CHARITY REGISTRATION NUMBER: NIC105437 Inishmacsaint Church of Ireland Unaudited Financial Statements 31 December 2022 GA THOMPSON ACCOUNTANCY Chartered accountants Bannagh Beg Kesh Co Fermanagh BT93 8BY
Inishmacsaint Church of Ireland Financial Statements Year ended 31 December 2022 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Statement of cash flows Notes to the financial statements
Inishmacsaint Church of Ireland Trustees. Annual Report Year ended 31 December 2022 The trustees present their report and the unaudited finanaal statements of the Charity for the year ended 31 December 2022. Reference and admlnlstratlve detalls Rogisteréd charity nam• Charlty reglstratlon number Principal office Inishmacsaint Church of Ireland NIC105437 37 Glenlevan Road Sandhdl Derrygonnelly Co Femianagh BT93 6ER The trustees Mrs L Muldoon Mrs J Wray Mr E Rogers Mr R Ferguson Mr R Harkness Mr M Byers Mrs J Acheson Mrs L F8rguson Mrs E Carson Revd S W¢X)ds Ms E Mcclelland Mrs M Elliott Mr l Rutherford Mr D Bailey Mr D Ford Mr T Amistrong (Appointed 27 April 2022) Independent examiner Gary Thompson StruGtur•. govomanGO and mana9ement Gov•rning Documont and Constitution of the Charity Chapter 111 of the Constitution of the Church of Ireland govems Parishes and Parochbal Organisation. The Select Vesty members are the Charty Trustees. Recruitment and Appointment of Select Vestry All members of the Church of Ireland who are over the age of 18 and a either resident within Ihe parish or live elsewhere but have been accustomed members of the congregation for the last three months. may register as members of the general vestry of the parish, allowing them to attend and vote at meetings of the general vesty and to stand for election to the select vestry. Meetings of the general vestry are held at least once a year. The Select Vestry is elected as part of this General Vestry meeting. The Select Vesty V11 hold their position5 for a period of one year. Select Vestry members may be r&dèeted annuAlly And thArA IR no lifnit on th• nuTnb•r of tèrms which may bo ootv¢d.
Inishmacsaint Church of Ireland Trustees. Annual Report (ct)nUnu•d} Year ended 31 December 2022 Slructuro, govemanc• and management {cltInU•d) Organisational Structure The select vestry is responsible for the day to day management of the parish. The select vestry consists of the member of the dergy serving in the parish. the churchwardens, the glebewardens and generally not more than twelve other members of the general vestry elected at the General Vestry. The select vesty is chaired by the incumbent or other Tnember of the dergy officiating in the parish. Select vestry members are responsible for making decisions on matters of general concern and importance to the parish including deciding on how parish funds are to be applied. The select vestry meets at times [ed by the members or by the diocesan synod. Special meetings may be convened at any time by the chairperson or churchwardens. Objectives and activities The charitable purpose of the Church of Ireland is the advancement of religion. The principal function of Inishmacsaint Parish is to sUprt the advancement of the Christian religion by promoting, through the work of Inishmacsaint Parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Being open to and engaging with society as a whole and offering support for those needing help are fundamental to the practs'cal delivery of the benefits of Christianty. As a result of activity in the pursutt of the advancement of the Christian religion. Inishrnacsaint Parish has custody of property and of records. materials and artefacts of significance to the cultural and religious heritage and maintenance of which is undertaken by the sdect vestry of Inishmacsaint Parish. Achievements and perforniance Inishmacsaint continues to support the work of other charities and missionary work by either making donations or holding special collections during the year. Th8 Parish has given careful consideration to the Charity Commission of Northern Ireland's guidance on public benefit to ensure that all activities undertaken dunng the year have helped to achieve the Parish's aims and objectives, as well as providing public benefrt. Financial rnviow The parish recorded a surplus of £13.722 during the year ended 31 December 2022. The trustees policy on reserves is to 8nsure that sufficient reser¥es are retained to meet all future expenditure requirements as well as potential future capital projects. The truste8s' annual report was approved on 14 April 2023 and 5ign6d on behalf of the board of trustees by: Mrs J Wray Truatee
Inishmacsaint Church of Ireland Independent Examiners Report to the Trustees of Inishmacsaint Church of Ireland Year ended 31 December 2022 I report on the financial statements for the year ended 31 December 2022, which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes. Respectlve responslbilltles of trustees and examinèr As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. 11 is my responsibility to: examine the accounts under section 65 of the Charities Act. to follow the procedures laid down in the general Directions given by ihe Charity Commission for Northem Ireland under section 65{9)(b) of the Charits'es Act. and to state whether particular matters have coma to my attention. 8asis of independent examinerfs roport I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under sectK)n 65{9)(b) of Ihe Charities Act. The examination included a r8view of the accounting records kept by the charily and a comparison of the aonts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause lo believe.. That accounting records were not kept in accordance section 63 of the Charities Act That the accounts do not accord with those accounting records That the accounts do nol comply with the acunting requirements of the Charities Act That there is further 1nfomian needed for a proper understanding of the accounts to be reached.
