|**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|
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|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**
**----- Start of picture text -----**
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
**----- End of picture text -----**
|Rev Dr Clive Glass|Mr Jim Donaghy|
|---|---|
|(Minister)|(Clerk of Session)|
|29/5/2025|29/5/2025|
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**NOTES TO THE ACCOUNTS**||||||||||||||
|**YEAR ENDED 31ST DECEMBER 2024**||||||||||||||
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|||||||||||||||
|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**|||||||||||||
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||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.|||||||||||||
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|**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||||
|||||||||||||||
**----- Start of picture text -----**
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.
**----- End of picture text -----**