Parish of Drumgla55 Annual report and financial statements For the year ended 31 December 2023 Charities Number: NIC104193 ,iiiiiiiii
Annual report and financial statements for the year ended 31 DecembeT 2023 Contents Pages References and admlnistrative details Trustees, Annual Report Independent auditors, report to the Trustees Statement of financial activities Statement of financial position Statement of cash flows Notes to the financial statements 10-21
Parish of Drum8la55 References and administrative details Charity Name-. Parish of Drumglass Charity Registration Number.. NIC104193 Contatt Address: The Rectory 26 Circular Road Dungannon Co. Tyrone Trustees Rev Bryan Martin Rev Matthew Topley H Armstrong D Buckley B Davidson M Boyle A Ferguson T Forsythe R Houston N Cheevers (Appolnted April 20231 E Kirk (Appointed April 20231 W Thompson (Appointed April 20231 D Nesbitt (Appointed Apri120231 M Kerr L Leckey A Magee D Patterson Asmyth V Suitor D Thompson I Stewart (Resigned November 20231 G Boyle (Resigned Apri120231 J Mcknnstry (Resigned April 20231 E Bums (Resigned April 20231 Prindpal officbe3rers Minister in charge.. Church Treasurer.. Church Warden- Clergy: Church Warden- People.. Rev Bryan Martin DThompson W Thompson, D Buckley E Kirk, D Patterson Independent Examiner Ruddell & Company 16 Church Street Dungannon Co. Tyrone Bankers Danske Bank PO Box 183 Donegall Square West Belfast
Trustees, Annual Report for the year ended 31 December 2023 The trustees present the annual report and accounts for the Parish of Drumglass for the year ended 31 December 2023. Objectives and ArtivitTes The charitable purpose of the Church of Ireland is the advancement of religion. The principal funttion of the Parish of Drumglass IS to support the advancement of the Christian religion by promotln& through the work of the Parish of Drumglass the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Being open to and en8agin8 wlth society as a whole and offering support for those needing help are fundamental to the practical delivery of the benefits of Christianlty. As a result of artivity in the pursult of the advancement of the Christian religion, the Parish of Drumglass has custody of property and of records, materials and artefatts of signlficance to the cultural and religious heritage and malntenance of which is undertaken by the select vestry of the Parish of Drumglass. Achievements, Performance & Publlc Benefit Drumglass Parish has weekly seNices on Sunday morning5 and evenings comprising of a mix of Holy Communion, Family Service, Holy Baptism, Service of the Word, and Morning Prayer together with various other special services during the year e.g. Lenten, Harvest thanksgiving, Advent and Christmas. There is also a weekly 5hopper5' Service held on a Thursday morning. Pastoral care is provided for parishioners and those in the wider communlty- A range of other activities are provided by Drumglass Parish either by the church direttly or through various church organisations e.g. Choir, Sunday School, Crèche, Alf Youth Group, Prayer & Bible Study, Mother5, Union, Ladies, Guild, Senior Citizens, Clubs, Badminton, Bowls. Table Tennis, Th4U women's group, Stepping Stones Carer and Toddlers Group, Kidzone for primary school children, Brownies, Rainbows, and Guides. The Holiday Bible Club is held annually over a 5 day period culminating in a Family Fun Night held in Dun8annon Park. Drumglass Parish malntains an ongoing partnership with Belfast Central Mission IBCMI. This organization, in conjunction with Housing Support for Young People provides food and household goods for vulnerable young people in the local community who are homeless, leaving care orstrugglin8 to live independently. A partnership with Barnabas Aid also exists for the distribution of food for those in need. Drumglass Parish or8anises an annual Harvest Lunch, and two family BBQ'S are also organi5ed. There is an effertive inter_church co-operation within the local community. Drumglass Parish plays an attive role in Dungannon Churches Forum, and Dungannon Churches Together. as a part of which joint services are held on a regular basis. A number of members of the Parish serve on the Boards of Governors of local schools and support and encourage the work of the schools helping to maintain good standards and prattlces. In addition, the stsff of the Parish lead a55emblies on a regular basis in six of our local schools. The Parish supports the work of other charities and missionary work by either makinE donations or holdlng special collections in respect of same. We 5UPPOrt varlous charities and mission groups through ongoing deputation work, along with the giving of financial and prayerful support from the Parish. The artivities outlined above demonstrate how Drumglass Parish continues to implement its charitable purpose5 li.e. the advancement of religion) and meets the public Benefit requirement. Benefits to members of the public include contributing to splritual well-being of participants and the reinforcement of Christian values. Drumglass Parish has mitlgated any potential harm from the activities it carrie5 Out through the implementation of the Church of Ireland Safeguarding Trust Policy.
