First Garvagh Presbyterian Church a congregation of the Presbyterian Church in Ireland Financial Statements For the year ended 31 December 2025 Registered with the Charity Commission for Northern Ireland N1105322
The Trustee5 present theirAnnual Financial Report and Financial Ststements for the year ended 31 Dember 2025 including a Balance Sheet as at that date. REFERENCE AND ADMINISTRAMVE DETAILS First GaTha8h cOnggatIon of the Presbyterian Churth in Ireland 31 Kilrea Road. Gan4agh BT51 SLR Registered charty in Northern Ireland INI 105322). CHARITY TRUSTEES The Charity Trustees vtho ser4ted during the year or who were twstee5 at the date of this report were: Rev. M. Donald Mrs. B. Glass Mrs. A. Henry Miss L. Paul Mr. M. Campbell Mr. W. Doherty Mr. A. Galbralth Mr. D. Gumey Mr. S. McKee Mr. J. Moody Mr. D. Torren5 PRINCIPAL OFFICE BEARERS Minister Clerk of Session Secretsry Treasurer Rev. M. Donald Mr. A. Galbraith MrA. Wilson Mr. W. Henry INDEPENDENT EXAMINER John Mcmullan ACMA CGMA sc High Street BALLYMONEY BT53 6AH BANKERS Ulster Bank Limited 30-32 Catherine Street LIMAVADY BT49 gD8 SOLiaTORS W.B. Thompson & Co 36 Catherine Street LIMAVADY BT49 9DB
FIRST GARVAGH PRESBYTERIAN CHURCH A CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND TRusfEES FINANCIAL REPORT For thè year ended 31 De¢ember 2025 FINANCIAL REVIEW The congregation's main source of unrestricted income is memberg contributions through the Weekly Freewill Offerin8. There were 278 contributors during the year1274 in 20241 donating total of £89,94812024-£93,908). Total income of the congregation during the year was £404.702 compared to £711,846 in the previous year. The main ason for the change was decreased donations to the Renovation Fund. Totsl expenditure decreased from £159.034 to £145,820. with a further £1,330,233 expenditure on the renovation project being capitalised. The Renovation Projert has continued during the year and is due to complete in March 2026. The Trustees are pleased that the financial position of the Charity remains robust as shown in the balance sheet. RESPONSIBIUTIES IN RESPEcf OF THE HNANCIAL sfATEMErits The Trustees are responslble for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generaltyl Accepted Accounting Practice. The Trustees are required to prepare financial statements for each financlal year whlch gwe a true and falr view of the state of affairs of the congregation and the financial activities for that year. In preparin8 the financlal statements the Trustees are required to: Select sultable accounting policies and then appty them consistently. Make judgments ond estimates that are reasonable and prudent. State whether applicable accounting stsndards have been followed, subject to any material departures disclosed and explained in the financial statements- and Prepare the financial statements on a going concern basis unless tt is inappropriate to presume that the funds will continue in operatlon. The Trustees are responsible for keeping adequate accounting records that are sufflent to show and explain the funds transartions and disclose with reasonable accuracy at any time the financial position of the congregation and ellable them to ensure that the financial 5tstements comply with the Statement of Recommended Practice"Accounting and Reporting by Charities11 January 20191". They are also responsible for safeguardin8 the assets of the congregation and hence for taking reasonable steps for the preVentTr and detertion of fraud arKI other irregularities.
