GLENWHERRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY FOR YEAR ENDED 31 DECEMBER 2024 NOTE UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL 2024 TOTAL 2023 RECEIPTS Donations & Legacies ChariTaDie Aciivities Investment Income Other Income Revaluation Buildings & Investments 105,706 1,529 1,857 17,960 123,666 163,833 18,127 1,953 196,055 102 50,598 1,959 50,598 li 858 858 249,524 TOTAL RECEIPTS 109,092 87,371 196,463 629,492 PAYMENTS Raising Funds Charitable Activities 791 104,131 791 139,186 746 145,387 35,055 TOTAL PAYMENTS 104,922 35,055 139,977 146,133 NET RECEIPTS/(PAYMENTS) Transfers Between Funds 4,170 1105,0821 52,316 105,082 56,486 483,359 Net Movement in Funds {100,9121 157,398 56,486 483,359 Reconciliation of fund5'. i oiai punas Brougni porward Total Funds Carried Forward 3,o30,ik9u 3,987,888 3,98o,bi4 4,045,120 s,sui,214 3,988,634 57,232
GLENWHERRY CONGREGATiON OF THE PRESBYfERIAN CHURCH IN IRELAND BALANCE SHEET AS AT 31 DECEMBER 2024 NOTES UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2024 TOTAL FUN05 2023 FIXED ASSETS Tangible Assets Investments io li 4,047,741 25,060 4,047,741 25,060 3,547,741 24,202 TOTAI FIXED ASSETS 4,072,801 4.072,801 3,571,943 CURRENT ASSETS Debtor5 Cash at Bank and In Hand 12 13 20,899 38,114 1.662 48,025 22,561 86.139 47,952 370,439 TOTAL CURRENT A55ETS 59,013 49,687 108,700 418.391 LIA81LITIES Creditors.. Amounts falling due within one year Creditors: Amounts falling due over one year 14 1,781 29.800 31.581 1,700 104,800 104,800 NET CURRENT ASS5 57,232 184,9131 127,6811 416,691 TOTAL NET ASSETS 57.232 3,987,888 4,045,120 3,988,634 FUNDS OF THE CHARITY Unrestricted Funds Restricted Funds 15 15 57,232 57,232 3.987.888 158,144 3.830,490 3,987.888 TOTALCHARITY FUNDS 57.232 3,987,888 4.045.120 3,988,634 Approved by the Kirk Session at a meeting on 27J4l2 and signed on Its behalf by.. Rev T Kane Mr G McKane Dated .. Dated .. io
GLENWHERRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 ACiuUI4 1 iiNu YGiiiicS Basis of Financial Statements The financial statements have been prepared in accordance with Accounting and Reporting bv Charities.'Statements of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting standard applicable in the UK and Ireland IFRS1021 jeTfective l January £0151. The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all tran5action5, 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. Fund Accounting Restricted funds comprise revenue donation5 or grants for a specific congregational activity intended by the donor. Where these funds have unspent balance, interest on their pooled investment is apportioned to the individual funds on an average basis. Unrestricted fun(S5 are income funds which are to be spent on the congregation's general purposes. Designated funds are general funds set aside by the congregation for use in the future. Income Resources Reco nition of incomin resources Thpsp arp iD.clLIArJrl ip. thp ÉtatFam.en.t o! Fjp.an.cial Activities (SnF.Ql .. 4en: the congregation becomes entitled to the resources; the trustees are vi rtually certai n they will receive the resources; and the monetary value can be measured with sufficient reliably. Incomin resources with related ex enditure Resources and related expenditure are reported gross in the SOFA. 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 ifts Incoming resources from tax reclaims are included in the SOFA atthe Same time as the Eift to which they relate. li
