Charlly ReglBlratlon No. 102902 PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Ill" PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW BALANCE SHEET AS AT31 DECEMBER 2022 2012 2021 Flx•d aBi8ts Tanolble 888818 In¥BBtrneni prop￿1108 ￿n￿81m￿nIS 10 11 401.2D7 466,000 888,79S 382,087 486,000 973,902 1.753.082 1,820,9S Curnnt 8980ts Dablor8 CoBh al bank and In hand 14 646,2B8 763.062 563.464 736,OOS 1.2D8N30 1,209,467 Crodllorn: llmDUnt• falllng dufy wllhln ono y•Ar 16 11.6401 11,744) Nèt current as￿1￿ 1.296,790 1,287,713 Tolal Ns8•ts lo•• ¢uironl Ilablllllo• 1049.071 3,108,882 G4pltal fund• Endowment fund* Incomo fundi Gonoral re8lrf¢ted fundg R8vAluaUon merv• 466.679 631,932 1,092,033 250,1100 1,106,842 260,OOD 1A42,033 204,262 1,037.908 1,356,842 129,7eS 1,090,143 Unreitflcted lund•- de￿Onated Unr851rlcled fundB- ggneral 3,049,872 3,100,862 Thw Ilnand•l 8labm8nts were gpprovod by Iho se18￿ V88try on 28 IAarch 2023 John Wlsener Thi$ioB A Roblneon 1Q- PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollcl85 Chnrlty Informatlon ParlBh ol Co18r¥lrw is an unlncorpnraled enllly goveriied by a Con5tllulS0n, 1.1 Accountlng convenllon Tlittse accounts have bèen proparvd in a￿rdan¢V wilh FRS 102 Thie financial Repr)rllng Slandllrd appllcJbl& in Ihv UK and Republlc of Ire18nd' I'FRS 102"). 'Accounllnu aiKJ Reporllng l)y Cliarilles" tho Slalemonl ol Recommended Piacllc8 loi cl)arilies applylng FRS 102, the Ghdrllles Act (Nofllioiii littland) 2008 and UK Gvn8rally ALceplèd Accounllnu PraLlice as il appllos from 1 Janutiiy 2015. Tho PJr19111s PutJll¢ Benelil Enllly a8 dellned by FRS 1 D2. TIIEI 1Snanclal sl8leinenls hBvo dupHrted from Ihe Cl)Rrilles (Acc￿1n¢S and Reporls) Regulallons 2008 unly lo Ihrj exlenl requirpd lu provlde a Iruo and lalr vlew. Thls d&parturo has Involv8d followlntj Ilie Slalomonl ol Rocommended Pracllco for charlll95 Hpplyino FRS 102 rathèr than Iliu vefsion ol Iliu Slalgm8nt ol Recommendèd Practlco wlilch 16 relerred lo In li￿ Regulallons bul wl)Ich has slnce b89n wluidrawn. Th8 finandBI slalemenls afe prepared kn slerllng. whkh Is Ilie luncllonal Cuif8ncy ol Iho Polish. Monolury amounls In Ih&se financlal 61alemenls 8r8 founded lo lh& nearest £. The flnonclGI slalemonls h8V8 bèen WOP8fed undef Ihe hhslorlcal c081 col1ven￿On. Imodllled lo Includu 1119 i&valv¢illon of Ireehold prDporlles and lo Include Inveslm8nl prop&rti88 and corl8iN Iliiandol In6lrum8nls al falr value]. The PTinclpo1 accountlng pollcles adopled arts s81 out bolow. 1.2 Golng concorn Al the lirwi& of approvlng Ilie Ilnand81 s181emanlB, Ihe Selecl Ve51ry1)yve 8 roasonable ¥xpeclallon Ih¢il 11)& Parlsh Adequole resources lo conlli)u8 In oporalS01)al exlstofico lor the foreBoBoble luiure. Tliii¥ Ihe Selecl Vestry CDntlnue to adopl the golng concern basis of accuunling in prcpBring Iho IlnanGinl &lnleinei)Is. 1.3 ChBrltable funds unreslrir.led lunds aro avallable for UB8 al Ilie dlscrollon ul Ilie Selocl Veblfy In lurihoionco ol Ihelr cliaFllablu oblectivos. Da8lgnated lunds 8re unreslrlcled fund& sol asldp