The Meeley Family Foreign Missions Benevolent and Educational Trust
Statement of financial activities
For the year ended 30 June 2025
| Note Income from: Investments 4 Total income Expenditure on: Charitable activities: 5 Direct costs Governance costs Total expenditure Net expenditure before net gains on investments Net gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2025 £ 3,976 3,976 60 4,123 4,183 (207) 3,262 3,055 162,476 3,055 165,531 |
Total funds 2025 £ 3,976 3,976 60 4,123 4,183 (207) 3,262 3,055 162,476 3,055 165,531 |
Total funds 2024 £ 2,656 2,656 60 6,306 6,366 (3,710) 12,572 8,862 153,614 8,862 162,476 |
|---|---|---|---|
All amounts relate to continuing operations.
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 15 form part of these financial statements.
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The Meeley Family Foreign Missions Benevolent and Educational Trust
Balance sheet
For the year ended 30 June 2025
| 2025 | 2025 | 2024 | |||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Investments | 8 | 155,478 | 160,625 | ||
| Cash at bank and in hand | 11,853 | 4,692 | |||
| 11,853 | 4,692 | ||||
| Creditors: amounts falling due within one year | 9 | (1,800) | (2,841) | ||
| Net current assets | 10,053 | 1,851 | |||
| Total net assets | 165,531 | 162,476 | |||
| Charity funds | |||||
| Restricted funds | 10 | 165,531 | 162,476 | ||
| Total funds | 165,531 | 162,476 |
The financial statements have been prepared in accordance with the provisions of FRS 102 1A - small entities.
The financial statements were approved and authorised for issue by the Trustee on 02 December 2025 and signed on their behalf by:
Cleaver Fulton Rankin Trustees Limited
(Trustee)
The notes on pages 9 to 15 form part of these financial statements.
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The Meeley Family Foreign Missions Benevolent and Educational Trust
Notes to the financial statements
For the year ended 30 June 2025
- General information
The Meeley Family Foreign Missions Benevolent and Educational Trust is an unincorporated trust. Its principal office is 50 Bedford Street, Belfast, BT2 7FW, and it has a charity registration number of 101438.
-
Accounting policies
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2.1 Basis of preparation of financial statements
The financial statements are prepared on a going concern basis, under the historical cost convention unless otherwise noted in the accounting policies below. They have been prepared in accordance with applicable law and accounting standards issued by the Financial Reporting Council, including FRS102 “The Financial Reporting Standard Applicable in the UK and Republic of Ireland” (“FRS102”), and the Statement of Recommended Practice – Accounting and Reporting by Charities, effective 1 January 2019 (“SORP”).
The financial statements are prepared in sterling (£).
The Meeley Family Foreign Missions Benevolent and Educational Trust constitutes a public benefit entity as defined by FRS 102.
2.2 Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the forseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policices.
2.3 Income
All income is recognised once the Trust has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Investment income is included when receivable.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the trust.
All expenditure is inclusive of irrecoverable VAT.
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The Meeley Family Foreign Missions Benevolent and Educational Trust
Notes to the financial statements
For the year ended 30 June 2025
- Accounting policies (continued)
2.5 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the Trust and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Trust for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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The Meeley Family Foreign Missions Benevolent and Educational Trust
Notes to the financial statements
For the year ended 30 June 2025
- Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Trust makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Fair value of investments
Uses various valuation techniques to determine the fair value of financial instruments (where active market quotes are not avaliable) and non- financial assets. This involves developing estimates and assumptions consistent with how market participants wold price the instrument. The trustees bases its assumptions on observable data as far as possible but this is not always avaliable. In that case, management uses the best information avaliable. Estimated fair values may vary from the actual prices that would be achieved in an arm's lenght transaction at the reporting date.
