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
Re￿1
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