Charity registration number NIC 100824 {Northem Ireland) THE MINNOWBURN TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
THE MINNOWBURN TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr B Harvey Mr5 C Harvey Mr K Forbes Mr D J Mccracken IAppoinled 14 January 2025) Charity regi$tratlon Northem Ireland NIC 100824 Princlpal address 14 Glenwell Road Newtownabbey 8T36 7RF Auditor Miscampbell & Co 6 Annadale Avenue Belfast BT7 3JH Bankèrs Danske Bank 1-2 Broadway Ballymena CoAnlrim BT43 7PE Solicitors Arthur Cox Northem Ireland Vidoria House 15-17 Gloucester stet Belfast BT14LS
THE MINNOWBURN TRUST CONTENTS Page Trustees. report Independent auditorfs report 9-11 Statement of financial activities 12 Balance sheet Slalemenl of cash flows 14 Notes lo the financial statements 15-21
THE MINNOWBURN TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Iruslees present their annual report and financial statements for the year ended 31 August 2025. The finan¢ial stalernents have been prepared in accordance nth the accounting policies set out Sn note lo the financial slalemenls and comply with the Trust's trust Deed, the Charities Act (Northem Ireland) 2008, and 'Accounting and Reporting by Charities., Statement of Recommended Pra¢lice applicable lo Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland IFRS1021 las amended for the accounting periods from 1 January 20161. ObJectNes and activities The purpose of the Trust is to distribute funds it receives lo Charitable causes that will achieve ils objectives which are.. To promote access to the Blble and Biblical leaching worldwide especially lo chIldn and young people and where such materials and methods are not readily available. To provide practical training and support for Christian workers worfdwide. especially where such support is difficult lo obtain. To facilitate the wellbeing and education of disadvantaged people and people groups worldwide from a Christian perspective, especially where such resources are not available.
THE MINNOWBURN TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 A¢hlevemtrnts and performance Significant aclivities and achievements againsl objectives Summary of Activities 202412025 The main achievements of the Trust during the year to further ils charitable purposes for the public benefit are as follows.. Scripture Union Northern Ireland ISUNII Followlng up on previou$ gifts and support Beneficiary Summary The mission of SUNI aligns Wlth the purpose of the Minnowbum Trust as it seeks to advance the Christian faith Ihln Schools by.. - Promoting the Bible as God's word and the only source of Truth and Life. Reaching pupi15 Wlth the Good News of Jesus. Supporting and encouraging Christians serving God in schools. The SUNI also organises residential camps and missions where young people engage in several a¢livicies and experiences that all centre around teaching the Chrlsllan falth. The Trust has followed up with SUNI and is satisfied that the gifts supplied in previous years have been used wisely and in keeping with the Trusts inlenlions. SUNI have provided a written report of the progress of the projects that have been supported by the trust, they have thanked the trust for their continuing interest. Child Evangelism Fg1lovhlP {Irolandl Folloviing up on previous gifts and support Beneficiary Summary Child Evangelism Fellowship is a 8ible-cenlred organisalion, whose purpose is.- To evangelise boys and girf5 with the Gospel of tho Lord Jesus Christ. To edify Idisciplel them in the Word of God. To ¢slablish them in a local church to help Tmth their various Children's programmes.
