Parish of All Saints, Loughguile
Trustees’ Annual Report and Statement of Receipts and Payments and Assets and Liabilities
For the year ended 31[st] December 2024
Charities Number: 102898
Parish of All Saints, Loughguile
Annual Report and Financial Statements for the year ended 31[st] December 2024
| Contents | |
|---|---|
| Pages | |
| Trustees’ report | 1-4 |
| Independent Examiners Report to the Trustees | 5 |
| Receipts and payments account | 6 |
| Statement of assets and liabilities | 7 |
| Notes to the financial statements | 8-10 |
Receipts and Payments Account for the year ended 31[st] December 2024
| Note | Unrestricted Funds 2024 £ |
Restricted Funds 2024 £ |
Endowment Funds 2024 £ |
Total 2024 £ |
Total 2023 £ |
|---|---|---|---|---|---|
| Receipts Donations & plate collection Proceeds from Fund Raising Events Legacies Bank & Deposit interest Investment income Rental of premises Sale of assets Sale of investments Grants Receipts from General Trustees Other Receipts Receipts from Parish Organisation’s Total Receipts Payments Wages and Salaries Diocesan Costs/Assessment Church Running Costs Glebe Costs Parish Centre Costs Administration Costs Fundraising Costs Charitable Donations Payments from Parish Organisation’s Total Payments Excess of Receipts over Payments for the year before transfers Transfers Excess of Receipts over Payments for the year |
12,061 2,533 - 127 349 - - - - - 750 - 15,820 8,081 3,034 5,004 - - - - 302 - 16,421 -601 - - |
- - - 0 - - - - - - - - 0 - - - - - - - - - - - - - |
- - - - - - - - - - - - 0 - - - - - - - - - - - - - |
12,061 2,533 - 127 349 - - - - - 750 - 15,820 8,081 3,034 5,004 - - - - 302 - 16,421 -601 - - |
11,519 77 - 109 525 - - - - - 1,500 - |
| 13,730 | |||||
| 8,328 3,096 4,592 - - - - 288 - |
|||||
| 16,304 | |||||
| -2,574 | |||||
| - | |||||
| - |
On Behalf of the Trustees Trustee 1 Rev. Chris Easton Trustee 2 Honorary Treasurer – Mr. Stephen Christie
All Saints, Loughguile (2024)
1
Statement of Assets and Liabilities as of 31[st] December 2024
| Unrestricted Funds 2024 £ |
Restricted Funds 2024 £ |
Endowment Funds 2024 £ |
Total 2024 £ |
Total 2023 £ |
|
|---|---|---|---|---|---|
| Cash Funds Current Accounts Deposit Accounts Total Cash Funds |
6,139 - 6,139 |
- - - |
- - - |
6,139 - 6,139 |
6,740 - 6,740 |
| Investment Assets Equity Investments Other Listed Investments Investments in RCB / CIT Unit Trusts Other unlisted investments Investment Properties Total Investment Assets |
- - - - - - |
- - - - - - |
- - 583 - - 583 |
- - 583 - - 583 |
- - 583 - - 583 |
| Assets retained for the Parish’s own use Parish Centre Glebe House Fixtures and Fittings Total Assets retained for the Parish’s own use |
- - - - |
- - - - |
- - - - |
- - - - |
- - - - |
On Behalf of the Trustees
Trustee 1 Rev. Chris Easton Trustee 2 Honorary Treasurer – Mr. Stephen Christie
All Saints, Loughguile (2024)
2
Notes to the financial statements for the year ended 31[st] December 2024
1. 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 retained for the Parish’s own use
The assets of the Parish, retained for its own use comprise:-
-
Church Building and Graveyard
-
Parish Centre Portacabin
The Church Building and Graveyard are deemed to be Heritage assets as defined by the Charities SORP (FRS102)
These Heritage assets 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 at a cost commensurate with the benefit to the users of the accounts and to the parish.
The Parish Centre Portacabin
- Was acquired in 2012. There are no reliable records of the cost of acquisition and 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.
ii) Investments
Fixed asset investments comprising investment properties, investments in equities (ordinary shares) and investment in RCB/CIT Unit Trusts are initially recorded at cost and are then subsequently stated at fair value at each year end date.
All Saints, Loughguile (2024)
3
Notes to the financial statements for the year ended 31[st] December 2024 (continued)
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 |
£ |
|---|---|
| 6,740 15,820 -16,421 |
|
| 6,139 |
3. Movement in Funds
| Endowment funds Restricted funds Maintenance Fund Decoration Fund Unrestricted funds General Fund Total funds |
At 1 Jan 2024 £ - - - - - 6,740 6,740 6,740 |
Incoming Resources £ - - - - - 15,820 15,820 15,820 |
Outgoing Resources £ - - - - - -16,421 -16,421 -16,421 |
Transfers £ - - - - - - - - |
At 31 Dec 2024 £ |
|---|---|---|---|---|---|
- |
|||||
- |
|||||
- - |
|||||
- |
|||||
6,139 |
|||||
6,139 |
|||||
6,139 |
Purposes of Endowment Funds
- None held by Parish, all held by Independent Trustees.
Purposes of Restricted Funds
- None held
Purposes of Designated Funds
- None held by Parish.
All Saints, Loughguile (2024)
4
Notes to the financial statements for the year ended 31[st] December 2024 (continued)
4. Collections for Third Parties
| Field of Hope Collection | 2024 £ 602.50 602.50 |
2023 £ |
|---|---|---|
| 77 | ||
| 77 |
The above amounts have been included in Receipts for the Year under 2024 and in Payments for the year under 2024.
5. Transactions with the Trustees
Mrs. Melanie Dougherty received the sum of £1,040.00 for the provision of organist services.
Mr. Gareth Christie received the sum of £780.00 for grounds maintenance and sextons duties.
The Parish is responsible for payment of 16% of the Rectors stipend, administration and locomotory expenses.
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.
6. Governance Costs
Governance costs of £Nil were incurred during the year of which £Nil relates to fees paid to the independent examiner. Governance costs are included within Administration costs in the Receipts and Payments Accounts.
All Saints, Loughguile (2024)
5