Omagh/St Columba's/Derry/Church Of Ireland Trustees, Annual report and Financial Statements For the year ended 31 December 2024 Charities Number: NIC104764 ST COLUMBA'S CH U RCH OMAGH
Omagh/St Columba's/Derry/Church Of Ireland Annual report and financial statements for the year ended 31 December 2024 Contents Pages References and administrative details of the Charity Trustees, annual report Independent Examiners Report to the Trustees Statement of financial activities io Balance sheet li Notes to the financial ststements 12-21
Omagh/St Columba's/Derry/Church Of Ireland References and administrative details Charity Name: Omagh/St Columba'5/Derry/Church Of Ireland Charity Registration Number- NIC104764 Contact Address.. The Rectory 8 Mullaghmenagh Avenue Omagh BT78 5QH Trustees All trustees who served at any time during the year and up to the date of signing the accounts are listed below-. Mr Irwin Brannigan Mrs Lynne Brannigan Rev Alexander Chisnall Mrs Ruth Elkin Mr Norman England Rev Graham Hare Mr Michael Hart Mrs Sandra Isherwood Mr Marcus Isherwood Mr Wes Lindsay Mr Glen McBride Mr Ryan McFarland - Appointed April 2024 Mrs Glynis Mehaffey- Resigned April 2024 Mr Alan Mitchell Mr David Mitchell Mr Nigel Monteith - Appointed April 2024 Mr Nigel Strain Mr Robert Wilkinson Mr Godfrey Young Principal Office-bearer5 (at date of signing) Chair.. Hon Secretary.. Hon Treasurer- Church Warden- Rertor5- Church Warden- People: Rev Graham Hare Mrs Sandra Isherwood Mr Nigel Strain Mr Ryan McFarland Mr Nigel Monteith
Omaghlst Columba's/Derry/Church Of Ireland References and administrative details Icontinuedl Independent Examiner Hamill Mcllwaine Chartered Accountants 28-30 Old Mountfield Road Omagh BT79 7BJ Bankers Ulster Bank 4 High Street Omagh BT78 IBJ
Omagh/St Columba'5/Derry/Church Of Ireland Tru5teeg Annual Report forthe year ended 31 December 2024 The trustee5 present the annual report and financial statements for the St Columba's Church for the year ended 31 December 2024. Objectives and Activities The charitable purpose of the Church of Ireland is the advancement of religion. The principal function of St Columba's Church of Ireland Parish is to support the advancement of the Christi3n religion bv prornoting, through the work of St Columba's Parish Church 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 are fundamental to the practical delivery of the benefits of Christianity. As a result of activity in the pursuit of the advancement of the Christian religion, 5t Columba's Parish Church has custody of property and of records. materials and artefatts of significance to the cultural and religious heritage and maintenance of whicFI is undertaken by the select vestry of 5t Columba's Parish Church. Achievements. Performance & Public Benefit lementin the charitable ose throu ari5h activities within and outside the Parish. St Columba's Parish Church is under the incumbenty of the Reverend Graham Hare, assisted by Reverend Alexander Chisnall. and fulfil their charitable purpose through parish activities both within and outside the parish. The Parish, in implementing its evangelistic, pastoral, social and ecumenical mission, undertakes a wide range of attivities. In the advancement of the Christian religion we focus on worship by offering services each Sunday, in the church. A growing range of seNices, outreach initiatives, community engagement events and faith enhancement opportunities IS always evolving. In support of our worship, the Church engages in a range of pastoral activities to develop social cohesion in the neighbourhood and help those in social need. Such activities include pastoral vi51ts by the Clergy to hospitals, nursing hornes and residential care centers. The Clergy also visit parishioners in their home5 as well as offering preparation for weddings and baptlsms, arranging funerals and offering support to the bereaved in their time of105S. The pastoral work of the Parish is underpinned by prayer. We regularly engage, along with other parishes, through the Omagh Churches Forum and with the Methodist Church. Social and educational interaction is important and St. Columba's provides, on a weekly basis, activities to prornote social and educational Opportunities for all ages. These include a toddlers group, Sunday School, Confirmation Class, Living Ladies Group, Lent and Advent lunches, Youth Fellowship, Evergreen, Mothers, Union, Choir and Bowls. Additional occasion31 activities of thi5 nature have included provision of funeral teas, rninistry courses to facilitate those exploring the Christian faith, Prayer Groupi discipleship courses emergency responses to major world disasters. 2024 saw continued growth in our congregation for which we offer humble thanks to our faithful God. 2024 saw significant expenditure on our infrastrutture as we continued to invest in making our car park safer and more accessible for all users. The generosity of our parishioners Is once again demonstrated in these accounts, and we are thankful to God for meeting our every need, through the giving of hi5 people. That said, these account5 also reflect the rising costs of facilitating mission and ministry in a large and busy parish. In addition to rising costs associated with governance and legislation, the price of necesslties including insurance, heat and light all continue to rise. The Lord who has been faithful continues to be so and with confident faith we continue to lean on him to provide all that we need to fulfill our calling to be a church where anyone can belong in fellowship, believe the Gospel and become like Jesus.
