PRS Patton Rainey I Stenson Limited CHARTEFtED ACCOUNTANTS & REGISTERED AUDITOFtS REGISTERED CHARITY NUMBER: NIC104016 REPORT OF THE TRUSTEES AND ur4AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR CLOGHER DIOCESE SOCIAL FUND Patton Rainey Stenson Limited Chartered Accountants 6 East Bridge Street Enniskillen Co. Fernianagh BT74 7BT CHARTERED ACCOUNTANTS IRELAND Chartered Tax Advisers Flegistered to eairy Oltt awlit wuLated for a rarnJ8 of in¥estrnent
CLOGHER DIOCESE SOCIAL FUND CONTF.NTS OF THE FINANCIAL STATEMENTS for the Year Endcd 31 DF.CF.MBER 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Aclivities Balance Sheet Note5 to the Finanei21 Statements 6 to 10 Detailed Statement of Financial Aetivities
CLOGHER DIOCESE SOCIAL FUND REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2024 The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The truste¢s have adopied the provisions of the Statement of Recommended Practice {SORP} applicable to Charities preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102). 0ECTIVEs AND ACTIVITIES Obje¢lives and aims The charity's purpose is for the Prevention or Telief of poverty of children where one or both parents or guardians have died and to parents or guardians of children who are suffering fmancial hardship who are parishione of the Church of Ireland living in Co Femianagh by the provision of financial grants primarily but not exclusively. The direct benefits that flow from the preveT]tion or relief of poverty and assisting those who are experiencing financial hardship is that the charity will help improve the quality of life of the beneficiaries. ACHIEVEMENT AND PERFORMANCE Fundraising a¢livilies The charity receives income from two principle Sour$. l. from interest received on capitsl inveslments and 2. from subscriptions, subscribing parishes and bequests. The organisation &ssesses applications and approves grants for those children who meet the purposes of the charity.The TTUStees of the fund would like lo make as many as possible in the Diocese aware of the existence of the Fund. Applications of the scheme are made in the first instance by the rector of the parish in which the applicant resides or the nwal dean during a vacancy. In the year ¢nd¢d 31 December 2024 the Charity supported 14 families of which 23 children received financial support. The charity also supported 4 families with a fmancial hardship grant. The Trustees have read and takes regard of the Charity Commission for Northern Ireland's guidance on Public Benefit and on Public Benefit Reporting. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing documenL a constitution and Was registered with the Charity Commission for Northern Ireland on 22 December 2015. The Managernent of the Charity is the responsil)ility of the Charity Truslees who have appointed an Honorary Secretary to assist them in the administration of the Charitgs aclivities. All the Truslees have served since their appointment, during the fmancial period ended 31 December 2024 and up to the date of approval of the financial statements. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number NIC104016 Principal address Cathedral Hall Halls lane Enniskillen Co. Fermanagh BT74 7DR Trustees Very Revd K R Hall Dean of Clogher Mrs J Cooper Mr G Eames Revd R West Rt Revd Dr l Ellis Bishop of Clogher Mr M Barton Revd L Faell The Ven. P Thompson Page I
CLOGHER DIOCF.SE SOCIAL FUND REPORT OF THE TRUSTEES for the Year FJDded 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Thomas S Patton FCA Patton Rainey St¢nson Limiied Chartered Accountanls 6 East Bridge Street Enniskillen Co. Fermanagh BT74 7BT Bankers lJlsler Bank Limited 16 Darling Street Enniskillen Co. Fernianagh BT74 7ER FINANCIAL REVIEW The total income for the year ended 31 December 2024 amounted 10 £40,922 (2023-£39,123) of which £31.313 (2023.£30,930) relaied to Investment income. Grants awarded to individuals during the year amounted to £32.500 (2023.£21,465). The Charity held £82,207 in Cash Reserves at the year end (2023:£81.140). This equates to approximately one and a half years of the Fund's charilable expenditure at Cuent Tales. The Trustees are reviewing the Reserves policy in the current year. Approved by order of the board of trustees on .......Ig . and signed on its behalf by". Rt Revd Dr l Ellis Bishop of Clogher - Trnstee Page 2
