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2023-12-31-annual-report

THE UNITED PARISH OF

SAINT NICHOLAS AND ALL SAINTS CHURCH, BELFAST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Charities Number NIC 101981

The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023

CONTENTS

Pages
**Church Information ** 1
Trustee’s Report 2
Independent Examiner’s Report 8
**Statement of Financial Activities ** 9
Balance Sheet 10
Notes to the Financial Statements 11

The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023

CHURCH INFORMATION

Charity Name BELFAST/Belfast: United Parish of St Nicholas & All Saints/Connor/Church of Ireland

Also known as Saint Nicholas Church, SNC All Saints’ Church, ASC Unichurch Belfast The United Parishes, Belfast Websites www.ascbelfast.com www.sncbelfast.com www.unichurchbelfast.com Charity Number NIC 101981 Office Address 1 Cadogan Park Belfast BT9 6HG Church Buildings All Saints, Belfast Saint Nicholas University Street 507 Lisburn Road Belfast Belfast BT7 1LB BT9 7EZ Rector & Chairman Rev Trevor Johnston Curate - Assistant Rev Peter Blair Church Wardens Mr Adam Barr (People’s Churchwarden) Mr Joey Reffitt (People’s Churchwarden) Mr Timothy Devlin (Rector’s Churchwarden) Dr Jonathan McIntosh (Rector’s Churchwarden) Mrs Geraldine Shaw (Rector’s Glebewarden) Dr Michael Trimble (People’s Glebewarden) Honorary Secretary Dr Andrew Scholes Honorary Treasurer Mr Michael Hamer Banker Danske Bank UK Donegall Square West Belfast BT1 6JS Independent Examiner CG Taggart Accountancy Services 17 Cypress Crescent Donaghadee BT21 0QG Financial Consultant Michael McCann 18 Broadlands Park Carrickfergus BT38 7DB

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The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023

TRUSTEE’S REPORT

INTRODUCTION

The trustees present their report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the financial statements and comply with the charity's Constitution, the Charities Act (Northern Ireland) 2008 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)".

SELECT VESTRY (CHARITABLE TRUSTEES)

Dr Norma Agnew From 1 January 2023 Rev Peter Blair From 1 January 2023 Mr William Carlisle From 1 January 2023 Dr Niall Collum From 1 January 2023 Mrs Tricia Devlin From 1 January 2023 Miss Stephanie Devlin From 1 January 2023 Miss Jennifer Farr From 1 January 2023 Mr Michael Hamer From 1 January 2023 Mrs Emma Hamer From 1 January 2023 Dr Brian Haugh From 1 January 2023 Mrs Kathryn Haugh From 1 January 2023 Dr Patricia McKee From 1 January 2023 Miss Rosemary Nugent From 1 January 2023 Miss Rebecca Thompson From 1 January 2023 Mr Jack Simpson From 1 January 2023 Rev Trevor Johnston From 1 January 2023 Dr Andrew Scholes From 1 January 2023 Mr David Scholes From 1 January 2023 Mr Adam Barr From 1 January 2023 Mr Michael Kennedy From 1 January 2023 Mrs Emma Keown From 1 January 2023 Dr Richard McMaster From 1 January 2023 Mr Ron McCormick From 1 January 2023 Mrs Geraldine Shaw From 1 January 2023 Dr Michael Trimble From 1 January 2023 Dr Jonathan McIntosh From 27 March 2023 Mr Joey Reffitt From 27 March 2023 Mr Timothy Devlin From 27 March 2023

To 27 March 2023

To 27 March 2023

To 27 March 2023

To 27 March 2023 To 27 March 2023 To 27 March 2023

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The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023

OBJECTIVES & ACTIVITIES

The charitable purpose of the Church of Ireland is the advancement of religion.

The principal function of the United Parish of Saint Nicholas and All Saints Church is to support the advancement of the Christian religion by promoting the whole mission of the Church, pastoral, evangelistic, educational, missional, social, and ecumenical. Being open to and engaging with society as a whole and offering support for those needing help are fundamental to the practical delivery of the benefits of Christianity.

ACHIEVEMENTS, PERFORMANCE, & PUBLIC BENEFIT

This year, 2023, was the first year of the United Parish of St Nicholas and All Saints. Following meetings of the Connor Diocesan Council on 22[nd] September and 24[th] November, the Church of Ireland’s Representative Body meeting on 14[th] December, and each of their respective and various determinations and then the two General Vestries met for a joint General Vestry on 19[th] December 2022. This was chaired by the Archdeacon of Belfast, Ven Barry Forde and the two parishes of St Nicholas and All Saints successfully merged from the 1[st] January 2023. The newly merged United Parish carried out a range of activities in pursuit of its charitable purpose. These include:

· The United Parish provides a range of public worship to cater to the needs and preferences of its members: on Sunday morning, two services take place – one traditional and one more contemporary. The Sunday evening Uni Church service attracts a large number of students and young professionals. There has been growth numerically in those attending the various Sunday services that take place, but just as importantly there has been a growth in fellowship as shared activities such as Carol Services and a Church weekend away (in Castlewellan Castle) brought people together. Throughout the year our older members were cared for with regular activities providing an opportunity to develop friendships.

