CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANGIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNTI Vnr•strlctod Funds RestrtctÈd Funds Totsl 2024 Unr¢striet8d Funds Restricted Funds Total 2023 Income and end¢)vmionts from: Charitable P£IN1tS 1.322.788 1.141.81X) 2.464.588 1.189.752 1.Y24.328 2.414.080 Investmerts 2.$69 82.1)62 84.631 2,531 77.2F 79.797 Other 126.976 269.4n 396,449 1.077,945 1.146,993 Total 1.452.333 1.493,335 2.945.868 1.261,331 2.379.539 3,640.870 Expgnlllture on: Charitable 1,437.&)9 1.295.421 2.733.030 1.209,919 1.293.693 2,503.612 Other (7241 242.464 241,740 4,452 187.424 191,876 Total 1.436.885 1.537.885 2.974.770 1.214.371 1.481.117 2.695.488 NET I(Xtrtinglllncorr* 15.448 144.550 129,1021 898.422 945.382 Gainsllknssesl on veslments 82,059 8.497 108.250 116.747 78,153 Tran5feTS (208.438} 208.438 {143,S091 143,509 Othèr movements Transfer frorn re5erveJ 1114,0501 1114.0501 Net Movem•nt In Funds {184.493} 272,138 87.645 (92,6431 1.(X)6.034 913.391 Reconclllatlon of fvnd5 Total Funds browjht forward 21 670,927 3.950.510 4.621,437 763,570 2.9U.476 3,708,046 Total FndS cartied forward 486.434 4.222.648 4.709.082 670.927 3.950.510 4.621,437 The statement of financial actwities includes all gains and bsses recognised in the year. All income and expenditure derive from continuing activtties The notes on pages 15 to 33 forn part of these accounts 12
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2024 BALANCE SHEET Notes 2024 2023 Fixed assets Tangible assets Investments 14 15 8,527 2 793 851 2.802.378 11.369 2677 104 2,688.473 Current assets Debtors Cash at bank and in hand 17 18 978.162 952 076 1.930,238 934,438 1026 647 1.961,085 Current Liabilities Creditors- amounts falling due within one year 19 Net current assets 1906 704 1932 964 Total Assets Less Current Liabilities 4 709 082 4 621437 Credttors.. amounts falling due after more than one year 20 Total Net Assets Funds Unrestricted funds Restricled 21 21 486,434 4 222 648 670,927 3 950 510 Total Funds Theses financial statements were approved and authonsed for issue by the DI(esan Council on on ils behalf by= (Clerical Honorary Secretary) (Lay Honora Secretary) The notes on pages 15 to 33 form an integral part of these financial $tsterrnts. 13
CHURCH OF IRELAND DIOCESE OF DOWN ANO DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 December 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 24 (159,2021 10,464 Investing activities Purchase of investments Disposal of tangible fixed assets Investment income received (146,713) 680 79.797 84.631 Net cash {used in)Igenerated from investing actlvitles 84,631 (66,236) Financing activities Increasel{decrease) in bank bans {274,7051 Net cash used in financing actlvltles 274.705) Net Increasel{de¢rease) in cash and cash equivalents (74,571> {330,477) Cash and cash equivalents of beginning of year 1.026.647 1.357,124 Cash and cash equivalents at end of year 952,076 1,026,647 Relatlng to: Bank balances and short term deposits 952.076 1.026,647 14
CHURCH OF IRELAND DIOCESE OF DOVIN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS ACCOUNTING POLICIES The principal accounting policies, judgmenis and key sources of estimalion UnrtaInty are set out below. {a) Basis of accounting These financial statements have been prepared under the historical cost convention and in accordance th 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 Di¢xesan Council Members consider that these accounting policies are surtable, have been consistently applied and are supported by reasonable and prudent judgment and estimates. The Di¢xese of Down and Dromore meets the definition of a publfrc benefrt entty under FRS 102. The financial statements are prepared in accordance with the historical cost