Charity Number: NIC101023 Shankill Parish Lurgan Annual Report and Audited Financial Statements for the financial year ended 31 December 2024 Daly Park & Company Ltd Chartered Accountants and Statutory Auditors 4 Carnegie Street Lurgan Co. Armagh BT66 6AS Northern Ireland
Shankill Parish Lurgan CONTENTS Page Truslees, and Other Information Trustees, Report Statement of Trustees, Responsibililios Independent Auditorfs Report Statement of Financial Activities 10 Balance Sheet Statement of Cash Flows Notes lo the Financial Staternents 13-19
Shankill Parish Lurgan TRUSTEES, AND OTHER INFORMATION Trustges Ruth Craig Leanne Gray Georgina Maginn Richard Parker Chris Stevenson lan Pollard Wendy Gardiner Desmond Gregg Kyle Mcmullan Craig Collen Revd Rodney Blair Denis Johnston Andrew Davis Neal Myers Daphne Jones Alison Martin Paul Kissock Maureen McLoughlin Chairperson Rev. Mark HaTvey Charlty Number in Northern Ireland NIC101023 Principal Addrass Church Walk Lurgan Co. Armagh BT67 9AA Northern Ireland Audltors Daly Park & Company Ltd Chartered Accountants and Statutory Auditors 4 Carnegie Street Lurgan Co. Armagh BT66 6AS Northern Ireland Solicitors Watson & Neill 23 High Street Lurgan Co. Armagh B T668AH Northern Ireland
Shankill Parish Lurgan TRUSTEES, REPORT for the financial year 8nded 31 Oecember 2024 The trustees present their Trustees, Report and the audited financial slalements for the financial year ended 31 December 2024. The financial slalemenls are prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Tru5tees' Report contains the information required to be provided in the TTUStees' Annual Report under the Statement of Recommended Practice ISORPI guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees. In this report the trustees of Shankill Parish Lurgan present a summary of ils purpose, governance, aclivilies, achievements and finances for the financial financial year 31 December 2024. The charity 15 a registered charity and, although not obliged lo comply with the Slalemenl of Recommended Practice ISORPI as issued by the Charity Commissioners for Northern Irelaind 2018. the organisalion has implemented its recommendations where relevant in these financial stalemenls. Structure. Governance and Management Structure The governing document of the charity is the Constitution of the Church of Ireland, chapter111 (Parishes and Parochial Organisationl. The members of the Select Vestry sorve as the Charity Trustees. The Select Vestry is responsible for the day-to4ay management of the parish. The select vestry consists of the members of the clergy serving in the parish, the churchwardens, the glebe wardens and generally not more than elve other members of the general vestry elected al the General Vestry. The Select Vestry is chaired by the incumbent or other member of the clergy officiating in the parish. Select Vestry members are responsible for making decisions on mallers of general concern and importance to the parish including deciding how parish funds are to be applied. The Select Vestry meets al limes fixed by the members or by the Diocesan Synod. Special meetings may be convened at any lime by the chairperson or the churchwardens. PRINCIPAL OFFICE-BEARERS Clergy.. The Venerable Mark Harvey (Rector and Chair of the Trusleesl Revd Rodney Blair (Vicar) Honorary Secretary.. Mr. Craig Collen Honorary Treasurer.. Mrs. Ali50n Martin Rectols Churchwarden.. Miss. Georgin8 Maginn Mr. lan Pollard People's Churchwarden.. Mrs Wendy Gardiner Rector's Glebewarden.. Mr. Chris Stevenson People's Glebew8rden: Mr Kyle M¢Mullan Board Appointment Process All members of the Church of Ireland who are over the age of 18 and are either resident within the parish or live elsewhere but have been accustomed mernbers of the congregation for al least three months. may register as members of the General Vestry of the Parish, allowing Ihern lo allend and vole at meetings of the General Vestry and to sland for election lo the Select Vestry. Meetings of the General vestry are held al least once a year. The Select Vestry is elected as part of this General Vestry Meeting. The Select Vestry will hold their positions for a period of one year. Select Vestry members may be re-elected annually and there is no limit on the number of terms which rnay be served. Pay and Remuneration Acting in their roles as rector and vi¢ar of Shankill Parish Lurgan, Archdeacon Mark Hatvey and Revd Rodney Blair both received a stipend, expenses of office and locomotory allowance in accordance with figures approved by the General Synod of the Church of Ireland. No other charity trustees receive any remuneration from Shankill Parish Church. Review of Activities. Achievements and Perfomianee OBJECTIVES AND ACTIVITIES The charitable purpose of the Church of Ireland is the advancement of religion. The principal function of Shankill Parish Lurgan is to support the advancement of the Christian religion by promoting the mission of the church pastoral, evangelistic. social and relational. Being open to and engaging with society as a whole and offering support for those needing help are fundamental lo the practical delivery of tho benefits of Chrislianily. Additionally, and in accordance with its slated charitable pur ose, Shankill Parish Lur an has custod of a lar e collection of historical
