CHARITY REGISTRATION NUMBER: NIC 102380
Unaudited Financial Statements
31 December 2023
1
Financial Statements
Year ended 31 December 2023
| Page | |
|---|---|
| Trustees’ annual report | 3 |
| Independent examiner’s report to the trustees | 8 |
| Statement of fnancial activities Statement of fnancial position Notes to the fnancial statements |
9 10 11 |
2
Trustees’ Annual Report
Year ended 31 December 2023
ended 31 December 2023.
Reference and administrative details
Registered charity name
Charity registration number NIC 102380 Principal o2ice The Church O,ice 397 Castlereagh Road Belfast BT5 6AB
The trustees
Rev Ross Wilson Mr Norman Holmes Mrs Kathleen Taylor Mr Greg Gilmour Mrs Jean Matchett Dr Wesley Johnston Mrs Evelyn Jamieson Mr Nicholas McBride Mrs Christine Sergeant Mrs Heather Jardine Dr Barbara Lomas Mrs Rosemary Holmes Mr Brian Je,ers Dr Daniel Livingstone (Resigned 18 April 2023) Mrs Annie Beattie Mrs Helen Brown (Resigned 18 April 2023) Mr Thomas Foster (Resigned 18 April 2023) Mr David Hull (Appointed 18 April 2023) Dr Emma Livingstone (Appointed 18 April 2023) Mrs Lianne Mulholland (Appointed 18 April 2023)
Independent examiner Hopper & Co 6 Doagh Road Ballyclare. BT39 9BG
3
Trustees’ Annual Report (continued)
Year ended 31 December 2023
Structure, governance and management
Governing Document and Constitution of the Charity
Chapter 111 of the Constitution of the Church of Ireland governs Parishes and Parochial Organisation. The Select Vestry members are the Charity Trustees
Recruitment and Appointment of Select Vestry (Trustees)
All members of the Church of Ireland who are over the age of 18 and are either resident within the parish or live elsewhere but have been accustomed members of the congregation for at least three months, 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 as part of this General Vestry meeting. The Select Vestry will hold their positions for a period of one year. Select Vestry members may be re-elected annually and there is no limit on the number of terms which may be served.
Pay and remuneration
The stipend of the Incumbent of the Parish, Revd. Ross Wilson, is paid by the Parish, and is determined in accordance with figures approved by the General Synod of the Church of Ireland. Details may be found in Note 13 to the accounts.
Organisational Structure
The Select Vestry is responsible for the day to day management of the parish. The Select Vestry consists of the member of the clergy serving in the parish, the Churchwardens, the Glebe Wardens and generally not more than twelve other members of the General Vestry elected at the Annual General Meeting of the General Vestry.
The Select Vestry is chaired by the incumbent or other member of the clergy o,iciating in the parish. Select Vestry members are responsible for making decisions.
meetings may be convened at any time by the chairperson or the churchwardens. In 2023, the Select Vestry met 10 times during the year with an average attendance of 95%.
4
Trustees’ Annual Report (continued)
Year ended 31 December 2023
Objectives and activities
The charitable purpose of the Church of Ireland is the advancement of religion.
religion by promoting, through the work of St John’s, Orangefield the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Being open to and engaging with society as a whole and o,ering support for those needing help are fundamental to the practical delivery of the benefits of Christianity.
As a result of activity in the pursuit of the advancement of the Christian religion, St John’s, Orangefield has custody of property and of records, materials and artefacts of significance to the cultural and religious heritage and maintenance of which is undertaken by the Select Vestry of St John’s, Orangefield.
