Bangor Abbey Parish (The Church of Ireland)
Annual Report & Financial Statements Year Ended 31st December 2023
Registered with The Charity Commission fror Northern Ireland NIC 102619
| Contents | Page 2 |
|---|---|
| Reference and Administrative information | Page 3 |
| Structure & Governance | Page 4 |
| Trustees Responsibilities | Page 5 |
| Objectives | Page 6 |
| Achievements | Page 7 & 8 |
| Financial Review | Page 9 & 10 |
| Statement of Disclosure | Page 11 |
| Independent Examiner’s Report to the Trustees | Page 12 |
| Balance Sheet | Page 13 |
| Statement of Financial Activities | Page 14 |
| Analysis of Income | Page 15 |
| Analysis of Expenditure | Page 16 |
| Notes to the Financial Statements | Page 17 – 23 |
2
Annual Report for the year ended 31st December 2023
Reference & Administrative information
Charity Name Charity Registration Number Contact Address
Bangor Abbey Parish Church NIC 102619 Bangor Abbey Parish 1, St. Malachy’s Way Abbey Street, Bangor, BT20 4JB
Trustees
Mrs. F. Barton Mr. D. Bradshaw Mr. S. Ferguson Mr. J. Henderson Mrs. S. Irwin Mr E. McGookin Canon R. Nesbitt Mrs. S. Switzer
Mr N. Barton Mr. N. Bradshaw Mrs. R. Heaney Mrs K. Henderson Mr. R. Kelly Mr. D. McQuitty Mr. G. Savage Ms. J. Walker
Principal Office Bearers
Clergy:
Rev. Canon R. Nesbitt (Incumbent)
Church Warden (Clergy) Church Warden (People) Hon. Secretary: Hon. Treasurer:
Ms. J. Walker Mr. N. Barton Mrs. K. Henderson Mr. R. Kelly
Independent Examiner
ABS Accountants (Bangor) Ltd. T/A D. L. Neill & Co. 1, May Avenue Bangor BT20 4JT
Bank details
Danske Bank Ltd. Bloomfield Shopping Centre Bangor BT19 7HB
3
Annual Report for the year ended 31st December 2023
Structure, Governance and Management
Governing Document and Constitution of the Charity
Chapter III of the Constitution of the Church of Ireland governs Parishes and Parochial Organisation. The Select Vestry members are the Charity Trustees.
Recruitment and Appointment of Select 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 current Incumbent of Bangor Abbey Parish, Rev. Canon R. Nesbitt, is a Trustee of the Parish by virtue of his Office. He is in receipt of stipends and of office and locomotory allowances in accordance with figures approved by the General Synod of the Church of Ireland. No other Trustee of the Parish of Bangor Abbey is in receipt of any payment for serving as a Trustee.
Organisational Structure
The Select Vestry is responsible for the day to day management of the Parish. The Select Vestry consists of the Incumbent member of Clergy serving in the parish, any Curate Assistant, the Churchwardens, the Glebewardens and generally not more than twelve other members of the General Vestry elected at the Annual General Vestry.
The Select Vestry is chaired by the Incumbent or other member of the clergy officiating in the Parish. 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.
The Select Vestry meets at times fixed by the members or by the Diocesan Synod. Special meetings may be convened at any time by the chairperson or the Churchwardens. In 2023 the Select Vestry met 10 times during the year and the average attendance was 81 %.
4
Annual Report for the year ended 31st December 2023
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustee’ report and the Financial Statements in accordance with applicable law and regulations.
The law applicable to charities in Northern Ireland requires the Trustees to prepare Financial Statements for each financial year.
Under that law the Trustees have prepared these 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)”.
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:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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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
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prepare the Financial Statements on the “going concern” basis unless it is inappropriate to presume that the Parish will 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 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.
5
Annual Report for the year ended 31st December 2023
The Trustees present the Annual Report and Financial Statements for Bangor Abbey Parish Church for the year ended 31[st] December 2023.
Objectives and Activities
The charitable purpose of Bangor Abbey Parish Church ( Church of Ireland) is the advancement of the Christian religion.
The principal function of Bangor Abbey Parish Church is to support the advancement of the Christian religion by promoting, through the work of Bangor Abbey Parish, 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, Bangor Abbey 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 Bangor Abbey Parish Church.
