CHARITY REGISTRATION NUMBER: NIC105746 Muckross Parish Church Unaudited Financial Statements 31 December 2024 MPSON NTANCY Chartered accountants 24 Main Street Kesh Co Femanagh BT93 1TF
Muckross Parish Church Financial Ststements Year ended 31 December 2024 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
Muckross Parish Church Trustees. Annual Report Year ended 31 December 2024 The trustees present their report and the unaudited financial statements of the charrty for the year ended 31 December 2024. Reference and admlnistrntive details Registered charity name Muckross Parish Church Charity registration number NIC105746 Princlpal office 11 Letter Road Aghnablaney Letter Kesh Co Femianagh BT93 2BB Tha trustees Rev C Eames MrA LoNvry Mrs V M¢Cutcheon Mr W Mccutcheon Mrs M Marshall Mr J Marshall Mr R Johnston Mrs A Johnston Mrs J Lowry Mrw Lowry Mrs J Johnston Independent examiner Gary Thompson Structureg governance and management Governing Document and Constitutlon of the Charity Chapter111 of the Constitution of the Church of Ireland govems Parishes and Parochial Organisation. The Select Vestry members are the Charity Twstees. Recruitment and Appointment of Select Vestry All members of the Church of Ireland who are over the age of 18 and are either resident Wtthin the parish or INe elsewhere but have been accustomed members of the congregation for the last three months, may register as members of the general vesty 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 Sdect Vestry is elected as part of this General Vestry meeting. The Selecl Vestry will hold their positions for a period of one year. Select Vestry members may be re4eGted annualty and there is no limit on the number of tenns vthich may be served.
Muckross Parish Church Trustees. Annual Report {contsnuedJ Year ended 31 December 2024 Structure. govemance and management (contsnuedj Organlsatlonal 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 tsYeSve 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 members are responsible for making decisions on matters of general concem 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 dI0$an synod. Special meetings may be convened at any time by the chairperson or churchwardens. ObjeGtives and actlvltles The charitable purpose of the Church of Ireland is the advancement of rel10n. 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 delDiery of the benefits of Christianity. As a resutt of activty in the pursuit of the advanrnent of the Christian religion, Muckross Parish has custody of propety and of records, materials and artefacts of slgnrfanCe to the cultural and religious heritage and maintenance of which is undertaken by the select vesty of the Parish. Achievements and performance Muckross Parish continues to support the work of other chariiies and missionary work by either making donations or holding special collections during the year. The Parish has grven 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 provKling public benefti. Flnanclal review The parish generated a surplus of £4.283 during the year ended 31 December 2024. The trustees pdicy on resep4es 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 17 February 2025 and sned on behalf of the board of trustees by.. Rev C Eames Trustee
Muckross Parish Church Independent Examinerfs Report to the Trustees of Muckross Parish Church Year ended 31 December 2024 I report on the financial statements for the year ended 31 December2024, 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 charitys trustees you are responsible for the preparation of the accounts in accordance with the Charities Acl (Northem Ireland) 2008. It is my ponSIbil to.. examine the accounts under section 65 of the Chariiies Act., to follow the procedures laid doNvn in the general Directions gtven by the Charty Commission for Northern Ireland under section 65(9)(b) of the Charities Act. arKI to state whether particular rnatters have come to my attention. Basis of independent examinerfs 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 section 65(9)(b) of the Charriies 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 ttems or discbsures in the accounts. and seeking explanations from the trustees conceming any such matters. My role is to state vthether any material matters have ¢wie to my attention giving me cause to believe: That accounts'ng records were not kept in accordance section 63 of the Charities Act That the accounts do not accord those accounting records That the accounts do not Comply with the accounting requirements of Ihe Charities Act That there is further information needed for a proper understanding of the accounts to be reached. Independent examinees statement I have completed my examination and have no concems in respect of the matters (1) to (4) listed above and. in connection with following the Directions of the Charity Commission for Northern Ireland. I have found n matters that require drawng to your attention. pson dependent Examiner GA Thompson Accountancy Bannagh Beg Kesh Co Fermanagh BT93 8BY
Muckross Parish Church Statement of Financial Activities Year ended 31 December 2024 2024 Unrestricted funds Total funds Total funds 2023 Note Income and endowments Donations and legacies other trading activities Investment income Other income 8.206 8,206 9,730 1,970 2,380 100 2,569 100 2,569 100 Total income 10.875 10,875 14,180 Expenditure Expenditure on charitable activities Total expenditure 6,592 6.592 6,593 6.593 18,271 18,271 Net incomel{expenditure) 4.283 4,282 (4,091) Other recognised gains and losses Gain on RCB General Unit Trust 2,842 7.125 2,842 7,124 11.152 7.061 Net movement in funds Reconciliation of funds Total funds brought fOard Total funds carried forward 140,170 147.295 140,170 147,295 133,109 140,171 The statement of financial activitses includes all gains and losses recoJnised in the year. All income and expenditure derive from continuing activities. The notes on pages 7 to 11 fomi part of these financial statements.
