St. Mark's Parish Church
5tstement of Financial Artivities for the year ended 31 December 2023
Total
Fund5
2023
Total
Funds
2022
Funds
2023
nds
Note
Income
Donations & legacie5
251,509
43.015
294,524
319.790
Other trading activities
18.160
.160
20,384
Investments
8.831
9.215
8.332
Charitsble activities
8.896
9.013
Totsl Income
287.396
43.399
330.795
357,519
enditure on:
Charttable Activities
Financial Fees & Charges
Depreciation
Restoration Expenditure
294.384
22.155
48,264
303.027
20.211
21155
Totsl Ex
enditu
316,539
48,264
364.803
323,238
Net Incomel (Expendlture) beforè
transfers
-29,143
4.865
34.281
Transfers between funds
Net Incomel IExpendlture) before
other recognised gains and losses
-29.143
4,865
34,281
Net movement In funds
-29,143
4,865
34281
Reconciliatit)fi of fvnds:
Total funds bro￿ht forward
21
L499,427
137,201
1.636,628
1.602.347
I funds carried forward
21
1,470,284
132.336
1.602.620
1,636,628
The ststement of financial activitie5 includes all gains and losses recognised in the year.
All income and expenditure derive from continuing artivitres.
10

5t. Mark's Parish Church
ststement of Financial Position /(Balance Sheet) as at 31 December 2023
2023
2022
Fixed Assets
Tangible Fixed Assets
Investment Properties
Investments
13
14
1.276.730
175,OLY)
49.099
1,5CIJ,829
1,276,730
175.OCKI
48,715
1.500,445
Total Fixed Assets
Current Assets
Debtors & Prepayments
Cash and cash equivalents
Total Current Assets
16
58.571
122,248
180,819
45.958
165.474
211.432
17
Current Liabillties
Creditor5 & AccruaSs
Bank Loans
Total Current Liabilitles
18
19
13,510
2,420
15,930
7,311
2,000
9,311
Net Current Assets
164.889
202,121
Terni Liabillties
Bank Loans
Total Long Terni Llabilitles
19
63.098
63,098
65,938
65,938
Total Net Assets
1.602,620
1,636,628
Parish Funds
Unrestrirted funds
General funds
Designated funds
Total Unrestricted Funds
21
18.554
1.451.730
1.470.284
47,697
1,451,730
1,499,427
21
Restricted Funds
Restricted funds
Total Restrirted Funds
21
132,336
132.336
137,201
137,201
Total Charity Funds
1.602,620
1.636,628
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 March 2024 and
signed on its behalf by=
Rev Canon Gill Withers
D Phillips
Trustee
Trustee

St. Mark's Parish Church
Notes to the Financial Statements for the Year ended 31 December 2023
l. Accounting Policies
The principal accounting policies adopted* judgements and key sources of estimation or uncertainty in the preparation of the
financial statements are as follows..
1.1 Basis of Preparation
The financial Statements have been prepared on a going concem basis in accordance wrth Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance wf(h the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 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 benefrt entty under FRS 102. Assets and liabilities are inttially reco8ni5ed at historical
ost and transaction value unless otherwise 5tsted in the relevant accounting policy notelsl.
1.2 Preparation of accounts on a going COn￿M basis
The Parish generally meets its day to day workin8 capital requirements from rfs 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
reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable fvture .
Therefore these financial statements have been prepared on a going concern basi&
1.3 Income
Plate Collertions. week￿ Envelopes and ￿ntaI of the Parlsh Hall are accounted for on a tash receipts basis as the amount Is
collected. Other donations are recognised once the Parish has been notified of the donation. Income tax recoverable in relation
to donatlons received under Grft Aid or deeds of rovenant is recogni5ed at the time claim is submitted to HMRC.
Legacies a￿ included within Income under either unrestricted or restricted funds according to the tems under which the
donation is made and when the amount can be quantified with rèasonable certainty. t)onations and gifts in kind are brought
into the accounts at thelr fairvalue to the Parish.
Income arising from the rental of investment properties to third pèrties is recognised when the parish has
entitlement to the funds, it is probable that the income will be received and the amourt can be measured reliably.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive oblwion 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 reliab￿.
1.5 Tangible a55ets
The assets of the Parish comprise:_
The Church Building
The Parish Centre
The Rertory- Belfast Road
The Curatsge- Londonderry Road
12

