# Waterside Presbyterian Church a congregation of the Presbyterian Church in Ireland
Trustees Annual Report and Financial Statements for the year ended 31 December 2025
Registered with the Charity Commission for Northern Ireland NIC105611
WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustees present their Annual Report and Financial Statements for the year ended 31 December 2025 including a Balance Sheet as at that date.
## REFERENCE AND ADMINISTRATIVE DETAILS
Waterside congregation of the Presbyterian Church in Ireland Clooney Terrace, Londonderry BT47 6AR
Registered Charity in Northern Ireland (NIC105611)
## CHARITY TRUSTEES
The Charity Trustees who served during the year or who were trustees at the date of this report were;
|MrJohn|John Allen|Mr Mitchell Caldwell|
|---|---|---|
|MrJames|James McCarter|Dr Colin Hamilton|
|Mr|Don McClay|Mr Morris McCarter|
|Mr|William Mcllwaine|Mrs Hilary McClintock|
|Mr|DavidWalker||
## PRINCIPAL OFFICE BEARERS
Convenor Rev Colin W A Jones B.Th. Clerk of Session Mr William A Mcilwaine, BA., DASE Treasurer Mrs Hilary McClintock, B.Sc
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WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
## INDEPENDENT EXAMINER
Moore (NI) LLP 21/23 Clarendon Street Londonderry BT48 7EP
## BANKERS
Danske Bank 27 Glenshane Road Londonderry BT47 2LN
Progressive Building Society 3 Millennium Forum Newmarket Street Londonderry BT47 6EB
SOLICITORS McCay Legal 1 Limavady Road Londonderry BT47 6JU
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WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
## STRUCTURE AND MANAGEMENT
## The Kirk Session
The charity trustees of the congregation are the members of its 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. It ensures 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 and the ruling elders of the congregations. All members are entitled to propose, speak and exercise equal votes at meetings, except the Moderator and the ministers in active duty in the congregation who have no deliberative but only a casting vote. During the past year the Kirk Session has met on four occasions under the Convenorship of Rev Colin Jones.
To be chosen for the office of the eldership in the congregation a person must be a voting member and a regular attendant on its ordinances. The selection of those proposed to be called to the office can be either by the congregation or by the Kirk Session. Members are elected if they obtain two-thirds of those who vote.
## Presbytery
Under the Presbyterian Church in Ireland form of governance the corporate oversight of a congregation is the responsibility of a Presbytery which superintends generally the spiritual and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterian Church in Ireland. Waterside Presbyterian Church has been assigned to the Derry & Donegal Presbytery of the Presbyterian Church in Ireland. The membership of the Presbytery consists mainly of the active ministers of congregations assigned to it by the General Assembly, minsters who have retired from active duty and an elder appointed by the Kirk Session of each congregation.
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## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
## The General Assembly
The General Assembly is the supreme court of the Church, representing in one body the whole Church and acting as its supreme legislative, administration and judicial authority, in dealing with all matters brought before it. The General Assembly is normally constituted during the first week 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 minsters and a representative elder appointed by the Kirk Session of each congregation.
## DESCRIPTION AND PURPOSE
Waterside Presbyterian Church is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Reformed 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 members to play their part in fulfilling God’s mission to our world.
The congregation’s mission purposes is by the grace of God, to help people of all ages become fully devoted followers of Jesus Christ. Our vision is, by the grace of God, to be an inclusive, welcoming community of Christ’s people of all ages, which:
- is increasingly characterised by love for God, and love and concern for others;
- iS committed to the historic Christian gospel as revealed in the Bible;
- - js relevant to people of this time and place.
- The congregation aims to live out its Mission and Vision as a family of God’s people by being: - A Covenant Community: where our relationships are rooted in the promises of God by living faithfully toward him and toward one another;
- An Intergenerational Community: where adults intentionally take the lead to engage with, encourage and nurture younger members to maturity in Christ;
- An Outward looking Community: where we want the blessings of God that belong to us in the gospel to become blessings for others beyond the bounds of our community;
- Asa congregation of the Presbyterian Church in Ireland, we believe that the Bible is the supreme authority over all we do, and that the Westminster Confession of Faith, along with the Larger and Shorter Catechisms set out what we understand the Bible teaches on key matters of Christian faith and practice.
