The Follies Trust
Financial Statements
Year Ended 318t October 2025
Charity registration numter.. NIC101116
Company regstration ntjmber: N1060272

The Follies Trust
Flnanclal Statements
Y￿r 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 westmo￿land Street
Dublin
Pago 1

The Follles T￿￿t
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￿ Acl1vit￿8
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 d1￿ctOrS 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 a￿rdance y￿th sectKJn 476.
The directois aCkn￿edge 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 ac￿rdanCe 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 p￿sented in ster￿.ng which
15 the fvftCt￿naI 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 ¢l*ritable 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 Obl￿atiOn 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 acti￿tieS.
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 co￿oration 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 aUthor￿ing 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 ￿n￿rtaInty 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
Restora￿On 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
AccO￿￿ncY 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