Presbyter an Elmwood Pre,L,,,i-:Ildli I liuicII Elmwood Presbyterian Church a Congregation of the Presbyterian Church in Ireland Trustees. Annual Report and Financial Statements for the year ended 31 December 2024 Registered with the Charity Commlsslon for Northern Ireland NIC IOSZ64
Elmwood Presbyterian Church A Congregation of The Presbyterian Church In Ireland an TRUSTEES. ANNUAL REPORT The Trustees present their Annual Report and Financial Statements for the year ended 31 December 2024 including a Balance Sheet as at that date. Reference and administrative detalls Address: 105 Ballymacash Road L15burn Co. Antrim BT28 3ET Registered Charlty Number NIC 105264 Charlty Trustees Rev. Andrew Thompson Mr. Mark Noble Mr. David Acheson Miss. Lorraine Bell Rev. David Bruce Mr. Colln Campbell Mr. G3reth Connollv Mr. Mark Donnell Mr. David Graham Mr. Nelson Gray Mr. John Henderson Dr. Philip Hcndcrson Mr. David Jess Miss. Helen Johnston Mr. Llrran Magowan Miss. Julie Murdock Mr. Ivan Murdock Mr. Gordon McEvoy Mr. Peter McKechnie Mr. Ronnie Nesbitt Mr. David Ravev Mr. Michael Shields Mr. John Stanage Mr. Robin Walsh Prlnclpal Offlce Bearers Minister Clerk of Session Rev. Andrew Thompson Mr. Mark Noble Mi55. Helen Joliiiston Mr. Brian Magowan Treasurer Secretary Vage I
Elmwood Presbyterian Church A Congregation of The Presbyterlan Church In Ireland Presbyter an TRUSTEES, ANNUAL REPORT (contlnuedl Independent Examiner John Mccleary FCA Mccleary & Company Ltd Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP Bankers Danske Bank 45-48 High Street Portadown Craigavon BT62 ILB Sollcltors Wci M2ginp.g< X Son 68 8ow Street Lisburn BT28 IAL Page 3
Elmwood Presbyterian Church A Congregation of The Presbyterian Church in Ireland Presbyter an TRUSTEES. ANNUAL REPORT (contlnued) STRUCTURE AND MANAGEMENT The KSrk 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 ha5 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 3re p*-nffir.in mpmhprs of thÉt C.on8reeational 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 of the Moderator- the minister in actlve duty in the congregation - has no deliberative but only a casting vote. Stated meetings of the Kirk session are held up to eight times each year. 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. M9.Mbp arp plpr.tpd if they obtain two-thirdg of those who vote. Presbytery Under the Presbyterian Church in Ireland's 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. Elmwood Presbyterian Church has been assiBned to thp. Drnmnrp Prp%hylpry of the Presbyterian Church in Ire13nd. The membership of tlie PresiJytEry LuilsiLS Illiiiiily vl Ihe dclive minister5 of congregatlons asslgned io 11 by ihe General Assemblv. minsters who have retired from active duty and an elder appointed by the Kirk So_s£it)n nf each congregation. The General Assembly Th2 Gcncral Assembly is the supreme court of the Church, representing in one body the whole Church and acting 35 Its supreme legislative, administrative, and judicial authority. in dealinR with all matters brought before it. The General Assembly is normally constituted dvring the third week in June for worship and to conduct its business. At the end of buslness. It is dissolved. The membership of the General A55embly consists mainly of the active ministers of each congregation, retired minstèrs and a representative elder appointed by the Kirk Session of each congregation. DESCRIPTION AND PURPOSE Elmwood Presbyterian Church is a congrcg6tion of the Presbyteriaii CIIui"Lli iii Irelaiid. Tlie PiesbyLvridn 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 mlsslon to HIS and our world. The congregation's mission purpose is'Demonstratin8 God's presencc in our communit. Depending on ts"od's grace, we exist to bring Glory to God by reaching people for jesus building up followers of Jesu5, and sendlng them to serve Jesus. both locally and to the ends of the earth. PaEe4