convention. (b) Going concern The Diocesan Council has revievéed the budget for the year ahead. and is satisfied that there are adequate funds in place to ensure that the DirKese can continue its activities. There are no material uncertainties about the organisation's abiltty to continue, and on that basis il is a going concem. {c) Income Recognition Income is recognised in the period in which the charity is entitled to receipl 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 specrfied that the incorne is to be expended in a future period. Grants, including caprtal grants. from the government and other agencies have been included as income from a¢tNlties 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 wrth greater freedom of use. for example, govemmenl block grants Donated facilities are included at Ihe value to the charAy where this can be quantified and a third paty is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. (dl Expenditvre Expenditure is included in the Statement of Financial Activtties on an accmals basis. exclusive of any VAT which can be recovered. Certain expenditure is directly attributable to specific acttvities 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 of an estimate of the proportion of lime spenl by staff on those activities. (e) Fund Accountlng Designated funds are unrestricted funds set aside at the discretion 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 Ihe Diocese in accordan with the regulats.ons that govern the Diocesan Council. Restricted fvnds are those donated for use in a particular area or for specffjic 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 DE¢EM8ER 2024 NOTES TO THE ACCOUNTS ICONT'D} (fl Inveslments All income from investments is accounted 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 the middle market prices ruling at the close of business on 31 December 2024. Any realised profrts or losses. arising on fixed asset investment sales are taken direct to the statement of financial tiVitIes. Profrts or k)sses are cakulated on Ihe average cost basB. Ig) Depreciation of tangible fixed assets Tangible fixed assets are stated at cost less depreciation. Depreciation is provided 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 250h reducing balance 2./0 Straight line Buiklings are not depreciated. It is the policy of the Dsocese to maintain its properties in a state of good repair. The Diocesan Council's assessment of the residual value (based on values prevailing at acqui51tion) and useful economic lrfe of the long leasehold property is such that the charge for depreciation woukl not be significant., consequently this property is not depreciated. The depreciation rate for fixtures & frtting and computer equipment was changed to reducing balance from strawht line as the Council feel this is a better reflection of the value of the assets to the Diocese. {h) Impairment of fixed assets At each balance sheet date, the carrying amounts of tangible and intangible assets are reviewed to determine whether Ihere is an indication that those assets have suffered an impairment loss. Wnere the carrying value exceeds the estimated COVerable amount (being the greater of fair value less costs to sell and value-in-use), an impairment toss is recognised by writing down the assets cash-generating units to their recoverable amount. An impaiment loss is recognised immedialety in the profrt and loss. Any reversal of a previous irnpaimienl loss is similarly recognised immediately in the profi( and k)ss. (11 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepartl net of any trade discounts due. til Cash at bank and In hand Cash and cash equivalents include cash in hand. deposrts held at call with banks and other short-lemi liquid investrnents with original