SECOND LIMAVADY PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31st December 2024 Receipts Donations and legacies Charitable activities Other trading activities Investment Income Other 62125 37126 5268 5009 499 205 99251 5268 10870 1248 2002 98923 3400 11098 992 6847 5861 749 1797 Sale Of Investments Sale Of Fixed Assets Loans Received Total Receipts 70532 48107 118639 121260 Payments Raising Ilunds Charitable activities Investment Costs Other 730 77656 371 42991 1101 120647 5813 126298 Purchase Of Investments Purchase Of Fixed Assets Loan Repayments Total Payments 78386 43362 121748 132111 Net Receipts/{Paymcnts) Transfers between Funds -7854 5110 4745 -5110 -3109 -10851 Net movement of funds Reconciliation of funds Total funds brought fonvard -2744 -365 -3109 -10851 70771 50147 31107 152025 162876 Total fLmds carried forward 12 680?7 4978? 31107 148916 152025 PAGE I
SECOND LIMAVADY PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland STATEMENT OF ASSETS AND LIABILITIES for the year ended 31st December 2024 Funds Reconciliation Bank And Cash At Start Of Year 70771 50147 31107 152025 162876 Net Movement In Funds -2744 -365 -3109 -10851 Bank And Cash At End Of Year 68027 49782 31107 148916 152025 Bank And Cash Balances Bank Deposit Accounts Bank Current Accounts Cash In Hand 18,808 98,794 207 18,808 101,956 154 117.809 120,918 Other Assets Fixed Assets- Note 10 Church Premises Fixtures Fittings & Equipment Vehicles Investments - Note I I Gift Aid receivable On Donations 31.107 31,107 31107 31107 Liabilities Loans Other Approved by the Kirk Session at a meeting on behalf by and signed on its NAME NA DATE DATE PAGE 2
SECOND LIMAVADY PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31st December 2024 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS As the total income of the congregation is less than £250000 the congregation has elected in accordance with the provisions in The Charities (Accounts and Reports Regulations Northern Ireland ) 2015 to prepare its accounts on a receipts and payments basis. FUND ACCOUNTING Endowment funds are funds, the capital of which must be retained either pernianently or at the congregation's discretion; the income derived frorn the endowment is to be used cither as restricted or unrestrictcd income funds depending upon the pUoSe for which the endowmcnt was establ ished in the first place. Restricted funds comprise (a) Income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific congrcgational activity intended by the donor. Where these funds have unspent balances, intercst on their pooled investment is apportioned to the individual funds on an average balance basis. Unrestricted funds, are income funds which are to be spent on the congregation's general purposes. Designated funds are general funds set aside by the congregation for use in the future. DONATIONS AND LEGACIES Recorded Giving . Loose Collections Donations And Gifts Gift Aid Legacies And Bequests 49036 1333 110 11146 500 15083 9421 10476 2146 64119 10754 10586 13292 500 66498 12101 7599 12725 62125 37126 99251 98923 PAGE 3
SECOND LIMAVADY PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31st December 2024 CHARITABLE ACTIVITIES Income from Charitable Activities Fees from Weddings and Funerals Grants 5268 5268 3400 5268 5268 3400 OTHER TRADING ACTIVITIES Fundraising Events Letting Of Premises Trading Income 508 5353 5009 5517 5353 5018 6080 5861 5009 10870 1098 IIYVESTMENT INCOME Deposit Interest General Investm¢nt Fund Property Rents Other Investment Income 220 27 247 238 529 472 1001 754 749 499 1248 992 PAGE 4
