OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-12-31-accounts

ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 December 2025

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 3-6
Information 7-8
Financial Statements 9-30

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 like to express our heartfelt thanks to all the congregations and individuals who have faithfully supported the work of the Society over the past year.

Your generosity has enabled us to provide help in times of genuine need and to make a meaningful difference in the lives of the children and young people of our Ministers and Missionaries.

We warmly commend the work of the Society to you and would greatly value 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., BD., 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 5, Assembly Buildings, Belfast on Tuesday 10[th] March 2026 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 KC , President of the Society, highlighted the continued importance and of the Society’s work by reflecting on his own personal experience as a beneficiary of the Society following the untimely death of his father. He continued:

It is my great pleasure to welcome you all to the 153rd 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:

In one of the episodes of “The Simpsons”, Rev Lovejoy explains to Homer’s wife Marge how, having been worn down over time by Ned Flanders bringing a never-ending list of ethical and moral dilemmas to his attention in order that wise counsel might be offered, he got to the stage where he finally “just stopped caring”!

In light of the burdens imposed upon us in our daily lives - some by ourselves and some by others - it is easy for any of us to experience compassion fatigue. Never mind the trials and suffering of people of every generation around the world that are relayed regularly to us through the mainstream and social media.

That is why we need to continuously meditate on the life and example of the Lord Jesus Christ in order to be renewed in vision and refreshed in spirit so that we may be enabled to demonstrate compassion in the way that He would.

Matthew records the following words of Jesus in his gospel account:

37 ‘Jerusalem, Jerusalem, you who kill the prophets and stone those sent to you, how often I have longed to gather your children together, as a hen gathers her chicks under her wings, and you were not willing.[38 ] Look, your house is left to you desolate.[39 ] For I tell you, you will not see me again until you say, “Blessed is he who comes in the name of the Lord.”’ (Matthew 23)

He longs to gather His children as a mother hen gathers her chicks under her wings, offering them shelter and protection. How much more must the heart of Jesus ache for children and families who suffer through no fault of their own - enduring trials, hardships, and sorrows for which they bear no responsibility. His compassion reaches deeply into their pain, and His desire is to draw them close, comforting and sustaining them in the midst of their struggles.

Let us continue to ensure that we do not follow in the footsteps of Rev Lovejoy and just stop caring. Rather let us pray for and seek to protect and support those who are vulnerable as Jesus would do by gathering them under His wings.

3

Let us take encouragement from the words of Paul in 2 Corinthians 1:3-5:

3 Praise be to the God and Father of our Lord Jesus Christ, the Father of compassion and the God of all comfort,[4] who comforts us in all our troubles, so that we can comfort those in any trouble with the comfort we ourselves receive from God.[5 ] For just as we share abundantly in the sufferings of Christ, so also our comfort abounds through Christ.

For over 150 years, the work of the Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland has aimed to demonstrate the compassion of Christ and to offer comfort in practical ways to families in need.

During the course of 2025, the Society supported nine orphans in five families. A total of £23,394 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 2025, a total of £20,001 was given in education grants to fourteen ministerial families and three missionary families. A further £1,000 was also disbursed to alleviate short-term (emergency) needs by way of exceptional grants.

The Society’s income during 2025 amounted to £62,624. This was made up as follows: Dividends and Bank Interest £45,562; the Francis Curley Charitable Trust £13,701; and subscriptions from individuals and congregations totalling £3,361. A total of £44,395 was paid out in grants (across all categories), expenses were £12,696 and investment management fees were £6,604. There was a budgeted deficit of £1,071 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 2025 was £1,320,725.

The articles of our association require that one third of the Directors retire each year by rotation. This year Rev G Farquhar, Miss H Johnston and Rev L Keys are required to retire but are eligible for re-election. We are delighted that Rev G Farquhar is willing to continue serving on the Board. Rev L Keys indicated in October 2025 that she was resigning from the Board and Miss H Johnston is also intending to resign from the Board due to her forthcoming retirement from her role within the Council for Global Mission. We are deeply grateful to Linda and especially Helen (who has served faithfully since 2004) for their input into the work of the Society.

