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 f￿anCIal 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 ag￿egate 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