CHARITY REGISTRATION NUMBER: NIC 101753 ST PAUL'S PARISH CHURCH- GILFORD TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
St Paul's Parish Church - Gilford CONTENTS PAGE Reference and Administrative Details Trustees, Annu31 Report Independent Examiner's Report Receipts and Payments Account Statement of Assets and Liabilities 10 Notes to the Financial Statements 11-15 Page 2
St Paul's Parish Church - Gilford Reference and Reference and Administrative Details Year Ended 31 December 2023 Chairman Rev. Denise Caddoo Hon. Secretary Dr Joanne Weir Hon. Treasurer Mr Clive Serplus Parochial Nominators Mr William McKeown Mr David Francey Select Vestry Mrs Grace Mccart Mr David Francey Mr Clifford John McBurney Mr William McKeown Mrs Marion Davidson Mr Clive Serplus Rev Denise Caddoo Mrs Judith Vivine McBurney Mrjohn Henry Denni50n Mr lan Mccart Mr Colin McElroy Mr Robert Somerville Drjoanne Weir Dr Alex Lyons IAppointed 25 April 2024} Contact Address The Vicarage 18 ScaNa Road Gilford Co Down BT63 6BG Independent Examiner Kennedy & Co Chartered Certified Accountants & Registered Auditors 21 Kilmorey Street Newry Co. Down BT34 2 DF Bankers Danske Bank Ltd PO Box 183 Donegall Square West Belfast, Co Antrim BTI 6JS Page 3
St Paul's Parish Church - Gilford Trustees, Annual Report Year Ended 31 December 2023 The trustees present their annual report together with the independently examined financial statements consisting of the Statement of financial activities and the statement of Assets and Liabilities for St Paul's Parish Church Gilford for the year ended 31 December 2023. Objectives and Activities The main Charitable purpose of the Church of Ireland is for the advancement of Religion. The principle function of St Paul's Parish Church is to support the advancement of the Christian faith by promoting through the work of the Vicar, Select Vestry and its parishioners the whole mission of the ¢hur¢h, Pastoral, Evangelistic, Social and Ecumenical. A caring Church supporting the needs of the Community since 1869 the church has continued to be open and engaging with the community and offering support for those needing help which is fundamental to the practical benefits of Christianity. As a result of activity in pursuit of the advancement of the Christian Faith, St Paul's Parish Church has ustody of property, records, materials and artifacts of significance to the cultural and religious heritage of the community. Maintenance is undertaken by the Select Vestry of St Pauls Parish Church. Achievements, Perforniance and Public Benefit St Pauls Parish Church has weekly services on Sunday mornings at 11:30am and an additional early morning Con]munion Service at 9..30am once monthly. All services comprise of a mixture of Morning Prayer, Holy Communion, Famiky Service, BaptÈsm together with other special services during the year comprising of but not limited to Lenten Services, Holy Week, Harvest Thanksgiving and Christmas Services. Pastoral Carc is also provided by the Vicar with regular home, hospital and care home visits. The Vicar of St Paul's Parish sits on the Board of Governors of Gilford Primary School and supports and encourages the work of the school to maintain good standards and practices both academically and through the advancement of Religion. The Vtcar attends and conducts regular services within the school. Page 4
St Paul's Parish Church - Gilford Trustees, Annual Report Year Ended 31 December 2023 Financial review Tl)e principle source of Income to Si Paul's Parish Cliiircli continLies to be froni Fite Will Offering Doiiaiions and loose plate collections. Gift Aid incoine is also derived froin the above source of income. The principle expense of St Paul's Parish Cliurch is in respect of Vicars Stipend, Diocesan Pension and Costs as lvell as Church maintenance expenses. St Paul's Parish Church had a deficit of payments outweighing receipts by £1,496 foi. the year ended J l December 202). Essential repairs to the Church, Church Hall and Vicaratre