**DONAGHADEE PARISH CHURCH**
**Charity Number: NIC 102612**
**Statement of Receipts and Payments and Assets and Liabilities**
**Year Ending 31 December 2024**
The Trustees present the Statements of Receipts and Payments and Assets and Liabilities for Donaghadee Parish Church for the year ended 31 December 2024.
## _**Principal Officer – bearers**_
Clergy: Rev Ian 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 Newtownards BT23 7HS
## **Financial Review**
During the year ending 31 December 2024 income increased from £154,426 in 2023 to £178,453. This was a steady growth recovering from the Downturn seen the year before. The inflationary pressures seen in 2023 continued apace and church running costs were notably affected. Nevertheless, overall funds increased which is essential as future work on the fabric of the Church will be substantial. The Trustees continue to manage funds carefully with this future work clearly in mind.
## **Reserves**
Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned or unexpected expenditure. The Parish regularly monitors its financial reserves, receipts and payments, planned activity and financial commitment. It aims to build its free reserves and 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 statements for the year ended 31 December 2024 can be signed off as a going concern.
**Receipts and Payments Accounts for the year ended 31[st] December 2024**
|||**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Endowment**
**Funds**|**Totals**|**Totals**|
|---|---|---|---|---|---|---|
|||2024|2024|2024|2024|2023|
|||£|£|£|£|£|
|**Receipts**|||||||
|Donations and
plate collections||109,937|34,607||144,544|126,433|
|Fund Raising
Events|||17,242||17,242|11,998|
|Legacies||0|0||0|0|
|Bank & Deposit
Interest|||3,113||3,113|1,998|
|Rental of
Premises|Note
3||6,960||6,960|6,270|
|Insurance claim -
windows|||0||0|0|
|Other receipts|||5,415|529|5,945|5,977|
|Receipts from
Parish
Organisations|||650||650|1,750|
|**TOTAL RECEIPTS**||109,937|67,987|529|178,453|154,426|
||||||||
|||**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Endowment**
**Funds**|**Totals**|**Totals**|
|||2024|2024|2024|2024|2023|
|||£|£|£|£|£|
|Wages & Salaries|||82,368||82,368|80,750|
|Diocesan Cost/
Assessment|||10,937||10,937|13,897|
|Church Running
Costs|||24,124||24,124|7,405|
|Glebe Costs|||2,200||2,200|2,499|
|Parish Centre
Costs|||23,464||23,464|14,266|
|Administration|||10,989||10,989|9,407|
|Loan Repayments|||0||0|0|
|Charitable
Donations|||10,344||10,344|9,591|
|Bank Charges|||241||241|229|
|**TOTAL**
**PAYMENTS**|||164,666||164,666|138,045|
||||||||
|**Excess of Receipts**
**over Payments**||**109,937**|**-96,679**|**529**|**13,787**|**16,381**|
Notes forming part of the financial statements for the year ending 31 December 2024.
## **1. Accounting Policies**
Set out below are the principal accounting policies which have been adopted in the compilation of the Receipts and Payments Account and Statement of Assets 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 £ 0
▪ Rectory £135,000
▪ Church Hall £0
▪ Curatage £95,000
The Church Building and Graveyard are deemed to be Heritage Assets as defined by 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**
Total Cash Funds at Beginning of Year £214,163 Receipts for the Year £178,453 Payments for the Year £164,666 Total Cash Funds at end of the Year £227,950
## **3. Rental of Premises**
Income from letting of the Curatage (£6,960) was applied to the General Fabric Fund for the maintenance of Parish premises and property.