## **St Patrick’s Church, Jordanstown**
# **Trustees’ Annual Report and Financial Statements**
# **For the year ended 31st December 2024**
**Charities Number: NIC103259**
1
**St Patrick’s Church, Jordanstown**
## **Annual report and financial statements for the year ended 31 December 2024**
## **Contents**
||Pages|
|---|---|
|References and administrative details of the Charity|**3**|
|Trustees’ report|**4 - 8**|
|Independent Examiners Report to the Trustees|**9**|
|Statement of financial activities|**10**|
|Balance sheet|**11**|
|Statement of cashflows|**12**|
|Notes to the financial statements|**13-17**|
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## **St Patrick’s Church, Jordanstown**
## **References and administrative details**
Charity Name:
St Patrick’s Church, Jordanstown
Charity Registration Number: NIC103259 Contact Address: Jordanstown Road Newtownabbey BT37 0NT
## **Trustees**
The following people served as members of the Select Vestry during the period.
Rev Canon N Baylor – Chairman Mr R Marshall – Honorary Treasurer Mrs L Neill – Honorary Secretary Mrs G Beresford Mr I Cochrane Mrs B Lancaster Mr N Lamont Mrs H Crowe Mr D Neill Mr M Baxter Rev C Dixon Mrs H Hubberstey Ms K Stapleton Mr D Marshall Mrs H Winning Mr S Trimble Mr P Dawson
## **Principal Office - Bearers**
Clergy:
Honorary Treasurer: Honorary Secretary Church Warden - Clergy: Church Warden - People:
Rev Canon N. Baylor Rev Brendan O’Loan (Ordained Local Minister) Mr R Marshall Mrs L Neill Mr N Lamont Mrs H Hubberstey
## **Independent Examiner**
Mr M Nixon
## **Bankers**
Danske Bank Donegall Square West, Belfast
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## **Trustees’ Annual Report for the year ended 31 December 2024**
The trustees present the annual report and statements of Receipts and Payments and Assets and Liabilities for the St Patrick’s Church, Jordanstown for the year ended 31 December 2024.
## **Objectives and Activities**
The charitable purpose of the Church of Ireland is the advancement of religion.
The principal function of St Patrick’s is to support the advancement of the Christian religion by promoting the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Being open to and engaging with society as a whole and offering support for those needing help are fundamental to the practical delivery of the benefits of Christianity. As a result of activity in the pursuit of the advancement of the Christian religion, St Patrick’s has custody of property and of records, materials and artefacts of significance to the cultural and religious heritage and maintenance of which is undertaken by the Select Vestry of St Patrick’s.
## **Achievements, Performance & Public Benefit**
## _**St Patrick’s Core Values**_
|**Passion: for**|Jesus Christ His call to mission and relevance in the community and the world in which we live|
|---|---|
|**Relevance: to**|the world in which we live|
|**Faithfulness: to**|the word of God and the vital role of prayer|
|**Acceptance: to**|be a welcoming church which accepts everyone just as they are|
|**Openness: to**|the power and life of the Holy Spirit who transforms us from within in worship, teaching and|
||lifestyle|
|**Generosity: in**|our stewardship of gifts and resources and our willingness to serve|
Our chief resource is the people in our church and the gifts that God has given to each of them. We seek to encourage the God given talents and gifts in each person and to make sure that everyone in the congregation is exercising their own unique gift in the way that God has always intended. We see our church therefore as an every-member ministry team who work together for the advancement of the Kingdom of God.
St. Patrick’s Church was built in 1868, in the Celtic Style, and is a Grade A Listed building. It is considered one of the most attractive churches in the Diocese of Connor. The Parish also has an excellent suite of halls in first class order, which are used every day by all age groups which enables a wide variety of ministry to take place.
There are active organisations for all age groups including Scouts, Guides, Cubs, Explorers, Youth Fellowship, Sunday school, Parents and Toddlers, Tuesday Club for the retired, Mothers’ Union, Coffee and Creations open to the wider community, Bible Study, Prayer Fellowship, and recreational clubs. St Patrick’s offers Courses in Christian Faith (e.g. Alpha) and Marriage Preparation and is committed to the Ministry of Healing.
