The Limestone Trust Ltd {A cOrnpy IIMh by gsJ•rnnt••. not h#¥ing ¥ ¥h•f• c•pltall Annual Report and Unaudlted Financial Statements for the financlal year ended 31 March 2024 Malon• A¢ccwntSng Ltd 12 C4useway Road Newcastle County Down BT33 ODL Comp•ny Numlw. N1034L¥)8 Charlty Number. 103551
The Limestone Trust Ltd {A ¢offlp4ny Ilmlt•d ty guar•n•. not hwlng * •h•fv •1) CONTENTS Pg• Trustees. and Other Informatron Trustees, Annual Report Statement of Trustees, Responsbilities Independ1 Examinefs Rewt Stalerrth of Fin¢t Attivities Bakrre Sheet 10 Notes to Financial Ststements
The Limestone Trust Ltd IA company Ilmlted by gtsarantoo. ftot tta¥lng a share upllall TRUSTEES. AND OTHER INFORMATION Trusteeg Nicole Doherty Wlliam Mcllroy Noelle McClinto(* Charity Numb•r In Northem Ireland 103551 Company Registration Nurnb•r N1034008 Reg18t•red Offico and Princlpal Addr• 10-12 Rosemary Street Belfast BT1 1QD Independent Examin•r Malone A¢¢ounts'ng Ltd 12 Causeway Road Newse County Down BT33 ODL Prlnclpal B•nk•r4 Danske 183 Donegall Square West Belfast 8T16JS
The Limestone Trust Ltd IA Gornpany limited by guarantro. not havtng a share upltall TRUSTEES, ANNUAL REPORT for the finanoal year ended 31 March 2024 The trustees psent Iheir Trustees. Annual Report. combining the Direciors, Report and Trustees, Report. and the unaudited ffinancial ststements for the financial year eThJed 31 March 2024. The finartial statements are prepared in accordan wrth the CLYnpanies Act 2OJ6. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Iland. and Accounling and Reporting by Charities.. Sialement of Recommended Practice ap l¢able to charities preparing their financial statements in accordance wilh the Financial Reporting Standard applicable in the UK aTrJ Republic of Ireland (FRS 102). The Trustees, Report contains the Informati( reqUId to be provided in the Tntstees, Annual Report under the statement of Recommended Practs"ce {SORP} guidelines. The trustees of the company are also charty Iwstees fof the poSe of chanty law and under the company's o)nstitutw are known as members of the board of Ifuslees. In this report the trustees of The Limestone Tnjst Lld present a summary of its purpose, governan. actNities. achievements and finan5 for the financial year 31 March 2024. The Charity is a registered charity and he the report and results are presented in a fom which complies with the requ1MentS of the Companies Act 2006 and. athough Tl obliged to comply with the Ststement of Recommenclecl Practi applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations Whe evant in these financial ststements. Mission. Objectives and Strategy Objectives The principal activity is to support community and Charitab groups that work in north Belfast. to improve peoples. life ski115 and general wellbeing. The Trust aims to promote personal grovrth that enables IndivU31$ to make informed life choi$ and lo encourage their posibve engagement with the communitr'es in which Ihey live. There Is no private benefit. The Trust Conside support fof a wde range of activities acros$ North 8elfasl and will allocate fijnds to local community groups and registered charbti"es. Structure, Govemance and Management Governance The charity is incorporated in United Kin9d(xm. }MpanY number N1034008. under the rutes and memorandum and a'¢le5 of assoaat.on dated 16 Apnl 1998. It is a company limited by guarantee. Charitable statu5 The Linestone Tntst Ltd is a registered charity with the Charity Commission in Northem Ireland, registration number NIC 103551. It is also recognised as a charity for taxation purposes by HMRC. registration number N100071. Appointrnent ol Trustees The charity is managed by a l)oard which ¢$[Sts of all the appointed trustees. The charity has 3 trustees on its board. Try were appointed as trustees for thwr necessary skills and exrerience and the charity has aulnonty within its rules to appoint them. Trustee induction and training Each Trustee received induction trainiro through whtch they are made aware of their gaI oblwJatK)ns under ch3rity and company law, the content of the memorandum and article5 of association. the governance structure. the committee and decision making processes, the business plan and reont finanoal perfomiance of the charity. Flnancial Review Financial Performance in the year to 31 March 2024 is consistent with our expectations. a defia't of £3.249 The year ended with a general fund balarTr of £603,454 (compared to £61.703 } for the same period last year. Detailed accounts can te fourvj in the finanoal 5taiements. Income Income receipts for the year totalled £10.204.all of which is investrnent income. The TN$Vs ino)me is all unrestricted and remains consistent with 9viouS perforrnan.
