Ballygoivan Presbyterian Church Statement of Financial Activities for the year ended 31 December 2024 2024 Total nds 2023 Total nds Unrestricted fund Restricted fund Endowment nd Notes INCOIVIE AND ENDOWMENTS FROM Donatlons and legacies 161,821 44,058 205,879 210,813 Charitable activities Donations to Missions and Charities Charitable Activities Congregational running expenses 4,600 12,673 4,600 21,952 8,250 12,731 9.279 1,200 Investment inconie Othei. income 1,899 1.899 3.108 1.418 5,328 3,108 Total 180,993 53,337 3.108 237,438 239,740 EXPEM)ITURE ON Charitable activities General Assembly Assessments Dcpreciation Ministry & Support Staff Costs Donations to Missions and Charities Charitable Activities Congregational running eApenses Governance Costs 15.797 11,514 126,330 15,797 11,514 126,330 15,912 11,569 140,411 8,000 15,444 8.000 17,893 7.500 20,638 2.449 19,937 10.782 23,194 43,131 10.782 44,575 5,729 Total 186,809 46.638 233.447 246,334 NET INCOMEI(EXPENDITURE) Transfers between funds (5,816) (6,887) 6,699 6,889 3,108 (2) 3,991 (6,594) 16 Net movement in funds (12,703) 13,588 3,106 3.991 (6,594) RECONCILIATION OF FUNDS Total funds bi"ought fonvard 581,089 34,772 67,134 682,995 689,589 TOTAL fuNDS CARRIED FORWARD 568,386 48,360 70,240 686,986 682,995 The notes form part of these financial statements
Ballygow2n Presbyterian Church Balance Sheet 31 December 2024 2024 2023 Notes FIXED ASSETS Tangible assets Investment property 10 114,423 410,973 125,937 410,973 525.396 536,910 CURRENT ASSETS Debtoi's Investments Cash at bank 12 13 13,063 70,240 93,060 11,880 67.134 83,418 176,363 162,432 CREDITORS Aniounts fallino due within one year 14 {14.773) (16,347) NET CURRENT ASSETS 161,590 146,085 TOTAL ASSETS LESS CURRENT LIABILITIES 686,986 682.995 NET ASSETS 686,986 682,995 FUNDS Unreslricled ndS Restricted funds Endowment ndS 16 568,386 48.360 70,240 581,089 34,772 67.134 TOTAL FUNDS 686,986 682,995 The financial statements were approvcd by the Board of Trustees and authorised for issue 2.0. l.?..1..2.o.*.f.... and were signed on its behalf by.. on Trustee Trustee The notes form part of these financial statements Page 10
Ballygoivan Presbyterian Church Note5 to the Financial Statements for the year ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, wliich is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reportiilcr by Charities.. Statement of Recommended Practice applicable to ¢haritleS PTepaiing their accounts in accoTdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019),, Finaiicial Reporting Staiidard 102 'The Financial Repoi'ting Standard applicable in the UK and Republic of Ireland, and the Charities Act (Northern Ireland) 2008. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities onc¢ the ¢harity has enlitl¢menl to the nds, it is probable that the iiicoine will be i'eceived and the amount can be measured reliably. Gift aid claims are recognised in the period to which they relate. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation committing the charity to that expenditure, it is probable that a trdnsfei- of economic benefits will b¢ required in settlement and the amount of the obligation can b¢ measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost i-elaled to the category. Whei-e costs caiinol be directly 2¢tributed lo particular headings they have been allocated to activities on a basis consistent with the use of resoui'ces. Tangible fixed assets All fixed assets are initially recorded at cost. The Trustees will conduct an impairment review when events or circumstances indicate that the canrying amount of fixed assets rnay not be recoverable. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Fixtures and fItCings 20/0 on cost IOO/o on cost InvestTnent property Investment property is shown at niost recent valuation. Any aggiegate swylus or deficit arisin8 from change5 in fair value is recogniscd iii the Stalenient of Financial Activities. Taxation Ballygowan Presbyterian Cliurcli is recognised as a charity for the purposes of applicabl¢ taxatioii legislation and therefore is not subject to lax on its charitable activities. The charity is not I'egistered foi. VAT and resources expended therefore include ii-recoverabl¢ input VAT Fund accounting Funds al'e classified as either restricted or unrestricted nds, defined as follows. Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor with their authority or created through the legal process, but still within the wider objects of the charity. Endowment funds are ndS which have been given on the Coiidition that the original capital sum is not reduced, bul the iiicon]e there froill is used for the purpose defined in accordance with the objects of the charity. Pension costs and other post-retirement benefits The charity operates a defined coiitribution pension scheme. Contributions payable to the charitys pension scherne are charged to the Statenient of Financial Activities in the pei'iod to which they i-elale. Page 11 conlinued.-.
