COMPANY REGISTRATION NUMBER N1642096 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31STDECEMBER 2023 Charlty Number NIC 106313 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 CONTENTS PAGE Members of the Board and professional advisers Directors. Annual Report Independent auditors, report Statement of financial activities (including the income and expenditure account) Balance sheet 12 13 Statement of cash flows 14 Notes to the financial statements 15 Page 1 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS Reglstered charlty namo Lord Enniskillen Memorial Orange Society Charlty reglstratlon number NIC 106313 Cornpany numbor N1642096 Registered offlce Schomberg House 368 Cregagh Road Belfast BT6 9EY Directors H M Bishop S F Brooker B A Dorrian R S A Gardiner Rev M Gibson NRAHenry Rev R R Johnslone Rev J Mcclean D W C Reaney Rev A S Smyth O E Stevenson Company Secrotsry B A Dorrian Auditor GMCG BELFAST Chartered Accountants & Statutory Auditor Alfred House 19 Alf￿d Street Belfast 8T2 8EQ Bankers Danske Bank Business Banking POBox183 Donegall Square West Belfast BT16JS Sollcltors Edwards & Co 28 Hill Street Belfast BT12LA Page 2 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE DIRECTORS, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 The dIr￿lOrS have pleasure in piesenting their rq)ort and th¢ audiled financial slatements of the charitable company for the year ended 31 December 2023. The directors have adopted ihe provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charitable company. The financial statements have been prepared in accordance with the accounting policies set out in noles to the financial statements, applicable accounting standards including Accounting and Reporting by Charities: Siatanent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Stsndard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northem Ireland) 2008. Charities Act (Northern Ircland) 2013, The Charities {Accounts and Reports) Regulations (Northern Ireland) 20 l5, Companies Act 2006, the charitable company's governing document and UK Generally Acwted Accounting Practice. REFERENCE AND ADMINISTRATIVE DETAILS Registered ¢harfty name Lord Enniskillen Memorial Orange Society Cbarlty registration number NIC 106313 Company Dumber N1642096 Registered offlee Schomberg Hous¢, 368 Cregagh Road, Belfast, BT6 9EY Company Secretary B A Dorrian Audltor GMCG BELFAST, Chartered Acxountants & Siatutory Auditor, Alfred House, 19 Alfred Street. Belfast, BT2 8EQ BADkerJ Danske Bank, Business Banking, P.O.Box 183, Donegall Square West, Belfast, BTI 6JS Solicitors Edwards & Co, 28 Hill Street. Belfast, BTI 2LA THE DIRECTORS The direclors of the charitable company are its trustees for the purpose of charity law. The direclors who served the company durin8 the year wcre as follows: H M Bishop S F Brooker B A Dorrian R S A Gardiner Rev M Gibson NRAHenry Rev R R Johnstone Rev J Mcclean R G S Mclldoon D W C Reaney Rev A S Smyth O E Sicvenson (deceased 13. February 2024) Pago 3 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE DIRECTORS, ANNUAL REPORT (contlnued) YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT PUBLIC BENEFIT STATEMENT The directors of Lord Enniskillen Memorial Orange Society confirni that they have had due regard for the guidance on Public Benefit by the Charity Commission for Northern Ireland and are pleased to report that during the year the charitable company continued to provide the Public Benefits through programmes and services we offer. In particular, the directors consider how planned activities will contribute lo ihe aims and obj¢¢tives they have set. Publle Beneflts: Children and families in necessitous circumstances are assisted and poverty is relieved. Families have sufficient resources so that children's welfare does not unduly suffer due to ber¢av¢ment, sickness or other causes of povertylhardship. and the care and development of children is not compromised. The beneflts can be demonstrated from feedback from grant recipients and supporting organisations. Governlng document Lord Enniskillen Memorial Orange Society is a charitable company limited by guaranlee and does not hav¢ any share capital. It was incorporated on I l November 2016 and regislered as a charity with The Charity Commission for Northern Ireland on S F¢bruary 2018. In the event of the company being wound up members are required to conlribule an amount not exceeding £1. Recruitment? appointment, Inductlon and trv4iDing The directors regularly review the requirements of the charitable company and the possibility of a need for additional directors. Any new directors would bc appointcd by