NEWMILLS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT
STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) As at the year ended 31 December 2023
| Note | Unrestricted Funds |
Restricted Funds |
Endowment Funds |
Total 2024 | Total 2023 | |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||
| Receipts | ||||||
| Donations and legacies |
2 | 54,240 | 40,856 | - | 95,096 | 75,514 |
| Charitable activities | 3 | 1,275 | 19,567 | - | 20,842 | 24,773 |
| Other trading activities |
4 | 100 | - | - | 100 | 100 |
| Investment Income | 5 | 961 | 401 | - | 1,362 | 1,103 |
| Other | 6 | 6,801 | - | - | 6,801 | 13,757 |
| Total | 63,377 | 60,824 | - | 124,201 | 115,247 | |
| Sale of | ||||||
| Investments | - | - | - | - | - | |
| Sale of fixed assets | - | 10,000 | - | 10,000 | 310,734 | |
| Loans Received | - | - | - | - | - | |
| Total Receipts | 63,377 | 70,824 | - | 134,201 | 425,981 | |
| Payments | ||||||
| Raising funds | 7 | 655 | - | - | 655 | 625 |
| Charitable activities | 8 | 59,438 | 18,070 | - | 77,508 | 82,810 |
| Investment costs | - | - | - | - | - | |
| Other (Property) | 9 | - | 267,500 | - | 267,500 | 56,238 |
| Purchase of | ||||||
| Investments | - | - | - | - | - | |
| Purchase of fixed | ||||||
| assets | - | - | - | - | - | |
| Loan Repayments | - | - | - | - | - | |
| Total Payments | 60,093 | 285,570 | - | 345,663 | 136,973 | |
| Net receipts / (payments) |
3,284 | (214,745) | - | (211,462) | 286,308 | |
| Transfers between | ||||||
| funds | - | - | - | |||
| Net movement in funds |
3,284 | (214,745) | - | (211,462) | 286,308 | |
| Funds brought forward |
- | - | 81,031 | |||
| Funds carried forward |
12 | 33,526 | 121,600 | - | 155,126 | 367,339 |
Page 11 of 16
NEWMILLS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT
STATEMENT OF ASSETS AND LIABILITIES
| STATEMENT OF ASSETS AND LIABILITIES | |
|---|---|
| Unrestricted Funds Restricted Funds Endowment Funds £ £ £ Funds Reconciliation Bank and Cash at start of year 30,248 337,091 - Net movement in funds 3,278 (189,125) - |
Total 2024 Total 2023 £ £ 367,339 81,031 (185,847) 286,308 |
| Bank and Cash at end of year 33,526 147,966 - |
181,492 367,339 |
| Bank & Cash Balances Nat West Shares Bank Current Accounts Cash in Hand Other Assets Fixed Assets – Note 10 Church Premises Manse and Land Fixtures, Fittings & Equipment Vehicles Investments – Education Board Gift Aid receivable on donations Liabilities Loans Other |
1,697 1,697 365,642 - - |
| 1,697 367,339 |
|
| 1,241,000 1,241,000 135,500 135,500 - - 3,500 29,866 - - |
|
| 1,380,000 1,406,366 |
|
| - - - - - - |
Page 12 of 16
NEWMILLS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT
NOTES TO THE ACCOUNTS
As at 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’s discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place.
Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis.
Unrestricted funds are income funds which are to be spent on the congregation’s general purposes. Designated funds are general funds set aside by the congregation for use in the future.
2. DONATIONS AND LEGACIES
| 2. DONATIONS AND |
LEGACIES | ||||
|---|---|---|---|---|---|
| Unrestricted Funds |
Restricted Funds |
Endowment Funds |
Total 2024 | Total 2023 | |
| £ | £ | £ | £ | £ | |
| Recorded giving | 45,931 | 28,598 | - | 74,529 | 61,452 |
| Loose collections | 2,168 | 852 | - | 3,020 | 2,613 |
| Donations and gifts | - | 7,915 | - | 7,915 | 2,925 |
| Gift Aid | 6,141 | 3,491 | - | 9,632 | 8,524 |
| Legacies and bequest | - | - | - | - | - |
| Total | 54,240 | 40,856 | - | 95,096 | 75,514 |
3. CHARITABLE ACTIVITIES
| 3. CHARITABLE ACTIVITIES |
|||||
|---|---|---|---|---|---|
| Unrestricted Funds |
Restricted Funds |
Endowment Funds |
Total 2024 | Total 2023 | |
| £ | £ | £ | £ | £ | |
| Income from charitable activities |
- | 7,559 | - | 7,559 | 12,606 |
| Fees from weddings and | |||||
| funerals | - | - | - | - | - |
| Fundraising events | - | 4,228 | - | 4,228 | 1,440 |
| Membership fees | - | 5,248 | - | 5,248 | 5,023 |
| Grants 1,275 |
2,532 | - | 3,807 | 5,704 | |
| Total 1,275 |
19,567 | - | 20,842 | 24,773 |
Page 13 of 16