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## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
## ACTIVITIES AND OBJECTIVES
The congregation meets for worship every Sunday. The Sacrament of the Lord’s Supper was observed in January, May and October 2025 and all those who have been baptised and who have made a profession of faith in the Lord. Jesus Christ are admitted to the Lord’s Supper. The congregation held midweek Bible study meetings and has a wide range of organisations including;
- Sunday School - Presbyterian Women - Midweek Bible Study - Choir - Boys’ Brigade - Walking Group - Thursday Club
## ACHIEVEMENTS AND PERFORMANCE
## Worship and prayer
Worship each Sunday allows face to face fellowship and the coming together to worship God.
At 31 December 2025 there were 129 communicant members and 154 families connected with the congregation.
The average weekly attendance at morning worship was 82.
## Pastoral care
Members of the congregation who are unable to attend church due to sickness or age are visited on a regular basis by the minister, elders or by one of the congregation’s pastoral visitors. Some of these members receive CD’s of our morning services.
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WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
## Mission and outreach
The number of Ukrainian families continues to grow. The church and individuals within the congregation continue to offer support in a variety of ways including providing accommodation, furniture, heating oil, clothing and arranging schools for their children. By the end of the year the Ukrainian congregation was in excess of 50 adults and children. The Ukrainians attend morning worship each week and have fully integrated into the life of the church. The children are attending Sunday School and the boys have joined the Boys Brigade.
This year we have been pleased to welcome 8 adults and 1 child from Iran to our congregation where they are integrating into life in our fellowship.
The congregation supports the United Appeal for Mission which is a central fund of the Presbyterian Church in freland. This fund enables congregations to support the wider mission of the denomination and to do mission and outreach on denominational basis beyond what the congregation could do on its own. The United Appeal Fund provides financial support for mission personnel at home and overseas, assists congregations with the deployment of locally based staff, enables church planting, provides grant support for the upkeep of church premises, assist with the running costs of Union Theological College, the Church’s training college for ministry students, and financially supports congregation in the areas of worship, discipleship, global mission, outreach, leadership and pastoral care.
## Presbytery
The congregation was represented at the regular meetings of Presbytery by our Convenor and one of the elders. This provides an important link between the congregations and the wider structures of the church.
## General Assembly
The Convenor 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 2025.
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## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
## Organisations
The Sunday School meets each week during the morning service with a dual language approach to facilitate our mixed nationalities. We have a team of Ukrainian ladies and teenagers who voiunteer on a rota basis to assist with the language issues.
The PW group meets on the first Monday of each month from September to April with a range of guest speakers. The PW are pleased to note an increase in membership during the year.
The Midweek Bible Study met each Wednesday for an in depth study of various books of the bible as well as praying for the ongoing work of the church at home and abroad.
The Thursday Club catered for the older members of the congregation and met from 10.00 — 12.00noon each week. There was an average attendance of twenty-seven and the members enjoyed quizzes, bowls, table tennis, pool, tabletop games, craft activities, social interaction and refreshments.
The Boys’ Brigade (6 Londonderry Company) consists of three sections — anchor boys, juniors and company section. They meet in Lisneal College — anchor boys and juniors on a Tuesday evening and the company section on a Friday evening from September to April. By means of a variety of activities they seek to promote their motto of “Advancing Christ’s Kingdom among Boys”.
The Waterside Walking Group enjoyed several walks and visits during the year to Portballintrae, Porthall, Rathmullan, Muff and around the bridges in Londonderry.
During the year the Youth Committee organised a number of events including an afternoon tea, church excursion to Castlerock and an outing to Killymoon.
## Volunteers
The Trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees and helping with organisations and other church activities.
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## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
## 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 in 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 to 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 facilitated 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, and 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 charitable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families, other individuals that the Presbyterian Church in Ireland is in direct and indirect contact with, 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, charities and individual members of the public.
The Kirk Session has had regard to the Charity Commissions public benefit requirement statutory guidance.
