CHARITY REGISTRATION NUMBER: NIC 101753 ST PAUL'S PARISH CHURCH- GILFORD TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
St Paul's Parish Church - Gilford CONTENTS PAGE Charity Reference and Administrative Details Trustees, Annual Report Independent Examiner's Report Receipts and Payments Account Statement of Assets and Liabilities io Notes to the Financial Statements 11-15 Page 2
St Paul's Parish Church - Gilford Charity Reference and Reference and Administrative Details Year Ended 31 December 2024 Chairman Rev. Denise Caddoo Hon. Secretary Drjoanne Weir Hon. Treasurer Mr Clive Serplus Parochial Nominators Dr. Joanne Weir Mr David Francey Mr Clive Serplus Mrs Grace Mccart 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 MtBurney Mrjohn Henry Dennison Mi lan Mccart Mr Colin McElrov Mr Robert Somerville Drjoanne Weir Dr Alec Lyons (Appointed 25 April 20241 Contact Address The Vicarage 18 Scarva Road Gilford Co Down BT63 6BG Independent Examiner Kennedy & Co Chartered Certified Accountants & Registered Auditors 21 Kilmorey Street Newry Co. Down BT34 2DF 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 2024 The trustees present tlieir annual report together with the independently examined financial statements consisting of tlie Receipts and Payments Account and the statemeiit of Assets and Liabilities for St Paul's Parish Church Gilford for tlie year ended 31 December 2024. Objectives and Activities The main Charitable purpose of the Church of Ireland is for the advancement of Religioii. The principle function of St Paul's Parisli Church is to support the advancement of the Christian faith by pi'omoting through the work of tlie Vicar, Select Vestry and its parishioners the whole mission of the church. Pastoral, Evangelistic, Social and Ecumenical. A caring Churcli supporting the needs of the cominunity since 1869 tli¢ church lias continued to b¢ open and engaging with the community aiid offering suppoit for those needing help which is fundaineiital to the practical benefits of Christianity. As a result of activity in pursuit of the advanceinent 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 commuiiity. Maintenance is undertaken by the Select Vestry of St Pauls Parish Church. Achievements, Performance and Publie Benefit St Pauls Parish Church has weekly services on Sunday mornings at l E..30am and an additional early morning Communion Service at 9:30am once monthly. All services comprise of a mixture of Morning Prayer, Holy Communion, Family Service, Baptism together with otlier sp¢cial services duriiig the year Coinprising of but not limited to Lenten Services, Holy Week, Harvest Thanksgiving and Christmas Services. PastOFal Care is also provided by the Vicar with regular liome, 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 tlie work of the school to maintain good standards and practices both academically and through the advancement of Religion. The Vicar attends regular services within the Scliool. Page 4
St Paul's Parish Church - Gilford Trustees, Annual Report Year Ended 31 December 2024 Financial review The principle source of Income to St Paul's Parish Church continues to be from Free Will Offering Donations and loose plate Collections. Gift Aid income is also derived from the above source of ncome. The principle expense of St Paul's Parish Church is in respect of Vicars Stipend, Diocesan Pension and Costs as well as ChuTch Inaintenance expenses. St Paul's Parish Church had a surplus of receipts outweighing payments by £14,419 for the year ended 31 December 2024. Essential repairs to the Church, Church Hall and Vicarage are noted in the Parish report and have attributed to the decline in total cash funds from the repaTrr and development fund account. RCB investment income of £16,81 l is restricted solely for use for the Vicars Stipend. Funds reserved in Ulster Bank Accounts are restricted for use against essential maintenance and development costs lo the parish. St Paul's Church continues lo be in a healthy financial position as at 31 December 2024 with total cash funds of £55,487. St Paul's Church aims to retain sufficient reserves to meet its expected future expenditure requirements as well as potential future capital projects. The Hall Project for the replacement of the Hall Roof and Internal Redevelopinent commenced in May 2021 and wa5 completed in May 2022. We received an advance of £50.000 by way of on-going credit facility from Stramore Credit