Macan Trust for the Blind (Northern Ireland Charity Commission Number: 104924) Report of the Trustees and Audited Financial Statements for the year ended 31 December 2023 Noel Conn & Company Chartered Accountants Macan Trust for the Blind Accounts for the year ended 31 December 2023 Contents Page Trustees and Other Information.......... Report of the Trustees. Statement of Trustees, Responsibilities............................................ Independent Examiner's report to the Trustees................................................,. Statementof FinancialActivities............................................................................. Statement of Financial Position.......................................... .10 Notes totheFinancial Statements................................................... Macan Trust for the Blind Trustees and Other Information Trustees Archbishop John McDowell Archbishop of Armagh Most Revd Eamon Columba Martin Archbishop of AThagh Revd Thomas Shane Forster Mr George Henry Emerson Mrs Laura Hassan Mr Desmond Robert David Mitchell Miss Melanie Houston Contact Details Dr Stephen Day Summerhill 28 Tullygarden Road Richhill Amiagh BT618QT Telephone.. 028 38871831 Email- themacantrusttortheblind@gmail.com Independent Examiner Noel Conn FCA 7 Seven Houses English Street Amagh BT617LA Bankers AIB 18-20 Scotch Street Dungannon BT70 1AZ Charity Commission Nl Number 104924 Macan Trust for the Blind Trustees report for the year ended 31 December 2023 The Trustees present their report along with the financial staternents of the cha￿ty for the year ended 31 December 2023. The financial statements have been prepared in accordan￿ with the accounting policies set out of page 11. Constitution Macan Trust for the Blind is a non-incorpordted body and is an ac￿pted charity by the Charity Commission Northern Ireland on the 1 April 2016 under number104924. Organisation The Twstees who have served during the year are detailed out on page 3. Public Benefit The Trustees believe that both our purwses and the activities undertaken in this last financial year clearfy satisfy elements of the public benefit requirement. Statement of Public Benefit Our purpose is to provide financial assistan￿ to organisations in Amagh City and surrounding district who support the blind in their local communities. We also provide financial assistance to any recognised Charity for the Blind as the trustees, after consultation with the committee, think fit, provided that the trustees are satisfied that the recipient thereof shall apply such income or capital las the case may bel for the benefit of the prescribed class. ("Recognised Charlites for the Blind. shall include the Royal National Institute for the Blind and such other institutions or trusts provided for the blind in Northem Ireland recognised as charitable according to the law of Northem Ireland.} The direct benefits which flow from this purpose are the enabling of the provision of comforts and special equipment to improve the quality of life and opportunities of members of the 'prescribed class.. {The "Prescribed Class. means blind persons in Northern Ireland, preference being given to blind persons resident in the cty of Armagh and surrounding district.) These benefits are evidenced through:_ (al Feedback from beneficiaries (b) A survey of yearly applications including what the previous yearfs grant monies were spent on and what the forthcoming yearfs grants will be spent on Icl Regular independent evaluation of our servI￿S What is Macan Trust for the Blind We liaise with local groups and organisations who provide support to the blind in their own communities. In November of each year the Secretary of the Macan Trust writes to their representatives inviting them to make application for grant monies for the following year. In late Januaryleady February the applications are considered by the Advisory Committee and their recommendations are presented to the Tnjstees who decide on the merits of each application. Where grants are approved the monies are provided at a formal presentation in March. {Special applications can be submitted at any time of the year.) During the year ended 31 December 2023 the charity donated support to 14 groups and organisations, ranging from donations of£680 to £2,000. Macan Trust for the Blind Financial review and Investment Policy During the year ended 31 December 2023. the charity received investment income of £20,914 which yielded a surplus of £5,303. Risk Management The Trustees have examined the Major strategic, business and operational risks which the charity faces and confimi that systems have been established to enable regular reports lo be produced so that the necessary steps can be taken to reduce these risks. These include quartedy reports from Evelyn Partners on the investments held and how they have performed, along with any recommendations on how to minimise the risk of those investments while yielding a good retum to enable the charity to give grants to those in need. By order of the Trustees +-ak Archbishop John McDowell Date Macan Trust for the Blind Statement of Trustees, Responsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the Financial Statements in accordance with the applicable law and United Kingdom Accounting Standards. The law applicable to charities in Northem Ireland requires the twstees to prepare