Glencraig Parish Church
Statement of Flnanclal Artlvitie$
Year ended 31 December 2024
un￿StrICted
Funds
2024
Restrirted
Funds
2024
Total
2024
Total
2023
Income and endowments from:
Donations & le8acie5
Charitable activities
Other income
Revaluation of assets
Investments
82,784
7,975
82,892
8,735
2,565
62,139
13,890
3,832
10,000
1,002
760
2,565
1,085
750
I￿35
Total Income and endowments
91,844
4,183
%.027
90,863
Expendlture on:
Charltable activlties
111,486
1.096
112,582
116,557
Total Expendlture
111.486
Im6
112.582
116,557
Net (Expendlture)/lncorne
119,642)
3￿87
{16,5551
{25,694)
Reconclllatlon of funds:
Total fund5 brou8ht forward
75,761
666,088
741￿49
741,849
Total funds carrled forward
li
56,119
669,175
725,294
716,155
All Income and expendlture derlves from contlnulng actlvltles.

Glencrai8 Parlsh Church
Balance Sheet
As at 31 December 2024
Note
2024
2023
Flxed Assets
Tangible assets
io
645,000
645,000
Current Assets
Investments with RCB
Cash at bank and in hand
21,838
58,456
80,294
21,088
75,761
96,849
Net Current Assets
725,294
96,849
Net Agsets
725.294
741,849
Charlty Funds
Restrlcted funds
Unrestrlcted funds
12
12
669,175
56,119
666,088
75,761
Total charlty funds
725,294
741,849
These financlal statements were approved and authorlsed for Issue by the Trustees on .....,
and signed on Its behalf by:"
Rev Catherine Simpso
Rector
Tony Greg8- Honorary Treasurer
The notes on pages 3 to 9 form an Integral part of these financlal statements.

Glencraig Parlsh Church
Notes to the flnanclal statements
Year ended 31 December 2024
l. Summary of $18nlficant accountlng pollcles
The prlncipal accounting policies adopted, judgements and key sources of estimation uncertalnty in the preparatlon of
the flnanclal statements are as follows..
a) General Informatlon and basls of preparatlon
Glencralg Parlsh Church, Is a charity and is part of the reglstered charity, Holywood/Glencraig/Holy
Trinity/Down & Dromore/Church Of Ireland which registered with The Charity Commission for Northern
st
Ireland on 21 April 2015. The address of the registered office is 6 Seahill Road, Holywood, County Down, BT18
OOA. The nature of the charity's operatlons and prlnclpal activities are the advancement of religion.
Holywood/Glencraig/Holy TrlnltylDown & Dromore/Church Of Ireland, a charltable trust is constltuted under a trust
st
deed dated 21 April 2015.
Holywood/Glencraig/Holy Trinity/Down & Dromore/Church Of Ireland constitutes a publlc beneflt entity as defined
by FRS 102.
Statement of Com
Ilance
The financial statements have been prepared In accordance wlth Accountln8 and Reporting by Charltles: Statement
of Recommended Practice applicable to charities preparlng thelr accounts In accordance wlth the Flnancial
Reportlng Standard applicable in the UK and Republlc of Ireland IFRS 1021, the Flnancial Reportlng Standard
appllcable In the United Kingdom and Republic of I reland {FRS 1021, the Charlties Act (Northern Ireland) 2008, The
Charltles {Ac¢ounts and Reports) Re8ulations (Northern Ireland) 2015 and UK Generally Accepted Practlce as Ft
applles from l January 2015.
The flnanclal statements have been prepared on the going concern basls under the hlstorleal cost conventlon,
modlfled to Include certaln Items at falr value. The flnancial statements are presented in sterlln8 which is the
functional currency of the charity and rounded to the nearest £1.
The signiflcant accounting pollcies applied In the preparation of these flnanclal statements a￿ set out below, These
policies have been consistently applied to all years presented unless otherwise stated.
bl Preparatlon of accounts on a goln8 concern ba$ls
The Parish generally meets its day to day working capttal requirements from its annual Income. The Trustees have
obtalned and reviewed cash flow forecasts for the coming year and based on these are satisfled 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 bas15.

