an BUCKNA CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY FOR YEAR ENDED 31 DECEMBER 2024 UNRESTRICTED RESTRIcfED TOTAL TOTAL FUNDS FUNDS 2024 2023 Income and endowments from Donations and legacies Charitable activities Investments Other Income 125,883 1,289 122 1,075 286,370 32,055 3,392 6,660 412,253 33,344 3,513 7,735 336,511 28,830 6,916 3,544 Total 128,369 328,477 456,847 375,803 Expenditure on: Raising funds Charitable actlvltles 118,435 98,056 216,491 179,894 Total 118,435 98,056 216,491 179,894 Net incomel(expendlture) Transfers between funds Net movement in funds 9,934 (7,107) 2,827 230,421 7,107 237,528 240,356 195,909 240,356 195,909 Reconciliation of funds: Total funds brought forward 20,620 1,559,278 1,579,898 1,383,989 Total funds carried forward 23,447 1,796,806 1,820,253 1,579,898 12
an BALANCE SHEET AS AT 31 DECEMBER 2024 NOTES LINAEwRIcfED REsfRIcfED TOTAL YOTAL FUNDS FUNDS FUNDS FLINDS 2024 2023 FIXED ASSETS Tangible assets Investments io li 2,044,423 2,044,423 1,164,118 Total fixed assets 2 044,423 2,044,423 1,164,116 CURRENT ASSETS Debtors Cash at bank and in hand Total current assets 12 13 21.477 4,771 26,248 41,546 114,396 155,942 63,023 119,167 182,189 51,203 415,978 467,180 LIABILMES CredltOTS.' amounts falllng due wllhin one year 14 2,800 403,559 406,359 51,400 Net current Jssets 23,447 247,617 224,170 415,780 Total net assets 23,447 1,796,806 1,820,253 1579,898 FUNDS OFTHE CHARrrY Unrestricted funds Restricted funds 15 15 23,447 23,447 1,796,806 20,620 1,559,278 1,796,806 Total charlty funds 23,447 1,796,806 1,820,253 1,579,898 Approved by the Kirk Se5slon at a meetlng on 1.5.2025 and signed on Its behalf by.. Mr Wllnor Reld (Clerk of Se551on) Mrs Maureen Currle (Treasurer) Dated .. 1st May 2025 Dated . 1st May 2025 13
an BU KN CONGRE N OF THE PRE RIAN CHURCH IN I ND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of flnancial statements The financial statements have been prepared In accordance with Accounting and Reportlng by Charities:Statements of Recommended Prartice applicable to charities preparing their accounts in accordance with Financial Reportlng Standard applicable in the UK and Ireland (FRS102) (effective l January 2015). The flnancial statements have been prepared under the hlstorlcal 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 body, nor those that are informal gatherlngs of church members. Fund accounting Restrlcted funds comprise revenue donations or grants for a specific congregational actlvlty Intended by the donor. Where these funds have unspent balance, interest on thelr pooled Investment Is apportioned to the indlvldual funds on an average basis. Unrestrlcted funds are income funds whlch are to be spent on the congregation's general purposes. Designated funds are general funds set aslde by the congregation for use in the future. Income resources Reco nition of in These are included in the Statement of Flnancial Actlvltles (SOFA) when.. the congregation becomes entitled to the resources. the trustees are virtually certain they will receive the resOurs. and the monetary value can be measured with sufficlent reliably. (i) resources (li) urces with r la Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. (iii) nd donations Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the resources. (iv) claims on donations and Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. 14