Shankill Parish Lurgan TRUSTEES, REPORT for the financial year ended 31 December 2024 records. maleri81s. and artefacts of significance lo the cultural and religious heritage of both the Parish and the town of Lurgan. The care and maintenance of these is undertaken by the Select Vestry. ACHIEVEMENTS, PEFORMANCE AND PUBLIC BENEFIT Shankill Parish is a vibrant and welcoming church family of different ages and backgrounds seeking lo build faith and build Community in Lurgan. We are called lo be hope builders in our community as we use our gifts, talents, and passions to sèrve one tslher and those beyond our walls, sharin9 the transforming love of God and leaving a legacy of faith for the generations lo come. This slalement embodie5 and undergirds the mission we undertake as a parish and recognises the strategic role we have in the community of Lurgan. The parish has ¢orisidered the Charity Commission for Northern Ireland's guidance on public benefit lo ensure that the activities entered during the year have helped to achieve the Parish's obje¢lives, as well as providing public benefit. CORPORATE WORSHIP For the whole of 2024, we have been worshipping in the Jethro Centre (the community facility owned by Shankill Parish Caring Associalionl. This is due to the ongoing remedial works which necessitsled the closure of the church from the start of February 2022. Worshipping in the sports hall al Jelhro is very different lo an historic church building, bul the congregations have grown during this period, particu12rly at our 1 Oam service which is targeted specifically al a younger demographic. We are consislenlly seeing over 300 people gather for worship each Sunday. We are grateful lo the management and staff of the Jethro Centre for their support. CHILDREN AND YOUTH During the year our children's and youth ministries have been able to resume without reslriclions. 11 has been so encouraging lo see children and families re-engage with our programmes on Sundays and during the week. Particularly pleasing ha5 been the re-launch of our Toddler Time group which has seen large numbers of parentslcarers and children return on a Monday morning each week. Our Sunday school and associated children's programmes have all seen encouraging growth. Our Children's Ministry Coordinator left al the end of August. and we recruited her successor in Sepletnber. In October, the parish acquired the old Busmen's Mission Hall, adjacent lo the Jethro Centrg as a dedicated space for youth and children's programmes. This has been largely funded by external funders. PASTORAL CARE During the year. our Pastoral Support Coordinator has reviewed and developed this vital work amongst the older members of the parish, and recruited additional volunteers for our visitation team. PASTORAL CARE During the year, our Pastoral Support Coordinator has reviewed and developed this vital work amongst the older members of the parish and recruited additional volunteers for our visitation team. PARISH GROUPS Our various mid-week programmes continue, and these are designed lo build up members in their faith and provide opportunities for building a greater sense of community. These include Connect Groups 1150 participanlsl, Ladies, Guild {301. Molherfs Union1201. choir1251, and our weekly prayer group120-301. OUTREACH AND EVANGELISM Our Community Evangelist's role has significantly increased our presence in the community and enabled us lo develop several programmes such as The Living Room, a weekly drop-in run in partnership with SPCA, and Story, a monthly informal gathering in Café IncredAble lin the Jethro Cenlrel where a member of our church family is interviewed about their life and faith. This year has also seen the establishment of a weekly men's drop-in. which provides a social space for men who are recently retired or unemployed. This role also enables us lo expand our compassion ministry through more personal face-lo-face contact and 5UPPOrt. Financial Review At the end of 2024 there is a surplus of £221,518 in unreslricled funds. Shankill Parish Church is bound by the Chur¢h of Ireland 'Duly of Prudence, for church Iruslees to ensure that the parish is and remains solvent and by annual accounting principles to remain a going concern. Our aim has been lo keep sufficient free reserves lo provide, as peT good practice guidelines for charities, cover for between 3-6 months in re18tion to known liabilities. The Board is very thankful for the generosity of parishioners who continued lo support the vision and mission of Shankill Parish through their finances and also their prayers. This generosity, along with the tlexibilily of staff. has allowed for a healthy surplus in the current financial year which places Shankill Parish in a strong position lo continue lo serve the Parish and community of Lurgan. Results and Dividends Al the end of the financial year the charity has assets of £7,047,731 (2023 - £6.880,847} and liabilities of £106,900 12023 - £161,536}. The nel assets of the charity have increased by £221,520.