Omagh/St Columba's/DerrylChurch Of Ireland Trusteeg Annual Report for the year ended 31 December 2024 (continued) Expenditure is incurred in the provision of the above activities and in the maintenance of the church facilities and services. The Select Vestry, which is made up of our Trustees, seeks to steward our financial resources wisely and support the work of our mission. In all our activitie5 designed to reach out to Children and Young people the Parish adheres to the Safeguarding Trust, the Church of Ireland policy for working with Children and Young People. St. Columba's remains committed to our mission through outreach by contributions to support the work of various mission organisations, local and international. A review of our support for such organisations shows a wide range of recipients including for example- South American Mission Society, Care for Cancer, Scripture Union and Bishop's Appeal. The Parish continues our long-standing a550Clation with Ty Caraid in Africa and maintains financial and prartical support for the work there in the areas of health and education. St. Columba's Church is committed to the mission of providing pastoral care to its members and seeking to draw them closer to God in their daily lives. Prudent financial management of income and expenditure by the Selert Vestry is a vitally import3nt objertive in the day- to day management of the Parish. The main source of income comes from regular freewill offering from parishioners and associated gift aid. Expenditure is incurred in the provision of the above activities and in the maintenance of the church facilities and services. A key area of expenditure is staff costs including the payment of clergy and wage5 to lay Èmployees including a sexton. Payments to the central church bodies, insurances, property repairs and maintenance to church properties and allocations to charitable organisations are a150 areas of significant expenditure. Other costs include payments in relation to estate, licenses. compliance costs. professional fees and materials and equipment required for effertive delivery of church activities. Finally, the Parish continues to give careful consideration to following the Charity Commission for Northern Ireland'5 guidance on public benefit to ensure that its activities duringthe year. and those planned for the future, have and will continue to achieve the Parish's objectives as well as providing public benefit.
Omagh/St Columba'5/Derry/Church Of Ireland Trusteeg Annual Reportforthe year ended 31 December 2024 (Continued) Financial Review As costs continue to rise, the 5elert Vestry remains prudent in its management of Parish finances. We acknowledge that everything we have is a gift from God, and therefore seek to make decisions which reflect the mission and ministry prioritie5 of his church. Going Concern The trustees have reviewed 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 financi31 statements for the year ended 31 December 2024 can be signed off as a going concern. Structure, Governance and Management Governing Document und Constitution trf the Chority Chapter 111 of the Constitution of the Church of Ireland governs Parishes and Parochial Organisations. The Select Vestry members are the Charity Trustees. Recruitment andAppointment of Selert Vestry (fru5teesJ 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 meetings of the General Vestry and to stand for election to the Select Vestry, subject to meeting the required conditions. Meeting5 of the General Vestry are held usually once per year. The Select Vestry is elected at this General Vestry meeting. The Select Vestry will hold their position5 for a period of one year. Select Vestry members may be re-elected annually and there is no limit on the number of terms which may be served.
OmaEh/St Columba's/Derry/Church Of Ireland Trustees, Annual Report for the year ended 31 December 2024 (continued) Poy t7nd remuneration The Rector and Curate receive a stipend and office and locomotory allowances in accordance with figures approved by the General Synod of the Church of Ireland and pension contributions and Employees National Insurance are paid in accordance with Diocesan recommendation. The Sexton receives a salary commensurate with role and experience. Oryanisutionul Strurture The selert vestry consists of the member of the clergy serving in the parish, any curate assistant I'the curate"), the churchwardens, the glebe wardens and generally not more than twelve other members of the general vestry elected at the General Vestry. The selert 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 matter5 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 meeting5 may be convened at any time by the chairperson or the churchwardens Compliunce Wffth Public Benefrt The Parish has given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the activities entered into during the year have helped to achieve the Parish's objectives and activities, as wel l 35 providing public benefit.
