Charlty reglstratlon number NIC100314 {Northern Ireland) THE KEVIN BELL REPATRIATION TRUST ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
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 Irolandl NIC100314 Charlty number (Ireland) 20102937 Prlncipal address Unit 7 Whitegates Business Park Newry Co. Down Northern Ireland BT35 6UA Audltor AAB Group Accountants Limited 1 3 Arthur Street Belfast Co. Antrim Northem Irèland BT14GA Bankers AIB 42-44 Hill Street Newry Co. Down Northern Ireland BT34 1AU Solicitors Edwards & Co. 28 Hill Street Belfast Northem Ireland BT12LA Soli¢ltors Mason Hayes & Curran South Bank House Barrow Street Dublin 4 Co. Dublin Republic of Ireland
THE KEVIN BELL REPATRIATION TRUST CONTENTS Page Trustees, report Independ6nl auditor's report 9-11 Consolidated statement of financial activities 12 Consolidated balan¢8 sheet 13 Charity statement of flnancial activities 14 Charity balance sheet 15 Consolidated statement of cash flows 16 Charlly stalemenl of cash flows 17 Notes lo the flnanclal statements 18-27
THE KEVIN BELL REPATRIATION TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The trustees present their 8nnual report and audited financial statements for the year ended 31 August 2024. Tre accounts have been prepared in a¢¢ordance with the accounting policies set out in note 2 to the accounts and comply with the charity's goveming document, the Charities Act (Northern Ireland) 2008 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitl8s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}" (as amended for accounting periods commencing from 1 January 20191. Objectives and activities The Kevin Bell Repalrialion Trust {KBRT or the Trust) is a charitable organisation established 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 huge response and outpouring of support by friends and family in the Newry area and also as far afield 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, lo establish a Charity with the purpose of assisting other people and families who suff8r similar tragedy abroad and who need assistanc8 With repatriation back to the Island of Ireland Ilreland and Northem Irelandl. Assistance is provided regardless of background (eg. race. religion, gender. disability, Criminal conviction5) or the circumstances of the person's death (eg. Suicide. murder). The primary objectives of the trust are a8 follows.. To provide financial assistance to relieve the financial distress or hardship of bereaved families lo repatriate the body lor bodies) of a loved onelsl back lo 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, advicg and other practical, technical and logislical assistance. This support has proved to be just as. if not more, irnportant than the financial assistance itself. STRATEGIES FOR ACHIEVING OBJECTIVES We aim lo achieve our objectives through increasing awareness of the Trust and by providing necessary support as soon as is practically possible follow¢ng a request for assistance. The Trust receives application5 for assistance typically from either a Trustee being contacled by a family member Of friend of those recently 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 neork of foreign based community members leg. Irish Immigrant support groups. Irish cultural socieliesl and government officials leg. Ireland's minister for the Diaspora and the multiple Irish Consulates abroad} who raise awareness of Ihe support available from KBRT and who also may make ferraIs. ACTIVITIES FOR ACHIEVING OBJECTIVES To sUPPOrt K8RT's overall objectives, requests received for assistance are dealt with immediately ar¥d Trustees are permitted lo provide assistance so long as the case meets the paramelers set out in the Trust's objectives and goveming documents. KBRT offer full support for the organisation and repalriab'on of remains back lo the Island of Ireland with the intention of doing so as early as quickly as possible. Depending on the country, KBRT may use speGialist repatriation agents or other such specialists in each country. In limited circumstances. KBRT receive requests for as8lStance outside of the parameters of the Trusts primary objectives but in keeping with the charitable ethos of the Trust {eg. paying the cost of bringing other human remains lor 'Ashes") back to Irelandl. In May 2020, Trustees 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.
