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 2024 IF, Charities Number: NIC103955
St. Mark's Church Annual report and financial statements for the year ended 31 December 2024 Contents Pages References and administrative details of the 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 Killylea NIC103955 154 Killylea Road, Arn]agh, BT60 4LN Trustees Mr. A. Bloomer Mrs. H Steenson Mrs. T. Gillespie Mrs. H. Bloomer Mrs. R. Armstrong Mr. Joe Linton Mr. G. Steenson Mr. P. Nugent Mrs. A. Nugent Mr. T. Morrow Mrs. J. Hale Mr. John Linton Mr. R. Huston Mr. G. Bcacom Mrs. J. Bloomer (elected April 2024) Mrs. J. Mccarragher (elected April 2024) Mrs. C. Henderson (resigned April 2024) Principal Office-bearers Rector: Church Treasurer: Rector's Church Warden: P¢ople's Church Warden: Rev. B. Atkins Mrs. C. Henderson Mr. G Beacom Mr. J Linton Independent Examiner Ruddell & Company Chartered Accountants & Registered Auditors 16 Church Street Dungannon Co Tyrone Principal Bankers Danske Bank PO Box 183 Donegall Square West Belfast BTI 6JS Page I
Trustees, Annual Report for the year ended 31 December 2024 The trustees present the annual report and statements of Receipts and Payments and Assets and Liabilities for St. Mark's Church for the year ended 31 December 2024. 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 benefits 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 maintenance of which is undertaken by the select vestry of St. Mark's Church. Achievemellts, Performance & Public Benefit 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 special services during the year e.g. Lenten services, Holy Week services, Harvest Thanksgiving services, Advent and Christmas Carol services. Pastoral car¢ is also provided, visiting the sick, housebound and hospitalised. A number of members 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 sL2ndards and praGtic¢s. In 2024 there were two baptisms, four funerals and twelve in confirmation classes with a confirn]ation service held on 19 January 2025. Page 2
Trustees, Annual Report for the year ended 31 December 2024 (continued) Financial Review The principal source of income of St. Mark's Church continues to be from Donations and Plate Collections. Th¢ principal expense of St. Mark's Church is in respcct of payments regarding Diocesan Costs/Assessment and church maintenance expenses. St. Mark's Church had an excess of receipts over payments before other gains of £3,159.96 for the year ended 31 December 2024. St. Mark's Church continues to be in a healthy financial state as at 31 December 2024 wRth total cash funds of £80,286.96. 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 2024 (continued) Structure, Governance and Management Going Concern The trustecs have r¢vi¢wed 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 December 2024 can be signed off as a going concern. Governing Document and Constitution of Ihe Charity Chapter III of the ConstKtution of the Church of Ireland governs Parishes and Parochial Organisation. The Select Vestry members are the Charity Trustees. Recruitment ondAppointment of Seleci Vestry (Trustees) All members of the Church of Ireland who are over th¢ age of 18 and are either r¢sid¢nt 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 stsnd for election to the select vestry. Meetings of the general vesty are held at least once a year. The Select Vesty is elected as part of this General Vesty meeting. The Select Vestry will hold their positions for a period of one year. Select Vesty members may be re-elected annually and there is no limit on the number of tern]s which may be served. Organisational Structure The select vestry is responsAble for the day to day management of th¢ parish. The select vesty 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 vestry elected at the 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 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 tRme by the chairperson or the churchwardens. Compliance wilh Public Benefil The Parish has giv¢n car¢ful consideration to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the actives entered into during the year have helped to achieve the Parish's objectives and activities, as well as providing public benefit. Page 4
Trv.stees' .An.ni.ial Report for the year ended 31 December 2024 (Continued) Statement of Trustees, Responsibilities Thc kntee8 Aegponsible for preparing the Trustees, Report and the statement of rrf¢ipts aid payments and statement of assets and liabiliti¢s in accordance with applicable law and regulations. The law, applic(4ble 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 tacii ticlaI yar. The tntee$ are responsible for keeping accounting records that are sufficient to show and explain the PiSh'S trauiacuoi1S and disclose with reasonable accuracy at any time the assets and liabilities 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 Trnstees Trustee I Trnstee 2 Date g? N_-1 2015 Pc48L5
Independent Examiners Report to the Trustees of St. Mark's Church, Parish of Killyjea eetive 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 accordance 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 Ir¢land) are set out in th¢ Statement of Directors, Responsibilities on page 5. The charity's trustees consider that an audit is not required for this year but have requested that an independent examination be carried out. It is my rcsponsibility to: Examine the accounts To follow the procedures laid down in the general directions given by the ternis 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 ternis of our engag¢ment 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 ¢xpr¢ssly 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 th¢ terms 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 explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether th¢ 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 the financial statements for the year ended 31 December 2024, no matter has come to my attention which gives me reasonable cause to believe that, in any material respect, the requir¢ments: to keep accounting records to prepare accounts which accord with the accounting 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 Page 6
