Ill DRUMGLASS PARISH Annual report and financial statements For the year ended 31st December 2024 Charity Number.. NIC104193
Annual report and financial statements for the year ended 31 December 2024 Contents Pages References and administrative details Trustees, Annual Report Independent auditors, report to the Trustees Statement of financial activities statement of financial position Statement of cash flow5 Notes to the financial statements 10-21
Parish of Drumglass References and administrative details Charity Name.. Parish of Drumglass Charity Re8lStration Number: NIC104193 Contact Address: The Rectory 26 Circular Road Dungannon Co. Tyrone Trustee5 Rev Matthew Topley L Blair (appointed April 20241 W Blair lappointed April 20241 L Stewart lappointed April 20241 A Cardwell B Davidson A Ferguson T Forsythe M Holmes R Houston D Buckley (resigned April 20241 A Smyth (resigned April 20241 D Patterson Iresigned April 20241 M Kerr E Kirk L Leckey A Magee D Smyth V Suitor D Thompson W Thompson M Boyle H Armstrong Iresigned April 20241 N Cheevers Iresigned April 20241 D Nesbitt (resigned April 20241 Prlnclpal Office-bearers Curate Assistant: Church Treasurer- Church Warden- Clergy.. Church Warden - People.. Rev Matthew Topley D Thompson M Holmes, L Blair E Kirk, A Cardwell Independent Examiner Ruddell & Company 16 Church Street Dungannon Co. Tyrone Bankers Danske Bank PO Box 183 Donegall Square West Belfast
Trustee Annual Report for the year ended 31 December 2024 The trustees present the annual report and accounts for the Parish of Drumglass for the year ended 31 December 2024. Objectives and Activitles The charitable purpose of the Church of Ireland is the advancement of religion. The principal function of the Parish of Drumglass is to support the advancement of the Christian religion by promoting, through the work of the Parish of Drumglass the whole mission of the Church, pastoral, evangelistic. social and ecurnenical. 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. A5 a result of activity in the pursuit of the advancement of the Christian religion, the Parish of Drumglass 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 the Parish of Drumglass. Achievements, Performance & Publlc Beneflt Drumglass Parish has weekly services on Sunday mornings 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 Shoppers, Service held on a Thursday morning. Pastoral care is provided for parishioners and those in the wider community. A range of other activities are provided by Drumglass Parish either by the church directly or through various church organisations e.E. Choir, Sunday School, Crèche, Youth Group, Prayer & Bible Study, Mothers, Union, Ladies, Guild, Senior Citizens, Clubs, Badminton, Bowls, Table Tennis, 4u women's group, Stepping Stones Carer and Toddlers Group, Brownies, Rainbows, and Guides. The Holiday Bible Club is held annually over a 5 day period culminating in a Family Fun Night. Drumglass Parish maintains 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 or struggling to live independently. A partnership with Barnabas Aid also exists for the distribution of food for those in need. There is an effective inter-church co-operation within the local community. Drumglass Parish plays an active 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 schoo15 helping to maintain good standards and practices. In addition, the staff of the Parish lead assemblies on a regular basis in six of our local schools. The Parish supports the work of other charitie5 and missionary work by either making donations or holding special collections in respect of same. We support various charities and mission groups through ongoing deputation work, along with the giving of financial and prayerful support from the Parish. The activities outlined above demonstrate how Drumglass Parish continues to implement its charitable purposes {i.e. the advancement of religion) and meets the public Benefit requirement. Benefits to members of the public include contributing to spiritual well-being of participants and the reinforcement of Christian values. Drumglass Parish has mitigated any potential harm from the activities it carries out through the implementation of the Church of Ireland Safeguarding Trust Policy.
