St. Finnian's Parish Church Cregagh
Statement of Financial Activities
For the perlod from 01 January 2025 to 31 December 2025
Unrestricted Restricted Endowment
funds
funds
funds
Total
funds
Prior
year
total
fund5
Note
Income and endowmentsArom.'
Donations and Legacies
Income from Charitable Activities
Investment Income
Other Incoming Resources
Total Income and Endowments
414,286
5,147
12,615
12,950
444,998
28,802
3,125
443,088 247,851
8,272
11,074
12,615
2,441
12,950
12,710
476,925 274,076
31,927
Expenditure on..
Expenditure on Raising Funds
Expenditure on Charitable
Activitie5
Total Empenditure
6,747
248
6,995
6,778
201,435
208,182
36,427
36,675
237.862 248,963
244.857 255,741
Net income / lexpenditurel
236,815
14,748)
232,067
18,335
Net gainslllossesl on investments
1,452
1,452
6,170
Transfers between funds
Net movement in fund5
16
124,3501
213,917
24,350
19,602
233,519
24,504
Reconclliation of funds
Total funds brought forward
Total funds carried forward
205,865
419,783
592,566
612.168
798,432 773,928
1.031,951 798,432
16

St. Finnian's Parish Church Crogagh
Balance sheet
As at: 31 December 2025
2025
2024
Note
Fixed assets
Tangible Assets
Investments
li
12
590,000
109,657
699,657
599,838
70,205
670,043
Current a55ets
Debtors
Cash at bank and in hand
13
16,662
317,285
333,947
6,424
123,150
129.574
Liabilitie5
Creditors.. amounts falling due within one year
14
11,6531
11,1851
Net current assets
332,294
128,389
Total assets les5 current liabilities
1,031,951
798,432
Total Net Assets
15
1,031.951
798.432
Represented by
Funds & Reserves
Unrestricted Funds
Unrestricted General Funds
16
149,706
107,702
Designated
Unrestricted Designated Funds
16
270,077
98,164
Restricted
Restricted Funds
Total Fund5 of the Parish
16
612,168
1,031,951
592,566
798,432
The notes on pages 14 to 23 are an integral part of these financial statements. The Financial Statements
on pages 12 to 13 were approved by the Board of Trustees on
£ty1312ulb.
and signed on
its behalf by..
Canon J Pierce- Rector
May Lavery- Secretary

Notes to the finantial statement5 for the year ended 31" December 2025
l. Accounting policies
I'he principal accounting policies adopted. judgements and key sources of estimation uncertainty in the
preparation of the linancial statements are as follows..
al Bas15 of preparation
The financial statements have been prepared on a going concern basis in accordance with Accounting and
Reporting by Charitie5.' Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
(Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021.
The Parish meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initiallv
recognised at historical cost and transaction value un5es5 Otherwise stated in the relevant accounting policv
notelsl.
b} Preparation of account5 on a gDing concern basis
The Parish Benerally meets it5 day to day working capital requirements from its annual income. The Trustees have
obtained and reviewed cash flow forecasts for the coming year and based on these a￿ satisfied that the Parish
has resources to provide a re3sonable expectation that it can continue to meet Its financial obliEations as they fall
due for the foreseeable future. Therefore, these financial statements have been prepared on a going concern
basis.
cl Income
Plate Collections and Weekly Envelopes are accounted for on a cash receipts basis as the amount is collected.
Income arising from the rental of Parish Halls to third parties is recognised when the parish has entitlement to the
funds, any performance conditions attached to the income have been met, it is probable that the income will be
received, and the amount can be measured reliably.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the
charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is
probable that the income will be received, and the amount can be measured reliably and is not deferred.
Legacies are included within Income under either unrestricted or restricted funds according to the terms under
which the donation is made, and when the amount can be quantified with reasonable certainty. Donations and
gifts in kind are brought Into the accounts at their fair value to the Parish.
dl Expendlture
Expenditure is recogni5ed once there is a legal or constructive obligation to malce a payment to a third party, it IS
probable that settlement will be required, and the amount of the ok)ligation can be Meas￿red reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
el Tangible asset5
The assets of the Parish comprise:
Church Building and Grounds
Parish Halls
Rectorv
Curatage