Lay people are encouraged to be actively involved in all areas of the life of the Parish and there is good participation and commitment. The Parish is ecumenical in the broadest terms and has joint services and mission with neighbouring Churches of all traditions. The Parish Ministry Team is part of The Whiteabbey/Jordanstown Clergy Fellowship. St Patrick’s is an inclusive Church, which allows each member to express his or her spirituality in the way they find most comfortable.
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## **Trustees’ Annual Report for the year ended 31 December 2024 (continued)**
## _**Worship and Services**_
Sunday Services are:
Early Morning Holy Communion Traditional Morning Prayer Informal family orientated Worship (SPACE: St Patrick’s Adults Children Everyone) Family Service (usually monthly)
Evening Prayer Healing Service (bi-monthly) A variety of Service of the Word evening services
## _**Ministry in St. Patrick’s**_
The ministry team in St Patricks Jordanstown is led by Rev Canon Nigel Baylor and supported by an Ordained Local Minister Rev. Brendan O’Loan, and a group of lay people who assisted in leading worship in SPACE in the last year. We have also benefitted by the retirement of Rev. Campbell Dixon and Rev. Kevin Brew who have made themselves available when needed.
The year began on a very positive note on 11[th] January with the official launch of Rock Choir. Rock Choir has been a very significant new venture in St Patrick’s as this choir is open not only to parishioners but to all in the wider community. The aim of Rock Choir is to open an opportunity for those who enjoy singing without the necessity of being able to read music. The other very positive aim is to encourage the improvement of the mental health of those who attend. This goal is most certainly evident in the joy and laughter which the members exhibit each Thursday night. There is an excellent conductor who travels from Ballymena to lead this group of ladies and gentlemen. We will come back to the contribution of Rock Choir to the parish and wider community at a later stage.
We marked the season of Lent on 15[th] February, the day after Ash Wednesday with a Study called _The Reason for God_ when we met each Thursday in the Scott Room. We discussed such topics as, _Why God allows suffering? Why there is so much evil in the world? and how can we say that there is only one way to God?_ This provided much food for thought as well as the opportunity for people to ask questions. All in all, it was a worthwhile exercise as we moved toward Holy Week and Easter.
The Mothers’ Union which is a fellowship for mothers in our congregation made a large and significant contribution to Baby Basics which seeks to help young mothers who are starting out on their journey of caring for their babies after birth. Our ladies in M.U. gave donations of blankets, baby grows, Moses’ baskets and other items to a centre in Ballynure, which forwarded these items to women at this vital stage of parenthood.
March saw the annual celebration of St Patrick with an Evening of Music and Irish Stew on Friday 15[th] at the beginning of our Patronal Festival. This provided a fun night for parishioners and those in the wider community who gathered in our main hall. This was followed on Sunday with a baptism of a little girl whose family came from near and far. Her parents live in the Maiden City but made the effort to come back to the church where they were married in 2022 to mark this special occasion. The parents were joined by their families and Shamrocks was blessed and handed to the couple at the end of the baptism ceremony. One of the lovely outcomes was that the child baptised who had been a restless sleeper was reported to have “ _slept like a log_ ” in the week that followed.
Rock Choir held their annual Charity Concert in our church on Friday 22[nd] March at 7.30pm. This was in support of Dementia N.I. and I am glad to report that this event was well attended and supported and that over £900 was raised for this worthy cause. This was part of our parish enabling the Rock Choir to support worthy causes in the wider community. This will no doubt continue to happen in our parish in the future.
We shared the normal Holy Week services with Whiteabbey Presbyterian and Whiteabbey Methodist churches culminating in a celebration of Holy Communion on the Loughshore at 7.30am on Easter Day which is always well attended. This was followed by breakfast provided by our parish in our main hall afterwards. We had a very joyful Confirmation Service on Sunday 28[th] April at 11.am when the Bishop of Connor came to confirm and encourage several young members of our church in their next step of faith at that point in their lives. This was again followed by refreshments in the church hall.
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## **Trustees’ Annual Report for the year ended 31 December 2024 (continued)**
On 12[th] May we hosted a special Christian Aid service in our church for the local churches. This marked the beginning of Christian Aid Week when collectors went out to encourage support for the Third World in certain specific parts of the world. We were grateful for the commitment of all who took part in this important week.
