Markethlll/Mullabrack. St John5, Armag
, Church
f Ireland
Annual report and flnanclal st
tements
For the year ended 31 Decem
er 2022
Charltles Number: Nl 10
86

Annual report and flnanclal statements for the year ended 31 Decem
er 2022
Contents
Pages
References and admlnistratlve details
Trustees, Annual Report
4-6
Independent Examinerfs report to the Trustees
Statement of financlal actlvltles
Statement of flnanclal posltlon
Statement of cash flows
io
Notes to the flnancial statements
11-19

Markethill/Mullabrack, St Johns, Arnia
, Church of Ireland
Referenos and admlnlstratlve detalls
Charlty Name:
Markethlll/Mullabrack, St Jo
ns, Arma8h, Church of Ireland
Charlty Registratlon Number:
NI 104086
Contact Addres5:
c/0 116A Tandragee Road. M
rkethlll. Co Armagh, BT60 1
Trustees
Jackson Anderson
Sonya Barnes
Alfred Collen
Jacquellne Farrell
Kenneth Gilmore
Jonathan Hull
Andrew Johnston
Colln Kerr
51mon Marshall
Matthew Mccracken
Elizabeth Mccreary
Judith Menary
Peter Munce
Barbara Orr
Lorna Quln
Phillp Reid
Wllllam Reld
Lewls Singleton
Gregory Wllson
Prlnclpal Offlce.bearer$
Clergy:
Church Secretary:
Church Treasurer:
Church Warden- Clergy:
Church Warden- People..
Peter Munce
Matthew Mccracken
Jonathan Hull
Judlth Menary
Lorna Quin
Independent Examlner
Joanne O'Brlen
Bankers
Danske Bank
4548 High Street
Portadown
Co Armagh
BT62 ILB

Trustees. Annual Report for the year ended 31 December 2022
The trustees present the annual report and statement5 of Receip
Markethill/Mullabrack, St Johns, Armagh, Church of Ireland for the yea
s and Payments and Assets and Liablllties for
ended 31 December 2022.
Objectlves and Actlvltles
The charitable purpose of the Church of Ireland is the advancement of
Ilgion.
The principal functlon of Markethill/Mullabrack, St Johns, Armagh, Chur
Chrlstlan religlon by promotlng, through the work of the Markethilllm
h of Ireland is to support the advancement of the
whole mlssion of the Church, pastoral. evangelistlc, social and ecumeni
Ilabrack, St Johns, Armagh, Church of Ireland the
whole and offering support forthose needlng help are fundamental to t
l. Bein8 open to and engagin8 Wlth society as a
As a result of actlvity in the pursuit of the advancement of the Christian
e prartical delivery of the benefits of Chrlstlanlty.
eliEion, Markethllllmullabrack, St Johns, Armagh,
Church of Ireland has custody of property and of records, materials and artefacts of signlficance to the cultural and rellglous
heritage and maintenance of whlch is undertaken by the Select Vestry of the Markethill/Mullabra¢k, St Johns, Armagh,
Church of Ireland.
Achlevements, Performance & Publlc Beneflt
The high polnt of our week Is on a Sunday when we meet together for
orshlp, prayer and to listen and learn frorn God's
word. Durlng the week we provlde pastoral care and support to over IPOO people In the Markethlll and Hamiltonsbawn
area of Co Armagh particularly through home and hospStal visits. We s
and overseas through partnerln8 wlth Indlvldual churches and mlss10
pport mlssion and outreach work in thls country
occaslons, personal volunteers.
agencles, provldlng flnanclal assistance and on
We have numerous groups and clubs runnlng In our church halls whlch c
Girls Friendly Society, Bowllng Club, Pilates Class. Mothers Unlon, Par
Schools, Children's and Youth Summer schemes.
ter for all ages and many interests. Boys Brlgade,
'nt & Toddlers/Babies, Youth Fellowship, Sunday
These activltles fulfil our objectlves and charltable purpose and have p
alm to contrlbute not only to the splritual well-being of people but the
Iso. Our actlvitles are open to all and are free at the polnt of use. Th
voluntary donations and contributions.
ovlded public benefit. Through our actlvltles we
r physlcal. practlcal, soclal and emotlonal needs
e are no fees charged. Our charlty Is funded by
We have miti8ated any potential harm from the activltles e.g. We uph
protection policy-°Safeguardlng Trust. whlch Sncludes undertaking Ris
Flnanclal Revlew
d the standards of the Church of Ireland's Chlld
Assessments of rooms, bulldings and events.
The charlty had a deflclt of recelpts over payments of £8,036 fo
the year ended 31 December 2022.
The charity contlnues to be In a healthy financlal state as at 31
ecember 2022 wlth total cash funds of £109,713
The charlty alms to retain sufficlent reserves to meet It5 expe
potential future capital projects.
ed future expenditure requirements as well as
Going Concern
The trustees have reviewed the budgets for the year ahead and are sat
ensure that the Parish can continue its attivitles and the financial state
be signed off as a going concern.
5fied that there are adequate funds In place to
ents for the year ended 31 December 2022 can

