Charity Registration No. NIC100314 THE KEVIN BELL REPATRIATION TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
THE KEVIN BELL REPATRIATION TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr B Bell Mr D Ruddy Mr A O'Rourke Mr B Jackson Mr C Bell Mr C Bell Mr M Carr Mr J Mccaffrey Mr K Heaney Mrs E Bell Charity number (Northern Ireland) NIC100314 Charity number {Ireland) 20102937 Principal addre55 Unit 7 Whitegates Business Park Newry Co. Down Northern Ireland BT35 6UA Auditor FPM Accountants Limited 1 3 Arthur Street Belfast Co. Antrim Northern Ireland BTI 4GA Bankers AIB 42-44 Hill Street Newry Co. Down Northern Ireland BT34 1AU Solicitors Edwards & Co. 28 Hill Street Belfast Northern Ireland BT1 2LA
THE KEVIN BELL REPATRIATION TRUST LEGAL AND ADMINISTRATIVE INFORMATION Solicitors Mason Hayes & Curran South Bank House Barrow Street Dublin 4 Co. Dublin Republic of Ireland
THE KEVIN BELL REPATRIATION TRUST CONTENTS Page Trustees, report Statement of trustees, responsibilities Independent auditor's report 12-17 Consolidated statement of financial activities 18 Con501idated balance sheet 19 Charity Statement of financial activities 20 Charity balance sheet 21 Consolidated ststement of cash flows 22 Charty statement of cash flows 23 Notes to the financial ststements 24-35
THE KEVIN BELL REPATRIATION TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 3 1 AUGUST 2023 The trustees present their annual report and audited consolidated financial statemenls for the year ended 31 August 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing documen( the Charities Act (Northern Ireland) 2008 las amended by the Charities Att (Northern Ireland) 20221 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 ènd Republic of Ireland IFRS 702)" las amended for accounting periods commencing from l January 20191. Objectives and Activltles 1.1 POLICIES & OBJECTIVES The Kevin Bell Repatriation Trust IKBRT or the Trust) is a charitable organisation estsblished in September 2013 in Memory of Kevin Bell who, at the age of 26, died tragically in New York in June 2013. Kevin's death elicited a huge response and outpouring of support by friends and farnily in the Newry area and also a5 far field as New York and Australia. The funds donated were significantly in excess of the amount that was needed, and the Bell Family chose, as part of Kevin's legacy, to establish a Charily with the purpose of assisting other people and familie5 who suffer similar tragedy abroad and who need as515tance with repatriation back to the Island of Ireland Ilreland and Northern Ireland). Assistsnce is provided regardless of background leg. race, religion, gender, disability, criminal convictions) or the circumstances of the person's death (eg. suicide, murder). The primary objectives of the trust are as follows: To provide financial assistance to relieve the financial distress or hardship of bereaved familie5 to repatriate the body lor bodies) of a loved onelsl back to the Island of Ireland. To relieve human suffering, mental anxiety and ill health and improvement of the mental and physical health and wellbeing of the members of such bereaved families by the means of providing expert support, advice and other practical, technical and logistical assistance. This support has proved to be just as, if not more, important than the financial assistance itself.
