an MAGHERAMASON CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND Trustees Annual Report and Financial Statements For the year ended 31 December 2024 Registered Charity iii Northern Ireland INIC105376)
an MAGHERAMASON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF F.INANCIAL AcfiviTY (Receipts and Payments Account) for the year ended 31 Drnber 2024 Note Unrestricted Funds Restricted Endowment Total 2024 Total 2023 Funds Funds Receipts Donations and legacies Charitable activities Other trading activities Investment Income Other 91,061 1322 102 3,105 402 34,783 8,030 125,844 9,352 102 3,245 2,919 120,172 7,373 412 2,016 528 140 2,517 95,992 45,470 141,462 130,501 Sale of Investments Sale of fixed assets Loans Received Total Receipts 95,992 45,470 141,462 130,501 Payments Raising funds Charitable activities Investment costs 475 94,008 413 34,045 888 128,053 3,032 128,564 94,483 34,458 128,941 131,596 Purchase of Investments Purchase of fixed assets Loan Repayments Total Payments 94,483 34,458 128,941 131,596 Net receipts / (payments) Transfers between funds 1,509 1,250 11,012 (1,2501 12,521 (1095) Net movement in funds Funds brought forward 2,759 79,0(M) 9,762 26,627 12,521 113,627 (1,095) 114,722 8,000 Funds carried forward li 81,759 36,389 8.000 126,148 113,627
an MAGHERAMASON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2024 Unrestricted Funds Restrirted Endowment Funds Funds Total Funds 2024 Total Fund 2023 Funds Reconciliation Bank and Cash at start of year Net movement in funds 79,0 2,759 26,627 9,762 8,1X)O 113,627 12.521 114,722 {1,0951 Bank and Cash at end of year 81,759 36,389 8,000 126,148 113,627 Bank & Cash Balances Bank Current Accounts Building Society Account Cash in Hand 50,686 74.591 871 41,426 71,486 715 126,148 114,722 Other Assets Fixed Assets- Note 9 Church Premises 5,166,704 4,920,670 Investments- Note 10 Investments Gift Aid receivable on donations 185 18,968 185 18,272 5,185,957 4,939,127 Liabilities Loans Approved by the Kirk Session at a meeting on l April 2025 and signed on its behalf by Graeme Orr Leslie Hamilton Date: 10
an MAGHERAMASON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2024 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS As the total income of the congregation is less than £250,0(K) the congregation have elected in accordance with the provisions in The Charities {Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments ba515. FUND ACCOUNTING Endowment funds are funds, the capital of which must be retained either permanently or at the congregation's discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. Restricted funds comprise {a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) 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. DONATIONS AND LEGACIES income Unrestricted Funds Restricted Funds Endowment Funds Total 2024 Total 2023 Recorded giving Loose collections Donations and gifts In Memoriam In Lieu of Flowers Gift Aid Legacies and bequest 70.012 5,098 1,925 19,713 5,840 1,700 1,420 1,665 4,445 86,113 10,396 3,625 1,420 1,665 18,471 86,113 10,396 3,169 555 1,990 17,949 11,026 91,061 34.783 125,844 120,172 11
an MAGHERAMASON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2024 CHARITABLE ACTIVITIES income Unrestricted Funds Restricted Funds Endowment Total 2024 Total 2023 Funds Fundraising events 1,322 1,802 3,124 5,773 Grants 6.228 6,228 1,600 1,322 8.030 9,352 7,373 4. OTHER TRADING ACTIVITIES income Unrestricted Funds Restricted Funds Endowment Total 2024 Total 2023 Funds Letting of premises Ground Rent INIE Pole) 100 loo 410 102 102 412 INVESTMENT INCOME Unrestricted Funds Restricted Funds Endowment Total 2024 Total 2023 Funds Investment interest Bank Interest 3,105 97 43 3,202 43 1,988 28 3,105 140 3,245 2,016 12
an MAGHERAMASON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {conVd) 31 December 2024 OTHER INCOME Unrestricted Restricted Endowment Totsl 2024 Total 2023 Funds Funds Funds Periodicals & Calendars Insurance Compensation Sundry Income Refund Pulpit Supplies 402 402 2,500 17 528 2.500 17 402 2,517 2,919 528 RAISING FUNDS Unrestrirted Funds Restricted Endowment Total 2024 Totsl 2023 Funds Funds FWO envelopes Fundraising events 475 475 413 532 2.500 413 475 413 888 1,179 CHARITABLE ACTIVITIES Unrestricted Funds Restricted Endowment Total 2024 Total 2023 Funds Funds General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions & charities Governance costs 16,708 946 56,799 18,355 1,200 16,708 946 56,799 35,611 17,989 16,066 940 54,893 38,064 18,601 17,256 16,789 94.008 34,045 128,053 128,564 13
an MAGHERAMASON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2024 FIXED ASSETS The congregation owns the Church premises situated at 137 Victoria Road, Magheramason and a manse situated at 139 Victoria Road, Magheramason for the minister and a caretakerfs cottage at 3 Ma50n Road, Magheramason and the associated fixtures, fittings and equipment. The premises and contents etc. have an insurance value of £5,166,704 10. INVESfMENTS The congregation has the following investments. Amounts are shown at market valuation. 2024 2023 Permanent Endowments 185 185 185 185 14
an MAGHERAMASON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2024 11. FUND BALANCES Balance at start Receipts Payment Surplu51 (Deficit) Transfer Balance at end Fund Unrestricted Funds General Account IName of Fund] 79,000 95,992 94,483 1,509 1,250 81,759 79,000 95,992 94,483 1,509 1,250 81,759 Restricted Funds Manse Property Fund Mission & Charities Boys, Brigade Girls, Brigade Sunday School (Explorers) Bowling Club Parent & Toddler pw Funeral Teas Afternoon Club 600 15,752 1,449 647 2,618 362 2,855 320 1.717 600 24,984 2,486 92 2,985 361 2,571 346 1,518 14,386 16,589 5,723 5,429 254 177 59 1,915 5.154 15,552 5,928 4,762 255 61 33 2.114 {3501 (300) (400) 307 938 599 (200) 446 26.627 45,470 34,458 (1.250) 36,389 Endowment Funds Legacies Bequests 8,000 8,000 8,000 8,000 Total 113,627 141.462 128,941 1,509 126,148. 15