The Esme Mitchell Trust Statement of flnancial activltles For the year ended 5 April 2023 Unrestrlcted funds 2023 Total funds 2023 Tolal funds 2022 Note Income from: Inveslmenls Other income 241,380 14,991 241,380 14,991 238,050 16,218 Total Income 256,371 256,371 254,268 Expendlture on.. Charitable acllvilies 269,192 259,192 321,316 Total expendltu re 259,192 259,192 321,316 Net expendlture before net (lossesllgalns on Investrnents Net (lossesllgains on investments 12,821) 1607,484) 12,8211 1607,4841 (67,0481 216,053 Net movement In funds 1610,3051 1610,3051 149,005 Reconclllatlon of funds: Total funds brought forward Net movement In funds 9,002,498 1610,3051 9,002,498 {610,3061 8,853.493 149,005 Total funds carrled forward 8,392,193 8,392,193 9,002,498 The Statement of Financlal AGtivilies includes all gains and losses recognised In the year. The notes on pages 9 10 16 form part of these financial statements. Page 7
The Esme Mltchell Trust Balance Sheet As at 5 Aprll 2023 2023 2022 Note Flxed assets Investments 8,156,982 8,822.466 8,156,982 8,822,486 Currènt assèts D8btors Cash at bank and in hand 24,850 262,171 24,000 275,602 287,021 299,602 Creditors.. amounts falling due wilhln one year 161,8101 1119,570) Net current assets 235,211 180,032 Total assets less current Ilabllltles 8,392,193 9,002,498 Total net assets 8,392,193 9,002,498 Charlty funds Restrlcled funds Unreslricled funds 8,392,193 9,002,498 Total funds 8,392,193 9,002,498 The financial slalemenls were approved and aulhorlsed for Issue by the Trustee on 23 November 2023 and signed on ils behalf by. Mlchay Graham Cleaver Fulton Rankln Trustees Llmlted The notes on pages 9 10 16 form part of these financial slalements. Page 8
The Esme Mltchell Trust Notes to the Financlal Statements For the year ended 5 Aprll 2023 Accountlng policles 1.1 Basls of preparatlon of flnan¢ial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities. Statement of Re¢ommended Praclice applicable lo Gharilles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019), the Financial Reporting Standard applicable in th8 UK and Republic of Ireland IFRS 102) and the Charllies Act (Northern Ireland) 2008. The Esme Mitchell Trust meets the definition of a publlc benefit entlty under FRS 102. Assets and liabilities are initially r8cognised at historical cost or transa¢tlon value unless otherwise staled in the relevant accounting policy. 1.2 Golng concern The Trustees of The Esme Mitchell Trust have revlewed the resources available and believe that the company has adequate resources Ic continue in operational exislence for the foreseeable future, Accordingly. The Esme Mitch811 Trust continues to adapt the golng concern basis in preparing the rinancial slalements. 1.3 Income All income is recognised once the Charity has enlillement lo the income, il Is probable that the income will be received and the amount of income receivable can be measured rellably. 1.4 Expendlture Expenditure Is recognlsed once there Is a legal or constructive obligation to transfer economic benefit lo a third party, it Is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obllgation can be measured reliably. Expenditure is classlfled by activlly. Expenditure on charitable activlties is incurred on dlre¢lly undertaking the acllvllles whlch further the Charity'$ objectives, as w811 as any associated support costs. Grants payable are Charged In the year when the offer Is made except in those cases where the off8r is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subjecl to conditions which have not been mel al the year end are noted as ¢ommitment, but not a¢crved as expenditure. 1.6 Interest recelvable Interest on funds held cn deposlt is included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the inslilution with wham the funds are deposited. 1.6 Investments Fixed asset Investments are a form of financial instrument and are initially recognised al Ihelr Iran58clion cost and subsequently measured at fair value al the Balance Sheet dale, unless the value cannot be measured reliably in which case il is measured al cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl{Losses) on investments, in the Statement of Financial Aclivilies. Page 9
The Esme Mltchell Trust Notes to the Financial Statèments For the year Qnded 6 Aprll 2023 Accountlng pollcles (contlnued) 1.7 Debtors Trade and other debtors are recogn15ed al the settlement amount after any trade discounl offered. Prepaymen15 are valued al the amount prepaid nel of any trade discounts due. 1.8 Cash at bank and In hand Cash at bank and In hand includes cash and shorl-lerm highly Ilquid investments with a short malurlly of three months or less from the date of acquisition or opening of the deposit or similar account. 1.9 Llabllltles and provlslons Liabililies are recognised when there is an obligation al the Balance Sheet dale as 8 resull of a p8St event, il is probable that a transfer of econom1¢ benefit wlll be required In selllemenl, and the amount of the selllement can be estimated reliably. Liabilities are recognised al the amount that the Charity anticipates il will pay lo settle the debl or the amount It has received as advanced payments for the goods or services il musl provide. Provislons are measured at the best estimate of the amounts required to sellle the obSigalion. Where the effect of the lime value of money is malerlal, the provision is based on the present value of those amounts, discounted 81 the pre-tax discount rate that reflects the rlsk5 speclflc to Ihe liabllily. The unwlnding of the dlscount Is re¢ognls&d In the Statèment of FlnanclBI Activltles as a finance cost. 1.10 Flnanclal Instruments The Charity only has financlal assets 8nd flnanc181 Ilabllities of a klnd that qualify as baslc financial inslrumenls. Basic financial inslrumenls are initially recognised al transaction value and subsequently measured al Ihelr settlement value. 