Loughgilly Parish Church Trustees, Annual report and Statement of Receipts and Payments and Assets and Liabilities For the year ended 31 December 2023 IF Charities Number: NIC104301
Loughgilly Parish Church Annual report and financial statements for the year ended 31 December 2023 Contents Pages References and administrative details of the Charity Trustees, report Independent Examiners Report to thc Trustees Receipts and payments account Statement of assets and liabilities Notes to the financial statements 9- 11
Loughgilly Parish Church References and administrative details Charity Name: Charity Registration Number: Contact Address: Loughgilly Parish NIC104301 115 Gosford Road, Loughgilly, Armagh, B T60 2DS Trustees R¢vd Graham Spence Mr Philip Rea Mr William Moore Mrs Doris Hamilton Mr Norman Liggett Mr Colin Brown Mrs Jill Carson Mr Andrew Mcconnell Mr David McIlroy Mr Keith Cummins Mrs Irene Cummins Mr Will Glendinning Mr Joseph Lockhart Mrs Yvonne Moore Mr Donovan Robb Mr Houston Dillon Principal oifiee-bearers Rector: Rector's Church Warden: People's Church Warden: Church Treasurer: Church Secretary: Revd Graham Spence Mr William Moore Mr Houston Dillon Mr Philip Rea Mr Doris Hamilton Independent Examiner JDMR Limited Chartered Accountants & Registered Auditors 16 Church Street Dungannon Co Tyrone Principal Bankers Danske Bank POBOX 183 Donegall Square West Belfast BTI 6JS I |Page
Trustees, Annual Report for the year ended 31 December 2023 The trustees present the annual report and statements of Rec¢ipts and Payments and Assets and Liabilities for Loughgilly Parish Church for the year ended 31 December 2023. Objectives and Activities The charitable purposc of the Church of Ireland is the advancement of religion. The principal fvnction of Loughgilly Parish Church is to support the advancement of the Christian religion by promoting, through the work of Loughgilly Parish Church the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Being open to and engaging with society as a whole and offering support for those needing help are fundam¢ntal to the practical delivery of the benefits of Christianity. As a result of activity in the pursuit of the advancement of the Christian religion, Loughgilly Parish Church has custody of property and of records, materials and artefacts of significance to the cultural and religious heritage and maintenance of which is undertaken by the select vestry of Loughgilly Parish Church. Achievements, Performance & Public Benefit Loughgilly Parish has weekly Services on Sunday mornings comprising of a mix of Holy Communion, Family Service/ Baptism and Morning Prayer together with various other special services during th¢ year e.g. Holy Week services, Harvest Thanksgiving services and Christmas Carol services. Pastoral care is also provided. There is also a thriving Sunday school. 21Page
Trustees, Annual Report for the year ended 31 December 2023 (eontinued) Achievements, Perfonnance & Public Benefit (continued) Loughgilly Parish Church is part of a group along with Acton and Drumbanagher Parish Churches. The Rector of the Group is the R¢verend Graham Spence. One member of the Parish serves on the Board of Governors of Mountnorris Primary School and supports and encourages the work of the school. The activities outlined above demonstrate how Loughgilly Parish Church continues to implement its charitsble purposes (i.e. the advancement of religion) and meets the Public benefit requirement. Ben¢fits to members of the public include contributing to spiritual well-b¢ing of participants and the reinforcement of Christian values. Loughgilly Parish Church has mitigated any potential harni from the activities through the implementation of the Church of Ireland policy on Safeguarding Trust. The Parish has 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 achieve the Parish s objectives and activities, as well as providing public benefit. Financial Review The principal source of income of Loughgilly Parish Church continues to be from Donations and Plate Collections. The principal expense of Loughgilly Parish Church is in respect of payments regarding Diocesan Costs/Assessment and glebe / rectory expenses. Loughgilly Parish Church had an deficit of receipts over payments before other gains of £8,497.71 for the year ended 31 December 2023. Loughgilly Parish Church continues to be in a healthy financial state as at 31 December 2023 with total cash funds of £56,868.64. Loughgilly Parish Church aims to retain sufficient reserves to meet its expccted future expenditure requirements as well as potential fvture capital projects. 31Page