6
Annual Report for the year ended 31st December 2023
Achievements, Performance & Public Benefit
The Trustees of Bangor Abbey Parish (The Select Vestry) has the responsibility of co-operating with the incumbent, the Rev. Canon R. Nesbitt, in promoting in the Parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The Trustees are responsible for the maintenance of the Church of Bangor Abbey, Bangor Abbey Parish Centre and St. Columba’s Church, Kilcooley. The Trustees are committed to enabling as many people as possible to worship at both Bangor Abbey and St. Columba’s and to become part of our Parish community. Our services and worship put faith into practice through prayer and scripture, music and sacrament. The Trustees try to enable ordinary people to live out their faith as part of our Parish community through:
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Worship and prayer
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Learning about the Gospel
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Developing their knowledge and trust in Jesus
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Provision of pastoral care for people living in the parish
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Missionary and outreach work.
To facilitate this work it is important that we maintain the fabric of both Church buildings and the Parish Centre.
Worship and Prayer
Bangor Abbey Parish offers a range of services during the week and over the course of the year that our community find both beneficial and spiritually fulfilling. For example, regular Sunday services of Holy Communion, Morning & Evening prayer at the Abbey provide a quiet, intimate and reflective environment for worship. Similar services are also held most Sundays at St. Columba’s Church and at Clandeboye Chapel. Bangor Abbey endeavours to ensure that opportunities are also provided for people to engage in more outgoing forms of worship such as that provided by the monthly All Age Worship services. Special arrangements are made throughout the year for Baptisms, Weddings etc. All are welcome to attend our regular services. Unfortunately, due to the restrictions placed on everyone, because of Covid, we had to reduce our services. To compensate this we have embraced social media and produced services on Facebook and YouTube and will continue to do so. At present some 340 families take Weekly Offering Envelopes. The average weekly attendance, counted during November, was circa 160.The attendance does ebb and flow considerably throughout the year, increasing at Easter and Christmas services and would normally average at circa 200.
As well as our regular services, we enable our community to celebrate and thank God at the milestones of the journey through life. Through Baptism we thank God for the gift of life, in Marriage public vows are exchanged with God’s blessing and through Funeral services friends and family express their grief and give thanks for the life which is now complete in this world and to commend the person into God’s keeping. Ideally, the Trustees would like the Church building to be open to our community for private prayer at all times. Unfortunately, this is not always possible.
7
st December 2023
Annual Report for the year ended 31
Pastoral Care
During the week a mixture of Church organisations and various external groups use the Parish Centre.
The Mothers and Toddlers group meet on Tuesdays with around 20 – 25 children and their Mothers, or other carers, regularly attending. The Scout Group, the Guides (another Guide Company have also joined us this year) and the Sunday Group are all very well supported and give the young people of the Parish and beyond, a safe, welcoming place to meet and make friends within the Christian ethos. Also the Drama group put on an excellent Pantomime just after Christmas.
At the other end of the age range, the Men’s Association meet on Monday evenings for a series of informative talks, whilst Thursday mornings sees a group of volunteers meeting to maintain the Graveyard and surrounding Church grounds. These activities offer a great opportunity for friendship and company. The same is true of the Bowlers on a Monday evening and the Craft Group on alternate Tuesday afternoons. Bible Study Groups meet during the week to facilitate a greater understanding of the Bible and it’s teachings for anyone interested.
External groups like R.N.I.D. , Bright Sparks playgroup, Music Bugs, Market Fresh, Repair Cafe, U3A, Pilates and Dancercise are just a few of the groups that use the hall regularly.
Some members of the Parish are unable to attend Church due to sickness, infirmity or age. Canon Nesbitt strives to visit (socially distanced) such Church members when requested, and also to celebrate communion with them if they so desire. The Parish Office produces a Bi-monthly Parish Magazine, to help those unable to attend to at least keep in touch with Church life and Parish activities.
Ecumenical Relationships
The Parish of Bangor Abbey continues to enjoy a close working relationship with the other denominational Churches within the town. These long-established and cordial partnerships continue to help foster good community relationships and is reflected in a willingness to come together for joint services where appropriate.
