The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **(INCLUDING INCOME & EXPENDITURE ACCOUNT)** |**Notes**
**Income from:**
Donations and legacies
**3**
Charitable Activities
**4**
Investments
**5**
**Total Income**
**Expenditure on:**
Charitable activities
**7 & 19**
Total Expenditure
**Net (outgoing)/incoming**
**resources before transfers**
Net gains/(losses) on investments
**12**
**Net income/(expenditure) for the**
**year/ Net movement in funds**
**Transfers**
Total funds brought forward
**22**
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
241,842
1,020
17,853
260,714
300,745
300,745|**Restricted**
**funds**
**£**
5,406
57,751
-
63,157
52,033
52,033|**Total**
**Total**
**2023**
**2022**
**£**
**£**
247,248
195,829
58,771
32,721
17,853
17,283
323,872
245,833
352,778
316,052
352,778
316,052
(28,907)
(70,218)
16,626
(46,759)
(12,281)
(116,977)
-
-
1,325,884
1,442,861
1,313,603
1,325,884| |---|---|---|---| ||(40,031)
16,648
(23,383)
(1,095)
869,360|11,124
(22)
11,102
1,095
456,524
468,721|| ||844,882||| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities The notes on pages 11 to 23 form part of these financial statements. The financial statements were approved by the Trustees on **----- Start of picture text -----**
2024
**----- End of picture text -----**
Mr Michael Hamer Hon. Treasurer The Revd Trevor Johnston Chairman 9 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 ## **BALANCE SHEET** ## **(AS AT 31 DECEMBER 2023)** |**Notes**
Fixed assets
Tangible assets
**13**
Investments
**14**


Current assets
Debtors
**15**
Cash at bank and in hand
Creditors: amounts falling due
within one year
**16**
Net current assets