· Throughout the year there are a number of ongoing activities serving the needs of children and young people. These include a Tots Ministry and Friday Night Clubs for 4-11 years olds and teenagers. These groups provide a safe and secure environment for children and young people to learn more about God in an age-appropriate and relevant way, and over 80 children and young people make use of the various initiatives provided. Alongside this regular, weekly ministry provided to children and young people the United Parish held Easter and Summer holiday clubs and a summer football camp. These events were attended by over 100 children and young people from the local area.

· In addition to one-off events such as Easter and summer holiday clubs and football camps, the United Parish reached out to the local area by opening up its grounds to hold an Autumn Fair as well as a Christmas Family Fun day. These events were attended by over 1000 people.

· Growth Groups took place throughout the year. These are weekly bible studies in which members come to a deeper understanding of the bible and grow in fellowship with and pastoral care for one another. Throughout the year there have been over 160 members of the United Parish meeting in 16 Growth Groups.

· A number of outreach activities were conducted in the All Saints’ parish area, with relationships and follow-up established with a wide range of people who may previously have had little contact with church. BBQs were held during Freshers’ Week and on St Patrick’s Day, with over 800 of those resident in the parochial area being served food, many of whom were welcomed into the church building. A coffee van was purchased (with financial assistance from the Church of Ireland Priorities’ Fund) to provide a means of reaching out to people living in

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The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023

the All Saints’ parish area. Through these activities, good rapport was developed with local residents and openings for further conversations and relationships were established.

· A number of ‘Life’ courses were held throughout the year, with over 20 people attending to understand what Christianity is about. The United Parish has also provided support to a number of people involved in full-time Christian ministry overseas, and to those training to enter the ordained ministry.

As demonstrated by the above, the United Parish of St Nicholas and All Saints has had a successful year delivering on its objectives and charitable purpose. This was its first year as a united parish and it has been encouraging to see relationships between members of two formerly separate churches grow and deepen through mutual participation in public worship, prayer, special events and church groups. Public benefit has been delivered as its members of all ages, and those it has come into contact with, develop friendships with one another, provide pastoral care for one another and grow in their knowledge of God and the bible.

FINANCIAL REVIEW

The United Parish received a total income of £323,872 (2022: £245,833) in the 2023 financial year. This income was made up of £260,714 unrestricted funds and £63,157 restricted funds. The church members recognised the increased running costs of the United Parish and generously increased their giving to the church. Within the restricted income the United Parish was the beneficiary of a significant grant of £33,000 from the Church of Ireland Priorities Fund. The United Parish is grateful to the Priorities Fund committee for this allocation which fed into the Evangelism Development Fund. The grant enabled the church to give a renewed vision to the Holylands Outreach Project. A coffee van was purchased along with gazebos and an outdoor seating area to provide an opportunity to increase awareness of the church presence, build connections, and spread the Gospel.

The expenditure in the 2023 financial year was £352,778 (2022: £316,052). This comprised of £300,745 unrestricted funds and £52,033 restricted funds. The largest portion of the church expenses lies with Staff Costs, £173,025 (2022: 130,710). The United Parishes were in the fortunate position of being able to fund two new full-time staff members to take on 2 areas of ministry focus; the Student Outreach Worker’s remit is the Holylands area with students, the Children & Families Outreach Worker’s focus is in the Lisburn Road area. The staff team increased to 6 (2022: 5).

The United Parish recognises the risk and challenges posed by being stewards of aging property in Belfast, particularly the All Saints’ Church Building over 100 years old. In 2021 the Select Vestry of All Saints church approved the engagement of outside professionals to provide assistance and expertise in this area. 2023 saw total payments of £10,320 (2022: £15,082) in the closing stages of the investigation.

Overall, there were net outgoings of £28,907 (2022: £70,218 outgoing) for the financial year and total decrease in assets of £12,281 (2022: £116,977 decrease) when investment performance is considered. This outgoing in funds is a recognition of the new Select Vestry’s commitment to growing a renewed Gospel presence on the Lisburn Road and Holylands areas and also the United Parish of St Nicholas & All Saints commitment to reach the lost, grow disciples, and send more workers to the mission field at home and abroad. It is also important to note that the 2023 financial position was significantly improved on 2022 when the United Parish running, and maintenance costs were hit by rising inflation throughout the 2022 financial year coupled with poor investment performance.

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The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023

RESERVES POLICY

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a sufficient level. At the year end the unrestricted reserves totalled £844,882 (2022: £869,360). The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised.

GOING CONCERN

After reviewing and 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. For this reason, the trustees continue to adopt the going concern basis in preparing the financial statements.

RISK MANAGEMENT

The trustees acknowledge their responsibility to manage risks faced by the United Parishes. The main risks facing the United Parishes:

These risks are managed by:

STRUCTURE, GOVERNANCE, & MANAGEMENT

Chapter III of the Constitution of the Church of Ireland governs Parishes and Parochial Organisation. The Select Vestry members are the Charity Trustees

RECRUITMENT & APPOINTMENT OF SELECT VESTRY (TRUSTEES)

All members of the Church of Ireland who are over the age of 18 and are either resident within the parish or live elsewhere but have been accustomed members of the congregation for at least three months, may register as members of the general vestry of the parish, allowing them

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The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023

to attend and vote at meetings of the general vestry and to stand for election to the select vestry.

Meetings of the general vestry are held at least once a year. The Select Vestry is elected as part of this General Vestry meeting. The Select Vestry will hold their positions for a period of one year. Select Vestry members may be re-elected annually and there is no limit on the number of terms which may be served

ORGANISATIONAL STRUCTURE

The Select Vestry is responsible for the day to day management of the parish. The Select Vestry consists of the members of the clergy serving in the parish, the curate assistant (“the curate”), the churchwardens, the glebe wardens and generally not more than twelve other members of the general vestry elected at the General Vestry. However, under the direction of the Diocesan Council of the Diocese of Connor, the newly united parish was instructed to increase this number (as per the diocesan regulations) to include six (normally four) wardens and up to twenty-two members for these initial years of parochial re-organisation.

The Select Vestry is chaired by the incumbent clergy officiating in the parish. Select Vestry members are responsible for making decisions on matters of general concern and importance to the parish including deciding how parish funds are to be applied.

The Select Vestry meets at times fixed by the members or by the diocesan synod. Special meetings may be convened at any time by the chairperson or the churchwardens. In 2023 the Select Vestry and its officers met 5 times during the year.

PAY & REMUNERATION

In accordance with the Constitution of the Church of Ireland the Rector (Chairman) and Curate-Assistant (Trustee) received remuneration for pastoral services. The Rector received a Church of Ireland Rector’s stipend, locomotory expenses, office expenses, and allowances for communication and evangelism. The Rector also received employer pension contributions into the Clergy Defined Pension Fund. The Rector enjoyed use of the Rectory whilst in post as per the Constitution of the Church of Ireland.

The Curate-Assistants received a Church of Ireland Curate-Assistant’s stipend, locomotory expenses, office expenses, and allowances for communication. The Curate-Assistant received employer pension contributions into the Clergy Defined Pension Fund. The CurateAssistant enjoyed use of the Glebe House whilst in post as per the Constitution of the Church of Ireland.

No other trustee received remuneration, benefits, or payment for professional or other services.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

The law applicable to charities in the Northern Ireland requires the trustees to prepare financial statements for each financial year. Under that law the trustees have prepared the financial statements in accordance with Generally Accepted Accounting Practice in the United Kingdom (accounting standards issued by the Financial Reporting Council in the UK , including Charities SORP (FRS 102) “ Accounting and Reporting by Charities: Statement of Recommended

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The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023

Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) “and promulgated by the Institute of Chartered Accountants in the United Kingdom and United Kingdom Law) Under that law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charity and of the statement of financial activities of the charity for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping accounting records that are sufficient to show and explain the Parish’s transactions and disclose with reasonable accuracy at any time the financial position of the Parish and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008, the Charity (Accounts and Reports) Regulations (Northern Ireland) 2015 and the provision of the Constitution of the Church of Ireland. They are also responsible for safeguarding the assets of the Parish and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustee’s Report was approved by the Board of Trustees on 2024

Signed of behalf of the trustees:

Mr Michael Hamer (Hon. Treasurer)

Rev. Trevor Johnston (Chairman)

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The United Parish of Saint Nicholas and All Saints Annual Report for the Year Ended 31 December 2023

INDEPENDENT EXAMINER’S REPORT

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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

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2024
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Mr Michael Hamer Hon. Treasurer

The Revd Trevor Johnston Chairman

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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

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2024
The Revd Trevor Johnston
Chairman
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Mr Michael Hamer Hon. Treasurer

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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.

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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:

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

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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.

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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.

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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.

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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:

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