8liunklll Pnrlah Luronn TRUSTEES, RIPORT 1110 littl11¥ Ih fjiimmllloil 1¢? on41)lUlU ao indny iJootAtt an lo 4wrnlili) nl our thiirLli lind Con9 pull ol otll (".Iiiltslliiii ('.nTrnii)Iiiilly Oiii Ilt>ivk.'o# uiiil woiNliii) iiul Imilli Iiilo Iiiiicllc4J Iliiuiiuli pruyar und 8cilfAiirp In porllGultsi. wd Iiy lo #i)thlilu oidliwiy Iwoi)lo lo Ilvo niil11141i tsllh ll# I11 ol oiir rlI111}UnIty li) tsrA'.c)Iilunc# willi Ili# Ailklui ()1 A111011, Ilw i•iir• by iolallon und, bolry •14]Iblo. ollor Iluims¥lv¥8 loi m- (•lYllI)1li0 wllli 8vclui. Wlih L•ol4l¥lluii aii(A 814iidArd I Iirk r,litsilly ¥ii04uuty i)10-acllvoty wllli luoltsldlluii, til#ii(thfilH cod#u wluch ar4 do¥•loiMyd IOF the wclor Shaiiklll I'joflbli l iiiouii &iil)th(',IllIf4 lo lliiil IN 17)Ini1n111 wllli IIMI lollowli)o I lith (:Iioilll# Joiop Iriis 102} 'lSllbli IID% ufv¥ii ¢.ui¥liil r.oiiiiMlèiiilMiii l()11)v Clwilly Cowninltstdon lof Noill1n IrfJlarKI'r oiiiclnntx on tHibllc tsjnofll Io •lltsillf411111111)u ll¥llvu4 ¥iiluioil Iiilo iltiilffj Ihu ytshr liu¥¥ li¥lp#cl lo 4r,Iikyyts Iho P4711¥h'b oljlttcllvtsj onLI aclivillv. aB w¢ll iynvNlliio i)IitJlb(I Ix¥iium Ai)Ibiii¥oII kny lh# Ooanl ol Tw•l40 16 S•iil¢mb41 2026 •lfji)tyl on It• boh411 by: Clluiiirnon Tri104
Shankill Parish Lurgan STATEMENT OF TRUSTEES, RESPONSIBILITIES loi tho fwncljl yeai eTrlod 31 OeLY)mtr 3)•4 Th• Inthos •rn respnwble loi prnponE%J tho fin8no41 thlomonts In Wrth apFIaN¥ law and reoulatsons Tho law AppIKblo lo¢hontle8 kn NOrIrn IrelaTrJ rnqulrestr Inr4eestQ WP31e finanual stateirnnis fof each findnd81 yo&1 whh a twe and (Thli vltrw of assots. litstxlttlos arbj fmanaal p)FdlpJn ol the tharty as al Ihe ftnawol year Or dalo and ol lfv surplus or defiui ol tho ctsity aThl Otnse vmh Ine Clo105 Acl ()rthern ILand> 2C In pr¢paiir•J tIKThso flnondal tstatements trusle•s re<wknEd to solecl suftnb accounlfftg Pole$ and ihoin cons&stenlty. tho Mollts and PliTKJpJos In tho chall15 SORP make 1c¢mOn1$ nThJ ttco)unttryJ estmatC3 that are [SOnabl0 4nd wwjenl, slalv whelh¢i the firb]fthl 5th1oments have Lcn Yepad I1h aFptsJtdo Attountmg standards Idenlity Ihoso st8ndNrds, OT¥J rK)lo effecl and Ihe rn8sons fr)f 8fry malenJl departwe from tnose standBF¥Js. dna pr)pJro the nMn(Jal slalemeints on golng nCeM bpsis unknss rt is Inappropnalfr to pSIe IhBI the tharty 11 continue h opernlknn Tho tTUStees confwm I1Y Iv• compbed wth the FEqUllements in prnyffing Ihtr Inants ststeme Tho truste0• tstt r•SwF• for keeping adequol• acuimrmg Ihal are SLrtfrnrrt lo show and explain tn charity's tsansadiorG and d¢?0 wlh nnble Bccurncy al any bm¢ Inarwl p)sthn of iho cjwity 8nd onatyie Irn to erNir Ihul the flnal4 SIBrnnts COrnFly wth the Charrties Act (NOrtrn IreIar They blso re¥n&t40 lor sJleguBrthr¥J iho a&sEts ol and fonco lor takg rea30b steps wEventKJn a1 delectn ol froud ond otsf ffwul8rtrS. AppwoNEd by Ihe Boa ol Tlee$ on 26 Sepltmbei 202S and $¥Jned on ts behall tsr. Rev. chalrsOn Tn5Steo
