TEMPLEMORE AVENUE SCHOOL TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The trustees present their annual report and financial ststements for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles of Association, the Companies Act 2006 and "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 (FRS 102) (effective 1 January 2019)" Objectives and a¢tlvltles The trustees have taken cognisance of the Charity Commission for Northern Ireland's guidance on public benefit as defined in the Charities Act (Northern Ireland) 2008. Templemore Avenue School Trust {'The Trust,) operates an East Belfast Nerk Cenlre and the objects of The Trust are specifically restricted to the following:" To promote Ihe benefil of the inhabitants of East Belfast (the "area of benefit") without distinction of age. sex, race or political, religious or other opinions by all or any of the following means.. The advancement of communily development by providing resources, facilities and amenities for community and voluntary groups and ofganisalions. The provision of public amenities. The conversion. retention and preservation of a listed building known as Templemore Avenue School, being a place of historical and architectural interest. The promotion of such other charitable purposes as may from time to time be determined. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achlevements and performance During the year the Trust carried out the following functions.. Continued to have full occupation status. Continued to review a number of M&E items in the building, as the building has now been functional for 9 years. Continued with the core function of providing quality office accommodation aimed at the community and voluntary sedor in East Belfast and those statutory organisations providing a service in East Belfast. Provided meeting, seminar and conference facilities for the community and voluntary sector in East Belfast and for other organisations delivering their work for the benefit of East Belfast. During this period we provided meeling space for 356 meetings, conferences. seminars and training events for 8,800 people. Replaced the boiler system after 8-9 years of nothing but problems with the original boiler system. Flnanclal revlew The Trust is a non-profit making organisalion. The results for the year are set out in detail on page 10. The Trust returned net outgoing resources for the year of £58,004 (2022 - £83,823). The deficit is primarily attributed to the large depreciation charge of £81.557 in relation to the property and related fixtures and equipment held by the charity within its restricted funds. At 31 March 2023, the total funds of the charity amounted to £2,855,737 (2022 £2,913,741), Comprising restricted funds of £2,695,51412022 - £2,768,814) and unrestricted funds of £160,223 {2022- £144,927).
TEMPLEMORE AVENUE SCHOOL TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Reserves Policy The directors, policy on reserves is to relain a sufficient amount to ensure that any unforeseen costs can be met. The unrestricted reserves of The Trust at 31 March 2023 amounted to £160,223 which included free reserves of £121,835. The trustees have assessed the major risks to which the charity is exposed. and are satisfied that systems are in place to mitigate exposure to the major risks. Plans for Future Perlods The directors have no significant plans to alter the activilies of the charity in future periods. Structure, governance and management The charily is a company limited by guarantee. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. Samuel Douglas Mervyn Gibson Maire Hendron Joseph O'Donnell Catherine Purdy Beverley Brown Gareth Wright (Appointed 20 October 2023) None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. anisational Struct re The Trust was established under a Memorandum of Understanding which established the objects and powers of the company and is governed under its Articles of Association. The Trust is governed by the Board of Trustees. The Board of Trustees consists of the Chairperson of East Belfast Community Development Agency (the parent company). current trustees of the parent company and other persons appointed by ordinary resolution. A trustee appointed by a resolution of the other trustees must retire at the next Annual General Meeting, but is eligible for re-election. New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making process, the business plan and reGent performance of The Trust. They are free to discuss any issue with other trustees. Michael Briggs is appointed lo supervise the day to day operations of the company. There is no remuneration paid lo Mi¢hael Bri99s by The Trust in relation lo this role. Risk Mana ement The trustees have reviewed the key risks facing The Trust and have established procedures to manage those risks. The Trust does not have significant liabilities or financial commitments and Ihe truslees have prepared projections that indicale that the impact on the charity will not be significant.
TEMPLEMORE AVENUE SCHOOL TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Statement of Trustees. responslbllltles The trustees, who are also the directors of Templemore Avenue School Trust for the purpose of company law. are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom GenerallyAccepled Accounting Practice). Company 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP: make judgernenls and estimates that are reasonable and prudent., and stale whether applicable UK Accounting Slandards have been followed, subject lo any material departures disclosed and explained in the financial statements; prepare the financial slat&menls on the going concern basis unless 11 is inappropriate to pSUme that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy al any lime the financial position of the charitable company and enable them lo ensure that the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection ol fraud and other irregularities. Audltor In accordance with the company's articles, a resolution proposing that GMCG BELFAST be reappointed as auditor of the company will be put at 8 General Meeting. Small companles exemptlon In preparing this report. the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. Taxatlon Slatus The ¢ompany is recognised as 8 charity by HM Revenue and Customs. Accordingly, the company has availed of Ihe exemptions contained in Chapter 3 Part 11 Corporation Taxes A¢1 2010 and Section 256 Taxation of Chargeable Gains Act 1992. DSsclosure of Inlorniatlon to audltor Each of the trustees has confimied Ihal there is no information of which they are aware which is relevant to the audit, bul of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that Ihe auditor is aware of such information. The Trustees, Report was approved by the Board of Trustees. Samuel Do Trustee glas Dated..