Financial Report January- December 2022 Magheragall Parish Church Registered as a charily Wlth thc Charity Commissioii for N()rthern Ireland NIC 101585
Magheragall Parish Church Page I SELEcf VESTRY'S REPORT ON THE FINANCIAL ACCOUNTS The members of the Select Vestry of the Parish of Magheragall present their Report and Financial Accounts for the year ended 31 December 2022 Membership Members of the Select Vestry are elected by the Annual General Vestry. During the year the following people served as members of the the Select Vestry.. Rev. Nicholas Dark Chairman Mrs15may Moore Mr Robert Moore Recto¢s Church Warden People's Church Warden Mr Richard Belshaw Mr Brian Nettle5hip Recto¢s Glebe Warden People's Glebe Warden Elected Members Mrs Yvonne Belshaw Mrs Janice Clarke Mr Sam Greenfield Miss Valerie Harron Mr Robert Harron Mr Neill Heaslip Mrs Kathleen Leathem Mr Brian Nettleship Mrs Elizabeth Park Mr Ronnie Tea8ue Mr Stephen Walker Mr John Williams Appolnted Members Mrs Ismay Moore Mr Richard Belshaw Hon. Secretary to the Vestry Hon. Treasurer Mr Stephen Walker Mr William Leathem Ex- officio Statement of the Select Vest members, res onsibllltles in res ect of the financial statements The Select Vestry has elected to prepare financial statements for the year ended 31 December 2022 which give a true and fair view of the stste of affairs of the Parish and of its income and expenditure for that period. In preparing those financial statements the Select Vestry is responsible for.. selecting suitable accounting policies and applying them consistently making judgements and estimates that are reasonable and prudent preparing the financial statements on the going concern basis The Select Vestry members confirm they have complied with the above requirements in preparing the accounts. The Select Vestry members are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Parish and enable them to ensure that the financial statements comply with the relevant legislation. They are also responsible for safeguarding the assets of the Parish and hence taking steps for the prevention and detection of fraud.
Magheragall Parish Church Page 2 ACCOUNTING POLICIES The accounts are prepared in accordance with applicable accounting standards and in compliance with the Charities Act N.1. Funds General Funds represent the funds of the Select Vestry that are not subject to any restrictions regarding their use and are available for the general purp05e5 of the Select Vestry. Restricted Funds are those generated for a specific purpose. Commited Funds are funds commited for specfic projects. Income Reco nition Collections are recognised when received by or on behalf of the Select Vestry. Planned giving receivable by standing order is recognised when received. Income tax recoverable on gift aid donations are deferred to the following years accounts. Grants and legacies to the Select Vestry are accounted for a5 soon a5 the Select Vestry is notified of the amount due. Taxation The Church's Surplus Income Is not subject to Corporatlon Tax. As the Church cannot reclaim VAT on expenditure, such tax is expended in the income and expenditure account as incurred. The Accounts were approved by the Selert Vestry on 21st March 2023 and signed on its behalf by CLJ Chairperson Rev N J Dark Treasurer William A Leathem
