CHARITY REGISTRATION NUMBER: NIC105176 Kilkeel Congregation Of The Presbyterian Church In Ireland Unaudited Financial Statements 31 December 2024 PURDY QUINN Chartered Accountants 42 Greencastle Street KILKEEL Co Down BT34 4BH
Kilkeel Congregation Of The Presbyterian Church In Ireland Financlal Statements Year ended 31 December 2024 Page Trustees, annual report Independent examiner's report tc the trustees Statement of financial activities Statement of financial position Notes to the financial statements 10-26
Kilkeel Congregation Of The Presbyterian Church In Ireland Trustees, Annual Report Year ended 31 December 2024 The truste¢s present their report and the unaudited financial staternents of the charity for the year ended 31 December 2024. Reference and admlnlstrative details Registered charity name Kilkeel Congregation Of The Presbyterian Church In Ireland Charity registration number NIC105176 Principal office 18 Newcastle Street KiU(eel Co Down BT34 4AF The trustees Rev. Stephen Johnston Mr John Peacock DT David O Mr Robert Adair Mr George Mccullough Mr Oswald Wallace Mr Francis Newell Mr James Graha Mr Edmund Donaldson Mr David Mcculla Mr Wesley Hanna Mr Samuel Bums Mr Edward Graham Mr Robert Graham Mr David Parke Mr Sydney A Hanna Independent examiner Purdy Quinn 42 Greencastle Street KILKEEL Co Down BT34 4BH
Kilkeel Congregation Of The Presbyterian Church In Ireland Trustees, Annual Report (Contlnued) Year ended 31 December 2024 Stru¢ture* governance and management The Kirk Session The charity trnstees of the congr¢gation are the members of its Kirk Session. Under the congregation's governing document, The Code, the book of the constitution and government of the Presbyterian Church in Ireland, th¢ Kirk Session seeks to watch over and promote the spiritual interest of the congregation and of persons not connected with any congregation who are within its bounds. It ensure5 pastoral care is in place in the congregation and seeks to fiuther the contribution of the Church to Christian witne55 and service in the local community. The Kirk Session has delegated to its Congregational Committee the ternporal affairs of the congregation including administering all funds and propety belonging to the congregation. Members of the Kirk Session are ex-officio members of the Congregational Committee. The Kirk Session consists of the ordained minister and the ruling elders of the congregations. All members ar¢ entitled to propose, speak and exercis¢ equal votes at meetings, except that the Moderator, the minister in active duty in the congregation, has no deliberative but only a casting vote. Stated meetings of the Kirk session are held at least two or three times each year. To be chosen for the office of the eldership in the congregation a peTson must be a voting member and a regular attendant oll its ordinances. The selection of those proposed to be called to th¢ office can be either by the congregation or by the Kirk Session. Members are elected if they obtain two-thirds of those who vote. Pr¢sbytery Under the Presbyterian Church in Ireland forn] of governance the cory)orate oversight of a congregation is the responsibility of a Presbytery which superintends generally the spiritual and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterian Church in Ireland. Kilkeel congregation of the Presbyterian ChuTch has been assigned to the Newry Presbytery of the Presbyterian Church in Ireland. Th¢ membership of the Presbytery con51Sts tnainly of the active rninisters of ¢ongTegations assigned to it by the General Assembly, minsters who have retired from active duty and an elder appointed by the Kirk Session of the congregation. The General Assembly Th¢ General Assembly is the supreme court of the Church, representing in one body the whole Church and acting as its supreme legislative, administration and judicial authority, in dealing with all matters bTought before it. The General Assembly is nornially constituted during the fiTSt week in June for WOTship and to conduct its business. At the end of busin¢ss It is dissolved. The membership of the General Assembly consists mainly of the active rninisteTS of each congregation, retired minsters and a representative elder appointed by the Kirk SessTOTI of each congregation.
Kilkeel Congregation Of The Presbyterian Church In Ireland Trustees, Annual Report (rnntinued) Year ended 31 Dec8mber 2024 Objectives and activities Description and Purpose The charitable purpose of the congregation is the advancement of religion. Kilkeel congregation of the Presbyterian Church is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a R¢forn]ed Chur¢h within the wider body of Christ is grounded in the Scriptures, and exists to love and honour God through fatth ill His Son and by the power of His Spirit, and to enable her Tnembers to play their part in fvlfLlling God's tnission to our world. A5 a congregation of the Presbyterian Church in Ireland. we believe that the Bible is the supreme authority over all we do, and that the Westminster Confession of Faith, along with the Larger and Shorter Catechistns set out what we understand the Bible teaches on key matters of Christian faith and practi¢e. The congregational mission is the following... This is why Kilkeel Presbyterian Church exists... We exfist to... Know and glorify God, and produce Chri5t-Ilke disciples Committed to witnessing and showing love to all people everywhere. Activities and ObjectiV¢S The congregation meet5 for worship every Sunday and visitors are welcome to join. The Sacrament of the Lord's SuppeT is observed on six occasions during the year and all those who have been baptised and who have made a profession of faith in the Lord Jesus Christ are admitted to the Lord's Supper. The congregation holds regular Bible study rneetings and has a wide range of Organisations including... Sunday School Youth Fellowship - Girls Brigade & Boys Brigadt - Presbyterian Wolnan (PW) Youth Club - Mothers and Toddlers Life Builders Gym - Bowling Club Activities and ObJtIveS Worship and prayer The congregation normally meets for worship each Sunday at I1.30am and 7.00pm. During the week the Bible Study provides an opportunity for members to meet together for fellowship, to study the ScriptUTes and for a time of PTayer. At 31 December 2024 there were 189 communicant members and 296 families connected with the congregations. Th¢ average weekly attendance at tnorning worship is 175. Pastoral care Members of the congregation who aT¢ unable to attend church due to sickness or age are visited on a Tegular basis by the minister supported by eldeTS.
