COMPANY REGISTRATION NUMBER: NI024513
CHARITY REGISTRATION NUMBER: 100338
Ulster New Zealand Trust Company Limited by Guarantee Unaudited Financial Statements 31 December 2022
AUBREY CAMPBELL & COMPANY
Chartered accountants 631 Lisburn Road Belfast BT9 7GT
Ulster New Zealand Trust
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2022
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
Ulster New Zealand Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 December 2022
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2022.
Reference and administrative details
Registered charity name Ulster New Zealand Trust Charity registration number 100338 Company registration number NI024513 Principal office and registered The Ballance House office 118a Lisburn Road Glenavy Co. Antrim BT29 4NY Northern Ireland
The trustees
Mr F McW Jelly (Resigned 1 March 2022) Mr A Eves Mr F Hall Mrs H Baird Prof. S Stockman Mr D Twigg Mr T Hendry - Honorary Treasurer Mr P Hewitt - Chairperson Mrs M Madden Independent examiner Aubrey Campbell FCA 631 Lisburn Road Belfast BT9 7GT
Structure, governance and management
The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association. The company is not for profit and limited by guarantee, the liability of the members being limited to £Nil.
The organisation is governed by its Board of Directors who are also Trustees and who meet on a regular basis.
1
Ulster New Zealand Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2022
Objectives and activities
The preservation of The Ballance House and the furtherance of public education.
The charity's objectives and activities are to advance public education by the restoration and use of the building known as Ballance House, birth place of John Ballance, political reformer and Prime Minister of New Zealand 1891-93, and to increase history of the part played by Ulster men and women in the political, social and economic development of New Zealand during this time.
The Trustees confirm that they have complied with the requirements of the Charities Act to have due regard to the public benefit guidance published by the Charity Commission for Northern Ireland.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
2022 saw a return to a full programme of events, Spring Fair, Strawberry Fayre, Autumn Fair and Christmas event. These were well attended and successful occasions - we are grateful to our Volunteers whose work ensured that this was the case. Special Events: Waitangi Day Lunch, ANZAC Day service of commemoration and a Queen's Platinum Jubilee event, during which a commemorative tree was planted in the orchard, were also held. We were delighted to receive a visit from the New Zealand Counsellor (Management)/Consul General, Jeremy Palmer and to show him the results of the work to development of the Exhibition.
Organised Group bookings also restarted and provided a steady flow of visitors. Sunday afternoon and Public Holiday openings (April to September) resumed, though the Directors remain concerned about the post covid fall in the number of Sunday afternoon visitors that has been experienced.
With much work on the House and Exhibition having been carried out during lockdown, 2022 saw further development of the Ballance Room displays and the delivery of additional agricultural machinery for the outdoor displays.
The Directors are pleased to report that the Trust continues to enjoy strong financial health.
Financial review
The company had net incoming resources of £645 (2021: £25,863) leaving unrestricted funds of £63,765 (2021: £61,465) and restricted funds of £10,427 (2021: £12,082). Where resources permit, the directors seek to carry forward sufficient income to meet anticipated future expenditure.
2
Ulster New Zealand Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2022
The trustees' annual report and the strategic report were approved on 26 September 2023 and signed on behalf of the board of trustees by:
Mr F Hall Trustee
Mr D Twigg Trustee
3
Ulster New Zealand Trust
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Ulster New Zealand Trust
Year ended 31 December 2022
I report to the trustees on my examination of the financial statements of Ulster New Zealand Trust ('the charity') for the year ended 31 December 2022.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the ‘2008 Act’) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Aubrey Campbell FCA Independent Examiner 631 Lisburn Road Belfast BT9 7GT
26 September 2023
4
Ulster New Zealand Trust
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 December 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 24,476 | 11,185 | 35,661 | 74,973 |
| Charitable activities | 6 | – | – | – | 2,653 |
| Investment income | 7 | 132 | – | 132 | 18 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total income | 24,608 | 11,185 | 35,793 | 77,644 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 8,9 | 22,308 | 12,840 | 35,148 | 51,781 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 22,308 | 12,840 | 35,148 | 51,781 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net income and net movement in | funds | 2,300 | (1,655) | 645 | 25,863 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 61,465 | 12,082 | 73,547 | 47,683 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 63,765 | 10,427 | 74,192 | 73,546 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 15 form part of these financial statements.
5
Ulster New Zealand Trust
Company Limited by Guarantee
Statement of Financial Position
31 December 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 15 | 11,189 | 15,583 |
| Current assets | |||
| Debtors | 16 | 1,800 | – |
| Cash at bank and in hand | 62,003 | 58,764 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 63,803 | 58,764 | ||
| Creditors: amounts falling due within one year | 17 | 800 | 800 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net current assets | 63,003 | 57,964 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total assets less current liabilities | 74,192 | 73,547 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net assets | 74,192 | 73,547 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Funds of the charity | |||
| Restricted funds | 10,427 | 12,082 | |
| Unrestricted funds | 63,765 | 61,465 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total charity funds | 18 | 74,192 ৶৶৶৶৶৶৶৶ |
73,547 ৶৶৶৶৶৶৶৶ |
For the year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 26 September 2023, and are signed on behalf of the board by:
Mr F Hall Trustee
Mr D Twigg Trustee
The notes on pages 7 to 15 form part of these financial statements.
