Magheradroll Parish Church
Annual report and financial statements
For the year ended 31 December 2022
Charities Number: NIC 102537

Annual report and financial statements for the year ended 31 December 2022
Contents
Pages
References and administrative details
Trustees, Annual Report
Independent auditors, report to the Trustees
Statement of financial artivities
10
Balance sheet
11
Statement of cash flows
12
Notes to the financial statements
13-21

Magheradroll Parish Church
Referen￿S and administrative details
Charity Name:
Magheradroll Parish Church
Charity Registration Number: NIC 102537
Contact Address:
18 Church Street
Ballynahinch
Co Down
8T24 8LP
Trustees
David Clarke,
Ralph Dickey,
Geoffrey Jennings,
Lynn Jennings,
James Jess
Harold Jess,
Marion Hamilton,
Michael Kcw
Kenneth Montgomery,
Robert Montgomery
Kenneth McLoughli
Canon Warren Russell,
Rosemary Saunders
William Slater (Hon. Secretary)
David Smyth (Hon. Treasurer)
Roy Young.
Principal Office-bearers
Clergy: Canon Warr¢n Russell
Honorary Trcasurer: David Smyth
Honorary Sccretary: William Slater
Glebe Warden- Clergy . Roy Young
Glebe Warden- People . Robert Montgomery
Independent Auditor or Examiner

Mr George Mcmaster
16 Blacks Road
Ballynahinch
BT24 8UT
Bankers
Danske Bank
Saintfield

Trustees. Annual Report for the year ended 31 December 2022
The trustees present the annual report and accounts for Magheradroll Parish Church
for the year ended 31 December 2022.
Objectives and Artivities
The charitable purpose of the Church of Ireland is the advancement of religion.
The principal function of Magheradroll parish Church is to support the advancement
of the Christian religion by promoting, through the work of the Magheradroll Parish
Church the whole mission of the Church, pastoral, evangelistic, social and ecumenical.
Being open to and engaging with society as a whole and offering 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,
Magheradroll Parish Church 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 Magheradroll Parish Church.
Achlevements, Performance & Publlc Beneflt
Worship takes place on Sunday mornings every week providing a mix of traditional
services and informal Family Services contributing to the spiritual well-being of
participants and the reinforcement of Christian values. Pastoral Care is provided to ill
parishioners in hospital and nursing homes, baptism of infants, marriage services, and
burials of members in the adjoining churchyard in accordance with rules and
guidelines issued by the dioscesan office.
Sunday school is provided on Sunday
mornings in the church Hall catering for children from Kindergarten age up to young
teens.
The Parish supports financially the work of the cross-community Edge Youth Club in
the Town Centre. We receive weekly donations of food item from parishioners for the
town food bank. Parish Bowling clubs (Indoor and Outdoor) and badminton clubs are
welcoming to all sections of the community. Members of the parish serve on the
Board of Governors of Local schools as our Transferor Representatives.
A child protection policy is in place in accordance with the C of I Safeguarding Trust
requirements and in recent years safety in the Hall has been improved by the
provision of fireproof doors and new fire exit signage.
Looking beyond our own community we raise funds for Christian Aid and have a link
through Church Mission Society (CMS Ireland) with the Diocese of Madi West Nile.

