Presbyter an CLOUGHWATER CONGREGATION OFTHE PRESBYfERIAN CHURCH IN IRELAND TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5t 31 DECEMBER 2024
an HWATER CONGREGATION OF THE PRESBYTERIAN LAND Year Ended 31 December 2024 CONTENTS PAGE Trustees, Report Auditors, Report 9-11 Statement of Financial Activity 12 Balance Sheet 13 statement of Cash Flows 14 Notes to the Financial Statements 15-24
an CLOUGHWATER CON GATION OF THE pREsBERIAN RELAND TRUSTEES. ANNUAL REPORT The Trustees of Cloughwater Congregation of the Presbyterian Church in Ireland present their Annual Report and Financial ststements for the year ended 31st December 2024 including a balance sheet as at that date. REFERENCE AND ADMINSTRATIVE DETAILS Cloughwater Congregation of the Presbyterian Church in Ireland, 125 Cloughwater Road, Ballymena, BT43 6QR Registered Charity in Northern Ireland (NIC105373) CHARITY TRUSTEES The Charity Trustees who served during the year or who were trustees at the date of this report were.. Rev Alistair Mccracken Mr lan Brown Mr Ivan Davison Mr David Galbraith Mr Andrew Mauger Mr William McKeown (Elder Emerltus March 2024) Mr Edward Montgomery Mr Stephen Porter Mr Robert Simpson (Died December 2024) Mr Stephen Simpson PRINCIPAL OFFICE BEARERS Minister Clerk of Session Treasurer Rev Alistair Mccracken Mr Ian Brown Mr Ian Brown AUDITOR Mr Edwin McLaughlin, Senior Statutory Auditor, D T Carson & Co, Chartered Accountants, 51-53 Thoma5 Street, Ballymena, BT43 6AZ BANKERS Danske Bank , 1-2 Broadwayi Ballymena, BT43 7AA
an HWATE EGATION OF THE ERIAN H IN IRELAND TRUSTEES, ANNUAL REPORT- CONT'D srRUCTURE 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 propety 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 in January, March, May, September and November. To be chosen for the office of the eldership in the congregation a person must be a voting member and a regular attendant on 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 the votes of tMo-third5 of those who vote. Presbytery Under the Presbyterian Church in Ireland form of governance the corporate oversight of a congregation 15 the responsibility of a Presbytery which superintends generally the spiritual and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterian Church in Ireland. Cloughwater congregation of the 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 congregation5 a55igned to it by the General Assembly, ministers who have retired from active duty and an elder appointed by each of the Kirk Sessions of the congregations. 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, administrative and judicial authority, in dealing with all matters brought before it. The General Assembly is normally constituted during a week in June for worship and to conduct its business. At the end of business it is dissolved. The membership of the General Assembly consists mainly of the active ministers of each congregation, retired ministers and a representative elder appointed by the Kirk Session of each congregation.
an UGHWATER CONGREGATION OF THE PRESBERIA H IN IRELAND TRusfEES' ANNUAL REPORT- CONT'D DESCRIPTION AND PURPOSE The charitable purpose of the congregation is the advanment of religion. Cloughwater 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 our members to play their part in fulfilling God's mission to our world. Just as, Man's chief end is to glorify God and enjoy Him forever" we believe this is our purpose as a congregation. We are "A chosen people, a royal priesthood, a holy nation, a people belonging to God, that you (we) may declare the praises of him who called you (us) out of darkness into his wonderful light., (I Peter 2.9) We take from the catechism and this verse that we are to be engaged in worship as we glorify and praise God together; in proclamation, as we declare the word of Godlgospel within and outside the congregation, at home and abroad. in fellowship, living, serving and growing together in grace and in knowledge of our Lord and Saviour Jesus Christ" ACTIVITIES AND OBJECTIVES The congregation meets for worship every Sunday and visitors are welcome to join. The Sacrament of the Lord's Supper is observed on three occasions during the year and 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. The congregation holds regular bible study meetings and has a wide range of organisations including: Afternoon Fellowship Girls, Brigade Flame / Fuel Praise Group Creche Kids Club Presbyterian Women Boys, Brigade Ignite (19-30's) Sunday School Men at Cloughwater Tea & Tots ACHIEVEMENTS AND PERFORMANCE Worship and prayer The congregation normally meets for worship each Sunday at 11.30 am (llam July & August) and 7pm September to June 5t (l and 3rd Sundays). Creche is provided for pre-school children during morning worship and other children up to the age of eight leaving the main church during the service for kids club. During the week the Midweek Prayer and Bible Study provides an opportunity for members to meet together for fellowship, to study the scriptures and for a time of prayer. We give thanks for faithfully attended services throughout the year. At 31st December 2024 there were 147 communicant members with one new member enrolled during the year and 158 families connected with the congregation. The average attendance at morning worship was 120 and 40 at the evening servi.
