CHARITY REGISTRATION NUMBER: 104296 Annaghamore Parish Church Unaudited Financial Statements 31 December 2024 FEB CHARTERED ACCOUNTANTS Chartered Accountants Linenhall Exchange 1 st Floor, 26 Linenhall Street Belfast Northern Ireland BT2 8BG Annaghamore Parish Church Financial Ststements Year ended 31 December 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 15 Annaghamore Parish Church Trustees. Annual Report Year ended 31 December 2024 The trustees present their report and the unaudited financial statements of the club charity for the year ended 31 December 2024. Reference and administrative details Registered charity name Annaghamore Parish Church Charity registration number 104296 Principal office 54 Mos5 Road Portadown Craigavon County Armagh BT62 1NB The trustees Gareth Boyd Alan Elliott Rev Dorothy Dunwoody Brian Matchett David Parker Neville Woods Stephen Watt May Woods Gareth Anderson Colin Williamson Alistair Jackson Alan Ogilby David Mooney Hilarly Mayblury Mervyn Redmond Natalie Campbell Sarah Millar stephen Gray Independent examiner Michael Flannigan FEB Chartered Accountants Linenhall Exchange 1 st Floor, 26 Linenhall Street Belfast Northern Ireland BT2 8BG Annaghamore Parish Church Trustoes. Annual Rtport fc(bthu Year ended 31 Decèmber 2024 The Iru8tees' annu81 report wa5 approved on ID.*&W..¥i.¥.. and $i￿ed on behalf of the board ol trutstees by.. IJc)Y¢kny S AJaTr Elllott Treasurer Rev Dorothy Dunwoody ReLtor Annaghamore Parish Church Independent Examiner's Report to the Trustees of Annaghamore Parish Church Year ended 31 December 2024 I report to the trustees on my examination of the financial statements of Annaghamore Parish Church ('the club charity'l for the year ended 31 December 2024. 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 {Northern Ireland) 2008 (the '2008 Act'}- You are satisfied that your club charity is not required by charity law to be audited 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 Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act. Independent examinerfs ststement 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 respect.. accounting records were not kept as required by with section 63 of the 2008 Act. or the financial statements do not accord with those records. or the financial statements do not comply with the accounting requirements of the 2008 Act., or the financial statements do not comply with the applicable requirements concerning the form 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 fair, view which is not a matter considered as part of an independent examination. I confimi that there are no other matters to which your attention should be drawn to enable a proper understsnding of the accounts to be reached. Julie Sexton FCA Independent Examiner FEB Chartered Accountants Linenhall Exchange 1 st Floor, 26 Linenhall Street Belfast Northern Ireland BT2 8BG Annaghamore Parish Church Statement of Financial Activities Year ended 31 December 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Donations and legacies Investment income 113.200 87,662 200,862 191,794 Total income 113,200 87,665 200,865 191,798 Expenditure Expenditure on raising funds: Costs of raising donations and legacies Total expenditure 82,464 59,502 141,966 144,244 82,464 59,502 141,966 144,244 Net income and net movement in funds 30,736 28,163 58,899 47,554 Reconciliation of funds Total funds brought forward Total funds carried forward 376,032 783,406 1,159,438 1,218,337 1,111,884 406,768 811,569 1,159,438 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 form part of these financial statements. Annaghamore Parish Church statement of Flnancial posltlon 31 December 2024 2024 2023 Flxed asset$ Tangible fixed assels 1,198,004 1,198,004 Currenl assets Cash at bank and In h8nd 320,181 293,865 Creditors: amounts fdling du• wlthin onff year Net ¢urrwrt ass•ts 32.S48 287,633 1.485.637 30,881 262,984 1.460,988 Total ass•ts less curr•nt liabili1*¥ Cr•dltOT5: amounts fallln9 due hwe than we year Net assets 11 267,335 301,55D 1,218,302 1.159,438 Funds of th• Charity Restricted funds Unreslrlcled fiJnd8 811,569 406,768 12 1.218,337 783,406 376,032 1,159,438 Total charily fvnds nancial 8tatements were approved by the board of trustees and authorised for issue on 2$8nd are 81oned on behalf of Ihe bowd by.. S DuY•Utsts4y Rev Dorothy Dunwoody Rector Alan Elllott Treasurer The not•s on pag•s 8 to 1J prt of thes• financlal statem•nts. Annaghamore Parish Church Notes to the Financial Statements Year ended 31 December 2024 General information The club charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is 54 Moss Road, Portadown, Craigavon, County Armagh, BT62 1 NB. 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 currency 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, estimates 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 transactions 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 gains or losses being taken to the statement of financial activities. 