maturities of three months or less. (k) Creditors and provisions Creditors and provtsions are recognised where the chanty has a present obligation resulting from a past event that will probabty result in the transfer of funds to a third party and the amount due to settle the obligalion can be measured or estimated reliably. Credrtors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. (11 Financial instruments The charity only has financial assets and financial liabilthes of a kind that qualify as basic financial instruments. Basic financial instruments are inth'ally recognised at transactK)n value and subsequently measured at their settlemenl value. 16
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS ICONT'DI (ml Pension costs The Diocese conlributes lo the full costs of the pension schemes for slaff employed by the Diocesan Council. Contributions payable are charged to the Revenue Account in the perityj to whr¢h they ielate. These contributions are invested separately from the assets of the Diocesan Council. Income from charitable actlvltles 2024 Unrestricted R•strld•d Fund$ Funds 2023 Total Designatsd Uftrestriet•d Restrlcted Funds Fund Funds Designated Fund$ Total Parochial assessments MIs5ion & ministry ipls 870,816 870.816 851.S92 851,592 64.468 296,899 926.387 1.287.754 43.536 207,019 1.011.112 1,261,667 64.468 1.167.715 926.387 2,158.570 43.536 1.058.611 1.011,112 2.113,259 Grants 51.670 38.935 215,413 306.018 47.170 40,435 213,218 300.821 Total 116.138 1.2(.650 1.141.8 2.464.588 .706 1.099.046 1.224.328 2.414.080 Income from investrnents 2024 2023 Desi9nat¢d Unrèstriet•d R•strlcted Funds Funds Funds Dèsignat8d Funds Unrèstrlcted Restricted Funds Funds Total DiwideThls Intere51 re1vable 2.569 72.226 74.795 2,531 67.548 70,D79 9.836 9,718 9,718 2,9 84.631 2.531 77.266 79.797 Other Incorne 2024 2023 D•stgnat4d Funds Unrg$tricted Restrict•d rotsl 09s19nated Unrestrict•d Funds Fund5 R•stilct4d Tt)tal Funds Fun(ts Funds Sundry Items Stipends Joint CDfTwnillee 126.976 19,713 146.689 69,048 121,967 157.281 798.697 191.015 247.423 2,337 247.423 157,281 798.697 2.337 t26,976 269.473 3*.449 69,048 1.077.945 1.146,993 17
Cf IRELP f¥ocESEOF AND DROMORE FWIAK1ALSTATEWENTSFtKITHE YEAREfffjED31 DECEklBER Zfj2 NOTES TO THE ACCOUNTS ICONT'DI Grants reeeived 2024 20 Fur Fw F¥rtd Fund5 Fun 2,4 edrasicify COnc ¢treathiAl SeEkeisi Ee¢DAVW IfilaThicChuFth Pni) lTucafftetCtrth P pnIS Fwo I Pnonls Fwd (Con•1111nl9knI PM11s FLid IDvAn & yJth Owti lowruMcUffth Fwo 1(chtoA5yrnSeekeI5l ITIlanthrthpj Pth)Dis Fthid IKiknuthl F0 (Ards Conmd) An¢n TNs¢iG•A8ralChL¥ch P&il In¢wnabon MiSlINerY KE¢P ILtrArBt WÈW Inthots¥ MISS{Trchtth Fl> A¢8_CIYD OtyFun¢mo Re8-M PAan¢rs-Ti1anchwthPImt Re8 - N¢ff3sutChuch Planl Re8- pnIel kliThslry-WanBryohil Col you Dwanmnl coi oc$ col ILty¥erBt4Th111 coi cts (Art$traI Coi cts ID&DPThsÈ Part1 COI OCS IFoi9thlTh)Istyi coi ocs (rvWèMlChFailI ¢01 ocs Itmi 8172 8272 io. J.¢ $2Th) 2CQ 4.s iO.UUD io.r*)o 10.0 929T O,Y35 11. 11.rth) 1.0 18
OF IPELINfJ rM)CESE OF fAYtt4 lD DROM(iE AriwL$TATEfiENfs FlEYEAREets3l (E¢EM8ER 24 NOTES YO THE A¢¢OUNfs ICONTDI Gfènts recolved l¢ont'di 1023 Talal Umsirkiryd •(l•d Fwd Fknnds Tot•1 Funds Fwd$ Futsjs FuvAJ$ 10.otyj 17.fO) 17.C 17.C 16.( ArmTpMt lenGener4urth 2D24) Amnyntst tsJtiai 3025) TBF&KL TrJ51 (Afdscwnerti TBF SKL IArd5Cwllffll TBF &KL Ttr¢ryS IOAregth Iv Refv9ees& AWmS¢ekiySI TBF &KL Tlwjryso T102tretht B9$&A$ybmN$j$I 17.CA)D 16.¢I)0 1,J34 2.16 4.thjo 1.0 1h)O 650 BlackS4lll&(Lwei Br4) Black S4fi14 ITrtKrt¢t) HL¥JSe DIVK RYD IDJrawnl HL¥J$eolVn IG¥%r4) IWSeOIv J.J54 IQ6 16.670 14.170 2.500 Anon Tiu#- TLyrwnel Jose RankTSt(rl0N) rtuWmEI} 20.tr4J ID.000 4.180 4,110 BÈneli•J TiuStlDjoc¢ll SeeWSI Rthwsi 8enelailTruallMIstryAks1pSctrI 2D.000 20,1 Vi(0 H¢ns TnJs¢(LOl knx¢ll Progr) Sd Flne1h Pm•1
