Dominican Fathers Newry
Non-statutory financial statements
Year gndod 31 December 2022

Dominican Fathers Newry
Non-statutory financial statements
Contents
Page
General infomiation
Trustees, report
Statement of Trustees, responsibilities
Independent auditorfs report to the administrators on the non-statutory
financial statements of the Dominican Fathers Newry
Statement of flnanclal activities
8alance sheet
10
Cashflow Statement
11
Notes forming part of the non-statutory financial statements
12-17
Supplementay Financial Inform8tlon
18-20

Dominican Fathers Newry
General information
TrusleeB
David Tohill O.P. (Prior)
John Harris O.P.
William David Walk6r O.P.
Address
St. Catherine's Priory
Dominlc Street
Newry
Co. Down
Audltor
Walsh O'Brien Harnett,
104 Lower Baggot Street
Dublin 2
Bankers
First Trust Bank
Allied Irish Banks
Sollcftor8
S.C. Connolly & Co.
39 Hill Street
Newry
Co. Down
Charlty r•glstratlon numb•r
101350

Dominican Fathers Newry
Trustees, report
The Trustees of the Dominican Fathers Newry present their annual report and non-statutory financial
statements for the year ended 31 December 2022.
Prlnclpal actlvltlos
The Dominican Fathers Newry is a Community of Friars livlng in Dominic Street, Newry and having a
Priory Church that is open to the public for participation In religious services or quiet prayer or reflection.
The Dominican Fathers Newry is part of the Irish Provlnce of the Dominicans (Order of Friars Preachers).
The Dominicans were founded by St Dominic de Guzman in 1216 with the purpose of preaching the
Gospels.
The principal activity of the Dominican Fathers Newry is the advancement of rellglon and education to the
public in Northern Ireland. The Dominican Fathers Newry achieve this objective by adapting to th8 needs
of the Christian Community in order to raise awareness and understandlng of religious beliefs and
practices.
Community members are involved in a broad spectrum of religious and social activity including
Chaplaincy, missionary work, teaching, and Ilterary work such as writing, publishing and resoarch.
Community members participate in Charitable works and groups, and are available to individual members
of the publlc who wlsh to consult them on matters of faith, spiritual Ilfe or social issues. In this way the
Dominican Fathers Newry ensure a real rellglous, social and 8ducatlonal benefit to a broad range of
people.
Publlc b•n•flt
A direct Public benefft comes from the Charfty to tha spiritual. physical and mental wellbeing of the
Catholic and wider Communities in tha Newry area. Public ben8frt is supported and served by the
Dominican F8th8rs who conduct Religious seNic8s such as masses and other worship, with a special
emphasis on th6 promotlon of Confession, and Rellgious Education through retreats, novenas, bible
meditation and other courses or lectures. Members of the publ￿ ar8 encouraged to participate in daily
masses. Eucharistic adoration, bible studies in the newly built Lectio centre and various prayer groups.
The Community is mindful of those unabla to attend Church through age. infirmity or being away from
Newry and their involvement is facilitated by an °on-line° broadcast of Church ceremonies. The
Dominican Fathers Newry can also facilitate the publlc through individual Religlous ceremonies such as
baptisms, marriages and funerals. Members of the Community are available to a person in need of moral
support or comfort to deal with life's difficulties in bereavement. illness or mlsfortune. The importanc8 of
the Charity within Newry is evident from the number of people willing to volunteer their time and
participate in Religious practice, and active involvement is to everyone's benefit.
The Dominican Fathers Newry hold a charitsble objective and in addition to Involvement in social and
other works make or organise significant donations to a number of good causes locally and abroad.
These include holdlng a special coll8Ction each Monday for a nominated charity. and regular donations to
worthy causes.
Flnan¢lal r6vI6w
The statement of financial activitiés for 2022 Is contained on page 9. This discloses incom8 of the Charity
at £439,802 (2022.. £399,833). Expenditure In 2022 totalled £543,389 (2021.. £471, 733).
The balance sheet for the Dominican Fathers Newry is on page 10. This discloses a financial base,
largely comprising bank accounts, investments and propety. The Charitls ￿SerVeS amount to
£753,292 (2021.. £892,040J.

