Northern Ireland Charity Number: NIC100575 THE DUCALES CAPITAL CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 THE DUCALES CAPITAL CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Contents Pages Trustees and professional advisers Trustees, report Independent examiner's report to the trustees Statement of financial activities Balance sheet Movement in funds Notes to the financial statements THE DUCALES CAPITAL CHARITABLE TRUST TRUSTEES AND PROFESSIONAL ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees T J Jennings CBE J D Jennings P W Jennings Registered offlce 16 Talbot street Saint Anne's Square Belfast BT12NF Independent oxamlner Michael Flannigan FEB Chartered Accountants Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG THE DUCALES CAPITAL CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report and the unaudited financial statements of the charity for the year elided 31 March 2024. THE TRUSTEEI S The trustees who served tlie charity during the y¢ai' and up to the date these finaiicial statements wei'e appi'oved, were as follows: T J Jennings CBE J D Jenning5 P W Jenniiigs STRUCTURF, GOVERNANCE AND IIL4NAGEMENT The trust is a registered ¢liai'ity in Northern Ireland, number NIC100575, and is constituted uiider a ti'ust dced dated 25 O¢lobei- 2013. At ti'ustees, Ineetiiigs, the trust¢es agree th¢ broad strkttcby at)d ai'cas of activity foi. i'he ti'ust, iiicluding considei'atioii of grant makiiig. Tlie trustees arc also I'esponsible f()I' Ihe day to day administi'ation of gi'ant8 and other outgoings. Ncw trustees may be appoiiited by tlie existing trustees at any tim¢, but so that the total number of ti'ust¢es sliall at iio time exceed six. OBJECTIVEI S OF THE TRUST Tlic objects of the ti'usl are to contribute to th¢ advanceinent of education, the arts, culture and heritagc, and medical i'esearLh, to provide a benefit to the tsommunity And to i'elieve poverty. These objecis will be achieved by Inakiiig grants and pi'oviding sponsorship. ACTIVITIES, ACHIEvfi MEI IITS AND FINANCIAL IiEVIF.W Gi'ants Inade by the trust during tlie year arts as shown iii the 5tdlement of financial activities. The ti'ustees confinn that they have irferred to the guidance contdined in the Charity Coiiimissioners, general guidance on public ben¢fJt wheii reviewijig the I'ru5Vs objectives aiid iii planniiig fiitlire activities and tlie gi'ant making policy for the year. Th¢ balanc¢ lield as uiir¢sti'icted funds ut 3 l Mai'cli 2024 was £119,323 (2023.. £115,110). INDEPfNDENT LXAMINER Michacl Flannigan has b¢en re-appointed as independent exaininer for the ensiiing year. Signed on behalf of the tiuste 16 Talbot Sti-eet Saiiit Anne's Square Belfast BTI 2NF NNfNGS CBE Cliaii. of trustees 20 May 2024 THE DUCALES CAPITAL CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DUCALES CAPITAL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2024 I report on the ffftancial statements of the charity for the yeai. ended 31 March 2024 whicli are set out 01) pages 4 to 8. I SPLI crJvE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The ¢hai'ity'S trustees are i'esponsible for the preparation of the fiiiancial stat¢mei)ts ii) accordaiice with the Charitics Act (Noithein li'elaiid) 2022. The charity's trustees consider that an audit is i)ot required fu. this year and tl)at ali iiidependciit examinatioii is needed. It is my responsibility to.. examiiie the financial statements uiider section 65(3)(a) of the Cliai'ities Act. follow the pi-ocedures l(iid down in the general directions givem by the Charity Coinmis'sion undeT section 65(9)(b) ol the Chai'ities Act. state whether particular matteTS have coinc to my attention, BASIS OF INDEPENDLNT EXAMINER'S SI'AI'FMENT My Lxan) ination includes a I'eview ot. the accounting I'¢¢ord% kept by the chai'iiy and a coinpai'ison of the finaiicial statemeiits presented with those i'ec()rds. It also iiicludes con.