rone Roman Catholic Board Of Education Tru ' Annual R orta un TRUSTEES. ANNUAL REP RT for the ear nded l March 202 The Trustees have pleasure in presenting their report and the accounts of the charity for the year ended 31 March 2023. Reference and Administration Details The reference and administration details of the charity are as shown on page 2. Objectlves and Actlvlties Objectives The principal activity of the charFty is to provide funding and support to St Patrick's Academy in Dungannon with the purpose of promotion of knowledge and learning which in tum encourages development of skills and understanding which promotes family life, community cohesion, new skills, talent and creativity and encourages employment through the establishment and maintaining of schools. Activities The charity's activities include the provision of funds for St Patrick's Academy Dungannon, going towards the building of a new school premises. Public Benefit statement The Trustees of Tyrone Roman Cathollc Board Of Educatlon confirm that they have complied with their duty under section 4(6) of the Charities Act (Northern Ireland) 2008 to have regard to the Charity Commission for Northern Ireland's guidance on public benefit and that the public benefit requirement has informed the activities of the charity in the year ended 31 March 2023. Achievements and Performance The school building was officially opened in March 2019 and the payments due in respect of the building contract are now considered complete. Flnancial Review Financial Performance The financial performance was in line with the Trustees, expectations. The charity remalns In a sound financial position at the year-end. The results for the year are set out in detail on pages 7 to 13. The charity had net outgoing resources for the year of £2,269 (2022 net incoming resources of £2,673). At 31 March 2023, the total funds of the charity amounted to £24,753 (2022 £27,021) comprising entirely of unrestricted funds. Principal sources of funding and how thi5 has supported the key objectives of the charity are disclosed in the notes to the financial statements. Reserves Pollcy The charity does not maintain a formal reserrfes policy however the Board of Trustees continue to monltor the level of reserves held by the charity and are satisfied that these are adequate to meet any unforeseen expenditure incurred. CavanaghKellyw Chartered Accountants & Statutory Auditors Page 3
rone Roman Catholic Board Of Education Tru te ' Annual R ort and Accoun TRUSTEES. REPORT for the ear ended 31 March 2023 Continued Structure, Governance and Management Organisational Structure Tyrone Roman Catholic Board of Education is a charity administered and managed in accordance with its constitution, under Scheme No.34, framed under the Educational Endowments (Ireland) Act 1885 and its subsequent amendments. Trustees, Responslbllltles The Trustees are responsible for preparing the Trustee's Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the incoming resources and application of resources. including the income and expenditure, of the charity for that year. In preparing these financial statements the Trustees are required to: select suitable accounting policies and apply them consistently; observe the methods and principles in the Charities SORP 2019 (FRS 102); make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008, the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and the provisions of the trust deed, 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. Thls report was approved by the Board of Trustees on 12th May 2023 and slgned on its behalf by: Registered office: st. Patricks Academy 37 Killymeal Road Dungannon BT71 6DS Mr Aidan O'Neill Trustee hnjca nagh Chari Re istration Number: 105018 CavanaghKellyy Chartered Accountants & Statutory Auditors Page 4