**Total assets less current liabilities**

Income funds
Restricted funds
**19**
Unrestricted funds

**Total funds**|**2023**|**£**
588,319

628,170

1,216,489

97,114

1,313,603

468,721

844,882

1,313,603||**2022**| |---|---|---|---|---| ||**£**
3,712

99,545

103,257

(6,143)
||**£**
3,156

127,452

130,608

(4,120)
|**£**
583,217
616,180| |||||1,199,396
126,487| |||||1,325,884| |||||456,524
869,360| |||||1,325,884| The notes on pages 11 to 23 form part of these financial statements. The financial statements were approved by the Trustees on **----- Start of picture text -----**
2024
The Revd Trevor Johnston
Chairman
**----- End of picture text -----**
Mr Michael Hamer Hon. Treasurer 10 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 ## **NOTES TO THE FINANCIAL STATEMENTS** ## **(FOR THE YEAR ENDED 31 DECEMBER 2023)** ## **1. Accounting Policies** ## **1.1. Charity Information** The United Parish of Saint Nicholas and All Saints is a constituted parish of the Church of Ireland and is governed and managed under the Constitution of Church of Ireland and the regulation of the Diocese of Connor. The United Parish was formed on 1[st] January 2023 following the merger of two parishes: Saint Nicholas Parish Church, Lisburn Road and All Saints Parish Church, University Street. The United Parish is an unincorporated charity registered with the Northern Ireland Charities Commission. The registered office is 1 Cadogan Park, Belfast, BT9 6HG. The church buildings are Saint Nicholas Church, 507 Lisburn Road, Belfast, BT9 7EZ and All Saints Church, University Street, Belfast, BT7 1LB. ## **1.2. Accounting Convention** The financial statements have been prepared in accordance with the charity's Constitution, and Accounting and Reporting by Charities: 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 (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland. The United Parish is a public benefit entity as defined under FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. ## **1.3. Going Concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Therefore, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.4. Charitable Funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.5. Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 11 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 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. If the amount is not known, the legacy is treated as a contingent asset. ## **1.6. Expenditure** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. Expenditure on charitable activities includes costs undertaken to further the purposes of the charity. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll, and governance costs which support the charity's activities. These costs have been allocated to expenditure on charitable activities. The basis on which support costs have been allocated are set out in the notes to the accounts. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. ## **1.7. Tangible Fixed Assets** The assets of the United Parish comprise: - Church Buildings (Lisburn Road & University Street) - Parish Centres (Cadogan Park & Canterbury Street) - Glebe House (Harberton Park) - Fixtures & Fittings The Church Buildings are deemed to be Heritage assets as defined by the Charities SORP (FRS102). 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 users of the accounts and to the United Parish. The Parish Centre on Canterbury Street is physically attached to the All Saints church building and as such is not separable as an individual asset. As such it is deemed to be a Heritage asset and no value is ascribed to it in 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 users of the accounts and to the parish. The Parish Centre on Cadogan Park is recognised at cost of construction. No depreciation has been provided on the parish centre building as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. The Glebe House is recognised at the fair value recorded when Glebe House was utilised as investment property until 2021. No depreciation has been provided on Glebe House as the 12 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. Assets purchased out of restricted funds will be written off in the year of purchase unless they are valued at over £6,000 in which case, they will be added to the list of tangible fixed assets. These assets will be assessed in subsequent reports for valuation changes or depreciated as deemed appropriate by the trustees. Fixtures and fittings are written off in the year of purchase unless they are valued at over £2,000 in which case, they will be depreciated on a straight-line basis over 5 years. ## **1.8. Fixed Asset Investments** Fixed asset investments are initially measured at transaction price excluding transaction costs and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. Fair value is market value for quoted investments and RCB units are valued at redemption value as provided by the RCB. ## **1.9. Cash & Cash Equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other shortterm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within Creditors Amounts falling due within 1 year. ## **1.10. Financial Instruments** The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _Basic Financial Assets_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _Basic Financial Liabilities_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 13 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _Derecognition of Financial Liabilities_ Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. ## **1.11. Employee Benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.12. Pension Obligations** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2. Critical Accounting Judgements & Estimates** Estimates and judgments made in the process of preparing the financial statements are continually evaluated and 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 judgments 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 and liabilities within the next financial year. 14 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 ## **3. Donations and legacies** |**Note**

Members' contributions
Donations and gifts*
Gift Aid Claimed
**22**


***Donations and Gifts**
Plate Collection
Other Income
Bequests
Christians Against Poverty
Ministry Training Fund|**Unrestricted**
**funds**
**£**
156,000
21,898
63,944

241,842

5,788
871
15,240
-
-
21,898|**Restricted**
**funds**
**£**
-
5,406
-

5,406

-
-
-
2,176
3,230
5,406|**Total**
**2023**
**£**
156,000
27,305
63,944
247,248

5,788
871
15,240
2,176
3,230
27,305|**Total**
**2022**
**£**
150,877
23,931
21,021| |---|---|---|---|---| |||||195,829| |||||1,652
2,314
19,964
-
-| |||||23,931| A Gift Aid claim of £26,033 was received in 2023. This was attributed to All Saints income for 2022, however due to receipts and payment reporting of the All Saints 2022 financial report, the Gift Aid was not accrued (see Note 22) therefore, the 2023 Gift Aid Claimed appears disproportionate to the 2023 Donations. In respect of 2022, the £195,829 received was all unrestricted funds. ## **4. Income from Charitable Activities** |


Property Use
Grants & Bursary
Books
Tickets

|**Unrestricted**
**Funds**
£
1,020
-
-
-
1,020|**Restricted**
**Funds**
£
-
45,505
2,438
9,809
57,751|**Total**
**2023**
**£**
1,020
45,505
2,438
9,809
58,771
|**Total**
**2022**
**£**
620
30,384
471
1,246| |---|---|---|---|---| |||||32,721| In respect to £32,721 received from Charitable Activities in 2022, £32,101 was restricted. ## **5. Income from Investments** |**5. Income from Investments**||| |---|---|---| |RCB Unit Trust (NI)
School House Fund
Other investment income
|**2023**
**£**
16,003
1,568
282
17,853|**2022**
**£**
15,353
1,522
408| |||17,283| All income received from Investments in 2022 and 2023 was unrestricted. 15 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 ## **6. Non-exchange transactions** The charity has benefitted from the contribution of unpaid general volunteers. Their contribution is not accounted for due to the lack of a reliable basis of measurement. ## **7. Expenditure on Charitable activities** |**7. Expenditure on Charitable activities**||| |---|---|---| |**Note**