an CLOUGHWATER EGATION OF THE PRE BE RC IN IRELAND TRUSTEES, ANNUAL REPORT- CONT'D Pastoral care Members of the congregation are visited by the minister and elders throughout the year, whenever this was unable to be carried out, telephone communication was utilised throughout the year. Those who are sick, the elderlyi the bereaved and those facing difficult circumStanS are given special attention through visits and the provision of support, frlendship and prayer. A Care Team is established to visit those members of the congregation in h05Pital or residentiallnursing homes, aiming to show the concern of the church and to share sensitively the gospel message. The Care Team also provides practical care to those at times of specific need includingi for example, visitation of new mothers. Mission and outreach At a local level the congregation seeks to reach out to the surrounding community with the Good News of the gospel. The congregation is connected with two neighbouring Primary schools (Clough & Kirkinriola) and our minister regularly attended the schools to conduct worship at morning assembly from the start of the academic year in September 2024. There is a missionary committee within the congregation who together organise support for mission at home and abroad, providing updateslinformation on our mission partners and the work they are involved in across the globe. Dedicated missionary fund by the congregation help provide charitable donations to a number of mission organisations such as, Compassion, Hamsayeh International, Pioneers, Wycliffe Bible Translation, Calvary Mission, Scripture Union Projects, Faith Mission, Christians Against Poverty and Release International. The congregation also supports the United Appeal for Mi55ion which is a ntral fund of the Presbyterian Church in Ireland. This fund enables congregations to support the wider mission of the denomination and to do mission and outreach on a denominational basis beyond whatthe 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 plantingi 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 congregation in the areas of worshipi discipleship, global mission, outreach, leadership and pastoral care. The congregation also contributes to the denominations annual World Development Appeal and any other special appeals throughout the year. Presbytery The congregation was represented at the regular meetings of Presbytery by our minister and one of the elders. This provides an important link beleen the congregation and the wider structures of the church. Property The congregation ensures that the church property is kept in good condition and all work is overseen by the church committee.
an CLOUGHWATER CONGRE ATI E PRESBYfERIAN C URCH I IRELAND TRUSTEES. ANNUAL REPORT- CONT'D Organisations Boys, Brigade The object of 1st Cloughwater BB is the advancement of Chrlst's kingdom among boys and the promotion of habits of obedience, reverence, discipline, self-respect and all that tends towards a true Christian manliness. We meet on Monday nights between September and March and there are 3 sections - Anchor Boys, Junior Section and Company Section. This year the bible class topic was the Beatitudes and the boys learned the eight blessings given by Jesus during the Sermon on the Mount, explaining that each Beatitude describes a charatter attitude and a promise of blessing to those people who possess it. Along with the bible class the boys enjoy craft activities, cookinglbaking and of course games during the Monday nights. In the middle of March the annual parents night was held where parents and friends of the boys come along to see some of the activities the boys enjoy as part of isr Cloughwater BB company. Girls, Brigade There are 45 girls (aged 3 to 18 years) registered in our GB Company. There are 7 Commissioned Officers, 6 Associate Leaders and 2 Sub Officers leading our Company. We meet on Thursday evenings from mid-september until the end of March. Throughout the year we have succeeded in having a varied badgework programme for all sections covering Spiritual, Educational, SeNice and Physical aspects. Each night we follow the GBNI Scripture course in all sections and this year this was entitled "We Believe" All sections enjoyed activities and crafts based on Ulster Wildlife. This included a visit from the"Wee Critters" and an outing to Broughshane Wild Fowl Pond. Various crafts such as making bird feeders, bug hotels and bird houses were undertaken. Team games were played by Explorers and Juniors who also entered our District Team Games competition. Our Juniors and Senior5 & Brigaders also learned how to line dance. The Duke of Edinburgh Award scheme continues to run in our Company with 2 girls working for the Bronze level and I working towards Gold level. Attendance has been very good throughout the year. FLAME (Youth Fellowship) FLAME meets fortnlghtly for young people aged 11 to 18 years old. An average of 15 young people attend and enjoy a mix of food, games and Bible Study together. This year at a number of our meetings we focused on "Going Deeper" in topics such as prayer, worshipi mission, Easter and God. The young people enjoyed a wide variety of attivities including pizzas nights, Beach Banter at Castler¢xk and a night out at scrapyard golf. A number of guest speakers came along throughout the year to help the members thlnk about what the Bible says about certsin topics, how to Ilve a Christian life and share faith with others. Sunday School Sunday School normally meet each Sunday morning from 10:30 to 11:15 running from September to June. There are 52 children registered ranging from age 4 to 17 with 8 teachers spread out across each class group. The teachers follow "Go Teach" literature during each class and the children also learn catechisms and memory verses.