ACCOUNTING POLICIES- CONT'D Ivl Contractual Income and erformance related rants This is only Included in the SOFA once the related good5 ar servlces have been delivered. Volunteer hel Thp iialLlP nf .Jr).v lioliint&rv b.olp rorojilpA l< not in_cluded in thp arcniint¢ but is de5rribcjA lry tb.e trustees, annual report. Expenditure and Liabilties reco nition Liabilities are recogni5ed as soon as there 15 a legal or constructive obligation committing the congregation to pzy out resources. Governance costt These are shown within charitable activitie5 and include the costs of preparation and examination of accounts. the cost5 of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Grants with erformance conditions Where the charity give5 a grant with condition5 for its payment being 3 specific level of servlce or output to be provided, such grants are only recogni5ed in the SOFA once the recipient of the grant has provided the specified Service or output. Ixl Grants able without erformance conditions These are only recognised in the èccounts when a commltment has been made and there are no conditions to be mel relaling lo Il)e granl which ren)ain In the control ol tne charity. Tan ible fixed as5et5 Tangible fixed asset5 for use by charity are capitalised if they can be used for more than one vear, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt. Interest Free Loan An interest free loan of £177,000 was made to the Church during the year to help acquire land adjacent to it. As of 31 December 2024, repayments of £42,4LIO have been made in Ilne with the terms and conditions of the donors, leaving an outStaning balance of £134,600. 12
GLENWHERRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 DuilAI IONS & itliHiiEi UNRESTRICTED RESTRICTED FUNDS TOTAL 2024 TOTAL 2023 Recorded Giving Loose Colleciions Donations and Gifts Gift Aid Legacies and Bequests 88,760 11,349 478 4,530 1,603 100,109 ,517 5,524 15,516 91,582 2,736 7,438 59,856 2,221 994 13,913 105,706 17,960 123,666 163,833 CHARITABLE ACTIVITIES UNRESTRICTED RESTRICTED FUNDS FUNDS TOTAL 2024 TOTAL 2023 Organisation Income undrai5ing tvenis Funerals Grants 1,529 7,846 2,120 5,000 2,887 9,375 2,120 5,000 2,887 12,002 2,125 4,000 1,529 17,853 19,382 18,127 INVESTMENTS UNRESTRICTED RESTRicfED FUNDS TOTAL 2024 TOTAL 2023 Deposit Interest iiives iiiietit ItiLvlTI¥ Other I nterest 601 599 657 102 703 909 657 572 1,857 102 1,959 1,953 OTHER INCOIIAE UNRESTRicfED RESTRICTED FUNDS FUNDS TOTAL 2024 TOTAL 2023 Land and Hen House Rent Property Fund 7,823 42,775 7,823 42,775 196,055 50,598 50,598 196,055 13
GLENWHERRY CONGREGATION OF THE PRESBERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 RAISING FUNDS UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL 202A TOTAL 2023 FWO Envelopes 791 791 746 791 791 746 CHARITABLE ACTIVITIES UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL 2024 TOTAL 2023 General Assemblv Assessments Presb¥itpry Fees Ministry & Support Staff Costs Congregational Running ExDenses Donations to Missions & Charities Governance C05t5 16,754 386 16,754 386 16,383 356 48,014 48,014 45,457 29,017 34,680 63.697 72,551 8,460 375 8,835 9,320 1,320 104,131 35,055 139,186 145,387 EMPLOYEES Em ment costs TOTAL TOTAL FUNDS 2024 FUNDS 2023 Wages, salaries and expense allowance Social security costs Pension contributions 43,395 4,619 41,047 4,410 56,543 53,580 Numbor of emolovees The average number of employees. including the minister of the con8re8ation, during the year was.. ?0? 2022 Average number of employees There were no employee5 in receipt of employee benef its in excess of £60,000. 14
