THE PAROCHIAL SCHOOLS OF THE DIOCESES OF DOWN AND CONNOR, AND DROMORE INDEPENDENT EXAMINER'S REPORT TO THE GOVERNORS OF THE PAROCHIAL SCHOOLS OF THE DIOCESES OF DOWN AND CONNOR, AND DROMORE I report on the financial slalemenls of the Charity for the year ended 31 December 2022. which are sel out on pages 8 to 15. Respecttve responsibilities of Govemor5 and examiner As the charity s Truslees you are responSi￿e for Ihe preparation of the ac￿nts in accordance with the Charities Act (Northern Ireland} 2008. In accordance with the terms of our engagement, and lo assist you lo fulfil your duties under the relevant tharity laws and regulations. I have compiled the finanaal statements of The Down and Connor. and Dromore Diocesan Board of Eduralion for the year ellded 31 December 2022. set out on pages 8 to 15. from the accounting records and information and explanations you have gNen to me. 11 is my responsibility to- Il examine the financial statements under section 65 of the Charities Act (li) follow the procedures laid down in Ihe general Directions given by the Charity Commission under section 65(91(bl of the Charity Aet {iii) state whether particular matters have come to my attenlv)n. Basls of Indepèndent examinerfs report I have examined your tharity aecounts as required under seCt￿n 65 of the Charities Act and my examination was Ca￿led o¢Jt in accordance with the general Direcb"ons gNen by the Chanty Commission for Northern Iieland under section 6519)Ib) of the Charities Act. My examination induded a revied of the accounting records kept by the charty and a ￿mparisOn of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanatsons from you as charity Trustees concerning any such matters. My rolè is to stale whether any material matters have come to my attention giving me cause lo believe.. That aecounling records were not kept in accordance wilh seckn.on 63 of the Charities Act 2. That the accounts do not accord with those acLounting records 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there is fvrther information needed for a proper understanding of the accounts to be reached. Independent examinerfs statement I have CL)mpleled rny examination and have no concerns in respect of the matters {1) to (41 listed above and, in connection wlh followng the Directions of the Charity Commission for Northem IreLand, I have found no matters thal require drawing to your attention. . g. fkn4JltrLr Dr R I Peters Gallagher OBE FCA For and on behalf of Moore (N.I.) LLP 4th Floor Donegall House 7 Donegall SqLtare North Belfast BT1 5GB 0711212023 Dated.. THE PAROCHIAL SCHOOLS OF THE DIOCESES OF DOWN AND CONNOR, AND DROMORE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 As Restated Total Unrestricted Restricted funds funds 2021 2021 As Restatsd Totsl Unrestricted Restricted funds funds 2022 2022 2022 2021 Notes Income from: Donations Commission Investments 257 300 20.94Q 113.742 20,940 4.272 4.272 115,056 119,328 109.470 Totsl income 4.529 115,056 119,58S 25.512 109.470 134.982 Ex endlture on: Charitable activili8S 4,310 103.830 108.140 8,132 104.214 112,346 Net gains Uosses) on investments 18.8521 (433.31X)) (442.152) 18,245 252.543 270.788 Net movement In funds {8.633) 1422.074) (430,707) 35.625 257,799 293,424 Fund balan￿S at 1 January 2022 568.986 16.699.529 17368,515 533.361 16.441,730 16.975,091 Fund balances at31 Decernber 2022 560,353 16.277.455 16.837.808 568.986 16,699,529 17,268,515 The slalement of financial actsvities indudes al gains arKI losses recognised in the year. All income and expenditure derive from continuing actiwlies. Draft Financial Statements at 27 November 2023 at 10:55:26 THE PAROCHIAL SCHOOLS OF THE DIOCESES OF DOWN AND CONNOR, AND DROMORE BALANCE SHEET AS AT 31 DECEMBER 2022 As Restated 2021 2022 Notes Flxed assets Investment properties Investments 13.179.992 3,607,677 13.179.992 4,049.829 16,787,669 17,229.821 Current assets Cash at bank and in hand 66.247 40.794 Creditors: amounts falling due within one year 10 116,108) {2,1001 Net current assets 50.139 38.694 Total assets less currenl Ilabllltles 16.837.808 17.268.515 In¢ome funds Restricted funds Unrestricted funds 16.277.455 560,353 16.699.529 568.986 16,837,808 17,268.515 The financial statements were approved by the Govemors on .... Trustee THE PAROCHIAL SCHOOLS OF THE DIOCESES OF DOWN AND CONNOR, AND DROMORE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies harity infomiation The Parochial Schools OtThe Dioceses Of Down And Connor. and Dromore is a registered charity. 1.1 Accountlng convglltion The financial statements are prepared in accordance wi(h Accounting and Reporting by Charities= Statement of Recommended Practice applicaNe lo charities preparing their accounts in ￿COrdanCe with Financial Reporting SlarKlard 102. The financi￿ statements are prepared in steding. which is the functional currency of the Charity. Monetary amounts in these financial ststements are rounded to the nearest £. 1.2 Charitable fvnds Unrestricted fijnds are available for use at the disL¥etion of the Govemors in furtherance of their charf(able objectives. Restricted funds are those donated for use in a parhcular area or for specific purposes, the use of which is restricted to that area or purpose. 1.3 Income AJI incoming resources are induded in Ihe statement of financial acti￿tIeS when the Charity is entiiled lo the income and the amount can be quantrfEd with reasonable accuracy. The following specific policies are applied lo particular categories of income.. Voluntary in¢ome is re￿IVed by way of donations and gifts and is included in full in the Stslemenl of Financial Activities when receivable. Investment income is induded when re￿1¥able. 1.4 Expenditure Charitable activities expenditure is recognised on an accruals basis as a fiability is incU￿ed. Governance o)sts indude those incurred in the govemance of ils assets and are prirnarily associated with constitutional and slalulory requirements. 1.5 Investment properties Buildings are ststed al cost. except for those buildings which were not caprtalised until many years after being acquired. Their original cost could not be ascertained and a reasonable estimate of their value to the charity had been used. Jiklings are not depfecialed as the Board is of the opinKJn that both the depreciation tharge and the accumulated depreaation are not rnater1￿ because the estimated residual value (based on reasonabie estimates of their current value when recognised in the financial slalementsl of the asset is not rnaterially different from the carrying amount of the asset. The building5 are subject to an annual impairment review. 1.6 Investments All income from investments is accounted for on an accruals basis. Deposit interest receivable, expenses and interest payable are accounted for on an accruals basis. Listed investments comprise those quoted on a Stock Exchange. 10- THE PAROCHIAL SCHOOLS OF THE DIOCESES OF DOWN AND CONNOR. AND DROMORE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounllng policies Icontlnuedl 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits hekl at call with banks, other short-term liquid investments with original maturities of three month5 or tess. and bank overdrafts. Bank overdrafts are shown within borrowings in cuirent liabih'ties. Critical accounting estimates and judgements In the application of the Charitls accounting policies, the Governors are required to make judgements, estimates and assumptions about the trarrying amount of assets and liabilrtie5 that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevanL Actual resutts may differ from these eslimales. The estimates and undertyfrng assumpkn'ons are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in whith the estimate is rewsed where the revision affects only that period, or in the period of the revision and future periods Whe￿ the reviwn affe¢ls both Cur￿nt and future periods. 11 4*1nv o)00 In ro C C 4?