Reep.iDts qnd Pg_yments Account for the year ended 31 December 2024 Unre$tri¢ted Designated Restricted funds funds funds 2024 2024 2024 Tot41 funds 2024 Total fulld5 2023 Receipts Donations & plate collections Legacies & Bequests -iOC¢¢us iil)ILi I. LU3Q Raising Events Bank & Deposil interest l.I'<esilll-nt income Rental of p;"thmis-s Other Receipts Receipts from Parish Organisations Tot£il Reteipts 29,854.21 1.407.50 31.261.71 28.965.30 5,197.21 179.25 180.26 1.211.89 16,593.39 16,063.86 9,300.00 12.970.61 11,305.00 791.96 2,120.93 179.25 15.381.50 3,670.61 791.96 49.877.53 11,919.39 61,796.92 63,832.56 Po}pJ.":.?ts D:'ocesan Costs/Assessment Ch.4 & 1-laRI Riujning Costs tilebe/L"ctory Costs Administrative Costs rLnd:'".Liiing Costs Cb&&ritable Donations Other Poyinents from Parish Organisations Tot31 Payments 33,260.08 13.625.22 1.154.89 5,978.93 33,260.08 31.567.17 13,625.22 12,944.81 1,154.89 1.139.03 5,978.93 6.085.17 1,368.14 1,407.50 2,80 I.35 5,484. 11 1,152.54 1,816.49 4,633.20 1,393.85 663.95 56,076.92 2,560.04 5&636.96 63321.63 l ofreceipts PaeRts before transfer (6,199.39) 9J59.35 3.159.96 610.93 TransferJ Gross transfers between funds- in (iL-ObS iraiisieri Jeiween funds- out 2.500.00 2',500.00 3,500.00 2 500.00 3 500.00 Excess ofreceipts TJ-L" ?#1_ellts before other gains .96 610.9 On B-h21t of the Trijstees Trusiee I Trust:e 2
t of & and Liabilities as at 31 December 2024 Unrestricted Designated Re8lricted Funds Funds Funds 2024 Total 2024 Total 2023 2024 2024 Czsh Funds Danske No l Account Danske Buildirkg Fund Dans,,. N'a ? c. - rters1= Cof T Killylea Parish Inv C Oi I - J¥oLle Farni Inv Total Cash Funds 25.215.53 475_78 25215.53 475.78 54,595.07 31.477.64 54.595.07 45.235.72 25,691.31 54,595.07 80,286.38 77,126.42 I¢0¢ LKCL. Col TtUSt¢cs IDieikn¢nts Othtf Liilr(i inveitmeills Olbl 41ivebtttietEi Assets 400,000.00 400,000.00 172,830.00 446,521.42 400,000.00 169,681.00 407280.05 li 172.830.00 401,818.72 44,702.70 574,648.72 444,705.70 1,019J54.42 .976,961.05 Assets retainthi lor the 2fisii'S owIi use GleLe .4obs&,lecLOry Church. Hall Fixtures and Fittings i otéil .4si¢tS I'riaiiitd tor the Parx>&l'b Owts US 170,000.00 350,000.00 3,000.00 170,000.00 350,000.00 ),000.00 170,000.00 350,000.00 3.000.00 523,000.00 S23,000.00 523,000.011 Totsl Absets 1,123,340.03 499JOI).77 1,622,640.80 1,577,087.47 On Behalf of the Trustees Trustee I Trustee 2
Notes to the financial statements for the year ended 31 December 2024 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 expenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basis. (b) Statement of Assets and Liabilities (i) Assets retoinedfor the Parish's own use The assets of the Parish, retained for its own use comprise".- Church Building and Graveyard Church Hall Glebe House/Rectory Fixtures and fittings The Church Building and Graveyard are deemed to be Heritage assets as defined by the Charities SORP (FRS102). Thcse Hcritagc assets are not included in the statement of assets and liabilities as inforniation on the cost or valuation is not availabl¢ and such inforniation cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the parish. The Church Hall is recognised at the estimated net realisable value of the property. No depreciation has been provided on the church hall as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. The Glebe House/Rectory is recognised at the estimated net realisable value of the property. No depreciation has been provided on the glebe house/rectory as the current estimated residual value 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 depieciated on a straight 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 capitalis¢d as a fixed ass¢t. li} Investments Fixed asset investments comprising Glebe Lands/Farmland, Representative Church Body (RCB) Investments, Church of Ireland (COI) Trustees Investments and Other Listed Investments 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 31$t December 2024 (continued) 2. ReconcRliation of Cash Funds Total Cash Funds at Beginning of the year Receipts for the Year Payments for the Year Total Cash Funds at end of the year 77,126.42 61,796.92 (58,636.96) £80,286.38 3. Movement in Funds AtlJan 2024 Ineoming Resourees Outgoing Resources Inwestment CainllLoss) At31 Dec 2024 TraTrsfers Endowment funds Restricted fvnds Danyke No 2 Aeeount (Steele) 45,235.72 45,235.72 10,511.89 10,511.89 (1,152.54 (1,152.54 54,595.07 54.595.07 Unrestricted funds Danske No l Aeeount D8nsk¢ Building Fund 31,477.64 413.06 31,890.70 49,745.78 1.539.25 51,285.03 (53,507.89) 3.976.53 57,484.42 {2,500.(X)) 2.500.00 25,215.53 475.7 25,691.31 Total funds 77,126.42 61,796.92 58,636.96 80,286.38 4. Collections for Third Parties Royal Britlsh Legion Southern Area Hospice RBP No 26 Killylea LOL Northern Ireland Childrens Hospice Simon Community 152.45 232.00 95.00 392.35 441.70 94.00 1,407.50 The above amounts have been included in Receipts for the Year under "Donations & plate collections" The fvll amount of £1,407.50 was paid out during the year and has been included in Payments for the year under "Charitable Donations" Page 10
Notes to the financial statements for the year ended 31 December 2024 (continued) 5. Transactions with the Trustees The parish paid expenses of £1,154.89 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. Governance costs are included within Administrative Costs Èn the Receipts and Payments Accounts. Page 11