## **ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 December 2024** 

**Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland** 

Charity registration number NIC101833 (Northern Ireland) Company registration number R0000680 



## CONTENTS 

|CONTENTS||
|---|---|
||_Pages_|
|Foreword|2|
|Annual General Meeting|3-5|
|Information|6-7|
|Financial Statements|8-29|



1 



Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland 

Dear Friend, 

On behalf of the Board of Directors, I would most sincerely like to thank all those congregations and individuals who have faithfully supported the work of the Society during the past year. 

Through your generosity, we continue to make a positive difference to the lives of the children and young people of our Ministers and Missionaries. 

I commend the work of the Society to you for your continued prayerful and financial support. 

Yours sincerely 

_Mr Jason Nicholson_ 

Secretary/Treasurer 

Glengall Exchange, 3 Glengall Street, Belfast BT12 5AB: Telephone +44 (0)28 9032 3737 President: Mr H. M. Orr, K.C. 

Honorary Secretary/Treasurer: Rev S. P. Moore, B.Sc., B.D., P.G.C.E. Secretary/Treasurer: Mr J. G. Nicholson, B.A. (Hons) 

**REGISTERED WITH THE CHARITY COMMISSION FOR NORTHERN IRELAND NIC101833** 

2 



## ANNUAL GENERAL MEETING 

The Annual General Meeting of the Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland was held in Meeting Room 7, Assembly Buildings, Belfast on Tuesday 11[th] March 2025 at 12 noon.  Arrangements for the meeting had been approved by the Board of Directors. 

Welcoming Directors and guests to the meeting, Mr Mark Orr, K.C., President of the Society, illustrated the importance of the work of the Society by referring to his own experience of having been supported by the Society as a child, following the untimely death of his late father.  He continued: 

It gives me the greatest pleasure to welcome you all to the 152[nd ] Annual General Meeting of the Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland. 

I would now invite Rev Stephen Moore, Honorary Secretary and Treasurer of the Society, to present his Annual Report. 

> The Report of the Honorary Secretary and Treasurer of the Society , was presented as follows: 

Matthew provides us with an insightful summary of the ministry of Jesus among the people of his day: 

35Jesus went through all the towns and villages, teaching in their synagogues, proclaiming the good news of the kingdom and healing every  disease and illness.[36 ] When he saw the crowds, he had compassion on  them, because they were harassed and helpless, like sheep without a shepherd.[37 ] Then he said to his disciples, ‘The harvest is plentiful, but the workers are few.[38] Ask the Lord of the harvest, therefore, to send out workers into his harvest field.’ 

(Matthew 9:35-38) 

Jesus clearly prioritised the teaching and proclamation of the gospel message of salvation, but not to the exclusion of providing practical help and physical healing to those in need.  This reflects God’s concern for us in the wholeness and oneness of our humanity. 

It is so moving to see the deep compassion that lay at the heart of Jesus’ motivation as he discerns the lost and hopeless nature of the people he encounters.  He, the Good Shepherd who lays down His life for the sheep, cares for them regardless of whether they respond to his invitation to follow Him or not. 

However, He exercises particular compassion towards those sheep who respond to His call to follow Him, but who also experience suffering and sadness.  Jesus’ heart breaks when His disciples go through dark valleys, but He is the one who fulfils the promise of Psalm 23 by walking especially close to them on those parts of their journey which are overshadowed by despair and death. 

Furthermore, Jesus is deeply concerned to ensure that there are sufficient workers to engage in the harvest.  The existence of a support network for those workers and their families helps to encourage and foster a willingness to serve. 

So it is that the Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland continues to share in the ongoing ministry of Christ by providing practical support for those families of the under shepherds and harvest workers which are in distress and beset by difficulties. 

3 



In 2024, the Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland supported seven orphans in four families.  A total of £23,455 in grants was made to these families during the year. Assistance is provided to such children, if necessary, up to the age of twenty-five. Following the assignment of appropriate funds to the orphan children, the available balance is used to help with the educational and other expenses of ministerial, missionaries’ and deaconesses’ families where there are exceptional needs and where income is limited.   In 2024, a total of £18,001 was given in education grants to sixteen ministerial families and four missionary families.  A further £500 was also disbursed to alleviate short-term (emergency) needs by way of exceptional grants. 

The Society’s income during 2024 amounted to £16,408. This was made up as follows: Bank Interest £803; the Francis Curley Charitable Trust £13,265; and subscriptions from individuals and congregations totalling £2,340.  A total of £41,956 was paid out in grants (across all categories), expenses were £11,533 and investment management fees were £6,307.  There was a budgeted deficit of £43,388 at the end of the year which, having been previously agreed by the Board of Directors, was addressed by our cash balances in Danske Bank. The net value of our assets as of 31st December 2024 was £1,292,659. 

Mr John Hunter, who has provided the Board of the Society with wise and helpful counsel over many years, has indicated that he plans to resign as a Director in March 2025.  The Directors have noted his intended resignation with regret and express their sincere appreciation for his substantial contribution to the maintenance of good governance. 

The articles of our association require that one third of the Directors retire each year by rotation. This year Mr Martin Hampton, Rev Dr Gerry Clinton, Rev Lachlan Webster, Rev Barry McCroskery and Rev Sam Castles are required to retire but are eligible for re-election.  We are delighted that they are all willing to continue serving on the Board. 

The Directors record their gratitude to their counterparts in the Presbyterian Children’s Society for the use of office facilities and staff resources. 

We are greatly indebted to our Executive Secretary, Mr Jason Nicholson, for his dedication and devotion to the work of the Society, more than ably supported by Mrs Amy Boyd and Mrs Angela Magill. 

The Chairman, Mr Mark Orr, K.C., in moving the First Resolution, said: 

I would like to thank my colleagues on the Board of Directors for their dedication and support to the work of the Society throughout the year. In particular, I acknowledge the commitment of the Honorary Secretary, Rev Stephen Moore, who undertakes a significant workload on behalf of the Society whilst also serving a busy Belfast congregation.  Finally, our sincere thanks to the entire staff team for all their diligence and hard work throughout the year. 

I am also pleased to welcome to our meeting the former Moderator of the General Assembly, Very Rev Dr David Bruce, B.Sc., B.D., D.D. 

In seconding the First Resolution, Dr Bruce said: 

Mr Chairman, I am delighted to formally second the resolution before us, and in doing so I affirm the valuable work that the Society does, at this its 152[nd] Annual General Meeting. 

The twin aims of the Society are 

- a) To provide grants towards the education, maintenance and advancement in life of Orphans of Ministers, Missionaries, and Deaconesses of the Church 

4 



- b) To assist Ministers, Missionaries and Deaconesses in the education, maintenance and advancement in life of their chidlren. 

I remember well when I became an orphan.  It was six years ago, the same year that I became a grandfather.  And perhaps this is what our society in general has come to expect – that the harsh realities of tragedy in family life through the early loss of parents, are not how things will or should be.  But the sad facts remain that sometimes tragedy strikes, and the circumstances which follow, require practical, compassionate help. 

The assistance which the Society also provides to Ministers, Missionaries, and Deaconesses towards the education and maintenance of their children, has proved to be of genuine value, well beyond the financial additions to the family budget.  It demonstrates a heart of compassion towards servants of the Church who have followed God’s call, not for financial reward, but out of faithfulness to God and his mission in the world.  In short, it says that we care. 

So, in seconding this resolution, I greet you on behalf of the Moderator Designate who is attending another conference, and on behalf of the General Assembly, assuring the Directors and the Secretary of the deep appreciation of the wider Church. 

