Charity registration number: 104483 Upper Clonaneese Congregation of the Presbyterian Church in Ireland Annual Report and Financial Statements for the Year Ended 31 December 2023
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Contents (continued) Reference and Administrative Details Trnstees, Report 2to3 Statement of Trustees, Responsibilities Independent Examiner's Report 5t06 Statement of Financial Activities 7t08 Balance Sheet Notes to the Financial Statements Ioto 18
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Reference and Administrative Details Trustees Mr Noel Condy Mr Ralph Jones Rev Jackie Spence Mr Nigel Mcmullan Dr Evan Sharkey Mr Andrew Condy Mr Nigel Condy Mr Michael Jones Charity Registration Number 104483 Principal Office 4 Clontyclevin Road Dungannon Thomas Oliver and Associates Limited Certified Public Accountant l Moygashel Mills Park Dungannon Independent Examiner Page I
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Trustees, Report The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023. Objectivts and activities Objects and oims The Church provides benefit to its members and the general public by making known the Christian Gospel of the Lord Jesus Christ through th¢ advancemenl of religion. Public benefit The congregation meets for worship every Sunday and visitors are welcome to join. The Sacrament of the Lord's Supper is observed on several occasions during the year and all those who have been baptised and who have made a profession of faith in the Lord Jesus Christ are admitted to the Lord's Supper. The congregation holds regular bible study meeting5 and has a wide range of organisations including-" Sunday School -youth Club Creche Junior Christian Endeavour Young People's Christian Endeavour Young Adult's Christian Endeavour Senior Chrislian Endeavour PW (Presbyterian Women) Ladies Keep Fit Classes Mens's sports - Connect The trustees confirn] that they have complied with ihe requirernents of the Charities Act (Northem Ireland) 2008 to have due regard to the public benefit guidance published by the Charity Commission for Northern Ireland. The direct benefits which flow from the purposes of the Church include the gainino of an understanding in Christian beliefs as set out in the Bible and in the Church's subordinate standards (the Westminster Confession of Faith and the Shorter and Larger Catechisms) leading to spiritual and moral development and opportunities for response to Bible teaching. In turn, this framework leads to practical expressions of Christian beliefs and standards in the lo¢al community such as through the care of those in need (including the sick, disabled and bereaved). Generally the above benefits are delivered locally by congregations and their member5, or are facilitated through presbyteries or are organised and delivered centrally. Local delivery is facilitated by central re50urces in almost all cases. Public access is made known through the use of noticeboards, printed material, press advertisement. websites. and social media or in other ways. The benefits are demonstrated through regular evaluation of the services and infornial and ad-hoc feedback from members, their families. and members of the public. Page 2
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Trustees, Report (continued) The purpose does not lead to hami. The only private benefit flowing from our purpose is related to Ministers, Missionaries, Deaconesses, Irish Mission workers and Lay Agenls who receive benefits as a result of their holding office or employment. However, this is incidental and necessary in order to further our charitable purpose. There are no other private benefits. The beneficiaries of thi5 purpose are members, their families, other individuals that the Presbyterian Church in Ireland is in direct and indirect contact with, the community in which pastoral services are provided and other communities ihroutshout Northern Ireland, the Republic of Ireland. and worldwide wlii¢h benefit frorn our engatsement with and support for both Christian and other secular organisations, charities and individual members of the public. The Kirk Session has had regard to the Charity Commissions Publi¢ benefit requiTement statutory guidance. Strueture* governanee and management Financial instruments Objéttives andpolici The charity's activities expose it to a number of financial risks including credit risk. cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity's poli¢ies approved by the board of trustees, which provide written principles on th¢ use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes. Credit risk The charity's principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity's credit risk is primarily attributable lo its trade receivables. The amounts presented in the balance sheet are net of allowances for doubt1 receivables. An allowance for iTnpaim)ent is mad¢ where there is an identified loss event wliich, based on previous experience. is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The eharity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. Liquidity risk In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-terni and short-terni debt finance. Further details regarding liquidity risk ¢an be found in the Statement of accounting policies in the financial statements. The annual report was approved by the trustees of the ¢harity on 22 O¢tober 2024 and signed on its behalf by- RevJ Trustee Spence Dr Evan Sharkey Trustee Page 3
