Company registration number: N1043798 Cha."ity Commission Nl number: 102190 Gracehill Old School Trust Company Ilmited by guarantee Unaudited financial statements 31 March 2024 GRACEHT[[ ()i.i) %("1 i( )()].
Gracehill Old School Trust Company limited 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
Gracehill Old School Trust Company limited by guarantee Reference and Administratlve Details Trustees Peter Thomas Carter Brown Christie Colhoun Dr David John Johnston Roberta Kathleen Thompson William Richard V*lray Company number N1043798 CCNI number 102190 Registered offlco 8 Montgomery Street Gracehill Co Antrim BT42 2NN Independent examlner Potter Finnegan Limited Unit 25 The Courtyard Business Park 190 Galgorm Road Ballymena Co Antrim BT42 1HL Bankers Danske Bank North Business Centre 1-2 Broadway Ballymena Co Antrim BT43 7A4 Soll¢ltors Martin King French & Ingram 52 Catherine Street Limavady Co Londonderry BT49 9DB
Gracehill Old School Trust Company limited by guarantee Trustees, Annual Report Year ended 31 March 2024 The trustees present their report and the unaudrted financial statements of the charity for the year ended 31 March 2024. The trustees have adopted Ihe provisions of the Statements of Recommended Practice (SORP) "Accounting and Reporting by Charities. (FRS 102) in pparIng the annual report and financial statements of the charity. Objectives and actlvities 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 to restore renovate and conserve parkland planned landscapes and other open spaces and land related to such buildings or structures." Having overseen its restoration, the Trust now manages Gracehill Old School. the Grade B listed former primary school in the Moravian settlement and Conservation Area of Gracehill. As well as providing sustainable income from rental of portions of the premises and community facililies, the building also houses a mock schoolroom which is open to organised lours and an exhibition which is open to the public during the building's opening hours and by arrangement oulside normal business hours. This centre outlines Ihe 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 voliinteer,guides. The Trust has also overseen the renovation of the Village Square, including the reinstatement of the village pond and historic pathways. They have researched and Installed 8 "live. Victorian Post Box outside the former historic Village Post Office and Shop, which they have now acquired. Having secured funding, a proqramm of renovating and restoring the building is ongoing. The first phases of this have now been completed sec.urins the fabric of the building and restoring the historic living accommodation within the building. This is available for short term rental. These initiatives directly benefit the users of the community facilities within the Old sc.hool and visitors to the interpretstive centre and school room. They indirectly benefit those organisations that make use of the organised tours of the village and the tenants who are prDVKled Wilh 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 a51 recognisable, identifi'able, definable and capable of description and are all beneficial. The intended beneficiaries are sections of the publ.'c who live in the village or visit the village and use its premises. The wider public also benef,,t through enhanced public understanding of the history o! Moravianq and the settlement in Gracehill and through access being granted to historic buildings a.nd aichitectural features which are also being preserved for the erljoyment nf fLiture generations. The resloration and interpretation has directly impacted the ongoing World Heritage nomination and Was illtegral to the appiicatiJii and subsequent ICOMOS assessment. Public benefit statement The trustees have had regard to Ihe Charity Commission for Northern Ire.land's guidance on PLJblic benptil anci they believe that this has been met through the achievements outlined in this repoti Achievements and performance Gracehill Old School During the year, activity has continued with a gradual increase in tours and community use of the facility, now having recovered to their pre-pandemic levels.