Magheragall Parish Church Independent Examiner'5 Report to the Trustees of Magheragall Parish Church I report on the accounts of the charity for the year ended 31, December 2022 which are set out on pa8e5 6 to 24. Respectlve responslbllltles of trustees and examiner As the charity5 trustee5 you are re5pon51ble for the preparatlon of the accounts in accordance wlth the Charitles Act (Northern I4and) 2008. It is my respon51bility to.. examine the accounts under settion 65 of the Charities Att,. follow the procedures lald down in the general Direttion5 given by the Charity Commisslon for Northern Ireland under section 651911bl of the Charities Act; and state whether partlcular matters have come to my attention. Basls of Independent examiner's report I have examined your charity accounts as required under sertlon 65 of the Charities Act and my examinatlon was carried out in accordance with the general Direction5 given by the Charity Commission for Northern Ireland under sertion 6519llbl of the Charities Act. My examlnation Included a review of the accountlng record5 kept by the charity and a comparison of the accounts presented wlth those record5. It als0 included conslderation of any unusual Items or d15closures in the accounts, and seeklng explanatlon5 from you as charlty trustees concernln8 any such matters. My role Is to state whether any materlal matters have come to my attention givlng me cause to belleve: l. That accounting records were not kept in accordance with sertlon 63 of the Charltles Art 2, That the account5 do not accord with those accounting records 3. That the accounts do not comply wlth the accounting requirements of the Charitie5 Act 4. That there 15 further information needed for a proper understanding of the accourstS to be reached. Independent examlner's statemént I have completed my examination and have no concerns in respett of the matters111 to141 Ilsted above and, in connertion with following the Direttions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. q,LI qCx- C Michael Mccarter FCA Chartered Accountants Iland For and on behalf of Jackson Andrew5 Chartered Accountants & statutory Auditor 6 Mandeville Mews Portadown Co Armagh BT62 3NS
Magheragall Parish Church Page 4 ststement of Financial Activities Period 01/0112022 to 3111212022 Note: Unrestricted Committed Restricted TOTAL FUNDS Funds Funds Funds 2022 2021 Incoming Resources Voluntary Giving Legacies Extraordinary General Income Investment Income General Parish Income Fundraising Events Property Related Income Other Funds Raised 90,670.28 5,462.00 96,132.28 0.00 2,575.45 7,630.18 4,790.00 13,400.24 10,503.95 1,620.92 70,593.20 399,626.88 2616.03 11,750.36 2781.00 1118.50 2010.00 457.01 1000.00 6.092.49 1375.45 200.00 1,537.69 4,790.00 6,447.24 120.00 1,620.92 6,953.00 10,383.95 Total Incoming Resources 115.099.72 1,375.45 20,177.85 136.653.02 490,952.98 Resources Expended Legacies Repairs and Upkeep Staffing Cost5 Heat Light & Power Diocesan Levies General Parochial Overheads Parochial Ministry Overheads Financial and Professional Costs Fundraising Costs Donations to Charities & Missions Property Expenses -51,897.82 -5,728.05 -51,897.82 -10,431.48 -57,911.46 -17,988.67 -9,693.09 -13.577.31 -1,450.61 -778.90 -4,831.85 -6.612.43 4,401.70 -1,640.73 -30,138.43 -53,874.44 -5,882.48 -9,689.44 -11,758.03 -1.544.35 -720.03 io -4,438.43 11 -57,911.46 12 -17,988.67 13 -9,693.09 14 -9,230.31 15 -318.17 16 -778.90 17 -790.59 18 