Trustees, Annual Report for the year ended 31 December 2023 (continued) Achlevements, Performance & Public Benefit (continued) The Parish ha5 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 achleve the P3rish's objectives and activities, a5 well as providing public benefit. Flnancial Review The principal source of income of the Parish of Drumglass continues to be from Donations and Plate Collections. The principal expense of the Parish of Drumglass is in respect of payments regarding Diocesan Costs/Assessrnent, salaries and church / hall repairs and running expenses. The Parish of Drumglass had a surplus of receipts over payments before other gains of £56,529.73 for the year ended 31 December 2023. The Parish of Drumglass continues to be in a healthy financial state as at 31 Decernber 2023 with total cash funds of £58.135.47 The Parish of Drumglass aims to retain sufficient reserves to meet its expected future expenditure requirements as well as potential future capital projects. Going Concern The trustees have reviewed its 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 31 December 2023 can be signed off as a going concern. Strurture. Governance and Management Governing Document and Conrtitution olthe Charity Chapter 111 o* the Constitution of the Church of Ireland governs Parishes and Parochial Organisation. The Select Vestry members are the Charity Trustees Recruitment ttndAppointment oASelert Vestry 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, may register as member5 of the general vestry of the parish. allowing them to attend and vote at meetings of the general vestry and to stand for electlon 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 nurnber of terms which may be served. Organi5ationolStructure The select vestry is responsible for the day to day management of the parish. The selecL vestry consists of the member of the clergy serving in the parish, any curate assistant I'the curate"), the churchwardens, the glebe wardens and generally not more than twelve other members ofthe general vestry elected at the General Vestry. The select vestry is chaired by the incumbent or other member of the clerdy officiating in the parish. Select vestry members are responsible for making decisions on matters of general concern and import3nee to the parish including deciding how parish funds are to be applied.
Trustees, Annual Report for the year ended 31 December 2023 (continued) The selert vestry meets at times fixed by the meTnbers or by the diocesan synod. Special meetin8s may be convened at any time by the chairper50n or the churchwardens. In 2023 the Select Vestry meet 10 times during the year and the average attendance was 94.1%. Statement of Tru5tees' Responsibilities The trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and regulations. The law applicable to charities in the Northern Ireland requires the trustees to preparÈ 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 (accounting standards issued by the Financial Reporting Council in the UK including Charities SORP IFRS 1021 Accounting and Reporting by Charities: Statement of Recommended Prattice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 "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 financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charity and of the statement of financial 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 consistently,. make judgments 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 being disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unle55 it is inappropf late to presume that the Parish wi15 continue as a going concern. The trustees are responsible for keeping accounting record5 that are sufficient to show and explain the P3ri5h'5 transartions 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 (Northern 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 preventlon and detection of fraud and other irregularities. Statement as to disclosure to our examiners In 50 far as the trustees are aware at the timing of approving our trustees. annual report: there is no relevant audit information of which the charitable examiner is unaware- and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant exarnination information and to establish that the charitws examiner is aware of that information. Independent Examiners The examiners, Ruddell & Company, have indicated their willin8ness to continue in office, and a resolution concerning their reappointment will be proposed at the Annual Easter Vestry Meeting. On Behalf of the Trustees Trustee I Trustee 2 i/ pL&J s Lgfyf 21 March 2024
