ALL SAINTS. CLOONEY STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 DECEMBER 2024 Currfjnt financlal year Unrtstricted R•strlcted Endovfflient funds funds funds 2024 2024 2024 2024 2023 Income and endowments from: Donab"ons and legacies Other trading activities Inv8Stm8nts Other ino)me 155.802 104,553 1922 158,n4 104.553 STO 42.977 1e8.265 90,483 7,141 37,731 19,549 Totsl Incom• 284.353 21471 306,824 301,620 Exp•nditur• on: Raising funds Charttable a(thitles 9,803 302,897 9.803 323.132 8.650 20235 Total •xp•ndltur• 312,700 20235 331935 303,090 Net galnsl(losses) investrrts 11 1,047 2.375 5,511 N•t Incomel(•xpendlture) (27AOO) 1J28 (23,n6) 4.041 302.6n (302,6n) Net rnovem¢nt in fund* 2743n {300A36) (23,736) 4.041 RenCIliatIon of funds: Fund balances at 1 January 2024 837,501 71,S94 1216,089 1,212,048 Fund balancu at 31 December 2024 1,112.873 72.922 1,192.353 1,216,089 The statement of finanoal activitles incknles all goi ke$ reeognised In the year. All income and eXpandire derive from conlinuirnJ activits'es.
ALL SAINTS. CLOONEY STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Prfor flnanclal y•ar Totsl fund• 2023 fvnds 2023 lund• 2023 2023 Incom• and •ndowm•nts from: Donations and legacies Other trading 8ctivibe8 Inve8tments Other incomè 166.265 166,265 7.050 19.885 91 17.846 7,141 37,731 Total Incorn• 283.683 17,937 301.620 Exp•ndltur• on: Ralslng fijnds Charitable activlti88 8,850 276.124 8,850 18,318 Totsl •xp•ndltur• 284,774 18,318 303,090 Net gain&l(l0ss) on Inva8tments 11 2,242 1,181 2.088 5.511 N•t Ine¢xn• 1,151 4.041 Transfers betn lund8 (49)) N•t rnov•mont In fvnd• 1.641 312 2.088 4.041 R•conclllatlon of fvnd•". Fund balances at 1 January 2023 835.860 306.682 1.212.048 Fund balanc•• at 31 D•e•mb•r 2023 837,501 71,594 1,216,089
ALL SAINTS. CLOONEY BALANCE SHEET AS Af 31 DECEMBER 2024 Tangible assets Investrnent pfopwty Inv6Stments 13 15 14 956,683 100,000 81947 629,419 100,000 176.808 1.139.630 6227 Curr•nt ass•ts Debtors Cash at bank and In haThJ 16 6,067 309,270 315,337 Credltors: amounts falllng duo wlthln ymr 17 (147 (5,475) N•t curr•nt •M•ts 4723 Total a•s•ts l•M cuTr•nt Ilablllll•8 1.192J53 1,216,089 1,192A53 1.216.089 Th• lund• of th• charlty Endowrmnt funds 71.594 306,994 837,501 Unrestricted funds 1.112.873 1.192,353 1.216.089 41tr¢ Rev Canon Davld McBeth David Peoples
ALL SAINTS. CLOONEY BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 Crltlcal accountlng ••tlmat•8 and Judym•nts In Ihe appllcation of the charitls accounting polictes, Ihe trustees are required to make judgements, esUmat8s and assumptions about Ihe carying amount of assets and liabilities that are not readlty apparent from other sources. The esb'mates and associated assumptions are based on historical experfence and other factors that are rnnsidered to be relevant. Actual reth may differ from ts88 8Sttmate8. The estlmatas and undertylng assunykns arn re¥0d M an ongolng basls. Revl8lons to accountlrKJ 88tim8t8s are recgjgnised In the period in which the 8stimat8 is revised there the revision affects only that period. or in the period of the revision and fulure P'¢xIS whwe the revision affeL#s both rrent arKI future perlods. Ae¢ounlln9 pollcl Charfty Inforniatkni I Saints. Clo)ney is an unina)rFx)raknJ oxnpony registered with the Charity Commi88ion for Northom Ireland. The registered office is 21 GleTem70tt Road, DerrrLondondery. BT47 6BB. 2.1 Accountlng conv•ntlon Th8 accounts have been wepared In acxordance with the taniYs governing