Dominican Fathers Newry
Non-8taiutory financial statements
Yttr ondod 31 Decemb•r 2023

Dominican Fathers Newry
Non-statutory financial statements
Contents
Page
General infortion
Trustees, report
Statement of Trustees, re8pon8lbllltleg
Independent audltorf8 report to the admlnlstrators on the non4tstutory
finarKlal str1e￿nts of the Dominican Fathers Newry
Statement of financlal activit108
Bal8n¢e Sheet
10
Ca8hkni Statement
11
fomilnooL_. _
rt of the non4tstutory financtal statéments
12-17

Dominican Fathers Newry
General information
Trustse•
Davkl Tohill O.P. (Prior)
John Harr18 O.P.
Iliam Davld Walker O.P,
Addre88
St. Calherine's Priory
Dominic Streèt
Newry
Co. Down
Auditor
Walsh O'8rien Ham•t(
104 Lower 88ggot Street
Dublln 2
Bankern
First Trust B￿k
Allied Irish Banks
sollcltorn
S.C. Connally & Co.
39 Hlll Street
Newry
Co. Down
Charlty rngl•tratlon numb•r
101350

Dominican Fathers Newry
Trustees, report
The Trustees of th8 Dominlcan Father8 Newry present thelr annual report and no￿statUtory ￿anCIal
ststeff£nts for the year erKled 31 December 2023.
Prlnclpal actlvltle8
The Dominican Fathers Newry is a Community of Friars INing in Dominic street. Ntrwry and having
Priory Church that is open to the wbllc for participation in religious serviGes or quiet pr8y8r or reflection.
The Dominican Fathers Newry Is part of the Irish Province of the Dominicans (Order of Frlars Preachers).
The Dominicans were founded by St Dominic da Guzman in 1216 with the purpose of preaching the
Gospels.
The principal activity of the Dominicsn Fathers Newry is the advanc8m8nt of rellglon and education to the
public in Northem Ireland. The Dominlcan Fathers Newry achieve this objective by adapting to the need3
of the Christian Community in order to raise awareness and understanding of religious beliets and
pr8Cticè8.
Communty members are invofved In a broad Spectrum of religious and social activty including
Chaplaln¢y, missionary work, teaching, and literary work such as wnting, publtshlng and research.
Conjnunity rnembers participate In Charitable works and groups, and are available to Indlvldual members
of the public who wosh to Consu￿ them on matters of faith, spiritual life or soclal Issues. In th15 way the
Domlnican Fathers Newry en8UTa a real religious. ￿la1 and educational benefit to a broad range of
people.
Publlc b•noflt
A direct Publlc benefft comès from the Charlty to the spiritual, physical and mental wellbelry of the
Catholic and wider Communities in the Newry area. publ￿ benefi't 15 SUPPOrted and served by the
Dominican Fathers who conduct Religious seNices such as masses and other worshlp, wlth a special
emphasis on the promotion of Confession, and Religious Educats'on through retreats, novenas, bible
medltatlon and other courses or lectures. Members of the public are ancour8god to participate In daily
masses, Eucharists'c adoration, bible studies in the nLwily built Lectio centre and various prayer groups.
The Community is mindful of those unable to attend Church through age, Infirmlty or belng away from
Newry and thelr involveff£nt is facilitated by an "on-line. broalczst of Church ￿remonIes. The
Dominican Fathers Newry can also facilitate the public through indrvldual Rellglous cerernonies such as
baptisms, marriages and ftjnerals. Members of the Corrrnunity are available to a person in need of rTh)ral
support or comfort to d8al with life's difficulties in bereavement, illness or misfortune. Tho Importance of
the Charity within Newry is evident from the number of people willing to volunteer their tlme and
parttcipate in Religious practice, and active Involvement is to evaryone's benefit.
The Domlnican Fathers Newry hokl a charitable obj'ective and in addition to involvement in social and
other w(Yks make or organise significant donations to 8 number of grjxl causes locally and abroad.
These include holding a special collection each Monday for a nominated charty. and regular donations to
worthy causes.
Flnanclal rnvl•w
The statement of financial activities for 2023 is contained on page g. This dlscloses income of the Charty
at £483,689 (2022." £439, 802). Expenditure in 2023 totalled £426,699 (2022.. £543,389).
The balan￿ sheet for the Dornin￿an Fathers Newry is on page 10. This discloses a financial base,
largely comprising bank accounts, Invesknents and property. The Charity's reserves amount to
£844,804 (2022." £T53.292J.

