**CHARITY REGISTRATION NUMBER NIC101281** ## **Grangemore Securities** ## **ACCOUNTS** ## **31 MARCH 2023** ## **GM[c] G PORTADOWN** Chartered Accountants 17 Mandeville Street Portadown Craigavon Co Armagh BT62 3PB ## **Grangemore Securities** ## **ACCOUNTS** ## **Year ended 31 March 2023** |**CONTENTS**|**PAGES**| |---|---| |General Information|**1**| |Trustees’ Report|**2 to 4**| |Independent Examiner’s Report|**5 to 6**| |Statement of Receipts and Payments|**7**| |Statement of Assets and Liabilities|**8**| |Notes to the Accounts|**9**| ## **Grangemore Securities** ## **GENERAL INFORMATION** ## **Year ended 31 March 2023** |**Charity Name**|Grangemore Securities| |---|---| |**Contact Address**|14 Riverview| ||Old Gilford Road| ||Portadown| ||Craigavon| ||Co Armagh| ||BT63 5WP| |**Charity Registration Number**|NIC101281| |**Trustees**|Mrs MJ Sleator| ||Miss RJ Sleator| |**Independent Examiner**|GMcG PORTADOWN| ||Chartered Accountants| ||17 Mandeville Street| ||Portadown| ||Craigavon| ||Co Armagh| ||BT62 3PB| |**Bankers**|CAF Bank Ltd| ||25 Kings Hill Avenue| ||Kings Hill| ||West Malling| ||Kent| ||ME19 4JQ| **- 1 -** **Grangemore Securities** ## **TRUSTEES’ REPORT** ## **Year ended 31 March 2023** ## **Trustees’ Annual Report for the year ended 31 March 2023** The Trustees present the Annual Report and Statements of Receipts and Payments and Assets and Liabilities for Grangemore Securities for the year ended 31 March 2023. ## **Structure, Governance and Management** Grangemore Securities is an unincorporated entity and is governed by a Deed of Trust dated 5 December 1977 and a Deed of Variation of Trust dated 12 September 2002. 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 have devolved the management of the charity’s investment portfolio to Canaccord Genuity Wealth Management. The Trustees do not receive remuneration from the charity. ## **Objectives and Activities** The charitable purpose of Grangemore Securities is to promote the development of opportunities for children and young people so that they may reach their full potential, earning capacity, with the consequent improvement in their standard of living and that of the family group. More specifically the objectives of the charity are: The support by contribution, loan, gift, subscription or otherwise of any religious or other charitable institution or work which shall be established or maintained for any of the following purposes:- - i. The furtherance of religious or secular education; - ii. The advancement of the Protestant and Evangelical tenets of the Christian Faith either in the United Kingdom or abroad; - iii. The encouragement of missionary activity designed for the spread of such Christian Faith; - iv. The relief of the poor and needy; and - v. The help and comfort of the sick and aged. Generally the advancement of any religious or other charitable object not inconsistent with the foregoing which may from time to time commend itself to the Trustees. **- 2 -** **Grangemore Securities** ## **TRUSTEES’ REPORT** _**(continued)**_ ## **Year ended 31 March 2023** ## **Achievements and performance** During the year to 31 March 2023 Grangemore Securities continued to accrue income on its investments. The charity returned a surplus in the year of £428 net of donations made of £40,370. ## **Charities Commissioner of Northern Ireland - Statement of Compliance** Grangemore Securities has given careful consideration to the Charity Commission for Northern Ireland’s guidance on public benefit to ensure that the activities entered into help to achieve the charity’s objectives and activities, as well as providing public benefit. The benefit is defined as: _‘Development of opportunities for children and young people to reach their full potential, earning capacity, with the consequent improvement in their standard of living and that of the family group. Extension of the doctrines and beliefs of the Christian Faith leading to moral improvement in society and the health and well-being of individuals. Provision of general medical facilities, including those for hearing impairment, for the care of patients and the control of disease and infections. Provision of clean water supplies and hygiene facilities, will prevent spread of diseases improving the health and well-being of communities, and the standard of life of individuals. Sponsored children will be given daily sustenance, education and care in a safe environment. Reduction in alcohol abuse will improve the health of the individual contributing to the well-being of family life and the protection of the community. Provision of family holidays, relieve tensions and provide short respite periods for the bonding of the family group. Working animal care will lead to an appreciation of the benefits of healthy animals and the consequent improvement in day to day working productivity. Provision of rescue services at sea and coast will save lives.’