ReiptS and Payments Account for the year ended 31 December 2022 Unrestritted Funds 202L Restricted Funds 2021 Endowrnent Funds 2022 Totsl 2022 Total 2021 Recel Donations & Plate collection Proceeds from Fund Raising Events Legacies Charity Collections Bank & Deposit interest Investment income Rental of premises Churchy3rd Receipts Grnnts Other Receipts 30,779.42 4,993.11 2,426.00 33,205.42 4,993.11 32,320.84 953.79 2,133.63 86.26 354.04 840.00 4,445.00 2,133.63 139.73 354.04 840.00 4,445.00 1,183.50 143.08 345.48 350.00 4,175.00 2,585.00 7.612.10 38.82 14.65 6,824.02 6.824.02 Total Recei ts 50,455.48 2,464.82 14.65 52,934.95 49,698.79 Pa Wages and Salarie5 Diocesan Costs/Assessment Church Running C05ts Glebe Costs Glebe Land Costs Parish Centre Costs Primary School Costs Administration Costs Fundraising Costs Charitable Donations 1,680.00 20,537.86 9,310,55 8,685.90 1,680.00 20,537.86 9,310.55 8,685.90 2,120.00 20,160.92 10,649.90 8,347.20 1.243.64 8,411.98 2,195.12 1,243.64 8,987.25 2,226.52 1,572.06 7,554.96 2,378.75 135.24 982.00 575.27 31.40 3,777.20 3,777.20 Total Pa ments 55.842.25 606.67 56,448.92 53,901.03 Excess of Payments over Receipts for the year before transfers -5,386.77 1,858.15 14.65 -3,513.97 4,202.24 Transfers Excess of Payments over Receipts for the year -5.386.77 IA58.15 14.65 -3,513.97 4,202.24 On Behalf of the Trustees Mr5 Louise 5ilvey Mrs Sandra 5mlth Date: L I, lis
Statement of A55ets and Liabilitles as at 31 December 2022 Unrestricted Funds 2022 Restricted Funds 2022 Endowment Funds 2022 Totsl 2022 Cash Funds Current Accounts 54,995.92 3.584.24 27,237.64 3021.88 58.580.16 36,968.03 95,548.19 Deposlt Accounts Total Cash Funds 9,730.39 9,730.39 54,995.92 Investment Assets Equity Investments Other Listed Investments Investments in RCB/ CIT Unit Trusts Other unlisted investments Investment Properties Total Investment Assets 36.032.85 36.0325 2.448.94 2,448.94 38,481.79 34.481.79 A%sets retained for the Parish's ovm use Glebe House Primary School Glebe Land Total Assets retained for the Parish's own use 200.000.1)O 80,000.00 30,(N)O.00 310.000.00 200,000.IXI 80,000.00 30,000.00 310.000.00 On Behalf of the Trustees MTS Louise Silvey Mrs Sandra Smlth 3cThr4 Date:
Notes to the financial statements for the year ended 31 December 2022 l. Accounting pollcles Set out below are the principal accounting policies which have been adopted in the compilation of the Receipts and Payments Account and the Statement of Assets and Liabilities (al Receipts and Payments Account All items of income and expenditure included within the Receipts and Payments Account have been accoijnted for on a cash receipts basis. (bl Statement of Assets and Liabilities li) Assets retoinedfor the Parlsh's own use The assets of the Parish, retained for its own use comprise:_ Church Building and Graveyard Parish Centre Glebe House Primary School Glebe Land The Church Building and Graveyard are deemed to be Heritage a$5ets as defined by the Charities SORP IFR51021 These Heritage assets are not included in the 5tstement of assets and liabilities as information on the cost or valuation is not available and such information cannot be obtained at a cost commensurdte with the benefit to the user5 Of the aecounts and to the parish. The Parish Centre was acquired in 1917, There are no reliable records of the c05t of this construction/ acquisition and valuation approaeh for such a building lacks sufficient reliability. As a result this building is not recognised in the parish statement of assets and liabilities. The Glebe House is recognised at deemed cost, which the Select Vestry deem to represent the estimated fair value of the property at l January 2016. No depreciation ha5 been provided on the glebe house as the current estimated residual value is not less than its carrying value and the remaining useful Ilfe currently exceeds 50 years. The Primary School was acquired in 2012 and is recognised at cost, which the Select Vestry deem to represent the estimated fair value of the property at l January 2016. No depreciation ha5 been provided on the primary school as the current estimated residual value 15 not le55 than it5 Carrying value and the remaining useful life currently exceed5 50 years, The Glebe Land has been estimated at the current market rate for agricultural land of £10,000 per acre. li) Investments Fixed asset investments comprising investment properties, investments in equities (ordinary shares) and investment in RCB/CIT Unit Trusts are initially recorded at cost and are then subsequently stated at fair value at each year end date. Investments in unquoted investments are recorded at cost and are assessed annually for impairment.
