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
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2. 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
3. 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
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3. 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
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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
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