CHARITY REGISTRATION NUMBER: NIC105437 Inishmacsaint Church of Ireland Unaudited Financial Statements 31 December 2023 ps NAC Chartered accountants 24 Main Street Kesh Co Fermanagh BT93 1TF
Inishmacsaint Church of Ireland Financlal Statements Year ended 31 December 2023 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial posrtion Statement of cash flows Notes to the financial statements
Inishmacsaint Church of Ireland Trustees, Annual Report Year ended 31 December 2023 The trustees present their report and the unaudited fmanclal statements of the charity for the year ended 31 December 2023. Reference and administrative details Registered charity name Charity registration number Principal office Inishmacsaint Church of Ireland NIC105437 37 Glenlevan Road Sandhill Derrygonnelly Co Fermanagh 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 Ferguson Mrs E Carson Revd S Woods Ms E Mcclelland Mrs M Elliott Mr l Rutherford Mr D Bailey Mr D Ford Mr T Armstrong Mr D Carson (Resigned 19 April 2023) (Resigned 19 April 2023) (Resigned 19 April 2023) Independent examiner Gary Thompson Structurej governance and management Governing Document and Constitution of the Charity Chapter 111 of the Constitution of the Church of Ireland governs Parishes and Parochial Organisation_ The Select Vestry members are the Charity Trustees. Recrultment and Appointment of Select Vestry All members of the Church of Ireland who are over the age of 18 and are either resident within the 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 pansh, allowing them to attend and vote at meetings of the general vestry 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 Vestry will hold their positions for a period of one year. Select Vestry members may be re-elected annually and there is no limit on the number of temis which may be served.
Inishmacsaint Church of Ireland Trustees, Annual Report (¢ontlnue¢YJ Year ended 31 December 2023 Structure. governance and management (contlnu8dJ 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 clergy serving in the parish, the churchwardens, the glebewardens and generally not more than e1ve other members of the general vestry elected at the General Vestry. The select vestry Is chaired by the incumbent or other member of the clergy 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 vesty meets at times fixed by the member5 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 15 to support the advancement of the Christian religion by promoting. through the work of Inishmacsaint P2rish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Being open to and engaging wth society a5 a whole and offering support for those needing help are fundamental to the practical deltvery of the benefits of Christianity. As a result of actswty in the pursurt of the advancement of the Chrtstian religlon, Inishmacsaint Parish ha5 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 select vestry of Inishmacs3int Parish. Achievaments and perfom)ance Inishmacsaint continues to support the work of other charities and missionary work by either making donations or holding special collections during the year. The Parish has given careful Gonsideration to the Charity Commission of Northern Ireland's guidance on public benefit to ensure that all activities undertaken during the year have helped to achieve the Parish's aims and objectives, as well as providing public benefit. Flnanclal revlew The parish recorded a surplus 01 £6,983 during the year ended 31 December 2023. The trustees policy on reserves is to ensure that sufficient SerVeS are retained to meet all future expenditure requirements as well as potential future capital projects. The trustees, annual report was approved on 28 March 2024 and signed on behalf of the board of trustees by.. Mrs J Wray Trustee
Inishmacsaint Church of Ireland Independent Examiner's Report to the Trustees of Inishmacsaint Church of Ireland Year ended 31 December 2023 I report on the financial statements for the year ended 31 December 2023. which comprlse the statement of financial activities, statement of financlal position, statement of cash flows and the related notes. Respectlve responsibilitles of trust8es and examlner As the charity's twstees you are responsible for the preparation of the accounts in accordance with the Charities Act {Northern Ireland) 2008. It 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 the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act, and to state whether particular matters have come to my attention. Basls of Independent examlner's report I have examined your charity accounts as required under section 65 of the Chariiies Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65{9)(b} of the Charities Act. The examination included a review of the accounting records kept by the charity and a companson of the accounts 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 to believe.. That accounb'ng records were not kept in accordance wth section 63 of the Charities Act That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requlrements of the Charities Act That there is further information needed for a proper understanding of the accounts to be reached,
Inishmacsaint Church of Ireland Independent Examiner'8 Report to the Trustees of Inlshmacsaint Church of Ireland (condnued) Year ended 31 December 2023 Independent examlner's 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 the Directions of the Charity Commission for Northern Ireland, I have foun no matters that requlre drawing to your attentiorL ompson endent Examiner In GA Thompson Accountsncy Bannagh Beg Kesh Co Fermanagh BT93 8BY 28 March 2024
Inishmacsaint Church of Ireland Statement of Financial Activities Year ended 31 December 2023 2023 RestnGted funds Total funds Total funds 2022 Unrestricted funds Note Income and endowments Donations and legacies Investment income Other income 59,846 857 10,640 71.343 339 11 60,184 868 10,640 56,540 810 9,583 Total income 350 71,692 66.933 Expendlture Expenditure on charitsble activities Total expenditure 63,841 63,841 869 64,709 53,211 869 64,709 53,211 Net income and net movement In funds 7,502 (519) 6,983 13,722 Reconclliation of funds Total funds brought forward Total funds carried fonNard 349,522 357,024 4,366 3,847 353,888 360,871 340,166 353.889 The statement of financial activities includes all gains and10sses recognlsed in the year. All income and expenditure derive from continuing activities. The nots8 on pages 8 to 15 fom) part of these financial statements.
