THE SIR GEORGE A CLARK BARONET
MEMORIAL BURSARY FUND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST AUGUST 2022
Charity Number NIC101106

THE SIR GEORGE A CLARK BARONET IIqEMORIAL BURSARY FUND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2022
CONTENTS
Page
Charity reference and administrative details
Report of the Board of Trustees
Independent auditor's report to the Trustees
8-13
Statement of financial activities
14
Balance sheet
15
Statement of Cash flows
16
Notes on the financial statements
17-24

Page I
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
CHARITY REFERENCE NUMBER AND ADMINISTRATIVE DEI TAILS
Charity name
The Sir George A Clark Baronet Meinorial Bursary Flind
Cliarity number
101106
Registered Office
Schomberg House
368 Cregagh Road
Belfast
BT6 9EY
Trustees
Rev Dr W Martin Sinyth (Chairman)
Mr R Abernethy
Mr W J B Fitzsimons
Mr S W Lindsay
Mr W McKeown
Mr J W G Patton
Secretary
Mr D Scott (dele.
(Fated day to day Inanageinent)
Treasurer
Mr W McKeowii
Auditors
Jackson Andrews
Chartei-ed Accountants & Registered Aiiditor
Andras House
60 Great Victoria Street
Belfast
BT2 7ET
Bankers
Danske Bank
POBOX 183
Donegall Square West
Belfast
BTI 6JS
Investment Managers
Evelyn Partners
Tlie Liiienhall
32-3 8 Lineiihall Street
Belfast
BT2 8BG
Solicitors
Fisher & Fisher
165 Sandy Row
Belfast
BT12 2ET

THE SIR GEORGE A CLARK BARONEIT MIMORIAL BURSARY FUND
REPORT OF THE BOARD OF TRUSTEI ES
FOR THE YEAR EIYDED 31ST AUGUST 2022
The Board of Trustees present their report aiid fiiiancial stateinents of the Fund foi- the year ended
31" ALigust 2022. The triistees have adopted the provisions of the Stateiiient of Recoinineiided
Practice (SORP) Accoiinting and Reporting by Charities" (FRS 102) in prepariiig the annLial report
and fiiiancial statenients of the Fund.
The financial stateinents have been prepared in accordance with the accounting policies set out in
notes to the accounts and coinply with the charity s governing docLiment, the Charities Act
(Northern Ireland) 2008, the Charities (Accounts aiid Reports) Regiilatioiis (Northern li'eland) 2015,
Accoiinting aiid Repoiting by Charities: Stateinent of Recoinmended Practice applicable to charities
preparing their accounts in accordance with the finaiicial Reporting Standard applicable iii the UK
and Republic of Ireland issiied in Octobei. 2019, the Financial Reporting Standard applicable in the
UK and Repiiblic of Ireland (FRS 102) and UK Generally Accepted Accounting Practice.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name
Charity registration number
Registered office
Secretary
Treasurer
The Sir George A Clark Baronet Memorial Bursary Fiiiid
NIC IOIE06
Schombei'g Hoiise, )68 Cregagli Road, Belfast, B T6 9EY
Mi. D Scott (delegated day to day Inanageinent)
Mr W McKeown
Auditor
Jackson Andrews, Chartered Accountants
& Registered Aiiditor, Aiidras 14ouse:
60 Great Victoria Street, Belfast, BT2 7ET
Danske Bank, PO Box 183, Donegall Square West, Belfast
BTI 6JS
Bankers
Investment managers
Evelyn Partners, The Liiienhall, 32-38 Linenhall Street.
Belfast, BT2 8BG
Fisher & Fisher, 165 Sandy Row, Belfast, BT12 2ET
Solicitors
TRUSTEES OF THE FUND
The triistees who served during the year were as follows:
Rev Dr W Martin Sinyth (Chairinan)
Mr R Abernethy
Mr W J B Fitzsimons
Mr S W Liiidsay
Mi" W McKeown
MrJWGPatton

THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEI AR ENDED 3 1ST AUGUST 2022 (Loiiliiiiiecl)
PUBLIC BENEI FIT STATEMENT
The Board of Trustees of The Sir George A. Clark Bai'onet Memorial Biirsary Fiind confirm that
they had due regard for the guidance produced on PLiblic benefit by the Cliarity Coininissioii for
Northern Ireland and are pleased to report that during the year the Fund has coiitinued to provide
public benefits through the finaiicial assistance we provide for the prevention of fiiiancial hardship
and poverty to our beneficiaries and we refer to the guidance when reviewing our aiiT]s and
objectives and in planning our ftiture activities.
OBJECTIVES AND ACTIVITIES
The objective aiid principal charitable activity of the Fiind is the relief of hardsliip and distress by
helping and assisting tlie financial needs and affording support by awarding bursaries aiid finaiicial
assistance to:
(i) Meinbers of the Loyal Orange Institution of Ireland or the Association of Loyal
Orangewomen iii Ireland;
(li) Children of Inembers of the Loyal Orange Institution of Irelaiid or the Associalion of Loyal
Orangewomen in Ireland.
(iii) Grandchildren of members of the Loyal Orange Institution of Ireland or the Association of
Loyal Orangewoinen in Ireland: who are:
(a) Attending or seeking to atteiid a third level ediicational establishment.
(b) Leaving school, university or other educational establishment;
(c) Continuing academic research or stLidies or.
(d) Disabled (whether physically or with a learning disability).
No pi'ivate benefit arises froin the operation of the charity.
STRUCTURE, GOVERNANCE AIYD MANAGElWtENT
CONSTITUTION
The Fund was founded in 1993, its PLirpose being the relief of hardship and distress by helping aiid
assisting the financial needs and affordiiig siipport by awarding biirsaries and financial assistance to
Ineinbers of the Oraiige Association in Ireland and their children aiid grandchildren in tertiary
ediication as set out linder the terms and riiles of the triist deed for the Fund. Tlie FLind was
registered with The Charity Coiiiinission for Northerii Irelaiid on 28 ' Api-il 2016, under i'efei'ence
NICIOIIO6.