Trustees, Annual Report for the year ended 31 December 2022 (contln
ed)
structure, Governance and Management
Governlng Document ond Constltutlon oAthe Chorfty
Chapter111 of the Constltutlon of the Church of Ireland governs Parlsh
members are the Charlty Trustees.
s and Parochial Organisation. The Select Vestry
Recruftment andAppolntment of Select Vertry
All members of the Church of Ireland who are overthe age of 18 and are
ither resident within the parish or live elsewhere
but have been accustomed members of the congregation forat leastthreb months, may registeras members of thegeneral
vestry of the parish, allowing them to attend and vote at meetings of ttye general vestry and to stand for elettion to the
select vestry. Meetln85 of the general vestry are held at least once a
General Vestry meeting. The Select Vestry will hold their posltlons for a
vear. The select Vestry is elected as part of this
re-elected annually and there Is no Ilmlt on the number of terms whlch
eriod of one year. Select Vestry members may be
ay be served.
Pay and remuneratlon
The Incumbent (Rector) of the Parlsh stlpend Is pald dlrectly by the Di
flgures approved by the General Synod of the Church of Ireland together
cese, and receives a stipend In accordance wlth
ith approved offlce and locomotory allowances.
Organlsatlonal Structure
The select vestry is responslble for the day to day management of the p
the cler8y serving In the parish, any curate asslstant 1.the curate"), the
not more than twelve other members of the general vestry elected at th
rlsh. The select vestry consists of the member of
hurchwardens, the glebe wardens and generally
General Vestry.
The select vestry Is chalred bythe Incumbent or other member ofthe cler
are responslble for maklng decSsions on matters of general concern and
parlsh funds are to be applled.
y officiatlng In the parlsh. Select vestry members
Importance to the parlsh Includlng decldlng how
The select vestry meets at times fixed by the members or by the dioces
any time by the chairperson or the churchwardens. In 2022 the Select V
attendance was 71%.
n synod. Speclal meetlngs may be convened at
stry met 8 tlmes durlng the year and the average
Compllance wlth Publlc Beneflt
The Parlsh has glven careful conslderatlon to the Charlty Commlsslon for
ensure that the actives entered Into durlng the year have helped to achl
as providin8 public beneflt.
Northern Ireland's guldance on public benefit to
ve the Parish's objectlves and attlvltles, as well
Statement of Trustees. Responslbllttles
The trustees are responsible for preparlng theTrustees' Report and the fl
law and regulations.
anclal statements In accordance wlth applicable
The law applicable to charities in Northern Ireland requlres the trustees
prepare financial statements for each financial
year. Under that law the trustees have prepared the flnancial statethents in accordance with Generally Accepted
Accountlng Practice in the United Klngdom laccounting standards issu
Includlng Charities SORP IFRS 1021 "Accounting and Reporting by C
by the Flnancial Reporting Council in the UK,
applicable to charities preparing their accounts in accordance with the F
arities: Statement of Recommended Practice
and Republic of Ireland IFRS 1021" Under that law the trustees must not
nanclal Reporting Standard applicable In the UK
satisfied that they give a true and fair view of the state of the affairs of the
pprove the financlal statements unless they are
of the charity for that period.
harlty and of the statement of financlal activities