Kilkeel Congregation Of The Presbyterian Church In Ireland Trustees. Annual Report (c¢)ntinued) Year ended 31 Decgmber 2024 Objectlves and actlvities Mlssion and outreach The congregation seeks to reach into the local community with the Gospel. It is engaged in community outreach across the whole community. The Church also takes an interest in work overseas and has a particular interest in Christian work in Uganda. The congregation supports the United Appeal for Mission which is a central fund of the Presbyterian Church in Ireland. This fund enables congregations to support the wider mission of the denomination and to do mission and outr¢a¢h on a denominational basis beyond what the congregation could do on its own. The United Appeal Fund provides financial support for rnis5ion P¢Tsonnel at home and overseas, assists congregations with the deploytnent of locally based staff, enable5 Church planting, provides grant support for the upkeep of Church pr¢mises, a5SlSt with the running Costs of Union Theological College, the Church's training college for ministy students, and financially supports congregation in the areas of worship, discipleship, global mission, outreach, leadership and pastoral care. The congregation also contributes to the d¢rAominations Sunday School project and any oth¢r sp¢¢ial appeals. Prcsbytery The congregation was represented at the regular meetings of Presbytery by our minisfrr and one of the elders. This provides an important link betw¢¢n the congregations and the wider structures of the chuTCh. Gcneral Assembly The minister and one of our elders were nominated to attend the meeting of the General Assembly of the Presbyterian Church in Ireland held in Assembly Buildings, Belfast, in June. Property The property (main Church Building> Church Halls & the fvlanse) is diligently maintained by the Church Cotnmittee. During 2024 the congregation upgraded and tarniacked the Manse grounds. They also painted the exterior of the Manse. An extension and significant maintenance were also carried out by the Life Builders Gym Fund. Organisations Sunday School meets on Sunday morning (excluding July, August and early Septembcr), Activities include singing, Bible stories and quizzes. Youth Fellowship meets on Sunday evenings for the youth. Activities include teaching and friendship. Girls Brlgade & Boys Brigade are uniforn]ed organisations that meet through the week for fun, friendship and the teaching of basic Christian principles. Presbyierian Woman (PW) meet on the 2. Thursday of each month for Christian fell(N15hip and instruction on basic Christian truths. Mums and Toddlers meet on Tuesday mornings and both parents and children enjoy time for social interaction and refreshments. Bowling Club meet on Tuesday and Friday evenings for social interaction and friendship. Life Bullders Gym is open each day, with the exception of Sunday. Volunteerg The Trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees and helping with OTganisations and other Church activities.
Kilkeel Congregation Of The Presbyterian Church In Ireland Trustees. Annual Report (wntinued) Year ended 31 December 2024 Transitlon to SORP 2019 (FRS 102) This is the first year that the charity has presented its financial statement5 under SORP 2019 and FRS 102. The last financial statements, for the year ended 31 December 2023, were prepared on a historical cost, receipts and payment basis. Given that during 2024 the Charity has bTeached the upper threshold permilling this basis of preparation, the Charity, as required, has fully implemented SORP 2019 and FRS 102 for th¢ year end 31 DecembeT 2024. The transltion date to SORP 2019 and FRS 102 is l January 2023. Adopting SORP 2019 and FRS 102 has m¢ant that several accounting policies have changed to comply with the new standard. The previously reported figures for the year ended 31 December 2023 have therefore been restated. A full reconciliation of movements in these figures is given at Note 25 to the accounts. Financial review The congregation's main sourc¢ of income is members, contributions through the Weekly Freewill Offering. There were 2 12 (2023 - 207) contributOTS during the year. Total Income of the congregation during the year was £274,662 (2023 - £253,440). The expenditure for the year was £251,756 (2023 - £245,701). The Charity reported all overall surplus for the year of £23,464 (2023 - £8.719). The reserves of the Charity at 31 December 2024 totalled £1,389.773 (2023 - £1,366,309). Reserves Policy The tnistees consider it appropriate to hold £15,000 of liquid funds in the current acwunt of the General Fund. The current account balance at 31 December 2024 was £17,621 (2023- £3,952). This balance improved significantly from the depleted 2023 lev¢] and was considered appropriate by the Trustees. Restricted Funds are held at levels consider appropriate given the purpose of the fund. The trustees consider it appropriate to hold a minimum of £9,000 in the Propety Fund. The balan¢¢ at 31 December 2024 was £12,611 (2023 - £3,496}. Coing Concern The activities of the congregation are dependent on ongoing contributions from its members. The Trustees are of the opinion that the congregation has sufficient resources at the date of approval of these fman¢ial statements to meet COTnmitments which will arise in the year from the date of signing this report and subject to the continuing support from members to fund on an ongoing basis the congregation's current activities and other financial ommitments. Public B¢erit Statement The Presbyterian Church in Ireland meets the public benefit requirement by providing benefit to its members and the general public by making known the Christian Gospel of the Lord Jesus Christ through the advanc¢ment of religion. The direct benefits which flow from the purposes of the Church include the gaining of an understanding in Christian beliefs as set out in the Bible and in the Church's subordinate standards (the Westminster Confession of Faith and the Shorter and Larger Catechisms) leading to spiritual and moral development and opportunities for response to Bible teaching. In turn, this framework leads to practical expressions of Christian beliefs and standards in the local community such as through the care of those in ne¢d (including the sick. disabled and bereaved).
