COMPANY REGISTRATION NUMBER: N1046248
CHARITY REGISTRATION NUMBER: 102840
Church of Ireland Orphans and Childrens Society for
the Counties of Antrim and Down
Company Limited by Guarantee
Financial Statements
30 June 2024
Finegan Gibson Ltd
Chartered accountants & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN

Church of Ireland Orphans and Childrens Society for the Counties
of Antrim and Down
Company Limited by Guarantee
Financial Statements
Year ended 30 June 2024
Page
Trustees, annual report (incorporating the directorfs report)
Independent auditorfs report to the members
Statement of financial activities (including income and
expenditure account)
15
Statement of financial position
16
Statement of cash flows
17
Notes to the financial statements
18

Church of Ireland Orphans and Childrens Society for the Counties
of Antrim and Down
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report)
Year ended 30 June 2024
The trustees, who are also the directors for the purposes of company law. present their report and the
financial statements of the charity for the year ended 30 June 2024.
Reference and administrative details
Reglstered charlty name
Church of Ireland Orphans and Childrens Society for the Counties
of Antrim and Down
Charity registration number
102840
Company registration number N1046248
Principal office and registered Unit 1
office
21 Old Channel Road
Belfast
BT3 9DE
Northem Ireland
The trustees
Mrs E J Butler
Mr J E Bunting
Reverend Canon W J Taggart
MsGMJess
The Venerable T R West
Mrs K M Rodgers
Mrs B A Ringland
Bishop D A Mcclay
Mrs A.E Mccallum
Mr R S Lawther
Reverend A R Halligan
Bishop G Davison
Mr A R Brannigan
(Resigned 21 November 2023)
(Appointed 12 De￿mber 2023)
Auditor
Finegan Gibson Ltd
Chartered accountants & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN
Bankers
AIB (NI)
35 University Road
Belfast
BT71ND

Church of Ireland Orphans and Childrens Society for the Counties
of Antrim and Down
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 30 June 2024
Bank of Ireland
418 High Street
Belfast
BT12BA

Church of Ireland Orphans and Childrens Society for the Counties
of Antrim and Down
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 30 June 2024
Structure, governance and management
Church of Ireland Orphans and Children Society for the Counties of Antrim and Down is a charitable
company limited by guarantee and does not have a share capital. It is governed by a Memorandum
and Articles of Association and the liability of each member is limited to an amount not exceeding £1.
Reference and administrative details
Details of the registered office. trustees, advisers. and other relevant information is given on page 1.
DlrectorslTrustees
The trustees as of 30 June 2024 who were in office during the year and up to the date of signing the
financial statements, are as outlined on page 1.
The Board of Trustees meets at least quarterly or more frequently, if required. The d3y-tc￿daY
management of the charitable company was carried out by the Treasurer, Secretary, and the
Chairman. Upon election, each trustee is given a copy of the Memorandum and Articles of
Association, the latest annual reporl and accounts and introduced to the legal and operational aspects
of the charity to ensure they understand the nature of charity trusteeship and the responsibilities and
duties that go with this position.
The trustees are recruited from Church of Ireland lay and clerical persons from within the two counties.
The persons selected bring skills which the board wishes to utilise, and all appointments are subject to
regular election at Annual General Meetings. No trustees received any payment for their services
although certain specific and re￿Ipted expenses could be occasionally claimed. Trustees retire by
rotation for possible re-election, they may also retire at any time of their Ghoosing.
Administration of the charity's business has been continued by the trustees with secretarial and
financial seNices being provided ad hoc by individuals. The trustees have agreed that such specific
services may be paid for.
Risk
The Trustees have assessed the major risks to which the charitable company is exposed, in particular
those related to the operations, investments and fInan￿S of the charitable company and are satisfied
that systems are in place to mitigate any exposure to the major risks. The Trustees continue to review
risk policies and mitigation strategies. The members of the Board also act as the Risk Committee.
Public benefit
The trustees believe that the charitable company provides a public benefit in several ways and most
obviously by direclly helping. through local parish or link organisations. many children and young
people in social, economic and spiritual distress, and through its efforts to promote the advancement
of religion.
The Charity Commission for Northern Ireland (CCNQ
The charity was registered with the Charities Commission Northem Ireland on 25th February 2016.
Under the application the trustees had requested religious designation and this point will be adjudged

