The Follies Trust Financial Statements Year Ended 318t October 2025 Charity registration numter.. NIC101116 Company regstration ntjmber: N1060272
The Follies Trust Flnanclal Statements Yr Ended 31•1 O¢tober 2025 Gontents Charity Relerence Administrative Details Trustees, Annual Report Iln¢lLhding Directors. Re) In*pendent Examiner's ReKX)rt Statement of Financlal Activrbes IlnGluding lrtome and Expenditure Accounl) Statemenl of Financial Positi Notes to the Financial Statements Detai Income Statement 9-11 12
The Folllu Trust Financial Slatements Year Ended 31" October 2025 Charity Mgigtratlon number NIC101116 Cornpany rogistytlon numbgr NIC60272 Tntsteos Primrose Eileen Wilson C8E Dr Finbar McCom)ick Edward Brice Wilson CBE Thomas Wlfilliam Atkinson Iresigne(l Dec 2024) Dr Evelyn Mullalty Hilary Hesllp CamilLg McAlee$g Timothy Brian Rankin Dr Robert Logan Bernadette Solon R•gistsr•d ¢)ffice Marcus Ward Street Belfast BT71RP Accountant WHR Accourttants Ltd 26 The Square Moy Co Tyrone 8T717SG Bankers First Trust Bank 4 Market Street Lurgan Craigav¢n All Irish Banks 40141 westmoland Street Dublin Pago 1
The Follles Tt statement of Flnanclal Acllvltles Year Ended 319t October 2025 Unrestricted Funds Restricted Funds Total 2025 Total 2024 Voluntary Receipts Donations and Gllt Aid Grants Friends of Follie5 Trust EducatK•nal Aetivitses Investment Income From charitab Adivities B(KJk and Cafd Sales 17,704 17.704 22.250 27,838 39,720 806 5,tOl 1.872 22,250 1,046 4.151 2,013 4,151 2,013 1.097 1.097 298 26,011 22.250 48.261 75,635 Cost of Fundraising Cost of Educatsonal A¢lwrties Cost of charitsb Acl1vit8 Govemanee Costs 2.842 38,297 994 2,842 60,547 4,502 43,514 1,107 22,250 Total payments 42,133 64,383 49.123 gt in¢omel(•xp8nditurel Transfers bllfroml funds DBfi¢lt for tho year (16.1221 116.1221 26.512 Pag• 8
The Follies TnBt Statement of Financlal Position Year Ended 314t October 2026 2025 2024 Curronta¥sets Stocks Cash at bank and in hand 4.410 59.149 4,900 90,480 Totsl currènt assots 63.559 Creditorn: amounts falllng du• wlthlrt one year 12,957) (18,6561 Net cunent assets 60.602 76.724 Totsl assets less current liabilities 60.602 76.724 Not assets 60.602 76,724 Charfty Funds Unrestncted funds Resthcted fund$ 60,602 76,724 Total Charlty funds 60,602 76,724 The d1ctOrS are satisfied that the company is entkled to exemption from audit under section 477 of the Companies Act 2006 and Ihat members have not requir8d an audit in ardance yth sectKJn 476. The directois aCknedge their responsibiltties for complying wtth the requirements of Companies Act 2006 with respect to accounting records and preparation of financial statements. The financial ststements have been prepared in acrdanCe wf£h the speaal provision in Part 15 of the Companies Act 2006 to ¢xmp3nies subiectto the small ¢ompanie$ regime. The fnancial ststements were apFwved and authorised for isgue by Ihe Board on 25th FebFuary 2026. Signed on behalf of the board of trustees. Prlmrose Eileen Wllson CBE The notes on pages 9 to 12 fom part ofthese fnancial ststeTnent$. Company registration nunber. N1060272 Page 9
The Follles Trust Noles to the Financial Statements Year Ended 314t October 2025 Summary of siwificant accounting policies lal General inforniatlon and basis of preparation The Folles Trust is a company limited by guaranteè in Northern Ireknd. In the event of the charity being wound up, the liabilty in fe$pect of the guarantee is limited to £1 per member of the Charity- The adthess of the registered office is given in the charty infomiation of these financial statements. The chanty constitutes a public benefft entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Prathe applicable to charitres preparing their a¢coLtnts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} issued on 16th Juty 2014 las updated through Update Bulletin 1 publhshed on 2ré February 2016). the Financial Reporh"ng Standard applicable in the United Kingdom and Repjbtic of I[elar IFRS 1021. the Charities Act 200B. the Companies Acl 2006 and UK Generally AcceNed Accounling Practice as it applies from 1st January 2015. The charity has applied Update Bulletin l as publi8hed on 2thJ February 2016 and does not include cash flow statement on the ground8 Ihat it is applyin9 FRS 102 Section 1A. The finanGtal stalements are prepared on a going concem basis under the historical c08t convenllon, modified to include certain items at fair value. The financial statements are psented in ster.ng which 15 the fvftCtnaI cJJrrerw of the charity and rounded to the nearest L The Jignificant accounltyig policies applied in the preparation of these financial