## ## |`Trustees`|`Mr M R Johnston`|| |---|---|---| ||`Mrs G J Johnston`|`(Appointed 7 February`| |||`2025)`| |`Charity number`|`NIC102146`|| |`Company number`|`NI008546`|| |`Registered office`|`Garvey Studios`|| ||`8-10 Longstone Street`|| ||`Lisburn`|| ||`BT28 1TP`|| |`Independent examiner`|`Miscampbell & Co`|| ||`6 Annadale Avenue`|| ||`Belfast`|| ||`BT7 3JH`|| |`Solicitors`|`MacCorkell Legal & Commercial`|| ||`Garvey Studios`|| ||`8-10 Longstone Street`|| ||`Lisburn`|| ||`BT28 1TР`|| ## ||`Page`| |---|---| |`Trustees' report`|`1-3`| |`Statement of trustees' responsibilities`|`4`| |`Independent examiner's report`|`5`| |`Statement of financial activities`|| |`Balance sheet`|`7`| |`Notes to the financial statements`|`8-14`| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## THE J.& M. TRUST LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 30 SEPTEMBER 2025 The trustees, who are also the directors of The J.& M. Trust Limited for the purpose of company law, are responsible for preparing the Trustees, Report and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra¢lice}. Company law requires the trustees to prepare finan¢ial stslements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources. Including the income and expenditure. of the charitable company for that year. In preparing these financial statements, the Iru51ees are required lo.. select suitable acctsunling policies and then apply them consislenlly.. observe the methods and principles in the Charities SORP., make jLJdgemenls and eslimales that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements-, and prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume that the trust will continue in operation. The Irtjstees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. THE J.& M. TRUST LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE J.& M. TRUST LIMITED I report on the financlal statements of the trust for Ihe year ended 30 September 2025, which are set out on pages 6 10 14. Responslbllltles and basis of report As the trustees of the trust land also Ils dire¢lors for the purposes of company lawl you are responsible for the preparation of the financial statements in a¢¢ordance ¥Mth the ￿qUIrements of the Charities Act {Northern Ireland) 2008. I report in respect of my examination of the Charty's financial slalements carried out under the Charits"es Act (Northern Irelandl 2008. In carrying out my examination I have followed all the applicable Diretslions given by the Charty Commission under the Charities Act {Northem Ireland) 2008. Indgpend•nt examinerfs statement I have completed my exarrination and I have no concerns in ￿SpeCt of the matters11110 {41 listed above and, in connection with followlng the Dlreclions of the Charity Commission for Northern Ireland, I have found no matters that require drawing lo your attention. accounting records were not kept in respect of the trust as required by section 386 of the Companies Act 2006. the financial statements do not accord with those records,. or the financial slalemenls do not comply with the applicable requirements ¢oncerning the form and conlenl of accounts sel out in the Charities (Accounts and Reports) R$gulalions 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. the financial statements have not been prepared in accordance wlh the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable Ic charities preparing their financial ststemenls in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. I have no concerns and have come across no other matters in Conne￿10n with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the financial stslements lo be rea¢hed. Patrick mi￿ampbe1l Miscampbell & Co 6 Annadale Avenue Belfast BT7 3JH Dated.. 21 January 2026 THE J.& M. TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Unrestricted Restrictsd funds funds 202$ 2025 Total Unrg$trf¢ted Restrlcted funds fund$ 2024 2024 Total 2025 2024 Notes Income and endovmiants from.. Donations and legacies Charitable activities Investments Other material inwme Other income ISO 5,141 1,044 56.668 56,828 5,141 1,044 89,976 51.594 141,570 436,027 10,048 436,027 10,048 7,390 7,390 Totsl income 13.735 56,668 70,403 536,051 51,594 587,645 Expendituro on= Charitable activities Other expenditure 84,697 15.508 100,205 79,872 5,080 18.000 97,872 5.080 12 Total expendituro 84.697 15,508 100,205 84.952 18,000 102.952 Net incomel{expenditurel and movement in fund5 170.962) 41.160 129,802) 451.099 33,594 484,693 Reconciliatlon of funds: Fund balance3 at 1 October 2024 463,582 43,853 507,435 12,483 10,259 22,742 Fund balances at 30 September 2025 392.620 85,013 477,633 463,582 43,853 507.435 The ststement of financial aclivib'es includes all gains and losses recognised in the year. All income and expenditure derfve from conlinulng activities. THE J.