WELLINGTON CONGREGATION OF THE PRESBITERIAN CHURCH IN IRELAND
STATEMENT OF FINANCIAL AcfiviTIES
Year ended 31 December 2024
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
2024
Total
2023
Note
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
Other income sources
506,356
5,285
28,793
3,030
387,853
894,209
5,285
28,793
4,486
19,265
901,611
4,465
24,530
3,873
18,384
1,456
19,265
Total income
543,464
408,574
952,038
952,863
Expenditure on:
Raising funds
Charitable activities
Other
2,106
644,674
33,309
io
li
462,714
14,752
255,059
17,674
717,773
32,426
Total expenditure
477,466
272,733
750,199
680,089
Net income /{expenditurel
65,998
135,841
201,839
272,774
Net movement in fund5
65,998
135,841
201,839
272,774
Reconciliation of funds
Funds brought forward
20
482,903
6,193,376
182,034
6,858,313
6,585,539
Funds carried forward
20
548,901
6,329,217
182,034
7,060,152
6,858,313
All income derives from continuing activities; therefore, no statement of recognised gains or losses is given.
The comparative amounts by funds have been disclosed on notes 2 & 3.
The notes on pages 20 to 32 form part of these financial statements
17

WELLINGTON CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
BALANCE SHEET AS AT 31 DECEMBER 2024
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
2024
Total
2023
Note
Fixed assets
Tangible assets
12
13,194
5,237,201
5,250,395
5,378,023
Total fixed assets
13,194
5,237,201
5,250,395
5,378,023
Current assets
Debtors
Current investments
Cash at bank & in hand
13
14
15
8,089
59,230
67,319
31,468
2,181,590
51,596
31,468
1,826,505
31,468
15,182
568,004
1,598,404
576,093
1,657,634
46,650
2,280,377
1,909,569
Creditors- amounts falling
due within one year
16
140,3861
116,7341
157,1201
115,7791
Net current assets
535,707
1,640,900
46,650
2,223,257
1,893,790
Inter fund debtors /
{creditors)
17
1135,3841
135,384
Total assets less current
liabilities
548,901
6,742,717
182,034
7,473,652
7,271,813
Creditors: amount5 falling
due after more than one
year
18
1413,5001
1413,5001
1413,5001
Total net assets
548,901
6,329,217
182.034
7,060,152
6,858.313
Funds carried forward
20
548,901
6,329,217
182,034
7,060,152
6,858.313
Approved by the Kirk Session at a meeting on
and signed on its behalf by
eoffrey Marshall
n Marshall
John Mcclintock
The notes on pages 20 to 32 form part of these financial statements
18

WELLINGTON CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
STATEMENT OF CASH FLOWS
Year ended 31 December 2024
Note
2024
2023
Net income / lexpenditurel
201,839
272,774
Adjustments to reconcile net income/ (expenditure) to net
cashflowsfrom operating uctivities
Depreciation of tangible fixed assets
Net finance costs
Capital expenditure
Ilncreasel / decrease in debtors
Increase / Idecreaselin creditors
12
132,445
11,915
{4,818}
115,723}
41,341
132,433
13,985
4,562
142,3391
Net cash inflow from operating activities
165,160
108,641
Investing attivities
Interest received
4,486
3,873
Net cash inflow from investing activities
4,486
3,873
Financing activities
Interest paid
Repayment of long-term loans
(16,4001
117,8581
1208,6341
Net cash (outflow) / inflow from financing activities
(16,4001
1226,4921
Net increase / {decreasel in cash and cash equlvalents
355,085
158.796
Cash and cash equivalents at l January 2024
1,826,505
1,667,709
Cash and cash equivalents at 31 December 2024
15
2,181,590
1,826,505
The notes on pages 20 to 32 form part of these financial statements
19

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 December 2024
I. ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation in the
preparation of the financial statements are as follows:
a) Basis of preparation
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to
Charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102) (second edition- October 2019).
Wellington Congregation ofthe Presbyterian Church in Ireland meets the definition of a public
benefit entity under FRS 102. Assets and liabilities are initially recognised at historic cost or
transaction value unless otherwise stated in the relevant accounting policy notes. The
financial statements include all transaction5 assets and liabilities for which the congregation
is responsible in law.
b) Preparation of accounts on a going concern basis
Wellington 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.
c) Income
Income is recognised when the charity has entitlement to funds, conditions attached to the
itemlsl of income have been met, it Is probable that the income will be received, and the
amount can be measured reliably. Income from government and other grants, whether
capital grants or revenue grants, is recognised when the charity has entitlement to the
funds, any performance conditions attached to the grants have been met, it is probable that
the income will be received, and the amount can be measured reliably and is not deferred.
Income from tax reclaims {Gift Aid) is recognised at the same time as the gift to which they
relate.
20

