DONAGHADEE PARISH CHURCH Charity Number: NIC 102612 Statement of Receipts and Payments and Assets and Liabilities Year Ending 31 December 2023 The Trustees present the Statements of Receipts and Payments and Assets and Liabilities for Donaghadee Parish Church for the year ended 31 December 2023. Principal Officer- bearers Clergi: Rev lan R. Gamble Church Treasurer: Mrs Heather Heaney Church Warden- Clergy Mrs Lorna Thrush Church Warden- People Mrs Amanda Humphreys Bankers Danske Bank 35 High Street Nevrtownards BT23 7HS Financial Review During the year to 31 December 2023 income totalled £154,426 an apparent significant decline on the 2022 income of £187,033. The year 2022 had seen a major income recovery from the 'covid' period. This past year reflected a more settled state. However, income is in a sense under-recorded a5 a substantial gift aid repayment from HMRC missed the deadline for the year end. Wages and salaries and running costs all increased substantially in line with inflationary pressures in 2023. The Trustees will continue to manage funds carefully but are committed to works on the Church fabric which are essential. Reserves Policy Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned expenditure. The Parish regularly monitors its financial reserves, receipts and payments, planned activity and financial commitment. It aims to build its free reserves Unrestricted general funds. The appropriateness of the level of reserves will be monitored regularly and subject to review each year. 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 statement5 for the year ended 31 December 2023 can be signed off as a going concern. Receipts and Payments Accounts for the year ended 31" December 2023 Unrestricted Restricted Endowment Totals Funds Funds Funds 2023 2023 2023 Totals 2023 2022 Receipts Donations and plate collections Fund Raising Events Legacies Bank & Deposit Interest Rental of Prem- ises nsurance claim- windows Other receipts Receipts from Par- ish Organisations TOTAL RECEIPTS 98,644 27,789 126,433 159,754 11,998 11,998 12,153 1,998 1,998 163 Note 6,270 6,270 6,045 479 5,448 1,750 488 5,977 1,750 8,393 525 98,644 55,294 488 154,426 187,033 Unrestricted Funds Restricted Funds 2023 Endowment Funds Totals Totals 2023 2023 2023 2022 Wages & Salaries 80,750 80,750 70,116 Diocesan Cost/ Assessment Church Running Costs Glebe Costs Parish Centre Costs Administration Loan Repayments Charitable Dona- tions Bank Charges TOTAL PAY- MENTS 13,897 13,897 13,201 7,405 7,405 6,055 2,499 14,266 2,499 14,266 2,293 19,114 9,407 9,407 7.662 9,591 9,591 10,942 229 138,045 229 138,045 225 129,608 Excess of Receipts over Payments 98,644 -82,751 488 16,381 57,425 Note5 forming part of the financial statements for the year ending 31 December 2023. l. Accounting Policies Set out below are the principal accounting policies which have been adopted in the compilation of the Receipt5 and Payments Account and Statement of Asset5 and Liabilities. (a) Receipts and Payments Account All items of income and expenditure included in the Receipts and Payments account have been accounted for on a cash receipts basis. (b) Statement of Assets and Liabilities The assets of the Parish, retained for its own use comprise: Church Building and Graveyard Rectory Church Hall Curatage £135,000 £0 £95,000 The Church Building and Graveyard are deemed to be Heritage Assets as defined bv the Charities Statement of Recommended Practice (SORP) (FRS102}. These Heritage Assets are not included in the Statement of Assets and Liabilities and information on the costs 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 Church Hall was built in 1990. There are insufficient records of the costs of construction and valuation approach for such a building lacks reliability. As a result, the building is not recognised in the Parish Statement of Assets and Liabilities. The Rectory and Curatage are recognised at their deemed cost being the valuation placed on them for local tax purposes. 2. Reconciliation of Cash Funds Tota5 Cash Funds at Beginning of Year Receipts for the Year Payments for the Year Total Cash Funds at end of the Year £197,783 £154,426 £138,045 £214,163 3. Rental of Premises Income from letting of the Curatage1£6,270} was applied to the General Fabric Fund for the maintenance of Parish premises and property.