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2023-12-31-annual-return

Charity registration number 102110

BELVOIR PARISH CHURCH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

BELVOIR PARISH CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Stephen McKinty
Mr Gordon Smith
Mr Kenneth Wilson
Mr Richard Rea
Mr Eric Hudson
Mr Christopher Scott
Rev Adrian McCartney
Mr Alan Brown
Ms T Haylett
Ms Helen Livingston
Mrs Wendy Boal
Mrs Marion Thompson
Mr Kenneth Boal
Ms S Thompson (Appointed 26 March 2023)
Ms L Taylor (Appointed 26 March 2023)
Ms R Patton (Appointed 26 March 2023)
Mr Roland McKane (Appointed 26 March 2023)
Charity number 102110
Principal address 21 Dunseverick Avenue
Belfast
BT8 7EB
Independent examiner Moore Braniff
2 Beechill Business Park
96 Beechill Road
Belfast
Northern Ireland
BT8 7QN
Bankers Danske Bank
Donegall Square West
Belfast
Northern Ireland
BT1 6JS

BELVOIR PARISH CHURCH

CONTENTS

Page
Trustees report 1 - 3
Independent examiner's report 4
Statement of financial activities 5 - 6
Balance sheet 7
Notes to the financial statements 8 - 18

BELVOIR PARISH CHURCH

TRUSTEES REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the parish's constitution, the Charities Act (NI) 2008 and the Statement of Recommended Practice, The Charities (Accounting and Reports) Regulation (NI) 2015.

Objectives and activities

The Church of the Transfiguration, Belvoir, more commonly known as Belvoir Parish Church, supports the advancement of the Christian religion by promoting through the work of the Parish the whole mission of the Church; pastoral, evangelistic, social and ecumenical. Being open to and engaging with society and offering support for those needing help is fundamental to the practical delivery of the tenets of Christianity.

As a result of activity in pursuit of the advancement of the Christian religion, Belvoir Parish Church has custody of a large body of records, materials and artefacts of significance to the cultural heritage, the maintenance of which is undertaken by the Select Vestry of Belvoir Parish Church as a secondary charitable purpose.

Public Benefit

The Trustees have given careful consideration to the Charity Commission for Northern Ireland’s guidance on public benefit to ensure that the activities entered into during the year have helped to achieve the Parish’s objectives and activities, as well as providing public benefit. Regular worship has grown into three service each week, all of different styles. Thursday morning has grown to nearly thirty people (mostly in the over 60s age group) and incorporates lunch and other activities. This has become a focal point for connection with the elderly of both parish and community. Our church centre is used by a variety of organisations during the week and, increasingly, by the wider community for social events, children’s birthdays, and even some training events and meetings. Booking is through an online form on the Parish website.

Access to Church properties is restricted for public safety to named key holders and Belvoir Parish mitigates potential harm from activities by implementing Safeguarding Trust, the Church of Ireland’s Child Protection Policy.

Achievements and performance

Staff: Paul Jardine, Catherine Carson, Olivia McMinn (left in July 2023), and Jennifer Stewart.

The staff team also includes: Carson Bell and Janice McCartney (both working twenty hours per week on a voluntary capacity).

Highlights of each of the above include (among the many other aspects of their work and ministry)

Paul Jardine – restructuring our finances into an annual budget

Catherine Carson - Kit’s Place (carers and toddlers) has reached its capacity of 35 toddlers.

Olivia McMinn – youth work continued to grow with weekly events 9-14s on Sunday mornings, 11-16s on Sunday nights.

Carson Bell – the Bike Workshop continues to meet refugee need and recently gave away its 300th bike.

Janice McCartney – a system of visiting and connecting with people in nursing homes or house-bound.

BELVOIR PARISH CHURCH

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Social Outreach

We have continued to major outreach responsibilities during 2023.

  1. The Larder – we continue to contribute financially.

  2. All Nations Ministries – at least half of the Board of All Nations Ministries is from Belvoir Parish, as well as some of the volunteers. The work is in North Belfast among asylum seekers and refugees. Providing care, clothes, contacts, furniture, and cultural guidance are among the areas to which we contribute. The bike workshop is also mentioned above.