Muckross Parish Church ststement of Financial Posltion 31 December 2024 2024 2023 Noto Fixed assets Inveslments 11 112.416 109.574 Current assets Cash at bank and in hand 35,214 30,895 Creditors: amounts falling due within one year Net current assets 12 336 299 34,878 147,294 30,596 Total assets less currenl liabilitles 140,170 Funds of the charity Unrestricted funds 147,295 147,295 140,171 140,171 Total charty funds 13 These financial statements were approved by the l)oard of trustees and authorised for issue on 17 February 2025, and are signed on behalf of the board by. Rev C Eames Trustee Mrs V Mccutcheon Trustee The notes on pages 7 to 11 lo part of these financlal statsmonts.
Muckross Parish Church Statement of Cash Flows Year ended 31 December 2024 2024 2023 Cash flows from operating activities Net incomel(expenditure) 4,282 (4.0911 Adjustments for. Other interest receivable and similar income (2,569} {2.380} Changes in." Trade and other creditors 37 Cash generated from operations 1,750 (6,471) Interest received 2.569 2,380 Net cash froml(used in) operating activities 4,319 {4,091) Cash flows from investing activities Proceeds from sale of other investments 7,800 Net cash from investing activities 7,800 Net Increase In cash and cash equlvalents Cash and cash equlvalents at beglnning of year Cash and cash equivalents at end of year 4,319 30,895 35,214 3,709 27,185 30,894 The notss on pages 7 to 11 fomi part of thos0 financial statements.
Muckross Parish Church Notes to the Financial Statements Year ended 31 December 2024 General infomiation The charty is a public benefrt entty and a registered charity in Northem Ireland and is unincorporated. The address of the principal office is 11 Letter Road. Aghnablaney, Letter. Kesh. Co Femianagh, 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) (CharÈties SORP (FRS 102)) and the Charf(ies Act (Northem Ireland) 2008. Accountlng policies Tangible assets The Church Buihjing, Graveyard and Church Hall are deemed to be Herstage assets as defined by the Charities SORP (FRS102). Th&8e Herriage assets are not included on the Statement of Financial Position as infomiation on the Cost or valuation is not available and such infomation cannot be obtsined at a Cost commensurate with the benefrt to the users of the accounts and to the Parish. Basis of preparatlon The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilities and investmerrt properties measured at fair value through income or expenditure. The financial statements are prepared in sterling. which is the functional currency of the entty. Going concern There are no material uncertainties about the chariiys abilty to conlinue. Judgements and key sources of estimation uncertainty The Trustees do not consider that there are any critical judgements or estimates made in applying the Parish's accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk os causing a material adjustment to the carrying amounts of assets and liabilikn'es within the next financial year. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the chantys purposes. Designated funds are unrestrided fvnds eannarked by the trustees for particular fuiure project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of tsvo sulFclasses'. restricted income funds or endowment funds.
