Presbyter an BALLYL RE BYfERIAN H IN IRELAND srATEMENT OF FINANCIAL ACTIvIrY FOR YEAR ENDED 31 DECEMBER 2024 UNRESTRICTED RESTRIcfED FUNDS FUNDS TOTAL 2024 TOTAL 2023 Income and endowments from Donats'ons and legacies Charitable activities 214,916 3,032 180,786 21,426 395,702 24,458 440,126 31,373 Total 217,948 202,212 420,160 471,499 Expenditure on: Raising funds Charitable activlties 888 161,994 888 271,246 109,252 256,716 Total 162,882 109,252 272,134 256,716 Net income/{expenditure) Transfers beeen funds Net movement in funds 55,066 (727,575) (672,509) 92,960 727,575 820,535 148,026 214,783 148,026 214,783 Reconciliation of funds., Totsl funds brought forward 835,406 170,612 1,006,018 791,235 Total funds carried forward 162,897 991,147 1,154,044 1,006,018
an BALLYL GHAN NGRE ATI N OF THE PRE BERlAN CH H IN IRELA BALANCE SHEET AS AT 31 DECEMBER 2024 NOTES UNREsfRIcfED FUNDS REsfRIcfED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 FIXED ASSETS Tangible assets Total fixed assets 1,166,043 1,166,043 1,166,043 1,166,043 1,124,977 1,124,977 CURRENT ASSETS Debtors Cash at bank and in hand Total current assets 35,316 132,479 167,795 26,460 49,046 75,506 61,776 181,525 243,301 74,062 206,299 280,361 io LIABILMES Creditors.. amounts falling due within one year Creditors.. more than one year Total Liabilities 11(i) 11(ii) 4,898 40,195 210,207 250,402 45,093 210,207 255,300 33,946 365,374 399,320 4,898 Net current assets 162,897 (174,896) (11,999) (118,959) Total net assets 162,897 991,147 1,154,044 1,006,018 FUNDS OF THE CHARITY Unrestrirted funds Restricted funds 12 12 162,897 162,897 991,147 835,406 170,612 991,147 Total charity funds 162,897 991,147 1,154,044 1,006,018 Approved by the Kirk Session at a meeting on 24th March 2025 and signed on its behalf by Mr Stsnley Warwick (Clerk of Session) in Orr (Treasurer) Dated .' 24th march 2025 Dated . 24th March 2025 io
Presbyter an BALL LOUG AN REGATION OF THE PR sBERIAN CHURCH IN ELAND 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:Statements of Recommended practi applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland (FRS102) (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 bodyi nor those that are informal gatherings of church members. Fund accounting Restricted funds comprise revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balan, interest on their pooled investment is apportioned to the individual funds on an average ba515. 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. Income resources Reco nition of incomin These are included in the Statement of Flnancial Attivities (SOFA) when: the congregation becomes entitled to the resources; the trustees are virtually certain they will receive the resourtrs. and the monetary value can be measured with sufficient reliably. (i) ource (li) Incomin resources with related ex enditure 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) onations and Incoming resour5 from tsx reclaims are included in the SOFA at the same time as the gift to which they relate. 11
Presbyter an BALLYLOUGHAN CONGRE ATION OF THE BERIAN C RCH IN IRE ND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 ACCOUNTING POLICIES- CONT'D (v) Con ual income and rMan related This is only included in the SOFA once the related goods or services have been delivered. (vi) Volunte The value of any voluntsry help reiVed is not included in the accounts but is described in the trustees, annual report. Expenditure and liabilties (vii) Liabili rec ion Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. (viii) Governan 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 governanTr or constitutional matters. (ix) Grants with erfornian onditions Where the charity gives a grant with conditions for its payment being a specific level of seryice or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. (x) Grants able wi h ut erfOrMan condi These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. (xi) Tan ible fi ets Tangible fixed assets for use by charity are capitalised if they can be used for more than one year, and cost at least £500. 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 off the c05t, less estimated residual value, of each asset over its expected useful life as follows: Buildings Fixtures, fittings and equipment Computers, sofmare and technical equipment 12 over 50 years over 10 years over 4 years
Presbyter an BALLYLOUGHAN REGATION OF E pREsBERIAN HURCH IN IR ND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 INCOME FROM DONATIONS AND LEGACIES UNRESTRICTED FUNDS RESTRIcfED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Recorded giving Loose collections Donations and gifts Gift aid 175,300 6,545 1,224 31,847 214,916 123,021 298,321 6,545 32,529 58,307 395,702 312,058 11,228 46,213 70,627 440,126 31,305 26,460 180,786 INCOME FROM CHARITABLE ACTIVITIES UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Organisation income Sale of study books etc Income from church events Miscellaneous income Grants 21,426 21,426 231 2,801 20,988 850 9,493 42 231 2,801 3,032 21,426 24,458 31,373 EXPENDITURE ON RAISING FUNDS UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 FWO envelopes 888 888 888 888 13