THE MINNOWBURN TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 The Chlld Evangelism Fellowship endeavours to achieve Ihls through various ministries lo children and young people, including residential and non-residential Bible clubs, and provides Subject matter Christian leaching within schools. Beneficiary Impact I benefit During the year 2024125 the Trust met with the Ireland Dlre¢tor and the Director designate. Follo¥Mng this meeting the trustees decided to support deslgnaled CEF staff in Ireland who were wilhoul sufficient support. This allowed these workers to continue in position while plans were made by CEF to make this more sustainable going forward. This will result in support being provided by this trust in future in a anned way designed to taper payments over 3- 4 years to encourage new workers to obtain support over this period. The Trust has been kept infomied as lo how the workers progressed and is satisfied that the objectives were mel and that workers in Ireland were able lo Iransilion. The trust also made a financial gift towards the Cost of European workers via their shortfall fund. The trustees met the directors for S W Europe and explored the possibility of supporting new workers. and workers who need support in a tapered fund over 34 years. This will commence next year DV_ Helping Hands Heallng Hearts- Following up on previous gifts and 8UPPOrt Helping Hands is a Christian failh-based mini5ty estsblished lo provide support to disadvantaged children in the Philippines. Vision To see children accessing their right lo Iwe, rlghl to be part of a family and right to protection from harm when that right is in jeopardy due to illness. abandonment, neglect. abuse, or poverty. We also envision a system whereby children are enabled to access appropriate health care, shelter and education tsilored to meet their specific needs. Mission A5 a Christian organisation, we offer practical. emotional. spiritual and medical assistance as well as temporary shelter and long-term residential care to children in various crisis situations. Goalslspecific Objectives.. To advo¢ale for sick children and their families. To help children get back to full health and able lo thrive. To provide temporary shelter for sick children during and following their treatment until they are well enough lo retum to their own families or can be referred lo other institutions for continuity of care. To offer a viable third option to families of children with terminal illnesses who do not want lo let their child die in hospital or al home by offering a 'Hospice Care. program. To make sure children carry on their education al whatever level they can manage throughout their illness. To provide a supportive counselling service in conjunction with the DSWD lo Clients who are victims of abuse and then later direct them to appropriate organisations that will c8ter more speeifically to their needs once their physical wounds have been mended. To help indigent patients and their families by empowering and enabling them lo nelwork and draw on resources frorn other useful, appropriate organisalions such as PCSO, DSWD, local churches and the Mayor's Office throughout theirjourney through illness and recovery. To keep families together wherever possible. Beneficiary Impa I benefit Helping Hands has developed a Child re¢overy Unil located al Baguio. The children are often referd to the Helping Hands CRU on discharge from the kn hospitals located within the city. Recenuy this mission has begun lo construct their own purpose built premises. The Trust followed up on the work of Helping Hands during the year and can report that il is satisfied that Helping Hands used any funding received for the purposes that it was intended. The trust does not envisage offering support Currently but is in regular contsd.
THE MINNOWBURN TRUST TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2025 Ministers I Pastors - Overseas based follow up on a¢hlgvem8nts. The Trust has supported several Ministers and Pastors who work mainly in Europe and Middle East regions over a period of many years and has been kept informed as to their progress. Except for the Middle Eastern pastor, the trustees have not been in contact with the other pastors who were closer lo some of the previou5 t¥Uglees. Pastoral Worker- Mlddlo East This pa51orl teacher is based in the UK and travels lo provide much needed support and teaching to other Pa$lors who are based throughout regions where the Christians are persecuted because of theiT faith. The trust has supported this worker and enabled him to support others fin8nclally and splrllually. The Trust has been kept updated on his work.. the Trust is satisfied that the support provided was used as intended. Wycliffè Bible Translators Wycliffe is a Bible-centred organisation. whose purpose Is.. To translate the Word of God into local languages Whe this has not been done before To edify (disciple) them in the Word of God. To work alongside local communities To partner with other Bible agencies The Trust supported Wycliffe projects previously and has been updated concerning the progress of these projects which is a great source of encouragement. Wycliffe provide Bible translation and training directly and in conjunction with other ministries. The Trust has kept in touch with Wycliffe through their representative and maintains an interest in their work. The Trust is satisfied that the support provided was appre¢iated and was used as intended.