Kilkeel Congregation Of The Presbyterian Church In Ireland Trustees, Annual Report (continued) Year ended 31 December 2024 Public Benefit Statement {conlinued) Generally the above benefits are deliv¢red locally by congregations and their members, or are facilitated through presbyteries or are organised and delivered centrally. Local delivery is facilitated by central resource5 in almost all cases. Public access is made known through the use of noticeboards. printed material, PTess advertisement, websites, and social media or in other ways. The benefits are demonstrated through regular evaluation of the services and infornial and ad-hoc feedback from mernbers, their families, and members of the public. The purpose do¢s not lead to harn]. The only PTivate benefit flowing from our pury)ose is rtlated to Ministers, Missionaries, Deaconesses, Irish Mission workers and Lay Agents who receive benefits as a result of their holding office or employment. However, this is in¢idental and necessary in order to further our ¢baritable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families, other individuals that the Presbyterian Church in Ireland is in direct and indirect contact with, the community in which pastoral services are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement with and support for both Christian and other secular organisations, charities and individual members of the public. The Kirk Session has had regard to the Charity Commissions public benefit requirement statutory guidanc¢. Responsibilities In respect of the finaneial Statements The trustees are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Northern Ireland requires the charity trustees to prepare financial statements for each year which give a true and falr view of the state of affairs of the charity and of the incoming resouTces and application of resources, of the ¢baTity for that period. In prepaTing these financial statetnents, the trustees are required to: select suitabl¢ accounting policies and then apply them conslstently. observe the methods and principles in the applicable Charities SORP. make judgments and accounting estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departure5 disclosed and explained in th¢ financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the harity's transactions and disclose with reasonable accuracy at any time the ftnancial position of the charity and enable them to ensure that the financial statements ¢omply with the Charities Act (Northern Ireland) 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable Steps for the Prevention and detection of fraud and other irregularities. The trustees. annual report was approved on ........... and signed on behalf of the board of trustees by.. Rev. St Trustee phen Johnston Dr David O Trustee
Kilkeel Congregation Of The Presbyterian Church In Ireland Independent Examinerfs Report to the Trustees of Kllkeel Congregation Of The Presbyterian Church In Ireland Year ended 31 December 2024 I report to the trustees on rny examination of the financial statements of Kilkeel Congregation Of The Presbyterian Church In Ireland Cthe charity,) for the year ended 31 December 2024 which are set out on pages 8 to 26. Responsibilities and b2sis of report As the trustees of the charity you are responsible for the preparation of the financial statement8 in accordance with the requirements of the Charities Act (Northern Ireland) 2008 (the '2008 Ath,). You are satisfied that your charity is not required by charity law to be audited and have chos¢n instead to have an independent examination. It 15 my responsibility to.. examine the financial statements under section 65 of the Charities Act. follow the procedures laid (lown in the general DirectiOT15 given by the Charity Commission for Northem Ireland under 5e¢tion 65(9)(b) of the Act,. and state whether particular matters have come to my attention. Basis of indep¢ndent exxminer's report I hav¢ examined your charity accounts as required under section 65 of the Charities Act and n)y examination was carried out in accord&nce with the general Directions given by the Charity Comrnission for Northem Ireland under section 65(9)(b) Of the Charities Act. My examination included a review of the accounting record8 kept by the Gharity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations frotn you as charity trustees concerning any such rnatters. My role is to state whether any material matters have corne to my attention giving me cause to believe., l. that accounting records were not kept in accordance with section 63 of the Charities Act. 2, that the accounts do not accord with those accounting records. 3. thal the accounts do not C4)mply with the ac¢ounting r¢quirements of the Charities Act. 4. that there is further infomation needed for a proper understanding of the accounts to be reached. ldependent exAmlner's stAtemeJJt Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirni that l am qualified to undertake the examination beCse l am a registered member of Chartered Accountants Ireland. which is one of the listed bodies. J have wmpleted my examination and have no concerns in respect of the matters (l) to (4) listed above and. in connection with following the Directions of the Charity ComTnission for Northern Ireland. I have found no matters that require drawing lo your attention to enable & proper understanding of the accounts to be reached. This report is made solely to the charity's Trustees, as a body. in accordance with section 65(3Xa) of the Charities Act (Northern Ireland) 2008 and regulations made under section 66 of that Act. My work has been undertaken so that I might slate to the charity's Trustees those matters l am required to stale to them in an Independent examiner'5 report and for no other purpose. To the fullest extent permitted by law, I do not accept or assutne Tesponsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. Purdy Quinn Chartered Accountants 42 Greencastle Street Kilkeel BT34 4BH Date . Una Cunninghtun FCA Chartered Accountants Ircland
Kilkeel Congregation Of The Presbyterian Church In Ireland Statement of Flnancial Activities Year ended 31 December 2024 2024 Restricted funds 2023 {as restated) Total funds Unrestricted funds Total funds Note Income and endowments Donations and legacies Charitable activities Other trading activities Investtnent income Other income 120,613 627 96,052 44,814 216,665 45,441 198,898 42,021 122 11,342 ,057 292 587 11,291 275 11,583 862 Total income 122,230 152.432 274,662 253,440 Expenditure Expenditure on charitable activities Total expeDdSlure 9,10 l29,860 121,896 251.756 245,701 129,860 121,896 251,756 245,701 Nei gaills on investments 12 (558) (558) (980) Net income (7,072) 30,536 23,464 8,719 Transfers between flmds 14,665 (14,665) Net movement in funds 7,593 15,871 23.464 8.719 Reconeiliation of fund5 Total funds brought foNTard Total funds carrled fonvard 52,516 1,313,793 1.366,309 1,357,590 60,109 1,329,664 1.389,773 1,366,309 Th¢ statevnent of fmancial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Refer to note 25 for an explanation of the restatement. The notes on pages 10 to 26 form part of these financial statements.
