## **Maze Presbyterian Church A Congregation of the Presbyterian Church in Ireland** 

## **Financial Statements For the year ended 31 December 2024** 

Registered with the Charity Commission for Northern Ireland NIC105201 

Page 1 of 11 



## **MAZE PRESBYTERIAN CHURCH** 

## **A congregation of the Presbyterian Church in Ireland** 

## **STATEMENT OF FINANCIAL ACTIVITY** 

## **For the year ended 31 December 2025** 

||**Notes**|**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Total**<br>**Funds**<br>**2024**|**Total**<br>**Funds**<br>**2023**|
|---|---|---|---|---|---|---|
|**Income and**<br>**Endowments**<br>**from:**||**£**|**£**|**£**|**£**|**£**|
|Regular Direct<br>Giving|2|202,822|102,370|0|305,192|309,360|
|Donations and<br>legacies|3|3,037|62|0|3,099|7,278|
|Other activities<br>that generate<br>income|4|5,842|1,022|0|6,864|4,704|
|Investments|5|1,119|182|0|1,301|1,585|
|Other||11,286|0|0|11,286|0|
|**Total**||**224,106**|**103,636**|**0**|**327,742**|**338,397**|
||||||||
||**Notes**|**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Total**<br>**Funds**<br>**2024**|**Total**<br>**Funds**<br>**2023**|
|**Expenditure on:**||**£**|**£**|**£**|**£**|**£**|
|Congregational<br>Life & Work|6|18,280|14,737|0|33,017|18,168|
|Charitable<br>activities|7|162,325|37,265|0|199,590|180,461|
|Other|8||||||
|**Total**||**180,605**|**52,002**|**0**|**232,607**|**198,629**|
|Net gains/(losses)<br>on investments|||||||
|**Net Income/**<br>**(expenditure) **||**43,501**|**51,634**|**0**|**95,135**|**139,768**|
|Transfers between<br>funds||(56,151)|56,151|0|0|0|
|Gains/(losses on<br>revaluation of<br>fixed assets|13|||2,136|<br>**2,136**|**3,751**|
|**Net movement in**<br>**funds**||**(12,650)**|**107,785**|**2,136**|**97,271**|**143,519**|
|Reconciliation of<br>funds:|||||||
|Total funds<br>brought forward||**107,025**|**704,722**|**45,192**|**856,939**|**713,420**|
|**Total funds**<br>**carried forward**|18|**94,375**|**812,507**|**47,328**|**954,210**|**856,939**|



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## **BALANCE SHEET as at 31 December 2024** 

||**Notes**|**Unrestrict**<br>**ed Funds**|**Restricted**<br>**Funds**|**Endowme**<br>**nt Funds**|**Total**<br>**Funds**<br>**2024**|**Total Funds**<br>**2023**|
|---|---|---|---|---|---|---|
|||**£**|**£**|**£**|**£**|**£**|
|**Fixed assets**|||||||
|Tangible assets|12|0|900,000|0|900,000|900,000|
|Investments|13|0|0|47,328|47,328|45,192|
|**Total fixed assets**||**0**|**900,000**|**47,328**|**947,328**|**945,192**|
|**Current assets**|||||||
|Debtors|14|37,883|8,555|0|46,438|64,281|
|Cash at bank and in<br>hand|15|56,492|16,047|0|72,539|126,369|
|**Total current**<br>**assets**||**94,375**|**24,602**|**0**|**118,977**|**190,650**|
|**Liabilities**|||||||
|Creditors: Amounts<br>falling|||||||
|due within oneyear|16|**0**|0|0|0|67,976|
|**Net Current assets**||**94,375**|**24,602**|**0**|**118,977**|**122,674**|
|**Total assets less**<br>**current liabilities**||**94,375**|**924,602**|**47,328**|**1,066,305**|**1,067,866**|
|Creditors: amounts<br>fallingdue|||||||
|after more than<br>oneyear|17|**0**|112,095|0|112,095|210,928|
|**Total net assets or**<br>**liabilities**||**94,375**|**812,507**|**47,328**|**954,210**|**856,938**|
||||||||
|**Funds of the**<br>**charity **|||||||
|Endowment funds||0|0|47,328|47,328|45,192|
|Restricted income<br>funds|18|0|812,507|0|812,507|704,721|
|Unrestricted funds|18|94,375|0|0|94,375|107,025|
|Revaluation reserve|||||||
|**Total charity funds**||**94,375**|**812,507**|**47,328**|**954,210**|**856,938**|