Note5 to the financial statements for the year ended 31, December 2025 Icontinuedl
l. Accounting policies Icontinuedl
The church Building and Ground5 are deemed to be Heritage assets as defined by the Charities SORP IFRS1021.
These Heritage assets are not included on the balance sheet 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 user5 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 construction/
acquisition and valuation approach for such a building lacks sufficient reliability. As a result, this building is not
recognisect 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 has been provided Dn the properties as the current estimated residual value 15 not
less than its carrying value and the remaining useful life currently exceed5 50 years.
Fixtures and Fithngs are recognised at cost and are depreciated on a straight-line basi5 at a rate of 15% per annum.
The asset5, residual value5 and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting
period. The effect of any change is accounted for prospectively.
The minimum threshold OF cost for an item to be capitalised as a lixed asset is £1,000.
Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the
difference between the new disposal proceeds and the carrying amount is recognised in the statement of financial
activities and included in 'Other operating1105sesl/gains'.
fl Investments
Fixed asset investments comprising investment properties, investments in equities and investment in RCB/CIT Unit
Trusts are initially recorded at cost and are then subsequently stated at fair value at each balance Sheet date.
Investments in unquoted investments are recorded at cost and are assessed annually for impairment. Unrealised
gains and losses represent the difference between the fair value at the beginning and end of the financial year or,
if purchased in the year, the difference between cost and fair value at the end of the year. Reèlised gains and
105ses represent the difference 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 unrealised gains 3nd losses in investments are reported within 'Net
Gains / ILos5es1 on Investments" within the Statement of Financial Activities.
gl Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid
investments Wlth original maturities of three months or less and bank overdrafts. Bank overdrafts are shown
within Creditors Amounts falling due within l year.
h) Financial instruments
The Parish only has financial assets 2nd financial liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at transaction price and subsequently measured at their
settlement value.
i) Fund5
Funds are classified as either restricted funds or unrestricted funds, defined as follows.
Restricted funds are funds subject to specific requirements as to their use which may be declaied by the donor or
with their authority or created through legal processes, but still within the wider objects of the Parish.

Notes to the financial statements for the year ended 31" December 2025 Icontinuedl
l. AccountinE policies Icontinuedl
Endowment funds are funds which have been given on the condition that the original capital sum is not reduced,
but the income there from is Used for the purpose defined In accordance with the objects of the Parish.
Unrestricted funds are expendable at the discretion of the Trustees in furtherance of the objects of the charity. If
parts of the unrestrlcted funds are earmarked at the discretion of the Trustees for a parb'cular purpose, they are
designated as a separate fund. This designation has an administrative purpose only and does not legally restrict
the Trustees, discretion to apply the fund.
2. Critical accounilnB judgements and estimatton uncertainty
Estimates and judgments made in the process of preparing the financial statements are continually evaluated
Bnd are based on historical experience and other factors, including expectations of future events that are
believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical
jLJdgments made in applying the Parish's accounting policies or that there are any critical accounting estimates
or assumptions which may have a significant risk of causing a material adjustment to carrying amounts of assets
2nd liabilities within the next financial year.
3. Donations and legacies
Unrestrltted
Restricted
2025
2024
Standing Orders/ Envelopes & Sundry Donations
Plate Collections
157,906
6,542
39,211
775 158,681 165,552
6,542
6,071
40,120
44,610
2,407
2,446
17,660
21,312 222,117
1,000
3,400
13,222
10,512
28,802 443,088 247,851
Tax Recovered on Donation5
909
Special Appeals
Gift Day
Legacies
Other
2,407
200,805
9,822
414,286
Sub Total
4. Income from Charltable Activities
Unrestricted
Restrlcted
2025
2024
Special Fundraising
Organisations
Rent of Hall & Publications
Weddlngs & Funerals
610
3,125
3,735
4,007
150
6,650
3,009
575
4,007
150
380
380
840
Sub Total
5,147
3,125
8.272
11,074

