BANAGHER CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payment Account) for the year ended 31 December 2024 Unrestrlrted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 Note Re￿iptS Donatlons and legacies Charltable actlvities Investment Income 69,047 480 7,923 45,918 5,760 11,921 114,965 6,240 19,844 339,407 14,945 12,230 77,450 63,599 141,049 366,582 Sale of Investments Sale of flxed assets Loans Recelved Total Recelpts 77,450 63,599 141,049 366,582 Payments Ralsing funds Charltable activltles 290 46,742 47,032 290 107,310 107,600 238 96,825 97,063 60,568 60,568 Purchase of Investments Purchase of flxed assets Loan Repayments 6,990 Total Payments 47,032 60,568 107,600 104,053 Net recelpts / {paymentsl Transfers between funds 30,418 -2,205 3,031 2,205 33,449 262,529 Net movement In funds Funds brought forward 28,213 286,353 5,236 173,307 33,449 459,660 262,529 197,131 Funds carried forward 314,566 178.543 493.109 459,660 BANAGHER CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES AS AT 31 December 2024 7. FIXED ASSErs The congregation owns the Church premises and Century Hall, Youth centre and a potracabin and small store at 8 Ballyhanedin Road, Feeny BT47 4EP and a manse, purchased in October 2016, sltuated at 14 Kilcul Rd Claudy BT47 4BY. The Insurance Broker's valuation for all buildings for 2023 and 2024 are set out below. The congregatlon also owns 39.5 acres of agricultural land at Ballyhanedin Road. FIXED ASSETS Values from insurance schedule Broker Al Gallagher Church Buildings and contents Store Bulldlng and contents Church Hall and contents Youth Centre and contents Portacabln and Contents Manse and bulldlngs Agrlcultural land as valued by the trustees 2024 2023 1,499,518 28,904 451,663 90,330 8,765 716,992 250,000 1,428,113 27,528 430,155 86,028 8,348 682,849 250,000 8. INVESTMENTS All Investments at 31st December 2024 and 2023 were held by the General Investment Fund of the Presbyterlan Church In Ireland. General Investment Fund 375,918 358,947 Unrestrlcted Restrlcted Endowment Funds Funds Funds Total 2024 Total 2023 Funds Re¢onclllatlon Note Bank & cash at start of year Net movement In funds Bank & cash at end of year 286,353 28,213 314,566 173,307 5,236 178,543 459,660 33,449 493,109 197,131 262,529 459,660 Bank and Cash Balances Bank Current Accounts 493,109 459,660 Other Assets Flxed Assets Investments Glft Ald receivable on donatlons 2024 Gift Aid receivable on donatlons 2023 13466 14641 14,641 Total 13,466 Llabilltles Loans Approved by the Kirk Session at a meetlng on 29 January 2025 and signed on its behalf by Derek Hood Trustee Ivan J Montgomery Clerk of Kirk Session BANAGHER CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2024 I. ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS A5 the total income of the congregation is less than £250,000 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 permanently or at the congregation's discretion. the income derived from the endowment is to be used either as restricted or unrestrlcted income funds depending upon the purpose for which the endowment was established in the first place. Restrlcted funds comprise (a) income from endowments whlch is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a speclfic 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. 2. DONATIONS AND LEGACIES Unrestricted Restrlrted Endowment Total Total Funds Funds Funds 2024 2023 Recorded giving Loose collections Donations & gifts Gift Aid Other Legacies & bequests 53,957 792 3,000 10,700 598 22,806 3,732 671 5,133 3,576 10,000 76,763 4,524 3,671 15,833 4,174 10,000 114,965 85,584 1,404 24,298 15,582 2,539 210,000 339 407 69,047 BANAGHER CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (continued) 31 December 2024 Unrestricted Restrlcted Endowment Funds Funds Funds Total 2024 Total 2023 3. CHARITABLE ACTIVITIES Income from charitable activities Weddings & funerals Fundraising events Memberships Grants 220 260 660 632 880 892 6,715 4,468 5,760 4,468 8,230 14,945 480 4. INVESTMENT INCOME Bank interest Investment interest Farm & manse lettings 1,137 8,888 9,819 677 7,003 4,550 758 2,615 4,550 7,923 379 6,273 5,269 11,921 S. RAISING FUNDS FWO envelopes 238 290 290 6. CHARITABLE ACTIVITIES General Assembly Assessments Presbytery fees Ministry & support staff Congregational running expenses Donations to Missions etc Governance costs 6,401 440 7,111 31,790 400 600 46,742 6,401 440 7,111 79,996 12,763 600 107,311 9,546 400 24,422 49,306 12,551 600 96,825 48,206 12,363 60,569 7. FIXED ASSETS The congregatlon owns the Church premlses and Century Hall, Youth Centre, a portacabln and small store at 8 Ballyhanedin Road, Feeny BT 47 4EP. 8. INVESTMENTS All investment5 at 31st December 2024 were held by the General Investment Fund of the Presbyterian Church in Ireland. BANAGHER CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {contlnued) 31 December 2024 9. FUND BALANCES Fund Balance at start Recelpts Payments Transfers Balance at end Unrestrlcted Funds General Fund 286,353 85,773 55,355 314 S66 Restricted Funds Mlsslons and Charltles Property Fund Sunday School Presbyterian Women Presbyterian Children's Society Girls Brigade Boys Brigade Mi55ion Committee Youth Council 136,993 2,754 3,613 35,599 1,421 3,746 30,215 976 3,664 205 7,390 7,630 2,136 30 142,377 3,199 3,695 205 I,cH)o 1,000 2,830 3,396 2,408 21,313 173 307 5,931 6,208 2,351 21 55,277 2,371 2,974 2,623 21,304 178,543 Endowment Funds Totsl 459 660 141050 107 601 493 109