Charity registsred number- 108457 Diocese of Collnor Financial statements for the year ended 31 December 2023
Diocese of CoAllOf Firt(Meiol stalementsfor the year ended 31 December 21J23 Contents Page(s) Diocesan infonnation Report of the Diocesan CouncAI Independent auditors, report 7-10 Slatement of financial activities B&lmce sheet 12 Notes to the fuwicial statements 13-22 StateMent of restricted hnds 23 Statement of unre8tri¢ted fund8 24 ASM
Diocese of Connor Financirtl sttt¢éhtsntsfor Iheyear ended 31 December 2023 Page I Diocesan information as at 31 December 2023 The DI¢5n CouDcII for Conllor Kx-officio The Bishop The Archdeacon of Belfast The ArohdeaGon of Connor The Archdeacon of D&lriada The Right ReVerId G T W Dllvison Th¢ Venerable B G Foi'de The Venerable S R McBride The Ven¢rabl¢ E P Dunda8 Honorary SecretArles of tbe Diocesan Synod and Councll ArehdeNconry of Belfast The Rev Canon J C Carson N W Lyons Ar¢hd¢aconry of Connor Archdeaconry of Dalrlada The Rev W J Boyd (from Jf4ne 2023) The R¢v T A G Mccann Mr S R Addis (from June 2023} T Lyttle OBE Clerlcal Diocesan Coullcll Archdeaconry of Be$t The Rev P B Jones Th¢ Rev Canon T K D GTalLam (unlil Sept 2023) The Very R¢Y S B Forde The Rev 3 D CaD]pbell-Smyth (until June 2023 andfrom Sepi 2023) (frorkt June 2023) The Rev Canon W J Taggart Th¢ R¢v A D G MoAlister (z4ntil June 2023) (untllJuF3e 2023) The Rev T S Johnston The Very Rev W S WrighL Dean of Tb¢ R¢v N Eryine ffroth June 2023) Connor The Rev C B Lacey (from June 2023 ts Dec 2023) (rrom June 2023) The Rev P BlaRT Archdeaconry of Connor The liev N J Dark The Rev CaJ)non D P I(¢rr ArchdeacDnry of DAlriada The Rev A P Can]pbell The Rev Camion R M Mthnnell The Rev D C Cbristi¢ Th¢ Rev D Lockhatt Lay Diocesan CouneAI Arehdea¢onry of Belfftst Archdeacollry of Conllor Mrs J Weir MBE H R J Totten MBE Dr IC F Dunn (until Jww 2023) T Flanigwi {unlilJune 2023) G Edgar Mrs C L H Cherry MBE A W Macartney T G SteveD50n (unfilJune 2023) R J Patte0 J Neill A Mclntosh (uAltlJune 2023) J W Wallace Mrs A Miskimmin (until Jiwe 2023) J A William8 (from June 2023) G E McGaughey (from June 2023) J R Martin (from June 2023) Ar¢hdeaconry of Dalrlada J Richardson NRBolt Mrs V H I(nott (untilJune 2023) R G Reade (untiljune 2023) Mrs N Nixon (untrl June 2023) Dr A J Campbell S R Simpson (from June 2023) IC McGall Urom June 2023) J A Thompson (from Jtme 2025) G E cIT&0n (from June 2023) Co-opted m¢mbers The Rev A E Adams Dr J S Brown Mr J Browii (untllJune 2023) ASM
l)eoeese of Connor Finanelnl slatementsfor the year Ended 3] December 2023 Puge 2 Diocesan information as at 31 December 2023 (cont'd) RegAstered office Cojnor Diocesan Offico Unit I Channel Wharf 21 Old Channel Road Belfast BT3 9DE Auditors ASM (D) Ltd 79 Cunllillgham8 Lan8 Dungannon Co Tyrolle Bfii 6 BX Solicltors Edwards 8L Co 28 Hill Street Belfast BTI 2LA Silkin NI LLP 220 Ormeau Road Belfast T7 2FY AIB (ND University Road Belfast BT7 IND ASM
Dlocese ol Connor nnancialslatem¢Atsfor theyear ended 31 December 2023 Page 3 Report of the Diocesan Council for the year ended 31 December 2023 The Diocesan Council. who are th¢ Trustees for charitable purposes, presents its report and audited annual financial statements for the Dioce8e for th¢ year ended 31 December 2023. The Council ha8 adopted the provision8 of the Charities Acts (Northern Ireland) 2008 & 2013 and Accounting and Reporting by Charitics,, Statement of Recommended Practice applicable to Gharities preparing their financial statements in accordance with the Financial Reporting Standard applicable ill the UK and Republic of Irdand (FRS 102) (effective January 2015). Objectives and activities The objectives and activities of the Diocesan Council, which are unchangcd from last year, are principally to manage certain affairs in relation to the cures in its area of operation, to assist with the strengthening and encouragemcnt of those cures and other supporting activitie8 which include financial and administration seryices to achieve these objectives. The Trustees are aware of the Charity ComLnission's guidance on public benefit in The Advancement of Religion for the Public Benefit and have had regard to it intheir adnjillistration of the Diocese. We believe that by promoting the work of the Church of Ireland in the Diocese of Connor we help to promote the whole mission of the Church (pastoral, evangelistic, social and ecumenical) more effectively, both in the Diocese as a whole and in its individual parishes, and that this provides a benefit to the public by: -Providing facilities for public worship, pastoral carc and spiiitual, moral and intellthal devclopment, both for our members and for anyone who wishes to benefit from what the Church offers; and -Prnmoting Christian valucs, and service by mcmbers of the Church in and to their communitie8, to the benefit of individuals and society as a whole, Achievements and perforniance In the year Ulldcr review, the financial poBitiDn of the Diocese decreased, thi8 is mainly due to the prndenc¢ in providing for bad debt. Although the Fair Share income is still the larg&8t stream of income, thi8 is being very quicHy caught up by th¢ clergy pension fund and overall othcr income a8 a total supersedes the Fair Share. Inv&8tment income has increased by 10.9% over the previous year ninlY due to returns on inveslments at the RCB having a higher divid¢nd this year, bank interest also so shows a significant gain as interest rdtes have crept up during 2023. Thevalue oFinvestnmits held within assets saw a small drop this yw, this reflects th¢ sale of an InvtMellt property. Thcre has been a net gain on investsnents hel(L this 18 because stock markets have recovcred during the year. A review of the investments was also carri¢d out by the Finance Con)mittee, but no Si]ifIcant change8 were recommended to Diocese Council. Overall, the Diocesan Funds have increased from £4,014,525 in 2022 to £4,225,051 in 2023. A review of the parish banding system wa8 carried out in 2023 with a report going to Dioce£an Cowicil at its first meeting in 2024. Finallclal review The financial statements are presented in the standard fOrnt required by Statement of Recommended Practice 'Accounting and Reporting by Charities, a8 issued in March 2015. The Statem¢nt of Financial Activities (SOFA) shows gro88 incornc from all 8ourc¢s. ASM