Achievements and performance
The expression of the precepts of the Christian religion through engagement with the general public, and in particular with the disadvantaged, the sick, the elderly and the young is a public benefit. This can be measured and evidenced through increased social integration and pastoral care delivered at the point of need. The direct benefit of participation in Church life includes the enjoyment of public worship and the giving and receiving of pastoral ministry, improved understanding of the values relating to civic engagement, community cohesion and providing a bridge between diverse groups as well as improved educational outcomes through the Church’s ministry of teaching. The beneficiaries are the general public, and the public valuation of the benefits can be evidenced through contributions the continuing witness of the Church. The wider benefit arising out of the fulfilment of our Christian ministry or to lay sta, is essential to the fulfilment of the purpose of the advancement of religion. No Trustee receives remuneration, reward or other private benefit for carrying out their Trustee responsibility. Increased social integration and pastoral care is delivered through (but not restricted to), Prime Timers: fun and fellowship for those age 65+; Tots Together; building up of family through play and parenting input; Knit and Natter; Scouts; Guides; Scottish Dancing; Bowls; Military Modelling and Church Services. Over this last year, we also started up East Belfast Baby Bank which gives help to parents/carers of children aged 0-5 who are finding it very di,icult to cope with the rising costs of children’s essentials. It is run entirely by volunteers from the church and the local community. Referrals can be made by professionals such as Health Visitors, Doctors or Care Workers; but self-referrals can be made on completion of a registration form.
5
Trustees’ Annual Report (continued)
Year ended 31 December 2023
Objectives and activities (cont’d)
enjoyment of cultural and historic buildings and artefacts such as Church plate, furnishings and materials as well as an overall improved appreciation of longstanding Christian heritage. This is demonstrated through on-going provision of access to records and the use made of these records in, for example, research and genealogy, through conservation e,orts in respect of records, property and artefacts and the subsequent and continued request for access and use of our materials by wider society. There is no harm arising from the purpose. The beneficiaries are the general public. No private benefit is received by trustees fulfilling their trustee responsibilities in respect of these records, buildings or artefacts, but in the course of conversation and to make these accessible to the public, the engagement of professional sta, and services is essential but incidental to the fulfilment of the purpose. During 2021 we invested some £560,000 in the refurbishment of our Church building and ancillary rooms, thus ensuring that St. John’s will continue to o,er public enjoyment of our historic – and now modernised – buildings into the future.
The Parish has 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 as well as providing public benefit. Examples include a monthly collection of food to help the disadvantaged in our city through the Storehouse charity and money raised for charities – who are working both locally and worldwide. Our hall is used regularly by di,erent organisations who are serving the needs of all ages in our locality.
Financial review
The results for the year are set out on pages 9 and 10 and should be read in conjunction with the accompanying notes. St John’s had net income resources of (£17,466) (2022 - £29,222). A transfer to unrestricted funds left accumulated unrestricted funds of £44,603 (2022 £22,050. Accumulated restricted funds are £472,231 (2022 £511,579). The unrestricted funds are considered to be essential to provide su,icient sums to cover any unforeseen costs which may arise and fulfil legal obligations of the Parish in the event that current levels of income are not maintained.
6
St John the Evangelist of the Parish of Orangefield, Belfast Trustees. Annual Report (continued) Year ended 31 December 2023 Going Concern 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 between three and six months, expenditure. This is currently the case. The Select Vestry considers that the reserves of this level will ensure that, in the event of a significant drop in funding, they will be able to continue the P8rish's current activities whilst consideration is given to ways in which additional funds may be raised. The trustees. annual report was approved on 10 October 2024 and signed on behalf of the board of trustees by: Rev Ross Wilson Trustee Mr Nicholas McBride Trustee
Independent Examiner’s Report to the Trustees of St John the Evangelist of the Parish of Orangefield, Belfast
Year ended 31 December 2023
the Parish of Orangefield, Belfast (‘the charity’) for the year ended 31 December 2023.
Responsibilities and basis of report
in accordance with the requirements of the Charities Act (Northern Ireland) 2008 (the ‘2008 Act’). You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination.
section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act.
Independent examiner’s statement
connection with my examination giving me cause to believe that in an material respect:
-
Accounting records were not kept as required by with section 63 of the 2008 Act; or
-
Act; or
-
form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
proper understanding of the accounts to be reached.
