Ballenon Refonned Presbyterian Church STATEMENT OF FINANCIAL ACTIVITIES for the financial year ended 31 December 2024 Unrestrlcted Funds 2024 Total Unrestricted Funds Funds 2024 2023 Total Funds 2023 Notes Income Donations and legacies Charitable activities Grants from governments and other co-funders Investments Other income 2,608 2,608 2,633 2,633 35,470 363 8,453 35.470 363 8.453 32,561 349 5,816 32,561 349 5.816 Total In¢oma 46,894 46,894 41,359 41,359 Exp•ndltur8 Charitable activities Olher expenditure 36.567 6.730 36.567 6.730 29,237 11,178 29,237 11,178 Total Expendlturo 43,297 43,297 40.415 40,415 Net Incomel{oXPondlturel 3,597 3.597 944 944 Transfers be88n funds Net movgrnent In funds for th8 flnanclal year 3,597 3,597 944 R8conclllatlon of fvnd$: Total funds beginning of the year 10 671,615 671,615 670,671 670,671 Total fund$ at the end of the year 675.212 675,212 671,615 671,615 The Statement of Financial Activities includes all gains and losses récognlsed in thè financial year. All income and expenditure relat8 lo Gontlnuing activitie5. The notes on pages 9 to 13 forrn part of the financial slal8ments
Ballenon Reformed Presbyterian Church BALANCE SHEET as at 31 December 2024 2024 2023 Notes Flxed Assets Tangible assets 615.000 615,000 Current Assets Cash al bank and in hand 60,212 56,615 Net Currgnt Assets 60.212 56,615 Total Assets1g$$ Current Llabllltlos 675,212 671,615 Funds Designated funds {Unrestrict8dl General fund (unr8stri¢ted) 1,116 674.096 4,690 666.925 Total funds 10 675,212 671.615 Approvad by the Board of Truste05 and authorlsed for158Uo on l Ék behalf by toLIo2L- and slgn•d on Its Andrew Horron Trustee es Minlsh ust Rev Robèrt Robb Trusteg The notes on pBges 9 to 13 form part of the financia5 slatemgnts
Ballenon Reformed Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 310ecember 2024 GENERAL INFORMATION Ballenon Reformed Pr8sbyterian Church is a charity registered in Northern Ireland. The registered office of the charity is 62 Corrniare Road, Poyntzpass, Newry. Co Down, BT35 6RY. Northern Ireland. The financial stat8mgnts have been presented in Pound (£} which is also the functional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Tha following accounting policies have been applied consistently in dealing with ilems which are considered material in relation to the ch8rity's financial slalemants. Basls of proparatlon The financial slalements have b68n prepared on the going concern basis under the historical cost convention, modified lo include ¢8rtain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Praclic8 {SORPI "Accounting and Reporting by Charities préparing theSr accounts In accordance with th8 Financlal R&porting Standard applicabl8 In Ihe UK and R8publSc of Ireland FRS 102" As p8rmitted by the Companies Act 2006, the charity has varied the standard formals in that act for the Statement of Financial Activities and th8 Balanc8 Sheet. Departures from the standard formats are to comply with the requirements of the charities SORP and are in complianoe with section 4.7, 10.6 and 15.2 of that SORP. Slalemant of compllanco The flnanclal statements of the charfty for the flnanclal year end8d 31 December 2017 have been prepared on the going concem basis and in accordance with the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities preparing their accounts in a¢cordanc8 wlth Ihe Financial Reportlng Standard applicable in the UK and Republic of Ireland FRS 102" Fund accounting The following are the categories of funds malnt8ined'. Restrlcted funds Restricted funds represent income ceived which can only be usèd for particular purposés, as specified by the donors. Such purposes ar8 wlthln the overall obj8Ctlves of the charfly. Unrestrlclgd funds Unreslricled funds consist of General and Designated funds. General funds represent amounts whlch are expendable at the dlscrellon of the board, In furtherance of th8 objectives of the charity. Designated funds comprise unrestricted funds that the board has, al ils dlscretion, set asid8 for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund. In¢om• Voluntary income or capital is included in the Statement of Financial Activities when the charity is legally entitled to it, ils financial value can be quantified with reasonabla certainly and there is reasonable certainty of its ultimat8 receipt. Enlillement to legacles is considered eslabllshed when the charity has been notified of a distribution to be made by the executorg. Incom8 received in advance of due performance under a contract is accounted for as deferred income until earned. Grants for activities are recognised as income when the relaled conditions for legal entitlement have been met. All other incorne is accounted for on an accruals basis. Expendtture All resources expended are accounted for on an accruals basis. Charitable activities include costs of services and grants. support costs and depreclallon on related assets. Costs of generating funds similarly include fundraising activities. Non-staff costs not attributed to one category of activity are allocated or apportioned pro-rata lo the stafFing of the relevant service. Finance, HR. IT and administrative staff costs are directly attributable to individual activit16$ by objective. Govemance costs am those associated with constitutional and statutory requirements.