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2024
d) Donated services and facilities
In accordance with the Charities SORP IFRS 1021, the Eeneral volunteer time of the charity's
volunteers is not recognised financially in the Statement of Financial Activities, but their
valuable contribution is acknowledged in the Trustees, Report.
e) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be
measured reliably by the charity; this is normally upon notification of the interest paid or
payable by the bank.
f) Fund accounting
Unrestricted funds are available for use at the discretion of the Congregational Committee
in furtherance of the objectives of the charity.
Designated funds comprise unrestricted funds that have been set aside by the
Congregational Committee for particular purposes.
General funds may be transferred to designated funds where the Congregation Committee
wish to use these funds for a specific purpose. Such funds may be transferred back to
general funds once the criteria for the designation have been met or are no longer
applicable.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or
through the terms of the appeal.
Expendable endowment funds are donations that have been given to the church and the
Kirk Session has elected to hold these as capital. The Trustees have the discretion to Use
these funds as income.
g) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a
payment to a third party, it is probable that settlement will be required, and the amount
of the obligation can be measured reliably.
21

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd
Year ended 31 December 2024
Expenditure is accounted for on an accruals basis and has been classified under the
following headings:_
expenditure on raising funds includes all expenditure on fundraising activities and
other costs incurred on raising funds for charitable purpose,
expenditure on charitable activities includes the costs of central church assessments,
ministry and support staff, core team and organizational expenditure, church running
and administration costs, donations and other support services to further the
purposes of the charity,
other expenditure represents those items not falling into any other heading.
The church is not registered for VAT purposes, therefore irrecoverable VAT is either charged
to the Statement of Financial Activities or is capitalized a5 part of the cost of the related asset,
where appropriate.
h) Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly
undertake charitable activities. Support costs include back-office costs, finance, human
resources, payroll and governance costs which sUPPOrt the charity's activities.
i) Operating leases
The Church has no operating leases.
j) Tangible fixed assets
Items of property, fixtures and equipment are capitali5ed if they can be used for more
than one year and cost at least £2,000. They are stated at cost less accumulated
depreciation and impairment losses, if any. The depreciable amount is the cost of an asset
less its residual value.
Depreciation is charged to the Statement of Financial Activities on a straight-line basis so as
to write off the depreciable amount of the asset over its estimated useful life as follows..
Freehold land
Property
Fixtures & equipment
Not depreciated
50 years
20% straight line / 15/0 Straight line
The residual value and useful life of property, fixtures and equipment are reviewed at each
balance sheet date and updated for any changes.
22

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2024
k) Debtors
Operational and other debtors are recognised at the settlement amount due.
Prepayments are valued at the amount prepaid,
l) Cash at bank and in hand
Cash at bank and in hand includes cash and short term liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or
similar account.
m) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation
resulting from a past event that will probably result in the transfer of funds to a third party
and the amount due to settle the obligation can be measured or estimated reliably.
Creditors and provisions are normally recognised at their settlement amount after allowing
for any trade discounts due.
23

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2024
Statement of Financial Activities: Unrestricted funds
Note
2024
2023
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
Other incorne sources
506,356
5,285
28,793
3,030
499,135
4,465
24,530
1,729
877
Total Income
543,464
530,736
Expenditure on:
Raising funds
Charitable activities
Other
2,106
420,852
14,234
io
li
462,714
14,752
Total expenditure
477,466
437,192
Net income Ilexpenditurel
Transfers between funds
65,998
93,544
Net movement in funds
65,998
93,544
Reconclliation of funds
Funds brought forward
20
482,903
389,359
Funds carried forward
20
548,901
482,903
24

WELLINGTON CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2024
3. Statement of Financial Activities: Restricted funds
Note
2024
2023
Income from:
Donations and legacies
Investment income
Other income sources
387,853
1,456
19,265
402,476
2,144
17,507
Total income
408,574
422,127
Expenditure on:
Charitable activities
Other
io
li
255,059
17,674
223,822
19,075
Total expenditure
272,733
242,897
Net income /lexpenditure)
Transfers between funds
135,841
179,230
Net movement in funds
135,841
179,230
Reconcillation of funds
Funds brought forward
20
6,193,376
6,014,146
Funds carried forward
20
6,329,217
6,193,376
DONATIONS AND LEGACIES
Unrestricted
funds
Restricted
fund5
Endowment
funds
Total
2024
Total
2023
Recorded giving..
Loose collections
Donations and gifts
Gift aid
Legacies and bequests
24,964
365,311
66,357
49,724
24,964
670,430
126,691
72,124
13,213
669,719
121,495
97,184
305,119
60,334
22,400
506,356
387,853
894,209
901,611
25

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2024
5. CHARITABLE ACTIVITIES
Unrestricted
Funds
Restrlcted
funds
Endowment
funds
Total
2024
Total
2023
Fees from weddings and
funerals
Sundry income
Literature sales
2,925
453
1,907
2,925
453
1,907
2,555
1,910
5,285
5,285
4,465
6. OTHER TRADING AcfiviTIES
Unrestricted
Funds
Restricted
funds
Endowment
funds
Total
2024
Total
2023
Letting of premises
28,793
28,793
24,530
28,793
28,793
24,530
7. INVESTMENT INCOME
Unrestricted
Funds
Restricted
funds
Endowment
funds
Total
2024
Total
2023
Deposlt interest
3,030
1,456
4,486
3.873
3.030
1,456
4,486
3,873
8. OTHER INCOME
Unrestricted
Funds
Restricted
fund5
Endowment
funds
Total
2024
Total
2023
Other income
19,265
19,265
18,384
19,265
19,265
18,384
26

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS {cont'd)
Year ended 31 December 2024
RAISING FUNDS
Unrestricted
Funds
Restricted
funds
Endowment
funds
Total
2024
Total
2023
FWO envelopes
2,106
2,106
10. CHARITABLE ACTIVITIES
Unrestricted
Funds
Restricted
funds
Endowment
funds
Total
2024
Total
2023
General Assembly
Assessments
Presbytery fees
Ministry and support staff
costs
Congregational running
expenses
Donations to missions and
charities
Personal support
Depreciation {Note 121
Governance costs
58,674
1,763
212,752
58,674
1,763
212,752
54,154
1,725
195,965
158,653
37,656
196,309
155,809
10,250
4,000
10,762
5,860
55,359
34,975
121,683
5,386
65,609
38,975
132,445
11,246
52,808
39,923
132,433
11,837
462,714
255,059
717,773
644,674
11. OTHER EXPENDITURE
Unrestricted
Funds
Restricted
funds
Endowment
funds
Total
2024
Total
2023
Loan interest
Bank charges
Sundry
Catering costs
16,400
273
I,ooi
16,400
699
3,524
11,803
17,858
802
3.924
10,725
426
2,523
11,803
14,752
17,674
32,426
33.309
Total
2024
Total
2023
Net Income
Net income is stated after charging / Icreditingl:
Auditor's remuneration
3,600
3,600
27

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2024
12. TANGIBLE FIXED ASSETS
Church
buildings
Flxtures &
Equipment
Land
Manse
Total
COST
At l January 2024
Additions
Disposals
I,ioo,000
5,634,129
450,000
135,266
4,818
7,319,395
4,818
At 31 December 2024
I,ioo,000
5,634,129
450,000
140,084
7,324,213
DEPRECIATION
At l January 2024
Charge for the year
Eliminated on disposal
1,690,245
112,683
135.000
9,000
116,128
10,762
1,941,373
132,445
At 31 December 2024
1,802,928
144,000
126,890
2,073,818
NET BOOK VALUE
At 31 December 2024
I,ioo,000
3,831,201
306,000
13,194
5,250,395
At 31 December 2023
I,ioo,000
3,943,884
315,000
19,138
5,378,022
13. DEBTORS
2024
2023
Gift aid recoverable
CAF vouchers
Sundry
War loan debtor
11,426
50
20,458
35,385
9,777
50
6,384
35.385
67,319
51.596
28

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2024
14. INVESTMENTS
The congregation has the following investments. Amounts are shown at cost.
2024
2023
National Savings Income Bonds
31,468
31,468
31,468
31,468
15. CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise the following:
2024
2023
Cash at bank and in hand
2,181,590
1,826.505
16. CREDITORS: Amounts falling due within one year
2024
2023
Accruals and deferred income
Other creditors
Other taxation and social security
50,654
5,191
1,275
10,991
3,695
1,093
57,120
15,779
17. Inter fund debtors/ (creditors)
Inter fund debtor and creditors balances are included to represent the amounts owed between funds.
18. CREDITORS: Amounts falling due after one year
2024
2023
Sundry loans
Elsie Steele Trust loan
3,500
410,000
3,500
410,000
413,500
413.500
29

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2024
19. BANKAND OTHER BORROWINGS
The Elsie Steele Trust provided the Church with a loan of £410,000 to be repaid at the end of a twenty five -
year period. The loan is at a fixed rate of 4°A and has another seven year5 to run. The Elsie Steele Trust has
a secondary charge over the Church premises at 28 Sourhill Road, Ballymena. Co Antrim and associated
assets.
20. FUND BALANCES
Balance at
01101124
Surplusl
Ideficitl
Balance at
31112124
Receipts
Payments
Transfers
Unrestricted funds
General fund
482,903
543,464
1477.4661
65.998
548,901
Restricted funds
Old property reserve
Benevolent fund
Mission fund
New building fund
Organisations, fund
24,673
131
166,334
5.965,524
36,714
24,673
131
188,176
6,071,399
44,837
109,705
269,824
29,045
187,8621
1163,9491
120,9221
21,843
105.875
8,123
6,193.376
408,574
1272,7331
135,841
6,329,217
Endowment funds
Endowments
182,034
182,034
Total funds
6,858,313
952,038
1750,1991
201,839
7,060,152
The following 15 a list of the restricted funds in use together with a description of their use..
The old property fund is used to fund capital projects and the on-going maintenance and developrnent of
the properties owned and used by the congregation in its mission.
The new building fund was launched to fund the move to the New Premises where the Church is now
located.
The benevolent fund is used for social outreach programmes into the local community.
The mlssion account is used to meet our commitments to PCI and non-congregational mlssion at home and
overseas.
The organisations fund is the total funds of all church organisations.
30

WELLINGTON CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2024
21. EMPLOYEES NUMBERS AND STAFF COSTS
Employment costs
2024
2023
Wages and salaries
Employer's social security
Employer's pension contribution
173,573
10,133
14,191
197,897
157,284
9,669
13,000
179,953
Number of employees:
The number of staff employed by the church on 31 December 2024 was 1012023: 91
Staff salaries are in line with the salary scales maintained by the Presbyterian Church in Ireland IPCII.
No employees received remuneration in excess of £60,000.
Pension costs
The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme120091. This
15 a scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The congregation pays
an assessment to PCI equivalent to the employer's pension contribution for the Scheme and based on the
stipend paid to the minister. The PCI Scheme120091 15 a funded scheme of the defined benefits type, providing
defined benefits based on career average revalued salary. The Scheme has assets held in a separatelv
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¥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.
2024
2023
The contributions made by the congregation during the year were as follows-.
Pension costs
12,258
11,674
All other staff employed by the congregation are automatically enrolled in the SMART PENSION scheme. This
scheme and its assets are held by an independent scherne manager. The contributions made by the
congregation to this Scheme were, 2024.. £ 1,72112023: £1,3261.
31

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2024
22. RELATED PARTY TRANSACTIONS
One of the trustees, the minister of the congregation, received remuneration of £51,075 and expenses of
£8,640 for acting in that capacity. Pension contributions of £12,258 were paid by the congregation in respect
of the minister.
No other charity trustee, other than the minister mentioned above. received payment for professional or
other services supplied to the charity.
During the year the congregation contributed the following amounts to Funds of the General Assembly of the
Presbyterian Church in Ireland, a separate charity:
£140,385 for congregational assessments, which includes the ministerfs stipend disclosed above
£32,304 towards the United Appeal
Mr Geoffrey Marshall and Mr Mark Hood, trustees of the Church are also trustees of the Elsie Steele Trust, a
charitable trust, which has made a loan of £410,000 to Wellington Presbyterian Church. This is an interest
only loan, with interest being charged at 4/0 per annum and capital repayable at the end of twenty-five
years. There are seven years to run on the loan on 31 December 2024.
32