Independent Examiner
S Hopper FCA Partner Hopper & Co
Date: 10 October 2024
8
Statement of Financial Activities
Year ended 31 December 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds |
||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and Legacies | 4 | 95,345 | 17,718 | 113,063 | 160,766 |
| Investment income | 5 | 519 | 638 | 1,157 | 795 |
| Other income | 6 | 23,196 | - | 23,196 | 21,912 |
| ---------- | ------ | ---------- | ---------- | ||
| Total income | 119,060 | 18,356 | 137,416 | 183,473 | |
| ======= | ==== | ====== | ====== | ||
| Expenditure | |||||
| Expenditure on charitable activities7,8 | 99,993 | 54,889 | 154,882 | 154,251 | |
| ---------- | --------- | ----------- | ---------- | ||
| Total expenditure | 99,993 | 54,889 | 154,882 | 154,251 | |
| ======= | ====== | ======= | ======= | ||
| ----------- | ---------- | ------------ | ---------- | ||
| Net income | 19,067 | (36,533) | (17,466) | 29,222 | |
| ======= | ======= | ======== | ======= | ||
| Transfers between funds | 3,486 | (3,486) | - | - | |
| ----------- | ---------- | ----------- | --------- | ||
| Other recognised gains and losses | |||||
| (Losses)/gains from revaluation of fxed | |||||
| Assets | - | 671 | 671 | (1,737) | |
| ----------- | ---------- | ----------- | --------- | ||
| Net movement in funds | 22,553 | (39,348) | (16,795) | 27,485 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 22,050 | 511,579 | 533,629 | 506,144 | |
| --------- | ---------- | ----------- | ---------- | ||
| Total funds carried forward | 44,603 | 472,231 | 516,834 | 533,629 | |
| ====== | ======= | ======= | ======= |
All income and expenditure derive from continuing activities.
9
St John the Evangelist of the Parish of Orangefield, Belfast Statement of Financial Position 31 December 2023 2023 2022 Note Fixed assets Tangible fixed assets Investments 14 15 546,263 23,016 547,197 22,345 569,279 569.542 Current assets Cash at bank and in hand 57,637 80,923 Creditors:amounts falling due within one year 16 1,560 2.328 Net Current assets 56,077 78,595 Total assets less current liabilities 625.356 648,137 Creditors: amounts falling due after more than one year 17 108,522 114,508 Net assets 516,834 533,629 Funds of the charity Restricted income funds: Revaluation reserve Other restricted income funds Unrestricted funds 17.509 454.722 44,603 16,838 494,741 22.050 Total charity funds 18 516.834 533,629 These financial statements were approved by the board of trustees and authorised for issue on 10 October 2024 and are signed on behalf of the board by: Rev Ross Wilson Trustee Mr Nicholas McBri Trustee 10
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
unincorporated. The address of the principal o,ice is The Church O,ice, 397 Castlereagh Road, Belfast, BT5 6AB.
2. Statement of compliance
Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Charities Act (Northern Ireland) 2008.
3. Accounting policies
Basis of preparation
revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
entity .
Going concern
There are no material uncertainties about the charity’s ability to continue.
Disclosure exemptions
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
Judgements and key sources of estimation uncertainty
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity’s purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
11
Notes to the Financial Statements (continued)
Year ended 31 December 2023
3. Accounting policies (continued)
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the Gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
• income from donated goods is measured at the fair value of the goods unless this is Impractical to measure reliably, in which case the value is derived from the cost to the Donor or the estimated resale value. Donated facilities and services are recognised in The accounts when received if the value can be reliably measured. No amounts are Included for the contribution of general volunteers.
• income from contracts for the supply of services is recognised with the delivery of the Contracted service. This is classified as unrestricted funds unless there is a contractual Requirement for it to be spent on a particular purpose and returned if unspent, in which Case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any Vat which cannot be fully recovered, and is classified under headings of the statement of
- expenditure on raising funds included the cost of all fundraising activities, events, non-Charitable trading activities, and the sale of donated goods.
