COMPANY REGISTRATION NUMBER: N1630824
CHARITY REGISTRATION NUMBER.. 104052
Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Unaudited Annual Report and Unaudited Financial
Statements
30 April 2024

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Annual Report and Unaudited Financial Statements
Year ended 30 April 2024
Pages
Trustees, annual report (incorporating the directorfs report)
1to5
Independent examiner's report to the trustees
Statement of financial activities (including income and
expenditure account)
6t07
Statement of financial position
Notes to the annual report and unaudited financial statements
10t015

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report)
Year ended 30 April 2024
The trustees, who ar8 also the directors for the purposes of company law, pr8sent their report and the
unaudit&d Annual Report and Unaudited Financial Statements of the charity for the year ended
30 April 2024.
Chair's reF)Ort
Bursary Fund Report for Year Ended 30 April 2024
It is my privileg8 to be Chair of the Fund and on behalf of my fellow Dir8ctors, to provide the Annual
Report on the Fund for the year ended 30 April 2024.
The Board would wish to acknowledge the excellent and continued contributions made during the year
by the Treasurer Dr Roy Adair and the Company Secrelary Dr Bryan Keating, and as Chair. I would
also wish to extend my thanks to all Dlrectors for their diligence and commitment to the work of the
Fund. During tha year, Dr Adair decided to retiré as Treasurer, and evaryone would want to expr8s5
Since￿ thanks to him for the huge contribution he has made as a founding Director, Company
Secretary and lattedy Treasurer. We are pleased that he will remain as a D1￿CtOr. The Board was
delighted to approve th8 appointment of William Wilson as a new Director and as the incoming
Tr8asurer. During the year, Ronnle Armour resigned as a Director on taking up a senior appointment
with the Departm8nt of Education. We are most grateful for hls contributlons durlng his period as
Director.
The role and purpose of the Fund is oullined in the attached Report and 50 during the year, the focus
of the Board was to continue to provide bursaries for pupils entering or Continuing in third lèvel
education. As part of its responsibilities. th8 Board also initiated two significant review5, in relation to
the Financial Strategy and a Marketing and P R Strategy, and work on thes8 Strat&gl8s continues.
Th8 Dlrectors have always considered it essential to ensure that all the activities and actions of the
Fund comply fully with the relevant governing regulations and legislative requirements and we believe
that, to the best of our knowledge, we complied with all such requirements in 2023-2024.
Glven that the purpose of th8 Fund is to support and encourage pupils from the school in third level
education, It is important that ther8 is the most positive relationship with the school and that continued
during 2023-2024. We continuè to greatly appreciate the contributions from the Principal Mrs Mary
Montgomery, the members of th8 Sanior Leadership Team and the support of the Principal's
Secretary Mrs Joann8 Clarke and Mrs Kerry Deehan on our web pages. The school has fac8d many
¢hallenges during the p8riod In question and so the Board Is most grat8ful for th8 involvement of Mrs
Montgomery in the work of the Fund. W8 were delighted with her award of the OBE during this year
and her involv8ment in a several important working parties in education We also want to ￿cOgnise
and acknowledge the success of the school in a number of Awards and external examinations, all of
which contribute to helping pupils b8 successful in third level education .

