CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2022 STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT) Note Unrestrlcled Fund$ Re$trt¢tsd Funds Total 2022 Unrestr5cted Funds Restrlctsd Funds Total 2021 Ineomo and 8ndowmonts from: Charitable AciNibes 1,088,92g 1,315,571 2,404.500 1.149,357 968,021 2.117,378 Inve51rnents 2,790 72.763 75,553 2,657 65.332 67,989 Other 14,047 212,892 226.939 13.268 246.626 259.894 Total 1.105,766 1,801.226 2,706,992 1.165.282 1,279.979 2,445,261 Exp8ndlturo on: Charitable AclThiilies 935.024 1,340,801 2.275.825 976.955 1,047.540 2.024.495 Inveslments other 118.ogn 175.384 157.28Y 18.450) 238.680 230.230 Total 916.927 1,516.185 2.433,172 968.505 1,286.220 2.254.725 NET Ioulngylncome 188.839 85.041 273,880 196.777 1fj.241} 190,536 Gainsloosses) on inve51ments {11.9251 1217.5161 {229.441) 7.759 237.638 245.397 Transfers 151.0901 51.090 1239.9551 239,955 N•t Movomont In Funds 725.824 181.3851 44.439 135,419) 471.352 435.3 R•conclllatlon of funds Tolal Funds broht forward 21 637.746 3,025,861 3.663,607 673,165 2.554.509 3,227,874 Total Fund$ canred fornard 763,570 2,944,476 3.708,046 637.746 3,025.861 3.663,607 The slatement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities The notes on pages 15 to 32 fom part of these accounts 12
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 BALANCE SHEET Notes 2022 2021 Fixed assets Tangible assets Investments 14 15 15.838 2 448 333 2,464,171 21.118 2 677 773 2,698,891 Current assets Debtors Cash at bank and in hand 17 18 312,631 1357 124 1,669.755 324,381 1102436 1,426,817 Current Liabilitses Credilor5- amounts falling due within one year 19 168 112 Net current assets 1501643 1364 193 Total Assets Less Current Liabilities 3 965 814 4 063 084 Creditors.. amounts falling due after more Ihan one year 20 {257,768) {399.477) Total Net Assets Funds Unrestricted funds Restricted 21 21 763.570 2 944 476 637.746 3 025 861 Total Funds Theses financial statements were approved and authorised for issue by the Diocesan Council on on its behalf by: . and signed (Clerical Honorary Secretary) (Lay Honorary Secre The notes on pages 15 to 32 form an integral part of these financial slatem8nts. 13
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 December 2022 2022 2021 Notes Cash flows from operating activities Cash generated from operations 24 202,723 (31,700) Investing activities Purchase of tangible fixed assets Investment income received {10,534) 67.9B9 75,553 Net cash (used in)Igenerated from investing activities 278,276 25,755 Flnancing activities Increasel(decrease) in bank loans (23,587) 155,781 Net cash used in financing actlvltles (23.587) 155,781 Net increasel{decrease) In cash and cash equivalents 254,689 181,536 Cash and cash equivalents of beginning of year 1,102,435 920,899 Cash and cash equivalènts at end of year 1,357.124 1,102.435 Relatlng to: Bank balances and short term deposits 1,357,124 1,102,435 14
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS ACCOUNTING POLICIES The PTin¢ipal accounting policies, judgments and key sources of estimation uncertainly are set out below. (a) Basis of accounting These financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards, the Statement of Recommended Practice (SORP} Accounting and Reporting by Charities" effective January 2015 and FRS 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" The Diocesan Council Members consider that these accounting policies are suitable, have been consistently applied and are supported by reasonable and prudent judgmenl and estimates. The Diocese of Down and Drornore meets the definition of a public benefit entity undef FRS 102. The financial statements are prepared in accordance wilh the historical cost converbtion. (b) Going concern The Diocesan Council has reviewed the budget for the year ahead. and is satisfied that there are adequate funds in place to ensure that the Diocese can continue its activities. There are no material uncertainties about the organisation's ability lo continue, and on that basis it is a going concern. (c) Income Recognition Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. Income is deferred only when the charity has to fulfil conditions before becoming fully entitled to it or where the donor has specified that the income is to be expended in a future period. Grants. including capital grants. from the govemment and other agencies have been included as income from activities in furtherance of the charity's objects where these amount to a contract for services, but included as donations where the money is given in response to an appeal or with greater freedom of use. for example. government block grants. Donated facilities are included al the value lo the charty where this can be quantified and a third paty is bearing the cosl. No amounts are included in the financial statements for services donated by volunteers. (d) Expenditure Expenditure is included in the Statement of Financial Activities on an accruals basis. exclusive of any VAT which can be recovered. Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs. which are attributable to mofe than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of lime spent by staff on those activities. (el Fund Accounting Designated funds are unreslricted funds set aside at the discretton of the trustees for specific purposes. Unrestricted funds are funds that are available for use at the trustees, discretion in furtherance of the objectives of the Diocese in accordance with the regulations that govern the Diocesan Council. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted by the funder to that area or purpose. 15
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS (CONT'DI (f) Investments All income from investments is a¢Gounted for on an accruals basis. Deposit interest receivable, expenses and interest payable are accounted for on an accruals basis. Listed investments comprise those quoted on a Stock Exchange. These investments have been valued at market value which is based on Ihe middle market prices ruling at the close of business on 31 December 2022. Any realised profils or losses. arising on fixed asset investment sales are taken direct to the slaternent of financial activities. Profits or losses are calculated on the average cost basis. (g) Depreciation of tanglble fixed assets Tangible fixed assets are stated al cost less depreciation. Depreciation is PTDvided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful lrfe, as follows.. Equipment, Fixtures & Fittings Freehold Buildings 25% reducing balance 2 % straight line Buildings are not depreciated. 11 is the policy of the Diocese to maintain ils properties in a state of good repair. The Diocesan Council's assessment of the residual value (based on values prevailing at acquisition) and useful economic life of the long leasehold property is such that the charge for depreciation would not be significant- consequently this property is not depreciated. The depreciation rate forfixtures & rrtting and computei equipment was changed to reducing balance from straight line a5 the Council feel this is a better reflection of the value of the assets to the Di0se. (h) Impaimient of fixed assets At each balance sheet date, the carrying amounts of tangible and intangible assets are reviewed to detemiine whether there is an indication that those assets have suffered an impairment loss. whe the carying value exceeds the estimated recoveTable amount (being the greater of fair value less costs to sell and value-in-usej, an impaimient loss is recognised by writing down the assets cash-generaling units to their recoverable amount. An impairment Ioss 15 recognised immedialely in the profit and loss. Any reversal of a previous impairment loss is similarly recognised immediately in the profit and loss. {1} Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. li) Cash at bank and in hand Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturitie5 of three months or less. (kl Creditors and provlslons Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the Iransfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised al their settlement 8mount after allowing for any trade discounts due. (l} Financlal instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instrument5 are initially recognised al transaction value and subsequently measured at their settlement value. 16
CHLIRCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS (CONT'DI (m) Pension costs The Diocese contriblfrtes to the full costs of the pension scheme for staff of the Down and Dromore & Connor Joint Committee and the full cost of pension contributions for staff employed by the Diocesan Council. Contributions payable are charged to the Revenue Account in the period to which they relate. These contributions are invested separately from the assets of the Diocesan Council. Income from charitable activities 2022 Urtr05tr4¢t8d Funds 2021 Unfestricted Funds 0è$19nated Funds Restrlcted Funds Total Deslgnatod Funds Restrlct8¢J Funds Total Pafochial 8sses5menls Mission & ministry receip15 834.432 834.432 851,340 851,340 47,175 158,947 1,009.664 1.215.786 34.460 147,706 863,254 1.045.420 47,175 993.379 1,009.664 2,050.218 34.460 g99,046 863,254 1.896.760 Grants Governmenl gfanl JRS 10.000 38.375 305.9)7 354.282 54,777 101,806 202.583 15.074 2.961 18.035 Totsl 57.175 1.031.754 1.315,571 2.404.500 80.460 1.(8.697 968.02? 2.117.378 Income from investments 2022 2021 D•slgnatod Fund5 Unrestrictod Funds R•strlctad Funds Total Deskgnatod Funds Unrestrlctsd Funds Re3trlcted Funds Totsl Dividends Interesl reNable 2,790 70.738 73,528 2.025 2,025 2.657 65,278 67,935 54 2,790 72,783 75.553 2.657 65.332 67,989 Other Income 2022 2021 D¢$lgnated Fund¥ Unr$strletsd Fund$ Restrictod Total 0oslgn•ted Fund$ Unre5tflcted Fund$ Total Fund$ Funds Sundry Items Slipet$ 14.047 13.928 27,975 198.964 198,964 13.268 15.840 230.786 29,108 230,786 14,047 212,892 226.939 13.2fj8 246,fj26 259,894 17
000 ¢J o ¢0 0 O 00 &• w oooooooooo Oooor000 o o c> o tt) o aooo 0000 oooo 00 000000 OOOO# Tr- Do00 000 c)00 o (¥ 000 000 OOC> ro o o o U) fn (n •) r c o) o) E c IFJ Iliilllllll, J J ? ? £££L o o o o o o o o o o o o) (n (n (O ti) lil 7J T a) oj'c c'c'c c cO¢JUUL)L)L)00000 WW (n (D L (L (L CL fL r£ r£ tr V U U U (J 4 L> L) (J U U O <r
00000 00000 i N o ¢£1 ¢r• 00 000 ooo ¢£i (O 00000 ooooc (rj O O Q Q o D c> o 0> (w o 00000000 aoooo (Doo 00 o o o o) o tsj ¢0 O vj E E E £L£ c c O O O O Lk LL V ¢J (J c r c c o a) ts o o o o
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS (CONT'DI Breakdown of expenditure on charltable activities Notes 2022 2021 Grants & Ministry Support Priorities, fund Central Church Assessments Clergy Pension Project Delivery Support Costs 294,019 62,920 170,304 742.121 684,436 322,025 84,029 58.988 172,044 720.043 666,056 323,335 10 2,275.825 2.024.495 Grants and support for ministry 2022 2021 Designated UnE8Strlded Restrlcted Funds Funds Funds Total Deslgnated Unr•stri¢ted Restrl¢ted Funds Funds Funds Total rants In Su ort of Parishgs Dokw Cathedral (geneial Supporti Bangor Primacy Belfasl". Sl Brendan'5 Wesl Wnds Newtownards Various Parishes- COI Orphans COVID Grant VaTi¢)us Parishes- COI Orphans Sunday School Grant Diocesan Rejuvenalion Fund- Sl Brendan's Di0$80 Rejuvenation Fund - GilnahiFk Diocesan Rejuvenation Fund - Castlewellart Diocesan Rejuvenalion Fund- Kilcoo Diocesan Rejuvenation Fund . St JDhn's Lurgan 20,000 20.000 3,500 5.000 20.000 20,000 20,000 3.500 3.500 10.000 10,000 1.000 3,500 5,000 2.500 17.500 1.000 3.600 3,6(X) 16.000 16.000 5,000 5.OlX) 5,000 5.000 2,500 2.500 2.500 2,500 5.000 5,000 17,500 20.000 47,000 84.500 1,000 20.000 17.100 38,1¢XI Grants for Dloce actlvllles &rel The HUB Belfasl Church Plant Fund Ministry Apprenlice S¢heme Rejuvenation Fund Lambeth Resdotion Grant 3,000 e.750 3.OOQI 3.000 6.750 5.000 13,500 9.248 37.496 13,500 9.248 37.498 3.000 3.000 RCB COVID Support to Parlshgs COVID Granls 111,740 111,740 111.740 111,740 17,500 57.498 158.740 233.738 1,000 23,000 17,100 41 100 20