Dominican Fathers Newry
Trustees, report (contin ued)
The Dominican Fathers use these reserves to support the furtheranc8 of their mission to praach the
Gospel by funding its charitable, preaching, educ8b'on. care and other obllgations.
Statement that the Trustees have had regard to the Charlty Commls81on for Northern Ireland
public benefit requlrement statutory guidance
The Trustees confirm that they have Complied with the requirements of Section 4{8) of the Chanti88 Act
(Northern Ir8land) 2008 to have due regard to the public benefit guidance published by the Charlties
Commission for Northem Ireland in determining the activities undertaken by the Charity. Throughout this
Annual Report the Trustees Seek to demonstrate that the aims and objectives of the Dominican Fathers
Newry are for the public benefiL
Structurei govomance and management
Thè operations of the Dominican Fathers Newry ara overseen by the Truste8 Board. Trustees are
appointed by the Community of Fri8rs in Newry and the Provincialate of the Dominican Order in Ireland.
Trustees are Dominican Friars and r8crultment is b88ed upon their knowledge, skllls and experiencé
necessary for overseeing the affalrs of the Charity to en3ure it is solvent, well run and achleves the
purposes k)r which rt was establi5h8d.
Rl•k management
The Trustee Board actively reviews all major strategic and operational risks ta which the Charity is
exposed and confirms these have been r8vi8wed and that Strategies and systems aR e3tabli8hed to
manage exposure to these risks. The main risk areas for the Dominican Fathers Newry compri*:
Compliance with Health and Safety and listed buildings legislation
Safeguarding
Maintalnlng Church Income in the modern Soclety
Reductlon in reserves due to maintenance of buildings
Impact of aging In Community Membersh￿18nd cor¥Jregats'ons
Safeguardlng
The Dominican Fathers Newry adheres to best praclice child protecb'on and vulnerable adult safeguardlng
practices which is overseen by the safeguarding office of the Dominican Order in Ireland. This
safeguarding office is managed by a lay person who ig a qualifi'ed and experienced social woiker. The
role of the safeguarding offic8 is to develop, implement and oversee best practice children and vulnerable
adult safeguarding pro￿du￿5 for the Province which include5 the Dominican Fathers Newry. This is
done in accordance with the National Board for Safeguarding Chlklren in the Catholic Church in Ireland's
(NBSCCCl> Standards and Guidance document.
Future plans
The Doffinican Fathers Nawry will continue the activitiés deiailed already in this report and seek to
develop further, particularly promoting involvement in Lectio Devina. The Community has property,
nam8ly the Church, Priory. Lectio Centre and other ancillary bulldings. These need careful maintsnarK8
due to their age, historical significance and avalability for worship to the general public. A fundraising
Committee contlnues valuable work on raising funds for essential renovations. In a relativety short ts'me
period, substantial monies have been raised without whtch ienovations would be imposslble. Our thanks
to all persons contributing to the fundraising and the volunteers on the Committee for their dedicab'on.

Dominican Fathers Newry
Trustees, report (continued)
Persons Involved wlth the Charlty
The Dominican Fathers Newry acknowledges with gratitud8 th8 SUPPOrt of the people of Newry who mean
so much to our Community. It would tre very difficult to continue our Mission in Newry without the many
people who give their time in such a variety of ways to the Charity and to our dedicated Stsff Wr￿Se Input
to the Charity is so important and valu8d.
D18c1￿urO of Inforniatlon to Audltor
Eacth pers{￿ who 13 a trustee at the date of approval of this ￿pOrt confirnis that.
there is m relevant audit information linfom*tion need8d by the ch8rity's auditor In connecdon with
preparing the auditovs report) of whlch the charity's auditor is unaware, and
the trustees have taken all the steps that they ought to hav8 tak8n as trustees In order to mak8
themselves aware of any relevant audit Infomiation and to establish that tha charity's auditor is aware
of that information.
Approved and authorised for issue by the Trustees on 2
and signed on Its behalf by:
Trus
Trustee

