ids. Charlty Registration No: NIC106586 chartered accountants PORTRUSH PRESBYTERIAN CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 IDS Chartered Accountants LLP 23125 Queen Strget COLERAINE Co Londonderry 8T52 1 BG
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants CONTENTS Page Legal and administrative information Trustees, report Independent examiner's report Statement of financial activities Statement of financial position 10 Notes to the fi'nancial statements
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr B G H Simpson Mr R S Medcalf Mr S A Mccartney Mr W A Duncan MrWRDunn Professor J H Gillespie Mrwc Harpur Mr S Medcalf Mr D Mcmillan Mr W S Peake Mr S P Vandevyver Mr R Scott Rev Dr J Coulter Principal address 3.. 16 House 3 Main Street PORTRUSH Co Antrim BT56 8BL Independent examlner IDS Chartered Accountant5 LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG Bankers Danske Bank 22 The Diamond COLERAINE Co Londonderry BT52 IDE Solicitors Anderson Gillan Barr Ltd Solicitors 41 New Row COLERAINE Co Londonderry BT52 1AE
PORTRUSH 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 slalements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and Comply with the book of the constitution and government of the Presbyterian Church in Ireland, the Charities Act (Northern Ireland) 2008 and "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 IFRS 102)" (as amended for accounting periods commencing from 1 January 20161. Objectives and actlvlties Portrush Presbyterian Church is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Refomed Church within the wider body of Christ, is grounded in the Scriptures, and exists to love and honour God through faith in His Son and by the power of His Spirit, and to enable her member5 to play their part in fulfilling God's mission to our world. The Charity's mission is.. dlsclples of Jesus Christ. For the Glory of God to present the gosp81 so that others will become true To make this mission a reality. the Charity is commilled to the only God-given means of achieving it - Ihe Word of God taught and preached simply, compassionately, and faithfully. This mission guides the Charity's Vision, which is to see as many people of all ages come to a personal relationship with Jesus Christ and grow to become Useful Active Serving members of His church. The congregation normally meets for worship every Sunday and visitors are welcome to join. It promdes a centre for worship for the many visitors who come to Portrush throughout the year. The Sacramenl of the Lord's Supper is observed on eight occasions during the year. All those who have been baptised and tho 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 prayer meetings, and has a wide range of organisations inGluding'. Crèche Sunday School Youth Fellowship Boys, Brigade Girls, Brigade Tea and Tots Presbyterian Women Praise Group Choir Craft Group Bowling Club New Beginnings: a charity shop as a community service Achievements and performance Worship and prayer The congregation normally meets for worship each Sunday at 11am and 6.30pm. During Ihe week a range of Bible study groups provides opportunities for members to meet together for fellowship, to study the Scriptures, and for a lime of prayer. As well as our regular services during the year we acknowledged God's gift of new life al one Sacrament of Baptism, gave thanks for faithful service, and sought to comfort those who had been bereaved during the year. At 31 December 2024 there were 272 communicant members and 201 families connected with the congregation. The average attendance at morning worship averaged 250-300 from September lo May and 450-500 from June to August. Online attendance, an imprecise measure, varied between 150 & 250.
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Pastoral care Members of the congregation who are unable to attend church due to sicknèss or age are visited on a regular basis by the minister, elders or by one of the congregation's pastoral visitors. Video and audio recordings of the morning service are distributed weekly to those unable to allend, and communion services held, as appropriate, in people's homes. Since the beginning of the pandemic, all in-person morning services have been live- streamed. Counselling is available for all members of the church family, as required, and is provided by members of the Ministry team, and there is a strong emphasis on the distribution of practical support for those in need. Mission and outreach At a local level our mission is expressed by our worship, a key element of our expressing our love for God. Our worship Is therefore inclusive of age and slyle, allowlng those whom God has so gifted to ¢reatvely express their love by these gifts. We promote fellowship within the church and encourage each member to see hislher responsibility to be a catalyst for fellowship, caring, sharing, praying, encouraging, and visiting. This also challenges us as to our responsibility to develop fellowship with Christians outside our church. This is the basis for our outreach to the whole local community in caring service and evangelism. not only a5 individuals and families, but through the activities of the organisalions listed above and below. The congregation supports the United Appeal for Mission, which is a central fund of the Prestyterian Church in Ireland. This fund enables congregations lo support the wider mission and outreach of the denomination beyond what the congregation could do on its own. The United Appeal Fund provides financial support for mission personnel al home and overseas, assists congregations with the deployment of locally-based staff, enables church 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 areas of worship, discipleship, global mission, outreach, leadership and pastoral care. There is also further giving in support of a range of other mission activities. Presbytery The congregation was represented at the regular meetings of Presbytery by our minister andlor one of the elders. This provides an important link between the congregations and the wider structures of Ihe 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. Property Early in 2023 serious leaks in the pipes for the central heating of the church led to the replacement of those pipes and the complete resurfacing of the rear car park, under which the pipes were laid. This project was successfully completed in September 2023. In 2024 the repainting of and repairs to the 3..16 building were undertaken, and minor improvements made lo the church halls, and the Church Manse and grounds were extensively renovated and refurbished in preparation for the arrival of our new Minister.
