Markethllllmullabrack, St Johns, Armagh. Church of Ireland Annu•l report and financlal statements Forthe year ended 31 December 2024 Ch•rltle5 Number: Nl 104086
Annual report and flnanclal statements for the year ended 31 December 2024 Contents Page5 References and administrative detalls Trustees, Annual Report 44 Independent Examlner's report to the Trustees Statement of flnanclal actlvltles Statement of financlal posltlon Statement of cash flows io Notes to the flnanclal statements 11-19
Markethllllmullabrack, St Johns, Armagh. Church of Ireland References and admlnlstratlve detalls Charity Name: Markethilllmullabrack. St Johns. Arma8h, Church of Ireland Charity Re8iStration Number: NI 104086 ContactAddress: clo 116A Tandragee Road, Markethill, Co Armagh, BT60 Irr Trustees Alfred Collen Jacqueline Farrell Kenneth Gilmore Jonathan Hull Colln Kerr Simon Marshall Matthew Mccracken Ellzabeth Mccreary Judith Menary Peter Munce Barbara Orr Lorna Quin Lisa Rainey Philip Reid Wllliam Reid Lewis Singleton Jackson Wallace Gregory Wilson Prlnclpal Offlce-bearers Clergy.. Church Secretary.. Church Treasurer.. Church Warden- Clergy.. Church Warden - People,. Peter Munce Matthew Mccracken Jonathan Hull Llsa Rainev Slmon Marshall Independent Examlner Wylie Ruddell Chartered Accountants Armagh Buslness Centre 2 Loughgall Road Arrnagh BT617NH Bankers Danske Bank 4548 High Street Portadown Co Armagh BT62 ILB
Trustee< Annual Report for the year ended 31 Deomber 2024 The trustees present the annual report and statements of Receipts and Payments, Assets and Liabilities and cashflows for Markethill/Mullabrack, St Johns. Armagh, Church of Ireland for the year ended 31 December 2024. The principal address of the Charity is Mullabrack Rectory, 6 Mullurg Road. Mullabrack, Markethill. BT60 IQN. Trustees The followin8 trustees held office during the whole of the period from l January 2024 to the date of this report. Alfred Collen Jacqueline Farrell Kenneth Gllrnore Jonathan Hull Colin Kerr Simon Marshall Matthew Mccracken Elizabeth Mccreary Judith Menary Peter Munce Barbara Orr Lorna Quin Lisa Rainey Phillp Reid William Reid Lewis Singleton Jackson Wallace Gregory Wilson Oblectlves and Actlvltles The charltable purpose of the Church of Ireland Is the advancement of rellglon. The princlpal function of Markethill/Mullabra¢k, St Johns. Arma8h, Church of Ireland is to support the advancement of the Christian religion by promoting, through the work of the Markethill/Mullabrack. St Johns, Armagh. Church of Ireland the whole mission of the Church, pastoral, evangelistic, soclal and ecumenical. Belng open to and engaging with society as a whole and offering support for those needlng help are fundamental to the practical delivery of the benefits of Christlanlty. As a result of activity in the pursuit of the advancement of the Christian religion, Markethilllmullabrack, St John5, Armagh, Church of Ireland has custody of property and of records. materials and artefacts of sl8nificance to the cultural and religious herltage and malntenance of whlch Is undertaken by the Select Vestry of the Markethllllmullabrack, St Johns, Arrna8h, Church of Ireland. Achlevements, Performance & Publlc Benefft The hi8h point of our week is on a Sunday when we meet together for worship, prayer and to listen and learn from God's word. Durin8 the week we provide pastoral care and support to over 1000 people in the Markethill and Hamlltonsbawn area of Co Armagh partlcularly throu8h home and hospital visits. We support mission and outreach work in this country and overseas through partnerlng with indlvldual churches and mlssion agencles, providing financial asslstance and on occasions, personal volunteers. We have numerous groups and clubs running in our church halls which cater for all a8es and many interests. Boys Brigade, Girls Frlendly Society, Bowlin8 Club. Pllates Class, Mothers Unlon, Parent & Toddlers/Babies, Youth Fellowshlp, Sunday Schools, Children's and Youth Summer schemes. These actlvltles fulfil our objective5 and charltable purpose and have provided publlc beneflt. Through our actlvltles we alm to contribute not only to the spiritual well-beln8 of people but their physical. practical, social and emotional needs also. Our actlvltles are open to all and are free at the point of use. There are no fees char8ed. Our charity is funded by voluntary donations and contributions. We have mitigated any potential harm from the activities e.g. We uphold the standards of the Church of Ireland's Child protection policy-"Safeguarding Trust" which includes undertaking Risk Assessment5 of rooms, buildings and events.
