CavanaghKelly- Charity Registration Number: 105018 Tyrone Roman Catholic Board Of Education Trustee's Annual Report and Account5 For the year ended 31 March 2024
rone Roman tholic Board Of Education Trustees, Annual Re ort and Accounts CONTENTS For the ear ended 31 March 2024 Page General Information Trustees. Annual Report Independent Examiner's Report Statement of Financial Activities Statement of Financial Position Notes to the Financial Statements 8-12 CavanaghKellyi Chartered Accountants & Statutory Auditors Page I
tholic Board Of Education Trustees, Annual Re ort and Accounts GENERAL INFORMATION Board of Trustees Mr John Joseph Cavanagh Mr Aidan O'Brien Fr Ryan McAleer Fr Patrick Hannigan Fr Martin Mcveigh Mr Aidan O'Neill Mrs Sinead Stewart Fr John Connolly Fr Thomas McHugh (appointed January 2024) Mr Tiernan O'Neill (appointed January 2024) Registered Office St. Patrick's Academy 37 Killymeal Road Dungannon BT71 6DS Charity Registration Number 105018 Independent Examiners CavanaghKelly Chartered Accountants and Statutory Auditors 36-38 Northland Row Dungannon Co Tyrone BT71 6AP CavanaghKelly. Chartered Accountants & Statutory Auditors Page 2
rone Roman Catholic Board Of Education Trustees. Annu Re ort and Accounts TRUSTEES. ANN AL REPORT for the ear nded 31 March 2024 The Trustees have pleasure in presenting their report and the accounts of the charity for the year ended 31 March 2024. Reference and Administration Details The reference and administration details of the charity are as shown on page 2. Objectives and Activities Objectives The principal activity of the charity is to provide funding and support to St Patrick's Academy in Dungannon with the purpose of promotion of knowledge and learning which in turn 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 Catholic Board Of Education 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 2024. Achievements and Performance The school building was officially opened in March 2019 and the payments due in respect of the building contract are now complete. Financial Review Financial Performance The financial performance was in line with the Trustees, expectations. The charity remains 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 incoming resources for the year of £13,417 (2023 net outgoing resources of £2,269). At 31 March 2024, the total funds of the charity amounted to £38,169 (2023 £24,752) comprising entirely of unrestricted funds. Principal sources of funding and how this has supported the key objectives of the charity are disclosed in the notes to the financial statements. Reserves Policy The charity does not maintain a formal reserves policy however the Board of Trustees continue to monitor the level of reserves held by the charity and are satisfied that these are adequate to meet any unforeseen expenditure incurred. CavanaghKellyr Chartered Accountants & Statutory Auditors Page 3
rone Roman Catholic Board Of Edu Trustees, Annual R ndA nts tion TRUSTEES, REPORT f r th ar ed 31 March 2024 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, Responsibilities 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 consistentlyi 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 concern 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. This report was approved by the Board of Trustees on 16 December 2024 and signed on its behalf by: Registered office: st. Patricks Academy 37 Killymeal Road Dungannon BT71 6DS Mr Aidan O'Neill Trustee V4 Jo tee vanagh Chari Re ion Number: 105018 CavanaghKellyi Chartered Accountants & Statutory Auditors Page 4
rone R man es, Annu atholi Bo f Education IRe ort and Accounts INDEPENDENT EXAMINER'S REPORT to the Trustees on the accounts of T tholic Board Of Education for the ear ended 31 Marc rone Rom We report on the accounts of the charity for the year ended 31 March 2024 which are set out on pages 7 to 13. Respective Responsibilities of Trustees and Independent Examiner A5 the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. It is our responsibility to: examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008,. follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008; and state whether particular matters have come to our attention. Basis of Independent Examiner's Report We have examined your charity accounts as required under section 65 of the Charities Act (Northern Ireland) 2008 and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. Our role is to state whether any material matters have come to our attention giving us cause to believe.. That accounting records were not kept in accordance with section 63 of the Charlties Act (Northern Ireland) 2008; or That the accounts do not accord with those accounting records; or That the accounts do not comply with the accounting requirements of the Charities Act (Northern Ireland) 2008,. or That there is further information needed for a proper understanding of the accounts to be reached. Independent Examiner's Statement We have completed our examination and have no concerns in respect of the matters listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. CavanaghKelly Chartered Accountants & Statutory Auditors 36-38 Northland Row Dungannon Co. Tyrone BT71 6AP Date: 16 December 2024 CavanaghKellyy Chartered Accountants & Statutory Auditors Page 5
