ststement of Financial Attivitses for the year ended 31 December 2023
UnrestrKted Restrirted
Funds
Funds
2023
2023
Endowment
Funds
2023
Totsl
2023
Total
2022
Note
Income
Donations & legacies
Other trading activities
Investments
Charitable attivities
Other income
88,642
22,950
5,860
4,977
111.592
6.448
5,901
2.178
12.730
140.671
1.693
3,187
1,712
10.747
924
2,178
Total Income
105,062
33,787
138,849
158,010
Expenditure on:
Generating funds
Charitable activities
Other
Totsl Expenditure
112,381
112,381
96,350
112,381
112,381
96,350
Net Incomel (Expenditure) before
transfers
17,319)
33,787
26,468
61,660
Transfers between funds
100
(100)
Net Income/ (Expenditure) before other
recognised gains and losses
(7,219)
33,687
26,468
61,660
Gain/(Loss) on investments assets
Net movement In funds
{7.219)
33,687
26,468
61,660
Reconclllatlon of funds:
Total funds brought forward
68,618
790,748
859.366
797,706
Total funds Ca￿led forward
61.399
824.435
885.834
859.366

Statement of Financial Position as at 31 December 2023
Note
2023
2022
Fixed Assets
Tangible Fixed Assets
Investment Properties
Investments
Total fixed assets
10
448.072
339.801
448,072
339.801
Current Assets
Debtors
Cash and cash equivalents
Total current assets
11
19.655
419,007
438,662
38.280
482,065
520,345
Creditors- amounts falling due within one year
12
{900)
(780)
Total creditors
{900)
{780)
Net Current A55ets
437,762
519,565
Total net Assets
13
885,834
859,366
The funds of the parish
Unrestrirted funds
General funds
Designated funds
Total unrestricted funds
Restricted Funds
Endowment Funds
14
61,399
68,618
61,399
824,435
68.618
790,748
14
Total charity funds
885,834
859.366
The notes on pages 10 to 16 are an integral part of these financial statements.
The financial statements were approved by the Board of Trustees at a meeting of the Select Vestry on 08 April 2024 and
signed on its behalf by=
Rev Dennis Christie
DrTh
s Moody
Mr William Arnistrong

Notes to the financial statements for the year ended 31 December 2023
l Accounting poliaes
The principal accounting policies adoptedi judgements and key sources of estimation uncertdinty in the preparation of the
financial statements are as follows:
a) Basis of preparation
The financial statements have been prepared on a going concern basis in accordan￿ with Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Chartties SORP (FRS 102}). the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102).
The Parish meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at
historical cost and transaction value unless otherwise stated in the relevant accounting policy note{s).
b) Preparation of accounts on a going concern basis
The Parish generally meets its dayto day working capital requirements from it5 annual income.The Trustees have obtained
and reviewed cash flow forecasts for the coming year and based on these are satisfied that the Parish has resource5 to
provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable
future. Therefore. these financial ststsments have been prepared on a going concem basis.
c) Income
Plate Collettions, Weekly Envelopes and Graveyard income are accounted for on a cash receipts basis as the amount is
collerted.
Income arising from the rental of the Church Hall facilitie5 to third parties is recognised when the parish has entitlement
to the funds. any performance conditions attached to the income have been met, it is probable that the income will be
received, and the amount can be measured reliably.
Income from government and othergrants, whether'capital, grants or'revenue, grants. is recognised when the charity has
entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income
will be received, and the amount can be measured reliably and is not deferred.
Legacies are included within Income under either unrestricted or restricted funds according to the terms under which the
donation is made and when the amount can be quantified with reasonable certainty- Donations and gifts in kind are
brought into the accounts at their fair value to the Parish.
d) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable
that Settlement will be required, and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
10

Notes to the financial statements for the year ended 31 December 2023
l Accounting policies (continued)
e) Tangible assets
The assets of the Parish comprise: _
Church Building and Graveyard
Church Hall
Glebe House
Fixtures and fittings
The Church Building and Graveyard are deemed to be Heritage assets as defined by the Charities SORP (FRS102).
These Heritage assets are not included on the balance sheet as information on the c05t or valuation is not available and
such information cannot be obtained at a cost commensurate with the benefft to the users of the a￿OUnts and to the
parish.
The Church Hall was built in the 1951Ys. There are no reliable records of the cost of this construction and valuation approach
for such a building lacks sufficient reliability. As a result, this building is not recognised in the parish balance sheet.
The Glebe House is recognised at cost. being the estimated fair value of the property at year end. No depreciation has
been provided on the Glebe House as the current estimated residual value is not less than tts carrying value and the
remaining useful life currently exceeds 50 years.
Fixture5 and Fittings are recognised at C05t and are depreciated on a straight-line basis over a period of 10 years.
The assets, residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.
The effect of any change is accounted for prospectively.
Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the
difference between the new disposal proceeds and the carrying amount is recogni5ed in the statement of financial
activities and included in 'Other operating (10sses)/gains'.
fj Investments
Fixed asset investments comprising investment properties, investments In equlties and investment in RCB/CIT Unit Trusts
are initially recorded at cost and are then subsequently stated at fair value at each balan￿ sheet date. Investments in
unquoted investments are recorded at cost and are assessed annually for impairment. Unrealised gains and losses
represent the difference between the fairvalue at the beginning and end of the financial year or. if purchased in the year.
the differen￿ between cost and fair value at the end of the year. Realised gains and losses represent the difference
between the proceeds on disposal and the fair value at the start of the year or cost if purchased in the year. Both realised
and unrealised gains and losses in investments are reported within -Net Gains / (Losses) on Investments" within the
Statement of Financial Activities.
g) Cash and cash equivalents
Cash and cash equivalents includes cash in hand. deposits held at call with banks. other short-term highly liquid
investments wtth original maturities of three months or less and bank overdrafts. Bank overdrdfts are shown within
Creditors Amounts falling due within l year.
h) Financial instruments
The Parish only hasfinancial assets and financial liabilities of a kindthat qualifyas basicfinancial instruments. Basicfinancial
instruments are initially recognised at transaction price and subsequently measured at their settlement value.
11

