Charlty reglstratlon number 104857 (Northern Ireland)
ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Rev Canon Paul Hoey
Charles Donnell
Ernest Moore
William Driver
Wendy Deacon
Ann Turner
Elaine Way
Roberta Sinclair
Melonie Montgomery
Daphne Pentland
Valerie Failh
Rebecca Driver
Olga Cathers
Tracy Jennings
Derek Thompson
Maeve Curry
Charity number (Northem Ireland)
104857
Principal address
21 Main Street
Eglinton
BT47 3AB
Independent examiner
PFS & Partners
16 Main Street
Limavady
BT49 OEU
8ankers
Danske Bank
27 Glenshane Rd
Londonderry
BT47 2LN

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
CONTENTS
Page
Trustees, report
Independent examiner's report
ststement of financial activities
Balance sheet
Notes lo the financial ststements
8-21

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance wilh the accounting policies set out in note 1 to the
financial statements and cornply with the charity's governing document, the Charities Act (Northem Ireland) 2008,
FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP
"Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their
accounts in accordance wilh the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS
1021"
Objectives and activities
The charitable PUTpose of St. Canice's Church is Ihe advancement of religion.
The principal function is to support the advancement of the Chrislian religion by promoting through the work of the
Parish the whole mission of the Church, pastoral, evangelisti¢, social, and ecumenical. Being open to and engaging
with society as a whole and offering support for those needing help is fundamental to the practical delivery of the
tenels of Christianity.
As 8 result of activity in pursuit of the advancement of the Christian religion, the Parish has custody of a large body
of records, materials. and artefacts of significance lo the cultural herilage, the maintenance of which is undertaken
by the Parish as a secondary charitable purpose.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commissioll in deciding whal aclivities the
charity should undertake.
The expression of the precepts of the Christian religion through engagement with the general public, and in
particular wilh the disadvantaged, the sick, the elderly and the young is a public benefit. This can be measured and
evidenced thiough increased social integration and pastoral care delivered at the point of need. The direct benefit of
participation in Church life includes the enjoyment of public worship and the giving and receiving of pastoral
ministry, improved understanding of the values relating to civic engagement, community cohesion and providing a
bridge between diverse groups as well as improved educational outcomes through the Church's ministry of
teaching. The beneficiaries are the general public. The public valuation of the benefits can be evidenced through
attendance al public worship, participation in Church govemance, willingness to support through contributions and
the continuing witness of the Church. The wider benefil to the public will oulweigh any detriment arising in the
course of Christian outreach. Any private benefit arising out of the fvlfilment of our Christian ministry or to lay staff is
es5enlial to the fulfilment of the purpose of the advancement of religion. No Tru51ee receives remuneration. reward,
or other private benefit for carrying out their Trustee responsibility.
The dired benefits flowing from maintenance of a body or records, materials and artefacts include Ihe provision of
archive records, public enjoyment of cultural and historic buildings and artefacts such as church p￿te. fumishings,
and materials as well as an overall improved appreciation of longstanding Christian heritage. This is demonstrated
through on-going provision of access to record5 and the use made of Ihese records in, for example, research and
genealogy, through conservation efforts in respect of records, property and artefacts and the subsequent and
continued requests for access and use of our materials by wider society. There is no hami arising from the purpose.
The beneficiarie5 are the general public. No private benefit is received by trustees fulfilling Iheir truslee
responsibilities in respect of these records, buildings, or artefacls, but in the course of conservaion and to make
these accessible to the public, the engagement of professional staff and Se￿iceS is essential but incidental lo the
fulfilmenl of the purpose.
Compliance with public benefit
The Parish has given careful consideration lo 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 well as providing public benefit.

