The House of WIc-Ryn Trust Llmtted IA Company Limited by Guarantee) statement of financial activities (incorporating income and expendlture account) For the Year Ended 30 June 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies other income 3.239.526 55,287 3.239.526 55,287 165,933 51,669 Total Income 3.294.813 3,294,813 217,602 Expendlture on.. Charitable activities 1.513,927 1.513,927 1.154.775 Total expenditure 1.513,927 1,513.927 1,154,775 Net gains on investments 226,262 226.262 25,572 Net movement In funds 2.007.148 2.007,148 (911,601) Reconciliation of funds: Total funds brought foThYard Net movement in funds 4.443,854 2,007.148 4.443.854 2.007.148 5,355,455 (911,601) Total fvnds carried fotward 6N51.002 6A51,002 4,443,854 The Statement of Financial Activikn'es includes all gains and losses recognised in the year. The notes on pages 14 to 21 fonn part of these financial statements. SUMER NORTHEP,N IRELANO Page11 The House of Vlc-Ryn Trust Limited (A Company Llmtted by Guarantee) Registered number.. N1062681 Balance Sheet As at 30 June 2024 2024 2023 Note Current assets Debtors Investments Cash at bank and in hand 315,000 2.251,834 3,888,968 100,000 2,025,572 2.327.162 6,455,802 4,452.734 Creditors.. amounts fatling due within one year 10 14,800) (8,880) Net current assets 6,451,002 4,443,854 Total net assets 6.451.002 4.443.854 Charlty funds Restricted funds Unrestricted funds 11 11 6AS1.002 4.443,854 Total funds 6,451,002 4,443,854 The Trustees acknowledge their responsibilities for cOMp￿.ng with the requirernents of the Act wth respect to accounting rewrds and preparation of financial ststements. The financial statements have been prepared in attordance with the provisions applicable to ents'ties subject to the small companies regime. The finanGial 5tatetnent5 were appriNed and iiulhorised for issue by the Trustees on 19 February 2025 and Signed on their behalf by. Ms Vlctoria Hylands Ms Kathryn Cunnlngham The notes on pages 14 to 21 form part of these financial statements. NOR-: 4ERN. IP.CLAINO Page 12 The House of Wic-Ryn Trust Limited (A Company Limited by Guarantee) Statement of Cash Flows For the Year Ended 30 June 2024 2024 2023 Cash flows from operating activities Net cash used in operating activities 1.561,806 (1,031,718) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 1.561,806 {1,031,718) 2,327,162 3.358,880 Cash and cash equivalents at the end of the year 3.888,968 2,327,162 The notes on pages 14 to 21 fonn part of these financial statements SUMER NORTHERN IRELAND Page 13 The House of Vic41yn Trust Limited IA Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 30 June 2024 General infomiatlon The Trust is a company limrted by guarantee. The Members of the company are the Trustees named on page 1. In the event of the Trust being wound up, the liability in respect of the guarantee is limited to £1 per member of the Trust. Accounting policies 2.1 Basis of preparatlon of financial statements The financial statements have been prepared in accordance wrth the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The House of Vic-Ryn Trust Limited meets the definition of a public benefrt entty under FRS 102. Assets and liabiltties are Initial￿ recognised at histort¢al cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Going concern The Trustees of The House of VIc-Ryn Trust Limited have reviewed the resources available and believe that the Trust has adequate resources to continue in operational existence for the foreseeable future. Accordingly, The House of VIc-Ryn Trust Limrted continue to adopt the going concern basis in preparing the financial statements. 2.3 Income All incorne is recognised once the Trust has entitlement to the income. it is probable that the income will be received and the amount of income receivable can be measured reliably. Other income is recognised in the pertod in which it is receivable and to the extent the goods have been provided or on completlon of the servlce. 2A Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefrts will be required in settlement and the amount of the obligation can be measured reliabty. Expenditure is classified by activrty. Expenditure on chartiable adivities is incurred on directly undertaking the actNities which further the Trust's objectives. as we15 as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional. such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. SUMER NORTHEP.N IRELANO Page 14 The House of Vl¢-Ryn Trust Limited (A Company Limited by Guarantee) Notes to the Financial Ststements For the Year Ended 30 June 2024 Accountlng pollcles (continued 2.6 Investments Current asset investments are a fonn of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impaiment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on investments. in the Statement of Financial Activtts'es. 2.