CHARITY REGISTRATION NUMBER: NIC103473 Christ Church Kilkeel Unaudited Financial Statements 31 December 2023 PURDY QUINN Chartered accountants Northern Bank House 42 Greencastle Street KILKEEL Co Down BT34 4BH
Christ Church Kilkeel Financial Statements Year ended 31 December 2023 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 21 Notes to the detailed statement of financial activities 23
Christ Church Kilkeel Trustees, Annual Report Year ended 31 December 2023 The trustees present their report and the unaudited financial statements ofthe charity for the year ended 31 December 2023. Reference and administrative details Registered charity name Christ Church Kilkeel Charity registration number NIC103473 Principal office Clo Ms Joan Linden 24 Millvale KILKEEL Co Down The trustees Rev A Calvin Ms J Linden Mrs G E Chambers Mrs S Johnston Miss M S Teggarty Mr l J Henderson Mr D O Henderson Mrs K A Campbell Mr A S Tomkins Mr A E Charleton Mr D J Charleton Mr T O Hanna Mr J E Henderson Mr A Graham Mrs K Henderson Mr S Henderson Mr M Nicholson Mr G McAtee Mf G Chambers (Appointed April 2024) (Resigned April 2024) (Resigned April 20241 (Appointed April 2024) (Appointed April 2024) Independent examiner Purdy Quinn 42 Greencastle Street KILKEEL Co Down BT34 4BH
Page 1 Christ Church Kilkeel Trustees. Annual Report (continued) Year ended 31 December 2023 Structure. governance and management Governing Document and Constitution of the Charity Chapter111 of the Constitution of the Church of Ireland governs Parishes and Parochial Organisation. The Select Vestry members are the Charily Trustees. Recruitment and Appointment of Select Vestry (Trustees) All members of the Church of Irelarld who are over the age of 18 and are eithef 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 Ihis 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. Organisational Structure The Select Vestry is responsible for the day-to-day management of the parish. The Select Vestry consists of the member of the clergy servirlg in the parish, Rector's Warden, Hon. Treasurer, Hon. Secretary, People's Warden and generally not more than e1ve other members of the General Vestry elected at the General Vestry meeting. 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 chairpersor) or the churchwardens In 2023 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 activities entered into during the year have helped to achieve the Parish's objectives and activities, as well as providing public benefit. Objectives and activities The charitable purpose of the Church of Ireland is the advancement of religion. The principal function of the Church of Ireland is to support the advancement of the Christian religion by promoting, through the work of the Christ Church Kilkeel 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, the Church Of I reland Kilkeel Parish 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 the Christ Church Kilkeel.
Page 2 Christ Church Kilkeel Trustees, Annual Report (conlinued) Year ended 31 December 2023 Achievements and performance The Church of Ireland in general and Christ Church Kilkeel in particular meets the public benefit requirement by providing benefit to ils members and the general public by making known the Christian Gospel of the Lord Jesus Christ through the advancement of religion. The direct benefits which flow from the purposes of the Church include the gaining of an understanding in Christian beliefs as set out in the Bible and in the Church's subordinate teachings at times such as baptism. confirmation and marriage leading to spiritual and moral development and opportunities for response to Bible teaching. In turn, this framework leads to practical expressions of Christian beliefs and standards in the local community such as through the care of those in need {including the sick, disabled and bereaved). Generally, the above benefits are delivered locally in a parish context but from time lo time a Diocesan context will be in place. Local delivery can be facilitated by central resources in some cases. Public access is made known through the use of noticeboards, printed material, press advertisement, websites, social media, personal invitation or in other ways. The benefits are demonstrated Ihrough regular feedback (formal and ad-hoc} from members, their families, and members of the public. The beneficiaries of this purpose are members, their families, other individuals that the Church of Ireland is in direct and indirect contact with, the community in which pastoral services are provided and other communities throughout the world via missionary agencies and individuals reached and benefiting from the work of Christ Church Kilkeel. While prayer is a part of our worship services, other prayer activities such as prayer ministry, prayer triplets and occasionally prayer on the street are all activities available to and benefiting the whole community. The prayer triplets, initiative is a recent development and over 50 triplets have been formed and are being nurtured currently. Children, Young People, the Elderly and Families attending and not attending the regular services offered by the parish are welcomed along to activilies and organisations held in our facilities. Links with statutory groups and other community groups is also prominent in the parish, and a reflection of our ability and desire to integrate with and serve the whole community in the distinctive manner that being a Church of Ireland Parish lends itself to. Full attention is given to relevant Child Protection and Vulnerable Adult legislation - compliance with the Church of Ireland Safeg uarding Trust policy is given. An archive of records is available to the public on request for no fee. Public enjoyment