Page 4
THE SIR GEORGE A CLARK BARONE4 T MEMORIAL BURSARY FUND
REI PORT OF THE BOARD OF TRUSTEE4 S
FOR THE YEAR ENDED 31ST AUGUST 2022 (coiiliiiiied)
STRUCTURE, GOVERNANCE AIYD MANAGEMENT (coiiliiiuLd)
Further information on the Fund and the members of the Board of Trustees can be obtaiiied froin:
Mr D Scott
Secretary
Schomberg House
368 Cregagh Road
Belfast
BT6 9EY
Telephone 028 9070 1122
Organisational structure and related parties
Responsibilities for tlie activities of the Flind is vested in and carried out by a Board of Trustees
which Ineets at intervals throu(rhout the year. TrLlStees inay be appointed by resolulion of a meeting
of the Board of TrLlStees and the niiiiiber of trustees shall not exceed 7 aiid shall not be less than 3.
Triistees may remain a TrLlStee until 75 years, however thereafter must re-affirin on annual basis.
Recruitment, appolntment, induction and training
The Board of Trustees have been involved iii the Fund for a niiinber of years and so are fainiliar
with its work. The trustees i'egularly review the requirements of the Flind and the possibility of a
need for additional trustees. Any new trustees would be elected by the Board of Trustees.
Appropriate training and indiiction is available to all trustees.
Financial risk Knanagement objectives and policies
The trustees have overall responsibility for ensiiring that the Fund has in place an appropriate
system of controls, financial and otherwise, to provide assistance that.
The Fund is operatiiig effectively.
Its assets are safegiiarded against unauthorised use or disposition;
Proper records are maintained and finaiicial information used within the Fund or for
publication is reliable.
The Fund complies with relevant laws and regiilations. and
The Fiind's systeins of financial control are designed to provide reasonable, but not absolute
assurance against material inisstatement or loss.
The triistees have assessed the majoi. risks to which the Fund is exposed, in particiilar tliose related
to the opei-ations and fiiiances of the Fuiid: and are satisfied that systetns are in place to Initigate any
exposure to Inajor risks. Wliei'e appropriate, systems or procediires have been establislied to
iiiitigate the risks faced by the Fuiid. Internal conti'ol I'isks are miniinised by the impleinentation of
procediires for aiithoi-isation of all transactions and projects. Procediires are in place to eiisiire
coinpliance witli health and safety of officers: volLinteers and applicants. These procediires are
periodically reviewed at least aniiually to eiisLlI'e that tliey continLie to Ineet the iieeds of the Fiiiid.

Page i
THE SIR GEORGE A CLARK BARONET MEI MOIIIAL BURSARY FUND
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEI AR ENDED 31 ST AUGUST 2022 (coiiliiiiied)
ACHIEVEMENTS AND PERFORMANCE
Diiring the year, the Flind approved 49 (2021 61) grant applications to individuals who qualified
under the terins of the TrLlSt Deed.
Total income for the year amounted to £25,271 (2021 £24,568) and total expenditLire for the year
aiT]ounted to £17,375 (2021 £24,379). Investinents are Inanaged aiid held by Evelyn Partiiers as
disci-etionary investinent Inanager and this year there were losses on investinents of £37,824 (2021
£82,893 gain).
FINANCIAL REVIEW
Details of incoine and expeiiditiire for the year and of the year eiid financial position are giveii on
pages 14 aiid 15 of the accouiits attached to this report. There was an increase in the inarket value of
the Fund:s investinent portfolio during tlie year and overall reserves decreased in 2022 by £29:928
froin £489:114 to £459,186. The trustees consider the finaiicial position of the FLind as satisfactory
in order to carry on its charitable activities.
Reserves policy
Unrestricted funds inci-eased in tlie year linder review by £6,181, froin (£3,952) to £2,229. The
restricted endowinent funds decreased in the year under review by £36,109 from £493.066 to
£456,957.
The policy of the Fund is to inaintain reserves at such a level as to limit risL froin future downturn
in Fund income or froin increased expenditure in the longer term, including expenditlire on
investments. This should provide sufficient funds to cover expenditure on charitable activities and
other costs. Free reserves are those iinrestricted reserves not designated nor invested in investineiits
which are available for general iise. The Board of Trustees is paiticiilarly COllSCiOLlS that volLintary
donations cannot be relied on as a continuing and certain soui'ce of incoiiiiiig resources foi. the
future and is also aware of the Iieed to guard against the vagaries of stock inarket pei-formaiice
Funding
The principal fiinding is froin donations and investinents.

THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEI AR ENDED 31ST AUGUST 2022 (contiiiuecl)
PLANS FOR FUTURE PERIODS
There have been no Inajor changes in the year, nor are any envisaged in the foreseeable future.
STATEI MEI NT OF THE RESPONSIBILITIES OF THE BOARD OF TRUSTEES
The Board of Trustees are i'esponsible for preparing the Trustees Annual Report and the financial
stateineiits in accoi'dance with applicable law and United Kingdom Accounting Standards (United
Kingdoin Generally Accepted Accoiinting Practice).
The law applicable to charities in Northern Ireland requires the trLlStees to prepare financial
statements for each financial year which give a trLie and fair view of the state of affairs of the
charity and of the incoining resources and application of resources of.the charity for that period.
In preparing these financial statements, the trLlStees are required to:
select siiitable accounting policies and then apply them consistently.
observe the Inetliods and principles in the Charities SORP 2019 (FRS 102);
make judgenients and estimates that are reasonable and prudent:
state whethei. applicable accoiintiiig standai'ds have been followed, subject to any material
departures disclosed and explaiiied iii the financial statements;
prepare the financial stateinents 011 tlie going concem basis uiiless it is inappropriate to
presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records tliat disclose with reasonable
accuracy at any tiine the financial position of the charity and enable them to ensui-e that the
financial stateinents comply with the Charities Act (Northem Ii'eland) 2008, the Charities (Accounts
and Reports) Regiilations (Northern Ireland) 2015 and the provisions of the trust deed. The trLlStees
are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps
for the prevention and detection of fralid and other irregLilarities.
The trustees are responsible for the Inaintenance and integrity of the charity and financial
infomiation included 011 the charity's website. Legislation in the United Kiiigdom governing the
pi'eparation and disseiniiiatioii of financial stateineiits Inay diffei- from legislatioii in other
jurisdictions.
Disclosure of information to auditors
In so far as the triistees are aware:
There is no relevant audit iiiformation of which charity s aiiditors are iinaware- and
The ti-ustees have taken all steps that they OLiglit to have taLen to iiiake theiiiselves aivare of
any relevaiit audit informatioii and to establ isli that the auditors are awai'e of that inforination.

Page 7
THE SIR GEORGE A CLARK BARONEI T MEMORIAL BURSARY FUND
RE4 PORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDEI D 31ST AUGUST 2022 (eoiiliiiueil)
AUDITOR
Jacksoii Aiidrews offer tliemselves for re-appointment as aLiditor for the ensiiing year.
REGISTERED OFFICE
BY ORDER OF THE BOARD OF TRUSTEI ES
Schomberg Hoiise
368 Cregagh Road
Belfast
BT6 9EY
W McKeown
Trustee
Approved by the trustees on
7*f)t

Page 8
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUI
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES AND MEMBERS
FOR THE YEAR ENDED 31ST AUGUST 2022
Opinion
We have audited the financial stateinents of Sii. George A Clark Baronet Memoi'ial Biirsary Fund
si
(Ihe 'charity') for the year ended 31 AugLlSt 2022 which coiiiprise the Stateinent of Financial
Activities, the Balance Sheet, the Statement of Casliflows and notes to the fiiiancial stateinents,
inclLiding a suminary of significant accoLinting policies. The financial i'eporting fi'amework Ihat has
been applied in their preparation is applicable law aiid United Kiiigdom Accounting Standards,
including Financial Reporting Standard 102 The Finailcial Repoi"ling Siandard applicable in ihe
UK and Repiiblic of Ji'eland (United Kingdoin Generally Accepted Accoiinting Practice).
In our opinion the fiiiancial statements:
si
give a true and fair view of the state of the charity's affairs as at 31 August 2022, and of its
total incom ing resources and expenditLire of resoiirces, for the year then ended.
have been properly prepared in accordance with United Kingdom Genei"ally Accepted
Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act (Noi1hern Ireland)
2008.
Basis for opinion
We conducted our aiidit in accordance with International Standards 011 Auditing (UK) (ISAS (UK))
and applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the aiidit of tlie financial stateiiients section of our report. We al-e indepeiident of
the chai'ity in accordance with the ethical requireineiits that are relevant to our aiidit of the financial
stateinents in the UK, including the FRC'S Ethical Standard, aiid we have fiilfilled oiir other etliical
responsibilities in accordance with these requireinents. We believe that the audit evidence ￿'e have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the fiiiancial stateinents, we have conclLided that the triistees, iise of the going concern
basis of accounting in th¢ preparation of the financial stateinents is appropriate.
Based on the work we have perforined, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doiibt on the charity's
ability to coiitinue as a going coiicern for a period ot.at least twelve months from when the financial
stateinents are authorised for issue.
Oiir responsibilities and the responsibilities of the trustees with respect to going concern are
described in the I'elevant sectioiis of this report.
Other information
The trLlStees are responsible for the other inforination. Tlie othei. infoi'inatioii coiiipi-ises the
inforinatioii incliided in the trustees". aiinLial I'¢porl: other than the fiiiancial stateinents aiid oui.
aiiditor s report thei'eon. Oiir opinion on the fiiiancial stateiiients does iiot cover the other
inforination and, except to the extent otherwise explicitly stated iii our report: we do Iiot expi'ess any
forin of assLirance conclusion thereon.

