Seagoe Parish Church Annual report and financial statements For the year ended 31 December 2023 Charity Registration Number: NIC101443
Seagoe Parish Church Page I Annual report and financial statements for the year ended 31 December 2023 Contents Pages Charity reference and administrative details Trustees, annual report Independent examiner's report to the Trustees Statement of financial activities Balance sheet Notes to the financial Statements 10-19
Seagoe Parish Church Page 2 References and Administrative Details Charity Name: Portadown/Seagoe/St. Gobhan/Down & Dromore/Church of Ireland Charity Registration Number: 101443 Contact Address: 46 Seagoe Road, Portadown, County Armagh, BT63 5HW Trustees: Revd. Canon Terence Cadden Revd. Jim Fleming Mrs Phyllis Richardson Mr Edward Graham Mr Neil Robinson Mr Stephen Vaughan Mr Eric Mccartney Mrs Beth Howell Mf David Kerr Mr Jim Aughey Revd. Stuart Moles Mr Philip Holland Mr Philip Morrison Mrs Kathleen Crowe Mr Nicholas Bell Mrs Jeanette Carson Mrs Sarah O'Hare Mr Jim Howell Mr Rodney Johnston Independent Examiner: Barry Thompson 76-78 Church Street Portadown Co ArmaEh BT62 3EU Bankers Ulster Bank Ltd 20 High Street Portadown Co Armagh BT62 IHU
Seagoe Parish Church Page 3 Trustees, Annual Report for the year ended 31 December 2023 The trustees of St Gobhan's Parish Church / Seagoe Church of Ireland present the annual report and accounts for 5eagoe Parish Church for the period I" January 2023 to 31" December 2023. Objectives and Activities The charitable purpose of St Gobhan's Parish Churchl Seagoe Church of Ireland is the advancement of the Christian religion. The principal function of St Gobhan's Parish Church/Seagoe Church of Ireland is to support the advancement of the Christian religion by promoting, through the work of Seagoe Parish. the whole mission of the church, pastoral, evangelistic, social and ecumenical. Being open and engaging with society as a whole and offering support for those needing help are fundamental to the practical delivery of the benefits of Christianity- As a result of activity in the pursuit of the advancement of the Christian religion, 5t Gobhan's Parish Church I Seagoe Church of Ireland has custody of property and of records, materials and artefacts of significance to the cultural and religious heritage and maintenance of which is undertaken by the Select Vestry of the church. Achievements, Performance & Public Benefit A summary of the activities undertaken by the charity to further its purposes in 2023 are the followin8'. We maintain St Gobhan's Parish Church 118141, Seagoe Old School 118591, Seagoe Rectory11930'sl. St Patrick's Hall, Killicomaine119571 and Seagoe Parish Centre120101. The churchyard adjoining the church dates back to the early 1900's. We are a very busy parish with the Word of God and pastoral care being at the centre of all we do_ Church services include= Holy Communion- Every Sunday19.OOaml Morning Worship- Every Sunday110.30am} WhAth include FtsmilySeNite (I" Sundoy of everyfflonthj. Puri5h CommurJion14' Sunduy of every monthj Evening Worship at St Patrick's Hall, Killicomaine- Every Sunday-16.00pm} Praise Seivice at Seagoe Parish Centre- 3, Sunday of every month17.OOpml Holy Comfflunion- Every Wednesday-110.OOaml The different timings are to facilitate all the congregation to encourage regular worship. Attendance at these services was 13,801, an incre35e of 2,725 people from 2022. These service5 are also recorded and uploaded onto Facebook and YouTube where they are accessible for others to watch. The services are also available on CD that is recorded, produced and delivered to members of the congregation who are not able to attend church. We also hold a mid-week service weekly and other occasional service5 not on a Sunday. Special seasonal 5ervice5 are held throughout the year such as Harvest, Remembrance, Christmas and Easter. There is also the annual Church Lads & Church Girls Brigade Enrolment service. These 5ervice5 draw larger congregations than normal, and all these services provide an opportunity for Christian teaching, fellowship and social engagement. We facilitated funeral services for families Wlth associated pastoral support and follow up. Baptisms took place either during our main Sunday services or on other occasional dates not on a Sunday and Marriages took place on other occasional dates not on a Sunday. Pastoral Care is core to the advancement of the Christian religion and Parish Staff along with other Pastoral volunteers within the parish offered a range of pastoral support to parishioners in their homes. A substantial number of informal visits to pari5hioner5 at home, hospital or in a nursing home were carried out by church members and a group of Parishioner5 a150 visited care homes to share the Gospel of Christ to residents. Having established a missionary link with Shyogwe Diocese in 2017 when we had the opportunity of 4 representatives from the Diocese visited the parish for a week, we continued to hold that link and support with Shyogwe Diocese through CMSI. In addition to receivin8 regular updates from the Diocese, our mission team continued to be in contact with clergy and people in Shyogwe, through the use of social media. We continued to raise fund5 to SUPPOrt the link, and the mission team encoura8ed the Parish to engage more fully with the link.
