St. Mark's Parish Church
Statement of Financial Atti¥ities for the year ended 31 D￿mber 2022
Totsl
Fund5
2022
Totsl
Funds
2021
Fund5
nds
2022
Note
Incom
Donation5 & legacies
263.232
56.558
319,79)
282,536
Other trading actwities
20.384
20.384
,164
Investmerrt5
8.332
&332
10.149
Charitable activities
9.013
9.013
3,614
Total Income
300,961
56,558
357,519
311,463
Ex enditure on:
Charitable Artivities
Financial Fees & Charges
Depreciation
Restoration Expenditure
299.450
11,757
3.577
8,454
303,027
20211
258,434
3,614
Totsl Ex endlture
311.207
12.031
323,238
262,048
Net Income/ (Expendlturel before
transfers
-10.246
44.527
34281
49h15
Transfers between funds
Nèt Income/ {Expenditurel before
other recognised galns and losses
-10.246
44,527
49A15
Net m(wernent in fvnd5
-10,246
44,527
34281
49NIS
Reconciliation ot funds:
Totsl funds brou8ht lorward
21
1.509.673
92,674
L602347
1.552,932
Totsl fvnds carried forward
21
IN99N27
137,201
1.636,628
1,602.347
The statement of financial artivitie5 include5 0118ains and losses recognised in the year.
All income and expenditure derive from continuing artNitse&

St. Mark's Parish Church
Statement of Financlal Position /{Balan¢e Sheet) as at 31 Detember 2022
2022
2021
Fixed Assets
Tangible Fixed Assets
Investment Properties
Investments
Total r￿ed Assets
1,276,730
175.CiKI
48.715
1.5(MJ.445
1,200,000
175,000
57,169
1.432.169
14
Current Assets
Debtors & Prepayments
Cash and cash equtvalents
Total Current Assets
16
17
45,958
165,474
211,432
4.717
179,019
183,736
Current LiabilÈties
Creditors & Accruals
Bank Loans
18
7,311
12,182
1,376
13,558
19
Total Current Liabilities
9311
Net Current Assets
202.121
170.178
Lon
Temi Liabilities
Bank Loans
Total Long Temi Liabilities
19
65,938
65,938
Total Net A$5ets
1.636.628
1.602.347
Parfsh Funds
Unrestrirted funds
General funds
Designated funds
Total Unrestricted Funds
21
47,697
1.451.730
1,499,427
134.673
1.375.000
1,509.673
21
Restrirted Funds
Restricted funds
Total Restrlcted Funds
21
137.201
137.201
92,674
92,674
Total Charity Funds
1,636.628
1.602.347
The notes on pages 13 to 20 are an integral part of these financial statements.
The financial statements on pages 11 to 20 were approved by the Board of Trustees on 20 April 2023 and
signed on its behalf by:
Rev Peter Hilton
Trustee
D Phillips
12

St. Mark's Parish Church
Note5 to the Financial Statements for the Year ended 31 December 2022
l. Accounting Policies
The principal accountinE policies adopted. judgements and key souros of estimation or unortainty in the preparation of the
financial statements are as follows=
1.1 Basis of Preparati¢)n
The financial statements have been prepared on a going COn￿M basis in accordance with Accounting aftd Reporting by
Charities.. Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021- (Charities SORP IFRS 1021. the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 102).
The Parish meets the definition of a public benefft entity under FRS 102. A55ets and liabilities are initially recognised at historical
cost and tronsartion value Un￿ otherwise stated in the relevant accounting policy notelsl.
1.2 Preparation of accounts on a going concern basis
The Parish generally meets Its day to day working capital requirements 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 expectatlon that It can continue to meet rts financial obligations as they fall due for the foreseeable frjture.
Therefore these financial statements have been prepared on a 8oing concem basis.
1.3 Incomè
Plate Collection5, Weekly Envelopes and rentsl of the Parish Hall are accounted for on a cash receipts basls as the amount Is
collected. Other donations are reco8nised once the Par￿h has been rM*ified of the donation. Income tax recoverable in relatlon
to donations received under Gift Aid or deeds of tovenant is recognised at the time clalm is submitted to HMRC.
Legacies are included within Income under either unrestricted or restricted funds attordin8 to the ternis 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.
Income arising from the rentsl of investment properties to third partie5 is recognised vthen the parish has
entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
1.4 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.
1.5 Tongible assets
The assets of the Parish comprise:_
The Church Buildin8
The Parish Centre
The Rectory- BelFast Road
The Curatsge- Londonderry Road
13