Following this, the Chairman, Mr Mark Orr, K.C., invited Mrs Naomi Leremore, Global Mission Worker (Keyna), to propose the Second Resolution. 

In proposing the Second Resolution, Mrs Leremore said: 

Mr Chairman, Directors, Colleagues and Friends of the Society, 

Thank you for the opportunity to speak to this resolution.  My family have benefited first-hand from the work of this great Society, and we are deeply grateful to you for all of the support over many years.  Knowing that we have the support of others at home, makes our work so very far away all the easier. Your generous support has enabled my children to enjoy opportunities, to buy materials for their courses, and tuition to nourish their talents.  Thank you most sincerely.  Finally, I have the great pleasure in proposing the Second Resolution: 

“That the Directors retiring by rotation be reappointed, and that Harbinson Mulholland be appointed auditors for the ensuing year.’’ 

The Chairman, Mr Mark Orr, K.C., then invited Dr Volker Glissmann, Global Mission Worker (Malawi), to second the Second Resolution: 

In seconding the Second Resolution, Dr Glissmann said: 

Mr Chairman, Directors, and Friends of the Society, 

I am very pleased to have the opportunity to address this meeting today.  Like my colleague, I can verify the real difference that the annual grants from the Society have made to my family, and in particularly my children.  They have helped my children to enjoy positive educational opportunities and experiences, and enabled us as a family, a long way from home, to enjoy some material comforts.  We are deeply grateful to the Society for its generosity, and to its subscribers for their help.  Thank you all, most sincerely. 

Finally, it gives me the greatest pleasure in seconding the resolution. 

Both resolutions were put to the meeting and adopted. 

The meeting closed with the Benediction. 

5 



INFORMATION 

1. Objects of the Society - (The following is an extract from the Society's Memorandum and Articles of Association):- 

   - The Objects for which the Society is established are: 

- (a) To make grants from the funds of the Society for and towards the education, maintenance, and advancement in life of Orphans of Ministers and Missionaries and Deaconesses of the Presbyterian Church in Ireland.   Such assistance shall, in each case, be given with due regard to the circumstances and needs of such orphans.   Each case must be reconsidered at the annual period of distribution.   Except in cases of students for the Ministry, no assistance shall be given to persons above 25 years of age. Preference shall be given to orphans who have lost both parents. 

- (b) To assist Ministers, Missionaries and Deaconesses in necessitous circumstances in the education, maintenance and advancement in life of their children, subject to the limit of age stated in paragraph (a) of this clause, provided that any funds are available after providing for orphans as aforesaid, as the Directors of the Society (hereinafter referred to as "the Directors") shall in their absolute discretion determine. 

2. Applications for Grants - should be made not later than 1[st] April for Orphan cases, and 18[th] September for cases in which the father is alive.   Application Forms may be obtained from the Secretary. 

3. Education Grants - are made for one year only (1[st] October – 30[th] September) and renewals must be re-applied for as above. 

4. Donations and Subscriptions - will be gratefully received by The Secretary/Treasurer, Glengall Exchange, 3 Glengall Street, Belfast BT12 5AB. 

5. Gift Aided Donations - are an easy and trouble free way of giving to the Society.   Simply by signing a gift aid form you can enable the Society to claim back some of the tax you are currently paying to the Inland Revenue.  Tax laws in the United Kingdom make this possible at no extra cost to yourself but to the considerable benefit of the Society.   Should you require any further advice regarding this matter, please contact: The Secretary/Treasurer at Glengall Exchange, 3 Glengall Street, Belfast BT12 5AB (Telephone: +44 (0)28 9032 3737). Email info@presbyterianchildrenssociety.org 

6. Form of Bequest - is set out below: 

I bequeath to the Society called "The Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland" the sum of * ______ to be paid to the treasurer for the time being of the said Society, free of all deductions whatever, the receipt of the said treasurer to be discharge for the same. 

_* The sum to be written in full._ 

6 



CONGREGATIONAL SUBSCRIPTIONS 

|AHOGHILL, BROOKSIDE<br>ANTRIM, HIGH STREET<br>ARMAGH, THE MALL<br>AUGHNACLOY<br>BROUGHSHANE, FIRST<br>BURT<br>CAVAN<br>DRUMLOUGH<br>LARGY<br>MONEYMORE, FIRST<br>MONEYMORE, SECOND<br>MYROE<br>REDROCK<br>AHOGHILL, BROOKSIDE<br>ANTRIM, HIGH STREET<br>ARMAGH, THE MALL<br>AUGHNACLOY<br>BROUGHSHANE, FIRST<br>BURT<br>CAVAN<br>DRUMLOUGH<br>LARGY<br>MONEYMORE, FIRST<br>MONEYMORE, SECOND<br>MYROE<br>REDROCK||200.00<br>300.00<br>300.00<br>150.00<br>146.00<br>150.00<br>164.17<br>100.00<br>275.00<br>114.00<br>86.00<br>200.00<br>30.00<br>2,215.17<br>200.00<br>300.00<br>300.00<br>150.00<br>146.00<br>150.00<br>164.17<br>100.00<br>275.00<br>114.00<br>86.00<br>200.00<br>30.00<br>£2,215.17|
|---|---|---|
||£||
||||



## PERSONAL SUBSCRIPTIONS 

Personal donations, including gift aid, were also received by the Society to the amount of £125.28 

7 



ANNUAL REPORT  AND  FINANCIAL  STATEMENTS 

For the year ended 31 December 2024 

8 



The Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland 

Annual report for the year ended 31 December 2024 

||Pages|
|---|---|
|Society directory|10<br>10|
|Trustees’ report|11<br>11|
|Statement of Trustees’ responsibilities|14<br>14|
|Independent auditors’ report|15<br>15|
|Statement of financial activities|17<br>19|
|Statement of financial position|18<br>20|
|Statement of Cash Flows|19<br>21|
|Notes to the financial statements|20<br>22|
|Detailed statement of financial activities|29<br>31|



9 



THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND
MISSIONARIES OF THE PRESBYfERIAN CHURCH IN IRELAND
LEGAL AND ADMINISTRATIVE INFORMATION
ThJ•ts••
RevGAJ F￿*￿Th￿IMTh
lar M H*)1)1￿ PILI
Mr J Hunter &4 MBA CB
H Johnston Bsc CIPD MA
Rev S P Mo¢xe Bsc BO PGCE
MrHMthrKC
Rev L BTh (liF•A
R•v th G W ch￿rt￿ Bsc IRCSII Msc CW•t PhD Dymin MDtr¥
Rev S J Caitl•s Bse BD
Re¥ L W ￿ller
Rw4 8 J McCTosk8ry Bse BD MPhll
Mrs P McCulW BSC MS
Mr•A St•*art MEd C•rtEd DASE LTIX
(Resigned Ilth March 20251
9Thgr•ry 8•¢w•tsry Ind Tr•Mw•r R•v S P Mowe &Sc BO PGCE
8•¢rntsry aml TTr••¥r•r
Mr J G NthI￿n BA{Honsl
Ch•rlty Tr￿Mb•1
Cgmpany Nmb•r
GWI Exehpr
B•lla8t
BT12 SAB
Audltor
Harbln•on MuMlaTrJ
6th Fkyy East Tow
8 PIX•
Bollall
BT1 3LP
Bank•
Dansk• Bank
Bemat
8T18JS
80licitorn
Mwray Hc¥Jse
￿￿TaY Slf•et
BT18DN
io

