## **St. John’s Drumgath Parish, Rathfriland** 

## **Statement of Financial Activities for the Year ended 31[st] December 2022** 

||**Note**|**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Total Funds**|**Prior Year**<br>**Total Funds**|
|---|---|---|---|---|---|
|**Income and endowments from:**||||||
|Donations and Legacies|**3**|38,830|52,638|91,468|48,066|
|Income from Charitable Activities|**4**|1,076|0|1,076|127|
|Investments|**5**|1,308|0|1,308|1,327|
|Other Income|**6**|28,105|3,483|31,588|48,320|
|**Total Income**||**69,319**|**56,121**|**125,440**|**97,840**|
|||||||
|||||||
|**Expenditure on:**||||||
|RaisingFunds|**7**|5,353|0|5,353|0|
|Charitable Activities|**7**|80,579|1,857|82,436|93,815|
|**Total Expenditure**||**85,932**|**1,857**|**87,789**|**93,815**|
|**Net Income / (expenditure) resources**<br>**before transfers**||**-16,613**|**54,264**|**37,651**|**4,025**|
|||||||
|**Transfers**||||||
|Gross Transfers between funds - in||0|0|0|0|
|Gross transfers between funds – out||0|0|0|0|
|||||||
|||||||
|**Assets, Liabilities**||||||
|Investment/assets||15,614|0|15,614|14,306|
|Other Assets<br>Loan to G. R. C. Development Forum||0|0|0|0|
|Gains on revaluation, fixed assets,<br>charity’s own use||990,000|0|990,000|990,000|
|Liabilities – Creditors||0|-10,000|-10,000|-10,000|
|Net movements in funds||0|<br>0|0||
|||||||
|**Reconciliation of Funds**||**1,005,614**|**-10,000**|**995,614**|**994,306**|
|**Total funds brought forward**||**93,445**|**44,396**|**137,841**|**99,911**|
|**Total funds carried forward**||**1,099,059**|**34,396**|**1,133,455**|**1,094,217**|



11 



St. John's Drumgath Parlsh, Rathfrlland
Statement of Flnancial Posltlon (Balance Sheet) as at 31, December 2022
Note
As * 31.12.22
As ai 31.12.21
FixedAssets
Tan
Ible Assets
Investments
12
13
990,LKJO
15,614
1005 614
990,000
14,306
I,rJM,306
Cash at Bank and in Hand
99,911
Liabilities
Creditors Amounts fallin
due in one
ear
14
10,000
io,L
Net Current Assets
127.841
89,911
Total Assets less Liabilities
1,133,455
1,094,217 1
Total Net Assets less Liabilities
1.133.455
Re
reseftted b
Unrestricted Fund5
Is
1,099.059
1.065.348
Re5trirted Funds
15
34.396
28.869
Total Funds of the Parish
1,133.455
1.094.217
Notes on pages 13 to 17 are an integral part of these financial statements.
The financial statements on pages 4 1 to 12 were approved by the Board of Trustees on 2•- 10 - 23 and is
signed on il's behalf by..
Rev. B. lan Linton
Clergy
,rs Shirley Bennett
Hon. Treasurer
Mrs Irene Magennis
Hon. Secretary
12
12

## **St. John’s Drumgath Parish, Rathfriland** 

## **Statement of Financial Position (Balance Sheet) as at 31[st] December 2022** 

||**Note**|**As at 31.12.22**|**As at 31.12.21**|
|---|---|---|---|
|**_Fixed Assets_**||||
|Tangible Assets|12|990,000|990,000|
|Investments|13|15,614|14,306|
|||**1,005,614**|**1,004,306**|
|||||
|||||
|||||
|**_Current Assets_**||||
|Cash atBank and in Hand||137,841|99,911|
|||||
|**_Liabilities_**||||
|Creditors Amounts falling due in one year|14|**10,000**|**10,000**|
|||||
|Net Current Assets||**127,841 **|**89,911**|
|||||
|Total Assets lessLiabilities||**1,133,455**|**1,094,217**|
|||||
|Total Net Assets less Liabilities||**1,133,455**|**1,094,217**|
|||||
|||||
|||||
|**_Represented by_**||||
|||||
|Unrestricted Funds|15|**1,099,059**|**1,065,348**|
|||||
|Restricted Funds|15|**34,396**|**28,869**|
|||||
|Total Funds of the Parish||**1,133,455**|**1,094,217**|



Notes on pages 13 to 17 are an integral part of these financial statements. 