Dominican Fathers Newry
Statement of Trustees, responsibilities
The administrators of Dominican Fathers Newry ("the Charity") have accepted responsibility for the
preparatton of these non-statutory financial statements for the year ended 31 December 2023 for the
purpose and on the basis as set out in note 1 to the non-statutory financial statements. The
administrators have elected to prepare the financial statements in accordance with applicable law and
FRS 102 The Financial Reporting Standard applicable in the UK and Republlc of Ireland.
In preparing the non-statutory financial statements, the adminlstrator has:
selected sultable accounting policies and then applied them consistently,"
made judgements and estimates that are reasonable and prudent: arKI
prepared the r￿n-Ststutory financial statements on a going concern basis as they believe that the
Charity wlll continue in business.
The administrators are responsible for keeping adequate accounting records which disclose with
reasonable accuracy at any time the financial position of the Charity. They have a general responsibility
for taklng such steps as are reasonably open to them to safeguard the assets of the Charity arHI to
prevent and detect fraud and other Irregularities.
Approved and authorised for Issue by the Trustees on 24th July 2024 and slgned on its behalf by..
John Harri8 0.P.
Trustee
David Tohlll O.P.
Trustee

Independent auditorfs ￿port to the administrators on the non-statutory financial
statements of the Dominican Fathers Newry
Report on tho audit of the finanelal statements
Opinion
We have audited the non-statutory financial statements of Dominican Fathers Newry ('the Charty.) for the
year ended 31 De￿rnber 2023 set out on pages 9 to 17, which comFxise the ststement of financial
a¢tivities, balance sheet and related notes, including the summary of significant ￿oUnting policies set
out in note 1. Th888 non-statutory financial statements have been prepared for the reasons 88t out in
note 1. The financial reporting framework that has been applied in their preparatlon is FRS 102 The
Financial Repo￿ng Standard applicable in the UK and Republio of Ireland.
In our wnlon, the non4tatutory financial statements..
give a true and fair view of the state of Charity's affairs as at 31 Oa¢embef 2023 and of Its
surplus for the year then ended;
have been properly prepared in accordanc8 wlh FRS 102 The Fin8nci81 Reportlng St8ndard
8ppIic8ble In the UK snd Republic of Ireland, and
have been properly prepared in accordance with the requirements of the Charities (Northarn
Ireland) Act 2008 and Regulati￿ 8 of the Charities Accounts and Reports (Northern Ireland)
Regulation 2015.. and
have been properly prepared in accordance with the accounting pollcies and ba818 of
preparats'on Set out in note 1
8as18 lor opln
We conducted our audit in accordance wlth Intem8tional Standards on Audiknng (UK) (ISAS (UK)) and
applicable law. Our ￿SponsIbl11t1es under those standards are fijrther described in the Audito¢s
responsibilities for the audit of the non-statutory financial st8tement5 section of our report. We are
independent of the Charity in accordance wlth eth¢cal reqUIre￿￿nts that are relevant to our audit of
financial st8tem8nts in the UK, induding the Financlal Reportlng Council (FRC)'s Elhical Standard. and
we have fulfilled our other ethical ffjsponsibilities in accordance with these requirements.
We believe that the audit eviden(x wa have obtained is sufficient and approprlats to provide a basis for
our opinlon.

