Charity Commission for NI: 103642 

THE CAPTAIN G M F IRVINE MEMORIAL TRUST TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 







## THE CAPTAIN G M F IRVINE MEMORIAL TRUST 

## TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2025 

The trustees present their annual report and the financial statements of The Captain G M F Irvine Memorial Trust for the year ended 5 April 2025. 

The financial statements have been prepared in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities” (FRS 102) and the Charities (Northern Ireland) Act 2008. 

## Reference and Administration Details 

The reference and administration details of the charity are as shown on page 2. 

## Objectives and Activities 

## Objectives 

The objectives and purposes of the charity are: 

- e preserving for the local community and the County of Fermanagh the Irvine Estate lands at Killadeas, County Fermanagh unspoiled and properly maintained and the protection of botanical, bird, animal, insect and other species on the lands in so far as they are owned by the Charity. It is intended that the lands be climate change positive in that it is the intention that there will be a positive stance against development and that the lands will be kept as a wildlife natural haven for the protection of various species existing thereon which is considered to be a benefit for humanity and the environment. There will be no harm save that normal but monitored agricultural activity will be carried out on the agricultural lands as is necessary to maintain and use them together with necessary woodland and estate management with a view to maintaining the lands as above in perpetuity. It is not anticipated that there would be any private benefit; 

- e the advancement of religion particularly support for the ministry of the Bishop, clergy and laity of the Church of Ireland diocese of Clogher by devotional retreats, prayerful study and reflection. It is intended that the small dwelling house on the lands will be utilised as a retreat for members of the clergy and laity of the Church of Ireland diocese of Clogher to relieve stress and increase wellbeing and to assist such clergy in performing their duties; 

- e the advancement of education on religious, cultural, social and environmental issues. Apart from as stated above it is anticipated that the lands will be used for educational visits and research in relation to the botanical, bird, animal, insect and other species on the lands. It is intended that this will benefit those who participate in advancing their education on these matters and that it will advance knowledge of these matters. Apart from any risk in walking over the lands, where it would be intended to take the necessary safety precautions, no harm is anticipated and no private benefit is anticipated; 

- e the making of donations to such charitable institution, body, fund or trust or institutions or bodies, funds or trusts and otherwise for such charitable purposes as the trustees of the charity decide. It is intended that any such would be to a registered charity and as such, if in Northern Ireland, the public benefit requirement would by definition be satisfied. 

## Activities 

The charity will manage the finances, land and buildings, maintaining and repairing the assets of the Irvine Estate. The income of those assets are to be applied for the purposes set out above in the Objects paragraph. The Rev G P Irvine died on 31 December 2019 and the assets of the Irvine Estate are in the process of being distributed. Whilst some pecuniary distributions have had been made by the 5 April 2025, the full estate had yet to be finalised. 

3 

## THE CAPTAIN G M F IRVINE MEMORIAL TRUST 

## TRUSTEES’ REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2025 

## Public Benefit Statement 

The trustees of The Captain G M F Irvine Memorial Trust confirm that they have complied with their duty under section 4(b) of the Charities Act (Northern Ireland) 2008 to have regard to the Charity Commission for Northern Ireland’s guidance on public benefit and that the public benefit requirement has informed the activities of the charitable trust in the year ended 5 April 2025. 

## Achievements and performance 

During the year ended 5 April 2025, the charitable trust received net incoming resources of £38,118, mainly from income and dividends received from investments held in the portfolio managed by Evelyn Partners. 

## Financial Review 

## Financial Performance 

The results for the year are set out in detail on pages 7 to 13. The charitable trust returned net incoming resources for the year of £38,118 (2024: £1,245,376). 

## Reserves policy 

The charity does not have a reserves policy. 

## Structure, Governance and Management 

## Organisational Structure 

The Captain G M F Irvine Memorial Trust is a charity, registered with the Charity Commission for Northern Ireland on 13 October 2015. 

The charity is governed by the trustees, none of whom has a beneficial interest in the charity. They are assisted in the day ~~-~~ to ~~-~~ day running of the charity by: Crawford Lockhart Black, solicitors; Riverbank Estate and Land Management Ltd; and Evelyn Partners. 

The names of the trustees who served during the year are set out on page 2. 

## Taxation status 

The trust is recognised as a charity by HM Revenue & Customs. 

