Presbyter
an
GLASTRY CONGREGATION
OF THE
PRESBYTERIAN CHURCH IN IRELAND
Trustees Annual Report and Financial Statements
for the year ended 31 December 2024
Reglstered with the Charity Commlssion for Northern Ireland NIC105227

Presbyter
an
CONTENTS
Page
General Informatlon
Trustees. Annual Report
Independent Examiner's Report
11
Statement of Flnanclal Activities
12
Balance Sheet
13
Notes to the Financial Statements
14

Presbyter
GLASTRY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
YEAR ENDED 31 DECEMBER 2024
GENERAL INFORMATION
Charity name
Glastry Congregation of the Presbyterian Church in I￿land
Char5ty reglstration number
NIC 105277
Charlty address
Glastry Congregation of the Presbyterian Church in Ireland
40 Manse Road
Newtownards
BT22 IDG
Contact and publlc address
Mr David McKee
10 BallyeasborouEh Road
Portavogie
Newtownards
BT22 IDB
Webslte
https://glastrypresbyterian.co.uk
Trustees
Mr James Warnock
Mr Jame5 Woods
Mr Colin Nixon
Mr William Mcclements
Mr William Taylor
Mr James Mcclement Snr
Mr David McKee
Mr Paul Warnock
Mr Jame5 Mcclements
Mr Barry Woods
Prlnclpal office bearers
M inister
Clerk of Session
Treasurer
Rev. P Bradley
Mr James Mcclements
Mr David McKee
Independent Examlner
Mr Nigel Moore
GMCG Chartered Accountant5
Alfred House
19 Alfred Street
Belfast
BT2 8EQ
Bankers
Ulster Bank
22 Frances Street
Newtownards
BT23 7DP
Sollcltors
Russell & Co.
11 Lower Mary Street
Newtownards
8T23 4JJ

Presbyter
GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
YEAR ENDED 31 DECEMBER 2024
TRUSTEES, ANNUAL REPORT
The Trustees present their Annual Report and Financial Statements for Glastry Congregation of the
Presbyterian Church in Ireland for the year ended 31 December 2024.
The trustees have adopted the Statement of Recommended Practice (SORP) "Accounting and
Reporting by Charities" IFRS 102) in preparinB the Annual Report and Financial Statements of the
charity.
The flnancial statements have been prepared in accordance with the accounting policles set out in
notes to the financial 5tatement5 and applicable accounting standards. Accounting and Reporting by
Charitie5: Statement of Recommended Practlce applicable to charities preparing their accounts in
accordance with the Flnancial Reporting Standard appliable in the UK and Republlc of Ireland issued
In October 2019, the Financial Reporting Standard the UK and Republic of Ireland IFRS 102), the
charity's governing document, the Charities Act {Northern Ireland) 2008, Charities Act (Northern
Ireland} 2013, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and UK
Generally Accepted Accounting Practice.
REFERENCE AND ADMINISTRATIVE DETAILS
Glastry Congregation of the Presbyterlan Church in Ireland
40 Manse Road
Newtownards
8T22 IDG
Registered Charity in Northern Ireland {NIC105227
CHARITY TRUSTEES
The Charity Trustee5 who served during the year were:
Mr. James Warnock
Mr. James Woods
Mr. Colin Nixon
Mr. William Mcclements
Mr. William Taylor
Mr. James Mcclements Snr
Mr. David McKee
Mr. Paul Warnock
Mr. James Mcclements
Mr. Barry Woods
PRINCIPAL OFFICE BEARERS
Minister
Clerk of Session
Treasurer
Rev. P Bradley
Mr. James Mcclements
Mr. David McKee

Presbyter
an
GLASTRY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
YEAR ENDED 31 DECEMBER 2024
TRUSTEES, ANNUAL REPORT (contlnuedj
REFERENCE AND ADMINISTRATIVE DETAILS (contlnuedj
INDEPENDENT EXAMINER
Mr. Nigel Moore
GMCG Chartered Accountants
Alfred House
19 Alfred Street
Belfast
BT2 8EQ
BANKERS
Ulster Bank
22 Frances Street
Newtownards
BT23 70P
SOLICITORS
Russell & Co
11 Lower Mary Street
Newtownards
8T23 4JJ
STRUCTURE AND MANAGEMENT
The Kirk Session
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 congregatlon.
Members of the Klrk Session are ex-officio members of the Congregational Committee.
The Kirk Session consists of the ordalned minister and the ruling elders of the congregations. All
members are entitled to propose, speak and exercise equal votes at meetings, except that the
Moderator. the ministers in active duty in the con6re8ation, has no deliberatlve but only a casting
vote.
Stated meetings of the Kirk session are held at least twlce a year.

Presbyter
an
GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
YEAR ENDED 31 DECEMBER 2024
TRUSTEES, ANNUAL REPORT (contlnued)
STRUCTURE AND MANAGEMENT (contlnuedj
Recrultment and Appolntment of the Kirk Sesslon
To be chosen for the office of the eldership in the congregation a person must be a votlng member
and a regular attendant on its ordinances. The selectlon 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 two-
thirds of those who vote.
Presbytery
Under the Presbyterlan Church in Ireland form of governance the corporate oversight of a
congregation is the responslbility of a Presbytery whlch superintends generally the spiritual and
temporal affalrs of the congregations assigned to it by the General Assembly of the Presbyterian
Church in Ireland. Glastry Congregation of the Presbyterian Church has been assigned to the Ards
Presbytery of the Presbyterlan Church In Ireland.
The membership of the Presbytery consists mainly of the active ministers of congregations assigned
to it by the General Assernbly, ministers who have retired from active duty and an elder appointed
by the Klrk Sesslon of the congregation.
The General Assembly
The General Assembly is the supreme court of the Church, representing in one body the whole
Church and acting as it5 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 worshlp and to conduct its business, At the end of business it is dis501ved,
The membership of the General Assembly conslsts mainly of the actlve mlnisters of each
congregation, retlred mlnlsters and a representative elder appointed by the Kirk Session of each
congregation.
DESCRIPTION AND PURPOSE
The charitable purpose of the congregation is the advancement of religion.
Glastry Con8re8ation of the Presbyterian Church is a congregation of the Presbyterian Church In
Ireland. The Presbyterian Church in Ireland, as a Refomied 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 thelr part in fulfilling God's mission to our
world.
The congregations mission purposes are to "Serve God with Gladness"
is increasingly chararterised by love for God, and love and concernfor other5,.
is committed to the historic Christian gospel os revealed in the Bible,.
is relevont to people of this time and place.

Presbyter
an
GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
YEAR ENDED 31 DECEMBER 2024
TRUSTEES, ANNUAL REPORT (contlnuedj
DESCRIPTION AND PURPOSE (contlnuedj
The congregotion aims to live out its Mission and Vision as afamily of God's people by being..
A Covenant Community.. where our relotionship5 are rooted in the promises of God by living
foithfully toward him and toword one another.
An Intergenerotional Community.. where adutts intentionolly take the leod to engage with,
encouroge ond nurture younger members to moturity in Christ.
An Outward looking Community.. where we wont the blessings of God that belong to us in the
gospel to become blessingsfor others beyond the bounds of our community.
As a congregation of the Presbyterion Church in Ireland, we believe that the Bible is the
supreme outhority over oll we do. ond that the Westminster Confession of Foith, along with
the Larger and Shorter Catechisms set out whot we understond the Bible teoches on key
matters of Christian foith and practice.
AcfiviTIES AND OBJECTIVES
The congregation meets for worship every Sunday and visitors are welcome to joln. 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 professlon of faith in the Lord Jesus Christ are admitted to the Lord's
Supper.
The congre8ation holds regular bible study meetings and has a wide range of organisations
Including..
Sunday School
Bible Class
Youth Fellowship
Boys Brigade
Presbyterlan Women
ACHIEVEMENTSAND PERFORMANCE
Worship and prayer
The congregation normally meets for worship each Sunday at 11.30am. During the week the Bible
Study provides an opportunity for members to meet for fellowship, to study the scriptures and for a
time of prayer,
As well as our regular services during the year we acknowledged God's gift of new life at the
Sacraments of Baptism, we conducted marriage services and gave thanks for falthful service5 and
sought to comfort those who had been bereaved during the year.

Presbyter
an
GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
YEAR ENDED 31 DECEMBER 2024
TRUSTEES, ANNUAL REPORT (contlnuedj
ACHIEVEMENTS AND PERFORMANCE (contlnued)
Worshlp and prayer (continuedl
At 31 December 2024 there were 89 communicant members and 119 famllies connected with the
congregation. The average weekly attendance at morning worshlp is 110.
Pastoral care
Members of the congregation who are unable to attend church due to sickness or age are vlslted on
a regular basis by the minister, elders or by one of the congregation's pastoral visltors.
Mis51on and outreach
At a local level the congregation reaches out through Boy's Brigade and Youth Club and making the
premises available for community groups. It also participates in inter-denominational servlces during
the year.
The congregation supports the United Appeal for Misslon which is a central fund of the Pre5byterlan
Church in Ireland. Thls fund enable5 congregations to support the wider mlssion of the
denomlnatlon and to do mission and outreach on a denominatiorbal basls beyond what the
congregation could do on its own. The United Appeal Furbd provides financial support for misslon
personnel at home and overseas, assists congregatlons with the deployment of locally based staff,
enables church planting, provides grant support for the upkeep of church premises, asslsts with the
runnlng costs of Union Theologlcal College, the Church's training college for ministry students, and
financially supports congregations In the areas of worship, disclpleshlp, global mission, outreach,
leadership and pastoral care.
The congregation also contribute5 to the denomlnations annual World Development Appeal, Sunday
School project and any other special appeals.
Presbytery
The congregatlon was represented at the regular meetings of Presbytery by our mlnister and / or
one of the elders. This provides an important Ilnk between the con8regations and the wider
structures of the church,
General 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
There was major expenditure during 2024. We have started a new manse building project and have
spent £98,498 during 2024. It is expected to be finished by November 2025.

Presbyter
an
GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
YEAR ENDED 31 DECEMBER 2024
TRUSTEES, ANNUAL REPORT (contlnuedj
ACHIEVEMENTS AND PERFORMANCE (contlnued)
Or8anlsatlons
Sunday School meets during the church serrfice. There are 35 members on the roll. As well as
teaching based on the Bible they attend major events orEanised by the denomination,
Blble Class meets during the church service with 10 members on the roll.
Youth Fellowship meets once a mor)th with membership broadly overlapping wlth Bible Class. The
members attend special events In the area and enjoy soclal outings with the leaders.
The Boys Brl8ade, (Anchor Boys, Junior Sectlon and Company Section) meet separately on Mondav
and Wednesday nlghts with a total of around 60 boys attending. As well as teaching from the bible,
the boys play games and attend competitions at a regional level and have outin8S throughout the
year.
Around 20 attend Presbyterian Women who meet monthly. The programme Includes Bible Study,
craft evening5 and talks from vlslting speakers.
Volunteers
The Trustees wish to acknowled8e their deep appreciatlon of those who 8lve freely of their time by
serving on commlttees and helplng with organisations and other church activities.
FINANCIAL REVIEW
At the beginning of the year, Klrcubbin Congregation of the Presbyterian Church In Ireland merged
with the charity, It transferred its funds to the charity totalling £172,506, of which £36,374 is still
owing to the charity at the balance sheet date.
The congregation's maln source of income Is members, contributions through the Weekly Freewill
Offering and interest recelved from the Glastry Presbyterian Church Trust Fund. There were 190
contrlbutors during the year (150 in the previous year, 2023) donatin8 a total of £47,889 (£48,268 in
the previous year, 20231.
Total Income of the congregation during the year was £151.958 compared to £159,603 in the
previous yeaT. Total expenditure decreased from £120,749 to £95,257.
After transfers between funds there was a surplus of £2,642 (2023.. deficit of £25,898) on restricted
funds and a surplus of £63,17212023: £70,525) on unrestricted funds in the year.