Church of Ireland Orphans and Childrens Society for the Counties
of Antrim and Down
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 30 June 2024
by the Commission in due course. The classtfications under which the charity is presently registered
are the relief of those in need and the relief of poverty. The trustees retain a bank account under the
former title of Protestant Orphan Society for the counties of Antrim and Down to receive any payments
made under that title. any such receipts are consolidated within the society's accounts.
Objectives and activities
The principal activities of the charitable company are unchanged from last year and are to support
Church of Ireland orphans and other children in need in the counties of Antrim and Down, by utilizing a
mixture of direct grant aid and supporl of parochial and diocesan projects specifically designed to
assist to children in need.
The objectives of the charitable company in the year under review were to continue with these
activities and to develop further the establishment of parochial projects to benefit needy children and
young people. The trustees achieved this objective by assisting with a significantly increased number
of such projects and strategic developments during the year. the strategy will be broadly similar.
Accepting that the maintenance of a strong revenue reserve is particularly important in delivering the
charity's Stralegy over the longer term. in 2024. the trustees were pleased to support a number of new
and significant projects which reduced available revenue reseNes towards the trustees, preferred
levels.
Grant approval process
The Board of Directors scrLrtinise all applications for grant aid except for Bereavement Grants which
are paid at the time of need and reported to the committee after the events. Applications for help for
individuals are processed first by the sponsoring rector, who must sign off the application and has the
right to add supportive details as may best seem fit. All such applications are processed by the Board
of Directors which has absolute discretion in such matters. In the case of applications for grants in
support of parish-based projects. application fomis and supporting literature are handled by the
Executive Committee which normally requires applications for funding at or above £10,000 to be
supported by interview with the local organisers. The Board of Directors also seek reports of progress
on larger projects which, again, may take the fomi of interviews as well as paper-based reports. On
occasions were deemed necessary, the Executive Committee will retum applications seeking
additional material or information before a decision can be made.
Strategic report
The following sections for achievements and performance and financial review form the strategic
report of the charity.
Achlevements and performance
Bereavement grants totalling £3.000 {2023:£9,000} were paid to 2(2023: 61 families. Grants for special
projects were paid to 16 (2023.. 14) schemes totalling £150,863 {2023= £177,2501- In its support of
orphans, the charitable company is continuing the work of its predecessor. the Protestant Orphan
Society for the Counties of Antrim and Down. The latter was established in 1866, since that day the
present charitable company and its predecessor have helped 14.468 orphaned children, 59 orphans
(2023.. 48) and 4 non-orphan children (2023.. 1) were assisted by direct grant aid totslling £74,850
{2023'. £68,130).

Church of Ireland Orphans and Childrens Society for the Counties
of Antrim and Down
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 30 June 2024
Financial review
The financial statements are presented in the standard fomiat required by the Statement of
Recommended Practice 'Accounting and Reporting by Charities" FRS102 effective 1 January 2015
and covers Ihe activities of the Church of Ireland Orphans and Children Society for the Counties of
Antrim and Down. The statement of financial activities (SOFA) shows the gross income from all
sources.
Results
Revenue Fund
Excluding bequests, the revenue income increased to £219.328 from £211.278 in the 2022123 year.
Charitable payments decreased by 90/0 to £262,835 (2023: £288,900). The Board of Directors
continued with its policy of encouraging large scale multi-year grant packages but has been consistent
in supporting only those schemes it feels are best able to meet the principal objects of the charity.
The trustees remain concemed that, with such evident need in many parts of the two counties, more
applications are not being received from parishes based in or near those localities. However, the
Irustees are pleased lo note Ihat dioceses are increasingly slepping in to assist parishes to provide
help to children and young people where local resources may not be sufficiently strong in themselves
lo commit to large scale projects. The importance of strong revenue streams and longer-term projects
is of critical value in the present economic climate when statutory funding for social and educational
initiatives are under pressure and charities such as the Church of Ireland Orphans and Childrens
Society for the Counties of Antrim and Down are under increasing pressure to help those least able to
help themselves.
Overall, core income fund activities had a deficit for the year of £21,23512023'. deficit of £77,622}.
Endowments
An endowment of £22,272 was gifted to the charity during the year under review (2023 - £0)-
Investment powers, policy and perf0rn7ance
Investment powers are utilised by the trustees, which pemiit the funds to be invested in the manner
shown in note 9 to the financial statements. The trustees intend that the real value of the charitable
company's investments will be maintained and enhanced over the long term by investment in a
portfolio mostly comprising equities. fixed income stocks and cash. In order to meet these objectives.
the trustees have retained Cunningham Coates Limited as Investment Advisers as their agent to
manage a a diversified portfolio of suitable investments on an advisory basis.
The brief to the Investment Adviser states that they should develop a balanced portfolio designed to
give long term positive returns in income and capitsl, with moderate risk. The proportions invested in
investment classes are regularly reviewed with the Investment Adviser to ensure the most beneficial
structure for the charitable company's investrnent assets.
Bearing in mind that income from donations amounts to under 2¥0 of the total incoming resources, it
remains the policy of the directors to invest capital re￿Ipts and any realizations from capital disposals.
The trustees recognise there are often issues of social, environmental and ethical concern in

