Dominican Fathers Newry Non-statutory ftnancial statements Year onded 31 December 2024
Dominican Fathers Newry Non-statutory financial statements Conlents Page General information Trustees, report Statement of Trustees, responsibilities Independent auditor's report to the administrators on the non-statutory financial ststements of the Domlnlcan Fathers Newry Statement of financlal activities Balance sheet 10 Cashflow Statement Notes forming part of the non-ststutory financlal statements 12-17
Dominican Fathers Newry General information Trustses Patrick Desmond O.P. (Prior) John Harris O.P. William David Walker O.P. Address St. Catherine's Priory Dominic Street Newry Co. Dolvn Audltor Walsh O'8rlen Harnett, 104 Lower Baggot Street Dublin 2 Bankers First Trust Bank Soll¢ltors S.C. Connolly & Co. 39 HS11 Street Newry Co. Down Charfty reglstratlon number 101350
Dominican Fathers Newry Trustees, report The Trustees of the Dominican Fathers Newry present their annual report and non-statutory financlal statements for the year ended 31 December 2024. Prlnclpal actlvltles The Dominican Fathers Newry is 8 Community of Friars Ilvlng in Dominic Street, Newry arKJ having Priory Church that is open to the public for partScSpation in religious services or quiet prayer or reflection. The Dominican Fathers Newry Is part of the Irish Province of the Dominicans (Order of Friars Preachers). The Dominicans were founded by St Dominic (Je Guzman in 1216 with the purpose of preachlng the Gospels. The principal activity of the Dominican Fathers Newry is the advancement of rellglon and education to the public in Northern Ireland. The Dorninican Fathers Newry achleve thls objective by adapting to the needs of the Christian Community in order to raise awareness and understanding of religious beliets and practices. Community members are involved In a broad spectrum of religious and social activity includlng Chaplaincy, missionary work, teaching, and Ilterary work such as writing, publishing and research. Community members participate In Charltable works and groups, and are available to Individual member8 of the public who wish to consult them on matters of faith, spiritual lrfe or social issues. In this way the Dominican Fathers Newry ensure a real rellglous, social and educats'onal benefit to a broad range of people. Publlc benoflt A direct Public benefit comes from the Charity to the 8plrltual, physlcal and mental wellbeing of the Catholic and wider Communities in the Newry area. Public beneflt18 SUPPOrted and served by the Domlnlcan Fathers who conduct Religious services such 88 masses and other worshlp, with a special emphasls on the promotion of Confession, and Religious Education through retreats. novenas, bible medltatlon and other courses or lectures. Members of the public are encouraged to partlcipate in daily massas, Eucharistic adoration, blble studies in the newly built Lectlo centre and varlous prayer groups. The Community is mindful of those unable to attend Church through age, Inflrmlty or being away from Newry arKI their involvement is facilitated by an °on-line° broadcast of Church ceremonies. The Dominican Fathers Newry can also facilitate the public through indivldual Rellglous ¢eMonieS such as baptisms, marriages and funerals. Members of the Communlty are avallable to a person in need of moral support or comfort to deal with life's difficulties in bereavement, Illness or misfortune. The irnportance of the Charity within Newry is evident from the number of people willing to volunteer their time and participate in Religious practice, and actlve Involvement is to everyone's benefit. The Dominican Fathers Newry hold a charitable 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 holding a special collection each Monday for a nominated charity. and regular donations to worthy causes. Flnanclal revlew The statement of financial activities for 2024 Ss contsined on page 9. This discloses income of the Charity at £440.079 (2023.. £483, 689). Expenditure in 2024 totalled £419.787 (2023.. £426, 699). The balance sheet for the Dominican Fathers Newry is on page 10. This disGloses a financial base. largely comprlsing bank accounts. investments and propety. The Charity's reserves amount to £907,383 (2023." £844,804).