Trustees, Annual Report for the year ended 31 December 2023 (continued) Strueture, Governance and Management Going Concern The trustees have reviewed its planned exp¢nditure for the year ahead and are satisfI¢d that thcre are adequate funds in place to ensur¢ 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. Governing Document and Conslilulion of the Charity Chapter III of the Constitution of the Church of Ireland governs Parishes and Parochial Organisation. The Select Vestry members arc the Charity Trustees. Reeruitmenl andAppoinlmenl ofselecl Vestry (Trustees) All members of the Church of Ireland who are over thc 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 Vesty is elected as part of this General Vesty 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 Siructure The Select Vesty is responsible for the day to day management of the Parish. The Select Vesty consists of the Rector, the Churchwardens, the People's Glebewarden and generally not more than twelve other members of the general vestry. The Select Vestry is chaired by the Rector or other member of the clergy otTiciating 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. 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. Compliance wilh Public Benefil The Parish has given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the actives entered into during the year have helped to achieve the Parish's objectives and activities, as well as providing public benefit. 41Page
Trustees, Annual Report for the year ended 31 December 2023 (continued) Statement of Tru5tees' Responsibilitics The trustees arc responsible for preparinu) tlie Trustees Report and the statement of rcceipts and paymenls and statement of assets and liabilities in accordance w'ith applieable law and rcgulations. The law applicable to charities in Northern Ireland with Income of less than £250.000 requires the trustees to prepare a statement of Tcceipts and payments and a statement of assets and liabilities tor each financial year. The trustees are responsible for keeping accounting records thal are sufficient to show and exp12in the Parish's transactions and disclose wilh reasonable accuracy ai any time the asseis and liabililies of the Parish. They are also responsible for safeguarding ihe assets of ihe Parish and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitie5. Signed Behalf of the Trustees IL Mr Philip Rea Treasurer Mrs Doris Hamilton Secretary
Independent Examiners Report to the Trustees of Loughgilly Parish Church Res ective res onsibilities of the trustees and examiner The charity's trustees responsibility for the preparation of the trustees report and the accounts, as set out on pages 2 to I I, in accordance with applicable North¢rn Irish law and th¢ accounting standards issued by the Accounting Standards Board and published by The Institute of Chartered Accountants in Ireland (Generally Accepted Accounting Practice in Northern Ireland) are set out in the Statement of Trustees, R¢spoDsibilities on page 5. The charity's trustees consider that an audit is not required for this y¢ar but have requested that an independent examination be carried out. It is my responsibility to: Examine the accounts To follow the procedures laid down in the gencral directions given by the terms of our engagement and To state whether particular matters have come to my attention. This report, including the statement, has been prepared for and only for the charity's trustees as a body in accordance with the temis of our engagement and for no other purpose. We do not, in giving this statement, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save wher¢ expressly agreed by our prior consent in writing. Basis of inde endent examiner's statement My examination was carried out in accordance with general directions given by the tenns of our engagement. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented within those records. It also includes consideration of any unusual items or disclosures within th¢ accounts, and s¢¢king explanations from th¢ trust¢¢s concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts provide a 'true and fair, view and the report is limited to those matters set out in the statement below. Inde endent examiner's statement In connection with my examination of the financial statements for the year ended 31 December 2023, no matter has come to my attention which gives me reasonable cause to believe that, in any material respect, the requirements: to keep accounting records to prepare accounts which accord with the accounting records and comply with accounting requirements have not been met 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of th¢ accounts to be reached. Jonathan Ruddell For JDMR Limited Chartered Accountants & Registered Auditors Dungannon June 2024 61Page
