sr. Mark's Parisb Chureh Portadown Annual Report and Flnanelal Statements For the year ended 31" December 2023 Charities Number, NIC 104635
Contents Pages General Inform8tion Trustees, report &6 Independent Ex8mlners Report Receipts aDd Payments Account ststemeDt of A$8ets and Liabilltie$ Notes to the Accounts 10-12
Genernl InforniAtlon Charity Name: SL Mark's Parish Church Portadown Charity Registration Number: NIC104635 Contsct Address: The Church Office Fergus Hall Church Street Portadown BT62 3LN Trustees Mrs A Devlin, Mr W Quinn, Mr P Stewar¢ Mr R Henry, Mrs V Coulter, Mr T Flannagan, Mrs A Kennedy. Mr S Guy, Mr K McGuinness. Mr H Simpson, Mr G Wilson, Mr S Topl¢y. Mr P Walker. Mr D Brown, Mrs S Douglas. Ms S Leeman Principal Office-bearers Clergy: Church Treasurer: Church Secretary: Church Warden: Church Warden: Rev William Orr Mrs Ann¢ K¢nn¢dy Ms S L¢¢man Mrs S Douglas Mr D Brown Independent Examiner S D Brown S D Brown and Company Chartered Certified Accountant 25.27 Edward Street Portadown BT62 3NB Bankers Danske Bank 4548 High Street Portadown BT62 1 LB
Trustees Report YeAr Ended 31 December 2023 The trustees present the Annual Re and Statement of Financial Activities for St Mark'8 P&rish Church, Portadown for the year ended 31 December 2023. ObJeetive$ 8nd Aetlvltles The ¢haritable purpose Of The chUh of Ireland is the advancement of religion. The principal funrtion of St Mark's Parish ChurclL Portadown is to support the advancement of the Christian religion by promoting through its work 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 fundamental to the practical delivery of the benefits of Christianity. As a result of this activity in the pursuit of th¥ advancement of the Christian religion, St Mark's Parish Church. Portadown has custody of property and of records. matcrials, and artefacts of significance to the cultural and religious heritage; the maintenance of which is und¢rtaken by St Mark's Parish Church, Portadown. Achievements, Pertorniance and Publlc Benefit Grndually (luring 2023 many of the activities that were restricted during the pandemic have been successfully re-established and it was most encouraging to see an effective community programme during Holy Week and likewise during the Christmas period resulting in & steady incre&8e in participation levcls at church events and publi¢ worship. Finance The Select Vestry, with the generous support of the parishioners continu¢ to seek to establish a sustainable financial fvture for the parish. An increasing number of parishioners are making use of electronic banking services to facilitate their freewill offerings. Managing finance and maintaining Church propety are part of the major resp)nsibilities of the Select Vesty. Connectivity in the church continues to be improved to provide more reliable online ministy. ColDg Concern The trustees have reviewed the budgets for the year ahead and are satisfied that there are adequat¢ funds in pla¢e to ensure 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.