Elmwood Presbyterian Church A Congregation of The Presbyterian Church in Ireland Presbyter an TRUSTEES, ANNUAL REPORT (contlnuedl In living out its mission and vision as a family of God's people, the congregation seeks to be guided by the following values- Prayerful reliance on God Helping people to connect wlth God People matter to God, and so they matter to us Active membership of the vrldWIde frdmily of God Reflecting God's heart for the world In all of this we seek to be Blbllcal, Intergeneratlonal, outward-looking and innovative, while at the same tlme mindful of our heritage and place as part of the widcr Prc5bytcrian family in Ircland. The congregation meets for worship every Sunday and visitors are welcome to join. The Sacrament of the Lords Supper is obseNed on sever31 occasions during the year and all those who have been baptised and who have made a profession of faith in the Lord Jesus Christ are admitted to the Lord's Supper. The congregation holds regular bible study meetings, mainly in small groups, and has a wide range of organisations includlng: SundaySchool-JAM- Jesus and Me Boys. Brigade Youth Fellowship- FISH Girls. Brigade Youth Club- The Wood Presbyterian Women- Women Together Seniorfs Club- Young at Heart Toddlers Table Tennis, Badminton, Pickleball Cancer Support Group Men's Fellowship Prayer Time Communlty Café- Café Reflections Communiiy Blble Study & Grlefshare groups ACHIEVEMENTS AND PERFORMANCE Worship and prayer The congregation normally meets for worship each Sunday at 11.30am and twice per month at 6.30pm. During the weekthe Bible Study and Home Group programme provides an OPF)Ortunityfor mcmbcrs to mcct for fellowship, to study the scriptures and for a time of prayer. As well as regular services, during the year there were four $3crament of Baptism as compared with none in the previous year. Thirteen new Communicant5 were welcomed and received by the congregation, nine on profession of their faith and four as transfers from other churches and congregations. On 31 December 2024. 232 individua15 were listed a5 comniunicant members with IGO taking part in Communion at least once during 2024. Pastoral care Mernhers of thp r.nngrpeatinn whn Arp. unablp. to attp_nd church due to sickness or age are visited on a regular basi5 by the tnini5ler, a55i5tant min15lei. de<iiviies5. ui by uiiv of tlie coiigi"egation's pastoral vi51tor5. They arp. Al£0 able to be involved in Sunday morning worship via the live streaming of the Service on YouTube or to be part of the worship via this channel at another time of their choosing.
Elmwood Presbyterlan Church A Congregation of The Presbyterian Church in Ireland TRUSTEES, ANNUAL REPORT {continuedl The congregation supports the United Appeal for Mission which is a central fund of the Presbyterlan Church in IrelJnd. This fund en3bloÉ con8re8ations to support the wider mission of the dcnomination and to do mission and outreath on a denominational basis beyond what the congregation could do on its own. The United Appeal Fund provides financial support for Mission Workers at home and overseas, assists congregations with the deployment of locally based staff, enable church planting, provides grant support for the upkeep of church premises, assists with the running costs of Union Theological College- the Church's training college for ministry students. and financially supports congregations 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 the minister and one of the elders. This provides an important link between the congregations and the wider structures of the church. General Assembly The minister and one of our elders were nominated to attend the meeting of the Gener31 Assembly of the Presbyterian Church In Ireland held in Assembly Buildings, Belfast, in June 2024. Property During the year we undertook the usual varied range of maintenance and repair work that is to be expected In a building the Size of Elmwood. Thls work included the repair and replacement of some radiators. the replacement of socket outlets. the repair and replacement of somp. c_ar park £priirity liehtinB. the provision of an additional external security camera and minor roof I"epdirs. SuiTie Audio-Vi5ual equipment also needed to be repalred or replaced, and important safety work was carried out on load bearing w311 brackp.t%. Thp. hiiildinc wide replacement of lights with LED lighting continued, notably in the Main Hall. In addition, the floor of the main multipurpose hall was refurbished and re-marked during the summer. Conscious of the fact that thc main sign at the entrance to the Elmwood 51te had not been 5ubst8ntially upgraded for a number ot years, it was decided to replace the current siRnaRe with a new.13rger SiRn which would be illuminated. It is planned to provide this sign by thc summer of 2025. A detailed survey and inspection of the roofing of all our buildings was undertaken resulting in the decision to commission a significant maintenance and repair scheme. The work should be completed in the early part of 2025. The re-formed Building Devclopmcnt Group