Receipts and Payments Account for the year ended 31 Deeember 2023 Unresirieted Designaled Re5trirted fund5 funds funds 2023 2023 2023 Tot&1 Total funds 2022 2023 Receipis Donaiinn3 & plaic colleclioiis Proceeds from Fuiid Raisingr r.vcnis Bank & Deposit intercsl Invcslmeni income Renial of preinises Other Receipts Receip15 fmm Parish Organisaiiu115 Total Receipts ?5.010.71 341.00 25.351.71 30.617.Oi 139.97 143.69 3.058.21 1.029.00 117.50 257.47 123.73 143.69 146.41 3,058.21 3.480.04 1:029.00 17.421.07 29,381.58 117.50 341.110 29,840.08 51,788.30 PaJ'meii¢s Diocesan cosiASssm<Iit Church & Hall Runningi Costs GlebelReciory Costs Adrninislraiive Costs FundraisinLI Cost5 Charilable Donations her Tolal Payments 22,425.49 8.457.29 5,530.00 764.41 22,425.49 20.974.06 8.457.29 7,529.92 5.530.00 6,241.52 764.41 755.32 559.00 260. 37.996.79 341.00 900.00 1.100.OQ 60.6 290. 341.00 38J37.79 36,891.22 Excejs of re¢eipt$ over paym¢nts befort transfer (8,615.21) 117.50 (8,497.71} 14,897.08 Transfers Gross transfers between funds- in 117.50 117.50 7.50 Gross transfers between funds- oui 7.50 117. Excess of reeeipts ovtr payments before other gain$ 14 897.0 On Beh41fof the Trustees c¢i£ C C,. Mr Philip Rea Treasurer Mrs Doris Hamilton Secretary
Statement of Assets and Liabilities as at 31 December 2023 Unrestricled Designated Restricted Fund5 Funds Funds 2023 2023 2Q23 Total 2023 Total 2022 Cash Funds Danskc No l Accouni Saniander Botb£fs Danske Sunday School Danske - Olive Walker Bequest TotPdl Cash Funds 51,226.25 51,226.25 59,848.12 642.39 5,000.00 56,868.64 518.23 5,000.00 6$J66.35 5.000.00 ?.000.OiTr 51,868.64 lTrvestmcnt Assets Glebe LandslFannland RCB Investments coi rTUStees Investments Other Lisied Inv¢sthien15 Total Investment Asstts 101,131.00 19,064.00 2.079.02 101.131.00 101,131.00 19,064.00 18.506.00 2,079.02 1,986.94 12U74.02 122,27&02 121,623.94 Assets retsin¢d for Ihe Parish's own use Glebe Hise/Re¢l0ry Fixtures and Fittings Totsl A55ets retained for the Pgrlshgs own Mse 150.000.00 150.(N)O.00 150.W.00 150.000.1i0 150,0ft0.00 150.000.00 Tot81 Assets 324,142.66 5,000.00 329.142.66 336.990a9 On Behalf of the Trustees Mr Philip Rea Treasurer Mrs Doris Hamilton Secretary
Notes to the financial statements for the year ended 31 December 2023 l. Accounting policies Set out below are the principal accounting policies which have been adopted in the compilation of the Rec¢ipts and Payments Account and the Statement of Assets and Liabilities (a) Receipts and Payments Account All it¢ms of income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basis. (b) Statement of Assets and Liabilities (i) Assets retainedfor the Parish's own use The assets of the Parish, retsined for its own use comprise:_ Church Building and Graveyard Church Hall Gleb¢ House/Rectory Fixtures and fittings The Church Building and Graveyard are deemed to be Heritage assets as defined by the Charities SORP (FRS102). These Heritage assets are not included in the statement of assets and liabilities as infonnation 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 Church Hall is physically attached to the graveyard wal l and as such is not separable as an individual asset. As such it is deemed to be a Heritage asset and no value is ascrÉb¢d to it in the statement of assets and liabilities. The Glebe Hous¢/Rectory is recognised at the estimated net realisable value of the property. No depreciation has been provided on the glebe houselrectory 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. Thc church has set a minimum threshold of cost for an item of £500 for it to be considered to be capitalised as a fixed asset. ii) Investments Fixed asset investments comprising Glebe LandslFarmland, Representative Church Body (RCB) Investments, Church of Ireland (COI) Trustees Investments and Other Listed Investments are initially recorded at cost and are then subsequently stated at fair value at each year end date. 91Page
sl Notes to the financial statements for the year ended 31 December 2023 (continued) 2. Reconciliation of Cash Funds Total Cash Funds at Beginning of the year Receipts for the Year Payments for the Year Totsl Cash Funds at end of the year 65,366.35 29,840.08 (38,337.79) £56,868.64 3. Movement in Funds AtlJan 2023 Incoming Resources Outgoing Resources Investment Gainl{Loss) At 31 Dee 2023 Transfers Designated funds Danske- Olive Il'a]ker bequest 5,000.00 5,000.00 117.50 117.50 (117.50) 1117.50 5.000.00 5,000.00 Restriet¢d fuMd5 Unrestrieted funds Danske No l Account Dat]5ke Sunday School A.C 59.848.12 518.23 60,366.35 29,715.92 6.66 29,722.58 38,337.79 51,226.25 642.39 51,868.64 117.50 117.50 38,337.79 Total funds 65,366.35 29,840.08 38,337.79 56,868.64 4. Collections for Third Parties Bishops Appeal Re Ukraine Royal British Legion 300.00 41.00 341 The above amounts have been included in Receipts for the Year under "Donations & plate collections" The full amount of £600.00 was paid out during the year and has becn included in Payments for the year under'charitable Donations" IOIPag¢
Notes to the finaneial statements for the year ended 31 December 2023 (continued) 5. Transactions with the Trustees The parish paid expenses of £5,530.00 during the year relating to the rnnning costs of the gl¢be houselrectory which is occupied by the rector during the period of the rector's occupancy of it. 6. Governance Costs Governance costs of £660.00 were incurred during the ycar which solely relate to fees paid to the independent examiner. Governance costs are included within Administrative Costs in the Receipts and Payments Accounts.