Gracehill Old School Trust Company limited by guarantee Trustees, Annual Report Year ended 31 March 2024 The Old Shop, 6 Montgomery Street, Gracehlll The building is now operational. hosling regular community activities including acting as a base for the return of a mobile library seNice to the village with regular activities for senior citizens and school groups. The holiday accommodation is now in use and has also been extensively used by visitors in connection with the World Heritage Nomination including hosting the International ICOMOS assessment panel. World Herltage Status The Trust has continued the efforts, now in their fvrfenty second year, to take forward the World Heritage bid that involves Gracehill as a constituent part of the Proposed "Moravian Church Settlements" transnational nomination to UNESCO in partnership with Bethlehem (USA), Herrnhut (Germany) and Christiansfeld (Denmark) During the year further progress was achieved following ihe nomination by the US Government to UNESCO in Paris. The formal assessment visit to the international sites including Grah111 was undertaken during the Summer of 2023. It is hoped that the outcome will possibly become known in Summer 2024. The Trust was fortunate to work in close partnership with Gracehill Moravian Church and was successful in achieving significant funding toward the costs of preparing the nomination documentation from Mid and East Antrim Borough Council and Historic Buildings DNision, Department of Communities. Tours The number of tours has continued to increase again in 2024, with a notable increase in international visitors, perhaps prompted by ongoing media interest. Financial review The financial results are as set out on 9-10 of the accounts. The challenges faced by the trustees in 2023.24 8re 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 wntribute 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 eases to be a member, for payment of the debts and liabilities of the company contracted before helshe ceases to be a member and of the costs, charges and expenses of winding-up and for the adjustment of the rights of the contributories amongst Ihemselves. 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 served 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 guarantee Trustees. Annual Report Year ended 31 March 2024 Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. This report was approved by tlie board on 28 November 2024 and sigii ed on behalf of the board by.. DrDa id John Johnston Trustee
Gracehill Old School Trust Company limited by guarantee Independent Examiner's Report to the Trustees of Gracehill Old School Trust Year ended 31 March 2024 We report on the accounts of the company for the year ended 31 March 2024 which are set out on pages 9 to 15. Respective responslblllties of trustses and examiner As Ihe charity trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the 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 sects'on 65 of the Charities Act (Northern Ireland) 2008., follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65{9)(b) of the Charities Act- and state whether particular matters have come to our attention. Basls of independent examlnerfs 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 matiers. Our role is to slate 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 with 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 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 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 ExamineVs Report to the Trustees of Gracehill Old School Trust Year ended 31 March 2024 Independent examlnerfs statement We have completed our examination and have no concerns in respect of the matters {1) to (4) listed above and. in connection with following the Directions of the Charity Commission for Northern Ireland. we have found no matters that require drawing to your attention. louw *- Potter Finnegan Itd ChaTtered Accouniants Unit 25 The Coutyard Business Park 190 Galgorm Road Ballymena Co Antrim BT42 1HL 28 November 2024
Gracehill Old School Trust Company limlted by guarantee Statement of Financial Actlvltles Year ended 31 March 2024 Unrestrlcted Restricted Total Funds Total Funds Funds Funds 2024 2023 Note Income from: Donations and legacies Charitable activities Other trading activities Investments Grants and other income Total Incoming resource8 6.738 6,738 15,500 65.964 23 59,678 132,403 65,964 23 89,678 162,403 72,190 30,000 30,000 63,716 151.408 Expendlture on: Raising funds Charitable activities Other expenditure Totsl expenditure (22,493> (22,493) (91,942) 1114,435) {38,386) (94,151) (132,537) (91,942) (91,942) 122,493) Net movement In funds 40.461 7,507 47,968 18,871 Reconciliation of funds Total funds brought fotward 554,381 (14.117) 540,264 521,393 Retained earnings at the end of the year 594,842 16,610> 588,232 540,284 All the activities of the company are from continuina operations. The notes on pages 12 to 15 form part of these financial ststemenls.
Gracehill Old School Trust Company limited by guarantee Balance Sheet 31 March 2024 Note Unrestrictsd funds Restricted funds Total funds 2024 Total funds 2023 Flxed assets Tangible assets Total fixed assets 1.149,339 1,149,339 1149 339 1,149,339 1,144 662 1,144,662 Current assets Debtors Cash at bank and in hand Totsl current assets 14,355 14,355 24,043 776 24,819 19,875 19,875 Llabilities Creditors: amounts falling due wlthln one year (63,639) {6,610) (70,249) (74,774) Net current a8setsl(Ilabilities) (43,764) (6,610) 150,374) 149,955) Total assets less current liabilitles 1,105,575 (6,610) 1,098,965 1,094,707 Credltors: amounts falling due after more than one year 10 (510.733) (510.733) (554,443) Net assets 594,842 (6,610) 588,232 540,264 Charity funds Unrestricted funds Restricted funds 11 11 594,842 594,842 (6,610) 554,381 (14,117) (6,610) Total charlty funds 594.842 {6,610) 588,232 540,264 For the year ending 31 March 2024 the company was entItd to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. D1CtOrS SpOnsIbl11t1es. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance 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
Gracehill Old School Trust Company Ilmited by guarantee Balance Sheet (contlnued) 31 March 2024 These financial statements have Deen prepared in accordance 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 28 November 2024, and are signed on behalf of the board by.. Dr Davld John Johnston Trustee Christie C Truste oun The notes on pages 12 to 15 form part of these financial statements.
Gracehill Old School Trust Company limited by guarantee Notes to the Financial Statements Year ended 31 March 2024 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 statements have been prepared under the historical cost convention and in accordance with Ihe Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP 2015),, issued in July 2014 and the Companies Act 2006. Accounting pollcies Basls of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain fi'nancial assets and liabilities and investment properties measured at fair value through profit or loss. The financial 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. Tangible assets Tangible assets are initially recorded at cost and are subsequently ststed at Cost less any accumulated depreciation and impairment losses. Any tsngible assets carried at revalued amounts are Corded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised In other comprehensive income and accumulated in capiial and reserves, except to the extent it reverses a revaluation decrease of the same asset pvIOuslY recognised in profit or loss. A decrease in Ihe carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the 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 Statements (continued) Year ended 31 March 2024 Depreciation 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 150 straight line If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciats'on is revised prospectively to reflect the new estimates. Government grant6 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. Incomlng resources from trading actlvltles Unrestrlcted Restrlcted Total Funds Funds Funds 2024 Total Funds 2023 Rental income Electricity and gas recharges other income 37.501 27.923 540 65,964 37,501 27.923 540 65,964 36,570 34,240 1,380 72,190 Total other expenditure Unrestricted Restrlcted Total Funds Funds Funds 2024 Total Funds 2023 Insurance Premises expenses Repairs and maintenance General admin expenses Legal and professional fees Bank interest Depreciation of fixed assets 1,255 43.729 21,272 1,475 7,091 11,802 1,255 43.729 21,272 1,475 7,091 11,802 5,983 91,942 5,586 49,361 18,860 2.091 3,178 9,092 5,983 94.1 $1 91,942 Taxation The company is a registered charity and does not carry out a trading activity. It is therefore exempt from taxation. 13
Gracehill Old School Trust Company limited by guarantee Notes to the Financial Statsments {continued) Year ended 31 March 2024 Tangible assets Fixtures Freehold fittings and property equipment Total Cost At 1 April 2023 Additions 1,130,509 9,995 48,088 1,178,597 9,995 At 31 March 2024 1,140,504 48,088 1,188,592 Depreciation At 1 April 2023 Charge ft)r the year At 31 March 2024 33,935 5.318 33,935 S,318 39,253 39,253 Carrying amount At 31 March 2024 1,140.504 8,835 1,149,339 At 31 March 2023 1,130,509 14,153 1,144,662 Debtors 2024 2023 Trade debtors Other debtors 12.275 2,080 21,921 2,122 14,355 24,043 Creditors: amounts falling due wlthln one year 2024 023 Bank loans and overdrafts Social security and other taxes Loans from trustees Other creditors 17,430 3.084 17,000 32,735 27,157 851 4,600 42,166 70,249 74,774 14
Gracehlll Old School Trust Company limited by guarantee Notes to the Flnancial Statements (continued) Year ended 31 March 2024 10. Credltors: amounts falling due after more than one year 2024 2023 Bank loans and overdrafts Deferred income 102,493 408.240 118,453 435,990 510.733 554,443 11. Summary of funds reconclliatlon Opening Balance Closing Expendlture Transfers Balance Income Unrestricted funds General 554,381 554,381 132 403 132,403 91.9421 (91,942) 594 842 594,842 Restricted funds World Heritage application 14,117 (14,117) 6,610 16,610 30,000 (22,493) 540,264 162,403 114,435) 588,232 12. Going Concern The trustees 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 concern basis and have not been amended in any way to reflect any impact of any potential going concern issues. 15