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Statement of Trustees, Responsibilities The trnstees are responsible for preparing the tniste¢s' report and the financial statements in accordance wilh the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the tNstees to prepa financial statements for each financial year which give a tThe and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements. the trustees are required to.. select suitable accounting policie5 and then apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern b&8is unless it is inappropriate to presume that the charity will continu¢ in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable ac¢uracy at any time th¢ financial position of the charity and enable them to ensure that the financial statements comply with the Charitie5 Act (Northern Ireland) 2008. the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The truste¢s are also responsible for safeguardino the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintene¢ and integrity of the corporate and financial inforniation included on th¢ charitable company's website. Legislation governing the prepardtion and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the trustees of the charity on 22 October 2024 and signed on its behalf by.. RevJ Trustee kie pence Dr Evan Sharkey Trustee Page 4
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Independent Examiner's Report to the trustees of Upper Clonaneese Congregation of the Presbyterian Church in Ireland I report to the trustees on my examination of the a¢¢ounts of Upper Clonaneese Congregation of the Pre$beri8D Church in Ireland for the year ended 31 December 2023. Responslbilities and basis of report As the charity's trustees of Upper Clonaneese Congregation of the Presbyterian Church in Ireland you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ireland) 2008. It is my responsibility to examine the accounts under se¢tion 65 of the Charities Act follow the procedures laid down in the general Directions given by the Commission under section 65{9){b) of the Charities Act stste whether particular matters have com¢ to my attention Basis of independent examiner's report I hav¢ examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charities Commission for Northern Ireland under section 65 {9}{b) of the Charities Act. My examination included the review of the accounting records kept by the charity and a comparison of the accounts presented M'ith those records. It also included consideration of any unusual items or disclosures in the aecounts. and seeking explanations from you as charity trustees concernino any such Jnatters. My role is to state whether any material matters have come to my attentions giving me ¢ause to believe-. l That accounting records were not kept in accordance with section 63 of the Charities Act 2 That the accounts do not accord with those accounting records 3 That the accounts do not comply with the accounting requirements of the Charities Act 4 That there is further information needed for a proper understanding of the accounts to be reached. Page 5
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Independent Examiner's Report to the trustees of Upper Clonaneese Congregation of the Presbyterian Church in Ireland (continued) Independent examiner's statement I have ¢ompleted my examination oJ]d have no concerns in respect of the matters (l) to (4) listed above and, in onnection with the following Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Jnas Oliver and Associates Limited Certified Public Accountaiit l Moygashel Mills Park Dungannon 22 October 2024 Page 6
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Statement of Financial Activities for the Year Ended 31 December 2023 Unrestricted funds Restricted funds Endowment funds Total 2023 Note Income and Endowments from: Donations and legacies Other trading activities Investment income Other income 67.941 142,279 3,162 531 174 2,663 357 8.574 Total income 77,175 80,034 157,209 Expenditure on: Charitable activities Other expenditure (1.254) (84,916) (1,254) (152,59?) {67,676} Total expenditure 186,170) (67,676) {153,846} Net lexpenditure)lincome Net movement in funds (8,995) 12.358 (8,995) 12.358 Reconciliation of funds Total funds brought forward (230,201) 72,632 27,445 {liO,124) Total funds Caled forward 16 (239,196) 84,990 27.445 {126,761) Total 2022 Unrestritted funds Restricted runds Endowtnent fuJJds Note Income and Endowments from: Donations and legacies Other trading activities Investmetlt income Other income 137,951 3,030 3,030 164 7,206 174 1.978 9,184 Total income 69,590 80,913 150,503 Expenditure on: Charitable activities Other expenditure (1.224) (74.11?) (1,224) 129.783) (55,671) Total expenditure {75,336) (55.671) (lil,007) Net (exp¢nditure)/income (5,746 25,242 19,496 Net movement in funds (5.746) 25.242 19.496 Reeonciliation of funds Total ndS brought forward {224,455) 47,390 27.445 {149,620) The notes on pages l O to 18 forni an integral part of these financial stalements. Pag¢ 7
