COMPANY REGISTRATION NUMBER: N1054244 CHARITY REGISTRATION NUMBER: 101455 Bob Harte Memorial Trust Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 KEITH M ELHINNEY & C Chartered accountants 42A Clooney Terrace Waterside Londonderry BT47 6AP Bob Harte Memorial Trust Company Limited by Guarantee Flnancial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 17 Notes to the detailed statement of financial activities 18 Bob Harte Memorial Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The trustees. who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. Reference and admlnlstrative detalls Registered charity name Bob Harte Memorial Trust Charity reglstration number 101455 Company registratlon number N1054244 Prlnclpal office and reglstered 18 Georges Street office Londonderry BT48 6RP The trustees Mr G Hepburn Mr D Moore Mr K Thompson MA Temple Independent examiner Keith McElhinney & Co. 42A Clooney Terrace Waterside Londonderry BT47 6AP Structure, governance and management The charity is a company limited by guarantee. which was incorporaled on 10th March 2005. The company is governed by its Memorandum and Articles ot Association, which were signed on 21st February 2005 on behalf of the first members of Ihe charity. The charity is managed by the trustees, who are also the directors for the putposes of company law. They meet throughout the year in order lo manage the activities of the charity. They are elected by members at the Annual General Meeting. Bob Harte Memorial Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (conllnued) Year ended 31 March 2024 Objectives and activities The Charity's objects are:_ al The advancement of education. learning and knowledge by: i) The establishment. maintenance and improvement of a Community Hall and heritage Centre in the Fountain district of Londonderry for the public exhibition. display and interpretation of documents, books, photographs. maps. artefacts and other items relating to the social, cultural. religious. political and economic history of the unionist community of the Fountain and of the City of Londonderry (the "area of benefit") and thereby to promote interest in the past, present and future of that community. ii) Organising, promoting and presenting educational, artistic and cultural activities, including festivals, performances of music, drama, dance and poetry, film shows and walking tours of the City. iii) Carrying out research into the social, cultural, religious, political and economic history, with particular reference to the twentieth century, and current situation of the Unionist community of the Fountain and of the City., bl Promote the value of cultural activity and motivate people at local level to protect and conserve their cultural heritage- cl Provide leisure and recreational facilities for the benefit and enjoyment of the public and in the interests ot social welfare- d) Promote good communily relations. including the facilitalion of peace building initiatives. between the Fountain and neighbouring commLJnilies. The charity have paid due regard lo guidance issued by the Charity Commission in deciding what activities the charity should undertake. Stralegic report The following sections for achievements and performance and linancial review form the strategic report of the charity. Achievemenls and pertormance The Trustees are grateful for the support offered by the Ulster-scots Agency and look forward to availing of further funding. from a range of organisations. as we deliver workshops. programmes and tours once again. The trustees have undertaken to increase the membership of the Bob Harte Memorial Trusl and are delighted with progress so far. With new members. lunding opportunities and the committee in place to deliver these, the Trust is in a much better position this year. Financial review The charity made a surplus for the year of £645 (2023: £742) and at 31 March 2024 had net assets of £1.64512023.' £1,000) Bob Harte Memorial Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2024 The trustees. annual report and the strategic report were approved on 16 December 2024 and signed on behalf ot the board of trustees by- Mr K Thompson Trustee Bob Harte Memorial Trust Company Limited by Guarantee Independent Examiner's Report to the Trustees of Bob Harte Memorial Trust Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of Bob Harte Memorial Trust {'the charity) f9r the year ended 31 March 2024. Responsibililies and basls of report As the trustees of the company land also its directors tor the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the '2008 Act,) and the Companies Act 2006 ('the 2006 Act'l- You are satisfied that the accounts of the company are not required by chariiy or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company are not required to be audiled under Part 16 of the 2006 Acl and are eligible for independent examination, I report in respect ot my examination of the charitys financial statements as carried out under section 65 of Ihe 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65{91(b) of the 2008 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me Cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act" or the financial statements do not accord with those records. or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination- or the linancial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I confirm that there are no other matters lo which your attention should be drawn to enable a proper understanding of the accounts to be reached. Keith McElhinney & Co. Independenl Examiner 42A Clooney Terrace Waterside Londonderry BT47 6AP 16 December 2024 Bob Harte Memorial Trust Company Limited by Guarantee Statement of Financial Activities (including incorne and expenditure account) Year ended 31 March 2024 2024 Unrestricted funds Total funds Total funds 2023 Nole Income and endowments Donations and legacies Charitable activities 4.429 5,737 10,166 4.429 5.737 4,171 6,185 10,356 Total income 10.166 Expenditure