CL(iGHER DIOCESE SOCIAL FUND ST,ITEMENT OF FINANCIAL AcrivrTILS for the Year Ended 31 DECEMBER 2023 31.12.23 Total fuods 31.12.22 Total fid$ Unrestricted fund Restricted fimd Notes INCOME AND ENDOWMENTS FROM Donations and legacies &193 8.193 7.717 Investment income 30.930 30,930 30,205 Total 39.123 39.123 37.922 EXPENDITURE ON Raising funds 772 6,772 7,032 Cbaritsble activities Maintenance grants payble 22,965 22.965 26.035 Other 930 930 931 Total 30,667 30,667 33,998 Net gains/(losses) on investsnents 27.813 27,813 (68.814) NET INCOMFJ(EXPENDITURE) 36269 36,269 (64,890) RECONCILIATION OF FUNDS Total funds brought forward 1.090,890 1.090,890 1.155,780 TOTAL FUNDS CARRIED FORWARD 1.127,159 1.127,159 1,1)90,890 The notes fonn part of these financial statements Page 4
CL(iGHER DIOCESE SOCIAL FUND BP.LANCE SHF.F.T 31 DECEMBER 2023 31.12.23 Tot21 funds 31.12.22 Total funds fund fund Notes FIXED ASSETS Investments io I,IM6,019 1,046,019 1,005,778 CURRENT ASSETS Cash at bank 81,140 81.140 85.112 NET CURRENT ASSETS 81,140 81,140 85.112 TOTAL ASSETS LESS CURRENT LIABILITIES 1,127,159 1.127,159 1.090,890 NET ASSETS 1,127,159 1.127.159 1,090,890 FUNDS Unrestricted funds I,J27.l59 I.090.890 TOTAL FUNDS l.127,159 1,090.890 The fanCial statements were approved by the Board of TnL%tecs and authorised for issue on 16 April 2024 and were signed on its behalf by: Rt Revd Dr l Ellis Bishop of Clogher- Trttee 4-L 00 The Thotes forni part of these firwicial statements Page 5
CIAiGHER DIOCESE SOCIAL FUND NOTES TO THE FINANCIAL STATEMENts for the Year Ended 31 DECEMBER 2023 AccouKfING POLICILS Basis of preparing the financial ststemeDts The fmancial statements of the charity. which is a public t)efit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recottunended Practice applicable to ¢hariti¢s prq>aring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 2019).. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ire12nd' and the Charities Act 2011. The financial ststements have been prepared under the historical cost convention. with the exception of investments which ate included at market value. Income All income is recolSed in the Statement of Financial Activities once the charity has entitlement to the funds, it is PTobable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised expenditure as soon as there is a legal or CA)nstructive obligation committing the charity 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 Mured reliably. Expenditure is accounted for on an accruals basis and has been classified under headlngs that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commEtment but not accrued as expenditure. Tax2tlOD The charity is exempt from tsx on its charilable activities. Fund a¢¢ounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds (n only be used for particular restricted purposes within the obje£ts of the charity. Restrictions arise when specified by the donor or when fun(ts are rnised for particular Testrtcted purpow. Further explanation of the nature and purp(w of each fund is included in the notes to the financial statements. Investments Investments are stated at current market value. DONATIONS AND LEGACIES 31.12.23 31.12.22 Subscriptions and subscribing parishes RCB distributions 1,868 6J25 1,660 6,057 &193 7,717 Page 6 continued...
CL(iGHER DIOCESE SOCIAL FUND NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2023 INVESTMENT INCOME 31.12.23 31.12.22 Deposit account interest InvestmeTht income 819 30,111 145 30,060 30,930 30,205 RAISING FUNDS InvestmeDt management Costs 31.12.23 31.12.22 Investment management fee 6.7n 7,032 CHARITABLE ACTIVITIES COSTS Grant fimdtng of activities (see note 6) Maintenance grants payble 22.965 GRAKfs PAY ABLE 31.12.23 31.12.22 Maintenance grants payble 22.965 26.035 SUPPORT COSTS Management FiThanLY Totals Other resources expended 762 930 TRUSTEES, REMUNERATION AND BENEFITS There were no tnLStees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, expenses There were no trustees. expenses paid for the year ended 31 December 2023 noi for the year ended 31 December 2022. Page 7 continued...