resolution of a meeting of all Ihe directors passed by a majority of those present. Appropriate training and induction is available to all directors. Risk manlgement The dirpx¢ors have assessd the major risks to which the charitable company is exposed, in particular those related to ihe operations and finances of the charitable company, and are satisfied that systems are in place to mitigate an exposure to major risks. Where appropriate, systems or procedures have been established to mitigate the risks the charitable company faces. Internal control risks are minimised by the implementation of procedures for auihorisalion of all transaclions and projects. Procedures are in place to ensure compliance with healih and safety of staff, volunteers, clients and visitors. These procedures are periodically reviewed at least annually to ensure that they continue to meet the needs of the charitable company. Organl$Jtion Structures and related partles The directors ovcrscc the tunning of the charitable company. Grand Orange Lodge of Ireland is related to th¢ charitable company. OBJECTIVES AND ACTIVITIES Lord E[￿lskI]Ien Memorial Orange Society provides grants to relieve poverty. Page 4 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE DIRECTORS, ANNUAL REPORT {contlnued) YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENTS AND PERFORMANCE Total income for the year amounted to £449,559 (2022: £455,313). Income derived from donations and legacies amounted to £148,705 (2022: £104.436) and investment income amounicd to £300.854 (2022: £350,877). Total expenditure for the year amounted to £519,336 (2022: £451,514). The cost of raising funds amounted to £31,720 (2022: £32,543) and cost of charitable activities amounted to £487.616 (2022: £418,971). The net expenditure for the year before investment 8ains or losses amounted to £69.777 (2022: £3,799 net incomc). Reserves poli¢y The charity's policy is to maintain reserves at such a level as limils risks from future downturn in charity income or from increascd expenditure in the longer terni, including expenditure on fixed assets. This provides sufficieni funds lo cover running costs wlu'ch include management. administralion and support costs. Free reserves are those unrestricted reserves not designaled nor investd in fixed assets which are available for general use. The Iruste¢s ai¢ particularly conscious that voluntary donations and legacy income cannot be relied on as a continuing and certain source of incoming r¢sources for the future and is also aware of the need to guard against the vagaries of stock market perforniance. Funding The principal funding is from donations and investment income. PLANS FOR FUTURE PERIODS The directors envisage there will be no Change in the charity's objectives and acliviti¢s for ihe fores¢¢able future. RESPONSIBJLITIES OF THE DIRECTORS The trustees (who are also ihe directors of Lord Enniskillen Memorial Society for the purposes of company law) are responsibl¢ for preparing the Directors, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepied Accounting Practice) including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" The law applicable to charities in Northern Ireland requircs the directors to prepare financial statements for each financial pcriod which give a true and fair view of the state of affairs of the charilable company and of the incoming ￿soUrceS and application of resources, including the income and expenditure, of th¢ charitable company for that period. Page 5 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE DIRECTORS, ANNUAL REPORT (contlnuad) YEAR ENDED 31 DECEMBER 2023 RESPONSIBILITIES OF THE DIRECTORS (conllnued) In preparing these financial statements, the directors are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charilies SORP 2019 (FRS 102); make Judgements and accounting estimates that are reasonable and prndent. slate wheiher applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial stalements on the going concern basis unless it is inappropriate to presume Ihat the charitable company will continue in operation, The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, Charities Act (Northern Ireland) 2008 and The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, The directors are also responsible for safeguarding the assets of ihe charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irr¢gulariti¢s. The tNstees are responsible for the maintenance and integrity of th¢ corporate financial inforniation included on the charitable Company's w¢bsit¢. Legislation in the United Kingdom governing the preparation and dissemination of financial statemenls may differ from legislation in other jurisdictions. In so far as the directors are aware: there is no relevant audit inforniation of which the charitable company's auditors are unaware; and the directors have taken all stq)s that they ought to have laken lo make themselves aware of any relevant audit infomydtion and to establish that the charitable company's auditors are aware of that inforniation. INDEPENDENT AUDITORS GMCG Belfast has indicated their willingness to remain in office and a resolution for their re-election will be proposed at the forthcoming Annual General Meeting. SMALL COMPANY EXEMPTIONS This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies A¢1 2006. Registered office: Schomberg House 368 Cregagh Road Belfast BT6 9EY Signed by order of the trustees O E Stevenson Director Date: CIIAR TtRF.D ACCOUNTANTS Page 6 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY YEAR ENDED 31 DECEMBER 2023 Opinion We have audited the financial statements of Lord Enniskillen Memorial Orange Society (the 'charitable ompany,) for the year ¢nded 31" December 2023 which comprise the Statement of Financial Activities (including income and expenditure a￿OUnt), the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial rcporting framework that has been applied in their preparation is applicable law and Uniied Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporling Siandard applicable in ihe UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praetiee). In our opinion the financial statements.. give a true and fair view of the slatc of thc charitable company's affairs as ai 31 Il December 2023, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting PracticK; and have been prepared in accordanee with the requirements of the Companies Act 2006. Basis for oplnlon We conducted our audil in accordance with International standards on Auditing (UK)(ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilitie5 for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have ￿lfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Alfrol Hou A9 Alfr￿ Strt BELFKff BT2 BBQ DX3910 NR BELFk¥f50 CeDitsryHou8C 40 Cr￿&￿￿1 Bustnw P￿k USBURN T28 2GN 17 MaDdovillÈSltwt PORTADOWN igavoD BT63 3PB Tel: +44(0128 9031 1113 Fu: +44(0)28 9031 OTn Tel: +44(0)289a60 T F￿.. +44(0)x8 9200 1656 T¢1: +44(0)283833 2801 F￿. +44(0128 38350293 GML¢ ts4 ofGM(Gf￿￿Wltty1 li¢RNoNJ0596&tr. iJstOftknct47￿A¥&l1IblcAI t¢8istcttdo(&EC Ros&otd iotonduclauthtw)rktytrK Iw5titUlrrfLThart(¥coA￿?￿t￿1$in Irelaud www.gmegea.e( Paga 7 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY (contlnued) YEAR ENDED 31 DECEMBER 2023 Conclu5ion$ relating to going CODcerD In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accounting in the preparation of the financial stat¢m¢nts is appropriate. Based on the work we have perfotmed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees With respect to going concern are described in the relevant scctions of this report. Other information The other infonnation comprises the infom￿tion included in the annual report other than the financial statements and our auditor's report therein. The INslees are responsible for the other inforniation contained wittun th¢ annual report. Our opinion on the financial statements does not cover the oiher infomation and, exccpi to the extent otherwise explicitly stated in our report, we do not express any forni of assurance conclusion thereon. Our responsibility is to read the other inforn]ation and, in doing so, consider whether the other infom]ation is materially inconsislent with the financial statements or our knowledge obtained in the course of th¢ audit. or oiherwise appears to be materially misstated. If we id¢ntify such material inconsistencies or apparent malerial misstatemenls, we are required to dcterniine whether this gives rise lo a material misstatemcnt in the financial statements themselves. If bas¢d on the work we have perfornled. we Conclude that there is a material misstatement of this other infonnation, we are required to rqx)rt that fact. We have nothing to report in this rcgard. Oplnlons on other matters preserlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: Ihe inf0m￿tiOn given in the Irustees, report (incorporating the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and th¢ directors, report has been prepared in accordance with applicable legal requirements. Page B LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY (contlnued) YEAR ENDED 31 DECEMBER 2023 Matters on which we are requlred to report by exceptfion In thc lighi of our knowlcdg¢ and understanding of the charitable company and its environment obtained in the course of th¢ audit, we have not identified material misstatements in the directors, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires US to report to you if, in our opinion: adequate accounting records have not been kq)t, or retLwns adequate for our audit have not been received from branches not visita by us. or the financial statements are not in agreement with the accounting records and relurns; or certain disclosurcs of directors, remuneration specified by law are not made. or we have not received all the inf0m￿tiOn and explanations we require for our audil. or th¢ trustees were not entitled to prepare the financial statements in accordance with the small companies. regime and take advantage of the small companies, ¢x¢mptions in preparing the directors, report and from the requirem¢nt to prepare a slrategic rq)ort. Responsibilities of trustees As explained more fully in the statement of directors, resFM)n5ibilities set out on pages 4 and 5, the trustees {who are also the dir¢¢tors of the charitable company for the purpose of company law) are responsible for the preparation of the financial statements and for being Satisfi￿ that they give and true and fair view, and for such inlernal control as the trustees detemiine is necessary to enable the preparation of financial statements that are fre¢ from material misstatement, wh¢th¢r due to fraud or e￿or. In preparing the financial Statements. the trustees are responsible for assessing the Charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going con¢ern basis of accounting unless the Irusltts wither intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Audltor's respoDsibilities for tbe audlt of the financial $tAtemenl$ Our objectives are to obtain reasonable assuran¢e about whether the financial statements as a whole are free from material misstatement. whether due to fraud or etror. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always ddect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements, Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which thes¢ ar¢ capable of delecting irregularities, including fraud is detailed below: Pago 9 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY (contlnued) YEAR ENDED 31 DECEMBER 2023 Extent to which the audit was consldered capable of detectlng firregularities, including fraud We identify and assess the risks of matertal misstatement of the financial statements, whdher due to fraud or effor, and then design and perforni the audit procedures responsive lo those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of i￿egularities. including fraud and non Page 12 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 DECEMBER 2023 Unrestrl¢ttd Funds Restricted Total Funds Funds 2023 Total Funds 2022 Noto Income from: Donations and legacies Investments 148,705 300,854 449,559 148,705 300,854 449,559 104,436 350,877 Total income 455,313 Expendlture on: Investment management costs Charitable activities (31,720) (487,616) (519J36) (31,720) (487,616) (32,543) {418,971) (451,514) 516 Total expeDdlture (519J36) Net {expendlture)lin¢ome before other gains 4nd1098e$ {69,777) {69,777) 3,799 Realised105ses on listed investments Unrulised gainsl(losses) on listed investm¢nls (32,902) (32,902) (57,597) 7.824 7,824 (431,585) Net expendlture after other galn$ and losses (94￿55) (94,855) (485.383) Re¢onclllation of funds: Total funds broughi forward 8,987J33 8,987J33 9,472,716 Total funds earried forward 8,892,478 8,892,478 8,987,333 The Siatement of Financial Activities includes all gains and losses in the period. All of the above amounts relate to continuing aotivities. Thé not•8 on pages 15 to 24 form part of Iho8e financl•l •latsm8nt•. Page 13 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE BALANCE SHEET 31 DECEMBER 2023 2023 2022 Flxed assets Investments 12 V24,178 8,382.137 Current 4s$et$ Debtors Cash at bank and in hand 13 2,411 577,959 $80J70 2,580 614,816 617,396 Credfjtor$: Amounts falling due wlthln one year 14 {12,070) (12,200) Net Current assets 568,31)0 605,196 Total assets le88 current liab515tle8 8.892.478 8,892,478 8,987,333 8,987,333 Net aS8et$ Chydrfjty Fund$ Unrestricted income funds 15 8,892,478 8,892.478 8,987,333 8,987,333 Total eharfty fundg These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordanc¢ wilh Charities SORP (FRS 102). These fi ncial statements were approved by Ihe board of directors and authorised for issue on . and are signed on behalf of the board by: H M Bisho Director O E St¢ven8on Director Date: Date: Company Registration Number: N1642096 Pag• 14 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS 31 DECEMBER 2023 2023 2022 Nole Cash flow