The financial statements on pages 11 to 12 were approved by the Board of Trustees on __27.10.23___ and is signed on it’s behalf by: 

Rev. B. Ian Linton Mrs Shirley Bennett Mrs Irene Magennis Clergy Hon. Treasurer Hon. Secretary _______________ _______________ _______________ 

13 



## **St. John’s Drumgath Parish, Rathfriland** 

## **Notes to the financial statements for the year 31[st] December 2022** 

## **1. Accounting Policies** 

The principal accounting policies adopted, judgements and key sources 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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

The Parish meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unless otherwise stated in the relevant accounting policy note(s). 

## **b. 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 expectation that it can continue to meet its financial 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 basis as the amount is collected and are allocated as either restricted or unrestricted funds according to the terms of the donation. 

## **d. Expenditure** 

Expenditure is recognised on a cash payments basis. 

## **e. Tangible Assets** 

The assets of the Parish comprise:- 

- Church Buildings and Grounds 

- Parish Hall 

- Rectory 

The Church Building and Grounds are deemed to be Heritage assets as defined by the Charities SORP (FRS 102). These Heritage assets are not included on the balance sheet 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 assets’ residual values and useful lives are reviewed, and adjusted, if appropriate at the end of each reporting period. The effect 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 economic 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 (losses) / gains”. 

## **f. Investments** 

Fixed asset investments comprising investment properties, investments in equities and investment in RCB /CIT 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. Unrealised 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 fair value 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 unrealized gains and losses in investments are reported within “Net Gains / (Losses) on Investments” within the Statement of Financial Activities. 

14 



## **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 within Creditors Amounts falling due within 1 year. 

## **h. Financial instruments** 

The Parish only has financial assets and financial liabilities of a kind that qualify as basic 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 follows: 

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. 

Unrestricted 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 does not legally restrict the trustees’ discretion to apply the fund. 

## **2. Critical Accounting Judgements and estimation uncertainty** 

Estimates and judgements made in the process of preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical judgements made in applying the Parish’s accounting policies or that there are any critical accounting estimates or assumptions which may have significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year. 

## **3. Donations and Legacies** 

||**Unrestricted**|**Restricted**|**Total 2022**|**Total 2021**|
|---|---|---|---|---|
|**FWO**|**29,461**|**5,460**|**34,921**|**39,316**|
|**Plate Collections**|**936**|**0**|**936**|**654**|
|**Tax Recovered on Donations**|**5,368**|**0**|**5,368**|**6,022**|
|**Special Appeals**|**0**|**0**|**0**|**0**|
|**Third Party Appeals**|**1,550**|**0**|**1,550**|**0**|
|**Legacy**|**0**|**47,178**|**47,178**|**0**|
|**Donations**|**1,515**|**0**|**1,515**|**2075**|
|**TOTALS**|**38,830**|**52,638**|**91,468**|**48,066**|



## **4. Income From Charitable Activities** 

||**Unrestricted**|**Restricted**|**Total 2022**|**Total 2021**|
|---|---|---|---|---|
|**Special Fundraising**|**991**|**0**|**991**|**0**|
|**Publications**|**85**|**0**|**85**|**127**|
|**Weddings & Funerals**|**0**|**0**|**0**|**0**|
|**TOTALS**|**1,076**|**0**|**1,076**|**127**|



## **5. Investments** 

||**Unrestricted**|**Restricted**|**Total 2022**|**Total 2021**|
|---|---|---|---|---|
|**Bank Interest**|**0**|**0**|**0**|**0**|
|**Dividends received**|**1,308**|**0**|**1,308**|**1,327**|
|**TOTALS**|**1,308**|**0**|**1,308**|**1,327**|



