Human Rights Trust- The Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 June 2024 2024 Unrestricted Endowment funds funds Total funds Total funds 2023 Note Income and endowments Investment income 41,659 41,65g 25.998 Total income 41,659 41,659 25,998 Expenditure Expenditure on charitable activities Total expenditure 43,004 43,004 27,774 43,004 43,004 27,774 Net expendlture and net movement In funds (1,345) (1,345) (1,776) Reconclliatlon of funds Total funds brought fomard Total funds carrled forward 368,094 201,096 569,190 567,845 570,966 366,749 201,096 569,190 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 15 to 21 forni part of these financial statements. 13
Human Rights Trust - The Company Limited by Guarantee Statement of Financial Position 30 June 2024 2024 2023 Note Fixed assets Investments 12 415,000 415,000 Current assets Debtors Investments Cash at bank and in hand 13 14 15,584 152,035 37,071 204,690 12,501 149,876 13,475 175,852 Creditors: amounts falling due within one year Net current assets 15 51,845 21,662 152,845 567,845 154,190 569,190 Total assets less current liabllities Net assets 567,845 569,190 Funds of the charity Endowment funds Unrestricted funds 201,096 366,749 201,096 368,094 Total charity funds 16 567,845 569,190 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 aulhorised for issue on 4 November 2024, and are signed on behalf of the board by: L Mallinder Trustee The notes on pages 15 to 21 form part of these financial statements. 14
Human Rights Trust - The Company Limited by Guarantee Notes to the Financial Statements Year ended 30 June 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 1st Floor, Community House Citylink Business Park, 6a Albert Street, Belfast, BT12 4HQ, Northern Ireland. Statement of cornpliance 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 1021 (Charities SORP (FRS 102)), the Charities Act (Northern Ireland) 2008 and the Companies Act 2006. The Human Rights Trust meets the definition of a public benefit entity under FRS 102. Accountlng policies Basls 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. Dlsclosur? exemptions The charity 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 continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 15
Human Rights Trust - The Company Limited by Guarantee Notes to the Financial Statements (conlinued) Year ended 30 June 2024 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 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. 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 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. 16
Human Rights Trust - The Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 June 2024 Accounting policies (conlinuedj 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, non-charitable 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. Investments Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Investment property Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting 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 the extent of £1. 17
Human Rights Trust - The Company Limited by Guarantee Notes to the Financial Statements {continuedJ Year ended 30 June 2024 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Income from investment properties Deposit Accounts 39,500 2,159 39,500 2,159 25,000 998 25,000 998 41,659 41,659 25,998 25,998 Expenditure on charitable activities by fund typo Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Grants disbursed Support costs 39,500 3,504 39,500 3,504 25,000 2,774 25,000 2,774 43,004 43,004 27,774 27,774 Analysis of 8UPPOrt costs Analysis of support costs Total 2024 Total 2023 Finance costs Governance costs 95 3,050 3,145 95 3,050 3,145 98 2,676 2,774 Analysis of grants 2024 2023 Grants to Instltutlons Grants disbursed 39,500 39,500 25,000 25,000 Total grants Auditors remuneration 2024 2023 Fees payable for the audit of the financial statements 2,750 2,676 10. Staff costs There were no employees during the year. 18
Human Rights Trust- The Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 30 June 2024 11. Trustee remuneration and expenses Trustees received no emoluments during the year. 12. Investments Investment properties Cost or valuation At 1 July 2023 and 30 June 2024 Impairment At 1 July 2023 and 30 June 2024 Carrying amount At 30 June 2024 415,000 415,000 At 30 June 2023 415,000 All investments shown above are held at valuation. Investment properties The company's investment propety is Part 2nd floor, Sturgen Building, 9-15 Queen Street, Belfast, BT16EA and was valued year ending 30 June 2014 at £415,000. The Trustees believe that this also represents the open market value of the propety as at 30 June 2021. The historic cost of the property is £934,142. 13. Debtors 2024 2023 Trade debtors 15,584 12,501 14. Investments 2024 2023 Short-term deposits 152,035 149,876 15. Creditors: amounts falling due within one year 2024 2023 Amounts owed to group undertakings Accruals and deferred income 48,855 2,gg0 19,102 2,560 51,845 21,662 19
Human Rights Trust - The Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 June 2024 16. Analysis of charitable funds Unrestricted funds At Income Expenditure 30 June 2024 4t 1 July 2023 General funds Designated Fund Capital Investment 154,190 213,904 368,094 41,659 (43,004) 152,845 213,904 366,749 41,659 (43,004) At Income Expenditure 30 June 2023 4t 1 July 2022 General funds Designated Fund - Capital Investment 155,966 213,904 369,870 25,998 (27,774) 154,190 213,904 368,094 25,998 (27,774) Endowment funds At Sncome Expenditure 30 June 2024 4t 1 July 2023 Endowment Funds 201,096 201,096 At Income Expenditure 30 June 2023 4t 1 July 2022 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. 20
Human Rights Trust - The Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 June 2024 17. Analysis of net assets between funds Unrestricted Endowment Total Funds Funds Funds 2024 Investments Current assets Creditor5 less than 1 year Net assets 201,096 204,690 {51,8451 353,941 213,904 415,000 204,690 151,845) 567,845 213,904 Unrestricted Endowment Total Funds Funds Funds 2023 Investments Current assets Creditors less than 1 year Net assets 213,904 175,852 (19,2261 370,530 201,096 415,000 175,852 119,226) 571,626 201,096 18. Taxatlon The Company is a registered charity, and as such is entitled to tax exemptions on income and profits in furtherance of the charity's primary objectives. 19. Contingencles A contingent liability exists to repay grants and Trust monies received shotjld certain conditions not be fulfilled by the charity- In the opinion of the Trustees, the terms of the Letters of Offers have been, or will be, complied with and no liability is expected. 20. Related parties The Committee on the Administration of Justice {'CAJ') are a related paty in that some of the Trustees are a150 Trustees in the Human Rights Trust ('HRf). During the year total grants of £Nil (2023.. £nil) were disbursed to CAJ. During the year HRT transferred rental income of £9,747 {2023.' £25,000) to CAJ in relation to year ending 30 June 2024. A balance of £48,855 was recognised as owed to CAJ at the year end 30 June 2024 (2022.. £16,666). 21. Ethical standards In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. 21