THE KEVIN BELL REPATRIATION TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 1.2 STRATEGIES FOR ACHIEVING OBJECTIVES We aim to achieve our objectives through increasing awareness of the Trust and by providing necessary support as soon as is practically possible following a request for assistance. The Trust receives applications for assistance typically from either a Trustee being contacted by a family member or friend of those centlY deceased abroad or a Trustee may make contact with the deceased's family if they become aware of a situation which has occurred. KBRT has built up a large netr40fk of foreign based community members leg. Irish Immigrant support groups, Irish cultural societies) and government officials leg. Ireland's minister for the Diaspora and the multiple Irish Consulates abroad) who raise awareness of the support available from KBRT and who also may make referrals. 1.3 AcfiviTIES FOR ACHIEVING OBJECTIVES To support KBRT'S overall objective5, requests received for assistance are dealt with immediately and Trustees are permitted to provide assistance so long as the case meets the parameters set out in the Trust's objectives and governing documents. KBRT offers full support for the deceased's family and repatriation of remains back to the151and of Ireland with the intention of doin9 so as early as quickly as possible. Depending on the country, KBRT may use specialist repatriation agents or other such Specialists in each country. In limited circumstances, KBRT receive requests for assistance oulside of the parameters of the Trust's primary objectives but in keeping with the charitable ethos of the Trust leg. paying the cost of bringing other human MaInS lor 'Ashes"I back to Irelandl. In May 2020, Trustee5 expanded the Trust Deed and approved a Policy for the types of cases. specifying the limited amounts available and process for helping in such cases. 1.4 MAIN AcfiviTIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT The Trust does not en9age in general fundraising activities. Funding is obtained through donations from individuals, groups and businesses. These donations are often as a result of fundraisers from those who have received assistance and who wish to contribute back to KBRT in memory of their recently deceased. The Trust is active on number of social media plarforms (Facebook, Twitter) which, together with its website, raises awareness of its objectives and activities. KBRT has a registered charity profile with donation websites including www.idonate.com and other similar platforms. People wishing to fundraise on behalf of. or donate to, KBRT can do so using these sites. Donations are also received through bank lodgements. www.paypal.com, cash and cheques.
THE KEVIN BELL REPATRIATION TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 3 1 AUGUST 2023 In 2018 the Trustees established a Trading Company IKBRT Trading Limited) for the sale of KBRT branded merchandise, with all shareholding and profits held for the benefit of KBRT. The primary benefit of this activity is increasing public awareness of KBRT. This company has been consolidated into these financial statements (note 61. 2. Achievements and performance 2.1 KEY PERFORMANCE INDICATORS During the year ended 31 August 2023, the Trust successfully delivered on our mi55ion to help individuals and families who have suffered a loss abroad with the repatriation of their loved ones remains to the Island of Ireland. Key achievements include.. In the 12 months to 31 August 2023, KBRT provided assistance with 258 (Prior year: 255) repatriations. FY2023 was in line with prior year11 %) and also the highest 12 month volume of repatriations in history of the Trust lup 1 % from previous highest count in FY20221. Since formation, curnulatively up to 31 August 2023, KBRT had repatriated 1,641 individuals back to the Island of Ireland. endlng 31 Au Repatriations Chan e from PY 35 50 123 157 206 200 191 166 -25 255 89 258 1,641 +lS +73 +49 Change % +4396 +146% +28% +31% -a% .516 .13% 54% 1% Repatriations per Year 300 255 258 250 206 200 200 191 157 166 150 123 50 50 35 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023
