**REGISTERED CHARITY NUMBER: SC038264** Trustees' Report and Unaudited Financial Statements for the Year Ended 31 August 2024 for The Logos Trust ASC Wylie UBU Ltd Qualified Accountants, Tax & Business Advisors 7 Lisburn Street Royal Hillsborough Co. Down BT26 6AB The Logos Trust Contents of the Financial Statements for the Year Ended 31 August 2024 ||Page| |---|---| |Trustees' Report|1 to 2| |Independent Examiner's Report|3| |Statement of Financial Activities|4| |Balance Sheet|5| |Notes to the Financial Statements|6 to 12| |Detailed Statement of Financial Activities|13| The Logos Trust Trustees' Report for the Year Ended 31 August 2024 The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The purposes of the Trust are: (1) to promote the provision of schools and educational Facilities (2) to relieve poverty, the alleviation of hunger and disease in the Republic of Cyprus and elsewhere throughout the world and (3) to further the work of an Institute of Learning known as The Logos Educational Institute. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** Funds during the financial year were contributed to the funding of pupils at the Logos Educational Institute in Cyprus to advance their learning and educational need. These pupils would otherwise not be able to attend the Institute due to financial constraints. ## **FINANCIAL REVIEW** ## **Financial position** During the financial year, the incoming resources were £111,585, (2023 - £72,142) and outgoing resources were £60,834 (2023 - £122,550). The assets of the Trust consist of all donations, legacies, other monies and all interest earned. The Trustees have power to apply the Funds in the attainment of the purpose of the Trust and in so far as any such income is not utilised in any one year, the trustees will retain it to be used in the subsequent years. ## **FUTURE PLANS** The long-term aspiration of the Trustees is to see the Logos School operate from a new premises, offering an excellent and modern education experience. However, medium-term plans are to continue upgrading and refurbishing the existing premises to meet the compliance requirements with statutory regulations. The programme of building improvement works is to be undertaken over the next few years as funds allow. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** Logos Trust UK was constituted under Declaration of Trust on 24 May 1971. The Trustees shall hold the Trust Fund exclusively for the charitable purpose as set out below. The Charity is registered with the Charity Commission under number 262771 and with OSCR under number SC038264 ## **Recruitment and appointment of new trustees** The Trust endeavours to ensure that the Trustees are from a variety of professions and backgrounds, each bringing valuable experience to the management of the Trust. Appointment as a Trustee is by invitation from the existing Trustees. Upon invitation the individual is provided with the opportunity to read the Declaration of Trust to familiarise themselves with the responsibilities expected from them of holding the post. As necessary the Trust will seek guidance from qualified professionals and OSCR to enable them to fulfil their responsibilities. Page 1 The Logos Trust Trustees' Report for the Year Ended 31 August 2024 ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** SC038264 ## **Principal address** 3 Carsons Mews Ballygowan Down BT23 5GA ## **Trustees** CP Clarke DM Woodside D McQuillan J Ross JWM Howe P Ross S Brown D McClean P Davison A Entwistle JA Aiken (deceased 21/5/2024) N Agnew S Scammell (appointed 1/9/2023) G Love (appointed 1/9/2023) ## **Independent Examiner** Arnold Wylie FCA BA(Hons) Accountancy ASC Wylie UBU Ltd Qualified Accountants, Tax & Business Advisors 7 Lisburn Street Royal Hillsborough Co. Down BT26 6AB Approved by order of the board of trustees on ............................................. and signed on its behalf by: **----- Start of picture text -----**
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................................................................. DM Woodside - Trustee Page 2 Independent Examiner's Report to the Trustees of The Logos Trust I report on the accounts for the year