Parlsh of Larne & Inver
St. Cedma's Church
Statement of Flnanclal Artlvltles for the year ended 31 December 2023
Note
Income
Donations & legacies
Investments
Charitable Activities
Other Tradin8 Activities
Other Income
121,874
1,149
3,050
109
2,345
3,780
124,924
1,258
2,345
12,070
2.086
138,517
1.054
2,560
12,434
1,206
8,290
2,086
Total Income
133,399
9,284
142,683
155,771
Ex
endlture on:
Charitable activities
Other costs
Governance
125.981
5,584
636
1.600
740
127,581
6,324
636
126,096
6,111
636
Total Ex
endltur
132,201
2,340
134,541
132,843
Net Income before transfers
1,198
6,944
8,142
22,928
Transfers between funds
5,870
-S,870
Net lexpendlturellln¢ome before
other reco8nlsed 8alns and losses
7.068
1,074
8,142
22,928
GainllLossl on investments
138,8301
138,8301
16,679
Net movement In funds
7,068
1,074
138,8301
130,6881
39,607
Reconclllatlon of funds:
Total funds brou8ht forward
60,300
1,311,954
562,011
1.934,265
1,894,658
Total funds carrled fonvard
67,368
1.313,028
523,181
1,903,577
1,934,265

Parlsh of Larne & Inver
St. Cedma's Church
Balance Sheet a5 at 31 December 2023
Note
2023
2022
Fixed Assets
Tangible Fixed A55etS
Investments
Total fixed assets
12
13
1.296,080
523,181
1,819.261
1,296,755
562,011
1.858,766
Current Assets
Cash and cash equivalents
Total current assets
84,916
84,916
76,099
76,099
Credltors- amounts falllng due wlthln one year
Accruals
Total creditors
600
600
600
600
Net Current Assets
84,316
75,499
Total net Assets
1,903,577
1.934.265
Funds of the charlty
Unrestricted funds
General funds
Total unrestricted funds
Restricted Funds
Endowment Funds
16
67,368
67,368
1,313,028
523,181
60,300
60.300
1,311,954
562,011
16
16
Total church fund5
1,903,577
1,934,265
The notes on pages 8 to 17 are an integral part of these financial statement5.
The financial statements on pages 6 to 17 were approved by the Board of Trustees Iselect Vestry) on
th
11 April 2024 and signed on its behalf by:
Rev. D.
ckhart, Chairman of Trustees
Mr.J.B
nlees, Honorary Treasurer

Parlsh of Larne & Inver
St. Cedma's Church
Notes to the flnanclal statements for the year ended 31 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..
a) Basls of preparatlon
The financial statements have been prepared on a 8oin8 concern basi5 in accordance with Accounting and
Reporting by Charities.. Statement of Recornmended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
(Charities SORP (FR$ 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021.
The Parish meets the definltion of a public benefit entity under FRS 102. Assets and liabilities are inltially
reco8nlsed at hlstorical cost and transaction value unless otherwise stated in the relevant accounting policy
notelsl.
bl Preparatlon of accounts on a golng concern basls
The Parish generally meets its day to day working capital requirements from its annual income. The Trustees
have obtained and reviewed budgets 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
cl Income
Plate Collections and freewlll offerings 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, 15 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 wlthln Income under either unrestricted or restricted funds according to the terms under
which the donation 15 made and when the amount can be quantified with reasonable certainty. Donations and
gifts in klnd are brought into the accounts at their fair value to the Parlsh.
d) Expendlture
Expenditure is reco8nised 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 w35 incurred.

