2024-12-31-accounts

Dunluce Congregation of the Presbyterian Church in Ireland

Statement of Financial Activities

Year ended 31 December 2024

			2024	2024		2023
		Unrestricted	Restricted	Endowment
		funds	funds	funds	Total funds	Total funds
	Note	£	£	£	£	£
Income and endowments
Donations and legacies	4	82,361	22,648	–	105,010	93,551
Charitable activities	5	180	14,570	–	14,750	12,935
Other trading activities	6	49	–	–	49	48
Investment income	7	10,783	1,570	–	12,353	8,198
Other income	8	–	72,650	–	72,650	–
		────────	─────────	────	─────────	─────────
Total income		93,373	111,438	–	204,812	114,732
		════════	═════════	════	═════════	═════════
Expenditure
Expenditure on
charitable activities	9,10	89,018	143,977	–	232,997	198,368
		────────	─────────	────	─────────	─────────
Total expenditure		89,018	143,977	–	232,997	198,368
		════════	═════════	════	═════════	═════════
		────────	─────────	────	─────────	─────────
Net expenditure		4,355	(32,539)	–	(28,185)	(83,636)
		════════	═════════	════	═════════	═════════
Transfers between funds		(35,000)	35,000	–	–	–
Other recognised gains	and	losses
Other gains/(losses) - fair
value movement		–	–	4,132	4,132	11,071
		────────	─────────	───────	─────────	─────────
Net movement in funds		(30,645)	2,461	4,132	(24,053)	(72,565)
Reconciliation of funds
Total funds brought forward		1,142,469	30,249	82,215	1,254,933	1,327,497
		────────────	─────────	────────	────────────	────────────
Total funds carried forward		1,111,824	32,710	86,347	1,230,881	1,254,930
		════════════	═════════	════════	════════════	════════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 10 to 20 form part of these financial statements.

8

Dunluce Congregation of the Presbyterian Church in Ireland

Statement of Financial Position

31 December 2024

		2024	2023
	Note	£	£
Fixed assets
Tangible fixed assets	15	511,937	523,139
Investments	17	86,347	82,215
		─────────	─────────
		598,284	605,354
Current assets
Cash at bank and in hand		636,016	651,258
Creditors: amounts falling due within one year	18	3,420	1,680
		─────────	─────────
Net current assets		632,596	649,578
		────────────	────────────
Total assets less current liabilities		1,230,880	1,254,932
		────────────	────────────
Net assets		1,230,880	1,254,932
		════════════	════════════
Funds of the charity
Endowment funds		86,347	82,215
Restricted funds		32,710	30,247
Unrestricted funds		1,111,824	1,142,468
		────────────	────────────
Total charity funds	19	1,230,881 ════════════	1,254,930 ════════════

These financial statements were approved by the board of trustees and authorised for issue on 31 March 2025, and are signed on behalf of the board by:

Rev. A J Buick Trustee

Mrs Jean Sharpe Trustee

The notes on pages 10 to 20 form part of these financial statements.

9

Dunluce Congregation of the Presbyterian Church in Ireland

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is 24 Priestland Road, Bushmills, BT57 8XB, NI.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act (Northern Ireland) 2008.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The entity satisfies the criteria of being a small charity. As such, advantage has been taken of the following disclosure exemptions available to smaller charities : (a) No cash flow statement has been presented for the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the current and prior year the only estimate in the financial statements is the depreciation of property.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

10

Dunluce Congregation of the Presbyterian Church in Ireland

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

11

Dunluce Congregation of the Presbyterian Church in Ireland

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - 2% straight line Equipment - 15% reducing balance

Heritage assets

Heritage assets measured under the cost model are recognised initially recorded at acquisition cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Heritage assets measured under the revaluation model are recorded at fair value less any accumulated impairment losses.

Where information on the cost or value of an asset is not available and cannot be obtained at a cost which is commensurate with the benefits to users of the financial statements, the asset shall not be recognised in the statement of financial position.

Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

12

Dunluce Congregation of the Presbyterian Church in Ireland

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

13

Dunluce Congregation of the Presbyterian Church in Ireland

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Financial instruments (continued)

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Donations and legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Donations
Freewill offering and loose collections	82,361	11,657	94,019
United Appeal and other missions	–	8,037	8,037
Special collections	–	1,954	1,954
Food bank donation	–	1,000	1,000
	────────	────────	─────────
	82,361	22,648	105,010
	════════	════════	═════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Donations
Freewill offering and loose collections	72,334	11,141	83,476
United Appeal and other missions	–	8,769	8,769
Special collections	–	1,306	1,306
Food bank donation	–	–	–
	────────	────────	────────
	72,334	21,216	93,551
	════════	════════	════════

14

Dunluce Congregation of the Presbyterian Church in Ireland

Notes to the Financial Statements (continued)

Year ended 31 December 2024

5. Charitable activities

			Unrestricted	Restricted	Total Funds
			Funds	Funds	2024
			£	£	£
	Sale of goods/services as part of direct	charitable
	activities		180	2,900	3,080
	Grants and community funding		–	1,887	1,887
	Other income from charitable activities		–	9,783	9,783
			────	────────	────────
			180	14,570	14,750
			════	════════	════════
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2023
			£	£	£
	Sale of goods/services as part of direct	charitable
	activities		162	2,900	3,062
	Grants and community funding		–	1,400	1,400
	Other income from charitable activities		200	8,273	8,473
			────	────────	────────
			362	12,573	12,935
			════	════════	════════
6.	Other trading activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2024	Funds	2023
		£	£	£	£
	Letting and licensing	49	49	48	48
		════	════	════	════
7.	Investment income
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2024
			£	£	£
	Bank interest receivable		10,783	1,570	12,353
			════════	═══════	════════
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2023
			£	£	£
	Bank interest receivable		8,182	16	8,198
			═══════	════	═══════
8.	Other income
		Restricted	Total Funds	Restricted	Total Funds
		Funds	2024	Funds	2023
		£	£	£	£
	Insurance claim received for heritage
	asset damage	72,650	72,650	–	–
		════════	════════	════	════

15

Dunluce Congregation of the Presbyterian Church in Ireland

Notes to the Financial Statements (continued)

Year ended 31 December 2024

9. Expenditure on charitable activities by fund type

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
General congregational activities	87,278	126,023	213,301
Sabbath school	–	2,540	2,540
Presbyterian Women	–	7,450	7,450
Girls Brigade	–	7,350	7,350
Youth Fellowship	–	468	468
Badminton	–	100	100
Bowling club	–	20	20
Group catering	–	26	28
Support costs	1,740	–	1,740
	────────	─────────	─────────
	89,018	143,977	232,997
	════════	═════════	═════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
General congregational activities	82,240	104,503	186,742
Sabbath school	–	1,670	1,670
Presbyterian Women	–	2,422	2,422
Girls Brigade	–	4,630	4,630
Youth Fellowship	–	1,063	1,063
Badminton	–	100	100
Bowling club	–	30	30
Group catering	–	30	30
Support costs	1,681	–	1,681
	────────	─────────	─────────
	83,921	114,448	198,368
	════════	═════════	═════════

10. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds	Total fund
	directly Support costs		2024	2023
	£	£	£	£
General congregational activities	213,301	–	213,301	186,742
Sabbath school	2,540	–	2,540	1,670
Presbyterian Women	7,450	–	7,450	2,422
Girls Brigade	7,350	–	7,350	4,630
Youth Fellowship	468	–	468	1,063
Badminton	100	–	100	100
Bowling club	20	–	20	30
Group catering	28	–	28	30
Governance costs	–	1,740	1,740	1,681
	─────────	───────	─────────	─────────
	231,257	1,740	232,997	198,368
	═════════	═══════	═════════	═════════

16

Dunluce Congregation of the Presbyterian Church in Ireland

Notes to the Financial Statements (continued)

Year ended 31 December 2024

11. Net expenditure

Net expenditure is stated after charging/(crediting):

	2024	2023
	£	£
Depreciation of tangible fixed assets	11,202	11,264
	════════	════════
Independent examination fees
	2024	2023
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	1,740 ═══════	1,680 ═══════

12. Independent examination fees

13. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2024	2023
	£	£
Wages and salaries	39,241	34,826
Social security costs	3,436	3,240
Other employee benefits	8,795	7,954
	────────	────────
	51,472	46,020
	════════	════════

The average head count of employees during the year was 1 (2023: 1).