Mission and Evangelism
Helping those in need is a demonstration of our faith. The details of Bangor Abbey Parish’s financial support for various Mission groups can be found elsewhere in this annual report, but the response to both regular and emergency appeals during the year continues to be very positive.
Public Benefit
The Trustees of the Parish of Bangor Abbey have given careful consideration to the Charity Commission for Northern Ireland’s guidance on public benefit to ensure that the activities entered into during the year have helped them to achieve the Parish’s objectives and activities as well as providing public benefit.
8
Annual Report for the year ended 31st December 2023
Financial Review
I start this my fourth review by once again offering my sincere thanks to each and every member of the Count Teams, especially the teams that helped in the past year. To Mrs. Rosie Heaney (Count Team Co-Ordinator), and to Mr Mark McIlreavey (Weekly Offering Recorder).
The end of 2023 sees Bangor Abbey Parish complete it’s Eigth year as a fully registered Charity with the Charities Commission for Northern Ireland. At the end of the first seven years, we have successfully completed the Annual Return process as required under the appropriate legislation. This legislation lays out strict guidelines for the way in which the Trustees of the Charity (in our case, the Select Vestry) must present their Annual Report.
Bangor Abbey continues to operate three separate Current Accounts as listed below, all of which are held with Danska Bank, Bloomfield Centre, Bangor.
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No. 1 or General Account (Unrestricted)
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No. 2 or Building Reserve Account (Restricted)
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No. 3 or St. Columba’s Account (Restricted)
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No. 4 or Parish Centre Account/St. Columba’s Account/Henrietta Moran Music Account (Restricted)
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No. 5 or Henrietta Moran Music Fund Account (Restricted)
Accounts No.’s 3,4 and 5 have been combined into one account at the bank to reduce costs, but are shown separately here and we will continue to do this in future years.
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No. 3 or St. Columba’s Account (Restricted) £ 735.25
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No. 4 or Parish Centre Account (Restricted) £3,955.14
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No. 5 or Henrietta Moran Music Fund Account (Restricted) £4,454.50
Funds in the No. 1 Account (Unrestricted) can be used to pay any expense as decided by the Select Vestry, and as such it covers the majority of all expenditure, from salaries and pensions, to repairs and maintenance, and all utility bills, office costs etc. The funds in the Restricted accounts can only be used for the specific purpose of that account, not to cover general expenses.
At each monthly meeting, Select Vestry members (Trustees) are provided with a monthly Income & Expenditure Report, which includes a Year-to-Date Income & Expenditure update. They also receive a Budget Report each month and periodic forecasts as to likely financial outcomes where appropriate. It should be stressed that no spending is undertaken lightly or without due consideration regarding affordability. However, as previously stated, many areas of expenditure (e.g. Salaries, National Insurance, Pension contributions) are imposed upon us and are beyond the Select Vestry’s direct control.
This financial summary is primarily concerned with the No. 1 General Account, which looks after the day-to-day running costs of the Parish, but will also make reference to the No. 2 Building Reserve Account. The other accounts require no specific comment due to the very limited activity within each, throughout the year
9
Annual Report for the year ended 31st December 2023
Financial Review
(Continued)
Total Income for the year in No. 1 Account was £158,636, an increase of £6,368 on the figure for the previous year, which was £152,268. These figures do not include Special Collections. Like all Churches and charities, the past year has been very difficult, and everyone has found it hard to generate funds. We are still not back to pre Covid figures.
The expenditure during the year totalled £168,128, an increase of £9,330 on the previous year’s total spend of £158,798. As we are all aware, the rise in prices is having an effect on us all. The church is no different and the Select vestry are looking at ways to reduce are expenditure. The largest increase was salaries and this was to be expected with Stephen Smyth joining us in August.
We were able to make our regular donations to our chosen charities. The special collections taken up throughout the year were donated to the charities. The list can be found on page 23.
Can I take this opportunity to thank the Select Vestry, for the work that they do throughout the year, monitoring the income and expenditures at the monthly Select Vestry meeting, to ensure that the parishioners get value for money
Total Income for the year in No.2 Account was £145,231.
This year saw us pay the final bills to the value of £3,949 for the Church Refurbishment.
We spent over £17,500 on the kitchen in the Parish Centre. We had to replace one of the boilers in the Parish Centre at a cost of £8,827. We also installed WIFI in the Parish Centre at a cost of £4,528.
