THE MACKEY ESTATE (CRUMLIN EPC) Trustees Annual Report and Financial Statements for the year ended 31 December 2023 Registered Charity in Northern Ireland (NIC107908)
THE MACKEY ESTATE (CRUMLIN EPC) TRUSTEES ANNUAL REPORT The Trustees present their Annual Report and Financial Statements for the year ended 31 December 2023 including a Statement of Assets and Liabilities as at that date. REFERENCE AND ADMINISTRATtVE DETAILS Correspondence address.. 37A LaT8y Road, Crumlin. BT29 4RN. Registered Charity in Northern Ireland (NIC107908). CHAIUTY TRUSTEES The Charity Trustees who served during the year or who were trust¢eg at the dale of this report were.. Mr Roy Beck Mr Michael Montgomery Mr Stephen Craig Mr John William Moore Rev Andrew Hambleton Mr George Platt Mr Ben Hegan Mr David Noel Woolsey Mr Allister Lucas ptUNCIPAL OFFICE BEARER Treasurer.. Mr David Noel Woolsey INDEPENDELYT EK4MINER James Gillespie (F.C.A.) Stevenson and Wilson Chartered Accouniants 22-30, Broadway Ave, Ballyrnena. BT43 7AA. BANKERS Santander 1-3 Famley Road. Glengormley, Newtownabbey. BT36 7TR.
THE MACKEY ESTATE (CRUMLIIY EPC) TRUSTEES ANNUAL REPORT (cont'd) STRUCTURE, GOVERNANCE AND MANAGEMENT The Mackey Estate (Crumlin EPC) is governed by the will of Andrew Park Mackey dated 21 $1 December 1989. Registration with the Chariry Commission for Northem Ireland was completed on 15 December 20?0. The Trustees of The Mackey Estate are the elders and deacons ol Crumlin EPC. and are therefore appointed by means of elder and deacon elections, voted for by the membership of Crumlin EPC, and in line with the procedures and requirements of the Evangelical Presbyterian Church. All Tru5tee5 give of their tim¢ freely and no Tru51ee remuneration was paid during Ihe year. There are currenily nine Trustees who hav¢ overall responsibility for the charity and its governanc¢. During the year four Twst¢¢ m¢¢tings were held. DF.SCRIPTION AND PURPOSE The charitable purpose is that the funds are to be used by Crumlin Evangelical Presbyterian Church for the work il carries on as the Elders and Deacons Board thereof for the time being shall in their absolute discretion decide appropriate. ACTIVITIES AND olEcTIVEs The Mackey Eslale is used to 5UPPOrt the work of Crumlin Evangelical Presbyterian Church. both by helping 10 facilitate ihe local ministry of rhe church, and also by sending financial help to parmer churches and mission organisations as needs arise. ACHIEVEMENTS AIYD PERFORMANCE The Mackey Estate continues to provide for the general upkeep and maintenance of the building and grounds belonging to Crumlin EPC, and various costs related lo the niaintenance of church propety, such as grass cutting, cleaning and general repairs. The estale also provides funding for the heating and lisphting of the building in order to facilitate the weekly Church services and other minislries lakin8 place in the church building throughout the week, as well as providing finar]cial support for ihe ministy of Crumlin EPC both in its local context and through associated mission work. During tbe 2023 year The Mackey Estate's main source of income was rent that accrued from the agricultural land which was rented out (totalling £5,040 for the year). In addition to thi5 the Estate also has an investment portfolio which increased in value by £143.657 over the course of the year. The Trustees of The Mackey Estate tneet with a financial advisor on an annual basis in order lo be updated on the investments and receive relevant advice for how to manage the ndS responsibly. The Trustees also iocreased the estimaled current market value of the Trust's 42 acres of agricultural loan by £105,000 during the year. Throughout 2023, the trustees met on four OCC105 to di55 the work of The Mackey Estate. In addition to the money that was used to help facilitate the work of the church at Crumlin Evangelical Presbyterian Church, The Mackey Estate was also able to help suppon some mission partners. with £2,000 being donated to protnote the work of International Mission to Jewish People, another £2,000 donaied to the work of The Christian Institute, and £1,297 used for funding a short-terni mission trip to India. The Trustees have had regard to the Charity Commission's Public Benefit requirement.