of cultural and historic buildings and artefacts, such as church plate, furnishings and materials as well as an overall improved appreciation of longstanding Christian heritage is a real public benefit and something Christ Church Kilkeel promotes. for example, visiting local schools and local schools visiting our church buildings. Through conservation efforts in respect of records, property and artefacts, links with the past are saved and greatly appreciated by many in the wider society we inhabit. The beneficiaries are the congregation and the general public. The public valuation of the benefits can be evidenced through attendance at public worship and the activities and Ofganisations linked directly and indirectly to Christ Church Kilkeel. Any private benefit arising out of the fulfilment of our Christian Ministry or to our lay staff is essential to the fulfilment of the purpose of Ihe advancement of religion. No member of the Select Vestry receives remuneration, reward or other private benefit for carrying out their Select Vestry responsibilities
Page 3 Christ Church Kilkeel Trustees. Annual Report (continued) Year ended 31 December 2023 Financial review The Gongregation's main source of income is members, contributions Ihiough the Weekly Freewill Offering. However, during the year additional funds were raised towards the cost of a building project which was commenced towards the end of the current year. Total Income of the congfegation during the year was £269,728 (2022 - £356,004}. The expenditure for the year was £231,049 {2022 £196,844). The reserves of the Charity at 31 December 2023 totalled £922,932 {2022 - £879,924). Reserves Policy The Trustees have considered the level of unrestricted reserves that is appropriate to hold, taking account of current and ongoing commitments. It is the policy of the Trustees to hold at least three month's normal expenditure. At the year end unrestricted reserves were £132,96012022 - £109,201) which represents a higher level of reserves. The Trustees however. consider il prudent to hold reserves at this level as the funding of its present activities is dependent on the ongoing financial support of its members. Going Concern The Select Vestry have reviewed the finances for the year ahead and are satisfied that Ihere are adeq uale funds in place to ensure that the Parish can continue its activities and the financial slatements for the year ended 31 December 2023 can be signed off as a going concern. The trustees, annual report was approved on 28 October 2024 and signed on behalf of the board of trustees by.. Rev A Calvin Trustee Ms J Linden Trustee
Page 4 Christ Church Kilkeel Independent Examiner's Report to the Trustees of Christ Church Kilkeel Year ended 31 December 2023 I report to the trustees on my examination of the financial statements of Christ Church Kilkeel I'the charity,) for the year ended 31 December 2023. This report is made solely to the charity's Trustees, as a body, in accordance with section 65{3llal of the Charities Act Northern Ireland 2008 and regulations made under section 66 of that Act. My work has been undertaken so that I might state to the charity's Trustees those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. Responsibilities and basis of report As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act (Northern Ireland) 2008 (the '2008 Act,) You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination. It is my responsibility to. examine the financial statements under section 65 of the Charities Act-, follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65{9)Ibl of the Act, and state whether particular matters have come to my attention. Basis of independent examinerfs report I have examined your charity financial statements 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 Llnder 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 financial statements, and seeking explanations from you as charity Trustees concerning any such matters Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.. accounting records were not kept as required by with section 63 of the 2008 Act., or the financial statements do not accord with those records., or the financial statements do not comply with the accounting requirements of the 2008 Act., or the financial statemenls do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities {Accounts and Reports} Regulations 2008 other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independent examination. I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. PURDY QUINN Chartered Accountants 42 Greencastle Street Kilkeel BT34 4BH Ind Gareth Chartere nt Examiner ans FCA Accountants Ireland Date 28 October 2024
Page 5 Christ Church Kilkeel Statement of Financial Activities Year ended 31 December 2023 2023 Restricted Endowment funds funds Total funds 2022 Unrestricted funds Total funds Note Income and endowments Donations and legacies Charitable activities Investment income Other income 185,712 27,320 38,870 12,374 3,449 2,000 224,584 39,694 3.450 2.000 294,470 58,110 3,424 Total income 213,034 56,693 269.728 356,004 Expenditure Expenditure on charitable activities 188,475 42,573 231.049 196,844 Total expenditure 188,475 42,573 231,049 196,844 Net gains on investments 16 4,329 4,329 Net income 24.559 14,120 4,329 43,008 159.160 Transfers between funds (800) 800 Other recognised gains and losses Net gains1( losses) on investments (13,068) 146,092 Net movement in funds 23,759 14,920 4,329 43,008 Reconciliation of funds Total funds brought forward Total funds carried forward 109,201 132,960 673.702 97,021 879,924 733,831 688,622 101,350 922,932 879,923 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 7 to 20 form part of these financial statements.