• expenditure on charitable activities includes all costs incurred by a charity in undertaking Activities that further its charitable aims for the benefit of its beneficiaries, including those Support costs and costs relating to the governance of the charity apportioned to charitable Activities.
• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
12
Notes to the Financial Statements (continued)
Year ended 31 December 2023
3. Accounting policies (continued)
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Improvements to Church property are recognised at cost and are depreciated on a straight line Basis over 25 years.
Fixtures and Fittings are recognised at cost and are depreciated on a straight line basis over a period of 10 years. Whilst the Parish maintains a register of fixtures and fittings, these, being more than 10 years old, would be fully written down and are thus not included in the accounts.
The Parish has determined that the minimum threshold of cost for an item to be considered to be capitalised as a fixed asset is £1,000.
Depreciation
Depreciation is calculated so as to write o, the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Improvements to Church Property - 4% straight line
Improvements to property are depreciated over 25 years on a straight line basis.
Investments
Fixed asset investments are included at market value. They comprise 5,408 units of investment in RCB/CIT Unit Trusts. The original cost of the investments was £66,619. There have been no further acquisitions or disposals during the year under review.
13
Notes to the Financial Statements (continued)
Year ended 31 December 2023
3. Accounting policies (continued)
Heritage assets
The assets of the Parish, retained for its own use comprise:
. Church Building . Church Halls . Globe House (Rectory) . Fixtures and fittings . St Brigid’s Church Hall
The Church Building, Church Halls and Globe House, being all on the one site and not separable as individual assets, are deemed to be Heritage assets as defined by the Charities SORP (FRS102). These Heritage assets are 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.
Consideration is currently being given to treating St Brigid’s Church Hall as a heritage property, so that it has also not been included in the statement of Assets. Whilst the cost is not known, the replacement value as assessed for insurance purposes in 2018 amounted to £364,177. If this property were to be disposed of, the resulting funds would be restricted in use and permission would be required from the Representative Body of the Church of Ireland to use them for a given purpose.
A review for indicators of impairment is carried out at each reporting date. With the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
14
Notes to the Financial Statements (continued)
Year ended 31 December 2023
3. Accounting policies (continued)
Financial instruments
contractual provisions of the instrument.
and related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
15
Notes to the Financial Statements (continued)
Year ended 31 December 2023
| 4. ** Donations and legacies** | |||
|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 3,886 | 2,153 | 6,039 |
| Freewill O,erings | 68,869 | - | 68,869 |
| Maintenance envelopes | 4,799 | - | 4,799 |
| Plate collections | 3,569 | - | 3,569 |
| U18 Ministry | 1,000 | - | 1,000 |
| Tots Together | 755 | - | 755 |
| Family Festival | 627 | - | 627 |
| Christmas Fair | 3,905 | - | 3,905 |
| Garden of Remembrance | 715 | - | 715 |
| Church of Ireland Gazette | 275 | - | 275 |
| East Belfast Baby Bank | - | 15,565 | 15,565 |
| Bequeathment – Darling Estate | 6,945 | - | 6,945 |
| --------- | --------- | ---------- | |
| 95,345 | 17,718 | 113,063 | |
| ====== | ====== | ======= | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 6,421 | - | 6,421 |
| Freewill O,erings | 73,057 | - | 73,057 |
| Maintenance envelopes | 1,898 | - | 1,898 |
| Plate collections | 4,419 | - | 4,419 |
