Wllllam Whlteslde And Irene Whiteside Memorial Trust Statement of fmancial activities For the year ended 30 June 2023 Restticted fiinds 2023 Total fiinds 2023 Total funds 2022 Note Income from: IThiTCStnients 215 215 323 Total income 215 215 323 Exponditure on: Cliarltable 2Ctivitie5 4,200 4,200 3,056 Total expenditure 4,200 4,200 3,056 Net expenditure before net gainsl{lossès) on investments (3,985) 566 (3,985) 566 (2,733) (1,381) Nct ga1115/(lo ) on investments sscs Ngt movement in funds (3,419) (3,419) (4.114) Rgconciliation of funds: Total ndS brouglit fonvArd Net moircmcnt in Eunds 15,350 (3,419) 15,350 (3,419) 19,464 (4,114) Total funds carried fonNard 11,931 11,931 15,350 All amounts relate to continuing operations. The Stktement of fjnancial activAties includes all gains 2nd losses recognised in tlie )Tear. Tlie notcs on pages 9 to 15 form pArt of these financial statements. Page 7
Wllllam Whiteside And Irene Whiteside Memorlal Trust Balance sheet For the year ended 30 June 2023 2023 2022 Note Fixed assets IniTestments 14,289 16.659 CAsli at bank And in l)2nd 42 851 42 851 Creditors: amounts fqlling due ivithin one year (2,400) (2.160) Ngt current liabilities (2,358) {1,309) Total net assets 11,931 15,350 Charity funds Restricted ndS io 11,931 15,350 Total funds 11,931 15,350 Tlie financlal statements haiTe been prepArcd in AccordAnce witli die pmvisions of FRS 102 Section IA enuties. siiiall Tlie fin41ncial 5tAtements ivere approved #nd authorised for issue b}, the Trustee on 29 April 2024 and signcd on theiL bcliAlf by. Cleaver Fiiltoii (rrustee) nkin Triistees Limited 'rhe notes on pAges 9 to 15 form part of these fin?ncial statements. P4e8
William Whiteside And Irene Whlteslde Memorlal Trust Notes to the fancial statements For the year ended 30 June 2023 General informatlon The IVftlliAm Ivhtteside and IIene Ivhiteside fvIemon21 Trust is an unincorpoiRted tDJSt. Its principal office is 50 Bcdlord Strcct. Bdfast, BT2 7FIV, 2nd it has a cliarity registration nwnbei of100271. Accounting pollcles 2.1 Basis of preparation of financial statements The Financial statements are prepared on a going concem basis, under tlie historical cost convention iinless othenvise noted in the accouniing policies beloiv. Tlic), IIAITe been prepslted in accordancc applicable laiv and accounting standrdS issued b}1 tlie Fin2ncial Reporung Council, including FRSI 02 'The Financial Reporting Standard Applicable in thc UK and Republic of Iieland" ("FRS102'), and tlie Statement of Recommended Practice - Accounting and Reporring b), Charities. efFectAve l J2nu2ry 2019 C'SORP,). The financial stAtement5 2re piesented irk Ster ling I The Young Fund constittites a public benefit enuty as de[ed b). FRS 102. 2.2 Going cotteem The trustees liave assessed that the Ivffliam Iylhiteside And Irene IYQlltesRde MemoIial Trust has adequate resource5 to mcct thc ongoing costs of die entity for 2 minimum of 12 montlis from tl)e date of signing the financial statements. For this ieason the Fjnancial statements l)aTrTe been piepared on a goiog concern basis ivhich psumeS tlie realisation of assets and liabilities in the nonnal course of busAness. 2.3 Income All income ts iecognised once the Trust has entitjement to the income. it is ptobkble diat the incoine vill bc rcccivcd and the amount of income receivable can be measured reliibl),. Investment income is included ivhen receiwdble. Income tsx tccoverablc in ic]ation to investment income is Ieco8ni5ed at the time die investmerLt income AS receivable. 