## Receipts and payments account for the year ended 31.12.2024 

||Unrestricted<br>funds<br>Restricted<br>funds<br>Endowment<br>funds<br>Total 2024<br>Total 2023|
|---|---|
||Receipts<br>Donations<br>26,651<br>12,869<br>-<br>39,520<br>39,241<br>Fundraising income<br>200<br>2,726<br>-<br>2,926<br>5,494<br>Rents & hiring fees<br>12,641<br>-<br>-<br>12,641<br>7,040<br>Investment income<br>12,856<br>25<br>-<br>12,882<br>14,073<br>Rector’s discretionary fund<br>43<br>10<br>-<br>53<br>-<br>Gift Aid recovered<br>6,177<br>347<br>-<br>6,524<br>9,317<br>Other income<br>20,728<br>-<br>-<br>20,728<br>2,410|
||Total receipts<br>79,296<br>15,978<br>-<br>95,275<br>77,575<br>Payments<br>Stipend, salary, etc.<br>38,220<br>-<br>-<br>38,220<br>34,603<br>Diocesan assessment<br>5,028<br>-<br>-<br>5,028<br>4,776<br>Fundraising expenses<br>-<br>95<br>-<br>95<br>328<br>Church running costs<br>1,654<br>3,500<br>-<br>5,154<br>7,885<br>Parish Centre costs<br>6,973<br>-<br>-<br>6,973<br>18,450<br>Rectory & Hurst costs<br>2,396<br>2,780<br>-<br>5,176<br>11,162<br>Graveyards & grounds<br>3,659<br>-<br>-<br>3,659<br>1,472<br>Administration costs<br>6,813<br>-<br>-<br>6,813<br>9,522<br>Charitable donations<br>40<br>2,280<br>-<br>2,320<br>3,071<br>Rector’s discretionary fund<br>-<br>260<br>-<br>260<br>-<br>Youth club expenses<br>240<br>-<br>-<br>240<br>-<br>Bank fees & interest<br>2,724<br>-<br>-<br>2,724<br>2,472<br>Transfer of balances<br>5,703<br>-<br>-<br>5,703<br>-|





||Unrestricted<br>funds<br>Restricted<br>funds<br>Endowment<br>funds<br>Total 2024<br>Total 2023|
|---|---|
||Total payments<br>73,451<br>8,915<br>-<br>82,366<br>93,711<br>Net income/expenditure<br>5,845<br>7,063<br>-<br>12,908<br>-16,136<br>Transfers in<br>714<br>8,733<br>-<br>9,447<br>87,849<br>Transfers out<br>-6,544<br>-2,903<br>-<br>-9,447<br>-87,849<br>Other gains/losses<br>-63<br>88<br>-<br>24<br>-|
||Net movement in funds<br>-48<br>12,981<br>-<br>12,933<br>-16,136<br>Reconciliation<br>Brought forward<br>-58,711<br>57,212<br>1,328,166<br>1,326,667<br>1,342,803|
|Carried forward<br>-58,759<br>70,193<br>1,328,166<br>1,339,600<br>1,326,667<br>Signed on behalf of the trustees<br>Canon Gill Withers..................................................................................................... (Rector)<br>Elaine McFeeters.................................................................................................... (Hon. Secretary)<br>12 May 2025 ......................................................................................................................... Date||





