Charity registration number- 10448J Upper Clonaneese Congregation of the Presbyterian Church in Ireland Annual Report and Financial Statements for the Year Ended 31 December 2024
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Contents (continued) Reference and Administrative Details Trustees, Report 2to3 Statement of Trustees, Responsibilities Independent Examinevs Report 5t06 Statement of FiDan¢ial A¢tivitie5 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 Sh2rkey 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 A¢countant l Moygashel Mills Park Dungannon Independent Exgminer 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 2024. Objective5 and 8Ctivitie5 Objects and ain The Church provides benefit to its members and the general public by making known the Christian Gospel of the Lord Jesus Christ through the advancement of religion. Public benefit The congreoation 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 ¢ongregation holdg regular bible study rneetings and has a wide range of organisations in¢luding:_ Sunday School -youth Club Cr¢¢he Junior Christian Endeavour Young People's Christian Endeavour Young Adult's Christian Endeavour Senior Christian Endeavour PW (Presbyterian Women) Ladies Keep Fit Classes Mens's sports Cottnect The tSteeS confirn] that they have complied with the requirements of the Charities Act (Northem Jreland) 2008 to have due regard to the public benefit guidance published by the Charity Commission for Nort]iern Ireland. The direct benefits which flow from the purposes of the Church include the gaining 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 local ¢ommunity such a5 throuuh the care of those in need (including the sick, disabled and bereaved). Generally the above benefits are delivered locally by congregations and their members, or are facilitated through presbyteries or are organised and delivered centrally. Local delivery is facilitated by central resources in almost all ase5. Piiblic acce55 is made known through the use of noticeboards, printed malerial, press advertisement, websites. and social media or in other ways. The benefits are demonstrated through regular evaluation of the services and infomial and ad-hoc feedback from member5, 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 harni. The only private benefit flowing from our purpose is related to Ministers, Missionaries, Dea¢ones5es, Irish Mission workers and Lay Agents 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 this 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 throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement 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 Public benefit requirement statutory guidance. Structure* governance aThd management Finaneial instruments Objeciives andpolicies The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of finaneial derivatives is governed by th¢ charity's policies approved by the board of trustees, which provide written principles on th¢ use of finan¢ial derivative5 to manage these risks. The charity does not U5¢ derivative financial instruments for speculative purposes. Credit risk The charity's principal financial &ssets are bank balances and cash, trade and other receivables. and investments. The charity's credit risk is primarily attributable to ils trade receivables. The amounts presented in the balance sheet are net of allowanees for doubtfisl receivables. An allowance for impairn]ent is made where ther¢ is an identified loss event which, based on previous experience, is evidence of & reduction in the recoverability of tli¢ cash flows. The Credit risk on liquid funds and derivative financial instruments is limited because the counterpartie5 are banks with high credit-ratings assigned by international ¢redit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. Liquidity risk En order to maintain liquidity to ¢nsure that sufficient funds are available for ongoing operations and fure developrnents, th¢ charity uses a mixture of long-terni and short-terni debt finance. Further detai15 regarding liquidity risk Can be found in the Statement of accounting policies in the financial statements. The annual report was approved by the trustees of the charity on 14 October 2025 and signed on its behalf by-. Rev Trustee ie Spenc¢ Dr Evan Sharkey Trustee Page 3