alLIRCH IIELATrI) tXOCÉOF Do11D0ROm0RE ANAI4CIAL sfATEIIE14TS FOAnEYEft EIIDED31 LECEMBER 1021 Gr•ot$ rK4Y•d1¢4ykVdl 2023 Tutsl Tolal Fur F¢J*Js PdI Fund 04 FAolhéTS 8wl 04 Molhéts ffhÈGknChwthPkn D& unl Qt4rtetl 15D 150 250 o& David PsulCro59 rr14[ io.otyj 10,000 7,500 T[U 37604 18.175 51.67 38.935 3.Ole ¢0.435 3W.822 20
CHURCH OF IRELAND DIOCESE OF DO? AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS {CONT'D) Breakdovm of expenditure on charitable actlvltles Notes 2024 2023 Grants & Ministry Supwrt Priorities. fund Central Church Assessments Clergy Pension Project Delivery Support Costs 171,830 78,650 189,480 701.238 1.008,642 583.190 264.655 70,785 180.612 802,195 708,310 477,055 10 2,733,030 2,503.612 Grants and support for mlnlstry 2024 2023 Designated Unrnstrlctsd Restrlcted Funds Fund5 Funds D¢si9natad Unrestrlcted Re3trlcted Funds Funts Funds Total ntsln Parish85 Down C81IRdralIgera1 supporil Bangor Prima Bellasl.. St Brendan's West Newtownards Pansh Support Fund.. Annaclone Parish Swport Fund.. Magheralty Newcastle- Fan¥lies Work Support Diocesan Rejuvenation Fund- lfj"ltyleagh Diocesan Rejuvenatlc Fund- Gilnahirk Diocesan Rejuvenatic Fund- Casllewellan Diocesan Rejuvenab"¢ Fund- 1¢00 Dlocesan Rejuvenation Fund- St John's Lurgan 20.¢XiI 20,OCX) 20.000 3.500 10,000 3.500 10,000 20.000 S.fJ)O 20.0 2.500 2.500 2,500 38,000 38.oc s,¢x)o S.CQO 2.500 2,5CKJ 2,500 2.5 11,Q)O 77,500 117.%10 11.0(X) 13.OIY) 38,CKIO 20.OLKb 20.0( Grants for DIOan & The HUB Belfast Church Plant Fund inistry Apwentsce Scherr Rejuvenalion Fund Lambeih Resclutron Grant 3,C()O 6.2 5,CK)O 18,C#)4 3.078 6,002 5.000 18.004 10,760 42.766 18.004 3.078 35,084 18.004 10.760 42,7e6 5.C•JO $5.084 13.0( 73.084 20.OC(> 62,766 77.5 160.286 21
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS ICONT'D) Ministry Support 2024 2023 Dosignatgd Unr•strF¢t•d Restir¢t¢d Funds Fund¥ Funds Total Doslgnated Funds UTrrestrlctèd Funds Restricted Funds Totsl Cler Trainin Su ort& Curates, Chik1ren's Allowances Pasloral SuppcKt Clergy Cwferen Sabbaticals 2.286 2,286 2.046 5.802 9.220 1.130 6.932 9,220 15.2C6 3.416 33.644 5,202 37,337 3,Q)O 45,539 650 5,852 51,337 14.000 15.2( 30,228 16.698 62,237 Trainin evel Book v0¢xrS 3.425 3,425 19,535 2.625 2,625 5.763 2.752 Diocesan Readers 19,535 5.763 Foundallon Year grants Diocesan Evangaists Education course5 Continual Minislerial Educats"on Ordained Local Ministry Bible COUTses & training Other 2.S40 1752 3.228 3.228 1.475 766 1.475 2.369 2.369 8.880 8.880 3.720 19.885 923 923 2,2C6 17.679 14.378 15.365 2.709 42,152 2,709 22.397 41.458 23.644 6S.102 19.755 Totsl 71.686 27.(fj0 98.746 67,936 36,453 104.389 PrOjt Delivery 2024 2023 Bishops Ministry Fund Expenditure Church Plant Expenditure Communications Council for Mission Cover Duty Di¢xesan In-service Fund Prison Chaplaincy Scheme Income payments Sl Brendans & St Clements Youth & Children Di¢xesan Links 17,700 525,884 39,143 37.743 326,330 33.822 200 65,748 505 17.539 17,723 30,851 177,849 1C(1.866 427 22,040 19,496 32,257 200.716 50,113 1,008,642 708.310 22
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS {CONT'D 10 Support Cost Breakdown Total C¢)sts 2024 Total Costs 2023 Down and Dromore and Connor Joint Committee Costs Diocesan functionaries, expenses Staff salaries Staff secondment, paid to parish Diocesan Surveyor House cosls DIe$an Synod Costs Audit and accountancy fees Legal Expenses Professional services Removal grant Bank fees Insurance Deprecialion IT & Photocopying Contact management system Sundry 60,572 60,705 30.524 21.318 209.917 207,679 35.114 6,780 19.372 40,988 2.961 2,250 4,218 6,025 14.460 8,640 140.088 65,683 13.412 5,304 23,508 22,289 839 633 7.920 2,563 2,842 3,790 5,208 7,088 4,880 6,499 7.355 8,821 583.190 477,055 11 Other expenditure 2024 2023 ProvTrsion for bad debts Stipends Legal defen insurance (1,939) 16,116 238,247 169,040 12 Net movement in funds 2024 2023 Net movement in funds is stated after charging" Auditors remuneration Depreciation 4,800 4,800 23