Dominican Fathers Newry
Trustees, report (continued)
The Dominican Fathers use these reserves to support the furtherance of their mission to preach the
Gospel by funding its charitable. preaching. education, care and other obligations.
Statement that the Trustees have had regard to the Charlty Commlsslon for Northern Ireland
public benefit requlrement statutory guldance
The Trustees confim that they have complied with the requirements of Section 4(6) of the Charitles Act
(Northern Ireland) 2008 to have due regard to the public benefit guidance published by the Charlties
Commission for Northem Ireland in determining thè activities undertaken by the Charity. Throughout this
Annual Report the Trustees seek to demonstrate that the aims and objectlV8s of the Dominican Fathers
Newry are for the public benefit.
Structure. governanco and managemant
The operations of the Domlnlcan Fathers Ne￿ are overseen by the Trustee Board. Trustees are
appointed by the Community of Friars in Newry and Ihe Provincialate of the Dominican Order in Ireland.
Trustees are Dominican Friars and recruitment is based upon their knowledge, skills and experience
necessary for overseelng the affairs of the Charity to ensure it is solvent, well run and achieves the
purposes for which It was established.
Rlsk management
The Trustee Board actively reviews all major strategic and operational risks to which the Charity is
exposed and confirms these have been reviewed and that strategies and systems are established to
manage exposur8 to these risks. The main risk areas for the Dominican F8th8rs Newry comprise:
Compliance with Health and Safety and list8d buildlngs legislation
Safeguarding
Maintaining Church income In the modern Society
Reduction in reserves due to maintenance of buildings
Impact of aging in Community Membership and congr8gations
Safeguardlng
The Dominican Fathers N8wry adheres to best prackn'ce child protection and vulnerable adult safeguardlng
practlces which is overse8n by the safeguarding office of the Dominlcan Order in Ireland. This
safeguarding office is managed by a lay person who is a qualified and experienced social worker. The
role of the safeguarding office is to develop, implement and oversee best practice children and vulnerable
adult safeguarding procedures for the Provin￿ which includes the Dominican Fathers N8wry. This is
done In accordance with the National Board for Safeguarding Children in the Catholic Church in Ireland's
(NBSCCCI) Standards and Guidance document.
Future plans
The Dominican Fathers Newry wlll continue the activities detailed already in this report and seek to
develop further, particularly promoting involvement in Lectio Devina. The Communty has property,
namely the Church. Priory. Lectio Centre and other ancillary buildings. These need careful maintenance
due to their age. historical s1gnif￿?n¢e and availability for worship to the general public. A fundraising
Committee continues valuable work on raising funds for essential renovations. In a relatlvely short time
period. substantial monies have been raised without which renovations would be impossible. Our thanks
to all persons contributing to the fundraising and the volunteers on the Committee for their dedication.

Dominican Fathers Newry
Trustees, report (continued)
Persons Involved wlth th8 Charlty
The Domlnlcan Fathers Newry acknowledg88 wlth gratltude the support of the P80ple of Newry who mean
so much to our Community. It would be very dlfflcuFt to contlnue our Mlssion In N8wry wfthout the many
people who give thelr tlme In such a variety of ways to the Charity and to our d8dlcated Staff whos8 Input
to the Charfty is so important and valued.
Dlsclo8ure of Informatlon to Audltor
Each person vh)0 Is a trustee at the dato of approval of this report conllrms that.
trKre Is no relevant audlt Informatlon (Informatlon needed by the charlty8 audltor In ¢onnectk)n wlth
preparlng the audltorf8 report) of whlch th8 charfty's auditor Is unaware, and
the trustees have tsken all the st8PS that thoy ought to have taken as truste88 in order to make
themselv88 awar6 of any reF8vant audit infomation and to astab118h that the charitr/8 audltor is aware
of that Inft)rmatlon.
Approved and authorised far18sue by the Trustees on IILo3Ja3 and slgned on It8 behalf by:
Trustee
ru
ee