are iioted in the Parish report and have attributed to the decline in total casli funds from the repair and development fund account. RCB investment income of £15,497 is restricted solely for use for the Vtcais Stipend. Funds reserved in Ulster Bank Accounts are restricted for use agaiiist essential niaintenance and development costs to the parish. St Paul's Church continue5 to be in a healthy financial position as at ) l December 2023 with total cash funds of £41,068. St Paul's Church aims to retain sufticient reserves to meet it5 expected future expenditure requirements as well as potential future capital projects. The Hall Project for the replacement of the Hall Roof and Internal Redeveloprnent conimenced in May 2021 and was completed in May 2022. We received an advance of £50,000 by way of on-goin(y credit facility from Stramore Credit Union with monthly interest of Bank of England base plus 3.90/9 capped at 60/0. Loan balance as at 31 December 20J was reduced to £37.785.04. Funds totallintr £?9,604.44 (£14,604.44 of which is restricted funding) are held in Credit Union Offset Account to reduce interest liabliti¢s on the loan. During the year, the leoacies totalling £130 were transferred from the Repair and Development Fund to the Hall Redevelopment fund as per the families request. The Church has set up a Discretionary Fund through wliich donations are received and allocated at Éhe discretion of the Vicar to assist those wlio are in need of help, support and assistance withiii the Parish. Page 5
St Paul's Parish Church - Gilford Trustees. Annual Report Year Ended 31 December 2023 Structure, Governance and Management Going Concern The trustees have reviewed its planned expenditure for the year ahead and are satisfied that there are adequate funds in place to ensure the Parish can continue its activities and the financial statements for the year ended 31 December 2023 can be signed off as a going concem. Governing Document and Constitution of the Charity Chapter I I l of the constitution of the Church of Ireland governs Parishes and Parochial Organisations. The Select Vestry are Charity Trustees. Organisational Structure The Select Vestry consists of a member of the Clergy serving in the ParÉsh, the Church Wardens, Glebe Wardens and generally not more than twelve other members elected at General Vestry. The Select Vesty is reponsible for the day to day maTJgement of the Parish. The select vestry is chaired by the incumbent or any other member of clergy officiating within the parish. Select vestry members are responsible for making decisions on matters of general concern and importance to the parish including deciding how parish funds can be applied within the remit of Finance, Furnishings and Fixtures. The Select Vestry meets at times fIxed by the members or the Disocesan Synod. Special meetings may be convened at any time by the chairperson or church wardens. Appointment of Select Vestry (frustees) All members of the Church of Ireland who are over the age of18 and who are either resident within the Parish or live elsewhere but have been accustomed members of the congregation for at least three months may register as members of the General Vestry of the Parish. The register of members is opened for a period of 4 weeks each February and close and validated by the Select Vestry. Being noted on the Register of Vestrypersons allows them to attend and vote at meetings of the General Vesty and stand for election to the Select Vestry. The Vicar can appoint a Vicars Church Warden and Vicars Glebe Warden with the General Vestry appointing Peoples Church Warden and Peoples Glebe Warden all of which are automatically appointed to the Select Vestry. All Select Vestry members hold their positions for a period of one year and maybe re-elected annually with no limit on the tenns to be served. Compliance Jvitb Public Benefit The Parish has given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that activities entered into during the year have assisted to achieve the Parish's objectives and activities as well as providing public benefit. Page 6