THE KEVIN BELL REPATRIATION TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT The Trust does not engage in general fundraising activities. Funding is obtained through donations from individuals, groups and businesses. These donations are often as a result of fundraisers or 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 ils objectives and aclivilies. KBRT has a registered Charity profile with donation websites including www.idonale.com and other similar platfomis. People wishing lo fundraise on behalf of. or donate to, KBRT can do so using these sites. Donations are also received through bank lodgements, www. cash and cheques. In 2018 the Trustees established a Trading Company IK8RT Trading Limited) for the sale of KBRT branded merchandise, wilh all shareholding and profits held for the benefit of KBRT. The primary benefit of this activity is in¢reaslng public awareness of KBRT. Achievements and porformance KEY PERFORMANCE INDICATORS During the year ended 31 August 2024, the Trust successfully delivered on our mission to help individuals and families who have suffered a loss abroad wrth the repatriation of their loved ones remains to the Island of Ireland. Key achievemenls include.. In Ihe 12 monlhs lo 31 August 2024 IFY2024), KBRT provided assistance wth 296 {Prior year: 2581 repatriations. FY2024 was up 160h from with prior year and also the highest 12 month volume of repatrialions in history of the Trust (recorded in FY20231. Since forfflalion, cumulatively up to 31 August 2024, KBRT had repatriated 1,939 individuals back lo the Island of Ireland. ear endlng ust... Repalrialions han efromPY hange /• IB 011 018 019 35 50 +15 43Yo 123 73 1460 157 206 +49 31010 200 191 166 25 55 58 298 +40 16¥. 1,939 280 30 Repatriations per Year 298 255 258 206 200 191 21x1 157 166 150 123 Ic 35 50 Ff20J4 Ff2015 FY2016 FY2017 Ff2018 FYI019 Ff2020 Ff2021 FY2022 ff1023 F024
THE KEVIN BELL REPATRIATION TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 In the 12 months to 31 August 2024, KBRT assisted repatriations from 43 different countriès IPY.'361. see table below.. atriatlon Coun FY2024 134 35 Re atriatlon Coun BULGARIA CHINA COLUMBIA GEORGIA GERMANY GUATAMALA INDIA INDONESIA KYRGYZSTAN MALAYSIA MALTA MOLDOVA ROMANIA SLOVAKIA ANZANIA UKRAINE Morocco Liberia UAE Burundl unisia FY2024 USA PAIN USTRALIA URKEY PQRTUGAL CANADA FRANCE AMBODIA YPRUS EGYPT REECE NETHERLANDS NEW ZEALAND HAILAND BELGIUM ERSEY MEXICO PERU SWITZERLAND eria 21 USTRIA REPATRIATIONS IN 12 MONTHS TO AUGUST 2024 298 Since the formalion of the Trust and cumulatively up lo 31 August 2024. KBRT has 8SSiSted wilh repatriations from 81 IPY.. 73) different countries. sée table below. New countries thls year Included Guatemala, Kyrgyzstan, M8xlco, Romania, Slovakla, Tanzanla, Liberia, Burundi. Tunisia The most commonly recurring countries for rep81rialions are the UK18781. USA12301, Spain (1911 and Australla (1341. umula ounty umulativ8 UK USA SPAIN USTRALIA ANADA FRANCE PORTUGAL ERMANY HAILAND 878 230 191 134 LITHUANIA SOUTH AFRICA PERU DENMARK DOMINICAN REPUBLIC GAMBIA HUtyJGARY JAPAN KENYA 34 32 30
THE KEVIN BELL REPATRIATION TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 URKEY NETHERLANDS GREECE NEW ZEALAND PHILIPPINES MALTA AMBODIA IETNAM UAE YPRUS BELGIUM ITALY ULGARIA HINA CZECH REPUBLIC SWITZERLAND FINLAND POLAND WEDEN USTRIA INDONESIA MOROCCO ERSEY EGYPT BRAZIL INDIA MALAYSIA UKRAINE NIGERIA CROATIA ECUADOR GUERNSEY UMULATIVE TOTAL REPATRIATIONS UP TO 31 AUGUST 2024 LAOS SIERRA LEONE SRI LANKA OLUMBIA EORGIA MOLDOVA MEXICO ua & 8aTbuda RGENTINA ERBAIJAN BERMUDA Bosnia & Herze CONGO JAMAICA LUXEMBOURG NEPAL NORWAY RUSSIA SINGAPORE SLOVENIA SOUTH KOREA AIWAN UGANDA GUETAMALA KYRGYZSTAN ROMANIA SLOVAKIA ANZANIA LIBERIA BURUNDI UNISIA 20 19 14 11 11 10 10 10 ovina 1.939
THE KEVIN BELL REPATRIATION TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 KBRT has repatrialed bodies to all of the counties on the island of Ireland. The highest numbèr of r8palriations in the year to 31 August 2024 was Antrim1461, Dublin (441 and Cork1181. Since the formation of the Tnjst and Ltp to 31 August 2024, the most frequent counties for repalrialions h8ve been Dublin1307). Anlrim12471 and Down {1231. ounty FY2024 umulative umulalive Rank nlrlm Dublin Cork own Don8gal imerick 47 307 117 123 18 15 14 13 12 11 10 io 10 11 90 71 75 90 ron8 Der alway rma lare estmeaih Ippera Meath Lon ford Ker 10 20 22 14 15 18 57 12 16 19 13 17 18 alerlord Louth Kildare avan 35 55 37 Laois Fermana Carlow Mona han exford icklow Kilkonny Roscornmon Offal Leitrim OTAL 19 19 18 23 21 22 26 22 21 31 31 23 27 17 17 98