Notes to the financial statements for the year ended 31, December 2025 Icontinuedl
5. Investments
Unre5t¥icted
Restricted
2025
2024
Dividends Received
2,129
8,186
2,299
2,129
8,186
2,299
12,615
2,055
Rent for Curatage
ank Interest
386
Sub Total
12,615
2,441
6. Other Income
Unrestricted
Restricted
2025
2024
Collection for Curate
Grant5
Insurance
1,846
10,864
12,800
150
12,800
150
Sub Total
Total income and endowments
12,950
444,998
12,950
476,925
12,710
274,076
31,927
7. Analysis of Expenditure
Raising Funds
Fundraising costs
Offlce Costs
Unrestricted
Restricted
2025
2024
168
168
375
6,391
48
6,391
5,789
Publications
48
190
Bank Fees
308
80
388
424
Sub Total
6,747
248
6,995
6,778
Charitable Activitie5
Wages and Salaries
ClerEV Costs/Expen5es
Diocesan Costs/Assessment
Church Running Costs
Church Renovation Projett
Hall Costs
Grounds
Rectory & Curatage Costs
Rates
Parish Organisation Costs
Children & Young People
Charitable Donations
Administration Costs
Curates Leaving Gift & Other Gift5
Legal & Profe55ional Costs
Mission Activitieslother
Depreciation
Unrestrlcted
110,603
2,944
14,700
ii,iio
Restricted
2025
110,603
2,944
14,700
ii,iio
2024
137,595
14,604
12,562
2,609
13,183
2,252
12,468
7,089
4,360
3,539
5,297
468
782
7,083
2,000
7,671
1,482
9,838
201,435
208,182
12,468
7,089
4,360
3,539
5,297
468
37,209
7,083
2,000
7,671
1,482
9,838
237,862
244,857
3,351
3,894
469
31,886
6,766
1,846
720
311
14,899
248,963
255,741
36,427
Sub Total
Total Expenditure
36,427

Notes to the financial statements for the year ended 31" December 2025 Icontinuedl
Gain IILossl on Investment Assets
2025
2024
Reali5ed gains / Ilossesl on investments
1,452
1,452
6,170
6,170
Taxation
st Finnian's Cregagh is recognised as a charity for the purposes of applicable taxation legislation and is therefore
not subject to taxation on its charitable activities.
10, Analysis of staff costs, trustee remuneration and expenses, and the cost of key management
personnel
2025
2024
Salarles & Wages
110,603
137,596
The total Salaries & Wages costs decreased in 2025 as the Parish wa5 Wlthout a curate for six months.
The average number of employees during the year, calculated based on a head count, was as follows..
2025
2024
Ministerial support
Administration
Music staff
Total
There are no employees in receipt of employment benefits in exces5 of £60,000.
l(ey Management und Trustees
Key manaEement are deemed to COTnpri5e the Trustees. The parish paid expenses of £2,108 relating the running
Costs of the Rectory which is occupied by the Rector, and £2,649 relating to the Curatage. Two Trustees- the
Rector & the Curate received remuneration during the year.
For the year 2025 the values implemented by the Select Vestry of St Finnian'5 Parish Church, Cregagh were..
Rector
Curate
15,235
3,702
185
1,371
1,062
21,555
Stipend
Locomotory Exper)ses
Expense of Office Allowance
Employee Pension Contributions
Employee National Insurance
42,533
7,000
800
3,358
3,048
The curate was appointed on the 16 June 2025 and therefore hi5 remuneration was pro rata for 2025.