MarkethllllMull•bra¢k, St John5, Armagh, Church of Ireland Trustees, Annual Report for the year ended 31 De¢ember 2024 l¢ontSnued) Flnanclal Revlew The charlty had a surplus of recelpts over payments of £118,466 for the year ended 31 December 2024. The charity continues to be in a healthy financial state as at 31 December 2024 with total cash funds of £247,174 The charlty alms to retain sufflcient reserves to meet Its expected future expendlture requlrements as well as potentSal future capitsl projects. Goln8 Con¢em The trustees have revlewed the budgets for the year ahead and are sètlsfied that there are adequate funds In place to ensure that the Parlsh Can Contlnue its activities and the financiol statements for the year ended 31 December 2024 can be slgned off as a golng concern. Strutture, Governance and Man•8•mont Governlnq Oo¢ument ond Con5tttutlon of the Chorty Chapter111 of the Constltutlon of the Church of Ireland govern5 Parlshes and Parochlal Or8anlsatlon. The Select Vestry members are the Charlty Trustees. Recrultment ondAppolntment ofselert Vestry All members of the Church of Ireland who are over the age of 18 and are elther resldent wlthln the parlsh or Ilve elsewhere but have been accustomed members of the con8re8atlon for at leastthree months, may re8lster as members of the general vestry of the parlsh, allowlng them to attend and vote at meetlngs of the 8eneral vestry and to stand for electlon to the select vestry. Meetln8s of the general vestry are held at least once a year. The Select Vestry 55 elected as part of thls General Vestry meetln8. The Select Vestry wlll hold thelr posltions for a period of one year. Select Vestry members may be re-elected annually and there Is no Ilmlt on the number of terms whlch may be served. P•y and remuner•tlon The Incumbent (Rectorl of the Parlsh stlpend Is pald dirertly by the Dlocese and recelves a stlpend In accordance wlth flgures approved by the General Synod of the Church of Ireland together wlth approved offlce and locomotory allowances. Org•nls•tlon•l Structur• The select vestry Is responslble for the day-to-day management of the parlsh. The select vestry conslsts of the member of the clergy seNing in the parish, any curate assistant 1.the curate"), the churchwardens, the glebe wardens and generally not more than twelve other members of the general vestry elected at the General Vestry. The select vestry is Chalred bythe Incumbent or other member of the clergy officlatlng in the parlsh. Select vestry members are responslble for makin8 declslons on matters of general concern and Importance to the parlsh Includln8 decldlng how parish funds are to be applied. The select vestry meets at tlmes ftxed by the members or by the dlocesan synod. Speclal meetlngs may be convened at any tlme by the chalrperson or the churchwardens. In 2024 the Select Vestry met 9 tlmes durln8 the year and the average attendance was 72%.
