The Irish MethoJi5t Mini5tew5 Housin
Limited
COMMITfEE ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2023
Th8 m8mbers of the mmmitte8 presenl their rerKJrt and financi81 statements ofthe cornpanyforthe year ended
30 Septernber 2023.
Legal Status & Go¥eman¢e Arrangements
The Irish Methodist Mini5ter5 Housing Society Limited is a company lirnited by guarantee aThJ is registered
as a charity ￿ryth the Her Majestys Revenue and Customs (Reference NumberXN457941.
The society is governe(J by its Memorandum and Artides ofAsswabon and It a registered charity regulated by The
Charity Commission for Northern Ireland {Register￿j Chty number NIC1057271. and the Fina￿￿1 Conduct Authonty.
It is not for profit and Is lirntted by guarantee.
Th8 Board of Directors meet twce a year wlh ongoing. less lornal. c*xnrnuniGgb'ons throughout th8 year The Board
is further suptM)rted by sutxommittees indu¢ing the Executive Committee and the Applications Committee which meet
as and wvhen ￿quire{l. The ExecLrtive Committee is ￿$￿nSible f(* rewwng all rdioes and pr£￿edu￿ and making
report5 and recomrnendations to the Board of DireLtor5.
Directors are drawn frorn a wide range of backgrounds aw¥J Skill sets. and are reapwinted on a three-year rotation ba515
Objectives of The Irish Methodist Ministers Housing sO¢￿ty Limite(I
The company was established in orderto provide housirmj for retired Methodist ministers and treir wi¢Jows,
of lirnited mean5. Our porttolio currently con515ts of 31 propertie5 28 of are occupied by rninisters and th￿[ fatnilie5,
three propertses are lel to others in the general public populatron.
Private tenants are thoroughly assessed for rdiabilily and affordability.
Activities During 2022123
The company continued to prowde housing for reb.red Mell￿15t tninisters and thelrv+1do￿.
During the year three propertses were vacated and one purthased_
Property repairs ￿1¢h We￿ due to undergo a rdling Maintenan￿ arKJ upgrade t*ogramrne ￿re
delayed to a certain extent, due to the Impact which the pandemic has had on ￿ntraCtOrS.
However, dunng the year, normal repaits on the property resutned. Our routine inspection ol all propetbes is
undetwdy With reports prepared for each property.
I committee meebngs were hdd via Zcom this year and are delighted that members ernbrac*d n8Wt8chnologies
to ensure the continued eftective governance and sateguarding of the knety and its activites.
Financial Controls
The members of the mmmitte8 feel that there are suffiDent financial controls in the cornpany to allow it to
operate effectively. The reporting requirements for each funder are rnaintsined and controlled effectively.
Financial perfomiance is scrutinised by the Board and the extemal aUdit￿S. Intemal contrds indude
expenditu￿ authorisation by two signatories. Capital Is safeguarded by our Investment Policy whith was
approved in De￿rnber 2021 and are rew&%Ed regularfy.
Reserves Policy & Going Concern
l of the Society's funds are considere(I to be unrestrKXed ￿•thin the pur￿)Se$ of prowding
housing for ￿tired Methodist ministers and their widows as laid out in the Memorandum and Artides.
Sutplus, generated are taken to reserves. Based on our robust reserves FK)licy and undet5tanding of current rnatket
conditions and extemal factors, the Board has a resonable expectabon thai the S￿iety has adequate resources to mntinu&
in operational e￿$tenCe for the fo￿eeable future. Theref￿e. the finanaal statements have been prepared on the going
concern basis.
Risk Review
The Board of Directors have assessed the Major risks to whith Ihe tharty is ex￿. in partiular
those related lo the operations and finanTrs of the company and are sabsfied that systems a￿ in rAa
to mitigate our exposure to the major nsks. Meetings of the Board have recurrent agenda items vhich indude ￿￿eW ofthe
Risk Register.
Financial Performance
The surplus for the year was £335.736. Capital value at the year end totslled £3.654,982 consisting of £14 Sha￿ caprtal
and £3,654,968 in ￿venue which is invested in a combination of yoperties and longer temi investrnents.
The members of the committee
The members of the committee of Ihe company are noied on page 1.

The Irlsh Methodlst Mln68tsrs Hou81 Soc
Llmlted
COMMrrrEE ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2023
Re$w)nsibilities olthe Committee
Industral and Provident Scoety law requires the cornrnritee to prepare finanual 5tstements foreach finanoal year
which give a true and fairvthy of the state of arraits of the tharity atthe end of the yearof the
incorning and outyoing reSOu￿S forthe yearthen ended.
In preparing those finanaal stalemenls, the commrttee is requ¥ed to select sUita￿e accounts.ng and
Ihen ap￿Y Ihetn consistenly. making judgernents and e5btnates that are reasonatAe and
prudent. The commitee must also prepare the financ￿ ststernents on the going concern basisunle55 it
Is Inapproprkqte to presume that tt)e charity %tril eontinue its acbvibes.
The committee is responsitle for keeping proper accounts.ng records which disdose with reaxfiable acLuracy
at any time the finanaal pos￿0￿ of the charity and to enable them to ensure thatthefinanul staternents
comF4y wth the Ctroperalive and Communty Benefft Sc¢ieties Act (Nothem Ireland 11969.
The committee is also reS￿￿$1ble for safeguarding the assets of the tharity and hence for taking reaSona￿e
Steps forth8 prtV8ntion and detection crffraud and othef Irre9￿8[[he$.
AudKor8
A res(Aution to reappDillt Rogan Accountary Limited as auditots of the S￿etyW11 be t￿￿Sed atthe
Annual Gener￿ Meeting
ApprovÉd by the committee on". 5 Decemi*r2023
T H Millar MBE
Chairtnan