COMPANY REGISTRATION NUMBER N1019008 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS 31 DECEMBER 2022 Charity Number NIC101111 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Financial statements Year ended 31 December 2022 Contents page Members of the board and professional advisers Trustees, annual report Independent auditor's report to the members Statement of financial activities (incorporating the income and expenditure account) 10 Balance sheet 11 Cash flow statement 12 Notes to the financial statements 13 Page 1 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Members of the board and professional advisers Registered charity name Ardbarron Trust Limited Charity number NIC101111 Company registration number N1019008 Principal and registered office 9 Hightown Avenue Ballywonard Newtownabbey Co Antrim BT36 4RT Trustees MrJRHAgnew Mr M J Agnew Mr G W Agnew Mr M R Johnston Mr l J Maccorkell Mr E J Boyle Auditor BDO Northern Ireland Chartered Accountants & Statutory Auditor Metro Building, 1 sl Floor 6-9 Donegall Square South Belfast BT15JA Bankers Danske Bank PO Box 183 Donegall Square West Belfast BT16JS Solicitors Hewitt & Gilpin Thomas House 14-16 James Street South Belfast BT16JS Edwards & Co. Solicitors 28 Hill Street Belfast BT12LA Page 10 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Statement of financial activities (incorporating the income and expenditure account) Year ended 31 December 2022 Resti'icte(l Uiii'estriete(l Total Fun(Is Total fiin(Is Fuiids Fiiiids 2022 2021 Note Ineoilliiig resources Iiicoiii ii)LF I'¢sources from geiiei'ating fLiiid%.' Donatioiis Invcstincnt incoine 7,830,000 149,666 7,979,666 7,830,000 149,66C) 5,334,000 27,000 Total incoming resoui'ces Resoiii'ees expL'nilL'(I Costs of geiiei'atiiig fiinds= Investineiit Inaiiagcinciit costs Cliarit£iblL activities 7,979,666 5,361.000 (3.279) (6,617 ){ 33) (6,617,933) (4.987,207) (6,617,933) (6,617,933) (4,990,486) Totlll I'esoiii.L￿ expeiiile(I Nct inLomiiigl(out¥oiiig) resources for the yeai. 1,361,733 1,361,733 370,514 36,331,652 36,331,652 30,456,165 37,693,385 37,693J85 30,82C),679 Uiirealised gaiii.% on investmeiit5 Net income for the year Reconciliation of fiiiids Total funds bi'oiight forward Tot#1 fiinds cai"rie(I forward 11 219,107,253 219,107,253 188,280,574 256,8110,638 256,801),638 219,107,253 The Slateinent of financial <2Ctivities iiicliides all gaiiis aiid1055es in Ilie year. All oftlie above amollllts relate to coiitiniiiiig activities. The notes on pages 13 to 20 form part of these flnancial Statements. Page 11 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Balance sheet 31 December 2022 2022 2021 Note riixed assets Ii)vestiiieiits 11 255,270,619 218,938,967 Ciii'rent assets Debiors Ciisll at bank 12 13 180,060 1,356,164 45,343 125,943 171,286 1,536,224 CrL.ditoi's: Amounts fallfftng due Jyithin oiie yeai. 14 (6,2US) (3,000) Net cui'rent assct 1,530,019 168,286 Total assets less euri'ent lial)ilitics 256,800,638 256,800,638 219,107,253 21C),107,253 et aysvts Iliiresti'icted iiicoine fiii)d8 Re.sli'icted incoii?e fuiid8 16 256,8VO,638 219,107,253 Total funils 256,801),638 219,107,253 Tliese fiiiancial statcmeiits liave b¢eii pi'epared iii accordaiice with (lie special pi'ovisions foi. siiiall coiiipaiiie% uiider Pai't 15 of tlie Coimpaiiics Act 2006. These fiiiaiieial stateiiieiits were ai)proved by tlie ti'ust¢es on 5 September 2023 1( nd are sigiied oli their belialf by: Mr J R Fl Agneiv Cliai'ity Triiste¢ Coinpany Registratioii Nuinber: N1019008 The notes on pages 13 to 20 form part of these financial statements. Page 12 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Cash