Registered number: N1637659
Charity number: NIC105396
The James Kane Foundation
(A Company Limited by Guarantee)
Trustees. Report and Financial Ststements
For the Year Ended 31 May 2024

Tha James Kane Foundation
(A Company Limited by Guarantee)
Contents
Page
Reference and Administrative Details of the Company, its Trustees and Advisers
Trustees. Report
Independent Auditors. Report on tho Financial Stat•m•nts
7-10
Statement of Financial Activities
11
Balance Sheet
12
Note5 to the Financial Statetnents
13-20

The James Kane Foundation
(A Company Limited by Guarantee)
Reference and Administrative Details of the Company. its Trustees and Advisers
For the Year Ended 31 May 2024
Trustees
G Boyd
L Connaughton
CG Jenkins
Sir G Loughran
M Montgomery
Professor MA Price
P Sweeney
MW Wilson. Chair
Company registered
number
N1637659
Charity registered
number
NIC105396
Registered office
Clifton House Centre
2 North Queen Street
Belfast
County Antrim
BT15 1EQ
Independent auditors
Sumer Auditco Nl Ltd
Statutory Auditors
4th Floor
Glendinning House
6 Murray Street
Belfast
BT16DN
SUMER
NORI HERh, !4.fLAND
Page 1

The James Kane Foundation
(A Company Limited by Guarantee)
Trustees. Report
For the Year Ended 31 May 2024
The Trustees present their annual report together with the audited financial statements of the Company I'the
Charity'l for the year 1 June 2023 to 31 May 2024. The Annual Report seNes the purpose of both a Trustees,
report and a Directors, report under company law. The Trustees confirrn that the Annual Report and financial
statements of the Charity comply with the current statutory requirements of the Charity's Memorandum and
Articles of Association and the provisions of the Statement of Recommended Practice (SORP) applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS1021.
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report
required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Objectives and activities
Policies and objectives
The objèctivÈs of The James Kane Foundation: in accordance with the Charity Commission's guidanco on public
benefit. is.
'To advance education for the public benefit in Portadown and its environs in particular and elsewhere in
Northern Ireland whether directly to individuals or indirectly through cducation bodics such as schools, collcgcs
or third level Institutions or employers by the provision of funding for work experience. employment opportunities
or training opportunities or for preparation for entry to any occupation, vocation. trade or profession or to
.nhance career development, skills and competencies within the area of benefit provided that the funding will not
be used for anything which schools or callege5 have a statutory duly to provide
And
"To provide any other purpose which 15 exclusively charitable according to the law of Nl"
b. Main activities undertaken to further the charity's purposes for the public benefit
The focus of the Charity's activities in the period has been to deliver on its objectives throJgh a mixture of direct
funding to educational and other charitable bodies, and also through a serTes of collaborative programmes with,
and the provision of funding support to: other charities, educational, training and skills bodies.
The Charity has supported a range of projects including direct bursaries for those faced with financial barriers to
education and employment.. and made significant investment in school food programmes and cost of living
support for schools and families in deprived areas across Northern Ireland. There was also investTnent in pilot
projects supporting work placements, coding initiatives for those not in school and leadership programmes for
Year 13 girls. The Charity financed mentoring and apprenticeships within the engineering sector and committed
to champion digital technology across all subjects of the post-primary curriculum. At a strategic level it has
supported research projects that assess current delivery models within schools and within the wider workforce.
The Charity continues to engage with a range of stakeholders to enable Trustees to keep abreast of wider policy
development, initiatives, trends, and emerging needs that can help infonn its ongoing and strategic decision
making.
SUMER
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The James Kane Foundation
(A Company Limited by Guarantee)
Trustees, Report (continued)
For the Year Ended 31 May 2024
Achievements and performance
. Key financial performance indicators
The charity holds its fund5 in investments and draw these down as needed to meet its grant commitment5. The
availability of significant cash funds to the Charity has afforded the Trustees the opportunity lo carefully and
strategically consider the charitable opportunities now open to it, and the manner in which it can make a
meaningful and substantial impact in the short and longer temi.
b. Review of activities
The following achievements and perfomance refled the main expenditure in the year and mostly came in the
fomi of the provision of grants.