CHURCH OF IRELANO DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS (copir'D) 13 Staff costs 2024 2023 Down and Dromore staff: Wages and salaries Employer's NIC Pension Costs 333.683 315,281 29,755 26,491 26 459 23 982 Church Plant and Parish Worker staff: Wages and salaries Ernployer's NIC Pension Costs 236,888 186.162 21,912 15,750 other: Wages and salaries Employer's NIC Pension Costs 151.065 4,90S 46,450 1.073 Total stsff costs: Wages and salaries Employer's NIC Pension Costs 721.636 547,893 56,572 43.314 37 539 No employee recewed emoluments of more than £60.000 (2023: None) Ke Mana emenl Personnel The total amount of employee benefrts received by key management personnel in the period was £107,217 (2023: £102,923). The Council consKlers rts key management personnel ccrfnprises of the Diocesan Secretary and Diocesan Developrnent Off]cer. Trustee remuneration and ex enses The DI0Se of Down and Dromore paid all¢)wances. gifts and expenses to Diocesan Council Members amounting to £65,010 (2023= £16,904). No charity Trustee received payment for professional or other services supplied to the charity (2023.. £nil). The average number of persons paid by the organisation during the year was.. 2024 2023 Down and Dromore staff Church Plant staff Prison Chaplain 10 11 Total The Diocese also facilitated the payment of eight Church Plant workers and a Prison Chaplain. the total salary costs of Ihese wowkers tolalled £291.176 (2023. 229,3111 The Diccese is reimbursed by the relevant Church PlanUParish and Northem Ireland Prison Service for the salary costs incurred. The full-time equivalent level of Down and Dromore staff in 2024 was 9.7 (2023. 9.2). 24
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE F114ANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS (CONT'D) 14 Tangible fixed assets EquipmenL Flxtures & Fittings Cost or valuation: Al 1 January 2024 Additions Disposals At 31 December 2024 33,856 33,856 Depreciation: At 1 January 2024 Charge for year Eliminated on disposal At 31 Dernber 2024 22.487 2,842 25,329 Net book value: At 31 December 2024 8,527 At 31 December 2023 11,369 No assets were held under finance leases or hire purchase contracts 15 Investments Listed Investments Property Investments Total Investments Markot Value at 1 January 2024 Additions at Cost Disposals Revaluation Realisedlunrealised gainsl(losses) 2,404.254 272.850 2,677,104 116.747 116.747 Market Value at 31 December 2024 2.521,001 272,850 2,793,851 Cost of Investments 1,105.559 272.850 1,378.H9 25
CHURCII OF IAELAM) CIAJCESE OF AND DROIIORE NAkflALSTATEMEPITS FCltnE YEARENDEO JI OECEMBER 2024 NOTES YO ThE ACCOUNTS ICOIITDI IS lfiv•stm•nts Iconfdl M•n4glll9 FuTrds Tru# ndty rty HtyOT 31 742 77226 2024 31.712 2023 35.337 120.692 4.on 9.21¢ ie5.971 221.693 Fw 4.14 9.361 •ltaJiAddona1C4e Fr Fur QpMnI Fund EloTnIFuftd E101mIFtsftd EtynIFuI Eip¢nJ•S Fund •1 8ewe51 9.367 03.6 203.095 53.769 115.6 172.•SQ 41n 15e.457 aZ.7$6 40.987 l.B37 2.75e 40.957 75.483 Sjmry 1.788 1ao.d35 2,972 P¥tr P•rt¥tr SupryrtFu SLyqrd Fu f•JMry 173.gjl Sutthy Sut 165.D 231.2 7.726 16.051 iJ.oao 2.793.651 151.293 227. 333.39) Suporannuabon SupèttfftnaQn F klitrY JiNStTy ¥J12•6 ¥a7.ll6 Eww12 1W.( 16.054 I.C 114.QB8 2,677,1D4 1.9)4 272,8$0 SI0¢st• 31 0•b224 lar and Lkce5pofOO d has a4VA (E72.8201 ewy Trf• iteh&Jtyth& Rw¢s¢niI Chutth . Thèproperty li Hanmlh Lld.8 Sirt BT62 IJD. Th• 421 •qwr1W•st thewJpErtYW Y1 fMi. deds (such am th• Reppsenli 8oOy.Thpropèty15 h•b&al¢o The Lioeese J CQh¥rthasa34.79%(EtO).OWlwutythE51ntr W4pethfya121 &ttwea. bytr ResenL•lv ChL¥th v&Iup i51tEyiÈd 31 DK•MbKJY24 fvJCrrVrWtsmrtf(W ntrCITUrilToMoDthe IWW11. *5¥14$ 26
