First Garvagh Congregation of the Presbyterian Church in Ireland
Latest income
£405k
Latest spending
—
Accounts read
FY2025
Financial health, per FY2025 accounts
The accounts state that total reserves amounted to £2,708,285, with unrestricted reserves of £178,819 held against a policy target of 12 months' normal expenditure. The Trustees consider the financial position robust, noting that activities are dependent on ongoing member contributions and that sufficient resources exist to meet current commitments.
What the accounts disclose
Going concern: doubt noted
“The Trustees are of the opinion that the congregation has sufficient resources at the date of approval of these financial statements to meet commitments which will arise in the year from the date of signing this report and subject to the continuing support from members to fund on an ongoing basis the congregation’s current activities and other financial commitments”
Per FY2025 accounts as filed with CCNI.
Payments to trustees: Rev. M. Donald received remuneration of £29,058 and pension contributions of £5,085.
“One of the Trustees, Rev. M Donald, the minister of the congregation, received remuneration of £29,058 and expenses of £5,418 for acting in that capacity. Pension contributions of £5,085 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009).” — page 24
Per FY2025 accounts as filed with CCNI.
Related-party transaction: Remuneration paid to Trustee/Minister
“One of the Trustees, Rev. M Donald, the minister of the congregation, received remuneration of £29,058 and expenses of £5,418 for acting in that capacity. Pension contributions of £5,085 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009). The remuneration for the minister is independently determined by the Presbyterian Church in Ireland. None of the other trustees received any remuneration during the year in connection with their duties.” — page 24
Per FY2025 accounts as filed with CCNI.
Related-party transaction: Contributions to General Assembly of the Presbyterian Church in Ireland
“One of the Trustees, Rev. M Donald, the minister of the congregation, received remuneration of £29,058 and expenses of £5,418 for acting in that capacity. Pension contributions of £5,085 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009). The remuneration for the minister is independently determined by the Presbyterian Church in Ireland. None of the other trustees received any remuneration during the year in connection with their duties.” — page 24
Per FY2025 accounts as filed with CCNI.
Related-party transaction: Contributions to Presbytery Assessments
“One of the Trustees, Rev. M Donald, the minister of the congregation, received remuneration of £29,058 and expenses of £5,418 for acting in that capacity. Pension contributions of £5,085 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009). The remuneration for the minister is independently determined by the Presbyterian Church in Ireland. None of the other trustees received any remuneration during the year in connection with their duties.” — page 24
Per FY2025 accounts as filed with CCNI.
Employees paid over £60,000: 0
Per FY2025 accounts as filed with CCNI.
Reserves policy: 12 month's normal expenditure from unrestricted funds (held: £179k)
“It is the policy of the Trustees to hold at least 12 month’s normal expenditure from unrestricted funds.”
Per FY2025 accounts as filed with CCNI.
Largest income source: Donations and legacies (60% of income)
“Donations and legacies 2 112,402 131,223 0 243,625 649,403” — page 6
Per FY2025 accounts as filed with CCNI.
Independent examiner: John McMullan ACMA CGMA
Per FY2025 accounts as filed with CCNI.