Trustees. Annual report and Statement of Receipts and Payments and Assets and Liabilities For the year ended 31st December 2023 Charities Number: NIC 102534 Parlsh of Christ Church Kllmore Annual report and flnancial statements for the year ended 31 De￿mber 2023 Contents Pages References and administrative details of the Church Trustees, report Independent Examiners Report to the Trustees Receipts and payments account statement of assets and Ilabilities Notes to the financial statements 9-11 Parish of Chrlst Church Kllmore References and admlnlstratlve details Charity Name- Parish of Chrlst Church Kllmore Charity Registration Number: NIC 102534 Contact Address.. Dean Adrian Dorian 22 Church Road Downpatrick BT30 9HR Trustees Rev. Stephen Smyth Rev. Adrian Dorian Mrs Margaret Whyte Mr David Mollan Mr Norman Stewart Mr Norman Gibson Mr Jim Burell Mrs Margaret Savage Mr Reginald Nesbitt Mr Mervyn Boyd Mr Geoffrey Norri5 (joined 23108120231 Mr Dermot Nesbitt ljoined 23108.20231 Retired 3110712023 Area Dean Church Warden Rector Church Warden- People Church Treasurer Glebe Warden-clergy Glebe Warden-People Church Secretary Prlnclpal Offlce.bearers Clergy: Church Secretary Church Treasurer.. Church Warden- Clergy: Church Warden- People.. Rev. Adrian Dorian Mrs Margaret Savage Mr Norman Stewart Mrs Margaret Whyte Mr David Mollan lfidependent Examlner Ivan Shannon & Co 39 Church Street Ballynahinch BT24 8AF Bankers Danske Bank 49-51 Market Street Downpatrick BT30 6LR Kilmore Parish Church Income and Expendlture Account 2023 Notes Unrestricted Designated Restricted Totsl 2023 Total 2022 Receipts Legacies Donations and Plate Collections Receipts from General Trustees Appeals Proceeds from Fundraising Events Grants Bank and Deposlt Interest Dividends Received Rental of Premises and Land Other Receipts Total Income and Endowments £112.20 £31.214.87 £1.583.84 £1,050.00 £322.53 £112.20 £39,072.47 £1,824.62 £1,050.00 £322.53 £114.75 £40.031.23 £2,829.92 £1,400.00 £2,376.10 £1,655.00 £53.56 £5,098.76 £1,692.00 £25,778.74 £81,030.06 £7,857.60 £168.44 £72.34 £80.82 £1.055.62 £3,384.00 £965.70 £39,688.76 £80.82 £5.109.31 £7,901.37 £27.970.94 £83,363.44 £4,053.69 £4,517.37 £25,505.24 £42,102.34 io £1,500.00 £1,572.34 ents Administration Salaries and Wages Diocesan Costs/Assessment Church Running Costs Glebe Land Costs Rectory Running Costs Charitable Donations Graveyard Costs Fundraising Costs Other Expenditure Total Payments Excess of Recelpts over Payments before Transfers Transfers Excess of Recelpts over Payments after Transfers li 12 13 14 15 16 17 £2,199.07 £20,523.23 £4,212.00 £6,610.98 £1,159.18 £1,171.99 £1,050.00 £2.199.07 £20,523.23 £4,212.00 £6,910.98 £1,159.18 £3,851.70 £9,093.50 £2,985.00 £1,528.64 £27,187.76 £4,200.00 £14,758.31 £750.44 £1,237.43 £6.538.50 £6,513.40 £1,125.00 £12,942.23 £75.656.71 £300.00 £2,679.71 £8,043.50 £2,985.00 18 19 £1,562.50 £38,488.93 £5,105.95 £21,499.16 £6,668.45 £59,988.09 £2,985.00 £1,199.83 1£1.412.661 £22,175.52 £23,375.35 £5.373.35 1£1,412.661 £3,412.66 1£2,000.001 £0.00 £0.00 1£212.831 £2,000.00 £21,588,18 £23,375.35 £5,373.35 Balance Brought Forward Balance carried Forward £32,198.36 £31,985.53 1£6,466.691 1£4,466.691 £75,262.58 £98,850.76 £100.994.35 £124,369.70 £95,621.00 £100,994.35 On Behalf of the Trustees Area Dean Rev. Adrian Dorian HonoraryTreasurer Mr. Norman Stewart Statement ot Assets and Llablllties as at 31st December 2023 Unrestricted Funds 2023 Designated Funds 2023 Restricted Funds 2023 Endowment Funds 2023 Total Funds 2023 Total Funds 2022 Cash Funds Current Accounts Total Cash Funds £31,985.53 £31.985.53 1£4,466.591 (£4,466.59) £98,850.76 £98,850.76 £124,369.70 £124,369.70 £100,994.35 £100,994.35 Investment Assets Funds held on Deposit by RCB Endowtnent Investments Total Investment Assets £41,934.72 £41,934.72 £9,268.30 £51,203.02 E40,715.65 £8,910.49 £49,623.14 £9.268.30 £9,268.30 £41.934.71 Assets retalned for the Parlsh's Own use Rectory Glebe Land Fixtures and Fittings Total Assets Retalned £300,00.00 £ioo,00.00 £27,009.02 £427,009.02 £300.00.00 £ioo,000.00 £27,009.02 £427,009.02 £300,00.00 £ioo,000.00 £27,009.02 £427,009.02 TOTAL £31,985.53 (£4,466.59) £565,794.48 £9,268.30 £602,581.74 £577,626.69 On Behalf of the Trustees Area Dean Rev. Adrian Dorian Honorary Treasurer Mr. Norman Stewart Note". Danske Bank Department of Communftles Nl Central Investment Fund for Charltles £60,369.70 £64 000.00 £124,369.70 Notes to the financlal statements for the year ended 31 December 2023 A¢countlng policles Set out below are the principal accounting policies which have been adopted in the compilation of the Receipts and Payments Account and the Stètement of Assets and Liabilities 11 Receipts and Payments Account All items of income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basis. 