Parfsh of Lame & Inver
St. Cedma's Church
Statement of Flnandal Actlvltles for the year ended 31 Deumber 2024
Not
In
Donatlons & le8a¢les
Investments
Charltable Actl¥ltle5
Other Tradlng Actlvltles
Other Income
222,169
1,498
615
9,085
579
1.720
109
223,889
1,607
615
11,218
579
124,924
1,258
2,345
12,070
2,086
2,133
ncom
233,946
3,962
237,908
142,683
Charltable actlvltle5
Other costs
Governance
114,853
5,608
636
2,819
675
117,672
6,283
636
127,581
6,324
636
121,097
3,494
124,591
134,541
Net Income befoie transfers
112,849
113.317
8,142
Transfers between funds
1103,515)
615
102,9
{expendlture)Ilncome before
other reco8nlsed 8alns and losses
9,334
1,083
102,9CKI
113,317
8,142
Galnl{Lossl on Investments
78,884
78,884
138,8301
Net movement In funds
9,334
181,784
192,201
130,6881
Reconclllatlon of funds:
Total funds brou8ht forward
67,368
1,313,028
523,181
1,903,577 1,934,265
76,702
1,314,111
704,965
2,09S,778
1,903,577

Parlsh of Laine & Inver
St. Cedma's Church
alance Sheet a5 at 31 December 2024
Note
2024
2023
Flxed Assets
Tanglble Fixed Assets
Investments
Total flxed assets
12
13
1,295,405
704,965
2,000,370
1,296,080
523,181
1.819.261
Current Assets
Cash and cash equlvalents
Total current a￿et$
96,008
96,008
84,916
84,916
Credltors- amounts fallln8 due wlthln one year
Accruals
Total credltors
600
600
600
600
Net Current Assets
95,408
84,316
Total net Assets
2,095,778
1,903,577
Funds of the charlty
Unrestrlrted funds
General funds
Total unrestrlcted lunds
Reslrl¢ted Funds
Endowment Funds
16
76,702
76,702
1,314,111
704,965
67,368
67,368
1,313,028
523,181
16
16
Total ch14rch funds
2.095,778
1,903,577
The notes on pa8es 8 to 17 are an Inte8ral part of these flnandal statements.
The financlal statements on pages 6 to 17 were approved by the Board of Trustees (Select Vestry) on
Ih
17 Aprll 2025 and slgned on Its behalf by:
Rev. D. Lo
hart, Chalrman of Trustees
Mr. J. Br
lees, Honorary Treasurer

Parfsh of iame & Inver
st. Cedma's Church
Motes to the flnancl•l statements for the year ended 31 Dec•mber 2024
1. Accountlng pollcle8
The prlnclpal accountlng pollcles adopted. Judgements and key souros of estlmatlon uncertalnty In the
preparatlon of the flnantlal Statements are as follow5:
al B•sls of preparntlon
The flnanclal statements have been prepared on a golng concern basls In accordan￿ wlth Accountlng and
Reportlng by Charltles.. Statement of Recommended Practlce appllcable to charltles preparln8 thelr accounts
accordance wlth the Flnanclal Reportln8 Standard appllcable In the UK and Republlc of Ireland IFRS 102)
Icharltles SORP IFRS 102)), the FSnancbal Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS
102}.
The Paflsh meets the deflnltlon of a publlc beneflt entlty under FRS 102. Assets and Ilabllltles are InStlally
recognlsed at hlstorlcal cost and transactlon value unless other*lse stated In the relevant accountlng pollcy
note(sl.
b) Prepar•llon of •¢¢ounts on • goln8 concem basls
The Parlsh generally meets Its day to day worklng capltal requlrements from Its annual Income. The Trustee5
have obtalned and revlewed bud8Èts for the comln8 year and based on these are satlsfled that the Parlsh has
resources to provlde a reasonable expertatlon that It can contlnue to meet Its flnanclal obllgatlons as they fall
due for the foreseeable future . Therefore, these flnandal statements have been prepared on a golng concern
basls
c) Income
Plate Collectlons and freewlll offerln85 are accounted for on a cash recelpts basls as the amount Is collected
Income from government and other 8rants, whether'capltal, grants or 'revenue' grants, Is reco8nlsed when the
charlty has entltlement to the funds, any performance condltlons attached to the grants have been met, It Is
probable that the Income wlll be recelved and the amount can be measured rellably and15 not deferred.
Legacles are Included wlthln Income under elther unre5trlcted or restrlcted funds accordlng to the terms under
whlch the donation is made and when the amount can be quantlfied wlth reasonable certalnty. Donatlons and
8lfts In klnd are brought Into the account5 at thelr falr value to the Parlsh.
dl Expendlture
Expendlture Is recognlsed once there15 a legal or construrtlve obll8atlon to make a payment to a thlrd party, It
Is probable that seltlement wlll be requlred, and the amount of the obll8atlon can be measured rellably.
Irrecoverable VAT Is charged as a cost agalnst the actlvlty for whlch the expendlture was Incurred.