Markethlll/Mullabrack, St Johns, Arma8h, Church of Irel•nd Trustees, Annual Report for the year ended 31 December 2024 Icontlnued) Compllance wlth Publlc Benefft The Parish has given careful consideration to the Charity CommSssion for Northern Ireland's guldance on public benefit to ensure that the actives entered into during the year have helped to achieve the Parish's objectives and activities, as well s providing public benèfit. Statement of Trustees, Responslbllltles The trustees are responsible for preparing the Trustees, Report and the financial statements In accordance with appllcable law and regulatlon5. The law appllcable to charltles In Northern Ireland requlres the trustees to prepare flnanclal statements for each flnanclal year. Under that law the trustees have prepared the flnanclal statement5 In accordance wlth Generally Accepted Accountin8 Practlce in the United Kingdom laccountln8 Standards Issued by the Flnanclal Reportlng Councll In the UK, including Charities SORP IFRS 1021 "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charlties preparing thelr accounts In accordance with the Flnancial Reporting Standard applScable In the UK and Republlc of Ireland IFRS 1021" Under that law the trustees must not approve the financlal statements unless they are satlsfled that they81ve a true and falrvlew of the state of the affalrs of the charityand of the statement of flnanclal actlvltles of the charlty for that perlod. In preparlng these flnanclal statements, the trustees are requlred to.. select sultable accountlng pollcles and then apply them conslstently make judgments and estlmates that are asonable and prudent state whether the flnancSal statements have been prepared In accordance wlth applScable Accountln8 Standards and Identlfy the standards In questlon, subject to any materlal departures beln8 dlsclosed and explained In the financial statements and prepare the flnanclal statements on the golng concern basls unless Itls Inapproprlate to presume that the Parlsh wlll continue as a goln8 concern. The trustees are responslble for keeping accounting records that are sufflcient to show and explaln the Parlsh's transactlons and dlsclose wlth reasonable accuracy at any tlme the flnanclal posltlon of the Parlsh and enable them to ensure that the flnanclal statements comply wlth the Charltles Act INorthern Irelandl 2008, the Chorlty (Accounts and Reports) Regulation5 (Northern Irelandl 2c8 and the provSsion of the Constltutlon of the Church of Ireland. They are also responslble for safeguardin8 the assets of the Parish and hence for taking reo50nable step5 for the preventlon and detectlon of fraud and other Irregularltles. St•temeDt as to dlsclosure to our •xamln•rs In $0 far as the trustees are aware at the timln8 of approving our trustees, annual report.. there is no relevant information of which the charitable company's examiner Is unaware and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the company's examlner is aware of that information. Independent Ex•mlner The examiner, Wylie Ruddell Chartered Accountants. has Indlcated thelr wllllngness to contlnue In offlce, and a resolutlon concernlng thelr reappoSntment w511 be proposed at the next Annual Easter Vestry Meetlng. OnBe If of the Trustee5 Trustee I: Pe er unce Trustee 2 - Jonathan Hull Date.. 12 Ortober 2025
Independent Examlners Report to the Trustees of MarkÈthllllMull•br•¢k, 5t John5. Amiagh, Church of Ireland We report on the accounts of Markethlll/Mullabrack, St Johns, Armagh, Church of Ireland for the year ended 31 December 2024, which are set out on pages 8 to 19. Respe¢tl¥e responslbllltles of Chartty Trustees and examlner As the charity's Trustees you are responsible for the preparation of the accounts in accordance with the Charitles Act INorthern Ireland) 2008. It Is our responslblllty to.. Examlne the accounts under sectlon 65 of the Charltles Act. Follow the procedures lald down in the general Dlrectlons 8lven by the Commlsslon under section 6519llbl of the Charities Act. State whether partlcular