Charity registration number NIC104877 ALL SAINTS. CLOONEY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
ALL SAINTS. CLOONEY STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 DECEMBER 2023 Cuffent financlal year UnrÈstrieted Restricted Endowment funds funds funds 2023 2023 2023 Total Total 2023 Notes 2022 Income and endowments fro Donations and legacies Fundraising income Investments Other income 166,265 90,483 7,050 19,885 166.265 90,483 7.141 37.731 201.411 89,815 2,578 31.166 91 17,846 Total income 283.683 17.937 301,620 324,970 enditure on: Raising funds 8.650 3.839 Charitsble activities 276.124 18,316 294,440 292,717 Total expenditure 284.774 18,316 303,090 296,556 Net gainsl(losses) on investments 10 2.242 1,181 2,088 5,511 (12.015) Net incoming resources before transfers 1,151 802 4.041 16,399 Gross transfers between fijnds 490 (490) Net movement in funds 1,641 312 1088 4.041 16.399 Fund balances at 1 January 2023 835.860 306.682 69,506 1212,048 1.195,649 Fund balances at 31 December 2023 837,501 306,994 71,594 1,216.089 1.212.048 The ststernent of financial activ[tS includes all gains and losses recognised in the year. The ststement of financial activibes Indudes all gains armj lossts recognised in Ihe year. All income and expènditure derive from conb"nuing aaiwbes.
ALL SAINTS. CLOONEY STATEMENT OF FINANCIAL ACTivrriES {CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2023 Prior financial year Unrestricted Restrlcted Endowmènt funds lunds funds 2022 2022 2022 Total 2022 Notes In me and ndowments from: Donations and legacies Fundraising income Investments Other income 201.411 89,815 1,996 2,996 201,411 89,815 2,578 31,166 582 28,170 Total income 296,218 28,752 324.970 Ex enditure on: Raising funds 3.839 3,839 Charitable activittes 260,727 31,990 292,717 Total expenditure 264,566 31.990 296,556 Net gainslllossesl on investments 10 (6,818) 201 15,398) (12,015) Net incoming resources before transfers 13,037) (5,398) 16,399 Gross transfers beeen funds 133,611) 33,611 Net movemènt In funds (8.777) 30,574 (5.398} 16.399 Fund balan¢es at 1 January 2022 844,637 276,108 74,9D4 1,195,Wa Fund balances at 31 December 2022 836,860 306,682 69,506 1,212,048
ALL SAINTS. CLOONEY BALANCE SHEET ASAT31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets Investment propety Investments 12 14 13 629,419 100.000 176,808 629.419 100,000 171,296 Current assets Debtors Cash at bank and in hand 906227 900,715 15 6.067 309270 5,710 322.173 CredÉtors: amounts falling due within one year 315.337 327.883 16 5.475 16.550 Net rrent assets 309,862 311.333 Totsl assets less current Ilablllties 1216.089 1.212.048 The funds of the charity Endowment funds Restricted income fvnds Unrestricted funds 18 19 71.594 306,994 837.501 69,506 306,682 835.860 1216.089 1,212.IM8 The financial statements were approv8d by the trustees t)n 18 March 2024 Rev Canon David McBeth Trustee David Peoples Tnjstee
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollcles ChaTIty Inforniation All Saint5, Clooney Is an unincorporated company registered with the Charity Commission for Northem Ireland. The regi51ered office is 21 Glendermott Road, Dery-Londonderry, B T47 68B. 1.1 Accountlng conventlon The accounts have been prepared in accordance with the charity's governing document. the Charities Act (Northern Ireland) 2008 and "Accounting and Reporbng by Charities.. S18tement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabte in the UK and Republic of Ireland IFRS 102)" (as amended for accounting periods commencing from 1 January 2016). The Parish meets the definition of a public benefit entity under FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetsry amounts in these financial statements are rourKled lo the nearest £. The financial statements have been prepared under the historical cost convenb'on, Imodified to indude the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. 1.2 Golng concern The Parish generally meets rts day to day wcrfking c2Pital requirements from its annual income. The Trustees have obtained and reviewed cash flow forecasts for the coming year and based on these are satisfied that Ihe 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 statemenls have been prepared on a go9 concern basis. 