Newmills Presbyterian (Iveagh) Trustees, report and financlal statements for the year ended 31 December 2024 Charity number NIC104921
Newmills Presbyterian Uveagh) Contents Page Independent Examilleds Report ststement of Financial Actsvities Balance sheet Notes to the financial statements
Independent examlner's report to the members of NeTrTmills Pi"esbyterian (Iveagh) I report on the accounts of the for the for the Ye ended 31 December 2024, which tue set out on the pages following this report, Respectlve responslbilities of alld examiner As the charitys tThte¢s yoii are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (ND 2008. It is my responsibility to., examine the accounts linder section 65 of the Charities Act (Northaff Ireland) 2008,, follow the procedures laid down in the general Directions given by the Charity Cotnmission foi Northern Ireland imder section 65(9)(b) of the Charities Act. and state whether particular matters have cojne to my attentloll. Basls of independent eiaminer's report I have cxamined your charity accounts as required under section 65 of the Charities Act and my examination was Caled out in accordance with the general Directkons given by the Charity Conm]ission for Northern Ireland under section 65(9)(b) of the Charities Act. The examinatton included a review of the acColting records kept by the charity and & comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seel(ing explanations from you as charity trustees concerning any such matters. My role is to state whether any material matter8 have come to my attention giving me cause to b¢lReve: l. That accounting rccoTds 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 prillciples of the Charities Statement of Recommended Practice applicable to charities prepaiing their accounts in ÉWCOI'dance with the Financial Reporting Standard applicable in the UIC and Republic of Ireland 4. That there is fLllther illforniation needed for a prop¢r ulld¢r8tsllding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect ofthe lltters (l) to (4) listed above and, in connection with following the Dircdions of the Charity Conunission for Northern Ireland, I have found no malters that require drawing to your attention, Richard Mcclay FCA For and on behalf of MTS Chartered Accountants l Lanyon Quay Belfast BTI 3LG 11 June 2025 Page I
Neivmills Presbyterian (Iyeagh) Statement of Flnallcial Activities (Including Income and Expenditure Account) for the year ended 31 December 2024 UJ)restricted Restricted Endowment YeaT Fullds Funds Funds Total Year Total 2024 2024 2024 2024 2023 Income from: Donations and legacies Charitabl¢ activities Investment income Other incorne Notes 255,618 98,061 34,193 353,679 34,193 855 701 349,564 22,690 1,039 2,959 573 600 277 101 Total income 256,791 132,360 277 389,428 376,252 Expenditure on: Charitable activities Costs of governance (187,262) (726) (187,988) (119,323) (306,585) (726) (274,204) (690) Total expenditure (119,323) (307,311) (274,894) Net income before trallsfers 68,803 13,037 277 82,117 101,358 Transfer between funds (8,928) 8,928 Net incomfing resources before gahis on property valuation 59,875 21,965 277 82,117 101,358 Fund balances broughi forward Fund balances carried forw&rd 260,518 110,513 9,200 380,231 278,873 320,393 132,478 9,477 462,348 380,231 All of the above results are derived fiom contilluing activities.All gains and losses recognised in the year are included above. The notes on page 4 form &n Integral part of these financial statements. Page 2
Neivmills Presbyterian (Iveagh) Balance sheet as at 31 December 2024 2024 2023 Notes Current assets Cash at bank and in hand 462,348 380,231 462,348 380,231 Net Current assets 462,348 380,231 Net assets 462,348 380,231 Capital and reserves Total funds 462,348 380,231 Total funds 462,348 380,231 The fanCIal statements were approved by the Trustees on I l June 2025 and sined and approved for issue on its behalf by Trustee The notes on page 4 form an integral part of these financial statements. Page 3
Newmllls Presbyterian (Iveagh) Notes to the financlal statemellts for the year ended 31 December 2024 Accounting pojicies 1.1. Basis of preparation The charity constitlltes a public benefit entity as defined by FRS 102. The financial statem¢nts have been pr¢par¢d under the higtorical cost convention with items recogniscd at cost or transaction value iinless otherwise stated in the relevant notes to these accounts, The finanrial statements have been prepared in accordance with the Statement of Recommended Practice,. Accounting and reporting by Charities preparing their accoullts in accordflnce with the Financial rorting stalldd applicable in the UII and Republic of Ireland (FRS102) issued on 16 July 2014 and Finaucial reporting Standard applicablc in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act ( Nortbern Irelalld) 2008. The financi&l statements are PiEpar¢d on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are Preped in steiling which is the functional currency of the charity. The significant accounting policies applied in the prepatIOn of these fRnancial statements are set out below. These policies have been con8lStently app]ied to all year8 pres¢nted unless otberwise stated. 1.2. Fund Accountlng Ullrestricted fidS are availablc for use at the discretion of the twstees in furtherance of the general objectives oEth¢ ChEIty. Restricled funds are SLibj¢cted to rcstrictlons on their expenditure imposed by the donor or tljrough the ternis of an appeal 1.3. Resources Incoming resollrees All incoming resources are included in the SOFA when the charity is legvAlly entttled to the income and the amount can be quantified with reasonable accuracy. Donations included as income when they are received. No aJnount8 are incliided in the financial statements for services donated by volunteers. Resources expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Wher¢ costs cannot bc dire¢tly attributed to particular h¢adings thcy have been allocated to activities on a basis consistent with use of the resourc¢s. Church property The cburch currently owng buildings valued for insurance purposes at £5,849,190. Page 4