| Upgrading/Refurbishment of Church | - | 49,161 | 49,161 |
| Diocesan Ordination | 65 | - | 65 |
| U18 Ministry | 1,400 | - | 1,400 |
| Tots Together | 408 | - | 408 |
| Family Festival | 779 | - | 77 |
| 9 | |||
| Garden of Remembrance | 566 | - | 566 |
| Church of Ireland Gazette | 193 | - | 193 |
| Legacies | |||
| Legacy – Du,in Estate | 4,042 | - | 4,042 |
16
Notes to the Financial Statements (continued)
Year ended 31 December 2023
4. Donations and Legacies (continued)
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Grants | |||
| Covid – 19 Charities Fund | 16,847 | - | 16,847 |
| Diocesan Covid-19 Grant | 1,510 | - | 1,510 |
| ---------- | ---------- | --------- | |
| 111,605 | 49,161 | 160,766 | |
| ======= | ======= | ====== |
5. Investment income
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Bank interest receivable | 519 | - | 519 |
| Other investment income | - | 638 | 638 |
| ---- | ---- | ------ | |
| 519 | 638 | 1,157 | |
| === | === | ==== | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Bank interest receivable | 184 | - | 184 |
| Other investment income | - | 611 | 611 |
| ---- | ----- | ----- | |
| 184 | 611 | 795 | |
| === | ==== | === |
17
Notes to the Financial Statements (continued)
Year ended 31 December 2023
6. Other income
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Rental of Premises by third parties | 3,118 | 3,118 | 2,545 | 2,545 | |
| Other Receipts | 19,353 | 19,353 | 18,277 | 18,277 | |
| Parish Organisations contributions | |||||
| to upkeep | 725 | 725 | 1,090 | 1.090 | |
| -------- | -------- | -------- | -------- | ||
| 23,196 | 23,196 | 21,912 | 21,912 | ||
| ===== | ===== | ===== | ===== | ||
| **. ** | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Support costs | 99,993 | 54,889 | 154,882 | ||
| ======= | ====== | ======= | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Support costs | 130,525 | 23,726 | 154,251 | ||
| ======= | ====== | ====== | |||
| **. ** | Expenditure on charitable activities by activity type | ||||
| Total funds | Total fund | ||||
| Support costs | 2023 | 2022 | |||
| £ | £ | £ | |||
| Church Activities | 153,302 | 153,302 | 152,763 | ||
| Governance costs | 1,580 | 1,580 | 1,488 | ||
| ---------- | ---------- | ---------- | |||
| 154,882 | 154,882 | 154,251 | |||
| ======= | ======= | ======= |
7. Expenditure on charitable activities by fund type
8. Expenditure on charitable activities by activity type
18
Notes to the Financial Statements (continued)
Year ended 31 December 2023
9. Analysis of Support costs
| 9. Analysis of Support costs | |||
|---|---|---|---|
| Analysis of | |||
| support costs | Total 2023 | Total 2022 | |
| £ | £ | £ | |
| Wages & Salaries | 70,410 | 70,410 | 65,025 |
| Charitable Donations | 10,629 | 10,629 | 11,237 |
| Administration costs | 1,864 | 1,864 | 1,764 |
| Diocesan Costs/Assessment | 10,726 | 10,726 | 10,874 |
| Church Running costs | 24,098 | 24,098 | 27,554 |
| Glebe Running costs | 8,756 | 8,756 | 8,179 |
| Church Hall Running costs | 2,142 | 2,142 | 4,404 |
| Depreciation | 24,677 | 24,677 | 23,727 |
| --------- | --------- | --------- | |
| 153,302 | 153,302 | 152,763 | |
| ====== | ====== | ====== | |
| 10. Net income | |||
| Net income is stated after charging/(crediting): | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation of tangible fxed assets | 24,677 | 23,727 | |
| ====== | ====== | ||
| 11. Independent examination fees | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the fnancial statements | 1,580 | 1,488 |
12. Sta2 costs
The average head count of employees during the year was 3 (2022: 3).
19
Notes to the Financial Statements (continued)
Year ended 31 December 2023
13. Trustee remuneration and expenses
Reverend Ross Wilson, Rector of the Church, was paid a salary and expenses for his services as Rector. In 2023 these totalled £44,428. (2022 - £40,927). Employer’s pension costs paid amounted to £7,797 (2022 - £7,153).
During the year reimbursements for out of pocket expenses to Trustees amount to £1,359.