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and perfomiance
Significant aclivilies and achievements against objectives
Since 2017, the Select Veslry has worked extremely hard to achieve ils vision for a new parish centre, to be known
as The Canice Centre. Significani progress has been made during 2024. Imth Diocesan support to build in phases
as money becomes available, we were delighted when the project commenced in June 2024. We were grealy
encouraged to receive grants of £50,000 from the Benefact Trust, a national charTty providing essential support lo
protect and enhance churches and Christian charity buildings, and £1 5,000 from the Representative Church Body
(part of the Church of Ireland's govemance structure) in Dublin.
Regular sile meetings between representatives of the Select Vestry and the building contractor, archltect, and other
professions, commenced from September 2024. As construction has progressed, there has been great interest in
the village, and support for the success of the project. The Select Vestry set up a Fundraising Gioup in May 2024,
which include5 wider parish representation. Fundraising events have been well supported, and the improved
financial position of the Building Fund reflects this success.
Parishioners committed to contribute to the church's Building Fund when it was launched in June 2021. By the end
of 2024. the Select Veslry was pleased thal parishioners had largety adhered to their pledges, while noting that
some contributors had died or left the parish. Nevertheless, the Building Fund remained on target for 2024. In
December 2024, the details of a "Count Me In" initiative were sent to parishioners lo encourage futher support for
the Building Fund. There has been a positive response thus far. 'Buy a Brick. was also launched to the wider
community, with flyers being sent to almost 7,000 homes.
An importanl conlributor to the Building Fund is the income received from the parish Thrift Shop "New Beginnings-,
which opened in December 2020. As well as bringing much-needed additional income for the church's Building
Fund (almost £47,000 nett in 2023), the shop has proved to be an important part of St Canice's ministry in the local
community. Its success is due to a team of committed volunteers, and the quality of donations received from across
the community. The Select Veslry agreed in November 2024 to give grants of £750 each lo Eglinton Primary
School's Breakfast Club and the Faughanvale Community Project, with a further donation of £200 to Foyle Search
and Rescue. We also supported a charity providing aid in Ukraine. In this year, the parish also donated to the
Bishops, Appeal for the Middle East, and the Earf Haig Fund.
We are encouraged that numbers attending church services and Sunday School are being maintained. Although we
are challenged by the lack of a usable church hall. we created many opportunilies in 2024 to grow in strength as a
church family. We established house groups to discuss the Reclor's sermons, took part in a three-churches, Alpha
programme, offered a community-wide healing service, and orgènised a number of social events and activities. In
December, we organised a Gifts, service and gave a significant number of gifts for all ages to Foyle Women's Aid.
We also support Foyle Foodbank on an ongoing basis.
Despite concerted efforts, the parish was unable to fill the Youth Worker post. which is shared with the local
Presbyteman Church as a means of reengaging yovng people. During 2024, we were pleased to develop a
partnership arrangement wilh Exodus NW to provide support initially to the churches, youth groups.
Compllance wlth Publ1¢ Benefit
The Parish has given careful consideration to the Charity Commission for Northern Ireland's guidance on public
benefit to ensure that Ihe aclivilies enlered into during the year have helped lo achieve the Parish's objectives and
activities, as well as providing public benefit.
Financial review
Our total income in the year was £460,18512023- £151,484 } and this consisted of £282,37512023: £72,758) in our
General Fund {Unreslricted Funds), £173,733 {2023'. £74,417) in our Restricted Fund and £4,077 (2023: £4,309)
income from Endowments.
Total expenditure for the year was £104,96912023.' £123,460) of which £89,330 (2023.. £85,620) was from General
Funds (Unrestricted Funds), and £10,419 {2023.' £33,531) wa5 from Reslricled Funds and £5,22012023.' £4,309)
was from Endowment Funds.

