Annaclone Parish Church Annual Report and Financlal Statements For the year ended 31st December 2022 Northern Ireland Charities Number: 103295 Annaclone Parish Church References and administrative details Charity Name: Annaclone Parish Church Charity Registration Number: 103295 Contact Address: 46 Kilmacrew Road Banbridge Co. Down BT32 4EP Trustees Mr Robert Simmons Mr David Weir Mr Alan Barr Mrs Enda Barr Mrs Myrtle Weir Mrs Margaret Martin Miss Sharon Martin Mrs Ann Johnston Mr Winston Johnston Mrs Fiona Hanlon Ms Sylvia Cardwell Mr Bertie Cardwell Princlpal Office Bearers Secretary: Alan Barr Treasurer: Mrs Margaret Martin Church Warden - Rector's: Sharon Martin Church Warden - People's: David Weir Independent Examiner S.M. Vint & Co 8 Newry Road Banbridge BT32 3HN Bankers AIB 42-44 Hill Street Newry Co Down BT34 IAU Annaclone Parish Church Trustees Rev Karon Salmon Mr Robert Simmons Mr David Weir Mr Alan Barr Mrs Enda Barr Mrs Myrtle Weir Mrs Margaret Martin Miss Sharon Martin Mrs Ann Johnston Mr Winston Johnston Mrs Fiona Hanlon Mr Bertie Cardwell Ms Sylvia Cardwell Prlncipal Office Bearers Dean: Curate: Rev Karon Salmon Secretary: Mr Alan Barr Treasurer: Mrs Margaret Martin Church Warden- Rector's: Miss Sharon Martin Church Warden - People's: Mr David Weir Independent Examiner S.M. Vint & Co 8 Newry Road Banbridge BT32 3HN Bankers AIB 42-44 Hill Street Newry Co Down BT34 IAU Annaclone Parlsh Church ststement of Financlal Activities for the year ended 31st December 2022 Unrestrfrted Note funds Restrlcted funds Prior year total funds Total funds Incorne and endowments from: Donations and legacie5 Income from charitable activities Investments Other income Totsl Income 14,558 6.646 763 14,558 6.646 763 11,780 5.356 117 853 18.106 21.976 21.976 Expenditure on: Raisin8 Funds Charitable Activities Total expendlture Net income l (expendlture) resources before transfer 243 15,743 15,986 5,990 243 15,743 15.986 5,990 215 8.866 9.081 9,025 Transfers Gross transfers between funds- in Gross transfers between funds- out Other recognised gain511055es Gains I losses on investment assets Gains on revaluation, fixed assets. charity's own use Net movement In funds 5,990 5,990 9,025 Reconciliatlon of funds Total funds brought forward Reserve Movement Total funds carried forward 34,567 34,567 25.542 16 40,557 40,S57 34.567 Annaclone Parish Church Statement of Financial Position / (Balance Sheet) as at 31st December 2022 Note As at 3111212022 As at 3111212021 Flxed assets Tangible assets Investrnent5 12 13 30,000 30,000 30,000 30,000 Current A5set5 Cash at bank and in hand 40.557 40,557 34,567 34,567 Liabllltles Creditors: Amounts falling due in one year 14 Net current assets 40,557 34,567 Total assets less current liabilities 70,557 64,567 Total net assets less Ilabilities 70,557 64,567 Represented by Unrestricted funds 15 70,557 64,567 Restricted funds 15 Total Funds of the Parlsh 70,557 64,567 The notes are an integral part of these financial statements. The financial statements were approved by the Board of Trustees on and signed on its behalf by: cW-0 tha. Margaret Martin - Hon. Treasurer David Weir - Church Warden Anftaclone Parish Church Notes to the financlal statements for the year ended 31 De¢ember 2022 l. Accountlng policies The principal accounting policies adopted, judgements and key source5 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 account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021- (Charities SORP IFRS 102}}, the Financial Reporting Standard applicable In the UK and Republic of Ireland {FRS 1021. The Parish meets the definition of a public benefit entity under FRS 102. Assets and liabilities are Inltially recognised at historical cost and transaction value unless otherwise stated In the relevant accounting pollcy notelsl. b) Preparatlon of accounts on a going concern basls The Parish generally meets its day to day working capital requirements from its annual income. The Trustees have obtalned and reviewed cash flow forecasts for the coming year and based on these are satisfied that the Parish has resources to provide a reasonable expectation that it can continue to meet its financlal obligations as they fall due for the foreseeable future. Therefore these financial statements have been prepared on a going concern basis c) Income Income is accounted for on a cash receipts ba515 as the amount is collected and are allocated as either restritted or unrestrirted funds according to the terms of the donation. d} Expenditure Expenditure is recognised on a cash payments basis. e} Tanglble assets The assets of the Parish comprlse;_ Cathedral Building and Grounds Parlsh Hall The Church Building and Ground5 are deemed to be Heritsge assets as defined by the Charities SORP IFRS1021. These Heritage assets are not included on the balance sheet as informatlon on the cost or valuation is not avallable and such information cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the parish. The assets, residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effert of any change Is accounted for prospectively. Fixtures and Fittings are recognised