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Organisations In addition to our Sunday School, Youth Fellowship and Home Bible Study Groups, which met regularly throughout the year, there are a number of thriving organisations. Our branch of Presbyterian Women met monthly during winter and autumn in support of missionary and discipleship work in the church. Our Girls, Brigade Company meets each Monday during the winter and autumn terms with, on average, Iwenty-nine of ages from four to eighteen attending Our Boys, Brigade Company meets each Friday, also during the winter and autumn terms, with more than twenty-two boys of the same age range regularly attending. Each organisation provides a range of activities of games, crafts, Bible leaching, and so on. Our Tea and Tots group meets every Friday morning in our halls. Twenty children and their carers are regular attende. These organisations attract participants from throughout the community, as does our Bowling Club. which meets On a week in our halls with between ten and fifteen regularly attending. Our craft group has a dozen members, which makes craft items for distribution to those in need both at home and abroad. Reality 3.'16, our Worldview programme, met regularly throughout the year, in High Kirk Presbyteri3n Church, Ballymena, with participants from all over the province engaging in significant study of the Christian faith in relation to the challenges of our modern world. Volunteers The Trustees wish to acknowledge their deep appreciation of the more than one hundred church members and others who give freely of their time by serving on committees and helping with these organisations and other church activities. 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 flow from the purposes of the Church include the gaining of an understanding of 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 teaching. 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 faalitated 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, 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 to harm. The only private benefit flowing from our purpose is related to Ministers, Missionaries, Deaconesses, 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 Gharilable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families. other individuals with whom the Presbyterian Church in Ireland is in direct and indirect Gonlacl, 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, charitles and individual members of the public. The Kirk Session has had regard to the Charity Commission's public benefit requirement slalutory guidance. The congregation of Portrush provides facilities for other Churches and Christian groups from far and wide for trips and events, and for conference facilities. The church also rnaintains, through the efforts of our Property committee, the extensive Grade 2 buildings on our Main Street Portrush sile, which represent some of the most important heritage buildings of the town and area.
