Charity Registration No. NIC105565
DRUMREAGH PRESBYfERIAN CHURCH
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

DRUMREAGH PRESBYTERIAN CHURCH
CONTENTS
Page
Charity infomiation
ststement of Trustees responsibilities
Independent examinerfs report
ststement of financi81 activities
Balan￿ sheet
Notes to the financial statements
6-14

DRUMREAGH PRESBYfERIAN CHURCH
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Rev. Richard Murray
Mr J Walker
Mr W Futton
Mr J Christie
Mr C Nevin
MrCTScott
Mr T J Craig
MrRJHenry
Mr R Eakin
Mr D McBride
Mr James Gault
Mr V¥llliam Scott
Charity number
NIC105565
Prlnclpal address
104 Bann Road
Ballymoney
Co. Antrim
BT53 7NA
Independent examiner
Dr R I Peters Gallagher, OBE, FCA
Moore (Nl) LLP
32 Lodge Road
Coleraine
Co Londonderry
BT52 1NB
Bankers
Danske Bank
6 High Street
Ballymoney
Co. Antrim
BT53 6AD
Solicitors
Thomas Taggart & Sons Ltd
27 Church Street
Ballymoney
County Antrim
BT53 6HS

DRUMREAGH PRESBYfERIAN CHURCH
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
The Church Session is responsible for preparing the Trustees. Report and the Finanaal Statements in accordance
with applicable law and regulations.
The law applicable to charities in the Northem Ireland requires the Church Session to prepare financial statements
for each financial year. Under that law the Church Session has prepared the financial statements in accordance with
Generally Accepted Accounting Practice in the Unrted Kingdom (accounting standards issued by the Financial
Reporting Council in the UK, including Charities SORP (FRS 102) "Accounting and Reporting by Charities..
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 102)" and promulgated by the
Institute of Chartered Accountants in the United Kingdom and United Kingdom Law) Under that law the Church
Session must not approve the financial statements unless they are satisfied that they give a true and fair view of the
state of the affairs of the charity and of the statement of finanGial activities of the charity for that period.
In preparing the financial ststements the Trustees are required to:
select suitable accounting policies and then apply them consistently
make judgements and estimates that are reasonable and prudent
state whether the financial statements have been prepared in accordance with applicable Accounting
Standards and identify the standards in question, subject to any material departures being disclosed and
explained in the financial statements., and
prepare the financial statements on the golng concem basis unless it is inappropriate to presume that the
Funds will continue in operation.
The Church Session is responsible for keeping accounting records that a￿ sufficient to show and explain the
Parish's transactions and disdose wth reasonable accuracy at any time the financial position of the Parish and
enable them to ensure that the financial ststements comply with the Charities Act (Northem Ireland) 2008, the
Charity (Accounts and Reports) Regulations (Northem Ireland) 2015 and the provision of the Constitution of the
Presbyterian Church in Ireland. They are also responsible for safeguarding the assets of the Church and hence for
taking reasonable steps for the prevents.on and detection of fraud and other t￿egularitIeS.
Statement as to dlsclosure to our examiners
In so far as the Trustees are aware at the timing of approving our Trustees, annual report:
- there is no relevant audit information of which the charitable company's auditor is unaware; and
the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant
infonnation and to establish that the Church's independent examiner is aware of that infomation.
Independent Examiners
Dr R I Peters Gallagher, of, Moore (Nl) LLP, have indicated her ¥￿IlIngneSS to continue in office. and a resolution
conceming her reappointment will be proposed at the Trustees meeting on 30th May 2024.