Glencraig Parlsh Church
Notes to the financial statements (contlnued)
Year ended 31 December 2024
c) Income
Where incoming resources have related expenditure {as with fundraising income) the incoming resources and related
expenditure are reported gross in the Statement of Financia l Activities.
Voluntary Income, Standing Orders, Plate Collectlons and Weekly Envelopes are accounted for on a cash receipts basis as
the amount is receivable.
Income arising from the rental of Parlsh Halls to third parties is recognised when the parish has entitlement to the funds,
any performance conditions attached to the Income have been met, it is probable that the income will be recelved and
the amount can be measured reliably.
Income from Bovernment and other grants, whether 'capital' grants or 'revenue' grants, is rerognised when the charity
has entitlement to the funds, any performance conditions attached to the 8rants have been met, It is probable that the
Income wlll be received and the amount can be measured rellably and is not deferred.
Legacles are included wlthin Income under elther unrestricted or restricted funds accordlng to the terms under whlch the
donatlon Is made and when the amount can be quantified wlth reasonable certalntv.
Donatlons and glfts In klnd are brought into the accounts at thelr falr value to the Parlsh where thls can be quantlfled.
The value of services provlded by volunteers has not been included In these accounts,
Investment income is included when recelvable.
d) Expendlture
Expenditure Is recognlsed on an accruals basis once there is a legal or constructive obligation to make a payment to a
third party, it is probable that settlement will be required and the amount of the obllgation can be measured reliably.
Irrecoverable VAT Is charged as a cost agalnst the actlvlty for whlch the expendlture was Incurred.
The charity contrlbutes to a deflned contribution pension scheme on behalf of certain employees, The assets of the
scheme are held separately from those of the charlty in an independently administered fund and contributions are
charged to the Statement of Flnanclal Actlvltles In the perlod to whlch they relate.
e) Tanglble assets
The assets of the Parish comprise...
Church Buildlng and Grounds
Parish Hall
Car Park
Rectory
The Church Building and Grounds are deemed to be Heritage assets as defined by the Charities SORP IFRS1021. These
Heritage assets are not included on the balance sheet as information on the cost or valuation is not available and such
informatlon cannot be obtained at a cost commensurate with the benefit tothe users of the accounts and to the parish.
The Parish Hall is situated beside the Church building. As a result, this building is not recognised in the parish balance
sheet.

Glencraig Parish Church
Notes to the flnanclal statements Icontinued)
Year ended 31 December 2024
The Rectory is recognised at its deemed market value No depreciation has been provided on the properties as the
current estimated resldual value Is not less than IYS carrying value and the remalnln8 useful life currently exceeds 50
years.
f) Funds
Funds are classlfied as either restrlcted funds or unrestricted funds, deflned as follows.
Restrlcted funds are funds subject to specific requirements as to their use which may be declared by the donor or with
thelr authority or created through legal processes, but still within the wider objects of the Parlsh.
Endowment funds are funds which have been given on the condition that the ori8Snal capital sum is not reduced, but the
income there from Is used for the purpose defined in accordance wlth the objects of the Parish.
Unrestrlctèd 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. Thls designation has an administrative purpose only and does not legally restrict the trustees, discretion
to apply the fund.
g) Crltlcal accountlng Judgements and estlmatlon uncertalnty
Estimates and Judgments made In the process of preparing the flnancial statements are contlnually evaluated and are
based on hlstorlcal experlence and other factors, Includlng expectatlons of future events that are belleved to be
reasonable under the clrcumstances. The Trusteès do not consider that thore a re any critical judgment5 made in applying
the Parish's accounting pollcles or that there are any critlcal accountln8 estlmates or assumptlons which may have a
slgnlflcant rlsk of causlng a materlal adjustment to carryln8 amounts of assets and liabilities within the next financial
year.
2. Donatlons and legacles
Unrestrlrted
Funds
2024
Restrlcted
Funds
2024
Total
2024
Total
2023
Weekly envelopes / FWO & collections
Tax recovered on donations
Legacies
67,604
13,680
67,712
13,680
1,500
82,892
46,802
15,087
250
62,139
82,784

Glencralg Parish Church
Notes to the financial statements (continued)
Year ended 31 December 2024
3. Charitable actlvltles
Unrestrlcted
Funds
2024
Restrlcted
Funds
2024
Total
2024
Total
2023
Fundraising
Lenten & Harvest challenge
Parish organisations
472
5,679
1,824
7,975
760
1,232
5,679
I￿24
8,735
4,149
8,255
1,486
13,890
760
4 Other Income
Unrestrlrted
Funds
2024
Restrlcted
Funds
2024
Total
2024
Total
2023
Board of Educatlon
RCB grants
TBFThompson grant
Mlndmatters
1,225
1.225
1,332
2,500
1,250
2,565
1,250
2,565
3,832
Revaluatlon of assets
Unrestrlcted
Funds
2024
Restrlrted
Funds
2024
Total
2024
Total
2023
Car park
6 Investment Income
Unrestrlcted
Funds
2024
Restrlcted
Funds
2024
Total
2024
Total
2023
Bank interest
Other interest- RCB
Dividend income
941
941
750
144
1,835
221
648
133
1,002
750
144
1,085
750