Parlsh of Lame & Inver
st. Cedma's Churth
Notes to the flnandal statements for the year ended 31 Dec•mber 2024
l. Ac¢wntlr¥ pollde5 Icontlnued)
el Tan8lble assets
The assets of the Parlsh comprlse:.
Church 8ulldlng
Paflsh Hall
New Inver Hall
Rectory
Flxtures and fittlngs
The Church Bulldlng Is deemed to be a herltage assets as defined by the Charltles SORP IFRS102). Thls herltage
asset Is not Induded on the balance sheet as Informatlon on the cost or valuatlon Is not avallable and such
Informatlon cannot be obtalned at a cost commensurate wlth the benefit to the users of the accounts and to
the parlsh.
The Rectory Is reco8nlsed at cost / deemed ¢OSL beln8 the estlmated falr value of the property at 31 December
2016. No depreclatlon has been provlded on the Rectory as the Current e5tlmated resldual value Is not less than
Its carrylng value and the remalnln8 useful Ilfe currently exceeds SO years.
Flxtures and Flttlngs are recogn15ed at cost and are depreclated on a stral8ht Ilne basls over a perlod of 10 years.
The assets, resldual Values and useful lfves are revlewed, and adjusted, If approprlate. at the end of each
reporting pÈrlod. The effect of any change Is accounted for prospectlvely.
The Parlsh has Set a mlnlmum threshold of cost for an Item to be consldered to be capltallsed as a flxed asset-
l.e. not less than £I,￿K1.
Tan8lble assets are dereco8nlsed on dlsposal or when no future economlc beneflls are expected. On dlsposal,
the dlfference between the new dlsposal proceeds and the carryln8 amount ts reco8nlsed In the statement of
financlal actlvltles and Included In 'Other opeiatlr4 (losses)18aln￿.

Parlsh of Larne & Inver
St. Cedma's Church
Notes to the Ilnandal statements for the year ended 31 December 2024 Icontlnued)
l. Accountln8 polldes Icontlnued)
fj Invertm•nts
Flxed asset Investments comprlslng Investments In RCBICIT Unlt Trusts are Inltlally recorded at cost and are then
subsequently stated at falrvalue at each balance sheet date. Investments In unquoted Investments are recorded
at cost and are assessed annually for Impalrment. Unrealised ￿1n5 and losse5 represent the difference between
the falr value at the beglnning and end of the flnanclal year or, If purchased In the year. the dlfference between
cost and falr value at the end of the year. Reallsed galns and losses represent the dlfference between the
proceeds on disposal and the fair value at the start of the year or cost If purchased In the year. 80th realised and
unrealised galns and1055es In Investments are reported wlthln "Net Galns / (L055es) on Investments" wlthln the
statement of Flnanclal Actlvltles.
g) Cash and cash equlvalents
Cash and cash equfvalents Indude5 cash In hand, deposits held at call wlth banks, other short-tem) hl8hty Ilquld
Investments wlth orl8lnal maturltle5 of three months or less and bank overdrafts. Bank overdrèfts are shown
wlthin Credltors: Amounts fallln8 due wlthln l year.
h) Flnanclal Instruments
The P3rish only has flnancial assets and finandal Ilabllltles of a klnd that quallfy as baslc flnanclal Instruments.
Baslc financlal Instruments are Inltlally recognised at tran5actlon price and subsequently measured at thelr
settlement value.
11 Funds
Funds are classlfled 35 elther restrlcted funds, endowment funds or unrestrlcted funds, defined as follows.
Restricted funds are funds subject to speclflc requlrements as to thelr use which may be dedared by the donor
or wlth thelr authorlty or created through legal processes, but stlll wlthln the wlder objects of the Parlsh.
Endowment funds are funds whlch have been glven on the condltlon that the orl8lnal capltal sum Is not reduced,
but the income there from is used for the purpose defined in accordance wlth the objects of the P?rlsh.
Unrestricted funds are expendable at the dlscretlon of the trustees In furtherance of the objects of the charlty.
If parts of the unrestrlcted funds are eamiarked at the discretlon of the trustees for a partlcular purpose, they
are destgnated as a separate fund. This deslgnatlon has an admlnistratlve purpose only and does not legally
restrlct the trustees, dlscretlon to apply the fund.
2. Crltlcal accountln8 Judgements and estlrnatlon uncertalnty
Estlmates and judgments made In the process of preparing the flnanclal statements are continually evaluated
and are based on hlstorlcal experlence and other factors, includln8 expertatIO￿ of future events that are
belleved to be reasonable under the circumstances. The trustees do not consider that there are any crltlcal
Judgments made in applylng the Parlsh's accountlng pollcles or that there are any crltlcal accountln8 e5tlmate5
or assumptlon5 whlch may have a slgnlflcant rlsk of causln8 a materhal adjustment to carryln8 amounts of
assets and Ilabllltles withln the next financial year.
10

