Newmills Presbyterian (Iveagh) Trustees, report and financlal statements for the year ended 31 December 2023 Charfjty number NIC104921
Newmills Presbyterian (Iveagh) Contents Page Indcpcndent Examiner's Report Statemcnt of Financial Activities Balance sheet Notes to thc financial statements
Independent examlner's report to the members of NewmAll¥ Presbyterlan (Iveagh) I report on the accounts of the for the for the year ended 31 December 2023, which are set out on the pages following this report. Respective responsibilities of and examiner As the charity's trnstees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Nl) 2008. It is my responsibility to: examine the accounts under scction 65 of the Charities Act (Northern Ireland) 2008. follow the procedures laid down in the general Directions giv¢n by the Charity Commission for Northem Ircland undcr scction 65(9)(b) of the Charilies Act. and state whether particular matters have come to my attention. Basfis of Independent examiner's report I have examined your charity accounts as requircd under section 65 of the Charitics Act and my examination was carried out in dccordancc with the gcneral Dirextions given by the Charity Commission for Northcm Ircland undcr section 65(9)(b) of th¢ Charitics Act. Thc examination included a revicw of thc accounting records kept by thc charity and a comparison of the accounts prcscnted with those rcLords. It also includes considcration of any unusual itcms or disclosures in thc accounts, and secking explanations from you as charity trustees conccrning any such mattcrs. My role is to statc whcthcr any material matters hiive come to my attcntion givin&F mc causc to belicve.. That accounting records were not kcpt in accordancc with section 386 of th¢ Cumpanies Act 2006 2. That the acLount8 do not accord with those aLcounting records That ihc accounts do not comply with thc acLounting requircments of section 396 of thc Companies Act 2006 and with thc mcthods and principlcs of thc Charities Statement of Rccommendcd Practice applicablc to charitics prcparing their <iccounts in accordance with thc Financial Rcporting Standard appliLable in th¢ UK and Republic of Ireland 4. That there is furthcr inforn]ation nccdcd for <1 proper undcrstanding of the accounts to be rcached. Independent examlner's statement I have completed my examination and have no concerns in resp¢¢t of the mattcrs ( l ) to (4) listed above and, in onnoction with following the Dircctions of the Charity Commission for Northern Ireland, I have found no matters that requi drawing to your attention. Richard Mcclay FCA For and on behalf of MTS Chartered Accountants l Lanyon Quay Belfast BTI 3LG 24 May 2024 Page I
Newmills Presbyterian (Iveagh) Stateiiieiit of Fiiiaii¢lal ALIAVAties (Includlng Summary Income and Expenditure Account) for the year ended 31 December 2023 Unrestricted Restricted Endowment Year Funds Funds Funds Total Year Total 2023 2023 2023 2023 2022 Income from: Donations and legacies Charitabl¢ activities Invcstmcnt income Othcr income Notes 284,4C)O 22,690 775 2,860 65,074 34(),564 22,690 1,039 2,959 232,929 19,510 692 6,793 264 99 Total Income 310,815 65,173 264 376,252 259,924 Expendlture on: Charitablc activities Costs of &Fovernance (223,045) (690) (50,819) (340) (274,204) (690) (340) (274,894) (211,133) (690) (211,823) Total expendlture (223,735) (50,819) Net income before transfers 87,080 14,354 (76) 101,358 48,101 Transfer between fund (4,904) 4,904 Net Incoming resources before gains on property valuation 82,176 19,258 (76) 101,358 48,101 Fund balances brought forward 3,526,952 74,946 9,276 3,611,174 3,563,073 Fund balances carried forivard 3,609,128 94,204 9,200 3,712,532 3,611,174 All of the above results are dciived from continuing activities.All gains and losses recogniscd in the year are included above. The notes on pages 4 to 5 form an integral part of these flnancial statements. Page 2
Newmills Presbyterian (Iveagh) Balance sheet as at 31 December 2023 2023 2022 Notes Fixed assets TangAble assets 3,332,301 3,332,301 Current assets Cash at bank in hand 380,231 278,873 380,231 278,873 Net current Assets 380,231 278,873 Net assets 3,712,532 3,611,174 Capltal and reserves Total funds 3.712,532 3,611,174 Total funds 3,712.532 3,611,174 The fanCIal statements were approved by the Trustees on 24 May 2024 and signed and approved for issuc on its behalf by The notes on Pvéges 4 to 5 form an Integral part of these flnancial statements. Page 3
Newmills Presbyterian (Iveagh) Nvley lo Ihe fin#nclal statements for the year ended 31 December 2023 Accounting policies 1.1. Basis of preparation The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction valuc unless otherwise staicd in the relevant notes to these accounts. The financial statements have bccn preparcd in accordancc with thc Statemcnt of Recommcnded Practice.. Accounting and reporting by Charities prcparing their account% in accordance with thc Financial reporting Standard applicablc in thc UK and Republic of Ircland (FRS102) issued on 16 July 2014 and Financial reporting Standard appliLablc in thc United Kingdom and Rcpublic of Ircland (FRS 102) and Churitie.8 Act ( Northern Ircland) 2008, The financial statements arc prepared on a going concern basis undcr thc hi.storical co.qt convention, modified tv includc certain itemb dt fair valuc. Thc flnancial statemcnts. are prepared in stcrlin¥ which is thc functional currcncy of the charity. The significant accounting policics applied in thc prcparation of thcse financial staterncnts are set out bclow. These policics havc been consistently applied to all years prcscnted unlcss otherwise Sit£lted. 1.2. Tangible fixed assets and depreciation Deprccidtion is provided Lit rates calculatcd to write off thc cost Icss rcbidual value of each asset over its expected useful lifc, as follows: Frcchold properties Not dcpreciatcd 1.3. Fund Accounting Unrestricted funds arc availablc for use at thc discrction of thc trustccs in furtherdnce of thc gcncral objectiveb of thc charity. Rcstrictcd funds are subjcctcd to restrictions on their expenditurc imposed by th¢ donor or through th¢ tcrn]s of an appciil 1.4. Resource$ In¢oming resources All incoming resources are included in the SOFA when thc charity is legally Cntitled to the income and thc amount can be quantified with reasonable accuracy. Donations are includcd as income when they are receivcd. No amounts are included in the financial statements for serviceb donated by voluntcers. Resources expended All cxpcnditure is accounted for on an accruals basis and has been classified under headings that agegate all costs relating to the category. Where costs cannot be directly attributcd to particular headings they have been allocated to activities on a basis consistent with use of the resources. Page 4
Newmills Presbyterian (Iveagh) Nutes to the flnancial statements for the year ended 31 December 2023 . continued 2. Income from charitable activities Total 2023 Total 2022 Donations and Lcgacies Gift Aid 2022 Split Gift Aid 2023 Split 270,155 31,335 48,074 194,923 38,006 349,564 232,929 Total 2023 Total 2022 Total resources expended Costs directly Ydllocated to chAritable activities Congregational Running Expenses Donations to Missions and Charitics General Asscmbly Asscssments Ministry & Support Staff Costs 80,822 73,419 100,892 19,071 70,556 36,503 84,201 19,873 274,204 211,133 Tanglble fixed assets Freehold property Total Co$t At l January 2023 3,332,301 3,332,301 3,332,301 3,332,301 At 31 December 2023 Net book values At 31 December 2023 3,332,301 3,332,301 3,332,301 3,332,301 At 3 l December 2022 Page 5