Dominican Fathers Newry Trustees, report (continued) The Domlnlcan 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 th• Charlty Commlsslon for Northern Ireland publlc beneflt requlrement statutory guldance The Trustees conflrm that they have complied with the requirements of Section 4(6) of the Charities Act (Northern Ireland) 2008 to have due reg8rd to the public benefit guidance published by the Charities Commission for Northern Ire18nd in determining the activities undertaken by the Charity. Throughout thls Annual Report the Trustees seek to demon8trate that the aims and objectives of the Dominican Fathers Newry are for the public benefit. Structur•• govgmance and management The operations of the Domlnlcan Fathers Newry are overseen by the Trustae Board. Trustees are appointed by the Communlty of Friars in Newry and the Provincialate of the Domlnlcan Order in Ireland. Truslees are Domlnlcan Frlars and recruitment is based upon their knowledge, skllls and experience necessary for overseelng the affalrs of the Charity to ensure It Is solvent, well run and achieves the purposes for whlch It was establlshed. Rlsk managernent The Trustee Board actively revlews all major strategic and operational risks to whlch the Charty Is exposed and confirms these have baen revlewed and that strategies and systems are establlshed to manage exposure to these risks. Th8 main risk areas for the Domlnican Fathers Newry comprise: Compliance with Health and Safety and listed buildings legislation Safeguarding Maintaining Church Incom8 In th8 modern SocSety Reduction in reserves due to maintenance of bulldin98 Impact of aging in Communlty Membership and congregatlons Safeguardlng The Dominican Fathers Newry adheres to best practice child protection and vulnerable adult safeguardlng practices which is overseen by the safeguardlng office of the Dominican Order in Ireland. Thls safeguar(ling office is managed by a lay person who is a qualified and experienced Soclal worker. The role of the safeguarding offlce Is to develop. implement and oversee best practice children and vulnerable adult safeguarding procedures for the Province which indudes the Dominican Fathers Newry. This is done in accordance wlth the National Board for Safeguarding Children In the Catholic Church in Ireland. (NBSCCCI) Standards and Guidance document. Future plans The Dominican Fathers Newry will continue the activities detailed already in this report and seek to develop further, particularly promoting involvement in Lectio Devina. The Community has propety. namely the Church. Priory. Lectlo Centre and other ancillary buildings. These need careful maintenance due to their age, hSstorlcal signlficance and availabilty for worship to th8 general public. A fundraising Committee contlnues valuable work on raising funds for essential renovations. In a relatively short time period, substantlal monles have been raised without which renovations would be impossible. Our thanks to all persons contrlbuting to the fundraising and the volunteers on the Committee for their dedication.
Dominican Fathers Newry Trustees, report (continued) Persons Involved wlth tha Charlty The Dominican Fathers Newry acknowledges with gratitude the support of the people of Newry who m8an so much to our Community. It would be very dIffUlt to continue our Mlssion in Newry without the many people who give their time in such a variety of ways to the Charity and to our dedicated Staff whose input to the Charity 18 so important and valued. Dlsclosure of Inforniatlon to Audltor Each person who18 a trustee at the date of approval of this report confimis that: there Is no relevant audit information (Informalion needed by the chariivs auditor in connection wlth preparing the auditorfs report) of whlch the charitys auditor 18 unaware, arKI the trustees have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audlt information and to 88tabllsh that the charity's auditor Is aware of that Infonnation. ApPrded and authorised sue by the Trustees on Ir and slgned on its behalf by: ste JaLn.( L)th2 Trustee
Dominican Fathers Newry Statement of Trustees, responsibilities The administrators of Dominican Fathers Newry {°the Charity") have accepted responsibility for the preparation of these non-statutory financial staternents for the year ended 31 December 2024 for the purpose and on the basis as set out in note 1 to the non-statutory financial ststements. The administrators have elected to prepare the financial statements in accordance with applicable law and FRS 102 The Financial Reportsng Standard applicable in th8 UK and Republic of Ire18nd. In preparing the non-statutory financial statements. the administrator has: selected suitable accounting pollcies and then applied them consl8tently; made judgements and estimates that are reasonable and prudent; and prepared the non-statutory financial statements on a going concern basis as they believe that the Charity will continue In business. The administrators are responsible for keeplng adequate accounting records whlch disclose with reasonable accuracy at any time the financlal position of the Charity. They have a g8neral resporvsibility for taking such steps as are reasonably open to th8m to safeguard the assets of the Charity and to prevent and detect fraud and other irregularltles. ved nd authorised for i y th& Trustees on 2025 and slgned on Its behalf by". 'Luts OR Wllllam Davld Walkor O.P. Trustee Trustee