3. We continued to support people in need by giving grants

  1. The Rector was added to the Board of The Belvoir Community Hub (community centre in the square of Belvoir Park). We have become partners in a number of events and programmes.

Financial review

Finances are managed by the Honorary Treasurer who distributes and presents a financial report to the trustees at our monthly Select Vestry meetings. The Parish operates three accounts – a General Account, a Building Fund Account and a Mission Account.

Total income for the year was £248,446 (2022: £250,003) with total expenditure of £228,249 (2022: £263,395) with a surplus being generated of £20,197 (2022: £13,392 deficit).

Funds held in the Parish bank accounts at the year end totalled £55,456(2022: £39,090).

The Rector and Curates are paid directly by the Parish, receiving stipends, locomotory allowance, and expenses of office in accordance with figures approved by the General Synod of the Church of Ireland. The curates also receive a housing allowance in lieu of a curatage.

It is the policy of the parish that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three month’s core costs. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the parish’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Going Concern

Considering the above and current year budgets the Trustees are satisfied that there are adequate funds in place to ensure that the parish can continue its activities and the financial statements for the year ended 31 December 2023 can be approved as a going concern.

The trustees have assessed the major risks to which the parish is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

Governing Document and Constitution of the Charity

Chapter III of the Constitution of the Church of Ireland governs parishes and parochial organisations. The Select Vestry members are the Charity Trustees.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr Stephen McKinty Mr Gordon Smith Miss Krystal Mohn (Resigned 26 March 2023) Mr Kenneth Wilson Mr Richard Rea Mr Eric Hudson

BELVOIR PARISH CHURCH

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Mr Christopher Scott Mr Carson Bell (Resigned 26 March 2023) Rev Adrian McCartney Mr Alan Brown Ms J Murphy (Resigned 26 March 2023) Ms D Brown (Resigned 26 March 2023) Ms T Haylett Ms Helen Livingston Mrs Wendy Boal Mrs Marion Thompson Mr Kenneth Boal Ms S Thompson (Appointed 26 March 2023) Ms L Taylor (Appointed 26 March 2023) Ms R Patton (Appointed 26 March 2023) Mr Roland McKane (Appointed 26 March 2023)

Recruitment and appointment of Select Vestry (Trustees)

All members of the Church of Ireland who are over the age of eighteen and are either resident or accustomed members of the congregation may register as members of the General Vestry of the Parish, allowing them to attend and vote at meetings of the General Vestry and to stand for election to the Select Vestry. Meetings of the General Vestry are held at least once a year. The Select Vestry is elected at this meeting. Select Vestry members will hold their position for one year and may be re-elected annually. There is no limit on the number of terms which may be served.

The Annual Easter Vestry (AGM) was re-instated in its usual calendar location in the two weeks before or after Easter.

Clergy

Rev Adrian McCartney (Rector).

Principal Office-bearers

Church Treasurer Mr Chris Scott; Honorary Secretary Miss Krystal Mohn; Rector’s churchwarden Mrs Wendy Boal; People’s churchwarden Mr Eric Hudson; Rector’s Glebewarden Mr Richard Rea; People’s Glebewarden Mr Ken Wilson.

Other service providers who are not Trustees

Independent Examiner; Alan Moore, Moore Braniff Chartered Accountants Bankers; Danske Bank

Organisational Structure

The Select Vestry is responsible for the day to day management of the furnishings, fabric and finance of the Parish. It is generally chaired by the incumbent (Rector) and by the Area Dean during vacancy. Special meetings may be convened at any time by the chairperson or churchwardens.

The Trustees report was approved by the Board of Trustees.

Mr Eric Hudson

Trustee Dated: 15 April 2024

BELVOIR PARISH CHURCH

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF BELVOIR PARISH CHURCH

I report to the trustees on my examination of the financial statements of Belvoir Parish Church (the parish) for the year ended 31 December 2023.

Responsibilities and basis of report

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 65(3) of the Charities Act (NI) 2008 (the Act) and that an independent examination is needed.

