Rossorry Parish Church
Statement of Financial Activities
For the year ended 31 December 2024
Unrestricted
Funds
2024
Restricted
Funds
2024
Endowment
Funds
2024
Total
2024
Total
2023
Notes
Income
Donations and legacies
other trading activities
Investments
Charitable activities
Total income
125,700
1,545
71,633
2,500
128,200
1,545
72.842
141,320
1,745
66,103
1,209
682
682
200 088
3,709
204 479
212 720
Expenditure
Charltable activities
Total expenditure
161 836
161 836
167 295
167 295
161 984
161 984
Net Income / (expenditure)
before transfers
38,252
(1,106)
38
37,184
50.736
Transfers between funds
Net Income / (expenditure)
before other recognlsed
gains and losses
38,252
(1,106)
38
37,184
50,736
Net gains / (losses) on
investments
35
25,161
10,750
35,946
33,846
Net movement in fund$
63.413
(1,071)
10,788
73,130
84,582
Reconclllation of funds:
Total funds brought forward
2,052,619
50,238
504,122
2,606,979
2,522,397
Total funds carried forward
2,116,032
49,167
514,910
2,680,109
2.606,979
CavanaghKelly°

Rossorry Parish Church
Statement of Financial Position
For the year ended 31 December 2024
Notes
2024
2023
Fixed Assets
Tangible fixed assets
Investment Properties
Investments
io
673,847
672,987
li
1 402 515
1 364 569
Total flxed assets
2 076 362
2 037 556
Current assets
Receivables
Cash at bank and in hand
12
19,891
585 156
19,148
551575
Total current assets
605,047
570,723
13
Payables- amounts falling due withln one year
Net current assets
603 747
569 423
The funds of the charity (parish)
2 680 109
2 606 979
Unrestrlcted Funds
General
Deslgnated
Total unrestricted funds
2,052,619
2,116,032
2,116,032
2,052,619
49,167
50,238
Restrlcted Funds
504 122
Endowment funds
514 910
Total charlty funds
14
2 680 109
2 606 979
The notes on pages 11 to 20 are an integral part of the financial statements.
These financial statements were approved by the Board of Trustee5 on 28 March 2025 and signed on its
behalf by..
obert Elliott
Honorary Treasurer
Mrs Dorothy Helen Wilson
Honorary Secretary
CavanaghKel
10

Rossorry Parish Church
Notes to the Financial Statements
For the year ended 31 December 2024
I. GENERAL INFORMATION
Rossorry Parish is a Church of Ireland parish registered as a charity in Northern Ireland. The address of the
registered office is as shown on page 3.
The parish constitutes a public benefit entity as defined by FRS 102.
2. ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the
preparation of the financial statements are as follows..
2.1 statement of Compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charites:
statement of Recommended Practice (SORP) applicable to charities preparing their financial statements in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
effective l January 2019 (Second Edition), the Financial Reporting Standard applicable in the United Kingdom
and Republic of Ireland (FRS 102} and UK Generally Accepted Practice.
2.2 Basls of Preparation
The financial statements have been prepared on a going concern basis under the historical cost convention
unless otherwise stated in the relevant accounting policy. Historical cost is generally based on the fair value
of the consideration given in exchange for assets. The following accounting policies have been applied
consistently in dealing with items which are considered material in relation to the charity's financial
statements,
2.3 Preparation of accounts on a golng concern basls
The parish generally meets its day to day working capital requirements from its annual income. The trustees
continually review the parish's finances and are satisfied that the parish has resources to provide a reasonable
expectation that it can continue to meet its financial obligations as they fall due for the foreseeable futu re.
Therefore, these financial statements have been prepared on a going concern basis.
2.4 Cash Flow Statement
The charity has applied Update Bulletin 2 as published on 5 October 2018 (effective l January 2019) and
does not include a cash flow statement on the grounds that it is applying FRS 102 Section IA.
2.5 Income
Plate collections, Freewill Offerings, graveyard income, hire of hall and donations are accounted for on a cash
receipts basi5 a5 the amount5 are colletted. Legacies are included in income according to the term5 under
which the donation is made and when the amount can be quantified with reasonable certainty. Income from
charitable activities includes income received under contract or where entitlement to grant funding is subjett
to specific performance conditions. It is recognised as earned as the related services or goods are provided.
Grant income included in this category provides funding to support projects and is recognised where there
is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
CavanaghKelly"
11

