The Meeley Family Forelgn Misslons Benevolent and Educational Trust Statement of fmancial actlvities For the year ended 30 June 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 Note Income from: Investments 2,328 2?28 9,368 Total Income 2,328 2,328 9,368 expenditure on: Cliarilable actiiiities: Direct costs Governance costs 453 453 6,590 4,373 5.530 5,530 Total expenditure 5.983 5.983 10.963 Net expenditure before net gainslllosses) on investments (3,655) 3.181 (3,655) 3,181 (1,595) (11.492) Net gain5/0 ) on investhients 05ses N•t Movèrnent in funds (474) (474) (13,087) R•conciliation of funds: TotAI Eunds biought f0ThVfa Net moiFcmcnt in tunds 154,088 (474) 154,088 (474) 167,175 (13.087) Total funds carried fonNard 153,614 153,614 154,088 All amounts relate to continuing operations. Tlie Statement of finAnctal activities indudes all gains 2nd losse5 recogni5ed in the year. The notes on pages 9 to 15 form part of these financial statements. Paje 7
The Meeley Family Foreign Missions Benevolent and Educational Trust Balance sheet For the year ended 30 June 2023 2023 2022 Note Fixed assets Investments 151,417 150,798 Cxsli at bank And in h2nd 4,597 3,890 4,597 3,890 Creditors: amounts falling due ivithin one year (2,400) (600) Net current assets 2,197 3,290 Total net assets 153,614 154,088 Charity funds Restricted fund5 io 153,614 154,088 Total funds 153,614 154.088 Tlie financial stAtcmcnts have been prepared in accoIdAnce ividi die provisAons of FRS 102 IA - smxll cntitic5. Tlie financial statement5 Ivcrc Approved and autiiotised for issue by die Trustee on 29 Apxtl 2024 and signed on tlieir bc1114 IE b)". Cleaver Fiilton (riustee) Ankin Triistces Limited Tlie notes on pages 9 to 15 form part OE these financial ststcments. P8ge 8
The Meeley Family Foreign Misslons Benevolent and Educational Trust Notes to the financial statements For the year ended 30 June 2023 General Information Tlie fvleeley Famil), Foreign fvlissAons Benevolent 2nd EducationAI Tst is an unincoIpoiAted trust. Its principal office is 50 Bedford Street, Belfast, BT2 7NV, and it lias a di*rity registsation number of 101438. Accountlng poIiGies 2.1 Basis of preparation of financial statements The financial statements are prepared on a going concern basis, under die histoiicAI cost convention unless otheThvisc noted in the accounting poliues beloiv. They 112ve been prepared in accordance ividi applicable laiv and accouniing standards issued b}, die Financial Reporting Council, including f4RS102 "Tlie FinAncial Reporting Standard Applicable in die UK 2nd Republic of Ireland" C'FRS102'), And tlie Statement OF Recommended l)ractice _ Accounting and Reporting by ChArities, eEfective l JAnuaK3, 2019 ("SORP'). Tlie financial statements are prepared in steiiing (O. The ICe1cY Family Forcign Mission5 Benevoknt 2nd Education31 Twst constitutes a public benefit enttty as defined by fRS 102. 2.2 Going concern After making Appropriatc enquiries. the trustees h21re a reasonable expectation tl)at tlie Tmst l)as dequate resources to continue Jn operational existence foi tlic for5evAble future. For this reason tliei, continue to adopt the going concern basis in preparing the financi21 statements. Furthcr detxiis regarding tlie adoption OE the going concern basis can be Found in tlie Accounting Policices. 2.3 Income All income 15 tecognised once the Twst lias entideinent to thc Ancoinc, it is ptobable diat tlie income viu be received and tlie n0t of income rcccivablc can be measured ieliabl),. Investment income is included ivlien ieceivabk. 