MOUNT MERRION PARISH CHURCH Statement of Receipts and Payments - Year ended 31 December 2023 Unrestricted/ Designated Funds Restrirted Endowment Funds Funds Total Total Funds Funds Receipts 2023 2023 2023 2023 2022 Offerings and Donations including Gift Aid Refunds 90,408 1,500 91,908 89,344 Grants 3,815 3,815 40,210 Programme Income 2,556 2,556 5,180 Rental - Hire of Church Hall 2,086 2,086 2,953 Proceeds from Fund Raising Events Bank linvestment Income 2,748 1,415 4,163 1,963 102 107 92 Other income 260 Total Receipts 97.900 6,730 104,635 140,002 Payments Salary Costs Note 4 62,838 14,316 77,154 74,357 Diocesan Levv Church & Hall Running Costs Rectory Costs Note 4 7,284 7,284 7,200 9,940 9,945 14,910 1,590 1,590 1,996 Programme costs 6,737 605 7,342 15,648 Support Costs (inc. Equipment/lTI Mission and Charitable Donations 2,721 2,721 2,778 2,200 2,200 2,750 Fund Raising Costs 288 288 267 Rectory Refurbishment 7,288 7,288 4,783 Bank Fees / Other Payments 215 215 240 Total Payments 101,101 14,921 116.027 124,929 Excess/(Deficit) of Receipts to Payments for the year (3,201) (8,191) (11,392) 15,073 Belfast: Mount Merrionnhe Church of The Pentecost/ Down & Dromore / Church of Ireland - NIC102093 15
MOUNT MERRION PARISH CHURCH Statement of Assets and Liabilities as at 31 December 2023 Unrestricted/ Designated Restricted Endowment Funds Funds Funds 2023 2023 2023 Total Funds 2023 Total Funds 2022 Cash Funds Note 2 Current Account/Cash 27,455 6,347 33,802 45,194 Total Cash Funds 27.455 6,347 33.802 45,194 Value 2023 Value 2022 Investment Assets Note I CIT U nit Trusts 189 181 Total Investment Assets 189 181 Value Value 2023 2022 Assets retained for Parish's own use Note I Church/ Memorial Garden Church Hall Rectory Fixtures & Fittings Heritage Asset Heritage Asset Deemed Cost Deemed Cost 190,000 190,000 190,L 190,(K)D Signed on behalf of the Trustees: Date: Belfast.. Mount Merrion/The Church of The Pentecost/ Down & Dromore / Church of Ireland - NIC102093 16
MOUNT MERRION PARISH CHURCH Notes to the Financial Statements- Year ended 31 December 2023 l. Accounting Policies. Set out below are the principal accounting policies which have been adopted in the compilation of the Statement of Receipts and Payments and the Statement of Assets and Liabilities. (a) Statement of Receipts and Payments All items of income and expenditure included within the Statement of Receipts and Payments have been accounted for on a cash receipts basis. (b) Statement of Assets and Liabilities. The a55ets of the Parish retained for Parish's own use comprise:_ Church Building and Memorial Garden. Church Hall Rectory Fixtures and Fittings The Church Building and the Memorial Garden are deemed to be 'Heritage assets, as defined by the Charities SORP IFR5102). No value is included on 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. Church artefacts are also treated as 'Heritage assets,. The Church Hall is attached to the Church and is not separable as an individual asset. As such it is also deemed to be a Heritage asset and no value is ascribed to it on the Statement of Assets and Liabilities. The Rectory (the title of which is vested in the RCB) is situated adjoining the Church grounds. It is included on the Statement of Assets and Liabilities at agent's estimated sale value {January 2017). No depreciation has been provided as the current estimated residual value is not less than it's carrying value, it is well maintained in good repair and remaining useful life is expected to exceed 50 years. Fixtures and fittings, office equipment and other assets are recognised at Cost and depreciated on a straight line basis over a period of 5 years. The Trustees have determined that only individual items exceeding a cost of £1,000 will be capitalised. The exception is project assets acquired through grant funding which are fully accounted for in the year of acquisition through the Statement of Receipts and Payments - Funding shown under Grants and cost of assets under Pro ramme Costs. The Investment Assets comprise CIT Unit Trusts. These are initially recorded at cost and then subsequently stated at fair value at each year end date. Belfast: Mount Merrionnhe Church of The Pentecost/ Down & Dromore / Church of Ireland - NIC102093 17