Uganda. The parish also makes annually in December an allocation of approx 5% of
our Income to a range of missions and charities.
In all these various ways we believe we are fulfilling our charitable purpose and
seeking to benefit the wider community in Ballynahinch.
Flnancial Review
Magheradroll Parish Church's policy on reserves is to keep money aside as a
reserve to protect it against drops in income and allow it to take advantage of
new opportunities. The reserves can be spent on any of Magheradroll Parish
Church's aims.
Golng Concern
The trustees have reviewed the budgets for the year ahead and are satisfied that
there are adequate funds in place to ensure that the Parish can continue its activities
and the financial statements for the year end 2023 can be signed off as a going
concern.
Structure, Governance and Management
Governing Document and Constftutlon of the Charlty
Chapter111 of the Constitution of the Church of Ireland governs Parishes and Parochial
Organisation. The Select Vestry members are the Charity Trustees
Recrultment and Appointment of Selert Vestry
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 Rector receives a stipend in accordance with figures approved by the General
Synod of the Church of Ireland.
Oryanisational Strurture
The select vestry is responsible for the day to day management of the parish. The
select vestry consists of the Rector, the glebe wardens and generally not more than
twelve other members of the general vestry elected at the General Vestry.
The select vestry is chaired by the Rector and assisted by the Honorary Secretary and
the Honorary Treasurer. Select vestry members are responsible for making decisions
on matters of general concern and importance to the parish including deciding how
parish funds are to be applied. Standing items on the agenda for each meeting include
Finance and matters relating to property.
The select vestry meets on the first Tuesday of every month. No meetings take place
in July and August with special meetings may be convened at any time by the
Honorary Secretary. In 2022 the Select Vestry met 9 times during the year with the
April meeting being the annual Easter Vestry gathering . The average attendance was
71.5%
Statement of Trustees, Responsibilities
The trustees are responsible for preparing the Trustees, Report and the flnancial
statements in accordance with applicable law and regulations.
The law applicable to charities in the Northern Ireland requires the trustees to prepare
financial statements for each financial year. Under that law the trustees have
prepared the financial statements in accordance with Generally Accepted Accounting
Practice in the United Kingdom {accounting standards issued by the Financial
Reporting Council in the UK , including Charities SORP (FRS 102) ' Accounting and
Reporting by Charities: 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) "and promulgated by the
Institute of Chartered Accountants in the United Kingdom and United Kingdom Law)
Under that law the trustees must not approve the financial statements unless they

are satisfied that they give a true and fair view of the state of the affairs of the charity
and of the statement of financial activities of the charity for that period.
In preparing these financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently;
make judgments and estimates that are reasonable and prudent
state whether the financial statements have been prepared in accordance with
applicable Accounting Standards and identify the standards in question , subject to
any material departures being disclosed and explained in the financial statements;
and
prepare the financial statements on the going concern basis unless it is
inappropriate to presume that the Parish will continue as a going concem.
The trustees are responsible for keeping accounting records that are sufficient to
show and explain the Parish's transactions and disclose with reasonable accuracy at
any time the financial position of the Parish and enable them to ensure that the
financial staternents comply with the Charities Act {Northern Ireland) 2008, the
Charity (Accounts and Reports) Regulations (Northern Ireland) 2008 and the provision
of the Constitution of the Church of Ireland. They are also responsible for safeguarding
the assets of the Parish and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.

Independent Auditorfs / Examiners Report to the Trustees of Magheradroll Parish
Church
Opinion on the Financial Statements
In my opinion the Financial Statements=
give a true and fair view of the state of Magheradroll Parish Church financial
5t
affairs as at the 31 December 2022 and of the Parish's incoming resources and
application of resources for the year then ended;
have been properly prepared in accordance with the Charities Act (Northern
Ireland) 2008, the Charity {Accounts and Reports) Regulations (Northern
Ireland) 2008 and the provision of the Constitution of the Church of Ireland.
Matters on which l am required to report by exception
I have nothing to report in respect of the following matters where the Trustee's
requires us to report to you if, in my opinion
the information given in the Annual Report is inconsistent in any material
respect with the financial statements: or
sufficient accounting records have not been kept: or
the financial statements are not in agreement with the accounting records and
returns: or
I have not received all the information and explanations I require for the review.
George Mcmaster
16 Blacks Lane
Ballynahinch
BT24 8UT
rd
3 October 2023

Statement of Financial Activities for the Year Ended 31st December 2022
Unrestrirted Restrlrted Endowment
Funds
Funds
Funds
2022
202Z
Total
2022
Total
2021
Income
Donations &
legacies
Other trading
actiwties
Investments
Charitable
activities
Other income
105,617.26
4,013.IXI
11)3.630.26
85,734.51
6.928.30
6,928.30
7,032.04
6.299.84
6,299.84
22136.39
1,510.(K)
1.510.(KI
Total Ineorne
120,355.40
4,013.(X)
124,368.40
119,902.94
endlture on:
Generating
Charftable
artivities
Other
Total Ex
88,917.20
11513.
I(K),430.20
90,069.47
ndlture
88.917.20
11,513.(X)
ICX),430.20
90,069.47
Net Incomel
(Expendlture)
before transfers
31,438.20
.7,5(h).cM)
23,938.20
29,833.47
Transfers
between funds
Net Income/
(Expendlture)
before other
recognlsed galns
and losses
31,438.20
.7,51X).(KI
23,938.20
29,833.47
Gain/lLoss) on
investments assets
Net movement In
funds
31.438.20
.7,5(M).
23,938.20
29,833.47
Reconclllatlon of
funds:
Total funds
brought forward
152.124A4
14,643.59
195950.35
362,718.78
332,885.31
Total furHIs
carrled forward
183.$63X
7.14359
195.95035 386.656.98
361718.78
10

