## 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| ||||======|======|======|======|======| Page 1 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| ||----------|----------|----------|----------|----------| Page 3 ## **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| ||----------|----------|----------|----------|----------| Page 4 ## **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| ||----------|----------| Page 5 ## **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| ||=======|=======|=======|=======|=======|=======| Page 6