**Charity Commission for NI Registration Number: NIC104084**
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland**
## **St Aidan’s Kilmore Parish**
Report and Financial Statements for the year ended 31st December 2023
**Diamond & Skillen** Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland Financial Statements for the year ended 31st December 2023**
## **Contents**
||**Page (s)**|
|---|---|
|Charity Information|2|
|Trustees’ Report|3 - 5|
|Independent Examiner’s Report|6|
|Statement of Income and Expenditure|7|
|Statement of Assets and Liabilities (Balance Sheet)|8|
|Notes to the Financial Statements|9 - 13|
_Page 1 of 13_
**Diamond & Skillen** Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland Financial Statements for the year ended 31st December 2023**
## **Information**
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
|**Charity Name**|Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland|
|---|---|
|**Contact Address**|38 Vicarage Road|
||Portadown|
||Co Armagh|
||BT62 4HF|
|**Trustees**|Ian Barnett|
||Valerie Barnett|
||Carlton Baxter|
||Alison Berry|
||Gordon Brown|
||Brenda Chaffe|
||Catherine Crealey|
||John Crealey|
||Ivan Glass|
||Audrey Hampton|
||David Henderson|
||Graham Mason|
||John Matchett|
||Julie Matchett|
||Edith McAdams|
||Brian Sandford|
||Shelagh Winter|
## **MANAGEMENT INFORMATION**
|**Office Bearers**|Rev Carlton Baxter. . . . . . . . . . . . .RECTOR|
|---|---|
||Brian Sandford. . . . . . . . . . . . . . . . .HONORARY SECRETARY|
||Audrey Hampton. . . . . . . . . . . . . . HONORARY TREASURER|
||Ivan Glass. . . . . . . . . . . . . . . . . . . . . . INCOME TREASURER|
||Shelagh Winter. . . . . . . . . . . . . . . . GIFT AID SECRETARY|
||Shelagh Winter. . . . . . . . . . . . . . . . CHURCH WARDEN - CLERGY|
||John Matchett. . . . . . . . . . . . . . . . . CHURCH WARDEN - PEOPLE|
||Valerie & Ian Barnett. . . . . . . . . GRAVES & SURROUNDS|
||Shelagh Winter. . . . . . . . . . . . . . SEXTON & PARISH CENTRE|
|**OTHER INFORMATION**||
|**Reporting Accountant**|Diamond & Skillen|
||Sinclair House|
||89/101 Royal Avenue|
||Belfast|
||BT1 1FE|
|**Bankers**|Ulster Bank Limited|
||20 High Street|
||Portadown|
||BT62 1HU|
_Page 2 of 13_
**Diamond & Skillen** Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland Financial Statements for the year ended 31st December 2023**
## **Trustees’ Annual Report for the year ended 31st December 2023**
The Trustees present the Annual Report, Statements of Receipts and Payments and Assets and Liabilities for St Aidan’s Kilmore Parish for the year ended 31st December 2023.
## **Objectives and Activities**
The Charitable purpose of the Church of Ireland is the advancement of religion.
St. Aidan’s Kilmore has a long history of taking the Gospel of Jesus Christ into its surrounding community.
For many hundreds of years the Gospel has been preached, enriching the lives of parishioners and the community in general. It remains the purpose of the parish today to take the gospel and live it out, to be truly salt and light as the Bible instructs and, with integrity and selflessness, to love our neighbours as ourselves.
## **Achievements, Performance & Public Benefit**
The focus in the church remains the preaching and teaching of the Gospel of our Lord Jesus Christ. Everything that goes on in the church is designed to enhance this preaching and teaching, building a sense of community within the church family and growing that church family beyond the fabric of the church properties.
Events have been organised which draw people into the church from outside the main body of parishioners. There is a tremendous cross-community support of what we do and we see that inattendance at services too.
A grant from Church of Ireland Priorities Fund has been applied for in order to replace the existing analogue sound system with a digital AV system and the result of that application will be known in March 2024.
Sunday school continues to thrive.
Given the on-going “cost of living crisis” there has been particular effort this year to boost our food bank donations and the response from parishioners and beyond has been fantastic. It is heartening to see that the Gospel is not just talked about but it is lived!
The Trustees have given careful consideration to the Charity Commission for Northern Ireland’s guidance on public benefit to ensure that the activities entered into during the year have helped to achieve both the Parish’s objectives and the implementation of public benefit.