Approved by the Kirk Session and signed on its behalf by: 



________________________ _____________________________ Very Rev Dr William Henry Professor Paul Hanna 

Date **3 September 2025** 

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## **NOTES TO THE ACCOUNTS 31 December 2024** 

## **1. ACCOUNTING POLICIES** 

## **BASIS OF FINANCIAL STATEMENTS** 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland (FRS102) (effective 1 January 2015). 

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. 

- i 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. 

## **INCOMING RESOURCES** 

- i Recognition of incoming resources 

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

      - the congregation becomes entitled to the resources; 

      - the trustees are virtually certain they will receive the resources; and 

      - the monetary value can be measured with sufficient reliably 

- 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. 

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- 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 actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. 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. 

- 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** 

## i Liability recognition 

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

## ii Governance costs 

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

## iii 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. 

- iv Grants payable without performance conditions 

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

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## **ASSETS** 

## i Tangible Fixed Assets 

Apart from land and completed and utilized buildings, the charity does not capitalize any other potential fixed assets such as fixtures and fittings or computer equipment. Instead, these costs are written off in the accounting period in which the cost occurred. 

The charity has chosen not to depreciate the building in its accounts. This decision is based on the organization's assessment that the buildings are expected to retain their value over time due to their strategic significance, ongoing maintenance, and current market conditions. 

The land and buildings are carried at its deemed valuation in the financial statements, which has been agreed by the congregational Kirk Session, ensuring transparency and consistency in reporting. Any future changes to this policy will be evaluated and disclosed accordingly 

## ii 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 escmate of market value. 

## **2. Regular Direct Giving** 

||**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Total Funds**<br>**2024**|**Total Funds**<br>**2023**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|Recorded Giving|159,046|84,490|0|243,536|231,783|
|Loose|8,873|0|0|8.873|13,296|
|Gift Aid|34,903|17,880|0|52,783|64,281|
|**TOTAL**|**202,822**|**102,370**|**0**|**305,192**|**309,360**|



## **3. Donations & Legacies** 

||**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Total Funds**<br>**2024**|**Total Funds**<br>**2023**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|Gift Days &<br>Special Collections|630|0|0|630|7,228|
|Other Gifts &<br>Donations|2,407|62|0|2,469|50|
|**TOTAL**|**3,037**|**62**|**0**|**3,099**|**7,278**|



## **4. Activities that Generate Income** 

||**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Total Funds**<br>**2024**|**Total Funds**<br>**2023**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|Church Events|5,006|1,022|0|6,028|3,144|
|Sales of Books etc|836|0|0|836|1,560|
|**TOTAL**|**5,842**|**1,022**|**0**|**6,864**|**4,704**|



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## **5. Investments** 

||**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Total Funds**<br>**2024**|**Total Funds**<br>**2023**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|Deposit Interest|0|182|0|182|703|
|General<br>Investment Fund|1,119|0|0|1,119|882|
|**TOTAL**|**1,119**|**182**|**0**|**1,301**|**1,585**|



## **6. Congregational Life & Work** 

||**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Total Funds**<br>**2024**|**Total Funds**<br>**2023**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|Worship &<br>Ministry|**4,337**|**132**|**0**|**4,469**|**6,795**|
|Mission &<br>Outreach|**13,943**|**14,605**|**0**|**28,548**|**11,373**|
|**TOTAL**|**18,280**|**14,737**|**0**|**33,017**|**18,168**|



