oAr

SL Flnnlan.? Parlsh Church Cregagh
Balance Sheet
As at. 31 Dec8mber 2022
Asat
311171Z021
311121%A2
Flx•d assets
Tv￿1￿0 asgets
11
,519
89.856
61,189
684842
720007
13
20,117
278.674
11587
197.580
C8¥h aEb2nk #nd in hand
298.791
210.1é7
14
460
Hetcu￿rrte5Jets le¥5 tyNerti1a￿ll
?98￿1
991183
6Y4
Totsl netaskets le55 Il¥blhll8S
$92,183
930.874
Repr9ts00t•d by
15
97.672
120.5Y4
D•slgnat•d
2&￿.￿￿]
218,969
s.￿1
Restrided.Hetg4NJ Handy
Fundg Dfth• ¢hvRh
991193
930.574
The mte5 on pages 13 to 22 are an h)twJrdl part Dfthe5e fjnancial s
p99￿ 11 to 12 were wpprovpd by the Board ofTnJslee5 ¢)n
ments. The Financral Statements on
and 8kJnod on tts beh811by:
Canon J PlE￿-Rector
nda LeThwd- Se￿etsry
QSt. Flnnian's Parlsh Church, Cregagh 2023
12

Notes to the flnanclal 5tstements for the year ended 31st December 2022
l. Accounting polides
The princlpal accountlng poliaes adopted, judgements and key sources of estlmation uncertainty in
the prepardtion of the financlal ststements are as follows:
al Basls of preparatlon
The financlal statements have been prepared on a golng con￿rn basis In accordan￿ wlth Actountlng
and Reporting by Charlties: Ststement of Recommended Pfactice appliL2ble to charities preparing
tbeir accounts In accordance wtth the Financial Reporting Standard applicable in the UK and Republir
of Ireland {FRS 1021- (Charitles 50RP IFRS 102)), the Financlal Reporting 5tsndard applicable In the
UK and Republic of Ireland IFRS 102).
The Parish tneets the definition of a public benefrt entity under FRS 102. Assets and liabilities are
initially recognised at historical cost and trdnsaction value unless otherwlse stated Tn the relevant
accountlng policy note(s}.
b) Preparation of accounts on a golng concem basi5
The Parish generally meets tts day to day working capitsl requirements from its annual income. The
Trnstees have obtained and reviewed cash flow forecasts for the comlng year 2nd based on these are
satisfied thatthe Parish has resources to prowde a reasonable expettatton that it can contlnue to meet
its financial obli8ations as they fall due for the foreseeable future. Therefore, these financial
Statements have been prepared on a going concern basis.
c) Income
Plate Collections and Weekly Envelopes are accounted for on a cash receipts basis as the amount is
collerted.
Income arlsing from the rontal of Parish Halls to third partie5 is reco8ni5ed when the parish has
entitlement to the funds. any performance conditions attached to the income have been met, Èt 15
probable that the ￿n￿me will be reoived, and the arnount can be measured reliably.
Income from government and other grants. whether'capital, grants or'revenue. grants. is recognised
when the charty has entitlement to the funds, any performance conditions attached to the grants
have been rnet, it is probable that the income will be reteived, and the amount can be measured
reliabty and is not deferred.
Legacies are included within Income under either unrestricted or restrirted funds atcording to the
terms under which the donation is made and when the amount can be quantified wkh reasonable
rtainty, Donations and gifts in kind are brought into the accounts at their fair value to the Parish.
St. Finnian's Parish Church, Creg3gh 2023
13

