2022-12-31-accounts - The Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland

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Charity registration nLtmber NIC101833 Company registration number R0000680 (Northern Ireland) THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND LEGALAND ADMINISTRATIVE INFORMATION Trustecs Rev G A J Farquhar DipTh BA MTh Mr M Hampton PIIA Mr J Hunter BA MBA CB Miss H Johnston Bsc CIPD MA MrA McAdoo Mr H Minion Rev S P Moore Bsc BD PGCE Mr M Rea OBE 8Sc DipEd (resigned 0810312022) MrHMOrrKC Rev L M Keys BTh Dipmin Rev Dr G W Clinton 8Sc {RCSII Msc Dipslal PhD Dipmin MDIV Rev S J Castles 8Sc BD {appoinled 0411012022} Rev L W Webster lappoinled 0411012022) Rev 8 J Mccroskery Bsc BD MPhil lappoinled 0411012022) Mrs P Mccullagh Bsc Msc Mrs A Stewart MEd CertEd DASE LTCL Honorary Secrolary and Treasurèr Rev S P Moore Bsc BD PGCE Secretary and Troasuror Mr J G Nicholson BA IHons} Charlty number NIC101833 Company numbor R0000680 Roglstorod offi¢0 Glengall Exchange 3 Glengall Street Belfast BT12 SAB Auditor Harbinson Mulholland Cenlrepoinl 24 OrmeaLt Avenue Belfast BT2 8HS Bankers Danske Bank Donegall Square Wesl Belfa51 BT16JS Solicitors Carson M¢Dowell LLP Murray House Murray Street Belfast BT16DN

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND CONTENTS Pago Triiglee5' report Slalemenl ol Trustees, responsibilities Independent auditor's feport Slalement of financial a¢livilies Slalemenl of financial position 10 Slalemenl of cash flows 11 Noles lo the financial slalemenls 12-18

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees (who are also directors) present their report and the audiled financial slalemenls for the year ended 31 December 2022. The financial slalemenls comply with the Charities Act (Northern Ireland) 2008. the Companies Act 2006 and Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charilies preparing their accouiils iii aGGordanGe wilh the Financial Reporting Slaiidard appliGable iii the UK aiid Republic ol Ireland IFRS 1021. The charily is governed according lo the company's memorandum and articles. Results The nel outgoing movement in funds for the year amounled lo £146,036 Inel incoming movement in funds 2021 £90,969). Total income showed a 16.9D/o increase on the previou5 year12022.' £65,821, 2021.. £56.263), Inveslmenl management expenses increased by 2.50/012022. £5,892, 2021.. £5,746), management and governance expenses decreased by 8.40/012022.. £10,638, 2021.. £11,622) and charitable expenditure decreased by 3,601012022. £39,957, 2021.. £41,444). The following number of granls were issued.. 2022 2021 Orphan Grants Education Grants 19 22 Following the 2022 year-end. and having been agreed by the Board of Directors, il shoLFld be noted that no income will be laken Iroin Iiiveslnieiils during 2023. Granl-making activities will be funded ffom reserves, making use of cash balances held by the Society al Danske Bank. Princlpal actlvltles, revlew of tlio buslness & future dovelopments The principal aclivilies of the Society are lir511y' lo aid by grants from Ilie funds of the Society, orphans and children of Ministers. Missionaries and Deaconesses of the Presbyterian Church In Ireland. and secondly.. lo assist Ministers, Missionaries and De3conesse5 of the Presbylerian Church In Ireland in necessilous circumstances in the education ol their children. The directors are encouraged by the lev81 of subscriptions for the year and would hope that congregations will continue lo prayerfully consider the needs of Ihis work of the Church. During the year the objectives ol the charity were lo make orphan grant paymen13 and education grants lo Children ol Minlsters, MSssionaries and Deaconesses. The Sociely for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland is regislered as a charily with the Charities Commission for Northern Ireland wilh registration number NIC101833. Objectlves The 2022 objectives of The Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland are as follows.. -To continue to pay orphan grants lo children -To continue lo provide education giants These will be dependent upon Ihe applicalions reGeived and will be paid in line wilh the criteria as slipulaled by the Society.