Page 6 Christ Church Kilkeel Statement of Financial Position 31 December 2023 2023 2022 Note Fixed assets Tangible fixed assets Investments 15 16 600,312 131,350 599,861 127.021 731,662 726,882 Current assets Debtors Cash al bank and in hand 17 28,416 167,052 29,747 210,865 195,468 240,612 Creditors: amounts falling due within one year Net current assets 18 4,198 2.570 191,270 238,042 Total assets less current liabilities 922,932 964, 924 Creditors: amounts falling due after more than one year Net assets 19 85,000 922,932 879,924 Funds of the charity Endowment funds Restricted funds Unrestricted funds 101,350 688,622 132,960 97,021 673,702 109,201 Total charity funds 23 922,932 879,924 These financial statements were approved by the board of trustees and authorised for issue on 28 October 2024, and are signed on behalf of the board by.. Rev A Calvin Trustee Ms J Linden Truslee The notes on pages 7 to 20 form part of these financial statements.
Page 7 Christ Church Kilkeel Notes to the Financial Statements Year ended 31 December 2023 General information The charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is 24 Newry Street, Kilkeel, Co Down. BT34 4DN. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 10211 and the Charities Act (Northern Ireland) 2008. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Transition to FRS 102 The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2020. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on theif expenditure declared by the donor or through the terms of an appeal and fall into one of sub-classes.. restricted income funds or endowment funds.
Page 8 Christ Church Kilkeel Notes to the Financial Statements (continued) Year ended 31 December 2023 Accounting policies (continuod) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless Ihis is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of seNices is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unsperlt, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings oflhe statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable tfading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets The assets of the Parish, retained for its own use, comprise the following.. The Church Building and Graveyard are deemed to be Heritage assets as defined by the Charities SORP IFRS102). 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.
Page 9 Christ Church Kilkeel Notes to the Financial Ststements fcontinued) Year ended 31 December 2023 Accounting policies (continued) Tangible assets (continued) Carginagh Church is deemed to be Heritage assets as defined by the Charities SORP (FRS1021. 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 Church Hall is physically not attached to the heritage assets but is centred within the church grounds. Given its location it is the opinion of the Select Vestry that 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. Cornerstone House is not physically attached to the heritage assets but is connected to the church grounds. It is the opinion ofthe Select Vestry that 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. Rectory this property stands on its own grounds and could be placed on the open market without breaching any tefms of Trust governing that property. Hence the rectory is valued at a deemed cost equivalent to the market value of similar type properties in the locality as determined by the Select Vestry. Fixtures, Fittings & Minibus are recognised at cost and are depreciated at 15 % on a straight line basis over a period of 6.67 years Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Fixtures and fittings Motor vehicles 15 % straight line 15 % straight line The Rectory is recognised at deemed cost, being the estimated fair value of the Property at 31 December 2023. No depreciation has been provided on the rectory as the current estimated residual value is not less than it's carrying value and the remaining useful life currently exceeds 50 years. Investments Unlisted equity Investments are initially recorded at cost, and subsequently measured al fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Investment property Investment property is stated at its fair value at each reporting date and any changes in fair value are recognised in income or expenditure.
