St. Mark)s Church Parish of Killylea Trustees, Annual report and Statement of Receipts and Payments and Assets and Liabilities For the year ended 31 December 2023 Charities Number: NIC103955
St. Mark's Church Annual report and financial statements for the year ended 31 December 2023 Contents Pages References and administrative d¢tails of thc Charity Trustees, report Independent Examiners Report to the Trustees Receipts and payments account Statement of assets and liabilities Notes to the financial statements 9- 11
St. Mark's Church References and administrative details Charity Name: Charity Registration Number: Contact Address". St. Mark:s Church, Parish of Killylca NIC103955 154 Killylea Road, Arniagh, BT60 4LN Trustees Mr. A. Bloomer Mrs. C. Henderson Mrs. R. Arnistrong Mrs. E Gillespie Mrs. A. Nugent Mr. G. Steenson Mr. G. Beacon Mrs. J. Hale Mrs. H Steenson Mrs. H. Bloomer Mr. Joe Linton Mr. P. Nugent Mr. T. Morrow Mr. S. Parkes (Resigned April 2023) Mrs. T. Gillespie Mr. John Linton R Huston (Appointed April 2023) Principal Office-bearers Rector: Church Treasurer: Rector's Church Warden: People's Church Warden". Rev. B. Atkins Mrs. C. H¢nderson Mr. G Beacom Mr. J LÈnton Independent Examiner Ruddell & Company Chartered Accountants & Registered Auditors 16 Church Street Dungannon Co Tyrone Principal Bankers Danske Bank POBOX 183 Donegall Square West Belfast BTI 6JS Page I
Trustees, Annual Report for the year ended 31 December 2023 The trustees present the annual report and statements of Receipts and Payments and Assets and Liabilities for St. Mark's Church for thc year ended 31 December 2023. Objectives and Activities The charitable purpose of the Church of Ireland is the advancement of religion. The principal function of St. Mark's Church is to support the advancement of the Christian religion by promoting, through the work of St. Mark's Church 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 b¢nefits of Christianity. As a result of activity in the pursuit of the advancement of the Christian religion, St. Mark's Church has custody of property and of records: materials and artefacts of significance to the cultural and religious heritage and maintenancc of which is undertaken by the select vestry of St. Mark's Church. Achievements, Performance & Public Beneflt St. Mark's Church has weekly services on Sunday mornings comprising of a mix of Holy Communion; Family ServicelBaptism and Morning Prayer together with various other spectal services during the year e.g. Lenten services, Holy Week services, Harvest Thanksgiving services, Advent and Christmas Carol services. Pastoral care is also provided, visiting the sick, housebound and hospitalised A number of membcrs of St. Mark's Church serve on the Board of Governors of the local Controlled Primary School and support and encourage the work of the school helping to maintain good standards and practices. Page 2
Trustees, Annual Report for the year ended 31 December 2023 (continued) Financial Review The principal source of income of St. Mark's Church continues to be from Donations and Plate Collections. The principal expense of St. Mark s Church is in respect of payments regarding Diocesan Costs/Assessm¢nt and church maintenance expenses. St. Mark's Church had an excess of receipts over payments before other gains of £610.93 for the year ended 31 December 2023. St. Mark's Church continues to be in a healthy financial state as at 31 December 2023 with total cash ndS of £77.126.42. St. Mark's Church aims to retain sufficient reserves to meet its expected future expenditure requirements as well as potential future capital projects. Page 3
Trustees, Annual Report for the year ended 31 December 2023 (continued) Strlleture, Governance and Management Going Concern The trustees have reviewed its planned expenditure for the year ahead and are satisfied that there are adequate funds in place to ensure that the Parish can continue its activities and the financial statements for the year ended 31 D¢c¢mber 2023 can be signed off as a going concern. Governing Document and Conshlution ofthe Charity Chapter III of the Constitution of the Church of Ireland governs Parishes and Parochial Organisation. The Select Vestry members are the Charity Trustees. Recruitment andAppointmenl olselecl Vestry (Truslees) All members of the Church of Ireland who are over the age of 18 and are cither 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 vesty 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 el¢cted as part of this General Vestry meeting. The Select Vestry will hold their positions for a period of one year. Select Vestry members may b¢ re-elected annually and there is no limit on the number of tern]s which may be served. Organisational Slruclure Th¢ select vestry is responsible for the day to day management of the parish. The select vestry consists of the member of the clergy serving in the parish: the churchwardens, the glebe wardens and generally not more than twelve other members of the general vesty ¢l¢cted at thc General Vestry. 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 g¢neral 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 b¢ convened at any time by the chairperson or the churchwardens. Compliance with Public Benefit The Parish has given careful consideration to the Charity Commission lor North¢rn Ireland's guidance on public b¢n¢fit to ensurc that the activ¢s entered into during the year have helped to achieve the Parish's objectives and activities, as well as providing public benefit. Page 4