Notes to the financial statements for the year ended 31st December 2021 {continuedl
l. Accounting policies {continued)
d) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third
party, itls probable that settlementwill be required and the amount of the obligation can be measured
reliably.
Irrecoverable VAT is charged as a cost against the attivity for which the expenditure was incurred.
el Tangible asset5
The assets of the Parish comprise:_
Church Building and Grounds
Parish Halls
Rectory
Curatage
The Church Building and Grounds are deemed to be Heritage assets a5 defined by the Charities SORP
IFR51021. These Heritage a55ets are not included on the balance Sheet a5 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.
The Parish Halls were built in 1939 & 1971. There are no reliable records of the cost of this
constructionl acquisition and valuation approach fDr such a building lacks sufficient reliability. As
result, this building is not recognised in the parish balance sheet.
The Rectory & Curatage are recognised at market valuation being the estimated fair value of the
property at 01.02.2017. No depreciation ha5 been provided on the propertie5 a5 the current estimated
residual value is not le55 than its carrying value and the remaining useful life currently exceed5 50
years.
Fixtures and Fittings are recognised at cost and are depreciated on a 5traight-line basis at a rate of 15Yo
per annum.
The 055ets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of
each reporting period. The effect of any change is accounted for pr05pectively.
The minimum threshold of cost for an item to be considered to be capitalised as a fixed asset 55 £1,000.
Tangible assets are derecognised on disposal or when no future economic benef its are expected. On
disposal, the difference between the new disposal proceeds and the carrying amount 15 recognised in
the statement of financial activities and included in 'Other operating Ilosses)/gains'.
Qst. Flnnian'5 Parish Church, Cregagh 2023
14

Notes to thè flnanelal ststoments for the year ended 31st December 2022 Icontinued)
l. Accountlng polldes (continued)
fj Investments
Fixed asset investments comprising investment properties, Investments in equitie5 and Investment in
RC8ICIT Unit Trust5 3re initially recorded at cost and are then subsequently stated at fairvalue at each
balance sheet date. Investments In unquoted Investments are reeordÈd at cost and are gssessed
annually for Impalmient. Unrealised gains and loses represent the difference between the fair value
at the beginning and end of thefinandal year or, rf purchased in the year, the dlfference between cost
and fair value at the end of the year. Realised gains and losses represent the differen￿ between the
proceeds on disposal and the fair value at the start of the year or cost If purchased In the year. Both
realised and unreallsed galns and losses in investments are reported within "Net Gains I (Losses) on
Investmentg. wfthin the Statement of Financial A¢tivitles.
g) Cash and cash equlvalents
Cash and tash equivalents includes cash In hand, deposits held at call with banks, other short-tem)
highly liqtsid investments with original Tnaturitles of three months or le55 and bank overdrafts. Bank
overdrafts are shown wEthin Creditors Amounts falling due within l year.
h) Flnanclal instruments
The Parlsh orkly has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basit financial instruments are inrtially recogni5ed at transaction price and subsequently
measured at their settlement value.
i} Fund5
Funds are c]as5ified as eTther restrirted fvnds or unrestricted funds. defined as follows.
Restrlcted funds are funds subjeci to specific requirements as to their use whlch rnay be declared bv
the donor or with their authority or created through le831 processes, but stÈll within the wider tsbjects
of the Parish.
Endowment fund5 are funds which have been given on the conditlon that the original capttsl sum is
not reduced, but the Income therefrom Is used for the purpose defined 7n accordance with the objects
of the Parish.
Unrestricted fvnds are expendable at the dlscretion of the Trustees In furtherance of the objects of
the charity. If parts of the unre5trirted fijnds are earmarked at the discretion of the Trustees for a
particular purpose, they are designated as a separate fund. Thls designation has an administrative
purpose only and does not legally restrict the Trustees, discretion to apply the fund.
5t. Flnnlan's Parish Church. Cregagh 2023
15

