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Company Registration Number: Nld46248 Charity Number: 102840
Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down {A company limited by guarantaa, not having a share capital) Annual Report and Audited Financial Statements
for the financial year ended 30 June 2025
Finegan Gibson Lid Chartered accountants and Registered auditors 2nd Floor Causaway Tower $ James Street South Belfast Anitrter 8T2 ON
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Church of ireland Orphans and Childrens Society for the Counties of Antrim and Down
{A company Emitod by guarantee, not having a share capital) CONTENTS
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|:|Page|
|Reference|and Administrative|information|3|
|Trustees' Annual|Report|4-7|
|Statement of Trustees'|Responsibilities|8|
|Independent|Auditor's|Report|ie i|
|Statement|of Financial|Activities|12|
|Balance|Sheet|13|
|Notes|to the|Financial|Statements|14-19|
|Supplementary|information|relating|to|the Financial Statements|21|
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Church of Ireland Orphans and Childrens Society for the Counties of Antrim and
Down
. (4 company limited by quarantes, not having a share capital)
REFERENCE AND ADMINISTRATIVE INFORMATION
. Trustees Rev Ganon William Taggart
The Venerable TR West
Mr AR Brannigan
Mrs K M Rodgers (Resigned 23 Noveriber 2025)
Raverend AR Halligan (Rasigned 23 January 2026}
Mrs E J Butler
Mr S Kitchinghem (Appointed 28 November 2024)
Mr J! E Bunting
Bishop D A McClay
Ms G M Jass
Mrs B A Ringland
Mir R S Lawther
Bishop G Davidsen
Charity Number in Norther Ireland 102840
Company Registration Number NIDR6248
Registered Office and Principal Address Unit 4
24 Old Channe! Road
Belfast
Antim
BT3 SDE
Northern iraland
Auditors Finegan Gibson Ltd
, Chartered accountants and Registered auditors
. Zad Floor
Causeway Tower
9 Jarnes Sireet South
Belfast
Antrim
BT2 8DN
Principal Bankers Al® (ul)
35 University Road
: Belfast
Antrim
BT7tNO
Northern fretand
Bank of {reland
61-67 Donagail Street
Belfast
“ Antdm
BT1 2QH
Norhern lreland
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ereNTS
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## Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down (A company limited by guarantoe, not having a share capital) TRUSTEES’ ANNUAL REPORT for the financial year ended 30 June 2025
The trustees present thelr Trustees’ Annual Resort, cambining the Directors’ Report and Trustees’ Report, and the auditad financial statements for the financial year endee 30 June 2025. The financial statements ara prepared in accordance with the Companias Act 2006, FRS 102 “The Financiai Reporting Standard applicable in ine UK and Republic of Ireland” and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accaniance with the Financial Resorting Standard applicable in the UK and Republic of Ireland {FRS 102).
The Trustaes' Report eonisins the information required to be provided in the Trustees’ Annual Report under the Siatement of Recommended Practice (SORP) guidelines. The trusteas of the charity aré also charlty trustees for the purpase of charify law and under the charity's constitution are known as membars of the board of tustees.
In this repodi the trustees of Church of Ireland Orphans arid Childrens Seciety for the Counties of Antrim and Down present a summary of ifs purpose, governance, activities, achievements and finances for the financial year 30 June 2025.
The chatity is a registered charlly and fence the report and results are presented in a form which complies with the requirements of the Companies Act 2066 and, although not cbliged to comply with the Statement of Recommended Practice applicable in the UK and Repubile of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements.
## Misston, Objectives and Strafagy
Objectives The principal activitles of the charitable company are unchanged from last year and are to support Ghurch of Inland orphans and other children in need in the counties af Antim and Doven, by utilizing @ mixture of direct grant aid and support of parochial and diceesan projects specifically designed to assist ta children in need. The objectives of the charitable company in the year under review ware to continue with these activities and to develop further the establishment of parechlal projects to benefit naedy children and young people. The trustegs achiaved this objactive by assisting with 2 significantly increased number of such projects and strategie developmanis during the year, the strategy will be broadly simitar. Accepting that the maintenance of a strong revenve reserve 's particularly important in dellyaring the charity‘s strategy over the longer term, In 2624, the trustees were pleased to support a number of new and significant projects which reduced available revenue reserves towards the trustees’ preferred ievels.