Kilkeel Congregation Of The Presbyterian Church In Ireland statement of Financial Posltlon 31 December 2024 2024 2023 (as restated) Note Fixed a5s¢ts Tangible fed assets Investments 17 18 1,081,285 202,366 1,063,323 201,808 1,283,651 1,265,131 Current assets Debtors Cash at bank and in hand 19 39,031 76,007 36,075 69,877 115.038 105,952 Creditors: amounts falling due witbin one year Ne( current assets 20 8,916 106,122 101,178 Total assets less current liabilities 1.389,773 1,366,309 Net assets 1,389,773 1,366,309 Funds of the charity Restricted funds Unrestricted llds 1,329,664 60,109 1,313,793 52,516 Total eharity funds 22 1,389,773 1.366.309 These financial statements were approved by the board of trust¢e5 and authorised for issue on .zy.Is 120 Z and are signed on behalf of the board by.. Rev. Stepl Trustee n Johnston Dr David Orr Trustee The notes on pages 10 to 26 form part of these financial statements.
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Financlal Statements Year ended 31 December 2024 General information The charity is a public benefit entity and a regÈstered charity in Northern Ireland and is unincorporated. The ad(Iress of the principal office is 18 Newcastle Street, Kilkeel, Newry, BT34 4AF, Co Down. Ststement of compliance These financial 5tatement5 have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in a¢cordance with the Financial Reporting Standard applicabl¢ in the UK alld Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act (Northern Ireland) 2008. Aeeounting policies Basis Df preparation The fancIal statements hav¢ been prepared on the historical cost basis, as rnodified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through incotne or eXpendIre. The fll)ancial statements are prepared in sterling, which is the functional currency of the entity. Kilkeel Congregation of The Presbyterian Church in Ireland meets the defEnition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenvise stated in the relevant accounting policy. Going Concern After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the fmancial statements. To ensure this. the charity has a reserves policy to develop and maintain unrestrict¢d reserves equivalent to 12 tnonths incoming resources without prejudicing the ongoing activities of the organisation. Changes in formats These financial staternents are the fiTSt financial statements of Kilkeel Congregation of The Presbyterian Church in IT¢land prepared in ac¢ordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (FRS 102) and the Charities SORP 2019 (SORP 2019). The financial statements of Kilkeel Congregation of The Presbyterian Church in Ireland for the year ended 31 December 2023 were prepared on a receipts and payments basis. FRS 102 recognition, measuremenL presentation and disclosure requir¢ments and arrounting policy choices diff¢r fTOITL those previously used. Consequently, the TSteeS have updated certain accounting policies to Comply with FRS 102 and SORJ) 2019, Reconciliations to the previously stated comparative figures are included in note 25. 10
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Flnancial Statements (Continued) Year ended 31 December 2024 Aeeounting policies (coiitinNed) Judgements and key sources of estimation uncertainty In the application of the charity's accounting policies, the trustees ai¢ required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other SOUT¢es. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual Tesults may differ from these estimates. The estimates and underlying assumptions ar¢ received on an ongoing basis. Revisions to accounting estimates ar¢ Tecognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision aff¢¢ts both current and fitur¢ periods. Fund accounting Unrestricted funds are available for use at the discretion of the truste¢s to further any of the charity's pUose5. Designated funds are unrestricted funds earmarked by the trustees for particular future project or ¢OTnmitment. Restricted ndS are Subjected to restrictions on their expenditure declared by the donor or through the ternis of an appeal and fall into one of two sub-classes., restricted incorne funds or endowment funds. Where the Trustees make a transfer of funds from general funds to a restricted fund. the charity reserves the right to transfer the unrestricted element of that fund into general reserves at any time in the future. Incoming resources All income is recognis¢d once the charity has entitlem¢nt to th¢ income, it 15 probable that the income will be received, and th¢ amount of incorne receivable can be measured reliably. For legacies, entItleent 15 taken as the earlier of the date on which either.. the charity is aware that probate has been grantel the estate has been fmalised and notification has been made by th¢ exerutor(s) to the Trust that a distribution will be made. OT when a distribution is r¢ceived from the estate. Receipt of a legacy, in whole or in parL is only considered probable when the amount can be measured reliably. and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and tbe criteria for income recognition have not been met, then the legacy is treated as a contingent ass¢t and disclosed if material. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the titne of the donation. Incom¢ tax recoverable in relation to investment incorne is recognised at the time the inv¢siment incoTne is receivable.
