Charity Reference No. 103846 JOHN ATCHESON FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
JOHN ATCHESON FOUNDATION TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their report and accounts for the year ended 5 April 2024. The Trustees have adopted the provisions of the Stalemenl of Recommended Practice (SORPI "Accounting and R6POrting by Charities" {FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out on pages 7 to 12 and cornply with the Charities Act (Northern Ireland) 2013, applicable law and Accounting and Reporting by Charities: Statemenl of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 31 January 20221. Structurei governance and management The John Atch8s0n Foundation (-the Trust") is an unincorporated trust, conslituled under a Will Trust dated 30 November 1993 and is a registered charity. number 103846. The original Trustees were appointed by Ihe Will of John Alcheson for an indefinite period. The day-lo-day management of the Trust is overseen by the Trustees and there is no senior management or staff employed. At the quarterly Trustees, meetings, the Trustees agree the broad strategy of the Trust, including consideration of grant making, investment, reserves and risk management policies and performance. The Trustees who served during the year were as follows: Mrs Aileen Martin (Chair) Mr Chris Mccleane {Secretary) Mr John Knaggs Mrs Rosemary O'callaghan Mr Mark Regan Rlsk Tnanagemenl Th8 Trustees actively review any major risks which the Trust faces on a regular basis and believe Ihat maintaining reserves al current levels. combined with an annual review of Ihe conlrols over key financial systems, will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the Trust and confirm that they have established systems to mitigate the most signilicant risks. Prlncipal objectives and acllvlties The objects ol the Trust are to provide donations and other benefits to a number of charilabl8 institutions, in particular those Ihat benefit blind. disabled andlor eldeily persons in Ihe Uniled Kingdom. The activities during the year furthered the charity's purposes for the public benefit. The Trustees have had regard to the Charity Commission for Northern Ireland guidance on public benefit. During ihe year, the Trustees continued to make dislribulions lo a number of organisalions in the UK. Th8 overall distribution total for th8 year was £155,500 {2023'. £112.000). The distribulions are analysed individually on page 9. Flnanclal revlew The results are Set out on pages 5 to 12. In the year under review, income received from various investments totalled £135,167 (2023: £119,745). Total distributions for the year were £155,50012023: £112,000). The value of the Trust's nel assets as at 5 April 2024 was £3,870,106 (2023.. £3,847,186). Inveslment power5 and pollcy Apart from retaining a prudent amount in reserves each year most of the Trust's funds are spent in the short term. Having considered the options available, the Truslees have inv8Sted a significant portion ol the available funds in a portfolio of investm8nts with the remaining funds investment in bank deposits.
JOHN ATCHESON FOUNDATION TRUSTEE'S ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2024 Reserves level The Trustees aim to maintain sufficient free reserves to enable the Trust to maintain its distributions at its Current level and, if possible, to increase it. Trustees. responslbllilles The Trustees are responsible lor preparing the TrLAStees' Report and the financial statements. In preparing th8se financial statemenls, the Trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP., make judgernents and accounting estimates that are reasonable and prudent., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trust88s are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ascertain lo ensure that the financial statements comply with the Charities Act {Northern Ireland) 2013. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of Iraud and other irregularities. Approved by the Trustees and signed on their behalf by: ffso Signed:...........................-.-..... Signed..-.. Print name: Mark Regan Print name.. Chris Mccleane Trustee Trustee Date.. 03 Jun 2025 Date: 03 Jun 2025