%idvi'atioii of %Lny unusual iteiT]s or disclosui-es in the fiiiancial statements aiid seekiiig explanalions fi'oill you as IrLlStees coiicei-niiig any siich maltsrs, Tlie pi'ocedui'es undeitakcii do not pi'ovide dll the evidL'nce tliat would be required in ali ￿dIt, and consequently no opinioii is given as to wliether the fiiiaiicial statements preseiit a 'true and Fair, view and tlie report is limited lo those matte15 Sct out in the statemeiit bclow. INDF.P[I NDENT EXAMllYER'S STATEMFNI. lii conne¥tion with my exainiiiation, iio Inattei. has come to my attention.. ( l ) which gives me reasonable cause to believe that, in any material i'¢spect, the requirements., to keep accounting i'ecoi'd5 in accoi'dance with section 63 of thL Charities Act (Northern Ii'eland) 2022; aiid to prepare financial statPAncnts whicli accoi'd with the accounting i'cLoi'ds aiid coinply with tlie accounting Itquii'ement,% of that Act, have not been met. or (2) lo which, iii my opinion, attention should be drawn in ol'der to eiiable a propel. undei'standing of tlie financial statem¢i)ts to be reached. 11th7W- Michael Flannigan Independent Examiner FEB Chaitered Accountants Linenhall Exchange 26 Lineiihall Stregt Belfast BT2 8BG 20 May 2024 THE DUCALES CAPITAL CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes INCOMING RKSOURCES Incoming resources from generating fuiids: Interest received 4,213 4,213 2,013 2,013 TOTAL INCOMING RFSOURCES IiESOURCES EXPENDEI D Costs of generating funds: Graiils made Governanco costs TOTAL RLSOURCES Ei XPENDEI D NET INCOMtNG RESOURCES FOR TIIEI Y[1 AR 4,213 2,013 REI CONCILIATION OF FUNDS Total fiinds brought foiivai'd TOTAL FUNDS CAIiiUEI D FORWARD J15,110 113,097 119,323 115,110 Tlie stat'eineiit of financial activities includes all gains aiid10sse.8 in I'he year and tliei'efoie a statemei)t ot total i'ecognised gaiii% and losses has not becn prepared. All tlie activities of Ihe charity arc fi'oin continuing activities. The notes on pages 7 to 8 form part of these financSal statements. THE DUCALES CAPITAL CHARITABLE TRUST BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes CURRENT ASSETS Casli at banlc 119,323 115,110 NET CURREI NT ASSETS 119J23 115,110 TOTAL ASSII TS LESS CURRENT LIABILITIES 119,323 115,110 FUNDS Unrestricted income fundg TOTAL FUNDS 119J23 115,110 I15,110 119,323 These financial statements wer¢ appi'oved by the trustees and authoi-ised tor issue on 20 May 2024, and al'e signed on their belialf by.. of ti'ustees Noilhern Ireland Chai'ity Number.. NICIOO575 The notes on pagès 7 to 8 form part of thgse financial statements. THE DUCALES CAPITAL CHARITABLE TRUST MOVEMENT IN FUNDS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of movement in funds Balance l April 2023 Balance 31 March 2024 Income Expenditure Unrestricted funds 115,110 4,213 119,323 Analysls of rnovement in funds - prior year Balancc l Api'il 2022 Balanc¢ 31 March 2023 Income Expenditui'e UnrLstrict¢d funds 113,097 2,013 115,110 The notes on pages 7 to 8 fom part of these financial statements. THE DUCALES CAPITAL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF CONIPLIANCE These financial statenients have been prepared in compliancc with FRS 102, 'The Fiiiancial Reporting Standard applicable in the UK and Republic of Ii'eldlld,. ACCOUNTtNC POLICIES Basis of aeeounting The fiiiaiicial ,qtatemeiits have b¢en prepAred in accordance with 'Accouiitii)g and Reporting by Chai'ities. applicable to cliai-itics pi'epai'ing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015)- (Chariti¢s SORF (FRS 102)), and th¢ Cliarities Act 2022, The financial stateiiients are prepared in sterl ing, whicli is the fuiictional curi-eiicy oftlie ti'ust. Fund accounting Unrestricted funds - the unresti'icted funds al'e under the control of tlie ti-ustees, to be used iii the furthei'ance of the general charitable objectives of the trust. l.ncome Incoine is recognised when there is an eiititlement to the funds, any PLrformance conditioiis attached to lh¢ item of incom¢ have been met, it 15 probable that the income will be received, Lind the ainouiit cali be measui'ed i'eliubly. Rcsources expended Expenditurc is included in the financial statements on an acciijals basis and includes VA'f wl)ere applicabl¢. INCOMING RESOURCES FROM GENERATING FUNDS 2024 2023 Interest received 4,213 2,013 COSTS OF GEIYEK4TING FUNDS 2024 2023 Gi'ant5 made Governance costs THE DUCALES CAPITAL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (eontlnued) FOR THE YEAR ENDED 31 MARCH 2024 STAFF COSTS AND EMOLUMENTS No salaries or wages have been paid to emp5oyees oi. trustees during the year (2023: £nil). UNRESTRICTED INCOME FUNDS Balance at l April 2023 Incoming BAlance at r&$ources 31 M&reh 2024 General Funds 115,110 4,213 119,323 ANALYSIS OF NET ASSETS 2024 2023 Restrilled Incoine Funds Uni'estricted Income Funds 119,323 115,110 Total Funds 119,323 115,110 10.