THE KEVIN BELL REPATRIATION TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 In the 12 months to 31 August 2023, KBRT provided repatriations from 36 different countries (PY'.45).' UK 119 CYPRUS USA 34 BULGARIA SPAIN 30 CHINA AUSTRALIA 13 FINLAND TURKEY POLAND FRANCE BRAZIL CANADA INDONESIA PORTUGAL MOROCCO THAILAND SWITZERLAND NETHERLANDS CROATIA GREECE GUERNSEY NEW ZEALAND LITHUANIA MALTA SIERRA LEONE GERMANY SRI LANKA ITALY SLOVENIA BELGIUM Antigua & Barbuda LUXEMBOURG SWEDEN PHILIPPINES NORWAY REPATRIATIONS IN 12 MONTHS TO AUGUST 2023 258 Since the formation of the Trust and cumulativety up to 31 August 2023, K8RT has assisted with repatriations from 73 IPY.. 691 different countries. New countries this year included NoaY, Antigua & Barbuda, Luxembourg and Slovenia. The most commonty recurring countries for repatriations are the UK17441, USA11951, Spain 11571 and Australia1113)
THE KEVIN BELL REPATRIATION TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 UK 744 LITHUANIA USA 195 MALAYSIA SPAIN 157 SOUTH AFRICA AUSTPALIA UKPAINE CANADA DENMARK FPANCE 36 DOMINICAN REPUBLIC GERMANY 31 EGYPT PORTUGAL 29 GAMBIA THAILAND 27 HUNGARY TURKEY 23 JAPAN NETHERLANDS 20 KENYA GREECE 17 LAOS NEW ZEALAND 16 NIGERIA PHIUPPINES 14 ERR4 LEONE MALTA Sfll LINKA VIETNAM 10 Antigua & Barbvda ARGENTINA CAMBODIA ITALY AZERBALJAN SAUDI APABIAIUAE 8ELGIUM BERMUDA Bosnia & Herzegovina COLUMBIA CYPRUS UULGARIA CONGO CHINA GEORGIA CZECH REPUBLIC JAKIAICA FINLAND LUXEM80URG POLAND MOLDOVA SWEDEN NEPAL AUSTRIA NORWAY BRAZIL PERU INDONESIA RUSSIA MOROCCO SiNGAPQRE SWITZERLAND SLOVSNIA CROATIA SOUTH KOREA ECUADOR TAIWAN GUERNSEY UAE INDIA UGANDA JERSE CUMULATIVE TOTAL REPATRIATIONS UP TO 31 AUGUST 2023 1,641
THE KEVIN BELL REPATRIATION TRUST TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 KBRT has repatriated bodie5 to all of the counties on the island of Ireland. The highest number of repatriations in the year to 31 Atsgust 2023 was Dublin 146), Antrim (29) and Cork {181. Since the formation of the Trust and up to 31 August 2023, the most frequent counties for repatriations have been Dublin (263), Antrim12011 and Down {1081. County FY2023 Cumulatlve Frequency Rank Dublin Antrim Cork Derry Kerry Down Mayo Tyrone Galwa Clare Limeritk Donegal Kildare Louth Tipperary Armagh Meath Waterford Westmeath Laois Sligo Wicklow Carlow Wexford Monaghan Offaly Fermanagh Leitrim Cavan Kilkennv Roscommon Longford TOTAL 46 29 18 14 13 12 li io io 263 201 99 80 51 108 59 64 63 25 77 46 33 50 38 51 34 29 15 15 34 17 14 18 20 16 io 21 13 17 12 14 io 15 19 28 28 Is 25 31 24 23 26 28 26 18 22 20 32 15 16 32 21 26 li 1.641 258
THE KEVIN BELL REPATRIATION TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 37 AUGUST 2023 2.2 REVIEW OF AcfiviTES The financial support and guidance have made a significant difference to the families and friends of the repatriated. The number of people repatriated and the gratitude expressed by their loved ones is testament to the continued success of the KBRT. These benefits are demonstrated through feedback from the families assisted, their friends and relatives and also evidenced by the fund-raising activities for the Trust they often voluntarily initiate after experiencing benefit. 2.3 INVESTMENT POLICY AND PERFORMANCE KBRT has a low risk appetite and conservative approach to investment of funds and cash management. All funds are held across several UK and Irish banks spread between current accounts and deposit account5 ranging from instant access to 5 year fixed rate. KBRT does not hold or participate in any other form of investment. 3. Financial Review 3.1 GOING CONCERN After making appropriate enquiries, the Trustees have a reasonable expectation that the Trust ha5 adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the goin9 concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policie5. 3.2 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIÉS KBRT has a low risk appetite. Due to the nature of the charitable actlvlty, the Trust is not exposed to fluctuations in foreign currencies apart from Euro. Fluctuations in the euro are mitigated by paying for invoice5 through our euro account,- these funds have arisen from euro donations received. 3.3 RESERVES POLICY The Tru5tee5 have a conservative approach to maintaining reserve5. Thi5 policy 15 reviewed on an annual basis.