& M. TRUST LIMITED BALANCE SHEET AS AT 30 SEPTEMBER 2025 2025 2024 NotOS Flxed assets Investment property 14 307.312 307.312 Current assets Debtors Cash at bank arKI in hand 15 137,575 64.701 143,715 57,973 202.216 201,688 Crèditors: amounts t•lllng du• wlthln one year 16 {31.8951 11,5651 Nel current assets 170,321 200,123 Total a55ets le$5 current Ilabtliti•s 477.633 507,435 Income funds Restricted funds Unrestricted fuThYs 17 85.013 43,853 392,620 463,582 392,620 463,582 477.633 50Y,435 The company is 8ntiUed to the exemption from the audit raquirement contained in sertttin 477 of the Companies Act 2006, for the year ended 30 Sèptember 2025. Th& directors acknowledge their responsibilitios for complying with the requirements of Ihe Companies Act 2006 with respect to accountsng records and preparatk)n offinancial ststements. Tha members have not rèquired the CAJmpany to obtsin an audit of its financial statements for the year in question in accordance with sectK)n 476. These ffin8n¢ial statements haw bean prepared in accordanca with Ihe provisi0r￿ appJicabl6 to companies subject to the small companies regirne. The finan¢lal statements wer8 8pproved by the Tnjstees on 21 January 2026 Mr Tru Jthnston Company registration number N1008S46 THE J.& M. TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accountlng policies Charity information J.& M. Trust Limited is a private company limlled by gU8￿ntee Incofpof8ted in Northern Ireland. The registered office is Garvey Studios, 8-10 Longslone St￿et, Lisburn, BT28 1TP. Their registered company number is N1008546, and their registered charity number is NIC102146. The principal activity of the company continued to be that of fundraising for religious and charitable purposes, 1.1 Basls of preparatlon The financial statements have been prepared in accordance wth the trust's governing document. the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" The trust is a Public Benefit Entity as defined by FRS 102. The trust has taken advantage of the provisions in the SORP for charities not lo prepare a statem￿1 of cash flows. The financial ststements are prepared in sterling. which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £. The finanual statements have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.2 Going concem Al the lime of approving the financial statements, the trustees have a reasonable expectation that the tiu¥t has adequate resources to Continue in operational existence for the foreseeable future. Thus the Iruslees continue lo adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitabla funds Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted ftjnds are subje¢t to specific conditions by donor5 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 5talemenls. Endowment funds are subject to specific conditions by donors that the t￿pItal musl be malnlalned by the trust. 1.4 Incomo All income is recognised once the Company has entillemenl to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Stslement of Financial Activities on a receivable basis. The balance of income received for specific purposes bill not expended during the period 15 shown in the relevant funds on the Balance Sheet. Where income is received in advance of enlltlement of receipt, it$ recognition is deferred and included in creditors as deferred income. Vvhere enlrtlement occurs befo￿ income is Teceived. the income 1$ accrued. Income lax recoverable in relation lo investment In￿Me is recognised at the time the investment income is receivable. THE J.& M. TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accountlng policies (Continued 1.5 Expendltu Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit lo a third paty. It is probable that a transfer of economic benefits will be required in settlement and the amount ol the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct cost5 attributable lo a single activity are allocate directly lo that activity. Shared costs which contribute to more than one activity and support C051s which are not attributable lo a sirigle activity are apportioned between those activities on a basis consislenl wf(h the use of resources. Central 51aff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the assefs use. Expenditure on Charitable aclivilie5 is incurred on directly undertaking the 8¢1ivities which further the Cornpany's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made eX￿pt in those cases where the ofv is conditional. SLtch as grants ￿Ing recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met al the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 1.6 Investment property Investment propety, which is propety held to earn rentals andlor for capital appreciation, is initially recognised at Cost, which includes the purchase cost and any directly attributable expenditure. Subsequently il is measured at fair value at the Teporting end date. The surplus or deficit on revaluation is recognised in profit or loss. 1.7 Cash and cash equivalents Cash and cash equivalents Include cash Sn hand, deposits held al call wlh banks, other short-terni liquld inve5trnents with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in ¢urrenl liabilities. 1.8 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement value with the excèption of bank loans which are subsequently mèasured at amortised cost using the effective interest rnelhod. 1.9 Employee b8n8rts The cost of any unused holiday entftlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the trnst is demonstrably committed to terminate tho employment of an employee or to pro￿de temilna￿on benefits. THE J.