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2024-12-31-accounts

Aghadowey Congregation of the Presbyterian Church in Ireland

Financial Statements

Year Ended 31[st] December 2024

NIC 105547

AGHADOWEY 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 71,327 117,761 189,088 182,507
Charitable activities 3 3,673 19,294 22,967 17,223
Other trading activities 4 0 3,010 3,010 4,140
Investment Income 5 1,437 6,624 8,061 2,539
Other Income 6 3,258 480 3,737 1,404
---------- ---------- ---------- ---------- ----------
Sub Total 79,695 147,169 0 226,864 207,813
Sale of Investments 100,000 100,000
VAT Refund 58,979 58,979
Loans Received 174,000 174,000
---------- ---------- ---------- ---------- ----------
Total Receipts 79,695 480,148 0 559,843 207,813
---------- ---------- ---------- ---------- ----------
Payments
Raising funds 7 400 179 580 615
Charitable activities 8 88,138 37,635 125,773 105,060
Investment costs 0
Other Expenditure 9 0 675 675 600
---------- ---------- ---------- ---------- ----------
Sub Total 88,539 38,489 0 127,027 106,275
Purchase of Investments 1,061 919 1,980 101,676
Purchase of fixed assets 435,025 435,025
Loan Repayments 164,000 164,000
---------- ---------- ---------- ---------- ----------
Total Payments 89,600 638,433 0 728,032 207,951
---------- ---------- ---------- ---------- ----------
Net receipts / (payments) (9,904) (158,285) 0 (168,189) (138)
Transfers between funds (341) 341 0 0
---------- ---------- ---------- ---------- ----------
Net movement in funds (10,245) (157,944) 0 (168,189) (138)
Funds brought forward 55,976 224,454 0 280,430 280,568
---------- --------- ---------- ---------- ----------
Funds carried forward 12 45,731 66,510 0 112,241 280,430
====== ====== ====== ====== ======

Page 1

AGHADOWEY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IREIAND STATEMENT OF ASSEfs AND UABIUTIES As at 31 December 2024 Furnts F￿d$ Totsl 2024 Total 2023 Funds Funds Reconciliation Bank and Cash at Start of year Net movement in funds 55.976 224,454 (10.245) (157,944) 280,430 (168,189) 280,568 1138) Bank and Cash at end of year 45.731 66,510 112,241 280,430 Bank & Cash Balances Bank Accounts Cash in Hand 112,110 131 279,660 770 112.241 280.430 Flxed Assets - Note 10 6,387.422 6,183,371 Other Assets Investments- Note 11 Gift Aid receivable on donations 127,127 2,747 220.437 3.733 129,874 224.170 Llablllties Loans 10,000 10,000 Approved by the Kirk Session at a meeting on /. IGI K and signed on its behalf by Name Date Ic /o1/3cII Date jb,. Page 2

AGHADOWEY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Year ended 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 61,527 87,536 149,063 144,392
Loose collections 0 8,935 8,935 9,360
Donations and gifts 0 1,543 1,543 2,120
Gift Aid 9,800 19,747 29,547 25,635
Legacies and bequest 0 0 0 1,000
---------- ---------- ---------- ---------- ----------
71,327 117,761 0 189,088 182,507
---------- ---------- ---------- ---------- ----------

Page 3

AGHADOWEY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Year ended 31 December 2024

3. CHARITABLE ACTIVITIES

3.CHARITABLE ACTIVITIES
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
Income from charitable activities 3,673 682 4,355 3,093
Fees from weddings and funerals 0 0 0 200
Fundraising events 0 15,606 15,606 11,226
Membership fees 0 1,120 1,120 1,004
Grants 0 1,887 1,887 1,700
---------- ---------- ---------- ---------- ----------
3,673 19,294 0 22,967 17,223
---------- ---------- ---------- ---------- ----------

4. OTHER TRADING ACTIVITIES

Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
Letting of premises 0 1,010 1,010 2,540
Trading income 0 2,000 2,000 1,600
---------- ---------- ---------- ---------- ----------
0 3,010 0 3,010 4,140
---------- ---------- ---------- ---------- ----------

5. INVESTMENT INCOME

Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
Bank interest 103 1 105 135
General Investment Fund 274 650 924 728
Other investment income 1,060 5,973 7,033 1,676
---------- ---------- ---------- ---------- ----------
1,437 6,624 0 8,061 2,539
---------- ---------- ---------- ---------- ----------