an NA CONGREGATION PRESBrfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 ACCOUNTING POLICIES- CONT'D (v) ntractual in ce related rants This is only Included in the SOFA once the related goods or serv15 have been dellvered. The value of any voluntary help recelvedls not Included in the accounts but is described in the trustees, annual report. Expenditure and Ilablltles (vii) Ll reco nitio Liabilities are recognlsed as soon as there is a legal or constructive obligation committlng the congregation to pay out resour5. (vlll) rnan costs These are shown withln charltable actlvltles and Include the costs of preparatlon and examination of accounts, the costs of trustee meetings and cost of any legal advi to trustees on governance or constitutional matters. (ix) rants with erf Where the charlty glves a grant with conditions for its payment being a speciflc level of Servi or output to be provlded, such grants are only recognised in the SOFA once the reclpient of the grant has provided the specif5ed service or output. rm (x) Grants abl erfo ndi 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. an (xi) Tan ible fixed asse Tangible flxed assets for use by charity are capitalised If they can be used for more than one year, and c05t at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt. Depreciation Is recorded on all tsngible flxed assets other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as follows,. Fixtures, fittings and equipment Computers, sothare and technical equipment over 10 years over 4 years 15
an BUCKNA C NGREGATION F THE PREsBERI N CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 INCOME FROM DONATIONS AND LEGACIES UNRESTRICTED REsfRicfED TOTAL TOTAL FUNDS FUNDS FUNDS FUNDS 2024 2023 Recorded giving Loose collettions Donations and gifts Legacies and bequests Gift aid 107,437 215,306 3,192 3,365 22,961 41,546 286,370 322,743 3,192 3,465 22,961 59,892 412,253 280,212 1,914 1,220 4,930 48,235 336,511 loo 18,346 125,883 INCOME FROM CHARITABLE ACTIVITIES UNRESTRIcfED RE$fRIED TOTAL TOTAL FUNDS FUNDS FUNDS FUNDS 2024 2023 Organlsation income Sale of study books etc Grants 24,304 24,304 1,289 7,751 33,344 22,689 941 5,200 28,830 1,289 7,751 32,055 1,289 INCOME FROM INVEsfMENTS UNRESTRICTED RESTRICTED TOTAL TOTAL FUNDS FUNDS FUNDS FUNDS 2024 2023 Bank interest and gain on investment 122 3,392 3,513 6916 OTHER INCOME UNRESTRIcfED RESTRIcfED TOTAL TOTAL FUNDS FUNDS FUNDS FUNDS 2024 2023 Other income 1,075 6660 7,735 3544 16
an KNA GRE OFTH ESBE HIN LAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 EXPENDITURE ON RAISING FUNDS UNRESTRICTED RESTRicfED TOTAL TOTAL FUNDS FUNDS FUNDS FUNDS 2024 2023 FWO envelopes EXPENDrruRE ON CHARrrABLE ACTIvrrIES UNREsfRicfED RESTRICTED TOTAL TOTAL FUNDS FUNDS FUNDS FUNDS 2024 2023 General assembly assessments Presbytery fees Minlstry and support staff costs Congregatlonal running expenses Donatlons to Misslons and charitles Governance costs Depreclatlon charge 9,945 2,317 9,945 2,317 8,985 2,527 78,146 78,146 79,371 26,443 97,966 124,409 88,236 1,584 1,584 675 90 98,056 90 216,491 loo 179,894 118,435 EMPLOYEES TOTAL TOTAL FUNDS FUNDS 2024 2023 Wages, salaries and expense allowan Social security costs Penslon contributions 61,542 5,246 9,619 76,406 63,317 5,006 9,160 77,483 The average number of employee5, including the mlnlster of the congregation, during the year was.. 2024 2023 Average number of employees There were no employees in receipt of employee benefits in exce55 of £60,000. 17