INDEPENDENT AUDITOR'S REPORT to the Members of Shankill Parish Lurgan Report on the audlt of the financial statements Opinion We have audited the charity financial slalemenls of Shankill Parish Lurgan I'lhe charily'l for the financial year ended 31 December 2024 which comprise the Slalement of Financial Aclivilies, the Balance Sheet. the Slalemenl of Cash Flows and notes to the financial statements, including the summary of significant accounting policies sel out in note 2. The financial reporting framework Ihal has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with FRS 102. In our opinion. when reporting in accordance with a fair presentation framework the financial slalements.. give a true and fair view of the stale of the charity's affairs as at 31 December 2024 and of ils surplus for the financial year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pra¢lice', and have been prepared in accordance with the requirements of the Charities Act (Northem Ireland} 2008. Basis for opinlon We conducted our audit in accordance with International Standards on Auditing IUKI {ISA5 IUKII and applicable law. Our responsibilities under those standard5 are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We bèlieve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, we have Concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the charity's ability lo continue as a going concern for a period of al least twelve months from the dale when Ihe financial slalements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem 8r8 described in the relevant sections of this report. other Information The other information compTTses the information included in the annual report other than the financial statements and our Auditor's Report thereon. The Iruslees are responsible for the other information contained within the annual report. Our opinion on the financial 51alemenls does not cover the other information and, except lo the exlenl otheise explicitly stated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or olheNise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misslalemenls, we are required lo determine whether this gives rise lo a material misslalemenl in the financial slalemenls themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required lo report that fact. We have nothing to report in this regard. Opinion on other matter prescrlbed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Trustees. Report for the financial year for which the financial statements are prepared is consistent with the financial statements.. and the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following maller5 where the Charities Act (Northem Ireland} 2008 requires us lo report lo you if, in our opillion.. adequate accounting records have not been kept.. or the financial slalemenls are not in agreement with the accounting records and roturns.. or certain disclosures of Iruslees, remuneration specified by law are not made., or the Iruslees were not entitled to prepare the financial statements in accordance with the small companies regime and lake advantage of the small companies, exemption in preparing the Trustees, Annual Report.