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 A budget income and expenditure account including the above oble¢lives is prepared al the start ol each financial year and the 2022 objeclives were mel. Organlsation A board of directors 0115 members has overall responsibility for the charity. Meeting bi-annually, Ihe board possess the aulhorily lo adminisler the charity and manage ils day to day operations. However, daily management of the charity has been delegated lo tho Secrelaryrrreasurer who is directly responsiblè and accountable lo the board. Grant making policy The charity iiiviles applications for thè lui)ding of grants lo individuals. These applications are Ihen roviowed againsl specific criteria ai)d objeclives which are sel by Ihe directors, in accordance with the objeclives of Ihe Charity. Investmont policy Tlie cliarily's fund managers are Sarasin & Partners LLP who are lo pursue a pollcy of maximising income whilst maintaining some capital growth. Tliis policy 15 performed in accordance with the Society's elhical guidelines whiGh prohibil investment in companies with significant interests in aloohol, tobacco, gambling, arms manulacluring and exploilalive child labour, Reserves pollcy 11 is Ilie policy ol the charity lo maintain unreslricled lunds, which are free ol reserves ol the charity, al a level which equales lo approximately one year's unre51ricled expenditure. This provldes sufficient funds lo cover management and adminislralion costs and respond lo emergency applicalions for grants which ar15e from lime ID lime. Rlsk managemont The direolors hav& examined and assessed thè major risks lo which the charity is exposed. in particular those relaled lo Ilie opeiali0115 and finances of the Society and are satisfied that adequate systems are in place so that the necessary steps can be taken lo lessen those risks. Grants to chlldron During the year the Sociely ha5 made conlribulion5 of £39.95712021.' £41,444) to individuals in need. Going concern The directors believe Ihal there are no material uncerlainlies that cast significant doubl about the charity's ability lo continue as a going concern and the financial slalements have been prepared on this basis. Directors The directors who 5Èrved the Society during the year are listed as part of our Legal and Adminislralive information. The directors are appoinled in accordance wilh Ihe company s memorandum and articles.

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Strategic report The directors have not prepared a slralegic report as the company is enlilled lo the special provisions applicable lo companies subject lo Ihe small companies regime within part 15 of the Companies Act 2006. Dlsclosure of Informatlon to the auditors So far as each person who Is a director al the dale of approving Ihls report is aware, Ihere is no relevant audit information. being infoimalion needed by the auditor in connection with preparing this report, of which the auditor is unaware. Having made enquiries of fellow directors and the Company's auditor, each director has taken all Ihe steps that helshe is obliged lo lake as a director in order lo make himselflherself aware of any relevanl audit information and lo establish that the auditor is aware of that information. Audltors A resolution lo reappoint Harbinson Mulholland as auditors will be pul lo the members al the Annual General Meelino. Small company exemptlons This reporl has been prepared in accordance with the special provislons applicable to companles svbjecl lo the small Gompanies regime within part 15 of Ihe Conipanies Act 2006, By order ol the Board Mr J G Nicholson Secrelary Dated.. E)"1'3

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees, who are also the directors of The Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland for the purpose of company law, are responsible for preparing the Trustees, Report and the financial slalemenls in accordance wilh applicable law and regulation. Company law requires the Trustees to prepare financial slalemenls for each financial year. Under that law the Truslees have prepared the financial slalemenls in accordance with United Kingdom Accounting Standards, comprising FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland., and applicable law (United Kingdom Generally Accepted Accounting Practice). Under company law the Trustees musl not approve the financial slalemen15 unless Ihey are satisfied Ihal Ihey give a trué and fair view of the slate of the affairs of the charitablè company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial slalemenls, the Trustees are required lo.. select suitable accounting pollcies and then apply them consSslenlly', obseNe the melhods and principles in the Slalemenl of Recommended Pra¢lice'. Accounting and Reporting by Charities (20151., make judgments and eslimales that are reasonable and prudent., and prepare the financial 51alemenls on the going concern basis unless il is inappropriate to presume that th& charilable company will conlinue in business. The Tru51ees are responsible for keeping adequate accounting records that arè sufficient lo show and explain the charitablè company's IransaGlions and disclose with reasonable accuracy al any lime the financial position of the oharilable company and enable them lo ensure that the financial slalemenls comply with Ihe Companies Act 2006 and Charities Act (Northern Ireland) 2008. They are also responsible for saleguaiding the assets of the charitable company and hence for taking reasonable steps for the prevention and deleclion of fraud and olher irregularilies. In certain circumstances clienls may choose lo include an additional slalemenl here which Is required to be made wilhin the directors, report as a result of Section 418 of the Companies Act 2006. In accordance with Section 418, directors, reports 5h811 include a slalemenl, in Ihe case of each director in office al Ihe dale the diroclors, report Is approvod, Ihal.. {a} so far as the Iruslee is aware, there 15 no relevant audit information of which the company's auditors are unaware., and {b} he has taken all the sleps Ihal he ought lo have taken as a Iruslee in order lo make himself aware of any relevanl audil information and lo establish that the company's auditors are aware of Ihal information. Rev S P Moore Bsc BD PGCE Trustee Dated..