for 8 speclfic PUfPOSe. Reslrii:led lunds ar8 suI)lÈttt lo speclllL' Lundlliong by doriors as lo lir)w they may bo used. Tha PUfP068s Bnd uses of the reslricled funds are seL oul In11)() iiot88 lo Iho fliiaiicigl slalnmenls. Endowmenl lunds are sublecl lo speclllc cundilions by donors Iliat Iho capllal must be malnlalned by Ihe PBrl$h. 1,4 Incomlny resoiircos Incorno is recognisod when lh8 Parisli15 legally enlllled ¢011 after any perform8ncp conijilluris liavo boon myl. Ihe amoun18 cai) be me85ur¥d reltably, and 51 is probable lh811i)como wlll be recefved. Cash donalions OTe recDgnl%ed on recelpl. Olher don8llons hre recognlsed once the Parish has been noiifiod of Ihv don81ion, unless perlormance condlltons requlre delorrol ol Ihe amounl. Ii)rA)Ine 18x ro¢ovorHble In relation lo donBlion5 rocelved under Glll Ald or deads of covenanl Is rocognls8d 81 the Ilme ol Ihe donalloii, Legocies arv recognlsed oh ieceipt or D1he￿ISe1t tho Parlsli has b98n nolllied ol an Impendlng disirlbullon, Ihe amount Is known, and roLeipl is oxpacled. 11 the afflount 15 nol known, Ihe legacy Is liealed 8s a conllnggnl 8559t, 11 PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollcles IContlnuvd> 1.5 RtrsourGQ5 oxpended Those accounls lor the yoar onded 31 Deceinber 2022 for tho Parfsli of ColoralnL. are propafed In accordance wilh FRS 102, The Flnuncial Reporllllg Slandard appli¢able in tho UK and Republli-. ()1 Iroltind, 1.6 Tanglble flxed assels Tangibltt Ilxed ussels are Inllially ii1806ured al cost and subsequenlly measur811 at COBI or valuatlDn. nel ol dapreclallon 8nd any Impol￿nen1 losses. Deprociallon Is recognlsed so as lo wrlle off the cosl ￿ valualion ol asset8 less Ihelr residuol vnliJ(*s Over Iholr U5¥1ul Ilvos on th8 lollowlng boses. Frog1)old land and bulldlng Flxturos and fillings Nll 6%. 10%, 1S% and 20% redudng b818nco depending on11)e a5581 Thc gAln or ID%G arSslnq on Ihe dlsposal of An a&801 Is determlDed as tho dllferenc9 botwtsen lh8 salts proGoods and 11)0 Lairylng valuo DI lh& assol. Jnd Is ToGognSsed In Iho slatemenl of IlnHncl818CtlvlllDy. 1,7 Invè8tmont prapertlos lnvesl1￿ÈnI properly. which 15 property held lo eam renlals andlor lor capllpl Ewpraclgllon, wftrts acqulred many years ago,11 Is not Posslblo lo oblaln ill) accur81e cosl. These propp.rli8s aro includftd In Iho ¢1C¢DLinls al Iha 8sllmNled mafkel vBlup.s. The siiiplus or d8ficll on revalualkjn Is recognised in Ihe Staleinenl ol finBnclal ALllviti&8. 1.B Flxod asset InvgBtments Fixed Ei4sel Inv8slmeiils are Inlllally measured al IfanBacllun prlce oxclucllng IranBBLIiDn costs. lind @ro subsequenlly Ine8surod gt lalr valiiu al g8ch roporlinp dalo. Cli8ngos In IHir valug are recoAnisod In 118l incuinel(exp8ndilure> for Ihu ygai. Transactiun C￿sIll are expensod lis incuffed. 1.9 Impolrment of flxod 8S8el6 Al each reporling end dale, the Prirlsli revlgws 11)e carrylng ¥Jmounls of Ils langlblg aqsols to tlolurmlne whtsll)er Iherr. Is any indicallon thal Ihose assels hilve surferod ali Impalrnioiil Ios8. If dlly Nu¢h Indlr.iilloii exitsls, Ilie iecovoi8ble amoiinl Df Ihe ciS50118 esllmaled ii) ordur lo dèlermlno tho axlenl of Ilici Imp8lrmoiil IOBS (if any). 