Charity registration number NIC100593 (Northern Ireland) Company registration number N1622687 THE EAKIN FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE EAKIN FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr T G Eakin Mr J D Eakin Charity number (Northern Ireland) NIC100593 Company number N1622687 Indepondent examiner Miscampbell & Co 6 Annadale Avenue Belfast BT7 3JH Bankers Danske Bank Donegall Square West Belfast BT16JS
THE EAKIN FOUNDATION CONTENTS Page Trustees report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 7-13
THE EAKIN FOUNDATION TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, Ihe Companies Act 2006 and Accounting and Reporting by Charities- 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)" {effective 1 January 2019). Objectives and activities PoliGies and objectives Eakin Foundation was incorporated on 6th February 2014. The objectives of the Eakin Foundation are:. 1) To relieve conflict related trauma, distress and social isolation by providing aid to developing countries. 2) To advance community reconciliation in Northern Ireland and abroad through the promotion of education, the advancement of local amateur sport and the delivery of support services. Main activities undertaken to further the company's purposes for the public benefit The charity has made several donations during the year. The main ones are listed below in the Review of Activities. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance Review of activities The Foundation supported various charities throughout the year, including Namwanda Zerridah and Queen's University, and more. Financial revlew It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to Continue the charity's current activities while consideration is given to ways in whi¢h additional funds may be raised. This level of reserves has been maintained throughout the year. Structures governance and management The Eakin Foundation is registered as a charitable Company limited by guarantee and was set up by a Memorandum of Association. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were- Mr T G Eakin Mr J D Eakin The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum ofAssociation. Organlsational structure and decision-making policies The charity is limited by guarantee, having no share capital. Only persons who subscribe to the objects expressed in the Memordum of Association of the company, and are appointed by the Executive ccommittee, or the company in a General Meeting, can be aadmitted as Trustees. Funds held as custodian trustee No funds are held as custodian on behalf of others.
THE EAKIN FOUNDATION TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of trustees responsibilities The trustees, who are also the directors of The Eakin Foundation for the purpose of company law, ¥e responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees report was approved by the Board of Trustees. Mr T G Eakin Trustee 29 September 2025
THE EAKIN FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE EAKIN FOUNDATION I report on the financial statements of the charity for the year ended 31 March 2025, which are sd out on pages 4 to Respective responsibilities of charity trustees and examiner As the trustees of the trust (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 the Charities Act (Northem Ireland) 2008. I port in respect of my examination of the Charity's financial statements carried out under the Charilies Act (Northern Ireland) 2008. In Carrying Out my examination I have followed all the applicable Directions given by the Charity Commission under the Charities Act {Northern Ireland) 2008. Basis of independent examiner's report I have examined your charity financial statements as required under section 65 of the Charities Act (Northem Ireland) 2008 and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65{9){b) of the Charities Act. The examination included a review of the a¢¢ounting records kept by the charity and a compar¢son of the financial statements presented with those records. It also included consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as charity trustees concerning any such matters. My fole is to state whether any material matters have come to my attention giving me cause to believe that: 1. Accounting records were not kept in accordance with section 386 of the Companies Act 2006., or 2. The financial statements do not accord with those accounting records., or 3. The financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)., or 4. There is further infomiation needed for a proper understanding of the financial statements to be reached. Independent examiner's statement I have completed my examination and I have no concerns in respe¢t ot the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Miscampbell & Co 6 Annadale Avenue Belfast BT7 3JH 29 September 2025
THE EAKIN FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrictsd funds 2025 Unrestricted funds 2024 Notes Income from: Donations and legacies Investments 109,463 5,257 411.486 Total income 114,720 411,486 Expendlture on: Charitable activities 36,915 155,962 Total expenditure 36,915 155,962 Net Income and movement in funds 77,805 255,524 Reconciliation of funds: Fund balances at 1 April 2024 327,911 72.387 Fund balances at 31 March 2025 405,716 327,911 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THE EAKIN FOUNDATION BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Current assets Debtors Cash at bank and in hand 11 180 329,306 407,786 407,786 329,486 Credltors: amounts falling due wlthln one year 12 (2,070) (1,575) Net current assets 405,716 327,911 Income funds Unrestricted funds 405,716 327,911 405,716 327,911 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.
THE EAKIN FOUNDATION BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 29 September 2025 Mr T G Eakin Trustee Company registration number N1622687
THE EAKIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity information The Eakin Foundation is a private company limited by guarantee. The company is incorporated in Northern Ireland and has Ihe company number N1622687, also a registered Charity with the Charity's Commission Nl and has the charity number NIC100593. The registered office address and principal place of business is 15 Ballystockart Road, Comber, Down, BT23 5QY. The princpal activity of the company continued to be to prevent or relieve povety, conflict related trauma, distress and or social isolation by providing aid to developing countries and to advance community reconciliation in Northern Ireland and abroad. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102)" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a statent of cash flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical Cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial ststements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific Conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performan conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expeded. If the amount is not known, the lega¢y is treated as a Contingent asset.
THE EAKIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation Can be measured reliably. Expenditure is classified by a¢tivity. The ¢osts of each activity are made up of the total of dIrt costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation Charges are allocated on the portion of the asset's use. 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.7 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the Contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, Whe the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade Creditors are obligations lo pay for goods or services that have been a¢quired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are dereGognised when the charity's contractual obligations expire or are discharged or Cancelled.
THE EAKIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.8 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Temiination benefits are recognised immediately as an expense when the charity is demonstrably Committed to terminate the employment of an employee or to provide termination benefits. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legacies Unrestricted Unrestricted funds funds 2025 2024 Donations and gifts Gift Aid 2,811 106,652 411,486 Income from investments Unr8Stricted Unrestrlcted funds funds 2025 2024 Interest receivable 5,257
THE EAKIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on Gharitable activities Unrestricted Unrestricted funds funds 2025 2024 Direct costs Share of support and governance costs (see note 6) Support Govemance 34,586 2,329 154,207 1,755 36,915 155,962 Analysis by fund Unrestricted fvnds 36,915 155,962 10-
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THE EAKIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Net movement in funds 2025 2024 The net movement in funds is stated after chargingl{crediting)'. Fees payable for the independent examination of the charity's financial statements 2,115 1,755 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Employees The average monthly number of employees during the year was: 2025 Number 2024 Number Total There were no employees whose annual remuneration was more than £60,000. 10 Taxation The charity is exempt from taxation on its activities because all its income is applied for Charitable purposes. 11 Debtors 2025 2024 Amounts falling due within one year.. Other debtors 180 12 Croditors: amounts falling due within one year 2025 2024 Accruals and deferred income 2.070 1,575 12-
THE EAKIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Unrestrictod funds The unrestricted funds ofthe charity comprise the unexpended balances of donations and grants which are not subject to spe¢ifiG conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside oul of unrestricted funds by the trustees for specific purposes. At 1 April 2024 Incoming resources Resources At 31 March expended 2025 General funds 327,911 114,720 (36,915) 405,716 Previous year: At 1 Aprll 2023 Incoming resources Resources At 31 March expended 2024 General funds 72,387 411,486 {155,962} 327,911 14 Analysis of net assets betwe8n funds Unrestricted funds 2025 At 31 March 2025: Current assetsl(liabilities) 405,716 405,716 Unrestricted funds 2024 At 31 March 2024: Current assetsl(liabilities) 327,911 327,911 15 Relat8d party transactions There were no disclosable related party transactions during the year {2024- none). 13-