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## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
## FINANCIAL REVIEW
The congregation’s main source of income is members’ contributions through the Weekly Freewill Offering. There were 121 contributors during the year (149 during the previous year, 2024) donating a total of £62,012 (£62,581 in previous year, 2024).
Total Income for the year was £122,501 compared to £281,231 in the previous year. In 2024 a bequest of £137,688 was included within income.
Total expenditure decreased from £145,511 to £133,003. This decrease was mainly due to the reduction in repair costs in current year.
## 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 at the date of approval of these financial statements to meet commitments which will arise in the year from the date of signing this report and subject to the continuing support from members to fund on an ongoing basis the congregation’s current activities and other financial commitments.
## RESERVES POLICY
The Trustees have considered the level of unrestricted reserves that it is appropriate to hold taking account of current and ongoing commitments. It is the policy of the Trustees to hold at least three months’ normal expenditure. At the year end, unrestricted reserves were £874,389, which represents a higher level of reserves. The Trustees, however, consider it prudent to hold reserves at this level as the funding of its present activities is dependent of the ongoing financial support of members.
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## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
## STATEMENT OF TRUSTEE RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Northern Ireland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees’ report was approved by the Kirk Session on 23 February 2026 and signed on its behalf by;
Rev Colin W A Jones
Convenor
William A. McIlwaine Clerk of session
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## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN
IRELAND
## INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
We report to the Trustees on our examination of the financial statements of Waterside Presbyterian Church for the year ended 31 December 2025.
## Respective responsibilities of charity trustees and examiner
As the Trustees of the Church you are responsible for the preparation of the financial statements in accordance with the Charities Act (Northern Ireland) 2008. It is our responsibility to:
- e examine the accounts under section 65 of the Charities Act e follow the procedures laid down in the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act
- e to state whether particular matters have come to our attention.
## Basis of independent examiner’s report
We have examined your Church’s financial statements as required under section 65 of the Charities Act and our 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. The examination included a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also included consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as church trustees concerning any such matters.
- Our role is to state whether any material matters have come to our attention giving us cause to believe:
1. That accounting records were not kept in accordance with section 63 of the Charities Act
2. That the financial statements do not accord with those accounting records 3. That the financial statements do not comply with the accounting requirements of the Charities Act
4. That there is further information needed for a proper understanding of the financial statements to be reached.
We have completed our examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. iUdorg ( 1) LL
Moore (NI) LLP 21/23 Clarendon Street Londonderry BT48 7EP Date: 23 February 2026
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## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## STATEMENT OF FINANCIAL ACTIVITY
for the year ended 31 December 2025
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|||£|£|£|£|£|£|
|Income and Endowments||||||||
|from:||||||||
|Donations and legacies|3|49,677|37,193|86,870|185,244|35,656|220,900|
|Charitable activities|4|1,045|1,400|2,445|889|1,887|2,776|
|Other trading activities|5|10,192|9,593|19,785|23,481|3,512|26,993|
|Investments|6|13,352|49|13,401|13,521|9|13,530|
|Other Income|7|-|-|-|-|17,032|17,032|
|Total||74,266|48,235|122,501|223,135|58,096|281,231|
|Expenditure on:||||||||
|Raising funds|8|489|-|489|454|-|454|
|Charitable activities|9|53,945|39,928|93,873|54,192|62,200|116,392|
|Other|10|22,178|16,463|38,641|19,854|8,811|28,665|
|Total||76,612|56,391|133,003|74,500|71,011|145,511|
|Net Income/ (expenditure)||(2,346)|(8,156)|(10,502)|148,635|(12,915)|135,720|
|Transfers between funds||(798)|798|-|(91,457)|91,457|-|
|Netmovement infunds||(3,144)|(7,358)|(10,502)|57,178|78,842|135,720|
|Reconciliation of funds:||||||||
|Total funds brought||877,533|173,704|1,051,237|820,355|95,162|915,517|
|forward||||||||
|Totalfundscarriedforward||874,389|166,346|1,040,735|877,533|173,704|1.051,237|
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## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## BALANCE SHEET
As at 31 December 2025
||||2025||2024|
|---|---|---|---|---|---|
|-||||||
||Notes|£|£|£|£|
|Fixed assets||||||
|Tangible Assets|12||475,047||479,025|
|Investments|13||100||100|
||||475,147||479,125|
|Currentassets||||||
|Cash at bank and in hand|14|565,588||572,112||
|Net current assets|||565,588||572,112|
|Net assets|||1,040,735||1,051,237|
|The funds ofthe charity||||||
|Restricted income funds|15||166,346||173,704|
|Unrestricted funds|15||874,389||877,533|
||||1,040,735||1,051,237|
The financial statements were approved by the Kirk Session on 23 February 2026 and signed on its behalf by:
ee ; i Rev, Colin W A Jones Convenor ” Ds
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William A. Mcllwaine
Clerk of Session
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WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## NOTES TO THE ACCOUNTS
31 December 2025
## 1. ACCOUNTING POLICIES
## 1.1 BASIS OF FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with the charity's governing document, 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The parish meets the definition of a public benefit entity under FRS 102.
