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

2. 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
3. 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