Magheralin/Parish of Magheralin/Holy & Undivided Trinity and St Saviours/Down & Dromore/Church of Ireland
Latest income
£499k
Latest spending
—
Accounts read
FY2024
Financial health, per FY2024 accounts
The accounts state that the charity recorded a surplus of £48,673 for the year ended 31 December 2024, reversing a deficit from the previous year. The trustees consider the financial position to be stable, with total net assets of £1,087,085 and unrestricted funds of £607,113.
What the accounts disclose
Payments to trustees: The incumbent receives a stipend in accordance with figures approved by the General Synod of the Church of Ireland
“Pay and Remuneration The incumbent receives a stipend in accordance with figures approved by the General Synod of the Church of Ireland”
Per FY2024 accounts as filed with CCNI.
Related-party transaction: Loan to Moneyreagh Parish Church
“During year ended 31 December 2023 the church advanced a loan to Moneyreagh Parish Church £170,488. The loan is repayable and the balance outstanding at 31 December 2024 was £ 153,559.” — page 17
Per FY2024 accounts as filed with CCNI.
Employees paid over £60,000: 0
Per FY2024 accounts as filed with CCNI.
Reserves policy: sufficient size to meet the running costs for an agreed period ahead and facilitate medium and long term planning including provision for reinstatement and maintenance of all assets (held: £607k)
“Magheralin Parish's policy is to create and retain dedicated reserves in keeping with prudent best practice planning. These reserves will need to be of sufficient size to meet the running costs for an agreed period ahead and facilitate medium and long term planning including provision for reinstatement and maintenance of all assets.” — page 7
Per FY2024 accounts as filed with CCNI.
Independent examiner: HM Chartered Accountants
Per FY2024 accounts as filed with CCNI.