Staff Costs (Clergy & Non-Clergy)
**11**
Contribution to Central pension costs
**18**
Diocesan General Fund
Insurance

Utilities & rates
Property Repairs & Maintenance
Stationery & Licenses
Broadband
Fire Extinguishers
Bank Fees

Children's & Youth Ministries
Adult & Seniors Ministries
Lisburn Road Outreach
Staff Conference Fees

ASC Feasibility Study

Special Objects - Mission Giving
**8**

Miscellaneous




**Support Costs**
**9**

Share of support costs
Share of governance


|**Total**
**2023**
**£**
173,025
12,340
22,066
9,339
19,256
17,583
2,495
1,001
323
325
3,765
2,704
1,800
2,125
10,320
21,030
907

300,404
341
-

300,745|**Total**
**2022**
**£**
130,710
11,219
22,719
8,722
20,131
21,367
2,233
1,263
345
238
2,523
252
546
-
15,082
19,440
2,079| |||258,868
731
-| |||259,599| **All the above expenditure for 2022 and 2023 was unrestricted. Refer Note 19 for Restricted expenditure.** 16 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 ## **8. Special Objects - Mission Giving** |**Special Objects - Mission Giving**|||||| |---|---|---|---|---|---| |

**Support costs**


Accountant Services
Independent Examiner
|Arab World Ministries
Crosslinks
Logos Ministries
Agape
Clive West Trust
Youth For Christ
GAFCON
Christian Institute
SAMS
Connor Council for
Mission
Friends International
**Support**
**Governance**
**costs**
**costs**
**£**
**£**
341
-
-
-


341
-||**2023**
**£**
7,500
6,450
2,800
1,750
600
450
400
400
250
230
200
21,030
**2023**
**£**
341
0
341|












|**Total 2022**
**£**| ||||||19,440
**2022**
**£**
731
0| ||||||731| ## **9. Support costs** ## **10. Trustees** The Rector received remuneration for pastoral services in line with Church of Ireland Rector's Stipend, locomotory expenses, office expenses, and allowances for communication and evangelism totalling £47,540 (2022 - £45,073). The Curate received renumeration for pastoral services in line with Church of Ireland Curate's Stipend, locomotory expenses, office expenses, and allowances for communication totalling £31,889 (2022 - £30,788). Pension contributions of £6,441 (2022: £5,909) for the Rector and £5,152 (2022: £4,579) for the Curate were paid for 2023. Both Rector and Curate are provided with free accommodation to fulfil their roles. No other trustee received remuneration, benefits or payment for professional or other services. 17 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 ## **11. Employees** ## **Number of Employees** The average monthly number of employees (clergy and non-clergy) during the year was: ||**2023**|**2022**| |---|---|---| ||**Number**|**Number**| |
|6|5| |**Employment Costs**|**2023**|**2022**| ||**£**|**£**| |Gross Wages|153,994|119,527| |Employers National Insurance|8,872|3,703| |Employers Pension Contributions
|10,159|7,480| ||173,025|130,710| |
No employees received emoluments in excess of £60,000 during the year.||| |The total amount of employee benefits received by|key management personnel|was £nil| |(2022 - £nil).||| ## **12. Net gains/(losses) on investments** |

Gain/(loss) on Unrestricted Investments
Gain/(loss) on Restricted Investments
|**2023**
**£**
16,648
(22)
16,626|**2022**
**£**
(44,774)
(1,985)| |---|---|---| |||(46,759)| 18 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 ## **13. Tangible Fixed Assets** |
Cost / Value
At 1 January 2023

Valuation Changes


At 31 December 2023

Carrying amount
At 31 December 2023

At 31 December 2022
**14. Fixed Asset Investments**


Cost or valuation

At 31 December 2022

Valuation changes

Additions/(Disposals)