Church Building:
The Church BuildÈn8 is deemed to be a Heritsge asset a5 defined by the Charitres SORP IFRS1021.
This accounting policyforthis asset is outlined in note 1.6 below.
The Parish Centre and RectOTf.
The Parish Centre is recognised at cost. The Rectory is recognised at deemed cosL
No depreciation is provided on these as the current estimated residual value 15 not less than the carrying
value and the remainÉng useful lrfe Currently exceeds 50 years.
The Curatsge
This property was originally used for the residen￿ of the Curate. This property has been
let at a commerical rent and has the￿fOre been treated as an investmert property. The accounting policy for
this asset is o￿lined in note 1.7 below.
Equipment:
Equipment is Included at cost and depreciated on a straight Ilne basis over 4 years.
A dimini5 for capitslisation of £1.500 is applied.
Tangible assets are derecognised on dispo￿1 or when no f￿Ure economic benefrts are expected. On disposal.
the difference between the new disposal proceeds and the carrying amount is recognised in the statement
of financial 3ctNities and Included In 'Other operating Ilossesllgains.
L6 Heritage assets
The Church Bullding is deemed to be a Heritage asset as defined by the Charitie5 SORP IFRS1021. This asset IS
not included on the balance sheet as information on the c051 or valuation is not available and such information
annot be obtained at a cost commensurate wtth the benefft to the users of the accounts and to the Parish.
1.7 IDve5tment propertles
Fixed asset investments comprising investment Properties are initialty recorded at co# and are then
subsequently stated at fair value at each balance sheet date. Unreali5ed gains and1055e5 represent the
difference between the fair value at the beginning and end of the finanoal year or. If purchased in in the year,
the difference beI￿veen cost and fair value at the end of the year. Realised Bains and losses represent the
difference between the pro￿ed$ on disposal and the fair value at the start of the year or cost rf purchased in
the year.Both realised and unrealised gains and losses in investments a￿ ￿pOrted within'Net Gains/lLossesl
on Investments, within the Statement of Financial ActNities.
1.8 Cash and cash equl¥alents
Cash and cash equivalents Includes cash in hand. deposrts held at call wtth bank5. Other short-tem hrghfy liquid investments with
original maturlties of three months or less and bank overdrafts. Bank overdraft5 are shown within Creditors- Amounts f?Iling
due within l year. Loans with a duration of more than 12 months are split between current and long term liabilitie5.
1.9 Financial instNments
The Parish onty has financial assets and financial liabilities of 3 kind that qualrfy as basic financial
inrtruments. Basic financial instruments are inittally recognrsed at transaction price and subsequent￿1
measured attheir settlement value.
1.10 Taxation
St. Mark's Parish Church is recognised as a charity for the purposes of applicabte taxation legislation and is
therefore not subject to taxation on its charitsble activities.
1.11 Retirement beneffts
Payments to defined contribution retirement benefft sthemes are charged as an expense as they fall due.
14