stslements are set DUI below. These pollcies have been consislenlty applied to all years presented unless otheThbise Stated. Ib) Funds In the Statement of Financlal ktivitie8, funds are classtfEd as either reslrithd funds or unrestricted funds", defined #s follows.. Unrestricted fthds ¢an be used in accordance wilh the ¢lritable obj'ectives at the discrelK)n of the trustees. Restricted funds can only be u3e(J for particLElar reslri¢ted purposes Mthin the oLryects of the chanty. RestrictKJns arise when specTfied by Ihe donor or when funds are raised for particular reslrtcted purposes. Ic) In¢omo rocognltlon Income is reccgnised vknen the charitable company has entitsment to the funds, any perfomiance conditions attached lo the itemls) of income have been mel, fi is probable th* the income will be re¢eived. and the amount can b8 measured reliably. Pa 10
The Follles Tntst Notes to the Flnancial Statements Year Ended 31" October 2026 (dl Expendituro rgcognition l expenditure is accounted for on an accruals basis and has been classffied under headings that aggregatè all costs related to the category. Expendrture is recognised where there is 4 legal or construclNe OblatiOn to make paymen15 to Ihird parties, it is probablè that the settlement w(11 be required and the amount of the obligation can be measured relwbly. It is categorised under the folbwing headings.. Expenditure on Charitab aciivities includes p¥oduction expenditure.. and Olher expendthjre represents those items not falling into the Category above. lel Support costs allo¢atlon Support costs are those that assBt Ihe work of the chanty bLrt do not dkeclly repre8enl charftsble actwilies and include office costs and premise$ costs. They are incurred direclly in support of expon¢*ture on tha objects ofthe eharty. Fund-raising costs are those incufred in seeking voluntary contributions and do ncl Include the costs of disseminating infomation in support of the charitable actitieS. The analysis of these costs is included in note Z (n Dobtors and credltors rncoivabl• I payable %•lthin one year Debtors and creditor$ witti no stated interest rate and recelvable or payable within one year are Corded at Ir8nsa¢tion price. Any losses arislng from impaiment are recognised in expendilure. (g) Taxadon The Charity is an exempl charity within the meaning of hedUle 3 of the Charities 2011 and 1$ considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore r( meets the definition of a charitsbk company for UK cooration tax purposes. Ihl Golng concern The financial slalements have been prepared on 8 90ing concem ba$1$ as the biAstees belleve that no material uncertainties exist. The tnJ$lees have ¢onsidereil the level of funds held anLS the expected level of income and expenditure for 12 months from aUthoring these financial slalements. The udgeted income and expenditure ts sufficient wrth the level of reseNes for the charity to be able to conb.nue as a going ¢oncem. 11) Judg8ments and key 50ur¢•s of ostim4tion unc8rtainty The trustees do not feel there any material judgements or key source5 of estimalion nrtaInty in these accounts. Page 11
The Follies Trust Notes to the Flnancial Statsmènts Year Ended 31" October 2026 Anaty$ls of cost of fundrnising Expen$es Support costs Total Cost of Fundraising All costs *re attribulabje to unrestrtted funds. Anaty8i$ of expgnditurn on charilabl? actrlti•s Activities undertaken directty Support costs Total RestoraOn work Bank charges Exchange differences General expenses 61,110 61.110 116 (6791 116 16791 61,110 1583) 60,547 TTU8tees' and kèy man4gem•nt p8rsonn•l rwnunerntion Ind •xpen5es The tNslees neither received nor waived any remuneration during thè year12025: £NII. The trustees did have any expenses reimbursed during the year {2024- £Nil}. Fund reconciliatlon Balance ai Batance at 31st October 2025 Inccffte ExpEndlture November 2024 Unrestricted Restrictecl 76,724 26,011 22,250 42.133 22.250 60,602 76,724 48,261 64,382 60,602 Pago12
The Follies Trust Notes to tho Flnanclal Statsments Year Ended 311t Octobor 2025 2025 20 Income Donations reoived GrfI-A tsx recovered Friend5 of Follies Tw$t EducatKJnal activthe8 Book and card sales Grants receNed Interest receivable 15,172 2,532 1.046 4.151 1,097 22,250 22.047 5.791 BC 5.101 298 39,720 48,261 75,635 Admlnlstrativo •xpons•s Restoration work Edurational acii¥ities Book Publication costs Insurance AccOncY fees Bank charges Exchange differences General expenses 161,110) 11.890) 1952) {414) {580) {116) 679 {41,6861 11,002) {3,500} (582} {525} (120} {1.4371 271 (49,1231 (64.383) Operating d8ficit {16,122) 26.512 D•fi¢it for yoar (16.122) 26,512 Pago 13