Diocese of Connor Fin<eI statementsfor the year ended 31 Decethber 2023 Pag¢ 4 Report of the Dfiocesan Council for the year ended 31 December 2023 (cont'd) Results During 2023, the Diocese had net expenditure of £18,901 (2022: net income £44,405). Expenditure for the Diocesan Development programme deThsed to £230,826 (2022: £263,941). This year the Diocesan Council has again includ¢d a significant provision for doubtful debts. The CounGiI would be hopefid to collect all monies due, but prudence suggests that provision should be made in recognition that there may be difficulties in collecting certain items. The provision made for debtors in 2023 is £313,620 (2022,. £252,352). Our creditors this year fell SilficantlY from £335,979 in 2022 to £83,577 in 2023 as we repaid loans fimded to us by the RCB. This is reflected in the fall in our bank balance8 by the end of the y&ar, 2023 £567,776 (2022: £823.259). Going concern The Diocesan Council has reviewed its financial projections and is satisfi1 that adequate fijnding is in place to Cll8ure the Dioce8e can continue its operations and that the fanCIal statetnents for the year ended 318t December 2023 can be signed off as a going concern. Structhrey governance and nagement The Diocese of Connor was established in its present form by Act of the General Synod in 1945 and is regLdated by General Synod of the Church of ITcland and its own dioccsan regulations, authority for both stem from the pr()visions of the Irish Church Act 1869, The Dioc&san Council is a body elected by the Diocesan Synod which meets to consider and regulate the financial and other matters of the Diocese about five times per annum. Day to day work is delegated to the administrative staff with oversight given to the Diocesan f4iiwice Committee. This committee is scheduled to meet five or six times per annum takes a d¢tailed look at all Diocesan financial mattera. Newly elected members will receive Trustee training from the RCB. Principaj risl<s The Diocesan Council in the normal course of its oversight of activities has given due consideration to the principal risks that it faces, in particirfar those related to th¢ Iong terni operational and financial well-being of the Diocese of Connor. Whilst keeping matters under review, the Diocesan Council is satisfied that systems are in place to mit1[te major risks, Investment and financial risks are primarily under the purview of the Diocesan Finance Committee and the trustee bodies to whom the funds hav¢ been entru8ted. The Diocesan Finance Conllnittec had requested the creation of a fornial Risk Register. this was agreed by the Diocesan Council presented at the February 2018 n]eeting and was reviewed in November 2020. A fLllther review occurred during 2022 and was adopted by Diocesan Council at its November 2022 meeting. ASM
Dtocese of Connor Financi411 stotementslor ¢he year ended 31 December 2Q23 Page 5 Report of the Diocesan Council for the year ended 31 December 2023 (cont'd) Reserves policy The Diocesan Council generally rai8es such fLllds from the parishes in its care as are required to meet operational requirements. In addition, capital and revenue reserves are nuintained under desi8nateAI funds which are operationally controlled by the Diocesan Council, but which are under the trustee care of the Representative Church Body and Church of Ireland Trustees. As sucm the Dioccsan Council does not seek to maintain a specific ratio of reSVeS to, for oxample, revenue requirements, but it does seek both to protect its operational integrity and limit the call on parochial resources through careful use of all funds under its control. The level ofunKqtricted reserves at 31 December 2023 were £1,219,729 and the level of r¢8tricted reserves were £3,005,322. lllV&Stment$ All investsnents are held uwTrn trLLSt by either the Church of Ireland Truste&8 or the Representative Church Body, both are bodies corporate with full trust and investment powers. In almost all cases, the capital invested is held as a permanent endowment for diocesan funds and only the income is available for the revenue expenditure by the Dioce8an Council. Both bodies manage their inveslments under professional advisement to protect the long-terni capital and income requirements of the dioceses, parishes, trusts etc, Church of Ireland House Church of Ireland 14ouse has been held by a Declaration of Trust dated November 1994, between Church of freland TruStS and the Joint Committee of the Dioceses of Down and Drotllore and Connor. I£gal advice has shown that Church of Ireland Flouse in Belfast is owned by the Joint Committee on behalf of the two Dioces&8. Church of Ireland House was sold on the 31 July 2023, the fimds of which are now held by the Joint Committee. The Diocesc of Connor's share in the Joint Committee is recognised as a tangible asset in its fllwicial statements. Taxation status The Diocesan Council of Connor has been granled chtable recognition by HMRC. The Diocesan Council is entitled to certain tax exemption8 on income and profits from activities carried on in furtherance of primary objectives. Charities legislation in Northern Ireland will directly impact on the Diocesan Council and is expected to enhance and define charitabIe status. The Diocesan Council is not registered for VAT and all expenditure is recorded inclusive of any VAT incurred. ASM