Presbyter
an
GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
YEAR ENDED 31 DECEMBER 2024
TRUSTEES, ANNUAL REPORT (continued)
FINANCIAL REVIEW (contlnued)
Reserves policy
Reserves are held in order to maintain the operation of Glastry Congregation of the Presbyterlan
Church in Ireland and to provide some surety against financial events, such as a reduction in Income
or unplanned expenditure being required.
At 310ecember 2024, the balance of the funds are restricted funds £151,S2912023: £148,887) and
unrestricted funds £445,461 (2023: £382,289). The trustees are satisfied that the level of reserves is
sufficient to continue the current artivities of the charity in the event of a signlficant shortfall in
Income levels. The trustees will continue to review the reserves policy to ensure that the policy
reflects the needs of the charity In a chan8in8 environment.
The amount of free reserrfes at 31 December 2024 Is £37,823 (2023: £81,305I, after excluding
restricted funds of £151,529 {2023., £148,887) and unrestricted fixed assets of £407,638 (2023:
£300,984).
Going Concern
The trustees have reviewed the financial position of Glastry Congregation of the Presbyterian Church
in Ireland and the budgets for the year ahead and are satisfied that there are adequate funds in
place to ensure that the congregation can contlnue its activltles for the foreseeable future and that
the financial ststements to 31 December 2024 can be signed as a going concern.
Future Developments
At present, the Trustees do not anticipate any slgnificant future developments beyond the charlt¢s
regular charitable activitie5.
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 galning of an
understanding in Christian beliefs as set out in the Bible and in the Church'5 subordlnate standards
(the Westminster Confession of Faith and the Shorter and Larger Catechlsmsl leading to spiritual and
moral development and opportunities for response to Bible teaching. In turn, this framework leads
to prattical expression5 of Christian belief5 and standards in the local community such as through
the care of those in need (including the sick, disabled and bereaved).

Presbyter
an
GLASTRY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
YEAR ENDED 31 DECEMBER 2024
TRUSTEES, ANNUAL REPORT (contlnuedj
PUBLIC BENEFIT STATEMENT {continuedJ
Generally the above benefits are delivered locally by congregations and their members, or are
facilitated through presbyteries or are organised and dellvered centrally. Local dellvery 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 purpose does not lead to harm. The only private benefit flowing from our purpose is related to
Ministers, Missionarles, Deaconesses, Irlsh Mission workers and Lay Agent5 who receive benefits as
a result of thelr 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 beneflt from our
en8agement with and support for both Christian and other secular orgarbisations, charities and
individual members of the public.
The Kirk Session has had regard to the Charity Commission's Public benefit requirement statutory
guidance.
STATEMENT OF TRUSTEE RESPONSIBILITIES
The law applicable to charitie5 in Northern Ireland requires the trustees to prepare financlal
statements for each financial year which give a true and falr view of the state of affairs of the charity
and of the incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the trustees are required to:
select suitable accounting policles and then apply them consistently;
observe the methods and principles in the Charities SORP 2019 IFRS 102):
make Judgements and estimates that are reasonable and prudent,.
state whether applicable accountlng standards have been followed, subject to any
material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basi5 unless it is inappropriate to
presume that the charity will contlnue in operatlon.

Presbyter
GLASTrY CONGREGATION OFTHE pfttsBYfERIAN CHURCH IN IRELAND
YEAR ENDED 31 DECEMBER 2024
TRUSTEES. ANNUAL REPORT (contlnuedj
STATEMENT TAUSTEE RESPONSIBILMES {contlnuedJ
The Trustees are responslble for keepln8 proper accounting record5 that dlsclom wlth reascnable
a¢curxy at •ny tlme the finaftelal posltlon of the charlty and enable thern to emure that the
fIna￿l91 ststernents comply wlth Ihe Chafltles Act INorthern Ireland) 2CI)8, the Charltles (Accounts
and Reports) Re8ulations (Northern Irelandl 2015 and the provislon5 of trust deed. They are also
responslble for safe8uardln£ the assets of the charfty and herKe for takln8 reasonab￿ steps for the
preventlon and detectlon of fraud and other Irre8ularltles.
The twstees are responslble f¢r the maintenance and Inte8rbty of the charlty and 1SnanclJl
Inforrfiatlon InCI￿led on the charivs webslte. Le8lslatlon in the U￿ted Kln8dom 8overnin8 the
preparatlon and dlssemlnatlon ol flnarKlal statements may dlffer Irom le8lsktlon In other
Jurlsdirtlons.
DIKlosurn of Irbfomi•tlon t• Ind•p•nd•rt •x•mln•r
So lir as each of the trustees In office at the date of approval of these flnanclal staterneilts Is aware..
thqre Is no rehvant Infomiatlon for the Independent •Mmlnatbn of whlth the charlty$
independent examlr*r are unaware: and
they have taken all steps that they ought to hav¢ t4k¢n as trustees tè make thernselves
aware of any relev￿t information and to establtsh that the Ch￿￿$ Independent examlner
re aware of that Inforffmtlon.
Ind•p•nd•nt wmln
GM¢G Belfast wlll contlnue In offlce as Independent examln•r for the en5uln8 year.
Approved by the Klrk 5esslon * a meetkn8 on Iq OcA&J ￿*￿gned on Its behalf by:
Davld McKee
TfU5tet
James Mcclements KJ.
Trustee
Date: 1111 bts, loir
Date: 19 Q Lbsbu L
40 Manse Road
Newtownards
BT22 IDG
10