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND Oplnion We have audited the financial slalemenls of The Sociely for the Orphan5 and Children of Ministers and Missionaries ol the Presbyterian Church in Ireland Ilhe 'charily') for Ihe year ended 31 December 2022 which omprise the slalemenl ol financial aclivilies, Ihe slalemenl of financial position, the slaleinenl of cash flows and notes lo Ihe financial slalemenls, including significant accounting policies. The financlal reporting framework that has been applied in their Pfeparalion is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 Tlie Financial Reporting Slandard applicable in Ilie UK ai?d Republic of Ireland (Uniled Kingdom Generally Accepied Accounting Practice), In our opinion, the financial slalemenls.. give a true ai)d fair view of the stale of the charilable company's affairs as al 31 December 2022 and of ils incoming re50urce5 and application of resources, for the year then ei)ded', have been properly prepared in accordance with Uniled Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requiremenls of the CompanSes Acl 2006. 8asls for oplnlon We conducted our audit in accordance wilh Inlernalional Standards on Auditing IUKI {ISAs IUKI) and applicable law. Our re5ponsibililies undor those standards are further described in the Atidilorfs SpOnsIbl11110S for Iho audit of Ilio fina17Cltil slnloiiioiits section of our report. We are independent of Ihe charity in accordance with the ethical requirements that are relevanl lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical Standard, and we have fullilled our other ethical responsibilitie5 in accordance wilh these requiremenls. We believe that the audit evidence we have oblained is sufficient and appropriate lo provide a basis lor our opinion. Malorlal uncortalnty related to golng concern In Ioriring our opinion on Ihe financial slalemenls. whlch Ss not modified, we have considered the adequacy ol the disclosure Inade in note 1.2 to the financial statements Concerning the charity's ability lo conlinue as a going concern. The charity has been subject lo a Slalulory Inquiry by Charity Commission for Northern Ireland. These conditions, along with the other mallers explained in note 1.2 to the financial slalemenls, indicate tl)e existence of a Inalerial uncertainly wliicli may casl significant doubt about the charity's abilily lo continue as a going concern. The rinancial slalemenls do not Include the adjuslmenls that would resull if 11)e charity were unable lo continue as a going concein. Con¢luslons relating to going concorn We have nothing lo report in respect of Ihe following mallers in relation lo which the ISAS (UK) require us to reporl to you where.. The Trustees, use of the going concern basis of accounting in the preparation of the financial slalemenls is not appropriale.. or The Trustees have not disclosed in the financial slalemenls any identified material uncertainlies Ihal may cast significant doubl about Ihe charily's abilily lo conlinue lo adopt the going concern basis of accounting for a period of al least twelve months from the dale when the financial slalemenls are aulhorised for issue.