THE MINNOWBURN TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 DFN Ministry to provide schools and Teachers In Indla DFN is a Bible-cenlred oryanisalion, whose pijrpose is." To reach low caste people in India where this has not been done before To live out the commission given in the Word of God through education and healthcare To work alongside local Dalil communities al their request To partner with other Bible agencies The Trust supported the construction and operation of schools for underprivileged people in India. Many of the children who passed through the schools are now qualified professionals. The mission mel ¥Mth DFN and plans lo support elements of Ihls ministry next year. Good$eed International Goodseed is a Bible-¢entred organisation. whose purpose is.. To reach people wth the Word of God taught in a chronological simple profound way To edify people in the Word of God by providing publications and tools To work alongside local communities and churche3 To partner with other Bible agen¢ies Goodseed provides Blble leaching materials through books and vldeos and has been known lo the Trustees for over 20 years. The Trust mel with Goodseed and agreed to fund a pilot animation project to be carried out by Motion Graphic5 on Goodseed's behalf. Keiron Forbes was absent from these discussions. having declared that the owner of Motion Graphics is his son in law. Motion Graphics performance and invoices are monitored and passed by Goodseed. Future Support The trust met on 25.7.25 and decided that il would like lo support the following organisations next year. CEF scheme for workers in S W Europe 1 £250k CEF IT worker in Romania 1 £25k CEF SW Europe Leaders discretion fvnd £50k Goodseed Inlemalional publishing l animation work £50k Tanzania Farm Project new School £50k Revival Movement Association £250k DFN India Projects £50k Other items will arise and will be considered case by case as the Trustees are led by the LORD. Financial review The Trust accepted donations of £Nil (2024.. £6,000) and funding of £13,430 (2024.. £6,151) was provided lincluding support costs) in the year. Going concern Going concerTr After making appropriate enquiries. the Trustees have a reasonable expectstion that the Charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason. they continue to adopt the going concem basls in preparing the financial statements. Further detalls regarding the adoption of the going concern basis can be found in the accounting pollcies.
THE MINNOWBURN TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 ReseeS policy Re5erYes Policy For the Trust lo continue its work reserves are kept at an adequate level lo cover the regular payrnenls required to keep payment5 commrtted to for the financial year. unstrICted reseNes at the balance sheet date total £3,937,754 (2024.. £3.615,374). Fair Value Reserve5 at the balance sheet ctate total £3,937.75412024. £3,615.3741. Principal funding sources Principal sourcgs of Incom• Harvey Group plc is the Trusts sole funding source. The level of donations received from this Mparny each year is dependent on the company's perfomiance. 11 has not been possible for the company to continue making donations. The Trust did not commit itself lo making funds available during the year 202412025, therefore. The Trustees have provided the necessary finance to meet the co$ls of comlance during this period. Structure. governance and management The Trust is an unincorporated charity set up by way of Trust Deed dated 2nd July 2010 to hold the as$el$ of the trust. The Iruslees who served during the yoar and up to the dale of signature of the financial stslemenls were.. Mr B Harvey Mrs C Harvey Mr G Montgomery Mr K Forbes Mr D J Mccracken (Resigned 14 January 20251 (Appointed 14 January 20251 Recwilment and appointment oftmstees Methods of appointmènt or al•ction of Trustees The requirement for Trustees and the skills required are kept under continual review. Due lo the limited aolivity of the Trust at present there isn't a requirement for any additional trustees. None of the Trustees has any beneficial interest in the charty. How declslons are madè All decisions in iespe¢l of revenue expendllure from the Trust funds are taken by the Trustees by majority vote. In the case of equality of voles, Mr B Harvey has the casting vote. The Trust actively monitors the skills and experience of the Trustees to ensure that adequate support and training is provided were ne¢es$ary. Trainlng hag been provided to the Trustees and further training will be provided as required. Dividends No preference dividends were paid, and the Trustees do not recommend payment of a final dividend. Restrlctlons on who can bongflL Beneficiary selection will follow a fomial process of due diligence and approval to pre-determined beneficiary selection criteria set in accordance with meeting the purposes of the Trust as sel out in the Trust Deed.