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (¢ontinu
Year ended 30 April 2024
That relationship with the school also enabled the Fund to be aware of the progress of pupils who had
previously been awarded Bursaries both though and beyond third level education and those involved
with the Fund are particularly pleased to have been advised of the importance of those Bursaries to
the former pupils. The Fund will continue to monitor those cohorts and has already benefitted from the
strong endorsements of award winners.
During the year 2023-24 the Board held six meetings. The Board continued to focus on those who
subscribe monthly or on a one - off basis. which is the regular income providing the strong financial
position of the Fund. The Fund also held a Dinner in Autumn 2023 which provided opportunity to
update those present on the work of the Fund. An undoubted highlight of the Dinner was the
contribution by a Bursary award winner who told his story of support both Ihrough his time at the
school and also the importance of the Bursary through University. In the view of the Directors. it is
such narratives which continue tojustify the work of the Fund in awarding Bursaries.
We are pleased to report that, as the attached Accounts show. by 30 April 2024 the Unrestricted
Funds were £96,465 (2023.. £91,211) having accounted for Bursaries and expenses. The Board
annually reviews its reseNes and ¢onsiders them to be healthy. In keeping with our fiduciary
responsibilities, the Directors invested part of the reserves in a higher interest rate. The Board
continues to believe that th8 Stat8 of the funds is sufficient at present, given the increase in the
number of awards, the increase in the value of each Bursary and also th8 Boards declared position of
seeking to have sufficient funds to achieve and endowment position but that we must now secure
future Bursary Awards by delivering the financial strat8gy going fomard.
The Directors fimily believe that the Fund is proving invaluable In supportlng th8 boys from the school
entering third level education and is commltted to ensure that the Fund continues to be managed in
the most effective way .
Slr Nlgel Hamilton K C B . D L . D. Univ (Hon)
Reference and admlnistrative details
Registered charity name
Belfast Boys Model Bursary Fund (In M&mory of EW Davis)
Charlty registration number
104052
Company registration number N1630824
Principal office
Belfast Boys Model School
Ballysillan Road
Belfast
BT14 6RB
Registered office
Belfast Boys Mixlel School
Ballysillan Road
Belfast
BT14 6RB

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 April 2024
The trustees
Sir N Hamilton KCB, DL (Chair)
Mr G Nelson
Mr T Andrews
Dr R Adair CBE
Ms M Montgomery
Dr B Keating CBE (Se¢retaryl
Mr M Gilmore QPM
Mr F Shivers
Mr W Wilson
Mr R Amiour
(Treasurer)
{Appoint8d 27 September 2024)
(Resigned 21 August 2023)
Independent examlner
Michael Flannigan
Structure, governance and management
Belfast Boys, Model Bursary Fund (In M8mory of EW Davls) Is a privat& company limited by guarantee
and registered in North8rn Ir8land (Company Number N1630824).
It is governed by its Articles of Association, dated 1 st April 2015 and is registered as a charity wlth the
Charity Commlssion Northern Ireland (Charity Number NIC104052).
The Memorandum of Association governs all relevant matters relating to Membership", becoming and
ceasing to be a Member,. the Organisation of General Meetings,. the Role and Powers of Directors
(including appointment and retirement). Administrative Arrangements,. and Directors Indemnity and
Insurance.
The Directors state that they have fully adhered to all such requirements and provlsions during the
year In question.
The Board of Directors held regular meetings during the year to review the progress of the fund and
discuss and agree th8 futur8 dlrection of the fund.