Page 9
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES AND IVIEIVIBERS
FOR THE YEAR ENDEI D 31ST AUGUST 2022 (coiiliiiued)
Other information (coiiliiiiieil)
In connection with oiir audit of the finaiicial statemeiits, our i-esponsibility is to read the other
informatioii and, in doing so, consider ivhether the other infoi'ination is materially inconsistent with
the financial statements or our knowledge obtained in the audit or otherwise appears to be
materially misstated. If we identify such Inaterial inconsistencies or apparent Inaterial
Inisstateinents, we are required to deterinine whether there is a inaterial misstateinent in the
financial stateinents or a inaterial misstateinent of the other information. If, based on the M'ork we
have perforn]ed, we conclude that there is a inaterial misstateinent of this other inforination, we are
reqLiired to report that fact.
We have nothing to report in this regard.
Matters on Ivhich Ive are required to report by exception
We have nothing to report in respect of tlie following matters iii i-elation to which the Cliarities
(Accounts and Reports) Regulations (Northern Ireland) 2015 require us to report to yoii if: in our
opinion-
the inforination given in the financial stateinents is inconsisteiit in any inaterial respect ivith the
trustees, report; or
sufficient accoiinting records have not been kept- or
the financial statements are not in agreeinent with the accounting records; oi.
we have iiot received all the information and explanations we require for our audit.
Respollsibilities of trustees
As e.xplained more fully in the trustees responsibilities stateinent set out on page 6, the truslees are
responsible for the preparation of fiiiancial stateinents which give a triie and fail. view, and for such
internal control as the triistees deterinine is necessary to enable the preparation of financial
statements that are free from Inaterial Inisstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability
to continue as a (yoing concern: disclosing, as applicable, matters related to going concern and usin
the going coiicern basis of accounting unless the trustees either intend to liquidate the charity or to
cease operations, or have no realistic alteriiative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 65(3)(b) of the Charities Act (Northern Ireland)
2008 and report in accordance with i'egulations Inade undei. section 66 of that Act.

Page 10
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES AND MEMBERS
FOR THE YEAR ENDED 3 1ST AUGUST 2022 (coiiliiiuecl)
Auditor's responsibilities for the audit of the financial statements (coiiliiiuecl)
OLli' objectives are lo obtain reasonable assuraiice aboLIt whether the financial stateinents as a whole
are free froin material Inisstateinent, whetlier due to fraiid or error, and to issiie an aiiditor s report
that incliides oiir opinion. Reasonable assiirance is a higli level of assiirance, but is not a guarantee
that an aiidit conducted in accordance with ISAS (UK) will always detect a Inatei'ial Inisstaleinent
when it exists. Misstatements can arise froin fraud or error and are considered inaterial if,
individiially or in the aggregate, they coiild reasonably be expected to iiifluence the economic
decisions of users taken on the basis of these financial statements.
Irregularities: including fraLid, are instances of non-coinpliance with laws and regiilations. We
design procedures in line with oiir responsibi lities, oiitlined above, to detect inaterial inisstateinents
in respect of irregularities, including fraud. The specific procedures for this engageiiient and the
extent to which these are capable of detecting iri'egiilarities, including fraud is detailed below:
Extent to ivhich the audit ivas considered capable of detecting irre(wularities, including fraud
We identify and assess the risks of Inaterial inisstateinent of the financial stateinents, whether due to
fi'aiid or error, and then design and perforin the audit procedures responsive to those risks, including
obtaining audit evidence that is siifficient aiid appropriate to provide a basis for oiir opinioii.
Identifying and assessing potential risks related to irregularities
In identifying and assessing risks of material inisstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations, we considered the following:
Audit response to risks identified:
the nature of the indiistry and sector, control environment and charity's financial I'esults and
position"
current COVID-19 environment
results of oiir enquiries of manageinent about their own identification and assessiiienl of the
risks of irregulai'ities;
any matters we identified having obtained and reviewed the Charity's documentation of
their policies and procedures relating to:
identifying, evaluating and complying with laws and regulations and whether they were
aware of any instances of non-coinpliance;
detecting aiid responding to the risks of fraLid and whether they have knowledge of any
actiial, SLispected or al leged fraiid; and
the internal controls established to mitigate risks of fraud or non-coiiipliance with laws
and regulations.
the matters disciissed ainong the aiidit eiigagement teain and involving relevant iiiteriial
specialists regarding how and where fraud Iiiiglit occiir in the financial stateiiients aiid
potential indicators of fraiid.
As a I'esLIIt of these procedures, we coiisidered the that tlie partlCLilar ai'eas in the finaiicial
stateineiits that were susceptible to iiiisstateinent wei-e related to Inanageineiit bias iii accountiiig
estiinates aiid judgeiMents- i-ecogiiition, classification aiid coiiipleteiiess of iiicoine. Iii coiniiion thiith
all audits iindei. ISAS (UK), we are also requii-ed to pei'forin specific pi'ocediii'es to i'espoiid to the
risk of inanageineiit overi'ide.

