MAGHERACULMONEY CHURCH OF IRELAND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CHARITY NUMBER: 105485 HASSARD MCCLEMENTS LIMITED CHARTERED ACCOUNTANTS AND REGISTERED AUDITORS 32 EAST BRIDGE STREET ENNISKILLEN COUNTY FERMANAGH BT74 7BT
MAGHERACULMONEY CHURCH OF IRELAND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CONTENTS References and Administrative Details 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 9-16
MAGHERACULMONEY CHURCH OF IRELAND REFERENCES AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023 Charity Name: Maoheraculmoney Church of Ireland Charity Registration Number: 105485 Contact Address-. 22 Ardess Road Tullnaoluo Kesh County Femanagh BT93 INX Trustees Rev F Rutledge Mr Gerald Knox Mr Glenn Johnston Mrs Jill Parkinson Mr David Morrow Mr Alan Crawford Mrs Louie Lee Mrs Frances Spence Mr Sydney Liggett Mrs Ruth Farrell Mr Alan Spence Mr Jonas Knox Mr Robert Mccurry Mrs Tanya M¢Keever Mrs Pat Robinson Mrs Fiona Harvey (Resioned 2J March 2023) Mr Peter Booth (Resigned 19 March 2024) Mr Christopher Spence (Appointed 19 March 2024) Mrs Gernma Spence (Appointed 19th March 2024) Mrs Dtane Smith (Appointed 23 March 202) and resigned 191h March 2024) Principal Office-bearers Clergy.. Church Treasurer= Honorary Secretary: Church Warden- Clergy: Church Warden - People.. Glebe Warden- Clergy.. Glebe Warden - People= Rev Francis Rutledge l Rev Abraham Storey Mrs Tanya McKeever Mrs Ruth Farrell Mr Sydney Liggett Mr Robert Mccurry Mr Glenn Johnston Mr Alan Crawford Independent Examiner Hassard Mcclements Limited 32 East Bridge Street Enniskillen County Fernianagh BT74 7B T Bankers Danske Bank 5-7 Market Street Omagh County Tyrone BT78 IBN
MAGHERACULMONEY CHURCH OF IRELAND TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present the annual report and accounts for Magheraculmoney Parish for the year ended 31 December 202). Objectives and Aetivities The charitable purpose of the Church of Ireland is the advancement of the Christian faith. The principal function of Magheraculmoney Parish is to support the advancement of the Christian religion by promoting, through the work of Maoheraculmoney 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 needino help are fundamental to the practical delivery of the benefits of Christianity. As a result of activity in the pursuit of the advancement of the Christian religion, Maoheraculmoney Parish has custody of propety 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 Magheraculmoney Parish. Aehievements, Performance & Public Benefit During the year 2023, activities continued to more closely reflect those before the Covid pandernic. as the year prooressed. The Sunday morning services in the parish church of St. Mary's, aim to nurture, support and develop the Christian faith within the congregation. Life Groups met again through 2023. The life groups undertake worship, bible study, prayer and fellowship together, encouraging outreach of love and care into the wider cornmunity. The retrular activities of the parish are aimed at engaging with all age groups. Children's church for 3-14 years old to seek to provide age-appropriate bible teaching to the children, and a foundation based on Christian values. youth clubs and youth life groups supporting those from I l years old up. Friends in the Afternoon providing social activities for our senior community and Mothers Union for the ladies seeking similar inclusion. These groups met throughout 2023. Our mums and toddlers, group. to support parents in the wider community, has yet to restart since the Covid 19 pandemic. The parish engages with the wider community through its outreach in the Parish Centre, linking in with the Fountain Centre and the Courthouse Kesh Ltd. In the Fountain Centre, the groups usintr the facility include Scouts, Guides and Rangers. The Fountain Youth Club, Youth Life Groups and Badminton Club. All except the latter. are for children or young adults, giving them the opportunity to meet to develop educationally, physically, spiritually and in doing so enable community orowth. The Badminton Club is open to all age groups in the community. Within the Fountain Centre are offices for the administration and youth work aspecl of parish life wh¢r¢ one member of Staff is currently based. Through its link with The Courthouse Kesh Ltd the parish works with its members in a range of Services including a foodbank, befriending and self-help for all in the community. financial management in conjunction with Christians Against Poverty, health and well-being services, programs for farn]ing families, facilities for use of local or(ranisations and cafe drop-in for all requiring snack food. As the Church and paTlSh centre are located sorne two miles from Kesh, the Fountain and Courthouse centres are more centrally located. rnore easily accessible and are all well equipped to facilitale outreach. This objective fits well with the parish vision of loving God. loving each other and loving those outside the church. Financial Review Through freewill offerincr the parishioners continue to support the parish financially. The trustees policy on reserves is to ensure that all ministy needs are met and reserves are used at the earliest opportunity.