Independent auditor's report to the administrators on the non-statutory financial statements of the Dominican Fathers Newry Report on the audit of the flnanclal statements Oplnlon We have audited the non-statutory financial statements of Dominican Fathers Newry ('the Charity'} for th8 year ended 31 December 2024 set out on pages 9 to 17, which comprise the statement of financial activities, balance sheet and related notes, including the Summary of significant accounting policies set out in note 1. These non-statutory financial statements have been prepared for the reasons set out in note 1. The financial reporting fram8work that has been applied in their preparation is FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. In our opinion, the non-statutory financial statements-. give a Irue and fair view of the stste of the Charity's affairs as at 31 December 2024 and of its Surplus for the year then ended. have been propedy prepared in accordance with FRS 102 The Financial Reporting Standard applicable In the UK and Republic of ireland., and have been properly prepared in accordance wrth the requirements ol the Charities (Northem Ireland) Act 2008 and Regulation 8 of the Charities Accounts 8nd Reports (Northern Ireland) Regulation 2015; and have been properly prepared in accordance with the accounting pollcles and basis of preparation set out in note 1 8asls for oplnlon We conducted our audit in accordance with Internatlonal Standards on Auditing {UK) (ISAS (UK}) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audrt of the non-statutory financial statements section of our report. We are independent of the Charrty in accordance with ethical requirements that are relevant to our audit of financial ststements in the UK, Includlng the Financial Reporting Council (FRC)'s Ethical Standard, and we have fulfllled our other ethical responsibilities in accordance with these requirements. We believe that the audlt evldence we have obtained is sufficient and appropriate to provide a basis for our oplnlon.
Independent auditorfs report to the administrators on the non-statutory financial statements of the Dominican Fathers Newry (continued) Report on the audlt of th• flnancial statements (continued) We have nothlnq to report on golng concem The trustees have prep8red the financlal statements on the going 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 rneans that this is realistic. They have also concluded that there are no matorial uncertainties that could have cast significant doubt over its ability to contSnue as a going concern for at least a year from the date of approval of the financial statements (°the golng concern period"). We are required to report to you if we have cOluded that the use of the going concern basls of accounting is inappropriate or there Is an undisclosed material uncertainty that may cast significant doubt over the use of that basls for a period of at least a year from the date of approval of the financial st8tem8nts. We have nothlng to report in these respects. However, as we cannot predict all future events or condFtlons and as subsequent events may regult in outcomes that are inconsistent with judgements that were reasonable at the time they were made, the absence of reference to a material uncertalnty In this audlto¢s rewt is not a guarant88 that the Charlty wlll contlnue in operation. Other Infomiatlon The Trustees are responsible for the preparation of other Infomiation presented in the Annual Report together with the non-8tatutory financial staternents. The other information comprises the informatlon Included In the Trustees, report. The non-statutory flnanclal statements and our auditor's r8PQrt thereon do not comprise part of the Other information. Our oplnlon on the non-statutory financial statements does not cover the other information and we do not express any form ol assurance conclusion on that Informatlon. Our respon8lbility is to read the other 5nform8tion and. Sn dolng 80, consider whether, based on our non- 8tstutory financial statement audit work, the informatlon therein is materially misstated or inconsistent wlth the non-statutory financlal statemants or our audit knowledge. Based solely on that work, we have not identlfied material misstatements in the other informatlon. Mattern on whlch we arn rnqulrnd to report by exceptlon In connection with our audit of th8 financlal statements, ISAS (UK) require that we read the other information and, in doing so, conslder whether that information is materially inconslstent with the financial statements or our knowledge obtalned from our audit YK)rk, or otherwise appears to be materially misstated. ISAS (UK) requ1 that we report to you if, based on the knowledge we acquired during our audit, we have idents'fied information in the annual report that contains a material inconsistency with either that knowledge or the financial statements, a material misstatement of fact, or that is othepNise misleading. We have nothing to rewt in this regard. Under the charities (Northern Ireland} Act 2008 Regulation 8 of the Charltles Accounts and Reports (Northem Ireland) Regulations 2015 we are required to report to you If, In our opinion.. adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not vSslted by us,- or the financial statements are not in agreement with the accounting records and returns; or we have not recelved all the information and explanations. We have nothir@ to report In respect of the above responsibilities.