Page 4

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

6. OTHER INCOME

6.OTHER INCOME
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
Insurance claims 0 0 0
Other income 3,258 480 3,737 1,404
---------- ---------- ---------- ---------- ----------
3,258 480 0 3,737 1,404
---------- ---------- ---------- ---------- ----------
7.RAISING FUNDS
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
FWO envelopes 400 0 400 505
Fundraising events 0 179 179 110
---------- ---------- ---------- ---------- ----------
400 179 0 580 615
---------- ---------- ---------- ---------- ----------
8.CHARITABLE ACTIVITIES
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
General Assembly Assessments 13,468 0 13,468 12,318
Presbytery fees 467 0 467 415
Ministry and support staff costs 47,161 73 47,233 38,827
Premises Costs 12,745 0 12,745 13,174
Congregational running expenses 6,139 6,434 12,573 8,412
Repairs and Maintenance 7,859 9,855 17,714 12,050
Donations to Missions and charities 0 21,274 21,274 19,564
Governance costs 300 0 300 300
---------- ---------- ---------- ---------- ----------
88,138 37,635 0 125,773 105,060
---------- ---------- ---------- ---------- ----------

Page 5

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

9. OTHER EXPENDITURE

Unrestricted Restricted
Endowmen		 Total Total
Funds Funds t Funds 2024 2023
£ £ £ £ £
Other Expenditure 0 675 675 600
---------- ---------- ---------- ---------- ----------
0 675 0 675 600
---------- ---------- ---------- ---------- ----------

10. FIXED ASSETS

The congregation owns the Church premises situated at 50 Ardreagh Road,Aghadowey Coleraine, the Church Manse and the associated fixtures, fittings, plant and machinery.

These have an insurance value of £ These have an insurance value of £
Church Building 3,193,712
Church Hall 638,743
Youth Hall 1,729,926
Minor Hall 292,756
Church Manse 532,285
6,387,422

11. INVESTMENTS

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

2024 2023
Endowment Funds £ £
General Investment Fund 35,604 33,997
Other investments 51,640 48,751
---------- ----------
87,244 82,748
---------- ----------
Other Investments
General Investment Fund 3,461 3,305
Other investments 36,422 34,384
Progressive Building Society 0 100,000
---------- ----------
39,883 137,689
---------- ----------
Fund Summary of Investments
General Fund 58,750 55,588
Mission Fund 35,580 33,618
Sunday School 13,481 12,786
Outreach 2,763 2,639
Property 13,482 112,874
Minister 3,071 2,932
---------- ----------
127,127 220,437

Page 6

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

12. FUND BALANCES

Fund Balance at
start		 Receipts Payment Surplus /
(Deficit)		 Transfer Balance at
end
£ £ £ £ £ £
Unrestricted Funds
General Fund 55,976 79,695 89,599 (9,904) (341) 45,731
---------- ---------- ---------- ---------- ---------- ----------
55,976 79,695 89,599 (9,904) (341) 45,731
---------- ---------- ---------- ---------- ---------- ----------
Restricted Funds
Property / Building Fund 158,518 443,725 609,157 (165,432) 9,400 2,486
United Appeal 312 8,190 8,502 (312) 0
General Missions 31,916 3,017 1,466 1,551 33,467
Outreach 15,943 2,417 52 2,365 18,308
World Development Appeal 376 1,226 1,703 (477) (101)
Belfast City Mission 346 1,620 1,492 128 474
Student Bursary Fund 0 908 908 0 0
Moderator's Appeal 237 0 0 0 237
Earl Haig 0 168 168 0 0
Presbyterian Children's Society 0 903 903 0 0
Samaritan's Purse 0 545 545 0 0
Smiles Foundation 0 612 765 (153) (153)
Turning Point NI 0 506 506 0 0
Open Doors (Africa) 0 612 765 (153) (153)
Abanna Choir 0 997 997 0 0
Ladies Work 0 500 0 500 500
Minister 0 73 73 0 0
Sunday School 4,980 942 727 215 5,195
Cahir & Fermoy 500 0 1,000 1,500
PW 7,020 8,762 3,904 4,858 (10,000) 1,878
Ignite Youth Fellowship 532 0 0 0 532
Youth Club 1,127 633 572 61 1,188
Mums and Tots 897 523 908 (385) 512
Boys' Brigade 1,750 3,269 4,320 (1,051) (59) 640
---------- ---------- ---------- ---------- ---------- ----------
224,454 480,148 638,433 (158,285) 341 66,510
---------- ---------- ---------- ---------- ---------- ----------
TOTAL CASH FUNDS 280,430 559,843 728,032 (168,189) 0 112,241
======= ======= ======= ======= ======= =======

Page 7

Independent examiner’s report to the trustees of Aghadowey Congregation of The Presbyterian Church in Ireland

I report on the accounts of the Charity for the year ended 31 December 2024, which are set out on pages 1 to 7.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. The charity’s trustees consider that an audit is not required for this year under section 65(2) of the Charities Act (Northern Ireland) 2008 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9) (b) of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

have not been met or

Olive K Wallace ACMA, CGMA OK Wallace Accountancy and Bookkeeping 101 Coolyvenny Road Coleraine BT51 3SF

31 March 2025