| LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND | LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND | LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND | LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND | LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND | LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND | LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND | LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND | |||
|---|---|---|---|---|---|---|---|---|---|---|
| RECEIPTS AND PAYMENTS ACCOUNT | ||||||||||
| FOR THE YEAR ENDED 31ST DECEMBER 2024 | ||||||||||
| Notes | Unrestricted | **Restricted ** | Endowment funds | Total | Total | |||||
| 2024 | 2024 | 2024 | 2024 | 2023 | ||||||
| £ | £ | £ | £ | £ | ||||||
| Income | ||||||||||
| Freewill offerings,donations andplate collections | 38,258.60 | 3,612.00 | 41,870.60 | 42,603.35 | ||||||
| Legacies | 2,000.00 | 3,000.00 | 5,000.00 | - | ||||||
| Gift Aid Refund | 6,247.66 | 1,467.82 | - | 7,715.48 | 7,984.07 | |||||
| CharityAppeals - Special Collections | 2 | - | 5,707.34 | - | 5,707.34 | 5,065.00 | ||||
| Income from land andproperty | 46.28 | 2,056.00 | - | 2,102.28 | 4,981.43 | |||||
| Graves | 50.00 | - | - | 50.00 | 240.00 | |||||
| Fundraisingincome | 4,914.65 | - | - | 4,914.65 | 5,125.50 | |||||
| Receipts from SundaySchool and Children's Church | - | 1,161.85 | 1,161.85 | 985.43 | ||||||
| LargyCommunityAssociation loan repaid | - | - | - | - | 1,000.00 | |||||
| SundryIncome | 298.00 | 640.00 | - | 938.00 | 1,072.00 | |||||
| Investment income | 8.67 | 784.47 | - | 793.14 | 514.14 | |||||
| Receipts from Church's Organisations | - | 4,025.63 | - | 4,025.63 | 3,037.95 | |||||
| Total Income | 51,823.86 | 22,455.11 | - | 74,278.97 | 72,608.87 | |||||
| Expenditure | ||||||||||
| General AssemblyAssessments | 3,889.00 | - | - | 3,889.00 | 3,453.00 | |||||
| Minister's Expenses | 27,916.50 | 2,056.00 | - | 29,972.50 | 28,906.75 | |||||
| Organists and supplyministers | 929.00 | - | - | 929.00 | 490.00 | |||||
| Church Expenses | 5,353.88 | 2,337.20 | - | 7,691.08 | 11,786.03 | |||||
| Maintenance Manse | 701.32 | 3,304.12 | - | 4,005.44 | 3,837.30 | |||||
| CharityAppeals - | ||||||||||
| Donations from Special Collections | 2 | - | 6,206.14 | - | 6,206.14 | 5,786.88 | ||||
| Donation from Mission Support | 3 | - | 393.00 | - | 393.00 | 652.00 | ||||
| Donations from General funds | 3 | 801.36 | - | 801.36 | 1,043.62 | |||||
| Rentedproperty: expenses | 1,440.08 | 1,375.00 | - | 2,815.08 | 1,001.40 | |||||
| Payments from SundaySchool and Children's Church | - | 757.40 | - | 757.40 | 730.27 | |||||
| Graveyard upkeep | 2,100.00 | - | - | 2,100.00 | 2,100.00 | |||||
| Payments from Church's Organisations | - | 3,379.17 | - | 3,379.17 | 3,164.54 | |||||
| Sundries | 2,632.74 | 891.01 | - | 3,523.75 | 2,893.69 | |||||
| Total Expenditure | 45,763.88 | 20,699.04 | - | 66,462.92 | 65,845.48 | |||||
| Excess of Income over Expenditure | 6,059.98 | 1,756.07 | - | 7,816.05 | 6,763.39 | |||||
| On behalf of the Trustees | ||||||||||
Rev Dr Clive Glass (Minister) 29/5/2025
Mr Jim Donaghy (Clerk of Session) 29/5/2025
LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2024
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Unrestricted RestrictedEndowment Total Total
Note Funds Funds Funds Funds Funds
2024 2024 2024 2024 2023
£ £
Fixed Assets 1,913,846.94 1,834,268.53
Funds
Current accounts 4,489.92 7,665.48 - 12,155.40 12,619.91
Deposit accounts 13,619.84 39,257.20 - 52,877.04 43,512.25
Cash on hand 856.77 - 856.77 1,941.00
Total funds 4 18,109.76 47,779.45 - 65,889.21 58,073.16
Total Assets less Liabilities 1,979,736.15 1,892,341.69
On behalf of the Trustees
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| Rev Dr Clive Glass | Mr Jim Donaghy |
|---|---|
| (Minister) | (Clerk of Session) |
| 29/5/2025 | 29/5/2025 |
| NOTES TO THE ACCOUNTS | |||||||||||||
| YEAR ENDED 31ST DECEMBER 2024 | |||||||||||||
| 1 | Accounting Policies | ||||||||||||
| Theprincipal accounting policies applied in thepreparation of the Receipts and Payments Account and the Statement of Assets and Liabilities are as follows: | |||||||||||||
| **(a) ** | Receipts and Payments Account | ||||||||||||
| All items of income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basis. | |||||||||||||