INDEPENDENT AUDITOR'S REPORT to the Members of Shankill Parish Lurgan Responsibilities of trustees for the financial Statements As explained more fully in the Slalement of Trustees, Responsibilities set out on page 8, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as they determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, mallers related to going concern and using the going concern basis of accounting unless management either intends lo liquidate the charity or lo cease operations, or has no realistic allernalive but lo do so. Auditor's responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free from material misstatement, whether due lo fraud or error, and lo issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a material misstatement when it exists. Misstalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud, are instances of non-compliance wilh laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect material misslalements in respect of irregularities, inclLiding fraud. The extent to which our procedures are capable of delecting irregularities, including fraud is detailed below.. There is an inherent difficulty in detecting irregularities during audit. However the effectiveness of entity's controls, the nature and extent of audit procedures performed, gives us confidence in detecting irregularilies. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report. Ruairl Maginn {Se or Statutory Auditor) DALY PARK & Chartered Acc 4 Carnegie Sl Lurgan Co. Armagh BT66 6AS Northern Ireland PANY LTD nts and Slatulory Auditors un 25 September 2025
Shankill Parish Lurgan STATEMENT OF FINANCIAL ACTIVITIES for the financial year ended 31 December 2024 Unrestrictgd Restricted Funds Funds 2024 2024 Total Unreslricled Reslricled Funds Funds Funds 2024 2023 2023 Total Funds 2023 Notes Income Donations and legacies Activities for generating funds Investments 397,327 13,054 406.388 803,715 13,054 381,320 53.323 538,879 920,199 53,323 18,867 18.867 18,522 18,522 Total incoming resources 429,248 406,388 835.636 453,165 538,879 992,044 Expenditure Raising funds Charitable activities 2,906 489.273 2.906 611.210 3,948 451,198 3.948 796,954 1,248,152 121,937 Total Expenditure 492,179 121,937 614,116 455,146 796,954 1,252.100 Net incomellexpenditurel 162.9311 284.451 221,520 11,9811 1258,0751 1260,0561 Transfer5 between funds Net movement in funds for the financial year 162.9311 284.451 221,520 11,9811 1258,0751 1260,0561 Reconciliation of funds: Total funds beginning of the year 19 6,924.188 (204,877) 6,719,311 6.926,169 53,198 6,979,367 Total funds at the end of the year 6,861,257 79.574 6,940,831 6.924,188 1204,8771 6,719,311 The Statem&nl of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to Continuing aclivilies. The notes on pages 13 tts 19 form part of the financial slalements 10
Shankill Parish Lurgan BALANCE SHEET a8 al 31 C)e¢emr 2024 2024 2023 Notes Flxttd Assets Tangib asse15 11 ,19426 6.223.516 Cuent Assets Debtors Cash al bank and tn hand 12 13 79,736 78J.069 285,111 3T2.220 8f2.805 657,331 Credltors: Amounts falllng due withln one year 14 1106,9001 (131.536) Nel Currenl Assets 766J06 525,795 Total Assets less CuTrnnt Llabllliles 6J40M31 6,749,311 CfEditors Amounts talfing duo after n)Jre than on¢ year 16 (30.OQ)I Total Net Assets 6W.831 6.719,311 Funds Restncted fvnds Oe&gnaled funds IUnrEstiicled) General nd (unrestsided) 79.674 387.060 Sh74,197 (204.8771 359,248 6.564.940 Tolal funds 19 6J40MJ1 6.719,311 Approd by the Boanl ol TntteS •nd authofid lor *5sue on 26 Septembu 2026 aThl slgned C>n Its behall by Harve Chalrpetso Alls¢)n Martin Trustee 11
Shankill Parish Lurgan STATEMENT OF CASH FLOWS for the financi81 year ended 31 December 2024 2024 2023 Notes Cash flows from operating activities Net movement in funds Adjustments for= Depreciation Interest receivable and similar in¢ome Interest payable and similar expenses Gains and losses on disposal of fixed assets 220,552 1261,7891 42.097 {5.2991 39,948 11041 1,235 18.909 1681 257,282 1201.801 } Movements in working capital.. Movement in debtors Movement in creditors 205,375 119,636) 1239,2801 40,412 Cash generated froml{used in) operations Interest paid 443,021 1400,6691 11,2351 Net cash generated fromllused in) operating activities 443,021 1401,9041 Cash flows from investing aetivities Interest received Payments to acquire tangible assets Receipts from sales of intangible assets Receipts from disposal of tangible assets 6.267 (3,5071 1,837 19,6521 118,909) 216,719 68 Nel cash generated from investment activities 2,828 189.995 Cash flows from financing activities New short term loan Repayment of short temi loan 1,235 126,105> 135,000} Net cash used in financing activities 135,0001 124,8701 Net increasel(decreasel in cash and cash equivalents Cash and cash equivalents at the beginning of the year 410,849 372,220 1236,7791 608,999 Cash and cash equivalents at the end of the year 13 783,069 372,220 12