Inishmacsaint Church of Ireland Independent Examiners Report to the Trustees of Inishmacsaint Church of Ireland (continu8d) Year ended 31 December 2022 Independent examinerfs statement I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following Ihe Directions of the Charity Commission for Northem Ireland, I have found no matters that require drawing to your attention. ompson Independenl Examiner GA Thompson Accountancy Bannagh Beg Kesh Co Fermanagh BT93 8BY 14 April 2023
Inishmacsaint Church of Ireland Statement of Financial Activities Year ended 31 December 2022 2022 Restricted fijnds Total funds Total funds Unrestricted funds 2021 Note Income and ondowments Donations and legacies Investment income Other income 56,540 810 9,583 56.540 810 9,583 59,549 729 4,914 Total income 66,933 66,933 65,192 Expenditure Expenditure on charitable activilies Total expenditure 53,210 53,211 53,735 53.210 53,211 53.735 Net Income and net movemènt In funds 13.723 13.722 11,457 Reconclliation of funds Total funds broughl forwar(I Total funds carried forward 335,8 4,366 340.166 328,709 349.523 4,366 353,889 340,165 The Statement of financial adivities includes all gains and losses recognised in the year. JI income and expenditure derive from continuing activities. The notes on pages 8 to 15 forni part of these financial statements.
Inishmacsaint Church of Ireland Statement of Financial Position 31 December 2022 2022 2021 Note Flxed assets Tangible fixed assets Investments 11 12 282.655 16,510 299,165 282,965 16.510 299,475 Current assets Debtors Cash at bank and in hand 13 6,015 51,950 9,324 35.902 57,965 45.226 Creditors: amounts falling due within one year Not curront assets 14 3,242 4,535 54,723 40.691 Total assets less current Ilabllltles 353,888 340,166 Funds of the charity Restricted funds Unrestricted funds 4,366 349.523 4.366 335,799 Total charlty funds 15 353,889 340,165 These financial statements were approved by the board of trustees and authorised for issue on 14 April 2023, and are signed on behalf of the board by: Mrs J Wray Trustee Mr R Ferguson Trustee The notes on pages 8 to 15 forni part of these financial statements.
Inishmacsaint Church of Ireland Ststement of Cash Flows Year ended 31 December 2022 2022 2021 Cash flows from operating activities Net income 13,722 11,457 Adjustments for.. Depreciation of tangible fixed assets Olher interesl receivable and similar income 310 (810) (729) Changes in.. Trade and other debtors Trade and other creditors 3.309 {1) 16,530 (3.225) Cash generat&d from operations 7,847 Interest received 810 729 Net cash from operating activities 17,340 8,576 Cash flows from financing activlties Proceeds from borrowings Net cash used in financing activities (1.2921 {1.292) (4,215> (4,215) Not increase in cash and cash equivalents Cash and cash equivalents at beginning of yèar Cash and cash equlvalents at end of year 16.048 35,902 4,361 31,541 51,950 35,902 The notes on pages 8 to 15 fomi part of these financial slatements.
Inishmacsaint Church of Ireland Notes to the Financial Statements Year ended 31 December 2022 General infomiation The charity is a public benefrt entity and a registered charity in Northem Ireland and is unincorporated. The address of the principal office is 37 Glenlevan Road. Sandhdl, Derrygonnelly, Co Femianagh. BT93 6ER. Statement of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the RepU1C of Ireland.. the Ststement of Recommended Praclice applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and RepUl1C of Ireland (FRS 102) (Charities SORP (FRS 1021) and the Charities Act {Northern Ireland) 2008. Accounling policies Basts of preparation The financial statements have b8en prepared on the historical cost basis, as m(>Jified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial ststements are prepared in sterling. which is the functional cUencY of the entity. Going concern There are no material uncertainties about Ihe chariws abiliiy to conlinue. Judgements and key sources of estlmatlon uncertainty The Truslees do not consider Ihat there a any critical judgements or estimates made in applying the Parish's accounting pc4icies or that there are any crrtical accounting estimates or assumptions which may have a signthcant risk os causing a material adjustment to th8 carrying amounts of assets and liabiliti8s within the next financial year. Fund accounting Unrestricted hjnds are available for use at the discretion of the trustees to further any of the charty's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted ftjnds are subjected to restrictions on their expenditure dedared by the donor 01 through the tems of an app8al. and fall into one of two sub-classes: restricted income funds Dr endowment funds.
