Orumcree Parish Churth Annual RePt and Financial Statements For the year ended 31 Dember 2024 CharltSes Number: NIC 104192
Drumcree Parlsh Chur<h Annual report and financial statements fortheyearended 31 December 2024 Contents Pages Reference5 and administratwe details of the Charity Trustee5' Annual report Independent Examiner5 Report to the Trustees 5taternent of Financial activitie5 Bèlènce Sheet io Notes to the financial statements 11-18
DRUMCREE PARISH CHURCH References and admlnlstratlve detalls Charity Name.. Drumcree Parish Church Charity Registration Number: NIC 104192 Contact Address.. 78 Drumcree Road Portadown CoArmagh BT62 IPE Trustee5 Rev Gary Galwav Mr Alan Milligan MrGeoff Milligan Mr Gareth Moles Mr Edwin Mccambley Mrs Shirley Nelson Mi55 Valerie Newell Mr Alan Sergeant Ires 14th April 20241 Mr Keith Marshall lapp. 14th April 20241 Mr Jonathan Ruddell Mrs Julie Milligan Mrs Ruth Tedford Mr Gareth Galway Mr John Gates MrGeorge Murtagh Mr Brian Ruddell Mrs Laura Sergeant Ms Pamela Forde Principal Ol£e-bearer5 Cler8y'. Church Secretary.. Church Treèsurer.. Church Warden- aergy.. Church Warden- People.. Rev. GaryGalway Mrs Ruth Tedford Mr Brian Ruddell M5 Pamela Forde Mr Gareth Moles Independent Examlner Arnold Jackson Chartered Accountant McAleer Jack50n Ltd. Chartered Accountants Church House, 24 Dublin Road, Omagh, Co Tyrone, BT78 IHE Principal Bankers Bank of Ireland 13 Market Street Lurgan BT66 6AR Ulster Bank 20 High Street Portadown BT62 IHU Progressive Building Society 12 Market stet Portadown BT62 31Y
Trustees. Annual Report forthe year ended 31 Dember2024 TheTrustees present the annual report and accounts for Drumcree Parish Church for the year ended 31 December 2024. Oblectlves and N£tlvltles 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 a5 a whole and offering sUPPOrt for those rbeeding 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. materials and artefacts of significance to the cultural and religious heritage and maintenance of which is undertaken by the Select Vestry of Drumcree Parish Church. Achlevements. Performance & Publlc Benefft 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 has been 3 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 afford5 them an opportunityto watch the service at a time which 15 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 organisations. The church is also investing heavily in upgrading its premises and has put together a plan for a welcome area la social gathering areal, thi5 is at a significant cost. Theie are a150 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 nert year. the work will have been completed and what a difference it will make for all who come together. We have been greatly blessed (luring the year by our children's and youth ministries which continues to grow. It has also been encouraging to see new people joining us from all walks of life. and it is our hope ènd prayer that this will continue well into the future. It was a150 such an encouragefftent to See the increased number5 attending our annual fete once again. what a 5ucce55 It has become both in financial term5 and a wttne5S to the entire community. There is no doubt we live in challenÈinÉ times and we continue to reach out to those both within and outside the Parish. We have provided financial 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 in the days that lie ahead. In all the challenges that we as a church face, it is wonderful to know that we have a God who continues to look after our needs, provide5 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 Hi5 heart within them. May we all continue to be a blessing to others. whatever background they may come from.
Trustees. Annual Report forthe year ended 31 December2024 (continued) Under Chapter 12 of the Constrtution of the Church of Ireland. Safeguarding Trust is implemented and adhered to by Drumcree Parish Church in order to protect young people. leader5 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 Christian heritage. The Parish restricts acces5 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 ha5 given careful consideration to the Charity Commi55ion 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 well as providing public benefit. Financial Rtiriew The income in the Parish from various sources was £734,303 with outgoings of £155,056, giving a profit of £579,247 before unreali5ed gain in value of RC8 inve5tment5 of £287 and the gain from the Sale of land of £22.266. The overall profit was £601,800. TheTru5tee5 are deeply grateful to the Parish for theirfinancial support during 2024. The Bank and Cash in Hand Balance as at 310ecember 2024 was £566.354 lof thi5 balance £334.136 were unrestricted funds). It is the Tru5tees' 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. Golng Contem 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 2024 can be signed off as a going concern. Structure, Governance and Mana8wnwrt Govemlng Document and Constitution OA the Churity 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 ITrnsteesJ 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 member5 of the congregation for at least three month5 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 meeting5 of the General Vestry and to stand for election to the Select Vestry. Meeting5 of the General Vestry are held at least once a year. The Select Vestry 15 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 15 no limit on the number of term5 which may be served.