continued Ballenon Reformed Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS for th8 financial year ended 31 December 2024 Tangible flxed assets and depreclatlon Tangible fixed assets are stated at cost or at valuation. less accurnulated depreciation. The charge to depr8ciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value. over their expected useful lives as follows.. Land and buildings freehold 40/0 Straight line Cash at bank and In hand Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice ol withdrawal. Taxatlon No current or deferred taxation arises as th8 charfty has been grant8d Charitable 8xemption. Irrecov8rable valued added tsx is expensed as Incurred. INCOME DONATIONS AND LEGACIES Unrèstrlcted Restrlcted Funds Funds 2024 2023 Donations and legacies 2,608 2,608 2,633 CHARITABLE ACTIVITIES Unr&strlct8d R¢$trlct8d Funds Funds 2024 2023 Granls from gov•mments and othor ¢o-fundord: Income from charitable actlvltles 35,470 35,470 32,561 INVESTMENTS Unrastrlctod Restrlcted Funds Funds 2024 2023 Investments 363 363 349 OTHER INCOME Unrestrictod RestrSctèd Funds Funds 2024 2023 Othgr income 8,453 8.453 5,816 EXPENDITURE CHARITABLE ACTIVITIES Dlrect Costs Other Costs Support Costs 2024 2023 Expenditure on charitable activites Governance Costs (Note 4.31 14,264 1,452 728 20,123 14.992 21,575 10,741 18.496 15.716 20,851 36.567 29,237 OTHER EXPENDITURE Dlrect Costs Other Costs Support Costs 2024 2023 Other expendlture 6,730 6,730 11,178 10
continued Ballenon Reformed Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 De¢&mber 2024 GOVERNANCE COSTS Dlrect Costs other Costs Support Costs 2024 2023 Charltable activities- govemance costs 1.452 20,123 21,575 18,496 SUPPORT COSTS Charllabl• Other Governanco Adivltles Expenditure Costs 2024 2023 Heal & light A¢countancy Insurance Salaries, wages and related c08t8 Repairs & maintenance Rates Pdnllng & stationery 2,121 780 2.121 780 1,151 780 1,260 15,566 9.789 913 539 16,267 16,267 6,730 955 728 6,730 955 728 728 6,730 20.123 27,581 29,998 ANALYSIS OF SUPPORT COSTS 2024 2023 H8al & Ilght Accountancy Insurance Salaries, wages and related costs Repairs & maintenanc8 Rates Printing & stationery Bank fe8s & interest 2,121 780 1,151 780 1,260 15,566 9,789 913 539 459 16.267 6,730 955 728 27,581 30,457 INVESTMENT AND OTHER INCOME 2024 2023 Insurance claims receivable Othér Interest 1,449 1.090 1,054 2,539 1,054 EMPLOYEES AND REMUNERATION The staff costs comprise.. 2024 2023 Wages and salaries 16.170 15,444 11
continued Ballenon Reformed Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 Oecember 2024 TANGIBLE FIXED ASSETS Land and buildings freehold Total Cogt At 31 December 2024 615,000 615,000 Net book valuo At 31 December 2024 615,000 615,000 At 31 Decemb8r 2023 615,000 615,000 RESERVES 2024 2023 At the beginning of the year Surplus for the financial year 671,615 3,597 670,671 At the 8nd of the year 675,212 671,615 10. FUNDS 10.1 RECQNCILIATION OF MOVEMENT IN FUNDS Unrostrlcted Funds Totsl Funds At 1 January 2023 Movement during the financial year 670,671 944 670,671 944 Al 31 December 2023 Movement during the financlal year 671,615 3,597 671,615 3,597 Al 31 December 2024 675,212 675.212 10.2 ANALYSIS OF MOVEMENTS ON FUNDS Balanco 1 January 2024 Income Exptrndlture Transfers Balance betwgon 31 D&comber funds 2024 Unrestrlcted funds Manse Account Fund Buildlng Fund Account Women's Fellowship Ballenon & Ballylane Church Outing General Fund Ballenon Sabbath School Account Ballenon RPC Savings Account Unrestricted Funds 3,109 4,526 2,105 199) 13,1091 3,746 4,215 104 371 4,057 2,010 470 40,492 1,324 10,109 615,000 38,568 124 239 31,604 156 47,456 1,292 10,348 615.000 671,615 44,998 141,401) 675,212 Total funds 671.615 44.998 41,401 675,212 12
continued Ballenon Reformed Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS for th8 financial year ended 310ecember 2024 10.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - charity use Current assets Curront Ilabiliti•$ Total Unrestricted designated funds Unrestricted general funds 1,475 71.861 (13,124) {11.6491 686,861 615,000 615,000 73,336 (13.124) 675,212 615,000 73.336 {13,124) 675,212 11. POST4ALANCE SHEET EVENTS Thère have been no significant &vènls affecting the Charfty slnce th8 financial y&ar-end. 13