Charlty Reglstratlon No. 101608 Company Reglstratlon No. Nl 020699 (Northern Ireland) MALTA CHARITIES NORTHERN IRELAND (ACOMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) LEGALAND ADMINISTRATIVE INFORMATION Directors Mr Anthony Patter50n Mr John INright Secretary MrAidan O'Brien Ch•rfty Numb•r North•rn Ireland 101608 Company number NI 020699 Reglsterod office 7- 11 Llnenhall Street Belfast BT2 8AA Audltor8 Walsh O'B Tien Hamett 104 LovKr Baggot Street Dublin 2
MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Dlrectors. report Independent auditoV8 report Statement of financlal actlvitles Balance sheet Notes to the financlal staternents 8-10
MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) DIRECTORS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Directors present thelr annual report together with the audited financial ststements of Malta Charitles Northern Ireland ( the "Charl) for the year ended 31st December 2023. The Directors confirm that the Directors report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Ststement of Recommended Praclice ("SORP') "Accounting and Reporting by Chariiies" applicable to charities preparing their financial ststements in accordance wrf(h the Financial Reporting Standard 102 (FRS 102). ObJectlv•s and actlvltle• The principal activity of the company is the holding of assets on behalf of and the promotion of the chaTllable objects of the Irish AssoGiation of the Soverelgn Mllitary Hospltaller Order of St John of Jerusalem, of Rhodes and of Malta and to apply 8uch assets for charitable purposes. The company Is limlted by guarantee not having a Share capital. In setting objectives and planning for activities, the Dlrectors have glven due consideratlon to general guidance published by the Charity Commission relats'ng to publlc benefft, Including the guldance 'Public benefrt: running a charlty {PB2)'. Flnanclal revlew The results for the year are set out on page 6. structure• governance and managoment Malta Charities Northem Ireland is registered as a charitable company limited by guarantee incorporated in the United Kingdom. There have been no changes In the objectives since the last Directors, Report and Financial Statements. The trustees, who are also the dlrectors for the purpose of company law. who served during the year and up to the date of Signature of the financial statements were: Mr Anthony Patterson Mr John ght
MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) DIRECTORS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 ststement of Dlrector8' r•gponslblllflo• The trustee5. who are also the dIrectS of Molla Chathles Northem Ireland {A company Ilrthd by guarart•e) for the purpos• of company law. are responsible for preparing the Direct(ws' Repart and the financial statements a¢¢ordan¢¢ wilh applKabl8 law and United Klngdom Accounkng Standards <United Kingdom G¢n¢ralty Apted AuntIng Pradlce). Company Law requlreJ the Dlrectorn to prepara finando18tstwnents for each Iln8llGlal year whkh gfve a truè and falr eW of the Siale of affglrs of the chartty and ofthe incomlng resources and appIltIon of resources, Indudlng the Income and expendllure, ol the chalable comp•ny for that year. In preparfng thesè flnancl813tstement8. the Dlrectorn are requlred to.. - leCt iultable accountlng poNde8 and th•n apply thém eon8l$tentty: - obseThe the mèthods and prfnciples In the Charlliwa SORP: - make judgements and es1imak8 Ihal arè reason•bl8 and prudent; - •late wknether applicable UK Accwntlng Standards have been followed, •ubl•ci to ary materfol dyrtur•• dlsdosed 8nd expl#lned In Ihe nandal statements: and - prepare Ihe Ilnandal ststemonts on th• golng conc•m ba81• urbless * Is kn•ppropflote to Pruumo that tho eharfty wll continue In oporatl¢)n. Th8 Dlreclorn are reSponbIt for keeping adequate accounllnB records thgt dlsdo8e wth wson8blg •ccuTrcy at ny ttme the Inandal posltlon of the chadty gnd enable them to ensure th41 the ffinJn¢i81 ¥tatem¢nts ¢ompty wilh Companles Acl 2008. They are also responjlble for Bafeguardkng th• 88s•ly 01 the charity and hence lor taklng reasonab steps for the prevonllon and det•ctlon of fraud and other I4r1110$. Audltorn Ish (Y8rfen Hantt. (Chartered A¢Gountantsl, have expressed thelrwlNlngne88 to cOntIn in office In 8Gcordance wbth the provlslon# of Section 485 ofthe Conwnle8 Act 20. prtnclp•l rtsk• •nd unceTtslntS•• The Ch•rity ho$ •s•ets on behalf of the Irlsh Assoclallon ol the Sovernlgn Mllltary Hospllamer Order of St John of Jarusalam. ol Rhodes •nd of MgX4. Thè rfsks assoclated wllh those assets are ck)sety monltored ty the Directors with Current trendg belng rnviwwed on an ongalng ba81$. The Dlre¢tor8 arn 8all$fiod thal 8y$lem8 and procedures are In place to mlllgale against exposure to the ma1 rtBks. DknGla¥ur¢ of Informailon to audllorn Eath of the person$ vtho are Direclor8 at the tlme when th[5 Dlrectors. R•port Is approved haj conllrrned th8t 80 far a$ that droGtor h awere. there 1$ no Tolevant audlt Inlomiatlon of whlch the charlty'8 audllorn are urtaware, and - that the Dirnctor ha8 laken all the steps that Ought lo have been takon as a Dkethr In 0er to be aware of any relevant audlthknmiatlon and to e5tab118h that the tharivs audilors are awaro of that Infarmatkn. Thefl nclal statements approved by the board of dlrnGlorn and authorf•ed forl•8u• on and •lgned on Its h•ll by: MrAnthon Dlrnctor eT50n Mr John Wrfg Dlr•ctor
MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) Oplnlon We have audited the financial statements of Malta Charities Northern Ireland {A company limited by guarantee) (the 'charlty') for the year ended 31 December 2023 whith comprlsè the statement of financial activities, the balance sheet and the notes to the financial statements, including significant accounting pollcies. The financi81 reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard 8pplicable in the UK and R8public of Irel8nd (United Kingdom Generally Accepted Accounting Practlce). In our opinion, the financial statements.. gEve a true and fair view of the state of the charitable companvs affairs as at 31 December 2023 and of its incomlng resources and application of resources, for the year then ended., have been Properly prepared in accordance wlth the Statement of Recommended Pradice (SORP) Accounting and Reporting by Charities preparing thelr accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republlc of Ireland (FRS 1021 (effective 1 January 2019). have been prepared in accordance with the requirernents of the Charities Act 2011 and Companles Act 2006. Ba•ls for oplnlon We conducted our audit In accordance with Internatlonal Standards on Audlting (UK) {ISAs (UK)) and applicable law. Our responsibilitles under those st8ndards are further described in the Auditorfs r85ponsibilities for the gudit af th8 financial statements section of our report. We are Independent of the charity in accordance with the ethical requlrements that are relevant to our audit of the financ181 staternents in the UK, indudlng the FRC'S Ethical standard, and the provisions available for small entities, in the clrcumstances set out in note 2 to the financial statements. and we have fulfilled our other 8thlcal responsibililies in accordance with these requlrements. We believe that the audlt 8vldence we have obtained Is sufficient and approprfate lo provide a basis for our opinion. Conclu•lons relatlng to golng concern In auditing the financial statéments, we have concluded that the Directors, use of the going concem basls of accountlng In the preparation of the financlal statements Is approprlate. Based on the work have perfomed, we have not Identified any materfal uncertalnties relating to events or condSt6ons that, individually or collectively, may cast signiflcant doubt on Ihe charty's ability to wntinue as a going concem for a period of at least twelve months from when the financial statement5 are authorised for Issue. Our responsibilities and the responsibilitles of the Directors with respect to going concem are descrlbed in the relevant sections of thls repo other Inforniatlon The other Infonnation comprises the informalion induded in the annual report other than the financlal statement5 and our audito¢s report thereon. The Dlrectors are responsible for the other infoTmatlon contained within the annual reporL Our opinion on the financial statements does not cover the other infomation and we do not express any fomi of assurance conclusion thereon. Our responslbilty IS to read the other information and, in doing so, consider whether the other Infomiation is materially inconsistent with the financlal statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to delermine whether this gives rise to a material misstatement in the financial statements themselve5. If, based on the work vée have perfomed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) MatteTr on whlch we are requlred to report by exceptlon We have nothing to report in respect of the followlng matters In relatlon to which the Charities Act 2011 require us to report to you if, in our opinion: the information given in the flnanclal statements Is Inconslstent In any material resped with the Directors, Teport.. or sufficient accountlng records have not been kept., or Ihe financlal stalements are not In agreernent with the accountlng records; or V have not received all the information and explanation8 we require for our audit. Rupon•ibilitle• of Directorn A5 explalned more fulty in the statement of Directors, responsibilities, the tnJstee8, vtho are also the directors of the charity for the Purpose of company law, are responslble for the preparatlon of the financial 5taternents and for being satisfied that they give a true and falr view, and for such intemal control as the Directors detemiine is necessary to enable the preparation of financial statements that are free from material misstaternent, whether due to fraud