Unaudited Financial Statements The Meeley Family Foreign Missions Benevolent and Educational Trust For the year ended 30 June 2023
The Meeley Family Foreign Missions Benevolent and Educational Trust Contents Page Referencg and admlnlstrative details of the Trust, its Trustees and advlsers Trustee's report Independent examlnerfs report statement of linancial activities Balance sheet Notes to the flnancial statements 9-15
The Meeley Family Foreign Missions Benevolent and Educational Trust Reference and admlnlstratlve details of the Trust. its Trustees and advlsers For the year ended 30 June 2023 Trustees aeaver Fulton Rankin Trustees limited Charity registered umber 101438 Principal offlce Cleaver Fulton Rin Trustees limited 50 Bcdford Street ]JelE3st BT2 7FiV Accountants Grant Thornton (NI) tLP Chartered Accountants 12 - 15 Donegxll Square Ivest BelfRst BTI 6JH P4e1
The Meeley Family Forelgn Mlssions Benevolent and Educatlonal Trust Trustee's report For the year ended 30 June 2023 Thc Trustee piesent tlieir annual ieport tOged1 ivith the financAal statements of the Ttust for dic l Jul}r 2022 to 30 Julie 2023. Tlie Cliarity, rcgi5tcied number ts 101438 and tl)e registered olfice is 50 Bedford Street, Bdflst, BT2 7FI¥I Objectives and actlvities Policies and objectives Thc Trust's objective is to managc a share portfolio and pa}, tlie net income gencratcd Fiom diAt portfolio to die cliaritable beneficiaries named in the Ivill ol the latc Michael Mccley ivho died on 16tli Septeinbcr 1946. b. Main activities undertaken to further the charity's purposes for the publlc benefit Tlie Triist's $t purpose 15 to PRY to the PAnsli Priests, for tlie time being ol Druincree, Portadoivn 2nd Lougliyll, Count), ArmAgli die sum of six pounds per aniiuin each foi die purpose of sft)iing one h,11ss per mondi eacli and to P2)T to tlie tsvo Cuiatcs, for die ttine beg of Druincree. Porrxdoivn. tlie Sum of tlircc poiinds per 2nnum eicli fo tlie putpose of 5ayAng bllnensal masses each. Thc said masscs arc to be s21d for tlie I1¢1PP)' reposc of thc Souls of tlic Meeley fimii}i and thc most Abandoned soul in Purgatory. llie lionorarium for each fvlass is to be ten sliillings. Tlie direct bcftcfit5 IvI]ich floiv from Iliis purpose incliide die finAnciAI assistance to tl)e Parisli Pi"Aests of Dninicrce and Lougliall and to ttvo cuiates of Divn]crce. Tliese beneFits can be deinonsttated b), thc 5clicduliThg OE diese inasses b}, tlie l)11islI Pric5ts Trnd tliose tliat attended the mR55C5. Tlie Trust's 5ccoAd puipose is to pa}, IOQ/o of tlie net income. As found in paragraph l O)ut not exceeding £-30 per nnuin) to tlie Parisli Priests, for tlie time beins OE the Parislic5 OF Drumcree, Portadoivn and Loug]ill. Coiint), Aiinagli, irt sucli ptoportions as die Tiustees of tile s#id 'l'tust in dicir discretion d]k fit, sucli suins to be eypendcd Foi tlie benefit of the aged or infirm poor of the said ParAslies. Tl)e direcc benefits ivhich floiv Froin tliis purpose include providing FLnaocial AssistAnce to tl)e aged or AnM OF both pari51ic5. Tliese benefits cin be (lemonstrated b}, tlic increased Ire1 of carc and die rcduction of poverty in respect OF th05c ivho tl]is tund is qpplicd to. Tlie Trust's diird purpose is to pa), 25 /0 of tl)c net incoine, as Found in parag11plI l O)ut Iiot exceeding £100 pei annum) to xny Catholic Institute or Home ivliich proiridcs For tlic carc of die aged or infirm poor. cripples, blind pcrsons or orplians in Ireknnd, at tlic disciction ol tlie Trustees of the said 'l"Kust. Sucli sum or sums to bc 115ed foi educational puOse5 or odienvise at tl)e discretion of tlie said tru5tccs. In the event of tlie peicentage herein eNcecding tlie maximum mentioned. thc cxcc55 ivill be used to 2SSiSt educational ivork, cspecially in die Iri511 Languige, in such manncr as dic sid Trustees ol tlie said 'fmst 51iall diink fit. In die event of tlie said ttustees CSt4qblkskiing 2 scliolarsliip said sdiolar511ip 51iTrll be called tlie "Meeley raini]), Scliolarsliip" The direct bcIicfits ivlllcll floiv from tlus purpose include providing financial assistaace to any CRtholic Institute or liome ivliicli c11es Eor ged. inftsm, blind, cripples or orphans An Ircland. Tliese benefits can be demonstrAted by tlic fccdback tL'om die Cadiolic Institute or home ivhich pmvides tl)e care and the educational benefits, particu]arlsT in iespect of tlie Iiisli Illl the rcmqinder OE the said annuAI incomc is to be expended by tlie TnteeS of the said TIu5t to aS515t die Irisli Cad)olic Foreign Nlission5 tn such manner as tlie said Trustees sl)all tliink fit piovided Iioivever tliat i don2tion is to bc P14 id C&qclI }re to die fvlission to Sierra Leone, IItC5t AFrica and die tnone)? is to be spent in Ircli2nd foi dic purposes of die said NIission. The direct benefits ivliicli floivs from diis puiposc include tlie 2SSlStAnce proiiided to dic Irish Cadiolic Foreign INIissions. in particulai die Mission to Sierra Ltone to acliiuTC a Ieduction in poverty. These benefits can bc demonstrated by tlie Irisl) Catliolic Foreign Missions, Particularly in the Mission to Sierri Lconc. PwJe 2