4,867.30 19 -4,401.70 -265.00 -4,347.00 -1,132.44 -4,041.26 -1,745.13 -11.263.56 -11,227.98 Total resources Expended -110,418.62 -265.00 -68,891.70 -179,575.32 -137,739.47 Net Income l Resources Expended Gross Transfers between Funds" In, Gross Transfers between Funds" Out, Balance Brought Forward - l Jan 2022 4,681.10 120.00 -1181.70 9.176.46 1,110.45 1,000.00 0.00 4,224.61 -48,713.85 -42,922.30 1,181.70 2.301.70 -1120.00 -2,301.70 459,750.06 473,151.13 353,213.51 4,774.61 -4,774.61 119,937.62 Balance Carried Forward 31 Dec 2022 12,795.86 6.335.06 411,097.91 430,228.83 473,151.13
X 8 8 51 1 8 8 8
Magheragall Parish Church Page 6 Statement of Financial Activities Period 0110112022 to 3111212022 INCOMING RESOURCES Unrestricted Funds Committed Restricted Funds TOTAL FUNDS 2021 2022 VOLUNTARY GIVING Weekly Envelopes Annual Donations Other General Donations Loose Collections Standin8 Orders Includin8 FWO/Gift DaylHarvest Gift Day Gift Aid - Tax Recovered - regular giving Oonations Appeals etc Donations for Specific Purposes Monthly Giving - RestorationlDonations Harvest 46.968.77 1,750.00 3,171.00 1,170.02 12.660.00 1,446.00 16,882.69 462.50 4,867.30 46,968.77 1.750.00 3,171.00 1,170.02 12,660.00 1.446.00 16,882.69 462.50 4,917.30 5,412.00 1,292.00 96,132.28 45,720.30 950.00 3,245.23 199.67 11,147.00 1,479.00 0.00 456.00 154.00 4,685.00 2,557.00 70,593.20 50.00 5412.00 1,292.00 90,670.28 TOTAL 0.00 5,462.00 LEGACIES Legacies 0.00 399,626.88 TOTAL 0.00 0.00 0.00 0.00 399,626.88 EXTRAORDINARY GENERAL INCOME Recurring One off Grants Insurance Claim (Hall Porch) Committed Income 1,000.00 200.00 1,200.00 0.00 1,375.45 2,575.45 0.00 2,000.00 0.00 1,375.45 1,375.45 TOTAL 1,000.00 200.00 2,000.00 INVESTMENT INCOME Bank Interest Other Investment Income 957.51 5134.98 6,092.49 957.51 6,672.67 7,630.18 94.68 11,655.68 11,750.36 1,537.69 1,537.69 TOTAL 0.00 5. GENERAL PARISH INCOME Magazine Advertisin8 Magazine Donations Fees For Weddings Graveyard Fees Graveyard Donations 360.00 1150.00 0.00 3.240.00 40.00 360.00 1,150.00 0.00 3,240.00 40.00 160.00 471.00 2,120.00 30.00 2781.00 TOTAL 0.00 0.00 4790.00 4790.00 6. FUNDRAISING EVENTS Catering Events Vintage Fair Other Fundraislng Events 2,250.00 2,250.00 5,947.24 5.203.00 13,400.24 5947.24 500.00 4.703.00 6,953.00 1,118.50 1,118.50 TOTAL 0.00 6,447.24
Magheragall Parish Church Page 7 ststement of Financial Activities Period 01/0112022 to 3111212022 Unrestricted Funds 1600.00 1181.75 7602.20 10,383.95 Committed Funds Restrlrted Funds Total Funds 2022 1600.00 1301.75 7602.20 10,503.95 2,010.00 7. Property Related Income Rent From Land Church Hall Donations for Heat and Light Bunglow Income 20ZI 1600.00 410.00 120.00 TOTAL 120.00 8. Other Funds Ralsed CMS Ireland- Boxes Leprosy Mission Sunday School Collection Sunday Cool Collections 17.00 50.00 1008.92 545.00 1620.92 17.00 50.00 1008.92 545.00 loo.00 357.01 TOTAL 0.00 1620.92 457.01 RESOURCES EXPENDED Unrestrlcted Funds Commltted Funds Restrlcted Funds Total Fund5 2022 2021 9. Legacles Legacies Expenses -51897.82 -51897.82 -1640.73 TOTAL 0.00 0.00 -51,897.82 -51,897.82 -1,640.73 10. Repalrs and Upkeep Cleaning Church and Hall Church Repairs & Maintenance Church Decoration Hall Repalrs & Maintenance Health & Safety Annual Testing Rectory Repairs And Maintenance committed expenditure -3,834.63 -3834.63 -3924.26 -416.40 -786.25 0.00 -30.00 -457.20 -22111.74 -603.80 -753.93 -4854.45 -2532.25 -265.00 -5,728.05 -10,431.48 -30,138.43 -416.40 -457.20 -603.80 -4,854.45 -265.00 -265.00 TOTAL -4,438.43