financial ststements for each financial year. Under that law the trustees have prepared the financial statements in accordance with Generally Accepted Accounling Practice in the United Kingdom (accounting standards issued by the Financial Reporting Council in the UK, including Charities SORP (FRS 102). Accounting and Reporting by Charities.. Statements of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102} and promulgated by the Institute of Chartered Accountants in the United Kingdom and United Kingdom Law). Underthat law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charity and of the statement of financial activib'es of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting polrcies and then apply the consistentty; observe the methods and principles in the Charities SORP" make judgements and estimates that a reasonable and prudent,. state whether the application of accounting standards have been followed, subject to any material departures disclosed and explained the Financial Statements., prepare the Financial Statements on the going con￿rn basis unless it is inappropriate to presume that the charity wtll conb'nue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial ststements comply with the Charities Act {Northem Ireland) 2008 and the Charity (Accounts and Reports) Regulations (Northem Ireland} 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integiity of the Cor￿rate and financial informatior) included on the charities websile. Legislation in the United Kingdom goveming the preparation and disseminats'on of financial statements may differ from legislation in otherjurisdictions. statement as to disclosure to our auditors In so far as the trustees are aware at the timing of approving our trustees, annual repDrt'. there is no relevant accounts infomiation of which the charitable company's independent examiner is unaware; and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomation and to establish that the company's auditor is aware of that information. Macan Trust for the Blind Independent Examiner A resolution to re-appoint the Independent Examiner. Noel Conn FCA. wll be proposed at the annual general meeting. By Order of the board By order of the Trustees Archbishop John McDowe Date Macan Trust for the Blind Independent Examiners Report for the year ended 31 December 2023 We report on the financial statements of Macan Trust for the Blind as set out on pages 9 - 13 for the year ended 31 December 2023, which comprise of the Statement of Financial Activities, The Balance Sheet, and the related notes. The financial reporting framework that has b￿n applied in their preparation is applicable law and Ihe Financial Reporting Standard for Smaller Entities (effective April 2008). This report is made solely to the Charity Trustees, as a kx)dy, in accordan￿ wtth regulations made underthe Charities Act (Northern Ireland) 2008. Responsibilities of the Macan Trust for the Blind Trustees and Examiner As the charity's trustees you are responsible for the preparation of the accounts in accordan￿ with the Charities Act (Northem Ireland) 2008. It is our responsibility to.. examine the accounts under section 65 of the Charities Act follow the prO￿dureS laid down in the general Directions given by the Commission under section 65(91{b} of the Charities Act state whether particular matters have come to my attention Basis of Independent ExamineVs Report We have examined yourcharity accounts as required under section 65 ofthe Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northem Ireland under section 65(9)Ib) of the Charities Act. Our 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 conceming any such matters. Our role is to state 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 Charities Act 2. That the accounts do not accord with those accounting records 3. That the accounls do not comply wth the accounb'ng requirements of the Charities Act 4. That the is futher infoThation needed for a proper understanding of the &counts to be reached Independent examinerfs statement I have completed my examination and have no concems in respect of the matters (1) to14) listed above and, in connection with following the Directions of the Charity Commission for Northem Ireland, I have found no matters that require drawing to your attention. - La'XiJ Noel Conn FCA Chartered Accountant 7 Seven Houses Upper English Street Armagh BT617LA Date Macan Trust for the Blind Statement of Financial Activities for the year ended 31 December 2023 Unrestricted Funds 2023 Restricted Funds 2023 Total Funds 2023 Total Funds 2022 Notes Incoming Resources: Investment Income Grants Receivable 20,914 20,914 19,682 Total Incoming Resources 20,914 20,914 19,682 Resources Expended: Fundiaising and Publicity Net Income from Resources Available For Charitable Applications 20,914 20,914 19,682 Charitable Expenditure: Cost of activities for charitable objectives Management and Administration Total Charitable Expenditure 9,164 6,447 8,280 6,725 15,611 15,611 15,005 Total Resources Expended 15,611 15,611 15,005 Net IncomelExpenditure for the year Gross Transfers belween funds Net Incomel{expenditure) for the year 5,303 5,303 4,677 5,303 5,303 4,677 (Loss)IGain on Investments (60,444) (60,444) (6,766) Reconciliation of Funds Total funds brought forward 547,795 547,795 549,884 Total Funds to Carry Forward 492,654 492,654 