The General Presbytery of the
Free Presbyterian Church of Ulster
Financial Statements
Year ended 31 December 2024
The Charity Commission for Northern Ireland Number: 109137
HMRC Charities Reference Number: XN7319Q

The General Presbytery of the Free Presbyterian Church of Ulster
statement of Financial Activities
For the year ended 31 December 2024
Unrestricted
funds
Restricted
funds
Total
Total
2023
2024
Note
Income frorn:
Donations and legacies
Charitable activitie5
Investment income
Other income
Total income
10,330
22,501
4,412
240,492
277,735
495,102
107,365
41,298
458
644,223
505,432
129,866
45,710
240,950
921,958
61,098
92,988
14,381
233,267
401,734
Expenditure on:
Charitable activities
Other costs
Total expenditure
91,197
48,312
139,509
252,918
14,984
267,902
344,115
63,296
407,411
328,698
107,386
436,084
Net Incomellexpenditurel before transfers
138,226
376,321
514,547
134,3501
Transfers between funds
1103,831}
103,831
Net incomellexpendlturel for the year
34,395
480,152
514,547
{34,3501
Fund balances at ol January 2024
345,135
4,171,301
4,516,436
4,550.786
Fund balance5 at 31 Decemb@r 2024
li
379,530
4.651,453
5.030,983
4,516,436
li

The General Presbytery of the Free Presbyterian Church of Ulster
Statement of Assets and Liabilities
as at 31 December 2024
2024
2023
Note
Fixed Assets
Tangible Fixed Assets
2,644,733
2,839,733
Current Assets
Debtors
Bank and cash balances
66,369
2,330,931
2,397,300
66,500
1,625,918
1.692,418
Creditor5: due within one year
Accruals and deferred income
111,0501
111,0501
115,7151
115,7151
Net Current As5et5
2,386.250
1,676.703
Net Assets
5,030,983
4,516,436
Income Funds
Unrestricted Funds
Restricted Funds
General
Income
Capital
379,530
345,135
2,006,720
2,644,733
1,331,568
2,839,733
4,651,453
4,171,301
Retained Reserves
io
5,030,983
4,516,436
The financial statements were approved by the Tru5tee5 on IS-. QL-
behalf by:
i>and signed on their
Trustee
Truste
12

The General Presbytery of the Free Presbyterian Church of Ulster
Staternent of Cash Flows
For the year ended 31 December 2024
Z024
2023
Note
Net incomellexpenditurel for the year
514.547
134,3501
Adjustments to reconcile net income / (expenditure) to net cash
flows from operating activitie5
Loss on property disposal
Net finance costs
11 ncreasel / decrease in debtors
Increase / Idecreasel in cred itors
52,744
145,7101
131
14,6651
114,381)
25,000
7,155
Net cash inflow / loutflowl from operating activities
517,047
116,5761
Investing activities
Interest received
Proceeds from property disposals
45,710
142,256
14,381
Net cash inflow from investing activlties
187,966
14.381
Net increase l (decrease) in cash and cash equivalents
705.013
12,1951
Cash and cash equivalents at 01 January 2024
1,625.918
1,628,113
Cash and cash equivalents at 31 December 2024
2,330.931
1.625,918
13

The General Presbytery of the Free Presbyterian Church of Ulster
Notes to the financial statements
For the year ended 31 December 2024
Principal accounting policies
The principal accounting policies adopted, judgement5 and key sources of Èstimation in the preparation
of the financial statements are as follows:
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Charitie5 SORP IFRS1021
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities
preparing their accounts in accof dance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 (second edition - October 2019).
The General Presbytery of the Free Presbyterian Church of Ulster is 3 registered charity INIC109137) and
meets the definition of a public benef it entity under FRS102. Assets and liabilities are initially recognised
at historic cost or transaction value unless otherwise stated in the relevant accounting policy notes.
1.2 Income recognition
All incom ing resources are included in the Statement of Financial Activitie5 when the charity 15 leEally
entitled to the income after any performance conditions have been met, the amount can be measured
relia bly and it is probable that the income will be received.
1.3 Donations
Donations are accounted for gross when received. Fixed asset gifts in kind are recogni5ed when
receivable and are included at f3irvalue.
1.4 Legacies
Legacies are accounted for when probate has been completed, the amount of the legacy can be reliably
qua ntified a nd the conditions of the legacy are within the control of the Presbytery.
1.5 Investment income
I nvestment income is included in the financial statements in the yea r in which it is receivable.
1.6 Expenditure recognition
All expenditure is accounted for on an accruals basis. Expenditure is recognised where there is a legal
or constructive obligation to make payments to third parties, it is probable that settlement will be
required and the amount of the obligation can be measured reliably.
1.7 Fixed assets
The tangible fixed a55ets are initially recorded at cost, or for donated assets, at a reasonable estimate of
their value on receipt.
The buildings have been recorded at the insurance value as no reliable information is available for the
C05t of these buildings.
14