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND Other information The other information comprises Ihe information included in the Trustees, Report, other than the financial slalemenls and OUT auditor's report Ihereon. The directors are responsible for the other inlormalion. Our opinion on Ihe financial slalemeii15 does not cover the other information and, except to the extent olhewise explicilly slated in our repoil, we do iiol express any forin of assurance conclusion Ihereon. In connection with our audil ol the financial slalemenls, our responsibility is lo read th8 olher information and, in doing so, consider wholher the olher information is materially inconsislenl wilh the financial slalemenls or our knowledge obtained in the audit or ollierwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misslalemenls, we are required lo determine whether Iliere is a material misslalemenl in the financial slalemenls or 3 material misslalemenl of the olher information. If, based on Ihe work we have performed, w@ conclude that there is a material misslalemenl ol this other information, we are required lo report that fa¢1. We have nothing lo report in this regard. Matters on whlch wo aro roqulred to roport by oxcoptlon In the light ol the knowledgo and understanding of the Charitable Company and ils environment obtained in the course of the audit, we have nol Identified material missl8lemènls in the Strategic Report and the Directors, Report. We have nolhing lo report in respect of the following mallers in relation lo which the Charities (Accounts and Reporls) Regulalions 2008 require us lo report lo you il. in our oplnion., adequate accounling records have not been kepl or returns adequate for our audit have not been received from branches not visiled by us., or the financial 51alemenls are not in agreemenl with the accounting records and reluins.. or the financial slalenienls are nol in agreemenl with the accounting records and returns., or we have nol received all Iho information and explanations we require for our audit. Rosponsibilitlos of Trustoos As explainod moro lully in the slalemenl of Trvslees, ro5ponsibililies. the Trustees, who are also the directors ol the charity for the purpose of coirpany law, are responsible for the preparation of the financial slalemenls and for being salislied Ihal thèy give a Iruo and fair view, and for such internal control as the Trustees delermine is necessary lo enable the preparation of financial slalemenls that are free from material misslalemenl, whelher due to fraud or error, In preparing the financial slalomenls, the Truslees are responsible for assessing Ihe charity's ability lo continue as a going concern, disclosing, as applicable, mallers Telaled lo going concern and using the going concern basis of accounting unless Ihe Truslees either intend lo liquidate the charitable company or lo cease operations, or have no realistic allernalive bul lo do so. Audltorfs re$pon5ibilltlos for the audit of the flnancial statements Our objectives are lo obtain reasonable assurance about whether Ihe financial slatemenls as a whole are free from material misslalemenl, whether due lo fraud Of error, and lo issue an audilorfs report that includes our opinion. Reasonable assurance is a high level of assurance bul is nol a guarantee thal an audit conducted in accordance with ISAS (UK) will always delecl a material misslalemenl when il exists. Misslalemenls can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected lo influence the economic decisions of users laken on the basis of these financial slalemenls.

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND A furiher description of our responsibilities is available on the Financial Reporting Council's website at.. hllps'.11 www.IrG,org.uklaudilorsrespon5ibililies. This description forms part ol our audilovs report. Our approach lo identifying and asse55ing the risks of material misslalemenl in respecl ol irregularities. including fraud aiid non-complianGe wilh laws and re9ulalions, was as follows.. the engageinenl partner cnsured that the engagement team eolleclively had the appropriate competence, capabilities and skills lo identify or recognise non-compliance wilh applicable laws and regulations., we idenlified Ilie laws and regulations applicable lo the company Ilirough discussions wilh directors andlor senior managemenl, and from our coinmercial knowledge and experience ol Ihe sector,. We focused on specific laws and regulalions which we ¢onsidered may have a direct material elfecl on the financial slalemenls or Ihe operations of the company. including Companies Act 2006, laxalion legislalion, data proleclion, anli.bribeiy, employiiienl. eiivironmenlal and lieallh and safely legislation we assessed the exlenl ol compliance with the laws and regulations identified above through making enquiries of management and inspecting legal corre5pondence', and identified laws and regulalions were communicalcd within the audit team regularly and Ihe leam remained alert lo instances of non-compliance Ihroughoul Ihe audit. We assessed the susceplibilily ol the company's financial slalemenls lo material misslalement, including obtaining an undefslanding of how fraud might occur, by.. making enquiries of management as to where they considered there was susceplibilily lo fraud, IheSr knowledge of aclual, suspected and alleged fraud.. and considering the inlernal controls in place to miligale risks ol fraud and non-compliance wilh laws and regulations; To acsdress the risk of fraud through management bias and override of Gonlrols, we.. performed ancilylical procedures lo idenlily any unusual or unexpected relationships., lesled journal eiilries lo identify unusual Iransaclions., assessed whether judgements and assumptions made in determining the accounting eslimales sel out in Note 2 weie indicative ol polenlial bias., and invesligaled the ralionale behind significant or unusual Iransaclions., In response lo the risk of irregularilies and non-compliance with laws and regulatlons, we designed procedures which inGluded, bul were nol limiled lo.. agreeing financial slalemenl disclosures lo underlying supporling documenlalion., reading the minules of meetings of those charged with governance.. enquiring of management as lo actual and potential liligalion and c12ims', and reviewing correspondence with HMRC and the company's legal advisors., There are inherent limitations in our audit procedures described above. The more removed Ihal laws and regulations are from financial Iransaclions, the less likely il is that we would become aware of non-compliance. Audiling standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence. if any. Malerial misslatemenls th31 arise due lo fraud can be harder lo delecl than Ihose that arise from eiror as they may involve deliberate concealment or collusion. This report is made solely to the charitable company s members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so Ihat we might state to the parent charitable company s members Ihose m211eTS we are required lo slate to them in an audilols report and for no other purpose. To the fulle51 extent permilled by law. we do not accept or assume responsibility to anyone other than the company and the charitable company's members as a body, for our audit work. for this report, or for the opinion5 we have formed.