THE KEVIN BELL REPATRIATION TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 3.4 PRINCIPAL FUNDING The principal funding of the organisation is by way of donations received. The Trust does not conduct general fundraising. Fundraising expenses as detailed within the financial statements relate to general merchandise and materials for raising awareness of the Trust's activities, or in some cases, items provided to people who wish to raise funds and donate to KBRT li.e. donation of a jersey to someone running a marathon). 4. Structure, governance and management CONSTITUTION There is no minimum or maximum number of Trustees. As at 31 August 2023 there were 10 Trustees formally appointed. There must be a minimum of 5 Trustees at any meeting to reglster a quorum. The Trustees must meet a minimum of twice a year. In practice the Trust meets approximately 6 times a year. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES Trustees are elected onto the Trust whenever the Trust considers it necessary. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES Trustees are selected and appointed by reference to the Trust Deed with an emphasis on ensuring dtverse professional backgrounds to aid the decision making process and to ensure that Trustees are able to perform their duties in a professional manner. ORGANISATIONAL STRucfuRE AND DECISION MAKING The Trustees art unanimou51y in dec15ion making under the terms of the Trust deed. All decisions are approved by the Trustees. RISK MANAGEMENT The Trustees have assessed the major risks to which the Trust 15 exposed and are satisfied that systems and procedures are in place to mitlgate any exposure to the major risks identified. PRINCIPAL AcfiviTIES The principal activity is to provide financial assistance, expert advice and practical support to support the repatriation of the bodies of those who die abroad in tragic or sudden circumstances.
THE KEVIN BELL REPATRIATION TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 37 AUGUST 2023 CHARITY REGULATION In addition to regulation by the Northern Ireland Charity Commission, KBRT is also a registered charity with the Charities Regulator of Ireland (charity number 201029371 and fulfil our governance and reportin9 responsibilities under this regime in parallel to the Northern Ireland Charity Commission. CHARITIES GOVERNANCE CODE During the period, KBRT continued with its govemance requirements and ongoing compliance the Irish Charity Regulators "Charities Governance Code" which became a requirement in 2020. 5. Plans for future periods 5.1 FUTURE DEVELOPMENTS The main activities of the Trust remain unchanged and the Trustees anticipate that any future development5 would relate to those activities. 5.2 FUNDS HELD AS CUSTODIAN There are no funds held as custodian. The trustees who served during the year were.. Mr B Bell Mi D Ruddy Mr A O'RoLtrke Mr B Jackson Mr C Bell Mr C Bell Mr M Carr Mr J Mccaffrey Mr K Heaney Mrs E Bell
THE KEVIN BELL REPATRIATION TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Disclosure of inforniation to auditor Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The trustees, report was approved by the Board of Trustees and signed on their behalf by-. Mr C Bell Trustee Dated.. Mr M Carr Trustee Dated.. ..l.f. 10
THE KEVIN BELL REPATRIATION TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2023 The trustees are responsible for preparing the Trustees, Report and the consolidated financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. The law applicable to charities in Northern Ireland requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these accounts, the trustees are required to: select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SQRP,. make judgements and estimates that are reasonable and prudenL state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and prepare the accounts on the going concern ba515 unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act (Northern Ireland) 2008 las amended by the Charities Act (Northern Ireland) 20221, the Charity IAccounts and Reports) Regulations 2008 and the provision5 of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 11
THE KEVIN BELL REPATRIATION TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE KEVIN BELL REPATRIATION TRUST Opinion We have audited the group and parent charity financial statements of The Kevin Bell Repatriation Trust (the 'charity'} for the year ended 31 August 2023 which comprise the consolidated and charity statement of financial activities, the consolidated and charity balance sheet the consolidated and charity statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The FinancialReporting Standardapplicable in the UKandRepublic of Ireland (United Kingdom Generally Accepted Accounting Practice), In our opinion, the financial statements.. give a true and fair view of the state of the group and parent charity's affairs as at 31 August 2023 and of their incoming resources and application of resource5, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been pPared in accordance with the requirements of the Charities Act (Northern Ireland) 2008 las amended by the Charities Act {Northern Ireland) 20221. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI (ISAS IUKI) and applicable law. Our responsibilitie5 under those standards are further described in the Auditor5 responsibilities for the audit of rhe linancial statements settion of our report. We a independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 12