StrnctuN Coverngnce and Management Chapter I I l of the Constitution of the Church of Ireland governs Parfshcs and Parochial OrganisatioL The SelpA Vesty members are the Charity Ttee$. All members of the Church of Ireland who are over the age of18 and are either resident within the lsh or live elsewhere bul have been wcustomed members of the congregation for at least three rnonths, m8y register as members of the general vestry of the parish, allowing Ihem to attend and vote at meeting,s of the general vestry and stand for election to the select vesty. Meetings of the general vestry are held at le&st once a year. The Select Vesty is elected as p8rt of this Geral Vesty meetin8. The SeleA Vestry will hold their positions for period of one year. Select V• members may be rleCted annually and there is no limit on the nvmbff of terms which may be served. Pay Remuneratlon The Rector of St. Mark's Parish reoeiv¢ a ytripend which is pald by the Parish, in a¢cordaLce with figures approved by the General Synod of the Church ol Ireland (OSCI). Details of office and locomotory allowances are also approved by GSCI. The actual payments made by St Mark's Parish towards Stipends are calculated by the Stripends Committee of Arniagh Dlo¢ese based on the size of the church mernbership. Oryanlsatlonydl Structure The Select Vestry is responsible for the day to day management of the pAri$h. The Select Vesty nsists of the member of the clergy serving in the parish, any Curate assistance ('%he curate") ohurchwardens. the glebe wardens gnd 8eneraIly not more than twdve other member8 of the genera] vestry elected at the Annual O¢neral Vestry. The Select Vestry is chaired by the rector or other member of the cler8y OtTiciatin8 tn the parish. S¢lert Vestry members responsible for maklng dc¢lsion3 on matters of general ¢on¢ern and importance to the parish including dcoiding how parfsh funds to be applied. Another irnportant aspe¢t of the work of the vestsy is to ensure cornpllance wlth state and church legi81ation and any rulcs and regulations imposed by Amiagh Dio¢esan Synod. They are also rc8ponsible for the proper conduct of all church 8Ctivltles and that they comply with the new Safe8uarding (3uidclines drawn up by the Church of Ireland in 2018. Adult S&feBuardin8 8uid¢line8 have also been Introduced in 2018. The vesty makes &n annu81 declaration to the diocese that Safeguarding Guide lines are being followed and to ensure wmpliance trainin8 18 arr&n8ed year. A Select Vestry Flandbook is availablc. The Select Vesty rnet regularly during the year to eon$idex a range of important issues relevant to many aspects of Church life, Th¢ duU¢s and responsibilitles of th¢ select v¢sty are detailed in the Constitution of the Church of Ireland and include managin8 the parish finances and the employment of th¢ lay people 8u¢h as the Parish Administrator, Organist, Sexton, Cleaner. Furtherniorc, the vesty provldes th¢ infrastructure which supports worship and minlstry and look5 after the Interlor and exterior of the churth, rectory. cur8te8' houses. Parochial Hall and Fergus Hall.
Compllanee wtth Publi¢ Benefit The P4rish has givffl careful nSideratIon to the Charity Commission for Northern Ireland's guidance on public berit to ensure that thc activiti entered into durin8 the year have helped to hl¢ve the Parish's objective and a¢tiviti4 as well as providing public benefit. Statement of Tru$tees' Responsibllltles 'lThe tNste¢3 ure responsible for preparing the Trust¢¢s' Rep)rt and the statement of Finan¢ial Activities and ststement of Assets and liabilities in ac¢oTdance with applicable law and regulatlons. The trustees are responsibl¢ for keeping acwunting records that are sufficient to ¥how and explain the P]Sh,$ transactions and di8c108e with reasonable accur8¢y at any time the assets and liabilities of the Parish. They are alKJ re¥ponsible for safeguarding the assets orth¢ Parish and hence for taking re}noble steps for the prcvention Rnd dete¢tion of fraud and L)thcr irregularities. Signed on Behalf of the Trustees Tru8tee I Trust¢e 2 Date 171h April 2024
