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
lo1￿47
37,517
37.517
147,823)
147.8231
91,541
91,541
Restrlcted Funds
Restricted Fund
Total
101847
37,517
{47,823)
91,541