Page 10 Christ Church Kilkeel Notes to the Financial Statements (continued) Year ended 31 December 2023 Accounting policies (contlnuedj Impairment of fixed assets A review for indicalors of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible lo estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generaling unit to which the asset belongs. The cash-generating unit is Ihe smallest identifiable group of assets that includes the asset and genefates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill. the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating unils that are expected to benefit from the synergies of the combination, irrespeclive of whether other assets or liabilities of the charity are assigned to those units. Government grants Government grants are recognised at the fair value of the asset received or receivable Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance~related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Defined contribution plans The charity operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
Page 11 Christ Church Kilkeel Notes to the Financial Statements (continuedj Year ended 31 December 2023 4. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations Freewill Gift Aid Offertories Gift Day Sundry donations Money in lieu of flowers Graveyard fees Missions Harvest Gift Aid Interest Diocese of Dromore & Down Special Collections Youth Fellowship 129,171 24,965 2,744 129.171 28,616 2,744 7,775 41,530 100 2,015 825 8,673 535 3,651 7,775 23,919 100 17.610 2,015 825 8,673 535 Grants Sundry Grants receivable Building Grants Grants receivable- Church Capital Repairs 2,600 2,600 185,713 38,870 224,584 Unrestricted Funds Restricted Total Funds Funds 2022 Donations Freewill Gift Aid Offertories Gift Day Sundry donations Money in lieu of flowers Graveyard fees Missions Harvest Gift Aid Interest Diocese of Dromore & Down Special Collections Youth Fellowship 119,508 21,846 2,599 119,508 30,372 2,599 13,535 25,533 8,526 13,535 23,910 1,623 2.965 2,965 1,056 7,540 136 1,510 1,565 251 1.056 7,540 136 1,510 1,565 251 Grants Sundry Grants receivable Building Grants Grants receivable - Church Capital Repairs 2,900 70,000 15,000 2,900 70,000 15,000 159,543 134,927 294,470
Page12 Christ Church Kilkeel Notes to the Financial Statements (continued) Year ended 31 December 2023 Charitable activities Unrestricted Funds Restricted Total Funds Funds 2023 Hall rental income Sunflower Fields & Crafts Fundraisinglcoffee morning Mums & Toddlers Funeral Teas Girls Brigade Boys Brigade 704 17.396 704 27,770 10,374 3,920 2,020 3,280 3,920 4,020 3,280 2,000 27,320 12.374 39,964 Unrestricted Funds Restricted Total Funds Funds 2022 Hall rental income Sunflower Fields & Crafts Fundraisinglcoffee morning Mums & Toddlers Funeral Teas Girls Brigade Boys Brigade 100 100 40,412 1,144 1,097 700 7,248 7,409 40.412 1,144 1,097 700 5,248 7,409 2,000 14,554 43,556 58,110 Investment income Unrestricted Funds Restricted Total Funds Funds 2023 Income from listed investments - Dividends & Carginagh Investment Bank interest receivable 3,449 3,449 3,449 3,450 Unrestricted Funds Reslricled Total Funds Funds 2021 Income from listed investments - Dividends & Carginagh Investment Bank interest receivable 3,417 3,417 3.417 3,424 Other income Restricted Funds Total Funds 2023 Restricted Funds Total Funds 2022 Gain on disposal of tangible assets
Page13 Christ Church Kilkeel Notes to the Financial Statements (continued) Year ended 31 December 2023 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Advancing Christianity Support costs 184,331 4,144 41,979 594 226,313 4.736 188,475 42,573 231,049 Unrestricted Funds Restricted Total Funds Funds 2022 Advancing Christianity Support costs 155,586 5,061 37,501 696 191,087 5,757 160,647 38,197 196,844 Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2023 Total fund 2022 Advancing Christianity Governance costs 226,313 2,260 2,476 228,573 2,476 194,971 1,873 196,844 226,313 4,736 231,049 10. Analysis of support costs Analysis of support costs Total 2023 Total 2022 Premises Communications and IT General office Finance costs Governance costs- Accountants fees 256 388 786 1,830 2,474 256 388 786 1,830 2,474 156 669 891 2,067 1.872 5,734 5.734 5,655 11. Net income Net income is stated after charging/(crediting)'. 2023 2022 Depreciation of tangible fixed assets Gains on disposal of tangible fixed assets 5,117 (2,0001 7,570
Page 14 Christ Church Kilkeel Notes to the Financial Statements (continued) Year ended 31 December 2023 12. Independent examination fees 2023 2022 Fees payable to the independent examiner for-. Independent examination of the financial statements 600 600 13. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows- 2023 2022 Wages and salaries Employer contributions to pension plans 69,487 6,441 61,976 7.153 75,928 69,129 The average head count of employees during the year was 4 {2022.' 4) The average number of full-time equivalent employees during the year is analysed as follows.. 2023 No. 2022 Number ofstaff - type 1 Number of staff - type 2 Number of staff - type 3 No employee received employee benefits of more than £60,000 during the year (2022. Nil). 14. Trustee remuneration and expenses The Minister of the congregation, Rev Alison Calvin, is a Iruslee of the charity The Minister received remuneration of £49,478 (2022 £42,925) which includes allowances of £7,000 (2022 £3,890), office allowance £80012022 £800) A pension contribution £3,051 (2022 £2,798) under Net Pay arrangement together with a locomotory allowance of £2,700 (2022 - £2,700) is also paid in her capacity as the Minister of the congregation. An employer's pension contribution of £3,390 12022 - £2,939) was also paid to the Church of Ireland Pension Scheme in respect of Rev A Calvin. Trustees D & A Charleton {through their building company) successfully tendered for the Church building project which commenced towards the end of 2021. The payments made lo F J Charlelon Building Contractors Ltd during the 2023 year amounted to £Nil 12022 £305,540} These payments were made on a commercial basis. The trustee D Henderson {through his IT & Design company) received a total of £210 (2022 £165) on a commercial basis. No other trustees received any remuneration, and no other trustees claimed any expenses during the year in connection with their duties.
Page 15 Christ Church Kilkeel Notes to the Financial Statements (continued) Year ended 31 December 2023 15. Tangible fixed assets Freehold Fixtures and property rittings Motor vehicles Total Cost Al 1 January 2023 Additions 574,298 46.565 5,568 4,000 624,853 5,568 At 31 December 2023 574,298 52,133 4,000 630,431 Depreciation At 1 January 2023 Charge for the year At 31 December 2023 21,936 4,517 3,6066 600 25,002 5,117 26,453 3,666 30,119 Carrying amount At 31 December 2023 574.298 25,680 334 599,861 Al 31 December 2022 574,298 24,629 934 599,861 16. Investments Investment Other listed properties investments Total Cost or valuation At 1 January 2023 Additions Fair value movements 30,000 97,021 127,021 4,329 4.329 At 31 December 2023 30.000 101,350 131,350 Impairment At 1 January 2023 and 31 December 2023 Carrying amount At 31 December 2023 30,000 101,350 131,350 127,021 At 31 December 2022 30,000 97,021 All investments shown above are held at valuation. Listed investments The aggregate market value of listed investments is £101,35012022'. £97,021). Investment properties Investment property consists of farmland, approximately 3 acres, which was bequeathed to the church many years ago. The Trustees have valued this property at a market value of £10,000 per acre i.e £30,000 in total. The Trustees consider this value has not changed significantly in the past few years and is not in excess of the open market value for the propety.
Page 16 Christ Church Kilkeel Notes to the Financial Statements (continued) Year ended 31 December 2023 17. Debtors 2023 2022 Other debtors 28,416 29,747 18. Creditors: amounts falling due within one year 2023 2022 Trade creditors 4.198 2,570 19. Creditors: amounts falling due after more than one year 2023 2022 Other creditors 85,000 20. Pensions and other post retirement benefits The Rector of the congregation is a member of the Church of Ireland DC Pension Scheme for Clergy in Northern Ireland. In addition to the current years contributions to this pension fund, In order to secure the solvency of the Fund a levy has been paid by each Diocese with effect from 1 June 2013. The total amount paid is as follows.. 2023 2022 Employer's contributions Pension Levy Total pension contributions paid 3,021 3,925 3,110 4,043 6,946 7,153
Page 17 Christ Church Kilkeel Notes to the Financial Statements (continued) Year ended 31 December 2023 21. Analysis of charitable funds Unrestricted funds At 1 Jan 2023 Gains and At losses 31 Dec 2023 Income Expenditure Transfers General funds Youth Fellowship Fund Mums & Toddlers Fund Bowling Club Fund Building Fund Graveyard Fund Funeral Teas Fund Sick & Poor Fund Motor vehicle Fixtures & Fittings Boys Brigade Girls Brigade Community Allotments Fund Ladies Fellowship Fund 78,271 188,119 1172.0441 1800) 93,546 1,290 500 (201 1,770 1,497 3,820 (3,727) 1,590 232 1,264 7,027 232 1,264 8,992 2,015 150) 4,598 22 934 7,405 2,919 3,742 3,920 {1,755 6,673 22 334 5,029 1,049 4.546 (600) (2,376) (5,149) {1,276} 3,279 2,080 4,476 (71} 4,405 4,825 (1,407) (188,475) 3,418 109,201 213,034 1800) 132,960 At 1 Jan 2022 Gains and At losses 31 Dec 2022 Income Expenditure Transfers General funds Youth Fellowship Fund Mums & Toddlers Fund Bowling Club Fund Building Fund Graveyard Fund Funeral Teas Fund Sick & Poor Fund Motor vehicle Fixtures & Fittings Boys Brigade Girls Brigade 72,420 155,603 {144,115) 15,6381 78,271 1,094 251 {810) 755 1,290 726 1,922 {1,650) 498 1,497 232 1,364 4,827 232 1,264 7,027 (100) (765) 2,965 4,080 22 1,534 7,442 707 (190) 4,598 22 934 7,405 2,919 3,742 1600} {3,8091 {5,1021 (1,5061 1158.647) 3772 613 7,408 5,248 93,741 174,104 109,201