1.10 Ca81) 1t nd casli eqiilvalcnts Lash rjrid cgsh equivalenls Include c8gh In liand, doposlls held DI call wilh banks. other BhDrl.lorm Ilquld bnvo51ineiils wilh orlgin21 malurillos of Ihreo m()nlhs or Ioss, And bank overdr8115. Bank overdralls are sl)owii wllhln borrowlngs In currenl Ilabllille5. 1.11 Flnanclal In5trumDnts The Parish has eleclod lo apply Ihe provision5 01 Section 11 'B8sic FinonciHI In8tniments' and SocllDrb 12 'Olher FinanclFJI Instrumpnls Issues, of FRS 1cr2 lo pll of its flnDnclal Instrumeiils. Flnanclol Insliumenls arè recoonised In Ihe Phrish's balaiice sh801 when the Parlsli becomos pnrly lo tho contractual provlBIonB Df Ihe inslrumont. rinanrlal 8sse15 nnd Ilabllllios ale offsel, vAth the nol 8mounts prosonled In 11)ft Ilnanclal xinlpinenls. whijn Ihero Is a legally Bnlorceablg Ilght to Sg1 olf Ihfi iecogr)18oiJ anioiinl8 2nd Ihofo Is on Inlenllon lo s&lllts ori ¢1 n81 basls or lo realise Ilie asset and selile th(J Ilabiliiy slmullai)eously. 12- PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounllng pollcles Icontlniiod) Baslc Ilnanclal u5s•ts Basic linwnclal a83e15, whlch inGludu tleblois and eash l¢nd hank baleinces. 3r9 Inb11rJlly m8asiir(Jd Ét Irai)8aclion prir.e Includlng 118nsaclior) cosls and are subseqlionlly carrled al 8morlisod cosl uslrig Ilie effccllve iiileresl me.lhod unloss Ilie arrangerneiil conslllules a linandng Iran8aCtk)n. wheTe tho Irunsocllan Is measured dt Ihe prosenl value ol tho lulufe rocelpls dls¢wnled al B fflafket rAtÈ ol Inleresl. Flnanolal asse18 classi1Sed a5 ieceivablo wllliln one year are nol amorlised. 88slc flnanclal Ilablllelès B?q slc financlal Ilabilllles, Indudlng ciedllors and bank IDtsns are Inllially recognlscd 81 Iran5EILlloi) prlco iiiile&s tho Arrangemonl ronslllules ir Ili)anciDg Ircinsficlion. whore the dBbl Iiistiumenl Its measurud the prft8onl valuo of the luluro paymenls dlscouDled al D m4irket ralo ol Inlere51. FlnDiieial Ilablllllps c188slllod 98 payablo wilhln ono yoar are nDI amortlsed. Debl inslrumonls are subBefjuenlly carrled al am(¥ilsed cosl, u8lng Ihp. ett8cllve Inlvresl ralp molliod, Trade crodllurs are obllg¥lions to Piiy l(Ir or %ervlc65 IliHI I)Av8 bgftn ar.qulr8d In th& ordlnary cnursf> or op8ralions from Muppliers. Amoun18 pHy#bl8 aro clas5illed as ￿lIr￿n1 liablllllf)4 11 paymuiil IA duo willilii (Iii ygclr or less. If nol, Iliey are prtss&nt8d ¢lS non-curr8nl liabllllles, Trud2 crodilix5 ftro rocoonlsvd InlllAlly ul Ifani¥aGllon price and ¥ubseouenlly m8asured al 8morlisod cosl uslno Iho effecllve Inlei¥st m8lh(xl. DerecognltlDn of flnJnclal118bllJllés Fliiai)clal Ilabllllies afe dcrecopnised wlien Ihe Paflsh's conlraclual obllo8llon& explro or 8rè dlscliprged or ¢ Sliare of govÉ>rnance {seg note 61 19,9111 2,400 26,921 2,400 1fj0,501 147,641 Analysls by lund Unrp8lrlclod funds - goneral Unreslrltilvd funds- d6signaled Rtsslrlcled lund5 131,58G 27,390 1,52S 121,G3G 