Drumcree Parish Church
Annual Report and Financial Statements
For the yearended 31 December 2023
Charities Number: NIC 104192

Drumcree Parish Church
Annual report and flnancial statementsfortheyearended 31 December 2023
Contents
Pages
References and admin1strative details of the Charity
Trustee5' Annual report
Independent Examiners Report to the Trustees
Statement of Financial actiVTties
Balance Sheet
io
Notes to the financial statements
11-18

DRUMCREE PARISH CHURCH
References and admlnistrattve details
Charity Name:
Drumcree Parish Church
Charity Registration Number..
NIC 104192
Contact Address-.
78 Drumcree Road
Portadown
CoArmagh
BT62 IPE
Trustees
Rev Gary Galway
MrA13n Milligan
MrGeoff Milligan
MrGareth Moles
Mr Edwin Mccambley
Mrs Shirley Nelson
Miss Valerie.Newell
Mr Alan Sergeant
Mr Keith Marshall
Mr Jonathan Ruddell
MrPhilipMcKinley
Mrs Julie Milligan
Mrs Ruth Tedford
MrGareth Galway
Mr John Gates
Mr George Murtagh
Mr Brian Ruddell
Mrs Laura Sergeant
Mrs Gillian Jackson
Ires 14th April 20241
lapp. 14th April 20241
Ires. 16th April 20231
lapp. 16th April 20231
Ires. 161h April 20231
Principal Office-bearers
Clergv:
Church Secretary..
Church Treasurer..
Church Warden- Clergy..
Church Warden - People=
Rev. Gary Galway
Mrs Ruth Tedford
Mr Brian Ruddell
Mr Pamela Forde lapp. 16th April 20231
Mr Gareth Moles
Independent Examiner
Arnold Jackson Chartered Accountant
McAleer Jackson Ltd, Chartered Accountants
Church House, 24 Dublin Road, Omagh, CoTyrone, BT78 IHE
Principal Bankers
Bank of Ireland
13 Market Street
Lurgan
BT66 6AR
Ulster Bank
20 High Street
Portadown
BT62 IHU
Progressive Bullding Society
12 Market Street
Portadown
BT62 3JY

Trustees, Annual Report for the year ended 31 December 2023
The Trustees present the annual report and accounts for Drumcree Parish Church for the year ended 3111212023.
Objectives and Attivities
The charitable purpose of the Church of Ireland is the advancement of religion.
The principal function of Drumcree Parish Church is to support the advancement of the Christian religion by promoting, through
the work of Drumcree Parish Church the whole mission of the Church, pastoral, evangelistic and social. Being open to and engaging
with society as a whole and offering support for those needing help are fundamental to the practical delivery of the benefits of
Christianity.
As a result of activity in the pursuit of the advancement of the Christian religion. Drumcree Parish Church has custody of property
and of records, rnaterials and artefacts of significance to the cultural and religious heritage and rnaintenance of which 15
undertaken by the Select Vestry of Drumcree Parish Church.
Achievements, Performance & Public Benefrt
We are currently using the Church Hall as our Church due to the church building not being fit for purpose at the present time.
This has been difficult as our Church Hall is used regularly throughout the week. It ha5 been a huge commitment for those having
to set up and take down all the equipment every week.
We would hope to be moved back into the church within the coming year.
The church continues to invest in technology so as to allow its services to benefit those who are house bound, in nursing homes or
who simply could not be there in person and it also affords them an opportunity to watch the service at a time which is convenient
for them. This is proving to be a great opportunity to reach people with the Gospel and we give thanks to God that people around
the world can be with us on Sunday morning. We have a150 installed technology equipment in the Church Hall, which will be
available for all organ158tions.
The church is also investing heavily in upgrading its premises and has put together a plan for a welcome area la social gathering
areal, this is at a significant cost. There are also plans to upgrade the church and bring it up to a standard of "fit for purpose" for
the times which we live and minister in. We are hoping by this time next year, the workwill have been completed and what a difference
it wi51 make for all who come together.
We have been greatly blessed during the year by our children's and youth ministries which continues to grow. It has also been
entouraging to see new people joining us f rom all walk5 of life, and it is our hope and prayer that this will continue well into the
future. It was also such an encouragement to See the increased numbers attending our annual fete once again, what a success it
has become both in financial terms and a witne55 to the entire community.
There is no doubt we live in challenging times and we continue to reach out to those both within and outside the Parish. We have
provided f inancial help and assistance where required and helped with practical issues. We see this as an opportunity to reach
out with the love of Christ to those for whom Christ died. As a Christian organisation we have been called to serve and may we
continue to do that through love no matter what we face the days that lie ahead.
In all the challenges that we as a church face, it 15 wonderful to know that we have a God who continues to look after our needs,
provides in such a way that only He can do and to have people within the church who give in such a Godly way. We thank God
first for His provision and all those who carry His heart within them. May we all continue to be a blessing to others, whatever
background they may come from.

