Annaclone Parish Church
Annual Report and Financial Statements
For the year ended 31st December 2023
Northern Ireland Charities Number: 103295

Annaclone Parish Church
Statement of Financial Artivities for the year ended 31st December 2023
Unrestrirted
funds
ReStyirted
funds
Prior year
total funds
frlote
Total funds
Income and endowmentsfrom:
Donations and Segacies
Income from charitable activities
Invesiments
Other incorne
Total income
33.418
11.082
2.176
35.594
11,082
584
14,558
6.646
763
45,084
2,176
47,260
Expenditure on:
Raising Funds
Charitable Activities
Total expenditure
Net income / {expenditurel resources before transler
130
26.047
26.177
18.907
130
28,223
28.353
18.907
243
15,743
15,986
5,990
2,176
2.176
Transfers
Gross transfers between funds- in
Gross transfers between funds- out
Other recognised gaSns/losses
Gains I losses on investment a55et5
Gains on revaluation, fixed assets. charity'5 own use
Net movernent in funds
18.907
18,907
5,990
Reconciliation of funds
Total funds brought forward
Reserve Mo¥ement
Total funds carrled forward
40.557
40,557
34,567
16
59,464
59,464
40,557

Annaclone Parish Church
Statement of Financial Position / {Balance Sheet) as at 31st December 2023
Note As at 3111212023
As at 3111212022
Fixed assets
Tangible assets
Investments
12
13
30,000
30.tM)o
30.OCX)
30,000
Current Assets
Cash at bank and in hand
59.464
59.464
40,557
40,557
Liabilities
Creditors.. Amounts falling due in one year
14
Net current assets
59.464
40.557
Total asset5 less current liabilities
89.464
70,557
Total net assets less liabilities
89,464
70,557
Represented by
Unrestricted funds
15
89,464
70,557
Restricted funds
15
Total Funds of the Parish
89,464
70,557
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-
Margaret Martin - Hon. Treasurer
Rev Karen Salmon

Annaclone Parish Church
Notes to the financial staternentsfor the yearended 31 D￿ernber2023
l. Accounting pollcies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation
of the financial statements are a5 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 charitie5 preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP IFRS
10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.
The Parish meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised
at historical c05t and tran5artion value unless otherwise stated in the relevant accounting policy notels).
bl Preparation of accounts on a going concern basis
The Parish generally meets its day to day working capital requirement5 from its 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
resources to provide a reasonable expectation that it can continue to meet it5 financial obligations as they fall due
for the foreseeable future. Therefore these financial statements have been prepared on a going concern basi5
c} Income
Income 15 accounted for on a cash receipts basis as the amount is collected and are allocated as either restricted or
unrestricted funds according to the term5 of the donation.
d) Expendlture
Expellditure is recognised on a cash payments ba51S.
el Tangible assets
The assets of the Parish compri5e-_
Church Building and Grounds
• Parish Hall
The Church Building and Grounds are deemed to be Heritage a55et5 as defined by the Charities SORP IFRS1021.
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 benefit to the users of the accounts and
to the parish.
The assets, residual values and useful live5 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 a55ets are derecognised on disposal or when no future economic benefits are expected. On disP05al, the
difference between the new disposal proceeds and the carrying amount is recogni5ed in the statement of financial
activities and included in 'Other operating Ilossesl/gains'.
fj Investments
Fixed asset investments comprising investment properties. investments in equities and investment in RCBICIT Unit
Trusts are initially recorded at cost and are then 5ub5equently stated at fair value at each balance sheet date.
Investments in unquoted investments are recorded at C05t and are assessed annually for impairment. U nrealised
gains and losses represent the difference between the fair value at the beginning and end of the financia l year 01, if
purchased in the year, the difference between cost and fair value at the end of the year. Realised gain5 and1055es
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 gain5 an(4 losses in investments are reported within 'Net Gain5 1
IL05ses1 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 bar)k5. Other short-terrn highly liquid
investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within
Creditor5 Amounts falling due within l year.
h) Financial instruments
The Parish only has financial assets and financial liabilities of a kind that qualify a5 basic financial instruments. Basic
financial instrumènt5 are initially recognised at transaction price and subsequently measured at their settlement
value.
i) Funds
Funds are tl3ssifiÈd as either restf Icted funds or unrestrirted fund5, defined as follows-
Restricted funds are funds subject to specific requirement5 a5 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.
Unrestricted fund5 are expendable at the discretion of the trustees in furtherance of the objetts of the charity- If
parts of the unrestricted fund5 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
tru5tees' discretion to apply the fund.
2. Critical accounting judgements and estimation uncertalnty
Estimates and judgments made in the process of preparing the financial statements are continually
evaluated and are based on historical experience and other factor5. including expectations of future
event5 that ale 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.
3. Donation5 and legacies
Unrestrirted Restricted
Total 2023
Total 2022
FWO
Gift Aid
Special Appeals
Dor)ations
15,095
10.475
15,095
10,475
165
9,859
35,594
12,564
165
2,011
2.176
1,324
670
14.558
7.848
33.418
4. Income from Charitable Activities
Unrestrirted Restricted
Tolal 2023
Total 2022
Special Fund RaisinE
11,082
11,082
11,082
11.082
6,646
6,646
5. Investments
Unrestricted Restricted
Total 2023
Totsl 2022
Bank interest
Investment Income
79
505
79
505
584
52
711
52