The Meeley Famlly Forelgn Missions Benevolent and Educational Trust Trustee's report (continued) For the year ended 30 June 2023 Achievements and petforniance Review of activities Tliete ha5 bccn no change in the activities of the trust during the }iear. b. Investment policy and performance The Trust mAnAges a slYdIe portlolio pays the net income gcnerated from tlie portfolio to the diAlltable benefici9ires named in the Ivill of tl)e late fvIicliael Meeley ivho died on 16di September 1946. Financial teview At tlie end of tlie year, the diarity had assets of £156.014 (2022: £154.688) and liabijities of £2,400 (2022: £600). Tlie net Funds ol tlie charity liave decreased by £474 (2022: £13,087), and die trnstecs are satisfied ivitli tlie level of Tetained frnds at tlie year end. a. Reserves polScy The Tiust hold5 re5CeS sufficfient to meet the day to day requirements OE operations. b. Going concern The twstees Iiave assessed that The Meeley Faniily Fo1g Mission And Benevolent Tmst has adequxte resourcc5 to meet the ongolng costs of the entity foI a minimum of12 mondis from the date ol signing the financial statements. For diis ieason tlie financial statements havc bccn prepared on a going concern basis ivliicli presuines tlie rcalis2tion of Assets And b-abiiities in Ilie normal course of buseSS. Sttuctiire) govemanee and management Constitution The ptAncApal objcct ol the trust is to piovide income for cliaritiable beneficiarie5. CliaritiAble beneficiiries tlie PArisli Priests of Diumcree Lougliall. Thvo curates of Dnmncrcc, the aged or InFM of the Paiishes of Drumcree, Portadoivn Loughg2lL an}. Catholic Institute or Home ivho cares for tlie aged, Infirm, blind, cripples, otplians irk Ite12nd, those that require Assistance ivith education%1 ivorK and the Irish CatholAC Foreign hIissAOnS, in particu]2r tlie fvIissAon to Sleria Leone. Tliere h%ve been no changes in the objectives since tlie last annual report. Paje 3
The Meeley Family Foreign Missions Benevolent and Educational Trust Trustee's report (continued) For the yearended 30 June 2023 Structure¥ 9overnance and management (contlnued} b. Methods of appointment or election of Trustee Tlic management of tlie Trust is the responsibility of die Trnstee ivho are elected and co-optcd under die tcrms of the Ivill. Cleaver Fulton Rankin Trustee5 Limited the sole tmstee of the trL15t dui'ing tl)c current 2nd prior }ieir. Tlie directors ol CleaiTCt Fulton Rankin Trnstees LimAted are: I< L Blqit J Forrester IKG Gialjam statgment of Trustee's responsibilitios Tlie Trustee is rcsponsible for PreParg clie Trustee's report and die financial statenients in ¢lccoidRnce ivitli pplicablc Iaiv 2nd Umted Kingdom Accouottng StAndArds (United Kingdom Generall)T ilcccptcd Accounting Practice . Tlie 11¢ iv 2ppIicii ble to chariucs in Nortl)ern Ire12nd requite5 thc Tru5tcc to piepare financial statenients For eacli fmaftciAI ivl]icli give a ttue 2nd Falr irieiv of the state of affairs ol tlie Trust 14 nd OF Éts incoii]ing ics0CCs And application of iesources, Ancluding its income and expenditure. lor th2t period. In preparAng tliese financiql statements. thc Trn5tee are Ieqllcd to: select suitable accounting policies and then appl}T thcm consistcntly- observe the mctliods and piinciples of the Cliarities SORP (FRS 102)" make judgements and #ccounting estimates tliat are ttasonable and prudcnt. stqtc ivhctlicr 2ppltcable UK Accouiiting Standards (FRS 102) liiire been folloivcd. 5ubjcct to aii)T i]iateii&ql dcpArttires disclosed and expli¢ ined in the tmAncial stateiiients- piep41re tlic fmaAciAI statenients on the going conccin b%ksi5 unles5 It ts in2ppropriate to piesuine tliit die Tiust ivill contiThuc in business. Tlic Tiustee is responsible for kccping adequate accounting KecoKds that aic 5uEficient to shoiv and eNplain tlie "rrusgs tran5Actions 2nd disclose ivirh reasonable Accurac)r at %ny tiiiie tlie fanciaL position of tlic Trust And cnAblc diem to ensure tli14 t the financiRI statements coinply ivith tlie Charities Act (Nortlicrn Ireland) 2008, dje Cliarities (Accounts and Rcports) Rcgu12tions (Northern Iicland) 2015 and die piovtsions OF tlie Trust deed. 'fiie}' i ic xlso responsible Eor sileguatdiog dic Asset5 of tlie Trust 2nd lience for taking reAsonable steps for tlie prevention ind detection of fraud And other irregularities. Approved by order of the membe15 of die board of Trustee on 29 ApiAi 2024 and sfigned on their belialE by.. Cleaver Fiilt (rrustee) Rankiti Tnistees limited Page tl