547,795 Macan Trust for the Blind 10 Statement of Financial Position as at 31 December 2023 Employment of Capital Notes Unrestricted Restricted Funds Funds 2023 2023 Total Funds 2023 Total Funds 2022 Investments Investments 434,018 434,018 506,376 Current Assets Debtors and Prepayments Bank and Cash 58,635 58,635 58,635 58,635 41,419 Current Liabilities Sundry Creditors and Accruals Net Current Assets 58,635 58,635 41,419 Total Assets Less Current Liabilities 492,653 492,653 547,795 Funds Unrestricted Funds Restricted Funds 492,653 549,884 492,653 549,884 l approve these accounls on behatf of the Board of Trustees and Conffi￿ that we have made available all relevant records and infomiation required for their preparation Archbishop John McDowell Trustee Date Macan Trust for the Blind 11 Notes to the accounts for the year ended 31 December 2022 Principal accounting policies The financial statements have been prepared in accordance with applicable Accounting Standards in the United Kingdom and the Charities Act (Northem Ireland) 2008 A summary of the more important accounting policies, which have been applied consistently, is set out below. Basis of accounting The financial statements are prepared in accordance with the historical cost convention modified by the revaluation of certain fixed assets. Taxation The charity is exempt from tax on its chatitable activities. Restricted Funds Restricted funds are accounted for in accorlance with the particular tems of trust arising frorn the express or implied wishes of the donors in so far as these are intended lo be binding on the charity. Where such wishes are not intended to be binding, they are taken into account and recognised in appropriately designated funds. Unrestricted Free Reserves Free Reserves represent amounl which are expendable at the discretion of the trustees in furtherance of the objectives of the charity and which have not been designatsd for any other purpose. Such funds may be held in order to finance working capital or capital expenditure. Incoming Resources Voluntary income or capital is included in the Statement of Financial Activities when the charity is legalty entitled to it, its financial value can be quantified with reasonable certainty and there is reasonable certainty of its ultimate re￿ipt. Entitlement to legacies is considered established when the charity has been notified of a distribution to be made by the executors. Income re￿iVed in advance of due perfO￿anCe under a contract is accounted for as deferred income until earned. Grants for activities are recognised as income when the related conditions for legal entitlement have been met. All other income is accounted for on an accrual basis. Resources Expended All resources expended are accounted for on an accrual basis. Charitable activities include costs of services and grants, support costs and depreciation on related assets. Costs of generating funds similarty include fundraising activities. Non -staff costs not attributed to one category of acts'vity are allocated or apportioned pro-rat to the staffing of the relevant Se￿]ce. Finance, HR and administrative staff cosls are directly attributable to individual activities by objective. Governan￿ costs are those assoGiated with constitutional and statutory requirements. Government grants Grants that relate to specific capital expenditure are treated as deferred income, which is then credited to the Statement of Financial Activities over the related assevs useful life. Revenue grants are credited to the Statement of Financial Activities in the same year as the related expenditure is incurred. Macan Trust for the Blind 12 Costs of Activities in For Charitable Purposes Unrestricted Restricted 2023 2023 Total 2023 Total 2022 Grants 9,164 9,164 9,164 9,164 8,280 8,280 Management and Administration Unrestricted Restricted 2023 2023 Total 2023 Total 2022 Honorarium - Secretsry Secretary Expenses Honorarium - Independent Examiner Stockbroker Fees StationarylPrintinglAdvertising Bank Charges 1,000 249 1,000 249 468 4,565 87 78 6,447 1,000 321 438 4,831 58 78 6,726 468 4,565 87 78 6,447 Investments Equity investments are stated at the lower of original cost or current book value on the Balance Sheet Inveslment with Smith and Williamson 2023 2022 Cost At1 January 2023 Additions at Cost Disposals at Cost Revaluation Total Cost at 31 December 2023 506,376 9,926 (28,6721 (53,6121 434,018 524,639 24,881 (43,144) 506,376 Debtors and Prepayments 2023 2022 Investment Income Macan Trust for the Blind 13 Sundry Creditors and Accruals 2023 2022 Accountancy Sundry Creditors Movement in Funds At the Movement Transfers 0110112023 In Funds In Funds At the 3111212023 Unrestricted Funds General Fund 535,847 5,303 {60,444) 480,706 Restricted Funds Restricted Total Funds 535,847 5,303 {60,444) 480,706 Net Movement in Funds, included in the above are follows: Incoming Resources Movement Resources Expended in Funds Unrestricted Funds General Fund 20,914 (15,611) 5,303 Restricted Funds Restricted Total Funds 20,914 (15,611) 5,303 Auditor and Independent Examiner Payments 2023 2022 Independent Examiner Other Financial Services 468 438 468 438 Trustees, Remuneration and Benefits No trustee received any remuneration during the yearended 31 December 2023 (2022-Nil). No Trustee received any reimbursement for approved expenses incurred in connection with the charity.