Receipts and Payments Account for the year ended 31 December 2023
| Unrestricted Funds 2023 £ Restricted Funds 2023 £ Receipts Donations and Plate Collections 34,140 Investment Income 1,216 Total Receipts 35,346 Payments Charitable Activities 26,166 Other Costs Total Expenses 26,166 Surplus of Receipts over Payments for the year before transfers 9,180 Statement of Assets and Liabilities as at 31 December 2023 Unrestricted Funds 2023 £ Restricted Funds 2023 £ Cash Funds Current Account 10,092 Deposit Account 75,756 Total Cash Funds 85,848 Unrestricted Funds 2023 £ Restricted Funds 2023 £ Investment Funds Investments in RCB / CIT unit Trusts 1,216 Total Investment Assets 1,216 |
Endowment Funds 2023 £ Endowment Funds 2023 £ Endowment Funds 2023 £ |
Total 2023 £ 34,140 1,216 35,346 26,166 26,166 9,180 Total 2023 £ 10,092 75,756 85,848 Total 2023 £ 1,216 1,216 |
Total 2022 £ 26,839 550 27,389 21,398 21,398 5,991 |
|---|---|---|---|
| Total 2022 £ 11,569 65,089 76,658 Total 2022 £ 550 550 |
Assets retained for the Parish’s own use
The Church Building and grounds and Fixtures and Fittings are all held at heritage book value.
Notes to the Financial Statements for the Year Ended 31 December 2023
1. Accounting Policies
Set out below are the principle accounting policies which have been adopted in the compilation of the Receipts and Payments Account and the Statement of Assets and Liabilities.
(a) Receipts and Payments Account
All items of income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basis.
Voluntary income is received by way of donation’s and gift’s and is included in full in the Statement of Financial Activities when receivable. The value of services provided by volunteers’ has not been included.
The Parish generally meets its day to day working capital requirements from its annual income. The Trustees have obtained and reviewed cash flow forecasts for the coming year and based on these are satisfied that the Parish has resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the coming year. Therefore, these financial statements have been prepared on a going concern basis.
(b) Assets retained for the Parish’s own use
The Assets of the Parish, retained for its own use:
i Church Building and Graveyard ii Fixtures and Fittings iii Shared Rectory
The Church Building and Graveyard deemed to be Heritage Assets as defined by the Charities SORP (FRS 102).
These Heritage Assets are not included in the Statement of Assets and Liabilities as information on the 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.
Fixtures and Fittings are deemed to be Heritage assets as defined by the Charities SORP (FRS 102). These fixtures and fittings are artefacts contained within the Church Building and their Preservation and contribution to culture are ancillary to faith and other purposes. Heritage assets are not included in the Statement of Assets and Liabilities as information cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the Parish.
The Rectory usage is shared between the Parishes of Keady, Derrynoose, Armaghbreague and Newtownhamilton. Keady Parish maintain ownership of this property and as a result this building is not recognised in the Parish Statement of Assets and Liabilities.
2. Reconciliation of Cash Funds
| Total Cash Funds at the Beginning of the Year Receipts for the Year Payments for the Year Total Cash Funds at the end of the Year |
£ 76,658 35,356 (26,166) 85,848 |
|---|---|
3. Donations
| Subscriptions Graveyard Fees Ash Wednesday Turkey Earthquake appeal Gift Day Donation from WLOL No. 98 Donations in Lieu of Flowers Hospice Sunday Collection Government Energy Support Grant Sunday School Boxes Bus for Church Outing Adverts for Coffee Morning and Quiz RCB Bank Interest Harvest Service Collection Confirmation Service Collection Rector in a tractor collection Total Donations |
Unrestricted Funds 2023 £ 30,026 800 15 159 925 50 375 70 1,200 200 70 140 1,115 101 110 35,356 |
Restricted Funds 2023 £ |
Endowment Funds 2023 £ |
Total 2023 £ 30,026 800 15 159 925 50 375 70 1,200 200 70 140 1,115 101 110 35,356 |
Total 2022 £ 25,261 50 - - 865 - 100 150 - - - - 537 13 98 235 80 27,389 |
|---|---|---|---|---|---|
4. Investments
| Bank Interest RCB Trust Income Total Investment Income |
Unrestricted Funds 2023 £ 101 1,115 1,216 |
Restricted Funds 2023 £ |
Endowment Funds 2023 £ |
Total 2023 £ 101 1,115 1,216 |
Total 2022 £ 13 537 550 |
|---|---|---|---|---|---|
5. Charitable Activities
| Diocesan Charges Church Running Costs Heat and Light Water Rates Insurance Grass Cutting Glebe Share of Rectory Costs Administration Costs Bus for Church Outing Bank Fees Envelopes for 2024 Adverts for Coffee Morning & Quiz Sunday School Expenses Ambassador Magazines Poppy Wreath Organist Christmas Cards Turkey Earthquake Appeal S Hawthorne – St Marks – Bible Harvest Preacher Expenses Printing Confirmation Service expenses Rector in a tractor Microphone Total Expenses |
Unrestricted Funds 2023 £ 15,969 4,008 372 1,700 450 2,282 210 113 140 140 143 34 50 200 139 159 23 34 26,166 |
Restricted Funds 2023 £ |
Endowment Funds 2023 £ |
Total 2023 £ 15,969 4,008 372 1,700 450 2,282 210 113 140 140 143 34 50 200 139 159 23 34 26,166 |
Total 2022 £ 13,201 2,739 179 1,570 450 1,712 - 94 136 - 146 68 175 30 102 500 80 216 21,398 |
|---|---|---|---|---|---|
6. Transactions with Trustees
£450 was paid to a trustee during the year for maintaining the grounds around the church and cutting the grass in the graveyard.
7. Governance Costs
Governance Costs of £0 were incurred during the year, of which £0 relates to fees paid to the independent examiner.