Newtownards Ball alter Hol Trinit Down&Dromore Church of Ireland Trustee Re ort and Statement of Recei Assets and Liabilities ts and Pa ments and for the ear endin 31st December 2024 3) Statement of Receipts and Payments and Assets and Liabilites Charit Number NIC 102663 Page I
Newtownards Ball alter Hol Trini Down&Dromore Church of Ireland Statement of Recei ts and Pa ments and Assets and Liabilites for the ear endi 31st December 2024 Contents Receipts and Payments Account Statement of Assets and Liabilitie5 Notes to the financial statements Page 2
Receipts and Payments for the year ended 31st December 2024 Unrestrict Restrictd Endowmnl Funds Funds Funds 2024 2024 2024 Total Total Note 2024 2023 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 49,115 23,803 1,490 50,605 23,803 58,695 5,112 4,503 9,615 5,851 10,255 1,890 419 10,674 1,890 2,277 762 10,097 2,165 4,799 600 2,277 762 Total Recei ts 90,175 9,451 99.626 82,207 Pa ments Wages and salaries Vicar Locomotory and Office Diocesan Costs/Assessment Church Running Costs Glebe Costs Parish Hall Fabric Fund Admin Costs Insurances Charity Donations Payments from Parish Orgs HT Choir Balli8an Consort 43,422 1,660 6,864 6,964 934 2,126 3614 47,036 1,660 6,864 6,964 934 2,126 3,593 1,329 5,788 3,277 43,812 1,299 7,056 8,544 893 3,320 9,132 1,655 5,451 6,119 3,593 1,329 5,788 1,000 2,277 482 87,763 Total Pa ments 70,087 9,484 79,571 Excess of Receipts over Payments for the year before transfers 20.088 -33 20.055 -5.556 Transfers Excess of Receipts over Payments for the year 20.088 -33 20,055 -5,556 On behalf of the Trustees Trustee I . Revd Adrian Green Date 11~ (W Trustee 2 . Dr Marilyn Armstrong ryl- G . (kn Date 11" £1*r Page 3
Statement of Assets and Liabilities as at 31st December 2024 Unrestrd Restrictd Endowmt Funds Funds Funds 2024 2024 2024 Total Total 2024 2023 Cash Funds Current Accounts Total Cash Funds 37,511 37.511 45,484 45,484 82,995 82,995 62,940 62,940 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 121,521 104,558 121,521 119,306 104,558 102,652 130,759 356,838 0 130,759 119,268 0 356.838 341,226 Assets retained for the Parish's own use Minor Hall Vicarage Total Fixtures and fittings 6,944 173,000 14,491 6,944 7,014 173,000 173,000 14,491 14,637 Totsl Assets retained for the Parish's own use 194,435 0 194,435 194,651 On Behalf of the Trustees Trustee l .' Revd Adrian Green Date 21-Ar( 201 Trustee 2: Dr Marllyn Armstrong m . &. Date Page 4
Note to the Financial Statements for the year ended 31st December 2024 l. Accounting Policies Set out below are the principal accounting policies which have been adopted in the compilation of the Receipts and Payments Account and the Statement of Assets and Liabilities (a) Receipts 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 Assets and Liabilities (i) Assets retainedfor 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 buildings, Garden of Remembrance and Graveyard are deemed to be Heritage Assets as defined by the Charities SORP (FRS1021. 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 H311 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 building lacks sufficient reliability- As a result this building 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 recognised at purchase cost, being the estimated fair value of the property at 01/09/2013. No depreciation has been provided as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years Fixtures and fittings in the churches. apart from the Sound System,keyboard and screens deemed to be heritage assets as recognised by the Charities SORP FRS{1021 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 2024 (cont) li)Assets retainedfor the Parish s own use (cont) Fixtures and Fittings are recognised at cost and are depreciated on a straight line basis at IOYO over a period of 10 years (li) Investments Fixed asset 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 Fund5 Total Cash Funds at Beginning of the year Receipts for the year Payments for the year Total Cash Funds at end of the year 62,940 99,626 79,571 82,995 Page 6
Notes to the financial statements for the year ended 31st December 2024{cont) 3. Movement in Funds At l Jan Incoming Outgoing 2024 Resources Resources Transfers At 31 Dec 2024 Restricted Funds Flower Fund Restricted fabric Fund Restricted Gen Fund Holy Trinity Choir Fund Balligan Consort Fund Total 300 7,712 5,766 300 8,622 4.823 4,503 4,948 3,593 5,891 13,778 9,451 9,484 13,745 Unrestricted Funds Designated Fabric Fund General Fund Total 11,219 37,943 49,162 23,803 66,372 90,175 35,022 34,228 69.250 70,087 70,087 Total Funds 62,940 99,626 79,571 82,995 Pur oses of Restricted Funds Flower Fund: This is a fund to provide flowers for display durin8 services of worship Restricted Fabric Fund: These are funds raised or donated specifically for the church rewiring and organ repair fund in Holy Trinity The trustees will also add funds from the designated fabric fund as required for repairs al Holy Trinity and St Andrews Balligan Holy Trinity Choir Fund: Closed by agreement with the remaining choir member5 Balligan Consort Fund: This account c105ed on the retirement of the Balligan Con50rt Pur oses of Desi nated Funds Fabric Fund: The trustees have set aside funds for the maintenance and repair of the church property Page 7
Notes to the financral statements for the year ended 31st December 2024 4. Collections for Third Parties 2024 2023 Bishops Appeal Tear Fund Ywam Christian Aid Bishops Ministry Fund Charity Jar (unrestricted) 1850 155 2000 814 1002 275 Total 2,277 4,819 4A. Charity Allocatlons from church funds Total 1,000 l This is a sum allocated annually by the Trustees to add to the charity jar collection, to support a number of charities not included in Collections for third parties.) 1,300 The above amount5 have been included in Receipts for the year under Charity collections" and in Payments for the year under Charity Donations" 5. Transactions with the Trustees The parish paid expenses of £934 (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 Revd Sue Bell who received the followins payments £19,422 net stipend, and £825 locomotory and office (Jan to September 20241 and Rev Adrian Greei who received net Stipend £5,385 and locomotory and office £835 (November and December 2024) The Revd Bell's husband was a member of the select vestry until Revd Bell's retirement 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