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Going concem
The Trustees have reviewed the budgets for the year ahead and are satisfied that there are adequate funds in place
to ensure Ihat the Parish can continue its activities and the financial statements for the year ended 31 December
2024 can be signed off as a going concern.
ReseNes policy
It is the policy of the chaiity that unrestricted funds which have not been designaled for a specific use should be
maintained al a level equivalent to between three and six month's expenditure. The truslees consider that reserves
at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's
current activities while consideration is given to ways in which additional funds may be raised. This level of reserves
has been maintained throughout the year.
Structure. governance and management
The charity is an unincorporated charity registered in Northem Ireland.
Chapter 111 of the Constitution of the Church of Ireland governs Parishes and Parochial Organisation. The Selecl
Vestry members are the Charity Trustees. At its April meeting, Ihe Select Vestry confirmed the following policie5 sent
to Ihe parish by Ihe Representative Church Body in Dublin..
Code of Conduct
Conflicls of Interest
Remuneration Policy
Expenses Policy
GDPR Policy
The truslees who setved during the year and up to the date of signature of Ihe financial statemenls were..
Rev Canon Paul Hoey
Charles Donnell
Ernest Moore
William Driver
Wendy Deacon
Ann Turner
Elaine Way
Roberta Sinclair
Melonie Montgomery
Daphne Pentland
Valerie Faith
Rebecca Diiver
Olga Cathers
Tracy Jennings
Derek Thompson
Maeve Curry
Recwitment and appointment of trustees
All members of Ihe 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 ge￿ra1 vestry and
to stand for election lo the select vestry. Meetings of the general vestry are held al least once a year. The Select
Vestry is elected as part of this General Vestry meeting. The Select Vestry hold their position5 for a period of one
year. Select Vestry members may be r&elected annually and Ihere is no limst on the number ofterms which may be
setved. The general vestry meeting took place on 14 April 2024.
None of the tnjstees has any beneficial interest in the company. All of the trustees are members of the company and
guarantee to contribute £1 in the event of a winding up.

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Organisafionsl structure
The Selecl Vestry is a body of people elected under the Conslilulion of the Church of Ireland responsible for th8
day-l(￿daY management of thè p2rish. Tho Selocl Vestry consisls of the member of Ihe clergy I'the incumbenl")
serving In the parish. along wilh up lo 16 other members. The Select Vestry is responsible for making decisions on
Matters of general concem ?nd importance to the parish including deciding how parish funds are to tp applied. It
meels al limes fixed by the members. In 2024. the Select Vestry mel nine times during Ihe year. including
workshop and two Zoom meetings. Their work was SilPPOrted by a number of Sub-commillees including a Finance
Committee. a Hall Projecl group, a Fundraising Group, and a Parish Developmènt Group.
Remunerafion policy
An allow8nce of £900 for expenses of office was paid lo the incumbent member of Clergy who served in the parish
during the year, along with a further amount of £4,030 accrued in daily running expenses or to reimExJrse him for
accounts paid on behalf of the parish.
The trustees, report was approved by the Board of Truslees.
Rev Canon Paul H
Trustee
ey
EmÈst Moore
Trustee
6 April 2025

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
I report on the financial ststements oflhe charity for the year ended 31 December 2024, which are set out on pages
6t021.
Respective responsibilities of charity trustees and examiner
As the Charity's Irustees you are responsible for the preparation of the financial statements in accordance with the
Chaiities Act (Northem Ireland) 2008.
It is my responsibility to-
examine Ihe financial stalements under section 65 of the Charities Acl (Northern Ireland) 2008-,
follow the procedures laid down in the general Directions given by the Commission under section 6519){b)
of the Charities Act (Northern Ireland) 2008., and
State whether particular matters have come to my attention.
Basis of independent examinees report
I have examined your charity financial statements as required under section 65 of the Charities Act {Northern
Ireland) 2008 and my examination was carried oul in accordance with the gener21 Directions given by Ihe Charity
Commission for Northern Ireland under section 6519){b) of the Charilies Acl. The examination included a review of
the accounting records kept by the charity and a comparison of the financial statements presented wf(h those
records. It also included consideration of any unusual ilems or disclosures in the financial statements. and seeking
explanations from you as charity trustees concerning any such malters.
My role is to stste whether any material matters have come to my attention giving me cause to believe that-
1. Accounting records were not kepl in accordance with seclion 63 of the Charities Acl (Northern Ireland)
2008,. or
2. The financial statements do nol accord wilh those accounting records., or
3. The financial statements do not comply with Ihe accounting requirements of the Charities Act (Northem
Ireland) 2008., or
4. There is further information needed for a proper understanding of the financial ststements to be reached.
Independent examiner's statement
Since the charity's gross income exceeded £250,000, the independenl examiner must be a member of a body listed
in section 65 of the Charities Act (Northern Ireland) 2008.1 confirm that l am qualified to underlake the examination
because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination and I have no concerns in respect of the matters {1) to {4) lisled above and, in
connection with following Ihe Directions of the Charity Commission for Northem Ireland, I have found no matters
thal require drawing io your altention.
pfrs f&( IMCJ
PFS & Partners
16 Main Street
Limavady
BT49 OEU
6 April 2025

