Recei ts and Pa ments Account for the ear ended 31 December 2024 Note Unrestricted Funds £ Restricted Funds £ Total 2024 Total 2023 Receipts Freewill Offerings & Church Collections Insurance Proceeds Past Benefactors FLJndr3i5ing Activities Gift Aid Rental Income Other Donations in Memory Charitable Donation5 Grants 36,259 36,259 39,979 20,800 14,554 12,472 7,878 4,680 2,250 425 1,673 6,000 2,966 113,677 17,412 7,089 8,480 5,160 1,264 2,800 17,412 14,222 8,480 5,160 2,524 2,800 1,825 4&4a 7,133 1,260 1,825 Investment Income Total Receipts 2,241 80,705 2,241 90,923 10,218 Payment5 Diocesan Assessment Parish Property Costs Parish Running Costs Donations Church Floor Repairs Fundraising Activities Administration Bank & RCB Fees Sunday School Other 48,555 15,835 5,593 1,648 48,555 27,132 5,593 3,473 3,668 662 1,779 645 46,733 35,378 6,246 3,015 11,297 1,825 3,668 4a 662 1,779 645 3,852 2,539 637 411 411 296 48 1,260 18,050 1,260 93,178 75,128 98,744 Total Payments Net (Expenditure) / Receipts 5,577 (7,832) (2,255) ** 14,933 Funds Brought Forward 94,865 79,932 94,865 Funds Carried Forward 92,610 ** In 2023, £20,800 of insurance proceeds were received in respect of the rectory kitchen and expenditure of £6,000 was incurred in 2023 leaving a balance of £14,800 carried forward into 2024. In 2024, £11,297 of expenditure wa5 incurred in relation to the kitchen (for which the funding was received in 2023}.
Statement of Assets and Liabilities as at 31 December 2024 Note Unrestricted Funds E Restricted Funds Total 2024 Total 2023 Cash Funds Current Accounts Deposit Accounts Total Cash Funds 34,321 5,525 39,846 34,321 58,289 92,610 48,689 46,176 94,865 52,764 52,764 Investment Assets Investments Total Investment Assets 99,144 99,144 91,536 91,536 Asset5 retained for the Parish's own use Rectory Sexton's House Total assets retained for the Parish's own use 190,000 65,000 255,000 190,000 65,000 255,000 Approved by the trustees and signed on their behalf by: Dr Jason Foy Honorary Secretary Date: Mr Philip Smith Honorary Treasurer Date: ICI APfkl ZS . 121 FaE
Notes to the financial statements for the l. Accounting Policies 1.1 Receipts and Payments Account All items of income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basis. ear ended 31 December 2024 1.2 Statement of Assets and Liabilities The Statement of Assets and Liabilities includes the former sexton's house and the rectory recognised at their gross rateable values. The Church building was constructed in 1879 and deemed to be Heritage assets as defined by the Charities SORP (FRS102). As such, it is not included in the statement of assets and Siabilities as information on the cost or valuation is not avai5able 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 was constructed circa 1966 for a value of approximately £14,295. Given that no recent valuation exists for the building reflecting current value, this building is not recognised in the Parish Statement of Assets and Liabilities. 2. Reconciliation of Cash Funds Total Cash Funds at beginning of the year Receipts for the Year Payments for the Year Total Cash Funds at end of the year 94,865 90,923 (93,178) 92,610 3. Movement in Funds l Jan 2024 Net Movement 31 Dec 2024 Restrlcted Funds Legacy Fund Mission Fund Insurance Fund - Rectory Kitchen Church Floor Repair & Heating Fund Total Restricted Funds 39,436 6,360 14,800 39,436 6,360 3,503 3,465 52,764 (11,297) 3,465 (7,832) 60,596 Unrestricted Funds General Fund 34,269 5,577 39,846 Total Funds 94,865 (2,255) 92,610
Notes to the financial statements for the Pur ose of Restricted Funds Legacy Fund: This fund holds the income received from the legacy of a past parishioner. The fund is considered restricted until the Vestry decides the purpose for the income. Mission Fund: This fund has been established from half of the net funds raised by the Parish Players for the purpose of future mission work. ear ended 31 December 2024 continued Insurance Fund: Thi5 fund holds the insurance proceeds received less relevant expenditure incurred following water damage to the Rectory kitchen in 2023. Church Floor Repair & Heating Fund.. This fund has been established to capture funds received towards and costs associated with the repair works to be carried out. 4. Fundraising Activities Activity Income Expenditure Net Income 2024 £ 2,000 968 885 855 704 352 283 260 90 30 Net Income 2023 £ 2,306 Big Breakfast Stew Night soup Lunch Sponsored Walk Coffee Morning Men's Breakfast Clothes Collection Table Quiz Pancake Night Prayer Book Car Treasure Hunt Coronation Lunch Black Saturday / Back to Church Parish Players Christmas Concert Gospel Concert Beetle Drive Fireside Quiz / Christmas Cake Total 2,354 1,148 885 855 704 480 283 260 90 30 354 180 928 975 128 139 210 1,231 255 442 795 20 90 800 195 234 8,620 7,089 662 6,427 4a. Fundraising and Costs towards Church Floor Repair Costs Activity Income Expenditure Net Income 2024 £ 4,450 2,640 (745) 12,880} 3,465 Fashion Night Motorbike Challenge Interim Floor Repairs Professional Fees Total 4,493 2,640 43 745 2,880 3,668 7,133 141 Page
Notes to the financial statements for the Parish Running Costs ear ended 31 December 2024 continued Insurance Relief / Visiting Clergy and Guests Service Costs 4,973 210 410 5,593 6. Parish Property Costs During 2023 the Rectory kitchen suffered water damage. £20,800 of insurance proceeds were received towards its reinstatement. During the 2023 financial year £6,000 was paid as a deposit for the works to be carried out. £11,297 of further expenditure was incurred in 2024. The 2023 Rectory expenditure total also includes £8,950 incurred on the installation of solar panels. Church Building £ Rectory Hall Rental Property £ 693 Total Property Rates Water Rates Heat and Light Repairs Communications Cleaning Kitchen. Total 2024 Total 2023 1,013 1,706 560 7,565 2,865 859 2,280 11,297 27,132 35,378 195 3,547 1,484 365 1,468 458 2,550 557 859 366 2,280 11,297 16,276 23,180, 7.506 8,569 2,291 2,765 1,059 864 7. Collections and Donations to Third Parties Recipient Bishops Appeal Koram Centre Royal Brit15h Legion SAMS Greenisland Parish Church Kingham Church for Deaf People Tyrone Protestant Orphan Society Diocesan Board of Religious Education Marie Curie Total Income £ 690 683 109 190 153 Expenditure £ 690 683 150 500 250 300 300 300 300 3,473 1,825
Notes to the financial statements for the ear ended 31 December 2024 continued 8. Other Income £ Donations 1,050 Retirement Gift 1,260 Solar Panel Income 214 Total 2,524 1,260 A payment is received annually for the energy exported to the grid from the solar panels. Expenditure £ 1,260