2.4 Expendittite ExpendituIe is recognised once d)ere is a leg81 oi constructive oblgation to transler economtc benefit to a third partyi it is probAblc th%Lt a transler of economic benefits ivill be required in settlement and thc amount of dic ObltiOn can be mvAsured reliabl),. Expenditure ts dassificd by activity. Tlie costs of eacli activity 2re made up of die total of direct costs smd sliared costs. including support costs inirolved in undertaking each Activity. Direct costs attributable to a single activity are allocated direcd), to that Activity. Shared costs Trvhicli contributc to more than one acuvAry and support costs ivliich are not ttributable to IE singlc activit5r are apportioned behveen those activities on A basis consistcAt ivitli tlie use OE resowces. Centrnl stAff costs 2re allOcted on die basi5 of time spent. and depreciation cliarges llocated OA die poition of die asset's use. GoiTernance costs include those costs associated ivith meeting the constitutional and StatOry requirements of the trust. All expcndAture is inclusiire of Arrecoverable VAT. Pe9
The Meeley Famlly Foreign Missions Benevolent and Educational Trust Notes to the ffftancial statements For the year ended 30 June 2023 Accountlllg policies (continued) 2.5 Investments Fixed asset iniTestmcnts [e A foIm of financial insttument and Are initi2ll)T recognised at thetr tr2ns2ction COSt and subsequendy measuted at fait vAlue at tlie Balance shect date, unless die Ile cannot be measured rciiabl), An ivlucli case it is measured at cost le55 PMeTht. Inirestment gains and losses. vlicther reqlised or unrealised. are combincd And presented as 'GaAns/(Losse5) on inircstmcnts, in tlie Stitement of financiAI Actsvities. 2.6 Cash at bank and in hand CAslI at bAnk 2nd in Iiand includes cash and short-term highly liquid investmcnts ivith A short n]aturity of tliree month5 01 less from d)e d2te of acquisition or opening of die deposit or slmslar 2ccount. 2.7 Liabilities and ptovisions Liabilities are recognised ivhcn tliuc is an obligAtion at tlie Balancc slicet dAte as i result of a pist eirent, it is probablc tliat a trAns£er of econotnic benefit ivill be reqlled iti setdement, and tlie amount of tlie Sctdenient can be estiniated ieLiabl)'. Ltabilities ¢ire recogtkised at the amount diat tlie Trust AnticipatCS It iVAll pa}r to setde die debt oi tl)e 2Lnount it lias reCved as advanced pa}rmcnts for die goods or seivices it must ptovÉde. Piovisions are meAsured at tl)e best estimatc OE tlic amounts iequired to settle tlic obligation. Ivliuc tlie effect ol thc timc value OF mone}F material, thc proiri5ion is based on die present irll lue OE tliose amoiints, discounted at the pre-tax discoiint iate tliat reflects tlie risks specific to tlie liabititi,. Tlic univinding of tlie discoiint As iecogniscd in dic Statement ol fmaAciRI Activitics S q finince cost. 2.8 Flind accoiinting General Eunds are unrestricted funds ivhich re availablc for use at the discretion of tlic TtU5tec in furtlierance ol tl)e gencr%d objcctiiTes of die Trust and ivliicli liave not been designated for otlie purposcs. Restricted funds are ndS ivllich aic to be used In accordance ividi specific restrictions iinposed b}, donors or ivhich have been raised by the Trust for particular PuOses. Tlie costs of riising 2nd administering sucli funds are char8cd qgainst die specific fuad. Tlic aim ld use of eacli Iestrlcted fund is set out AA tlic notc5 to the financi21 statement5. Page 10
The Meeley Famlly Foreign Mlsslons Benevolent and Educational Trust Notes to the financial statements For the year ended 30 June 2023 Critical accounting estimate5 and areas of judgement Estimates and judgements 2re continuall}i eVtea 2nd are b25ed on l)istorical experiencc And odier fxctors. including expectations of future events that are believed to be Ieasonable llAd the circumstAnces. Critical accountin8 estimAtes and Assumptions: Tlie Trust mqkes estim2tes and 2ssumptions conccrning the fi]ture. The resulting accounting estimll tes and stS5umptions ivill. by dcfinition, scldom equal the ielated actual results. The estimates and Assumption5 tliat Iiave g significAnt risk of causing a material 2djustment to the caw'ing arnounts of a5SCt5 and