Trustees, Annual Report for the year ended 31 December 2024 (continued) Achievements, Performance & Public Beneflt {contlnued) The Parish has given careful consideration to the Charity Commission for Northern Ireland'5 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. Financlal Review The principal source of income of the Parish of Drumg13ss coritinues to be from Donations and Plate Collections. The principal expense of the Parish of Drumglass is in respect of payments regarding Diocesan Costs/Assessment, salaries and church / hall repairs and running expenses. The Parish of Drumglass had a surplus of receipts over payments before other gains of £168,611.71 for the year ended 31 December 2024. The Parish of Drumglas5 continues to be in a healthy financial state as at 31 December 2024 with total cash funds of £39,162.90. The Parish of Drumglass aims to retain sufficient reserves to meet its expected future expenditure requirements as well as potential future capital projects. Goin8 Conrn 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 2024 can be signed off as a going concern. Structure, Governance and Management Governing Document and Constitution of the Charity Chapter 111 of the Constitution of the Church of Ireland governs Parishes and Parochial Organisation. The Select Vestry members are the Charity Trustees Recruitment and Appointment of Select 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 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. Organisational Strurture 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, any curate ass1Stant I'the curate"). 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 or other member of the clergy officiating 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.
Trustees, Annual Report for the year ended 31 December 2024 Icontinuedl The select vestry meets at times fixed by the members or by the diocesan synod. Special meetings may be convened at any time by the chairperson or the churchwardens. In 2024 the select Vestry met 14 time5 during the year and the average attendance was 84Yo. Statement of Trustees, Responsibilitie5 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 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 issued by the Financial Reporting Council in the UK including Charities SORP IFRS 1021 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 "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 Eive 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 unless 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 Parish'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 (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 prevention and detection of fraud and other irregularities. Statement as to disclosure to our examiners In so 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 examination information and to establish that the charity's examiner is aware of that information. Independent Examiners The examiners, Ruddell & Company. have indicated their willingness 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
Independent Examiners Report to the Trustees of Drumglass Parish Church I report on the accounts of the Charity for the year ended 3 1 December 2024, which are set out on pages 2 to 21. Respective responslbilities of charity trustees and examlner As the charity's trustees you are responsible for the preparation of the account5 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 section 6519llbl 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 Act and my examination was carried out in accordance with the general Directions given by the Charity 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 a150 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 come 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 accDrd with those accounting records 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 examinerfs statement 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. Jonathan Ruddell For Ruddell & Company Dungannon 6 14)11-
Statement of Financial Actlvities for the year ended 31 December 2024 Unrestricted Funds 2024 Restricted Funds 2024 Totsl 2024 Total 2023 Note Income Donations & legacies Other trading activities Investments Charitable activities Other income 279,600.26 16,277.84 1,380.36 22,790.27 71,893.83 35,342.29 351,494.09 51,620.13 1,380.36 22,790.27 276,674.60 54,472.24 668.11 19,463.28 Total Income 320,048.73 107,236.12 427.284.85 351,278.23 enditure on: Generating funds Charitable activities other 642.00 210,498.55 18,953.08 230,093.63 5,316.65 22,112.86 1.150.00 28,579.51 5,958.65 232,611.41 20,103.08 258,673.14 5,122.35 274,797.73 14,828.42 294,748.50 Total Ex endlture Net Income/ IExpenditurel before transfers 89,955.10 78.656.61 168,111.71 56.529.73 Transfers between fund5 1108,587.221 108.587.22 Net Income/ (Expenditure) before other recognised gains and105ses 118,632.121 187,243.83 168,611.71 56,529.73 Gain/lLossl on investments assets Net movement in funds 118,632. 121 187,243.83 168,611.71 56,529.73 Reconciliation of funds". Total funds brought forward 388,549.76 492.151.51 880,701.27 824,171.54 Total funds carried forward 369,917.64 679,395.34 1,049,312.98 880,701.27