In St. Columba’s we spent £1,806 on new Ladies toilets.
By the end of the year we had total currant assets of over £473,760, an increase of over £105,500 on last year.
The Select Vestry would like to thank every parishioner who helped us to achieve this position. But please do not stop there, as over the coming five years we anticipate major capital expenditure on the Tower and the Rectory.
It is hard too know what the next year has in store, but the rising price of Gas and Electricity and most other things, will bring new challenges which hopefully we as a congregation will be able to overcome.
Roy Kelly Honorary Treasurer
28[th] January 2024
10
Annual Re ort for the ear ended 31" December 2023 Statement as to disclosure to our Independent External Exan)iners In so far as the Trustees are aware at the timing of approving our Trnstees, aUal report: There is no relevant exarnination information of which the charity's Independent External Examiner is unaware: and The Trnstees have taken all steps that they ought to have taken to make themselves aware of any relevant examination infornjation and to establish that the Independent External Examiner is aware of that infomiation. Independent External Examiners The Independent Exan]iner for the Financial Staternents of Bangor Abbey Parish is: ABS Accountants (Bangor) Ltd TIA D. L. Neill & Co. I, May Avenue Bangor BT20 4JT ABS Accountants (Bangor) Ltd. Have indicated their willingness to continue in office, and a resolution concerning their reappointment will be proposed at the Annual Easter Vestry Meeting. On Behalf of the Trnstees Rev. Canon R. Nesbltt Mrs K. Henderson Chairnian of Trustees Hon. Secretary to Trustees Date: I" February 2024 Date: 1° February 2024 11
Independent Examiners, Report to the Trustees of Bangor Abbey Parish I confirm that thEs fim 15 a member of the In5titule of Chartered Accountsnts In Ireland and is therefore qualrfied to att as Examiner to charities with èn incorne in excess of £ 250,(KI). l also confirni that l am a person qualffied to carry Out such an examination. I report on the accDunts ofthecharity for the yearended 31December 2023 which are set QLSt on pages 13 to 23. Respectlve responsibltieS of trustees and examlner The Charity's trustees are resrKJnsible for the preparation of the accourrts in accordance with the Charities Act INorthern Ireland) 2Crf)8. Et is my responsibilty to- examine the accounts under section 65 of the Charitie5 Act: follow the procedure5 laid down in the generol Direttions Oven the Charity CommIs5n under sectiorl 6519llbl Charities Act.. state whether particular matters have cometo my attention: Basis of independent examinerfs report My examination wès carFÉedout in accordancewith the general Dirertions given bythe Lharity Commi55ion for Northern Ireland under sertion 6519llbl of the Charities ACL An examination includes a review of the accoufttl records kept by the charity and a comparlson of the accounts pseTrted with tknse records. also indudes consideration of ary unusual items or disdosures in the accounts, and seeking ewanations from you as trustees COnmIng any suth matters. My role is to state whether any material rn3tters have come to my attention givirg rne cause to believe.. i That accounting records were not kept in accordare with section 63 of the Charities Act 2 That the accounts do not accord with those reujrds 3 Thatthe accounts do not compty with the accvuftting requirements ofthe Charities Art 4 That there i5further irrfomation needed fora proper understanding olthe accountstobe reached. Independefftt Examiners St*emert I have completed my examination and have no concems in respect of the matters I to 4 listed aiKJve and, in tonnection with the Direciiors of the Charity Ccffimission for Northern Ireland. I have found no matter5 that require to be drawn to your attention. Ralph Ewing FCA ABS countants (Bap Trad gas DLNeill&' l May Avenue Bangor BT20 41r orl Ltd Datr. tr February 2024 12