It was a pleasure to welcome two new Directors onto the Board: Mr Lowry Grant and Mrs Avril Heenan. We look forward to the contributions that they will make in the coming years towards ensuring the ongoing good governance of the Society.

The Directors once again acknowledge their indebtedness to their counterparts in the Presbyterian Children’s Society for their willingness to facilitate the sharing of office and staff resources to our mutual benefit.

We very much appreciate the wholehearted dedication of our Executive Secretary, Mr Jason Nicholson, to the work of the Society and the invaluable assistance provided by Mrs Amy Boyd and Mrs Angela Magill.

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

I wish to express my gratitude to my fellow members of the Board of Directors for their commitment and support in advancing the work of the Society throughout the year. In particular, I would like to recognise the dedication of the Honorary Secretary, Rev Stephen Moore, who carries a significant workload on behalf of the Society while also undertaking other duties on

4

behalf of the Church. Finally, I extend our heartfelt thanks to the entire staff team for their diligence, professionalism, and hard work over the course of the year.

I am also delighted to welcome the Moderator Designate of the General Assembly, Rev R. C. Kerr, M.Sc., M.Div. , to our meeting.

Rev Kerr , in seconding the First Resolution, said:

Mr Chairman, in seconding this resolution, I would like to make a few remarks.

It is my pleasure to be with you this afternoon, and I want to take this opportunity to convey my appreciation to the Society for the work done over this past year, and the many years of its existence. I want to acknowledge God’s hand in that and extend my gratitude to all those who serve so faithfully as directors, and in executive roles.

This is a personal vote of gratitude, because our family were beneficiaries of this fund through our years in Malawi in the 1990s, and especially during the years of our children’s schooling. Thay by necessity was home-schooling, and the support of the Society for educational resources at that time was invaluable.

I believe it is a testament to the Society’s support that all three of our children were able to adjust with relative ease to mainstream education when we returned to Belfast. The financial support we received was invaluable and greatly appreciated. I cannot overstate the difference it made to our family during that period.

The records of the Society will highlight how much financial assistance we received through those years. What is more difficult to quantify, but equally important, was the message those grants conveyed to us at that time. It indicated that people cared, that while we were far from home, we were not forgotten. It sent a message that we were part of something bigger, the family of the Presbyterian Church in Ireland.

Chairman, it is with gratitude that I gladly second this resolution.

Following this, the Chairman, Mr Mark Orr, K.C., invited Miss Helen Johnston , Director, to propose the Second Resolution.

In proposing the Second Resolution, Miss Helen Johnston said:

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

Thank you for the opportunity to speak to this resolution. I have had the privilege of serving on the Board of the Society for the last 22 years, when I was introduced the work of this Society by Rev Dr Jim Campbell. As a missionary without children, I was unaware of the Society and how much it did to support the children of PCI missionaries. That changed in 2004 when I was invited to and then became a Board member. I do remember my first meeting which was in a narrow room with large mahogany cupboards and a huge ornate table located on the third floor of what we referred to then as ‘Church House’.

During the 22 years, the regular meetings I attended have taken place in three different meeting locations. I have worked with two very able Executive Secretaries, two Honorary Secretaries, a number of staff and Board members from different parts of PCI and beyond who had a variety of professions and experiences. It has been a rich and positive experience for which I am very thankful.

5

So, I bring my personal thanks, but I also bring thanks from a group of the important people this Society serves – that is the children of PCI’s missionaries, now known as Global Mission Workers. During these years this Society has supported, via education grants, a total of 57 children from 22 different families: 15 of them for their education from their first day at school until the end of their secondary education when they transitioned to university or the beginning of their working life.

Financial support was sent to encourage their education, which was delivered in a number of ways ranging from home schooling to boarding; from learning in a mainly English medium to the language medium of a particular country; and for some, a part of their schooling was a hybrid of home schooling with classes and learning happening in a local school, which in one situation was a day’s travel away.

These mission workers were located in 8 different countries – 4 in Europe, 2 in Africa and 2 in Asia. For each situation the education grants were used to support and supplement what was available to the global mission worker family and their children as they sought to provide the best education they could for their period of service in their particular location.

On behalf of them all I say a huge thank you.