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted Endowment funds funds 2022 2022 Total Unrestricted Endowmènt funds funds 2021 2021 Total 2022 2021 Notes Income and endowments from: Donations and legacies Charitable aclivilies Inveslmenls Olher income 11,258 9,417 45,000 146 11,258 9,417 45,000 146 10,327 3,419 42,500 17 10,327 3,419 42,500 17 Total Incomè 65,821 65,821 56,263 56,263 ondituro on.. Raising funds 5,892 5,892 5,746 5,746 Charitable activities 50.619 25 50,644 53,041 25 53,066 Total expondituro 56,511 25 56,536 58,787 25 58,812 Nel gain51{losse5) on investmen15 1155,326} (155.3211 93.513 93.518 Net moveinciit in funds 1146,0161 1201 1146.0361 90.989 120) 90.969 Fund balances al 1 January 2022 1,279,705 1.711 1,281.416 1.188,716 1,731 1,190.447 Fund balancos at 31 Docember 2022 1.133,689 1,691 1,135,380 1,279,705 1,711 1,281,416 The slalemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies.

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL POSITION AS AT31 DECEMBER 2022 2022 2021 Notes Flxed assots Inveslmenls 13 1,048.021 1,208,637 Current assots Debtors Cash at bank and In hand 14 25 90,435 200 75,658 90,460 75,858 Credltors; amounts falllng due wSthln one year 15 13,101) {3,079) Nel current assets 87,359 72,779 Total assets loss ¢urr8nt Ilabllltles 1,135,380 1,281.416 Capltal funds Endowment funds - general Income funds Unreslricled funds 1,691 1,711 1.133,689 1,279,705 1,135,380 1,281,416 The company Is enlilled lo the exempllon from the audll requlremenl contained In seGllon 477 of the Companles A¢1 2006. for the year ended 31 December 2022, although an audit has been carried out under section 65 of Iha Charilies Act INI) 2008 The directors acknowledge their responsibilities for complying wilh Ihe requirements of the Companles Act 2006 with iespecl lo accounling records and the preparation of financial slalements. The members have not required the company to obtain an audit of ils financial slalemenls under the requirements of the Companies Act 2006, for the year in question in accordance wilh section 476. These financial slalemenls have been prepared in a¢cordance wilh the provisions applicable lo companies subject lo the small companies regime, The financial slalemenls were approved by the Trustees on Rev P Moore Bsc BD PGCE Trustee MrHMOrrKC Trustee Company registration number R0000680 10-

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Notes Cash flows from operatlng a¢tlvStSes Cash absorbed by operations 18 {35,518} (44,477) Investlng actlvltles Purchase of investments Proceeds from disposal of investments Investment income received (6261 11,453 39,468 {1.145,5531 1,132,926 33,110 Net cash generated from Investlng actlvltles 50,295 20.483 Net cash used In flnanclng actlvltleg Net Increasel(decreasel In cash and cash equlvalents 14,777 {23,9941 Cash and cash equivalents al beginning of year 75,658 99,652 Cash and cash equlvalents at end of year 90,435 75.658 11