Glencraig Parlsh Church
Notes to the financlal statements (continued)
Year ended 31 December 2024
Analys1$ of Expendlture
Unrestrlcted
Funds
2024
Restrlcted
Funds
2024
Total
2024
Total
2023
Charltsble Artlvitles
Cler8V Stipend & salaries
Diocesan assessment
Vicarage expenses
Heat, light & Insurance
Church repalrs & maintenance
Hall expenses
Mlnistry expenses
Adminlstration expenses
Independent examlnerfs fee
Other accountancy fees
Other professional expenses
Bank fees & Interest
Sundry expenses
Charitable donatlons
Lunches & catering
Parish or8anisatlon expenses
67,927
12,696
2,396
10,655
6,711
1,458
366
67,927
12,696
2.396
10.655
6,711
IA58
366
5,789
70,655
11,892
2,006
9,581
4,800
1,688
705
6,714
816
820
862
363
3,811
1,308
519
17
126
602
602
374
1,952
iio
576
374
2,162
870
576
210
760
Total expendlture
111,486
1,096
112,582
116,557
8 Taxatlon
Glencralg Parlsh Chtjrch Is recognlsed as a charity for the purposes of appllcable taxation legislation and Is therefore
not subject to taxatlon on Its charitable activities.

Glencrai8 Parish Church
Notes to the flnanclal Statements (contlnued)
Year ended 31 December 2024
9 Analysls of staff costs, trustee remuneratlon and expenses, and the cost of key management personnel
2024
2023
Stipend and salaries
67,927
70,655
Total
67,927
70,655
The average number of employees during the year, calculated on the basls of a head count, was as follows:
2024
Number
2023
Number
Ministerial staff
Outreach worker (until August 2024}
There are no employees in racelpt of employee benefits in excess of £60,000
Key Munagernent ond Trustees
Key management are deemed to comprlse the Trustees.
No trustee or a person related to a trustee had any personal Interest in any contract or transaction entered into by the
charity during the year.
10 Tanglble flxed assets
Offlce
Equlpment
Bulldlngs
Car Park
Total
Cost
At l January 2024
Additlon5
Disposals
At 31 December 2024
635.0(Kl
10,000
645,000
635,000
lo,￿0
The cost of the rectory and the related 8rounds are stated at its deemed market value.
The cost of the car park is stated at its market value.
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.

Glencraig Parlsh Church
Notss to the financlal statements Icontinued)
Year ended 31 December 2024
11 Analysls of Net Assets Among Funds
General
Restrlrted
Total
Flxed Assets
Current Assets
Net assets at 31 December 2024
645,000
24,511
669,511
645,000
80,294
725,294
55,783
55.783
12 Funds movement
l January
2024
31 December
2024
Income
Expendlture
Transfers
Generdl fund
Buildin8 fund
Mlnistry & mlssion fund
Total unrestrlcted funds
20,792
26,035
28,934
75,761
91,844 (103,2781
9,358
26,035
20,726
56,119
18,2081
111,486
91.844
Genèral
RCB- Mind Matters
Board of Educatlon
Property fund
Monies held with RCB
Total restrlcted funds
958
1,250
1,225
(760)
1210)
1126)
198
1,040
1,099
645,000
21,838
669,175
645,000
21,088
666,088
750
(1,096)
Total funds
741,849
96,027 {112,582)
725,294
l January
2023
31 December
2023
Income
Expendlture
Transfers
General fund
Building fund
Minlstry & misslon fund
Total unrestrlcted funds
45,027
26,035
38,587
109.649
76,910 {101,145)
20,792
26,035
28,934
75,761
19,653)
110,798)
76,910
General
RCB- Mind Matters
Ministry & Mission Fund
Property fund
Monies held with RCB
Total restrlcted funds
300
2,152
806
{1,1061
{2,1521
{2,500)
2,500
10,000
648
13.954
635,000
20,440
657.892
645,000
21,088
666,088
5,758)
Total funds
767.541
90￿64 (116,556)
741.849