Society of African Missions (Nl Communities) Annual Report and Audited Financial Statements for the financial year ended 31 December 2022 Daly Park & Cornpany Ltd Chartored Accountants and Reglstered Auditors 6 Trevor Hill Newry Co. Down BT34 1DN
Society of African Missions (Nl Communities) CONTENTS Page Trustees, and Other Infomation Trustees, Report statement of Trustees. Responsibilities Independent Auditorfs Report statement of Flnancial Activit5es Balance Sheet 10 Notes to the Financial Statements Supplementsry Information relating to the Financial Statements 16
Society of African Missions (Nl Communities) TRUSTEES. AND OTHER INFORMATION Trustees Rev Malachy Flanagan Rev Martin Kavanagh Rev Eamonn Finnegan Rev Anthony Kelly Rev Jarlalh Walsh Rev Colum Patrick O'shea Principal Addre3$ 96 Glen Road Dromantine Jerrelspas3 Newry Co. Down BT34 1RH Audltors Daly Park & Company Ltd Chartered Accountants and Register8d Auditors 6 TvOr Hlll Newry Co. Down BT34 1DN Bankers First Trust Bank 4244 Hill Street Newry Co. Down BT341AU Northern Ireland Solicitor8 Luke Curran & Co 6 Marcus Square Newry Co. Down BT34 1AY United Kingdom
Society of African Missions {Nl Cornmunities) TRUSTEES. REPORT for the financial year ended 31 Dember 2022 The trustees present their Trustees, Report and the audited financial statements for the finanaal year ended 31 Derxmber 2022. The finanual statements are prepared in accordance with FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland and Accounling and Reporting by Charities.. Staternenl of Recommended Practice applicable to charities preparing their finanaal statements in accordan with th8 Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102). The Trustees, Report contains Ihe infomiation required lo be provided in the Trustees, Annual Report under the Statement of Recommended Practi (SORP) guidelines. In this report the trustees of Society of African Missions (Nl Communities) present a surnmary of its purpose, govemance, aGtivitie5, achievements and financ8s for the financial financial year 31 December 2022. Mission, Objectives and Strategy Objectives Thg charitable purpose of the Society of African Missions {SMA) is the athiancement of education and religion. The direct benefils which flow frorn Ihe SMA purpose include Sfflproved spiritual awareness and religious well being as a result of various aspects of work undertaken by The Society. These benefits are demonstrated through feedback from the general public together with evaluations provided by attendees at conferences and retreats held al Th8 Societls facilities. The purposes. of The Society are entirely benefical and do not lead to any harrn. The beneficiaries of The Society's purposes are the general public to include people living withln the island of Ireland who wish to explore and enhance their spiritual and religious welfare. A private benefit to trustees may arise due to their facilitation of conferences, courses and olher eduralional aclivilies. Through such activities trustees gain skills and experience which are transferable to other settings. These benefits are incidental and necessary to ensure the benefit is provided to The Society's beneficiaries. The Society ensures the upkeep, maintenance and provision of a retreat and conference centr8 offering a modern. comfortable, well equipped facillty in the mosl idyllic of rural settings away from the noise and distractions of everyday life. The beautiful grounds, tranquil, peaceful atmosphere along wlth the modern facilities make it the perfect venue for retreals and conf8rences. Results and Dividends At the end of the financial year the charity has assets of £303,177 (2021- £307,890) and Ilabilltles of £169,79512021 - £183,435). The net assets oflhe charity have increased by £8,927. In accordan with the Articles of Association, the dlrectors retlre by mtation and, being eligible, offer themselves for re-election. Compliance woth Sector-wide Legislation and Standards The charity engages pro-actively with legislation, standards and codes whlch are developed for the sector. Society of African Missions (Nl Communities) subscribes to and is ojmpliant with the following-. The Charities SORP {FRS 102) Approved by the Board of Trustses on 20 October 2023 and signed on its behalf by: /alV. Rev Damian Bresnahan Trus Rev Jarlath Walsh Trustee