an LOUG WATER CONGRE ATI OF THE PRESBYfERIAN CHURCH IN IREL4ND TRU¥fEES' ANNUAL REPORT- CONT'D Presbyterian Women The Cloughwater Ladies group meet on a Tuesday eveningi On a month from September through to May with approximately 30 ladies attending each meeting. We have followed the PW theme of "Entrusted" this year and at each meeting we have had a devotional time based on this theme. Throughout the year we have had an Ulster Scots night, a Christmas craft night, a meal out together and a fund-raiser for Alzheimerfs Society. We also have had visiting speakers with topics which included Safe Families, A Year in the Moderator's life and Hope 365. In Ottober we had a "Soup in a Mug" event when we raised funds for our local foodbank. In January we had a Bible reading challenge when ladies focused on reading the Gospel of Luke, our annual Church Servi also took place in January. We also organised a second hand clothes collettion for Hope365. Throughout the year we have enjoyed great fellowship as we continue to follow our PW motto "Living for Jesus" Volunteers The Trustees wish to acknowledge their deep appreciation of those who give freely of their tlme by seNing on committees and helping with organisations and other church attivities. 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) leading to 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 facilitsted through presbyteries or are organi5ed and delivered centrally. Local delivery is facilitsted by central resources in almost all cases. Public access is made known through the use of noticeboards, printed materiali 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. The purpose does not lead to harm. The only private benefit flowing from our purpose is related to Mlni5ters, Missionaries, Deaconesses, Irish Mission worker5 and Lay Agents who receive benefits as a result of their holding offfice or employment. However, this is incidentsl and necessary in order to further our charitable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families, other individuals that the P$byterlan Church in Ireland is in direct and indirect contact with, the community in which pastoral ServIS 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 Charity Commissions Public benefit requirement statutory guidance.
an CLOUGHWAT R CONGREGATI THE PRESBYfERIAN ELAND TRusfEES' ANNUAL REPORT- CONT'D FINANCIAL REVIEW The congregation's main Sour of income is members, contributions through the Weekly Freewill Offering. There were 124 contributing families during the year [124 in 2023] donating a total of £58,373 [£59,861 in 2023] Total Income of the congregation during the year was £637,555 compared to £130,617 in the previous year. The main reason for thi5 substantial increase was the receipt of a legaq of £500,000. Total expenditure (including that of organisations) was £140,548 compared to £141,496 in 2023. TRUSTEES, RESPONSIBILITIES IN RESPECT OF FINANCIAL sfATEMENTS 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. 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 any time its financial position and enable them to ensure that the financial statements comply with the Statement of Recommended Practi "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 detettion of fraud and other irregularities. GOING CONCERN The attivities of the congregation are dependent on ongoing contributions from its members. The Trustees are of the opinion that the congregation has sufficient resour5 at the date of approval of these financial statements to meet commitments which will arise in the year from the date of signing this report and subject to the continuing support from members to fund on an ongoing basis the congregation's current activities and other financial commitments. RESERVES POLICY The Trustees have considered the level of unrestricted reserves that it is appropriate to hold tsking account of current and ongoing commitments. It is the aim of the Trustees to hold unrestricted reserves equating to at least three month's normal expenditure. At the year end unrestricted reserves were £550,107 which is well in keeping with this policy. The Trustees consider it prudent to hold reserves at this level as the funding of its present activities is dependent of the ongoing financial support of members.