ended 31 August 2024 set out on pages four to twelve. ## **Respective responsibilities of trustees and examiner** The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. ## **Basis of the independent examiner's report** My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention : - (1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and - to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Arnold Wylie FCA BA(Hons) Accountancy The Institute of Chartered Accountants in Ireland ASC Wylie UBU Ltd Qualified Accountants, Tax & Business Advisors 7 Lisburn Street Royal Hillsborough Co. Down BT26 6AB Date: ............................................. 28/05/2025 Page 3 ## The Logos Trust ## Statement of Financial Activities ## for the Year Ended 31 August 2024 |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
110,082
**EXPENDITURE ON**
**Charitable activities**
3
Governance Costs
1,772
Direct charitable activity
52,983
Support Costs
4,576
**Total**
59,331
Net gains on investments
-
**NET INCOME**
50,751
**RECONCILIATION OF FUNDS**
Total funds brought forward
333,650
**TOTAL FUNDS CARRIED FORWARD**
384,401|Restricted
fund
£
1,503
-
1,503
-
1,503
-
-
-
-|2024
Total
funds
£
111,585
1,772
54,486
4,576
60,834
-
50,751
333,650
384,401|2023
Total
funds
£
72,142
7,376
115,174
-
122,550
62,906
12,498
321,152
333,650| |---|---|---|---| The notes form part of these financial statements Page 4 ?024 ?023 UDrestri¢ted Re￿nCIed fund fimds fund5 InN'eSm￿ts 242,861 24? 861 242.861 CURRENT ASSETS Cash at ballk 80212 79.541 CRED￿oRs Atnounts f￿ltig Nithin year io (1.578) (1.578) (1.2XJ) NET CURRE1￿ ASSETS 78.634 78.634 78.291 TOTAL LSSETS LESS CLTRRLYT LL4BILITIES 321,495 3?1,495 321.152 NET ASSETS 311.495 321,495 321,152 li Unrestricted funds 321.495 321.152 TOTAL FbryDS 321.495 3?I,15? The financial statements were approN'ed by the Bwd of Tn￿ aDd authorised is5￿ on 1310512025 .. aDd were sxgned on its behalf by." arke- Tntstee A Enttvistle- TrU￿Ce D bq¢Ciean- T￿￿1¢¢ The notes formpan of these fU￿￿￿al sthten)ents ge5 The Logos Trust Notes to the Financial Statements for the Year Ended 31 August 2024 ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. continued... Page 6 The Logos Trust Notes to the Financial Statements - continued for the Year Ended 31 August 2024 |**2.**
**DONATIONS AND LEGACIES**
2024
£
Gifts
111,585
**3.**
**CHARITABLE ACTIVITIES COSTS**
Grant
funding of
activities
Support
Direct
(see note
costs (see
Costs
4)
note 5)
£
£
£
Governance Costs
-
-
1,772
Direct charitable activity
51,983
2,503
-
Support Costs
(6,187)
-
10,763
45,796
2,503
12,535
**4.**
**GRANTS PAYABLE**
2024
£
Direct charitable activity
2,503
**5.**
**SUPPORT COSTS**
Information
Governance
Management
technology
costs
£
£
£
Governance Costs
-
-
1,772
Support Costs
4,576
6,187
-
4,576
6,187
1,772||2023
£
72,142
Totals
£
1,772
54,486
4,576
60,834
2023
£
61,400
Totals
£
1,772
10,763
12,535| |---|---|---| ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. continued... Page 7 The Logos Trust Notes to the Financial Statements - continued for the Year Ended 31 August 2024 ## **6. TRUSTEES' REMUNERATION AND BENEFITS - continued** ## **Trustees' expenses** During the year ended 31 August 2024, trustees expenses totalling £4,038 were reimbursed (2023 - £1,753). |**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
fund
fund
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
68,942
3,200
**EXPENDITURE ON**
**Charitable activities**
Governance Costs
7,376
-
Direct charitable activity
111,974
3,200
**Total**
119,350
3,200
Net gains on investments
62,906
-
**NET INCOME**
12,498
-
**RECONCILIATION OF FUNDS**
Total funds brought forward
321,152
-
**TOTAL FUNDS CARRIED**
**FORWARD**
333,650
-|Total
funds
£
72,142
7,376
115,174
122,550
62,906
12,498
321,152
333,650| |---|---| continued... Page 8 The Logos Trust |Notes to the Financial Statements-continued
for the Year Ended 31 August 2024
**8.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 September 2023 and
31 August 2024
**DEPRECIATION**
At 1 September 2023 and
31 August 2024
**NET BOOK VALUE**
At 31 August 2024
At 31 August 2023
**9.**
**FIXED ASSET INVESTMENTS**
LEIT Investment
This investment is located in Cyprus.