Independent auditor's report to the administrators on the non-statutory financial
statements of the Dominican Fathers Newry (continued)
Report on the audil of the flnanclal statrnnts (continued)
Wa hayo nothing to r•port on golng concern
The trustees have prepared the financial staternents on the golNJ concern basls as they do not intend to
liquidate the Trust or to cease its operations, and as they have concluded that the Trust's financial
position means that this is realistic. They have also concluded that there are no material unc8rtainties
that could have cast slgnificant doubt over ts ability to continue as a going concern for at least a year from
the d* of approval of the financial statements ("the going conGem period").
We are required to report to you rf ￿ have concluded that the use of the golng con¢em basls of
accounting is inappropriate or the￿ is an undisclosed material Un￿rtaInty that may cast significant doubt
over the use of th8t basis for a perlod of at le8St a year from th8 date of approval of the financial
8tatsm6nts. We hav6 nothlng to report in these respect&
However. as we cannot predict all future events or conditions and as subsequent events may result in
outcomes that are inconsistent wilh Judgements that were reasonable at the time they were made. the
absence of referen￿ to a material uncertainty in this auditorfs report is not a guarantee that the Chanty
will contlnue in operatbon.
Oth•r Informatlon
The Trustees are responsible for the p￿paratIon of other inf0m￿tIOn presented In the Annual Report
together wlth the non-statutory financial statements. The other infomiakn'on comprises the infomiation
included in the Trustees, report. The rK)n-statutory financtal statements and our auditorfs report ther•on
do not comprise part of the other information. Our opinion on the non-ststutory financial statern8nts does
not cover thè other information arKI we do not express any form of assuran￿ conclusion on that
information.
Our responsibilty 15 to read the other information and, in doing so, consider whether, based on our non-
statutory finaT￿la1 Statement audit work, the infonnation therein Is materlally misststed or inconslstent with
the non-statutory financial statements or our audit knowledge. Based sorely on that work, w• have not
Identified material misstatements in the other information.
Alatt•r8 on whlch w• ar• rwulrnd to rnport by •x¢•pdon
In connedion with our audit of the financpl statements, ISAS (UKI r8qulre that we read the other
infarmation ar#J, in (toing so, con5Kler whether that Information is materralty inconsistent wilh the financial
8tstements or our knthvkdge obtalned from Our audit work. or otherwise appears to be materially
misstated.
ISAS {UK) requre that we repirt to you if, based on the knowledge we acquired during our audit, we have
identrh'ed informatlon in the annual report that contains a mater6al inconsist8ncy wlth either that knowledge
or the financial statements. a material misstatement of fac( or that is otherwise misleading. Vve have
nothing to ￿pOrt in this regard.
Under the chariiies (Northern Ireland) Act 2008 and Regulation 8 of the Charities Accounts and Reports
(Northern I￿land} Regulations 2015 we are required to report to you if, in our q)inion:
adequate accounting records have not been kept, or retums sdequats for our audit have not
been re￿Ived from branches not visited by us", or
the financial ststements are not in agr*ment with th8 accounting records and returns" or
we have not receNed the infom7ation and explanations.
We have nothing to report in respect of Ihe above responsibilities.

Independent auditorfs report to the administrators on the non-statutory financial
statements of the Dominican Fathers Newry (continued)
Respective responslbilities and restrictions on use
Rosponslblllties of Trustees for the non-statutory flnancial statements
As explained more fully in their statement set out on page 5. the Trustees are responsible for". the
preparation of the non-statutory financial statements, which are intended by them to give a true and fair
view., such internal control as they determine is necessary to enable the preparation of non-ststutory
financial statements that are free from material misstatement, whether due to fraud or error.. assessing the
Charity's ability to continue as a going concem, disclosing, as applicable. matters related to going
concem; and using the going concern basis of accounting unless they either intend to liquidate the Charty
or to cease operations, or have no realistic alternative but to do so.
AudIt0￿$ responslbllltles for tho audlt of the non-statutory flnanclal statements
Our objectives are to obtaln reasonable assurance about whether the non-ststutory financial statements
as a whole are free from material misstatemenl, whether due to fraud or error, and to issue an audltor's
report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a
guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material
misstatement when it exlsts. Misstatements can arise from fraud or error and are considered materlal if,
Individually or in the aggregate. Ihey could reasonably be expected to influence the economic decislons of
users taken on the basls of these financial Statements.
A fuller description of our responsibilities Is provlded on the FRC'S website at
w￿W.frc.
.ukJauditorsr
nsibili
The purpos• of our audlt work and to whom we owe our responslblllttes
Our report has been prepared for the Charity solely in connection with our engagement letter dated 1 It
June 2022. It has been released to the Charity on the basis that our report shall not be copied, referred to
or disclosed, In whole (save for th8 Charity's own intemal purpowJ) or in part, wlthout our prior vffltten
consent.
Our report Is made solely to the Trustees in accordance with Section 65 of the Charities {Northem Ireland)
Act 2008. Our report should not therefore be regarded as suitable to be used or relied on by any paty
wishlng to acquire rights against us other than the Charity for any purpose or in any context. Any paty
other than the Charity who obtains a¢￿sS to our report or a copy and chooses to rely on our report (or
any part of it) will 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 trustee8. as a body, for our audit work, for thls
report or for the opinions we have formed.
Andrew Kevitt FCA
for and on behalf of
Walsh O'Brlen Hamett
Chartared Accountants, Ststutory Audlt Fln
104 Lower Baggot Street
Dublin 2
August 2024