Society of African Missions (Nl Communities) STATEMENT OF TRUSTEES, RESPONSIBILITIES for the financial year ended 31 Dember 2022 Th8 trustees are responsibl8 for pr8paring the finanLyal statements in accordance with applicable law and regulations. The law appliGable to charities in England and Wales requires the trustees to prepare ffinancial statements for each financial year which give a true and fair view of the assets. liabilities and financial position of the charity as al the financial year end date and of th8 surplus or deficat of the charity and otherwise Gompty with the Charities Ad 2011. In preparing these finan¢ial slatements, the trustees are required to- select suitable acccunting policies and apply them con5151ently; observe the methods and prin(aples in the Charities SORP make judgements and estimates that are reasonable 8nd prudent., state whether the financial statements have been prepared in accordance wilh the relevant financial reporting fraTnework, identify those 31andards, and note the effect and the reasons for any malarial departure from those standards- and prepare the financial statements on the going concern basis unless it is inappropriate to presurne that thè charity will ¢)Jntinue in operation. The trustees Gonfim that they have complied with the above requirements in preparing the finandal statements. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and di5G105e with reasonable accuracy at any lime th8 financial position of the charity and enable them to ensure that the financial statements comply with the ChaTitses Act 2011. They are also responsible for safeguarding the assets of th8 charity and hen for taking iea50nable steps for the prevention and detection of fraud and other irregularities. Approved by the Board of Tru8tee8 on 20 October 2023 and 81gned on its behalf by: Rev Damian Br88nahan Trustee Jarfath Walsh Trustee
INDEPENDENT AUDITOR'S REPORT to the Members of Society of African Missions (Nl Communities) Report on the audit of the financlal statements Opinion We have audited the charity finanaal statements of Society of African Missions (Nl Communities) ('th8 charity) for the financial year ended 31 Dernber 2022 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the finan¢ial statements, including the summary of significant accounling poliGies set out in note 2. The financial reporting framework Ihat has been applied in their preparation is applicable law and United Kingdom AcGounting Standards, including FRS 102 "The Finanu81 Reporting Slandard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in acwrdance with FRS 102. In our opinion, when reporting in accordanGe with a fair presentation framework the financial statements.. give a true and fair view of the stale of the Gharily's affairs as at 31 December 2022 and of ils surplus for the financial year then ended; have been properfy prepared in accordance with United Kingdom Generally AGGepted Accounting Practi,. and have been prepared in accordance with the requirements of the Charitie5 Act {Northern Ireland) 2008. Ba818 for opinion We conducted our audit in accordan with International Slandards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those Standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with ethical requirements Ihat are relevant to our audit of th8 financial statements in the UK, including the FRC'S Elhical Standard, 8nd we have fulfilled our other ethical responsibilities in aeLordance with these requirements. We believe thal the audit eviden we have obtained 15 suffiuent and appropriate to provide a basis for our opinion. Concluslong relating to going concern In audiling the financial ststements, we have concluded that the tnJstee5' use of the golng concern basls of accounting in the preparation of the fin8nrial statements 15 appropriate. Based on the work we have performed, we have not identlfied any material uncertainties relating to events or condition5 that, individually or collectively, may casl significant doubl on Ihe charity's ability to continue as a going concern for a period of at least Iwelve months from the date when the financlal statements are authorised for issue. Our responsibilities and the responsibilities of the trustees wlth respect to going concern are described in the relevant sections of this report. Other Inlormatlon The other information comprises the information included in the annual report other Ihan the financial statements and our Auditorfs Report thereon. The trustees are responsible for Ihe other information wntained within the annual report. Our opinion on the financial slatements does not cover the other information and. except to the exlent otherwise explicitly stated in our report, we do not expr8ss any form of assuranrk conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other Information 1$ materially inconsistent with the finanti81 slat8fflents or our knowledge obtained in the Course of the audit, or otherwise appears to be materially misstated. If we identify such malerial inconsistencies or apparent material misstatemenls, we are required lo determine whelher this gives rise to a material misstatement in the financial statements Ihemselves. If, based on the work we have perforrned. we conclude that there is a materi81 misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Opinion on other matter prescribed by the Companies Act 2006 In our opinion, based on th8 work undertaken in the couTse of the audit.. the information given in the Trustees, Report for the financial year for whlch the finanaal 5ts1ernents are prepared is consistent with the financial statements,. and the Trustees, Report has been prepared in accordance with applicable legal requirements.
