COMPANY REGISTRATION NUMBER: N1024513
CHARITY REGISTRATION NUMBER: 100338
Ulster New Zealand Trust
Company Limited by Guarantee
Unaudited Financial Statements
31 December 2024

Ulster New Zealand Trust
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2024
Page
Trustees, annual report (incorporating the director's report)
Independent examiner's report to the trustees
Statement of financial activities (including income and expenditure
account)
Statement of financial position
Notes to the financial statements

Ulster New Zealand Trust
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report)
Year ended 31 December 2024
The trustees, who are also the directors for the purposes of company law, present their report and Ihe unaudited
financial slatements of Ihe charity for the year ended 31 December 2024
Reference and administralive details
Registered charity name
Ulster New Zealand Trust
Charity registration number
Company registration number N1024513
Prlnclpal offlce and reglstered The Ballance House
offic•
118a Lisburn Road
Glenavy
Co. Antrirn
100338
BT29 4NY
Northern Ireland
The trustee5
Mrs MC Keenan
Mr A Eves
(Appointed 25 April 2024)
Mr RF Hall
Mrs H Baird
Mr B Bloomfield
Mr D Twigg
Mr T Hendry - Honorary
Treasurer
Mr P Hewitt - Chairperson
Mrs M Madden
Independent axamlner
John Mag88 FCA
631 Lisbum 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 guaranlee, 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.

Objectives and activities
The preservation of The Ballance House and the furtherance of public education.
The charitys 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 Ulsler men and women in the political, social and economic
development of New Zealand during this titlle.
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
ch8rity.
Achievements and perforniance
In 2024 a full programme of events, Car Boot Sale, Spring Fair, Strawberry Fayre, Autumn Fair and Christmas
event was held. These were well altended 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 D-Day Celebration event (funded by a Grant from the Lisburn and Castlereagh City Council) were also held.
Organised Group bookings continued as did Sunday afternoon and Public Holiday openings (April to September).
In Ihe 2022 and 2023 Report the Directors expressed concern about the post covid fall in the number of Sunday
8flernoon visitors that had been experienced. This concern remains, Nevertheless, the Directors are pleased to
confirm that the Trust continues to enjoy sound financial health.
Work Gontinues to develop the exhibition areas and to maintain the premises. In 2024 a number of works were
undertaken to maintain the fabric of the building and to improve the appearance of a number of areas.
The "front room" was given a fa￿lIft to "victorianise" its appearance and the wall displays in that area were
revised and improved. A new screen, for audiolvisual presentations, was installed along with new lighting. New
lights were also installed in the Cottage Room.Tea Barn and courtyard. New windows were installed along Ihe
wall adjacent to the orchard (with repairs to other windows scheduled for 2025>.
The major costs associatéd with thesé improvement works were covéred by a generous grant from Lisburn and
Castlereagh City Council.
Ulster New Zealand Trust resources were used for further redecoration and for the repair of the chimneys on the
main house.
Further financial support was received from DAERA, this to support thè purchage of essential light equipment.
The Directors are pleased to report that the Trust continues to enjoy strong financial health.
Financial review
The company had net outgoing resources of £12,491 (2023: £8,152) leaving unrestricted funds of £50,391 (2023:
£59,668) and restricted funds of £3,158 (2023.. £5,669). Where resources permit, the directors seek to carry
fotward sufficient income to meet anlicipated future expendilure.

The trustees, annual report and the strategic report were approved on 16 September 2025 and signed on behalf of
the board of trustees by:
Mr RF Hall
Trustee
Mr D Twigg
Trustee

Ulster New Zealand Trust
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Ulster New Zealand Trust
Year ended 31 December 2024
I report to the trustees on my examination of the financial statements of Ulster New Zealand Trust ('the charity.) for
the year ended 31 De￿fflber 2024.
Responsibilities and basis of r8port
As the trustees of Ihe Gompany (and also ils directors for the purposes of company lawl you are responsible for the
preparation of the financial statements in accordance with the requirernents of Charities Act (Northern Ireland) 2008
(the '2008 Act'} and the Companies Act 2006 ('the 2006 Act'l. 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 examinakn'on 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 Direclions given by the Charity Commission for Northern Ireland under section 65191{b) of the 2008 Act.
Independent examiner's Statement
I have completed my exarnination. I confirm that no matters have come lo my attention in connection with my
examination giving me cause to believe that in any malerial respect:
1. accounting records were not kept in respect of the Charity ag required by section 386 of the 2006 Act. or
2. the financial statements do not aGGord with those records; or
3. 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 8 matter considered as part of an
independent examination., or
4. 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 charilies applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in lh8 UK and Republic of Iraland (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.
John Magee FCA Independent Examiner
631 Lisburn Road Belfast BT9 7GT
16 September 2025

Ulster New Zealand Trust
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 December 2024
2024
2023
Unreslricted
funds
Reslricted
funds Total funds
Total funds
Note
Income and endowments
Donations and legacies
Investment income
31.396
954
22,537
53,933
954
33,052
814
Total income
32.350
22,537
54,887
33,866
Expenditure
Expenditure on charitable activitles
42.330
25,048
67,378
42,018
Total expendlture
42,330
25,048
67,378
42,018
Net oxpendltur• and net movement In
fund8
19,980)
{ 12,491)
(8,1521
Reconclllatlon of funds
Total funds brought forward
60,371
5,669
66,040
74,192
Total funds Garried forward
50,391
3,158
53,549
66,040
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.

Ulster New Zealand Trust
Company Limited by Guarantee
Statement of Financial Position
31 December 2024
2024
2023
Note
Fixed assets
Tangible fixed assèts
Current assets
Cash at bank and in hand
14
2,827
6,255
51,822
60,845
1,060
Creditors: amounts falling due within one year
15
1,100
Nat current assets
50,722
59,785
Total assets less current liabilities
53,549
66.040
Net assets
53,549
66,040
Funds of the charity
Restricted funds
3,158
50,391
5,669
60,371
Unrestricted funds
Total charity funds
16
53,549
66,040
For the year ending 31 December 2024 the charity was enlitled to exemption from audit under section 477 of Ihe
Companies Act 2006 relating to small companies.
Directors, responsibllitles..
The members have not required the company to obtain an audit of its financial staternents for Ihe year in question
in accordance with section 476
The directors acknowledge their responsibilities for complying with the requirements of the Act with respecl to
accountlng records and the preparatlon of financl81 statements
These financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies, regime.
These financial siatements were approved by the board of trustees and authorised for Issue on 16 September 2025
and are signed on behalf of the board by..
Mr RF Hall
Mr D Twigg
Trustee
Trustee

Ulster New Zealand Trust
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2024
1. General infomiation
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, Norlhern Ireland.
2. Statement of compliance
These financial statements have been prepared in complianTr 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 Slandard applicable in the UK and Republic of
Ireland {FRS 102) (Charities SORP {FRS 1021) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The fi'nancial staternents have been prepared on the historical cost basis, as modified by the revaluation Df certain
financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial staternents 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 k8y sources of estimation uncertainty
The preparation of the financial statements requires management to rnake 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
circumslances.
Fund accountlng
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Deslgnated funds are unrestricled funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to reslriclions on their expenditure declared by the donor or through Ihe terms of an
8ppeal, and f811 into one of two sub-classes.. rastricted income funds or endowment funds.

Incoming resources
All incoming resources are included in the statetllent 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 entilletnellt is
estsblished.
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 clessified 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 indudes the costs of all fundraising activities, events, non-charitable trading
activities, and tha sale of donated goods. expendilure on charitable activilies includes all costs in¢urred by a
charity in undertaking activities that further its charilable airns 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 resour￿. Direct costs attributable to a
single aclivity are allocated directly to that activity. Shared costs are apportioned belween Ihe activities they
contribute to on a reasonable, justifiab18 and consistent basis.
Tangible assets
Tangiblé assèts are initially rècorded at cost, and subsequently statéd at cosl less any accumulatèd 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. 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 h8s 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 lo which it offsets any previous revaluation gain, in which
case the loss is shown within other recognised s8ins and losses on the statement of financial activities.

Depreciation
DepreG1alI(￿ 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
Fixtures and fittings
Equipment
Impairment of fixed a55ets
A review for indicators of impairfflent is carried out at each reporling 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 al each reporting date. For the
purposes of impairment tesling, when it is not possible to 8Stimate the recoverable amount of an individual asset,
an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The
cash-generating unit is the smallest identifiable group of assets that includes the asset and generales 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, irrespeGtive of whether
other assets or liabilities of the charity are assigned to those units.
Flnanclal 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 inslruments are subsequently
measured at amortised cosl. Where investments in shares are publidy traded or their fair value can otherwise be
measured reliably, the invéstmènt is subsequèntly measured at fair value with changes in fair value rècognisèd 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 lerms or financed at a rate of interesl 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 rale of interest lor a similar
debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised
in Ihe statement of financial aclivities, with the exception of hedging instrumenls in a designated hedging
relationship.
Fully depreciated
25 % straight line
25 % straight line

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
instrutnenls regardless of significan￿. 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 characleristics. Any reversals of impairment are recognised immediately, to the extent
that the reversal does not resull in a Garrying 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 caase 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. Donatlons and legacles
Unreslricted
Funds
Restrlcted
Funds
Total Funds
2024
Donations
Donations
31,396
31.396
Grants
Granis receivable
22,537
22,537
31,396
22,537
53,933
Unrestricled
Funds
Restricted
Funds
Total Funds
2023
Donations
Donations
26,782
26,782
Grants
Grants receivable
6,270
6,270
26,782
6,270
33,052
6. Investment Income
Unréstrlctéd Total Funds
Funds
2024
Unrèstrlcted
Funds
Total Funds
2023
Bank interest receivable
954
954
814
814

7. Expenditure on charitable activities by fund type
Unreslricted
Funds
Restricted
Funds
Total Funds
2024
Direcl charitable activity
Supp)rt costs
36,192
6,138
20.835
4,213
57,028
10,350
42,330
25,048
67,378
Unrestricted
Funds
Restricted
Funds
Total Funds
2023
Direct charilable activity
Support costs
26,696
4,294
7,240
3,788
33,936
8.082
30,990
11,028
42,018
8. Expendlture on charltable actlvftles by actlvlty type
Actlvltles
undertaken
directly Support CDSts
Total funds
2024 Total fund 2023
Direct charitable activrty
Governance costs
57,028
1,802
8,548
58,830
8,548
35,223
6.795
57,028
10,350
67,378
42,018
9. Analysis of support costs
Analysis of
support costs
activity 1
Total 2024
Total 2023
General offlce
1,802
8.549
1,802
8,549
1,287
6.797
Govemance costs
10,351
10,351
8,084
10. Net expenditure
Nei expenditure is slated after chargingl(crediting)'.
2024
2023
Depreciation of tangible fixed assets
6,373
5,637
11. Independent examination fees
2024
2023
Fees payable to the independent examiner for..
Independent examination of the financial statements
1,276
1,160
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows..
2024
2023
Wages and salaries
12,050
11,340

The average head counl of employees during the year was 112023.. 1)- The average number of full-time equivalent
employees during the year is analysed as follows..
2024
2023
No.
No.
Nurnber of staff
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
13. Trustee remuneratlon and expenses
No Trustee. nor any persons connected with them, have received any remuneration from the Charily during the
year.
14. Tangible fixed assets
Short leasehold
property
Fixtures and
fittings
Equipment
Total
Cost
At 1 January 2024
Additions
371,470
75,857
7,828
2,945
455,155
2,945
At 31 December 2024
371,470
75,857
10,773
458,100
Depreciation
At 1 January 2024
Charge for the year
371,470
71,990
3,867
5,440
2,506
448,900
6,373
At 31 December 2024
371,470
75,857
7,946
455,273
Carrying amount
At 31 December 2024
2,827
2,827
At 31 December 2023
3,867
2,388
6.255
15. Credllors: amounts falllng due wlthln one year
2024
2023
Accruals and deferred income
1,100
1.060
16. Analysis of charitable funds
Unrestricled funds
At 1 January
2024
At31
Expenditure December 2024
Income
General funds
60,371
32,350
(42,330)
50,391
At 1 January
2023
Al 31 December
2023
Income
Expendlture
General funds
63,765
27,596
(30,990)
60,371

Restricted funds
At 1 January
2024
At31
Expenditure December 2024
Income
Restricted Fund
5,669
22,537
{25,048)
3,158
At 1 January
2023
Al 31 December
2023
Income
Expenditure
Restricted Fund
10,427
6,270
(11,0281
5,669
17. Analysis of net assets between funds
Unreslricted
Funds
Restrlcted
Funds
Total Funds
2024
Tangible fixed assets
Current assets
1,570
50,347
(1.100)
1.257
1,475
2,827
51,822
(1,100)
Creditor5 le55 than 1 year
Net assets
50,817
2,732
53,549
Unrestricted
Funds
Restricted
Funds
Total Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
2,060
59,371
(1,060)
4,195
1,474
6,255
60,845
(1,060)
Net assets
60,371
5,669
66,040