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Flnanclal Statements (conllnued) Year ended 31 December 2024 Accountlng policies {eontiNNed) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statetnent of fmancial activities to which it relates.. •exp¢nditure on raising funds includes the Costs of all fundraising activities, ev¢nts, non-charitable trading activities, and the sale of donated goods. •expenditure on charitable activities includes all costs incurred by a charity in undertaking activittes that further its charitable aims for the benefit of its beneficiaries, including those sUPPOrt costs and costs relating to the gov¢rnance of the charity apportioned to ¢haritable activities. •other expenditure includes all expenditure that is neither related to raising funds for the Charity nor part of its expendItte on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that actlVlty- Shared costs are apportioned between the actLVlties they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are stated at cost (or deemed cost) less a¢cumulated depreciation and accumulated impairrnent losses. All assets costing more than £l.000 are capita]ised. Cost includes the original purchase price. costs directly attributable to bringing the asset to its working ondition for ils intended use, dismantling and restoration costs. The Charity have utilised FRS 102 transitional rules for PTopety and have included all propety in use by the charity at the date of transition to FRS 102 at deemed cost, being the fair value of the propertÈes at that time. Depreeiatlon Depreciation is calculated so as to write off the cost or valuation of an ass¢L less its residual value, over the useful ¢¢onotnic life of that asset as follows.. Life Builder equipment Fixtur¢s and fittings Motor vehicles 20Q/o Straight line l OQ/p200/0 straight line 200/0 straight line Church Propety - Given the nature of the properties and th¢ high level of on-going maintenance to which they are subject, no depreciation is applied to Church Propety- The Tesidual value of Church Property Is considered to be at least equal to the cost (d¢¢med cost) of the propety. Investments Unlisted equity investments are initially recorded at cost, and subsequently Tneasured at fair value. If fair value cannot be reliably measur¢d, assets are measured at cost less impainnent. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. 12
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Financial Statements (continued) Year ended 31 Decemb8r 2024 Accounting policles (conlEnved) Investment property Investrnent property is revalued to its fair value at each reporting date and any changes in fair value are r¢cognised in profit or loss. Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instrun]ents. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measui¢d at atnortised cost using the effective interest Method. Defined contribution plans The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the nd in respect of the year. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donations Free Will Offering Gift Aid Loose collections Property donations Belfast City Mission Sundry small gifts Outreach donations Faith mission General mission Mid-week offering PCI Childrens Society United Appeal Donations Philip Johnston Poppy appeal Other donations 98,265 17,743 3,585 98.265 32,975 3,585 2,750 526 30 652 157 36.778 490 50 6.222 13.271 754 2,741 15.232 2,750 526 30 652 157 36,278 500 490 50 6,222 13,271 754 2,741 Legacies Legacies & bequests 10,000 10,000 Grants Grants received 7,419 7,419 120.613 96.052 216,665 13
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Flnanclal Statements (continued) Year ended 31 December 2024 DoatiOnS and legacles (continued) Unrestricted Funds Restricted Total Funds Funds 2023 Donation5 Fr¢e Will Offering Gift Aid Loose collections Property donations Belfast City Mission Sundry small gifts Outreach donations Faith tni55ion General lssiOn Mid-week offering PCI Childrens Society United Appeal Donations Philip Johnston Poppy appeal OtheT donations 92.777 16,206 2,454 92,777 29,483 2,454 10,679 13,277 10,679 30 30 2,650 210 27,678 242 755 7,157 2,650 210 27,678 242 755 7,157 2,338 2,338 Legacies Legacies & bequests 8,645 8,645 Grants Grants received 13,800 13.800 11,709 87,189 198,898 14
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Flnancial Statements (contlnued) Year ended 31 December 2024 Charitable activities UnTestricted Funds Restricted Total Funds Funds 2024 Church Magazines Presbyterian Women Boys Brigade Girls Brigade Youth Club Anchor Boys Sunday School Mums & Toddlers Life Builders Bowling Fellowship 627 627 2,554 210 1,853 2,554 210 1.853 477 440 3,885 34,637 758 477 440 3,885 34,637 758 627 44,814 45,441 Unrestrict¢d Funds Restricted Total Funds Funds 2023 Church Magazines Presbyterian Women Boys Brigade Girls Brigade Youth Club Anchor Boys Sunday School Mums & Toddlers Life Builder5 Bowling Fellowship 639 639 4,019 473 1,755 1,395 471 505 3.170 28,900 694 4,019 473 1.755 1.395 471 505 3,170 28,900 694 639 41,382 42,021 Other trading activlties Unrestricted Total Funds Fund5 2024 Unrestricted Total FLmds Funds 2023 Rent of land 122 122 Investment incom¢ Unrestricted Funds Restricted Total Funds Funds 2024 Income from investment properties Bank interest received Other investtnent income- dividends 11,040 251 11,040 251 292 292 292 11,291 11,583 15