or eOr. In PTeparing the financial statements, the Directors are responsible for assessing the charity's ability to continue as a going concern, disclosing, as appllcable, matters related to going concern and using the golng concem basis of accounting unless the Directors elther Intend to liquidate the charitable company or to cease operatlons, or have no reallstic alternative but to do 80. AudltoVs respon8lbllltles for the audlt of the flnanclal •tatements We have been appolnted as auditor under Section 144 of the Charitie8 Act 2009 and report In accordance with the Act and relevant regulatlons made or having effect thereunder. Our objectives are to obtsin reasonable assurance about whether the financial slatements as a whole are free from material misstatement, whether due to fraud or error, and to 138ue an auditors 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) wlll always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are consldered material if, individually or in the aggregate, they could reasonabty be expected to Intluence the economic decisions of users taken on the basis of these financial statements. The extent to whlch our procedures are capable of detecting irregularities, including fraud, is detalled below. A further descrlptlon of our responsibilities is available on the Flnancial Reporting Councll's webslle at: https:11 wMw.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report. Oplnlon on other matter prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audlt". the informatlon given in the Directors. Annual Report for the financial year for which the finandal statements are prepared is consislenl with the financial statements., and - the Directors Annual Report has been prepared in accordance wilh the applicable legal requirements.
MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) This report is made solely to the charity's trustees. as a boty, in accordance wlth part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that We might state to the charity's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responsibilty to anyon8 Other than the charity and thè charity's trustees as a body, for our audit wotk, for this report, or for the opinions we have fomied. Andrew Kevltt for and on behalf ol Wa18h O'Brlen Harnott Chartered Accountants and Statutory Audft Flrni 104 Low•r Baggot Stre•t Dublln 2 13 Jun• 2024
MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Unrestricted funds funds 2023 2022 Notss Net movement In funds Fund balances at 1 January 2023 130,000 130,01)O Fund b•lancM at 31 D•cwnber 2023 130,000 130,000 The statement of financial actlvltles Include5 all galns and losses recognlsed in the year. The ststement of financial actlvltles Indude5 811 gains and losses recognlsed in the year. All Income and expenditure derlv8 from contlnulng activities. The 8tatement of finandal actlvltles also complie8 with the r8qulrements for an income and expendlture account under the Companies Act 2006.
MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT31 DECEMBER 2023 2022 Flx•d Tangible assets 130.000 130.LIJO FdI Unr•strktsd funds 130.(0 130,CIXI 130,QQO 130,IJOO Thgge flnandal •latements h8v• bean prwr•d In accordance THllh lh8 wovl8lon8 to compan1•8 8ubJ•ct to the smol companS8& rnlme. TWnanElal 8tstsm•nts TMr• •pprov¢d by th• board of dlr•dorn and aulhorl••d for on and •lgn•d on Its beh•lf by: A,L /zg - Mr Anth Patt•v•an Mr John Wrfght DlrnGtor
MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEAIBER 2023 Accountlng policies Charlty Inforniatlon Malta Charities Northem Ireland (A company Ilrnited by guarantee) is a private company limited by guarantee incorporated in Northern Ireland. 7 - 11 Linenhall Street, Belfast, BT2 8A4 is the registered office of the company. The nature of Ihe companvs operatlons and its prinupal activlties are set out in the Directors. Report. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company. 1.1 Accountlng conv•nllon The financial statements have been prep8red In accordance with the Companles Act 2006 and "Accounting and Reporting by Charities= Stalement of Recommended Praclice applicable lo charities preparing thelr accounts in accordance with the Financial Reportlng Standard appli¢8ble in the UK (FRS 102) (effective 1 January 2019)" The charfty is a Public Benefit Entity as defined by FRS 102. The finandal ststements have been prepared under the historical cost Convention. modlfied to indude the revaluation of freehold properties and to include investment properties and certaln financial instrument5 at falr value. The prlncipal accounllng pollcies adopted are set out below. 1.2 Golng concern At the time of approvlng the financlal ststements, the Dlrectors have a reasonable expectatlon that the charlty has adequate resources to continue in operational exlstence for a period of at least 12 months from the date of approval. Thus the Dlrectors contlnue to adopt the golng concern basis of accounting In preparing the financial slatements. 