On Saturday 18[th] May the parish held a GIFT DAY in aid of a very ambitious project of renovation of our historic church. St Patrick’s Church, Jordanstown is over 150 years old and is a Grade A listed building and in the light of much needed repairs we held a special Gift Day which, included a guided tour of the building itself when people were also invited to make a significant donation to this work. This work began as the replacement of the guttering on the building which quickly led to the reroofing of the entire building and the repointing of the stonework. This work began in the Summer and has continued into the Winter. In fact, it is not expected to be completed until April 2025. We have seen this work very well supported and expect a successful completion. This is the most comprehensive work done on this building since it was built in 1868. It is in effect a national monument and we hosted Songs of Praise in 2014. There is always interest from the public who are often curious to see inside the church to experience its undoubted beauty and unique architecture.
As Rector of St Patrick’s Jordanstown I was honoured to be asked to speak at the Annual Armed Forces Day Service which took place on Saturday 22[nd] June at 10.30am at the War Memorial at Whiteabbey Village. This was attended by members of the Royal Air Force, Royal Navy and the Army as well as the Lord Lieutenant of County Antrim, MPs, local Councillors, and other dignitaries along with hundreds of the public. It was an honour to represent my parish but also the public as we gave thanks for 80[th] Anniversary of the D-DAY Landings and the excellent contribution of all our Armed Forces. The whole community came out and it was a great occasion when the weather was dry which was a great blessing!
The annual Holiday Bible Club took place from Monday 12[th] August until 16[th] August and culminated in a Family Service in the Church Hall on Sunday 18[th] August. This is always an open invitation to children in the community to take part in learning more about God and his Son Jesus Christ. It was well attended and is a vital part of our outreach programme in the parish.
One of our church groups called the Tuesday Club, which is for those who are retired, is always a very lively group which extends to many outside our parish membership. One of the highlights of the year was the visit of Lady Sylvia Hermon who kept us all entertained and enlightened by her stories of her family life but also her experiences as an Independent MP in the House of Commons for over 20 years. She came to speak on 19[th] September and those who attended were not disappointed.
In October we had our Harvest Thanksgiving, and one of the highlights was the evening of Harvest Music on 20[th] October at 6.30pm. The choir gathered members not only from the regular choir but also from the SPACE congregation which combined to produce an excellent blend of sound from voices young and mature. At the Morning Service we were very interested to hear from the Chaplain to the Seafarers, Rev Mark Reid who reminded us of the important contribution of seamen and women to the life of our nation.
In November we were again fortunate to have the singing of Rock Choir on Saturday 23[rd] . We enjoyed an hour-long concert in aid of our Restoration Project which was followed by refreshments in the church hall afterwards. This was the end of a week which began with a very well-run Coffee Morning on the Monday before which produced another valuable contribution to our work on the church building.
December began with a successful Senior Citizens Lunch funded by Antrim and Newtownabbey Council. This lunch provided an opportunity for those who attended to get together and share lunch. We also held a Christmas Family Day on Saturday 30[th] November at the start of the season which again provided entertainment and fellowship for the younger generation. The annual Nativity Service was held in our church hall on 15[th] December and was followed by another excellent performance from our All-Age Choir at 6.30pm that evening. The numbers attending these services and the services on 22[nd] , 24[th] and 25[th] December gathered a wide number of people from throughout the parish and from the community in which we exist. There were some people present who had not been out at church since before the pandemic, which was very encouraging.
All in all, 2024 ended on a very positive note indeed as we look forward to the year ahead
6
## **Trustees’ Annual Report for the year ended 31 December 2024 (continued)**
## _**Compliance with public benefit**_
In all these ways, the Parish has given careful consideration to the Charity Commission for Northern Ireland’s guidance on public benefit to ensure that the activities entered into during the year have helped to achieve the Parish’ objectives and activities, as well as providing public benefit.
## _**Financial Review**_
St Patrick’s has three funds. The General Fund deals with ordinary day to day running expenses including salaries and payments to people. The Development Fund is for Capital Expenditure or other expenses outside day to day running expenses. The organ fund was opened in 2022 to keep monies separate which were pledged specifically for the organ.
As most people will be aware work started on the Church building and roof in June 2024 to allow all the works to be completed, we had to cash in our investment funds.