Page 11
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
INDEPE4 NDENT AUDITOR'S REPORT TO THE TRUSTEES AI¥D MEMBERS
FOR THE YEAR ENDED 31ST AUGUST 2022 (eoiitiiiiied)
Auditor's responsibilities for the audit of the financial statements (coiiliiiueil)
We also obtained an understanding of the legal and regLilatory frameworks that the Charity
operates in, fociising on provisions of those laws and regulations that had a direct effect on
the determination of material ainounts aiid disclosures in the financial stateinents. The key
laws and regiilations we considered in this context inclLided Charity legislation applicable to
Northern Ireland, Charity's governing docuinent, einployment law: healtli and safety and tax
legislation.
In addition, we coiisidered provisions of other laws and regLilations that do not have a direct
effect on the finaiicial statemeiits bLIt conipliance witli which Inay be fuiidainental to the
Charity's ability to operate or to avoid a inaterial penalty.
Our procedures to respond to risks identified incliide the following:
identifying and assessin(F the design effectiveiiess of controls Inanageinent has in
place to prevent aiid detect fraud;
reviewing the financial statements disclosures and testing to supporting
docuinentation to assess coinpliance with provisions of relevant laws and
regiilations described as having a direct effect on the financial statements.
enquiring of management and external legal advisors concerning actual and
potential litigatioii and claims;
performing analytical procedures to identify any iinusual or unexpected
relationships that inay indicate i'isk of material misstateinents due to fraud-
reading miniites of meetings of those charged with governance.
obtaining an understanding of provisions and holding discussions with
manageinent to understand the basis of recognition" and
in addressing the risk of fraiid thi'ough inanageinent override of controls, testing
the appropriateness of joiirnal entries and other adjiistiiients iiicliiding those
relating to revenue i-ecognition; assessing whether the judgements Inade in making
accounting estiinates are indicative of potential bias; and evaluating the ratioiiale
of any significant transactions that are large, Iinusiial or outside the norinal coiii'se
of the charity's activities.
We also coiiimunicated relevant identified laws and regulations and potential fraud risks to all
engageinent teains Ineinbers incliiding internal specialists aiid remaiiied alert to any
indications of fi-aiid or non-coinpliance with laws and re(yulations throii(Fhout the audit.
Becalise of the inhereiit liinitations of an aiidit, there is a risk that we will not detect all
irregLilarities: iiicliidiiig those leading to a Inaterial misstateinent in the financial stateinents or
non-coinpliaiice with regulation. This risk increases the inore that coiiipliaiice with a laiv oi.
regiilalion is reinoved froin the eveiits aiid ti'ansactions reflected in the financial statements, as
we will be less likely to becoine awai'e of instances of iion-coinpliaiice.

Page 12
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
INDEI PENDENT AUDITOR'S REPORT TO THE TRUSTEES AND MEMBERS
FOR THE YEAR ENDED 31 ST AUGUST 2022 (coiiliiiuL){l)
Auditor's responsibilities for the audit of the financial statements (coiiliiiued)
The risk is also greater I'eiyai-ding ii'regularities occuri'ing due to fraud rather than error: as fraud
involves intentional coiicealiTJent, forgery, collLision, omission or inisrepresentation. We are iiot
responsible for preventing non-compliance and cannot be expected to detect noii-compliance with
all laws and re(Fulations.
As part of an audit in accordance with ISAS (UK): we exercise professional jiidginent and inaiiitain
professional scepticisin throughoLlt the audit. We also:
Identify and assess the risks of material misstatement of the financial statements, whether diie to
fraud or error, design and perforin aiidit procedures respoiisive to those risks, and obtain aiidit
evidence that is siifficient and appropriate to provide a basis for oui. opinion. The risk. of not
detecting a material misstatement resiiltiniF froin fraud is higher than for one resultiiig froin
ei'ror, as fraud may involve colliision, foi'gery, intentional omissions, Inisrepresentations, or the
overi'ide of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procediires that are appropriate iii the circuinstances, but not for the piii-pose of expi'essiiig an
opinion on the effectiveness of the charity's iiiternal control.
Evalliate the appropriateiiess of accoiinting policies iised and the reasonableness of accounting
estiinates and related disclosures inade by the trustees.
Conclude on the appropriateness of the trustees, use of tlie going concern basis of accounting
and, based on the audit evidence obtained, whether a inalerial iincertainty e.xists related to
events or conditions that may cast significant doubt on the charity's ability to continue as a
going concern. If we concliide that a Inaterial uncertainty exists, we are required to draw
attention in oiir auditor's report to the related disclosures in the finaiicial stateinents or, if such
disclosures are iiiadeqiiate, to Inodify oiir opinion. Oiir concliisions are based on the aLidit
evidence obtained lip to the date of oiir auditoi. s report. However, future events or conditions
may caiise the charity to cease to continue as a going concern.
Evaluate the overall presentation, striicture and content of the financial statements, including the
disclosiires, and whether the financial stateiiients represent the underlying transactioiis and
events in a maiiner that achieves fair presentation.
We cominiinicate with those charged with governance regarding, ainoiig other Inatters, the planned
scope and timing of the audit and significant aiidit findiiigs, inclLiding aiiy significant deficiencies in
internal control that we identify during our aLidit.