1.3 Charltable funds Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted fijnds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separale fund. This designation has an administrative purpose only and does not legalty restrict the trustees. discretk)n to apply the fund. Designated funds comFyise funds which have been sel aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial slatements. ReStrted funds are funds subjecl to specffic requirements as lo their use which may be declared by th6 donor or with their authority or created through legal processes, but still within the wider objects of the Parish. 1.4 In¢omlng rnsources Income is recognised when the charity 15 legally entiued to it after any performance conditions hava been meL the amounts can be measured reliably, and it is probalje that income will be recerved. Cash donatiorts are recognised on receipt. Other donats.ons are recc*3nised once the charity has been notified of the donats'on. unless rfOrMance conditions requi deferral of the amount. Income tax recoverable in relabon to donations received under Gift Aid or deeds of covenant is recognised at the ts'me of Ihe donation. Legacies are induded within Income under either unrestricted or restricled funds according to the terms under vthrch the donation is made and when the amount can be quantified with reasonable certainty. Donations and gffts in kind are brought inlo the accounts at their fair value to the Parish. Income from g)vemmenl and other grants, whether'capital. grants or'revenue, grants. is recognised when the charity has entilemenl to the funds. any performance conditsons attached lo the grants have been met, it is probable that the inc(Kne will be received and the amount ¢an be measured re1lY and is not deferred. 10-
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policies {Continu•d) 1.5 Resources expondod Expenditure is retogniseil once there is a legal or constructrve obligation to make a payment to a third party. it probable that settiement wll be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activty for which the expendiiure was incurred. 1.6 Tangiblè fixed assets The assets of the Parish comprise the Church Buitding and the Rectory. The Chureh Building is deemed to be a Herrtage asset as defined by the CharFbes SORP (FRS102). The accounting policy for this asset is outfined at note 1.8 below. The Rectory is recognised at deemed cx)st. beiT¥J the valuation place(l on the prnpety for LopAI Property Taxj Rates wrtKJses. No depreCtion has been provided on the Rectory as the current estimated residual value Fs not less than its carryin9 value and the remaining useful life rrenty exceeds year5. The curatage is recognised at cost of acqui&b'on. No depreciatson has been provided for as the estimated restdual value is rt less than ils carying value and the remaining usefiA lrfe currenly exceeds 50 years. Office equipment is recognised at cost and are deprec3ated on a straight line basis over a period of 5 years. The assets residual values and useftjl lives are reviewed. and adjusted, rf appropriate, at the erhd of each reporting period. The Parish has set a minimum threshc4d of cost of £1.OCKI ft)r an item lo ¢onsidered to be capitalised as a fixed asset. Tangible assets are derecognised on disposal or when no fiJbJre economic bènefits are expected. On disposal. the difference beeen the new disFrf)sal proceeds and the carrwng amount is rec))gnised in the ststernerrt of financial actsvttEs and included in 'Other operating (lossesygains,. 1.7 Inve$trnent properfjès Fixed asset investmènts comprising investrnent properties. investments in equtb'es arKI investment in RCB/crr Unrt Trusts are initially recorded at w8t and are then subsequently stated at fair value at each balance sheet date. Investments in unquoted investments are rewrded at g)st and are assessed annually for impaiment. Unrealised gains and tosses represent the difference betsyeen the fair value at the beginning and end of the financial year or. rf purchased in the year, the differen between c¥>st and fair value at the end of th6 year. Realised gains and10sses represent the difference beeen the pro*eds on disposal and the fair value at the start of the year or cost rf purthased in the year. Both realised and unrealised gains and losses in investrnents are reported within °Net Gains l (Losses) on Investrnents" wtthin the Statement of Financial Activities. 