Magheracross Parish Church
Trustees, Annual Report for the year ended 31 December 2024
ststement of Receipts and Payments for the year ended 31 December 2024
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total
2024
Total
2023
Recei
Donations & Gift Aid
Organisations
Fundraising events
Bank & Deposit Interest
Property Rental
Administration
R.B. & CIT Unit Valuations
106345
2939
10031
7127
6800
5177
106345
13667
15632
7127
111645
35068
7246
5296
7500
4327
2511
10728
5601
6800
5177
2469
71
2398
2398
157217
173593
Total Recei
138419
16400
ment5
Diocesan Assessment
Oganisations
Church Costs
Hall Costs
Rectory Costs
Cemetery Costs
Investment Property Costs
Administration Costs
Charitable Donations
52174
8197
21595
7562
15794
52174
23037
63257
14840
47138
10753
8717
18487
2040
459
12092
5256
21595
7562
15794
3160
3160
479
479
10458
10458
7369
5392
1977
Asset & Investment
Purchase
Total Pa
ments
124811
16817
141628
168199
Net receiptslpayments
13608
-417
2398
15589
5394
Transfer tolfrom funds
Surplus/deficit for the year
13608
-417
2398
15589
5394
Reconclliation 31.12.2024
Funds at 31.12.2023
Surplusldeficit this year
Funds at 31.12.2024
121296
13608
15636
-417
75728
2398
212660
15589
228249
207266
5394
212660
134904
15219
78126

Magheracross Parish Church
Trustees, Annual Report for the year ended 31 December 2024
Statement of Assets and Liabilities as at 31 December 2024
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total
Total
2023
2024
Cash Funds
Bank Current Accounts
88497
11290
99787
91327
Total Cash Funds
88497
11290
99787
91327
Investment Funds
Investments in RCB / CIT Unit Trusts
St James's Place
Investment
3929
78126
82055
79586
46407
46407
41747
Total Investment Funds
46407
3929
78126
128462
121333
Total Funds
134904
15219
78126
228249
212660
Investment Assets
Investment Property
65000
65000
650
Total Investment Assets
65000
65000
65000
Liabilities
Approved by the Trustee5 on 4 March 2025 and signed on their behalf by".
Rev Lorraine Capper
Chair
Howard Mcmorris
Honorary Treasurer
101 Page

Magheracross Parish Church
Trustees, Annual Report for the year ended 31 December 2024
Notes to the financial statements for the year ended 31 December 2024
l. Movement in Funds
At
01/01/2024
At
31112/2024
Incomings
Outgoings Transfers
Endowment Funds
Representative
Church Body
62958
1168
64126
Church of Ireland
Trustees
12770
1230
14000
75728
2398
78126
Restricted Funds
Representative
Church Body
3858
71
3929
Mothers Union
3053
555
432
3176
Bowling Club
300
300
Youth Ministry
6106
10173
14108
2171
Badminton Club
300
300
Gir15 Friendly
Society
42
42
Christmas Charity
Sit-out
1977
5601
1977
5601
15636
16400
16817
15219
Unrestricted Funds
St James's Place
Investment
41747
4660
46407
S Kane Bequest
17976
17976
General Fund
61573
133759
124811
70521
121296
138419
124811
134904
Total Funds
212660
157217
141628
228249
11 I Page

Magheracross Parish Church
Trustees, Annual Report for the year ended 31 December 2024
Notes to the financial statements for the year ended 31 December 2024 (continued)
Pur
oses of Endowment Funds
Income gets added to the general funds of the Parish.
Pur
oses of Restricted Funds
Youth Ministry Fund: used towards the payment of the youth worker's salary and youth activities
expenses.
Mothers Union Catering Fund: used towards capital expenditure of the Mothers Union and of the
Parish.
Christmas Charity Sit-out: annual charity financial support.
2. Collections for Third Parties
2024
2023
Lord Enniskillen Memorial Orphan society
494
269
Royal British Legion Poppy Appeal
537
362
1031
631
The above amounts have been included in Receipts for the Year under"Donations & Gift Aid" and
in Payments for the Year under "Charitable Donations"
3. Accounting policies
Set out below are the principal accounting policies which have been adopted in the compilation of
the Receipts and Payment5 Account and the Statement of A55ets and Liabilitie5
(a) Receipts and Payments Account
All items of income and expenditure included within the Receipts and Payments Account
have been accounted for on a cash receipt5 basis.
121 Page

Magheracross Parish Church
Trustees, Annual Report for the year ended 31 December 2024
(b) Statement of Assets and Liabilities
(l) Assets retoinedfor the Parish's own use
The assets of the Parish, retained for its own use comprise:_
Church Building and Graveyard
Parish Hall
Glebe House and Land
Cemetery
Fixtures and Fittings
The Church Building and Graveyard, the Parish Hall, the Glebe House and Land, and the Cemetery
are deemed to be Heritage assets as defined by the Charities SORP (FRS102)
No values are ascribed to these Heritage assets in the Statement of Assets and Liabilities 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.
No Fixtures and Fittings are capitalised.
ii) Investments
The investment property is recorded at original cost.
The St James's Place investment and the investments in RCB / CIT Unit Trust5 are stated at
actual value at the year-end date.
Notes to the financial statements for the year ended 31 December 2024 {continued)
4. Transactions with the Trustees
The Parish paid expenses of £15,794 relating to the running costs of the Glebe House which is
occupied by the Rector. £1,939 was paid to four Trustees in reimbursement of expenses during the
year.
Three Trustees had a personal interest in contracts or transattions entered into by the Parish during
the year.
5. Governance Costs
There were no Governance costs incurred during the year.
131 Page