Annual Accounts for year ending 31[st] December 2024
Hillsborough Parish Church Charity No XN47278 NI Charity Commission No NIC101674
Hillsborough Parish Church. Charity Commission of Northern Ireland No. 101674 Annual accounts for year ending 31[st] December 2024
Statement of Financial Activity for year ending 31[st] December 2024
*The notes on pages 4 to 10 form part of these financial statements
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Hillsborough Parish Church. Charity Commission of Northern Ireland No. 101674 Annual accounts for year ending 31[st] December 2024
Balance Sheet at 31[st] December 2024
The financial statements were approved by the Board of Trustees and authorised for issue on 25th April 2025 and were signed on its behalf by:
Revd Canon Dr Bryan A Follis – Trustee
Dr Margaret P Scott – Trustee
The notes on pages 4 to 10 form part of these financial statements
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Hillsborough Parish Church. Charity Commission of Northern Ireland No. 101674 Annual accounts for year ending 31[st] December 2024
Cash Flow Statement for year ending 31[st] December 2024
The notes on pages 4 to 10 form part of these financial statements
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Hillsborough Parish Church. Charity Commission of Northern Ireland No. 101674 Annual accounts for year ending 31[st] December 2024 Notes to the accounts
Note (1) Accounting Policies
The Financial Statements have been prepared in accordance with the Charity SORP FRS 102. The financial statements have been prepared on the accruals basis and on the basis of historical cost.
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Restricted and Unrestricted funds. All funds are treated as unrestricted with the following exceptions:
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Specific donations to the Organ Fund and John Cochrane Mission Fund
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Specific donations made to Church Funds for onward distribution to specific charities
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Rector’s Discretionary Fund, Youth and Family weekend fund
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Reserves policy. The Trustees are operating a Reserves policy whereby unrestricted funds held by the charity will cover ten weeks of unrestricted resources expended. For this purpose, unrestricted funds exclude fixed assets and unrestricted resources expended excludes depreciation. The Trustees believe that this level of reserves would be sufficient to continue operating the charity should there be a significant drop in funding. As at the end of December 2024, unrestricted funds covered 16 weeks of unrestricted resources expended and exceed the policy above by 6 weeks.
• Accounting for Income.
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Donations are booked to income statement based on the date received.
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Gift aid associated with income is accrued based on the period to which it relates.
• Tangible fixed assets.
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Heritage Assets: The following assets are treated as Heritage assets in line with the guidance of the SORP.
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Church land and building and contents including the two organs
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Parish Room
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Maginess Room
The original value of these assets is not valued or depreciated in the financial statements. However new investments in these assets post 2013 which increase the life of the assets have been capitalised.
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Assets to the value of less than £1,000 are not capitalised but are written off in the year of purchase, while all remaining assets are capitalised and included in the Balance Sheet.
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Depreciation has been calculated using the straight-line method based on the following asset lives:
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Buildings 50 years
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Plant 10 years
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Fixtures & Fittings 10 years
• Going Concern. These accounts have been prepared on a “Going Concern” basis and there are no material uncertainties related to events or conditions that cast significant doubt on the charity’s ability to continue as a going concern.
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Hillsborough Parish Church. Charity Commission of Northern Ireland No. 101674 Annual accounts for year ending 31[st] December 2024
Note (2) Incoming Resources
YFW: Youth & Family weekends RT: Romania Trip RDF: Rector’s Discretionary Fund JCMF: John Cochrane Mission Fund OF: Organ Fund
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Hillsborough Parish Church. Charity Commission of Northern Ireland No. 101674 Annual accounts for year ending 31[st] December 2024 Note (3) Resources Expended
YFW: Youth & Family weekends RT: Romania Trip RDF: Rector’s Discretionary Fund JCMF: John Cochrane Mission Fund OF: Organ Fund
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Hillsborough Parish Church. Charity Commission of Northern Ireland No. 101674 Annual accounts for year ending 31[st] December 2024 Note (4) Outgoing Charitable Donations
Note (5) Reconcilation of Tangible Fixed Assets
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Hillsborough Parish Church. Charity Commission of Northern Ireland No. 101674 Annual accounts for year ending 31[st] December 2024
Note (6) Debtors & Creditors
Note (7) Reconciliation of Funds
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Hillsborough Parish Church. Charity Commission of Northern Ireland No. 101674 Annual accounts for year ending 31[st] December 2024 Note (8) Cash and Cash Equivalents
Note (9) Investments
| Investments at : 31stDecember 2024 31stDecember 2023 | Investments at : 31stDecember 2024 31stDecember 2023 |
|---|---|
| £ £ | |
| | RB General Unit Trust 9,106 8,940 |
Note (10) Related Party Transactions
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Trustees’ remuneration and benefits
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Only one trustee received remuneration in 2024 and 2023 for services provided to the Parish.
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The total cost incurred:
| 2024 2023 | ||
|---|---|---|
| £ £ | ||
| | Stipend | 43,328 41,304 |
| | Locomotory allowance | 7,000 7,000 |
| | Expenses of office | 800 800 |
| | Pension | 10,692 11,277 |
| | Other | 3,332 0 Heating allowance 2021/22 – 2023/24 |
| | Employers NI | 5,719 5,232 |
| | Total Cost |
70,871 65,613 |
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Trustees’ expenses
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Four trustees have claimed expenses during the period, which relate to repayment of costs incurred in support of Church activities.
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The total cost incurred was £13,173 (2023: £6,381)
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Hillsborough Parish Church. Charity Commission of Northern Ireland No. 101674 Annual accounts for year ending 31[st] December 2024
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Trustees’ other
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One trustee received £110 re refund of deposit for Youth weekend, while three trustees received a total of £61 re refund for cancelled Seniors’ bus trip. (2023: £5)
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The son of a trustee received £250 travel bursary. (2023: £0)
Independent Examiner’s remuneration
- No payment was received by the Independent Examiner reviewing these accounts.
There were no other related party transactions during the year that required disclosure.
Note (11) Staff Costs
- No employee received benefits (excluding pension) of more than £60k in either 2024 or 2023.
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