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and In hand Cash at bank and in hand includes cash and short-tenn highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.8 Liabllftles and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic beneffl will be required in settlement. and the amount of the settlement can be estimated reliably. Liabilities are reco9nised at th8 amount that the Trust anticipates it viill pay to settle tho debt or tha amount it has received as advanced payments for the goods or sep4ices it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is matenal, the provision is based on the present value of those amounts, discounted at the pre-tsx discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.9 Financial instruments The Trust On￿ has financial assets and financial liabilrties of a kind that qualfy as basic financial instruments. Basic financial in5trumerrts are inrtially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.10 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the 9eneral objectives of the Trust and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. SUMER NORTHER￿1 IRELAND Page 15 The House of Vlc-Ryn Trust Limited (A Company Llmited by Guarantee) Notes to the Financial Statements For the Year Ended 30 June 2024 Income fn)m donations and legacles Unrestricted funds 2024 Total funds 2024 Donations 3,239,526 3.239,526 Unrestricted funds 2023 Total funds 2023 Donats'ons 165,933 165,933 Other incoming resources Unrestricted funds 2024 Total funds 2024 Bank interest received 55.287 55,287 Unrestricted funds 2023 Total funds 2023 Bank interest received 51.669 51,669 SUMER NORTHERN IRELAND Page 16 The House of Vic-Ryn Trust Lifflited (A Company Limlted by Guarantee) Notes to the Financial Statements For the Year Ended 30 June 2024 Expenditure on charitable activities Unrestricted funds 2024 Total 2024 Grants to Christian organisations Grants to Medical organisations Govemance costs Support costs 1.407,609 99,626 5,683 1,009 1,407,609 99,626 5,683 1,009 1,513,927 1.513,927 Unrestricted funds 2023 Total 2023 Grants to Christian organisations Grants to Medical organisations Govemance costs Support costs 1.033.766 114.500 6,009 500 1,033,766 114.500 6.009 500 1,154,775 1,154.775 Auditors, remuneration 2024 2023 Fees payable to the Trust's auditor for the audti of the Trust's annual accounts 4,800 3.850 Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits {2023 - £NIL). During the year, no Trustee expenses have been incurred (2023- £NIL). SUMER NOR I HERN IREUIND Page 17 The House of VrG-Ryn Trust Lilnited (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 30 June 2024 Current asset investvnents 2024 2023 Cost or Valuation At 1 July 2023 Net gainsl(losses) on investments 2,025,572 226,262 2.000.000 25,572 At 30 June 2024 2,251,834 2.025,572 Debtors 2024 2023 Due within one year other debtors 315,000 100,000 315.000 100,000 10. Craditors: Amounts falling due withln one year 2024 2023 Accruals and deferred income 4.800 8,880 SUMER NORTHERN IRELAND Page 18 The House of Vic4lyn Trust Limited (A Company Limited by Guarantee) Notes to the Financial Ststsments For the Year Ended 30 June 2024 11. Statement of funds Statement of funds - current year Balance at 1 July 2023 Gainsl Balance at 30 (Losses) June 2024 Income Expenditure Unrestrlcted funds Designated funds Designated Funds - all funds 4,433.854 3,294,813 (1,513.927) 226.262 6,441,002 General funds General Funds - all funds 10,000 10,000 Total Unrestricted funds 4A43.854 3.294,813 (1,513.927) 226,262 6,451,002 Statement of funds - prior year Balance at 1 July 2022 Gainsl Balance at (Losses) 30 June 2023 Income Expendiiure Unrestrlcted funds Designated funds Designated Funds - all funds 5,345,455 217.602 (1,154,TT5) 25,572 4,433,854 General funds General Funds - all funds 10.000 10,000 Total Unrestricted funds 5.355.455 217,602 (1,154,775) 25,572 4.443,854 SUMER NOR I HERN IRELAND Page 19 The House of ViG-Ryn Trust Limited IA Company Limited by Guarantee Notes to the Financial Statements For the Year Ended 30 June 2024 12. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted funds 2024 Total funds 2024 Current assets Creditors due ￿￿thin one year 6.455.802 (4,800) 6A55,802 (4,800) Total 6.451,002 6,451,002 Analysis of net assets between funds - prlor period Unrestricted lunds 2023 Total funds 2023 Current assets Creditors due within one year 4,452,734 (8.880) 4.452,734 (8,880) Total 4.443,854 4.443,854 13. Reconcillation of net movement in funds to net cash flow from operating activities 2024 2023 Net incomelexpenditure for the period (as per Statement of Financial Activities) 2,007,148 {911,601) Increase in debtor5 Decrease in creditors Net gains on investments (215,000) (100,000) (4.080) 5,455 (226,262) (25,572) Net cash provlded byl(used in) operating activities 1,561,806 (1,031,718) SUMER NORTHERN IRELANO Page 20 The House of Wic-Ryn Trust Lrmrted (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 30 June 2024 14. Analysis of cash and cash equivalents 2024 2023 Cash in hand 3,888,968 2.327,162 Total cash and cash equivalents 3,888,968 2,327,162 15. Analysis of changes in net debt At1Juty 2023 Cash flows At 30 June 2024 Cash at bank and in hand Liquid investments 2,327,162 2.025,672 1,561,806 226,262 3,888,968 2,251,834 4.352.734 1,788,068 6.140,802 16. Grant commitments During the June 2024 TTUStee meeting the Board committed to paying three donations totalling £48.750 in July 2024. 17. Related party transactions The ultimate controlling paty is the Board of Trustees. lals Group (UK) Limited is a related party by virtue of common control of the Board of Trustees. The Trust had a treasury function arrangement in place with I