Independent auditor's report to the administrators on the non-ststutory financial ststements of th8 Dominican Fathers Newry (contlnued) Respectlva respon51bllltles and rnstrictions on us• Responsibilities of Trnstees for the non4tatutory flnanclal statements As explalned mor8 fully in their statement set out on page 5, the Trustees are re8ponslble 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-statutory financial statements that are free from material rnls8tatement, whether due to fraud or error. assessing the Charity's ability to continu8 as a going concem, dSsclosing, as applicable, matters related to going concem., and using the golng concem basis of accounting unless they either intend to liquidale the Charlty or to cea88 operatlons, or have no realistic altemative but to do 80. Audltoff$ responslbllltles for the audlt of tho nonwstatutory flnanclal stalemants Our objectives are to obtain reasonable assurance about whethw the non-statutory financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance Is a hlgh level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) wlll always detect a material mtsstatem8nt when it exists. Misstatements oan arise from fraud or error and are considered material If, Individually or in the aggregate, they could reasonably be expected to Influence the economic declsions of users taken on the basis of these financlal statements. A fuller description of our responsibilities is provided on the FRC'8 webslte at .fr .or .ukl The pu0$• of our audlt work and to whom wa owo ourresponslbllltles Our report has been prepared for the Charlty solely In conn8Ction with our engagement lett8r dated 1st June 2022. It has been released to the Charity on the basis that our report shall not be copled, referred to or dlsclosed, In whole (save for the Charity's own internal purposes) or in part. without our prlor wrltten consent. Our report Is made solely to the Trustees In acGordance wrth Section 65 of the Charltles (Northern Ireland) Act 2008. Our report should not therefore be regarded as suitable to be used or relled on by any party wishing to acquire rlghts against us other than the Charity for any purpose or In any context. Any party other than the Charity who obtains access 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 permltted by law, we do not accept or assume responsibility to anyone other than the Charty and the twstees, as a body, for our audit work, for thls report or for the opinions we have formed. Andrew Kevitt FCA for and on b6half of Walsh O'Brlen Hamett Chartered Accountants. Statutory Audlt Flrm 104 Lower Baggot street Dublin 2 1Uh July 2025
Dominican Fathers Newry Statement of financial activities for the year ended 31 December 2024 Note Unrestrfcted R6strlctod Fund Fund Total 2024 Total 2023 Incomlng resourc6s from generated funds and charilable activities: Church and house income Interest and investment income other income 351.548 161 1.150 87,220 438,768 482,909 161 30 1,150 750 Total Incomlng r68ource8 352,859 87,220 440,079 483.689 R•8ources expended on ggneratlng funds, charltablo actlvltlos and other cost¥: Employment costs Health and educatlonal Property expenses Other costs of church and house Depreciation Bank Interest and charges 91,603 19,134 94,152 166,181 8.314 3,309 17,403 109,006 115,597 19.134 19.473 97,152 68.139 182,872 211.936 ,314 8,314 3,309 3,240 3,000 16,691 Total resources oxponded 382,693 37.094 419,787 426,699 Not (d•fl¢lt)18urplu8 before other recognlsed galn8 and losses (29.834) 50,12f 20,292 56,990 Other recognlsed galns and losses Gain on investment assets Gainl(loss) on revaluation of fixed assets 37.287 5,000 37.287 37.522 5,000 {3.000) Net movement In funds Totsl funds brought forward 12,453 745,366 50,126 99.438 62.579 91,512 844.804 753,292 Total funds carrled forward 757,819 149.564 907,383 844,804 Net surplusl(deficit) arises from the Charity's continuing operations.