## **Financial Review**
The income into the Parish from various sources was £57,411 (2022: £47,298) with outgoings of £67,865 (2022: £56,756) giving rise to a deficit of (£10,454) (2022: (£9,458)). There was an increase of £12,828 in the value of Endowment funds (2022: decrease of £19,799) to create a net surplus of funds for the year of £2,374 (2022: deficit of funds of £29,257). The bank and cash in hand balance as at 31st December 2023 was £39,083 (2022: £49,537). It is the Trustees’ Policy to hold sufficient reserves to cover unexpected emergencies, to enhance funds to pay for future maintenance to the Church and grounds to further the Objectives and Activities of the Church of Ireland.
Financial challenges are ever-present but the Lord has greatly provided and a gift day in November raised more than £6,000 for work on the new graveyard and for the new AV system. More people have also switched to giving by bank transfer or standing order and that has improved cash flow on a monthly basis though there are still those who prefer to give by envelopes and on an irregular basis. The general trend though is encouraging.
## **Going Concern**
The Trustees have reviewed the budgets 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 31st December 2023 can be signed off as a going concern.
Looking ahead to the next 12 months, the focus remains on preaching and teaching the Gospel of Jesus Christ and making our witness real in the parish and the community we serve. We believe God will honour our perseverance of His work in His power alone.
_Page 3 of 13_
**Diamond & Skillen** Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland Financial Statements for the year ended 31st December 2023**
## **STRUCTURE GOVERNANCE AND MANAGEMENT**
## **Governing Document and Constitution of the 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 and Appointment of Select Vestry (Trustees)**
All members of the Church of Ireland who are over the age of 18 and are either 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 Vestry and stand for election to the Select Vestry. Meetings of the General Vestry are held at least once a year. The Select Vestry is elected as part of this General Vestry meeting. The Select Vestry will hold their positions for a period of one year. Select Vestry members may be re-elected annually and there is no limit on the number of terms which may be served.
## **Pay and Remuneration**
The Rev Carlton Baxter receives a stipend, office and locomotory allowances in accordance with figures approved by the General Synod of the Church of Ireland in 2023.
## **Organisational Structure**
The Select Vestry is responsible for the day to day management of the Parish. The Select Vestry comprises a member of the Clergy serving in the Parish, the Church wardens, the Glebe wardens and generally no more than twelve other members of the General Vestry elected at the General Vestry meeting.
The Select Vestry is chaired by the member of Clergy officiating in the Parish. Select Vestry members are responsible for making decisions on matters of general concern and importance to the Parish including on deciding how Parish funds are to be applied. The Treasurer is responsible for the Current Account and the Building Funds.
The Select Vestry meets at times fixed by itself or by the Diocesan Synod. Special Meetings may be convened at any time by the Chairperson or Church Wardens.
## **Compliance with Public Benefit**
The Trustees have given careful consideration to the Charity Commission for Northern Ireland’s guidance on public benefit to ensure that the activities entered into during the year have helped to achieve the Parish’s objectives and activities, as well as providing public benefit. As detailed on this page.
_Page 4 of 13_
**Diamond & Skillen** Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland Financial Statements for the year ended 31st December 2023**
**Trustees’ Annual Report for the year ended 31st December 2023** _(cont’d)_
## **Statement of Trustees’ Responsibilities**
The Trustees are responsible for preparing the Trustees’ Report, 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 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 keeping accounting records that are sufficient to show and explain the Parish’s transactions 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 irregularitie s.
## **INDEPENDENT EXAMINERS**
Diamond & Skillen Chartered Accountants were appointed as the charity’s independent examiners.
## **Signed on behalf of the Trustees:**
**................................................. Shelagh Winter**
**................................................. John Matchett**
**Date: 30th September 2024**
_Page 5 of 13_
**Diamond & Skillen** Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland Financial Statements for the year ended 31st December 2023**
## **Independent Examiner's Report to the Trustees of St Aidan’s Kilmore Parish Church**
I report on the financial statements of the charity for the year ended 31st December 2023, which are set out on pages 3 to 12.
## **Respective responsibilities of trustees and examiner**
The Office Bearers are responsible for the preparation of the accounts. They consider that an audit is not required for this year under section 65(3) of the Charities Act (Northern Ireland) 2008. They also consider that an independent examiner's report is required for this year under section 65(4) of the Charities Act (Northern Ireland) 2008.