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ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Fixed as$et$
Tangible assets
Inveslments
15
16
629,786
119,746
275,556
159.134
749,532
434.690
Currènt assets
Debtors
Cash at bank and in hand
18
31,487
378.727
355,759
410,214
355,759
Creditors- amounts falling due withln
one year
19
16001
Net current assets
409.614
355,759
Total assets less current Ilabllities
1,159.146
790,449
The funds of the charity
Endowment funds
Restricted income funds
Unreslricled funds
20
21
22
130.702
561.708
466,736
171.232
347,202
272.015
1.159,146
790.449
The financial statements were approved by the trustees on 6 April 2025
Rev Canon Paul Hoey
Trustee
Ernest Moore
Trustee

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng policles
Charity inforniation
St Canice's Church of Ireland, Faughanvale is a an unincorporated charity registered in Northern Ireland.
1.1 Accounting convention
The financial statements have been prepared in accordance wilh the charity's goveming document, the
Charities Act (Northern Ireland) 2008, FRS 102 "The Financial Reporting Slandard applicable in Ihe UK and
Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Stalement of
Recommended Praclice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" The charity is a Public Benefit
Entity as defined by FRS 102.
The charity has taken advantage of the provisions in Ihe SORP for charities not to prepare a stat￿ent of
cash flows.
The financial statements are prepared in sterting, which is the functional currency of the charity. Monetary
amounts in these financial slatements are rounded to the nearest £.
The financial statements have been prepared under Ihe historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Iruslees have a reasonable expectation that the charity
has adequale resources to continue in operational existence for the foreseeable future. Thus the trustees
continue to adopl the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unreslricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowmenl funds are subject to specrfic conditions by donors that the capilal must be maintained by the
char(ty.
1.4 Income
Income is recognised when Ihe charity is legally enlitled to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. other donalions are recognised once the charity has been notified
of the donation, unless perfomance conditions require deferral of the amounl. Income tax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognised at Ihe time of the donation.
Legacies are recognised on receipt or othenmise if the charity has been notified of an impending distribution,
the amount is known, and receipt is expected. If the amounl is nol known, Ihe legacy is Irealed as a
contingent asset.