BANGOR ABBEY PARISH – NIC 102619
Balance Sheet detailed
| As at As at 31/12/2023 31/12/2022 |
|||
|---|---|---|---|
| Fixed assets 4010: Land and buildings £610,000.00 £610,000.00 Total Fixed assets £610,000.00 £610,000.00 Current assets 5111: No 1 Account (General) £92,999.89 £102,062.93 5112: No 2 Account (Building Reserve) £371,616.75 £245,143.80 5114: No 4 Account (Parish Centre/St Columba’s/H.Moran Music) £9,144.89 £21,014.93 Total Currant assets £473,761.53 £368,221.66 Net Asset surplus (deficit) £1,083,761.53 £978,221.66 Reserves Excess / (deficit) to date £105,539.87 £119,681.77 Starting balances £978,221.66 £858,539.89 Total Reserves £1,083,761.53 £978,221.66 Represented by Funds Unrestricted £702,999.89 £712,062.93 Designated - - Restricted £380,761.64 £266,158.73 Endowment - - Total £1,083,761.53 £978,221.66 |
£610,000.00 £610,000.00 |
||
| £610,000.00 £610,000.00 £92,999.89 £102,062.93 £371,616.75 £245,143.80 £9,144.89 £21,014.93 |
|||
| £473,761.53 £368,221.66 |
|||
| £1,083,761.53 £978,221.66 |
|||
| £105,539.87 £119,681.77 £978,221.66 £858,539.89 |
|||
| Total £1,083,761.53 £978,221.66 |
Page 13
Bangor Abbey Parish - PIC 102619 For the rIOd 01 j3Thry 2023 kn 31 Decemr 2023 Tthal Priu year tsl fwyjs £107.011.47 £940 70 £117.417.91 E4.353 95 £29.880 17 £738.74 £197. £284.429.38 £5.294 85 £29.680.IT £1.020.12 £1.195.50 £2.c¢s 26 £6.821.71 £17.322.40 £703.35 £42.783 58 Irc frcffi ch3rn3bl& IrkvestTrWS £2BI 38 T(al £151388.37 £3?1.620. £Y20.616.30 Ratsry furts £8.J.20 £109.380.39 £fj.812 44 £30,972.92 £15.721.64 £2rii.359 31 £47.762. £153.171.93 T¢al exwxfjtwe £1n.295.59 £37.n5.36 £X6.UO.95 £2U>.93L53 114.60191 105,539.87 19.681.77 n5 11055es 114.60191 1115.539.87 £119.W.77 llecalI1at1( 12.06193 £266.158.n £978.th.66 £858.539.89 £MI.761.6¢ £1.IM3.761.53 £M.l.68 ihre5trFed £702.9P9 89 t702.wp 89 £712.CY2.93 RèstItj 8uibth"w Rèsuvè St C&Jrrts's P•rsh Cwr H l*Syan £371.618.75 £371.816.75 £245.143.80 e9.144.89 £9.144.89 £21.014.93 £1.083.781.53 £978.221.eo 14
Anatysis of inC(e and exlitu[e Sected [1. 01 January 2023 to 31 Decem1[ 2023 InCe and endcvlffients DDnalion5 arxl g0CleS 1010- Vkelty en¥ektrpes 1020- Other general donatons 1025- Stand9 Order5 1035-L005e p&te ¢t)n$ 1045- Gfft tsx ¥ed- TEg grfflg 1060- rn3n5 for 5pe(rfr purp05e5 1085- 8equests & Legac5 1070- cnan5 frDrn Pah organi53fis Donalions ar ¢15 Tol•ls £95.594.85 £95,5Q4.85 £8.050 20 £51.483.00 £4.420.8Q £24.849.00 £10.5ge.73 £81.759.20 £7.875.80 £91,310.81 £8.719_00 £50.044.00 £3.594.78 £24.818.52 £12.011.25 £53.85fj.00 £8.205.80 £8.050 20 £18.179.00 £1.86 £3.752.05 £35.304.00 £4.4tg.14 £2 1.098 95 £10.59O.73 £81.759.20 £7.875.80 £0.00 £0.00 £284.429.38 £252.559.96 Inckvne trom ¢haiitabl a¢ti¥i6ès 1110- Ma9azne income- 3dvertsfftg 1115- Parsh MagaZe & Pubkatt+n saks 1125- Fund Tri5ing eNnts 1135- fees (Afj £420.00 £420.00 £890.70 £395.30 £134.40 £890.70 £3.183.05 £750.00 £3.183.95 £1,000.00 £5.807.31 £1,130.IXI £250.00 Income frun charitate acffivrks Tolals £E140.70 £0.00 £4.353.95 £0.00 £5.294.85 £7.287.01 Otrer trac acvifje5 1210- Rent frDm lands of bu10S 1220- hal tt9$-thaatr objpd 1230-Cthuth hal tth9s-fvn¢J £13.287.47 £13.287.47 £0.00 £4.BQ8.40 £o_oo £10.392.70 £10,392_70 £12,424.00 Olher trathry acvies Tolals £0.00 £0.00 £29.880_17 £0.00 £29,080. 17 £17.322.40 Invesknèr 1310- tje5 1330- Bankand buadfftg $aty terest £3.23 £278.15 £3.23 £1.018.89 £3.58 £699.79 £738.74 lrniesknwts Tola15 £281.38 £0.00 £738.74 £0.00 £1,020.12 £703.35 1430- Other ncom £999.00 £197.50 £1.1g8.50 £42,783.58 £999.00 £0.00 £197.50 £0.00 £1.1QO.50 £42.783.58 In¢+xne enda¥Jr*nts Grand Totals £0.00 £0.00 £321.820.82 £320.818.30 15 Is