Independent Examiners Report to the Trustees of Drumglass Parish Church I report on the account5 Of the Charity for the year ended 31 December 2023, which are set oLrt on pages 2 to 21. Respective re5pon5ibilities of charfty trustees and examiner As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern 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 Section 65(9)Ibl of the Charities Act state whether particular matters have come to my attention. Basis of independent examinerfs report I have examined your charity accounts as required under section 65 of the Charities Att and my examination was carried out in accordance with the general Direciions given by the Charity Commission for Northern Ireland under section 6519llbl of the Charities Att. 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 accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have corne to my attention giving me cause 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 accountinE record5 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examlnerf5 Statement I have completed my examination and have no concerns in respect of the matters (11 to14) listed above and, in connettion with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. JaL Jonathan RLsddell For Ruddell & Company Dungannon March 2024
Statement of Financial Activtties for the year ended 31 Dember 2023 Unrestricted Funds 2023 Restricted Funds 2023 Total 2023 Total 2022 Note Income Donations & legacies Other trading activities Investments Charitable activities other income 222,366.85 11,865.37 668.11 19,463.28 54,307.75 42,606.87 276,674.60 54.472.24 668.11 19.463.28 273,162.10 96.461.45 528.11 14.750.82 Total Income 254,363.61 96,914.62 351,278.23 384,902.48 Ex enditure on.. Gener3ting funds Charitable activitles Other Total Ex 369.14 237,409.17 14,003.42 251,781.73 4.753.21 37,288.56 825.00 42.966.77 5.122.35 274,797.73 14,828.42 294,748.50 272,055.74 14,560.64 286,616.38 enditure Net Income/ (Expenditure) before transfers 2,581.88 53,947.85 56,529.73 98,286.10 Transfer5 between fund5 18,926.091 8,926.09 Net Income/ {Expenditure} before other reco8nised gains and1055es 16.344.211 62.873.94 56,529.73 98.286.10 Gain/lLossl on investments assets Net movement In funds 16,344.211 62,873.94 56,529.73 98,286.10 Reconciliatlon of funds: Total funds brought forward 394,893.97 429,277.57 824,171.54 725,885.44 Total funds carried forward 388,549.76 492,151.51 880,701.27 824,171.54
Statement of Financial Position as at 31 December 2023 Fixed Assets Tangible Fixed Assets Investment Properties Investments Total fixed assets Note 2023 2022 li 12 971.745.87 950,182.37 13 971,745.87 950,182.37 Current Assets Debtors Cash and cash equivalents Total current assets 14 36,083.26 58,135.47 94,218.73 34,739.32 90,299.85 125,039.17 Creditors- amounts falling due within one year Creditors Total creditors 15 185,263.33 185,263.33 251,050.00 251,050.00 Net Current Assets 191,044.601 (126,010.831 Total net Assets 880,701.27 824,171.54 The funds of the parish Unrestrirted funds General funds Designated funds Total unrestricted funds Restricted Funds Endowment Funds 366.399.22 22,150.54 388,549.76 492,151.51 364,138.42 30.755.55 394,893.97 429,277.57 17 17 17 Total charlty funds 880,701.27 824,171.54 The notes on pages 10 to 21 are an integral part of these financial statements. The financial statements on pages 7 to 21 were approved by the Board of Trustees on 21 March 2024 and signed on its behalf by.. Trustee I Trustee 2 / k(o.',%