25,805 200 147,641 For the yo8r ei)ded 31 Decembor 2021 Uniftslficled funds- qonoral Unre5tricled lundb - deslgnalod Reslflcted fuiids 121,636 25,805 200 147.641 15- PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Support costs Support Govornance ¢05ts costs 2022 2021 Botsls of allocfjtlon Slafl L()sl8 Book-koeplng Rviil & rates Admlni%lr8llun c0515 Ge.iieral expen4(*s LeDal rjnd prol&sslonal 17,980 1,229 17,9BO 1,229 1B.683 4,051 594 3,593 2,4W Governancu 709 709 2,400 2,400 18,918 2.400 22,318 29,321. ADalys&d b8twèen Cliarllablo acllvllies 19,D18 2.400 22,318 29,321 G()vernanco costs Iiicludes paymonls to Iho indtspend8nt examlnei 01 £1,600 12021- £1,13UO) for oxHinliialion foos. Solect Vestry One of tho GlftbÈ WaTden8 provlded gardenlng aiKI bulldlng sgrylces to lh8 Parltsh durlng the yoNr, pnymenls made amounlod lo £2.330. Nono of the other S8lorl Ve$lry lor Jny person8 conn(Jrlpd wllli Ihoml recclv¥d any r6mun&ration or boneflls Irom Ih? Parlsh duiino tho yftar. 16- PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Employees Numbèr of employees Tho 1r VQIE4ue rnonlhly number employ&¥S during IhETr yoar wa8: 1 2022 Numbor 2021 NumbBr Adminlslrir Ilon Piomlses malnlcnanc& 2021 Employment costs 2022 14,664 1.695 10,841 Wos)Ob Vjiid s8lar185 Social 58curlty cosi8 Other pension cosls 15,418 1,821 10,757 27,99 27,200 Tho Rcclorfs salary has been pBld by Ihtt Dloceso Blnce March 2020. Thè Parish nlDy b6 roqljlrcd lo repay Ihe DIoc050 lor Ihe amounls il h8B IncurrTrd. Thg Seled V&slry eBtlmalos Ihal up lo 31 Dacembpr ?0?.?. Ihl8 coijld amount lo £123,000. As thlb Is u Con￿ngent Ilablllly. Ihls pol&iilial cost haB nol beèn Included es Sn ftxpense. howover, lund8 havo been deslgnir led by the Solocl Veslry shoukl fepaymonl be requirad. Thef8 Wofts no em￿0y805 wl)rJse anrnial remunerallon was £60,OOD or more. 17 PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 10 Tanglblv flxed as%OtB Freehold Imnd Flxlurou Dnd Jnd bulldlng$ Tolol Cost Al 1 Jaiiuary 2022 Addlllons 318,042 18,BOO 120,7G5 8,070 438,B07 26,870 At 31 Decombor 2022 336,B42 128,835 465,677 Dopreclallon and Impairinent Al 1 J8nuary 2022 Doprccipllon charged In Ihe year 66,740 7,650 56,740 7,650 Al 31 Oecombor 2022 64,300 64,390 Carrylng amount At 31 December 2022 336,042 64,445 401.287 Al 31 Docembor 2021 318.042 64,025 31J2.067 The church bulldlnqs, of Sl P¢ilrlck lind Sl AiidTew, And the gr2v6yard 3re deomttd lo bTr Hf)flliigo Bs8t)18 AS dp.fiii8d by Ihe Ch81illes SORP IFRS1021- Th050 Hvrlliiyu i)ssels are not Included In 1119 balanco s1i0o118 liinglblii iJs$el8 as Inlormallon on Ihe cost or valiiallon15 nol avr)jlablts Biid sucli Inloimslion cannol bo oblalned Al i) (J)81 r.ommonsurale wllh Ihè benelll lo the users of Ihe accrninls Hnd lo Ili& purlsl). 