## **The William Keown Trust** ## **Statement of Financial Activities For the year ended 31 December 2016** ||**Unrestricted**|**Restricted**|**Restricted**|**Total funds**|Total funds|Notes| |---|---|---|---|---|---|---| ||**Funds**|**Funds**||**2016**|2015|| ||£|£||**£**|£|| |**Incoming resources**||||||| |Incoming resources from generated||||||| |funds||||||| |Grants & Donations|**23,108**|**3,350**||**26,458**|48,682|| |Activities in furtherance of the|**1,298**||**0**|**1,298**|903|| |charity’s objects||||||| |Activities for generating funds|**1,510**||**0**|**1,510**|1,550|| |Investment income|**24**||**0**|**24**|25|| |**_Total incoming resources_**|**25,940**|**3,350**||**29,290**|51,160|3| |**Resources expended**||||||| |Resources expended in generating|**0**|||**0**|0|| |funds||||||| |Grants payable in furtherance of the|**150**|||**150**|0|| |objects||||||| |Costs of activities in furtherance of the|**22,335**|**3,750**||**26,085**|29,979|4| |objects||||||| |Governance costs|**6,937**||**0**|**6,937**|10,222|4| |**_Total resources expended_**|**29,422**|**3,750**||**33,172**|**40,201**|| |Net movement in funds|**-3,482**|**-400**||**-3,882**|10,959|| |**Reconciliation of Funds**||||||| |Total funds brought forward|54,377|400||54,777|43,818|5| |Total funds carried forward|**50,895**||**0**|**50,895**|54,777|| The above amounts relate to continuing operations of the charity. ## **Total recognised gains and losses** The company has no recognised gains or losses other than those included above and therefore no separate statement of total recognised gains or losses has been presented. There is no difference between the retained surplus for the year stated above and its historical cost equivalent ## **The accompanying notes are an integral part of this income and expenditure account.** **8** ## **The William Keown Trust BALANCE SHEET As at 31 December 2016** ||**2016**|2015|Notes| |---|---|---|---| ||**£**||| |**Fixed assets**|||| |Tangible assets|**858**|1,073|10| |**Current assets**|||| |Stock|**100**|100|11| |Debtors|**150**||| |Cash at bank & in hand|**53,807**|60,501|| |Total current assets|**54,057**|60,601|| |**Liabilities**|||| |Creditors: Amounts falling due|**4,020**|6,897|12| |within one year|||| |Net current assets|**50,037**|53,704|| |**Net Assets**|**50,895**|54,777|| |The funds of the charity:|||| |General funds|**20,895**|24,377|| |Designated funds|**30,000**|30,000|5| |Restricted funds|**0**|400|15| |**Total funds**|**50,895**|54,777|| For the year ended 31 December 2016, the company was entitled to exemption from the requirement to obtain an audit under Article 257A of the Companies (Northern Ireland) Order 1986. No members have required the company to obtain an audit of its accounts for the year in question in accordance with Article 257B(2). The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. ………………………… OLIVE FULTON Director Approved by the Board on 3 April 2017 9 **The William Keown Trust FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2016** The accompanying notes are an integral part of this balance sheet ## **The William Keown Trust** ## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2016** ## **Notes to the financial statements for the year ended 31 December 2016** 1. The Trust is an incorporated company limited by guarantee with charitable status. ## **2. PRINCIPLE ACCOUNTING POLICIES** The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company’s financial statements. ## **a) Basis of preparation** 1. The accounts have been prepared on an accruals basis and include income and expenditure as they are earned or incurred. 2. The recommendations of SORP (Accounting and Reporting by Charities) and FRSSE have been followed in the preparation of these accounts. 