MAGHERACULMONEY CHURCH OF IRELAND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2024 CHARITY NUMBER: 105485 HASSARD MCCLEMENTS LIMITED CHARTERED ACCOUNTANTS AND REGISTERED AUDITORS 32 EAST BRIDGE STREET EIYNISKILLEN COUNTY FERMANACH BT74 7BT
MAGHERACULMONEY CHURCH OF IRELAND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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 2024 Charity Name: Magheraculmoney Church of Ireland Charity Reoistration Number.. 105485 Contact Address: 22 Ardess Road Tullnaglug Kesh County Fermanagh BT93 INX Trustees Rev F Rutledge (Resigned 29.02 ?0?4} Mr Gerald Knox Mr Glenn Johnston Mrs Jill Parkinson Mr David Morrow Mr Alan Crawford Mrs Louie Lee Mrs Frances Spence Mr Sydney Li Mrs Ruth Farrell Mr Alan Spence Mr Jonas Knox Mr Robert Mccurry Mrs Tanya McKeever Mrs Pat Robinson Mr Peter Booth (Resigned 19th March 2024) Mr Christopher Spence (Appointed 19111 March 2024) Mrs Gemma Spence (Appointed 19 March 2024) Mrs Diane Smith (Resigned 19, March 2024) Principal Office-bearers Clergy: Rev Francis Rutledtse l Rev Abraham Storey I Rev Alison Irvine (Started 20.06 ?0?4) Mrs Tanya McKeever Mrs Ruth Farrell Mr Sydney Liggett Mr Robert Mccurry Mr Glenn Johnston Mr Alan Crawford Church Treasurer: Honorary Secretary.. Church Warden- Clergy.. Church Warden- People: Glebe Warden- Clergy: Glebe Warden- People= Independent Examiner Hassard Mcclements Limited 32 East Bridge Street Enniskillen County Fermanagh BT74 7BT Bankers Danske Bank 5-7 Market Street Omagh County Tyrone BT78 1 BN
MAGHERACULMONEY CHURCH OF IRELAND TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present the annual report and accounts for Matsheraculmoney Parish for the year ended 31 December 2024. Objectives and Activities The charitable purpose of the Church of Ireland is the advancement of the Christian faith. The principal function of Maglieraculinoney Pai'ish is to support the advancement of the Christian religion by proniotiiits thi'ough tlie work" of maeracUlMOneY Parish. the whole mission of the Church, pastoral. evangelistic, social and ecumenical. Being open to. and en(Jatsino with society as a whole and offering support for those needing help are fundamental to the practical delivery of the benefits of Christianity. As a result of activity in the pursuit of the advanceinent of the Christian relioion, Magheraculmoney Parish has custody of property and of records, materials and artefacts of sionificance to the cultural and religious heritage and maintenance of which is undertaken by the Select Vestry of Ma(Jheraclllnioney Parish. Achievements, Performance & Public Benefit The Sunday mornino services in the parish church of St. Mary's, aim to nurture. support and develop the Christian faith within the conoregation. Life Groups met again through 2024. The life tsroups undertake worship, bible study. prayer and fellowship together. encouraoino outreach of love and care into tlie wider community. Tlie regular activities of the parish are aimed at engaging with all a(re groups. Children's church for 3-14 year5 old to seek to provide atse_appropriate bible teachino to the children, and a foundation based on Christian values, youth clubs and youth life oroups supporting those from I l years old up. Friends in the Afternoon providino social activities for our senior comiiiunity and Mothers Union for the ladies seeking similar inclusion. These groups met throughout 20?4. The pai'ish en(Fages with the wider commullity throiigh its outreach in the Parish Centre, linkino in with the Fountain Centre and the Courthouse Kesh Ltd. In the Fountain Centre, the groups u5inu the facility include Scouts, Guides and Rangers and Duke of Edinburgh, The Fountain Youth Club. Youth Life Group5 and Badminton Club. All except ihe latter, are for children or youno adults, giving them the opportunity to meet to develop educationally, physically, spiritually and in doing so enable community growth. The Badminton Club is open to all age groups in the community. Within the Fountain Centre are offices for the administration and youth work aspect of parish life where one mernber of staff is cuentlY 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 comTnunity, financial management in conjunction with Christians Against Poverty, health and well-being services. programs for farrning familie5, facilities for use of local organisations and café drop-in for all requiring snack food. As the church and parish centre are located some two miles from Kesh. the Fountain and Courthouse centre5 are more centrally located, more easily accessible and are all well equipped to facilitate outreach. This objective fit5 well with the parish vision of loving God, loving each other and loving those outside the church. Financial Review Throuoh freewill offering the parishioners continue to support the parish financially. The trustees, policy on reserves is to ensure that all ministry needs are met and reserves are used at the earliest opportunity.
Going Concern The ti'ustees have reviewed the budgets for the year ahead and are satisfied that there are adequate funds in place to ensure that the Parish can continue its activities and the financial statements for the year end ) l December 2024 can be sioned off as a (roing concern. Structure, Governance and Management Goveriiiiig Docunienf aiid Conslilutioii of ilie Cliarity Chapter111 of the Constitution of the Church of Ireland governs Parishes and Parochial Organisation. The Select Vestry Inembers are the Charity Trustees Recruiliiieiil uiiélAppoiiilnieii¢ ofseleci Ve51ry All members of the Church of Ireland who are over the aoe of 18 and al'e either resident within the parish or live elsewliei'e but have been accustomed members of the congreoation for at least three months, may register as members of the General Vestry of the parish. allowing tl)em 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 parl of this General Vestry meeting. The Select Vestry will hold their positions for a period of one year. Select Vestry Imembers may be re-eSected annually and there is no limit on the number of terms 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. Orguiiisn¢ioiial Slriiclure 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 curate assistant ("the curate"), the church wardens, the glebe wardens and generally not more than twelve other Members of the General Vestry elected at the General Vestry. The Select Vestry is chaired by the incuinbent or other member of the Clergy officiating in the parish. Select Vestry Ineinbers are responsible for Inaking decisions on matters of treneral concern and importance to the parish including deciding how parish funds are to be applied. The Select Vestry meet5 at times fixed by the members or by the Diocesan Synod. Special meetings may be convened at any time by the chairperson or the churchwardens. In 2024 the Select Vestry met 8 times during the year. Attendance at 8 of these meetings was in excess of 800/0. Statement of Trustees, Responsibilities The trustees are responsible for preparino the Trustees, Report and the financial statements in accordance with applicable law and regulations. The law applicable to charities in the Northern 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 Kin(rdom (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 Reportiiig Standard applicable in the UK and Republic of Ireland (FRS I O?)" aiid promulgated by the Institute of Chartered Accountants in the United Kingdorn and United Kingdom Law) Under Ihat law the trustees must not approve the financial statement5 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 preparino these financial staternents. the trustees are required to.. select suitable accountints t> policies and then apply them consistently. make judgments and estimates that are reasonable and prudent state whether the financial staternents 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 statemeiits. and prepare the financial statement5 on the going concern basis unless it is inappropriate to presume that the Parish will continue as a ooing concern. The Ii'ustees are responsible for keeping accounting records that are sufficient to show and explain the Parish'5 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 (Noithern Ireland) 2008 and the provision of the Constitution of the Church of Ireland. They are also responsible foi- safetsuarding 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 approving our trustees, annual report- there is no relevant infonnalion of which the independent examiner is unaware. and the trustees have taken all steps that they ouoht to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that inforniation. Independent Examiner The independent examiner, Hassard 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 Trustee Mrs Frances Spence Mrs Tanya McKeever Date.. 29111 October 2025
INDEPENDENT EXAMINER'S REPORT TO THE CHARITY TRUSTEES OF MAGHERACULMONEY CHURCH OF IRELAND We report on tlie accounts of Magheraculmoney Church of Ireland for the year ended 31 December 2024, which are set out on pa(res 6 to 16. Respective responsibilities of the charity trustees 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 Cliarities Act (Northern Ireland) 2013 and the Charities (Accounts and Reports) Reoulations (Northern Ireland) ?015. The charity's trustees consider that an audit is not required for this year under section 65(2) of the Cliarities 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) ?008. 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 Northern Ireland under section 65{9){b) 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 disclosures in the accounts, and seekino explanations from you as charity trustees concerning any such matters. Our role is to state whether any material Inatters have come to our attention oivino us cause to believe: l. That accountino 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 records. 3. That the accounts do not comply with accounting requirements of the Charities Act (Northern Ireland) 2008. and 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement We have completed our examination and have no concems 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 require drawing to your attention. HASSARD MCCLEMENTS LIMITED CHARTERED ACCOUNTANTS AND REGISTERED AUDITORS 32 East Bridge Street Enniskillen County Fermanaoh BT74 7BT Date.. 291h October ?0?5
MAGHERACULMONEY CHURCH OF IRELAND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrieted Restricted Funds Funds 2024 EDdoivment 2024 Total 2024 Total Note 2024 2023 Income l)onalions and ILgl& LILS Oiher Irading aLtivilie5 InvesliiiLnl5 Chai-ilal)IL aLlivilies 118,461 18,458 3,482 1,700 144.824 166,J8? 18.4)8 3,396 2,729 1,700 Total Income 142,101 168,464 189,860 enditure on: GcnLraiing funds Charitshle activities Other costs Total Ex enditure (75) (105,548) (28,460) 1134,U83) 17)) (126,970) (121,575) (28.960) (24,764) (156,OOi) {146,J39) (21.42?) (500) (21,922) Movement in funds from ordinary activities 8,018 4,441 12,459 43,)21 Other movements Revalualion ol- inveslmcnt properly Fair Value movemenl on investmLnts RelLase Fountain Cenlre Capitalised costs '] ran.sfers bciiveen funds 7,745 8,859 7,745 9,428 114,330 5i,4i5 (192.686) 12 17 569 17 (192,686) (176,082) 192,686 193,?55 17,173 {22,901) Net movement in funds {168,064) 197.696 20,620 Reconciliation of funds: Total funds brought forwArd 439,067 63.291 10,844 513,202 492,581 Total funds carried fonvard 271,00) 260,987 10,844 542,834 513,201
MAGHERACULMONEY CHURCH OF IRELAND STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024 Note 2024 2023 Fixed Assets -Faiigible fixed assets Inveslmcnt l)roperty Iniiestments Total Fixed Assets 10 2,788,9)0 2.702,462 242,469 234,724 l J7,?92 127,86) J.168,691 J,06i,Oi I 12 Current Assets DLbiors Casli and cash equiiralents Total Current Assets 13 i3,396 90,031 14J,427 54,6)3 104,110 l i8,763 Current Liabilities Creditoi's- amounts lalliiig due il'iihin one year BanL overdi'afi and loans TotAI Creditors 14 2,062 1.976 29,816 31,792 2,06? Net Current Rssets 141,365 126,971 Total Net Assets 3.310,056 3,192.022 The fi unds of the Parish Unrestricted Funds Gcnciyl funds Restricted Funds Endoivment Fund5 17 271,003 439,067 260,987 63.290 10,844 10,844 ? 767.222 ? 678.821 3,31 O,Oi6 ),192.022 17 17 17 Revaluation Reserve Total Charity Funds The notes on pagLs 9 to 16 are an integral parl of thcse financial 5tatemcnts. Thc financial statement5 on pages 6 10 8 were approved by ihc Board of Trustees on 29" October 2025 and 5ignLd on ils behaifby-. Mi's frances Spense -ri'ustee Mrs I'anya McKLcver I"I'ust¢e
MAGHERACULMONEY CHURCH OF IRELAND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 Note 2024 2023 Cash nows from operatiiig activities: Net cash provided by {used inl operating activities Adjusiments 20,620 (21,837) (1,217) 19 4,704 Cash flows from investing Activities: Pui'chase ol- propLrL>'. planl and cquipment RLiialuation ol- iniicslimLiiI propLI'I)' 'aii' valuL niovemeiil c)n iliiiLStmLiils Investment IL'Llas5ilied as debtors Release ol. capiialiscd lounlain centi'e costs Disposal of Properl),, plant and equipmeni Net Cash provided by (used in) investing activities (1,4?7) 113.41?) (7,74)) (114,330) {9.427) (i5,455) 4,556 192.686 (18.599) 14,04) Cash flows from financing activities: Repayments of borroiving Loan inlerc5t {30,3i7) 126,115) 541 2,910 Net cash i)rovided by (used in) financing activities (29,816) (?3,205) Change in cash 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 pei-iod (14,079) (10,377) 104,110 114,487 90,031 104,110 20
MAGHIRACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR LNDED 31 DECEMBER 2024 l. A¢counting pDIici¢s The prinLipal accounling policies adopied, judgernciits aiid key sources of e51imation uncenainty in the preparation of the financial statcm¢nt5 are as follows..
l Basis of prcp#rulion
-rile financial siaten)ents Iiavc becii prepared on a goiiig concern basis in accordance i%Jlth Accouiititi8 and Reponing by Chariiies.. Siaiement of IILCOI)Iiiiended PrclLiiCC applicahle to cl)arities PTepclrii)g iheir acLounis in accordaiicc i%'iih il)c Finaiicial RLporLing Staiidard applicable ii) (he UK and Republic of Ireland 11-'RS 1021 (Charities SORP IfRS 10211, Ihe finuncial Reporting Standard appliLabl¢ iii tlie UK and Repiiblic of IrLI?L iid11--RS 10?). The Parisli in¢¢ts die definilion of a public ben¢fJt cntity under fR8 102. Assets and liabilities are initially teco8nised at historical cost and irdnsaction value unless oiherwise stated ii) the r¢lcvant accounling policy noielsl. b) Prcp#ration of accounts on a going eoneern ba51S Tlie Pclrisli generally meets its day to day ivorking capitsl reqiiiTemeniS froiii Ils anniial incom¢. I'he Ttusiees have obtRined and revieivcd cash floiv forLCaSI5 for ilic Lomins )'ear and based oil Ihcsc arc satislied ihal tlic l)ari511 has rcsource5 Io PTovide a rcasonable expectation tliat il can continue io mcci ils financial obligaiions as (hey fall dLie loi the forcsc¢able fuluie. Thercfore. these financial staletnents have b¢cn prcpar¢d on a going Loncern basis. cl Income Plic te coll¥ctions. weekl}, Lnvelopes and gravcy¢ird income are a¢¢ounted for on a cash