14.
| 4. Tangible fxed assets |
|
|---|---|
| Improvement | |
| to Church | |
| property | |
| £ | |
| Cost | |
| At 1 Jan 2023 | 593,159 |
| Additions | 23,743 |
| ---------- | |
| At 31 Dec 2023 | 616,902 |
| ======= | |
| Depreciation | |
| At 1 Jan 2023 | 45,962 |
| Charge for the year | 24,677 |
| --------- | |
| At 31 Dec 2023 | 70,639 |
| ====== | |
| Carrying amount | |
| At 31 Dec 2023 | 546,263 |
| ======== | |
| At 31 Dec 2022 | 547,197 |
| ======== |
20
Notes to the Financial Statements (continued)
Year ended 31 December 2023
| 15. Investments | ||
|---|---|---|
| Other | ||
| Investments | ||
| £ | ||
| Cost or valuation | ||
| At 1 Jan 2023 | 22,345 | |
| Additions | - | |
| Other movements | 671 | |
| -------- | ||
| At 31 Dec 2023 | 23,016 | |
| ===== | ||
| Impairment | ||
| At 1 Jan 2023 and 31 Dec 2023 | - | |
| ===== | ||
| Carrying amount | ||
| At 31 Dec 2023 | 23,016 | |
| ===== | ||
| At 31 Dec 2022 | 22,345 | |
| ===== | ||
| All investments shown above are held at valuation. | ||
| 16. Creditors: amounts falling due within on year | ||
| 2023 | 2022 | |
| £ | £ | |
| Accruals and deferred income | 1,560 | 2,328 |
| ===== | ==== | |
| 17. Creditors: amounts falling due after more than one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Bank Loans and overdrafts | 108,522 | 114,508 |
| ======= | ====== |
21
Notes to the Financial Statements (continued)
Year ended 31 December 2023
18. Analysis of charitable funds
Unrestricted funds
| At | Gains and | Gains and | At | |||
|---|---|---|---|---|---|---|
| 1 Jan 2023 | Income | Expenditure | Transfers | Losses31 Dec 2023 | ||
| £ | £ | £ | £ | £ | £ | |
| General Funds | 19,015 | 119,060 | (99,993) | 3,486 | - | 41,568 |
| Designated Fund | ||||||
| 1 – Parish | ||||||
| Organisations | 3,035 | - | - | - | - | 3,035 |
| -------- | ---------- | ----------- | ------ | -------- | --------- | |
| 22,050 | 119,060 | (99,993) | 3,486 | - | 44,603 | |
| ====== | ======= | ======= | ==== | ===== | ====== | |
| At | Gains and | At | ||||
| 1 Jan 2022 | Income | Expenditure | Transfers | Losses 31 Dec 2022 | ||
| £ | £ | £ | £ | £ | £ | |
| General Funds | 35,010 | 133,701 | (130,525) | (19,171) | - | 19,015 |
| Designated Fund | ||||||
| 1 – Parish | ||||||
| Organisations | 3,035 | - | - | - | - | 3,035 |
| -------- | ---------- | ----------- | --------- | -------- | --------- | |
| 38,045 | 133,701 | (130,525) | (19,171) | - | 22,050 | |
| ===== | ======= | ======== | ====== | ====== | ====== |
22
Notes to the Financial Statements (continued)
Year ended 31 December 2023
18. Analysis of charitable funds (continued)
Restricted funds
| At | Gains and | Gains and | At | |||
|---|---|---|---|---|---|---|
| 1 Jan 2023 | Income | Expenditure | Transfers | Losses | 31Dec 2023 | |
| £ | £ | £ | £ | £ | £ | |
| Maintenance | ||||||
| Fund | 52,908 | 638 | (24,677) | - | - | 28,869 |
| East Belfast | 15,565 | (19,584) | - | - | (4,019) | |
| Baby Bank | ||||||
| Fund | ||||||
| Missions Fund | 2,153 | (10,628) | - | - | (8,475) | |
| LF Black | ||||||
| Memorial Fund | 1,793 | - | - | - | - | 1,793 |
| LB Unit Trust | ||||||
| Fund | 5,505 | - | - | - | - | 5,505 |
| Revaluation | ||||||
| Reserve | 16.838 | - | - | - | 671 | 17,509 |
| Property Fund | 434,535 | - | - | (3,486) | - | 431,049 |
| ---------- | ------ | ---------- | ----- | ----- | ---------- | |
| 511,579 | 18,356 | (54,889) | (3,486) | 671 | 472,231 | |
