**Registration number NI006121**
**Church of Ireland Press Company limited by guarantee**
**Directors report and financial statements**
**for the year ended 31 October 2024**
## **Church of Ireland Press**
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Contents
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**Page**
Directors report 1 Independent Examiner's report 2 Statement of Financial Activities 11 Balance sheet **4 - 5**
Notes to the financial statements
## **Church of Ireland Press**
## **Directors Report**
## **for the year ended 31 October 2024**
The Directors present their report and the financial statements for the year ended 31 October 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019"
## **Structure, governance and management**
The Company is a company limited by guarantee and having a share capital. **Directors**
The directors who served during the year were as follows Ms. Vera Woods
Mr. Patrick Good
Mr. Albert Fenton Mr Edward Wilson ( resigned 11th June 2024)
Mr. Adrian Clements Dean William Morton Mr. WA Rogan Ms. Heather Alison Flanigan Ms. Martha Elizabeth McLoughlin (appointed 13th March 2024)
## **Objectives and activities**
The Church of Ireland Press is the publisher of the Church of Ireland Gazette a monthly religious paper sold throughout Ireland. The contents of the paper includes items on church activities and events throughout Ireland together with various reports and religious articles in connection with the church of Ireland.
## **Achievements and performance**
The achievement and performance of the Church of Ireland Press are as set out in the Company Accounts year ended 31st October 2024 and the Honorary Treasurer's report to the Directors.
## **Financial review**
The Company received grants of £ 20,493 from Charitable trusts and remains fully supported by the
Representative Church Body. The Board are very conscious that sales continue to be not compatible with costs and action has been taken to reduce costs. We expect to have savings in administration going forward as well as to continue to monitor printing and other costs. Meetings have taken place with church leaders to encourage parish sales and to seek further support through grants.
This report was approved by the Board on 23 April 2025 and signed on its behalf by
## **Mr. Adrian Clements Director** T A
## ~~Clements~~
T A Clements (Apr 27, 2025 20:32 GMT+1)
**Page 1**
## **Independent examiner's report to the members of Church of Ireland Press**
I report on the accounts of the for the for the year ended 31 October 2024, which are set out on the following pages.
## **Respective responsibilities of the trustees and examiner**
As the charity trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
- follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and
- state whether particular matters have come to 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 carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes 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 attention giving me cause to believe:
1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006
2. That the accounts do not accord with those accounting records
3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
4. That there is further information needed for a proper understanding of the accounts to be reached.
## **Independent examiner's statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
## ~~MTS~~
MTS (Apr 27, 2025 20:14 GMT+1)
**Richard McClay FCA**
**1 Lanyon Quay**
**Page 2**
## **Church of Ireland Press**
## **McCreery Turkington Stockman LTD**
## **Belfast BT1 3LG**
## **23 April 2025**
## **for the year ended 31 October 2024**
|**Unrestricted** **Restricted**
**Year**
**Funds**
**Funds**
**Total**
**2024**
**2024**
**2024**
**Incoming Resources**
_Income resources from_
_generated funds:_
_Incoming resources from_
**Notes**
**£**
**£**
**£**
_charitable activities_
**3**
84,293
-
84,293
Investment income:
25
-
25
**Total incoming resources**
84,318
-
84,318
**Resources expended**
Costs of generating funds
**4**
(84,586)
-
(84,586)
**Total resources expended**
(84,586)
-
(84,586)
**Net income before transfers**
(268)
-
(268)
**Transfer between funds**
-
-
-
**Net incoming resources**
(268)
-
(268)|**Total**
**Funds**
**2023**
**£**
90,065
18
90,083
(88,770)
(88,770)
1,313
-
1,313|
|---|---|
**The notes on pages 7 to 9 form an integral part of these financial statements.**
**Page 3**
|**Statement of Financial Activities (Including Summary Income and Expenditure Account)**
Fund balances brought forward
1,531
-
1,531
**Fund balances carried forward**
-
1,263
1,263|218
1,531|
|---|---|
All of the above results are derived from continuing activities.All gains and losses recognised in the year are included above.
**Page 4**
**Balance sheet as at 31 October 2024**
|**General funds**
**Fixed assets**
Tangible assets
**Current assets**
Debtors
Cash at bank and in hand
**Creditors: amounts falling**
**due within one year**
**Net current assets**
**Net assets**
**Capital and reserves**
Unrestricted funds
1,263|**Church of Ireland Press**
**Balance sheet (continued) for the year ended 31 October 2024**
**2024**
**2023**
**Notes**
**£**
**£**
**£**
**£**
**6**
440
549
**7**
197
1,275
5,272
2,696
5,469
3,971
**8**
(4,646)
(2,989)
823
982
1,263
1,531
**9**
1,263
1,531
1,531|
|---|---|
For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
(a) The members have not required the company to obtain an audit of its accounts for the year in question inaccordance with section 476;
(b) The directors acknowledge their responsibilities for complying with the requirements of the Act withrespect to accounting records and the preparation of accounts.
The financial statements were approved by the Board on 23 April 2025 and signed on its behalf by
## **Mr. Adrian Clements** ~~T A Clements~~
**The notes on pages 7 to 9 form an integral part of these financial statements.**
**Page 5**
## **Church of Ireland Press**
## **Notes to the financial statements**
## **for the year ended 31 October 2024**
## **Director**
## T A Clements (Apr 27, 2025 20:32 GMT+1)
## **Registration number NI006121**
## **1. Accounting policies**
## **1.1. Basis of preparation**
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Companies Act 2006.
