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← County Trust Limited

2025-04-30-accounts

Charity Registration No ~~.~~ NIC101790

Company Registration No ~~.~~ NI026238 (Northern Ireland)

COUNTY TRUST LIMITED (a company limited by guarantee and not having a share capital)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

COUNTY TRUST LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

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|||||| |---|---|---|---|---| |Trustees|Mr|B|Jones| |Mr|||Jones| |Mr|G|Jones| |Secretary|Mr|B|Jones| |Charity|number|NIC101790| |Company|number|NI026238| |Registered|office|A4|Portora|Wharf| |Queen|Street| |Enniskillen| |Co|Fermanagh| |BT74|7PW| |Auditor|Moore|(N.I.)|LLP| |32|Lodge|Road| |Coleraine| |Co|Londonderry| |BT52|1NB| |Bankers|Santander| |298|Deansgate| |Manchester| |M3|4HH| |Bank|of|Ireland| |International|Department| |1|Donegall|Square|South| |Belfast| |BT1|5LR| |Solicitors|McFarland,|Graham,|McCombe| |41|-|43|Bachelors|Walk| |Lisburn| |BT28|1XN|

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COUNTY TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 30 APRIL 2025

The Trustees present their annual report and financial statements for the year ended 30 April 2025 ~~.~~

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019) ~~.~~

Aims, objectives and activities

1 ~~.~~ The advancement of the Christian Religion

  1. The relief of poverty

3 ~~.~~ The relief of hunger 4 ~~.~~ The relief of sickness

  1. The advancement of education and medical knowledge and research

1 ~~.~~ County Trust operates a centre known as ‘The Stables’ which includes a meeting/function room with a kitchen ~~.~~ There are also two townhouses attached ~~.~~ The direct benefit flowing from the meeting/function room is that it provides facilities to church organisations who in turn provide improvement of spiritual and emotional welfare to people across Northern Ireland. The benefit flowing from the townhouse is the provision of accommodation for a person who could not otherwise afford it ~~.~~ County Trust also makes grants of money to evangelists, missionaries, individuals and organisations promoting the Christian religion throughout Northern Ireland and worldwide ~~.~~ The direct benefits flowing from this is the support of those who in turn provide improvement of physical, mental and spiritual welfare to people across Northern Ireland and the rest of the world.

  1. County Trust makes grants of money and provides necessary items to those who cannot afford them. County Trust also makes grants to organisations working to relieve poverty worldwide such as Drop-inn ~~.~~ The direct benefits flowing from this is the relief of poverty of people to whom such grants are made ~~.~~ County Trust’s intended beneficiaries are people living worldwide.

3 ~~.~~ County Trust makes grants of money to organisations working to relieve hunger worldwide ~~.~~ The direct benefits flowing from this is the support of the organisations to which such grants are made in turn allowing them to pursue their work with people across the world. County Trust’s intended beneficiaries are people living worldwide ~~.~~

  1. County Trust seeks to provide support to sick and disabled persons generally and also to relieve mental and physical sickness of persons suffering as a result of bereavement, loss, family breakdown, addiction, redundancy or financial hardship and promote their physical, mental and spiritual welfare by providing grants of money to those people and to other organisations involved in counselling or treating those people and through the provision of equipment to organisations involved in counselling or treating those people ~~.~~ County Trust makes the Stables available to organisations working with people suffering from such disability. County Trust makes the second townhouse available as free halfway accommodation to those who are seeking to overcome addiction ~~.~~ The direct benefits flowing from this include the reduction of symptoms, stress and anxiety to people who are suffering from illness, disability, bereavement, loss, family breakdown, addiction, redundancy or financial hardship and members of their family. The beneficiaries of this purpose are mainly people living in the Fermanagh area of Northern Ireland ~~.~~

  2. County Trust makes grants of money and provides equipment in support of education ~~.~~ For example through awarding scholarships or providing equipment to schools in underdeveloped countries. The direct benefits flowing from this is the advancement of education of people worldwide attending recognised educational institutions; particularly those who may not otherwise be able to afford such education enabling people to participate more fully in society ~~.~~ County Trust’s intended beneficiaries are people living worldwide. It is not intended that such grants will be made to Trustees though it is possible that equipment, at some point in the future, may be provided or money donated to a school that members of a Trustee’s extended family may then attend. This benefit would be incidental and necessary to ensure that the benefit is provided to the beneficiaries ~~.~~ These benefits are demonstrable from feedback and reports received from those evangelists, missionaries, individuals and organisations who have been helped. No harm arises from the meeting/function room or house being made available or from grants being made ~~.~~ No private benefit arises as it is not intended that any grant will be made to the Trustees of County Trust.

~~-~~ 2 ~~-~~

COUNTY TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2025

Financial review

The results for the year are set out on page 10. The company returned net expenditure resources for the year of £3,510,250 (2024 ~~-~~ (£647,119)) ~~.~~ At 30th April 2025 the total funds of the charity amounted to £4,814,873 (2024 ~~-~~ £8,325,123) comprising unrestricted income funds of £370,827 (2024 ~~-~~ £72,551).

In the previous financial year the property at Lackaboy Rd, Enniskillen was sold to Fermanagh Christian Fellowship under the terms of the existing lease agreement dated 9 July 2018. County Trust Ltd provided a commercial loan to Fermanagh Christian Fellowship to accommodate the purchase at 2 ~~.~~ 5% above Bank of England base rate.

Reserves policy

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Risk Management

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks ~~.~~ The Trustees maintain a written risk register in order to document and review identified risks ~~.~~

Plans for future periods

The Charity plans to continue carrying out those activities required to further its objectives of: 1 ~~.~~ The advancement of the Christian Religion

  1. The relief of poverty

  2. The relief of hunger

  3. The relief of sickness

5 ~~.~~ The advancement of education and medical knowledge and research

Structure, governance and management

The charitable company is a company limited by guarantee and is governed by its Memorandum and Articles of Association ~~.~~

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr B Jones Mr I Jones Mr G Jones

Recruitment and appointment of trustees

Under the requirements of the Memorandum and Articles of Association, the company may from time to time in general meetings increase or decrease the number of trustees and determine in what rotation such increased or reduced number shall go out of office and make the appointments necessary to effect any such increase ~~.~~

Organisational structure

The management of the Charity is the responsibility of the Trustees who are elected under the terms of the Memorandum and Articles of Association ~~.~~

None of the Trustees has any beneficial interest in the Charity ~~.~~ All of the Trustees are members of the Charity and guarantee to contribute a maximum of £10 in the event of a winding up.

Induction and training of trustees

Trustee members are familiar with the practical role of the charity ~~.~~ New trustees will be encouraged to attend appropriate external training events to help facilitate the undertaking of their role ~~.~~

~~-~~ 3 ~~-~~

|

COUNTY TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

Statement of Trustees’ responsibilities

The Trustees, who are also the directors of County Trust Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with the company's articles, a resolution proposing that Moore (N.1.) LLP be reappointed as auditor of the company will be put at a General Meeting.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

Disclosure of information to auditor

So far as each person who wasa Trustee at the date of approving this report is aware, there is no relevant audit information of which the Charity’s auditor is unaware. Additionally, the Trustees individually have taken all the necessary steps that they ought to have taken as Trustees in order to make themselves aware of all relevant audit information and to establish that the Charity’s auditor is aware of that information.

The Trustees' report was approved by the Board of Trustees.

Mr | Jones Trustee

18 November 2025

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COUNTY TRUST LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COUNTY TRUST LIMITED

Opinion

We have audited the financial statements of County Trust Limited (the ‘charitable company’) for the year ended 30 April 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report ~~.~~ We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements ~~.~~ We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion ~~.~~

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue ~~.~~

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon ~~.~~ The Trustees are responsible for the other information contained within the annual report ~~.~~ Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

~~-~~ 5 ~~-~~

COUNTY TRUST LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF COUNTY TRUST LIMITED

Matters on which we are required to report by exception

In the light of the Knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the Trustees’ report.

Responsibilities of Trustees

As explained more fully in the statement of Trustees’ responsibilities, the Trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so ~~.~~

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion ~~.~~ Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements ~~.~~

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below ~~.~~

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit ~~.~~ However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company ~~.~~

Based on our understanding of the charitable company and its operating environment, we determined that the most significant frameworks which have a direct impact on the preparation of the financial statements are those related to the reporting framework, (FRS 102, the Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, the Charity SORP and the Companies Act 2006) ~~.~~ Compliance with these laws and regulations was assessed as part of our procedures ~~.~~

Other laws and regulations of which non ~~-~~ compliance may have a material effect on the financial statements, e ~~.~~ g ~~.~~ through fines or litigation, were identified such as regulations in relation to employment law ~~.~~ Our required procedures in these areas are limited to inquiry of trustees and other management and inspection of any regulatory or legal correspondence ~~.~~ These limited procedures did not identify any actual or suspected non ~~-c~~ ompliance ~~.~~

~~-~~ 6 ~~-~~

COUNTY TRUST LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF COUNTY TRUST LIMITED

We assessed the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur, including evaluating management's incentives and opportunities to manage earnings or influence the reported results ~~.~~ From the results of our assessment, we determined that the principal risks of fraud relate to posting inappropriate journal entries and use of charity funds for purposes outside of restrictions imposed by the donor. In common with all audits under ISAs (UK), we are required to perform specific procedures to respond to the risk of management override ~~.~~

Audit response to risks identified

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit ~~.~~ Audit procedures performed by the engagement team included:

We communicated relevant laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non ~~-~~ compliance with laws and regulations throughout the audit. There are inherent limitations in the audit procedures described above and the further removed non ~~-~~ compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it ~~.~~ Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment through collusion, forgery, intentional omissions, misrepresentations or the override of internal control.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.f ~~r~~ c. ~~o~~ rg. ~~u~~ k/auditorsresponsibilities. This description forms part of our auditor's report ~~.~~

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 ~~.~~ Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose ~~.~~ To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed ~~.~~

~~-~~ 7 ~~-~~

COUNTY TRUST LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF COUNTY TRUST LIMITED

Dr RI Peters Gallagher OBE FCA For and on behalf of Moore (N.1.) LLP, Statutory Auditor Chartered Accountants 32 Lodge Road Coleraine Co Londonderry BT52 1NB 18 November 2025

eee -8-

COUNTY TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 APRIL 2025

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Charitable activities 3 301,315 (38,851)
Investments 4 69,512 111,402
Total income 370,827 72,551
Expenditure on:
Charitable activities 5 3,881,077 719,670
Total expenditure 3,881,077 719,670
Net expenditure and movement in funds (3,510,250) (647,119)
Reconciliation offunds:
Fund balances at 1 May 2024 8,325,123 8,972,242
Fund balances at30April2025 4,814,873 8,325,123

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities ~~.~~

The statement of financial activities also complies with the requirement for an income and expenditure account under the Companies Act 2006.

~~-~~ 9 ~~-~~

COUNTY TRUST LIMITED

BALANCE SHEET

AS AT 30 APRIL 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 12 257,644 263,973
Investment property 13 3,750,000 3,750,000
4,007,644 4,013,973
Current assets
Debtors falling due afterone year 14 216,133 275,842
Debtors falling due within one year 14 100,330 98,934
Cash at bank and in hand 567,389 4,162,633
883,852 4,537,409
Creditors: amounts falling due within 15
one year (76,623) (226,259)
Net currentassets 807,229 4,311,150
Total assets less current liabilities 4,814,873 8,325,123
The funds ofthe charitable company
Unrestricted funds 17 4,814,873 8,325,123
4,814,873 8,325,123

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 18 November 2025

Mr | Jones Trustee

Company registration number NI026238 (Northern Ireland)

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COUNTY TRUST LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 APRIL 2025

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|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Notes|£|£|£|£| |Cash|flows|from|operating|activities| |Cash|absorbed|by|operations|20|(3,664,300)|(1,094,683)| |Investing|activities| |Purchase|of tangible|fixed|assets|(456)|-| |Proceeds|on|disposal|of|investment| |property|:|500,000| |Interest|received|69,512|111,402| |Net|cash|generated|from|investing| |activities|69,056|611,402| |Net|cash|used|in|financing|activities|-|-| |Net|decrease|in|cash|and|cash|equivalents|(3,595,244)|(483,281)| |Cash|and|cash|equivalents|at|beginning|of year|4,162,633|4,645,914| |Cash|and|cash|equivalents|at end|of year|567,389|4,162,633|

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~~-~~ 1 ~~-~~

COUNTY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

Charity information

County Trust Limited is a private company limited by guarantee incorporated in Northern Ireland ~~.~~ The registered office is A4 Portora Wharf, Queen Street, Enniskillen, Co Fermanagh, BT74 7PW.

The financial statements have been prepared in accordance with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" ~~.~~ The charitable company is a Public Benefit Entity as defined by FRS 102 ~~.~~

The financial statements are prepared in sterling, which is the functional currency of the charitable company ~~.~~ Monetary amounts in these financial statements are rounded to the nearest £ ~~.~~

The principal accounting policies adopted are set out below ~~.~~

1 ~~.~~ 2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future ~~.~~ The Trustees continue to adopt the going concern basis of accounting in preparing the financial statements ~~.~~

1 ~~.~~ 3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives ~~.~~

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used ~~.~~ The purposes and uses of the restricted funds are set out in the notes to the financial statements ~~.~~

1 ~~.~~ 4 Income

All incoming resources are included in the statement of financial activities when the Charitable Company is entitled to the income and the amount can be quantified with reasonable accuracy and there is sufficient certainty that receipt of the income is considered probable ~~.~~ The following specific policies are applied to particular categories of income.

Investment income is included when receivable.

Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract or where entitlement to grant funding is subject to specific performance conditions ~~.~~ Grant income included in this category provides funding to support programme activities and is recognised where the entitlement, certainty of receipt and amount can be measured with sufficient reliability ~~.~~

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably ~~.~~

Website

33% Straight line

1 ~~.~~ 6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses ~~.~~

~~-~~ 12 ~~-~~

COUNTY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2025

(Continued)

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% Straight line Fixtures and fittings 15% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1 ~~.7~~ . Investment property Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss ~~.~~

1 ~~.~~ 8 Impairment of fixed assets

At each reporting end date, the charitable company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1 ~~.~~ 9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short ~~-~~ term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1 ~~.~~ 10 Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments ~~.~~

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument ~~.~~

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously ~~.~~

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised ~~.~~

~~-~~ 13 ~~-~~

COUNTY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest ~~.~~ Financial liabilities classified as payable within one year are not amortised ~~.~~

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method ~~.~~

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers ~~.~~ Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non ~~-c~~ urrent liabilities ~~.~~ Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method ~~.~~

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

1 ~~.~~ 11 Taxation

The company is a charity and is recognised by HM Revenue & Customs under the charity tax reference XN88600. As a result there is no liability to taxation on any of its income.