Trustees, Annual Report for the year ended 31 December2023 (continued)
Under Chapter 12 of the Constitution of the Church of Ireland, Safeguarding Trust is implemented and adhered to by Drumcree
Parish Church in order to protect young people, leaders and vulnerable adults.
Access to Church records is provided to any member of the public requiring information for research and genealogical purposes.
This access is provided free of charge. The Parish maintains artefacts, materials and historic building for the benefit of the public
and in particular for those appreciative of longstanding Chr15tian heritage. The Parish restricts access to Church properties for
public safety reasons. Any visitors who wish to access same for viewing purposes are accompanied by a member of staff.
The Parish has 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 wèll as providing
public benefit.
Financial Review
The income in the Parish from various sources was £150,090, with outgoings of £156,2131 giving a105s of £6,123 before unrealised
gain in value of RCB investments of £461. The overall loss was £5,662.
The Trustees are deeply grateful to the Parish for their f inancial support during 2023.
The Bank and Cash in Hand Balance as at 31 December 2023 was £387,259 lof this balance £131,063 were unrestricted funds). 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 ground and to further the Objectives and Activities of the Church of Ireland.
Going Concem
The Trustees have reviewed Drumcree Parish Church's planned expenditure 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 2023
can be signed off as a golng concern.
Strurture, Governance and Management
Governing Document and Constitution of the Charity
Chapter111 of the Constitution of the Church of Ireland governs Parishes and Parochial Organisations. The Select Vestry members
are the Charity Trustees.
Recruitment and Appointment of Selert Vestry (Tru5teesJ
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 and have paid a minimum of £50.00 per annum
into the Sustentation account, may register as members of the General Vestry of the Parish, allowing them to attend and vote at
meetings of the General Vestry and to 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.