- Investment income
| Listed investments Interest received Total 2025 Listed investments Investment income - other Total 2024 |
Restricted funds 2025 £ 3,907 69 3,976 Restricted funds 2024 £ 2,567 89 2,656 |
Total funds 2025 £ 3,907 69 3,976 |
|---|---|---|
| Total funds 2024 £ 2,567 89 2,656 |
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The Meeley Family Foreign Missions Benevolent and Educational Trust
Notes to the financial statements
For the year ended 30 June 2025
- Analysis of expenditure on charitable activities
Summary by fund type
| Disbursements to beneficiary Investment expenses Legal and professional fees Total 2025 Disbursements to beneficiary Investment expenses Legal and professional fees Total 2024 Independent examiner's remuneration Fees payable to the Trust's independent examiner for the independent examination of the Trust's annual accounts |
Restricted funds 2025 £ 60 2,020 2,103 4,183 Restricted funds 2024 £ 60 1,917 4,389 6,366 2025 £ 1,800 |
Total 2025 £ 60 2,020 2,103 4,183 |
|---|---|---|
| Total 2024 £ 60 1,917 4,389 6,366 |
||
| 2024 £ 1,800 |
6. Independent examiner's remuneration
7. Resources expended
During the year, no Trustees received any remuneration (2025 - £NIL). During the year, no Trustees received any benefits in kind (2025 - £NIL). During the year, no Trustees received any reimbursement of expenses (2025 - £NIL).
As detailed in Note 12, the Trustees received remuneration for services rendered to the Trust in the current year.
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The Meeley Family Foreign Missions Benevolent and Educational Trust
Notes to the financial statements
For the year ended 30 June 2025
| 8. Fixed asset investments Cost or valuation At 1 July 2024 Additions Disposals Revaluations At 30 June 2025 Net book value At 30 June 2025 At 30 June 2024 9. Creditors: Amounts falling due within one year 2025 £ Accruals and deferred income 1,800 |
Listed investments £ 160,625 138,774 (147,182) 3,262 155,478 155,478 160,625 2024 £ 2,841 |
|---|---|
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The Meeley Family Foreign Missions Benevolent and Educational Trust
Notes to the financial statements
For the year ended 30 June 2025
- Statement of funds
| Statement of funds | Statement of funds | ||||
|---|---|---|---|---|---|
| Statement of funds - current year | |||||
| Balance at 1 | Gains/ | Balance at | |||
| July 2024 | Income | Expenditure | (Losses) | 30 June 2025 | |
| £ | £ | £ | £ | £ | |
| Restricted funds | |||||
| Restricted Funds - all funds | 162,476 | 3,976 | (4,183) | 3,262 | 165,531 |
| Statement of funds - prior year | |||||
| Balance at | Gains/ | Balance at | |||
| 1 July 2023 | Income | Expenditure | (Losses) | 30 June 2024 | |
| £ | £ | £ | £ | £ | |
| Restricted funds | |||||
| Restricted Funds - all funds | 153,614 | 2,656 | (6,366) | 12,572 | 162,476 |
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The Meeley Family Foreign Missions Benevolent and Educational Trust
Notes to the financial statements
For the year ended 30 June 2025
- Analysis of net assets between funds Analysis of net assets between funds - current year
| Fixed asset investments Current assets Creditors due within one year Total |
Restricted funds 2025 £ 155,478 11,853 (1,800) 165,531 |
Total funds 2025 £ 155,478 11,853 (1,800) 165,531 |
|---|---|---|
Analysis of net assets between funds - prior year
| Fixed asset investments Current assets Creditors due within one year Total |
Restricted funds 2024 £ 160,625 4,692 (2,841) 162,476 |
Total funds 2024 £ 160,625 4,692 (2,841) 162,476 |
|---|---|---|
12. Related party transactions
During the year to 30 June 2025, legal fees of £1,968 (2024: £1,548) was paid to Cleaver Fulton Rankin solicitors. Cleaver Fulton Rankin Trustees Limited is a sole corporate trustee of the trust.
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