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2024-12-31-accounts

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland

Trustees Report for the year ended 31st December 2024

Registered with the Charity Commission for Northern Ireland NIC105217

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland Trustees Annual Report and Financial Statements for the year ended 31st December 2024

Contents
Charity Reference and Administrative Details 1
Trustees Annual Report 2 - 9
Independent's Examiner's Report 10
Statement Of Financial Activities 11
Balance Sheet 12
Notes to the Accounts 13 - 25

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland Trustees Annual Report and Financial Statements for the year ended 31st December 2024

CHARITY TRUSTEES

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

Miss Avril Lang Mr John Stevenson Miss Susan Hamilton Mr Maitland Eves Mr Andrew Thompson Mr Robin Dixon Mr Brian Jones Mr Nigel Kennedy Mr Brian Sloan Mrs Anne Kennedy Mr Clifford Browne Mr Noel Corbett Mr Denis Smith Mr Owen Hare Mr George Monaghan Mr Robert Crangle Mr Graeme Crangle Mr Ian Marshall Mrs Gladys Brown Mrs Wilma Sloan Mrs Helen Sloan Mr Ron Crangle

Mr Ron Crangle Mr Roy Mccullough Mr Simon Kelly Mr Trevor McMechan Mr Mark Hamilton Mrs Anna Harbinson Mrs Daphne Gilmore Rev David Stanfield Rev Mairisine Stanfield Mrs Joy Hare Mr Stephen Jardine

PRINCIPAL OFFICE BEARERS

Minister Rev Mairisine Stanfield Associate Minister Rev David Stanfield Clerk of Session Mrs Anne Kennedy Treasurer Mrs Joy Hare

INDEPENDENT EXAMINER

BANKERS

Danske Bank Bloomfield, Bangor

SOLICITORS

McCoubrey Hinds Solicitors 61 Main Street Bangor BT20 5AF

1

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT

for the year ended 31st December 2024

The Trustees present their Annual Report and Financial Statements for the year ended 31 December 2024 including a Balance Sheet as at that date.

STRUCTURE AND MANAGEMENT

The charity trustees of the congregation 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, the 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 ensures pastoral care is in place in the congregation and seeks to further the contribution of the Church to Christian witness and service in the local community. The Kirk Session has delegated to its Congregational Committee the temporal affairs of the congregation including administering all funds and property 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 congregation. All members are entitled to propose, speak and exercise equal votes at meetings, except that the Moderator, and other ministers in active duty in the congregation, have no deliberative but only a casting vote.

Stated meetings of the Kirk session are held on the first Tuesday of September, November, December, February, March & May

To be chosen for the office of the eldership in the congregation a person must be a voting member and a regular attendant on its ordinances. The selection of those proposed to be called to the office can be either by the congregation or by the Kirk Session. Members are elected if they obtain twothirds of those who vote.

Presbytery

Under the Presbyterian Church in Ireland form of governance the corporate 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. First Bangor Presbyterian Church has been assigned to the Ards Presbytery of the Presbyterian Church in Ireland. The membership of the Presbytery consists mainly of the active ministers of congregations assigned to it by the General Assembly, minsters who have retired from active duty and an elder appointed by the Kirk Session of each congregation.

2

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland

TRUSTEES ANNUAL REPORT (cont’d)

for the year ended 31st December 2024

The General Assembly

The 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 brought before it. The General Assembly is normally constituted during the first week in June for worship and to conduct its business. At the end of business it is dissolved. The membership of the General Assembly consists mainly of the active ministers of each congregation, retired minsters and a representative elder appointed by the Kirk Session of each congregation.

DESCRIPTION AND PURPOSE

First Bangor Presbyterian Church is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Reformed Church within the wider body of Christ is grounded in the Scriptures, and exists to love and honour God through faith in His Son and by the power of His Spirit, and to enable her members to play their part in fulfilling God’s mission to our world.

3

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT (cont’d)

for the year ended 31st December 2024

ACTIVITIES AND OBJECTIVES

The congregation meets for worship every Sunday and visitors are welcome to join in. The Sacrament of the Lords Supper is observed on several 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 meetings in small groups to help people grow in faith and pastorally care for one another and has a wide range of activities and organisations including:

l Model Railway Club Community built around an interest in model railways

ACHIEVEMENTS AND PERFORMANCE

Worship and prayer

The congregation normally meets for worship each Sunday at 11.00am. There are opportunities for prayer in the Prayer Room or the Sanctuary every day from 9.00am to 5.00pm as well as specific times when people gather for prayer (currently Tuesday & Sunday mornings). During the week small groups and other courses provide an opportunity for members, and anyone else who would like to join in, to meet together to grow in faith, enjoy fellowship, study the scriptures and pray.

