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2025-12-31-accounts

Waringstown Presbyterian Church a Congregation of the Presbyterian Church in Ireland

Financial Statements

for the year ended 31 December 2025

Registered with the Charity Commission for Northern Ireland; NIC105076

1

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT Continued

The Trustees present their Statement of Financial Activities for the year ended

31 December 2025 including a Balance Sheet as at that date.

REFERENCE AND ADMINISTRATIVE DETAILS

Waringstown Congregation of the Presbyterian Church in Ireland 21 Mill Hill Waringstown BT66 7QL

CHARITY TRUSTEES

The Charity Trustees who served during the year or who were trustees at the date of this report were:

Tyrell Arnold Ken McKeown Bobby Boyd James McNeill David Crawford Sam Moffett Michael Cregan David Munroe Brian Hanna Andrew Patterson Rev Mark Haugh Brian Taylor Basil McDowell

PRINCIPAL OFFICE BEARERS

Minister Rev Mark Haugh Clerk of Session Mr. David Crawford Treasurer Mr. David Hewitt Congregational Secretary Mr. Paul Barbour

INDEPENDENT AUDITORS

BANKERS

McCleary & Company Ltd Danske Bank Chartered Accountants & Registered Auditors 45-48 High Street Garvey Studios Portadown 14 Longstone Street BT62 1LB Lisburn BT28 1TP

SOLICITORS

For general legal support Watson & Neill 23 High Street Lurgan, BT66 8AH

For specialist planning legal support Tughans Solicitors 3 Bedford St, Belfast, BT2 7EP

2

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT Continued

STATEMENT OF FINANCIAL ACTIVITY

for the year ended 31 December 2025

Notes Unrestricted
Funds		 Restricted
Funds		 Endowment Funds Total Funds
2025		 Total Funds
2024
£ £ £ £ £
Income and Endowments
from:
Donations and legacies 2 262,748 352,508 - 615,256 590,066
Charitable activities 3 - 21,087 - 21,087 36,196
Investments 4 1,693 - - 1,693 3,806
Other 5 - 3,470 - 3,470 7,129
Total 264,441 377,065 - 641,506 637,197
Expenditure on:
Raising funds 6 594 - - 594 788
Charitable activities 7 235,085 148,127 - 383,212 407,551
Other 8 70,719 - - 70,719 72,772
Total 306,398 148,127 - 454,525 481,111
Net Income / (Expenditure) (41,957) 228,938 - 186,981 156,086
Transfers between funds 246,420 (246,420) - - -
Gains/(losses) on revaluation - - (305) (305) 279
of fixed assets
Net movement in funds 204,463 (17,482) (305) 186,676 156,365
Reconciliation of funds:
Total funds brought forward 2,455,691 212,730 7,104 2,675,525 2,519,160
Total funds carried forward 2,660,154 195,248 6,799 2,862,201 2,675,525
======== ======== ====== ======== ========

3

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT Continued

BALANCE SHEET

As at 31 December 2025

Notes Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2025 Total Funds 2024
£ £ £ £ £
Fixed assets:
Tangible assets 13 2,786,895 - - 2,786,895 2,857,615
Investments 14 60,000 - 6,799 66,799 67,104
Total fixed assets 2,846,895 - 6,799 2,853,694 2,924,719
Current assets
Debtors 15 32,339 26,306 - 58,645 61,850
Cash at bank and in hand 16 33,994 281,107 - 315,101 346,856
Total current assets 66,333 307,413 - 373,746 408,706
Liabilities:
Creditors: Amounts falling 17 128,716 - - 128,716 126,950
due within one year
Net current assets (62,383) 307,413 - 245,030 281,756
/(liabilities)
Creditors: Amounts falling 18 236,523 - - 236,523 530,950
due after one year
Total assets less current 2,547,989 307,413 6,799 2,862,201 2,675,525
liabilities
======== ======== ====== ======== ========

4

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT Continued

BALANCE SHEET

As at 31 December 2025

Note Total Funds
2025		 Total Funds
2024
£ £
Funds of the charity
Endowment funds 17 6,799 7,104
Restricted funds 17 195,248 212,730
Unrestricted funds 17 2,660,154 2,455,691
Total charity funds 2,862,201 2,675,525
========= =========

Approved by the Kirk Session at a meeting on 14 May 2026 and signed on its behalf by

David Crawford

Clerk of Session

Rev Mark Haugh Minister

5

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT Continued

STATEMENT OF CASH FLOWS

For the Year Ended 31 December 2025

Note Total Funds 2025 Total Funds
2024
£ £
Cash flows from operating activities
Cash generated from operations 1 127,154
Cash flows from investing activities
Purchase of tangible fixed assets (19,800)
Purchase of Investments (3,000)
Interest received 2,687
Investment income 64
Net cash provided by (used in) (20,049)
investing activities
Change in cash and cash equivalents 107,105
in the reporting period
Cash and cash equivalents at the 346,856 239,751
beginning of the reporting period
Cash and cash equivalents at the 346,856
end of the reporting period
======== ========