matter5 have come to our attentlon. Basls of Independent examlne¢s report We have examlned your charlty accounts as requlred under sectlon 65 of the Charltles Act and our examlnatlon was carrled out In accordance wlth the general Dlrections given by the Charity Commission for Northern Ireland under sectlon 6519llbl of the Charlties Act, Our examlnat5on Included a revlew of the accountlng records kept by the charlty and a comparlson of the accounts presented wlth those records. It also Included conslderatlon of any unusual Items or dlsclosures In the accounts, and seeklng explanatlons from you as charlty Trustees concernln8 any such matters. Our role Is to state whether any materlal matters have Come to our attentlon 8lvlng us cause to belleve.. That accountln8 records were not kept In accordance wlth sectlon 63 of the Chorltles Act. That the accounts do not accord with those accounting records. That the accounts do not comply wlth the accounting requlrements of the Charltles Act. That there Is further InformatSon needed for a proper understandlng of the accounts to be reached. Independent examlnerfs statement We have completed our examlnatlon and have no concerns in Spect of the matters 111 to 141115ted above and. In connectlon wlth followlng the Dlrectlons of the Charlty Commlsslon for Northern Ireland. we have found no matters that requlre drawlng to your attentlon. D Ruddell For •nd on beh&ll of Wylle Ruddell Chartered Accountants Unlt 63 Armagh Buslness Centre 2 Lough8all Road Armagh BT617NH Date.. 12 Ortober 2025
MarkethllllMullabr4¢k, St Johns, Armagh, Church of Ireland Statement of Flnanclal ArtS¥ltSes for the year ended 31 December 2024 Unrestr Restrlrt Fund5 Funds 2024 2024 Endowment Funds 2024 Total 2024 Total 2023 Note In Donatlons & legacies Other tradlng actlvltles Investments Charltable actlvltles Other income 141,344 3,840 16,823 97,186 141,344 3,840 16,823 97,186 123,880 4,306 11,668 5,419 259,193 259,193 145,273 Generating funds Charitable actlvlties Other 1140,7471 1140,7471 1126,2581 1140,7471 1140,7471 1126,2581 Net IncomellExpendlturel before transfers 118,446 118,446 19,015 Transfers between funds Net In¢omellExpendlturel before other re(lSed ialns and losses 118,446 118,446 19,015 Galn/lLossl on Investments assets Depreciation li iio,0001 lio,0} iio,oooi N•t mo¥ement In lunds 118,446 iio.oty)I 108,446 9,015 Rttonclllatlon of funds: Total fvnds brou8ht forward 182,236 300,682 1,290,000 1,280.000 367,416 367,416 1,839,652 1,830,637 1,948,098 3.1
Markethllllmullabrack, St Johns, Armagh, Church of Ireland Staternent of Flnanci•l Posltion Is at 31 December 2024 Charlty Number: NIC 104086 Note 2024 2023 Flxed Assets Tangible Flxed Assets Investment Properties Investments Total flxed 4ssets li 12 13 1,280,(KIO 155,000 265,924 1,700.924 1,290,C>OO 155,000 265,924 1,710,924 Current Assets Debtors Cash and cash equlvalents Total current a55et5 14 247,174 247,174 128,728 128.728 Credltors- amounts f•llSn8 due wlthln one ye•r At¢ruals and other creditors 8ank Loan5 Total crlt0$ 15 15 Net Current Assets 247,174 128,728 Total net Asset$ 1,948,098 1,839,652 The funds of the p•rlsh Unr•strSctèd fvnd$ General funds De51gnated funds Total unrestrlrted funds Restrlcted Funds Endowment Funds 17&18 145,682 155,000 300,682 1,280,CK)O 367,416 27,236 155,000 182,236 1,290,OfJ) 367,416 17&18 17&18 Tot•1 tharlty fvnds 17&18 1.948,098 1,839,652 The notes on pè8e5 11 to 19 are an Integral part of these flnonclal ststements. The flnanclal statements on pages 8 to 10 were approved by the Board of Trustees on 12 October 2025 and s18ned on Its behalf by: Trustee l.. Peter M nc Trustee 2.. Jonathan Hull