THE MACKEY ESTATE (CRUMLIN EPC) TRUSTEES ANNUAL REPORT (cont'd) PUBLIC BENEFIT STATEMENT The direct benefits that flow from this Purpose are the encouragemen( of participation in beneficlal activities within our own community in Crumlin and throughout the world, resuliing in improved spiriwal wellbeingy and a greater knowledge of the Christian faith, as well as the practical outworking of this in the lives of those reached. These benefits are evidenced by the numerous church building projects that The Mackey Estate has helped to fund not only in Crumlin but throughout Ireland and across the world, and the benefits that result from these works as they bring positive influence to their communilies. Locally, The Mackey Estate is used to facilitate the upkeep of the church premises in Crumlin, and promore ihe ministy of the church. These benefits are also evidenced by reports that we receive from those we have helped, and also independent evaluation of what is being done by others. When considering which works to 5UPPOrt, care is taken to ensure thai ihere is no harni in doing so, and that the rlloney is used lo bring needed help. Beneficiaries of The Mackey Estate are any who are helped through the rninistry of Crumlin Evangelical Presbyierian Church. or any of the other works to which we have given support. There is no private benefit flowing from the purpose of The Mackey Estate. FINANCIAL REVIEW In the year ended 31. Decernber 2023 the chariryhad total income of £5,053 compared with £6.877 in the previous year. During the 2022 year the freehold inlerest in residential Property was sold generaling proceeds before fee5 of £24,000. Total expenditure increased from £71,178 in 2022 to £76.340. At the end of the period the charity had nel assets of £2.824,900 including cash al bank of £3.020. STATEMENT OF TRUSTEE RESPONSIBILITIES The TnE5tees are responsible for preparing the annual report.and the financial statements of the charity in accordance with applicable law and generally accepted accountin< tr practice. As the charity. s total income does not exceed £250,000. the Trustees have elecled under Section 64(3) of the Charities Act (Northem Ireland) 2(Y)8 to prepare a receipts and payment account and a statement of as5e15 and liabilities. The Trnstees are responsible for keeping adequate accounting records that are sufficient to show and eyplain the Charity's trdnsactions and disclose with reasonable accuracy at any time its financial position. They are also Te5ponsible for Safeguarding the assets of the charity and hence for taking reasonable steps lor the prevention and detection of fraud and other irregularities. Approved by the Board of Truslees on 5 September 2024 and sigFned on its behalf by: Signature- Signature". Name: Rev. Andrew Mile5 Hambleton Name: Mr. David Noel Woo15ey
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE MACKEY ESTATE (CRUMLIN EPC) I report on the accounts of The Mackey Estate {Crumlin EPC) for the year ended 31 December 2023, which are set out on pages 5 to Respeetive responsibilities of charity trustees and examiner As the charity's trustees i'ou are responsible for ibe preparation of the accowits in accordance with the Charities Act (Northem Ireland) ?008. li is rny responsibiliry to: examine the accounts under section 65 of the Charities Act follow the procedures latd down in the general Directions given by the Comtnission under section 65{9)(b) of the Charities Acl state whether particular matters have come to my attention. Basis of independent examiner's report I have examined your charity accounts as required under seclion 65 of ihe Charities Act and my examination was Caled out in accordance with the general Direclion5 given by the Charity Commission lor Northern Ireland under se¢tion 65(9)(b) of the Charities Aci. My examination included a review of the accounring records kept by ihe charity and a comparison of the accounts presented with those record5. 11 also included consideration of any unusual items or disclosures in the accounrs, and seeking explanations from you as charity tnjsiees concerning any such matters. My role i5 to slate whether any material matters have come to my atntIOn giving me cause lo believe.. l. That accouniing records were not kept in accordance with section 63 of the Charities Act 2. Thai the accounts do not a¢¢ord with those accounting records 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. Thai th¢r¢ is further infomation needed for a proper under$LdIng of the accounts to be reached. Independent examiner's statement I have completed my exatninatiot) and have no concerns in respect of the matters (l ) 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. ames Gillespie (F.C.A.} Sievenson and Wilson 22-30 Broadway Avenue Ballymena BT43 7AA Chartered Accountants Date.. 5 September 2024