Statement of Financial Position as at 31 December 2024 Note 2024 2023 Fixed Assets Tangible Fixed Assets Investment Properties Investments Total fixed assets li 12 974,600.87 971,745.87 13 974,600.87 971.745.87 Current Assets Debtors Cash and cash equivalent5 Total current assets 14 36.839.21 39,162.90 76,002.11 36,083.26 58,135.47 94,218.73 Creditors- amounts falling due within one year Creditors Total creditors 15 1,290.00 1,290.00 185,263.33 185,263.33 Net Current Asset5 74,712.11 191,044.601 Total net Assets 1,049,312.98 880,701.27 The fund5 of the parish Unrestricted funds General funds Designated funds Total unrestricted funds Restricted Funds Endowment Funds 342,226.92 27.690.72 369,917.64 679,395.34 366,399.22 22,150.54 388.549.76 492,151.51 17 17 17 Total charity funds 1,049,312.98 880,701.27 The note5 on pages 10 to 21 are an integral part of these financial statements. th The financial statement5 on pages 7 to 21 were approved by the Board of Trustees on 8 April 2025 arid Signed on its behalf by.. Trustee I Trustee 2
Statement of Cash Flows for the year ended 31 December 2024 Total funds 2024 Total funds 2023 Note Cash flows from operating activities: Net cash provided by (used in) operating ortivities Cash flows from investing activities: Dividends, 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 20 116,538.381 110,781.711 420.81 180.83 12,855.001 121,563.501 Net C05h provided by (used inj investing octivitie5 Cash flows from financing activities: Repayments of borrowing Cash inflows from new borrowing Receipt of endowment 118,972.571 132,164.381 Net cosh provided by (used inj financing artivities Change In c05h ond c05h equlvolents In the reporting period Cash and cash equivalents at the beginning of the reporting period Change in cash and cash equivalents due to exchange rate movements Cosh and cash equivalents ot the end of the reporting period 118,972.571 132,164.381 58,135.47 90.299.85 21 39,162.90 58,135.47
Notes to the financial statements for the year ended 31 December 2024 l. Accounting 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 1021- (Charitie5 SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. 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 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 financial statements have been prepared on a going concern basis. cl Income Plate Collections and Weekly Envelopes income 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 met, it is probable that the income will be received and the amount can be measured reliably. Incomè 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 quantified with reasonable certainty. Donations and gifts in kind are brought into the accounts at their fair value to the Parish. d) Expendlture Expenditure is recognised once there is a legal or constructive obli83tion 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 activity for which the expenditure was incurred. 10
Notes to the financial statements for the year ended 31 December 2024 l. Accountin8 policies Icontinuedl e) Tanglble assets The assets of the Parish comprise:_ Church Buildin8S 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 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. The Parish Centre is physically attached to the church and 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. The Glebe House is recognised at deemed cost, being the estimated fair value of the property at 31 December 2024. 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 reco8nised at cost and are depreciated on a straight line basis over a period of S yèars. 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 derecognised 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 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 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 / ILossesl on Investments" within the Statement of Financial Activities.