6

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT Continued

NOTES TO THE STATEMENT OF CASH FLOWS

For the Year Ended 31 December 2025

1. RECONCILIATION OF NET INCOME/(EXPENDITURE)

Net movement in funds for the
reportng period
Adjustments for:
Depreciation charges
Loss / Gains on revaluation
Interest received
Investment income
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash provided by (used in)
operatng actvites

Note		 £
£
5
156,365
72,772
(279)
(2,687)
(64)
226,107
34,703
(133,656)
127,154
======== ========
Total Funds
2025
Total Funds
2024

7

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT (Cont’d)

NOTES TO THE ACCOUNTS

For the year ending 31 December 2025

1. ACCOUNTING POLICIES

BASIS OF FINANCIAL STATEMENTS

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015)’ and the Charities Act (Northern Ireland) 2008.

The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the congregation is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members.

FUND ACCOUNTING

Endowment funds are funds, the capital of which must be retained either permanently or at the congregation’s discretion. The income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place.

Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis.

Unrestricted funds are income funds which are to be spent on the congregation’s general purposes. Designated funds are general funds set aside by the congregation for use in the future.

8

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT (Cont’d)

NOTES TO THE ACCOUNTS

For the year ending 31 December 2025

1. ACCOUNTING POLICIES (cont’d)

INCOMING RESOURCES

(i) Recognition of incoming resources.

These are included in the Statement of Financial Activities (SoFA) when:

(ii) Incoming resources with related expenditure.

Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SoFA.

(iii) Grants and donations.

Grants and donations are only included in the SoFA when the congregation has unconditional entitlement to the resources.

(iv) Tax reclaims on donations and gifts.

Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.

(v) Contractual income and performance related grants.

This is only included in the SoFA once the related goods or services have been delivered.

(vi) Gifts in kind.

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount realised. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.

(vii) Donated services and facilities.

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

9

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT (Cont’d)

NOTES TO THE ACCOUNTS

For the year ending 31 December 2025

1. ACCOUNTING POLICIES (cont’d)

(viii) Volunteer help.

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

(ix) Investment income.

This is included in the accounts when receivable.

(x) Investment gains and losses.

This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

EXPENDITURE AND LIABILITIES

(xi) Liability recognition.

Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources.

(xii) Governance costs.

These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

(xiii) Grants with performance conditions.

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.

(xiv) Grants payable without performance conditions.

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity .

10

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT (Cont’d)

NOTES TO THE ACCOUNTS

For the year ending 31 December 2025

1. ACCOUNTING POLICIES (cont’d)

ASSETS

(xv) Tangible Fixed Assets.

Tangible fixed assets for use by the charity are capitalised if they can be used for more than one year and cost at least £2,500. They are valued at cost or, if gifted, at the value to the charity on receipt.

Depreciation is recorded on all tangible fixed assets other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as follows.

Buildings: - over 50 years. Fixtures, fittings and equipment - 15% reducing balance.

(xvi) Investments.

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees’ best estimate of market value.

(XVii) Going Concern .

The financial Statements have been prepared on a going concern basis.

2. DONATIONS AND LEGACIES

Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2025 Total Funds
2024
£ £ £ £ £
Recorded giving:
Freewill offering 211,365 222,830 - 434,195 404,916
Loose collections 6,948 - - 6,948 8,663
Donations and gifts 1,350 85,796 - 87,146 77,663
Gift Aid 43,085 43,882 - 86,967 98,824
262,748 352,508 - 615,256 590,066
======== ======== ======= ======== ========

11

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT (Cont’d)

NOTES TO THE ACCOUNTS (cont’d)

For the year ending 31 December 2025

3. CHARITABLE ACTIVITIES

Income from charitable
activities
Organisation income
Grants
Fundraising Events
.
INVESTMENTS
Deposit interest
Investment income
Rental income		 £
-
-
-
-
=======
£
825
173
695
1,693
=======
Unrestricted
Funds
Unrestricted
Funds		 £
12,221
8,866
-
21,087
=======
£
-
-
-
-
=======
Restricted
Funds
Restricted
Funds		 £
-
-
-
-
=======
£
-
-
-
-
=======
Endowment
Funds
Endowment
Funds		 £
12,221
8,866
-
21,087
=======
£
825
173
695
1,693
=======
Total Funds
2025
Total Funds
2025		 £
16,373
10,617
9,206
36,196
=======
£
2,687
64
1,055
3,806
=======
Total Funds
2024
Total Funds
2024

4. INVESTMENTS

12

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT (Cont’d)

NOTES TO THE ACCOUNTS (cont’d)

For the year ending 31 December 2025

5. OTHER INCOME

Other income
Graveyard
.
RAISING FUNDS
FWO envelopes		 £
-
-
-
=======
£
594
594
=======
Unrestricted
Funds
Unrestricted
Funds		 £
638
2,832
3,470
=======
£
-
-
=======
Restricted
Funds
Restricted
Funds		 £
-
-
-
=======
£
-
-
=======
Endowment
Funds
Endowment
Funds		 £
638
2,832
3,470
=======
£
594
594
=======
Total Funds
2025
Total Funds
2025		 £
5,904
1,225
7,129
=======
£
788
788
=======
Total Funds
2024
Total Funds
2024

6. RAISING FUNDS

13

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT (Cont’d)

NOTES TO THE ACCOUNTS (cont’d)

For the year ending 31 December 2025

7. CHARITABLE ACTIVITIES

£
£
General Assembly Assessments
19,010
-
Presbytery fees
1,413
-
Ministry and support staff costs
119,626
-
Congregational running
expenses
Donations to Missions and
charities
87,476
62,322
300
85,805
Governance costs
7,260
-
235,085
148,127
======== ========
.
OTHER EXPENDITURE
£
£
Depreciation
70,719
-
70,719
=======
-
=======
Unrestricted
Funds
Unrestricted
Funds
Restricted
Funds
Restricted
Funds		 £
£
-
19,010
-
1,413
-
119,626
-
149,798
-
86,105
-
7,260
-
383,212
======= ========
£
£

-
70,719


-
=======
70,719
=======
Endowment
Funds
Endowment
Funds
Total Funds
2025
Total Funds
2025		 £
19,725
1,479
127,422
177,325
76,080
5,520
407,551
========
£
72,772
72,772
=======
Total Funds
2024
Total Funds
2024

8. OTHER EXPENDITURE

14

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland

ANNUAL FINANCIAL REPORT (Cont’d)

NOTES TO THE ACCOUNTS (cont’d)

For the year ending 31 December 2025

9. EMPLOYEES Employment Costs

Total Funds
2025		 Total Funds
2024
£ £
Wages and Salaries 101,691 105,755
Social Security Costs 7,088 5,928
Pension contributions 10,847 13,479
119,626 125,162
======== ========

Number of Employees

The average number of employees, including the minister of the congregation, during the year was

2025 2024
Average number of employees 4 4
======= =======
There were no employees in receipt of employee benefits in excess of £60,000.

10. TRUSTEES’ REMUNERATION

Details of trustee remuneration as detailed at note 20.

11. NET INCOME /(EXPENDITURE)

Net income/(Expenditure) is stated after charging/(Crediting): 2025 2024
£ £
Auditors Remuneration 7,260 5,520
Depreciation-Owned assets 70,716 72,772
======= =======

15

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT (Cont’d)

NOTES TO THE ACCOUNTS (cont’d)

For the year ending 31 December 2025

12. PENSION COSTS

The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009). This is a scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employer’s pension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme (2009) is a funded Scheme of the defined benefit type, providing defined benefits based on career average revalued salary. The Scheme has assets held in a separately administered fund managed by a board of trustees. The Presbyterian Church and the Scheme Trustees have agreed a funding plan to ensure the Scheme is sufficiently funded to meet current and future obligations. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 24% of pensionable salaries to cover the accrual of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit.

The contributions made by the congregation during the year were.

£ £ Contributions 8,187 10,805 ======= =======

The congregation operates a defined pension contribution policy for its employees. The scheme and its assets are held by an independent scheme manager. The pension charge represents the contributions due from the congregation during the year.

Contributions

£ £ 2,660 2,674 ======= =======

16

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT (Cont’d)

NOTES TO THE ACCOUNTS (cont’d)

For the year ending 31 December 2025

13. TANGIBLE FIXED ASSETS

Land & Buildings Fixtures,
Fittings &
Equipment		 Total
£ £ £
Cost or valuation
At start of year 2,955,178 122,305 3,077,483
Additions - - -
At end of year 2,955,178 122,305 3,077,483
Depreciation
At start of year 175,011 44,857 219,869
Provision for year 59,104 11,615 70,719
At end of year 234,115 56,472 290,588
Net Book Value
At start of year 2,780,167 77,448 2,857,615
At end of year 2,721,063 65,833 2,786,895
======== ======== ========

14. INVESTMENTS

4.
INVESTMENTS
2025 2024
£ £
General Investment Fund 6,799 7,104
Investment - Land 60,000 60,000
66,799 67,104
======= =======

17

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland

ANNUAL FINANCIAL REPORT (Cont’d)