Finally, I have great pleasure in proposing the Second Resolution:

“That the Directors, retiring by rotation be reappointed with the addition of Mr Lowry Grant, FCCA, FCIS, BEM, and Mrs Avrill Heenan, LL.B, M.Th., and that HM Chartered Accountants be appointed Heenan, LL.B, M.Th., and that HM Chartered Accountants be appointed auditors for the ensuing year.”

The Chairman, Mr Mark Orr KC , then invited Rev. W. J. A. Moody , B.Eng. (Brookside, Ahoghill), to second the Second Resolution.

In seconding the resolution, Rev Moody highlighted the responsibility of the wider Church to continue to pray for and support the Society in all its endeavours.

Both resolutions were put to the meeting and adopted.

The meeting closed with the Benediction.

6

INFORMATION

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

  2. The Objects for which the Society is established are:

  3. (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.

  4. (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.

  5. 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.

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

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

  8. 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

  9. 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.

7

CONGREGATIONAL SUBSCRIPTIONS

Ahoghill, Brookside
Antrim High Street
Aughnacloy
Ballinderry
Burt
Cavan
Drumlough
Coleraine, Terrace Row
Largy
Myroe
Moneymore, First
Moneymore, Second
Newry, Downshire Road		 200.00
300.00
175.00
200.00
150.00
85.43
100.00
600.00
600.00
250.00
228.00
172.00
300.00
£3,360.43

GIFT AID

The Society received an additional £0.28 in Gift Aid (Interest) relating to the 2024 year.

8

ANNUAL REPORT AND FINANCIAL STATEMENTS

For the year ended 31 December 2025

9

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 2025










Pages

Society directory






 10

11


Trustees’ report






 11
12

Statement of Trustees’ responsibilities



 14
15

Independent auditors’ report




 15
16

Statement of financial activities




 17
20

Statement of financial position




 18
21

Statement of Cash Flows





 19
22

Notes to the financial statements




 20
23

Detailed statement of financial activities




 29
32

10

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

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Rev G A J Farquhar DipTh BA MTh Mr M Hampton PIIA Miss H Johnston BSc CIPD MA Rev S P Moore BSc BD PGCE Mr H M Orr KC Rev L M Keys BTh DipMin (Resigned 07/10/25) Rev Dr G W Clinton BSc (RCSI) MSc DipStat PhD DipMin MDiv Rev S J Castles BSc BD Rev L W Webster Rev B J McCroskery BSc BD MPhil Mrs A S Heenan LLB MTh (appointed 07/10/2025) Mr JL Grant FCCA FCIS BEM (appointed 01/10/2025) Mrs P McCullagh BSc MSc Mrs A Stewart MEd CertEd DASE LTCL

Honorary Secretary and Treasurer Rev S P Moore BSc BD PGCE Secretary and Treasurer Mr J G Nicholson BA (Hons) Charity number NIC101833 Company number R0000680 Registered office Glengall Exchange 3 Glengall Street Belfast BT12 5AB Auditor HM Chartered Accountants 6th Floor East Tower Lanyon Plaza 8 Lanyon Place Belfast BT1 3LP Bankers Danske Bank Donegall Square West Belfast BT1 6JS Solicitors Carson McDowell LLP Murray House Murray Street Belfast BT1 6DN

11

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 2025

The Trustees (who are also directors) present their report and the audited financial statements for the year ended 31 December 2025.

The financial statements comply with the Charities Act (Northern Ireland) 2008, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The charity is governed according to the company’s memorandum and articles.

Results

The net incoming movement in funds for the year amounted to £28,066 (2024: £98,917).

Total income showed a 281.67% increase on the previous year (2024: £16,408). This was as a result of the charity resuming the draw down of income from investments. Investment management expenses increased by 4.71% (2024: £6,307), management and governance expenses increased by 10.08% (2024: £11,533) and charitable expenditure increased by 6.91% (2024: £51,953).

The following number of grants were issued:

The following number of grants were issued:
2025 2024
No. No.
Orphan Grants 5 4
Education Grants 17 21

Principal activities, review of the business & future developments

The principal activities of the Society are firstly; to aid by grants from the funds of the Society, orphans and children of Ministers, Missionaries and Deaconesses of the Presbyterian Church In Ireland, and secondly; to assist Ministers, Missionaries and Deaconesses of the Presbyterian Church In Ireland in necessitous circumstances in the education of their children.