Independent ex2mlner'$ report to the eharity trustees of SL Markls Partsh Church, Portadown. I report on the accounts of the Charity for the year ended 31" December 2023, which are set out on pages 4 to 16. Respective responsibllltles of charlty trustees and examiner As the charity's truste&8 you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. It is rny respoTh8ibility to: Examine the accounts under section 65 of the Charities Act Follow the procedures laid down in the general directions given by the Commission under section 65(9)(b) of the Ch8rities Act State whether particular matters have come to my attention. Basls of Independent exanjlner's report I hav¢ examin your chlty aOUnts as T¢quir¢d under section 65 of the Charities Act and my examin&tion was carried out in accordance with th¢ 8¢n¢ral dIrtiOnS giv¢ by the Charity Commlssion for Northern Ireland under section 65(9Xb) of the Charitie8 Act. My examination included a review of the accounting records kept by the charity and a comparison of the aOuntS presented with those re¢oTd8. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me eAuse to believe: l. That accounting records were not kept in accordance with section 63 of the Charities Act 2. That the accounts do not accord with those accounting records 3, That the Oullts do not comply with the a¢untIng requirements of the Charities Act 4. That there is ftuther inforn]ation needed for o proper understanding of the accounts to be reached. Independent examiner s ststement I have completed my examination and have no concerns in respect of the matters (l) to (4) listed above and, in connection WAth following the Directions of the Charity Commission for Northern IreRand, I have found no ntter$ that require drawing to your attentlon. Name: S.D. Brown For S.D. Brown and Company Relevant professlonal qualifieatlon or body: Chartered Certified Accountant Addrus: 25-27 Edward Street PortAdown BT62 3NE Date: 23° Aprll 2024
SL Mark's Parish Church Portadoivn in ar ended r20 ote Unrestricted Restricted Funds ndowment Fund 2023 02 Incom¢ Donations and Plate Collertions Proceeds from fimd raising events Bank and deposits inlerest Rental Proceeds Investmeni Income Legacies Collection for Third Parties Other ReLeipls Receipts from Parish or8anisAtion8 Totai Income 173,769 10,167 183,936 184,135 1,598 1,598 8,014 452 7.549 33 485 7,549 737 5,850 3,316 13,530 5,810 7,367 5,290 5,000 1,301 8254 5.000 5,759 8,254 11,302 4,458 11,302 197,923 25.960 223,883 234,049 Expenditure Wages and salaries Diocesan Costs /Assessment Church RuTtning Costs Rectory Runnin8 Costs Investment Prop¥rty Costs Admin Costs Charitable OiftslDonations Payments for parish organisations Total Ex iture Net IncomrfExpenditure) Tr8nsfers between fijnds Loss on S8le of Curatage Transferred to St Marks Holdings Lt (Diminution)lincrea8e value of investrnent Surplusl(Deficiiy for year Total Fund8 brought forward Total Funds CArri¢d Fonwd 45,321. 79,836 45,321 79.836 31,503 77,786 47,335 3,164 1.018 19,625 1,951 4,546 2.567 337 51,881 5,731 1,375 19,625 9,313 12,888 51,539 5,068 1,377 16,314 13,017 5,344 7.362 12,888 198,250 {327) 9,720 27,720 {1,760) (9,720) 225,970 (2,087) 201,948 32,101 (23,710) 14 (1,814,948) (1,814,948) (l26268) io 474 474 15,797 66,487 l 17,453 1750 548 235,330 3,461.058 3.696.388 1805 $55 54533 2.403,738 1.039,523 600.183 1,094,056 16,271 1.710,510 3,461,058