2) Statement of Assets and Liabilltles al Investments and Bequests il Proceeds of Sale 111 The proceeds of Sale of variou5 church assets are held on deposit by the Representative Church Body or invested in RCB unit Trust which generate income for the Church. The monies held may be released to the church for specific capital purposes with the approval of the Diocese and the RCB. Some of thi5 income has already been drawn down for Church and Graveyard projects. Sale ofGlebe Cottage £23,802.13IRCB Unit Trusts) Sale of Si8htlines at Glebe Cottage £5,085.19 IRCB Unit Trusts) Residue of Sale of Old Rectory £13,047.10 IRCB Unit Trusts) ill Bequests 111 Bequests made to the church are held as units invested with either the Representative Body General Unit Trust, the Church of Ireland Trustees or the Northern Ireland Central Investment Fund for Charities administered by the Department of Communities. Units are initially recorded at cost and are then subsequently stated at fair value at each year end date. The interest only is passed to the Church with Unit growth being reflected on the statement of Assets and Llabilities Bequests comprise=_ lal Donations and Bequests held by RCB which generate income for general or specific purposes for the Church Ibl Bequests held with the Charity Branch of the Department of Communities which generate income for general purpose5 of the church. Icl Bequests held by the Church of Ireland Trustees which 8enerate income for general or speclfic purposes for the Church. The fair value of each holding as at 31" December 2023 was:. RCB Investments É4,562.22 Department of Communities £1,566.22 Church of Ireland Trustees £3,139.46 bl Assets retalnedfvr the Porlsh's own use The assets of the Parish. retained for its own use compri5e:_ 111 Church Building and Graveyard 121 Parish Hall 131 Glebe House IRectoryl 141 Glebe Land 15) Fixtures and fittings {al The Church Building and Graveyard are deemed to be Heritage assets as defined by the Charities SORP IFR51021.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 user5 of the acmunts and to the parish. Ibl The Parish Hall was built in 2008. There are no reliable records of the cost of this construttionl acquisition and valuation approach for such a building lacks sufficient reliability. As a result this building is not recognised in the parish statement of assets and liabilities. Notes to the finandal statements for the year ended 31 December 2023 {continued) Ic} The Glebe House IRectoryl was built in 2002 and has been valued by an independent expert as at 31 December 2016. It is not intended to depreciate this asset. The Building was erected and is maintained jointly with Inch Parish Church but the full value is carried in the accounts of Christ Church Kilmore and no value is recorded in the Accounts of Inch Parish Church. Idl The Glebe Land comprises 22.6 acres and 15 let out to conacre and was valued by an independent expert as at 31" December 2016. lel There were no records available to value Fixture5 and Fittings and as their value was negli8ible the accounts have begun to recognise new fixtures and fittings with a value in excess of £2.000. As such the Church Organ which has been installed 15 valued at C05t of constructlon of £27,009.02. Reconciliation of Cash Funds Total Cash Funds at Beginning of the Year Receipts for the Year Payments forthe Year Total Cash Funds at end of Year £100,994.35 £101,934.28 £78,558.93 £124.369.70 Represented By Cash at Bank Deposited with Central Investment Fund for Charities £60,369.70 £64,000.00 Movement In Funds At I. Jan 2023 Incoming Resources Outgoing Resources Transfers At 31 Dec 2023 Endowment Funds Endowment Fund5 Unrestrlrted Funds General Fund £32,198.36 £32,198.36 £39.688. 