St Paul's Parish Church - Gilford Trustees, Annual Report Year Ended 31 December 2023 SIRtement of Trustees, Responsibilities The Trustees are responsibl¢ for preparing the Triistees, annual report and the financial staternenls in accordance with the appltcable laiv and UnRted tlinodom Accouiiling Standards (Uniled Kingdoin Generally Accepted Accounting Practice). Th¢ law applicable to ¢hariti¢s in North¢rn Ireland iyiili incoi)Ic of Ics> Iliaii £?50,000 allows the trustee5 to prepare & stateinent of reGeiptS dnd pa)'m¢nis <lVCOLint and a stateinent of assets and liabilitie5 for each tinancial j'ear. The truslees have ¢l¢Gted under Section 64(i) of the Charities Aci Cqorthern Ireland) 2008 Éo do this. The trusie¢s are repoiisible for keeping accounting records Ihat are sufficient to show and explain the Parish's transactions and disclose with reasonable accuracy at an). tiine th¢ assets and liabilities of the Parish. They are a150 responsible for the safeguarding of assets and hence for taking all reasonable steps for the prevention and detection of fraiid and other irregularities. Statement as to disclosure to our examiners In so far 2S the IrLt%tees are awar- at the timing of approving our triistees, anniial report.. There is no relevant infonnation of ivhicli the Independent Examiner is unaivare- and The Irustee5 have tak.en all steps that they ougljt to have taken to niakc ourselves aware or any Televaiit examination infonnalion and lo establlsh that the Independent e.KatnFner is aware of tl?at infonnation. Independent Examiners The eXnIners. Kennedy & Co, have indicated their willingness to continue in office and a resolution concerning their reappointment was pI'oposed at the .4niiual Easter Vestry Meeting. rhis Trustee5' Annual Report was approved on and Sied on its behalf bv Clive Serplus Trexsurer Rev. Deiiise Caddoo Vicar Page 7
St Paul's Parlsh Church - Gilford Independent Examiner's Report to the Trustees of St Paul's Parish Church - Gilford Respective responsibilities of the trustees and exAminer The charity's Irustecs responsibility for the preparation of ihe trustees report and the accounts, as set out on pages 4 to l i. in accordance ivitli applicable Northern Irish law and ihe accounting standards issued the Accounting Standard8 Board lind published bv The Inblitute oFChartered Accountants in Ireland IGenerallv Accepted AcLounting Practice in Northern Ireland) ar¥ Sel out in tlie Stalemeni of Directors, Responsibilities on page 7. The charity's trustees consider that an audit is not required for this j'ear but have requesied that an independent e.iamination be carried out. It is mv repsonsibilitv lo: Examine the aLcounl% Folloiv the procedures laid doivn in the general Directions given by the ierni% of our engagement and To state whether particular malters have come lo m), attention. This report. including ihe statement. has been prepared tor and onll. for Ihe charity's trustees as a body in accordance iviih thc tenns of our enga¥ement and for no other purp05c. We do not, in giving this stulcment. acLept or assume reponsibilit!, for any othcr purpose or to any other person to ivhom thi5 rcport is shown or into Ivhose hands it may Com¢ save ivhere expTes51y agreed by our prior consent in vvriting. Bx5is of independent examiner's statement My exatnination was Larried out in accordance wilh general directions givcn by the tern)s of our engagemcnl. An examination includes a rei'iLiv of the aicounting record5 kcpt bi, the ¢hdrity and a comparison of the accounts presented ivithin those records. It a150 includes con.%ideralion or ativ tjnusual itcms or disclosures 't[hin the accounts. and sceking explanations from the Irustecs concLrning any such matter%. 