Notes to the financial statements for the year ended 31 December 2023
Accounting policies (continued)
i) Funds
Funds are classified as either restricted funds or unrestritted funds, defined as follows:
Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with
their authority or created through legal processes, but still within the wider objects of the Parish.
Endowment funds are funds which have been given on the condition that the original capital sum is not reduced. but the
income there from is used for the purpose defined in accordance with the objects of the Parish.
Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of
the unrestricted funds are earniarked at the discretion of the trustees for a particular purpose, they are designated as a
separate fund. This designation has an administrative purpose only and does not legally restrict the tru5tees' discretion to
apply the fund.
Critical accounting judgements and estimation uncertainty
Estimates and judgments made in the process of preparing the financial statements are continually evaluated and are
based on historical experience and other fartors, including expectations of future events that are believed to be
reasonable under the circumstances. The Trustees do not consider that there are any critical judgments made in applying
the Parish's account.ing policies orthat there are any critical accounting estimates or assumption5 which may have a
significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial
year.
12

Notes to the financial statements for the year ended 31 December 2023
7 Analysis of Ex￿ndItUre
Unrestricted
Funds
2023
Restricted
Funds
2023
Endowment
Funds
2023
Total
2023
2022
Generating Funds
Fundraising costs
Other
Charitable Activities
Wages and salaries
Diocesan costs
Church running costs
Glebe costs
Charitable donations
Administration costs
Total expenditure
50,321
18,400
18.904
7,210
7.165
10,381
112,381
50.321
18,400
18,904
7.210
7,165
10.381
112,381
46,521
15,163
13.898
7,452
4,603
8,713
96,350
Totsl Expenditure
112,381
112,381
96,350
Governance costs are included within administration costs above.
8 Taxatlon
St Colmanell's Church of Ireland is recognised as a charity for the purposes of applicable taxation legislation and is
therefore not subject to taxation on its charitsble artivities.
9 Analysis of stsff costs, trustee remuneration and expenses, and the cost of key management personnel
Employees
2023
202Z
Salaries and wages
National insurance costs
50.321
46.521
Total
50.321
46.521
The average number of employees during the year. calculated on the basis of a head counL was as follows:
2023
Number
2022
Number
Ministerial support
Music staff
Premises maintenan
14

Notes to the financial statements for the year ended 31 December 2023
There are no employees in receipt of employee beneffts in excess of £60,000.
Key Management and Trustees
Key management are deemed to comprise the Trustees. The parish paid expenses of £2,831 relating to the
running costs of the Glebe House which is occupied by the rector. No trustee received any remuneration or
reimbursement of expenses during the year other than the Rector. The stipend and other expenses paid to the
Rector totalled £46,441 (2022 - £42,891).
No trustee or a person related to a trustee had any personal interest in any contract or transaction entered into
by the charty during the year.
10 Tangible flxed assets
Buildings
Equlpment
Total
Cost
At beginning of the year
Additions
Disposals
At end of the year
332,421
109,871
97,077
469
429,498
110,340
442,292
97,546
539,838
Depreciatlon
At beginning of the year
Depreciation
Disposals
At end of the year
89,697
2,069
89,697
2,069
91,766
91,766
Net book value at beginning of the year
Net book value at end of the year
332.421
442,292
7.380
5.780
339.801
448,072
11 Debtors
2023
2022
Sundry debtors
Other debtors
19,655
38,280
19.655
38.280
IZ Creditor5 Amounts Due within l Year
2023
2022
Accruals and other creditors
900
900
780
780
15

Notes to the financial statements for the year ended 31 De￿rnber 2023
13 Analysis of Net Assets Among Funds
General Designated
Restricted
Endowment
Total
. Fixed Assets
Investments
Current Assets
Current Llabllitles
Net assets at 31 Dec 2023
5,780
442,292
448,072
56,519
(900)
61,399
382 143
438,662
(900)
885.834
824.435
14 Funds of the Parish
Atljan
2023
At 31 Dec
2023
Income
Expenditure
Transfers
Endowment fund5
Restrlcted funds
Buildings Fund
790,748
790,748
33.787
33,787
(100)
(100)
824,435
824,435
Unrestrirted funds
General Fund
68,618
68,618
105,062
105,062
(112,381)
(112,381)
100
100
61,399
61,399
Total funds
859,366
138,849
(112,381)
885,834
Pur
oses of Restricted Funds
Buildings Fund: This ring fences funds for future building projects Within the Parish which are necessary to
support the church's worship and outreach program.
16