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) {¢ontlnued)
Year ended 30 April 2024
Objectives and activities
The charity's objects are to advar7ce and promote the education of the pupils at Belfast Boys, Model
School by providing bursaries or other financial assistance to pupils who progress to third level
education.
Arising from the purposes, our activities focus on two key strands; fund raising and the creation of a
clear, fair and equitable process for the making of the awards.
As noted in last year's report the Board set an objective to make additional annual awards for HND
and Higher-Level Apprenticeships.
It is also important to say that the existence of the Fund and its core objectives were agreed with the
school Board of Governors. as was the fijll participation of the then Principal. Mr Alan Logan as a
Director of the Fund. The current Principal. Ms Mary Montgomery, is a member of the Board and fully
endorses the work of the Fund.
The directors have paid due regard to guidance issu8d by the Charity Commission in deciding what
activities the charity should und8rtak8.
Achlevements and porformance
Our activities have been shaped by the n88d to ralsé sufficient fund5 to ensure that the awards, when
made, ¢an be fully fund8d for the tenure of each bursary. It was determined by the Board that,
initially, three bursaries should be awarded each year.
The Board was of th8 vl8W that awards should be performance driven and was grateful that tha school
8ndorsed this approach and agreed to draw up the criteria against which the first three awards would
be made.
The school's proposal which was fully endorsed and agreed by the Board was to target three key
areas of study in the school, namely: STEM subjects (including Technology, Mathematics and
Science), Vocational subjects (including IT, Traveirrourism and Public Service) and General subjects
(including History, Politics, Media Studies and Art).
Further, it has been our ambition to be able to commit to the award of bursaries some years ahead
and whilst this reinforced Ihe view that three was the correct number of wards to start with. we have
taken action to increase the number of bursaries to be awarded.
The school ensured that every pupil eligible for a bursary was aware of the criteria from the beginning
f)f the sGhool year. Following examination results in Augijst paeh year, thrp.p. hiirsarips arp awardRd
to the three pupils who best met the Griteria outlined above. Each bursary in total amounts to £3.600
and is paid over a period of three years dependent upon continuing academic attendance in further
education by the pupils Goncerned. In additio[7, each year the Board considers the award of one-off
awards on an ad-hoc basis.

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (contInU￿}
Year ended 30 April 2024
Financial review
The Directors raised funds during the year by dlrect Contact with a number of former pupils, who were
advised of the existence and purpose of the Fund, and then invited to contribute by a one-off gift, or by
regular monthly donations through Direct Debit or both.
It is the policy of the charity that unrestricted funds which have not b88n d8signated for a specific us8
should be grown to allow the Charity to adopt an endowment approach to funding that is looking to
providing funding from investment income.
The directors consider that reserves at this level will ensure that, in the event of a significant drop in
funding, they will be able to continu8 the chartvs Current activities while consideration is gtven to
ways in which additional funds may be raised. Thls level of reserves has been maintalned throughout
the year.
During the year, the Fund raised £31.822 (2023.. £26,701) from donations, gift ald and bank interèst
and after paying and providlng for Committed bursaries and expenses added £5,254 (2023: £7,797) to
unrestricted funds which now total £96,495 (2023.. £91.211). This ensures that the Bursaries can be
funded in the years ahead.
The directors are pleased with the continuing support from both 8XlSting and n8w donors and b81ieve
that the Fund has good pot8ntlal to grow in the fvlure.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to
the small Companies, exemptlon.
The trustees, annual report was approved on 31 March 2025 and signed on behalf of the board of
truste&s by:
SirN
Director
nKC

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Belfast Boys Model Bursary
Fund (In Memory of EW Davis)
Year ended 30 April 2024
I report to the trustees on my examination of the Annual report and Unaudited Financial Statements of
Belfast Boys Model Bursary Fund {In Memory of EW Davis) ('the charity,) for the year ended
30 April 2024.
Responsibilities and basis of report
As the trustees of the cotllpany (and also its directors for the purposes of corTTpany law) you are
responsible for the preparation of the Annual report and Unaudited Financial Statements in
accordance with the requirements of Charities Act {Northem Ireland} 2008 (the '2008 Act,) and the
Companies Act 2006 ('the 2006 Act.). You are satisfied that the accounts of the company are not
required by charity or company law to be audited and have chosen instead to have an independent
examination.
Having satisfied myself that the accounts of the company are not r8quir8d to be audited under Part 16
of the 2006 Act and are eligible for independent examination, I report in respect of my examinalion of
the Gharity's Annual report and Unaudited Financial Statements as Carried out und8r section 65 of the
2008 A¢t. In carrying out my examination I hav8 followed the gen8ral Directions given by the Charity
Commission for North8rn Ireland under section 65(9)(b) ofthe 2008 Act.
Independent exarnlner's Statement
I have ¢ompleted my examination. I confirm that no matters have com8 to my att8ntion in connection
with my examlnatlon giving me cause to believe that in any material respect:
accounting records w8re not kept in ￿Spect of the Charity as required by saction 386 of the
2006 Act. or
the Annual report and Unaudited Financial Statements do not accord with those records; or
the Annual rèport and Unaudited Financial Statements do not comply with the accounting
requirements of s8Ction 396 of the 2006 Act other than any requirement that thè accounts
give a 'true and fair. view which is not a matter considered as part of an indepèndent
examination., or
the Annual report and Unaudited Financial Statements have not been prepared in
accordance with the methods and principles of the Statement of Recommended Practice for
accounting and reporting by charities applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102).