Dominican Fathers Newry
Statement of Trustees, r8sponsibilities
The administrators of Domlnlcan Fathers Newry ("the Chartv) have accept6d responsibility for the
preparation of these non-statutory financial stst8ments for the year ended 31 December 2022 for the
purpose and on the basis as set out in note 1 to the non-statutory financial statements. The
administrators have alected to prepare the financl81 statements in accordanc6 With appllcable law and
FRS 102 The Financial Reporthg St8nd8rd 8ppIic8ble In the UK 8nd RepubliG ofir8land.
In pr8paring th8 non-statutory financial statements, the admlnistrator has:
selected $uitabl8 accountlng policS8s and then applled them consistendy;
made Judgements and estimates that are reasonable and prudent. and
prepar8d the non-statutory financial ststem8nts on a golng concern basls 88 they b811ev8 that the
Charlty wlll contlnue In bu51n888.
The admln18trators are responslble for keeplng adequate accountlng r8cords whlch dlsclose with
reasonabla accuracy at any tlm8 the flnanclal position of th8 Charfty. They hav8 a general resFonslblllty
for taking 8uch steps as Bre reasonably open to tham to safeguard the assels of the Charity and to
prevent and detect fraud snd oth$r irregularitles.
Approv8d and authorfsed for Issue by tha Trustees on Jiio422 and slgn8d on Its behalf by:
¢y
Trustee
Tr

WALSH
O'BRIEN
HARNETT
Independent auditor's report to the administrators on the non-statutory financial
statements of the Dominican Fathers Newry
Report on the audlt of the financlal statements
Oplnlon
We have audited tha non-statutory financial statements of Dominican Fathers Newry ('the Charlty.) for the
year ended 31 December 2022 set out on pages 9 to 17, which comprise the statement of financial
activities, balance she8t and related not8s, includlng the summary of signlflcant accounting policies set
out in note 1. These non-statutory financial ststements have been prepared for the reasons set out in
note 1. The financial reporting framework that has been applied in their preparation is FRS 102 The
FlnanGial Reporting Standard applicab18 in the UK 8nd Republic of Ireland.
In our opinion, the non-statutory financial statements:
give a true and falr view of the state of the Charfty's affairs as at 31 December 2022 and of its
daflclt for the year then ended,.
have been properly prepared in accordance with FRS 102 Tho Financial R9POrting Standard
applicable in the UK and Republic of Iraland". and
have been properly prepared in accordance with the requiremants of the Charities (Northern
Ireland) Act 2008 and Regulation 8 of the Charities Accounts and Reports (Northern Ireland)
Regulation 2015; and
have been properly prepared in accordance wlth the accountlng policies and basis of
preparation sat Out in note 1
Basls for oplnlon
We conducted our audil in accordance with Intematlonal Standards on Auditlng (UK) (ISAS (UK)) and
applicable law. Our re8panslbllllles under those standards are further described In the Auditor's
responslbllStles for the audit of the non-statutory financlal statements section of our r8POrt. We are
independent of the Charity in accordance with ethical requirements that are relevant to our audit of
financial statements in the UK, including the Financial Reporting Council (FRC)'s Ethical Standard, and
we have fulfilled our other elhlcal responsibilities In accordance with these requlrements.
We bell6ve that the audit evidence we have obtsined Is sufficient and approprlate to provide a basls for
our oplnlon,