'fhc procedures undertakcn do not provid¢ all the eviden¢e that ivould be r¢quircd in an audit, and consequenilv no opinion 15 give as to iylieiher Ihc accounls proi'idc'a true and fair. vieiv and the report is limited lo thosc matters sct out in the btatcnicnt beloiv. Independent examiner's statement In connection with my cxaminaiion of thc financial statemLnts for the vcar cnded 31 December 2023. no matter has comL to my attention which givcs me reasonable causc to believe that. in an).. material rcspect, the requircmenls: to keep accounting records to prepare accounts ivhich attord with the accounting records and complj iviih accounting I'eqliiremenl have not been Tnct 2. lo which. in my opinion, attention should be drawn in order to enable a proper understanding of the account5 to be reached. Jonathan Faulkner FCCA Kennedy & Co Chartered Certifted Accountants and Registered Auditors 21 Kilmorey Street Newry Co Down BT34 2DF Date: Page 8
St Paul's Parish Church - Gilford Receipts and Payments Account for the Year Ended 31 December 2023 Unrestrlcted Funds Restricted Funds Total Funds 2023 Total Funds 2022 NOTE Income and Endowments from: Donations and legacles Other trading activities Investment Income Other Income Total Income 63,732 3,903 179 loo 67,914 15,514 79,246 3,903 15.676 loo 98,925 65,238 2,720 15,066 3,745 86,769 15,497 31,011 Expenditure on: D40cesan Costs/Assessment Church and Church hall running costs Vicarage running costs Administrative costs Charitable donations Capital Payments- Church Hall Other Total Expenditure 45,158 13,080 3,534 4,144 1,940 15,497 60,655 13,080 3,534 4,144 4,265 54,808 14,924 3,775 4,432 3,052 52,993 14,743 798 17.822 100,421 134,782 io li 12 2,325 14,743 82,599 IDefi¢itl/Surplus for the year before transfers 114,6851 13,189 11,4961 148,0131 Transfers 11301 130 IDeficit115urplus for the year 114,8151 13,319 11,4961 148.0131 All of the charity's activities derived from continuing operations dtjring the above two periods. Page 9
St Paul's Parish Church - Gllford Statement of Assets and Liabillties as at 31 December 2023 Unrègtricted Funds 2023 Designatèd Funds 2023 Restrirted Funds 2023 Total 2023 Total 2022 Cash Fund5 Danske Bank Current Account Danske 8ank Repair Fu'nd Account Danske Bank Development Fund Account Ulster Bank Current Account Credit Union Offset Account Total Investment A55ets 6,217.69 10,628.86 1.04I.00 7,258 69 10,628.86 3.13 573.17 22,604.24 41,068.09 11,546.55 15.437.36 3.13 973.32 14,604.44 42,564.80 3.13 573. 17 14,604.24 16,221.54 8.000.00 24.846.55 Fixed Assets Assets retained for the Church's own Lése comprise the folloviing properties. Totr41 2023 Total 2022 Vicarage Churcfr, Hall 255,000 175,368 430,368 255,000 175,368 430,368 Liabilities Credit Union loan Account 137.8211 152,1851 Approved by the trustees on and 51gned on their behalf bv.. Clive Serplus RÈV. Denise Caddoo Vlcar Page 10
St Paul's Parish Church- Gilford Notes to the Financial Statements for the Year Ended 31 December 2023 l Aeeounting policies Set out below are the principal accounting policies which have been adopted in the ¢ompilation of the Receipts and Payments Account and the Statement of Assets and Liabilities. (a) Receipts and Payments Account All item5 of tncome and expenditure included within the Statement of Financial Activities Account have been accounted for on a Cash receipts basis. (b) Statement of Assets and Liabilities The assets of the Parish, trtained for its own use comprise of: - Church Building and Graveyard Church Hall - Vicarage - Fixtures and Fittings The Church Buildings 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 assels and liabilities as information on the cost or valuation 15 not available and such infomiation cannot be obtained at a cost commensurate with the benefit to the users of the aoUnts and to the parish. The Vicarage and Church Hall are recognised at the estimated net realisable value of the property. No depreciation has been provided on the rectory &$ the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. Basis of preparation As the total income of the parish is less than £250.000. the trustees have elected to prepare the accounts on a receipts and payment basis. Page 11