Presbyter
an
GLASTRY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GLASTRYCONGREGATION OF THE
PRESBYTERIAN CHURCH IN IRELAND
YEAR ENDED 31 DECEMBER 2024
I report on the accounts of the charity for the year ended 31" December 2024 which are set out on pages 12 to
33.
Respectlve responslbllities of trustees and examlner
As the charitws trustees you are responsible for the preparation of the accounts In accordance with the Charitie5
Act (Northern Ireland) 2008.
It is my responsibility to:
examlne the accounts under settion 65 of the Charlties Act;
follow the procedures laid down In the general Directions given by the CharSty Commlssion for Northern
Ireland under section 6519)(b) of the Charities Act; and
state whether particular matters have come to my attention.
Basls of independent examiner's report
I have examined your charltvs accounts as required under section 65 of the Charltles Act and my examlnation
was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland
under section 6519)(b) of the Charltles Act.
My examlnation included a revlew of the accounting records kept by the charity and a comparison of the
accounts presented wlth those records. It also included consideratlon of any unusual items or disclosures in the
accounts and seeking explanations from you as charlty trustees concerning any such matters.
My role Is to state whether any materlal matter5 have come to my attentlon giving me cause to believe:
l. That accounting records were not kept in accordance wlth section 63 of the Charities Act
2. That the accounts do not accord with those accounting record5
3. That the accounts do not comply with the accounting requirements of the Charities Act
4. That there is further Information needed for a proper understanding of the accounts to be reached.
Independent examlner's statement
I have completed 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 Commlssion for Northern Ireland, I have found no matters
that require drawing to your attention.
r Nigel Moo
CA (Independent Examiner)
Chartered Accountants Ireland
For and on behalf of
GMCG Belfast
Chartered Accountants & Statutory Auditor
Alfred House
19 Alfred Street
Belfast
8T2 8EQ
Date:
31.10.z
11

GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Note Vnrestr5rted Restricted
Funds
Funds
Total
2024
Total
2023
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investment Income
105,704
6,863
112.567
119.483
6,725
370
6,725
32.666
12,908
27,212
32,296
Totsl Income
138,000
13,958
151,958
159,603
Expendlture on:
Raising funds
Charitable activitie5
668
72,962
668
94,S89
889
119,860
21,627
Total expenditure
73,630
21,627
95,257
120,749
Net income/(expenditurel before
galn on investments
11
64,370
(7,669)
56.701
38,854
Net Eain on Investments
8,156
957
9,113
5,773
Net income/(expenditurel
72,526
(6,712)
65,814
44,627
Transfers between funds
19,354)
9,354
Net movement in funds
63,172
2,642
65A14
44,627
Reconclllatlon of funds:
Total funds brought forward
Total funds carried forward
382,289
148,887
531.176
486,549
445,461
151,529
596,990
531,176
12

GLAsfRY CONGREGATION OF THE PRES8YfERIAN CHURCH IN IRELAND
BALANCE SHEEr
AS AT 31 DECEMBER 2024
2023
Axqd •ss•ts
Tan8Sble assets
Herlta8e assets
Investments
16
17
340.705
331,592
439303
331,592
Debtors
Investments
C•sh at bank and in hJnd
19
20
36J74
13,146
186.438
122,313
158M7
199,584
Cr•dltors: •mounls f•lHw due wllhln one year
21
(900)
Not curr•nt ass•ts
IS7,787
199,584
Total as*ts les5 wrrent Ilibllltl•s
596,990
571,462
tl•t asS•ts
S96,990
S31,176
(hwlty Funds
u￿strIcted Funds
ftestrlrted funds
22
22
445061
151,529
382,289
148M7
Total charfty funds
5%,990
531.176
The notes on p•y$ 14 to 33 form part of these flnancial statements.
19 ..￿.£4￿1.. £o£J-
Tho flnaYKlal stat•m•nts were 8ppro¥ed and authortsed for Issue by thè trustees on ....- -
and l8ned on thelr behalf bv:
Davld McKee
Trustee
tyyl'j
James Mcclements
Trustee
Date:
Date:
Iq s"
13

Presbyter
GLASTRY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENT5
Year ended 31 December 2024
I. ACCOUNTING POUCIES
l. Summary of s5gniflcant accountln8 policies
The principal accounting policies adopted, jud8ements and key sources of estimation uncertainty in
the preparatlon of the financial statements are as follows:
{al General Information and basls of preparatlon
Glastry Congregation of the Presbyterian Church in Ireland is a charity registered with The Charity
Commission for Northern Ireland under registration number NIC 105227. The address of the
registered office is Eiven in the charlty Information on page l of these financial statements. The
nature of the charltvs operations and principal actlvities are the advancement of religion.
Glastry Congregation of the Presbyterlan Church In Ireland constltutes a publlc benefit entity as
deflned by FRS 102.
tatement of com
liance
The flnancial statements have been prepared In accordance with applicable accounting standards,
Accounting and Reporting by Charltles: Statement of Recommended Practlce applicable to charities
preparing thelr accounts In accordance with the Flnancial Reportlng Standard applicable in the UK and
Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United
Kingdom and Republic of Ireland IFRS 1021, the Charities Act (Northern Ireland) 2008, Charities Act
(Northern Ireland) 2013, The Charities {Accounts and Report5) Regulations {Northern Ireland) 2015 and
UK Generally Accepted Accounting Practice.
In prlor years, the financial statements were prepared on a recelpts and payments basls, As part of the
transition to the accruals basis, the comparative figures for the year ended 31 Oecember 2023 have
been restated to reflect income and expenditure when they are earned or incurred, rather than when
cash is received or paid. This has resulted in the recognition of certaln items in the comparatlve year
that had previously been excluded under the receipts and payments basis.
At the beginning of the year, Kircubbin Congregation of the Presbyterlan Church In Ireland merged
with the charity. It transferred its funds to the charity totalling £172,506, of which £36,374 is still
owing to the charity at the balance sheet date.
These financial statements are prepared on a merger basis, in accordance with the Charity SORP (FRS
102), reflecting the combination of Glastry Congregation of the Presbyterian Church in Ireland and
Kircubbin Congregation of the Presbyterian Church in Ireland into Glastry Congregation of the
Presbyterian Church in Ireland. The accounts are presented as if the merged entities had alway5 been
combined. Comparative figures for the previous accounting period have been restated to reflect the
combined results of both prevlous entities with investments stated at market value. The carrying
amounts are adjusted to ensure uniformity of accounting policies across the merged entity.
14