The directors are encouraged by the level of subscriptions for the year and would hope that congregations will continue to prayerfully consider the needs of this work of the Church. During the year the objectives of the charity were to make orphan grant payments and education grants to children of Ministers, Missionaries and Deaconesses.

The Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland is registered as a charity with the Charities Commission for Northern Ireland with registration number NIC101833.

Objectives

The 2025 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 to children

-To continue to provide education grants

These will be dependent upon the applications received and will be paid in line with the criteria as stipulated by the Society.

A budget income and expenditure account including the above objectives is prepared at the start of each financial year and the 2025 objectives were met.

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 2025

Organisation

A board of directors of 13 members has overall responsibility for the charity. Meeting bi-annually, the board possess the authority to administer the charity and manage its day to day operations. However, daily management of the charity has been delegated to the Secretary/Treasurer who is directly responsible and accountable to the board.

Grant making policy

The charity invites applications for the funding of grants to individuals. These applications are then reviewed against specific criteria and objectives which are set by the directors, in accordance with the objectives of the charity.

Investment policy

The charity’s fund managers are Sarasin & Partners LLP who are to pursue a policy of maximising income whilst maintaining some capital growth. This policy is performed in accordance with the Society’s ethical guidelines which prohibit investment in companies with significant interests in alcohol, tobacco, gambling, arms manufacturing and exploitative child labour.

Reserves policy

It is the policy of the charity to maintain unrestricted funds, which are free of reserves of the charity, at a level which equates to approximately one year’s unrestricted expenditure. This provides sufficient funds to cover management and administration costs and respond to emergency applications for grants which arise from time to time.

Risk management

The directors have examined and assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Society and are satisfied that adequate systems are in place so that the necessary steps can be taken to lessen those risks.

Grants to children

During the year the Society has made contributions of £44,395 (2024: £41,956) to individuals in need.

Going concern

The directors believe that there are no material uncertainties that cast significant doubt about the charity’s ability to continue as a going concern and the financial statements have been prepared on this basis.

Directors

The directors who served the Society during the year are listed as part of our Legal and Administrative information. The directors are appointed in accordance with the company’s memorandum and articles.

13

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 2025

Strategic report

The directors have not prepared a strategic report as the company is entitled to the special provisions applicable to companies subject to the small companies regime within part 15 of the Companies Act 2006.

Disclosure of information to the auditors

So far as each person who is a director at the date of approving this report is aware, there is no relevant audit information, being information 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 the steps that he/she is obliged to take as a director in order to make himself/herself aware of any relevant audit information and to establish that the auditor is aware of that information.

Auditors

A resolution to reappoint Harbinson Mulholland as auditors will be put to the members at the Annual General Meeting.

Small company exemptions

This report has been prepared in accordance with the special provisions applicable to companies subject to the small companies regime within part 15 of the Companies Act 2006.

By order of the Board

14

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 2025

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 statements in accordance with applicable law and regulation.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have prepared the financial statements 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 must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charitable 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 statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and Charities Act (Northern Ireland) 2008. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In certain circumstances clients may choose to include an additional statement here which is required to be made within the directors’ report as a result of Section 418 of the Companies Act 2006.

In accordance with Section 418, directors’ reports shall include a statement, in the case of each director in office at the date the directors’ report is approved, that:

(a) so far as the trustee is aware, there is no relevant audit information of which the company’s auditors are unaware; and

(b) he has taken all the steps that he ought to have taken as a trustee in order to make himself aware of any relevant audit information and to establish that the company’s auditors are aware of that information.

15

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

Opinion

We have audited the financial statements of The Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland (the ‘charity’) for the year ended 31 December 2025 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The other information comprises the information included in the Trustees’ Report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

16

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

17

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 further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing 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.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

18

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

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 that we might state to the parent charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted 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 opinions we have formed.

Angela Craigan (Senior Statutory Auditor) for and on behalf of HM Chartered Accountants Chartered Accountants

Statutory Auditor

6th Floor East Tower Lanyon Plaza Belfast BT1 3LP

.........................