Notes to the financial statements for the year ended 31" December 2025 Icontinuedl
In 2025 eight Trustees received reimbursement for expenses incurred on behalf of the Parish.
Who
Role
Descriptlon
Alpha Course catering expense5
Fun Day and Christingle Service expenses
Malntenance consumables, Curtain Cleaning & Messy Church
Grounds & Hall Maintenance and repairs
Maintenance consumables & shelving
Software subscriptions & printer consumables
Pickleball expen5e5
Santa Outfit
Amount
Canon Jonathan Pierce
Trustee
S6
Rev Dr Ryan Hawk
Karen Gatelv
Geoff Harman
Trustee
108
Trustee
545
Trustee
191
Jim Haughey
Brian Lavery
May Laverv
Trevor Smyth
Trustee
1,844
285
Trustee
Trustee
loo
Trustee
80
11. Tan8lble fixed assets
Fixtures, fittings
and equlpment
Buildings
Total
Cost
At l January 2025
Additions
Disposals
At 31 December 2025
590,000
119,373
709,373
590,000
119,373
709,373
DÈpretiatlon
At l January 2025
Depreciation
Disposals
At 31 December 2025
109,535
9,838
109,535
9,838
119,373
119.373
Net book value:
At 31 December 2025
At 31 December 2024
590,000
590,000
590,000
599,838
12. Investments
Non-Listed
Investment5
Balance at beginning of the year
70,205
38,000
Additions during the year
Disposals during the year
Fair Value gain on investments
Fair Value (Ios51 on investments
1,780
13281
109,657
Balance at end of the year
Analysls of Investments
Investments in COI Trustees (General Fund)
RCB Unit Trusts INII (Building & Contingency Fund)
Other unlisted investments
71,985
37,672
109,657

Notes to the financlal statements for the year ended 31" December 2025 Icontinuedl
13. Debtors
2025
2024
HMRCGift Aid
1,908
1,072
Insurance Prepayment
Rates Prepayment
FLtneral Tea Income
3,531
898
4,508
844
325
Legacy
10,000
16,662
6,424
14. Creditors Amounts Due within l Year
2025
2024
962
1,498
143
12
Gazette
Funeral Tea Expenses
Payroll Liabilitie5
95
128
1,653
1,185
15. Analy515 of Net A55ets Among Funds
Unrestricted
Funds
Designated
Funds
Restricted
Funds
590,000
Total
590,000
109,657
333,947
11,6531
1,031,951
Fixed Assets
Investments
71,985
79,374
11,6531
149,706
37,672
232,405
Current Assets
Current Liabilitie5
Net assets at 315t December 2025
22,168
270.077
612,168

Notes to the financial statements for the year ended 31" December 2025 Icontinuedl
16. Funds of the Parish
Brought
Forward Sncome
Gain/Loss
Investments
Fund
Expenditure
Transfers
Balance
Unrestricted General Fund
107,702
225,148
1173,2921 111,6311
1,780
149,706
General Fund Total
107,702
225,148
1173,2921 111,6311
1,780
149.706
Unrestricted Designated Funds
Building & Contingency Fund
Church of Ireland Men's Societv
Cregagh Crafters
Dynes Memorial Fund
Flower Fund
Ladies Friendship Group
Local Outreach
Ministry Support Fund
Parishioner Mission Account
68,978
595
1,405
504
420
760
2,738
134,020
116,8831
181
11,3091
13281
185,787
15901
15001
1,997
1,593
504
293
654
3,559
63,935
492
539
4,670
360
956
1,243
1,613
74,935
11,1031
11,2491
11,0621
20
iiooi
270
Iii,0001
492
763
130
iiooi
11421
11241
Rector's Discretionary Fund
Response Fund
Special Projects
St Finnian's Toddler5
St Firinian's Choir
St Finnian's Youth Council
Youth Fellowship Fund
Designated Funds Total
4,683
360
9,843
3,696
669
2,080
941
98,164
19,8381
11,0711
iiooi
12,0251
1,635
754
1,801
12501
1701
13751
4,010
1,252
1,482
941
270,077
219,849
134,8901 112,7191
(3281
Restricted Funds
Charitable Giving & Special
Collections
Fields of Life
Property
70
2,496
590,000
23,728
8,199
128,8271
17,8481
24,350
19,321
2,847
590,000
Restricted Funds Total
592,566
31,927
136,6751
24,350
612,168
Total All Funds
798,432
476,925
1244,857)
1,452
1,031,951
I¢T. .% I. I.'INNIIAN'S I)AIII&I-I (.'1 IL.,IIC.11 (:IIF.CiACi}1402h

