CHURGH OP IRELAND DIOCESE OF C¥QlllN AND DROMORÈ FINANCSAL STATEMENTS FOR THE yft ÈNDEO J1 DECEMBER 2023 STATEDAENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT Noto Unr¢1r1¢19d FLand5 AÈ$trl¢i4d Funds Unr•$trlcted Fundi R#sirl¢tsd Funds Total 2022 2023 Incom& an¢ ènctowrn•nts from: Charitabl8 Activiti&$ 1,189,752 1,2?4,328 7"1,2Sf? 2.414,080 79,797 1,088,929 1,313,511 2,404.500 75,553 Inv9$1mfjnls 2,,531 2,790 14.047 72,Pfj3 Othor 69,048 1,077,946 1,146,0>3 212,892 226,939 Total 1.261.331 2,379.539 3,640,S70 1,1 OS, T66 1,eoi.226 2,706,992 Expèndlturè tstt: ChaTrt$ble AclNIti• 1.209,919 1,293,693 P,tyO2,È>12 915,02,4 1,340.801 2,?7S,825 Inveslments Olhof 11 187.424 19'1,678 118,0971 178,384 157,287 Totsl 1,214,371 1,481,117 2,¢95,488 516,927 1.518,185 7.41J,112 NF.I' (Qulinglllncome 48,960 899,422 945.382 .188,839 8fj,041 273,880 Gainsll1055e5) an investments 78,1J3 82.059 111.925 1217.$161 1229.441? Tr&n8tsrg 114?,fJ091 143,ts09 151.0901 Oth¥ mfJv•in8ntg Tran$lÈr from rèseNè5 (114,0501 1114.050} Net Mo¥¢mgnl In Funds {92.6431 1,006,034 913,391 125,a24 181,3851 44,439 Rè¢oiiolliation of fuiids Total Fund$ brou9h fothard 21 763 $70 2 944 47fj 3,708,046 637 746 8 025 881 3 663 607 Tuial P'uttd$ carried fOrard 670.927 3,950,51 Q 4,621,41Y 763,570 2,944,47fj 3.708,046 The statèment of linancial aGtIVitieS in¢ludes all gains and losses recogrtised In the year, All in¢Omè and expenditure derlvè from continuing actlvitles The notes on pages 15 to 33 form part of these 8ccounts 12
CHURCH OF IRELANO DIOCESE OF DOWN AND PROMQRÉ FINANCIAL STATEMENTS FOR TNE YEAR ENOEO 31 DECEMBER 2023 BALANCE SHEET Notes 2023 2022 Flxed a88et8 Tangible assets Investmènts 14 15 11.369 15,838 2 448 333 2,464.171 2,688,473 Current a$setS Oebtors Cash at bai)k and in hand 17 18 934,438 1026 64-1 1,961,085 312,631 1357 124 1,669,755 Current Llatyilitles Creditors.. amount8 falling due wilhin one year 19 -118B 11 Net CUTnt assèts Total Assets Less Curyont Liabilities Creditors,, amounts falllng due after more than one year 20 12$7,788) Total N¢t A85ot$ Fund¥ UnrestriGted funds Restriotéd 21 21 670,927 510 763,570 2 944 476 Total Funds These5 financial statements were approved and autttorised for issue by the Diocesan Countil onL3-S-..,2t., gn¢ signe on its behalf b {Clericg1 Honorary Socretaryj (Lay Honorary SÈcrÈta The notes on pages 15 to 33 form gn integral part of theèe financial ststements. 13
CHURCH OF IRELAND DIOCESÉ OP OOWN AND DROMORE FINAN¢IAL STATEMENTS FOR THE YEAR ENDEQ $1 DECEMBCR 2023 STATEMENT OF CASH FLOWS FOR T14E YEAR ENDED 31 December 2023 2023 2022 Notes Cash flows from opor?¢ing activities Cash gpnerated from operations 24 10,464 202,723 InvestlDg a¢tivitl88 Purchase of investments Disposal of lan9ible fixèd asseis Inv@stm8nl income received 1146.713) 680 75,553 Nèt cash (usod In)IgÈnerat&d from Investlng activitle$ (55,7721 278,276 Financirtg actlviti•$ Increasel{decroase} in bank loans 274;705)__ (23,S87 Net Gash used In Ilnancing actiVitl¢s {214,7051.., -123,5871 Net inGrea$el(dÈ¢rease) in cash and Gash 8qulvalonts (330,4771 254,689 Cash and cash equivalertts of beginning of year 1,357.124 1,102,435 Cash and cash oqulvalents at ersd ol year 1,026,647 1,357,124 Relating to: Bank balances and short term deposits 1,026,647 1.357,124 14
CHURC14 OF IRELAND DIO¢E$e OF DOWN ANO OROMORE FINANCIAL STATEMENTS FOR YHÈ YEAR ENDED 31 DECEMBER 2023 NOTES TO THE ACCOUNTS ACCOUNTING PQLICIES rhe principal arcounting policies, judgments and key sources of estimation uncÈrtainty are set out bÈlow. faj gasl8 ol a¢¢ounting These financial statements havÉ been prepared undef thè historical ¢051 convention and In aGcordÈn¢e with applicable accounting signdards, the %latement Df Recommended Practice (SORP) Accounting and Reporting by Charities. effectivé Jsnuary 2015 and FRS 102 "The Finan¢i?l RÈporting Standard ApplitablÈ in the UK and Republic ol Ifel?nd'. The Diocesan Council Members consider that thèsè accounting policies are suitable, have been ctsrtslstttntly applied and are supported by réasonable and prudent judgment and estimatés. The Dioc&se ol Down and Dromore meets the dèfinition of £ public benefit @ntity uiider FRS 102. Ttte financlal statements are prep8red in accordance with the histori¢31 cost convention. (b) Golng concern The Diocesan Councll has reviewed Eh8 budgèt for the year ahead, and is satisfied that Ih8re are adequate fund5 In platt¢ lo onstsre t'hal the Diocese can continue its aelivlties. There are no material unce.rtainties about the grganisation's ability to continu8, snd on that basis it 15 a going L'oiicerri. (c) Income Recognltion Income is recognised in the pèried ly whlch the charity is enlilled to reGeipt and thÈ amount can be measurpd with reasonable certainty. Income is deferred only when Ihe charity has to fulfil cDnditlons before becoming fully entilled to it or wh8re the donor has specified that Ihe inromé is ID be expended in a future period. Grants, including capit81 grants, frtrm the 9overnnipnt and other agencies have beèn included as income from aGtivitie$ in furtherance of the charity's objects where thgse amount to a Gorttract for services, but included as donations where the rnoney is given in response to an appeal or with greatèr freedom gf use, for example, governniettt block grants. Donated facilitieg are included at the value t¢ th@ charity where this can be quanlified afid a third party is knearing the cost. No amounts are includèd in the finanGial stalemeiits for sprvi¢es donated by volunteers, (d) Expenditure Exp8nditure is included in thè Statement of Financial Activities on an 8ccrual8 basis, exclusive of any VAT which can be recovered. Certain expendituré is directly atlributsble to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis ol an estimate of the PfOPOrtion of time spenl by staft on those aGlivities. (e) Fund A¢¢ountlng DÈsignaied funds are untsStri¢ted funds set agidé at the discretion of thè trustees for $pe¢ifi¢ pui'poses. Unrestrlcted fiJnd5 are lunds that are availablè for use at the trustèes, discretion in furtherance ol the objpGtives of the Diocese in ac¢ordancÉ with th8 re9ulaliorls that govern ttte DioGesan Council. Restrlcted funds are thcse donated for use in 8 particular area or for specif1¢ purposés, the use ol which Is restrict@d tyy the funder to that area or purposÈ.
GHLIRtH OF IRELAND QIOCESE OF tJOWN ANO ORUMORE FINANCIAL STATEMENT$ FOR THE YEAR ENDEfi 31 DecEMBER 2u23 NOTES TO THE ACCOUNTS {CONT'I)) If) Investmènts All income from investments Is accoiiritéd for on an accruals ba515, Deposit interest re¢eivabEe, expenses and interest payable are 8ccounled for on an atcruals basis. ListÈd investments comprise thoSÈ quoted on g Sto¢k Exchan9e, fh&8e investments have been valued at markèt valuts which is based on thè middle mafket prices ruling at the close of business on 31 Deoember 2022, Any rèalised profits or losses, arlsing on fixed agset investment s?les aro t8ken direct to the statemént OY linanoial atttivities, Profits or losses are Calculated on the av@r8ge cost basis. (gl Depr8clatlon of tsngible flxed assets Tangible fixed assets aré slated at C05t1gss depreciation. Depreciation is provided at rate5 ¢8ltulated to write off the cost less éstlmaÉed residual vÈlue of each asset ov?r its expected useful life, as follows.. 250A reducing balan¢È 2 Its Straighl linè Equipment, Fixtyrés & Fittings Fre@hold Bulldings Buildings are not depreciated. It Is the policy of th@ Diocese to maintain its properties in a slate of good repair. ThÈ Diocesaii Council's asse5smÈnt of Ihe residual value {based on values pièvailing at acquisition) and ygèful economic life of thé long leasehold property is suttli that the charge fur deprÈciation would not be si91iificant, conseguent5y this propety is not depreciated. Tli¢ depreciation rale for fixturès & filting and computer equipment was chan9ed lo reducing balancè from Straight lin? th8 Council leel this is a bett8r rèflectlon of Ibe value of the a$$et8 to Ihe Diocese, (h) Impairment of fixed asset8 At each balan¢e sheèt date, the carrying amounts of tangible and intangible sssets are reviewed lo determinp whether 'lhere is an indication that those assets have sufferèd an impairment loss, Where th¢ carryin9 value exceeds the estimated recoverablè amount {b@ing the greater trf fair valup less costs to séll anrj value-iD-use), an impairment loss is recognisèd by writing down the assèts tt88h-gener?ling units to their iecovefatyie amount. An impairment loss is recognised immediately in the profit Ènd loss, Any revarsal of a prÈViOUS impairment loss is similarly recognised inimedialely in thè profit and loss. (i) Debtors Trade and other dÈbtors are récognised at IhÈ settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid Nel of any trade discounts due. ti) Cash at bank and in hond Cash and cash equiv4lents Include Gash in hand, deposits held at call with banks and other short-term liquid Investménts with origingl maturities of three Inonttrs or léss. (k) Crgdltors and provlsions Creditors and provisions are recognised wheré the charity ha$ a present obligation resulling from a past event that will probably result in the transfer of funds to a third party and the amount due 10 5ettltt the obli9ation ¢an be measured or estimated reliably Creditors and provisions are normally recognised at their settlement ?mount after allowing for any trade distounts due. (l) Flnancial in8trumentS The charlty only has firtanclal assets and financial liabllitiès of a kind that qualify a$ basic finanoigl instrumeiils. Baslc financial instruments are initially r8CO9nised al transaction valu8 and subs8quently mpasured at their setllement Value. 16
CHURCH OF IRELAf40 DIOCESE OF DOWN AND I)RQMQRE FINANCIAL STATeMENTS FOR THE YEAR ENDED 31 ty2tEMIYER 2023 NOTES TQ THE ACCOUNTS ICONT'D) {mTr Pènslon Costs Thé Diocèse cantribtjtes lo the full costs of the pénsion schemes for Stsff èmployed by the Dicc&san Council. Contributions payable are Gharg@d to the Revènue Account in the perlod lo which they relatè, Thesè ctsntributiorts are invested separately from the assets ot the Diocesan Council. Income from charltable activities 2023 2022 UnRstri¢t¢ Funds Da$lgnated Funds Res1ii¢1gd Fn$ Totel Dèsign4tod Fund$ Ra$trlcted Fuiids Total Punds Paitschlgl ?$86ssmen15 i5510n & Inlnl81ry r•coipli 861,802 851,592 834,432 834,432 43,Jf3fj 207,019 1,011,112 1,261,687 4Y,17S 158.947 I,IJ09,864 1,215,786 1,058,$11 1,011.11?, 2.113,269 993,379 I,¢)09,664 2,050.218 Qrat)Is 47,170 10,435 21J,216 300,821 10,000 38,JY5 305,907 $64,282 TDtii 1,099,046 1,224,328 2,414,080 57,7Y5 1,031,7)r4 1,J15,S71 2.404.500 In¢ome from Investmèrtts 2023 2022 Dèsignatèd Ufi¢•$tr5¢ied Funds Fijnd Reslri¢t¢d Funds TDtal Des5gnatgd Unrgstrlctgd Fund5 Rostrlctod Fund8 T•Jtal Dividends Inlero$1 receivablé 2.531 87.548 70,079 2.790 70,7J8 73,52B 9,118 9,718 2,02S 2,531 77,266 79,797 2,790 72,763 7S,S53 Other Incomè 2023 2022 Dèsignated Funds Un$tICted Fund$ Rostrl¢ie4 Fun#8 TDtal Dè$lgnatod Funds Unregtrl¢t¢d Fund$ BgitrlGtèd Fund$ Sundry IleTIIS Stipends Jolni Committee 69,048 7?1,9B7 15'1.281 191,015 157,281 7>8,69Y 14.U47 13,92è 198,9e4 27,97 198,96 798,697 6¥,048 1,071,945 1,Id6,993 14,047 212,892 226,93 17
000 00 OOD f* Tr- 000 ,Ilil}Iil ij ij ) v) v) IgÈy8È11188g ooo u(Jv tt U L) U U U U U Q) L) Q)
0000 oooy o ¢) In ID n ¢0 D o o ¢n v) f
ooc cott Illllli 31ilii, o o c J It% gd 45 Q >>>TA?aaoonootsv)>
CHURCH OF IRELAND PIQCESE OF OOWN AND OROMORE FINANCIAL STATEMENTS FOR fHE YEAR ENDED 31 DECFMBER 2023 OTES TO THÉ ACCOUNTS {CQNT'DI Breakdown of expgnditure on cborEtable activitlès N9tes 2023 2022 Grant8 & Ministry Support Priorlties, ftsnd Central Church Assessments Clergy Pension Project Delivery Siipport Costs ?.64,855 70,78S 180,612 802,195 708,310 477,055 294,019 62,920 170,304 742,121 684,436 322,025 2,503,812 2,275,825 Grants 2nd 8iipp¢rt for miiiistry 202¥ 2022 Dèslynat8d Fundg Unrvstrlctod Rèslrlctod Fiinf15 Total D19natOd Unrestri¢ted Rèstricted Fund$ Fuiids Fund$ T¢l•l Down C21hedral1general aupporti Bangor Pflm4¢y Belfast. Sl Brend4n's WgI1 Winds Newtownards Ptri5h Svppofl Fvnd,, 20,000 20,000 J,$00 5,000 20.000 20,000 20,000 3,50Q 10,000 20,000 2,500 J,500 10.OOQ 3.500 5,000 2,SQO 20,000 17. Jroo 2,SQ() Pirlsh Support Fund.. M8gherJlly Variou5 Patlsliès - COI QiphHn3 Sunday School Grant NewcSllÈ - Fdmilios Work Suppoif Dtocosan Rejuvenallon Fund . Si 8teM¢lan'$ Dloeesan R¥juv8nalFon Fumd . Giln&hirK Ploces8n AejvvèNallun Fund . Co511¢wg11on l)ltsesan Rejuven8li4n Fund - KilcoD Diocesan Rluv¢nalion Fund- Si JohrTr's LuTg&n 2,500 2,800 IE,DOO 16,OOD ?8,000 38,000 5,000 5.000 5,000 5,000 5,000 2,tiIK) 2,tsQQ 2.500 2,500 2,sQO 2,500 2.500 2.500 11.000 11,000 Y I,SOO 117.500 5,000 20,000 20,000 20,000 47.OQO san& Ivl ThÈ HIJ13 8e5ts81 Church Plant Fijnd Ministry Apprenltce SthÈme Rw'wenation PiiThd La¢rtbÈil) Resolution Grnl 3,000 6,002 3,000 6,002 5,000 18,004 10,780 42.766 3,000 6,750 5,QQCI 12.50 9,248 3?,498 3,01]0 6,7S0 5.000 13.5QO 9,2da 37,498 18,004 10,'X60 42,766 PCB COVIO Support to Pafi>hpg QVID Gr8r¥ts 111140 111.740 111,'140 111.740 20.000 62,766 77,800 180,266 17,500 87,498 158.740 23?,738
CHURCH OP IRELAND QIOCESE QF OOWN ANts L)ROMORE FINANCIAL STATEMENTS FOR THE YÈAR ENDED 31 DECEMBRR 2023 NorES YO THE ACCOUNTS (CONT'D Mlnistry Support 2023 2022 P¢$lgnat8d Fund$ Unrest¢ictÈd Funds Restricted Funds T¥l41 Designatèd FUd$ Unr•strlcl Punds Rl¢l¢td FuDd¥ TotAI Tvalnln Curalo$' Chlldren's AIiowilh¢& P$ioral Support ¢lorgy Conl¢ience Sabbailcals 2,048 2,048 1,373 1,373 5,202 37.337 3,OOQ 650 5.852 51,337 3,ODO 0,202 5,714 1,500 12,416 590 5, 192 3,82Y 9,541 2,918 4.416 8,708 21,122 '14,000 féssion lo k V¢u¢lir$ L4y Mini¥lry Education Foundation Year gfabnll ity¢¥$)n Ev4n91ists Education course8 Continu81 MSnlslerial EdsJ¢allors Ofdained Local Miniglry Biblè ¢oiitSo8 & Iralnin9 Qlhor 2,625 5,783 2,752 766 2,475 2,475 5,346 1,74) 2,374 1.19B 8,fj35 5,7GJ 5,34e 2,752 1,743 196 780 2,1'78 1,196 8,63S 2,369 8,880 8,880 923 923 1,295 1,638 1,075 1,29$ 13.382 15,Q2Q 1,075 987 14.378 15,36Jr 2,700 2,709 22.39Y 17,798 39,159 36,453 104,389 93,777 26,fJO4 60,281 Totsl 87.938 Project D8llvery 2023 2022 81shtsps Ministry Fund Expenditure hurch Plant Experiditure CommuNi¢atlons CoLFTrGiI for Mission Cover Duty Diocesan In-Servi¢e Fund Prison Chaplaincy Schertté Income paymell15 St Brendans & St Llements Youth & Children 37,743 326,330 32,822 200 65,748 505 17,539 17,723 30,851 177,849 373,522 34,920 22,965 12,035 17,211 36,674 162,861 708,310 684,436 22
CHURCH OF IRELAND OIOCESE QF DQWN AND DRopKike FINAN¢IAL STATEMENTS Fok YHE YEAA ENDED 31 DECEMBER 202? NOTES TO THE ACCOUNTS (CONT'D) qo Support Cost Breakdown Tolal Cost¥ 2023 rotal Costs 2022 Down and Dromore and Connor Jolnl Committee eD8t5 Net movement in Joint Commlttet durin9 the yèar Oi0GeBan functionaries, expenses staff salariés Staff ge¢¢ndmenl, paid to parish Diocesan Surveyor House costs Dlu¢¢san SynDd Costs ALidit and accountancy fees Legal Éxpenses Professional seivi¢¢s Removal grant 8ank lees Insuranc@ Depfe¢iation IT & Photocopying Contact m8nagement system Sundry 80,705 60,791 (34,7811 21,318 15,946 207,679 160,388 6,780 6,220 40,988 19,009 2,250 2,250 6,025 6,106 8,640. 8,580 65,683 33,2S9 5,304 3,366 22,289 13,863 833 616 2,563 2,030 3,790 S,?.'19 7,088 5,347 6,499 8,113 8,821 S,613 477.055 322 025 11 Other expÈnditur• 2023 202 Provision for bad debt5 Slipends l.egal defence insurance Di¢cgsan Cgtheérals 16,116 {59.6831 169,040 209,589 8,720 7,381 12 Nét movomont in funds 2023 2022 Nel movement in funds is st8ted after charging.. Auditors remuneration Depreciatlon 4,800 4.800 23
CHURCH OF IRELhNO DIOCESE OF OOWN ANLI DRQMQRÉ FINANCIAL STAYEPIENTS FOR THE YRAR ENDED 34 DECEMBER 2023 NOTÈS TO THE ACCOUNTS (coNr'D) 13 staff co$t$ 2023 2022 Joint Committge Staff: Wages and salaries Employer's NIC Pension Costs 86,556 8,497 Down aftd Dromoie staff: Wages and salaries Employer's NIC Pension Costs 315,281 161,371 26,491 13,562 12 535 3fiL7_14L JA7. £.6.& Church Plant And Parlsh W¢rk#r staff: Wages arid salaries Ernployer's NIC Penslon Costs 186,162 204,262 15,750 15,626 7.-18269 Other: Wages and salaries Etnployer's NIC Pension Costs 46,450 1,073 10,532 30fj 4.T fj.23_au Total staff costs: Wages and salaries Employpr's NIC Pension Costs 547,893 462,721 43,314 37,991 No employe6 received emolumènts of more than £80,00012022.' None) ement Personnel The total amount of employee benefits rèceived by key rnanagernent personnel in thp period wa5 £102,923 (2022,, £91,353). Tlie CounGil considers ils kèy management personnel comprises of the C)io¢esan Secrelary and Diocesan Development Officer. Truslee r uneration allertse$ ex The DioGesÈ of Down and Dromore paid all¢)w3nces, gifts and expenses lo t)iocesan CounGil Members 8niounting to £16,904 <2022.. £8,.%45). No ¢harity Trustee received payrnent for profes5ignal 01 Dther servicés supplied to the ch8rily {2tJ22.. £nil). 'rhe average number of person5 paid by the organisètlon during the yèar was.. 2023 2022 Joint Cofnmitteo stsff Down and Dromore staff Church Plant st8ff Prison Chaplain Parish worker Total -1.9 The Diocese also facilitated the payment of nine Church Plant workers and Prison Chaplains, the totsl salary costs of these workers tolalled £2.29,31112022. 248,9941 Th& Dlocese is relmbursed by the relev8nt Church Planuparish and Northern Ireland Prison Service for the salary costs incurr8d. 24
CHURCH OF IRELAND I)IO¢ESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2023 NOTES TO THEACCOUNTS {CQNT'O} 14 Tangible flxed as$ets Equlpmènt, Fixlures & Fittlngs Co$t or valuation; At l January 2Q23 Additions £)isposals Al 31 December 2023 36,005 12,149 33.856 Depreclatlon: At 1 January 2023 Charg@ for year EllminatÈd cn diSPOSal At 310&cÈmbèr 2023 20,167 3,790 1,470 22,487 Net book valuè: At 31 December 2023 11,369 At 31 December 2022 15.838 No asset8 wefg held under finance leas88 or hire pufch8?e contratts 15 Investments Listed liivestmpnt8 Propatty Investments Yotal Investments Matket Value at 1 January 2023 Addltionts at Cost Dlspo#als RÈ¥aluatlon R•alls¢dlunreali$?d gaitt$l{lèb$Èsl 2,225,483 96,712 222,850 50,000 2,448,333 148,712 82,059 82,059 Market Valut at 31 December 2023 2,404,254 272,850 2,677 104 Cost of Investments 1,104 601 272,850 1,377,451 25
O Q) In tn q) O v) . r4 ¥n SD Ll rf) O D J D Ery c* O Iii tsi th) ¢ri TY 7J c c y J $ fn VIV) U L ¥J UJ v) LU UJ > L> LL ila aL)S E tu LU tL ri) ¢0 o
CHURCH QF IRELAND DIOCESE OF OOWN AND DROMORE FINANCIAL sfAYEMENTS FQR THE YEAR 31 DECEM8ER 2Q23 NOTES TO THÉ ACCOUNTS (CONT'DI 16 Jolnt Committoè wlth Connoi Dlocese JOINT INCOME & EXPENDITURE A¢¢QUNT 2021 Z022 INCOMING RESOURCES Ron1$ and Conlfibulian$ 1 S4,74ri 187.339 Oeposil intoiesl receNabl¢ Invèsiméni ltteomèlBa#k Inl¢rtsl 8,479 154,663 6,442 Other Inyjmg 324,335 167.339 RESOURCES EXPENDED Wa>ès & SalEries Qlfic& & 8uilding Mainlon8ne8 House Running CD8t8 D¢pi?¢i41i#rL 40,004 34,S17 32,628 19,212 142,730 5,009 6,S,481 220,371 122,goe N41 movgrngnt In fund$ 103,964 64,433 NET INCOMING RESOURCES Sb8rft ol net incoming resoures clue lo Dl•ce$gs ol Down Oiomvy Slt4r? of nel Incgming rtl$OuTces due to OSo¢eÉ8 ¢1 Ctjnnor 51.982 32,217 32.217 51,982 Balance 811 Jnu&ry 2023 alance al 310ecember 2023 289.618 205,18S 373,582 269.618 bALANCE SHEET AT 31 DECEMBER 1023 FIXED ASSF'TS Tgnglblrj As8ets-. Share own?¢1 by D¢0¢98È dl Gonnor Sh4ra owned by Otoeèsé of Down pnd Clromore 12,112 7S8,843 758,843 t2,112 NET CURRENT LIABILITES Share Ownèd by Dlo¢ea ol Connor Sar8 owned by Oioeesè of l)own at7d Ororriore 887,6S1 987,652 88,954 8a,964 1,759,527 1,6è5,594 RESERVES Oioe¢5e ¢1 ¢onDor 899,763 847,797 01058 Ot Down and Dromo 899.784 ¥47,797 1.799,827 1,495,594 These flgures do not form part of the fJio¢esé of Down and Dromore accounts and are 01)ly shown here ?$ the Diocese ot Down and Dromore h8ve a 50 % share in thé Dlocese of Down and DrorrtorÈ & Connor Joint Committee 27
CHURC14 OF IREV4ND DIOCESE DY DOWN ANO DROMORE FINANCIAL STATEMENTS POR THE YEAR E14QED 31 DECEMBER 2023 NOTES TO THE ACCOUNTS (CONT'D) 17 Debtors 2023 2022 Debtors Provision for dcubtful debts Joint Committeo Represeiitative Church 8ody Prepayments 98,825 168,4151 881,852 95,581 (58,954) 88,954 174,160 10,890 16,376 934,438 312,e31 In 2022 thr4 balaiice ot £174.16D wllh the RepresentlIv0 Church Body wa5 in rBlatiOh its Iliè pur¢ha$è of woperty for the M?n¥yf¥8¥li Cliurcli Plant. The property is iegi8l¢red Iii Iht namé ol the Diocese o1)owN and DrOryre. In 2023. Ma9hralSfj Pari&h Church PTnviderJ a loan lo Mor)eyreagh Church Plant lo clear the debl wrth the ReorosEniaiiV¢ Chur¢h Body. In the evèfll Monyrg9gh Churcli Plant dDaS not eonipty wilh Ille fepaymenl l¥trrts of lh¢ lo8n, Ilie Olo¢esp ¢f Llown and Dromore will b@ liable lo Fnae paym1$. 18 ¢ash & Èank 2023 2022 Funds held at. Representative ChurGh Body NatiDnwid# Building 8ociety Banks 302.840 17.770 706,037 416,844 17,476 922,804 1,026,847 1357 124 19 Creditor: amounts falling du¢ within one yèar 2023 2022 Artruals Loan from RCB 8ank loans and overdrafts held at: Danske Bank RC8 28,121 22,411 128,763 16,292 54S 28,121 168,112 20 Credttor: amounts falllng due more than one year 2023 2022 Bank loan5 - Danske Bank Representative Church Body 157,768 100,OQO 257,768 The RÈpr9$4nlali Chufcli Body grant was rnade ittwards lh& initial acqL4isilion and developm9nl costs of Ch5Jrth ot ITÈland Htsus. Th1$ grant w8$ r¢pAid PTQ iata 10 inliiul acqyl811ion &nd developrnfrnl costs during the yèar. 28
o i
t7J (£) 40 IQ PA ff) •j ¥1 OD o o I ) O * C> * 4n ¢p o ? P4 r r4 co o o O DL ¢4 tp, * D f) ' Silial!Iiil'
CHURCH OF IRELAND JIOQESE OF DOWN AND tsROMORE FINANCIAL STATEMENTS FOR THE YEAft ENDED 31 DECEMBER 2023 NOTES TQ THE ACCOUNTS {CONT'D Desi nated Funds The details ofthe main Éloffitrnls that mke lh¥ various Designatsd Funds Wie as lollow6'. Gènayal Church Platst Fund- Support of Ihe overall Churtrh PIMThlwoik. unrestrict Funds The d¢l#il$ of lh¢ mlo elements that Inake up Ilie vario$ UrttÈstrlttkd Funds are as follows-. Expenses Fund- The Gene1 Diocesaii Office, Clergy Cover Duly, Prison ¢hapl?ID¢Y, Reyislffy Feès, & Sl Brendan'¥ and Sl Clernenl's Ministry cover. Dèvèlopthèttt Fuhd - Contral Church Ass8ssm¢nls, irt¢ludirtg Pi'iorilies Fund, grants in Support of churGh devFlopm¢Dt & 8l$hop' OfliGe. Mlnlstry Fund - Pastoral Care, coungellino & general tsuprt for Iliose in Ministry General Fuiid- Parish A¥6¢ssmpnls Oovglopmont ¢ffi¢è, Yoiith & Chlldren's Work- AJI aGliWili¢¥ r¢latin9 Io 9eneral Dtocesan Dovelopmenl work, Youth & Childro11'S support, inclÈJdliig Cainps, Lonfirnialion WILnl, Summer Madne88, Youth Le¥d¢rshlp & Mission Trips. Companion Link -. SLkppoit C¢f link Diotese Diocesan in Service FLtnd - SsllPPOrt of Cl¢ryy & Ihose Iii Ministry - ¢oniinu41 Minisl8ri&1 Educslion, Diocesln Rèaders, Blshop's Bible Cour$¢, Ordination rètroaty & Clefgy Conference. Dlocajan Communieatlon - The work of th¢ DS¢¢8san Communications Offi¢et Council for MlssiQrl- The work Of the Council for Mlsslon Dlocesan Ordination Fund - Support of Ordinands Col House FvDd- The development ofchurch of li¢lkrtd Htsuse, 8ellast ri The delails of the maln element$ that mike up11)e varlous Ro$trlotod Ftsnds are as follow5.. Col House Fund- The developmonl of Church of Ireland house, Belfo¥1 Col House Joint CornmittèÈ - Shares owned by f)io¢es6 of Down & Dromore Church Extenslon Fund- Support lor Church èxtension WOTk Young Adults Fund- To sUPPOrt young adLilts 4vork wlthln Ilie Dioc8se Bellast Additlonal ¢lergy - Support for Additional Clergy in IhF Grè$lttr Belfast Area Endowment Fund - General support of tho Diocese in line wilh orioinai Iru$i dèèd$ Superannuatlon Fund- Ftsr IhÈ support of Clergy Pensions wlthlri Ihe Diocese in line wilb original Irusl deeds Pad$h Support Fund- Support ol P¢or Potishé9 as the CoLincil moy de¢ide $l$hoP'$ Mlhlatry - Support ol the tsible W¢k, ¢ortfiiiaIIoI1S, Ordinations, St Patrick's Day celebralions Clèrgy Conference. Stipend Fund - Clergy Pensions, Stipend6 & child 8llowai)ce5 to CUTales So¢lal Services Fund - Supp¢rt tsf Soelal Pfogramm88 wilhln the Dioc?se ¢pmtt)l$¥ltsned Workèr$ Fund- For the gupp¢trt ofwotnen in'Commission&d posls. wlthin the DiocpBe, Dlooesan ¢ath¢dral$ Fund- Support of Down ¢athodr?1 oftd Dromore Cathedral Duntlrum Church Plant Fund - Support for the Church Planl work Dundrum Lower Branigl Church Plant Fund- Support forthe Lower Braniel Church Planl M¢rtyrèayh Church Plant Fund - SuPPQrt for the Moneyrea9h chU.h P18nl Klllough ¢hur¢h Plant Fund - Support of tle ¢hvr¢h Planl work in Killough Tltsnlc Church Pl?flt Fund- Support for the work in Til&niG ¢hu¢b Tullycarnet Church Plant Fund - Support of the Church Plant lvork in Yully¢#rnèl gè1•1 Church Plant Fund- Rtr$lridel Church Plant support Rejuv¥n4ti0rt Fund For the support of churGh¢g e¢mmltted lo revilalisalion of thelr mlnislries & outreach Outr88ch to Asylum Sf ekors & Rofugees - Support of lh¢ ¢ulr¢¥¢h lo Asylum Seekers & R@fugee$ Forge - Support for the Diocesaii Miiiistry Apprenticeship SGheme Ca$tlewellan & Kilcoo- Supptsrt for the Casllewell8n & Kilcoo Church Plant ATd¥ ¢*rttt#l- Support for the ArdB ¢entral ¢buh Plant 31
CHURCH OF IRkknlND DIOCESE OF DOWN AND DROMORE FINANCIAL STATÈMENTS FOR THE YEAR EP4fiED 31 DECÉM8ER 2023 NOTES TO THÈ ACCOUNTS (CONT'D) 21 Funds (cont'd) Designated Funds UnrÈStFl¢t¢d unds Restricted Funds Total Nèt incoming l {otslgoing} resources Transfers In¢reasa in Inarket valu? of inveslments Transfer froni reserves 66,456 {69,400} {79,496} {74,109} 3,Q06 898,422 143,509 78,153 114,050 1,006,034 945,382 82,D59 1114,0$0 913,391 12,$44) (89-'6'99} 681,658 At 1 Januaty 2023 81,912 2 944 478 3 708 046 At 31 Decemb8r 2023 78,988 591,959 3,95D,SIO 4,621,437 22 Analysls of net assets between fund8 Flxed Assets Investment A$$els Current As$¢ts Long ferm Liabilitie¥ Tot¥1 Designated funds UnrestTlCted funds Restri¢ttd fvnds 78,968 319,544 1,534,452 1,932,964 78,968 591,9SS 3,950,510 4,$21,437 11,369 261,048 2,416,058 2,6Y7,104 11,389 23 Pension costs Definèd contributlon $¢hemè The Dioce.san Council operates g defined cor5tribution pension 5Gh¢me. The assÈls of the schem& are held separately from those of the organisation in an Indepeiidently administered fund. Tlie pension cost and ¢harge r8pr6sent ¢ontrik)utions payable by the Councll to the fund and amounted 10 £28,675 (2022: £28,409), The Down and Dromore & Connor Joint Committee operal8s a defined ¢onlribution scheme snd a separatè targeted 9roup personal pension scheme. The schemè does not guararstee the lèvel of benefils gchlov8d by members, The assets of the Scheme are held separately from those of the Jgint Committee in an independently administered fund. The pension costs chsrge represenls contribution payable by the Joint Committeé to the fund and the costs of death in service benefits for omployees and mounted £8,864 {2022, f.8,688) 32
CHURCH OF IRELAND DI0¢es QF DOWN Ar4D E)ROMORE FINANCIAL STATEMENTS FOR TH YEAR ENDED 31 DECEMPER 2023 NOTES TO THE ACCOUNTS ICONT't)) 24 Roconcillation of Operating Surplus to Net Ca8hflcM from opgratiiig Actlvities 2023 2022 Net incoming resources for the year Depreciation IDecregse)lincrease in creditors DecreasÈi(In¢rease) in d@btors Investmènt inc'ome receivable Gains on investments 913,390 3,790 (123.055) (621,805) (79,7971 182,Q591 44,439 5.279 112,8351 11,752 175,5531 229,441 Not cash Inflowl(outflow) from operatlng activitie5 10,464 (202,7231 26 Ralated Party Transactlons Durin9 the year ?nd?d 31 December 2023, The Diocèsè of Down and Diomore paid allowancès, glfts and expenses to Diocesan ¢oun¢il Members amounting to £16.904 (2022. £8,545). The parishes of St Donard's and Seapgtrick each r&ceived £2,542, anl Ihe p?rishe8 Of Ballybeen and ShaNkill each received £847 to reflect the work ¢8rried out on Diocesan bu$iness by the Archdeacon ot Down and the Archdeacon of Dromore. The Diocese of Down & Drornore is one ot eleven Diocese's that make vp the ChurGh of Irèlartd. The Diocese ot Down & Dromore interact5 and works with several connected ¢rganis&tions withln the Church of lrtland, these bein9 thé Diocese ol Down & Dromorè & Connor Joint Committee, the RepreseDtstivp Church Body, the Church of Ireland TrLJstees, the Churr.h of Sreland Orplians & Children's Sociéty for the CouTrties of Antrim & Down, and the Church of Irel8nd Priorities Fuiid. The Diocesè of Down & Dromore COrtneL'ted with the ?bov8 bodies by virtuè of a number of DiocÉsan Council member5 beiny reprèsentatsves on the dècision-making bodies of these or9anisBtions. During the year tr8nsaction5 With these bodies amounted to income of £201,65112022'. £267,227) and expenditurè of £1,339,517 {2022'. £1,296,882). During the year, COI House was 301d by Ihe Down & Dromore & Ctsnntsr Joint Committee, thè funds ot wttich conlinuè to be held by the Joint Comtnittee. The Diocese of Dgwn and Dromore has a 50Oh stak6 In the Joint Cort)mittee. 28 Contingent Liabilit1¢$ A cgntingent liability @xisls wliere the Diocese has to pay the Stipend poyments to the RCB for Parishos when they are unable to cover the costs of their InGurnbenl's Stipend. This is mcnitored by thé Council on a regular b85iS. A c¢ntiDgent liabillty exists due to an ongoing legal case against thè Dloceses Df Down & Dromore concerning h58toriL abuse gllegatsons. The RCB confirméd that it is committed tc assisting tho diocese financially in tslation to the matter. Dlscussions are ongoin9 bebwèen Ihe Diocese arEd the RCB as to how this funding might be deall with on a longer-term basis. 33