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Financial revlew The congregation's main source of income is member5, contributions through the Weekly Freewill Offering. There were 131 contributing families during the year 12023.. 137) donating a total of £108,370.00 (2023.. £113,485). The total income of the congregation during the year was £295,408 compared to £306,416 in 2023. Total expenditure decreased from £285,505 to £236,365. Going concern The activities of the congregation are dependent on ongoing contributions from its members. The Trustees are of the opinion that the congregation has sufficient resources al the dale of approval of these financial statements to meet commitments that will arise in the year from the date of signing this report and subject lo the continuing support from members lo fund on an ongoing basis the Gongregation's current activities and other financial Comrnitments. Reserves policy The Trustees have considered the level of unrestricted reserves that it is appropriate to hold taking account of current and ongoing commitments. 11 is the policy of the Trustees to hold at least one month's normal expenditure. At the year-end unrestricted reserves were £114,358, which represents a higher level of reserves than required by this policy. The Trustees however, consider il prudent to hold reserves at this level as the funding of its present activities is dependent of the ongoing financial support of members. Risk review A review of major risks has been undertaken by the Truslees. and systems and procedures implemented to manage identified risks. The principal risks are in relation to the likelihood of reputational damage and financial risks associated with the expectation of ongoing financial support from members. These risks are mitigated by the Trustees and the Congregational Committee regularly monitoring the various activities of the congregation al stated meetings and by encouraging members in their regular giving. structure, governance and rnanagement The Charity is an unincorporated organisation. The Trustees who served during the year and up lo the date of signature of the financial statements were: Mr B G H Simpson Mr R S Medcalf Mr S A Mccartney Mr W A Duncan MrWRDunn Professor J H Gillespie Mr WC Harpur Mr S Medcalf Mr D Mcmillan Mr W S Peake Mr S P Vandevyver Mr R Scott Rev Dr J Coulter
PORTRUSH PRESBYTERIAN CHURCH ids. charrered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The Kirk Session The charity Iruslees of the congregation are the members of ils 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 bounds.11 ensLJres pastoral care is in place in the congregation and seeks to further the contribution of the Church to Christian witness and service in the local community. The Kirk Session 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 {currently the convenor of the vacancy) and the ruling elders of the congregation. All members are entitled to propose, speak and exercise equal votes at meetings, except that the Moderator, the minister in active duty in the congregation, has no deliberative but only a casting vote. stated meetings of the Kirk Session are held at least five times a year. 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 to be called to the office can be eilher by the congregation or by the Kirk Session. Members are elected if they obtain Iwo-thirds af those who vote. Presbytery Under the Presbyterian Church in Ireland fom of governance the corporate oversight of a congregation is the responsibility of a Presbytery which superintends generally the spiritual and temporal affairs of the congregation5 assigned to it by the General Assembly of the Presbyterian Church in Ireland. Portrush 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 lo it by the General Assembly, ministers who have retired from active duty, and an elder appointed by the Kirk of Session of each congregation. The General Assembly The General Assembly is the supreme court of the Church, representing, in one body, the whole Church, and acting as ils supreme legislative, administrative and judicial authority in dealing with all mallers broughl before it. The General Assembly is normally constituted in June for worship and to conduct its business. At the end of business, it is dissolved. The membership of the General Assembly consists mainly of the active ministers of each congregation, retired ministers and a representative elder appointed by the Kirk Session of each congregation. The Trustees, report was approved by the Kirk of Session and signed on ils behalf by Professor J H Gillespie Trustee Dated. 6 February 2025 Rev Dr J Coulter Trustee Daled.'6 Febary 2025
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PORTRUSH PRESBYTERIAN CHURCH I report on the financial stalernents of the Charity for the year ended 31 December 2024, which are set out on pages 8t020. Respective responsibilities of charity Trustees and examiner As the Charity's Trustees you are responsible for the preparation of the financial statements in accordance with the Charities Act (Northern Ireland) 2008. It is my responsibility to.. examine the financial statements under section 65 of the Charitles Act (Northern Ireland) 2008., follow the procedures laid down in the general Directions given by the Commission under section 6519){bl of the Charities Act (Northern Ireland) 2008., and slate whether particular matters have come to my attention. Basis of Independent examiner's report I have examined your charity financial statements as required under section 65 of the Charities Act (Northern Ireland) 2008 and 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 Charlties Act. The examination included a revlew of the accounting records kept by the charity and a comparison of the financial slalements presented wrth those records. It also included consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as Gharily trustees concerning any such matters. My role is to state whether any malerial matters have come to my attention giving me cause to believe that.. 1. Accounting records were not kept in accordance with section 63 of the Charities Act (Northern Ireland) 2008,. or 2. The financial statements do not accord with those accounting records-, or 3. The financial statements do not comply with the accounting requirements of the Charities Act (Northern Ireland) 2008- or 4. There is further information needed for a proper understanding of the financial statements to be reached. Independent examiner's statement Since the Charity's gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 65 of the Charities Act (Northern Ireland} 2008. 