4
LIMAVADY REFORMED PRESBYTERIAN CHURCH
Statement of Financial Activity (Receipts and Payment Account) Year ended 31 December 2024
| Note Receipts Donations and legacies 2 Charitable activities 3 Investment Income 4 Payments Cost of fundraising 5 Cost of charitable activities 6 Donations to Missions etc. Governance costs Administration costs Asset and investment purchase Purchase of equipment Total payments Net receipts/(payments) Transfers to/(from) funds Surplus/(deficit) for the year Reconciliation 31/12/2024 Cash at bank & in hand 31/12/2023 Surplus/(deficit) for the year Cash at bank & in hand 31/12/2024 |
Unrestricted Restricted Total Funds Funds 2024 £ £ £ 82,242 11,217 93,459 795 0 795 1,342 0 1,342 84,379 11,217 95,596 0 0 0 61,393 14,367 75,760 23,800 9,420 33,220 0 0 0 0 0 0 1,032 0 1,032 86,225 23,787 110,012 (1,846) (12,570) (14,416) (13,015) 13,015 0 (14,861) 445 (14,416) 109,293 16,989 126,282 (14,861) 445 (14,416) 94,432 17,434 111,866 |
Total 2023 £ 88,570 332 688 |
|---|---|---|
| 89,590 | ||
| 147 43,932 42,710 0 1,824 0 |
||
| 88,613 | ||
| 977 | ||
| 0 | ||
| 977 125,305 977 |
||
| 126,282 |
5
LIMAVADY REFORMED PRESBYTERIAN CHURCH
Statement of Assets and Liabilities Year ended 31 December 2024
| Note Funds Reconciliation Cash at bank & in hand 31/12/2023 Surplus/(deficit) for the year Cash at bank & in hand 31/12/2024 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts Other Assets Fixed Assets 7 Investments Liabilities (Unrestricted Fund) Accountancy PAYE |
Unrestricted Restricted Funds Funds £ £ 109,293 16,989 (14,861) 445 |
Total Total 2024 2023 £ £ 126,282 125,305 (14,416) 977 111,866 126,282 44,901 43,379 66,965 82,903 111,866 126,282 804 761 2,520 2,160 628 0 3,148 2,160 |
|---|---|---|
| 94,432 17,434 |
||
Approved by the trustees on 23 October 2025 and signed on their behalf by:
6
LIMAVADY REFORMED PRESBYTERIAN CHURCH Notes to the Accounts Year ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of Financial Statements
As the total income of the congregation is less than £250,000 the congregation has 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 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 general purposes. Designated funds are general funds set aside by the congregation for use in the future.
| 2. Donations and Legacies Freewill Offering Loose collections Special collections Gift Aid Legacies & bequests 3. Receipts from Charitable Activities Friendship group Church history book sales General income 4. Investment Income Bank interest Franked Investment income 5. Cost of Fundraising FWO envelopes |
Unrestricted Restricted Total Funds Funds 2024 £ £ £ 68,011 0 68,011 1,902 0 1,902 0 10,444 10,444 12,329 773 13,102 0 0 0 82,242 11,217 93,459 0 0 0 24 0 24 771 0 771 795 0 795 1,294 0 1,294 48 0 48 1,342 0 1,342 0 0 0 0 0 0 |
Total 2023 £ 66,113 1,597 6,648 13,912 300 |
|---|---|---|
| 88,570 170 162 0 |
||
| 332 643 45 |
||
| 688 147 |
||
| 147 |
7
LIMAVADY REFORMED PRESBYTERIAN CHURCH Notes to the Accounts Year ended 31 December 2024
| 6. Cost of Charitable Activities Synodical target Minister salary and expenses Church & Manse running expenses Youth work Synod expenses Friendship group Women's fellowship |
Unrestricted Restricted Total Funds Funds 2024 £ £ £ 0 8,280 8,280 5,179 0 5,179 55,514 0 55,514 700 0 700 0 6,087 6,087 0 0 0 0 0 0 61,393 14,367 75,760 |
Total 2023 £ 13,280 0 29,143 221 0 788 500 |
|---|---|---|
| 43,932 |
7. Fixed Assets
The congregation owns the Church premises and Hall at Greystone Road, Drumrane, Limavady, the manse at Rathmore Road, Limavady for the minister and the associated fixtures, fittings and equipment. These have an insurance value of £2,666,454.
8. Fund Balances
| Fund Unrestricted Funds General Fund Restricted Funds Building Fund Synodical Missions Synod Total |
Balance at Receipts Payments Transfers 1/1/2024 £ £ £ £ 109,293 84,379 (86,225) (13,015) 16,989 445 0 0 0 1,344 (8,280) 6,936 0 3,574 (9,420) 5,846 0 5,854 (6,087) 233 16,989 11,217 (23,787) 13,015 126,282 95,596 (110,012) 0 |
Balance at 31/12/2024 £ |
|---|---|---|
| 94,432 17,434 0 0 0 |
||
| 17,434 | ||
| 111,866 |