Parish of Ballyholme, St Columbanus statement of Financial Attivities for the year ended 31 Deomber Z024 Unrestricted RestTitted nds 2024 Totsl Furtds 2024 Total Funds 2023 Funds 2024 Note Income Donations & legacies 245,550 62,445 307,995 297.812 Other trading activitles Investments 5.249 5249 7,340 14,198 4,420 12A06 Charitable activities 1.373 1373 10,625 Total In 266,370 66.865 333235 328,183 enditure o Charitable Activities Financial Fees & Charges Depreciation Restoration Expenditure 271,176 4,064 8,666 279,842 272,056 916 267.112 8,666 275,778 272,972 Net Income/ (Expenditure) before transfers -742 58,199 57A57 55211 Transfers between funds Net Income/ IExpenditure) before other recognised gains and tosses -742 58,199 57h57 55211 Net movement in funds -742 $8,199 57N57 55211 R¢con(iliatlon of funds: Total fund5 brou8htfoThrard 1,708,471 L708A71 1,653260 Total funds carrfed t 1,707,729 58.199 1,765,928 1,708071 The statement of finacial activltles includes all 8ains and losses recognised in the year. All income and expenditu derNe from continuing arttvrties.
Parish of BalEyholme. St Columbanus Ststement of financial Position IIBalano Sheet) as at 31 DÈtember 2024 2024 2023 Fixed Assets Tangible Fixed Assets Investment Properties Investments Total Fixed Assets 13 14 990.7S5 300,OCKI 990,755 300,(X)O 1,290,755 1,290,755 Current Assets Debtors & PpaYrnefits Cash and cash equivalents Total Current A55ets 15 30.090 446,283 476.373 45,623 396.171 441.794 16 Current Liabillties Creditor5 & Accruals Bank Loans Total Current Uablllties 17 18 1.200 16.252 16,252 Net Current Assets 475,173 425,542 Li Bank Loans Totsl Long Term ilabilltles 18 Provisions for Liabilities and tharges 19 7.826 Totsl Net Assets 1,765,928 1.708.471 Parish Funds Unrestricted funds General funds Designated funds Total Unrestricted Funds 21 21 328.102 1.379,627 1.707,729 328,846 1,379,625 1,708,471 Restrfrted Funds ReStotIon Project Total Restrirted Funds 21 58.199 58,199 Total Charity Funds 1,765,928 &708,471 The notes on pages 12 to 19 are an integral part of these financial ststements. The financial statements on pages 9 to 19 were approved by the Board ofTru5tee5 on 28th October 2025 and signed on its behalf bv: Rev Canon S Doogan Trustee EGrant Trustee 10
Parish of Ballyholme. St Columbanus Statement of Cash Flows for the year ended 31 December 2024 Note 2024 2023 Cash Flows from O ratln Actlvities: Net cash provided by (used) in operating activities 22 31.494 -5,901 Cash Flows from Imiestin Artivities: Dividend5, Interest and Rents from Investments Proceeds from the sale of Property, Plant & Equipment Purchase of Property. Plant & Equipment Proceeds from Sale of Investments Purchase of Investments Net Cash Provided by (Used In) Investing A¢tivities 18,618 12.406 18,618 12,406 Cash Flows from Financin Repayment of Borrowing Cash Inflows from New Borrowing Receipt of Endownment Net Cash Provlded by (Used in) Imiesting Activities Chan8e in Cash in the Reporting Period Cash & Cash Equivalents at the Beginning of the Reporting Period Change in Cash and cash Equivalents due to Exthange Rate Movements Cash and cash Equivalents at the end of the Reportin8 Period 50,112 396,171 6,505 389,666 16 446.283 396,171 11
Parish of Ballyholme. St Columbanus Notes to the Financial Stateménts for the Year erKled 31 Drnber 2024 l. Ac£ounting PofKies The principal accounting policies adopted, judgements and key sources of estimation or uncertainty in the preparation of the financlal statemÈnts are as follow5= 1.1 Basis of Preparation The financial statements have been prepared on a going concern basis in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financlal Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP {FRS 1021, the Financial Reporting Standard applicable in the UK and Republlc of Ireland {FRS 1021. The Parish meèts the definition of a public benefrt entity under FRS 102. Assets and Ilabilities are Inltlally reco8nised at historlcal cost and transactlon value unless Otherwise stated in the relevant accounting policy notelsl. L2 Preparation of I¢Unts on a going concern basls The Parish generally meets its day to day working ¢apitsl requirements from tts annual income. The Trustees have obtslned and reviewed cash f low forecasts for the coming year and based on these are satisfied that the Parish has resour¢es to provide reasonable expectation that it can continue to meet its financial obligation5 as they fall due for rhe loreseeable future . Therefore these financial statements have been prepared on a goin8 concern basis. 