t KnoGkbr£da Parish Church Financial Statement Year ended 31st December 2024
Knockbreda Parish Church Financial statements for the year ended 31 December 2024 Contents Receipts and Payments Account for the year ended 31/12/2024. Statement of Assets and Liabilities as at 31/12/2024. Notes to the financial statements for the year ended 31/12/2024.. Accounting policies. Reconciliation of Cash Funds. Movement in Funds.. Collections for Third Parties...... Transactions with the Trustees.. Governance Costs..................
Receipts and Payments Account for the year ended 31/12/2024 Unrestrlcted Restrirted Endowment Funds Funds Funds 2024 2024 2024 Total 2024 Total 2023 Note RECEIPTS Donations and legacies Donations & Plate Collections Mission Donations/Collections Bequests & Legacies Income from charitable attivities Proceeds from Fundraising Parish Organisation's Income Other Income from Charitable Activities Other tradlng artivities Rent Hal l Letti n8s Investments I nvestment Income I nterest Other Income Grants TOTAL RECEIPTS 168,365 27,530 2,227 195,895 2,227 174,825 2,110 5,000 2,901 2,595 346 2,901 2,595 346 12,066 1,637 1,214 14,745 11,147 14,745 11,147 15,025 10,363 1,139 657 1,139 3,128 1,057 875 2,470 1750 39 146 1750 235 873 1200 225 372 196 727 PAYMENTS Ralslng funds Special Project Fundraising Costs Bank fees & Charges 38,778 3,081 38,778 4,446 278 2,580 7,858 289 1,366 278 Expenditure on tharltable activlties Wages & Salaries incl pension and expenses 105,372 Diocesan Assessment 14,904 Church Running Costs 7,218 Hall Running Costs 10,245 Other Property Running Costs 5,900 Rates 9,456 Insurance 3,780 Security 1,766 Health & Safety 4,064 Equi pment 205 Administration Costs 5,090 Charati ble Givi ng Parish Organisation's Costs Other Charita ble Activiti es Costs TOTAL PAYMENTS 105,372 14,904 7,485 10,261 5,900 9,456 3,780 1,766 4,064 536 5,573 20,956 4,883 3,520 241959 109,829 15,012 7,192 11,443 5,166 9,615 3,541 1,238 1,137 656 4,711 24,586 4,895 4,002 213 749 267 17 331 483 20,956 4,797 2,859 71,568 86 662 170 391 ExsS of ReiptS over Payments for the year 26,336 32,422 6,086 11,623 Transfers in Tra nsfers out ExsS of Receipts over Payments for the year 3,200 24 670 4867 42,610 21141 10 952 45,811 45 811 6086 28,018 28 018 11623 On Behalf of the Trustees Trustee I Trustee 2 L)TP ..ik. EGiFr Rev William Press- Rector Heather Elliott- Honorary Treasurer Date 30 .RciL
Statement of Assets and Liabilities as at 31112/2024 Unrestricted Funds 2024 Restrirted Funds 2024 Endowment Funds 2024 Total 2024 Total 2023 Cash Funds cur.rent Accounts osit Accounts Creditcard anisation Accounts Total Cash Funds 62,756 59 688 10,018 72,774 66,840 1052 79,411 66,182 495 50 1?3 949 141069 147 155 Investment Assets Other Li sted I nvestments Investments in RCB / CIT Unit Trusts Total Investment Assets 665 26,807 665 643 26,120 26,763 Assets retained for the Parlsh's own use Church Halls valucd In 2024 after extension Rector Curata Sexton's Bun alow rixtures aiid fittin Total Assets retained for the Parish's own use 2 100 000 530 000 325 000 175 000 2 100 000 530 000 325 000 175 000 450 000 250 000 150,000 3,130,000 3 130,000 850,000 On Behalf of the Trustees Trustee I Trustee 2 Canon William Press- Rector Heather Elliott- Honorary Treasurer Date 3c l£-
Notes to the financial statements for the year ended 31/12/2024 l. 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 (a) 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. (b) Statement of Assets and Liabilities (i) Assets retainedfor the Parish's own use The assets of the Parish, retained for its own use comprise:_ Church Building and Graveyard Parochial Halls, Car Park and Tennis Court Rectory Curate's Bungalow Sexton's Bungalow Fixtures and fittings The Church Building and Graveyard are deemed to be Heritage assets as defined by the Charities SORP (FRS102) These Heritage assets are 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 Halls were built in 1970 and extended in 1998. A further small extension financed through a council initiative was completed in 2024 at a cost of £250,000 and a replacement value for insurance purposes was provided.. The Rectory and bungalows are recognised at deemed cost, being the estimated fair value of the property at 31/12/2024 based on insurance and rateable value. No depreciation has been provided on the Rectory and Bungalows as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. Fixtures and Fittings are recognised at cost and are depreciated on a straight line basis over a period of 5 years. No reliable records exist of historical fixtures and fittings and as such no value has been attributed to these.
