Church of Ireland, Parish of Ramoan, Ballycastle
Church of Ireland Parish of Ramoan Ballycastle
Annual Report and Financial Statements For the year ended 31[st] December 2024
Charities Number: 102908
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Church of Ireland, Parish of Ramoan, Ballycastle
Annual Report and Financial statements for the year ended 31[st] December 2024
Contents
| Pages | |
|---|---|
| Receipts & Payments Account | 8 |
| Statement of Financial Position | 9 |
| Notes to the financial statements | 10 - 12 |
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Church of Ireland, Parish of Ramoan, Ballycastle
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Church of Ireland, Parish of Ramoan, Ballycastle
Re ceipts and Payments Account for the year ended 31[st] December 2024
| Receipts Regular Giving & Collections Donations & Legacies Special Collections Parish Centre Fundraising Property Rentals Investment Income Culfeightrin Parish Other Income Parish Organisations Total Receipts Payments Stipend & Staff Diocesan assessments Repair & Upkeep Heat, Light & Power Administration Sunday School Charitable Donations Rental Property upkeep Parish Organisations Refurbishment Costs Total Payments Excess/ (Deficit) of Receipts over Payments before transfers Transfers between funds Excess/ (Deficit) of Receipts over Payments for the Year Cash funds brought forward Cash funds carried forward |
Unrestricted Funds 2024 £ 54,508 942 1,582 11,617 7,748 6,460 69,300 7,785 2,780 162,722 105,495 13,081 11,179 14,580 17,147 3,950 3,334 1,867 170,633 (7,911) (7,911) 205,508 197,597 |
Restricted Funds 2024 £ 18,879 2,323 21,202 1,121 5,000 6,121 15,081 15,081 537,901 552,982 |
Endowment Funds 2024 £ |
Total 2024 £ 54,508 942 1,582 11,617 7,748 6,460 88,179 7,785 2,780 2,323 183,924 105,495 13,081 11,179 14,580 17,147 3,950 3,334 1,867 1,121 5,000 176,754 7,170 7,170 743,409 750,579 |
Total 2023 £ 55,729 4,483 2,081 14,183 11,536 6,419 82,264 6,083 2,380 2,429 |
|---|---|---|---|---|---|
| 187,587 | |||||
| 92,116 11,888 38,510 13,806 22,565 4,298 3,100 2,205 1,678 87,752 |
|||||
| 277,918 | |||||
| (90,331) | |||||
| (90,331) 833,740 743,409 |
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Church of Ireland, Parish of Ramoan, Ballycastle
Statement of Financial Position as at 31[st] December 2024
| Note Cash Funds Current Accounts Deposit Accounts Total Cash Funds 2 Investment Assets Investment Property RCB Unit Trusts CIT Unit Trusts NI Central Invest. Fund Total Investment Assets 3 Assets retained for the Parish’s own use Holy Trinity Refurbishment St James Refurbishment Parish Centre Rectory Total Assets retained for the Parish’s own use 4 |
Unrestricted Funds 2024 £ Restricted Funds 2024 £ Endowment Funds 2024 £ Total 2024 £ Total 2024 £ 100,532 5,004 105,536 107,642 97,065 547,978 645,043 635,767 |
|---|---|
| 197,597 552,982 750,579 743,409 |
|
| 275,000 275,000 275,000 10,465 1,800,359 344,520 2,155,344 2,115,762 11,536 11,536 10,522 118,432 118,432 114,529 |
|
| 10,465 2,075,359 474,488 2,560,312 2,515,813 |
|
| 637,705 637,705 653,052 738,122 738,122 755,711 1,011,019 1,011,019 1,035,619 250,000 250,000 250,000 |
|
| 2,636,846 2,636,846 2,694,382 |
The notes on pages 10 to 12 are an integral part of these financial statements.
The financial statements on pages 8 to 12 were approved by the Board of Trustees on _31 /03 /2025 and signed on its behalf by:
_____ Rev David Ferguson Rector
______ Mrs J McBride Honorary Treasurer
Date:
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Church of Ireland, Parish of Ramoan, Ballycastle
Notes to the financial statements for the year ended 31[st] December 2023
1. Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
(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
The Church Building and Graveyard are deemed to be Heritage assets as defined by the Charities SORP (FRS102). The original costs of these Heritage assets are unknown. The churches have been recently restored and are recognised at the cost of restoration.
Parish Centre
Ramoan Parish Centre is recognised on the balance sheet at cost of construction.
Rectory
The original cost of the Rectory is unknown. It is recognised on the balance sheet at fair value based on independent professional advice.
All property is vested in trust with the Representative Church Body.