Dominican Fathers Newry
Statement of financial activities
for the year endpd 37 DeGember 2023
Note
Unrestrlcted R?stricted
Fund
Fund
Total
2023
Total
2022
Incomlng rosources from generated funds and
charltable activitie8:
Church and house income
Interest and investment income
Other income
344,799
30
750
138,110
482,909 435,197
30
750
4,605
Total Incomlng resource8
345,579
138,110
483,689 439.802
Resourc88 expended on generatlng funds,
charitable actlvities and other costs:
Employment costs
Health and educational
Property expenses
Other costs of church and house
Depreciation
Bank interest and charges
103,871
19,473
55,409
197,720
8,314
3,240
11,726
115,597 102.889
19,473 35,267
68,139 169,819
211,936 223,881
8,314
8.314
3,240
3,219
12.730
14.216
Total re80urce8 expended
388,027
38,672
426,699 543,389
Net surplug1{d6fieit) before other recognised
galn$ and Ioss•8
(42,448>
99,438
66,990 (103,587)
Other re¢ognised galns and losses
Gainl{Loss) on inveslment assets
(Loss)IGain on revaluation of fixed assets
37,522
(3.000)
37,522 (43,161)
(30001
8,000
Net movement In funds
Total funds brought forward
(7,926)
753,292
99,438
91,512 (138.748)
753,292 892,040
Total funds carried forward
745,366
99,438
844,804 753,292
Net surplusl(deficit) arises from the Charity's continuing operations.

Dominican Fathers Newry
Balance sheet
as at 31 D8cembar 2023
Note
2023
2022
Fixed assets
Tangible fixed assets
InvestrrEnts
180.640
470,637
191,954
490,156
651.2TI
682,110
Currant amets
Bank and cash
206,563
84,485
206,563
84,485
Curr￿1 liabllltl•s
Cr•ditors
1130361
113.303)
N•t currnnt u•ets
193.S27
71,182
N•t as•ets
844.804
753,292
R•8erv
Genetal purpose fund
Designated fund
Restricted fund
46A66
700,000
99.438
3.292
750,000
844.804
753,292
Approved and authorwd for issue by the Tnjstees on
and signed on its behalf by:
Trustee
10

Dominican Fathers Newry
Cash flow statement
Forthe ￿ar endsd at 31 December 2¢f23
Note
2023
2022
Cash flows from operathg acllvltl
Surplusl{DefKit) for the year
Adjustments for.
Depreciation
Gain on disposal of fixed 858ets
Interest payable and similar charges
Inlerest recelvable and similar Income
(103.587)
8.314
8,314
(4,005)
3,219
3,240
130)
68,614
{96.059)
(Decrease)finGre&8e in creditors
(265)
498
Nat cuh ￿k￿lI(0u￿10Wl from operatlng actlvlll
68249
{95,561)
Cnh flows from Investlng actMtle•
Proceods from sale of Investment funds
Proceeds from sale of fixed assets
Payments for purchase of fixed assets
Interest payable and similar charges
Interest receivable and simllar Income
67,039
68.888
5,600
{15,068)
(3,219)
{3,240)
N•t caBh Inflow from Inv•stlrvJ actlvltl•8
$3,829
55,981
Net increase1(dec￿8se) In cash and cash equlvalents
Cash and cash equivalents at beginning of year
122,078
84.485
(39,580)
124,065
Ca•h and ca•h •qufvahnts at •nd of y￿r
206,563
84,485
11

