Newtownards Ball alter Hol Trinit Down&Dromore Church of Ireland Trustee Re ort and Statement of Recel ts and Pa Assets and Liabilities ments and for the ear endin 31st December 2023 3) Statement of Receipt5 and Payment5 and Assets and Liabilites Charit Number NIC 102663 Page I
Newtownards Ball alter Hol Trinit Down&Dromore Church of Ireland Statement of Recei ts and Pa ments and Assets and Liabilites for the ear endin 31st December 2023 Contents Receipts and Payments Account Statement of Assets and Liabilities Notes to the financial statements Page 2
Receipts and Payments for the year ended 31st December 2023 Unrestrict Restrictd Endowmnl Funds Funds Fund5 2023 2023 2023 Total Total Note 2023 2022 Recei Donations and plate collection Legacies Grants Proceeds from Fundraising Bank Deposit Interest Investment income Rental of Premisies Charity Collections refunds Receipts from Parish Organisatns HT choir Balligan Consort 55,305 3,390 58,695 56,343 1,510 13,026 4,731 1,120 5,851 9,678 2,165 419 10,097 2,165 4,799 600 10,202 3,220 1,572 219 4,799 600 600 86,690 Total Recei ts 72,479 9,728 82,207 Pa ments Wages and salaries Vicar Locomotory and Office Diocesan C05ts/A55e55ment Church Running Costs Glebe Costs Parish Hall Fabric Fund rental refund Admin Costs Insurances Charity Donations Payments from Parish Orgs HT Choir Balli8an Consort 43,069 1,299 7,056 6,550 893 3,320 743 43,812 1,299 7,056 8,544 893 3,320 9,132 39,825 1,588 7,176 5,035 886 2,388 1,321 2,000 1,079 4,946 2,297 669 934 1994 9,132 1,655 5,451 1,300 1,655 5,451 6,119 4,819 482 17,170 482 87,763 Total Pa ments 70.593 70,144 Excess of Receipts over Payments for the year before transfers 1,886 -7,442 -5,556 16.546 Transfers Excess of Receipts over Payments for the Year 1,886 -7,442 -5.556 16,546 On behalf of the Trustees Trustee I . Revd Sue Bell Trustee Z . Dr Marllyn Armstrong Pa8e 3
Statement of Assets and Liabilities as at 31st December 2023 Unrestrd Restrictd Endowmt Funds Funds Funds 2023 2023 Total Total 2023 2023 2022 Cash Funds Current Accounts Totsl Cash Funds 40,959 40,959 21.981 21.981 62,940 62,940 68,496 68.496 Investment Assets Investments in RCB Unit Trusts Holy Trinity Ballywalter St Andrew's Balligan Investments in CIT Unit Trusts Holy Trinity Ballywalter Total Investment Assets 119,306 102,652 0 119,306 115,829 102,652 99,660 119,268 341,226 119,268 113,986 0 341,226 329.475 Assets retained for the Parish's own use Minor Hall Vicarage Total Fixtures and fittings 7,014 173,000 14,637 7,014 7,021 0 173,000 173,000 14,637 14.652 Total Assets retained for the Parish's own use 194,651 0 194.651 194.673 On Behalf of the Trustees Trustee I . Revd Sue Bell Trustee 2 . Dr Marilyn Armstrong Date Page 4
Note to the Financlal Statements for the year ended 31st December 2023 l. Accounting Policies Set out below are the principal accountin8 policies which have been adopted in the compilation of the Receipts and Payments Account and the Statement of Asset5 and Liabilities (a) Recelpts and Payments Account All items of income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basis {b} Statement of A55ets and Llabilitles (i) Assets retalnedfvr the Porish's own use The assets of the parish, retained for its own use comprise".- Church buildings and Garden of Remembrance Graveyard at St Andrew's Balligan Parochial Hall and Minor Hall Vicarage Fixtures and Fittings The church buildlngs, Garden of Remembrance and Graveyard are deemed to be Heritage Assets a5 defined by the Charities SORP {FRS102). These Heritage Assets are not not included in the Statement of Assets and Liabilities 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 Parochial Hall was built in 1849. Originally the Schoolhouse, it became the church hall hall in 1932. There are no reliable records for the cost of construction and valuation. The valuation approach for such a buildin8 lacks sufficient reliability. As a result this buildinE is not recognised in the parish statement of assets and liabilities The Minor hall was erected in 1976 and is recognised at cost of construction. It was extensively refurbished 20 years ago. Depreciation has been provided on the Minor Hall building at IO% over a period of 10 years The Vicarage was purchased in 2013, and is reco8ni5ed at purchase cost, being the estimated fair value of the property at 01/0912013. No depreciation has been provided a5 the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years Fixture5 and fittings in the churches, apart from the Sound System,keyboard and screens deemed to be heritage assets as recogni5ed by the Charities SORP FRSI102) They are not included in the Statement of Assets and Liabilities as information on the cost or valuation is not available and such information cannot be obtained Page 5