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND
MISSIONARIES OF THE PRESBYfERIAN CHURCH IN IRELAND
TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees Iwho *• also d*•(thl Ilw repryt oTh1 tlw •Klrted fn•Kaal liat￿￿nIS lortho onded 31
Oecember 2024.
The finanrAal slalements cth wrth Ihe Chaiitw Ad {NOrt￿th Irol*¥Jl 2(Th. th• Companies Act 21M)6 and
Al)￿nI￿ and R•ffi"ry by Ch•rt*s". Stalèn￿1 of ReC>M￿ Prad•x appltabl• to chanbe8 preparirrtj theSr
ac(ounls ￿ ace¢*darth ¥Ath thg Fina￿1￿1 R•F#ybty Slar*J¥d appkable Mi th• UK #nd Republlc of Ireland IFRS
1021.
The thrily li •Mrned accordlng to the comp￿1 aThl wtkJ•s.
R••ult•
The nèt inLxwnlw lof lh• yw •)K￿ntsd to £98.917 {net ouWn9 movement in fund¥ 2023 .
£58.3821.
Total incom• ihty*ed a 1,VA incr•aae C￿ tho w•¥kxi8 yew (2023. £16.1011. In￿1￿ •xpan￿1
inveased by 97.3%12023.. £3,196), marwgoffl•nt •nd govèmw •xpww irm•Md by 3.2% (2023.. £11.185}
aThJ c*adtai48 èXFthJrture in¢￿80d by 2 8%12023'. £40.810).
The lcdI￿bnq n￿Mbar ol Im￿d..
2024
20
Orphan Grnnt8
Educaiirffi Grwrt•
21
Havlng b•8n pr•¥byrnly •w•ed by lh• Bowd ol Irvxrn Irr￿ Inw•bMnt• durlng 2024.
Grant.m8kty athivit*8 funded frrrfn ¢•th •¢ Dwwo Bth.
PrIncI￿1 •cU¥lth•. rwl•w ol th• bu•lnM• & fU￿rn d•¥•low•
The pnnc*¥l of th• Scw w• fr•," 10 ty gr*)ts Imm lh• frJnd• of Ihe SW. orphan8 and chAdren
of Mintsl8rs. MrJsK)n¥l•s ar￿ D8acxThss•s ol Ihe P￿by￿n ClwJrch In Ir•t•nd. 8Th1 *(yJThJty', lo ossist Ministèrn,
MIS￿0n3¢1es and DeKon•8ses ol tho Pr•strfftnan In Ireland in nec•s•ltfJJs orwm$lan¢x$ in the 8(knt4Uon
of Ihèlr rhlldren.
The d*•¢t￿$ orKwrag¢d by of subsc¥ipbws for Ihe year aTrJ woubj thot c•ngr8gations ￿11
conbnu• to pr•y•*ulty tsJMbJer ts r*ed$ of this work of fv Churth. Ihe year th8 obpthv•s ol the chwty
were to makè O￿an grnnt payrT￿ts gwti lo thihjren ol Minists￿. MI￿on￿rI•S and D8acKJn868e•,
The Sodety for the Orphans arxl Chldr•n of Mini¥lws •r*J tho Prnsbylffi￿ Churc* in IreLwYl tj
gt$ter•d as a charSty with th• Ch#rili• Cwmis5￿ fty Nortl*n Iroland with r8wtiakn ryJrr&bw NIC101833.
Th$ 2024 obiecti¥es ol The SWI th• and Clklth•n of Mrlst•rn aThJ Missx)nwws of the ProJbyt•rlan
Churth In Ireland are as Ic4kFws".
-To conts'nue to pay orphan grants lo thildren
.To ￿"r￿Je to grant
Thèse will be d¢peThJent upon th• apr4c*ms arh1 t* F•J kn kne wrfh a5 51LDulat8d by the
Sodely.
li

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND
MISSIONARIES OF THE PRES8YfERIAN CHURCH IN IRELAND
TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEA18ER 2024
Ihe a*Jth0￿tY its Wjmintster dwty and ts day lo • Lw¥al*xs. d￿Y mon•g¢m*￿ of
¢harity has boen delegated to SeuetarylTr•a¥w•rwho i• lo th? board.
Grnnt m•klng polky
Thè eharlly inmtos Op￿￿¥110n9 lof the frJrthy olgrwrts to These arplulKYo we agw
Ipeufic ￿terIa and objectives whth afv s•t by th• dir8Ctois. in pLoxdarth wth the obpclws of Ihe charity.
Inv••tsMnt poU¢y
charKY$ Ivnd *• Sw•KI a LLP *•K¥ w• lo pur%￿ • ol m•xlml•lf¥J Incom• whillt
maintaining 8om8 Caprtal wcrfh. This perf￿￿ in ocwda￿* wrfh tm Sc4*s •thul gLMdelin8s whlch
prohibil InveJlmènt in ¢ompanio$ w4h spjnificanl irtWe8ts in ¥k4*d, lobK<¢. manufath￿ry and
expl¢ilative thikl laboui.
It li lh• polky of fv dwrty to Ww••1￿ finJB, **dth arn fr•• ￿ r•1•￿ of thè ch*lty. at o ￿¥•1 wh
equal•s 10 approximat•ty one year's untestrict•d expen¢*lfft This sufficwl funds lo eAMr mwm•rrt
and admln151ratKsn eost$ and respond to •mwg•nw applulknn• lof grants whts￿ Irom IHn• to tim•.
The direct￿$ have èxa￿[￿1 arKI rnajor iisks its th• thanty is èxpomd. ￿ parti￿1•r tho
related lo the 0￿ra￿OnI and fin•ntss of the Scthty ￿ •r• th•1 •Joqu•i• sy5tWn8 ¥• li place so thal
the nece88Ary Steps b• takèn lo ltsjae risks.
Grnn¢• to ¢hlktr•n
Durtrq th• y•ar the Sotydy h•• made ￿ 01£41.W l>)23.' £40.810) n•od.
Golng conc•m
Thts dkn¢¢i￿ bekve th•1 Ihwe are no maltrial unc*rtaintN•s that cast slgnlficanl (J¢yJbt about the charity'8 #￿IllY to
Itin￿ as a conc•m aThJ thè fin4nts4 Ststem￿S how t>een N•paf•d on thts basis.
Dlr•etorn
The dlreclows who served the Soc*ty during the year are li8tod as part of ow Legal aThJ AdmirM$trabv8 Inknmakn.
The dnLlors are appwled ￿ acwdanc• wth the companys menwxaTrdum anLI ar*'de¥.
12

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 2024
comp8nle6 subj.ect lo thè tymol oJmpa*• rngww* wih"n w 15 ollhfr Comp•thAI# 2￿￿.
Dl•clo•urn of Inlornmllon to lh•
So far a• p•1•￿ ¥Jho * • ¢Jlr•*K •t th• ¢J•K• ol rei*xt Is Mre. tsr• l• no felov￿ audit
knlcKmallon, b•lrrfJ Infony￿ n••ded ty I￿￿¢01 C41nnac*on preparing Ihis reF￿rt, ol the audttor18
urwiare. H8￿n9 m•J• •nqu¥iès of f•knv dirn¢￿ Ihe c4Jnwry'8 aLKlitor. thr•dor has lakon all the
step8 Ihat hel•h• ts oblwd to lak• as a dir•¢￿ ￿ Ofdef ts m•k8 4wA(• rn1o¥ant a￿j
Inlomal¥)n and to •stabli$h thai th• audrtor is aware ol ihat Informaim.
Audltorn
A rtssolullon to r••pOnt Hart>kn¢ffi Mull￿•3￿1 b• W to th• •1 the Arml G•nwal
M8•ling.
Thia r•Fryt ha¥ b￿n prepared Wbth fv •pea* 4gWtable to wbJ•ct lo thè
8mAII COrn￿nieS r•9irne wth'n part IS ol A# 2(Th.
y Ofd•r ol lh• 8oaf
MrJ G N1th￿sC
Secretary
041ed'.
)2-t￿r
13