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Statement of Trustees, Responsibilities The trustees are responsible for preparing the tnistees, report and th¢ financial statements in accordance with the United Kingdom A¢¢ounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees lo prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the eharity for that period. In preparing these financial statements. the trustees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and prin¢iples in the Charities SORP. make judgem¢nts and estimates that are reasonable and pNdent' state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- and prePe the financial ststements on the going ¢on¢ern basis unless it is inappropriate to presume that the charity will Continue in business. The trustee5 are responsible for keeping proper accounting records that disclose with reasonable accura¢y at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008, the applicable Charilies (Accounts and Reports) Regulations. and the provisions of the constitution. The trustees are also responsible for Safeguardin the assets of ih¢ ¢harity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularilies. The trustees are responsible for the maint¢nan¢e and integrity of the corporate and financial information included on the eharit2ble ¢ompany's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the trustees of the charity on 14 October 2025 and signed on its behalf by: ie Spence Trustee 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 aceounts of Upper Clonaneese Congregation of the Presbyterian Church in Ireland for the year end¢d ) l December 2024. Responsibilities and b8515 of report As the charity's trustees of Upper Clonaneese Congregation of the Presbiterian Church in Ireland you are responsible for the preparxtion of the a¢wunts in accordance with the requirements of the Charities Act (Northern Ireland) 2008. It is my responsibility to examine the accounts under section 65 of the Charities Act follow the procedures laid down in the general Directions given by th¢ Commission under section 6519){b) of the Charities Act state whether particular matters have come Èo 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 catTied out in accordance with the general directions given by the Charitie5' Cotnmission 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 with those records. It also included consideration of any unusual items or disclosures in the accounts, and Seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attentions giving me cause to believe.-- l That accounting records were not kepl in accordance with section 63 of the Charilies A¢t 2 That the accounts do not accord WTth those a¢¢ounting records 3 That the aceounts do not comply with the accounting requirements of th¢ Charities Act 4 That there is further information needed for a proper understanding of the accounts lo be re&ched. 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 completed my examination and have no concerns in respect of the matters (l) to {4) listed above and, in ¢onne¢tion with the following Directions of the Charity Commission for Northern Ireland, I have found no matters that require draiving to your attention. Thomas Oliver and Associates Limited Certified Public Accountant l Moygashel Mills Park Dungannon 14 October 2025 Page 6
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Statement of Financial Activities for the Year Ended 31 December 2024 Unrestricted funds Restricted funds Endowment funds Totgl 2024 Note Ineome 2nd Endowments from: Donations and legacies Other trading activities Investment income Other income 76,129 73.975 150,104 3,157 614 10.914 173 1,914 441 9,000 Total income 78,216 164,789 Expenditure on: Charitsble activities Other expenditure (1.290) (85,)J4) (1.290) (l J4,469) (49.135) Total expenditure (86,624) (49,135) (lJ5.759) Net (expenditureyincome {8,408) 37,438 29,030 Net movement in funds (8,408) 37.438 Reeonciliation of funds Total funds brought forward {239,196) 84,990 27.445 (126,761) Total funds caled forward 16 (247,604) 122,428 RestrRcted funds 27,445 Endowrnent funds (97,731) Total 2023 Unrestricted funds Iyote Income and Endowments from: Donation5 and legacies Other trading activities Investment income Other income 67,941 14? 279 3,162 531 11,237 174 2,663 8,574 Total income 77,175 80,034 157,209 Expenditure on: Charitable activities Other expenditure (1.254) (84,916) (1,254) (152.592) (67,676) Total expenditure 186,170) (67,676) (153,846) Net lexpenditure)/in¢ome (8.995) Net movernent in fvnds (8.995) Reconcili2tion of funds Total fvnds brought fonvard (230,201 } 27,445 {130,124) The notes on pages 10 to 18 form an integral part of these financial ststements. Page 7
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Statement of Financlal Activities for the Year Ended 31 December 2024 (continued) Unrestricted funds Restricted funds Endowment funds Total 2023 Note Total funds carried forward 16 (239,1961 84,990 27,445 (126,761) All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 16. The notes on pages l O to 18 fonn an integral 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 2024 2024 2023 Note Fixed assets Tangible assets 13 23.148 ?7,976 Current assets Cash at bank and in hand 14 105.093 118.740 Creditors: Amounts falling due within one year Net eurrent liabilities 15 (225,972) (273.477) {120,879) {154,737) Net liabilitie5 {97,731) {126,761) Funds of the eh2rity: Endowment funds 27.445 27.445 Restricted ineome funds Restricted funds 122.428 84.990 Unrestritted ineoTne funds Unrestricted funds 247.604) {2J9.196) Total funds 16 {97,7J l ) {126,761) The financial statements on pages 7 to 18 were approved by the trustees. and authorised for issue on 14 October 2025 and signed on their behalf by.. Rev Trustee ie Spence Dr Evan Sharkey Trustee The notes on pages 10 to 18 forni an integral part of these financial statements. Page 9