Seagoe Parish Church Page 4 Trustees, Annual Report for the year ended 31 December 2023 Icontinuedl Throughout the year we also invited a number of representatives of some of the organisations we support to address us at church services and other church events. There were 3 editions of the Parish magazine published throughout the year and delivered to around 700 homes to promote our activities and news from within the church community. There continues to be a weekly news sheet produced which helps inform parishioners of activities and events happening within the parish and also other events happening outside the parish. We have our digital communication in place which includes the website Iwww.seagoe.co.ukl, our Facebook pago 1facebook.com/seagoeparishl and our Instagram page (seagoeparishl. We also have the digital archives website Iwww.seagoearchives.uk}. We continued to meet for regular prayer meetings and fellowship groups throughout the year which help build social engagement and participation. Christian fellowship and faith development. We also have our numerous church groupswhich met duringtheyear. These include. Mothers Union, Church Lads & Church Girls Brigade, Rubies Women's Group, Seagoe Men's Group Choir, Seagoe Indoor Bowling Club and Healing Prayer Group. We have two Parent and Toddler groups which continue to run led by volunteers and established to support parents or carers. The groups met throughout the year with approx. 30 adults and 35 children attending each week. On Sunday mornings we continued to have Sunday Light (Sunday School) which runs September- June. Unfortunately, since Covid numbers have drastically decreased within this group, and we only have around 20 children attending every week. There have also been specific seasonal events organised for the children such as the Party of Light, Easter Party and Messy Church themed sessions. On Sunday evenings we continue to provide a twice monthly youth fellowship for teenagers. Numbers have been very low with only 8 young people attending this group and on a Sunday morning once a month we provide a Café Youth Church which attracts around 12 young people. These groups help the young people to gain Christian teaching, further their faith. engage with other young people and build friendships and various skills. Clergy from the parish continue to lead assemblies in the local primary schools in the area, however they have not restarted in Killicomaine Junior High School. This is vital to the parish as it helps in the outreach of the Parish and the community engagement through local schools. Our outreach work continues to be developed within Killicomaine estate through the work of the church plant, Killicomaine Community Church, which is led by Ordained Local Minister, Revd. Jim Fleming. There is a weekly Sunday evening gathering at "Victor's Place" and there is also a regular discipleship group that meets along with a Women's group that have Peaced Together courses running which specifically focus on crafts and help with mental health issues. There is also a Men's group that continues to meet at St Patrick's Hall which help provide help and support for men in the local area to engage with each other and develop opportunities through life skills and a job club in partnership with Christians Against Poverty ICAPI. Seagoe Youth group which is the umbrella organi5ation of Youth provision within the Parish continues to grow and offer a wide range of opportunitie5 for young people within the two youth centres. This provision is vital as it reaches many young people within and outside the parish and 15 an opportunity of outreach also within the local community in order to create a safe and secure environment for the younE people to develop friendships, promote positive peer development, life skills development and faith teaching whilst having the capacity to build on the inclusion of marginalised young people and the integration of young people frorn other countries, ethnicities and cultures.