Dominican Fathers Newry Balance sheet as at 310ecember 2024 Note 2024 2023 Fixed assets Tangible fixed assets Investments 177,326 507.923 180,640 470.637 685,249 651,277 Current asset8 Debtors Bank and cash 19.334 216,392 206,563 237.726 206.563 Current Ilabllltlos Credltors (13,592) (13,036) Net current assots 222,134 193,527 Net a88•ts 907,383 844,804 Re8erve8 General purpose fund Designated fund Restricted fund 57,819 700,000 149,564 45,366 700,000 99,438 907,383 844,804 and authorised for issue by the Trustees on and signed on its behalF by: John Harris O.P. William David Walker O.P. 10
Dominican Fathers Newry Cash flow statement For the year ended at 31 December 2024 2024 2023 Cash flows from operatlng actlvltles Surplus for the year Adjustments for Depreciation Interest payable and similar charges Interest receivable and slmilar income 20.292 56,990 8,314 3,309 8.314 3,240 {30) 31.754 68,514 Increase in debtors Increa881(decrease) in creditors 119.333) 556 (265) Net cash Inflowl(outtlow) from op•ratlng actlvltles 12.977 68,249 Cash flows from Invostlng actlvltl•8 Proceeds from sale of investment funds Interest payable and slmllar charges Interest rec&ivable and similar inGomg 57,039 (3,240) 30 (3,309) 161 N•t cash (ouffiow)Ilnflow from Invostlng actlvlt108 (3,148) 53.829 Net increase in cash and cash equivalents Cash and cash equlvalents at beginning of year 9,829 206.563 122,078 84,485 Cash and cash •qulval•nts at end of year 216,392 206.563 11
Dominican Fathers Newry Notes fonning part or the non-statutory financlal statemenls Accountlng pollcles Dominican Fathers Newry ('the Charity") is a community of the Dominican Order Communities, Irish Province. whlch Is a province of The Charity of Preachers, a Catholic rellgious order founded on 22 December 1216 by Saint Dominic da Guzman. The Charity registratlon number is 101350. The non-statutory financial ststements have been prepared by the Dominican Fathers Newry to present the statement of flnancial activity and balance sheet of the Dominican Fathers Newry. The non-statutory financial statements are prepared in accordance with Financial Reportlng Standard 102 The Financial Reportlng Standard appliGable in the UK and Republic of Ireland (°FRS 102'}. The presentation currency of these non-statutory financlal statements is Sterllng. The Dominican Fathers Newry has taken reasonable steps snd controls to ensure that, as far as It reasonably can, it is satisfied that the income as recorded is complete. The accountlng policies set out below have, unless otherwise ststed, b88n applied consistently to all periods presented in these financial statements. Judgements made, in the application of these accounting policies that have significant effect on the rinanclal statements and estimates wlth a significant risk of material adjustment In the next year include the valuatlon of tangible fixed assets. An independent prof8sslonal valuation of the property assets wa8 carrled out by Avison Young propety consultants at 31 December 2024. Although the propety asset valuation is conducted extemally ty an independent valuer. the nature of valuation estimates are Inherently subjective and requlres the making of signifiGant Judgements and assumptions by the Charity and the valuer. 1.1 msUrnent convontlon The financial statements are prepared on the hlstorkal cost basls 8XC8Pt that the followlng assets and Ilabilities are Stated at theSr fair value: propety assets measured in accordance with the revaluation model; Investments that can be measured reliably are measured at falr value with changes recognlsed In the statement of financlal activities. 1.2 Golng concern The Trustees continue to monitor the financSal position of the Charity and on the basis of this r8vlew are confldent the Charity has sufficient resources to continue in operational existence for the foreseeable future. 