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2024-12-31-accounts

Ringsend Congregation of the Presbyterian Church in Ireland

Financial Statements

Year Ended 31[st] December 2024

NIC 105573

RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2024

Note Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total 2024 Total
2023
£ £ £ £ £
Receipts
Donations and legacies 2 49,170 12,755 61,925 62,035
Charitable activities 3 562 0 562 362
Other trading activities 4 10,618 0 10,618 9,691
Investment Income 5 4,346 734 5,080 3,757
Other Income 6 111 0 111 1,672
---------- ---------- ---------- ---------- ----------
Sub Total 64,807 13,489 0 78,296 77,517
Sale of Investments 0 0
Sale of fixed assets 0 0
Loans Received 0 0
---------- ---------- ---------- ---------- ----------
Total Receipts 64,807 13,489 0 78,296 77,517
---------- ---------- ---------- ---------- ----------
Payments
Raising funds 7 465 0 465 532
Charitable activities 8 52,884 11,349 64,234 70,559
Investment costs 0
Other Expenditure 9 0 2,023 2,023 0
---------- ---------- ---------- ---------- ----------
Sub Total 53,349 13,372 0 66,722 71,091
Purchase of Investments 0
Purchase of fixed assets 0
Loan Repayments 0
---------- ---------- ---------- ---------- ----------
Total Payments 53,349 13,372 0 66,722 71,091
---------- ---------- ---------- ---------- ----------
Net receipts / (payments) 11,458 116 0 11,574 6,426
Transfers between funds (3,899) 3,899 0 0
---------- ---------- ---------- ---------- ----------
Net movement in funds 7,559 4,015 0 11,574 6,426
Funds brought forward 9,123 33,041 0 42,164 35,738
---------- --------- ---------- ---------- ----------
Funds carried forward 12 16,682 37,056 0 53,738 42,164
====== ====== ====== ====== ======

Page 1

RINGSEND CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2024 Unrestricted Restricted Endowment Funds Funds Funds Total 2024 Total 2023 Funds Reconciliation Bank and Cash at start of year Net movement in funds 9,123 7,559 33,041 4,015 42,164 11,574 35.738 6,426 Bank and Cash at end of year 16,682 37,056 53,738 42,164 Bank & Cash Balances Bank Accounts Cash in Hand 53,738 42,164 53,738 42,164 Flxed Assets - Note 10 Church Premises including fixtures and fittings 2,314,531 2,204,315 Other Assets Investments- Note 11 Gift Aid receivable on donations 115,093 6,341 107,067 5,138 121.434 112,205 Approved by the Kirk Session at a meeting on 6 th Arri12oz S and signed on its behalf by Name Name Date Date 6(yfuL£ Page 2

RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2024

1. ACCOUNTING POLICIES

BASIS OF FINANCIAL STATEMENTS

As the total income of the congregation is less than £250,000 the congregation have elected to prepare its accounts on a receipts and payments basis, in accordance with the provisions in The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015.

FUND ACCOUNTING

Endowment funds are funds, the capital of which must be retained either permanently 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.

Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) 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.

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.

2. DONATIONS AND LEGACIES

Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total 2024 Total
2023
£ £ £ £ £
Recorded giving 39,405 7,240 46,645 48,124
Loose collections 1,101 3,174 4,275 5,761
Donations and gifts 3,025 478 3,503 1,595
Gift Aid 5,639 1,863 7,502 6,555
---------- ---------- ---------- ---------- ----------
49,170 12,755 0 61,925 62,035
---------- ---------- ---------- ---------- ----------

Page 3

RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2024

3. CHARITABLE ACTIVITIES

3.CHARITABLE ACTIVITIES
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
Income from charitable activities 562 0 562 12
Fees from weddings and funerals 0 0 0 350
---------- ---------- ---------- ---------- ----------
562 0 0 562 362
---------- ---------- ---------- ---------- ----------

4. OTHER TRADING ACTIVITIES

4.OTHER TRADING ACTIVITIES
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
Trading income 10,618 0 10,618 9,691
---------- ---------- ---------- ---------- ----------
10,618 0 0 10,618 9,691
---------- ---------- ---------- ---------- ----------

5. INVESTMENT INCOME

Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
Bank interest 217 55 272 428
Other investment income 4,129 679 4,808 3,329
---------- ---------- ---------- ---------- ----------
4,346 734 0 5,080 3,757
---------- ---------- ---------- ---------- ----------