The financial statements have been prepared under the historical cost convention except for freehold property assets, which are shown at market value. 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 informal gatherings of church members.
1.2 GOING CONCERN
The Church generally meets its day to day working capital requirements from its annual income. The Trustees have obtained and reviewed cash flow for the coming year and based on that are satisfied that the Church has resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable future. Therefore, these financial statements have been prepared on a going concern basis.
1.3 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.
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WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## NOTES TO THE ACCOUNTS (CONTINUED)
## 31 December 2025
## 1. ACCOUNTING POLICIES (cont’d)
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.
1.4 INCOMING RESOURCES
(i) | Recognition of incoming resources
These are included in the Statement of Financial Activities (SoFA) when:
e the congregation becomes entitled to the resources;
- the trustees are virtually certain they will receive the resources; and
e the monetary value can be measured reliably.
(ii) 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.
(iif) Grants and donations Grants and donations are only included in the SoFA when the congregation has unconditional entitlement to the resources.
(iv) Tax reclaims on donations and gifts Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.
(v) Contractual income and performance related 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 sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.
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## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN
## IRELAND
## NOTES TO THE ACCOUNTS (CONTINUED)
31 December 2025
## eee 1. ACCOUNTING POLICIES (cont’d)
## (vii) Donated services 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 these 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 investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
## 1.5 EXPENDITURE AND LIABILITIES
(xi) Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources.
(xii) 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.
## (xiii) Grants with performance conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.
## (xiv) Grants payable without performance conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.
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## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN
IRELAND
## NOTES TO THE ACCOUNTS (CONTINUED)
31 December 2025
## i 1. ACCOUNTING POLICIES (cont’d)
## 1.6 TANGIBLE FIXED ASSETS
The assets of the congregation comprise of the Church Building and the Manse.
The Church building is deemed to be a Heritage Asset as defined by the Charities SORP (FRS102). The asset is not included on the balance sheet as information on the cost of valuation is not available and such information cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the congregation.
The manse is recognised at deemed cost, being the valuation placed on the property by the congregation. No depreciation has been provided on the Manse as the current residual value is not less than it’s carrying value and the remaining useful life currently exceeds 50 years.
Office equipment and fixtures and fittings are recognised at cost and are depreciated on a straight line basis over a period of 5 or 10 years. The assets residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.
Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the new disposal proceeds and the carrying amount is recognised in the statement of financial activated and included in ‘Other operating (losses)/gains’.
## 1.7. TAXATION
Waterside Presbyterian Church is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities.
## 1.8 EMPLOYEE BENEFITS
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN
IRELAND
NOTES TO THE ACCOUNTS (CONTINUED) 31 December 2025
## 2. CRITICAL ACCOUNTING ESIMATES 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 revision and future periods where the revision affects both current and future periods.