6. Other Income
Unrestrirted
Restricted
Totsl 2023
Total 2022
NIE Wayleave
Sundry Income
Donation5
7. Analysis of Expenditure
Unrestricted Restrirted
Total 2023
Total 2022
Raising Funds
Envelopes
130
130
130
130
243
243
Charitable Activities
Wages and salaries
Diocesan Costs / Assessment
Congregational Running Costs
Organists, Fees & Musicians
Grounds - Maintenance
Rates
Charitable Donations
Missions
Administration costs
7.716
3,318
9.095
1.130
788
Ic
3,250
7,716
3,318
11,106
1,130
788
loo
6.596
3,092
3,661
1,195
311
90
185
2.011
165
3.415
650
26.047
650
28,223
613
15.743
2.176
Totsl Expenditure
26,177
2.176
28,353
15,986
8. Gain / {Loss) on Investment Assets
2023
2022
Realised gains / Ilossesl on investments
9. Taxation
The Annaclone Parish Church is recognised as a charity for the purposes of applicable taxation legislation and is
therefore not subject to taxation on its charitable activities.
10. Analysis of staff costs. trustee remuneration and expenses. and the c05t of key management personnel
2023
2022
Salaries & wages
7.716
6,596
The average number of employees during the year, calculated on the basis of a head count. was as follows..
2023
2022
Number
Number
Ministerial 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 OT 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 £360 were incurred during the year of which £360 relates to fees paid to the independent
examiner. Governance costs are included within Administration costs in the Receipts and Payment5 Accounts.
12. Tangible fixed assets
Offlce
Equipment
Buildings
Total
Cost
At the beginning of the year
Additions
Disposa15
Atthe end ofthe year
30,000
30,000
30.000
30,OIyJ
The f igure5 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 available and such
information cannot be obtained at a cost commensurate with the benefit to the users of the accounts.
13. Investments
Listed
Investments
Non Listed
Investments
Totsl
Balance at the beginning of the year
Revaluations during the year
Disposals during the year
Balance at the end of the year
14. Creditors Amounts Due within l Year
2023
2022
Bank overdrafts
Accrual

15. Analysis of Net A55ets Among Funds
Restrirted
General Fund Funds
30,000
Total
Fixed assets
Investments
Current Assets
Current Liabilities
Net Assets at 31 Dec 2023
30,000
59,464
59,464
89.464
89.464
16. Reserve Movement
Restrirted
General Fund Funds
70.557
18,907
Total
Opening Balance
Net movement in fund5
Prior Year Adjustment
70,557
18.907
Net Assets at 31 Dec 2023
89,464
89,464