Church of Ireland Orphans and Childrens Society for the Counties
of Antrim and Down
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 30 June 2024
Gonnection wilh investment holdings. The complexity and scale of many companies and funds are
such that it is difficult to ensure no connection with contentious areas. However, the trustees are
satisfied that none of their holdings are over exposed to areas of key concem such as alcohol,
tobacco and armaments.
Inter-fund transfers
The trustees authorised no transfers from revenue to capital in 2024 (2023.. £nil)
Reserves policy
The charitsble company's policy is to retain a level of free reserves which matches its needs both at
Ihe current time and in Ihe foreseeable future. Free reserves are those unrestricted reserves which are
represented by the Income Fund and totalled £409,111 at 30 June 2024 (2023.. £430,346). The
reserves are required to be sufficient to meet committed grant expenditure and the running costs for a
period equivalent to at least 12 months nomial annual expenditure. As planned. the recent heavy
grant-making programme has brought reserves very close to the intended level, however, the trustees
intend lo press on with new and existing programmes as long as suitable and well organised options
continue to seek help. The reserves policy is kept under review.
Noting the real and long-temi gentle decline of parochial donations to the charity, the trustees maintain
a policy of actively managing the capital portfolio in order to increase the operational possibilities of
the charity in future years. Revenue reserves are held in cash outside the capital fund. Capital
funds are held to provide future income which can be used to provide grant aid and support to orphans
and children in need.
Taxation status
The charitable company is a charity recognised by HM Revenue & Customs, and, as such, is entitled
lo certain tax exemptions on income and profits from inveslments and surpluses on any trading
activities carried on in furtherance of its primary objeclives, rf these profits and surpluses are applied
solely for charilable purposes. The charitable company is not registered for VAT and accordingly all its
expenditure is recorded inclusive of any VAT incurred.

Church of Ireland Orphans and Childrens Society for the Counties
of Antrim and Down
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 30 June 2024
Plans for future periods
The number of applications for individual orphans and children has remained reasonably consistent
and, in most years, a corresponding increase in the demand for parish-based projects in connection
with economically and socially disadvantaged children. The impact of these changes on the finances
of the charitable company has been very noticeable and the trustees expect that this trend will
continue.
The present economiG environment has impacted most heavily on those least able lo fall back on their
own resources and the trustees are actively seeking opportunities lo initiate or develop work in those
areas where the greatest impact can be made. The key for the delivery of successful projects at
ground level lies in the capabilities of those managing them, and this remains a problem for many
churches in difficult areas.
The trend for the use of multi-year projects, where financial assistance can be extended for as long as
three years continues. This increases the demand for accountability and reporting bul is often the best
way to initiate projects which can then find other resources to continue their wort( and allow the charity
lo tum its altention elsewhere. Multi-year projects must be carefully gauged againsl the need to retain
operational flexibility to react to future need as required.
Some projects are still delayed or affected because of Covid-19 control measures and has resulted in
some projects that were due to take place being postponed and there was a reduction of applications
for project grants as they could no longer take place due to restrictions on social gathering and human
contact. The Trustees reviewed the charity's reserves policy and the level of reserves and concluded
that they were sufficient to cover the needs of the Society. The Trustees are still considering setting
aside funds for specffic future projects that would assist with supporting organisations coming out of
pandemic restrictions.
Trustees. responslbllltles statement
The trustees, who are also directors for the purposes of company law, are responsible for preparing
Ihe trustees. report and the financial statemenls in accordance with applicable law and United
Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a
true and fair view of Ihe state of affairs of the charitable company and the incoming resources and
application of resources, including the income and expenditure. for that period.

Church of Ireland Orphans and Childrens Society for the Counties
of Antrim and Down
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 30 June 2024
In preparing these financial ststements. the trustees are required to=
select suitable accounting policies and then apply them consistently-
observe the methods and principles in the applicable Charities SORP:
make judgments and accounting estimates that are reasonable and prudent-
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial statements-
prepare the financial statements on the going concem basis unless it is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the charity's transactions and disclose with reasonable accuracy at any time the financial
position of the charity and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms that..
so far as they are aware, there is no relevant audit infomiation of which the charity's auditor is
unaware" and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of
any relevant audit information and to establish that the Gharity's auditor is aware of that
information.
The trustees, annual report and the strategic report were approved on 21 March 2025 and signed on
behalf of the board of trustees by..
The Venerable T R West
Chaimian and Directorrrrustee