flow statement 31 December 2022 2022 2021 Note Casli flu)vs from vi)L'fllting %clivitics Nel iiicomiiig resoiir¢¢s 1,361,733 370,514 Adjii.Ilnienlsfop Iiicoine froin iiivestiiieiil's Profit oli sale of iiiv¢stineiit property ( 1,000) (26,000) Changes in." (IiicreAse)/ilecrcase in (lebtor8 Iii¢i'easel{deci'ease) in cr¢ditoi'.s (134,717) 3,205 1,002 (304,011) Net casli genei-ate(I fi.01￿ opei'atiiigT activities 1,230,221 40,505 Casli flows fi'om investillg altivilies Incoine ti'oin investineiits Proceeds from sale of ii)vestiMent property Ac£iLll%ition cost of shares in invLstm¢iits Net CciS1I grencrated Fruin ii)vestiiig aclivilies 1,000 126,000 (73 1,101) (604,101) Net inci'ease/(decrease) in cash iii tlic yeai" 1,230,221 (563,596) Casli aii(I cash equivAleMits at bcginlliiig of ycar Cash aii(I cash equivalcnts at enil of year 125,943 68C),539 13 lJ56,164 125,943 The note5 on pages 13 to 20 form part of these financial statements. Page 13 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Notes to the financial statements Year ended 31 December 2022 Generiil infoirynation Tli¢ cliaritable coinpaiiy is a private coinpaiiy liniited by guai-Aiitee witlioiit share capilal, registered iii Noithcri) Ii'elaiid. Tlie addre.qs of tlie registered office is 9 Higlitown AvenLIe, Ballywoiiai'd, Ne¥vtownabbey, Co Aiilriin, BT36 4RT. 'riie pi'iiicipal aLtivity of tlie piibliu benefit enlity duriii¥ tlie year was ilie proinolion of ilie Christiaii Gospel in Wol'd aiid Deed. Stateinent of compliance I'liese finaiicial stateiiieiits liave beeii pi'epared iii accordaii¢e ivitli Accollllting diid Repoiling by Cliai-ities: 8tateineiit of Recoinnieiided Pi'aclice appliLcibl¢ lo cliarities preparing tliLii' accouiits ii) accoi'daiice witli the Fiiiaiicial Repoilii)g Staiidaid cl1)i)licable in tlic UK aiid R¢piiblic ot Ii-el(Iiid (FRS 102), aii(I Ilie C:oinpaiiies ALt 2110C). AccountAng poliLiLs Basi8 of piyparation Tlie fii)ai)cial statemeiitq havc beeii pirparcd undei. thc liistoriLal cost coiivenlioii, cxcept tor iiivcstmeiits wliicli ai'¢ iiicltided (it Imarket V<11ue. Tlie fiiiaiicial stateineiits liave bevn prcpared 011 d gyoing concbi'n basi8 wliich assiiines tliat the conipaiiy will coiiliiiue iii opi'i'ational existenLe for tlie foi'esecable futLlI'e. "I'lie validity of 151is a.%siiinptioii dei3eiicls LlPOlI tlie L()i)tillLied siii)i)i)rt fi'oin tlie compaiiy's baiilier% aiid flinders. Tli¢ tl'LlStees believe tliat it is ai)pr()i)riate foi. tlie finaiiciic I stateiiients to be i)rei)ared 011 tl)c goiiig coiicerii bclsis. 'I'lie entily is a piiblic beiiefil eiitily as defined by FRS 102. Tlic tiiiancial stcltciments aro pi'esenlcd in stci-l iiig. whicli Is the fiinctional ciirren¢y oftlie entity. Juilgements and key source5 of estimation uncertainty Tlie prei)ai-atioii of ilie financial statcmeiits I'eqiiircs maiiageineiit to make jiidgeinents, estimates aiid assiiinptions tliat affect tlie aii)ouiits I'eported. Tliese estiinates aiid judgeimeiits are coiIIiiiiiRlly reviewed aiid are base(l oli expei'ieiice aiid otlier factoi's, iiicluding expeclatioiis of fiitiire eveiits thclt al-e believed lo be Irasonable iindei. the circiiinslances. Page 14 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Notes to the flnancial ststements Year ended 31 December 2022 Aeeoiintiiig policies (coiiiiiiiie(l) Judgeinents ￿￿{] Iicy soiirL'es of Lstimalioii uiicertainly (eoiiliiiii*il) Tlie ti'iistees Eti'e of the opinioii that iio significant jLidgenieiits wei'e I'equii'ed in pi'epariiig tlie fiiiaiicial stateineiits. Accoiiiitiiig estiinates aiid assiiiiiptioiis are Inade coneei'iijiits the fiitui'e ai)d, by tlieii. natiire, will l