Presbyter
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GLASTRY CONGREGATION OFTHE PRES8YTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS {contlnuedJ
Year ended 31 December 2024
I. ACCOUNTING POLICIES (contlnued)
l. Summary of sl8nlflcant accounting FK)Ilcles (contlnuedj
(a) General Informatlon and basls of preparatlon
Unrestricted funds of the combining charities have been aggregated, provided their
purposes are identical to those of the new charity. Any funds wlth restricted
purposes that are specific to the merged charity continue to be presented as
restrlcted funds.
The finarlcial statements have been prepared on the golnB concern basis under the
historical cost conventlon, as modifled to include fixed asset investments at fair
value. The financial statements are prepared on the accruals basis and are presented
In sterling which is the functional currency of the charity and rounded to the nearest
El.
The signiflcant accounting pollcies applied in the preparation of these financial
statements are set out below. These policies have been consistently applied to all
years presented unless otherwise stated.
(b) Preparation of accounts on a golng Concern basls
The financial statements have been prepared on a golng concern basis as the
trustees believe that no material uncertainties exist. The trustees have considered
the level of funds held and the expected level of income and expenditure for 12
months from authorising these financial statement5. The budgeted income and
expenditure is sufficient with the level of resources for the charlty to be able to
continue as a golng concern.
(c} Funds
Funds are classified as either restricted funds or unrestricted funds.
Restricted funds comprise lal income frorn 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.
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 restrlcted or unrestricted income funds
depending upon the purpose for which the endowmerbt was established in the first
place
15

Presbyter
GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (contlnued)
Year ended 31 December 2024
I. ACCOUNTING POLICIES (continued)
l. Summary of slgnlflcant accountlng policles (contlnued)
(d) Income
Plate Collectlons and weekly and monthly Envelopes are accounted for on a cash
receipts basis as the amount is collected.
Income from gift ald Is recognised in the year the gift aid is claimed.
Legacles and bequests are Included within income under elther unrestricted or
restricted funds accordin8 to the terms under which the donation is made. For
legacies, entitlement is the earlier of the charity being notified of an impendin8
dlstributlon or the legacy being received. At this point income is recognised. On
occasion, legacles will be notified to the charity, however, It Is not possible to
measure the amount expected to be distributed. On these occasions, the legacy is
treated as a contingent asset and disclosed.
Donations and gifts in klnd are brought Into the accounts at thelr fair value to the
hurch.
Income from trading actlvltles includes Income from letting of premlses. Income is
received in exchange for supplying goods and service5 in order to raise funds and is
recognised when entitlement has occurred.
Investment income is earned through holdlng assets for investment purposes such
as Investments held by Presbyterian Church Ireland and investments In M&G Charity
Fund. It includes dividends and interest. Where it Is not practlcable to identify
Investmerlt management costs incurred withln a scheme with reasonable accuracv
the Investment income is reported net of these costs. Interest and dividends
together with any reclaimable tax credits are included in the accounts as recelved.
(e) EMpend5ture
All expenditure Is accounted for on an accruals basis and has been classified under
headings that aggregate all costs related to the category. Expenditure Is recognised
once there is a legal or constructive obligation to make a payment to a third party, it
Is probable that settlement will be required and the amount of the obligation can be
measured reliably.
16

Presbyter
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GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (continuedj
Year ended 31 December 2024
I. ACCOUNTING POLICIES (contlnued)
l. Summary of signlflcant accounting pollcles (contlnued)
(e) Expenditure (continued)
It is categorlsed under the following headings:
Expenditure on ralsing funds are those costs incurred in seekin8 voluntary
contrlbutions;
Expenditure on charitable activitie5 Includes all cost5 Incurred by the charlty
In undertaking activitles that further its charitable alms for the benefit of its
beneficiaries, including those support costs and costs relating to the
governance of the charSty apportioned to the charitable activltles; and
Other expenditure represents those costs incurred not falling Into the
categories aljove.
Irrecoverable VAT is char8ed as a cost against the actlvlty for which the expenditure
was incurred.
(f) Support cost allocatlon
Support COSts are those that assist the work of the charity but do not directlv
represent charitable activities and include running costs, governance costs, and
administrative costs. They are incurred directly in support of expenditure on the
objects of the charity. Where support costs cannot be directly attributed to
particular headings they have been allocated to cost of raising funds and
expenditure on charitable actlvities on a basis conslstent with use of resources,
The analysis of these costs is included In note 8.
18) Tanglble flxed assets
The assets of the church comprise land and buildings and fixtures, fittlngs and
equSpment.
The land and buildlng5 comprise of Glastry Presbyerian Church, Church halls, manse
and land at 40 Manse Road, Newtownards, BT22 IDG. and Kircubbin Presbyerian
Church premises and hall situated at The Green, Kircubbin, Newtownards, BT22 2UX.
The Churches are deemed to be Heritage assets as defined by the Charities SORP
IFRS1021 and are not included in the balance sheet.
The historical cost or market values for the church halls, land, manse and associated
rixtures and fittings are not available and therefore are not Included in the balance
sheet.
17

Presbyter
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GLASTRY CONGREGATION OF THE PRES8YfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (continued)
Year ended 31 December 2024
I. ACCOUNTING POLICIES (continued)
l. Summary of slgnlficant accountlng poll¢les {contlnuedJ
(h) Depreclatlon
Assets under construction are not depreciated until complete.
(11 Herlta8e asset
The Church is deemed to be a Herltage asset as defined by the Charitles SORP {FRS102}. The
Herita8e asset Is not included In the balance sheet as information on the cost or valuation Is not
avallable.
U) Impalrment of fixed asset5
A review for Indicators of Impairment is carried out at each reporting date, wlth the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impalred accordingly.
For the purposes of impairment testing, when It Ss not possible to estimate the recoverable
amount of an Individual asset, an estimate is made of the recoverable amount of the cash-
generating unlt to which the asset belongs. The cash-generating unit is the smallest identifiable
group of assets that includes the asset and generates cash inflows that are largely independent of
the cash inflows from other assets or groups of assets.
(k) Investments
Fixed osset investment5 comprising investments held by Presbyterian Church Ireland and
investments in M&G Charity Fund are Initlally recorded at cost and are then subsequently stated
at falr value at each balance sheet date.
Unrealised gains and losses represent the difference between the fair value at the beginning and
end of the financial year or, if purchased in the year, the difference between cost and fair value at
the end of the year.
Realised gains and losses represent the difference between the proceeds on disposal and the falr
value at the start of the year or cost if purchased in the year. Both realised and unrealised gains
and losses In investments are reported within "Net Gains / (Losses) on Investments. within the
Statement of Financial Activities.
(l} Debtors and creditors recelvable/payable w5thln one year
Debtors and creditors with no stated Interest rate and receivable or payable within one year are
recorded at transaction price. Any losse5 arising from impairment are recognised in expenditure.
18