Trustees, Annual Report for the year ended 31 December 2022 Icontln
ed)
In preparing these financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistentl
makejudgments and estlmates that are reasonable and prudent
state whether the financial statements have been prepared in acco
identlfy the standards In question, subject to any material departu
statements and
prepare the financial statements on the goln8 concern basls unle55
ontinue as a 80ing concern.
dan￿ with applicable Accounting Standards and
es being disclosed and explained in the financial
t 15 inapproprlate to presume that the Parish will
The trustees are responslble for keepln8 accounting records that
transactSons and dlsc105e with reasonable accuracy at any time the flna
ensure that the financial statements comply with the Charlties Act IN
Reports) Regulations (Northern Ireland) 2008 and the provlsion of the C
responsible for safeguardlng the assets of the Parish and hence for
detectlon of fraud and other irregularities.
re sufflclent to show and explain the Parlsh's
clal position of the Parish and enable them to
rthern Ireland) 2008, the Charlty (Accounts and
nstitution of the Church of Ireland. They are also
aking reasonable steps for the preventlon and
Statement as to dlKlosure to our examlners
In so far as the trustees are aware at the timlng of approving our truste
there is no relevant information of which the charitable compa
the trustees have taken all steps that they ou8ht to have ta
Informatlon and to establlsh that the compan¢s examlner Is a
s, annual report:
y's examiner Is unaware and
en to make themselves aware of any relevant
are of that Informatlon.
Independent Examlner
The examlner, Joanne O'Brlen, has Indlcated her wllllngness to continue
reappolntment wlll be proposed at the next Annual Easter Vestry Meetl
In office, and a resolution concernlng thelr
On Behalf of the Trust
es
Trustee I: Matthew Mccracken
Trustee 2.. Jonathan Hull
Date:

Independent Examlners Report to t
MarkethilllMullabracK St Johns, Armag
e Trustee? of
, Church o
Ireland
We report on the accounts of Markethilllmullabrack, Stjohns. Armagh,
2022, which are set out on pages 8 to 19.
hurch of I
eland forthe year ended 31 December
Respectlve responslbllltles of Charlty Trustees and examlner
As the charitvs Trustees you are responsible for the preparation of t
(Northern Ireland) 2008.
e accoun
In accordan￿ with the Charities Art
It Is our responsiblllty to:
Examlne the accounts under sertlon 65 of the Charltles Act.
Follow the procedures laid down In the general Directions give
Charlties Act.
State whether particular matters have come to our attentlon.
by the Co
mlsslon under section 65{91{bl of the
Basls of Independent examlnerf$ report
We have examined your charltyaccounts as rÈqulred under sectlon 65 of
out In accordance wlth the 8eneral dlrections glven by the Charlty Com
of the Charitles Act.
he CharitiesArtand our examlnatlon was carried
isslon for
orthern Ireland under settion 6519llbl
Our examlnation Included a revlew of the accountin8 records kept b
presented wlth those records. It also included consideratlon of any u
seekln8 explanations from you as charlty Trustees concernlng any such
the chari
usual Ite
atters.
and a comparlson of the accounts
s or dlsclosures In the accounts, and
Our role Is to state whether any materlal matters have come to our atte
tlon glvln
us cause to belleve:
That accountlng records were not kept in accordance with
That the accounts do not accord wlth those accountlng rec
That the accounts do not comply with the accounting requi
That there Is further Information needed for a proper unde
ectlon 63
rds.
ement5 0
standing
f the Charltles Act.
the Charltles Act.
f the accounts to be reached.
Independent examlnerfs statement
We have completed our examinatlon and have no concerns In respe
connection wlth following the Directions of the Charlty Commisslon for
require drawlng to your attentlon.
of the
orthern Ir
atters {1) to (41 listed above and, In
land, we have found no matters that
Joanne O'Brlen
Date:

Statement of Financlal Activltles for the year ended 31 December 202
Unrestrlcted
Funds
2022
RestrlrtPd
Funds
2012
Endowment
Funds
2022
Total
2022
Total
2021
Note
Income
Donation5 & legacies
Other tradlng activltles
Investments
Charitable activltles
Other income
112,023
2,330
10,962
6,459
112,023
2,330
10,962
6,459
384,932
565
7.068
5,451
Tot I Incom
131,774
131,774
398,016
Ex
endlture on:
Generating funds
Charltable actlvities
Other
Total Ex
1139,8101
1139,810)
{133,7261
endlture
1139,8101
(139,8101
1133,7261
Net In¢ome/{Expendlture) before
transfers
18,0361
18,0361
264,290
Transfers between funds
6,938
16,9381
Net Incomel(Expendlture) before
other re¢o8nlsed 8alns and losses
11,0981
16,9381
18,0361
264,290
Galn/lLossl on Investments assets
Depreciatlon
{io,00
{io,0001
iio,0001
Net movement In funds
11,0981
iio,00
{6,9381
118,0361
254,290
Reconclllatlon of fundg..
Total funds brought forward
T tal funds carrled f
ward
164,319
163,221
1.310,0
1,300,000
74,354
367,416
1,848,673
1,830,637
1,594,383
1.848,673

Statement of Flnanclal Posltlon as at 31 De￿rnber 2022
Note
2022
2021
Flxed Assets
Tangible Fixed Assets
Investment Propertles
Investments
Total flxed a55ets
li
12
13
1,300,000
155,000
265.924
1,720,924
1,310,000
155,000
265.924
1,730,924
Current Assets
Debtors
Cash and cash equivalents
Total current assets
14
109,713
109,713
118,649
118,649
Credltors- amounts fallln8 due wlthln one year
Accruals and other credltors
Bank Loans
Total credltors
15
15
{9001
19001
Net Current Assets
109,713
117,749
Total net Assets
1,830,637
1,848,673
The funds of the parlsh
Unrestrlcted funds
General funds
Designated funds
Total unrestrlcted funds
Restrlcted Funds
Endowment Funds
17&18
8,221
155,000
163,221
1,300.000
367,416
9,319
155.000
164.319
1,310,000
374.354
17&18
17&18
Total charlty funds
22
1,830,637
1,848,673
The notes on pages 11 to 19 are an Integral part of these financial state
ents.
The financial statements on pages 8 to 10 were approved by the Board
Its behalf by:
th
Trustees on 20 February 2023 and slgned on
Trustee I: Matthew M
racken
Trustee 2.. Jonathan Hull

Statement of Cash Flows for the year ended 31 December 2022
Total
funds
2022
Total
funds
2021
Cash flows from operatln8 actlvltles:
Net cush provlded by (used Inj operatlng actlvltles
122,2281
257,558
Cash flows from Inve5tln8 actlvltles:
Dividends, interest and rents from Investments
Proceeds from the sale of property, plant and equlpment
Purchase of property, plant and equlpment
Proceeds from sale of investments
Purchase of Investments
13,292
7,633
1250.0001
Net cush provlded by (used In) Investlnq artivltles
13,292
1242,3671
Cash flows from flnancln8 a¢tlvltles'.
Repayments of borrowlng
Cash Inflows from new borrowlng
Receipt of endowment
Net cash pmvlded by (used Inlflnonclnq actlvttles
Chanqe In cash and cash equfvolents In the reportlnq perlod
Cash and cash equlvalents at the beglnnlng of the reportln8 perlod
Change In cash and cash equlvalents due to exchange rate movements
Cash and cash equlvalents at the end OA the reportlnq perlod
18,9361
118,649
15,191
103,458
109,713
118,649
10