Statement of Cash Flows for the year ended 31 December 2023 Total funds 2023 Total funds 2022 Note Cash flows from operating activities: Net cosh provided by (used inj operoting urtivities Cash flows from Investing activities: Dividend5, interest and rents from investments Proceeds from the sale of property, plant and equipment Purchase of property, plant and equipment Proceeds from sale of investments Purchase of investments 20 {10,781.711 251.488.86 180.83 528.11 (21,563.501 (378,312.541 Net cash provided by (usedlnj invertlng artivities Cash flows from financing activities: Repayments of borrowing Cash inflows from new borrowing Receipt of endowment 122,164,381 (377,784.431 Net cosh provided by (usedinjfinnncing octivities Chonge in cosh ond c05h equNalents in the reporting period Cash and cash equlvalents at the beginning of the reporting period Change in cash and cash equÈvalents due to exchange rate movements Cosh and cash equlvolents at the end of the reportlng period {32,164.381 {126.295.571 90,299.85 216,595.42 21 58.135.47 90.299.85
Notes to the flnancial statements for the year ended 31 Dernber 2023 l. Accountlng policies The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: a) Basis 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 102) - Icharities SORP {FRS 1021), the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 1021. ThÈ Parish meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical c05t and transaction value unless Otherwise stated in the relevant accounting policy note. b} Preparation of accounts on a going concern basis 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 financi31 statements have been prepared on a going concern basis. c) Income Plate Collections and Weekly Envelopes incorne are accounted for on a cash receipts 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 conditions attached to the income have been rnet, it is probable that the income will be received and the amount can be measured reliably. Income from governmentand othergrants, whether'capital'grants or'revenue, grants, is recognised when the charity has entitlernent 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 unrestrlcted or restricted funds according to the terms under which the donation is made and when the amount can be quantified with reasonable certainty. Donations and gifts in kind are brou8ht into the account5 at their fair value to the Parish. d) Expenditure Expenditure is recognised once there is a leg31 or constructive obligation to make a payment to a third party, it is probable that settlernent will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the attivity for which the expenditure was incurred. 10
Notes to the financial statements for the year ended 31 December 2023 l. Accounting policies {contlnuedl e} Tangible assets The assets of the Parish compr15e:. Church Buildings Parish Centre Glebe House Fixtures and fittings The Church Buildings are deemed to be Heritage assets as defined by the Charities SORP IFRS1021. These Heritage a55ets 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. The Parish Centre is physically attached to the church and is not separable as an individual asset. As such it 15 deemed to be a Heritage asset and no value is ascribed to it in the balance sheet a5 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. The Glebe House is recoEnised at deemed cost, being the estimated fair value of the property at 31 December 2023. No depreciation has been provided on the glebe house as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. Fixtures and Fittings are recognised at cost and are depreciated on a straight line basis over a period of 5 years. 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 prospectively. The parish has set a minimum threshold of cost for an item to be considered to be capitalised as a fixed asset of not less than £1,000. Tangible assets are derecogni5ed 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'. n Investments Fixed asset investments comprising investment properties, investments in equities and investment in RCBICIT Unit Trusts are initially recorded at cost and are then subsequently stated at fair value at each balance sheet date. Investments in ulqkn'ot ir.vestments are recorded at cost and are assossed annually for impaSrment. lJnrealised gainr and losses represent the difference between the fair value at the beginning and end of the financlal 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 realised and unrealised gains and losses in investments are reported within "Net Gains I IL0s5esl on Investments within the Statement of Financial Activities.
Notes to the financial statement5 for the year ended 31 December 2023 (continued) l. Accounting policies (continued) gl Cash and cash equivalent5 Cash and cash equivalents includes cash in hand, deposit5 held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within Creditors Amounts falling due within l year. h) Financial instruments The Parish only has flnancial assets and financial liabilities of a kind that qualify as basic financial instruments. 8asic financial instruments are initially recognised at transaction price and subsequently measured at their settlement value. i) Funds Funds are classified as either rÈ5tritted funds or unrestricted funds, defined as follows. Restricted funds are funds subject to specific requirements 3S 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. 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 unrestritted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as separate fund. Thi5 designation has an administrative purpose only and does not legally restrict the tru5tees' discretion to apply the fund. 12
Notes to the financial statements for the year ended 31 Dember 2023 {contlnued) 2. Critical accounting Judgements and estlmation unortainty Estimates and judgments made in the process of preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectation5 of future event5 that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical judgments 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 causin£ a material adjustment to carrying amount5 of assets and liabilities within the next financial year. 3. Donations and legacies Unrestricted Fund5 2023 Restritted Funds 2023 Total 2023 Total 2022 Plate CollÈrtions Weekly envelopes / FWO Tax recovered on Donations Legacies Endowment income Special Appeals 6,062.38 161,667.09 39.710.16 13,000.00 6,062.38 161,667.09 41.885.66 13,000.00 3,057.31 159.815.11 39,543.63 2,175.50 38,036.75 54.307.75 222,366.85 38,036.75 276,674.60 50,154.55 273,162.10 4. Other trading activities Rentals from Parish Centre Grants received Special Fund Raising 4,944.08 2,225.00 4,696.29 11,865.37 2,730.00 7,674.08 2,225.00 44,573.16 54,472.24 5,202.50 71,911.22 19,347.73 96,461.45 39,876.87 42,606.87 5. Investments Deposit interest Dividends received Rental Income- Investment Properties Bank interest 180.83 180.83 371.45 487.28 668.11 487.28 668.11 156.66 528.11 6. Charitable artivities Weddings and funera15 agthziiie Other 12.776.00 ,898.0: 4,789.24 19,463.28 12.776.00 l.Q98.n4 4.789.24 19,463.28 3,760.00 2.IQK ?< 8,794.57 14,750.82 13
Notes to the financial statements for the year ended 31 Dernber 2023 {contlnued) 7. Analysis of Expenditure UnrestriGted Funds 2023 Restrirted Funds 2023 Total 2023 Total 2022 Generating Funds Investment Manager's Fees Fundraising cost5 Other 369.14 4.753.21 5,122.35 369.14 4,753.21 Charitable Activities Wages and Salaries Diocesan Costs/Assessment Church Running Costs Glebe Costs ChLtrch and hall repairs Charitablo donations Administration Costs 5,122.35 48.852.89 124,244.73 29,154.12 7,248.75 899.16 12,522.00 14,487.52 237,409.17 48,852.89 124,244.73 29.154.12 7.318.75 7,940.90 20,780.70 36,505.64 274,797.73 53,138.12 115.495.09 33,338.50 7,476.20 32,144.67 9,610.55 20,852.61 272,055.74 70.00 7041.74 8,258.70 22,018.12 37,388.56 Other Costs Youthwork Clergy Gifts Other Total Expenditure 1.614.96 1.245.00 11,143.46 14,003.42 1.614.96 2,070.00 11,143.46 14,828.42 825.00 2.459.90 4,650.00 7,450.74 14,560.64 825.00 Adminlstration costs of £36,505.64 were incurred during the year of which £1,260.00 relate5 to fees paid to the independent examiner. 14