The Chur¢h Buildinf.
The Church Building is deemed to be a Heritage asset as defined by the Charities SORP IFRS102).
This accounting policy for this asset is outlined in note 1.6 below.
The Parish Centre and Re¢rorr.
The Parish Centre is recognised at cost. The Rectory 15 recognised at deemed c05t.
No depreciation is provided on these as the current estimatsd ￿idUal value is not less than the carrying
value and the remaining useful life currently exceeds 50 years.
The Curatage
This property was originally used for the residence of the Curate. This property has been
let at a commerical rent and has therefore been treated as an investment property. The accountin8 policy for
this asset 15 Outlined in note 1.7 below.
Equipment:
Equipment Is included at cost and depreciated on a straight line basis over 4 years.
A diminls for opitalisation of Él,SIXI is applied.
Tangible assets are derecognised on disposal or when no future economic benefrts are experted. On disposal,
the difference between the new disposal proceeds and the tarrying amount is recognised in the ststement
of financial activitles and included in 'Other operating11055esl/gains.
1.6 Heritsge assets
The Church Building is deemed to be a Herits8e a55et a5 defined by the Charities SORP IFRS1021. This asset is
not included on the balance sheet as information on the cost or wdluation is not available and such inforn)ation
cannot be obtsined at a c05t commensurate with the benefrt to the users of the accounts and to the Parish.
1.7 Investment properties
Fixed asset investments comprislng investment properties are Inltlalty recorded at cost and are then
subsequently stated at fair value at each balance sheet date. un￿alIsed gains and1055es represent the
difference between the fair value at the beginning and end of the financial year or. rf purchased in in the year,
the difference belNfftn cost and fair value at the end of the year. Realised gains and l¢)55es represent the
difference between the pr¢xeeds on diswsal and the fair value at the 5tsrt of the year or cost rf purchased in
the year.Both realised and unrealised gains and los￿ in investments are reported within'Net GainsllLosses)
on Investments. within the Statement of Flnancial Attrvrties.
Cash and cash equirdlents
Cash and cash equivalents includes cash in hand, deposits held at call with banks. other short-tenn highly liquid investments with
original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within Creditors- Amounts falling
due within l year. Loans with a duration of more than 12 months are split between current and long tem liabilities.
1.9 financial Instrnments
The Parish only has financial assets and financial liabilities of a kind that qualfy as basic financial
inrtruments. Basic financial instruments are initially recogni5ed at transaction price and subsequentlv
measured at their settlement value.
1.10 Taxation
St. Mork's Parish Church is recognised as a charity for the purposes of applicable tsxation legislation and ts
therefore not subjettto taxation on its charttsble activities.
1.11 Retirement beneffts
Payments to defined contribution retirement benefrt xhemes are charged as an expense as they fall due.
13

1.12 Funds
Funds are classified as either restricted funds or unrestricted funds. defined as follow5=
Restricted Fund5'. The Selett Vestry has defined the Restoration Fund as restricted funds as these have been generated through
separate donations from parishioners to undertake physical restoration works to the Church and Parish centre.
Endowment Fund5: are funds whith have been given on the condition that the original capital Sum is not reduced, but the
income there from is used forthe purpose defined in accordance with the objects of the Parish. The Parish ha5 no endownment
funds.
nrestricted Funds: are expendable at the discretion of the Trustees in furtherance of the objects of the charity. If parts of the
unrestrirted funds are earmarked at the discretion of the Trustees for a particular purpose. they are designated as a separate
fund. This designation ha5 an administrative purpose only and does not legal￿ restritt the Tru5tees' discretion to apply the fund.
2. Critifal aecounting judgements and estlmation uncertainty
Estimates and judgments made in the process of preparfng the financial Statements a￿ continually evaluated and are based on
historical experience and other factors. including expectation5 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 crttical accounting estimates or assumptions which may have a slgnlficant risk of causin8 a material
adjustment to carrying amounts of assets and liabiliivds Within the next financial year.
14

St. Mark's Parish Church
Notes to the Financial Statements for the Year Ended 31 D￿rnber 2023
A￿1¥$15 of Incorne
Funds
Fund5
Funds
Total
2023
2023
Donation5 and le8aci•s
Weekly envelopes l FWO
Gift Aid
Grants
124510
38233
17.297
15318
141.807
53,551
142.184
41.187
Donations
Glen CC
10.4MX)
73.686
25.470
37,263
319,79)
12.438
12.438
19.220
294.524
wwcc
19.220
251.509
43.015
4. Othtrtradlrrf •C¢i¥tti*s
Rentals from Parfsh Centre
4)
18,160
20,384
.If
,160
20,384
5. In¥•simeThts
The Curatage- rental incom*
RCB Trust income
Bank interest
Incrèase in FV of Invesbxènts
Legacy inve5trnent Income
6.780
734
6.780
734
6,439
699
366
669
951
951
525
8.831
9.215
8.332
Gazette Income
Events
135
160
8.761
8.761
8,896
8,853
9,013
8m6
An•tysis ot EKpÈnditur*
7. tharitable A¢tlvltl•s
Salaries and Wages Inote 111
Diocesan costs
159.374
31.463
63J81
58
159.374
31.463
99.981
18.459
10.709
IL188
11.474
342,648
171.267
39.394
48.958
20.091
1.851
12,899
.567
303.027
Premises costs
General Parish njnnlftg costs
Charitable donatlons
Glèn CC costs
ioi
10,709
5333
5.766
294.384
5855
WWCC costs
48,264
& financial Fees & Charges
Bank Charges and Interest
Accountsncy & IE
Deerea5e in fairvalue of Investment
ProfÈs5ionzl fees
5250
1551
1551
L440
8,454
5,067
20,211
22,155
9. Depreoation
Equiprnent
15