Notes to the flnancial statements for the year ended 31 December 2024 Icontinuedl l. Acmunting pollcles (continued) g) Cash and cash equivalents Cash and cash equivalents includes cash in hand, deposits 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 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. 11 Funds Funds are classified as either restricted funds or unrestricted funds, defined as follow5. 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. Endowment funds are funds which have been given on the condition that the Of igin31 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 part5 of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are desiEnated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees, discretion to apply the fund. 12
Notes to the financial statements for the year ended 31 December 2024 (continued) 2. Crltlcal accounting judgements and estimation UnrtaintY 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 expectations of future events 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 causing a material adjustment to carrying amounts of assets and liabilities within the next financial year. 3. Donations and legacies Unrestricted Funds 2024 Restricted Funds 2024 Total 2024 Total 2023 Plate Collections Weekly envelopes / FWO Tax recovered on Donations Legacies Special Appeals Other Donations 6,250.04 153,554.10 29.768.79 88,500.00 642.33 885.00 6,250.04 192,899.10 40,315.29 90,500.00 6,489.66 15,040.00 351,494.09 6.062.38 161,667.09 41.885.66 13.000.00 38.036.75 16,022.72 276,674.60 39,345.00 10,546.50 2000.00 5,847.33 14,155.00 71,893.83 279,600.26 4. Other trading activities Rentals from Parish Centre Grants received Specia5 Fund Raising 5,256.52 10,480.32 541.00 16,277.84 1,800.00 7,056.52 10.480.32 34,083.29 51,620.13 7,674.08 2,225.00 44,573.16 54,472.24 33.542.29 35,342.29 S. Investments Dividends received Rental Income- Investment Properties Bank interest 420.81 420.81 180.83 959.55 959.55 487.28 1,380.36 1,380.36 668.11 6. Charitable activltles Weddings and funerals Magazine Other 11,053.75 2,801.50 8,935.02 22,790.27 11,053.75 2,801.50 8,935.02 22,790.27 12,776.00 1,898.04 4,789.24 19,463.28 13
Notes to the financial statements for the year ended 31 December 2024 Icontinuedl 7. Analysis of Expenditure Unrestricted Funds 2024 Restricted Funds 2024 Total 2024 Total 2023 Generating Funds Fundraising costs Other 642.00 5,316.65 5,958.65 5,122.35 642.00 5,316.65 5.958.65 5,122.35 Charitable Activities Wages and Salaries Diocesan Costs/Assessment Church Running Costs Glebe Costs Church and hall repairs Charitable donations Administration Costs 35,388.21 131,819.32 27.499.81 4,520.86 294.00 559.67 10,416.68 210,498.55 35,388.21 131,819.32 27,499.81 4,520.86 7,064.02 5.613.00 20,706.19 232,611.41 53,138.12 124,244.73 29,154.12 7,318.75 7,940.90 20,780.70 36,505.64 274,797.73 6,770.02 5,053.33 10,289.51 22,112.86 Other Costs Youthwork Clergy Gifts Other Total Expenditure 1,352.28 4.800.00 12,800.80 18,953.08 1,352.28 5,950.00 12.800.80 20,103.08 1,614.96 2,070.00 11,143.46 14,828.42 1,150.00 1.150.00 Administration costs of £20,706.19 were incurred during the year of which £1.290.00 relates to fees paid to the independent examiner. 14
Notes to the financial statement5 for the year ended 31 December 2024 {continuedl 8. Galn /ILossl on Investment Asset5 2024 2023 Unrealised fair value gains / Ilossesl on investments Unrealised fair value gains I Ilossesl on investment properties Realised gains / Ilossesl on investments Realised gainslllossesl on investment properties 9. Taxation The Parish of Drumglass is recogni5ed 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 2024 2023 Net salaries and wages PAYE and national insurance costs Work Place Pension Total 30,527.49 4,169.21 691.51 41.778.87 5,672.48 1,401.54 48,852.89 35,388.21 The average nurnber of employees during the year, calculated on the basis of a head count, was as follows: 2024 Number 2023 Number Ministerial support Administration Music staff Premises maintenance There are no employees in receipt of employee benefits in excess of £60,000 15
Notes to the financial statement5 for the year ended 31 December 2024 Icontinuedl 11. Tangible flxed assets Office Equipment Buildings Total Cost At beginning of the year Additions Disposals At end of the year 969.520.87 2,225.00 2,855.00 971,745.87 2.855.00 969,520.87 5,080.00 974.600.87 Depreciation At beginning of the year Depreciation Disposals At end of the year Net book value at beginning of the year Net book value at end of the year 969.520.87 969,520.87 2,225.00 5,080.00 971,745.87 974,600.87 12. Investment Propertles Balance at Beginning of the year Additions during the year Disposals during the year Fair Value Gains / ILossesl Balance at end of the year 16
