MAGHERAFELT REFORMED BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITY For the year ended 31 December 2024 Note Unre5trkted Funds Restricted Fund5 Total Funds 2024 Total Funds 2023 Income and Endowments from: Donations and legacies Investments Total 36,869 36,869 648 37,517 35,219 534 35.753 37,517 Expendlture on: Charitable actlvltles Total Net Incomellexpendlturel Transfers between funds Net movèment in funds 147.8231 147.8231 110,3061 147,823) 147.823) 110,306) 166.6331 166,6331 130,8801 110,3061 110,306) 130,8801 Reconclllatlon of funds: Total funds brought forward Total funds carrled forward 101.847 91,541 101.847 91,541 132,727 101,847
MAGHERAFELT REFORMED BAPTisfcHURCH STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2024 Fixed A55et5 The church owns some varlous equipment at a value of £29.320 at the year-end IE29.320 in 20231. Amounts recelvable At the end of the year the following amounts were owed to the congregatlons: 2024 2023 Glft Ald 5.970 5.970 5,825 5,825 Cash and bank balances 2024 2023 General Account Business Reserve Account 28.885 45.335 74,220 39,839 44,687 84,526 Amounts owed 2024 2023 Accountancy fee PAYÉ due 900 1,269 2,169 900 900 Approved on behalf of the trustees on 21 Ottober 2025 and slgned on thelr behalf by Ak,. (a, Harry Mccro Adrlan Rea Trustee Trustee
MAGHERAFELT REFORMED BAPTIST CHURCH NOTES TO THE ACCOUNTS 310e¢ember 2024 Accountlng policies BASIS OF FINANCIAL STATEMENTS A5 the total income of the tharity is less than £250.000 the con8re8ation have elected in accordance with thè provlslons In The Charitles Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts ors a receipts and payments basis. FUND ACCOUNTING Endowment funds are funds. the capttal of which must be retained either permanently or at the charivs discretlon,. the income derlved from the endowment Is to be used either as restrScted or unrestrlcted Income funds dependlng upon the purpose for which the endowment was established in the first place. Restricted funds comprlse {a} income from endowments whlch Is to be expended only on the restricted purposes intended by the donor and Ibl revenue donations or grants for a speclflc congregational actlvlty Intended by the donor. Where these funds have unspent balances, Interest on their pooled Investment is apportloned to the indlvldual funds on an average ba51S. Unrestrirted funds are income funds whlch are to be spent on the tharivs general purposes. Designated fvnds are general funds set aside by the charity for use In the future. DONATIONS AND LEGACIES Unrèstrfcted Funds Restrlcted Funds Total Funds 2024 Total Funds 2023 Recorded glving Loose collections Donatlons and 8ifts Glft Aid 30,166 1.034 30,166 1,034 27.963 973 5.669 36,869 5,669 36,869 6.283 35,219 INVESTMENTS Unrestrkted Funds Restrlcted Funds T¢>tal Funds 2024 Totsl Funcls 2023 Bank Interest received 648 648 534 534 648
MAGHERAFEIT REFORMED BAPTIST CHURCH NOTES TO THE ACCOUNTS (Cont'd) CHARITABLE ACTIVITES Unrestrirted Funds Restrlcted Funds Total Funds 2024 Total Funds 2023 Mlnlstry and support staff cost5 Congregatlonal runnln8 expenses Donations to Missions and charltles Governance costs 27,790 19,133 27,790 19,133 24.540 40,993 200 900 900 900 47023 47,823 66,633 FUND BALANCES Unrestrlcted Funds 2024 2023 General fund 91,541 91,541 101,847 101,847 Restrlrted Funds 2024 2023 Restrlcted funds Reconclll3tlon of movement of funds Opening balance In¢omo Expendtture Transfer Closlng balance Unrestrlcted Funds General Fund 101,847 lo147 37,517 37.517 147,823) 147.8231 91,541 91,541 Restrlcted Funds Restricted Fund Total 101847 37,517 {47,823) 91,541