## **Church of the Epiphany Parish of Upper Malone** **Trustees’ Annual report and Statement of Receipts and Payments and Assets and Liabilities** **For the year ended 31 December 2024** **Charities Number: NIC101986** 1 **Church of the Epiphany Parish of Upper Malone Annual report and financial statements for the year ended 31 December 2024** ## **Contents** ||Pages| |---|---| |References and administrative details of the Charity|1| |Trustees’ report|2 - 4| |Independent Examiners Report to the Trustees|5| |Receipts and payments account|6| |Statement of assets and liabilities|7| |Notes to the financial statements|8 - 9| 2 **Church of the Epiphany Parish of Upper Malone Year ended 31 December 2024** ## **References and administrative details** Charity Name: Church of the Epiphany Parish of Upper Malone Charity Registration Number: NIC101986 Contact Address: 104 Upper Lisburn Road Finaghy Belfast BT10 0BB ## **Trustees** Mrs Caroline Anne Stephens Mr Victor Stephens Miss Sylvia Kennedy Mrs Matilda Harold Mrs Evelyn Wright (resigned 21[st] October 2024) Rev. Anne Louise Stewart Miss Roberta Emily Kennedy Mrs Valerie Margaret Beers Miss Edith McCarthy Mrs Jennifer Taylor Mrs Gloria Aicken Mrs Alexandra Shivers Mr Brian Aicken Ms Roberta Peters ## **Principal Office-bearers** Clergy: Church Treasurer: Church Warden – Rector’s: Church Warden – People’s: Rev. Anne Louise Stewart Vacant Miss Sylvia Kennedy Mr Brian Aicken ## **Independent Examiner** CG Taggart Accountancy Services 17 Cypress Crescent Donaghadee Co. Down BT21 0QG ## **Bankers** Ulster Bank Ltd. Andersonstown Branch Westwood Centre Kennedy Way Belfast BT11 9BQ 3 CHURCH OF THE EPIPHANY PARISH OF UPPER MALONE Receipts and Payments Account for the year ended 31 December 2024 Unre5trictsd Funds 2024 Restritted Funds 2024 Totsl 2024 Total 20Z3 Recei F.W.O. and General oflerin85 Other donations Tax Relief on Gift-Aided donations Hire of Halls Rectory Rent Invesimoni In¢ome Bank Interest Donations for party charities St. Polycarp's contribution io cost of Rector Smarties Appeal Government Grant Cremation plot FabTiC fund 18375 18375 19148 600 5473 590 8263 21 5024 5024 1021Z 21 10212 21 351 23 676 374 366 940 '. 32040 676 32441 32441 386 915 1614 91S 70708 769 6￿78 Total Recei 6￿94 Clergy Costs- stipend, l*xomotory. office and Employerfs NIC 44358 44358 39544 aergy Costs- pension Clergy cover Organist Equipment 3nd repairs Stationery and printin8 Utiltties and Rates Diocesan Assessment Insurance Independent Exarniner Refund of 5t. Polyurrfs share of o¥erpaid NIC 8ank charges Repairs to St. Polycarp'5 rectory Accounting fees Payroll processing Incidental runnin8 costs Charitsble donatlons 10242 10242 10848 395 1620 4386 1620 1620 2999 2999 421 421 205 7199 6123 1995 132 6784 2088 3CKI 139 2013 139 2013 1221 192 IZ21 SCA) 19 84842 1157481 676 676 695 85518 940 73979 Totsl Pa Éxcess of Payments twer Receipts lor the year Transfers Openln8 Bank balance5 Ooslni Bank balances ments 938 1148101 149011 34593 18845 35937 4CQ38 2282 21127 35937 On Behalf of the Trustees Trust•e i Trustre 2 CHURCH OFTHE EPIPHANY PARISH OF UPPER MALONE Statement of Assets and Llabllltle5 a5 at 31 IYe¢ember 2024 Note Unre5trfcted Funds 2024 RestrSct•d Funds 2024 End￿rneftt Funds 2024 Tot41 2024 Total 2023 Cash Funds Bank Accounts rotal Cash Funds 18845 22 2112 Z1127 18845 2282 937 Investment Assets Rectory Total Investment Assets ilb}111 27SC 2750(K) 275 275￿0 275 5000 Gift Aid Overpaid stipend Overpaid NIC Debtors-Total 4620 4620 5fy)0 105 4620 5792 St. Polycarp's Accountanty service5 Payroll services Independent Examiner PAYEINIC Creditors-Total 52S3 721 324 300 6CIJ 600 108 300 2280 3288 3C 2280 3288 6598 Restrlcted fvnds Restrlcted funds are monies which have been glven to the chaflty for the express purpose of the malntenance of ihe bulldings. Further details Can be found in note 3. On Behalf of the Trustees Trustee I Trustee 2 **CHURCH OF THE EPIPHANY PARISH OF UPPER MALONE** **Notes to the financial statements for the year ended 31 December 2024** ## **1. 