6
Ulster New Zealand Trust
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2022
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in Northern Ireland. The address of the registered office is The Ballance House, 118a Lisburn Road, Glenavy, Co. Antrim, BT29 4NY, Northern Ireland.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
7
Ulster New Zealand Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2022
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
8
Ulster New Zealand Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2022
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Short leasehold property | - | Fully depreciated |
|---|---|---|
| Fixtures and fittings | - | 25% straight line |
| Equipment | - | 25% straight line |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
9
Ulster New Zealand Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2022
3. Accounting policies (continued)
Financial instruments (continued)
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
Should the company wind up, any subscribers that are present on this date, or cease to be a subscriber within one year of the wind up, they will contribute to the assets of the company by such amount as may be required for payment of debts and liabilities of the company contacted before they cease to be a member, payment of costs, charges and expenses of winding up, and adjustment of the rights of the contributors amount themselves, not exceeding the specified amount in the statement of guarantee.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 22,676 | – | 22,676 |
| Donations New Zealand High Commission | 1,800 | – | 1,800 |
10
Ulster New Zealand Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2022
5. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Grants | |||||
| Grants receivable | – | 11,185 | 11,185 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| 24,476 | 11,185 | 35,661 | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 22,910 | 3,785 | 26,695 | ||
| Donations New Zealand High Commission | – | – | – | ||
| Grants | |||||
| Grants receivable | 750 | 47,528 | 48,278 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| 23,660 | 51,313 | 74,973 | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| 6. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Other income from charitable activities | – | – | 2,653 | 2,653 | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 132 | 132 | 18 | 18 | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ |
11
Ulster New Zealand Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2022
8. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Direct charitable activity | 18,925 | 8,847 | 27,772 |
| Support costs | 3,383 | 3,993 | 7,376 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 22,308 | 12,840 | 35,148 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Direct charitable activity | 9,560 | 19,870 | 29,430 |
| Support costs | 16,113 | 6,238 | 22,351 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 25,673 | 26,108 | 51,781 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
9.
Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Total funds | Total fund | |||
| directly | Support costs | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| Direct charitable activity | 27,772 | 1,076 | 28,848 | 40,856 | |
| Governance costs | – | 6,300 | 6,300 | 10,925 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 27,772 | 7,376 | 35,148 | 51,781 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 10. | Analysis of support costs | ||||
| Analysis of | |||||
| support costs | |||||
| activity 1 | Total 2022 | Total 2021 | |||
| £ | £ | £ | |||
| Communications and IT | – | – | 10,025 | ||
| General office | 1,076 | 1,076 | 1,401 | ||
| Governance costs | 6,301 | 6,301 | 10,925 | ||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| 7,377 | 7,377 | 22,351 | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| 11. | Net income | ||||
| Net income is stated after charging/(crediting): | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 5,461 | 10,125 | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
12
Ulster New Zealand Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2022
12. Independent examination fees
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 840 ৶৶৶৶ |
800 ৶৶৶৶ |
13. Staff costs
The average head count of employees during the year was 1 (2021: 1). The average number of full-time equivalent employees during the year is analysed as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Number of staff | 1 | 1 |
| ৶৶৶৶ | ৶৶৶৶ |
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
14. Trustee remuneration and expenses
No Trustee, nor any persons connected with them, have received any remuneration from the Charity during the year.
15. Tangible fixed assets
| Short | ||||
|---|---|---|---|---|
| leasehold | Fixtures and | |||
| property | fittings | Equipment | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 January 2022 | 371,470 | 75,857 | 6,058 | 453,385 |
| Additions | – | – | 1,067 | 1,067 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| At 31 December 2022 | 371,470 | 75,857 | 7,125 | 454,452 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Depreciation | ||||
| At 1 January 2022 | 371,470 | 64,255 | 2,077 | 437,802 |
| Charge for the year | – | 3,867 | 1,594 | 5,461 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| At 31 December 2022 | 371,470 | 68,122 | 3,671 | 443,263 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Carrying amount | ||||
| At 31 December 2022 | – | 7,735 | 3,454 | 11,189 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| At 31 December 2021 | – | 11,602 | 3,981 | 15,583 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Debtors | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Other debtors | 1,800 | – | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶ |
16. Debtors
13
Ulster New Zealand Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2022
17. Creditors: amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 800 | 800 |
| ৶৶৶৶ | ৶৶৶৶ |
18. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 January 202 | 31 | December | |||
| 2 | Income | Expenditure | Transfers | 2022 | |
| £ | £ | £ | £ | £ | |
| General funds | 61,465 | 24,608 | (22,308) | – | 63,765 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| At | At | ||||
| 1 January 202 | 31 | December | |||
| 1 | Income | Expenditure | Transfers | 2021 | |
| £ | £ | £ | £ | £ | |
| General funds | 46,018 | 26,331 | (25,673) | 14,789 | 61,465 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Restricted funds | |||||
| At | At | ||||
| 1 January 202 | 31 | December | |||
| 2 | Income | Expenditure | Transfers | 2022 | |
| £ | £ | £ | £ | £ | |
| Restricted Fund | 12,082 | 11,185 | (12,840) | – | 10,427 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| At | At | ||||
| 1 January 202 | 31 | December | |||
| 1 | Income | Expenditure | Transfers | 2021 | |
| £ | £ | £ | £ | £ | |
| Restricted Fund | 1,665 ৶৶৶৶৶৶৶ |
51,313 ৶৶৶৶৶৶৶৶ |
(26,108) ৶৶৶৶৶৶৶৶ |
(14,788) ৶৶৶৶৶৶৶৶ |
12,082 ৶৶৶৶৶৶৶৶ |
14
Ulster New Zealand Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2022
19. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 3,206 | 7,983 | 11,189 |
| Current assets | 61,359 | 2,443 | 63,802 |
| Creditors less than 1 year | (800) | – | (800) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net assets | 63,765 | 10,426 | 74,191 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Tangible fixed assets | 5,440 | 10,143 | 15,583 |
| Current assets | 56,825 | 1,939 | 58,764 |
| Creditors less than 1 year | (800) | – | (800) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net assets | 61,465 | 12,082 | 73,547 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
15