The charity’s gross income does not exceed £500,000 and I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants in Ireland.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
• examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008; _and_
- to follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland; _and_
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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 the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
The charity's gross income in the year was £57,411 (2022: £47,298). In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
• to keep accounting records in accordance with Charities Act (Northern Ireland) 2008; _and_
• to prepare accounts which accord with the accounting records, comply with the accounting requirements of Part 8 of the Charities Act (Northern Ireland) 2008 and, where applicable, section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; _or_
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Nigel V Skillen FCA**
Diamond & Skillen Fellow of the Institute of Chartered Accountants in Ireland Sinclair House 89/101 Royal Avenue Belfast BT1 1FE
30th September 2024
_Page 6 of 13_
**Diamond & Skillen** Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland Financial Statements for the year ended 31st December 2023**
## **Statement of Income and Expenditure (Receipts and Payments Account) for the year ended 31st December 2023**
|Notes|Totals
2022
£
**Totals**
**2023**
**£**
Endowment
funds
£
Restricted
funds
£
Unrestricted
Funds
£|
|---|---|
|
**Fund balances c/f at 31st December**
Fund balances b/f at 1st January
**_Reconciliation of funds_**
**Net movement in funds for the year**
11
Increase/(decrease) in fair value of
investments
9
Transfers between funds
Depreciation
**Net (expenditure) / income for the year**
**Total expenditure**
4
Other expenses
4
Legal and professional fees
**_on other items_**
4
Programme costs
4
General administration costs
4
Diocesan Assessment
4
Premises & insurance costs
**_on charitable activities_**
4
Promotional costs
**_on raising funds_**
**PAYMENTS**
**Total income**
3
Investment income
**_from investments_**
3
Other income
3
Gift Aid tax refunded
**_from other activities_**
3
Special collections
**_from charitable activities_**
3
Grants and Donations
**_from donations and legacies_**
**RECEIPTS**|6,839
**7,476**
0
64
7,412
9,398
**11,555**
-
-
11,555
0
**0**
-
-
0
1,995
**1,817**
-
-
1,817
29,066
**36,563**
-
-
36,563|
||47,298
**57,411**
0
64
57,347|
||330
**336**
-
0
336
5,630
**900**
-
-
900
8,040
**9,229**
-
-
9,229
152
**163**
-
-
163
19,564
**21,350**
-
-
21,350
23,040
**35,887**
-
-
35,887
0
**0**
-
-
0|
||56,756
**67,865**
0
0
67,865|
||(19,799)
**12,828**
12,828
-
-
0
**0**
-
2,500
(2,500)
0
**0**
-
-
-
(9,458)
**(10,454)**
0
64
(10,518)|
||(29,257)
**2,374**
12,828
2,564
(13,018)|
||488,590
**459,333**
254,796
8,299
196,238|
||459,333
**461,707**
267,624
10,863
183,220|
The statement of income and expenditure includes all receipts and payments in the year. All receipts and payments derive from continuing activities. The notes on pages 8 to 12 form part of these financial statements.
_Page 7 of 13_
**Diamond & Skillen** Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland Financial Statements for the year ended 31st December 2023**
## **Statement of Assets and Liabilities (Balance Sheet) as at 31st December 2023**
|Notes|2022
£
**2023**
**£**|
|---|---|
|**Total funds**
15
Endowment Fund
**_Endowment funds:_**
15
Cottage Fund
15
Bowling Club Fund
15
Hill Organ Fund
**_Restricted income funds:_**
15
General funds
**_Unrestricted income funds:_**
**THE FUNDS OF THE CHARITY**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET CURRENT ASSETS**
**PAYABLES**: amounts falling due within one year
12
Cash and cash equivalents
**CURRENT ASSETS**
11
Investments
**INVESTMENTS**
10
Tangible assets
**NON CURRENT ASSETS**|155,000
**155,000**|
||155,000
**155,000**|
||254,796
**267,624**|
||254,796
**267,624**|
||49,537
**39,083**|
||-
**-**
49,537
**39,083**|
||49,537
**39,083**|
||459,333
**461,707**|
||254,796
**267,624**
0
**0**
0
**0**
8,299
**10,863**
196,238
**183,220**|
||**459,333**
**461,707**|
The notes on pages 8 to 12 form part of these financial statements.
