Charity Registration 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 2025
PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2025
| Unrestricted | Unrestricted | Restricted | Endowment | Total | Unrestricted | Unrestricted | Restricted | Endowment | Total | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | funds | funds | funds | ||||
| general | designated | general | designated | ||||||||
| 2025 | 2025 | 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | 2024 | 2024 | ||
| Notes | £ | £ | £ | £ | £ | £ | £ | £ | £ | £ | |
| income from: | |||||||||||
| Donations and legacies | 3 | 150,542 | 104,279 | 2,200 | - | 257,021 | 154,727 | 24,812 | 1,810 | - | 181,349 |
| Charitable activities | 4 | = | - | “ | - | - | - | 392 | - | - | 392 |
| Investments | 5 | 28,634 | 15,867 | 14,569 | - | 59,070 | 23,172 | - | 9,784 | - | 32,956 |
| Total income | 179,176 | 120,146 | 16,769 | ~ | 316,091 | 177,899 | 25,204 | 11,594 | - | 214,697 | |
| Expenditure on: | |||||||||||
| Charitable activities | 6 | 141,449 | 121,458 | 245 | ~ | 263,152 | (125,889) | (293,713) | (208) | - | 419,810 |
| Other | 11 | “ | - | - | - | - | (1,085) | - | - | - | 1,085 |
| Total resources | |||||||||||
| expended | 141,449 | 121,458 | 245 | - | 263,152 | (126,974) | (293,713) | (208) | - | 420,895 | |
| Net gains/(losses) on | |||||||||||
| investments | 12 | - | - | 55,368 | 32,119 | 87,487 | - | - | 15,752 | 39,866 | 55,618 |
| Net incoming/(outgoing) | |||||||||||
| resources before | |||||||||||
| transfers | 37,727 | (1,312) | 71,892 | 32,119 | 140,426 | 50,925 | (268,509) | 27,138 | 39,866 | (150,580) |
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
| Net incoming/(outgoing) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| resources before | ||||||||||
| transfers | 37,727 | (1,312) | 71,892 | 32,119 | 140,426 | 50,925 | (268,509) | 27,138 | 39,866 | (150,580) |
| Gross transfers between | ||||||||||
| funds | (53,916) | 56,300 | (12,328) | 9,944 | . | (14,486) | 5,130 | 9,356 | - | - |
| Net movement in funds | (16,189) | 54,988 | 59,564 | 42,063 | 140,426 | 36,439 | (263,379) | 36,494 | 39,866 | (150,580) |
| Fund balances at 1 | ||||||||||
| January2025 | 987,114 | 172,877 | 1,405,811 | 543,813 | 3,109,615 | 950,675 | 436,255 | 1,369,316 | 503,947 | 3,260,193 |
| Fund balances at 31 | ||||||||||
| December2025 | 970,925 | 227,865 | 1,465,375 | 585,876 | 3,250,041 | 987,114 | 172,876 | 1,405,810 | 643,813 | 3,109,613 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW BALANCE SHEET
AS AT 31 DECEMBER 2025
| 2025 | 2024 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |||
| Fixed assets | |||||||
| Tangible assets | 14 | 388,081 | 393,266 | ||||
| investment property | 15 | 465,000 | 465,000 | ||||
| investments | 16 | 1,102,764 | 4,005,274 | ||||
| 1,955,785 | 1,863,540 | ||||||
| Currentassets | |||||||
| Debtors | 17 | 548,434 | 540,990 | ||||
| Cash at bank and in hand | 18 | 754,706 | 858,108 | ||||
| 1,303,140 | 1,399,098 | ||||||
| Creditors: amounts falling due within | 20 | ||||||
| one year | 8,884 | 153,025 | |||||
| Net current assets | 1,294,256 | 1,246,073 | |||||
| Total assets less current liabilities | 3,250,041 | 3,109,613 | |||||
| The funds ofthe Parish | |||||||
| Endowment funds | 22 | 585,876 | 543,813 | ||||
| Restricted incomefunds | 23 | 1,465,375 | 1,405,810 | ||||
| Unrestricted funds - general | 970,925 | 987,114 | |||||
| Unrestricted funds - designated | 24 | 227 865 | 172,876 | ||||
| 3,250,041 | 3,109,613 |
The financial statements were approved by the Select Vestry on AA He...
vénn Wisener Trustee
A Robinson Trustee
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 Accounting policies
Charity information
Parish of Coleraine is an unincorporated entity governed by a Constitution.