## Statement of assets and liabilities for the year ended 31.12.2024 

||Unrestricted<br>funds<br>Restricted<br>funds<br>Endowment<br>funds<br>Total<br>2024<br>Total<br>2023|
|---|---|
||Cash funds<br>Petty cash<br>58,316<br>-58,316<br>-<br>-<br>-<br>No. 1 account<br>-39,173<br>-758,613<br>780,025<br>-17,761<br>-23,507<br>No. 2 account<br>-151,595<br>94,326<br>58,051<br>782<br>-1,408<br>Savings account<br>13,694<br>-2,204<br>-<br>11,490<br>5,789|
||Total cash funds<br>-118,759<br>-724,807<br>838,077<br>-5,489<br>-19,126<br>Investment assets<br>Parish investments<br>-<br>-<br>57,672<br>57,672<br>57,672<br>Other investments<br>-<br>-<br>46,457<br>46,457<br>46,457<br>RB Gen Unit Trust (NI)<br>-<br>-<br>259,401<br>259,401<br>259,401<br>Church of Ireland Trustees<br>-<br>-<br>21,559<br>21,559<br>21,559|
||Total investment assets<br>-<br>-<br>385,089<br>385,089<br>385,089<br>Retained assets<br>Parish properties<br>60,000<br>795,000<br>105,000<br>960,000<br>960,000|
||Total retained assets<br>60,000<br>795,000<br>105,000<br>960,000<br>960,000|
||Total assets<br>-58,759<br>70,193<br>1,328,166<br>1,339,600<br>1,325,963<br>Liabilities<br>Sundry creditors<br>-<br>-<br>-<br>-<br>-703|
||Total liabilities<br>-<br>-<br>-<br>-<br>-703|
||Assets less liabilities<br>-58,759<br>70,193<br>1,328,166<br>1,339,600<br>1,326,667|





## Signed on behalf of the trustees 

Canon Gill Withers ..................................................................................................... (Rector) Elaine McFeeters .................................................................................................... (Hon. Secretary) 12 May 2025 ......................................................................................................................... Date 



## Notes to the financial statements for the year ended 31.12.2024 

## Accounting policies 

Set out below are the principal accounting policies adopted in the compilation of the receipts and payments account and the statement of assets and liabilities. All items of income and expenditure included within the receipts and payments account have been accounted for on a cash receipts basis. Fixed asset investments - properties, equities (ordinary shares), and RCB/CIT unit trusts - are stated at fair value at each year end date. Investments in unquoted investments are recorded at cost and are assessed annually for impairment. 

The parish has retained the church buildings, graveyards, parish centre, rectory, and fixtures and fittings for its own use. The church buildings, graveyards, and fixtures and fittings are deemed to be heritage assets as defined by the Charities SORP (FRS102). They are not included in the statement of assets and liabilities because information on their cost or valuation is not available and cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the parish. 

The parish centre has an insurance value of £795,000 and the rectory a rateable valuation of £87,500. Following renovation, the Margaret Hurst Dwelling (17 Ann Street) has been let and is managed by Dynes Residential Ltd. The property has a rateable valuation of £77,500. The valuations of the parish properties are shown as an aggregated figure in the statement of assets and liabilities. 

## Reconciliation of cash funds 

||Petty cash|No. 1|No. 2|Savings|Total|
|---|---|---|---|---|---|
||account|account|account|account||
|Total cash funds, 01.01.2024|-|-23,507|-1,408|5,789|-19,126|
|Receipts for the year|51,054|103,229|-29,771|10,701|135,213|
|Payments for the year|51,054|97,483|31,961|5,000|123,383|
|Total cash funds, 31.12.2024|-|-17,761|782|11,490|-5,489|



## Movement in funds, 01.01.2024 to 31.12.2024 

||Balances<br>2023<br>Incoming<br>resources<br>Outgoing<br>resources<br>Transfers<br>Gains<br>Journal<br>entries<br>Balances<br>2024|
|---|---|
||Unrestricted<br>General Fund<br>-58,711<br>79,296<br>73,451<br>-5,830<br>-<br>-63<br>-58,759<br>Designated<br>Rector’s Disc. Fund<br>-<br>92<br>54<br>135<br>-<br>-<br>173|





||Restricted<br>Building Fund<br>10,871<br>1,802<br>6,280<br>3,614<br>-<br>88<br>10,095<br>Graveyard Fund<br>4,059<br>1,814<br>-<br>-1,441<br>-<br>-<br>4,432<br>Mission Fund<br>1,019<br>1,458<br>2,581<br>919<br>-<br>-<br>815<br>Youth Fund<br>817<br>-<br>-<br>817<br>-<br>-<br>-<br>St James’s Appeal<br>40,446<br>10,812<br>-<br>3,420<br>-<br>-<br>54,678<br>Endowment<br>Investment Fund<br>368,166<br>-<br>-<br>-<br>-<br>-<br>368,166<br>Property Fund<br>960,000<br>-<br>-<br>-<br>-<br>-<br>960,000|
|---|---|
||Total<br>1,326,667<br>95,274<br>82,366<br>-<br>-<br>24<br>1,339,600|



## PURPOSE OF FUNDS 

The General fund is for day-to-day financial management. 