SL Mark's Church Portadown ststement of Finan Posi Balance Sh et r 2023 Note 2023 2022 Flxed Assets Tangible Fixed Assets Investments Totsl Flxed Assets 397,953 1057 298 1455,251 2212,901 990811 3,203,712 10 Current A88ets Debtors- Gift Aid Prepayment-Ensurance Loan to St Marks Holdings Ltd Cash and Cash equivalents Total Current Assets Creditors- amounts falling due.within one year Net Current Assets Total Assets less current liabilities Creditors amounts falling due after l year Totsl Net Assets 24,607 9,743 18,000 209 120 261470 (6,21 l J 26,629 9,167 7,000 217 742 260 538 (3,192) 12 11 255 259 1.710.510 257 346 3,461,058 1710 510 3 461058 The Funds of the Parfjsh Unrestricted Funds Restricted Funds Endonent Funds Total Charity Funds 600,182 1,094,057 2,405,738 1,039,523 13 1710 510 3 461058 The notes on pages I I to 21 are an integral part of thase financial statements. The financial statements on pages 4 10 l O were approved by the Board of Truste¢s on 17 April 2024 and signed on its behalf by: Tnjstee I Trustse 2
St. Mark1$ PArfsh Chllh Portgdown Notes to the flnftncial statements for the tar ended 31" December 2023 l. Aecountlryg polltl The principal acUnting policies adopted. judgements end key sourc&s of estimation un¢ort8inty in the preparation olthe finanoial statements are as follows: a). Basts of propAratloD The financial statanents have been prepared on a going concern basi3 in accordance with Ac¢ounling and R¢portin8 by Charities,. Statement of Rewmmended Practice applicable to choriti&s preparing their accounts in accordano¥ with the Financlal Reportln8 Stsnd8Jd applicabl¢ in the UK and RUbliC of Ireland (FRS 102)- (Charitie3 SORP (FRS 102). The Parish rne th¢ definition of a public benefit entity under FRS 102. A38ets and liabilities are initially re¢ognized at historical Cost and transaction value unless otherwise st8ted in the relevant accounting policy note(s). b). PrparatlDn of Aeeountg on a golng Concern bfisls The Parish 8enerally mee1$ its day to doy working capitsl requirernents from its annual income. 1.he Trustee8 have obtained and reviewed cash flow forecasts for the coming year ond ba¥cd on these are satisfied that the Parish has resour¢e8 to provide a reasonable exwclation that it Can continue to meet ils financial obligations as th¢y fall due for the foreseeable futurc. Therefore these finaJJ¢ial st&temenls hav¢ been prepared on a goin8 oncern basis. cl lllcom¢ Collections and Weekly Envelupcs. are accountsd for on a cush receipts basis a8 the amount is collected. Income arislng from the rent81 of Parish Centre facilitie5 to third parties is reco8nized when the pwish has entitlement to the funds, any wfomian¢e conditions attached to the income have been mei it is probable that the income will b¢ received and the amount ¢an be measured r¢li8bly. Income from 8overnment and other 8rant% whether 'capital' grants or'revenue, 8rantS, 15 rtto8nized when the charity ha3 entitlement to the funds any pcrforniance conditions attachcd to the 8r&nts have been met, it is probable that the inwme will be r¢¢eived and the amount can be measured reliably 8nd 1$ not deferred. L¢g&cies are Included wlth Income under either unrestrlcted or restricted funds a¢cordin8 to the tern]s und¢r which the donation is made and when the amount Can be quantified with reasonable Certainty. Donations and gifts in kind are brought into the account5 at their fair value to the Parish. d). Expelldltsr¢ Expenditure is reco8nized On there is a legal or consiruetive obliguiion to mEthe a payment to 8 third party, it is probable that sectlement will be required and the amount olthe obligation can be measured reliably. Irrecovffable VAT is charged as a cost against the aeAivity for which the eXpdItUre v$ incurred. e). Tangtble assets The 8ssets of the Parish Lx)mprise'.- chUh Building Fixtures and fittings Rectory The Chureh Building> is dEcmed to be Heritage assets as defined by the Charities SORP (FRS102) These Heritage assets are not included on the balance sheet as inforn)ation on the cost or valuation is not available and such infonnatton cannot be obtained at a (x)3t conunensurat¢ with the benefit to the users of the aeKounts and to the parisb. io