Trustees, Annual Report for the year ended 31 December 2023 (continued)
Organisationol Structure
The Select Vestry is responsible for the day-to-day management of the Parish. The Select Vestry consists of the member of the
clergy serving in the Parish, 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 chaired by the incumbent off iciating in the Parish. Select Vestry members are responsible for making decisions
on matters of general concern and importance to the Parish including deciding how Parish funds are to be applied.
The Select Vestry meets at times fixed by the member5 or by the diocesan synod. Special meetings may be convened at any time
by the chairperson or the churchwardens. In 2023 the Select Vestry met 16 times during the year and the average attendance was
75%.
Statement of Trustees, ResponsibilÉties
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicabSe law
and regulations.
The law applicable to charities in Northern Ireland requires the Trustees to prepare financial statements for each financial year.
Under that law the Trustees have prepared the financial statements in accordance with Generally Accepted Accounting Practlce
in the United Kingdom (accounting standards issued by the Financial Reporting Council in the UK, including Charities SORP IFRS
1021 "Accounting and Reporting by Charities.. Statement of Recommended Pr3Ctice applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the U K and RepLJblic of Ireland IFR51021" and promulgated by
the Institute of Chartered Accountants in the United Kingdom and United Kingdom Lawl Under that law the Trustees must not
approve the f inancial statements unless they are satisfied that they give a true and fair view of the state of the affair5 of the charity
and of the statement of flnancial activities of the charity for that period.
In preparing these financial statements, the Trustee5 are required to:
Select suitable accouriting policies and then apply them consistently
Make judgments 3nd estimates that are reasonable and prudent
State whether the financi81 statements have been prepared in accordance with applicable Accounting Standards and
identify the standards in question, subject to any material departures being disclosed and explained in the f inancial
statements and
Prepare the financial statements on the going concern basis unles5 It is inappropriate to presume that the Parish will
continue as a going concern.
The Trustees are responsible for keeping accounting records that are sufficient to show and explain the Parlsh's transactions and
disclose with reasonable accuracy at any time the financial position of the Parish and enable them to ensure that the financial
statements comply with the Charities Act (Northern Ireland) 2008, the Charity (Accounts and Reports) Regulations INorthern
Ireland) 2008 and the provision of the Constitution of the Church of Ireland. They are also responsible for safeguarding the asset5
of the Parish and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Trustees, Annual Report for the year ended 31 December 2023 (continued)
Statement as to disclosure to our examiners
In so far as the Trustees are aware at the timing o* approving our Trustees, annual report=
There is no relevant audit 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 audit
information and to establish that the company's examiner is aware of that information
Independent Examiner
The examiner, Arnold Jackson of McAleer Jackson Ltd, has indicated his willingness to continue in office, and a resolution
concerning his reappointment was passed at the Select Vestry Meeting following the Annual Easter Vestry Meeting.
Slgned on Behalf of the Trustees
Trustee I
Trustee 2
Dats 31 October 2024

Independent examiner's report to the Charity Trustees of Drumcree Parish Church
I report on the accounts of the Charity for the year ended 31 December 2023, which are set out on pages 4 to 18.
Respertive responsibilities of charity Trustees and examiner
As the charIt￿S Trustees you are responsible for the preparation of the accounts in accordance with the Charities Act INorthern
Ireland) 2008.
It is my responsibility to..
examine the accounts under section 65 of the Charities Act,.
follow the procedures laid down in the general Directions given by the Commission under settion 6519llbl of the Charities
Act;
state whether particular matters have come to my attention.
Basi5 of independent examinerfs report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in
accordance with the general Directions given by the Charity Commission for Northern Ireland under section 651911bl of the
Charities Act.
My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with
those records. It a150 included consideration of any unusual items or disclosures in the accounts, and seeking explanations f rom
you as charity Trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me eause to believe:
l. That accounting records were not kept in accordance with section 63 of the Charities Act-
2. That the accounts do not accord with those accounting records,.
3. That the accounts do not comply with the accounting requirements of the Charities Act;
4. That there is f urther information needed for a proper understanding of the accounts to be reached.
Independent examinerfs ststement
I have completed my examination and have no concerns in respect of the matters111 to141 listed above and, in connection with
following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your
attention.
Name.. Arnoldjackson
Arnold Jack50n
For McAleer Jackson Ltd
Relevant professional qualification or body: Chartered Accountant
Address.. Church House, 24 Dublin Road, Omagh, Co.Tyrone, BT78 IHE
Date.. 31 October 2024