from operatlng actlvitles Net cash Ilow from operating actlvllles Cash flow from investlng actlvltles Investment income Purchase of investments Proceeds from sales of investments 17 (370A92) (370592) (351.177) (351,177) 300,854 (928,632) 961,513 333,735 350,877 (1,373,976) 944,593 (78,506) Net eash flow from finvestin8 aetlvltks Net decrease In Cash and cash equivalents (36,857) (429,683) Cash and cash equlvalents at l JanuAry 2023 Cash and ¢4sh equlvalents at 31 December 2023 614,816 577,959 1,044,499 614,816 Cash and cash equivalents ¢onsl$ts of- Cash at bank and in hand 577,959 577,959 614.816 Cash and eash equlvAlent8 at JI Deeember 2023 614,816 Page 15 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 ACCOUIYTING POLICIES Generrdl iDforniation and basis of Accountlng Lord Enniskillen Memorial Orange Society is a charitable company limited by guarantee and does not have any share capital. It registered as a charity with The Chariiy Commission for Northern Ireland on 5 February 2018 and il is incorporaied in Northern Ireland. The address of the registered office is given in the charity infonnation on page l of these financial statements. The charitable company constitutes a public benefit entity as defined by FRS 102. Statement of eomplSance The financial statements have been prepared in accordancc with the accounting policies set out in notes to the financial statements, applicable accounting standards including Accounting and Reporting by Charilies: Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, th¢ Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2008. Charities Act (Northern Ireland) 2013, The Charities (Accounts and Reports) Regulalions (Northern Ireland) 2015, Companies Act 2006, the charitable company's governing document and UK Generally A￿epted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain ilems at fair value. The financial statements are prepared in sterling which is the fiu]ctional currency of the charitable company and rounded io the ncarest £1. The significant accounting polici¢s ar¢ set out below. The directors consider that ihese accounting policies are suitable, have been consistently applied and are SUPPK)rted by reasonabl¢ and prudent judgement and eslimates. Fund accounting- unrestricled funds The charitable company's unrestricted funds consist of a General Fund which is expendable at the discretion of the directors in furtherance of the charitable objects of the company. The directors may at iheir discretion designate funds for specific purposes but the designation does not legally restrict ihe directors. discretion to apply the funds. Jncome recognltlon All incomc is included in the Statement of Financial Activities (SOFA) when the charitable company is legally entitled to the income after any perfonnance conditions have been mel. the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charitable company will have been notified of the amounts and ihe settlement date in writing. If there are conditions attached to the donation and ihi5 requires a l¢v¢l of perfornunce before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charitable company and it is probable that they will be fulfilled. Page 16 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (contlnued) YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES (eonllttuéd) llleome recognltlon (conllnued) Donated facililies and donaled professional services are recogmIs￿ in income at iheir fair value when their economic benefit is probable, it can be measured reliably and the charitable company has control over the item. Fair valu¢ is d¢tern]ined on the basis of the value of the gift to the haritable company. For example, the amount the charilable company would be willing to pay in Ihe open market for such facilities and services, A corresponding amounl is recognised in expenditure. No amount is includ¢d in the financial statements for volunteer time in line with the SORP (FRS 102). Where practicable, gifts in kind donated for distribution to the beneficiaries of the charitable company are included in stock and donations in ihe financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if ihe costs to undertake such a valuation outweigh any benefits, then the fair value is r¢cognised as a component of donations when it is distributed and an equivalenl amount recognised as ¢haritable expenditure. Voluntary income received by way of donations and gift is credited to revenue on a r¢c¢ivable basis. Fixed assei gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset. For legacies, entitlement is the earlier of the charitabl¢ company being notified of an impending distribution or the