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Notes to the Financial Statements for the Year Ended 31 December 2024 l Accounting policies Statement of compliance The financial statements have been prepared in accordance witli the second edition of the Charities Statement of Rewrnmended Practice issued in October 2019, the Finarkcial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of prep2ration 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 ai historical c05t 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 charity's ability to continue as a going concern. Income and eDdowment$ Voluntary income including donations, gifts, legacies and grants ihat provide core funding or are of a general nature is recognised when the charity has entitletnent to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. Donations and legacies Donations and legacies are recognised on a receivable basis when receipt Is probable and the amount can be reliably measured. Grants receivable Grdnts are recognised when the ¢h2rity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met. the income is recognised as liability and included on the balance 5h¢et as deferred income lo be released. Investment income Dividends are recognised once the dividend has been declared and notificaiion has been received of the dividend due. Expenditure All expenditure is re¢ogni5¢d onc¢ there is a legal or constructive obligation to Ihat expenditrjre. it is 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 costs 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 Gharges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff Costs. Page 10
Upper Clonaneese Congregation of the Presbyterian Chureh in Ireland Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) Governance costs These include the eosts attributable to the charity's ¢ompliance with constitutional and statutory requirements, including audit. strategic management and trustees meeting5 and reimbursed expenses. Taxation The ¢harity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finan¢e Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the eharity is potentially exempt from taxation in respect of income or capital gains received ivithin categories covered by Chapter 3 Part I I of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extenl that such income or gains are applied exclusively to charitable purposes. Tangible fixed 255ets Individual fixed assets costing £250.00 or more are initially recorded at ¢ost. Depreciation and #Tnortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual valve. over their expected useful e¢onomi¢ life as follows.. Cash and c¥sh equivalents C8sh and cash equivalents ¢omprise cash on hand and call deposits, and other short-terni highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Borrowings Interest-bearing borrowings are initially recorded at fair value. net of transaction costs. Interest-bearing borrowings are subsequently Caled at amortised cost, with the difference b¢tween tlie proceeds. net of transaction ¢osts, 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 inGluded in interesl payable and similar charges. BotTowings are Classified as Cuent liabilities unless 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 funds are general funds that are available for use at the tThstees discretion in fvrtherance of the obje¢tlVe5 of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that arca or purpose. Page 11
Upper Clonaneese Congregation of the Presbyterian Churcb in Ireland Notes to the Financial StatemeDts for the Year Ended 31 December 2024 (continued) Financial instruments Clofsifieallon Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provision5 of the instrument. Financial liabilities and equity instruments are classified according to the substance of the ¢ontractual arrangements entered into. An equity instrument 15 any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recognition and measurement All financial assets and liabilities are initially measured at transaction priG¢ (including transaction costs). except for those financial assets classified as at fair value throurwh profit or loss, which are initially measured at fair value (which is nom)ally the transaction price excluding transaction costs), unless the arrangement conslitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrumenl. Financial assets and liabilitie5 are only offset in the statement of finaneial position when, and only ivhen there exists a legally enforceable right to set off the recognised amounts and the charity intend5 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 eontractual 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 reward5 of ownership of the financial asset, or c) the charity, despite having retained some, but nol all, significanl risks and rewards of ONerShip. has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligatiOF] specified in the contract is discharged. Cancelled or expires. 2 Income from donations and legacies Unrestricted funds General Restricted fund5 Total funds Donation5 and legacies,. Donations from individuals Gift aid reclaimed Grants, in¢luding capital grants. Grants from other charities 62.720 13.409 120,118 22,590 9,181 Total for 2024 76,129 73,975 150,104 Total for 2023 67,941 142,279 Page 12