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 AG¢ounting policies Charity informatlon The Society for the Orphans and Children of Ministers and Missionaries ol the Presbyterian Church in Ireland is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Glengall Exchange, 3 Glengall Street, Belfasl, Co. Anlrim, B T12 SAB. 1.1 Accounting convontion The financial slalenienls have bean prepared in accordance wilh the charity's memorandum & articles. the Companies Act 2Q06 and 'Accounling and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparin9 Iheir accounls in accordance wilh Ihe Financial Reportin9 Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencin9 from 1 January 20161. The charity is a Public Benefit Enlily as defined by FRS 102. The fiiiancial slaleinenls are prepared in sterling, whicli is Ili& lunclional currency of the charity, Monetary amounts in these financial slalemenls are rounded lo 11)è nearest £, The financial slalemenls have been prepared under the historical cost convention, modified lo inclLJde the revaluation ol Ireohold properties and lo include inveslmonl properties and certain financial in51rumenls al fair value. The principal accounliiig policies adopied are sel out below. 1.2 Golng concorn The direclors have assessed Ilial The Society for the Orphan5 and Cliildren of Ministers and Missionaries ol the Presbylerian Church in Ireland has adequate resources lo meet the ongoing costs of the enlily for Ihe minimum of 12 months from Ihe dale of signing the financial slalemen15. For this reason, the financial slalemenls liave been prepared on a going concern basis which presumes the realisalion of assets and liabilities in the normal course of business. 1.3 Charltable funds Unreslricled lunds are available for use at the diseielion of the Truslees in furtherance of Iheir charitable objoclives. Resliicled funds are sublecl lo specific conditions by donors as lo how they may be used, The purposes and uses of the reslricled funds are sel out in the notes lo the finaiicial 51alemenls. Endowmenl funds are Subject to specific conditions by donors Ihal Ihe capital musl be mainlained by the charity. 1.4 Income Income is recognised when the charity is legally enlilled lo il afler any performance conditions have been mel, the amounts can be measured reliably. and il Is probable that income will be received. Cash donations are recognised on receipl. Other donalions are recognised once Ihe charity has been nolilied of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in Telalion lo donations received under Gift Aid or deeds of covenant is recognised al the lime of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as 2 conlingenl asset. 12

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DEGEMBER 2022 Accounting polScies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constTuclive obligalion lo transfer economic benefil lo third party, il is probable that a transfer of economic benefits will be required in selllemenl, and the amount of Ihe obligation can bo Ineasured reliably. Expendilure is classified by aclivily. Tlie costs of each activity are made up of Ihe total of direct costs and sliared costs, including support costs involved in undertaking each aclivily. Direct costs allribulable lo a single activity are allocalod directly lo Ihal activity. Shared cosls which conlribule to more Ilian one aclivlly and Slipporl costs which are not allribulable lo a single activity are apportioned between Ihose activities on a basis consislenl with th& use ol resources. Central staff costs are allocaled on the basis of lime spent, and depreciation charges are allocated on the portion of the assel's use. 1.6 Flxed asset investments Fixed assel inveslinenls are initially measured al transaction price 6xcludin9 transaction costs, and are subsequently Imeasured at fair value al each reporting dale. Changes in fair value are recognised in nel inGomel{expendilurè) for the year. Transaction ¢osls are expensed as Incurred. 1.7 Cash and cash equlvalents Cash aiid cash equivalents include cash in hand, deposits held al call with banks. other shorl-lerm liquid inveslmeiils with original malurilie5 of three months or less. and bank overdrafts. Bank overdraf15 are shown within borrowings in currenl liabilities. 1.8 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Fiiiancial Inslrumenls, and Section 12 'Qlher Financial Instruments Issues, ol FRS 102 to all of ils financial inslruinenls. FinAncial inslrLimen15 are recognised in the charity's balance sheet when the charity becomes party lo the conlfaclual provisions of the insliumenl. Flnancial asse15 and liabilities are offset, with the nel amounts presonled in the financial slalemenls, when there is a legally enforceable right lo sel off Ilie recognised amounts and there is an intention lo sellle on a net basis or lo realise the asset and sellle the liability 5imullaneously. Baslc finaiicial assets Basic financial assels, which include debtors and cash and bank balances, are initially measured at transaction price including Iransaclion costs and are subsequently caTried al amortised cost using the effective interest Inelhod unless Ihe arrangement conslilules a financing Iransaclion. where Ihe Iransaclion is measured al tho presenl value of the future receipts discounled al a Inarkel rale of interest. Financial assels classilied as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities. including creditors and bank loan5 are inilially lecognised al transaction price unless the arrangemenl conslilules a financing Iransaclion, where the debt inslrumenl is measured al the present value of the future payments discounted al a mafkel rale of interest. Financial liabilities classified as payable wilhin one year are not amortised. Debt instruments are subsequenlly carried al amortised cost, using the effective interest rale method. Trade Creditors are obligations to pay for goods or seryices that have been acquired in Ihe ordinary course of operations from suppliers. Amounls payable are classified as current liabililies if payment is due within one year or less. 11 not, they are presented as non-current liabilities. Trade credilors are recognised initially al transaction price and subsequently measured al amortised ¢051 using the effective inleresl method. 13-