1.12 Fund5
Fund5 are classffied as either restricted funds or unrestrirted funds. defined as follows:
Restrirted Fun
s.. The Selett Vestry has defined the Restoration Fund as restritted funds as these have been generated through
separate donations from parishloners to undertake physical restoration works to the Church and Porish centre.
Endowment Funds: are funds which have been grven 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. The Parish has no endownment
fund5.
Unrestrirted Funds: are expendable at the discretion of the Trustees in fvrtherdnce of the objects of the charity. If parts of the
unrestricted fijnds are earmarked at the discretion of the Trustees for a particular purpose, they a￿ designated as a separate
fund. This designation has an administratNe purpose only and does not le8ally restrict the Tru5Lees' discretion to apply the fund.
2. Critical accounting judgements and estimation uncertainty
Estimates and judgments made In the process of preparing the financial ststements are continually evaluated and are based on
historical experience and other factors. including expectation5 of fLrture events that are believed to be rea50nable under the
circumstances. The Trustees do not consider that there are any critical judgments made in applying the Parlsh's accounting
policies orthot there are any crrtical accounting estimates or assumptions which may have a si8nificant risk of causing a material
adjustment to carrying amounts of assets and liabiltties within the next financial year.
15

SL Mark's Parish Church
Notes to the financial Statements for the Year Ended 31 December 202Z
AD￿v$5S of Incorne
Fund5
Funds
Fund5
Total
2022
20U
3. Donations and le¢aties
Weekly envelopes / FWO
Gift Md
Grants
124593
4L187
17591
142,184
4L187
138.219
Donations
68519
15,470
13.463
263.232
70,565
25.662
Glen CC
io,L
25.470
37.263
wwcc
56558
319,790
282,536
Renta15frgm Parish Centre
8T Refund
10,945
4.219
.164
20.384
20.384
The Curatage- rèntsl Income
RCB Trust income
Bank intèrest
6,439
699
6.439
6.509
390
Increase In FV of investments
L757
Legacy investrnent income
525
525
8,332
8.332
10.149
Gazette Income
160
i&)
187
Ev•nts
8,853
8.853
3,427
3,614
9.013
9.013
A￿1¥515 Ot Expenditure
7. CharStable Athvit5es
Salaries and Wa8es In¢)te 111
Di￿san costs
171.267
39394
17L267
39.394
48,958
20.C81
L851
11899
8.567
40.575
27.728
17,635
13,040
B,S91
Prèmises costs
General Parish nJnnin8 costs
Charitable donations
19,997
1,851
12.899
Glen CC costs
WWCC eosts
299.450
3.$77
303.027
258,434
& Hnandal Fees & Charyes
Bank Char8es and Interest
Accountancy & IE
Decre35e in fair value of investrr*nt
Professional fees
5250
5250
8.454
IL757
8.454
20.211
3,614
9. Depreciab
Equipment
16

10 Taxation
St Mark'5 Parish Church is recognised as a charity for the purpos￿ of applicable taxation legislation and is therefore not subject
to taxation on its charttable activities.
11. Analysis of Staff costs, Trustee remuneration and expenses, and the cost of Key Management Personnel
Employees
2021
Clergy Stipend and Allowances
Clergy Employer5 Nl
Staff Salaries
stsff Employers Nl
Nest pension
81,505
87.539
5,382
52,553
3,059
2,332
150,865
74,579
4,651
Total
171,267
The average number of employees durfn8the year, calculated on the basis of a head count, was as follows:
2022
2021
Number
P4umber
Mlnlsterial support
Administrdtion
There are no employees In receipt of employee benefrts in excess of £60,CKM).
12 Key Management and Trustees
Key management are deemed to comprise the Trustees. The parish paid expenses of £4,244 relating to the
running costs of the Rectory house which is occupied by the rector.
During the year the Clergy receNed stipends and allowances of £81.505 and the ministers for the Church Plants
Centre received salaries of £53.998. No othertrustee or a person retated to a tnjstee had a personal interest
in any corrtract or transartion entered into by the charty during the year.
17