Union with monthly interest of Bank of England base plus i.9 % capped at 6 %. Loan balance as at i l December 2024 was reduced to £24,485. Funds totalling £29,399 (£21,i99 of which is restricted funding) are held in Credit Union Offset Account to reduce interest liablities on the loan. During the year, Bequests totalling £6,200 were lodged to Credit Union Offset Account at the families permission with a dividend paid by Stramore Credit Union of £595 backdated from June 2022 a5 a gesture of Goodwill. Current balance in Offset Account is £29,i99 of which £8,000 is a loan from repair account on a temporary basis to mitigate interest payments with the Bequest Balance now at £21,J99. These monies are reslricted and not for use for any purpose other than interest. The Church has set up a Discretionary Fund through which donations are received and allocated at the discretfton of the Vicar to asslst those who are in need of help. support and assistance within ihe Parish. Page 5
St Paul's Parish Church - Gilford Trustees, Annual Report Year Ended 31 December 2024 The Parish Treasurer gave an update to the parish in June and December 2024 detailing the current progress with finances in the parish. The December update included a significant volume of repair works pending and due fo completion over the coming 5 years. Attached for reference. Structure, Governance and Management Going Concern The trustees have reviewed its planiied expenditure for the year ahead and are salisfied that there are adequate fuiids in place to ensure the Parish can continue its activities and the financial statements for the year ended 31 December 2024 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 govems Parishes and Parochial Organisations. The Select Vestry are Charity Truste¢s. Organisational Structure The Select Vestry consists of a Inember of tlie Clergy serving in the Parish, the Church Wardens, Glebe Wardens and generally not more than twelve otlier members elected at General Vestry. The Select Vestry is reponsible for the day to day mangement 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 decftsions on matters of geiieral concern and importance to the parish including deciding how parish funds can be applied wiihin the remit of Finance, Furnishings and Fixtures. The Select Vestry meets at times fixed by the Enembers or the Disocesan Synod. Special ineetings Inay be convened at any tiire by the chairperson or church wardens. Appointment of Select Vestry (Trustees) All members of the Church of Ireland wlio are over the age of18 and who are either resident within the Parish or live elsewhere but have beeii accustomed members of the congregation for at least three montlis and it is demonstrated that they have coiitributed regularly to the parish by way of Freewill Offering, may register as Inembers 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 oil the Register of Vestrypersons allows them to attend and vote at Ineetings of the General Vestry and stand for election to the Select Vestry. The Vicar can appoint a Vicars Church Warden and Vicars Glebe Warden with the General Vesty appointing Peoples Church Warden and Peoples Glebe Warden all of which are automatically appointed to the Select Veslry. All Select Vestry members hold their positions for a pertod of one year and Maybe re-elected annually with no limit on the terms to be served. Page 6
St Paul's Par15h Church - Gilford
Triistees, Annu?1 Report
Year Ended 31 December 2024
c.ompliance iyith Pbblie Ilenefit
'rhe Parisli h.as giv17 LarblÈA-. I0515ideril1ioii lo thc l-'liÉiiity Ct?nTrlllissiiiii fr01. 51 Sorh"rii Irelaiid's INUILl6ye on
Jubli£ bert¥! it to eriltr¢ tliaL c1ClI'Jltie.s eniei'..d- illto dui In& yedv havkn aqsisted 10 dLhi¢v¢ il)e Paribh,
Si2tement ofTriJstetts' Respon%'ibiliiie..¥
"l-lie T-: bkiees are tesponsr>Jlc !r>r pieiisl'-IMry the. ! ruRtee.£' nii£+l r¥POtY aiid Ikig finiJnLidl sld¢mLRlS iri
Iccord¢ince i¥iih tlie 2rpliÉ.JblL law '.Iiid Un tert in¥idL'ni dXbCOb'lliliÉ¥ >iaiidards jUDJted Kingdom
GciTrei"Jlly AccLpiid AccountiiiLt PrailIL-).
"rhe 31¥ appli¢dble ÈLI cII?c !'.tie% in ?K'or¥hern 1r.land with inL£-¥tllL' (If T5$ Ih.:iii ,£?<uf.c¥(10 &l!IKli¥i IhL Irust£Ys
to Pl':.P2f4', ¢1 Jlaienient ¥CkniPt,5 3ni pavmeiiis <lc¢oufii aTTth' a st4tci¥ii'nr 01 &l%fi'l.4 or,.d +i3biliiies
for edth finalic:"
al year. l-lie Irii8le¢.5 hd¥'e .leLt¢d 1nder Section 641.7 l of Ilie Chafill¥S .I..
jN4)rt17erii IF¥lar7d) 200g to di) thi.8.