worked with an architect led De3i8n Team to develop plan5 for the extension of the main building and the upgrading of the heating and electrical Se1$. Preliminary drawings are expected early in 2025. Some minor work was carrled out at the manse including repairs to the boiler flue and work to identify and repair an Internal water leak. Pastoral Car¢ The pastoral care of the congregation has been maint3inpd hy thp Minister- Rev Andrew Thompson. Deaconess- Roberta Irvine, Licensed A5515tant Minister, Graeme Read, Elders and a dedicated team of volunteers. The Kirk Session and Congregatlonal Committee maintained thelr normal pattern of meetings throughout the vear. Tlie Miiii5L¥i, Kiik 5e55ion, Congregatlonal Commlttee and all Church leaders look to the future with confidence and with the enabling power and prg_spncp. nf Ciod pndeawjr to reach. build and send many to gerve, love and follow Him. for His Glory alone. PaKE6
Elmwood PresbYtean Church A Congregation of The Presbyterian Church In Ireland Presbyter an TRUSTEES. ANNUAL REPORT Icontlnued) Organisations The regular weekly organlsatlons and artivities in the congregation could be categor15ed In the following broad areas: Youth & Children's Ministry Uniformed organisations seek to provide for the social. physical and spiritual development of children from 3-18 vears. The Girls, Brigade has an average weekly attendance of 95 across the section5. while the equivalent number in Boys. Brigade is 86. The Christian education ot children is sought through a Sunday School Eroup- JAM with an average attendance of 25 which meets prior to the morning service- during the service there is also age-appropriate teaching in KID'S Church which also had an average attendance of 25 children. The development of young people is further sought through the provision of a Youth Club- The Wood- with. during 2024, an average attendance of 42 and a Sunday evening Youth Fellowship group with an average attendance of 17 yoijng ppoplp.- Outreach The congregation seeks to build bridges into and serve the local community through a thriving Adultnoddler group• a small Parent-lnfant project Irun in conjunction with Barnardosl- a Community Cafe- a woman's CommLtnity Bible Study. a Griefshare Support Group, and annual Community activities during the summer months and Advent_ Fellowship The congregation Seeks to offer opportunltles for various groups to come together to learn and share with one Anathp.r. Thg. Wompn Together- Presbyterian Women's group meets monthlyfor a varied programme with an <ivEfdBe vf 30 WUTTIEII iri IStLe¥idaiice. A150 Ineetiiig monthly. the Men's Fellowship group brings an average of 12 men together on a Saturday morning for breakfast and an informative tslk given by a member of the congregation or other invited guests from the wider community. A senior5, group- Young at Heart- meets twlce per month providinE a varied programme for a group of around 20 senior members. Finally, up to 87 members of the congregation are involved in a Home Group programme, which sees small groups meetin8 weekly to study the Bible, pray and share encouragement and fellowship. Volunteers The Trustees wish to acknowledge their deep appreciation of those 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 public by making known the Christian Gospel of the Lord Jesus Christ. The direct benefits which flow from the purpose5 of the Church includc the soining of an underttanding 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 Catcchismsl Icading to spiritual and moral development and opportunities for response to Bible teaching. In turn. this framework leads to practical expressions of Chrlstlan bellefs and standards in the local community such as through the care of those in need (including the slck, disabled and bereaved). Commonly. thp 2hnvp hpnpfit% arp. dp.livg_red Ioc311¥ by congregations and their members or are facilitated through pre5byterie5 or are or8ani5ed arid delivered ierilrally by the Presbyterian Church in Ireland. Local delivery is facilitated by central resources in almost all cases. Public access is made known using noticeboards, printed materialj press advertisement, websites. and 50¢ial media or in other ways. The beneflis are demonstrated through regulai evaluation uf ilie sewvii¥s aiid iiiformal and ad-hoc feedback frnm mpmbp.r%, thp.ir familip.s, and members of the public. Page 7