The financial statements on pages 3 to 12 were approved by the Select Vestry on 30th September 2024 and signed on their behalf by:
———————————— ————————————
**Shelagh Winter** Trustee
**John Matchett** Trustee
_Page 8 of 13_
**Diamond & Skillen** Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland Financial Statements for the year ended 31st December 2023**
## **Notes forming part of the Financial Statements for the year ended 31st December 2023**
## **1. Accounting Policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
- **1.1**
## **Statement of compliance**
These accounts have been prepared on the Receipts & Payments basis in accordance with the The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015.
St Aidan’s Kilmore Parish Church meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant note(s).
- **1.2 Preparation of the accounts on a going concern basis**
The Trustee’s policy is to undertake ongoing review of the ‘Going Concern’ status of the charity, taking note of the organisation’s reserves policy and projected availability of funds to enable the organisation to fulfil its responsibilities. A statement on the outcome of the ongoing review is given at note 15 on page 12.
## **1.3**
## **Receipts and Payments Account**
All items of revenue and expenditure are recognised and included in the accounts on a cash basis.
- **1.4 Interest received**
Interest on funds held on deposit is included when received.
- **1.5 Fund accounting**
**Unrestricted funds** are general funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. The fund comprises the accumulated surpluses and deficits of unrestricted income and expenditure.
**Restricted funds** are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of administering such funds are charges against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
**Endowment funds** are funds, the capital of which must be retained either permanently or at the trustees’ discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. Investment income and gains are allocated to the appropriate fund.
- **1.6 Non Current Assets (Fixed Assets)**
Fixed Assets are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £2,500 are not capitalised. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life. The estimated lives are shown below:
- Land. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Indefinite
- Buildings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 years
- Furniture, fixtures and equipment. . . . . . . . . . . . 10 years
## **1.7 Receivables**
Trade, other receivables and prepayments are not recognised as the accounts are prepared on a Receipts and Payments basis.
## **1.8**
## **Cash and cash equivalents**
Cash and cash equivalents includes bank deposits, cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.9 Payables and provisions**
Payables and provisions are not recognised as the accounts are prepared on a Receipts and Payments basis.
## **2. Legal status of the charity**
St Aidan’s Kilmore Parish is a charity registered in Northern Ireland no. NIC104084.
_Page 9 of 13_
**Diamond & Skillen** Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland Financial Statements for the year ended 31st December 2023**
**Notes forming part of the Financial Statements for the year ended 31st December 2023 (cont’d)**
## **3 INCOME**
||||Unrestricted|Restricted|Endowment|**Totals**|Totals|
|---|---|---|---|---|---|---|---|
||||Funds|funds|funds|**2023**|2022|
||||£|£|£|**£**|£|
||**_from grants, donations and legacies:_**|||||||
|||Freewill Offerings|26,507|-|-|**26,507**|26,446|
|||Plate Collections|2,033|-|-|**2,033**|2,620|
|||Other Donations|8,023|-|-|**8,023**|0|
|||In Memoriam|0|-|-|**0**|0|
||**_from charitable activities:_**|||||||
|||Special Collections|821|-|-|**821**|649|
|||Special Lunches (2022: Big Breakfast)|996|-||**996**|1,346|
||**_from other activities:_**|||||||
|||Gift Aid tax refunded|0||-|**0**|0|
|||Other income|11,555|-|-|**11,555**|9,398|
|||RCB Distributions|7,062|-||**7,062**|6,763|
||**_from investments:_**|||||||
|||UK bank interest received|350|64|0|**414**|76|
||||57,347|64|0|**57,411**|47,298|
|**4**|**EXPENDITURE**|||||||
|||Unrestricted|Restricted|Endowment|**Totals**|Totals|
|---|---|---|---|---|---|---|
|||Funds|funds|funds|**2023**|2022|
|||£|£|£|**£**|£|
|**_on_**|**_raising funds:_**|0|-|-|**0**|0|
|**_on_**|**_charitable activities:_**||||||
|**_Premises and insurance costs:_**|||||||
||Water Rates|244|-|-|**244**|150|
||Heat and light|16,714||-|**16,714**|6,036|
||Insurance|2,803|-|-|**2,803**|2,609|