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limlted by Guarantee
Independent Examiner's Report to the Trustees of Belfast Boys Model Bursary
Fund (In Memory of EW Davis) (conunued)
Year ended 30 April 2024
I confimi that there ar8 no other matters to which your attention should be drawn to enable a proper
understanding of the accounts to be reached.
Michael Flannigan
Independent Examiner
FEB Chartered Accountants
Linenhall Exchange
26 Linenhall Street
Belfast
BT2 8BG
31 March 2025

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 30 April 2024
2024
Unrestricted
funds Total funds Total funds
2023
Note
Income and endowments
Donations and legacies
Other trading activities
Other income
20,250
7,131
4,441
20,250
7.131
4,441
22.597
3.224
Total income
31,822
31,822
26.701
Expenditure
Expenditure on raising frjnds
Expenditure on charitable activities
Total expendlture
4,240
22,328
4.240
22,328
1,000
17,904
26,568
26,568
18,904
Net income and net movement In funds
5,254
5,254
7.797
Reconciliation of funds
Totsl funds brought fomard
Total funds carrled forward
91,211
91,211
83.414
96,465
96,465
91.211
The statement of financial activities includes all gains and losses recognlséd In the year.
All income and expenditure derive from continulng activities.
The notes on pages 10 to 15 fomi part of these Annual report and Unaudited Flnanclal Statements.

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Statement of Financial Position
30 April 2024
2024
2023
Note
Current assets
Debtors
Cash at bank and in hand
16
4,404
110,541
3,219
99,815
114,945
103,034
Creditors: amounts falling due within one year
17
18,480
11.823
Net current assets
96,465
91.211
Total assets less current liabilities
96,465
91,211
Net assets
96,465
91,211
Funds of tho charity
Unrestricted funds
96,465
91,211
Total charity funds
18
96,465
91.211
For the year ending 30 April 2024 the charlty was entitled to exemption from audit under section 477
of the Companies Act 2006 relating to small companies.
Directors. responsibilitl8s..
The members have not requlred the company to obtain an audit of its Annual report and
Unaudited Financial Statements for the year In question in accordance with section 476.,
The directors acknowledge their responsibilities for complylng with the reqUI￿rn8nts of the Act
with respèct to accounting records and the preparation of Annual report and Unaudited Financial
Statements.
These Annual Report and Unaudited Financial Statements have been prèpared in accordance with the
provisions applicable to companies subject to the small companies, regime.
These Annual Report and Unaudited Financial Statements were approved by the board of trustees
and authorised for issue on 31 March 2025. and are signed on behalf of th8 board by:
SirNHa
Director
ilton
CB, DL
The notes on pages 10 to 15 fomi part of these Annual report and Unaudlted Financial Ststements.