1.3 Forelgn curroncy Transactions in foreign currencies are translated to the Charity's functional currency at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabllities denorninated in foreign currencies at the balance sheet date are retranslated to the functional currency at the foreign exchange rate ruling at that date. N0n-rnetary assets and liabilities that are measured in terrns of historical cost in a foreign currency are translated using the exchange rate at the date of the transactlon. Non-monetary a5S8ts and liabilities denominated in foreign currencies that are stated at falr 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) Accounting pollcles (continued) 1.4 Baslc flnanclal Instruments Trade and other debtorslcr8dltors Trade and other debtors are recognlsed initially at transaction price plus attributable transaction costs. Trade and other creditors are recognised initially at transaction price less attributable tran8actlon costs. Investments Investments are measured initially at transactlon prlce less attrlbutable transaction costs. Subsequent to initial recognition, investments th8t can be measured reliably are m8asured at fair value with changes recognised in the statem8nt of flnanclal activltl88. Cash and cash equlvalants Cash and cash equlvalents comprlse cash balances and call deposits. 1.5 Tanglble assets and doprnclatlon Pmperty assets (i) Ecclgsiastical property assets Ecclesiastical propety assets are held at nil value as the unlque characteristics of those assets renders them incapable of meaningful valuation. These properties are of a publlc nature, hwrfe hlstorical significance and are generalty protected structures. Restoratlon costs are written off to the statement of financial activities as incurred. (li) Other land and bullding pmperty 8ss8ts Other land and building property assets relate to all remalnlng land and bulldlng propety assets owned by the Charity. These are independently valued on an annual basls. Galns arKI losses on revaluation are recognised in the statement of financial actlvStles. (iii) HistOriG treasures and other religious artefacts Historic treasures ar other relvJious artefacts are not capitalised as a valuation is not considered practical. Such items are in the possesslon of the Charty, were created for use in religious worship or devotion and continue to be used for these purposes. The Charity has no intention of disposing of any of the hlstoric treasures or other religious artefacts. Other tanglble flxed assets All other tangible fixed assets are st8ted at cost. less accumulated depreciation. The charge for depreciation is calculated to wrlte down the cost of tangible fixed assets to their estimated residual values by equal annual Instalrnents over their expected useful lives which are as follows: Motor vehicles 5 years Provlslon Is also made for any impairment of tangible red assets. 13
Dominican Fathers Newry Notes (continued) Accounting pollcles (continued) 1.6 Impalmient excludlng stocks Flnanclal assets (Includlng trade and other debtors) A financial asset not carrled at fair value through the statement of flnanclal activities is assessed at each reporting date to d8termine whether there is objective evldence that it is impaired. A financial 88set is Impaired if objective evidence indicates that a loss event has occurred after the initial r8cognitSon of the asset, and that the loss event had a negatlve effect on the estimatad future cash tlows of that asset that can be estimated reliabty. An impairment loss in respect of a financlal asset measured at amortised cost is calculated as the difference between its carying amount and the present value of the estimated future cash flows discounted at the asset's original affectlve Interest rate. For financi81 instruments measured at cost less impairment an impairment is calculated as the difference batweon its carrylng amount and the best estimate of the amount that the Charity would receive for the asset if It were to be sold at the reporting date. Interest on the Impalred asset continues to be recognised through the unwindlng of the discount. Impainnent losses are reco9nised in the statement of financlal actlvlty. When a subsequent event causes the amount of irnpairment loss to decrease, the decrease In impairment loss is reversed through the statement of flnancial activity. 1.7 Employee bon•flt8 The pen8ion scheme is a defined contributlon pension arrangement, whereby the employer (Dominican Fathers Newry) contribute8 a percentage of each staff members, salary to the penslon scheme whlch accumulates over the staff memberfs perlod of employment to provlde a fund at retirement from which the staff member can take beneflt in line with legislative and tax limits. 