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Ac¢ounting policies Icontlnuedl Derecognition of flnancial liabllltles Financial liabilities are derecognised when Ihe charity's conlraclual obligations expire or are discharged or ancelled. Crltlcal accountlng estimates and judgements In the application of the charity's accounting policies, the Trustees are fequired to make judgements, eslimales and assumptions about the carrying amaunl ol assets and li3bililies Ihal are not feadily apparent from other sources. The eslimales and associated assumption5 are based on historical experience and other facloT5 that are considered lo be relevant. Actual results may differ from these eslimales. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only Ihal period. or in Ihe period ol the revision and future periods where the revision alfeGls both current and future periods. Donatlons and legacles 2022 2021 Francis Curley Charitable Fund 11,258 10,327 Charltablo activltles 2022 2021 Congregational subscriplions Personal subscriptions 4,037 5,380 2.809 610 9.417 3,419 Investments 2022 2021 Income from listed investments 45,000 42.500 14

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 other income Unrestricted Unrestricted funds funds 2022 2021 Other Income 146 17 Ralslng funds 2022 2021 Inveslmenl management costs 5,892 5.746 5.892 5,746 15-

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charitable activities 2022 2021 Orphan grants Education grants Exceptional granls Managemenl selvioes General expenses Prinling and slalionery 22,631 17,325 24,194 IS,750 1,500 8,429 1,548 145 8.604 534 49,094 51,566 Share of governance costs (see note 9) 1,550 1,500 50,644 53.066 Analysis by fund Unreslricled funds Endowment fuiids - general 50.619 25 53,041 25 50,644 53,066 Support costs Govornanco osts 2022 2020 Audil fees 1,550 1,550 1,500 1.550 1,550 1,500 Analysed between Charitable aclivilies 1.550 1.550 1,500 10 Trustees None of Ihe Trustees lor any persons connected with them) received any remuneralion or benefits from the Gharily during the year. 16-

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 11 Employees No persons are employed by the Society. Management seNices are provided by Ihe Presbyterian Children's Society for which a charge is made. 12 Net galnslllossesl on Investments Unrestricted Endowment funds funds Total Total 2022 2022 2022 2021 Revaluation ol investments 1155,326) 1155,321) 93,518 For tho ycar ondod 31 December 2021 93,513 93,518 13 Flxed asset Investments Llstod Investmonts Cost or valuatlon At 1 January 2022 Additions Valualloii changes Realised gains Unrealised gains Disposals 1,208,637 626 13.744) 16781 1145,367) 111.453) Al 31 December 2022 1,048,021 Carrying amount At 31 December 2022 1,048,021 Al 31 December 2021 1,208,637 Listed investments are slated al markel value. Day lo day management of the Inveslmenl Portfolio is carried out by regislered investment manageis, Sarasin & Partners LLP. 14 Debtors 2022 2021 Amounts falling due within one year: Trade debtors 25 200 17-

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 15 Creditors: amounts falllng due withln one year 2022 2021 Accruals and defefred income 3,101 3.079 16 Analysis of net assets between funds Unrostrictod Endowmont funds funds 2022 2022 Total UnrestTicled Endowment funds funds 2021 2021 Total 2022 2021 Fund balances al 31 December 2022 are represented by.. Inveslmenls Currenl asselsl(liabililie51 1,046,330 87,359 1,691 1,048,021 87,359 1,206,926 72,779 1,711 1,208.637 72,779 1,133,689 1,691 1,135,380 1,279,705 1,711 1,281,416 17 Relatod party transactlons There were no disclosable re131ed party Iransaclions during the year {2021 nono}. 18 Cash gonoratod from operatlons 2022 2021 (Deficilllsiirpus for Ihe year (146,03SI 90,969 Adjuslmenls for. Iiiveslmenl income recognised in slalemenl of financial aclivilles Fair value gains and losses on investments 145,0001 155,321 142,5001 (93,518} Movemen15 in working capital., Decrease in debtors Increase in creditors 175 22 275 297 Cash absorbed by operations {35.5181 144,4771 18-