## Grant approval pracess
The Board of Directors scrutinise ali applications for grant aid except for Bereavement Grants which ere paid at the time of need and reportad to the committee after (he events. Applications for help far individuals are processed frst by the sponsoring racior, who must sign off thé application and has the right ta add supportive details as may best seem . fit. All such applications are processed by the Board of Directors which has absclute discretion In such matters. In the sé of applications for grants in support of parish-based projects, application farms and supporting iiterature are handied by the Executive Committee which narmally requires applications for funding at or above £10,000 t be supported by Interview with the local organisers. The Board of Directors also seek reports of progress on larger profects which, again, may take the form of interviews as well a3 paper-based reports. On accasians were deemed necessary, thé Executive Commities wil return applications seeking additional materiat or information before a decision can be made.
## Strategy
The faflowing sactions for achievements and performance and financiat review form the strategic report of the charity.
## Structure, Governance and Management
Structure Chureh of ireland Orphans and Chadren Society for the Countles of Anirlm and Down is a charitable company limited by guarantee and does not have a share capital, [tis gavemed by a Mernorandum and Articles of Association and ite lability of each member Is Hmited to an amount not exceeding £1. Reference and administralive detfalls Datails of the ragistered office, trustees, advisers, and other relevant information is given on page 3. Nn ODD 4
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## Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Bown (A company Iiinited ky quarantsa, not having a share capital) TRUSTEES’ ANNUAL REPORT
for the financiaj year ended 30 June 2028
## Directors/Trustees
The trustees as of 30 June 2025 who were in office during the yaar and up to tha date of signing the financlal statements. are as outlined on page 3.
The Board of Trusteas meets at feast quarterly or more frequently, if required, The day-to-day management af the charitable company was catriad out by the Treasurer, Secretary, and the Chalman. Upen alection, each trustee is given a copy of the Memorandum and Articlas of Association, the Jatest annual report ard accounts and ingaduced to the fegal end operationat aspects of the charity to ensure they undarstand the nature of charily trusteeship and the responsibilities and duties that go with this positon.
The trusteas are racruited from Church of Ireland tay and clerical persons from within tha ivo countias. The persons selected bring skills which the board wishes to utilise, and all appointments are subject to regular election at Annual General Mestings. No trustees received any payment for their services although certain spacific and receipted expenses could be occasionally claimed. Trusteas retire by rotation for possible re-election, they may also retire af any thine of {helt choasing.
Administration of the charity's business has been continued by the fustses with secretarial and financial services being provided ad hac by individuals. The trustees have agreed that such Specific sarvicas may be paid for. Public benefit The trustees believe that the charitable company provides = public benefit in several ways and most obviously by directly helping, through local parist or link organisations, mary ahildren and young people in social, economic and spiritual distress, and through its efforts to pramote tha advancement of religion.
## The Charity Commissisn for Nerthem Ireland (CON!)
The charity was registered with the Charities Commission Northern ireiand on 25th February 2016, Under the application the Inustees had sequested seligicus designatlen, and thls peint will be adjudged by the Commission in due course. The classifications under which the charity Is presently registered are the relief of (hose in need and the relic? of poverty. The trestess retain a bank accaunt under the forrier litle of Protestant Orphan Sactaty far the counties of Antrim and Down (o receive any payments made under that title, any such receipts are consotidalad within the sociaty’s azcounte,
Review of Achievements and Performance Bereavement grants totalling £10,000 (2024; £3,000) wera paid to 6 (2024: 2) families. Grants for special projects were paid to 14 (2024; 18) schemes totalling £130,326 (2024: £150,863). In its support of orphans, the charitable company Is continuing the werk of is predecessor, the Protestant Orphan Sociely fer the Counties of Anim and Oown. The latter was established In 1866, since that day the present charitable campany and its predecessor have nalped 14,414 orphaned children, 46 orphans (2024: 5S) and 7 non-orphan chid (2024: 4) were assisted by direct grant aid totalling £79,090 (2024: £74,850).
Financial Review The financial stataments are presented in the standard format required by the Statement of Racommended Practice “Accounting and Reporting by Charities” FRS102 affeciive 1 January 2015 and covers the activities of the Church of \eland Grehans and Children Society for the Counties af Antrini and Down, The statement of financial activities {SOFA) shows the gross Income from all sources.