- Reconclliation of Cash Funds. 2023 2022 Total Cash Funds at l January Receipts for year Payments for year Total Cash Funds at 31 December 45,194 104,635 {116,027) 33,802 30,121 140,002 {124,929> 45,194
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Movement of Funds Atljan 2023 Incoming Resources (Outgoing Resources) Transfers At 31 Dec 2023 Endowment Funds - Steadman Bequest (5) Restricted Funds Halifax Foundation {Antheml - RES Arts Council Nl IAntheml- RES HinchleyTrust Grant- RES Fitness Hub Grants- RES 285 {285) 7,700 {6841 (7,0161 3,098 7,500 {7,6201 2,978 255 255 Outreach Sundry Grants RES Building Fund - RES 3,200 {3,0001 200 2,914 2,914 TOTAL Restrirted 14,538 6,730 (14,921) 6,347 Belfast: Mount Merrionnhe Church of The Pentecost/ Down & Oromore / Church of Ireland - NIC102093 18
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Movement of Funds (convd) Atljan 2023 Incoming Resources (Outgoing Resources) Transfers At 31 Dec 2023 Designated and Unrestrirted Funds Outreach Fund- DES 9,989 8,285 (10,019) 2,100 10,355 Anthem /Music Fund- DES Building Fund- DES 4,125 8,483 (10,109) 2,499 660 660 General Fund 16,542 80,472 (80,973) 12,1001 13,941 TOTAL Designoted ond Unrestrirted Funds TOTAL FUNDS 30,656 97,900 (ioi.ioi) 27,455 45,194 104,635 (116.027) 33,802 Pur ose of Endowment Fund Income from the Edward Steadman Bequest is to be used for the upkeep of the Church. Pur ose of Restricted Funds These are funds restricted to the specific purpose for which the funds are given. Anthem Funds (various). These funds receive restricted grants and donations towards the costs of running the Anthem project - salary, equipment, materials, etc. Hinchley Trust. This fund receives restricted grants from the Hinchley Trust to be used as specified on outreach work in the Parish. The current grant is towards the employment of a Children's and Family Worker Fitness Hub. This fund receives restricted grants towards the costs of the Community Fitness Hub - equipment, running costs etc. Outreach Sundry Grants. This fund receives restricted grants to be used as Specified on community outreach projects. Building Fund. This fund receives restricted grants and donations towards the costs of specified building projects Belfast: Mount Merrionnhe Church of The Pentecost/ Down & Dromore / Church of Ireland - NIC102093 19
Pur ose of Desi nated Funds Designated Outreach Funds {vorious). These funds include grants and donations (with a broad rather than specific purpose} designated for outreach purposes and other monies set aside by the Trustees to assist meeting the costs of outreach projects. Designated Anthem/Music Fund. This fund includes tuition fee income from the Anthem project and donations (with a broad rather than specific purpose) for the Anthem project and other Music activities Designoted Building Fund. This fund includes grants and donations {with a broad rather than specific purpose) designated for building-related purposes. Unrestricted Funds General Fund. This fund is made up of all income on which there is no restriction and is available to cover the running costs and upkeep of the Church. 4. Transactions with Trustees. The Parish paid expenses of £1,590 (2022 - £1,996} relating to the running costs of the Rectory which is occupied by the incumbent. This relates to rates and repairs and maintenance. In addition, £7,288 was spent on bathroom refurbishment. Payments made during the year by the Parish either to or on behalf of the incumbent during 2023 amount in total to £50,468 (2022 - £ 46,034) being in respect of Salary cost, NIC costs, Locomotory expenses, Pension cost and Office Allowance (paid in accordance with stipend figures approved annually by the General Synod of the Church of Ireland and Locomotory expenses, Office Allowance and Pension contributions rnade in accordance with approved rates issued by R.C.B). The only other payments made to any Trustee are in respect of re-imbursement of small expense items paid bythem to third parties on behalf of the Church. These are immaterial in value and of no direct benefit to the Trustees. 5. Collections for Third Parties 2023 2022 Bishop's Appeals 557 225 Community Centre (Coronation Day) 380 Belfast: Mount Merrion/The Church of The Pentecost/ Down & Dromore / Church of Ireland - NIC102093 20