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 retained for the Parish’s own use**_ The assets of the Parish, retained for its own use comprise of: - - Church Building - Church Hall The Church Building 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 Church Hall is physically attached and on the same grounds as the Church Building, as such is not separable as an individual asset. Therefore, it is deemed to be a Heritage asset and no value is ascribed to it in the statement of assets and liabilities. ## **ii) Investment property** The Rectory, which is currently rented out, is recognised at a current value of around £275,000. Depreciation is not provided on investment property measured at fair value. ## **2. Reconciliation of Cash Funds** |**Reconciliation of Cash Funds**|| |---|---| ||£| |Total Cash Funds at Beginning of the Year|35,937| |Receipts for the Year|70,708| |Payments for the Year|(85,518)| ||------------| |Total Cash Funds at End of the Year|21,127| ||------------| 8 **CHURCH OF THE EPIPHANY PARISH OF UPPER MALONE** **Notes to the financial statements for the year ended 31 December 2024 (continued)** ## **3. Movements in Funds** **----- Start of picture text -----**
Restricted Funds At 1 [st] Jan Incoming Outgoing Transfer to At 31 [st] Dec
2024 Resources Resources 2024
£ £ £ Unrestricted £
funds
£
Fabric Fund 1344 938 - - 2282
Collections for 3 [rd] Party Charities 676 676 -
Total Funds 1344 1614 676 - 2282
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## Purposes of Restricted Funds - Income for the Fabric Fund is to be used for expenditure on buildings. - Church Collections for various 3[rd] party charities as detailed in notes 4 and 5. **4. Collections for Third Parties** **----- Start of picture text -----**
Charity Donations Donations
received received
2024 2023
£ £
CMSI 431 450
Christian Aid 245 280
Bishops’ Appeal - 210
Total Donations 676 940
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**5. Charitable Donations** **----- Start of picture text -----**
Charity Donations Donations
made made
2024 2023
£ £
CMSI 450 450
Bishops’ Appeal - 210
Christian Aid 245 280
Total Amount Donated 695 940
**----- End of picture text -----**
## **6. Transactions with the Trustees** The Rector was paid a stipend of £39,504 (2023 - £37,504), locomotory expenses of £7,000 (2023 - £7,000) and office allowance of £925 (2023 - £925). The Parish also paid the employer’s and employee’s contribution to the Church of Ireland’s centrally administrated Pension fund of £10,242 (2023 - £10,848). The rector is also provided with free accommodation in order to fulfil her responsibilities. 55% of the costs of the rector are paid by St. Polycarp’s, the parish with which we are grouped. No other trustee or person related to a trustee received remuneration, benefits or reimbursement of expenses nor had any personal interest in any contract or transaction entered into by the charity during the year. ## **7. Governance costs** Governance costs of £300 (2023 - £132) were paid during the year in respect of fees to the independent examiner. Independent examiner’s fees for 2024 will amount to £300 (2023 - £300). 9