As well as our regular services during the year we acknowledged God’s gift of new life at 5 Sacraments of Baptism, welcomed 20 new families, gave thanks for faithful service and sought to comfort those who had been bereaved during the year.

At 31 December 2024 there were 348 communicant members and 311 families connected with the congregation.

The average week attendance at morning worship is 400.

Pastoral care

Members of the congregation who are unable to attend church due to sickness or age are visited on a regular basis by one of the ministers, elders or by one of the congregation’s pastoral visitors.

4

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland

TRUSTEES ANNUAL REPORT (cont’d)

for the year ended 31st December 2024

Mission and outreach

At a local level the congregation:

Offered regular opportunities to participate in the ALPHA and Christianity Explored Courses.

Partnered with nearly 50 other churches in the surrounding area to support Storehouse North Down and the Kiltonga Christian Centre, ministries supplying food, clothing and furniture to those in need.

The congregation supported 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 outreach on denominational basis beyond what the congregation could do on its own. The United Appeal Fund provides financial support for mission personnel at home and overseas, assists congregations with the deployment of locally based staff, enables church planting, provides grant support for the upkeep of church premises, assist with the running costs of Union Theological College, the Church’s training college for ministry students, and financially supports congregation in the areas of worship, discipleship, global mission, outreach, leadership and pastoral care.

Presbytery

The congregation was represented at the regular meetings of Presbytery by our ministers and / or one of the elders. This provides an important link between the congregations and the wider structures of the church.

General Assembly

The ministers 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 Salters Trust: A property in Annes Court is rented out to generate income to be used for our charitable purposes. The rent received from Ulster Estates Ltd remained the same during the year.

The other property owned by the congregation, 'The Manse', is used as accommodation for the Minister.

5

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT (cont’d)

for the year ended 31st December 2024

Organisations

Big Tree House (BTH) Our children's ministry on a Sunday. This involved children of primary school age and included learning to worship God through music, talking to Him in prayer and growing relationship with Him through experience, activities and teaching (average attendance 30).

Big Tree Collective (BTC) Sunday Morning This youth ministry on Sunday mornings offered the opportunity for discussion and learning that supplimented the discipleship training on Saturday nights. Big Tree Collective (BTC) Sunday Evening Our youth ministry on a Sunday evening was geared towards the discipleship of Years 8-14 at secondary school (average attendance 18).

The Girls' Brigade met on Wednesday nights and is for girls aged between 3-18 years old. The badges that they worked towards included attendance at GB, Church attendance and the section badge. For the section badge girls participated in activities like: studying the Bible; PE, badminton, netball, touch rugby; baking, Brigade knowledge, felting, healthy eating; running a coffee evening for family and friends, and visiting the elderly. The GB has about 120 girls and leaders.

The Boys' Brigade worked with around 80 boys between the ages of 4–18 and met every Friday evening from Sept to April. The younger boys enjoyed games, craft and stories. The Junior boys played football, worked towards being awarded badges, went on trips to the Lifeboat station and bowling. The older boys enjoyed a wide range of activities, sports and trips to Eddie Irvines. Their badge work ranged from cooking, robotics, learning about our community to learning to play the ukulele. Many also worked towards the Queens Badge and the Duke of Edinburgh award scheme.

DORCAS A craft making group for women of all ages that meets on Thursday mornings (average attendance 25).

Presbyterian Women (PW) Met on the 3rd Tuesday of each month to learn about and support mission projects (average attendance 30).

Model Railway Club A group that is currently all male that met every Wednesday evening and also both hosted and exhibited at Exhibitions (average attendance 20).

Bowling Clubs Met at various times each week forboth men and women.

6

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT (cont’d)

for the year ended 31st December 2024

Volunteers

The Trustees wish to acknowledge their deep appreciation of the more than 130 volunteers who give freely of their time by serving on committees and helping with organisations and other church activities.

PUBLIC BENEFIT 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 advancement 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 need (including the sick, disabled and bereaved).

Generally the above benefits are delivered locally by congregations and their members, or are facilitated through presbyteries or are organised and delivered centrally. Local delivery is facilitated by central resources in almost all cases. Public access is made known through the use of noticeboards, printed material, press advertisement, websites, and social media or in other ways.

The benefits are demonstrated through regular evaluation of the services and informal and ad-hoc feedback from members, their families, and members of the public.