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Financlal Statements (¢ontlnued) Year ended 31 December 2024 Investment income fcontinued) Unrestricted Funds Restricted Total Funds Funds 2023 Income from investment propertie5 Bank interest received OtheT tnvestment income- dividends 11.040 72 11,040 72 230 230 230 11,112 11.342 Other ineom¢ Unrestricted Funds Restricted Total Funds Funds 2024 Other income Refund of expenditure loo 175 100 762 587 587 275 862 Unrestricted Funds Restricted Funds Total Funds 2023 Other income Refund of expenditure 330 725 1,055 330 727 1,057 Expenditure on charitabl¢ activities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Advancement of Religion Support costs 81,860 48.000 96,745 25.151 178,605 73,151 129,860 121.896 251,756 UnTestricted Funds Restricted Total Funds Fund5 2023 Advancement of Religion Support costs 94,316 33,347 82,152 35,886 176,468 69,233 127,663 118,038 245,701 16
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Financlal Statements (¢ontlnu•d) Year ended 31 December 2024 10. Expenditure on eharitable activitles by activity type Artivities undertaken directly Support costs Total funds 2024 Total nd 2023 Advancement of Religion Governance costs 178,604 68,654 4,498 247,258 4,498 243.320 2.381 178,604 73,152 251,756 245,701 11. Analysls of Support costs Analysis of support COSts Tot812024 Total 2023 Staff costs Premises General offJ¢e Finance costs Governance costs Depreciation Support costs - Other congregational costs 15,586 25,988 7,660 2,272 4,498 12,038 5,110 15,586 25,988 7.660 2.272 4.498 12.038 5,110 13,942 29,170 4,205 2,188 2,381 12,654 4,693 73,152 73,l52 69,233 12. Net gains on investments UnTestricted Total Funds Funds 2024 Unrestricted Total Funds Fun(18 2023 Gainsl(1055es) on listed investments 558 558 980 980 13. Net income Net income 15 Stated after Chargin{credItig)'. 2024 2023 Depreciation of tangible fixed assets 12,038 12,654 14. Independent examination fee5 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements Other assurance services 625 2,200 600 1,781 2.825 2,381 17
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Financial Statements (continued) Year ended 31 December 2024 15. Staff ¢osts The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salarie5 Social security costs Employer contributions to pension plans 57,021 5,433 9,944 68,044 5,184 9,957 72,398 83,185 The average head count of employees during the year was 4 (2023.. 5). The average number of full-time equivalent employees during the year is analysed as follows.. 2024 2023 Minister Ministry support Maintenance Other No employee received employe¢ benefits of more than £60.000 during the y¢aT (2023.. Nil). 16. Trustee remuneration and expenses The Minister of tbe congregation, Rev Stephen Johnston, is also a trustee. Rev Johnston received reTnuneration of £41,435 (2023 £39,462) and expenses (including car and dutie5 allowance) of £7,036 (2023 £6,701) in his capacity as the Minister of the congregation. Pension contributTon of £9,944 {2023 £9,471) were also paid to the Presbyterian Church in Ireland Pension Scheme (2009) in respect of Rev Johnston. During the year the Charity paid a further £1,320 (2023 £1,320) to Rev Stephen Johnston. This was a contribution towards both the Manse running costs and Rev. Johnslon's mileage costs, incurred in carrying out hi5 role as Minister of the congregation. No other trustees received any remuneration and no other trustees claimed any expenses during the year in connection with their duties. 18
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Financlal Statements (Continued) Year ended 31 December 2024 17. Tangible fixed assets Church Life Builders Fixtures and Property Equipment fittings fvIotOT vehicles Total Cost At l January 2024 Additions 1,030,000 30,000 76,128 24.936 7,350 1,138,414 30.000 At 31 December 2024 1.060,000 76,128 24,936 7,350 1,168,414 Depreciation At l January 2024 Charge for the year At 31 December 2024 61,535 8,546 7,276 2,422 6,280 1,070 75,091 12,038 70,081 9,698 7,350 87,129 Carrying amount At 31 December 2024 1,060,000 6,047 15,238 ,081,285 At 31 Decetnber 2023 1.030.000 14,593 17,660 1.070 1.063,323 Church Propety includes all properties owned and occupied by the Charity in Advancement of Christianity and includes the Kilkeel Presbyterian Church building, Graveyard, Carpark, Mission Hall, Endia Hall. Boyd Hall and the Manse. Church Propety was recognised in the financial statements using a fair value valuation as deemed cost on transition to SORP 2019 (FRS 102). The valuation was perfortned by independent external valuers, J F Sp¢¢rs & Son, as at 3 1st December 2022, on the basis of Fair Value. Fair Value being the amount for which an asset could be exchanged between knowledgeable, willing parties on an ann's length basis in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (FRS 102) and the Charities SORP 2019 (SORP 2019). Given the nature of the properties and the high level of on-going maintenance to which they are subjecL no depreciation is applied to Church Property. The residual value of Church Property is consideTed to b¢ at least equal to the deemed cost of the propety. Due to the age and nalure of Church propety it was not possible to reliably state the historic cost of Church property, Other fixed assets are recorded a depreciated historical Cost. 19