PRS Patton Rainey I Stenson Limited CHAR TERED ACCOUNTANTS & REGISTEFtED AIJOITOFIS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEFS OF CLOGHER DIOCESE SOCIAL FUND Independent examiner's report to the trustees olclogher Diocese Social Fund I report to the charity trustees on my examination of the accounts of Clogher Diocese Social Fund (the Trust) for the year ended 31 December 2024. Responsibilities #nd basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act,). I report in respect of my examination olthe Trust's accounts Carried out under Section 145 of ihe Act and in carrying out my examination I have followed all applicable Directions given by the Charity Cornmission under SectÉon 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I confinn that no materi31 matters have Come to my attention in cotmection with the examination giving me cause to believe that in any tnaterial respect- accounting records were not kept in respect of the Trust as required by Section 130 of the ACL or the accounts do not accord with those records" or the accounts do not comply with the applicable requirements ¢onceming the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a tnatter considered as part of an independent exaTnination. I have no concerns 2nd have come across no other matters in co[ectIon wIth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Thomas S Patton FCA The Institute of Chartered Accountants in Ireland Patton Rainey Stenson Limited Chartered Accountants 6 East Bridge Street Enniskillen Co. Fennanagh BT74 7BT Date.. 13-os-a4rtf CHARTERED ACCOUNTANTS IRELAND Chartered Tax Advisers RegIster to ¢arry oudit woth regulated fi¥a raw ol inve5tm8nt j81n08$
CLOGHER DIOCESE SOCIAL FUND STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 DECEMBER 2024 31.12.24 Tot21 funds 31.12.23 Total funds Unrestricied fund Restricied fund Notes INCOME AND ENDOWMENTS FROM Donations and legyacies 9,609 9,609 8,193 Investmenl income 31 J13 31J13 30.930 Total 40,922 40,922 39.123 EXPENDITURE ON Raising funds 7.064 7,064 6.772 Cbaritable activities Maintenance grants payble 32,500 32,500 22,965 Other 929 929 930 Total 40,493 40,493 30.667 Net gains on investments 3.569 3,569 27.813 NET INCOME 3,998 3,998 36,209 RECONCILIATION OF FUNDS Total funds broug?ht forward 1,127,159 1,127.159 1,090.890 TOTAL FUNDS CARKIED FORWARD 1,131,1$7 ,131,157 1,127,159 The notes forni part of these financial statements Page 4
CLOGHER DIOCESE SOCIAL FUND BALANCE SHEET 31 DF.CF.MBER 2024 31.12.24 Tolal funds 31.12.23 Totsl funds Unrestricted fund Restricted fund Noles FIXED ASSETS Investments 10 1.048,950 ,048,950 1.046,019 CURRENT ASSETS Cash al bank 82307 82,207 81,140 NET CURRENT ASSETS 82,207 82,207 81,140 TOTAL ASSETS LESS CURREIYT LIABILITIES 1,131,157 1,131,157 1,127,159 NET ASSETS 1,131.157 1,131,157 1,127,159 FUNDS Unrestricted funds 1,131,157 ,127.159 T()TAL FUNDS 1,131,157 ,127.159 The financial statements were approved by the Board of Truslees and authorised for issue ..11..fr.l.¥.f.............. and were signed on its behalf by: on Ri Revd Dr l Ellis Bishop of Clogher - Trustee The noles fonn part of these financial stslements Page 5
CLOGHER DIOCESE SOCIAL FUND NOTES TO THE FINANCIAL STATEMENTS f(Jr the Year Ended 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financial stalements The financial statements of the charity. which is a public benefit entity under FRS 102. have been prepared in accordance with the Charilies SORP {FRS 102) 'Accounting and Reporting by Charilies.. Statement of Recommended Praclice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeclive l Jaiiuary 2019),, Financial Reporting Siandard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Aa 2011. The financial slalements have been prepared under the historical cost convention, with the exception of inveslments which a included al market value. Income All income is recognised in the Statement of Financial Activities once the charity has entitlemenl to the funds, il is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable ihat a transfer of economic benefits will be required In settlement and the amount of ihe obligation can be measured reliably. Expenditure 15 accounted for on an accwals basis and has been Classified under headings that aggregate all cosi relaid to the category. Where costs cannot be directly attributed to particular headings ihey have been allocaled io aclivities on a basis consistent with the use of resources. Grants offered subject to condilions whsch have not been met at the year end date are noted as a commitment but not accrued as expenditure. Taxation The charity is exempt from tax on its charitsble aclivtties. Fund a¢¢oynting Unrestricled funds can be used in accordance with the charitable objectives at the discretion of the truslees. 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 explanation of the nature and purpose of each fund is included in the noles to the financial statements. Investments Investments are stated at cuent market value. DONATIONS AIYD LEGACIES 31.12.24 31.12.23 Subscriplions and subscribing parishes RCB distributions 2,748 6,861 1,868 6.325 9,609 8,193 Page 6 conlinued...
