St Luke's Parlsh Church, Loughgall Receipts and Payments Account for the year ended 31 December 2024 Unrestricted Funds Restrlrted Funds Endowment Funds Total Note 2024 2024 2024 2024 Recei Donation5 & Plate collection 38,445.75 5,660.00 44,105.75 Proceeds from Fund Raising Events 1,884.72 1,884.72 Legacie5 Charity Collections 1,206.08 1,206.08 Bank & Deposit interest 321.75 555.93 877.68 Bequests / Investment income 854.85 857.15 1,712.00 Rental of premises 3,987.81 3,987.81 Churchyard Receipts 2,540.00 2,540.00 Other Chu rch Organisation's Income 2,IOD.00 2,100.00 Grants Other Sundry Donation5 Magazine Subscriptions Gift Aid 4,332.55 4,332.55 Grange Contributions 7,894.00 7,894.00 Other Receipt5 86.37 86.37 Total Recei ts 63,653.88 7,073.08 70,726.96
St Luke's Parish Church, Loughgall Receipt5 and Payments Account for the year ended 31 December 2024 Icont.) Unrestrlcted Fund5 Restricted Funds Endowment Funds Total Note Z024 2024 2024 2024 Pa ments Wages and Salaries 2,880.00 2,880.00 Diocesan Costs/Assessment 34.728.60 34,728.60 Church Running Costs 16,941.29 16,941.29 Glebe Costs 22,995.62 22,995,62 Parish Centre Costs 5.588.66 5,588.66 Administration Costs 230.21 230.21 Graveyard 410.00 410.00 Governance Costs Charltable Donations 1,157,D5 1,157,05 Fundraising Expenses 900.00 900.00 Other Church Org3nisation5 322.00 322.00 Total Pa ments 86,153.43 86,153.43 Excess of Receipts over Payments for the vear before transfers 122,499.551 7,073.08 115,426.471 Transfers 10,000.00 iio,000.00} Excess of Recelpts over Payments for the year 112,499.55) {2,926.921 {15,426.471 Signed on Behalf of the Trustees Trustee I: Trustee 2: Date..
St Luke's Parish Church, Loughgall Statement of Assets and Liabilltie5 as at 31 December 2024 Unrestrlcted Funds Restricted Fund5 2024 Endowment Funds Total 2024 2024 2024 Cash Funds Current Accounts 11,619.77 11,619.77 Deposlt Accounts 62,943.94 62,943.94 Total Cash Funds 11,619.77 62,943.94 74,563.71 Investment Assets Investments in RCB / CIT Unit Trusts Total Investment Assets 140,571.00 140.571.00 140,571,00 140,571,00 Assets retained for the Parish's own Use Glebe House 472,957.00 472,957.00 Parish Centre & Contents 439,840.00 439,840.00 Total Assets retained for the Parlsh's own use 912,797.00 912,797.00 Signed on Behalf of the Trustees Trustee I: Trustee 2: Date.. io
St Luke's Parlsh Church, Loughgall Notes to the flnancial statements for the year ended 310ecember 2024 Accounting pollcSes Set out below are the principal accounting policies whlch have been adopted in the compilation of the Receipts and Payments Actount and the Statement of Assets and Liabilities {a) Receipt5 and Payments Account All items of income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipt5 basls. (bl Statement of Assets and Liabilitie5 11) Assets retainedfor the Pori5h'5 own use The 355ets of the Parish, retained for Its own use comprise:_ Church Building and Graveyard Parish Centre Glebe House The Church Building and Graveyard are deemed to be Herltage assets as defined by the Charities SORP IFRS1021 These Heritage assets are not included In the statement of assets and liablllties as information on the cost or valuation is not available and such informatlon cannot be obtained at a cost commensurate 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. 111 Investments Fixed asset investment5 comprising investment properties, investments in equities (ordinary shares) and investment in RCBICIT Unit Trusts are initially recorded at cost and are then subsequently stated at fair value at each year end date. Investments in unquoted investment5 are recorded at cost and are assessed annually for impairment. 11
St Luke'5 Parish Church. Loughgall Notes to the financial statements for the year ended 31 December 2024 (cont.) Reconclllatlon of Cash Funds Total Cash Funds at Beginning of the year 89,990.18 Receipts for the Year Payments for the Year Total Cash Funds at end of the year 70,726.96 186,153.43) 74,563.71 Movement In Funds Atljan Incoming Resources Outgoing Resources Transfers At31 Dec 2024 2024 Endowment funds Restrirted funds Building Fund Account 42,643.29 7,073.08 iio,000.001 39,716.37 N5 & l Account 23.227.57 23,227,57 65,870.86 7,073.08 {io,000.00) 62,943.94 Unrestrlcted funds General Fund 24,119.32 63,653.88 186,153.431 10,000.00 11,619.77 24,119.32 63.653.88 186,153.431 10,000.00 11,619.77 Total funds 89,990.18 70,726.96 (86,153.431 74,563.71 Pur ses of Endowment Funds To provide income in the form of interest which is reinvested for use at the discretion of the trustee5. Pur oses of Restrlcted Funds Building Fund: The pu rpo5e of thi5 account 15 for the maintenance and renewal of the church property. Pur oses of Desi nated Funds General Fund., Thls fund covers all expendlture and receipt transactlons except for those whlch requlre separate fund accounting. This fund is to assist with all areas of the Church Life alongside the maintenance and upkeep of all the Church A55ets. 12
5t Luke's Parish Church, Loughgall Notes to the financial statements for the year ended 31 December 2024 (cont.) Collections for Thlrd Parties 2024 Parish Mlssion Boxes 15.00 Remembrance Sunday 347.70 DFC Charities 203.28 LEMOS 640.10 1206,08 4A. Charity Allocations from Church Funds 0.00 This is a sum allocated by the Trustees to the above various collectlons for third partie5. All payments out had not been completed by the year end. 4B. Charity Allocations from Church Funds 0.00 This is a sum allocated annually by the Trustees to support a number of charities not included in Collectlons for third parties. The above amounts have been included in Receipts for the Year under "Charity Collections" and in Payments for the year under "Charitable donations" 5. Grant5 2024 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 2024 (cont.) 6. Transactlons wlth the Trustees The parlsh paid expenses of £22,995.62 relating to the running costs of the glebe house which is occupled by the rector. Mr T Sharpe, trustee, received expenses of £1,600 for the provislon of musical services as Organist. This ha5 been included in payment5 for the year under "Wages & Salaries. 7. Governance Cost5 No Governance were pald during the year to WHR Accountants Ltd. 14