Cappagh Parlsh Church Trustees, Annual Report for the year ended 31 December 2023 Icontlnued) Financlal Revlew The Parish had an excess of receipts over payments of £26,687 for the year ended 31 December 2023. The Parish continues to be in a healthy financial state as at 31 December 2023 with total cash funds of £267,304. The trustees consider that the unrestricted funds of the church have sufficient resources and assets available which are adequate to fulfil their obligations. A detailed analysis of parish income and expenditure is set out in the notes to the financial statements. Going Concern The trustees have revlewed the budgets for the year ahead and are satisfied that there are adequate funds in place 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. Structure, Governance and Management Governlng Document und Constitutlon of the Charity Chapter 111 of the Constitution of the Church of Ireland governs Parlshes and Parochial Organisation. The Select Vestry members are the Charity Trustees. Recruitrnent and Appointment of Select Vestry All members of the Church of Ireland who are over the 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 meetlngs 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 Vestry is elected as part of this General Vestry 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 whith may be served. Pay and remuneratlon The Incumbent of the Parish stipend is p3id dlrectly by the Diocese, which is in accordance with figures approved by the General Synod of the Church of Ireland together with approved office and locomotory allowances. No other Charity Trustees receive a remuneration from Cappagh Parish Church. Organlsatlonal Structure The Select Vestry is responsible for the day to day management of the parish. The Select Vestry consists of the member of the clergy serving in the parish, the churchwardens, the glebe wardens and generally not more than twelve other members of the general vestry elected at the General Vestry. The Select Vestry is chaired by the incumbent or other member of the clergy officiating 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 meetlngs may be convened at anv time by the chairperson or the churchwardens. Normally the Select Vestry meets 10 times during the year and the average attendance is approximately 90Y..
Cappagh Parlsh Church Trustees, Annual Report for the year ended 31 December 2023 (contlnuedl Compllance with Public Beneflt The Parish has given careful conslderation to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the activitles entered into during the year have helped to achieve the Parish's objectives and activities, as well as providing public benefit. Statement of Tru5tees' Responslblllties The trustees are responsible for preparing the Trustees, Report and the statement of receipts and payments and statement of assets and liabilities in accordance with appllcable law and regulations. The law applicable to charltles in Northern Ireland wlth Income of less than £250,000 requires the trustees to prepare a statement of receipts and payments and a statement of assets and liabilities for each flnancial year. statement of Trustees, Responsibllltles The trustees are responsible for keeping accounting records that are sufflcient to show and explain the Parlsh's transactions and disclose with reasonable accuracy at any time the assets and Ilabilities of the Parish. They are also responsible for safeguarding the assets of the Parish and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Slgned on Behalf of the Trustees Canon Derek Qulnn Dated: 'ii. 19. I9li+t /{ (.( i-l tiLQ Mrs Martle Lynch Dated: 27. iJ.l?Lty.