an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND Trustees Annual Report and Financial Statements for the year ended 31st December 2024 Registered with the Charity Commission for Northern Ireland NIC105343
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT The Trustees present their Annual Report and Financial Statements for the year ended 31st December 2024, including a Balance Sheet as at that date. REFERENCE AND ADMINISTRATIVE DEfAILS First Broughshane Congregation of the Presbyterian Church in Ireland. Address: Main Street, Broughshane, Co Antrim, BT42 4JW. Registered Charity in Northern Ireland - NIC105343. CHARITY TRUSTEES The Charity Trustees who served during the year or who were trustees at the date of this report were: Rev Ronnie Agnew Mr John Hamilton Mr Tony Jackson Mr John Knox Mr Colin Heron Mr Alan McRobert Mrjohn Maybin Mr Alan Reid Mr John Anderson Mr Noel Connor Mr Richard Hood Mr George Mcmullan PRINCIPAL OFFICE BEARERS Minister: Clerk of Session: Treasurer: Rev Ronnie Agnew Mr Noel Connor Mr John Anderson
Presbyter an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT cont'd AUDITORS Mr Peter Stevenson F.C.A. Senior Statutory Auditor Stevenson & Wilson Chartered Accountants, Statutory Auditor 22-30 Broadway Avenue, Ballymena. BT43 7AA. BANKERS Danske Bank 1-2 Broadway Avenue, Ballymena. BT43 7PE. SOLICITORS McKervill Neilly l Broadway Avenue, Ballymena. BT43 7AA.
Presbyter an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT cont'd STRUCTURE, GOVERNANCE AND MANAGEMENT The Kirk Session The Charity Trustees of the congregation are the members of its Kirk Session. Under the congregation's governing document, The Code, the book of the constitution and government of the Presbyterian Church in Ireland, the Kirk Session seeks to watch over and promote the spiritual interest of the congregation and of persons not connected with any congregation who are within its bounds. It ensures pastoral care is in place in the congregation and seeks to further the contribution of the Church to Christian witness and service in the local community. The Kirk Session has delegated to its Congregational Committee the temporal affairs of the congregation, including administering all funds and property belonging to the congregation. Members of the Kirk Session are ex-officio members of the Congregational Committee. The Kirk Session consists of the ordained minister and the ruling elders of the congregation. All members are entitled to propose, speak and exercise equal votes at meetings, except that the Moderator, the minister in active duty in the congregation, has no deliberative but only a casting vote. Stated meetings of the Kirk session are held several times each year as required. To be chosen for the office of the eldership in the congregation a person must be a voting member and a regular attendant at its ordinances. The selection of those proposed to be called to the office can be either by the congregation or by the Kirk Session. Members are elected if they obtain two-thirds of those who vote. Upon election, the Elders are subject to in-house training pertinent to their role. Presbytery Under the Presbyterian Church in Ireland Form of Governance, the corporate oversight of a congregation is the responsibility of a Presbytery which superintends generally the Spiritual and temporal affairs of the congregations a55igned to it by the General Assembly of the Presbyterian Church in Ireland. First Broughshane Presbyterian Church has been assigned to the Ballymena Presbytery of the Presbyterian Church in Ireland. The membership of the Presbytery consists mainly of the active ministers of congregations assigned to it by the General Assembly, minsters who have retired from active duty and an elder appointed by the Kirk Session of each congregation. 31Page
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT cont'd The General Assembly The General Assembly is the supreme court of the Church, representing in one body the whole Church and acting as its supreme legislative, administration and judicial authority, in dealing with all matters brought before it. The General Assembly is normally constituted during the firstweek in June forworship and to conduct its bu5ine55. Atthe end of busines5, it is normally dissolved. The membership of the General Assembly consists mainly of the active minister of each congregation, retired ministers and a representative elder appointed by the Kirk Session of each congregation. DESCRIPTION AND PURPOSE The charitable purpose of the congregation is the advancement of religion. First Broughshane congregation of the Presbyterian Church is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Reformed Church within the wider body of Christ, is grounded in the Scriptures, and exists to love and honour God through faith in His Son and by the power of His Spirit, and to enable its members to play their part in fulfilling God's mission to our world. The congregation's mission purpose is to be a local community of God's people, who "by the grace of God" aims to help people of all ages come to know Jesus Christ as their Lord and Saviour and become His disciples. Our vision is to be a welcoming community of Christ's people of all ages, which: Is characterised by love for God, and love and concern for others, Is committed to the historic Christian gospel as revealed in the Bible. Is relevant to people of this time and place. The congregation aims to live out its Mission and Vision of God's people by bein8: A Covenant Community where our relationships are rooted in the promises of God bv living faithfully toward Him and toward one another. An Intergenerational Community where adults intentionally take the lead to engage with, encourage and nurture younger members to maturity in Christ. An Outward looking Community where we want to share the life changing Good News of Jesus and extend His love to others beyond the bounds of our Community.
