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
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
.11 |.041201S
Angela Craigan (Senior Ststutory Auditor}
Chartèred Accountants
Statutory Auditor
Cenlrepoinl
24 Ormeau Avenue
Belfast
Northern Ireland
BT2 8HS
Harbinson Mulholland is eligible for appointment as auditor of the charity by virtue of ils eligibility for
appoinlmenl as auditor of a company under of seclion 1212 of the Companies Act 2006.

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-