10 Taxation
St Mark's Parish Church is recOgn￿ed as a charty for the purposes of applicable taxation legislation and is therefore not subjert
to taxation on its charitsble artivities.
11. Analysis of Staff costs. Trustee remunerntion and expenses. and the cost of Key Management Personnel
Employees
2023
2022
Clergy Stipend and Allowances
Clergy Employer5 Nl
Staff Salaries
stsff Employers Nl
Nert pension
65,027
6,152
80.620
81,505
74.579
4.651
1.670
159.374
Totsl
171.267
The average number of employee5 during the year. calculated on the basis of a head counL was as follows:
2023
2023
Number
Number
Ministerial support
Administration
There are no employees in recelpt of employee benefits in excess of £60,CKKI.
12 Key Management and Tnstees
Key management a￿ deemed to comprise the Trustees. The parish paid expen5e5 of £5.788 relating to the
running costs of the Rettory house which is occupied by the rector.
Ouring the year the Cler8y receNed stipends and allowances of £65,027 and the ministers for the Church Plants
Centre received salaries of £61,472. No other twstee or a person related to a trustee had a personal interest
in any contract or transattion entered into by the charty during the year.
16

13 Tangible fixed a55ets
Freehold land
and buildings
Equipment
Total
At Cost
At l January 2023
Additions
1.276.730
1.276,730
Revaluation
Disposals
At 31 December 2023
1,276,730
1,276.730
Depreciation
At ljanuary 2023
Depreciation
Disposals
At 31 December 2023
Net book Ydlue at 31 December 2023
1,276.730
1,276.730
Net book value at 31 December 2022
1.276,730
1.276,730
Freehold land and buildings consist of the following properties:
Church building- this a55et Is not Included on thè balance sheet as the infomation on the ci)5t or
valuatlon is not available and such information cannot be obtsined at a c05t commensurate with the
benefit to the users of the accounts and to the parish. According￿ the Church bullding Is deemed to be
Herits8e a55et as defined by the Charities SORP {FRS1021. {At 31 Ortober 2023. the sum insured for the
Church building and contents was £7,193.3021.
The Parish Centre and The Rectory are recognised at cost.
No depreciation is provided on these assets as the current estimated residual value ts not less than
the carrying value and their remaining useful lrfe exceeds 50 years.
14 Investment Properties
Investment
Properties
Total
Fair Value
At l January 2023
Additions
Gain l Loss
Disposa15
At 31 De￿rnber 2023
175.C
175.(XXI
175.lJOO
175.1MM)
The investment property, The Curatage. Londonderry Road. Newtownards,is held to eam rentats. The year end
valuation of the property was carried out by the trustees and is based on refe￿nce to market evidence
of tran5cations for similar properties in the area.
17

15 Investments
Investments
Fair Value
At l January2023
Increase/{decreasel in fair value
At 31 D￿mber 2023
48,715
49.099
16 Debtors & Prep•yments
2023
2022
Debtors
Prepayments
53.551
5,020
58,571
41,416
4,542
45,958
17 Analysis of cash and cash equfvalents
2023
21)22
Cash in hand
Notice deposits Ile55 than 30 days)
Overdraft facility repayable on demand
Tatal cash and cash equivalents
122,248
165,474
122,248
165,474
18 Creditors & Accruals
2023
Creditors
2.232
11,278
2.681
4.630
7,311
kcruals
13,510
19 Bank Loans
Due wtthin 12 Months
Due after 12 Months
2.420
63,098
65,518
65.938
67,938
20 Retirement benefft schemes
The parish operates a defined contribution pension scheme for all qualifying employees. The assets of
the scheme are held separatety from those of the parish in an independently administered fund.
18

21 Funds ofthe Parish
At ljan 2023
Trdnsfers
At 31 Dec 2023
Restricted fund5
Building fund
FU Coulter Trust
15.694
48.715
34.720
106
37A15
53,109
49,099
3.720
Stained glass window fund
JSg5aW
GCC EA Youth grantfvnd
GCC Children5 & Orphans
WWCC Childrens & Orphans
WWCC Priorrties fund
36.fJXI
1,128
io.cb)
io.rAM)
8517
1,128
4.145
9,208
5.213
2,188
4.521
132.336
5,855
792
WWCC Mind Matters
West Wind5 project fund
1,612
4,521
137,201
43.399
48,264
Unrestrirted fu
General fund
47,697
287.396
316.539
18.554
DeSI￿ated funds
Property fund
Investment property
Equipment Fund
Building Fund
1.276.730
17S.(
1.276,730
175,000
1,499,427
287.396
316,539
1,470,284
Totsl lunds
1.636,628
330,795
364,803
1,602,620
Purpose of restricted funds
These funds are to support specific projects as rboted abrye for whith funds were 8l¥en and restricted in their use
to those projects.
Purpose oldes1￿d funds
Property fund: this fund Is in relation to the Parish Centre and the Rertory.
Investment fund.. this fijnd is in relation to the investment property The Curatsge, Newtownard
Building fvnd.. this fund is in relation to bulldin8 development projertk
19