Seagoe Parish Church Page S Trustees, Annual Report for the year ended 31 December 2023 (continued) The Clergy continue to engage with their counterparts from other denominations for fellowship, outreach, local engagement and a variety of inter-church events within the local area. The group organise various events throughout the year and at specific seasonal times. Other events which are attended by members of the parish are the Bishop's Bible Week, various mission events and quiet days along with social outings. The parish continues to grow and within the groups volunteer leaders along with paid leaders are the vital asset to groups running within the parish and in doing so all leaders and volunteers are provided with and have completed the Safeguarding Trust training that has to be carried out in respect to the Church of Ireland Safeguarding Trust guidelines and that everyone is aware and adhere to them. Financial Review The main source of Income is derived from Free Will Offering contributions. Going Concern The trustees have reviewed the budgets for the year ahead and are satisfied that there are adequate funds in place to ensure that St Gobhan's Parish Church I Seagoe Parish can continue its activities and the financial statements for the year end 31 December 2023 can be signed off as a going concern. Strurture Governance and Mana ement Governing Document and Constitution of the Charity Chapter 111 of the constitution of the Church of Ireland governs Parishes and Parochial organisation. The Select vestry members are the charity trustees. Recruitment and Appointment of Select Vestry All members of the Church of Ireland who are aged 18 or over and are either resident within the parish or live elsewhere but have been accustomed members of the congregation, may register as member5 of the General Vestry of the Parish, allowing them to attend and vote at meetings of the General Vestry and to stand for election to the Select Vestry. Meetings of the General Vestry are held at least once a year. The Select Vestry will hold their p051tions for a period of one year and Select Vestry rnembers may be re-elected annually and there 15 no limit to the number of terms which may be served. Pay and Remuneration The Incumbent and Associate Minister receives a stipend, locomotory and office allowances that are directly paid by the parish in accordance with figures approved by the General Synod of the Church of Ireland. Or anisational Structure The Select Vestry is responsible for the day-to-day management of the Parish. The Select vestry consists of the members of the Clergy serving in the parish, the churchwardens, the glebe wardens and up to a maximum of 12 other members of the General Vestry elected at General Vestry. The Select Vestry is chaired by the Incumbent or other members of the clergy officiating in the Parish. Select Vestry members are responsible for making deci5i0n5 on matter5 of general concern and importance to the parish including deciding how much parish funds are to be applied. The Select Vestry meets at times fixed by members or by the Diocesan Synod. Special meetings may be convened at any tirne by the Chairperson or Churchw3rden5.
Seagoe Parish Church Page 6 Trustees, Annual Report for the year ended 31 Deeember 2023 {continued} Compliance with Public Benefit The parish has given, careful consideration, to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the activities entered into during the years have helped to achieve the Parish's objectives and activities, as well as providing public benefit. MR RODNEY MCCABE HON. TREASURER MR NEIL ROBINSON HON. SECRETARY
Seagoe Parish Church Page 7 Independent Examiner's Report to the Trustees of Seagoe Parish Church I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023 which are set out on pages 8 to 19. Respertive responsibilities of trustees and examiner As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ireland) 2008. It is my responsibility to= examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008; follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65191{bl of the Charities Act,. and state whether particular matters have come to my attention. 