## _**General Fund**_
As everyone is aware 2024 saw a return to normality, weddings baptisms funerals all took place as normal, and attendances improved. FWO and Gift Aid has risen in 2024 by £18667, however we showed a loss of £68513 of income verses expenditure. This was due to interim payments for roof and building repairs of £241383 in 2024. We had income of £7,313 from investments which is similar to 2023.With all organisations and groups meeting again in 2024 we had income for the halls of £6592 similar to 2023. As already mentioned, expenditure increased by £203333 mainly due to significant roof and building repairs. Other costs remain very much like 2023 with the exception of Sexton, Secretary and Organist costs which reduced by £3678 due to the organist leaving during 2024.
Other salient points are:
1. Even with return to normality during 2024 we had fewer weddings and baptism’s which saw a reduction in income of £1130.
2. Investment Income remained similar to 2023 but as already mentioned these investments have now been cashed in to help cover the repairs.
3. Charity distribution was increased in 2024 to £2,156.
Overall, we showed a deficit of £68513 however this has been covered by existing monies held from previous years. We continue to spend on average £2000 per month more than our income this has been partly addressed by our Gift Day which saw some parishioners increase their monthly standing order, we will continue to focus on this going forward.
## _**The Development Fund**_
There was a significant amount of capital expenditure in 2024 mainly for the ongoing repairs.
This expenditure was covered by the monies held in the Development fund and Organ Fund.
- Investment Funds are now as detailed below:
1. The endowment funds which are the result of past bequests to St Patrick’s, are held in the CIT unit trust.
## _**Organ Fund**_
It was decided to use the Organ Fund to keep monies separate which were pledged from parishioners for the roof repairs. We held a Gift Day in May which raised over £40,000 I would like to take this opportunity to thank all who attended on the day for their generosity. It was also decided to write to those parishioners who for a variety of reasons were unable to attend the Gift Day this has resulted in a further £80.000 being collected over the last seven months again a big thank you to all those who contributed. All this and the monies in the Development mean that the roof and building repairs will be paid in full.
## **Going Concern**
The trustees have reviewed the projections for the year ahead and are satisfied that there are adequate funds in place to ensure that the Parish can continue its activities and the financial statements for the year ended 31 December 2024 can be signed off as a going concern.
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**Trustees’ Annual Report for the year ended 31 December 2024 (continued)**
## **Structure, Governance and Management**
## _**Governing Document and Constitution of the Charity**_
Chapter III of the Constitution of the Church of Ireland governs Parishes and Parochial Organisation. The Select Vestry members are the Charity Trustees
## _**Recruitment and Appointment of Select Vestry (Trustees)**_
All members of the Church of Ireland who are over the age of 18 and are either resident within the parish or live elsewhere but have been accustomed members of the congregation for at least three months, may register as members of the general vestry of the parish, allowing them to attend and vote at meetings of the general vestry and to stand for election to the Select Vestry. Meetings of the general vestry are held at least once a year. The Select Vestry is elected as part of this General Vestry meeting. The Select Vestry will hold their positions for a period of one year. Select Vestry members may be re-elected annually and there is no limit on the number of terms which may be served.
## **Pay and remuneration.**
Stipends, office and locomotory allowances, of all Clergy are based upon figures approved by the General Synod of the Church of Ireland.
## _**Organisational Structure**_
The Select Vestry is responsible for the day to day management of the parish. The Select Vestry consists of members of the clergy serving in the parish, the churchwardens, the glebe wardens and generally not more than twelve other members of the Select Vestry elected at the Easter General Vestry.
The Select Vestry is chaired by the incumbent or other member of the clergy officiating in the parish. Select Vestry members are responsible for making decisions on matters of general concern and importance to the parish including deciding how parish funds are to be applied.
The Select Vestry meets at times fixed by the members or by the diocesan synod. Special meetings may be convened at any time by the chairperson or the churchwardens. In 2022 the Select Vestry met 10 times during the year.
## _**Compliance with Public Benefit**_
The Parish has given careful consideration to the Charity Commission for Northern Ireland’s guidance on public benefit to ensure that the actives entered into during the year have helped to achieve the Parish’s objectives and activities, as well as providing public benefit.
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the Trustees’ Report and the statement of receipts and payments and statement of assets and liabilities in accordance with applicable law and regulations.
The law applicable to charities in Northern Ireland with Income of less than £250,000 requires the trustees to prepare a statement of receipts and payments and a statement of assets and liabilities for each financial year.