Trustees. Annual Report forthe year ended 31 December2024 (continued) Organisationol Stwrture 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 officiating in the Parish. Selertvestry members are responsible for making decisions on matters of general concern and importance to the Parish including deciding how P3ri5h funds are to be applied. The Select Vestry meet5 at times fixed by the member5 or bythe diocesan synod. Special meeting5 may be convened at any time by the chairper50n or the churchwardens. In 2024 the SelectVe5try met 16 times during the yearand the average attendance was 75%. Statement of Trustees. Re4)onsI110tleS The Trustees are responsible for preparing the Trustees. Report and the financial statement5 in accordance with applicable 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 Practice in the United Kingdom laccounting Standards i55ued by the Financial Reporting Council in the UK. including Charitie5 SORP IFRS 1021-Accounting and Reporting by Charities.. Statement of Recownmended Practice applicable to charitie5 preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR51021" and promulgèted by the Institute of Chartered Accountant5 in the United Kirhgdom and United Kingdom Lawl Under that law the Trustees must not approve thefinancial statements unless they are satisfied thatthey give a true and fairview of the state of the affairs of the charity and of the statement of finarhcial activities of the charity for that period. In preparing these financial statements. the Trustees are required to= Select suitable accounting policies and then apply them consistentlv Makejudgments and estimates that are reasonable and prudent State whether the financial statements have been prepared in accordance with applicable Accounting Standards and identify the standards in question, subject to any material departures beinE disclosed and explained in the financial statements and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Parish will continue a5 3 going concern. The Trustees are responsible for keeping accounting record5 that are Suff icient to show and explain the Parish's transartions and disc105e with reasonable accLJracy 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 assets of the Parish and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Trustees. Annual Report forthe year ended 31 December2024 (continued) Statementasto disclosure to our examiners In so far a5 the Trustee5 are aware at the timing of approvingourTrustees' annual report.. There is no relevant audit information of which the charitable companWs examiner is unaware. and The Tru5tee5 have taken all step5 that they ought to have taken to make themselve5 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. Signed on Behalf of the Trustees REVERAND GARYGALWA Y Trustee I: BRIAN RUDDELL Trustee 2: Date: 31 October 2025
Independent examiner's report to the charity Trustees of Drumcree Parish 0rth I report on the accounts of the Charity forthe year ended 31 December 2024. which are set out on pages 4 to 18. Respectlve responslbllltles of charlty Trustees and examlner As the charitvs 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 account5 under section 65 of the Charitie5 Act.. follow the procedures laid down in the general Directions given by the Commission under section 6519llbl of the Charities Act., state whether particular matters have cometo my attention. Basis of independent examinerfs report I have examined your charity accounts as required vnder section 65 of the Charities Act and my examination was carried out in ccord3nce with the general Direction5 given by the Charr(y Commission for Northern Ireland under section 6519llbl 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 also included consideration of any unusual items or disclosures in the accourbt5. and seeking explanations from you a5 charity Trustee5 concerning any such matter5. My role is to state whether Bny material matters have come to myattention giving wne cause to believe-. l. That accountine 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 requirement5 of the Charities Art.- 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examinerfs statement I have completed my examirbation and have no concern5 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. ARNOLDJACKSON Arnold Jackson 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 2025
