St. Clements Parish Church Statement of Flnandal Artivitles Year ended 31 De¢ember2022 Unrestrlrted Funds 2022 Restritted Fund5 2022 Total 2022 Total 2021 Income aThd endowments from". Donations & le8aties Charitable activities Investments Other Income 43,038 3.572 2.192 16343 43,093 3,572 2.192 16343 27,223 31,919 2,420 16,548 Totsl income and endowments 65,145 6S200 78,110 Expendlture on: Charitable artlvities 89,919 90,031 85,490 Total Expendlture 89,919 112 90031 85,490 Net Expenditure 124.7741 (57) 124oaii 17.3801 other recognised galns Gain on revaluation of property ILossllGain on revaluation of Investments 140.000 8,612 16,936) (6.936) Net movement In funds {31.710) 157) 131.7671 141,232 Reconclllation of funds: Total funds brought forward 139,057 420,057 559,114 417,882 Total funds carried forward 107,347 420,000 527,347 559.114 All Income and expenditure derives from continuing activities.
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St. Clements Parish Church Note5 to the financlal statements Year ended 31 December2022 Summary of signlficant a¢counting pollaes The princlpal accounting polictes adopted* judgements and key sourtes of estimation uncertainty in the prepardtion of the financial statements are as follows.. a) General infomiation and basis of preparatlon St Clements Parish Church, is a charity and is part of the regISted charlty, Belfast/Belfast/St aernentlst Clement/Down & Dromorelchurch Of Ireland which re8lStered with The Charity Commission for Northern Ireland on 24, March 2015. The address of the reglstered office 15 Templemore Avenue. Belfast BT5 4FJL The nature of the charitvs operations and principal activities arethe advancement of religion. Belfa5t/8elfast/St Clementlst aemenVDown & Dromore/Church Of Ireland, a charitabletnjst is constituied under a trust deed dated 24, March 2015. Belfast/Belfast/St Clement/St aementlDown & Dromore/Church of Ireland constitutes a public benefft entlty as defined by FRS 102. Statement ofcom Ilance The financial statements have been prepared In accordance with Accountlng and Reporting by Charitles.. Statement of Recommended Practice appllcable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charit1&£ Art (Northern Ireland) 2008, The Charlties (Accounts and Reports) Regulation5 (Northern Ireland) 2015 and UK Generally Accepted Practice as it applies frorn l January 2015. The financial statements have been prepared on the going Conrn basis under the hlstorical cost convention, modified to Include certain items at fair value. The financial ststements are presented in sterllng which is the functional currency of the charity and rounded to the nearest £1. The significant accounting policie5 applied in the preparation of these financial statements are set out below. These policie5 have been consistently applied to all years presented unless othe1$e stated. b) Preparatlon of accounts on a golng concern basls The Parish generally meets its day to day workln8 capitsl 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 expettation that it can continue to meet its financial obligations as they fall duefor the foreseeable future. Therefore, these financial statements have been prepared on a going concem basis.
St. Clements Parish Church Notes to the financlal statéments Icontlnued) Year ended 31 December 2022 cl Tangible assets The assets ofthe Parish comprise:. Church Building and Grounds Parish Hall Rectory The Church Building and Grounds are deemed to be Heritsge assets as defined by the Charities SORP IFR51021. These Heritage assets are not included on the balance sheet as Informatlon on the cost or valuation is not available and such inforniatlon cannot be obtained at a cost commensurate wEth the beneflt to the users of the accounts and to the parish. The Parish Hall 15 attached to the Church building. As a result this building Is not recognised In the parfsh balance sheet The Rectory 15 recognised at Its deemed market value. No depreciation has been provided on the propertlw as the current estimated residual value is not less than Its carrying value and the remaining useful life currently exceeds Soyears. d) Funds Funds are classified as either restricted funds or untrICted funds. defined ag follows. Regtrfcted funds are fund5 5ubjett to specific requirements as to their use whlch 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 conditlon that the original capltal sum is not reduced, but the Income there from is used forthe purpose defined in accordance with the objects of the Parish. Unre5trtcted fund5 are expendable at the dlscretion of the trustees In furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the dlscretlon of the trustee5 for a partlcular purpose. they a (Je51gfiated as separats fund. This designation has an administrative purpose only and does not legally restrirt the trustees, discretion to apply thefund. el Crltlcal accountlngJudgements and estimation uncertalnty Estimates andjudgments made in the proce55 of preparin8 the financial statements are continually evaluated and are based on historical experlence and other frdctors, including expettations of future events that are believed to be reasonable underthe circymstances. The Trustee5 do not conslder that there are any critical judgments made in applySng the Parish's accounting policies or that there are any critlcal accounting estlmates or assumptlons whlch may have a significant rlsk of causing a material adjustment to carrying amounts of a55ets and Ilabilitie5 Within the nextfinancial year.