1.11 Fund accountlng General funds are unreslricled funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricled funds that have been sel aside by the Trustee for particular purposes. The aim and use of each designated fund Is Sel out in the notes lo the financial statements. Investment income, galns and losses are allocated lo Ihe appropriate fund. Investment Income Unrestrlcted funds 2023 Total funds 2023 Dividend Income received Interest received 237,339 4,041 237,339 4,041 241,380 241,380 Page10
The Esme Mltchell Trust Notes to the Flnanclal Statements For the year ended 5 Aprll 2023 Investment Incomè Icontlnuedl Unrestricted funds 2022 Total funds 2022 Dividend income received Interest received 237,828 222 237,828 222 238,050 238,050 other Incomlng rasources Unrestrlct•d funds 2023 Total funds 2023 Loan Interest Other income 1,000 13,991 1,000 13,991 14,991 14,991 Unreslricled funds 2022 Total funds 2022 Loan inler8sI Olher income 1,000 15,218 1,000 15,218 16,218 16,218 Page11
The Esme Mltchell Trust Notes to the Flnanclal Statements For the year ended 5 April 2023 Analysis of expendlture Unrestrlcted funds 2023 Total funds 2023 Charitable donations - General fund Charitable donations - Heritage fund Independanl examiner and accounting fees Ilncluding VATI Management fees 181,418 65,000 3,000 9,774 181,418 65,000 3,000 9,774 259,192 259,192 Unreslricled fund5 2022 Total funds 2022 Charllable donallon5 - General fund Charitable donations - Heritage fund Independant examiner and acGounling fees Ilncluding VATI Management fees 221,770 89,000 3,000 7,546 221,770 89,000 3,000 7,546 321,316 321,316 Trustee's remuneratlon and expenses Except for the management fee dlsclosed above and paid to the corporat8 trustee, during the year, no Trustee recelved any remuneration, expenses or other benefils12022 £NILI. Page 12
The Esme Mitchell Trust Notes to the Flnanclal Statement5 For the year ended S Aprll 2023 Flxed asset Investments Llsted investments Cost or valuatlon Al 6 April 2022 Disposals Revaluallons and realised gainsllloss8sI 8.822,466 {58,0001 1607,4841 At 5 Aprll 2023 8,156,982 Net book value At 5 April 2023 8,156,982 Al 5 April 2022 8,822,466 All of the investment Is held in the Saraslns Endowment Fund, an aulhorised unlt trust quoted on the UK Stock Exchange. Debtors 2023 2022 Due wlthlii one year Other debtors 24,850 24,000 24,850 24,000 Other debtors includes a loan of £20,000 to the Belfast Buildings Preservation Trust which is repayable on demand and on which Interest is payable at 50A per annum. Credltors: Amount8 falllng due wlthln one year 2023 2022 Grants awarded and not yet paid Accruals 48,810 3,000 116,570 3,000 61,810 119.570 Page13
The E5me Mitchell Trust Notes to the Financial Statements For the year ended 5 Aprll 2023 Statement of funds Statement of funds - current year Balance at 6 Aprll 2022 Galnsl Balance at 5 (Losses) Aprll 2023 Income Expendlture Unrestrlcted funds D88ignated funds Herllage Fund 3,925,461 109,644 {66,0001 (266,6751 3,713,430 General funds General Fund 5,077,037 146,827 {194,192) 1350,9091 4,678,763 Total Unrestrlcted funds 9,002,498 256,371 1259,1921 (607,4841 8,392,193 Page 14
The Esme Mltchell Trust Notès to the Financial Statements For the year ended 5 Aprll 2023 10. Grants made from Genèral Funds 2023 All Sel Project Annagh Social Farm CIC ArtUK Belfast Philharmonlc Society Belfast Photo Festival British Wlreless for the Blind Fund Butterfly Conservation's Constitution Cahoots Nl Careres Nl Caring Breaks Charles Wood Festival of Music & Summer School city Llfe Projects Commedia of Errors Derry W811 Woman Derrygonnelly Orange Hall Dlabeles UK Dream Holidays Dumbworld Eastside Arts Ecological Conlinuily Trust Engage With Age European Squirrel Initiallve Fighting Words Nl Future Trees Trust Gulde Dogs Haemochromalosis Help Musicians Horalio's Garden charity Livability Maiden City Soccer Marie Curie Motor Neurone Disease Association Music in Hospitals & Care Nallonal Museums Nl National Youth Choir Newry and Mourne Museum & Down County Museum Nl Deaf Sport Nl Hospice Nl versus Arthritis Northern Ireland Mixed Marriage Association Northern Lights Project 2,000 10,000 1,500 20,000 5,000 1,000 1,555 5,000 2,000 2,810 6,000 1,500 1,000 2,000 5,000 3,000 1,600 1,000 3,000 2,000 2,500 500 1,000 3,000 2,000 2,000 1,000 4,000 2,000 1,000 5,000 2,000 5,000 6,000 1,000 5,250 2,000 2,000 3,000 2,000 1,000 Page15
The Esme MItGhell Trust Notes to the Flnanclal Statements For the year ended 6 April 2023 Parkinson's UK PS Squared Queen SITeel Studios (QSSI RAMS 3,000 6,000 6,000 2,000 1,000 2,000 4,703 5,000 5,000 10,000 500 2,000 2,500 500 2,000 REACT {Reconcillalion Education and Community Training) Read for Good Relate Nl The Duncairn The John Hewlll Society The Ulster Orchestra Transport Training Board Trillick Enterprise Leisure Limited Vault Arlisl Studios Weslenders Young al Art 181,418 11. Grants made from Herltage Funds 2023 Irish Georgian Foundation Open House Festival Seacourl Prlnt Workshop Nl Ulster Archlteclural Heritage 5,000 10,000 10,000 40,000 66,000 Page 16