The Limestone Trust Ltd IA Company limitod by guaf•nts•. not having a sharn capiLg11 TRUSTEES. ANNUAL REPORT for the finanaal year ended 31 March 2024 Expendlturn No nt was paid in 2024. Grants totslling £11,625 were distributed to charities and voluntary or9anisab.ons during year, details of which can be found on page 12. Financlal R••ull8 At the end of the finanoal year the chanty has assets of £606.761 {2023 - £610.011 } aTrd li8bilrties of £3,308 (2023 . £3,308). The net assels of the ch8rty have decreased by £{3.250). Reserves Position and Pollcy Financial Managemenl and Reserves Policies The board of trustees meets the requirements of the Charibes Act 2011. Ihe Charity Commission guidelines "Intemal Financial Controls for Chantses. and "Arxounbng and Reporbrmj by Charitses. Ststement of Recomrnended Practs'ce (Revised 2005).. The General fund is unrestricted arKI is used for the day to day operation of the charity. Reserves are held in bank accounts. At the 31 March 2024 . Ihe General Fund had a balance of £603,453 (compared to £606.703 0131 March 2023). Maintaining a substantial reserrfe will better allow tr charity to meet the lunding challenges which the wider economic situation may impose. Investment policy The charity has inbpsted cash reserves in a deposit account of £302,386 included in cash at bank and rt has anoth8r small invesknenl of £2437. Prln¢lpal Rl•k• and Un¢•rtalnll Risk Management The Trustees do not consvjer there to be snificant risks lor the charity. There is the rtsk of fraudulent claims for funding through an application by a local organtsation. however that is why the Trustees have a robust vetting process. The TrLL8tees have a nsk management strategy ¥thich comprises.. - An annu81 feview of the principal risks aTrY uncertainbes that t1 charity facés.. The establishment of policies. systems and procedures lo mitigate tha88 risks identified in the annual review.. and - The implementatyon of procedures desyned lo mlMe or manage any potential impact on the chanty should those risks materialise. Plan8 for futur• periods The future plans for the charity are to conts'nue to support the hxal organisations it already assists with grant funding. The Trustee$ affj currently revie¥Mng Ihe model they use for vethng and approving the grants. Tru•tee• The trustees who serrfed throughout the fin0a1 year. exCl as noted. were as ft)Ilows.' Nicole Doherty Wlliam Mcllroy Noelle Mcclintock In accordance with the memorandum a$ arb.cles of association. the trustees retire by rotation and, being eligiblè, offer themselves for re-election. Pay Poll¢y lor S¢nlor SLqff The charity has no employees and Tntstees are not ramunerated for their worf(. nor are any out of po(*et expenses paid to Trustees.