liabilities ivitliin the next tncIal yeAr Are discussed beloiv. Falt valiie of investments Uses various iTaluation techniques to detenlne tl)e fair value of financial Jnstruinents (Iv11e actiiTe mArket quotes are not airali2ble) and non- fin2ncial assets. This involves developAng c5timAtcs and assumptions consistcnt ividi hoiv markct paittcipants Ivold price the insttument. The ttustees bases its assumptions on obseryrable datft as Far as possible but this is not aiFaliable. In that case, Inanagcment uses dje best infoiinAtion Av%diable. Estimated fair iTalues mA}r vary from the Actual prices tli2t ivould be acliieved in arm's lenght transaction at the repoKting date. Investment incomg Restricted funds 2023 Total fiinds 2023 Listed inve5ttnents 2,328 2,328 Total 2023 2,328 2,328 Restricted funds 2022 Total fuThd5 2022 Listed investments 9,365 9,365 Investment Ancome - other Tot212022 9.368 9,368 Pagell
The Meeley Famlly Foreign Mlsslons Benevolent and Educational Trust Notes to the fmancial statements For the year ended 30 June 2023 Analysis of expendlture on charitablo activlties Siiinmary by fiind type Restricted fiirtids TotRI 2023 2023 Disbursements to bcneficiary Invcstment expenses Legal and professional Eees 453 453 1,885 3,645 1,885 3,645 Total 2023 5,983 5,983 Restricted funds 2022 Total 2022 Disbursement5 to bcneficiary InvcstmeTht expenses Legal and professional fees 6.590 2,495 1.878 6.590 2,495 1,878 Total 2022 10.963 10,963 Independent examiner's remuneration 2023 2022 Fees payablc to the Trnsgs independent examincr for the independent cxstmination of the Tmsd5 annual accounts 1,800 600 Resources expended During the year, no Trustees ieceiiFed an)F rcn]uneration (2022 _ £NIL). During tlie }Tear, no Trustces recVed any benefits in kind (2022 - £NIL). During the year, no Tru5tccs rcceived any retmbursement of expeA5C5 (2022- £NIL). As detailed in Note 12, the Tmstees received remunerAtion for servAces rendered to tlic Trn5t in dic current year. Page12
The Meeley Family Foreign Missions Benevolent and Educatlonal Trust Notes to the fmancial statements For the year ended 30 June 2023 Flxed asset investments IASted investtncnts Cost ot valiiAtton At l Jul), 2022 Additions 150,798 84,699 (87,262) 3,181 Disp05als Rcvaluations At 30 June 2023 151,417 Net book valiie At 30 June 2023 151,417 At 30 June 2022 150,798 Creditors: Amounts falling due within one year 2023 2022 Acuusa5 and deferred incomc 2,400 600 Page 13
The Meeley Family Foreign Mlsslons Benevolent and Educational Trust Notes to the ffftancial statements For the year ended 30 June 2023 10. statement of funds statement of funds - current year Balance at I Gains/ Balance at (Losses) 30 Jiiiie 2023 July 2022 lttcome Expcnditiite Restricted fiiiids Restricted Fund5 - all funds 154,088 2J28 (5,983) 3,181 153,614 statement of funds - prior year BAIAnce at Gains/ Balance At (Losses) 30 June 2022 l July 2021 Incoine Expenditurc Restticted fiinds Rcstricted Funds - All [Ld5 167,175 9.368 (10,963) (11.492) 154,088 Page 14
The Meeley Family Foreign Missions Benevolent and Educational Trust Notes to the financial statements For the year ended 30 June 2023 11. Analysls of net assets batween funds Analysis of net assets between funds - current year Restricted fiiiids Total fiiiids 2023 2023 Fixed asset investments 151.417 4.597 (2,400) 151,417 4,597 (2,400) Current assets Crcditors due ivithin one year Total 153,614 153,614 Analysis of net assots bètwèèn funds - prior year Restricted funds 2022 Total Eunds 2022 Fixcd assct invc5tmcnts 150,798 3,890 (600) 150,798 3,890 (600) Current assets Creditors due ivithin one year Total 154.088 154,088 12. Related party transactions During the )ieir to 30 June 2023. le831 fees of £1,845 (2022.. £1.200) IVA5 paid to Cleaver Fulton R2nkin solicitois. Cleavei Fulton Rankio Tiustec5 IAmited is a sole corporate trustee 0£ the trust. Page15