Magherafelt Free Presbyterian Church
Statement of Financial Activities
For the year ended 31 December 2024
Unrestricted
funds
Restricted
funds
Total
2024
Total
2023
Note
Income from:
Donations and legacies
Charitable activitie5
Investment income
Other income
Total income
283,421
3.970
705
143,940
1,120
1.722
427.361
5,090
2,427
418,312
13,951
1,162
1,040
434,465
288.096
146.782
434,878
Expenditure on:
Raising f unds
Charitable attivities
Other costs
Total expenditure
234,029
39,988
274.017
6,973
132.427
139,400
241,002
172,415
413.417
246,565
188,017
434,582
Net income/(expenditure) before transfers
14.079
7,382
21,461
11171
Transfers between funds
{37,507)
37,507
Net incomel(expenditure) for the year
(23.428)
44.889
21,461
1117)
Fund balances at 01 January 2024
271,444
89,556
361,000
361,117
Fund balances at 31 December 2024
248.016
134,445
382,461
361,000

Magherafelt Free Presbyterian Church
Statement of Assets and Liabilities
For the year ended 31 December 2024
Unrestricted
Funds
Restricted
Funds
Total Funds
2024
Total Funds
2023
Funds Reconciliation
Bank and Cash at start of year
Net movement in funds
Bank and C35h at end of year
271,444
123,4281
248.016
89.556
44,889
134,445
361,000
21.461
382,461
361,117
11171
361,000
Bank & Cash Balances
Bank Deposit Accounts
Bank Credit Card
Bank Current Account
Cash in Hand
172,688
{3571
75,685
80.766
253,454
13571
129.364
172.688
1231)
188,543
53.679
382,461
361,000
Other Assets
Fixed Assets- Note 7
- Church Premises

Magherafelt Free Presbyterian Church
Notes to the financial statements (continued)
For the year ended 31 December 2024
l Accouting Policies
Basis of Financial Statements
As the total icome af the congregation is between £250,000 and £500,(K)O in accordance with the
provisions in The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 to prepare
accounts on an accrua15 basis and subject to independent examination by an examiner who 15 a
member of The Institute of Chartered Accountants in Ireland.
Donations and legacies
Unrestrirted
Funds
Restricted
Funds
Total
2024
Total
2023
Donations and gifts
Gift Aid on donations and gifts
Legacies and bequest5
248,277
35,144
143.940
392.217
35,144
384,251
34,061
283,421
143,940
427.361
418,312
Charitable activitie5
Unrestrlcted
Funds
Restricted
Fund5
Total
2024
Total
2023
Income from conferences & events
Income from books, magazines, etc
3,880
90
1,120
5,000
90
12,031
1,920
3,970
1.120
5.090
13,951
Investment income
Unrestrirted
Funds
Restrirted
Funds
Total
2024
Total
2023
Bank interest receivable
705
1.722
2,427
1,162
705
1,722
2.427
1,162

Magherafelt Free Presbyterian Church
Notes to the financlal statements (continued)
For the year ended 31 December 2024
Unrestrirted
Funds
Restricted
Funds
Cost of charitsble artivities
2024
2023
Salarie5 and pensions
Ministry expenses
Facilities expenses
Transport expense5
Media and advertising
Other expenses
62.989
40.436
81,240
21,674
6,320
21.370
62,989
47,409
81.240
21,674
6,320
21,370
61,197
40,689
83,569
19.685
11,543
29,882
6.973
234.029
6.973
241.002
246,565
Unrestrirted
Funds
Restrirted
Funds
Other expenditure
2024
2023
Grants and donations
Bank fees and charges
Independent examiner's remuneration
36,737
382
2,869
131.710
717
168,447
1,099
2,869
184,501
878
2,638
39,988
132,427
172,415
188,017
Tan8lble fixed assets
The congregation owns the Church premises. halls and lands including a graveyard and carparking
situated at Mullaghboy Hill Road, Magherafelt, and the associated fixtures. fittings, pland and
machinery. These have an insurance value of £10.092,197.
Fund Balances
Balance at
start
Balance at
end
Fund
Receipts
Payments
Transfers
Unrestrirted Funds
No l Account
271.444
288.096
274.017
137,5071
248,016
Restrirted Funds
Missionary Account
Sunday School Account
Youth Fellowship Account
Building Fund / No 4Acc
Women's Fellowship Acc
Men's Fellowship Acc
Senior Cit12en Account
Total Restrfcted Funds
7,172
655
999
79.384
409
637
300
89.556
134.527
1,545
5,523
1,722
2,517
131,085
1.295
3.519
21
2,402
3,000
13.614
905
3,003
116,229
524
35,144
16371
948
146.782
1,078
139,400
170
134,445
37,507
Total
361.000
434.878
413,417
382,461