Statement of Flnancial Position l(Balance Sheet) as at
31st Decambar 2022
Note
2022
2021
Fixed Assets
Tangible Fixed Assets
Investment Properties
Investments
Total fixed assets
2,329,671
2,329,671
289,161
2.618.832
340,931
2.670.602
Current Assets
Debtors
Cash and cash equivalents
Totsl current assets
5,622
92,774
98.396
4,669
22,045
26,714
Credltors - amounts falling due wlthin one
year
Bank Loans
Total creditors
900
4926
Net Current Assets
97,496
21.788
Total net Assets
2 716 328
2 692 390
The funds of the parish
Unrestricted funds
General funds
Designated funds
Total unrestricted fvnds
Restricted Funds
Endowment Funds
Capital Funds
Total charfty funds
183,563
152,125
183,563
7.144
195,950
2329671
2 716 328
152,125
14,644
195,950
2329671
2.692 390
The notes on pages 12 to 28 are an integral part of these financial statements.
The financial statements on pages 9 to 11 were approved by the Board of Trustees on
Tuesday 17 April 2023 and signed on its behalf by:
Canon Russell
Rector
Mr David Smyth Honorary Treasurer
11

Statement of Cash Flows for the year ended 31" December 2022
Total
funds
2022
Total
funds
2021
Cash flows from operating actlvities:
Net cash pmvided by (used Inj opernting artfvltles
Cash flows from investing activities:
Dividends, interest and rents from investments
Proceeds from the sale of property, plant and
equiprnent
Purchase of property, plant and equipment
Proceeds from sale of investments
Purchase of investments
12,659
7,039
6,300
22,136
Net cash pmvlded by (used in) investlng artivities
Cash flows from financing activities:
Repayments of borrowing
Cash inflows from new borrowing
Receipt of endowment
6,300
22,136
Net cash provided by (used injfinancing artivities
Change in cash and cash equivalents In the reporting
perfod
Cash and cash equivalents at the beginning of the
reporting period
Change in cash and cash equlvalents due to
exchange rate movements
18,959
29,175
362,976
333,801
Cash and cash equivalents ot the end of the
reporting perlod
381,935
362,976
12

Notes to the financlal ststements for the year ended 31° December 2022
l. Accountlng policies
The principal accounting policies adopted, judgements and key sources of estimation
uncertainty in the preparation of the financial statements are as follows:
a) Basis of preparation
The financial statements have been prepared on a going concern basis in accordance
with Accounting and Reporting by Charities: Statement of Recommended Prattice
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)), the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102).
The Parish meets the definition of a public benefft entity under FRS 102. Assets and
liabilities are initially recognised at historical cost and transaction value unless
otherwise stated in the relevant accounting policy note.
b) Preparatlon of accounts on a going concern basls
The Parish generally meets its day to day working capital 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 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 basis
c} Income
Plate Collections, Weekly Envelopes and Graveyard income are accounted for on a
cash receipts basis as the amount is collected.
Income from government and other grants, whether 'capital' grants or 'revenue'
grants, is recognised when the charity has entitlement to the funds, any performance
conditions attached to the grants have been met, it is probable that the income will be
received and the amount can be measured reliably and is not deferred.
Legacies are included within Income under either unrestricted or restricted funds
according to the terms under which the donation is made and when the amount can
13