At 31 December 2023


Carrying amount
At 31 December 2023



At 31 December 2022


**15. Debtors**
Amounts falling due within one year:

Prepayments and accrued income

**16. Creditors: amounts falling due within one year**


Accruals and deferred income
||**Glebe**
**House**
**(Restricted)**
**£**
400,000
0
400,000

400,000

400,000
**Listed**
**Investments**
**£**
4,805
(169)
(4,635)
0

0

4,805


|
**Parish Hall**

**(Unrestricted)**

**£**

183,217

5,102

188,319


188,319


183,217
**Unlisted**
**Investments**
**£**
611,375
16,795
-
628,170

628,170

611,375

**2023**
**£**
3,712

**2023**
**£**
6,143
|








|**Total**
**£**
583,217
5,102| |---|---|---|---|---|---| ||||||588,319| ||||||588,319| ||||||583,217
**Total**
**£**
616,180
16,626
(4,635)
628,170
628,170
616,180
**2022**
**£**
3,156
**2022**
**£**
4,120| ||||||| ||||||| ||||||| ||||||| ||||||| ## **17. Taxation** 19 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 The organisation is a registered charity and as such is entitled to certain tax exemptions on income and profits from investments and surpluses on any trading activities carried on in furtherance of the charity's primary objectives if these profits and surpluses are applied solely for charitable purposes. ## **18. Financial Commitments** The central defined benefit pension scheme for clergy was in deficit and was closed to new members on 31 May 2013. A plan for remedying the deficit was put in place over a 10 year period to finish in 2023. This plan would require each parochial unit to contribute 15% of Minimum approved stipend per annum irrespective of whether or not they had a serving clergyman amounting to £12,340 this year (2022: £11,219). With 2023 being the final year of this payment, there is no remaining financial commitment to the central defined benefit pension scheme. ## **19. Restricted Funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations held on trust for specific purposes: |Balance at 1

January

2023

£
Glebe House (Asset)
400,000
School House Fund (Investment) 51,126
Evangelism Development Fund
-
Ministry Training Fund
-
Church Weekend Away
-
Christians Against Poverty
-
Flower fund
5,398
Curate Bursary (RCB)
-
Books
-
Conference Tickets
-
Gazette
-

456,524|Movement in funds
Incoming Resource
Investment
Resources
Expended
Value
Change



£
£
£

-
-
-
-
-
(22)

43,005
(35,085)
-

3,230
0
-

8,757
(10,807)
-

2,176
(900)
-

-
(207)
-

2,500
0
-

2,438
(3,837)
-

943
(1,062)
-

109
(135)
-
63,157
(52,033)
(22)|Transfers
Balance
at 31
December
2023

£
£

-
400,000

-
51,104

7,920

3,230

2,050
0

1,276

5,191

(2,500)
0

1,400
0

119
0

27
0| |---|---|---| |||1,095
468,721| 20 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 Glebe House: This property is a restricted tangible asset for the use of clergy employed by the United Parish. School House Fund: This is a fund raised from the sale of the All Saints School House. The capital of this investment is restricted for the use in education. Any dividend income received is available for unrestricted expense. Evangelism Development Fund (EDF): This fund is supports the church's Apprenticeship Scheme, ministry, and outreach in the Holylands area of Belfast. In 2023 the United Parishes received a significant grant from the Church of Ireland Priorities Fund of £33,000. This was used to support our outreach work in the Holylands area and enabled the purchase of a coffee van (£5,700) for use in midweek outreach. This fund carries forward a balance of £7,920 to further support ministry apprentices and Holylands outreach into 2024 and beyond. Ministry Training Fund: This fund was set up in 2023 to support members of our church congregation who are pursuing further education for a life in full-time Gospel ministry. Donations were received into this fund in 2023 to support a candidate commencing studies in 2024. Church Weekend Away: This fund receives payments to cover the cost of the parish weekend. Transfers of £2,050 were made in 2023 to cover the cost of staff members, speaker fees and expenses, and to provide bursaries for those of limited means. Christians Against Poverty: The parish uses this fund to support the work of a Debt Coach who operates in the South & West Belfast Debt Centre. The Debt Coach commenced operations in the second half of the year, therefore only incurring half of the annual costs. The balance of £1,276 will be carried forward to support the work of the Debt Coach into 2024. > [Flower Fund:][ This fund covers the cost of flowers used in the church. The fund carries forward a balance of £5,191. ] Curate Bursary (RCB): This grant is received from the Representative Church Body to help parishes with the costs of taking on a Curate. £2,500 was used towards the Curate's stipend. Books, Conference Tickets, & Gazette: Funds received for the sale of books, conference tickets, and Church of Ireland Gazette acquired by the church and sold at cost price (the parish made no profit from sales). In 2023 transfers of £1,545 were made to cover staff conference tickets and books that were purchased by the church as gifts. 21 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 ## **20. Analysis of net assets between funds.** |**20. Analysis of net assets between funds.**|||| |---|---|---|---| |
Fund balances at 31 December 2023
are represented by:
Tangible assets