an BUCKNA CONGRE ATION OF ThE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 PENSION COSTS The minister of the congregatlon Is a member of the Presbyterlan Church In Ireland Pension Scheme (2009). This is a scheme operated by the Presbyterian Church In Ireland, a separate reg5stered 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 pald to the mlnster. The Presbyterian Church In Ireland Pension Scheme (2009) is a funded scheme of the defined beneflt type, 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 contributlons was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 240/0 of pensionable salaries to cover the accrual of benefits for future service, expenses, the cost of Insuring death in service benefits and funding the scheme deficit. The contrlbutlons made by the congregation durlng the year were: TOTAL TOTAL FUNDS FUNDS 2024 2023 Contributions 9,619 9,160 18
Presbyter an NA GREGA ON OF THE PRESBYfERIAN HU ELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 io TANGIBLE FIXED ASSETS BUILDINGS FzxfuRES TOTAL FIrrINGS & EQUIPMENT COST OR VALUATION At start of year Additions Disposals 3,274,501 880,395 20,980 3,295,481 880,395 At end of year 4,154,896 20,980 4,175,876 DEPRECIATION At start of year Provision for year Disposals 2,111,283 20,080 90 2,131,363 90 At end of year 2,111,283 20,170 2,131,453 NET BOOK VALUE At start of year 1,163,218 900 1,164,118 At end of year 2,043,613 810 2,044,423 19
Presbyter an KNA RE ATION F THE pREsBERlAN CHU ND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 li INVESTMENTS 2024 2023 Value at 31 December 2024 12 DEBTORS UNRESTRIcfED RESTR[E0 TOTAL TOTAL FUNDS FUNDS FUNDS FUNDS 2024 2023 Gift Aid Recoverable Prepayments 18,346 3,130 41,546 59,892 3,130 48,235 2,967 21,477 41,546 63,023 51,203 13 CASH AT BANK AND IN HAND UNRESTRicfED RESTRIcfED TOTAL TOTAL FUNDS FUNDS FUNDS FUNDS 2024 2023 Bank cUrnt accounts Bank dep051t account Cash in hand 4,771 114,396 119,168 415,978 4,771 114,396 119,168 415,978 14 CREDITORS: amounts falling due withln one year UNRESTiucfED RESTR[ED TOTAL TOTAL FUNDS FUNDS FUNDS FUNDS 2024 2023 Accruals Interest free loan5 Bank loan 2,800 2,800 75,000 328,559 406,359 1,400 50,000 75,000 328,559 403,559 2,800 51,400 20
Pres an- CKNA CONGRE F THE PRE BERIAN H IN IRELAND NOTÉS TO THE ACCOUNTS 31 DECEMBER 2024 15 FUND BALANCES AND RECONCILIATION OF FUNDS BALANCE INCOME EXPEND TRANSFER BALANCE AT AT START END UNRESTRicfED FUNDS l General account 20,620 128,369 118,435 (7,107)1 23,447 128 369 118 435 RESTRICTED FUNDS United Appeal pci student Bursary i Romanian outreach i Knit & Natter IPSNI Buckna LOL RBP Missionary Cholr l Buildlng ',Girls Brigade Sunday School Junior Christian Endeavour Maintenance & Repair 944 (6,570) 209 526 120 1,020 (1,020) 31 (447)1 (31) 8,954 (26,704) 7,386 359,154 217,977 8,329 1,138 838 (536,753) (7,985) (1,168) 1,492 445 523 40,342 (14,295) (1,128) [- (5,853) (20,330) .Youth Club i Bowling Club 449 580 (6,781) (7,553) (10,756) (431)1 (4,449) Boy5 Brigade Building No 5 . Sunshine club Loan account 4,785 2,015,714 1,134,913 3,365 892 888,192 (324,liO) (328,559) 1,559,278 328,477 (98,056) 7,107 | 1,796,806 TOTAL FUNDS 1,579,898 456,846 1,820,253 21
Presbyter an KNA RE ATI F THE PREsBERIAN C ELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 16 RELATED PARTY TRANSACTION One of the Trustee5, the mlnlster of the congregatlon recelved remuneration of £40,076 and expenses of £8976 for acting in the capacity. Pension contributions of £9,619 were paid by the congregation in respect of the mlnister to the Presbyterlan Church in Ireland Pension Scheme (2009). None of the other trustees received any remuneration. Durlng the year the congregation contrlbuted the followlng amounts to Fund5 of the General Assembly of the Presbyterian Church in Ireland a separate charity £9,945 for congregational assessments £6,570 towards the United Appeal The congregation contributed £431 towards Presbytery Assessments during the year. There were no other related paty transactlons.