Sheet1
Analysis of income and expenditure
Selected period: 01 January 2023 to 31 December 2023
| Total | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Endowment | This year | Last year | |
| Expenditure | ||||||
| Raising funds | ||||||
| 2210 – Office Expenses (All) | £3,306.07 | - | - | - | £3,306.07 | £2,395.39 |
| 2230 – Equipment purchases & repairs | £0.00 | - | £1,806.00 | - | £1,806.00 | £6,894.48 |
| 2235 – Bank fees and charges | £372.09 | - | £156.09 | - | £528.18 | £552.60 |
| 2250 –Publication Expenses | £44.00 | - | - | - | £44.00 | £89.90 |
| 2280 – Special project costs | - | - | £3,948.75 | - | £3,948.75 | £31,426.88 |
| 2285 – Sundry expenses | £5,187.04 | - | £901.60 | - | £6,088.64 | £6,325.35 |
| Raising funds Totals | £8,909.20 | £0.00 | £6,812.44 | £0.00 | £15,721.64 | £47,684.60 |
| Expenditure on charitable activities | ||||||
| 2110 – Salaries & Allowances (All) | £67,978.91 | - | - | - | £67,978.91 | £54,922.34 |
| 2114 – National Insurance & Tax (All | £10,607.87 | - | - | - | £10,607.87 | £10,139.02 |
| Staff) | ||||||
| 2115 – Pension contributions (All Staff) | £13,404.04 | - | - | - | £13,404.04 | £10,644.65 |
| 2118 – Diocesan Assessment | £13,867.10 | - | - | - | £13,867.10 | £15,166.02 |
| 2124 – Church repairs and maintenance | £4,419.71 | - | - | - | £4,419.71 | £9,637.10 |
| 2126 – Heating & Light (Electricity & | £18,473.79 | - | - | - | £18,473.79 | £11,765.59 |
| Gas) | ||||||
| 2133 – Hall repairs and maintenance | - | - | £30,972.92 | - | £30,972.92 | £0.00 |
| 2137 – Hall cleaning | £3,400.00 | - | - | - | £3,400.00 | £3,574.60 |
| 2142 – Rectory repairs and maintenance | £0.00 | - | - | - | £0.00 | £1,157.00 |
| 2167 – Property & Water Rates (All) | £3,777.33 | - | - | - | £3,777.33 | £4,366.93 |
| 2173 – Graveyard maintenance contract | £2,045.00 | - | - | - | £2,045.00 | £2,425.00 |
| 2175 – Insurance | £6,330.61 | - | - | - | £6,330.61 | £5,978.38 |
| 2182 – Music purchases | - | - | - | - | £0.00 | £42.50 |
| 2187 – Charity Donations / Mission | £11,050.00 | - | - | - | £11,050.00 | £11,000.00 |
| activity | ||||||
| 2187 A – Rectors Discretionary Fund | £1,800.00 | - | - | - | £1,800.00 | £1,800.00 |
| allocations | ||||||
| 2188 – Presentation Expenses | £500.00 | - | - | - | £500.00 | £60.90 |
| 2190 – Travel Bursaries | - | - | - | - | £0.00 | £0.00 |
| 2191 – Special Collection Payments | £10,167.65 | - | - | - | £10,167.65 | £8,929.75 |
| 2210A – Postage Expenses | £30.14 | - | - | - | £30.14 | £15.21 |
| 2210B – Telephone & Broadband costs | £1,534.24 | - | - | - | £1,534.24 | £1,624.94 |
| Expenditure on charitable | £169,386.39 | £0.00 | £30,972.92 | £0.00 | £200,359.31 | £153,249.93 |
| activities Totals | ||||||
| Expenditure Grand totals | £178,295.59 | £0.00 | £37,785.36 | £0.00 | £216,080.95 | £200,934.53 |
16
Annual Report for the year ended 31st December 2023
Notes to the Financial Statements for year ended 31[st] December 2023
1: Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
1: 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 FRS102. Assets and liabilities are initially recognised at historical cost and transaction value unless otherwise stated in the relevant accounting policy note(s).