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting pollcies
Icontlnued)
1.5 Expenditure
Expenditure is recognised once there is a legal or Constructive obligation to transfer economic benefit to a
Ihird paty, il is probable that a transfer of economic benefils will be required in settlement, and Ihe amount of
the obligation can be measured reliably.
Expenditure 1$ classified by activity. The costs of each activiiy are made up of the total of dir￿ cost$ and
shared cosls, including support cosls involved in undertaking each activity. Direct costs attributable to a single
activily are allocated directly io thal actlvlty. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned between those activities on a basis
consistent wilh the use of resources. Central staff costs are allocated on the basis of time spent, and
depre¢ialion charges are allocated on the portion of the asset's Use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
deprecialion and any impairment losses.
Depreciation is recognised so as to write off the cosl or valualion of assets less their residual values over Iheir
useful lives on the following bases=
Leasehold land and buildings
The gain or loss arising on the disposal of an assel is determined as the difference between the sale proceeds
and the carrying value of the asset. and is recognised in the statement of financial activities.
1.7 Fixed asset investments
Fixed asset investments ale initially measured at transaction price excluding transaction costs, and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
1.8 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of ils tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication
exisls, the recoverable amount of the asset is estimated in order lo determine Ihe extenl of the impaiment
loss lif any).
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposlts held al call wlth banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within bO￿owingS in current liabilities.
1.10 Financial Instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Sectlon 12
'Olher Financial Instruments Issues, of FRS 102 lo all of ils financial instruments.
Financial inslruments are recognised in the charity's balance sheet when the charity becomes party lo the
contractual provisions of the instwment.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is 8 legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
Bas1¢ flnan¢lal assets
Basic financial assets. which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitules a financing transaction, where the transaction is
measured al the present value of the fvture receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future p8yments discounled at a markel rate of interest. Financial liabilities classified as payable
wilhin one year are not amortised.
Debt instruments are subsequenlly carried at amorti5ed cost, using ihe effective interest rate method.
Trade creditors are obligations to pay for goods or seNices that have been acquired in the ordinary course of
operalions from suppliers. Amounts payable are classified as current liabilities if payment is due wilhin one
year or less. If not, they are presenled as non-current liabilities. Trade creditors are recognised initially at
transaction pri￿ and subsequently measured at amortised cost Using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contraclual obligations expire or are discharged or
Cancelled.
1.11 Employee benefits
The cost ol any unused holiday entillement is recognised in the period in which the employee's services are
received.
Temination benefits are recognised immediately as an expense when the charity is demonstrably committed
to terminate the employment of an employee or lo provide temiination benefits.
Income from donations and grants
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Freewill offerings and
donations
In memoriam
Grants
SpeGial Collections
72,234
820
2,655
1,890
66,676
1,425
74,889
2.710
66,676
1,575
70,006
1.575
70.006
1.575
150
1,624
1,624
73,204
72,646
145,850
71,581
1,624
73,205

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from charitable activities
Unrestrlcted Restrictèd
funds
funds
2024
2024
Total Unrestrfcted Restrlcted
funds
funds
2023
2023
Totsl
2024
2023
Church
Sale of graves
Fundraising income
Gift aid income
1,760
1,802
65,117
1,760
41,670
65,117
690
361
690
23,130
39,868
22,769
68,679
39,868
108,547
1,051
22,769
23,820
Incorne from other trading activities
Restricted
funds
2024
Restricted
funds
2023
New Beginning5 shop income
51.262
47,871
11

vj
75
13 U)
Z5

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Other income
Unrestricted Unrestricted
funds
funds
2024
2023
Net gain on disposal of tangible fixed assets
140,468
Expenditure on charltable actlvlties
Church
2024
Church
2023
Direct costs
Diocesan assessment
Insurance
Rales
New Beginnings shop rent
Heating and lighting
Printing and stationery
Repairs and maintenance
Sundry expenses
Equipment
Bank interest and fees
Clergy expenses of office
Fundraising costs
Church cleaning
Special collections
Other charitable expenditure
69,367
5.185
1,879
3,300
3.503
818
65.092
4.825
1,919
3,300
1,813
473
686
637
270
190
5,285
2,160
1,040
800
29,161
1,156
162
4,628
360
1,072
635
6.484
98,549
117,651
Share of support and govemance costs (see note 81
Governance
1,200
1,500
99,749
119.151
Analysis by fund
Unrestricted fvnds
Restricted funds
89,330
10,419
85,620
33,531
99,749
119,151
13-