d0Ment, the Charllles Ac {North8m Irelarwj) 2008 and "Accounting and Rep.n9 by Chariti8s: Statement of R8c£mm8nd8d Practice applicable to tharities preparlng their acc4)unts in accordance wilh the Financial Reportlng Standard applicable in the UK and Republic of Ire18nd (FRS 102r (as amended for attounting periods cnmmenci from 1 January 2016). The Parish rneets the definltson of a publi¢ beneflt entity under FRS 102. The financial slatements are prepared in sterling, which is the functi81 ajrrency of the tharity. Monetary amounts in these financial statements are roundod to the near88t £. The financial staternents have been preparad under the historical ¢x)st conv8ntlon, [modffied lo Indude tho revaluation of freehold properties and to indude investment properti88 and certain financial in8truments at fair value]. The principal arwunting pdicies adopted ar8 Set out below. 2.2 Golng conc•rn The Parish generally meets its day to day working pital r8quirements trom Its annual Income. The Trustees have obtsinad and reviewed cash flow forecasts for the cx)ming year and ba8ed on these are satiSfd that the Parlsh has resources to provide a reasonable expectation that it can (Ktinue to meet Its flnancial obllqatlons as they f811 due for the foresee¢ fire . Therefore those flrAndel statement8 have been prepared on going concern basls. 2.3 Ch•rliabl• fund Unrestrict8d funds are expendable at the discretion of the trustèès in furtherance of the objects of the ch8rity. If parts of the unrestrlcted fijnds are earmarked at the disttetion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose onty and does not legally restrtct the tru8t888' digcretion to apply the fijnd. Deslgnated funds comprlse fvrKls which have been Set aside at the dlscretlon of the INst8e8 lor 8peafic purposes. The purposes and usés ol the deslgnated funds are set wt In th8 notes to the flnanci81 statements. R8Stricted funds ar8 funds subjed to speufic requirements as to thelr use whlch vnay be declared by th6 donor or with their authority or created through legal processes. but still wilhin the wider objects of the Parish. 2.4 In¢omlng r••our¢•8 Inrnme is recognised wh8n the chorfty1$18gally entttled to tt after any performance corKlltlon8 have been mei the amounts can be measured reliably. and it is probable that income will be received. 10-
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting polici (COnllnuj of the donation. unless perfornnce cx>ndibons requre deferral of the amount. Inwne tax r8coverabl8 in relation to donati received under GiftAid deeds of cx)venant is re(x)gnised at the time of the donation. Legacies are Induded Ino)me under either unrestric or restricted fvnds aLror(liry to the tenns under whlch the donatlon Is made and when the arnount can be quantified reag¢Jwble certalnty. D(oOn$ and gits in kind are brought into Uie accrwÈts at their fair value to the Parish. the tharity has entitlement to the fvnds, any perfOrnn corKlith3ns attached to the grants have b6en meL it is probable that the in(x)tTE wlll rec£ived and the amount (an be measured reliably and is not deferred. Expenditure ts re(wnis8d On Ihefe is a legal ty constructive obly1( to make a PaYrt to a third paty, it is probable that settlement will be required and the amount of oblwatiM can be measured reliably. Irrecoverable VAT is (arged as a cost against the acbvity for vthich the expenditure vras incurred. 