UNITED PARISH OF RATHMINES WITH HAROLD’S CROSS

RECEIPTS AND PAYMENTS ACCOUNT YEAR ENDED 31 DECEMBER 2017

UNITED PARISH OF RATHMINES WITH HAROLD’S CROSS

CONTENTS
YEAR ENDED 31 DECEMBER 2017

1. Report of the Auditors
2. Receipts
3. Payments
4. Notes to the receipts and payments account

 

UNITED PARISH OF RATHMINES WITH HAROLD’S CROSS

Independent Auditors’ Report to the Parishioners

1. Report on the audit of the financial statements

We have audited the financial statements of the United Parish of Rathmines with Harold’s Cross (“the parish”) for the year ended 31 December 2017 which comprise the Receipts and Payments Account (“the financial statements”) and notes to the financial statements, including the summary of significant accounting policies set out on page 8. The current financial reporting framework to be applied in the preparation of financial statements is Irish law and Financial Reporting Standard 102 applicable in the Republic of Ireland and the United Kingdom which requires financial statements to be produced on an accruals basis. For clearer understanding of the financial affairs of the parish the Select Vestry has chosen to prepare the financial statements on a receipts and payments basis.

Opinions and conclusions arising from our audit

In our opinion the financial statements give a true and fair view of the financial position of the parish as at 31 December 2017 and of its result for the year then ended and have been properly prepared.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (Ireland) ISAs (Ireland) and applicable law. Our responsibilities under those standards are further described below (in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report). We are independent of the parish in accordance with ethical requirements that are relevant to our audit of the financial statements in Ireland, including the Ethical Standard for Auditors (Ireland) issued by the Irish Auditing & Accounting Supervisory Authority (IAASA), and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence that we have obtained is sufficient and appropriate to provide a basis for our opinion.

In our opinion, the accounting records of the parish were sufficient to permit the financial statements to be readily and properly audited, and the financial statements are in agreement with the accounting records.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which ISAs (Ireland) require us to report to you where:

  • The Select Vestry’s use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

  • The Select Vestry have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the parish’s ability to continue to adopt the going concern basis of accounting for a period of at least 12 months from the date when the financial statements are authorised for issue.

 

Respective responsibilities

Responsibilities of the Select Vestry for the financial statements

The Select Vestry is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to error or fraud. In preparing the financial statements, the Select Vestry are responsible for assessing the parish’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless there is any basis for not doing so.

Auditors’ 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 misstatements, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is of a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (Ireland) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Further information regarding the scope of our responsibilities as auditor

As part of an audit in accordance with ISAs (Ireland), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

  • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

  • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the parish's internal control.

  • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Select Vestry.

  • Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

 

The purpose of our audit work and to whom we owe our responsibilities

Our report is made solely to the parishioners, as a body. Our audit work has been undertaken so that we might state to the parishioners those matters which we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parishioners, as a body, for our audit work, for this report, or for the opinions we have formed.

Ben Lewis for and on behalf of
Lewis & Co
Chartered Accountants and Statutory Audit Firm 8 Priory Office Park
Stillorgan
Co Dublin

21st March 2018

 

UNITED PARISH OF RATHMINES WITH HAROLD’S CROSS CONSOLIDATED RECEIPTS AND PAYMENTS ACCOUNT FOR YEAR ENDED 31 DECEMBER 2017

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UNITED PARISH OF RATHMINES WITH HAROLD’S CROSS CONSOLIDATED RECEIPTS AND PAYMENTS ACCOUNT FOR YEAR ENDED 31 DECEMBER 2017

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UNITED PARISH OF RATHMINES WITH HAROLD’S CROSS ACCOUNTING POLICIES FOR YEAR ENDED 31 DECEMBER 2017

Departure from Financial Reporting Standard

FRS102 requires the financial statements to be prepared on an accruals basis. For a clearer understanding of the financial affairs of the parish the Select Vestry has chosen to prepare the financial statements on a receipts and payments basis.

Incoming resources

Voluntary income and donations are included in the Receipts and Payments Account upon receipt.

Resources expended

All resources expended are accounted for when paid.

Fixed assets

No fixed assets are capitalised in the financial statements as all are expensed in the year of acquisition.

Heritage assets

As the church was built in 1828 the cost is unknown and no value has been recognised therefor in the financial statements.

Investments

The Representative Church Body holds, for the benefit of United Parish of Rathmines with Harold’s Cross, investments not listed herein, the income from which is reflected in the Receipts and Payments Account.