||Repairs and Property projects|15,128|-|-|**15,128**|13,061|
||Other premises expenses|998|-|-|**998**|1,184|
|**_Diocesan Assessments:_**|||||||
||Sustentation|14,179|-|-|**14,179**|13,132|
||Employer NIC|1,495|-|-|**1,495**|1,143|
||Clergy Pension Fund|2,586|-|-|**2,586**|2,373|
||Expenses of Office allowance|429|-|-|**429**|393|
||Diocesan expenses|2,614|-|-|**2,614**|2,471|
||Legal expenses insurance|47|-|-|**47**|52|
|**_General administration costs:_**|||||||
||Printing, postage and stationery|163|-|-|**163**|152|
||Telephone, computer and internet|0|-|-|**0**|0|
|**_Programme costs:_**|||||||
||Charitable Projects|4,049|-|-|**4,049**|8,040|
||Visiting Clergy|100|-|-|**100**|130|
||Organist & Registrar|5,080|||**5,080**|4,900|
|**_on_**|**_other items:_**||||||
|**_Legal and professional fees:_**|||||||
||Other governance costs|900|-|-|**900**|600|
|**_Other expenses:_**|||||||
||Bank charges|336|0|-|**336**|330|
||Sundry expenses|||-|**0**|0|
|||67,865|0|0|**67,865**|56,756|
_Page 10 of 13_
**Diamond & Skillen** Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland Financial Statements for the year ended 31st December 2023**
**Notes forming part of the Financial Statements for the year ended 31st December 2023 (cont’d)**
## **5 Staff costs and numbers**
||Totals
2022
£
**Totals**
**2023**
**£**
Restricted
funds
£
Unrestricted
Funds
£|
|---|---|
|Organists and Registrar
Visiting Clergy|4,900
**5,080**
-
5,080
13
**13**
-
13|
||4,913
**5,093**
0
5,093|
No employee received emoluments of more than £60,000
The average number of persons, including part-time staff, employed on UK contracts was 0 (20 22: 0) The trustees consider that the charity has no employees during the financial year.
The Organist’s duties are performed under a contract for services.
Payments made to the Graveyard Registrar are a donation towards offsetting some of the travel costs incurred; each death/burial can require four or five return journeys (some 17 miles).
## **6 Net incoming resources for the year**
||Totals
2022
£
**Totals**
**2023**
**£**
Endowment
funds
£
Restricted
funds
£
Unrestricted
Funds
£|
|---|---|
|Independent examiner’s remuneration
_Net incoming resources are stated after charging:_|600
**900**
-
-
900|
## **7**
## **Trustee remuneration and Related Party Transactions**
No trustee received any remuneration as a result of their Trusteeship of the Charity.
One Trustee received payments from the Representative Church Body (RCB) which is regarded as a related party to the Charity. The RCB receives payments from the Charity by way of Diocesan Assessment - these charges are levied to cover Sustentation, National Insurance and Clergy Pension Fund contributions due to, or on behalf of, the incumbent, in addition to a contribution to the Diocesan Expenses Account. The details are as follows:
The Rector is employed by the Representative Church Body and the charity funds his stipend and expenses (in partnership with other charities) through the Diocesan Assessments.
- Name of trustee:
Rev Carlton Baxter
- Details of why the amounts are paid: Rector (incumbent) of the Parish
- Amount of Diocesan Assessments charged: £21,350
The breakdown of the Diocesan Assessment charges is given at note 4 on page 9
No other trustee or other person connected to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2022 - Nil).
## **8 Taxation**
As a charity, the Church is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or 2256 of the Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
## **9 Transfers between the funds**
||**Totals**
**2023**
**£**
Endowment
Funds
£
Restricted
funds
£
Unrestricted
Funds
£|
|---|---|
|Transfer to Hill Organ Fund|**0**
0
2,500
(2,500)|
||**0**
0
2,500
(2,500)|
**Diamond & Skillen**
_Page 11 of 13_
Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland Financial Statements for the year ended 31st December 2023**
**Notes forming part of the Financial Statements for the year ended 31st December 2023 (cont’d)**
## **10 Non Current Assets**
||Totals
£
Furniture,
fixtures &
fittings
£
Land
&
buildings
£|
|---|---|
|At 31st December 2022
At 31st December 2023
**Net Book Value**
At 31st December 2023
Charge for year
At 1st January 2023
**Depreciation**
At 31st December 2023
Additions
At 1st January 2023
**Cost**|0
-
-
155,000
-
155,000|
||**155,000**
**0**
**155,000**|
||0
-
-
0
-
-|
||**0**
**0**
**0**|
||**155,000**
**0**
**155,000**|
||155,000
0
155,000|
The Church building and graveyard are deemed to be Heritage Assets as defined in the Charities SORP(FRS102).