an TER CONGREG TION OF THE PRESB N CHURCH IN IRELAND TRUSTEES, ANNUAL REPORT- CONT'D 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 ongoing financial support from members. These risks 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 27th May 2025 and slgned on its behalf by: Mr Ian Brown (Clerk of Session) Mr Stephen Porter (Trustee)
an GHWATER CONGREGATION OF E PRESBYfERIAN H IN IRELAN INDEPENDENT AUDITOR'S REPORT TO THE TRusfEES OF CLOUGHWATER CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND Opinlon We have audited the financial statements of Cloughwater Congregation of the Presbyterian Church in Ireland (the 'charity') for the year ended 31 December 2024, which comprise the statement of financial activities, ststement of financial position, statement of cash flows and notes to the financial statements including a summary of significant accounting policies. The financial reporting framework that has been applied in their presentstion is applicable law and United Kingdom Accounting Standards, including Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Prattice). In our opinion the financial statements give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming reSoUrS and application of resources for the year then ended, have been properly prepared in accordantr with United Kingdom Generally Accepted Accounting Practice have been prepared in accordance with the requirements of the Charities Act (Northern Ireland) 2022. 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 relevant to 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 collettively, that may cast significant doubt about the charity's ability to continue to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue. other information The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. 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.
an LOUG WATER CONGRE ATI ESBrrERIAN CHURCH IN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CLOUGHWATER CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND other information (cont'd) 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 financlal 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 misststement of the other information. If, based on the work we have perfomed, we conclude that there is a material misstatement of this other information, we are required to report that fatt. We have nothing to report in thls regard. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charity and Its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respett of the following matters in relation to which the Charities Act (Northern Iland) 2022 requires us to report to you if, in our opinion: the information given in the trustees, report is inconsistent in any material respect wlth the financial statements. or adequate accounting records have not been kept; or the financial statements are not in agreement with the accounting records and returns. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Trustees, Responsibilities Ststement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give 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 charity's ability to continue as a going concern, disclosingi as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to ase operations, or have no realistic alternative but to do so. Auditors, responsibilities for the audit 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 accordantr with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expetted to influence the economic decisions of users taken on the basis of these financial statements. 10
an TER CONGRE ATION OF ThE PRESBYfERIAN CHUR H IN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CLOUGHWATER CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND Auditors, responsibilities for the audit of the financial statements (cont'd) Irregularities, including fraud, are instances of non-complian 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 discussion with the trustees, and from our own knowledge and experien of the charitable sector. We focused on specific laws and regulations which we considered may have a dirett material effect on the financial ststements or the operations of the charity, including the Charities Act and related legislation while also giving consideration to data protection regulations and the safeguarding of charitable funds. the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilitie5 and skills to identify or recognise non-complian with applicable laws