FIRST GARVAGH PRESBYTERIAN CHURCH A CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND TRUSTEES FINANCIAL REPORT Convd For the year ended 31 December 2025 GOING CONCERN The activities of the congregation are dependent on ongolng contributions from its member5. 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 subjett to the continuing 5UPPOrt from members to fund on an ongoing basi5 the congregation'5 current activf(ies and other finantial commitrnents RESERVES POUCY Total resekves of the Charity amounted to £2,708,285 at the balance sheet date. This amount is held In unrestricted, restricted and endowment funds in the amounts of £178,819. £2,391,591 and £137,875 respectivety. The Trustees have considered the level of unrestricted reserves that it is appropriate to hold taking account of current and ongoing commitments. It is the policy of the Trustees to hold at least 12 month's normal expenditure from unrestricted funds. At the year*nd unrestricted bonk balances were £162.213 which represents a higher level of reserves. The Trustees, however. consider it prudent to hold reserves at this level as the fundin8 of its present actrvities is dependent on the ongoing financial support of members. RISK REVIEW A review of major risks 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 Con8regational Committee, regularly monitoring the various activities of the congre8ation at stated meetings and by encouraging mernbers in their regular giving. Approved by the Kirk Session at a meeting on 19 March 2026 and signed on its behalf by: Rev. M. Donald r. A Galbrait Date.. 19 March 2026 Date: 19 Mar 2026
INDEPENDENT EXAMINERS REPORTTO THE TRUSTEE5 OF HRsf GARVAGH PREs6YfERIAf4 CHURCH A CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND I report on the accounts of First Garvagh Presbyterian Church for the year ended 31 December 2025. which are set out on pages 6 to 24. Respealve responslbllities of charitytrustees and examlner As the charitys trustees you are spOnSible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2(K)8. It is my responsibilty to: Examine the accounts under section 65 of the Charities Art Follow the prOdureS laid down in the 8eneral Dirertions given by the Commlssion under Section 6519)Ibl of the Charities Act State whether particular matters have come to my attention. Basls of independent examinerfs report I have examined your charity accounts as required under settion 65 of the Charities Act and my exarnination wa5 carried out in accordance wtth the 8eneral Directions grven by the Charity Commission for Northem Ireland under section 6519llbl of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual item5 or dlsclosures in the accounts, and seeking explanations from you as charity tru5tee5 concerning any such matters. My role 15 to state whether any material matters have come to my attention gNlng rne cause to believe: l. That accounting record5 were not kept in accordance with section 63 of the Charities Act. 2. That the accounts do not accord with those accounting records. 3. That the accounts do not comply with the attounting requirements of the Charities Act. 4. That there is further infom)ation needed for a proper understandin8 of the accounts to be reached. Independent Examinerfs SLitement I have completed my examination and have no concerns in respect of the matters111 to141 listed above and. in connection with following the Direciions of the Charity Commission for Northern Ireland. I have found no matters that require drawing to your attention. John Mcmullan ACMA CGMA Chartered ManagementAccountsnt sc High Street. Ballymoney. BT53 6AH Date: 19 March 2026
FIRST GARVAGH PRESBYfERIAN CHURCH89 A CONGREGATION OF THE PRE5BYfERIAN CHURCH IN IRELAND srATEMENT OF FINANOAL AcfiviTY For the year ended 31 Dttember 2025 Income and Endowments from: Donation5 and legacies Charitable activities Other trading activities Investments Other 112,402 131.223 243,625 649,403 50 9.333 3.196 35.088 112,460 44.421 115,656 58.200 4,193 Total 124.931 279.771 404,702 711.846 Expenditure on: Raising funds Charitable attivities Other 897 113,845 897 144.923 847 158.187 31.078 Total 114.742 31.078 145.820 159,034 Net galn110s51 on investments io 12,413 29.074 41,487 16,2 Net Income 10,189 261.106 29.074 3CKI,369 569,102 Transfers between funds Galn on revaluation of fixed assets 15.250) 5.250 33.INX) Net m¢)vement in funds Reconciliatlon of funds: Total funds brou8ht forward 4.939 266,356 29,074 3(Xl,369 602,102 173.880 2,125.235 108.801 2,407.916 1.805,814 Total funds carrled fonvard 178,819 2.391,591 137,875 2.708.285 2,407.916
FIRST GARVAGH PRESBYTERIAN CHURCH A CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND BALANCE SHE As at 31 December 2025 Fixed assets: Tangible assets Investments 13 14 0 2.082,458 105.748 0 2,082,458 137.875 243,623 752.225 279,583 Totsl Ilxed assets 0 2.188.206 137.875 2,326.081 1,031,808 Current assets Debtors Current Investments Cash at bank and in hand 15 17.642 11,128 28.770 48.365 16 162.213 242.257 404,470 1.385.572 Total current wets 179.855 253,385 433.240 1,433.937 Liabilltles Creditors: Amounts falling due within one year 17 1.036 6.036 7,829 Net curnent assets 178.819 248.385 427.204 1,426,108 Total assets less current liabilltles 178.819 2.436.591 137.875 2.753.285 2.457.916 Creditors- Amounts falling due after more than one year Provisions for liabilities 18 45,&X) 45.0 50.(M)O Totsl net assets 178.819 2.391.591 137.875 2,708,285 2,407.916
FIRsf GARVAGH pREsBER1AN CHURCH A CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND BALANCE SHErr (CONT'D) A5 at 31 December 2025 Fund5 of the Charlty Endowments funds Restrlcted income funds Unrestricted funds 21 21 21 137,875 137,875 108,801 0 2,391,591 2,125,235 178,819 173.880 0 2.391,591 178.819 Totsl Charlty fvnd5 178,819 2.391,591 137,875 2,708,285 2,407,916 Approved by the rk selOn at a meeting on 19 March 2026 signed on tts behalf by: Rev. M. Donald Mr. Galbrait Date: 19 March 2026 19 Marc 2026
FIRsf GARVAGH PREsBYfERIAP4 CHURCH A CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND rATEMENT OF CASH FLOW5 For the year ended 31 December 2025 Note 2025 2024 Net cash flow from operatlng actl¥ilies Net Income for the period (Gains) on investments: On revaluation Realised on sale Dividends, interest and rents from investments Depreciation Renovation additlons Decreasel lincreasel in debtors (Decreasell increase in creditors 3(Kl.369 569.102 129,0401 {12.447) 144,4211 116,2901 158,2001 11.330,233) 19.595 11.793) {517,2251 {20,8271 1,762 11.097,9701 {41,6781 Net cash flow from investing activitles Dividend5. interest and rents from investments Land sale -net proceeds 44.421 77,447 .2iXJ Net cash IFOW from flnancin8 activitles (Repayments of)/receipts from interest free loans {5.INJOI 55.000 Change in cash and cash equlvalents In the reportin8 period 1981.1021 71,522 Cash and cash equivalents As at 151 January 2025 Net cash flow for the year As at 31° December 2025 1,385.572 1981.1021 404,470 1,314.050 71,522 1,385,572 16
FIRsf GARVAGH PRESBYTERIAN CHURCH A CONGREGATION OF THE PRES8YfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2025 ACCOUNTING POUCIES BASIS OF FINANCIAL StATEMENTS The financial statements have been prepared in accordance with Accounting and Reporting bv Charities: Statement of Recommended practi applicable to charities preparing their accounts in accordance wtth Financial Reporting Standard applicable in the UK and Ireland IFRS1021 (effective l January 2019). The Charity is a public benefit entity The financial statements have been prepared under the historical cost convention except for investment assets. which are shown at market value. The functional and presentational currenry is Sterling. The financlal statements include all tran5artions. assets and liabilitles 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 Endovmient fund5 are funds, the capital of which must be retsined either pernianent or at the congregation's discretion- the income derived from the endowment is to be used either as restrirted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. Restricted funds comprise (al income from endowments which is to be expended only on the restricted purposes intended by the donor and Ibl revenue donations or grants for a specific congregational actNity 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 basls. Unrestricted funds are income funds which are to be Spent on the congregation's general purposes. Designated fund5 are general fund5 set aside by the congregation for use in the future. CRITICAL ACCOUNTING JUDGEMENTS AND ESllMATION UNCERTAINTY Estimates and judgments made in the process of preparin8 the financial statements are continually evaluated and are based on historical experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical Judgments made in appfying the Charivs accounting policies. Accounting estimates or assumptions which may have a risk of causing a material adjustment to carrying amounts of asset5 and liabilities within the next financial period comprise the following: (a) Morket volue of inve5tmentproperty The Trustees review the carrying value of the Charivs investment property at each reportin8 date. The property. comprising agricultural land holdin8s, is subjett to valuation adjustments depending on current market demand. io