I'h¢ iriiSt¢¢s arL reprJnsilJle lor L¢ttpiIig ar¢ountin.4 records th&t sutflcieiii to Oh1¥ aiid XPl(lin Ihe
l)arish'.¥ IrAns4ieLion.t aiid (lis¢lts%L - lili ",eas(313aii¢ aL-=Ul7Cy At anj tim¢ tlie h%S¢iS antl iiabiliiie3
of thL P,oi'i.%li, 'fiiey are also r¥spoii%ible tor t5ie sitfe
St. Paul's Parish, Gilford Dear Parishioners When I wrote to you in May this year I had committed to give a further update on the parish finances and also a review on the ongoing essential maintenance works that we as a parish are obligated to complete to ensure that our Church building, Church hall and Vicarage are in good condition. In terms of Parish finances whilst 2024 has been a very challenging year l arn confident we should end the year in a stable position building again on the encouraging growth and cost reductions from both 2022 and 2023. Also, we at vestry have been encouraged by the addition of new members to the parish whom I know are now very much part of our church family. Freewill Offering . Freewill Offering though envelopes and loose cash donations is trending up year on year at 7% with Weekly Donation5 averaging £929.00. Whilst this is an encouraging uplift on 2023 at present the weekly day to day running costs of the parish average approximately £1,600 weekly and we are very reliant on the income from Gift Aid and Investments however the actual deficit is currently approximately £50 per week with further increased costs due in 2025. I would encourage all parishioners to consider their weekly giving to the parish as a minimal increase of £1.00 per week from each parishioner would help close the gap and ensure the pèrish meets any increased cost5 in 2025. It would be great to aim for a target of £1,000 per week which is more than achievable. ! Hall Project Fund i am pleased to advise that the balance on our loan held with Stramore Credit Union now stands at £24.500 and l anticipate the year end balance to be around £23,000. This is a I fantastic achievement if you consider that we have been only paying off the loan in less than 3 years. I would note however that approximately 44%139 Parishioner5) regularly donate to this fund which has dropped from 2023. We are thankful for the hard work by the Events Committee who have worked tirelessly throughout the year organising events which have been very well supported raising £6,500 in fund5 which have helped reduce our loan liability. l am mindful that some parishioners had donated via one off giving at the beginning of the project however I would encourage all parishionets to donate to this fund if you are able. Discretionary Fund Discretionary Fund Donations have reduced this year. As I noted in May ! these envelopes were at the back of the Freewill Offering packs and have now been moved to the front to highlight this important fund which has been used by Denise to support members of our parish family in need this year whom I know have been blessed by the support given. Repair Fund Donations to the Repair Fund show a slight increase on 2023 which again is encouraging, This coming year the Repair Fund will be a vital source of income as we look to continue with repairs to both the Church Building and Vicarage. I noted within my letter in May this year that we had received the Quinquennial Inspection Report facilitated by the Representative Church Body and this has highlighted a number of urgent and short term works to be carried out. We have also received a very kind donation from a Parishioner to complete the internal lighting works within the Church building which will commence in the new year providing much needed and more efficient lighting to as51St in our electrical costs. I have detailed some of the more urgent works which Vestry will be looking to commence in 2025 31nnnciAts +r* r..-
A ImiTJediate item Re-fix loose ceiling ti le to the Nave. Clean gutters. Take down and reset gutter and hopper to Transept at Oroan Loft abutment. £ 300 £ 500 B Within 12 months £1,500 Redecorate dowr]pipes where required. Hiqh level inspection of Bellcote. £ 800 £2,000 I Identify and remove asbestos downpipes (provisional). Clean tapered tsutter at Porch. Removal of neighbouring trees. £3,000 £ 100 Replace rainwater hoppers along south gutters. £Nil £1,000 Point entrance gate piers. Varnish external door5. Periodic review of the Mcmaster Memorial. £ 400 Clean gutters. £500 £ 500 C Within 2 years Take down and reset gutter and hopper to Transept at Organ Loft abutment. £Nil £1500 Fill potholes. £ 600 One of the major issues identified within the report was the Bell Tower and what appears to be a crack in the tower. You may have seen a drone recently above the church which took some further photographs and it now appears that the wood within the bell tower itself has also rotted alongside rusting bolts and requiring repairs in the near future. We have engaged with a number of contractors and estimated costs have been quoted in the region of £20,000 to complete repairs and vestry will review matters early in the new year. In addition as you will See inside Church parts of the interior walls are in need of replastering and painting now that the exterior issues have been mainly completed and the walls drying out. We have been quoted approximately £10,000 to complete these works,