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Financial Statements (contlnued) Year ended 31 December 2024 18. Investments tnvestment properties Other investments Total Cost or valuation At l January 2024 Additions Fair value mov¢n]ents 190,000 11,808 201,808 558 558 At 31 Deeember 2024 190,000 12,366 202,366 Impairment At l January 2024 and 31 December 2024 Carrying arnount At 31 December 2024 190,000 12.366 202,366 At 31 December 2023 190,000 11,808 201.808 All investments shown above are held at valuation. Investmellt properties Investment propety at 18 Newcastle Street, Kilkeel has been included in the flnancial statements at fair va]ue. The valuation was perfornied by J F Speers & Son, an independent valuer) possessing relevant experience in the ar¢a. The valuation was on the basis of Market Value, as at 31 st December 2022. Market Valu¢ (fair value) is the amount for which an asset could be exchanged betwe¢n l(nowledgeable, willing parties on an arni's length basis in accordanr¢ with Financial Reporting Standard 102 'Th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland, (FRS 102) and the Charities SORP 2019 (SORP 2019). Th¢ Trustees consider the fair valu¢ of this propety at the year-end not to be materially different from the professional valuation dated 31 st December 2022. Financial assets held at fair value. Other investments are recorded at th¢ir fair value at the balance sheet date. The value of the general investment fund is deterniined by refer¢nce to the quoted price foT identical assets in an active maTket at the balance sheet date. 19. Debtors 2024 2023 Prepayments and accrued income Other debtors 6,057 32,974 6,593 29.482 39,031 36,075 20
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Flnan¢ial Statements (contlnued) Year ended 31 December 2024 20. Creditors: alnounls falling due within one year 2024 2023 Trade creditors Accruals and deferred income Social security and other taxes 426 8,420 70 4.719 55 8,916 4.774 21. Pension contribulions The arnount recognised in income or expenditure as an expense in relation to defjlled contribution plans was £9,944 (2023: £9,957). The charity operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the charity in an independently administered Fund. Th¢ pension cost charge represents contributions payable by the charity to the fund and amounted to £nil (2023 £486). No contributions(2023 - £nil) were payable to the fund at the balance sheet date. The ministeT (and 2018 Associate Minisfrr) of the congregation is a member of the Presbyterian Church in Ireland Pension Schen]e (2009). This is a schetne 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 contributions for the Scheme and based on the stipend paid to the minister. The Presbyterian ChuTch in freland Pen5i0n 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 nding plan to ensure the Schetne is sufficiently funded to meet current and future obligations. A fornial schedule of contributions was drawn whereby the Presbyterian ChuTch agreed to pay ontributions of 240/0 of pensionable salaries to cover the accrual of benefits for tllr¢ service, expev]ses, the cost of insuring death in service benefits and funding the s¢hetne deficit. During the year the charity made payrnents of £9.944 (2023 £9,471) to the fund. There were no ontributions outstanding at the balance sheet date in the cuent or prior year. 21
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Flnancial Statements (continued) Year ended 31 December 2024 22. Analysis of charitable funds Unrestricted fund5 Gains and At losses 31 Dec 2024 t l Jan 2024 Income Expenditure Transfers General ftmds Fixed Asset 33,786 18,730 122,230 (126,368) (3,492) (129.860) 14,665 558 44,871 15,238 52,516 122,230 14.665 558 60,109 Gains and At losses 31 Dec 2023 At l Jan 2023 Income Expendire Transfers General funds Fixed Asset 37.825 7,938 113,030 (123,770) (3,893) (127,663) 5,721 14,685 980 33,786 18,730 45,763 113,030 20,406 980 52,516 Restricted funds AtlJan 2024 Gains and At 31 Dec losses 2024 Income Expendithre Transfers Church Buildings Investment Properties United Appeal Fund Uganda Project Genera] Missions Fund PCI Childrens Society Faith Mission Fund Propety Fund Poppy Appeal Mourne Stitnulus Fund Open Doors Fund Wakisa Girls School Fund Special Mission Fund Irish Mission (Karen & Rhona) Fund Janice Graharn Support Irish Mission D Boyd One Mission Society Forsythes Boys Brigade Girls Brigade Youth Club Anchor Boys Bowling Fellowship Sunday School Mums & Toddlers Life BuildeTS Presbyterian Women 1,030,000 190,000 997 2,354 17,129 30,000 1.060,000 190,000 1.092 2,279 21,258 7,314 150 40,612 645 (i 0.000) 2,781 (2,025) ,800 (24,956) (11,527) (645) 10,786 47,034 754 561 2.080 (29,369) (9.745) (754) (561) (2.080) 18,706 12.821 221 (6,000) 7,042 460 350 (4,960) (1,750) 4.500 1.400 (1,200) (2,572) (2,997) 1,200 1,110 1,599 2,554 621 2,160 102 1,778 38,870 912 2,372 4,136 910 2,438 2,554 362 2,354 544 2.675 16,024 1,426 (300) 486 761 442 4,387 37,112 2,555 (745) (447) (120) (3,490) (29,958) (30,000) (3,387) 1.346 1.3 13.793 152,432 (121,896) (14.665) 1,329.664 22
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Financial Statements (continuedj Year 8nded 31 December 2024 22. Analysis of eharitabl¢ funds (continued) Atljan 2023 Gains and At 31 Dec losses 2023 Income Expenditure Transfers Church Buildings Envestment Properties United Appeal Fund Uganda Project GeneTal Missions Fund PCI Childrens Society Faith Mission Fund Propety Fund Poppy Appeal Mourne Stimulus Fund Open Doors Fund Wakisa Girls School Fund Special Mission Fund Irish Mission (Karen & Rhona) Fund Janice Graham Support Irish Mission D Boyd One Mission Society Forsythes Boys Brigade Girls Brigade Youth Club Anchor Boys Bowling Fellowship Sunday School Mum5 & Toddlers Life Builders Presbyterian Women 1,030,000 190,000 702 1,030,000 190,000 997 8,154 (i 0,000) 2,141 19.628 20,990 380 210 52,599 (13,030) (10,459) (3 80) (300) 90 (34.240) (20,181) 17,129 12,608 10,786 354 1.664 675 45 {374) (1.767) (2, l30} 20 103 1,000 2,809 12.776 2,354 12,821 loo (5.075) 4,975 (2.400) 2,400 (1,200) (3,606) (3.761) (1,586) (563) (252) (250) (3,878) {29,787) (3,459) (450) (118,038) (20,406) 1,200 443 2,400 2,745 710 1,837 96 2,765 31,507 801 4,273 3,555 1,395 474 695 506 3,171 37,150 4,020 I,iio 1,599 2,554 621 2,160 102 1,778 38,870 912 (595) (120) (250) (280) 1,311,827 140,410 1.313,793 23
