Charity registration number.. l 01671 The Peace People Charitable Trust Annual Report and Financial Statements for the Year Ended 31 March 2024
The Peace People Charitable Trust Contents (continued) Reference and Administrative Details Trustees, Report 2to3 Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities 6t07 Balance Sheet Notes to the Financial Statements 9t017
The Peace People Charitable Trust Reference and Administrative Details Trustees Mrs Ann Paterson Mr Kevin Toland Mrs Clare Grehan-Toland Mr Gerry Grehan 101671 Charity Registration Number Prineipal Office 224 Lisburn Road Belfast Antrim BT9 6GE Independent Examiner McKeauge Morgan & Company Independent Examiner 27 College Gardens Belfast Antrim BT9 6BS Page I
The Peace People Charitable Trust Trustees, Report The trustses present the annual report together with the financial statements of the Charity for the year ended 31 March 2024. Objeetives and activities Public benefil The Peace people continue to work to make a valuable contribution to the continuation of peace building in Northern Ireland and beyond. Our work involves International peace work and dialogue our centre of reconciliation. The Peace People also provides spaces for organisations as tenants in the Peace House building. These groups include: . The Peace Players • Al-Anon . NIGAT . Narcotics Anonymous . Refugee meetings Organisational Projects.. l. Asylum seeker5 and Refugee support & aid work. Ann Patterson our main outreach worker and Trustee managed this work. Ann meets with a group weekly and helps to support them with racism issues, housing, mental health support etc. Clare another Peace People Trustee set up remote drop off points for much needed aid for the participants. We collect monthly for refug¢s for ¢ss¢ntials of Clothing, toil¢tri¢s, food ¢t¢. Th¢ P¢ac¢ P¢opl¢ a150 donate monthly to this group. 2. Work with the Nobel Peace Centre in Oslo. This work involved detailed photos and images being provided from The Peace Peoples archives. Discussions with ex-memb¢r5. W¢ also worked c105ely with the Linen Hall Library & their website. This project also required working clos¢ly with the Ulster Museum. 3. It was a great pleasure to work with Arnelia Clarkson and Ruaidhri Maguire in developing a new ballet for Belfast in early August this year called "White Doves" This ballet was based on th¢ story and legacy of the Th¢ Peace People. Thi5 was rolled out and perfomied to sold out crowds in the Mac theatre. 4. Peace People Peace meeting5. Gatherings happen at the peace house every two months. These meetings are set up to discuss matters of emergency or concern. Topi5 and discussions have includ¢d the following areas.. Palestine . Myanmar • Wars . Refiigee work/support Protests/Marches for various peace protest We also throughout the year facilitate various groups from schoo15 and universities in the peace house. At these meetings the groups will hear about The peace people history and work. The trustees conf]rni that they have complied with the public interest statutory guidance issued under section 4 of the Charities (Northern Ireland) Act 2008. Page 2
The Peace People Charitable Trust Trustees, Report (continued) Financial review Pollcy on reserves The charity has no fornial policy on Teserves. It creates reserve5 as required for specific projects. If ndS were materially in deficit at any time steps would b¢ tsk¢n to eliminate the deficit, normally by a special appeal to existing donors. Structureg governance and management Nalure ofgoverniiig documenl The Peace People Charitable Trust is a charity constituted by a Trust Deed and is recognised as a charity by the Charity Commission (NI), number NIC 101671 Our constitution Tequires we have 3 trustees and no more than 9 trustees. Reeruilmenl andappoinlmenl oflrustees All trustees are given guidelines on their responsibilities and on how meetings are to be conducted. These guidelines are in written fonn and each of the trustees have a copy. Training is by active work within th¢ committ¢¢ and all overseen by the Cliairy)erson. All long terni members of The Peace People Charitable Trust, who are over the age of18 and have over one years of voluntary service within the charity are eligible to be trustees. Each prospective trustee serves for a probation year to assess their commitment and if suitable th¢n is invited to join as a trustee. The trustees and positions of trustees are elected as part of the Annual GeneTal Meeting Arrangemenlsfor setting key managemeiiipersoiinel remiinerallon One trustee is rernunerated for administrative services supplied. All other trustees are voluntary. Organisalionnl slruclure The trustees are responsible for the day to day management of the charity. Trustees are responsible for making decisions on matters of day to day running of the charity, fijture projects and all matters of concern to the charity. The trustees also make decisions on how ndS are allocated and on bills to be paid. The trustees meet each twice a year. The annual report wa5 approved by the trustees of the thlty on 22 January 2025 and signed on its behalf by: Mr Gerry Gr¢han Trustee Page 3
