Charity registration number NIC102618 Company registration number N1171120 THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE. NOT HAVINGA SHARE CAPITAL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGUST 2023 THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL CONTENTS Page Legal and adminislralive information Truslees report Independent examinerfs report Statement of finanaal activities Balance sheet Notes to the finanual statemenls 10-15 THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr M H McGirr Mr F Donnelly (Appuiiileij 29 Seyleilibei" 2023) (Appoinled 29 September 2023) (Appainled 29 Seplember 2023) (Appointed 29 September 2023) (Appointed 14 April 2025) Mr B Maguire Mrs f McCJirr Miss Sioned McGirr Miss A Conway Secretsry Martin Mccann (Resigned 29 September 2023) Charity number NIC102618 Company number N1171120 Registered office 73 Dooish Road Dromore Co. Tyrone BT78 3BA Northern Ireland Independent examiner Moore IN.1.) LLP 32 Lodge Road Coleraine Co. Londonderry Northem Ireland BT52 1NB Bankers AIB Main Street Ballyshannon Co. Donegal THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2023 The -I"ruslees present their annual report and fi"nanaal statements tor the year ended 31 Aug(5s12023. The financial statements have been prepared in accordance with the accounling policies set out in note 1 to the financial statements and comply with Ihe Charills Memorandum and Articles of Association. the Companies Act 2006 and "Accounting and Reporting by Chari118s: Statement of Recommended Practice applicabla to charitie8 preparing their accounls in accordance wilh the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102)" (effective l January 2019). Objectlves and activities The purposes of the charity as set out in its governing documenL The objectives of the Company shall be to provide development and support to the communities in Zambia for Ihe rui IlieidliLe uf IliE ieliel o)r puvei ly, Ilie Ilot (118bllltlesya88ets (600). 5.15 The funds oftho Chatlty Unre5tricled fvnds '... 15 <800) 515 (600) The o)mpany is entilted to the exampllon from the audit requlrement Contained In section 477 of.the Companl¢s Act 2006, for the year ended 31 August 2023, The diredors ackn￿￿edge th￿r responslbllltlos for complylng y￿1h the requlrements of the Coropan. les Act 2006;.*. wth respeca to a￿oUnting re￿rdS and the preparation of finandal statements.. Th6 members have not required the company to obtsln an audlt of Its fjnanaal slatements for Ihe y.ear.in.quesllon in x- aC￿)rdanc9 vllh sectton 476. These financial ststements have been prepared In accordance Y41th the provislons appllcabla to comi)anles subjert,: to th& small companies regSme. The finandal sfatements were approved by the Truste8s on 30 Octotier2025 Mrm H McGlff Company registralion number N1171120 (Northem Ireland) THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2023 Accounting policies Charity inforniation The Spirit of Paul McGirr is a private company limiled by guarantee incorporated in Northem Ireland. The registered office is 1.1 Accounting convention The financial slalements have been prepared in accordance with the Charity's governing documenl, the Companies Act 2006. FRS 102 'The Financial RetK)rting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 (FKS 102)" I he Lharily is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in Ihe SORP for charities not to prepare a slatement of cash flows. The financial statements are prepared in sterling. which is Ihe functional currency of the Charity. Monetary amounts in these financial stalemenls are rounded to the nearest £. I he finanaal slalements have been prepared under the historical cost convention, Imodified lo indude the revaluation of freehold properties and to include investment properties and certain financial instruments at fair valuel. The principal accounling policies adopted are set oul below. 1.2 Going concern These financial statements are prepared on the going concern basis. Therefore Trustees have a reasonable expectation Ihal the Charity will continue in operalional existence for the foreseeable future. The chafily relies on continuing support from trustees. 1.3 Charitable funds Unreslricled funds are available for use at the discretton of the Trustees in furtherance of their charitable objectives. Reslficled funds are subject to specific condilions by donors or grantors as lo how they may be used. The purposes and uses of Ihe restricted funds are sel out in the noles lo the financial statements. Endowment funds are subject to specific condth-ons by donors that Ihe Capital must be maintained by the Charity. 1.4 Income Income is recognised when Ihe Charity is legally entilled lo it after any perfomiance conditions have been met, the amounts can be measured reliably. and il is probable that income will be received. Cash donations are recognised on receipt. Other (lonations ale recognised On￿ the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation lo donations received under Gtft Aid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or olheThiise if the Charity has been notified of an impending dislribulion. the amount is known, and receipt is expected. If the amount is not known, the legacy is Irealed as a conlingenl asset. 10- THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng pollcies {Ctsntinuedl 1.5 Expenditure Expenditure 15 recognised once there is a legal or constructive obligation lo transfer economic benefit lo a third party. it 18 probablo that a transfer of economic benefits will be required in settlement. and the amniinl nf the obligation can be measuied reliably. Expenditure is Classified by activity. The costs of eath activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activily. Direct costs allributable lo a single acllvlty are allocated diivGlly lo Ilial aGtivity. ohared costs which contribute to more than onc aolivily and support costs which are not attribulable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. f.p.ntrAI slAff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks. olher short-term liquid investments wilh original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.7 Financsal instruments The Charliy has elected Iu dpply