- 1.1 Accounting convention
These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Charities Act (Northern Ireland) 2008 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019. The Parish is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Parish. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
- 1.2 Going concern
At the time of approving the financial statements, the Select Vestry have a reasonable expectation that the Parish has adequate resources to continue in operational existence for the foreseeable future. Thus the Select Vestry continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3. Charitable funds
Unrestricted funds are available for use at the discretion of the Select Vestry in furtherance of their charitable objectives.
Designated funds are unrestricted funds set aside for a specific purpose.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Parish.
- 1.4 Incoming resources
Income is recognised when the Parish is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Parish has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Parish has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 1.5 Resources expended
These accounts for the year ended 31 December 2025 for the Parish of Coleraine are prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 Accounting policies
(Continued)
- 1.6 Tangible fixed assets
Tangible fixed assets: are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings Nil Fixtures and fittings 5%, 10%, 15% and 20% reducing balance depending on the asset
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Investment properties
investment property, which is property held to earn rentals and/or for capital appreciation, were acquired many years ago, it is not possible to obtain an accurate cost. These properties are included in the accounts at the estimated market values. The surplus or deficit on revaluation is recognised in the Statement of Financial Activities.
1.8 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.9 Impairment of fixed assets
At each reporting end date, the Parish reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.10 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.11 Financial instruments
The Parish has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Parish’s balance sheet when the Parish becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Parish’s contractual obligations expire or are discharged or cancelled.
1.12 Employee benefits
Termination benefits are recognised immediately as an expense when the Parish is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.13 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the Parish’s accounting policies, the Select Vestry are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumpiions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
3 Donations and legacies
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|||||||||
|---|---|---|---|---|---|---|---|
|Unrestricted|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|2025|2024|
|general|designated|
|£|£|£|£|£|
|Donations|and|gifts|142,119|10,220|-|152,339|157,306|
|Grants|received|-|-|2,200|2,200|1,810|
|Other|8,423|94,059|-|102,482|22,233|
|150,542|104,279|2,200|257,021|181,349|
|For the|year ended|31|December|
|2024|154,727|24,812|1,810|181,349|
----- End of picture text -----
4 Charitable activities
Other income
Charitable Income 2024 £ 392
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
5 Income from investments
| Unrestricted | Material | Restricted | Total | Unrestricted | Material | Restricted | Total | |
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | funds | |||
| 2025 | 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | 2024 | |
| £ | £ | £ | £ | £ | £ | £ | £ | |
| Rental income | 20,318 | - | - | 20,318 | 20,075 | - | - | 20,075 |
| Other income | 3,230 | - | 11,594 | 14,824 | 3,073 | - | 9,784 | 12,857 |
| Interest receivable | 5,086 | 15,867 | 2,975 | 23,928 | 24 | - | - | 24 |
| 28,634 | 15,867 | 14,569 | 59,070 | 23,172 | - | 9,784 | 32,956 |
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
6 Charitable activities
| Charitable | Charitable | |
|---|---|---|
| expenditure | expenditure | |
| 2025 | 2024 | |
| £ | £ | |
| Staffcosts | 51,305 | 233,590 |
| Depreciation and impairment | 5,884 | 6,671 |
| Cleaning costs | 5,689 | 5,875 |
| Caretaking& maintenance costs | 9,857 | 6,467 |
| Missions& othergroups | 25,290 | 24,073 |
| Repairs & maintenance of buildings | 45,920 | 46,577 |
| Insurance | 13,509 | 11,146 |
| Light & heat | 13,247 | 19,878 |