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT cont'd As a congregation of the Presbyterian Church in Ireland, we believe that the bible is the supreme authority over all we do, and that the Westminster Confession of Faith, along with the Larger and Shorter Catechisms set out what we understand the Bible teaches on key matters of Christian faith and practice. ACTIVITIES AND OBJECtIVE5 The congregation, along with any visitors, meets for worship every Sunday and this activity is central to the life of the congregation. The congregation desires that its Sunday worship would be a place where everyone is made welcome and is relevant to all ages. The Sacrament of the Lord's Supper is observed at least twice during the year. All those who have been baptised and who have made a profession of faith in the Lord Jesus Christ are admitted to the Lord's Supper. There were five new members admitted to the Lord's Supper in 2024. Baptisms are administered to children of believing parents and adults upon profession of faith. There we no baptisms in 2024. Weekly prayer meetings are held on Sunday mornings before the service and on Wednesday evenings. Organisations: The congregation has a busy pro8ramme of activities with a wide range of organisations including: Sunday School and Bible Class Connect Youth Fellowship Girls Brigade Bowling Cub Schools and Colleges Prayer Group Presbyterian Women Men Alive Wednesday Friends Missions Committee Tuesday Fellowship Alternative Praise Band Women's Bible Study Griefshare Tots@First {Parent & Toddler Group) Small Groups for Bible Study and prayer 51Page
Presbyter an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT cont'd ACHIEVEMENTS AND PERFORMANCE Worship and prayer The congregation meets for worship each Sunday at 11.30 am, and on the second and fourth Sunday evenings at 6.30pm. Attendance at morning worship is approximately 200 each week, and 60 to 70 in the evening. During the week the Weekly Prayer meeting provides an opportunity for members to meet together and unite in prayer for the church and the wider community. We broadcast service5 each Sunday morning on Facebook, YouTube and Church website via our Livestream facility. DVD recordings were also made available for anyone who did not have access to online facilities. At 31 December 2024 there were 177 communicant members and 220 families connected with the congregation. Pastoral care Members of the congregation who are unable to attend church due to sickness or age are visited by the minister, deaconess, elders or other congregational members. Misslon and Outreach All of the activities referred to earlier are open to people who are not members of the congregation. The congregation also supports the United Appeal for Mission, which is a central fund of the Presbyterian Church in Ireland. Thisfund enables congregations to support the wider mission of the denomination and to do mission and outreach on a denominational basis beyond what the congregation could do on its own. The United Appeal Fund provides financial support for mission personnel at home and overseas, assists congregations with the deployment of locally based staff, enables church planting, provides grant support for the upkeep of church premises, assists with the running costs of Union Theological College, the Church's training college for ministry students, and financially supports congregations in the areas of worship, discipleship, global mission, outreach, leadership and pastoral care.