ststement of Financial Artivities for The Year Ended 310ecernber 2023
Unrestrirted
Funds 2023
Restrirted Endowment
Funds 2023 Funds 2023 Total 2023 Total 2022
Note
Income
Donations and Plate Collections
Proceed5 from Fund Raising
Events
Bank and Deposit Interest
Rentsl of p￿rniseS
Grants
Other Receipts
Total Income
78,246
2,114
80,360
119,019
12,994
77
12,994
4,426
33,901
1.200
17,209
150,090
14,239
1,617
21,327
3,200
17,636
177,038
2,758
1,591
33,901
1,200
17,2(
143,627
4,872
1,591
Expendlture
Wages and &laries
Diocesan Costslassessment
Church Running Costs
Administration Costs
Fundraising Costs
Charitable Donation5
Other Expenses
Depreciation
Total Expenditure
32,201
32,201
39,345
60,517
26,296
1,640
2,880
3.633
60,517
42,491
1,640
2,880
3,633
7,894
56,930
43,288
4,953
2,264
15,472
476
16,195
7.894
4,957
140,018
4,957
156,213
6,109
168,837
16,195
Net Income/lExpenditurel before transfers
3,609
111,3231
1,591
16,1231
8,201
Transfers between funds
11,840
110,2491
11,5911
Net Income/{Expenditurel
before other recognised
gains and lossès
Gain/llossl on investment
assets
15,449
121,5721
16.1231
8.201
12
461
461
11,1771
Net Movement of FurKIs
15,449
121,5721
461
15,6621
7,024
Reconciliation of funds:
Total Funds brought forward
2,526,982
181,971
110,966 2,819.919 2,812,895
Total Funds carried forward
2,542,431
160,399
111,427 2,814,257 2,819,919

ststement of Finantlal Position as at 31 Detember 2023
2023
2022
Fixed Assets
Tangible Fixed Assets
Investment Properties
io
1,175,971
1,242,709
1,153,892
1,242,709
li
Investment5
12
Totsl Fixed Assets
2 411770
Current Assets
Debtors- Gift Aid
12,610
15,324
Cash and Cash equivalents
Total Current Assets
387 259
410 937
399 869
426 261
Creditors- amounts falling due within one year
Total Credltors
13
Net Current Assets
408 149
Total Net Assets
2,814,257
2,819,919
The Funds of the Parish
Unrestricted Funds
Restricted Funds
2,542.431
160,399
111427
2,526,982
181,971
110 966
Endowment Funds
Total Charity Funds
14
2,814 257
2,819,919
The notes on pages 11 to 18 form an integral part of these financial statements and should be
read in conjunction therewith.
The financial statements on pages 9 to 10 were approved by the Board of Trustees on 31 Ortober2024
and signed on its behalf bv..
Trustee I
Trustee 2
io

Notes to the financial statementsforthe yearended 31 December2023
Acwunting policles
The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the
finan¢ial statements are as follows..
al Basls of preparation
The financial statements have been prepared on a going concern basis in accordance with Accounting and Reporting by
Charities.- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP IFRS 10211.
The Parish meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at
historical cost and transaction value unless otherwise stated in the relevant accounting policy notelsl.
b) Preparation of accounts on a going concern basls
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 foreseeable
future . Therefore these financial statements have been prepared on a going concern basis.
cl Income
Plate Collections, Weekly Envelopes, Graveyard income and Columbarium income are accounted for on a cash receipt5
basis as the amount is collerted.
Income arising from the rental of Parish Centre facilities to third parties is recognised when the parish has entitlement to
the funds, any performance conditions attached to the income have been met, it is probable that the income will be
received and the amount can be measured reliably.
Income from government and other grants, whether'capital, grants or'revenue, grants, is recognised when the charity has
entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income
will be received and the amount can be measured reliably and is not deferred.
Legacies are included within Income under either unrestricted or restricted funds according to the terms under which the
donation is made and when the amount can be quantif led with reasonable certainty. Donations and gifts in kind are
brought into the accounts at their fair value to the Parish.
dl Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make 3 payment to a third party, it is probable
that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as 3 Cost against the activity for which the expenditure was incurred.
el Tangible assets
The assets of the Parish comprise-.-
Church Building and Graveyard
Parish Church Hall
Glebe House
Fixtures and fittings
The Church Building, Church hall, Graveyard & Linkway are deemed to be Heritage assets as defined by the Charities SORP
IFRS1021.
These Heritage assets are not included on the balance sheet 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. However, subsequent additions are included on the balance sheet at cost. No depreciation is charged as the useful
life of the asset is more than 50 years.
li