Presbyter
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GLASTRY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (contlnuedj
Year ended 31 December 2024
I. ACCOUNTING POLICIES (continued)
l. Summary of slgniflcant accountlng policles (contlnued)
(m) Cash and cash equlvalents
Cash and cash equivalents includes cash in hand, short-term deposits held with
banks and other short-term highly liquld investments with original maturities of
three month5 or less.
(n) Flnanclal Instruments
The church only has flnanclal assets and flnancial liabilities of a klnd that qualify as
basic financial instruments. Basic financial instruments are initially recognised at
transaction price and subsequently measured at thelr settlement value.
qo) Tax
The charlty Is exempt from tax and capltal gains tax to the extent that its Income and
gains are applied for charitable purposes. No tax char8e has arisen. Recovery is made
of tax deducted from receipts under gift aid. The charity is not registered for VAT
purposes, therefore expenditure is shown 8ross of VAT.
Ip) Employee benellts
The costs of short-term employee benefits are recognlsed as a Ilablllty and an
expense, unless those costs are required to be recognised as part of the cost of stock
or non-current assets,
The cost of any unused holiday entitlement is recognised in the period in which the
employee's services are received.
(q) Retlrement beneflts
Payments to defined contribution retirement benefit schemes are charged as an
expense as they fall due.
19

Presbyter
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GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (contlnued)
Year ended 31 December 2024
2. CRITICALACCOUNTING ESTIMATES ANDJUDGEMENTS
In the application of the charitvs accountinE policies, the trustees are required to make
judgements, estimates and assumptlons about the carrying amount of assets and liabilities
that are not readily apparent from other sources. The estimates and associated assumptions
are based on hlstorical experience and other factors that are considered to be relevant.
Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongolng basis. Revisions to
accounting estimates are recognised in the period in which the estlmate is revised where the
revision affects only that perlod, or in the period of the revision and future periods where
the revision affects both current and future perlods.
Key sources of estlmatlon uncertainty
Valuatlon of Investments
At each balance sheet date, fixed asset Investments are remeasured at market value based
on the valuatlon obtained from the external professional valuer. Assessing the fair value of
these fixed a55et investments therefore Involves judgement and estimation uncertainty.
Support costs
Judgements are made in relatlon to the allocation of svpport costs of the charity to its
charitable activities. Where support costs cannot be directly attributed to particular
headings the trustees consider it appropriate to allocate these costs to expenditure o
charitable actlvities on a basis consistent with use of resources.
Restrlcted funds
Judgements are made in relation to allocation of income and expenditure to restrlcted and
unrestricted funds. The trustees consider it appropriate to allocate these funds based on
interpretation of donations received.
20

Presbyter
GLASTRY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (continued)
Year ended 31 Oecember 2024
INCOME FROM DONATIONS AND LEGACIES
Unrestrltted Re$trlcted
Funds
Funds
Total Unrestricted Restricted
2024
Funds
Funds
Total
2023
Recorded glving
Loose collections
Donations and gifts
Gift Aid
Glastry Church
Trust Fund
47,406
550
1,880
3,971
483
47.889
550
8,260
3,971
45,470
992
874
5,014
2,798
48,268
992
6,425
5.014
6,380
5,551
51,897
51,897
53,784
5,000
58,784
105,704
6,863
112.567
106,134
13,349
119,483
INCOME FROM CHARITABLE ACTIVITIES
Unrestrlcted Restrlcted
Funds
Funds
Total Unrestricted Restricted
2024
Funds
Funds
Total
2023
Fundraising events
4. INCOME FROM OTHER TRADING ACTIVITIES
Unrestrlcted Restricted
Funds
Funds
Total Unrestricted Restricted
2024
Funds
Funds
Total
2023
Lettlng of premises
Graveyard Fees
and subscriptions
Education
Authority GrarbtS
2,084
2.084
1,850
1,850
4,641
4,641
4,355
5,123
9,478
1,200
380
1,580
6,725
6.725
5,555
7,353
12,908
21

Presbyter
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GLASTRY CONGREGATION OF THE PRES8YTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS {continuedJ
Year ended 31 Decernber 2024
S. INCOME FROM INVESTMENTS
Unrestrlcted Restricted
Funds
Funds
Total Unrestricted Restricted
2024
Funds
Funds
Total
2023
Interest {M&G
Investments)
General
Investrnent Fund
Other investment
income
Wayleave
Bank interest
28,953
28,953
24,891
24,891
2,394
2.394
1,886
1,886
400
400
24
925
24
1.295
370
35
35
32,296
370
32,666
27,177
35
27,212
6. EXPENDITURE ON RAISING FUNDS
Unrestrlcted Restrlcted
Funds
Funds
Total Unrestricted Restricted
2024
Funds
Funds
Total
2023
FWO envelopes
668
889
889
889
889
22

Presbyter
GLASTRY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IREIAND
NOTES TO THE FINANCIAL STATEMENTS (contlnuedj
Year ended 310ecember 2024
7. EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted Restrlcted
Funds
Funds
Total Unrestricted Restricted
2024
Funds
Funds
Total
2023
Dlrect costs:
General Assemblv
Assessments
Presbytery fees
Ministry and
support staff costs
Congregational
runnin8 expenses
Donatlons to
Missions and
charities
Support costs:
Governance cost5
7,058
962
7,058
962
7,387
915
7,387
915
22,477
22,477
24,297
24,297
41,205
12,381
53.586
31,002
41,661
72,663
9,246
9,246
635
11,353
11,988
1,260
1,260
2,610
2,610
72,962
21,627
94,589
66,846
53,014
119.860
9. ANALYSIS OF EXPENDITURE ON CHARITABLE AcfiviTIES
Unrestrlcted Re5trlcted
Funds
Funds
Total Unrestricted Restricted
2024
Funds
Funds
Total
2023
Advancement of
the Chiistlan
Religion
Activities
undertaken directly
Support costs
71,702
1,260
21,627
93,329
1,260
64,236
2,610
53,014
117,250
2,610
72,962
21,627
94,589
66,846
53,014
119,860
23