Dominican Fathers Newry
Notes
fDrming part of the non-statutory financial statements
Accountlng pollcles
Dominican Fathers Newry C'ihe Charity") is a community of the Dominr2n Order Communities. Irish
Province, which is a province of The Chaity of Preachers. a Catholic religious order founded on 22
December 1216 by Saint Dominic de Guzman. The Charity registratK)n number is 101350.
The non-statutixy financial statements have been prepared by the Dominican Fathers Newry to
present the stat8ment of financial activity and balance sheet of the Dominican Fathers Newry. The
non-slatutory financlal stsiements are prepared in accordan￿ with Financial Reporting Standard 102
The Finanoal Reporting Standard 8ppIiGabl8 in the UK and Republic of Ire18nd fFRS 102°). The
presentation currency of these non-statutory financial statements is Sterling. The Dominican F8that5
Newry has taken reasonable steps and controts to ensure that, as far as It reasonably can, it is
satisfied that the income as recorded is complete.
The accounting pollcl88 Set out below have, unless otherwlse Stated, been applied consistently to all
perKJdS presented in these financial statements.
J￿19aments mada, in the application of these accountlng policies that have signlficant effect on the
financlal ststements and eslimates with a signrficant risk of material adjustment In the next year
include the valuation of tsnglble fixed assets. An independent professional valuation of the propety
&888ts was carrled out by Avison Young propty consultants at 31 December 2023. Although the
prop8ty asset valuab'on is conducted extemalty by an independent valugr, the nature of valuats'on
estimates are inherently subj'active and requires the making of $IgnI￿antJUdg&rnenl$ and
assumptk)n8 by the Charity and the valuer.
1.1 MeaBurem•nt convonllon
The flnanclal ststement8 ar8 prepared on the hlstOriC81 cost basis except that the following assets
and liabilitses are stated at their fair value: property assets measured in accordance with the
revaluation model; investments that Can be measured reliabty 8re measured at fair value wSth
changes recognised in the staterrent of financial activities.
12 Golng concern
The Trustees continue to rnonitor the financial position of Ihe Charity and on the basls of this ￿vieW
are ￿ftd8nt the Charty has sufficient reSoU￿eS to continue in operats'onal existen￿ for the
foreseeable future.
1.3 Fornign ¢urrency
Transactions in foreign CU￿ncleS are translated to the Charity's functional currency at the foreign
exchange rate ruling at the date of the transaction. Monetary assets and l'abilities denominated in
foreign currencies at the balance sh￿t date ara retranslated to the functional currency at the foréign
exchange rate rnling at that date. Non-mnetary assets and liabilities that are measured in tern￿ of
historical cost in a foreign currenw are translated using the exchange rate at the date of the
transaction. Non-monetary assets and liabilities denominated in foreign currencies that are ststed at
falr value are retranslated to the functional cU￿encY at foreign exchange rates ruling at the dates the
fair value was determined. Foreign exchange drfferences arising on transl*'on aR recognised in the
Staterr￿nt of financial acts'vitles.
12