Inishmacsaint Church of Ireland Statement of Financial Position 31 December 2023 2023 2022 Flxed assets Tangible fixed assets Investments Note 11 12 282,376 16,510 298,886 282,655 16,510 299,165 Current assets Debtors Cash at bank and in hand 13 6,583 57,429 64,012 6,015 51,950 57,965 Creditors: amounts falling due wlthln one year Net current assets Totsl assèts less current liabillties 14 2,027 61,985 360,871 3.242 54,723 353,888 Funds of the chaffty Restricted funds Unrestricted funds Total charity funds 3,847 357,024 360,871 4,366 349,523 353,889 15 These financial statements were approved by the board of trustees and authoriséd for issue on 28 March 2024, and are signed on behalf of the board by.. rs J Wray Trustee Mr R Ferguson Trustee The notes on pages 8 to 15 form part of these flnanclal ststements.
Inishmacsaint Church of Ireland Statement of Cash Flows Year ended 31 December 2023 2023 2022 Cash flows from operating activitles Net income 6,983 13,722 Adjustments for.. Depreciation of tangible fixed assets Other interest receivable and similar income Changes in.. Trade and other debtors Trade and other creditors Cash generated from operats'ons Interest recerved Net cash from operating activities 279 (868) 310 (8101 {568) 3,309 {1} 16,530 5,827 868 810 6,695 17,340 Cash flows from financing actlvitles Proceeds from borrowings Net cash used in financing activrties (1,216) (1,216) {1,292) (1,292) Net increase In cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 5,479 51,950 57,429 16,048 35,902 51,950 The notes on pages 8 to 15 fomi part of these financial statements.
Inishmacsaint Church of Ireland Notes to the Financial Statsments Year ended 31 DeGember 2023 General information The charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is 37 Glenlevan Road, Sandhill, Derrygonnelly, Co Fermanagh, BT93 6ER. Statement of compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP (FRS 102)) and the Charities Act (Northem Ireland) 2008. Accountlng policies Basis of preparation The financial statements have been prepared on the historical cost basis, a5 modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the funGtional currency of the entity. Going concern There are no material UnrtaIntieS about the charity's ability to contSnue. Judgemants and key sources of estimatlon uncertalnty The Trustees do not consider that there are any critical judgements or estimates made in applying the Pansh's accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk os causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular futurè project or commitment. Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub<lasses.' restricted income fund5 or endowment funds.
Inishmacsaint Church of Ireland Notes to the Financial Statements (eontinu•d) Year ended 31 December 2023 Accounting policies f¢onlinued) Incomlng resources All incoming resources are included in the ststement of financial activities when ents'tlement has passed 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 following specific policies are applied to particular categories of income= income from donations or grants is recognised when there is evidence of entitlement to the gi¢ receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and ents'tlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and seNices are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed if unspen( 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 classtfied under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading acb'vitses, and the sale of donated goods. expenditure on charttable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable acts'vities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitsble activitses. All Costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute lo on a ieasonable, justifiable and conslstent basis.