## **7. Charitable Activities** 

||**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Total Funds**<br>**2024**|**Total Funds**<br>**2023**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|General Assembly<br>Assessments|23,766|0|0|23,766|21,927|
|Governance|5,812|0|0|5,812|27,411|
|Ministry and<br>support staff costs|67,490|0|0|67,490|57,780|
|Property &<br>Utilities|61,912|0|0|61,912|46,311|
|Donations to<br>Missions &<br>Charities|3,345|37,265|0|40,610|27,032|
|**TOTAL**|**162,325**|**37,265**|**0**|**199,590**|**180,461**|



## **8. Other Expenditure** 

||**Unrestricted**<br>**Funds**|**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Endowment**<br>**Funds**|**Total Funds**<br>**2024**|**Total Funds**<br>**2023**|
|---|---|---|---|---|---|---|---|
|||**£**|**£**|**£**||**£**|**£**|
|Other Expenses||0|0|0||0|0|
|**TOTAL**||**0**|**0**|**0**||**0**|**0**|
|**9.**<br>**Employees**||||||||
|**Employment Costs**|||**Total Funds 2024**|||**Total Funds 2023**||
||||**£**|||**£**||
|Wages and Salaries|||57,962|||47,333||
|Social SecurityCosts|||6,450|||5,068||
|Pension contributions|||9,866|||9,397||
|**TOTAL**|||**74,278**|||**61,798**||



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## **10. Number of employees** 

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

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

||**2024**|**2023**|
|---|---|---|
|Average number of employees|2|1|



## **11. Pension Costs** 

The minister of the congregacon 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 congregacon pays an assessment to the Presbyterian Church in Ireland equivalent to the employer’s pension contribucon for the Scheme and based on the scpend 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 obligacons. A formal schedule of contribucons was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contribucons 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 contribucons made by the congregacon during the year were: 

||**Total Funds 2024**<br>**£**|**Total Funds 2023**<br>**£**|
|---|---|---|
|Contribucons|9,866|9,397|



## **12. TANGIBLE FIXED ASSETS** 

||**Land & Buildings **|
|---|---|
||**£**|
|**Cost or Valuation**||
|At start ofyear|**900,000**|
|Additions|**0**|
|Disposals|**0**|
|At end ofyear|**900,000**|
|**Depreciation**||
|At start ofyear|**0**|
|Provision foryear|**0**|
|Disposals|**0**|
|At end ofyear|**0**|
|**Net Book Value**||
|At start ofyear|**900,000**|
|At end ofyear|**900,000**|



Land and Buildings represent the Church building, church hall, manse and lands at Kesh Road, Maze, Lisburn. 

Page 8 of 11 



The Trustees have undertaken an assessment of the value of the charity's land and building, in line with their responsibility to ensure accurate and transparent financial reporcng. The valuacon has been carried out considering relevant market condicons, professional guidance where necessary, and the specific use and context of the property within the charity's operacons. 

accounts and compliance with applicable accouncng standards. The valuacon is documented and available for review as part of the charity's financial records. 

## **13. Investments** 

|**13. Investments**|||||
|---|---|---|---|---|
||**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Total Funds**<br>**2024**|
||**£**|**£**|**£**|**£**|
|**Value at start ofyear**|**0**|**0**|**45,192**|**45,191**|
|Additions|0|0|0|0|
|Disposals|0|0|0|0|
|Gains / (Losses) on<br>revaluation|0|0|2,136|2,136|
|**Value at end ofyear**|**0**|**0**|**47,328**|**47,328**|



Investments comprise of 3,391units in the General Investment fund of the Presbyterian Church in Ireland. 