Inishmacsaint Church of Ireland Notes to the Financial Statements fcontlnuodj Year ended 31 December 2022 Accounting policles (contlnts•d) Incoming resources All incoming resources are induded in the statement of financial activities when entitlement has passad to the charity,. it is probable that the economic benefits associated with the transaction will flow to the Charity and the amount can be reliably measured. The fcllowing specific pcAicies are applied to particular categories of income: income from donations or grants is recognised when there 15 evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is CogniSed when receipt is probable and entiuement is established. income from donated goods is measured at the fair value of the goods unless thls is impractical to measure reliably, in which case the value is denved from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the vaue can be reliably measured. No amounts are induded for the contnbution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is dassified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if u nspenL in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is dassified under headings of the ststement of financial activities to which it relates: expenditure on raising funds indudes the costs of all fundraising activFties. events. norCharItable trading activities, and the saSe of donated goods. expenditure on charitable activities indudes all costs incurred by a charity in undertaking activities that further its Ghantsble aims for the benefit of its beneficiaries, induding those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes dl expendrture that is neither related to raising funds for the charity nor part of its expenditure on charitable activttses. Ail costs are allocated to expendilure categories reflecting the use of the resource. Direct costs attributsble to a single activity are allocated diredy to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Ini5hmac5aint Church of Ireland Notes to the Financial Statements (rnntTnu•dJ Year ended 31 December 2022 Accountlng policies (contlnu•d} Tangible assets The Church Building and Graveyard are deemed to Heritage assets as defined by th8 Charilies SORP (FRS102). These Heritage assets are not induded on the Statement of Financial Position as information on the cost or valuation is not available and such information cannot be obtained at a cost commensurate wilh the benefrt to the users of the accounts and to the Parish. The Glebe House is recognised at market value due to Ihe drficullies in establishing actual cost. The market value has been delemine(f by the truslees. No depreciation has been attribut8d lo Ihe Rectory as the remaining useful life cuentlY eXed5 50 years. Depreclation Depreciation is calculated so as to writa off the cost or valuation of an asset. 18SS Its residual value. over the useful economic lrfe of that ass8t as follows: Equipment 100/0 reducing balance Investments Unlisted equty investrnents are initially recorded at cost. and subsequently measured at fair value. If fair value cannot be reliably measured. assets are measured at cost less impairment. Listed investments are measured at fair value With Changes in fair value belng recognised in income or expenditure. Impaimient of fixed assets A review for indiGators of impairment is rrIed out at each reporting date, with the recoverable amount being estimated vthere such indicators exist. Where the carying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impainnent testing, when it is not poss1te to estimate the recoveratle amount of an individual asset. an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallpst identifble group of assets that indudes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of g¢)odwill, the goodwill acquired in a business combination is. from the acquisition date, all<)cated to each of the cash%enerating units that are expected to benefit from the synergies of the combination. irrespective of whether other assets or liabilities of the charity are assigned to those units. 10