Page 13
THE SIR GEORGE A CLARK BARONEI T MEMORIAL BURSARY FUND
INDEPEI NDENT AUDITOR'S REPORT TO THE TRUSTEES AND MEMBERS
FOR THE YEAR ENDED 31ST AUGUST 2022 (coiiliiiiieil)
Use of our report
This i'epoit is inade solely to the charity's trLlStees, as a body, in accordance with Part 4 of the
Charities (Accoiints and Reports) RegLilations (Nortliern Ireland} 2015. Oiir audit woi'k has been
iindertaken so that we might state to tlie eliarity's triistees those Inatters we are required to state to
them in an aLiditor's report and for no otlier purpose. To the fLillest extent pei'mitted by law: we do
not accept or assume responsibility to anyone other than the charity and the charity's trustees as a
body, for our audit work, for tliis report, or for the opinions we have formed.
JACKSON ANDREWS
Andras Hoiise
60 Great Victoi'ia Sti-eet
Belfast
BT2 7ET
Cliartered Accountants
& Registei"ed Auditor
Dated:

Page 14
THE SIR GEORGE A CLARK BARONEI T IWIEMORIAL BURSARY FUND
STATEIWIENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDEI D 31ST AUGUST 2022
Restricted
Unrestricted Endoivment
Funds
Funds
Total
Funds
2022
Total
Fiinds
2021
Note
INCOME FROM:
Donations and legacies
Investinents
Other incoine
7,805
15,615
136
1,715
9,520
15,615
136
9.789
14.638
141
TOTAL INCOME
23,556
1,715
25,271
24.)68
EXPENDITURE ON:
Charitable activities
Investment manageinent costs
13,036
4,339
13,036
4,339
21.028
TOTAL EXPENDITURE
17,375
17,375
NET
INCOME/{EXPENDITURE)
BEFORE GAINS ON
INVESTMENTS
6,181
1,715
7,896
189
Net gains/(losses) on investments
(37,824)
(37,824)
82.893
IYET
INCOME/(EXPEI NDITURE)
6,181
(36,109)
(29,928)
RECONCILIATION OF
FUNDS:
Total fiinds brought forward
(3,952)
493,066
489,114
406,032
Total funds carried forward
2,229
456,957
459,186
489,114
The Fund has no reco(Fnised gaiiis or losses iii the year other tlian
those iiicluded in tlie net Inoveiiient of fiinds.
All of the operatioiis of the FLind are classed as continuing.

Page 15
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
BALANCE SHEET
AS AT 31ST AUGUST 2022
2022
2021
Note
FIXED ASSETS
Investinents
10
391,572
451,850
CURRENT ASSETS
Debtors
Short terin deposits
Cash at bank and iii hand
11
399
52,975
17,224
1,182
18,566
19,316
70,598
39,064
CREDITORS: amounts falling due
within one year
12
(2,984)
(1,800)
NET CURRENT ASSETS
67,614
37,264
NET ASSETS
459,186
489,114
CHARITY FUNDS
Restricted
Endowinent (capital)
13
456,957
493,066
Unrestricted
General income fLinds
13
2,229
(3,952)
459,186
489.114
7*1,, I
These financial stateineiits were approved by tlie Board of Trustees on
behalf by:
Iv and are sioiied on thei
1444 (:
TRUSTEE
TRUSTEE
Date:
Date:
I￿￿J￿1].0 >41
6 fjif ZS'j•44trJ
Tlie noles on pxges 17 to ?4 form part of these financial stateiiiei)Is.

Paoe 16
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
STATEIVIENT OF CASHFLOWS
FOR THE YE4 AR ENDED 31ST AUGUST 2022
2022
2021
Iyote
Cash floiv from operating activities
15
(5,752)
(14,988)
Net cash flow from operating activities
(S,752)
(14,988)
Cash floiv from ini'esting activities
Dividends aiid interest froin investments
Payments to acqiiire investments
Receipts froin sales of investiiients
15,615
{31,958)
i4,412
{67,208)
Net eash floiv from investing activities
38,069
i,772
Net cash floiv from financing activities
Net decrease in cash and cash equivalents
32,317
(9,216)
Cash and cash equivalents at 1st September 2021
37,882
47,098
Cash and casli equivalents at 315t August 2022
70,199
37.882
Cash and cash equivalents consist of:
Shoitt terin deposits
Casli at bank and in hand
52,975
17,224
30,830
16.268
st
Cash and cash equivalents at 31 August 2022
70,199
47.098

Page17
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
NOTEI S TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2022
I. ACCOUNTING POLICIES
(a) General information and basis of preparation
The Sir George A Clark Baronet Memorial Biirsary Fund is a charity registei'ed with The
Charity Coininission for Northern Ireland, reference nuinber NIC 101106. The address of the
registered office is given in the charity inforination on page l of these finaiicial stateinents.
The charity is establislied under a trLlSt deed.
The charity constitutes a piiblic beiiefit entity as defined by FRS 102.
Statement of com
liance
The fiiiancial stateinents have been prepared on the going concern basis under the historical cost
conveiition and in accordance with Accountiiig and Reporting by Charities: Statemeiil of
Recommended Practice applicable to charities preparing their accounts in accordance ivith the
Financial Reporting Standard applicable in the UK and Repiiblic of Irelaiid issiied in October
2019, the Financial Reportintr Standard applicable in the UK and Repiiblic of Ireland (FRS
102), the Charities legislation in Northern Ireland and UK Generally Accepted Accounting
Practice.
The significant accounting policies applied in the preparation of these financial statements are
set out below. These policies Iiave been consistently applied to all years presented unless
othenvise stated.
These finaiicial statements have been prepared under the historical cost convention, as modified
by the revaluation of investinents.
The financial statements are prepared in sterling, which is the functioiial currency of the entity
and roLinded to the nearest £1.
(b) Funds
Unreslrictedfiinds..
General funds are available for Lise at the discretion of the trLlStees in furtherance of the (Feneral
objectives of the charity which have not been desionated foi. other piirpose.
Resli"ictedfund3.'
The restricted funds represent endowiiieiit fiinds whicli are applied foi. investinent piirposes and
compi'ise the initial TrLlSt FLind held by the trustees on the charitable trLlSts declared by the
Indenture of TrLlSt Inade on the I I, Febi'Liary 199J and any furthei. fiinds received to be held on
the saine trusts.