THE KEVIN BELL REPATRIATION TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE KEVIN BELL REPATRIATION TRUST Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charitys ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are spOnSible for the other information contained within the annual report. Our opinion on the financial ststements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially mi5ststed. If we identify such material inconsistencies or apporent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. 13
THE KEVIN BELL REPATRIATION TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE KEVIN BELL REPATRIATION TRUST Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities Act (Northern Ireland) 2008 las amended by the Charities Act (Northern Ireland) 20221 requires us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the trustees, reporL or sufficient accounting records have not been kept-, or the financial ststements are not in agement with the accounting records-, or we have not received all the information and explanations we require for our audit. Responsibilities of trustees explained more fvlly in the statement of trustees. responsibilitie5, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for Such internal control as the trustees determine is necessary to enable the preparation of financial statements that are fe from material misstatemenL whether due to fraud or error. In preparing the financial ststements, the trustees are responsible for a55essing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 66 of the Charitie5 Act (Northern Irelandl 2008 and report in accordance with the Act and relevant regulations made or having effect thereunder. 14
THE KEVIN BELL REPATRIATION TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE KEVIN BELL REPATRIATION TRUST Our objectives are to obtain reasonable assurance about whether the fir)ancial statements as a whole are free from material misstatement whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audtt conducted in accordance with ISAS {UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. We design procedures in line with our responsibilities, outlined above, to detect rnaterial misstatements in SPect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. We obtsined an understanding of the legal and regulatory framework applicable to the company through enquiry of management sector research and the application of cumulative audit knowledge. We identified the following principal laws and regulations relevant to the trust Charities Act (Northern Ireland) 2008 (as amended by the Charities Act (Nonhern Ireland) 20221 and the 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 1021 leffertive l January 20191. We developed an understanding of the key fiaud risks to the entity (including how fraud might occur), the controls in place to help mitigate those risks, and the accounts, balances and disclosures within the financial statements which may be susceptible to management bias. Our understanding was obtained through review of the financial statements for significant accounting estimates, analysis of journal entrie5, walkthrough of the key controls cycles in place and enquiry of management. 15
THE KEVIN BELL REPATRIATION TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE KEVIN BELL REPATRIATION TRUST Our procedure5 to respond to those risks identified included, but were not limited to.. Enquiry of management, and the entitys solicitors around actual and potential litigation and claims. Enquiry of management to identify any instances of non-compliance with laws and regulations. Reviewing minutes of meetings of those charged with governance. Reviewing financial statement disclosures and testin9 to supporting documentation to assess compliance with applicable laws and gUlations. Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transaction5 Outside the normal course of busines5. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in spert of irregularitie5, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. http.'l/www.frc.org.uk/ auditorsresponsibilities. This description forms part of our audff(or's report. 18