THE MINNOWBURN TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Relationships wlth related parties The Trust has a 670/0 shareholding in Harvey Group plc which is held for investment purposes. The Trust is dependent on the income received from Harvey Group plc to make charitable donations. Harvey Group have paid dividend in the year 2024r25 to the trust . which wll enable the Trust lo recommence distributing fijnds in the next financial year. Compliance with HMRC and Charities Commisslon The trust complies with HMRC and CCNI reguiations and guidelines. Risk l Hami Continuod Compllance wlth the rolgvant regulatory and statutory requirement5 Training is organised with a suitably qualified service provider to conduct a training l awarene5S training as required. Data Protgction I Communlcallon th bonoficiarigs In some Circumstances benefiaaries of the Trust might be working in certain regions I countries where the nature of their work might risk religious persecution. The Trust ha5 50ughl lo protect the identity of organisalions and individuals in this report. Privata Benafit The trustees have taken the necessary steps to ensure that there has been no direct Private benefit realised because of our support of our various beneficiaries. Statement of Compllance In setting our Objedive$ and planning our adivilies for the year, the Trustees have considered the Charity Commission for Northern Ireland's guidance on public benefit lo ensure that the activities have helped to achieve the charity's purposes and provide a benefit to the beneficlaries. Statement of tru$toa$' re$pon$lbllltlas The trustees are responsible for preparing the Tfu$lees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Northem Ireland requires the trustees to prepa financial statements for each financial year which give a true and fair view of the slate of affairs of the Charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial stalemenls, the trustees are required lo.. select suitable accounting policies and then apply them con$istenlly', observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent.. slate whether applicable accounting standard5 have been followed, subjed lo any material departures disdosed and explained in the financial ststemenls., and prepare the financial statements on the going concern basis unless it is inappropriate to presu that the charity will ¢ontinue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable aura at any lime the financial position of the charity and enable them to ensure that the finanryal slalements Comply with the Charities Act (Northern Ireland) 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularitlOS.
THE MINNOWBURN TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Statement of Trustees, responslbilitie$ The Trustees are responsible for preparing the Trustèes. report and the ancial staiemenis in accordance with applicable law and Unrted Kingdom AGcounting Standards (Vniied Kingdom Generally Acc8pled Accounting Practice). The law applicable to charrtie5 In Northern Ireland requires the Trustees to prepare finanu61 statements for each financial which giv8 8 true and fair view of the 5tste of aftalrs of the Charily and of its incoming resourTr5 and application of resour$, including its income and expenditure, ltr ihai period. In weparing tthse financial siaternents, the Trustees are required to.. select 5Ultable accoun*'ng policie5 and then app thern con5151ently', b5erve the methods and prinriples of the Charities SORP IFRS 1021.. TTtake judgments and accounting estimates that are Teasonable and prudent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed, Subject to any material departur88 disdosed 8nd explaned in the financial st8ternents", ppare the financial statement$ on Ihe going Canrn basis unkss it is inappropriate to presume that th¢ Charity wll continue In business. The Trustees ar8 I85ponble for k8e&¥ng adequate accounting records that are suffirient to 5hcw and explain ihe Charity's transadions and disclos? wilh reasonable accuracy at any time the finanrial position of Ihe Charrty and enable them to ensure that Ihe financial statement5 compty with the Chartties Act (Northern Ireland) 2008, the Charits"es (Accounts and Reports) Regulation8 (Northem Ireland) 2015 and the provisions of the Trusl d8ed. They are also responsible for safeguarding the assets of the Chafity and hence for taking reasonable sleps for Ihe pVentiOn and detection of fraud and other irregulariii8s. The hwstees, report was approved by th8 Board ofTrustees. Mr 8 Harvey Trustee 24 Juty 2026
THE MINNOWBURN TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MINNOWBURN TRUST Oplnlon We have audited Ihe financial statements of The Minnowbum Trust Ilhe 'charity'l for the year ended 31 August 2025 which Comprise the slalemenl of financial aclivilies, the balance sheet, the statement of cash flows and notes lo the financial slalemenls, including significant accounting policies. The financial reporting framework that has been applied in their pparatIOn is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Slandarrl applicable in the UK and Republic of Ireland {Uniled Kingdom Generally ACpIed A¢¢ounling Practice). In our opinion, the financial slalemenls-. give a true and fair view of the stale of the charty's affairs as at 31 August 2025 and of ils incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi,. and have been