76 £39,635.64 £38,488.93 £38,488.93 {£1,412.66) (£1,412.66J £31,985.53 £31,985.53 Deslgnated Funds Graveyard Fund Sound System £1,572.34 £2,985.00 £1,412.66 £2,000.00 £3,412.66 (£6,466.59J (£6,466.59) (£4,466.59) (£4 466.59) £1572.34 £2,985.00 Restrlrted Funds Renewal & Repair Fund Rettory Fund Art Club CAP Christmas Gifts Eliza Robinson Charity Ellza Robinson Endowment Earl Haig Fund Flower Fund Foodbank Rectors Leaving Gift Youth Fellowship Youth Initiative £15.947.37 £755.54 £4.517.37 £920.00 £3,865.50 £16, 702.91 £1,837.66 £2,679.71 £920.00 £3,865.50 £145.00 £3,000.00 £145.00 £9,570.36 £2,006.29 £3,189.01 £864.68 £113.00 £ioo.00 £25.392.24 £2,385.00 £9, 759.37 £870.97 (£2,000.00) £113.00 £ioo.00 £5.105.95 £2,385.00 £47,219.42 £67,505.71 £174.14 £200.00 £75,262.58 £174.14 £200.00 £18.514.16 £42,102.34 (£2.000.OOJ £98,850. 76 Totsl Funds £100,994.35 EIOI,934.28 £78 558.93 £124,369. 70 10 Notes to the financial statements for the year ended 31 March 2023 (continued) Pur ose5 of Endowment Funds None held by the Church, all by independent bodies Pur oses of Desi nated Funds Graveyard Fund This is a fund to asSlSt with the cost of maintaining the Graveyard and those with allocated graves make a contribution to the upkeep of the graveyard Sound System The Sound system was upgraded some years ago and the cost is being meet over a number of years by the Eliza Robinson Charity Fund Pur oses of Restrlcted Funds Renewal and Repair Fund The Trustees have set aside funds for the maintenance of Church Property and parishioners make specific contributions to the fund Rectory Fund The Rectory Is rented out on a short-term lease durin8 the interregnum and the income is being used to meet some of the work identified by the diocesan surveyor. Art Club The Inch Art Club made a donation to the Church to be forwarded to the Northern Ireland Air Ambulance CAP (Christians against Poverty) Kilmore Parish Church is a sponsor of the Mid Antrim CAP group. and donations are received to be forwarded specfflcally to thls 8roup. Christmas Gifts Parishioners and other make g1ft5 of toys or cash to be distributed at Christmas. Eliza Robinson Charlty This is an independent charfty established by order of court for the benefit of the Parish of Kllmore. The Rector Is named as Honorary Chalr, Eliza Robinson Endowment This is an independent charity established by order of court for the benefit of the Church of Ireland Parish of Kilmore. The Rertor is named as Honorary Chair. Earl Haig Fund Collections on Remembrance Sunday are passed directly to the Earl Haig Fund Flower Fund Parishioners make a donation to a flower fund which is used specifically to purchase flowers to decorate the Church. Kilmore and Inch Foodbank A foodbank operates from Kilmore Church Hall and donation5 and 8oods are received from across the area and food is distributed by volunteers. The Foodbank has its own independent committee. Rectors Leaving gift The Rector left the church to take up another appointment and parishioners and other made donations to purchase him a leaving gift. Youth Fellowship A grant was received from the Diocese to assist in development of youth within the Church. Youth Initiative A Grant was received to develop a youth group within the church. Notes to the financial statements for the year ended 31# Marth 2023 (continued) 4. Transactions with the Trustees Mr Norman Gibson received reimbursement of £214.80 for items purchased for the maintenance of the church. Mr Jim Burrell received £118.30 for light bulb* paint etc. Mr Norman Stewart received £70 as reimbursement for goods obtained for the church. The Rector, Rev. Stephen Smyth received £27.51 in respect of items purchased for the Church. The Parish is responsible for payment of 50% of the Rectors Stipend, administration and Locomotory expenses. The Parish opted to pay 50% of the Rectors Pension Contributions. No trustee or a person related to a trustee had any personal interest in any contract or transattion entered into by the charity during the year. 5. Governance Costs No Governance costs were incurred during the year as the independent examiner provided services free. 12