Notes to the financial ststements for the year ended 31 December 20
l. Accountln8 polldes
The prlnclpal accountlng pollcles adopted, judgements and key sources
financial Statements are as follows..
f estimati
n uncertalnty in the preparation of the
a) Basls of preparatlon
The financial statements have been prepared on a going concern basis
Charities: Statement of Recommended Practice applicable to charities
Financial Reporting Standard applicable in the UK and Republic of Irelan
in accorda
ce wlth Accounting and Reporting bv
preparing Iheir accounts In accordance wlth the
IFRS 102)- (Charltles SORP IFRS 102)).
The Parlsh meets the deflnltlon of a publlc benefit entlty under FRS I
historlcal cost and transaction value unless otherwlse stated in the rele
2. Assets gnd Ilabllities are inltlally recognised at
ant accou
ting policy notelsl.
b) Preparatlon of accounts on a golng concern basls
Thé Parish generally meets its day to day worklng capltal requlrements fr
and reviewed tash flow forecasts for the comlng year and based on th
provide a reasonable expectation that It can contlnue to meet Its flnanc
future. Therefore these financial statements have been prepared on a 8
m Its ann
al income. TheTrustees have obtained
se are sallsfied that the Parlsh has resources to
al obllgations as they fall due for the foreseeable
Ing conce
n basls.
c) Income
Plate Collections, Weekly Envelopes and Graveyard Income are accoun
collected.
ed for on
cash recelpts basls as the amount Is
Income arlslng from the rental of Parlsh Centre facllltles to thlrd partles
the funds, any performance condltlon5 attached to the Income have
recelved and the amount can be measured rellably.
Is recognlsed when the parlsh has entltlement to
een met,
t Is probable that the Income wlll be
Income from 8overnment and other grants, whether'capltal, 8rant5 Or,
has entitlement to the funds, any performance conditions attached to
Income will be received and the amount can be measured reliably and i
evenue, g
he grants
not deferr
ants, are recognised when the charlty
ave been met, It is probable that the
Legacles are Included wlthin Income under elther unrestrltted or restrl
donation Is made and when the amount can be quantlfied with reaso
brought into the accounts at thelr falr value to the Parlsh.
ed funds atcording to the terms under whlch the
able cert
inty. Donations and 8ifts in kind are
d) Expendlture
Expenditure Is recognlsed once there Is a legal or constructive obligatlon
that settlement will be required and the amount of the obligation can b
to makea
measured
ayment to a thlrd party, It is probable
rellably.
Irrecoverable VAT Is charged as a cost agalnst the attivity for whlch the
xpenditur
was incurred.
11