rcceipls basis as lh¢ amount is collect¢d. Iiicoii)L arisii)g Irom thL ienlal ol. PaTish Cenirc facilities io ihird parties is recogniscd ivhen the parish ha5 entitlLment to th¢ funds. any perfoiniance condiiions att1 Lhed io ihe inLome havc bceii Intti, il is probable ihat ihe in¢omc ivill be receivcd aiid ihe amount Can bc Incasured InLome from gov¢rniiient and oilier grants. Ivhetlicr'capital, grants or'revenur. grants. is recognised H,hen the charity has entitlement lo the funds, ny perforn]an¢¢ ¢onditiOllS c1ttaLhcd io the graiits have been m¢t, it IS Probable that th¢ income will be re¢cived and ihe amouiit can be measured reliably. Donaiion5 and gifts in kind are brought into th¢ accounts at thcir fair value to the Parish. dl Expenditure Expendilure is Tecognised once there 15 a legal or constructive obligation to make a payment to a tliird party, it Is probable that seitlement will be required and lh¢ amount of the obligation can be Incasured reliably. ]eLOverab1e VA T is char8ed as a cost against tl)c activity for which th¢ expenditure wa5 in¢utTed. el Taneible ass¢t5 The asscts of ihc PaTisI) cornprise.. ChurLli building and graveyard Glebe14ousc Pari511 Cenlrc Mullaglilarne 14all Fixlurc5 and fittin85 and cquipm¢nt
MAGHERACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEIVIENTS FOR THE YEAR ENDED 31 DECEMBER 2024 The Church building 2nd graveyard are deeined to be Heriiage as5¢t5 a5 defined by the Chariiies SORP {FRS 1021. TlJese Heritage ass¢ls are not includ¢d on thc balaiicc shc¢t as inforniation on the cosi or valuation is noi availablo and such infomation cannot be obtained at a cost Lommensuratc witli tlic b¢ncfit to Ili¢ users of the accounis and to the parish. The Glebe14ouse is recognised ai insurance value. No depreciaiion has been pmvided on the Glcb¢ House as ihe ¢urr¢nt estimaied residual value is noi Icss ilian its canyiiig valuc and ihc reiiiaii)ing useful life currciitly exceeds 50 yeais. MIL Parisli C¢iitrc 15 recognised ai insurJnce valuc. No depreciation l)as been provided on thc Parish Centte as tli¢ Current estimated residual Jaluc is not Icss tlian its can)'ing valuL and ihc rcmaii1in8 usefiil lifc currently exceeds 50 ycaTS. Mullaglif*me14all is re¢o811ised al ii)surance value. No dcpreciation has bccii provided on tlie Mullaghfarne Hall as the current estitnated residual VLIILIL is noi ILSS ihan its cait)'ing value alld tlie ren)aining useful life currently ¢xcecds 50 years. Fixturcs. fiitings and equipnient are recogniscd at ¢051 and are depr¢ciated on a straighi line basis over a period of 10 years. The assets, residual 'Ic liies iind uscful liv¢5 are rciiieived. and adjusted, if appropriate. ai the eiid of each reporting period. The eC¢t of any change is accounted for prospectively. Tangiblc asscts are dercLognised on disposal or whcii no futiire economic benefits are expecicd. On disposal, thc diffcreRce between the disposal proceeds and ihc carying an)ount is r¢Lognised in Ilie slaiement of financial 8¢tiviiies. Q Investment Properties i Castle Manor has be¢n reLlassified from tangiblc fixed assets during the year as it is held for invcstmenl POtentio1. It is iecognised at insurance value. No dcprcciation hclS been provilled as the property is mainlaiiied in 8ood repaiT and lh¢ CUent estimated r¢5idual valur is noi less than il's catrying valuc and tlic rcniliining useful life of ilic buildi118 exceeds 50 years. gl