1.3 Income Plate Collettions. Weèkly Envelopes and rentsl of the Parish Hall are accounted for on a cash receipts basi5 as the amount is collected. Other donatlons are recognlsed once the Parish has been notified of the donation. Income tax recoverable In relbtlon to donations received under Gift Aid or deeds of covenant is recognised at the tjme claim is submitted to HMRC. Legacies are included within Income under either unrestritted or restrirted funds according to the terms under which the donation is made and when the amount can be quantifted with reasonable certainty. Donatlons and gifts in kind are brought into the accounts at thelr fair value to the Parish. Income arlsing from the rentsl of investment properties to third partiès is recognised when the parish has entitlement to the funds. it Is probable that the income will be received and the amount can be measured reliab. 1.4 Expenditure Expendlture is recognised once there is a legal or constructive oblieation to make a payment to 3 third party, St Is probable that settlement wlll be requlred and the amount of the obligation can be measured reliably. 1.5 Tangible assets The assets of the Parish comprise-_ The Church Building The Parish Centre The Rertory- Ward Avenue Parish House- The Bay Parish House- Beverty Gardens EqLEipment 12
The Churth Buildin8: The Church Building is deemed to be a Heritsge asset as defined by the Charities SORP IFRS1021. This accounting policy forthis asset is OLrtlined in note 1.6 below. The Parish Centre and Rectory: The Parish Centre is recognised at C05t. The Rectory is recognised at deemed cos¢ bein8 the valuation placed on the property for Lotal PropetyTax/Rates wrposes. No depreciation ts provÈded on these as the current estimated residual value is not le5S than the carrying value and the remaining useful lrfe currently exceeds 50 years The Bay and Beverly Garden5: These properties were purchased as homes for the Curate and Parish Youth Worker. These properties have been let at a commerical rent and have therefore been treated as investsnent properties. The accountln8 pollcy for these assets is outlined in note 1.7 below. Equipment: Equipment is included at costs and dèprÈciatÈd on a straight line basis over 4years. A dlminis for capitalisation of £1,500 is applied. Tanglble assets are derecognised on disposal or when no fvture economlc beneffts are expected. On disP05al, the difference beIveen the new disposal proceeds and the cafrying amount is recognised In the ststement of financlal actlvitles and Included in 'Other operating Ilossesllgalns. 1.6 Hevltage assets The Church Building 15 deemed to be a Heritsge asset as defined by the Charities SORP IFRS1021. This asset is not included on the balance sheet as information on the cost or valuation is not avallable and such information cannot be obtained at a cost ¢ommen5urate with the benefit to the users of the accounts and to the Parish. 1.7 Investment propertles Flxes asset Investments comprising investment properties are initially recorded at cost and a then subsequently statèd at fairvalue at each balance sheet date. Unrèalised gains and losses represent the difference between the fair value at the beginning and end of the financial year or, ff purchased In in the year, the difference bÈtwÈen c05t and fair value at the end of the year. Realised gains and losses repsent the difference between the proceeds on disposal and the fair value at the stsrt of the year or cost rf purchased in the year.Both realised and unrealised gains and losses in investments are reported within 'Net GainsllLossesl on Investments, within the Statement of Financial ActNbtie5. I Cash and cash equivalents Cash and cash equivalents includes cash in hand, deposits held at call wrth banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown withln Credr(ors- Amounts falling due withFn l year. Loans with a durntion of more thèn 12 months are split btheen current and long term liabilities. 1.9 Financial instruments The Parish only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments a inrtially OgniSed at transaction price and subsequentty measured at their settlement valve. 1.10 Taxation The Parish of Ballyholme, St Columbanus. is recognised as a charity ft)r tho purposes of applicable tsxation legslation and is therefore not subje¢tto tsxation on its charttsble actNities. 12