Notes to the financial statements for the year ended 31 December 2023 (continued)
Accounting policies Icontinuedl
The Prayer Room (originally known as the 'Stables'l and the store at the church are physically attached to the Church
Graveyard and as such is not separable as an individual asset. As such it is deemed to be a Heritage asset and no value is
ascribed to it in the balance sheet 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.
Land acquired for Car Park at church is valued at acquisltion costs in 2017 along with costs of building car park. No
depreciation has been provided on this13nd or car park as the current estimated residual value is not less than its carrying
value and the remaining useful life currently exceeds 50 years.
The Rectory with yard and Sextons house are recognised at deemed c05t, being the estimated fair value of the property
placed on each property for rates purposes. The additions during the year consist of a new ensuite built on the premises.
No depreciation h3s been provided on these properties as the current estimated residual value of each is not le55than their
carrying value and the remaining usef ul life of each property currently exceeds 50 years.
Breagh Church Hall and Richmount Church Hall are all recognised at deemed cost, being the value placed on each of the
properties for Insurance purposes. No depreciation has been provided on these properties as the current estimated residual
value of each is not less than their carrying value and the remaining usef ul life of each property currently exceed5 50 years.
Fixtures and fittings are recognised at cost and are depreciated on a straight line basis over a period of 4 years. The church
has set a threshold of c05t of an item of £1,000 for it to be capitalised as a f ixed asset. The assets, residual values and useful
lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted
for pr05pectively.
Tangible assets are de-recognised on disposal or when no future economic benefits are expected. On disposal, the difference
between the new disposal proceeds and the carrying amount is recognised in the statement of financial activities and
included in 'Other operating Ilossesl/gains'.
fl Investments
Fixed asset investments comprising investment properties, investments in equities and investment in RCB/CIT Unit Trusts
are initially recorded at cost and are then SLJbsequently stated at fair value at each balance sheet date. Investments In
unquoted inve5trnents are recorded at C05t and are assessed annually for impairment. Unrealised gains and 1055e5
represent the difference between the fair value at the beginning and end of the financial year or, if purchased in the year,
the difference between cost and fair value at the end of the year. Realised gains and losses represent the difference
between the proceeds on disposal and the fair value at the start of the year or cost if purchased in the year. Both reali5ed
and unrealised gains and 10sse5 in investments are reported within 'Net Gains / (Losses) on Investments" within the
Statement of Financial Activitie5.
gl Cash and cash equivalents
Cash and c35h equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments
with original maturities of three months or les5 and bank overdraft5. Bank overdrafts are shown within Creditors Amounts
falling due within l year.
h) Financial instruments
The Parish only has financial a55ets and financia5 liabilities of a kind that qualify as basic f1nancial instruments. Basic financial
instrument5 are initially recognised at transaction price and subsequently measured at their settlement value.
il Funds
Funds are classified as either restricted funds or unrestricted funds, defined as follows.
Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their
authority or created through legal processes, but still within the wider objects of the Parish.
12

Notes to the financial statements for the year ended 31 December 2023 (tontinued)
Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the
income there from is used for the purpose defined in accordance with the objects of the Parish.
Unrestricted funds are expendable at the discretion of the Trustees in furtherance of the objects of the charity. If parts of
the unrestricted f unds are earmarked at the discretion of the Trustees for a particular purpose. they ère designated as a
separate fund. This designation has an administrative purpose only and does not legally restrict the Trustees, discretion to
apply the fund.
2. Critical Accounting Judgements and estimation uncertainty
Estimates and judgements made in the process of preparing the financial statements are continually evaluated and are
based on historical experience and otherfactors, including expectations of future events that are believed to be reasonable
under the circumstances. The Trustees do not consider that there are any critical judgements made in applying the Parish's
accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk of
causing a material adjustment to carrying amounts of assets and liabilities within the next financial year.
Unrestricted
Fund 2023
Restrirted
Funds 2023
Endowment
Funds 2023
Total 2023
Total 2022
Donation5 & Plate eollertions
Envelopes and Subs
Annual Subs
Gift Aid
56,507
1,730
12,609
2,114
58,621
1,730
12,609
3,427
3,716
257
76,314
460
Loose Collettion
Special Collections
Donations
17,996
1,298
10,560
12,391
3,427
3,716
257
78,246
2,114
80,360
119,019
Unrestricted
Fund 2023
Restrirted
Funds 2023
Endowment
Funds 2023
Totsl
2023
Total 2022
Proceeds from Fund ralsing
events
Fete
10,254
1,190
1,550
10,254
1,190
1,550
Gospel Concert
Richmount
12,809
1,430
12,994
12,994
14,239
13

