COMPANY REGISTRATION NUMBER N1019008 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS 31 DECEMBER 2023 Charity Numb8r NIC101111
ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Flnancial statements Year ended 31 December 2023 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 Règistered charity name Ardbarron Trust Limited Charity number NIC101111 Company registration number N1019008 Principal and reglstered office 9 Hightown Avenue Ballywonard Newtownabbey Co Antrim BT36 4RT Trustees MrJRHAgnew Mr M J Agnew Mr G W Agnew Mr M R Johiiston Mr l J Maccorkell Mr E J Boyle Auditor BDO Northern Ireland Chartered accountants & statutory auditor Metro Building, 1 st Floor 6-9 Donegall Square South Belfast 8T15JA Bankers Danske Bank Donegall Square West Belfast BT16JS Solicitors Hewitt & Gilpin 8 High Street Holywood BT18 9AZ Edwards & Co. Solicitors 28 Hill Street Belfast BT12LA
Page 2 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Trustees, annual report Year ended 31 December 2023 Tlic Iruslees, who al'e also dii'eclOI'.8 for the pUObes uf Lompany law, present thcii- Itport aT)d the finailcial statements of Ilie chai'ity foi. Ihc yeai. elided 31 Deceiiibei. 2023. Refei"ence and adnilnl&¢rative detAIIs Registered Office.. 9 Hightown Aveiiue, Newtownabbey, Co Anlrim, B T36 4RT Compdny Regisli'dtion Nu.: N101900R Noitljern Ireland Cliai'ity Commissiort No.- NIC I O I I I I Tlie trustees The irustees who served Ihe charity durftiig the period wei'e as follows.. Mr J R H Agiiew Mr M J Agnew Mi. G W Agnew Mr M R Johnston Mr l J MiieCorkLII Mr E J fjoyle {appoiritcd 15 FebnJi2ry 2023) (appoiiited 15 FebNary 2023) Mr M R Johnston i'esigned as a ti'uslee on 4 Marcli 2024. Guvernliig DvLuineiit 'l-h¥ oi-&iani8atioii is a cliai'ital)le coinpai?y limited by LJuai'antcL. incoi'pnralcd on 12 1)LLLrnbcr 1985, and as such Ihe liability of f4tch of it.s membcrs ib liinited. -file Lompdny 1.% govcrned by ils board nf trustccs who opeR7te &s dctailed in the governing) document lor Ihc Lharity, wh icl) is Memoi'anduin and Articles ot- Association. In thL Lvent of thc GUEnpany heinE woiind lip membct"¥ arc rcquircd lo LunlribiitL dn atnoiint exceeding £1. Appointment of 'l-ruytee5 Uiidcr thc requircments of Ihc Meinorunduin and Aiticlcs of Association, tlie eompaiiy mlly from tirnc to time in General Mectiiigs inLreabb oi. rcducc thc number of tstee5. and deleimine in what i'otation sucli incrtyascd or I'cduced numbLI' shall gi) out of offibL. and make the appointmenly necessary for effccting atty sih incrEase. Truslee Induction and Training 'riustLC members di-c familial- with th¢ pr&ctical rolc ot. th¢ cliarity. Additional n¢w trustees will bc cncouragcd lo all¢nd appi'opriale extcmal training events wh¢r¢ Iliese will facilitate thc undertal(iiig of Ilicir role. Organisatlon The boai'd of truste¥s nianage nd dii.ect the ¥harity. The board of knustees m¢ct regularly to facilitate effe¢live oi)eratioiis and ensur¢ the charity delivei's th¢ services specificd.