Ilie provisions of Section 11 'Dasic Financial Instruments, and Scclion 12 'Other Financial Instrumenls Issues. of FRS 102 to all of its financial inslrumenls. Financial inslTuments are recognised in the Charilrfs balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in Ihe financial statements, when there is a legally enforceable right to set off the reGognised amounts and there is an intention to settle on 2 net basis or lo realise the asset and settle the liabilily simultaneously. Basic financial assets 82sic financial assels, which include debtors and cash and bank balances, are initially measured at transaction price including Iransaclion costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the Iransaclion is measured al the present value of the fulure receipis discounted al a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constilules a financing transaction. where the debt inslrument is measured at the presenl value of Ihe future payments discounted at a market rate of interest. Financial liabilities classified as payable wilhin one year are not amortised. Debt instruments are subsequenlly carried at amortised cost. using the effective interest rate method. Trade creditors are obligation.g 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 wilhin one year or less. If not, Ihey are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequentSy measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Charily's contractual obligations expire or are discharged or cancelled. 11 THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng policies (Continued) 1.8 Employee benefits The cost of any unused holiday entillement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Charily is demonstrably committed to terminate Ihe employment of an employee or to provide temiinalion benefits. Critical accounting estimates and judgements In Ihe application of the Charily's accounting policies. the Trustees are required to make judgements, estimates and assumptions aboul the carrying amount of assels and liabililies that are not readily apparenl from other sources. The eslimales 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 eslimales and undedying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognisèd in Ihe period in which Ihe estimate is revised where the revision affects only that period, or in the period ol the revision and future periods where the revision affects both current and future periods. Income from donations and legacies Unrestricted Unrestricted funds funds 2023 2022 Donations and gifts 54.410 66.863 Income from other trading a¢tivities Unrestricted Unrestri¢ted funds funds 2023 2022 Fundraising events 500 9,335 12 THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Expenditure on Gharltable actlvltle5 2023 2022 Direct costs Advertising Hire of equiplment Bank charges Surplusl deficit on exchange New school project Software 54 432 137 432 134 53,647 12 58,708 54,225 59,339 Share of support and governance costs (see note 6) Governance 1,800 1,800 56,025 61,139 Analysis by fund Unrestricted funds 56,025 61,139 Support Gosts allocated to activities 2023 2022 Governance 1,800 1.800 2023 2022 Governance cosls comprlse: Accountancy 1,800 1,800 1,800 1,800 Net movement in funds 2023 2022 The nel movement in funds is stated after chargingl{crediling)= Fees payable for the independent examination of the charilvs financial statements 1,800 1,800 13- THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Trustees None of the Trustees {or any persons connected with them) re￿iVed any remuneration or benefits from the Charity during the year. Employees The average monthly number of employees during ihe yearwas: 2023 Number 2022 Number Total There were no employees whose annual remuneration was more than £60,000. 10 Taxation The charity is exempt from taxation on ils activities because all its income is applied for charitable purposes. 11 Debtors 2023 2022 Amounts falling due within one year". Olher debtors 14,293 12 Loans and overdrafts 2023 2022 Loan from former truslee q1,771 11,771 Payable aftei one year 11,771 11,771 The balance of loans owed to former Iiustee Fionnuala Collon al the year end was £11,771. It has been agreed that Ihis will be repaid when the charity has available funds. 13 credito￿.. amounts falling due within one year 2023 2022 Other creditors Accruals and deferred income 1,800 1,500 3.300 3,300 3.300 14- THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 14 Creditors: amounts falling due after more than one year 2023 2022 Loan from former trustee 11,771 11,771 15 Unrestricted funds The unreslricled funds of the Gharily comprise the unexpended balances of donalions and giants which are not subject lo specific condllions by donors Lirid gidiilvis as lo liow tliey may be used. These include designated funds which have been set aside oul of unreslticled funds by the trustees for speafic purposes. At1 September 2022 Incomlng resources Resources At 31 August expended 2023 Lusaka, Zambia 515 54,910 (56,025) 1600) Previous year: At1 September 2021 Incoming Tesources Resources At 31 August expended 2022 General funds (14,544) 76,198 {61.139) 515 16 Related party transactions Al the start of the year the opening balance of the interesl free loan prowded by a former Iruslee to the charity was £11,771. This balance of loan owed was from Fionnuala Colton who resigned on 15th January 2022. It has been agreed that this will be repaid when Ihe charity has the available funds. This amount is included in the creditors section in the balance sheet. During the year the charity transferred £37,700 to trustee Michael McGirr. Michael, subsequently transferred £37,700 to SMA Fathers in Zambia. At the start of the year the balance owed by Michael McGirr lo the charity was £13.673. this balance was paid off in full during the year. Jones McGirr & Co Ltd, a company that Michael has a controlling interest in, at the beginning of the year the company owed £620. This balance was repaid in fijll during Ihe year. During the year £15,850 was transferred to Injslee Frankie Donnelly for the construction of Tyrone School Zambia. which is located in Lusaka. Zambia. The bank will not permil the charity to transfer funds abroad. 15-