CUNNINGHAM MEMORIAL CONGREGATION OF THE pREsBER1AN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY FOR YEAR ENDED 31 DECEMBER 2024 NOTES UNRESTRicfED FUNDS REsfRICtED FUNDS ENDOWMENT FUNDS TOTAL 2024 TOTAL 2023 Income and endowments from Donations & legacies Charitable activities Other trading activities Investments Other income Total 183,927 1,514 7,916 3.479 96,565 4,612 280,492 6,126 7,916 4,688 269,972 2,603 10,698 762 1,209 196,836 102,386 299,222 284,035 Expenditure on: Raising funds Charitable activities Total 2,000 160,672 162.672 2,000 243,867 245,867 2,080 287,359 289,439 83,195 83,195 Repayment of loans Net income/{expenditure) Transfers between funds Net movement in funds Reconciliation of funds.. Total funds brought forward 34.164 12,028) 32,136 19.191 2,028 21,219 53,355 15,4041 53,355 15,4041 723.418 8.453.780 8.800 9,185,998 9,191,402 Totsl funds carried fonyard 755.554 8.474,999 8,800 9.239,353 9.185,998 io
CUNNINGHAM MEMORIAL CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND BALANCE SHEET AS AT 31 DECEMBER 2024 NOTE! UNRESTRicfED FUNDS REsTricfED FUNDS ENDOWMENT FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 FIXED ASSErs Tangible assets Total fixed assets li 512,340 512.340 8,325,262 8,325.262 8,837,602 8,837,602 8,837,602 8,837.602 CURRENT ASSETS Debtors Cash at bank and in hand Total current assets 12 13 38,795 209.516 248,311 13,706 138.434 152,140 52,501 356,750 409,251 47,550 310.586 358,136 8,800 8,800 LIABILITIES Cred itors: amounts falling due within one year 14 5.097 2.403 7,500 9,740 Net current assets or 243,214 149,737 8,8CMJ 401,751 348,396 Total net assets or liabilities 755.554 8.474.999 8.800 9,239,353 9,185.998 FUNDS OF THE CHARITY Unrestricted income funds Restricted income funds Endowment funds Total charity funds 15 15 15 755,554 755,554 8,474,999 8,800 9,239,353 723,418 8,453,780 8,800 9,185,998 8,474,999 8,800 8,800 755,554 8,474,999 Approved by the Kirk Session at a meeting on 7 April 2025 and signed on its behalf by Kl d piJUla Name: Rev Noel Mullholland Date: Name: Mr Colln Hutchln50n Date: X .Li. Ir lIlL5 li
CUNNINGHAM MEMORIAL CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of financial statements The financial statements have been prepared in accordance with Accounting and Reporting by Charities-statements of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland (FRS1021 (effective l January 2015). The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the congregation is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members. Fund accounting Restricted funds comprise revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balance, interest on their pooled investment is apportioned to the individual funds on an average 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. Income resources Reco nition of incomin These are included in the Statement of Financial Activities (SOFA) when- the congregation becomes entitled to the resources; the trustees are virtually certain they will receive the resources- and the monetary value can be measured with sufficient reliably. resources Incomin resources with related ex enditure Where incoming resources have related expenditure {as with fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. Grants and donations Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the resources. Tax reclaims on donations and ifts Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. Contractual income and erformance related rants This is only included in the SOFA once the related goods or services have been delivered. 12
CUNNINGHAM MEMORIAL CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 ACCOUNTING POLICIES- CONT'D Ivil Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised and are included in the SOFA as incoming resources when receivable. Iviil Donated services and facilities These are only included in incoming resources {with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. Volunteer hel The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. Investment income This is included in the accounts when receivable. Expenditure and liabilties Ixl Liabilit nition Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. reco Governance costs These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Grants able without erformance conditions These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity- 13
