Diocese of Connor FhtaAcial sta¢enwntsfor theY￿r 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 Vell￿able E P Dundas Honorary Se¢TetArle8 of the Diocesan Synod CouDdl Arckde*e•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 Archd￿cOllry 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[J￿8 2023) T Flatiigan (unrtlJune 2023) G Edgar Mrs C L H Chcrry MBE A W Macartney T G Stevenson (un¢ilJune 2023) R J Patt￿ll 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 ThOMp￿ll 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 Edw￿18 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 Di0￿san Council, who th¢ Tn￿ee9 for charitable purposes, pr￿entS 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 DiOc￿e 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¢fl￿ts 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 fOrn￿l 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 prOgraD￿￿e 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 cOll￿t 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￿¢S￿ll 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 fu￿nCIal well-being of thc Dioc¢se of Connor. Whilst keq)ing ll￿tters under revi￿, the Diocesan Council is satisfied that systen)s are inpla¢¢ to mitig