an FIRST BROUGHSHANE CONGREGATION OF THE pREsBER1AN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT cont'd Mission and Outreach (cont'd) We also operate an envelope scheme administered by our Mission Committee which allocates the proceeds to other mission partners. During the year £6,190 was paid to other mission partners. The congregation normally joins with other churches in Broughshane village for Easter, Harvest and Christmas services, and on other occasions throughout the year. Presbytery The congregation was represented at the regular meetings of Presbytery by our minister and one of the representative elders. This provides an important link between the congregation and the wider structures of the church. General Assembly The minister and one of our elders are normally nominated to attend the meeting of the General Assembly of the Presbyterian in Ireland which is held in Assembly Buildings, Belfast which took place in June this year. Property - New Hall Project The builders, Martin and Hamilton, handed over the keys for the renovated and extended Church Hall facility in the early part of the summer. In September the congregation held a weekend of celebrating the completion of this project. This included a Service of Dedication by the Moderator of the General Assembly of the Presbyterian church in Ireland, a5 well as an Open Day when all the local community were invited to tour the new hall. This project has enhanced the work of the existing congregational organisations with the more flexible and comfortable facilities. It has enabled the congregation to run more than one activity at a time, and start new ministries (Parent and Toddlerfs, Griefshare, as well as being able to facilitate other groups from outside of the congregation. We are incredibly grateful to Second Broughshane Presbyterian, St Patrick's Church of Ireland, and the Community Association for all their help with alternative accommodation during the building project.
Presbyter an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT cont'd Meeting House The congregation also undertook to update and enhance the Meeting House. This included rewiring, new lightin8 (including emergency lighting), new alarm system, safety rails on the gallery, removal of the choir box, repositioning of the organ, and re-carperting. This has made an overall improvement to the welcoming "feel to the Meeting House, and a flexibility required for modern services of worship. Volunteers The Trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees and helping with organisations and other church activities. Plans for future periods The Trustees do not envisage any change in activities in future periods. The Church is committed to its ongoing Mission as detailed above. PUBLIC BENEFIT STATEMENT The Presbyterian Church in Ireland meets the public benefit requirement by providing benefit to its members and the general public, by making known the Christian Gospel of the Lord Jesus Christ through the advancement of religion. The direct benefits which flow from the purposes of the Church include the gaining of an understanding in Christian beliefs, as set out in the Bible, and in the Church's subordinate standards (the Westminster Confession of Faith and the Shorter and Larger Catechisms), leadingto spiritual and moral development and opportunities for response to Bible teaching. In turn, this framework leads to practical expressions of Christian beliefs and standards in the local community, such as through the care of those in need (including the sick, disabled and bereaved). Generally, the above benefits are delivered locally by congregations and their members, or are facilitated through presbyteries, or are organi5ed and delivered centrally. Local delivery is facilitated by central resources in almost all cases. Public acce55 15 made known through the use of noticeboards, printed material, press advertisement, websites, and social media or in other ways. The benefits are demonstrated through regular evaluation of the services and informal and ad-hoc feedback from members, their families, and members of the public.
Presbyter an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT cont'd PUBLIC BENEFIT STATEMENT (cont'd) The purpose does not lead to harm. The only private benefit flowing from our purpose is related to Ministers, Missionaries, Deaconesses, Irish Mission workers and Lay Agents who receive benefits as a result of their holding office or employment. However, this is incidental and necessary in order to further our charitable purpose. There are no other private benefits. The beneficiaries of this purpose are mernbers, their families, other individuals that the Presbyterian Church in Ireland is in direct and indirect contact with, the community in which pastoral services are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement with and support for both Christian and other secular organisations, charities and individual members of the public. The Kirk Session has had regard to the Commission's Public benefit requirement statutory guidance. FINANCIAL REVIEW These financial statements consolidate the income and expenditure for the General account and the other activities of the church organisations. The congregation's main source of income is members, contributions through the weekly Free Will Offering. There were 220 contributing families during the year (211 in 2023} donating a total of £111,877 (£111,364 in 2023) to the General account. In addition to this there was also £342,417 donated to Building account (£273,153 in 20231. The Church's overall income for 2024 was £830,767 (£780,683 in 20231. The main reasons for this increase were the increased donations and grants received towards the ongoing new hall project. Expenditure increased from £167,462 in 2023 to £223,736 in 2024. The major item of expenditure are costs in relation to ministry and support staff totalling £81,2141£77,202 in 2023. During the year donations to Missions and Charities of £18,378 were made (£12,982 in 20231. At 31 December 2024 the balance sheet 15 in a healthy position with net assets of £3,209,856 {£2,599,741 in 20231. The Trustees are pleased that the financial position of the Church remains robust as shown on the balance sheet. 91 Page
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT convd TRUSTEES, RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS The Trustees are responsible for preparing the annual report and the financial statements of the congregation in accordance with applicable law and generally accepted accounting practice. The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the congregation and the financial activities for that year. In preparing the financial statements the Trustees are required to: select suitable accounting policies and then apply them consistently; and make judgements and estimates that are reasonable and prudent; State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Funds will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the congregation's transactions and disclose with reasonable accuracy at anytime its financial position and enablethemto en5urethat the financial statement5 comply with the Statement of Recommended Practice "Accounting and Reporting by Charities" They are also responsible for safeguarding the assets of the congregation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. GOING CONCERN The activities of the congregation are dependent on on-going contributions from its members. The Trustees are of the opinion that the congregation ha5 sufficient resources at the date of approval of these financial statements to meet commitments, which will arise in the yearfrom the date of signing this report and subject to the continuing support from members to fund, on an on-going basis, the congregation's current activities and other financial commitments. 101 Page
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT cont'd RESERVES POLICY Total reserves of the Church amounted to £3,209,856 at the balance sheet date. This amount 15 held in unrestricted and restricted in the amounts of £128,391 and £3,081,465 respectively. 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 aim of the Trustees to hold unrestricted reserves equating to at least 51x months normal expenditure. At the year-end unrestricted reserves were £128,391 which is well in keeping with this policy. The Trustees consider it prudent to hold reserves at this level as the funding of its current activities is dependent on the ongoing financial support of it5 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 on-going financial support from members. These risk5 are mitigated by the Trustees, and the Congregational Committee, regularly monitoring the various activities of the congregation at stated meetings and by encouraging members in their regular giving. Approved by the Kirk Session at a meeting on 20th October 2025 and signed on its behalf by: Rev. Ronnie Ag Mr. Noel Connor Position: Minister Position: Clerk of Session IIIPage
an INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF FIRST BROUGHSHANE CONGREGATION OF THE pREsBER1AN CHURCH IN IRELAND Opinion We have audited the financial statements of First Broughshane Presbyterian Church for the year ended 31st December 2024 which comprise the Statement of Finance Activitie5, Statement of Financial Position, Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) - (Charities SORP (FRS102)1. In our opinion, the financial statements: give a true and fair view of the state of the charity's affairs as at 31st December 2024 and of its incoming resources and their application for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; have been prepared in accordance with the requirements of the Charities Act (Northern Ireland) 2008. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevantto our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 121 Page
an INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF FIRST BROUGHSHANE CONGREGATION OF THE pREsBER1AN CHURCH IN IRELAND (cont'd) Other information The trustees are responsible for the other information. The other information comprises the information included in the annual report, otherthan thefinancial statements and our auditor'5 report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements; and the trustees, report has been prepared in accordance with applicable legal reqLJirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstaternents in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Charities Act (Northern Ireland) 2008 requires us to report to you if, in our opinion: accounting records have not been kept by the charity, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. 131 Page
