GALLOON PARISH CHURCH OF IRELAND RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Deslgnated Funds Funds 2024 2024 Restrirted Funds 2024 Total 2024 Total 2023 Re1 Donations and Collettions Proceeds from Fund Raising Events Donations for organ fund Investment Income Rental income Hall income Graveyard income Miscellaneous income Grants received Total Recelpts 32,992 3.102 32,992 5.682 31,696 8,533 2.580 636 3.783 636 3,783 823 1,900 3,354 9,638 58.808 548 3.764 993 1.900 3,392 1,200 52,025 823 1.9(X) 2,937 417 9,638 9.638 45.351 3,820 Pa Diocesan Assessment Church Running Costs Repair5 to church buildings Hall Running Costs Rectory Costs Graveyard costs Rental costs Administrative Costs Clergy costs Charitable Donations Sunday School Expenses Loan interest Sundry 28,655 5.026 1.610 28,655 5.026 11,247 1,890 1,936 1,250 1,306 1,185 740 1.434 589 315 2.373 27.068 3,746 9.638 1,890 2,573 1.926 1.250 1,320 1,056 2.670 954 814 1,936 1.250 901 1.185 740 1.434 589 315 2.373 405 2,241 Totsl Payments 46.014 2,295 9.638 57,947 45,619 Gain/lLossl on investments Excess of Receipt5 over Payments f¢r the year before transfers 664 1.525 861 6.406 Transfers between funds Excess of Receipts over Payments for the year 1,525 6,406 On behalf of the Trustees ¥.£ &u Mr Richard Bell Date:
GALLOON PARISH CHURCH OF IRELAND srATEMENT OF ASSEfs AND UABILMES AS AT 31 DECEMBER 2024 Unre5trirted Designated Restricted Funds Funds Funds 2024 2024 2024 Total 2024 Total 2023 Cash Funds Cash account Hall account Church Warden account Current account 5,549 5.549 6,929 19,681 8,304 5,254 18,307 6.929 19.681 Total Cash Funds 25,230 6.929 32,159 31,866 Investment Assets Other property Post office investments RCB Investments 178.220 37.376 10.715 178.220 37.376 10.715 138,220 51,811 10,522 Totsl Investment Assets 226.311 226.311 200,553 Assets retsined for the Parish'5 Use Church Hall Sunday school hall Rectory Other fixed assets 1.337.970 98,338 811.352 254,666 1.337.970 98.338 811.352 254.666 1.337,970 98,338 811,352 254,666 Totsl assets retsined for the Pari5h'5 Use 2.502.326 2.502.326 2,502,326 Liabilitles Bank Loan 124,9971 124.9971 Total Liabilities 124.9971 124.9971 Total Assets 2,n8,870 6,929 2,735,799 2,734,745 On behalf of the Trustees Mr Richard Bell Date:
GALLOON PARISH CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 3. Movement In Funds At Incoming Outgoing Investment Assets value increase/ Gain/{Loss) (decrease) At 01.01.24 Resotsrces Resour Transfers 31.12.24 Restricted Funds Restricted Funds 9,638 19.6381 9.638 19,6381 Unrestricted Funds Designated funds General Fund 5,404 2,729,341 3.820 44.931 12.2951 146.0141 6,929 2.728,870 613 2,734,745 48,751 {48.3091 613 2,735,799 Totsl Funds 2,734,745 58.389 {57.9471 613 2.735,799 Purposes of Deslgnated Funds The designated fund is for the purpose of covering the running costs of the parish hall. 4. Collections for Third Partie5 R.B.L Poppy appeal R.B.P Charities Orange Charities Clogher Diocesan Social Fund Clogher Board of Mission World Day of Prayer Mother's Union 432 242 242 242 100 119 58 1.434 The above amounts have been included in receipts for the year under"Donations and collections" and In payments for the year under'charitsble Donations"
GALLOON PARISH CHURCH OF IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 l. Accounting policies Set out below are the principal accounting policies which have been adopted in the compilation of the ReceÉpts and Payments Account and the Statement of Assets and Liabilities. a) Receipts and Payments Account All items of income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basis. b) Statement of Assets and Libilities i) The assets of the Parish, retained for'its own use comprise: Church Building and Graveyard Church Hall - Rectory Sunday School Hall Other fixed assets - organ purchased 2018 The Church Building and Graveyard are deemed to be Heritage assets as defined by the Charities SORP (FRS 102). These Heritage assets are not included in the statement of assets and liabilities as information on the cost of valuation is not available and such information cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the Parish. The Church Hall , Rectory, Sunday School Hall and Organ are in the accounts at the insurance value as per the 2023 insurance valuation. ii) Investments Fixed asset investments comprising other properties, post office and RCB investments are intially recorded at cost and are then subsequently stated at fair value at each year end date. 2. Reconciliation of cash funds Total cash funds at beginning of the year Total receipts for year Total payments for year Add investment interest transferred Less capital expenditure Add transfer from bank loan Add transfer from investments assets 31,866 58,172 (57,947) 216 (40,000) 24,997 14,855 Total cash funds at end of the year 32,159