FIRST GARVAGH PRESBYTERIAN CHURCH A CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2025 AccouKnNG POUOES (CONfD) GOING CONCERN There are no material uncertainties aiK)Ut the charit(s obility to continue. The accounts have been prepad on a golng concern basis. INCOMING RESOURCES Recognltion of Incoming resources These are included in the Statement of Financial Activities ISOFAI when: The congregation becomes entitled to the resources- The trustee5 are virtually certain they will re1ve the resources and The monetary value can be measured with suffitient reliability. Incoming resources with rekted expenditure Where incoming resources have related expenditure las with fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. Grants and donations Grants and donations are only included Sn the SOFA when the congregation has unconditional entitlement to the reSoUrs. Tax reclaims on donations arbd gifts Incoming resources from tsx reclairn5 are included in the SOFA at the same time as the gift to whrch they relate. {v) Contrartual Income and perforniance related grants This is only induded in the SOFA once the related goods or services have been delivered. Glfts In klnd Gifts in knnd are accounted for at a reasonable estimate of theirvalue to the charrty or the amount actually realised. Gifts in kind for sale or distribution are included in the account5 as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are Included in the SOFA as incoming resources when receivèble. li
FIRsf GARVAGH PRESBYfERIAN CHURCH A CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2025 ACCOUNTING pouaES Iconvd) Donated services and facilities These are only included in incomin8 resources (with an equivalent amount in resource5 expendedl where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the SeThi or facility retsived. (¥lll} Volunteer help The value of any voluntsry help received is not included in the accounts but is descrlbed in the trusteeg annual report. {ix} Investment Income This Is included in the accounts when receivable. Inveslrnent galn5 and losses Thls includes any gain or10ss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. EXPENDITURE AND UABILMES Liability recognition Liabllltles are recognlsed as soon as there is a legal or constructive obligation committing the congregation to pay out resources. Analys15 of expenditure by attlty A separate analysis of expenditure on an actNity basis has not been presented. nor considered necessary. since all expenditure of the chartty is commttted to the overall functionin8 of the Church. Ixiii) Governan costs These are shown within charitable activities and include the costs of preparation. examination or audit of accounts. the costs of trustee meetings and cost of any le8al a(Ivice to trustees on governance or constitutional matters. (xi¥) Grants with perfonnance condltlons Where the charity 8Ne a grdnt with condit5 for its payment being a specific level of service or output to be provided. such grants are only recognised in the SOFA On the recipient of the grant has provided the specified Servi or output. Grants payable wlthout perforniance condltlons These a only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the Erant which rernain in the control of the charity. 12
FIRST GARVAGH PRESBYfERIAN CHURCH A CONGREGATION OF THE pREsBER1AN CHURal IN IRELAND NOTES TO THE ACCOUNTS 31 December 2025 AccouKllNG pouaES (¢onVd) (xvi) Tan8lble Fixed Assets The Church Building and halls are deemed to be heritage assets as defined by the Charities SORP IFRS1021. They are not included on the balance sheet as infom)ation on the cost or valuation is not available and such infomation cannot be obtained at a cost commensurate with the benefits to the users of the accounts and to the congregation. The Manse is reco8nised at cost/deemed cost, being the estimated fair value of the property. No depreciation has been provided on the Manse as the current estimated residual value is not less than its carrylng value and the remaining useful lrfe currently exceeds 50 years. Renovations to the Church and hall complex continued during the year and are due to complete in March 2026. Expenditure to date is included at C05t. Tangible fixed assets for use by the charity are CaPFtalised rfthey can be used for more than one year, and cost at least £6.5. They are valued at CO or. rfgifted. at the value to