Presbyter an INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND (cont'd) Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 9, the trustees are responsible for the preparation of the financial statements and for being satisfied that they Eive a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charit¢s ability to continue a5 a going concern, disclosin& as applicable, matters related to going concern and using the going concern basis of accounting unless the trustee either intends to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Audltorfs responsibilities for the audlt of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Mi5Statements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAS {UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omi55ions, misrepresentations, or the override of internal control, Obtain an understandingof internal control relevantto the audit in orderto design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. 141Page
Presbyter an INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF FIRST BROUGHSHANE CONGREGATION OF THE PREsBERIAN CHURCH IN IRELAND (cont'd) Auditorfs responsibilities for the audlt of the financial statements (cont'd) Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities including fraud is detailed below: We identified the laws and regulations applicable to the charity through discussion5 with trustees and key personnel, and from our own knowledge and experience of the charitable sector. We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements orthe operations of the charity, including the Charities Act (Northern Ireland) 2008 and taxation legislation, while also giving consideration to data protection regulations. employment law and health and safety legislation. The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations and the team remained alert to the p05sibility of fraud and non-compliance throughout the audit. We a55essed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur. We did so through discussions with management as to their assessment of areas where fraud or non-compliance might occur, as well as considering the internal controls in place to mitigate risks of fraud and non-compliance. In order to ascertain the extent of compliance with the laws and regulations, we made enquiries of management as to whether there was any actual or potential litigation, we reviewed legal correspondence, we inspected tax correspondence and we performed analytical procedures to identify any unusual or unexpected activity. 151 Page
an INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF FIRST BROUGHSHANE CONGREGATION OF THE PRESBERIAN CHURCH IN IRELAND (cont'd) A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charity's members, as a body. Our audit work has been undertaken so that we might state to the Charit¢s members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have or Peter Stevenson Senior Statutory Auditor For and on behalf of: Stevenson & Wilson Chartered Accountants, Statutory Auditor 22-30 Broadway Avenue, Ballymena. BT43 7AA. Date: 20th October 2025 161PaEe
Presbyter an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL AcfiviTY FOR THE YEAR ENDED 31ST DECEMBER 2024 Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 Notes Income from: Donations and legacies Charita ble activities Othertrading activities Investments Other income 135,757 838 468.179 5,376 603,936 6,214 502,339 5,881 16,130 6,863 249,470 343 5,247 2,805 212.222 3,148 217,469 Total income and endowments 142,185 688,582 830,767 780,683 Expenditure on: Cost of raising funds Expenditure on charitable activities Other expenditure 3.042 5.193 8.235 5,106 137.343 6,694 65,373 6,091 202,716 12,785 160,921 1,435 Total expenditure 147,079 76,657 223,736 167,462 Net income/(expenditure) (4.894) 611.9Z5 607.031 613,221 Transfers between funds io (59,373) 59,373 Revaluation of PCI and NICIFC shares 14 3,077 3,084 4,963 Net movement in funds Reconciliation of funds: Total funds brought forward (64,260) 674,375 610,115 618,184 192,651 2.407,090 2,599,741 1,981,557 Total funds carried fonNard 128,391 3,081,465 3,209,856 2,599,741 171Page
an FIRST BROUGHSHANE CONGREGATION OF THE pREsBER1AN CHURCH IN IRELAND BALANCE SHEET AS AT 31ST DECEMBER 2024 Unrestrirted Funds Restricted Funds Total Funds 2024 Total Funds 2023 Notes Fixed assets Tangible fixed assets Investment5 13 14 71,192 154 3.507,302 93,384 3,578.494 93,538 2,206,292 90,454 Total fixed assets 71,346 3,600,686 3,672,032 2,296,746 Current assets Debtors and prepayments Cash at bank and in hand 15 16 21.252 40,717 71,891 209,389 93,143 250,106 145,893 633,743 Total current a55etS 61,969 281,280 343,249 779,636 Current liabilities Creditors due within one year 17 4.924 300,501 305,425 476,641 Total current liabilities 4,924 300,501 305,425 476,641 Net current assets/{Ilabllltles) 57.045 (19,221) 37,824 302,995 Total net assets 128,391 3,581,465 3,709,856 2,599,741 Creditors due after one year 18 500,000 500,000 Total net assets 128,391 3.081,465 3,209,856 2,599,741 181 Page