prepared in accordance with the Charities Act (Northem Irelandl 2008. Bas1$ for oplnSon We conducted our audit in accordance with International Stsndards on Auditing {UKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit ol the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is suffiaenl and appropriate lo provide a basis for our opinion. Conclusions relatlng to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concem ba$1$ of accounting in the preparation of the financial slalements is appropriate. Based on the work we have perforrned, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the charity's ability lo continue as a going Cencem foT a period of at least twelve months from when the finan¢ial statements are aulhorised for issue. Our responsibilities and the sponsIbl{1ties of the trustees wlh respect to going concem are described in the relevant sections of this report. Other infomiation The other information comprises the infomiation included in the annual report other than the financial stslements and our auditor's report thereon. The trustees are responsible for the other inforJnalion contained thIn the annual report. Our opinion on the financial statements does not cover the other infom)alion and we do not express any fomi of assurance conclusion Ihereon. Our responsibility is lo read the other informatlon and, in doing so. cgnsider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we Identify such rnaterial inconsistencies or appanI material misstatements, we are required to delermbne whether this gives rise lo a material misstatement in the financial statements themselves. If. based on the work we have performed, we condude that there is material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on vthich we are required to report by exception We have nothing lo report in respect of the followng matters in relation to which the Charities knounls and Reports Regulations (Northern Ireland) 2015 requires us to report to you rf, in our opinion.. the information given in the financial statements is inconsislenl in any material re3pecl wth the trustees, report.. or sufficient accounting records have not been kept., or the financlal statements are not in agreement with the accounting records,. or we have not received all the information and explanations we require for our audit.
THE MINNOWBURN TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE MINNOWBURN TRUST Responsibilities of trustees As explained more fully in the statement of trustees, responsibilities, the Iwstees are responsible for the preparation of the financial slalements and for belng satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of financial statements that are free from material misslalemenl, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability lo Continue as a going con¢em, disclosing, as applicable, matters related to going concem and using the going ¢on¢ern basis of a¢counting unless the trustees either intend lo cease operations. or havo no realisllc alternative bul to do so. Auditor'5 responsibilities for the audit of thtr finan¢ial statsm•nts We have been appointed as auditor under section 6512) of the Charities Acl (Northern Ireland) 2008 and report in accordance wth the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the finanaal ststements as a whole are free from materfal misststemenl, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISA5 IUKI will always delecl a material misslalement when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of u$ers tsken on the basis of these financial statements. The extent lo which our procedures aTe capable of delecling Irregularities, including fraud. is detailed below. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilitie5, outlined above, to detect material misstatements in respect of irregularities. including fraud. However, the primary responslbility for the prevention and detection of fraud rests with both those charged vwilh governance of the Company and management. The extent lo which our procedures are capable of delecling irregularrties, including fraud is detailed below. obtained an understanding of the legal and regulatory frameworks that are applicable lo the Company and determined that the most significant are those that relate to the reporting framework IFRS 102 and the Companies Act 20061 and the relevant lax cornpliance regulation in the United Kingdom., understood how the Company is complying with those framewtsrks by making enquiries of management to understsnd how the Company maintains and communicates its policies and procedures in these areas,. assessed the vulnerability of the Company's financial stslemenls to material misstatement. including how fraud might occur by considering the risk of management override and by assuming revenue recognition lo be a fraud risk," and based on this understsndin9 our audit procedures were designed to identify noTrcompliance wlh such laws and regulations. We assessed the susceptSbllity of the company's financial ststemenls to material misslalemenl, includin9 obtaining an understanding of how fraud might occur, by., Identification of related parties., Making enquiries of management regarding where they considered there was Susceptibility to fraud, their knowledge of actual, suspeded and alleged fraud.. Considering the intemal controls in place within the company to mitigate the risk of fraud and non- compliance with laws and regulations.. To address the risk of fraud, override of controls and non•compliance with laws and regulations, we performed analytical procedures to idenb'fy any unusual or unexpected related party relationships, tested joumal entries lo identity unusual transactions. investigated any significant or unusual transactions and assessed whether judgemonls and assumption$ made in determining the accounting estimates were suggestive of potential bias. A further description of our responsibilities is available on the Financial Reporting Council's website al.- https-.11 www.frc.org.uklauditorsresponsibililies. This description forms part of our auditor's report. Other matters 10-
