Charlty Registration No. 105562 (Northern Ireland) ids. chartered accountants PORTSTEWART PRESBYTERIAN CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants CONTENTS Page Legal and adrninistrative information Trustees, report Independent examiner's report Statement of financial activities Balance sheet 10 Notes to the financial statements
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr B Hall Mr N Lyttle Miss J Ros5 Mr D Turbilt Mr P O'Neill Mr J Jack Miss R Hamilton Mr S Moore MrA Friar Ms H Hamilton Mr R Gawne Mrs C Martin Rev S Morrow Mr R Crooks {Appointed 26 November 2024) (Appointed 24 March 20241 (Appointed 24 March 20241 (Appointed 24 March 20241 Mrs J Watters Mrs S Armilage-McPeak Mrs H Davies Charity number 105562 Independent examlner IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG Bankers Danske Bank 22 The Diamond COLERAINE Co Londonderry BT52 1 DE Solicitors Macaulay Wray 35 New Row COLERAINE Co Londonderry BT52 1AH
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" Objectlves and activities The charitable purpose of the congregation is the advancement of religion. Portslewart congregation of the Presbyterian Church is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Reformed Church within the wider body of Christ is grounded in the Scriptures and exists lo love and honour God through faith in His Son and by the power of His Spirit, and to enable her members to play their part in fulfilling God's mission to our world. The congregation's rnission purpose is lo proclaim Christ to a11 ages, for all ages, with our lips and with our lives. Our vision is, by the grace of God, to be an inclusive, welcotning community of Christ's people of all ages, which.. is increasingly characterised by love for God, and love and concem for others,. is committed to the historic Christian gospel as revealed in the Sible,. is levant to people of this time and place. The congregation aims to live out its Mission and Vision as a fan3ily of Gods people by being.. A Covenant Community.. where our relationships are rooted in the promises of God by living faithfull toward him and loward one another,. An Intergenerational Community.. where adults intentionally take the lead lo gngago with, encourage and nurture younger members to maturity in Christ,. An Outward looking Community.. where we want the blessings of God that belong to us in the gospel to become blessings for others beyond the bounds of our community.. As a congregation of the Presbyterian Church in Ireland, we believe that the Bible is the supreme authority over all we do, and that the Westminster Confession of Faith, along with the Larger and Shortei Catechisms set out what we understand the Bible teaches on key rnatte of Christian faith ancl practice. The congregation meets for worship every Sunday and visitors are welcome to join. The Sacrament of the Lords Supper is observed on twelve occasions during the year and all those who have been baptised and who have made a profession of faith in the Lord Jesus Christ are admitted to the Lord's Supper. The congregation holds regular bible study meetings and has a wide range of organisations including.. Sunday School ffreasure Hunters) Youth Club Mothers and Toddlers (Little Treasures) Bowling Club Presbyterian Women Girls, Brigade Bible Study and Prayer Time Youth Fellowship The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and performance Worship and prayer The congregation normally meets for worship each Sunday at 10.30am and a Sunday Evening Praise and Prayer Service is held twice monthly. During the week the Bible Study provides an opportunity for members to meet together for fellowship, to study the scriptures and for a time of prayer. As well as our regular services during the year we acknowledged God's gift of new life with one Sacrament of Baptism and gave thanks for faithful seNices and sought to comfort those who had been bereaved during the year. At 31 December 2024 there were 181 communicant members and 235 families connected with the congregation. The average week attendance al morning worship is 130. Pastoral care Members of the congregation who are unable to allend church due to sickness or age are visited on a regular basis by the minister, elders or by one of the congregation's pastoral visitors. Mlssion and outreach At a local level the congregation seeks to support and equip all members to share their Christian faith, on a daily basis through their own lives and interaction with family, neighbours, work colleagues and during leisure activity. Some members have been involved in short-term mission teams throughout the country and overseas. Retiring collections and offerings were also taken up for appeals throughout the year. On a wider basis, our congregation supports the United Appeal fund. United Appeal provides financial support at home and overseas, assisting congregations with the deployment of locally based staff, enables churth planting, provides grant support for the upkeep of Church premises, assists with the running costs of Union Theological College {the Church's training college for ministry students}, and financially supports congregations in the area of worship, discipleship, global mission, outreach, leadership and pastoral care. The congregation also contributes to the denomination's annual World Development Appeal and any other special appeals. Presbytery The congregation was represented at the regular meetings of Presbytery by our minister and one of the elders. This provides an important link between the congregations and the wider structures of the church. General Assembly The minister and one of our elders were nominated to attend the meeting of the General Assembly of the Presbyterian Church in Ireland held in Assembly Buildings, Belfast, in June 2024.