CUNNINGHAM MEMORIAL CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 ACCOUNTING POLICIES- CONT'D ASSETS Tan ible fixed assets Details of historic costs of this class of asset is not available. This being the case all assets have been included in the balance sheet at valuation. No depreciation has been provided on these assets as the current estimated residual value is not less than the carrying value and the remaining useful life currently exceeds 50 years. Tangible assets are de-recognised on disposal or when no future economic benefits are expected. On disposal, the difference between the new disposal proceeds and the carrying amount is recognised in the statement of financial activities and included in 'other operating gains/(losses)" In the future any fixed asset additions will be recognised at cost and depreciated at rates to write off their cost, less estimated residual value, over their expected useful life. The Trustees have agreed that any fixed asset addition with a value of less than £5,000 does not need to be shown as assets and will simply be written off as expenditure in the year of purchase. DONATIONS AND LEGACIES UNRESTRicfED FUNDS RESTRicfED FUNDS ENDOWMENT FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Recorded giving Loose collections Donations and gifts Gift aid 148,051 4,607 4,935 26,334 183,927 69,465 12,591 1,221 13,288 96,565 217,516 17,198 6,156 39,622 280,492 207,003 16,173 7,389 39,407 269,972 CHARITABLE ACTIVITIES UNRESTRicfED FUNDS RESTRicfED FUNDS ENDOWMENT FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Organisation income Sale of study books etc Membership fees 3,470 3,470 1,514 1,142 6,126 248 1,476 879 2,603 1514 1,142 4.612 1,514 14
CUNNINGHAM MEMORIAL CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 OTHER TRADING ACTIVITIE5 UNRESTRicfED RESTRicfED ENDOWMENT TOTAL TOTAL FUNDS FUNDS FUNDS FUNDS 2024 FUNDS 2023 Letting premises Rental income 590 7.326 7,916 590 7,326 7,916 loo 10,598 10,698 INVESTMENT INCOME UNRESTRICTED FUNDS RESTRICTED FUNDS ENDOWMENT FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Bank interest Income from bequests 3,457 22 3,479 1,209 4,666 22 4,688 745 17 762 1,209 OTHER INCOME UNRESTRicfED FUNDS RESTRicfED FUNDS ENDOWMENT FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 Grant income received Other interest received RAISING FUNDS UNRESTRICTED FUNDS RESTRICTED FUNDS ENDOWMENT FUNDS TOTAL FUNDS 2024 TOTAL FUNDS 2023 FWO envelopes 2.000 2,000 2,000 2,000 2,080 2,080 15
CUNNINGHAM MEMORIAL CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 CHARITABLE ACTIVITIES UNRESTRicfED RESTRicfED ENDOWMENT TOTAL TOTAL FUNDS FUNDS FUNDS FUNDS 2024 FUNDS 2023 General assembly assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Governance costs 16,789 764 16,789 764 18,119 847 94,932 94,932 96,191 42,735 38,044 80,779 85,780 2,525 1,620 44,991 47,516 1,620 47,919 1,560 32,663 4,280 287,359 Loss on disposal property Purchase of equipment 1,307 160.672 160 83.195 1,467 243.867 16
CUNNINGHAM MEMORIAL CONGREGATION OF THE pRE5BERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 EMPLOYEES Em lo ment costs TOTAL FUNDS 2024 TOTAL FUNDS 2023 Wages and Salaries Pension contributions 66,739 44,519 66,739 44,519 Numberof em lo ees The average number of employees, including the minister of the congregation, during the year was.. 2024 2023 Average number of employees There we no employees in receipt of employee benefits in excess of £60,000. The minister and the assistant minister of the congregation are employees of the Presbyterian Church in Ireland, which is a separate charity and has not been reflected in the employee costs above. The congregation pays an assessment to the Presbyterian Chuch in Ireland for the minister and a5SlStant minister. The following payments were made during the year: 2024 2023 Minister stipend Assistant stipend 46,220 9,135 55.355 44,519 44.519 17