THE MINNOWBURN TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE MINNOWBURN TRUST Your attenllon is drawn to the fact that the charity has prepared financial statements in a¢¢ordan¢e th "Accounling and Reporting by Charities.. Statement of Re¢ommended Practice applicable to charities preparing their accounts in accordance with the Financial Repon9 Standard applicable in the UK and Republic of Ireland IFRS 1021. las amended) in preference to the Accounting and Reporting by Charities.. Statement of Recornmended Practice issued on 1 April 2005 which is referred lo in the extant regulations but has now been withdrawn. This has been done in order for the finanaal statements to provide a true and fair view in accordancg with current Generally Accepted Accounting Practice. Use of our report This report is made solely to the charity's trustees. as a body, in accordance with Part 4 of the Charities Accounts and Reports Regulations (Northern Ireland) 2015. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required lo stste to them in an auditor's report and for no Dlher purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charity and the charity's trustee5 as a body, for our audit work, for this report, or for the opinions we have formed. Patrick M. campbell IS&nlor Statutory Auditor) For and on behalf of Miscampbell & Co, Slatulory Auditor Chartered Accountants 6 Annadale Avenue Belfast BT7 3JH 24 July 2026 Miscampbell & Co is eligible to a¢1 as an auditor in terms of section 65 of the Charities Act INII 2008. 11
THE MINNOWBURN TRUST STATEMENT OF FINANCIALACTIVITIES (INCLUDING INCOMEAND EXPENDITUREACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted funds 2025 Unrestrictsd funds 2024 Nots$ Incomè and endowments from: Donations and legacies Investments Other income 6,000 536.000 536,000 12,064 Total incomo 548,064 542,000 Expendlture on: Charitable activities 423,323 6.151 Total expendlture 423.323 6,151 Nel gains on investments 11 195,651 265.190 Ngt incom• and movement in funds 320,392 801.039 Ro¢on¢lllatSon of funds: Fund balances at 1 September 2024 3,615,374 2,814,335 Fund balance$ at 31 August 202S 3,935,766 3,615,374 The statement of financial activities includes all gains and losses recognised in tho year. All income and expenditure derive from continuing activities. 12.
THE MINNOWBURN TRUST BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Note Fixed ass•ts Investments 12 3,276,158 3,080.507 Current assets Cash at bank and In hand 665.368 537.507 Credltors: arnounts falling due Ythin one yèar 13 15.760) 12.6401 Net Gurrent a#$*ts 659,608 534.867 Total a58ets le6$ current Ilabllltl 3,935,786 3,615.374 The fundg of the ¢harfty Unrestricted fvnd5 14 3.935,768 3,615,374 3.935,76fj 3,81S,374 The finanual statements We approved by the trustees on 24 July 226 MrB H ey 13-
THE MINNOWBURN TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Notes Cash flows from operatlng activities Cash labsorbed byllgeneraled from operations 17 1408,1391 929 Investing activitles Investment income received 536.000 536.000 Net cash generatèd from investing activities 536.000 536,000 Ngt cash gonarated from financlng actlvities Net Increase In cash and cash equlvalents 127,861 536,929 Cash and cash equivalents at beginning of year 537,507 578 Cash and cash equivalents at end of year 665.368 537,507 14-
THE MINNOWBURN TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng policies Charity infomiatlon The Minnowbum Trust is an unincorporated charity registered with the Charities Commission Northem Ireland. The charity's principal office is 14 Glenwell Road Ne0nabbey. BT36 7RF. 1.1 Basis of preparation The financial statements have been prepad in accordance with the Charities SQRP IFRS 102}- Accounting and Reporting by Charities= Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance wf(h the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} and the Charities Act INorthem Ireland) 2008. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financtal Statements are roLtnded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal a¢untIng poli¢ie8 adopted are sel out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charty has adequate resources lo ¢ontinue in operational existence for the foreseeable future. Thus the trustees Continue to adopt the going concern basis of accountir*9 in preparing the financial statements. 1.3 Charitable funds Unreslricled funds are available for use at the di$¢retion of the trustees in furtherance of their charitable objectives. Reslri¢led funds are subject to specAfic conditions by donors or grantors as to how they may be used. The purposes and uses of the restrided funds are sel out in the notes to the financAal slalemenl5. Endowment fund5 are subject lo specific conditions by donors that the capital musl be maintsined by the charity. 