15 



## **6. Other Income** 

||**Unrestricted**|**Restricted**|**Total 2022**|**Total 2021**|
|---|---|---|---|---|
|**Rectory Land Rent**|**0**|**3,444**|**3,444**|**3,444**|
|**GRC Development Forum**|**598**|**0**|**598**|**0**|
|**Electricity Payment**|**0**|**39**|**39**|**35**|
|**Drumgooland Half Reimbursement**|**726**|**0**|**726**|**1,621**|
|**Viking Refund**|**163**|**0**|**163**|**0**|
|**Half Stipend**|**23,688**|**0**|**23,688**|**23,143**|
|**Other Income**|**0**|**0**|**0**|**400**|
|**Grave Fees**|**250**|**0**|**250**|**300**|
|**Covid 19 Grants Received**|**2,640**|**0**|**2,640**|**19,377**|
|**Bank Refund**|**40**|**0**|**40**|**0**|
|**TOTALS**|**28,105**|**3,483**|**31,588**|**48,320**|



## **7. Analysis of Expenditure** 

|**_Raising Funds_**|**Unrestricted**|**Restricted**|**Total 2022**|**Total 2021**|
|---|---|---|---|---|
|**Fundraising Costs**|**1,467**|**0**|**1,467**|**0**|
|**Office Costs**|**3,846**|**0**|**3,846**|**0**|
|**Bank Fees**|**40**|**0**|**40**|**0**|
|**Bank Interest**|**0**|**0**|**0**|**0**|
|**TOTALS**|**5,353**|**0**|**5,353**|**0**|



|**_Charitable Activities_**|**Unrestricted**|**Restricted**|**Total 2022**|**Total 2021**|
|---|---|---|---|---|
|**Wages and Salaries**|**57,830**|**0**|**57,830**|**56,322**|
|**Diocesan Cost/ Assessment**|**4,838**|**0**|**4,838**|**4,346**|
|**Church Running Costs**|**3,224**|**0**|**3,224**|**1,247**|
|**Hall Costs**|**359**|**0**|**359**|**0**|
|**Grounds – Maintenance**|**269**|**0**|**269**|**1,170**|
|**Rectory and Lands Costs**|**0**|**1,857**|**1,857**|**4,202**|
|**Rates**|**837**|**0**|**837**|**511**|
|**Charitable Donations**|**750**|**0**|**750**|**800**|
|**Third Party Donations**|**1,538**|**0**|**1,538**|**0**|
|**Administration Costs**|**332**|**0**|**332**|**3,532**|
|**Sunday School/Youth Group**|**1,251**|**0**|**1,251**|**0**|
|**Magazines**|**200**|**0**|**200**|**186**|
|**Transfers**|**0**|**0**|**0**|**400**|
|**Church Maintenance**|**119**|**0**|**119**|**2,037**|
|**Defribrilator**|**950**|**0**|**950**|**0**|
|**Covid 19 Holiday Bible Clubs**|**0**|**0**|**0**|**7,108**|
|**Covid 19(Grant) TVpurchased for Creche**|**259**|**0**|**259**|**200**|
|**Covid 19 RHS Chromebook**|**0**|**0**|**0**|**2,870**|
|**Covid 19 Soundlight Set Last Payment**|**935**|**0**|**935**|**1,529**|
|**Streaming Equipment Church/ Lighting**|**1,708**|**0**|**1,708**|**3,000**|
|**Insurance**|**4,076**|**0**|**4,076**|**3,998**|
|**Gift Aid Fees**|**334**|**0**|**334**|**357**|
|**Hygiene Courses Online Drumgath/ Drumgooland**|**630**|**0**|**630**|**0**|
|**Retiring Gift**|**140**|**0**|**140**|**0**|
|**Total Expenditure**|**80,579**|**1,857**|**82,436**|**93,815**|



## **8. Gain / (Loss) on Investment Assets** 

||**Total 2022**|**Total 2021**|
|---|---|---|
|**Realisedgains/ (losses) on investments**|**1,308**|**1,327**|



16 



## **9. Taxation** 

St Johns, Drumgath Parish, Rathfriland is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. 

## **10. Collection for Third Parties** 

||**Total 2022**|**Total 2021**|
|---|---|---|
|**UNICEF Ukraine Appeal**|**500**|**0**|
|**Bishops Appeal**|**347**|**0**|
|**Apprentice Boys **|**192**|**0**|
|**Poppy Appeal**|**0**|**0**|
|**Southern Area Hospice**|**500**|**0**|
|||**0**|
|||**0**|
|**TOTALS**|**1,539**|**0**|



## **11. Analysis of Staff Costs, Trustee Remuneration and Expenses, and the cost of Key management Personnel** 

||**Total 2022**|**Total 2021**|
|---|---|---|
|**Salaries & Wages**|**55,091**|**54,105**|
|**Casual Labour**|**2,739**|**2,218**|
|**TOTALS**|**57,830**|**56,323**|



The average number of employees during the year, calculated on the basis of a head count, was as follows 

|Ministerial Support|**2022**<br>**Number**<br>  1<br>  1|**2021**<br>**Number**<br>1|
|---|---|---|
|||1|



There are no employees in receipt of employment benefits in excess of £60,000 

## **Key Management & Trustees** 

Key management are deemed to comprise the Trustees. 

The parish paid the Rector, who is also a Trustee, a stipend, locomotory and office allowance of £50,114.99 inclusive of a pension of £4,976.04.  This amount includes 50% of his wages which comes from our sister church in Ballyward. 

The following expenses were reimbursed to Trustees: 

|DATE|Trustee Name|Amount|Reimbursement of Expenses|
|---|---|---|---|
|18.03.22|Mrs Shirley<br>Bennett|£95.00|Hot food provided for Youth Fellowship Group|
|24.03.22|Mrs Shirley<br>Bennett|£259.07|TV purchased from Amazon for Creche Room|
|20.04.22|Rev. Ian Linton|£286.39|Stamps, envelopes, palm crosses for Easter Mailing|
|04.07.22|Rev. Ian Linton|£173.00|Booklets purchased for Queens Platinum Jubilee|



17 



|04.07.22|Rev. Ian Linton|£59.95|Sunday School Books for Children’s Day|
|---|---|---|---|
|10.08.22|Mrs Shirley<br>Bennett|£630.00|Online Hygiene Courses booked for Drumgath and<br>Ballyward|
|16.08.22|Mrs Shirley<br>Bennett|£35.94|6 Bottles Communion Wine|
|05.12.22|Mrs Shirley<br>Bennett|£211.48|Amazon purchases for Christmas Messy Church|



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. 

## **12. Tangible Fixed Assets** 

|**Cost**|**Buildings**|**Othe**||**Total**||
|---|---|---|---|---|---|
||**£**|**r**||**£**||
|||**£**||||
|At the Beginning of the Year|990,000||0||990,000|
|Additions|0||0||0|
|Disposals|0||0||0|
|At the End of the Year|990,000||0||990,000|



## **13. Investments** 

|**Cost**<br>Balance at the Beginning of the Year<br>Revaluations during the year<br>Disposals during the year<br>Balance at the End of the Year|**Listed**<br>**Investments**<br>**£**<br>**Non Listed**<br>**Investments**<br>**£**<br>**Total**<br>**£**<br>0<br>14,306<br>0<br>1,308<br>0<br>0|
|---|---|
||0<br>15,614|



## **14. Creditors Amounts Due Within 1 Year** 

||**2022**|**2021**|
|---|---|---|
|Interest Free Loan|10,000|10,000|



## **15. Analysis of Net Assets Among Funds** 

||General Fund|Restricted Funds|Total 2022|
|---|---|---|---|
|Fixed Assets|990,000|0|990,000|
|Investments|15,614|0|15,614|
|Current Assets|93,445|44,396|137,841|
|Current Liabilities|0|10,000|10,000|
|Net Assets at 31stDecember 2022|1,099,059|34,396|1,133,455|



18