## **14. Debtors** 

|**14. Debtors**||||||
|---|---|---|---|---|---|
||**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Total Funds**<br>**2024**|**Total Funds**<br>**2023**|
||**£**|**£**|**£**|**£**|**£**|
|Gift Aid Recoverable|31,224|8,555|0|39,779|64,281|
|Other Amounts<br>Recoverable|6,659|0|0|6,659|0|
|**Total Debtors**|**37,883**|**8,555**|**0**|**46,438**|**64,281**|



## **15. Cash at Bank** 

|**15. Cash at Bank**||||||
|---|---|---|---|---|---|
||**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Total Funds**<br>**2024**|**Total Funds**<br>**2023**|
||**£**|**£**|**£**|**£**|**£**|
|Ulster Bank|56,492|16,047|0|72,539|126,369|
|**Total Cash at hand**|**56,492**|**16,047**|**0**|**72,539**|**126,369**|



## **16. Creditors: Amount falling due within one year** 

||**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Total Funds**<br>**2024**|**Total Funds**<br>**2023**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|Bank Loan|**0**|0|0|0|67,976|
|**Total Creditors**<br>**falling due within**<br>**oneyear**|**0**|**0**|**0**|**0**|**67,976**|



Page 9 of 11 



## **17. Creditors: amount falling due after more than one year** 

||**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Endowment**<br>**Funds**|**Total Funds**<br>**2024**|**Total Funds**<br>**2023**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|Interest Free Loans|0|112,095|0|112,095|7,000|
|Bank Loans|0|0|0|0|203,928|
|**Total Creditors**<br>**falling due after**<br>**more than oneyear**|**0**|**112,095**|**0**|**112,095**|**210,928**|



The Kirk Session has reviewed the current status of interest-free loans and has concluded, in its opinion, these loans are not expected to be repaid within the next 12 months. This assessment is based on the latest discussions and projections. 

## **18. Fund balances and reconciliation of funds** 

||**Balance**<br>**at 01 Jan**<br>**2024**|**Income**|**Expenditu**<br>**re**|**Gains /**<br>**Losses**|**Transfer**<br>**& change**<br>**in**<br>**valuation**|**Balance**<br>**at 31 Dec**<br>**2024**|
|---|---|---|---|---|---|---|
|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|**Unrestricted Funds**|||||||
|General Fund|**107,025**|224,106|180,605|43,501|(56,151)|**94,375**|
|**Restricted Funds**|||||||
|Capital Fund|**679,962**|79,322|15,473|63,849|46,409|**790,220**|
|Gift Aid Debtor|**0**|0|0|0|8,555|**8,555**|
|Endowment|**45,192**|0|0|0|2,136|**47,328**|
|Parents & Toddlers|**752**|0|0|0|0|**752**|
|Duke of Edinburgh<br>Award Scheme|**6,331**|0|0|0|0|**6,331**|
|Mission Fund|**14,880**|13,986|25,037|(11,052)|0|**3,828**|
|ThursdayCraft Club|**100**|0|0|0|0|**100**|
|United Appeal|**699**|9,466|11,353|(1,886)|1,188|**0**|
|Youth Club|**1,550**|477|0|477|0|**2,027**|
|TuesdayClub|**0**|385|139|246||**246**|
|Women at Maze|**348**|0|0|0|0|**348**|
|Moderators Appeal|**100**|0|0|0|0|**100**|
|**TOTAL**|**856,939**|**327,742**|**232,607**|**95,135**|**2,136**|**954,210**|



## **19. Related Party Transactions** 

One of the Trustees, the minister of the congregacon received remuneracon of £41,110 and expenses of £8,414 for accng in that capacity. Pension contribucons of £9,866 were paid by the congregacon in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009). None of the other trustees received any remuneracon. 

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

- £13,900 for congregaconal assessments (excluding pension fund assessment) 

- £11,352 towards the United Appeal 

Page 10 of 11 



The congregacon contributed £1,132 towards Presbytery Assessments during the year. 

There were no other related party transaccons 

## **20. Post Balance Sheet Event** 

None 

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