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Contents
Statement of Receipts and Payments ............................................................................................................ 3 Statement of Assets and Liabilities ................................................................................................................. 4 Notes to the financial statement ...................................................................................................................... 5 Accounting Policies ........................................................................................................................................... 5 Receipts and Payments Account................................................................................................................. 5 Reconciliation of cash funds .......................................................................................................................... 5 Assets Retained for the Parish’s Own Use ............................................................................................... 5 Investments ........................................................................................................................................................... 6 Purposes of Restricted Funds ....................................................................................................................... 6
Statement of Receipts and Payments
| Unrestricted | Restricted | Endowment | Total | Prior year | |
|---|---|---|---|---|---|
| funds | funds | funds | funds | total funds | |
| Receipts | |||||
| Donations and legacies | |||||
| Donations and plate collection | 130,551 | — | — | 130,551 | 106,548 |
| Legacies | 25,081 | — | — | 25,081 | 24,652 |
| Gift days | — | — | — | — | 7,890 |
| Other donations | — | 9,247 | — | 9,247 | 13,522 |
| Gift Aid | 23,820 | 1,017 | — | 24,838 | 32,656 |
| Income from charitable activities | |||||
| Book and magazine sales | 147 | — | — | 147 | 56 |
| Investments | |||||
| Bank and deposit interest | 234 | — | — | 234 | 307 |
| Investment income | 20 | 1,762 | — | 1,782 | 1,663 |
| Other income | |||||
| Grants | — | 10,000 | — | 10,000 | 33,000 |
| Other receipts | 4,734 | — | — | 4,734 | 7,204 |
| Total receipts (before sale of assets) | 184,589 | 22,027 | — | 206,616 | 227,502 |
| Sale of assets | 25,056 | — | — | 25,056 | — |
| Total receipts | 209,646 | 22,027 | — | 231,673 | 227,502 |
| Payments | |||||
| Raising funds | 126 | — | — | 126 | 359 |
| Expenditure on charitable activities | |||||
| Wages and salaries | 106,855 | 12,699 | — | 119,555 | 108,188 |
| Diocesan costs / assessment | 13,936 | — | — | 13,936 | 12,878 |
| Glebe costs | 26,819 | — | — | 26,819 | 5,839 |
| Church running costs | 4,362 | 11,663 | — | 16,026 | 11,207 |
| Parish centre costs | 3,148 | — | — | 3,148 | 3,411 |
| Charitable donations | — | — | — | — | 7,752 |
| Bursaries | 14,330 | 7,332 | — | 21,662 | 16,981 |
| Book ministry | 169 | 45 | — | 214 | 237 |
| Youth and student ministry | 147 | 1,874 | — | 2,021 | 3,523 |
| Discipleship events | 12,619 | 28 | — | 12,647 | 16,697 |
| Hospitality | 1,019 | 155 | — | 1,175 | 1,023 |
| Other payments | 285 | 80 | — | 366 | 369 |
| Mission | 5,620 | 15,173 | — | 20,793 | 14,231 |
| Other expenditure | |||||
| Administration | 4,147 | 8,060 | — | 12,208 | 7,811 |
| Total payments | 193,588 | 57,112 | — | 250,701 | 210,512 |
| Excess (deficit) of receipts over payments before | 16,057 | (35,085) | — | (19,027) | 16,990 |
| transfer | |||||
| Transfers | |||||
| Gross transfers betw een funds - in | 27,107 | 16,889 | — | 43,996 | 35,378 |
| Gross transfers betw een funds - out | (41,774) | (2,222) | — | (43,996) | (35,378) |
| Excess (deficit) of receipts over payments | 1,390 | (20,417) | — | (19,027) | 16,990 |
| Reconciliation of funds | |||||
| Excess of receipts over payments at beginning of year | 70,930 | 48,454 | — | 119,384 | 102,394 |
| Surplus (deficit) this year end | 1,390 | (20,417) | — | (19,027) | 16,990 |
| Excess of receipts over payments for the year | 72,320 | 28,036 | — | 100,357 | 119,384 |
| Represented by | |||||
| Unrestricted | |||||
| General fund | 71,856 | — | — | 71,856 | 68,133 |
| Designated | |||||
| Church Weekend 2020 | 464 | — | — | 464 | — |
| Church w eekend 2019 | — | — | — | — | 2,797 |
| Restricted | |||||
| Building and Fabric | — | 16,646 | — | 16,646 | 28,087 |