Ballygoivan Presbyterian Church Notes to the Fillancial Statements - continued for the year ended 31 December 2024 ACCOUNTING POLICIES- continued Investments Fixed asset investments are stated at market value at the balance sheet date. Unrealised gains and losses represent the difference beNve¢ii the rnarket value at the beginning and end of the financial year or, if purchased in the year, the diffei-ence between cost and market value at the end pf the yeai.. Realised gains and losses i'epresent the difference betweeii proceeds on disposal and the niarket value at the start of the year or cost if purchased in the year. DONATIONS AND LEGACIES 2024 Total nds 2023 Total funds Unrestricted funds Restricfrd funds EndoNvrnent funds Freewill Offering Building Fund Stipend United Appeal Gift Sundays Harvest Appeal Donated seivices and facilities Orphan Society World Development Appeal GA on small doiialions 154,323 154.323 12,531 2.755 7,235 4,566 19,340 158.201 11,415 3.745 6,894 6,723 18,906 12,531 2,755 7,235 4,566 19.340 670 670 193 450 246 193 193 193 4,073 246 1.987 4,073 161,821 44,058 205,879 210,813 Amounts above include gift aid of £29,894(2023..£30,976). INVESTMENT INCOME 2024 Total funds 2023 Total funds Unrestricted funds Restricted fuiids Endowment funds Bequest Income 1,899 1,899 1,418 Page 12 continued...
Ballygoivan Presbyterian Church Notes to the Financi31 Statements - continued for the year ended 31 December 2024 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Donations to Missions and Charities Chai-itable Activities Chai'itable Activities Chai'itable Activities Chaiitable Activities Charitable Activities Chai-itabl¢ Activities Chai'itable Activities Cliarit2ble Activities Charitable Activities Charitable Activities Ch21-itable Activities Charitable Activities Charitable Activities Charitable Activities Chai-itable Activities Chaiitable Activities Charitable Activities Charitable Activities Congregational iunning expenses Moldova trip Indoor Bowling Club Girls Brigade Mother & Toddler Club PWA Badminton Club Wider World Magazine Hei-ald Magazine Use of Hall Sale or Rental of Books el¢. Catering Corps Other donations Youth Mission Boy's Brigade Legacy A Norrie New Elders Service A Martin collection G McBride bench Energy Scheme 4,600 600 500 200 loo 150 336 560 3.077 54 7,000 245 8,250 600 500 200 loo 200 343 504 1.440 5.000 758 250 200 2.000 555 250 5,000 497 2,195 1,188 1,200 26,552 22.181 CHARITABLE ACTIVITIES COSTS Support Costs (se¢ note 6) Direct Costs Totals Geiieral Assembly Assessments Depreciation Ministry & Suppoi't Staff Costs Donations lo Missions and Charities Charitable Activities Con"egatIOnal running expenses Governance Costs 15,797 11,514 126,3)0 8,000 17,893 43,131 15,797 11,514 126,330 8,000 17,893 43.131 10,782 10,782 222,665 10,782 233,447 Page 13 continued...
