CHARTERED ACCOUNTANTS
THE CREGAN TRUST
ACCOUNTS
31 AUGUST 2024
BELFA
LISBURN
PORTADOWN
Alfred House
19 Alfred St
Belfast
BT2 8EQ
T: 028 90311113
Century House
40 Crescent Business Park
Lisburn
BT28 2GN
T: 028 9260 7355
17 Mandeville St
Portadown
Co Armagh
BT62 3PB
T: 028 3833 2801
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**CHARITY REGISTRATION NUMBER NIC101163**
## **THE CREGAN TRUST ACCOUNTS**
**31 AUGUST 2024**
## **GM[c] G PORTADOWN**
Chartered Accountants 17 Mandeville Street Portadown Craigavon Co Armagh BT62 3PB
**THE CREGAN TRUST**
## **ACCOUNTS**
## **YEAR ENDED 31 AUGUST 2024**
|**CONTENTS**|**PAGE**|
|---|---|
|General Information|1|
|Trustees’ Report|2 - 3|
|Independent Examiner’s Report|4 - 5|
|Statement of Receipts and Payments|6|
|Statement of Assets and Liabilities|7|
|Notes to the Accounts|8|
**THE CREGAN TRUST**
## **ACCOUNTS**
## **YEAR ENDED 31 AUGUST 2024**
|**Charity Name**|The Cregan Trust|
|---|---|
|**Contact Address**|North House|
||84 North Road|
||Belfast|
||Co Antrim|
||BT4 3DJ|
|**Charity Registration Number**|NIC101163|
|**Trustees**|Mrs GE Cregan|
||Mr SD Patterson|
|**Independent Examiner**|GMcG PORTADOWN|
||Chartered Accountants|
||17 Mandeville Street|
||Portadown|
||Craigavon|
||Co Armagh|
||BT62 3PB|
|**Bankers**|Cater Allen|
||9 Nelson Street|
||Bradford|
||BD1 5AN|
**- 1 -**
**THE CREGAN TRUST**
## **THE TRUSTEES’ REPORT**
## **YEAR ENDED 31 AUGUST 2024**
## **Trustees’ Annual Report for the year ended 31 August 2024**
The trustees present the Annual Report and Statements of Receipts and Payments and Assets and Liabilities for The Cregan Trust for the year ended 31 August 2024.
## **Structure, Governance and Management**
The Cregan Trust is an unincorporated entity and is governed by a Deed of Trust dated 10 August 1993.
The trustees who served during the year and up to the date of signing the financial statements were:
Mrs GE Cregan Mr SD Patterson
Trustees are appointed for an indefinite term and serve until they no longer wish to, at which point they may resign.
The day to day running of the charity is undertaken by the trustees. The trustees do not receive remuneration from the charity.
## **Objectives and Activities**
The charitable purpose of The Cregan Trust is to enable local churches to carry out missionary work in the local community and abroad, the purchase of religious material to help educate local children, to aid in the training and education of new ministers/lay people, and to support sick and retired members of the clergy.
## **Achievements and Performance**
During the year to 31 August 2024 The Cregan Trust made donations totalling £6,200. This included 6 larger donations (those of £100 and over), 4 of these being £1,000 or more.
## **Charities Commissioner of Northern Ireland - Statement of Compliance**
The Cregan Trust has given careful consideration to the Charity Commission for Northern Ireland’s guidance on public benefit to ensure that the activities entered into during the year have helped to achieve the charity’s objectives, as well as providing public benefit.
The benefit is defined as:
“Enabling local churches to carry out missionary work in the local community and abroad, the purchase of religious material to help educate local children, to aid the training and education of new ministries/lay people, and to support sick and retired members of the clergy.”
**- 2 -**
THE CREGAN TRUST
THE TRUSTEES, REPORT {contin¢pdJ
YEAR ENDED 31 AUGUST 2024
Flnanclal Review
The accounts show a deficit of £6,770 (2023 - £35.500 surplus) for the year, all of which
related to unrestricted funds.
At the year end, unrestricted reserves amounted to £93,768 (2023 - £100,538) of which all is
held at bank The trustees have not set a minimum level of reserve5 to be maintained by the
charity due to the nature of the charity's activities and minimal day to day running costs.
Golng Concerr,
The trustees have reviewed the position of the charity and are of the opinion that the char:.. .
will continue in its activities and the account5 should be prepared on a going concern basis.
Statement of Trustees. Responsibilities
The trustees are responsible for preparing the Trustees, Report. the Statement of ReIpts
and Payments and the Statement of Assets and Liabilities in accordance with applicable law
and regulations.
The law applicable to those charities in Northern Ireland with income of less than £250.000
requires the trustees to prepare a Statement of Receipts and Payments and a Statement of
Assets and Liabilities for each financial year.
The trustees are responsible for keeping accounting records that are sufficient to show and
explain the charity's transactions and disclose with reasonable accuracy at any time the
assets and liabilities of the charity. They are also responsible for safeguarding the assets of
the charity and hence taking reasonable steps for the prevention and detection of fraud and
other irregularities.
Principal 3ddreso:
North rious-
84 North Road
Belfast
Co Antrim
BT4 3DJ
Charity Regislration No: NIC101163
Signed on behalf of the trustees
Mrs GE Cregan
Trustee
Date .