2.6 Tangibl• fv•d ass•ts The propety assets of the Parlsh the Churth Buildff. the Rethy, the Curatage and the charlty shop at Arndd House. Th8 Church Buildlng is deemed to be a Herltage asset as defined ty the Charitles SORP (FRS102). The accounting policy for this asset is outlined at rKte 1.8 below. The Rectory is rew3nised at deemed cosL being the valuabon placed on the for Local Property Taxl Rates purposes. No depreciatlon has been w0ded on the Re(knry as the Thent estimated resklual value is not less than its carrying value arml ts remainirYJ useful lile ujrrenty exceeds 50 years. The curatsge is recc•Jnised at cost of ao]uisrlion. No depre01ali< has been provKled for as the 8Stimat&l residual value is not less than ts (xrying value and Ihe remaining usefvl life rrenty excèeds 50 years. Motiy vehicles are recogrised at Ix)st and are deweciated on a reAlucirvJ balance basis at a rets of 20%. Office equipment is recognised at cost and are deyeoated on a straight line bas15 over. The assets resmdual values and useful Ilves are revieed. and adjusted. rf appropriate. at the erMI of eath reporting pewiod. The Parish has set a minimum threshold of cx)st of £1.OCK) for an itern to (nsits to be capitslised as a fixed Freehold land and bulldlngs Fixtures. fith'ngs and equipement Motor vehides Nll - 2% strdight line 10% straaht line 20% straight line Tangible assets are derecognised on disposal or wtw) no fulure economic beneffts are expecte(l. On disposal. the difference betwoon the new 1¥1 IKrxxds and the rarying amount 18 tecognised in th• ststement of finandal adfvitles arnl indud&a in 'Other operthirJ (kwsygalrts.. 11
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢countlng polkl IConllnu•d) 2.7 Inv••tm•nt prop•rtl•• Fixed aet investrnents comprlsing investhent propertr'es. Investments In equltm arKI investment in RCBI CIT Unit Trusts are inlt1811y recorded at cost and arg then subsequ8nlly stated at fair value at each balanc8 8h¢et date. Investrnents in unquoted investrnents are re¢ded at LX)St and are assessed annualty for ImpalmnI. Unrealis8d gains and losses represent the dlfference between the falr value at the beglnning and end of the financ281 year or. rf purchased in the year, the differenr betrween cost and fair value at the end of Ihe year. Realised galns and loss88 represent the dlfference between the ryoc8eds on disposal and the falr vabue at the Stsrt of the year or u)st If purcha8ed in the year. Both realised and unreali$8d gains and loss88 in Investrnents arn reported wlthln "Net Gains 1 (Los808) ¢)n Inv88tmants' thIn the Ststement of Flnanclal ActlvlUo$. 2.8 H•rftag• ••1 The Church Buildlng Is deemad to be a ltage asset a$ deffined by the Charflies SORP (FRS102). Ths asset is not induded on the balance strwt as inf0mli on tr* cost or valuation is not avallable and such Inforniation cannot bo obtsined at a colt comrnen8urale wlth thg benofft to tho u8er8 of the accounts and to the parish. 2.9 Ca•h and ca•h •qulv•l•nts Cash and cash 8quiv818nts indude cash in hand. depo&ts held at call wth banks, other short-term IiquKI Investrnents with orlginal maturilie3 of three month8 w less. and bank ovwthafts. Bank ovgrdr8ft3 are 8hown 1hin borrowings in current Itabilities. 2.10 Fln•n¢lal In•trum•nts The Parlsh onty has financial assets and financial liabilitles of a klnd that quallfy as basic tlnancial Instruments. Basic financial in8trum8nts are Inlbally recognised at tranwtion price and 8ubs¢quenty measured at their setuement value. 