1.8 Provl8lon$ A provi8ion is recognlsed In the balance sheet when the Charity has a present legal or constructlve obligation as a result of a past event, that can be rellably measured and it is probable that an oufflow of economic benefits will be required to settle the obligation. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date. 1.9 Income recognltlon Church and house income, glfts and donations, income from properties. fundraising and sundry income are recognlsed on a cash receipts basis. Legacies 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 Expenses The cost of activities of the Charity are accounted for when they become payable. Interest recelvablo and Interest payable Interest receivable and similar income include interest receivable on funds invested and net foreign exchange galns. Interest payable and similar charges include interest payable and net foreign exchange losses that are recognised in the ststement of financial activity (see foreign Gurrency accounting pollcy). 14
Dominican Fathers Newry Notes (continued) Accounting pollclos (continued) 1.11 Restrlcted funds Restricted funds can only be used for the particular restricted purposes of the Charlty. Restrictions arlse when specified by the donor or when fund8 are raised for a particular restricted purpose. 1.12 Unrastrlcted funds The unrestrlct8d funds of the Charity comprise general purpose funds and designated funds. General purpose funds are retained to cover future direct charitable costs, general support costs. and investment management costs. Designated funds are those parts of the Charity's unrestricted furKls designated to be used for a partlcular purFM)se in the future. 1.13 Taxatlon The Charty Commission for Northem Ireland number of Ihe Dominican Order18 101350. The Charity has tax exemptS0n. Income 2024 2023 Church and house income Interest and investment incomg Other income 438,768 161 1,150 482,909 30 750 440,079 483,689 Surplusl(deflclt) before other recognlsed galns and losses 2024 2023 sulUS/[defjGltj before other recognised gains and losses is stated after charging.. Deweciation 8,314 8,314 Employoas numbers and c08ts The number of persons employed during the year was 6 (2023.. 6). The aggregate amounts paid to the above staff are as follows: 2024 2023 Wages and salaries Social welfare costs Employee pension contribution 92,022 7.209 9,775 95,757 6,735 13,105 109.006 115.597 15
Dominican Fathers Newry Notes (continued) Flxed a88ets Motor Vehlcles Property Total At 1 January 2024 Revaluation 161.000 5,000 57.568 218,568 5.000 At 31 December 2024 166.000 57,568 223,568 DeprKlatlon At 1 January 2024 Charge for year 37,928 8,314 37,928 8,314 At 31 Docomb•r 2024 46.242 46,242 Net l)ook valuo At 31 D•eember 2024 166,000 11,326 177,326 At 1 January 2024 161,000 19,640 180.640 An Independent professional valuation of the propety assets was carried out by Avison Young property consultants at 31 December 2024. Such propety assets are valued on a market value basls. Investments 2024 2023 Investment fund 507,923 470,637 Investment funds comprise professionalty managed investments which are prlmarlFy quoted. Investments are carrled at market value at each reporting date. 16
Dominican Fathers Newry Notes (continued) 2024 2023 Dobtors Prepayments 19,334 19,334 Credltors and accruals Accruals and other creditors 13,592 13,036 13,592 13,036 R•conclllatlon of rnserves General purpose fund Deslgnated lund Reslrfcted fund Total Balance at 1 January 2023 Surplusl(deficit) for 2023 Transfers between reserves 3,292 (7,926) 50,000 750,000 753,292 91,512 99,438 (50,000) Balanca at 31 December 2023 Surplusl(deficit) for the 2024 Transfers between reserves 45,388 12,453 700.000 99,438 50.126 844,804 62,579 Balance at 31 December 2024 57.819 700,000 149,564 907,383 10 Commltments Capltal commltments The Charity had no capitsl Commitnts at 31 December 2024. 11 Post balanco sheet events There have been no other events subsequent to the year end that would require disclosure in. or adjustment to, the financial statements. 12 Approval of financial statements The financial statements were approved and authorlsed for Issue by the trustees on 8th July 2025. 17