Parlsh of Larne & Inver
St. Cedma's Churth
Notes to the flnandal statements for the ￿ar ended 31 December 2024 Icontlnued)
3. Donatlons and le8acles
Unrestrlcted
Funds
2024
Restrlcted Endowment
Funds
Funds
2024
2024
Total
2024
Total
2023
Plate ColSectlons
Weekly envelopesl FWO
Tax recovered on donatlons
Donatlons- 8eneral
Glynn & Raloo Stlpend
Bequest Income
Dlocesan Grant
Other Grants
Church of Ireland Trustee5
Other Income
1,016
62,203
15,573
L016
63,823
15.573
3,606
21,518
103,223
1,284
69,306
13,007
1,330
22,068
1,620
ILX)
21.518
103,223
1,250
15,130
15,130
16,679
222,169
1,720
223,889
124,924
4. Investments
Interest
RCB Dlstrlbutlon
458
1,040
1,498
458
1,150
1,607
185
1,073
1,258
109
109
5, Charhable Actlvltles
Donatlons In memortum
61S
615
615
615
2,345
2,345
other Tradlng Actlvftles
Use of Facllltles
Projects & events
Magazine receipts
8,975
8,975
2,133
iio
11,218
8,290
3,780
2,133
iio
9,085
2,133
12,070
other Income
Power Nl Grant
Funerals
Board of Educatlon
Murray Foundation Grant
600
280
1,206
579
579
2,086

Parfsh of Larne & Inver
St. Cedma's Church
Notes to the finandal statements for the year ended 31 L)ttember 2024 Iconttnuedl
& Analysls of Expendlture
Fund5
2024
Funds
2024
Funds
2024
Total
2024
Total
2023
Wages and salarles
Pension contrlbutlons
PAYEINIC
Dlocesan costsl assessment
Church runnin8 Costs
Church repalrs
Rectory rates
Clergy expenses
Rectory expenses
Charltable donatlons
Admlnlstratlon costs
Sunday school
48,529
11,185
8,951
12,280
7,206
2A39
1,071
8￿10
48,529
11,185
8,951
12,280
7,21J6
5,658
1,071
8,810
3,990
2,815
6.615
562
51,872
15,253
12,334
12,522
6,779
5,612
938
11,833
1,614
2,415
6,211
2,819
2,815
6.615
562
I14￿53
2.819
117,672
127,581
Other Costs
Insurance
Sundrles
Bank interest and charges
Depreclatlon
5,325
S.325
5,053
306
290
675
282
282
675
675
675
6,283
636
6,324
636
Governance Costs
636
9, Galn on Investments
2024
2023
Unreallsed GaIn￿(loss) on Investments
78,884
78,884
{38,830)
{38,830)
12