CUiGHER DIOCESE SOCIAL FUND NOTES TO THE FINANCIAL STATEMENfs- contlDued for tbe Ye¥r Ended 31 DECEMBER 2023 COMPARATIVES FOR THE STATEME1 OF FINANCIAL AcrivrriES Unrestrictol Restrict fimd fimd Total funds INCOME AND ENDOWMENfs FROM Donations and legacies 7.717 7.717 tnvestment income 30205 30,205 Total 37.922 37,922 EXPEIYDrtURE ON Raising funds 7.032 7,032 Charitable activities Maintenance grants payble 26,035 26.035 Other 931 931 Total 33.998 33.998 Net gainsl(lo&ses} on investments (68,814) (68.814) NET INCOMEI(EXPENDITURE) (64.890) (64.890) RECONCILIATION OF FUNDS Total fun(ts brought forward 1,155.780 1.155,780 TOTAL FUNDS CARRIED FORWARD I.090,8j 1,090.890 io. FIXED ASSET INVESTMEKrs Listed investments MARKET VALUE At l January 2023 Additions Disposals Increase in valuation 1,005,778 80.049 (67.621) 27,813 At 31 Decernber 2023 1,046,019 NET BOOK VALUE At 3 l December 2023 1,046,019 At 31 December 2022 1,005.778 The markd value of investment &ssets held at 31 December 2023 are comprised of the following: Investment assets held within the UK - £737.343 Page 8 continued...
CLOGHER DIOCESE SOCIAL FUND NOTES TO THE FtNANCIAL ST ATEMEwfs - coDIiDued for the Year EDded 31 DECEMBER 2023 io. FIXED ASSET INVESTMENTS- tontinued Investment assets held outside the UK - £308.676 Cost or valuation at 31 December 2023 is represent1 by: Listed investments Valuation in 2023 1.046.019 ii. mOvEMEr IN FUNDS Net movement in funds At 31.12.23 At 1.1.23 Unrestricted fund5 General fijnd 1,09).890 36269 l.A27,159 TOTAL FUNDS 1.090,890 36369 1,127,159 Nes movement in funds, includa in the above are as follows: Incoming Gains and losses Movement in funds expend UDrestrieted funds General fund 39,123 (30,667) 27,813 36269 TOTAL FUNDS 39,123 (30.667) 27.813 36269 Comparatives for movement in funds Net movement in fidS At 31.12.22 At 1.1.22 Unrestricled fuods Genernl fund .155,780 (64,890) 1.090,890 TOTAL FUNDS 1.155,780 (64,890) 1.090,890 Page 9 continued...
CL(iGHER DIOCESE SOCIAL FUND NOTES TO THE FINANCIAL STATEMENTS - tonti••ed for the Year Ellded 31 DECEMBER 2023 MOVEMENT FUNDS - Continued Compardtive net movement in nds. included in the above are as lollows: Incoming ResouTces Gains and losses Movement in funds Unrestricted furyds General fund 37.922 (33.W8) (68,814) (64,890) TOTAL FUNDS 37,922 (33,998) (68,814) {64.890) A current year 12 months and prior year l2 months cmbined w)siti<)n is as follows: Net movement in funds At 31.12.23 At 1.1.22 Unrestricted funds General fund 1.155.780 (28.621) 1,127,159 TOTAL FUNDS 1.155,780 (28,621) 1,127.159 A current year 12 months and prior year 12 months combined n& movement in funds. included in the above are as follows: Gains and losses Movement in funds Unrestricted funds General fund 77,373 (64,993) (41,001) (28.621) TOTAL FUNDS 77.373 (64.993) {41.001) (28,621) 12. RELATED PARTY DISCLOSURFS There were no related party transactions for the year ended 31 December 2023. Page 10
. CLOGHER DIOCESE SOCIAL FUND DETAILED STATEME[ OF FINANCIAL AcrivrtlES for ihe Year Ended 31 DECEMBER 2023 31.12.23 31.12.22 INCOME AND ENtMIWMENTS DonatlODS and legacies SubscrEPtions and Subribl1)g parishes RCB distributions 1.868 6J25 1.660 6,057 &193 7.717 IDvestment tncome Deposit account interest Investment income 819 30,111 145 30.060 30,930 30,205 Total iDeoming resources 39,123 37,922 EXPENDrruRE Investment managemeDt costs Investment management fee 6.772 7,032 Charitable activities Grants to institutions Grants to individuals 1s(KJ 21,465 1,500 24.535 22,965 26,035 Support costs Management Insurance 168 168 FiDallce Bank charges Accountancy 42 720 43 720 762 763 Totsl resources expended 30,667 33.998 Net income 8.456 3,924 This page does not form part of the statutory fmancial statements Page 11