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3. | DONATIONS AND LEGACIES
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||£|£|£||£|£|
|Recorded giving:|||||||
|Loose collections|43,953|1,706||-|45,659|43,512|
|Donations and gifts|-|31,480||-|31,480|30,111|
|Gift Aid|5,724|4,007||-|9,731|9,589|
|Davidson Bequest|-|-||-|-|137,688|
||49,677|37,193||-|86,870|220,900|
|Fortheyearended31December2024|185,244|35,656|||||
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WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## NOTES TO THE ACCOUNTS (CONTINUED)
31 December 2025
## 4. CHARITABLE ACTIVITIES
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Subscriptions 1,045 - - 1,045 889
Grants - 1,400 - 1,400 1,887
1,045 1,400 - 2,445 2,776
For the year ended 31 December 2024 889 =1,887
5. OTHER TRADING ACTIVITIES
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Bou oy Sou uh i
oS po os ies) at
eS $5 25 88 38
= bh em reese FEN EN
£ £ £ £ £
Rental income 10,192 9,593 - 19,785 26,993
10,192 9,593 - 19,785 26,993
For the year ended 31 December 2024 23,481 3,512
**----- End of picture text -----**
## 5. OTHER TRADING ACTIVITIES
19
WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
**----- Start of picture text -----**
NOTES TO THE ACCOUNTS (CONTINUED)
31 December 2025
6. INVESTMENT INCOME
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£ £ £ £ £
Bank and Deposit interest 13,352 49 - 13,401 13,530
13,352 49 - 13,401 13,530
For the year ended 31 December 2024 13,521 9
7. OTHER INCOME
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£ £ £ £ £
Insurance monies - - - - 17,032
- - - - 17,032
For the year ended 31 December 2024 - 17,032
**----- End of picture text -----**
20
WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## NOTES TO THE ACCOUNTS (CONTINUED)
31 December 2025
|8.
RAISING FUNDS|||||||
|---|---|---|---|---|---|---|
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||£|£|£||£|£|
|FWO envelopes|489|-||-|489|454|
||489|-||-|489|454|
|Forthe year ended 31 December 2024|454|-|||||
|9.
CHARITABLE ACTIVITIES|||||||
||TS||~||||
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||£|£|£||£|£|
|General AssemblyAssessments|6,685|-||-|6,685|4,836|
|Presbyteryfees|634|-||-|634|610|
|Ministry and support staff costs|17,925|-||-|17,925|19,976|
|Congregational running|7,895|25,735||-|33,630|56,578|
|expenses|||||||
|Donations to Missions and|20,806|14,193||-|34,999|34,392|
|charities|||||||
||53,945|39,928||-|93,873|116,392|
|Fortheyearended31December2024|54,192|62,200|||||
21
## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## NOTES TO THE ACCOUNTS (CONTINUED)
31 December 2025
## 10. OTHER EXPENDITURE
**----- Start of picture text -----**
|||||||||
|---|---|---|---|---|---|---|---|
|TS|~|
|o|c|ks}|wn|
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|how|ow|Su|uM|u.|
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|£|5s|os|es|0°|ono)|
|~|uw|eu|Ww|Lo|Ee|N|EN|
|£|£|£|£|£|
|Administration|expenses|5,635|8,173|-|13,808|14,118|
|Sundry|expenses|16,440|439|-|16,879|14,547|
|Depreciation|103|7,851|-|7,954|-|
|22,178|16,463|-|38,641|28,665|
|For the|year|ended|31|December|2024|19,854|8,811|
**----- End of picture text -----**
## 11. EMPLOYEES
## Employment Costs
“~ ”n z¢ =Ss a we Sa fA 0° oO FN a £ £ Wages and Salaries 1,330 1,340 Social Security Costs 370 260 1,700 1,600
22
WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## NOTES TO THE ACCOUNTS (CONTINUED)
31 December 2025
## Number of Employees
The average number of employees during the year was
## Average number of employees
**----- Start of picture text -----**
ne}2) so7)
f== ca
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Ek £8
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EN EA
£ £
1 1
**----- End of picture text -----**
There were no employees in receipt of employee benefits in excess of £60,000.