THE KEVIN BELL REPATRIATION TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 REVIEW OF ACTIVITES The financial support and guidance have made a signifiGanl differencè to th6 families and friends of the rep8lriated. The numbèr of people repatriated and the gratitude expressed by their loved on8s is testament lo th8 conllnued success of the KBRT. These benefits are demonslraled 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. INVESTMENT POLICY AND PERFORMANCE KBRT has a low rlsk appetite and conseNatSve approach to investment of funds and cash management. 1 funds arè hèld across sev8ral UK and Idsh banks spread between current accounts and deposll accounts ranglng from Instant access lo S year fixed rate. KBRT does not hold or participate in any other form of Inveslment. Flnanclal rovlew GOING CONCERN After making appropriate 6nquiries. the Trustees have a reasonabl8 expectation that the Trust has adequate resources lo continue in operational existence for the for8se8able future. For Ihis re880n they continu6 to adopt the going concern basis in preparing the financial slalemenls. Further details regarding the adoption of the going concern basis can be found In the Accounting Policies. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES KBRT has a low risk appetite. Due lo the nature of the charllable aclivlly, the Trust is not exposed to fluctuations in foreign currencies apart from Euro. Fluclualions in the euro are miligaled by paying for Invoices through our euro account. these funds have arisen from euro donatlons recelved. Reserves Pollcy Thè Trustèes have a consarvallve approach lo malnlalning reseNes. Al year end 31 August 2024, total reserves were £6,981,284 IFY23'. £5,533,155>. All reserves are classified as unreslricled. Al year end 31 August 2024, th8r8 were a total of £6.959m In frae reserves. Thls policy Is revSew8d on an annual basis. PRINCIPAL FUNDING The prlnclpal fundlng of the organlsatlon Is by way of donallons recelved. Tho Trust does not conduct general fundraising. Fundraising expenses as detailed within the financial slalemenls re181e lo general merchandise and malerlals for ralslng awareness of the Trust's activities. or In some cases. items provided to people who wlsh to raise funds and donate lo KBRT (l.e. donation of a jersey to someone running a maralhonl.
THE KEVIN BELL REPATRIATION TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Structure, governance and management CONSTITUTION There is no minimum or maximum number of Truslees. As at 31 August 2024 there wefe 10 Tnjslees formally appointed. There must be a minimum 015 Trustees al any meeting lo r89iSter 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 onlo the Trust whenever the Trust consldors it necessary. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES Trusl88s are s8lect8d and appointèd by ref8r8nc8 to the Trust Deed with an emphasSs on ensuring dlverse profassional backgrounds lo ald the d8clslon making process and lo ènsur8 that Trustees ar8 able lo perform their duties in a professional manner. ORGANISATIONAL STRUCTURE AND DECISION MAKING The Kevin Bell Repatriation Trust by virtue of common Tru3lees and power to govern operations. controls the activities of KBRT Trading Lld, which has the objective of raising funds for The Kevin Bell Repatriation Trust. The Trustees act unanimou$ly in decision making under the terms ol the Trust deed. All decisions are approved by the Trustees. RISK MANAGEMENT Th8 Trustèes hav8 assessed the malor rlsks to which the Trust 16 8xposod and are sallsfied thal systems and procedures are In place to mlllgate any exposure lo the major rfsks Idenlified. PRINCIPALACTIVITIES The principal activity is lo provide financial assistance. expert advice and practical support lo support the repatriation of the bodies of those who die abroad in tragic or sudden circumstances. CHARI REGULATION In addllion to regulation by the Northem Ireland Charity Commission, KBRT is also a registered charity with the Charities Regulator of Ireland Icharily number 201029371 and fvlfil our governance and reportlng responsibilities under this regime in parallel to the Northern Ireland Charity Commission. CHARITIES GOVERNANCE CODE During the pèriod, KBRT furthered ils governance prooesses. documentation, and evidence of ¢omplianco with the Insh Charity Regulators 'Charilies Goveman¢e Code" which b8came a requirement in 2020. Plans for future perlods FUTURE DEVELOPMENTS The main activities of the Trust remain unchanged and the Trustees anticipate Ihal any futuro developments would relale to those activities. FUNDS HELD AS CUSTODIAN There are no funds held as custodian.
THE KEVIN BELL REPATRIATION TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 The tTUStees who served during the year were.. Mr B Bell Mr D Ruddy Mr A O'Rourt<e Mr B Jackson Mr C Bell Mr C Bell Mr M Carr Mr J Mccaffrey Mr K Heaney Mrs E Bell Statement of trustees, responsibilities The trustees are responsible for preparing the Trustees, Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting pctICe1. The law applicable to charities in Northern Ireland requires the trustees to prepare accA)unts 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 applicabon of re$our¢es of the charity for that year. In preparing these accounts. the trustees are required to.. select suitable accounting policies and then apply them Gonsistenlly., - observe the methods and principles in the Charities SORP., - make judgements and astimates th81 are reasonable and prudent- slate whether appllcable accounllng standards have been followed, subject to any material departures disclosed and explained in the accounts., and prepare the accounts on the going concem basis unless It Is inappropriate to presume thal the charity wlll onlinue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable a¢curacy al any lime the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act (Northern Ireland) 2008, th8 Charity (Accounts and Reports} Regulations 2008 and the provisions ol the trust deed. They are also responsible for 5aleguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of infomation to auditor Each of the trustees has confimed 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 relevanl information and to establish that the auditor is aware of such information. The trustees, report wag approved by the Board of Twstees. Mr C Bell Truslee Dated.. 26 June 2025 Mr M Carr Trustee Dated.. 26 June 2025
THE KEVIN BELL REPATRIATION TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE KEVIN BELL REPATRIATION TRUST Oplnlon We have audited the group and parent charitable company financial statements of Tha Kevln Bell Répalriation Trust for the year 31 Au9usI 2024 which comprises the consolidated and charity Slalemenl of Financial Activities. the consolidated and charity Balance Sheets, the consolidated and charity cash flow statement and the notes to the accounts including a summary of significant accounting policies. The financial reporting framework that has beén applied in their preparation is applicable law and Unitéd Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in thè UK and ROI. In our opinion the group fin8ncial statements and par8nt charitable company financial statements: give a true and fair view of th8 State of the group and parent charitable company's affalrs as at year ended 31 August 2024 and of the group and parent charitable company's incoming resources and appllcatlon of resources, Including Its Incoma and expanditure, for the year then ended., have been property prepared in 8¢¢0rdance with United Kingdom Generally Accepted Accounting Practice; and have been pr8pargd Sn accordance with the requiremènts of tha CharltSes Act (Northern Ireland) 2008. Ba818 for oplnion We conducted our audll In accordance with International Standards on Audlting IUKI IISAS IUKII and applic8ble law. Our responsibilities under those stsndards are further described in the Auditor's rosponsibilit18s for the audit ol th6 financial stat6m8nts section of our report. We are independent of the charity in accordance with thè èthical requirements that affj relevant to our 8udit of the financial statements in the UK, including the FRC'S Elhlcal Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. W& believ& that the audit evidence we have obtained 55 sufficlenl and appropriate to provide a basis for our opinion. Con¢luslon8 relatlng to golng ¢oncorn In auditing the financial slatemenls, we have concluded that the Irusl88s' uso of the going concérn basis of accounting in the preparation of the financial statements is appropriate. Based on the wort we have p8rformed, we have not identified any material uncert8inties relating to events or conditions that, individually or collectively. may cast significant doubt on the charity's 8bility lo continue as a going concem for a period of at least twelve months from when the financSal slatements are aulhorlsed for issue. Our responslbililies and the re8ponslbS1ities of the trustees with respect lo going concem are described in the relev8nl Secb'ons of this report. other Informatlon The other information compris85 the information includèd in th8 annual report other than the financial statements and our audilor's report thereon. The Iruslees are responsible for the other information contained within the annual report. Our opinion on the financial statements doe5 not cover the other infofmalion and we do not express any lorm of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially mi5slated. If we identify such material inconsistencies or apparent rnaterial misstatements. w8 are required to delemine whether this gives rise to a matenal misslalemenl In the financial ststemenls themselves. If, based on the work we have performed, we conclude that ther8 is a material misslalement of Ihis other information, we are required to report that fact. We have nothlng to report In IhSs regard. Matters on whlch we are requlred to report by gxceptlon Wo have nothing to report sn resp8Ct of the following matters in relation to whlch the Charitl8s Ael (Northem Ireland) 2008 requires us to report lo you if, in our opinion.. the information given in the financial statements is inconsistent in any malerial respect with the Iruslees, report., or sufficient accounting records have not been kept.. or the financial statements are not in agreement with the accounting records,. or we have not received all the infomation and explanations we require for our audit.
THE KEVIN BELL REPATRIATION TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE KEVIN BELL REPATRIATION TRUST Responsibilities of trustees As explained more fully in the statement of trustees, responsibilities, 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 intemal control as the tnjstees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, Ihe trustees are responsible for assessing the charity's ability lo continue as a going concem. disclosing, as applicable, matters lated to going concern and using the going concem basis of accounting unless the trustees either intend to cease operations, or hav8 no r8alistic allernalive but to do so. Auditorfs responsibillties for the audit of the financlal statements We have been appointed as auditor under section 66 of the Charities Act (Northern Ireland} 2008 8nd report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error. and lo issue an audito5 report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misslalement when il exists. Misslalernents ¢8n 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 stalemenls. We design procedures in line with our responsibilities, outlined above, to delect material misstatements in respect of irregularities, including fraud. The extent lo which our procedures are ¢apabl8 of delecling irregularities, including fraud. is detailed below. We obtained an understandlng of Ihe le9al and regulatory framework applicable lo th8 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 company - Cornpanies Act 2006. Charitiès Act {Northem Ireland) 2008 and the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Iland (FRS 1021 leffeclive 1 January 2019). We developed an understanding of the key fraud risks to the entity (including triow fraud might oceurl, the controls in place lo help miligale 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 entries, walkthrough of the key Gontrols cycles in place and enquiry of management. The extent to which our procedures are capable of delecling irregularities, including fraud. is detailed below. Our procedures to respond to those risks identified included, but were not limited to.. Enquiry of management, and the entity's solicitors around actual and potential liligalion and claims. Enquiry of management to identify any instances of nonthcompliance with laws and regulations. Reviewing minutes of meetings of those charged with governance. Reviewing financial statement disclosures and lesling lo supporting documentation to assess compliance with applicable laws and regulations. Auditing the risk of management override of controls. including trrough testing joumal entries and other adjustments for appropriateness. and evaluating the business rationale of significant transactions oulside the nomial course of business. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. http'.Ilwww.frc.org.uklauditorsrespon5ibilities. This description forms part of our audilorfs report.