Expenditure on charitable activities Total expendilure 9,521 9.521 9,521 9.614 9.521 9.614 Net income and net movement in funds 645 645 742 Reconciliation of funds Total funds brought forward Total funds carried forward 1,000 1.000 1,645 258 1,645 1.000 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 15 torm part of these Ilnancial statements. Bob Harte Memorial Trust Company Limited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Nots Fixed assets Tangible fixed assets 13 129,063 133,212 Current assets Debtors Cash at bank and in hand 14 140 1,279 1.419 216 230 Credilors: amounts falllng due wlthln one year Nel current assets 15 468 588 951 {142) 133,070 Tolal assets less currenl Ilabillties 130,014 Credltors: amounts falling due after more than one year Net assets 16 128,369 1.645 132,070 1,000 Funds of the charity Unrestricled funds 1,645 1.645 1,000 1,000 Total charity funds 19 For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company to obtain an audil of its financial stalements for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of tinancial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The statement of financial position continues on the following page. The notes on pages 8 to 15 torm part ot these financial staternents. Bob Harte Memorial Trust Company Limited by Guarantee Statement of Financial Position (contlnued) 31 March 2024 These financial statements were approved by the board of Irustees and aulhorised for issue on 16 December 2024, and are signed on behalf of the board by: Mr K Thompson Trustee The notes on pages 8 to 15 tomi part of these Ilnanclal statements. Bob Harte Memorial Trust Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General information The charity is a public benefit entity and a private company limited by guarantee. registered in N Ireland and a registered charity in Northern Ireland. The address of Ihe registered office is 18 Georges Street, Londonderry. BT48 6RP. Slatemenl of compllance These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable lo charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Charities SORP {FRS 1021) and Ihe Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of Ihe entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgemenls, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expeclations of future events that are believed to be reasonable under Ihe circumstances. Fund accounling Unrestricted tunds are available for use at the discretion of the Irustees to further any of the charily's purposes. Designated funds are unrestricted funds earmarked by the Irustees for particular fulure project or commitment. Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. reslricted income tunds or endowment funds. Bob Harte Memorial Trust Company Limited by Guarantee Notes to the Financial Statements {contlnu8d) Year ended 31 March 2024 Accounting policles (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitletnent has passed to the charity- it is probable that the economic benefits associated with the transaction will flow to the charity and the amounl can be reliably measured. The following specific policies are applied to particular categories ot income.. income from donations or grants is recognised when there is evidence of entitlement lo the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to Ihe donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution ot general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classitied as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and relurned if unspent. in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activilies, events, non- charttable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking aclivities that further its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activilies. All costs are allocated to expenditure calegories reflecling the use of the resource. Direct costs altributable to a single activity are allocaled directly to that activity. Shared cosls are apportioned between the activities they contribute lo on a reasonable, justifiable and consistenl basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulaled depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Bob Harte Memorial Trust Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Accounting policres (contlnuéd) Tangible assets (continued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement ot financial activities. A decrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses. except to which it offsets any previous revaluation gain. in which case the loss is shown within other recognised gains and losses on Ihe stalement of financial activities. Deprecialion Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Freehold property Fixtures and fittings 2 % straight line 100/0 Straight line Impairment of fixed assels A review for indicators of impairment is carried out al each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds Ihe recoverable amount. the assel is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash- generating unit to which the assel belongs. The cash-generating unil is the smallest identifiable group of assels that includes the asset and generates cash intlows that largely independent of the cash inflgws from other assets or groups ot assets. For impairment testing of goodwill. the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benetit from the synergies of the combination, irrespective ot whether other assets or liabilities of the charity are assigned to those units. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-relaled conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient. it is recognised in income only when the performance-related conditions have been mel. Where grants received are prior to satisfying ihe revenue recognition criteria, they are recognised as a liability. 