DUNGIVEN CHURCH TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their report and accounts for the year ended 31 March 2024.
GOVERNING DOCUMENT
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Dungiven Church Trust was established under a Deed of Trust dated 14 April 1970.
TRUSTEES
The following trustees have held office since l April 2023:
Victor Carson
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resigned 10 July 2023
Ian Evans
Matthew Poston
William Turner
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 Street, Dungiven.
The Charity Trustees are responsible for the preparation of the accounts in accordance with the Charities Act (Northern
Ireland) 2008.
The Trustees are also responsible for maintaining proper accounting records 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 parish of Dungiven, Co Londonderry, 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 carried out with a view to the promotion of the
Christian religion in Co. Londonderry by means of a concrete manifestation of Christian charity in the local area.
PUBLIC BENEFIT
The Trust makes donations to or for the benefit of five named churches in the East Londonderry region. As the beneficiary
churches are themselves established for the advancement 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 charitable acts of individual Christians.
RESULTS AND RESERVES POLICY
The Trust's receipts for the year consisted of rental income and investment income totalling £4,895 (2023 £4,804).
Property and general administrative expenses incurred totalled £1,307 (2023 £1,320). As part of their financial
management of the Trust's assets, the Trustees invested £150,000 with M&G Investments on 25th March 2019. the
intention being to gain a better return than that from bank or cash deposits over the medium to long tern]. The long tern]
objective for the funds is to assist the Trust with future development of its propety. The M&G investment earned income
for the year of £2,970 (2023-£2,884) and had a fund valuation of £150,133 at 31" March 2024. (£146,650 at 31" March
2023)
The Trustees have made payments to the beneficiary churches during the year of £1,180 and the surplus of £2,324 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 £2,408 will be paid to Dungiven Parish Church after year end in accordance with the ternis of the Trust.
PLANS FOR THE FUTURE
The Trustees intend to develop the land at Main Street, 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 Trustees
.Graham Semple (Chainnan)
Date:
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