Notes to the financial statements for the year ended 31 December 2024 Icontlnuedl 13. Investments Listed Investments Other Investments Total Balance at beginning of the year Additions during the year Disposals during the year Fair Value gain / (loss} 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 2024 2023 Gift Aid 36,839.21 36,839.21 36,083.26 36,083.26 15. Creditors Amoijnts Due within l Year 2024 2023 Accruals and other creditors Taxation and Social Security Bank Loans 1.290.00 1.260.00 184.003.33 185,263.33 1,290.00 17
Notes to the financial statements for the year ended 31 December 2024 (continued) 16. Financial instruments The company has the following financial instruments:2024 2024 2023 Loans and receivables held at amortised cost Investments Sundry debtors 36,839.21 36.083.26 Other receivables Investment in short term deposits 44.507.56 81,346.77 58,135.47 94,218.73 Financial liabilities measured at amortised cost Bank loans and overdrafts Accruals and other creditors 5,344.66 184,003.33 1,290.00 1,260.00 6,634.66 185,263.33 17. Analysis of Net Asset5 Among Funds Total 2024 Total 2023 General Designated Restrirted Fixed Assets Investments Current Assets Restricted Funds held in General/Designated accounts Current Liabilities Net assets at 31 December 311,798.50 662,802.37 974,600.87 971,745.87 31,748.42 27.829.72 16.423.97 76.002.11 94,218.73 130.001 (1,290.001 342,226.92 1139.001 169.00 11,290.001 1185,263.33) 1,049,312.98 880.701.27 27,690.72 679,395.34 18
Notes to the financlal statements for the year ended 31 Dember 2024 (continued) 18. Funds of the Parish Atljan 2024 At31 Dec Income Expenditure Transfers 2024 Endowment funds None Restricted funds Building Fund Alc Building Fund No 2 A/c Renovations Loan Wc Restricted funds in Investment Alc 4,998.08 4,653.89 1184,003.331 3,175.50 (171,175.861 5,760.50 86,684.29 16,770.021 15,408.281 110,197.881 3.988.56 3,491.41 182,438.491 194.201.21 13.175.501 108,587.22 92,444.79 122,376. 181 7.479.97 Unrestricted funds Designated Catering Alc Designated Compassion Alc Designated St E5iz. Sen Citizen A/c Designated St Eliz. Ladies Guild A/c Designated Table Tennis Club Alc Designated A2J Youth A/c Designated Badminton A/c Designated Bowling Alc Designated Select A/c- Bowling Designated St Eliz. Bowling Alc Designated Moyg. Rec Bowling Alc Designated Wages Alc General Alc General Fund- Danske Investment General Fund- Subscriptions Alc General Fund- non bank 5,412.16 2.262.29 1.945.92 4,326.79 4,246.07 1,561.66 738.73 612.50 260.09 717.00 52.25 15.08 7,485.31 15,672.15 6,616.93 1697.001 17,000.001 4,332.09 2,262.29 6,312.67 6,451.23 4,246.07 1,038.24 1,889.05 486.21 264.56 494.98 52.25 0.08 15,291.231 9,144.44 11,736.00 7,155.25 500.00 927.53 3,403.82 360.00 4.47 252.98 180.00 16,869.251 15.030.811 1500.001 1500.001 {1,450.951 11,653.501 1186.291 1600.001 1300.00} 1325.00) 1150.001 130.001 1150.001 134,726.701 34,711.70 (187,812.461 14,305.54 1340.001 (102,329.461 146.075.001 160,730.38 96,141.75 46.07S.00 725.95 1,006,569.13 2,855.00 1.010,150.08 1,051,877.13 334,810.06 (236,266.961 (108,587.221 1,041,833.01 Total funds 880,701.27 427.254.85 265,643.14 1,049,312.98 19
Notes to the financial statements for the year ended 31 December 2024 {continued) 19. Collection for Third Parties 2024 2023 Bishops, Appeal Hospice Centre4Christianity World Vision - Gifty Heating for Hope UDR 900.00 1,775.00 2,929.00 288.70 397.00 90.00 1,520.00 1,565.85 478.85 1612.50 Dungannon Primary School Benburb District Killyrnan District MUVE 654.38 372.25 382.50 4,862.33 8,433.70 The amounts above have been included in total income for the year under "Donations and legacies" and in total expenditure for the year under "Charitable Activities" 20. Reconciliation of net income/{expenditurel to cash flow from operating activities 2024 2023 Net incomellexpenditure) for the reporting perlod las 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 Increaselldecreasel in creditors Net cash provided by (used in) operating activities 168.611.71 56,529.73 1420.811 1180.83 1755.951 (183,973.331 116,538.381 11,343.94 165,786.671 110,781.711 20
Note5 to the financial statements for the year ended 31 December 2024 Icontinuedl 21. Analysis of cash and cash equivalents 2024 2023 Cash in hand Notice deposits (less than 30 days) Overdraft facility repayable on demand Total cash and cash equivalents 416.77 44,090.79 15,344.661 39,162.90 112.02 58,023.45 58.135.47 22. Transaction5 With the trustees The parish paid expenses of £4.520.86 during the year relating to the running costs of the rectory and other houses occupied by Rev Bryan Martin and curate Rev Matthew Topley. The parish also paid a bursary of£l.300.00 to Matthew Monteith. A special collection of £1,150.00 was made for a gift for Rev Brian Martin. 21