Trustees, Annual Report for the year ended 31 December 2023 (continued) Statement of Trustees, Responsibilities The trustees are responsible for preparing the Trustees, Report and the statement of receipts and payments and statement of assets and liabilities in accordance with applicable law and regulations. The law applicable to charities in Northern Ireland with Income of less than £250.000 requires the trustees to prepare a statement of receipts and payments and a statement of assets and liabilities for each financial year. The trustees are responsible for keeplng accounting records that are sutricient to show and explain the Parish's transactions and disclose with reasonable accuracy at any time the assets and liabilÈtÈes of the Parish. They are also responsible for safeguarding the assets of the Parish and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on Behalf of the Trustees Trustee I Trustee 2 Date LS l-OL6 Page 5
Independent Examiners Report to the Trustees of St. Mark's Church, Parish of Killylea Res ective res onsibilities of the trustees and examiner The charity's trustees responsibility for the preparation of the trustees report and the accounts: as set out on pages 2 to I I, in accordanc¢ with applicable Northern Irish law and the accounting standards issued by the Accounting Standards Board and published by The Institute of Chartered Accountants in Ireland (Generally Accepted Accounting Practice in Northern Ireland) are set out in the Statement of Directors, Responsibilities on page 5. The charity's trustees consider that an audit is not requircd for this year but have requested that an independ¢nt examination be carried out. It is my responsibRlity to: Examine the accounts To follow the procedures laid down in the general directions given by the tenns of our engagement and To state whether particular matters have come to my attention. This report: including the statement: has been prepared for and only for the charity" s trustees as a body in accordance with the tenns of our engagement and for no other purpose. We do noL in giving this statement, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing. Basis of inde endent examiner's statement My examination was carried out in accordance with general directions given by the ternis of our engagement. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented within those records. It also includes consideration of any unusual items or disclosures within the accounts. and seeking explanattons from the trustees concerning any such matters. The procedures undertak¢n do not pr()vide all the evidence that would be required in an audit, and conscqucntly no opinion is given as to whether the accounts provide a 'true and fair, view and the report is limited to those matters set out in the statement below. Inde endent examiner's statement In connection with my examination of th¢ financial statements for the year ended 31 December 2023, no matter has come to my attention which gives me reasonabl¢ cause to believe that, in any material respect, the requirements: to keep accounting records to prepare accounts which accord with the accounttng records and comply with accounting requirements have not been met 2. to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Jonathan Ruddell For Ruddell & Company Chartered Accountants & Registered Auditors Dungannon April 2024 Page 6
Reeeipts and Payments Account for the year ended 31 December 2023 Unrestrieted Designated R¢strieted funds funds funds 2023 2023 2023 Total funds 2023 Total funds 2022 Receipts Donations & plate collections Legacies & Bequests Proceeds from Fund Raising Events Bank & Deposit interest Investment income Rental of premises Other Receipts Receipts from Parish Organisations Total Receipts 26,017.84 2,947.46 28,965.JO 31,640.57 5,197.21 180.26 14,869.88 2,005.00 2.120.93 5,197.21 3,545.10 180.26 169.54 1,193.98 16,06i.86 17,109.85 9,300.00 11.305.00 11,260.00 2.120.93 2.193.93 50,391.12 13,441.44 63,832.56 65,918.99 Payments Diocesan CostslAssessment Church & Hall Running Costs Glebe/Rectory Costs Adtninistrative Costs Fundraising Costs Charitable Donations Other Payments from Parish Organisations Total Payments 31,567.17 12,944.81 1,139.03 6,085.17 I,J68.14 2,536.65 601.29 31,567.17 28,632.67 12,944.81 13,269.68 1,139.03 848.27 6,085.17 5,969.15 1.368.14 9?0.98 2,947.46 5,484.11 3,902.90 4,031.91 4,6J).20 4,248.91 56,24226 6,979.37 63,221.63 57,792.56 Excess of reeeipts over payments before transfer (5,851.14) 6,462.07 610.93 8,126.43 TransJers Gross transfers between funds- in Gross transfers between funds - out ).500.00 3.500.00 3,500.00 5,941.15 3 500.00 5 941.15 Excess of receipts over payments before other gains On Behalf of the Trustees Trustee I Trustee 2 Page 7
Statement of Assets and Liabilities as at 31 December 2023 Unrestrieted Designated Restritted Funds Funds Fuuds 2023 2023 2023 Total 2023 Total 2022 Cash Funds Danske No l Account Danske Building Fund Danske No 2 C- Steele C of l - Killylea Parish Inv C of l- Steel¢ Farm Inv Total Cash Funds 31,477.64 413.06 31.477.64 413.06 45,235.72 37,299.99 441.85 38,377.65 45,235.72 31,890.70 45235.72 77,126.42 76515.49 Glebe Land51Familand RCB Investments Col Trustes Investments Other Listed Jnvestments Total Investment Assets 400,000.00 400,000.00 169.681.00 407.280.05 400,000.00 164.7J5.00 389.24?.96 169,681.00 366.506.24 40,773.81 536,187.24 440,773.81 976,961.05 953,977.96 Assets retained for the Parisb's own vse Glebe HouselRectory Church Hall Fixtures and Fittings Total Assets retained for the Parish's own use 170,000.00 350.000.00 3,000.00 170,000.00 350.000.00 3,000.00 170,000.00 350.000.00 3,000.00 523,000.00 523,000.00 523,000.00 Total AssÈÉs 1,091,077.94 486,009.53 1,577,087.47 1,553,493.45 On Behalf of tbe Trustees Trustee I Trustee 2 LJC Page 8
Notes to the financial statements for the year ended 31 December 2023 l. Accounting policies Set out below are the principal accounting policies which have been adopted in the compilation of the Receipts and Payments Account and the Statement of Assets and Liabilities (a) Receipts and Payments Account All items of income and ¢xpenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basts. (b) Staten)ent of Assets and Liabilities (i) Assels retainedfor the Parish's own use The assets of the Parish: retained for its own use comprise:_ Church Building and Graveyard Church Hall Gl¢be House/Rectory Fixtures and fittings The Church Building and Graveyard are deemed to be Heritage assets as defined by the Charities SORP (FRSI 02). These Heritage assets are not included in the statement of assets and liabilities as inforniation on the cost or valuation is not available and such infonnation cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the parish. The Church Hall is recoonised at the estimated net realisabEe value of the property. No depreciation has been provided on the church hall as th¢ current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. Th¢ Gl¢be House/Rectory is recognised at th¢ cstimated net realisable value of the property. ' No depreciation has been provided on the glebe houselrectory as the current estimated residual valu¢ is not less than its carrying value and the remaining useful life currently exceeds 50 years. Fixtures and Fittings are recognised at cost and are depreciated on a straioht line basis over a period of 5 years. The church has set a minimum threshold of cost for an item of £500 for it to be considered to be capitalised as a fixed asset. li) Investments Fixed asset investments comprising Glebe Lands/Farniland, Representative Church Body (RCB) Investments, Church of Ireland (COI) Trustees Investments and Other Listed Inv¢stments are initially recorded at cost and are then subsequently stated at fair value at each year end date. Page 9
Notes to the financial statements for the year ended 31st December 2023 (continued) 2. Reconciliation of Cash Funds Totsl Cash Funds at Beginning of the year Recetpts for the Year Payments for the Year Total Cash Funds at end of the year 76,515.49 63.832.56 (63,221.6J) £77,126.42 3. Movement in Funds .It I Jgn 2023 Incoming Resourcv Olltgoing Resourees IDI'estment GaiDI{Lo$s) At31 Dee 2023 Transfers ERdowment funds Restricted hnds Dan5ke No 2 Ac¢ount (Steele) 38.773.65 38.773.6i 10.493.98 10.493.98 {4.031.91) (4.031.91) 45.235.72 4j.?35.72 Unrestritted funds Danske No l Account Dansk¢ Building Fund 37.299.99 441.85 37.741.84 51.953.32 l.J85.26 5i.J38.58 (54.275.67} 14.914.05) 159.189.72) {3.500.00) 3.500.00 31.477.64 413.06 31.890.70 Total fndS 76.515.49 6i.832.56 16J.221.63) 77.126.4? 4. Collections for Third Parties Royal British Legion Southem Area Hospice RBP No 26 Killylea LOL - LEMOS Guides - Anniversary Service Junior LOL Northern Ireland Childrens Hospice Simon Community 212.00 245.00 189.50 420.51 484.25 534.10 330.10 110.00 2,525.46 The above amounts have been included in Receipts for the Year under "Donations & plate collections" The full amount of £2,525.46 was paid out during the year and has be¢n included in Payments for the year under "Charitable Donations" Page 10
Notes to the financial statements for the year ended 31 December 2023 (continued) 5. Transactions Ivith the Trustees The parish paid expenses of £1,139.03 during the year relating to the running costs of the glebe house/rectory which is occupied by the rector during the period of the rector's occupancy of it. 6. Governance Costs Governance costs of £660.00 were incurred during the year which solely relate to fees paid to the independent examiner. Govemanc¢ costs are incliided within Administrative Costs in the Receipts and Payments Accounts. Pagell