Notes to the flnanclal statements for the year ended 31 December 20
l. Accountin8 pollcles (contlnued)
e) Tan8lble assets
The assets of the Parish compr15e.'
Church Buildings x 2 and Graveyard
Parish Centre
Glebe House
Resldential Investment property
Fixtures and flttin8S
The Church Bulldlngs and Graveyard are deemed to be Herltage assets a
These Heritage assets are not included on the balance sheet as Inform
such information cannot be obtained at a cost commensurate with th
parlsh.
defined by the Charltles SORP (FRS102)
ion on the cost or valuation Is not available and
benefit to the users of the accounts and to the
The Parish Centre Is recognised at cost of constructlon / acquisltlon,
centre buildlngs as the current estlmated re51dual value Is not less tha
currently exceeds 50 years.
o depreclation has been provlded on the parlsh
Its carrying value and the remalnlng useful Ilfe
The Glebe House is recognlsed at cost / deemed cost, beln8 the estimate
No depreclatlon has been provided on the glebe house as the Current es
value and the remalnlng useful life currently exceeds 50 years.
falr value of the property at 31 December 2022.
Imated resldual value Is not less than Its carrylng
A resldentlal investment property was purchased In 2019 at a cost of£15
house as the Current estlmated resldual value Is not less than Its carryl
exceeds 50 years
.000. No depreciation has been provlded on the
g value and the remainlng useful Ilfe currently
Flxture5 and Flttln8s are recognlsed at cost and are depreclated on a stra
The assets, resldual values and useful Ilves are revlewed, and adjusted, If
The effect of any change Is accounted for prospectlvely.
ght Ilne basls over a perlod of 10 years.
pproprlate, at the end of each reportln8 perlod.
Tangible assets are derecognised on disposal or when no future eco
difference between the new dlsp05al proceeds and the carrylng amo
actlvitles and included In 'Other operatln8 {losses)/galns'.
omlc benefits are expected. On disposal. the
nt Is recognised in the statement of financlal
n Investments
Fixed asset Investments comprisin8 Investment propertles. Investments I
are Initlally recorded at cost and are then subsequently stated at falr va
equities and Investment In RCB/CIT Unlt Trusts
unquoted Investments are recorded at cost and are assessed annuall
ue at each balance sheet date. Investments In
represent the dlfference between the fair value at the be8lnnlng and end
for impairment. Unrealised galns and 1055es
the difference between cost and fair value at the end of the year. Re
of the financlal year or, If purchased in the year.
lised galns and losses represent the dlfference
between the proceeds on disposal and the fair value at the start of the yebr or cost if purchased in the year. Both realised
and unrealised gains and losses in investments are reported within
Statement of Financial Actlvities.
et Gains/{Losses) on Investments" wlthin the
g} Cash and cash equlvalent$
Cash and cash equivalents includes cash In hand, deposits held at c
Investments with original maturities of three months or less and bank
Credltors Amounts falling due within l year.
11 with banks, other short-term highly liquid
overdrafts. Bank overdrafts are shown wlthin
12

Notes to the financlal statements for the year ended 31 December 20
contlnu
l. Accountlng policles (contlnued)
h) Flnanclal Instrumerrts
The Parish only has financial assets and financlal Ilabilitles of a kind that qualify as basic financial instruments. Basic financial
instruments are initially reco8nised at transartion prlce and subsequently measured at their settlement value.
l) Funds
Fund5 are cla55ified as either restrlcted funds or unrestrlcted funds, defi
ed as follows.
Restrlcted funds are funds subjert to speclflc requlrements as to their use which may be declared by the donor or with
thelr authorlty or created through legal processes, but still within the willer objects of the Parish.
Endowment funds are funds whlch are held generally on the basls thal the orlginal capltal sum Is not reduced, and the
Income there from is used for the purpose deflned In accordance wlth the objects of the Parlsh. However the capital sum
may still be used at the dlscretion of the Select Vestry.
Unrestricted funds are expendable at the d15cretlon of the trustees In fu
herance of the objects of the charity. If parts of
the unrestricted funds are earmarked at the dlscretlon of the trustees for a particular purpose, they are designated as
separate fund. Thls deslgnatlon has an admlnlstratlve purpose only and
apply the fund.
oes not le8ally restrict the trustees, discretion to
2. Crltlcal a¢countln8 Judgements and estlmatlon uncertalnty
Estlmates and Judgments made In the process of preparlng the financlal statements are contlnually evaluated and are
based on hlstorlcal experlence and other factors, Includlng expectatlons of future events that are belleved to be
reasonable under the clrcumstances. The Trustees do not conslder that there are any crStlcal judgments made in applying
the Parlsh's accounting pollcies or that there are any crltlcal accountlng estlmates or assumptlons whlch may have
signlficant risk of causln8 a materlal adjustment to carrying amounts of assets and Ilabllltles wlthln the next flnancial
year.
3. Donatlons and legacles
Unrestrlcted
Funds
2022
Restrlcte
Fund
202
Endowment
Funds
2022
Total
2022
Total
2021
Plate Collections
Weekly envelopes / FWO
Tax recovered on Donations
Le8a¢ies
Endowment Income
Special Appeals
Grants
Other
87,344
17,763
87,344
17,763
76,279
17,013
269,021
2,019
2,051
16,816
1,733
384,932
2,009
1,543
300
3,064
112,023
2,008
1,543
300
3,064
112,023
13