Page 18 Christ Church Kilkeel Notes to the Financial Statements (continued) Year ended 31 December 2023 22. Analysis of charitable funds (conlinued) Restricted funds At 1 Jan 2023 Gains and At losses 31 Dec 2023 Income Expenditure Transfers Building Fund Carginagh Land Church Property Fixtures & Fittings Gift Aid - Building Fund Donations Mums & Toddlers Foodbank Investment income Boys Brigade Girls Brigade 40,772 30,000 574,299 17,225 26,638 (17,763) 8,701 53,348 30,000 574,299 15,084 {2,141) 7,901 3,451 11,199 17,901) 3,451 {11,199) 3,505 7,356 {3,421) 7,440 3,449 2,600 2,000 (3,449) (2,600} (2,0001 673,702 56,693 (42,573) 800 688.622 At 1 Jan 2022 Gains and At losses 31 Dec 2022 Income Expenditure Transfers Building Fund Carginagh Land Church Property Fixtures & Fittings Gift Aid- Building Fund Donations Mums & Toddlers Foodbank Investment income Boys Brigade Girls Brigade 162,024 30,000 313,449 2,240 168,006 (18,6311 1270.627) 40,772 30,000 574,299 17,225 260,850 18,146 {3,161} 16,269 {8,368) 7,901 1,056 1,550 4,071 11,056) 11,550) {6,189) 5,623 3,505 393 3,417 1,800 2.000 {3,810) {1,800} (2,0001 {38,197) 529,998 181,900 673,702
Page 19 Christ Church Kilkeel Notes to the Financial Statements (conlinuedj Year ended 31 December 2023 23. Analysis of charitable funds (conlinued) Endowment funds At 1 Jan 2023 Gains and At losses 31 Dec 2023 Income Expenditure Transfers Inveslments 97,021 4,329 101.350 At 1 Jan 2022 Gains and At losses 31 Dec 2022 Income Expenditure Transfers Investments 110,089 (13,068) 97.021 Investments are made up of the following 2023 2022 RBC Investments- RB General Unit Trust INI} Church of Ireland Trustees - CIT Unit Trust Diocesan Board of Education - Educational Endowments Ilreland) Scheme 89- pro rata share of units 10,467 395 10,162 377 90.488 86,482 97,021 Valuations as at 31 December 101,350 24. Analysis of net assets between funds Unrestricted Funds Restricted Endowmenl Total Funds Funds Funds 2023 Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 10,931 589,381 30,000 69,239 600,312 131,350 195,468 14,198} 101,350 126,229 (4,198} 132,962 688,620 101,350 922,932 Unrestricted Funds Restricted Endowment Total Funds Funds Funds 2022 Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 8,339 591,522 30,000 137,180 599,861 127,021 240,612 12,570) (85.000) 879,924 97.021 103,432 (2,5701 {85,0001 673,702 109,201 97,021
Page 20 Christ Church Kilkeel Notes to the Financial Statements fconlinued) Year ended 31 December 2023 25. Capital commitments As at 31 December 2023 all construction work undertaken in connection with the building of the annex to the church, which commenced in 2021, was fully completed and fully paid up. As at 31 December 2023 there are no capital commitments.
Christ Church Kilkeel Management Information Year ended 31 December 2023 The following pages do not form part of the financial statements.