8asis of independent examiner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 6519llbl of the Charities Act. My examination included a review of the accounting records kept by the charity and a compari50n of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matter5. My role is to State whether any material matters have come to my attention giving me cause to believe.. l. That accounting records were not kept in accordance with section 63 of the Charities Act 2. That the account5 do not accord with those accounting records 3. That the accounts do not comply with the accounting requirement5 of the Charitie5 Act 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement Since your charity's gross income exceeded £250.000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a registered mernber of Institute of Chartered Accountants in Ireland. which is one of the listed bodies. I have completed my examination and have no concerns in respect of the matters111 to141 listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. BarryTho son Chartered Accountant 76-78 Church Street Portadown BT623EU Date: 30 August 2024
Seagoe Parish Church Page 8 Statement of Financial Activities for the year ended 31 December 2023 Unrestrlrted Funds 2023 Restricted Funds 2023 Endowment Funds 2023 Total 2023 Total 2022 Note Income Donations & legacies Other trading activities Investments Charitable activities Other income 213,120 45 6.367 290 io 50,407 3,205 31,641 758 61.271 263,527 3,250 38,008 1,048 61,281 280,109 3.619 16,993 589 75,303 Total Income 219,832 147,282 367,114 376,613 enditUTe on: Charitable activities Other Total Ex 205,697 29 205,726 87,113 14.769 101,882 292,810 14,798 307,608 262,917 9,931 272,848 enditure Net Income/ (Expenditure) before transfers 14.106 45,400 59,506 103,765 Transfers between funds Net Income/ (Expenditure) before other recognised gains and losses 14,106 45.400 59,506 103,765 Gain/lLoss1 on investments assets 11,9781 11.9271 13,9051 15,6971 Net movement in funds 12,128 43,473 55,601 98,068 Reconciliation of funds: Total funds brought forward 18 75,831 1,116,753 1,192,584 1.094.516 Total funds carried forward 18 87,959 1,160,226 1,248,185 1,192,584
Seagoe Parish Church Page 9 Balance Sheet as at 31 December 2023 Note 2023 2022 Fixed Assets Tangible fixed assets Investments Total fixed assets 12 13 350,000 134.951 484,951 350,000 138,857 488,857 Current assets Debtors Cash and cash equivalents Total current assets 14 40,781 761,958 802,739 44,846 716.454 761,300 Creditors- amounts falling due within one year 15 125.3381 133,4061 Net current assets 777,401 727,894 Total assets less eurrent liabilities 1,262,352 1,216,751 Creditors- amounts falling due after more than one year 114,1671 124,1671 Total net assets 1,248,185 1,192,584 The fund5 of the parish Unrestricted funds General funds Designated funds Total unrestricted funds Restricted Funds Endowment Funds Total charity funds 18 87,958 75,831 87.958 1,160,227 75.831 1,116.753 18 18 1,248.185 1.192,584 The notes on pages 10 to 19 are an integral part of these financial statements. The financial statements on pages 8 to 19 were approved by the Board of Trustees on 30 AuBust 2024 and signed on its behalf by.. Mr Rodney Mccabe (Treasurer) Mr Neil Robinson {Secretary)
Seagoe Parish Church Page 10 Notes to the financial statements for the year ended 31 December 2023 l. Accounting policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. al 8asls of preparation The financial statements have been prepared on a going concern basis in accordance with Accounting and Reporting bv Charities: Statement of Recommended Practice applicable to charities preparinE their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Parish meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unless otherwise stated in the relevant accounting policy notelsl. b) Preparation of accounts on a going concern basis The Parish generally meets its day to day working capital requirement5 from its annual income. The Trustees have obtained and reviewed cash flow forecasts for the coming year and based on these are satisfied that the Parish has resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable future. Therefore. these financial statement5 have been prepared on a going concern basis. c} Income Plate Collections and Weekly Envelopes are accounted for on a cash receipts basis as the amount is collected. Income from government and other grants, whether 'capital' grants or 'revenue' grants. is recognised when the charity has entitlement to the funds. any performance conditions attached to the grants have been met, it is probable that the income will be received. and the amount can be measured reliably and is not deferred. Legacies are included within Income under either unrestricted or restricted funds according to 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. d) Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it 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.