CUNNINGHAM MEMORIAL CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 io PENSION COSTS The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme12009). This is a scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employer's pension contribution for the Scheme and based on the stipend paid to the minster. The Presbyterian Church in Ireland Pension Scheme {2009) is a funded scheme of the defined benefit type, providing defined benefits based on career average revalued salary. The scheme has assets held in a separately 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 24Yo 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. The contributions made by the congregation during the year were: TOTAL FUNDS 2024 TOTAL FUNDS 2023 Contributions 11,093 10,828 The congregation contributes to a defined contribution pension scheme for its other employees. The scheme and its assets are held by the National Employment Savings Trust Corporation INESTI. The pension charge represents the contributions due from the congregation during that year. TOTAL TOTAL FUNDS 2024 FUNDS 2023 Contributions 263 18
CUNNINGHAM MEMORIAL CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 li TANGIBLE FIXED ASSETS LAND & BUILDINGS EQUIPMENT TOTAL COST OR VALUATION At start of year Additions Disposals 8.625.262 212,340 8,837,602 At end of year 8,625.262 212,340 8,837,602 DEPRECIATION At start of year Provision for year Disposals At end of year NET BOOK VALUE At start of year 8,625,262 212,340 8,837,602 At end of year 8.625.262 212,340 8,837,602 12 DEBTORS 2024 2023 Gift aid recoverable Prepayments Other debtors 39,622 12,879 39,407 8,143 52,501 47,550 19
CUNNINGHAM MEMORIAL CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 13 CASH AT BANKAND IN HAND 2024 2023 No l Account Bowling Club Bowling Club Cash on Hand No 2 Account Fixed Term Deposit 2 Business Reserve 2 Catering Endowment Fund Fit For Life Friendship Hour Fixed Term Deposit I Business Reserve I 22,739 699 59 13,707 50,755 55,082 13,203 8,800 227 181,750 1,296 59 96,882 13,218 8,800 235 101,510 80,119 440 2,064 5,357 1,465 524 Parents & Toddlers pw Sportsplus Sunday School Youth Fellowship 496 1,199 5,836 615 200 356,750 310,586 14 CREDITORS: amounts falling due within one year 2024 2023 Trade Creditors Accruals Other creditors 3.982 3,020 498 7,500 7,024 1,560 1,156 9,740 20
CUNNINGHAM MEMORIAL CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 15 FUND BALANCES AND RECONCILIATION OF FUNDS BALANCE INCOME EXPENDITURE TRANSFER BALANCE AT START AT END UNRESTRICTED FUNDS General fund Property fund 223,418 500.000 196,836 (162,672) 12,028) 255,554 500,000 723,418 196,836 1162,672) 12,0281 755,554 RESTRicfED FUNDS Property Building & Repairs United Appeal & Mission Harvest Collection Harvest Event Collection Sunday School Friendship Hour Sportsplus Parents & Toddlers pw Youth Fellowship Midweek Catering Bowling Club Fit For Life 180 Men 8,325,262 103,901 123 8,325,262 124,859 42 50,375 24,417 4.853 2,125 1,317 1,737 126 1,016 4,232 129,417) 124,498) {4,853} {2,225} {1,468) {2,357} 1605) {1,073} {2,838) 1416) 1208) 115) 1898) 1309) 1765) {2,910} {1,611} 1979) 1910) {2.775} 1405) 1559) 1191) 1910) loo 1,000 385 616 235 5.836 497 1,314 199 602 13,218 1,356 1,465 5.357 440 2,708 284 394 13,203 758 227 500 3CKI 536 725 40 World Development Appeal Presbyterian Childrens Society Royal British Legion Sam Hutchinson ECM Black service CEF One Mission Society Belfast City Mission 475 25 2.435 1,586 979 907 2.654 405 559 191 910 121 8,453,780 102,386 183,195) 2,028 8,474,999 ENDOWMENT FUNDS Endowment fund 8.800 8,800 8.800 8,800 TOTAL FUNDS 9,185,998 299,222 1245,867) 9,239,353 21
CUNNINGHAM MEMORIAL CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 DECEMBER 2024 16 RELATED PARTY TRANSAcfioN One of the Trustees, the minister of the congregation received remuneration of £46,219.56 and expenses of £7,036 for acting in that capacity. Pension contributions of £11,092.75 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme12009). During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity: £16,789 for congregational assessments £24,497.50 towards the United Appeal The congregation contributed £764 towards Presbytery Assessments during the year. There were no other related party transactions. 22