INDEPENDENT AUDITOR'S REPORT to the Members of Society of African Missions (Nl Communities) MatterJ on which we are required to report by exGeption In the light of our knowledge and understanding of the charity and ils environment obtained in the course of the audit, we have not identified material misstatements in the Trustees. Report. We have nothing to report in respect of the following matters where the Charities Act (Northern Ireland) 2008 requires us to report to you if. in our opinion.. adequate arxounting records have not been kept., or the financial staternenls are not in agreement with the accounting records and retums- or certain disclosures of trustees, remuneration specified by law are not made,. or the truslees were not entitled to prepare the finanaal statements in accordance with the small cornpanies regime and take advantage of the small companies, exemption in preparing the Tru8tees' Annual Report. Responsibilities of trustees for the financial statements As explained more fully in the Statement of Trust88s' Responsibilities set out on page 5, the trustees are responsible for the preparation of the financial statements and for being salisfied that they give a true and fair view, and for such inlemal control as they determine is necessary to enable the preparation of financial statements that are free from material rnisslalement, whether due to fraud or error. In preparing the financial statements, the trustees are responslble for assessing the charitys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using Ihe going concern basis of accounting unless management either intends to liquidale the charity or to cease operations. or has no realistic alternative but to do so. Audltorf3 responslbilitie8 for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether Ihe financial slatements as a whole are fre8 from material misstatemant, whether due lo fraud or effor, and to issue an Auditofs Report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audil conduded in accordance with ISAS (UK) will always detect a material misslat8ment when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregale. they ¢ould reasonably be expected to influence the economic dec(8lons of users taken on the basls of these financial stalemenls. Irregularities, including fraud, are instances of non-compliance with laws and regulalions. We deslgn procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of Irregularilies. including fraud. The extent to which our procedures are Gapable of detecting irregularilies, including fraud is detailed below: Further information regardlng the scope of our responslbllltles as auditor As part of an audit in accordance with ISAS (UK), we exercise professional judgement and maintain professlonal scepticism throughout the audit We also.. Identify and asse5S the risks of material misstatefflent of the financial statements. whether due to fraud or error, design and perform audit procedures responsive to those risks. and obtain audit evidence Ihal is sufficient and appropriate tc provide a basis for our opinion. The risk of not delecling a maleiial misslalement resulting from fraud is higher than far one resulting from error, as fraud may involv8 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 charity's intemal control. Evaluate the approprialeness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by trustees. Condude on the approprialeness of the trustees. use of the going ncern basls of accounting and, based on the audit evidenGe obtained, whether a material unrtaintY exists related to event5 or conditions Ihat may cast significant doubt on the charity's ability to continue as a going concein. If we conclude that a maleiial uncertainty exists, we are required to draw attention in our Auditorfs Report to the related disGlosures in the financial statements or, if such disclosures are inadequate. to modify our opinion. Our conclusions are based on the audit eviden obtained up to the dale of our Auditols Report. However, future events or conditions may cause the charity to cease to continue as a going concem. Evaluate the overall presentation. structure and wntent of the financial statements, includlng th8 disdcsures, and whether the financial statements represent the underlying Iransactions and events in a manner that achieves fair presentation.
INDEPENDENT AUDITOR'S REPORT to the Members of Society of African Missions (Nl Communities) We communicate wilh those charged with govemance regarding. arnong other matters, the planned 5Gope and timing of the audit and significant audit findings, induding any significant deficiencies in internal control that we identify during our audit. The purpose of our audit work and to whorn we owe our responsibilltles This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so thal we might state to the chariws members those matters V are required to stale to them in an auditols report and for no other purpose. To the fvllest extent permitted by law, we do not aKept or assume responsibility to anyone other than the charity and the ¢haritWs members as a body, for our audit work, for this report, or for the opinlons we have formed. DALY PARK & COMPANY LTD Chartered Accountants and Regisleied Auditors 6 Trevor Hill Newry Co. Down BT34 1DN 20 October 2023