Workplus Ltd Shared Apprenticeship Agency Research (Year 2) - £4.3SO of funding was approved to
support a consultation process with a variety of stakeholders, including the Department of Educalion, further
education ¢ollegas and unwersities, training organisations and the Federation of Small Businesscs, exploring the
viability of a Shared Apprenticeship Agency.
Workplus Developing transversal skills in young people £22.680 to provide support and training for
teachers at 12 schools across the Antrim and Newtownabbey Borough Council, giving young people a¢¢ess to
skills assessment, career planner and a work experience platform.
SisterslN £60,000 provided to employ a Director of Growth and Operations. SisterslN is a Leadership
Programme which aims to foster girls, leadership capacity 2nd confidp.nr.g. amnngst its Siyth Form students. In
2023124 it has almost 400 active mentors from 134 organisations across 71 professions. engaged 379 pupils
from 28 schools in over 1700 hours of mentoring and 370 job shadow day5. 11 has been formally endotsed by the
William J Clinton Leadership Institute and hosted a 2048 - The Future Starts Now speaking event at stormont
and had over 1,000 attendees at a celebration event.
MEGA Apprenticeship Mentoring and Support Officer Role £42,500 in this year. The Foundation
continues to support this project which seeks to encourage and retain engineering 2pprenticeshipg by providing
essential mentor support. There now are 44 Degree Apprenticeship Employers, 70 member companies, 54 fee
paying members and a masterfs degree apprenticeship with Queen's University Belfast and a series of
Masterclasses.
Dickson Plan - Joint Mentor Scheme - £60,000 towards a shared resource of mentor l youth I family
worker for Pupils of Clounagh Junior High School. Killicomaine Junior High School, Lurgan Junior High School
and Tandragee Junior High School.
Supporting Communities
James Kane Foundation Scholarship £7,335 - targets students in the
Armagh, Banbridge & Craigavon Council (ABC) area who are applying to Queen's or Ulster University to study
STEM (Science, Technology. Engineering, Mathematics) degrees. Successfully recruited students studying
physics and computer science.
Southern Regional College Scholarship Award £5.400 to support financially disadvantaged higher
education students living within the Armagh. Banbridge and Craigavon council area to help students stay in
education and complete their course by using this funding to pay tuition fees and other course related costs such
as equipment, materials. and travel expenses. Three students were successful this year.
The Charity has also worked wtth a number of other organisation's and approved support to..
ABC Area Post Primary Bursary Programme- £15,000 for a programme operating within the Armagh,
Banbridge and Craigavon Council area, which 15 intended to alleviate financial barriers for those wishing to move
to higher education and or employment from secondary schools.
SUMER
NORTHERN IRli41 ND
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The James Kane Foundation
(A Company Limited by Guarantee)
Trustees. Report (continued)
For the Year Ended 31 May 2024
Achievements and performance (continued)
Mary Ann Mccracken Bursary programme (Year 3) - For a third year. the James Kane Foundation, the
Mary Ann Mccracken Charity and Belfast Charrtable Society along with independent funder the Hunter Smyth
Fund, LFT Charitable Fund and the Raj Darshna Foundation supported the Mary Ann Mccracken bursary
programme for ￿e1ve post primary Schools in North Belfast. Each school within the North Belfast Area Learning
Community received up to £2,500 to support pupils {16+ year-oldsl who face financial barriers which may
prevent them from continuing to AS I A-Level, further or higher education. employment or apprenticeship.
North Belfast Creative Digital Hub - £50,000 has been committed lo a project. based in St Malachy'5
College, Belfa51, to develop and champion the use of digital technology in all subject areas of the post-primary
curriculum which includes the provision of access to four other North Belfast Post Primary schools.
Schools Cost of Living Grants - L13T.22U was committed to tund school tood programmes, 30 schools
from some of the most deprived areas of Northem Ireland were provided with financial support to help schools
and families amid the cost-of-living crisis and to ensure children were fed. ready to concentrate and. The schools
ranged from Sl Cecilia's College, Derry lo Brownlow College. Craigavon. Since Belfast Charitable Society started
this initiative, other funders in addition to the Charity have also come on board to support schools with food
programmes. These include Ulster Garden Villages and the ARN fund, amounting lo nearly £250,000 of funding.