r 31 Derembtr 21123 Pw6 Report oftbe Dioeesan Counell for the year ended 31 Deeember 2023 (cont'd) Plan8 futur¢ perlods The Dk)c¢san Coun¢%1 intends to Continue with its bask suppoi'v¢ and administrative ne[lOn5 lrt dev¢lopitw the work And wlthe3s of the Church ofireland iii Connor. The Pernianent ComtrAi&sion for the Archdeaoonry of Belfast is ¢urr¢n¢ly r¢viewin8 tho MId.Be1f# Nral <kan¢ry md is anticip4ted to bring forward pmpusals for the Min1 in tht mid-Belfyst during 2024, Oth¥r porish 8roupings in North Belfast ale a160 under revi¢w. The Fiiiance Committee have ¢Ommen¢ed 8atherin8 irtforniatlon to pull tO8ether o regist¢r of Trustees iiit¢rests, tliis is hopcd to bo ¢Omplded durin8 2024, Dlo¢tMA Coun¢ll regponsibility re8pe¢t of th¢ financlol ststements The Diocesan Council 1$ rwpon8ibk for the pr¢ptr&tion of the financial ststements for 4acli finth¢ial year Mthich give ll truc fllir view of the state of affair$ uf th¢ Dioc¢ of th¢ surplvs or deficit of the Diocese for that perH)d. In preparingthoye fancial stat¢menty the Diocesan Council is required lo., at the end of th¢ flnancial year and selKt suitable e¢ceounting poli¢i¢s and tlxft apply the ¢onslendy. make judgoments and ostlmates that tre r¢asonabk and prudent. PT¢pare the fw8n¢j tht•ment& on the goin8 ¢oncorn basls unlo3$ it is inasyroprith to do 40. Diocesan Council Is rtspMsibk for maintsÈnin8 proper a¢¢ouhUng reoords whi¢h disolose willi r¢asonabl¢ accuracy al any iiffle tlie finwicial position of the Diocese and to ab it to ensutr thai ihe rinanciNI st8i¢ments comply wilh the Di0¢¢5an Reguhtiotts 2010 ond Y subsequ¢nt updates. It IS also responsible for Sofeguardin the ets of the Dioc¢se wid Ince for lakin8 reasonab12 Steps for ihe prevei)tion and dettlOn of fraud and other irye8ulariEies. Audlts Th¢ auditors for th¥ fjnaneial yw ended 31 Dewlw 2023 arn ASM (D) Ltd. Statement of dlsdosure to AudltOr8 St) far th¢ members of tht Diocès8n Council are awar¢ therfy is no rolevanl audit infomlatth of which the DIcs¢'5 auditors are unaware and they hav¢ taken all the steps that Ihty ou8ht to have takek) k) make thLynselves 4War¢ of any relevattt ftudit infÉ)rniation and to establish that th¢ Dioc4K's lluditors hre awJTe of that infonnaiion. Mr T Lyttle OB YruJt¢¥ IS May 2024 ASM
I)iocese Df Connor Financial statementslor ihe yeav ended 31 December 2023 Page 7 Report of the independent auditors to the Diocesan Council of the Diocese of Connor Opinion We have audited the fitwlcial statcments of the Diocese of Com]or (the 'Charity') for the year ended 31 December 2023 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparntion is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Finaticial Reporting Standard Applicable in the UK and Republic of Ireland, (United KÉngdom Genernlly Accepted Accounting Practice). In our opinion the financial statement8: give a true and fair view of the state of the Charity's affairs as at 31 December 2023 and of its incoming r&sources and application of resources, for the Ye then endel. have been properly pwared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirement8 of the chltieS Acts (Northern Ireland) 2008 and 2013. Basis of opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs(UK)) and applicable law. Our r¢spon8ibilitics under those standards are furth¢r described in the Auditor's Responsibilities for the audit of the financial statements section of our report. We are indq)¢ndent of the CIMrity in accordance with th¢ ethical requirements that are relevant to our audit of the financial statem¢nts in the UK including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements, We believe that the audit evidence we have obtaincd is sufficiait and appropiiate to provide a basis for our opinion. Collclusions relating to golllg concern In auditing the financial statements, we have concluded that the Trust¢cs' use of the going concern basis of accounting in the prq)aratlOll of th¢ financial statements is appropriate. Based on the work we have perfornied, we have not identified any mat¢rial uncertainties relating to events or conditions that, individually or collectivcly, may cast significant doubt on the Charity's ability to continue as a going conccm for & period of at least twelvc months from when the financial Statements are authorised for issue. Our responsibilities and the respoDsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. We have nothing to report in respect of the following matt'ers in relation to which the ISAS (UK) require us to report to you where: the Trustees, Use of the going concern basis of accounting in the preparntion of the fjjthncial statements is not appropriate. or the Trustecs have not disclosed in the financial statements any identified material uttcertainties that may cast significant doubt about the Chartty's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the datc when the financial statements are autknrised for issu¢. ASM