Dominican Fathers Newry
Notes (continued)
Accountlng pollcles (continued)
IA Ba8lc flnan¢Fal Instruments
Trad• and other d•btors/credltor8
Trade and other debtors are re￿gnised initially at transaction pnce plus attributable transaction
Costs. Trade and other crodrtiJr8 are r￿OgnISed infits'ally at transaction pri￿ less attributable
transaction costs.
Investments are measwed initially at transactKJn price le8s attributable transaction costs.
Subsequent to initial recognition, invéstments that can be measured reliaLty are measured at fair
value with Changes recognised In the statement of financial aGts'vities.
C•¥h and cash •qulval•nt8
Cash and ca8h equlvalents ￿mprise cash balances and call deposttg.
1.5 Tanglblg ag8et• and depr•elation
Property assets
(i? EcclesiastKal propety assets
Ecclesigstical prop8ty assets are held at nil value as the unique characteristics of those assets
render8 them incapable of meaningful valuation. These propert*s are of a wblic nature, have
historical significance and are generalty protected structures. Restoration costs are written off to the
statsffent of financial activlties as incurred.
(li) Other lend and building pmperty assgts
Other land and bulldlng propety assets relate to all remainlng land and building propety assets
owned ty th8 Charity. These are independenty valued on an annual basis. Galns and losses on
rwaluation are reo)gnised in the Statement of financial xtiviti'es.
(n'i) Histor￿ tr88sures and otherreligious artefact8
Histortc treaSu￿S arKI ottRr religious artefacts are nrrt capital18￿1 as a valuation is Th)t considered
prdctical. Such items are in the possession of the Charity, wwe created for use in religious vn)rship or
devotion and continue to be used for these purposes. The Charity has no intention of disposing of any
of the hlstork treasures or other religious artefxts.
Other tanglbl• f￿•d assets
JI other tanglble fixed assets are stated at cost, less accumulated depreciation.
The charge for depreciation is ealculated to write down the cost of tangible fixed assets to thelr
estlmated residual value5 by equal annual instalments over their expected useful live5 which are as
follows:
Motor vehides
5 years
Provision is also made fDr any impairm8nt of tsngible fixed assets.
13

Dominican Fathers Newry
Notes (continued)
Accountlng pollcles (￿)ntInued)
1.6 Impalmi•nt oxcludlng Stocks
Flnancial &￿ets (Ineluth"ng trade and other debtors)
A financial asset not carried at fair value through the statement of financi81 actNities is assessed at
each re￿rtIng date to detemiin8 whèthar there is obiectlve evidence that It Is ImpaI￿d. A financial
asset is impaired if objectwe evidenc￿ indicat88 that a loss event has occurred after the initial
recognition of the assoc and that the loss event had a negatlve effect on the estlmated lutura cash
flows of that asset that can b8 estimated reliably.
An impairment bss In respect of a financial asset measured at amortlsed cost is calculated as the
drfferènce ba￿ten its carrying amunt and the present value of th8 ostimated fu￿re cash flows
discounted at the asset's Lyiginal effecb've interest rate. For financi81 irtstruments measured at cost
less impaiment an impaimient is calculated as the difference beiween its carrylng amount and the
best estimate of the amount that tha Charty would re￿1Ve for the asset rf it were to be 501d at the
reporting date. Inter8St on irnpalred asset continues to be recognised through the unwindln9 of
the discount. Inyairment losses are recognised in the statement of financial activity. When a
subsequent ¢vent Gauses the amount of impaiment loss to decrease, the decrease in impalrment
loss is reversed through the st*ment of financlal ￿tiVIty.
1.7 Employee benefits
The pension scheme is a defined contribution penslon arrangement, whereby the ernployer
(Domlnlcan Fathers Newry) contributes a percentage of each staff members, salary to the pension
scheme which accumulates over the staff memberfs period of employment to provide a fund at
retlrenxnt from whith staff member can take be￿fft in lirte with legislative and tax limits.
q.8 Provl•lon•
A provision is recognlsed In the balance sheet when the Chaiity has a present legal or constructp
obligation as a result of a past event, that can be reliabty measured and it is probable that an ouffiow
of economic benefrts viill be required to 8etde the obllgation. Provisions are recognised at the best
estimate of the amunt required to sett18 the 0b1igats.￿ at the reports.ng date.
1.9 Income recognltlon
Church and house income, gifts and donations, income from properties, fvndraising and sundry
i￿Orne are rec￿niSed on a cash receipts basis. Legacies are recognised when re￿￿ed. Mass
stipend income is recognised when the Mass is ￿lebrated. In(y)￿* received in respect of Masses
not yet celebrated is included as deferred income. Inte￿$t and investment income are recognised
when received.
1.10 Expernes
The cost of a¢Xivities of the Chwity are 8￿JUnted for when they become payable.
Interest roceNabh and Interestpayable
Interest receivatle and similar incorrR include interest r8ceivable on fund8 invested and net foreign
exchange gains. Interest Payable and similar charges include interest payable and net foreign
exchange losses thet are recognised in the statement of financial activity (see foreign currency
accounts'ng policy).
14