The benefits are demonstrated through regular evaluation of the services and informal and ad-hoc feedback from members, their families, and members of the public.

The purpose does not lead to harm. The only private benefit flowing from our purpose is related 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 incidental and necessary in order to further our charitable 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 guidance.

7

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT (cont’d)

for the year ended 31st December 2024

FINANCIAL REVIEW

The congregation’s main source of income is members’ contributions through the Weekly Freewill Offering. The contributions during the year was £180,721 compared to £187,670 for the previous year.

Total income increased to £448,971 compared to £401,142 the previous year.

Total expenditure increased to £589,345 compared to £448,706 the previous year.

RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the congregations and the financial activities for that year. In preparing the financial statements the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the funds transactions and disclose with reasonable accuracy at any time the financial position of the congregations and enable them to ensure that the financial statements comply with the Statement of Recommended Practice “Accounting and Reporting by Charities (1 January 2015)”. They are also responsible for safeguarding the assets of the congregation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

8

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT (cont’d)

for the year ended 31st December 2024

GOING 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 financial statements to meet commitments 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 commitments.

RESERVES POLICY

The Trustees have considered the level of unrestricted reserves that it is appropriate to hold,taking account of current and ongoing commitments. It is the policy of the Trustees to hold at least 3 months normal expenditure (£125,965 based on 2024 expenditure). At the year end, easily accessable/liquid reserves were £132,390.

RISK REVIEW

A review of major risks has been undertaken by the Trustees and systems and procedures implemented to manage identified risks. The principal risks are in relation to the likelihood of reputational damage and financial risks associated with the expectation of ongoing financial support from members. These risks are mitigated by the Trustees, and the Congregational Committee, regularly monitoring the various activities of the congregation at stated meetings and by encouraging members in their regular giving.

Approved by the Kirk Session at a meeting on 10th October and signed on their behalf by Rev. Mairisine Stanfield & Mrs Anne Kennedy

9

Independent Examiner's Report for the ending 31st December 2024

To the trustees of First Presbyterian Church

I report on the Financial Statements as attached

Respective responsibilities of trustees and examiner

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008.

It is my responsibility to:

Basis of independent examiner's report

I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.

My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe:

Independent examiner's statement

Since your charity’s gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

10

Independent Examiner's Report for the year ending 31st December 2024

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

Tony McAleenan FCA Independent Examiner Broad Street Advisory Chartered Accountants & Business Advisors 94 Hamilton Road, Bangor

1st March 2025

11

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland

Financial Statements for the year ended 31st December 2024

Registered with the Charity Commission for Northern Ireland NIC105217

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS

31st 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 section 1A for small entities.

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.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

The church meets the definition of a public benefit entity as defined in section 34 of FRS102.

In the opinion of the Trustees, there are no significant judgements, assumptions or estimates included in the financial statements, other than those described in the accounting policies below.

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.

13

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS

31st December 2024

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 actually realised. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.

14

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS

31st December 2024

1 ACCOUNTING POLICIES (cont’d)

(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.

(vii) Volunteer help

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

(viii) Investment income

This is included in the accounts when receivable.

(ix) 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

(x) Liability recognition

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

(xi) 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.

(xii) 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.

15

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS

31st December 2024

1 ACCOUNTING POLICIES (cont’d)

(xiii) 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.

(xiv) Volunteer help

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

(xv) Investment income

This is included in the accounts when receivable.

(xvi) 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

(xvii) Liability recognition

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

(xviii) 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.

(xix) 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.

16

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS

31st December 2024

1 ACCOUNTING POLICIES (cont’d)

(xx) Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

ASSETS

(xxi) Tangible Fixed Assets

Tangible fixed assets for use by charity are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or, if gifted, at the value to the charity on receipt.

It is the view of the trustees that the Manse is a "residential home" for valuation purposes, and as such it's bulding is not used as part of the Chuch's main activities. The property is maintained sufficently to consider that its value will not reduce.

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

Buildings over 50 years Land none Manse none Equipment straight line over the life of the asset

(xxii) 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.

