2025-04-05-accounts - The Straight Forward Trust

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Charity registration number 104018 (Northern Ireland)

THE STRAIGHT FORWARD TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

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THE STRAIGHT FORWARD TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	MrHenryCobbe
	MrJamesArmstrong
	Mr PatrickAWhite
Charitynumber	404018
Registered office	Crawford Lockhart Black Solicitors
	7/11 Linenhall Street
	Belfast
	BT2 8AA
Independent examiner	Moore (N.].) LLP
	4th Floor Donegall House
	7 Donegall Square North Belfast
	BT1 5GB
Bankers	Danske Bank
	Belfast Business Centre
	P.O. Box 183
	Donegall Square West
	Belfast
	BT1 6SJ
	Coutts & Co.
	440 Strand
	London
	WC2R00S

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THE STRAIGHT FORWARD TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2025

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			Unrestricted	Unrestricted
			funds	funds
			2025	2024
		Notes	£	£
Incomefrom: Investments		3	-	4,682
Expenditure on:
Raising funds		4	683	3,529
Charitable activities	.	5	14,807	16,862
Total expenditure			45,490	20,391
			—"	_
Netgains/(losses) on investments		10	(51,111)	56,421
Net expenditure and movement infunds			(66,601)	40,712
Reconciliation offunds:
Fund balances ait6April 2024			596,216	555,504
Fundbalancesat5April2025			529,615	596,216

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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THE STRAIGHT FORWARD TRUST

BALANCE SHEET

AS AT 5 APRIL 2025

	Notes	£	£	£	£
Fixed assets
Investments	12		462,149		513,898
Current assets
Cash at bank and in hand		69,576		84,449
Creditors: amounts falling due within	13
oneyear		(2,110)		(2,131)
Net current assets			67,466		82,318
Total assets less current liabilities			529,615		596,216
The funds of the trust
Unrestricted funds	14		529,615		596,216
			529,615		596,216

The financial statements were approved by the Trustees on 29 January 2026

me Q 5

Mr James Armstro

Trustee

Mr Patrick A White Trustee

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1 Accounting policies

Charity information

The Straight Forward Trust is a charity registered with the Charitiy Commission for Northern Ireland. The registered office is located at Crawford Lockhart Black Solicitors, 7-11 Linenhali Street, Belfast, BT2 8AA.

1.1 Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard which applies in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4. Income

Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

1.6 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

| THE STRAIGHT FORWARD TRUST | NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) | FOR THE YEAR ENDED 5 APRIL 2025 : | : 1 Accounting policies

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Eee

(Continued)

1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequenily carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the trust's contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the trust's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from investments

		Unrestricted funds	Unrestricted funds
		2025	2024
Income	from listed investments	-	3,396
Interest	receivable	“	1,286
		-	4,682

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THE STRAIGHT FORWARD TRUST

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

4 Expenditure on raising funds

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4	Expenditure on raising fundson raising fundsraising fundsfunds
		Unrestricted	Unrestricted
		funds	funds
		2025	2024
	Investment management	683	3,529
5	Expenditure on charitable activities
		2025	2024
	Direct costs
	Bankfees	57	781
	Grant funding ofactivities (see note 6)	13,000	13,001
	Share ofsupport and governance costs (see note 7)
	Governance	4,750	3,080
		14,807	16,862
	Analysisbyfund
	Unrestricted funds	14,807	16,862
6	Grants payable
		2025	2024
	Grantsto individuals	13,000	13,001
7	Support costs allocated to activities
		2025	2024
	Governancecosts	1,750	3,080
	Analysedbetween: independentExaminationFee	1,750	3,080

: | :| THE STRAIGHT FORWARD TRUST | : : NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

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ae	ae	ae	ae
8	Netmovementinfunds	2025	2024
		£	£
	The netmovement in funds is stated after charging/(crediting):
	Fees payable for the independent examination ofthe charity's financial
	statements	1,750 ———	3,080 —

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration, benefits or expenses from the trust during the year. 10 Gains and losses on investments

Gains and losses onand losses onlosses onon investments
		Unrestricted	Unrestricted
		funds	funds
		2025	2024
Gains/(losses) arising on:		£	£
Revaluation ofinvestments		(91,659)	17,480
Sale of investments		40,548	38,041
		(51,111)	56,421
Taxation
The charity is exemptfrom taxation on its activities because all its income is applied for charitable purposes.
Fixed asset investments
	Listed investments	Cash in portfolio	Total
Cost or valuation
At05 April 2024	513,200	-	513,200
Additions	553,808	-	553,808
Valuation changes	(553,748)	-	(553,748)
Gain/(Loss) on revaluation	(51,111)	-	(51,111)
At § April 2025	462,149	-	462,149
Carryingamount At05April 2025	462,149	-	462,149
At05April2024	513,200	698	513,898

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Fixed asset investments

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THE STRAIGHT FORWARD TRUST

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

13 Creditors: amounts falling due within one year

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|||||| |---|---|---|---|---| |2025|2024| |£|£| |Accruals and|deferred|income|2,110|2,131|

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14 Unrestricted funds

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||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |The|unrestricted funds|of the|charity comprise|the|unexpended|balances|of donations|and|grants which|are| |not subject to|specific|conditions|by donors|and|grantors|as|to|how they|may|be|used.|These|include| |designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.| |At|6 April|Incoming|Resources|Gains and|At|5 April| |2024|resources|expended|losses|2025| ||| ||General|funds|596,216|-|(15,490)|(541,111)|529,615| |—___|ae|a|en|—__—| |Previous|year:|At|6 April|Incoming|Resources|Gains|and|At|5 April| |2023.|~=resources|§|expended|losses|2024| |£|£|£|£|£| |General|funds|555,504|4,682|(20,391)|56,421|596,216|

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15 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).