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMEprrs FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS {CONT'D) 16 Joint Cornmittee with Connor Dlo¢ese JOINT INCOME & EXPENDITURE ACCOUNT 2024 2023 INCOMING RESOURCES Rents an¢J contrLIticns 120,(KJO 73.955 154.751 Depos Inle(est recelvable Investn*nt IncomeBank Interesl 8,479 154.663 Other Income 125 6.442 194.080 324.335 RESOURCES EXPEF4DED Vvages & Salaries Office & Building Mainten8nr Hse Running Costs Depreat)n 10.864 40.004 5,593 32.628 172.592 142.730 6.080 195,129 220.371 Nel rnovement in fun(ts 11.0491 103.964 NET INCOMING RESOURCES Share of net incL%ming resources due to tActeses and tkOTThxe Share of rEt incoming reSoUrS due ¢0 [eSe of Comr 152SI 15251 51.982 51.982 Balance al 1 January 2024 373,582 269.618 Balance at 31 December 2024 372.533 373.582 BALANCE SHEET AT 31 DECEMBER 2023 FIXED ASSErs TarJIb Assets.. Share ned by Diocese cl cOnr Share owned by Diocese of t)own and DrorrKKe 9,251 9.251 12,112 12.112 NET CVRRENT LIABILITES Share (vmied by Diocese of Conr Share cvmed by Diocese of DOM) arK1 Dromore 889.988 887,651 887.6S2 889,988 1.798.478 1.799,527 RESERVES Diocese of Connor 899.r39 899.763 Diocese of DO aThl Dmnb)re 899,239 899,764 1,798.478 1,799.S27 These figures do not form part of the DieSe of Down and Dromore accounts and are only sht)wn here as the Diocese of Down and Dromore have a 50Yo share in the Diocese of Dn and Dromore & Connor Joint Committee. 27
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS ICONT'D) 17 Debtors 2024 2023 Debtors Provision for doubtful debts Joint Committee Prepayments 99.259 (65.320) 889.988 54,235 98.825 168.415) 887,652 16.376 978.162 934.438 18 Cash & Bank 2024 2023 Funds held at.. Representative Church BCMJY Nationwide Building Banks 350,866 18.394 582,816 302.840 17,770 706,037 952,076 1,026,647 19 Credltor: amounts falling due within one year 2024 2023 Accruals 23.534 28,121 23,534 28,121 20 Creditor: arnounts falling due more than one year 2024 2023 Bank loans- Danske Bank Representative Church Body 28
¢IrtJRCH c If£LA EIOCESE OFCQWN AIIDDROMORE NlAL STATEIIEIIFS FOR TNEThReD 11 DEC18£R#024 NOTES TO THE A¢COUN7S I¢ONT'DI 21 Fwid5 JI t•rnb•r r•lWngtLI ¥Mlni•r4 2014 v•s1rn•rt OESh3I14TED Fufwd Plwl 11$.139 Totsl 13.1S7 37.305 ZYl821 (658.W21 40.%7 0•¥•Pin1rA 221.894 (41S.L} 21Q619 2X.619 11$ {13.) 13. G9rd7 970.816 n4 216.047 216.047 Deve*pffjpfflOffjc•. 120.538 10.395 14Q.fA9) f39.1421 39.141 P.0701 170 2,781 I.7 o.iiJi Totrl S•1.Kg l.JJ6.1•5 6.431
FltriatKIAL 5TATEIIEPITS FOR YHEYEAR ENDEDJ1 DECEMBER 1024 NOTES TO TrIE ACCOUNTS ICONTDI Ban¢•t Jl )•¢•ffib•r B•lm¢E r•191 Inv4stm•nt IIESTlIG7EDH e•7.65Z 226.215 4tDIJ I.7 3SI 512 2339 8Bq.gll 249.e62 4¥.7fj7 7.720 YoLryfvthn5 1.05) 4.745 JI742 141.918 242.112 7J4.122 (Jeity 182gY 1925$ 14e.814 I.863 Y.882 19.899 .192 3.ws 2219) 6.523 241 212.767 140.478 057.859 13.f 114Q3 15.39 232.894 161.024 879,6J7 &5h¢PS Mkrdslry Sive 142.1751 19.4841 28.1ll 141.134 a14.445 971. 0CS•en•df 17743 10.367 140,3WJ 49.n4 ie.367 140,300 49,T44 3,698 n•rnl chWthpII 35617 97.16J 49.471 10.197 66.439 31.rD) 116.1J 161.4901 Chutch Plii ChhpI 7.531 .7081 (TJ.lJSi 15.7801 (04.05 21 Ba2 24.02J TYCalMlchUh R•uvenalvJn ThAr•achAtylLTh SeekepJS Re Ftrg 53.512 27.0 316 27.501 37.604 1Q.97S 1fj.447 J4.2Z7 Y,227 33.819 6fy9$7 11117 14.076 14,076 5,234 18,447 6,443 Atdl CNr 36.159 fJ9.glVJ 6.483 T¢i•l 43U6 2.$24 30