DRUMREAGH PRESBYTERIAN CHURCH
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF DRUMREAGH PRESBYTERIAN CHURCH
I report on the accounts of the Church for the year ended 31 December 2023, which are set out on pages 4 to 14.
Respective responsibilities of Trustees and examiner
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities
Act (Northem Ireland) 2008.
It is my responsibility to.
examine the accounts under section 65 of the Charities Act
(li) follow the procedures laid dovffl in the general d1￿ctionS given by the Charity Commission for Northem
Ireland under section 65(9}(b) of the Charities Act
(iii) to state whether particular matters have come to my attention.
Basls of Independent examinerfs report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was
carried out in accordance wtth the general Directions given by the Chartty Commission for Northern Ireland under
section 65{91(b) of the Charities Act. The 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 materi81 matters have come to our attents'on giving us 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 wth those accounting records
3. That the accounts do not comply with the accounting requirements of the Charities Act
4. That there is further infomiats'on needed for a proper understanding of the accounts to be reached.
Independent examinerfs statement
Since your charily's gross income ex￿eded £250.000 your examiner must be a member of a listed body. I can
confirm that am are qualified to undertake the examination because l am registered as a member of Chartered
Accountants Ireland which is one of the listed bodies.
I have completed my examination and have no concems in respect of the matters (1) to (4) listed above and, in
connection wilh following the Directions of the Charity Commission for Northem Ireland, I have found no matters
that require drawing to your attention.
3 Px l-wr
Dr R I Peters Gallagher, OBE, FCA
Chartered Accountant
Moore (Nl) LLP
32 Lodge Road
Coleraine
Co Londonderry
BT52 1NB
Dated: 15 October 2024

Otj? C)rJ3
>3 C
co￿￿Of£?
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DRUMREAGH PRESBYfERIAN CHURCH
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Notes
Fixed assets
Tangible assets
11
2,800,198
2,831,122
Current assets
Debtors
Cash at bank and in hand
12
43,903
109.405
38,786
233,257
153,308
272,043
Creditors: amounts falling due within
one year
13
3,486
46,124
Net current assets
149.822
225,919
Total assets less current liabilities
2,950,020
3,057.041
Credltors: amounts falling due after
more than one year
15
{344,625)
Net assets
2.950,020
2,712,416
The funds of the Church
Restricted income funds - general
Restricted income funds - designated
Unrestricted funds
16
17
2,854.014
9,000
87,006
2,263,063
10,000
439,353
2,950.020
2,712,416
Dromore Presbyterian Church has merged with Drumreagh Presbyterian Church and was dlssolved at 31110122. On
7111122 £122,726.72 was transferred to Drumreagh Presbyterian Church - £25,601 of this is unrestricted funds.
£10,000 is to be held by Drumreagh for the upkeep of Moody Grave. The remainder was transferred to Drumreagh
Building Fund.
The balance of £18,699.07 in Progressive Building Society from Dromone Presbyterian Church was transferred
along with interest received of £124.29 to Drumreagh Presbyterian Church Building Fund in the year ended 311121
23. The Church Assets including the Church, hall and land V￿re held by Dromone Presbyterian Church. When
these were sold, the proceeds of £130.000 vRre donated to Drumreagh Presbyterian Church in year ended 311121
23.
financial statements were approved by the Trustees on
er 2024
Rev. Richard Murray
Trustee
MrRJHenry
Trustee

DRUMREAGH PRESBYfERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
Charity inforniation
Drumreagh Presbyterian Church is a unincorporated entity govemed by a Constitution.
1.1 Accounting convention
These accounts have been prepared In accordance with FRS 102 'The Financial Reporting Slandard
applicable in the UK and Republic of Ireland. ('FRS 102°), °Accounting and Reporting by Charities" the
Statement of Recommended practi￿ for charities applying FRS 102, the Charities Act {Northem Ireland)
2008 and UK Generally Accepted Accounting Practice as rt applies from 1 January 2015. The Church is a
Public Benefrt Entity as defined by FRS 102.
The financial ststements have departed from the Chartties (Accounts and Reports> Regulations 2008 only to
the extent required to provide a true and fair view. This departure has involved following the Ststement 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 statements are prepared in steding, which is the functional currency of the Church. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been p￿pared under the historical cost convention, Imodified to include the
revaluation of freehold properties and to include investment properties and ￿rtain financial instruments at fair
value]. 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 Church
has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees
continue to adopt the going concem basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable
objectsves.
Restricted funds are subject to specific condstsons by donors or grantors as to how they may be used. The
purposes and uses of the restricted fvnds are set out in the notes to the finanaal statements.
Endowment funds are subject to specffic conditions by donors that the capitsl must be maintsined by the
Church.
1.4 Income
Income is recognised when the Church is legally entitled to it after any performance conditions have been
met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Church has been notified
of the donation, unless perf0rrnan￿ 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.
Legacie5 are recognised on receipt or othetwrse if the Church has been notifjed 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
These accounts for the year ended 31 December 2023 for Drumreagh Presbyterian Church are prepared in
accordance with FRS 102, The Financial Reporttng Stsndard applicable in the UK and Republic of Ireland.

DRUMREAGH PRESBYfERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
AGGounting policies
(Continued)
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequent5y measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases=
Freehold land and buildings
Fixtures and fittings
20A reducing balance
4% - 20% ￿dUcIng balance
The gain or loss arising on the disposal of an asset is determined as the differen￿ be￿een the sale proceeds
and the carying value of the asset, and is recognised in the statement of financial activities.
1.7 Impalrment of fixed assets
At each reporting end date, the Church reviews the carying amounts of its tangible assets to detennine
whether there is any indication that those assets have suffered an impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the Impaimient
loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-tem Ilquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in Gu￿ent liabilities.
1.9 Financial instruments
The Church has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12
'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Church's balance sheet when the Church becomes paty to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, Vlryth the net amounts presented in the financial ststem8nts, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
Basic financlal assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction. where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.

DRUMREAGH PRESBYfERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabiltties, including creditors arKI bank loans are initially recognised at transaction price unless
the arpngement constitutes a financing transaction, where the debt instrument is measured at 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 a￿ subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired Sn the ordinary cours8 of
operations from suppliers. Amounts payable a￿ dassified as current liabilities rf 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 Church's contractual obligations expire or are discharged or
cancelled.
1.10 Employee benefits
Temiination benefits are recognised immediately as an expense when the Church is demonstrably committed
to temiinate the employment of an employee or to provide temiinats'on benefits.
Critical accounting estlmatss and judgements
In the application of the Church's accounting policies, the Trustees are required to make judgements,
estimates and assumptions about the carying 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 a￿ considered to be relevant. Actual ￿SU￿$ may differ from these estimates.
The estimates and underlying assumptions are revIev￿d on an ongoing basis. Revisions to accounting
estimates are recognised 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 ￿Vision affects both current and future
periods.
InGome from charitable actlvltles
Restricted
funds
2023
Restricted
funds
2022
Charitable rental income
700
700
Income from investments
Unrestricted Restricted
funds
funds
2023
2023
Total Unrestricted Restricted
funds
funds
2022
2022
Total
2023
2022
Interest receivable
1,032
1.116
494
315
809

DRUMREAGH PRESBYfERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Donations and legaGies
Unrestricted Restricted
funds
funds
general
Total
2023
Total
2022
Donations and gifts
Other
163.439
163,439
160,248
134,765
186,697
160,248
163,439
160,248
323,687
321,462
For the year ended 31 December 2022
134,765
186,697
321,462
Other income
Unrestrlcted Restricted
funds
funds
2023
2023
Total Unrestricted Restricted
funds
funds
2022
2022
Total
2023
2022
Released from
endowment funds
Net gain on disposal of
tangible fixed assets
Other income
1,000
1.000
176,237
21.381
176,237
22,314
933
24
9,438
9,462
933
198,618
199,551
24
9,438
9,462