17

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland STATEMENT OF FINANCIAL ACTIVITY

for the year ended 31st December 2024

Notes
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Other activities
4
Investments
5
Other
Total
Expenditure on:
Raising funds
6
Charitable activities
7
Other
8
Total
Net Income / (expenditure)
Transfers between funds
Gains/(loss) on revaluation of
assets
Gains/(loss) on disposal of assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total Funds
2024
£
£
£
£
211,716
105,657
-
317,373
36,813
2,401
-
39,214
9,057
26,687
-
35,744
44,680
-
11,960
56,640
-
-
-
-
302,265
134,745
11,960
448,971
412
-
-
412
350,480
208,462
2,988
561,929
27,003
-
-
27,003
377,895
208,462
2,988
589,345
(75,630) (73,717) 8,972 (140,374)
36,798 20,336 (57,134) -
296 296
- -
(38,832) (53,381) (47,866) (140,078)
1,935,872
97,945
294,371
2,328,188
1,897,040
44,564
246,505
2,188,110		 Total Funds
2023
£
275,592
12,484
61,939
51,128
-
401,142
384
412,082
36,239
448,706
47,563
-
-
2,028
37,908
7,628
-
2,335,816
2,328,188

The notes on pages 13 to 25 form part of these accounts

11

Accounts

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland BALANCE SHEET

As at 31st December 2024

Notes
Unrestricte
d Funds
Restricted
Funds
Endowmen
t Funds
Total Funds
2024
£
£
£
£
Fixed assets:
Tangible assets
11
1,852,854
-
1,852,854
Investments
12
-
-
189,467
189,467
Total fixed assets
1,852,854
-
189,467
2,042,321
Current assets
Debtors & prepayments
13
14,307
-
-
14,307
Cash at bank and in hand
14
34,709
122,486
57,038
214,233
Total current assets
49,015
122,486
57,038
228,540
Liabilities:
Creditors: Amounts falling due
within one year
15
4,829
7,922
-
12,751
Net current assets or liabilities
44,186
114,564
57,038
215,789
Total assets less current
liabilities
1,897,040
114,564
246,505
2,258,110
Creditors: Amounts falling due
after more than one year
16
-
70,000
-
70,000
Total net assets or liabilities
1,897,040
44,564
246,505
2,188,110
Funds of the charity
1,897,040
44,564
246,505
2,188,110		 Total Funds
2023
£
1,872,703
248,013
2,120,716
12,204
226,680
238,884
17,412
221,472
2,342,188
14,000
2,328,188
2,328,189

The financial statements have been prepared in accordance with the provisions under Section1A of FRS102 "The Financial Repsorting Standard applicable in the UK and Republic of Ireland". Approved by Kirk Session and signed on its behalf by

Rev. Mairisine Stanfield

Mrs Anne Kennedy

The notes on pages 13 to 25 form part of these accounts

12

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS

31st December 2024

NOTES TO THE ACCOUNTS (cont’d)

2. DONATIONS AND LEGACIES

Recorded giving:
FWO, Stipend & CMF
Loose collections
Donations, gifts & grants
Donations from organsiations
Gift Aid
Legacies and bequest		 Unrestricted
Funds
Restricted
Funds
Endowme
nt Funds
Total
Funds
2024
£
£
£
£
142,561 64,956
207,517
753
753
21,066 27,875
48,942
5,310
5,310
32,025 12,825
44,851
10,000 -
10,000
211,716 105,657 - 317,373		 Total Funds
2023
£
193,545
2,734
16,864
17,168
44,710
570
275,592

3. CHARITABLE ACTIVITIES

Weddings, Funerals, Family
Weekend. Cateering, Events
Sundry		 Unrestricted
Funds
Restricted
Funds
Endowme
nt Funds
Total
Funds
2024
£
£
£
£
36,215 2,401
38,616
598
598
36,813 2,401 - 39,214		 Total Funds
2023
£
11,275
1,209
12,484

18

Accounts

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS

31st December 2024

4. OTHER ACTIVITIES

Letting of premises
Misc Income
Organisational Income		 Unrestricted
Funds
Restricted
Funds
Endowme
nt Funds
Total Funds
2024
£
£
£
£
9,005
9,005
52
52
26,687
26,687
9,057 26,687 - 35,744		 Total
Funds
2023
£
8,131
11,695
42,114
61,939

5. INVESTMENTS

Deposit interest
General Invest Fund
Property Rents
6.RAISING FUNDS COSTS
FWO envelopes		 Unrestricted
Funds
Restricted
Funds
Endowme
nt Funds
Total Funds
2024
£
£
£
£
516
516
3,035 3,035
44,164
8,925 53,089
44,680 - 11,960 56,640
.
Unrestricted
Funds
Restricted
Funds
Endowme
nt Funds
Total Funds
2024
£
£
£
£
412
412		 Total
Funds
2023
£
383
3,725
47,020
51,128
Total
Funds
2023
£
384

