MAGHERALLY PARISH CHURCH CHARITY NO 101673 ACCOUNTS FOR THE YEAR ENDED MAGHERALLY PARISH CHURCH - Chari Recei ts and Pa ments Accoun 31 Dec No 101673 mber 2025 (Unrestrlcted (Restrlcted)(Unrestrlcted) General Property Deposit Fund Fund Fund 2025 2024 Recelpts FWO (71) Gift Aid Plate collections Ministry Fund Harvest Gift Day Special Events, Missions and Charities Church Events DonationslBequeathed Income from propertyllandlhirelgraveyard Diocese of Down & Dromore RCB Rejuvenation Grant & Distribution Borough Council FAP Grant Annaclone Cont to Stipend Bank Interest £72,478 £18,949 £5,029 £875 £1,540 £5,255 £5,532 £10,735 £330 £4,998 £35 £12,790 £1,OT7 £73,555 £18,949 £5,029 £875 £1,540 £5,255 £5,532 £10,735 £330 £5,651 £35 £12,790 £10,417 £7,785 £1,079 £62,647 £17,302 £4,299 £1,795 £4,596 £5,289 £9,752 £326 £7,113 £0 £0 £9,417 £8,989 £743 £653 £0 £10,417 £7,785 £335 £44 £700 Sub Total: Recelpts £146,666 £12,191 £700 £159,557 £132,268 Payments StipendlLocolCPFIPAYEINIC Diocesan General Fund Musicians & Preachers Insurance Special Events, Missions and Charities Property maintenance & repairs Light, Heat & Water Rates Stationery General expenses Professional Fees Bank fees £62,059 £15,917 £50 £2,811 £9,865 £3,649 £8,426 £62,059 £15,917 £50 £2,811 £9,865 £5,749 £8,426 £0 £320 £1,181 £700 £204 £57,682 £4,980 £240 £2,736 £5,289 £86,354 £9,307 £1,545 £984 £1.616 £2,100 £320 £1,181 £700 £170 £34 £177 Sub Total: Payments £105,148 £2,134 £0 £107,282 £170,910 Net Recelpts over Payments Before Transfers £41,518 £10,057 £700 £52,274 -£38,641 Transfers between funds £1,000 -£1,000 £0 £0 £0 Balance at 1st January 2025 £115,115 £14,785 £50,472 £180,373 £219,014 Balance at 31st December 2025 Page 3 Magherally Parish Church Notes to the Financial Statements For The Year Ended 31st December 2025 Statemenl of Assets & Liabilities as at 31st December 2025 Unrestricted Funds 2025 Restricted Funds 2025 Endowment Funds 202S Total 2025 Total 2024 Cash Funds Curreiit Accouiits 157,633 23,842 181,475 129,901 Deposit Accounts 51,172 51,172 50,472 Total Cash Funds 208,805 23,842 232,647 180,373 Assets retained for the Parish's own use Parish H311 Rectorv Lands 699,705 527,193 100,000 699,705 527,193 100,000 699,705 527,193 100,000 Total Assets retained for the Parish's own use 1,326,898 1,326,898 1,326,898 Declaration: We approve of these accounts and confirm that we have made available all relevant records and information for their preparation. Signed.... Rev K Salmon Signed............... Hon. Treasurer Karen Hamilton Date......... 10]b126 Page 4 Magherally Parlsh Church Notes to the Flnanclal Statements ForThe Year Ended 31st December 2025 Accountlng Pollcles: Set out below are the princlpal accounting pollcies which have been adopted In the compilation of the Receipts and Payments Account and the Statement of Assets and Llabllities. (a) Recelpts and Payments Account All Items of income and expendlture included withln the Receipts and Payments Account have been accounted for on a cash receipts basis. (b) Statement of Assets and Llabllitles (l) Assets retalned for the Parlsh's own use The assets of the Parish retained for its own use comprise:. Church Building and Graveyard Parish Hall Rectory Lands The Church Building and Graveyard are deemed to be Heritage assets 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. (This will be the most common accounting policy, where the church is not deemed to be a heritage asset specific advice will need to be taken). The Parish Hall etc are ascribed a value based on the insurance valuation. No depreciation has been provided on the Parish Hall as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. The minimum threshold of cost for an item to be considered to be capitalised as a fixed asset is not less than £lOOO.00. Reconciliation of Cash Funds Total Cash Funds at the beglnning of the year: 180,373 Receipts for the year Payments for the year 159,556 ~107,282 Total Cash Funds at the end of year 232,647 Page 5 Magherally Parlsh Church Notes to the Flnanclal Statements For The Year Ended 31st December 2025 Movement In Funds At 1st Jan 2025 Incomlng Resources Outgolng Resources At 31st Dec 2025 Transfers Endowment Funds Totals Restricted Funds Property Fund 14,785 12,191 -2,134 -1,000 23,842 Totsls 14,785 12,191 -2,134 23,842 Unrestrirted Funds General Fund Danske Investment Fund 115,115 50,472 146,666 700 -105,148 1,000 157,633 51,172 Totals 165587 147,366 -105,148 208,805 Total Funds 180,372 159,557 -107,282 232,647 Pur ose of Restricted Funds Pur ose of Unrestrlcted Funds General Funds . These funds are for the general running of the church, to provide a stipend to the Rector, etc. Deposit Funds . These funds assist the general funds and any church developments etc. Page 6 Magherally Parlsh Church Notes to the Flnanclal Statements For The Year Ended 31st December 2025 Ladies Guild. One other account operated during the year as detailed below: Ladles Guild Balance as at 1st January 2025 8,488 Income 2,902 Expenditure -1,430 Balance as at 31st December 2025 9,960 Transactions with the Trustees No trustee received any remuneration or reimbursement of expenses during the year. Govemance Costs Goverance costs incurred during the year amounted to £700, being payment to independent examiner D Topley & Co Ltd. Page 7