| Diocesan assessment | 19,955 | 15,423 |
| Administration costs | 3,443 | 2,304 |
| Printing, display& advertising costs | 1,609 | (2,417) |
| Choir& music group | 9,385 | 9,980 |
| Rent& rates | 4,473 | 5,292 |
| Financial charges | 488 | 552 |
| Education & books | 65 | 54 |
| General expenses | 26,698 | 10,406 |
| 236,817 | 395,871 | |
| Share ofsupport costs (see note 7) | 23,455 | 20,039 |
| Share ofgovernance cosis (see note 7) | 2,880 | 3,900 |
| 263,152 | 419,810 | |
| Analysis byfund | ||
| Unrestricted funds - general | 141,449 | 125,889 |
| Unrestricted funds - designated | 121,458 | 293,713 |
| Restricted funds | 245 | 208 |
| 263,152 | 419,810 | |
| Forthe yearended 31 December2024 | ||
| Unrestricted funds - general | 125,889 | |
| Unrestricted funds - designated | 293,713 | |
| Restricted funds | 208 | |
| 419,810 |
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
7 Support costs
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Support|Governance|2025|2024|Basis|of allocation|
|costs|costs|
|£|£|£|£|
|Staff costs|23,210|-|23,210|19,612|
|Book-keeping|245|-|245|245|
|Administration|costs|-|-|-|182|
|Independent examination|Governance|
|fees|-|2,880|2,880|3,900|
|23,455|2,880|26,335|23,939|
|Analysed|between|
|Charitable|activities|23,455|2,880|26,335|23,939|
----- End of picture text -----
Governance costs includes payments to the independent examiner of £2,880 (2024- £3,900) for examination fees.
8 Net movement in funds
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|Net|movement|in|funds|2025|2024|
|£|£|
|The|net|movement|in|funds|is|stated|after|charging/(crediting):|
|Fees|payable|for the|independent|examination|of the|charity's|financial|
|statements|2,880|3,900|
|Depreciation|of owned|tangible|fixed|assets|5,884|6,671|
|Loss|on|disposal|of tangible|fixed|assets|-|1,085|
----- End of picture text -----
9 Select Vestry
One of the Glebe Wardens provided gardening services to the Parish during the previous year, payments made amounted to £220. No payments were made in 2025. None of the other Select Vestry (or any persons connected with them) received any remuneration or benefits from the Parish during the year.
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
10 Employees
Number of employees
The average monthly number employees during the year was: 2
| 2025 | 2024 | ||
|---|---|---|---|
| Number | Number | ||
| Administration | 2 | 1 | |
| Employment costs | |2025 | 2024 | |
| £ | £ | ||
| Wages and salaries | 65,009 | 244,503 | |
| Social security costs | 2,417 | 1,421 | |
| Other pension costs | 7,089 | 7,278 | |
| 74,515 | 253,202 |
The Recior’s salary has been paid by the Diocese since March 2020. The Parish settled the remaining amounts incurred by the Diocese in March 2025. The total repaid of £226,994 had been included as an expense in the accounts for the year ended 31st December 2024.
There were no employees whose annual remuneration was £60,000 or more.
- Other expenditure
| Unrestricted | Unrestricted | Unrestricted | |||||
|---|---|---|---|---|---|---|---|
| funds | funds | ||||||
| 2025 | 2024 | ||||||
| £ | £ | ||||||
| Net loss on disposal oftangible fixed | assets | - | 1,085 | ||||
| Gains and losses on investments | |||||||
| Restricted Endowment | Total | Restricted | Endowment | Total | |||
| funds | funds | funds | funds | ||||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | ||
| Gains/(losses) arising on: | £ | £ | £ | £ | £ | £ | |
| Revaluation of | |||||||
| investments | 55,368 | 32,119 | 87,487 | 15,752 | 39,866 | 55,618 |
12 Gains and losses on investments
13 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
| 14 | Tangible fixed assets | |||
|---|---|---|---|---|
| Freehold land | Fixtures and | Total | ||
| and buildings | fittings | |||
| £ | £ | £ | ||
| Cost | ||||
| At 1 January2025 | 336,842 | 127,729 | 464,571 | |
| Additions | 220 | 479 | 699 | |
| At 31 December2025 | 337,062 | 128,208 | 465,270 | |
| Depreciation and impairment | ||||
| At 1 January2025 | - | (71,305) | (71,305) | |
| Depreciation charged in the year | - | (5,884) | (5,884) | |
| At31 December2025 | - | (77,189) | (77,189) | |
| Carrying amount | ||||
| At31 December2025 | 337,062 | 51,019 | 388,081 | |
| At31December2024 | 336,842 | 56,424 | 393,266 |
The church buildings, of St Patrick and St Andrew, and the graveyard are deemed to be Heritage assets as defined by the Charities SORP (FRS102). These Heritage assets are not included in the balance sheet as tangible assets 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.