Going Concern The trustees have reviewed the budgets for the year ahead and are satisfied that there are adequate ndS in place to ensure that the Parish can continue its activities and the financial statements for the year end 31 December 2023 can be sioned off as a goin(r concern. Structure, Governance and Management Governing Document aiid Conslitllllon oftlie Cliarity Chapter III of the Constitution of the Church of Ireland governs Parishes and Parochial Organisation. The Select Vestry members are the Charity Trustees Recruilmenl aRdAppoinlmenl ofselecl Vaytry 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 at least three months. may register as members of the General Vesty of the parish, allowing them to attend and vote at meetings of the General Vesty and to sland for election to the Select Vestry. Meetings of the General Vesty are held at least once a year. The Select Vestry is elected as part of this General Vesty meetintr The Select Vesty 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 ternis which may be served. Pay and remuneration The incumbent (and curate If / when appointed) each receive a stipend in accordance with figures approved by the General Synod of the Church of Ireland and details of office and locomotory allowance. Organlsallonal Siruclure 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, any curdte a551Stant ("the curate"), the church wardens. the glebe wardens and generally not more than twelve other members of the General Vesty elected at the General Vesty. The Select Vestry is chaired by the incumbent or other member of the clergy officiating in the parish. Select Vesty members are responsible for making decisions on matters of general concern and importance to the parish including deciding how parish funds are to be applied. The Select Vestry meets at time5 fixed by the members or by the Diocesan Synod. Special meetinos may be convened at any time by the chairperson or the churchwardens. In 2023 the Select Vesty met 8 titne5 durints the year. Attendance at 8 of these meetinos was in excess of 850/0. Statement of Trustees, Responsibilities The trustees are responsible for preparing the Tru5tees' Report and the financial statements in accordance with applicable law and regulations. The law applicable to charities in the Northem Ireland requires the trustees to prepare financial statements for each financial year. Under that law the trustees have prepared the financial statements in accordance with Generally Accepted Accounting Practice in the United Kingdorn (accounting standards issued by the Financial Reporting Council in the UK, including Charities SORP (FRS 102) ' Accounting and Reporting by Charities.. 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 (FRS 102)" and promulgated by the Institute of Chartered Accountants in the United Kingdom and United KingdoTll Law) Under that law the trustee5 must not approve the financial statetnents unless they are satisfied that they give a true and fair view of the state of the affairs of the charity and of the statement of financial activities of the charity for that period.
