Charity registration number NIC102618 Company registration number N1171120 THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE. NOT HAVING A SHARE CAPITAL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL CONTENTS Page Legal and adminislrative information Trustees report Independent examiner's report Statement of financial activities Balan sheet Notes lo the financial statements 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 (Appointed 29 September 2023) {Appoinled 29 September 2023) (Appointed 29 September 2023) {Appointed 29 September 2023) (Appointed 14 April 2025) Mr B Maguire Mrs G McGirr Miss Sioned McGirr Miss A Conway Secretsry Martin Mccann (Resigned 29 September 2023) Charity number NIC102618 Company number Nl171120 Registered office 73 Dooish Road Dromore Co. Tyrone BT78 3BA Northern Ireland Independent examiner Moore {N.I.) LLP 32 Lodge Road Coleraine Co. Londondery Northern Ireland BT52 1NB Bankers AIB 2-4 East Bridge Street Enniskillen BT74 7BT
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 2024 The Trustees present their annual report and financial statements for the year ended 31 August 2024. The financial statements have been prepared in accordan with Ihe accounting policies sel out in note 1 to the financial statements and comply with the Charity's Memorandum and Articles of Associalion, the Companies Act 2006 and "Accounting and Reporting by Charities-. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective l January 2019). Objectives and activities The purposes of the charity as set out in its governing document. The objectives of the Company shall be to provide development and support lo the communities in Zambia for the furtherance of the relief of poverty. the advancement of education and olher charitable purposes by engaging in community development programmes to provide improved educational and other facilities so as to enhance future opportunities and development for people in Zambia The main activities undertaken in relation to those purposes in the year During the year the charity undertook to build a new secondary school for the community in Lusaka. Donations were received. Various building materials were purchased and shipped to the region to enable the work lo commence. A team of individuals travelled to Lusaka lo oversee the progress. The following is a summary of the different strands of work we are currently involved in. 1 Build a secondary school for 400 children in Chainda. 2 Establish a Pre and Posl-natal children nutritional dinic for expectant mothers from Chainda compoLtnd and local district. 3 Link QUB Belfast to UNZA, the Teaching Hospital of Lusaka. 4 Expand our Primary school in the parish to accommodate 250 children. S Install a water pump, sland and tank system for both of our feeder Primary schools and our Secondary school. 6 Construct a metalwork, woodwork and construction centre for practical learning and education on our secondary school sile. The charity raises funds in Northern Ireland but the charitable works are carried out in Zambia. Public benefit The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what aclivilies the Charity should undertake.
THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL TRUSTEES REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED> FOR THE YEAR ENDED 31 AUGUST 2024 The Co-ordinators have secured 7 acres of land from a private family, close to the Community centre and St Teresa's Primary School in Chainda. The land registry deeds for this land are lodged with the SMA Tyrone School. Our intention is to build a non-denominational. all abililies, secondary school for up to 1,000 children, boys and girls. Currently, in the compound, there are places available lor 150A - 20°/o of the children that are eligible lo go to secondary school. In many cases the families of Ihese children cannot afford lo pay fees or travelling costs to the few secondary schools in the city. This silualion compounds the already significani problems and lack of Options available to these children and young adults in regards to basic post primary education, personal health, life skills, career skills and availability of post 16year education choices. We have a successful primary school in St Teresa's and there are olher primary schools within 1.5km thal leach Ihe children from the nearby Compounds. Per student pla, secondary schoo5s are expensive to start up bul can make money as a business within 5 years, the profits are then used to improve the school resources and offer bursaries lo Ihe kids from less well-off families and the compounds. Currently Sr Clare are drawing up 3 and 5 year plans for both schools. Queens Uni Belfast, medical school are coming on board with medical support for our Chainda children. The basic school structure is similar lo Jim Brady's school on the T2 al MOOMBA . A single story building buill around a central courtyard with a high wide veranda and slrict access in 2nd out past the Principals office. The initial phase will cater for 400 students in 13 classrooms and conslruclion skills rooms. We will teach basic languages, maths, sCiencs, computers. home economics. personal development and health, sport, music and drama. The site requires the following construction projects completed. whether we have 100 children or 1,(M)O, .400 metres of safety perimeter wall and safety gales. 'Safe car drop off areas and traffic management, 'Upgrading of adjacent foot paths, 'Staff car and bike parking. 'Teacher accommodalion block. We intend catering for 1st year children this January with numbers growing in every term as facilities grow. We will have a cash shortfall until studenl numbers are over 150. So the sooner we get facilities in place the sooner the charity will run the way we foresee it, and be able lo offer real meaningful bursaries lo the pooresl children in Ihe compound lo set Ihem on a life course that they can only dream off. up to now. The Spirit of Paul McGirr do not work anywhere else in Africa.. we are dedicated lo this community, we know the community leaders Ihe rascals and rogues. we have employed most of them, we have a settled team of builders and electricians there for the last 18 months. We are in control of all the finances in the secondary school project and we gel constant informalion and feedback from the Principals and our fulltime Accountant.
THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Achievements and performance Significant activities and achievements againsl obieclives During the year the donations received enabled us lo continue to undertake the current secondary school building project, lo add to the successful build of the Tyrone school. The services and activities provided in previous years by the new primary school have benefited local children, and their parents. These services have offered educational opportunities for children in Ihe area, and also enable their parents lo go out and work. The secondary school will provide much needed addilional education support lo the older children in Ihe area. This has a double impact of helping lo develop the literacy of the community, and the economic circumstanS of families. Both of these are key foundations lo raising the standard of living for the oommunity, and the region as a whole. During the year the kevy wing and third side of the rectangle of the school construction was completed. The construction of three classrooms in the school triangle have been slarted in aulumn 2024. Fundraising praclic8S The charity relies on the donations from the donors identified as required in the accounts, whose support is valued. Financial review The Irustees consider the financial performance by the charity during the year lo have been satisfactory. Donations and income of £88,081 were received, with expenditure of £84,487 resulting in a surplus of £2.994. The main expenditure was on the new secondary school which continued its construction during the year, as well as travel costs to area. Reserves policy The reserves policy outlines the rationale for holding a specific level of resetves, aimed at instilling confidence in stakeholders regarding financial management and indicating future funding needs and resilience. Plans for future periods In the next year plans are sel lo finish the three classrooms and close the CLiutyard with kerbing and flowerbeds lo complete the courtyard and other plans include keibing the carpark. flowerbeds, entrance gates and gel the storage compound roofed. There is plans to secure the entire site with either high walls, fencing and safely gates with security guards. In addilion there will be a fenced urban garden with laying hens. plots of vegetables and fruit which will be managed as part of the H.E. teaching module. Structure. governance and management The Charity is a company limited by guarantee. not having a share capital. The Trustees, who are also the directors for the purpose of company law. and who setved during the year and up to the dale of signature of the financial statements were: Mr M H McGirr Mr F Donnelly Mr B Maguire Mrs G McGirr Miss Sioned McGirr Miss A Conway Ms Katrina McGirr Mr G P O'Donnell Mr M Mccann (Appointed 29 September 2023) (Appointed 29 September 2023) (Appointed 29 September 2023} (Appointed 29 September 20231 (Appointed 14 April 2025) (Resigned 29 September 2023) (Resigned 29 September 2023) (Resigned 29 September 2023)
THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL . TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Recrullmènt 8nd appntment ofthistees New trustees are Identlfied thfough V4Drd of rTr)uth. Thay come from the lo(¥l communlty so very often are well knOTr to existing membèr5 of the ttustees of Ihe charity, PotenU81 trustees 8re screened and 8ppolnted by a panel ¢omprislng of èxlsting twstees Incj1ng tha Chaltper50n. An acuve reLYultment process Is not undertaken as Ihe thanty Is o)mpletety communlty.drlvèn wllh Its membeTs and tNst80s all belng from the lo¢al area. None of the Trustees has any beneficial Interest In the company. AJI of thè Tntstees are members of the cfjmpAny and guarantee to oJntntsute £1 In thè event of a winding up. 0ry8nlsational stnidurn Thè Splrit of Paul McGitr Is governed ty Its Memorandum and AJlldas of Assodauon dat 18th June 2008. It Is reglstered the Chaiity Commlsslon for Northem Ireland on 301h Juty 2015. The Truslees report was approved by Ihe Board of Trustees. ffjicL@ Tq) Mr M H McGlrr Trustee ., Mr B Magulre 30 Octobèr 2025
THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SPIRIT OF PAUL MCGIRR I report to the Truslees on my examination of the financial statemenls of The Spiril of Paul McGirr {the Charity) for the year ended 31 August 2024. Responsibillties and basis of report The Iruslees, who are also Ihe directors of The Spirit of Paul McGirr for Ihe purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject lo audit under company law, and is eligible for independent examination, il is my responsibilily to.. examine the accounts under section 65 of the Charities Act follow the prOdreS laid down in the general Directions given by the Charity Commission for Northern Ireland under section 6519llb) of the Charities Act state whether particular matters have come to my attention. Basis of independent examineVs statement I have examined your charity accounts as required under section 65 of the Charities Acl and my examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 65{gllbl 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 included consideration of any Lrnusual items or disclosures in Ihe accounts, and seeking explanations from you as charity Iruslees concerning any such matters. My role is lo slate whether any malerial matters have come to my attention giving us cause lo believe.. That accounting records were not kept in accordance with section 386 of the Companies Act 2006 That the accounts do nol accord with those accounting records That the accounls do not comply with the accounting requirements of seclion 396 of the Companies Act 2006 and with the melhods and principles of the Charities Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland That there is further information needed for a proper understanding of the accounls to be reached. Independent examiner's qualified statement I can confirm that l am qualified lo undertake the examination because l am a registered member of Chartered Accounlanls Ireland which is one of the listed bodies. I have completed my examinalion and I believe that allention should be drawn to the following matters. I have identified matters of conrn Ihat give me reasonable cause to believe that Ihe accounts prepared for the company are not fully compliant with the accounting requirements of section 396 of Companies Act 2006 and have not been prepared fully in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. The Trustees have prepared a Statement of Financial Activilies incorporating an income and expenditure account. However sufficient records have not been maintained. It has been difficult lo allocate funds with certainty between restricted and unreslricled funds and this also impacted the financial statements for the year ended 31 August 2024. Accordingly, all funds have been treated as unreslricled. Records of income and expenditure have been maintained for examination but these are incomplete. The charily has recorded income from donors totalling £88.081 but limiled documentation has been retained to confim origin.
THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE TRUSTEES OF THE SPIRIT OF PAUL MCGIRR Whilst the charity operates a current bank account, we understand thal the bank will not permit Ihe trustees lo Iransfer funds abroad to help finance the building of a school in Zambia. This means that monies have been transferred directly to the bank accounts of trustees and a business of one of the Iruslees. The trustees have then transferred the funds abroad. During the year £75,960 was transferred from the charity's bank account lo Iruslee bank accounts. Given exchange rate differences it has been difficult to lie up payments exactly from the charity bank accounl (via the truslees. bank accounts) lo the bank account in Zambia l understand that the Irustees are endeavouring io change banks to allow them to transfer funds abroad directly. Whilst the accounts have been prepared on the going conrn basis. the charity continued lo be reliant on financial support from a former trustee. The outstanding balan due to Ihem at 31 August 2024 was £11,771 (2023.. £11,771). The trustees 3re content that this sitLration is temporary and have prepared the accounls on a going concern basis. I confirm that there are no other matters to bring to your attention. Dr R I Peters Gallagher OBE FCA for and on behalf on Moore {N.I.) LLP Chartered Accounlanls 32 Lodge Road Coleraine Co Londonderry Northem Ireland BT52 1 NB Dated.. 30 October 2025
THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted funds 2024 Unrestricted funds 2023 Notes Income from". Donations and legacies Other trading activities 88,081 54.410 500 Total income 88,081 54,910 Expenditure on: Raising funds Charitable aclivilies 150 84,337 56,025 Total expenditure 84,487 56,025 Net incomellexpenditure} and movement in funds 3,594 {1,1151 Reconcillation of funds: Fund balances at 1 September 2023 {600) 515 Fund balances at 31 August 2024 2,994 {600) The statement of finanual aclivilies includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies.
THE SPIRIT OF PAUL MCGIRR A COMPANY LIMITED BY GUARANTEE, NOT HAVING A SHARE CAPITAL 4 . BALANCE SHEET AS AT31 AUGUST2024 2024 2023 Not Curront assets Debtors Cash at bank and in hand 12 30 40,335 14,471 18.365 Crodltorn: amounts falllng du• wlthln onè year 14 (3,600) (3,300)_ Net current a58ets 14.786 Credltors: amounts falllng dug after more than one year. 16 (11.771) Ngt a5setsl(Ilablllttes) (600) Tha funds of tho ChArfty Unrestriraed funds 16 2.994 (600) 2,994 (600) The company Is entitled to the exemption from the audit wuSrement contalned In seeuon 4T1 of the Compantes Act 2006, for the year ended 31 August 2024. The dlrectors 8(*nowledge thelr responslbllities for comptying with the requirements of the Companies Act"2006 with respect to accounting records and Ihe preparation of finandal statements. The members have not required the company to obtaln an audlt of Its financlal statements lor the.year In questson In, :.. accordance with sectlon 476. These financial statements have been prepared in a(X0rdan with the provisions applicable to companies subject. to the small crjmpanles regime. The financaal statements were approved by the Trusteas on 30 October 2025 Mr M H McGlrr Tru6te• Company regislration number N1171120 (Northem Ire18nd)
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 AUGUST 2024 Accounting policies Charity infonnation The Spirit of Paul McGirr is a private company limited by guarantee incorporated in Northern Ireland. The registered Offi is 1.1 Accounting convention The financial statements have been prepared in accordanc£ with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charilies SORP "Accounting and Reporting by Charities= Statement of Recornmended Practice applicable lo charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities not to prepare a slalement of cash flows. The financial slalemenls are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial slatemenls are rounded lo the nearest £. The financial statements have been prepared under the historical cosl convention, Imodified lo include the revaluation of freehold properties and to include inveslmenl properties and certain financial instruments at fair valuel. The principal accounting policies adopted are set out below. 1.2 Going concern These financial statements are prepared on the going COnM basis. Therefore Trustees have a reasonable expectation that Ihe Charily will continue in operational existence for the foreseeable future. 1.3 Charitsble funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Reslricled funds are subject to specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set oul in the notes to the financial slalemenls. Endowment funds are subject lo specific condilions by donors that the capital must be maintained by the Charity. 1.4 Income Income is recognised when the Charity is legally entitled to il after any perfom7ance conditions have been mel. the amounts can be measured reliably. and il is probable thal income will be received. Cash donations are recognised on receipt. Other donations are recognised once 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 Gift Aid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or otherwise 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 treated 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 2024 Accounting policies {Continued) 1.5 Expenditure Expenditure is recognised once Ihere is a legal or Gonslruclive obligation to transfer economic benefil to a third party, il is probable thal a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each aclivily. Direcl costs allributable to a single activity are allocated direclly to that activity. Shared costs which contribule lo more than one activiiy and support costs which are nol allributable to a single activity are apporlioned between Ihose activities on a basis consistent with the use of resources. Cenlral staff costs are allocated on Ihe basis of lime spent, and depreciation charges are allocated on the porlion 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, other short-lerm liquid investments with original maturities of Ihree months or less. and bank overdrafts. Bank overdrafts are shown within rrowingS in current liabilities. 1.7 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Olher Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial inslrumenls are recognised in Ihe Charitys balance sheet when the Charity becomes party lo Ihe contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off Ihe recognised amounts and Ihere is an intention lo settle on a net basis or to realise the asset and setlle the liability simultaneously. Basic linancial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless Ihe arrangement conslilutes a financing transaction, where the transaction is measured al the present value of the future receipts discounted at 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 arrangemenl conslilutes a financing Iransaclion, where the debt instrument is measured at the present value of the future paymenls discounted at a market rate of interesl. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade creditors are obligalions to pay for goods or setvices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Chariws 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 2024 Accounting policies (Continued) 1.8 Employee benefits The cost of any unused holiday enlillement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Charity is demonslfably committed to lerminale the employment of an employee or to provide termination benefits. Critical accounting estimates and judgements In the application of the Charity's accounting policies, the Trustees are required lo make judgements, eslimales and assumptions about the carrying amount of assets and liabililies that are not readily apparent from other sources. The eslimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from Ihese estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which Ihe estimate is revised where the revision affects only that period, or in Ihe period of the revision and future periods where Ihe revision affects both current and future periods. Income from donations and legacies Unrestricted funds 2024 Unrestricted funds 2023 Donations and gifts 88,081 54,410 Income from other trading activities Unrestricted Unrestricted funds funds 2024 2023 Fundraising events 500 Expenditure on raising funds Unrestricted Unrestricted funds funds 2024 2023 Fundraising and publicity Advertising 150 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 2024 Expenditure on charitable activities 2024 2023 Direct costs Hire of equiptment Bank charges New school project Sofvare 432 121 79,374 432 134 53,647 12 79,927 54,225 Share of support and governance costs (see note 7) Governance 4,410 1,800 84,337 56,025 Analysis by fund Unrestricted funds 84,337 56,025 Support costs allocated to activities 2024 2023 Governance 4,410 1,800 2024 2023 Governance costs comprise: Accountancy 4,410 1,800 4,410 1,800 Net movement in funds 2024 2023 The nel movement in funds is slated after chargingl(crediting)= Fees payable for the independent examination of the chariws financial statements 4,410 1,800 Trustees None of the Trustees (or any persons connected with Ihem) received any remuneration or benefits from the Charity during Ihe year. 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 2024 10 Employees The average monlhly number of employees during the year was.. 2024 Number 2023 Number Tolal There were no employees whose annual remuneration was more than £60,000. 11 Taxation The charity is exèmpl from taxation on ils activities because all ils income is applied for charitable purposes. 12 Debtors 2024 2023 Amounts falling due within one year: Other deblors 30 13 Loans and overdrafts 2024 2023 Loan from former trustee 11,771 11,771 Payable afler one year 11,771 11.771 The balan of loans owed lo former trustee Fionnuala Colton al the year end was £11.771. It has been agreed that this will be repaid when the charity has available funds. 14 Creditors: amounts falling due withtn one year 2024 2023 Accruals and deferred income 3,600 3.300 15 Creditors: amounts falling due after more than one year 2024 2023 Loan from former tnjslee 11,771 11,771 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 2024 16 Unrestricted funds The unreslricled funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and granlors as lo how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At1 September 2023 Incoming resources Resources At 31 August expended 2024 Lusaka, Zambia 16001 88,081 184,4871 2,994 Previous year: At1 September 2022 Incoming resources Resources At 31 August expended 2023 Lusaka, Zambia 515 54,910 (56,025) {600) 17 Related party transactions At the start of the year the opening balance of the interest free loan provided by a former trustee lo 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 the charity has Ihe available funds. This amount is included in the creditors section in the balance sheet. During Ihe year the charity Iransferred £75,960 lo trustee Michael McGirr. Michael, subsequently transferred £75,960 to SMA Fathers in Zambia. During the year £2,567 was transferred lo trustee Frankie Donnelly to reimburse credit card expenses for the conslmclion of Tyrone School Zambia. which is lorAted in Lusaka. Zambia. The bank will noi permit Ihe charity lo transfer funds abroad. 15-