MAGHERAFELT INDEPENDENT METHODIST CHURCH, FELLOWSHIP OF INDEPENDENT METHODIST CHURCHES STATEMENT OF FINANCIAL ACTIVITY for the period ended 31 March 2025 Note Unrestricted Restrirted Funds Funds Total 2025 Total 2023 Receipts Donations and legacies Charitable activities Other tradi ng activities Investment Income Other 114039 114039 906 103880 1917 906 6464 31 6464 31 321 Total Receipts 120534 906 121440 106162 Payments Raising funds Charita ble activitie5 Investment cost5 Other 418 97374 418 100970 3596 88556 Total Payments 97792 3596 101388 88556 Net receipts / Ipaymentsl Transfers between funds 22742 (35001 {2690) 35(M) 20052 17606 Net movement in funds Unauthorised transactions Funds brought forward 19242 160895 94885 810 20052 160895 96332 17606 {1552801 234006 1447 Funds carried forward 12 275022 2257 277279 96332
MAGHERAFELT INDEPENDENT METHODIST CHURCH. FELLOWSHIP OF INDEPENDENT METHODisr CHURCHES STATEMENT OF ASSEfs AND LIABILITIES As at 31 March 2025 Unrestricted Funds Restricted Total Funds Total Funds Funds Z025 2023 Funds Reconciliation Bank and Cash at start of year Unauthorised transactions Net movement in funds 94885 160895 19242 1447 96332 160895 20051 234006 {1552801 17606 809 Bank and Cash at end of year 275022 2256 277278 96332 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts Cash in Hand 108996 165926 l(MJ 108996 168182 104272 179401 2256 277278 96332 Other Assets Fixed Assets- Note 10 Church Premises Fixtures, Fittings & Equipment Vehicles Investments- Note 11 Gift Aid receivable on donations Excess of Unauthorised withdrawals (Church monies all repaid) 418088 418088 160895 418088 578983
MAGHERAFELT INDEPENDENT METHODIST CHURCH. FELLOWSHIP OF INDEPENDENT METHODIST CHURCHES NOTES TO THE ACCOUNTS 31 March 2025 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. DONATIONS AND LEGACIES Unrestricted Funds Restricted Funds Total 2025 Total 2023 Recorded giving: Other giving and collections Donations and gifts Gift Aid Legacie5 and bequest 61024 24791 13327 14140 757 61024 24791 13327 14140 757 51065 19113 5944 27758 114039 114039 103880
MAGHERAFELT INDEPENDENT METHODIST CHURCH. FELLOWSHIP OF INDEPENDENT METHODIST CHURCHES NOTES TO THE ACCOUNTS 31 March 2025 CHARITABLE AcfiviTIES Unrestricted Funds Restricted Funds Total 2025 Total 2023 Income from charitable activities Fees from weddings and funerals Fundraising events Membership fees Grants 906 906 1317 6CrfJ 906 906 1917 4. OTHER TRADING ACTIVITIES Unrestricted Funds Restrirted Funds Total 2025 Total 2023 Letting of premises Trading income INVESTMENT INCOME Unrestricted Funds Restricted Funds Total 2025 Total 2023 Deposit interest Bank Interest Rents investment properties Other investment income 4684 244 4684 244 217 104 1536 1536 6464 6464 321
MAGHERAFELT INDEPENDENT METHODIST CHURCH, FELLOWSHIP OF INDEPENDENT METHODIST CHURCHES NOTES TO THE ACCOUNTS (cont'd) 31 March 2025 OTHER INCOME Unrestricted Funds Restricted Funds Total 2025 Total 2023 Insurance claims Other income 31 31 44 31 31 RAISING FUNDS Unrestricted Funds Restrfcted Funds Total 2025 Total 2023 FWO envelopes Fundraising events 418 418 418 418 CHARITABLE AcfiviTIES Unrestrirted Funds Restricted Funds Total 2025 Total 2023 Central Fund Contribution Ministry and support staff costs Congregational running expenses Donations to Missions and charities 1200 49198 32814 14162 12QM) 49198 36410 14162 1200 35367 32409 19580 3596 97374 3596 100970 88556
MAGHERAFELT INDEPENDENT METHODIST CHURCH, FELLOWSHIP OF INDEPENDENT METHODIST CHURCHES NOTES TO THE ACCOUNTS (cont'd) 31 March 2024 OTHER EXPENDITURE Unrestricted Funds Restricted Funds Total 2025 Total 2023 Investment properties expenses 10. FIXED ASSETS The congregation owns the Church premises situated at 53 Tobermore Road, Magherafelt, BT45 5EH and the associated fixtures, fittings, plant and machinery. These have a historical cost of £418,088. 11. INVESTMENTS The congregation has the following investments. Amounts are shown at market valuation. 2025 2023 Property Other investments
MAGHERAFELT INDEPENDENT METHODIST CHURCH. FELLOWSHIP OF INDEPENDENT METHODIST CHURCHES NOTESTO THE ACCOUNTS (cont'd) 31 March 2025 12. FUND BALANCES Fund Balance at start Receipts Payment Surplus / (Deficit) Transfer Balance at end Unrestricted Funds No. l Account Unauthorised transactions 255780 (1608951 120534 232925 97792 72030 22742 160895 {3500} 275022 94885 353459 169822 183637 {3500) 275022 Restricted Funds Ladies Fel lowship Youth Fellowship 1201 246 767 39 799 2797 {321 12658) 1169 1088 3500 1447 906 3596 126901 2257 Total 96332 354365 173418 1180947) 277279