MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
Financial Statements for the year ended 31 December 2024
Registered Charity in Northern Ireland (NIC 105576)
MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2024
| Note Unrestricted Restricted Endowment Funds Funds Funds £ £ £ Receipts Donations and legacies 2 204,398 2,852 0 Investment Income 5 5,763 5,741 0 Other 6 0 0 0 Total Receipts 210,761 8,593 0 Payments Raising funds 7 0 0 0 Charitable activities 8 39045 6198 0 Total Payments 39045 6198 0 Net receipts / (payments) 171,716 2,395 0 Transfers between funds 0 0 Net movement in funds 171,716 2,395 0 Funds brought forward 89,079 117,788 238,273 (Loss)/Gain in investments 0 0 10,282 Funds carried forward 12 260,795 120,183 248,555 |
Total Total 2024 2023 £ £ 207,250 86,596 11,504 11,107 0 0 219,354 97,703 0 160 45,243 37,941 45243 38101 174,111 59,602 0 0 174,111 59,602 445,140 371,612 10,282 13926 629,533 445,140 |
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MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2024
| Note Unrestricted Restricted Funds Funds £ £ Funds Reconciliation Bank and Cash at start of year 89,079 117,788 Net movement in funds 171,716 2,395 Bank and Cash at end of year 12 260,795 120,183 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts Cash in Hand Total Bank and Cash Investments - Endowments Total Assets per Statistics Form Other Assets Fixed Assets 10 Other Investments -Land 11 Gift Aid receivable on donations est Liabilities Accruals and Sundry Creditors Total Assets |
Total Total Funds Funds 2024 2023 £ £ 206,867 147,265 174,111 59,602 380,978 206,867 0 0 380,978 206,791 0 76 380,978 206,867 248,555 238,273 629,533 445,140 1,327,428 1,327,428 374,000 374,000 11,400 7,600 1,712,828 1,709,028 -780 -780 2,341,581 2,153,388 |
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Approved by the Kirk Session on 17/ 10/ 2025 and signed on its behalf by
Rev Drewe McConnell Hugh Smyth
MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS for the year ended 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 in accordance with the provisions in The Charities (Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis.
FUND ACCOUNTING
Endowment funds are funds, the capital of which must be retained either permanently or at the for the year ended 31 December 2024
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.
MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (continued)
for the year ended 31 December 2024
| 2. DONATIONS AND LEGACIES Un Recorded giving Loose collections Donations and gifts Gift Aid Legacies and bequest 3.OTHER INCOME Un Fundraising events Membership fees Grants 4. OTHER TRADING ACTIVITIES Un Letting of premises Trading income 5. INVESTMENT INCOME Un Deposit interest General Investment Fund Conacre Lettings Other investment income 6. OTHER INCOME Un Insurance claims Other income - Graveyard 7. RAISING FUNDS Un FWO envelopes Fundraising events 8.CHARITABLE ACTIVITIES Un General Assembly Assessments (inc Stipend) Presbytery fees Congregational running expenses Donations to Missions and charities Repairs and Maintenance inc Assets 9. OTHER EXPENDITURE Un Investment properties expenses |
re F 15 4 2 18 20 |
stricted Restricted Endowment Total Total unds Funds Funds 2024 2023 £ £ £ £ £ ,524 1,990 17,514 20,264 ,014 0 4,014 4,445 ,114 862 2,976 2,775 0 0 0 0 2,746 0 182,746 59,112 4,398 2,852 0 207,250 86,596 stricted Restricted Endowment Total Total unds Funds Funds 2024 2023 £ £ £ £ £ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 stricted Restricted Endowment Total Total unds Funds Funds 2024 2023 £ £ £ £ £ 600 0 600 0 0 0 0 0 600 0 0 600 0 stricted Restricted Endowment Total Total unds Funds Funds 2024 2023 £ £ £ £ £ 470 903 1,373 795 41 0 41 37 ,170 3,100 8,270 8,598 82 1,738 1,820 1,677 ,763 5,741 0 11,504 11,107 stricted Restricted Endowment Total Total unds Funds Funds 2024 2023 £ £ £ £ £ 0 0 0 0 0 0 0 0 0 0 0 0 0 stricted Restricted Endowment Total Total unds Funds Funds 2024 2023 £ £ £ £ £ 0 0 0 160 0 0 0 0 0 0 0 0 160 stricted Restricted Endowment Total Total unds Funds Funds 2024 2023 £ £ £ £ £ 4163 0 14,163 13262 170 0 170 129 ,080 5,410 11,490 9746 450 788 1,238 2590 8182 0 18,182 12214 9045 6198 0 45243 37941 stricted Restricted Endowment Total Total unds Funds Funds 2024 2023 £ £ £ £ £ 0 0 0 0 0 |
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| re F re F re F 5 5 re F re F re F 1 6 1 3 |
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| re F |
10. FIXED ASSETS
The congregation owns the Church premises situated at 472 Seacoast Road,Limavady,BT49 0LF, and the associated fixtures, fittings, plant and machinery. These had an insurance value of £1393798.89 at 31 October 2024
| 68.2 acres of farmland (Valued by A Gourley 11 December 2023) | 374,000 | 90,000 |