1.8 Heritsge assets The Church Building is deemed to be a Herrtage asset as defined by the Charities SORP (FRS102). This asset is not induded on the balance sheet as infomiation on the cost or valuab.on is not available and such infomation cannot be obtained at a cost commensurate wilh the benefft to the us0 of the accounts and to the parish. 1.9 Cash and cash equivalents Cash and cash equivalents inctude cash in hand, deposits held at call with banks, other short-term liquid nvestrnents with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shovm viithin borrowings in current liabilFties. 1.10 Financial instruments The Parish only has financial assets arKI financial liabilrbes of a kind that qualfy as basic financial instruments. Basic financial instruments are initialty recognised at transaction price and subsequently rneasured at their settlement valuè. 11
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting poli¢ies (Continued) 1.11 Taxation All Saints, Clooney is recognised as a charity for the purposes of applicable tsxation leghslation and is therefore not subject lo taxatson on its charitable acbvities. 1.12 Employoe benefits The cost of any unused hol¥Jay entrtlement is reco9nised in the penod in which the employee's SeiCe5 are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate th8 èmployrrent of an employee or to provide tennination benefits. 1.13 Rètir•ment beneffts Payments to defined contribution retirement benefft schemes are charged as an expense as they fall due. Crftical accounting estlmates and Judgements In the application of the charitvs acrx)unts'ng policies. the trustees are required tr> make judgements, estimates and assurnptions about the carrying amount of assets and liabilities trtat are not readity appareni from other sources. The estimates and associated assumptions are based on histortcal experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The Èstimates and underlying assumptions are reviewed on an ongoing basis. Revision5 to accounting estimales are fecc*Jnised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donatlon6 and legacles 2023 2022 Donations and grfts Legacies receivable 166,265 151.411 50.000 166.265 201,411 Fundraising income Unrestricted Unr¢5tricted funds fund5 2023 2022 Fundraising events Amold House 9,686 80,797 9,215 80,6CMJ Fundraising income 90,483 89,815 12-
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from investments Unrestricted Restricted funds funds 2023 2023 Total Unrestrictèd Restrlcted funds funds 2022 2022 Total 2023 2022 Income from listed investments Interest cer¥able 91 2,081 5.060 1,699 297 582 5.060 2,281 297 7.050 91 7,141 1,996 582 2,578 Other income Total Unrestricted Restricted funds funds 2022 2022 funds 2023 Total 2023 2023 2022 Other income General parish income Extraordinary general incorne 3,049 31)0 1.111 375 1,111 17,846 18.146 28,170 16,536 16,536 1.510 1.510 19.885 17,846 37.731 28,170 31.166 Expenditure on raislng funds UnTrstricted Unrestricted funds funds 2023 2022 Fundraising and publicity SL7ging fundraisin9 events Amold House direct costs 1.200 2,639 7.100 8.650 3.839 13-
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expendlture on charltable activltks 2023 2022 Direct costs Staff costs Diocesan assessment Parochial ministry costs Charitable don81ions Administration costs 34,999 105,128 6,776 1.872 16.025 29.952 98.488 4,800 5,390 15,336 k ij Sundry costs Repairs l Upkeep Light, Heal and Power Legal & professional f8gS Bank charges 38.945 70,003 17,068 2,S25 1,099 49.879 63.642 18.119 6,127 294,440 292.717 Analysls by fund UnTestri¢ted funds Restr5Cted funds 276.124 18.316 260.727 31.990 294.440 292.717 Goveman¢e costs of £1.500 were incurred during the year in relation to fees paid to the independent examiner. Goveman¢e costs are included wilhin legal and professional fees. 14-