and regulations and the team remained alert to instances of non-compliance throughout the audit; we assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of attual, suspected and alleged fraud. and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. to address the risk of fraud through management bias and override of controls we performed analytical procedures to identify any unusual or unexpected relationships evaluated the rationale behind any significant or unusual transactions in response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to agreeing financial statement disclosures to underlying supporting documentstion. reading minutes of meetings of those charged with governantr; reviewing regulatory correspondence. enquiring of management as to actual and potential litigation and claims. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: http:Ilwww.frc.org.uk/auditorsresponsibilitie5. This description forms part of our auditor's report. Purpose of our audit work and to whom we owe our responsibilities This report is made solely to the charity s trustees, as a body, in accordan with Part 4 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Our audit work has been undertaken so that we might State to the charity's trustees those matters we are required to state to them in an auditor's 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 trustees as a bodyi for our audit work, for this report, or for the opinions we have formed. MrE cLaughlin F (Senior Ststutory Auditor) For and on behalf of: D T Carson & Co, Chartered Accountants and Registered Auditors 51-53 Thomas Street BALLYMENA, BT43 6AZ Date: 27th May 2025 11
an LO HWA ER RE AT[ F THE PRE ERIAN ND srATEMENT OF FINANCIAL ACTIVITY FOR YEAR ENDED 31 DECEMBER 2024 UNREsfRICTED REsfRIcfED FUNDS FUNDS TOTAL 2024 TOTAL 2023 Income and endowments from Donations and legacies Charitable activities Investments Other income Total 585,425 1,117 4,013 70 590,625 27,728 19,202 613,153 20,319 4,013 70 637,555 114,046 16,379 124 68 130,617 46,930 Expenditure on: Raising funds Charitable activities other expenditure Total 586 89,154 586 139,962 586 140,910 50,808 89,740 50,808 140,548 141,496 Net income/(expenditure) Transfers beleen funds Net movement in funds 500,885 305 501,190 (3,878) (305) (4,183) 497,007 (10,879) 497,007 (10,879) Reconciliation of fvnds: Totsl funds brought forward 16 48,917 230,821 279,738 290,617 Total funds carried forward 16 550,107 226,638 776,745 279,738 12
an HW RE ATI F THE PRE BALANCE SHEEr AS AT 31 DECEMBER 2024 NOTES UNRESTRIcfED FUNDS REsfRIcfED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 FIXED ASSErs Tangible assets Total fixed assets 12 187,921 187,921 187,921 187,921 192,097 192,097 CURRENT ASSETS Debtors Cash at bank and in hand Total current assets 13 14 20,215 531,742 551,957 3,787 34,930 38,717 24,002 566,672 590,674 21,374 67,797 89,171 CURRENT LIABILMES Creditors: amounts falling due within one year 15 (1,850) (1,850) (1,530) Net current assets 550,107 38,717 588,824 87,641 Total net assets 550,107 226,638 776,745 279,738 FUNDS OF THE CHARITY Unrestritted funds Restricted funds 16 16 550,107 550,107 226,638 48,917 230,821 226,638 Total charity funds 550,107 226,638 776,745 279,738 Approved by the Kirk Session at a meeting on 27th May 2025 and signed on its behalf by Mr Ian Brown (Clerk of Session) ephen Porter (Trustee) 13
Presbyter an WATER ON ON F THE PRE BYfE IA STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES 2024 2023 Net incomel(expenditure) 497,007 (10,879) Adjustments to reconcile net income/(expenditure) to net cash flows from operating activites Depreciation of tangible fixed assets Net finance costs (Increase)Idecrease in investments (Increase)Idecrease in debtors Increasel(decrease) In creditors 12 4,176 (4,013) 4,176 (124) (2,628) 320 1,484 1,103 Net cash inflow from operating activites 494,862 (4,240) Cash flows from investing activities Interest reiVed Payments to acquire tsngible fixed assets 4,013 124 Net cash inflow from Investing activities 4,013 124 Financing activities Interest paid Net cash infowl(outflow) from financing activites Net increasel{decrease) in cash and cash equivalents 498,875 (4,116) Cash and cash equivalents at l January 67,797 71,913 Cash and cash equivalents at 31 December 14 566,672 67,797 14