Inve51ment5 riled asset inv¢stinents comprising invesiments in RCB and CIT Unit Trusts ale staled ai fair value at the balan¢¢ sheet date. Unrealised gains lid losses r¢presci)t tli¢ dirrcrcnce beiween ilic fair value ai Ihe bcginiiing and end of the financial year. lil Cash and ea5h equii'al¢nts Cash and casli cquival¢nts includes cash in hwid, d¢posits held at call Ivith banks and bank ovcrdrafts. il Financial instrUtents Tlie Parisli only htL5 financial ass£ts and financial liabililic5 of a kind ihat qualify a5 basic financial instrun)ents. Basic financial instruments aTe initially recognised at transaction pric¢ and subsequently nieasured at their settlcm¢nt value. jl Fund5 riiiid5 are classifi¢d a5 either restricted funds or uiireslricied fuiid5, defined as follows. Rcstricied funds are funds siibjeci to specific requirements a5 to their use which may b¢ declared by the donor or with tlicir auihorsty or created IhrouBlI legal procc55es, bul Still witl)in thc wider objects of the Parish. Eiidowment funds are fiinds which have been Biven on the condition that the OTigiiial capital sum is not reduced, but the income there from is used for tlie purposc defined in a¢¢ordanc¢ with the objects ofthe Parish. Unres(ricled funds are expendable at the discreiion of th¢ trusiees in furth¢rance of the objects of the chaiily. 10
MAGHERACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2. Critical accounting judgements And estimation uncertainty Esiimates and judgcmcnis made in the proces5 of preparing the financial slaiem¢nts are continually cvaluated and are based on historical experience and othcr faetors, ii)cludiiig expcctalions of fuiure events tliat are believ¢d to be reasonable under the circumstaiice5. The Trustees do noi consider that tlierc are any critical judgcmuils niade in applying the Parisli's accounting policies or tl)at there arc any CTltical accounting esiin)aies or assujnptions i¥.hiLh n)ay liave a sigiiificant risk of causin8 a maierial adjustmcnt LO Carrying amounts of ass¢ts and liabilities within Ihe nexi financial year. 3. DonAtions and legacies Unrestricted Fund5 2024 Restricted Funds 2024 Endoivment Total 2024 2024 2023 Plat¢ collections Wcckly eni'elopts / rwo Ta¥ r¢cov¢r¢d oil donation5 Donaiioiis for cliarities Building fuiid givin8 Bequest aiid Icgacics Oiher 2.663 82,686 24,615 2,663 82,686 24.615 15,211 11,152 1.000 7.497 144.824 2,411 87,514 26,065 15.019 13,755 1.000 7.497 118,461 21,618 166.382 26.363 4. Oth¢r trAding activit1¢5 Unrestrictcd Funds 2024 Restricted Fund5 2024 Tot81 2024 2023 Rentals from Parish C¢nire Oihci renial incom¢ Auciion Oil)cr 6,125 6,002 6,125 6,002 6,010 6,000 4.902 441 17,353 6,331 18,458 6,331 18.4)8 S. Ithvestmtnts Unrcstricted Funds 2024 Re51ricted Fund5 2024 Total 2024 2023 Dividends r¢ceived Bank intCT¢S1 3.259 223 3,482 3.259 223 3.482 3.175 221 3,396 6. Charitable activitÉ¢s Llnrestricted Funds Re5trieted Funds Total 2024 2024 2024 2023 N4agazine iiicome OTave yard income 650 650 729 1,050 1,700 1,050 1,700 2,000 2,729
MAGHERACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 7. Analysis of Expcnditllre [Inr¢stricted Funds Restricted unds 2024 Total 2024 2024 2023 Ccnernting Funds Otl)er 75 75 75 75 Unrestrieted Funds 2024 Restricted Funds Total 2024 2024 2023 C.'lixritAble Aetii'ities Wages and 5alclries l)io¢o%an coslslassessnicni Clitirclj costs Glebc costs Parisli ccnlre CO%ls Gravcyard L051S Cliariiable donatiorts Administration Cosis 16,919 61.280 7.900 7.394 5.057 842 5.019 16,919 61,280 7,900 8,139 10.568 842 9,840 62,567 10,3?9 980 745 14,760 4,45? 18.000 647 15.166 20,185 1,137 126,970 105,548 21.422 1?1.575 Ilnrcstrict¢d Restrict¢d Funds Funds Total 2024 2024 2024 2023 Other Costs Mini51er expenscs Visiting prcaclier expeiiscs Minisiry staff trainiiig FoLinlain progiani Sunday scl)0011c nd Bible cla55CS Local oiilreach Magazint and publieaiion ¢xpeiiditur¢ Gifts Spccial event costs Casrl¢ njanor liouse 1.000 100 300 1.000 100 300 6,000 1,254 573 664 100 6.000 1,254 573 664 1.975 615 6.000 1,094 1.048 33 1.975 61) 685 500 2.926 i.121 2.250 1.000 600 ?.017 ?.408 1,920 3,121 2,250 1,000 600 1.922 3.361 758 541 28,460 liidepcndent examiner fee Legal aiid professional f¢es Wcb page tnainienance Siiiidry cost5 Deprccialioi) Bank ¢har8es Loan inteTCSt 600 1,922 1.979 i.218 753 2,909 24,764 758 541 28.960 iOO 8. Ta¥¥tion Magl?eraculinoney Church of Irtlllnd is recognised as a charity for the purpose of applicablc taxation legislation and is therefore not subjeci to taxation on lis chariiable activities. 12
MAGHERACULMONEY CHURCH OF IRELAND IYOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 9. Analysis of staff costs, trustee remuneration #nd expenscs. and the cost of key msnagen]ont pcrsonnel Eiijployees 2024 2023 Salaries and iyages National insurancc costs Total 16,889 9.840 16,919 9.840 Th¢ avcrd8e nuiiiber of cinployees during ihe yeai, calculated on the basis of a head counL ivas as follows.. 2024 P4umb¢r 2023 Number Miiiisterial 5UPPOrt Adininistration Pien)ises maintenance k"¢iJ A,laJ7ageFPFEIFI aiid Ti'usiees K¢y JnaMagciMent are decm¢d to comprise tlie Trustecs. Tlie parish paid ¢xpcnses of £8.139 r¢lating 10 tl)e running costs ofthe Glcb¢ house which is o¢¢upicd by the recior. No trustee received ally reniuiicration or reinibursenienl ol'expe115¢5 duFItI8 the year. A Truste¢ reccived £130.05 for scrvi¢ing grass culling cquipineni during tlie y¢ar to 3 Isi DeLemb¢r 2024. 10. Tangible fICd Assets Fixtures, Mullaghfarne f4 ittings And Hall Equipment P8rish Centre Glebe House Total C05t At beginning of ycar AdditlOn5 Rcvaluation At end ofihc year 1,868,242 664,124 146,455 32,181 2.711,00? 1,427 1.427 88,401 33.608 2.800.830 61,652 1.929.894 21,916 686,040 4,833 151 ?88 Depreciation Ac¢uniiilated deprecialion Dcprcciation charge for th¢ y¢ar At CDd of the year 8.539 3.361 51.900 8.539 3,361 11,900 NBV al beginning of the year NBV at cnd of tlie year 5.868.242 1,929.894 664,124 686,040 146,455 151 ?88 23,641 2,702.463 21.708 2.788,930 I l. InveslmeRt Property 3 Castle Manor Total C05t At beginning of ycar Addilions Revaluation Al end of ihe y¢ar 234,724 234,724 7.745 24?.469 7.745 242,469 NB V at be8inning of th¢ year NB V al end of tlic y¢ar 234.724 242.469 234.724 24?.469
MAGHERACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Investn]ents Listed Investments Investmertts Other Total Ilalue Balaiice at beginning of ihL year Fair value sain I Ilossl on invcstniciits Balance at end ol-thL year 127,865 127,865 9,427 137,292 137,29? Listed Inv¢stments Invcstmenl$ Other I'ot21 Analysis of Investments at cost Other Listed Iiivestmeiits Inve51menis in RB Unit Trusis 58,224 14,186 72,410 58,224 14,186 72,410 13. Debtors 2024 2023 Siindrv debtors OihLr dcbiors PrL'payincnt 24,615 26,033 2,748 5i.396 26,061 26,033 2,559 14. Creditor5 Amounts due within l ycar 2024 2023 A¢crua15 and other ereditors 2.062 1.976 Is. rinan¢ial instruments The church ha5 tlic folloiwng financial instrutnenis.. 2024 2023 LoaN5 reeeivables held at gmortised cost Cash tlnd casli cquivalcnts Sundry debiors Otlier receivables 90,031 50.648 2,748 143,427 104,110 52,094 2,559 158,763 Finaneial liabilities measured at amorti5ed cost 2024 2023 Bank loan5 and ovcrdrafts Accruals and other ¢rcdilors 29.816 1,976 31.79? 2.062 2.06? 14
MAGHERACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. AnAIysi5 of Net Assets #mong Funds Llnrestri¢ted Restricted Tot#1 FiNLd Asseis Inv¢stm¢ni Prop¢rty Invcslinciils Currcni Ass¢t5 Current LiabilitlC5 Net assets #t 31 Dcc¢mber 2024 2,788,9JO 242.469 lJ7,292 82.646 12,0621 3 ?49,275 2,788.930 242,469 137,292 143,427 (2.0621 3,310,056 60,781 60.781 17. Tr unds of thc Parish Transfers At 1.01.2024 between Funds Rcvaluation At Incomc ExpeNditurc R¢serve 31.12.2024 Endowment l)ooMaii I'rust Mccliiitock Faniily GravL Fund 10.000 844 10.000 844 10,844 10,844 Restrictcd funds Buildiiig Fund Cliarity fiiRd 16.756) (15.166) {21.922) 192,686 569 260.654 ?88 63,291 ?6,j63 192.686 569 260,987 Unrestricted fuDds G¢neral Fund 439.067 142.101 (134,083) {192.686) 16,604 271.003 R¢valuAtion Reserve 2.678.821 88,401 2,767.222 'rotal funds 3.192.0?- 168.464 1156.0051 105.574 J.310.056 Pur osc of End01en Doonan Tru51". Tliis is a Tru5110 be uscd for the mainl¢nance of MT Doonan's parents. gravcs. McClinlo¢k Fomily Gravc Fund.. This is a Fund lo iK u5¢d for ihe upk'tep of the Mccliniock Family GTOV¢S. oses of RLsiricied fLind5 Building fund.. Thi5 is a Fund 10 be used for payment for Inajor rhur¢h repairs. Charli} fiind.. This 15 a Fiind to bl ed for donations 10 cliarilie5 Trnnsfers tiVe¢n fiinds In ?010. Ilie SLleci Ve51ry un)nitnously agTeed lo provide £19?,686 from Parish funds for the cotnpleiion of (he Founiain CEnlre build lin full alignment iviih 115 oivn rharilable aiir5 and objKIiv¢51. -riiis ivas prcviousl}' rccorded as an Investment Filed Asscl in earlier accounis. but following a revieiv of the Pari5h¢5 Jssets and rninuits in ?0?3. it wa$ rcclassificd as a donatTon. This is borne out by Ihe Select Vc51ry IInuteS and 15 consistenl with the treatment of the donaiioR by Ihc bentficiary. Tli¢ £19?.686 donaied 10 I'lie Founiain INII Lid wa5 r¢l¢ased froin Ili¢ Building Fund in ihe 10)3 acrounis upon recla55ification. However. a5 tlie Building fund is a le51Cled fund wiihin Ihc Pari511 for 115 oivn buildings. the ?0?4 accoun15 reflect ihe iran5fer of £19? 686 from ilie unre51ri¢ied General Fund lo the Building Fund 10 r¢in51al¢ th¢ value lield In Iliai reslricicd fund. 18. Collection for'fhird Parties No coll¢ctioiis ivere niade on behalf of Third Parti¢s. 15
MAGHERACULMONEY CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 19. Reconcilidtion of nct income I Icxpcnditure) to t#sh flow from operating #etivities 2024 2023 Yet income I lexptnditurel for the reporting period l#s per the Statemcnt of rtn#ntiMI actii'itios ,Idjustment5 for: DLpreciaiion cliargcs DepTeLic1tion 011 disposal 3,361 3,218 {Increasellde¢rcasc iii dcbiors IncreasLI{dccr¢asel iii ¢rediiors 1.257 86 125.9211 866 'et cash provided by luseil tnl op¢rating actii'ities 4,704 121.837) 20. èln#lysis nf cash 9nd eash cquivalcnts 2024 2023 Cash in hand Noli¢¢ dcposit5 Ile85 than 30 days) Total cA5h #nd ca%h ¢quivalent5 90.031 104,110 104,110 16