St. Markgs Pr4rl8h Chureh, Portadoivn Notès to the flnanclal Ststements for the year ended Deeember 2023 (¢ontlnu¢d) l). Ae¢ountiMg pollcles (contlnued) Parish Hall4 iiectory. Curatages and Scout Hall The above assets are stated at a valuation. A professional valuation was Caled out in 2017 as a result of an Insuran asset and risk survey. No depreciation has be¢n provided on th¢5¢ buildin8s a5 the current estirnated residual value 18 not1&4 than its ¢arrying value and the rcmaining u5cful like Cu¢ntIY cxc<eds 50 years. Q. Investments Fixed assets investments comprising investment properti, investments in equities and investment In RCBICIT Unit Trusts are initia]ly recorded at C05t and are then subsequently ststed at fair vue at each balance shett date. Jnvestrnents in unquoted investments are recorded at cost and are assessed annually for Impairment. Unrcalised gains and losse8 represent the difference between the fair value at the beginning and end of the ffft8ncial year or. ifpurchased in the year, the differenee between cost and fair value at thc of the year. Realised galns and losses represent the difference between the proceeds on disposal and the fr value at the start of the year or cost if purchased in thc year. Both rcali5ed and unrealised galns and losses in invastments are report¢d within 'Wet Galnsl(Losses) on Investments" within the Ststement of Fin&n¢ial Activities. g). Cash alld equlv*leats Cash and cash Muivalents includes cash in hanl dep)sits held at call with banks, other short-tern hlghly liquid investments with ori8inal mawrities of three months or less and bank overdrafis. Bank ovcrdrhfts are shown. h). Flnftnel21 lllstruments The Partsh only h&4 flnanclal assets and flnanoial li8bilitiC5 of a kind that qualify a5 ba51c financial instruments. Basic financial instnJment8 are inltially reco8nized at transaction pri¢e and subsequently measured at their settlement value. l}. Funds Funds gre classified as eithcr Tcstrictcd funds or unrestricted funds, defincd as follows. Restrlcted funds are funds subject IQ slfiC requirements as to thekr use which may be declared by the donor or with thelr authorlty or created through legal processes, but still within the wider objeots of the Parish. Endowment funds funds which have been given on the eonditlon that the 0ri8inal capital sum is not reduced, but the illme there from is u8ed for the pur8¢ defined in aOrdanCe with the objects of the parish. li
SL Mark's Parisb Church, Portadown Note to the Flnancial Ststements for the yeAr ended 311t December 2023 (continued) Unrestricted funds are exFKndable at the discretion of the trustees in fLlltherance ofthe objects of the charity. If parts of the unrestricted funds are earniarked at the discretion of the trustees for a particulaT purpose, they are designated as a separate fund. This designation has an administrative purpose only and docs not legally restrict the trustees. discretion to apply the fund. 2. Critical AceountAng Judgments and estlmatlon uneertalnty Estimates and judgments made in the process of preparing the financial statements are continually evaluaied and are based on historical expericnce and other factors. including expectations of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that th¢re are any critical judgments niad¢ in applying the Parish's accounting policies or that there are any critical accounting estimates or &8sumptions which may have a significant risk of causing a matexial adjustment to carrying amounts of assets and liabilities within the next financial year. Donalions and Plate Collections nrestrlct¢d ILtal estrl¢te ndowm Fu Fu]]d$ 2023 23 Tot 20 22 Donations GIvinC011e¢t1Ons Gift Aid 132,197 10,167 162,364 157,307 26,828 184,135 173.769 10,167 183,936 Other Recelpts Bible Notes NIE Rentyl Room Hire Benevolent Fund re¢¢ipts RCB Grant 695 1.889 360 5.164 146 8,254 695 1,889 360 5,164 146 8,254 350 1,891 500 3,116 7,367 12
