Receipts and Payments Account for the year ended 31, December 2024 Note UntrICted Restrict Funds 2024 Endowment Funds 2024 Total 2024 Total 2023 Funds 2024 Recei Doiiations & plate collection Proceeds from Fund Raising Events Legacies Bank & Deposit interest Investment income Rental of premises Sale of assets Sale of investments Grants Receipts from General Trustees Other Receipts Receipts from Parish Organisation's 34,179 34,179 33,138 700 402 3.495 3,897 1,803 8,423 8,423 8,423 540 850 540 850 890 300 Total Recei ts 3S,971 11,918 47,889 44,554 ments Wagcs and Salaries Diocesan Costs/Assessment Churcli Running Costs Glebe Costs Parisli C¢ntrc Costs Adininistration Costs Fundraising Costs Charitable Donations Payments from Parish Organisation's 28.509 28,508 19,103 12,745 4.015 10,675 23.420 4,015 14.048 6,634 440 471 468 ,140 1,140 1,285 Total Pa m¢nt5 46,849 10,706 57,555 41,538 Excess of Receipts over Payments for the year before transfers -10,878 1,212 -9,666 3.016 Transfers Excess of Receipts over Payments for the year -10,878 1,212 -9.666 3,016 On Behalf of the Trustees Trustee I Trustee 2 io
Statement of Assets 2nd Liabilities as at 3], December 2024 Unrestricted Funds Restricted Funds Endowment Funds Total Total 2024 2023 2024 2024 2024 Cash Funds Current Accounts 5,734 5.734 16,612 Deposit Accounts 127,008 127,008 125.797 Total Cash Funds 5,734 127,008 132,742 142,409 Investment Assets Equity Investments Other Listed Investments Investments in RCB / CIT Unit Trusts Other unlisted investments Investment Properties Tot21 Investment Assets Assets r¢tained for the Parish's own use Parish Centre 242,105 242,105 242,105 Glebe House & Land 170,000 599,100 769,100 769,100 Fixtures and Fittings 10,000 10,000 10,000 Total Assets retained for the Parish's own use 422,105 599,100 1,021,205 1,021,205 On Behalf of the Trustees Trustee I Trustee 2 li
Notes to the finalleial statements for the year ended 31" December 2024 Accounting policie5 Set out below are the principal accounting policies which have been adopted in the cotnpilation 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) Assels relaiiiedlor tlie Parisli's owii use The assets of the Parish, retained for its own use comprise: Church Building and Graveyard Parish Centre Glebe House Glebe Lands Fixtures and fittings The Church Buildino and Graveyard are deemed to be Heritage assets as defined by the Charities SORP (FRS102) These Herita(Je assets are not included in the statement of assets and liabilities as infomiation 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 lo the parish. (This will be the Tnost common accounting policy, where the church is not deemed to be a heritaoe asset specific advice will need to be taken) The Parish Centre Is recognised at cost of construction l acquisition. No depreciation has been provided on the parish centre buildinqs as the current estimated residual value is not les5 than its carying value and the remaining useful life currently exceeds 50 years. The Glebe House is r¢cognised at deemed cost, being the estimated fair value of the property at 31. December 2018. No depreciation has been provided on the glebe house 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 is currently leased at zero value to Aghavilly Youth Club. The Commercial Rate NAV is £4,850. The Glebe lands are lands held by trustees, they represent 58.1 acres valued at £ I 1.000 per acre. Fixtures and Fittings are recognised at an estimated value li) Investments Fixed asset investments comprising investment properties, investments in equities (ordinary shares) and investment in RCB/CIT Unit Trusts are initially recorded at cost and are then Subsequently stated at fair value at each year end date. Investments in unquoted investments are recorded at cost and are assessed annually for irnpaim]ent. 12
Notes to the financial statement5 for the year ended 31st December 2024 {continuedl Reconciliation 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 142,409 47.889 57,555 132,743 Movement in Funds At31 Dec 2023 Incoming Resources Outgoing Resources At31 Dec 2024 Transfers Endowrnent Funds Restricted Funds Church Lands 125.796 11,918 10,706 127,008 Unrestricted Funds General Fund 16.611 35,971 46.849 5.733 Total 142,407 47.889 57,555 132,741 Pur oses of Restricted Funds Church Lands- This is a fund to manage income from the church lands to be used the upkeep, maintenance and repair of church property. The fund in managed separately from the Select Vestry by Trustees nominated by the select vestry keeping their own accounting records 4. Collections for Third Parties 2024 2023 Drew Nelson Legacy Appeal Hospice Sunday Bukavu CMS Ireland LEMOS 485 700 300 254 586 1,140 loo 1,285 The above amounts have been included in the receipts for the year under fund raising and in payments for the year under charitable donations. 13
Notes to the financial statements for the year ended 31" December 2024 (continued) 5. Transactions with the Trustees The parish paid expenses of £4,015 relating to the running costs of the glebe house which is occupied by the rector. The glebe house is managed by another parish in the group of three parishes. No trustee received any remuneration or reimbursement of expenses during the year. 6. Governance Costs No governance costs were paid during the year. 14