Omagh/St Columba's/Derry/Church Of Ireland Trustees. Annual Report for the year ended 31 December 2024 (continued) Statement of Trustees, Responsibilities 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 applicable law and regulations. The law applicable to charities in the Northern Ireland requires the trustees to prepare financial statements for each financial year. Under that law the trustees have prepared the financial statements in accordance with Generally Accepted Accounting Practice in the United Kingdom laccounting standards issued by the Financial Reporting Council in the UK, including Charities SORP IFRS 1021 ' Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 "and promulgated by the Institute of Chartered Accountants in the United Kingdom and United Kingdom Lawl Under that law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charity and of the statement of financial activities of the charity for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently; make judgments and estimates that are reasonable and prudent state whether the financial statements have been prepared in accordance with applicable Accounting Standards and identify the standards in question, subject to any material departures being disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Parish will continue as a going concern. The trustees are responsible for keeping accounting records that are sufficient to show and explain the Parish's transactions and disclose with reasonable accuracy at any time the assets and liabilities 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. Signed on Behalf of the Trustees Rev Graham Hare Mrs Sandra Isherwood- Secretary Date 2& LW
Independent Examiners Reportto the Trustee5 of Omagh/St Columba'5/Derry/Church Of Ireland We report on the accounts of Omagh15t Columba's/Derry/Church of Ireland for the year ended 31 December 2024, which are set out on page5 10-21. Respective responsibilities of charity trustees and examiner As the charivs trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. It is our responsibility to- Examine the accounts under section 65 of the Charites Act. Follow the procedures laid down in the general Direttion given by the Commission under seciion 6519llbl of the Charities Act. State whether particular matters have come to our attention. Basis of independent examinerfs report We have examined your charity accounts as required under section 65 of the Charites Act and our examination was carried out in accordance with the general Directions given by the Charity Commission. Our examination included a review of the accounting record5 kept by the charity and a comparison of the accounts presented with those records. 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. Our role is to State whether any material matters have come to our attention giving us cause to believe: That accounting records were not kept in accordance with section 63 of the Charities Art That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of the Charites Art That there is further information needed for a proper understanding of the accounts to be reached. Independent examinerfs statement We have completed our examination and have no concerns in respett of the matters111 to141 listed above and in connection with following the Directions of the Charity Cornmission for Northern Ireland, we have found no matters that require drawing to your attention. CHARTERED ACCOUNTANTS Hamill Mcllwaine Chartered Accountants 28-30 Old Mountfield Road Omagh, Co. Tyrone BT79 7BJ Date
Omagh/St Columba's/Derry/ChuTch Of Ireland Statement of Financial Activities for the year ended 31 December 2024 Unrestricted Funds 2024 Re5trirted Funds 2024 Endowment Funds 2024 Total 2024 Total 2023 Note Income Donations & legacies Other trading activities Investments Charitable activities 164,804 22,792 27,777 18,370 1.666 183.174 24,458 27.777 3.512 216,506 21,426 24,925 3,639 3.512 Total Income 215,373 23,548 238.921 266,496 Ex enditure on: Generating funds Charitable activities Other Totsl Ex 199,570 14,432 2,771 17,203 214,002 2,771 216,773 196,160 3,642 199,802 enditure 199,570 Net Income/ (Expenditure) before tran5fer5 15,803 6,345 22,148 66,694 Transfers between funds 110,594) 10,594 Net Income/ (Expenditure) before other recognised gains and losses 5,209 16,939 22.148 66,694 Gain/lL05sI on investments assets 15.545 15,545 7,949 Net movement in funds 5,209 16,939 15,545 37,693 74,643 Reconciliation of funds: Total funds brought forward 1,079,746 663,338 335,548 2.078,632 2.003,989 Totsl funds carried fonmard 1,084,955 680,277 351,093 2,116,325 2,078,632 10