4 

## THE CAPTAIN G M F IRVINE MEMORIAL TRUST 

TRUSTEES’ REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2025 

## Trustees’ Responsibilities Statement 

The trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable trust for that year. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and apply them consistently; 

- observe the methods and principles in the Charities SORP (FRS 102); 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable trust will continue in operation. 

The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable trust and to enable them to ensure that the financial statements comply with the Charities (Northern Ireland) Act 2008. They are also responsible for safeguarding the assets of the charitable trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

; This report was approved by the Board on 

30 January 

2026 and signed; on ;its behalf by: 

M.AscdWD bg 37 

Mr Michael D Watt 

## Charity Commission for NI number: 103642 

5 

# 30 January 2026 


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## THE CAPTAIN G M F IRVINE MEMORIAL TRUST 

STATEMENT OF FINANCIAL POSITION AS AT 5 APRIL 2025 

||||||||||||||||||Note|2025|2024|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||||||||£|£|
|Fixed Assets||||||||||||||||||||
|Investments|||||||||||||||||5|1,204,000|1,217,459|
|Current Assets||||||||||||||||||||
|Cash|||at||bank and in|||hand||||||||||97,518|52,056|
|||||||||||||||||||97,518|52,056|
|Payables: amounts falling||||||||||||||||||||
|due <br>Net||within one year<br> Currentassets<br>/(liabilities)|||||||||||||||6|(5,400)<br>92,118|(3,000)<br>49,056|
|Net||Assets|||||||||||||||7|1,296,118|1,266,515|
|REPRESENTED BY:||||||||||||||||||£|£|
|Designated Funds|||||||||||||||||8|-|-|
|Unrestricted Funds|||||||||||||||||8|-|-|
|Restricted||||||Funds|||||||||||8|1,296,118|1,266,515|
|TotalFunds||||||||||||||||||1,296,118|1,266,515|



The notes on pages 9 to 13 form an integral part of these financial statements. 

These financial statements were approved and authorised for issue by the trustees and signed on their behalf by: 

MAaed Db, 507 

Mr Michael D Watt 

30.01.2026 

Date: 

_ 

Charity Commission for NI number: 103642 

8 

## THE CAPTAIN G M F IRVINE MEMORIAL TRUST 

## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 

## 1. GENERAL INFORMATION 

The Captain G M F Irvine Memorial Trust is a charity, registered with the Charity Commission for Northern Ireland. 

The address of the registered office is as shown on page 2. 

The charitable trust constitutes a public benefit entity as defined by FRS 102. 

## 2. ACCOUNTING POLICIES 

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charitable trust’s financial statements. 

- 2.1 Statement of Compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

## 2.2 Basis of Preparation 

The financial statements are prepared on a going concern basis under the historical cost convention unless otherwise stated in the relevant accounting policy. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charitable trust’s financial statements: 

2.3 Income and Endowments 

## Charitable Activities 

Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions. It is recognised as earned as the related services or goods are provided. Grant income included in this category provides funding to support projects and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. 

## 2.4 Expenditure 

Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods and services are supplied. Where costs cannot be directly attributed to a particular heading they have been allocated to activities on a basis consistent with use of resources. Staff costs and overhead expenses are allocated to activities on the basis of staff time spent on those activities. 

## Charitable activities 

This compromises all the resources applied by the charity in undertaking its work to meet its charitable objectives. Charitable activities will include the costs of governance arrangements to the general running of the charity. 

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## THE CAPTAIN G M F IRVINE MEMORIAL TRUST 

## NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 5 APRIL 2025 

## ACCOUNTING POLICIES (continued) 

## 2.5 Fund Accounting 

The charitable trust has one type of fund for which it is responsible at the year ~~-~~ end: 

Restricted Funds ~~-~~ Income received for specific purposes. Such purposes are within the overall aims of the charity. 

## 2.6 Investments 

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. 

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. 

## 2.7 Taxation 

As a charity, the charitable trust is not liable to Income or Corporation Tax. 

## 2.8 Trade and other receivables 

Trade and other receivables are initially recorded at fair value and thereafter stated at cost less impairment losses for bad and doubtful debts. 

## 2.9 Trade and other payables 

Trade and other payables are initially recognised at fair value and thereafter stated at cost. 

## 2.10 Critical accounting estimates and judgements 

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates 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 estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised were the revision affects only that period, or in the period of the revision and future periods were the revision affects both current and future periods. 

Critical judgements in applying the entity’s accounting policies There are no critical judgements in applying the charitable trust’s accounting policies. 

