First Limavad Con ation of the Presb erian Church in Ireland Recei ts and Pa ments Account Year Ended 31st December 2024 Unrestricted Restricted Endowment Fund Funds Funds Total 2024 Total 2023 Notè RECEIPTS Donations and legacies Charitable activities Other trading activities Investment income Other income Sale of fixed assets 73,207 52,748 11,073 5,755 1,107 1,620 125,955 11.073 5,755 24,089 3,613 112.720 11.372 16,409 17.783 3,635 22,982 1.993 Totsl receipts 98,182 72,303 170,485 161,919 PAYMENTS Cost of raising fvnds Charitable activities Property enhancement 570 85,823 570 165,222 570 125,883 4,777 79,399 Total payments 86.393 79,399 165,792 131,230 Net receipl l (payment) 11,789 17,096 4,693 30,689 Transfers belween funds (551 55 Net payment I receipt 11,734 17,041) 4,693 30,689 Bank and cash brought fOard 40,772 92.225 132.997 102.308 Bank and cash carrled foThvard 52,506 85,184 137,690 132,997 Approved by the Kirk Session al a meeting on and signed on its behalf by Mr O Murphy Clerk of Session Rev Drewe Mcconnell Minister
First Limavad Con ation of the Presb rian Church in Ireland Statement of Assets and Liabilities as at 31st December 2024 Note Unrestricted Restricted Endowment Fund Funds Funds Total 2024 Total 2023 Bank accounts Listed Investments Investment Land Property 52.506 85,183 16,979 137.689 524,645 104,000 265,000 132,997 434,314 104,000 265.000 507,666 104,000 265.000 52,506 387,162 611,666 1,031,334 936,311 Approved by the Kirk Session at a meeting on and signed on ils behalf by Mr O Murphy Clerk of Session Rev Drewe Mcconnell Minister
Flrst Limavad Con re ation of the Presb terlan Church in Ireland Notes to the Financial Statements for the ear ended 31st December 2024 1 Accountin Policie5 The charity trustees have elected lo prepare accounts on a receipts and payments basis in accordance with section 6413} of the Charities Act INI) 2008. 2 Fund Accountin Unrestricted funds are income funds which can be spent on the congregation's general purposes, or are reserved for a particular purpose by the Iruslees. Restricted funds are income funds for a specific purpose intended by the donor{sl. Congregational restricted funds include the following Property Fund Fellowship Fund Various specific funds for individual appeals and missions. Restricted funds of organisations associated with the congregation Snclude Girls Brigade Youth Group Men's Fellowship Boys Brigade Sunday School Bowling Club Presbyterian Woman Endowment funds are capit81 funds which are either permanently retained or expendable in certain circumstances according to the terms of the original bequest or gift. Income from endowment funds may be unrestricted or r8slricted according to the purpose of the endowment. 3Con re alional and or anisational funds recei Is excludin sale of ro ert Con ational Unrestricted Restricted Endowment Fund Funds Funds anisational Restricted Funds 2024 Donations and legacies Charitable activities Other trading activities Investment income Other income 73,207 48,045 2,212 5,755 1.082 1,620 4,703 8,861 22,982 1,993 25 98,182 58,714 13,589 Con atlon81 Unrestricted Restricted Endowment Fund Funds Funds Or anl$8t5onal Restricted Funds 2023 Donations and legacies Charitable activities Other trading activities Investment income Other income 74,656 34,245 1,987 16,409 832 3,820 9,385 16,929 3,635 21 95,220 53,473 13,226
Flrst Limavad Con re ation of the Presb terlan Church in Ireland Notes to the Financial Statements for the ear ended 31st December 2024 4Con re ational and or anisalional funds ments excludin urchase of Fixed Assets Congregational Unrestricted Reslricled Endowment Fund Funds Funds Organisational Restricted Funds 2024 Cost of raising funds Charitable activities Property enhancement 570 85,823 66.086 13,333 86,393 66,066 13.333 Congregational Unrestricted Restricted Endowment Fund Funds Funds Org8nisational ReslriGted Funds 2023 Cost of raising funds Charitable activities Property enhancement 570 82,699 28,712 4.777 14,472 83,269 33,489 14,472 5 Transfèrs betwe8n funds Transfers betwe8n funds in 2024 were not material amounts. The funds held in the general bank account are as follows at the end of2024 General account 40878 United Appeal 50 Designated fund 11628 52556 vement durin 2024 enin Balance Closin Transfers In Balance Recei ments Congregational restricted funds 87,414 58,714 (66,086) 55 80,117 Organisalional restricted funds 4,811 13,589 13,333 5,067 92,225 72,303 (79,399> 55 85,184 7 Listed Investments Listed investments are Ststed at market value as at the year end date. 2024 212.856 311,789 524,645 2023 167,563 266,751 434,314 HSBC Holdings plc General investment account
First Limavad Con ation of the Presb rian Church in Ireland Notes to the Financial Statements for the ear ended 31st December 2024 8Pro ert The Church building, ancillary halls, graveyard and carpark within the curtilage of the Church are deemed to be Heritage Assets as defined by the Charities SORP IFRS102). These are excluded from property on the Statement of Assets and Liabilities as information on fair value is not readily available and cannot be obtained at a cost commensurate with the benefit lo users of the accounts and the congregation. Property recognised comprises the Manse at Church Street. Limavady, valued at cost. Investment land is stated at market value. 9 Reconciliatio count to Statement of Assets and Liabiltie 2024 net receipts l {paymentsl 4,693 Transfer to g8n8ral investment Unrealised gain on listed investments 90,331 Increase in nel assets 95,024 Opening nel assets 936,311 Closing net assets 1,031,335 10 Related art transactions Other than the Ministerfs stipend and expenses no trustee or person related to a truslee had any personal inleresl in any contract or Iransaclion entered into by the charity during the year. 11 Governan cos There are no governance costs as both the trustees and independent reviewer provide services on a voluntary basis.