ii) Investments Fixed asset investments comprising investment properties, 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. Investments in unquoted investments are recorded at cost and are assessed annually for impairment. 2. Reconciliation of Cash Funds Total Cash Funds at Beginning of the year Receipts for the Year Payments for the Year Total Cash Funds at end of the year 147,155 235,873 241,959 141,069
- Movement in Funds Knockbreda Parish Churth- N1101983 Fund movement by type Atljan Incoming 2024 Resour5 Outgolng Gains and ReSoUrS Losses Transfers At 31 Dec 2024 Fund and type Unrostrlcted General - Cy>neral lund 46,422 196,727 170.391 -21,469 51,288 Sub-totals 46,422 196,727 f70.J91 -21,469 51.288 thslgnatéd AudVG - AudK) Vsual Fund 416 960 2,088 745 383 8B- Boys Brgado IdOub- Badmnton aub (Xknk. Q)ffee Dxk Q)rm£hoir - C4)fTTTunity QIoir 0)ntg0- Q)ntingLincy Fund FRFJents - Fundraising - ENenls FRMSC - Fundrasing - Books ctc Ga£BRF- C of l &ILettc & Rcadng M)Ic5 Fkrvest - FLirvcsl 222 337 870 314 1,458 431 85 -150 117 750 1,237 971 986 986 12.754 3,862 5.080 68 522 413 -2,362 -3,580 -72 13,688 1,500 1,500 346 259 7,082 249 3,022 1,363 -3,429 6,675 122 Hub- The Fkjb kypact - Irrpqlct Lodies Group LBreak- Ladies Broakfast LadBow Is - LadK>S Bow lry aub Break- Pthns Broaldasl )nsaub- nS aub )nCnls - )n- General tksgnated (Xjtroach - (Xjlreach proFcts FGiler- Parish Caterng FThoir- F¥rsh thoir Quin- Ququennl Fund Thaub- Thursday aub YoulhFeB- Youth Fellow shi) 1,490 30 30 585 26 611 414 170 -200 51 113 1,627 12,190 188 1,954 46 997 1.030 1,566 1,020 127 -600 -6,470 1,655 -1,000 1,897 6,750 2,407 853 1,002 1.121 25.740 855 319 5,000 -655 30.740 200 219 100 Sub-lotalj 76.541 12.994 6.470 -10,405 72.661 Restrlcted AUocD)n - Alh)cated CJnalK)ns Fund (SSAT- CSSM Nkyw low nbreda Catering CveSOJ- thoir Vestry Ftoiect Chairs2023- Fèll FoJecl 2022123 lldMn- lSren$ Mnistry rcoll - AOocat8dlDrect CdlectK)ns GdnR£m- Garden of Rerrerrberance Ha112021- re-furbhrrent 2021 Krtch2224 - Krtchen re-f urb6hrrent 2022 2024 FM3g - Parsh Agazine Floperty - Assets - Poperty Rest>)nat - Kfjscellaenous Restricted tbnations TravBurs - Travel Bursary - Finch Bequest Trustclvs - Trust tlvidend hcorre 15,700 2,681 50 15.700 ~100 201 4,120 1,540 83 438 133 438 1,477 -149 900 876 -85 1.416 3.430 3.281 5,026 3.276 9,170 -996 5.026 3,259 582 -378 17 13,850 2.173 38.778 2,612 16.340 1.057 850,000 864 3,696 1,057 2,280,000 3,130,000 864 405 135 1,139 405 680 19 3,152 1,139 -1,038 Sub-totals 874,192 26,152 65,098 2,280,000 31.874 3.147,120 Endowmenl Trusts - Assets - 26.763 709 27,472 Sub-totals 28.763 709 27,472 Totals 1,023,918 235,873 241,959 2,280,709 3,298,542
Purpose of Funds The majority of designated funds support the activities of parish organisations. Tlie Contingeiicy and Non General DesiETiated Funds (which inclLJde bequests) are allocated as needed to building repair and maintenance, improvement projects and if necessary to reduce a deficit in the General Fund. The Quinquennial Fund finances repairs and maintenance identified in the quinquennial report. Tlie Kitchen Refurbishment Fund finaiiced the new kitchen. The Harvest and Fundraising Funds are allocated to new projects. The Parish Catering fund supports catering and general expenses along with Mothers, Union activities and other projects identified by the catering team. The Audio Visual Fund is used to finance ongoing Audio Visual costs. The Allocated Donations fund is sourced from regular Income and is used to support a variety of organisations on an annual basis. The Parish Magazine Fund is used to pay for the publication of the monthly magaziiie. Direct Collections relate to specified non-agency collections. The Misc. Restricted Donations Fund contains funds donated for specified purposes. Tlie Travel Bursary Fund is used to finance young parishioners wishing to undertake missionary trips. The Trust Dividend Income is allocated as specified by the trusts. 4. Collections for Third Parties 2024 2023 Christian Aid Leprosy Mission Tearfund CAP Belfast Centre (WPCA) C.M.S.l. Macmillan Cancer Support TOTAL 1145 186 779 304 120 1250 13 1,340 471 2,594 3,013 The above amounts have not been included in Receipts and in Payments for either year. 5. Transactions with the Trustees The Rector, Parish Administrator and Relief Organist were paid the following: Office Allowance Locomotory Expenses Stipend/Salary/Fees Pension Rector Parish Administrator 41,699 6,025 10,242 800 7,000 No trustee or a person related to a trustee had any personal interest in any contract or transaction entered into by the charity during the year. Reimbursement for incidental expenses to trustees amounted to £3,810. 6. Governance Costs A cost of £600 was incurred for the inspection of the accounts.