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Flnancial Statements (contInU) Year anded 31 Decemb8r 2024 23. Analysis of net assets behveen funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fed assets Investments Current assets Creditors less than l year Net assets 15,238 12,366 41,421 (8,916) 1,066,047 190,000 73,617 1,081,285 202,366 115,038 (8,916) 1,389,773 60,109 1,329,664 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Investments Current assets Creditors less than l year Net assets 18,730 11,808 26,752 (4,774) 52,516 1,044,593 190,000 79,200 1,063,323 201,808 105,952 (4,774) 1,366,309 1,313,793 24. Related partles The Minister, Rev Stephen Johnston is considered to be key management personnel of the Charity. Totsl remuneration paid to Rev Johnston by way of his employment with the Church is detailed in Note 16, Rev Stephen Jolmston occupied residential church property at Newcastle Street, Kilk¢¢l (The Manse) in his role as Minister of tbe Congregation. Rev. Johnston was not charged rent for use of this property. During the year the charity reimbursed several trustees for charity expenses paid personally by them on behalf of the Church. These repayments totalled as follows.. Trustee Rev Stephen Johnston - £413 (2023 - £nil) TTUStee Mr D Orr- £nil (2023 - £1,326) Trustee Mr O Wallace - £413 {2023 - £164) During the year the charity paid £597 (2023 -£11.612) to a business aO¢lated with trnstee Mr O Wallace and £684 (2023 - £1,485) to a business associated with Istee Mr D Mcculla. All these payments represented commercial transactions in relation to goods & services provided to the Church.
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Flnancial Statements (continuod) Year ended 31 December 2024 25. Transition to SORP 2019 (FRS 102) Thi5 is the first year that the charity has presented its fll]ancial statements under SORP 2019 and FRS 102. The last financial statements, for the year ended 31 December 2023, were propared on a historical cost, receipts and payment basis. Given that during 2024 the Charity has breached the upper threshold pennitting this basis of preparation, the Charity, as required. has fully implemented SORP 2019 and FRS 102 for the year end 31 December 2024. The transition date to SORP 2019 and FRS 102 is therefore l January 2023. Adopting SORP 2019 and FRS 102 has meant that several a¢rounting policies hav¢ changed to cornply with the new stsndard The reconciliation is as follows. Reconcillation of totsl funds l January 2023 31 December 2023 Total funds under previous UK GAAP Deficit for the year General Investment 82,363 1,357,590 (12,487) 980 10,828 1.030,000 190,000 25,992 25,787 (7,3 80) Church Property Investtnent property Church equipment & assets Adjustment for year end debtors & prepayrnents Adjustment for year end creditors & accrnals Church equipment deprecTation 19,985 10,288 2,607 (l2,654) Totsl funds report¢d under FRS 102 1,357,590 1,366,309 Reconeiliation of equlty l January 2023 31 December 2023 As previously stat¢d SORP 19 Effect of FRS 102 transition (as restated) SORP 19 Effect of FRS 102 transition (as restated) previously stated Fixed assets Tangible fixed assets Investments 1,055,992 200,828 1,055,992 200,828 7,331 980 1,063,323 201,808 1.256,820 1,256,820 8.311 1,265,131 Current assets Creditors.. <1 yr 82,363 25,787 (7,380) 108,150 {7,380) 69,876 10,288 2,607 105,952 (4,774) Net current assets 82,363 1,275,227 1,357,590 69,876 21,206 1,366,309 25
Kilkeel Congregation Of The Presbyterian Church In Ireland Notes to the Flnanclal Statements (continued) Year ended 31 December 2024 25. Transition to SORP 2019 {FRS 102) contlnued Reconciliation of equity (continued) l January 2023 31 December 2023 SORP 19 Effect of FRS 102 previously transition (as restated) stated SORP 19 Effect of FRS 102 tran51tion (as restated) previously stated Total assets less Cuent liabilities 82,363 1.275,227 1,357,590 69,876 21,206 ,366,309 Net asse15 82,363 1.275,227 1,357,590 69,876 21,206 1,366,309 Funds of the Charity Restricted Unrestricted 64,840 17,523 1,228,933 46,294 1,293,773 63,817 65,924 3,952 18,936 2,270 1,313,793 52,516 Capital and reserves 82,363 1,275,227 1,357,590 69,876 21,206 1,366,309 Reconclliation of net in¢ome Year ended 31 December 2023 SORP 19 previously stated Effect of transition FRS 102 (as restated) Income and endowments Donations and legacies Charitable activitTes Other trading activities Investment income Other income Proceeds sale of assets 189,757 42,021 122 11,342 407 650 9,141 198,898 42,021 122 11,342 1.057 650 {650) Total income 244,299 9,141 253,440 Expenditure Exp. on charitable activities Purchase of fixed assets Refurbishment of Charity buildings 211,773 17,502 27,511 33,928 (17.502) (27.511) 245,701 Total expenditure 256,786 (11,085) 245,701 Net gains on investments 980 980 Net movement in (unds for year (12,487) 21.206 8,719 26