Magheragall Parish Church Page 8 Statement of Financial Activities Period 01/0112022 to 31/1212022 Unrestricted Committed Restricted Funds Funds Funds 2022 2021 11. Staffing Costs Clergy Stipend Office Allowance Locomotory Allowance Diocesan Levy Clergy Pension Holiday Cover Rector Visiting Preachers Organist Salary Holiday Cover Organist H M Revenue Payments -30,199.96 -800.00 -5,988.84 -9,651.62 -150.00 -40.00 -1,850.00 -300.00 -8,931,04 -30,199.96 -29,419.46 -800.00 -800.00 -5,988.84 -5,988.90 -9,651.62 -9,662.40 -150.00 -30.00 -40.00 -40.00 -1,850.00 0.00 -300.00 0.00 -8,931.04 -7,933.68 TOTAL -57,911.46 0.00 0.00 -57,911.46 -53,874.44 12. Heat Light & Power Hall Heating Oil Rectory Heating Oil Church Light & power Hall light And Power -1577.00 -2,134.00 -12.964.00 -1,313.67 -17.988.67 -1,577.00 -797.72 -2,134.00 -1480.01 -12,964.00 -2576.00 -1,313.67 -1028.75 0.00 -17.988.67 -5,882.48 TOTAL 0.00 13. Diocesan Levies Diocesan Levies- Standard Diocesan Levies- Safeguarding Trust -9,628.18 -64.91 -9,693.09 -9,628.18 -9,629.16 -64.91 -60.28 0.00 -9,693.09 -9,689.44 14. General Parochlal Overheads Insurance Office Stationery Office Photocopier- Maintenance Magazine costs- Graveyard Sundry Costs Other Expenses IT Hardware/Software Grant Payees Internal -5,820.17 -543.30 -304.84 -5,820.17 -3,612.73 -543.30 -854.82 -875.59 -2,128.95 -620.25 -721.53 -4,458.00 -3,950.00 -460.00 -190.00 0.00 -300.00 -800.00 0.00 -4,347.00 -13,577.31 -11.758.03 -570.75 -620.25 -3,106.00 -50.00 -1352.(M) -410.00 -800.00 -9,230.31 TOTAL
Magheragall Parish Church Page 9 Statement of Financial Activities Period 0110112022 to 3111212022 Unrestricted Funds Committed Funds Restricted Funds TOTAL FUNDS 2022 2021 15. Parochial Ministry Overheads Worship related costs Clergylstaff Trainin8 Communion Wine Sunday School Activities Sunday Cool Expences -318.17 -318.17 0.00 0.00 0.00 -1,132.44 -1,450.61 -1,440.55 0.00 0.00 -103.80 0.00 -1,132.44 -1,132.44 TOTAL -318.17 0.00 -1,544.35 16. Flnance and Professlonal Costs Audit & Accountacy Bank Fees & Charges -380.00 -398.90 -778.90 -380.00 -398.90 -778.90 -384.00 -336.03 -720.03 TOTAL 0.00 0.00 17. Fundralslng Costs Caterin8 Events Vinta8e Fair Other Fund Raising C05ts1Car Parkl -290.59 -290.59 -4,041.26 -500.00 -4,831.85 0.00 0.00 0.00 0.00 -4,041.26 -500.00 -790.59 TOTAL 0.00 -4,041.26 18. Donatlons To Charltles And Mlsslons CMS Ifeland Leprosy Mission Distribution of Special Collections Church Tithe Donation5 and Appeals Sunday School Collections -17.00 -50.00 -50.00 -17.00 -50.00 -4,917.30 0.00 0.00 -1,628.13 -6,612.43 -317.20 -36.36 -154.00 -10300.00 -456.00 .4867.30 -1628.13 -1,745.13 TOTAL -4,867.30 0.00 -11,263.56 19.Property Expenses Rectory Rates Bun8alow Maintenance Water Rates .1,332.57 -2,927.40 -141.73 -4,401.70 -1,332.57 -2,927.40 -141.73 -4,401.70 -1198.46 -9896.82 -132.70 -11,227.98 TOTAL 0.00 0.00
