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 De￿mber 2025 including a Balance Sheet as at that date.
REFERENCE AND ADMINISTRAMVE DETAILS
First GaTha8h cOng￿gatIon 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 suff￿lent 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 preVent￿Tr 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 prO￿dureS 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 pREsB￿ER1AN 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 se￿lOn 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
prepa￿d 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 re￿1ve 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 reSoUr￿s.
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 att￿lty
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 condit￿￿￿5 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 pREsB￿ER1AN 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.
CoMM￿mE1{[s
The Charty had capital commitments at the balan￿ sheet date amounting to £402.542
12024 £1.732,7751.
24