an GHWATER NG EG F THE PRESBYfERIAN CHURCH IN IR NOTES TO THE ACCOUNTS 31 DECEMBER 2024 ACCOUNTING POLICIES The principal accounting plicies adopted, judgements and key SoUrS of estimation in the preparation of the financial statements are as follows: BASIS OF FINANCIAL STATEMENTS The financial statements have been prepared in accordan with Accounting and Reporting by Charities:Statements of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland (FRS102) (effettive l January 2015). 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 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 bodyi nor those that are informal gatherings of church members. PREPARATION OF ACCOUNTS ON A GOING CONCERN BASIS Cloughwater Congregation of the Presbyterian Church in Ireland has prepared the accounts on a going concern basis. The balance sheet is strong with continued support by members. FUND ACCOUNTING Restricted funds comprise revenue donations 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 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 Reco nition of incomin These are included in the Statement of Flnancial Activities (SOFA) when: the congregation becomes entitled to the resources. the trustees are virtually certain they will re1ve the resources; and the monetary value can be measured with sufficient reliably. (i) resources (li) Incomin resources with related ex enditure Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. 15
an CLOUGHWA ON REGATION OF E PRESBrfERI HURCH IN ELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 ACCOUNTING POLICIES - CONT'D (iii) Grants and donations Grants and donations are only Included in the SOFA when the congregation has unconditional entitlement to the reSoUrs. (iv) onations and Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. (v) ntr ome and erformance r ed rants Thi5 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 reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for use by the charity are included in the SOFA as incoming resources when re1Vable. (vii) Donated servi5 and facil't. 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 seNice or faciliity received. The value of any voluntary help reiVed 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 EXPENDITURE AND LIABILrnES Liabili reco nition Liabilities are recognised as soon as there is a legal or construttive obligation committing the congregation to pay out resources. (x) (xi) Gover ance cos 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. 16
an GHWA GREGATION OF THE PRESBrrERI IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 ACCOUNTING POLICIES - CONT'D (xii) ants with erfOrMan conditions Where the charity gives a grant with conditions for its payment being a specific level of SeiCe or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified Servi or output. (xiii) nts able without rfomance 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 Tan ible fixe Items of propety, fixtures and equipment are capitalised if they can be used for more than one year, and cost at least £5,000. They are valued at cost or, if gifted, at the value to the charity on receipt. 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 expetted useful life as follows: Buildings Fixtures, fittings and equipment over 50 years over 10 years 17
Presbyter an CLOUGHWATER CONGRE ATI ELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 DONATIONS AND LEGACIES UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Recorded giving Loose collections Donations and gifts Gift aid Legacies and bequests 69,383 1,369 1,261 13,412 500,000 585,425 23,806 93,189 1,369 1,396 17,199 500,000 613,153 90,650 1,438 1,452 18,506 2,000 114,046 135 3,787 27,728 CHARITABLE ACTIVITIES UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Organi5ation income Sale of study books etc Income from church events Miscellaneous income Grants 19,202 19,202 817 13,825 754 817 300 300 1,800 1,117 19,202 20,319 16,379 INVESTMENTS UNRESTRICTED FUNDS RESTRIcfED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Bank Interest Deposlt interest other investment income 271 3,742 271 3,742 124 4,013 4,013 124 18
Presbyter an WATER CONGREGATION F THE PRESBYfERIAN HURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 OTHER INCOME UNRESTIUCTED RESTiucfED FUNDS FUNDS TOTAL FUNDS TOTAL FUNDS Other income 70 70 70 70 68 68 RAISING FUNDS UNRESTRICTED RESTRICTED FUNDS FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 FWO envelopes 586 586 586 586 586 586 CHARrrABLE ACTIVITIES UNRESTRICTED RESTRICTED FUNDS FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 General assembly assessments p$bytery fees Ministry and support staff costs Congregational running expenses Donations to missions and charities Depreciation Governance costs 9,619 352 9,619 352 7,385 322 57,211 57,211 54,779 20,772 26,194 46,966 57,528 20,438 4,176 20,438 4,176 1,200 139,962 16,720 4,176 1,200 89,154 50,808 140,910 19
