Human Rights Trust Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 June 2023 2023 Unrestricted Endowment fvnds funds Total funds 2022 Total funds Note Income and endowments Investment income 25,998 25,998 25.046 Total income 25,998 25,998 25,046 Expenditure Expenditure on charitable activities Total expenditure 27.774 27,774 27,620 27.774 27,774 27,620 Net expenditure and net movement in funds (1.776) (1,776) (2.574) Reconciliation of funds Total funds brought forward Total funds carrled forward 369.870 201.096 570.966 573.540 368.094 201,096 569.190 570,966 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 page5 13 to 19 form part of these financial 5talernents. 11
Human Rights Trust Company Limited by Guarantee Statement of Financial Position 30 June 2023 2023 2022 Note Fixed assets Investrnents 11 415.000 415,000 Current assets Debtors Investments Cash at bank and in hand 12 13 12.501 149,876 13,475 14,584 148,854 3,181 166,619 175,852 Creditors: amounts falling due within one year Net current assets 14 21,662 10,653 154,190 155,966 Total assets less current liabililies 569,190 570.966 Net assets 569,190 570,966 Funds of the charity Endowment funds Unrestricted funds 201,096 368.094 201,096 369,870 Total charity funds 15 569,190 570,966 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements Vre approved by the board of trustees and authorised for issue on 23 October 2023, and are signed on behalf of the board by: L Mallinder Trustee The notes on pages 13 to 19 forni part of these financlal statements. 12
Human Rights Trust Company Limited by Guarantee Notes to the Financial Statements Year ended 30 June 2023 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Northem Ireland and a registered charity in Northern Ireland. The address of the registered office is 1st Floor. Community House Citylink Business Park. 6a Abert Street, Belfast, BT12 4HQ, Northem Ireland. Statement of compliance These financial statements have been prepared in compliance with FRS 102. 'The Financial ReFX)rting 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)), the Charities Act (Northem Ireland) 2008 and the Companies Act 2006. The Human Rights Trust meets the definition of a public benefrt enttty under FRS 102. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. as modified by the revaluation of rtain fi.nancial assets and liat)ilits"es 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 entty. Going concern There are no matetial uncertainties about the chariws ability to continue. Disclosure exemptions The Gharity has taken advantage of the exemption in SORP 2015 from the requirement to produce a cash flow statement because it is a small charity. 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 Gontinually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 13
Human Rights Trust Company Limited by Guarantee Notes to the Financial Ststernents (continuedj Year ended 30 June 2023 Accounting policies (continued) 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 eamiarked 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. The Restricted Endowment Fund has been created out of funds received for the specific purpose of ensuring that the Human Rights Trust can continue to carry its work in the years to come. 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 the is eviden of entitlement to the gift. receipt is probable and tts amount can be measured reliably. legacy income is cogniSed 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 facilltles 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 15 dassffied as unrestricted fvnds 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. 14
Human Rights Trust Company Limited by Guarantee Notes to the Financial Statements (¢onfinuedJ Year ended 30 June 2023 Accounting policies (continu8d) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure indudes 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, non charitoble trading activitics, and the salc of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefrt of its beneficiaries. including those support costs and costs relating to the govemance 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 direclly to that activity. Shared cost5 are apporttoned between the activities they contribute to on a reasonable. justifiable and consistent basis. Investments Unlisted equf(y investments are initially Corded at cost. and subsequently measured at fair value. If fair value cannot be reliably measured. assets are measured at cost less impaimient. Listed investrnents are measured at fair value with changes in fair value being recognised in income or expenditure. Investment property Investment propety is inttially recorded at cost. which indudes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each pOrting date and any changes in fair value are recognised in income or expenditure. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment propety. it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. Limited by guarantee Each of the members of the company has guaranteed to contribute to the assets of the company in the event of the same being would up to Ihe extent of £1. 15
Human Rights Trust Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 30 June 2023 Investment Income unStrICted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Income from investment properties Deposit Accounts 25,000 998 25.000 998 25,000 46 25,000 46 25.998 25.998 25,046 25,046 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestrirted Total Funds Funds 2023 Funds 2022 Grant8 disbursed Support costs 25.OlJO 2,774 25,000 2.774 25,000 2,620 25,000 2,620 27,774 27.774 27,620 27.620 Analysis of support costs Analysis of support costs Total 2023 Total 2022 Finance costs Govemance costs 98 2.676 2.774 98 2,676 151 2,469 2,774 2,620 Analysis of grants 2023 2022 Grants to institutions Grants disbursed 25,000 25,000 Total grants 25,000 25,000 Staff costs There were no employees during the year. 10. Trustee remuneration and expenses Trustees received no emoluments during the year. 16
Human Rights Trust Company Limited by Guarantee Notes to the Financial Statements (¢onlinued) Year ended 30 June 2023 11. Investments Investment properties Cost or valuation At 1 July 2022 and 30 June 2023 Impairment At 1 July 2022 and 30 June 2023 Carrying amount At 30 June 2023 415,000 415.000 At 30 June 2022 415.000 All investments shown above are held at valuation. Investment properties The company's investment property is Part 2nd floor, Sturgen Building, 9-15 Queen Street. Belfast, BT1 6EA and was valued year ending 30 June 2014 at £415,000. The Trustee5 believe that this also represents the open market value of the propety as at 30 June 2021. The historic cost of the propety Is £Y34.142. 12. Debtors 2023 2022 Trade debtors 12,501 14,584 13. Investments 2023 2022 Short-term deposits 149.876 148,854 14. Creditors: amounts falling due within ono year 2023 2022 Amounts owed to group undertakings Accruals and deferred income 19,102 2,560 8,333 2,320 21,662 10.653 17
Human Rights Trust Company Limited by Guarantee Notes to the Financial Statements (conlinued) Year ended 30 June 2023 15. Analysis of charitable funds Unrestricted funds At Income Expenditure 30 June 2023 t 1 July 2022 General funds Designated Fund - Capitsl Investrnent 155,966 213.904 25,998 (27,774) 154,190 213.904 369.870 25.998 (27.774) 368.094 At Income Expenditure 30 June 2022 4t 1 July 2021 General funds De31gnated Fund - Capital Investrnent 158.540 213,904 25.046 (27,620) 155,986 213.904 372,444 25,046 (27,620) 369,870 Endowment funds At Income Expenditure 30 June 2023 4t 1 July 2022 Endowment Funds 201.096 201,096 At Income Expenditure 30 June 2022 4t 1 July 2021 Endowment Funds 201,096 201,096 The Restricted Endowment Fund has been created out of funds received for the specific purpose of ensuring that the Human Rights Trust can continue to carry out its work in the years to come. 18
Human Rights Trust Company Limited by Guarantee Notes to the Financial Statements f¢ontinued) Year ended 30 June 2023 16. Analysis of net assets between funds Unrestricted Endowment Total Funds Funds Funds 2023 Investments Current assets Creditors less than 1 year Net assets 213,904 175.852 (19,226) 370.530 201,096 415.000 175,852 119,226) 571,626 201.og6 Unrestricted Endowment Total Funds Funds Funds 2022 Investments Current assets Creditors less than 1 year Net assets 213,904 166,619 (10,653) 369.870 201.096 415,000 166.619 (10,653) 570.966 201.096 17. Related parties The Committee on the Administration of Justice ('CAJ') are a related party in that some of the Trustees are also Trustees in the Human Rights Trust ('HRT). During the year total grants of £Nil {2022: £nil) were disbursed to CAJ. During the year HRT transferred rental income of £25.000 (2022: £25,000) to CAJ in relation to year ending 30 June 2023. A balance of £16.666 was recognised as owed to CAJ at the year end 30 June 2023 (2022: £8.333). 19