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FIIIAN¢IAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS ICONT'D) Desi nated Funds The detsils of the main elements Ihal make up the various Designated Funds are as follows" General Church Plant Fund- Support of the overall Church Plant work. Unrestricted Funds The details of the main elements that make up the varioys Unrestrlcted Funds are as follows.. Exponsgs Fund - The General Diwesan Office. Clergy Cover Duty. Pns¢)n Chaplaincy. Registry Fees, & Sl Brendan's and St Clement's Ministry cover. D•vglopment Fund- Central Church Assessments. indudiro Priontw Fund. grants in support of church development & Bishop's Office Minlstry Fund- Pastoral Care. counsellirvJ & general swport for those in Mini%ty General Fund- Parish Assessments Development Office, Youth & Chlldren's Work - All ath"vrties relating to genernl Di058n Development work. Youth & Children's support. including Camps. Confimation WIEnd, Swnmer Madness. Youlh Leadefship & Mison Trips. Companlon Link- Support of link DI0Se Dlocesan In Servlce Fund- Support of Clergy & th¢)se in Ministry - conts.nual MinLStenal Educakn"on, Diocesan Readers. Bishop's Bible Course, Ordination retreats & Clergy Conference. Dlocesan Communlcatlon - The wort< of the Di050n Communicatsons Officer Council for Mission- The work of the Council foi Mission Dio¢esan Ordlnation Fund- Support of Ordinand5 Col House Fund - The devdopmenl of Church of l¥elarKI House, Belfast Restricted Funds The details of the main elements that make up the various Restrlcted Funds are as follows: Col House Fund- The development of Church of Ireland House, Belfast Col House Joint Committee- Shares owned by DI0$e of Down & Dromore Church Extension Fund- Support for Church extension work. Young Adults Fund- To support young adults work within the DI0Se Belfast Additional Clergy- Support for AddItnal Clergy in the Great Belfast Area Endowment Fund- General support of the DI0Se in line wth original trust deeds Superannuatlon Fund- For the support of Ctergy Pensions within the Di0Se in line wtlh original Irusl deeds Parish Support Fund- Support of Poor Par¥shes as the Council may deride Bishop'$ Ministry Fund- Support Of1 Bible WeeK COnfinatiOns. Ordinati¢)ns. St patri'S Day celebrations and Clergy Con*erence. Stipend Fund- Clergy Pensions. Stipgnds & chikl allowances to curates Soclal Services Fund- Support of Soo'al prcyJrarnmes wilhin the Diocese Commissiongd Workers Fund- For the support of women in 'Commissioned posts. wthin the Diocese. Dio¢¢san Cathedrals Fund - Support of Down Cathedral and Dromofe Cathedral Dundrum Church Plant Fund- Supp)rt lor the Church Plant work in Dundrum Lower Braniel Church Plant Fund- Support for the Lower Braniel Church Plant Moneyreagh Church Plant Fund - Sijpport for the Moneyreagh Church Plant Killough Church Plant Fund- Support of the Church PL4nt work in KilloLoh Tltanlc Church Plant Fund - Support for the work in Titan Church Tullycamet Church Plant Fund- Support of the Church Plant wotk in Tullycarret General Church Plant Fund- Restricted Church Plant support Rejuvenatlon Fund - For the support of churches eommrtted to revitslisalion of Iheir ministries & outreach Outreach to Asylum Seekers & Refugees- Support of the outreach to Asylum Seekers & Refijgees Forge- Support for the Diocesan Ministy Apprenbceship Scheme Castlewellan & Kilcoo- Support for the Castlewdlan & lfj1C Chltrch Plant Afds Central- Support for the ATds Central Church Planl 31