Diocese of Connor Fipwncial statementsfor theygav ended 311)eceMr 2023 Pagé 8 Report of the independent auditors to the Diocesan Council of the Diocese of Connor (cont'd) Other information The other information comprises thc infornTrtion included in the annual rq)ort, other than the financial statements and our auditor's report th¢reon. The Trustees are responsible for the other information. Our opinion on the fmancial statements does not cover the other infonnation and, except to the extent otherwise explicitly stated in our report, we do not express ally forni of a8surance conclusion thereon. In conn¢otion with our audit of the financial statements, our responsibility is to read the other infoni]ation and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or othenvise appears to be materially misstated. If w¢ identify such nTrterial inconsistenci&4 or apparent nmterial misstatements, we are required to deteLTrine whether there is a material misstatement in the fmancial statements or a material misstatement of the other infornution. If, based on the work we have perfonned, we conclude that there is a n]aterial misstatement of this other information, we are required to report that fact. We have nothing to rwrt in this regard. Matters on whleh we are required to report by exception We have nothing to rq)ort in respect of the following matters in relation to which the Charities Acts (Northern Ireland) 2008 and 2013 requires us to rcport to you if, in our opinion: the infOrntIon given in the Diocesan Council ADnual Report is inconsistent in any mataial respect with the fmancial 8tat¢ment8' or the Charity has not kept adequate accounting records. or the financial statements arc not in aceMent with the accounting records and returns. or we have not rec¢iv¢d all the information and explanations we required for our audit. Respon8lbilities of Trllstees As explained morc fully ill thc Trnstees, responsibilities statement set out on page 6, thc Trustees are responsible for the preparation of the financial statements and for being satisfid that they give a true and fair view, and for 8uch internal control as thc Trustees determine is necessary to enable the preparation of fmancial statements that 1( re free from materid misstatement, whether due to fraud or ermr, In preparing the financial statements, the Truste¢s are responsible for a8ses8inE the Charity's ability to continue a8 a going conccrn, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the Trustees either intend to liquidat¢ th¢ Charity or to cease operations, or have no realistic alternative but to do so. ASM
Dloe&Ye of Connor Findncial rtrtlemeNtsfoY they8aF ended 31 December 2023 Page 9 Report of the independent auditors to the Diocesan Council of the Diocese of Connor (cont'd) Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material n]i8StatemeiiL whether due to fraud or enDr, and to issue an auditor's report that includes our opinion. Reasonabl¢ assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UIC) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered nterial rf, individually or in awegate, they could reasonably be expected to intluence the economic decisions of users taken on the b&8is of these financial statements. Irregularities, including fraud, are instances of non-complianGe with laws and regulations. We d&gign procedures in line with our responsibilities, outlined aknve, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capablc of detecting irregularities, including fraud is detailed below. The objectives of our audit in respect of fraud, are to identify and assess the risks of material misstatement of the financial statements due to fraud. to obtain sufficient appropriate audit evidence regarding thc assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to th08e assessed risks. and to respond appropriately to instances of fraud or suspected fraud identified dwing the audit. However, the primary responsibility for the prevcntion and detection of fraud rests with both management and t]wse Charg with g(wernance of the Charity. Our approach was as foIlows: We obtained an understanding of the legal and regulatory requirollents applicable to the Charity and conside1 that the most significant are the Charities Acts (Northern Ireland) 2008 and 2013, the Charity SORP, and UIC financÉal reporting standards as issued by the Financial Reporting Council, We obtained anullderstanding of how the Charity complie8 with these requirements by discussions with managcment and those Charg with govemance. We assessed the ri8k of material mis8tatcment of the financial statements, including the risk of material n]isstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. We inquired of management and those e]]arged with govcrnan¢e as to any known instances of non. compliance or suspected non-compliance with laws and regulations. Based on this under8tanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and r¢gulations. This included making enquiries of management and those charged with governance and obtaining additional c(XToborative evidence as r¢quired. ASM
I)Io¢e.itt ofci)JYnor
l.'1pe1l &'llllf<menlsfor Ihe
dni16(131 J)¢cffmber 2023
PiigL, 10
Ilcp(Irt of the indLpendenl' audmtors t() tlIL I)ioeesan CounL'iI of the DiocL4L' of
Conx)or (conl'd)
Ii,.YpliinatioJi to whRt vxteiit, tho aiiillt wa% Lfbiihldoro(I ciipRbl¢ deloetln&y 5rrL'guliirll'lcs, inc'liI(Iliig
A.% ptirL of Huclil iii Ii¢Goi'danuc willi 18As (lJtC) we cxcroise i)ro'l'08siI)n&il jLid81'1'iiGiiI 1]d iiiaiiitdLII
pi'ufL448j(hllÉLI %Lepiicisni ilii'ougliuiil tlio uiidlt. We al%<)..