HM Chartered Accountants is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.

19

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 2025

Unrestricted Endowment
funds
funds
2025
2025
Notes
£
£
Income and endowments from:
Donations and legacies
3
13,701
-
Charitable activities
4
3,361
-
Other income
5
45,562
-
Total income
62,624
-
Expenditure on:
Raising funds
6
6,604
-
Charitable activities
7
57,066
25
Total expenditure
63,670
25
Net gains on
investments
13
29,132
5
Net movement in
funds
8
28,086
(20)
Reconciliation of funds:
Fund balances at 1 January
2025
1,291,008
1,651
Fund balances at 31
December 2025
1,319,094
1,631		 Total
Unrestricted Endowment
funds
funds
2025
2024
2024
£
£
£
13,701
13,265
-
3,361
2,340
-
45,562
803
-
62,624
16,408
-
6,604
6,307
-
57,091
53,464
25
63,695
59,771
25
29,137
142,300
5
28,066
98,937
(20)
1,292,659
1,192,071
1,671
1,320,725
1,291,008
1,651		 Total
2024
£
13,265
2,340
803
16,408
6,307
53,489
59,796
142,305
98,917
1,193,742
1,292,659

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

20

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

STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025

Notes
Fixed assets
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
The funds of the charity
Endowment funds
17
Unrestricted funds
18		 2025
£
£
1,301,138
500
22,727
23,227
(3,640)
19,587
1,320,725
1,631
1,319,094
1,320,725		 2024
£
£
1,273,782
25
22,457
22,482
(3,605)
18,877
1,292,659
1,651
1,291,008
1,292,659		 2024
£
£
1,273,782
25
22,457
22,482
(3,605)
18,877
1,292,659
1,651
1,291,008
1,292,659
1,292,659
1,651
1,291,008
1,292,659

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on ......................... .............................. .............................. Rev S P Moore BSc BD PGCE Mr H M Orr KC Director Director

Company registration number R0000680 (Northern Ireland)

21

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 2025

Notes
Cash flows from operating activities
Cash absorbed by operations
21
Investing activities
Purchase of investments
Proceeds from disposal of investments
Investment income received
Net cash generated from investing activities
Net cash generated from financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(4,458)
10,498
(4,259)		 2024
£
£
£
(1,511)
(42,987)
(27,975)
-
42,898
1,781
14,923
-
-
270
(28,064)
22,457
50,521
22,727
22,457		 2024
£
£
£
(1,511)
(42,987)
(27,975)
-
42,898
1,781
14,923
-
-
270
(28,064)
22,457
50,521
22,727
22,457
22,457

22

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 2025

1 Accounting policies

Charity information

The Society for the Orphans and Children of Ministers and Missionaries of 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, Belfast, Co. Antrim, BT12 5AB.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's memorandum & articles, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

The directors have assessed that The Society for the Orphans and Children of Ministers and Missionaries of the Presbyterian Church in Ireland has adequate resources to meet the ongoing costs of the entity for the minimum of 12 months from the date of signing the financial statements. For this reason, the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time 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 a contingent asset.

23

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 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 2025

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

2025 2024
£ £
Francis Curley Charitable Fund 13,701 13,265

4 Charitable activities

Congregational subscriptions
Personal subscriptions		 2025
£
3,361
-
3,361		 2024
£
2,215
125
2,340

5 Other income

Other income
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Other income 45,562 803

25

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 2025

6 Raising funds

Investment management costs
Charitable activities
Orphan grants
Education grants
Exceptional grants
Management services
General expenses
Share of governance costs (see note 10)
Analysis by fund
Unrestricted funds
Endowment funds - general		 2025
£
6,604
6,604
2025
£
23,394
20,001
1,000
9,660
1,488
55,543
1,548
57,091
57,066
25
57,091		 2024
£
6,307
6,307
2024
£
23,455
18,001
500
9,412
585
51,953
1,536
53,489
53,464
25
53,489

7 Charitable activities

Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 1,548 1,536

8

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 2025

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Support costs allocated to activities

Governance costs
Analysed between:
Charitable activities		 2025
£
1,548
1,548		 2024
£
1,536
1,536

11 Employees

No persons are employed by the Society. Management services are provided by the Presbyterian Children's Society for which a charge is made.