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 2024
The Tnmtees, who a￿ JK* the ¢Jrectors olTh• Sxi8ty fof ¢>phans and of Mthht•rs aThJ Missk>n•rie8
of th8 Pre6b￿erIaTr Churth in Ireland for thè of Cl￿panY iav, are 1•spryis￿e for y4)8rkn¥J tha TvJ•l•e$'
Compony l#w th• Trust￿$ lo y•pw• fffiarwl StAt•m￿ for •ath fmarK4al year. Under that Lw tho
TnLslee8 have prepared th• financial slalements in accordar￿ ￿1h Unrt•J Kw)gdom Acc(wJnthg Stand8rdo,
comprv4iry FRS 102 -Tr* FinaThJd Stsndard #pFtha￿ in tho UK and Republ￿ of Ireland.. and
not appro¥e th¢ fin•nu¥ stat￿*￿ unl•ss I￿Y ar• Sath$f￿ and 18w v6•w of the slal• of Iho
affair5 of the Charitab￿ wmpany and ol th8 resoJrcth and apphcatb)n ol Incauding the ￿n￿m¥
and exp•n¢Yrfw¢, ol th• chailat4• Ihal In W•p￿9 Ih•se s1atwnw￿. th¢ Tms10
are required to..
. wl•cl Butsbkry acco￿lting ¥KI thèn 8Fpty th•m cfjnSi￿￿f.
. observe the molhods and in of R•c*#M￿8d Pra￿￿., Arthunting and
ReportirMJ by Ch8nh•i120151;
. make I￿10ments •stimat•s thai ar• r0a5c￿abKl aThJ prucknt." •nd
. prepare the finwcial Statem￿14 ¢n th• gry'TrJ cxxK•m ￿15 unl•u il IA lo w•wm• Ihal the
c*arllable company wll o)niinu• 4n
Th• Trustees are rel￿1￿ ts k••Fry •lwai• •fX¥>h)try r•r￿d* that w• suffid&nt Io 8IKw aTrJ ?xpl•ln the
charitable cwpany'i lrnns>Sthi *rylh r••%rfth •t tim• lh• w)silkn DI the
¢harrtal>le 0￿pary and •nabl• th•m to •n*w• Ihai lh• s￿•monts tgxnpty ¥nth th• C¢Jnpantes 2006
and Chartt￿ Act (Nothem Iro￿￿J￿ 2[￿. They are akn leiF4￿s￿lI ￿le9UardIng as￿￿ ol Ihe charrtabkry
e<Jmpany and hence for takkng reasonabl• 8t•pi fortr* •)d d•l•dhJn ol fra￿1 and other Irr•gukqrhl•$.
In chrtaln ebrtum$tsnC￿ dientl may chooM to indud• an 8ddNk)naf State￿nt h•r• l• r•qulr•d to b? m•d•
wrthii tM d*8cie(I' r•pyt as • res￿1 of SKbon 418 of the Comp•Th￿ Ad 2C#X.
the dot¢ the th'rectors. r•port L8 aFprO￿d. that..
{al ao lar as th• tru•t•e Is aw*8. th•r• kn no r•lMnt al tho cornwy'8 •ud#orn ar•
•waf•", •nd
(bl he has taken all th8 that h¢ ou9M to ho￿ laken •B a trustge in wdor to mak• himMII th¥a￿ of any
Rev S P Mooro Bsc BD PGCE
Trustee
Dat&J'.
14

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND
MISSIONARIES OF THE PRESBYfERIAN CHURCH IN IRELAND
INDEPENDENT AUDrroR'S REPORT
TO THE TRUSTEES OF THE SOCIEfY FOR THE ORPHANS AND CHILDREN OF
MINISTERS AND MISSIONARIES OF THE PRESBYfERIAN CHURCH IN IRELAND
Oplnlon
Mis8lonan•s Of ihe Pr￿bYle￿8n Church in IreW Ilhe 'thartyl for the year ended 31 December 2024 whith
comprise the slatenxni of finarKa* xbwtles. the stslement of finaroal po￿tiOn. the Btalemenl of cash ntyv$ artd
notes to the finanoal $tst8ments. indudtng ygnrfwl acrountsn9 The finana81 reportin9 fram¢work that
has been appl￿￿ in ttw'r wep8ralkJn 18 applratye and Unrt6d Wom Acc￿11￿9 &8rKlard$, induding
Finanoal Re(x)rting si*thrd 102 The Fina￿￿al ReKKyb"ng Slandard in Ihe UK and R￿￿b￿ ol Irol8nLI
In wr Opin￿n, the stslemenls.
gwe a true and lalr view of lh• il•tg of ts ch•ril•bl• •ff•Ys ￿ at 31 0•￿b0( 2024 ond of Ils
incomino rèsources and appIl￿b0￿ of resources. for the year then ended..
have been wrwiy prepared m wxudanc• Untsd K￿k*jOrn G•nw8My A￿pt•d Acc￿n￿r￿a Pra￿￿.,
Ba•1• lor oplnlon
We ¢t￿dUCted our In ac£*)rdonrn *ryth Intemaiiorwl Stsndard8 Audilthig IUKI IISAS (UK)) and ap￿katIe
tw Our respoThs*)Slrfiei undw thos• aiandards Bre further descr*btd ￿ Ihe Audilorfs r95ponslbilits•s for the audil of
lh8 fina￿0} slalenKgnls sec1K￿ ol ￿ f•￿￿. 8¥e IndeF￿￿1 of Ihè d4nty In Kct¥d8nce wrth Ihe olhlcal
uirements th•1 af• r•le*aM io t￿r a￿Irt thf the finaTrJal stalementi UK. irKILwJing the FRC'I ElhlrAI
Siand8rd. arKI w¢ hav• fv1fi118d Ouf •thul rèsp￿￿4111*$ wi a¢)xrfd*K* wth rnquIreM￿ts ￿ b•hthp
tho1 thè audit ewdenu we ha¥e oblain8d is suffKJMI appropriat• lo woYAl6 a baw• i)w 0KMn1￿.
Alat•rf•l w)c•rtalnty r•l•l•d 10 9olng ci)nc•rn
In feffjiirwj our on the finanoal slate0w￿$. whth IS not modrf*d, w• hav• cons4der•d the adequgcy ol the
J1#do$U￿ made In rrf)t• 1.2 to th• finar*A* 3tsi•m•it¥ Ilk• tharity's ats.lty to continue 88 a gdng
¢on¢gm. The charity has bo•n subjèct to a Staluw lrtquiry by Charity Ceffjmiss¥)n lof Northem Ireland. Th￿e
ndilions. abng wilh the other matt•r5 txplain•d In 1.2 to th• fir￿￿81 118t8mènt8. indKal• the exl8t•nce ol
rn818rlal unceflalnly which may casi significant doubl abovl the charty'i 8ts.hty lo tontinu• as a going Co￿rn The
finanu* statemerrti do not Ihe ¥djuslmwl$ tho1 mult rf the tharity ww• unth to c¥Jnltnu• as
goin9 ￿nCerTh
We have nothing to r•wt in respecl ol th• Di rda15on to the IS48 {UlQ requir• u• lo rep)rt
to you wher8..
The Truslee8' ol th• gotho ¢mm bail8 of •x>)uthg in ts pr•walitin of th• fin8ncl•l ststorn•nls 15
not approprial•". or
Thtr Trust•8s h•w dffj(*x•d in th• fknarKa•f •t•tsMe￿ maten•l w**rt¥￿Ik9l that may cast
signfftant &wbt cliwity's *"hty to to a¢W the ￿ ￿l¢aM b•si¥ of aminlfvJ for a
perie*J ol al least rncrfths from Ihe dat• Ibe finarKaal slaiwnenls a￿ •UltKrfl￿ for
15