At present only 30%,128 parishioners) donate to the Repair Fund on a regular basis. Given the extent of the works required in the next 24 months I would encourage you to consider donating to what is a very important fund to the parish and will help to maintain and ensure our historic building is fi't for future generations. Gift Aid . Thankyou to those Parishioners who have signed up for Gift Aid this year. With your declaration we will be able to claim backdated Gift Aid on your Donations. A51 noted within my Parish Report HMRC refunds 25p back to the parish on every £1.00 for eligible donations and this remains a very important income for the parish with approximately £11,000 claimed for the financial year end December 2023. All that is required is that you pay Tax on your income either through employment including self employment, savings or Pensions. Indeed given the recent budget there is a high likelihood that some of our more elderly parishioners receiving state pension may well fall within the income tax threshold in the coming year and will therefore be eligible to sign up for Gift Aid. If any parishioner wishes to speak to me for further information please do not hesitate to speak to me directly and I will be more than happy to a55iSt. You will note in Church there are One Off Giving Envelopes now in each Pew. This is to allow any parishioner or visitors who wish to donate and also allows Gift Aid to be claimed on the donation. A5 yourTreasurer I want to thank you all for your support and encouragement over the past yearand I look forward to serving you in the year ahead as we navigate further challenging times. l am confi'dent that with your support, prayers and through the guidance of God that we will as always fulfil our ambitions as a parish. Finally, as we approach the Christmas period please remember those not so fortunate in your thoughts and prayers. As has been announced by Denise all loose plate collection donations will be donated to both Craigavon Food Bank and Southern Area Hospice. Thankyou in advance for your kind generosity. Yours in Christ CLive ro <oD BE TH-E 4LDRY
St. Paul's Parish, Gilford LS Gli Dear Parlshloners It has now been two years slnce we officially reopened our newly refurblshed Churth Hall which Blshop David dedicated on Sunday 22nd May 2022. This glves me an opportunity to provide you all with an update on the progress of the repayment of the loan of £70.000 from Stramore Community Credit Union and also an update on other financial matters wlthin the parish. When I completed the finoncial report for the year end to December 2023 the balance on our loan was £37.785. 1 am pleased to illform you that the balance as of the end of May 2024 now stands at £31.985 mainly due to the succe55 of the events that have tsken place this year to date which alongside other one off donations which totalled just over 1 £3,000. A15Q. With the redistribution of both the legacy monies and the Repair Fund lodged with the credFt unlon on a ternporary basis the result is that we now only pay interest on £9,380 and this will reduce further as the year progre55es and I fully expect we should be interest free by early 2025. The nett effect of this is that we will save l approximately £1,400 on interest payments alone in 2024 and therefo continue to reduce the capital further. On a slightly MO negative note donation5 to the Hall fund from envelopes have declined against last year by approximately EIOO per month. We still only have approxirnately 50% of Parishioners currently regularly donating through envelopes or standing order and I would encourage those who have yet to donate to please consider donating on a monthly or one off bBSiS as this will help reduce the loan balan further. Notwithstanding this the current outlook is that we remain within our 5 year plan and we thank GOD for his blessings and answers to all our prayers. In terms of the main financial position of the Parish a51 noted within my report at year end we continue to be in a ! stable position and again with the Gift Aid reclaimed from all funds allocated to the General Account thi5 continues to be the case. Freewill Offering Donations to the end of May 2024 have been encouraging with an increase of 3.5% against the same period last year. In addition the Repairfund ha5 also seen an increase in donations of 2.5%. This is a very encouraging position however we continue to face increased costs of approximately 5% against last year. Notwithstanding this considering the continuing financial pressure we all face as families I want to record the thanks from our Vicar Denise and the Select Vestry for your continued commitment in donating on a regular basis to the parish as we continue to navigate, a5 wrth all other parishes alike through challenging financial pressure5. I will continue as your Treasurer alongside the support of Vestry to try and reduce any cost5 to the parish and to this end we are in the second of a three year deal with our insurers with no increased premium5 and also a now engaging with Nl Water to reduce our payment by approximately £400 a year. We do have a challenging few years ahead and a150 some further repair works to the Church itself following the recommendation5 made by the Representstive Church Body who recently completed their Quinquennial Report. This is a report completed every five years by the RCB which sets out urgent and long term repair5 to be completed on the church and vicarage and this will be reviewed in full at the next vestry meeting to agree a plan to complete these necessary works on a phased basis. We a150 soon will complete the necessary works to the sound system area at the rear of the church to bring all sound and projection to one place. Glft Aid - We continue to receive income from Glft Aid with a number of new declaratSons completed this year which I will bring further Income to the parish. I would encourage those who pay Income tax either through employment or enslons to consider Signing up to gift aid ypur donations to the parlsh. Dlscretlonary Fund - The Church Discretionary Fund envelopes were mistakenEy added to the rear of the envelope pack for this year and you may not have noticed these. I would encourage you to donate to thi5 fund and equally if l you know of any of our parishloners who would benefit from thls fund please speak conftdentially to Denlse. Finally thankyou agaln for your trust in me as your Treasurer and thankyou for your cOnnUed commitment to our parish though your donation5, presence, help and 5UPPOrt at various events and last but by no means the least our thanks to GOD who continues to bless us with in our worship together.