Society of African Missions (Nl Communities) STATEMENT OF FINANCIAL ACTIVITIES for the financial year ended 31 December 2022 Unrestricted Funds 2022 Total Unreslricted Funds 2021 Tolal 2022 2021 Notes Incoming Resources Voluntsry Income Charitable activitie5 - Grants from govemments and other co-funders Activrties for generating funds Investments 154,607 154,607 105,035 105,035 230,028 230,028 3.3 1,112,520 1.112,520 20.757 20,757 91.800 731,171 17,727 91.800 731.171 17,727 Total incoming resources 1,517,912 1,517,912 945,733 945.733 Resources Expended Charitable activities 4.1 1,291,596 1,291,596 922,g05 922,g05 Net Incomlngloutgolng re8ource8 before transfers before exceptlonal Items Exceptional items 226.316 226,316 22.828 22.828 34,510 34,510 Net incomingloutgoing resources before transfer8 after fjxceptlonal Iteffls Gross transfers between funds 226.316 226,316 57,338 57,338 (217,3891 (217,389) (45,974) (45,974) Net rnovement In funds for the financial year 8,927 8,927 11,364 11,364 Reconclllatlon of fund¥ BalanS brought forward al 1 January 2022 12 124,455 124,455 113,091 113,091 Balances carried forward at 31 December 2022 133,382 133,382 124,455 124,455 The Statement of Financial Activities indudes all gains and losses recogni88d in the financial year. All inGorne and expenditur8 r8lat8 to continuing activities. The notes Dn pages 11 to 14 form part of the financial statements
Society of African Missions (Nl Communities) BALANCE SHEET as at 31 December 2022 2022 2021 Notes Fixed Assets Tangible assets 11,693 15,591 Current Assets Debtors Cash at bank and in h8nd 24,797 266,687 292,299 291,484 292,299 Creditors: Amounts falling due within one year 10 1169,795) (183,435) Net Current Assets 121,689 108,864 Totsl Assets less Current Llablllties 133,382 124,455 Fundg General fund (unrestricted) 133,382 124,455 Total funds 12 133,382 124,455 Approved by the Board of Trustees and authorlsed for issue on 20 October 2023 and signed on its behalf by Rev Damian Bresnahan Tru¥ v Jarlath Walsh Trustee The notes on page5 11 to 14 form part of tha financial statements 10
Society of African Missions (Nl Communities) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 310ecember 2022 GENERAL INFORMATION Society of African Missions (Nl Communilies) is a charity in Northem Ireland. The registered office of the company is 96 Glen Road, Dromantine, Jerretspass, Newry. Co. Down, BT34 1RH which is also the principal place of business of the company The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are consldered material in relation to the Gharity's firsanGial statements. statement of compllance The finantial stalernents of the charity for the financial year ended 310ecember 2022 have been prepared on the gcing concern basis and in accordance wilh the Statement of Recommended Pral¢e (SORP) "Accounting and Reporting by Charities preparing their accounts in accordanG8 with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland FRS 102". Incomlng Resources Voluntary income or capital is included in the Statement of Financial Activie$ when th8 charity is legally entitled to it, its financial value can be quantified with reasonable certainty and there is reasonable certainty of its ultifflate receipt Entillernent tc legacies is considered established when th8 charity has been notified of a distribution to be rnade by the executors. Income received in advance of due performance under a contracl is accounted for as deferred income until eamed. Granls for activit18s are recognised as income when the related conditions for legal entitlernent have been rnet. All other income is accounted for on an accruals basis. Tangible fixed assets and depreciation Tangible fixed assets are staled at Cost or al valuation. less a¢cumul8ted depreclatlon. The charge to depreciation Is calculated to write off the original cost or valuation of tangible fixed assets, less thelr estimated residual value. over their expected useful lives as follows: Motor vehicles 25ty/0 Reduclng balance Debtors Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by Ihe the charty from government agencies and other COThfunder8, but not yet received at year end, is Included In debtors. Cash at bank and in hand Cash al bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. Taxation No current or deferred taxation arises as the charily has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. INCOME DONATIONS ANO LEGACIES Unrestrlcted Restrictsd Funds Funds 2022 2021 Covenant Income Other Don81ions FVC Group Income Mission Boxes 20,163 46,088 45,297 43,059 20.163 46,088 45,297 43,059 10 25,330 44,789 34,906 154,607 154,607 105,035