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Organisations We briefly summarise the activity of our organisations below.. Sunday SchoOlreasUre Hunters- Weekly on a Sunday., Bible Class- weekly on a Sunday., Youth Fellowship - fortnighlly on a Sunday., Youth Club (Blaze and Chill} - weekly on Saturday during school term times., Mothers & toddlers- weekly on Wednesday., Bible study- weekly on Thursdays., Presbyterian Women- monthly on 2nd Tuesday., Girls, Brigade- weekly on Wednesday., Bowling Club- weekly on Mondays and Thursdays Volunteers The Trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees and helping with organisalions and other church activities. Financial review During the current financial year the church generated a surplus of £12,50712023 Deficit.. £20,073). As at the year end the balance sheet also show&d healthy net assets of £74,728 {2023.' £62,221). The congregation also holds externally managed investments of £143,670 (2023.. £145,537}. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Structure? governance and management The church is an unincorporated charity.
PORTSTEWART PRESBYTERIAN CHURCH ids. Chartered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees who served during the year and up to the dale of signature of the financial statements were.. Mr J Wright (Resigned 28 August 2025) Mr B Hall Mr N Lyltle Miss J Ross Mr D Turbitl Mr P O'Neill Mr J Jack Miss R Hamilton Mr S Moore MrA Friar Ms H Hamilton Mr R Gawne Mrs C Martin Rev S Morrow Mr R Crooks Mrs J Watlers Mrs S Armilage-McPeak Mrs H Davies {Appointed 26 November 2024) (Appointed 24 March 2024) (Appointed 24 March 2024) (Appointed 24 March 2024) None of the trustees has any beneficial interest in the company.
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The Kirk Session The trustees of the congregation are the members of its Kirk Session. Under the congregation's governing document, The Code, the book of the constitution and government of the Presbyterian Church in Ireland, the Kirk Session seeks to watch over and promote the spiritual interest of the congregation and of persons not connected with any congregation who are within its bound5. It ensures pastoral care 15 in place in the congregation and seeks lo further the contribution of the Church to Christian witness and service in the local community. The Kirk Sessions has delegated to its Congregational Committee the temporal affairs of the congregation including administering all funds and property belonging to the congregation. Members of the Kirk Session are ex-officio members of the Congregational Committee. The Kirk Session consists of the ordained minister and the ruling elders of the congregations. All members are entitled to propose, speak and exercise equal votes at meetings, except that the Moderator, the ministers in active duly in the congregation, has no deliberative but only a casting vote. Slated meetings of the Kirk session are held on the third Tuesday of each month excluding July and August. To be chosen for the office of the eldership in the congregation a person musl be a voting member and a regular attendant on its ordinances The selection of those proposed lo be called to the office can be either by the congregation or by the Kirk Session. Members are elected if they obtain two-thirds of those who vote. Presbytery Under the Presbyterian Church in Ireland form of governance the corporate oversight of a congregation is the responsibility of a Presbytery which superintends generally the spiritual and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterian Church in Ireland. Portstewart congregation of the Presbyterian Church has been assigned to the Coleraine and Limavady Presbytery of the Presbyterian Church in Ireland. The membership of the Presbytery consists mainly of the active ministers of congregations assigned to it by the General Assembly, minsters who have retired from active duty and an elder appointed by the Kirk Session of the congregation. The General Assembly The General Assembly is the supreme court of the Church, representing in one body the whole Church and acting as its supreme legislative, adminislralion and judicial aulhorily, in dealing with all matters brought before it. The General Assembly is normally constituted during the first week in June for worship and to conduct ils business. At the end of business, il is dissolved. The membership of the General Assembly consists mainly of the active ministers of each congregation, retired minsters and a representative elder appointed by the Kirk Session of each congregation.