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND
MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND
INDEPENDENT AUDITOR'S REPORT ICONTINUED)
TO THE TRUSTEES OF THE SOCIETY FOR THE ORPHANS AND CHILDREN OF
MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND
The other informatmin eomwi8•8 th• wi the Twsto•s' ReF*Yt, ts than th• fflnanc481
sialements and tyjr audrtof's rèport th•reon. The dir*etor8 are wpcwible for the other inlormotitin. Our cpinion
Ihe flnanaal slat•m•nls doés not c¥)v•r th• ¢)thw Inform￿￿￿} aThJ. except lo tho &Ktent oth•Thvise èxphouy 8laled
our report. we ¢Jo not éxpfess any form ol 8ssurarK• condu%on therwn.
In conngL*K)n *￿th our audrt ol the fina￿¥1 s*atwnent$. wr r¢spLYwbility is to r•atJ the other inforrnatkjn and, In
knowled9e oblained in the audrt w 01h•￿ise appe•r• to be matenalty misstst•J. If w• *l•ntrfy suth material
In¢on3isl8nrye$ or •pparent material milslalements. we are reqwrgd to d￿#M11n• whothef there ig a mot•rtal
m1$state￿Tht in Ihe finan(#al slalements Of a material misslatement of thè other inlom)ation. 11. based on Ihg work
w• have perfo￿¢d. wo condud8 that there ￿ a matwal ￿￿$•¢0¢￿1￿1 of thii olher we are requir•d lo
report that fxt.
Mmtl•r• on whkh w• •r• r•qulw•d to by •xwll
In the light ol Ihe knth¥ledgo and Und￿￿#￿thng ol chantab￿ company ￿ its •nbironmèni oblalned in th•
ourse of the audit. w• have noi rtJ•ntffj•d maltsnal mS$Stat￿nIs ￿ th• SIr¥leg￿ Répofl 4r#J lh• Directors, Rep￿1.
haN* nothing to r•wt in r•w ol Ihè le4bwwy m•tt8rn in felalknn io whK* lh• Charitt•8 (Aeeounts and
Rop￿1 Rewlations 2(£48 r•y• UB to réF¢MI to you rf. 0￿￿￿.
frorn branthe• nol visrted by u$.
certain discloiuftss ol tru8t•88' iemunernlw)n spedlknd by law ￿ not m•dg' c*
th8 fin8nu818toièrnents ar• Th)¢ In agreement wilh Ihè actI)￿lIng r•cord8 and r•tum•,'
we r•c•l¥ed al the •TrJ ￿￿an¥11￿$ w• r•qult• fc* audlt.
RMpoMit>ilitlH ol Tru•tw•
Ao explained more fvlly In the stst8m•nt ofTrusle•s' mponwWth¢$, IM TN$lees, who are also the th'redors of the
¢h8rlty for Ihe purpo•e of company ￿. we respon￿￿ for Ihe preporo1•)n ol lh• finand81 ilatemenls and lor bèir¥J
l•bsf￿d thal Ilw a In￿ aThl f*r ¥18w. for intwnal wilrol ￿ th¢ Trust•tt d•t•miine ts neces￿ry to
•nable the preparabw oi fin￿￿1 itstoments that are free frorn rn*8￿91 rn1sstatem•nt. whether due lo fraud or
In pr¢parin9 Ihg flnanual statements. the Tnjslees *r• •uo$ing th• L*•rty's a￿.Ity to ¢ertinu• as
90in9 ￿n￿rn, dixgosiTrJ. as appI￿Able. malter• rotslgd c&wm and U￿r￿j the goiThJ ¢0￿M tya$is of
I¢￿￿tIng Unle￿ Ihe Trust￿ erth•r *rteTrJ lo liwkJ•i• th• dwit¥bl• c%ffip8ny Of lo (*••• operaticffjs, or hov8 Th)
realistK afternallve bul lo do so.
Audlt¢*s Mpw•lbllllO•s forlh• audlt oftr• fi￿•￿1•1 •tst•Thnts
Our objecbves are to rtitain reasonable assurarKe abwt whether the siatements 8$ o freè ffom
maierial misstatement, whethei due lo fraud C￿ e￿or. and io issue An a￿lItt¢S rewl thal incl￿S OpinK￿.
Reasonable gssurance is a high level of assurance bth 15 not a waranle• th* an •udrt Ixjnducted in accordan
ith ISAS IUKI will a￿ayS deted o material mBstatemtnt when rt exists. Misslatemenls can aris• from fraiKI or
•rTor and are cong•Jered materi* rf. indNKlually or ￿ the agorwJal•. th•y (x)uld rg8sonably bg •x￿eted to
16

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND
MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND
INDEPENDENT AUDITOR'S REPORT (coKfiNUED>
TO THE TRUSTEES OF THE SOCIETY FOR THE ORPHANS AND CHILDREN OF
MINISTERS AND MISSIONARIES OF THE PRESBYTERJAN CHURCH IN IRELAND
A fvrth8r desr•pts)n of w rnwstxlt*s ￿ a¥ailat4e on Il* Ffftar¥i* Repwts'ng Ccdmc4'8 w•bdt• at". https'.11
Ww.frc.or9.u￿aUdltrrye•wnSi￿1ths. Thm lomis part ofour repjrt.
Our appro8¢h to Iden￿'￿Tra a58e6sin9 lh• n•ks of m•tsri4 kn r•yJgo* of Mg￿8(￿1. ￿lUdi￿j
fraud ond norkcompliarKe vAth laws and r8gtht￿S. wras ￿ follm..
. I￿ •ngaoem*)t partrw •w8nl i••m colod￿•1Y h•d fv approprkqle compèt•nc•.
paly"lities ar•J skilL8 to ¢y r•ttoThs• non-ctsrFli￿ w.th laws sTrd WulatiL￿S,.
. we *dentsfied the 1•4vs and r•gulalh)ns io the Lwpany thrw dtsutssbjns di¥K**rs andlor
locutsd on spwfk laws and reguLg1ion$ whith ¥¥FJ consldwed m•y hovg a dlf•Ct mat•rfal offecl on the
finanual $18tgrnents ty the Operatity￿ of Ihe c4)rnpany. ind{￿ill9 Cry￿P￿lè5 Aet 2(*J8. taxation l•gist•tion, dala
enqulrS0s of Manag•m￿l and Misp•thng 1th3al cur•*p￿•￿ertt". •nd
. Idenllfi•d laws and iwlatx*ns w•r• comnwmut•d wthln th• l•wn ryl•rty t•wn rnmaknod
alort to in$tanc•8 of ncTrcomp16anc• thrwhout th• a￿11t.
a••eu•d Ihe suicwt4Mty fmrk>al 81•￿1￿￿ to malertd miBst•temont. Sncluding obl8lnlng
Unders￿n9 ol frI￿j MVJM 0¢￿, ty."
making enqi*riM of management as to whero th•y thw• to fr8thJ. tho
knovAed9e of actual. 6uspe¢led ¥nd allegod fraud..
4 cons￿e￿n9 the intem¥l control$ kn pl•c4 lo rnrtwg rf•k¥ of fr•wl •r#J rthFrmplLgnc• wilh lo￿ v
r•gula¢K)ns,
. perfomied anatyl*c41 pro(xlwei to thntrfy any unu•u81 w unexpgothj r•l*knthps'.
l•st8d journal 8ntrie8 lo #Yenbty uThJ6ual transadws..
. AJ8988ed thlher judgernenls anrj as8urnplw• m•d• In deterrinkng thè •)>)￿￿"n9 •8dmal•s set Wl In
No18 2 We￿ inth•tNe of pclenttral ts••'. •nd
In response to the risk ol iThe9uWies •KI (•ll￿C￿. tA• dOsh￿d prc¢odurn6
whleh inthdtd. Ixrt were nol limrted to..
. agr8•lng fInar￿al slat•mÈni th'sdo4w•$ to underlyln9 doowne￿.
. readmg the mThrt•s ol rneetings oftho8e charged wth govemanc*'.
eTh)urring of manag•rrnnt as to and F(Itnbal I￿.￿lOn and dalms,. and
Th•r* are Inhe￿nI limrtalions w) our audrt ryocwjwgs doKythd Th• rn￿￿ rtmov•d thal Im aThJ
regvlO1ions are from flnandal tr8nsactths. the less lik•ty it is thal we woukl berknmè awart of non￿￿mPlI8nCe.
Audsting standards also b.mrt thè audrt w￿¢durrt requir•d to K1enbfy rwl44ynpl￿nr¢ with laws and regulations to
materK￿ rnis5taiwnents that arise to tra￿1 C￿ be hardw to do￿ lh￿ Ilw? Ihat *ise fforn efrc¥ as they moy
involve ddiberate oywlmenl or ￿luS
17