MarkethSlllMullabra¢k, St Johns, Armagh, Church of Ireland Statement of Cash Flows for the year ended 31 Docember 2024 Totsl lunds 2024 Total funds 2023 Cash flows from operatln8 actlvltles: Net cosh provlded by lused Inj operorfnq ortlvltles 20 101,623 7,347 Cash flows from Investln8 artlvltles: Dlvldends, interest and rents from Investments Proceeds from the sale of property, plant and equSpment Purchase of property, plant and equlpment Proceeds from sale of Investments Purchase of Investments 16.823 11,668 Net cash pmvlded by (used Inj Investlftq ortlvftles 16,823 11,668 Cash flows from fimnclng actlvltles: Repayments of borrowln8 Cash Inflows from new borrowln8 Recelpt ofendowment Net cash provlded by (used In)flnon¢lng ortlwltles Change In cash oftd cash equIleftts In the portIng perlod Cash •nd cash equlvalent$ at the be8lnnlng of the reportln8 perlod Chan80 In ¢•sh •nd ¢•$h equl¥•lent$ du• to •xth•n8• rlte movem•nts Cash ond Cash equlvolents at the end oAthe reportlng perlod 118.446 128,728 19,015 109,713 21 247,174 128,728 10
Markethllllmullabrack, St Johns, Armagh, Church of Ireland Notes to the finandal statements fw the year ended 31 December 1024 l. Accountln8 pollcles The principal accounting policies adopted, Judgements and key sources of estimation uncertainty In the preparation of the financial statements are as follows.. 41 Basls of preparatlon The flnanclal statements have been prepared on a going concern bas15 In accordance wlth Accountlng and Reportln8 by Charities.. Statement of Recommended Practlce appllcable to charities preparing their accounts in accordance with the Flnanclal Reportln8 Standafd applicable in the UK and Republic of Ireland IFRS 1021 Icharltles SORP IFRS 10211. The Parlsh meets the deflnltlon of a publlt benefit entity under FRS 102. Assets and Ilabllltles are Inltlally reco8nlsed at historlcal cost and transaction value unless otherwise stated in the relevant accountln8 pollcy notelsl. bl Prep•ratSon ol •¢¢ounts on • golng concern basls The Parlsh generally meets Its day to day working Capital requlrements from Its annual Income. The Trustees have obtalned and revlewed cash flow forecasts for the comlng year and based on these are satlsfied that the Parlsh has resources to provlde a reasonable expectatlon that It can contlnue to meet It5 financlal obligatSons as they fall due for the foreseeable future. Therefore these flnanclal statements have been prepared on a 8oln8 concern basls, c} Incom• Plate Collettlons, Weekly Envelopes and Graveyard Income are accounted for on a cash recelpts basls as the amount Is collected. Income arlsln8 from the rental of Parlsh Centre facllltles to thlrd partles Is reco8nlsed when the parlsh has entltlernent to the funds, any performance conditlons attached to the Income have been met, It Is probable that the Income wlll be recelved and the amount can be measured rellably. Income from government and other grants, whether 'capltal' grants or 'revenup' 8rants, are recognlsed when the charlty has entltlement to the funds, any performance condltlons attached to the grants have been met, It 15 probable that the Income wlll be re¢elved and the amount can be measured reliably and Is not deferred. Legacles are Included wlthln Sncome under elther unrestrlcted or restrlcted funds accordlng to the terms under whlch the donatlon Is made and when the amount can be quantifled wlth reasonable certalnty. Donatlons and 81fts In klnd are brought into the accounts at theSr falr value to the Parlsh. d) Expendltur• Expendlture Is reco8nised once there Is a legal or constructlve obllgatlon to make a payment to a thlrd party. It is probable that settlement will be requSred and the amount of the obllgatSon can be measured reliablv. Irrecoverable VATIS charged as a cost agalnst the actlvlty for whlch the expendlture was Incurred,
Markethlll/MullabracK St Johns, Arrnagh, Church of Ireland Notes to the flnanclal statements for the year ended 31 December 2024 l. A¢¢ountlng pollcles Icontlnued) el Tanglble assets The assets of the Parish compri5e'. - Church Bulldln8s x 2 and Graveyard Parlsh Centre Glebe House Residential Investment property Fixtures and ffttlngs The Church 8ulldSngs and Graveyard are deemed to be Herlta8e assets as defined by the Charltles SORP IFRS1021 These Herlta8e assets are not included on the balance sheet as informatlon on the cost or valuatlon is not available and such Informatlon cannot be obtalned at a cost