THE KEVIN BELL REPATRIATION TRUST INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF THE KEVIN BELL REPATRIATION TRUST This report is made solely lo the charity's Iruslees, as a body, in accordance with Section 65 of the Charities Act (Northern Ireland) 2008 and gUlationS made under section 65 of that Act. Our audit work has been undertaken so that we might stale lo the charity's Iruslees those mallers we are required to slate lo them in an aLJditors' 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 Iruslees as a body, for our audit work, for this report, or for the opinions we have formed. Teresa Campb811 (Senlor Statutory Audltorl For and on behalf of AA8 Group A¢counlanls Llmited, Statutory Auditor Chartered Accountants 1 3 Arthur Street Belfast Co. Anlrim BT14GA Northern Ireland Date.. 26 June 2025 11
THE KEVIN BELL REPATRIATION TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Notes me and ondowmonts frorn: Donations and legacies Investments Activities for Generating Funds Other Tradin Activities Commercial trading operatlons Total Income 2,818.623 71,577 2.495.417 12.052 5,618 15,953 8,607 2.906.153 2,521,694 endhure on: Raising funds 13,679 3,293 Charitablè aetiviliés 1,353.855 18,784 1,149.797 10,545 Commercial trading operations Total resources expended 1,386,318 1.163,635 Net Income for tho yearl Not Incomlng resources 1,519,835 1,358,059 Othfrr rocognl$•d galn$ and105508 Other gains or losse5 14 171,7061 35,548 Net movoment In fund8 1,448,129 1,393,607 Fund balances 811 September 2023 5,533,155 4,139.548 Fund balances at 31 Auoust 2024 6.981,284 5,533,155 The consolldaled statement of flnanclal activities includ8s all gains and losses recognised In the year. The consolidated slalemenl of flnanclal activitles includes all galns and losses recognised In the year. All Income and expenditure derive from continuing actsvities. 12-
THE KEVIN BELL REPATRIATION TRUST CONSOLIDATED BALANCE SHEET ASAT31 AUGUST 2024 2024 2023 Notes Flxed assets Tangible assets Investments 15 16 21.779 1,631,091 29,246 1,559.514 1.652.870 1,588.760 Current assets Stocks Debtors Cash at bank and in hand 17 18 15.233 418 5,332,517 5,348.168 16,110 369 3,956.435 3,972,914 Creditors: amounts falling due within one year 19 119.7541 128,5191 Net current assets 5,328,414 3,944,395 Total assets less cuent liablllties 6,981,284 5,533,155 Income Funds Unrestricted funds 21 6,981.284 5,533,155 6,981,284 5,533,155 The financial statemants were approved by the Iruste8s on 26 June 2025. Mr C Bell Truste0 Mr M Carr Trusteè
THE KEVIN BELL REPATRIATION TRUST CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Noles ncom and endow Donations and legacies Investments Adivilies for G8n8rallng Funds 2,818.623 2,495,417 71.577 12,052 5,618 Total Income 2,890,200 2,513,087 ndltur8 on: Raising funds 13,679 3,293 Charitable activities 1,353,855 1,149,797 Tolal resour¢&s oxpendod 1,367,534 1,153,090 Not Income for tho yèarl Net Incorning ro8ources 1.522,666 1,359,997 Other recognlsed galns and losses Other gains or losses 14 171,7061 35,548 Not mov•m8nt In fund8 1.450,960 1,395,545 Fund balances at 1 September 2023 5,535,480 4,139,935 Fund balancès at 31 August 2024 6,986,440 5.535,480 The statement of financlal a¢tivitl8s includes all gains and bsses recognised in the year. The slalement of linancial aclivilies includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. 14-
THE KEVIN BELL REPATRIATION TRUST CHARITY BALANCE SHEET ASAT31 AUGUST 2024 2024 2023 Notes Flxed assets Tangible assets Inv8Stm8nts 15 16 21,779 1,631,091 29,246 1,559,514 1,652.870 1,588,760 Curront a88018 Debtors Cash al bank and In hand 18 34,328 5,317,796 34,279 3,940,960 5.352,124 3,975.239 Crodltors: amounts falllng duo wlthln on• yoar 19 118.554} 128,5191 Net current assets 5.333,570 3,946,720 Total a88ets l•Js eurr•nt IlabSlltl•s 6,986,440 5,535.480 The funds of the charlty Unrestricted funds 21 6,986,440 5,535,480 6,986,440 5,535,480 The flnanclal statements wer8 approved by the trustees on 26 June 2025. Mr C Bell Tru8tO0 Mr M Carr Tru8t••