Elmwood Presbyterian Church A Congregation of The Presbyterian Church In Ireland an TRUSTEES. ANNUAL REPORT {continuedl The purpose does not lead to harm. The only private benefit flowing from our purpose is related to Ministers. Global Mission Workers, Deaconesses, Irish Mission Workers and Lay Agents who receive benefits because of their holding an office of the church or employment. However, thls is incidental and necessary to further our charitable purpose. There are no other prtvate 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, charltles and individual members of the public. The Kirk Session has had regard to the Charity Commissions public benefit requirement statutory guidance. FINANCIAL REVIEW The congregation's main source of income 15 members. contributions through the Weekly Freewill OfferinE. There were 179 contributors during the year, compared with 173 in 2023, donating a total of £205,544 {£207,579 in prevlous year, 2023}. Most members make their freewill offerings through electronic bank transfers. Total Income of the congregation durinE the year was £295.513, an Increase of £16,914 compared to £278,599 in the previous year. Total eypgnditlArp fnr ?0?4 was E303.756 an increase of £6.846 on the total expenditure of £296,910 during 2023 RESPONSIBILITIES IN RESPEcfoF THE FINANCIALSTATEMENTS The Trustees are responsible for preparinR the Annual Report and the financial statements in accordance with applicable law and Unitcd Kingdom Generally Accepted Accounting Practice. Tlie Iru5tees are requlred to prepare flnancial siaiement5 for each financial year whlch glve a true and fair view of the situation of the congregation and the financial activities for th3t year. In preparing the financial statements the Trustees are required to= select suitable accountin£ policies and then apply thp.m r.nnsi&tently make judgements and e5timate5 tliat rvdSUlldble (Ind prudent prepare the financial statements on the going concern basis unless it Is inappropriate to presume that the Funds will continue in operation. The trustees are responsible for keeping adeouate accountine records that are sufficient to Show and p.xplain thp funds transactions and disclose with reasonable accuracy at any time the financial p051tioii vf Llie LufiBle¥dlion5 and enable them to ensure that the financial statements comply with the Statement of Recommended Practice "Accounting and Reporting by Charities11 January 20151" They are also responsible for safeguarding the a55ets of the congregation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 6OING 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 continiiing %iJpport from members to fund on an on8oing basis the congregation's current Jctivitics and uilher fiwiilnCi¢il commitments. RE5ERVE5 POLICY The trustees have considered the level of unrestricted net current 355ets that it is appropriate to hold taking account of current and ongoing commitments. It 15 the policy of the Trustee5 to hold at least three months, normal expenditure, as the tunding of its present activities is dependent on the ongoing financial support of members. At the end of the ye3r unrestricted cash balan5 were £81,81S, which is more than three month5, normal expenditure. which trustees consider prudent. Page8
Elmwood Pre5byterlan Church A Congregatlon ofThe Presbyterfan Churth In Ireland Presbyter RESPONSIBILITIES IN RESPEcf OF THE FINANCIAL STATEMENTS {contlnued) RISK REVIEW A revlew of major rlsks 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 monltoring the varlous activities of the con8regatlon at stated meetings and by encouraging members in their regular giving and considered spending. Approved by the Kirk Session at a meeting on and signed on its behalf by Rev. Andrew Thompson Mr. Mark Noble PaRe 9
Elmwood Presbyteilan Church A Congregatlon of The Pwesbyterian Churth in Ireland INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ELMWOOD PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYfERIAN CHURCH IN IREiAND I report on the account5 for the year ended 31 December 2024 set out on pages 11 to 21. Respettlve responsibillties of trustee5 and examiner The charity's trustees 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 Section 65 of the Charities Act to follow the procedures laid down in the General Dlrections given by the Charity Commlsslon (under Section 6519llbl of the Charities Actl- 3nd to state whether particular matters have come to my attention. Basls of the Independent examlner's report I have examined your charity accounts ès requlred under section 65 of the Charitles Act and