1.11 Retirement benefrts Payments to defined contribution retirement benefft schemes are charged as an expense as they fall due. 1.12 Fund5 Funds are classified as ebther restricted funds or unrestricted funds. defined as follows: Restricted Funds: The Select Vestry has defined the Restrjration FLEnd as restrirted funds as these have been generated through separate donations from parishioners to undertske physical restoratton works to the Church and Parish centre. Endowment Funds: are funds which have been given on the condition that the original capitsl sum is not reduced. but the income there from is used for the puTse defined in accordan wrth the objects of the Parish. The Parish has no endownment funds. Unrestricted Funds: are expendable at the discretion of the Trustses In furrherance of the objects of the charity. If parts of the nrestricted hjnds arè earmarked at the dlscretion of the Trustees for a particular purpose. they are deslgnated as a separate fund. Thls designation has an adrninistrative purpose On and does not legally striCt the Trustees, discretion to apply the fund. 2. Critical accountin8 judgements and estimation uncertainty Estimates and judgments made In the process of pparing the financial ststernents a continually evaluated and are based on hlstorlcal experience and other fattors, 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 accounting policies or that there are any critical accounting e5tirnates or assumptions which may have a significant risk of causing a materlal adjustment to carrylng amounts of assets and liabilities wlthin the next financial year. 12
Parish of Ballyhome. St Columbanu5 Notes to the Financial Statements for the Year Ended 31 December 2024 An•ly515 of Incoj Funds FuThls Total Total 2023 2024 2024 2024 2024
Donations and le¥acie5 Weekty envelopes / FWO Restoration Prolett Donatiofis Grants 188562 188,562 26,730 198,385 30,670 26,730 Pastoraccount 355 30,35S 8,022 15,451 38,875 307,995 2,165 6,60 18,214 41.774 297,812 Mi5S10fi5 Youth Fellowship fjiftd 8,022 ,451 33,160 245.550 5.715 62.445 4. Oth•rtr•d¥ni•ctlvltl•s Rentsls from Parfsh Cent Caterin8 169 169 932 S,249 5,249 7,340 5. In¥estrnents Deposr( interest- General DeposSt Interest- Development Fund Bay & Be¥erty Gardens- Rental lft¢omÈ 490 4,420 13.708 18,618 127 4,420 13,708 14,198 12,279 12,406 4.420 & tharftsble adl¥ltles sglar pane15 Gazette Income M5scellanèous Incorne 214 L266 4,419 4,72S 10,625 1,3rJ 1373 Earthquake Appeal L373 1.373 Anal of Ewndily 7. tharitable Artivities Salaries and Wages Write back old provision Dl¢xesan Costs 134,608 -16,252 27.438 79545 21366 7,395 16,076 139,788 -16,252 27,438 79y5 22,366 7395 16,076 15,550 S6.748 33,738 9,073 16,404 755 Premises Costs Genernl Parish Runnin8 Costs Missions Youth Fellowshlp Pastor account 271.176 8,666 279,842 272,OS6 & rinanoal Fees & Charges Bank Char8e5 and Interest Audrfc & Accountan¥y Reverse provision for HMRC Penalty 762 762 616 .626 4.064 .626 916 Equipment 15
10 Taxation The Parish of Ballyholme is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subjett to taxation on its charitsble attivrties. 11. Analysis of staff costs. Trustee remunerntton and expenses. and thÈ (xbrt of W Management Personnel Employees 2Q23 Clergy Stlpend and Allowances Clergy Pensions Clergy Employers Nl Stsff Salaries stsff Expenses Stsff Employers Nl Staff Pension 54,999 ii,In 4.565 58,868 62,225 14.361 5,167 53.242 2,943 2,895 1.898 vtslting Preacher Total 134.608 139,788 The average number of employees durin8 the year. cakulated on the basis of a head count. was as follows.. 2024 2023 Number Nurnber Ministerial support Administration Music staff Premises maintenance There are no employees in recelpt of employee benefits in excess of £60,OIXI. 12 Key Management and Trustees Key management are deemed to comprtse the TTu5tee5. No trustee or a person rekted to a trustee had any personal interest in any contratt ot transaction entered into by the Charty durin8 the yeai. During the year the Clergy receNed a stipend of £62,225. No otherTrustee or a person related to a trustee had any personal interest in any contrart or transattion entered into by the charity during the year. No Trustees had expenses reimbursed throughout the year and no Tnjstee incurred any matsrial costs on behalf of the church which was waNed. 16