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Employees Number of employees The average monthty number of ernployees during the year was." 2023 Number 2022 Number Administration Music stsff Premises maintenance Youth worker Employmont Costs 2023 2022 Wages and salaries Other pension costs 34.632 367 29.163 789 34,999 29.952 There were no em 0yeeS wh05e annual remuneration was £60,( or more. 15-
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ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Taxation The charity is exgmpt from tsxation on its activities beeause all its income is applied for Gharttable purposes. 12 Tangible fixed assets Fmhold land •nd buildings Cost At 1 January 2023 629,419 At 31 December 2023 629,419 Carying amount At 31 December 2023 629.419 At 31 December 2022 829,419 13 Fixed asset investments CtT RCB General Investment Unit Trusts RCB re property Total Cost or valuation At 1 January 2023 Valuation changes 18.697 867 115.335 37.264 1,181 171.296 5.512 At 31 Drnber 2023 19.564 118,799 176,808 Carrying amouftt At 31 December 2023 19,564 118,799 176.808 At 31 December 2022 18,697 115.335 37,264 171.296 14 Investrnent property 2023 Fair value At 1 January 2023 and 31 Oecember 2023 100,000 17-
ALL SAINTS, CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 15 Debtors 2023 2022 Amounts falling due wlthln one year: Other debtors Prepayments 5,320 747 5,012 698 6,067 5.710 16 Credltors: amounts falllng du• wlthln one year 2023 2022 Accruals and other creditor5 5,475 16.550 17 Retirement bonefft scheme5 Defined contrlbuiion schemes The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the . scheme are hek1 separately from those of the charity in an independently administered fund. The charge to profft or loss in respect of defined contribution s¢hemes was £367 {2022 - £789). 18 Endowmont funds ErMJowTnenl funds represent a55ets which must be held permanently by the charity. Income arising on the endowment funds can be used in aco)rdance wlth the objects of the charity and 15 induded as unre5trict8d income. Any capitsl gains or losses arising on the assets fom part of the fund. At 1 January 2023 Galns and losses At31 O•eember 2023 Permanent endowments RCB Unit Trusts 69.506 2.088 71.$94 Previous year. At 1 January 21Y22 Galns and 106s06 At31 December 2022 Permanent •ndowm•nts RCB Unit Trusts 74,S4)4 15,398) 69,5QhS 18-
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Restricted funds The restricted funds of the chartty comprise the unexpended balances of donations and grants held on trust subje¢t to specific conditions by donors as to how they may be used. At 1 January 2023 Incoming resour¢es Resour¢es expended Transfers Gains and At31 losses December 2023 Sunday School 904 135 70 974 141 502 Fabrtc Youth Club Property fund Charities & Missions Parish Trip Men's Shed Mission Centre Minds Matter 1S 301A91 1.181 302,672 (29) 17,846 (29) (17.846> 314 2.000 (490) 314 1.530 {470) 306,682 17,937 (18.316) (490) 1.181 306.994 Previous year. At 1 January Incoming Resources 2022 resources expended Transfers Gains and At31 December 2022 Sunday sthl Choir Fabric Youth Club Propety fiJr Charities & Missions Parish Trip Men's Shed MissFon Centre Community Choir and Book Crib 313 37 (215) 135 45Q 267,679 450 301,491 33,611 201 (29) 13.770 12,400 (13,TlO) (18,005) (29) 440 490 314 6.095 314 2.000 276,108 28.752 (31.990) 33,611 201 306.682 19-
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 20 Unrestrlcted funds At 1 January 2023 In¢oming Resources rosource$ •xpended Transfèrs Gains and losses At31 December 2023 General funds 835,860 283.683 (284,T14) 2,242 837,501 Previous year: At 1 January 2022 Incoming resources Resources expended Transfers Gains and 105$es At31 December 2022 General funds 844.637 296,218 {264,566) (33.611) 16.818) 835,860 21 Analysi$ of net assots between funds Unrestrlctèd - Re$triGted Endowment General funds Total Fund balances at 31 December 2023 are represented by: Tangible assets Investment opertieS Investments Current assetsl{liabilities) 629,419 100,000 66,769 41.313 629,419 100,000 176,808 309.862 71.594 268.549 837.501 306,994 71,594 1,216,089 Related party transactions There were no disclosable related paty transacttons during the year12022 - none). -20-