IdcnLify ancl lls&e.88 tlio ri.41is of niuLrial niisstal'einenL of thL financial ,¥ts'iLLmoiit%, wlieLliei' di.16. to
frnLid or Liyoi,, dos IL>n Iinil pL'I'f()rm lludil p1cOdu1,cS I'csi)on41VQ to ilioso I'isl(,%, aiicl i)bt
Dlocese of Connor Flnancial stulementsfor Ihéyear endéd 31 DeeEmber 2023 Page 11 Statement of financial activities for the year ended 31 December 2023 Restricted fiinds Total funds Total fld8 Unrestrleted funds Vlslon Strategy fund 2023 Other 2023 Other 2023 Notes 2023 2022 Income Charitable ac¢ivi¥ies.' Donations Diocesan fidIng Clerical ¢08ts ExteiThal grants Investment inGome Other income Totxl income 11,392 9,120 831,984 7,911 5,223 1,043,557 28,423 837,2117 1,043,557 31,6(11 68,031 138,452 2,147,271 18,590 830,953 868,473 181,253 54,491 119,302 2,073,062 11,735 9,792 55,501 88,420 19,866 10,320 65,782 937,072 47,919 17,169 1,121,780 Expendlture Charitable activtties.. Central Churoh Qosts Clerioal costs Other 008ts Qverhead3.' Staffmg costs Athninistration ¢08ts Other Costs Depreciation Total expenditure 1¥4et income l(expenditure) other recognised gaills/(losse8) Share of gain&(loss&g) in Joint Comtnittee 70,784 18,071 125,635 187.120 1.120,309 4,184 257,904 1,138,380 165,897 351,164 904.539 184.182 io 36,078 li 12 13 165,906 13,330 15,512 161,164 85,097 125,048 5,369 591,168 345,904 33,534 (3,107) 1,328 360,61M 95020 141,888 5,369 1,343,368 2,165J62 (221.589) (18,091) 348,932 89,921 145,943 3,976 2,028,657 44,405 230,826 (142,406) 151,966 151,966 (14,167) Gain81(losses) on inveslJnents Net movement in funds 11,053 (131,353) 114,098 5,978 503,848 59,620 (161,969) 272,000 76,651 210,526 (373,206) (262,859) Trdn8fers between funds (386,098) Total funds at l January 2023 Total fund8 al 31 December 2023 328,238 790,996 2,895,291 4,014,525 4,277,384 310,983 908,746 3,005,322 4,225,051 4,014,525 ASM
DI08 of Cottnor ttded31 DÈceMthIU23 Balance sheet at 31 December 2023 Pop 12 Not 2013 2022 Non eurrnnt 8S5ets .Sharo in Joinl Cornmlltse ossets Flx¢d ass¢is InYe5ttn¢nt8 899.763 14,714 2A21A16 3J35989 847,797 16.526 2,454,765 3J19,088 14 Debtots 16 17 404063 67,77fj 972,639 208, IS7 823,259 I,Q31,416 Créditors.. amoun1 falliKdUC TrlthlH yt4r 18 83,8Y7 (235.979 eurrmt asg¢ts Tot41 •isets 104 eurrent lknbllltles 4221051 4,114,525 Cr[tors. amounls fallln% du¢ after ihan one (100,fKJO) Toil Aet asse 4J2 4 014525 ReJ•ry¢s RèStrirt¢d funds Untestricied funds 21 3.005J22 1,21J.729 2,895,291 ,119.234 Ywal res¢rve& 4.22&051 4,014.525 Th? foregoillg balance shttt apprnvEd by the Dk)¢wan Council on I S May 2024. SizHa(utt: aer4ral Honornry Seer¢¢Ary R¢v Dr AJ4ll Mccatsn Signatur&. Lay Hoaorary Secre1 Mr T Lyiue OBE ASM
Diocesé of CoHKor FinanclalsthtemeAtsf¢pr theyear ended 31 December 2023 Page 13 Notes to the financial statements for the year ended 31 December 2023 Statement of accounting policies The financial statements are prepared in accordance with Accoullting and Reporting by Charities: Statement of Recommended Practice applicable to charities prcparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (¢ffective January 2015). The prillcipal accounting policies adopted as folIows: Incomlng resource8 Income is recognised when the Charity is legally entitled to it after any perfomrance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Resources expended All items of expenditure are recognised on an aCcnlS basis a8 a liability is incurred. Expenditure includes ally VAT which cannot be llY recovered and is reported a& part of the expenditure to which it relates, All costs aTe allocated between the expenditure c8t¢gorie8 of the Statement of financial activities on a basis designed to reflect th¢ usc of the resource. Fund accounting Unrestricted funds are fillS that are available for u8¢ at the Trustees, discreiion in furtherance of the objectives of the Diocese in accordance with the regulations that govern the Diocesan Council. Restricted funds are th0 donated for use in a particular area or for specific puryoses, the use of whiGh is restricted by the funder to that area or purpose. Investments All income from investinents is accounted for on an accrnal's basis. Deposit interest rec¢ivable, expenses and intcrcst payable are accounted for on an accrual's basis. Listed investments COM7s¢ those quoted on a Stock Exchange. All investments have been valued at market value. Thc llwkct value disclosed in Note 15 is based on the middle market ICeS ruling at the close of business on 31 December 2023. Any realised profits or