Rossorry Parish Church
Notes to the Financial Statements
For the year ended 31 December 2024
2.6 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party,
it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the attivity for which the expenditure was incurred.
2.7 Tangible fixed assets
The assets of the parish comprise:
Church building and graveyard;
Parish hall.
Rectoryi
Sexton's house;
Fixtures and fittings.
The church building and graveyard are deemed to be Heritage Assets as defined by the Charities SORP (FRS
102). These heritage assets are not included on the balance sheet as information on the cost or valuation is
not available 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 built in the 1960's. It is recognised at a deemed cost. No depreciation has been provided
on the hall as the current estimated residual value is not less than its carrying value and the remaining useful
life currently exceeds 50 years.
The rectory and sexton's house are recognised at deemed c05t, being the estimated fair value of the property
at 31 December 2017. No depreciation has been provided on these buildings as the current estimated residual
value is not less than its carrying value and the remaining useful life currently exceeds 50 years.
Fixtures, fittings and equipment are written off as an expense in the year of purchase.
Investments
Fixed asset investments comprising investment properties, investments in equities and investment in
Representative Church Body and Church of Ireland Trustees Unit Trusts are initially recorded at cost and are
then subsequently stated at fair value at each balance sheet date. Investments in unquoted investments are
recorded at cost and are assessed annually for impairment. Unrealised gains and losses represent the
difference between the fair value at the beginning and end of the financial year or, if purchased in the year,
the difference between cost and fair value at the end of the year. Realised gains and losses represent the
difference between the proceeds on disposal and the fair value at the start of the year or cost if purchased
in the year. Both realised and unrealised gains and losses in investments are reported within -Net Gains /
(Losses) on Investments" within the Statement of Financial Activities.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, Other short term highly
liquid investments and bank overdrafts. Bank overdrafts are shown within Creditors Amounts falling due
within l year.
CavanaghKelly"
12

Rossorry Parish Church
Notes to the Financial Statements
For the year ended 31 December 2024
2.10
Financial instruments
The Parish only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at transaction price and subsequently measured at their
settlement value.
2.11
Fund Accounting
Funds are classified as either restricted or unrestricted, defined as follows:
Restricted funds are funds subject to specific requ7￿MentS as to their use which may be declared by the
donor or with their authority or created through legal processes, but still within the wider objects of the
parish.
Endowment funds are funds which have been given on the condition that the original capital sum is not
reduced but the income is used for the purpose defined in accordance with the objects of the parish.
Unrestricted funds are expendable at the discretion of the trustee5 in furtherance of the objects of the charity-
If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose,
they are designated as a separate fund. This designation has an administrative purpose only and does not
legally restrict the trustees, discretion to apply the fund.
2.12
Taxation
As a charity, the parish is not liable to Income or Corporation Tax.
Crltical accounting judgement and estimation uncertainty
Estimates and judgements made in the process of preparing the financial statements are continually
evaluated and are based on historical experience and other factors, including expettations of future event5
that are believed to be reasonable under the circumstances. The trustees do not consider that there are any
critical judgements made in applying the Parish's accounting policies or that there are any critical accounting
estimates or assumptions which may have a significant risk of causing a material adjustment to carrying
amounts of assets and liabilities within the next financial year.
CavanaghKelly"
13