Shankill Parish Lurgan NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 GENERAL INFORMATION Shankill Parish Lurgan is a charity incorporated in Northern Ireland. The registered office of the charity is Church Walk, Lurgan, Co. Armagh, BT67 gAA, Northern Ireland. The financial slalements have been presented in Pound 1£) which is also the functional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity's financial statements. Basis of preparatlon The financial statements have been prepared on the going concern basis under the historical cost convention, modified to inclLJde certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" AS permitted by the Companies Act 2006, the charity has varied the standard formals in that act for the Slalemenl of Financial Activities and the Balance Sheet. Departures from the standard formals are lo comply with the requirements of the Charities SORP 2nd are in compliance with section 4.7. 10.6 and 15.2 of that SORP. Statement of compliance The financial slaternenls of the charity for the financial year ended 31 December 2017 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" Fund accounting The following are the calegorises of funds maintained.. Restrlcted funds Reslricled funds ar8 accounted for in accordance with the particular terms of trust arising from the express or implied wishes of the donors in 80 far as these are intended to be binding on the charity. Where such wishes are not intended lo be binding, they are taken into acccounl and recognised in appropriately designated funds Unrestricted funds Designated fund5 are unrestricted funds Ihal represent amounts set aside al the discretion of the trustees for specific purposes Income Voluntary income or capital is included In the Slalemenl of Financial Activities when the charity is legally entitled lo it, ils financial value can be quantified with reasonable certainly and there is reasonable certainly of ils ultimate reeeipl. Entitlement lo legacies is considered established when the charity has been notified of a distribution lo be made by the execulors. Income received in advance of due performance under a coritract is accounted for as deferred income until eamed. Gr8nls for activities are recognised as income when the related condition5 for legal enlitlemenl have been met. All other income is accounted for on an accruals basis. Expenditure Expenditure is recognised once there is a legal or constructivg obligation to make a paymont to a third party, il is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a Cost against the activity for which the expenditure was incurred. Tangible fixed assets and depreclatlon Tangible fixed assets are slated 31 cost or al valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated rèsidual value, over their expected useful lives as follows: Land and buildings freehold Plant and machinery Fixtures, fittings and equipment Motor vehicles Heritage Assets 2.10 Straight line 2°/0 Straight line 20D/o Reducing balance 25°/0 Straight line 13
continued Shankill Parish Lurgan NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 Dèbtors Debtors are recognised al the selllemenl amount due after any discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. Income recognised by the the charity from government agencies and other co-funders. but not yel received 81 ye8r end. is included in debtors. Cash at bank and Sn hand Cash al bank and in hand comprises cash on deposit al banks requiring less than three months notice of withdrawal. Taxation No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. Shankill Parish Lurgan is recogni5ed as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on il's charitable activities. Ponsions The ¢harily operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Annual contributions payable to the charity's pension scheme are charged lo the profit and loss account in the period lo which they relate INCOME DONATIONS AND LEGACIES Unrestritted Restricted Funds Funds 2024 2023 Gifts and donations (FWO) Gift Aid Tax Refund Other Income Donations & legacies 10.419 86,632 75,912 3,025 318,390 4.581 80.493 3,025 720.197 401,807 823,148 397,327 406,388 803.715 920,199 OTHER TRADING ACTIVITIES Unrestricted Restricted FuTrd5 Funds 2024 2023 Hire of BuslHall HatvesUGift Day 2,271 10,783 2,271 10,783 1,280 52,043 13.054 13,054 53,323 INVESTMENTS Unrestricted Restricted Funds Funds 2024 2023 Investments 18.867 1B.867 18.522 EXPENDITURE RAISING FUNDS Dlrect Costs Other Costs Support Costs 2024 2023 Bus Costs 2,906 2,906 3,948 14
