Diocese of Connor FhtaAcial sta¢enwntsfor theYr ended 31 December 2023 Page I Diocesan information as at 31 December 2023 The Diocesall CouD¢ll for Connor EI-offielo The Bishop Th¢ Archdeacon of Belfast The Archdeacon of ConnoT Th¥ Chde8con of Datriada The Right Revttend G T W Davison The Vencrnble B G Forde The Venerdble S R McBride The Vellable E P Dundas Honorary Se¢TetArle8 of the Diocesan Synod CouDdl Arckdee•llry of Belfast Tbe Rev Canon J C Carson N W Lyons Archdeaconry of Connor Archdeaeonry of Dxlriada The Rev W J Boyd (from June 2023) The Rcv T A G McCaDn Mr S R Addis (fromJune 2023} T Lyttle OBE ClericAI Dlocesan Councll Archdeaeonry of Belfagt Th¢R¢vPBJon The Rev Canon T K D Graham (until Sept2023) The Very R¢v S B Forde The Rev J D Catnpbell-smyth (untilJt4ne 2023 andfvm Sepi 2023) (from June 2023) The Rev Canon W ITaggart Th¢ RCY A D G McAii8ter (unlllJune 2023) (untilJuRie 2(P23) Thc RCVT S Johrtston The Very Rev W S WrigbL of The Rev N Eryin¢ ffrom June 2023) ContLor The Rev C B Lacey (fvmJuTie 2023 Dec 2023) ffrom Jtthe 2023) The Rev P Blair ArchdcOllry of Conllor The Rev N J Dark The Rey Cannon D P Kerr Ar¢hdeaeollry of Dalriada The Rev A P Campbell The Rei. Cannon R M Mcconndl The Rev D C Cl)risti¢ The Rev D Lockhart Lay Diocesan Council Arcbdeatonry of Bdf4St Ar¢hdeacomry of Connor Mrs J W¢ir MRF. H RJTotten MBE Dr K F Dunrn (unti[J8 2023) T Flatiigan (unrtlJune 2023) G Edgar Mrs C L H Chcrry MBE A W Macartney T G Stevenson (un¢ilJune 2023) R J Pattll J Nv.11 A McIntosh (uniUJtsne 202J) Jwwalla Mr8 A Miskirnmin (uAtilJune 2023) J A Williams (fromJune 2023) G E M¢Gaughey (from Jiure 2f123) J R Martin ffrom June 2023) Arcbdtaeonry of DAlriad J Richardson NRBolt V H Knott (uyJlilJune 2023) R G Reade (uAtil June 2023) Ars N Nixon (untilJune 2023) Dr A J Campbtsll S R Simp80n (from June 2023) K McGall (from June 2023) J A ThOMpll lfvm June 2023) G E Cinnamon (from Jwje 2023) Co-opted members Thc Rev A E Adams Dr J S Brown Mr J Brown (unlllJune 2023) ASM
Dioeeye of Connor FinaRciulslalementsfor theyear ended31 December2023 Page 2 Diocesan information as at 31 December 2023 (cont'd) Registered offiee Connor Diocesan Office Utiit I Channel Wharf 21 Old Channel Road Belfast BT3 9DE Auditors ASM (D) Ltd 79 Cunninghams Lane DLmgannon Co Tyrone Bfii 6 BX Solicitor5 Edw18 SL Co 28 Hill Strcet Belfast BTI 2LA Silkiti Nl LLP 220 OrnAeau Road Belfast BT7 2FY University Road Be]fast BT7 IND ASM
Diocese olConAor Flnancialslalementsfor ¢heye4T ended 31 Deeember 2023 Page 3 Report of the Diocesan Council for the yeydr ended 31 December 2023 The Di0san Council, who th¢ Tnee9 for charitable purposes, prentS its report and auditcd allnual fwancial statements for the Diocese for th¢ y¢ar ended 31 December 2023. Th¢ Council bas adoptd the provisions of the Chariti&8 Acts (Northern Ireland) 2(K18 & 2013 and Awounting and Reporting by Charities: Statcmcnt of RecommendeAI Practice applicable to preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective January 2015}. Objectives and activities Th¢ obj¢ctives and a¢tiviti¢s of the Dioeesan Council, which are unchangcd fix)m last year, are principally to manag¢ c£rtain affairs in relation to the cur&q in its areA of operatiois to assist with the strengthening and encouragement of thos¢ cuffts and otbcr supporting activiti which include financial and administration scrvices to achieve th&se objectiv. The Trnstees are aware of the Charity Conunission's 8uidance on public benefit in The Advancement of Religion for th¢ Public Bcnefit and bave had regard to it in their administrntion of the Diocese. We believe that by promoting the woth of the Church of Jrelalld in the DiOce of Connor we h¢lp to promote the whole mission of the Church Ipastoral, evangelistic, social aad ecumen1) more effectively, both in the Dioc¢s¢ as a wholc and in its individuaj parishes, and that this provides a benefit to the public by.. -Providing facilities for public worship, pastoral care and spirttual, moral and intellectual dev¢lopm¢nt, both for our mfflnbcrs and for anyone who wish&8 to b¢n¢fit from what the Church off¢rs' and -Promoting Christian values, and servi¢¢ by mcmbers of the Church in and to their wmmunities, to the benefit of individua18 and socidy as a whole. Achievements and perforniance In the y¢ar ulld¢r review, the tinancial position of the Diocese decreased, this is mainly due to the prudence in providing for bad debt. Although the Fair Slwre income 18 Still th¢ largcst Strea of income, this is being very quickly caugllt up by the clergy pension fimd and overall other income as a total supersedes the Fair Sharc. Inv&stment income has increased by lo./• ovcr the previous year mainly due to returns on investments at the RCB having a high¢r dividend this year, bank inter¢st also so shows a significant gain as int¢r¢st Trtes hav¢ Grept up during 2023. Thevalue of investments hdd withina&sets saw a nall drop this year. this r¢flts the sale ofan investment property. Thcrc has been a net gain on inv¢stments heliL this is bttause stock markets have recovered during the year. A review of the invcstmmts was also earried out by the Finance Committee, but no significant changes were reLomm¢nded to Dioces¢ Council. Overall, the Diocesan Funds hav¢ increasal fir>m £4,014,525 in 2022 to £4,225,05 l in 2023. A review of the parish banding sy8ten] was caTried out in 2023 with a report going to Diocesan Council at its first meeting in 2024. Finanei&l revieiy The financial statements are presented in tb¢ standard fOrnl requir&1 by Statemcnt of Reconllnended Practice 'Accounting and Rq)orting by Clwities, as issued in March 2015. The Statement of Financial Activitics (SOFA) show8 gross income frorn all sourc&5. ASM
Diocese of Connor Finaneiolstalemerttsfor theyear ended 31 Decenther 2023 Page 4 Report of the Diocesan Council for the year ended 31 December 2023 (cont'd) Results During 2023, the Di(Kese had nct expa)diture of £18,901 (2022." nd income £44,405). Expenditure for the Diocesan Developllient prOgraDe decreased to £230,826 (2022: £263.941). This year the Diocesan Courjcil has again includ&1 a significant provision for doubtful debts. Th¢ Council would be hopefid to cOllt all moni&s due, but prudence suggests that provision should be mad¢ in recogrition that there may b¢ difficulties in collexting certain itans. The provision rnade for debtors in 2023 is £313,620 (2022., £252,352). Our creditors this year fell significantly from £335,979 in 2022 to £83,577 in 2023 as we repaid loans funded to us by the RCB. This is reflectcd in th¢ fall in our bank balances by th¢ end of the y&gr, 2023 £567,776 (2022." £823259). Going concern The Dioce6an Council has ffviewed its financial proj4xtions and is satisfied that adequate fiu]ding is in pla¢¢ to eDsure the Diocese can continue its operations and that th¢ fuLancial stat¢ments for th¢ year end¢d 31 st Drfember 2023 Can be signed off a8 a going conccrn. Structurej governance and manvdgement The Diocese of Connor was establish in it8 present fomi by Act of the G¢neral Synod in 1945 alld is regulated by General Synod of tEL¢ Church of IrdaThJ and Ats own dioc¢san regulation8, authority for both stcln from the provisions of the Irish Church Act 1869. Thc Dioc&8an Council is a Ixydy elected by th¢ Di¢Sll Synod which m¢¢ts to wnsider and regulate th¢ financial and oth¢r matters of the Diocese about five tim&s per annum. Day to day work is delegat¢d to the administrative staff with ovcrsight given to the Diocw Finance Con]mitte¢. This committee is schcxluled to meet five or six times per annum and thkes a dctailcd look at all Diocesan fmanGiaI matters. Newly c1cct members will r¢ceive TDJStc¢ training from the RCB. Principal risks The Diocesan Council in thc nomal cours¢ of its oTRrsight of activiti&8 has givcn due consideration to the principal risks that it faces. in particular those related to the long tenn operntional and funCIal well-being of thc Dioc¢se of Connor. Whilst keq)ing lltters under revi, the Diocesan Council is satisfied that systen)s are inpla¢¢ to mitig<lte rllajor risks. Investment and financial risks are primarily under the purvi¢w of the Dioc&8an Finance Con]mitte¢ and the trustcc bodies to whom the fjunds havc been ¢ntrust¢(L The Diocesan Financ¢ Committee had rqu&st¢d the creation of a fornial Risk Register, this was agree41 by the Dioce&2n Council presented at the F¢bnwy 2018 mecting and w&s reviewed in November 2020. A firther r¢vicw occurred during 2022 and was adopt by Diocesan Council at its November 2022 meeting. ASM