| **(b) ** | Fund Accounting | ||||||||||||
| Endowment funds are funds,the capital of which must be retained eitherpermanentlyor at the congregation's discretion;the income derived from the | |||||||||||||
| endowment is to be used either as restricted or unrestricted income funds dependingupon thepurpose for which the endowment was established in the | |||||||||||||
| firstplace. | |||||||||||||
| Restricted funds comprise(a)income from endowments which is to be expended onlyon the restrictedpurposes intended bythe donor and(b)revenue | |||||||||||||
| donations orgrants for a specific congregational activityintended bythe donor. Where these funds have unspent balances,interest on theirpooled | |||||||||||||
| 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'sgeneralpurposes. Designated funds aregeneral funds set aside by | |||||||||||||
| the congregation for use in the future. | |||||||||||||
| **(c) ** | Statement of Assets and Liabilities | ||||||||||||
| Fixed Assets | |||||||||||||
| The congregation owns the followingassets: | |||||||||||||
| The Church and Church Hallpremises situated at Drumrane Road,Limavady,BT49 9LQ,and the associated fixtures and fittings. These have an insurance value | |||||||||||||
| of £1,521,755.72 | |||||||||||||
| The Sexton's house situated at 122 Drumrane Road,Limavady. This has an insurance value of £192,091.22. | |||||||||||||
| Carpark situated at Drumrane Road,Limavady. The Trustees have valued this at £40,000. | |||||||||||||
| 11.75 acres of land located at LargyRoad,Limavady. The Trustees have valued this at £120,000. | |||||||||||||
| Land andpartlybuilt Manse located at LargyRoad,Limavady. The Trustees have valued this at £40,000. | |||||||||||||
| 2 | Special Collections | ||||||||||||
| Collections | Gift aid | Payments | |||||||||||
| £ | £ | ||||||||||||
| United Appeal | 4,024.20 | 683.40 | 4,433.00 | ||||||||||
| TemporaryMissionaries | 583.00 | - | 583.00 | ||||||||||
| World Development Appeal | 430.00 | - | 430.00 | ||||||||||
| LeprosyMission | 85.00 | 35.00 | 120.00 | ||||||||||
| Good News for Everyone | 204.00 | - | 204.00 | ||||||||||
| Royal British Legion | 116.14 | - | 116.14 | ||||||||||
| Children's Cancer | 265.00 | 55.00 | 320.00 | ||||||||||
| 5,707.34 | 773.40 | 6,206.14 | |||||||||||
| The balance of £274.60 collected and notpaid to United Appeal has been transferred to | mission support account | andpaid to | |||||||||||
| charities included in Note 3 below | |||||||||||||
| 3 | Donationspaid from General Funds and Mission Support Account | ||||||||||||
| TemporaryMissionaries | 237.00 | ||||||||||||
| World Development Appeal | 107.50 | ||||||||||||
| Good News for Everyone | 46.00 | ||||||||||||
| Presbyterian Orphans & Children's Society | 300.00 | ||||||||||||
| Orphans of Ministers | 300.00 | ||||||||||||
| Children's Cancer | 10.00 | ||||||||||||
| Open Doors | 80.00 | ||||||||||||
| LeprosyMission | 30.00 | ||||||||||||
| Royal British Legion | 83.86 | ||||||||||||
| 1,194.36 | |||||||||||||
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4 Movement in funds
At 1st Jan Incoming Outgoing Transfers At 31st Dec
2024 Resources Resources 2024
Restricted funds
General fund 0.00 7,120.74 - 6,846.14 - 274.60 - 0.00
Repair fund 26,137.69 8,050.89 -6,994.82 6,432.22 33,625.98
Manse Property Account 1,293.51 2,056.00 -2,228.51 - 1,121.00
Mission Support fund 4,015.48 40.00 -493.00 535.60 4,098.08
Midweek Fellowship fund 563.66 1,403.69 -931.00 - 1,036.35
Choir fund 3,651.56 42.85 -300.00 - 3,394.41
Senior Citizens' fund 3.88 683.00 -542.17 - 144.71
Presbyterian Women 879.06 1,896.09 -1,606.00 - 1,169.15
Sunday School and Children's Church 2,785.32 1,161.85 -757.40 - 3,189.77
39,330.16 22,455.11 -20,699.04 6,693.22 47,779.45
Unrestricted funds
General fund 18,743.00 51,823.86 - 45,763.88 - 6,693.22 18,109.76
Total funds 58,073.16 74,278.97 - 66,462.92 - 65,889.21
5 Governance costs
Governance costs of £200 were incurred during the year of which £200 relates to fees paid to the
independent examiner. These are included in Sundry expenses.
6 Transactions with the Trustees
The Church paid expenses of £4,005.44 relating to the running costs of the Manse which is occupied by
the Minister (2023-£3,837.30)
No other Trustee received any remuneration or payments.
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