an KILLYMURRIS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY FOR THE YEAR ENDED 31- DECEMBER 2024 Unrestricted Funds Restricted Funds Endowmenl Funds Total Fund5 2024 Total Funds 2023 Notes Income from: Donations and legacies Charitable activities Investment income Other income 136,116 316J47 44,703 417 84,624 452,463 44,703 3,841 85,090 200,514 27,616 5,041 3,896 1244 466 2,180 Total income and endowments 137,826 446,091 2,180 586,097 237,067 Expenditure OD: Cost of raising funds Charitable activities Other expenditure Renovation costs 790 104,415 9,177 1.198 34,118 15240 374.712 1,988 138,533 24,417 374,712 2,087 140,372 25,064 18,901 Total expenditure 114J82 425268 539,650 186,424 Net income 23,444 20,823 2,180 46,447 50,643 Transfers between funds Revaluation of fixed assets 10 13 (1,485) 1,485 176,536 176,536 802,149 Net movement in funds Reconciliation of funds: Total funds brought fonvard 21,959 198,844 2,180 222,983 852,792 172,725 3,660,054 48,930 3,881,709 3,028,917 Total funds carried forTrvard 194,684 3,858,898 51,110 4,104,692 3,881,709 151 Page
Presbyter an KILLYMURRIS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND BALANCE SHEET AS AT 31- DECEMBER 2024 Unrestrieted Funds Restricted Funds Endowment Funds Total Funds 2024 Total Funds 2023 Notes Fixed assets Tangible fixed assets Investments 13 3,733260 3,733,260 51.110 3,556,724 48,930 14 51.110 Total fixed assets 3,733,260 51,110 3,784,370 3,605,654 Current assets Debtors and prepayments Cash at bank and in hand 15 22.083 177.107 56J93 150.270 78,476 327.377 16 276,055 Tolal current assets 199,190 206,663 405,853 276,055 Current liabfilities Creditors due within one year 17 4,506 81,025 85,531 Total current liabilities 4,506 81,025 85,531 Net current assets 194.684 125.638 320J22 276,055 Total net assets 194,684 3,858,898 si,110 4,104,692 3,881,709 161Page
an KILLYMURRIS CONGREGATION OF THE PRESBYfERIAIY CHURCH IN IRELAND BALANCE SHEET AS AT 31- DEcEIBER 2024 Unrestricted Funds Restrieled Funds Endowment Funds Total Funds 2024 Total Funds 2023 Notes Funds of the cbarity Unrestricted funds Restricted funds Endowment funds 18 18 l8 194,684 194,684 3,858,898 51,110 172,725 3,660,054 48,930 3,858,898 51,110 Total charity funds 194,684 3,858,898 51,110 4.104,692 3,881,709 Approved by the Kirk Session at a meeting on 19th August 2025 and signed on its behalf by.. Rev. Rolan James Watt amuel George Simpson Position: Minister Position: Clerk of Session 171 Page
Presbyter an KILLYMURRIS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND CASH FLOW STATEMEIYf FOR THE YEAR EIYDED 31 DEcEIBER 2024 Total Funds 2024 Total Fund5 2023 Cash flow from operating activities Net incoming resources before interest received Revaluation of tangibl¢ fLxed &%sets and investments Increase in debtors Increase in creditors 219,142 (178,716) (78,476) 85,531 45,602 (3,792) Net cash inflow from incoming resources 47,481 41,810 Return on investments and servlcing of finance Interest received 3.841 5,041 51,322 46,851 Capital expenditure Purchase of tangible fixed assets Net Increase in cash for the year 51,322 46,851 Cash and cash equivalents at the beginning of the year 276,055 229,204 Casb and cash equivalents Ydt the end of the year 327377 276,055 181 Page
an KILLYMURRIS CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE AccouNfs 31sf DECEMBER 2024 ACCOUNfiNG POLICIES BASIS OF FINANCIAL STATEMENTS Thc financial statements have been prepared in accordance with Accounting and Reporting by Charities,. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland (FRSI 02) (effective l January 2019). The Charity is a public benefit entity The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The functional and presentational currency is Sterling. 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 infornial gatherings of church members. PREPARATION OF ACCOUNTS ON A GOING CONCERN BASIS There are no material uncertainties about the charity's ability to continue. The accounts have been prepared on a going concern basis. FUND ACCOUNTtNG Unrestricted funds are income funds which are to be spent on the congre8ation's general purposes. Designated funds are general funds set aside by the congregation for use in the future. Restricted funds comprise 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. Endowment funds are funds, the capital of which must be retained either pemianently 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. CRITICAL ACCOUNTING JUDGEMENTS AI¥D ESTIMATION UNCERTAINrY Estimates and judgments made in the process of preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical judgments made in applying the Church's accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk of causing a material adjustment to carrying amounts of &ssets and liabilities within the next financial year. 191 Page
an KILLYMURRIS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE AccourS (eont'd) AccouNfING POLICIES (cont'd) INCOMING RESOURCES (i) Recognition of incoming resources 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 reliability. (li) Incoming resources with related expenditure Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. {iii) Grants and donations Grants and donations are only included in the SOFA when the congregation has unconditional entiilement to the resources. (iv) Tax reclaims on donations and gifts Incoming resources from Lix reclaims are included in the SOFA at the same time as the gift to which they relate. (v) Contractual income and performaDce relaled grants This is only included in the SOFA once the related goods or services have been delivered. (vi) Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. (vii) Donated seryices 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 thcse resources is the estimated value to the charity of the service or facility received. (viii) Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. (ix) Investment income This is included in the accounts when receivable. (x) Investment gains and losses This includes any gain or loss on the sale of invcsiments and any gain or loss resulting from revaluing investments to market value at the end of the year. 201 Page
an KILLYMURRIS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAIYD NOTES TO THE ACCOUNTS (cont'd) ACCOUNTING POLICIES (cont'd) EXPENDITURE AND LIABILrrIES (xi) Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. (xii) Analysis of expenditure by activity A separate analysis of expenditure on an activity basis has not been presented, nor considered necessary, since all expenditure of the charity is committed to the overall functioning of the Church. (xiii) 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. ASSETS/(LIABILITIES) (xvi) Tangible Fixed Assets The assets of the Church comprise: Church building and contents at 185 Dunminning Road, Glanyford. Ballymena. Church hall building and contents at 185 Dunminning Road, Glarryford, Ballymena Manse at 175 Dunminning Road, Glarryford. Ballymena Details of historical cost of the above assets purchased priorto ISI January 2018 are not available. All assets purchased are 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 remaRning useful life currently exceeds 50 years. This will be reviewed by on an annual basis by the Trustees. Tangible fixed assets for use by the church are capitalised if they can be used for more than one year, and cost at least £2,500. The Trustees have agreed that any fixed asset addition with a value of less than £2,500 does not need to be shown as an asset and will simply be written off as expenditure in the year of purchase. Tangible fixed assets are dc-recognised on disposal or when no future economic benefits are cxpected. On disposal, the difference between the disposal proceeds and the carrying amount is recognised in the statement of financial activities. 211page
an KILLYMURRIS CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE AccouNfs (cont'd) AccouNfING POLICIES (cont'd) (xiv) Investments Investments are included in the balance sheet at their market value at the year end. (xv) Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held and other short-terni highly liquid investments with maturities of three months or less. (xvi) Financial instruments The Church only has financial assets and financial liabilities of a kind that qualify as basic financial instrunients. Basis financial instruments are initially recognised at transaction price and subsequently measured at their settlement value. DONATIONS AND LEGACIES Unrestricted Funds Restricted Funds Endowment Funds Totsl Funds 2024 Total Funds 2023 Recorded giving: Donations and 8ifts Loose collections Gift Aid Organisation fees/membership 101,626 1.734 32,756 257,647 359,273 1,734 89,441 2,015 174,439 3,416 21,047 1.612 56,685 2.015 136,116 316J47 452,463 200,514 CHARITABLE ACTIVITIES Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2024 Total Funds 2023 Charitable activities - other Charitable activities - publications 44.033 670 44,033 670 27,002 614 44,703 44,703 27,616 221Page
an KILLYIIIURRIS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (eont'd) NVESTMENT INCOME Unrestricted FuDds Restricted Funds Endowment Funds Total Funds 2024 Total Funds 2023 Deposit interest PCI General investm¢nt fund 1344 417 1,661 2,180 1,276 3,765 2,180 1244 417 2,180 3,841 5,041 OTHER INCOME Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2024 Total Funds 2023 Building Project grant income Other gFrants received PCI support Sundry income 76,647 6577 76,647 6,577 276 1,590 3,053 276 190 1,400 843 466 84,624 85,090 3,896 COST OF RAISING FUNDS Unrestricted Funds Restrleted Funds EDdowment Funds Total Funds 2024 Total Funds 2023 FWO envelopes Fundraising expenses 790 790 1,198 790 1,297 1,198 790 1,198 1,988 2,087 231Page
Presbyter an KILLYMURRIS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE Accouwfs (cont'd) CHARITABLE ACTIVITIES Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2024 Tolal Funds 2023 Ministry and support staff costs Congregational running expenses General assessments Utilities Events and catering expenses Stationery and teaching tnaterials Publications Presb)rtery fees Donations to missionslcharities 72,712 4281 11,095 13,015 1,845 463 82 9,947 938 72,794 14228 12,033 13,015 7,336 884 670 469 17,104 70,156 15,125 10,759 15,866 9,293 1,255 610 428 16,880 5,491 421 670 469 535 16,569 104,415 34.118 138,533 140,372 OTHER EXPENDITURE Unrestricted Funds Restricted Funds Endoivment Funds Totsl Funds 2024 Total funds 2023 Repairs and maintenance Governance costs 2.836 6J41 15,054 186 17,890 6,527 22,714 2,350 9,177 15.240 24,417 25,064 RENOVATION COSTS Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2024 Total Funds 2023 Building contractor Associated professional fees 317J45 57J67 317?45 57 J67 18,901 374,712 374,712 18,901 241 Page
Presbyter an KtLLYMURRIS CONGREGATION OF THE PRESBYTERJAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 10. TRANSFERS BETWEEN FUNDS Unrestricted funds are spent or applied at the discretion of the tTUStees to further any of the charity's purposes. Unrestricted ndS may be used to supplement expenditure made from restricted funds. 11. EMPLOYEES Employment costs 2024 2023 Wages and salaries 11,940 10,872 The church had two employees during the year (2023: two). The minister of the congregation is an employee of the Presbyterian Church in Ireland, which is a separate charity and they have not been reflected in the employee costs and average number of employees above. The congregation pays an assessment to the Presbyterian Church in Ireland for the minister. The following amounts were paid during the year: 2024 2023 Minister stipend 37.676 35,882 251 Page
an KILLYMURIUS CONGREGATION OF THE PRESBYTERIAN CItURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 12. PENSION COSTS The minister of the congregation is a member of the Presberian Church in Ireland Pension Scheme (2009). 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 stipcnd paid to the ministeT. The Presbyterian Church in Ireland Pension Scheme (2009) is a funded Scheme of the defined benefit type. providing defined benefits based on career average re-valued 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 fomial schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 24% of pensionable salaries to cover the accrual of benefits for futu service, expenses, the cost of insuring death in service benefits and funding the scheme deficit. The total contributions made by the congregation during the year were: 2024 2023 Contributions 9,042 8,612 261 Page
an KILLYMURIUS CONGREGATION OF THE PRESBYtERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 13. TANGIBLE FIXED ASSETS Buildings and contents Total Cost I Valuation As at I" January 2024 Revaluation 3,556,724 176,536 3,556,724 176,536 As at 31°, December 2024 3,733260 3,733,260 DepreciatioD As at 1st January 2024 Charge for the year Disposals As at 31" December 2024 Net Book Value AS at 31" December 2024 3,733,260 3,733,260 Net Book Value as at 3151 December 2023 3,556,724 3,556,724 The assets of the Church comprise". Church building and contents at 185 Dunminning Road, Glarryford, Ballymena. Church hall building and contents at 185 Dunminning Road, Glarryford, Ballymena Manse at 175 Dunminning Road, Glarryford, Ballymena 14, INVESTMENTS PCI General Investment Fund National Savings accounts Total Cost/valuation st As at l January 2024 Movement during the year 45,360 2,145 3,570 35 48,930 2,180 5t As at 31 December 2024 47,505 3,605 51,110 271 Page
Presbyter an KILLymUs CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 15. DEBTORS AND PREPAYMENTS 2024 2023 Gift Aid recoverable Grant receivable Other debtors Prepayments 60,462 13278 276 4,460 78,476 16. CASH AT BANK AND IN HAND 2024 2023 Bank current accounts Baiik deposit accounts Cash in hand 326,038 746 593 274,727 733 595 327,377 276,055 17. CREDJTORS DUE WITHIN ONE YEAR 2024 2023 Building construction costs due Other creditors arAd accruals 78,545 6,986 85,531 281 Page
an KILLYMURRIS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (CODt'd) 18. FUND BALANCES AND RECONCILIATION OF FUNDS Fund Balance at start Balance at end Income Costs Revaluation Transfer Unrestricted Funds General account Repair account 162,725 10,000 137,826 114.382 (1,485) 184,684 10,000 172,725 137,826 114J82 (1,485) 194,684 Restricted Funds General account Graveyard account Repair account Property account Sunday School account PW account Live Wire account Girls Brigade account Happy Tots accounts Carnlea Bowling account Glarryford Bowling account Bible and Prayer account Chipmunk account Young Adults account 3,371 7,562 78,204 3,556,724 1,080 821 1,686 3,480 1,480 15,020 7,560 398.206 15.009 6,078 383,780 3,382 9,044 95,520 3,733,260 1,400 2,339 3,574 3,185 19 2,890 176,536 386 4.176 3,151 10,835 1,566 2.658 1,263 8.330 31 1,500 (2,800) (1,430) 1.517 13 .530 1,522 3,541 2.258 3.437 (150) 1,476 1,729 595 283 2,100 297 719 1,475 3,362 593 214 295 650 3.660,054 446,091 425,268 176.536 1,485 3,858.898 Endowment Funds National Savings I account National Savings 2 account National Savings 3 account Bequests account 2,082 21 2,103 863 872 625 45,360 631 47,504 2.144 48,930 2,180 51,110 OVERALL TOTALS 3,881,709 586,097 539.650 176.536 4,104,692 291Page
an KILLyMURs CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAI¥D NOTES TO THE ACCOUNTS (cont'd) 18. FUND BALANCES AND RECONCILIATION OF FUNDS (cont'd) Analysis of closing funds Unrestricted Funds Restricted Fullds Endowment Funds Total Funds 2024 Total Funds 2023 Fixed assets Current assets Current liabilities 3,733260 206,663 (81,025) 51,110 3,784,370 405,853 (85,531) 3,605,654 276,055 199,190 (4,506) Total funds 194,684 3,858,898 51,110 4,104,692 3,881,709 19. RELATED PARTY TRANSACTIONS Rev. Roland Watt is a trustee of the church. In his capacity as the minister of the congregation he received remuneration of £37,676 and an expenses allowance of £7,036. Pension contributions of £9,042 were also paid by the congregation in respect of him to the Presbylerian Church in Ireland Pension Scheme (2009). Employer's NIC of £4.914 was paid to the Presbyterian Church in Ireland for the minister. None of the other trustees received any remuneration nor were any of them re-imbursed during the year for expenses they incurred in connection with their duties. Expenditure in the Statement of Financial Activity includes the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland, a separate charity: Assessments United Appeal 11,095 9,024 The congregation contributed £469 towards Presbytery Assessments during the year. There were no other related party transactions. 20. CAPITAL COMMITMENTS At 31. December 2024 the Church had capitsl commitments of £0.6 million in relation to the on-going church renovation works, which have not been provided for in the accounts (2023.. £1.2 million). In addition to this prior to these accounts being signed the church committed to further required renovation work costs of £0.2 million (2023: nil)- These commitments will be met by funds currently held in bank accounts, by a bank facility, by interest free loans from church members, by grants from the Listed Places of Worship scheme (towards the VAT incurred on the building works), by future donations/fundraising activities and by Gift Aid reclaimable. 30IPage