THE MACKEY ESTATE (CRUMLIN EPC) STATEMEIYT OF FINANCIAL ACTIVITY (RECEIPTS AND PAYMENTS ACCOUNT) FOR THE YEAR ENDED 315t DECEMBER 2023 Note Ullrcslricted Funds Total 2023 Total 2022 Receipts Other trading activities oiher income 4,990 63 4,990 63 6,436 441 5,053 6,877 Asset and inve51rnent salLs Proceeds from sales of residential freehold interest 24,000 Total Receipts 5,053 5,053 30.877 Payments Charitable activities Other expenditure 34,415 41,925 34,415 41,925 23.871 47,307 Total Payments 76J40 76J40 71,178 iyet reeeipis l (payments) (71.287) (71,287) (40,301) Net movement in fund5 {71.287) (71,287) (40,301)
THE MACKEY ESTATE (CRUMLIN EPC) STATEMENT OF ASSETS AND LIABILITIES AS AT 31$1 DECEMBER 2023 Unrestricted Funds Total Funds 2023 Total Funds 2022 Funds Reconciliation Bank, cash and investments at start of year Net movement in funds Movement in value of investment portfolio 1,979,872 (71,287} 182,275 1,979,872 (71287) 182,275 2.183.853 (40.301) (163,680) Bank, ¢Ash investmenls at end of yegr 2,090,860 2.090.860 l.979.872 Bank, Cash and Investment Balances Bank current aLcount Investment portfolio - note 6 3,020 2.087,840 35,689 1.944,183 2,090,860 1.979.872 Other Assels Tangible fixed assets- agricultyral land - note 5 735,000 630,000 735,000 630,000 Liabilili¢s Arxruals 960 1,920 960 1,920 Approved by the Board of Trustees on 51h September 2024 and signed on its behalf by: Signature: l.. M tQL£ Signature: Name.. Rev. Andrew Miles HambIon Name: Mr. David Noel Woolsey
THE MACKEY ESTATE (CRUMLIN EPC) NOTES TO THE ACCOUNTS FOR THE YE1 ENDED 31st DECEMBER 2023 I. ACCOUIYTING POLICIES BASIS OF FINANCIAL STATEMENTS As the total incotne of the charity 15 less than £250,000 the charity's Trustee5 has elected in accordance with the provisions in The Charities (Accounts and Reports) Regulations (Northem Ireland) 2015 ¢0 prepare its accounts on a receipts and payments basis. FUND ACCOUNTING Unrestricted ndS are income ndS which are lo be speni or applied ai the discretion of Ihe trnslees io rther any of the charity's purposes. Designated funds are general funds set aside by the charity ror use in th¢ fiJtur¢. 2. OTHER TRADING ACTIVITIES Unrestricl¢d Funds Total 2023 'rolal 2022 Conacre rental income Ground rents income 4,990 4,990 5,040 1,396 4.990 4,990 6,436 3. CHARITABLE AcfiviTIES Unrestricted F'unds Total 2023 Total 2022 Donations to Cnimlin EPC Donation to other missions and Charities 30.415 4,1)00 30.415 4,000 15,871 8,000 34,415 34,415 23,871 4. OTHER EXPENDITURE Unrestricted Funds Total 2023 Total 2022 Investment portfolio management fees Legal and professional fees Governance costs Funding short-terni mission trip Gen¢ral expenses 38,618 38,618 45,172 2,039 1,920 1,297 90 1,920 J,297 90 96 41,925 41,925 47,307
THE MACKEY ESTATE (CRUMLIN EPC) NOTES TO THE ACCOUNTS (continued) 5. TANGIBLE FIXED ASSETS The tangible fixed assets of the Charity comprise of 42 acres of agriculturnl lavyd at £735.000. Details of historical costs are not available with the land b¢in8 included in the balance sheet at a current market valuation es1imated by the Trustees. No depreciation has been provided on these assets. This is viewed on an annual basis by the Trnstees. 6. INVESTMENTS 2023 2022 Opening valuation as at I" January 2023 Additions Disposals Portfolio management fees paid Movement in revalualion of portfolio ,944,l83 2,172,720 321 (20,006) (45,172) (163,680) {38.618) 182275 Closing valuation as gt 31" December 2023 2,087,840 1.944,183 The Chariry's investtnenl in the UK and worldwide markets has been included in the balance sheet at market value, based on external professional valuations. Any gains are used by the Charity for charitable puTroses therefore no tax is due on the unrealised revaluation gains. 7. FUNDS OF THE CHARITY All funds of the charity are unrestricted.