Omagh/St Columba's/Derry/Church Of Ireland Balance Sheet as at 31 December 2024 2024 Fixed Assets Tangible Fixed Assets Investment Properties Investments Total fixed assets 2023 li 12 13 994,714 723,500 208,343 1,926,557 994,714 723.500 192,798 1.911.012 Current Assets Debtors Cash and cash equivalents Total current assets 14 25,455 168,123 193,578 33,450 140,149 173,599 Creditors- amounts falling due within one year Total creditors 15 (3,810) 13,810) {4,5251 {4,5251 Net Current Assets 189,768 169,074 Creditors-amounts falling due after one year Loans 11,4541 Total net Assets 2,116,325 2.078,632 The funds of the parish Unrestricted funds General funds Designated funds Total unrestrirted funds Restricted Funds Endowment Funds 16 1,001,407 83,548 1,084,955 680,277 351,093 998,056 81,690 1,079,746 663,338 335,548 16 16 Total charity funds 2,116,325 2,078,632 The notes on pages 12 to 21 are an integral part ofthese financial statements. The financial statements on pages 10 to 21 were approved by the Board of Trustees on 10 April 2025 and signed on its behalf by". Rev Graham Hare Mrs Sanrda Isherwood
Omagh/St Columba's/Derry/Church Of Ireland 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 Financial Statements. al Basis of preparation The financial statements have been prepared on a going concern basis in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financia I Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Parish rneets the definition of a public benefit entity. A55ets and liabilities are initially recogni5ed at historical cost and transaction value unless otherwise stated in the relevant accounting policy notes. bl Preparation of accounts on a going concern basis The Parish generally meets its day to day working capital requirements from it5 annual income. The Trustees have obtained and reviewed cash flow forecasts for the coming year and based on these 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 staternents have been prepared on a going concern basis. c} Income Plate Collections, Weekly Envelope5, Graveyard income are accounted for on a cash receipts basis as the amount is collerted Income arising from the rentsl of Parish Centre facilities to third parties is recognised when the parish ha5 entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants, whether 'capital' grants or 'revenue' grants. is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Legacies are included within Income, under either unrestricted or restricted funds, according to the terms under which the donation is made and when the amount can be quantified with reasonable certainty. Donations and gift5 in kind are brought into the accounts at their fair value to the Parish. d) Expendtture Expenditure is recogni5ed once there 15 a legal or constructive obligation to make 3 payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure wa5 incurred. 12
Omaghlst Columba's/Derry/Churth Of Ireland Notes to the financial Statements for the year ended 31 December 2024 Icontinuedl l. Accounting policies (continued) el Tangible assets The assets of the Parish, retained for its own use comprise:. Church Building (including fixtures and fittings) and Graveyard Church Hall Rectory Curatage Church building and Graveyard The Church Building and Graveyard are deemed to be Heritage assets as defined by the Chartties SORP IFRS1021 These Heritage assets are not included in the balance sheet 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. Church Hall The church hall was built in 1973. There are no reliable records of the cost of this construrtion and valuation approach for such a building lacks sufficient reliability. As a result this building 15 not recognised in the parish balance sheet. The rectory The rectory is recognised at its capital value as per Land and Property Services. No depreciation has been provided on the rectory a5 the current estimated residual value is not less than it5 carrying value and the remaining useful life currently exceeds 50 year5. The curatage The curatage is recognised at its capitsl value as per Land and Property Services. No depreciation has been provided on the curatage as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. Fixtures and fitting5 for use the by charity are capitalised if they Can be used for more than one year, and cost at least £4,000. Fixtures and Fittings are recognised at cost or, if gifted, at the value to the charity on receipt and are depreciated on a reducing balance basis over a period of 10 years. The assets, residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. Tangible assets are derecognised on disposal or when no future economic benefits are experted. On disposal, the difference between the new disposal proceeds and the carrying amount is recognised in the statement of financial attivities and included in 'Other operating Ilossesl/gains'. 13