Notes to the tinancial statements for the year ended 31, Decembe¥ 2025 (continued}
Pur
ose of Unrestricted Funds
General Fund- for general running of the Parish
Pur
ose of Unrestrlcted Desl
nated Funds
Building & Conilngency Fund- a rep051tory for funds raised towards major projects and for general
contingency.
Church of Ireland Men's Society- To support the worl< of the COI Mèn's Society group in the Parish.
Cregagh Crafters- To support the work of the Cregagh Crafters group in the Parish.
Dynes Memorial Fund - To be used for Bibles and Notes for Young People.
Flower Fund- To cover the cost of flower decorations within the Church.
Ladies Friendship Group- To support the work of the Ladies Friendship group in the Parish.
Local Outreach- To be used for Outreach within local community.
Ministry Support Fund- To be used to support 'Minlstry' & Ministry programme5 Wlthin the Parish
Pickleball- To support the work of the Pick1eball group in the Parish
Parishioner Mission Account- To support parishioners engaged in a mission activity outside of the Parish.
Rector'5 Discretionary Fund - Funds given to Rector to be Ljsed at his discretion alone.
Response Fund - In years when allocations cannot be fully distributed, used as a holding fund for use in
situations including but not limited to emergency appeals.
Special Projects - Used for Special Projects and to ensure that funds which will be depreciated are not
understood as available to spend.
St Finnian's Choir- To support the work of the Choir in the Parish.
St Finnian's Toddlers- To support the work of the Toddlers group in the Parish.
st Finnian's Youth Council - A generic fund used to receive grants from org3nisations such as Education
authority for use to support children's and youth work.
Youth Fellowship - To support the work of the Youth Fellowship in the Parish
Pur
ose of Restricted Funds
Charitable Glvlng & Special Collections - Used for any special collection and for distribution of parish
allocations.
Fields of Llfe - Used to support work in East Africa such as schoo5 building, school support and h05Pltal
support.
Property - 'fhe fund records the Property owned by the Parish but vested in the Representative Church
Body IRCBI and is restricted a5 permission must be sought from both the RCB and the Diocese of Down
and Dromore prior to disposal of and use of the resources for other purposes.

Notes to the financial Statements for the year ended 31" Deceynber 2025 Icontinuedl
17. Annual Charitable Allocations from Parish Funds
Charity Namelpurpose
Divine Healing Ministries
Church's Ministry of Healing
Royal British Legion
The Hub at Queens
Summer Madne5S
Diocesan Church Planting
Alpha UK
Local Otjtreach
Christians Against Poverty
Marie Curie
Diocesan - Outreacth to Asylum Seekers & Refugees
ChLSrch Mission Society, Ireland
Church Mission Society, Ireland IM Partners)
South American Missionary Society
The Lepr05y Mission
open Doors
Diocesan Maridi Advent Appeal
Bishops, Appeal
Boys Brigade
2025
Categorv
Home Mission
Home Mission
Home Mission
Home Mission
Home Mission
Home Mission
Home Mission
Home Mission
Home Relief Agencv
Home Relief Agency
Home Relief Agency
Overseas Mission
Overseas Mission
Overseas Mission
Overseas Mission
Overseas Mission
Overseas Mission
Overseas Relief Agency
Parish Organi5ations
690
690
270
690
690
I,iio
690
270
4,830
690
530
1,170
1,520
2,620
2,620
1,380
2,000
3,450
710
26,620
TOTAL
18. Parish Collections for Third Parties
2025
2024
1,195
Bishops, Appeal
CAP
Christian Aid
Leprosy Mission
Mothers Union 'Big Sing,
Tear Fund
1,177
20
20
65
158
1,018
1,032
2,407
2,278
The amounts above have been included in total income for the year under Special Appeals and in total
expenditure for the year under Expenditure on Charitable Activities. An additional £350 was passed on
directly to Tear Fund in cheques that had been made payable to that charity. Similarly, £395 was passed
on directly to the Church of Ireland Bishops, Appeal in cheques that had been made payable to that
Charitv.