111 T•x•tlon All Saints, CIoDney 18 rocognised 88 8 charlty for the purposes of applicable taxation Jegislat'cn and Is therefore not Subj'ect to taxation on its charitable activlOe8. 2.12 Ernploy•• b•n•fft• Th8 (xAt ol any unused holklay entltl•ment18 r•cognlsod In the pgrlod In vthlth th• ompkJy•o's 88rvlc•8 ar• recelved. Termlnauon benefft8 are racognlsed immedlately as an expense when the charlty Is domonstrably commltted to terminate the employment of an employee or to pffjvlde temlnation beneflts. 2.13 R•tlr•m•nt b•n•ffts Paymonts to d•flned contrlbutlon rntlrem•nt b8nafft Schrn arn thrged as an experlso they fall due. Incom• from donatlom and l•g•¢1•• Unr••trlct•d RMtrlct•d funds fundA 2Q24 2024 Totsl UnrMtrlct•d Rutrlct•d fund• lund• 2023 2023 Total 21124 2023 DcThtlon8 and gift• 1 $5,802 2,922 158.724 166.265 166,265 12-
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Incom• from Investments Totsl funds funds 2024 lunds 2023 ' funds 2023 2024 2023 Income from listed investments 91 2,081 570 7,050 91 7,141 fund• funds 2023 FN1raisirwJ events Amold H¢xts8 13.774 90.779 80,797 Fundralslng Inc(xne 104553 funds 2024 fund• nd* 2023 funds 2023 2024 2023 11n 1178 3.049 3,049 18,146 General parish Income ExtraInary general in¢ 19,549 17,846 19.900 19,900 16.536 16,536 19.549 41977 19.885 17,846 37,731 13-
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 ExndItur• on ral8lng fvnds Unrnstrlct•d Unr•strlded lunds fund* 2024 2023 Fundrnlslng and publlclty Staging fundraising events Oih6r fundraisiThJ costs 2.615 7.188 1,550 7,100 9.803 8,650 2024 2023 Dlr•ct costs Stsff costs Deveciat and imp8lment Dlocesan assessmant Parothial ministy Costs Charttable donations Administration costs SurKlry costs Ropalrs l Upkeep Lighc Heat and Power Legal & wofessional fees Bank charges Motor expenses 8.075 108,043 4,241 8,184 22,557 42,807 00,991 20.106 4.216 105,128 6,776 1,872 16,025 38.945 70.1)03 17.068 2,525 1,099 323.132 294,440 Amlysh by fund Unrestri¢ied fund8 R8strlcted funds 302,897 20.235 276.124 18,316 323.132 294,440 Govemanco (>)sts of £1.500 were incurred during the y8ar in relation to fees paid to ts Indep8ndt examnor. Governance costs are induded within legal and WOfesnal fees. N•t mov•m•nt In lund8 2024 2023 The net ffrt)vement In fvnd¥ 18 slated aftgr chargIrw(tt1tt1T¥a}. Depredation of owned tangible fixed assets 8.075 14-
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Employg Number of omploye88 T1 avw rrM)nthty number of ernpbyeas during the year was: 2024 Number Number AdMlStratIon Music staff Prernises malntenance Youth w(*ker Employment costs 2L124 2023 Wages and salaries 38,707 1,378 34.632 367 There no employees whose anThJal remuneralim was £60,IXK) lx WKKe. 15-
ALL SAINTS. CLOONEY NOTES TO ThE FINANCIAL STATeMEpif8 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 1.•47 2242 1.181 *511
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Taxatlon Tho (arlty Is exww from laxali(m on Its actsvib becaw 811 its incune is applied for dritable purposes. 13 Tanglbl• rd asmts Totsl Al 1 knuary 2024 Additlons 629.419 304.089 629.419 335.339 25,OCKI 6,250 At 31 Dec 2024 933.508 25.1 6,250 964.758 5.575 1.250 8.075 At 31 Decornber 2024 5,575 1.250 1.250 8.075 Carrylng amount At 31 DacembeA 2024 927.933 23.750 5,000 956,rA3 629.419 629.419 CIT RCB G•n•ral RCB r• Inv•gtThnt Unlt Trusts prop•rty Total Cost or valuatlon At 1 January 2024 Valuation (arvJes 19.564 118.799 1.139 (47.016) 176.808 2.375 (38M46) (96236) {10.7T5) At 31 Decemlw 2024 10.025 82.947 Carrying amount At 31 D8mber 2024 10,025 72822 82,947 At 31 Decern 21Y23 19.564 118,799 176.808 2024 Falr valu• At 1 January 2024 and 31 DeCnb 2024 100.000 -17-