Presbyter an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND BALANCE SHEET AS AT 31" DECEMBER 2024 (cont'd) Funds of the charity Unrestricted funds Restricted funds 19 128,391 128,391 3,081,465 192,651 2,407,090 19 3.081,465 Total charity funds 19 128,391 3,081.465 3,209,856 2,599,741 Approved by the Kirk Session at a meeting on 20th October 2025 and signed on its behalf by: Rev. Ronnie Agnew Mr. Noel Connor Position: Minister Position: Clerk of Session 191 Page
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 Total Funds 2024 Total Funds 2023 Cash flow from operating activities Net incoming resources before interest received Depreciation / loss on disposal Revaluation of tangible fixed assets and investments Ilncreasel/decrease in debtors Increase/(decrease) in creditors 606,967 24,857 13,084) 52,750 328,784 611,321 19,227 {4,963) {80,563) 342,302 Net cash inflow from incoming resources 1,010,274 887,324 Return on investments and servicing of finance Interest received 3,148 6,863 1,013,422 894,187 Capital expenditure Purchase of tangible fixed assets {1,397,059) (1,310,175) Net decrease in cash for the year (383,637) 1415,988) Cash and cash equivalents at the beginning of the year 633,743 1,049,731 Cash and cash equivalents at the end of the year 250,106 633,743 201 Page
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTESTO 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: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland IFRS102) {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 currency is Sterling. 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 body, nor those that are informal gatherings of church members. PREPARATION OF ACCOUNTS ON A GOING CONCERN BASIS There are no material uncertainties about the chariws abilityto continue. The accounts have been prepared on a going concern basis. CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATION UNCERTAINTY Estimates and judgments made in the process of preparing 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 Trustee does not consider that there are any critical judgments made in applying the Trust's accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk of causing a material adjustment to carrying amount5 of assets and liabilities Within the next financial year. 211 Page
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) ACCOUNTING POLICIES (cont'd) FUND ACCOUNTING Restricted funds comprise revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis. Unrestricted funds are income funds which are to be spent on the congregation's general purposes. Designated funds are general funds set aside by the congregation for use in the future. INCOMING RESOURCES Recognition of incoming resources These are included in the Statement of Financial Activities (SOFA) when: the congregation becomes entitled to the resources; the trustees are virtually certain they will receive the resources; and the monetary value can be measured with sufficient reliability. {ii) Incoming resources with related expenditure Where incoming resources have related expenditure las with fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. (111) Grants and donations Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the resources. (iv) Tax reclaims on donations and gifts Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. (v} Contractual income and performance related grants This is only included in the SOFA once the related goods or services have been delivered. (vi) Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for use bythe charity are included in the SOFA as incoming resources when receivable. 221Page
Presbyter an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {conVd) ACCOUNTING POLICIES (cont'd) (vii) Donated services and facilities These are only included in incoming resources (with an equivalent amount in resources expended) 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 service or facility received. Iviii) Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. (ix) Investment income This is included in the accounts when receivable. (x) Investment gains and losses This includes any gain or loss 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 LIABILITIES (xi) Llablllty recognltlon Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. {xii) Analysis of expenditure by activity A separate analysis of expenditure on an activity basis has not been presented, nor considered necessary, since all expenditure of the charity is committed to the overall functioning of the Church. (xiii) Governance 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 governance or constitutional matters. (xiv) Grants payable These are only recognised in the accounts when a specific commitment has been made and communicated to a recipient and established pattern indicates that the Charity will meet the commitment. 231 Page