Parlsh of Larne & Inver
St. Cedma's Church
Notes to the flnandal statements for the ￿ar ended 31 December 2024 Icontlnuedl
10. Taxatlon
The Church Is recognlsed as a charlty for the purposes of appllcable taxatlon le8lslatlon andls therefore
not subject to taxatlon on Its charltable actlvltles.
11. Analysls ofstaff costs, trustee remuneratlon and expenses, and the cost of key management personnel
Employees
2024
2023
Salarles and wages Includln8 Natlonal Insurance
Pen51on contrlbutlons
Total
57,480
11,185
68,665
64,206
15,253
79,459
The average number of employees durlng the year, calculated on the basls of a head count, was as
follows:
2024
Number
2023
Numb•r
Rector
MlnlsterSal support
Admlnlstratlon
Muslc staff
Premlses malntenance
There are no employees In recelpt of employee beneflts In excess of £60,000
Key Management and Trustees
Key management are deemed to comprlse the Trustees. No trustee, apart from the Rector, re¢elved any
remuneratlon or relmbursement ofexpenses durlng the year.
No trustee or a person related to a trustee had any personal Interest In any contract or transactlon
entered Snto by the charlty durlng the year.
13

Parlsh of Larne & Inver
st. Cedma's Church
Notes to the flnanclal statements for the year ended 31 December 2024 (contlnuedl
12. Tanglble flxed assets
Offlce
Equlpment
Bulldln85
Total
Cost
At beglnnlng of the year
Addltlons
Dlsposals
At end ofthe year
1,292.706
6,749
1,299,455
1,292,706
6,749
1,299,455
Depreclatlon
At beglnnln8 of the year
Depreciatlon
Dlsposals
At end ofthe year
3,375
675
3,375
675
4,050
4,050
Net book value at be8lnnlns of the year
Net book value at end of the year
1,292,706
1,292,706
3,374
2.699
1,296,080
1.295,405
13. Investments
Llsted
Investments
Other
Investments
Total
Balance at beglnnlng of the year
Additions durln8 the year
Dlsposals durlng the year
Falr Value Baln l {loss} on Investments
Interest
Balance at end of the year
523,181
102,900
523,181
102,9C(I
78,884
78,884
704,965
704,965
Analysls of Investments
Church of Ireland Trustees
Investments In RB Unlt Trusts
673,289
31,676
673,289
31,676
704.965
704,965
14

Parlsh of Lame & Inver
St. Cedma's Church
Notes to the flnandal statements for the ended 31 De¢ember 2024 Icontlnued)
14. Debtors
2024
2023
Sundry debtors
IS. Flnanclal Instruments
2024
2023
Investments
Cash and cash equlvalents
Sundry debtors
704,965
523,181
84,916
81XJ,973
608,087
15

Parfsh of Lame & Inver
St. Cedma's Church
Notes to the flnandal statements for the year erKled 31 December 2024 Icontlnued}
16. Funds of the Parlsh
Atljan
2024
At 31 Dec
2024
Income Expendlture GalnlLosses Transfers
Endowment funds
Bequests and legacies
523,181
78,884
102,9CKI
704,965
Restrlcted funds
8uildlng Fund
Rectors discretionary fund
1,312,277
751
3,753
209
-2,819
75
615 1,313,151
960
1.313,028
1,829
-2,819
75
615 1,314,111
Unre5trfcted funds
General Fund
Investment Account
67.368
233.750
196
-121,097
-132,515
29,000
47.506
29,196
Total funds
1,9)3,577
237.￿8
-123.916
78,209
2,095,778
Pur
ose5 of Endowment Fun
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
ses of Restrict
Funds
Building Fund: Thls Is a fund to assist with capital expenditure and major ￿paIrS to churth property.
Rectors dlsuetlonary fund: This i5 a fund to be used for pastoral care.
16

Parlsh of Larne & Inver
St. Cedma's Church
Notes to the flfiandal statements for the year anded 31 December 2024 (contlnuedl
17. Colbectlon lorThlrd Partles
2024
2023
Women's Ald
Barnabas Ald
Chrlstmas Appeal (Marfs Meals/Bla¢k Santa)
Tear Fund
Food Bank
300
1,305
1,050
1,230
1,140
20
25
100
Poppy Appeal
2,815
2,415
The amounts above have been Included In expendlture for the year under 'Charltable donatlons..
17