& M. TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Criti¢al accountlng estimates and judgements In the application of the trusts accounting policies, the trustees are required lo mak@ jLJdg&ments, eslimales 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 lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accoijnling estimates are recognised in the period in which the estimate is revised where the revision affects (￿lY that period, or in the perlod of the revision and fijlure periods where the rewsion affects both current and future periods. Income from donations and lègacies Unre$trl¢tgd R8$trSctsd funds funds 2025 2025 Totsl Unr•$trfcted Restrlctsd funds funds 2024 2024 Total 2025 2024 Donations and gifts 160 56,668 56,828 89,976 51,594 141,570 Incom• from charitabl8 a¢tlvltl¢$ unr￿tricted funds 2025 Unr8$tri¢ted funds 2024 Other Income 5.141 Income from investments Unre$trf¢ted Unrestricted funds funds 2025 2024 Interest receivable 1,044 Oth•r income Unrastrict8d Unrèstrictsd funds funds 2025 2024 Rent le￿iVed 7,390 10,048 10- THE J.& M. TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Expenditurg on charltsble actlvltles Charitable Charitable Expenditure Expenditure 2025 2024 Charitable Donations La Diferencia and other donations Donations 15,508 58,459 18.000 69,031 73,967 87.031 Share of support and governance costs (see note 8) Support costs Govgrnance costs 22,758 3.480 9,278 1.563 100,205 97,872 Analysls by fund Unreslricled funds Restricted funds 84,697 15,508 79,872 18,000 100,205 97,872 Support costs allocatsd to activiti8s 2025 2024 Office costs General Printing, postage and slalionery 8ank fees Insurance Rates Travel Repairs and maintenanco Miscellaneous costs Govemance Costs 7,494 67 234 238 554 1.208 1,900 7.713 3,350 3,480 4,253 14 245 313 1,370 2,585 497 1,563 26,238 10,841 Analysed ba￿￿n. Charitable activities 26,238 10,841 THE J.& M. TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Net movement in fund$ 2025 2024 The net movement in funds is slated after ¢hargingl(crediling}'. Fees payable for the independent examination of the charity's financial statements 2,820 1,563 10 Trustses None of the Iruslees {or any person$ conne¢led with them) received any remuneration or benefits frorn the trust during the year. 11 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Numb¢r There were no employees whose annual remuneration was more than £60.000. 12 Othor 8xponditur Unrestrlcted Unrestricted funds fund$ 2025 2024 Net loss on disposal of programme related Investments 5.080 13 Taxation The charity is exempl from tax on income and gains falling within section 524 and 525 of the Income Tax Ad 2007 or section 256 of the Taxation of Chargeable Gains Act lo the extent that these are applied to its charitable purpose. 14 Investmènt propgrty 2025 Fair valug At 1 October 2024 and 30 September 2025 307.312 Investment propertles were transferred from Ideal Estates (Belfast) Llmked and a￿ cathed al cost. 12- THE J.& M. TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 15 Dobtors 2025 2024 Amounts falling due within one year.. Other debtors 137,515 143,715 16 Cr8ditors: amounts falling dua within one yaar 2025 2024 Other creditors Accruals and deferred Income 30.000 1.895 1,565 31.895 1,565 17 Restrictsd funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject lo specific conditions by donors a5 to how they may be used. At 1 October 2024 Incomlng resources Resources expended At30 Saptgmbgr 2025 Restrfcted funds 43,853 56,668 {15,5081 85,013 Prevlous year: At 1 Odober 2023 In¢omlng Resources resourcès oxpènd8d At30 Septsmber 2024 Restricted funds 10,259 51,594 118,000} 43,853 18 Unr8strl¢tsd funds The unrestricted fvnd$ of the charty comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unrestricted fLJnds by the trustees for specific purposes. At 1 October 2024 Incoming Resour¢es At30 resources expended September 2025 General funds 463,582 13.735 {84,6971 392,620 13- THE J.& M. TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 18 Unrestricted funds {Contlnugd} Previous year: At 1 Octobgr 2023 Incomlng Resources At30 rg$ources oxpendod September 2024 Gener81 funds 12,483 536,051 184.952) 463.582 19 Analy$i$ of net assets between funds Unrestricted funds 2025 Restricted funds 2025 Totsl 2025 At 30 Saptember 2025: Investment propertie5 Current asselsl{liabilitiesl 307,312 85,308 307,312 170,321 85,013 392.620 85.013 477.633 Unrestrictod funds 2024 Rostricted funds 2024 Total 2024 At 30 September 2024- Investment properties Current assetsllliabililies) 307,312 156,270 307,312 200,123 43.853 463.582 43,853 507,435 20 Relatsd party transactlons The J & M Trust Limited and Ideal Estates (Belfastl Limited have a common director. The total donations received, without conditions, amoun15 to £Nil12024.. £67,975) during the year. Ideal Estate5 {Belfasll Limited ceased to trade in the year and transferred all assets and li8bilrties, including investment properties. lo The J & M Trust Limited. The J & M Trust Lbmiled and Angello Development Foundation have a common director. The total donations paid lo Angello Development Foundation by The J & M Trust Limited amounted to £23,200 12024.. £7.410). 14-