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS {CONT'D) Minlstry Support 2022 2021 Deslgnatod Funds Unr•stFlcled Funds Rostri¢t¢d Funds Total Dsslgnated Fund$ Unre¥trl¢ted Funds R8strictod Funds Toial Cler Trai Curates, Children's Allowances Pastoral Support Clergy Conferen Sabbaticals 1,057 1,057 1.373 1,373 5,202 5,714 1.500 12,416 590 5.792 9.541 4.416 5,202 422 8,202 422 3.827 2.916 8.706 21.122 525 525 5.624 1,582 7,206 Tralnln Develo & Profe me onal Book Vouchers Lay Mlnislry Education Foundation Year grants Diocesan Evangelo%ts Educalion cwrses Continu31 Ministerial Educalion Ordained Local Ministry Bible course5 & Iraining Other 2.475 2,475 5.346 1.743 2.250 2,250 16,983 5.346 16,983 t.743 198 2.176 1,196 2.374 1.196 2.7fj0 f,B83 2,760 1.883 2.353 2,353 8,635 8,635 1.295 1,295 13.382 15,020 1.075 5,791 5.791 1.638 1.075 2,945 246 2.945 758 512 21.361 17,796 39.159 30.282 5,441 35.723 35,9C6 7.023 42.929 Totsl 33,7Y7 26.504 60,281 Project Delivery 2022 2021 Bishops Ministry Fund Expenditure Church Plant Expenditure Communications Council for Mission Cover Duty Di¢xesan In-service Fund Prison Chaplaincy Scheme Income payments St Brendans & St Clements Youth & Children 24,248 373.522 34,920 39,679 278,947 40,054 8,456 14,075 235 19,205 16,678 59.916 188,811 22,965 12,035 17,211 36.674 162,861 684,436 666.056 21
CHURCH OF IRELAND DIOCESE OF DOVIN AND DROMORE FINANCIAL STATEMENTS FOR THE YR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS (CONT'DI 10 Support Cost Breakdown Total Costs 2022 Total Costs 2021 Down and Dromore and Connor Joint Committee Expenses Net movement in Jolnt Committee during the year Diocesan funclionaries, expenses Staff salaries Staff secondment, paid lo parish Diocesan Surveyor House costs Diocesan Synod Costs Audit and accountancy fees Legal Expenses Professional SeICe$ Removal grant Bank fees Insurance Depreciation IT & Photocopying Contact management system Sundry 60,791 61,401 (34.761) 10,421 15,946 13,907 160,388 156.798 6.220 6,039 19,009 11,847 2.250 1.823 6.106 4.144 8,580 8,880 33,269 11.990 3.366 5.202 13.863 12.694 616 437 2.030 1.487 5.279 5.587 5.347 6.909 8,113 15 5,613 3.756 322,025 323.335 11 Other expenditure 2022 2021 Provision for bad debts Stipends Legal defence insurance Di0san Cathedrals (59,6831 (22,2831 209,589 223,741 7,381 6,534 12 Net movement in funds 2022 2021 Net movement in funds is stated after charging-. Auditors remuneration Depreciation 4,800 4,800 22
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS (CONT'D) 13 Staff costs Joint Committee staff: 2022 2021 Wages and salaries Employer's NIC Pension Costs 86,556 117,366 8,497 10,099 Down and Dromore staff: 2022 2021 Wages and salaries Employerfs NIC Pension Costs 161.371 144.181 13,562 11,630 Churth Plant and Parish Worker staff: 2022 2021 Wages and salaries Employer's NIC Pension Costs 204.262 174,230 15,626 13,002 Prison Chaplain: 2022 2021 Wages and salaries Employer's NIC Pension Costs 10,532 306 Total staff costs: 2022 2021 Wages and salaries Employer's NIC Pension Costs 462.721 435,777 37.991 34.731 No employee received emoluments of more than £60,000 (2021.. Non&) Ke Mana ement Personnel The total amount of employee benefits received by key management personnel in the period was £91.353 (2021: £88.277>. The Council considers ils key management personnel comprises of the Di0san Secretary and Diocesan Development Officer. Trustee remuneratio and ex enses The Diocese of Down and Dromore paid allowances. gifts and expenses to Diocesan Council Members amounting to £8.545 (2021-. £6,269). No charity Truslee received payment for professional or other seryices supplied to the charity (2021.. £nil). The average number of persons paid by the organisation during the year was: 2022 2021 Joint Committee staff Down and Dromore staff Church Planl staff Prison Chaplain Parish worker Total 23