Notes to the financlal statements for the year ended 31 December 2023 {continued) 8. Gain /(Loss} on Investment Assets 2023 2022 Unrealised fair value gains I Ilossesl on investments Unrealised fair value gains I Ilossesl on investment properties Realised gains / Ilossesl on investments Realised gainsllSossesl on investment properties 9. TaK*ion The Parish of Drumglas5 is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. 10. Analysis of staff costs, trustee remuneration and expenses. and the cost of key management personnel Employees 2023 2022 Net salaries and wages PAYE and national insurance costs Work Place Pension Total 41.778.87 5.672.48 1,401.54 48.852.89 44.349.03 7,171.80 1,617.29 53.138.12 The average number of employees during the year. calculated on the basis of a head count. was as follows: 2023 r4umber 2022 Number Ministerial support Administration Music staff Premises maintenance There are no employees In receipt of employee benefits in exce55 of £60.000 15
Note5 to the financlal statements for the year ended 31 December 2023 (continued) 11. Tangible fixed assets 8ulldlngs Office Equipment Cost At beginning of the year Addition5 Disposals At end of the year Total 950,182.37 19,338.50 2,225.(KJ 950,182.37 21,563.50 969,520.87 Depreciation At beginning of the year Depreciation Disposals At end of tho year 2,225.00 971,745.87 Net book value at beginning of the year Net book value at end of the year 950,182.37 969,520.87 950,182.37 971,745.87 2,225.00 12. Investment Properties Balance at Beginning of the year Additions during the year Disposals during the year Fair Value Gains / (Losses} Balance at end of the year 16
Notes to the financial stotements for the year ended 31 December 20231continued) 13. Investment5 Llsted Investments Other Investments Total Balance at beginning of the year Additions during the year Disposals during the year Fair Value gain / Ilossl on investments Balance at end of the year Analysis of Investments Equity Investments Other Listed Investments Investments in RB Unit Trusts Other unlisted investments 14. Debtors 2023 2022 Gift Aid 36,083.26 36,083.26 34,739.32 34,739.32 15. Creditors Amounts Due within l Year 2023 2022 Accruals and other creditors Taxation and Social Security Bank Loans 1,260.00 1,050.00 184,003.33 185,263.33 250,000.00 251,050.00 17
Notes to the financlal statements for the year ended 31 December 2023 (continued) 16. Flnancial instrument5 The company has the following financial instruments: 2023 2022 Loans and receivables held at amortised c05t Investments Sundry debtors 36.083.26 Other receivables Investment in shDrt term deposits 34.739.32 58,135.47 90,299.85 94.218.73 125,039.17 Financial liabilitie5 measured at amortlsed cost Bank loans and overdrafts Accruals and other creditors 184.003.33 250,000.00 1,260.00 1,050.00 185,263.33 251,050.00 17. Analysis of Net Assets Among Funds General Designated Total 2023 Total 2022 Restricted Fixed Assets Investments Current Assets Restricted Funds held in General/De5ignated accounts Current Liabilitie5 Net assets at 31 December 308,943.50 662.802.37 971.745.87 950,182.37 62.416.22 22.150.54 9.651.97 94.218.73 125,039.17 13.700.501 11,260.001 366.399.22 3,700.50 (184,003.331 (185,263.331 (251.050.001 492,151.51 880.701.27 824,171.54 22,150.54
Notes to the financial statements for the year ended 31 December 2023 (continued) 18. Funds of the Parish Atljan 2023 At 31 Dec 2023 Income Expenditure Transfers Endowment funds None Restricted funds Building Fund A/c Building Fund No 2 A.C Renovations Loan A.C 9,194.93 9,900.27 (250,000.001 (230,904.801 7,219.89 80,189.53 7.111.74 11,762.84 20,907.49 39.782.07 {4,305.001 173,673.07) 86,904.16 8,926.09 4,998.08 4,653.89 (184,003.33) (174,351.361 Unrestritted funds Designated Catering A/c Designated Compassion Alc 87,409.42 4,867.62 2.545.07 7,558.94 27.22 3,270.40 260.00 13.744.001 150.001 5,412.16 2,262.29 Designated St Eliz. Senior Citizen Club Designated St Eliz. Ladies Guild A/c Designated Bible Studv Group Alc Designated Table Tennis Club Alc Designated A2J Youth A/c Designated Kids Zone Alc Designated Youth Alc Designated Badminton A/c Designated Bowling A/c Designated Select A/c- Bowling Designated Wages Alc General A/c General Fund- Danske Investment General Fund - Subscriptions Alc General Fund- non bank Designated St Elizabeths Bowling Designated Moygashel Rec Bowling 2,274.38 11,318.16 527.06 4,246.07 1.652.90 749.20 54.04 624.48 743.05 259.18 97.09 8.503.99 31,945.11 2.298.29 11,869.29 0.02 2,626.75 17,177.26 9.87 1,945.92 4,326.79 11.683.401 {517.211 4,246.07 1,561.66 22.13 443.71 1,332.82 1,219.45 11, 192.911 126.54) 1600.001 {300.001 27.50 810.50 115.55 1.524.75 285.00 0.91 738.73 612.50 260.09 15.08 7,485.31 18,847.65 47,481.35 203,022.93 47,399.34 19,832.49 122,419.311 146,694.001 182,171.76 9,321.85 46,694.00 1,343.94 187.00 120.00 263,868.81 983,871.69 685.00 112.25 1,055,076.34 121,353.501 155.00 30.00 254,966.43 1,006,569.13 717.00 52.25 1,055,052.63 1150.001 18,926.09} Total funds 824,171.54 351,278.23 294,748.50 880,701.27 Pur oses of Endowment Funds The charity does not have endowment funds. Pur ose5 of Restricted Funds 8uilding Fund.. This 15 a fund to provide for reparations to church property. Pur oses of Desi nated Funds Catering Account - The Trustees have set aside funds for catering at events within the church. Compassion Account - The Trustees have set aside funds for compassionate relief within the church. Building Fund Account - The Trustees have set aside funds for reparations to church property. St Elizabeth Senior Citizen Club Account- The Trustee5 have set aside funds for the running of the senior citizen club within the parish. St Elizabeth Ladies Guild Account - The Trustees have set aside funds for the rL*nning of the ladies guild within the parish. St Elizabeth Sunday School Account - The Trustees have set aside funds for the running of the Sunday School within the parish. 19
Note5 to the financial statements for the year ended 31 December 2023 Icontlnued) Pui oses of Desi nated Funds continued A2J Vouth Account - The Trustees have set aside funds for the running of the youth club within the parish. Kids Zone Account- This account was closed during the year. Youth Account - This account was closed during the year. Badminton Account - The Trustees have Set aside funds for the running of the badminton club within the parish. Bowling Accounts - The Trustees have set aside funds for the running of St Annes's, St Elizabeth's and Moy8ashel bowling clubs within the parish. Bowling Select Account - The Trustees have set aside funds for the running of the bowling clubs within the par ish. Table Tennis Club Account- The Trustees have set aside funds for the running of the table tennis Club within the parish. Bible Study Account- This account was closed during the year. 19. Collectlon for Thlrd Parties 2023 8ishops' Appeal Hospice Leprosy Mission Mens Reach Heating for Hope UDR Dungannon Prirnary School 2022 1,775.00 2.929.00 165.00 2,360.00 260.00 151.75 1,201.75 1,212.50 1.520.00 1,565.85 478.85 8,433.70 5,186.00 The amounts Above have been included in total income for the year unLter "Donations and legacies" and in total expenditure for the year under "Charitable Activities" 20. Reconciliation of net income/lexpendlturel to cash flow from operating activlties 2023 2022 Net income/lexpenditure) for the reporting period (as per the statement of financial activities) Adjustments for: Depreciation charges Dividends, interest and rents from investments Loss/lprofitl on the sale of fixed assets Ilncreasel/decrease in debtors Increase/ldecreasel in creditors Net cash provided by (used in) operating artivffities 56.529.73 98,286.10 1180.831 1528.11) 11,343.941 165,786.67) 110,781.71} 4,612.87 149,118.00 251,488.86 20
Notes to the financial statements for the year ended 31 December 2023 (continuedl 21. Analysis of cash and cash equivalents 2023 2022 Cash in hand Notice deposits (less than 30 daysl Overdraft facility repayable on demand Total cash and cash equivalents 112.02 58,023.45 542.55 89.757.30 58,135.47 90,299.85 22. Transaction5 With the trustee5 The p3rish paid expenses of £7.318.75 during the year relating to the running costs of the rectory and other houses which are occupied by Rev Bryan Martin and curate Rev Matthew Topley. The parish also paid a bursary of £700.00 to M Monteith and a bursary of £500.OOto Joel Martin, 50n ofRev B Martin duringthe year. Aspecial collection of £825.00 was made for a gift for Mr K Mcllroy on his retirement as sexton and a retirement gift to the value of £45.00 was made to former treasurer Mrs M Kerr. 21