Page 3 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Trustees, annual report Icontlmuèd Year ended 31 December 2023 Related PartlLS Tliree of tl)e trustees are also dii'¢¢lors ol" Jolin Henderson (Holdings) Limited. Two of these Iruslees re also diiEctois of Hendeison Wliolesale Limited. Hendei'soii Retail Lii)iited, Hendei'sot) Foodservice Liniit¢d, Il¢ndcr.son Ciroiip Prop¥rty Limited, John Httnderson (Mallusk) Limited, Hendeison Teclinolug'y Limited and Rash Nl Limilcd. Thc compaiiy holds R,860 £1 'A' oi-diiiclly shdL'¢S (24.9/0 of totall, 80,114 £1 'B' ordinc2ry iion-voting shares (I OOO/o of iotal) and 1,179 £ I 'C' ordinary non-v()ling.%hares ( IOOO/o of total) in Joh l-Eendei'8on (Holdings) Liniited. Rlsk M*n2%¢m¢nt The comp<qliy has a risk management strategy in place which compyises ali ai)iiual review of the m(ljOi' I"isks' to whicli the cliarily Is Lxpused, in pai'ticular Iliose rclc1tcd lo the operations aiid finaiiccs ot tlie coÉnpany, and the e.stahlishineiil of 5y,slcms aiid proccdurLs to mitigat.e thosc riskts. The board ot tiwstees are sali&ti¥cl that systeins air in pli( cc lo niiligdlc cxposutc lu IhL niajoi- risks. Objectiyes and activities PMrpo.se.I 'riic Trust cxists to proniotL IhL Lhiislian Ciospel iii Word and Deed, to help in the pi'evenlion and I'eliet ot- p()veity, tlie i)rovision of hcalthcare dnd lilerauy. dnd Lhc rclief of thos¢ in need by i"eason or youth. agc, ill-h¥iilih, disability, financial hai-dsliip oi- othei- disadvaIitage. Beiiefieiue, The ultimcile beiiefiLiurtLS dLL p¢uple in Ilie UK and throughout tlic woi-ld as grants are pi'ovided to UK I'ttgi.steitd chai'ities And chaiities opei'aling in the D¥vLlvping woi'ld. Aclivilies o achieve its purposes, the Tru,st providcs financial support by way of Lrarjts. To 1112ke tliis disti'ibutioii of grants POb%ibl#, the Trust received a donatioti fiDm John Flendci'son (HoldingFs) Limited. Regular feedback is provided by the chdritlLb SUPPOrted. Publftc Benefit,StateJllentlDeclaraliun Thc trustees liave taken insti'iiction on bolh ihe Charittes Act (Northern li-cland) 2008 and the Conipantcs Abl 2006. They have considered in purticulai- the obligations impo.ged under tlie public bettelits test nf thc Cliarilics Act {North¢rn Irelund) 2008 and can contirm that the cl)arity mLLt.% th¢ Lrilcria s¢t down thercin. Ai'dbarron Trnst Limited became r¢gi8¢ered with 'fhe Charity Commission for Northern Ireland ot) 20 March 2015. Achievements Dui-ing tlie year undei. r¢view. th¢ Trust awai'ded gi'ants lolalling £7,556,609 to 307 organisations Tecognised for theii. work and experienLc in the ai-eas sp¢¢ificd. Beneficiai'ies (Ire assessed and decisioiis are Tnade based on thc tnistccs, understanding of thcir ability to use grant% wisely iii fulfilliiig their objeclives, aligned to Ilie Trust's objective8. Restrictions on who cali benefit Givcn thc broad range of organisations that rc¢¢iv¢ bJi'ants froni the Trust. thei'e aTe 110 restrictions otL who can ultimately benefit fi'om tlie Tiijst's activities in financially supporting thos¢ orgai)i8Atioiis who are providing services ai)d opportunitie.% foi. the iinprovenient ot'all.
Page 4 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Trustees, annual report Iconllnuedl Yaar ended 31 December 2023 HAI'M It is considei-ed that Ilie public benetils of the Trust's activities outweigh any pol¢nli&l llarni. Private Benefit Grants 4ire paid direct to IEgislered cliarities and as su¢li tlieic sliould be iio pi'iv&le benefit. Modest grants to smuller local chaiities arc considcred in¢id¢nlal. Any pl'ivatc benefit that niay aris¢ is considered incidental to the public benefit. FinaTILial review 'I'hc dctriil¢d I'¢siilis foi the pei'iod. and the company's linancial positioii at the peL'iod end are sliown i the uttauhcd financial slatcm¢nt¥. The total unitslricl¥LI incotninLJ resoiii'ces toi- the pei'iod ainounled lo £9,373,441 {2022.. £7,IJ79,666). with expeiidilui'c of £7,652,7C)1 (2022.. £6,617,933), re.sultiI)g in net iiicon)ing i'csoui'Les foi. tlie yeiir ()r £1,720.680 (2022.. LI.361.733). Tliere We also unrcaliscd gain& on iiivestmbnlb uf £18,784,110 {2U22.. £36.331,652). I'his leaves uvjre.