1.3 Charltabl• funds Unrestricted funds are avallable for use at the discretion of the Dlrectors in furtherance of thelr charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purpos88 and uses of the restricted funds are set oul in the notes to the financial statements. Endowment fvnds are subjed to specific conditlons by donors that the capltal must be maintained by the charlty. 1.4 Tanglble flxod aMet• Tangible fixed assets are Initialty measured at cost and subsequentty measured at cost or valuatlon, net of depreciation and any Impaimient108ses. The galn or loss arising on the disposal of an asset is determined as the differen between the sale proceeds and the carrying value of the asset, and is recognised In the statement of financial activities. 1.5 lrnpairnient of flxed assets At each reporting end date, the charity reviews the carrying amounts of its tsngible assets to detemiine vthether there is any indlcation that those assets have suffered an impairment loss. If any such indicatlon exists, the recoverable amount of the asset Is estimated in order to determine the extent of the impaimient loss (If any). 1.6 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposit5 held at call wlth banks, other short-temi liquid investments wlth original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown wlthin borrowing5 in Quent liabilitles.
MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollclas (Continued Baslc financial assets Basic financial assets, which indude debtors and cash and bank balances, are inltially measured at transactlon prlce induding transaction costs and are subsequèntly carried at amortised cost using the effective interest melhod unless the arrangement conslitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Flnancial assets dassified as recelvable within one year are not amortised. Baslc flnanclal Ilabllltl•$ Ba51G financial Ilabilities, including creditors and bank loans are Inltially Tecognised at transaction price unless the arrangement constitutes a financing transaction. where the debl instrument is measured at the present value of the future payments dlscounted at a market rate of Interest. Financial liabilities clas51fied as payable wlthin one year are not amortised. Debt instruments are subsequentty carried at amortised cost, using the effective interest rate method. Trade credltors are obligatlons to pay for goods or servlces that have been acqulred In the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as norFcurrenl Ilablllll85. Trade creditors are recognised initially at transaction prlce and subsequently measured at arnortised cost U51ng the effective interest method. Derncognition of financial liabilities Flnanclal liabllltles are derecognised when the charity's contractual obllgation5 expire or are dlscharged or cancelled. Provl8lon8 Avallable for Small Entitle• In common with many other organisations of our size and nature we use our audltors to asslst with the preparation of the financial statements Crltlcal accountlng e8tlmates and Judgemonts In the application of the charfty's accountlng policies. the Directors are required to make Judgements, estimates and assumptions about the carying amount of assets and liabilities that are nol readily apparent from other sources. The estimates and associated assumptions are based on historlcal experience and other factors that are considered lo be relevant. Adual results may differ from these estimates. The estimates and undertying assumptions are reviewed on an ongoing basls. Revlslons lo accountlng estimates are recognised in the period in which the estimate is revised Ythere the revision affeGts only Ihat period, or in the period of the revision and fijture periods where the revision affects both current and future periods.
MALTA CHARITIES NORTHERN IRELAND (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Tangible fixed assets Freehold land Ind bulldlng8 Co•t At 1 January 2023 130.000 At 31 December 2023 130.000 Carrylng amount At 31 December 2023 130.000 At 31 December 2022 130,000 Events •ft•r the reportlng dats There have been no significant events affectlng the company since the financial period-end. Related party tran•actlon• Property and assets held by the Irish AsBociation of the Soverelgn Military Hosprtaller Order of St John of Jerusalem, of Rhodes and of Malta have been vested in Malta Charities Northem Ireland {the 'comp8ny"> vthich has bèen created for the purpose of holding such propety. Thè Directors of Malia Charitie8 Northem Ireland are Officers and Members of the Order. The company holds such propety in trust on behalf of the Order. staff costs The company has no employees other than Directors, who dld not receive any remuneratlon, benefft In klnd or reimbursement of expenses durlng the year (2022- £Nil). Approval of flnanclal stat•m•nts The dlractor8 approved the financlal statements on the 6th June 2024. 10-