Investments (neither listed nor unlisted) were as follows:
Logos Ed Institute Ltd
Revaluation|2024
£
305,767
2024
£
475,418
(169,651)
305,767|Computer
equipment
£
8,246
8,246
-
-
2023
£
305,767
2023
£
475,418
(169,651)
305,767| |---|---|---| continued... Page 9 The Logos Trust ## Notes to the Financial Statements - continued for the Year Ended 31 August 2024 |**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**11.**
**MOVEMENT IN FUNDS**
At 1/9/23
£
**Unrestricted funds**
General fund
333,650
**TOTAL FUNDS**
333,650
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
110,082
**Restricted funds**
Specific fund
1,503
**TOTAL FUNDS**
111,585
**Comparatives for movement in funds**
At 1/9/22
£
**Unrestricted funds**
General fund
321,152
**TOTAL FUNDS**
321,152|2024
2023
£
£
1,578
1,300
Net
movement
At
in funds
31/8/24
£
£
50,751
384,401
50,751
384,401
Resources
Movement
expended
in funds
£
£
(59,331)
50,751
(1,503)
-
(60,834)
50,751
Net
movement
At
in funds
31/8/23
£
£
12,498
333,650
12,498
333,650| |---|---| continued... Page 10 The Logos Trust Notes to the Financial Statements - continued for the Year Ended 31 August 2024 ## **11. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|68,942|(119,350)|62,906|12,498| |**Restricted funds**||||| |Specific fund|3,200|(3,200)|-|-| |**TOTAL FUNDS**|72,142|(122,550)|62,906|12,498| |A current year 12 months and prior year 12 months combined position is as follows:||||| |**Unrestricted funds**||At 1/9/22
£|Net
movement
in funds
£|At
31/8/24
£| |General fund||321,152|63,249|384,401| |**TOTAL FUNDS**||321,152|63,249|384,401| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Specific fund
**TOTAL FUNDS**|Incoming
resources
£
179,024
4,703
183,727|Resources
expended
£
(178,681)
(4,703)
(183,384)|Gains and
Movement
losses
in funds
£
£
62,906
63,249
-
-
62,906
63,249| |---|---|---|---| continued... Page 11 The Logos Trust Notes to the Financial Statements - continued for the Year Ended 31 August 2024 ## **12. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 August 2024 other than as noted in Note 6. Page 12 The Logos Trust |Detailed Statement of Financial Activities
for the Year Ended 31 August 2024
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Gifts
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Learning materials and exams
Schoolwear
Donations
**Support costs**
**Management**
Training Costs
Travel
Accreditation fees
Repairs and maintenance
Postage and stationery
Sundries
**Information technology**
School Management System
**Governance costs**
Accountancy and legal fees
Bank Charges
Total resources expended
**Net income/(expenditure)**|2024
£
111,585
111,585
44,984
812
2,503
48,299
-
3,930
-
646
-
-
4,576
6,187
1,742
30
1,772
60,834
50,751|2023
£
72,142
72,142
32,452
21,322
61,400
115,174
465
2,371
102
-
3,064
100
6,102
-
1,244
30
1,274
122,550
(50,408)| |---|---|---| This page does not form part of the statutory financial statements Page 13