I report in respect of my examination of the parish’s financial statements carried out under section 65 of the 2008 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 65(9) of the 2008 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Moore Braniff

2 Beechill Business Park 96 Beechill Road Belfast BT8 7QN Northern Ireland

Dated: 11 April 2024

BELVOIR PARISH CHURCH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
202,034
42,537
-
Other trading activities
4
-
3,159
-
Other income
5
716
-
-
Total income
202,750
45,696
-
Expenditure on:
Charitable activities
6
167,398
60,541
-
Other
10
189
121
-
Total expenditure
167,587
60,662
-
Net income/(expenditure) for the year/
Net movement in funds
35,163
(14,966)
-		 Total
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2022
2022
2022
£
£
£
£
244,571
175,158
63,990
-
3,159
-
9,164
-
716
1,691
-
-
248,446
176,849
73,154
-
227,939
180,399
82,338
-
310
235
423
-
228,249
180,634
82,761
-
20,197
(2,373)
(11,019)
-		 Total
2022
£
239,148
9,164
1,691
250,003
262,737
658
263,395
(13,392)

BELVOIR PARISH CHURCH

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
Notes
£
£
£
Gross transfers between funds
-
-
-
Net income/(expenditure) for the year/
Net movement in funds
35,163
(14,966)
-
Fund balances at 1 January 2023
25,884
23,298
340,000
Fund balances at 31 December 2023
61,047
8,332
340,000		 Total
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2022
2022
2022
£
£
£
£
-
1,412
(1,412)
-
20,197
(2,373)
(11,019)
-
389,182
28,257
34,317
340,000
409,379
25,884
23,298
340,000		 Total
2022
£
-
(13,392)
402,574
389,182

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

BELVOIR PARISH CHURCH

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
14
Cash at bank and in hand
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
Unrestricted funds - designated
Unrestricted funds - general		 2023
£
6,000
55,455
61,455		 £
347,924
61,455
409,379
340,000
8,332
61,047
409,379		 2022
£
6,000
39,089
45,089		 £
344,093
45,089
389,182
340,000
23,298
25,884
389,182

The financial statements were approved by the Trustees on 15 April 2024

Mr Eric Hudson Trustee

BELVOIR PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

Belvoir Parish Church is a member of the Church of Ireland..

1.1 Accounting convention

The financial statements have been prepared in accordance with the parish's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The parish is a Public Benefit Entity as defined by FRS 102.

The parish has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the parish. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the parish has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the parish.

1.4 Income

Income is recognised when the parish is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the parish has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the parish has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

BELVOIR PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Not depreciated. Plant and machinery 25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the parish reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The parish has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the parish's balance sheet when the parish becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

BELVOIR PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the parish’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the parish is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the parish’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Unrestricted
funds
funds
general
designated
2023
2023
£
£
Donations and gifts
202,034
41,538
Other general grants
-
999
202,034
42,537		 Total
Unrestricted
Unrestricted
funds
funds
general
designated
2023
2022
2022
£
£
£
243,572
175,158
62,791
999
-
1,199
244,571
175,158
63,990		 Total
2022
£
237,949
1,199
239,148

BELVOIR PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

4 Other trading activities
Unrestricted Unrestricted
funds funds
designated designated
2023 2022
£ £
Fundraising events 3,159 9,164
5 Other income
Unrestricted Unrestricted
funds funds
general general
2023 2022
£ £
Other income 716 1,691
6 Charitable activities
Charitable Charitable
Expenditure Expenditure
2023 2022
£ £
All Nations, Larder and Kunda projects 11,800 9,000
Lunch Bunch & Meals Food Support projects 10,203 9,163
Parish Winter Assistance Grants - 2,600
Community Projects 9,542 18,032
All Nations Harvest project 345 3,420
Summer Madness Funding 1,380 765
33,270 42,980
Share of support costs (see note 7) 194,669 219,757
227,939 262,737
Analysis by fund
Unrestricted funds - general 167,398 180,399
Unrestricted funds - designated 60,541 82,338
227,939 262,737

BELVOIR PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

7 Support costs

Support costs
Governance
costs
£
£
Staff costs
125,389
-
Depreciation
3,394
-
Church running costs from the Building Fund
238
-
Donations to India
16,375
-
Travelling expenses to India
-
-
Repairs and maintenance to Church and rectory
14,578
-
Church running costs from general funds
14,150
-
Diocesan Dfund
13,498
-
Administration costs
5,753
-
Programme costs
1,294
-
Charitable subscriptions
-
194,669
-
Analysed between
Charitable activities
194,669
-		 2023
£
125,389
3,394
238
16,375
-
14,578
14,150
13,498
5,753
1,294
-
194,669
194,669		 2022
£
145,749
1,588
4,808
13,105
636
19,202
10,458
13,008
9,142
1,432
629
219,757
219,757

