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2023-12-31-accounts

THE PARISH OF ST. PETER AND ST. JAMES, BELFAST

Statement of Financial Activities for the year ended 31 December 2023

Notes
INCOMING RESOURCES
Free will offerings
2
Donations and grants
3
Interest and other investment income
4
Rental income - St. James Property
HMRC - Employment allowance
EXPENDITURE
Clergy costs
5
Rectory costs
6
Church costs
7
Parochial hall costs
8
General costs
9
St. James property costs
10
(DEFICIT)/SURPLUS OF INCOME OVER
EXPENDITURE FOR THE YEAR
Accumulated surplus of income over
expenditure carried forward at 1 January 2023
Accumulated surplus of income over
expenditure carried forward at 31 December 2023		 Unrestricted
Funds
£
79,188
19,123
2,795
1,350
5,089		 Designated
Funds
£
0
7,600
0
0
0		 Restricted
Total
Total
Funds
Funds
Funds
2023
2022
£
£
£
0
79,188
77,500
23,782
50,505
28,694
0
2,795
2,376
0
1,350
1,800
0
5,089
4,750
107,545 7,600 23,782
138,927
115,120
58,804
2,718
17,538
1,702
43,516
7,786		 0
6,660
0
0
0
0		 0
58,804
53,890
0
9,378
3,317
2,235
19,773
16,541
0
1,702
2,341
5,484
49,001
52,946
0
7,786
3,152
132,065 6,660 7,719
146,444
132,187
(24,520)
45,300		 940
65,100		 16,063
(7,517)
(17,067)
16,290
126,690
143,757
20,780 66,040 32,352
119,173
126,690

10

THE PARISH OF ST. PETER AND ST. JAMES, BELFAST

Statement of Financial Activities as at 31 December 2023

Statement of Financial Activities
as at 31 December 2023
Notes
Fixed assets
Investments
12
Current assets
Debtors and prepayments
13
Bank balance - Progressive Building Society
Bank balance - Danske Bank - Current account
Bank balance - Danske Bank - Deposit account
Creditors: amounts falling due within one year
Creditors and accrued expenses
14
Net current assets
Total net assets
Financed by:-
CAPITAL FUND
15
FUNDS EMPLOYED
Unrestricted funds
Designated funds
Restricted funds		 2023
2022
£
£
114,636
114,307
6,596
15,096
30,679
30,097
22,008
20,168
73,561
77,731
132,844
143,092
(6,040)
(8,441)
126,804
134,651
241,441
248,958
122,268
122,268
20,780
45,300
66,040
65,100
32,352
16,290
119,173
126,690
241,441
248,958
248,958

The financial statements were approved by the board of trustees on 18 March 2024 and signed on their behalf by:-

Ashlee McCune

Mrs Ashlee T McCune

11

THE PARISH OF ST. PETER AND ST. JAMES, BELFAST

Notes to the Financial Statements

for the year ended 31 December 2023

Accounting policies

The financial statements of The Parish of St. Peter and St. James, Belfast have been prepared in accordance with the Statement or Recommended Practice: Accounting and Reporting by Charities FRS 102.

Incoming resources Incoming resources are accounted for on a receiveable basis.

Investment income

Bank interest is included in the income and expenditure account on a receipts basis.

Resources expended

Charitable expenditure includes all expenditure directly related to the objects of the charity and comprises the following:Costs of raising and generating funds, Activities in furtherance of the charity's objectives,

The costs of activities in furtherance of the charity's objectives represent the cost of goods and servces and ancillary trading costs that have been incurred in charitable activities, Support costs of activities, Support costs of activities for charitable purposes include salary costs, Management and administration of the charity, Management and administration costs represent expenditure incurred in the management of the charity's assets, organisational administration and compliance with charitable and statutory requirements.

Taxation

As a charity, the church benefis from various exemptions from taxation afforded by legislation. It is not therefore liable to tax on any income or gains falling within those exemptions.

