CHARITY REGISTRATION NUMBER: NIC105746 Muckross Parish Church Unaudited Financial Statements 31 December 2023 OMPSON ACCOUNTANCY Chartered accountants 24 Main Street Kesh Go Fermanagh BT93 1 TF Muckross Parish Church Financial Statements Year ended 31 December 2023 Page Trustees, annual report Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Statement of cash flows Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 13 Notes to the detailed statement of financial activities 14 Muckross Parish Church Trustees. Annual Report Year ended 31 December 2023 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023. Reference and adminlstrative details Registered charity name Muckross Parish Church Charity registration number NIC105746 Principal office 11 Letter Road Aghnablaney Letter Kesh Co Fermanagh BT93 2BB The trustee8 Rev C Eames Mr A Lowry Mrs V Mccutcheon Mr W Mccutcheon Mrs M Marshall Mr J Marshall Mrs C Johnston Mr B Johnston Mr R Johnslon Mrs A Johnston Mrs J Lowry Mr W Lowry Mrs J Johnston Independent examiner Gary Thompson Structure, governance and management Governing Document and Constitution of the Charity Chapter 111 of the Constitution of the Church of Ireland governs Parishes and Parochial Organisation. The Select Vestry members are the Charity Truslees. Recrultment and Appointment of Select Vestry All members of the Church of Ireland who are over the age of 18 and are either resident within the parish or live elsewhere but have been accustomed members of the congregation for the last three months, may register as members of the general vestry of the parish. allowing them 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 part of this General Vestry meeting. The Select Vestry will hold their positions for a period of one year. Select Vestry members may be re-elected annually and there is no limit on the number of terms which may be served. Muckross Parish Church Trustees, Annual Report (eontlnuedj Year ended 31 December 2023 Structure. governance and management fcontinuedj Organisational Structure 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, the churchwardens, the glebewardens and generally not more than ￿e7Ve other members of the general vestry elected at the General Vestry. The select vestry is chaired by the incumbent or other member of the clergy officiating in the parish. Select vestry member5 are responsible for making decisions on matters of general concern and importance to the parish including deciding on how parish funds are to be applied. The select vestry meets at times fixed by the members or by the diocesan synod. Special meetings may be convened at any time by the chairperson or churchwardens. Objectives and actlvltles The charitable purpose of the Church of Ireland is the advancement of religion. The principal function of Muckross Parish is to support the advancement of the Christian religion by promoting, through the work of Muckross Parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Being open to and engaging 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 advancement of the Christian religion, Muckross Parish has custody of property and of records, materials and artefacts of significance to the cultural and religious hefitage and maintenance of which is undertaken by the select vestry of the Parish. Achlevements and performance Muckross Parish continues to support the work of other charitlés and missionary work by èither making donations or holding special collections during the year. The Parish has given careful consideration to the Charity Commission of Northern Ireland's guidance on public benefit to ensure that all activities undertaken during the year have helped to achieve the Parish's aims and objectives, as well as providing public benefit. Financial review The parish operated at a deficit of £4,090 during the year ended 31 December 2023. The trustees policy on reserves is to ensure that sufficient reserves are retained to meet all future expenditure requirements as well as potential future capital projects. The trustees, annual report was approved on 19 March 2024 and signed on behalf of the board of trustees by: Rev C Eames Trustee Muckross Parish Church Independent Examiner's Report to the Trustees of Muckross Parish Church Year ended 31 December 2023 I report on the financial statements for the year ended 31 December 2023, which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes. Respective responsibilities of trustees and examiner As the Charity's trustees you are responsible for the preparation of the accounts in accordance wrth the Charities Act (Northern Ireland) 2008. It is my responsibility to.. examine the accounts under section 65 of the Charities Act., to follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65{9>lb) of the Charities Act., and to state whether particular matters have come to my attention. Basis of independent examiner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under seclion 65{91(b) of the Charities Act. The 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 seeking explanations from the trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: That accounting records were not kept in accordance with section 63 of the Charities Act That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of th8 Charities Act That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect of the matters {11 to14) listed above and. in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no atters that require drawing to your attention. son endent Examiner GA Thompson Accountancy Bannagh Beg Kesh Co Fermanagh BT93 8BY Muckross Parish Church Statement of Financial Activities Year ended 31 December 2023 2023 Unrestricted funds Total funds Totsl funds 2022 Note Income and endowments Donations and legacies other trading activities Investment income Other income 9,730 1,970 2,380 100 9,730 1,970 2,380 100 7,622 2,409 74 Total income 14,180 14,180 10,105 Expenditure Expenditure on charitable activities Total expenditure 18,270 18.270 18,271 18,271 5,353 5,353 Net lexpendllure)Ilncome (4,090) (4,091) 4,752 Other recognlsed galns and losses Gain on RCB General Unit Trust 11,152 7,062 11,152 7,061 {17,451) {12,699) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 133,109 133,109 140,171 145,808 133,109 140,171 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Thé notos on pages 7 to 11 fomi part of these flnancial statements. Muckross Parish Church Statement of Financial Position 31 December 2023 2023 2022 Note Fixed assets Investments 12 109,574 106,223 Current assets Cash at bank and in hand 30,895 27,185 Creditors: amounts falling due wlthln one year Net current assets 13 299 299 30,596 140,170 26,886 133,109 Total assets less current liabllltles Funds of the charity Unrestricted funds 140,171 140,171 133,109 133,109 Total charity funds 14 These financial statements were approved by the board of trustees and authorised for issue on 19 March 2024, and are signed on behalf of the board by: L/r)1 ' Mrs V Mccutcheon Trustee ev C Eames Trustee The notes on pages 7 to 11 fom) part of these financial statements. Muckross Parish Church Statement of Cash Flows Year ended 31 December 2023 2023 2022 Cash flows from operating activities Net (expenditure)lincome (4,091) 4,752 Adjustments for Other interest receivable and similar inGome (2,380) (2,409) Changes in.. Trade and other creditors (1) 2,342 Cash generated from operations (6,471) Interest received 2,380 2,409 Net cash (used in)Ifrom operating activities {4,091} 4,751 Cash flows from investing activities Proceeds from sale of other investments 7,800 7,800 Net cash from investing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 3,709 27,185 4,751 22,433 27,184 30,894 The notes on pages 7 to 11 form part of these financial statements. Muckross Parish Church Notes to the Financial Statements Year ended 31 December 2023 General information The charity is a publi¢ benefit entty and a registered charty in Northern Ireland and is unincorporated. The address of the principal office is 11 Letter Road, Aghnablaney, Letter, Kesh, Co Fermanagh, BT93 2BB. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102}} and the Charities Act (Northern Ireland} 2008. A¢¢ounting policies Tangible assots The Church Building, Graveyard and Church Hall are deemed to be Heritage assets as defined by the Charities SORP (FRS1021. These Heritage assets are not included on the Statement of Financial Position as information on the cost or valuation is not available and such information cannot be obtained at a cost commensurate with the benefit to the users of the accounts and lo the Parish. Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the enlity. Going concern There are no material uncertainties about the charivs ability to continue. Judgements and key sources of estimation un¢ertalnty The Trustees do not consider that there are any critical judgements or estimates made in applying the Pari8h's a¢¢ounting policies or that Iheie are any critical accounting estimates or assumptions which may have a significant risk os causing a material adjustment to the carrying amounts of assets 8nd liabilities within the next financial year. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Reslricted funds are subjected to restrictions on their expendilure declared by the donor or through the terms of an appeal, and fall inlo one of sub-classes.. restricted income funds or endowment funds. Muckross Parish Church Notes to the Financial Ststernents (continued) Year ended 31 December 2023 Accounting policies (conlinued) Incoming resources Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities. events, non- charitable Irading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of ils beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for Ihe charity nor part of its expenditure on charitable activilies. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs atlributable to a single activity are allocated directly to thal activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Investm8nts Unlisled equity investments are initially recorded al cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured al fair value with changes in fair value being recognised in income or expenditure. Impalmient of fixed assets A review for indicators of impairment is carried out at eaeh reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assels or groups of assets. For impaiment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units thal are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Muckross Parish Church Notes to the Financial Statements (￿ntinued) Year ended 31 December 2023 Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Donations Freewill envelopes Tax refund gift aid Church collections Harvest Gift Day Other donations 5,101 1,402 642 885 800 5.101 1,402 642 885 800 4,968 1,141 503 910 100 4,968 1,141 503 910 100 Grants Grant from Marshal Bereford's Fund 900 900 9,730 9,730 7,622 7,622 Other trading activitles Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 DCMS Scheme, VAT Recoupment 1,970 1,970 Investment income Unrestricted Total Funds Unrestricted Total Funds Fund8 2023 Funds 2022 Bank interest Col Trustees - Interest on Investments Interest from R.C.B Investm8nts 62 304 2,014 62 304 2,014 2,380 24 335 2,050 24 335 2,050 2,380 2,409 2,409 Other income Unrestricted Total Funds Unrestricted Total Fund5 Funds 2023 Funds 2022 Church magazines 100 100 74 74 Expenditure on charitable actlvities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Muckross Parish 18,270 18.271 5,353 5,353 Muckross Parish Church Notes to the Financial Statements (continu Year ended 31 December 2023 Expenditure on charitable activities by activity type Activities undertaken Total funds directly 2023 Total fund 2022 Muckross Parish 18,271 18,271 5.353 10. Independent examination fees 2023 2022 Fees payable to the independent examiner for.. Independent examination of Ihe financial statements 300 300 11. Investments Other investments Cost or valuation At 1 January 2023 Additions Disposals Fair value movements 106,223 {7,800) 11,151 109,574 At 31 December 2023 Impairment At 1 January 2023 and 31 December 2023 Carrying amount At 31 December 2023 109,574 106,223 At 31 December 2022 All investments shown 8bove are held at valuation. 12, Credltors: amounts falllng due wlthin one year 2023 2022 Trade creditors 299 299 10 Muckross Parish Church Notes to the Financial Statements (contlntsèd) Year ended 31 DeGember 2023 13. Analysis of charitable funds Unrestricted funds At 1 January 202 At Gains and 31 December losses 2023 Income Expenditure General funds 133,109 14,180 (18,270) 11,152 140,171 At 1 January 202 At Gains and31 December losses 2022 Income Expenditure General funds 145,808 10,105 (5, 353) {17,451) 133,109 14. Analysis of net assets between funds Unrestricted Total Funds Funds 2023 Investments Current assels Creditors less than 1 year Net assets 109,574 30,895 (299) 140,170 109,574 30,895 1299) 140,170 Unrestricted Total Funds Funds 2022 Investments Currenl assels Creditors less than 1 year Net assets 106,223 27,185 (299) 133,109 106,223 27,185 (299) 133,109 15. Analysis of changes In net debt At At 1 Jan 2023 Cash flows 31 Dec 2023 Cash at bank and in hand 27,185 3,710 30,895 16. Related parties There were no transactions with trustees during the year that require disclosure. 11 Muckross Parish Church Management Information Year ended 31 December 2023 The following pages do not form part of the financlal statements. 12