an FIRST DONAGHADEE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL AcfiviTY for the year ended 31 December 2024 Note Unrestrlcted Restrlcted Funds Funds Total 2024 Total 2023 Recelpts Donations and legacies Charitable activities Other tradlng activitles Investment Income Other 54,088 1,996 15,880 16,473 19,903 73,991 1,996 22,305 17,184 378,141 2,595 22,305 13,788 6,890 711 Total Recelpt5 88,437 27,504 115,941 416,829 Payments Ralslng funds Charitable activities 540 78,046 540 115,958 399 118,369 37,913 Investment costs 300,000 Total payments 78,586 37,913 116,498 418,768 Net recelpts Transfers between funds 9,852 -1,611 -10,409 -1,611 -557 -1.939 Surplus for the year 8,241 -8,798 -557 -1,939 Funds brought forward 51,520 66,041 103,997 105,936 Funds carried forward 59,761 43,679 103,440 103,997
an FIRST DONAGHADEE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTESTO THE ACCOUNTS Year ended 31 December 2024 Note Unrestrlcted Fund Restrlcted Total Funds Total Funds Funds 2024 2023 Funds Reconclllatlon Cash at bank and In hand 31.12.23 Surplus / (deflclt) for the year Cash at bank and In hand 31.12.24 51,520 8,241 52,477 -8,798 103,997 -557 105,936 -1,939 59,761 43,679 103,440 103,997 Bank & Cash Balances Bank Current Accounts 103,440 103,997 Other Assets Investments at cost 419,556 419,556 The congregation owns the Church premises situated at 20 High Street, Donaghadee and the manse at S Meetlng House Polnt, Dona8hadee and the a550ciated fixtures, fittings, plant and machinery. These have an insurance value of £3,456,605. The valuation of investments at 31 December 2024 was £412,050 Approved by the Kirk Session at a meeting on 18" March 2025 and signed on its behalf by: Stephen Donaldson Trustee Ivan Currie Trustee 10
an FIRST DONAGHADEE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Year ended 31 December 2024 ACCOUNTING POLICIES The financial statements have been prepared in accordance with applicable accounting standards, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland} 2008, Charities Act (Northern Ireland) 2013, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and UK Generally Accepted Accountin8 Practice. The financial statements have been prepared on a goin8 concern basls as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of Income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of resources for the charity to be able to continue as a going concern. The charity has applied Update Bulletin l as published on 2 February 2016 and does not include a cash flow statement on the grounds that It is applying FRS 102 Section IA. FUND ACCOUNTING Endowment funds are funds, the capital of which must be retained either permanently or at the congre8ation's discretlon; the income derived from the endowment is to be used either as restricted or unrestricted Income funds depending upon the purpose for whlch the endowment was established In the flrst 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. De5i8nated funds are general funds set aside by the congregation for use in the future. INCOME Plate Collections and weekly envelopes are accounted for on a cash receipts basis as the amount is collected. 11
an FIRST DONAGHADEE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Year ended 31 December 2024 Legacies are included within income under either unrestricted or restricted funds according to the terms under which the donation is made. For legacies, entitlement is the earlier of the charity being notified of an Impending distribution orthe legacy being received Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and servlces In order to raise funds and is recognised when entitlement ha5 occurred. Investment income is earned through holdin8 assets for investment purposes such as shares, unit trusts and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. Interest and dividendstogetherwith any reclaimable taxcredits are incSuded Intheaccountsas received. Rent is included in the accounts when it is receivable. EXPENDITURE All expenditure is accounted for on an accruals ba515 and ha5 been classified under headings that aggregate all costs related to the category. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligatlon can be measured reliably. HERrrAGE ASSETS The congregation owns the Church premises situated at 20 High Street, Donaghadee. This building is deemed to be a heritage asset a5 defined by the Charities SORP 2019 (FRS 102). The heritage asset is not included on the balance sheet as information on the cost or valuation 15 not available and such information cannot be obtained at a c05t commensurate with the benefit to the users of the accounts and to the Church, DONATIONS AND LEGACIES Unrestrlcted Funds Restrlcted Funds Total 2024 Total 2023 Recorded giving: Donations and gifts 47,884 18,623 65,507 367,275 Gift Aid 6,204 1,280 7,484 10,886 54,088 19,903 73,991 378,141 12
an FIRST DONAGHADEE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Year ended 31 December 2024 CHARITABLE AcfiviTIES Unrestrlcted Funds Restrlrted Funds Total 2024 Total 2023 Fundraising events 1,996 1,996 2,595 OTHER TRADING AcfiviTIES Unrestrlcted Restrlcted Funds Funds Total 2024 Total 2023 Lettlng of premlses 15,880 6,890 22,770 22,305 INVESTMENT INCOME Unrestrlrted Restrlcted Funds Funds Total 2024 Total 2023 Deposlt Interest Other investment income 147 16,326 711 858 16,326 1.296 12,492 16,473 711 17,184 13,788 RAISING FUNDS Unrestrlcted Fund5 Restrlcted Funds Total 2024 Total 2023 FWO envelopes 540 540 399 13
an FIRST DONAGHADEE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {cont'd) Year ended 31 December 2024 CHARITABLE AcfiviTIES Unrestrlcted Funds Restrlrted Funds Total 2024 Total 2023 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Investment 41,048 521 15,105 21,371 41,048 521 15,105 49,729 9,555 37,954 497 14,784 55,385 10,148 300,000 28,358 9,555 78,045 37,913 115,958 418,768 14