Seagoe Parish Church Page 11 Notes to the flnancial statements for the year ended 31 December 2023 Icontinuedl l. Accounting policies (continued) e) Tangible assets The assets of the Parish comprise- Church Building and Graveyard Parish Centre Glebe House as known as The Rectory Fixtures and fittings The Church Building and Graveyard are deemed to be Heritage assets as defined by the Charities SORP IFRS1021. These Heritage assets are not included on the balance sheet 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 user5 of the accounts and to the parish. The Parish Centre The church hall is physically attached to the church and as such is not separable as an individual asset. Therefore, it is deemed to be a Heritage asset and no value is ascribed to it in the balance sheet as information on the cost or valuation is not available and such information cannot be obtained at a cost comrnensurate with the benefit to the users of the accounts and to the Parish. Additional buildings include the Seagoe old schoolhouse built in 1858 and St Patrick's church hall built in 1957. There are no reliable records of the cost of this acquisition and valuation approach for such a building lacks sufficient reliability. A5 a result, this building is not recognised in the Parish balance sheet. The Grebe House is recognised at cost, being the estimated fair value of the property at 26 January 2020. No depreciation has been provided on the Glebe house as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. Fixtures and Fittings are recognised at C05t and are depreciated on a straight line basis over a period of 5 years. The assets, residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectivelv. Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the new disposal proceeds and the carrying amount 15 recogni5ed in the statement of financial activities and included in 'Other operating (Ios5e5l/gains'. fl Investments Fixed asset investments comprising investment propefties, investments in equities and investment in RCB/CIT Unit Trusts are initially recorded at cost and are then subsequently stated at fair value at each balance sheet date. Investments in unquoted investments are recorded at cost and are assessed annually for impairment. Unrealised gains and I0e5 represent the difference between the fair value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and fair value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the fair value at the start of the year or cost if purchased in the year. Both realised and unrealised gains and losses in investment5 are reported within "Net Gains / (Losses) on Investment5" Wlthin the Statement of Financial Activities.
Seagoe Parish Church Page 12 Notes to the financial statements for the year ended 31 December 2023 {continued) l. Accounting policies (continued) g) Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within Creditors Amounts falling due within l year. h) Flnancial Instruments The Parish only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction price and subsequently measured at their settlement value. i) Funds Funds are classified as either restricted funds or unrestrirted funds, defined as follows. Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the Parish. Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the income there from is used for the purpose defined in accordance with the object5 of the Parish. Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If part5 of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees, discretion to apply the fund. 2. Critical accounting judgements and estimation uncertainty Estimate5 and judgments made in the process of preparing the financial statement5 are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be re350nable under the circurnstances. The Trustees do not consider that there are any critical judgments made in applying the Parish's accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year.