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Public benefit statement The Presbyterian Church in Ireland meets the public benefit requirement by providing benefit to its members and the general public by making known the Christian Gospel of the Lord Jesus Christ through the advancement of religion. The direct benefits which ff ow from the purposes of the Church include the gaining of an understanding in Christian beliefs as set out in the Bible and in the Church's subordinate standards (the Westminster Confession of Faith and the Shorter and Larger Catechisms) leading to spiritual and moral development and opportunities for response to Bible leaching. In turn, this framework leads lo practical expressions of Christian beliefs and standards in the local community such as through the care of those in need (including the sick, disabled and bereaved). Generally the above benefits are delivered locally by congregations and their members, or are facilitated through presbyteries or are organised and delivered centrally. Local delivery is facilitated by central resources in almost all cases. Public access is made known through the use of noticeboards, printed material, press advertisement, websites, and social media or in other ways. The benefits are demonstrated through regular evaluation of the services and informal and ad-hoc feedback from members, their families, and members of the public. The purpose does not lead lo harm. The only private benefit flowing from our purpose is related lo Ministers, Missionaries, DeaGonesses, Irish Mission workers and Lay Agents who receive benefits as a result of their holding office or employment. However, this is incidental and necessary in order to further our charitable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families, other individuals that the Presbyterian Church in Ireland is in direct and indirect contact with, the community in which pastoral services are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement with and support for both Christian and other secular organisations, charities and individual members of the public. The Kirk Session has had regard to the Charity Commissions Public benefit requirement statutory guidance. The trustees, r port was approved by the Board of Trustees. MrRG Trustee ne 29 October 2025
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PORTSTEWART PRESBYTERIAN CHURCH I report lo the trustees on my examination of the financial statements of Portstewart Presbyterian Church (the charity) for the year ended 31 December 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2008 (the 2008 Act). 11 is my responsibility to- examine the accounts under section 65 of the Charities Act.. follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9}(bl of the Charities Act., and state whether particular matters have come to rny attention. Basis of independent examiner's report I have examined your charity accounts as required under section 65 of the Charities Act and my exarnination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 6519}Ib} 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 charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe.. 1. That accounting records were not kept in accordance with section 63 of the Charities Act 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Allson Wallace IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG Dated.. 29 October 2025
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Investments 145,266 32,726 11,591 2,021 177,992 11,591 4,152 152,863 13,643 10,768 1,854 166,506 10,768 3,689 2,131 1,835 Totsl income 147,397 46,338 193,735 154,698 26,265 180,963 Expenditure on: Charitable activities 163,235 18,482 181,717 180.504 18,282 198,788 Totsl expenditure 163,235 18,482 181,717 180,504 18,282 198,786 Net incomellexpenditure) 115,838} 27,856 12,018 {25,806) 7,983 (17,823) Transfers beeen funds 19,810 (19,321} 489 12,250) 12,2501 Net movement in funds 3,972 8,535 12,507 {25,806) 5,733 (20,0731 Reconciliation of funds: Fund balances at 1 January 2024 34,233 27,988 62,221 60,039 22,255 82,294 Fund balances at 31 De¢ember 2024 38,205 36,523 74,728 34,233 27,988 62,221 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants STATEMENT OF ASSETS AS AT 31 DECEMBER 2024 2024 2023 Notes Current assets Cash at bank and in hand 74,728 62,221 Net current assets 74,728 62,221 Net assets excluding pension liability 74,728 62,221 The funds of the charity Reslricled income funds Unrestricted funds 14 36,523 38,205 27,988 34,233 74,728 62,221 Independently managed investment portfolio 143,670 145,537 The financial statements were approved by the trustees on 29 October 2025 Mr D Turbitt Trustee MrRG Truste ne 10-