2.4 Expendittite Expenditure is recognised once there is a leg21 or constructive obligation to transfer economic benefit to a third pRrty'. it is piobablc that a transfer of economic benefits ivffill be required In settlement and die amount of the obligation can be measured Ieliably. Expendire is classified by acttirity. Tlie costs of each Actiirlty Are made up ol the total of direct costs shrea costs, including support costs involved in uftdertaking each actiiryty. Direct Costs attributAble to a single actiiuty Ate allocated dirccd}T to that activity. Sliarcd cost5 Ivhich contribute to moIe than one 2CtilFityI 2nd support costs ivl]ich are not xtttibutable to a single actiitity, ale Apportioned bettvccn those activitie5 on a bx5is consistent ivitli tlie use of resources. Central staff costs are allocated on tlie basis of time spent. and depIeciAtion chatges allocated on the portion ol die asset's use. GoiFern2t]ce costs include those costs associated iVAth meeting tlie COnstitiOnAl And statutO4' requircnients ol dje trust. All expenditure 15 indusiiTe of irrecoverable IIAT. PJe 9
Wllllam Whlteside And Irene Whiteside Memorial Trust Notes to the fancial statements For the year ended 30 June 2023 Accounting policies {continued) 2.5 Investments Fixed Asset iniTe5tmcnt5 arc * form of finAnci&l in5truinent and are initiAll}I recogtiised at dieir transaction C05t subsequentl}I measured at fair iTalue at the BAlance shcet date, unlc5S tIIc &Talue cannot be measured retiabl}' in ivhicli ca5C It is Incasured At cost less llnp*iiLnent. Investsnent gains and losses, vlicdier Iealised oi unrealised, are combined and presented As 'Gains/(Lo ) on inircstJnent5' in tl)e 5SCS St41tement of financi%tl activlties. 2.6 Cash at bank and in hand Ca511 At bank And in Iiand includes casli and sliort-term liigljly liquid inirestments ivfjdi 2 shoit M¢1tlt], of three months ot less from dic dAtc of Acquisition oi opcning of die deposit or sitnilTrr account. 2.7 Liabilities and ptovisions Liabiltties qre recognised ivlien tliere is n obligation at tlie B114lnce slicct dqtc As a result OF A pqst ClTcnt. it is probable tliat a ttan5fcr of economic bcncfit ivill be Ieqlled in settlement, and tl)e ainount OE die sCtllent cAn be estimated reliably. LiabiIities are recognised at tlie 1mount t112t tlie Tiust 2nticipRtcs it ivill pa), to setde die debt or the mount it IS rcceived as advanced pa}pments for dic goods OK sentices it must pIoTr'ide. Proipisions are measured at the best estimate of the iinounts required to settle tlie obligAtion. Ivliere tl)e effect of the time value of moncy is matcriAI. tlic provision is based on die present value of tliose amounts. dtscounted at the pre-tax discount rate diit reflects tkie risks specific to tlie liability,. Tl)e univinding of die discount is recognised in tlie Scatement of fmancial acUIFities as a finance cost. 2.8 Flind accoiinting Geneiiil funds ate unrestticted funds ivliich are available for use li t tlie discretion of tlie Trustee in furtlierance of tl)e general objectives OE tlie Trust and Nvhich Iiqvc not bccn dcsignatcd Eor othei purposes. Rc5trActed funds are funds ivhicli are to be used in accordance ivitli spcciFic rcstrictions Amposed by donors oi ivhich have been raised by thc Trust lor particuknr purpose5. Tlie costs of raising and administering sucli funds are cliarged ?gAinst tlie specific fund. The aim and use ol each restIicted Fund is set out ia tlie notes to thc financial statement5. Page10
Wllllam Whiteside And Irene Whiteside Memorlal Trust Notes to the ffftancial statements For the year ended 30 June 2023 Critical accounting estimates and areas of Judgement Estimates And judgements re required ivlien appl)iing Accounting policics. TIIc5e Are continuall)T CITAluated 2nd are based on IustoricAI cxpcricncc And odier f2Ctois, including expectations ol future eirents tliat arc believcd to be reasonable under tl)e cCmS1nce$. Tlie trust makes e5timAte5 and assumptions concernmg tlie futuie. Ivhicli can initolve A Iiigli degree of judgeinent or complexity. Tile resulting accounting estimRtcs ivill, b}, definition, seldom cqual tlie rel%ted ctual result5. The estm2tes and assumptions tliat liave a significant iisk ol causing a Matla1 adjusttnent to die carrying amounts of assets and li2bilities ivithin die next fts]ancial ye2K are addressed beloiv. Fair value of investments Uses variou5 vsthiation techniques to deternie tlie 19ii value of fin1CIaL instruments (Ivhcrc active market quotes are not airailable) and non-financial assets. Tl)is iniTolves developing estimates and assumptions con515tent ivith lioiv market P2rucip3nts ivould the instrumcnt. The trustee bases its assuinptions on obsernTable dah R5 far as possible but diis ts not 21ivays 2i1ailable. lft di2t case. manAgement uses die best information 2vAdable. Estimated fAir v*lue5 MAY var), from die actu81 prices tliat ivould be 2cl)ieved An An arm's Icngth trkn5action at die repoiiing date. Investment income Restricted Eunds 2023 Total fiinds 2023 LASted ini'estments 215 215 Total 2023 215 215 Restsicted funds 2022 Total funds 2022 Listed investments Inirestment income- other 322 322 Total 2022 323 323 Page11
William Whiteside And Irene Whlteslde Memorlal Trust Notes to the financial statements For the year ended 30 June 2023 Analysls of expenditure on charitable activities Siimmary by fiind type Restticted fiinds 2023 Total 2023 Disbursements to beneficiary Investment expenses Legal and piofessional Eees 407 407 209 209 3,584 3,584 Total 2023 4,200 4,200 Restricted fuods 2022 Toral 2022 Disbur5cmcots to beneficiar). Investment expenses Le1 and profession21 fees 450 450 368 368 2,238 2,238 Totil 2022 3.056 -3,056 Independent examiner's remuneration 2023 2022 Fccs pa}Table to the Truses independent examiner for tlie independent eXnIntion OF tlie Trust's annual xccounts 1,800 600 Resources expended During die }reAr, no Trustees receiired an)1 remuneration P022 _ £NIL). Diiring thc }Tcar, no Ttustccs rcccivcd An). bcncfit5 in kind (2022 - £NIL). During die )rar, no Ttustees reccivcd an}r ieimbursement oFeNpenses (2022 - £NIL). A5 dctTriled Note 12, the Trustees received [nuneratiOn for Services rendered to tlie Trust Èn tlie curient year. Pa9e12
Wllllam Whlteslde And ITene Whiteside Memorial Trust Notes to the financial statements For the year ended 30 June 2023 Fixed asset Investments Listed investments Cost ot valijatio At l July 2022 Ad(litions 16,659 9.199 (12,136) 566 Disposals RevalDaUons At 30 June 2023 14,289 Net book valiie At 30 June 2023 14,289 At 30 June 2022 16,659 Creditors: Amounts falling due within one year 2023 2022 Accruals and deferIed income 2,400 2,160 Page13
William Whiteside And Irene Whiteslde Memorial Trust Notes to the financial statements For the year ended 30 June 2023 10. Statement of funds Statement of funds - current year Balance at I JiiI)' 2022 Gains/ Balatice at (Losses) 30 Jiiiic 2023 Income Expenditure Restricted fiinds Restiicted Funds - all tunds 15,350 215 (4,200) 566 11,931 Statement of funds - prior year Balance at l July 2021 Gains/ Bilance qt (Losses) 30 June 2022 Income Expenditure Restticted fiinds RestrLCted Funds - all funds 19.464 323 (3.056) (1,381) 15,350 Page 14
William Whlteslde And Irene Whlteside Memorial Trust Notes to the fancial statements For the year ended 30 June 2023 11. Analysls of net assets between funds Analysis of net assets between funds - current year Restricted fiinds Total fiinds 2013 2023 Fixed asset investments 14,289 42 14,289 42 Curient assets Creditors due ivithin one year (2,400) (2,400) Total 11,931 11,931 Analysis of net assets between funds . prior year Re5trictcd Funds 2022 Total funds 2022 Fixed asset IniStmentS 16,659 851 16,659 851 CurIent 2ssets Creditors due ivithin one srar (2.160) (2.160) Total 15,350 15,350 12. Related party transactions During the }iear to 30 June 2023. fees of £1,784 P022: £1.560) Ivere incurred to Cle2irer Fulton Rinkin solicitoIs. CleaiTCI Fulton RAnkin Trustees Limited is the sole corporatc trustcc of dic trust. Page15