Notes to the financial statements for the year ended 31st December 2023 (cont) (i)Assets retainedfor the Parish s own use Icont) Fixtures and Fittings are recognised at cost and are depreciated on a straight line basis at IO% over a period of 10 years (li) Investments Fixed a55et investments comprising investment in RCB/CIT unit trusts are initially recorded at cost and are then subsequently stated at fair value at each year end date 2. Reconciliation of Cash Funds Total Cash Funds at Beginning of the year Receipts for the year Payments for the year Total Cash Funds at end of the year 68,496 82,207 87,763 62,940 Page 6
Notes to the financial statements for the year ended 31st December 2023(cont) 3. Movement in Funds AtlJan Incoming Outgoin8 2023 Resourtts Resources Transfers At31De 2023 Restricted Funds Flower Fund Fields of Life Fund Sunday School Fund Restricted fabric Fund Restrirted Gen Fund Holy Trinity Choir Fund Balligan Consort Fund Total 300 1,878 87 5,212 4,261 300 1878 87 132 5,591 2,632 7,096 7,712 5,766 482 12.220 482 8,170 9,728 13.778 Unrestricted Funds Designated Fabric Fund General Fund Deposit Account Total 20,219 36,057 9,000 70,593 11,219 37,943 72,479 56,276 72,479 79,593 49,162 Total Funds 68,496 82,207 87,763 62,940 Pur oses of Restricted Funds Flower Fund.. This is a fund to provide flowers for display during seNices of worship Fields of Life Fund: This is a fund to SUPPOrt Fields of Life Building Projects in Africa Sunday School Fund: This is a fund raised by collection and fundraising events to provide materials to support the Sunday School. The Trustees will also designate unrestricted funds when required. Restricted Fabric Fund." These are funds raised or donated specifically for the roof repair fund, church rewiring and organ repair fund in Holy Trinity The trustees will also add funds from the designated fabric fund as required Holy Trinity Choir Fund: Closed by agreement with the remaining choir members Balligan Consort Fund: This account closed on the retirement of the Balligan Consort Pur oses of Des1 nated Funds Fabric Fund: The trustees have set aside funds for the Maintenance and repair of the church property Page 7
Notes to the financial ststements for the year ended 31st December 2023 4. Collections for Third Partle5 2023 2022 Bishops Appeal Tear Fund Ywam Christian Aid Charity Jar (unrestricted) 1850 155 487 810 1,010 55 1,552 Total 4,819 4A. Charity Allocations from church funds Total 1.300 { This is a surn allocated annually by the Trustees to add to the charityjar collection, to support a number of charities not included in Collections for third parties.) 745 The above amounts have been included in Receipts for the year under"CharFty collections and in Payments for the year under'charity Donations" 5. Transartions wlth the Trustees The parish paid expenses of £893 (ground rent, rates and boiler) relating to the running costs of the vicarage which is occupied by the vicar. No trustee received any remuneration or reimbursement of expenses during the year, except for the incumbent who received the following payment5 Stipend.. £35,124 (less national insurance. vicar's pension contribution and income tax); Locomotory expenditure of £765.69 and office expenses of £532.83 The Vicar's husband 15 a member of the select vestry and therefore a trustee. He did not receive any expenses from the parish No other 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 6 Governance Costs There were no governance costs incurred during the year Page 8