The Limestone Trust Ltd IA ¢ompany Ilmllèd by guarant80, not havlng è share capital) TRUSTEES. ANNUAL REPORT for the financial year endèd 31 March 2024 Compllance wlth Se¢tor-VVide Legislatlon and Standards The charity engages pro-actively with legislation. standards and codes which are developed for Ihe sector. The Limestone Trust Ltd subscribes lo and is compliant with the following.. The Companies Act 2006 The Chanlies SORP IFRS 102) Approvèd by th• 8oard of Tru8te•• on 5 September 2024 and 8igned on its behalf by: Wllllam M¢llroy Tru8ts9
The Limestone Trust Ltd IA company limlted by ouarantB•. not having a sharn capltsl) STATEMENT OF TRUSTEES. RESPONSIBILITIES for the financial year ended 31 March 2024 The trustees, who are also direGtor5 of The Lwnestone Tnjst Lid for the purpo of company law, are responsible for preparing the financial statements in accordan with applicable law and regulations. Company law requires the Irustees as the directors to prepare finanrial stslements for each financial year. Under thal law the tnJstees have elected lo prepare the financial statements in accordance with United Kingdom Generally Apted Accounling Practice (United Kingdom Accounting Standards and applicable lawl including FRS 102 "The Financial Reporting Standard applicab in the UK and Republic of Ireland" Sethon 1A (Small Entities). Under company law the tnjstees must not approve the financial statements unless they are satssfied that they give a true and fair view of the stste of affairs of the company and of the surplus or defficit of the CApanY for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and apply them consistenY', make judgements and esbmat8S that are reasonable arKI prudent; stale whether the financial statements have been prepafed In accordano with the relevant financial reporting framewofk, idenbfy those standards. and note the effect and the reasons for any material departu from those standards., and prepare the financial statements on the goirtrJ conc•m basis unless il is inappropriate to presume that the charity will continue in operation. The tru51ees confim that they have compl*d with the above requirements in preparing the finaTraI ststemenls. The trustees are responsible for keeping adequate accounts'n9 records that are suffirient lo show and explain the ¢harity'S transactions and disclose wrth reasonable affuracy at any time the financial posrtion of the tharity and enable them to ensure that the finanual statements comply with They are also responsible for safeguarding the assets of the charity and hence for taking reasoftab steps for the prevention and detection of fraud and othef irragularilies. Approved by th• Board of Tfustees on 5 Soptomb¢r 2024 and Signed on Its behalf by: Illlam M¢llroy Trust••
The Limestone Trust Ltd IA ¢ompany limltsd by guarantse. not having a share capltall INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF THE LIMESTONE TRUST LTD We have examined th8 financial statements of the charity for the finandal year ended 31 March 2024, which comprise the Statement of Financial Acb"vitses lincorporaling an Income and Expenditure Accnuntl, Ihe Balance Sheet and the related notes. This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our work has been undertaken so thal we might compile the financial statements that we have been engaged lo compile, report lo the Board of Trustees that we have done so. and state those mattars that we have agreed lo slate to them in this report and for no other purpose. To the fullest exient pemitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members, as a body, lor our work, or for this report. Regpecllve r•8pon8lbllltle8 of Iru8te•8 and examlner The chanty's trustees (who are also the direclots of tha eompany for the purposes of company lawl are responsible for the preparation of the financial statements in accordan with the requirements of the Companies Act 2006. rhe charity's Iruste8s consider that an audit is not required for this finanaal year under Chapter 3 of Part 16 of the Companies Act 2006 and that an independent examination is required. It is our responsibility to.. examine the financial slalements under section 65 of the Charities Acl., follow the procedures laid down by the general Directions given by the Charity Commission for Northgm Ireland under section 6519llbl of the Charities Act, and state whether particular mattèts have come lo our attèntion. B•81• of indop•ndonl •xamin•rf8 report We have examined your charity financial statements as qUired under section 65 of the Charities Act and our ex8minatson was carned out in accordance with the general Oirectsons given by the Chanty Commission for Northern Ireland under $eGlion 6519llbl of the Charities Act. An examination includes a Trview of the accounting records kept by tho charity and a CC>mpaiison of the financial slaternents piesented with those records. 