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 ma￿eracUlMOneY 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 cu￿entlY 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 e￿C¢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¢ CU￿ent 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 instrUt￿ents
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 activitɢs
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 fI￿Cd 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 End01￿￿en
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 I￿InuteS 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 le51￿Cled 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