The trustees are responsible for keeping accounting records that are sufficient to show and explain the Parish’s transactions and disclose with reasonable accuracy at any time the assets and liabilities of the Parish. They are also responsible for safeguarding the assets of the Parish and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Signed on Behalf of the Trustees**
**Rev Canon N Baylor: ………………………………………………………..**
**R Marshall: ……………………………………………………………………..**
**Date ……………………………..……………..**
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## **Independent Examiners Report to the Trustees of St Patrick’s Church, Jordanstown**
I report on the accounts of the St Patrick’s Church Jordanstown for the year ended 31 December 2024, which are set out on pages 10 to 17
## **Respective responsibilities of charity trustees and examiner**
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008.
It is my responsibility to:
- examine the accounts under section 65 of the Charities Act
- follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act
- state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.
My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters.
- My role is to state whether any material matters have come to my attention giving me cause to believe: 1. That accounting records were not kept in accordance with section 63 of the Charities Act
2. That the accounts do not accord with those accounting records
3. That the accounts do not comply with the accounting requirements of the Charities Act
4. That there is further information needed for a proper understanding of the accounts to be reached.
## **Independent examiner’s statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
Name: Michael Nixon
Relevant professional qualification or body: FCA
Address: 13 Dillons Avenue Newtownabbey BT37 0SU Date: April 2025
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## **Statement of Financial Activities for the year ended 31 December 2024**
|||**Unrestricted**||**Restricted**||**Endowment**|||||
|---|---|---|---|---|---|---|---|---|---|---|
|||**Funds**||**Funds**||**Funds**||**Total**||**Total**|
||**Note**|**2024**||**2024**||**2024**||**2024**||**2023**|
|||**£**||**£**||**£**||**£**||**£**|
|**Receipts**|||||||||||
||||||||||||
|Freewill offeringandgift aid||154,228||18,123||0||172,351||153,684|
|Gift Day||151,925||0||0||151,925||0|
|Baptisms and Weddings||820||0||0||820||1,950|
|Funerals, in memoriam donations||380||0||0||380||680|
|Investment income||4,662||854||1,797||7,313||7,436|
|COI Gazette||0||0||0||0||0|
|Spotlight sales and advertising||1,300||0||0||1,300||1,481|
|Halls income||6,525||0||0||6,525||5,406|
|Rental income||10,800||0||0||10,800||8,900|
|Charitable collections||2,676||0||0||2,676||1,496|
|Donations/Legacies||2,106||0||0||2,106||19,020|
|Miscellaneous||3,510||0||0||3,510||3,515|
|Receipts from Parish Organisations||6,385||0||0||6,385||6,592|
|**Total Receipts**||345,316||18,977||1,797||366,090||210,160|
|**Payments**|||||||||||
|Clergystipend, pension and expenses||80,278||0||0||80,278||79,670|
|Sexton, Secretary, Organist, Development
Officer||15,706||0||0||15,706||19,384|
|Diocesan assessments||18,130||0||0||18,130||16,308|
|Utilitycosts||12,750||0||0||12,750||10,838|
|Insurance||4,597||0||0||4,597||4,165|
|Rent and rates||2,613||0||0||2,613||2,521|
|Repairs and maintenance||42,151||0||0||42,151||82,450|
|Roof repairs||241,383||0||0||241,383||0|
|Stationary, printingandpostage||3,787||0||0||3,787||3,829|
|COI Gazette costs||0||0||0||0||0|
|Spotlight||0||0||0||0||0|
|SundaySchool andyouth||0||0||0||0||0|
|Missions and charities||2,156||0||0||2,156||2,006|
|Catering||1,312||0||0||1,312||802|
|Presentations||0||0||0||0||0|
|Bank charges||457||0||0||457||448|
|Miscellaneous||2,267||0||0||2,267||3,992|
|Payments from Parish Organisations||7,017||0||0||7017||4,857|
|**Total Payments**||434,603||0||0||434,603||231,270|
||||||||||||
|**Excess of Receipts over Payments for the**
**year before transfers**||-89,287||18,977||1,797||-68,513||-21,110|
|Transfers||10,171||-8,374||-1,797||0||0|
|**Excess of Receipts over Payments for the**
**year**||**-79,116**||**10,603**||**0**||**-68,513**||**-19,987**|
|**Gain/loss on investments**||2,548||286||4,135||6,969||8,637|
|Total funds brought forward||927,878||124,444||60,241||1,112,563||1,123,913|
|**Total funds carried forward**||851,310||135,333||64,376||1,051,019||1,112,563|
||||||||||||
On behalf of the Trustees