## **1.2. Tangible fixed assets and depreciation**
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
|**2.**||**Net incoming resources for the year**|**2024**|**2023**|
|---|---|---|---|---|
||||**£**|**£**|
|||Net incoming resources is stated after charging:|||
|||Depreciation and other amounts written off tangible assets|109|137|
||**3.**|**Income from generating funds:**|**Total**|**Total**|
||||**2024**|**2023**|
||||**£**|**£**|
|||**Income**|||
|||Gazette sales|42,974|47,353|
|||Advertising sales|20,826|21,003|
**Page 6**
## **Church of Ireland Press**
|Fixtures and fittings
-
20% reducing balance
Sponsorship|20,493
21,709
84,293
90,065|
|---|---|
## **1.3. Resources**
## **Incoming resources**
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
**The notes on pages 7 to 9 form an integral part of these financial statements.**
**Page 7**
||||**Total**|**Total**|
|---|---|---|---|---|
||||**2024**|**2023**|
|||**Church of Ireland Press**|||
||||**£**|**£**|
|**4.**|**Total resources expended**|**Notes to the financial statements**|||
|||**for the year ended 31 October 2024**|||
||**Costs directly allocated to**||||
||**generating funds**||||
||Wages and salaries||13,925|20,725|
||Rent||1,680|1,680|
||Insurance||1,557|1,441|
||Printing||22,975|22,700|
||Distribution||7,072|6,294|
||Postage, stationery and computer costs||2,982|1,883|
||Telephone||701|670|
||Contributors and freelance journalist||30,693|30,710|
||Independant examiner fee||1,400|1,390|
||Bank and credit card charges||274|492|
||General expenses||1,218|648|
||Depreciation on fixtures & equipment||109|137|
||||84,586|88,770|
## **5.**
## **Taxation**
No liability to UK corporation tax arises on ordinary activities for the year. The Company is a registered charity .
|||**Fixtures,**||
|---|---|---|---|
|**6.**|**Tangible fixed assets**|**fittings and**||
|||**equipment**|**Total**|
|||**£**|**£**|
||**Cost**|||
||At 1 November 2023|21,596|21,596|
||At 31 October 2024|21,596|21,596|
||**Depreciation**|||
||At 1 November 2023|21,047|21,047|
||Charge for the year|109|109|
**Page 8**
||At 31 October 2024|21,156|21,156|
|---|---|---|---|
||**Net book values**|||
||At 31 October 2024|440|440|
||At 31 October 2023|549|549|
|**7.**|**Debtors**|**2024**|**2023**|
|||**£**|**£**|
||Trade debtors|-|1,255|
||Vat|197|20|
|||197|1,275|
|**8.**|**Creditors: amounts falling due**|**2024**|**2023**|
||**within one year**|**£**|**£**|
||Trade creditors|1,659|1,639|
||Accruals|2,987|1,350|
|||4,646|2,989|
|||**Unrestricted**||
|**9.**|**Statement of funds**|**reserve**||
|||**account**|**Total**|
|||**£**|**£**|
||**Total reserves at 1 November 2023**|1,531|1,531|
||Total income for the year|84,318|84,318|
||Total expenditure for the year|(84,586)|(84,586)|
||**Total reserves at 31 October 2024**|1,263|1,263|
|||**Unrestricted**||
|**10.**|**Analysis of net assets between funds**|**reserve**||
## **Church of Ireland Press**
## **Notes to the financial statements**
## **for the year ended 31 October 2024**
||**fund**|**Total**|
|---|---|---|
||**£**|**£**|
|**Fund Balances at 31 October 2024**|||
|**represented by:**|||
|Fixed assets|440|440|
|Current assets|5,469|5,469|
|Current liabilities|(4,646)|(4,646)|
|**Total net assets**|1,263|1,263|
## **11. Company limited by guarantee**
The Company is a company limited by guarantee. Every member undertakes to contribute such amounts not exceeding £1 to the company's assets if it should be wound up while being a member, or within one year of ceasing to be a member.
## **Church of Ireland Press**
**The following page does not form part of the statutory accounts.**
**Page 10**
## **Church of Ireland Press**
## **Detailed statement of financial activities**
|**Income**
Gazette sales
Advertising sales
Sponsorship
**Administrative expenses**
Wages and salaries
Rent
Insurance
Printing
Distribution
Postage, stationery and computer costs
Telephone
Contributors and freelance journalist
Independant examiner fee
Bank and credit card charges
General expenses
Depreciation on fixtures & equipment|**2024**
**£**
13,925
1,680
1,557
22,975
7,072
2,982
701
30,693
1,400
274
1,218
109|**£**
42,974
20,826
20,493
84,293
84,586|**2023**
**£**
**£**
47,353
21,003
21,709
90,065
20,725
1,680
1,441
22,700
6,294
1,883
670
30,710
1,390
492
648
137
88,770|
|---|---|---|---|
|**for the year ended 31 October 2024**
**Net (loss)/profit for the year**
**Surplus/ (Deficit) on year/period**
**Other income and expenses**
**Investment income**
(293)
Interest received
25
25
)
(268|18|1,295
18
1,313|
|---|---|---|