Omagh/St Columba'5/Derry/Church Of Ireland Notes to the financial statements for the year ended 31 December 2024 Icontinuedl Accounting policies Icontinuedl ii) Investments Fixed asset investments comprising investment propertie5, investments in equities (ordinary sharesl and investment in RCBICIT Unit Trusts are initially retorded at cost and are then subsequently stated at fair value at each balance sheet date. Investments in unquoted investments are recorded at cost and are a55essed annually for impairment. Unrealised gains and losses represent the difference between the fair value at the beginning and end of the financial year or, if purchased in the year. the difference between tost and kir value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the fair value at the start of the year or cost if purchased in the year. Both realised and unrealised gains and losses in investments are reported within 'Net Gains / (Losses) on Investments" within the Ststement of Financial Activities. gl Cash and cash equivalent5 Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within Creditors Amount5 falling due within l year. h) Financial instruments The Parish only has financial assets and financiBI liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction price and subsequently measured at their settlement value. i) Funds Funds are classified as either restricted funds or unrestricted funds, defined as follows. Restricted funds are funds subjert to specific requirement5 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 objects of the Parish. Endowment funds are fund5 which have been given on the condition that the original capital sum is not reduced, but the income there from is used for the purpose defined in accordance with the objects of the Parish. Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objetts 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. This designation has an administrative purpose only and does not legally restritt the trustees, discretion to apply the fund. CritT¢al accounting judgements and estimation uncertainty Estirnates and judgments made in the process of preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectation5 of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical judgments made in applying the Parish's accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year. 14
Omaghlst Columba's/Derry/Church Of Ireland Notes to the financial Statements for the year ended 31 December 2024 Icontinuedl 3. Donations and legacies Unrestricted Funds 2024 Restricted Funds 2024 Endowrnent Funds 2024 Total 2024 Z023 Plate Collection5 Weekly envelopes / FWO Tax recovered on Donations Legacies Endowment income Grants Other donations 2,554 110,779 22,592 1,540 11,420 2,700 4,094 122,199 25,292 3,659 124,887 24,145 2,788 855 25,236 164,804 2.710 5.498 855 25.236 183,174 5,354 26,043 32,418 216,506 18,370 4. Other trading artivttie5 Hall rental Car Park rental Fundraising Other 9,772 10,650 2,370 9,772 10,650 4,036 6,977 10,682 3,767 1,666 22,792 1,666 24.458 21,426 5. Investments Deposit interest Rental Income- Investment Properties 157 157 27,620 143 24,782 27,620 27,777 27,777 24,925 Charitsble activities Organisations Income Other Income Vacanry refund 3,512 3,512 3,639 3,512 3,512 3,639 15
OmaEh/St Columba's/Derry/Church Of Ireland Notes to the financial statements for the year ended 31 December 2024 Icontinuedl Analy515 of Expenditure Unrestricted Funds 2024 Restrirted Funds 2024 Endowment Funds 2024 Total 2024 2023 Generating Funds Fundraising costs Other Charitable Activities Wages and Salaries Diocesan Costs/Assessment Church Running Costs Rectory/ Curacy Costs Hall expenses Property expenses Investment cost5 Administration Cost5 Charitable Donations 16,257 103,211 21,968 7,325 8,570 30,732 16,257 103.211 34,349 7.325 8,570 30,732 15,275 99,872 37,557 5,668 7,384 14,409 12.381 5,218 6.289 5,218 5,645 10,350 2,051 199,570 14,432 214,002 196,160 Other Costs Loan interest Organi5ations expenses 423 2,348 2,771 423 2.348 2,771 1,347 2,295 3,642 Total Expenditure 199,570 17.203 216,773 199,802 Governance costs of £1,891 were incurred during the year of which £1,891 relates to fees paid to the independent examiner. Governance costs are included within Administration costs above. 16