15 Investment property
| Investment property | |
|---|---|
| 2025 | |
| £ | |
| Fairvalue | |
| At1January2025and31December2025 | 465,000 |
Investment properties comprises houses at 27 Willowfield Drive, 18 Avonbrook Gardens and 49 Avonbrook Gardens. The fair value of the investment properties are based on the estimated market value:
« 27 Willowfield Drive £140,000 Restricted asset as vested with RCB « 18 Avonbrook Gardens £175,000 « 49 Avonbrook Gardens £150,000
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Freehold | 465,000 | 465,000 |
| Long leasehold | - | - |
| Shortleasehold | = | - |
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
16 Fixed asset investments
| Listed | |||
|---|---|---|---|
| investments | |||
| £ | |||
| Cost orvaluation | |||
| At 1 January2025 | 1,005,274 | ||
| Additions | 9,943 | ||
| Valuation changes | (See note 12) | 87,487 | |
| At31 December 2025 | 1,102,704 | ||
| Carrying amount | |||
| At 31 December 2025 | 1,102,704 | ||
| At 31 December2024 | 1,005,274 | ||
| Debtors | |||
| 2025 | 2024 | ||
| Amounts falling due within one year: | £ | £ | |
| Trade debtors | 22,269 | 23,690 | |
| Otherdebtors | 517,180 | 517,300 | |
| Prepayments and accrued income | 8,985 | - | |
| 548,434 | 540,990 |
17 Debtors
18 Cash at bank
This includes proceeds from the sale of the Parish Centre in 2017 amounting to £373,389. This is held by the RCB on behalf of the Diocesan Board of Education, for the purposes of building the new hall. if the new hall does not incorporate a substantial educational component, these funds may not be made available to the Parish.
19 Loans and overdrafts
| Loans and overdrafts | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Credit card | 90 | 155 |
| Payablewithinoneyear | 90 | 155 |
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
19 Loans and overdrafts
(Continued)
20 Creditors: amounts falling due within one year
----- Start of picture text -----
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|2025|2024|
|Notes|£|£|
|Credit|card|19|90|155|
|Other|creditors|8,794|152,870|
|8,884|153,025|
|21|~|Retirement|benefit schemes|
|2025|2024|
|Defined|contribution|schemes|£|£|
|Charge|to|profit|or loss|in|respect|of|defined|contribution|schemes|7,089|7,278|
----- End of picture text -----
The Parish operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Parish in an independently administered fund.
22 Endowment funds
Endowment funds represent assets which must be held permanently by the Parish. Income arising on the endowment funds can be used in accordance with the objects of the Parish and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
----- Start of picture text -----
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|At|1|January|Transfers|Gains|and|At|31|
|2025|losses|December|
|2025|
|£|£|£|£|
|Permanent|endowments|
|543,813|9,944|32,119|585,876|
|Previous|year:|At|1|January|Transfers|Gains|and|At|31|
|2024|losses|December|
|2024|
|£|£|£|£|
|Permanent|endowments|
|503,947|-|39,866|543,813|
----- End of picture text -----
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PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
23 + Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At | 1 January | Incoming | Resources | Transfers | Gains and | At31 | ||
|---|---|---|---|---|---|---|---|---|
| 2025 | resources | expended | losses | December | ||||
| 2025 | ||||||||
| £ | £ | £ | £ | £ | £ | |||
| 1,405,810 | 16,769 | (245) | (12,328) | 55,368 | 1,465,374 | |||
| Previous | year: | At | 1 January | Incoming | Resources | Transfers | Gains and | At 31 |
| 2024 | resources | expended | losses | December | ||||
| 2024 | ||||||||
| £ | £ | £ | £ | £ | £ | |||
| 1,369,316 | 11,594 | (208) | 9,356 | 15,752 | 1,405,810 |
24 ~Unrestricted funds - designated
These are unrestricted funds which are material to the Parish's activities.