11 also includes consideralion of any unusual items or disclosur8s in the financial statements and seeking explanations from the trustees Gonc4rning any suGh matter5. Tho procedures urndertaken do not provide all the evidence thai would be required in an audit and consequently no opinion is given a5 to whether the accounts present a 'tru8 and lairf view and the report is limited lo those matters set out in the statement below. In connects'on wilh our examinalion, no matter has come to ovr attention which gives us cause to believe that in, any malerial respect.. aceountsng records were not kept in accordance with section 386 of tha Companies Act 20C6 the financial statements do not accord with those accounting records the finanual slalements have not been prepared in accordance with the accounting requirements ol section 398 01 the Companies Act 2006 and with the methods and principles of the Stslement ol Recommended Practice applicable to charities preparing thèir accounts in attordan¢e wilh the Financ1 Reports'ng Slandard applicable in the UK and Republic of Ireland {FRS102} there is fvrther information neede¢Y for 8 proper understanding of tha accounts to be reached. Indepgndont examlner's statsment We have no concerns and have Prne across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the financial statements lo be rea¢hed. Aldan Malone IF MALONE ACCOUNTING LTD 12 Causeway Road Newcastle County Down BT33 ODL Date: 5 SepteMr 2024
The Limestone Trust Ltd IA company limlt•d by guaraniee. not IVIng a capitsll STATEMENT OF FINANCIAL ACTIVITIES Iln¢orpor•ting an Incom• and Exponditur• Account) frjr the financial year ended 31 March 2024 Unr•strlcted Funds 2024 Total Unrestricted Funds Funds 2024 2023 Total Funds 2023 Notes Incoming Resources Investments 10.204 10,204 6,762 6,762 Re•ource8 Expended Raising fiJnds Charitable acb'vities 647 12.807 647 12.807 61,430 61,430 Tot•1 R••our¢H Exponded 13.454 13.464 61,430 61,430 N•1 Incomlnglout9olng resources before transfers (3.250) (3.250) (54,668) 154,668) Gross transfers behveen fijnds N•t mov•m•nt In funds for the flnanclal year 13,250) (3,260) (54.668) 154,888) R•¢onelllatlon of lund•: Total funds beginnirvJ of the year 14 606,703 606,703 661,371 661,371 Total funds at tha end ol th• year 603.463 603,463 606,703 606,703 The Statement of Finanaal Activitr'es includes all gains arKI losses recognised in the finanoal year. All income and expenditure relate to continuing activit9. The notes on pages 11 to 15 form part of the finanoal Statements
The Limestone Trust Ltd IA company limltèd by guarantee. not havlng a sharn capital) Company Nurnber.. N1034008 BALANCE SHEET as at 31 March 2024 2024 2023 Notes Fixed Assets Tangible assets 299,555 299.555 Current Assets Debtors Investments Cash at bank and'in hand 10 11 2,383 2,437 302,386 2,383 2,437 305,636 307,206 310.456 Creditors: Amounts falling due wlthin one year 12 13,3081 13,3081 Net Current Assets 303.898 307,148 Total Assets less Current Liabilities 603,453 606.703 Funds General fvnd (unrestricted) 603,453 606,703 Total funds 14 603,453 606,703 These financial statements have been prepared in accordance with the special provisions ¢lating to small companies within Part 15 of the Cornpanies Act 2006. For the ffinancial year ended 31 March 2024 the charity was enb'tled lo exemption from audit under section 477 of Ihe Companies Act 2008., and no notice has been deposited under section 476. The trustee5 confirn Ihat the members have not required the company to obtain an audit of its financial statements for the financial year in question in aGcordance wilh section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which Comply with section 386 and for preparing financial stalements which give a true and fair view of Ihe slate of affairs of the charity as al the end of the financial