Dioeese of Connor Flnancial slatementsfor theyear ended 311)eeember 2023 Pog8 5 Report of the Diocesan Council for the year ended 31 December 2023 (coDt'd) Reseryes policy The Di09a Council generally raig¢s such funds from the parishes in its care as are required to meet operational rwuirements. In additio capital and revenue r&8erves ar¢ maintaineLI Und d&qignat¢d funds which are operdtionally controlled by th¢ Diocesan Council, but which are Und the trustee car¢ of the RreSelltatiVe Church Body and Church of Lreland Trust¢. As suclL the Diocesan Council do¢s not seek to nMintain a Splfie ratio of rcsffv¢s to, for exampl4 revenue r¢quiremcnts, but it docs seek both to protcct its operational integrity and lin]it th¢ call oll parochial resources through careful use of all funds Uler its control. The lcvcl ofunrestricted r¢s¢rv&8 at 31 Decembcr2023 were £1219.729 and the l¢vel ofregtrithd rcserves were £3,005,322. InYestment$ All investni¢nts are held w)on trust bv either the Church of Ireland TrustK8 or the Represcntativ¢ Church Body, both are bodies coryx)rat¢ with full trL¢ and inv&stment powers. In almost all case8, the capital invested is heId as a p¢rmanent endowmcnt for di(Kew funds and only the income is available for th¢ revenue expenditure by the Dioc&8an CA)unciJ. Both bodtes manag¢ their investments under professional advisement to protect the long-terni capital and income requirements of the dioc&sas, parishes, tnjsts ¢tc. Church of Ireland House Church of Ireland House has been held by a DeGlarntion of Trust dat November 1994, b&w¢en Church of [rela Trust and the .Tnint cmMIttee of the Dio¢eseB of Down tmd Dromorc and CoLlliur. Legal advice h&s shown that Church of Irelatkd Hous¢ An Belfast is owncd by the Joint Committee on b¢half of the two Dioce8&8. Church of Ireland House sold on the 31 JUIY 2023, the fidS of which are now held by the Joint Con]mittee. The Diocese of Connor's share in the Joint Committe£ is recolS¢d as a tangiblc asset in its fn¢la1 statements. Taxation status Th¢ Diocesan Council of Connor I5 been granted Chitable recognition by HNIRC. The Diocesan Council is cntAtlcd to certain tsx excmptions on income and profits from activities carried oll in firtherance of primary objectives. CJMriti¢s legislation in Northern Ir¢lalld will directly illwact on the Dioccsan Council and is expected to enhance and define charitabl¢ status. Th¢ Diocesall Council is not regIsted for VAT and all eAp¢nditure is recorded inclusive of any VAT incurred. .ASM
Dlot4tfe of Cottnor rended31 Dff¢nthr 2023 P#ge 6 Report of the DioeesaD Councll for the year ended 31 Deeember 2023 (cont'd) Platt8 for perlod8 DioCen Coun¢ll intends to continue with its basic sUNti¥¢ and administrnti¥e funcrions in developing the work and wilness of the Church ofireland m Cfmnor. The Pernianent Commi&¥ion for tho Ar¢hthaoonry of Belf&r is ¢urr•ntty r¢viewin8 th¢ Mid.BBlfait nwal (kanery and Is antl¢Èpated trj brins ft)rward propo13 for the mini in the mid-Belfast area during 2024. her parish groupings in North BeEf&st tre also und¢r rnvKw. Committee have COmm¢¢d gathering infmation to pull tO8ts a registhr Of Trustees iikterests. this is hyd ¢OmrA¢led during 2024. Dio¢MxM Ctsv¢dl regponxbjlity l reswi of th¢ Ilnxaelxl •thtemeAts The Diiew Cojncil is r&8p)nsibk for tkn prepthtion of tkn fftnan¢l41 thtsments for each financial year which give a trtse rf1 f&ir yiew of the stale of affairs of th¢ Diocese as at the end of the flnanci81 year and of th¢ Su13 ordefKit oftkn Dioccse for thatperI In pry¥ingthose fala1 statem¢nts, theDioco Council is required to.. selwt smilftble acciMmtlnÈ policies and apply consiAendy. mthjud8em¢nts and estimates are re&80llabk alld prudEnL prepaK the fman¢ial &ements On th¢ going nCern b18 it ps inaEIPIKIPTiate to do w. The Diocesan Council i# resp(msible fty nMithtsiniD8 records which disclrAe wtth r¢ason&bk accurncy al any time the finaucial position of the Dioces¢ and to enable it to ensute thal the finaftciol st8l¢inents comply with the Diomsan Regulations 2010 and atty swbsquent updattts. li is also resw)sible for safestsanling the assets of th DI0e and hence fix iakin8 rnsonbl• for tIK prev¢n¢ion and dOn of fra# and oth¢r iryularilie5. Audlto Tr auditors for the financi ywended 31 December2tr23 arc ASM ID) Ltd. Ststemmt of dkdosur¢ t• audiloT% SD far os the Mernb vf tk Dio¢¢son Council aTr aware is no Teleyant audit iJthrn?atitffl of whic the Diocese's auditors are unaw they hav¢ taken a]1 the epS thty ou8hl to have taken k) make themselves aware of any relcv8tt1 audrt infornialion and to eslablish thai the Dioces¢'$ kuditors IT¢ aW8re of that infornialion. Mr T Lyttle OBE Trustee IS MAY 2024 ASM