DUN
IVEN
HURCH TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their Teport and accounts for the year ended 31 March 2023.
GOVERIYING DOCUMENT
Dungiven Church Tn￿ was established under a Deed of Trust dated 14th April 1970.
TRUSTEES
The following trustees havc held office sincc l April 2022:
Victor Carson
Ian Evans
Matthew Poston
William Tumer
David Robinson
William Riley
Graham Semple
Alan Miller
May Thompson
TRUSTEES, RESPONSIBILITIES
The Trustees are responsible for the upkeep and maintenance of the land at Main StreeL Dungiven.
The Charity Trustees are responsible for the preparntion of the acwunts in accordance with the Charities Act (Northern
Ireland) 2008.
The Trustses are also responsible for maintaining proper a¢CA)unting re￿rdS which disclose with reasonable accuracy the
income and expenditure for the year. They are also responsible for safeguarding the assets of the trust and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
PRINCIPAL ACTIVITIES
The Trust manages the property entrusted to it by the Church of Ireland in the p8rish of Dungiven, Co ￿nd0nderry, using
the excess proceeds to provide financial support to the churches named in its founding Trust Deed. as well as needy
members of the congregations of those Churches. These activities are Ca￿led out with a view to the promotion of the
Christian religion in Co. Londonderry by means of a concrete maniftststion of Christian charity in the local area.
PUBLIC BENEFIT
The Trust makes donations to or for the benefit of five named churches in the Easl tx)ndonderry region. As the beneficiary
hurches are themselves established for the ￿vanceMent of the Christian religion. the benefit to the public is an increased
ability of the churches to spread the religion in that region. The benefits of the Christian religion include spiritual benefits
for worshippers as well as material benefits for recipients of charitsble acts of individual Christians.
RESULTS AND RESERVES POLICY
The Trust's receipts for the year consisted of rentsl income and investment income totalling £4,804 (2022 - £4,510).
Property and general administrative expenses incurred totalled £1.320 {2022 £843). As part of their financial
management of the Trust's &8sety the Trustees invested £150.000 with M&G Investments on 25th March 2019. the
intention being to gain a better return than that frorn bank or de￿Sits over the medium to long tenn. The long tenn
objective for the funds is to assist the Trust with future development of its property. The M&G investment earned income
for the year of £2,884 (2022-£2,590) and had a fund valuation of £146,650 at 31" March 2023. (£154,988 at 31. March
2022)
The Trustees have made payments to the beneficiary d)urches during the year of £1,160 and the surplus of £2.467 in the
previous year has been paid to Dungiven Parish Church in the current year. The balance of net income for the current year
of £2,324 will be paid to Dungiven Parish Church after year end in accordance with the ternis of the Trust.
PLANS FOR THE FtrruRE
The Trustees intend to develop the land at Main StreeL Dungiven to replace the property which was destroyed. The
Trustees consider a fair value of the land to be £45.000.
On behalf of the Tn￿CeS
Graham Semple (ChaiTm8n)
Date: 1010712023
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