Church Buildings

The Church Buildings are deemed to be a Heritage Asset as defined by the Charities SORP (FRS102). These Heritage Assets are not included in the statement of assets and liabilities as information on the cost or valuation is not available and such information cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the parish.

Church Halls

There are no records of the cost of this construction, available and any valuation approach for such a building lacks sufficient reliability. As a result this building is not recognised in the parish statement of assets and liabilities.

Rectory

There are no reliable records of the cost of this construction. As a result this building is not recognised in the parish statement of assets and liabilities.

12

THE PARISH OF ST. PETER AND ST. JAMES, BELFAST

Notes to the Financial Statements

for the year ended 31 December 2023

2 Incoming resources - Free will offerings

2 Incoming resources - Free will offerings
FWO envelopes, standing orders and annual subscriptions
FWO gift aid rebates - Note 20
Other giving - Note 20
Cash/plate collections		 Unrestricted
Funds
£
56,847
18,732
1,660
1,948		 Designated
Funds
£
-
-
-
-		 Restricted
Total
Total
Funds
Funds
Funds
2023
2022
£
£
£
-
56,847
54,707
-
18,732
17,287
-
1,660
2,760
-
1,948
2,746
79,188 0 0
79,188
77,500

3 Incoming resources - Donations and grants

3 Incoming resources - Donations and grants
Baptisms, weddings, funerals
Bequests
Easyfundraising and AmazonSmile
Filming fees*
Gazette - subscriptions and sales
Hall hire - Note 20
St. James' Endowment Fund Grant For Ministry Assistants
St. James' Endowment Fund Grant for Ministry Apprenticeships
and Music Ministry
Advertising Revenue
Belfast City Council Friendship Group Grant
Belfast City Council "Still Active" Grant
TLG Family Fun Grant
Donations - Note 20
Charity collections - Note 20
RCB Covid Grant		 Unrestricted
Funds
£
455
1,000
71
0
242
15,588
0
0
200
0
0
1,568
0
0		 Designated
Funds
£
7,600		 Restricted
Total
Total
Funds
Funds
Funds
2023
2022
£
£
£
455
1,115
1,000
0
71
158
7,600
2,600
242
160
15,588
8,709
4,160
4,160
8,320
15,989
15,989
0
200
290
300
300
1,200
1,152
1,152
0
300
300
300
1,568
2,626
1,881
1,881
1,706
0
1,510
19,123 7,600 23,782
50,505
28,694

13

THE PARISH OF ST. PETER AND ST. JAMES, BELFAST

Notes to the Financial Statements

for the year ended 31 December 2023

4 Incoming resources - Investment income

Charifund - Dividends
Danske Bank - Current account - Interest
Progressive Building Society - Interest
Bond Maturity
Sale of land (NIE) - Interest - Note 11
RCB - General Unit Trust Distributions - Note 11
5 Expenditure - Clergy
Rector's Stipend, locomotory expenses and employers NIC
Less: - CIT - Various stipend bequests
- RCB - Various stipend bequests
Pension fund
Relief clergy		 Unrestricted
Funds
£
1,864
20
582
0
152
177		 Designated
Funds
£
-
-
-
-
-
-		 Restricted
Total
Total
Funds
Funds
Funds
2023
2022
£
£
£
-
1,864
1,809
-
20
83
-
582
224
-
0
3
-
152
26
-
177
231
2,795 0 0
2,795
2,376
Unrestricted
Funds
£
48,707
(336)
(664)
10,848
250		 Designated
Funds
£
-
-
-
-
-		 Restricted
Total
Total
Funds
Funds
Funds
2023
2022
£
£
£
-
48,707
44,837
-
(336)
(371)
-
(664)
(704)
-
10,848
9,883
-
250
245
58,804 0 0
58,804
53,890

6 Expenditure - Rectory

Rates
Ground rent
Insurance and part contents
Repairs
Less:- CIT - Rectory maintenance bequest		 Unrestricted
Funds
£
1,510
0
274
1,038
(103)		 Designated
Funds
£
-
-
-
6,660
-		 Restricted
Total
Total
Funds
Funds
Funds
2023
2022
£
£
£
-
1,510
1,439
-
0
40
-
274
358
0
7,698
1,594
-
(103)
(114)
2,718 6,660 0
9,378
3,317