The General Presbytery of the Free Presbyterian Church of Ulster
Notes to the financial statements (continued)
For the year ended 31 December 2024
1.8 Funds
U nrestricted funds a re available for use at the discretion of the trustees in furtherance of the general
objectives of the cha rity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the charity for specific purposes. The cost of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted fund
is set out in the notes to the financial statements,
1.9 Preparation of accounts on a going concern basis
The General Presbytery of the Free Presbyterian Church of Ulster has prepared the financial statements
on a going concern basis. The balance sheet is strong with continued support from donors and member
conEregations.
15

The General Presbytery of the Free Presbyterian Church of Ulster
Notes to the financial statements (continuedl
For the year ended 31 December 2024
Donations and legacies
Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
Donations and gifts
10,330
49S,102
505,432
61,098
10,330
495,102
505,432
61,098
Charitable activitie5
Unrestrirted
Fund5
Re5trirted
Funds
Total
2024
Total
2023
Income from conference5 & events
Income from books, magazines, etc
22,501
70,417
36.948
92,918
36.948
51,477
41,511
22,501
107,365
129.866
92,988
Investment Income
Unrestricted
Fund5
Restricted
Fund5
Total
2024
Total
2023
Bank interesi receivable
4,412
41.298
45.710
14,381
4,412
41,298
45,710
14,381
other income
Unrestricted
Fund5
Restrirted
Funds
Total
2024
Total
2023
Funds from related charitie5
Other income
235,350
5,142
235,350
5,600
232,961
306
458
240,492
458
240,950
233,267
16

The General Presbytery of the Free Presbyterian Church of Ulster
Notes to the financial statements (continued)
For the year ended 31 December 2024
Cost of charitable actlvitles
Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
Salaries and pensions
Oirect activity expenses
Facilities expenses
Travelling expenses
Media and advertising
Insurance
Other expenses
10,747
130,266
93,217
1,230
16,031
383
10.747
182,475
93,217
14,403
16,031
26.198
1,044
11.213
160,361
75,485
22,273
16.966
38,482
3,918
52,209
13,173
25,815
1,044
91,197
252,918
344,115
328,698
Other expenditure
Unrestrirted
Funds
Restricted
Fund5
Total
Total
2023
2024
Grants and donations
Bank fees and charge5
Independent auditor's remuneration
Legal and professional fees
26,847
134
9,666
11,665
10,865
624
37,712
758
88,137
815
6,330
12,104
9,666
15,160
3.495
48,312
14,984
63,296
107,386
Tangible fixed assets
Buildings
Total
Cost
As atol January 2024
Additions
Disposa15
2,839,733
2,839.733
1195,0001
1195.0001
As at 31 December 2024
2,644,733
2,644,733
Depreciation
A5 at 01 January 2024
Charge for the year
As at 310ecember 2024
Net Book Value
As at 310ecember 2024
2,644,733
2,644.733
As at 31 December 2023
2,839,733
2,839,733
17

The General Presbytery of the Free Presbyterian Church of U15ter
Notes to the financial statements Icontinuedl
For the year ended 31 December 2024
Debtors
2024
2023
Loans to Churches
Prepayment5 and accrued income
60,000
6,369
66,500
66,369
66,500
10 Reserves
Unrestricted
fund5
Restricted
funds
Total
2024
Total
2023
Reserves b/fwd
345,135
4,171.301
4,516,436
4,550.786
Net movement in funds
34,395
480.152
514.547
134,3501
Reserves c/fwd
379,530
4,651,453
5,030,983
4,516,436
11 Fund balances
Openlng
balance
Incoming
resources
Resources
expended
Closing
balance
Transfers
Unrestricted funds
General fund
345,135
277,735
1139,5091
1103,8311
379,530
34S,135
277,73S
1139.S091
1103,8311
379,530
Restrirted fund5
Education Board
Loan Fund
Ministers Retirement Fund
Sunday School Account
Hymn 8o¢k Fund
Youth Council
Government and Morals
Pri50n Chaplains
Congress Fund
Consider Christ
FPCNA- Current Magazine
Publications and Media
allygowan Graveyard
Student Fellowship
24,162
398,613
3,589,365
18,781
31,180
9,039
232
4,311
6,999
36,620
10,164
21,981
Ig,184
670
30,409
426,448
27,837
441
903
62,341
3,702
11,507
13,3191
16,5351
1131,3641
51,252
818,526
3,585,838
19,222
32,062
18,469
3,903
4,313
6,999
47,124
11,787
19.415
32,304
239
loo,000
1211
156,7421
1311
111,5051
3,831
43,293
4,220
13,128
19,933
61
132,789)
12,5971
115,6941
16,813}
14921
4,171,301
644,223
1267,9021
103,831
4,651,453
18

The General Presbytery of the Free Presbyterian Church of Ulster
Notes to the financial statements {continuedl
For the year ended 31 December 2024
12 Analy515 of net a55et5 between funds
Unrestricted
funds
Restricted
funds
Total
2024
Total
2023
Fixed assets
Current assets
Current liabilities
2.644,733
2,010.030
13,3101
2,644,733
2,397,300
111,0501
2,839,733
1,692,418
115,7151
387,270
17,7401
Total funds
379,530
4,651,453
5,030,983
4.516,436
19