GLENWHERRY CONGREGATION OF THI PRESBYTERIAN CHUFICH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 PEN510N COSTS The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme120091. This is a scheme operated by the Presbyterian church in Ireland, a separate registered charity- The conEregation pay5 an assessment to the Presbyterian Church in Ireland equivalent to the employer'5 pension contribution for the Scheme and based on the stipend paid to the minster. The Presbyterian Church in Ireland Pension Scheme120091 is a funded scheme of the defined benefit type, providing defined benefits based on career average revalued salary. The Scheme has assets held in a separately administered fund managed by 3 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 wherebv the Presbyterian Church agreed to pay from 31 December 2015 contributions of 240A of pensionable salaries to cover the accrual or beneTlts for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit. The contributions made by the congregation during the year were.. TOTAL FUNDS 2024 TOTAL FUNDS 2023 Contribution5 8,529 8,123 15
GLENWHERRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 IANGloii trliitu AJ)t i ) BUILDINGS FIXTURES FITTINGS & EQUIPMENT TOTAL COiT ON VALUA I iui At start of year Additions Disposals Reval uation 3,547,741 500,000 3,547,741 500,000 At end of year 4,047,741 4,047,741 DEPRECIATION At start of year Provision for yea r Disposals Iiu yi NET BOOK VALUE At start of year 3,547,741 3,547,741 At end of year 4.047,741 4,047,741 16
GLENWHERRY CONGREGATION OF THE pREs8ERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 li INVESTMENTS The congregation has the following inve5tment5. Amounts are shown at market valuation.. 2024 2023 PCI Shares General Investment Fund 25,060 25,060 24,202 24.202 12 DEBTORS UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Gift Aid Recoverable Prepayment5 FWO 15,304 5,535 60 1,662 16,966 5.535 60 43,888 3,964 IDO 20.899 1,662 22,561 47,952 13 CASH AT BANK AND IN HAND UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Ban1( Current Accounts Bank Deposit Accounts Cash in Hand 18,536 19,578 47,826 66,362 19,578 199 292,146 78.ID3 190 199 38,114 48,025 86,139 370,439 14 CREDITORS: amounts falllng due withSn one year UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS Z023 Accriials Interest Free Loans 1,781 1,781 29,8DO 1.700 29,800 1,781 29,800 31.581 1,700 CREDITORS: amounts falllng due over one year UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL FUNDS TOTAL FUNDS Accruals Interest Free Loans 104,800 104,800 104.800 104,800 17
GLENWHERRY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCQUNTS 31 DECEMBER 2024 15 FUND BALANCES AND RECONCILIATION OF FUNDS FUND BALANCE RECEIPTS PAYMENTS TRANSFER SURPLUS/ BALANCE AT START DEFICIT AT END Unrestricted funds ro 109,092 04,922 1105,0° Idono121 158,144 109,092 104,922 1105,0821 1100,9121 57,232 Restricted funds Building & Repair Fund Presbyterian Women Pvv idLei-ii i Boys, Brigade Sunday School Laos Account Girls, Brigade Property Fund Buildings Dri Ini'estmnnt Ci Interest Free Loan 24,245 449 71,376 3,412 13.639 3,070 141,6401 16,097 342 40,342 791 8D9 2,038 1,165 3,501 981 4.056 1,140 3,442 449 223,628 3,547,741 24,201 1,270 767 59 5.438 742 2,150 12,0181 25 59 2,800 532 1223,628) 1223.6281 500,000 500,000 4,047,741 25.060 1134.6001 1134,6001 1134,6001 7,494 9,762 858 3,830,490 87,371 35,055 105,082 157,398 3,987,888 Total 3,988.634 196,463 139,977 56,486 4,045,120 18
GLENWHERRY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 16 Lu I Y i K14iNiiii i IOINS One of the trustees, the minister of the congregation received remuneration of £35,538 and expenses of £7,036 for acting in that capacity. Pension contributions of £8,529 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme12009). None of the other trustees received any remuneration or expenses during the year in connection with their duties. During the year the congregation contributed the following amounts to Funds of the General Assembly of the P resbyterian Church in Ireland a separate charity. £64,768 for congregational assessments £7,340 towards the United Appeal There were no other related party transactions. 19