Omagh/St Columba's/DerrylChurch Of Ireland Notes to the financial statements for the year ended 31 December 2024 Icontinuedl Gain IILoss) on Investment Assets 2024 2023 Unrealised fair value gains I (losses) on investments 15,545 15.545 7,949 7,949 Taxation The Omagh/St Columba's/Derry/Church Of Ireland is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. 10. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel Employees 2024 2023 Salaries and wages National insurance costs 16,257 15,275 Total 16.257 15,275 The average number of employees during the year, calculated on the basis of a head count, was as follows.. 2024 Number 2023 Number Music staff Premises maintenance There are no employees in receipt of employee benefits in excess of £60.000 Key Management und Trustees Key management are deemed to comprise the Trustees. The parish paid expenses of £4,944 relating the running costs of the glebe house which is occupied by the rettor and £2,382 relating to the running costs of the Curatage which is occupied by the curate. £344 was also paid to the Glebe Warden, £2,053 the Curate and £3,825 to the rector for expen5e5 owed. No other trustee received any remuneration or reimbursement of expenses during the year. 17
OmaEhlSt Columba's/Derry/Church Of Ireland Notes to the financial Statements for the year ended 31 December 2024 {continuedl 11. Tangible fixed assets Buildings Cost At beginning of the year Additions At end of theyear 994,714 994,714 Depreciation At beginning of the year At end ofthe year Net book value at beginning of the year Net book value at end of the year 994,714 994,714 12. Investment Propertie5 Balance at Beginning of the year Balance at end of the year 723,500 723.500 18
Omagh/St Columba's/DerrylChurch Of Ireland Notes to the financial statements for the year ended 31 December 2024 (continued) 13. Investments Other Investments Balance at beginning of the year Fair Value gain / Ilossl on investments Balance at end of the year 192,798 15,545 208,343 Analysis of Investments Investments in RCB Unit Trusts Investments in CIT Unit Trusts 39,671 168,672 208,343 14. Debtor5 2024 2023 Sundry debtors Other- Gift Aid reclaim 1,555 23,900 25.455 9,305 24,145 33,450 15. Creditors Amounts Due wtthin l Year 2024 2023 Accruals and deferred income Taxation and Social Security 3,193 617 3.853 672 3,810 4,525 19
Omaghlst Columba'5/Derry/Church Of Ireland Notes to the financi?15tstement5 for the year ended 31 December 2024 Icontinued) 16. Funds of the Parish Movement in Investment Atljan 2024 At 31 Dec Incorne Expenditure Transfers 2024 Endowment funds The James Hamilton Bequest- 30 day reseNe The James Hamilton Beque5t- house Various legacies/ bequests invested with RCB 29,250 29,250 113,500 113,500 192,798 335,548 15,545 15,545 208,343 351.093 Restricted funds Current account- for garden Fabric Fund Missions and charities Dividends Organisations Fixed assets Bank loan 602 21,998 602 37,219 15,287 2,039 2,710 3,512 19,6831 12,0391 12,7101 12,3481 9,617 12,478 629,714 11,4541 663,338 19001 12,742 629,714 14231 117.203) 1,877 10,594 23,548 680,277 Unrestricted funds Designated Hall Fund Designated Car Park Fund Designated Organ Fund Designated Graveyard Fund Designated- Building Sustentation account General Fund Tangible fixed assets Investment Properties 8,783 65,230 27 7,650 15,604 19,650 111,5851 131,0471 1321 12951 900 13.70Z 53,873 15) 1,135 780 2,617 108,968 67,754 17,0001 12,6171 13,4401 1,523 12,959 10,097 365,000 61D,000 1,079,746 1103,6431 152,9681 14,844 26.406 365.000 610,000 1,084,955 215,373 1199,5701 110,5941 Total funds 2,078,632 238.921 {216.7731 15,545 2.116,325 Pur oses of Endowment Funds: Income from James Hamilton Bequest is to be used for general church purposes. Income from the various bequests/legacies invested with RCB are to be used for general church purpose5. Pur oses of Restricted Funds- Fabric fund.. This is a fund for the maintenance of the church property including the rettory and the curatsge. 20
Omagh/St Columba's/Derry/Church Of Ireland Notes to the financial statements for the year ended 31 December 2023 (continued) 16. Funds of the Parish (continued) Pur oses of Desi nated Funds- Hall Fund.. The Trustees have set aside funds for the maintenance of the church hall. Car Park Fund: The Trustess have set aside funds for the maintenance for the church car park. Organ Fund.. The Trustees have set aside funds for the maintenance of the church organ. Graveyard Fund- The Trustees have set aside funds for the maintenance of the church graveyard. Building Fund (Reserve account): The Trustees are using the 30 Day reserve account to hold funds set aside for work to be carried out on the church building as well 35 the James Hamilton bequest cash. 17. Analysis of Net Assets Among Funds General Designated Restritted Endowment Total Fixed Assets Investments Current Assets Total Liabilities Net assets at 31 Dec 2023 975,000 629,714 113,500 208,343 29,250 1.718.214 208,343 193,578 {3.8101 2,116,325 28,007 11,6001 1,001,407 83,548 52,773 12,2101 680,277 83,548 351,093 18. Collection for Third Partie5 2024 2023 Chri5tmas100se collection 5Ltnday school collection Quill Bishops, Appeal RUC GC service Collection Ellie Armstrong- Coffee morning 902 500 2.307 917 2,000 5,224 650 2,052 The above amounts have been included in Total income for the Year under Charitable Activities. 21