Seagoe Parish Church Page 13 Notes to the flnancial statements for the year ended 31 December 2023 Icontinuedl 3. Donations and legactes Unrestricted Funds 2023 Restricted Funds 2023 Endowment Funds 2023 Total 2023 2022 Plate Collections Weekly envelopes l FWO Tax recovered on Donations Standing Orders Othor Donation5 Church Organisations & Catering Mission Donations Special Collections Other 3,244 85,562 35,851 87,797 666 454 1,841 5,098 11,050 25,161 62 1,050 5.691 3,698 87,403 40,949 98,847 25,827 62 I,oso 5,691 1.961 92,971 45,562 87,036 34,718 4,171 560 12,979 151 280,109 213,120 50,407 263,527 4. Other trading artivities Magazine Income Graveyard Income Other 45 550 2,655 595 2,655 590 2.919 iio 45 3,205 3,250 3,619 5. Investments Dividends received Other Investment income Deposit interest 4,898 1,469 4.898 1,469 31,641 38,008 4.755 1,430 10,808 16,993 31.641 31,641 6,367 6. Charitable activitie5 Income from Parish Organisations Other income 105 185 290 758 863 185 300 289 589 758 1.048 7. Other Income Grants Inet} Seagoe Ministries Solar panels Other income 8,361 49,922 2.988 8,361 49,922 2,988 io 61,281 14.530 52.482 2,715 5,576 75,303 io io 61,271
Seagoe Parish Church Page 14 Notes to the financial statements for the year ended 31 December 2023 Icontinuedl 8. Analysis of Expenditure Unrestricted Funds 2023 Restricted Funds 2023 Endowment Funds 2023 Total 2023 2022 Generating Funds Fundraising costs Charitable Activities Wages and Salaries Diocesan Costs Church Running Costs Glebe Costs Parish Centie Costs Charitable Donations Parish Missions Payments to Parish Organisations Administration Costs Sundry Costs 132.004 16,236 13,064 5,392 13,725 3.632 1,373 1,862 15.654 2,755 205,697 18.449 150,453 16,236 43.866 5,392 18,835 3,632 21,083 10.033 18,936 4,344 292,810 137.495 16,461 15,829 13,390 24,044 1,249 32,297 7,167 14,985 30,802 5,110 19,710 8,171 3.282 1,589 87,113 262,917 Other Costs Seagoe Ministrie5 29 14,769 14,798 9.931 Total Expenditure 205,726 101,882 307,608 272,848
Seagoe Parish Church Page IS Notes to the financial statements for the year ended 31 December 2023 (continued) 9. Gain / (Loss) on Investment Assets 2023 2022 Unrealised fair value gainslllossesl on investments Realised gains/llossesl on investments Total 13,9051 15,6971 13.9051 15,6971 10. Taxation The Seagoe Parish Church is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. 11. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel Employees 2023 2022 Stipends. Salaries and wages National insurance costs Pension costs 121.673 7,757 21,023 150,453 127.403 7,491 19,062 153,956 Total The average number of employees during the year, calculated on the basis of a head count, was as follow5.. 2023 Number 2022 Number Ministerial support Administration Music staff Premises maintenance Catering 13 13 There are no employees in receipt of employee benefits in exce55 of £60,000 Key Monagement and Trustees Included in salaries and wages Rev Canon Terence C3dden and Rev Stuart Moles were in receipt of a stipend15alaryl, locomotory allowance and office allowance. Also, Rev Jim Fleming, Jeanette Carson and Phyllis Richard50n were all in receipt of a Salary.
Seagoe Parish Church Page 16 Notes to the financial statements for the year ended 31 December 2023 {continued) 12. Tangible fixed assets Office Equipment Buildings Total Cost At beginning of the year Additions Disposals At end of the year 350,000 4,926 354,926 350,000 4,926 354,926 Depreciation At beginning of the year Depreciation Disposals At end of the year 4,926 4,926 4,926 4,926 Net book value at end of the year Net book value at beginning of the year 350,000 350,000 350,000 350,000 13. Investments Listed Investments Other Investments Total Balance at beginning of the year Additions during the year Disposals during the year Fair Value gain 1110551 on investments 138,856 138.856 13,9051 13,9051 Balance at end of the year 134,951 134,951 Analysis of Investments 2023 2022 Equity Investments Other Listed Investments Inve5tment5 in RB Unit Trusts 82,210 84,189 52,741 134,951 54,668 138.857
Sea8oe Parish Church Page 17 Notes to the financial statements for the year ended 31 December 2023 (continued) 14. Debtors 2023 2022 Sundry debtors Gift aid 889 39,892 872 43,974 40,781 44,846 15. Creditors Amounts Due wlthin l Year 2023 2022 Accruals and other creditors Deferred income Bank loans and overdrafts 15,338 23,406 10,000 10,000 25.338 33.406 16. Financial instruments The company has the following financial instruments.. 2023 2022 Loans and receivables held at amortised cost Investments Cash and cash equivalents Sundry debtors Other receivables 134.951 761,958 889 39.892 138,587 716,454 872 43,974 937,690 900.157 Financial liabilities measured at amortised cost Bank loans and overdrafts Accruals and other creditors 24.167 15,338 34,167 23,406 39.505 57,573