THE KEVIN BELL REPATRIATION TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE KEVIN BELL REPATRIATION TRUST This report Is made solely to the charity's trustees, as a body, in accordance with section 65 of the Charities Act (Northern Ireland) 2008 las amended by the Charities Act (Northern Irelandl 2022} and regulation5 made under section 65 of that Act. Our audit work has been undertaken $0 that we might state to the charitys trustees those matters we a required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trL¢Stees as a body, for our audit work, for thi5 report, or for the opinions we have formed. Ictr el& 6ii/ho4A Teresa Campbell (Senior Statutory Auditor) for and on behalf of FPM Accountants Limited Chartered Accountants Ststutory Auditors 1 3 Arthur Street Belfast Co. Antrim Northern Ireland BT1 4GA 11.06.24 17
THE KEVIN BELL REPATRIATION TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Notes Income and endowments from: Donations and legacies Investments 2,495,417 12,052 5,618 1,652,041 8,148 Other Income Other Tradln Actlvltles Commercial Trading Operation5 8,607 7,651 Totsl Income 2,521,694 1,667,840 enditure on: Raising Funds Charitable activities 3,293 1,149.797 10,545 1,031,667 7.667 Commercial trading operations Total resources exp•nded 1,163,635 1,039,334 Net Income for the year/Net Incoming resources 1,358,059 628,506 Other recognized galns and losses Other gains or1055es 12 35,548 14,217 Net Movement In funds 1,393,607 642,723 Fund balances at 1 September 2022 4,139,548 3,496,825 Fund balances at 31 August 2023 5,533,155 4,139,548 All artivity is classified unrestricted. The ststement of financial artivities includes all gain5 and 1055es recognised in the year. All income and expenditure derive from continuing activities. 18
THE KEVIN BELL REPATRIATION TRUST CONSOLIDATED BALANCE SHEET ASA T31 AU6usf2023 2023 2022 Notes Fixed assets Tangible assets Investments 13 14 29,246 1,559,514 6,754 1,550,270 1,588,760 1,557.024 Current assets Stocks 16 16,110 369 3.956,435 3,972,914 17,892 379 2.595,S21 2,613,792 Debtors Cash at bank and in hand 17 Credltors.. amounts falllng due wlthln one year 18 128,5191 (31,2681 Net cUrnt assets 3,944.395 2,582,524 Total assets less current liabilities 5,533,155 4,139,548 Income funds Unrestricted funds 5,533,155 4,139,548 5,533,155 4,139,548 The financial statements were approved by the Trustees on Ii..., fu.rte 202 Mr C Bell Trustee Mr M Carr Trustee 19
THE KEVIN BELL REPATRIATION TRUST CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Notes Income and endowments from: Donations and legacies Investments Activities for Generating Funds 2,495,417 1,652,041 12,052 8,148 5,618 Total income 2,513,087 1,660,189 enditure on: Raising funds 3,293 Charitable activities 1,149,797 1,031,667 Total resources expended 1,153,090 1,031,667 Net income for the yearl Net incoming resources 1,359,997 628,522 Other recognised gains and losses Other gains or losses 12 35,548 14,217 Net movement in funds 1,395,545 642,739 Fund balances at 1 September 2022 4,139,935 3.497,196 Fund balances at 31 August 2023 5,535,480 4,139,935 All attivity is classified as unrestricted. The statement of financial activities includes all gain5 and losses recognised in the year. All income and expenditure derive from continuing activities. 20
THE KEVIN BELL REPATRIATION TRUST CHARITY BALANCE SHEET ASAT31 AUGUST2023 2023 2022 Notes Fixed assets Tangible assets Investments 29,246 1,559,514 6,754 1,550,270 14 1,588,760 1,557,024 Current assets Debtors Cash at bank and in hand 17 34,279 3,940,960 34,289 2,579,890 3,975,239 2,614,179 Credltors: amounts falling due within one year 18 {28,5191 {31,2681 Net current assets 3,946,720 2,582,911 Total assets less current liabilities 5,535,480 4,139,935 Income funds Unrestricted funds 5,535,480 4,139,935 5,535,480 4,139,935 The financial statements were approved by the Trustees on Mr C Bell Trustee Mr M Carr Trustee 21
THE KEVIN BELL REPATRIATION TRUST CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Note5 Cash flows from operating artivlties Cash generated from operations 21 1,378,153 650,3315 Investing activities Purchase of tangible fixed assets Proceeds on disposal of tangible fixed a55ets Investment income received 127,7501 17151 10,250 261 338 Net cash (used In)/generated from Investing activities 117,239) 13771 Net cash used in financln9 actlvitles 1,000 Net Sncrease In cash and cash equlvalents 1,360,914 650,954 Cash and cash equivalents at beginning of year 2,595,521 1,944,567 Cash and cash equivalents at end of year 3,956,435 2,595,521 22
THE KEVIN BELL REPATRIATION TRUST CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Notes Cash flows from operating artivities Cash generated from operations 21 1,378,309 648,545 Invèsting activities Purchase of tangible fixed assets Proceeds on disposal of tangible fixed assets Investment income received 127,750) (7151 10,250 261 338 Net cash {u5ed in)/generated from investing activities {17,239) (377) Net cash used in financing activities Net increase in cash and cash equivalents 1,361,070 648,168 Cash and cash equivalents at beginning of year 2,579,890 1,931,722 Cash and cash equivalents at end of year 3,940,960 2,579,890 23
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng pollcles Charlty infomiation The Kevin Bell Repatriation Twst meets the definition of a public benefit entity under FRS 102. 1.1 Accounting convention The accounts have been prepared in accordance with the charity's governing document, the Charities Act (Northern Ireland) 2008 (as amended by the Charities Act (Northern Ireland) 2022) 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 IFRS 1021. las amended lor accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterlin9. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 1.2 Going concem At the time of approving the financial statements, the tnjstees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accountin9 in preparing the financial statements. 1.3 Charltsble funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. 1.4 Incoming resources Income is recognised when the group is le9ally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on ceIpt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donation5 received under Gift Aid or deeds of covenant is recognised at the time of the donation. Group financial statements.. The financial statements consolidate the result5 of the charity and its subsidiary KBRT Trading Ltd. 24
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies (Continued) 1.5 Resources expended Expenditure is recognised once the is a legal or constrLÈCtive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Charitable expenditure comprises those costs incurred by the charity in the delivery of it's activities and services for its beneficiaries. It includes both cost5 that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Irrecoverable VAT is charged as a cost against the activity for which the expenditure wa5 incurred. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at Cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Fixtures and fittings Computers Motor vehicles 25% Reducing Balance 33% Straight Line 25% Straight Line 1.7 Flxed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/lexpenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tsngible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exist5, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss {if any). 1.9 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-tem liquid investments with original maturitie3 of three months or le55, and bank overdrJft5. Bank overdraft5 are shown within borrowings in current liabilities. 25
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies (Continued) 1.10 Financlal instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Settion 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance Sheet when the charity be£ome5 party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to alise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances. are initially measUd at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipt5 discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liathlifyes Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitute5 a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised c05t, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been aCqUid in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilitie5 Financial liabilities are derecognised when the chartys contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 26
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 1.12 Retlrement benefit5 Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Crltlcal accountlng estimates and judgements In the application of the charity's accounting policies, the trustees are Tequired to make judgements, estimates and assumptions about the carrying amount of assets and liabilities 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 relevant, Actual results may differ from these estimates. The estimate5 and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There are no critical judgements in applying the group's accounting policies. Donatlons and legacles Unrestrlcted Unrestricted funds funds 2023 2022 Donations and gifts 2,495,417 1,652,041 Investments Unrestrfcted Unrestricted funds fijnds 2023 2022 Income from listed investments Interest receivable 11,791 261 8,148 12,052 8,148 27
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 37 AUGUST 2023 Unrestricted Unrestricted Other Income funds funds 2023 2022 Net gain on disposal of tangible fixed assets 5.618 Other trading activities The trading subsidiary of the charity KBRT trading Ltd is incorporated in the united Kingdom {company number N1640236) 2023 2022 Turnover 8,607 19,683) (8621 7,651 16,037) 11,630) Cost of sales Administrative expense5 Net ProfiVILoss} 11,9381 116) Share capitsl and reserves 12.3251 116) 28
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR fHE YEAR ENDED 37 AUGUST 2023 Raising funds 2023 2022 Fundraising and publicity Fundraising Expenses 746 Investment management 2,547 3,293 Charitable activities Unrestrirted Unrestricted Funds 2023 Funds 2022 Staff costs Depreciation and impairment Repatriation Expenses Discretionary Contributions Travel & Subsistence InsLtrance Office Expenses Bank Charges Legal and Professional Expenses 13,489 626 1,068,635 1000 44,049 1,702 7,681 3,907 1,708 10,166 6,238 969,243 4,100 22,792 1,247 8,609 3,272 1,143,797 1,025,607 Share of governance cost5 (see note 9) 6,000 6,000 1,149,797 1,031,667 29