Rev N Baylor
Robbie Marshall April 2025
10
## **Balance Sheet as at 31 December 2024**
**----- Start of picture text -----**
Note 2024 2023
Fixed Assets £ £
Tangible Fixed Assets 3 625,000 625,000
Investments 4 222,049 265,227
Total fixed assets 847,049 890,227
Current Assets
Debtors 5 62,771 32,798
Cash and cash equivalents 309,483 190,590
Total current assets 372,254 223,388
Creditors – amounts falling due within one year
Other creditors 6 168,284 1,052
Total creditors 168,284 1,052
Net Current Assets 203,970 222,336
Total net Assets 1,051,019 1,112,563
The funds of the parish
Unrestricted funds 7
General funds 851,310 927,878
Designated funds 0 0
Total unrestricted funds 851,310 927,878
Restricted Funds 7 135,333 124,444
Endowment Funds 7 64,376 60,241
Total charity funds 1,051,019 1,112,563
**----- End of picture text -----**
## **On Behalf of the Trustees**
## **Rev N Baylor**
## **R Marshall**
**April 2025**
11
## **Statement of cashflows for the year ended 31 December 2024**
**----- Start of picture text -----**
Total Total
funds funds
2024 2023
£ £
Cash flows from operating activities:
Net deficit for the year per the statement
-68,513 -21,110
of financial activities
Movement in debtors -29,974 71
Movement in creditors 167,232 1,051
Net cash used in operating activities 68,745 -19,988
Cash flows from investing activities:
Proceeds from disposal of investments 50,148 0
Purchase of investments 0 0
Net cash provided by (used in) investing
50,148 0
activities
Change in cash and cash equivalents in
118,893 -19,988
the reporting period
Cash and cash equivalents at the
190,590 210,551
beginning of the reporting period
Cash and cash equivalents at the end of
309,483 190,563
the reporting period
**----- End of picture text -----**
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## **Notes to the financial statements for the year ended 31 December 2024**
## **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) 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 charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – (Charities 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).
As a consequence of the Charity’s income being in excess of £250,000 the accounts are prepared on the accruals basis which represents a change from prior years where a receipts and payments base was used.
Where appropriate comparative figures have been adjusted to recognise the change in base of accounting.
## **Tangible Assets**
## **(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 Parish Halls
- Glebe House
- Sextons 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 in the statement of assets and liabilities 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.
The Parish Centre was built a significant number of years ago. 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 statement of assets and liabilities.
The Glebe House is recognised at deemed cost, being the valuation for insurance purposes. No depreciation has been provided on the Glebe House as the current estimated residual value is not less than it’s carrying value and the remaining useful life currently exceeds 50 years.
The Sextons House is recognised at deemed cost, being the valuation for insurance purposes. No depreciation has been provided on the Sexton House as the current estimated residual value is not less than it’s carrying value and the remaining useful life currently exceeds 50 years.
No reliable records exist of historical fixtures and fittings and as such no value has been attributed to these.
13
## **Notes to the financial statements for the year ended 31 December 2024 (continued)**
## **ii) Investments**
Fixed asset investments comprising investment properties, investments in equities (ordinary shares) and investment in RCB/CIT Unit Trusts are initially recorded at cost and are then subsequently stated at fair value at each year end date. Investments in unquoted investments are recorded at cost and are assessed annually for impairment.
## **iii) Funds**
Funds are classified as either restricted funds or unrestricted 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 earmarked 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 trustees’ discretion to apply the fund.
## **2. 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 factors, 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 estimates or assumptions which may have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year.