Ballygoivan Presbyterian Church Notes to the Financial Statements- continued for the year ended 31 December 2024 SUPPORT COSTS Governance costs Finaiice Totals Governance Costs 746 10,036 10,782 TRUSTEES, REMUNERATION AND BENEFITS There wei'e no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 Dec¢mber 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension Costs 108.882 6,189 11,259 123,785 5,903 10,723 126,330 140,411 The average monthly iiumber of employees during the year was as follows.. 2024 2023 Number of ministerial staff NiiD]b¢r of administrative staff No eniployees received emolurnenls in excess of £60.000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTtVlTIES Unrestricted Restricted fund fund Endowm¢nt nd Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 166.383 44.430 210,813 Charitable activities Donations to Missions and Cliarities Charitable Activities Congregational rnnning expenses 8,250 8.571 8.250 12,731 1,200 4.160 1,200 Investment income Other income 1,418 1.418 5.328 5,328 Total 184,622 49,790 5,328 239.740 Page 14 continued.
Ballygoivan Presbyterian Church Notes to the Financial Statements- continued for the year ended 31 December 2024 COMPARATIVE, S FOR THE STA TEMENT OF FINANCIAL ACTIVITtES - continued Unrestricted Restricted Endowment nd fund fund Total nds EXPENDITURE ON Charitable activities Genei-al Assenibly Assessments Depreciation Ministy & Suppoi't Staff Costs Donations to Missions and Charities Charitable Activities Con(ri-egational running expenses Govei"nance Costs 15,912 11,569 140,411 15,912 11,569 140,411 7,500 20,638 44,575 5,729 7,500 17,113 26,357 3,525 18,218 5,729 Total 195,364 50,970 246,334 NET INCOMEI(EXPENDITURE) Transfers between funds (10,742) (2.001) (1,180) 5,328 2,001 (6,594) Net movement in funds (12,743) (1,180) (6,594) RECONCILIA TION OF FUNDS Total funds bi'ought forward 593.832 35,952 59,805 689,589 TOTAL FUNDS CARRIED FORWARD 581,089 34,772 67,134 682.995 io. TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Totals COST At l January 2024 and 31 December 2024 484,280 145.194 629,474 DEPRECIATION Al l January 2024 Charge for year 363,718 9,262 139,819 2,252 503,537 11,514 At 31 Deceinber 2024 372,980 142.071 515,051 NET BOOK VALUL At 31 Decembei. 2024 111,300 3,123 114,423 At 31 December 2023 120,562 5,375 125.937 The Trustees consider that leoal title to all of the land and property comprised in the underlying deeds relating to the various lands held are ultirnately held under th¢ membei"sliip of the Education Board of the Down Presbytery as the Holding Truste¢s in relation to the title of the Church's propei'ties. The pi'operty is held at cost less accutnulated depreciation. The Trustees are of the opinion that this is an appropriate valuation. Page 15 continued...
Ballygoivan Presbyterian Chureh Notes to the Financial Statements- continued for the year ended 31 December 2024 INVESTMENT PROPERTY FAIR VALUE At l January 2024 and 31 D¢cember 2024 410,973 NET BOOK VALUE At 3 L December 2024 410.973 At 31 Deceinber 2023 410.973 Investment property i'elate5 to the church manse owned by the charity and is included at its depreciated cost as at 31 December 2021. The trustees are of the opinion that this is an appropriate carrying value as at 31 December 2024. 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Tax refiinds from HMRC Donations due Prepayments and accrued income 7,606 1,689 3.768 9,716 1,100 1.064 13.063 11,880 13. CURRENT ASSET INVESTMENTS 2024 2023 Bequest Tnvestments Bequest deposit account 68,668 1,572 65.568 1.566 70,240 67,134 The Bequest investments are held in the General Investn)ent Fund of the Pi-csbylei-ian Church iii Ireland for designated endowment fiLnd purposes and coinpri5e shares in the General Investment Fund.. The assets are included iii the financial statements at niarket value havii)g been restated in line with the Sialement of Recommended Practice. These investillenls were bequested to the Church and the capital sums cannot be used for general purposes. The income can be used for the puiyoses set out in accoi-dance with the bequest terms. Paoe 16 continued..
Ballygoiv2n Presbyteri4n Church Notes to the Financial Statements- continued for the year ended 31 December 2024 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors 14,773 16.347 Other creditoi-s include a loan from a member of the coiigregation of £1 000 which is unsecui-ed. interest fl'ee and repayable on demand. 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 To121 funds 2023 Total funds Unrestricted fund Restricted fimd Endowment fund Fixed assets Investments Current assets Current liabilities 114,423 410,973 49.263 (6,273) 114,423 410,973 176,363 (14.773) 125,937 410,973 162,432 (16,347) 56,860 (8.500) 70.240 568,386 48.360 70,240 686,986 682,995 The UeS'Z¢ted funds represent the free funds of the church which are not designated for paiticular purposes. Th¢ restricted funds have been set up to assist in identifying those ndS that are not free ndS and it is represented by bank accounts held (£49,971) less loans from rnembers of the congregation (£1,000), and United Appeal contributions payable (£7,500). 16. MOVEMENT IN FUNDS Net movement in fuiids Transfers belweeii funds Al 31112124 At 111124 Unrestricted funds General nd 581,089 (5.816) (6,887) 568,386 Restricted funds Restricted inconie funds 34,772 6,699 6,889 48.360 Endowment funds Endowment 67,134 3,108 (2) 70,240 TOTAL FUNDS 682,995 3,991 686,986 Pacre 17 continued...
Ballygoiv2n Presbyterian Church Notes to the Financial Statement5- continued for the year ended 31 December 2024 16. MOVEMENT IN FUNDS - continued Net movement in nds. included in the above are as follows- Incoming resowces Resources expended Movement in fiu)ds Unrestricted funds General fund 180,993 (186,809) (5,816) Restricted funds Restricted income funds 53,337 (46,638) 6,699 Endowment funds Endowment 3.108 3,108 TOTAL FUNDS 237,438 (233.447) Comparatives for movement in funds Net movement in fuiids Transfers between nds At 31112123 Ai l/l123 Unrestricted funds General fund 593.832 (10,742) (2.001) 581,089 Restricted funds Restricted income ndS 35,952 (1,180) 34,772 Endowment funds Endowment 59,805 5,328 2.001 TOTAL FUNDS 689,589 (6,594) 682,995 Patse 18 continued...
Ballygoivan Presbyterian Church Notes to the Financial Statements- continued for the year ended 31 December 2024 16. MOVEMENT IN FUNDS - continued Comparative net movement in nds, included in the above are as follows.. Incoming resources Resources expeiided Movement in fidS Unresti'icted funds General nd 184,622 ( 195.364) (10.742) Restricted funds Restricted income funds 49,790 (50,970) (1,180) Endowment funds Endowment 5,328 5,328 TOTAL FUM)S 239,740 (246,334) (6.594) A current year 12 months and prior year 12 month5 combined position is as follows: Net rnovement in funds Transfers between funds At 31112124 At 111123 Unrestricted fund5 General fund 593.832 (16,558) {8,888) 568,386 Restricted funds Restricted income funds 35,952 5.519 6.889 48,360 Endowment funds Endowrnent 59,805 8,436 1,999 70,240 TOTAL FUNDS 689,589 (2.603) 686,986 Patse19 continued...
Ballygoivan Presbyterian Church Notes to the Financial Statements- continued for the year ended 31 December 2024 16. MOVEMENT IN FUNDS- continued A current year 12 inonihs and prior year 12 months combined net movement in nds. included in the above are as follows.. Incoining resources Resources expended Movement in funds Unrestricted funds General fund 365,615 {382,173) (16,558) Restricted funds Restricted income ndS 103,127 (97,608) 5,519 Endowment funds Endowinent 8.436 8.436 TOTAL FUINDS 477,178 (479,781) (2,603) Transfers between ndS relate to the reclassification of certain prior year expenditure from unrestricted to restricted fvnds 17. RELATED PARTY DISCLOSURES The Trustees, report includes a description of various organisations affiliated to the church. Th¢ financial transactions and affairs of all or any of Ihesc organisations 'e outside the scope of these fInancial statements and none of the funds oi- assets held by these orgaiiisatioiis are included in these financial accounts. Page 20