St Mary’s Parish Church, Ballybeen
Statement of Financial Activities
Year ended 31 December 2024
| Note Income and endowments from: Donations & legacies 2 Charitable activities 3 Other trading activities 4 Investments 5 Total Income and endowments Expenditure on: Charitable activities 6 Total Expenditure Net Income Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Funds 2024 £ 230,353 24,600 53 738 255,744 188,699 188,699 67,045 183 67,228 (120,722) (53,494) |
Restricted Funds 2024 £ 4,832 15,000 - - 19,832 6,309 6,309 13,523 (183) 13,340 61,692 75,032 |
Total 2024 £ 235,185 39,600 53 738 275,576 195,008 195,008 80,568 - 80,568 (59,030) 21,538 |
Total 2023 £ 198,679 23,038 41 20 |
|---|---|---|---|---|
| 221,778 180,565 |
||||
| 180,565 | ||||
| 41,213 - |
||||
| 41,213 (100,243) (59,030) |
All income and expenditure derives from continuing activities.
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St Mary’s Parish Church, Ballybeen
Balance Sheet
As at 31 December 2024
| Note Fixed assets Tangible assets 9 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 11 Net assets/(liabilities) Charity Funds Restricted funds 12 Unrestricted funds 12 Total charity funds |
2024 £ 60,000 74,542 22,000 52,542 112,542 91,004 21,538 75,032 (53,494) 21,538 |
2023 £ 60,000 |
|---|---|---|
| 40,511 | ||
| 22,000 | ||
| 18,511 | ||
| 78,511 137,541 |
||
| (59,030) | ||
| 61,692 (120,722) |
||
| (59,030) |
The financial statements were approved and authorised for issue by the Select Vestry on 6 April 2025
Rev J Cheshire
Rev N Gordon
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St Mary’s Parish Church, Ballybeen
Notes to the financial statements
Year ended 31 December 2024
1. Summary of significant accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a) General information and basis of preparation
St Mary’s Church Parish Church, Ballybeen is a charity and is part of the registered charity, Dundonald/Ballybeen/St Mary/Down & Dromore/Church Of Ireland which registered with The Charity Commission for Northern Ireland on 20[th] February 2015. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are the advancement of religion.
Dundonald/Ballybeen/St Mary/Down & Dromore/Church Of Ireland, a charitable trust is constituted under a trust deed dated 20[th] February 2015.
Dundonald/Ballybeen/St Mary/Down & Dromore/Church Of Ireland constitutes a public benefit entity as defined by FRS 102.
Statement of Compliance
The financial statements have been prepared in accordance with 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), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and UK Generally Accepted Practice as it applies from 1 January 2015.
The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
b) Basis of financial statements
As the total income of the congregation is less than £250,000 the Trustees have elected in accordance with the provisions in The Charities (Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis.
c) Preparation of accounts on a going concern basis
The Parish generally meets its day to day working capital requirements from its annual income. The Trustees have obtained and reviewed cash flow forecasts for the coming year and based on these are satisfied that the Parish has resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable future. Therefore, these financial statements have been prepared on a going concern basis.
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St Mary’s Parish Church, Ballybeen
Notes to the financial statements (continued)
Year ended 31 December 2024
d) Tangible assets
The assets of the Parish comprise:-
-
Church Building and Grounds
-
Parish Hall
-
Rectory
The Church Building and Grounds are deemed to be Heritage assets as defined by the Charities SORP (FRS102). These Heritage assets are not included on the balance sheet 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 Hall is attached to the Church building. As a result, this building is not recognised in the parish balance sheet
The Rectory is recognised at its original cost. No depreciation has been provided on the properties as the current estimated residual value is not less than it’s carrying value and the remaining useful life currently exceeds 50 years.
e) Funds
Funds are classified as either restricted funds or unrestricted funds, defined as follows.
Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the Parish.
Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the income there from is used for the purpose defined in accordance with the objects of the Parish.
Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees’ discretion to apply the fund.
f) Critical accounting judgements and estimation uncertainty
Estimates and judgments made in the process of preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical judgments made in applying the Parish’s accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year.
