Charity Reference No. 103846 JOHN ATCHESON FOUNDATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
JOHN ATCHESON FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (Income and Expenditure Account) FOR THE YEAR ENDED 5 APRIL 2024 Unrestrlcted Reslrlcted funds Funds Total funds 2024 Total funds 2023 2024 2024 Noles Incomlng resources Divid8nds & socurities Interest received Other income 96,796 4,010 34,361 96,796 4,010 34,361 101.048 7,406 11,291 Total Incomlng resources 135,167 135,167 119,745 Resources expended Prolessional fees & expenses Distributions {19,8911 1155,5001 {19,8911 {22,9871 (155,500) (112.0001 Total resources expended {175,3911 (175,3911 {134.9871 Realised gain I (loss) on disposal of investments Gain I Ilossl on disposal of investments property 49,205 49,205 229,870 {16.5621 {16,562} Net incoming l (ouigoing) resources 7,581 7,581 214,628 Recognlsed galns and losses Unrealised gains I (losses) on revaluation of investments 30.501 30,501 1403,153) 30,501 30,501 (403,1531 Net Incoming resources for the year 22,920 22,920 (188,525) Funds brought forward Funds carried forward 3.847,186 3,870,106 3,847.186 4,035,711 3,870,106 3.847,186
JOHN ATCHESON FOUNDATION BALANCE SHEET FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Notes Flxed assets Investments Investrnent property 5&6 3,787,554 3,478,448 60,000 3,538,448 3,787,554 Currenl assets Cash at bank and in hand 89,960 315 871 89,960 315,871 Credltors: amounts falllng due wilhln one year 7.407 7,132 Net currenl assets 82,553 308,739 Net assets 3,870,106 3,847,186 Unre51ricted Funds Fair value reserve Income reserve Capital reserve Total funds 10 10 1.264,656 {107,307) 2,712 757 3,870,106 1,250,717 167,0831 2,663,552 3,847,186 03 Jun 2025 The accounts W8r8 approved by the Trustoes on and signed on their behalf by: n5 Signed=...-...........-.-................... Signed-..........-.......... Print name: Mark Regan Print name.. Chris Mccleane Trtsstee Truslee Charity No. 103846 The notes of pages 7 to 12 lorm part of these financial statefflents.
JOHN ATCHESON FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 1. Accountlng pollcles The following accounting policies have been applied Consistently in dealing with items which are considered mat8rial in relation to the financial statements. 1.1 Basls of preparallon The financial statements have been prepared under the historical cosl convention and in accordance with th8 accounting policies set out on pages 7 to 12 and comply with the Charity's Memorandum and Articles, the Charities Act (Northern Ireland) 2013,applicable law and Accounting and Reporting by Charities- Statement of Recommended Praclice applicable to charities preparing their accounts in accordancg With Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFFIS 1021 leffgctive 31 January 20221- The Charity is a public benefit enlily. 1.2 Incomlng resources All incoming resources are recognised once the Trust has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can b8 measured wilh SLrfficient reliability. 1.3 Resources expended Liabilities are recogni5ed as resources expended as soon as there is a legal or constructive obligation committing the Trust to the expenditure. All expenditure is accounled for on an accruals basis and has been classified under headings thal aggregate all costs related to the category. Distributions are payments mad8 to third parties in th8 furtherance of the charitable objectives ol the Trust. Dislributions are accounted for when the recipient has a reasonable expectation that they will r8C8ive a distribution and the Trust8gs hav& agreed to pay the distribulion without condition. 1.4 Fund accounting The Trust has two funds, an Income Fund and a Capital Fund, which are wholly unrestricted. Unrestricted funds comprise Ihose funds which Ihe Trustees are free to use for any purpose in furtherance of the Trust's objects. 1.5 Investments Investmenls are slated on the balanc8 sheet at fair value and all movements. including realised and unrealised gains and losses, are shown in the Stalement of Financial Activilies. Realised gains and osses are the aggr8gate of profits and losses of sales of investment units. 1.6 Taxation As a regislered charitable trust, the Trust is not liable to etther Income Tax or Corporation Tax.