| Children's Ministry | — | 11,269 | — | 11,269 | 13,682 |
| Joan Nicolson Memorial | — | — | — | — | 5,551 |
| Theological Training | — | 120 | — | 120 | 1,133 |
| There may be minor discrepancies in the totals if the pence are not being shown | There may be minor discrepancies in the totals if the pence are not being shown |
Statement of Assets and Liabilities
All Saint's Church Belfast - 101981
Statement of Assets and Liabilities (by fund) As at: 31 December 2019
| Previous | |||
|---|---|---|---|
| Balance | balance | ||
| Investments | |||
| Investments held by the parish - Asset | Investments held by the parish - Asset | ||
| Cooke Lew is Bequest | Endow ment | 648 | 586 |
| School House Trust | Unrestricted | 50,191 | 68,505 |
| 50,839 | 68,641 | ||
| Investments | 50,839 | 68,641 | |
| Tangible assets | |||
| Rectory - Asset | |||
| General fund | Unrestricted | 480,000 | 480,000 |
| 480,000 | 480,000 | ||
| Tangible assets | 480,000 | 480,000 | |
| Cash at bank and in hand | |||
| 5110: Cash at bank - current account - Asset | |||
| Building and Fabric | Restricted | 16,646 | 28,087 |
| Children's Ministry | Restricted | 11,269 | 14,060 |
| Church Weekend | Designated | 464 | — |
| 2020 | |||
| Church w eekend 2019 | Designated | — | 2,797 |
| Evangelism and | Designated | — | 55 |
| Development | |||
| Joan Nicolson | Restricted | — | 5,551 |
| Memorial | |||
| Theological Training | Restricted | 120 | 1,133 |
| General fund | Unrestricted | 71,856 | 67,700 |
| 100,357 | 119,384 | ||
| Cash at bank and in hand | 100,357 | 119,384 | |
| Grand Total | 100,357 | 119,384 | |
| Other assets | |||
| Outstanding Gift Aid | |||
| Theological Training | Restricted | 113 | 288 |
| Mission | Restricted | 894 | 238 |
| General fund | Unrestricted | 6,848 | 10,184 |
| 7,855 | 10,710 |
Notes to the financial statement
Accounting Policies
Set out below are the principal accounting policies which have been adopted in the compilation of the Receipts and Payments Account and the Statement of Assets and Liabilities
Receipts and Payments Account
All items of income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basis.
Reconciliation of cash funds
| Total cash funds at beginning of year | 119,384 |
|---|---|
| Receipts during the year | 231,673 |
| Payments during the year | (250,701) |
| Total cash funds at end of year | 100,357 |
Assets Retained for the Parish’s Own Use
The assets of the Parish, retained for its own use comprise:-
-
Church building
-
Parish centre
-
Rectory
-
Fixtures and fittings
The Church building is deemed to be a Heritage Asset as defined by the Charities SORP (FRS102). This Heritage Asset is not included in the Statement of Assets and Liabilities 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 users of the accounts and to the parish. The Parish Centre is physically attached to the church and consequently is not separable as an individual asset. As such it is deemed to be a Heritage Asset.
The rectory is held by independent trustees for the use of the parish. It is recognised at cost, being the purchase value of the property at 8 April 2015. No depreciation has been provided on the rectory as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years.
All Saints’ Church has the following fixtures and fittings:
-
Photocopier and three computers
-
Chairs and seating
-
Kitchen equipment
-
Electric piano
-
Digital projectors
-
Pipe organ
Investments
Fixed asset investments comprising investments in equities (ordinary shares) and investment in RCB/CIT Unit Trusts are initially recorded at cost and are then subsequently stated at fair value at each year end date.
-
Cooke Lewis Bequest invested in CIT unit trust managed by Church of Ireland Trustees.
-
School House Trust invested in securities managed by Cunningham Coates, Belfast.
Purposes of Restricted Funds
Fund Purpose Building and Fabric Provide for upkeep and use of the church building. Fund Work with children and young people within and beyond our Children’s Ministry congregation. Joan Nicolson For the advancement of Christian Faith in Burundi. All monies Memorial Fund have been allocated and this fund is now closed. Mission Fund Donations to other groups and individuals to advance the (Special Objects) Christian Faith. Theological Training Provide support for those studying for Christian ministry. Fund
Signed on behalf of the trustees:
Rev T Johnston (Chair)
D Scholes (Treasurer)
18 June 2020