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 D•btor• 2024 2023 Amounts falllng du• wlthln on• y••r. Olher debtorn Prepayments 7.920 5,320 747 6,087 17 Cr•dltorn: amounts falllng duo wfthln on• y•v 2024 2023 Accruals and othor credltors 16.785 5.475 18 R•llr•m•nt b•n•fft •ch•m•s 2024 2023 D•fin•d contrlbullon hoM Charge to profrt or loss in rwt of defined ccffltribution 8tham88 1,378 367 The charity operates a defined contributim pension sLwne for all quallfying employe88. The a86et8 of th• schorne are held separately from those of1he (arity in an indep8rthnty administered fvnd. 19 Endowm•nt fund• Endtrlent funds represent a&88ts which rnust be held pemianenlly by the tharity. Incorne arislng on the endowment fvnds Can b8 used in accordance with the objects of the charity and ts Induded as unr88trictod inc¥xne. Any capital gains or10sses arising on the assets form part of the fund. At 1 January 2024 G•ln• and At31 D•c•mb•r 2024 P•nnan•nt •ndOn•nts 71,594 1.328 72,922 Pr•vlou• y•ar. At 1 January 2023 Galns arml At31 los••s D•c•mb•r 2023 P•rman•nt •ndOntI RCB Unlt TNsts 69.51 71.594 18-
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (COKnNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The restri funds of th8 tharity ovnlSe the unexpended balan( of donations and grants W on trust subjeca to ldItIOnS by donors as to h(yw they may be used. At 1 January Incomlng Resour¢es Trfern Galns and 2024 resources •xpended At31 DKomber Sunday Sthool Choir Fabric Youth Club Propwty fijnd Charhies & Missions Parish Trip 974 12) 502 502 302.672 (3016n) (29) 666 314 19.549 119.323) 314 1,530 MirKts Matter Church Organ Fund Kneelers 300 22.471 (202 (302,672) Prevhyus year. At 1 January Incoming Resources Gains and At31 Docember 2023 Sunday School Choir Fabric 70 974 141 502 135 15 Club Propety fij Charities & Missions Parish Trip Men's Shed Mission Centre Minds Matter 301.491 1,181 302,672 {29) (29) 17.846 (17.846) (4) 314 314 1.530 (470) 17.937 (18J18) (490) 1.181 )6.994 The balan on the propety fvnd was transferred to Unles funds fthrfng the purcha8e of Arnold Hwse which it vas used to fund. 19-
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Unr••trfctsd fund• At l January Incomlng R•Sourl 2024 ruourc•s axp•nd•d Tran•f•r4 Galn• •nd At31 lou88 D•c•mb•r 2024 Tanglble flxed assets fund Genar funds 1.056.883 (754.011) 1,056.883 56,190 837.501 204,353 (312.700) 1,047 837,501 (312,700) 302,672 1,047 1,112,873 Pr•vlou• y•ar. At 1 Janu•ry Incomlng R••ourc•8 Trw•f•rn Galns and At31 D•c•mb•r 2023 General fvnds 283.683 (284.774) 490 2,242 837,501 An amount of £302,672 was transferred frrffi tho restr property fund to fvnd ts purch88e of Arnokl House. The Tru8tees have gub8equently tran8fwrnd the value of all fixed into a do8ignat8d fixed 888•t fvr. 22 An•tysl8 of n•t •••ots b•tthwi funds Unrn8trlct•d R••trlct•d Endowm•nl funds funds fund8 2024 2024 2024 2024 At 31 D•c•mb•r 2024: Tangible assets Investment profvrties Investrnents Currant 8888t&l(Ilabllltle8) 956.883 100,1)00 10,025 46,165 956.683 100.000 82,947 $2,723 72.922 1.112.8n 72.922 1,192,353 Total fund• 2023 fund 2023 fund• 2023 2023 At 31 D•¢•fflb•r 2023: T*nglble 8S8ets 629.419 1,CAy) 86.769 41.313 629.419 100.000 176.808 309,862 Inve3trnènts Current a886tsl(IlaNitle8) 71.594 268.549 837,501 71.594 1,216,089
ALL SAINTS. CLOONEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 -21