In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. make judoments and estimates that are reasonable and prudent slate whether the financial Statements have been prepared in accordance with applicable Accounting Standards and identify the standards in question, subject to any material departures being disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Parish will continue as a going concern. The trustees are responsible for keeping accounting records that are sufficient to show and explain the Parish's transactions and disclose with reasonable accuracy at any time the financial position of the Parish and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008, the Charity (Accounts and Reports) Regulations (Northem Ireland) 2008 and the provision of the Constitution of the Church of Ireland. They are also responsible for safeguarding the assets of the Parish and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Statement as to disclosure to our independent examiner In so far as the trustees are aware at the time of approvino our trustees. annual report: there is no relevant information of which the independent examiner is unaware. and the trustees have taken all steps that they oughi to have taken to make themselves aware of any relevant inforniation and to establish that the independent examiner is aware of that infonnation. Independent Examiner The independent examiner, Ha55ard Mcclements Limited have indicated their willingness to continue in office, and a resolution concerning their reappointment will be proposed at the Annual Easter Vestry Meeting. On Behalf of the Trust¢e Mrs Frances Spence Mrs Tanya McKeever Date= 8th October 2024
INDEPENDENT EXAMINER'S REPORT TO THE CHARITY TRUSTEES OF MAGHERACULMONEY CHURCH OF IRELAND We report on the accounts of Magheraculmoney Church of Ireland for the year ended 31 December 2023, which are set out on pages 6 to 16. Respective responsibilities of the Charity truste¢s and independent examiner As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008, the Charities Act (Northern Ireland) 2013 and the Charities (Accounts and Reports) Reoulation5 (Northern Ireland) 2015. The charity's trustees consider that an audtt is not required for this year under section 65(2) of the Charities Act (Northern Ireland) 2008 and that an independent examination is needed. The charity is preparing accrual accounts. It is our responsibility to: Examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008- 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 (Northern Ireland) 2008. and State whether particular matters have come to our attention. Basis of independent examiner s report We have examined your charity accounts as required under section 65 of the Charities Act (Northern Ireland) 2008 and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northem Ireland under section 65(9)0)) of the Charities Act (Northern Ireland) 2008. Our examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disc105ures in the accounts. and seeking explanations from you as Charity trustees concerning any such tnatters. Our role is to state whether any material matter5 have corne to our attention giving us cause to believe: l. That accounting records were not kept in accordance with section 63 of the Charities Act (Northern Ireland) 2008; 2. That the accounts do not accord with those accounting record5. 3. That the account5 do not comply with accounting requirements of the Charities Act (Northern Ireland) 2008. and 4. That there is further infonnation needed for a proper understanding of the accounts to be reached. Independent examiner's statement We have completed our examination and have no concerns in respect of the matters (l) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, we have found no matters that requir¢ drawing to your attention. HASSARD MCCLEMENTS LIMITED CHARTERED ACCOUIYTANTS AND REGISTERED AUDITORS 32 East Bridge Street Enniskillen County Fernianagh BT74 7B T Date.. 9th October 2024