THE KEVIN BELL REPATRIATION TRUST CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Notes Cash flows from operating activltie6 Cash generated from operations 24 1,376,082 1,378,309 Investlng activltles Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Investment income received 127,7501 10,250 261 Net cash used in investlng activities (17.2391 Net cash genorated from flnancing activities Net Increasè In Cash and cash equlvalents 1,376,082 1.360,914 Cash and cash equivalenls at beginning of year 3,956,435 2,595,521 Cash and cash equlvalents at end of year 5,332,517 3,956,435 16
THE KEVIN BELL REPATRIATION TRUST CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Notes Cash flows from operatlng activities Cash generated from operations 24 1,376,836 1.378,309 Investing activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Investment ino)rne received 127,750) 10.250 261 Net cash used In Investing activities (17,239> Net cash generated from flnanclng a¢tlvlties Net increase in cash and cash equivalents 1,376,836 1.361,070 Cash and cash equivalents at beginning of year 3,940.960 2,579,890 Cash and cash equivalents at end of year 5,317,796 3,940,960 17
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Critl¢al accounting estlmates and Judgements In the application of the charity's accounting policies, the Iruslees ar8 required lo make judgemonls, estimates and assumptions about the carrying amount of assets and liabili118S thal are not readily apparent from other sources. The esllmates and associated assumpllons are based on historical exper4en¢e and other factors that are considered lo be relevant. Actual results may differ from these 8slimates. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revlslons lo accounllng estimates arg recognised in the period in which the estimate is revlsed where the revision affects only that period, or in tho period of the revision and future p8riods where the revision affects bolh current and future periods. Ac¢ounllng pollcles Charlty Informatlon The Kevin Bell Repatriation Trust meets Ihe definition of a public benefit enlily under FRS 102. 2.1 Ac¢ountlng convontion The accounts have been preparod In accordance wlth the charity's govemSng document, the Charltios Act (Northern Ireland} 2008 and "Accounting and Reporting by Chari118s'. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" las amended for accounting periods commen¢ing from 1 January 20191. The charity is a Public Benefit Enlily as defined by FRS 102. Th8 financSal slalem8nts are prepared in sterling, whlch Is the functional currency of the charity. Monetary amounts in these financial statements are rounded to thei nearest £. 2.2 Golng ¢onc•rn At the time of approving the financial slalements, the Iruslees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial slalemenls. 2.3 Group flnanclal statement8 The financial slalements consolldale the results of th8 Charity, The Kevin Bell Repatrlation Trust and its subsidlary KBRT Trading Llmlted. 2.4 Charltable funds Unrestricted funds are available for usé at the dlscretion of the trustees in furthèrance of their charitable objectives. Restricted funds are Subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are sel out in the notes lo the financial statement$. 2.5 Incomlng resources Income is recognised when the charity is legally entitled to il after any performance condib'ons have been mel, the amounts can b8 measured reliably, and il is probable that incom8 will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been T)Otified of the donation, unless performanGe oondilion$ require deferral of the amount. Income tax recoverablg in relation lo donations received under Gift Aid or deeds of covenant is reGognised at the time of the donalion. Investment income Income from investments is included, togethor with the related tax credits, in the Statement of Finan¢ial Aclivitias on an aGGruals basis.