commensurate wlth the benefit to the users of the accounts and to the parlsh. The Parlsh Centre Is reco8nlsed at cost of constructlon l acqulsltlon. No depreclatlon has been Provided on the parlsh centre bulldln8S as the current estlmated resldual value Is not less than Its carryln8 value and the remalnlng useful Ilfe currently exceeds 50 years. The Glebe House Is reco8nlsed at cost I deemed cost, belng the estlmated falr value of the property at 31 December 2024. No depreciation has been provlded on The Glebe House as the current e5tlmated resldual value Is not less than Its carryln8 value and the remalnlng useful Ilfe currently exceeds 50 years. A resldentlal Investment property was purchased In 2019 at a cost of £155,000. No depreclatlon has been provlded on the house as the current estlmated resldual value Is not less than Its carrylng value and the remalnln8 Useful life currently exceeds SO years Flxtures and Flttln85 are recognlsed at cost and are depreclated on a stralght Ilne basls over a perlod of 10 years. The assets. residual values and useful lives are reviewed, and adjusted, If appropriate, at the end of each reporting perlod. The effect of any change Is accounted for prospectlvely. Tanglble assets are dereco8nlsed on dlsp05al or when no future economlc beneflts are expected. On dlsposal, the dlfference between the new dlsposal proceeds and the carryln8 amount Is reco8nlsed In the statement of flnanclal actlvlties and Included in 'Other operatlng11055esl/galn5'. n Investments Flxed asset Investments comprlslng Investment propertles. Investments In equltles and Investment In RCB/CIT Unlt Trusts are Inltially COrded at C05t and are then subsequently stated at falr value at each balance sheet date. Investments in unquoted Investments are corded at cost and are assessed annually for Impalrment. Unrealised galns and 105ses present the difference between the falr value at the beglnnSng and end of the financlal year or, if purchased in the year. the dlfference between cost and fair value at the end of the year. Reallsed gains and 105se5 represent the dlfference between the proceeds on disposal and the falr value at the start of the year or c05t if purchased in the year. Both reallsed and unrealised gains and losses in investments are reported within 'Net GainsllL055esl on Investments" within the Statement of Financlal Actlvities. 81 Cash and cash equlv4lents Cash and cash equlvalents Includes cash In hand. deposSts held at call wlth banks, other short-term hlghly Ilquld investments wlth orSginal maturltSes of the months or less and bank overdrafts. Bank overdrafts are shown wlthln Credltors Amounts falllng due wSthln I year. 12
MarkethllllMullabra¢k, St Johns, Armagh, Church of Ireland Notes to the flnanclal statements for the year ended 31 Deornber 2024 (contlnued) l. A¢¢ountln8 pollcles lcontlnued) h) Flnanclal Instruments The Parish only has financial assets and firsancial liabilities of a kind that qualify as basic financial instruments. Baslc f Inanclal Instruments are Initially recognised at transaction price and subsequently measured at their settlement value. l) Funds Funds ore classified as either restricted funds or unrestricted funds, deflned as follows. Restricted funds are funds sublect to speclflc requlrements as to thelr use whlch may be declared by the donor or with their authority or created through legal processes, but st511 within the wlder oblects of the Parlsh. Endowment funds are funds whlch are held generally on the basls that the orlglnal capltal sum Is not reduced. and the Income there from is used for the purpose deflned In accordance with the oblects of the Parlsh. However, the capltal sum may 5tlll be used at the dlscretlon of the Select Vestry. Unrestrlcted funds are expendable at the dSscretlon of the trustees Sn furtherance of the oblerts of the charity. If parts of the unrestrlrted funds are earmarked at the dlscretlon of the trustees for a partScular purpose, they are desl8nated as a separate fund. Thbs designation has an administrative purpose