Paoe 18
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EI NDED 31ST AUGUST 2022 (coiiliiiiieil)
ACCOUNTING POLICIES (eoiiliiiuecl)
(c) Income recognition
All incoming resoLirces have been included in the financial stateinents iising the accruals basis
except for donations, legacies and bequests which are included in the financial statements using
the receipts basis.
Investment incoine is earned throii(Fh holding assets for investinent piirposes such as fixed
interest securities and eqiiities. It iiiclLides dividends and interest. Dividend income is recognised
as the charity s right to receive payment is established.
Incoine derived from investments can be expended at the discretion of the trLlStees in
furtheraiice of the objects of the Fund. All other income is credited to Endowinent FLinds except
donations received froin the Grand Orange Lodge where the Trustees have the power to use as
income or capital funds.
(d) Expenditure recognition
All expenditiire is accoiinted for on accruals basis and has been classified under headings that
aggregate all costs related to the category. Expenditure is recognised where there is a legal or
constructive obligation to inake payinents to third parties, it is probable that the settleinent will
be required and the ainouiit of the obligation can be measured reliably. It is categoi'ised under
the following headings:
Expenditiire on charitable activities includes bursary grants, support costs includiiig
governance costs. and
Investment inanageiiient costs include investment manager's fees.
Where costs cannot be directly attribiited to a particular heading they have been allocated to
activities on a time basis relative to and on a basis consistent with the iise of the resoiirces.
(e) Investments
Investinents are initially recognised at cost and subsequently, they are measured at tnarket value
at the balance sheet date. Unrealised gaiiis / (losses) on revaluatioii of investments: in addition
to realised gains / (losses) on sale of investinents, are credited or chai'ged to Eiidowinent Funds
in the Stateinent of Financial Activities.
(O Debtors and creditors receivable I payable Ivithin one year
Debtors and creditors witli iio stated interest rate and receivable oi. payable within one year are
recorded at ti'ansactioii price. Aiiy losses arisiiig fi'oin iinpairment are recognised in e.xpeiiditure.

Page 19
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
NOTE4 S TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2022 (coiiliiiiie(l)
ACCOUNTING POLICIES (coiiliiiiied)
(g) Impairment
Assets not measured at fair valLie are reviewed for any indication that the asset Inay be impaired
at each balance sheet date. If such indication exists, the recoverable ainount of the asset, or the
asset.s cash generating iinit, is estiiiiated and compared to the carrying amoiint. Where the
carrying ainoiint exceeds its recovei'able ainoiint, ali iinpairinent loss is recognised in profit or
loss unless the asset is carried at a revalued ainoiiiit where tlie iinpairinent loss is a revaluation
decrease.
(h) Going concern
The fiiiancial stateineiits have been prepared on a going concerii basis as the trustees believe
that no material uncertainties exist. The trLlStees have coiisidered the level of funds held and the
expected level of incoine and expenditure for 12 moiiths from authorisino these financial
stateinents. The budgeted income and expenditure is sufficient with the level of resources for
the charity to be able to continiie as a going concern.
2. DONATIONS AND LEGACIES
Restricted
Unrestricted Endowment
Funds
Funds
Restricted
Total Unrestricted Eiidowment
Funds
Funds
Funds
2022
Total
Funds
2021
Donations and gifts
7,805
1,715
9,520
7,924
1,865
9,789

Page ?0
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
NOTES TO THE FINANCIAL STATEl￿ENTs
FOR THE YEAR ENDED 31ST AUGUST 2022 (coiiliiiiiLJd)
INVESTMENT INCOME
Unrestrictcd
Funds
Total
Funds
2022
UIiiEStTlCted
Funds
Total
Fuiids
2021
UK dividends
Non UK dividends
Otlier gross ittcoine
Property incoine distributions
Noii UK interest
Interest on deposit
6,876
2,093
5J08
1,263
68
6,876
2,093
5,308
1,263
68
6,571
995
5,723
1,273
59
17
6,571
995
5,723
1,273
59
17
15.615
15,615
14,638
14,638
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
Activities
undertakcn
directly
Grant
funding of
activities
Support
costs
Total
2022
Bursary grants to individuals:
Category I
Categoiy 2
Category 3
Category 4
Governance costs
200
9,200
200
200
200
9,200
200
200
3,236
3,236
9,800
3,236
13,036
Activities
Lindertaken
dii'ectly
G12nt
fiinding of
activities
Support
costs
Total
2021
Bursary grants to individuals:
Category I
Cate(rory 2
Categoiy 3
Category 4
Goveriiance costs
600
16.800
900
600
16.800
900
2,728
2,728
18,300
2.728
£ l J,Oi6 (2021 £?1.028) of tlie above costs were atti'ibiitable to unrestricted fiiiids. £Nil (2021 £Nil) of the
above costs were attribLltable to resti'icted fuiids.