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollcles (Continuod) 2.6 Resources expended Expenditure Is recognised once there Ss a legal or constructive obligation to make a payment lo a third party, it is probable that selllement will be required and tha amount of the obligation can be m8asured reliably. Expenditure is classified under the following activity headings". Charitable expenditure compris88 those costs incurred by the charity in the delivery of its activities and services for Its beneficiaries. 11 includes both costs that can be allocated directly to such aclivitses and those costs of an Indirect nature necessary to support them. Irrecoverable VAT is charged as 8 Cost against the a¢livily for which the expenditur8 was incurred. 2.7 Tanglblo flxed ass•ts Tanglble flxed assets are Inlllally measured at cost and subsequently measured at cost or valuation. net of depreclallon and any Impairment losses. Deprlation 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 fillings Computers Motor vehicles 25Vo Reducing Balance 33VI Straight Line 25Yo Straight Line 2.8 Flx•d a88Ot Inv08tment8 Fixed asset investments are initially measured al Iran$a¢lion price excluding transaction costs, and are subsequently measured at fair value al each reporting dale. Changes in falr value a rewgnised in n6t incomellexpenditurel for the year. Transaction costs are expensed as Incurred. 2.9 lrnpalrment of flxed absets Al each reporting end dBle, the charity reviews the carrying amounts of ils tanglble assets lo delermSne whether there 15 any indication that Ih05e assets have suffered an impairment loss. If any such indication exis15, the recoverable amount of the asso1 is estimated in order to delemiine the extent of the impairment loss (if any). 2.10 Cash and cash gqulvalents Cash and cash equivalents include cash in hand, deposits hèld at call wilh banks, other short-ierm liquid invèstments with orlginal malurilies of thrèa months or18ss, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 2.11 Flnanclal Instruments The charity has elected to apply the provlsions of Sectlon 11 'Basi¢ Flnanclal Instruments, and Section 12 'Olher Flnanclal Instruments Issues, of FRS 102 to all of Its financlal Instruments. Financi81 instruments 8re recognisad in the charity's balance sheel when the charity becomes party to the contractual provisions of the instrument, Financial assets and liabilities are offset. with the net amounts pre58nled in the financial statements, when thvr? i¥ a legally enforceabl? right lo ¥ol off the recognised amounts and there is an int¥ntlon to Settle on 8 nel basis or lo realise the asset and sellle the liability simultaneously. 19-
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies Iconllnuèd) Basic flnan¢ial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried al amortised wsl using the effective interest method unless the arrangement conslilules a financing Iransaclion. where the transaction is measured al the present value of the future receipts discounted al a mat*el rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financlal liabllitles 8asic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing Iransaclion, where the debt instrument is measured at the present value of the future payrnenls discounted at a market rale of inter8St. Financial liabilities classified as payable wiihin one year are not arnortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current li8bililies if payment is due within one year or less. If not. they are presented as non-currenl liabilities. Trade creditors are recognised initially al transaction price and subsequently measured at amortised cost using the effective interest method. Dere¢ognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 2.12 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Temiination benefits are recognised immediately as ari experise when the charity is demonstrably committed lo lern)inate the employment of an employee or lo provide temination benefits. Retirement benefits Payments to defined contribution retiremenl benefil schemes are charged 8$ an expense as they fall due. 2.13 Foreign currency Foreign currency transactions are translated into the functional currency using the spot exchange rates at the date of the transactions. At each period end foreign currency monetary items are Iranslaled using the closing rate. Non-monetary items measured al historical cost are translated using the exchange rate al the dale of the transaction and non-monelary items measured al fair value are measured using the exchange rale when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation al period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Financial Activities. Foreign exchange gains and losses that relate to borrowing and cash and cash equivalents are recognised in the Statement of Financial Activities. Income from donations and 10gael•$ Unrestrlcted Unrestricted funds funds 2024 2023 Donations and gifts 2.818,623 2,495,417 -20-
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Income from investrnentS Unrestricted Unrestrlcted funds funds 2024 2023 Interest Income on deposit accounts Interest receivable 71.577 11,791 261 71,577 12,052 Other Income Unroslrlcted Unrestrictod funds funds 2024 2023 Net gain on dispos81 of tangible fixed assets 5,618 Other tradlng actlvlt1•8 The trading subsidiary of Ihe charity KBRT trading Ltd Is incorporated in tho Unlted Kingdom Icornpany number N16402361. 2024 2023 Tumov&r 15,953 116,6401 12,1441 8,607 19,6831 18621 Cost of 5a18S Administrative expenses Net ProflVILossl 12,8311 11,9381 Share capital and res6Thes 15,1561 12,3251 The registered address of the subsidiary is 30 Ashton Heights, Newry, Co. Down, BT35 8LR 7 Raislng funds 2024 2023 746 Fundraisln and ubliGI 13,679 Fundraising expenses 2,547 tm ement 13,679 3.293 21
