STATEMENT OF FINANCIAL AcfiviTY for the year ended 31 December 2024 Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investments 136,116 212.439 4,681 11.360 348.485 4,681 11,360 725 222.182 3,610 12,198 571 725 Total 136,841 228,480 365.321 238,561 Expenditure on: Raising funds Charitable activities 968 968 931 138,571 206,448 345,019 299,737 Total 139,539 206,448 345,987 300,668 Net gains/(losses) on investments 1,380 1,380 2,431 Net Income / (expenditure) Transfers between funds Gains/(losses on revaluation of fixed assets 12,6981 23,412 20,714 159,6761 Net movement in funds Reconciliation of funds: Total funds brought forward 12,6981 23.412 20,714 159.6761 72,805 3,560.814 3633.619 3.693,295 Total funds carried forward 70,107 3,584,226 0 3654,333 3.633.619 141 Page
BALANCE SHEET As at 31 December 2024 Fixed assets: Tangible assets Investments 10 0 3,311,298 0 3,311,298 3,396,709 11 30,673 30,673 29,293 Total fixed asset5 3341,971 3341,971 3426,002 Current assets Debtors 13 19,407 31.186 50,593 30,783 Cash at bank and in hand 14 51,250 214,210 265,460 179,569 Total current assets 70,657 245.396 315,203 210,352 Liabilities: Creditors: Amounts falling due within one year 15 550 3,141 3,691 2,735 Net current assets 70,107 242,255 311,512 207.617 Total assets less current liabilities 70,107 3584,226 3653,483 3633,619 Total net assets 70.107 3584,226 3653,483 3633,619 151Page
BALANCE SHEET As at 31 December 2024 1113 Funds of the charity Restricted income funds 16 3584,250 3583,376 3,560,814 Unrestricted funds 16 70,107 70,107 72,805 Total charlty funds 70,107 3584,250 3653,483 3633.619 Approved by the Kirk Session at a meetlng on and signed on Its behalf by Scott Woodburn Dave Mcconkey Dated Dated 161 Page
NOTES TO THE ACCOUNTS 31 December 2024 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland (FRS1021 (effective l January 2015). The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the congregation is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members. FUND ACCOUNTING Endowment funds are funds, the capital of which must be retained either permanently or at the congregation's discretion. the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and Ib) revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis. Unrestricted funds are income funds which are to be spent on the congregation's general purposes. Designated funds are general funds set aside by the congregation for use in the future. 171Page
NOTESTO THE ACCOUNTS 31 December 2024 ACCOUNTING POLICIES (convd) INCOMING RESOURCES (i) Recognltion of incoming resources These are included in the Statement of Financial Activities (SOFA) 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 reliably. (li) Incoming resources with related expenditure Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. (iii) Grants and donations Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the resources. (Iv) Tax reclaims on donations and gifts Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. (v) Contractual income and performance related grants This is only included in the SOFA once the related goods or services have been delivered. (vi) Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. (vii) Investment income This is included in the accounts when receivable. (viii) Investment gain5 and1055es This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 181 Page
NOTESTO THE ACCOUNTS 31 December 2024 ACCOUNTING POLICIES (conyd) EXPENDITURE AND LIABILITIES (ix) Liabillty recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. (x) Governance costs These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. {xi) Tangible Fixed Assets Tangible fixed assets for use by charity are capitalised if they can be used for more than one year, and cost at least £5,000. 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, at rates calculated to write of the cost, less estimated residual value, of each asset over its experted useful life as follows Buildings: Fixtures, fittings and equipment Motor Vehicles Computers, software and technical equipment - over 50 years over 10 years over 4 years - over 4 years 191 Page
NOTES TO THE ACCOUNTS 31 December 2024 ACCOUNTING POLICIES (convd) DONATIONS AND LEGACIES Recorded giving: Donations and gifts Gift Aid Legacies and bequest 115,225 182,643 20,891 29,796 0 293,659 193,739 50,687 28,443 136,116 212,439 0 344,337 222,182 CHARITABLE ACTIVITIES Membership fees Fundraising events Grants 460 1,200 3,021 460 1,200 3,021 560 1,060 1,990 4,681 4,681 3,610 20IPage
NOTES TO THE ACCOUNTS 31 December 2024 OTHER TRADING AcfiviTIES 1111 _1 31 Letting of premises 11,360 11,360 12,198 11,360 11,360 12,198 INVESTMENTS General Investment Fund 725 725 571 725 725 571 RAISING FUNDS IJ li FWO envelopes 968 968 931 968 968 931 211 Page
NOTES TO THE ACCOUNTS 31 December 2024 CHARITABLE AcfiviTIES General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Governance costs 11,974 932 104,471 20,486 148,858 11,974 10,711 932 888 0 104,471 95,752 0 169,344 133,803 57,590 57,590 44,455 708 708 1,621 138,571 206,448 0 345,019 287,230 EMPLOYEES Employment Costs Wages and Salaries Social Security Costs Pension contributions 88,338 80,502 5,175 4,938 10,958 10,312 104,471 95,752 221Page
NOTES TO THE ACCOUNTS 31 December 2024 The average number of employees, including the minister of the congregation, during the year was Average number of employees There were no employees in receipt of employee benefits in excess of £60,000. PENSION COSTS The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009). This is a scheme operated by the Presbyterian Church in Ireland. a separate registered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employer's pension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme (2009) is a funded Scheme of the defined benefit type, providing defined benefits based on career average revalued salary. The Scheme has assets held in a separately administered fund managed by a board of trustees. The Presbyterian Church and the Scheme Trustee5 have agreed a funding plan to ensure the Scheme is sufficiently funded to meet current and future obligations. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 24% of pensionable salaries to cover the accrual of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit. The contributions made by the congregation during the year were Contributions 9,495 9.043 231 Page
NOTES TOTHE ACCOUNTS 31 December 2024 The congregation operates a defined pension contribution polioi for its employees. The scheme and its assets are held by an independent scheme manager. The pension charge represents the contributions due from the congregation during the year 2024 2023 Contributions 1,463 1,269 10. TANGIBLE FIXED ASSETS Cost or valuation At start of year Additions Disposals 3924242 69,329 30,000 4023571 At end of year 3924,242 69,329 30,000 4023571 Depreciation At start of year Provision for year Disposals 549395 47,467 78.485 6,926 30,000 626,862 0 85,411 At end of year 627,880 54,393 30,000 712,273 Net Book Value At start of year 3374,847 21,862 0 3396,709 At end of year 3296,362 14,936 0 3311,298 241Page
NOTESTO THE ACCOUNTS 31 December 2024 11. INVESTMENTS 2024 2023 General Investment Fund 30,673 29,293 30,673 29,293 12. INVESTMENTS (Cont'd) 2024 2023 Value at start of year Additions Disposals Impairment Gains / (Losses on revaluation) 29,293 26,862 1,380 2,431 Value at end of year 30,673 29,293 13. DEBTORS 2024 2023 Gift Aid Recoverable Prepayments 48,436 28,486 2,157 2,297 50,593 30.783 251Page
NOTES TO THE ACCOUNTS 31 December 2024 14. CASH AT BANK AND IN HAND 2024 2023 Bank current accounts 265,460 179,569 265,460 179,569 15. CREDITORS: amount falllng due within one year 2024 2023 Accruals 3,691 2,735 3,691 2,735 261Page
NOTES TO THE ACCOUNTS 31 December 2024 16. FUND BALANCE5 AND RECONCILIATION OF FUNDS Fund Balance at start Income Expend. Gains/ Losses Transfer Balance at end Unrestricted Funds General Account 72,805 136,841 139,539 70.107 72,805 136,841 139,539 70,107 Restrirted Funds General Account Property Account Graveyard Account Mission Fund Eden Group EWF GB Bowling Club Edengrove Cares General Investment Fund 18,606 6,116 3448,243 39,584 134,948 37,799 6,839 1,547 6,956 174,292 54,304 1,663 1,663 234 250 10,239 3,442 5,286 1,609 2,495 2,569 29,293 12,490 0 3352,879 43,091 126,944 200 4,124 2,179 1,262 184 10,921 5,856 1,188 30,673 1,380 3560,814 228,480 206,448 1,380 0 3584,226 271P3Ee
NOTES TO THE ACCOUNTS 31 December 2024 17. RELATED PARTY TRANSACTION One of the Trustees, the minister of the congregation received remuneration of £39,564 and expenses of £9,436 for acting in that capacity. Pension contributions of £9,495 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme {2009). Another of the trustees is employed as a youth worker by the church. The youth worker received remuneration of £32,845 for acting in the capacity. Pension contributions of £985 were paid by the congregation and he claimed £2,848 expenses in connection with his duties. None of the other trustees received any remuneration, but 3 trustees claimed expenses of £526 during the year in connection with their duties. During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity £11,974 for congregational assessments £10,704 towards the United Appeal £1,000 towards Overseas Missions The congregation contributed £932 towards Presbytery Assessments during the year. There were no other related party transactions. 281Page