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Registered number: NI637659 Charity number: NIC105396
The James Kane Foundation (A Company Limited by Guarantee)
Trustees’ Report and Financial Statements
For the Year Ended 31 May 2025
The James Kane Foundation
(A Company Limited by Guarantee)
Contents
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 4 |
| Trustees’ Report | DF |
| Independent Auditors’ Report on the Financial Statements | 8-11 |
| Statement of Financial Activities | 12 |
| Balance Sheet | 13 |
| NotestotheFinancialStatements | 14-22 |
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 2025
Trustees
Mr Michael Wilson Mr Gavin Boyd Mrs Lynn Connaughton Mr Charles Jenkins Sir Gerard Loughran Mrs Mary Montgomery Professor Mark Anthony Price (resigned on 26 November 2024) Mr Paul Sweeney
Company registered number NI637659 Charity registered number NIC105396
Registered office Clifton House Centre 2 North Queen Street Belfast County Antrim BT15 1EQ
Independent auditors Sumer AuditCo NI Ltd Statutory Auditors 4th Floor Glendinning House 6 Murray Street Belfast BT1 6DN
SUMER @ NORTHERN IRELAND
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The James Kane Foundation
(A Company Limited by Guarantee)
Trustees’ Report For the Year Ended 31 May 2025
The Trustees present their annual report together with the audited financial statements of the Company for the year 1 June 2024 to 31 May 2025. The Annual Report serves the purpose of both a Trustees’ Report and a Directors’ Report under company law. The Trustees confirm 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 (FRS102).
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
a. Policies and objectives
The objectives of The James Kane Foundation, in accordance with the Charity Commission’s guidance on public benefit, are: “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 education bodies such as schools, colleges 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 enhance career development, skills and competencies within the area of benefit provided that the funding will not be used for anything which schools or colleges have a statutory duty to provide”
And
“To provide any other purpose which is exclusively charitable according to the law of NI”
b. Activities undertaken to achieve objectives
The focus of the Charity’s activities in the period has been to deliver on its objectives by providing direct funding to educational and other charitable bodies, and / or through a series of collaborative programmes with, and the provision of funding support to, other charities, educational, training and skills bodies based around the agreed themes of:
° enabling STEM related education and career opportunities. ° enabling students to make the correct choices between employment/career and higher-level education pathways. . Identifying and supporting emerging trends.
The Charity has supported a range of projects including direct bursaries and scholarships for those faced with financial barriers to education and employment; schools and industry to ensure support and mentoring for young people and apprenticeships within the engineering sector; and projects 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 supported resource sharing across schools impacting on hundreds of teachers and pupils alike. It has recognized and supported unique needs of more vulnerable students while ensuring they too can be equipped with skills for employment. 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 inform its ongoing and strategic decision making.
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The James Kane Foundation
(A Company Limited by Guarantee)
Trustees’ Report (continued) For the Year Ended 31 May 2025
Achievements and performance
a. Key performance indicators
The charity holds its funds in investments and draws these down as needed to meet its grant commitments. The availability of significant cash funds to the Charity has afforded the Trustees the opportunity to 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 term.
b. Review of activities
The following achievements and performance reflect the main expenditure in the year and mostly came in the form of the provision of grants. ° MEGA Mentor Now Programme extension - £104,793 was granted this year to support this project which seeks to encourage and retain engineering apprenticeships by providing essential mentor support. Two posts, Mentoring & Support Coordinator and Education, Mentoring & Support Officer, will further develop the MEGA Mentor Now Programme to bring industry into schools and let young people understand the opportunities of working within local manufacturing companies. It will also promote, influence and develop degree apprenticeships courses (level 6 & 7) with Queen's University and Ulster University and continue to work with Regional Colleges (level 2 to 5) to increase the number of apprenticeships structured to meet the needs of Industry. ° Supporting Communities James Kane Foundation Scholarship - £11,135 was awarded to target 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. Three students were recruited, one from Portadown College, studying Mechanical Engineering at Ulster University, one from St Patrick's High School Keady, pursuing Software Engineering at Queen's University and finally a student from Lismore Comprehensive studying Physics at Queen's University. ° Southern Regional College Scholarship Award - £10,800 was granted to support financially disadvantaged higher education students living within the Armagh, Banbridge and Craigavon council area. These scholarship awards help students stay in education and complete their course by providing funding to pay tuition fees and other course related costs such as equipment, materials, and travel expenses. Five students were successful in the year year. ° Shankill Principals Area Learning Community (ALC) - £10,000 was paid as first of six payments for a three-year project which funds a coordinator post to establish the Shankill Principals ALC. The ALC will develop and encourage collaborative working amongst the schools and the local community. ° Stranmillis University College — Centre for Research in Educational Underachievement - £15,921 was awarded to support a research project and the production of a comprehensive report into Effective School Leadership in Disadvantaged Communities. ° SistersIN Leadership Programme- this funded project builds girls’ leadership capacity and confidence amongst Sixth Form students. An initial grant of £60,000 was awarded in the previous year, to support the costs of a new Director to take forward the project in terms of activity delivery and moving towards financial sustainability. A second grant payment of £25,000 was payable after the financial year end of this report. ° Dreamscheme NI Engaging Young People into Digital Media - £7,800 was granted to this project which aims to equip young people with the competence and confidence needed to engage in the digital media sector. It offers online resources, in person workshops, and mentorship opportunities with industry experts and by digital media learning accessible and engaging, the project builds skills, provides career guidance and inspires participants to pursue careers in STEM pathways.
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The James Kane Foundation
(A Company Limited by Guarantee)
Trustees’ Report (continued) For the Year Ended 31 May 2025
Achievements and performance (continued)
° EOTAS NI Curriculum reform and digital skills hubs - £93,136 was awarded to develop and implement a new OCNNI qualification in Creative Arts and Digital Technologies across all 17 KS4 centres and will include specialist staff training sessions at NERVE Belfast and Derry, W5 LIFE, and AMMA Centre Armagh, covering areas such as photography, filmmaking, game development, and scriptwriting. This project provides pupils from the most disadvantaged backgrounds and that are among the most vulnerable in the school system, with the opportunity to experience a rapidly growing industry and equip them with relevant skills, knowledge and qualifications that will enhance their future career prospects and educational opportunities. . Workplus Jobs for Me - £38,000 was granted in the year to this project that aims to engage 700 Year 9 and 10 pupils as “Career Explorers" to consider the range of STEM jobs available to them in their community i.e. Antrim and Newtownabbey. The project will inspire pupils to think about their skills, showcase pathways to 40 employers and make correct choices between employment/careers through high level education pathways; and understand why work is good for us. ° Young Enterprise NI Building Aspirations Project - £18,308 of funding was awarded to support 18 nonselective schools, with above average free school meals levels, in the Armagh Banbridge and Craigavon Borough Council and Newry Mourne and Down District Council areas. It will provide support to develop a wholeschool approach to providing enterprise and financial skills to over 6,000 students annually for up to 3 years in 3 key strands, financial capability, work readiness and entrepreneurship.
The Charity has also worked with a number of other organisations and approved support to:
- Mary Ann McCracken Bursary programme (Year 3) - £6,000 was awarded in year and paid post year end by the Foundation towards the total bursary fund of £30,000. This fund was made up by donations from the Mary Ann McCracken Foundation and Belfast Charitable Society as well as independent funders, the Hunter Smyth Fund, LFT Charitable Trust and the Raj Darshna Foundation. The bursary programme supported twelve post primary schools in North Belfast Area Learning Community, each of whom received up to £2,500 to support pupils (16+ year-olds) who face financial barriers which may prevent them from continuing to AS / A- Level, further or higher education, employment or apprenticeship. 86 pupils were successful in obtaining support this year. ° North Belfast Creative Digital Hub - £85,000 was awarded to a project to develop and champion the use of digital technology in all subject areas of the post-primary curriculum and which enabled access and joint working amongst North Belfast Post Primary schools.
During the period, the Charity has had ongoing engagement with several organisations in order to ascertain the nature and extent of current challenges facing the education, training and employment sectors in Northern Ireland, and the barriers facing young people moving between these sectors.
Marketing and promotion
The Charity continues its online presence through its website and social media profiles including Twitter and LinkedIn accounts. 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.
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The James Kane Foundation
(A Company Limited by Guarantee)
Trustees’ Report (continued)
For the Year Ended 31 May 2025
Achievements and performance (continued)
c. Investment policy and performance
The Charity’s funds are managed by Rathbones (previously managed by Investec Wealth Management who have merged with Rathbones), 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 low/medium attitude to risk. This is regularly reviewed with Rathbones to ensure that the needs of the Charity for income and capital investment are adequately balanced. In common with many similar organisations, the performance of the Charity’s investments may be adversely affected by the UK and worldwide economic challenges, but the Trustees are satisfied that the nature of the investments is prudent, and that the ongoing attitude to risk remains appropriate.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. 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 is reviewed at least annually. This policy seeks to balance risk and return on investments for the optimal benefit of the Charity.
c. Principal 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 this 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 return for the Charity.
Structure, governance and management
a. Constitution
The Charity and the group is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
The Charity and the group is constituted under a Memorandum of Association and is a registered charity, number NIC105396.
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The James Kane Foundation (A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 May 2025
Structure, governance and management (continued)
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Financial risk management
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Members' liability
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.
Statement of Trustees’ responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) 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).
Company law requires the Trustees to prepare financial statements for each financial year. 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 state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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° select suitable accounting policies and then apply them consistently; © observe the methods 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;
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° prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will 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 to 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 irregularities.
SUMER “ NORTHERN IRELAND
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The James Kane Foundation
(A Company Limited by Guarantee)
Trustees' Report (continued)
For the Year Ended 31 May 2025
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees’ Report is approved has confirmed that:
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° so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
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° that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Sumer AuditCo NI Ltd, have indicated their willingness to continue in office. 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:
Mr Michael Wilson
Date: 25 November 2025
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