1.4 Income Income is recognised when the charty is legally enb'lled lo it after any performance conditions have been met, the amounts can be measured reliably. and il is probable that income will be received. Cash donations are recognised on receipt. Other donallons are recognised once the charty has been notified ol the donation, unless performance conditions require deferral of the amount. In¢ome lax recoverable in relation lo donations received under GiftAid or deeds of covenant is recognised al the trme of the donation. Legacies are recognised on receipt or otherwise the Charity has been notified of an impending distribution, the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 15-
THE MINNOWBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accounting pollcles (Continued) 1.5 Expenditure Expendrf(ure is recognised On there is a legal or conslruclive obligation lo 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 reliabty. Expenditure is classified by activity. The costs of each activity are made up of the lolal of dIrt costs and shared costs, including support costs involved in undertaking each aclivily. Direct cost5 attributable lo a single activity are allocated dlreclly lo that aclivily. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent. and depreciation charges are allocated on the portion of the asset's use. 1.6 Fixed asset investments Fixed asset investments are initially measured al transaction price excluding transaction costs. and are subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in net incomellexpendilure} for the year. Transaction costs are expensed as incued. A subsidiary is an entity conlTolled by the charity. Control is the power lo govem the financlal and operating policies of the entity so as to obtain benefits from its aclivilies. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call with banks. other short-term liquid investments with original rnalurilies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitie5. Basic financial assets Basic financial assets, which include debtors and cash and bank balances. are lnilla1 measud at transaction price including Iransa¢tion costs and are subsequently Carried at amortised ¢osl using the effective interest method unless the arrangement constitutes a finanang 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. Baslc flnancial IITabilitie$ Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measurèd at the present value of the future payments discounted al a market rale of interest. Financial liabilities classified a5 payablè within one year are not amortised. Debt instruments are subsequently carrled at amortlsed cost, using the effectlve interest rate method. Trade eredrtors are obligations lo pay for goods or seryices that have been acquired in the ordinary course ol operations from suppliers. Amounts payable are classified as Current liabilities rf payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors a recognised initially at transactSon price and subsequently measured al amortise(I cost using the effective interest method. Derecognillon of flnanciallièbilities Financial liabilities are derecognlsed when the charfty's contractual obl1gaOn$ explre or are discharged or cancelled. 16-
THE MINNOWBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcles {Continued) 1.8 Employee beneflts The cost of any unused holiday entitlemenl is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expgnsg when the charity is demonstrab committed to terminate the employment of an employee or lo provide temiination benefits. Critical accounting estimates and judgements In the application of the charily's accounts'ng policies, the trustees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical exp¢rien¢e and other factors that are considered lo be relevant. Actual results may differ from these eslirnales. The estimates and underfying assumptions a reviewed on an ongoin9 basis. Revisions lo accounting estimate5 are recognised in the period in which the estimate is revised where the revision affect5 cnly that period. or in the period of the rewsion and future periods where the revision affects both current and future periods. Income from donations and lèga¢i•$ Unrostricted funds 2025 Unrestricted funds 2024 Donations an(J gifts 6,000 Income from Investments Unrestricted Unrestricted fund5 funds 2025 2024 Income from unlisted investments 536,000 536,000 Other Income Unrostrictsd Unrestricted funds funds 202S 2024 Interest income 12,064 17-
THE MINNOWBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Expendlture on charltable activities Unrostrictod Unrestricted 2025 2024 Donalon8 417.155 Share of support and governanca costs {seo note 71 Support Governance 53 6,115 31 6,120 423,323 6,151 Analysis by fund Unreslricled funds 423.323 6,151 Support costs allocatsd to actlvltles 2025 2024 Bank fees Sundry expense Govemance costs 43 10 6,115 31 6,120 6,168 8,151 Analysed between: Charitable activities 8,188 6,151 Auditor's remunarntion Fees payable lo the charity's auditor and associates.. 2025 2024 For audit services Audit of the financial ststemenls of the charty 2.892 2,640 Trustse8 None of the trustees lor any persons connected with them} received any remuneration or benefits from the charity during the year. 18.