Notss to the financial Statements forthe year ended 31st December 2022 {continuedl
2. Critical accountlngJudEements and estimation uncertainty
EstÈmate5 and judgments made in the process of preparing the financial 5tdtements are continually
evaluated and are based on historical experience 2nd other factors, induding expectations of future
events believed to be reasonable under the circumstances. The Trustees do not consider that there
are any crstical judgments made in applyin8 the Parish's accounting policies or that there are any
critical accounting estimates or assumptions which may have a s￿nificant risk of catssing a material
adjustment tp carrying amounts of assets and liabilitie5 within the next financtal year.
3. Donatlons and legacies
Unrn5tr1cted
Re¥lricted
ThtsY•ar
La5tYoar
FWO
Plale Collections
141,725
3,436
31,ieii
141,725
2,438
23,193
142.828
3,047
33.402
1033
3,024
993
2B C￿0
Spe¢ialAppe819
oth
11B 318
IL Income from Charitsble Activities
UrÈrestiicted Rostricte(t ThysY4ar
LastY4ar
MembErshlp feqs
Organtsations
Publi¢wtilbJiY
WgddlrTrg & FunoJ¥15
10
1,187
1Q
1.187
210
15D
150
1.993
910
5. Investments
Unreslyicied Rèstri¢*ed Yhitsyear LBstY•ar
539
81
DlYlden49 fec8tV8d
3.420
2.2
6. Other Income
UnT8slrfclod Rostrfcl4d Thls Year ￿StY•
Othèr
11
311
11
St. Finnian'5 Parish Church. CregaEh 2023
16

Notes to the financlal statements for the year ended 31st December 2022 Icontlnued}
7. Analysis of Expenditure
Un￿Str1e10d lknirfet•d Thlg Year L•stYo3r
R418T#g Fund6
3.746
1746
3,745
520
847
167
4.769
Pu￿￿*"0n9
88nk feÈs
1.345
829
40
019
ehatltabloAcb¥iO
Wages SalaffiES
119.735
14.304
119,ns
BS,83a
11108
5,186
5,416
¢0¥
5.942
I2,￿1
1724
1274
3256
a327
Hdl L¥tsts
IIC¢1
CurdtagBco&s
1.274
3,011
Parbh or9￿18000n*X￿S
￿￿t80￿P
iY27
7F5
670
670
28.898
27.Q47
550
TotslExppndliurB
128
154
8. Galn /(Lossl on Investment Assets
Thi5Ye8r La5tYw
Rea1158d golnslllos¥esl on Tnvtstsn#nts
9. Taxatlon
St Finnian's Cregagh is recognised as a ¢harity for the purposes of applicable taxatlon legislation and
is therefore not subJertto tsxation on Its charitsble attivÈtie5.
Qst. Finnian's Parish Church, Cregagh 2023
17

Note5 to the financlal statements for the year ended 31st December 2022 (continued)
10. Analysis of staff costs. trustee remuneration and expenses, and the cost of key management
personnel
Th1& Year
LastYetT
& Wage6
119 735
119735
65.838
The average number of employees durin8 the year, calculated on the basis of a head count. wa5 as
follows-.
20Z2
1021
Mirtsterfl
Adrbwnislraip
uwaaff
T¢Jtsl
There are no employees in receipt of employee benefts in excess of £60.000.
Key Manogement ond Trustees
Key management are deemed to cornprise the Trustees. The parish p3id expenses of £516 relating to
the running costs of the Rertory Imaintenancel which is occupied by the Rector and £758 relating to
the Curatage. For the year 2022 the values approved by General Synod and Diocese of Down &
Dromore and implementsd by the Selett Vestry of St Finnian's Parish Church, CreEagh were=
Rertor
36.475
6.590
800
3.799
t1132
Ojrate
Stlpend
Locoffr￿tDry Eypenses
Expenses Of0ffi￿ AIIDwance
Pension contrtbrtknn
Employee National Insurance
23,592
6,290
2.780
In 2022 sixTrustees received reimbursementfor expense5 incurred on behalf of the parish. Some
monies adwanced for the Uknaine Projett were reknrned when not needed.
Who
Role
Descyi
Qtsoen'5Jubilee expenses. Ukralne
Project Costs. Rettorfs DiscretFonary
Fund
HEDGE and Ukralne Projects costs.
ntal of hoyse for Ukralne fami
Building maintenance costs, skip hlre
and purchase of malntenance
consumables
Sklp hire, messy Church Costs
MaterfalsforrEnovatloTr of churth
wlndowslll
Par15h funday expenses
Amount
CanonJDM Pierce
Trustee
3.122
Reverend And Ha
Jim Haughey
Trustee
TnJAee
5.836
Karen Gately
Geoff Harman
Tnjstse
596
Trurtèe
Davld fAlms
rrustee
li
St. Finnian's Parish Church, Cregagh 2023
18