Ouring the period. the Lmarity has had ongoing engagement with several organisations in order lo ascertain the
nature and extenl of current challenges facir)g the education, training and employment sectors in Northern
Ireland,and Ihe barriers facing young people moving between these sectors.
Marketing and Promotion:
Tlie Cliai ily Luiiliiiueb 115 online and Social media profiles. Twitier and Linkedln accounls. This has allowed it to
engage with a wider audience, and to better promote its charitable activities with relevant audiences and
stakeholders and is updated on a regular basis
Investment policy and performance
The Charity's funds are managed by Rathbones (formerly Investec), with whom the Charity has agreed the terms
of management of its portfolio_ These include a medium-term investment time horizon of 5 years, with a
lowlmedium attitude to risk. This is regularly reviewed with Rathbones to ensure that the need5 of the Charity for
income and caprtal Investment are adequately balanced. In common wtth many similar organigalions, the
performance of the Charity's investments may be adversely affected by the UK and worldwide economic
challenges, but the Truslees are satisfied that the nature of the investments is prudent. and that the ongoing
attitude to risk remains appropriate.
Financial review
. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequale
resources to continue in operational existence for the foreseeable fulure. For this reason, they continue to adopt
the going concern basis in preparing the financial slatetnent5. Further details regarding the adoption of the going
concern basis can be found in the accounting policies.
b. Material investments policy
The Trustees have developed an investment policy with Rathbones which 15 reviewed at least annually. This
policy seeks to balance risk and return on investments for the optimal benefit of the Charity.
NOTr,fHERTr￿ IRELAf ND
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The James Kane Foundation
IA Company Limited by Guarantee)
Trustees. Report (continued)
For the Year Ended 31 May 2024
Prlncipal risks and uncertainties
The challenges facing the UK and global economies have increased the risk of educational and employment
poverty. The Charity does not consider that thi5 poses a material risk to its financial well-being.
d. Financial risk management objectives and policies
The Trustees have appointed Financial Investment Advisors to provide advice on the financial risk management
of its cash balances seeking to balance risk with optimising the retum for the Charty-
Structure. governance and management
a. Constitution
The Charity is registered as a chafilable company limited by guarantee and was set up by a Memorandum of
A550Gialion and is a registered charity, number NIC105396.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibilty of the Trustees who are elected and co-opted under the
terms of the Trust deed.
. Risk management
The Trustees have assessed the major risks to which the Charty is exposed, in particular those related to the
operations and finances of the Charity and are satisfied that systems and procedures are in place to mitigate
exposure to the major risks.
Members. liability
The Members of the Charity guarantee to contribute an amount not exceeding £1 to the assels of the Charity in
the event of winding up.
ststement of Trustees. responsibilities
The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for
preparing the Trustees, Report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
SUMER
ORTHERN IRELAf ND
Page 5

The James Kane Foundatioii
(A Company Limited by Guarantee)
Trustees. Report (continued)
For the Year Ended 31 May 2024
Statement of Trustees. responsibilities (continued)
Company law reqLJires the Trustees to prepare financial stalements for each financial. Under company law, the
Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of
the 518te of affair5 of the Company and of its incoming resources and application of resources, including its
income and expenditure, for that period. In preparing these financial slatements, the Trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the melhods and principles of the Charities SORP (FRS 102),
make judgments and accounting estimates that are reasonable and prudent-,
state whether applicable UK Accounting Standards {FRS 102) have been followed. subject to any material
departures disclosed and explained in the financial statements..
prepare the financial statement5 on the going concern basi5 unless it is inappropriate to presume that the
Companywill continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Company's transactions and disclose with reasonable accuracy at any time the financial position of the
Company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregu13ritie5.
Disclosure of information to auditors
Each of the persons who are Trustees at the time when Ihis Trustees, Report is approved has confirmed that..
so far as that Trustee is aware. there is no relevant audit infomation of which the charity's auditors are
unaware, and.,
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audil information and lo establish thal the charity'5 auditors are aware of Ihat information.
Auditors
The auditors, SumerAudilCo Nl Ltd (formerly ASM (B) Ltd). were appointed, following a lender process. The
designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
MW Wilson
Date.. 26 November 2024
SVMER
or4Y41Rp4 IRELMNO
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