Statement of Flnanclal Actlvltles forTheYear Ended 31 December 2024 Unrestritted Restrirted EndOWnt Funds 2024 Fund$ 2024 Funds 2024 Totsl 2024 Totsl 2023 Note lrtome Donationsand Plate Collections 81.810 11.522 93.332 80.360 Proceeds from Fund Raising Events 15.252 7.949 15.252 7.949 12.994 4.426 Bank and Deposit Interest Rental of Premises 40.493 40.493 33.901 Grants Other Receipts Totsl Income 1.2(X) 17.209 150.0 17.7 163.264 317 15.339 555.7C 555.7(M) 577.277 734.303 Expenditure Wages and Salaries Diocesan Costslassessment Church Running Costs Administration Costs 20.523 20.523 32.201 63,549 28.684 63,549 53.205 EO,517 42,491 24.521 1.305 1.305 Fundraising Costs Charitable Donations 3.9EA) 2,880 4.022 3,372 4.022 3,372 3,633 7,894 Other Expenses Depreciation Totsl Expenditure 5.120 5.120 4,957 130,535 24.521 155.056 156,213 Net Income/lExpenditurel before transfer5 32.729 19.1821 555.7(M) 579.247 16,1231 Transfers between funds Net Income/lEMpenditure) beforeother recognised gains and losses 32.729 19.1821 555.7(K) 579.247 16.1231 Gain on investment assets Gain on sale of fixed assets 12 287 287 22.266 461 U2 Net Movement of Funds 54.995 19.1821 555.987 601.8C 15,6621 Reconciliation of fund5: Total Funds brought forward 2.542.431 IfA).399 111.427 2.814.257 2,819.919 Total Fund5 carried forward 2.597.426 151.217 667.414 3.416.057 2,814,257
Statement of Flnanclal Posltlon as at 31 December 2024 2024 2023 Flxed Assets Tangible Fixed Assets Investment Propertie5 io 1.205.025 1,520309 1,175.971 1.242.709 li Investments 12 Total Fimed Assets 2 741 151 2 434 310 Current Assets Debtor5 117W5 12,610 Cash and Cash equivalerhts Total Current Assets 387 259 Creditors- amounts falling duewithin one v Total Credltors Net Current Asset5 Total Net Assets 3.416.057 2,814,257 The Funds ofthe Parlsh Unrestricted Fund5 2,597,426 151217 667 14 2.542.431 I.399 111427 Restricted Funds Endowment Funds Total Charity Fund5 14 3.416,057 2.814.257 The notes on pages 11 to 18 fomi an inte8ts1 part of these financial statements and should be read in conjunction therewith. The financial staternent5 on pages 9t0 10 were approved by the Board of Trustees on 31 October 2025 ènd signed on its behalf bv= REVERAND GARYGAL WAY Trustee I.. BRIAN RUDDELL Trustee 2.. io
Notes to the financial statementsfor the yearended 31 Dember 2024 l. Accounting polioes The principal accounting policies adopted. judgements and key source5 of estimation uncertainty in the preparation of the financial statements are as follows". al Basis of preparation The financial statements have been prepared on a goin6 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 benefrt entity under FRS 102. A55ets and liabilities are initially recogni5ed at historical c05t and transaction value unless otherwise 5t3ted in the relevant accounting policy notelsl. bl Preparatlon of accountson 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 obligation5 a5 they fall due for the foreseeable future Therefore these financial 5tatement5 have been prepared on a going concern ba51S. tl Income Plate Collection5. Weekly Envelope5. Graveyard income and Columbarium incoffte are accounted for on a cash receipt5 basis as the amount is collected. Income arising from the rental of Parish Centre facilities to third parties is recognised when the parish has entitlement to the funds, any performance condition5 attached to the income have been met. it is probable that the income will be received and the amount can be measured reliablv. 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 recewed 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 15 made and when the amount can be quantified with reasonable certainty. Donation5 and gift5 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 a 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 a cost against the activityfor 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 Herttage 355et5 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 355et 15 more than 50 years. li
Notesto the financial statements forthe year ended 31 December 2024 {continued) Accounting policies {continuedl The Prayer Room (originally known as the 'Stable5'1 and the store at the chLJrch 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 3S5et 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 benefr( to the users of the accounts and to the parish. Land acquired for Car Park at church is valued at acquisition costs in 2017 along with costs of building car park. No depreciation has been provided on this land or car park as the current estimated residual value is not less than its carrying value and the remaining useful life currentfy exceeds 50 years. The Rectory with yard and Sextons house are recognised at deemed cost, 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 ha5 been provided on these propertie5 35 the current estimated residual value of each is not lessthantheir carrying value and the remaining useful life of each propertycurrently exceeds SO years. Brea8h Church Hall and Richmount Church Hall are all recoenised at deemed cost. bein8 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 useful life of each property currently exceeds So years. Fixtures and fitting5 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 Cost of an item of £l.000 for it to be capitalised as a fixed asset. The assets, residual values and useful lives are reviewed, and adjusted, if appropriate, atthe end of each reporting period. The effect of any change is accounted for prospectively. 