%trictcd tiinds of £297,305,428 (2022.. £256,800.638) at the ycar end. Tbe niain inconiing irsources of tlic ch&ri¢y donations. Reserves Policy TIIL trustees feel that as Ihc level of charildbl6 cxp¢nditure iii any one period is bd.%cd on the level of doiialions i#tyeived iii that pcriod an(11112t the ai110111I1 of kdininiblraliv¥ expeiiditurc is minimul, th compatiy does not need to Iiold significant anioutits in reseives. At pi'¢%ent thei'e drc posilive ti'ee JESeeS ot-£3,250,699 (2022.. £1,53U.019). Plaiis fill- ft'uttsrL periudb The cuinplilly plaiis to coiitinue tlie activitie.s outliiicd above in the furlhLoining years. Statement of C.thmplianee- Public Benefit In establishing the objectlvcs and planntng ()f distribution of grants for the yeai., tlie tr115tee% h8ve given careful collsidcration to the Ch¢Lrily L'omimission tor Northeiii Ircland's guidance (Scclion 4 of the C,'liarilies Act (Northei'n Ir¢land) 2008) nil public bcnefil to eiisure IhiE I Ihe activities have helped to acl)ieve ¢h¢ Trust's purposes aiid provides a b¢nefit lo beneficiaries. Trustees. respon51bllld*s statement Thc liustees (who al-e also the Ilii'e¢lors of Ardb(InDii Tnist Limitcd for the purposes of company law) are re5poiisible foi. prcpai-ing tlie Tiustees, aiiiiual rcporl ai)d tlie fiiiancial ,slalements in accurdanLe with appliLabl¢ law and i-egiilatioiis. Company law requircs Ihc tn]stees lo pi'eparc finaiicial statement5 foi- each financial ycaT. Under that law th¢ Iwst¢es Iiave clectcd to pi'epai'e Ilie finanGial slateinciits in accordaiice with Ulted Kin8doin Generally Accepted Accounting Practicc (Unilcd Kingdom Accounting S13ndards and appliLable law). Under cojnpany law the trustees must noi approve the financial stateiiieiits unle8S tliey ar¢ satisfied thdt they give a tiue atid fail. VAew of Ilie stale of affaiiB of the chiirity and Ili¢ incon)e ai)d expenditw. of the charity for that p¢riod.
Page 5 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Trustees, annual report (¢onllnued) Year ended 31 December 2023 In i)rcpariiig tlie.qe finunLiiil ,qlateinenls, the Irustees ai'L I'cquii'cd t().. selcLI suit&blL clLuoiiiiliiig puliLiL5 aiid Ilicn Jpply tliein L()11.si8leiiily- obsctvc Ihc nietliods uiid pi'inLipILs in the Cli411'ilibs SORP. m&l(e judgcin¢nts an(1 aLeuiinling cstimatLS tliat al'b reiiSvniiblc and pi'udenl; dnd pi'cpui'e the fiiiancial slatcnirnts oil Ilic going conc¢rii basis uiile.%s it 18 inappi'opriate lo prLsumc that Ihc cliui'ity will LontiniLC in opeiylion. The Iruslees arc I'cspon.8ible foi- kccpiiig adeqiiaic aLLOUllting i'ecords Ilial are siifficiciil lo sliow and explain Ilie chai'ity's li-ansacliuns and disclosc willi rea.sonal)IL Itcclli'acy al aiiy timc Ihe fii)aiicial P0511ion of the charity arid er]ablL Iliem to eiisui'e that Ihc fiiiaiiLial .sl¢ilLmciits comply with tlie C.onipdnics A¢t 2006. Thcy iiiL' also rLspullsible lor Sdfcgiiarding thL £lSscls ul tho chill-ity uiid hLiice foi. t?( kiiiLJ IIEisoiiablty stLps for the prLvciitiOll 4iiid dcteclioii of fi'au<l aiid oiliei. ii'i'cg411ai'ili&s. EÉich of Ilie per.sons who 1.8 a Iru.8lee al Ilic dalc of api)i-oval of tlii.s I'¢porl Lonfii'ins thal= s(Tr fai. as caLh irustee is awarL, Ihcrc is no relevant audit inf017lliltion u1- whiLlI Ihc Lharily's (iuclilor is iinawarc. (ind C(ILh Irustce has talccn all stLP% Ih<lt they ought lo liavc taken 115 il tl"Ilbtce l() makL" Ilicmsolvc.s ilWUI'e of any relLvanl iqiidil ITiformali()n and lo estahlish Iliat the chxi'iLy's audilor is awarL i)t Ihat infoimialion. Auditor TIIL duditors. BDO Nvrtherii Ii'Lland h<iVC cxpfLsscd thcir williiiLsnLSS lu LuiitiiiuL in offiLL diid a I'c8olulic)n to rc-appoiiit Ilicin will bc i)i-(Ipo%ed dt the aniiual genei'al Incctiiig. Sniall con]p#ny exetnptions I'lii% rcpoi'l lias bcLli pfcp£ircd in accordaiicc wilh Ilic provisioiis ¢ippli¢able to companies entitled lo IhL %mdll compaiiies cxcmpti()ii. ReLiisIci'LcI orriL¢'. 9 Flig,litown Av6nue B¢illywoiidi'd Ncwtowniibbcy Co Anlrii BT36 4RI' Signcd on behalf of tlie Iiustees Mr J R Fl Agncw Charily I'ruslc 26 July 2024