| ======= | ==== | ======= | === | ==== | ======= |
| At | Gains and | At | ||||
|---|---|---|---|---|---|---|
| 1 Jan 2022 | Income | Expenditure | Transfers Losses 31 Dec 2022 | |||
| £ | £ | £ | £ | £ | £ | |
| Maintenance | ||||||
| Fund | 26,862 | 49,772 | (23,726) | - | - | 52,908 |
| LF Black | ||||||
| Memorial Fund | 1,793 | - | - | - | - | 1,793 |
| LB Unit Trust | ||||||
| Fund | 5,505 | - | - | - | - | 5,505 |
| Revaluation | ||||||
| Reserve | 18.575 | - | - | - | (1,737) | 16,838 |
| Property Fund | 415,364 | - | - | 19,171 | - | 434,535 |
| ---------- | --------- | ---------- | --------- | --------- | ---------- | |
| 468,099 | 49,772 | (23,726) | 19,171 | (1,737) | 511,579 | |
| ======= | ====== | ======= | ====== | ====== | ======= |
23
Notes to the Financial Statements (continued)
Year ended 31 December 2023
18 . Analysis of charitable funds (continued)
Purposes of Restricted Funds:-
Unit Trust Fund
These funds derive from investing the remainder of the sale of the Curtage of St John’s, Orangefield and of St John’s, Laganbank (predecessor to the present Parish). The funds represent the market value of the investments, but the original cost as at 31[st] December 2019 was £66,619. They are deemed restricted as they derive from property owned by the Representative Church Body of the Church of Ireland, whose permission must be sought and granted for any sale and further application of the funds.
Deposit account funds:
Deposit accounts held with the Representative Church Body amounted to £23,968 at 31[st] December 2023. These funds derive from the same source as the Unit Trusts above and are subject to the same restrictions.
LF Black Memorial Fund:
This is a fund to assist with the cost of child choristers in the Parish Choir.
Flower fund:
Purpose of Designated Funds:
Maintenance: The Trustees set aside funds each year for the maintenance of the Church property.
Charities Fund: The Trustees have set aside funds for donations to Christian charities supported by the Parish and the Church of Ireland.
Parish Organisations Funds: This represents the monies raised by the Parish Organisations for their own use within those organisations.
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Notes to the Financial Statements (continued)
Year ended 31 December 2023
19. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible Fixed assets | 546,263 | 546,263 | |
| Investments | 23,016 | 23,016 | |
| Current Assets | 46,163 | 11,474 | 57,637 |
| Creditors Less than 1 Year | (1,560) | - | (1,560) |
| Creditors greater than 1 Year | (108,522) | (108,522) | |
| --------- | ----------- | ------------ | |
| Net assets | 44,603 | 472,231 | 516,834 |
| ====== | ======= | ======== | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible Fixed assets | 547,198 | 547,198 | |
| Investments | 22,345 | 22,345 | |
| Current Assets | 24,378 | 56,544 | 80,922 |
| Creditors Less than 1 Year | (2,328) | - | (2,328) |
| Creditors greater than 1 Year | (114,508) | (114,508) | |
| --------- | ----------- | ----------- | |
| Net assets | 22,050 | 511,579 | 533,629 |
| ======= | ======= | ======= |
20. Related parties
During the year payments totalling £542 were made to Colourpoint Creative Ltd for printing work carried out on behalf of the Parish. Dr Wesley Johnston, a trustee of St John’s, Orangefield, is a director of this company.
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