19

Accounts

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31st December 2024

7. CHARITABLE ACTIVITIES

General Assembly
Assessments
Presbytery fees
Ministry and support
staff costs
Congregational running
expenses
Organisation Expenses
Donations to Missions
and charities
Governance costs		 Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total Funds
Total Funds
2024
2023
£
£
£
£
£
18,313
18,313_16,240_
-
-1,183
239,124
239,124_218,043_
91,815 149,277 1,383 242,475_92,376_
27,266
27,266_39,861_
31,919
31,919_37,701_
1,227
1,605 2,832_6,678_
350,480 208,462 2,988 561,929_412,082_

8. OTHER EXPENDITURE

Loan Interest
Investment properties
expenses
Depreciation		 Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total Funds
Total Funds
2024
2023
£
£
£
£
£
--
--
27,003
27,003_36,239_
27,003 - - 27,003_36,239_

20

Accounts

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31st December 2024

9. EMPLOYEES Employment Costs

Wages and Salaries
Social Security Costs
Widows
Pension contributions		 2024
£
187,558
11,146
1,080
23,258
223,042		 2023
£
167,565
10,634
1,129
21,830
201,158

Number of Employees

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

2024 2023
Average number of employees 7 7

There were no employees in receipt of employee benefits in excess of £60,000.

21

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS

31st December 2024

10. PENSION COSTS

The Minister and Associate Minister of the congregation are members 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 each 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

The contributions made by the congregation during the year were
Minister's & Staff Contributions Total Funds
2024
£
23,258
23,258

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.

22

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS

31st December 2024

11. TANGIBLE FIXED ASSETS

Cost or valuation
At start of year
Additions
Disposals
At end of year
Depreciation
At start of year
Provision for year
Disposals
At end of year
Net Book Value
At start of year
At end of year
12.INVESTMENTS
General Investment Fund
NICIF
Investment Properties
Value at start of year
Additions
Disposals
Impairment
Gains / (Losses on
revaluation)
Value at end of year		 Land & Buildings
Equipment
£
£
2,062,511 99,270
7,154
2,062,511 106,424
194,960 94,118
24,370 2,633
219,330 96,751
1,867,5515,152
1,843,181 9,673
2024
-
54,223
54,223
135,244
189,467
112,769
-58842
296
54,223		 Total
£
2,161,781
7,154
-
2,168,935
289,078
27,003
-
316,081
1,872,703
1,852,854
2023
60,333
52,436
112,769
135,244
248,013
110,741
2,028
112,769

23

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS

31st December 2024

13. DEBTORS

Prepayment
Gift Aid Recoverable		 Unrestrict
Funds
Restricted
Funds
Endow.
Funds
Total
2024
10,136
10,136
4,171
4,171
14,307 - - 14,307		 Total
2023
8,657
3,547
12,204

14. CASH AT BANK AND IN HAND

Organisation Accounts
Building Fund
Fundraising Account
Other
Revenue account & Cash
Salters Trust		 Unrestrict
Funds
Restricted
Funds
Endow.
Funds
Total
2024
18,863
18,863
14,938
14,938
146
146
88,540
28500 117,040
34,709
34,709
28,538 28,538
34,709 122,486 57,038 214,233		 Total
2023
19,441
102,448
167
58,265
46,358
226,680

15. CREDITORS: amount falling due within one year

Accruals
Advanced rentals
Other		 Unrestrict
Funds
Restricted
Funds
Endow.
Funds
Total
2024
1,261 4,242
5,503
3,680
3,680
3,568
3,568
4,829 7,922 - 12,751		 Total
2023
9,857
3,680
3,875
17,412

16. CREDITORS: amount falling due after more than one year

Loans Unrestrict
Funds
Restricted
Funds
Endow.
Funds
Total
2024
70,000
70,000
- 70,000 - 70,000		 Total
2023
14,000
14,000

24

First Bangor Presbyterian Church a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS

31st December 2024

17. RELATED PARTY TRANSACTION

Two of the Trustees received remuneration during 2024, the minister of the congregation received remuneration of £49,691, and expenses of £8,176, for acting in that capacity. Pension contribution of £11,926 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009). The Associate Minister of the congregation received remuneration of £36,845 and pension contributuons of £8,843 for acting in that capacity. None of the other trustees received any remuneration, nor claimed expenses during the year in connection with their duties.

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

£6.004 for congregational assessments £5,564 towards incidental fund £2,160 towards Assembly buildings external works. £4,585 towards other PCI funds £17,111 towards United Appeal £1,187 towards World Development Appeal

There were no other related party transactions.

25

Year for the year ended 31st December 2024
Balance Sheet As at 31st December 2024
Notes 31st December 2024
Current Year 2024
Prior Year 2023