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| 11. INVESTMENTS | Total | Total |
| 2024 | 2023 | |
| The congregation has the following investments. Amounts are shown at market valuation. | £ | £ |
| General Investment Fund (104 shares - 46 minister,58 congregation) | 1,452 | 1,386 |
| Manse Fund Trust - Davy Investments at 31/12/2024 | 244,661 | 235,786 |
| Nat West Shares (466 shares) | 2,442 | 1,101 |
| Total per Statistics Form | 248,555 | 238,273 |
MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (continued) for the year ended 31 December 2024
12. FUND BALANCES per PCI
| Fund Unrestricted Funds General Fund United Appeal Missions and Charities for the year ended 31 December 2023 Restricted Funds Repair Account War Stock PW Account Manse Fund Total Restricted Endowment Funds Total |
Balance at start £ 89,079 0 0 89,079 46,779 47,156 1,903 21,950 117,788 238,273 445,140 |
Receipts £ 210761 210,761 5,207 785 863 1,738 8,593 0 219,354 |
Payment £ -39045 -39,045 -5,175 0 -993 -30 -6,198 0 -45,243 |
Surplus / Transfer Balance (Deficit) Gain at end £ £ £ 171,716 260,795 0 0 0 0 171,716 0 260,795 32 0 46,811 785 0 47,941 -130 0 1,773 1,708 0 23,658 2,395 0 120,183 0 10,282 248,555 174,111 10,282 629,533 |
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MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND INCOME ANALYSIS
for the year ended 31 December 2024
| INCOME ANALYSIS for the year ended 31 December 2024 |
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| 2. DONATIONS AND LEGACIES Recorded giving Loose collections Donations and gifts inc UA,WDA Gift Aid Legacies and bequest 3. CHARITABLE ACTIVITIES Income from charitable activities Fees from weddings and funerals Fundraising events Membership fees Grants 4. OTHER TRADING ACTIVITIES Letting of premises Trading income 5. INVESTMENT INCOME Deposit interest General Investment Fund Rents investment properties Other investment income 6. OTHER INCOME Insurance claims Other income Total Income Transfers Initial Income |
General PW Repair War Stock Manse Fund Funds Funds Funds Funds 15,524 1,990 4,014 2,114 862 182,746 204,398 862 1,990 0 0 General PW Repair War Stock Manse Fund Funds Funds Funds Funds 0 0 0 0 0 0 0 General PW Repair War Stock Manse Fund Funds Funds Funds Funds 600 600 0 0 0 0 General PW Repair War Stock Manse Fund Funds Funds Funds Funds 470 1 117 785 41 5,170 3,100 82 1,738 5,763 1 3,217 785 1,738 General PW Repair War Stock Manse Fund Funds Funds Funds Funds 0 0 0 0 0 0 |
Restricted Total 2024 1,990 0 862 0 0 2,852 Restricted Total 2024 0 0 0 0 0 0 Restricted Total 2024 0 0 0 Restricted Total 2024 903 0 3,100 1,738 5,741 Restricted Total 2024 0 0 0 |
Total 2024 17,514 4,014 2,976 0 182,746 207,250 2024 0 0 0 0 0 0 2024 600 0 600 2024 1,373 41 8,270 1,820 11,504 2024 0 0 0 |
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| General Fund 15,524 4,014 2,114 182,746 204,398 General Fund 0 0 General Fund 600 600 General Fund 470 41 5,170 82 5,763 General Fund 0 0 |
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| 210761 | 863 5207 785 1738 |
8593 | 219354 | ||||
| 210761 | 863 | 5207 | 785 | 1738 | 8593 | 219,354 |
MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND EXPENDITURE ANALYSIS
for the year ended 31 December 2024
| 7. RAISING FUNDS FWO envelopes Fundraising events 8.CHARITABLE ACTIVITIES General Assembly Assessments (inc Stipend) Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Repairs and Maintenance inc Assets 9. OTHER EXPENDITURE Investment properties expenses Total Expenditure Transfers Initial Expenditure |
General PW Repair War Stock Manse Fund Funds Funds Funds Funds 0 0 0 0 0 General PW Repair War Stock Manse Fund Funds Funds Funds Funds 14163 170 0 6080 205 5175 30 450 788 18182 39045 993 5175 0 30 General PW Repair War Stock Manse Fund Funds Funds Funds Funds 0 0 |
General PW Repair War Stock Manse Fund Funds Funds Funds Funds 0 0 0 0 0 General PW Repair War Stock Manse Fund Funds Funds Funds Funds 14163 170 0 6080 205 5175 30 450 788 18182 39045 993 5175 0 30 General PW Repair War Stock Manse Fund Funds Funds Funds Funds 0 0 |
Restricted | Restricted |
|---|---|---|---|---|
| General Fund 0 |
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| General Fund 14163 170 0 6080 450 18182 39045 |
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| General Fund 0 |
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| 39045 | 993 5175 0 30 |
6198 | ||
| 39045 993 5175 0 30 |
6198 | 45243 |
MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND BANK
for the year ended 31 December 2024
| Bank Accounts Deposit Account Current Account Cash In Hand Total Bank & Cash |
General PW Repair War Stock Manse Total Total Fund Funds Funds Funds Funds 2024 2023 0 0 0 260795 1,773 46811 47941 23658 380,978 206791 0 0 0 76 260795 1773 46811 47941 23658 380,978 206867 |
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