DRUMACHOSECONGREGATION 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 | Total | Total | ||
|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 | |||
| £ | £ | £ | £ | £ | |||
| Receipts | |||||||
| Donations and legacies | 2 | 80,215 | 46,054 | - | 126,269 | 130,542 | |
| Charitable activities | 3 | - | 24,127 | - | 24,127 | 53,182 | |
| Other trading activities | 4 | - | 2,142 | - | 2,142 | - | |
| Investment Income | 5 | 6,831 | 294 | - | 7,125 | 6,850 | |
| Other | 6 | 2,602 | 19,423 | - | 22,025 | 17,874 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Gross income | 89,648 | 92,040 | - | 181,688 | 208,448 | ||
| Sale of Investments | - | - | - | - | - | ||
| Sale of fixed assets | - | - | - | - | - | ||
| Loans Received | - | - | - | - | 50,000 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Total Receipts | 89,648 | 92,040 | - | 181,688 | 258,448 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Payments | |||||||
| Raising funds | 7 | 749 | - | - | 749 | 761 | |
| Charitable activities | 8 | 102,346 | 32,768 | - | 135,114 | 129,101 | |
| Investment costs | - | - | - | - | - | ||
| Other | 9 | - | 143,790 | - | 143,790 | 83,687 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| 103,095 | 176,558 | - | 279,653 | 213,549 | |||
| Purchase of Investments | - | - | - | - | - | ||
| Purchase of fixed assets | - | - | - | - | - | ||
| Loan Repayments | - | 17,542 | - | 17,542 | - | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Total Payments | 103,095 | 194,100 | - | 297,195 | 213,549 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Net receipts / (payments) | (13,447) | (102,060) | - | (115,507) | 44,899 | ||
| Transfers between funds | (108) | 108 | - | - | - | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Net movement in funds | (13,555) | (101,952) | - | (115,507) | 44,899 | ||
| Funds brought forward | 78,773 | 126,016 | - | 204,789 | 159,890 | ||
| ---------- | --------- | ---------- | ---------- | ---------- | |||
| Funds carried forward | 12 | 65,218 | 24,064 | - | 89,282 | 204,789 | |
| ====== | ====== | ====== | ====== | ====== |
15
DRUMACHOSECONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES
As at 31 December 2024
| As at 31 December 2024 | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total Funds | Total Funds | |
| Funds | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| Funds Reconciliation | |||||
| Bank and Cash at start of year | 78,773 | 126,016 | - | 204,789 | 159,890 |
| Net movement in funds | (13,555) | (101,952) | - | (115,507) | 44,899 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| Bank and Cash at end of year | 65,218 | 24,064 | - | 89,282 | 204,789 |
| ======- | ======= | ======= | ======= | ======= | |
| Bank & Cash Balances | |||||
| Bank Deposit Accounts | - | - | |||
| Bank Current Accounts | 89,282 | 204,789 | |||
| Cash in Hand | - | - | |||
| ---------- | ---------- | ||||
| 89,282 | 204,789 | ||||
| ======= | ======= | ||||
| Other Assets | |||||
| Fixed Assets – Note 10 | |||||
| - Church Premises, halls, | 2,587,321 | 2,464,115 | |||
| bungalow, fittings, plant and | |||||
| machinery (insured value) | |||||
| - Manse at 56 Killane Road, | 573,594 | 546,280 | |||
| Limavady (insured value) | |||||
| - Rental property at 2 Crawford | 192,286 | 183,130 | |||
| Square, Limavady (insured value) | |||||
| Investments – Note 11 | 35,163 | 34,324 | |||
| ---------- | ---------- | ||||
| 3,388,363 | 3,227,849 | ||||
| ======= | ======= | ||||
| Liabilities | |||||
| Loans | 33,333 | 50,000 | |||
| ---------- | ---------- | ||||
| 33,333 | 50,000 | ||||
| ======= | ======= |
Approved by the Kirk Session at a meeting on 9[th] September 2025 and signed on its behalf by
Rev. David Brownlow Dr. Albert McNeill [Date] [Date]
16
DRUMACHOSECONGREGATION 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 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 congregation’sdiscretion; 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 | Restricted | Endowment | Total | Total 2023 | |||
|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | ||||
| £ | £ | £ | £ | £ | |||
| Recorded giving | 63,786 | 25,997 | - | 89,783 | 87,887 | ||
| Loose collections | 634 | 5,810 | - | 6,444 | 7,243 | ||
| Donations and gifts | 265 | 4,130 | - | 4,395 | 5,328 | ||
| Gift Aid | 15,530 | 10,117 | - | 25,647 | 28,584 | ||
| Legacies and bequest | - | - | - | - | 1,500 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| 80,215 | 46,054 | - | 126,269 | 130,542 | |||
| ---------- | ---------- | ---------- | ---------- | ---------- |
17
DRUMACHOSECONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS
31 December 2024
3. CHARITABLE ACTIVITIES
| 3. CHARITABLE ACTIVITIES |
|||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | 2024 | Total | 2023 | |
| Funds | Funds | Funds | |||||
| £ | £ | £ | £ | £ | |||
| Fundraising events | - | 18,375 | - | 18,375 | 48,684 | ||
| Membership fees | - | 1,680 | - | 1,680 | 1,498 | ||
| Grants | - | 4,072 | - | 4,072 | 3,000 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| - | 24,127 | - | 24,127 | 53,182 | |||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| 4. OTHER TRADING ACTIVITIES | |||||||
| Unrestricted | Restricted | Endowment | Total | Total | 2023 | ||
| Funds | Funds | Funds | 2024 | ||||
| £ | £ | £ | £ | £ | |||
| Letting of premises | - | 2,142 | - | 2,142 | - | ||
| Trading income | - | - | - | - | - | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| - | 2,142 | - | 2,142 | - | |||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| 5. INVESTMENT INCOME | |||||||
| Unrestricted | Restricted | Endowment | Total | Total | |||
| Funds | Funds | Funds | 2024 | 2023 | |||
| £ | £ | £ | £ | £ | |||
| Deposit interest | - | 103 | - | 103 | 66 | ||
| Rents investment properties | 6,000 | - | - | 6,000 | 6,000 | ||
| Other investment income | 831 | 191 | - | 1,022 | 784 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| 6,831 | 294 | - | 7,125 | 6,850 | |||
| ---------- | ---------- | ---------- | ---------- | ---------- |
18
DRUMACHOSECONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)
31 December 2024
6. OTHER INCOME
| 6. | OTHER INCOME | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | ||
| Funds | Funds | Funds | 2024 | 2023 | ||
| £ | £ | £ | £ | £ | ||
| Listed Places of Worship Grant | - | 19,423 | - | 19,423 | 13,845 | |
| Other income | 2,602 | - | - | 2,602 | 4,029 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 2,602 | 19,423 | - | 22,025 | 17,874 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 7. | RAISING FUNDS | |||||
| Unrestricted | Restricted | Endowment | Total 2024 | Total 2023 | ||
| Funds | Funds | Funds | ||||
| £ | £ | £ | £ | £ | ||
| FWO envelopes | 749 | - | - | 749 | 761 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 749 | - | - | 749 | 761 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 8. | CHARITABLE ACTIVITIES | |||||
| Unrestricted | Restricted | Endowment | Total 2024 | Total | ||
| Funds | Funds | Funds | 2023 | |||
| £ | £ | £ | £ | £ | ||
| General Assembly Assessments | 15,643 | - | - | 15,643 | 14,313 | |
| Presbytery fees | 523 | - | - | 523 | 501 | |
| Ministry and support staff costs | 53,146 | - | - | 53,146 | 49,706 | |
| Congregational running expenses | 32,334 | 17,506 | - | 49,840 | 50,806 | |
| Donations to Missions and charities | 700 | 15,262 | - | 15,962 | 13,775 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 102,346 | 32,768 | - | 135,114 | 129,101 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- |
19
DRUMACHOSECONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2024
9. OTHER EXPENDITURE
| 9. OTHER EXPENDITURE |
|||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total 2024 | Total | |
| Funds | Funds | Funds | 2023 | ||
| £ | £ | £ | £ | £ | |
| Church windows repairs | - | 107,790 | - | 107,790 | 50,381 |
| Church heating system replaced | - | - | - | - | 33,306 |
| Church building painted | - | 36,000 | - | 36,000 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| - | 143,790 | - | 143,790 | 83,687 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
10. FIXED ASSETS
The congregation owns the Church premises, halls and garage situated at 27 Church Street, Limavady and the associated fixtures, fittings, plant and machinery. These have an insurance value of £2,587,321 at the last renewal date 31[st] October 2024.
The congregation also owns the Manse at 56 Killane Road, Limavady, which has an insurance valuation of £573,594and a house originally provided for the Sexton at 2 Crawford Square, Limavady with insurance valuation of £192,286.
11. INVESTMENTS
The congregation has the following investments. Amounts are shown at market valuation.
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| General Investment Fund | 24,955 | 23,828 |
| 4.25% Treasury Stock | 10,208 | 10,496 |
| ---------- | ---------- | |
| 35,163 | 34,324 | |
| ---------- | ---------- |
20
DRUMACHOSE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)
31 December 2024
12. FUND BALANCES
| Fund | Balance at | Receipts | Payment | Surplus / | Transfer | Balance at |
|---|---|---|---|---|---|---|
| start | (Deficit) | end | ||||
| £ | £ | £ | £ | £ | £ | |
| Unrestricted Funds | ||||||
| General Fund | 78,773 | 89,648 | 103,095 | - | (108) | 65,218 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 78,773 | 89,648 | 103,095 | - | (108) | 65,218 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| Restricted Funds | ||||||
| Property Fund | 113,803 | 64,888 | 167,814 | - | - | 10,877 |
| Manse Fund | - | - | - | - | - | - |
| Missions and Charities Fund | 3,259 | 13,929 | 12,106 | - | - | 5,082 |
| Sunday School | - | 80 | 1,038 | - | 958 | - |
| Meeting Point | 607 | - | 311 | - | - | 296 |
| Youth Fellowship | 284 | 260 | 460 | - | 150 | 234 |
| Men’s Fellowship | 294 | 1,657 | 1,656 | - | - | 295 |
| Presbyterian Women | 594 | 1,642 | 1,476 | - | - | 760 |
| Boys’ Brigade | 3,227 | 3,434 | 3,576 | - | (500) | 2,585 |
| Girls’ Brigade | 3,745 | 6,147 | 5,663 | - | (500) | 3,729 |
| Bowling Club | - | - | - | - | - | - |
| Golfing Society | 203 | 3 | - | - | - | 206 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 126,016 | 92,040 | 194,100 | - | 108 | 24,064 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| Endowment Funds | ||||||
| - | - | - | - | - | - | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| - | - | - | - | - | - | |
| ---------- | ----------- | ----------- | ----------- | ----------- | ---------- | |
| Total | 204,789 | 181,688 | 297,195 | - | - | 89,282 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- |
21