WALSH
O'BRIEN
HARNETT
Independent auditor's report to the administrators on the non-statutory financial
statements of the Dominican Fathers Newry (contlnued)
Report on thè audlt of th8 financial stataments (continued)
We have nothlng to report on golng concern
The trustees have prepared the financial statements on the going concern basls as they do not intend to
liquidate the Trust or to cease its operations, and as they have conclud8d that the Trust's financial
position means that this is realistic. They have also concluded that there are no material uncertainties
that could have cast significant doubt over its abllity to continue as a going concern for at least a year from
the date of approval of the financial statements (Yhe going concern period").
We are required to report to you if w8 have concluded that the use of the going concern basis of
accounting is inappropriate or there is an undlsclosed material uncertainty that may cast significant doubt
over the use of that basis for a pariod of at least a year from the date of approval of the financial
statements. We have nothing to report in these respects.
However, as we cannot predict all future events or conditions and as subsequent events may result In
outcomes that are Inconsist6nt with Judgements that were reasonable at the time they wer8 made. the
absence of r8ference to a matarial uncertalnty in this auditorfs report Is not a guarantee that the Charlty
wlll continue In operation.
Other Inforniatlon
The Truste8s are responsible for the preparation of other information presented in the Annual Report
together with the non-statutory financial statements. The other informatlon comprises the information
included in the Truste8s' report. The non-statutory financial Statements and our auditor's report thereon
do not comprise part of the olher informatlon. Our opinion on the non-statutory financial statem8nts does
not cover the other Information and we do not express any form of assurance conclusion on that
Information,
Our responsibility is to read the other information and, in doing so, consider whether, based on our non-
statutory financial statement audit work, the infomiation therein ig mat8rially misstated or inconsistent wlth
the non-statutory financial slatements or our audit knowledge. Based solely on that work, we hav8 not
Identified material mlsstatements in the other Infomiation.
Matters on whlch we are roqulred to report by ex¢eptlon
In connectlon wlth our audit of th8 financial statements, ISAS (UK) requlre that we read the other
information and. In doing so. consider whether that infonnation is materlally inconsistent with the financlal
statements or our knowledg8 obtained from our audit work, or othenvlse appears to b8 materially
misstated.
ISAS (UK) require that we report to you rf, based on the knowledge we acquired during our audlt, we have
identified information in th8 annual report that contains a materlal inconsistency with either that knowledge
or the financial statements, a material misstatement of fact. or that is otherwise mislaading. We have
nothing to report in this regard.
Under the charities (Northern Ireland) Act 2008 and Regulation 8 of the Charities Accounts and Reports
(Northem Ireland) Regulations 2015 we are required to rewrt to you if, in our oplnlon..
adequate accounting records have not been kept. or retums adequate for our audit have not
been ￿Ceived from branches not visited by us: or
the flnancial statements are not in agreement with the accounting records and r8turns' or
we have not received all the information and explanatlons.
We have nothing to r8POrt in respect of the above responslbilities.