Magheragall Parish Church Page 10 VOLUNTARY GIVING Two years Gift Aid recorded due to HMRG Payment received late for 2020 Period ending 31 December 2022 FWO Gift Da Harvest No Rest. Gift aid 263.75 No 52 53 54 55 56 57 58 60 62 63 65 66 68 69 71 72 73 74 75 77 78 79 81 82 83 84 85 86 87 88 89 91 92 93 95 96 97 98 FWO 90.00 260.00 Gift Da Harvest Rest. Gift aid 40.00 3.00 280.00 141.65 12.00 200.00 196.00 53.00 10.00 20.00 135.00 3.75 105.00 192.50 70.00 180.00 300.00 240.00 loo.00 loo.00 105.00 140.00 420.00 loo.00 10.00 80.00 440.00 166.50 1250.00 520.00 265.00 20.00 260.00 780.00 104.00 300.00 80.00 1608.00 780.00 300.00 200.00 85.00 80.00 315.00 60.00 112.00 15.00 245.00 115.00 260.00 20.00 10.00 10.00 120.00 80.00 10.00 io li 12 2.50 115.00 325.00 50.00 270.00 220.00 550.00 loo.00 iio.00 520.00 460.00 190.00 200.00 260.00 80.00 50.00 500.00 200.00 90.00 290.00 loo.00 240.00 80.00 205.00 50.00 1540.00 252.00 iooo.00 392.62 260.00 280.00 40.00 10.00 20.00 20.00 13 14 5.00 70.00 185.00 10.00 10.00 15 16 17 18 19 20 22 23 24 25 26 28 30 32 33 37 38 39 40 41 42 43 44 45 48 49 50 51 265.00 10.00 10.00 5.00 5.00 5.00 40.00 90.00 95.00 153.75 10.00 5.00 23.75 325.00 218.75 65.00 40.00 10.00 20.00 40.00 10.00 180.00 20.00 20.00 120.00 20.00 203.75 75.00 10.00 15.00 2.00 10.00 15.00 2.00 60.00 180.00 87.50 860.88 577,50 140.00 250.00 240.00 25.00 162.50 10.00 10.00 60.00 10.00 5.00 65.00 10.00 20.00 120.00 10.00 iio.00 217.50 32.50 230.00 5.00 230.00 5.00 iooo.00 10.00 10.00 10.00 10.00 10.00 10.00 iio.00 10.00 10.00 5.00 25.00 90.00 120.00 85.00 30.00 10.00 364.00 200.00 99 loo ioi 60.00 380.00 555.00 20.00 253.75 257.50 40.00 20.00 138.75 238.75 20.00 130.(J)
Magheragall Parish Church Page 11 VOLUNTARY GIVING Two years Gift Aid recorded due to HMRC Payment received late for 2020 31 December 2022 Period endin Glft Day Harvest Rest. Gift aid FWO Gift Dav Harvest Rest. Gift aid 250.00 60.00 785.00 540.00 300.00 500.00 60.00 50.00 loo.00 260.00 185.00 205.00 200.00 280.00 20.00 106 107 109 iio 112 113 114 116 117 118 119 120 121 122 123 124 125 126 127 240.00 70.00 1180.00 200.00 350.00 260.00 130.00 10.00 10.00 158 161 162 163 164 167 168 169 171 172 173 174 176 177 178 179 181 183 184 185 186 187 188 189 190 191 192 193 194 195 197 198 204 142 159 160 60.00 12.00 10.00 10.00 iio.00 10.00 250.00 loo.00 5.00 10.00 60.00 10.00 62.50 40.00 425.00 50.00 105.00 550.00 300.00 260.00 270.00 20.00 10.00 130.00 20.00 10.00 20.00 10.00 20.00 120.00 220.00 60.00 20.00 408.75 160.00 20.00 15.00 20.00 20.00 145.00 6.25 128.75 10.00 5.00 121.25 83.75 275.00 loo.00 230.00 825.00 5.00 65.00 260.00 300.00 335.00 200.00 540.00 60.00 500.00 290.00 920.00 300.00 265.00 140.00 56.00 215.00 250.00 iio.00 2380.00 240.00 290.00 130.00 260.00 200.00 90.00 515.00 iooo.00 520.00 300.00 1040.00 10.00 208.00 2160.00 loo.00 loo.00 240.00 120.00 305.00 105.00 260.00 185.00 2.00 5.00 12.00 40.00 5.00 10,00 5.00 55.00 128 130 131 132 134 135 136 137 17.50 40.00 10.00 20.00 280.00 10.00 240.00 300.00 150.00 183.78 238.75 20.00 5.00 130.00 20.00 10.00 50.00 243.75 138 139 140 143 265.00 560.00 120.00 120.00 loo.00 240.00 10.00 40.00 20.00 20.00 10.00 120.00 575.00 225.00 10.00 30.00 10.00 247.50 144 147 148 149 150 151 152 153 154 155 156 157 5.00 188.75 153.75 15.00 120.00 5.00 200.00 10.00 10.00 126.50 1415.00 68.75 200.00 10.00 10.00 240.00 loo.00 loo.00 5.00 25.00 30.00 120.00 5.00