Parish of Larne & Inver
St. Cedma's Church
Notes to the financial statements for the year ended 31 December 2023
l. Accounting pollcles {contlnued)
e} Tangible assets
The a55ets of the Parish comprise:_
Church Building
Parish Hall
New Inver Hall
Rectory
Fixtures and fittings
The Church Building is deemed to be a heritage assets as defined by the Charities SORP IFRS102}. This heritage
asset is 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 account5 and to
the parish.
The Rectory is recognised at cost / deemed cost, being the estimated fair value of the property at 31 December
2016 No depreciation has been provided on the Rectory as the current estimated residual value is not le55 than
its carrying value and the rernaining useful life currently exceeds 50 years.
Fixtures and Fittings are recognised at cost and are depreciated on a straight line basis over a period of 10 years.
The assets, residual value5 and useful lives are reviewed, and adjusted, if appropriate, at the end of each
reporting period. The effect of any change 15 accounted for prospectively.
The Parish has set a minimum threshold of cost for an item to be considered to be capitalised as a fixed asset-
i.e. not less than £1,000.
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 Ilossesl/gains'.
10

Parish of iarne & Inver
St. Cedma's Church
Notes to the financlal statements for the year ended 31 December 2023 Icontlnuedl
l. Accountlng pollcles Icontlnued)
n Investments
Fixed asset investments comprising investments 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 and105ses 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 Gains1 ILos5esl on Investments. within the
Statement of Financial Activities.
gl Cash and cash equlvalents
Cash and cash equivalents Includes cash in hand, deposit5 held at call wlth banks, other short-term highly liquid
investments wlth orl8inal maturities of three months or less and bank overdrafts. Bank overdrafts are shown
withln Creditors: Amounts falling due within l year.
h) Flnanclal Instruments
The Parish only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financlal instruments are initially reco8nlsed at transactlon prlce and subsequently measured at their
settlement value.
l) Funds
Funds are classified as either restricted funds, endowment 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 fund5 are funds which have been given on the condition that the original capital sum is not reduced,
but the income there from 15 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 partlcular purpose, they
are designated as a separate fund. This desi8nation has an administrative purpose only and does not legally
restrict the trustees, discretion to apply the fund.
Z. Crltlcal accountlngJud8ements and estlmatlon uncertalnty
Estimates and jud8ments 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 assumptions which may have a significant f isk of causing a material adjustment to carrying amounts of
assets and liabilities within the next financial year.

Parish of Larne & Inver
St. Cedma's Church
Notes to the financlal staternents for the year ended 31 December 2023 {¢ontinuedl
3. Donations and legacies
Unrestricted
Funds
2023
Restricted
Funds
2023
Endowment
Funds
2023
Total
2023
Total
2022
Plate Collections
Weekly envelopes/ FWO
Tax recovered on donations
Donations- general
Glynn & Raloo Stipend
Special Collections
Diocesan Grant
Other Grants
Church of Ireland Trustees
Other Income
1,284
67,586
13,007
1,284
69.306
13,007
1,330
22,068
1,343
73,919
19,173
212
20,247
1,720
1,330
22,068
1,250
1,250
7,737
16,679
16,679
15,886
121,874
3.050
124,924
138,517
4. Investments
Interest
RCB Distribution
185
964
1,149
185
153
901
1,054
109
109
1,073
1,258
Charltable Activities
Donations in memorium
2,345
2,345
2.345
2,345
2,560
2,560
Other Trading Artivities
Use of Facilities
Projects & events
Magazine receipts
8.290
8,290
3,780
8,080
4,309
45
12,434
3,780
8,290
3,780
12,070
Other Income
Power Nl Grant
Funerals
Board of Education
Mid & East Antrim Council
600
280
1,206
600
280
1.206
1.206
2,086
2,086
1,206
12

Parish of Larne & Inver
St. Cedma's Church
Notes to the financlal statements for the year ended 31 December 2023 Icontlnuedl
Analysls of Expendlture
Unrestricted Restrlcted
Funds
Funds
2023
2023
Endowment
Funds
20Z3
Total
2023
Total
2022
Wages and salaries
Pension contributions
PAYEINIC
Dlocesan costs/ assessment
Church runnlng costs
Church repairs
Rectory rates
Clergy expenses
Rectory expenses
Charitable donations
Administratlon costs
Sunday school
51,872
15,253
12,334
12,522
6,779
4,012
938
11,833
1,614
2,415
6,211
198
51,872
15,253
12,334
12,522
6,779
5.612
938
11,833
1,614
2,415
6,211
198
50.648
12,811
12,354
13,684
5,742
7.320
938
10,705
1,358
2,227
8,211
98
1,600
12S,981
1,600
127,581
126.096
Other Costs
Insurance
Sundries
Bank interest and char8es
Depreciation
5,053
241
290
5,053
306
290
675
4,849
292
295
675
65
675
5,584
636
740
6,324
636
6,111
636
Governance Costs
9. Galn on Investments
2023
2022
Unrealised GainsllLossl on investments
138,8301
138,8301
16,679
16,679
13