DRUMREAGH PRESBYfERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Charitable activities
2023
2022
Staff costs
Depreciation and impaiment
Rental propety expenses
Missions and other groups
Repairs and maintenance
Insuranc8
Heat and Light
Admin costs
stationery and printing
Rates
Financial charges
General expenses
Other charitable expenditure
87,928
82,237
490
43.371
9.227
6,081
15,417
3,962
2,345
2,533
18,932
30,114
3,636
69,002
82,110
2,763
45,286
26,508
5,621
13,312
5,589
3,183
2.045
17,148
24,558
306,273
297,123
306,273
297,123
Analysls by fund
Unrestricted funds
Restricted funds - designated
Restricted funds - general
168,501
1,000
136.772
306,273
For the year ended 31 December 2022
Unrestricted fijnds
Restricted funds - general
139,721
157,402
297,123
Trustees
None of the Trustees (or any persons connected with them). other than Rev. Richard Murray, received any
remuneration or benefits from the Church during the year.
Employees
The average monthly number of employees during the year was:
2023
Number
2022
Number
10-

DRUMREAGH PRESBYTERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Employees
(Continued)
Employment costs
2023
2022
Wages and salaries
87,928
69,002
There were no employees whose annual remuneration wps more than £60.000.
Drumreagh Presbyterian Church has one employee vthich is the Music Coordinator. Staff costs include the
cost of the Music Coordinator, the ministers, wages and caretaker costs. Although the wages of are paid by
Dnjmreagh Presbyterian Church, the minister of the church is an employee of the Presbyterian Church in
Ireland, and is therefore not reflected in the employee numbers of Drumreagh Presbyterian Church.
10 Taxatlon
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Tanglble flxed assets
Ffeehold land Fixture5 and
and buildings
fittings
Total
Cost
At 1 January 2023
Additions
Disposals
2,890,272
29,254
(8,082)
235,934 3,126,206
30,142
59,396
{8,082)
At 31 December 2023
2,911,444
266,076 3,177,520
Depreclation and Impairnient
At 1 January 2023
Depreciation charged in the year
208,244
52,609
86,841
29,628
295,085
82,237
At 31 December 2023
260,853
116,469
377,322
Carrying amount
At 31 December 2023
2.650,591
149,607 2,800,198
At 31 December 2022
2,682,028
149,094 2,831,122
12 Debtors
2023
2022
Amounts falling due Wbthin one year..
Trade debtors
43,903
38,786
11

DRUMREAGH PRESBYTERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
17 Restricted funds - designated
These are restricted funds which are material to the Church's activities.
At 1 January
2023
Incoming
resources
Resources
expended
At31
December
2023
10,000
{1,000)
9,000
Previous yèar:
At 1 January
2022
Incoming
resources
Resources
expended
At31
December
2022
10.000
10,000
18 Analysis of net assets between funds
Unrestrl¢ted
funds
Restricted
funds
designated
2023
Restrfcted
funds
Total
2023
2023
2023
Fund balances at 31 December 2023 are represented by:
Tangible assets
Current assetsl(liabilities)
2,800,198
53,816
2,800,198
149,822
87,006
9,000
87,006
9,000
2.854,014
2.950.020
Unrestricted
funds
Restrlcted
funds
designated
2022
Restrlcted
funds
Total
2022
2022
2022
Fund balances at 31 December 2022 are represented by:
Tangible assets
Current assetsl{liabilities)
Long term liabilities
2,831,122
1223,434}
(344.625)
2,831.122
225,919
1344,6251
439,353
10,000
439.353
10,000
2,263.063
2,712,416
13-

DRUMREAGH PRESBYTERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
19 Unrestricted funds
The income funds of the charity include the following designated funds which have been set aside out of
unrestricted fvnds by the trustees for specffic purposes:.
- £10,000 held by Drumreagh for the upkeep of Moody Grave.
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
At31
December
2023
General ftjnds
439.353
165,404
1168,501)
(349,250)
87,006
Previous year:
At 1 January
2022
Incoming
resources
Resources
expended
Transfers
At31
December
2022
General funds
2,475,039
160.884
(139.721) (2,056,849)
439,353
20 Analysls of changes in net fundsl(debt)
At 1 January
2023
Cash flows At 31 De¢ember
2023
Cash at bank and in hand
233,257
(123,852)
109.405
Loans falling due within one year
Loans falling due after more than one year
138,292
(344,625)
38,292
344,625
(149,660)
259,065
109,405
14-