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Support costs allocatsd to activities
2024
2023
Governance costs
1,200
1,500
Analysed between:
Church
1,200
1,500
Net movement in funds
2024
2023
The net movemenl in funds is stated after chargingllcredilingl..
Fees payable foi the independent examination of the charity's financial
statemenls
Profit on disposal of tangible fixed assets
1,200
{140,468)
1,500
10 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the
charity during the year.
11
Employees
The average monthly number of employees during the year was=
2024
Number
2023
Number
Total
There were no employees whose annual remuneration was more than £60,000.
12 Other expenditure
Endowment Endovrtnent
funds
funds
2024
2023
Groundworks
Repalrs and maintenance
4,100
1,120
3,500
809
5,220
4,309
14-

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Gains and losses on Snvestments
Endowment Endovmient
funds
funds
2024
2023
Gainsl(losses) arising on..
Revaluation of investments
13,481
14 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
15 Tangible fixed assets
Leèsehold Assets under
land and constructlon
bulldlngs
Total
Cost
Al 1 January 2024
Additions
275,556
275,556
354,230
354,230
At 31 December 2024
275,556
354,230
629,786
Carrying amount
At 31 December 2024
275,556
354,230
629,786
At 31 December 2023
275,556
275.556
The assets of the Parish, retained for its own use comprise..
Church Building and Graveyard
Church Hall
Rectory
The Church Building and Graveyard are deemed to be Heritsge assets as defined by the Charities SORP
IFRS102). These Heritage assels are not included in the statement of assets and liabililies as infomiation on
Ihe cost or valuation is not available and such information cannot be obtained at a cost wmmensurate with
Ihe benefit to the users of the accounls and to the parish.
The Rectory is recognised at deemed Gost, being the eslimaled fair value of the property at 21 Main Street,
Eglinton, BT47 3AB. No depreciation has been provided on the Rectory as the current estimated residual
value is not less than it's carrylng value and the remaining useful life currenlly exGeeds 50 years.
15-

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Fixed asset investments
Unllsted
investments
Cost or valuation
At 1 January 2024 & 31 December 2024
159,134
Carrying amount
At 31 December 2024
159,134
Al 31 December 2023
159,134
17 Financial instruments
2024
2023
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
119,746
159,134
18 Debtors
2024
2023
Amounts falling due within one year:
other debtors
31,487
19 Creditors: amounts falling due within one year
2024
2023
Accruals and deferred income
600
20 Endowment funds
Endowment funds represent assets which must be held permanently by the chgrity. Income arising on the
endowment funds can be used in accordance with the objects of the charity and is included as unrestricted
income. Any capitsl gains or losses arising on the assels fomi part of the fund.
At 1 January
2024
Incoming
resources
ResoU￿e$
expended
Transfers
Gains and
losses
At31
December
2024
Permanent endowments
Endowment
lunds
Investments
12,098
159,134
4,077
(5.220)
10,955
119.747
152,868)
13,481
171,232
4,077
15,220}
152,868)
13,481
130,702
16-

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
20 Endovmient funds
Icontlnued)
Prevlous year:
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At31
December
2023
Pemianent endovmients
Endowment
funds
Investments
12,098
159,134
4,309
{4,309)
12,098
159,134
171,232
4,309
{4,309)
171,232
Income from RCBICIT unit trusts used lor mainlaining church grounds and graves.
21 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific conditions by donors as lo how they may be used.
At 1 January
2024
Incoming
resources
Resources
expended
Transfers
At31
December
2024
Bishop's Appeal
Building fund
Church ofthe Cross USA
Eglinton CU
Flood relief and insurance clairn
New Beginnings shop
R Cochrane - estate
R Driver- in memorium
RCB- Mind Matters
Reclor's challenge
Special collections
Youth worker funding
974
273,247
3,678
1,265
119,370
{6351
16,2341
1,604
488.013
3,678
101,630
500
(500)
46,293
46,293
51,262
{3,300)
147,962)
10,000
300
10,000
(300)
11,176)
(500)
1,176
500
2,210
10,000
160
2,370
9,750
(2501
347,202
173,733
{10,4191
51.192
561.708
17-