only and does not legally restrlct the trustees, discretion to apply the fund, CrltSul •¢¢ount1Jud8emefits •nd estlmatlon uncert•lnty Estlmates and ludgments made In the process of preparlng the flnanclal statements are contlnually evaluated and are based on hi5toricol experlence and other factors, Includlng expectatlons of future events that are believed to be reasonable under the clrcumstances. The Trustees do not conslder that there are any crltlcal lud8ments made In applylng the Parish's accountbng pollcies or that there are any critical accounting estimates or assumptions which may have a sl8nlflcant rlsk of causin8 a materlal adjustment to carrylng amounts of assets and Ilabllltles wlthin the next finan¢lal year. 3. Donatlons and le8a¢les Unrestrlrted Funds 2024 Restrlcted Funds 2024 Endowment Funds 2014 Total 2024 Total 2023 Plate Collectlons Weekly envelopes l FWO Tax (OVered on Donatlons Legacles Endowment Income Speclal Appeals Grants Other 97,629 21,294 97,629 21,294 95,294 19,332 1.350 2,019 1,967 3,700 218 123,880 6,612 12,060 3,749 141,344 6,612 12,060 3.749 141,344 13
Markethllllmullabrack, St Johns, Armagh, Church of Ireland Note5 to the flnanclal statements for the year ended 31 December 2024 Icontlnued) 4. Other tradlng actlvltles Unrestrlcted Funds 2024 Restrlrted Funds 2024 Endowment Funds 2024 Total 2024 Total 2023 Rentals from Parish Centre 3,840 3,840 3,840 3.840 4,306 4.306 Investments Oeposlt Interest Dlvidends recelved Rental Income- Investment Propertle5 9,859 9,859 7,449 6,964 16,823 6,964 16,823 4.219 11,668 6. Charltable actlvltles Graveyard Income Other In¢ome Speclal Fund Ralslng 4,590 5,065 87.531 97.186 4,590 5,065 87,531 97,186 2,425 2,994 5,419 Totll Income 259,193 259,193 145,273 7. Amlysls of Expendlture Unrestrlrt•d Funds 2024 RestrS¢ted Funds 2024 Endowment Funds 2024 Total 2024 Total 2023 Gener•tln8 Funds Investment Mana8er's Fees Fundralsln8 Costs Other Ch•rltsble Artlvltles Wage5 and Salarles Dlocesan Costs/Assessment Church Runnlng Costs Glebe Costs Charitable Donatlons Other 60,578 45,060 8,695 13,458 12,956 140,747 60,578 45,060 8,695 13,458 12,956 140,747 57,411 59,096 2,096 7,655 126,258 Tot•1 Exper¥dlture 140,747 140,747 126,258 Governance costs of £960 were incurred during the year of which £960 relates to fees pald to the independent examiner. Governance costs would be included wlthln Church Running Costs above. 14
Markethlll/Mullabrack, St Johns, Arma8h, Church of Ireland Notes to the Ilnanc5al ststements for the yeor ended 310e¢ember 2024 (contlnuedl G•ln/lLossl on Investment Assets 2024 2023 Unrealised falr value gainslllossesl on Investments Unreali5ed fair value gains1llosses1 on investment properties RealSsed galns I Ilossesl on Investments Realised 8ainslllossesl on Investment propertles T•¥Jtlon Markethlll/Mullabrack, St Johns, Armagh, Church of Ireland Is reco8nlsed as a charlty for the purpose5 of appllcable taxatlon leglslatlon and Is therefore not 5ublert to taxatlon on Its chorltable actlvltles. 10. An•tysls of st•ff costs, trustee remuneratlon and expenses, and the cost of key rn•n•8ement personnel Employees 2024 2023 Salarles and wages Natlonal Insurance costs Total The avera8e number of employees durlng the year, calculated on the basls of a head count, was as follows: 2024 Number 2023 Number Mlnlsterlal support Adminlstratlon Muslc staff Premlses maintenance There are no employees In recelpt of employee beneflts In ex¢e5s of £60,000 Key Management and Trustees The parlsh pald expenses of £2,279 relatSng to the runnln8 Costs of The Glebe House whlch Is occupled by the rector. No Trustee received any remuneratlon or reimbursement of expenses during the year in respect of their role as trustee. No Trustee recelved payment for other professlonal work done for the charlty. No trustee or a person related to a trustee had any personal Interest In any contract or transaction entered Into by the charlty during the year. 15