NEWMILLS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT
4. OTHER TRADING ACTIVITIES
| Unrestricted Funds Restricted Funds |
Endowment Funds Total 2024 |
Total 2023 | |
|---|---|---|---|
| £ £ |
£ £ |
£ | |
| Letting of manse field | 100 |
- - 100 | 100 |
| Trading income | - | - - - | - |
| Total | 100 |
- - 100 | 100 |
5. INVESTMENT INCOME
| Unrestricted Funds |
Restricted Funds |
Endowment Funds |
Total 2024 | Total 2023 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Deposit interest | 252 | 401 | - | 654 | 394 |
| General Investment Fund | 574 | - | - | 574 | 590 |
| Rents investment properties | - | - | - | - | - |
| Other investment income | 134 | - | - | 134 | 119 |
| Total | 961 | 401 | - | 1,362 | 1,103 |
6. OTHER INCOME
| 6. OTHER INCOME | ||
|---|---|---|
| Unrestricted Funds Restricted Funds |
Endowment Funds Total 2024 |
Total 2023 |
| £ £ |
£ £ |
£ |
| Insurance claims - |
- - - | - |
| Other income 6,801 |
- - 6,801 | 13,757 |
| Total 6,801 |
- - 6,801 | 13,757 |
7. RAISING FUNDS
| 7. RAISING FUNDS |
||||
|---|---|---|---|---|
| Unrestricted Funds |
Restricted Funds |
Endowment Funds Total 2024 |
Total 2023 | |
| £ | £ | £ £ |
£ | |
| FWO Envelopes | 655 |
- - 655 | 625 | |
| Fundraising Events | - | - - - | - | |
| Total | 655 | - - 655 | 625 |
Page 14 of 16
NEWMILLS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT
8. CHARITABLE ACTIVITIES
| Unrestricted Funds |
Restricted Funds |
Endowment Funds Total 2024 |
Total 2023 | |
|---|---|---|---|---|
| £ | £ | £ £ |
£ | |
| General Assembly Assessments |
2,760 | - | - 2,760 | 3,441 |
| Presbytery fees | 359 | - | - 359 | 254 |
| Ministry and support staff costs |
29,796 | - | - 29,796 | 33,220 |
| Congregational running expenses |
26,522 | 4,727 | - 31,250 | 25,575 |
| Donations to Missions and charities |
- | 8,917 | - 8,917 | 10,052 |
| Governance costs | - | 4,425 | - 4,425 | 10,893 |
| Total | 59,438 | 18,070 | - 77,508 | 83,435 |
9. OTHER EXPENDITURE
| 9. OTHER EXPENDITURE |
||||
|---|---|---|---|---|
| Unrestricted Funds |
Restricted Funds |
Endowment Funds |
Total 2024 |
Total 2023 |
| £ | £ | £ | £ | £ |
| Property Expenses |
- 267,500 | - 267,500 | 56,238 | |
| Total |
- 267,500 | - 267,500 | 56,238 |
10. FIXED ASSETS
The congregation owns the Church premises situated at 96, Roughan Road, 71, Farlough Road and Derry Road, Coalisland and the associated fixtures, fittings, plant and machinery. These have an insurance value of £1579245 at last renewal date.
Page 15 of 16
NEWMILLS CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT
11. INVESTMENTS
The congregation has the following investments. Amounts are shown at market valuation.
| Unrestricted Funds |
Restricted Funds |
Endowment Funds |
Total 2024 | Total 2023 |
|---|---|---|---|---|
| £ | £ | £ | £ | £ |
| General Investment Fund | 1,990 | 1,990 | 1,990 | |
| PCI Education Board | - | - | 26,366 | |
| Nat West Shares | 1,860 | 1,860 | 1,510 | |
| Property | - | - | ||
| Other investments | - | - - |
- | - |
| Total |
- | - 3,850 | 3,850 | 29,866 |
12. FUND BALANCES
| 12. FUND BALANCES |
||||||
|---|---|---|---|---|---|---|
| Balance at Start |
Income | Expenditure | Surplus (Deficit) |
Transfers | Balance at End |
|
| £ | £ | £ | £ | £ | £ | |
| UNRESTRICTED FUNDS | ||||||
| General Fund | 30,248 | 65,442 | 62,164 | 3,278 | - | 33,526 |
| Total General Funds | 30,248 | 65,442 | 62,164 | 3,278 | - | 33,526 |
| RESTRICTED CONGREGATIONAL FUNDS | ||||||
| Building Fund | 30,831 | 6,205 | 2,041 | 4,164 | - | 34,995 |
| New Manse Fund | 298,814 | 43,147 | 265,460 | (222,313) | - | 76,501 |
| Organisations | 7,446 | 12,597 | 9,939 | 2,658 | - | 10,104 |
| Charities & Missions | - | 7,660 | 7,660 | - | - | |
| Total Restricted Funds | 337,091 | 69,609 | 285,100 | (215,491) | - | 121,600 |
| ENDOWMENT FUNDS | ||||||
| Nat West Shares | 1,510 | 350 | - | - | 1,860 | |
| BOI/PB Society | 26,366 | - | - | (26,366) | - | |
| PCI Invest | 1,990 | - | - | - | 1,990 | |
| Total Endowment Funds | 29,866 | 350 | - | - | (26,366) | 3,850 |
| TOTAL FUNDS | 397,205 | 135,401 | 347,264 | (212,213) | (26,366) | 158,976 |
Page 16 of 16