NOTES TO THE ACCOUNTS (cont’d)

For the year ending 31 December 2025

14. INVESTMENTS (Cont’d)

Value at start of year
Additions
Disposals
Impairment
Gains / (Losses) on revaluation
Value at end of year		 2025
£
67,104
-
-
-
(305)
66,799
=======		 2024
£
63,825
3,000
-
-
279
67,104
=======

15. DEBTORS

Gift aid recoverable
Prepayments and other debtors
6.
CASH AT BANK AND IN HAND
Bank accounts
Cash in hand		 2025
£
48,972
9,673
58,645
=======
2025
£
309,848
5,253
315,101
========

 2024
£
55,498
6,352
61,850
=======
2024
£
345,879
976
346,855
========

16. CASH AT BANK AND IN HAND

18

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT (Cont’d)

NOTES TO THE ACCOUNTS (cont’d)

For the year ending 31 December 2025

17. CREDITORS: Amounts falling due within one year

2025
£
Other Creditors
-
Accruals
Bank Overdraft
Bank loan due within one year
8,716
-
120,000
128,716
========		 2024
£
-
6,950
-
120,000
126,950
========

18. CREDITORS: Amounts falling due after one year

Bank loan due after one year 2025
£
236,523
236,523
========		 2024
£
530,950
530,950
========

19

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT (Cont’d)

NOTES TO THE ACCOUNTS (cont’d)

For the year ending 31 December 2025

19. FUND BALANCES AND RECONCILIATION OF FUNDS

Fund Balance at Income Expend. Gains Transfer Balance at
start Losses end
£ £ £ £ £ £
Unrestricted Funds
General Fund (401,924) 264,441 235,679 28,762 246,420 (126,742)
Fixed Assets 2,857,615 - 70,719 (70,719) - 2,786,896
--------------- --------------- --------------- ----------- --------------- ---------------
2,455,691 264,441 306,398 (41,957) 246,420 2,660,154
Restricted Funds
Building Fund 158,630 258,976 29,535 229,441 (248,100) 139,971
Missions Fund 14,413 81,597 83,005 (1,408) 510 13,515
Bowling Fellowship 100 1,043 577 466 (500) 66
Boys’ Brigade 8,406 9,386 11,677 (2,291) - 6,115
Catering Ministry 3,143 5,407 2,305 3,102 - 6,245
Community Ministries 4,301 - - - - 4,301
Friendship Circle 17 1,390 1,390 - - 17
Graveyard Fund 8,284 2,832 2,976 (144) - 8,140
Little Lambs 3,556 3,917 3,846 71 - 3,627
Luncheon Club 232 500 722 (222) 300 310
Flourish 1,315 1,839 1,558 281 (100) 1,496
Youth & Children’s 1,148 3,090 6,253 (3,163) 2,970 955
Special Collections - 190 190 - - -
Girls Brigade 9,185 6,898 4,093 2,805 (1,500) 10,490
--------------- --------------- --------------- ----------- --------------- ---------------
212,730 377,065 148,127 228,938 (246,420) 195,248
--------------- --------------- --------------- ----------- --------------- ---------------
Endowment Funds
General Invest. Fund 7,104 - - (305) - 6,799
Deposit Invest. Fund - - - - - -
7,104 - - (305) - 6,799
Total 2,675,525 641,506 454,525 186,676 - 2,862,201
======== ======== ======== ======== ======== ========

20

WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ANNUAL FINANCIAL REPORT Continued

NOTES TO THE ACCOUNTS (cont’d)

For the year ending 31 December 2025

20. RELATED PARTY TRANSACTIONS

One of the trustees, the Minister of the congregation received remuneration of £47,019 and expenses of £7,388 for acting in that capacity. Pension contributions of £8,187 were paid by the congregation in respect of the Minister to the Presbyterian Church in Ireland Pension Scheme (2009). The Facilities Manager is also a trustee and received remuneration of

£16,900 as an employee of the church for his role as Facilities Manager. No trustee received any remuneration or expenses during the year in connection with their duties, other than those mentioned above.

During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity

£19,725 to Presbyterian Congregational Assessments

£16,500 to Presbyterian United Appeal

£12,708 to Presbyterian Missions (for S & A Cowan in Kenya)

£3,750 to Presbyterian Missions (for A & O Nel in Russia)

£2,000 to Presbyterian Children’s Society

The congregation contributed £1,413 towards Armagh Presbytery Assessments during the year. There were no other related party transactions.

21. NEW BUILD - HALL

Construction of the new hall, which commenced in February 2021, was completed by April 2022. The cost of this project was £2.46 million. The building was officially opened by the Moderator of the Presbyterian Church in Ireland in May 2022.

22. Capital Commitments

At the year end the charity had no capital commitments and none in the prior financial year

21