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Notes to the Annual Report and Unaudited Financial Statements
Year ended 30 April 2024
General Information
The charity is a public benefit entity and a private company limited by guarantee. registered in
Northern Ireland and a registered charty in Northern Ireland. The address ofthe registered office
is Belfast Boys Model School, Ballysillan Road, Belfast, BT14 6RB.
Statement of compliance
These Annual report and Unaudited Financial Statements have been prepared in compliance
with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of
Ireland,, the 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) (Charities SORP {FRS 102)) and the Companies Act 2006.
Accounting policies
Basls of preparation
The Annual report and Unaudited Financial Stat8m8nts have been prepared on the historical
cost basis, as modifled by the revaluation of certain financial assets and liabilit18s and Investment
propertles measured at fair value through incom8 or expenditure.
The Annual r8POrt and Unauditéd Financial Statements are prèpared in sterling, which is the
functional currency of tha entity.
Golng concern
There ar8 no material unc8rtaSnties about the charity's ability to ¢ontinue.
Judgements and key sources of estimation uncertalnty
The preparation of the financial statements requires management to make judgements.
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors, including expectations
of fijture events that arè believed to be reasonable under the circumstances.
Fund accounting
Unrestricted fvnds are available for use at the dis¢￿tion of the trustees to further any of Ihe
charity's purposes.
Designated funds are unrestricted funds eamiarked by the trustees for particular future project or
commitment.
Restricted fiJnds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal. and fall into one of two sub-classes.. restricted income funds or
endowment funds.
10

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Notes to the Annual Report and Unaudited Financial Statements {ct)ntInu￿}
Year ended 30 April 2024
Accounting policies {¢ontinued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity,. it is probable that the economic benefrts associated with th8 transaction
will flow to the charity and the amount can be reliably measured. The following specific policies
are applied to particular cat8gories of income..
income from donations or grants is recognised when there is evidence of entitlement to the
gfft, receipt is probable and its amount can be measured reliably.
legacy income Is recognised when retsipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless thls is
impractical to measure reliably, in which case the value is derived from the cost to tha donor
or the estimated resa18 value. Donat8d facilities and s8Nic8s are recognised in the
accounts when received if the value can be reliably measured. No amounts are included for
the contribution of general volunt88rs.
incom8 from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classif18d as unrestrict8d funds unl8SS there is a contractual
r8quirement for it to be spent on a particular purpose and retumed if unspent. in which ¢ase
it may be regarded as rèstricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot bè fully recovered, and is classified under headings of the statement of
finan¢ial activities to which it relates..
expenditure on raising funds include5 the ¢ost5 of all fundraising a¢tivities. 8vents,
non-¢haritable trading activities. and th8 sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitabl8 alms for th8 b8nefit of its b8neficiari8s, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activiti8S.
other expenditure includes all 8xpenditure that is neither r81at8d to raising fijnds for the
Charty nor part of its 8xp8nditur8 on charitabl8 activiti8S.
All Costs are allocated to exp8nditure cat8gori8s reflecting th8 use of the resource. Direct costs
attributable to a single aclivity are allocated directly to that activty. Shared costs are apportioned
be￿een th8 activities they contribute to on a reasonable. justifiable and consistent basls.
Flnanclal instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
11

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Notes to the Annual Report and Unaudited Financial Statements (continved)
Year ended 30 April 2024
Accounting policies (¢ontinued)
Financial instruments (contlnued)
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideralion expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the investment is subsequently measured at fair value with changes in fair valuo
recognised in income and expenditure. All other such investments are subsequently measured at
05t less impairment.
Other financial instruments. includlng derlvatives, are initially recognised at falr value, unl8SS
payment for an asset is deferred beyond normal business t8rms or financ8d at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rat8 of intèrest for a slmilar debt instrument.
Other financial Instruments are subsequently measured at fair value, with any changes
recognised in the statement of financial activities, with the exception of hedging instruments in a
designated hedging ￿latIOnshIp.
Financial assets that ar8 measured at C05t or amortised cost are reviewed for objective evidence
of impairment at the end of each r8POrtlng date. If there is objective evidence of impalnn8nt, an
impairment loss is recognised under the appropriate heading in the statement of financial
a¢tivities in which the initial gain was recognised.
For all equity instruments regardless of significance, and othèr financial assets that ar8
individually significant, these are assessed individually for impairment. Other financial assets are
etther assessed individually or grouped on the basis of similar credit risk characteristics.
Any ￿verSalS of impairment are recognised immediately. to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
Limited by guarantee
elfast Doys Model Bursary Fuiid (in Memory of EW Davis) was regislei-¥d 011 21 April 201J as a
company limited by guarantee, not having a share capital. The liability of each member is
limited to an amount not ex￿eding £1. It is also a charity registered with HM Revenue &
Customs.
Donations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Donations
Donations and gifts
20,250
20,250
22.597
22.597
12