St. Clements Parish Church Notes to the flnancial ststernents (contlnued) Year ended 31 December2022 Donations and legades Unrestricted Funds 2022 Restrirted Funds 202Z Total 2022 Totsl 2021 Weekly envelopes / FWO & collettions Tax recovered on donations Other 31,715 11,0 309 43,038 55 31,TlO 11,014 309 43,093 27,183 40 27,223 55 Charltsble activitles Unrestricted Funds 2022 Restrlcted Funds 2022 Total 2022 Total 2021 Fundraising Grants L112 2.460 3572 1,1 2A60 372 1,244 30.675 3L919 Investment income Unrestricted Funds 2022 Restricted Funds 2022 Total 2022 Total 2021 8ank interest Dividend income 50 2.142 2.192 50 2.142 2.192 28 2,392 2,420
St. Clements Parlsh Church Notes to the finandal ststements (continuedl Year ended 31 December 2022 5. Other I0me Unrestricted Fund5 2022 Restricted Funds 2022 Total 2022 Total 2021 Rental income Use of Hall- Oasi5 14.204 2.139 16,343 14,204 2.139 16,343 11.917 4,631 16.548 6. Analysis of Expenditure Unrestrfcted Funds 2022 Restrlrted Funds 2022 Total 2022 Total 2021 Charitable Activities Clergy stipend Outreach worker Diocesan a55e5sment Church repairs New bollerfor Rectory Other repairs & malntenance RatÉs & water charges Heat and light Insurance Repayment of grantto RCB Charitsble donations Outreach expenses Professional expenses Independent examinerf5 fee Other expenses Z8385 16.599 9.493 28.385 16,599 9.493 27,666 22,904 9,337 2,670 3.490 1,260 2A22 7,277 2N75 3N90 1,260 2A22 7,277 2A75 5,ODO 1812 1376 5,315 2.280 2,788 5,382 112 1,505 3.752 259 L356 3,258 5?82 690 4.658 690 4,658 Total expendlture 89.919 90031 85,490 7. Taxatlon St Clement's Parish Church is OgnISed as a charityforthe purposes of appllcabletsxation legtslatlon and istherefore not subject to taxation on its charitsble artlvitles.
St. Clements Parish Church Note5 to the financial statements (contlnued) Year ended 31 De¢ember2022 Anatysls of staff costs, trustee remuneratlon and expenses and the Cost of keymanagement personnel 2022 2021 Stipend and salaries 44.984 50,570 Total 44,984 50.570 The average number of employee5 during the year. calculated on the basls of a head wunt, wa5 as follows: 2022 Number 2021 Number MinÉsterial stsff Outreach worker Ipart timel Administrative Ipart timel The are no employees in receipt of employee benefits in excess of £60.OCQ Key Munagement ond frustees Key management are deemed to comprlse the Trustees. The Parish has paid a total of £28.835 (last year- £27,666) to the Diocese of Down & Dromore as its share ofthe costs of a Local Ordained Minister. During 2022. the Outreach worker and administrative staff total salary c05t5 were £16,599 (last year- £22,904). No trustee or a person related to a trustee had any personal interest in any contract or transactlon ented into bythe charity durlng the year.
St. aements Parish Church Notes to the finandal statements {contlnued) Year ended 31 December2022 9. Tan8lble red assets Bulldlngs Equ5pment Total Cost At l January 2022 Revaluation Additions Disp0501s At 310ecember 2022 420,000 420,(th) 420,000 420,C The cost of the rectory is ststed at its deemed market value. TheTru5tees have revalued the rettory premises hawng taken Into account increases in local property value5. As noted In the accounting policie5, the Church buildinB and Parish Hall are deemed to be heritsge assets and have not been included in the balance5heet total. 10. Analysis of Net AssetsAmon8 Funds General Restrirted Total Fixed Assets Current A55ets Nèt assets at 31 Dec 2022 420.000 420,( 107,347 527.347 107,347 107347 420.01)0