13 Tangible fixed assets Freehold land and buildings Equipment Total At C05t At l January 2024 Additions Revaluation 99).755 990,755 Disposals At 31 December 2024 990,755 990,755 Depreciatlon At ljanuary 2024 Depreciation Disposals At 31 December 2024 Net book value at 31 December 2024 Net book value at 31 December 2023 990,755 990,755 990,755 990,755 Freehold land and bulldlngs Consist of the following properties- Church buildlng- thls asset Is not included on the balance sheet as the infom)ation oft the cost or valuatlon Is not available and such information cannot be obtained at a c05t commensurate with the benefit to the users of the accounts and to the parish. Accordingty the Church building is deemed to be Her6tage asset as defined by the Charities SORP IFRS1021. (At 31 Ortober 2024. the sum insured for the Church bulldlng and contents was £4,810,890) The Parlsh Centre is recognised at cost. The Rectory is recognised at deemed cost of £300,000, being the valuation placed on the property for Local Property Tax/Rates purposes. No depreciation is provided on these assets as the current estlmated resldual value is not less than the carrying value and their remaining useful life exceed$ 50 years. 14 InvestrneDt Properties Investment Properties Totsl Fair Value At ljanuary 2024 Additions Gain / L055 Disposals At 31 December 2024 3CQ.OCMJ 300.CK)O Investment propertle5 atThe Bay and Beverly Gardens, Bangor, are held to eam rentals. The year end valuationof the properties was carried out by the trLtstees and is based on reference to market evidence of transcations for similar properties in the area. 17
15 Debtors & Prepayments 2024 2023 Debtors- Gift Aid Sundrydebtors 30,090 45.623 30.090 45,623 16 Analysi$ of cash and cash equiwdlents 2023 Cash In hand Notlce deposits (less than 30 days) Overdraft facility repayable on demand Totsl cash and cash oquiwalents 446,283 396.171 446.283 396,171 17 Crèditors & Accrnals 2024 2023 Creditors 15.052 1,200 16.252 Accruals 1,200 1.200 18 3ank Loans 2024 2023 Due within 12 Months Oue after 12 Months 19 Provlslons 2024 Z023 Provision for HMRC Penalty 7,826 7,826 20 Retirement benefrt schemes The parish operates a defined contribution pension scheme for all qualifying employees. The a5set5 of the scheme are held separatefyl from those of the parish in an independently adminiSted fund. 18
Zl Funds of the Par5sh At ljan 2024 Income Expendire Transfers At 31 DÈC 2024 Restritted funds Restoration projett 66,865 66.865 58,199 58,199 -8,666 Un Strlcted funds General fund 328.846 242.897 -243.641 328,102 De51gnated funds Missions fund -2A69 1,810 690.755 8.022 15.451 -7,395 -16,076 -1,842 1,185 690,7S5 Youth fund Property fvnd Investment property Equipment Fund 8uildinB Fund 389.529 1,708,471 389,529 1,707,729 266,370 -267,112 Tatsi funds 1,708A71 333,235 -275,778 1,765.928 Purpose of restrkted fuftds This Is a fvnd to a551st wlth the restoratlon of the Church building and development of thè'link, between the Church building and the Parish Centre. Purpose of designated fufflds Missions fvnd.. this Is a fvnd to assist with overseas mi55iowy work. Youth fund.. this is a fund to assist wtth youth athltles. Property fvnd.. this fijnd is in relation to the Parish Centre. Investment fvnd: this lund is in relation to the investment propertiesThe Bay and Beverly Gardens, 8angor. Buildin8 fund.. thi5 fund Is in relation to building development projects. 22 Reconciliation of net Incomellexpenditsrel to cash flowfrom opernlkng acdvftles 2023 Net inwmellexpendlturel for the reportlng perlod {•s per the finèn¢lal ateMents) Adjustments for. Depreeiation charges Other Provisions 57,457 55.211 Dividends, Intet and rents from investments Lossllprofitl on the sale of fixed assets Ilntreasel/decrea5e in debtor5 Increa5elldecreasel in creditors Netsh provided by (used Sn) op8 athibes -18.618 -12.406 IS33 -2278 31A94 41,773 6,933 -5.901 19