Markethllllmullabrack, St Johns, Arma8h, Church of Ireland Notes to the flnancl41 st•tÈmÈnts for the year èndÈd 31 Decembèr 2024 Itontlnued) 11. Tanglble flxed assets Flxtures & FFttln8s Bulldlng5 Total Cost At beginnlng of the year Addltions Disposals At end of the year 1,250.OCN) loo.000 1.350,000 1,250,OIXI 100,000 1,350,000 Depreclatlon At beglnnlng of the year Depreciation DIsposa15 At end of the year 60,000 10,000 60,000 10,000 70,OCN) 70,000 Net book value at beglnnlng of the year Net book value at end of the year 1,250,000 1,250,0 40,000 30,0 1,290,CNJO 1,280,000 12. Investment Propertle5 Balance at Beglnnlng of the year Addltlons durlng the year Dlsposa15 durlng the year Falr Value Galns / (Losses) Balance at end of the year 155,CNJO 155,000 The year-end valuatlon of the Investment propertles has been based on the purchase prlce In 2019. 13. Investments Llsted Investments Oth•r Investments Total Balance at beginning of the year Additions during the year Olsposals durSng the year Falr Value 8alnllloss1 on Investments Balance at end of the year 265,924 265,924 265,924 265,924 Analysls of Investrnents Equlty Investments Other Listed Investments Investments in RB Unlt Trust5 Other unllsted Investments 265,924 265.924 265.924 265,924 16
MarkethllllMull4bra¢k. St Johns, Armagh, chUh of Ireland Notes to the flnanclal statements for the year ended 31 December 2024 {contlnuedl 14. Debtors 1024 2023 Sundry debtors Other Idetsil where materiall 15. Credltors Amounts Due wlthln l Ye•r 2024 2023 Accruals and other credltors Taxation and Social Security Bank Overdrafts 16. Fln•n¢l•l Instruments The charlty has the followlng financlal In5trumentS'. 2024 2023 Lo•ns Ind recel¥•bles held It amortlsed cost Investments Cash and cash equlvalents Sundry debtors Other welvables Investment In short term deposlts Fln•ncl•l Il•bllStles me•sured It •mortlsed cost Bank loans and overdrafts Accruals and other credltors 17. An•ly$15 of Net Assets Among Funds Gener•1 Deslgn•ted Restrlcted Endowment Total Flxed Assets Investments Current Assets Current Liablllties Net assets at 31 Dec 2024 1,280,000 1,280,000 420,924 247,174 155,fJ)O 265,924 101,492 145,682 145,682 155,000 1,280,000 367,416 1,948,098 17
Markethllllmullabrack, St Johns, Arrnagh. Church of Ireland Notes to the flnanclal statements for the year ended 31 December 2024 l¢ontlnued) 18. Funds of the Parlsh Atljan 2024 At 31 Dec 2024 Incorne Expendlture Transfers Endowment funds General 367,416 367,416 367,416 367.416 Restrlrted funds Parlsh Cent Glebe House Fl¥tures & Flttln8S 950,000 300,000 40,000 1.290,000 950,000 300,000 30,OCN) 1,280,0 iio,0001 iio,o(h)I Unrestr1rt fvnds Deslgnated- Investment Property General 155,000 27,236 182,236 155,000 145,682 300,682 259,193 259,193 1140,7471 1140,7471 Total funds 1,839.652 259,193 1140,7471 iio,0001 1.948,098 19. Collertlon for Thlrd Partles 2024 2023 LEMOOS Nl Hosplce Charlene's Project Dlocesan Mlnlstry Tralnln8 Fund Abaana Cholr Concert Samarltan's Purse & 8arnabas Fund Crossllnks SAMS Irish Church Mi55lons Leprosy Mlsslon Flre Lily Upendo Orphanage Blshops Appeal 322 1,855 221 325 loo 149 1.048 371 192 241 248 59 179 240 514 153 475 1,581 86 6,602 1,757 The amounts above have been Included In total Income for the year and In total expendrture for the year. 18
MarkethllllMullabra¢k, St Johns, Arma8h, Church of Ireland Notes to the flnantlal statements lor the ye•r ended 31 De¢ember 2024 {contlnuedl 20. Re¢on¢lllatlon of net Incomellexpendlturel to cash Ilow from op•ratln8 actlvltles 2024 2023 Net In¢om•ll•xpendlturel for the reportln8 perfod las per the statement of flnanclal ¥ctlvltlesl Adlustments for: Depreciation charges Dlvldends, Interest and rent from Investments Lossllprofltl on the sale of fixed assets Ilncreaselldecrease in debtors Increaselldecreasel In creditor5 Roundlng dSfference Net Ush provlded by (US Inl op•r•t5n8 attlvltles 108,446 9.015 10,000 116,8231 10,000 111,6681 101,623 7,347 21. Analysls of cash and tash equlvalents 2024 2023 8ank Current Account Notlce deposlts Overdraft faclllty repayable on demand Tot•1 cash •nd c•sh •qul¥•l•nts 217,203 29,971 98,757 29,971 247,174 128,728 19