1 confirm that l am qualified to undertake the examination because l am a member of Chartered Accountants Ireland, which is one of the Sisled bodies. I have completed my examination and I have no concerns in respect of the matters {11 to141 listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing lo your attention. - I"s LLP. IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG 6 February 2025
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PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024 2024 2023 Notes Flxed assets Property, plant and equipment Investment property Investments 15 16 17 7,064,254 158,697 125,473 7,064,254 158,697 119,809 7,348,424 7,342,760 Current assets Trade and other receivables Cash at bank and in hand 18 4,940 289,024 5,395 229,421 293.984 19071 234.816 (805) Current Ilabllltles 19 Net current assets 293,057 234,011 Total assets less current liabilities 7,641,481 7,576,771 Capital funds Endowment funds - general Income funds General restricted funds Revaluation reserve 85,395 80,424 225,739 7,215,989 215,860 7,215,989 7,441.728 114,358 7,431,849 64,498 Unrestricted funds 7,641,481 7,576,771 The financial statements were approved by the Trustees on 6 February 2025 Professor J H Gillespie Trustee Rev Dr J Coulter Trustee 10-
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity information Portrush Presbyterian Church is an unincorporated charity operating in Northern Ireland. 1.1 Accounting convention The financial sl8temenls have been prepared in accordance with the Charities Act (Northern Ireland) 2008 and "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 102}" (as amended for accounting periods commencing from 1 January 20161 The Charity is a Public Benefi't 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 fi'nancial slalements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time Df 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 cancern 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 objectives. Restrided funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses ot the restricted funds are set out in the noles to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. 1.4 Incomlng resources Income is recognised when the Charity 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 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 conlingenl asset. Assets for distribution are recognised only when distributed. Assets given for use by the Charrty are recognised when receivable. Stocks of undistributed donated goods are not valued for balance sheet purposes. Revenue is measLJred at the fair value of the consideiation received or receivable and represents amounts receivable for goods and seNices provided in the normal course of business, net of discounts. 11
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 1.5 Resources expended Liabilities are recognised as soon as there is a legal or constructive obligation Gommitting the congregation to pay out resources. Governance costs 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 conslilutional rnatlers. 1.6 Propertyi plant and equlpment Property, plant and equipment are initially measured at cost and subsequently measured at cost or va5uation, 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 Computers O % straight line 20,/0 Straight line 25 % straight line Land and buildings are valued at market value and are subject to regular revaluations every 3 years and, as such, are not depreciated. 1.7 Investment properties Investment property, which is property held to earn rentals andlor for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly atlribulable expenditure. Subsequently il is measured at fair value at the reporting end dale. The surplus or deficit on revaluation is recognised in profit or loss. 1.8 Non-current investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in nel incomellexpenditure) for the year. Transaction costs are expensed as incurred. 1.9 Impairment of non-current assets At each reporting end date, the Charity reviews the carrying amounts of ils tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such Indation exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 12-
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢countlng pollcles (Continued) 1.11 Financial Instruments The Charity 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 inslrumenls are recognised in the Charity's balance sheet when the Charity becomes party lo the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, 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 a5sel and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised c05t 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 interesl. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement conslitutes a financing Iransaclion, 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. Trade payables are obligations to 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 payables are recognised initially at transaction price and subsequently measured at arnortised 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. 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 to 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 recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revlsion and future periods where the revision affects both current and future periods.