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Support costs Support Governance osts costs 2023 Support Governance costs costs 2022 Audit fees 6,000 6,000 6,OiXJ 6,000 6,000 6,000 6,000 6,000 Analysed between Charitable activities 6,000 6,000 6,000 6,000 Governance costs includes payments to the auditors of £6,OC%) (2022 - £6,000) for audtt fee5. 10 Trustees None of the tnjstees {or any persons connected with them) received any remuneration or benefits from the charity during the year12022.' £nill, neither were they reimbursed expenses during the year {2022: £nill. 11 Employees The average monthly number of employees during the year was: 2023 Number 2022 Number Employment Costs 2023 2022 Wages and salaries Other pension costs 12,511 978 9,228 938 13,489 10,166 30
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 3 1 AUGUST 2023 12 Other gain5 or losses Unrestricted Unrestricted funds funds 2023 2022 Foreign exchange gains {35,$48) 114,2171 13 Tangible fixed assets {Group and Charlty) Flxtur•$ •nd frttlngs Comput•rsMotor ¥•hl¢l•i Totsl Cost At 1 September 2022 Additions Disposals 8,532 715 22,239 27,750 122,2391 31,486 27,750 {22,239) At 31 August 2023 8,532 715 27,750 36,997 Depreciation ¥nd impairment At 1 September 2022 Depreciation charged in the year Eliminated in respect of disposals 6,967 391 157 236 17,607 24,731 627 117,607) (17,607) At 31 August 2023 7,358 393 7,751 Carrying amount At 31 August 2023 1,174 322 27,750 29,246 At 31 August 2022 1,565 558 4,631 6,754 31
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 14 Ftxed asset investments (Group and Charity) Llsted nvestments Cost or valuatlon At 1 September 2022 Valuation changes 1,550,270 9,244 At 31 August 2023 1,559,514 Carrylng amount At 31 August 2023 1,559,514 At 31 August 2022 1,550,270 The fixed asset Investments at the year-end are held on deposit wlth tha bank. 15 Flnancial instruments Group 2023 Charlty 2023 2022 2022 Fair value through profit or loss Fixed asset investments 1,559,S14 1,550,270 1,559,514 1,550,270 1,559,514 1,550,270 1,559,514 1,550,270 Flnancial assets held at amortlsed cost Cash at bank and in hand 3,956,435 2,595,521 3,940,960 2,579,890 33,914 33,914 Other debtors 3,956,439 2,595,525 3,974,874 2,613,804 Financial liabilttles held at amortlsed cost Other creditors 21,468 24,452 21,468 24,452 21,468 24,452 21,468 24,452 32
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 16 Stock 2023 2022 Stock 16,110 17,892 There was no stock in the charity. 17 Debtor5 Amounts falling due within one year: Group 2023 2022 Charity 2023 2022 Other debtors Prepayments and arUed income 33,914 365 33,914 375 365 375 369 379 34,279 34,289 18 Creditors: amounts falling due within one year Group 2023 Charity 2023 2022 2022 Other taxation and social security Other creditors 137 53 137 53 21,468 6,914 28,519 24,452 21,468 24,452 6,763 6,914 6,763 31,268 28,519 31.268 Accruals and deferred Income 19 Analysis of net assets between funds Group Unrestricted Unrestrirted Fund Fund 2023 2022 Fund balance5 at 31 AugLJSt 2023 are represented by.. Tangible assets Investments 29,246 1,559,514 3,944,395 5,533,155 6,754 1,550,270 2,582,524 4,139,S48 Current assetsllliabilities) 33
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 19 Analysis of net assets between funds Charity Unrestrirted unstrICted Fund 2023 Fund 2022 Fund balances at 31 August 2023 are represented by.. Tangible assets Investments Current assets/{liabilities) 29,246 1,559,514 3,946,720 6,754 1,550,270 2,582,911 5.535,480 4,139,935 20 Related party transactions Transartions with related parties During the year the charity entered into the following transactions with related parties.. The Kevin Bell Repatriation Trust entered into transactions Wlth the related party "KBRT Trading Ltd" At the year end a balance of £33,214 12022 £33,214) was owed to The Kevin Bell Repatriation TrusL The Kevin Bell Repatriation Trust owns and controls KBRT Trading Limited via shareholding in Trust. 21 Cash generated from operations 2023 2022 Surplus for the year 1,358,059 628,506 Adjustments for- Investment income recogni5ed in ststement of financial activities Foreign exchange differences Gain on disposal of tangible fixed assets Depreciation and impairment of tangible fixed assets Movement on investments 12611 35,$48 15,618) 626 13381 14,217 6,238 15,2701 {9,244) Movement5 in working capital: Decreaselllncreasel in Stocks Decreasellincreasel in debtors IDecreasel/increase in creditors Cash generated from operations 1,782 10 1,802 19481 1,375,762 646,005
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 22 Analysi5 of changes in net fund5 The charity had no debt during the year. 35