Presbyter
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GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (continuedj
Year ended 31 December 2024
10. GOVERNANCE COSTS
Unrestrlrted Restrlcted
Funds
Funds
Total Unrestricted Restricted
2024
Funds
Funds
Total
2023
Independent
examiner's
remuneration
Other
900
360
900
360
270
2,340
270
2,340
1,260
1,260
2,610
2,610
11. GAIN/(LOSS) ON INVESTMENTS
Unrestricted Restricted
Funds
Funds
Total Unrestricted Restricted
2024
Funds
Funds
Total
2023
Fairvalue gains on
Investments
9,113
9,113
5,773
5,773
12. TAXATION
Glastry Congregation of the Presbyterian Church in Ireland is recognlsed as a charity for the purposes of
applicable taxatlon legislation and is therefore not subject to taxation on its charitable activitles.
13. INDEPENDENT EXAMINER'S REMUNERATION
The independent's examlnerfs remuneration amounts to an independent examiner'5 fee of £90012023: £2701 and
other servlces of £Nil12023: £Nill.
24

Presbyter
GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (continued)
Year ended 31 December 2024
14. STAFF COSTS AND EMPLOYEE BENEFITS
2024
2023
Wage5 and salaries
Social securitv
Defined contribution pension costs
10.800
10,885
10,800
10,885
2024
2023
Allocated to:
Charitable activities
10.800
10,885
No employee received employee benefits of more than £60,000 durlng the year (2023: None).
The average number of persons employed by the charlty during the year was 312023.. 3).
2024
2023
Allocated to:
Mlni5try
Organlst
Caretaker
Total minlstry and support staff costs were £22,477 (2023: £24,297) of which wages and salaries as shown
above were £10,800 (2023.. £10,885).
Other staff costs totalled £11,677 (2023: £13,412) and were as follows:
Glastry Congregation of the Presbyterian Church in Ireland was a vacant congregation in 2024
and without a minister, however the congregation was overseen by a convenor Rev. James
Rogers of Ballygrainey Presbyterian Church, who received £9,282 (2023: £6,700) for his services;
Kircubbin ConEregation of the Presbyterian Church in Ireland's: organist £60912023: £1,248),
caretaker £1,17012023: £1,248) and convenor £Nil (2023: £3,845);
25

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GLASTRY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (continued)
Year ended 31 December 2024
14. STAFF COSTS AND EMPLOYEE BENEFITS (contlnuedj
Travel expenses of £537 (2023: £3711 were paid to the asslstant, Rev. Richard Graham who
performs pastoral duties and £79 (2023: £Nil) was paid to Rev James Rogers.
15. TRUSTEES, AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES
The charlty considers its key management personnel comprSse the trustees. The total amount of employee
benefits received by key management personnel was £3,000 (2023.. £3,OLX)) which was for a trustee for
work as a caretaker.
There were no expenses reimbursed in the year to trustees12023: £Nil).
16. TANG18LE FIXED ASSETS
Assets under
onstructSon
(new manse)
Total
Valuatlon
At l January 2024
Additlons
98,498
98,498
At 31 December 2024
98,498
98,498
Depreclation
At l Januarv 2024
CharRe for the vear
At 31 December 2024
Net book value
At 31 December 2024
98,498
98,498
At 31 December 2023
The historical cost information for the church halls and land, and manse are not available for to provide
their carrying values on a historical cost basis.
26

Presbyter
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GLASTRY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (continued)
Year ended 31 December 2024
16. TANG18LE FIXED ASSETS (contlnued)
The congregation owns the Church premises situated at Manse Road. Glastry and the associated fixtures,
fitting5, plant and machinery. These have an insurance value of £3,595,196.
The congregation also owns the Kircubbin Church premises and hall situated at The Green, Kircubbin. These
have an insurance value of £2,073,255.
17. HERITAGE ASSETS
The church buildings are deemed to be heritage asset5 as defined by the Charitles SORP 20191FRS 102).
These heritaEe assets are not included in the balance sheet as information on the cost or valuation is not
available.
18. FIXED ASSET INVESTMENTS
Presbyterian
Church in
Ireland IPCI}
Investments
M&G
Investments
Total
Valuatlon
At l January 2024
Revaluation
90,312
2.823
241,280
6,290
331,592
9,113
At 31 December 2024
93,135
247,570
340,705
Impalrment
At l January 2024
Additions
Revaluation
At 31 December 2024
Carrylng amount
At 31 December 2024
93.135
247,570
340,705
At 31 December 2023
90,312
241,280
331,592
27

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GLASTRY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (contlnued)
Year ended 31 Decernber 20Z4
18. FIXED ASSEf INVESTMENTS
Investments at fair value comprise:
2024
2023
M&G Charifund:
M&G Equltles investment Fund
for Charities
247,570
241,280
Presbyterlan Church in Ireland:
General Investment Fund
93,135
90,312
340,705
331,592
Investments held by M&G Investments are stated at fair value {market value where appllcable) at the
balance sheet date. Investments held by Presbyterian Church Ireland (PCI) are stated at fair value at the
balance Sheet date.
The Congregation is the sole beneficlary of the Glastry Presbyterian Church Trust Fund whlch is a re8lStered
th
charity. The latest available accounts of the Fund Show that the value of the Fund as at 5 April 2024 wa5
£1,725,013.
19. DEBTORS
2024
2023
Other debtOfS
Amount due from Kircubbin Congregation of the
Presbyterian Church in Ireland
36,374
20. CURRENT ASSET INVESTMENTS
2024
2023
Short term deposits
13,146
28