13 Tangible fixed assets
Freehold land
and buildings
Equipment
Totsl
At Cost
At l January 2022
Additions
1,2CKJ,O(KI
426,730
1.200.OCIJ
426.730
Revaluation
Disposals
At 31 December2022
350,C(K)
350.fxKI
1,276,730
1.276,730
Depreciation
At l January 2022
Depretiation
Disp05als
At 31 December 2022
Net Ix>ok value at 31 December 2022
L276,730
1276.730
Net book value at 31 t)ecember 2021
1.200.(
1,200,(Mx)
Freehold land and buildings consist of the followlng properties:
Church building- this asset is not included on the balance sheet as the infomatlon on the cost or
valuation Is not available and such infomiation cannot be obtsined at a cost commensurate with the
benefrt to the users of the accounts and to the parish. Accordingty the Church building is deemed to be a
Heritage asset as defined by the Charities SORP IFRS102}. (At 31 Ottober 2022. the sum insured for the
Church building and wntents was £6.224.598).
The Parish Centre and The Rettory are recognised at cosL
No depreciation is provided on these assets as the current estimated residual value is not less than
the carryirtr8 value and their remalning useful lrfe exceeds 50 years.
14 Investment Properties
Totsl
Falr Value
At l January 2022
Addition5
Gain / Loss
Di5P05als
At 31 December 2022
175.0(WJ
175.LKM)
175MKI
175,000
The investment property. The Curatsge. Londonderry Road. Newtownard5.F5 held to earn rentsls. The year end
valuation of the property was carried out by the trustee5 and is based on refe￿nce to market evidence
of transcations for similar properties in the area.
18

15 Investments
Fair Value
At l January 2022
Increaselldecreasel in fair value
At 31 December 2022
57,169
-8,454
48.715
16 Debtor5 & Prepaymerrts
2022
2021
Debtors
41.416
Prepayments
4.542
45.958
4.717
4,717
17 Analysis of ￿$h and osh equi¥alents
2022
2021
Cash in hand
Notice deposits (less than 30 days)
C￿erdraft facilty repayable on demand
Total ￿$h and cash equivalents
165,474
179.019
165,474
179,019
18 Credltors & Accruals
2021
Creditors
2.681
4,630
7,311
10.208
1.974
12,182
Accruals
19 Bank Loans
2022
2021
Due within 12 Months
L376
Due after 12 Month5
65.938
67.938
1.376
20 Retirefflent benefft schemes
The parish operates a defined contribution pension scheme for all qualrfying employees. The assets of
the scheme are held separatelyfrom those of the parish in an independently administered fund.
19

21 Funds of the Parish
At l Jan 2022
Trdnsfers
At 31 Dec 2022
Restricted funds
Building fund
RJ Coulter Trurt
22558
15,694
48,715
34,720
106
57,169
36.720
8,454
Stained glass window fund
Jigsaw
GCC EA yO￿h grant fund
GCC Childrens & Orphans
WWCC Childrens & Orphans
WWCC Priorf(ies fund
WWNN Mind Matters
West Wind5 project fund
1,128
1,128
io,oc
io,oJo
8,517
3.8
4.521
io.(
iO.(KJ)
io.(
1,483
4,521
91674
56.558
12.031
137,201
Unre5trfcted lund5
General fijnd
134.673
3(rf)361
311.207
-76.730
47.697
Deslgnated funds
Property fund
Investment property
Equipment Fund
Building Fund
I.2￿,(￿
175.(KKI
76.730
1,276,730
175,COJ
1,509,673
3CM).961
311,207
1.499.427
Total funds
1.602,347
357,519
323.238
1,636,628
Purpose of restrkted fvnds
These funds are to support 5peofic projects as noted above forwhith fund5 were wen and restrirted in their use
to those projects.
Purpose of designated fvnds
Property fund= thi5 fund is in relaiion to the Parish Centre and the Rectory.
Investrnent fund.. this fun(J is in relation to the investrnent property The Curatage. Newtownard&
8uilding fund: this fund is in relation to building development projert&
20