Muckross Parish Church Notes to the Financial Statements {eonlinu•dJ Year ended 31 December 2024 Accounting policies (coniinued) Incomlng resources Resources expended Expenditure is recognised on an accruals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fulty recovered, and is classrrd 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 trading activities. and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activrties that further its charitsble aims for the benefit of its beneficiaries. including those support costs and costs relating to the governance of the charity apportioned to tharitable activities. other expenditure includes all expendrture that is neither related to raising funds for the charity nor part of its expenditure on charitable tIv[tS. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activty are allocated directty to that activty. Shared costs are apportioned between the activtties they contribute to on a reasonable, justtfiable and consistent basis. Investments Unlisted equty investments a initially recorded at cost. and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impaimient. Listed investments are measured at fair value with changes in fair value being recognised in income or expendrture. Impaimient of fixed assets A review for indicators of impaimient is carried out at each reporting date, with the recoverable amount being estimated where such indi&2tors exist. Where the carrying value exceeds the re¢overable amount. the asset is impaired accordingly. Prior impaimients a also reviewed for possible reversal at each reporting date. For the purposes of impainnent 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 untt is the smallest identifiable group of assets that includes the asset and genete$ cash infiows that largely independent of the cash inflows from other assets or groups of assets. For impaimient testing of goo(fv*ill, the goodwill acquired in a business combinats.on Is, from the acqui5tbon date, allocated to each of the cash%enerating unrts that are expected to benefrt 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 {conbnuedJ Year ended 31 December 2024 Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donatlons Freewill envelopes Tax refund gift aid Church collections Harvest Gift Day Other donations 4.832 1.096 1.068 810 400 4,832 1.096 1,068 810 400 5,101 1,402 642 885 800 5,101 1,402 642 885 800 Grants Grant from Marshal Bereford's Fund 900 900 8.206 8,206 9.730 9.730 Other trading actfvities Unrestricted Total Funds Unrestrided Total Funds Funds 2024 Funds 2023 DCMS Scheme, VAT Recoupment 1.970 1.970 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest Col Trustees - Interest on Investments Interest from R.C.B Investments 77 308 2.184 2.569 62 304 2.014 62 304 2,014 308 2,184 2.569 2,380 2.380 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Church mag&ines 100 100 100 100 Expenditure on charitable activlties by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Muckross Parish 6.592 6.593 18,270 18,271
Muckross Parish Church Notes to the Financial Ststements (conllnued) Year ended 31 December 2024 Expendlture on charitable activities by actlvity type Actrrfsiies undertaken Total funds directy 2024 Total fund 2023 Muckross Parish 6,593 6,593 18,271 10. Independent examlnation fees 2024 2023 Fees payable to the independent examiner for. Independent examination of the financial statements 336 300 11. Investments Other investments Cost or valuation At 1 January 2024 Additions Fair value movements 109,574 2,842 112,416 At 31 December 2024 Impaimient At 1 January 2024 and 31 December 2024 Carrylng amount At 31 December 2024 112,416 109,574 At 31 December 2023 All investments shown above are held at valuation. 12. Credltors: amounts falling due withln one year 2024 2023 Trade creditors 336 299 10
Muckross Parish Church Notes to the Financial Statements (¢ontlnuedJ Year ended 31 December 2024 13. Analysis of charitable funds Unrestricted funds At 1 January 202 At Gains and 31 December losses 2024 Incorne Expenditure General funds 140,170 10,875 (6,592) 2.842 147,295 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 14. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Investments Current assets Credrtors less than 1 year Net assets 112,416 35.214 (336) 147.294 112,416 35,214 {336) 147.294 Unrestricted Total Funds Funds 2023 Investments Current assets Creditors less than 1 year Net assets 109,574 30,895 (299) 140,170 109,574 30,895 (299) 140,170 15. Analysls of changes In net debt At At 1 Jan 2024 Cash flows 31 DeG 2024 Cash at bank and in hand 30,895 4,319 35,214 16. Related parties There were no transadions with trustees during the year that require disclosure. 11