1 ~~.~~ 12 Employee benefits

Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits ~~.~~

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources ~~.~~ The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant ~~.~~ Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis ~~.~~ Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

~~-~~ 14 ~~-~~

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COUNTY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2025

5 Expenditure on charitable activities

Charitable
Charitable		 Charitable
Charitable		 Charitable
Charitable		 Charitable
Charitable		 Charitable
Charitable		 Charitable
Charitable		 Charitable
Charitable		 Charitable
Charitable		 Charitable
Charitable		 Charitable
Charitable		 Charitable
Charitable
activities
activities
2025 2024
£ £
Direct costs
Staff costs 34,840
35,495
Depreciation and impairment 6,786 6,857
Rates (29,441)
249,366
Insurance 78,843
70,221
Light and heat 114,085
71,956
Repairs and maintenance 52,728
35,515
Advertising 675 ~~-~~
Bank charges 3,144 2,110
Sundry expenses 9,884
10,774
Charitable donations 73,674
135,628
Rental property expenses 229,271
33,125
Profit or loss on sale of investment propety ~~-~~
(50,000)
Accountancy 1,385 ~~-~~
575,874
601,047
Share ofsupport and governance costs (see note 6)
Governance 3,305,203
118,623
3,881,077
719,670
Analysis by fund
Unrestricted funds 3,881,077
719,670
Arates overpayment refund of£220,550 £220,550 was received during the year~~.~~
6
Support		 costs allocated to activities
2025 2024
£ £
Governance costs 3,305,203
118,623
Analysed between:
Charitable activities 3,305,203
118,623
2025 2024
Governance costs comprise: £ £
Audit fees 3,698 3,776
Legal and professional 3,301,505
114,847
3,305,203
118,623

~~-~~ 16 ~~-~~

COUNTY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2025

7 Net movement in funds

Net movement Net movement Net movement in funds in funds in funds in funds in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation ofowned tangible fixed assets 6,786 6,839
Amortisationofintangibleassets ~~-~~ 18

8 Trustees

None of the Trustees received any remuneration or benefits from the Charitable Company during the year.

9 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
2 2
Employment costs 2025 2024
£ £
Wages and salaries 34,391 35,045
Other pension costs 449 450
34,840 35,495

There were no employees whose annual remuneration was more than £60,000.

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 ‘Intangible fixed assets

Website Website
£
Cost
At 1 May 2024 and 30April 2025 1,800
Amortisation and impairment
At 1 May 2024 and 30April 2025 1,800
Carrying amount
At 30April 2025 ~~-~~
At30April 2024 ~~-~~

~~-~~ 17 ~~-~~

COUNTY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

12 Tangible fixed assets

Freehold land Freehold land Freehold land Fixtures and Total
and buildings fittings
£ £ £
Cost
At 1 May 2024 301,639 23,372 325,011
Additions ~~-~~ 456 456
At 30April April 2025 301,639 23,828 325,467
Depreciation and impairment
At 1 May 2024 42,230 18,807 61,037
Depreciation charged in the year 6,033 753 6,786
At 30April April 2025 48,263 19,560 67,823
Carrying amount
At 30April April 2025 253,376 4,268 257,644
At 30April April 2024 259,409 4,564 263,973
13
Investment property
2025
£
Fair value
At 1 May 2024and 30 April2025 3,750,000

Investment property comprises premises at 21 Townhall St, Enniskillen, BT74 7BD and Barclaycard House, Massey Road, Thornaby, Stockton ~~-~~ on ~~-T~~ ees, TS17 6EX ~~.~~

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 30 April 2021 by the Trustees ~~.~~ The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties ~~.~~

14
Debtors		 14
Debtors
2025 2024
Amounts falling due within one year: £ £
Other debtors 100,330 98,934
2025 2024
Amounts falling due after more than one year:
£		 £
Other debtors 216,133 275,842
Totaldebtors 316,463 374,776

~~-~~ 18 ~~-~~

COUNTY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2025

15 Creditors: amounts falling due within one year

2025 2024
£ £
Other creditors 67,923 221,107
Accruals 8,700 5,152
76,623 226,259
16
Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Chargetoprofitorlossinrespectofdefinedcontributionschemes
449		 450