Notes to the financlal statements for the year ended 31 December 202> Icontlnued)
other tradlng actlvltles
Unrestrlcted
Funds
2022
Restrlct
Fun
20
Endowment
Funds
2022
Total
2022
Total
2021
Rentals from Parish Centre
2,330
2,330
2,330
2,330
565
565
Investments
Deposlt Interest
Dlvldends recelved
Rental Income- Investment
Propertles
7,007
7,007
3,245
3,955
10,962
3,955
10,962
3,823
7,068
6. Charltable artlvltles
Graveyard Income
Other Income
2,115
4,344
6,459
2,115
4,344
6,459
1,665
3,786
5,451
Total InMme
131,774
131,774
398,016
7. Analysls of Expendlture
Unrestrlcted
Funds
2022
Restrl¢te
Fund
202
Endowment
Funds
2022
Total
2022
Total
2021
Generatlng Funds
Investment Managerfs Fees
Fundralslng costs
Other
Charltable Actlvltles
Wages and Salaries
Diocesan Costs/Assessment
Church Running Costs
Glebe Costs
Charitable Donations
Other
53,669
76,580
4,156
5,405
53,669
76,580
4,156
5,405
55,123
69,110
537
8,956
139,810
139,810
133.726
Total Expendtture
139,810
139,810
133,726
Governance costs of £0 were incurred durlng the year of which £0 relates to fees pald to the independent examiner.
Governance costs are included within Church Running Costs above.
14

Notes to the flnancial statements for the year ended 31 December 20
{￿ntInued)
Galn/(Loss) on Investment Assets
2022
2021
Unrea115ed falr value galnsl(losses) on Investments
Unrealised falr value gains/llossesl on investment
properties
Rea115ed galns / (losses) on investments
Reallsed gain5111ossesl on investment properties
9. Taxatlon
Markethllllmullabrack, St Johns, Armagh, Church of Ireland Is recognlsed as a charity for the purposes of appllcable
taxation leglslatlon and is therefore not subject to taxation on Its charitable a
tivitles.
10. Analysls of staff costs, trustee remuneratlon and expenses, and the cos
of key management personnel
Employees
2022
2021
Salarles and wages
National Insurance costs
Total
The average number of employees durln8 the year, calculated on the basls of a head count, was as follows:
2022
Number
2021
Number
Mlnlsterial support
Admlnlstration
Muslc staff
Premlses malntenance
There are no employees in receipt of employee benefits In excess
f £60,000
Key Management and Trustees
The parish paid expenses of £4,156 relating to the running costs of the gle
rector. No trustee received any remuneration or relmbursemenl of expens
role as trustee.
e house whlch Is occupled by the
s durlng the year In respect of their
One Trustee received £847 in total in payment for other professlonal work done for the charity.
No trustee or a person related to a trustee had any personal Int¢rest in an
by the charlty during the year.
contract or transactlon entered Into
15