Notes to the flnanclal statsments f*Jr the ye3r ended 31st December 2022 {contlnued)
No trustee or a person related to a trustee had any personal interest In any contrart or transartion
entered into by the charity during the year.
11. Tanglble fixed a55ets
rilfinu5
and
¢4ulpment
Buil¢Mng¥
Total
At 1stJanw 2022
ifions
59O,OL
19.3n
709,373
At31stD*embBr2t122
Dgprecklon
At 1stJaMwty2032
68.827
17.906
[￿Spo8￿5
At 318tD¢C￿r2Tr22
17.6
Nèt bookvaluo
At31st Dec8rnbBr2022
13761 D2￿ber2021
50.549
12. Invesunents
Ilort Llstad
r#vȥttnents
Totsl
a*Ke etbEw￿aOF1heye?r
69,B58
I)(sFx15th tjurfngthey
F￿rva￿￿aIws}0n
BaigrK6Et endofthe year
AnatysTs Of Investsnows
61.199
61.199
OIIRr iknli4t8d
61,190
Qst. Flnnian's Parish Church, Cre888h 2023
19

Notes to the flnanclal statements for the year ended 31st December 2022 Icontinuedl
13. Debtors
ThlsY•4r
Las*Year
HMRC Grft
Insurance
Rates pre￿y￿ent
16,013
3,577
527
20.117
8.247
587
14. Creditors Amounts Due wlthln l Year
YNS Y88r
LastY4ar
AJkxa&or
450
15. Analysis of Net Assets Among Fund5
Goneral DesJgnat•d Rostricled
Fund#
Funds
Toial
4Z643
590,000
831643
61.199
2￿.791
450
992.7
61.199
255,547
45D
Netasset8 01318t t)&*￿20?2
299 190
595,$21
St. Flnrtian's Parish Church, Cregagh 2023
20

1 88 1 1 1 I I
Nvto
IiilElillsiitiiS1'11
LLr¢
uwuj
82LLt 11 &"

Notes to the financial statements for the year ended 31st December 2022 (continued)
Pur
se of R strirted Funds
PRP- The fund record5 the Property owned by the Parish but vested in the Representative
Church Body (RCBI and is restritted as pern)ission mtsst be soughtfrom both the RCB and the
Diocese of Down and Dromore prior to disposal of and use of the re50urce5 for oiher purp05e5.
ASC- A]locations & special Collections- Used for special collectlons and for distrlbution of
parish allocations
UGA- St Finnian's Uganda Project- Used to support work in East Africa such as school building,
school support and hospTEal supporL A150 Used by PaTi5h caterers. mainlyfor cateiin8 after
funern15, as a means of rdising fund5 for trnn5fer to Uwanda Projett
SPR- Used for Special Projects and to ensure that funds which will be depreciated are not
nderstood as available tD spend
Unrestricted funds
General- General Fund-for general running of the parish
BCF- Bullding & Contlngency Fund- a repository for funds raised towards major projects and
for general contingency
LOC- Local Outreach-To be used for Outreach both with in local environs
RFU - Response Fund - In years when allocations fdnnot be fully distributed used as a holding
fund for use in situations including but not limited to emergency appeals
DMF - Dynes Memorial Fund-To be used for Bible5 and Notes for Young People
REC~ Rector'5 Discretionary Fund- Fund5 given to Rettor to be used at his discretion alone
YCN - Youth Council- A Eeneric fund used to receive grants from organisations such as
Education authority for use to support children'5 and youth work
17. Collertion for Third Part&e5
Th18Ytrar
IA*tYpAr
CMsUanAk1
IT2
420
The amounts above have been included in total income for the year under Speclal Appea15 and in
total expendr(ure for the year under Expenditure on Charitable Attivities.
Qsr. FinnEan's Parish Church. Cregagh 2023
22