the charlty on recelpt. Depreciation is recorded on all tangible fixed assets other than freehold land and building5. at rates calculated to wrlte of the cost. less estimated residual value. of each asset over its expected useful life as follows- Fixtures, frttings and equipment - over 10 years Computers. software and technical equipment - over 4 years (xvi•) Investments and Investment property Investments quoted on a recognised stock exchange are valued at market value at the year end. Investment properties comprise agricultural land. The initial recognition was based on the market volue at the time of gift. Investment properties are measured at fair value at each reporting date with any Changes in fair value recognised in the Statement of Financial Activities. {xviii) Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 13
FIRST GARVAGH PRESBYTERIAN CHURCH A CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2025 DONATIONS AND LEGAaES ji If 12 Recorded giving: Loose offerings Donation5 and gifts GiftAid Legacies and bequest 3.174 92.055 17.173 3,174 196,090 34,361 10.000 3,325 599,071 47,007 104.035 17.188 io.c 112,402 131,223 243,625 649,403 CHARrrABLE AcllviTIES Income from charitable activities Grave fees 50 50 14
FIRST GARVAGH PRESBYfERIAN CHURCH A CONGREGATION OF THE PRESBrrERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2025 OTHER TRADING AcnvmES Lettlng of premises Trading income INVE¥fMENT INCOME Deposrt interest General investment fund Land rents Other investment income 4.099 495 970 3.769 34.422 566 38.521 1,061 1,070 3.769 52,292 1,030 467 4,411 9.333 35.088 44,421 58,200 15
FIRST GARVAGH PRESBYTERIAN CHURCH A CONGREGATION OF THE PRESBYtERIAN CHUR(11 IN IRELAND NOTES TO THE Accoupirs 31 December 2025 OTHER INCOME Insurance claims Grants Other income 112.400 60 112,4 3.256 3.676 517 3.196 3.196 112.460 115,656 4,193 RAISING FUNDS FWO envelopes 897 897 16
FIRsf GARVAGH PRESBYTERIAN CHURCH A CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2025 CHARITABLE AcnvmES General Assembly assessments Presbytery fees Ministry and support staff costs Congregatlonal running expenses Donations to missions and charities Governance costs- audit of accounts Governance costs- examinerfs fee 10.311 760 56,518 45.236 10.311 760 56,S18 62,768 13,546 10.626 67,231 59,739 17,211 2,700 17,532 13,546 1.020 1.020 113.84S 31.078 144,923 158,187 OThER EXPENDMJRE Depreciation io. NEf GAIN (LOSS) ON INVESTMENTS Fair value gain Ilossl on revaluatlon Realised gain on sale 1341 12.447 29,074 29,040 12.447 16,290 12,413 29,074 41,487 16.2 17
FIRST GARVAGH PRESBYTERIAN CHURCH A CONGREGAMON OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2025 ii. EMPLOYEES The wages and salarles co, including the minister of the congregation. durin8 the year was: 2025 2024 Wa8es and salaries Social security costs Pension contributlons 46,973 53.838 4,822 8,S71 5.085 56,518 67,231 Number of Employees The average number of employees. including the minister of the congregation. during the year was: 2024 2023 No No Average number of full-time employees There were no employees in receipt of employee benefrts in exce55 of £.(xI. 18
FIRST GARVAGH PRESBYTERIAN CHURCH A CONGREGAnoN OF THE PRESBYTERIAN CHUR(11 IN IRELAND NOTES TO THE ACCOUNTS 31 DKember 2025 12. PENSION COST5 The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme 12(KJ91. This is a scheme operated by the Presbyterian Church in Ireland. a separate registered charity. The congregation pays an assessment to the Presbyterlan Church in Ireland equivalent to the employerfs pension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme {2Crf)91 is a funded Stheme of the defined benefit type, providing defined benefits based on career average revalued salary. The Stheme has a55etS 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. A fomal 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. expense5, the cost of insurin8 death in service beneffts ond funding the scheme deficit. The contrlbutions made by the con8regation during the year were 2025 2024 Contrlbutions 5,085 8.571 The congre8ation does not have any other eligible employees requirin8 a pension scheme. 19
FIRST GARVAGH PRESBYTERIAN CHURCH A CONGREGATION OF THE PRESBYfERIAN CHURQI IN IRELAND NOTES TO THE ACCOUNTS 31 De¢ember 2025 13. TANGIBLE AXED ASSEYS Cost or valuation At start of year Additions Disposals 517.225 1.330,233 235,C 29,475 781,700 1.330,233 At end of year 1.847.458 235.(MX) 29,475 2.111,933 Depreciation At start of year Provision for year Disp05als 29.475 29.475 At end of year 29.475 29.475 Net Book Value At start of year 517.225 235,(MX) 752.225 At end of year 1.847,458 235.CMX) 2.082.458 14. INVESTMENTS C05t or valuation At start of year Fair value adjustment on revaluation Disposal at cost 43,560 11.873) 66.023 30.913 170.LI)O 279.583 29,040 165,0(Kil 165,iX(Il At end of year 41,687 96.936 105.CiMJ 243,623 20