continued Shankill Parish Lurgan NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 CHARITABLE ACTIVITIES Direet Costs Other Costs Support Costs 2024 2023 Worship and parish activities Direct Costs Parish Buildings 90,397 323.031 124.705 27.044 46.033 117,441 369,064 124,705 110.751 338.674 798,727 538,133 73.077 611,210 1,248,152 SUPPORT COSTS Charitable Activitie5 2024 2023 Support Costs 73,077 73.077 85,127 ANALYSIS OF SUPPORT COSTS 2024 2023 Support Costs 73.077 85,127 INCOME Plate Collections. Weekly Envelopes, Graveyard income and Columbarium income are accounted for on a cash receipts basis as the amount is Collected. Income arising from the rental of Parish Centre facilities lo third parties is recognised when the parish has enlitlemenl to the funds, any performance conditions allached to the income have been mel, il is probable that the income will be received and the amount can be me95ured reliably. Income from govemment and other grants. whether 'capital' grants OT 'revenue' grants, is recognised when the charity has entitlerrTrent lo the funds. any performance conditions attached to the grants have been met, il is probable that the income will be received and the amount can be measured reliably and is not deferred. Legacies are included wilhin Income under either unreslricled or reslricled funds according lo the terms under which the donation is made and when the amount can be quantified with reasonable certainty. Donations and gifts in kind are brought into the accounts at their fair value to the Parish. NET INCOME 2024 2023 Net Income is stated after chargingllcreditingl.. Depreciation of tangible assets (Surplus} on disposal of tangible fixed assets Auditor's remuneration.. audit services 42,097 {681 39,948 3,800 3,000 INVESTMENT AND OTHER INCOME 2024 2023 Rent receivable - other income Insurance claims receivable Bank interest Investment income 12,600 3,025 5,299 968 16,685 104 1,733 21,892 18,522 INTEREST PAYABLE AND SIMILAR CHARGES 2024 2023 On bank loans and overdrafts 1,235 15
conlinLJed Shankill Parish Lurgan NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 10. EMPLOYEES AND REMUNERATION The 51aff costs comprise: 2024 2023 W8ges and salaries Pension costs 249.504 16,889 211,701 15,313 266,393 227.014 16
£ L) UC£
Shankill Parish Lurgan NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 12. DEBTORS 2024 2023 Trade debtors Prepayments and accrued income 52,807 26,929 285,111 79,736 285,111 13. CASH AND CASH EQUIVALENTS 2024 2023 Cash and bank balances Cash equivalents 746,983 36.086 341,814 30,406 783,069 372,220 14. CREDITORS Amounts falling due within one year 2024 2023 Bank loan Payments received on account Trade creditors Taxation and social security costs {Note 161 Other creditors Accruals and deferred income.. Pension accrLJal other accruals 5,000 32,700 44,429 4,151 17.708 35,950 37,407 4,743 14,828 557 13,415 535 27,013 106.900 131,536 Danske Bank currently hold 2 charges over the properties at Boweris Meadow and Bowens Mews. Lurgan by way of security for loans made for the purchase of these properties. 15. CREDITORS Amounts falling due after rnore than one year 2024 2023 Bank loan 30,000 Repayable in one year or less, or on demand (Note 141 Repayable between one and two years Repayable between two and five years Repayable in five years or more 5,000 5,000 15,000 10,000 35,000 16. TAXATION AND SOCIAL SECURITY 2024 2023 Creditors.. PAYE I NI 4.743 4,151 17. PENSION COSTS - DEFINED CONTRIBUTION Payrnents for pensions in the year are made lo the Church of Ireland Clergy Pension Fund. The Church of Ireland Clergy Pensions Trustee Limited was established in 2010 and assumed Iru5teeship of this fund from 1 January 2011. The Representative Church Body. which was Trustee of the fund prior to 2011, is th8 sole shareholder of the Church of Ireland Clergy Pensions Trustee Limited. 18
continued Shankill Parish Lurgan NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 18. RESERVES 2024 2023 At the beginning of the year surplU(Derlc1l) for the financial year 6,719.311 221,520 6,979,367 {260,0561 Al the end of the year 6,940,831 6,719,311 19. FUNDS 19.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restrl¢t¢d Funds Funds Total Funds Al 1 January 2023 Movement during the financial year 6.926.169 53,198 {1,981) 1258.0751 6,979,367 1260,0561 Al 31 December 2023 Movement during the financial year 6,924,188 162,931 } {204,8771 284,451 6,719.311 221.520 Al 31 December 2024 6.861,257 79,574 6,940,831 19.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2024 Income Expenditure Transfers Balance between 31 December funds 2024 Restricted funds Building Fund Other Restricted Funds 1255,741 } 50,864 384,295 22,093 121,937 6.617 72,957 {204,8771 406.388 121,937 7g.574 Unrestricted funds Compassion Fund Building Hope Fund Unrestricted General 4,141 355.107 6,564,940 4,141 382,919 6,474,197 27,812 401,436 492,179 6,924,188 429,248 1492.1791 6,861,257 Total funds 6,719,311 835,636 614,116 6,940,831 20 RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT Openlng balance Cash flows Closing balance Short-lerm borrowings 135,000} 35,000 Totsl liabilities from financing activitie5 135,0001 35,000 Total Cash at bank and in hand (Note 131 783.069 Total net debt 783,069 19