MAGHERACULMONEY CHURCH OF IRELAND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrieted Restricted Funds Funds 2023 2023 Endowment Total 2023 Total Note 2023 2022 Income Donations and legacies Other trading activities Investments Charitable activities 136,764 17,353 28,774 844 166,382 17,353 3,396 2,729 156.194 16,546 3,654 1,414 2,729 Total Income 160,242 28,774 844 189,860 177.808 enditure on: Generating funds Charitable activities Other costs Total Ex enditure (206) {121,575) (109,148) (24,764) (?8,381) (146,339) (137,73)) (98,700) (24,764) (123,464) (22,875) (22,875) Movement in funds from ordin2ry activities 36,778 5,899 844 43.)21 40,073 Other movements Revaluation of investment property Disposal of assets Fair Value movement on investments Release Fountain Centre capitaliscd costs 114,J30 114,330 (900) 12 12 52,687 2,768 (192,686) {189,918) 55,45) (192.686} (22,901) 167,017 (900) Net movement in funds 203,79) (184,019) 844 20,620 39,173 Reconciliation of funds: Total funds brought forward 235,272 247,309 i 0,000 492,581 453,408 Total funds carried forward 439,067 63,290 10.844 513,201 492,i81
MAGHERACULMONEY CHURCH OF IRELAND STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023 Note 2023 2022 Fixed Assets Tangible fixed assets Investment Property Investments Total Fixed Assets 10 2,702,463 234,723 127,865 3,065,051 133.841 12 269,652 403,493 Current Assets Debtors Cash and cash equivalents Total Current Assets 13 54,653 104,110 li8,763 28,732 114,487 143,219 Current Liabilitie5 Creditors - amounts falling due within one year Bank overdraft and loans Total Creditors 14 1,976 29,816 31,792 1,110 53,021 54,131 Net Current assets 126,971 89,088 Total Net Assets 3,192,022 492,581 The Funds of the Parish Unrestricted Funds General funds Restricted Funds Endoivment Funds Revaluation Reserve Total Charity Funds 17 439,067 63,290 10,844 2,678,821 3,192,022 235,272 247,309 10,000 17 17 17 492,581 The notes on pages 9 to 16 are an integral part of these financial slalements. The financial statements on pages 6 to 8 were approved by the Board of Trustees on 8 October 2024 and signed on its behalf by: Mrs Frances Spense Trustee Mrs Tanya McKeever Trustee
MAGHERACULMONEY CHURCH OF IRELAND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 Note 2023 2022 Cash floivs from operating activities: Net eash provided by (used in) operating activities Adjustments 20,620 {21,837) (1,217) 39.173 4,862 44,035 19 Cash flows from investittg activities: Pur¢hase of property, plant and equipment Revalution of inve5tm¢nl property Fair Value movement on investments Investment reclassified as debtors Release of capitalised fountain centre costs Disposal of Property, plant and equipment Net cash provided by (used in) investing activities (13,412) (114,330) (55,455) 4,556 192,686 (8,233) 1,800 (6,433) 14,045 Cash flows from finaneing activities: Repayments of borrowing Loan interest (26,115) (39,017) 2,910 3,670 Net eash provided by (used in) financing activities (23,205) (35,347) Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period (10,377) 114,487 104,110 2,255 11 ?.232 114,487 20
MAGHERACULMONEY CHURCH OF IRELAf4D NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 l. Aeeounting policies The principal accouniing policies adopt¢d. judgements and key Sources of ¢stimation uncertainty in the preparation of th¢ financial statements ar¢ as follows.. al Basis of preparation The financial statements have been prepared on a going concern basis in accordance with Accounting and Reporting by Charities." Statem¢nt of Recommended Practice applicable to cliarities preparing Iheir accounts in accordance with the Finaiicial Reporting Standard applicable in th¢ UK and Republic of Ireland {FRS 102) Ichariiies SORP {FRS 102}I, th¢ financial Reporting Standard applicabl¢ in the UK and Republic of Ireland IFRS 10?). lli¢ Parisli meets the definition of a public b¢n¢fit entity under FRS 102. Assets and liabilities are initially recognised at historical cost and trdnsa¢tion value unless oihetNvise stated in the r¢levani accounting poliey note(sl. bl Preparation of aeeounts on a going concern b8sis The parish generally meets its day to day working eapit81 requirements from its annual income. The Trustc¢s have obtained and reviewed cash flow forecasts for the coming ycar and based on these ale satisfied that the Parish has resources to provid¢ a reasonable expectation that it can continue to meet its financial