1: b) Preparation of accounts on a going concern basis
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.
1: c) Income
Plate Collections, Weekly Envelopes, Standing Orders and other income are accounted for on a cash receipts basis as the amount is collected.
Income arising from the rental of Parish Centre facilities to third parties is recognised when the parish has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognized 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.
17
Annual Report for the year ended 31st December 2023
1: d) Expenditure
Expenditure is recognized 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.
1: e) Tangible assets
The tangible assets of the Parish are comprised of Church Buildings and Graveyard, Parish Centre, Rectory and Curatage. The Church Buildings ( Bangor Abbey & St. Columba’s) and the graveyard are deemed to be Heritage assets as defined by the Charities SORP (FRS102). These Heritage assets are not included on the balance sheet 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 users of the accounts and to the parish.
The parish centre, although not physically attached to the church is deemed to be part and parcel Bangor Abbey Church and is situated within the church grounds. It is not separable as an individual asset. As such it is deemed to be a Heritage asset and no value is ascribed to it in the balance sheet 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 users of the accounts and to the parish.
The Rectory and Curatage are recognised at deemed cost, being the estimated fair value of the property at 1[st] April 2023 as determined by Land & Property Services. No depreciation has been provided on either property as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. 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’.
1: f) Investments
Fixed asset investments comprising investment properties, investment in equities and investment in RCB/CIT Unit Trusts are initially recorded at cost and are then subsequently stated at fair value at each balance sheet date. Investments in unquoted investments are recorded at cost and are assessed annually for impairment. Unrealised gains and losses represent the difference between the fair value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and fair value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the fair value at the start of the year or cost if purchased in the year. Both realised and unrealised gains and losses in investments are reported within “Net Gains / (Losses) on Investments” within the statement of Financial Activities.
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st December 2023
Annual Report for the year ended 31
1: 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 with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within Creditors Amounts falling due within 1 year.
1: h) Financial Instruments
The Parish 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.
1: 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, that 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 that 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.
2: Critical accounting judgements and estimation of uncertainty
Estimates and judgements 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 judgements 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.
3: 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 31[st] December 2023 can be signed off as a “going concern”.
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Annual Report for the year ended 31st December 2023
4: Reserves policy
It is the Trustees policy to maintain a balance on unrestricted funds (if possible), which equates to at least three months unrestricted payments, equivalent to £45,000, to cover emergency situations that may arise from time to time. The balance of over £92,000 held on unrestricted funds, after designations, at the yearend comfortably met this target. The balance of over £371,000 in the Building Reserve restricted fund is retained towards meeting the anticipated cost of upgrades and improvements to the Church and Rectory. It is currently our policy to invest our funds balances with Danske Bank.
