The Latt House Trust Annual Report and Receipts and Payments Account For the period 1st January 2018 to 31st December 2018 Northern Ireland Charities Number: 104753 The Latt House Trust Contents Page Charity Information Trustee's Annual Report Independent Examiner's Report to the Trustees Statement of Receipts and Payments Statement of Assets and Liabilities Notes to the Financial Statements The Latt House Trust References and administrative details Charity Name= The Latt House Trust Charity Registration Number: 104753 Contact Address.. 15 Knollwood Seapatrick Banbridge Co Down BT32 4PE Trustees- Thomas Shields Lynda Shields Robin McLoughlin Sean Treanor Martin Shields Independent Examiner.. S.M. Vint & Co 8 Newry Road Banbridge BT32 3HN Bankers.. Danske Bank The tatL House Trust (LHT) IN.1. ChariLy Rcl. No. 1047531 Trustees, Annual Report 2018 Wednesday l¥ DeceEnbei 2018 Report of the Latt House Trust for 2018 Present. Chaimian . Mr. Martin Shields Secretary - Mt. Tom Shidds Treasurer- Mrs. LiTrda Shields Trnstees . Mr. Robin MclA>ughlin . Mr. Sean Tieanor The Latt House Trust ILHT) Charity Js a small chaxity and was established in order to encourage young sMdents from part of Noithern Ireland (B￿bridge, Newry, KiLkeel areal to apply for entry to Oxford University or CaJnbridge UniveEsity. The LHT eneoutages students to further their educational experience and (hus benefit the broader public gooiL The Lirr belR"eve that furthering the education of loca] students in Ollord and CaJnbrLdge UKuversittes will be to the advantage of not only the local ￿e1 but also Northern Ireland as a whole. The LHT receives its money from its sll￿e benefactor, M￿lIn Shieldsi past pupil OF Banbridge Academy> and eath year die successful Appli(>J]ts recelve a £1,000 Bursary. This Bursary is paid to each student in the fjrst tenrA of the Unkversity ycai. The TtustCC5 of the LHT meet re￿larlY to discuss and award the Bursaries. Over the past six ye￿5 a totaj of 18 local students have benefE(ted from the LHT Bu[S￿les. There Trvetc five Applications for a LHT Bursary for this academic year. The apph'cants thi's Ye￿ were from Banbridge Academy, KilLeel Ibgh, St. Co]man's College and the Sacred H￿¢ Grammar. The Bursary of£l,000 is a￿varded to all five students at the LHT Bursary Presentation Evening. The Annuaj fin2ncial Return was approved. There was no further buS￿esS. om SfitrLls (Secretary) Sh￿[& (rfreasurer) Independent Examiner's Report to The Latt House Trust I report on the accounts of the charity for the period ended 31st December 2018 which are set out on pages 4-5. Respective responsibilities of Trustees and Examiner As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities Art (Northern Ireland) 2008. It is my responsibility to: examine the accounts under section 65 of the Charities Act; follow the procedures laid down in the general Direttions given by the Charity Commission for Northern Ireland under section 6519llbl of the Charities Act,. and state whether particular matters have come to my attention. Basis of Independent Examlner's report I have examlned 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 Northern Ireland under section 6519llbl of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual Items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe.. l. That accounting records were not kept in accordance with sertion 63 of the Charities Act 2. That the accounts do not accord with those accounting records 3. That the accounts 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 to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect of the matters111 to141 listed above and. in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Brian Magennis. CCA FCA For and behalfof S.M. Vint & Co Chartered Certified Accountants & Registered Auditors 8 Newry Road Banbridge BT32 3HN The Latt House Trust Statement of Receipts & Payments for the period ended 31st December 2018 Unrestricted Restricted Note fund5 funds Prior year Total funds total funds Income and endowments from: Donations Total income 5,000 5.000 5,000 5.000 3,000 3.000 Expenditure on: Charitable Artivities Total expenditure Net income / (expenditure) resources 4,119 4,119 881 4,119 4,119 881 3,137 3,137 -137 The Latt House Trust Statement of Assets & Liabilities- Period Ended 31st December 2018 2018 2017 Reconciliation of funds at 31.12.18 Total funds brought forward Surpluslldeficitl this year end Total funds carried forward 1.156 881 2.037 1293 -137 1,156 Bank & Cash Balances Cash at bank and in hand 2,037 2,037 1.156 1,156 Represented by Unrestricted funds Restricted fund5 Total Funds 2,037 1,156 2,037 1,156 Notes on pages 6 to 7 are an integral part of these financial statements. The financial statements on pages 4 to 5 were approved by the Board of Trustees on 16th October 2019 and signed on its behalf by: Mr Thomas Shields The Latt House Trust Notes to the financial statements for the period ended 31st December 2018 l. Accounting policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the prep3ration of the financial statements are as follows: a) Preparation of accounts on a going concern basis The charity generally meets its day to day working capital requirements from its annual income. The Trustees have obtained and reviewed cash flow forecasts for the coming year and based on these are satisfied that the charity has resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable future. Therefore these financial statements have been prepared on a going concern basis b} Income Income 15 accounted for on a cash receipts basis as the amount is collected and are allocated as either restricted or unrestricted funds according to the terms of the donation. c} Expenditure Expenditure is recognised on a cash payments basis. d) Cash and cash equivalents Cash and cash equivalents includes cash in hand. deposits held at call with banks, other short-term highlv Ilquid investments with original maturities of three months or less and bank overdiafts. el Funds Funds are classified as either restricted funds or unrestricted fund5, defined as follows- Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes. but still within the wider objects of the Club. Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administfative purpose only and does not leBally restrict the tru5tees' discretion to apply the fund. 2. Donations Unrestricted Restricted Total 2018 Total 2017 Donation5 5,000 5,000 3,000 5,000 5,000 3,000 3. Analysis of Expenditure Unrestrirted Re5tritted Total 2018 Total 2017 Charitable Artivities Bursaries Bank Fees Presentation Evening 4,000 19 loo 4,119 19 loo 4,119 25 112 3,137 Total Expenditure 4,119 4,119 3,137 4. Taxation The Latt House Trust is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. 5. Analy515 of trustee remuneratlon and expenses. No trustee recelved any payments other than for out of pocket expenses incurred.