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

14. Trustee remuneration and expenses

• during the year the minister's stipend £33,996 was received by Rev. A J Buick

• the minister's motor and duties expenses £7,036.00 were reimbursed during the year

15. Tangible fixed assets

	Freehold
	property	Equipment	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	542,493	2,760	545,253
	═════════	═══════	═════════
Depreciation
At 1 January 2024	21,700	414	22,114
Charge for the year	10,850	352	11,202
	─────────	───────	─────────
At 31 December 2024	32,550	766	33,316
	═════════	═══════	═════════
Carrying amount
At 31 December 2024	509,943	1,994	511,937
	═════════	═══════	═════════
At 31 December 2023	520,793	2,346	523,139
	═════════	═══════	═════════

17

Dunluce Congregation of the Presbyterian Church in Ireland

Notes to the Financial Statements (continued)

Year ended 31 December 2024

16. Heritage assets

The church, the church hall and the grounds within the curtilage of these buildings are heritage assets. These assets have not been recognised in the statement of financial position as the costs of formal valuation would not be commensurate with the benefit to users of the accounts and the charity.

17. Investments

	Other
	investments
	£
Cost or valuation
At 1 January 2024	82,215
Additions	–
Fair value movements	4,132
	────────
At 31 December 2024	86,347
	════════
Impairment
At 1 January 2024 and 31 December 2024	–
	════════
Carrying amount
At 31 December 2024	86,347
	════════
At 31 December 2023	82,215
	════════

All investments shown above are held at valuation.

18. Creditors: amounts falling due within one year

Accruals and deferred income

2024	2023
£	£
3,420	1,680
═══════	═══════

19. Analysis of charitable funds

Unrestricted funds

	At				Gains and	At
	1 Jan 2024	Income	Expenditure	Transfers	losses	31 Dec 2024
	£	£	£	£	£	£
General
unrestricted funds	1,142,469	93,373	(89,018)	(35,000)	–	1,111,824
	════════════	════════	════════	════════	════	════════════

18

Dunluce Congregation of the Presbyterian Church in Ireland

Notes to the Financial Statements (continued)

Year ended 31 December 2024

19. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
	At						Gains and	At
1 Jan 2024		Income		Expenditure	Transfers		losses	31 Dec 2024
	£		£	£	£		£	£
Building fund	11,040	98,165		(126,020)	35,000		–	18,185
Sabbath school	807	2,410		(2,541)		–	–	676
Presbyterian
Women	1,533	2,184		(7,450)	9,039		–	5,306
Girls Brigade	6,623	6,680		(7,350)		–	–	5,953
Youth Fellowship	295	1,863		(468)	305		–	1,995
Badminton	567		128	(100)		–	–	595
Bowling club	265		–	(20)	(245)		–	–
Group catering	9,059		8	(28)	(9,039)		–	–
TOP	60		–	–	(60)		–	–
	────────	─────────		─────────	────────		────	────────
	30,249	111,438		(143,977)	35,000		–	32,710
	════════	═════════		═════════	════════		════	════════
Endowment funds
	At						Gains and	At
1 Jan 2024		Income		Expenditure	Transfers		losses	31 Dec 2024
	£		£	£	£		£	£
Permanent
Endowment -
Investments	82,215		–	–		–	4,132	86,347
	════════		════	════	════		═══════	════════
Analysis of net assets between funds
	Unrestricted		Restricted Endowment			Total Funds		Total Funds
		Funds		Funds	Funds		2024	2023
		£		£	£		£	£
Tangible fixed assets	511,937			–	–		511,937	523,139
Investments		–		–	86,347		86,347	82,215
Current assets	603,308			32,708	–		636,016	651,259
Creditors less than 1
year		(3,420)		–	–		(3,420)	(1,680)
	────────────			────────	────────		────────────	────────────
Net assets	1,111,825			32,708	86,347		1,230,880	1,254,933
	════════════			════════	════════		════════════	════════════

20. Analysis of net assets between funds

21. Financial instruments

The carrying amount for each category of financial instrument is as follows:

2024 2023 £ £ Financial assets that are debt instruments measured at amortised cost Financial assets that are debt instruments measured at amortised cost 636,016 651,258 ═════════ ═════════

19

Dunluce Congregation of the Presbyterian Church in Ireland

Notes to the Financial Statements (continued)

Year ended 31 December 2024

21. Financial instruments (continued)

2024 2023 £ £ Financial liabilities measured at amortised cost Financial liabilities measured at amortised cost - accruals 3,420 1,680

20