Page 21 Christ Church Kilkeel Detailed Statement of Financial Activities Year ended 31 December 2023 2023 2022 Income and endowments Donations and legacies Freewill Gift Aid Offertories Gift Day Sundry donations Money in lieu of flowers Graveyard fees Missions Harvest Diocese of Dromore & Down Gift Aid Interest Special Collections Youth Fellowship Donation for window repair Grants receivable - Church Capital Repairs Sundry Grants receivable Government grant income 129,171 28,616 2.744 7.775 41,530 100 2,015 825 8,673 119,508 30,372 2,599 13,535 25,533 2,965 1,056 7,540 1,510 136 1,565 251 535 85.000 2,900 2,600 224,584 294,470 Charitable activities Hall rental income Sunflower Fields & Crafts Fundraisinglcoffee morning Mums & Toddlers Funeral Teas Boys Brigade Girls Brigade Exceptional income from charitable activities 704 27,770 100 40,412 1,144 1.097 700 7,409 7,248 3,920 3,280 4.020 39,694 58,110 Investment income Income from listed investments - Dividends & Carginagh Investment Bank interest receivable 3,449 3,417 3.450 3,424 Other income Gain on disposal of fixed assets held for charity's own use 2,000 2,000 Total income 269.728 356,004
Page 22 Christ Church Kilkeel Detailed Statement of Financial Activities (continued) Year ended 31 December 2023 2023 2022 Expenditure Expenditure on charitable activities Wages and salaries Pension costs Rates and water Light and heat Repairs and maintenance Insurance Motor vehicle expenses Legal and professional fees Telephone Other office costs Depreciation other interest payable and similar charges Web & Internet costs Subscriptions to Missions & Charities Speakers FWO Envelopes Sunday School Costs Girls Brigade Boys Brigade Messy Church & Holiday Bible Club CCI Licencing Special Appeals Photocopier Charge Diocesan CostslAssessment Sundry Expenses Mums & Toddlers Sundry donations to charities Funeral Teas costs 200th Anniversary Youth Fellowship Sunflower Fields Expenses Graveyard expenses. Foodbank costs 69,487 6,441 2,560 12,340 22,811 7,387 2,726 2,476 723 2,652 5,117 2,423 210 36,681 435 1,180 1,444 4,414 9,520 61,976 7,154 2,213 10,132 8,230 6,419 2.029 1,873 1,216 2,026 7,570 2.168 36,322 1,745 1,100 634 4,857 7,864 630 1,204 1,018 12,228 12,839 2,625 2,758 1,718 617 12,180 4,334 2,322 1,402 190 850 790 614 702 6.111 1,736 1,120 3,350 (231,049} (196,844} Total expenditure 231,049 196,844 Net gains on investments Gain on disposal of fixed assets held for charity's own use {4,329) {4,329} Net income 43,008 159,160
Page 23 Christ Church Kilkeel Notes to the Detailed Statement of Financial Activities Year ended 31 December 2023 2023 2022 Expenditure on charitable activities Advancement of Christianity Activities undertaken directly Wageslsalaries Pension costs Rates & water Light & heat Repairs & maintenance Insurance Motor vehicle expenses Telephone Other office costs Depreciation Bank charges Web & Internet costs Subscriptions to Missions & Charities Speakers FWO Envelopes Sunday School Costs Girls Brigade Boys Brigade CCI Licencing Photocopier Charge Diocesan CostslAssessment Sundry Expenses Mums & Toddlers Sundry donations to charities Funeral Teas costs 200th Anniversary Youth Fellowship Sunflower Fields Expenses Graveyard expenses. Foodbank costs 69,487 6,441 2,560 12,340 22,555 7,387 2,726 335 1,866 5,117 1,593 210 36,681 435 1,180 1,444 4,414 9,520 630 1.018 12,228 12,839 2,625 2,758 1,718 61,976 7,154 2,213 10,132 8,074 6,419 2,029 547 1,135 7,570 36.322 1,745 1,100 634 4,857 7,864 1,204 617 12,180 4,334 2,322 1,402 190 850 790 614 702 6.111 1.736 1.120 3,350 226,313 191,087 Support costs Repairs & maintenance Telephone Other office costs Other interest payable and similar charges 256 388 786 830 156 669 891 2,168 2,260 3,884 Governance costs Legal and other professional fees 2,476 1,873 Expenditure on charitable activities 231,049 196,844