IossG8, arising on fixed asset investnThts are taken directly to the capital reserve. Profits or losses ar¢ calculated on the average cost basis. Depreciatlon of tanglble flxed Assetg Tangtble fixed assets arc Stated at ¢08t less depreciation. Depreciation is provided at rates calculated to wrAte off the cost less estimal'ed residual value of each asset over its expeoted useful life as follows: Computer equipment Equipment 25 /0 reducing balance 25 % reducing balance Pension costs The Charity operates a defined contribution pension scheme. Contributions payable to this scheme are clwgcd to the expenditure in the pcriod to which they relate. These contributions are invested separately from the Charity's assets. ASM
Diocese of Connor Fiptanclal sla¢ementsfor theyeav ended 31 December 2023 Page 14 Notes to the financial statements for the year ended 31 December 2023 (cont'd) Statement of Rccountillg pollcies (cont'd) Gojng concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate tt80wces to continue in operational existence for the foreseeable tllre. Thus, the Trustees continue to adopt the going concern basis of accounting in preping the financial statements, Debtor8 Trade and other debtors are recognised at the settlement amount due. Interest receivable Interest on fund8 held on deposit is included when receivable and the amount can be measured reliably. this is nonnally upon notification of the intert paid or payable by the bank. Credltors ind provislons Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settlc the obligation can bc measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Financial instruments The Charity only has financial assets and financial liabilities of a l(ind that qualify as basic financial instrLllnent8. Basic financial instrnments are initially recognised at transaction value and subsequently m¢asured al their settlement value with the exception of bank loans whioh are subsequcntly m¢asured at amortised c08t using the cffective interest method. The financial statements are prepared in sterling, with mollctary amounts rounded to the iearest pound. Charitable actlvities - Donations Unrestricted llds Vision strategy flliid 2023 Restrlcted funds Other 2023 Other 2023 Total 2023 Project 8pe¢ific Fund 8p¢cifAC Sundry 8,816 2,576 550 9,366 10,487 8,570 28,423 7,911 8,570 9,120 11,392 7,911 ASM
Dxocese of Connor Financialstalementsfor Iheyear ended 31 DeceJAber 2023 Pagc IS Notes to the financial statements for the year ended 31 December 2023 (cont'd) Charltable activities- DlocesAn funding Unrestricted funds Vision sts'ategy fund 2023 Restrlcted funds Other 2023 Other 2023 Total 2023 General aessMellt Cover duty Registy fe8S Rural Dean8 fees Removal grants Safeguarding Sundry 739,779 58,319 99 18,568 9,929 4,690 600 831,984 739,779 58J19 99 18,568 13,609 4,690 2,143 837,207 3,680 1,543 5,223 Charitable activitles- Clerical costs Unrestrleted funds Vlslon stralegy fund 2023 Restrlcted funds Other 2023 Other 2023 Total 2023 Clergy Pension Fund Stipen(ts LA)GOmOtory Office Allowance Clcrical Bmployers NIC Housing 713,198 247,312 35,634 4,177 27,604 15,632 1,043,557 713,198 247J12 35,634 4,177 27,604 15,632 1,043,557 Charltable activitles- £xternAI grants Unre8trieted funds Vislon strategy fund 2023 Restricted funds Other 2023 Other 2023 Total 2023 CIYD Funding RCB Sundry Grants 8,735 19,866 8,735 19,866 3,000 31,601 3,000 11,735 19,866 ASM
Dlocese of Connor FinaRelalstatemenlsfor the ye¢ir ended 31 DecembeF 2023 Page 16 Notes to the financial statements for the year ended 31 December 2023 (cont'd) Charitable activities- Investment income Unrestrictcd fullds Visio strategy fulld 2023 Re5trleted funds Odier 2023 Other 2023 Total 21J23 Dividends received Bank int¢rest Rents received 9,770 22 5,9fv1 38,539 9,380 54,273 9,402 4,356 68,031 4,356 10,320 9,792 47,919 ChArlt&ble activitles - Other Ineome Unrestrict¢d funds Vlslon strRtegy fwid 2023 Restricted funds Other 2023 Other 2023 Total 2023 Staff cost reoouped OLM cour88 fre8 Diocesan reader fees Supply of res01CeS 55,501 60,747 16,929 240 133,177 240 1,448 3,587 138,452 1,448 3,587 65,782 55,501 17,169 ChAritable - Centra] Church costs Unreytricted funds Vision 8trategy fund 2023 Restrieted funds Other 2023 Other 2023 Total 2023 Episcopy Safeguarding l)rioritie8 fLmding Clergy & Ministry protection fund 146,152 28,428 146,152 28,428 70,784 12,$40 257,904 70,784 12,540 187,120 70,784 ASM