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Net gains/(losses) on investments

Unrestricted Endowment
funds
funds
2025
2025
£
£
Revaluation of investments
29,132
5
For the year ended 31 December
2024
142,300
5		 Total
2025
£
29,137		 Total
2024
£
142,305
142,305

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 DECEMBER 2025

14 Fixed asset investments

in
Cost or valuation
At 1 January 2025
Additions
Realised gains
Unrealised gains
Disposals
At 31 December 2025
Carrying amount
At 31 December 2025
At 31 December 2024		 Listed
vestments
£
1,273,782
4,458
624
32,772
(10,498)
1,301,138
1,301,138
1,273,782

Listed investments are stated at market value. Day to day management of the Investment Portfolio is carried out by registered investment managers, Sarasin & Partners LLP.

15 Debtors

Amounts falling due within one year:
Trade debtors
16
Creditors: amounts falling due within one year
Accruals and deferred income		 2025
£
500
2025
£
3,640		 2024
£
25
2024
£
3,605

17 Endowment funds

Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

Permanent endowments

At 1 January Resources Gains and At 31
2025 expended losses December
2025
£ £ £ £
1,651 (25) 5 1,631

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 2025

17 Endowment funds (Continued)
Previous year: At 1 January Resources Gains and At 31
2024 expended losses December
2024
£ £ £ £
Permanent endowments
1,671 (25) 5 1,651

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At
General funds
Previous year:
At
General funds		 1 January
2025

£
1,291,008
1 January
2024

£
1,192,071		 Incoming
resources
Resources
expended
Gains and
losses
At 31
December
2025
£
£
£
£
62,624
(63,670)
29,132
1,319,094
Incoming
resources
Resources
expended
Gains and
losses
At 31
December
2024
£
£
£
£
16,408
(59,771)
142,300
1,291,008

19 Analysis of net assets between funds

Unrestricted
Endowment
funds
funds
2025
2025
£
£
At 31 December 2025:
Investments
1,299,507
1,631
Current assets/(liabilities)
19,587
-
1,319,094
1,631		 Total
2025
£
1,301,138
19,587
1,320,725

29

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 2025

19 Analysis of net assets between funds (Continued)
Unrestricted Endowment Total
funds funds
2024 2024 2024
£ £ £
At 31 December 2024:
Investments 1,272,131 1,651 1,273,782
Current assets/(liabilities) 18,877 - 18,877
1,291,008 1,651 1,292,659
20
Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
21
Cash absorbed by operations
Surplus for the year
Adjustments for:
Fair value gains and losses on investments
Movements in working capital:
(Increase)/decrease in debtors
Increase in creditors
Cash absorbed by operations		 2025
£
28,066
(29,137)
(475)
35
(1,511)		 2024
£
98,917
(142,305)
13
388
(42,987)

30

MANAGEMENT INFORMATION

for the year end ed 31 December 2024ed 31 December 2025

The following in formation does not form part of the statutory financial statements which are the formation does not form part of the statutory financial statements which are the subject of the in dependent auditors report on pages 15 to 18.dependent auditors report on pages 16 to 19.

31

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 2025

Incoming Resources
Investment Income
Dividends and Interest
Bank Interest
Other Income
Francis Curley Charitable Fund
Subscriptions
Congregational
Personal
Total Operating Income
Resources Expended
Grants To Children
Orphan Grants
Education Grants
Exceptional Grants
Management, Administration and Governance Costs
Management Services
Investment Management Costs
Printing and Stationery
Audit Fee
General Expenses
Total Resources Expended
Net Incoming/(Outgoing) Resources
Net gains/(losses) on investments
Net Income/(Expenditure) for the Financial Year		 £
£
2025
2024
45,000
-
562
803
13,701
13,265
3,361
2,215
-
125
62,624
16,408
23,394
23,455
20,001
18,001
1,000
500
9,660
9,412
6,604
6,307
284
210
1,548
1,536
1,204
375
63,695
59,796
(1,071)
(43,388)
29,137
142,305
28,066
98,917

32

Printed by Media Design and Print @ Northside Tel: 028 9045 9864 www.mediadesignandprint.com

34