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS ICONT'D) Diocesan administration has been reslruclured with new arrangements implemented in early 2017. This means that the Diocese no longer shares joint administration with the Diocese of Connor, but instead has IÉS own staff operating in new roles designed both to modernise and improve the management of Diocesan business and lo reduce costs. It should be noted that a number of Down and Dromore staff have been contracted to the Diocese of Down and Dromore & Connor Joint Committee. In October 2022 those Down & Dromore staff employed by the Joint Committee had new contracts issued and became employees ofthe Diocese of Down & Dromore. As a result the Joint Committee payroll was closed from this date and the amounts detailed above reflect this change in payrolls in 2022. The salary costs of these four staff paid through the Down and Dromore payroll to September 2022 amount to £101,346 {2021'. £136,767) The Diocese also facilitated the payment of eighl Church Plant workers and one Prison Chaplain. the total salary costs of these workers lotalled £246.994 (2021.. 202.285) The Diocese is reimbursed by the relevant Chur¢h Planuparish and Northern Ireland Prison Service for the salary costs incurred. 14 Tangible fixed assets Equipment, Fixtures & Fittings Cost or valuation: At 1 January 2022 Additions At 31 December 2022 36,005 36.005 Depreciation., At 1 January 2022 Charge for year At 31 December 2022 14,887 5,279 20,167 Net book value: At 31 December 2022 15,838 At 31 December 2021 21.118 No assels were held under finance leases or hire purchase contracts 15 Investments Listed Investments Property Investmenls Total Investments Market Value at 1 January 2022 Additions at Cost Dlsposals Revaluation Reallsedlunrealised gainsl(losses) 2.454.923 222,850 2.677.773 (229,440) (229,440) Market Value at 31 December 2022 2.225,483 222,850 2.448,333 Cost of Investments 1.153.547 200,000 1,353,541 24
c) r4 O O (V VJ ) o o ry) * r) ¢7) ) i ¢rs ¢3> O ¢0 ¢0 o rkn ¢0 i o * o ¢0 UJ O O Q CW ¢X* O) r4 F- fxj V) to u LL IL LL LL VJ LL L4 IJ v E¥ 11 511.1 il iJ
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORe HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS (CONT'D) 16 Joint Committee with Connor Dlocese JOINT INCOME & EXPENDITURE ACCOUNT 2022 2021 INCOMING RESOURCES Rents and Conlribulions 187,339 186,195 Inveslmenl Incom¢lBank Inlèiesl oth Income 5,922 187.339 192,117 RESOURCES EXPENDED Wages & Salaries Office & BldIng Maintenance HotJ5e Running Cos15 Dopieciation 34.567 33.416 19.212 33.897 145.645 63.481 5.646 7.492 122.906 220.450 Net movemeol in funds 64,433 128,3331 NET INCOMING RESOURCES Share of net incominy resowces due lo Dioceses of Ènd Dromore Share of net Ènconwng resources due lo Diocese of Connor 32.217 114.1671 114,167) 32.217 Balance al 1 January 2022 205.185 233.518 Balance at 31 December 2022 269.618 205.185 BALANCE SHEET AT 31 L>ECEM8ER 2022 FIXED ASSETS Tangible K8sets'. Share owned by Dio¢ese ¢y Connor 758.843 761.388 sha 0ed by Diocese ol Dvwn and Dromoftr 758,843 761,386 NET CURRENT LIABILITES Share owned by Diocese of Conrsor Share owned by Oio¢ese of Down and Dromore 88,954 54,193 54,193 88.954 1.695,594 1.631,162 RESERVES Dlocese of Connor B47,797 847,797 815,581 Diocese ol Do¥%r aTrY DTomore 815.581 1,695,594 1.631.182 These figures do not fomi part of the DieSe of Down and Dromore accounts and are only shown here as the Diocese of Down and Dromore have a 500h share in the Diocese of D¢)wn and Dromore & Connor Joint Committee. 26
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS (CONT'D) 17 Debtors 2022 2021 Debtors Provision for doubtful debts Joint Committee Representative Church Body Prepayments 95,581 (56,954) 88,954 174.160 10.890 218.271 (160.903) 54,193 192.000 20,820 312.631 324.381 The balance of £174,160 with the Representative Church Body is in relation to the purchase of property for the Moneyreagh Church Plant. 18 Cash & Bank 2022 2021 Funds held at-. Representative Church Body Nationwide Building Society Banks 416.844 17,476 922,804 399,786 17.361 685.289 1.357.124 1.102,436 19 Creditor: amounts falling due within one year 2022 2021 Accruals Loan from RCB Bank loans and overdrafts held at: Danske Bank RCB 22.411 128,763 35.045 16,392 546 15,481 12.098 168.112 62,624 20 Creditor: amounts falllng due more than one year 2022 2021 Bank loans- Danske Bank Representative Church Body 157,768 100,000 170,714 228,763 257,768 399,477 The D8nske Bank loan is repayable al a rale of interest of 6.00% over Dan$ke Bank Relerence Rale. wilh 8 year3 iepaymenis remalnir6. The Repre5enlalivg Chltrch Body Grant was made lowaid5 the inilial acqui$illon and developmenl Costs of the new Church of Iieland House. This granl 1$ du* lo be repald pro rala io Ini(ial acqulsition and development ¢tS In relation to any profil proceeds if the property is ever dlsposed of by sale or lease and nol reploctrd on a similar scale for similar purposes, 27
O * * ¢n ts ¢> o o • 4> O IN ) * n 4D
C14URCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS ICONT'D) Desi nated Funds The details of the main elements that make up the various Deslgnated Funds are as follows.. General Church Plant Fund- Support ofthe overall Church Plant work. Unrestricted Funds The details of the main elements that make up the various Unrestrlcted Funds are as follows= Expenses Fund - The General Diocesan Office. Clergy Cover Duty, Prison Chaplaincy. Registry Fees, & St Brendan's and St Clement's Ministry cover. Development Fund - Central Church Assessments, including Priorities Fund, grants in support of church development & Bishop's Office. Ministry Fund- Pastoral Care, counselling & general support for those in Ministry General Fund - Parish Assessments Development Office, Youth & Children's Work- All activities relating to general Dtocesan Development wotli. Youth & Chiklren's support. includin9 Camps. Confirmation WIEnd. Summer Madness, Youth Leadership & Mission Trips. Companion Link- Support of link Diocese Diocesan in Servlce Fund - Support of Clergy & those in Ministry - Continual Ministerial Education, Diocesan Readers, Bishop's Bible Course, Ordination retreats & Clergy Conference. Dlocesan Communlcation - The work of the Diocesan Communications Officer Council for Mission - The work of the Council for Mission Diocesan Ordination Fund - Support of Ordinands Col House Fund - The development of Church of Ireland House. Belfast Restricted Funds The details of the main elements that make up the varÈous Restricted Funds are a5 follows= Col House Fund - The development of Church of Ireland House, Belfast Church Extension Fund - Support for Church extension work. Young Adults Fund - To sUPPOrt young adults work within the Diocese Belfast Additional Clergy - Support for Addltional Clergy in the Greater Belfast Area Endowment Fund - General support of the Diocese in line with original trust deeds Superannuation Fund - For the support of Clergy Pensions within the Diocese in linè with original Irust deeds Parish Support Fund- Support of Poor Parishes as the Council may decide Bishop's Ministry Fund - Support of the Bible Week, Confirmations, Qrdinations, St Patrick's Day celebrations and Clergy Conference. Stipend Fund - Clergy Pensions, Stipends & child all¢)wanGes to curates Social Services Fund- Support of Social programrnes within the Diocese Commissioned Workers Fund- For the support of women in 'Commissioned posts, within the Diocese. Diocesan Cathedrals Fund - Support of Down Cathedral and Dromore Cathedral Dundrum Church Plant Fund- Support for the Church Plant work in Dundrum Lower Branlel Church Plant Fund - Support for the Lower Braniel Church Plant Moneyreagh Church Plant Fund- Support for the Moneyreagh Church Plant Killough Church Plant Fund - Support ofthe Church Plant work in Killough Titanic Church Plant Fund- Support for the work in Titanic Church Tullycarnet Church Plant Fund - Support of the Church Plant work in Tullycarnet General Church Plant Fund - Restricted Church Planl support Rejuvenation Fund - For the support of churches committed to revitalisation of their ministries & outreach Outreach to Asylum Seekers & Refugees - Support of the outreach to Asylum Seekers & Refugees Forge - Support for the Diocesan Ministry Apprenticeship Scheme 30