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man Catholic Board Of Education tees, Annual Re ort and Accounts TATEMENT OF FINANCIAL POSITION as at 31 March 2 24 Note 2024 2023 Fixed Assets Property, plant and equipment Current Assets Cash and cash equivalents 39,818 26,401 Payables: Amounts falling due within in one year Net current assets Total assets less current liabilities 38,169 24,752 Net Assets 38,169 REPRESENTED BY: Unrestricted funds Restricted funds Total Funds 38,169 24,752 These financia I statements were approved by the Board of Trustees on 16 December 2024 and signed on its behalf by: Mr Aidan O'Neill Trustee hn J Cavanagh ru Chari Re istration Number: 105018 CavanaghKellyr Chartered Accountants & Statutory Auditors Page 7
ron Roman Trustees. Annua atholic Board Of Education ort and Acc NOTES TO THE FINANCIAL STATEMENT ear end March 2024 I. GENERAL INFORMATION The charity is an unincorporated charity in Northern Ireland. The charity constitutes a public benefit entity as defined by FRS 102. 2. ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity's accounts. 2.1 statement of Compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charites: Statement of Recommended Practice (SORP) applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (a5 updated through Update Bulletin 2 published on 5 October 2018, applicable from l January 2019), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2008 and the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and UK Generally Accepted Practice as it applies from l January 2015. 2.2 Basis of Preparation The financial statements are prepared on a going concern basis under the historical cost convention unless otherwise stated the relevant accounting policy, Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied conslstently in dealing with items which are considered material in relation to the charity's accounts. 2.3 Cash Flow Statement The charity has applied Update Bulletin 2 as published on 5 October 2018 (Applicable from l January 2019) and does not include a cash flow statement on the grounds that it is applying FRS 102 Section IA. 2.4 Income and Endowments (i) Charitable Activities Income from charitable activities includes income received under contract or where entitlement to grant funding is Subject to specific performance conditions. It is recognised as earned as the related services or goods are provided. Grant income included in this category provides funding to support projects and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. CavanaghKellyr Chartered Accountants & Statutory Auditors Page 8
rone Roman Catholic Board Of Education Trustees, Annual Re ort and Accounts NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 Continued 2. ACCOUNTING POLICIES (Continued) 2.5 Resources Expended Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods and services are supplied. Where costs cannot be directly attributed to a particular heading they have been allocated to activities on a basis consistent with use of resources. Staff costs and overhead expenses are allocated to activities on the basis of staff time spent on those activities. (i) Charitable Activities This comprises all the resources applied by the charity in undertaking its work to meet its charitable objectives. Charitable activities will include the costs of governance arrangements which relate to the general running of the charity. 2.6 Fund Accounting The charity has two types of funds for which it is responsible at the year end., Unrestricted funds - Funds which are expendable at the discretion of the Trustees in furtherance of the objectives of the charity. In addition, funds may be held in order to finance capital investment and working capital. Restricted funds - Income received for specific purposes. Such purposes are within the overall aims of the charity. 2.7 Propertyi Plant and Equipment and Depreciation Property, plant and equipment are initially recorded at cost. 2.8 Trade and Other Receivables Trade and other receivables are initially recorded at fair value and thereafter stated at Cost less impairment losses for bad and doubtful debts. 2.9 Trade and Other Payables Trade and other payables are initially recognised at fair value and thereafter stated at cost. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 9
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man Catholic Board Of E cation ' Annual Re ort and Accounts te TES TO THE FINANCIAL STATEMENTS rthe ear ended 31 March 20 Continued 5. PROPERTY, PLANT AND EQUIPMENT Land & Building Total Cost At 31 March 2023 At 31 March 2024 Depreciation At 31 March 2023 At 31 March 2024 Net Book Values At 31 March 2024 At 31 March 2023 The land and building situated at Killymeal Road, Dungannon has been carried in these accounts at a nominal value of £1. Tyrone Roman Catholic Board of Education hold the legal title to the school building at St. Patrick's Academy, Dungannon however the asset is recognised in St. Patrick's Academy accounts on the basis that the land and building is controlled and beneficial ownership of the property rests with the school, in accordance with the Charities SORP 2015 (Para 10.14). All dealings with the land are inhibited until notice has been given to the Department of Education. 6. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade payables Accruals and deferred income 1,150 500 1,650 1,150 500 CavanaghKellyr Chartered Accountants & Statutory Auditors Page 11
rone Roman Cath lic B f Education Trustees, Ann ort and Accounts NOTES TO THE FINANCIAL STATEMENTS For the ar nded 31 March 2024 Continued ANALYSIS OF NET ASSETS Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Property, Plant and Equipment Current Assets Current Liabilities 39,818 39,818 26,401 38,169 24,752 ANALYSIS OF FUNDS Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Opening balance Income Expenditure Closing balance 24,752 19,703 24,752 19,703 27,021 11,432 CavanaghKelly. Chartered Accountants & Statutory Auditors Page 12