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Statement of Financial Activities for the Year Ended 31 December 2023 (continued) Unrestricted funds Restricted funds Endoivment funds Total 2022 Note Total funds Carried fonvard 16 (230,201) 72,632 27,445 (lJO,124) All of ihe charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 16. The notes on pages 10 to 18 fonn an inlegral part of these financial statements. Page 8
Upper Clonaneese Congregation of the Presbyterian Church in Ireland (Registration number: 104483) Balance Sheet as at 31 December 2023 2023 2022 Note Fixed assets Tangible assels 13 27,976 27,520 Current #ssets Cash at bank and in hand 14 118.740 127,314 Creditors: Amounts falling due within one year Net eurrent liabilities 15 (273,477) (284.958) (154,737) {157.644) Net liabiliti&s {126,761) (130,124) Funds of the charity: Endowment funds 27.445 27,445 Restricted income funds Restricted funds 84,990 Unrestrieted ineomè funds Unrestricted funds (239.196) {2JO,201) Total funds 16 (126,761) (130,124) The financial statements on pages 7 to 18 were approved by the lrnstees, and authorised for issue on 22 October 2024 and signed on their behalf by: Rev Trustee e Spence Dr Evan Sharkey Trustee The notes on pages l O to 18 forni an integral part of these financial staternents. Page 9
Upper Clonaneese Congregation of the Presbyterian Church in Ire12nd Notes to the Financlal Statements for the Year Ended 31 December 2023 l Accounting policies Statement of eomplianee The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparation Upper Clonaneese Congregation of the Presbyterian Church in Ireland meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going concern The trustees consider that there are no material uncertainties about the eharity's ability to cot)tinu¢ as a going concern. Encome and endowments Voluntary income including donations, gifts. legacies and grants that provide core FJnding or are of a general nature is recognised when the charity has entitlement to Ihe income. it is probable that the income will be received and the amount can be measured with sutTi¢ient reliability. Donutions and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Grants recéivoble Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been mel. Where performance Conditions are attaclied to the grant and are yet to be met. the income is recognised as a liability and included on the balance sheet as deferred income to be released. Investthenf income Dividends are recognised once the dividend h&% been declared and notification ha5 been re¢¢ived of the dividend due. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it 15 probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where ¢osts cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Pttge 10
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Governance Costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements. including audit, strategic management and trustees meeting5 and reimbursed expenses. Taxation The charity is considered io pass the tests set out in Paragraph I S¢hedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I I of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Aa 1992, to the extent that such income or gains are applied exclusively to charitable putposes. Tsngible fixed assets Individual fixed assets Costing £250.00 or more are initially recorded at cost. Depreciation and amorti$ation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value. over their expected useful economic life as follow5- Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a knoNry] amount of cash and are subject to an insignificant risk of change in value. Borrowings Inlerest-bearing borrowings are initially recorded at fair value. net of iransaclion costs. Interest-bearing boryowings are subsequently carried at amortised cost, with the difference betw¢en the proceeds, net of transaction costs. and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in Int¢st payable and similar charges. Borrowings are classified as current liabilities unles5 the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Fund structure Unrestricted income ftinds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specifi¢ purpose5, the use of which is restricted to that area or purpose. Page 11
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Financial instrnments Classification Financial assets and financial liabilities are recognised when the charity becomes a party to the contrarfual provisions of the instrument. Finan¢ial liabilities and equity instruments are Classified according to the substance of the contractual arrangements entered into. An equity in5trnment is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recognltion andmeasurement All financial assets and liabilities ar¢ inilially measured at transaction price (includiftg transaction costs). except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is nomially the transaclion price excluding transaction costs), unless the Arrangement conslitutes a financing transaction. If an aryangement constitutes a finan¢ing transa¢lion, the financial asset or financial liabiliry is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instnJment. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis. or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are Settled. b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but nol all. significant risks and rewards of ownership. has transferred control of the assei to another party. Financial liabilities are derecognised only when the oblÉgation specified in the contract is discharged. cancelled or expire5. 2 Income from donations and legacies Unrestricted funds General Restricted funds Total funds Donations and legacies. Donations from individuals Gift aid reelaimed Grants, including capital grants. Grants from other charities 61.172 13,166 52.957 9.411 114,129 22,577 5,573 5,573 Total for 2023 74.338 67,941 142,279 Total for 2022 70.513 lJ7,951 Page 12
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 3 Income from other trading activities Restricted funds Total funds Events income. Other events income 3,162 3,162 Total for 2023 Total for 2022 3.030 4 Investment income Unrestricted funds General Restricted funds Total funds Interest receivable and similar income; Interest receivable on bank deposits Tot41 for 2023 174 i57 174 357 531 Total for 2022 174 164 338 5 Other income Unrestricted funds General Restricted funds Total funds Organisations other income Rental income 2,663 4,674 3,900 3,900 Total for 2023 2.663 8.574 Total for 2022 1,978 7,206 9,184 6 Expenditure on charitable activities Unrestricted fund$ General Total funds Note Governance cost5 1.254 1.254 Total for 2022 1,224 1.224 Page 13
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 7 Other expenditure Unrestricted funds General Restricted funds Total funds Note Staff costs Wages and sa12ries Social security Pension costs Other staff costs Depreciation, amortisation and other similar costs Other resources expended Total for 2023 26.546 3.413 6,372 5,720 26,546 6,372 5,720 42,865 56,845 99,710 84.916 67,676 152,592 Total for 2022 74,112 55,671 129,783 8 Analysis of governance snd support costs Governance eosts Unrestricted fund5 General Total funds Independent examiner fees Examinalion of the financial statements 1.254 1,254 Total for 2023 1.254 1.254 Total for 2022 1,224 1,224 9 Net ineomingloutgoing resource5 Net incoming resources for the year include: 2023 2022 Depre¢iation of fixed assets 8.573 Page 14
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Notes to the Financial Statements for the Year Ended 31 Deeember 2023 (continued) 10 Staff costs The aggregate payroll costs were as folloM's'. 2023 2022 Staff costs during the year were.. Wages and salaries Social security costs Pension costs Other staff ¢0sts 26,546 3,413 25.282 6,068 4,859 5,720 42,051 No employee received emoluments of more than £60,000 during the year 11 Independent examiner'$ remuneration 2023 2022 Examination of the financial statements 1.254 1,224 12 Taxation The charity is a registered charity and is therefore exempt from taxation. Page 15
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 13 Tangible fixed assets Furniture and equipment Total Cost At l January 2023 Additions 42,868 11,287 42.868 11,287 At 31 December 202a 54.155 54.155 Depreciation At l January 2023 Charge for the year At 31 December 202J 15.348 10,831 15.348 10.831 26.179 26,179 Net book value At 31 De¢ember 2023 27,976 At 31 December 2022 27,520 27,520 14 Cash and cash equivalents 2023 2022 Cash on hand Cash at bank 637 118,10) 612 126.702 118,740 1?7,314 15 Creditors: amounts falling due within one year 2023 2022 Bank loans 273,477 284,958 Page 16
Upper Clonaneese Congregation of the Presbyterian Chureh in Ireland Notes to the Financial Statements for the Year Ended 31 December 2023 (Continued) 16 Funds Balance #t 31 December 2023 Balance at I January 2023 Incoming resources Resources expended Unre$trieted funds General (230.201) 77,175 (86.170} (2J9.196) Restricted funds (67,676) 84.990 Endoivment fund5 Expendable 27,445 27,445 Total funds (130,124) 157,209 (153,846) (126,761) Balance at 31 DeeeTnb¢r Balance at I Janu2ry 2022 Incoming resources Resource5 expended 2022 Unrestricted funds General (224.455) 69,590 (75,336) (2JO,201 } Restricted funds 47.390 80.913 (55,671) 72,632 Endowment funds Expendable 27,445 27,445 Total funds {149,620) 150,503 {lJl.007) (130,124) Page 17
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 17 Analy515 of net assets between funds Unrestricted funds General Endowment funds Expendable Total funds at 31 Deeember 2023 Restricted funds Tangible fixed assets Currcnt assets Current liabilities 27,976 19,032 27,976 118,740 (273.477) 72.264 (273,477) 27,444 Total net assets (201,213) 47,008 27,444 1126,761) Unrestricted funds General Endowment funds Expendable Total funds At 31 December 2022 Restricted funds Tangible fixed assets Current assets Current liabilities 27,520 27,520 127.314 {284.958) 27.445 (284,958) Total net assels (223.820) 66,251 27,445 (lJO,124) 18 Analysis of net funds At31 December 2023 At l January 2023 Financing eash flows Cash at bank and in hand 127.314 (8,574) 118,740 Net debt 127,314 (8,574) 118,740 Page 18