at cost and are depreciated on a straight line basis over a period of 10 years. Tangible assets are derecognised on disposal or when no future economlc benefits are expected. On disposal, the difference between the new disposal proceeds and the carrying amount is recognised in the statement of financial activities and included in 'Other operating Ilossesl/gains'. fj Investments Fixed asset Investments comprising investment properties, investments in equlties and investment in RCBICIT 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. Unreallsed gains and losses represent the difference between the fair value at the beginning and end of the financial year or. if purchased in the year, the difference between cost and fairvalue 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 / ILosse51 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 with original maturities of three months or less and bank overdrafts, Bank overdrafts are shown withln Creditors Amounts falling due within l year. h) Flnancial instruments The Parish only ha5 financial assets and financial liabilities of a kind that qualify as baslc financial instruments. Basic financial instruments are initially recognised at transaction price and subsequently measured at their settlement value. i) Funds Funds are classified as either restricted funds or unrestricted funds, defined as follow5.. 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. Unrestritted 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 cloes not legally restrict the trustees, discretlon to apply the fund. 2. Critlcal accountlng judgements and estimation uncertalnty Estimates and judgments made in the process of preparlng 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 accounting policie5 or that there are any critical accounting estimates or assumptions which may have a signif icant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year. 3. Donations and legacies Unrestricted Restrlcted Total 2022 Total 2021 FWO Speclal Appeals Donatlons 12,564 1,324 670 14,558 12,564 1,324 670 14,558 11,040 555 185 11,780 éL Incorne from Charitable Actlvltles Unrestricted Restricted Totsl 2022 Total 2021 Speclal Fund Ralslng 6,646 6.646 6,646 6,646 5,356 5,356 5. Investments Unrestrlrted Restrlrted Total 2022 Total 2021 Bank Interest Investment Income 52 711 763 52 711 763 117 117 6. Other Income Unrestricted Restrlcted Total 2022 Total 2021 NIE Wayleave Sundry Income l>onatlons 245 600 853 7. Anatysls of Expenditure Unrestrlcted Re5trirted Totsl 2022 Total 2021 Raising Funds Bank Fees 243 243 243 243 215 215 Charitable Artlvltie5 Wages and salaries Dlocesan Costs / Assessment Congregational Running Costs Organists, Fees & Musician5 Grounds- Maintenance Rates Charitable Donations Missions Administration costs 6,596 3,092 3,661 1,195 311 90 185 6,596 3,092 3,661 1,195 311 90 185 3,172 3,188 860 600 85 loo 613 15,743 613 15,743 861 8,866 Total Expendlture 15,986 15,986 9,081 8. Gain l (Loss) on Investment Assets 2022 2021 Realised gains / (losses) on investments 9. Taxation The Annaclone Parish Church is recognised as a charity for the purposes of applicable taxatlon legislation and is therefore not Subject to taxation on its charitable activities. 10. Analysis of staff costs, trustee remuneratlon and expenses, and the cost of key management personnel 2022 2021 Salaries & wage5 6,596 The average number of employees during the year, calculated on the basis of a head count. was as follows: 2022 2021 Number Number Ministerlal support There are no employees in receipt of employee benefits in excess of £60,000 Key Management and Trustees Key management are deemed to comprise the Trustees. No trustee received any remuneration or reimbursement of expenses 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 Governance costs of £300 were incurred during the year of which £300 relates to fees pald to the independent examiner. Governance costs are included within Adminlstration costs in the Receipts and Payments Accounts. 12. Tangible fixed assets Office Equlpment Buildings Totsl Cost At the beginning of the year Additions Disposals At the end of the year 30,000 30,000 30,000 30,000 The figures noted above do not include a valuation of the church building and grounds as this property and all artefacts contained therein are deemed to be heritage assets, the costlvaluation is not avallable and such information cannot be obtained at a cost commensurate with the benefit to the users of the accounts. 13. Investment5 Listed Investments Non Listed Investments Total Balance at the beginning of the year Revaluations during the year Disposals during the year Balance at the end of the year IQ Credltors Amounts Due within l Year 2022 2021 Bank overdrafts Accrual 15. Analysis of Net Assets Among Funds Restrfcted General Fund Funds 30,000 Total Fixed assets Investments Current Assets Current Liabilities Net Assets at 31 Dec 2021 30,000 40,557 40.557 70,557 70.557 16. ReseThe Movement Restricted General Fund Funds 64,567 5,990 Total Opening Balance Net movement in funds Prior Year Adjustment 64.567 5,990 Net Assets at 31 Dec 2021 70,557 70,557