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS {CONT'D) 21 Funds {cont'd) Designated Funds Unrestricted Funds Restricted Funds Total Net incoming l (outgoing) resources Transfers Increase in market value of investments Transfer from reserves 102.481 (181.449) (87,033) (26,9891 8,497 (44,550) 208,438 108.250 (29.102) 116,747 178.968) (105.525) 272,138 87.645 Al 1 January 2024 78.968 591,959 3 950.510 4621,437 Al 31 December 2024 486.434 4.222.648 4,709,082 22 Anatysis of net assets between funds Fixed Assets Investmenl Assets Current Assels Long Term Liabilities Total Designated funds Unreslficled funds Restricted funds 8,527 269.543 2.524,308 2,793,851 208,364 1.698,340 1.9C6,704 486,434 4,222.648 4,709,082 8,527 23 Pension costs Defined contribution scheme The Diocesan Council operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the organisation in an independently administered fund. The pension cost and charge represent contributions payable by the Council lo the fund and amounted to £36,097 {2023.' £28,675). The Down and Dromore & Connor Joint Committee cperates a defined contribution scheme and a separate largeled group personal pension scheme. The scheme does not guarantee the level of benefrt5 achieved by members. The assels of the scheme are held separately from those of the Joint Commrttee in an independently administered fund. The pension costs charge represents contribution payable by the Joint committ to the fund and the costs of death in service tenefits for employees and mounled £8,240 (2023.. £8,864) 32
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANGIAL STATEMErs FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS {CONT'D) 24 Reconciliation of Operating Surplus to Net Cashflow from operating Activities 2024 2023 Net incoming resoLJrces for the year Depreciation (Decreaseifincrease in creditors Decreasellincreasel in debtors Investment income receivable Gains on investments 87,645 2.842 (4.5871 (43,724) (84,631 > {116,747) 913,390 3.790 (123,0551 {621.8051 179,797) (82,059) Net cash intlowl(outflow) from operating activities (1 $9,202) 10.464 This reconciliation discloses the non-cash adjuslmenls applied to the Net Movemenl in Funds reported in the Statement of Financial Activities on page 12 to arrive at the Cash Generated from Operations figure disclosed in the Statement of Cash Flows on page 14. 25 Related Party Transactions During the year ended 31 December 2024. The Dic¢ese of Down and Dromore paid allowances. gifts and expenses to Diocesan Council Members amounting to £65,010 (2023.. £16.904). The parishes of Ba15ybeen and Shankill each received £15.955 and £19,159 respecttvely to refiect the work carried out on Diocesan business by the Archdeacon of Down and the Archdeacon of Dromore respectively. The Diocese of Down & Dromore ss one of eleven Di(xeses that make up the Church of Ireland. The Diocese of D¢Jwn & Dromore interacts and works with several connected organisations WEthin the Church of Ireland. these being the Diocese of Down & Dromore & Connor Joint Committee. the Representative Church Body, the Church of Ireland Trustees, the Church of Ireland Orphans & Children's Society for the Counties of Antrim & Down. and the Church of Ireland PTiOrities Fund. The Diocese of Down & Dromore is connected with the above bodies by virtue of a number of Diocesan Council members being representatives on the decision-making bodies of these organisations. Dunng Ihe year transactions with these bodies amounted lo income of £216.539 (2023." £201.651) and expendrture of £1,323,78612023: £1.339.5171. The Diocese of Down and Dromore has a 500h stske in the Joint Committee. 26 Contingont Liabilities A Contingent liabilty exists where the Diocese has to pay the Stipend payments to the RCB for Parishes when they are unable lo cover the costs of their Incumbent's Stipend. This is monf(ored by the Council on a regular basis. A contingent liabilty exists due to an ongoing bgal case against the Diocese of Down and Dromore concerning historic abuse allegations. The RCB confimied that it is commttted lo assisling the Di¢xese financially in relation to the matter. Discussions a ongoing beeen the Diocese and the RCB as to how this funding might be dealt with on a longer-temi basis. ID599656 33