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 2024 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity,. it 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 supply of serVI￿S is recognised with the delivery of the contracted service. This is classified as unrestricted funds unles5 there is a contractual requirement for it lo be spent on a particular purpose and returned if 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 cannot 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 charity 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 activities. 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 befween the activities they contribute to on a reasonable. justifiable and conslstent basis. Tangible assets Tangible assets are initially recorded atcost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequenl accumulated impairment losses. Annaghamore Parish Church Notes to the Financial Statements (continued) Year ended 31 December 2024 Accounting policies (continued) Tangible assets (continued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised 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 activilies. 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 recognised gains and losses on the statement of financial activities. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 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 & charity boxes Mission income Funeral l Burial donations Wedding Funeral catering donations Bowling Club income Youth Club Fund Raising Parish income 41,573 27,079 1,693 24,760 15,835 41,573 27,079 1,693 24,760 15,835 2.260 2,260 1,260 31,198 21,536 17,545 125 5,251 2,078 3,970 479 90 600 3,530 1,260 31,198 21,536 17,545 125 5,251 2,078 3,970 479 90 600 3,530 113,200 87,662 200,862 Annaghamore Parish Church Notes to the Financial Statements (continued) Year ended 31 December 2024 Donations and legacies (continued) 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 & charity 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 Investment income Restricted Total Funds Funds 2024 Restricted Total Funds Funds 2023 Bank interest receivable Annaghamore Parish Church Notes to the Financial Statements (continued) Year ended 31 December 2024 Costs of raising donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Rates & water Light & heat Repairs & maintenance Insurance Telephone stationery other- youth club fund Rectory expenses Diocesan Assessment Sunday School.. Prizes & materials Gifts & Gratuities other- general fund Cleaning Small equipment purchases other- Building Fund Mission expenditure Burial costs Catering costs Bowling club expenditure 1,464 8,479 1,464 13,322 5,752 5,333 652 1,439 470 4,000 62,788 845 1,654 32,813 326 479 4,843 5,752 5,333 652 1,439 470 4,000 62,788 845 1,654 1,143 31,671 326 479 8,880 1,183 410 156 8,880 1,183 410 156 82,464 59,502 141,966 10 Annaghamore Parish Church Notes to the Financial Ststements (continued) Year ended 31 December 2024 Costs of raising donations and legacies (continued) Unrestricted Funds Restricted Total Funds Funds 2023 Rates & water Light & heat Repairs & maintenance Insurance Telephone Stationery Other- youth club fund Rectory expenses Diocesan Assessment Sunday School.. Prizes & materials Gifts & Gratuities 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 45,269 615 1,465 31,945 747 1,016 15,632 7,280 632 994 207 4,793 10,669 4,967 593 1,824 440 4,200 45,269 615 1,465 2,528 29,417 747 1,016 15,632 7,280 632 994 207 67,450 76,794 144,244 11 Annaghamore Parish Church Notes to the Financial Statements (contlnued) Year ended 31 December 2024 Independent examination fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statements 720 720 Tangible fixed assets Fixtures and fittings Cost At 1 January 2024 and 31 December 2024 Depreciation At 1 January 2024 and 31 December 2024 Carrying amount At 31 December 2024 1,198,004 1,198,004 At 31 December 2023 1,198,004 Tangible fixed assets held at valuation The church owns the premises at 54 Moss Road, Portadown, Craigavon, County Armagh, BT62 1 NB. Prior to 2016 the church has not prepared a Statement of Financial Position, so details of costing are not available for that period. The propety is insured with Arthur J Gallaghers as follows.. £2,640,525 £2,362,406 £477,108 Church building plus contents Church Hall building plus contents Rectory plus contents 10. Creditors: amounts falling due within one year 2024 2023 Bank loans and overdrafts 32,548 30,881 11. Creditors: amounts falling due after more than one year 2024 2023 Bank loans and overdrafts 267,335 301,550 12 Annaghamore Parish Church Notes to the Financial Statements (continued) Year ended 31 December 2024 12. Analysis of charitable funds Unrestricted funds At 1 Jan 2024 At Income Expenditure 31 Dec 2024 General funds 376,032 113,200 (82,464} 406,768 At 1 Jan 2023 At Income Expenditure 31 Dec 2023 General funds 335,565 107,917 (67,450) 376,032 Restricted funds At 1 Jan 2024 At Income Expenditure 31 Dec 2024 Restricted Funds 783,406 87,665 {59,502) 811,569 At 1 Jan 2023 At Income Expenditure 31 Dec 2023 Restricted Funds 776,319 83,881 (76,7941 783,406 13