be quantified with reasonable certainty. Donations and gifts in kind are brought into
the accounts at their fair value to the Parish.
d) Expendlture
Expenditure is recognised 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 obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure
was incurred.
e) Tangible assets
The assets of the Parish comprise:_
Church Building and Graveyard
Church Hall
Rectory
Bowling Green and Pavilion
Tangible assets are derecognised on disposal or when no future economic benefits are
expected. On disposal, the difference between the new disposal proceeds and the
carrying amount is recognised in the statement of financial activities and included in
'Other operating (losses)/gains'.
fj Investments
Magheradroll Parish Church does not have any Investments.
g) Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks,
other short-term highly liquid investments.
h) Financial Instruments
Magheradroll Parish Church only has financial assets and financial liabilities of a kind
that qualify as basic financial instruments. Basic financial instruments are initially
recognised at transaction price and subsequently measured at their settlement value.
14

i) Funds
Funds are classified as either restricted funds or unrestrirted 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.
Unrestrirted funds are expendable at the discretion of the trustees in furtherance of
the objects of the charity. If parts of the unrestricted funds are earrnarked at the
discretion of the trustees for a 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.
15

Notes to the financial ststements for the year ended 31" December 2022
j.Crltical accounting Judgements and estimation 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.
16

2. Donatlons and legades
Fynds
Funds
Funds
Total
2021
ate Collectlons
Weekly envelopes l FWO
Tax recovered on Donatlons
Legacie5
Endowment Income
Special Appeals
Grants
Other
71.745.(K)
4,013
75,758
69.524
13.217
13.217
20655
12.033
2.924
io
io
107,127
4.013
111,140
89,481
3. (Xher tradlni actI￿leS
Electrlclty Income
Speclal Fund Raising
Coffee Mornings
Summer Fete
Chrlstmas Falr
Other
1695
L695
1.695
1,695
4. Investments
Deposbt Interest
Dlvldend5 recelved
Rentsl Income- Investment Propertles
ank Interest
6,3(M)
63(h)
22,136
6.300
22,136
5. Ch*Tltable adl¥ltles
Weddings and Funerals
Magazine Income
Grave Yard Income
Other Income
350
55
4630
1847
3.470
1.763
3470
1763
5.233
5.233
An4ly515 01 Expendlture
iknrestricted Reslrlrted Endovrnt
Funds
Funds
Funds
2022
Total
2022
20
Charltable Actl¥llle5
Wages and Salaries
Diocesan Costs/A55e55ment
Hall Running Costs
Glebe Costs
Charitable Donations
Admlnistration Costs
50.318
50318
51,692
24,204
6.241
423
14603
5431
5,431
2.2SO
8,788
88917
8788
100.430
4,709
17

7.Taxation
Magheradroll Parish Church is recognised as a charity for the purposes of applicable
taxation legislation and is therefore not subject to taxation on its charitable activities.
The average number of employees during the year, calculated on the basis of a
head count. was as follows=
2022
Number
2021
Number
Ministerial support
Administration
Music staff
Premises maintenance
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. No trustee other than
the Rector received any remuneration or reimbursement of expenses during the
year.
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.
18

8.Tangible fixed assets
Office
Buildlngs Equipment
Total
Cost
At beginning of the year
Additions
Disposals
At end of the year
2,329,671
2,329,671
2,329,671
2,329,671
Depreciation
At beginning of the year
Depreciation
Disposals
At end of the year
Net book value at beginning of the year
Net book value at end of the year
2,329,671
2,329,671
l. Investment Propertles
Balance at Beginning of the year
Additions during the year
Disposals during the year
Fair Value Gains / (Losses)
Balance at end of the year
NIL
19

Notes to the financial statements for the year ended 31 December 2022
(continued)
9 Debtors
2022
2021
Sundry debtors
Other (detail where
material)
5622
4,669
5,622
4,669
10.CredltorsAmounts Due within l Year
2022
2021
Accruals and other
creditors
Taxation and Social
Security
Bank Overdrafts
900
4,926
900
4,926
20

Notes to the financial statements for the year ended 31st December 2022
(continued)
11.Analysis of cash and cash equivalents
2022
2021
Cash in hand
Notice deposits
Overdraft facility repayable on demand
Total cash and cash equlvalents
92,774
289,161
22,045
340,931
381,935
362,976
21