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND
MISSIONARIES OF THE PRESBYfERIAN 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 PRES8YTERIAN CHURCH IN IRELAND
Thli reF(vt is rn*lè wl* to tr* L*wrtatle ftWf*us. M • boty. with Ch8pl•r 3 of Part
18 of thq Crynpw¥e8ArA 2C#X Ow wtyk ha• be•n ￿t•￿en to th•t TA• ff#ghl *•le to the parent tha￿￿ble
eL¥npanY5 membors those rnatt•rs wa we requ¥•(l ¢0 *te lo In •nd olh¢r wrpDSe.
To the fvlelt •xtent perrnltted by law, we do nol accwl ry 86&L￿ to 4rryw• rthr than the oyrpary
d the th•￿14b18 crry•y'8 member6 aB a t4Jdy, for tyjr au(Nt wuk, lor IIw8 r¥K*1, 1)r fw the OFrfrkn• w• hav•
rcc4
Cr•lq•n (S•nlorSt•lutory Audltorl
lor on bth•W ol H•￿1n•0￿ Mulholland
Ch•rt•rnd AccouTrt*nts
sta￿tory Audltor
eth Flocx E44t fo*
L￿ny￿ Plaza
Besfa
8T13LP
wbinwn ib •19*4• fof wllor dlh• dwwity by ¥ltlu• of h •ll9￿￿ty
D•t8. 12NJY2025
18

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND
MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND
STATEMENT OF FINANCIAL ACTMTIES
FOR THE YEAR ENDED 31 DECEAIBER 2024
Total
fund•
2024
fvnd•
2023
lunds
2023
2024
2024
2023
Not••
Incom• •nd •ndowm•nts Ivom..
Donations and legao•$
13,265
13.285
12.221
2.920
12,221
2,920
Tot•1 In¢om•
18,408
16.408
16.101
18.101
Exp•ndltur• on:
Rais￿9 funds
Ch8rftable adivihs
e.x17
8.307
3.1
51.99]
3.198
S1,975
25
To¢al •xpfrndltur•
59,771
25
55.146
25
55,171
No198ins on
inve$tm8nts
13
142,￿)
142.J)5
97.427
97,432
N•¢ mo¥•m•nt I
lund•
98,937
120)
98.917
58,382
R•conclll•lOoTr olfvnd•:
Fund bala￿$ al 1 Janu¥
2024
1.192.071
1,671
1.193.742
1,133.6eg
1,135,380
Fund ￿lIA¢¢4 at 31
D•c8mber 2024
1291,C•J8
1.651 1.292.659
1.192.071
1.871
1,193,742
The 6tatem8nt of1kno￿￿ a¢*￿￿•# *190iM •wJ kw•s in yew.
derivo Irom comlnulng 8¢twiW.
19

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND
MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND
STATEMENT OF FINANCIAL POSITION
AS A T 31 DECEAIBER 2024
2024
2023
Flx•d ••••l¥
Investments
14
1273.782
1.146.41KI
Curnt a•￿ts
15
25
22.457
Cash at b￿k ￿ In haThJ
50,521
Cr•dltorn: amounts hlllng du• wlthl
on• y•ar
{3.21T)
18.877
47.342
Totsl a•¥•ts Irt• ¢wr•fit Il•blMI••
I,￿.659
1,193,742
Th• lund• ofth• ¢h•rfty
Endtr*m8nt luTh
UnrestrKled fvnd•
17
1.851
1291.1
1,871
1,192.071
1292,659
1.193.742
Is •rflknJ to th• •XWTyIth from Ih ly￿￿ned in Mdl)n 477 of ￿ Comp•nlei Acl
2Cth, forlh• 31 Othxbw2024.
The directors Kknowkdg$ ththr r•8p)nst¥ltitis fDr complying ￿1h th• f•wfements of ts Crynpan￿ 21
wlth respect lo ace&iunbng 18eord8 4nd the pr8parnlh)n ol financial 8lat*M8nts.
Th¢ rn•rnbw• h•¥e rv)t requir•J th• c(rfwny lo otlakn an a￿Irt of rf8 financial ststo1r￿1$ und•r th• requ*•ment8
oftho CompwMosA(X 2c￿. lor fv y￿r in in w*h 476.
lo thè srnall companles regime.
Rav S P M¢)ty• BD PGCE
Dlrnctor
MrHMOrrKC
20

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 2024
2024
2023
Ca•h Ik¥w• Irorn operntk• a¢lt¥lll•#
21
142,98n
138,9871
In￿1￿￿0 •CtIt
PurthAso of inve$lmgnl8
Invè8tm•rrt ineorne receI￿d
r27.97S
42.898
I37,￿)
38,961
•ctMII••
14.923
19471
N•t ¢a•h g•n•rnt•d Irm fin•nclng xUvltt••
Ngt dKf•a•• In c••h and ￿•h •qufv*l•nl•
139,9141
.$21
90,436
Ca•h And ¢••h •qulv•l•nl• •t •nd ol y••r
22.457
50.521
21