Critical accounting estimates and assumptions There are no accounting estimates in applying the trust’s accounting policies 

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## THE CAPTAIN G M F IRVINE MEMORIAL TRUST 

## NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 5 APRIL 2025 

## ACCOUNTING POLICIES (continued) 

## 2.11 Cash and cash equivalents 

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. 

## 2.12 Going Concern 

The financial statements are prepared on a going concern basis. Taking account of the risk review undertaken by the trustees, they do not consider there to be a risk to the going concern status of the charitable trust. 

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## THE CAPTAIN G M F IRVINE MEMORIAL TRUST 

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 5 APRIL 2025 

|3.<br>Income|||||||||||||Unrestricted|Unrestricted|Restricted|Restricted|Unrestricted|Unrestricted|Restricted|Restricted|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||Funds||Funds||Funds||Funds||
||||||||||||||2025||2025||2024||2024||
|||||||||||||||£||£||£||£|
|Income from charitable|||||||||activities:||||||||||||
|Bequest from|the Irvine|||||||Estate||||||-<br>-||-<br>-||-<br>-|1,243,742<br>1,243,742||
|Investment income:|||||||||||||||||||||
|Bank deposit interest||||||||||||||~~-~~|1,692|||~~-~~|1,834||
|Dividends||||||||||||||~~-~~|31,326|||~~-~~|1,548||
|Investment interest||||||||||||||~~-~~|13,876|||~~-~~|2,266||
|||||||||||||||~~-~~|46,894|||~~-~~|5,648||
|Total Income||||||||||||||~~-~~|46,894|||~~-~~|1,249,390||
||||||||||||||||||||||
|4.<br>Expenditure<br>Activities|||||||on||Charitable<br>Unrestricted<br>Funds||||||Restricted<br>Funds||Unrestricted<br>Funds||Restricted<br>Funds||
||||||||||||||2025||2025||2024||2024||
|||||||||||||||£||£||£||£|
|Legal fees||||||||||||||-||-||-|1,326||
|Investment portfolio|||||charges|||||||||~~-~~|6,376|||~~-~~||288|
|Accountancy fees||||||||||||||~~-~~|2,400|||~~-~~|2,400||
|Total<br>expenditure|||||||on_||charitable|||||~~-~~|8,776|||~~-~~|4,014||
|activities|||||||||||||||||||||



## 5. Fixed Asset Investments 

||||||||||||2025|2024|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||£|£|
|Market|||value||brought||forward||||1,217,459|~~-~~|
|Additions to investments||||||||at|cost|||1,203,526|
|Other transactions|||||||||||(4,944)|~~-~~|
|Surpluses||||on|disposal, reinvested||||||5,320|~~-~~|
|Net gains / (losses) on revaluation|||||||||||(13,835)|13,933|
|Market|||value||atyear||end||||1,204,000|1,217,459|



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## THE CAPTAIN G M F IRVINE MEMORIAL TRUST 

## NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 5 APRIL 2025 

## 6. Payables: amounts falling due within one year 


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2025 2024<br>£ £<br>Other creditors, accrued expenses and deferred income 5,400 3,000<br>5,400 3,000<br>**----- End of picture text -----**<br>


## 7. Analysis of net assets 


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|||||||||
|---|---|---|---|---|---|---|---|
|Designated|Unrestricted|Restricted|Designated|Unrestricted|Restricted|
|Funds|Funds|Funds|Funds|Funds|Funds|
|2025|2025|2025|2024|2024|2024|
|£|£|£|£|£|£|
|Investments|-|-|1,204,000|-|-|1,217,459|
|Current|Assets|-|-|97,518|-|-|52,056|
|Current|Liabilities|-|-|(5,400)|-|-|(3,000)|
|-|-|1,296,118|-|-|1,266,515|

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## 8. Analysis of funds 


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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Designated|Unrestricted|Restricted|Designated|Unrestricted|Restricted|
|Funds|Funds|Funds|Funds|Funds|Funds|
|2025|2025|2025|2024|2024|2024|
|£|£|£|£|£|£|
|At|5|April|2024|-|-|1,266,515|-|-|7,206|
|Income|-|-|46,894|-|-|1,249,390|
|Expenditure|-|-|(8,776)|-|-|(4,014)|
|Revaluations|gains|/|
|(losses)|-|-|(8,515)|-|-|13,933|
|At|5|April|2025|-|-|1,296,118|-|-|1,266,515|

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