Receipt5 and Payments Account for the year ended 31 December 2023 unrestric Restricted Funds Funds 2023 2023 Endowment Fund5 2023 Total 2023 Total 2022 Recei Donations & Plate collection Proceeds from Fund Raising Events Legacies Charity Collections Bank & Deposit interest Investment income Rental of premises Churchyard Receipts Grants Other Receipts 28,203.10 8,458.10 4,011.50 32,099.60 8,458.10 33,205.42 4,993.11 2,471.81 120.05 364.08 1,085.00 5,355.00 10,083.00 6,465.01 2,586.81 552.51 364.08 1,085.00 5,355.00 10,083.00 6,465.01 2,133.63 139.73 354.04 840.00 4,445.00 359.48 72.98 6,824.02 Total Recei 62,605.15 4,370.98 72.98 67,049.11 52,934.95 Pa ments Wages and Salaries Diocesan Costs/Assessment Church Running Costs Glebe Costs Glebe Land Costs Parish Centre Costs Primary School Costs Administration Costs Fundraising Costs Charitable Donations 2.590.00 19.984.68 6,169.38 5,715.41 2.590.00 19,984.68 6,169.38 5,715.41 1,680.00 20,537.86 9,310.55 8,685.90 1.434.38 956.65 1,177.06 11.029.63 3,348.60 1,434.38 1,206.74 1,207.31 11,029.63 3.348.60 1,243.64 8.987.25 2,226.52 250.09 30.25 3,777.20 Total Pa ments 52.405.79 280.34 52.686.13 56,448.92 Surplus of Receipts over Payments for the year before transfers 10.199.36 4,090.64 72.98 14,362.98 -3,513.97 Transfers Surplus of Receipts over Payments for the year 10,199.36 4,090.64 72.98 14.362.98 -3.513.97 On Behalf of the Trustees Mrs Louise Silvey Mrs Sandra Smtth Date.. Is I,. I
Statement of Assets and Liabilities as at 31 December 2023 Unrestrlrted Funds 2023 Restrirted Funds 2023 Endowment Funds 2023 Total 2023 Cash Funds Current Accounts Deposit Accounts Total Cash Funds 65,195.28 3.303.90 31.608.62 34.912.52 68,499.18 41,411.99 109,911.07 9.803.37 9.803.37 65,195.28 Investment Assets Equity Investments Other Listed Investments Investments in RCB / CIT Unit Trusts Other unlisted investments Investment Properties Total Investment Asset5 37,116.17 37,116.17 2.590.96 2,590.96 39.707.13 39,707.13 Assets retained for the Parish's own use Glebe House Primary School Glebe Land Total Assets retained for the Parish's own use 200,000.1)O 80.000.00 30,000.00 310,000.00 200,000.00 80,000.00 30,000.00 310,000.00 On Behalf of the Trustees Mrs Louise Silvey Mrs Sandra Smith Date: 2s 1% <
Notes to the financial statements for the year ended 31 December 2023 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 (a) Receipt5 and Payments Account All item5 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 Llabilltles li) Assets retainedfor the Parish'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 a55ets as defined by the Charities SORP {FRS1021 These Heritage assets are not included in the statement of assets and liabilities 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 wa5 acquired in 1917. There are no reliable records of the cost of this construction/ acquisition and valuation approach 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 deern to represent the estimated fair value of the property at l January 2016. 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. The Primary School was acquired in 2012 and 15 recognised at cost, which the Selert Vestry deem to represent the estimated fair value of the property at l January 2016. No depreciation has been provided on the primary school as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. The Glebe Land has been estimated at the current market rate for agricultural land of £10,000 per acre. ii) Investment5 Fixed asset investments comprising investment properties, investments in equities {ordinary shares} and investrfjent in RCBICIT Unit Trusts are initially recorded at cost and are then subsequently sraied at falr 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 2023 (continued) Reconclllatlon of Cash Funds Total Cash Funds at Beginning of the year Receipts for the Year Payments for the Year Tolal Cash Funds at end of the year 95,548.19 67.049.11 152,686.13) 109,911.17 Movement in Fund5 Atljan 2023 Incoming Resources Outgoing Resource5 At 310ec 2023 Transfers Endowment funds Historical Bequests & Legacies 9,730.39 72.98 -0.00 0.00 9,803.37 9,730.39 72.98 4).00 0.00 9,803.37 Restrlrted funds Repair Fup.d Primary School Account 27,237.64 3,584.24 4,370.98 0.00 31,608.62 3,303.90 -280.34 0.00 30,821.88 4.370.98 -280.34 0.00 34,912.52 Unrestricted funds General Fund 54,995.92 62,605.15 -52.405.79 0.00 65,195.28 54,995.92 62,605.15 -52.405.79 65.195.28 Total funds 95,548.19 67,049.11 -52,686.13 0.00 109,911.17 Pur 05es 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 Restritted Funds Repair Fund: The purpose of this account is for the maintenance and renewal of the church property. Primary School Account: The purpose of this account for the maintenance and renewal of the old primary school property. Pur oses of Des1 nated Funds General Fund: This fund covers all expenditure and receipt transartion5 except for those which require separate fund accounting. This fund is to a55iSt with all areas of the Church knfe alongside the maintenance and upkeep of all the Church Assets. 10
Notes to the financlal statements for the year ended 31 December 2023 (continued) Collections for Third Parties 2023 2022 G.F.S Missions Ministry Training Fund N.1 Children Hospice R.B.L Poppy Appeal Chri5tain Aid Hospice Sunday 2, Benburb Boy5 Brigade Benburb LOL No.4 126.20 311.60 499.71 240.40 293.50 245.00 458.40 297.00 171.30 0.00 404.43 93.50 763.00 230.00 471.40 0.00 2,471.81 2,133.63 4A. Charity Allocations frorn Church Funds 3.50 151.50 This is a sum allocated by the Trustees to the above variou5 collections for third parties. All payments out had not been completed by the year end. 4B. Charity Allocatlons from Church Funds 1.601.00 This is a sum allocated annually by the Trustees to support a nurnber of charities not included in Collections for third parties. The above amounts have been included in Receipts for the Year under"Charity Collertions" and in Payments for the year under "Charitable donations". 5. Grants 2023 2022 Community Fund Mid Ulster Council Energy Support Scheme 7,383.00 1,500.00 1.200.00 10,083.00 The above grants received from the National Lottery Community Fund and Mid Ulster Council were in relation to our community event organised in November 2023 to cover expenses for our Flower Festival. Santa's Grotto and Christmas tree light switch on, the cost of these events has been included in payments for the year under"Fundraising Costs" 11
Notes to the financial statements for the year ended 31 December 2023 (¢ontlnued} 6. Transactions with the Trustees The parish paid expenses of £1,609 relating to the running costs of the glebe house which was occupied by the former Rector Incumbent. {Vacant from 6 July 2023.} The Parish reimbursed £905.38 to S trustees in respect of minor running cost expenses incurred on behalf of the Parish during the year. Mr David Walker, trustee, received a payment of £1.500 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 Mr Andrew Robinson, a trustee's son. The parish received a conacre of £350. 7. Governance Costs There was no governance costs incurred during the year. 12