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) ACCOUNTING POLICIES (cont'd) (xv) Grants payable without performance conditions 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. ASSETs/(LIABILITIES) Tangible Flxed Assets The assets of the Church comprise: Church buildin& stores and contents at Main Street, Broughshane Church hall building and contents at Main Street, Broughshane Manse at 111 Raceview Road, Broughshane Agricultural land adjacent to 111 Raceview Road, Broughshane Tangible fixed assets for use by the church are capitalised if they can be used for more than one year, and cost at least £2,500. The Trustees have agreed that any fixed asset addition with a value of less than £2,500 does not need to be shown as an asset and will simply be written off as expenditure in the year of purchase. The church and hall buildings, stores and contents are valued at cost or current market value, or if gifted, at the value to the church on receipt. The manse and agricultural land are valued at current market value. This will be reviewed on an annual basis by the Trustees. Depreciation is recorded on all tangible fixed assets other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as follows: Church and church hall buildings Fixtures, fittings and equipment Computers, software and technical equipment 2% straight line 20% straight line 20% straight line Tangible fixed assets are de-recognised on disposal or when no future economic benefits are expected. On disposal, the difference between the disposal proceeds and the carrying amount is recognised in the statement of financial activities. All capital expenditure associated with the new hall project has been capitalised and depreciation will be charged from the first full year of use by the congregation. 241page
Presbyter an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) ACCOUNTING POLICIES (cont'd) Investments Investments are included in the balance sheet attheir market value at the year end. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held and other short-term highly liquid investments with maturities of three months or less. Financial instruments The Church only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basis financial instruments are initially recognised at transaction price and subsequently measured at their settlement value. DONATIONS AND LEGACIES Unrestrirted Funds Restricted Funds Total Total Funds Funds 2024 2023 Recorded giving: Donations and gifts Gift Aid Loose collections 112,941 19,467 3,349 391,981 76,198 504,922 95,665 3,349 420,996 78,142 3,201 135.757 468,179 603,936 502,339 CHARITABLE ACTIVITIES Unrestricted Funds Restricted Total Total Funds Funds Funds 2024 2023 Organisation grant income Income from charitable activities Membership fees 838 2,048 2,108 1,220 2,886 2,108 1,220 3,871 699 1,311 838 5.376 6,214 5,881 251 Page
an FIRST BROUGHSHANE CONGREGATION OF THE pREsBER1AN CHURCH IN IRELAND NOTESTO THE ACCOUNTS (convd) OTHER TRADING ACTIVITIES Unrestricted Funds Restricted Total Funds Funds 2024 Total Funds 2023 Fundraising events 16,130 INVESTMENTS Unrestrirted Funds Restricted Total Funds Funds 2024 Total Funds 2023 Nl Central Investment Fund for Charities Deposit interest PCI General investment fund 2,641 164 2,641 503 2,638 4,222 339 343 2,805 3,148 6,863 OTHER INCOME Unrestricted Funds Restricted Total Total Funds Funds Funds 2024 2023 Building project grant income Contribution toward utility costs Conacre income Sundry income NIE wayleave Bequest receipts 208,098 208,098 4,200 1,200 3,938 33 238,695 4,000 I,ioo 1,145 30 4,500 4,200 1,200 2,924 1,014 33 5.247 212.222 217,469 249,470 261 Page
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) COST OF RAISING FUNDS Unrestricted Funds Restricted Total Funds Funds 2024 Total Funds 2023 Events and catering FWO envelopes 1,522 1,520 5.193 6,715 1,520 3,640 1,466 3,042 5.193 8,235 5,106 EXPENDITURE ON CHARITABLE ACTIVITIES Unrestricted Funds Restricted Total Funds Funds 2024 Total Funds 2023 Ministry and support staff costs Depreciation charge / loss on disposal Utilities Congregational running expenses Donations to missions and cha rities General assessments Governance costs Stationery and teaching materials Presbytery fees 80.437 1,977 82,414 78,302 24,857 200 24,857 24,257 19,227 17,863 24,057 10.110 8,737 18.847 7,921 18,378 2,571 6,824 18.378 14,833 13,170 12,982 14,835 5,860 12,262 6,346 3,617 514 1,829 5,446 514 3,379 552 137.343 65,373 202.716 160,921 271Page
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) OTHER EXPENDITURE Unrestricted Funds Restricted Total Funds Funds 2024 Total Funds 2023 Repairs and maintenance 6.694 6.091 12.785 1,435 6,694 6,091 12,785 1,435 10. TRANSFERS BETWEEN FUNDS Unrestricted funds are Spent or applied at the discretion of the trustees to further any of the charity's purposes. Unrestricted funds may be used to supplement expenditure made from restricted funds. 11. EMPLOYEES Number of Employees The church had no employees duringthe year12023: none). The minister and the deaconess of the congregation are employees of the Presbyterian Church in Ireland, which is a separate charity and they have not been reflected in the employee costs and average number of employees above. The congregation pays an assessment to the Presbyterian Church in Ireland for both the minister and the deaconess. The following amounts were paid during the year: 2024 2023 Minister stipend Deacones5 salary 40,070 12,203 38,162 11,831 52,273 49,993 281 Page