my examination was carried out in accordance with the general directions given by the Charities Commission for Northern Ireland under section 6519llb} of the Charities Act. My examination Included a review of the accountlng record5 kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or di5closure5 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 8ivin8 me cause to belleve: l. That accountine records werp_ nt)t kppt in acrordance with section 63 of the Charities Act 2. That the account5 do not accord with those accounting records 3. That the account5 do not comply with the accounting requirements of the Charities Act 4. That there is further information needed for a proper understandlng of the accounts to be reached. Independent examiner's statement Since your charitys gr05s Income exceeds £250,000 your examiner must be a member of a listed body. I can confirm that l am fjijalified to undertake the ex3min3tion because l am a re8lStered member of the Institute of Chartered Accouwitdrits iri Irelr]rid which is one of the listed bodles. I have completed my examlnation and have no concerns in respect of the matters111 to141 listed above and in connection with foSlowine the Directions of the Charity Commission for Northem Ireland: I havp fnitnd nn matter4 that rcquire drawing to your attention. John Mccleary FCA Mccleary & Company Ltd Garvey Studlos 14 I nng%tone StreÈt Lisburn BT28 ITP 10 October 2025 Page 10
Elmwood Presbyterian Chuith A Congregation of The Presbyterian Church In Ireland Presbyter STATEMENT OF FINANCIAL AcfiviTY for the year ended 31 December 2024 Unre$trlrt•d Funth Re5trfcted Éndowrnent Funds Funds 2024 Income Donations and Legacie5 Charitable Activities Other trading actlvities Investment Income Other 184,945 8,331 81.063 19.251 266.008 27.582 268,679 7,884 863 1,060 195,199 863 1,060 295,513 728 1.308 278,599 100.314 Expenditure Raising Funds Charitablc Artivities other 743 268.656 27,511 296.910 228.284 24,278 252,562 51.194 279.478 24.278 303.756 51.194 Total 157,363) 4Y,120 18,243) 118.3111 Net gains/l105sesl on investments Ner Income/lExpendlturel 157,3631 49,120 18,2431 118,311) Transfer between funds 21.956 {21,9561 Net movement funds 135,4071 27,164 18.243) 118.3111 Funds brought forward 1,767.869 116.362 1,984.231 2.002.542 Funds ¢8rrled forward 1,732.462 243.526 1,975,988 1.984,231 Page li
Elmwood Presbyteiian Church A Congregatlon of The Presbyterian Chuich In Ireland BALANCE SHEET as at 31 December 2024 Unrestrlcted Funds Restrkled Endowment Funds Funds 2024 2023 Flxed assets: Tangible assets Investment5 li 1.630.000 1.630,CKJO 1,654,278 Total fixed assets 1.630.000 1.630,000 1,654.278 Current assets Debtors Cash at bank and in hand 28.686 81,815 12.371 231,155 41.057 312.970 40,406 295,684 Total current assets 110.501 243.526 354.027 336,090 Liabllltles: Creditors.. Amounts falling due withln one year 18.0391 18.0391 16,1371 Net current assets 102.462 243.526 345.988 329.953 Creditors.. Amounts fallrn6 duc over one year Total net a55ets 1,732.462 243,526 1,975.988 1.984,231 Funds of th• tharlty Unrestricted funds Restricted income funds Endowmentfunds 1.732.462 243.526 1,767,869 216,362 15 15 Total £haflty funds 1.975,988 1,984,231 roved by the Kirk Session at a meeting on 11.10.2025 an Rev. Andrew Ihomps r. Mark No Date Page 12
Elmwood Presbyterian Church A Congregation of The Presbyterian Church in Ireland Presbyter an NOTES TO THE ACCOUNTS 31 December 2024 I. 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 Republic of Ireland IFR51021 leffective l January 20151. The financial statements have been prepared under the historical cost convention. 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 mcmbcrs. FUND ACCOUNTING Endowment funds are funds, the capltal of which must be retained either permanently or at the congregation's -tricted or unrestricted income discrction,. the income derived from the endowment to be used either as re- funds depending upon the purpose for which the endowment was estsblished in the first pla. Rp%trie.tp.d fiindg r.nmprigp. (Al inr.nmp. frnm endowments which is to be expended only on the restricted purposes intended by Lhe dvnur <ind Ibl wevenue duiiiiliuw15 vr Xi¢lrils fvr speiifiL Luiigregdtlulldl È*Ltivity iiileiided 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 whlch are to be spent on the congregation's general purposes. Designated fundo arc general funds Jct aaidc by the congregation for use in the future. INCOMING RESOURCES RecoBnition of Incoming re50ur These are included in the Statement of financial Activities1SoFAI when.. the congregation becomes entitled to the resources,. the trustees are virtually certain they will receive the resources- and the monetary value can be measured with sufficient reliability. Ineomln8 resources wlth related expendlture Where irscoming resources have related expenditure las with fundraising income) the incoming resources and related expenditure are reported gr05s In the SOFA. Page 13