Seagoe Parish Church Page 18 Notes to the financial statements for the year ended 31 December 2023 (continued) 17. Analysis of Net Assets among Funds General Designated Restricted Endowment Total Fixed Assets Investments Current Assets Current Liabilities Net assets at 31 Dec 2023 350,000 52,741 830.700 142,8931 1,190.548 350.000 134,951 802,739 139,5051 1,248,185 82,210 127,9611 3,388 57,637 18. Funds of the Parish Atljan 2023 Movement in year 2023 At 31 Dec 2023 Restricted funds Bowling Club Fund Cells Fund Edenderry Breakfast Club Fund Flowers Fund General Fund Graveyard Fund HealinE Prayer Group Fund Killicomaine Church Plant Fund Luncheon Club Fund Men'5, Group Missions Fund Parents and Toddler Club Fund Parish Centre Building Fund Rectory Property Fund Restoration Fund Rubies Ladies Group Rwanda Seagoe Mini5trie5 Fund Solar Sunday Light Fund Youth Fellowship Fund 876 1301 876 1301 928 81,686 3,877 188 13.8021 716 313 928 32,688 {3,3421 258 112,0981 114,374 535 446 115.9001 716 342 117,8841 3,196 29 117,8841 {931 3,289 350.000 668,603 12351 350,000 741,213 1,164 72,610 1,399 152 1.489 42 3091 75,787 152 15,734 1833) 12,489) 1,192.540 14,245 18751 12,1801 1,116,753 Unrestrirted funds General Fund 75.831 {20,1861 55,645 Total funds 1,192,584 55,601 1.248,185
Seagoe Parish Church Page 19 Notes to the financial statements for the year ended 31 December 2023 (continued) Pur oses of Restricted Funds Edenderry Breakfast fund= This was a fund to support the work of a Breakfast Club in Edenderry Primary School Flower Fund.. This is a fund used for the decoration of the church with flowers General Restricted Fund- This is a fund which is used for money received and sent which is restricted in use Graveyard Fund= This is a fund to be used for the maintenance of the church ground HPG Fund.. This is a fund to support Sea8oe's Healing Prayer Group which meets to hear from and to pray for those in need of healing or who have been healed Killicomaine Church Plant Fund.. This is a fund to be used for the expenses incurred with Killicomaine Church Plant Luncheon Fund.- This fund is used to operate a luncheon club who hold regular lunch events in the Parish Centre Men's Group Fund- This wa5 a fund to support a group of men, who meet tOEether Rectors, Discretionary Fund.. This is a fund used by the Rector for clergy and organ relief, alleviation of those in poverty and miscellaneous costs Restoration Fund- This is a fund to be used for the maintenance of the church building. Seagoe Ministries Fund.. This is a fund to be used towards the payment of the church salaries and expenses in connection with the hire of church property by outsiders Solar Fund.- Thi5 is income derived from solar panels to pay back their purchase and thereafter subsidise electricitv costs Pur oses of Desi nated Funds Parent and Toddler Fund.. Thi5 fund is used to maintain a Mothers and Toddlers Group in Seagoe Parish Parish Centre Fund= The Trustees have set aside funds for the maintenance of the church property Rwanda Fund.. This is a fund to support the missionary link with Shyogwe Diocese in Rwanda Sunday Light Fund= This is a fund to support the teaching of children on a Sunday and on occasion other days Youth Fellowship Fund.. Thi5 is a fund to support the Youth Fellowship group of teenagers 19. Collection Paid for Third Parties 2023 2022 CMSI Project- Shyogwe Diocese Rwanda Earthquake Appeal Zion collection Princes Trust Coffee morning Bishop's Bike Ride for Missions Christmas Appeal Macmillan Cancer Support Seagoe Primary School Those in Need Ukraine Appeal 375 433 386 428 540 80 1,143 70 227 2,737 5,788 10,420 3,904 5,691 The amounts above have been included in total income for the year under Special Collections and Mi55i0n Donations and in total expenditure for the year under Charitable Donation and Parish Mission5.