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 12. PENSION COSTS The minister and deaconess of the congregation are members of the Presbyterian Church in Ireland Pension Scheme12009). 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 minister and the salary paid to the deaconess. The Presbyterian Church in Ireland Pension Scheme (2009) is a funded Scheme of the defined benefit type, providing defined benefits based on career average re-valued salary. The Scheme has assets 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 formal 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, expenses, the cost of insuring death in service benefits and funding the scheme deficit. The total contributions made by the congregation during the year were: 2024 2023 Contributions 12,546 11,949 291Page
Presbyter an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 13. TANGIBLE FIXED ASSETS Buildings and contents Total Cost / Valuation st As at l January 2024 Additions 5,405,595 1,397,059 5,405,595 1,397,059 st As at 31 December 2024 6,802,654 6,802,654 Depreciation As at I" January 2024 Charge for the year 3,199,303 24,857 3,199,303 24,857 As at 31st December 2024 3,224,160 3,224,160 Net Book Value as at 31st December 2024 3,578,494 3,578,494 st Net Book Value as at 31 December 2023 2,206,292 2,206,292 The assets of the Church comprise: Church building, stores and contents at Main Street, Broughshane Church hall building and contents at Main Street, Broughshane Manse at 111 Raceview Road, Broughshane Agricultural land adjacent to 111 Raceview Road, Brough5hane 14. INVESTMENTS Nl Central Investment Fund for Charities PCI General Investment Fund Total Cost/valuation As at 1st January 2024 Revaluation 90,307 3,077 147 90,454 3,084 As at 31" December 2024 93,384 154 93,538 301 Page
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 15. DEBTORS AND PREPAYMENTS 2024 2023 Grant receivable Gift Aid recoverable Prepayments 47,887 39,414 5,842 131,332 9,349 5,212 93,143 145,893 16. CASH AT BANKAND IN HAND 2024 2023 Bank current accounts Bank deposit accounts Cash in hand 244,170 5,429 507 627,372 5,265 1,106 250,106 633,743 17. CREDITORS DUE WITHIN ONE YEAR 2024 2023 Building construction costs due Other creditor5 and accruals 290,567 14,858 453,139 23,502 305,425 476,641 18. CREDITORS DUE AFfER ONE YEAR 2024 2023 Other creditors and accruals 500,000 311 Page
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 19. FUND BALANCES AND RECONCILIATION OF FUNDS Fund Balance at start Balance at end Income Costs Revaluation Transfer Unrestricted Funds General account 192,651 142,185 147,079 159,373) 128,391 192,651 142,185 147,079 7 (59,373) 128,391 Restricted Funds General account Children's and Youth Ministry account Property and Repairs account 15,565 15,565 59,023 59,023 4,873 4,873 531,045 24,513 13.492 542,066 New Hall Building account 1,748,197 13,712 409 119 5,006 345 129 99,181 626,593 4,781 560 25,831 6,235 387 2,141 2,351,100 12,258 532 121 3,055 2,391 129 101,262 Missionary account Bowling Club account Church Choir account G irls Brigade account PW account Shining Star account Sunday School account Tuesday Fellowship account (50) 6,364 3,438 7,964 1,392 {351) 3,228 2,684 3,077 {1,540) 2,395 2,966 2,934 150 2,577 Wednesday Friends account 1,679 572 173 2,078 2,407.090 688,582 76.657 3,077 59,373 3.081,465 OVERALL TOTALS 2.599,741 830,767 223,736 3,084 3,209,856 321 Page
Presbyter an FIRST BROUGHSHANE CONGREGATION OF THE PREs8ERlAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 19. FUND BALANCES AND RECONCILIATION OF FUNDS (cont'd) Analysis of closing funds Unrestricted Funds Restricted Total Funds Funds 2024 Total Funds 2023 Fixed assets Current assets Current liabilities Long term liabilities 71,346 61,969 (4,924) 3,600,686 281,280 (300,5011 (500,000) 3,672,032 343,249 (305,425) (500,000) 2,296,746 779,636 (476,641) Total funds 128,391 3,081,465 3,209,856 2,599,741 20. RELATED PARTY TRANSAcfioNS Rev. Ronnie Agnew is a trustee of the church. In his capacity as the minister of the congregation he received remuneration of £40,070, and an expenses allowance of £7,036. Pension contributions of £9,616 were also paid by the congregation in respect of him to the Presbyterian Church in Ireland Pension Scheme (2009}. Employerfs NIC of £5,245 was paid to the Presbyterian Church in Ireland for the minister. None of the other trustees received any remuneration nor were any of them re-imbursed during the year for expenses they incurred in connection with their duties. A trustee paid conacre of £1,200 during the yearfor the renting of agricultural land belonging to the church. Expenditure in the Statement of Financial Activity includes the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland, a separate charity: Assessments United Appeal 12,262 8,043 The congregation contributed £514 towards Presbytery Assessments during the year. There were no other related party transactions. 331 Page
an FIRST BROUGHSHANE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 21. CAPITAL COMMITMENTS st At 31" December 2024 the Church had no capital commitments. At 31 December 2023 the Church had a capital commitment of £1.2 million in relation to the building works forthe new hall project which were not been provided for in the accounts for that year. 341 Page