FIRST GARVAGH PRESBYTERIAN CHURCH A CONGREGATION OF THE PRESBYfERIAN CHUR(11 IN IRELAND NOTES TO THE ACCOUNTS 31 December 2025 14. INVEStMENTS (contlnued) Unlisted Investments comprise a holding in the General Investment Fund of The Presbyterian Church in Ireland. This is a tollective investment fund. and 15 reststed to market value at the balance sheet date based on valuations provided by the investment fund managers. Listed investments comprises stocks and gilts held in the London Stock Exchange. These are restated to open market value at each reporting dète. Investment property comprises a holding of agricultural land. A portion of this was last revalued in May 2023 by the independent extemal valuers. O'connor. Kennedy Turtle and this valuation has been incorporated into these accounts. Part of the holding of a8ricultural land was sold during the year at a value in excess of its carrying valuation. In the opinion of Trustee5. the fairvalue of the remaining land has not thanged materialty since the date of last valuationlacquisition. DEBTORS 2025 2024 Gift ald Recoverable Prepayments Other Debtors 23,746 3.997 1.027 42,212 5,785 368 28.770 48,365 16. CASH AT BANK AND IN HAND 2025 2024 Ulster Bank current accounts Ulster Bank deposit accounts Cash in hand 90,911 86,599 313.475 1.298,470 503 404,470 1,385.572 21
FIRsf GARVAGH PRES8YTERIAN CHURCH A CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2025 17. CREDITORS: amounts falling due wlthin one year 2025 2024 Auditor5 fee Examiners fee Other creditors Interest free loans 2,700 1,020 16 129 6.036 7,829 18. CREDITORS: amounts falling due after more than one year 2025 2024 Inte$t free loans 45.(KX) 50.OtKJ 19. AP4ALYSIS OF NEf CASH Balance Cash flow5 at start Balance At end Cash at bank Loans falling due within one year Loans falling due after more than one year 1.385,572 {981,1021 {5.(KM)I {50.(KX)I 404.470 15.0001 45,oc(JI 1.330.572 1976.1021 354,470 zo. FINANCIAL INSTRUMEpifs 2025 2024 Finanrial a55ets Financial assets measured at fair value 138.623 109,583 22
FIRST GARVAGH PRES8YfERIAN CHURCH A CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2025 zi. FUND BALANCES AND RECONauATION OF FUNDS Balance Gains Losses Balance At end Incom Transfer UTrrestrfrted Fund5 General Fund 173,880 124,931 114.742 15.2501 178,819 Restiirted Funds Renovation Fund Session fvnd Building & Repair Fund Manse garage fund 1,150.880 229.(KJ9 3.154 119 18.336 23,950 19.931 750 1,345 2.284 2.576 599 1.222 3,039 4,943 0 11,252.7861 127.103 3,273 42,766 20,681 1,158 2,703 2,248 2,017 55 112 1.297 4.520 5,Th)0 2,471 472 1.349 Sonseekers & CY Bowlin8 Club Girls Brigade rime foryou Youth Connert United Appeal European M F Leprosy Mission Open Doors Presbyterian Childrens Society World Development UFM Royal British Legion 1341 458 1,043 947 5.346 2.181 9.290 425 250 425 15 125 45 125 801 635 830 385 635 830 360 25 Land Manse Renovations Fixtures & fittings 170,CLM) 235,CKM) 517,225 12,447 177,4471 105,O)0 235,(YJO 1.330.233 1.847,458 2.125,235 279,771 31.078 12,413 5.250 2.391,591 Endowments Legacie5 and Bequests 108.801 29,074 137.875 TOTAL 2,407.916 404.702 145,820 41.487 0 2.708.285 23
FIRST GARVAGH PRESBYfERIAN CHURCH A CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2025 22. RELATED PARTY TRANSAclloNS One of the Trustees, Rev. M t)onald. the minister of the congregation. received remuneration of £29.058 and expenses of £5.418 for acting in that capacity. Pension contribution5 of £5,085 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme120091. The remuneration for the minister is independently determined by the Presbyterian Church in Ireland. None of the other trustees recerved any remuneration during the year in connection with their dutie5. Durlng the year the congregation contributed the following amounts to Funds of the General Assernbly of the Presbyterian Church in Ireland. a separate charty. £ 10,311 for eongregational assessments £ 9,290 towards the United Appeal The congregation contrlbuted £760 tovmrds Presbytery Assessments during the year. There were no other related party transaction5 that require disclosu. 23. CoMMmE1{[s The Charty had capital commitments at the balan sheet date amounting to £402.542 12024 £1.732,7751. 24