Diocese of Connor naAeiiel statenientsfor the year ended 31 Deeember 2023 Page17 Notes to the financial statements for the year ended 31 December 2023 (cont'd) Charitable- Clerical costs Unrestrlcted funds Vl8lon 8trat¢gy fund 2023 Restricted funds Other 2023 Other 2023 Total 2023 Curate a8SiStallt grants Clerical Situations Bishops Ministy grant Clergy Pension Fund Stipend tL)COmOtory Offioe allowance Clerioal employers NIC Removal grants Housing costs 10.730 10,730 7,246 3,000 712,788 293,309 38,434 4048 30,264 12,861 2S,200 1,138,380 7,246 3,000 712,788 293,309 38,434 4,548 30,264 5,520 25,200 1,120,309 7,341 18.071 10. Charitable - Other costs Unrestricted fund8 Visioll Strategy fund 2023 RestrActed funds Other 2023 Other 2023 Total 2023 CITI foundation course CITI lay reader courso CITI CME course Ordination expense8 Grant to support Ministy Cover duty Rural Deans fe¢8 Registry fee8 Glebe's secretary knhdea¢ons DIrtOr of Ordilland8 Diocesan ajrate Rural Deat]8 Registrar Warden of r¢ader8 Curute's childrn's &llowance Resources Donations of 8¢rviG Catetinglentertaininglsubsistence Accomm<Klationhrenue Travel Miscellaneou8 expense8 Council for Missioii grants Grant to university Ghaplaincy Dioce8e of Yei support 1,314 2,896 3J19 1,314 2,896 3,319 1,258 3,082 58,332 20,S07 594 1258 3,082 58,332 20,507 594 99 22,035 1,079 2,542 3,773 1,695 1,052 2,147 22,035 1,079 2,542 3,773 1,695 1,052 2,147 9,194 480 4,276 9,083 4,288 503 8,100 4,190 9,194 480 4.276 9,083 3,186 503 8,100 1,102 4,190 60 125,635 36,078 4,184 165,897 ASM
Dlocese of Connor FIn(CIal slatementsfor théyéay ended 31 December 2023 Page 18 Notes to the financial statements for the year ended 31 December 2023 (cont'd) 11. Overheads -Stsff costs Unrestrlcted fwids Vlsion strategy fund 2023 Restricted fiinds Other 2023 Other 2023 Totsl 2023 Wages alld salaTie8 Employers National In8urance Employer's pellsion cost Other staff costs 155,622 6,975 127,016 7,242 27,369 (461) 161,166 30,415 3.119 313,053 17,336 27,369 2,846 360,604 3,307 165,904 33,534 There were no employees receiving employee benefits (excluding employer pension costs) of more thall £60,000. Senior majgement of the Diocese consists of the Bishop, Archdeacons, Parish Development Officer, Trnstees and the Finance and Admtniskntion Manager. The totsl employee benefit of the senior management in respect of those paid by the Dioc&8c was £96,182 (2022: £96,969). There was an average of 9 employees in the period, Senior Management pay is set by the Diocesan Council and rcviewed annually. 12. Overheads - Admlnlstration ch¥drges Unrestricted fund8 Vision gtrAtegy lld 2023 Restrleted funds Other 2023 Other 2023 Tot 2023 Stationery and printing Tel¢phone COI house co8t8 Rent and rates Insurances H¢at alld light Payroll fees Compliance Costs Maint¢nallce and repairs Sundry adinIstration charEes 248 2,471 3,160 548 60,000 669 3,427 (59) 3,060 13,838 126 328 85,097 3,408 3,019 60,0110 9,805 3,427 (59) 3,060 13,838 126 (1,304) 95,320 9,136 1,475 13,330 (3,107) (3,107) ASM
Diocese of Connor Fine11 s¢ateméntsfor lheyear ended 31 December 2023 Page 19 Notes to the financial statements for the year ended 31 Decernber 2023 (cont'd) 13. Overheads - Other costs Unrestricted funds Vfislon 8tratsgy fund 2023 Restricted fid$ Other 2023 Other 2023 Total 2023 Travel, accon]modation And subsistence expenses Advertising and marketing Magazine costs Web c08ts Legal fees AcGountancylAudit fees HR expenses Diocesan surveyor Licence fees Bank charg&8 and fees Bank interest Leasing c08ts Bad debt provided Venue hire Catering expenses Misc Synod expenses Ground rent Valuation 5,887 669 8,385 545 704 893 7,484 669 8J85 545 11,136 4,200 674 27,949 12,599 593 31 1,332 61,269 1,112 2,606 931 159 240 141,888 11,136 4,200 674 27,949 12,599 502 37 54 31 1,332 61,269 762 2,606 916 159 240 125,048 350 15 15,512 1,328 14. Tangible fixed assets Offlee equlpment Computer SoftwAre Total Cost At l January 2023 Additions At 31 December 2023 15,000 3,552 18,552 18,878 33,878 3,552 37,430 18,878 Depreciation At l Janiwy 2023 Charge for the year Adjustment for previous period At 31 Ilecember 2023 4,633 2,759 1,233 8,625 12,719 1,927 (551) 14,095 17,352 4,868 682 22,720 Net book value At 31 December 2023 At 31 December 2022 9,927 10,367 4,783 6,159 14,710 lo26 ASM