WALSH
O'BRIEN
HARNETT
Independent auditor's report to the administrators on the non-statutory financial
statements of the Dominican Fathers Newry (continued)
Respectlve responsibllities and restrlctions on use
Responslbllltles of Trust•es for the non-statutory flnanclal statements
As explained more fully in their statement set out on page 5. the Trustees are responslble for: the
preparation of the non-statutory financial statements. which are intended by them to give a true and fair
view. such intemal control as they determine is necessary to enable the preparation of non-statutory
financial statements that are free from matsrial misstatement, whether due to fraud or error,. assessing th8
Charity's ability to continue as a going concem, disclosing, as applicable, matters related to going
concem. 8nd using the going concem basls of accounting unless they either intend to liquidate th8 Charity
or to cease operations, or have no realistlc alternative but to do so.
Audltor's r•sponslbllltles for the audlt of the non-statutory flnanclal statements
Our objectives are to obtain r8asonable assurance about whether the non-statutory financial statements
as a whole are free from material mlsslatement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not
guarantee that an audlt conducted in accordance with ISAS (UK) wlll always detect a materlal
misstatement when it exlsts. Misstatements can arise from fraud or error and are considered material if.
Indivldually or in the aggregate, they could reasonably be expected to Influence the economic decisions of
users taken on the basis of these financial statements.
A fuller description of our responsibilitles is provided on the FRC'S website at
www.frc.or .uklauditorsres
onsibilities.
The purpose of our audlt work and to whom we owo our rnsponslbllltles
Our report has been prepared for the Charlty solely in connection with our engagement letter dated 1 st
Jun8 2022. It has been released to the Charlty on the basis that our r8POrt shall not be copied, referred to
or disclosed. in whole (save for the Charlty's own Internal purposes) or in part, without our prlor written
consent.
Our report is made solely to the Trust888 in accordance with Section 65 of the Charities {Northern Ireland)
Act 2008. Our report should not therefore be regarded 8S Suitable to be used or relied on by any paty
wishing to acquire rights against us other than the Charity for any purpose or In any context. Any paty
other than the Charity who obtains access to our report or a copy and ch¢x)ses to rely on our report (or
any part of it) wlll do so at its own risk. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than the Charity and the trustees. as a body, for our audit work, for this
report or for the opinions we havè fonn8d.
Andrew Kevitt FCA
for and on behalf of
Walsh O'Brlen Harnett
Charlered Accountants. Statutory Audlt Fimi
104 Lower Baggot Street
Dublin 2
2Clh July 2023

Dominican Fathers Newry
Statement of financial activities
for the year ended 31 D8C8mber 2022
Note
Unrestrlcted Restrlcted
Fund
Fund
Total
2022
Total
2021
Incomlng resourcos from generated funds and
charltable acllvStles'.
Church and house income
Interest and investment income
Other income
313,542
121,655
435,197 397,716
17
2.100
4,605
4605
Total Incomlng resources
318,147
121,655
439,802 399,833
Resource8 expended on generatlng funds,
Charltable actJvltle8 and other costs..
Employment costs
Health and educational
Property expenses
other costs of church and hous8
Depreciation
Bank interest and charges
89,984
35,267
78,119
194,552
8,314
3.219
12.905
102,889 79,870
35,267 23,590
169,819 175,918
223,881 182,703
8,314
6.900
3.219
2,752
91,700
29,329
Total resources expended
409,455
133,934
543,389 471,733
Net (deflclt) beforn other recognlsed galn$
and losses
{91,308) (12,279)
(103,587) (71,900}
Other recognlsed galns and lossas
(Loss) IGain on investment assets
Gain l (Loss) on revaluation of fixed assets
(43,161)
8,000
(43,161) 42,364
8,000 (10,000)
Net movement In fvnds
Total funds brought forward
(126,469) (12,279)
879,761
12,279
(138,748) (39,536)
892,040 931,576
Total funds carrled forward
753.292
753.292 892.040
Net surplusl(deficit) arises from the Charity's continuing operations.

Dominican Fathers Newry
Balance sheet
as at 31 D8cember 2022
Note
2022
2021
Flx•d assets
Tangiblè fixed a888t8
Inv8Stments
191,954
490,156
178,795
601,9&5
682,110
780,780
Current assets
Bank and cash
84,485
124,065
485
124,065
Current Ilablllt108
Credltors
(13,303)
(12,805)
Net current assets
71,182
111,260
Ngt asjgts
753,292
892,040
Ro$erves
General purpose fund
Designated fund
Restrlct6d fund
3,292
750,000
129,761
750,000
12,279
753,292
892,040
Approved and authorlsed for issue by the Trustees on and slgned on tts behalf by..
Trustee
Trustee
10