Elmwood Presbyterian Church A ConzreEation of The Presbyterian Churth in Ireland an NOTES TO THE ACCOUNTS 31 December 2024 I. ACCOUNTING POLICIES (Continued) Grants and donatlons Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the resources. Tax reclzlrns on donatlons and glfts Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. Iv) Contractual Income and perlormance related grants This is only included in the SOFA once the related goods or services have been delivered. Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. Investment Income Thls is included in the accounts when receivable. Investment galns and losses Tliis iiiiludes any gaill or1055 on the Sale of Investments and any galn or loss resulting from revaluing Investments to market value at the end of the ypar. EXPENDITURE AND LIABILITIES LSablllty recognltlon Liabilities are recognised as soon as there 15 a legal or constructive obliRation committinR the congregation to pav out resources. Governance costs These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustcc mcctings and cost of any legal advice to trustees on governance or constitutional matter5. Grants with performance condltlons Where the charitv Elves a grant with conditions for its payment being a specific level of Service or output to be provided, SULIi ¥fdritS ¢ll¥ only Fecogni5ed in the SOFA once the reclplent of rhe grant has provided rhe specified seNi¢e or output. Page 14
Elmwood Presbyterian Church A Congregation of The Presbyterian Church in Ireland Presbyter an NOTES TO THE ACCOUNTS 31 December 2024 I. ACCQUNTINfj POLICIE5 Icontlnuedl Grants payable wlthout performance condltlons These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. ASSETS Tangible Fixed Assets Tangible fixed assets for use by charity are capitalised if they can be used for more than one year. They are valued at cost or, if gifted, at the value to the charity on receipt. Depreciation is recorded on all tangible fixed assets. other than freehold land and the church manse which is recorded at market value, at rates calculated to write of the cost, less estimated residual value of each asset over its expected useful life as follows.. Buildings.. Motor vehicles Technic31 equipment over 50 years over 4 years over 4 years 2. DONATION5 AND LEGACIES Unrestrlcted Funds ftestrl¢ted Endowment punds Funds 2023 2024 Recorded giving Loose collections rJnn3tinn% and Eifts Gifi Aid Legacies and bequests 144,258 3,501 61,286 6,101 205,544 9,602 207,579 2.760 22,5169 35,471 24.051 12,359 36,410 184.945 81,063 266,008 268,679 Page 15
Elmwood Presbyterian Church A Congregation of The Presbyterlan Churth in Ireland an NOTE5 TO THE ACCOUNTS 31 December 2024 3_ CHARITANLE ACTIVITIÉS Unrestrlcted Funds Restrlcted Endowment Funds Funds 2024 2023 Income from charitable activities Fundraising events Momber5hip Fees Grants 5,731 8.057 434 5.510 5,250 13,788 434 S,510 7,850 653 1.431 2,600 5.800 8.331 19,251 27,582 7.884 4. OTHER TRADING ACTIVITIES Unrestrlcted Fund5 Restrl¢ted Endowment Funds Funds 2024 2023 Letting of premises Trading Income 5. INVESTMENT INCOME Unrestrfrted Funds Restricted Endowment Fund5 Funds 2024 2023 Deposit interest Investment income 863 863 728 863 863 728 6. OTHER INCOME Unrestrlcted Funds Restricted EndowmeTht Funds Funds 2024 2023 Other Income 1,060 1.308 1,060 1.060 1,308 7. RAISING FUNDS Unrestri£ted Funds Restylcted Endowment Funds Funds 2a?4 2023 FWO envelopeg Fundraising events 743 743 page 16
