CHARITY REGISTRATION NUMBER: 103482
St Paul's Parish Church Unaudited Financial Statements 31 December 2023
NIALL FARRELL FCA
Chartered accountants Farrell Accountants Limited
16 Upper Square Castlewellan Co Down BT31 9DD
St Paul's Parish Church
Financial Statements
Year ended 31 December 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Accounting policies | 7 |
| Notes to the financial statements | 8 |
St Paul's Parish Church
Trustees' Annual Report
Year ended 31 December 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023.
Reference and administrative details
Registered charity name St Paul's Parish Church Charity registration number 103482 Principal office Mill Hill Castlewellan Co Down BT31 9PN
The trustees
Independent examiner
Mrs M M Hamilton Mr S W McConnell Mr M McNeill Miss L Simpson Mrs M McClurg Mrs M Keown Mr J Goslyn Mrs J Watson Mr J McBride Mrs D McBride Mrs V Canavan Niall Farrell FCA Farrell Accountants Limited 16 Upper Square Castlewellan Co Down BT31 9DD
Structure, governance and management
Governing Document and Constitution of the Charity
Chapter III of the Constitution of the Church of Ireland governs Parishes and Parochial Organisations. The Select Vestry members are the Charity Trustees.
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St Paul's Parish Church
Trustees' Annual Report (continued)
Year ended 31 December 2023
Structure, governance and management (continued)
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 practice there is no limit to the time which may be served, and members re-elected especially in a small parish where members normally serve several years.
Pay and remuneration
The incumbent of the Parish is paid £38,626 with a locomotory allowance of £7,000 and office expenses of £800 per annum as approved by the General Synod of the Church of Ireland with the parish now paying 50% of these costs and Bryansford parish paying the same percentage since the start of 2023.
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.
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.
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St Paul's Parish Church
Trustees' Annual Report (continued)
Year ended 31 December 2023
Achievements and performance
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. With 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. The church is open to all irrespective of gender, ethnicity, ability class or creed. All statutory responsibilities were met to ensure Health and Safety and Child Protection policies were adhered to. 2023 has been an exciting year for St Pauls. With a new minister in place and welcoming two new part time evangelists into the parish (Trevor and Lorraine and family) at the end of the year, there has been some exciting initiates taking place, which had not been possible in the past. There has been a specific focus on discipleship and growing closer together as a parish. There has been a particular focus on partnering more with our sister parish in Bryansford by holding services together throughout the year and having lunches etc to build our relationship and share resources. This has enabled us to participate in numerous outreach initiatives together in the community. To name a few of the events that took place this year, we went deeper with our discipleship by doing the Alpha prayer course. We started a monthly coffee morning to help build relationships and establish a culture of welcome and hospitality. We held numerous community BBQs to welcome new people and help reach out to people in our community. The church calendar gave us key opportunities to do outreach activities at Easter, Pentecost, Harvest and Christmas among many other social gatherings and special services. We welcomed 3 missionaries from America, Australia, and Nigeria for a week of mission and outreach in the community. It has been an eventful year in the church, and we are looking forward to the year ahead with our new evangelists and the gifts they bring to their roles. Our hope is to reach out even more into our communities with the Good News, with a particular focus on families and young people. There were many highlights during the year including the excellent musical concert from the Kerygma Gospel Choir and the contemporary Christmas Carol service featuring Trevor and his musician friends giving a rock type version of popular carols much enjoyed by all present. Also, we upgraded the sound system in the church to offer us more creative expressions of worship enhanced by the musical ability of Trevor and Lorraine aided by their three children!
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 9 April 2024 and signed on behalf of the board of trustees by:
Mr M McNeill Trustee
Mrs J Watson Trustee
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St Paul's Parish Church
Independent Examiner's Report to the Trustees of St Paul's Parish Church
Year ended 31 December 2023
I report to the trustees on my examination of the financial statements of St Paul's Parish Church ('the charity') for the year ended 31 December 2023.
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.
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 Directions given by the Charity Commission for Northern 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:
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accounting records were not kept as required by with section 63 of the 2008 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of the 2008 Act; or
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the financial statements 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 '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 9DD
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St Paul's Parish Church
Statement of Financial Activities
Year ended 31 December 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 1 | 70,090 | 13,193 | 83,284 | 38,344 |
| Investment income | 2 | 12,481 | 185 | 12,666 | 12,947 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total income | 82,571 | 13,378 | 95,950 | 51,291 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 3,4 | 76,655 | 9,810 | 86,466 | 82,610 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 76,655 | 9,810 | 86,466 | 82,610 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net income/(expenditure) and net | |||||
| movement in funds | 5,916 | 3,568 | 9,484 | (31,319) | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 653,948 | 14,799 | 668,747 | 700,066 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 659,864 | 18,367 | 678,231 | 668,747 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
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 form part of these financial statements.
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St Paul's Parish Church
Statement of Financial Position
31 December 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 7 | 187,000 | 187,000 | |
| Current assets | ||||
| Cash at bank and in hand | 491,981 | 482,497 | ||
| Creditors: amounts falling due within one year | 10 | 750 | 750 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Net current assets | 491,231 | 481,747 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Total assets less current liabilities | 678,231 | 668,747 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Net assets | 678,231 | 668,747 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| Funds of the charity | ||||
| Restricted funds | 18,367 | 14,799 | ||
| Unrestricted funds: | ||||
| Revaluation reserve | 187,000 | 187,000 | ||
| Other unrestricted income funds | 472,864 | 466,948 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Total unrestricted funds | 659,864 | 653,948 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Total charity funds | 9 | 678,231 ৶৶৶৶৶৶৶৶৶ |
668,747 ৶৶৶৶৶৶৶৶৶ |
These financial statements were approved by the board of trustees and authorised for issue on 9 April 2024, and are signed on behalf of the board by:
Mr M McNeill Trustee
Mrs J Watson Trustee
The notes on pages 8 to 10 form part of these financial statements.
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St Paul's Parish Church
Accounting Policies
Year ended 31 December 2023
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.
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 circumstances. 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 material adjustment to the financial statements were made during the financial year.
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St Paul's Parish Church
Notes to the Financial Statements
Year ended 31 December 2023
1. Donations and legacies
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Donations | ||||
| Church Donations | 2,867 | – | 2,867 | |
| Free WIll Offerings | 19,150 | – | 19,150 | |
| Fund Raising | 567 | – | 567 | |
| Byransford Church | 28,277 | – | 28,277 | |
| Graveyard & Grounds | – | 1,535 | 1,535 | |
| Earmarked Income | 17,215 | 11,658 | 28,874 | |
| Gift Aid Tax Recovered | 2,014 | – | 2,014 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 70,090 | 13,193 | 83,284 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Donations | ||||
| Church Donations | 1,528 | – | 1,528 | |
| Free WIll Offerings | 20,766 | – | 20,766 | |
| Fund Raising | 1,581 | – | 1,581 | |
| Byransford Church | 8,861 | – | 8,861 | |
| Graveyard & Grounds | – | 1,125 | 1,125 | |
| Earmarked Income | – | 2,500 | 2,500 | |
| Gift Aid Tax Recovered | 1,983 | – | 1,983 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 34,719 | 3,625 | 38,344 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 2. | Investment income | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Bank interest receivable | 12,481 | 185 | 12,666 | |
| Bank interest receivable type 3 | – | – | – | |
| Bank interest receivable | – | – | – | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 12,481 | 185 | 12,666 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Bank interest receivable | – | – | – | |
| Bank interest receivable type 3 | 198 | 18 | 216 | |
| Bank interest receivable | 12,731 | – | 12,731 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 12,929 | 18 | 12,947 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
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St Paul's Parish Church
Notes to the Financial Statements (continued)
Year ended 31 December 2023
3. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Parish running costs | 75,434 | 9,810 | 85,244 | ||
| Support costs | 1,221 | – | 1,222 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| 76,655 | 9,810 | 86,466 | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Parish running costs | 74,332 | 7,276 | 81,608 | ||
| Support costs | 1,002 | – | 1,002 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| 75,334 | 7,276 | 82,610 | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| 4. | Expenditure on charitable activities by activity type | ||||
| Activities | |||||
| undertaken | Total funds | Total fund | |||
| directly Support costs | 2023 | 2022 | |||
| £ | £ | £ | £ | ||
| Parish running costs | 85,244 | – | 85,244 | 81,608 | |
| Governance costs | – | 1,222 | 1,222 | 1,002 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 85,244 | 1,222 | 86,466 | 82,610 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 5. | Independent examination fees | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 750 ৶৶৶৶ |
750 ৶৶৶৶ |
6. Staff costs
The average head count of employees during the year was 3 (2022: 1).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
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St Paul's Parish Church
Notes to the Financial Statements (continued)
Year ended 31 December 2023
7. Tangible fixed assets
| Land and | |
|---|---|
| buildings | |
| £ | |
| Cost | |
| At 1 January 2023 and 31 December 2023 | 187,000 |
| ৶৶৶৶৶৶৶৶৶ | |
| Carrying amount | |
| At 31 December 2023 | 187,000 |
| ৶৶৶৶৶৶৶৶৶ | |
| At 31 December 2022 | 187,000 |
| ৶৶৶৶৶৶৶৶৶ |
8. 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 £Nil (2022: £415).
9. Analysis of charitable funds
Unrestricted funds
| At | At | |||
|---|---|---|---|---|
| 1 January 202 | 31 | December | ||
| 3 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| General funds | 466,948 | 82,571 | (76,655) | 472,864 |
| Revaluation reserve | 187,000 | – | – | 187,000 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 653,948 | 82,571 | (76,655) | 659,864 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| At | At | |||
| 1 January 202 | 31 | December | ||
| 2 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| General funds | 494,634 | 47,648 | (75,334) | 466,948 |
| Revaluation reserve | 187,000 | – | – | 187,000 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 681,634 | 47,648 | (75,334) | 653,948 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Restricted funds | ||||
| At | At | |||
| 1 January 202 | 31 | December | ||
| 3 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| Restricted Fund 1 - desc in a/cs | 14,799 | 13,378 | (9,810) | 18,367 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| At | At | |||
| 1 January 202 | 31 | December | ||
| 2 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| Restricted Fund 1 - desc in a/cs | 18,432 | 3,643 | (7,276) | 14,799 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
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