Unaudited Financial Statements The Meeley Family Foreign Missions Benevolent and Educational Trust
For the year ended 30 June 2025
The Meeley Family Foreign Missions Benevolent and Educational Trust
Contents
| Page | |
|---|---|
| Reference and administrative details of the Trust, its Trustees and advisers | 1 |
| Trustee's report | 2 - 4 |
| Independent examiner's report | 5 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 15 |
The Meeley Family Foreign Missions Benevolent and Educational Trust
Reference and administrative details of the Trust, its Trustees and advisers For the year ended 30 June 2025
| Trustees | Cleaver Fulton Rankin Trustees Limited |
|---|---|
| Charity registered number 101438 Principal office Cleaver Fulton Rankin Trustees Limited 50 Bedford Street Belfast BT2 7FW Accountants Grant Thornton Advisors (NI) LLP Chartered Accountants 12 - 15 Donegall Square West Belfast BT1 6JH |
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The Meeley Family Foreign Missions Benevolent and Educational Trust
Trustee's report
For the year ended 30 June 2025
The Trustee present their annual report together with the financial statements of the Trust for the 1 July 2024 to 30 June 2025.
The Charity registered number is 101438 and the registered office is 50 Bedford Street, Belfast, BT2 7FW.
Objectives and activities
a. Policies and objectives
The Trust's objective is to manage a share portfolio and pay the net income generated from that portfolio to the charitable beneficiaries named in the Will of the late Michael Meeley who died on 16th September 1946.
b. Main activities undertaken to further the charity's purposes for the public benefit
The Trust's first purpose is to pay to the Parish Priests, for the time being of Drumcree, Portadown and Loughgall, County Armagh the sum of six pounds per annum each for the purpose of saying one Mass per month each and to pay to the two Curates, for the time being of Drumcree, Portadown, the sum of three pounds per annum each for the purpose of saying bimensal masses each. The said masses are to be said for the happy repose of the souls of the Meeley family and the most abandoned soul in Purgatory. The honorarium for each Mass is to be ten shillings. The direct benefits which flow from this purpose include the financial assistance to the Parish Priests of Drumcree and Loughall and to two curates of Drumcree. These benefits can be demonstrated by the scheduling of these masses by the Parish Priests and those that attended the masses.
The Trust's second purpose is to pay 10% of the net income, as found in paragraph 1 (but not exceeding £30 per annum) to the Parish Priests, for the time being of the Parishes of Drumcree, Portadown and Loughgall, County Armagh, in such proportions as the Trustees of the said Trust in their discretion think fit, such sums to be expended for the benefit of the aged or infirm poor of the said Parishes. The direct benefits which flow from this purpose include providing financial assistance to the aged or infirm of both parishes. These benefits can be demonstrated by the increased level of care and the reduction of poverty in respect of those who this fund is applied to.
The Trust's third purpose is to pay 25% of the net income, as found in paragraph 1 (but not exceeding £100 per annum) to any Catholic Institute or Home which provides for the care of the aged or infirm poor, cripples, blind persons or orphans in Ireland, at the discretion of the Trustees of the said Trust. Such sum or sums to be used for educational purposes or otherwise at the discretion of the said trustees. In the event of the percentage herein exceeding the maximum mentioned, the excess will be used to assist educational work, especially in the Irish Language, in such manner as the said Trustees of the said Trust shall think fit. In the event of the said trustees establishing a scholarship said scholarship shall be called the "Meeley Family Scholarship". The direct benefits which flow from this purpose include providing financial assistance to any Catholic Institute or home which cares for aged, infirm, blind, cripples or orphans in Ireland. These benefits can be demonstrated by the feedback from the Catholic Institute or home which provides the care and the educational benefits, particularly in respect of the Irish language.
All the remainder of the said annual income is to be expended by the Trustees of the said Trust to assist the Irish Catholic Foreign Missions in such manner as the said Trustees shall think fit provided however that a donation is to be paid each year to the Mission to Sierra Leone, West Africa and the money is to be spent in Ireland for the purposes of the said Mission. The direct benefits which flows from this purpose include the assistance provided to the Irish Catholic Foreign Missions, in particular the Mission to Sierra Leone to achieve a reduction in poverty. These benefits can be demonstrated by the Irish Catholic Foreign Missions, particularly in the Mission to Sierra Leone.
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The Meeley Family Foreign Missions Benevolent and Educational Trust
Trustee's report (continued) For the year ended 30 June 2025
Achievements and performance
a. Review of activities
There has been no change in the activities of the trust during the year.
b. Investment policy and performance
The Trust manages a share portfolio and pays the net income generated from the portfolio to the charitable beneficiaires named in the Will of the late Michael Meeley who died on 16th September 1946.
Financial review
At the end of the year, the charity had assets of £167,331 (2024: £165,317) and liabilities of £1,800 (2024: £2,841). The net funds of the charity have increased by £3,055 (2024: £8,862), and the trustees are satisfied with the level of retained funds at the year end.
a. Reserves policy
The Trust holds reserves sufficient to meet the day to day requirements of operations.
b. Going concern
The trustees have assessed that The Meeley Family Foreign Mission and Benevolent Trust has adequate resources to meet the ongoing costs of the entity for a minimum of 12 months from the date of signing the financial statements.
For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.
Structure, governance and management
a. Constitution
The principal object of the trust is to provide income for charitiable beneficiaries. Charitiable beneficiaries are the Parish Priests of Drumcree and Loughall, two curates of Drumcree, the aged or infirm of the Parishes of Drumcree, Portadown and Loughgall, any Catholic Institute or Home who cares for the aged, infirm, blind, cripples, orphans in Ireland, those that require assistance with educational work, and the Irish Catholic Foreign Missions, in particular the Mission to Sierra Leone.
There have been no changes in the objectives since the last annual report.
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The Meeley Family Foreign Missions Benevolent and Educational Trust
Trustee's report (continued) For the year ended 30 June 2025
Structure, governance and management (continued)
b. Methods of appointment or election of Trustee
The management of the Trust is the responsibility of the Trustee who are elected and co-opted under the terms of the Will.
Cleaver Fulton Rankin Trustees Limited was the sole trustee of the trust during the current and prior year.
The directors of Cleaver Fulton Rankin Trustees Limited are: K L Blair (resigned 31 October 2024) J Forrester MKG Graham T B Rankin (appointed 28 November 2024)
Statement of Trustee's responsibilities
The Trustee is responsible for preparing the Trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Northern Ireland requires the Trustee to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Trust and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustee are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in business.
The Trustee is responsible for keeping adequate accounting records that are sufficient to show and explain the Trust's transactions and disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008, the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustee on 02 December 2025 and signed on their behalf by:
Cleaver Fulton Rankin Trustees Limited (Trustee)
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