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 ¢e￿MonieS 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 dIff￿Ult 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.
ApPr￿ded 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 cO￿luded 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 pu￿0$• 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 m￿sU￿rnent 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-r￿netary 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 r￿ed 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
su￿lUS/[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 Commit￿￿nts 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