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND
MISSIONARIES OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng polkl••
Ch•rfty inform•
The Soc*ty the and chi￿0n of Ministers and MisSI(M￿￿ of thè Pr&sbyl•rian Church in Irdand
is a pnvale cwpany th"mlt•d by guwant•• iTh))rForalod in Norlhwn Iroland. The registered offTh 1$ Gl•ngall
Exchange. 3 Gkngan Stroet. Bella￿. Co. Antrnn. BT12 SAB.
1.1 Accountlng conv•ntbo
Thfr finanerdl statèm8Ms ha￿ bo•n prep8r8d in accAydanc* wrth the mernorandum & wb"cJgs. th•
Cefflp8nie5 Act 2Cth and 'AccountirYJ Réportlng by ClkgrAio8' Ststernent of R•eommonded PraciKe
apr4￿bI* to tharilt•5 pr•panng thoir &c¢Aw)ts in aco)rdance with th? Finanual Réporting S18ndard
applubl• in the UK aTrJ R•publ* Of If•larkl IFRS 1021" las arnended for accounting p8rlods commendng
from l J￿U•ry 20161. chanty l• • Pubk Ertity •$ d•f#N•d ty FRS 102.
Th• fina￿al stat•m•nl8 ar• Pf•pared In steding. l• the ol th• dwlty. %lon•t•ry
arnwrts In Ihem ffln•rthl slat•m•nts •r• rwnded to the neorest £.
The fina￿991 ¥tolwnants have prww8d urthr lh• histoncal t￿1 convenlw, modlfièd to Indude tho
r*valuatic￿ offreehold wvj to irKk*Je wop8rt*A and certw fi￿nd￿l instruments al falr
V8lu•. Thè p￿1￿1￿1 ar￿nti￿a •dcwd w• Ml b8kyAt
1.2 Goln9 ¢onc•m
Th• th'rèdorl hjva asw•wd th•t The &L¥ety for lh• Iwians and Chlharen of Minllleri and Mis$K*narlM ol
tm Pr•ibyt•rian IreL•NI has adtqL*t• r•swc•8 10 meet the on90iTrJ costs of the enlty for tho
minlmum 01 12 mcrfths trryn lh• d•1• rl lh• financlal 1lalem￿ts. For thii rtr8￿. the fiThanryal
Ilat•ments h8vg b¢•n prtyared on • (*fK•m basis swmes thè r•al￿a￿On ol assets and
Slabllllk8s In th• nomMI ctyJra8 ol
13 Ch•rll•bl• lund•
Unr•sI￿18d *• Ic< at th• dlKntkffl of the Trus*# in furth8ranc• of thelr c*b•rltoN•
Reslr*t•d lunda #r• subi•rt lo o)r#kn ty or to Ih•y may be uwj. Th•
purposes and u8•s olthe r•strlct•d (mds are sol Lmrt tn the notsl to the f￿#￿￿81 sl•twn•nl8
ErKSxmort 8Uty(a *) •poth c¥>r#Jrfth$ by th•1 the capftal rn￿1 b• maintained by
1.4 Incom•
Incomè is recognl8¢d whèn thè tharlty is logaty •fttitl8d to tt after any pprforrnanc• c£K•Jlkns ho￿ bo•n rnot.
th* amounts can be measured reliobly. and rt is yrt)at4• that iro)me wdl bg rec•*d.
Lega&g9 •r8 re￿gnised on rec4ipt or otherwise if the dwnty has been rKllfied of an impenthng distribut￿.
Il* amouni is kn￿n. and recetpt is •XF*ei•d. If the amount is not kn(wn. th• legary is treated a$ a
22

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND
MISSIONARIES OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
A¢¢ountlng poll¢h•
IC0Dtlnu•dl
Eypenditur• fv rwn*ed Ihtrt is a legal or 0￿$1￿cti￿ 0￿.gati(￿ io transhr •coTh)mic benefit lo
thwd party, rt Is probatAe thal a tr￿SIer be￿ wlll ￿ rwred in selttthmert and the amount of
the oblwion can be rnea￿ed rel￿bty.
ExpenditLK• li da8$rf￿ ty Xb¥ffjf. CAxts ol ••dJ ￿ w• m* w ol th• tolal of dir¢ca coth and
Shared ¢oils. Induding supm costs irmknd in urthrtak4ig actiwty Dlrnct c*Mls attril)utabl• Io B 5tylt
8ctiwty are allocated dir¢dty to that ¥ltwty. Shared CDilS whth contribute to more tt5an on8 &tivity and
Jpport eoiii whKh am *ttritrrtrtab￿ to a acmy are b•hw••n IIK>io adivS11•8 on a b881$
c￿￿$ten1 wlth the ol res(¥Jrces. Cwtral slaff o)sts are alktat•d th) the baw"$ ol t1￿ spgnt, and
deprKla1￿￿ tharges 4r0 •1k￿led ofts as88¥s u*.
1.0 Flx•d ••*•t Inv•¥lm•nl*
FiK•d as881 investments ar• m￿￿r￿j at tTan8athon prk• exdudkng tr•n¥etlon e4it8, and w•
subsequonlty mèasured at l*r ￿u• * oath r•rx*trg d&te ChaThg¢s in falr value are r8o)gniied In
Incom￿(8xp•firt￿Uffr1 for th• y•ai. coth we ew••d ￿ incurr•J.
1.7 Ca•h Ind ¢4•h •qul¥•l•nl•
Cash and cash equryat•nis irK*Ad• e48h hrt deF￿1¥ h•ld at b•nkn. olh8r ah￿1.18￿1
InveStrn￿lI wmh origin•l m•tuntses ol fv•e or bank ov•r(kah. Bank ov•rth•fft• #r• 8hMI
wrflw'n bwNw¥Js in ￿rren1 li•bths
1.8 Fln•n¢l•l Srt•trurn•nl•
The chanly has elected to •ppty Ibe of secti￿ 11 '8•th In•trwDwts' *￿• S•ction 12
'thhr FlnAnd4I In$trum•nts Imuos. ol FRS 102 to all of Ns fina￿￿1 Instru1￿.
FinwKJ81 lA￿Um￿lS ai• r•ccgntsed ohéel th• Qlarty becrn p•rty to th•
there ty • le9ally enf￿￿•bk* ryht lo set ¢iff rewiwsed aThJ i• lo Mllle ¢)n 8 n•t
ba*s or Io TeBlise the 8nd 3eltle Ihe liabllty simultaneou8ty.
8•sk fiN￿l•l•m•ts
Ba$1¢ finanoal assets. I)d￿Je d•blCrfS Lxh bank balanc*8. w• inilsalty rn908ured 8t
da$s￿d al r•c•ivat4e wihin one yeat w• nol amrbsed.
8asic finano81 liabilibes. ir•***r#J UEd"rtcrfs bank ￿)•1$ ar* reo)]ni8ed ai tra)sactton pflee Un￿8$
the aTh8llgemenl constrtulès a finarLw **wre the debt instru￿1 B measufed at the presenl
value ol th• lulure payments discounied al 8 markel ral• ol Wrte￿$t. FinaTr2al IkqtrAllliès clasw"fhryd as payatA
wrthin ono year ar• nol aftk)rtisod.
Trade cretht(¥s ar• obhgalths to pay for SeThi￿ that ha¥e b88n wir8d in the ordinary coursè of
operations from $uppl*rs. Amwnts payable are dassrw as ujrrerrt Irdbd¢tsS rf payn￿rt is due withwi one
y•ar or les5. If not. Ihey *e weseni¢d as ￿4>J￿￿t kab"fvl*s. Trnde recognised inw at
Iran￿(￿On price and subwuently measured at amOrfts￿ cost Ihe eff•eiNe yrtwesl nWh(#J.
23

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND
MISSIONARIES OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR EAIDED 31 DECEAIBER 2024
Ae¢ountlny pollcb••
Financ4al h"abilrtm ar• derec£43n￿ lh• d•.8 c4)ntr￿￿ expim ty •r• ¢YsL*arged or
C8n¢611éd.
Crflk•l •¢counllng ••lknit•* *nd ludo•m••ts
In th• ¥prA￿atr￿ of fv rtsty's the Tw*•S ar• rnquwed to m•ke judg•m8nls,
•8llfftates and a8￿Mpl*￿ 8t￿Jt cwwng ol ass•t$ and I"•b4m1￿ thal ￿ nol leadity •pp8f•nt
from olher styjrcos. The ¢51irnates afvj assc¢Jated aswmpiK)ns are bas￿ INSt￿31 •yrioThx and other
lac1￿5 thot are onwd•r•d ¢0 b8 Id•v*nl. Aclud fèsuMJ moy thff•r from Ihelo e$¢m&ies.
Th• •sth"mate5 ￿ urthrtying ar• roy￿￿•d on an (ry0in9 basis. R￿?￿8 lo accounllivJ
•8timat•s 84è f•ts¥nl*J ￿ Ihe p•rth m whth lh• •￿te i8 rewmd where Ihe r•vtJion 8ffeds tsTrly Ih
Don•tlon• •nd1•g•cI••
2024
2023
Frands Curtey Charft&Jl• Funil
13.28S
12.221
Ch•rtl*l>l• ael¥lO••
2024
2023
2,215
125
2,482
438
Porsonal $ub5cnpl
Unr••trbd•d UnmtrlclHI
lund•
fvNI•
2024
2023
other in(>Jm8
24