Presbyter an BALL HAN CONGRE ATION OF THE PRESBYfERIAN CHU IN IRE NOTES TO THE ACCOUNTS 31 DECEMBER 2024 EXPENDITURE ON CHARITABLE ACTIVITIES UNRESTRICTED REsfRICTED FUNDS FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 General assembly assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Governance costs Depreciation charge and loss on disposal of assets 15,214 659 15,214 659 13,650 573 100,912 100,912 108,858 43,169 49,836 93,005 80,956 31,195 31,195 2,040 39,436 1,950 2,040 28,221 109,252 28,221 271,246 11,293 256,716 161,994 EMPLOYEES lo ment cost TOTAL FUNDS 2024 TOTAL FUNDS 2023 Wages and salaries Social security costs Pension contributions 84,529 5,188 9,651 99,368 92,657 4,950 9,467 107,074 Num fem lo ees The average number of employees, including the minister of the congregation, during the year was: 2024 2023 Average number of employees There were no employees in receipt of employee benefits in excess of £60,000. 14
Presbyter an BALLYLOUGHAN CONG ATION OF THE PRESBYfERIA HURCH IN I ELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 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 minster. 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 15 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 240/0 of pensionable salaries to cover the accrual of benefits for future servi, expense5, the cost of insuring death in service benefits and funding the scheme deficit. The contributions made by the congregation during the year were: TOTAL FUNDS 2024 TOTAL FUNDS 2023 Contributions 9,517 9,064 The congregation contributes to a defined contribution pension scheme for one of its employees. The pension charge represents the contributions due from the congregation during that year. TOTAL FUNDS TOTAL FUNDS Contributions 134 403 15
Presbyter an BALLYLOUGH NGREGATIO F THE PRESB RIAN CHURC IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 TANGIBLE FIXED ASSETS BUILDINGS FIXTURES FIThINGS & EQUIPMENT COMPUTERS &TECHINCAL EQUIPMENT TOTAL COST OR VALUATION At start of year Additions Disposals 1,170,167 66,104 23,267 2,166 18,158 1,017 (4,535) 1,211,592 69,287 (4,535) At end of year 1,236,271 25,433 14,640 1,276,344 DEPRECIATION At start of year Provision for year Disp05als 56,111 24,661 14,131 2,328 16,373 1,232 (4,535) 86,615 28,221 (4,535) At end of year 80,772 16,459 13,070 110,301 NET BOOK VALUE At start of year 1,114,056 9,136 1,785 1,124,977 At end of year 1,155,499 8,974 1,570 1,166,043 16
an BALLYLOUGHAN C REGATION OF THE P BrfERIAN CH H IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 DEBTORS UNRESTRIcfED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Gift Ald Recoverable Prepayments Sundry debtors 29,847 5,469 26,460 56,307 5,469 68,877 5,185 35,316 26,460 61,776 74,062 10 CASH AT BANK AND IN HAND UNRESTRicfED FUNDS REsfRicfED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Bank current accounts Bank deposit account Cash in hand 132,455 24 48,825 181,280 24 221 181,525 206,116 24 159 206,299 221 49,046 132,479 11(i) CREDITORS: amounts falling due within one year UNRESTRIcfED FUNDS REsfRICTED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Accruals Loans 4,898 2,052 38,143 40,195 6,950 38,143 45,093 2,929 31,017 33,946 4,898 11{ii) CREDITORS: amounts falling due in more than one year UNRESTRicfED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Loans 210,207 210,207 210,207 210,207 365,374 365,374 17
an BALLYLOUGHAN CONG F THE PRESBYfERIAN CHU H IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 12 FUND BALANCES AND RECONCILIATION OF FUNDS Fund BALANCE AT srART INCOME EXPEND TRANSFER BALANCE AT END UNRESTRICTED FUNDS General account 835,406 217,948 (162,882) (727,575) 162,897 835,406 217,948 (162,882) (727,575) 162,897 RESTRICTED FUNDS Mlsslonary Other mlssion suppport Property Communlty initative Kids church Girls Brigade Boys Brigade Toddlers Mix Men's group 9,699 38,697 1,000 141,090 6,315 247 2,557 2,732 276 9,298 (30,195) (1,000) (58,559) (3,053) (120) (3,583) {2,573) (215) (9,955) 18,201 145,963 8,840 250 1,366 755 2,032 1,569 139 728,585 (I,oio) 957,079 11,092 377 340 914 2,093 912 139 170,612 202,212 (109,252) 727,575 991,147 TOTAL FUNDS 1,006,018 420,160 (272,134) 1,154,044 13 RELATED PARTY TRANSACTION One of the Trustees, the minister of the congregatlon reIVed remuneration of £39,657 and expenses of £7,036 for acting in that capacity. Pension contributions of £9,517 were paid by the congregation in respert of the minister to the Presbyterian Church In Ireland Pension Scheme (2009). None of the other trustees received any remuneration or expenses during the year in connection with thelr 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 £15,214 for congregational aeMentS £12,260 towards the United Appeal £3,400 towards Orphans and Children Soclety The congregation contributed £659 toward5 Presbytery Assessments durlng the year. There were no other related party transactions. 18