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Charitsble activities Unrestrlcted Unrestricted Funds Funds 2024 2023 Staff costs Depreciation and impalrment Repatriation Expenses Discretionary Contributions Travel & SLtbsistence Insurance Office Expenses Bank Charges Legal and Professional Expenses 20,717 13.489 7.467 626 1,280,689 1,068,635 2,871 2,000 16,648 44,049 3,433 1,702 11.477 7,681 3,653 3,907 1,708 1,346,955 1,143,797 Share of govemance costs (see note 81 6,900 6,000 1,353,855 1,149,797 Support costs allocated to activitles 2024 2023 Governance Costs 6,900 6,000 Analysed between: Audit fees 6,900 6,000 10 Net movement in funds 2024 2023 The net movement in funds is stated after chargingl(creditlng): Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assols Lossl(profit) on disposal of tangible fixed assets 6.900 7,467 6,000 627 15,6181 11 Trustees None of the trustees lor any porsons connected with them) received any remuneration or benefits from the charity during the year12023'. £nil}, neithor wer8 they reimbursed expenses during the year {2023.. £nill. -22-
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 12 Employees The average monthly number of employees during the year was.. 2024 Numbgr 2023 Numbor Employment costs 2024 2023 Wages and salarles Social security costs Othèr pension costs 16.116 2,798 1,803 11.590 921 978 20,717 13,489 There were no employees whose annu81 remunerallon was more than £60,000. 13 Taxatlon The charity is exempt from taxation on ils activllles becaus& all ils income Is applied for charitable purposes. 14 Other galn8 and loss•s Unr•strlct•d Unr•strl¢ted lunds funds 2024 2023 Gainslllossesl upon.. Foreign exchange 71.706 135.548) -23-
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 15 Tangible fixed assots {Group and Charlty) Flxturos and fittings Computers Motor v?hi¢199 Total Cost At 1 September 2023 8,532 715 27,750 36,997 Al 31 August 2024 8,532 715 27,750 36,997 Depreciation and impalrrnent At 1 September 2023 Depreciation charged in the year 7,358 293 393 236 7,751 7.467 6,g38 At 31 August 2024 7,651 629 6,938 15,218 Carrylng amount Ai 37 August 2024 86 20,812 21,779 At 31 August 2023 1.174 322 27.750 29,246 16 Flxed assat Investments (Group and Charlty) Group Charlty 2025 2024 2025 2024 Short Term Deposits 1.631,091 1631,091 1,559,514 1,559,514 1.631,091 1.631.091 1,559,514 1559,514 Fixed asset investments relate to monies held in short term deposit accounts. 17 Stock 2024 2023 Stock 15.233 16,110 There was no stock in the charity as at 31 August 2024. 18 Debtors Group Charity 2024 2024 2023 2023 Other debtors Prepayments and accrued income 33.914 414 33.914 365 414 365 418 369 34.328 34,279 -24-
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 19 Creditors: amounts falling due within one year Group 2024 Charity 2024 2023 2023 Other taxation and social security Other creditors AccrL¢als and deferred income 588 11,672 7,494 19,754 137 588 137 21,468 10,472 21,468 6.914 7,494 6,914 28.519 18.554 28,519 20 Retlr8rngnt bgnefit schemes 2024 2023 Deflnad ¢ontribution schemes Charge to profit or loss in respecl of defined contribution sch8mes 1,803 978 The charity operates a defined contribution pension scheme for all qualifyin9 employees. The assets of the scheme are held 5epafately from those of the charity in an independently adrninislered fund. 21 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subjeel to specific condilions by donors and grantors as lo how they may be used. These include designated funds which have been sel aside out of unrestricted funds by the Iruslees for specific purposes. At1 September 2023 Galns and losses At31 August 2024 Incoming resources Resources expended Grou General funds 5.533,155 2.906.153 1.386,318 71,706 6,981,284 At1 September 2022 Galns and losses At31 August 2023 Incomlng resources Resources expended Previous year.. Genoral funds 4,139,548 2.521,694 1,163.635 35,548 5,533,155 At1 Septsmber 2023 Galns and losses At31 August 2024 Incomlng resources Ro$our¢gs oxpondod Charl General lunds 5,535.480 2,890.200 1,367,534 71.706 6,986.440 At1 3eptember 2022 Gains and losses At31 August 2023 Incoming resources Resources expended Previous year.. General funds 4.139,935 2,513,087 1.153,090 35,548 5.535.480 -25-
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 22 Analysis of net assets between funds Group Charlty At 31 August 2024: Tangible Assets Investments Current assetsllliabilitiesl 21,779 1,631,091 5,328,414 6,981,284 21,779 1,631,091 5,333,570 6,986,440 Group Charlty At 31 August 2023: Tangible Assets Investments Current a55ets/lliabilitiesl 29,246 1,559,514 3,944,395 5,533,155 29,246 1,559,514 3,946,720 5,535,480 23 Ralatod party transactlons Trangactlon8 wlth related partles During the y8ar Ihfj charity gnl8red into the following transactions with relaled parties: The Kevin Bell Repatriation Trust entered into transactions with the related party 'KBRT Trading Ltd" At Ihe year end a balance of £33,214 was owed lo The Kevin B811 Repatriation Trust. Th6 Kevin Bell Repalrialion Trust owns and Gonlrols KBRT Trading Limited via shareholding in Trust. -26-
THE KEVIN BELL REPATRIATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 24 Cash generated from operatlons 2024 2023 Surplus for the year 1.519,835 1,358,059 Adjustments for: Investment income r8cognised in statement of financial activiti&s Foreign exchange dlfferences Gain on disposal of tangible fixed assets Depreciation and impairment of tangible fixed assets Movement in investments Movements In worklng capltal: Decreasellincreasel in stocks (Increaseyd8crease in debtor8 (Decrease) in CTeditors Cash gonoratod from operatlons 1261} 35,548 15,618} 626 19.2441 (71.706) 7,467 (71.577) 877 149) 18,765) 1,376.082 1,7B2 10 (2,7491 1,375,762 25 Analys1¥ ol changes In net funds The charity had no m8lèrfal debt during the year. 27-