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Notes to the Annual Report and Unaudited Financial Statements (¢t￿tInU￿)
Year ended 30 April 2024
Other tradlng activities
Unrestricled Total Funds Unr8Stricted Total Funds
Funds
2024
Funds
2023
Fundraising ev8nts
7.131
7,131
880
880
Other in¢oma
Unrestricted Total Funds Unrestrlct8d Total Funds
Funds
2024
Funds
2023
Gift Aid receivable
4,441
4,441
3,224
3.224
Costs of other tradlng activities
Unrestricted Total Funds Unrestrlct8d Total Funds
Funds
2024
Funds
2023
Fundraising costs
4,240
4,240
1,000
1,000
Expenditure on charitable actlvfties
Un￿StrICted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Bank charges
Comput8r running costs
Sundry expenses
A¢¢ountancy
Grant funding of activities (note 13)
161
103
47
417
21,600
161
103
47
417
21,600
168
123
13
900
16,700
17,904
168
123
13
900
16,700
22,328
22,328
17.904
13

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Notes to the Annual Report and Unaudited Financial Statements (Gontinued)
Year ended 30 April 2024
10. Independent examinatlon fees
2024
2023
Fees payable to the independent examiner for-
Independent examination of the Annual report and Unaudited
Financial Statements
480
900
11. Staff costs
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefils of more than £60.000 during the year {2023- Nil).
12. Trustee remuneration and expenses
No remuneration or oth8r banefits from employment with the charity or a related entity were
retsived by the trustees.
13. Grants payablo
Bursary Grants to indivlduals
Bursary grants are available to every pupil at Belfast Boys, Modèl School. While the Board has
ultimate responsibility for both the raising of funds and the awarding of Bursaries, the criteria for
those Bursaries are drawn up by th& school senior management and thèn considered by and
approved by the Board and are awarded based on criteria drawn up by the Board of Directors of
the charity. Three boys are awarded a bursary of £3,600 each over three years with further
one-off awards mad8 annually at the Board's discretion.
14. Directors
None of the directors (or any persons connected wlth them) received any remuneration or
benefits from the charity during th8 yèar.
15. Taxation
The charity is exempt from tax on incorne and gains falling within section 505 of the Taxes Act
1988 or section 252 of the Taxation of Chargeable Gains Act 1992 lo the extent that these are
applied to its charitable objects.
16. Debtors
2024
2023
Other debtors
4.404
3.219
14

Belfast Boys Model Bursary Fund (In Memory of EW Davis)
Company Limited by Guarantee
Notes to the Annual Report and Unaudited Financial Statements (continued)
Year ended 30 April 2024
17. Creditors: amounts falllng due within one year
2024
2023
Accruals and deferred income
Other Credltors
480
18,000
1.023
10.800
18,480
11.823
18. Analysis of charitable funds
Unrestrlcted funds
At
1 May23
At
30 Apr 24
Income Expenditure
General funds
91,211
31.822
(26,568)
96,465
At
1 May22
At
30 Apr 23
Income Expenditur8
General fvnds
83,414
26,701
(18,9)4)
91,211
19. Analysls of net assets between funds
Unrestricted Total Funds
Funds
2024
Current assets
Creditors less than 1 year
Net assets
114,945
(18,480)
96,465
114,945
(18,480)
96,465
Unrestricted Total Funds
Funds
2023
Current assets
Creditors less than 1 year
Net assets
103,034
(11.823)
91.211
103,034
{11,823)
91,211
15