Page21
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2022 (coiitiiiuecl)
GOVERNANCE COSTS
Total
2022
Total
2021
Auditor's remuneration
Bank fees
TrLlStees' i'emuneration
TrLlStees' expenses
Other fees
3,000
50
2,400
70
186
258
3,236
2,728
NET INCOMEI(EXPENDITURE) FOR THE YEI AR
This is stated after charging:
2022
2021
Auditor's remuneration
(Gains)/losses on fair value movement of investments
3,000
37,824
2,400
(82,89))
AUDITOR'S REMUNERATION
The auditor's reinuneration amounts to an audit fee of £3:000 {2021- £2,400).
8. STAFF COSTS, TRUSTEES AND KEY IIqANAGEMENT PERSONNEL
REMUNERATION AND EXPENSES
The Fund did not have any employees in the year. The trustees neither received nor waived any
remuneratioii during the year £Nil (2021 £Nil) and none al'e accrLiing pension benefits (2021
none).
The trustees did not have any expenses reiinbiirsed during the year £Nil (2021 £Nil).
The Ley management personiiel are considered to be the trLlStees and tolal ainount of einployee
benefits received by key management persoiiiiel is £Nil (2021 £Nil).

Page 22
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2022 (conliiiiiecl)
9. TAXATION
The charity is not registered for VAT and accordingly, all their expenditiire is inclusive of VAT
inciiri'ed.
10. FIXED ASSET INVESTMENTS
2022
2021
Market vallie at I, September 2021
Additions
Withdrawals
Unrealised gains/(losses)
451,850
31,958
(59,906)
(32,330)
360,091
67,208
(56,4i5)
81,006
Market value at 31" August 2022
391,572
451,850
Investments at market value comprise".
2022
2021
UK Equities
Overseas Equities
Bonds
Global
Alternative investments
142,230
75,811
49,874
46,863
76,794
174,298
72,581
79,087
56,455
69,429
391,572
451,850
The investinents of the Fund are managed by Evelyn Partners and are held in the naine of Evelyn
Partners Investment Services Limited on the Fund's behalf. The fair valiie of listed inveslmeiits
is determined by reference to their market value as at the balance sheet date as provided by the
investmeiit managers, Evelyn Partners.
11. DEBTORS
2022
2021
Tax i-epayinent dLie
Accriied iiicome
253
146
806
399
1.182

Page 23
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
NOTEI S TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 ST AUGUST 2022 (coiiliiiiieil)
12. CREI DITORS: amounts falling due within one year
2022
2021
AccrLials and deferred income
2,984
1,800
13. FUNDS
Restricted
Endowment (capital) fiinds
2022
2021
Unrestricted
General incoine funds
2022
2021
Balance at I" September 2021
493,066
408,308
(3,952)
(2,276)
Net movement in year
(36,109)
84,758
6,181
(1,676)
Balance at 31" August 2022
456,957
493.066
2,229
(3,952)
Unreslricledfiinds..
General funds are available for use at the discretion of the trustees in furtherance of the general
objectives of the charity which have not been desi(Fiiated for other purpose.
ReslricledfuF7ds.'
The restricted funds represent endowinent fiinds which are applied for investment piii-poses and
coinprise the initial Trust Fiind held by tlie trustees on the chai-itable trLlSts declared by the
Indentui-e of Trust Inade on the I I, February 1993 and any fui'ther funds received to be held on
the saine triists.
14. ANALYSIS OF NET ASSETS BETWEEI N FUNDS
Fixed
Asset
Investments
Net
Current
Assets
Total
2022
Restricted funds- endowinent (capital) funds
391,572
65,385
456,957
Unrestricted funds- general income funds
2,229
2,229
391,572
67,614
4)9,186

Page 24
THE SIR GEORGE A CLARK BARONET MEMORIAL BURSARY FUND
NOTE4 S TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2022 (coiitiniied)
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS (Loiiliiiued)
Fixed
Asset
Investinents
Net Ciirrent
Assets
Total
2021
Restricted funds - endowment (capital) funds
451,850
41,216
493,066
Unrestricted fiinds- general incoine funds
(3,952)
(3,952)
451.850
37,264
489,114
15. REI CONCILIATION OF NE4 T INCOMEI(EXPENDITURE) TO NET CASH FLOW
FROM OPERATING ACTIVITIES
2022
2021
Net iiicome/(expenditure) for year
(29,928)
(Gains)/losses on investments
Dividends and interest from investinents
(Increase)/decrease in debtors
Increasel(decrease) in creditors
37,824
{15,615)
783
1,184
(82,893)
(14,638)
(539)
(539)
Net cash flow from operating activities
(5,752)
(14,988)
16. FRC ETHICAL STANDARDS
In cominon with maiiy other organisations of our size and nature we use our aiiditors to prepare
and subinit returns to the tax authoi'ities and assist with the preparation of the financial
statements.
17. RELATED PARTIES
The Grand Orantre Lodge of Ireland is a related party of Tlie Sir George A Clai'k Baronet
Memorial Biii'sary Fund. The charity received a donation of £7,805 (2021 £7,924) froiii the
Grand Orange Lodge of Ireland.