| 5: Tangible assets: | |
|---|---|
| (4010) Fixed Assets: Land & Buildings | £610,000.00 |
| Capital Value (as per Land & Property Services Valuation 1stApril 2023) | |
| The Rectory, 5 Downshire Road, Bangor BT20 3TW | £440,000.00 |
| The Curatage, 9 Pinehill Crescent, Bangor BT19 6SF | £170,000.00 |
| 6: Donations and Legacies: | |
| (1060) Donations for Specific Purpose: | £10,596.73 |
| Shelterbox | £ 3170.00 |
| Bishop’s Appeal | £ 2716.00 |
| N.I. Chest, heart and Stroke (Christmas Eve Chorale) |
£ 1278.70 |
| Christian Aid | £ 997.65 |
| Mayor’s Charities | £ 46.00 |
| Storehouse | £ 920.00 |
| C.M.S. | £ 832.38 |
| Harvest Appeal Envelopes | £ 636.00 |
| 7: Donations and Legacies: | |
| (1070) Donations from Parish Organisations: | £7,675.80 |
| Bangor Abbey Craft Group | £4,525.80 |
| Bangor Abbey Drama Club | £2,500.00 |
| Bangor Abbey Bowling Club | £ 300.00 |
| Bangor Abbey Men’s Association | £ 100.00 |
| Bangor Abbey Lodge LOL726 | £ 250.00 |
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Annual Report for the year ended 31st December 2023
| 8: Incomes from Charitable Activities: | |
|---|---|
| (1125) Fundraising Events: | £3,183.95 |
| Car Boot Sale | £ 2,917.95 |
| Coin Jar | £ 254.00 |
| Walking Sticks | £ 12.00 |
| 9: Expenditure: Raising Funds: | |
| (2230) Equipment Purchases & Repairs: | £1,806.00 |
| St. Columba’s – New Ladies Toilets | £1,806.00 |
| 10: Expenditure: Raising Funds: | |
| (2285) Sundry Expenses: | £6,088.64 |
| Free Will Offering Envelopes | £ 638.23 |
| Parish Centre: Fire Extinguishers Service | £ 515.00 |
| Lay Readers course fee | £ 500.00 |
| Consumables | £ 493.57 |
| Parish Centre: Alarm System Maintenance | £ 474.00 |
| Catering Supplies (Car Boot Sale) | £ 416.41 |
| Copyright and Streaming Licence | £ 375.00 |
| Abbey: Fire Alarm Call out and service | £ 328.38 |
| Defibulator Servicing | £ 312.00 |
| Abbey: Fire Alarm Monitoring | £ 247.02 |
| Sunday School Expenses | £ 224.05 |
| Coronation Picnic Expenses | £ 222.00 |
| Parish Centre: Entertainment Licence & Advert | £ 220.20 |
| Abbey: Church Candles | £ 203.54 |
| New Robes | £ 184.90 |
| Communion Wine supplies | £ 171.88 |
| Parish Centre: T.V. Licence | £ 158.34 |
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Annual Report for the year ended 31st December 2023
10: Expenditure: Raising Funds:
(2285) Sundry Expenses: continued
| Royal Society Church Music (Annual Subscription) | £ 127.00 |
|---|---|
| Abbey & Parish Centre: Window Cleaning | £ 120.00 |
| Communion Cups | £ 104.02 |
| Parish Centre: Blinds | £ 53.00 |
11: Expenditure on Charitable activies:
| 11: Expenditure on Charitable activies: | |
|---|---|
| (2124) Repairs & Maintenance: | £9,637.10 |
| Pinehill: Refurbishment | £ 4,679.17 |
| Parish Centre: Light testing & Boiler repairs | £ 2,146.20 |
| Parish Centre & Abbey: Emergency Light testing & replacement | £ 948.00 |
| Abbey: Repairs | £ 824.62 |
| St. Columba’s Grass Cutting | £ 680.00 |
| Abbey: Painting | £ 324.11 |
| Ground Rent Fees (All Properties) | £ 35.00 |
22
Annual Report for the year ended 31st December 2023
12: Expenditure on Charitable activities:
(2187) Charity / Mission Donations: £11,050.00
| Shelterbox Trust | £2,000.00 |
|---|---|
| Barnabas Fund | £2,050.00 |
| C.M.S. Ireland | £3,000.00 |
| Church Army | £1,000.00 |
| Friends of Kiwoko Hospital (Uganda) | £1,000.00 |
| Leprosy Mission (N.I.) | £1,000.00 |
| Mission to Seafarers (N.I.) | £1,000.00 |
13: Expenditure on Charitable activities:
(2191) Special Collection payments: £10,167.65
| Shelterbox | £3540.00 |
|---|---|
| Bishop’s Appeal | £3000.00 |
| Mayor’s Charities | £1000.00 |
| Christian Aid | £977.65 |
| Storehouse | £1000.00 |
| CMS | £650.00 |
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