The charitable company operates a defined contribution pension scheme for all qualifying employees ~~.~~ The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes ~~.~~

At 1 May 2024 Incoming
Resources		 Incoming
Resources		 Incoming
Resources		 At 30 April At 30 April At 30 April
resources
expended		 2025
£ £
£		 £
General funds 8,325,123 370,827
(3,881,077)		 4,814,873
Previous year: At 1 May 2023 Incoming
Resources’		 At 30 April
resources
expended		 2024
£ £
£		 £
General funds 8,972,242 72,551
(719,670)		 8,325,123
Analysis of net assets between funds
Unrestricted
funds
2025
£
At 30 April 2025:
Tangible assets 257,644
Investment properties 3,750,000
Current assets/(liabilities) 807,229
4,814,873

18 Analysis of net assets between funds

~~-~~ 19 ~~-~~

COUNTY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2025

18 Analysis of net assets between funds

(Continued)

Unrestricted Unrestricted
funds
2024
£
At 30 April 2024:
Tangible assets 263,973
Investment properties 3,750,000
Current assets/(liabilities) 4,311,150
8,325,123

19 Related party transactions

Transactions with related parties

During the year the charitable company entered into the following transactions with related parties:

Included within repairs and maintenance for the year is £19,957 (2024: £19,584) to B.I.G ~~.~~ Contracts Limited, a company owned by the Trustees of Country Trust Limited. These costs relate to work carried out on the Stables and the purchase of materials. The balance outstanding at the year end and included in other creditors is £Nil (2024: £Nil).

Included within legal and professional for the year is £30,000 (2024: £24,000) to B.I.G ~~.~~ Contracts Limited, a company owned by the Trustees of Country Trust Limited ~~.~~ These costs relate to project management fees in relation to the Barclaycard House refurbishments ~~.~~ The balance outstanding at the year end and included in other creditors is ENil (2024: ENil).

Included within charitable donations for the year is £2,000 (2024: £8,000) to Sow 2 Reap Trust, a charity which lan Jones is a Trustee. The balance outstanding at the year end and included in other creditors is £Nil (2024: ENil).

Included within wages and salaries for the year is £20,000 (2024: £20,000) to a sister of the Trustees ~~.~~ These costs relate to remuneration for her services as a welfare officer. The balance outstanding at the year end and included in other creditors is ENil (2024: E£Nil) ~~.~~

~~-~~ 20 ~~-~~

COUNTY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2025

19 Related party transactions

(Continued)

Included within rental income for the year is £Nil (2024: ~~-~~ £179,999) from Fermanagh Christian Fellowship, a charity which lan Jones is a Trustee ~~.~~ The rental income relates to Lackaboy Property ~~.~~ The balance outstanding at the year end and included in other debtors is ENil (2024: ENil).

Included within profit on sale of investment property for the year is ENil (2024: ~~-~~ £50,000) relating to the sale of Lackaboy Property to Fermanagh Christian Fellowship, a charity which lan Jones is a Trustee. The sale of the property includes a loan agreement. The balance outstanding at the year end and included within other debtors is £262,333 (2024: £318,192) ~~.~~

20 Cash generated from operations

Cash Cash generated from generated from generated from generated from generated from generated from generated from generated from generated from generated from generated from generated from operations operations operations operations operations operations 2025 2024
£ £
Deficit for the year (3,510,250) (647,119)
Adjustments for:
Investment income recognised in statement offinancial activities
(69,512)		 (111,402)
Amortisation and impairment of intangible assets ~~-~~ 18
Depreciation and impairment oftangible tangible fixed assets 6,786 6,839
Movements in working capital:
Decrease/(increase) in debtors 58,313 (319,436)
(Decrease) in creditors (149,636) (23,583)
Cash absorbedby operations (3,664,299) (1,094,683)
  1. ~+Analysis of changes in net funds The charitable company had no material debt during the year.

~~-~~ 21-