Inishmacsaint Church of Ireland Notes to the Financial Statements fcDnllnu•d) Year ended 31 December 2022 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2022 Donations Freewill envelopes Tax refund gift aid Church collections Harvest Gift Day Other Gift Day Donalions Other donations Fundraising Panto 31.761 7.116 526 6,267 31.761 7,116 526 6,267 2,838 400 5.843 2.838 400 5,843 Grants DAERA Grant Covid-19 Grant Ely Heritage Grant CDYC Youth Grant 1,340 1,340 (1) 450 (1) 450 56.540 56,540 Unreslricted Funds Restricted Total Funds Funds 2021 Donations Freewill envelopes Tax refund gift aid Church collections Harvest Gift Day Other Gift Day Donations Other donations Fundraising Panto 29.297 7.877 830 5.480 2.330 2,535 980 29.297 7,877 830 5.480 2,330 2.555 980 20 Grants DAERA Grant Covid-19 Grant Ely Heritage Grant CDYC Youlh Grant 7.459 2.741 7.459 2,741 59.529 20 59.549 Investment income Unrestricted Funds Restricted Total Funds Funds 2022 Bank interest Interest from R.C.B Investments 77 722 7?? 810 810 11
Inishmacsaint Church of Ireland Notes to the Financial Statements (coft¢lnu•dJ Year ended 31 December 2022 Investment income (contlnu•d) Unrestricted Funds RestriGted Total Funds Funds 2021 Bank interest Interest from R.C.B Investments 31 12 685 716 12 729 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Fees for Headstone Fees for Funerals Rectory Rent Field rent Wayleaves Hentage Weekend Other sundry income 490 8.400 250 18 490 8,400 250 18 220 3.500 200 18 651 325 220 3,500 200 18 651 325 325 325 9.583 9,583 4,914 4,914 Expenditure on Charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Inishmacsaint Parish Church 53.210 53,211 53,735 53,735 Expenditure on charitable activities by activlty type Activities undertaken Total funds direcuy 2022 Total fund 2021 Inishmacsaint Parish Church 53.211 53,211 53,735 Net Income Nel income is stated after chargin{CreditIngj. 2022 2021 Depreciation of tangible fixed assets 310 344 12
Inishmacsaint Church of Ireland Notes to the Financial Statements (conOnu•dJ Year ended 31 December 2022 10. Independont examination fees 2022 2021 Fees payable to the independent examiner for= Independent examination of the financial statements 600 600 11. Tangible fixed assets Freehold property Equipment Total Cost At 1 January 2022 and 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 279,868 4,719 284,587 1.622 310 1,622 310 1,932 1.932 Carrying amount At 31 December 2022 279,868 2,787 282,655 At 31 December 2021 279.868 3.097 282.965 11 Investments Other Investments Cost or valuation Al 1 January 2022 Additions 16.510 At 31 December 2022 16,510 Impairment At 1 January 2022 and 31 D8cèmber 2022 Carrying amount At 31 December 2022 16.510 At 31 December 2021 16,510 All investments shown above are held at valuation. 13. Debtors 2022 2021 HMRC- Gifl Aid Other debtors 8,015 6.423 6.015 9,324 13
Inishmacsaint Church of Ireland Notes to the Financial Statements (continii Year ended 31 December 2022 14. Creditors: amounts falling due within one year 2022 2021 Bank loans and overdrafts Trade creditors 2.944 298 4.236 299 3,242 4,535 15. Analysis of charitable funds Unrestricted funds At 1 January 20 22 At 31 December 2022 Income Expenditure Transfers General funds 335,800 66,933 (53,210) 349.523 At 1 January 20 21 At 31 Decamber 2021 Income Expenditure Transfers General funds 322,113 65.159 (53.735) 2.262 335.799 Rostricted funds At 1 January 20 22 At 31 December 2022 Income Expenditure Transfers Building Fund Organ Fund 2.604 1.762 2,604 1.762 4,366 4,366 At 1 January 20 21 Al 31 December 2021 Income Expendilure Transfers Building Fund Organ Fund 4,866 1.730 (2.262) 2,604 1,762 32 6,596 32 {2,262) 4,366 14
Inishmacsaint Church of Ireland Notes to the Financial Statements (conUnu•dJ Year ended 31 December 2022 16. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Investments Currenl assets Creditors less than 1 year Nel assets 282.655 16.510 53,599 (3,242} 349,522 282,655 16,510 57,965 (3,2421 353,888 4,366 4,366 Unreslricted Funds Restricted Total Funds Funds 2021 Tangible fixed assets Inv8stments Current assets Cr8ditor5 less than 1 year Creditors greater than 1 year Nel assets 282,965 16,510 40.860 (4.535) 282,965 16,510 45,226 (4,535) 4,368 335.800 4,366 340,166 17. Analysls of changes In net debt At At 1 Jan 2022 Cash flows 31 Dec 2022 Cash at bank and in hand Debt due within one year 35,902 14.2361 31,666 16,048 1.292 51,950 12,944) 49,006 17,340 18. Related parties Th8r8 were no transactions with trustees during th8 year that raquire disdosur8. 15
Inishmacsaint Church of Ireland Management Infonnation Year ended 31 December 2022 The following pagos do not forni part of th• financial statsments. 16