an CLOUGHWATER CO EGATION OF THE PREsBERlAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 OTHER EXPENDITURE UNRESTRICTED RESTRICTED FUNDS FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Sundry TRANSFERS BETWEEN FUNDS Unrestritted funds are spent or applied at the discretion of the trustees to futher any of the charity's purposes. Unrestricted funds may be used to supplement expenditure made from restritted funds. io EMPLOYEES Number of lo ees The church had no employees during the year (2023: none) The minister of the congregation is an employee of the Presbyterian Church in Ireland, which is a separate charity and they have not been refletted in the employee costs and average number of employees above. The congregation pays an assessment to the Presbyterian Church in Ireland for the minister. The following amounts were paid during the year 2024 2023 Minister stipend 32,439 30,762 20
an WATER CONGRE ATI PRESBYfERIAN CHURCH IN IRELAND NOTESTO THE ACCOUNTS 31 DECEMBER 2024 li PENSION COSTS The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009). 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 minster. The Presbyterian Church in Ireland Pension Scheme (2009) is a funded scheme of the defined benefit typei providing defined benefits based on career average revalued 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 salarie5 to cover the accrual of benefits for future service, expenses, the cost of insuring death in Servi benefits and funding the scheme deficit. The contributions made by the congregation during the year were: 2024 2023 Contributions 7,785 7,383 21
an CLOUGHWATER EGATION OF THE PRESBrfERIAN HUR H IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 12 TANGIBLE FIXED ASSETS BUILDINGS AND CONTENTS FIKfuRES, FIThINGS & EQUIPMENT MANSE TOTAL COST OR VALUATION At l January 2024 Additions Dlsposals 3,011,523 208,802 3,220,325 At 31 December 2024 3,011,523 208,802 3,220,325 DEPRECIATION At l January 2024 Provision for year Disposals 3,011,523 16,705 4,176 3,028,228 4,176 At 31 Detrmber 2024 3,011,523 20,881 3,032,404 NET BOOK VALUE At 31 Dember 2024 187,921 187,921 At 31 Dember 2023 192,097 192,097 22
an CLOUGHWATER CON TION OF ThE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 13 DEBTORS UNRESTRicfED FUNDS REsfRICTED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Gift Aid Recoverable Prepayments and accrued income Sundry debtors 12,758 7,457 3,787 16,545 7,457 17,867 3,507 20,215 3,787 24,002 21,374 14 CASH AT BANK AND IN HAND UNRESTRICTED FUNDS RESTRIcfED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Bank and cash Bank deposit accounts 31,742 500,000 531,742 34,930 66,672 500,000 566,672 67,797 34,930 67,797 15 CREDITORS: amounts falling due within one year UNRESTRICTED FUNDS RESTRIcfED FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Accruals Sundry creditors 1,850 1,850 1,530 1,850 1,850 1,530 23
an CLOUGHWATER GREGATtON OF THE P IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 16 FUND BALANCES AND RECONCILIATION OF FUNDS Fund BALANCE AT srART INCOME EXPEND TRANSFER BALANCE AT END UNRESTRICTED FUNDS General account 48,917 590,625 (89,740) 305 550,107 48,917 590,625 (89,740) 305 550,107 REsfRIcfED FUNDS Property Missionary United Appeal Other Misslon Support Afternoon Fellowship Boys Brigade Girls Brigade Presbyterian Women 212,127 8,377 768 411 249 856 6,724 1,309 8,562 12,516 4,676 1,974 1,056 3,858 3,898 10,390 (17,115) (13,514) (4,853) (2,071) (818) (3,786) (3,635) (5,016) 203,574 7,379 886 314 387 878 6,737 6,483 295 (ioo) (50) (250) (200) 230,821 46,930 (50,808) (305) 226,638 TOTAL FUNDS 279,738 637,555 (140,548) 776,745 17 RELATED PARTY TRANSACTION One of the Trustees, the mlnister of the congregation received remuneration of £32,439 and expenses of £7,036 for acting in that capacity. Pension contributions of £7,785 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009). None of the other trustees received any remuneration or expenses dL5ring the year in connectlon with their duties. During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church In Ireland a *parate charity £9,619 for congregational assessments £4,853 towards the United Appeal £950 towards Orphans and Children Soclety £986 towards World Development Appeal The congregation contributed £352 towards Presbytery Assessments during the year. There were no other related party transaciions. 24