JOHN ATCHESON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEARS ENDED 5 APRIL 2024 1.7 Debtors Short lerm debtors are measured at transaction price {which is usually the invoice price), less any impairmenl losses for bad and doubrful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cosl determined using the effective interesl method, less any impairment losses for bad and doubtful debts. 1.8 Credllors Short term creditors are measured at transaction price {which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any Iransaction costs and subsequently measured at amortised cost determined using the effective interest method. 1.9 Cash Cash at bank and cash in hand includes cash and short term hwJhly liquid inveslments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.10 Flnanclal Instruments Th8 trust only has financial assets and financial liabilities of a kind that qualify as basic linancial instrumenls. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlgmenl value, with the exception of any interest bearing loans which ar8 SLsbsequently measured at amortised cost using the effective inter8st method. Dlvidends & securities 2024 2023 UK dividends UK Unit Trust & OEIC dividends Property income dividends Overseas securities 59.104 22.089 461 15.142 59,157 24,036 896 16,959 96,796 101.048
JOHN ATCHESON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEARS ENDED 5 APRIL 2024 Professlonal tees & expenses 2024 2023 Investment fees Independent examination fees Administration expenses Legal f8es 16.173 3.005 713 16,289 2,750 397 3,552 19.891 22,987 Distributions 2024 2023 Marie Curie Nl Hospice Northern Ireland Polio Fellowship Comber Youth For Christ- Northern Bank Ltd Salvation Army Donation - Reliance Bank Ltd R05ie'S Trust- Santander Uk Pl St Vincent De Paul. St Therese - AIB Group (Uk) PIC Mcdonald Centre - Northern Bank Ltd Belfast Homeless - Bank Of Ireland Belfast Homeless Servic8 Aware Defeat Depression Ballykelly Primary School Care Zone Coast Comber Youth for Chrisl Daisy Lodge East Bellast Mission McDonald Centre Springfield Charitable Association Svdp Horatio's Gard8n 15,000 15,000 1,000 10,000 10,000 10.000 10,000 10,000 20,000 20.000 20.500 13,0¢)0 1.000 2.500 2,000 2,000 7,500 5,000 15.000 15,000 1,000 7,500 2.500 15,000 15,000 15,000 7,000 115,500 112.000
J¢)HN ATCHESON FOUNDATION NOTES TO THE FINANCIAL STATEMEltrs IcoMnNUED) FOR THE YEAR ENDED 5 APRIL 2024 Cost AS at s Aprfl 2023 Cost as at S pvII 2024 Purehaqa• Dlspomls UK Fix8d IDleres1 her UK Fixad Ini8r8St Allomaiive Invesirnenis UK Equit$ Ow8rseas Equili•s 44.295 319.868 368,825 850,042 812,619 44.2 719.985 363,393 747,944 798,635 907,822 48.448 I7,704> IS3,8801 11Q2.0981 113,98SI 2.395.648 2 674 252 6. In¥tMentS lat M•k v*luel Marf(et value oa at 6 Apr¥1 2023 Change In morkat vakbe M•wkvt vA14W at S Iprll 2024 PUh0 Dlspusal# UK Fixed Inlw85t Bon¢J5 0th8r UK Fixed Interest Bonds lernalive In¥gStmgnts UK Equilias (kngas Equi118S $2.486 304,666 395,751 1.570.024 1.155,521 12,S041 3,938 125,8741 182.6531 137,595 52,486 304,866 395.751 1,570,024 1.155,521 907,822 48.448 1S07,7Q41 153,8801 1102,0981 113,9851 3.478,448 956.271 1677,8861 30,501 3,787,554 10
JOHN ATCHESON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 7. Investment property Value at 6 April 2023 60,000 Disposal Value at 5 April 2024 Net book value At 6 April 2023 At 5 Aprll 2024 60,000 60,000 During the year. the property was sold. 8. Cash at bank 2024 2023 Dividends account Investment account CAF Cash account 38,697 49,895 1 ,368 27,518 281,733 6,620 89,960 315,871
JOHN ATCHESON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 9. Credllors due wlthin one year 2024 2023 Evelyn Partners Independent examination foes 4,382 3,025 4,382 2,750 7,407 7,132 10. Reserves Total unrestricted reserves Capltal reserve Falr Value reserve Income reserve As at 6 April 2023 2,663,552 1,250,717 (67,083) 3,847.186 Investment movement 49,205 13,939 63,144 Net income (40,2241 (40.224) As at 5 April 2024 2,712,757 1.264,656 107,307 3,870,106 11. Related party transactlons and Trustees, remuneratlon There were, no Trustee fees charged in 2024.ln the opinion of the Trustees, there were no re5ated party transactions to be disclosed in the accounts.