Inishmacsaint Church of Ireland Notes to the Financial Statsments (eontlnuedj Yoar ended 31 DeGember 2023 Accounting policies (condnued) Tangible assets The Church Building and Graveyard are deemed to Heritage assets as defined by the Charities SORP (FRS102). These Heritage assets are not included on the Statement of Financial Positlon as Snformation 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 Glebe House is recognised at market value due to the difficulties in establishing actual cosL The market value has been determined by the trLJStees. No depreciation has been attributed to the Rectory as the remaining useful life currently exceeds 50 years. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows., Equipment 10% reducing balance Investments Unlisted equity investments 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 being recognised in income or expenditure. Impairment of fixed assets A review for indlGators of impairment is carned out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying 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 impairment testing, when it 15 not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amoLJnt of the cash- genÈratin9 unit to which the asset belongs. The cash-generaling unit Is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-9enerating 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 Ststements {¢ontlnuedJ Year ended 31 December 2023 Donatlons and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations Freewill envelopes Tax refund gift aid Church collections HaNest Gift Day Other donations Clothes Collection Panto SK Fun Run Favourite Hymns Carol Singing 32,311 7,666 810 6,375 3,341 336 6,236 1,320 1,251 200 32,311 7,666 810 6,375 3,679 336 6,236 1,320 1,251 200 339 Grants DAERA Grant Ely Heritage Grant CDYC Youth Grant 59,846 339 60,184 Unrestricted Funds Restricted Total Funds Funds 2022 Donations Freewill envelopes Tax refund gift aid Church collections Harvest Gift Day Other donations Clothes Collection Panto SK Fun Run Favourite Hymns Carol Singing 31,761 7,116 526 6,267 2,838 400 5,843 31,761 7,116 526 6,267 2,838 400 5,843 Grants DAERA Grant Ely Her6tage Grant CDYC Youth Grant 1,340 (1) 450 1,340 (1) 450 56,540 56,540 11
Inishmacsaint Church of Ireland Notes to the Financial Statements fcontinued) Year ended 31 December 2023 Investment incomè Unrestricted Funds Restricted Total Funds Funds 2023 Bank interest Interest from R.C.B Investments 100 757 111 757 857 11 868 Unrestricted Funds Restricted Total Funds Funds 2022 Bank interest Interest from R.C.B Investments 77 733 77 733 810 810 Other Income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Fees for Headstone Fees for Funerals Rectory Rent Field rent Wayleaves Other sundry income 100 490 8,400 250 18 325 2,110 7,700 250 28 552 100 490 8,400 250 18 325 2,110 7,700 250 28 552 10,640 10,640 9,583 9,583 Expenditure on ¢harltable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Inishmacsaint Parish Church 63,841 869 64,709 Unrestricted Funds Restricted Totsl Funds Funds 2022 Inishmacsaint Parish Church 53,210 53,211 Expenditure on charitable actlvities by activity type Activities undertaken Total funds directiy 2023 Total fund 2022 Inishmacsaint Parish Church 64,709 64,709 53,211 12
Inishmacsaint Church of Ireland Notss to the Financial Statements (conunuedj Year ended 31 December 2023 Net Income Net income is stated after chargingl(crediting)'. 2023 2022 Depreciation of tangible fixed assets 279 310 10. Indepondent examination fees 2023 2022 Fees payable to the independent examiner for. Independent examination of the financial statements 660 600 11. Tangible fixed assets Freehold property Equipment Total C05t At 1 January 2023 and 31 December 2023 Depreclation At 1 January 2023 Charge for the year At 31 December 2023 Carrylng amount At 31 Decembèr 2023 At 31 December 2022 279,868 4,719 284,587 1,932 279 1,932 279 2,211 2,211 279,868 279,868 2,508 282,376 282,655 2,787 12. Investments other Investments Cost or valuation At 1 January 2023 Additions 16,510 At 31 December 2023 Impairnient At l January 2023 and 31 December 2023 Carrylng amount At 31 December 2023 At 31 DeGember 2022 16,510 16,510 16.510 All investments shown above are helcl at valuation. 13
Inishmacsaint Church of Ireland Notés to the Financial Statements {continu6dJ Year ended 31 December 2023 13. Debtors 2023 2022 HMRC - Gift Aid 6,583 6,015 14. Creditors: amounts falling due within one year 2023 2022 Bank loans and overdrafts Trade creditors 1,728 299 2,944 298 2,027 3,242 15. Anatysis of charitable funds Unrestricted funds At 1 January 202 At 31 December 2023 Income Expenditure General funds 349,522 71,343 (63,841) 357,024 At 1 January 202 At 31 December 2022 Income Expenditure General funds 335,800 66,933 (53,210) 349,523 Restricted fund8 At 1 January 202 At 31 December 2023 Income Expenditure Building Fund Organ Fund 2,604 1,762 48 302 (674) (195) (869) 1,978 1,869 4,366 350 3,847 At 1 January 202 At 31 December 2022 Income Expenditure Bullding Fund Organ Fund 2.604 1,762 4,366 2,604 1,762 4,366 14
Inishmacsaint Church of Ireland Notes to the Financial Statements (Continued) Year ended 310ecember 2023 16. Analysls of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Investments Current assets Creditors less than 1 year Net assets 282,376 16,510 60,165 {2,027) 357.024 282,376 16,510 64,012 (2,027) 360,871 3,847 3,847 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Investments Current assets Creditors less than 1 year Net assets 282,655 16,510 53,599 (3,242) 349,522 282,655 16,510 57,965 (3,242) 353,888 4,366 4,366 17. Analysis of changes in net debt At At 1 Jan 2023 Cash flows 31 Dec 2023 Cash at bank and in hand Debt due within one year 51,950 (2,944) 49,006 5,479 1,216 6,695 57,429 {1,728) 55,701 18. Relatsd parties There were no transactions with trustees during the year that require disclosure. 15