_ ## **Financial Review** The principal source of income, excluding capital inflows, in the year was investment income. The accounts show an excess of payments over receipts of £428 for the year. The Trustees’ policy on holding reserves is to retain sufficient funds to meet on-going costs which have been incurred but which have not yet been paid. **- 3 -** Grangemore Securities TRUSTEES, REPORT (continued) Year ended 31 March 2023 Statement of Trustees, Responsibilities The Trustees are responsible for preparing the Trustees. Report, the Statement of Receipts 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. Signed on behalf of the Trustees Miss RJ Sleator Trustee Date.. )Iili* Grangemore Securities INDEPENDENT EXAMINER'S REPORT CHARTERED ACCOUNTANTS Year ended 31 March 2023 Independent examiner's report to the charity trustees of Grangemore Securities I report on the accounts of Grangemore Securities for the year ended 31 March 2023, which are set out on pages 7 to 9. Respective responsibilities of charity trustees and examiner As the charity's Trustees you are responsible forthe 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 state whether particular matters have come to our attention. Basis of independent examIne￿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 Northern 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. My role is to state whether any material matters have come to our attention giving us cause to believe- That accounting records were not kept in accordance 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. X7 Mandeville Street PORTADOWN cr￿saW0n BT02 3PB Alfred Ho 19.41fred Street BEISAsr wr2 8EQ DX3910 NR Belfast 50 Centll￿ House 40 Cr&scent Business Park LISBL.RN r28 2GN Tel: +44 (0)28 3833 2801 Fax:+44 (0)28 3835 0293 Tel.- +44 (0)28 9031 1113 Fax: +4410)28 9031 0 Tel.. +H (0)28 9260 7355 Fax: +44 {0)28 9260 1656 Reg￿tered t¥roThiurtauthtworkbythe Institiite*t(J¥rternJAcCu￿tsDtsInl Grangemore Securities INDEPENDENT EXAMINER'S REPORT Year ended 31 March 2023 (continued) Independent examiner's statement I have completed our examination and have no concerns in respect of the matters 1 to 4 listed above, and in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. ILLIAN JOHNSTON GMCG PORTADOWN Chartered Accountants 17 Mandeville Street Portadown Craigavon Co Armagh BT62 3PB Date. aol* **Grangemore Securities** ## **STATEMENT OF RECEIPTS AND PAYMENTS** ## **Year ended 31 March 2023** |**Restricted**
**Unrestricted**
**Funds**
**Funds**
**£**
**£**
**RECEIPTS**
Investment income
-
15,505
Interest on deposits
-
947
**Gross income**
-
16,452
**ASSETS AND INVESTMENT SALES**
Sale of investments
-
56,204
**TOTAL RECEIPTS**
-
72,656
**PAYMENTS**
Grants and donations
-
(40,370)
Investment management fees
-
(6,177)
Legal and professional fees
-
(834)
Bank charges
-
(89)
-
(47,470)
**ASSETS AND INVESTMENT**
**PURCHASES**
Purchase of investments
-
(25,614)
**TOTAL PAYMENTS**
-
(73,084)
**EXCESS OF PAYMENTS OVER**
**RECEIPTS FOR THE YEAR**
-
(428)
**Cash funds at 1 April 2022**
100
434,802
**Cash funds at 31 March 2023**
100
434,374|**Total**
**2023**
**£**
15,505
947
16,452
56,204
72,656
(40,370)
(6,177)
(834)
(89)
(47,470)
(25,614)
(73,084)
(428)
434,902
434,474|**Total**
**2022**
**£**
14,337
837
15,174
21,875
37,049
(3,000)
(6,508)
(834)
(101)
(10,443)
(5,055)
(15,498)
21,551
413,351
434,902| |---|---|---| **- 7 -** Grangemore Securities STATEMENT OF ASSETS AND LIABILITIES As at 31 March 2023 Restricted Unrestricted Funds Funds Total 2023 Total 2022 CASH FUNDS Current accounts Deposit accounts 76,295 358 079 76,295 77,393 358 179 357 509 100 TOTAL CASH FUNDS 100 434 374 434 474 434 902 INVESTMENT ASSETS Equities/AlternativeslFixed I nterest 370 226 370 226 419 727 TOTAL INVESTMENT ASSETS 370 226 370 226 419 727 TOTAL ASSETS 804 700 Signed on behalf of the Trustees Miss RJ Sleator Trustee Date.. So **Grangemore Securities** ## **NOTES TO THE ACCOUNTS** ## **Year ended 31 March 2023** ## **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. Investments represent a portfolio encompassing equities, debt and fixed interest instruments and alternative investments managed by the charity’s investment managers. Investments are initially recorded at cost and are subsequently stated at fair value at the year end date. 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. ## **(c) Going Concern** The accounts have been prepared on a going concern basis. ## **2. DEPOSIT ACCOUNT** The charity holds an investment of £34,847 which was due to be repaid to them during 2021. However, the investee company is now in liquidation and this amount is not expected to be recoverable. The Trustees have therefore not included this balance in the Statement of Assets and Liabilities. ## **3. TRANSACTIONS WITH TRUSTEES** The Trustees did not receive either remuneration or the reimbursement of expenses in the year. ## **4. FUNDS** Unrestricted Funds – these funds are used at the discretion of the Trustees in fulfilling the objects of the charity. Restricted Fund – this fund represents a Will Trust. **- 9 -**