Notes to the financial statements for the year ended 31 December 2023 (continued)
Unrestrirted Restrlrted Fund5
Fund 2023
2023
Endowment
Funds2023
Totsl 2023 Total 2022
Other Receipts
Graveyard
9,777
9,777
12,610
Sale of trailer
Miscellaneous
800
800
4,531
1,571
530
4,531
1571
530
5,026
Rates
Retirement gift
17,209
17,209
17,636
Unrestrlrted Restrirted Funds
Fund 2023
2023
Endowment
Funds 2023 Total 2023 Totsl 2022
Church Running Costs
Running costs
Utilities, rates, insurance
Maintenance
11,862
17,738
13.688
14,698
14,698
16,195
1,921
9,677
16,195
Minibus
Children'slyouth work
1,921
9,617
26,296
16,195
42,491
43,288
Unrestrirted Restrirted Funds Endowment
Fund 2023
2023 Funds 2023
Total 2023 Total 2022
Other expenses
Richmount Repairs
Bowling club expenses
Equipment
Professional & legal fees
Magazine
Miscellaneous
Retirement gift
555
555
659
659
4,049
4,049
165
2,531
ICKJ
2,531
ICK)
311
7,894
7,894
476
Governance costs of £912 were incurred durin8 the year which relate to fees paid to the independent examiner.
Governance costs are included within Administration costs on page 9.
14

Notes to the financial statements for the ye3rended 31 December 2023 {continued)
8 Taxation
Drumtree Parish Church is recognised as a charity for the purposes of applicable taxation legislation and
therefore. is not subject to taxation on its charitable activities.
9 Analysis of staff costs, Trustee remuneration and expenses, and the cost of key management personnel
Employees
Wages Analysis
2023
2022
Salaries and Wages
National Insurance
Pensions
31.652
34,492
3,478
1,375
549
32
The average number of employee5 during the year, calculated on the basis of head count was 3.
There are no employees in receipt of employee benefits in excess of £60,000.
Key Management and Trustees
Key Management are deemed to comprise the Trustees. The Parish pald expenses of £924 relating to rates on the
rectory which is occupied by the Rector.
Mrs Laura Sergeant is the daughter of Trustee Rev Gary Galway and herself 2 Trustee. She has been employed for a number of
years as a children's worker. Her pay is in line with the overall pay structure of the Church and there are clear procedures for
the management of any conflicts of interest that may arise. Her remuneration is included in the wages analysis in note 9 of
these accounts.
Mrs Julie Miligan a trustee is paid to clean the church and her expense is included within the maintenance cost.
NET
800K
VALUE
DEPN
AT
31.12.22 ADDITION D15POSAL CHARGE
NET
BOOK
VALUE
AT
31.12,23
10. Tangible Assets
DEPN TO
DATE
C05T
Land obtained at Church for car
park
255,498
312,858
35,000
iio,000
97,248
74,046
3,138
8,730
11,994
9,780
19,715
19.703
255,498
312,858
235,000
iio,000
97,248
74,046
Car park constructions costs
Rectory with yard
Sextons House
255,498
312,858
243,857
iio,000
97,248
74,046
6,857
Breagh Church Hall
Richmount Church Hall
Trailer
3.138
8,730
11,994
3,323
7,845
Digger
New Minibus
Shipping Container
AV Equipment
Graveyard Extension
Linkway Extension
Sports Pitch
Apple Laptop
Total Tangible Assets
6,457
11,870
19,703
13,212
18,000
1,614
2,968
4,843
8,902
19,703
29,892
18,0(X)
1,124
13,212
18,(X)O
16,680
1,499
375
1,188,922
35,030 1,153,892
27,036
4,957 1,175,971
15