SECOND LIMAVADY PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31st December 2024 OTHER INCOME Proceeds on sale of fixed assets and investments Insurance Claims Myroe Presbyterian Church Other Income 1417 380 205 1622 380 5857 990 1797 205 2002 6847 RAISING FUNDS FWO F.nvelopes Fundraising Events 730 291 80 1021 80 980 4833 730 371 1101 5813 CHARITABLE ACTIVITIES General Assembly Assessmcnts Presbytery Fees Ministy and Support Staff Costs Utilities Insurances Congregational Running Expenses Repair & Maintenance Organisations Running Expenses Donations to Missions and Charities Governance Costs 13314 404 46253 8679 3882 5024 13314 404 46253 8679 3882 5472 10759 14581 12774 408 44069 8048 3577 4867 25131 9365 448 10759 14581 100 13477 3726 13577 3726 14075 3984 77656 42991 120647 126298 PAGE 5
SECOND LIMAVADY PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31st December 2024 OTHER EXPENDITURE Investment Properties Expenses 10. FIXED ASSETS The congregation owns the Church premises situated at 58 Irish Green Street Limavady and the associated fixtures, fittings, plant and machinery. These have an insurance value of £5323269 at the last renewal date 31 st October 2024. 11. INVESTMENTS The congregation has the following investments. Amounts are shown at market valuation. 2024 2023 General Investment Fund Property Other Investments 31.107 31,107 31107 31107 PAGE 6
SECOND LIMAVADY PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31st December 2024 10. FUND BALANCES (i) Unrestricted Funds ?0?4 ?023 General Fund General Fund (Bequest) 39521 ?8506 42765 ?8006 68027 70771 (11) Restricted Funds 2024 20?3 Property Fund Property Fund (Bequest) Missions And Charities Fund Sunday School Catering Fund McKay Trust Flower Fund Open Door Cafe & Fellowship Lunch Music Group Presbyterian Women Boys Brigade Girls Brigade Parent & Toddler Choir Bowling Club Bits & Bobs Craft Group Ladies Afternoon Bowls 27184 13220 29573 13?20 501 495 120 54 72 572 ?710 2281 914 88 1596 470 120 58 72 393 1142 2275 828 88 1384 499 49782 50147 (111) Endowment Funds 2024 ?023 General Fund Property Fund Sunday School McKay Trust Endowments for Others 11330 1?888 3385 1043 ?461 11330 12888 3385 1043 2461 31107 31107 PAGE 7
SECOND LIMAVADY PRESBYTERIAN CHURCH A CongregatRon of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31st December 2024 10. FUND BALANCES (Iv) Reconciliation OF MOVEMENT OF FUNDS Unrestricted Funds Balance at Start Income Expend. Gains/ Transfer Balance Losses at End General Fund Gcneral Fund (Bequest) 42765 28006 70032 500 78386 5110 39521 28506 70771 70532 78386 5110 68027 Restricted Funds Property Fund Property Fund (Bcquest) Missions And ChdritiLs Fund Sunday School Catering Fund McKay Trust Flower Fund Open Door Café & Fellowship Music Group Presbyterian Women Boys Brigade Girls Brigade Parent & Toddler Choir Bowling Club Bits & Bobs Craft Group Ladies Afternoon Bowls 29573 13220 7661 11050 1000 27184 13220 9712 176 1650 23 9712 181 267 495 -1377 -23 501 120 58 72 393 1142 2275 828 88 1384 499 120 54 72 572 2710 2281 914 88 1596 470 9375 6164 -3215 2547 7183 7552 913 2168 5315 7346 827 -200 -300 -200 1158 157 246 86 -700 -100 50147 48107 43362 -5110 49782 Endowment Funds Gencral Fund Property Fund Sunday School McKay Trust Endowments for Others 11330 12888 3385 1043 2461 11330 12888 3385 1043 2461 31107 31107 TOTAL 152025 118639 121748 148916 PAGE 8
SECOND LIMAVADY PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland Fund Balances 2024 2023 Cash in Hand 207 154 Progressive Building Society 1 Year Fixed Bond 13,030 13,030 Progressive Building Society 2 Year Fixed Bond 30,107 30,107 Virgin Money Deposit Account 6,778 6,778 Deposits 49,915 49,915 Danske Bank Current Account 90,244 95,370 Presbyterian Women Bank Account 515 393 Boys Brigade Bank Account 2,710 1,142 Girls Brigade Bank Account 2,281 2,275 Parent & Toddler Group Bank Account 914 829 Bowling Club Bank Account 1,596 1,384 Bits & Bobs Craft Group Bank Account 470 499 Choir Account 64 Current Accounts 98,794 101,956 Total 148,916 152,025