14

THE PARISH OF ST. PETER AND ST. JAMES, BELFAST

Notes to the Financial Statements

for the year ended 31 December 2023

7 Expenditure - Church

Church repairs - Note 20
Water and sewerage
Insurance - Church and hall
Organist's employment costs
Cover/supplemental organist fees
Organ repairs/maintenance
Less: - CIT Organ maintenance bequest
Sunday school
Choral Bursary
St Paul's Priest-in-charge fee
Less - CIT - Various Bequests for church upkeep
RCB - Various Bequests for church upkeep
8 Expenditure - Parochial Hall
Church hall and contents - Insurance
Hall cleaning
Hall maintenance
Hall intruder and fire alarm system		 Unrestricted
Funds
£
2,404
1,137
2,850
8,019
1,155
0
(207)
109
2,080
(8)
0		 Designated
Funds
£		 Restricted
Total
Total
Funds
Funds
Funds
2023
2022
£
£
£
2,404
1,878
1,137
1,026
2,850
3,028
8,019
7,861
235
1,390
290
0
908
(207)
(223)
109
99
2,000
2,000
800
2,080
1,040
(8)
(9)
0
(157)
17,538 0 2,235
19,773
16,541
Unrestricted
Funds
£
802
900
0
0		 Designated
Funds
£
-
-
-		 Restricted
Total
Total
Funds
Funds
Funds
2023
2022
£
£
£
-
802
853
900
800
-
0
370
-
0
318
1,702 0 0
1,702
2,341

15

THE PARISH OF ST. PETER AND ST. JAMES, BELFAST

Notes to the Financial Statements for the year ended 31 December 2023

9 Expenditure - General

Annual donations - Note 20
Computer and IT
Danske Bank Fees
Diocesan Assessment
Electricity and gas - Church and hall
Less - RCB - Various bequests
Gazette costs
Ministry assistants employment costs
(Paid from St James' Endowment Grant)
Miscellaneous
New equipment - Note 20
Parish catering
Printing and stationery, net of receipts
Secretarial employment costs incl, pension and national ins.
Telephone and broadband
TLG fees
(Paid from Board of Education TLG Grant and Hope Beyond Grant)
Accountancy
Less - CIT Various Bequests for parish purposes
Less - RCB - Various bequests for parish purposes
10 Expenditure - St. James Property
Electricity and gas
Insurances
Repairs and maintenance*
Legal Fees
Water and sewerage
Less - Contributions for utility costs		 Unrestricted
Funds
£
0
729
191
9,686
8,324
(8)
252
2,564
1,002
917
1,475
17,163
1,783
875
(922)
(515)		 Designated
Funds
£		 Restricted
Total
Total
Funds
Funds
Funds
2023
2022
£
£
£
1,881
1,881
3,256
729
1,053
191
184
9,686
9,523
8,324
5,895
(8)
(7)
252
184
1,440
1,440
8,320
732
3,296
1,856
1,002
0
531
1,448
2,679
1,475
1,246
17,163
16,849
1,783
1,444
900
900
873
875
875
(922)
(1,019)
(515)
(265)
43,516 0 5,484
49,001
52,946
Unrestricted
Funds
£
467
1,323
6,236
352
(592)		 Designated
Funds
£		 Restricted
Total
Total
Funds
Funds
Funds
2023
2022
£
£
£
467
647
1,323
1,411
6,236
541
0
1,200
352
295
(592)
(942)
7,786 0 0
7,786
3,152