St Paul's Parish Church - Gilford Notes to the Financial Statements for the Year Ended 31 December 2023 Income from donations and legacies Unrestricted Funds General 2023 Restrirted Funds 2023 Total Funds 2023 Total Funds 2022 Donations and legacies: Loose Collections Repairs and Building fund subscriptions Donations Legacies Gift aid reclaimed Hall Project Loose Plate 47,080 47.080 13.119 7,256 44,935 15.160 4,673 200 13,119 2,325 4,931 11,721 11,721 70 79.246 70 15,514 270 65,238 63,732 Income from other trading activtties Unrestrirted Funds General 2023 Restricted Funds 2023 Total Fund5 2023 Total Funds 2022 Proceeds from Fund Raising Events Fundraising Events NIE Wayleave Amazon Awards 3,870 14 19 3,903 3,870 14 19 3,903 2,707 13 2,720 Investment Income Unrestricted Funds General 2023 Restricted Funds 2023 Total Funds 2023 Total Funds 2022 Interest receivable and similar income; Interest receivable on bank deposits 179 15,497 15,676 15,066 Page 12
St Paul's Parish Church - Gilford Notes to the Financial Statements for the Year Ended 31 December 2023 Other Income Unrestricted Funds 2023 Restricted Funds 2023 Total 2023 Total 2022 Covid Grant Baptism Certificate Credit Union Loan increase 1,510 50 2,185 3,745 100 100 100 100 Diocesan Costs/Assessment Unrestricted Funds 2023 Restricted Funds 2023 Total 2023 Total 2022 Wages Pension Diocesan Costs 27,650 10,848 6,660 45,158 15,497 43,147 10,848 6,660 60,655 38,712 9,952 6,144 54,808 15,497 Church and hall church running costs Unrestricted Funds 2023 Restricted Funds 2023 Total 2023 Total 2022 Church Maintenance Hall Maintenance Light and Heat Water Rates Insurance Church Overheads 1,369 137 3,622 1,132 3,080 3,740 13,080 1,369 137 3,622 1,132 3,080 3,740 13,080 1,350 1,580 5,314 301 2,866 3,514 14,925 Page 13
St Paul's Parish Church - Gilford Notes to the Financlal Statements for the Year Ended 31 December 2023 Vicara8e Costs Unrestricted Funds 2023 Restricted Funds 2023 Total 2023 Total 2022 Vicarage Maintenance Rates 2,258 1,276 3.534 2,258 1,276 3,534 2,565 1,210 3,775 Unrestricted Funds 2023 Restricted Funds 2023 Total 2023 Total 2022 Administrative costs Bank Fees Loan Interest Gift Aid Fees Accountancy Fees General 217 1,620 531 600 1,176 4,144 217 1,620 531 600 1,176 4,144 229 2,484 600 1,118 4,431 Unrestricted Funds 2023 Restricted Funds 2023 Total 2023 Total 2022 10 Charitable Donations Poppy Appeall Earl Haig Fund Gilford Scout Group Harvest Appeal - Craigavon Foodbank Harvest Appeal - Mcmillan Nurses Harvest Appeal - Biblica Turkey Appeal Lybia Appeal Belvedere Nursing Home DSD- Gilford Primary Angel Wishes Craigavon Food Bank B Positive Charity Bishop Appeal Altex Collection Hall Festival Christian Aid Southern Area Hospice CMS Donated 27 250 123 150 250 500 200 so 500 soo 500 500 434 253 500 450 255 225 125 500 250 250 16 12 125 500 250 250 213 124 267 242 167 78 500 425 3,053 302 310 500 500 1,940 2,325 4,265 Page 14
St Paul's Parish Church - Gilford Notes to the Financial Statements for the Year Ended 31 December 2023 Unrestricted Restricted Funds Funds 2023 2023 Total 2023 Total 2022 li Capital Payment- Church Hall Church Hall 52,993 Unrestricted Restricted Funds Funds 2023 2023 Total 2023 Total 2022 12 Sundry Invitation cards Jubliee Coins Gift for outgoing vestry Baptism cards Organ Service Mothers Union Evening costs Donations to Bishops Bike Ride Flowers for Bishops Wife Mens Breakfast Club Sunday prize St Patricks Night Costs Credit Union Loan Decrease 30 70 70 16 185 74 loo 55 76 123 70 240 33 14,400 14,743 70 240 33 14,400 14,743 799 13 Transactions with the Trustees The parish paid expenses of £3,534 relating to the running costs of the vicarage which is occupied by the reverend. 14 Governance Costs Governance costs of £600 were included during the year which solely relate to fees paid to the independent examiner. Governance costs are included within Administractive costs in the Receipts and Payments Account. Page 15