These Heritage Assets are not included in the statement of assets and liabilities as information on their historic 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 to the Parish.
The Church Hall is in the Church grounds and as such is not separable as an asset. As such it is deemed to be a part of the Heritage Assets and no value is ascribed to it in the statement of assets and liabilities.
The Trustees declare that these assets had the following insurance values as at 31st December 2023: Church Buildings & Contents - £1,865,962; Church Hall Buildings & Contents - £746,385; Offices - £9,810.
All fixtures and fittings are deemed to have been fully depreciated in prior years’ accounts. No attempt has been made to quantify the historic cost of the fixtures and fittings, many of which fall within the definition of Heritage Assets in the Charities SORP(FRS102), as this information cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the Parish.
Land & Buildings comprises 12.5 acres of agricultural land with a run-down cottage.
## **11**
## **Investments**
||Totals
2022
£
**Totals**
**2023**
**£**|
|---|---|
|Valuation at 31st December 2023 - 61,678.7 units @ £4.339
Increase/(Decrease) in value
Valuation at 1st January 2023 - 61,678.7 units @ £4.131
**Investment in R.B. General Unit Trusts (N.I.)**|(19,799)
**12,828**
274,595
**254,796**|
||254,796
**267,624**|
Investments are initially recorded at cost and are then subsequently stated at fair value at each year end date. Unquoted investments are recorded at cost and assessed annually for impairment.
## **12 Cash and cash equivalents**
||Totals
2022
£
**Totals**
**2023**
**£**|
|---|---|
|Closing balance of cash and cash equivalents
Movement in the year
Opening balance of cash and cash equivalents|**(9,458)**
**(10,454)**
**58,995**
**49,537**|
||49,537
**39,083**|
**Diamond & Skillen**
_Page 12 of 13_
Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE
## **Portadown/Kilmore/St Aidan’s/Armagh/Church of Ireland Financial Statements for the year ended 31st December 2023**
**Notes forming part of the Financial Statements for the year ended 31st December 2023 (cont’d)**
## **13 Analysis of charity net assets between funds**
||**Totals**
**2023**
**£**
Endowment
funds
£
Restricted
funds
£
Unrestricted
funds
£|
|---|---|
|Current Assets - cash and cash equivalents
Investments
Non Current Assets|**39,083**
-
8,363
30,720
**267,624**
267,624
-
-
**155,000**
-
-
155,000|
||**461,707**
267,624
8,363
185,720|
## **14 Financial Commitments**
At 31st December 2023 the charity has no annual commitments under non-cancellable leases nor any other financial commitments that are not recognised in the accounts (2022: £nil). The charity has entered into a number of long term contracts for the supply of services all of which are cancellable.
## **15 Statement of Funds**
||**At**
**31 Dec 23**
**£**
Transfers
£
Outgoing
resources
£
Incoming
resources
£
At
1 Jan 23
£|
|---|---|
|**Total funds**
**Total endowment funds**
Endowment funds
**Total restricted funds**
Hill Organ Fund
**Total unrestricted funds**
General reserve|**183,220**
(2,500)
(67,865)
57,347
196,238|
||**183,220**
**(2,500)**
**(67,865)**
**57,347**
**196,238**|
||**10,863**
2,500
0
64
8,299|
||**10,863**
**2,500**
**0**
**64**
**8,299**|
||**267,624**
-
0
12,828
254,796|
||**267,624**
**0**
**0**
**12,828**
**254,796**|
||**461,707**
**0**
**(67,865)**
**70,239**
**459,333**|
## **Summary of the Aim and Use of Unrestricted Funds**
_**The general reserve** represents the free funds of the charity which are not designated for particular purposes_ _**.**_
## **Summary of the Aim and Use of Restricted Funds**
_**Hill Organ Fund** - to provide for the ongoing management and maintenance of the Hill Organ_
## **16 Going concern**
The Trustees consider that the charity has sufficient funding in place to continue its operations in the near future and thus deem the use of the going concern basis to be appropriate.
_Page 13 of 13_
**Diamond & Skillen** Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE