CHARITY REGISTRATION NUMBER: 103482 St Paul's Parish Church Unaudited Financial Statements 31 December 2022 NIALL FARRELL FCA Chartered accountants Farrell Accountants Limited 16 Upper Square Castlewellan Co Down BT319DD St Paul's Parish Church Financial Ststements Year ended 31 December 2022 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Accounting policies Notes to the financial statements St Paul's Parish Church Trustees. Annual Report Year ended 31 December 2022 The trustees present their report and the unatsdited financial statements of the charity for the year ended 31 December 2022. Reference and admlnistrative details St Paul's Parish Church Registered charity name Charity registration number Principal office 103482 Castlewellan Co Down BT319PN The trustees Rev B S Cadden Mrs M M Hamilton Mr S W Mcconnell Mr W Pritchard Mr M McNeill Mrs J Kelly Mrs J Bingham Miss L Simpson Mrs M Mcclurg Mrs M Keown Mr J Goslyn Mr G Musgrave Mrs J Watson Mr J McBride Mrs D McBride Mrs V Canavan (Retired 5 May 2022) (Retired 5 May 2022) (Retired 5 May 2022) (Appointed 5 May 2022) (Appointed 5 May 2022) (Appointed 5 May 2022) Independent examiner Niall Farrell FCA Farrell Accountants Limited 16 Upper Square Castlewellan Co Down BT319DD Structure, governance and management Governing Document and Constitution of the Charity Chapter111 of the Constitution of the Church of Ireland governs Parishes and Parochial Organisations. The Select Vestry members are the Charity Trustees. St Paul's Parish Church Trustees. Annual Report (conllnued) Year ended 31 December 2022 Structure. governance and management (conlinued) Recruitment and Appointment of Select Vestry (Trustees) All members of the Church of Ireland who are over 18 and are resident within the parish or living elsewhere but have been members of the congregation for three years may register as members of the general vestry of the parish allowing them to stand for election to the Select Vestry. Meetings of the General Vestry are held at least once a year and members elected to the Select Vestry for an initial period of one year although in practi￿ there is no limit to the time which may be served, and members reolected especially in a small parish where members normally serve several years. Pay and remuneration The incumbent of the Parish is paid £33.311 with a locomotory allowance of £6,590 and office expenses of £800 per annum as approved by the General Synod of the Church of Ireland with the parish now paying 500/0 of these costs and Bryansford parish paying the same percentage since appointment of a new minister in November 2022. During the period of the vacancy from July 2021 to November 2022 the parish was just responsible for paying travelling expenses for the relief clergy who officiated each Sunday. Organisational Structure The Select Vestry is responsible for the day to day to day running of the parish with the serving minister as Chairman assisted by the other members in the Select Vestry in posts such as Secretary, Treasurer, Churchwarden and Glebe warden. The members meet on a regular basis to decide on any matters affecting the running of the parish. The Rural Dean chaired these meetings during the period of the vacancy. Objectives and activities The principal function of the parish is to support the advancement of the Christian religion and to promote all functions including regular worship and communicating the advancement of religion through caring for all in the community especially the sick and elderly. St Paul's Parish Church Trustees, Annual Report l¢ontinu¢dJ Year ended 31 December 2022 Achievements and perfomiance st Pauls was built by the Annesley family and consecrated in 1853 possessing memorials, architectural features and stained-glass windows of artistic merit which enrich the experience of worshipers and visitors to the church and adjoining graveyard. Wfith the custody of historical records, the parish provides a source for research, and these are accessible to anyone seeking information on births, deaths, marriages, baptism etc. Although no incumbent was in post from July 2021 to November 2022 weekly worship continued with relief clergy and use of online media including a Facebook page and communication to all members throughout the period of the vacancy with support from the Area Dean. The church is assessable to all irrespective of gender, ethnicity. ability class or creed and during the year visits were made by many including an historical society and oversea visitors enquiring about family connections and graveyard records. All statutory responsibilities were met to ensure Health and Safety and Child Protection policies were adhered to. A major repair to the tower was completed during the year with the help of a grant from Treasure Ireland meeting about 250/0 of the total cost of the scheme and all other necessary maintenance to the church and grounds carried out. Perhaps the main achievement during the year was keeping the church open for worship each Sunday and the support provided by the Rural Dean and retired clergy was much appreciated by the Select Vestry and the parishioners in addition to the sterfing efforts of the bishop in securing a new minister. With the very welcome appointment of the Reverend Pat Kerr, we look fotward with much optimism to the next few years and developing of activib.es which were restncted during Covid and the period of the vacancy. Financial review At the end of the reporting period the Churches financial position remains sound due to the significant legacies left by two much valued members and from the generosity of the congregation in increasingly difficult financial times. The trustees, annual report was approved on 22 May 2023 and signed on behalf of the board of trustees by.. 900 Mr M McNeill Trustee Mrs J Watson Trustee St Paul's Parish Church Independent Examiner's Report to the Trustees of St Paul's Parish Church Year ended 31 December 2022 I report to the trustees on my examinatioy of the financial statements of St Paul's Parish Church {'the charity,) for the year ended 31 December 2022. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the fi'nancial 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. I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directs'ons given by the Charity Commission for Northem Ireland under section 65(9)(b) of the 2008 Act. 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 ststements do not comply with the accounting requirements of the 2008 Act. or the financial statements do not comply with the applicable ￿qUirementS 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 'true 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. Niall Farrell FCA Independent Examiner Farrell Accountants Limited 16 Upper Square Castlewellan Co Down BT31 gDD St Paul's Parish Church Statement of Financial Activities Year ended 31 December 2022 2022 Restricted funds Total funds Unrestncted funds 2021 Note Totsl funds Income and endowments Donations and legacies Charitable activities Investment income 34,719 3,625 38,344 171,527 10,000 22,644 204,171 12.929 18 12,947 Total income 47.648 3,643 51,291 Expenditure Expenditure on charitable activities Total expenditure 75,334 7,276 82,610 42,841 75.334 7,276 82,610 42,841 Net (expenditure)lincome and net movement in funds (27.686) (3,633) (31,319) 161,330 Reconciliatlon of funds Total funds brought forward Total funds carried forward 681,634 18,432 700,066 668,747 538,736 653.948 14,799 700,066 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 8 to 10 fo￿ part of these financial statements. St Paul's Parish Church Ststsment of Financial Position 31 December 2022 2022 2021 Note Flxed assets Tangible fixed assets 187,000 187,000 Current assets Cash at bank and in hand 482,497 513,816 Creditors: amounts fallbng due within one year Net current assets Total assets less current liabillties 11 750 750 481,747 668,747 513,066 700,066 Net assets 668,747 700,066 Funds of the charity Restricted funds Unrestricted funds.. Revaluation reserve Other unrestricted income funds Total unrestricted funds 14,799 18.432 187,000 466,948 187,000 494,634 653,948 681,634 Total charity funds 10 668,747 700,066 These financial statements were appro'ied by the board of trustees and authorised for issue on 22 May 2023, and are signed on behalf of the board by: Mr M McNeill Trustee Mrs J Watson Trustee The notes on pages 8 to 10 forni part of these financial statements. St Paul's Parish Lhurch Accounting Policies Year ended 31 December 2022 Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of ￿rtain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The f nancial Statements are prepared in sterfing, which is the functional cuffency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the cirCumstan￿s. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows.. No judgements having a significant effect on the financial statements were made during the year. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows.. No estimates and assumptions having a significant risk of matenal adjustment to the financial statements were made during the financial year. St Paul's Parish Church Notes to the Financial Statements Year ended 31 December 2022 Donations and legacles Unrestricted Funds Restricted Total Funds Funds 2022 Donations Church Donations Free Wlll Offerings Fund Raising Byransford Church Graveyard & Grounds Earmarked Income Gift Aid Tax Recovered 1.528 20.766 1,581 8.861 1,528 20,766 1,581 8,861 1,125 2,500 1,983 1,125 2,500 1,983 Legacies Legacies 34,719 3,625 38,344 Unrestricted Funds Restricted Total Funds Funds 2021 Donations Church Donations Free Wll Offerings Fund Raising Byransford Church Graveyard & Grounds Earmarked Income Gift Aid Tax Recovered 1,473 22,942 370 1,708 1,473 22,942 370 1,708 1.610 5,500 1,610 5,500 Legacies Legacies 137.924 137,924 164,417 7,110 171,527 Charitable activities Unrestricted Totsl Funds Unrestricted Total Funds Funds 2022 Funds 2021 Payments from govemments or public authorities in the normal course of trading 10.000 10,000 Investment income Unrestricted Funds Restricted Total Funds Funds 2022 Bank interest receivable type 3 Bank interest receivable 198 12,731 18 216 12,731 12,929 18 12,947 St Paul's Parish Church Notes to the Financial Ststements (eontinued) Year ended 31 December 2022 Investment income (¢onllnu8d) Unrestricted Funds Restricted Total Funds Funds 2021 Bank interest receivable type 3 Bank interest receivable 22.643 22,643 22,643 22,644 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2022 Parish running costs Support costs 74,332 1,002 75,334 7,276 81,608 1,002 82,610 7,276 Unrestricted Funds Restricted Total Funds Funds 2021 Parish running costs Support costs 38.523 1,418 2,900 41,423 1,418 39.941 2,900 42,841 Expenditure on charitable activities by activity type Activities undertaken directly Support cost5 Total funds 2022 Total fund 2021 Parish running costs Govemance costs 81,608 81,608 1,002 41,423 1,418 1,002 81,608 1,002 82,610 42,841 Independent examination fees 2022 2021 Fees payable to the independent examiner for.. Independent examination of the financial statements 750 750 Staff costs The average head count of employees during the year was 1 {2021.' Nil). No employee received employee benefits of more than £60,000 during the year (2021". Nil). St Paul's Parish Church Notes to the Financial Statements (continuedj Year ended 31 December 2022 Tanglble fixed assets Land and buildings Cost At 1 January 2022 and 31 December 2022 Carrying amount At 31 December 2022 187,000 187,000 At 31 December 2021 187,000 Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £415 (2021.. £6.372). 10. Analysis of charltable funds Unrestricted funds At l January 202 At 31 December 2022 Income Expenditure General funds Revaluation reseNe 494,634 187.000 47,648 (75,334) 466,948 187,000 681,634 47,648 (75,334) 653,948 At l January 202 At 31 December 2021 Income Expenditure General funds Revaluation reserve 337.515 187,000 197,060 (39,941) 494,634 187,000 524.515 197.060 (39,9411 681,634 Restricted funds At l January 202 At 31 December 2022 Income Expenditure Restricted Fund 1- desc in alcs 18,432 3,643 (7,276) 14,799 At l January 202 At 31 December 2021 Income Expenditure Restricted Fund 1- desc in alcs 14.221 7,111 (2,900) 18,432 10-