year and of its profft and loss for the financial year in accordance with the requirements of sections 394 and 395 ané which otherwise comply wilh ltte requirements of the Companie5 Acl 2006 relating to firrancial ststements, $0 far as applicable to the charity. The financial statements have been prepared In accordan with the provisions applicable to companies subject to the small companies, regime and in accordanc£ with FRS 102 "Thè Financjal Reporting Standard applicable in the UK and Republic of Ireland" applying Section 1A of that Standard. Approved by the Board of Trustees and authorised for Issue on 5 September 2024 and slgned on its behalf by William Mcllroy Trustee The notes on pages 11 to 15 form part of the finanoal slalemenls 10
The Limestone Trust Ltd IA company Ilmltod by guaranige, not having a Sharn ¢apltsll NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 GENERAL INFORMATION The Limestone Trust Ltd is a company limited by guarantee incorporated in Northern Ireland. The wislered office ol the company is 10-12 Rosemary Street. Belfast, BT1 1QO which is also the principal Pla ol business of the company The financial statements have bèen presented in Pound (£) which is also the functional CUTf8ncy of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The follt)wing accounting policies have been applied consistently in dealing with items which are Considered rnaleThal in relation to the charity's financial stalemenls. 8asl8 of prnparatlon The financial 5tatemènls have been prepared on the going concèrn basis under the historical cost convention, modified lo include trtain Items at fair value. The financial statements have been prepared in accordancé with the Statement ol Re¢ommended Practice ISORPI 'A¢untIng and Reporting by Charities preparing their aco?unts in accordanc8 with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Sects'on 1A of that Standard. As pèmitted by the Companies Act 2006, the charity has varied the stsndard formats in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the slandard fomats are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. Stat•m•nt ol compllance The finanoal glalement5 of the charity for the financial year ended 31 March 2024 have tséen prepared on the going concem basis and in accordan with the Statement of Recommended Practice ISORP) "Accounting 8nd Reporting by Chafities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Slandard. Incomlng R••our¢•s Voluntary income or capital is included in the Statement ol Financial Activities when the charity is legally entitled lo il, its financial value can be quanb'fied wilh reasonable certainty and there Is reasonable certainty ol its ullirnale reClp1. Enlillemenl lo legacies is considered established when the charity has been notified of a +Ji8tribution to be made by Ihe executors. R•80urc•8 Expended All resourcas expended are accounted for on an accrLfrals basis. Charitable activits.es include costs of seryices and grants. support costs and depreciation on related assets. Costs of generabng funds similarly include fundraising activities. Non-staff costs not attributed lo one category of activity are allocated or apF4)rtioned pro-rata to the staffing ol the relevant servio. Governance costs are those associated with constitutional and statutory requirements. Tangible lixed 98sets and depre¢iation Tangible fixed assets a ststed at cost or 8t valuatr'on, less accumulated depreci8tion. The charge to . deprecialion is calculated to write off the original cost or valuation of tangible fixed assets, less thèir estimated residual value. over their expected uselul lives as follows.. Buildings freehold 4% Stfaight line Inv•8tm•nts Debtors Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued al Ihe amount prepaid net of any trade discounts due, Income recognised by the the chanty from govemmenl agencies and other co-funders, but not yet received at year end, is included in debtors. Cash at bank and In hand Cash al bank and in hand comprises cash on deposit at banks requiring less th8n three months notice of withdrawal. 11