Page 4

RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2024

6. OTHER INCOME

6.OTHER INCOME
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
Other income 111 0 111 1,672
---------- ---------- ---------- ---------- ----------
111 0 0 111 1,672
---------- ---------- ---------- ---------- ----------
7.RAISING FUNDS
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
FWO envelopes 465 0 465 532
---------- ---------- ---------- ---------- ----------
465 0 0 465 532
---------- ---------- ---------- ---------- ----------
8.CHARITABLE ACTIVITIES
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2024		 Total
2023
£ £ £ £ £
General Assembly Assessments 8,068 0 8,068 7,984
Presbytery fees 330 0 330 264
Ministry and support staff costs 31,970 51 32,021 31,266
Premises Costs 9,893 0 9,893 9,445
Congregational running expenses 1,301 1,036 2,337 3,242
Repairs and Maintenance 515 1,545 2,060 8,894
Donations to Missions and charities 0 8,717 8,717 8,621
Governance costs 807 0 807 843
---------- ---------- ---------- ---------- ----------
52,884 11,349 0 64,234 70,559
---------- ---------- ---------- ---------- ----------

Page 5

RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2024

9. OTHER EXPENDITURE

Unrestricte Restricted Endowmen Total Total
d Funds Funds t Funds 2024 2023
£ £ £ £ £
Third Party Contribution to River Ridge
re Landfill Communities Fund Grant 0 2,023 2,023 0
---------- ---------- ---------- ---------- ----------
0 2,023 0 2,023 0
---------- ---------- ---------- ---------- ----------

10. FIXED ASSETS

The congregation owns the Church premises situated at 139 Cashel Road, Ringsend and the manse at 120 Cashel Road, Ringsend together with the associated fixtures, fittings, fittings, plant and machinery .

These have an insurance value of

Church
Church Hall
Manse		 £
1,489,911
289,927
534,693
2,314,531

The congregation also owns approximately 30 acres of land at 120 Cashel Road which had an estimated market value of £240,000 at the year end.

11. INVESTMENTS

The congregation has the following investments. Amounts are shown at market valuation.

2024 2023
Endowment Funds £ £
Progressive Building Society
Minister 2,540 2,540
Repair and Reserve 633 633
P.W. 3,037 3,037
Sunday School 2,750 2,750
Youth Fellowship 500 500
---------- ----------
9,460 9,460
---------- ----------
Other Investments
Unrestricted Investments
NFU Unit Managers Ltd Investment Portfolio Plan 71,600 69,276
HSBC shares (3858) 30,197 24,518
Aviva PLC shares (72) 336 313
Progressive Building Society 3,500 3,500
---------- ----------
105,633 97,607
---------- ----------
TOTAL INVESTMENTS 115,093 107,067
======= =======

Page 6

RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2024

12. FUND BALANCES

Fund Balance at
start		 Receipts Payment Surplus /
(Deficit)		 Transfer Balance at
end
£ £ £ £ £ £
Unrestricted Funds
General Fund 9,123 64,807 53,349 11,458 (3,899) 16,682
---------- ---------- ---------- ---------- ---------- ----------
9,123 64,807 53,349 11,458 (3,899) 16,682
---------- ---------- ---------- ---------- ---------- ----------
Restricted Funds
Repair and Reserve 23,621 3,760 3,593 167 2,743 26,531
Grave Repair Fund 0 12 0 12 57 69
United Appeal (397) 3,582 4,265 (683) 683 (397)
World Development Appeal 0 1,305 1,375 (70) 150 80
Pres. Children's Society 0 362 362 0 0 0
Earl Haig 0 165 165 0 0 0
Sunday School 2,255 1,101 481 620 200 3,075
Choir 4,023 1,057 1,015 42 0 4,065
P.W. 1,738 2,013 2,065 (52) (150) 1,536
Youth Fellowship 1,801 10 0 10 0 1,811
Minister's Bequest 0 51 51 0 0 0
Rev. Dinsmore Bursary 0 70 0 70 216 286
---------- ---------- ---------- ---------- ---------- ----------
33,041 13,488 13,372 116 3,899 37,056
---------- ---------- ---------- ---------- ---------- ----------
TOTAL CASH FUNDS 42,164 78,295 66,721 11,574 0 53,738
======= ======= ======= ======= ======= =======

Page 7

Independent examiner’s report to the trustees of Ringsend Congregation of The Presbyterian Church in Ireland

I report on the accounts of the Charity for the year ended 31 December 2024, which are set out on pages 1 to 7.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. The charity’s trustees consider that an audit is not required for this year under section 65(2) of the Charities Act (Northern Ireland) 2008 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9) (b) 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

have not been met or

Olive K Wallace ACMA, CGMA OK Wallace Accountancy and Bookkeeping 101 Coolyvenny Road Coleraine BT51 3SF

8 April 2025