PORTSTEWART PRESBYTERIAN CHURCH ids. Chartered accountants NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity Information Portstewart Congregation of the Presbyterian Church in Ireland is an unincorporated charity. The registered office is 3 Henry O'Neill Heights, Portstewart, BT55 7UD. 1.1 Basis of preparatlon The financial statements have been prepared in accordance wilh the Charities Act 2008. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 20191" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial slalements are prepared in sterling, which 15 the functional currency of the Charity. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going Concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Reslricled funds are subject to specific conditions by donors as to how they may be used. 1.4 Income Income is recognised when the charity is legally entitled to il after any performan conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are recogfjisAd on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.5 Expenditure Expenses are recognised when they are paid. 11
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued} 1,6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments Wlth original maturities of three months or less, and bank overdrafts. Bank overdrafts are Shown within borrowings in current liabilities. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.7 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benef5ts are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.8 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are rerognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 12
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Donations and legacies Unrestricted Restricted funds funds Total Unrestricted Restricted funds funds Total 2024 2024 2024 2023 2023 2023 Donations and gifts 145,266 32,726 177,992 152,863 13,643 166,506 Donations and gifts Freewill offering Church collections Income tax refunds Special collections United Appeal Presbyterian Orphans and Children Society World Development Contributions towards heat and light Building fund donations Other 96,372 96,372 7,538 19,841 3,851 11,491 109,565 7,358 109,565 7,358 7,538 19,841 3,851 4,359 12,718 4,359 12,718 11,491 50 3,335 50 3,335 200 3,205 200 3,205 1,954 1,954 13,697 19,863 2,401 2,401 12,070 14,630 13,697 12,070 1,573 19,863 13,057 145,266 32,726 177,992 152,863 13,643 166,506 Income from charitable a¢tivltles Restricted funds 2024 Restricted funds 2023 Glrls Brigade Other income 5,546 5,743 Prebyterian Women Other income 6,045 5.025 11,591 10,768 13-
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Investments Unrestricted Restricted funds funds Total Unrestricted Restricted funds funds Total 2024 2024 2024 2023 2023 2023 M & G Charifund Interest receivable 1,979 152 1,979 42 3,958 194 1,835 1,835 3,870 2,131 2,021 4,152 1,835 1.854 3,689 14-
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PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs Support Governance costs costs 2024 Support Governance costs costs 2023 Heat and Light Insurance Rent and Rates Printing and advertising Telephone Repairs Sundry, Organ tuning, bank fees 12,179 6,220 3,296 4,323 893 6,814 12,179 6,220 3,296 4,323 893 6,814 12,724 5,777 3,060 4,493 1,642 8,914 12,724 5,777 3,060 4,493 1,642 8,914 8,558 8,558 4,476 4,476 Audit fees 660 660 600 600 42,283 660 42,943 36,148 600 44,813 Analysed beeen Charitable activities 42,283 600 42,883 36,148 600 44,813 Governan costs includes payments to the auditors of £66012023- £6001 far audit fees. Net movement in funds 2024 2023 The net movement in funds is stated after chargingllcrediting}'. Fees payable for the independent examination of the charity's financial statements 660 660 Employees The average monthly number of employees (including the minister) during the year was.. 2024 Number 2023 Number Employment costs 2024 2023 Wages and salaries Social security costs Other pension cost5 72,503 4,461 9,943 77,561 10,019 10,685 86,907 98,285 There were no employees whose annual remuneration was more than £60,000. 16-
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountonts NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 11 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profil or loss in respect of defined contribution schemes 9,943 10,685 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 12 Unrestrl¢ted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incomlng resources Resources expended Transfers At31 December 2024 General funds 34,233 147,397 1163,2351 19,810 38,205 Previous year: At 1 January 2023 Incomlng resources Resources expended Transfers At31 December 2023 General funds 60,039 154,698 1180,5041 34,233 13 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 December 2024.. Current assetsllliabilitiesl 38,205 36,523 74,728 38,205 36,523 74,728 17-
PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Analysis of net assets between funds (Continued) Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 December 2023: Current assetsl{liabilitiesl 34,233 27,988 62,221 34,233 27,988 62,221 14 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement in funds Balance at Net Incoming Net Resources Balance at l January 2024 resources expended 31 December 2024 McNeary Bequest Building & Maintenance Presbyterian Women Girls Brigade Sunday School Harship Fund 17,878 609 4.222 3,816 1,237 227 1,979 7,112 414 19,857 7,721 4,836 3,770 (46) (1,2371 313 540 27,988 9,818 (1,2831 36,523 15 Related party transactions During the year the charity entered into the following transactions with related parties.. Rev S Morrow, minister of the congregation is also a trustee. 18-