Lislimnaghan Parish Church Trustees, Annual Report and Statement of Receipts and Payments and Assets and Liabilities For the year ended 31 December 2024 Registered Charity in Northern Ireland [NIC104678] Lislimnaghan Parish Church Annual Report and Financial Statements for the year ended 31 December 2024 Page References and Administrative details of the Charity Trustees, Annual Report Independent Examinerfs Report to the Trustees Statement of Receipts and Payments Statement of Assets and Liabilities Notes to the Financial Statements 8-11 Lislimnaghan Parish Church Statement of Receipts and Payments for the year ended 31 December 2024 Unrestricted Restricted Endowment fund5 funds funds Total 2024 Total 2023 Receipts Donations and plate collection Proceeds from fund raising events Bank and deposit interest Sale of capital expenditure Rental of land Charitable collections Other receipts Receipt5 from Parish Organisation's Total Receipts 47,483 7,045 897 3,875 2,400 51,358 9,445 897 2,450 931 120 99 SO,068 7,202 719 2,450 931 864 671 597 135 120 99 290 56,745 290 8.845 65,590 60,256 Payments Diocesan costs / assessment Church running costs Parish centre costs Administration costs Charitable donations Payments from Parish Organisation's General expenses Capital expenditure Repayment of capital expenditure loan Total Payments Excess of Receipts over Payments for the year before Transfers Transfers Excess of Receipts over Payments for the year after Transfers 29,827 10,770 6,964 1.607 2,405 177 305 29,827 10,770 6,964 1,607 4.905 177 29,375 7,106 6,371 1.625 821 359 1,807 6,539 2,500 305 2.450 4,950 2,450 57,005 52,055 54,003 4,690 3,895 8.585 6.253 4,690 3,895 8.585 6.253 Reconciliation ot Funds Total fund5 brought forward Gain on investments Total Funds Carried Forward 70,672 966 71.638 65,385 75.362 4.861 80.223 71,638 On behalf of the Trustees QldKrUI Canon Derek Quinn Mrs Florence Caldwell Lislimnaghan Parish Church Statement of Assets and Liabilities as at 31 December 2024 Unrestrlcted funds Restricted Endowment funds Funds Total 2024 Total 2023 Cash Funds Current Account5 10,088 65,274 75.362 4,861 14,949 65.274 80,223 12,170 59,468 71,638 Deposit Accounts Total Cash Funds 4.861 Investment Assets Investments in RCB / CIT Unit Trusts Total Investment Assets 16,246 16,246 15,253 15,253 Assets retained for the Parish's own use Parish Hall and Facilities Land Total Asset5 retained for the Parish's own use 430,731 47,500 478.231 433.181 47,500 480.681 Approved by the Trustees on 2025 and signed on their behalf by.. QtCllQL LodknL Canon Derek Quinn Mrs Florence Caldwell .2025 Lislimnaghan Parish Church Notes to the Financial Statements for the year ended 31 December 2024 Accounting policies 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. Receipts and Payments Account All items of income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipt basis. Statement of Assets and Liabilities Assets retuinedfor the Parish's own use The assets of the Parish, retained for its own use comprise of Land, Church Building and Graveyard, Parish Hall and Facilities. The Church Building and Graveyard are deemed to be heritage assets as defined bv the Charities SORP IFRS1021. 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 Hall and Facilities are recognised at cost of construction. No depreciation ha5 been provided on these as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. Investments Investments in RCB/CIT Unit Trusts are initially recorded at cost and then are subsequently stated at fair value at each year end date. Fund Accounting Funds are classified as either restricted funds or unrestricted funds, which are defined as follows.. Re5trictedfunds Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes. but still within the wider objectives of the Parish. Unrestrictedfunds Unrestricted funds are expendable at the discretion of the Trustees in furtherance of the objectives of the charity. If parts of the unrestricted funds are earmarked at the discretion of the Trustees for a particular purpose. they are designated as a separate fund. The designation has an administrative purpose only and does not legally restrict the Trustee5 discretion to apply the funds. Lislimnaghan Parish Church Notes to the Financial Statements for the year ended 31 December 2024 (continued) Accounting policles (continued) Preparation of Accounts on a Going Concern Basls The Parish generally meets its day to day working capital requirements from its annual income. The Trustees are satisfied that the Parish has resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable future. Therefore, these financial statements have been prepared on a going concern basis. Reconciliation of Cash Funds Total Total cash fund5 at beginning of the year Receipts for the year Payments for the year Total cash funds at end of the year 71,638 65,590 {57.005) 80,223 10 Lislimnaghan Parish Church Notes to the Financial Statement5 for the year ended 31 December 2024 (continued) Movement in Funds Ati January 2024 At31 December Incoming Resources Outgoing Resources Transfers 2024 Restricted funds Church restoration fund Charitable donations Other 966 3,875 2,520 2.450 8,845 4,841 20 12,5001 12.4501 14,9501 Total restricted funds 966 4,861 Unrestricted funds General funds Total unrestricted funds 70,672 70,672 56,745 56,745 152,0551 {52,0551 75.362 75,362 Endowment funds Investments in RC8/CIT Unit Trusts Total Endowment funds Total funds 71.638 65.590 157,005) 80.223 Pur ose of Restricted Funds Church Restoration Fund: This is a fund to assist with significant repairs work due to be carried out on the church building. Lislimnaghan Parish Church Notes to the Financial Statements for the year ended 31 December 2024 (continued) Collections for Third Parties 2024 2023 Bishops, Appeal Children's Cancer Charity Christian Blind Mission CMS Ireland Crosslinks Belfast Earl Haig Leprosy Mission Nl Motor Neurone Disease 305 561 1,300 loo loo loo loo iio 100 2,400 loo Open Doors UK & Ireland Tear Fund The Bible Society Tyrone Protestant Orphans loo loo loo 4,905 671 The above amounts have been included in the Statement of Receipts and Payments for the year under charitable donations. Transactions with Trustees Trustee5 received remuneration or reimbursement of expenses during the year to the sum of £9 [2023.. £9]. No Trustee or a person related to 3 Trustee had any personal interest in any contract or transaction entered into by the charity during the year.