TEMPLEMORE AVENUE SCHOOL TRUST TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The tNstees present their annu81 report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in a¢¢ordance 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 Recornmended Practice applicable to charities proparing their accounts in a¢¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019)" Objoctivos and activFlie8 The trustees have tsken ¢ognisance of the Charity Commission for Norlhern Ireland's guidan on public benefit as defined in the Charities Act (Northern Ireland) 2008. Templemore Avenue School Trusl ('The Trust,) operates an East Belfast Nelwork Centre and the obje¢ts of The Trust are specifically restrict8d to the following:" To promote the benefit of Ihe 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 Ihe following means.. The advanGement of community development by providing resources, facilities and amenities for communwty and voluntary groups and organisations. The provision of public amenities. The conversion, retention and preservation of a listed building known as Ternplemore Avenue School, being a place of historical and architectural interesL 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 Chaiity Commission in deciding what activities Ihe charity should undertake. A¢hievements and pèrfomiance During the year the Trust carried out the following functions: Continued lo have full occupation status. Continued to review a number of M&E items in the building, as the building has now been fundional for 11 years. Continued with the core function of providing quality office accommodation aimed at the community and voluntary se¢tor in East Belfast and those statutory organisations providing a servi¢e in East Belfast. Provided meeting, seminar and Conferen facilities for the community and voluntary sector in East Belfast and for oth8r organisalions delivering their work for the benefrt of East Belfast. During this period we provided meeting space for 362 meetings, Conferen$. seminars and training events for 8.947 people. Financial review The Trust is a non-profit making organisation. The results for the year are set out in detail on page 10. The Trust returned net outgoing resources for the year of £51,060 {2023 - £58.004}. The deficit is primarily attributed to the large depreciation charge of £82,267 in r81ation to the property and related fixtures and equipment held by the charity Within its restricted funds. At 31 March 2024. the total funds of the charity amounted to £2.804.677 (2023 - £2,855.737), comprising restricted funds of £2,620,961 (2023- £2,695,514) and unrestricted funds of £183,716 (2023- £160,223).
TEMPLEMORE AVENUE SCHOOL TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reserves Policy The directors. policy on reserves is to relain a sufficient amount to ensure that any unforeseen ¢osts can be met. The unrestricted reseNes of The Trusl at 31 March 2024 amounted to £183,716 which included free reserves of £142.047. The trustees have assessed the major risks to which the charity is exposed. and are satisfied that systems are in Pla to mitigate exposure to the major risks. Plans for Futurn Periods The directors have no signrficant plans to alter the activities of the charity in future periods. structure, govemance and management The charity is a company limited by guarantee. The trustee$, who are also the directors for the purpose of company law. and vtho served during the year and up to the date of signature of the financial statements were Samuel Douglas Mewn Gibson Maire Hendron Joseph O'Donnell Catherine Purdy Beverley Brown Gareth Wright (Appointed 20 October 2023) None of the trustees has any beneficial inleresl in the company. All of the trustees are members of the company and guarantee lo contribute £1 in the event of a winding up. isational Structure The Trust was established under a Memorandum of Understsnding which established the objects and powers of the company and is govemed 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), three 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 al the next Annual General Meeting, but is eligible for r&eleclion. New trustees are briefed on their legal obligations under charity and company law, the content of the Mernorandum and Artides of Association, the committee and decision making process, the business plan and recent performance of The Trust. They are free to discuss any issue with other twstees. Michael Briggs is appointed lo supervise the day to day operations of the company. There is no remuneration paid to Michael Briggs by The Trust in relation to this role. Ri$k Mana ment The trustees have reviewed the key risks facing The Trust and have established procedures to manage those risks. Th8 Trust does not have significarrt liabilities or financial commilrnenls and the trustees have prepad projections that indicate that th8 impact on Ihe charity will not be significanl.
TEMPLEMORE AVENUE SCHOOL TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Statement of Tru$tee$' responslbllltles The trustees, who are also the directors of Templemore Avenue School Trust for the purpose of company law, are responsible for preparing the Truste8s' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial y8ar which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of reSoUrs, incjuding the income and expenditure. of the charitable company for that year. In preparing these financial ststements, the trustees are required to: - select suitable a(%ounting policies and then apply them consistently- observe the methods and principles in the Charities SORP., - make judgements and estimates that are reasonable and pwdent,. and state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statem8nts on the going concern basis unless rt is inappropriate to presume that the chaiity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable Gompany and hence for taking reasonable st8ps for the prevention and detection of fraud and other iegUlar1ties. Auditor In accA)rdance wrth the PA)mpany's arlides, a resolution proposing thal GM¢G BELFAST be reappointed as auditor ofthe company will be pul at a General Meeting. Dis¢losurè of infomiation to auditor Each of the trustees has confirrned that there is no infomialion of which Ihey a aware which is relevant to the audit, bul of which the auditor is unaware. They have furth8r confirm8d Ihal they have taken appropriate steps to identify sud) relevant information and to establish that the auditor is aware of such informalion. The Trustees. Report was approved by the Board of Twstees. Samuel Douglas Trustee 4h Dated..&......?.CccH 104