Dioeese of Connor Financlol s¢atenwntsfor theyeap ended 31 December 2023 Page 20 Notes to the financial statements for the year ended 31 December 2023 (cont'd) 15. Investments Opening Fund Title of Trust RCB Value CIT Valiie Total value 2023 Total value 2022 2023 2023 Belfast Additional a¢rgy Fund Sundry Smi¢h JH Stewart JA Drew Memorial Sundry Rev G C Stevenson Sundry Sundry Maintenance Episcopal Connor See Houge Expenses Sundry ParAsh Support Fund Sundry St Andrews Parish Clerical Income Augmentation Sundry Sundry Sundry Hospttal Chaplains Residence Lord Molyneaux Sundry Rolston Estate 78,893 6,109 11,911 149,982 5,127 84,020 6,109 11,911 213,274 26,692 17,933 84,897 131,104 111,419 94,665 144022 1,609 77,004 40,811 79,014 5,931 11,564 206,101 25,509 17,139 81,159 126,164 106,485 91,907 144,321 1,538 74,104 39,622 63292 26,692 17933 83,435 73129 111,419 Church extension Olination bursary Endowment Episcopal support 1,462 57,175 94,665 144,322 1,609 43J02 33,702 40,811 3,801 856,875 56,831 1,088 79 93,620 57,817 4,889 856,9SI 150,450 57,817 4,730 831,978 145,391 55,256 Stipend Superanlluatioll General loo 6,231 243J38 loo 6,231 243,338 55,967 2,421,516 114,000 5,955 232,561 54,336 2,454,765 Youth Dioce8an generation General Total 55,S167 1,592,505 829,011 The investments held by the Repres¢nlative Church Body (RCB) and the Church of Ireland Truste¢s (CIT) are either listed on a r¢cogni8ed Stock Exchange or illvested in the RCB. unit tru8t8 (N.I.). The market value is the quoted mid-prioe on the 31 December 2023. AII CIT investments were folded into the new crr Unit Trust on the ISI July 2012, the book cost for all holdings was Uplift to nwket value at that date. ASM
Diocesé of Connor Financlql statementsfor theyear ended 31 December 2023 Page 21 Notes to the financial statements for the year ended 31 December 2023 (cont'd) 16. Debtor8 2023 2022 Other debtors Accrned Incon]e Provision for Doubtful Debts 575,622 142,861 (313,620) 404,863 440,830 19,679 {252,352) 208,157 17. CAsh and bank balnllces 2023 2022 Balan¢e8 held in Northern Ireland Balan¢e8 held in Dublin by RCB 249J81 318J95 567,770 526,363 296,896 823,259 18. Creditors: amounts falling due within one year 2023 2022 Bank overdraft Otber creditors Accrualg 2,627 49J20 31,630 83577 4,800 176,688 54,491 235,979 19. Creditors: amounts falllng due After one year 2023 2022 Representative Church Body Grant loo,000 20. Reserves Capital res¢rve Revenue Re8erve Total Net inoomel(expeftditure) Share of sutplusl{defi¢it) in Joint Committee Increasel(decrease) iti market value of InVlMentS (18,091) 151,966 (18,091) 151,966 76,651 210,526 76,651 76,651 133,875 At l January 2023 At 31 Deeember 2023 2,454,767 2,421,518 1,559,759 1,803,532 4,014,525 4,225,051 ASM
Diocese of COK)v Financial staleméntsfor theyear ended 31 Deeember 2023 Page 22 Notes to the financial statements for the year ended 31 December 2023 (cont'd) 21. Analysis of net assets between fullds Jolnt Commlttee Fixed assets Current assets Investment8 Total Unrestricted ftmds Restricted funds 249,763 650,000 899,763 14,710 494,584 1,926,932 2,421,516 460,672 1,219,729 428,390 3,005,322 889,062 4,225,OSI 14,710 The income of each of the ut)restricted fimds is available to the Diocesan Council to be used at its discretion in accordance with the diocesan regulationg. The assets of those fLmds. however, norn]ally consist ofgifts and bequests specific to the fund and must be regarded as unavailable for revenue puryoses. 22. Related party transactions The Diocese has related parties of the Church of Ireland Trustec8 (CIT) and the various Trnst¢e8. No transactions occurred with related parties in 2023 or 2022. 23. Trustees remuneration alld benefits Expenses totalling £4,125 (2022., £5,027) for prof&ssional services were paid to seven of the Trustees during tILe year which had bew incurred in carrying out their roles within the Diocese. These roles include Diocesan Registrar, Dioc&san Director of Ordinands, Wthen of Readers and Rurdl Deans. The Dioce8e pays a Curate Children's Allowance grant, which is payable to curates who have children aged el¢v¢n under, after an application has beenmade. During the year, paymcnt totalling £678 (2022: £130) was made in respect of this grant to one of the Trustees. 24. Joint cOnttee The Joint ComTnittec assets are noted in thes¢ financial Statements as an investm¢nt of the Diocese. The Joint Committ'ee was fornied by an act of General Synod in 1945 and has responsibility for the assets that are jointly owned by the Diocese of Down and Dromore and the Diocese of Connor at the time of their separdtion and continues with this today. 2023 2022 Balance at l January 2023 GainlOo8s) ill the year Balance at 31 December 2023 847,797 51,966 899,703 815,580 32,217 847,797 ASM