CLOGHER DIOCESE SOCIAL FUND STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 DECEMBER 2022 31.12.22 Total lunds 31.12.21 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 7.717 7.717 6.650 Investment in¢ome 30.205 30205 35,557 Total 37,922 37,922 42.207 EXPENDITURE ON Raising funds 7,032 7,032 7.017 Ch2rit2ble activities Maintenance grants payble 26.035 26,035 24200 Other 931 931 843 Tolal 33,998 33,998 32,060 Net gainsl(losses) on investments (68,814) (68,814) 93.272 NET INCOMEJ{EXPENDITURE) (64.890) (64.890) 103.419 RECONCILIATION OF FUNDS Total funds brought forward 1,155,780 .155.780 1,052.361 TOTAL FUNDS CARRIED FORWARD 1,090,890 1,090,890 1,155.780 The notes fonn part of these financial statements Page 4
LOGHER DIOCESE OCIAL ND BALANCE SHEET 31 DECEMBER 2022 31.1122 Total funds 31.12.21 Total fiaS fimd FIXED ASSETS Investments io IJ5.Th 1,00&778 1.084.629 CURRENT A&SETS Cash at bank 8S.112 8SI12 71.151 NET CURRENT ASSETS 8&112 85,112 71,151 TOTAL ETs LE&S CURRENr LIABILTTIES 1.090ffi1 1.155,780 NET ASSETS 1.090J90 1.090090 1,155.780 FUNDS Unrestricted funds 1,090,890 I,I55,780 TOTAL FUNDS 1.090,890 1,155,780 The financial statements were approveAI by the BLxrd of Tn&ees and autho for issue on 2&Fébvdarya9+3 and were signed on its behalf by: The ne5 foTm part of these financial ststements
CLOGHER DIOCESE SOCIAL FUND NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 DECEMBER 2022 ACCOUNTING POLICIES B9sis ofpreparing the fin9neig1 statements The financial statements of the charity. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Prdctice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable tn the UK and Republic of Ireland, and the Charities Act 2011. The financial ststements have been prepared under the historical cost convention. with the exception of investments which are included at market value. &8 m(xlified by the revaluation of certain assets. lllcome All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, il is probable that the income will be received and the amount can be msUred reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation Committing the eharity to that expenditure, 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 accounted for on an accruals basis and has been classifled under headings that aggregate all cosl related to the category. Where costs cannot be directly attributed to particular headings they have been allocatcd to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have noi been met at the year end date are noted as a commitment bul not accru as expenditure. Taxation The charity is exempt from tsx on its charitable activities. Fund accounling Unrestricted funds can be used in accordance with ihe charitsble objectives at the discretion of the ttee$. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanalion of the nature and purpose of each fimd is included in the notes to the financial statements. Investments Investments are ststed at current market value. DONATIONS AND LEGACILS 31.12.22 31.12.21 Subscriptions and subscribing parishes RCB distributions 1.660 6.057 861 5,789 7.717 6,650 Page 6 continued...
CLOGHER DIOCESE SOCIAL FUND NOTES TO THE FINANCIAL STATEMENTS- tontiDued for the Year Ended 31 DECEMBER 2022 INVESTMENT INCOME 31.12.22 31.12.21 Deposit account interest Investment income 145 30.060 35.551 30.205 35,557 RAISING FUNDS nveslment management costs 31.12.22 31.12.21 Investment tnanagement fee 7.032 7,017 CHARITABLE ACTIVITIES COSTS Grant funding of activities (see note 6) Maintenance grdnts payble 26,035 GRANTS PAYABLE 31.12.22 31.12.21 Maintenance grants payble 26,035 24.200 SUPPORT COSTS Management Finance Totsls Other resources expended 168 763 931 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneralion or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021. Trustees, expenses There were no trusieas, expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021. Page 7 continued...