Society of African Missions (Nl Communities) NOTES TO THE FINANCIAL STATEMENTS ntinued for the financial year ended 31 December 2022 CHARITABLE ACTIVITIES Unrestrl¢led Restricted Fund5 Funds 2022 2021 Family Fun Day Ma55 Stipends SMA Summer Camp Honorarium Annual Daw 35,799 40.809 104,177 11,422 37,821 35,799 40,809 104,177 11,422 37,821 33.859 55,641 2.300 230,028 230,028 91.800 OTHER TRADING ACTIVITIES Unrestrlcted Restricted Funds Funds 2022 2021 Missionary AssoGiation Cards Retreat & Conference Cenlre ReIpts Novena 535,145 551,607 25,768 535,145 551,607 25,768 595,832 104,708 30,631 1,112,520 1,112,520 731,171 INVESTMENTS Unrestrlcted Restrlcted Funds Fund8 2022 2021 Inveslfflenls 20.757 20.757 17,727 EXPENDITURE CHARITABLE ACTIVITIES Dlrect Costs Othor Costs Support Costs 2022 2021 Fundraising and Events Expenditure Other ReSoUrS Expended Govemance Costs (Note 4.2) 86.602 86.602 495.433 709,561 28,581 358,398 537,926 495,433 709,561 86,602 1,204.994 1,291,596 922,905 GOVERNANCE COSTS Direct Costs other Costs Support Costs 2022 2021 Charitable aciivilies - govemance costs 709,561 709,561 537,926 NET INCOMING RESOURCES 2022 2021 Net Incomlng Resources are stated after charglngl{crediting): Depreciation of tangible assets (Surplus)Id8fiat on foreign currencies Grants recelvable Teceived 3.898 (721) 5,198 572 (34,510) INVESThIENT AND OTHER INCOME 2022 2021 Revenue grants received 34,510 12
Society of African Missions (Nl Communities) NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 Dec8rnber 2022 INVESTMENT AND OTHER INCOME 2022 2021 Revenue grant5 received 34,510 EMPLOYEES AND REMUNERATION Nurnber of employees The average nuTnber of persons employed (including executive trustees) dudng the financial year was as follows.. 2022 Numbèr 2021 Number House Staff 24 21 The staff costs comprlse: 2022 2021 Wages and salaries 441,726 378,634 TANGIBLE FIXED ASSETS Motor vehicle8 Totsl Cost At 31 December 2022 67,510 67,510 Depreciation At 1 January 2022 Charge for the financial year 51.919 3,898 51,919 3,898 At 31 December 2022 55,817 55,817 Net book value At 31 December 2022 11,693 11,693 At 31 December 2021 15,591 15,591 DEBTORS 2022 2021 Other debtors 24.797 24.797 10. CREDITORS Arnounts falling due within one year 2022 2021 Bank overdrafts 169.795 183,435 13
Society of African Missions (Nl Communities) NOTES TO THE FINANCIAL STATEMENTS ontinued for the financial year ended 31 Dember 2022 11. RESERVES 2022 2021 At 1 January 2022 Surplus for the financial year 124.455 226,316 113.091 57,338 At 31 December 2022 350,771 170.429 12. FUNDS 12.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Funds Total Funds At 1 January 2021 Movement during the finanGial year 113,091 11,364 113,OS1 11,364 At 31 December 2021 Movement during the financial year 124,455 8,g27 124,455 8,927 At 31 December 2022 133,382 133,382 12.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2022 Income Expendlture Trnnsfers Balance betwoon 31 December funds 2022 Unrestricted funds Unrestricted General 124.455 1,517,912 1,291,596 (217.3891 133,382 Total funds 124,455 1,517,912 1,291,596 {217,389) 133,382 12.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets . charlty use Current a88ets Total Unrestricled general funds 11,693 121,689 133,382 11,693 121,689 133,382 13. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charity since the finanaal year*fid. 14
SOCIETY OF AFRICAN MISSIONS NI COMMUNITIES SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS R THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 NOT COVERED BY THE REPORT OF THE AUDITORS 15
Society of African Missions (Nl Communities) SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS Operating Staternent for the financi81 year ended 31 December 2022 2022 2021 Income Missionary Association Cards Retreat & conferen Centre Receipts Family Fun Day Covenant Income Mass Stipends SMA Surllrner Camp Other Donations FVC Group Income Honorarium Mission Boxes Novena Land & Property Rents Annual Draw 535,145 551,607 35.799 20,163 40,809 104,177 46,088 45,297 11,422 43,059 25,768 20,757 37.821 595,832 104,708 33,859 10 55,641 25,330 44,789 2,300 34,906 30,631 17,727 1,517,912 945,733 Expenses Wages and salaries Staff training Provisions and Supplles Rates Library Expenses AllotIOn & Allowance Light and heat Repairs and maintenance House Administratlon Printing, postage and stationery Telephone Computer costs Motor expenses Fundraising and Events Expendlture Accountancy Bank charges Surplusldeficil on exchange General expenses Depreciation Charitable donations 441,726 9,683 185,608 667 3,934 66,194 142,481 120,149 6.350 166,079 14.043 513 15,861 86,602 5,774 12,977 (721) 7,538 3,898 2,240 378,634 2,291 68,956 661 4,985 82,009 68,930 125,036 8,036 96,999 17,106 729 14,109 28.581 5,140 7.529 572 384 5,198 9,020 1,291,596 922,905 Miscellaneou8 income Revenue grants reiVed 34,510 Net surplus 226,316 57,338 The supplementary infomation does not fom part of the audited financial slatements 16