Notes to the financial statements for the year ended 31 December 2022 (continued) Reconciliation of Cash Funds Total Cash Funds at Beginning of the year Receipts for the Year Payments for the Year Total Cash Funds at end of the 99,062.16 52.934.95 156,448.92} 95,548,19 year 3. Movement In Funds Atljan 2022 Incoming Resources Outgoing Resources At310ec 2022 Transfers Endowmentfunds Historical Bequests & Legacies 9,715.74 14.65 -0.00 0.00 9,730.39 9,715.74 14.65 -0.00 9,730.39 Restrirted funds Repair Fund Primary School Account 30,972.82 3,990,91 2,264.82 200.00 -0.00 -606,67 -6,000.00 0.00 27,237.64 3,584.24 34,963.73 2,464.82 -606.67 -6,(JOO.00 30,821.88 Unrestricted funds General Fund 54,382.69 50,455.48 -55.842.25 6.000.00 54.995.92 54.382.69 50.455.48 -55.842.25 6.000.00 54.995.92 Total funds 99,062.16 52,934.95 -56.448.92 95.548.19 Pur oses of Endowment Funds To provide income in the form of interest which is reinvested for use at the discretion of the trustees. Pur oses of Restricted Funds Repair Fund: The purpose of this account is forthe maintenance and renewol of the church property. Primary School Account: The purpose of this account for the maintenance and renewal of the old primary school property. Pur 05es of De51 nated Funds General Fund: This fund covers all expenditure and receipt transactions except for those which require separate fund accounting. This fund is to assist with all area5 of the Church Life alongside the maintenance and upkeep of all the Church Assets. 10
Notes to the financial ststements for the year ended 31 Decernber 2022 (continued) 4. Collections for Third Parties 2022 2021 G.F.S Missions Leprosy Mission N.1 Children Hospice R.B.L Poppy Appeal Christain Aid Hospice Sunday 171.30 0.00 404.43 93.50 763.00 230.00 471.40 0.00 196.50 353.00 39.00 85.00 510.00 0.00 rtd 2 Benburb Boys Brigade 2,133.63 1.183.50 4A. Charity Allocatlons from Church Funds 2.57 151.50 This is a sum allocated by the Trustees to the above various collections for third pa rties. All payments out had not been completed by the year end. 4B. Charity Allocations from Church Funds 1.601.00 This is a sum allocated annually by the Trustees to 5UPPOrt a number of charities not included in Collections for third parties. The above amounts have been in¢luded in Receipts forthe Year under'charity Collections" and in Payments forthe year under'charitable donations- 5. Grants 2022 2021 Co-operation North Mid Ulster Council 2.385.00 200.00 2,585.IXI The above grants were received to purchase equipment for the church, the Cost of this equipment has been included in payments forthe year under'church Running Costs" 11
Notes to the financial statements for the year ended 31 December 2022 (continued) 6. Transactions wlth the Trustees The parish paid expenses of £2,773 relating to the running costs of the glebe house which is occupied by the rector. Mr David Walker, trustee, received a payment of £1,000 in respect of churchyard maintenance expenses. This has been included in payments forthe year under"Wages & Salaries" The Glebe land was let during the yearto MrAndrew Robinson, a trustee's son. The parish received a conacre of £350. 7. Governance Costs There were no governance Costs incurred during the year. 12