Investments
Current assets/(liabilities)



Fund balances at 31 December 2022
are represented
by:
Tangible assets

Investments
Current assets/(liabilities)
|**Unrestricted**
**funds**
**£**
188,319
577,066
79,496
844,881
**Unrestricted**
**funds**
**£**
183,217
565,054
121,089
869,360|**Restricted**
**funds**
**£**
400,000
51,104
17,617
468,721
**Restricted**
**funds**
**£**
400,000
51,126
5,398
456,524|**Total**
**2023**
**£**
588,319
628,170
97,114| ||||1,313,603
**Total**
**2022**
**£**
583,217
616,180
126,487| ||||1,325,884| ## **21. Related party transactions** There were no disclosable related party transactions during the year other than those detailed in note 10 (2022: none). ## **22. Disclosures Relating to the Charity Merger** The year ending 31[st] December 2023 is the first financial year of the United Parish of St Nicholas and All Saints. The combining charities were: - Belfast/Belfast: St. Nicholas/St. Nicholas/Connor/Church of Ireland - Registered Charity Number: NIC103263 - HMRC Reference Number: XN45913 - Belfast/Belfast: All Saints/All Saints/Connor/Church of Ireland - Registered Charity Number: NIC101981 - HMRC Reference Number: XN47419 The date of the charity merger was 1[st] January 2023. The Statement of Financial Activities (SoFA) below relate to the financial year ending 31[st] December 2022, this being the last financial year of the two charities as separate entities. The St Nicholas 2022 financial reports were prepared and reported as accrual accounts. The All Saints 2022 financial reports were prepared and reported as receipts and payments accounts. A Gift Aid claim of £26,033 was received to the United Parish in 2023 making the total Gift Aid received in 2023 appear disproportionate to the donations received. However, this claim was attributed to the All Saints 2022 financial year but had not been accrued due to the receipts and payments reporting. Any other potential accruals were not material to the accounts. 22 The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023 ## **SoFA COMPONENTS FOR THE PREVIOUS REPORTING PERIOD 31 December 2022** ||**St Nicholas**|**All Saints**|**Combined**| |---|---|---|---| ||**£**|**£**|**£**| |Total Income|48,583|197,250|245,833| |Total Expenditure|51,446|264,606|316,052| |Net Income/(expenditure)|(2,862)|(67,356)|(70,218)| |Other Gains/(losses)|(44,774)|(1,985)|(46,759)| |Total Funds Brought Forward|1,216,931|225,930|1,442,861| |**Total Funds Carried**
**Forward**|1,169,295|156,589|1,325,884| ## **ANALYSIS OF NET ASSETS ON 1[st] JANUARY 2023** ||**St Nicholas**|**All Saints**|**Combined**| |---|---|---|---| ||**£**|**£**|**£**| |Danske Bank Account|21,989|105,463|127,452| |RCB Shares|560,249|-|560,249| |Lloyds Shares|3,322|-|3,322| |Santander Shares|1,034|-|1,034| |LibertyShares|449|-|449| |School House Fund|-|51,126|51,126| |Cadogan Hall|183,217|-|183,217| |Glebe House|400,000|-|400,000| |Debtors|3,156|-|3,156| |Creditors|(4,120)|-|(4,120)| |**Total Funds**|1,169,295|156,589|1,325,884| 23