Upper Clonaneese Congregation of the Presbyterian Church in IreIand Notes to the Financi21 Statements for the Year Ended 31 December 2024 (continued) 3 Income from other trading activities Restrieted funds Total funds Events income. Other events income 3,157 3,157 Total for 2024 3,157 3,157 Total for 2023 3,162 3,162 4 Investment income Unrestricted funds General Restricted funds Total funds Interest receivable and similar income. Interest receivable on bank deposits 173 441 614 Total for 2024 173 441 614 Total for 2023 174 357 531 5 Other income UDr¢stricted funds General Restricted funds Total funds Organisations other income Rental income 1.914 6.100 2,900 8,014 2.900 Total for 2024 1,914 9,000 10,914 Total for 2023 2,663 8,574 6 Expenditure on charitable activities Unrestricted funds General Total funds INote Governance costs 1,290 1.290 Total for 2023 1,254 1.254 Page 13
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 7 Other expenditure Unrestrieted funds GeDer*l Restrieted funds Total funds Note Staff costs Wages and Salaries Social security Pension costs Other staff costs Depreciation, amortisation and other similar Costs Other resources expended 27,873 3,572 6,690 5,724 27,873 3.572 6,690 5,724 11.496 79,114 11,496 41.475 Total for 2024 85,334 49,135 134,469 Total for 2023 84,916 67,676 152,592 8 Analysis of governance and support eosts Governance eosts Unrestricted funds General Total funds Independent examiner fees Examination of the financial statements 1,290 1,290 Total for 2024 1,290 1.290 Total for 2023 1,254 1.254 9 Iyet incomingloutgoing re50ur¢e$ Net incoming resources for the year include.. 2024 2023 Depreciation of fixed assets 1,496 Page 14
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 10 Staff costs The aggregate payroll costs were as follow5- 2024 2023 Staff costs during the year weTe: Wages and salaries Social security costs Pension costs Other staff costs 26,546 3.572 6,690 5,724 5,720 42.051 No employee received emoluments of more than £60.000 during the year 11 Independent examiner's remuneration 2024 2023 Examination of the financial statemenis 1,290 1,254 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 2024 (continued) 13 Tangible fixed gssets Furniture and equipment Total Cost At l January 2024 Additions 54,155 6,668 54.155 6,668 At 31 December 2024 60,823 60,823 Depreciation At l January 2024 Charge for the year 26,179 11.496 26.179 11.496 At 31 December 2024 37,675 37,675 Net book value At 31 December 2024 2i.148 23,148 At 31 December 202) 27,976 27.976 14 Cash and cash equivalents 2024 2023 Cash on hand Cash at bank 1,018 104,075 637 118,IOJ 105.09J 118,740 15 Creditors: amounts falling due within one year 2024 2023 Bank loans 225,972 273,477 Page 16
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 16 Funds Balance at 31 December 2024 Balance at I January 2024 Incoming resources Resources expended Unrestrieted funds General (239,196) 78,216 (86.624) (247.604) Restricted funds 84,990 86,573 149,135) 122,428 Endowment funds Expendable 27,445 27,445 Total funds {126.761) 164.789 Balance at 31 December 2023 Balgnce at I January 2023 Incoming resources Resources expended Unrestricted funds General (230,201) 77.175 (86,170) (2J9,196) Restricted funds (67,676) 84,990 Endowment funds Expendable 27.445 ?7.445 Total funds (130,124) 157,209 (153,846) {126,761) Page 17
Upper Clonaneese Congregation of the Presbyterian Church in Ireland Notes to the Financial Statements for the Year Ended 31 December 2024 (Continued) 17 Analysis of net a55ets between fund5 Unrestrieted funds GeJJeral Endowment funds Expendable Total funds at 31 December 2024 Restricted funds Tangible fixed assets Current assets Current liabilities 23.148 60,163 23,148 105,09J (225,97?) 17,485 {?25,972) 27,445 Total net assets 1208,487) 27.445 (97.7J l ) Unrestricted funds Genergl Endowment funds Expendable Total funds at 31 December 2023 Restricted funds Tantsible fixed assets Current assets Current liabilities 27,976 27,976 118,740 (273,477) 72,264 (273,477) 27.444 Total net assels 1201,213) 47,008 27,444 (126,761) 18 Analysis of net fund8 At31 Deeember At l January 2024 Financing cash flows 2024 Cash at bank and in hand 118,740 (13.647) 105.093 Net debt 118.740 (13,647) 105,093 Page 18