Elmwood Presbyterlan Church A Congregation of The Presbyterian Church In Ireland Presbyter an NOTES TO THE ACCOUNTS 31 December 1014 8. CHARITABLE ACTIVITIES Unrestricted Funds Restrlded Endowment Funds Funds 2024 2023 General Assembly Assessments Presbytery fees Ministry and support staff costs 15,670 1.198 147.551 43.798 17,683 2,394 15.670 1.198 147.551 15,260 1,123 131.544 1n?.1?4 16,844 1.760 CnngrpEAtÈnn21 riJnninE P.xpp.nsp. Donations to Mission and charities Governance costs 45.718 5,476 23,159 2.394 228,284 51,194 279,478 268.656 9. OTHER EXPENDITURE Unrestrlcted Funds Restrlcted Endowment Funds Funds 2024 2023 Depreciatlon Loan Interest 24,278 24,278 27,511 24,278 24,278 27,511 10. EMPLOYEES Employment costs 2024 2023 Wages and salaries Social security costs Pension contributions 115,850 13,976 17,725 104.860 9,803 16,881 147,551 131,544 Number of employees The average number of employees. including the minister of the congregation. durinE the year was: 2024 2D23 Average number ofemployees There were no employees in receipt of employee benefitg in extegg of £60.000_ Page 17
Elmwood Presbyterian Church A Congregation of The Presbyterian Church In Ireland an NOTES TO THE ACCOUNTS 31 DeEember 2024 10. EMPLOYEES Icontlhuedl PÈNSION COSTS The Minister of the congregation is a member of the Presbyterian Church in Ireland Pension Stheme120091. 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 employerfs pension contributlon for the Scheme and based on the stlpend pald to Ihe minisier. The Presbyterian Lhurch in Ireland Pension Scheme 120091 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. The Deaconess Is a150 3 member of this pension scheme. The contributions made by the congregation during the year were- 2024 2023 Mlnlster 10,695 7,030 10,186 6,695 Deacones5 The CDngregation operates a defined pension contribution policy for its other employees. The scheme and its asseis are held by an Independent scheme manager. I he pension charge represents the contributions due from thÉb c_nngrpgatinn diirin8 the year.. 2024 2023 Contributions 11. FIXED ASSETS Land & Buildines Fixture5 & rittines Motor vehides Equipment Total Cost or valuatlon At start of year Additions Di5P05als At end of year 1,810,000 25,044 8.000 1,843,044 1,810.000 25.044 8.000 1,843,044 Depreclatlon At start of year Provision for year Dlsposals At end ofyear 160.000 20.000 20,766 4,278 188.766 24,278 180,000 25,044 8,000 213,044 Net Book Value At start of year 1,650,00(J d.?78 1,654.278 At end ofyear 1.630,000 1,630,000 Page 111
Elmwood Presbyterian Church A CongreEation of The Presbyterian Church in Ireland Presbyter an NOTES TO THE ACCOUNTS 31 December 2024 12. DEBTORS 2024 2023 Accrued Income Prepayments Other debtors 37.696 3.361 37.199 3,207 41.057 40,406 13. CASH AT BANK AND IN HANO 2024 2023 CLJrrp.nt accounts Cash in hand 312.929 41 295,643 41 312.970 295,684 14. CREDITORS: AMOUNTS DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrafts Accruals Other creditors 8,039 6,137 Pèse 19
Elmwood Presbyterian Church A Congregation of The Presbyterlan Church in Ireland an NOTES TO THE ACCOUNTS 31 De¢ember 2024 15. FUND BALANCES Fund Balance at start Recelpts Payment Surplusl (Delicitl Transfer Balance at end Unrestrlcted Funds Unrestricted fund 1.767,869 195.199 252,562 157.3631 21,956 1.732,462 1,767.869 19S.199 252,562 {S7.3631 21,956 1.732,462 Restrlcted Funds Building & Maintenance Missionary & Outreach Sunday School IJAMI Boy's Brigade Girl's Brigade Presbyterian Women Ynijth Fpllowshlp IFISHI Youth club IWOODI Community Ministry Young Adults Holiday Bible Club Special Offering5 149.542 51,3SO 230 4,606 5.423 1.412 807 1.957 801 221 49,641 23,330 703 9.004 5.114 5,027 1,0gS 3.046 3.354 14.632 10.392 490 9.970 4,392 4,674 1,171 2,635 2.838 35,(M19 12.938 121,9561 213 1966) 722 353 1761 411 516 184.551 42,332 443 3,640 6,145 1,765 731 2.368 1,317 221 li li 216,362 100,314 51,194 49.120 121.9561 243,526 Endowment Funds Endowment Fund Investment Fund Total fund balances 1,984,231 295,513 303,756 18,2431 1,975,988 Page 20
Elmwood Presbyterian Church A Congregation of The Presbyterian Church in Ireland Presbyter an NOTES TO THE ACCOUNTS 31 De¢¢mb¢r 2014 16. RELATED PARTY TRANSACTIONS Two of the trustees received remuneration. The minister of the congregation received remuneration of £44,562 and expenses of £7.036 for acting in that capacity- Pension contributions of £10.695 were paid by the congregation In respect of the minister to the Presbyterian Church in Ireland Pension Scheme120091. The music leader received remuneration of £3,798. No pension contributions were paid in relation to this post. None of the other trustees received any remuneration or expenses durine the year in connection with their duties. Durlng the year the congregatlon contrlbuted the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity. £15.670 for congregational assessments £11,548 towards the United Appeal £1,198 for Presbytery assessments There were no other related party transactions. Page 21