THE MINNOWBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 10 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Numb•r Trustees There were no employees whose annual remuneration was more than £60,000. 11 Gains and losses on inve5tsnents Unro$tri¢ted Unr•$trict•d funds funds 2025 2024 Gainslllossesl arising on.. Revaluation tsf investments 195,651 265,190 12 Flx&d asset investments other investments Cost or valuation Al 1 September 2024 Valuation changes 3,080,507 195,651 At 31 August 2025 3.276,158 Carrying amount At 31 August 2025 3.276,158 At 31 August 2024 3.080.507 202S 2024 Other investments comprise". Notss Investments in subsidiarfes 16 3.276.158 3.080.507 Fixed asset Investments revalued The Trustees do not consider the consolidaton of the results of the Harvey Group to be appropriate 95 the shares are held for investment purposes and not direcuy for the fvrtherance of the activities of the charity. The Trustees have calculated the Fair Value of the investment al 31 August 2025 to be £3,276.158 based on 8 Professional valuation by the Beltrae Partners Limited on the audited financial slalemenls prepared by Harvey Group PIC. The fair values have been delemiined in accordance with generally accepted pricing models. 19-
THE MINNOWBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 13 Creditors: arnounts falling dué within onè yaar 2025 2024 Accruals and deferred income 5,760 2.640 14 Unrestrictgd fund5 The unrestricted funds of the charrty comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At1 September 2024 Incoming resour¢e$ R¢sour¢&$ expgndad Galns and At31 August losso$ 2025 General funds 3.615.374 548.064 {423,3231 195.651 3,935,766 Prèvious yeaT: At1 September 2023 Incomlng resources Resources expended Gains and At 31 August losses 2024 General funds 2,814.335 542,000 16.1511 265,190 3.615,374 15 Related party tran$a¢tion$ Transactions with related partlos During the year the eharily entered into the following transactions with lated partles." The trust received a donation of £Nil12024'. £6,000) from the Harvey Family, during the year. -20-
THE MINNOWBURN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 16 Subsidiari88 These financial statements are separate charity financial statements for The Minnowburn Tnjsl. Separate company financial statements are required lo be prepared by law. The Trustee5 do not consider the consolidation of the results of the Trust's subsidiary, Harvey Group Plc, lo be appropriate as the shares are held for investment purposes and not directly for the furtherance of the aetivities of the charlty. Detsils of the charity's subsidiaries at 31 August 2025 ars as follows.. Name of undertaking Registered office Nature of business Clas$ of sharos held °h Héld Direct Indirect HaTvey Group PIC UK Mechanical and electrical engineering, design. instsllalion and maintenan¢e and the design and inslallalion of renewable energy systems. Ordinary 67.00 The aggregate Capital and resetves and the result for the year of subsidiaries excluded from consoldation was as follows: Name ofundèrtaking ProfiUILos$l Capitsl and R•servo$ HaNey Group PIC 759,499 5.387.816 17 Cash (absorbed byllgoneratsd from 0ratIOnS 2025 2024 Surplus for the yeai 320,392 801.039 AdItrnents for". Investment income recognised in statement of financial activities Fair value gains and losses on investments (538,0001 1195,6511 1536,0001 1265,1901 Movaments in working capital: Increase in creditors 3.120 1,080 Cash (absorbed byllgoneratgd from operations 1408.139) 929 21