Charitable subscriptions

Support costs includes payments to the independent examiner (Moore Braniff Chartered Accountants) of £1,056 (2022£960). Support costs also includes payments to Moore Braniff Chartered Accountants for payroll services of £672 (2022- £864).

8 Trustees

The Parish paid expenses of £2,143 (2022-£nil) relating to the running costs of Glebe House which is occupied by the Rector.

Payments were made by the Parish during the year either to or on behalf of the Incumbent or Curates, being in respect of stipend paid, locomotory expenses, office allowance made in accordance with approved rates by the RCB, These amounts are included in the Staff Costs totals in note 9.

Pension contributions made regarding the Incumbent or Curates in accordance with approved rates by the RCB. These amounts are included in the Other pension costs total in note 9.

The Parish also reimbursed the Trustees £308 (2022: £979) for items purchased by them on behalf of the Parish.

No Trustee received remuneration for their services as a Trustee to the Church.

BELVOIR PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

9 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was more than £60,000 is as
follows:
Employees with salaries below £60,000		 2023
Number
5
2023
£
111,608
-
13,781
125,389
2023
Number
4		 2022
Number
4
2022
£
123,036
5,917
16,796
145,749
2022
Number
4

BELVOIR PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

10 Other

Financing costs

Unrestricted Unrestricted Total Unrestricted Unrestricted Total
funds funds funds funds
general designated general designated
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
189 121 310 235 423 658
189 121 310 235 423 658

BELVOIR PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12 Tangible fixed assets

Land and
buildings
Plant and
machinery
£
£
Cost
At 1 January 2023
340,000
13,191
Additions
-
7,225
At 31 December 2023
340,000
20,416
Depreciation and impairment
At 1 January 2023
-
9,098
Depreciation charged in the year
-
3,394
At 31 December 2023
-
12,492
Carrying amount
At 31 December 2023
340,000
7,924
At 31 December 2022
340,000
4,093		 Total
£
353,191
7,225
360,416
9,098
3,394
12,492
347,924
344,093

13 Heritage assets

Assets retained for the Parish's own use

The assets of the Parish, retained for its own use comprise:-

The Church Building is deemed to be a Heritage asset as defined by the Charities SORP (FRS102). This Heritage asset is 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 Parish Centre is physically attached to the Church as such is not separable as an individual asset. As such it is deemed to be a Heritage asset and no value is ascribed to it in the Statement of Assets and Liabilities.

The Church Rectory is included in the accounts at cost. No depreciation has been provided on the Church Rectory as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years.

Fixture and Fittings (where cost is over £5,000) are recognised at cost and are depreciated on a straight line basis over a period of 4 years.

BELVOIR PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

14 Debtors
2023 2022
Amounts falling due within one year: £ £
Prepayments and accrued income 6,000 6,000

Debtors at the year end related to a Gift Aid claim for 2023:£6,000 (2022: £6,000) donations of to be lodged with HM Revenue and Customs.

15 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Designated Funds at the year end of £8,332 (2022: £23,298) are held for five purposes:

Missions and other projects £2,451 (2022: £13,653) Harvest £Nil (2022: £nil) Christmas meals appeal £44 (2022:£nil) India appeal £2,901 (2022:£6,245)

BELVOIR PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

16 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
Designated
funds
Restricted
2023
2023
2023
£
£
£
Fund balances at 31 December 2023 are represented by:
Tangible assets
7,924
-
340,000
Current assets/(liabilities)
53,123
8,332
-
61,047
8,332
340,000		 Total
Unrestricted
Designated
funds
Restricted
2023
2022
2022
2022
£
£
£
£
347,924
4,093
-
340,000
61,455
21,791
23,298
-
409,379
25,884
23,298
340,000		 Total
2022
£
344,093
45,089
389,182

BELVOIR PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

17 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).