14
## **Notes to the financial statements for the year ended 31 December 2024 (continued)**
## **3. Fixed Assets**
|**Fixed Assets**||||||
|---|---|---|---|---|---|
||**Glebe**
**House**||**Sextons**
**House**||**Total**|
|||||||
||**£**||**£**||**£**|
|**Cost**||||||
|At beginningof theyear|375,000||250,000||625,000|
|Additions|0|||||
|Disposals|0|||||
|At end of theyear|375,000||250,000||250,000|
|||||||
|**Depreciation**||||||
|At beginningof theyear|0||0||0|
|Depreciation|0||0||0|
|Disposals|0||0||0|
|At end of theyear|0||0||0|
|||||||
|||||||
|Net book value at 31 December 2024|375,000||250,000||625,000|
|Net book value at 31 December 2023|375,000||250,000||625,000|
|||||||
## **4. Investments**
|Balance at beginning of the year
Additions during the year
Disposals during the year
Fair Value gain / (loss) on investments
Balance at end of the year
**Analysis of Investments**
COI Central Investment Fund
Investments in RB Unit Trusts
**5. Debtors**
Sundry debtors and prepayments
Gift Aid receivable
**6. Creditors due within one year**
Other creditors and accruals
Taxation and Social Security|**Other**
**Investments**
**£**
265,226
0
-50,148
6,971
222,049
43,194
178,855
222,049
3,835
3,415
58,936
29,383
62,771
32,798
**31/12/2024**
**31/12/2023**
168,284
0
0
1,052
168,284
1,052|
|---|---|
15
## **Notes to the financial statements for the year ended 31 December 2024 (continued)**
**7. Movement in Funds**
|**Movement in Funds**|||||||
|---|---|---|---|---|---|---|
|**Endowment funds**|**At 1 Jan 2024**|**Incoming**
**resources**
**Outgoing**
**resources**
**Change in**
**market**
**value**
**Transfers At 31 Dec 2024**|||||
|JN Mellon Bequest
Ven JS Smythe donation
WA King Bequest
W Garvin Bequest
Parish Trusts
Sundry|14,222
4,260
3,341
27,264
5,916
5,238|427|-|234|(427)|14,456|
|||128|-|70|(128)|4,330|
|||99|-|321|(99)|3,662|
|||810|-|2,627|(810)|29,891|
|||176|-|569|(176)|6,485|
|||157|-|314|(157)|5,552|
||60,241|1,797|-|4,135|(1,797)|64,376|
||||||||
|**Restricted funds**
Development fund
**Unrestricted funds**
General fund
Total funds|||||||
||124,444|18,977|0|286|(8,374)|135,333|
||||||||
||||||||
||927,878|345,316|(434,603)|2,548|10,171|851,310|
||||||||
||1,112,563|366,090|(434,603)|6,969|-|1,051,019|
||||||||
## Purposes of Endowment Funds
- Income from the JN Mellon Bequest, WA King Bequest and the W Garvin Bequest is to be used for general Parish funds
- Income from the Ven JC Smythe donation, the cash per Rev C W Frizell, and the Parish Trust is to be used for stipend augmentation.
## Purposes of Restricted Funds
− Development fund: This is a fund to assist with the development and improvement of Parish property.
## Purposes of Designated Funds
- There are no designated funds.
**8. Analysis of Net Assets Among Funds**
|Fixed Assets
Investments
Current Assets
Current Liabilities
**Net assets at 31 Dec 2024**|**General**
**£**
625,000
157,673
236,921
-168,284
851,310|**Restricted**
**£**
0
0
135,333
135,333|**Endowment**
**Total**
**£**
**£**
0
625,000
64,376
222,049
0
372,254
0
-168,284
64,376
1,051,019|
|---|---|---|---|
16
## **Notes to the financial statements for the year ended 31 December 2024 (continued)**
## **10. Transactions with the Trustees**
Clergy are remunerated based upon figures approved by the General Synod of the Church of Ireland. Total cost of the incumbent including pension costs, locomotory and office allowances was £63,664..
No other trustee received any remuneration or reimbursement of expenses in connection with their position as Trustee during the year.
No trustee or a person related to a trustee had any personal interest in any contract or transaction entered into by the charity during the year.
## **11. Governance Costs**
No governance costs were incurred during the year. The independent examiner provided services at no cost to the Parish.
## **12.Taxation**
The Church is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities.
## **13 Change in basis of accounting**
As set out in note 1 the basis of accounting has been changed from a Receipts and Payments basis to an Accruals basis as set out in guidance provided by the Charities Commission of Northern Ireland. Prior year comparatives have been adjusted to provide a better comparison. The adjustments are set out below:
|Total funds as previously reported
Fixed assets now recognised
Accruals and prepayments recognised
Net assets per SORP Accounts
31/12/23 Deficit as previously reported
Accruals and prepayments recognised
31/12/23
Accruals and prepayments recognised
31/12/22
Deficit per SORP accounts|**31/12/2023**
**£**
455,817
625,000
31,746|
|---|---|
||1,112,563|
||**£**
-19,987
31,746
-32,869|
||-21,110|
|||
17