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2024-12-31-accounts

Hazelbank Congregation of the Presbyterian Church in Ireland

Financial Statements

Year Ended 31[st] December 2024

NIC 105540

HAZELBANK CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2024

Note Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total 2024 Total
2023
£ £ £ £ £
Receipts
Donations and legacies 2 102,504 50,912 153,416 160,704
Charitable activities 3 314 4,456 4,770 3,904
Investment Income 4 3,479 2,879 6,358 1,547
Other Income 5 515 515 700
---------- ---------- ---------- ---------- ----------
Sub Total 106,812 58,247 0 165,059 166,855
Sale of Investments 0
Sale of fixed assets 0
Loans Received 0
---------- ---------- ---------- ---------- ----------
Total Receipts 106,812 58,247 0 165,059 166,855
---------- ---------- ---------- ---------- ----------
Payments
Raising funds 6 459 36 495 536
Charitable activities 7 104,193 43,882 148,075 144,069
Investment costs 0
---------- ---------- ---------- ---------- ----------
Sub Total 104,652 43,918 0 148,570 144,605
Purchase of Investments 46 46
Purchase of fixed assets 0
Loan Repayments 0
---------- ---------- ---------- ---------- ----------
Total Payments 104,698 43,918 0 148,616 144,605
---------- ---------- ---------- ---------- ----------
Net receipts / (payments) 2,114 14,329 0 16,443 22,250
Transfers between funds 650 (650) 0 0
---------- ---------- ---------- ---------- ----------
Net movement in funds 2,764 13,679 0 16,443 22,250
Funds brought forward 123,765 116,636 0 240,401 218,151
---------- --------- ---------- ---------- ----------
Funds carried forward 10 126,529 130,315 0 256,844 240,401
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HAZELBANK CONGREGATION OF THE PRESBYTERIAN CHURCH IN IREIAND sfATEMENT OF ASSETS AND LIABILITIES As at 31 December 2024 Unrestricted Restrlcted Endty￿menI Funds Funds Funds Total To131 2023 2024 Funds Reconciliation Bank and Cash at start of year Net movement in funds 123,765 2,764 116,636 13,679 240,401 16,443 218,151 22,250 Bank and Cash at end of year 126,529 130,315 256,844 240,401 Bank & Cash Balances Bank Accounts Cash in Hand 256.645 199 240,364 37 256,844 240,401 Fixed Assets- Note 8 4,049,332 3,856,507 Other Assets Investments- Note 9 Gift Aid receivable on donations 3,218 23,940 3,172 25,365 27,158 28,537 Approved by the Kirk Session at a meeting on and signed on its behalf by Name Name Date Date 6(.,1- Page 2

HAZELBANK CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2024

1. ACCOUNTING POLICIES

BASIS OF FINANCIAL STATEMENTS

As the total income of the congregation is less than £250,000 the congregation have elected to prepare its accounts on a receipts and payments basis, in accordance with the provisions in The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015.

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.

2. DONATIONS AND LEGACIES

Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total 2024 Total
2023
£ £ £ £ £
Recorded giving 79,909 33,364 113,273 115,844
Loose collections 1,150 8,965 10,116 11,704
Donations and gifts 635 1,411 2,046 6,481
Gift Aid 20,810 6,472 27,282 26,675
Legacies and bequest 0 700 700 0
---------- ---------- ---------- ---------- ----------
102,504 50,912 0 153,416 160,704
---------- ---------- ---------- ---------- ----------

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HAZELBANK CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2024

3. CHARITABLE ACTIVITIES

3.CHARITABLE ACTIVITIES
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
Income from charitable activities 314 851 1,165 1,552
Fundraising events 0 572 572 0
Membership fees 0 1,244 1,244 1,152
Grants 0 1,789 1,789 1,200
---------- ---------- ---------- ---------- ----------
314 4,456 0 4,770 3,904
---------- ---------- ---------- ---------- ----------
4.INVESTMENT INCOME
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
Bank interest 3,433 2,879 6,312 1,547
Other investment income 46 0 46 0
---------- ---------- ---------- ---------- ----------
3,479 2,879 0 6,358 1,547
---------- ---------- ---------- ---------- ----------

5. OTHER INCOME

Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
Other income 515 0 515 700
---------- ---------- ---------- ---------- ----------
515 0 0 515 700
---------- ---------- ---------- ---------- ----------

6. RAISING FUNDS

6.RAISING FUNDS
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
FWO envelopes 459 0 459 485
Fundraising events 0 36 36 51
---------- ---------- ---------- ---------- ----------
459 36 0 495 536
---------- ---------- ---------- ---------- ----------

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HAZELBANK CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2024

7. CHARITABLE ACTIVITIES

7.CHARITABLE ACTIVITIES
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
General Assembly Assessments 19,547 0 19,547 18,733
Presbytery fees 629 0 629 614
Ministry and support staff costs 65,946 0 65,946 62,869
Premises Costs 14,418 0 14,418 15,347
Congregational running expenses 3,300 5,736 9,036 11,507
Repairs and Maintenance 52 7,096 7,148 7,507
Donations to Missions and charities 0 31,050 31,050 27,172
Governance costs 300 0 300 320
---------- ---------- ---------- ---------- ----------
104,193 43,882 0 148,075 144,069
---------- ---------- ---------- ---------- ----------

8. FIXED ASSETS

The congregation owns the Church premises situated at Hazelbank Road, Coleraine and the associated fixtures, fittings, plant and machinery.

The congregation also owns the Church Manse

These have an insurance value of

and the associated fixtures, fittings, plant and machinery.
The congregation also owns the Church Manse
These have an insurance value of
£ £
Church Premises including fixtures and fittings 3,524,072 3,356,259
Church Manse 525,260 500,248
------------ ------------
4,049,332 3,856,507
------------ ------------

9. INVESTMENTS

The congregation has the following investments. Amounts are shown at market valuation.

2024 2023
Endowment Funds £ £
Bequest Account 3,218 3,172
---------- ----------
TOTAL INVESTMENTS 3,218 3,172
---------- ----------

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HAZELBANK CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2024

10. FUND BALANCES

Fund Balance at
start		 Receipts Payment Surplus /
(Deficit)		 **Transfer ** Balance at
end
£ £ £ £ £ £
Unrestricted Funds
General Fund 123,765 106,812 104,698 2,114 650 126,529
---------- ---------- ---------- ---------- ---------- ----------
123,765 106,812 104,698 2,114 650 126,529
---------- ---------- ---------- ---------- ---------- ----------
Restricted Funds
Property Fund 55,934 18,966 7,176 11,790 67,724
Ministry Extension Fund 44,559 9,012 1,088 7,924 (500) 51,983
United Appeal 0 8,914 8,914 0 0
World Development Appeal 0 3,153 3,153 0 0
Zomba 8,055 3,400 11,455 (8,055) 0
EMF 0 3,759 3,759 0 0
Child Evangelism Fellowship 0 392 392 0 0
Tearfund 0 925 925 0 0
Students Bursary Fund 0 651 651 0 0
Turks Work 0 593 593 0 0
Foodbank 0 200 0 200 200
Bowling Club 395 710 404 306 (250) 451
Fit 4 118 0 0 0 118
Girls' Brigade 3,057 4,683 3,700 983 (400) 3,640
Mums and Toddlers 348 260 161 99 447
Presbyterian Women 3,241 1,687 111 1,576 4,817
Sunday School 929 942 1,436 (494) 500 935
---------- ---------- ---------- ---------- ---------- ----------
116,636 58,247 43,918 14,329 (650) 130,315
---------- ---------- ---------- ---------- ---------- ----------
TOTAL CASH FUNDS 240,401 165,059 148,616 16,443 0 256,844
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