St Mark?s P4rtsh Church Portadown Notes to the FAnanclal StAtements for the ear ended 31 De¢ember 2023 condnued 5). Church Runnin Costs Unrestrlet Fund8 Rotrleted Fund Endowment ot•[ Total 2022 Church Mainlenance Fergus Hall Maintenance Parochial Hall Malntenance Heat & Light Insurance TelephonelBroadband 4,447 1,830 1,876 1,653 I,l35 1,758 6,100 2,965 3,634 2,397 12,886 I,820 17,682 11,046 1,096 17.682 11.046 1,096 14,112 10,166 47 35 General Healih & Safety Bank Ftts Accounlancy Benevolent Fund cxps 11,16J 327 1,457 2,709 11,165 327 1.457 2.709 10,040 1,078 1,443 2,693 19,625 19,625 16.314 7)._ Charltable GIftIDonAtIo Parochlal Account- ADYC New WiThe ICM Cro8slinks SAMS A Flanagan H Simp80n Ukr&in¢ Reach Mentoring Benevolent Fund Grant Hosplce 1,301 1,301 398 57 1.000 3,410 ,752 3,410 1,752 4,327 3.000 1,200 1.200 400 1.200 41)0 1,525 250 250 2,010 500 62 13
St Mark'8 Parish Church Portadown or em 8). Taxation St Mark'$ Parish Church Portadown 1$ recognized as a charity for the pwpos¢s of applicable t&xation legislation and is thefore not subject to taxation on its cbaritablc activities. 9N Tan Ible Flxed Assets Schedule Costs/lNS ValllelRatabk Value Depn to Date Net Book Value At 31.12.22 Add¢d Trans St Marks Holdlngs Depn ror YeAr Net Book Value at 31.12.23 Parish Halls includin8 Fixtures & Fitting Rectory including Fixturcs & tittin8S Curatage 115 Brovrn5town R08d Seout Hall. Mahon Road Total Tangible Assets 1.105,798 1,105,798 (1,105,798) NEI. 397,953 397,953 397,953 157,270 157270 (157270) NIL 551,880 551,880 (551,880) NIL 2212,901 2,212,901 11,814,948) 397,953 10). Investments Value at 31.12.23 Increase for Valu¢ al 31.12.22 Investment A&8ets RCB Investments 3824 Units of RJI tieneral TTht i) 16,271 474 15.797 Clarke Investment Portfoli08 manageA by Davy Stockbrok 1.041,027 66.013 975,014 £1057298 £66 487 £990 811 I l). Credltors Arnounts Due withln l year 2023 2022 Accruals 6.211 6.211 14
SL Mark's Parish Church Portsdown Notes to the Fimanclal Statement for the ear ended 31 December 2023 St continued 121 Cash 2nd Cash Equlv&lents 31.122023 31.12.2022 43,806 45,932 415 1,919 3,121 3.138 29.163 104,163 80,000 292 3,490 5,133 22,097 Parochial Account Missions & Charities Account Benevolent Fund Bequest A¢Unt B¢quest Fixed Rate Deposit Misses Thornton Account Mothers Union Bequ¢5t Account Organ Fund Account Repair Fund Parish Organisations 292 3,459 5,490 29,871 15
St. Mark's PArl$h Church PortAdown Notes to tbe Financlal Sta¢¢ment for the ear ¢Dded 31 D¢eember 2023 13). FndS of the Parlsh Atl. condnued eo Investmen At 31.12.2023 Re50urce$ EuLurc Reve ers G3lnlLoss Endowment Funds RCB Investment 15,797 474 16,271 15,797 474 16271 Restrlcted Funds Clarkc Fund Missions & Charilies ount Mi8s¢S Thornton others Union Bequest Arxount Or8an Fund Repair Fund Parish Or8ani8ation8 975,014 1,919 66,013 1,041,027 415 .4,458 (7,362) 1,400 292 292 3,459 31 3,490 5,490 29,871 23,478 (360) (7.110) (12.888) 5,133 22,097 21.603 10,167 IIJ02 (10,831) (289) 1,039,523 25,961 (27,720) (9,720) 66,013 1,094,057 Unr¢strlcted Funds Fixed Assets Debtors Prepayment Insurance Sl Marks Holdings ParoGhial A¢count Benevolent Fund Bequest acwunt Accruuls 2.212,901 26,629 9,167 (1.814.948) 397,953 24,607 9,743 (2,022)) 576 7,000 I i,CKJO 18,000 45,932 189,780 (191,016) (890) 43,806 3,138 5.164 (4,791) {390) 3,121 104,163 3.192 2.405,738 200,520 3.461.058 226,481 5,000 109.163 (200.848) IL814,9481 9,720 (228.568) (1.814.948) 600.182 1,710,510 Total Funds 66,487 14) DuriDg year ended 31 December 2023 the Parochial Hall at Carleton Street, Portadown the Fergus Hall at chUh Street, the Scout Hall at Mahon li0a Portadown and 115 Brownstown Ro Portadown were transferred to St Marks Holding Ltdla company limitsd by guarantee. St Marks Holdings is under the wntrol and management of representatives from the GeneL21 Vestry. 16