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 2024
R•hln9 fund¥
2024
2023
Inv•stm￿t managgm•nt co
3,106
8.307
3.19e
Ch*rlt•bl• a¢tlvltl••
X123
Orphan gran18
Eduealion grants
EX￿pI￿nal granlj
23.45S
18,fX)1
21,1Ckg
17.952
1.750
8.704
901
9,412
585
51.953
$0,41S
Sh•r• oftr)v•m•n¢4 la¢0 not• IOI
53,489
51,975
An•ty•l• ty fund
Unrestdcted fvndJ
End￿*Men1 lurhJ•- g•ner41
51.
25
53,489
51.975
N•t m￿On*￿t In lund•
2024
2023
The net movement kn funds os st8t•d after ¢hargWltThlllngl'.
F••8 paya1￿1 fL¥ ￿ ¥udit 3tatwn¢nts
25

THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND
MISSIONARIES OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR ThIE YEAR ENDED 31 DECEMBER 2024
TN•t••
None ol Ihe Trust••s lor any ￿)￿r￿ted them) reCeI￿d ary b￿lfft$ from th•
dwrty dumg the y•ar.
2024
2023
1.538
Charita￿0 actmtws
11 Employm•
S¢<iety for ¥¥hith a d￿￿4* is ffl•￿.
12 T*x•tlon
TM tharity Is •x•mo IMM tt¥aib)n Ns •FWI￿j for c*aflt4ble purp08ei.
13 N•t gaIn￿lI0••￿> Inv••tr
Tt)tsl
Tolal
lunth
lund•
2024
2024
2024
2023
142.xlj
142,305
97,432
For lh• y•ar •Dd•d 31 D•c•mb•r
2023
97,427
97,432
26

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 2024
14 Flxod a￿*t Inv•¥trMnts
ItwMtm•nt•
Co•t or v•lu•Oon
Al 1 Janu8ry 2024
Addith)ns
Unrealiged gal
1.146,4C
27.975
99.407
Al 31 D•r•th 2024
1,273,782
Cthrrylno *mount
At 31 ￿￿ernber 2024
1273.782
Al 31 D¢c•mb•r 2023
1,146.400
Li$t¢d invgstmenls are 8tsted •t mw*el vakhi. to d•y rnanty￿ ofth& Inb•¥Jwhl Portk4io b c•rTl•d
out by rsgljtered investment mww. Sawwi & P•thWS LLP.
2024
2023
Amounts hlllng du• T*lthln ¥)h• >W.
Trad8 d•btorn
25
11 CTrthlorn: tsmlng du• t*lllth y••r
2023
3,217
17 Endowm•nt fund•
ETrdNrnent fvnds re￿sent assets whith rnu¥l b¢ ￿ld ￿rM￿lty ty tharity. lTr￿￿e arising on the
end￿￿nI lunds can t• umd in accordanc• wih the objects of th• t*arlty and 18 Ind￿jed as
c￿￿. Any gwns or bsses Wismg the os5ets forTn olthe lund.
At 1 Janu•ry G•ln• and
2024 •xpwthd
At31
D•c•mbor
2024
1.671
(25)
1,651
27

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 DECEAIBER 2024
17 EndtrThrt fvnd•
IContinu•dl
Prnvlpw y•ar.
Al 1 Janu•ry R￿QU￿1 G•ln• •nd
2023
•xp•nd•d
A131
0•¢9ml￿r
2023
5)
1,671
11 Unmtii¢t•d fvnd•
The unr¥strkled furyls ol Ihe charrty C4)mprise thè unexFWKbid balwK¢8 #nd qrants whith •r•
nol 8ublect to SP8uk coThlitlon8 by rhMrs and grantrrfs u to moy ty• us•d. Tlw in(*Jdo
do¥lgnalod h¥w4 bwn *t oul of ￿r•stric1•d funds by the trust•g1 ft>r 5￿fic purp*xès.
Al 1 J•nu•ry R••ouf¢M G•lD• •nd
At31
2024
G•rér41 hmd•
1.192,071
16,408
159.7711
142.3(Kl
1,291.C
Pr•vlou• y•ar.
Al 1 J•nu•ry Incomknw R••our¢M G•ln• and
2023
At31
D•c•mb•r
2023
G•n•r81 lund•
1.133M9
18.101
{55.1461
97.427
1.192.071
19 An*tyil• of n•t•••ets l>•tw••n lund•
fvnd•
2024
fund•
2024
2024
At 31 D•¢emb•r 2024:
Inv•slm*nt5
1.272.131
18.877
1,851
1.273.782
18,877
1.291.CK)8
1.651
1,292,659
28

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 2024
19 An*ty•l• ol n•t ••••t• l)•lw••n lun
IContinu•dl
fund•
2023
2023
2023
At 31 O•¢•mb•r 1023..
In￿￿¢Men18
1.144,729
47.342
1.871
1.148.4CIJ
47.342
1.192.071
1,671
1,193.742
20 R•l•t•d p*rty tr*n•a¢tlon•
Thw•were Th) dlK*Mat4• I•￿ted pwty trIn￿C￿l durtng tho yw12023. non•).
21 C￿h •b•¢knd by ¢)p•r•llon•
20Z4
2023
Surp￿* fry th• y••r
98.917
Fair value g*n$ aTh1 k)ues on Irfywl
(142,3051
197,4321
lov•m•nt¥ In worklng ￿p11¥1.
DecroaseJlirKreasel In debtors
13
113)
142.98n
{38.9671
29

## MANAGEMENT INFORMATION 

for the year ended 31 December 2024 

The following information does not form part of the statutory financial statements which are the subject of the independent auditors report on pages 15 to 18. 

30 



THE SOCIETY FOR THE ORPHANS AND CHILDREN OF MINISTERS AND MISSIONARIES OF THE PRESBYTERIAN CHURCH IN IRELAND 

## DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 


**----- Start of picture text -----**<br>
£ £<br>2024 2023<br>Incoming Resources<br>Investment Income<br>Dividends and Interest - -<br>Bank Interest 803 960<br>Other Income<br>Francis Curley Charitable Fund 13,265 12,221<br>Subscriptions<br>Congregational 2,215 2,482<br>Personal 125 438<br>Total Operating Income 16,408 16,101<br>Resources Expended<br>Grants To Children<br>Orphan Grants 23,455 21,108<br>Education Grants 18,001 17,952<br>Exceptional Grants 500 1,750<br>Management, Administration and Governance Costs<br>Management Services 9,412 8,704<br>Investment Management Costs 6,307 3,196<br>Printing and Stationery 210 378<br>Audit Fee 1,536 1,560<br>General Expenses 375 523<br>Total Resources Expended 59,796 55,171<br>Net Incoming/(Outgoing) Resources (43,388) (39,070)<br>Net gains/(losses) on investments 142,305 97,432<br>Net Income/(Expenditure) for the Financial Year 98,917 58,362<br>**----- End of picture text -----**<br>


31 



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