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 charItS 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 prniseS 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