St Paul's Parish Church- Gilford Independent Examiner's Report to the Trustee5 of St Paul's Parlsh Church- Gilford report to the charity trustees oli my exajninalion of the accounls of th¢ Company for the }ear ended 31 December 2024 which are set out on pages 4 to 15. Respective respon$ibiliti¢$ of the trustees and examiD¢T As the charity trust¢es you are responsible for the preparation of the accounts in accordance with tlie requirem¢nts of the Charities Act INorth¢rn Ireland) 2008. It is my responsibility to.. Examine the accounts under 5¢Ction 65 of the Charili¢s Act (Northern Irelandl 2008. rollow th¢ procedures laid down in tlie general Directions given by Il?e Charity Commission foT Northern Ireland under secÉion 65(9)(b) ofthe Charities Act. and state whether particular matters have come to my attention. Basis of indepcndent examiner's report I have ¢Kamincd your cliarily acLOUtits as rcquired under section 65 of thc Charities Act and my ¢xamination ivas carried out in accordance wilh the g¢n¢ral Dircctions given by lh¢ Charity Commission for North¢rn Ircland under 65{91{b} of Chariti¢s Act. My cxamination included a rcvicw of the accounting re¢ords k¢pt by tFie charily and a ¢otnparison of the accounts presenl¢d Ivithin those rccords. It also includes consideration or any unusual itcms or disc105ures in the account5. and bccking explanations l¥om you as charity trLlStccs concerning any 5ucli matt¢rs. My role is to slate whetlicr any material matters hav¢ com¢ to my attention giving m¢ causc to believe-. Tliat accounting records iv¢re not kcpl in accordance with scction 63 of the Chartties Act That ihe accounts do not accord wilh tho%e aecounling rccords That thc accounts do not Lomply i¥itli the accounting requirement5 of Ihc Charities Acl That there is furtlier infom]atioii needed for a prop¢r undcrstanding of the attounts to iK Tcached. Indepcndent ExamxMcr'5 Statement I have complcted my Cxamination and have no conccm5 in respect of the matter.% (l) to141 listcd above and. in connection with following the Directions of th¢ Charity Commission for Northcrn Ircland. I have found no matters that rcquirc drdwillg to your attention. Jonatban Faulkncr FCCA Kennedy & Co Charlcred Certtfied A¢¢ountant5 and Registered AuditOT5 21 Kilmorey Street Newry Co Down BT34 2DF Datc: Page 8
St Paul's Parish Church - Gilford Receipts and Payment5 Account for the Year Ended 310ecember 2024 Unrestricted Funds Restricted Funds Total Furtds 2024 Total Funds 2023 NOTE Income and Endowments from: Donations and legacies Other trading activities Investment Income Other Income Total Income 66,971 6,449 54 4,293 77.767 22,781 89,752 6,449 17,580 4.293 40.307 118,074 78,071 3,903 15,676 1,275 98,925 17,526 Expenditure on: Diocesan C05ts/Assessment Church and Church hall running costs Vicaiage running costs Administrative cost5 Charitable donations Other Total Expenditure 45,766 16.374 4.103 3,337 1,900 13,394 84.874 16,811 62,577 60,655 16,374 13.080 4,103 3.534 3,337 4,144 3,870 4,265 13,394 14,743 18.781 103.655 100,421 io li 1,970 {DeficitllSurplus for the year before transfers 17,1071 21,526 14,419 11,4961 Transfers {DeficitllSurplus for the year 17,1071 21,526 14,419 11,4961 All of the charity's artivities derived from continuing operations during the above two perTrods. Page 9
St Paul's Parlsh Church - Gilford Statement of Assets and Liabilitles as at 31 December 2024 Unrcstricted Fijnds 2024 DesTr¥nated Fund$ 2024 Re5tr!tt*d Furtds 2024 Total 202 Yotal 2023 Cash FLt.Trds Danske 8o1)k Curreni Account D3175ke sank Repair r-und Accnup.t Danske Bank Deble£opment Fund }ccou11t UIsKer aat)k r.JJtrent AccDui)I Cfedit Ur¥io? Offset Account Total Investment Assets 7,964.52 14,Sq4.52 1.123.00 9,087.52 14,544.52 7.258.69 10,628.&6 3.13 573.17 22,604.24 41,fj08.09 3.21 2,45 I QS 21,399.67 24,0} 1.84 2,451.96 79,399 67 55,486.88 8,OLTrO.O 30,i09.J4 Fixed Assets Asietj ret3ir,ed for the Chu., ¢h"'r own use comllrise the folloiv";ftg properties. Total 2024 Ttstal 2023 Vicara6e Church Hall 255,000 175,368 2J5.000 75,368 4iO,iè3 Liabilitles Credi¥ Union Loan Account t?4,4851 j37,821l Approved by the trustees on and signed Dn their behalt by.. Cl%ve Sgrplus Kev. Oenlse Caddoo Vicar Pa8e 10
St Paul's Parish Church - Gilford Notes to the Financial Statements for the Year Ended 31 December 2024 Accoulltilkg policies Set out below are the principal accounting policies which have been adopted in the compilation of the Receipls and Payments Ac¢ount and the Statement of Assels and Liabilities. (a) Receipts and Payments Account All items of income and expenditure inclltded within the Re¢eipts and Payinents Account have been accounted for on a cash re¢eipts basis. (b) Stateinent of Assets and Liabilities The asseÉs of the Parish, retained for its own use comprise of= Church Building - Church Hall Vicarage Fixtures and Fittings The Church Buildings are deemed to be Heritage assets as defined by the Charitie5 SORP {FRS102). These Heritage assets are not included in the statement of assets and liabilities as inforination on the cost or valuation is not available and such information cannot be obtained at a cost commensurate with the bencfit to the users of the accounts ttnd to th¢ parish. The Vicarage and Church Hall are recognised at the estimated net realisable value of the property. No deprcciation has been provided on the rectory as the current estimated residual value is not le55 than its carrying value and the rcmaining useful life currently exceeds 50 years. Basi5 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 gtnd payment basis. Page 11
St Paul's Parish Church - Gilford Notes to the Financial Statements for the Year Ended 31 December 2024 Income from donations and legacles Unrestricted Funds General 2024 Restrirted Funds 2024 Total Funds 2024 Total Funds 2023 Donations and legacies.. Freewill Offering and Loose Plate Collettions Repairs and Building fund subscriptions Donations Legacies- Late Mrs Nan Lyons/Late Mr Winston Buchanan Gift aid reclaimed Hall Project Loose Plate Hall Project other Incame Other Income 50,150 50,150 15,612 3,019 6.000 12,412 167 594 1,798 89,752 47,080 13,119 6,081 15,612 1,169 6,000 1,850 12,412 167 11,721 70 594 1,798 66,971 22,781 78,071 Income from other trading activities Unrestricted Funds General 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Proceeds from Fund Raising Events Fundraising Events NIE Wayleave Amazon Awards 6.446 6,446 3,870 14 19 3,903 6.449 6,449 Investment Income Unrestricted Funds General 2024 Re5trirted Funds 2024 Total Funds 2024 Total Funds 2023 Interest receivable from bank interest and RCB Investments 54 17,526 17,580 15,676 Page 12
St Paul's Parish Church - Gilford Notes to the Financial Statements for the Year Ended 31 December 2024 Other Income Unrestricted Funds 2024 Restricted Funds 2024 Total 2024 Total 2023 Baptism Certificate Use of Hall In Loving Memory Donations One off donation 15 15 960 867 2,451 loo 750 425 960 867 2,451 4.293 4,293 1,275 Diocesan Costs/Assessment Unrestricted Fund5 2024 Restricted Funds 2024 Total 2024 Total 2023 Net Wages PAYE and Nl Contributions Relief and special Preacher Pension Diocesan Costs 19,891 8.714 343 10,242 6,576 45,766 16,811 36,702 8,714 343 10,242 6,576 62,577 33,601 9,296 250 10,848 6.660 60,655 16.811 Church and hall church running ¢05ts Unrestricted Funds 2024 Restricted Funds 2024 Total 2024 Total 2023 Church Maintenance Hall Maintenance Light and Heat Water Rates Insurance Church Overheads 3,148 2,536 3,422 721 3.233 3,314 16,374 3,148 2,536 3,422 721 3,233 3,314 16,374 1,369 137 3.622 1,132 3,080 3,740 13,080 Page 13
