Bovevagh Parish Church Trustees, Annual report and Statement of Receipts and Payments and Assets and Liabrlitles For the year ended 31 December 2022 Charltles Number: 104871
Receipts and Payrnents Account for the year ended 31 December 2022 Unre5trirted Funds 2022 Restricted Funds 2022 Endowment Funds 2022 Total 2022 Totsl 2021 Recei Donation5 and plate collettion Gift aid Fabric and maintenance fund Bank and deposit interest Investment income Rental of premises Other receipts 36,308 5.921 2,618 106 2,296 5.978 15,361 2,853 39,161 5.921 2,618 106 41.290 6,394 2,925 128 2,132 9.784 6.809 2.296 5.978 19.899 4,538 Total Recei ts 68,588 7,391 75,979 69,462 Unrestricted Funds 2022 Restricted Funds 2022 Endowment Funds 2012 Total 2022 Total 2021 Vlsitlng Speakers Dlocesan Assessrnent Property Malntenance and Upkeep Utilities Administration Costs Sunday School Resources Organist Fees Charitable Donations Financial Charges 60 41.142 1.256 7,537 15,544 40.832 1,256 7,537 11,252 310 39,643 1,592 8.048 5.020 230 i.iio 2,650 108 4.292 1,540 2.500 tso 600 163 1,900 27 63.240 6.S29 69,769 58,481 Excess of Receipts over Payments for the year 6.210 10,981 On Behalf of the Trustees Rev Mark Loney. Rector Mrjonathan Wilson, Secretary
Staternent of Assets and Liabilities as at 31 Decefflber 2022 Unrestricted Funds 2022 Restrirted Funds 2022 Endowment Fund5 2022 Total 2022 Total 2021 Note Cash Funds Currenr Accounts Deposit Accounts IRCBI Total Cash Funds 65.978 576 66,554 60.344 65,978 576 66.554 60,344 Investment Assets Equity Investments Other Listed Investments Investments in RCB / CIT Unit Trvsts Other unlisted investments Investment Properties Totsl Investment 69,399 6.503 75,902 82,210 69.399 6.503 75.902 82,210 Assets retained for the Parish's own use Parish Centre Glebe Land Fixtures and Fittings Trtal Assets retained for the Partsh's own use 531.228 292.580 531,228 292,580 30.240 531.228 292,580 30,240 30.240 30.240 823.808 854,048 854,IM8 On Behalf of the Trustees Rev Mark Loney. Rector Mr Jonathan Wilson, Secretary
Note5 to the finanoal statements for thè year ended 31 De¢embeT 2022 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 Ststement of Assets and Liabilities: (al Receipts and Paymetits Account l items of income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basis. (b) Statement of Assets and Liabilities (li Assets retainedAor the Parish's own use The assets of the Parish, retained for its own use comprise: _ Church Building and Graveyard Parish Centre Fixtures and frttings The Church Building and Graveyard are deemed to be Heritage assets as defined by the Charities SORP IFRS1021. These Herita8e assets are not included in the ststement of assets and liabllitie5 as information on the cost or valuation is not available and such information cannot be obtained at a cost commensurate with the benefitto the users of the accounts and tothe parish. The Parish Centre was completed in 2012. Is reco8ni5ed at cost of construction. No depreciation has been provided on the parish centre buildings as the current estimated residual value Is not less than its carrying value and the remaining useful life currently exceeds SO years. Glebe Land was purchased by the Parish late 20201early 2021, usin8 funds previously invested with Representative Church Body IRCB). No depreciation has been provided on this land as the current estimated resldual value is not less than it's carrylng value and the remainin8 useful life exceeds 50 years. Fixtures and Fittings are included at the value used for insurance purposes. The Parish has set a minimum threshold of cost for an item to be considered to be capitslised as a fixed asset- i.e. not less than £l,OsXI. ii) Investments Fixed asset investments comprising investment in Representative Church Body IRCBIIChurch of Ireland Trustees Icin Unit Trusts are initially recorded at cost and are then subsequently stated at fair value at each year end date. The movement in the fair value from the start of the year to the end of the year represents capital payments to RCB and the change in book value where no money is received by the parish.
Notes to the finanoal ststements for the year ended 31 December 2022 (continued) Reconciliation of Cash Funds Total Cash Funds at Beginning of the year Receipts for the Year Payment5 for the Year Total Cash Funds at end of the year 75,979 169.7691 66,554 Movement in Funds Atljan 2022 Incoming Resources Outgoin8 Resources At 31 Dec 2022 Transfers Endowment funds Bequests and legacies 7.008 (5051 603 7,008 1505) 6,503 Restricted funds Parish Centre Glebe Land GB 531,228 292,580 531,228 292,580 S76 824,384 4,595 4,595 14,019) (4,019) 823,808 Unrestrlrted funds Fixtures and fittings RC8 investments Cl Trustees investments General Fund 30,240 67.854 7.348 60,344 165,786 30,240 62,961 6,438 65,978 165,617 14,8931 19101 165,7501 (71,5531 71,384 71,384 Total funds 996,602 75,979 (76,077) 996,504 ur oses of End wment Fund5 Income from bequests and legacies, where capital is to be invested and interest only is to be used for charitable purposes. Pur e5 Of Restricted Funds Parish Centre= this is a fund to provide facilities for use by the Parish and community. RC6 investments- this is a fund where capit31 is available for capital project and interest is used for charitsble purposes. Paue 111
Notes to the finanaal statements for the year ended 31st December 20221continued) Collettions for Third Parties 2022 2021 Shoeboxes Lord Enniskillin Orange Orphan Society CMS Ireland Bishops Appeal Ukraine 1.000 305 252 435 1,900 1.000 The above amounts have been included in Receipts forthe year under"Other Receipts" and in Payments for the year under"Charitable donations". 5. Tran5artions with the Ttee$ No trustee received any remuneration or reimbursement of expenses durin8 the year. No trustee or a person related to a trustee had any personal interest in any contrart or transactlon entered into by the charity during the year. 6. Governance Costs Governance costs of £1,050 were incurred during the year of which £1,050 relates to fees paid to the independent examiner. Governance costs are included within Admlnlstratlon costs in the Recelpts and Payments Accounts. 112