Dominican Fathers Newry
Notes (continued)
Accountlng policles (conlinued)
1.11 Restricted fund•
Restricted funds can only be used for the particular ￿$tricted purposes of the Charlty Restrlctions
arise when speclfied by the donor or when funds are raised for a particular reslricted purpose.
1.12 Unrnstrictad funds
The unrestrlcted funds of the Charlty comprise general purpc6e funds and designated funds.
Ge￿rat purpose filnds are retained to cover fubJr8 diract charltable costs, general support costs,
and inveslment management casts.
De31gnatad funds are those parts of th6 Charity's unrestricted funds deslgnated to be used for a
particular purpose in the future.
1.13 Taxatlon
The Charlty Commission for Northern Ireland number of the Dominican Order is 101350. The
Charity has tax exemption.
Incom•
2023
2022
Church and house incorne
Interest and investment income
Other incorne
482.909
435,197
750
4,605
483,689
439,8(r2
Surplusl(d•ficlt) beforn oth•r r•eognl8•d galn•
and IosM8
2023
Su￿us/(d8ficltJ other recognised gains and I0&￿S
is ststed after charging..
DepreGiatson
8.314
8,314
EmployeH numbern and costs
The number of p8rsons employed during the year was 6 (2022.. 6). The aggregate amo￿lS paid to
above staff are as frillows:
2023
2022
Wage5 and salwies
Soci81 welfare costs
Employee pension contribution
95,757
6,735
13,105
85,923
8,286
10,680
115.597
102.889
15

Dominican Fathers Newry
Notes (continued)
Flxed ass•ts
Motor
Vehlcles
Proporty
Totsl
At 1 January 2023
Additions for year
Dlsposals for year
Revaluab"on
164,000
57,568
221,568
(3,000)
(3.000)
At 31 Docombor 2023
161,orAI
57,568
218.668
Deprnclatlon
At 1 January 2023
Charge for year
Disp08als for year
29,614
8,314
29,614
8,314
At 31 Decembor 2023
37,928
37￿28
N•t book valu•
At 31 D￿ember 2023
161,000
19,640
180,640
At 1 January 2023
164,1)00
27,954
191,954
An Ind8p8ndent professlonal valuats'on of the propety assets was Carr￿ out ty Avlson Young
property consultants at 31 December 2023. Such property 838ets are valued on a market value
Invegtm•nt8
2023
2022
Investment fund
470,637
490,156
Investsnent fund8 comprise professlonally managed investments which arg primarily quoted.
Investments are carried at rnarket value at reportlng date,
16

Dominican Fathers Newry
Notes (continued)
Creditors and 8ccrua18
2023
2022
Accruals and other creditors
13,036
13.303
13,036
13,303
Raconclllatlon of re8erv•s
Gon8ral Deslgnated
purpose fund
fund
Rostrlcted
fund
Total
Balance at 1 January 2022
(Deflclt) for 2022
129,761
(126,469)
750.000
12,279
(12,279)
892.040
(138,748)
Balance at 31 December 2022
surplusl(def￿It) for the 2023
Transfers between reseNes
3,292
(7,926)
50,000
750,000
753,292
91,512
99,438
(50,000)
Balance at 31 December 2023
45,366
700,000
99,438
844.804
Commltment8
Capital commltments
The Charity had no capltal commitments at 31 December 2023.
10 Post balanca sheet events
There have been no other events subsequent to the year end that would require disclosure In, or
adjustment to, the financial statements.
11 Approval of flnanclal statements
The financial statements were approved and authorised for issue by the trustees on 24th July 2024.
17