Magheradroll Parish Church
Annual report and financial statements
For the year ended 31 December 2024
Charities Number: NIC 102537

Annual report and financial statements for the year ended 31 December 2024
Contents
Pages
References and administrative details
Trustees, Annual Report
Independent auditors, report to the Trustees
Statement of financial activities
10
Balance sheet
11
Statement of cash flows
12
Notes to the financial statements
13-21

Magheradroll Parish Church
References and administrative details
Charity Name:
Magheradroll Parish Church
Charity Registration Number: NIC 102537
Contact Address:
18 Church Street
Ballynahinch
Co Down
BT24 8LP
Trustees
David Clarke,
Lynn Jennings,
James Jess
Marian Hamilton,
Michael Kew
Kenneth Montgomery,
Robert Montgomery
Kenneth McLoughlin,
Rosemary Saund¢rs
William Slater (Hon. Secretary)
David Smyth (Hon. Tre&surer)
Rev Anna Williams
Roy Young.
Principal Office-bearers
Clergy: Reverend Anna Williams
Honorary Treasurer: David Smyth
Honorary Secretary: William Slater
Glebe Warden- Clergy . Ken McLouglin
Glebe Warden- People . Robert Montgomery
Church Warden - Clergy . David Smyth
Church Warden- People . Robert Montgomery

Independent Auditor or Examiner
Mr George Mcmaster
16 Blacks Road
Ballynahinch
BT24 8UT
Bankers
Danske Bank
Sainrfield

Trustees, Annual Report for the year ended 31 December 2024
The trustees present the annual report and accounts for Magheradroll Parish Church
for the year ended 31 December 2024.
Objective5 and Activitles
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.
Achievements, Performance & Public Benefit
The Great Commission of Jesus underpins the life and work of this Parish - 'Therefore
80 and make disciples of all nations, baptizing them in the name of the Father and of
the Son and of the Holy Spirit, and teaching them to obey everything I have
commanded you. And surely l am with you always, to the very end of the age."
(Matthew 28.19-20).
To this end, we gather as disciples on Sundays to worship, making space for those of
all ages and stages of life, varying our worship to include contemporary and traditional
aspects, and taking care to warmly welcome anyone and everyone. These services
include the celebration of baptisms, make much of the annual Christian festivals and
seasons, and will this year, include a relaunch of our Sunday School.
We build up disciples, members of our church family and the wider community
through pastoral care and support, seeking to demonstrate the love of Jesus to people
through all seasons of life, and especially in times of difficulty: illness, bereavement, or
when facing other challenges.
We teach what Jesus taught throughout the week, with midweek opportunities to
worship and to gather for Bible study and fellowship; and we continue to look for
ways to develop our capacity to disciple Christians.
We go into our community with the love and good news of Jesus, with good and
growing connections with the Churches Together, Edge Youth Club, the Foodbank, the
High School, and the Primary School in town. We welcome the community to us

through Women's and Men's community gatherings, a badminton club, a bowling
club, and a community choir.
We continue to invest time and money in growing our community engagement
through careful consideration about how we open our hall to others; how we make
space for people to find help, support, friendship, and community; and how we
provide opportunitie5 for people to come to and to grow in faith.
We go to all nations through links with mission agencies and other NGOS. This year,
we are developing a new link with the Diocese of Ezo in South Sudan through CMS
Ireland, and we continue to share generously from our resources to support those
working beyond our own Parish.
In these ways and more, we continue the work of Jesus, in the strength of Jesus, as we
grow in our knowledge and love of Him and seek to make Him known.
Financial 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.
Going 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 2024 can be signed off as a going
concern.
Strurture. Governance and Management
Governing Document and Constitution of the Charity
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 selett 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 received a stipend in accordance with figures approved by the General
Synod of the Church of Ireland.
Organisational 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 rnembers of the general vestry elected at the General Vestry.
The select vestry is generally 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 irnportance 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 generally on the second 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 2024 the Select Vestry met 10 times during the year with
the April meeting being the annual Easter Vestry gathering The average attendance
was 86.3Yo.
Statement of Trustees, Responsibilities
The trustees are responsible for preparing the Trustees, Report and the financial
statements in accordance with applicable law and regulations.
The law applicable to charities in the Northern Ireland requires the trustee5 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 wilF continue as a going concern.
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 statements comply with the Charities Art (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
Opinlon on the Financial Statements
In my opinion the Financial Statements:
give a true and fair view of the state of Magheradroll Parish Church financial
st
affairs as at the 31 December 2024 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 whlch l am requlred to report by exceptlon
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
suff icient 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
2710512025

Statement of Financial Activities for the Year Ended 31st December 2024
Unrestricted Restricted
Endowment
Funds
Funds
Funds
2024
2023
2024
Total
2024
Total
2023
Note
Income
Donations &
legacies
Other trading
artivities
Investments
Charitable
activities
Other income
83.964.92
3.748.CK)
87,712.92
91,281.63
5,468.35
5,468.35
7,316.72
4.243.63
4,243.63
35471.5
Total Income
93,676.90
3,748.
97,424.90
134,069.85
endlture on:
Generating
Charitsble
activities
Other
Total Ex
64,921.11
64,921.11
123,811.38
ndlture
64,921.11
64,921.11
123,811.38
Net Income/
(Expendfture)
before transfers
28,755.79
3,748.(Kl
32,503.79
10,258.47
Transfers
between lunds
Net Income/
{Expendlture)
before other
recognlsed 8alns
and1055es
28,755.79
3,748.(M)
32,503.79
10,258.47
Gain/(Lossl on
investments assets
Net movement In
funds
28,755.79
3,748.(K)
32,503.79
10.258.47
Retonclllation of
funds:
Total funds
brou8ht forward
190,235.51
10,729.59
195950.35
396,915.45
386,656.98
Total funds
carried forward
218,99130
14ATI.59
195.950.35
429.419.24
396.915A5
10