Dominican Fathers Newry
Cash flow statement
For the year ended at 310ecember 2022
Note
2022
2021
Cash flows from operatlng actlvltles
(Deficit) for the year
Adjustments for..
Depreciation
Gain on disposal of fixed assets
Interest payable and similar charges
Interest receivable and slmilar income
(103,587)
(71.900)
8,314
(4,005)
3,219
6,900
(1,900)
2,752
(17)
(96,059)
{64,165)
Increasel(decrease) In creditors
498
(4.161)
Not cash (outtlow) from operatlng actlvltles
(95,561)
(68,326)
Cash flows from Investlng a¢tlvltlo8
Proceeds from sale of investment funds
Payments for purchase of investment funds
Proceeds from sale of fixed assets
Payments for purchase of fixed assets
Interest payable and simllar charges
Interest receivable and slmilar income
68,668
114.350
(145,298)
4,250
(26,500)
(2.752)
17
5,600
(15,068)
{3,219)
Net ¢ash Inflow l {oufflow) from Invutlng actlvltles
55,981
{55,933)
Net (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of y8ar
(39,580)
124,065
(124,259)
248,324
Cash and cash •qulvalent8 at end of yoar
84,485
124,065

Dominican Fathers Newry
Notes
fom7ing part of the non-statutory financial statements
Accountlng pollcles
Dominican Fathers Newry ("the Charity") is a community of the Dominican Order Communitles, Irish
Provlnce, which is a province of The Charity of Preachers, a Catholic religious order founded on 22
December 1216 by Saint Dominic de Guzman. The Charity registration number is 101350.
The non-statutory financial statements have been prepared by the Dominican Fathers Newry to
present the stat8m8nt of financial activity and balance sheet of the Domlnlcan Fathers Newry. Th8
non-statutory financial statgments are prepared in accordance with Financial Reporting Standard 102
The Financial Raporting Standard applicable in the UK and Republic of Ireland ("FRS 102.). Th6
presentation curr8ncy of these non-statutory financial statements is Sterling. The Dominican Fath8rs
Newry has tak8n reasonable steps and controls to ensure that, as far as it reasonably can, it is
satisfied that the income as recorded is complete.
The accounting policies set out below have, unless othe￿1$9 stated, been applied conslstently to all
periods presented in these flnancial statements.
Judgements made, in the appllcatlon of these accounllng pollcles that have significant effect on the
financial statements and estimates with a significant risk of material adjustment in the next year
include the valuation of tanglble fixed assets. An indep8nd8nt professional valuation of the propety
assets was carried out by GVA Donal O'Buachalla prop8ty consultants at 31 December 2022.
Although the property asset valuation is conducted externally by an Independent valuer, the nature of
valuation estimates are inharently subjective and requires the maklng of significantjudgements and
assumptions by the Charity and the valuer.
1,1 Measurement conventlon
The tlnancial statements are prepared on the historical cost basis except that the followlng assets
and liabilities are stated at their falr value: property assets measured in accordance with the
revaluation mod81; inv8stments that can be measured reliably are measured at fair value with
changes recognisad In the statement of financial activities.
1.2 Golng concern
The Trustees continue to monltor the financial position of the Charity and on the basis of this review
are confid8nt the Charity has sufficient resources to continue in operational existence for the
foreseeable futur8.
1.3 Forelgn currency
Transactions in foreign currencies are translated to the Charity's functional currency at th8 for8ign
exchange rate ruling at the date of the transaction. Monetsry assets and liabilities denominated in
foreign currencies at the balance sheet date are retranslated to the functional currency at the foreign
exchange rate ruling at that date. Non-monetary assets and liabilitles that are measured in terms of
historical cost in a foreign currency are translated using the exchange rate at the date of the
transaction. Non-monetary assets and liabilities denominated in foreign currencies that are stated at
fair value are retranslated to the functional currency at foreign exchange rates ruling at the dates the
fair value was determined. Foreign exchange differences arising on translation are recognised in the
statement of financial activities.
12

Dominican Fathers Newry
Notes (continued)
Accountlng polici88 (continued)
1.4 Baslc flnanclal Instruments
Trade and other debtors/credltors
Trade and other debtors are recognised inrtially at transaction price plus attributable transaction
costs. Trade and other creditors ar8 recognlsed initially at transaction price less attributable
transactlon costs.
Invostments
Investments are measured initially at transaction price less attributable transaction costs.
Subsequent to init181 recognition. investments that can be measured reliably are measured at fair
value wlth changes recognisad in the statement of financial activities.
Cash and Cash equlvalents
Cash and cash equlvalents comprSse cash balances and call deposlts.
1.5 Tanglble assets and depreclatlon
Pmperty assets
(l) Ecclesiastical property assets
Eccleslastical propety assets are held at nil value as the unique characterlstics of those assets
r8nd8rs them Incapable of meaningful valuatlon. These properties ar8 of a publlc nature, have
historical slgnlficance and are generally protected structures. Restoration costs are written off to the
statement of flnancial activities as incurred.
(li) Other land and building pmperty assets
Other land and building propety assets relate to all remaining land and bulldlng property assets
owned by the Charity. These are independently valued on an annual basis. Galns and losses on
revaluation are recognised in the ststement of financial activits'es.
(iiij Historic treasures and oth8r religious artefacts
Historlc treasures and other r81igious artefacts are not capitalised as a valuatlon is not considered
practical. Such items are in the possession of the Charity, were created for use In religious worship or
devotion and continue to be us8d for these purposes. The Charity has no intentlon of disposing of any
of the hlstoric treasures or oth8r r81igious artefacts.
Other tanglble flxed assets
All other tsngible fixed assets are stated at cost, less accumulated depreclatlon.
The charge for depreciation is calculated to write down the cost of tanglble fixed assets to their
estimated residual values by equal annual instalments over their expected useful lives which are as
follows:
Motor vehicles
5 years
Provision is also made for any Impairment of tangibl8 fixed assets.
13

Dominican Fathers Newry
Notes (continued)
Accountlng pollcles (continued)
1.6 Impalmient excludlng stocks
Flnanclal assets (Includlng trade and other debtors)
A financial asset not carried at fair value through the statement of financial actlvltles is assessed at
each reporting date to determine whether there is objectlV8 evidence that It Is impaired. A financial
asset is impaired If oblective evidence indicates that a108s event has occurred after the initial
recognition of the asset, and that the loss event had a negativ8 effect on the estimated future cash
flows of that asset that can be estimated reliably.
An impairment loss in respect of a financial asset measured at amortised cost is calculated as the
difference between its carrying amount and th8 present value of the estimated future cash flows
discounted at the asset's original effective interest rate. For financlal instruments measured at cost
less impalment an impairment is calculated 88 the difference belmeen its carrying amount and the
best estlmate of the amount that the Charity would receive for the asset if It were to be sold at the
reportlng dat8. Interest on the imp8ired asset continues to be recognised through the unwinding of
the dlscount. Impairment losses are recognised in the statement of financlal activity. When a
subsequent event causes the amount of impairment loss to decrease, the decrease in impairment
loss is reversed through the statement of financial activity.
1.7 Employee beneflts
The penslon scheme is a defined contribution pension arrangement, whereby the employer
(Dominican Fathers Newry) contributes a percentage of each staff members. salary to the pension
sch8me which accumulates over the staff member's period of employment to provide a fund at
retirement from which the staff member can take benefit in Ilne wlth leglslatlve and tax limits.
1.8 Provlslon8
A provision is recognlsed in the balance sheet when the Charity has a present legal or constructive
obligation as a result of a past event. thal can be reliably m8asur8d and It is probable that an oufflow
of economic benefits wlll be required to settle the obligation. Provisions are recognised at the best
estimate of the amount required to settle the obligation at the reportlng date.
1.9 Incoma r•¢ognlllon
Church and house Income, gifts and donations, income from propertles. fundraising and surKIry
income are recognised on a cash receipts basis. L8gacies are recognised when received. Mass
stipend income Is recognised when the Mass is Celebrated. Income received in respect of Masses
not yet celebrated is included as deferred income. Interest and investment income are recognised
when received.
1.10 Expénses
The cost of activities of the Charty are accounted for when they become payable.
Interest rncelvable and Interest payabla
Interest receivable and similar income include interest receivable on funds invested and net for8ign
exchange gains. Interest payable and similar charges include interest payable and n8t foreign
exchange losses that are recognised in the statement of financial activity (see foreign currency
accounting policy).
14