Presbyter
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GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (continuedj
Year ended 31 December 2024
21. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR
2024
2023
Accruals and deferred income
900
900
22. FUNDS RECONCILIATION
Fund
As at Income
l January
2024
Expendlture Gain/(10ss) Transfer
Asat31
December
2024
Unrestrfcted Funds
General Account
382,289
138,000
173,630)
8,156
19,354}
445.461
Restrlcted Funds
Property fund
Graveyard fund
Mission and charities
Boys, Brlgade
PW fund
Manse restricted fund
5,147
3,408
2,567
4,641
3,030
2,302
1,092
17,412)
{2,367)
{9,246)
(1,586)
(1,016
2,466
2,768
5.682
6,216
3,071
664
95,269
3,787
740
96.226
957
107,559
13,632
121,6271
957
8,682
109,203
Endowment Fund
41,328
326
672
42,326
Total restricted funds
148,887
13,958
(21,627)
957
9,354
151.529
Total
531,176
151,958
195,257}
9,113
596,990
29

Presbyter
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GLASTRY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (contlnuedj
Year ended 31 December 2024
22. FUNDS RECONCILIATION (continued)
Fund
Asat
l January
2023
Income Expendlture Galnllloss) Transfer
Asat31
December
2023
Unrestricted Funds
General Account
311,764
138,866
{67,735)
5,773
{6,379)
382,289
Restrirted Funds
Property fund
Graveyard fund
Mission and charities
Boys, Brlgade
PW fund
Manse restricted fund
Charities
27,097
5,767
7,797
5,123
2,672
2,088
1,206
{29,296)
(7,482)
19,502)
(3,745
(1,138)
{451)
5,147
3,408
6,830
4,728
596
95,269
3,071
664
95,269
1,851
11,851
133,457
20.737
153,0141
6,379
107,559
Endowment Fund
41,328
41,328
Totsi restrlcted funds
174.785
20,737
{53,014)
6,379
148,887
Total
486,549
159,603
1120,749)
5,773
531,176
Fund descrlptlons
a) Unrestricted income funds
The income in the General Account comprises malnly of income from Freewlll Offerlng and income
from investments and pays for assembly assessments and all the running costs of the congregatlon
Including staff costs.
b) Restrlcted funds
The Income and expenditure in the restricted funds relate to restricted donations to the property
fund, graveyard fund, mission and charities, Boys, Brigade, PW Fund, Manse Fund and Charities fund.
30

Presbyter
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GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS {contlnued)
Year ended 31 December 2024
22. FUNDS RECONCILIATION (contlnuedj
Fund descrlptlons (contlnued)
Restricted Property Fund - The income in this fund is donations to the property fund and for the use of
the property. It pays for the maintenance and repalrs to the property.
Restricted Graveyard Fund The income in this fund is subscriptions for graveyard malntenance and
interment fees for burial. It pays for the grass-¢utting and malntenance of the graveyards at Glastry and
Kircubbin.
Restricted Mission and Charities Fund- The Income in this fund is donations for the Unlted Appeal of the
Presbyterian Church for mlsslon work, the World Development Appeal and other charities such as the
Presbyterian Children's Society, Tear Fund and the Fishermen's Mission.
Restricted Boys Brigade Fund- The Income In thls fund is membership fees and fundraising actlv5ties. Use
is restricted to the runnin8 expenses of the Boys Brigade.
Restrlcted PW {Presbyterian Women) Fund - The Income In this fund 15 membership fees and fundralsln8
actlvities. Use is restricted to the runnlng expenses of the PW.
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 dependlng upon the purpose for which the endowment was established in the
flrst place.
23. TRANSFERS
Funds are transferred from unrestricted funds to restricted funds to cover shortfalls in restricted funding.
During the year, £9,354 (2023: £6,379) was transferred from the unrestricted general fund to the
restricted funds as follows: £2,466 to the Property Fund (2023: £451 transfer out), £6,21612023: £6,830)
to the Mission and Charities Fund and £672 {2023: £Nill to the Endowment Fund.
31

Presbyter
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GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (continued)
Year ended 31 December 2024
24. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestrlcted
Restrlcted
Total
Fixed assets
tanglble
investments
Net current assets
98,498
309,140
37,823
98,498
340.705
157,787
31,565
119,964
As at 31 December 2024
445,461
151,529
596,990
Unrestricted
Re5trScted
Total
Fixed assets
tangible
Investments
Net current assets
300,984
81,305
30,608
118,279
331,592
199,584
As at 31 December 2023
382,289
148,887
531,176
25. RELATED PARTY TRANSACTIONS
Ir• addition, to the related party transactions dlsclosed in note 15, the following related party transactions
occurred during the year.
At the beginnin8 of the year, Kircubbin Congregation of the Presbyterlan Church in Ireland merged wlth the
charity. It transferred its funds to the charlty totallin8 £172,506, of which £36,374 is stlll owing to the charity at
the balance sheet date.
The Presbyterian Church in Ireland, which is a separate charity, is a related party.
During the year, the congregation contributed £7,05912023: £6,075> to Funds of the General Assembly of the
Presbyterian Church in Ireland.
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Presbyter
GLASTRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (continuedj
Year ended 310ecember 2024
26. FINANCIAL COMMITMENTS
There is a financial commitment at the balance sheet date of £350,071 (2023: £Nill for the remainin8 contracted
costs to be incurred for the demolition of the existing Manse property and erection and completion of a new
Manse dwelllng, together with ancillary buildin8 services installation and site works.
27. FINANCIAL INSTRUMENTS
The carrying amounts of the charity's financial instruments are as follows:
2024
2023
Flxed asset Investments
340,705
331,592
2024
2023
Current asset investments
13,146
The 8ains and losses recognised in the Statement of Financlal Activities for the fixed asset investments are as
follows:
2024
2023
Flxed asset Investments
9,113
5,773
Total Interest income for the year included within the Statement of Financial Activitie5 was £32,666 (2023:
£27,212) and is disclosed in further detall in note 6.
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