St Clement's Parlsh Church ststement of Financlal Artlvlties Year End 31st December 2023 Unrestricted Restrlcted Funds Funds 2023 2023 Total 2023 Total 2022 Note Income & Endowments from: Donations & Legacies Charitable Activities Investments Other Income 35,544 3.800 2,152 17.426 35,544 4,232 2,152 17,426 43,093 3,572 2,192 16,343 432 Income & Endowments 58.922 432 59,354 65,200 Expendlture on: Charitable Activities 75,663 432 76,095 90,031 Total Expenditure 75.663 432 76.095 90,031 Net Expenditure 16,741 16,741 24.831 Other Recognised Galns Gain on revaluation of property (Loss)/Gain on revaluation of Investments 1,851 1,851 ,936 Net Movement In Funds 14,890 14,890 31,767 Reconciliation of Funds Funds Brought Forward 92,448 420,000 512,448 559,114 Total Funds Carrled Forward 92,448 420,000 512,448 527,347 All Income & Expendlture derive from continuing artivitles
St. Clement Parlsh Church Balance Sheet As at 31st December 2023 Notes 202 2022 Fixed Assets Tangible assets 420,000 420,000 Current assets Investments with RCB Cash at bank and in hand 63,527 28,921 92,448 61,676 45.671 107,347 Credltofs Amounts falling due within one year Net Current Assets 92,448 107,347 Net Assets 512.448 527.347 Charlty Funds Restricted Funds Unrestricted Funds io io 420,000 92,448 420.000 107,347 Total Charity funds 512.448 527,347 These financial statements were approved and authorised for issue by the Trustees on . and signed on its behalf by . X%:. .,.APL.lQlol Llnda Campbell - Secretary Rev. Colin Blrnle- Mlnlster The notes on pages 3 to 8 form an integral part of these financial statements
St. Clements Parish Church Notes to the financlal statements st Year*nded 31 December 2023 l. Summary of significant accounting policies The principal accounting policies adoptedi judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows, Al General information and basis of preparation St Clements Parish Church, is a charity and is part of the registered charity, Belfast/Belfast/St. Clements/ St Clements/ Down & Dromore/Church of Ireland which registered with The Charity th Commission for Northern Ireland on 24 March 2015. The address of the registered office is Templemore Avenue, Belfast BT5 4RF. The nature of the charitrfs operation and principal activities are the advancement of religion. Belfast/BelfastlSt Clements/St Clements/Down & Dromorel Church of Ireland, is a charitable trust is th constituted under a trust deed dated 24 March 2015. Belfast/Belfast/St Clements/St Clements/Down & Dromore/Church of Ireland constitutes a public benefit entity as defined by FRS 102. Statement of Com liance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of IrelandlFRS102}, the Charities Att { Northern Ireland) 2008, The Charities{Accounts and Reports) Regulations (Northern Ireland) 2015 and UK Generally accepted Practise as it applies 2015. The Financial statements have been prepared on the going concern basis under the historic cost convention, modified to include certain items at fairvalue. 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 unless otherwise stated. b) Preparation of accounts on a going concern basis The Parish generalW meets its day to day working capital requlrements 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 tomeet its financial obligations as they fall due for the foreseeable future, Therefore, these financial statements have been prepared on a going concern basis.
St Clements Parlsh Church Notes to the Flnancial Statements (continued) Year ended 31" December 2023 cl Tangible assets The assets of the Parish comprise:
Church Building and Grounds Parish Halls Rectory The Church Building and Grounds are deemed to be Heritage assets a5 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 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 15 not recognised in the parish balance sheet. The Rettory is recognised at its deemed market value. No depreciation has been provided on the properties as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds So years. d) 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 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.
St Clements Parfsh Church Notes to the Flnancial Statements Icontlnued) Year ended 31" December 2023 el Critical accountingjudgements and estimation and 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.
St. Clements Parish Church Notes to Financial Ststements {contlnued) Year ended 31st Decemnber 2023 2 Donations & Legacies Unrestricted Funds 2023 Restrlcted Funds 2023 Total 2023 Total 2022 Weekly Envelopes / FWO & Collections Tax Recovered on Donations Other 30,405 5,019 120 30.405 5.019 120 31,770 11,014 309 35,544 35.544 43,093 3 Charitable Activities Unrestricted Funds 2023 Restricted Funds 2023 Total 2023 Total 2022 Fundraising Grants 1,600 2,200 432 2.032 2.200 1.112 2,460 3,800 432 4,232 3,572 4 Investment Income Unrestricted Funds 2023 Restrlcted Funds 2023 Total 2023 Total 2022 Bank Interest Dividend Income 391 1,762 391 1.762 50 2,142 2,152 2,152 2,192
St. Clements Parlsh Church Notes to Financlal Statements {continued) Year ended 31st Decemnber 2023 5 Other Income Unrestricted Funds 2023 Restrlcted Funds 2023 Total 2023 Total 2022 Rental Income Use of Halls- Oasis 15,447 1,979 15,447 1.979 14,204 2,139 17,426 17.426 16.343 6 Analysis of Expenditure Unrestrlcted Funds 2023 Restricted Funds 2023 Total 2023 Total 2022 Charitable Activities Clergy Stipend Outreach Worker Diocesan Assessment Professional Fees New Boiler for Rectory Other Repairs & Maintenance Rates & Water Charges Heat & Light Insurance Repayment of Grant to RCB Charitable Donations Mission / Outreach Independent Examiners Fees Other Expenses 35,649 10.234 4,301 1,043 35,649 10.234 4.301 1,043 28,385 16,599 9,493 3,490 1,260 2.422 7,277 2,475 5,000 2,900 5,382 690 4,658 5,938 2.587 8.895 2,648 5.938 2.587 8.895 2,648 432 432 2,766 371 1,230 2,766 371 1,230 75,663 432 76,094 90,031 7 Taxatlon St. Clements Church is recognised as a charity for the purpose of applicable taxation legislation and is therefore not sibject to taxation on its charitable activities.
St. Clements Parish Church Notes to Flnancial Statements (continued) Year ended 31st Decemnber 2023 8 Analysis of Staff Costs, Trustee remuneration and expenses, and the cost of key Management personnel. 2023 2022 Stipend and Salaries 45,884 44,984 45.884 44,984 The average number of employeess during the year, calculated on the basis of a head count, was as follows, 2023 Number 2022 Number Ministerial Staff Outreach Worker{Part-Timel Administrative(Part-Time) 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 has paid a total of £30,851 {last year- £28,835) to the Diocese of Down & Dromore as its share of the costs of a local ordained Minister. During 2023, the Outreach Worker and Administrative Staff total salary costs were £ 10,234. The previous year was £22,904. No Trustees or a person related to a Trustee had any personnel interest in any contract or transaction entered into by the charity during the year.
St. Clements Parish Church Notes to Flnanclal Statements (contlnued) Year ended 31st Decemnber 2023 9 Tanglble Fixed Assets Office Equip. Bulldlngs Total Cost as at 1st January 2023 420,000 420.000 Revaluation Additions Disposals as at 31st December 2023 420,000 420.000 The cost of the rectory is stated at its deemed market value. The Trustees have revalued the rectory premises having taken into account the local market property values. 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 Analysls of Net Assets Among Funds General Restrlcted Total Fixed Assets Current Assets 420,000 420,000 92,448 92,448 Net assets at 31st Dec 2023 92,448 420,000 512.448
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