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Rossorry Parish Church
Notes to the Financial Statements
For the year ended 31 December 2024
6. Expendlture
Unrestrlcted
Fund
2024
Restrlcted
Funds
2024
Endowment
Funds
2024
Total
Total
2024
2023
6.1 Church and grounds
Water charges
Repairs and maintenance
Heat, light and power
Grounds maintenance
Books, literature, etc.
Music, choir, and M-Blaze
Visiting clergy and
preachers
Bible Club, Sunday School,
and Confirmation Class
Miscellaneous
98
3,364
7,147
5,242
490
8,069
820
98
3,364
7,147
5,242
490
8,069
820
113
945
7,848
3,870
738
6,127
896
371
371
1,487
517
26,118
517
26,118
23,483
Unrestricted
Funds
2024
Restricted
Funds
2024
Endowment
Funds
2024
Total
Total
2024
2023
6.2 Parochial Hall and grounds
Heat, light and power
Water charges
Repairs and malntenance
Grounds maintenance
Miscellaneous
2,270
121
2,270
121
2,301
95
1,665
792
4,445
9,298
1,477
990
653
1,477
990
653
5,511
5,511
Unrestrlcted
Funds
2024
Restrirted
Funds
2024
Endowment
Funds
2024
Total
Total
2024
2023
6.3 Rectory and grounds
Rates
Heat, light and power
Repairs and maintenance
Grounds maintenance
Miscellaneous
1,067
1,506
152
1,682
6,461
1,067
1,506
152
1,682
6,461
1,024
1,584
2,063
1,392
6,823
CavanaghKelly'
17

Rossorry Parish Church
Notes to the Financial Statements
For the year ended 31 December 2024
Unrestricted
Funds
Restricted
Funds
2024
Endowment
Funds
2024
Total
Total
2024
2024
2023
6.4 Caretaker's / Sexton's house
Rates
434
434
416
Repairs and maintenance
243
173
1,612
1,612
Unrestrlcted
Funds
2024
Restricted
Funds
2024
Endowment
Funds
2024
Totsl
Total
2024
2023
6.5 Parish office
Salarles and PAYE / NIC
Rent
Heat, light and power
Telephone and broadband
Grounds maintenance
Repairs and maintenance
13,261
2,600
1,304
837
990
60
13,261
2,600
1,304
837
990
60
13,417
2,600
2,492
1,043
792
337
CavanaghKelly"
18

Rossorry Parish Church
Notes to the Financial Statements
For the year ended 31 December 2024
7. Net gains / (losses) on Investments
2024
2023
Unrealised fair value gains / (losses) on investments
Taxation
Rossorry Parish Church is recognised as a charity for the purposes of applicable taxation legislation and
is therefore not su bject to taxation on its charitable activities.
9. Analysis of staff costs
2024
2023
Administration salaries
The average number of employees during the year was one, being the parish administrator. He is also
one of the trustees and a member of the select vestry.
10. Tangible fixed assets
Buildlngs
Total
Cost
At beginning of the year
Additions
Disposals
-At end of the year
672,987
860
672,987
860
673 847
673 847
Depreciation
At beginning of the year
Depreciation
Disposals
At end of the year
Net book value at beginning of the year
673 847
673 847
Net book value at end of the year
672 987
672 987
Tangible fixed assets are recognised at their deemed cost.
CavanaghKelW

Rossorry Parish Church
Notes to the Financial Statements
For the year ended 31 December 2024
11. Investments
2024
2023
inal c
At l January
Additions
789,818
2,000
791818
782,818
7,000
789 818
At 31 December
Marke
lue
At l January
Additions
1,364,569
2,000
1,323,723
7,000
Fair value gain / (loss)
At 31 December
1402 515
1 364 569
12. Receivables
2024
2023
Gift Aid
Other receivables
18,917
974
18,314
834
13. Payables - due withln one year
2024
2023
Accruals
14. AnalysFS of Net Assets Among Funds
Unrestricted
Funds
2024
Restricted
Funds
2024
Endowment
Funds
2024
Total
Funds
2024
Fixed Assets
Investments
Current Assets
Receivables
Cash at bank and in hand
Current Liabilities
Net Assets at 31 December
673,847
891,608
673,847
1,402,515
1,982
508,925
19,891
531,986
19,891
585,156
47,185
5,985
2,116,032
49,167
514,910
2,680, 109
Endowment funds
The parish has received numerous bequests which are invested with the Representative Church Body, Church
of Ireland Trustees and other financial institutions, the income being used for parish purposes. The parish
treats these as if they were permanent endowment funds where the capital cannot be converted to income.
CavanaghKelW
20