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St Mary’s Parish Church, Ballybeen
Notes to the financial statements (continued)
Year ended 31 December 2024
2. Donations and legacies
| Weekly envelopes / FWO & collections Tax recovered on donations Donations 3. Charitable activities Fundraising Subscriptions Grants 4. Other trading activities Sale of used clothing/dishcloths 5. Investment income Bank interest |
Unrestricted Funds 2024 £ 163,230 36,048 31,075 230,353 Unrestricted Funds 2024 £ - 8,145 16,455 24,600 Unrestricted Funds 2024 £ 53 53 Unrestricted Funds 2024 £ 738 738 |
Restricted Funds 2024 £ - - 4,832 4,832 Restricted Funds 2024 £ - - 15,000 15,000 Restricted Funds 2024 £ - - Restricted Funds 2024 £ - - |
Total 2024 £ 163,230 36,048 35,907 235,185 Total 2024 £ - 8,145 31,455 39,600 Total 2024 £ 53 53 Total 2024 £ 738 738 |
Total 2023 £ 154,294 29,796 14,589 |
|---|---|---|---|---|
| 198,679 | ||||
| Total 2023 £ 990 4,701 17,347 23,038 Total 2023 £ 41 41 Total 2023 £ 20 20 |
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St Mary’s Parish Church, Ballybeen
Notes to the financial statements (continued)
Year ended 31 December 2024
6. Analysis of Expenditure
| Charitable Activities Wages and salaries Diocesan assessment Repairs & maintenance Cleaning expenses Rates & water charges Heat and light Rectory expenses Insurance Equipment Office expenses Charitable donations Outreach expenses Materials for Church/groups Minibus expenses Professional expenses Loan interest Other expenses Coronation party expenses Expenses of Church groups & clubs Total expenditure |
Unrestricted Funds 2024 £ 71,062 11,232 8,850 7,769 935 15,666 7,074 4,157 5,405 2,599 14,180 3,687 3,994 1,703 2,328 13,552 4,677 - 9,829 188,699 |
Restricted Funds 2024 £ - - - - - - 974 - 4,800 535 - - - - - - - 6,309 |
Total 2024 £ 71,062 11,232 8,850 7,769 935 15,666 7,074 4,157 6,379 2,599 18,980 4,222 3,994 1,703 2,328 13,552 4,677 - 9,829 195,008 |
2023 £ 77,275 11,424 12,268 6,003 559 13,206 3,111 3,885 418 2,529 16,880 2,584 3,747 1,435 - 14,074 3,141 500 7,526 180,565 |
|---|---|---|---|---|
7. Taxation
St Mary’s Parish Church, Ballybeen is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities.
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St Mary’s Parish Church, Ballybeen
Notes to the financial statements (continued)
Year ended 31 December 2024
8. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
| Salaries and wages Total |
2024 £ 71,062 71,062 |
2023 £ 77,275 |
|---|---|---|
| 73,219 |
The average number of employees during the year, calculated on the basis of a head count, was as follows:
| Ministerial staff Administration Youth worker |
2024 Number 1 1 1 3 |
2023 Number 1 1 1 |
|---|---|---|
| 3 |
There are no employees in receipt of employee benefits in excess of £60,000
Key Management and Trustees
Key management are deemed to comprise the Trustees. The Parish did not pay any expenses relating the running costs of the Rectory (apart from rates) which is occupied by the rector. One trustee, the Rector, received remuneration during the year.
For the year 2024 the values approved by General Synod and implemented by the Select Vestry of St Mary’s Parish Church, Ballybeen for the financial year was
| Rector | |
|---|---|
| Stipend | £39,651 |
| Locomotory Expenses | £4,533 |
| Expenses of Office Allowance | £800 |
| Mileage expenses | £2,466 |
| Pension contribution | £6,950 |
A company, of which one of the trustees is a director, received £516.58 (2023: £176) for the supply of printing and mailing services to the charity during the year.
The trustees have contributed a total of £70,936 to St Mary’s Parish Church, Ballybeen in 2024 (2023: £48,097).
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St Mary’s Parish Church, Ballybeen
Notes to the financial statements (continued)
Year ended 31 December 2024
9. Tangible fixed assets
| Cost At 1 January 2024 Additions Disposals At 31 December 2024 |
Buildings £ 60,000 - - 60,000 |
Office Equipment £ - - - - |
Total £ 60,0000 - - 60,000 |
|---|---|---|---|
The cost of the rectory is stated at its original cost. As noted in the accounting policies, the Church building and Parish Hall are deemed to be heritage assets and have not been included in the balance sheet total.
10. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Bank loans | 22,000 | 22,000 |
| ==================== | ==================== | |
| . Creditors: amounts falling due after more than one year | ||
| 2024 | 2023 | |
| £ | £ | |
| Bank loans | 91,004 | 137,451 |
| ==================== | ==================== |
11. Creditors: amounts falling due after more than one year
The charity has obtained a 15 year unsecured loan from Ulster Bank in order to fund Church building renovations
12. Analysis of net assets among funds
| Fixed Assets Net Current Assets Creditors falling due after more than one year Net assets at 31 Dec 2024 |
General £ - 37,510 (91,004) (53,494) |
Restricted £ 60,000 15,032 - 75,032 |
Total £ 60,000 52,542 (91,004) 21,538 |
|---|---|---|---|
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St Mary’s Parish Church, Ballybeen
Notes to the financial statements (continued)
Year ended 31 December 2024
13. Going concern
At the balance sheet date, the charity had net assets of £21,358 (2023: net liabilities of £59,030). The deficit on the Unrestricted reserves at the year end was £53,494 (2023: £120,772).
The charity continues to pay off an unsecured loan from Ulster Bank. The total amount due at the year end was £113,004 (2023: £159,451).
The Trustees have reviewed its cash flow forecasts and are satisfied that the charity will be able to continue to meet the loan repayments in the foreseeable future. As a result, the Trustees believe that the charity continues to meet the criteria to be treated as a going concern.
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