11 Inveslmont proporty 2022 Falr value Al l Janiiaiy 2022 and 31 December 2022 405,OOD Inveslmenl proper1106 comprlsotl housas Al 27 WlllowllÈld Drlve, 18 Avonbrook C¥HTdons n(149 AvDnbif)ok Gardeiis. Th&181r value of Ihg InvoBlmenl propuillob are based ow) the estlmated market valiio.. £140,OLX) Roslrlcled Ubyel us vvsled wilh RCB £175.000 £150.000 27 Wlllowllold DrN 111 AvonbroDk Gcjrdons 49 Avonbrook (>arden 2022 2021 Ffaehold Lung leasel)old Short lea5Bhold 4G5,000 465.ODO 19- PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 12 Flxed asset Invostmonts Llslad liivo8lmont% C05t or valuatlon Al 1 January ?022 Addlllons VAlualion Ch￿n￿&S 73,902 5,03G (92,143) {Seg nolu 9) 8B6,79 At 31 Decombor 2022 Cairylng amount Al 31 D(4cembor 2022 8B6,795 D73,902 Al 31 December 2Q21 2022 2021 13 Flnanclal Instiumonts Carrylng amount of flnanclal assots Inslriimenls mÈ8sured 81181r value through prolll or1088 886,795 973.PD2 14 Debtors 2022 2021 Amounts falllng diio wlthln one year: 19.638 525,730 19.63r, 6ry3,L116 Trad(4 dp.blors Olher doblorb 546,368 553,451 15 Loan5 and ovordrafts 2022 2021 22 Credll cJrd 22 1211 Payable wllhln one year PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 16 Crodllors: amounts falllng due wlthln one year 2022 2021 Nolos 22 1,618 12g Credil card Olhur credllors 15 1,040 1,744 17 Rotlreffl8nt b8nefSt schemas Doflnod contrlbutlon schomes The Parish opvralp8 a definBd LX)i)Iflbulion por)sloii scheme lor 811 qualitylng omployees. Tho ab6e15 01 the 6clihma aT8 held sftpAralely from Ihosg ul Ihe Paiish In ial) IndBpendonlly 8dmlnislfJiod fiii)d. Tli8 c17argo lo prolll or IoB8 In r?spftcl ol d8fin8d conlributson schomes was LI0,7fJ712021- £10.8d1). 18 Analysls Df not assets betwoon funds General 0otslgn8ted Rostrlcted Endowment Total Fur)d bal8ncos al 31 D8cembeT 2022 lire r8pr05enlod by.. Tanoible assels Invo&lmenl proportles Inveslmunls Currenl a6selsl(118bllilles) 336,842 140,000 421,115 444.075 401,2d7 465,000 886,74J 1,296,790 64.44S 325,OOD 465,680 648,483 204,252 1,037,908 204,252 1,342,032 465,6110 3,049,672 10 Rolatgd parly transactlons Th& Parlsh and Klngsgale Renewol Llmllod 8r8 under commn control, wllli Ihe majorliy r)f Ihii dlreclor6 01 Ilip coinpany Dl50 IruÈloes of IhD c.harlly. Klngsg&ryle Rènewal Llmllp.d own6 tho prnperlles. as noniliiee lor tho Parlsh, Irom 6 10 14 Klngsg81e SlrLAèI, Coleralnv. log&llwr wilh Iho car paik bg171iiil I1￿ proporlios, wlilch Is acc0s8pd Irom Brook SlreeL Tha Pailsh us8s the properlles Irom limo lo lime, for whlch Klngsgate RanTrwAI Llmllod churgHs a nomlnal rvnl. LO￿￿5 h3ve been mridg lo King6gcile Reiiewal Llmllnij by tl18 Par15h. Ihe belancc oulslan(Sing 81 Iho yoAr (jnd is detailed as 'Olher doblors, al note 1Jf of Iliese abcounls. 21 PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 20 Cash goneratod fiom operallons 2022 2021 IDeficlt)Isurplus lor Ihe year {58,810 2116,030 Adlu8lmeiil4 lor.. Inveslmont Incom¥ rgcogni58d In wofil or108s Falr valuts galns and los¥tss on invoBlmBnt propeTIi08 ralr valuv umins and10sses on Investments Dppreclallon and Ifflp8irmnl of langlble fixed assoly 12B,050) lJfD,2LJ-I) 18 Jr,ooo) {114,g07) 92,143 7,650 Movemènts in W￿kIng capilal: (Increase>lde¢r88se In dnbtors Incraase In credllors 131 21 493 Cash genaratvd from operatlons 12,D33 43,722 -22-