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS {CONT'D} 21 Funds {cont'd} Designated Funds Unrestricted Funds Restricted Funds Total Nel incoming l (outgoing) resour$ Transfers Increase in market value of investments 34,726 {28.842) 154,113 (22,248) 11.925) 119,940 85.041 51,090 1217.5161 1229.441) (81.3851 44,439 273,880 5,884 Al 1 January 2022 76.028 561.718 3.025.861 3.663,607 At 31 December 2022 81.912 681.658 2.944,476 3.708,046 22 Analysis of net assets between funds Fixed Assels Investment Assets Current Assets Long Term Liabilities Total Designated funds Unreslricled funds Restricted funds 81,912 548.145 871.586 1,501.643 81.g12 681.658 2,944.476 3.708.046 15,838 157.140 2.291.193 2.348,333 (39,465) (218.303) (257.768) 15,838 23 Penslon costs Defined contribution scheme The Diocesan Council operates a defined contribution pension scheme_ The assets of Ihe scheme are held separately from those of the organisation in an independently administered fund. The pension cost and charge represents contributions payable by the Council to Ihe fund and amounted to £26,409 (2021.. £26,481). The Down and Dromore & Connor Joint Committee operates a defined contribution scheme and a separate targeted group personal pension scheme. The herne does not guarantee the level of benefits achieved by members. The assets of the scheme are held separately from those of the Joint Committee in an independently administered fund. The pension costs charge represents contribution payable by the Jolnt Committee to the hjnd and the cosls of death in service benefils for employees and mounted £8,688 (2021.- £9,303) 31
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS (CONT'DI Reconciliation of Operating Surplus to Net Cashflow from operating Activlties 2022 2021 Net incoming resources for the year Depreciation (Decrea5ellincrease in creditors Decrea5el(increase) in debtors Investment income receivable Gains on investments 44,439 5,279 (12,635) 11.752 (75.553) 229.441 435,933 5,587 18.416 {178,250) (67,989) (245,397) Net cash inflowl{outflow) from operating activities (202.723) {31.700) 25 Related Party Transactions During the year ended 31 December 2022, The Diocese of Down and Dromore paid allowance5, gifts and expenses to Diocesan Council Members amounting to £8.545 (2021.. £6,269} The parishes of St Donard's and Seapatrick each received £3,110 to reflect the work Carried out on Diocesan business by the ArGhdeacon of Down and the Archdeacon of Dromore respectively. The Diocese of Down and Dromore carries out transactions wÈth a number of connected organisations within the Church of Ireland, these being the Diocese of Down and Dromore & Connor Joint Committee, the Representative Church Body. the Church of Ireland Trustees. the Church of Ifeland Okphans & ChiEdren's Society for the Counties ofAntrim & Down, the Church of Ireland Priorities Fund and New Wine. The Diocese of Down and Dromore is connected with the above bodies by virtue of a number of Diocesan Council members being representative5 on the decision making bodies of these organisations. During the year transactions with these bodies amounted to income of £267.227 (2021: £102,035) and expenditure of £1.296.882 (2021= £1,282.993). At the year end, amounts owing from connected or9anisalion5 amounted to £20.067. Amounts owed to connected organisations amount to £129,309. The Diocese of Down and Dromore has a 500/0 Stake in the Joint Committee. 26 Contlngent Liabilities A contingent liability exists where the Diocese has to pay the Stipend payments to the RCB for Parishes when they are unable to cover the cost5 of their Incumbent's Stipend. This is monitored by the Council on a regular basis. 32