Newmllls Presbyterlan (Iveagh) Trustees, report and financlal statements for the year ended 31 December 2022 Charity number NIC104921
Newmllls Presbyterian (Iveagh) Contents Page Independent Exarninegs Report Statement of Financial Activities Balance sheet Notes to the fmancial statements
Independent examiner'5 report to the members of Newmills Presbyterian (Iveagh) I report on the accounts of the for the for the year ended 31 December 20?2, which are set out on the pages following this report. Respective responsibiIities of and examiner As th¢ charity's trustees you are rcsponsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Nl) 2008. 11 is my responsibility to- examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008. follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act- and state whether particular matters have come to my attention. Basis of independent examiner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with thc general Directions given by the Charity Commission for Northem Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes onsideration of any unusual iteTns or disc105ures in the accounts. and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any tnaterial matters have come to my attention givtng me cause to believe: That accounting records were not kept in accordance with section 386 of the Companies Act 2006 2. That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities pr¢paring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland 4. That there is furthei information needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect of the matters { l } to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Richard Mcclay FCA For and on behalf of MTS l Lanyon Quay Belfast BTI 3LG 16 March 2023 Page I
Newmills Presbyterian (Iveagh) Statement of Financlal Activities (Including Summary Income and Expenditure Account) for the year ended 31 December 2022 Unrestrlcted Restricted Endowment YeAr Funds Funds Funds Total Yeir Total 2022 2022 2022 2022 2021 Income from: Donations and legacies Charitable activities Tnvestment mcome Other income Notes 208,945 19,510 619 6,702 23,984 232,929 19,510 692 6,793 210,765 4,296 489 7,489 73 91 Total income 235,776 24,075 73 259,924 223,039 Expellditure on: Charitable activities Costs of governance (190,111) (690) (21,022) (211,133) (690) (170,841) (878) (171,719) Total eipenditure (190,801) (21,022) (211,823) Net income before transfers 44,975 3,053 73 48,101 51,320 Transfer between funds (6,364) 6,364 Net incoming resources before gains on property valuation 38,611 9,417 73 48,101 51,320 Fund b<ilanc¢s brought fonvard Fund balances carried fonvard 3,488,341 65,529 9,203 3,563,073 3,511,753 3,526,952 74,946 9,276 3,611,174 3,563,073 All of the above results are derived from Colltinuing activiti¢s.All gains and losses recognised in the year are included above. The notes on pages 4 to 5 form an integral part of these financial statements. Page 2
Newmllls Presbyterian (Iveagh) Balance sheet as at 31 December 2022 2022 2021 Notes Fixed assets Tangible assets 3,332,301 3,332,301 Current assets Cash at bank and in hand 278,873 230,772 278,873 230,772 Net current fdssets 278,873 230,772 Net assets 3,611,174 3,563,073 Capital and reserves Total fimds 3,611,174 3,563,073 Total funds 3,611,174 3,563,073 Th¢ financial statements were approved by the Trustees otl 16 March 2023 and signed and approved for issue on its behalf by Trnstee The notes on Pydges 4 to 5 form an fintegral part of these flnanc*al statements. Page 3
Newmills Presbyterian (Iveagh) Notes to the flnancial statements for the year ended 31 December 2022 Accounting policles 1.1. Basis of preparation The charity constitutes a piiblic benefit entity as defined by FRS 102. The financial statcmcnts have been prepared under the historical cost convention with items recognised at cost or transaction value imless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Ststement of Recommended Practice: Accounting and reporting by Charities pieparing their accounts in accordance with the Financial reporting Standard applicable in the UK and Republic of Ireland (FRS102) issu¢d on 16 July 2014 and Financial reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act ( Northern Ireland) 2008. The financial statements are prepared on & going concern basis under the historlcal cost convention, modified to include ¢ertain items at fair value. The fLnancial statements are prepared in sterling which is the fiu]ctional currency of the charity, The significant accounting policies applied in the PTep&ratioll of these financial statements arc set out below. These polici¢s have been consistently applied to all years presented unless othenvise stated. Tangible fixed assets and depreciation Depreciation is provided at rates calculated to write off the cost less residual value of each asset ovei its expected useful life, as follows: Freehold properties Not depreciated Fund Accountlng Unrestricted funds are avaiIabl¢ for use at the discretion of the trustees in furtherance of the general objectives of the chltY. Restricted funds are subjected to restrictlolls on thcir cxpcnditure imposed by the dollor or through the terms of an appeal 1.4. Resources Incomlng resources All incoming resources are included in the SOFA when the charity is legally entitled to the incone and the &nount can b¢ quantified with reasonable accuracy. Donations are included as income when they are received. No amounts are included in the financial statements for services donated by volunteers. Resources expended All ¢xpendithre is accounted for on an acc8 basis and has been classified under headings that aggregate all costs relating to the category. Where costs cannot be directly attribtLted to particular headings they have been allocated to activities on a basis consistent with use of the resources. Page 4
NeTrvmills Presbyterian (Iveagh) Notes to the financial statements for the year ended 31 December 2022 continued 2. Income from charfitable actlvltfies Total 2022 Total 2021 Donations and Legacies Gift Aid 194,923 38,006 178,737 32,028 232,929 210,765 Total 2022 Total 2021 Total resources expended Costs directly allocated to charitable activities Congregational Running Exp¢nses Donations to Missions and Charities General Assembly Assessments Ministy & Siipport Staff Costs 70,556 36,503 84,201 19,873 36,657 40,034 82,286 11,864 211,133 170,841 Tangible fixed assets Freehold property Total Cost At l January 2022 At 31 December 2022 3,332,301 3,332,301 3,332,301 3,332,301 Net book values At 31 December 2022 3,332,301 3,332,301 At 31 D¢c¢mb¢T 2021 3,332,301 3,332,301 Page 5