Company registratlon number: N1043798 Charity Commlssion Nl number: 102190 Gracehill Old School Trust Company limited by guarantee Unaudlted financial statements 31 March 2023 ¥Lka,Iil GRACEHT[[ ()i.i).%(.-I i()()i.
Gracehill Old School Trust Company Ilmlted by guarantee Contents Page Reference and Administrative Details Trustees, Annual Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet 10-11 Notes to the financial statements 12-15
Gracehlll Old School Trust Company limfted by guarantee Reference and Admlnistrative Detalls Trustees Peter Thomas Carter Brown Christie Colhoun Dr David John Johnston Roberta Kathleen Thompson William Richard Wray Company number N1043798 CCNI number 102190 Reglstered offi¢• 8 Montgomery Street Gracehill Co Antrim BT42 2NN Independent examlner Potter Finnegan Limited Unit 25 The Coutyard Business Park 190 Galgorm Road Ballymena Co Antrim BT42 1HL Bankers Danske Bank North Business Centre 1-2 Broadway Ballymena Co Antrim BT43 7AA Sollcltors Martin King French & Ingram 52 Catherine Street Limavady Co Londonderry BT49 9DB
Gracehlll Old School Trust Company limited by guarantee Trustees. Annual Report Year ended 31 March 2023 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of the Statements of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity. Objectlves and activities Gracehill Old School Trust's objects are °to preseNe and protect for the public benefit, building or structures of interest in and near Gracehill in the County of Antrim and lo restore renovate and COnsee parkland planned landscapes and other open spaces and land related to such buildings or structures." Having overseen its restoration, the Trust now manages Gracehill ord School. the Grade B listed fornier primary school in the Moravian settlement and Conservation Area of Grah111. As well as providing sustainable income from rental of portions of the premises and community facilities, the building also houses a mock schoolroom which is open to organised tours and an exhibition which is open to the public during the building's opening hours and by arrangement outside normal business hours. This centre outlines the history of the Moravian community and their settlement at Gracehill and contains interpretative panels and exhibits. The Trust facilitates organisations who wish to visit the village with tours by local volunteer guides. The Trust has also overseen the renovation of the Village Square, including the reinstatement of the vlllage pond and historic pathways. They have researched and installed a °live" Victorian Post Box outside the former historic Village Post Office and Shop, which they have now acquired. Having secured funding, a programme of renovating and restoring of the building Is now underway in a similar project to the Old School. The first phase of this has now been completed restoring the historic living accommodation within the building. This will be available for short term rental. The fabric of the building has also been restored and protected with the installation of a new roof structure, replumbing and rewiring. These initiatives directly benefit the users of the community facilities within the Old School and visitors to the interpretative centre and school room. They indirectly benefit those organisations that make use of tlie organised tours of the village and the tenants who are provided with suitable premises for their businesses. It also has a wider benefit to the community at large through the retention and restoration of buildings of historic significance in a conservation area. These benefits are all recognisable, identifiable, definabla and capable of description and are all beneficial. The intended beneficiaries are sections of the public who live in the village or visit the village and use its premises. The wider public also benefit through enhanced public understsnding of the history of Moravians and the settlement in Gracehill and through access being granted to historic buildings and architectural features which are also being preserved for the enjoyment of future generations. Publlc benefit statément The trustees have had regard to the Charity Commission for Northem Ireland's guidance on public benefi't and they believe that this has been met through the achievements outlined in this report. Achievements and perfonnance Gracehill Old School During the year, activity has continued to recover following the pandemic. There has been a gradual increase in tours and community use of the facility although not yet returning to their pre-covid levels.
Gracehill Old School Trust Company limited by guarantee Trustees, Annual Report Year ended 31 March 2023 The Old Shop. 6 Montgomery Street, Gracehlll During the year, the Trust completed further renovation work on the building and an associated courtyard further enhancing a¢sS to the historic Old Shop interior and holiday accommodation. All grant aid applicable to this work has now been paid. The funders included private donors, Mid and East Antrim Borough Council, the Department of Agriculture, Environment and Rural Affairs (DAERA) Village Catalyst Pilot and the Historic Buildings Division, Department of Communities. The building is now operational and has had a number of visitors but has also been extensively used by visitors in connection with the World Heritage Nomination. The Old Shop has also been used to facilitate Tour and Volunteer Guide training and as a venue for community activities, such as Craft fairs and history groups. In addition, it has been the catalyst to bring back a mobile library Serl¢e to the village which is now regularly used by many local people. World Hèritage Statu8 The Trust has continued the efforts. now in their twenty-first year. to take forward the World Heritage bid that involves Gracehill as a constituent part of the proposed "Moravian Church Setllements" transnational nomination to UNESCO in partnership with Bethlehem (USA), Hermhut (Germany) and Christiansfeld (Denmark). During the year further progress was achieved. Gracehill was added to the UK "TentatNe Lisf of Potential World Heritage sites and was subsequently part of the nomination by the US Government to UNESCO in Paris. The assessment process is ongoing with the outcome possibly known in Summer 2024. The Trust was fortunate to work in close partnership with Gracehill Moravian Church and was successful in achieving significant fijnding toward the costs of preparing the nomination documentation from Mid and East Antrim Borough Council and Historic Buildings Division, Department of Communities. Tour3 The number of tours has continued to increase again during the year wtth a noticeable increase in international visitors perhaps prompted by ongoing media interest. F5nanclal revlew The financial results are as set out on 9-10 of the accounts. The challenges faced by the trustees in 2022.23 are likely to continue and will require ongoing monitoring. Structure, governance and management Gracehill Old School Trust is a company limited by guarantee and a registered charity. The company was incorporated on 6 August 2002. The company was established under a Memorandum of Association which established the objectives and powers of the company and is govemed by its Articles of Association. The liability of the members is limited in that every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while helshe is a member or within one year after helshe ceases to be a member, for payment of the debts and liabilities of the company contracted before helshe ceases to be member and of the costs. charges and expenses of winding-up and for the adjustment of the rights of the contributories amongst themselves. such amount as may be required not exceeding £1. The directors of the charitable company are its trustees for the purpose of charity law. The trustees who have seNed during the year and since the year end were as follows: Peter Thomas Carter Brown Christie Colhoun David John Johnston Roberta Kathleen Thompson William Richard Wray
Gracehill Old School Trust Company limited by guarantse Trustees, Annual Report Year ended 31 March 2023 Small company provisions This report has been prepared in accordan with the provisions applicable to companies entitled to the small companies exemption. This report was approved by the board on 20 November 2023 and signed on behalf of the board by: Dr Davld John Johnston Trustee
Gra¢ehill Old School Trust Company limited by guarantee Independent ExamIne8 Report to the Trustees of Gracehill Old School Trust Year ended 3q March 2023 We report on the accounts of the company for the year ended 31 March 2023 which are set out on pages 9 to 15. Respectlve responslbilltles of trustees and examiner As the charity trustees (and also the directors of the company for the purposes of company law) you are responsible forthe preparation of the accounts in accordance with the requirements ofth6 Companies Act 2006. Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for independent examination, it is our responsibility to= examine the accounts under section 65 of the Charities Act (Northern Iland) 2008., follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 6519)(b) of the Charities Act. and state whether particular matters have come to our attention. Basis of Independent •xamlnerfs report We have examined your charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65{9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters. Our role is to state whether any material matters have come to our attention giving us cause to believe.. 1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006 2. That the accounts do not accord viith those accounting records 3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland 4. That there is further information needed for a proper understanding of the accounts to be reached.
Gracehlll Old School Trust Company limited by guarantee Independent Examlnor's Report to the Trustees of Gracehlll Old School Trust Year ended 31 March 2023 Independent examiner's statement We have completed our examination and have no concems in respect of the matters (1) to (4) listed above and, in connection with following the Dire10n$ of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your atiention. Potter Flnnegan Itd Chaitered AccouF)tants Unit 25 The Coutyard Business Park 190 Galgorm Road Ballymena Co Antrim BT42 1HL 20 November 2023
Gracehill Old School Trust Company limited by guaranteè Statement of Financial Actlvltles Year ended 31 March 2023 Unrestrfcted Restrictod Total Funds Total Funds Funds Funds 2023 2022 Note Income from: Donations and legacies Charitable activities Other trading activities Investments Grants and other income Total incoming resources 15.500 15.500 22.177 72.190 72,190 59,281 43,716 131,408 20.000 20.000 63,716 151,408 70,745 152,204 Expenditure on: Raising funds Charitable activities Other expenditure Total expendlture (38,386) (38.386) (94,151) (132,537) (37,731) (79,859) (117,5901 (94,151) (94,151) (38,386) Net movement In funds 37.257 (18,386 18,871 34,614 Reconclllatlon of funds Total funds brought foNard 517,124 4,269 521.393 486,779 Retained earnings at the end of the year 554,381 (14,117) 540,264 521,393 All the activities of the company are from continuing operations. The notes on pages 12 to 15 form part of these financial statements.
Gracehlll Old School Trust Company Ilmited by guarantee Balance Sheet 31 March 2023 Unrestricted Restricted funds funds Total funds 2023 Total funds 2022 Fixed assets Tangible assets Total fixed assets 1 144 662 1,144.662 1144 662 1,144,662 1 142.814 4,142,814 Current assets Debtors Cash at bank and in hand Total current assets 24,043 24,043 776 24,819 35,548 19,209 5.610 37,600 Llabllltles Credltors: amounts falllng due wlthln one year (55,047) (19.727) (74.774) (57,369) Net current assetsl(Ilabllltles) (36,838) (14,117> (49,955) (19,769) Total assets less current Ilablllties 1,108,824 114,117 1,094,707 1,123,044 Creditors: amounts falling due after more than one year 10 (554,443) (554,443> (601,652) Net a8Set$ 554,381 114,1171 540,264 521,393 Charlty funds Unrestricted funds Restricted funds 11 11 554.381 554,381 (14,117) 517,124 4,269 {14,117) Total charity funds 554,381 (14,117) 540.264 521,393 For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors responsibilities= The members have not required the company to obtain an audit of its financial statements ft>r the year in question in accordan with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. 10
Gracehlll Old School Trust Company limited by guarantee Balance Sheet (contlnuedl 31 March 2023 These financial statements have been prepared in accordan with the provisions applicable to companies subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. These financial statements were approved by the board and authorised for issue on 20 November 2023, and are signed on behalf of the board by: Dr David John Johnston Trustee Chrlstie Tru8 oun The notes on pages 12 to 15 fonn part of these financial statements. 11
Gracehill Old School Trust Company limlted by guarantee Notes to the Flnancial Statements Year ended 31 March 2023 General informatlon The company is a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is 8 Montgomery Street. Gracehill, County Antrim. BT42 2NN. Statement of compllance These financial ststements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practi 'Accounting and Reporting by Charities {SORP 2015),, issued in July 2014 and the Companies Act 2006. Accountlng policles Basls of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilits'es and investment properties measured at fair value ihrough profit or loss. The financlal statements are prepared in sterling, which is the functional currency of the entity. Income Income is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Tangibla assets Tangible assets are initialty recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. An increase in the carrying amount of an asset as a result of a revaluation. is COgnised in other comprehensive income and accumulated in capital and reserves. except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carying amount of an asset as a result of revaluation is recognised in other comprehensive income to Ihe extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset. the excess shall be recognised in profit or loss. 12
Gracehill Old School Trust Company limited by guarantee Notes to the Financlal Statemonts {continued) Year ended 31 March 2023 Depreclatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Land and buildings Fixtures. fittings and equipment 15° straight line If there is an indication that there has been a Signifnt change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. Government grants Grants are credited to deferred revenue. Grants towards capital expenditure are released to the statement of financial activities over the useful life of the assets. Grants towards revenue expenditure are released to the statement of financial activities as the related expenditure is incurred. Incoming resour¢88 from trading actlvltles Unrestricted Restrfctod Total Funds Total Funds Funds Funds 2023 2022 Rental income Electricity and gas recharges Other income 36.570 34.240 36.569 34,239 36,334 22,372 576 59,281 72,190 72,190 Total other expendlture Unrestrlcted Restricted Total Funds Funds Funds 2023 Total Funds 2022 Insurance Premises expenses Repairs and maintenance General admin expenses Legal and professional fees Bank interest Depreciation of fixed assets 5.586 49,361 18,860 2,091 3,178 9.092 5.983 94,151 5.586 49,361 18,860 2.091 3,178 9,092 5,983 94,151 2.756 34,142 25,727 1,320 2,478 7,453 5,983 79,859 Taxation The company is a registered charity and does not cary out a trading activity. It is therefore exempt from taxation. 13
Gracehlll Old School Trust Company limited by guarantee Not8s to the Financial Statements (contlnued) Year ended 31 March 2023 Tangible assets Fixtures Freehold flttlngs and property equlpment Total Cost At 1 Aprll 2022 Additions 1.122.678 7.831 48,088 1,170,766 7.831 At 31 March 2023 1.130,509 48,088 1,178,597 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 27,952 5,983 27,952 5,983 33,935 33,935 Carrylng amount At 31 March 2023 1,130,509 14.153 1.144,662 At 31 March 2022 1,122,678 20,136 1,142,814 Debtors 2023 2022 Trade debtors Other debtors 21,921 2,122 12,412 23,136 24,043 35,548 Creditors: amounts falling due withln one year 2023 2022 Bank loans and overdrafts Social security and other taxes Loans from trustees Other creditors 27,157 851 4,600 42,166 24,222 1,000 32.147 74.774 57.369 14
Gracehill Old School Trust Company limited by guarantee Notes to the Financlal Statements (continued) Year ended 31 March 2023 10. Creditors: amounts falling due after more than one year 2023 2022 Bank loans and overdrafts Deferred income 118.453 435,990 137,911 463.740 554,443 601,652 11. Summary of funds reconclllatlon Openlng Balance Closlng Expendlture Transfers Balance Incom8 Unrestricted funds General 517 124 517,124 131408 131,408 94.151 194,151) 554 381 554,381 Restricted funds World Heritage application 4.269 4,269 20,000 38,386 (14,117) 521,393 151,408 1132,537) 540,264 12. Golng Concèrn The trustee8 have considered the cashflow position of the Trust and are satisfied that sufficient funds are In place to allow the Trust to continue to operate within agreed facilities for the period of at least 12 months from the date of approval of these financial statements. The financial statements have therefore been prepared on the going concem basis and have not been amended in any way to reflect any Impact of any potential going concern issues. 15