an Appendix (this appendix does not form part of the statutory financial statements) Envelope No. United Appeal World Development Chlldrens Mlssionary Soclety Fund FWO 150.00 50.00 600.00 70.00 Repalr Harvest 60.00 Gift Aid 50.00 loo.00 loo.00 loo.00 loo.00 50.00 20.00 100.00 312.50 480.00 30.00 1,220.00 250.00 270.00 1,200.00 230.00 207.00 50.00 50.00 40.00 40.00 120.00 155.00 40.00 250.00 loo.00 20.00 20.00 88.50 io 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 120.00 loo.00 80.00 180.00 322.50 68.75 20.00 50.00 780.00 300.00 loo.00 420.00 520.00 600.00 100.00 250.00 15.00 15.00 240.00 loo.00 478.75 20.00 660.00 20.00 5.00 720.00 720.00 600.00 20.00 2,710.00 iio.00 215.00 285.00 120.00 1,000.00 20.00 loo.00 20.00 60.00 511.25 121.25 300.00 200.00 120.00 400.00 400.00 125.00 500.00 300.00 175.00 200.00 200.00 240.00 517.50 427.50 343.75 40.00 40.00 10.00 20.00 100.00 10.00 641.25 50.00 10.00 10.00 iio.00 40.00 40.00 1,800.00 500.00 10.00 10.00 250.00 loo.00 200.00 40.00 300.00 240.00 612.50 235.00 555.00 140.00 loo.00 25.00 iio.00 20.00 175.00 52.00 260.00 1,225.00 250.00 30.00 20.00 300.00 20.00 20.00 12.00 10.00 10.00 10.00 31.25 410.00 260.00 40.00 20.00 440.00 610.00
Envelope No. 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 United World Chlldrens . Appeal Development Society Mlssion Fund FWO 460.00 485.00 450.00 255.00 Repalr Harvest loo.00 300.00 60.00 10.00 GiftAld 122.50 206.25 465.00 30.00 20.00 20,00 820.00 460.00 115.00 50.00 200,00 100.00 10.00 10.00 220.00 loo.00 32.50 370.00 150.00 43.75 170.00 20.00 530.00 120.00 520.00 120.00 96.00 525.00 80.00 150.00 80.00 25.00 10.00 25.00 5.00 198.75 90.00 loo.00 20.00 10.00 190.00 60.00 20.00 49.00 iio.00 600.00 120.00 200.00 120.00 20.00 10.00 60.00 290.00 50.00 260.00 330.00 310.00 645.00 285.00 loo.00 104.50 240.00 260.00 60.00 80.00 10.00 5.00 85.00 20.00 50.00 40.00 30.00 50.00 50.00 30.00 50.00 65.00 5,00 5.00 5.00 56.25 123.75 60.00 40.00 40.00 10.00 20.00 60.00 315.00 200.00 20.00 loo.00 140.00 loo.00 100.00 270.00 205.00 45.00
Presbyter an Envelope No. United World Chlldrens Appeal Development Society Misslon Fund FWO Repair Harvest GIftAld 89 530.00 90.00 60.00 90 91 92 93 94 95 96 97 98 99 loo ioi 102 103 104 105 106 107 108 109 iio iii 112 113 114 115 116 117 118 119 120 121 122 123 124 125 440.00 40.00 200.00 200.00 960,00 390.00 loo.00 720.00 5.00 50.00 40.00 120.00 240,00 200.00 150.00 20.00 loo.00 122.50 15.00 10.00 10,00 10.00 iio.00 loo.00 330.00 222.50 10.00 loo.00 207.50 1,200.00 255.00 720.00 450.00 loo.00 240.00 130.00 loo.00 140.00 40.00 30.00 loo.00 60.00 30.00 10.00 400.00 20.00 20.00 10.00 20.00 15.00 50.00 20.00 50.00 55.00 480.00 40.00 414.38 425.00 20.00 12.50 430.00 540.00 20.00 65.00 30.00 30.00 20.00 60.00 153.75 720.00 200.00 40.00 80.00 40.00 120.00 327.50 370,00 200.00 210.00 218.00 800.00 loo.00 150.00 50.00 30.00 370.00 252.50 28.75 67.50 20.00 30,00 40.00 20.00 120.00 1,200.00 470.00 600.00 250.00 loo.00 loo.00 60.00 30.00 200.00 161.25 152.50 100.00 230.00 126 127 128 129 130 131 132 50.00 60.00 60.00 10.00 70.00 144.38 500.00 iio.00 250.00 250.00 6.25 690.00 20.00 190.00 170.00 580.00 26.25
an Envelope No. Unlted World Chlldrens Appeal Development Soclety Mission Fund FWO Repair Harvest Gift Aid 133 134 500.00 i.100.00 1,000.00 162.50 135 126 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 160.00 1,640.00 40.00 150.00 240.00 250.00 20.00 180.00 597.50 280.00 160.00 20.00 120.00 200.00 20.00 87.50 265.00 10.00 2.080.00 2.470.00 505.00 215.00 1,200.00 100.00 1,070.00 300.00 115.00 50.00 400.00 20.00 75.00 300.00 loo.00 20.00 600.00 iio.00 1.017.50 787.50 20.00 312.50 10.00 1,000.00 240.00 120.00 50.00 50.00 270.00 808.75 30.00 175.00 i.ioo.00 75.00 40.00 250.00 66.25 300.00 64.00 1.85 43.75 1.00 2.50 150.00 600.00 260.00 iio.00 300.00 75.00 375.00 63.00 600.00 75.00 50.00 20.00 75.10 550.00 395.00 100.00 40.00 10.00 187.50 121.25 150.00 300.00 80.00 loo.00 20.00 112.50
an Envelope No. Unlted World Appeal Development Childrens Society Mission Fund FWO Repair Harvest Gift Ai(1 177 178 179 180 181 182 183 184 185 186 187 188 189 190 90.00 360.00 10.00 320.00 200.00 220.00 155.00 20.00 50.00 50.00 129.75 254.25 10.00 10.00 80.00 45.00 260.00 205.00 50.00 50.00 92.50 10.00 10.00 loo.00 530.00 40.00 Anonymous 20.00