St Luke's Parish Church, Loughgall Receipts and Payments Account for the year ended 31 December 2023 Unrestrlcted Funds Restricted Endowment Funds Funds Total Note 2023 2023 2023 2023 Recei Donation5 & Plate collection 39,402.94 8,215.00 47,617.94 Proceeds from Fund Raising Event5 5,171.93 2,649.20 7,821.13 Legacles Charity Collection5 944.08 944.08 Bank & Deposit interest 280.97 426.50 707.47 eque5ts I Investment incorne 788.55 788.55 Rental of premises 5.310,45 5,310.45 Churchyard Receipts 580.00 580.00 Other Church Organi5ation's Income 2,100.00 2,100,00 Grant5 Other Sundry Donations 525.00 525.00 Magazine Subscriptions 220.QO 220.00 GiftAid 3,849.85 3,849.85 Other Receipts 540.00 540.00 Total Recei ts 59,713.77 11,290.70 71.004.47
St Luke'5 Parish Church, Loughgall Receipt5 and Payments Account for the year ended 31 December 2023 (cont.) Unrestrlcted Restricted Funds Endowment Funds Funds Total Note 2023 2023 2023 2023 Pa ment5 Wages and Salaries 2,880.00 2,880.00 Diocesan Costs/Assessment 33,844.49 33,844.49 Church Running C05t5 11,764.77 388.00 12,192.77 Glebe Costs 9,909.92 9,909.92 Parish Centre Costs 3,631.93 3,631.93 Administration Costs 221.29 221.29 Governance Costs Charitable Donations 680.80 680.80 Total Pa ents 62,933.20 388.00 63,321.20 Excess of Recelpts over Payments for the year before transfers {3,259.43} 10,902.70 7,643.27 Transfers Ex¢ess of Recelpts over Payments for the year 13,259.43) 10,902.70 7,643.27 Signed on Behalf of the Trustees Trustee I: Trustee 2: Date:
St Luke's Parish Church, Loughgall Statement of Assets and Liabilities as at 31 December 2023 Unrestrlcted Funds Restricted Fund5 Endowment Funds Total 2023 2023 2023 2023 Cash Funds Current Accounts 24,119.32 24,119.32 Deposit Accounts 65,870.86 65,870.86 Total Cash Funds 24,119.32 65,87O,86 89,990.18 Investment A55et5 Inve5tment5 in RCB I CIT Unit Trusts Total Investment Assets 140,571.00 140,571.00 140,571.00 140,571.00 Assets retalned for the Parlsh's own Use Glebe House 472,957.00 472,957.00 Parish Centre & Content5 Total Assets retained for the Parlsh's own use 439,840.00 439,840.00 912,797.00 912,797.00 Signed on Behalf of the Trustees Trustee l- Trustee 2: Date.. io
5t Luke's Parlsh Church, Loughgall Notes to the flnancial statements for the year ended 31 December 2023 Accounting policie5 Set out below are the principal accounting policies which have been adopted in the cornpilatlon of the Receipts and Payments Account and the Statement of Assets and Liabilities {a) Receipts and Payments Ar¢ount All items of income and expendlture included within the Receipts and Payments Account have been accounted for on a cash receipts bas15. {b) Statement of Assets and Liabilities lil Assets retolnedfvr the Parlsh's own use The assets of the Parish, retained for its own use compri5e:_ Church Bulldlng and Graveyard Parish Centre Glebe House The Church Bullding and Graveyard are deemed to be Heritage assets as defined by the Charlties SORP IFRS1021 These Heritage assets are not included in the statement of assets and liabilities 35 information on ihe cost or valuation is not available and such information cannot be obtained at a c05t commen5u rate with the benefit to the users of the accounts and to the parish. The valuatlon used for Glebe House and Parish Centre have been taken at insured valuation. ii) Investments Fixed asset investments Corn prising investment properties, investments in equities (Drdinary shares) and investment in RCBICIT Unit Trusts are Initially recorded at C05t 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 impairment. 11
St Luke's Parish Church, Loughgall Note5 to the financial statements for the year ended 31 December 2023 {cont.) Reconclllatlon of Cash Funds Total Cash Funds at Besinning of the year 82,306.91 Receipts for the Year Payments for the Year Total Cash Funds at end of the 71,004.47 {63,321.201 year 89,990.18 Movement in Fund5 Atljan Incomlng Rescurces Outgoing Resources Transfers At31De 2023 2023 Endowment funds Restrirted funds Building Fund Account 31,740.59 11,290.70 {388.001 42,643.29 NS & l Account 23,227.57 23,227.57 54,968.16 11,290.70 1388.00) 65,870.86 Unrestrlcted funds General Fund 27,338.75 59,713,77 162,933.201 24,119.32 27,338,75 59,713.77 (62,933.20) 24,119.32 Total funds 82,306.91 71,004.47 (63,321.20) 89,990.18 Pur oses of Endowment Funds To provide income in the form of interest which Is reinvested for use at the discretion of the trustees. Pur 05es of Restricted Funds Building Fund,. The purpose of this account Is for the maintenance and renewal of the church property. Pur oses of Desi nated Funds General Fund.. This fund covers all expenditure and receipt transactions except for those which require separate fund accounting. This fund is to assist with all areas of the Church Life alongside the maintenance and upkeep of all the Church Assets. 12
St Luke's Parlsh Church, Loughgall Notes to the financial statements for the year ended 31 December 2023 (cont.) 4. Collections for Thlrd Partie5 2023 Parish Mission Boxes 55.00 Remembrance Sunday 248.80 DFC Charities 203.28 LEMOS 437.00 944.08 4A. Charlty Allocation5 Irom Church Funds o.oo Thls is a sum allocated by the Trustees to the above various collectlOn5 for thlrd partles. All payments out had not been completed by the year end. 4B. Charity Allocatlons from Church Funds 0.00 This Is a sum allocated annually by the Trustees to support a number of Charlties not included in Collections for third parties. The above amount5 have been included in Receipts for the Year under "Charity Collections" and in Payments for the year under "Charitable donations" 5. Grants 2023 No Grant's received during the year. 13
St Luke's Parish Church, Loughgall Notes to the financial statements for the year ended 31 December 2023 (cont.) 6. Transactions wlth the Trustees The parish pald expenses of £9,909.92 relating to the running costs of the glebe house whlch is occupied by the rector. Mr T Sharpe, trustee, received expense5 of £2,400 for the provision of musical services as Organlst. This has been included in payments for the year under "Wages & Salaries" 7, Governance Costs No Governance were paid during the year to WHR Accountants Ltd. 14