Magheragall Parish Church Page 12 VOLUNTARY GIVING BY STANDING ORDER AND ANNUAL DONATIONS years Gift Aid recorded due to HMRC Payment received late for 2020 Period ending 31 December 2022 FWO Harvest Gift Day Rest. 300.00 No soi S02 S03 S04 S05 S06 S07 S08 S09 solo soil S012 S013 S014 S015 S016 S017 S018 S019 S020 S021 S022 S023 5024 S025 S026 S027 S028 S029 Glft aid No S030 S031 S032 S033 S034 S035 S036 S037 S038 5039 S042 S044 S045 S046 FWO Harvest Glft Day Rest. Gift aid 360.00 240.00 300.00 51.00 120.00 880.00 300.00 40.00 40.00 220.00 240.00 240.00 240.00 360.00 240.00 240.00 120.00 92.50 480.00 480.00 10.00 180.00 120.00 1300.00 480.00 120.00 350.00 240.00 loo.00 300.00 650.00 252.50 220.00 180.00 80.00 20.00 5047 5048 240.00 600.00 450.00 S049 S040 ADOI AD02 AD03 AD06 AD07 AD08 AD09 ADOIO ADOII AD012 AD013 30.00 240.00 40.00 200.00 loo.00 500.00 300.00 loo.00 200.00 loo.00 150.00 ioo.iJ) 250.00 360.00 520.00 520.00 360.00 520.00 360.00 360.00 240.00 10.00 10.00 10.00 10.00 228.50 40.00 40.00 250.00 90.00 125.00 50.00
Magheragall Parish Church Page 13 ORGANISATION'S ACCOUNTS Magheragall Parish Ramblers INCOME Balance in bank at l January 2022 Membership Fees inc donation Donation for BBQ Accounts forthe period 1st January to 31 December 2022 EXPENDITURE 134.72 Donation to Magheragall Parish Church 210.00 BBQ Costs for meat and charcoal 20.00 150.00 128.31 Balance at Bank on 31 December 2022 86.41 364.72 364.72 Maghera8all Mothers Union INCOME Balance in bank at l January 2022 Subscriptions Mind Matters Grant Private Donation Bring & Buy Sale Accounts for the period 1st January to 31 December 2022 EXPENDITURE 230.84 Members Subscriptions to MU 475.00 Reinbursents expences 100.00 Farmer Poet 25.00 Womans Aid 196.90 Hospital Chaplian Closing Balance at 31st December 2022 460.00 28.00 25.00 25.00 25.00 464.74 1,027.74 1,027.74 Ma8heragall Seniors & Friendship Club INCOME Accounts for the period 1st January to 31 December 2022 EXPENOITURE 326.45 Caterin8 Costs 118.50 Group Activity 132.64 Luncheon costs 7.92 Bank charges 380.80 Christmas gifts 50.00 100.00 Cash in Hand on 31st December 2022 16.00 Balance at Bank on 31 December 2022 1,132.31 In 2022 the Friendship and Seniors/ Lunch club amalamated into one group Balance In bank at l January 2022 lor Irlenéshlp Cash in hand frienship group Balance at Bank at 1st Jan 2022 Senlor5 group Misc Cash from Seniors group members subs Donation Mind Matters Grant Bank Charges refund 62.08 108.08 386.10 32.00 115.00 18.60 410.45 1,132.31
Magheragall Parish Church Page 14 Magheragall Parish Bowling Club INCOME Balance in bank at 1st September 2021 Cash in Hand 1st September 2021 Accounts for the period 1st Sept 2021 to 31 March 2022 EXPENDITURE 1264.04 No Bowls held Balance in Bank at 31 March 2022 Cash in hand on 31 March 2022 1264.04 0.00 1,264.04 1,264.04 Magheragall Friendship Group Accounts for the period 1st Jan to 31 Dec 2022 INCOME EXPENDITURE * In 2022 the Friendship and Seniors/ Lunch club amalamated into one group see page 13 Magheragall Craft Group INCOME Accounts for the period 1st April 2021 to 31st March 2022 EXPENDITURE Balance in bank at l April 2021 Cash in hand 1st April 2021 Weekly Sub5 R Orr use of hall by Flower class 175.91 Ma8hera8all Parlsh Church Use of Hall by Flower 8roup 23.68 84.00 620.00 620.00 Cash in hand 31 March 2022 Balance at Bank on 31 March 2022 107.68 175.91 903.59 903.59 Ma8heragall Toddler Group INCOME Balance in bank at l Jan 2022 Bank Intrest Accounts for the period 1st Jan 2022 31 Dec 2022 EXPENDITURE 875.37 Account closed and moved 0.08 to committed fund with in Church accounts 874.45 Balance at Bank on 31 December 2022 0.00 875.45 874.45 CL & CGB Nl Headquarters has £632.18 held in trust for a new company at Magheragall.