2024-12-31-accounts

MOUNT MERRION PARISH CHURCH Statement of Receipts and Payments- Year ended 31 December 2024 Unrestricted/ Designated Funds Restrlcted Endowment Funds Funds Total Funds Totsl Funds Receipts 2024 2024 2024 2024 2023 Offerings and Donations includin8 Gift Aid Refunds 104,901 20,925 125,826 91,908 Grants 7,500 7,500 3,815 Programme Income 1.115 1.115 2,556 Rental- Hire of Church Hall 1,441 1,441 2,086 Proceeds from Fund Raising Events 1,940 1,940 4,163 Bank /investment Income 125 131 107 Total Receipts 109.522 28.425 137.953 104.635 Payments Salary Costs Diocesan Levy Church & Hall Running Costs Church & Hall Refurbishment Note 4 57,934 4,694 62,628 77,154 6,900 7,284 12,016 230 12,252 9,945 2,796 5.772 8,568 Rectory Costs 2,239 2,239 1,590 Rectory Refurbishment 7,288 Programme costs 5,759 5,759 7,342 Support Costs {inc. Equipment/iT} Mission and Charitable Donations 1,770 1,770 2,721 2,700 2,700 2,200 Fund Raising Costs Bank Fees / Other Payments 467 467 288 192 192 215 Totsi Payments 92,773 10,696 103.475 116,027 Ex¢essl{Deficit) of Re￿ipts to Payments for the year 16.749 17,729 34.478 (11,392) Belfast: Mount Merrionnhe Church of The Pentecosv Down & Dromore / Church of Ireland - NIC102093 15

MOUNT MERRION PARISH CHURCH Statement of Assets and Liabilities as at 31 December 2024 Unrestricted/ Deslgnated Restricted Endowment Funds Funds Funds 2024 2024 2024 Total Funds 2024 Totsi Funds 2023 Cash Funds Note 2 Current Account/Cash 44,204 24,076 68,280 33,802 Totsl Cash Funds 44.204 24,076 68,280 33,802 Value 2024 Value 202 Investment Assets Note I CIT Unit Trusts 208 189 Total Investment Assets 189 Value Value 2024 2023 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 190,000 190,000 190.000 190.0 Signed on behalf of the Trustees: Date: 31&123 Belfast: Mount Merrionnhe Church of The Pentecost/ Down & Dromore / Church of Ireland - NIC102093 16

MOUNT MERRION PARISH CHURCH Notes to the Financial Statements - Year ended 31 December 2024 l. Accountlng Pollcles. 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 ond Liabilities. The assets of the Parlsh retalned for Parlsh'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 (FRS102). 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 £3,000 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 Pentecosv Down & Dromore / Church of Ireland - NIC102093 17

1. Reconciliation of Cash Funds. 2024 2023 Total Cash Funds at l January Receipts for year Payments for year Total Cash Funds at 31 December 33,802 137,953 (103,475) 68,280 45,194 104,635 (116,027) 33,802

2. Movement of Funds Atljan 2024 Incoming Resources (Outgoing Resources) Transfers At 31 Dec 2024 Endowment Funds - Steadman Bequest Restrirted Funds Hinchley Trust Grant- RES Fitness Hub Grants- RES 2,978 7,500 {4,6941 5.784 255 255 Outreach Sundry Grants and Donations- RES Building Fund - RES 200 2,865 3,065 2,914 18,060 (6,LX)2) 14,972 TOTAL Restrirted 6.347 28,425 110.696) 24,076 Designated and Unrestrlrted Funds Outreach Fund- DES 10,355 4,105 (10,507) 2,500 6,453 Music Fund- DES 2,499 11,327) 1,172 Building Fund- DES 660 13,560 {162) 14,058 General Fund 13,941 91,857 (80,777) (2,500) 22,521 TOTAL Designated ond Unrestrirted Funds TOTAL FUNDS 27.455 109,522 (92,773) 44.204 33,802 137.953 (103A75) 68.280 Belfast: Mount Merrionnhe Church of The Pentecosv Down & Dromore / Church of Ireland - NIC102093 18

3. Movement of Funds (cofit'd) 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. 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 restritted grants towards the costs of the Community Fitness Hub- equipment, runnin8 Costs etc. Outreach Sundry Grants ond Donations. This fund receives restritted grants and donations to be used as specified on community outreach projects. Building Fund. This fund receives restricted grants and donations towards the costs of speclfled building projects Pur ose of Desi nated Funds Designated Outreach Funds (various). These funds include grants and donations (with a broad rather than specific purpose) to be used for outreach purposes and other monies set aside by the Trustees to assist meeting the costs of outreach projects. Designated Musit Fund. This fund receives donations to be used for music and worship activities Designated Building Fund. This fund includes grants and donations (with a broad rather than specific purpose) to be used for building-related purposes. Unrestricted Funds General Fund. This fund Is made up of all income on which there is no restriction artd is available to cover the running Costs and upkeep of the Church. Belfast: Mount Merrion/The Church of The Pentecost/ Down & Dromore / Church of Ireland - NIC102093 19

4. Transactlons with Trustees. The Parish pald expenses of £2,239 (2023 - £1,590) relating to the running costs of the Rectory whlch is occupied by the incumbent. This relates to rates and repairs and maintenance. Payments made during the year by the Parish elther to or on behalf of the incumbent during 2024 amounted in total to £51,692 (2023 - £ 50,468) being in respect of Salary cost, NIC costs, Locomotory expenses, Penslon cost and Office Allowance (paid ift accordance with stipend figures approved annually by the General Synod of the Church of Ireland and Locomotory expenses, Office Allowance and Pension contributions made 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 by them to thlrd parties ort behalf of the Church. These are immaterial in value and of no direct benefit to the Trustees.

5. Collections for Thlrd Partie5 2024 2023 Bishop's Appeals 557 Community Centre (Coronation Day} 380 4 Peaks-Team Dot 2,866 4 Peaks- Nl Hospice 2,866 Belfast: Mount Merrionmie Church of The Pentecost/ Down & Dromore / Church of Ireland - NIC102093 20