Parish of Larne & Inver
St. Cedma's Church
Notes to the financial statements for the year ended 31 December 2023 Icontlnued)
10. Taxation
The Church is recognised as a charity for the purposes of applicable taxation legislation and is therefore
not subject to taxation on its charitable activities.
11. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
Employees
2023
2022
Salaries and wages including National Insurance
Pension contributions
Total
64.206
15,253
79,459
63,002
12,811
75,814
The average number of employees during the year, calculated on the basis of a head count, was as
follows:
2023
Number
2022
Number
Rector
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 Trustee5. No trustee, apart from the Rector, received anv
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.
14

Parlsh of Larne & Inver
St. Cedma's Church
Notes to the flnanclal statements for the year ended 31 December 2023 Icontlnued)
12. Tanglble fixed assets
Offlce
Equipment
8ulldln8S
Total
Cost
At be8innin8 of the year
Additions
Disposals
At end of the year
1,292,706
6,749
1,299,455
1,292,706
6,749
1,299,455
Depreclatlon
At beginnlng of the year
Depreciation
Disposals
At end of the year
2,700
675
2,700
675
3,375
3,375
Net book value at beginning of the year
Net book value at end of the year
1,292,706
1.292,706
4.049
3,374
1,296,755
1,296,080
13. Investments
Llsted
Investments
Other
Investments
Total
Balance at be8inning of the year
Additions during the year
Disposals during the year
Fair Value 8ain / Ilossl on investments
Interest
Balance at end of the year
562,011
562,011
138,8301
138,8301
523,181
523,181
Analysls of Investments
Church of Ireland Trustees
Investments in RB Unit Trusts
516,681
6,500
516,681
6,500
523,181
523,181
15

Parish of Larne & Inver
St. Cedma's Church
Notes to the financial statement5 for the year ended 31 December 2023 Icontinuedl
14. Debtors
2023
2022
Sundry debtors
IS. Financial instruments
2023
2022
Investments
Cash and cash equivalent5
Sundry debtors
523,181
84,916
500,299
76,099
608,087
576,398
16

Parlsh of Larne & Inver
St. Cedma'5 Church
Note5 to the financial statements for the year ended 31 December 2023 (continued)
16. Funds of the Parish
Atljan
2023
At 31 Dec
2023
Income Expendlture GalnlLosses
Transfers
Endowment funds
Bequests and legacies
562,011
138.8301
523,181
Restrlcted ftsnds
Building Fund
Rectors discretionary fund
1,302,928
607
9,075
209
-1.600
-65
-675
2,549 1.312,277
751
1,303,535
9.284
-1,665
-675
2,549 1,313,028
Unrestrlcted funds
General Fund
68.719
133.399
-132,201
-2,549
67.368
Total funds
1,934,265
142,683
-133,866
139,5051
1,903.577
Pur
oses of Endowment Funds
Income from various bequests as set out on page 13, where capital is to be invested and interest only
is to be used for charitable purposes.
Pur
oses of Restricted Funds
Building Fund: This is a fund to assist with capital expenditure and major repairs to church property.
Rectors discretionary fund.. This is a fund to be used for pastoral care.
17

Parish of Larne & Inver
St. Cedma's Church
Notes to the financlal statements for the year ended 310ecember 2023 {continued}
17. Collection for Thlrd Parties
2023
2022
Air Ambulance
CAP
Christmas Appeal IBlack Santa)
Tear Fund
Food Bank
600
850
1,230
1,140
20
25
105
25
Poppy Appeal
2,415
1,580
The amounts above have been included in expenditure for the year under "Charitable donations"
18