| At | 1 | January | Incoming | Resources | Transfers | At31 | ||
|---|---|---|---|---|---|---|---|---|
| 2025 | resources | expended | December | |||||
| 2025 | ||||||||
| £ | £ | £ | £ | £ | ||||
| 172,877 | 120,146 | (121,458) | 56,300 | 227,865 | ||||
| Previous | year: | At | 1 | January | Incoming | Resources | Transfers | At31 |
| 2024 | resources | expended | December | |||||
| 2024 | ||||||||
| £ | £ | £ | £ | £ | ||||
| 436,255 | 25,204 | (293,713) | 5,130 | 172,876 |
25 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At | 1 | January | Incoming | Resources | Transfers | At31 | ||
|---|---|---|---|---|---|---|---|---|
| 2025 | resources | expended | December | |||||
| 2025 | ||||||||
| £ | £ | £ | £ | £ | ||||
| General | funds | 987,114 | 179,176 | (141,449) | (53,916) | 970,925 |
~23-
PARISH OF COLERAINE CHURCH OF ST PATRICK & CHURCH OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
| 25 | Unrestricted funds | (Continued) | ||||
|---|---|---|---|---|---|---|
| Previous year: | At 1 January | Incoming | Resources | Transfers | At31 | |
| 2024 | resources | expended | December | |||
| 2024 | ||||||
| £ | £ | £ | £ | £ | ||
| General funds | 950,675 | 177,899 | (126,974) | (14,486) | 987,114 | |
| 26 | ~=Analysis ofnet assets between | funds | ||||
| General | Designated | Restricted | Endowment | Total | ||
| £ | £ | £ | £ | £ | ||
| Fund balances at 31 December | ||||||
| 2025 are represented by: | ||||||
| Tangible assets | 51,019 | ™ | 337,062 | - | 388,081 | |
| Investment properties | 325,000 | - | 140,000 | - | 465,000 | |
| Investments | - | - | 516,829 | 585,875 | 1,102,704 | |
| Current assets/(liabilities) | 594,906 | 227,865 | 471,485 | - | 1,294,256 | |
| 970,925 | 227,865 | 1,465,376 | 585,875 | 3,250,041 |
27 _ ~—=s@Related party transactions
The Parish and Kingsgate Renewal Limited are under common control, with the majority of the directors of the company also trustees of the charity. Kingsgate Renewal Limited owns the properties, as nominee for the Parish, from 6 to 14 Kingsgate Street, Coleraine, together with the car park behind the properties, which is accessed from Brook Street.
The Parish uses the properties from time to time, for which Kingsgate Renewal Limited charges a nominal rent.
| Loans have been made to Kingsgate Renewal Limited by the Parish, the balance outstanding at the yearend | Loans have been made to Kingsgate Renewal Limited by the Parish, the balance outstanding at the yearend | Loans have been made to Kingsgate Renewal Limited by the Parish, the balance outstanding at the yearend | |
|---|---|---|---|
| is detailed as 'Other debtors’ at note 17 ofthese accounts. | |||
| 28 | Cash generated from operations | 2025 | 2024 |
| £ | £ | ||
| Surplus/(deficit) forthe year | 140,426 | (150,580) | |
| Adjustments for: | |||
| Investment income recognised in profit or loss | (59,070) | (32,956) | |
| (Gain)/loss on disposal oftangible fixed assets | - | 1,085 | |
| Fairvalue gains and losses on investments | (87,487) | (55,618) | |
| Depreciation and impairment oftangible fixed assets | 5,884 | 6,671 | |
| Movements in working capital: | |||
| (Increase) in debtors | (7,564) | (6,151) | |
| (Decrease)/increase in creditors | (144,076) | 148 286 | |
| Cashabsorbedbyoperations | (151,887) | (89,263) |
~24-