ststement of Financial Position l(Balance Sheet) as at 31st
December 2024
Note
2024
2023
Fixed Assets
Tangible Fixed Assets
Investment Properties
Investments
Total fixed assets
2,329,671
2,329,671
11
376,292
2,705,963
362,402
2,692,073
Current Assets
Debtors
Cash and cash equivalents
Totsl current assets
2,040
52,204
54.244
2,267
33,347
35,614
11
Creditors - amounts falling due within one year
Bank Loans
Total creditors
10
1,117
1100
Net Current Assets
53,127
34,514
Total net Assets
2 759 090
2,726 587
The fvnds of the parish
Unrestricted funds
General funds
Designated fvnds
Totsl unrestricted funds
Restricted Funds
Endowment Funds
Capital Funds
Total charity funds
223,604
190,235
223.604
9,865
195,950
2329671
2 759 090
190,235
10,730
195,950
2329671
2,726,586
Trhe notes on pages 12 to 28 are an integral part of these financial staternents.
The financial statements on pages 9 to 11 were approved by the Board of Trustees on
th
Tuesday 27 May 2025 and signed on its behalf by:
Rev Anna Williams Rector
Mr David Smyth Honorary Treasurer

Statement of Cash Flows for the year ended 31" December 2024
Totsl
funds
2024
Total
f unds
2023
Note
Cash flows from operating attivities:
Net cash pmvided by (used in) operating artivities
Cash flows from investing activities:
Dividends, interest and rents from investments
Proceeds from the sale of property, plant and
equipment
Purchase of property, plant and equipment
Proceeds from sale of investments
Purchase of investments
28,504
(21,051)
4,243
34,865
Net cash provided by (used in) investing artlvities
Cash flows from financing activities:
Repayments of borrowing
Cash inflows from new borrowing
Receipt of endowment
4,243
34,865
Net cash provided by (used in) financing artivities
Change in cosh and cosh equlvalents In the reporting
period
Cash and cash equivalents at the beginning of the
reporting period
Change in cash and cash equivalents due to
exchange rate movements
32,747
13,814
395,749
381,935
Cash and cash equivalents at the end of the
porting period
428,496
395,749
12

Notes to the financial statements for the year ended 31 December 2024
l. Accounting pollcies
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 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)), the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102).
The Parish meets the definition of a public benefit 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 frorn 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 goin8 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

be quantified with reasonable certainty. Donations and gifts in kind are brought into
the accounts at their fair value to the Parish.
d) Expenditure
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'.
f) 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) Flnancial 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 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 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 statements forthe year ended 31" December 2024
j.Critical 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 assurnptions 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 legacles
Unrestrlcted Restrirted End(wment
Funds
Funds
Funds
2024
2024
Total
2024
2023
Plate Collertion5
Weekly envelopes l FWO
Tax recovered on Donatb)ns
Donations
Endowment income
Special Appeals
Grants
¢)ther
70,WJ
70,932
66,840.80
3.748
13.612
1,950.(N)
13,612
50
I4,￿￿)
5.450
82.402
3,748
86,150
91.282
3. Otherirndlng artlvities
Electrlclty Income
Special Fund Raislng
Coffee Mornings
Summer Fete
Christmas Falr
Other
2.308.35
3787
1,562
3,870
3,870
3787
4. ITNestments
Depos￿ Interest
Dlvldends recelved
Rentsl Income- Investment Propertbes
Bank Interest
4.244
4243.63
35,472
4,244
4,244
35,472
5. Ch•tltable artfvities
Weddings and FunerdL8
Magazine Income
Grave Yard Income
Other Income
3.160
31E
3470
3.160
3.160
3,530
Analy515 of Expendlture
Unrestrlrted
Funds
2024
Restrlcted End(Y•ment
Funds
Fund5
2024
Total
2024
2023
Charftable Actl¥ltles
Wages and Salar￿s
Diocesan CostslAssessment
Hall & Graveyard Expenses
Glebe Costs
Charitsble Donatlons
Admini£tration Costs
19,929
11.839
19929
11839
1445
14475
8,050
9182
64,921
46,615
18,990
28.588
4,652
7,5
17.466
123.811
14,475
8,050
9.182
64921
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..
2024
Number
2023
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
Offlce
Equipment
Buildings
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 Properties
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 financlal statements for the year ended 31 December 2024
(continued)
9 Debtors
2024
2023
Sundry debtors
Other (detail where
material)
2,040
2,267
2,040
2,267
10.Creditors Amounts Due within l Year
2024
2023
Accruals and other
creditors
Taxation and Social
Security
Bank Overdrafts
1,117
1,100
1,100
900
20

Notes to the flnancial statements for the year ended 31st Decernber 2024
(continued)
11.Analysls of cash and cash equivalents
2024
2023
Cash in hand
Notice deposits
Overdraft facility repayable on demand
Total cash and cash equivalents
52,204
376,292
33,347
362,402
428,496
395,749
21