CLOGHER DIOCESE SOCIAL FUND NOTES TO THE FINANCIAL STATEMENTS- CODtinued for the Year Ended 31 DECEMBER 2022 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 6,650 6.650 Investment income 35,557 35.557 Totsl 42.207 42.207 EXPENDITURE ON Raising funds 7,017 7.017 Charitable activities Maintenance grants payble 24.200 24.200 843 843 Total 32.060 32.060 Net gains OD investments 93272 93.272 NET INCOME 103,419 103.419 RECONCILIATION OF FUNDS Total funds brought forward ,052,361 .052.361 TOTAL FUNDS CARRIED FORWARD .155.780 1,155.780 io. FIXED ASSET INVESTMENTS Listed investtnents MARKET VALUE At l January 2022 Additions Disposals Decrease in valuation 1.084,629 12,241 (22,278) (68.814) At 31 December 2022 ,005,778 NET BOOK VALUE At 31 December 2022 1.005.778 At 31 December 2021 1,084.629 The market value of investment assets held at 31 December 2022 are comprised of the following: Investment assets held within the UK - £713,999 Page 8 continued...
CLOGHER DIOCESE SOCIAL FUND OTES TO THE FINANCIAL STATEMENTS- contiDued for the Year Ellded 31 DECEMBER 2022 io. FIXED ASSET INVESTMENTS- continued Investment assets held outside the UK - £291,779 Cost or valuation at 31 December 2022 is represented by: Listed inveslments Valuation in 2022 1,005,778 MOVEMENT IN FUNDS Net movement in funds At 31.12.22 At 1.1.22 Unreslricted funds General fund 1,155,780 (64,890) 1,090.890 TOTAL FUNDS 1,155.780 (64,890) 1.090,890 Net movement in funds. included in the atK)ve are &$ follows: Incoming Resources expended Gains and losses Movement in funds Unrestricted funds General fijnd 37.922 {33.998) (68,814) (64,890) TOTAL FUNDS 37.922 (33,998) (68,814) (64.890) Comp2r8tives for movement in funds Net movement in funds At 31.12.21 At 1.1.21 Unreslricted funds General fund 1,052.361 103,419 ,155,780 TOTAL FUNDS ,052,361 103,419 ,155.780 Page 9 continued...
CLOGHER DIOCESE SOCIAL FUND NOTES TO THE FINANCIAL STATEMENTS- CODtinued for the Year Ended 31 DECEMBER 2022 MOVEMENT IN FUNDS- continued Comparative net movement in funds. included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in ndS UDre5tric¢ed fullds General fund 42.207 (32.060) 93,272 103,419 TOTAL FUNDS 42,207 (32,060) 93.272 103.419 A current year 12 months and prior year 12 months combind position ts as follows". Net movement in fimds At 31.12.22 At 1.1.21 Unrestricted funds General fund 1.052.361 38,529 1,090,890 TOTAL FUNDS 1.052.361 38.529 1,090,890 A current year 12 months and prior year 12 months combined tt movement in funds. included in the above are as follows: Incoming Resourc expended Gains and losses Movement in funds Uttrestricied funds General fund 80.129 (66.058) 24,458 38.529 TOTAL FUNDS 80.129 {66,058) 24.458 38.529 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2022. Page 10
CLOGHER DIOCESE SOCIAL FUND DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 DECEMBER 2022 31.12.22 31.12.21 INCOME AND ENDOWMENTS DonatlODS and leg2Ci¢S Subscriptions and subscribing parishes RCB distributions 1,660 6,057 861 5,789 7,717 6.650 Investment income Deposil account interest Investment income 145 30.060 35.551 30,205 35,557 Total iDcomiDg resources 37.922 42,207 EXPENDITURE Investment management costs Investment managemeni fee 7,032 7.017 Charitable activities Gt7nts to institutions Grants to individuals 1500 24.535 1,500 22,700 26,035 24.200 Support costs Managemeot Insurance 168 84 Finance Bank charges Accountancy 43 720 39 720 763 759 Total resources expended 33,998 32,060 Net income 3,924 10,147 This page does not fonn part of the statutory flnancial statements Pagell