## 12. TANGIBLE FIXED ASSETS
|TANGIBLE FIXED ASSETS||||
|---|---|---|---|
|||Fixtures,||
||Freehold land|fittings and||
||and buildings|equipment|Total|
||£|£|£|
|Cost||||
|At 1 January 2025|400,000|79,025|479,025|
|Additions|-|3,976|3,976|
|At 31 December 2025|400,000|83,001|483,001|
|Depreciation and impairment||||
|At 1 January 2025|-|-|-|
|Depreciation charged in the year|-|7,954|7,954|
|At 31 December 2025|-|7,954|7,954|
|Carryingamount||||
|At 31 December 2025|400,000|75,047|475,047|
|At31December2024|400,000|79,025|479,025|
23
## WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## NOTES TO THE ACCOUNTS (CONTINUED)
31 December 2025
|13.
FIXED ASSET INVESTMENTS||||
|---|---|---|---|
||Education|||
||Board||Total|
||£||£|
|Cost or revaluation||||
|At 1 January 2025|100||100|
|Valuation changes|-||-|
|At 31 December 2025|100||100|
|Carrying amount||||
|At 31 December 2025|100||100|
|At 31 December 2024|100||100|
|14.
CASH AT BANKAND IN HAND||||
|||2025|2024|
|||£|£|
|Danske No. 1 account||48,617|64,387|
|Progressive Building Society||325,358|312,630|
|Danske Fabric Fund||79,629|83,707|
|SundaySchool||725|912|
|PLW.||1,156|1,433|
|Charlie McCay Bursary||-|1,248|
|Boys Brigade||5,788|4,090|
|Youth Council||2,958|2,599|
|Bowls and recreation||-|1,007|
|Thursday Club||1,357|99|
|Danske Fixed Term Deposit||100,000|100,000|
|||565,588|572,112|
24
WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
## NOTES TO THE ACCOUNTS (CONTINUED)
31 December 2025
## 15. FUND BALANCES AND RECONCILIATION OF FUNDS
|Funds|Total|Income|Expend.|Transfer|Total|
|---|---|---|---|---|---|
||Funds|||In/(Out)|Funds|
||2024||||2025|
||£|£|£|£|£|
|Unrestricted Funds||||||
|General Fund|64,903|65,591|76,612|(4,851)|49,031|
|Manse Fund|400,000|-|-|-|400,000|
|Progressive|312,630|12,728|-|-|325,358|
|Fixed Term Deposit|100,000|-|-|-|100,000|
||877,533|78,319|76,612|(4,851)|874,389|
|Restricted Funds||||||
|Property/Building Fund|162,216|22,904|33,587|2,728|154,261|
|United Appeal|-|5,027|6,035|1,008|-|
|Education Board|100|-|-|-|100|
|Earl Haig|~|104|150|46|-|
|World Development|-|635|635|-|-|
|Children’s Society|-|1,390|1,659|269|-|
|Sunday School|912|61|248|-|725|
|P.W.|1,433|3,560|3,837|-|1,156|
|Boys Brigade|4,090|5,060|5,410|2,048|5,788|
|Charlie McCay Bursary|1,248|-|-|(1,248)|-|
|Youth Council|2,599|1,542|1,183|-|2,958|
|Recreation Club|1,007|41|-|(1,048)|-|
|Thursday Club|99|1,259|1,048|1,048|1,358|
|Other Collections &|-|2,647|2,647|-|-|
|Appeals||||||
||173,704|44,230|56,439|4,851|166,346|
25
WATERSIDE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
**----- Start of picture text -----**
|||
|---|---|
|NOTES TO THE ACCOUNTS|(CONTINUED)|
|31 December|2025|
**----- End of picture text -----**
## 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS
**----- Start of picture text -----**
||||||
|---|---|---|---|---|
|Unrestricted|-|
|General|Restricted|Total|
|£|£|£|
|Fund|Balances|at|31|December|
|2025|are|represented|by:|
|Tangible|assets|400,414|74,633|475,047|
|Investments|-|100|100|
|Current|assets|473,975|91,613|565,588|
|874,389|166,346|1,040,735|
**----- End of picture text -----**
## 17. RELATED PARTY TRANSACTION
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Church during the year.
The congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland, a separate charity:
£6,685 for congregational assessments
£6,035 towards the United Appeal
£635 toward the World Development Appeal
The congregation contributed £634 towards Presbytery Assessments during the year.
There were no other related party transactions.
26