Notes to the financial statements for the year ended 31 December 2023 (continued)
NET
BOOK
VALUE
AT
31.12.22 ADDMON DISPOSAL CHARGE
NET
BOOK
VALUE
AT
31.12.23
DEPN TO
DEPN
11. Investment Properties
COST
DATE
House at Dungannon Road
'Yhe Rockery, House with store
House at Derryanvil Road
Derrycorey site and land
Farmland 3t the Rectory
Farmland at Rockery and
Derryanvil Road
Farmland at 8reagh Hall
Derrycorey Church Hall
Derryall Churth Hall
Neill Propertv
130,(M)O
160,000
77,500
40,000
150,0(J)
130,000
160,000
77,500
40,000
150,000
130,IJ)O
160,000
77,500
40,000
150,000
410,000
9,000
54,026
24,683
187,500
410,(K)O
9,000
54.026
24,683
187,500
410,0(K)
9,000
54,026
24,683
187,500
1,242,709
1,242,709
1,242,709
12. Investments
VALUEAT GAIN IN VALUE AT
31.12.22
YEAR
31.12.23
RCB Investments
461
Total Investment Assets
461
13. Creditors Amounts Due within l year
2023
2022
Accruals and other creditors
19,730
192
17,331
781
PAYE
19,922
18,112
16

Notes to the flnancial statements for the year endÈd 31 December 2023 {continuedl
14. Funds of the Parish
At Oljan
Outgoing
Incoming Resources
2023 Resources
revenue
Investmen
At 31 Dec
2023
Transfer5 GainlLosS
Endowment Funds
McGivern Trust
GardinerTrust
RCB Investments
75,774
20.023
15,169
1,591
11,5911
75,774
20,023
15.630
461
110,966
1,591
11,5911
461
111,427
Restrirted Funds
Bank of Ireland Deposit
Ulster Bank Deposit
180,800
1,171
4,153
719
116,1951 110.2491
158,509
1,890
181,971
4,872
116,1951 110,2491
160,399
Unrestritted Funds
General Funds
2,526,982
143,627
1140,0181
11,840
2,542.431
Total Funds
2,819,919
150,090
1156,2131
461 2,814,257
Pur
oses of Endowment Funds-.-
McGivern Trust- interest earned on this money is to be transferred to the Repair account
Gardiner Trust- Interest earned on this money is to be transferred to the Repair account
RCB Inve5tments- These relate to various permanent endowments that the
Church has received that are invested with the Representative Church Body with
the income each year from such investments being paid to the Church for
general church purposes.
Pur
oses of Restritted Funds
Bank of Ireland Deposit and Ulster Bank deposit- used for repairs and
replacement of assets Sundry Restricted Funds- These relate to various sundrv
restricted funds
17

Notes to the financlal statements for the year ended 31 December 2023 (eontinuedl
15. Collections forThird Parties
2023
2022
Orange Service
Adopt a child
cw
Tearfund
V Newell
Church Army
ICM
CMSI
UFM
1,403
2(K)
2(K)
1,113
560
9,597
403
2CX)
200
2(XJ
71
Thè amounts above have been included in total income for the year under special collections (see note 31.
16. Financlal instruments
The Charity has the following financial instruments:
2023
2022
Loans and receivables held at amortised cost
Investments
15,630
387,259
12,610
15,169
Cash and cash equwalents
Sundry debtors
Other receivables
410,937
15,324
Investment in short term deposits
415,499
441,430
Financial liabilities measured at amortised
Bank loans and overdrafts
Accruals and other creditors
19,922
18,112
17. Analysis of Net Assets Among Funds
General
Deslgnated
Restritted
Endowment
2023
2022
Fixed Assets
Investments
Current Assets
Current Liabilities
2,418,680
2.418,680
15,630
399,869
2,396,601
15,169
426,261
15,630
95,797
143,673
160,399
Net Assets at 31 December
2 542 431
160 399
111427 2 814 257
2 819 919
18