Notes to the financlal statements for the year ended 31 De￿fflber 202
(contlnued)
11. Tanglble flxed assets
Flxtures &
Fittlngs
Bulldln8s
Total
Cost
At be8innln8 of the year
Additions
Disposals
At end of the year
1,250,000
loo,000
1,350,000
1,250,000
loo,000
1,350,000
Depreclatlon
At beginning of the year
Depreclation
Dlsposals
At end of the year
40,000
10,000
40.000
10,000
50,000
50,000
Net book value at be8innlng of the year
Net book value at end of the year
1,250,000
1,250,000
60,000
50,000
1,310,000
1,300,000
12. Investment Propertles
Balance at Be8lnnlng of the year
Addltlons durin8 the year
Dlsposals durlng the year
Falr Value Galns / (Losses)
Balance at end of the year
155,000
155,000
The year-end valuation of the Investment propertles has been based on Ihe purchase prlce in 2019.
13. Investments
Llsted
Invostments
Other
Investments
T¢)tal
Balance at beginnlng of the year
Additlons during the year
Dlsposals durlnB the year
Fair Value 8ain/lloss) on Investments
Balance at end of the year
,265,924
265,924
265,924
265.924
Analysls of Investments
Equity Investments
Other Listed Investments
Investments in RB Unit Trusts
Other unlisted Investments
65,924
265,924
265,924
265.924
16

Notes to the financial statements for the year ended 31 December 202
(continu
dl
14. Debtors
2022
2021
Sundry debtors
Other (detail where materlal)
15. Credltors Amounts Due wlthln l Year
2022
2021
Accruals and other creditors
Taxation and Social Security
Bank Overdrafts
900
900
16. Flnanclal Instruments
The company has the followln8 flnancial Instruments:
2022
2021
Loans and recelvables held at amortlsed cost
Investments
Cash and cash equlvalents
Sundry debtors
Other recelvables
Investment in short term deposlts
Flnan¢lal Ilabllltles measured at amortlsed cost
Bank loans and overdrafts
Accruals and other creditors
17. Analysls of Net Assets Amon8 Funds
General
Deslgnate
Restrlrted
Endowment
Total
Fixed Assets
Investments
Current Assets
Current Llabilities
Net assets at 31 Dec 2022
1,300,000
1,300,000
420,924
109,713
155,00
265,924
101.492
8,221
8,221
155,00
1,300,000
367.416
1,830.637
17

Notes to the flnanclal statements for the year ended 31 December 2012 (contlnued)
18. Funds of the Parlsh
Atljan
2022
At 31 Dec
2022
Incom
Expendltur•
Transfers
Endowment funds
General
374,354
{6,938)
367,416
374,354
(6.9381
367.416
Re5trlrted funds
Parlsh Centre
Glebe House
Fixtures & Flttlngs
950,000
300,000
60,000
1,310,000
950,000
300,000
50,000
1,300,000
iio,0001
iio,0001
Unrestrlcted funds
Designated- Investment Property
General
155,000
9,319
155.000
8,221
131,77
1139,8101
6,938
164,319
131,77
{139,8101
6,938
163,221
Total funds
1,848,673
131,77
1139,8101
iio,000)
1,830,637
19. Collertlon for Thlrd Partle5
2022
2021
LEMOOS
Nl Hosplce
CMSI
Diocesan Ministry Training Fund
Armagh Food Bankl
Crosslinks
SAMS
Irish Church Mlsslons
Leprosy Mlsslon
287
181
1,720
150
356
115
233
261
227
65
1.544
278
566
366
83
The amounts above have been Included In total Income for the year und
r and in total expendlture for the year.
20. Reconclllatlon of net In¢ome/lexpendtture) to cash flow from pperatlng •¢tlvltle$
2022
2021
Net Incomellexpendlture) for the reportlng perlod (as per the statement of
financial activitles)
Adjustments for:
Depreclation charges
Dlvidends, interest and rent from investments
Loss/lprofitl on the sale of fixed assets
Ilncreasel/decrease in debtors
Increaselldecrea5el in creditors
Rounding difference
Net cash provlded by (used In) operatlng activities
118,036)
254,290
10,000
113,2921
10,000
17,633)
{9001
900
22,228)
257,558
18