## 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
Fd$
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:
- examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008
- to follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act
- to state whether particular matters have come to my attention.
## **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:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 63 of the Charities Act and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act 2008
have not been met or
- (2) to which, in my opinion, further information is required to enable a proper understanding of the accounts to be reached.
Olive K Wallace ACMA, CGMA OK Wallace Accountancy and Bookkeeping 101 Coolyvenny Road Coleraine BT51 3SF
31 March 2025