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Donations and legacies Unrestricted Restricted fund5 funds Total Unrestrlcted Restricted funds funds Total 2024 2024 2024 2023 2023 2023 Donations and gifts 149,059 77,987 227,026 168,748 77,754 246,502 Donations and gifts Loose collections Donations and gifts Gift Aid Legacies and bequest 126,658 200 21,512 689 27,534 38,244 12.189 154,192 38,444 33,701 689 133,142 8,140 24,791 2,675 20,061 46,843 10,765 85 153,203 54,983 35,556 2,760 149,059 77,967 227,026 168,748 77,754 246,502 Income from other trading activities Unrestricted Restrlcted funds funds 2024 2024 Total Unrestricted Restrlcted funds funds 2023 2023 Total 2024 2023 Church events, sale of books/CDslDVDslchurch magazines and New Beginnings shop 666 47,029 47,695 1,207 42,269 43,476 14-
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PORTRUSH PRESBYTERIAN CHURCH ids. Chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Other income Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Other Income 4,150 4.150 580 400 980 Expenditure on raising funds Unrestrlctod Unrestricted funds funds 2024 2023 FWO envelopes 628 709 Expendlture on charitable activities 2024 2023 Dlrect costs General Assembly assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to missions and charities 14,383 1,070 49,874 131,575 36,091 13,514 889 85,629 139,176 41,140 232,993 280,348 Share of support and governance costs (note 9) Governance 2,743 4,098 235,736 284,446 Analysis by fund Unrestricted funds Restricted funds 102,056 133,680 150,805 133,641 235,736 284,446 16-
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocated to activlties Governance costs 2024 Total 2023 Basis of allocation Governance 2,743 4,098 2024 2023 Governance costs Gomprlse: Annual reports Accountancy Professional fees Advertising, prinling, stationery and postage Bank interest and charges 118 840 1,045 1,503 592 840 410 894 599 2,743 4,098 10 Trustees One of the Trustees, the minister of the congregation received remuneration of £0 (2023.. £31.339) and expenses of £012023. £500) for acting in that capacity. Pension contribution of £O(2023- £7,522) were paicl by the congregation in respect of the minster to the Presbyterian Church in Ireland Pension Scheme (20091. None of the other trustees received any remuneration. Several Trustees, and their related parties were reimbursed a total of £1 ,885 expenses paid on behalf of the church (2023 £7,934) 11 Employees The average monlhly number of employees during the year was.. 2024 Number 2023 Number There were no employees whose annual remuneration was more than £60,000. 12 Other Total Endowment funds general 2023 2024 Other expenditure 350 350 17-
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Other {Continuedl 13 Net gainslllossesl on investments Restricted Endowment funds funds general 2024 Total Restricted Endowment funds funds general 2023 Total 2024 2024 2023 2023 Revaluation of investments Revaluation of investment properties 2,189 3.476 5,665 3,842 6,101 9,943 {65,162) (65,1621 2,189 3,476 5,665 {61,320) 6,101 (55,219} 14 Taxation The charity is exempt from lax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 15 Propertyj plant and equlpment Freehold land Fixtures and and bulldings fittings CDmputers Total Cost Al 1 January 2024 7,064,254 19,464 2,309 7,086,027 At 31 December 2024 7,064.254 19,464 2,309 7,086,027 Depreciation and impairment At 1 January 2024 19,464 2,309 21,773 At 31 December 2024 19,464 2,309 21,773 Carrying amount At 31 December 2024 7,064,254 7,064,254 At 31 December 2023 7,064,254 7,064,254 16 Investment property 2024 Fair value At 1 January 2024 and 31 December 2024 158,697 18-
PORTRUSH PRESBYTERIAN CHURCH ids. chortered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Investment property (Continued) The investment property is no. 14 Mark Street, Portrush. It was previously the church caretaker's house, but was let on an arms, length basis in 2018 and was reclassified as an investment propety ll the year ended 31 December 2018. The property Was revalued in January 2024 by R Davis & Company. 17 Flxed asset investments Llsted investments Cost or valuation At 1 January 2024 Valuation changes 119,809 5,664 Al 31 December 2024 125,473 Carrying amount At 31 December 2024 125,473 At 31 December 2023 119,809 18 Trade and other receivables 2024 2023 Amounts falling due within one year.. other receivables Prepayments and accrued income 4,548 392 4,835 560 4,940 5,395 19 Current liabilities 2024 2023 Other taxation and social security Accruals and deferred income 407 500 305 500 907 805 19-
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 20 Analysis of net assets between funds Unrestricted funds 2024 Restricted Endowment funds fund5 2024 2024 Total 2024 At 31 December 2024: Property, plant and equipment Investment properties Investmen15 Current asselsl{liabilities) 7,064,254 158,697 48,486 170,291 7,064,254 158,697 125,473 293,057 76,987 8,408 114,358 114,358 7,441,728 85,395 7,641,481 Un restrlcted funds 2023 Restricted Endowment funds funds 2023 2023 Total 2023 At 31 December 2023: Property, plant and equipment Investment properties Investments Current assetsllliabilities} 7.064,254 158,697 46,298 162,600 7,064,254 158,697 119,809 234,011 73,511 6,913 64.498 64,498 7,431,849 BO,424 7,576,771 -20-