10 Bob Harte Memorial Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 Accounting policies (contlnued) Financial inslruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the conlractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly iraded or their fair value can otherwise be measured reliably, the investment is subsequently measured at tair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial irbstruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is riot a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value. with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairmenl at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under Ihe appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of signiticance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assels are either assessed individually or grouped on the basis ol similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not resLIIt in a carrying amount of the financial asset that exceeds whal the carrying amount would have been had the impairment not previously been recognised. Limited by guarantee Bob Harte Memorial Trust is a company limiled by guarantee (restricted to £1 per full member) and not having a share capital and is registered as a charity 11 Bob Harte Memorial Trust Company Limited by Guarantee Notes to the Financial Statements (conllnuedj Year ended 31 March 2024 Donations and legacies Unrestricted Tolal Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donatlons Donations 703 703 1,045 1,045 Grants Ulster Scots Resilience Fund Government grant release 600 3,126 4,429 600 3,126 4,429 3,126 4,171 3,126 4,171 Charitable activities Unrestricted Tolal Funds Unrestricted Total Funds Funds 2024 Funds 2023 Sale of goodslservices as part of direct charitable aclivities Rent receivable - Georges Street 65 5,672 5.737 65 5.672 5,737 345 5,840 6.185 345 5,840 6.185 Expenditure on charitable aclivilies by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Charitable Activity Support costs 9.066 455 9.066 455 8.896 718 8.896 718 9,521 9,521 9.614 9.614 Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Charitable Activity 9,066 455 9.521 9,614 Net income Net income is stated after chargingl{crediting): 2024 2023 Depreciation of tangible fixed assels 4,149 4,150 12 Bob Harte Memorial Trust Company Limited by Guarantee Notes to the Financial Statements (continu8d) Year ended 31 March 2024 10. Independenl examination fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statements 468 588 11. Staff costs The tolal staff cosls and employee benefits for the reporting period are analysed as follows.. 2024 2023 The average head count ot employees during the year was Nil {2023.' Nill. No employee received employee benefits of more than £60.000 during the year12023: Nill. 12. Trustee remuneration and expenses no remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 13. Tangible fixed assets Freehold Fixtures and propety fittings Total Cosl At 1 April 2023 and 31 March 2024 Depreciation At 1 April 2023 Gharge for the year At 31 March 2024 187,614 15,291 202,905 56.820 3,788 12,873 361 69,693 4,149 73.842 60,608 13.234 Carrying amount Al 31 March 2024 127.006 2,057 129,063 At 31 March 2023 130.794 2,418 133,212 14. Debtors 2024 2023 Prepayments and accrued income Olher debtors 87 129 140 140 216 13 Bob Harte Memorial Trust Company Limited by Guarantee Notes to the Financial Ststements (conlinued) Year ended 31 March 2024 15. Credilors: amounts falling due within one year 2024 2023 Accruals and deferred income 468 588 16. Creditors: amounts falling due after more than one year 2024 2023 Accruals and deferred income Other creditors 90,905 37.464 94,031 38,039 128.369 132,070 17. Deferred income 2024 2023 At 1 April 2023 Amount released to income Amount deferred in year At 31 March 2024 94,031 (3,126) 109.661 (3.126) (12,504) 94,031 90,905 18. Government grants The amounts recognised in the financial statements for government grants are as follows.. 2024 2023 Recognised in creditors: Deferred government grants due after more than one year Recognised in income from donations and legacies.. Government grants income 90,905 94.031 3,126 3,126 14 Bob Harte Memorial Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 19. Analysis of charitable funds Unreslricted funds At 31 March 202 At 1 April 2023 Income Expenditure General funds Fair value reserve 886 114 10,166 (9,5211 1,531 114 1.000 10,166 19,5211 1,645 At 31 March 202 At 1 April 2022 Income Expenditure General funds Fair value reserve 10,356 (9,614) 886 114 114 258 10,356 {9,6141 1,000 15 Bob Harte Memorial Trust Company Limited by Guarantee Management Information Year ended 31 March 2024 The following pages do not form part of the financial statements. 16 Bob Harte Memorial Trust Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Income and endowments Donations and legacies Donations Ulster Scots Resilience Fund Government grant release 703 600 3.126 1.045 3,126 4.171 4,429 Charitable activitles Sale ot goodslservices as part of direct charitable activities Rent receivable - Georges Street 65 5,672 5,737 345 5.840 6,185 Total rncome 10.166 10,356 Expenditure Expenditure on charitable activities Renl Rates and water Light and heat Repairs and maintenance Insurance Legal and professional fees Depreciation Other interest payable and similar charges General expenses Bank charges Lecture & facilitator fees Printing, postage & stationery 375 892 899 127 716 348 4,149 1,408 13 94 500 500 748 882 215 1,030 588 4,150 1,369 26 104 9,521 9,614 Tolal expenditure 9.521 9.614 Nel income 645 742 17 Bob Harte Memorial Trust Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Expenditure on charitable activities Charitable Activity Activities undertaken directly Rent. room hire & catering Rates & water Light & heat Repairs & maintenance Insurance Depreciation Interest payable and similar charges Lecture & facilitator fees Printing, postage & stationery 375 892 899 127 716 4.149 1.408 500 500 882 215 1.030 4.150 1.369 9,066 8,896 Support costs Legal and professional fees General expenses Bank charges 348 13 588 26 104 455 718 Expenditure on charitable activities 9.521 9.614 18