THE CREGAN TRUST
CHARTERED ACCOUNTANTS
INDEPENDENT EXAMINER'S REPORT
YEAR ENDED 31 AUGUST 2024
Independent examiner's report to the charity trustees of The Cregan Trust
I report on the accounts of The Cregan Trust for the year ended 31 August 2024, which are
set out on pages 6 to 8.
Respective responsibilities of charity trustees and examiner
As the charity's trustees you are responsible for the preparation of the accounts in
accordance with the Charities Act (Northern Ireland) 2008.
It is my responsibility to=
examine the accounts under section 65 of the Charities Act;
follow the procedures laid down in the general Directions given by the Commission
under section 65(9){b) of the Charities Act; and
state whether particular matters have come to my attention.
Basis of independent examiner's report
I have examined your charity accounts as required under section 65 of the Charities Act and
my examination was carried out in accordance with the general Directions given by the
Charity Commission for Northem Ireland under section 65(9)(b) of the Charities Act.
My examination included a review of the accounting records kept by the charity and a
comparison of the accounts presented with those records. It also included consideration of
any unusual items or disclosures in the accounts and seeking explanations from you as
charity trustees concerning any such matters.
17 Mandeville Street
PORTADOWN
Alfred House
19,4Jfird Slreet
BELFAsr wr2 8EQ
DX3910 NTR Belfast 50
CentuTr House
40 Crescent Business Park
IISBDRN
BT28 2GN
CrgaV0
BT62 3PB
Tel: +44 (0)28 3833 2801
Fax:+44 {0}28 3835 0293
Tel.- +44 (0)28 9031 1113
F&Y.' +44 (0128 9031 OTn
Tel: +44 {0128 9260 7355
Fax: +44 {0128 9260 16-6
THE CREGAN TRUST
INDEPENDENT EXAMINER'S REPORT (continued)
YEAR ENDED 31 AUGUST 2024
My role is to state whether any material matters have come to my attention giving me cause
to believe-
That accounting records were not kept in accordan with section 63 of the Charities
Act
That the accounts do not accord with those accounting records
That the accounts do not comply with the accounting requirements of the Charities Act
That there is further information needed for a proper understanding of the accounts to
be reached.
Independent examiner's statement
I have completed my examination and have no concems in respect of the matters 1 to 4
listed above, and in connection with following the Directions of the Chartty Commission for
Northern Ireland, I have found no matters that require drawing to your attention.
Gillian Johnston ACA
GM'G PORTADOVVN
Chartered Accountants
17 Mandeville Street
Portadown
Craigavon
Co Armagh
BT62 3PB
Date: Il J ¥JaS 202S
**THE CREGAN TRUST**
## **STATEMENT OF RECEIPTS AND PAYMENTS**
## **YEAR ENDED 31 AUGUST 2024**
|**Unrestricted**
**funds**
**2024**
**£**
**RECEIPTS**
-
**PAYMENTS**
Grants and donations
(6,200)
Accountancy
(570)
**TOTAL PAYMENTS**
(6,770)
**EXCESS OF RECEIPTS OVER**
**PAYMENTS**
(6,770)
**Cash funds at 1 September 2023**
100,538
**Cash funds at 31 August 2024**
93,768|Unrestricted
**Total**
funds
**2024**
2023
**£**
£
-
40,000
(6,200)
(4,500)
(570)
-
(6,770)
(4,500)
(6,770)
35,500
100,538
65,038
93,768
100,538|Total
2023
£
40,000
(4,500)
-
(4,500)
35,500
65,038
100,538|
|---|---|---|
**- 6 -**
THE CREGAN TRUST
STATEMENT OF ASSETS AND LIABILITIES
YEAR ENDED 31 AUGUST 2024
Unrestricted
funds
2024
Unrestricted
funds
2023
Total
2024
Tota
2023
CASH FUNDS
Bank current accounts
100 538
100 538
TOTAL CASH FUNDS
100 538
100 538
TOTAL ASSETS
Signed by the trustees:
Ivlrs GE Cregan
Trustee
Mr SD Patterson
Trustee
Date:
**THE CREGAN TRUST**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31 AUGUST 2024**
## **1. ACCOUNTING POLICIES**
Set out below are the principal accounting policies which have been adopted in the compilation of the Statement of Receipts and Payments and the Statement of Assets and Liabilities.
## (a) Receipts and payments
All items of income and expenditure included within the Statement of Receipts and Payments have been accounted for on a cash basis.
## (b) Assets and liabilities
Cash and deposit balances are stated at their monetary amount.
Liabilities are included where there is a constructive or legal obligation falling upon the charity that requires a future economic outflow. However, no account is taken of amounts due in respect of the recurring expenses of the charity as these are recognised in the Statement of Receipts and Payments when paid.
## **2. TRANSACTIONS WITH TRUSTEES**
The trustees did not receive either remuneration or the reimbursement of expenses in the year. There were no disclosable trustee transactions in the year. In the prior year a donation of £40,000 was received from Mrs GE Gregan, a trustee.
## **3. FUNDS**
Unrestricted funds - this fund is used at the discretion of the trustees in fulfilling the objects of the charity.
**- 8 -**