Dominican Fathers Newry
Notes (continued)
Accountlng pollcl6$ (continued)
1.11 Restrlcted tunds
Restricted funds can only be used for the particular restricted purposes of the Charity. Restrictions
arise when specified by the donor or when funds are raised for a particular restricted purpose.
1.12 Unrestrlcted funds
The unrestricted funds of the Charlty comprise general purpos8 funds and deslgnated funds.
Gen8ral purpose funds are retained to cover future direct charitable costs, general support costs,
and Investment management costs.
Designated funds are those parts of the ChaTIty's unrestrlcted funds designated to be used for a
partlcular purpose in the future.
1.13 Taxatlon
The Charity Commission for Northern Ireland number of the Dominican Order Is 101350. The
Charity has tax exemption.
Income
2022
2021
Church and house income
Interest and investment income
Other Income
435,197
397.716
17
2.100
4,605
439.802
399.833
Deflclt before other rocognlsed galn8
and losses
2022
2021
Defjclt before other recognised gains and losses
is stat8d after charging..
Depreciation
8.314
6.900
Employees numbers and costs
The numb8r of persons employed during the year was 6 (2021.. 6). The aggregate amounts paid to
the above staff are as follows:
2022
2021
Wages and salaries
Social welfar8 costs
Employee pension contribution
85,923
6,286
10,680
66,903
3.865
9,102
102,889
79.870
15

Dominican Fathers Newry
Notes (continued)
Flxed assets
Motor
vehlcles
Pn)perty
Total
Cost
At 1 January 2022
Additions for year
Disposals for year
Revaluation
156,000
50.495
15,068
(7,995)
206,495
15,068
(7,995)
8.000
8,000
At 310ecombar 2022
164,000
57,568
221,568
Depre¢latlon
At 1 January 2022
Charge for year
Disposals for year
27,700
8,314
(6,400)
27,700
8,314
(6,400)
Al 310ecombor 2022
29.614
29,614
Not book value
At 31 Dac•mbor 2022
164,000
27,954
191,954
At 1 January 2022
156,000
22,795
178,795
An independent prof8ssional valuatlon of the property assets was carried out by GVA Donal
O'Buachalla propaty consultants at 31 December 2022. Such propety assets are valued on a
market value basis.
Investments
2022
2021
Investment fund
490,156
601,985
Investment funds comprise professionally managed investments which are primarily quoted.
Investments ar8 ca￿lad at market value at each reporting date.
16

Dominican Fathers Newry
Notes (continued)
Crodltors and accruals
2022
2021
Accruals and other creditors
13,303
12,805
13,303
12,805
Reconclllatlon of reserve8
General
purpose fund
Deslgnat•d
fund
Reslrlcted
fund
Tolal
Balance at 1 January 2021
(Deficit) for the financlal year
169,297
(39,536)
750,000
12,279
931,576
(39,536)
Balance at 31 December 2021
(Deficit) for the financial year
129.761
{126,469)
750,000
12,279
(12,279)
892,040
(138,748)
Balance at 31 December 2022
3,292
750,000
753,292
Commltmenls
Capltal commttmants
The Charity had no capltal commitments at 31 December 2022.
10 Post balance sheet events
There have been no other events subséquent to the year end that would require disclosur8 in, or
adjustment to, the financlal ststements.
11 Approval of flnanclal statements
The financlal statements were approved and authorised for issue by the trustees on 19th July 2023.
17