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
21 Restrlcted funds
IContlnued>
Previous year:
At 1 January
2023
Incomlng
resources
Resources
expended
Transfers
At31
December
2023
Flood relief and insurance claim
Building fund
RCB grant re church hall
New Beginnings shop
R Cochrane- estale
R Driver- in memoriam
Reclor's challenge
Church ofthe Cross USA
Special collections
Bishop's Appeal
46,293
185,600
47.584
10,000
300
soo
3,678
2,061
300
10,000
46,293
273,246
24,922
47,871
{25,993)
16.738)
88,717
{88,717)
10.000
300
500
3.678
2,211
974
10,000
150
1,474
{8001
306,316
74,417
(33,5311
347,202
18-

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
21 Restrlctod funds
(Continued)
Flood Relief and Insurance Claim.. A significant part of the village of Eglinton {including the homes of
parishioners, the Parish Church, and the Church Hall) was flooded in August 2017. This is a fund representing
donations received from parishioners, the Diocese and others to provide flood relief to those affected together
with an interim payment from the parish's insurers to help meet ongoing costs whilst the Insurance claim for
the damage to Church property is being settled.
The Building Fund.. St. Canice's Church buildlng and hall were badly damaged during flooding in the village in
Augusl 2017. The Building Fund was established to facilitate donations from parishioners who wished to
contribute to the enhancement of the church during its restoralion and Ihe potential new build of the church
hall.
R Cochrane - Estate.. These funds were donated to be used to fund activities and projects as detemiined by
the Rector.
R Driver - In Memorium.. These funds were donated to be used to fund activities and projects as determined
by the Rector.
Reclors Challenge= These funds were donated to be used to fvnd activities and projects as determined by the
Rector.
Church of the Cross USA- These funds were donated to specifically help with development activities in the
Parish.
Special Collections.. This is money collected to donate to a specific cause.
200th Anniversary Concert.. These funds were donated to specifically help with the costs of the 200th
Anniversary Concert.
Youth Worker Funding.. These funds were donated lo specifically help with the cost of a Youth Worker. A small
amount was allocated during the current financial year, but Ihese funds are earmarked for a future Youth
W0￿&r.
Building Fund.. These funds were donated to specifically help with the cost of building the new church hall.
Eglinton Credit Union.. These funds were donated to specifically help to address the needs of parishioners
over the winter time.
RCB - Mind Matters.. These funds were donated to be used specifically for aiding mental health within Ihe
congregation and communily.
19-

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
22 Unrestricted funds
The unrestricted funds of Ihe charity tomprise Ihe unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the Iruslees for specific purposes.
At 1 January
2024
In¢omlng
resources
Resources
expended
Transfers
At31
December
2024
General fund
Land and buildings
13,S411
275.556
282,375
{89,330}
1,676
191,180
275.556
272.015
282,375
(89.3301
1.676
466,736
Previous year:
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
At31
December
2023
General fund
Land and buildings
9,321
275,556
72,758
185,620)
{3,541)
275.556
284.877
72.758
185,620)
272,015
23 Analysis of net assets between funds
Unrestricted
funds
2024
Restricted Endowment
funds
funds
2024
2024
Total
2024
At 31 December 2024:
Tangible assets
Inveslments
Current assetsl(liabilitiesl
629,786
629,786
119,746
409.614
119,746
10,956
(163,050)
561,708
466,736
561,708
130,702
1,159,146
Unrestrltted
funds
2023
Restrlcted Endovfflient
funds
funds
2023
2023
Totsl
2023
At 31 December 2023:
Tangible assets
Investments
Current assetsl{liabilitiesl
275,556
275,556
159,134
355,759
159,134
12,098
{3,541)
347,202
272,015
347,202
171,232
790,449
20-

ST CANICE'S CHURCH OF IRELAND, FAUGHANVALE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
24 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
21