GALLOON PARISH CHURCH OF IRELAND NOTES T THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 l. Accounting polldes Set out below are the principal accounting policies which have been adopted in the compilation of the Receipts and Payments A¢¢ount and the Statement of Assets and L4ablllties. al Receipts and Payments Account All items of income and expenditure Included withln the Recelpts and Payment5 Account have been accounted for on a cash recelpts basls. bl Statement of Assets and Llbllltles 11 The •ss•ts ol the Parlsh, r•talned for Its own US• wmprlse: Church Building ond Graveyard Church Hall - Rectory Sunday School Hall Other fixed assets - organ purchased 2018 The Church Building and Graveyard are deemed to be Herltage assets as deflned by the CharltSes SORP IFRS 1021. These HerStage assets are not Included In the statement of assets and Ilabilltles as Information on the cost of valuationls not avallable and such information cannot be obtained at a cost commensurate wlth the beneflt to the users of the account5 and to the Parlsh. The Church Hall , Rectory, Sundoy School Hall and Organ are In the accounts at the Insurance value hs per the 2023 insurance valuatlon. 111 Investments Flxed asset lrtvestments comprlslng other propertles, post office and RC8 Investments are Intlally recorded at Cost and are then subsequently stated at falr value at each year end date. 2. Reconclllatlon of cash funds Total cash funds at beglnning of the year Total recelpts for year Total payments for year Add Investment Interest transferred Less capital expendlture Le55 transfer to investments aetS 26,861 51,477 145.6191 156 11,0001 Total cash funds at end of the year 31,876
GALLOON PARISH CHURCH OF IRELAND RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlrted Desl8nated Funds Funds 2023 2023 Restricted Funds 2023 Total 2023 Total 2022 Recel Donations and Collections Proteeds from Fund Raising Event5 Donations for organ fund Inve5rment Income Re,i ¥ai income rlall ,n.eome G". aveyard income M".sce"aneous in¢ome C.-a-".s -eceived Total Receipts 29,946 6.298 1,750 2,236 31,696 8,533 42,135 6,459 548 3,764 548 3,764 993 1.900 3,392 1,200 52,025 201 3,738 926 1,800 2,997 802 59,058 993 1,900 3,115 277 600 5,855 600 600 45,S70 Pa D ocesa p Assessment Chu'rc* Running Costs Repairs to church bulldlngs Hall Running Costs Rectory Costs Graveyard costs Rental c05t5 Administrative Costs Clergy costs Charitable Donations Sunday School Expenses Sundry Men 27,068 3,146 27,068 3,746 23,151 2,767 600 2,573 2,573 1.926 1,250 1,320 1,056 2,670 954 814 2,241 986 1,820 1,250 1,209 1,076 2,545 1,707 494 3,199 1,926 1,250 937 1,056 2,670 954 814 2,049 384 192 Total Payments 41,869 3,149 600 45,619 40,204 Galn/lLoss) on Investments excess of Re¢elpts over Payn7ents for the year beloro transfers 3,701 2,705 6,406 18,854 Transfers between funds Excess of Re¢elpts over Payments for the year 3,701 2,705 6,406 18,854 On behalf of the Trustees Mr Richard Bell Date.. AK13/ 14c
GALLOON PARISH CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 l. Accounting poll¢les Set out below are the principal accounting pollcies which have been adopted in the compilation of the Receipts and Payments Account and the Ststement of Assets and Llablllties. al Recèipts and Payments Account All iterns of income and expendlture Included withln the Recelpt5 and Payments Account have been accounted for on a cash recelpts basis. bl Statement of Assets and UbllltS•9 The assets of the Parlsh, retalned for Its own uie comprlse: Church Building and Graveyard Church Hall - Rectory - Sunday School Hall - Otr*r fixed assets - organ purchased 2018 The Church Building and Graveyard are deemed to be Herltage assets as deflned by the Charit.,es SORP IFRS 1021. These Herltage assets are not Included In the 5t3tement of assets and Ilabilitles as Information on the cost of valuation Is not avallable and such information cannot be obtalned at a cost commensurate wlth the beneflt to the users of the accounts and to the Parlsh. The Church Hall, Rectory, Sunday School Hall and Organ are In the accounts at the Insurance value as per the 2023 Insurance Yaluatlon. lil Investments Flxed asset Invèstments comprlslng other propertles, post office and RC8 Investments are Intially recorded Jt C05t and are then Subsequently stated at falr value at each year end date, 2. R•conclllatlon of cash funds Total cash funds at beglnnlng of the year Total recelpts for year Total payments for year Add Investment Interest transferred Less capital expendlture Le55 transfer to investments assets 2S,861 51,477 145,6191 156 11,0001 Total cash funds at ènd of the year 31,876
GALLOON PARISH CHURCH OF IRELAND STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 202 Unrestrlrted Designated Restrlcted Funds Funds Funds 2023 2023 2023 Total 2023 Total 2022 Cash Funds Cash account Hall account Church Warden account Current account 8,164 150 5,254 8,314 5,254 18,307 6,015 2,699 18,147 18,307 Total Cash Funds 26,471 5,404 31,876 26,861 Investment Assets Other property Post office investments RCB Snvestments 138,220 51,811 10,522 138,220 51,811 10,522 127,040 50,420 10,216 Total Investment Assets 200,553 200,553 187,676 Assets retalned for the Parlsh's use Church Hall Sunday school hall Rectory Other flxed assets 1,337,970 98,338 811,352 254,666 1,337,970 98,338 811,3S2 254,666 1.229,752 90,384 745,728 228,810 Total assets retalned for the Parlsh's use 2,502.326 2.502.326 2,294,674 Total Assets 2,729,351 5,404 2,734,755 2,509,211 On behalf of the Trustees Mr Rlchard 8ell Date: