Charity Reference No. 104727 A E HARVEY CHARITABLE TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 A E HARVEY CHARITABLE TRUST CONTENTS MEMBERS OF THE BOARDAND PROFESSIONAL ADVISERS........................................................................ TRUSTEES, ANNUAL REPORT............................................................................. INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES OF A E HARVEY CHARITABLE TRUST................... STATEMENT OF FINANCIAL ACTIVITIES Ilncome and Expenditure Account) . BALANCE SHEET.......................................... NOTES TO THE FINANCIAL STATEMENTS................................................................................................... A E HARVEY CHARITABLE TRUST MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS Trustees Mr Peter Cavan {Chair} Mrs Ainda Andress (Secretary) Mrs Jacqui Kerr Mr Patrick Hirst Registered Charity Number 104727 Trust Offi clo Evelyn Partners The Linenhall 32-38 Linenhall Street Belfast BT2 8BG Independent Examiners RBCA Limited Linenhall Exchange 26 Linenhall Street Belfast 8T2 8BG Solicitors Cleaver Fulton Rankin 50 Bedford Street Belfast BT2 7FW A E HARVEY CHARITABLE TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2023 The Trustees present their report and accounts for the year ended 5 April 2023. The Trustees have adopted the provisions ofthe Statement of Recommended Practice ISORPI"Accounting and Reporting by Charities" {FRS 102) in preparing the annual report and financial slalements of the charity. The financial statements have been prepared in accordance with the accounting pollcies sel out on pages 7 10 11 and comply with the Charities Act (Northern Ireland) 2013 applicable law and Accounting and Reporting by Charilies: Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January 2019}. Structure, governance and management A E Harvey Charitable Trust ("Ihe Trusl") is an unincorporated trust, constituted under a Trust Deed dated 12 April 2005 and is a registered charity, nuTnber 104727. The Trust was established in April 2005. The Trustees are appointed by the trust deed dated 12 April 2005 for an indefinite period. The day lo day man8gement of the Trust is overseen by the Trustees and there is no senior management or staff employed. Al the biannual 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.. Mr Peter Cavan (Chair) Mrs Ainda Andress (Secretary) Mrs Jacqui Kerr Mr Patrick Hirsl Risk management The Trustees actively review any major risks which the Trust faces on a regular basis and believe that Maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse oondilions. The Trustees have also examined other operational and business risks faced by the Trust and confirm Ihat they have established systems to miligale the mosl significant risks. Principal objectives and activities The objects of the Trusl are capital and income growth for dislribulion. The activities during the year furthered the charily's purposes for the public benefit. The Trustees have had regard to the Charity Commission for Northern Ireland guidance on public benefil. During the year, the Trustees continued to make distributions to a number of organisations in the UK. The overall distribution for the year was £46,000 12022.. £41,000). The distributions are analysed individually on page 9. Financial review The results are sel out on pages 5 10 11. In the year under review, income received from various investments totalled £48,859 (2022: £54,707}. Total distributions for the year were £46,000 {2022.' £41,000). The value of the Trusl's net assets as at 5 April 2023 was £1,159,022 {2022.' £1,233,614}. Investment powers and policy 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 Trustees have invested a significant portion of the available funds in a portfolio of investmenls with the remaining funds investmenl in bank deposits. Reserves level The Trustees aim lo maintain sufficient free reserves to enable the Trust to mainlain its dislribulions at its current level and, if possible, lo increase it. A E HARVEY CHARITABLE TRUST TRUSTEE'S ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Trustees, responsibllities The Trustees, are responsible for preparing the Trustees, Report and the financial slalementS. In preparing these financial statements, the Truslees are required to.. select suitable accounting policies and then apply them consistently., observe the melhods and principles in the Charities SORP., make judgements and accounting estimates that are reasonable and prudent; and prepare the financial slatemenls on the going concern basis unless it is inappropriate to presume that the charily will continue in operation. The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial posilion of the charity and enable them to ascertain to ensure that the financial slalements comply with the Charities Act (Northern Ireland} 2013. They are also responsible for safeguarding the assets of the charily and hence for taking reasonable steps for the prevention and detection of fraud 8nd olher irregularities. Approved by the Trustees and signed on their behalf by.. Signed:.... Signed.. Print name:................ Print name:....... Trustee Trustee Dale.. Dale.. A E HARVEY CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF A E HARVEY CHARITABLE TRUST I report on the accounts of the charity for the year ended 5 April 2023 which are sel oul on pages 5 10 Respective responsibilities of trustees and examiner As the charily's Iruslees you are responsible for the preparation of the accounts in accordance wilh the Charities Act (Northern Ireland) 2008. It is my responsibility to.. examine Ihe accounts under section 65 of lh8 Charities Act., follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65191(b} of Ihe Charities Act., and slate whether partiCLJlar malters have come lo my atlention. Basis of independent examiner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for NortheTn Ireland under section 65{9)Ibl of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of Ihe accounts presented with those records. It also included consideralion of any unusual items or disclosures in the accounts, and seeking explanations from you as Gharity truslees concerning any such matters. My role is lo slate whether any material matters have come to my attention giving me cause to believe.. 1. That accounting records were not kept in accordance with section 63 of the Charilies Act 2. That the accounts do not accord with those accounting records 3. That the accounls do not comply with the accounting requirements of the Charities Act 4. That there is further information needed for a proper understanding of the accounts lo be reached Independent examiner's statement I have completed my examination and have no concerns in respect of the matters11) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing lo your allention. Brian Stewart FCA, Chartered Accountants Ireland For and on behalf of RBCA Limited Chartered Accountants Linenhall Exchange 26 Linenhall Slreel Belfasl BT2 8BG Dale-. ltsi l&fLLt A E HARVEY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES Ilncome and Expenditure Account) FOR THE YEAR ENDED 5 APRIL 2023 Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Notes Incoming resources Dividends & securities Interest received Total incoming resources 43,994 4,865 48,859 43,994 4,865 48,859 49,532 5,176 54,707 Resources expended Professional fees & expenses Distribulions Total resources expended 112,6011 46,000 58.601 112.601) {12,261) 41,000 53,261 58,601 Realised gains l (10ss} on investments Nel incoming I loutgoing) resources 12,219 12,219 19,692 21,960 21,960 21,138 Recognlsed gains and losse5 Unrealised gains l (losses) on investments 52,632 152,632) 52,632 152.6321 61,432 Net incoming resources for the year Funds brought forward {74,592) 1,233,614 174,592) 82,570 1,233,614 1,151,045 Funds at 5 April 2023 1,159,022 1,159,022 1,233,614 A E HARVEY CHARITABLE TRUST BALANCE SHEET FOR THE YEAR ENDED 5 APRIL 2023 2023 2022 Note5 Fixed assets Investments 5&6 1,112,807 1,198,830 1.112,807 1,198,830 Current assets Cash at bank and in hand 51,534 51,534 39,666 39,666 Creditors: amounts falllng due wlthin one year 5,318 4,882 Net current assets 46,215 34,784 Net assets 1,159,022 1,233,614 Unrestricted funds Fair value reserve Income reserve Capital reserve 334,393 4,210 820,419 387,025 13,952 832,638 Total funds 1,159,022 1,233,614 The accounts were approved by the Trustees on and signed on ils behalf by.. Signed:... Signed.. Print name.. Prinl name.... Trustee Trustee Charity No. 104727 The notes of pages 7 to 11 form part of Ihese financial statements. A E HARVEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 1. Accounting policies The following accounting policies have been 8pplied consistently in dealing with items which are considered material in relation lo the financial slatemenls. 1.1 Basis of preparation The financial slalements have been prepared under the historical cost convention and in accordance with the accounting policies set out on pages 7 10 11 and comply with the Charity's Memorandum and Articles, the Charities Acl (Northern Ireland) 2013 applicable law and Accounting and Reporting by Charities: Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019). The Charity is a public benefit entity. 1.2 Incoming resources All incoming resources are recognised once the Trust has enlitlemenl lo the resources, il is certain that Ihe resources will be received and the monetary value of incoming resources can be measured with sufficient reliabilily. 1.3 Resources expended Liabilities are recognised as resources expended as soon as Ihere is a legal or conslruclive obligation committing the Trust lo the expenditure. All expenditure is accounted for on an accruals basis and has been classified Ljnder headings that aggregate all costs related to the category. Distributions are payments made lo third parties in the furtherance of the charilable objectives of the Trust. Distributions are accounted for when the recipient has a reasonable expectation that they will receive a distribution and the Trustees have agreed lo pay the distribution without condition. 1.4 Fund accountlng The Trust has three funds, an Income Fund, a Fair Value Fund and a Capital Fund. which are wliolly unrestricted. Unrestricted funds oomprise those funds which the Truslees are free to use for any purpose in furtherance of the Trust's objects. 1.5 Investments Investments are slated on the balance sheet al fair value and all movements. including realised and unrealised gains and losses, are shown in the Statement of Financial Activities. Realised gains and losses are the aggregate of profits and losses of sales of investment units. 1.6 Taxation As a registered charitable trust, the Trust is not liable lo either Income Tax or Corporation Tax. A E HARVEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 1.7 Financial Instruments The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al Iransaclion value and subsequenlly measured at their selllement value, with the exception of any inleresl-bearing loans which are subseouenlly measured at amortised cost using the effective interest melhod. 1.8 Debtors Short term debtors are measured al transaction price (which is usually the invoice pricel, less any impairment losses for bad and dOub￿Ul debts. Loans and olher financial assets are initially recognised al transaction price including any transaction costs and subsequently measured al amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. 1.9 Creditors Short lemi credilors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised al transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. 1,10 Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly Siquid investments with a short maturity of Ihree months or less from the date of acquisition or opening of the deposit or similar account. Dividends & securities 2023 2022 UK dividends UK Unit Trust & OEIC dividends Property income distributions Foreign dividends 18,037 19,768 678 5,511 28,053 16,125 670 4,683 43,994 49,532 A E HARVEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 3. Professional fees & expenses 2023 2022 Investment fees Independent examination fees Sundry expenses 9,586 2,750 265 9,416 2,550 296 12,601 12,261 4. Dlstributions 2023 2022 Belfast Central Mission Marie CuTi8 Quaker SeNice Sl Bronach's Kilbroney Church ol Ireland Ulster Historical Foundation MS Society Nl Belvoir ASD Family Support Group Corrymeela Youth Action Nl Start 360 Tools for So5idarity Sir Hans Sloane Cenlre. Killyleagh Aware Nl June Burgess, Horses for People (Womens Aid) Via Wings, Dromore St Anne's Cathedral Christmas Appeal 10,000 5,000 5,000 10,000 2,500 2,500 3,000 4.000 2,500 2,000 4,500 10,000 3,000 1,000 5,000 2,000 3,000 5,000 5,000 2,000 46,000 41,000 Inffjui ID ¢J) ¢5> Ln ) (D In rp) Ln c q> O) *tDo t+1 0> tr-- O) CN o (r) 0)￿Ln0 o) ¥n o (N DJ Ln NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 7. Cash at bank 2023 2022 Investment account Dividends account Cafcash account 35,006 16,277 251 23,319 16,029 319 51,534 39,666 8. Creditors due within one year 2023 2022 Evelyn Partners Accountancy fees 2,568 2.750 2,332 2,550 5,318 4,882 9. Reserves Total unrestricted reserves Capital reserves Fair Value reserves Income reserves As at 6 April 2022 832,638 387,025 13,952 1,233,614 Investment movement 112,219) 152,632) 164,851 } Net incomellexpenditure) (9,7411 19,741) As al 5 April 2023 820,419 334,393 4,210 1,159,022 10. Related party transactions and Trustees, remuneration There were no Trustee fees charged in 2023. In the opinion of the Trustees, there were no related party Iransaclions lo be disclosed in the accounts.