16

THE PARISH OF ST. PETER AND ST. JAMES, BELFAST

Notes to the Financial Statements

for the year ended 31 December 2023

11 Interest capitalised

Sale of land (NIE) - Interest
RCB - General Unit Trust Distributions
12 Investments
RCB - Lands sale (NIE) - Cash on deposit
RCB - General Unit Trust (NI)(Including £83 uninvested cash)
CIT - Unit Trust - Specific donations and bequests
CIT - Capital Fund Unit Trust
M&G Investments (Charifund)
RCB - General Unit Trust (NI)
CIT - Unit Trust - Specific donations and bequests
CIT - Capital Fund - Unit Trust
M&G Investments (Charifund)		 Unrestricted
Funds
£
152
177		 Unrestricted
Funds
£
152
177		 Restricted
Funds
£
-
-		 Total
Funds
2023
£
152
177		 Total
Funds
2022
£
26
231
330 0 330 257
Cost
2023
£
4,965
18,966
34,701
21,005
35,000		 Cost
2022
£
4,812
18,789
34,701
21,005
35,000		 Value at
31/12/2023
£
4,965
45,091
53,768
48,589
31,277		 Value at
31/12/2022
£
4,812
43,610
51,387
48,589
32,029
114,636 114,307 183,690 180,427
Nominal
Holding
Units
10,577.68
34,356.10
28,464.77
2,179.59		 Value at
31/12/2023
4.255
1.565
1.707
1.435

NOTE

At the date of signing the accounts, confirmation of the number and value of the CIT Capital Fund was outstanding.

17

THE PARISH OF ST. PETER AND ST. JAMES, BELFAST

Notes to the Financial Statements

for the year ended 31 December 2023

13 Debtors and prepayments

Cavehill Community Choir Concert
FWO monies outstanding
Gift aid refunds receivable
Insurance prepaid
Plate collections
Rates prepaid
Utility contributions receivable
Water and sewerage prepaid
BCC grant receivable
Amazon Smile donations
St Paul's ReMarkable device contribution
Donation
Special collections
14 Creditors and accrued expenses
Accountancy
Charitable donations
C Grogan key deposit
Dog trainers key deposit
Electricity
Gas
Water and sewerage
PAYE and pension contribution
Weight Watchers key deposit
Bank fees
Litte Kickers key deposit
Bridge Club - Funds, Note 18
Benevolent Fund - Funds, Note 16
Charities Action Group - Funds, Note 17
Crafty Goodness - Funds
COPTS chair deposit
Parish Choir - Funds, Note 19		 2023
2022
£
£
30
0
-
395
-
7,916
6,266
5,250
-
196
-
384
-
108
-
260
300
0
-
7
-
200
-
60
-
320
6,596
15,096
2023
2022
£
£
875
875
25
1,775
20
0
40
0
-
1,624
-
251
201
108
778
621
40
40
-
15
-
40
619
103
1,555
2,389
892
48
137
137
200
0
658
415
6,040
8,441

18

THE PARISH OF ST. PETER AND ST. JAMES, BELFAST

Notes to the Financial Statements for the year ended 31 December 2023

15 Capital Fund
16 Benevolent Fund
Funds received
Gift aid tax on funds received
Funds expended
Transfer (Surplus)/Deficit to/from fund
17 Charities Action Group
Funds received
Gift aid tax on funds received
Donations made
Transfer (Surplus)/Deficit to/from fund
18 Bridge Club
Funds received
Donations made
Transfer (Surplus)/Deficit to/from fund
19 Parish Choir
Funds received
Gift aid tax on funds received
Donations made
Transfer (Surplus)/Deficit to/from fund		 Held at
31.12.2022
£		 Interest
Received and
Capitalised
£		 Interest
Received and
Capitalised
£		 Interest
Received and
Capitalised
£		 Withdrawals
and
Transfers
£		 Withdrawals
and
Transfers
£		 Held at
31.12.2023
£
122,268 0 0 122,268
Total Funds
2023
£
30
0
(864)		 Total Funds
2022
£
330
75
(470)
(834)
834		 (65)
65
0 0
Total Funds
2023
£
1,155
289
(600)		 Total Funds
2022
£
840
198
(3,325)
844
(844)		 (2,287)
2,287
0 0
Total Funds
2023
£
2,366
(1,850)		 Total Funds
2022
£
1,353
(1,250)
516
(516)		 103
(103)
0 0
Total Funds
2023
£
310
63
(130)		 (103)
Total Funds
2022
£
350
75
(450)
243
(243)		 (25)
25
0 0