CLOC.HER DIOCESE SOCIAL FUND NOTF,S TO THE FINANCIAL STATEMENTS- conlinued for the Year Ended 31 DECEMBF.R 2024 INVESTMENT INCOME 31.12.24 31.12.23 Deposit account interest Investrnenl income 1,064 30,249 819 30,11 31 J13 30,930 RAISING FUNDS nvestment managemeDt costs 31.12.24 31.12.23 Investment management fee 7,064 6,772 CHARITABLE ACTIVITIES COSTS Grant funding of activilies (see note 6) Maintenance grdnts payble 32,500 GRANTS PAY ABLE 31.12.24 31.12.23 Maintenance grants payble 22,965 SUPPORT COSTS Management Finance Totals Other resources expended 168 761 929 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneraiion or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Truslees, expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. Page 7 continued...
CLOGHER DIOCESE SOCIAL FUND NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES unStrICted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 8.193 8,193 Inveslmenl income 30,930 30,930 Total 39,123 39.123 EXPENDITURE ON Raising funds 6.772 6.772 Charitable activities Mainlenance grants payble 22.965 22.965 her 930 930 Total 30.667 30,667 Net gains on investmenls 27.813 27,813 NET INCOME 36,269 36,269 RECONCILIATION OF FUNDS Total funds brought forward 1.090,890 1.090,890 TOTAL FUNDS CARRIF.D FORWARD 1.127.159 1,127,159 io. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l January 2024 Additions Disposals Increase in valuation 1,046,019 44,364 (45,002) 3,569 Ai 31 December 2024 ,048,950 NET BOOK VALUE Ai 31 December 2024 ,048,950 At 31 December 2023 1,046,019 The market value of investment assets held ai 31 December 2024 are comprised of the following: Investment assets held within the UK - £731,794 Page 8 continued...
CLOGHER DIOCESE SOCIAL FUND NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2024 io. FIXED ASSET INVESTMENTS- continued Investment assets held outside the UK - £317.156 Cost or valuation ai 31 December 2024 is represenied by= Lisled investments Valuation in 2024 1,048,950 MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unreslrieted funds Generdl fund ,127,159 3.998 1,131,157 TOTAL FUNDS ,127,159 3,998 1,131,157 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unreslric¢ed funds General fund 40.922 (40.493) 3.569 3,998 TOTAL FUNDS 40,922 (40.493) 3,569 3.998 Comparatives for movemenl in funds Nel movement in funds At 31.12.23 Atl.1.23 Unreslricled funds General fund 1.090.890 36.269 1.127,159 TOTAL FUNDS 1.090,890 36,269 1,127,159 Page 9 continued...
CLOGHER DIOCESE SOCIAL FUND NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2024 MOVEMENT IN FUNDS- continued Comparalive net movement in fimds. included in the above are as follows". Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 39,123 (30,667) 27,813 36,269 TOTAL FUNDS 39,123 (30,667) 27,813 36,269 A current year 12 monihs and prior year 12 months combined posilion is as follows.. Net movement in funds At 31.12.24 At 1.1.23 Unrestricicd funds General fund 1.090,890 40.267 1,131,157 TOTAL FUNDS 1.090.890 40,267 131,157 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestricled funds General fund 80,045 (71,160) 31,382 40,267 TOTAL FUNDS 80,045 (71.160) 31,382 40,267 12. RELATED PARTY DISCLOSURES There were no relaied party transactions for the year ended 31 Decernber 2024. Page 10
CLOGHER DIOCESE SOCIAL FUND DETAILED STATEMENT OF FIIYANCIAL ACTIVITIES for the Year Ended 31 DECEMBER 2024 31.12.24 31.12.23 INCOME AND ENDOWMENTS Donations and legacies Subscription5 and subscribing parishes RCB distributions 2,748 6,861 1,868 6,325 9,609 8,193 Investment income Deposil account interest Investment income 1,064 30,249 819 30,11 31 J13 30,930 Tolal incoming resour¢es 40,922 39,123 EXPENDITURE Investment management costs Investment management fee 7,064 6.772 Charitable activities Grants to institutions Grants to individuals 1,500 21,465 32,500 32,500 22.965 Support eosts Management Insurance 168 168 Finance Bank charges Accounian¢y 41 720 42 720 761 762 Total resources expended 40,493 30,667 Nel income 429 8,456 This page does noi fonn part of the statutory financial statements Pagell