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 Ilossesllgains.. fl Investments Fixed a55et inve5tment5 comprising investment propertie5. investments in equitie5 and investment in RCBICIT Unit Tru5t5 are initially recorded at 105t and are then subsequently stated at fair value at each balance sheet date. Investments in unquoted investments are recorded at cost and are assessed annually for impairment. Unrealised gains and losses 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 c05t and fair value at the end of the year. Reali5ed gain5 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 realised and unrealised gains and losses in investments are reported within -Net Gains I (Losses) on Investments- within the Statement of Financial Activities. 81 Cash and cash equivalents Cash and cash equivalents includes cash in hand. deposits held at call with banks. other short-term highly liquid investrnent5 with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within Creditor5 Amounts falling due within I year. h) Flnanclal Instruments The Parish only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction price and subsequently measured at their settlement value. i} FurwJ5 Funds are classrfied as either restricted funds or unrestricted funds. defined as follows. Restricted funds arefunds subject to specific requirements asto their use which may be declared bythe donor or with their authority or created through legal processes, but still within the wider objects of the Parish. 12
Notes to the financial statementsfortheyearended 31 Dember2o24 Icontinuedl Endowment fund5 are fund5 which have been given on the condition that the original capttal Sum is not reduced, but the income there from is used for the purpose defined in accordance with the objert5 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 funds are earmarked at the discretion of the Trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally re5trictthe Trustees, discretion to apply the fund. 2. Critical Accounting Judgements arKI 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 expettations of future events that are believed to be reasonèble under the circumstance5. 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. UnTe5tricted Rtritted Endovnnent Funds 2024 Funds 2024 Fund 2024 Total 2024 Total 2023 Donatlons & Plate collectior Envelopes & online subs Annual Subs 59.407 59.407 56,696 2.010 2.010 1,730 GIftd 14.495 14.495 12.6(Y Loose Collection 4.561 4.561 1.087 11.772 3.427 3.716 2,182 Special Collections Donations 1.087 IQ435 1,337 81,810 11,522 93,332 80,360 Restritted Endowment Fund5 2024 Funds 2014 Total Fund 2014 2024 Total 2023 Proteeds from Fund raising events Fete 14.065 1,187 14.065 1,187 10.254 1,190 1.550 Fundraising events Richmount 15,252 15,252 12,994 13
Notes to the financial statementsfortheyearended 31 Dember2o24 Icontinuedl Unre5tr1cted Restrlcted Funds Endowmart Fund 2024 2024 Funds 2024 Total 2014 Total 2023 Other Receipts Graveyard 16.912 16.912 9,777 Sale of trailer 81Y) Miscellaneous 6,632 Mather5 Trust 171X) ).7(K) Berry Trust Land Summer camp fees Grants 465JXX) 465.IXK) 1.828 1.989 1.989 17.760 3A17 555,70) 577,277 17,209 Unrestritted Restritted Funds Endowment Fund 2024 Funds2024 Total 2024 Total 2023 Church Runningcosts Utilities, rates. insurance Maintenance 14.039 14.039 24.521 1179 14.698 16.195 1921 9,677 24521 Minibus 1179 12,4E Children'51youth work 28,684 24,521 53,205 42,491 Unrestricted Re5trirted Funds Endowment Fund 2024 2024 Funds 2024 Totsl 2024 Totsl 2023 Other expenses Richmount Repairs Bowling club expenses Senior Citizen5 expenses Professional & legal fee5 Magazine Miscellaneous Retirement gift 555 659 531 531 1912 4,049 799 799 2531 10) 3.372 3.372 7.894 Governance costs of £984 were incurred during the year which relate to fees paid to the independent examiner. Governance costs are included within Administiation costs on page 9. 14
Notes to the finantial statements forthe yearended 31 December 2024 {continued) 8 Taxati¢)n Drumcree Parish Church is recognised as a charity forthe purposes of applicable taxation legislation and therefore, is not subject to taxation on its charitable activities. 9 Analysis of staff costs. Trustee rernuneration and expen5e5. and the c05t of key managernent personnel EMploe$ Wages Analysls 2024 2023 Salaries and Wages National Insurance 19.686 31.652 Pensions 837 549 The average number of employees during the year. calculated on the basis of head count was l. 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 paid expenses of £948 relating to rates on the rectory which is occupied by the Rector. Mr5 Laura Sergeant 15 the daughter of Trustee Rev Gary Galway and herself a Trustee. She ha5 been employed for 3 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 conflict5 of interest that may arise. Her remuneration 15 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 NET VALUE AT 31.12.23 ADDtnoN DISPOSAL CHARGE DEPN VALUE AT 31.12.24 DEPNTO DATE 10. Tangible Assets Marquee Car park land Car park constructions costs Rectory with yard Sexton5 House 6.7C(J 1.257 5.443 255,498 312,858 243.857 255,498 312.858 243.857 255.498 312.858 243.857 IiO,(KX) 97.248 IiO,(KK) 97.248 iio,tKK) 97.248 Breagh Church Hall Richmount Church Hall 74,046 74,046 74,046 Trailer 3,138 8,730 3,138 8,730 Digger New Minibu5 11,994 11,994 9.780 4.937 Shipping Container AV Equipment Graveyard Extension Linkway Extension Sports Pitch Apple Laptop 4.843 1.211 3.632 19,715 19.703 10,813 8,902 19.703 870 2,370 7,402 19,703 29.892 18.(KX) 29.892 18.(KK) 26.604 56,496 18,( 842 1.499 375 1.124 Total Tangible Jlssèts 1.215.958 39.987 1.175.971 34.174 5.120 1.205,025 15
Notes to the financial statements for the year ended 31 December 2024 Icontinued) NET DEPN TO BOOK VALUE AT i)ATE 31.IL23 ADDtnoN DISPOSAL CHARGE NET BOOK VALUE AT 31.12.24 DEPN 11. Investment Properties House at Dungannon Road Yhe Rockerf House with store House at Derryanvil Road Derrycorey site and land Farmland at the Rectory Farmland at Rockery & Derryanvil Road Farmland at Breagh Hall Derrycorey Church H311 Derryall Church Hall Neill Property Berry Trust land 130.C 160,(KXI 77.5(K) 130.C(K) 130.( 160,LXX) 77,5(K) 40.LKM) 150,LK(J 77,51X) 150,CKK) 150,C(K) 410.CQ) 410.C#XI 410,) 9,000 54.026 24,683 54.026 24,683 187,5(K) 54.026 24,683 187.5(K) 1187.5(NJl 465,OLKI 1.242,709 1.242,709 465.0 I187.5) 1,520,209 12. Investments VALUE AT GAIN IN VALUE AT 31.12.23 31.1124 RCB Inve5tment5 287 15 917 Totsl Investment Assets 287 15 917 13. Creditors Amounts Duè within l year Accruals and othercreditors 8,779 19,730 192 PAYE 474 9.253 19,922 16
Notesto the financial 5tstementsforthe year ended 31 December 2024 {continued) 14. Funds of the Parish Irtgoing At 01 Jan Incoming ReSrS 2024 Resources revenue Transfers GainlLoss Investment At 31 Dec 2024 Endowment Fund5 McGivern Trust 75,774 20.023 75,774 20.023 465,0(K> 90,71K) 15.917 GardinerTrust Berry Trust Land MathersTrust RCB Investments 465,(KK) ).71X) 15.630 287 111.427 555.7(KJ 287 667.414 Restrirted Funds Bank of Ireland Deposit Ulster Bank Deposit 158.509 1.890 15.339 124.5211 149.327 I,8) 160,399 15,339 124,5211 151,217 Unrestrlcted Funds General Funds 2,542.431 163.264 1130.5351 21266 2,597,426 Total Funds 2.814.257 734.303 1155.0561 22.553 3,416.057 Pur 05es 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 Investments- 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. Mathers Trust- Income earned on this money is to be used for the benefit of the poor of the Parish. Pur oses of Restricted Funds Berry Tru5t- Income from the land is to be used to benefit the poor and the youth of the Parish. Bank of Ireland Deposit and Ulster Bank deposit- used for repairs and replacement of assets. Sundry Restricted Funds- These relate to various sundry restricted funds. 17
Notes to the financial statements for the year ended 31 December 2024 15. Collectlons for Thlrd Partles 2024 Orange Semce Adopt a thild CMJ Tearfund UFM Church Amiy ICM CMSI 772 1.403 2(K) 2LXJ 1,113 200 2(K) 2(K) 2(Y) 315 1.087 .716 The amounts above have been included in totsl income forthe year under Special collections15ee note 31. 16. Finanaal instruments The Charity has the followinÈfinancial instruments.. 2024 2023 Loans and recelvables held atamortlsed cost Investments 15.917 657,054 27,105 15,630 387.259 12.610 Cash and cash equivalents Sundry debtors Other re1vIbleS Investment in short term deposits 700,076 415.499 Financial liabilities measured at amortised Bank loans and overdrafts Accrua15 and othercreditors 9253 19,922 17. Analysis of NetA55ets Among Funds General De98ed Restrirted Endowment 2024 2023 Fixed A55etS Investments CurrentAssets Current Liabilities 2,260.234 465AKK) 2,725,234 15.917 15,917 IB6,497 684.159 2,418,680 15,630 399,869 346.445 151.217 Net Assets at 31 December 2 597 426 151217 667 414 3 416 057 2 814 257 18