legacy being received. At ihis point income is recognised. On occasion Icgacies will be nolified to the charitable company however it is not possible to measure the amount expect￿ to be dislribuled. On these occasions, the legacy is treated as a contingent ass and disclosed. Investment income is interest earned through holding cash at bank. Interest income is recognised when receivable. Expendlture recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probablc that the scttlemcnt will be required and the amount of the obligation can be measured rcliably. Where costs cannot be dir￿llY attributed to a particular heading they have been allocated to activilies on a basis consistent with the use of the resources. Staff costs and overhead expenses are allocated to activities on the basis of slaff time spent on those activities. Fund-raising costs are those incurred in seekn'ng voluntary contributions and do not include the costs of disseminating Infom￿l10n in support of the charitabl¢ activities. Page 17 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (contlnued) YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES (continued) Investments Investments are recognised initially at fair value which is norn)ally the transaction price excluding transaction costs. Subsequently, they arc mcasured at fair value with changes recognised in 'nei gains l (losses) on inveslmenls, in the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured al cost less impairnient. Debtors and credltor$ receivable I payable witbin one year Debtors and creditors with no slated interest rate and receivable or payabl¢ within one year are recorded at transaction price. Any losses arising from impainrAent are ￿ognIsed in expenditure. Taxation As a charity, the company b¢n¢fits from various exemptions afforded by tax legislalion. It is therefore not liable to corporation tax on income or gains falling due within those exemptions. Recovery is made of tax deducted from receipts under gift aid. Going concern The financial statements have been prepared on a going concern basis. The Directors consider the basis to be appropriale assuming thal the charilable company has adequate financial support from the bankers and related parties. Judgements Pdnd estimates The preparation of financial slatements requires the directors to make judgements, estimates and assumptions that affect the amounts rcportcd. Thcse estimatcs and judgements are continually reviewed and are based on experience and other faclors. Thc dircctors consider that there were no judgements, estimates or assumptions ihat had a significant effect on the amounls recognised in the financial statements and that have a significant risk of causing a material adjustment to the carrying amounls of assels and liabilities within the next financial year. The estimates and assumptions are reviewed on an ongoing basis considering the current and future market conditions. Donations and legacles Unrestricted Restrlcted Funds Funds Total Unrestricted 2023 Funds Restricted Fund8 Total 2022 Donations Legacies Gift aid 134.293 3,640 10,772 134,293 3,640 10,772 148,705 99.135 99,135 5,301 5,301 148,705 104,436 104,436 Paga 18 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 DECEMBER 2023 Income from Investments Unrestrleled Restricted Funds Funds Total Unrestricted 2023 Funds Restricted Funds Total 2022 Dividends & inlerest-listed inveslmenls Inle￿St-bank 298,4SO 2,404 298,450 2,404 350.511 366 350,511 366 300.854 300,854 350,877 350.877 IDvestmeDt mrlnagement costs Unrestrieted Funds Restrlcted Funds Total Unrestricted 2023 Funds Reslricled Funds Total 2022 Investment management fees 31,720 31,720 32,543 32,543 32,543 32,543 31,720 31,720 Analysls of expendilure OD Charltable Actlvitles Aetlvlties Undertaken Dlrectly Support osl$ Tot¥l 2023 Activities Undertaken directly Support costs Total 2022 Assisling families 480,450 480,450 7,166 487,616 7,166 487,616 414,650 414,650 4,321 4,321 418,971 418,971 £Nil (2022 - £Nil) of ihe cost of activities undertaken directly and £Nil {2022 - £Nil) of support costs w¢r¢ attributable to restricted funds. £480,450 (2022 £414,650) of the cosl of activities undertaken directly and £7,166 (2022 - £4,321) of support costs wer¢ attributable to unrestricted funds. Page 19 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 DECEMBER 2023 Allocltlon of support ¢o$ts Basis of allocation Assisting families Total 2023 Assistlng families Total 2022 Governance (note 7) Insuran¢¢ Other running costs Cost Cost Cost 5.052 739 1,375 5.052 739 lJ75 3,472 3,472 641 208 208 7,166 7,166 4,321 4,321 Governance cojts Unrestricled Fund8 Restrlcted Funds Total Unrcstricled 2023 Funds Restricted Funds To¢al 2022 Auditor's remuneration Oiher financial costs 4,440 4,440 3,1J)O 3,000 612 612 472 472 5,052 5.052 3,472 3,472 Net (expenditure) l income for the year 2023 2022 Net (expenditure) l income for the year is JtAted after eharglng I (credltln£> AudiloTS' reMUn￿4110n (Loss) on disposal of investm¢nls Ga1￿(lOS5} on fair value movement of investments 4,440 3,000 {32,902) (57,597) 7,824 (431,585) Pag• 20 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 DECEMBER 2023 Audltor's remuneration The auditor's r¢mun¢ration amounts to an audi¢ fee of £4.440 (2022: £3,0￿) and other services of £Nil {2022: £Nil). 