The Rector’s Discretionary Fund provides small gifts and comforts to elderly or deserving parishioners and townsfolk. 

The Building Fund is for financing capital expenditure on parish properties. The Graveyard Fund, the Mission Fund, the St James’s Appeal Fund, and the Youth Fund hold donations which are to be disbursed on those purposes. 

The Investment Fund and the Land and Property Fund hold the parish’s investments. 

## Charitable disbursements 

||Total 2024<br>Total 2023|
|---|---|
||Bishops’Appeal<br>Bicycles for Maredi<br>160<br>-|
||Sub-total<br>160<br>-<br>Rector’s discretionary fund<br>Elderly or deserving parishioners and townsfolk<br>255<br>341<br>Green Isle Residential Home<br>5<br>-|





||Total 2024<br>Total 2023|
|---|---|
||Portaferry Methodist Church (roof appeal)<br>-<br>45|
||Sub-total<br>260<br>386<br>World mission<br>Open Doors (CHY 20140984)<br>-<br>50|
||Sub-total<br>-<br>50<br>Other developmental agencies<br>Bangor Foodbank and Community Support (NIC108533)<br>140<br>-<br>Christian Aid (NIC 101631)<br>-<br>70<br>Eggshell Cambodia (NIC 106896)<br>600<br>600<br>Tearfund (Registered Charity 265464)<br>65<br>-<br>Youth for Christ NI (NIC 106072)<br>-<br>250|
||Sub-total<br>805<br>920<br>Secular charities<br>Air Ambulance NI (NIC 103900)<br>500<br>-<br>Lymphoma Action (Registered Charity 1068395)<br>45<br>125<br>Macmillan Cancer NI (Registered Charity 261017)<br>70<br>50<br>NI Pancreatic Cancer (NIC 108048)<br>-<br>125<br>RNLI (Registered Charity 209603)<br>-<br>720<br>ShelterBox (Registered Charity 1096479)<br>475<br>-<br>Water Aid (Registered charity 288701)<br>-<br>443|
||Sub-total<br>1,090<br>1,463<br>Remembrance<br>Army Benevolent Fund (Registered Charity 1146420)<br>125<br>-<br>Beyond the Battlefield (NIC 100198)<br>-<br>100|





||Total 2024|Total 2023|
|---|---|---|
|SSAFA (Registered Charity 210760)||100|
|St John and Red Cross DMWS (Registered Charity 1087510)|70|-|
|The Not Forgotten Association (Registered Charity 1150541)|70|-|
|Sub-total|265|200|
|Total|2,580|3,065|



## Transactions with the trustees 

Trustees who were aged over seventy, like other parishioners of that age, received a small gift at Christmas from the Rector’s Discretionary Fund. No gift was worth more than £10. 

No trustee received any remuneration during the year, other than Rosemarie Armstrong-Woodroffe (£40 for lay reader duties), Elizabeth Browne, Rhoda Dorndorf, and Elaine McFeeters (£260 for purchases for the Rector’s Discretionary Fund), and Rev. Canon Gillian Withers (£27 for purchases for the St Patrick’s Eve service). The expenses were incurred with the express concurrence and prior authorisation of the trustees, who have examined the reimbursements and are satisfied with their propriety. 

No trustee or a person related to a trustee had any personal interest in any contract or transaction which the charity entered during the year, other than Mark Alcorn, who received £245 in respect of materials purchased for minor works (labour for the same was provided as a freewill offering). The expenses were incurred with the express concurrence and prior authorisation of the trustees, who have examined the reimbursements and are satisfied with their propriety. 

## Governance costs 

Governance costs incurred during the year ending 31.12.2024 were the independent examiner’s fee of £860. 

Signed on behalf of the trustees 

Canon Gill Withers ..................................................................................................... (Rector) Elaine McFeeters .................................................................................................... (Hon. Secretary) 12 May 2025 ......................................................................................................................... Date