St Paul's Parish Church - Gilford Notes to the Flnancial Statements for the Year Ended 31 December 2024 Vicarage Costs Unrestricted Funds 2024 Restricted Funds 2024 Total 2024 Total 2023 Vicarage Maintenance Rates 2,769 1,334 4.103 2,769 1,334 4,103 2,258 1.276 3,534 Unrestrirted Funds 2024 Restrirted Funds 2024 Total 2024 Total 2023 Administrative costs Bank Fees Loan Interest Gift Aid Fees Accountancy Fees General 238 594 549 600 1,356 3,337 238 594 549 600 1,356 3,337 217 1.620 531 600 1,176 4,144 Unrestrirted Funds 2024 Restricted Funds 2024 Total 2024 Total 2023 io Charitable Donations Poppy Appeal/ Earl Haig Fund Gilford Scout Group Harvest Appeal - Craigavon Foodbank Harvest Appeal Biblica Turkey Appeal Lybia Appeal Belvedere Nursing Home DSD - Gilford Primary Angel Wishes Craigavon Food Bank B Positive Charity Bishop Appeal Bike for Africa Alzhemers Donation Christian Aid Southern Area Hospice GFA World (Jesus Wells) Discretionary Fund 313 315 50 150 250 500 500 450 255 225 125 500 250 250 50 125 125 356 360 200 300 200 19 281 220 220 450 1,050 800 3,870 310 500 450 1,050 800 1,970 1,900 4,265 Page 14
St Paul's Parish Church - Gilford Notes to the Financial Statements for the Year Ended 31 December 2024 Unrestricted Restricted Funds Funds 2024 2024 Total 2024 Total 2023 li Sundry Men5 Breakfast Club Sunday prize Sunday School Books Cleaner Retirement Gift Sundry St Patricks Night Costs Credit Union Loan Decrease 70 240 116 22 200 1244) 116 22 200 (244) 33 14,400 14,743 13,300 13,394 13,300 13,394 12 Transactions with the Trustees The parish paid expenses of £4,103 relating to the running costs of the vicarage which is occupied by the reverend. 13 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
St Paul's Parish Church - Gilford Recelpt and Payment account for the Year Ended 31 December 2024 2024 2023 Income Freewill Offering and Loose Plate Collections Repairs and Building fund subscriptions Donations Legacies- Late Mrs Nan Lyons/Late Mr Winston Buchanan Gift aid reclaimed Hall Project L005e Plate Hall Project other Income Other Income Fundraising Events NIE Wayleave Amazon Awards Interest receivable from bank interest and RCB Investments Baptism Certificate Use of Hall In Loving Memory Donations One off donation 50,150 15,612 3,019 6,000 12.412 167 594 1.798 6,446 47,080 13,119 6,081 11,721 70 3,870 14 19 15,676 loo 750 425 17,580 15 960 867 2,451 118.074 98,925 Expenses Net Wages PAYE and Nl Contributions Relief and Special Pa¢her Pension Oiocesan Costs Church Maintenance Hall Matntenance Light and Heat Water Rates Insurance Church Overhead5 Vicarage Maintenance Rate5 Bank Fees Loan Interest Gift Aid Fees Accountancy Fees General Charitable Donation5 Mens Breakfast Club SLtnday prize Sunday School books Cleaner Retirement Glft Sundry St Patricks Night Costs Credit Union Loan Repayments 36.702 8,714 343 10,242 6.576 3,148 2.536 3.422 721 3.233 3,314 2,769 1,334 238 594 549 600 1,356 3,870 33,601 9.296 250 10.848 6,660 1.369 137 3,622 1.132 3,080 3.740 2,258 1,276 217 1.620 531 600 1,176 4.265 70 240 116 22 200 -244 33 14.400 100,421 13,300 103.655 Net SurplusllDeficitl 14,419 11,4961