3. The accounts comply with the Companies Act 2006. ## **b) Incoming resources** Grants that relate to specific capital expenditure are treated as restricted income which is credited to the Statement of Financial Activities when received/receivable. Revenue grants are credited to the Statement of Financial Activities in accordance with the terms of the grant. Donations are included in the Statement of Financial Activities when receivable. Bank interest is accounted for on the basis of the amounts receivable. ## **c) Resources expended** ## _**Costs of activities in furtherance of the objects of the charity**_ This represents all expenditure directly attributable to charitable causes. ## _**Support costs in furtherance of the objects of the charity**_ This includes all expenditure not directly allocated above. Overhead costs have been attributed to the management and administration of the charity. ## **d) Fixed assets** Fixed assets are stated at cost less accumulated depreciation. Items costing less than £200 are not capitalised. Depreciation is provided at rates calculated to write off the cost, less accumulated residual value, of each asset over its estimated useful life as follows: Plant & Equipment 25% per annum 10 ## **The William Keown Trust FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2016** ## **Notes to the financial statements for the year ended 31 December 2016** ## **e) Funds Structure** The company has various types of funds for which it is responsible and which require separate disclosure. These are as follows: ## _**Restricted funds**_ Income receivable which is earmarked by the donor for specific purposes. Such purposes are within the overall aims of the organisation. ## _**Designated funds**_ The company may at its discretion set aside unrestricted funds for specific purposes which would otherwise form part of the general reserve of the Company. The designated funds were available to spend as at 31 December 2016 as explained at note 5. ## _**Unrestricted/General funds**_ Funds which are expendable at the discretion of the company in furtherance of the charity. In addition funds may be held in order to finance capital investment and working capital. 11 ## **The William Keown Trust** ## **Notes to the financial statements for the year ended 31 December 2016** |**3. INCOMING RESOURCES**|**3. INCOMING RESOURCES**||||||| |---|---|---|---|---|---|---|---| ||**Unrestricted**|**Restricted**||**Total**||2015|| ||**Funds**|**Funds**||**Funds**|**2016**||| ||**£**|**£**||**£**||£|| |**_Generated Funds_**|||||||| |**_Grants & Donations_**|||||||| |Flag Days|**11,687**|||**11,687**||18,258|| |Donations & Sponsorship|**11,366**|**3,350**||**14,716**||30,290|| |Collection boxes|**55**||||**55**||134| ||**23,108**|**3,350**||**26,458**||48,682|| |**_Incoming Resources from operating_**|||||||| |**_activities_**|||||||| |Activities in furtherance of the|||||||| |charity’s objects|||||||| |Access statements|**1298**||||**1,298**||747| |Other|**0**||||**0**||156| ||**1,298**||**0**||**1,298**||903| |Activities for generating funds|||||||| |Advertising|**1,510**||||**1,510**|1,490|| |Sundry|||||**0**||60| ||**1,510**||**0**||**1,510**|1,550|| |**_Investment income_**|||||||| |Bank interest|**24**||**0**||**24**||25| |**_Total Incoming Resources_**|**25,940**|**3,350**||**29,290**||51,160|| 12 ## **The William Keown Trust** ## **Notes to the financial statements for the year ended 31 December 2016** ## **Donations & Sponsorship** The Trust appreciates all donations. Those donations of £300 and over are listed below: ||2016| |---|---| |Ardbarron Trust|500| |Anthology NI Ltd|500| |CES Quarry Products Ltd|4000| |Enkalon|1000| |Halifax Foundation for NI|1200| |Mid Ulster DC|400| |NIE Staff & Pensions Charity Fund|750| |TBF&KL Thompson Trust|3000| |Omagh Musical Evening (convenor Olive Fulton)|2015| ## **4. RESOURCES EXPENDED** |**4. RESOURCES EXPENDED**||||| |---|---|---|---|---| ||**Unrestricted**|**Restricted**|**Total**|2015| ||**Funds**|**Funds**|**Funds 2016**|| ||**£**|**£**|**£**|£| |_Costs in furtherance of the objects_||||| |_of the charity_||||| |Salaries|**11,108**||**11,108**|15,592| |Travelling & subsistence|**1,514**||**1,514**|1,525| |Telephone|**275**||**275**|2,279| |Printing|**2,776**|**1,150**|**3,926**|4,823| |Postage|**2,109**||**2,109**|176| |Stationery|**846**||**846**|523| |Sundry|||**0**|100| |Access|**3,133**||**3,133**|2,906| |Achievement|**209**|**2,600**|**2,809**|2,427| |Functions|**150**||**150**|150| |Depreciation & Loss on sale of|**215**||**215**|-522| |assets||||| |TOTAL|**22,335**|**3,750**|**26,085**|29,979| 13 ## **The William Keown Trust Notes to the financial statements for the year ended 31 December 2016** ||**Unrestricted**|**Restricted**|**Restricted**|**Total**|**Total**|Total