Unaudited Financial Statements Wil]iam MacA]ister Settlement No. 2 For the year ended 31 December 2023 Wllllam MacAlister Settlement No. 2 Contents Page Reference and admlnlstratlvo details of the Trust. Its Trustees and advlsers Tru$tge's report Indepgndent examlner's report Statement of flnanclal actlvlties Balance sheet Notes to the flnanclal statements 9-15 Wllllam MacAlSster Settlement No. 2 Reference and admlnlstratlve detalls of the Trust, Its Trustees and advlsers For the year ended 31 Deeember 2023 Trustees Clexver Fulton Raithin Trustees Limited, Trustee Charlty reglstered number 103368 Prlnclpal offlcè Clcai'er Fulton R2nkin TIustees Limitcd 50 Brdfvrd Streei Bellast BT2 7FIV Accountants Grant Thornton (ND LLP Clislriered Accountants 12 - 15 Doncgall Square Ivest Bclfast BTI 6JH Page I Wllllam MacAllster Settlement No. 2 Trustee's report For the year ended 31 December 2023 Tlie"frustee presents theAr annual report togetl)er ivitl) tl)e F￿anCIal statements of tlie Trust for tlie JanuAr)' 2023 to 31 December 2023. Tlie charttyi registration number is 103368 and the re￿Stered o[f￿e is 50 Bedford Street. Belfast, BT2 7FIX Objectives and activities a. Pollcles and objectlves I'lie Trust's objective 15 to provide funds to Neivtoivncroinmelin Presb)Tterian Cliurcli to assist ivitli PalTjiig the 5Alat)t of tlie minister of thc church or in tl)e alternative to P2}, for the servicc5 of an otgani8¢ oi cai'etak"cr Of the churcli. b. Maln actlvltles undertaken to furthèr the Trust's purposès for the publlc beneflt Tlie Tru5r's main puipose 15 to manage tlie ini'estmcnts and ply tlie net income Irom rliose investiiients to aiigment Ilie income of the fvlinister of the Nffivtoivncrommelin Presb}'terian Churcli. The direct benefits ivliicli floiii Iroin tlie piovision OF lunds to Neivtoivncrommelin Presb)Tteri%n Cl)urcli include the salar), of tlie minisrer iii tlie cliiiicli vliicli in ttiin alloiv5 tlie cliutcli to continue to adi'atice the Cliristian fftitli and tlie belicf iti its ptiiiciples b)T raisiiig aivarene5s and understanding in tlie local area And among tlie congregauon lor pubkn'c ivorsliip. TIIL direct beiieffjt5 are demonstrared tlirougli iegulAr evaluation of tlic iequiteinent And uselulness ol tlie PioiTlSlOti ol luiids iJ)d lioiv this pIomotes understanding and aivareness ol tlie Christian faith. Achievements and petformanee a. Revlew of actlvltles Tlie Trust cotiunued to providc lunds to the Cliurcli duriiig the )Tear, and tlie Trustee is pleased ivith Ilie resiilts 'of the Trust tlitoughout tlie year. b. Investment pollcy and performance Tlie Trust manages a pottfolio and pA)ps the net income geneiAted Iiom tliat portfolio on a periodic bASlS to tlie Neivtoivncrommelin Presbyterian Church. Finaiicial tevieiv a. Resetvès pollcy Tlie'frust holds reserves sufFicteiit to meet tlie da}1 to daji rcquiremen(s of operations. b. Financlal ovoThlew Duriiig tlic }rear tlie trust made a loss of £139 (2022 _10ss £11.318)- At tlie end of thc }'ear, the chality, liTrd assets ol £66,197 (2022.. £65,735) 2nd liabilitie5 01 £1,801 (2022- £1.200). Tlic net funds of tlie cl)aiity, liaire decreased b), £139 (2022.. decieAsed b), £11,318), ajid tlic trustees are sausfied ivitli rlie leiTel of retaincd lunds at tlie )iear end. Of tlic nct fiinds at 31 Dcceinber 2023 of £64J96 (2022.. £64.535) is attiibutable to restricted funds. Page 2 Wllllam MacAllster Settlement No. 2 Trustee's report {contlnued) For the year ended 31 December 2023 . Golng Concern After inaktng approptiate enqullies, tlie trustee has a ieAsonable expectation tliat the Trust lias adequate iesouices to contiiiue in operAtional eiistence for tlie foreseeablc futtire. For this reason tlieji continue to Adopi tl)e going concein basis in ptcparing tlic fmancial statemcjits. Futtlier details regarding tlie adoptioi) of tlie going concern bA5is can be found in die Accounting Poliaes. Sttuctutey govetiiance and maftagement Constltutlon Tlie trust deed stfttes tliAt tlie principAI activit), of tlie trust is to proivide funds to Neivtoivncroinniclin Presb}tteriati Cliurch to ASS15t iwth pa)Ffing the salar), of the minister of tlie cliurcli or li) tlie 21tern2tiI'e to pa), foi tlie services of An organist or caretaker of tlie cliurcli. Tliere have been no cli2nges in tlie objectives since the last annual report. b. Methods of appolntment or electlon of Truste8 The in2nagement of tlie Trust ts tlie rc5ponsibility OF tlie Trustcc ivl)o are clected atid co-opted undcr tlie terirjs of tlie Settlement Dccd. Cleaver Fulton Rankin Ttustees Limited ivas tlie sole trustee durAng tlie currciit and piior )rear. Tlie directors of Cleaver Fulton Rankin Twstees Limited are: IC L Blait J Fortester M K G Graham Statement of Tn4Stee's re$ponslbllltles Tlie Trustec is re5poiisible for preparing tlic T￿stee,$ report and" tlie financial stAtementS lll accordance iiTltli appltclble laiv and United Kingdom Accounting Standaids (United Kingdom Generall}, Acccpted Accounting Practice Tlie laiv applicable to charities in Northem Ireland requires tlie Trustee to preparc financial staiements for eacli f￿anCIal ivliicli giipe 2 true and fftii viuv of tlic state of aff2ir5 of tlie Trust Rnd of its incomijig rcsources And 1pplicAtion of re50111ces. includitig its ffincome and &¥pendituIe. for diat period. In preparing tlic5e financi21 stateinents, the Trustee is required to.. Select suitable accounting policies And tlien %ppl)T tliem consistentl) obseiiie the metliods and principlcs ol the Cliariues SORP (FRS 102). m2ke judgements and accounting estimates t113t are reasonable And prudeIit; state ivhetlier applicable UK Accounting Standards {fRS 102) Iiai'e been folloivcd. Subject to anjy i]iaterial departures disclosed and explained in tlie f￿1￿cIAl stAtements- ptepare the financial statements on tlie going concern bASiS unless it is Jnai)propri2te to presume tliAt tlie Trust ivill continue in business. The Trustee Are responsible For kecpfjng adequate accounting records thar are sufficient to 51ioiv and explain tlie Trust's tr%nsaction5 and disclose ivitli reasonable accurac!, 2t an}, tiine tlie fjnancial POSLUoii of tlie Trust ftiid eiiable tliem to ensure tliat tlie financiAI statements compl}T ivitli the Chaiities Act (Nortl)ern IrelAod) 2008, Ilie Cliaiities (Accouiit5 atid Repotts) Regulations (Noithern Ireland) 2015 And tlie piovisions of tl)e Trust deed. The)T Are also re5pon5ible for safeguarding tlie a55ets of tlie Tiust and Iience loi taking reAsoiiable steps for tlie preitention and dctectioIi of fraud qnd otlier irregularities. Approved b)F oider of the membcrs of the board of Trustee on 29 April 2024 and signed on tlieir bclialf b),: Page 3 Wllllam MacAllster Settlement No. 2 Trustee's report Icontlnued) For the year ended 31 December 2023 Cleaver Fill (riustec) n Rattkin Ttiistees Limited P4e4