continued The Llmestone Trust Ltd {A Gompany Ilmit•d by guarantee, not havln9 a shave ¢apitall NOTES TO THE FINANCIAL STATEMENTS for Ihe finanaal year ended 31 March 2024 Taxatlon No Cunt or deferred taxation anses as the chanty has been granted charilable exernpts"on. Irrecoverable Valued added lax is eypensed as incur. Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and SeGtion 12 'Other Financial Instruments Issues, of FRS 102 to all of its finanaal instruments. The charity has only financial assets and financial liabilities of a kind that qualify a5 basic financial instruments. Basic financkql instruments are inits'ally fecognised at transacts'on value aThd subsequenty measured at their settlement value. SIGNIFICANT ACCOUNTING JUOGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY There ale no accounbn9 judgements or key sources of estimation by TN$tees in preparing the financial statements. INCOME INVESTMENTS Unre•trl¢t•d R•8trict•d Fund$ Funds 2024 2023 Rent a Interest Received 10,204 10,204 6,762 EXPENDITURE CHARITABLE ACTIVITIES Dlr•ct Costs Oth•r Co818 Support Costs 2024 2023 Lighthouse Small Steps The Parent Rooms Governance Costs (Note 5.3) Nl Versus ArthrilFS NSPCC Assisi Animal Sanctuary The Mill Hill Missionar Support Costs Kinship Care Marie Curie Emerald ABC National Autistic Society Nl Wave Trauma Centre Carers Nl Bodyshol Gym 6,000 2,325 1.SOO 1.182 1.000 1.000 500 300 6,000 2,326 1,500 1,182 1,000 1,000 500 300 591 1,000 1,CQO 500 300 50,289 soo 500 2,500 1,000 1,500 1,000 750 12.807 12,807 61.430 GOVERNANCE COSTS Direct Costs Other Costs Support Costs 2024 2023 Charitable actNth'es - sY)vemance costs 1.182 1,182 591 12
continued The Limestone Trust Ltd IA company Ilmit•d by guarnnt•e. not havlng a sharn capitsll NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 ANALYSIS OF SUPPORT COSTS 2024 2023 Insuran Bank Charges Renl Legal & Profe$8ional fees Rates Repai General Offio Expenses 1.3( 112 33.165 1.038 12.465 1,980 223 101 647 .SO,289 NET INCOMING RESOURCES 2024 2023 Not Incoming Re8oure•s aro slated aft•r ¢h•rglngl(crndltlng): Independent Examinerfs remuneration.. independent examination servic•s 1,182 INVESTMENT AND OTHER INCOME 2024 2023 Bank interest 6,304 1,862 TANGIBLE FIXED ASSETS Totsl Bulldlng• fr•#hold Cost Al 31 March 2024 299.555 299,555 N•t book valu• At 31 March 2024 299.555 299.556 At 31 March 2023 299.555 299.555 10. DEBTORS 2024 2023 other debtors 2,383 2,383 2,383 2,383 11. INVESTMENTS 2024 2023 2,437 2,437 12. CREDITORS Amounts falllng due wtthln ono ye•r 2024 2023 Accruals and deferred income 3,308 3.308 13
ntinued The Limestone Trust Ltd {A company Ilmlted by guarants•, not having a sh•rn capitsll NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 13. RESERVES 2024 2023 Al the beginning of the year Deficrt for the financial year 606.703 (3,2501 661.371 154.6681 At the end of the year ' 603.453 606,703 14. FUNDS 14.1 RECONCILIATION OF MOVEMENT IN FUNDS Unre8trfcted Funds Total Funds At 1 April 2022 Movement dunng the financial yeaf 661,371 154.668) 661,371 {54,668) Al 31 March 2023 Movement during the finanoal year 606.703 13,2501 606,703 13.250) At 31 March 2024 603,453 603.453 14.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 April 2023 Ineome Expendlture Transfers between funds Balance 31 March 2024 Unrostriet•d fund8 General 606.703 10,204 13.454 603.453 Total funds 606.703 10.204 13.454 603,453 14.3 ANALYSIS OF NET ASSETS BY FUND Flxed assets - charlty use Current assets Current liabllltieg Total Unrestricted general fvnds 299.555 307,206 13.308) 603.453 299,555 307,206 13,308) 603.453 15. STATUS The tharity is limited by guarydntee not having a share capital. The liab.lity of the mernber5 is limited. Every member of Ihe ccmpany undertakes to contribute to the assets of the company in tre event of its being wound up while they are members, or withtn one year thereafter. for the payment of the debts and liabilities ol the cfjmpany contracted before they aSed to be memters. and the costs, cmarges and expenses of wnding up, and for the adjLlStment of the nghts of the contfibutors am9 themselves. such amount as may be required. not eXdIng £ 1. 16. RELATED PARTY TRANSACTIONS None of the trustees have teen paid any remuneration or CeIVed any other benefits from an employment with their charity or a related eniity_ 14
continued The Limestone Trust Ltd IA company Ilmited by guarantee. not havln9 a shar& capital) NOTES TO THE FINANCIAL STATEMENTS for the finanaal year ended 31 March 2024 17. POST-BALANCE SHEET EVENTS There hava been no significant events affectin9 the Charity since the financial year4nd. 15