19

THE PARISH OF ST. PETER AND ST. JAMES, BELFAST

Notes to the Financial Statements for the year ended 31 December 2023

for the year ended 31 December
20 Miscellaneous note
Other Giving
Harvest collection
SumUp
Charity collections
Bishops' Appeal
Charities Fund incl. Gift Aid
Blythswood Shoebox Appeal
Paid to Blythswood Shoebox Appeal
Poppy Appeal
Paid to Poppy Appeal
Cavehill Community Choir Concert
_ Paid out as follows;_
Church charity donations
Bishops' Appeal
Air Ambulance NI
Friends of the Cancer Centre
Tear Fund
Sands NI
Prison Fellowship NI
Church donations received
Bridge Club (Heat and light)
Crafty Goodness (Heat and light)
Drama Group (Refreshments)
Bookstall
New Equipment
Projector
Piano keyboard
SumUp Card Reader
Church Heaters		 2023
£
1,640
20
1,660
£
267
268
10
(10)
143
(143)
1,346
1,881
£
267
323
323
323
323
323
1,881
£
1,250
100
100
118
1,568
£
420
369
76
138
1,003		 Church Repairs/Maintenance
£
Asbestos Encapsulation
624
Church Gutters
450
Electrical Work
598
Lightning Test
246
Landscaping
144
Fire Extinguishers Service
142
Smaller Payments
200
2,404
Hall Hire
£
Baby Sensory
2,515
Various Charities
95
Children's Party
30
Dog Training Club
2,350
Drama Time
600
Electoral Office
500
IOCNI
200
KOK Tutoring
475
Learning Unlocked
460
Lutheran Church
90
NB Historical Society
315
NB Men's Group
35
National Childbirth Trust
71
PhysioPilates
2,770
POP Photography
126
Priory Singers
550
Speech and Drama
2,450
Unislim
390
Walkers Group
206
WeightWatchers
1,360
15,588
Gift Aid
£
Received and receivable
19,083
To Charities Action Group
(289)
To Choir Fund
(63)
18,732		 Church Repairs/Maintenance
£
Asbestos Encapsulation
624
Church Gutters
450
Electrical Work
598
Lightning Test
246
Landscaping
144
Fire Extinguishers Service
142
Smaller Payments
200
2,404
Hall Hire
£
Baby Sensory
2,515
Various Charities
95
Children's Party
30
Dog Training Club
2,350
Drama Time
600
Electoral Office
500
IOCNI
200
KOK Tutoring
475
Learning Unlocked
460
Lutheran Church
90
NB Historical Society
315
NB Men's Group
35
National Childbirth Trust
71
PhysioPilates
2,770
POP Photography
126
Priory Singers
550
Speech and Drama
2,450
Unislim
390
Walkers Group
206
WeightWatchers
1,360
15,588
Gift Aid
£
Received and receivable
19,083
To Charities Action Group
(289)
To Choir Fund
(63)
18,732

Asbestos Encapsulation
Church Gutters
Electrical Work
Lightning Test
Landscaping
Fire Extinguishers Service
Smaller Payments
Hall Hire
Baby Sensory
Various Charities
Children's Party
Dog Training Club
Drama Time
Electoral Office
IOCNI
KOK Tutoring
Learning Unlocked
Lutheran Church
NB Historical Society
NB Men's Group
National Childbirth Trust
PhysioPilates
POP Photography
Priory Singers
Speech and Drama
Unislim
Walkers Group
WeightWatchers
Gift Aid
Received and receivable
To Charities Action Group
To Choir Fund
2,404
£
2,515
95
30
2,350
600
500
200
475
460
90
315
35
71
2,770
126
550
2,450
390
206
1,360
15,588
£
19,083
(289)
(63)
18,732

20