Funds| |---|---|---|---|---|---|---| ||**Funds**|**Funds**||**Funds**|**2016**|2015| ||£|£||£||£| |_Governance & support costs_||||||| |Rent|**3,250**||||**3,250**|3,000| |Light & Heat|**230**||||**230**|917| |Insurance|**725**||||**725**|645| |Repairs & maintenance|**22**||||**22**|0| |Sundry|**2,304**||||**2,304**|2,006| |Bank charges & interest|**406**||||**406**|440| |Leasing|||||**0**|3,214| |TOTAL|**6,937**||**0**||**6,937**|10,222| ## **5. MOVEMENT OF FUNDS** |**5. MOVEMENT OF FUNDS**||| |---|---|---| ||Restricted|| ||Funds|| |Balance b/f|**400**|| |Net movement to 31/12/2016|**-400**|| |Transfer||| |Balance c/f||**0**| ||Designated|| ||Funds|| |Balance b/f|**30,000**|| |Transfer||**0**| |Balance c/f|**30,000**|| The Trust does not receive central government core funding and would therefore aim, in the interest of prudence, to curtail expenditure so that recurring financial commitments and costs can be met for a year. In designating funds in this way, the Trust is able to reassure its bankers on security, and the public of the viability and sustainability of service and commitment without concern of interruption of its objective. 14 ## **The William Keown Trust** ## **Notes to the financial statements for the year ended 31 December 2016** ## **6. TAXATION** No taxation charge arises as the Trust is a registered charity. ## **7. EMPLOYEE INFORMATION** The average number of persons (including directors) employed during the year was: |Directors
Managerial, administration and
childcare
The aggregate payroll costs of these persons were as follows:
Wages and salaries
Social security costs|**2016**
2015
**£**
£
**0**
0
**2**
2
**2**
3
**2016**
2015
**£**
£
**11,108**
15,592
**11,108**
15,592| |---|---| ||| All employees spend time pursuing the charitable objects of the charity together with fund-raising and administration. Costs have been allocated on an approximate time basis. Payments to directors in 2016 were £150 (2015 £150). The Trust head quarters are in premises owned by and rented from Mrs Keown for £3,600pa. ## **8. INTEREST PAYABLE AND SIMILAR CHARGES** **----- Start of picture text -----**
2016 2015
£ £
On bank overdraft 0 0
**----- End of picture text -----**
15 ## **The William Keown Trust** ## **Notes to the financial statements for the year ended 31 December 2016** ## **9. NET MOVEMENT IN FUNDS FOR THE YEAR** |Net movement in funds for the year is
stated after charging:
Depreciation
Accountants’ remuneration
**10. TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2016
Additions
Disposals
At 31 December 2016
**DEPRECIATION**
At 1 January 2016
Charge for the year
Eliminated on disposals
At 31 December 2016
**NET BOOK VALUE**
At 1 January 2016
**At 31 December 2016**
**Capital Commitments**
Contracted
Authorised but not contracted|**2016**
2015
**£**
£
**215**
271
**1,476**
1,476
Equipment
£
19,827
19,827
18,754
215
18,969
1,073
**858**
**2016**
2015
**£**
£
**nil**
nil
**nil**
nil| |---|---| ||| 16 ## **The William Keown Trust** ## **Notes to the financial statements for the year ended 31 December 2016** ## **11. STOCK** **----- Start of picture text -----**
2016 2015
£ £
Materials 100 100
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£ £
Accruals 4,020 6,897
**----- End of picture text -----**
## **13. LIABILITY OF MEMBERS** The company is limited by guarantee and therefore does not have a share capital. The liability of each member is limited to an amount not exceeding £1. ## **14. RELATED PARTY TRANSACTONS** ## _**Trading**_ There were no trading activities with the directors of the company during the year. ## **15. RESTRICTED FUNDS** It is normal Trust policy that these funds will be expended in the next twelve months to finance objects of the Trust and overheads in accordance with the wishes of the funder and that resources are available in appropriate form to apply the funds in accordance with terms specified by the funder. Restricted funds for the year were as follows: ||As at|Received|Expended|**As at**| |---|---|---|---|---| ||01/01/2016|during year|during year|**31/12/2016**| ||£|£|£|**£**| |Esme Mitchell|400||400|**0**| |Enkalon||1,000|1,000|**0**| |Halifax Foundation for NI||1,200|1,200|**0**| |NIE Staff & Pensions Charity Fund||750|750|**0**| |Mid Ulster DC||400|400|**0**| ||400|3,350|3,750|**0**| 17