The Peace People Charitable Trust Statement of Trustees, Responsibilities The trustees are responsible for preparing the tSleeS, report and the fmancial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare fmancial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these fmancial statements, the truste¢s are required ti).. select suitable accounting policies and then apply them consistently. obserye the methods and principles in the Charities SORP. make judgements and estimates that are Teasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the fanCial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irr¢gulariti¢s. The trustees are responsible for the maintenance and integrity of the corporate and financial inforn]ation included on the charitable cornpanys Nvebsit¢. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the trustees of the charity on 22 January 2025 and signed on its behalf by: aoioqJ Mr Gedry Grehan Truste Page 4
The Peace People Charitable Trust Independent Examiner's Report to the trustees of The Peace People Charitable Trust I report to the trustees on my examination of the accounts of The Peace Peopl¢ Charitable Trust for the year ended 31 March 2024. Responsibilities and basis of report As the charity trnstees of The Peace People Charitable Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2009 ('the Act,). I report in respect of my examination of the The Peace People Charitable Trust's accounts carried out under section 50 of the 2009 Act and in carying out my examination I have followed all the applicable Directions given by the Authority under section 50(8) of the Act. Independent examiner's statement l. accounting records were not kept in respect of The Peace People Charitable Trust as required by section 47 of the Act. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements concerning th¢ forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement diat the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in Ihis report in order to enable a proper understanding of the accounts to be reached. Terence Hollywood Independent Examiner Chartered Accountants Ireland 27 College Gardens Belfast Antrim BT9 6BS 22 January 2025 Page 5
The Peace People Charitable Trust Statement of Financial Activities for the Year Ended 31 Mareh 2024 Unrestricted funds Total 2024 Note Income and Endowments from: Donations and legacies Investment income Other income 500 507 30,259 500 507 30,259 Total income 31,266 31,266 Expenditure on: Raising fi]nds Charitable activities (31,232) (5,285) (31,232) (5,285) Total expenditure (36,517) (36,51D N¢t expenditure (5,251 (5,251) Net movement in fimds (5,251) (5,251) Reconciliation of funds Total funds brought forward 50,551 50,551 Total fimds carried forward 14 45.300 Unrestricted funds 45,300 Total 2023 Note Income and Endowments from: Donations and legacies Investment income Other incoine 24,461 126 26,256 24,461 126 26,256 Total income 50,843 50,843 Expenditure on: Raising funds Charitable activities (29,583) (2,685 (29,583) (2.685) Total expenditure 32.268) (32,268 Net income 18,575 18.575 Net movement in lld$ 18,575 18,575 Reconciliation of funds Total funds brought forward Total funds caTried forward 31.976 31,976 14 50,551 50,551 The notes on pages 9 to 17 form an integral part of these financial statements. Page 6
The Peace People Charitable Trust Statement of Finaneial Activities for the Year Ended 31 March 2024 (continued) All of the charity's activities derive from continuing operdtions during the above two periods. The funds breakdown for 2023 is shown in note 14. The notes on pages 9 to 17 forni an integral part of these financial statemenls. Page 7
The Peace People Charitable Trust (Registration number: 101671) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets 16,153 15,966 Current assets Cash at bank and in hand 12 34,427 37,439 Creditors: Amounts falling due within one year Net current assets 13 (5,280 (2,854) 29,147 34,585 Net assels 45,300 50.551 Funds of the eharity.. Unrestricted income funds Unrestricted funds 45,300 50,551 Total funds 14 45,300 50.551 The financial statements on pages 6 to 17 were approved by th¢ trustees, and authorised for issu¢ on 22 January 2025 and signed on their behalf by: MrGe Truste Grehan The notes on pages 9 to 17 fonn an integral part of these finaiicial statements. Page 8
The Peace People Charitable Trust Notes to the Finaneial Statements for the Year Ended 31 March 2024 l Accounting policies Statement of eomplianee The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis ofpreparation The Peace People Charitable Trust meets the definition of a public benefit entlty under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. Going eoncern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Income and endowments Voluntary income including donations. gifts. legacies and grants that provide core ndIng or are of a general nature Ès recognised when the ¢harity has enlitlement to the income, it is probable that the llicome will be received and the amount can be measured with suffIcient reliability. Donalioiis aiid legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Inveslmenl inconte Dividends are recognised once the dividend has been declared and notification has been received of Ihe dividend due. Expcnditure All eypendilure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocat¢d to the applicable expenditure heading that aggregate similar costs to that Category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time speiit, and depreciation Charges allocated on the portion of the asset's use. Other SUPPOIt costs are allocated based on the spread of staff costs. Ralsingfuiids These are costs incurr¢d in attracting voluntary income. the management of investtnents and those incurred in trading activities that raise funds. Page 9
The Peace People Charitable Trust Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Support costs Support costs include central functions and have been allocated to actlvlty cost categories on a basis consistent with the use of resources, for example, allocating propety costs by floor areas, or per capita, staff costs by the tim¢ speiit and other costs by their usage. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trnstee5 meetings and reimbwsed expenses. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it Aneets tlie defmition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempl from taxation in respect of income or Gapital gains received within categories Covered b), Chapier 3 Part i i of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the ext¢nt that sucli income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individiial fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent (Iccumulated dcpreciation and subsequent accumulated impairment losses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over tlieir expected useful economic life as follows: Cash and cash equivnlents Ca h and cash equivalents comprise cash on hand and call dep051ts, and other short-tern) highly liquid investments that ar¢ readily conv¢rtible to a known amount of cash and are subject to an insignificant risk of change in valiie. Borroivings Interest-bearing borroivings are initially recorded at fair value, net of transaction costs. Interest-bearing borrom'ings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activitie5 over the i)ei'iod of the relevant bo01¥1ng. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charge5. Borrowings are classified as current liabilities iinless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Fund strueture Unrestricted income funds ate geiieral funds that are available for use at the trustees discretion in fiheraljce ofthe objectives of the charity. Pag¢ 10
The Peace People Charitable Trust Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Financial instruments Classlfleation Financial assets and financial liabilities are recognised when the charity becomes a party to the COntracal pi'ovisions of the instrument. Financial liabilities and equity instruments are classified according to the substsnce of the contractual aangernents ent¢red into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recognilion andmeasuremenl All financial assets and liabilities are initially measured at transaction price (including transacti} co*ts), except for those financial assets classified as at fail value through profit or loss, which are initially measured at fair value (wliich is nornially th¢ transaction price excluding transaction costs), unless the angernent constitutes a financing transaction. If an arrangement constitut¢s a financing transaction, the financial asset or financial liability is measur¢d at the present value of the tUre payments discounted at a market rate of intei'est for a similar debt insknument. FinanLial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable light to set off the recognised amounts and the charity intends ¢ither to s¢ttle on a net basis, or to realise the asset and settle the liability simultaneously. Financial asscts are derecognised ivheii and only when a) the contractual rigl)tS to tlie cash flows from the financial asset cxpir¢ or <lre settl¢d, b) the charity transfers to anothei. paty substantially all of the risk.s aiid i." ivards of owiiership of tbe financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ommersliip, has transfeed control of the asset to another paty. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Pagell
The Peace People Charitable Trust Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Debt inslrumenls Debt instruments which meet the following conditions are subsequently measur¢d at amortised cost Using the effective interest method.. (a) The contractual return to the holder is (i) a fixed amount. (li) a positive fixed rate or a positive variable rate. or (iii) a combination of a positive or a negative fjxed rate and a positive variable rate. (b) The contract may provide for repayments of the principal or the rettrn to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the CURTency in ivhioh the debt instrument is denominated, provided such links are not leveraged. (c) The contract may provide for a detern]inable variation of the return to the holder during the life of the llistnllnent, provided that (i) the new rate satisfIes condition (a) and the variation is not contingent on tUre events other tlian ( l) a Change of a contractual variable rate. (2) to protect the holder against credit deterioratioi) of the issuer. (3) changes in leiiies applied by a central bank or arising from changes in relevant taxation or law. or (ii) the new rate is a market rate of interest and satisfies condition (a). (d) There is no contractual provision that could, by its tern)s, result in the llolder losing the principal amount or any interest attributable to th¢ current period or prior periods. (e) Contractual provisions that perniit the issuer to Prepay a debt instrument or pern)it the holdei. to put it back to the issuer before maturity are not contingent on futtwe events, otlier than to protect the holder against the credlt deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arisino from changes in relevant taxation or law. (fj Contractual provisions may perniit the extension of the terni of the debt instrument, provided that the reWrn to the holder and any othcr contractual provisions applicable during the extended terni satisfy the conditions of paragraphs (a) to (c). Debt instruments that are classified as payable or receivable within one year on initial recognition and ivhich mcet the above ronditiono are measured at the undiscounted amount of the casli or other consideration expected to be paid or rcceived, net of impairnient. With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. Commitments to rnake and receive loans which meet the conditions mentioned above are measiwed at cost (Ivhich may b¢ nil) less impairment. Inveslmenls Investments in non-convertible preference shares and non-puttable ordinary or preference shares (Ivhere shares are publicly traded or their fair value is reliably measurable) are measured at fair value througli profjt or loss. Where fair value nn0t be measured reliably> investments are measured at cost less impairnient. Investments in siibsidiaries and associates are measured at cost less impaimient. for investments in subsidiarie5 acquired for consideration including the issue of shares qualifying for merger relief, cost is mea51wed by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. Pagc 12
The Peace People Charitable Trust Notes to the Financial Statements for the Year Ei nded 31 March 2024 (continued) Derivallvefinanclal inslrumeiits The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative fmancial instruments for speculative purposes. Derivatives are initially r¢cognised at fair value at the date a derivative contract is eiitered into and are subsequently remeasuTed to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivallve is designated and effective as a hedging instsvmenL in which event thc. timing of the recognition in statement of financial activities depends on the nature of the hedge relationsliip. Falr value measuremeiit The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices ar¢ unavailable, the price of a recent transaction for an idenlical asset provides evidence of fair valiie as long there has not been a si.onificant change iii economic circumstances or a significant lapse of time since the transaclion took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique. 2 Income from donalion5 and legaele$ Unr¢stricted runds General Tot21 funds Donations and leoacies. Donations from individuals 500 500 Totsl for 2024 500 500 Total for 20?3 24,461 24,461 3 Investment ineome Unrestricted funds General Total funds Interest receivable and similar income; Interest receivable on bank deposits I'otal for 2024 507 507 507 507 Total for 2023 126 126 Page 13
The Peace People Charitable Trust Note.s to the Financial Statements for the Year Ended 31 Marcb 2024 (continued) 4 Other income Unrestricted funds General Tolal funds Rental income 30,259 30,259 Total for 2024 30,259 30,259 Total for 2023 26,256 26,256 5 Expenditure on raising fund5 a) Investment management costs Unrestrieted funds General Total funds Note Allocated support costs Total for 2024 25,219 25,219 25.219 25,219 Total for 20?3 17,506 17.506 6 Expenditure on charilable aetivities Unrestricted runds General Total I'ullds Note GoVernGe costs 5,285 5,28) Total for 2023 2,685 2,685 Page 14
The Peace People Charitable Trust Notes to the Financial Statements for the Year Ei nded 31 March 2024 (continued) 7 Analysis ofgovernanee and support costs Covernanee costs Unrestrieted runds General Total fuiids Other governance costs Total for 2024 5,285 5.28.fj 5,285 5,285 Total for 2023 2,685 2,685 8 Trustees remuneration and expenses During the year the charity made the following transactions with trnst¢es'. Mrs Clare Grehan-Toland Mrs Clare Gr¢han-Toland received remuneration of £6,013 (2023.- £11,683) during tli¢ year, Mr Gerry Grehan £342 (2023: £665) ot expenses were reimbursed to Mr Gerry Grehan during the year. 9 Staff Costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs during the year were: Wages and salaries 6.013 12.077 No employee received emoluments of more than £60,000 during the year Page 15
The Peace People Charitable Trust Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 10 Taxation The charity is a registered charity and is therefore exempt from taxation. 11 Tangible fixed assets Land and buildings Furniture and equipment Total Cost At l April 2023 Additions 86,727 32,147 1,200 118,874 1,200 At 31 March 2024 86,727 33,347 120,074 Depreciation At l April 2023 Charge for the year At 31 March 2024 72,718 280 30,190 733 102,908 1.013 72.998 30.923 103,921 Net book value At 31 March 2024 13,729 2,424 16,153 At 31 March 2023 14,009 1,957 15,966 12 Cash and cash equivalents 2024 2023 Cash at bank 34,427 37.439 13 Creditors: arnounts falling due within one year 2024 2023 Ac¥ruals 5,280 2,854 Page 16
The Peaee People Charitable Trust Notes to the Financial Statements for the Year Ended 31 March 2024 (eontinued) 14 Funds Balanee at i April 2023 Ineoming resources Resources expended Balance at 31 March 2024 Unrestricted fiinds General 50,551 31,266 (36,517) 45,300 Balanee at I April 2022 Incoming resources Resources expended Ba13nee at 31 March 2023 Unrestricted fund5 General 31,976 50,843 (32,268 50,551 15 Related party transactions Except for the transactions recorded in Note 8, there were no other disclosable related paty transactions in the year. Page 17