CHARITY REGISTRATION NUMBER: 104296 Annaghamore Parish Church Unaudited Financial Statements 31 December 2023 FEB CHARTERED ACCOUNTANTS Chartered Accountants Linenhall Exchange 1 st Floor, 26 Linenhall Street Belfast Northern Ireland BT2 8BG Annaghamore Parish Church Financial Statements Year ended 31 December 2023 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements Annaghamore Parish Church Trustees, Annual Report Year ended 31 December 2023 The trustees present their report and the unaudited finanGial statements of the club charity for the year ended 31 December 2023. Reference and administrative details Registered charity name Annaghamore Parish Church Charity registration number 104296 Prfncipal office 54 Moss Road Portadown Craigavon County Armagh BT62 1NB The trustees Andrew Allen Mark Boyce Gareth Boyd Alan Elliott Rev Dorothy Dunwoody Brian Matchett David Parker Derek Williamson Neville Woods Stephen Watt May Woods Gareth Anderson Nigel Beattie Colin Williamson Alistair Jackson Alan Ogilby Hilarly Mayblury Claire Crossley Independent examiner FEB Chartered Accountants Linenhall Exchange 1 st Floor, 26 Linenhall Street Belfast Northem Ireland BT2 8BG Annaghamore Parish Church Trustees. Annual Report (contlnu8dJ Year ended 31 December 2023 The trustees. annual report was approved on 20 August 2024 and signed on behalf of the board of trustees by: Alan Elliott Treasurer Rev Dorothy Dunwoody Rector Annaghamore Parish Church Independent Examiner's Report to the Trustees of Annaghamore Parish Church Year ended 31 December 2023 I report to the trustees on my examination of the financial statements of Annaghamore Parish Church ('the Glub charity,) for the year ended 31 December 2023. Responsibilities and basis of report As the trustees of the club charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act (Northem Ireland) 2008 (the '2008 Act,). You are satisfied that your Club charity is not required by charity law to be audrted and have chosen instead to have an independent examination. I report in respect of my examination of the club charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charty Commission for Northern Ireland under section 65{9}Ib) of the 2008 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material ￿spect. accounting records were not kept as required by with section 63 of the 2008 Act; or the financial statements do not accord wrth those records. or the financial 5tstements do not comply with the accounting requirements of the 2008 Act,. or the financial stalements do not compty with the applicable requirements conceming the fom and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and faiv view which is not a matter considered as part of an independent examination. I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. FEB Chartered Accountants Independent Examiner Linenhall Exchange 1 st Floor, 26 Linenhall Street Belfast Northern Ireland BT2 8BG Annaghamore Parish Church Statement of Financial Activities Year ended 31 December 2023 2023 Restricted funds Total funds 2022 Unrestricted funds Total funds Note Income and endowments Donations and legacies Investmenl income 107,917 83,877 191,794 183,881 Total income 107,917 83,881 191,798 183,881 Expenditure Expendilure on raising funds.. Costs of raising donations and legacies Total expenditure 67,450 76,794 144,244 123,492 67,450 76,794 144,244 123,492 Net income and net movement in fund5 40,467 7,087 47,554 60,389 Re¢onciliatlon of funds Total funds brought forward Total funds carried forward 335,565 T16,319 1,111,884 1,051,495 376,032 783,406 1,159,438 1,111,884 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 6 to 13 forni part of these financial statements. Annaghamore Parish Church statement of Financial Positlon 31 December 2023 2023 2022 Note Fixed assets Tangible fixed assets 1,198,004 1,158,407 Current assets Cash at bank and in hand 293,865 316,787 Creditors: amounts falling due within one year Net current assets 30,881 262,984 69,222 247,565 Total assets less Current liabilities 1,460,988 1,405,972 Creditors: amounts falling due after more than one year Net assets 10 301,550 294,088 1,111,884 1,159.438 Funds of the charity Restricted funds Unrestricted funds 783,406 376,032 1,159,438 776,319 335,565 Total charity funds 11 1,111,884 These financial stalements were approved by the board of trustees and authorised for issue on 20 August 2024, and are signed on behalf of the board by.. STr Th)￿0 oc.I Alan Elliott Treasurer Rev Dorothy Dunwoody Rector The notes on pages 6 to 13 form part of these Ilnanclal statements. Annaghamore Parish Church Notes to the Financial Statements Year ended 31 December 2023 General infonnation The club charity is a public benefti entity and a registered charity in Northem Ireland and is unincorporated. The address of the principal office is 54 Moss Road, Portadown, Craigavon, County Armagh, BT62 1NB. Statement of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 (FRS 1021 (Charities SORP (FRS 102)) and the Charities Act (Northern Ireland) 2008. Accounting policies Basis of preparation The financial statements have been prepared on the historical Cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional Cu￿encY of the entity. Going Concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, eslimales and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Foreign currencies Foreign currency transaclions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gain5 or losses being taken to the statement of financial actrvitie5. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of two sub-classes= restricted income funds or endowment funds. Annaghamore Parish Church Notes to the Financial Statements (continued) Year ended 31 December 2023 Accounting policies (conllnuedj Incoming resources All incoming resources are included in the statement of financial activities when entillement has passed to the charity., il is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular Categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value Can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the suppty of services is recognised with the delivery of the contracted service. This is classrfied as unrestricted funds unless there is a contractual requirement for il to be spent on a particular purpose and returned rf unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannol be fully recovered. and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support Costs and costs relating to the governance of the charty apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable actSVlties. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the aclivities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are intiially recorded at cost. and subsequently stated at cost less any accumulated depreciation and impaimienl losses. Any tangible assets carried at revalued amount5 are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. Annaghamore Parish Church Notes to the Financial Statements (contlnued) Year ended 31 December 2023 Accounting policies (conllnued) Tangible assets (contlnued) An increase in the Carrying amount of an asset as a result of a ￿ValuatIon, is reGognised in other recognised gains and losses. unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other re¢ognised gains and losses on the statement of financial activities. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations Freewill offering - weekly envelopes Freewill offering - standing orders Church casual collections Tax refund on gift aid payments Harvest day gifts Magazine subscriptions Donations Lenten Gifts Building Fund - weekly envelopes Building Fund - standing orders Donations to Building Fund Hall hire & rents Fund raising & chanty boxes Mission income Funeral l Burial donations Wedding Funeral catering donations Bowling Club income Youth Club Fund Raising Parish income 39,927 22,744 2,264 24.269 14,590 505 3,618 39,927 22,744 2,264 24,269 17,755 505 3,618 2,615 35,668 16,556 5,710 120 10,147 2,254 1,115 3,455 301 500 2,271 3,165 2,615 35,668 16,556 5,710 120 10,147 2,254 1,115 3,455 301 500 2,271 107,917 83,877 191,794 Annaghamore Parish Church Notes to the Financial Ststements (continued) Year ended 31 December 2023 Donations and legacies (conllnued) Unrestricted Funds Restricted Total Funds Funds 2022 Donations Freewill offering - weekly envelopes Freewill offering - standing orders Church casual collections Tax refund on gift aid payments Harwest day gifts Donations Lenten Gifts Building Fund - weekly envelopes Building Fund - standing orders Donations to Building Fund Fund raising & charity boxes Dance classes & Other Mission income Funeral l Burial donations Parish income 46,410 19,430 2,095 24,954 15,615 1,821 46.410 19,430 2,095 24,954 15,615 1,821 1,325 36,777 14,529 1,865 14,301 400 1,340 1,880 1,139 1,325 36,777 14.529 1,865 14,301 400 1,340 1,880 1,139 110,325 73,556 183,881 Investment income Restricted Total Funds Funds 2023 RestrTGted Total Funds Funds 2022 Bank interest receivable Annaghamore Parish Church Notes to the Financial Statements (continued) Year ended 31 December 2023 Costs of raising donations and legacies Unrestrided Funds Restricted Total Funds Funds 2023 Rates & water Light & heat Repairs & maintenance Insurance Telephone Stationery Youth club fund Rectory expenses Diocesan Assessment Prinling, Church envelopes & magazine Sunday School.. Prizes & materials Gifts & Gratuities RCB Covenant Administrative Charges Other- general fund Cleaning Small equipment purchases Other- Building Fund Mission expenditure Burial costs Catering costs Bowling club expenditure 1,407 9,549 1,407 14,342 10,669 4,967 593 1,824 440 4,200 45,269 4,793 10,669 4,967 593 1,824 440 4,200 45,269 615 1,465 615 1,465 2.528 29,417 747 1,016 15,632 7,280 632 994 207 31,945 747 1,016 15,632 7,280 632 994 207 67,450 76,794 144,244 10 Annaghamore Parish Church Notes to the Financial Statements (conlinuedj Year ended 31 December 2023 Costs of raising donations and legacies (conllnued) Unrestricted Funds Restricted Total Funds Funds 2022 Rates & water Light & heat Repairs & maintenance Insurance Telephone Stationery Youth club fund Rectory expenses Diocesan Assessment Printing, Church envelopes & magazine Sunday School.. Prizes & materials Gifts & Gratuities RCB Covenant Administrative Charges Other - general fund Cleaning Small equipment purchase5 Other- Building Fund Mission expenditure Burial costs Catering costs Bowling club expenditure 1,346 10,029 1,346 14,106 4,165 4.500 526 1,613 4,078 4,165 4,500 526 1,613 4,200 57,366 300 670 850 934 3.107 4,200 57,366 300 670 850 934 22,604 1,000 409 382 7,715 699 19,498 1,000 409 382 7,715 699 105 107 80,941 42,551 123,492 Independent examination fees 2023 2022 Fees payable to the independent examiner for= Independent examination of the financial statements 720 550 11 Annaghamore Parish Church Notes to the Financial Statements (conllnued) Year ended 31 December 2023 Tangible fixed assets Fixtures and fittings Cost At 1 January 2023 Additions 1,158,407 39,597 At 31 December 2023 1,198,004 Depreciation At 1 January 2023 and 31 December 2023 Carrying amount At 31 December 2023 1,198,004 At 31 December 2022 1,158,407 Tangible fixed assets held at valuation The church owns the premises at 54 Moss Road, Portadown, Craigavon, County Armagh, BT62 1NB. Prior to 2016 the church has not prepared a Statement of Financial Position, so details of costing are not available for that period. The property is insured with Arthur J Gallaghers as follows.. Church building plus contents Church Hall building plus contents Rectory plus contents £2,514.786 £2.249,910 £454.389 c￿ditors. amounts falling due wlthin one year 2023 2022 Bank loans and overdrafts 30,881 69,222 10. Creditors: amounts falling due after more than one year 2023 2022 Bank loans and overdrafts 301.550 294,088 12 Annaghamore Parish Church Notes to the Financial Statements (continuedj Year ended 31 December 2023 11. Analysis of charitable funds UnrestriGted funds At1Jan23 Income Expenditure At 31 Dec 23 General funds 335,565 107,917 (67,450) 376,032 At1Jan22 Income Expenditure At 31 Dec 22 General funds 306,181 110,325 {80.941) 335,565 Restricted funds At1Jan23 Income Expenditure At 31 Dec 23 Restricted Funds 776,319 83,881 (76,794) 783,406 At1Jan22 Income Expendrture At 31 Dec 22 Restricted Funds 745,314 73,556 (42,551) 776,319 13