obligations as they fall due for th¢ for¢seeable future. Therefore. th¢5¢ financial statements have been pr¢pared on a going concern basis. e) Income Plate collections, w¢ckly envelopes and graveyard income ar¢ accounted for on a cash receipt5 basis as the amount is collected. Income arising from the rental of Parish Ccntr¢ facilities to third parties is recognis¢d when the parish has entitlement to the funds. any perforn)ance conditions attached to the incom¢ have been met, it is probable that th¢ incomc will be received and the amount can be measured reliably. Income from government 2nd other grant5, whcther'capilal, grants or 'revenue' grants. is rccognised when the charity has ent]tle¢nt to the funds, any peifomiat]ce conditions atta¢h¢d to the grants have been met, it is probabl¢ that the income will be Teceived and the amount can be measured reliably. Donations and gifts in kind are brought it]to th¢ accounts at their fair value to the Parish. d) Exptnditure Expenditure is recognised once ther¢ i5 a l¢gal or constThctive obligation to make a paym¢nt to a third paty. it is probable that settl¢m¢nt will be required and the amount of the obligation Can be measured reliably. rtecoverable VAT is charged as a Cost against the activity for which the expenditur¢ was incurted. el Tangible assets The assets of the Paiish comprise.. Church building and graveyard Glebe House Parish Centre Mullaglifame Hall Fixtures and fitlings and equipm¢nt
MAGHERACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Th¢ Church building and graveyard are deemed to be Heritage assets as defined by the Charities SORP IFRS 102). Tliese H¢ritaBe assets are not included on the balance sheet as infomiation on the cost or valuation 15 not available and such infortnation cannot b¢ obtained at a e05t comrnen5urate with the benefit to the users of tbc accounts and to the parish. The Glcbe House is recognised at insurance value. No depreciation has b¢¢n provided on ihe Glebe House as the current ¢5timat¢d residual valu¢ is not less ihan its carrying valu¢ and th¢ remaining useful life currently ¢xcccds 50 years. The Parish Centre is reco8nis¢d at insurance value. No depreciation ha5 been provided on the Parish Centre as th¢ cu[nt cstimated residual value is not less than its carrying Yalue and the remait]ing use1 lif¢ currently exceeds 50 years. Mullaghfame Hall is recognised at Ir15uran¢e value. No depreciation has been provided on the Mulla8hfame Hall as the cutt estimated residual value is not less than its catrying valu¢ and th¢ remaining useful life CUTtently exc¢¢ds 50 years. Fixtur¢s. fittings and equipment are recognised at e95t and we dcpreciated on a straight line basis ov¢r a period of10 years. The 2ssets' residual value5 and useful lives are reviewed, and adjusted. if appropriate, at the end of each reporting p¢riod. The effect of any change 15 ac¢ounted for prospcctively. Tangible assets are derecognised on disposal or when no future economic benefits are exp¢¢t¢d. On disposal. the difference between the disposal proceeds and the carrying atnount Is recognis¢d in thc statement orrinaftcial activities. fj Investment Propertie5 3 Castle Manor has been reclèssified from tangible fixed assets during the year ws it is h¢ld for investment potential. It Is recogniscd at insurance value. No depreciation has been provid¢d as th¢ property is maintained in good r¢pair and the Cuent estimated residu21 value is not less than it's carrying value and the remainin8 Us¢ful lif¢ of the building exceeds 50 years. g) Investments Fixed asset investmcnts comprising investments in RCB 2nd CIT Unit Trusts are stated at fair value at th¢ balaD¢¢ 5h¢¢t dat¢. Unrealised gain5 nd losses represent th¢ difference belweet] the fair value at the beginning and end of the financial year. h) C45h and cash equivalents Cash and cash equivalents includes cash in hand, d¢posit5 h¢ld at call with banks and bank oyerdrafis. il Financial instrum¢Dts Th¢ Parish only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially Tccognis¢d at trdnsaction price and subsequently tneasured at their s¢tt]¢mcnt value. j) Funds Funds Bre classified as either r¢stri¢t¢d fiujds or unrestricted funds. defined as follows. Restricied fvnds are funds subject io specifiG requirements as to th¢ir use which may be declated by the donor or ivith their authoTity 01 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 ther¢ from is used for the purpose defined in accordance with the objects ofthe Parish. Unr¢stricted fund5 ar¢ ¢xp¢ndable at the discretion of the tnjstees in furtherance of th¢ obj¢cts of th¢ charity. 10
MAGHERACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 2. Critit#l accounting judgements and estimation uncertainty Estimates and judgements made in t]i¢ process of preparing the financial statem¢nts ar¢ continually evaluated and are based on historical experience and other factors, including expectations of fuiure events that are believ¢d to b¢ r¢asonable under the circumstances. The Tru5t¢¢s do no( consider that there Are any critical judgements made in applying the Parish's accounting policies or that there are any ciitieal acwunting estima(es or assumptions which May haye a significani risk of causing a rnat¢rial adjustment to carrying amounts of assets and liabiliti¢S Within the next financi21 year. 3. Donations and legacies Unrestricted Fllnds 2023 Rcstricted Funds 2023 Endowment Total 2023 2023 2022 Plate collectlODS Weekly env¢lop¢s / rwo Tax recover¢d on donations Donations for ¢haritics Building fvnd giving Other 2.411 87.514 26.065 2,411 87,514 26,065 15,019 13,755 21,618 166.382 1.488 91.369 24,960 12,294 12.747 13.336 156.194 15.019 13.755 20.774 136.764 844 844 28,774 4, Other trading activitics Unrestriettd Restricted Funds Funds Total 2023 2023 2023 2022 Rentals from Parish Centr¢ Otlier rental incorne 6.010 6.000 4.902 6,010 6.000 4.902 441 5.980 5,500 5,066 Auction Other 17.35i 17,)53 16.540 5. Investments Unre5trieted Restritted Funds 2023 Funds 2023 Total 2023 2022 Dividends ¢¢Ived Bank int¢re5t 3.175 221 i,396 3,175 221 3.396 3,426 228 3,654 6. Charitablc Activities Unrestricted Restricted Fund5 Fund5 Totsl 2023 2023 2023 2022 Magazine income Grave yard income 729 729 2.000 2,729 579 835 1,414 2.000 2.729
MAGHERACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 7. Analysi5 of Expenditurc Unrtstrieted Restrieted Funds Fund5 Total 2023 2023 2023 2022 Genernting Funds Other 206 206 Unrestrieted Funds 2023 Rtstritted Funds 2023 Total 2023 2022 Charitable Attivities Wages and salaries Dioeesan eo$tslassessmcnt Church costs Gl¢b¢ costs Parish centre costs Graveyard costs Charitable donations Adminis(raiion costs 9.840 62.567 10.329 980 9.696 1,425 3,216 647 9,840 62,567 10,329 980 14.760 4.452 18.000 647 121,575 11.927 53.618 8,549 7.982 9,614 1,682 14,854 922 5,004 3,027 14.784 98,700 22,875 109,148 Unrestricted Funds 2023 Restritted Funds Total 2023 2023 2022 Other Costs Visiting pr¢acher expenses Fountain prograrn Sunday school and Bible classes Magazinc and publication expenditure Gifts Sp¢cial ev¢Dt ¢ost5 Castl¢ manor hous¢ Insurance Indcp¢nd¢nt ¢xaminer fee Web page maintenance Sundry costs Depieciation Bank charges Loan interest 100 6.000 1.094 1.048 33 100 6.000 1.094 1,048 33 685 2,017 2,408 1,920 600 1.979 3.218 753 2,909 24.764 100 6,000 1,183 595 261 1,322 1.766 3.318 1.860 600 1,519 5,418 768 685 2,017 2.408 1.920 600 1,979 3,218 753 2.909 24.764 3,671 28,381 8. Taxation MagheTaculmoney Church of Ireland is recognised as a chaiity for the purpose of ppplicabl¢ taxation l¢gislation and is therefore not subject to taxation on its charitable activities. 9. Analysis ofstaff costs. trustee rcmuneration and expellse5, and the cost of key management personnel Employee 2023 2022 Salaries and wage5 National insurance costs Total 9,840 11.927 9,840 11.927 12
MAGHERACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 The average number of employ¢¢s during the year, calculated on the basis of a head count. was as follows.. 2023 Number 2022 Number Ministerial support Adniinisiration Premises maintenance Key Manageineni and Trustees K¢y managcment are deemed (o compiise the Tn]stees. The parish paid exp¢ns¢s of £980 rclating to the runnin8 costs of the Glebe house which 15 o¢¢upi¢d by the recior. No trustee received any remuneration or reimburs¢m¢nt of ¢xp¢ns¢s during the year. A Trustee received 00 for lawnmower work during the y¢ar to 315t December 2023. 10. Tangible fixed asscts Fixtures. Mullaghflrne Fittings and Equipment Parish Glebe House 3 Castle Manor Centre Total Cost Ai beginning of year Additions Reclassification to investment properties Revaluation 141.639 18.769 13,412 160.408 13,412 1141,639) 2.678,821 32,181 2.711.002 (141.6391 1.868,242 1,868,242 664,124 664.124 146,455 146,455 At end of the year Depreciatio Accumulated depreciation Depieeiation charge for the year Depreciation reveTsal on reclassifIcation Ai end of the year 21.246 5.321 i,218 26,567 3,218 (21,2461 8.539 121.246) 8.539 NBV at be8int]in8 of the year NB V at end of the year 120.393 13,448 133.841 23,642 2,702,463 1,868,242 664,124 146,455 Investment Property 3 Castle Manor Total Cost At beginning of y¢ar Additions Reclassification from tangible fixed assets Revaluation At end of the year 120.393 114.330 234,723 120.393 114.330 234.723 NBV at begint]ing of the year NBV at end ofth¢year 234,7?3 234,723 13
MAGHERACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 J2. Inv¢stments Listed Other Investrntnts Investrnents Total Value Balance at beginning of the y¢ar Additions during the year Disposals during the year Irrecoverable amounts tak¢n to lllcome siatement Reanalysed as otlier debtors Fair value gain I Ilossl on investmenis Balonc¢ at end of the year 72,410 197,242 269,652 {192,6861 {192,686) (4.556) {4,556) 55,455 127.865 55,455 127,865 Listed Other Investments Investments Total Analysis of Investments at cost Other Listed Investtn¢nts Investments in RB Unit Trusts 58.224 14,186 72,410 58,224 14,186 72.410 13. Dtbtors 2023 2022 Sundry debtors Other debtors Prepayment 26,061 26.033 2.559 54.653 5,i68 21,477 1,887 28.732 14. Crcditors Amounts due within l year 2023 2022 Accruals and other creditors 1.976 15. Finantial irt5truments Th¢ ¢hurch hys th¢ following financial instruments.. 2023 2022 Loans #nd receivables held at #rnortlsed cost Cash and cash equivalents Sundry debtors Other receivables 104.110 52.094 2.559 158.763 114.487 26,845 1,887 143,219 14
MAGHERACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Financial liabilitics messured gt gmortiscd cost 2023 2022 Bank loans and overdraft$ Accruals and other creditor5 29,816 1,976 31,792 53.021 54,131 16. Analysis of Net Assets among Funds Unrestricted Restricted Total Fixed A55ets Investment Prop¢rty Investments 2,702.463 234,723 127,865 102,423 131.792) 3.135,682 2,702.463 234,723 127,865 158,763 (31.792) 56,340 3.192,022 Current Assets Current LiabilitlC5 Net assets at 31 Dttember 2023 56.340 17. Funds of the Parish Releasc capitalised Revaluation costs Re5erwe At At 31.12.2023 1.01.2023 Income Expenditure Endowment Doonaji Trust M¢Clinto¢k Family Grave Fund 10.000 10.000 844 844 i 0,000 844 10.844 Restricted funds Building fund Charity Fund 247.256 53 247,309 13.755 15,019 28.774 (8,091) {14,784) (22.875) {192,686) 2,768 63.002 288 63,290 (192,686) 2,768 Unrestricted funds G¢n¢ral Fund 235.272 160.242 (123.4641 167,017 439.067 Revglllation Reserve 2.678,821 2.678.821 Total funds 492.581 189,860 (146.3391 (192.6861 2,848.606 3,192,022 05e of Endowment Doonan Trust.. ThTS is a Trust io be used foT the m?inlenance of Mr Doonan's parents, gravES Mccliniock Family Grave Futsd.. Thi5 is a Fund to be used for the upkeep of thr Mcclinlork Farnily Graves 05e5 of RE51ricted Funds Building Fund." Thi5 is a Fund to be used foi pzyrnent for major church repair5. Charity Fund.. This 15 a Fund 10 be used foT donation5 to charities. 18. Colleetion for Third Parties No coll¢ctions were rnade on b¢half of Third Parties.
MAGHERACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 19. Reeontilixtion of net income l (expenditure) to tash flow from opergting activities 2023 2022 Net irteome I (expenditure) for the reporting period (as per the stAtem¢nt of finaneial activities Adjustrnents for: Depreciation charge5 Depreciation on disposal 3,218 5.417 1900) (In¢reaselldwr¢as¢ in debtors In¢r¢as¢l(decreasel in creditors 125,921) 866 345 Net cash provided by (used in) operating 8ctivitie5 (21,8371 4,862 20. Analysis of tash *nd c85h equivalents 202J 2022 Cash in hand Notice deposits (less ihan JO days) Total cash and cash equivalent5 104.110 104.110 114.487 114.487 16