OPEN HOUSE TRUST LIMITED REGISTERED NUMBER: N1031773 REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2022 The trustees who are also directors of the charity for the pUoseS of the Companies Act 2006, present their report with the financtal statemenls of ihe charity for the year ended 31 December 2022. The trustee5 have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objcctives and airns The principal objectives of Open House Trust Limited as set out in its Articles of Association are "for the advancement of the Christian Religion and the advancement of education and medical l(nowledge and research" In particular the Trust was set up to make monetary gifts to Missionaries, Evangelists, Christian organisations and others engaged in any way in the propagation of the Gospel of the Lord Jesus Christ. - make monetary gifts in furtherance of the objects of the Trust. The Trustees seek to ensure that the Public benefit requirement is considered and Open House Trust Limited facilitates the advancement of the Christian Religion in Ireland and elsewhere and having due regard to the Charity Commission guidance on public benefit. ACHIEVEMENT AND PERFORMANCE The Trustees meet quarterly during the year and at each meeting decide on the amount of grdnts to be made to missionary organisations and individuals. In the year ended 31 December 2022 a total of £175.520 (2021.. £154,085) was distributed to rnissionary organisations with the largest being gifted to STAUROS and this amounted to £42,000, (2021- £39,300) FINANCIAL REVIEW Financial position The results for the year ended 31 December 2022 are set out on pages 4 and 5 of the financial statements. The total income for the year for the year ended 31 December 2022 amounted to £257,911 (2021 £249,782). The tnajority of the incorne in both years was rent received which amounts to £235,884 in 2022 (2021 £222,179). The main expenditure on Charitable Activities relates to the grants distributed which amounted to £175,520 in the year ended 31 December 2022 (2021 £154,085. The Charity's cash at bank decreased from £454,633 at 31 December 2021 to £177,706 at 31 December 2022 as the result of purchasing another propety. Going concern After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparino the financial statements. Further details regarding the adoption of the going concern can be found in the Accounting Policies. STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is controlled by its goveming document. a Memorandum and Articles of Association, and constitutes a lirnited company, limited by guarantee, as defined by the Companies Act 2006. The compaThy was incorporated on 17 December 1996 and registered with the Charity Commission for Northern Ireland on 10 April 2015. Trustees The management and administration of the charity is the responsibility of the Trustees. All of the Trustees have served during the financial year ended 31 December 2022 and up to the date of appointment of the the financial statements. In accordance with the Articles of Association B Jones and J Johnston will retire at the forthcomino Annual General Meeting and will be eligible for re - election. Page I
OPEN HOUSE TRUST LIMITED REGISTERED NUMBER: N1031773 REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2022 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number N1031773 (Northern Ireland) Registered Charity number 101352 Registered ole¢ 6 East Bridge Street Enniskillen Fernianagh BT74 7BT Trustees T Eakins B Jones F Charters S Williamson J Johnston P Hewiit Company Secretary J Johnston Independent Examiner Thomas Samuel Patton FCA Patton RaiThey and Associates Chartered Accountants 6 East Bridge Street Enniskillen Co. Fennanagh BT74 7BT Bankers Danske Bank 24 Townhall Street Enniskillen Co. Fermanagh BT74 7BB Page 2
OPEN HOUSE TRUST LIMITED REGISTERED NUMBER: N1031773 REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2022 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements In accordance with applicable law and regulations. Law applicable to charities in Northern Ireland requires the twstees to Prepare financial statements for each financial year which give a true and fair view of charity and of the income and expenditure application of resources of the charity for that year. In preparing these financial statements the trustees are required to.. select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP (updated January 2015)" make judgements and accounting estimates that are reasonable and prudent" state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operdtion. The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities(Accounts & Reports) Regulations (Northern Ireland) 2015. They are also responsible for safeouarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other Iegular1t1es. Approved by order of the b rdof stees on 24 April 2023 and signed on its behalf by= J Johnston - Trustee Page 3