## lncome
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## Revenue Fund
Excluding baquests, the revenue income decreased te £215,170, from £219,328 in the 2022/24 year. Charitable payments decreased by 3% to £254,095 (2024; £262,835), The Board of Directors continued with ils policy of encouraging large scale multi-year grant packages but hes been consisteni In supporting only those schames it feals are bast able fo meet the principal objects of the charity. The tustees remain concemed thal, with such avident need In many paris of the twa counties, mora applications are fiat teing recelved fram parishes based in or near those localities. However, the trustees are pleased to note that diacases are increasingly stepping in to assist parishes to provide help to children and young people where local resources may not be sufficiently strong in themselves to commit to large scale projects. The importance of strang revenue sbeamis and longer-term projects is of critical value in the present econemlc cllmate when statutory funding for social and educational initfatives are under pressure and charities such as the Church of Ireland Orphans and Childrens Saciety for the Counties of Aniriny and Down are under increasing pressure to help those least able to help themselves. Overall, core Income fund activilies had a daficit of £38,929 (2024: deficlt of£24,235). 5
Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down (A company ilmited by guarantee, nothaving a share capital) TRUSTEES’ ANNUAL REPORT for the financial year ended 30 June 2025
Endowments
No endowments were received by the charity during the year under review ENIL (2024: £22,272).
## inves{ment sowers, policy and performance
(investment powers are utilised by the trustees, which permit the funds lo 85 Invested in ihe manner shown in acte & te tHe financial staterients. The trusteas intend that ihe real value of the charifable company's investments will be maintained and enhanced over the long term by investment in a portolio mostly comprising aquities, fixed income stocks and cash. In order ta meet these objectives, the trustees have retained Cunningham Coatas Liniited as Investment Advisers as their agent fo manage a diversified partfolic of suitable investments on an advisary basis. Tha bref to the Investment Adviser states that they should develop a balanced portfolio designed te give long term positive returns in income and capital, with moderate ¢lsk. The proportions invested in Investment classes are regularly reviewed with the Investmant Adviser to ensure the most beneficial structure for the charitable company’s investment assets. Bearing in mind that Income trom donations amaunis ie just under 2% of the total Incoming resources, it remains the policy of the directors fo invest capital recalpts and any realisations from capital disposals. The trustees recognise there are often issues of social, environmental and ethical concem in connection with invastmsnt holdings. The complexity and seate of many companies and funds are such that it is difficult to ensure no connection with contantious areas. However, the usteas ara satisfied that none of their holdings are over exposed ta areas of key concern such as alcohol, tobacca and armaments, Inter-fund transfers The trustees authorised no transfers from revenue to capitat in 2028 (2024: ENiL)
Financial Results At the end of tha financiat year the charity has assets of £7,149,524 (2024 ~ £7,307,859) and llabilities of £12,317 (2024 - £18,255). Tha nel assets of the charity have decreased Sy £(152,188).
## Reserves Position and Palicy
Reservas Policy The charitable company's policy is to retain 2 level of free reserves which matches its needs bath at the curent time and in the foreseeable future, Free reserves ara those unrestricted reserves which ara reprasented by the Incorne Fund and totalled £370,182 at 30 June 2025 (2024: £409,111), The reserves are required ta be sufficient to mest cammitted grant expenditure and the running costs for a period equivalent te at least 42 months normat annual expenditure. As planned, the recent heavy grant-making programme has brought reserves very cise ta the interided jevel, however, the sustees Intend to 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 revletv. Noting the raat and long-term gentle decline of parochial donations to the charity, the trustees maintain a policy of actively managing the capitat partfotis in order fo 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 orévide grant aid and support fo orphans and chitdren in need.
Principal Risks and Uncertainties The Trustees have assessed the major risks to which tha charitable company is exposed, in particular thase related to the operations, invasiments and finances of the charitable company and are satisfied that systems ara in place to mifigata any expasure to the major risks. The Trustees continue to review risk policies and mitigation stratfegias. The members of the Board also act as the Risk Committes. Plansfor future periods The number of applications for individual orphans and children has remained reasonably consistent arid. in most years, 3 corresponding increase in the demand for parish-based projects in connection with econemically and sociaily disadvantaged children. Tie impact of these changes on the flnancas of the chaniable company has been very noticeable and the (rustees expect that this (rend will continue. The present economic environment has Impacted mos} heavily an those feast able to fall back on their own resources and the trustsas are actvely seeking opportunities {o initiate or develop work in those areas where the greatest 6
Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down (A company limited by guarantee, not having a share capital TRUSTEES' ANNUAL REPORT for the financial year ended 30 June 2025 impact can be made. The key for the delivery of successful projects al ground ievat lies in the capabilities of those managing them, and this remains a problem for many churches In difficult areas, The irend for the use of multi-year projects, where financiat assistanca can be extended for as long as three years continues. This increases the demand fer accountability and reporting but is often the best way to iniliate projects which can then find other resaurces ta continue their work and allow the charity to turn Its attention efsewhera. Mult-yaar projects must be carefully gauged against the need to retain cperaticnal flexibility to react to future need as required.
## Trustags
The trustees who served throughout the financial year, except as noted, were as follows:
Rev Casion Wiliam Taggart The Venerable T R West Mr AR Brannigan Mis K M Rodgers (Resigned 28 November 2025) Reverend A R Halligan (Resigned 23 January 2026) Mrs E J Butler Mr S Kitchingham {Appointed 28 November 2025) Mir J E Bunting Bishcp D A McClay Ms G Ni Jess Mis B A Ringiand MrR S Lawlher Bishop G Davidson
In accordance with the Constitution, the trustees zalire by rotation and, being eligiale, offer themselves for re-election.
Compliance with Sector-Wide Legislation and Standards The charity engages pro-actively with legislation, standards and codes which are developed for the sector. Church of ireland Orphans and Childrens Society for the Counties of Antrim and Downsubseribes to and Is compliant with the following:
s The Companies Act 2006 » The Charles SORP (FRS 102)
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Exemptions from Disclosure
: Theexemptionscharitableon companyincome and|s aprofitscharityfromrecognisedinvasimentsby HMandRevenuesurpluses &onCustoms,any tradingand,activitesas such,carriedis enlitledon intofurtherancecertain tax
of its primary objectives, if these profits and surpluses are apglisd solely for charitable purposes. The charitable
company is not rsgistered for VAT and accordingly all its expenditure is recorded Inclusive af any VAT incurred,
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The Auditors
The auditors, Finegan Gibson Ltd, (Chartered accountants) have indicated their willlngness to continue in office in
accordance swith the pravisions of Saction 485 of the Companies Act 2006.
Approved by the Board of Trustees on 13 March 2026 and slyned on tis behalf by:
¢ Q |
The Venerable T R West Mr RS Lawther
Trustee Trustse
iii ii eer i an CET
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Church of treland Orphans and Childrens Society for the Counties of Antrim and
Down
{A company Ilmited by guarantee, not having a share capital)
STATEMENT OF TRUSTEES' RESPONSIBILITIES
for the financial year ended 30 June 2025
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The trustees, who are also directors of Church of Iraland Orphans and Childrens Sociaty for the Countiag of Antrim
and Down for the purposes of company faw, are responsible for preparing the financial statements in socordance with
applicable law and regulations.
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Company law raquires the trustees zs the directors to prepare financial statements for each financial yadr. Under thet
law the trustees have elected to prepare the financial statements ih accordance with United Kingdom Generally
Accepted Accounting Practice (United Kingdom Accounting Standards and appilcacle law) Including FRS 192 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). Under
company lav the trustees must not approve the financial statements uniess they are satisfied that they give a fue and
igir View of the state of affairs of the comparty and of the surplus ar deficit of the company for that perlod.
In preparing these financial statements, the trustees are required to:
= select suitabis accaunting policies and apply them conaistently:
* gbserve the methods and principles in the Charities SORP;
* make judgements and accounting estimates that are reasonable and prudent;
«state Whether the financial statements have besn prepared in accordance with applicable accaunting standards,
identify those staridards. arid nole the effect and the reasons for any material departure fram those standards; and
+ prepare he financial statements on the going concern basis unless it is iiappropfiate to presume that the charity
will continue in operation.
The trustees are responsible far keeping adequate accountng records that ara sufficient {ao show and explain the
chatity’s transactlons and disclose with reasonable accuracy at any lime tha financial position of the charity and
enable them fo ensure that tha financial statements comply with the Companies Act 2006 and. They are also
responsible for safeguarding the assats of tha charity and hence for taking reasonable steps for the preventon and
detectlen of fraud and other Irragularities.
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- In 30 far as the fustees are aware:
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- »* there #3 no relevant audit information (information needed by the charity's auditor in connection with preparing the auditor's reports of which the charity's auditor Is unaware, and
- * ihe trusiees have taken ail the steps that they ought to have faken as trusiges in order to make themselves aware of any relavant audit information and to estabilsh that the charity's auditor is aware of that information.
## Approved by the Board of Trustees on 13 March 2026 and signed on its behalf by:
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The Venerable T R West ir RS Lawiher
Trustee Trustee
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