10. Dlrectors, and key mAllAgement personnel remuneratioD and expenses The key manag¢m¢nt personnel are considered to be the trustees. The Irustees neither received nor waived any remuneration during the year (2022: £Nil). The Irustees did not have any expenses reimbursed during the year (2022: £Nil). I l. Staff costs and employee benefits Totil staff costs were as follows: 2023 2022 Wages and salarie5 Social security costs Oth¢r pension costs Partlculars of employees: The average monihly number of employees during the year was Nil (2022: Nil). Page 21 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (contlnued) YEAR ENDED 31 DECEMBER 2023 12. Flxed asset Investments Total Investments Listed Investments Market value at 151 January 2023 Additions Disposals Unrealised gain on revaluation Market value at 3111 Deeember 2023 8J82.137 928.632 (994,415) 7024 8,324,178 8J82,137 928,632 (994,415) 7,824 8J24,178 The investments of the Society are managed and held on the Society's behalf by Evelyn Partners Stockbrokers in lh¢ name of their nominee company Evelyn Partners Inv¢stm¢nt Services Limited. The market value of listed investments at th¢ balance sheet dale amounted lo £8,324,178 (2022 - £8,382.137) and is made up as follows:. Market Value 2023 Market Value 2022 INVESTMENTS: Cash - other inslrumenl$ Bonds Alternatives & Multi-Asset Equilies United Kingdom Overseas Global 182,578 1,301054 1,149,645 96,292 968,939 1,213,027 2,438.723 1,982,946 1,268,432 8,324,178 2,816,176 2,010,952 1,276,751 8,382,137 Investments are accounted for at the balance sheet date at their fair value in accordance with applicable accounting standards. Page 22 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 DECEMBER 2023 13. Debtors 2023 2022 Prepayments and accrued in￿me 2.411 2,580 2,580 2,411 14. Credltors: Amounts falling due within one yeAr 2023 2022 Accruals 12,070 12,200 12,200 12,070 15. Unre$trlcted funds Balance at l Jan 2023 Income Expendlture Investment losses Balance asat 31 Dec 2023 General funds 8,987,333 8,987,333 449,559 449,559 (519,336) (519J36) (25,078) (25,078) 8,892,478 8,892,478 Balance at I Jan 2022 Income Expenditure Investment losses Balance asal 31 Dec 2022 General funds 9,472,716 9,472.716 455.313 (451,514) (489,182) (451,514) (489.182) 8,987,333 8,987,333 455,313 Unrestricledfundg.. General fund The unrestricted funds of the charitable company consist of a General Fund which is expcndablc at the discretion of the trust¢¢s in ￿rth¢rance of the charitable objectives of the charitable company and which has not been (ksignaid for oth¢r PUTPOS¢S. Page 23 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (contlnued) YEAR ENDED 31 DECEMBER 2023 l& Analysis of net assets between funds Flxed Net current assets assets AS at 31 December 2023 Total Unrestrleted Fund8 8J24,178 &324,178 568JOO 8,892,478 8,892.478 Tot￿ Funds 568JOO Fixed Net cU￿¢￿t assets assets As at 31 December 2022 Total Unreslricted Funds 8.382,137 605,196 605,196 8,987,333 8,987,333 Total Funds 8,382,137 17. RecoDclliatioD of net (expenditure)lineome to net Cash flow from operatlng activities 2023 2022 Net (expenditure)lincome for year (69,777) 3,799 Investmenl income Decreasel{increase) in debtors Dccrease in creditors (300,854) 169 (130) (370,592) (350,877) (2,474) (1,625) (351,177) Nel cash flow from operating activities 18. Related party transaction5 Grnnd Orange Lodge of Ireland is related to the charitable company. Lord Enniskillen Memorial Orange Society received a donation of £100 (2022: £100) from Grand Orange Lodge of Ireland and were charged an adminislr81ion fee of £36,000 {2022.. £36,000) by Grand Orang¢ Lodge of Ireland. No other related party transactions occurred during the year. Page 24 LORD ENNISKILLEN MEMORIAL ORANGE SOCIETY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 DECEMBER 2023 19. Company limited by guarantee The company is limited by guarantee and has no share capital. On a winding up members may b¢ required to contribute a maximum of £1.