Depreciation has been provided on a straight-line basis to write off the cost or valuation, less residual value of tangible assets over their estimated useful lives as follows:
Heritage Asset restoration 50 Years Parish Centre 50 Years
(ii) Investments
Fixed asset investments comprising investment properties & lands, equities and RCB/CIT Unit Trusts are initially recorded at cost and are then subsequently stated at fair value at each balance sheet date. Investments in unquoted investments are recorded at cost and are assessed annually for impairment.
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Church of Ireland, Parish of Ramoan, Ballycastle
Notes to the financial statements for the year ended 31[st] December 2024
(continued)
2. Movement in Cash Funds
| Unrestricted Funds General Fund Building Fund Sunday School Restricted Funds Capital Fund Bowling Club Women's Fellowship Endowment Funds Bequests Total Cash Funds |
At 1 Jan2024 £ Income £ Expenditure £ Transfers £ At 31 Dec2024 £ 192,405 143,378 (145,225) (6000) 184,558 7,803 15,821 (21,459) 6,000 8,165 5,300 3,523 (3,949) 4,874 |
|---|---|
| 205,508 162,722 (170,633) 197,597 |
|
| 534,099 18,879 (5,000) 547,978 2,428 1,053 (1,045) 2,436 1,374 1,270 (76) 2,568 |
|
| 537,901 21,202 (6,121) 552,982 |
|
| 743,409 183,924 (176,754) 750,579 |
3. Movement on Investment Funds
| Unrestricted Funds General Restricted Funds Capital Fund Endowment Funds Bequests Total Investment Funds |
Valuation 1 Jan 2024 £ 9,979 2,042,542 462,692 2,515,213 |
Transfers In £ |
Transfers Out £ |
Valuation Adjustment £ 486 32,817 11,796 45,099 |
Valuation 31 Dec 2024 £ 10,465 |
|---|---|---|---|---|---|
| 2,075,359 | |||||
| 474,488 | |||||
| 2,560,312 |
Purposes of Designated Funds
Building Fund: The Trustees have set aside funds for the repair and maintenance of Church buildings and Parish Centre. Sunday School Fund: The Trustees have set aside funds for use by the Sunday School.
Capital: The capital fund comprises property owned by the Parish, and investments funded by previous property and glebe land sales. These assets are held in trust by either the Representative Church Body or Church of Ireland Trustees. The Parish has restricted access to these funds for approved property capital expenditure only. Investment income is paid to the Parish to defray general operating costs.
Parish Organisations: Funds raised by Parish organisations through membership fees and fundraisers etc. are set aside to cover the organisation’s running costs. The Parish has no access to these funds for general use.
Purposes of Endowment Funds
Bequests: Legacies and bequests are invested and held in trust by RCB or Church of Ireland Trustees. The Parish has no access to the capital value. Annual investment income is paid to the Parish under the terms of the endowment to defray general Parish costs, e.g. stipend, grave upkeep, etc. Ramoan School Teachers Residence. The proceeds of the sale of the former residence are invested and held in trust. The terms of the trust stipulate that 75% of the investment income be paid to the Parish for Sunday School purposes. The Parish has no rights to the capital.
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Church of Ireland, Parish of Ramoan, Ballycastle
Notes to the financial statements for the year ended 31[st] December 2024 (continued)
4. Tangible Fixed Assets
| Holy Trinity Restoration Cost £ At beginning of the year 767,333 Additions Disposals At end of the year 767,333 Depreciation At beginning of the year 114,281 Depreciation 15,347 Disposals At end of the year 129,628 Net book value at beginning of the year 653,052 Net book value at end of the year 637,705 Collections for Third parties Connor Diocese- Ordination service BCA Bishops’ Appeal Christian Aid Royal British Legion Mothers Union |
St.James Restoration £ 879,462 879,462 123,751 17,589 141,340 755,711 738,122 |
Parish Centre £ 1,229,987 1,229,987 194,368 24,600 218,968 1,035,619 1,011,019 |
Rectory £ 250,000 250,000 250,000 250,000 2024 £ 784 323 475 1,582 |
Total £ 3,126,782 |
|
|---|---|---|---|---|---|
| 3,126,782 | |||||
| 432,400 57,536 |
|||||
| 489,936 | |||||
| 2,694,382 | |||||
| 2,636,846 | |||||
| 2023 £ 1,806 119 156 |
|||||
| 2,081 |
5. Collections for Third parties
The amounts above have been included in receipts for the year under ‘Special Collections’ and in total payments for the year under ‘Charitable Donations’
6. Trustee Remuneration and Expenses
Key management are deemed to comprise the Trustees. One trustee was paid a total of £46,332 for salary & expenses during the year.
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