Desmond Whyte Charitable Trust
Statement of ffftancial activities
For the year ended 30 June 2023
Restricted
ttds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
InvestmeTrt5
39,191
39,191
62,084
Total incomo
39,191
39,191
62,084
Expendituro on:
ClIAritable actiirities..
Direct costs
68,430
28,396
68,430
28,396
65,995
33,883
GoV￿nanCe costs
Total expenditure
96,826
96,826
99.878
Net expenditure before net 9ainsl(losses) on
investments
(57.635)
95,216
(57,635)
95,216
(37.794)
(257.043)
Net gAins/O
osscs
on iThvestmcnts
Net movement in funds
37,581
37,581
(294,837)
Reconciliation of funds:
Total lunds brouglit Eonvard
Nct movemcnt in fi]nds
3,463,928
37,581
3,463,928
37,581
3.758,765
(294,837)
Total funds carried forward
3,501,509
3,501,509
3,463,928
All amounts relate to continuing operations.
Tlic notc5 on pages 9 to 15 form part of these fin2ncial stAtements.
PaJe 7

Desmond Whyte Charitable Trust
Balance sheet
For the year ended 30 June 2023
2023
2022
Note
Fixed assets
Inirestments
3,502,165
3,420,739
Current assets
Casli at bftnk and in hand
1,744
43,789
1,744
43.789
Crcditors: amounts Ealling dve ivitliin one )¢at
(2,400)
(600)
Net current Ilabilities l assets
(656)
43,189
Total net assets
3,501,509
3,463,928
Charlty funds
Restricted funds
io
3,501,509
3,463,928
Total funds
3,501,509
3,463,928
Tlie financial stAtcments l)Ave been prepared in accordance ivith thc prowsions OF FRS 102 Section IA
cnUtic5.
sn)2ll
'riic ￿11ncial 5t2tements ivere approired and autlioiised for issue b). dic Trustce on 29 April 2024 iiid signed on
tlieir belixlf b),:
Cleaver Fiilto
(riustee)
Rankin Triistees Limited
Tlie notes on pages 9 to 15 form part of tlicse financial statements.
PaJ8 8

Desmond Whyte Charitable Trust
Notes to the fmancial statements
For the year ended 30 June 2023
General information
Tlie Dc5mond Ivliyte Charitable 'fiust is an unincorporated tmst. Its Princip￿ office is 50 Bedford Street,
Belfast, Bl'2 7ThV, and it has a diarity registtation number of 105526.
Accounting policies
2.1 Basis of ptepatatiott of financial statements
1'1ie fAnanci21 st2tement5 arc pIepared on a going concern basis, under the Iiistorical c05t coniTCQtion
unless odieThvkse noted in tl)e accounting policies beloiv. Thes, II%iTe been prepared in accoid14 nce ivitli
appLicable laiv 2nd accounting standards issued b). die FinanciAI RcpoIting Council, including FRS102
"TRie Financial Reporting Standxrd Applicablc in the UK and Rcpublic of Iieland" ("FRS102"). and tlie
Stateti]ent of Recommended Practice- Accountsng and Reporting by Cl)arities, effective l J?nuariT 2019
("SORP').
The financlal stAtements are presented in pounds Sterling (£).
The Desmond Ivhyte Cljaritabk Trust constitutes a pub]ic benefit entity as defined b), FRS 102.
2.2 Going concem
Tlie trnstees have assessed that tlie Desmond Ivhyte Charitable Tnist lias adequ%te resources to meet
the ongoing costs of thc cntity for a minimum of 12 mondis from thc dRtc of sigtLittg the financial
statements. For this reason the financial statements have been prepared on a going concern basis ivliicli
presumes the rc%disAtion of assets and liabilitic5 in tlie norm%LI course of busine55.
2.3 Income
All income is Iecogniscd oncc the Trust has cntidcment to the income, it is probablc that the Income
vill be ieceived and the amount of income receivable can be measured reliably.
Investment income is indudcd ivhen Icccivabl
Income t2N recoveiAble in relation to investment income is recognised at d)e time the inverstment
incomc is rccoverablc.
2.4 Expendittire
Expcnditurc 15 recognised once thete is a le821 or constructive obligation to transFer economic beneFit to
a third party, it is probable dikt a transfer of economic benefits ivill be iequtred in setdement and the
mount OF the obhgAtioTh can be mea5urcd reliAbl)'. Ex"penditure is d2ssified b)F activity. Tlie costs of
eacli actiirity are m2de up of tlie total of direct costs and sliared costs. including suppoit costs involired
in und￿tAkIng e2cli activity. Direct Costs attributablc to A single activtty arc allocated direcd}' to tliat
ctivity. Shaicd costs ivhicli contribute to more than one actAiqtsr Support costs ivhich are not
attributable to a single activit)p are appoitioned bettveen tliose actiiTities on a basis consistent ivitli die
use of resources. Centrnl staff costs are allocated on the basis of time spent. and depreciation cli2rges
alk)cated on the portion ol die assefs use.
Govern￿nCe costs include those costs associAted Ivith mcctiiig the constitutional and statutory
requirements of the trust.
All cxpenditure is indu5ive ol irrecoverable VAT.
PJJe 9

Desmond Whyte Charltable Trust
Notes to the fmancial statements
For the year ended 30 June 2023
Accountin9 policies (continued)
2.5 Investments
FiKcd asset investments are a form of finttncial instrumcTht and Are initiall5T recognised at tlieir transaction
cost 41nd subsequendy mcasuicd at fair value at tlie Balance 51icet dAtc, unlc5S tIIc iTAlue cannot be
measurcd ieliabl}T ￿ ivlllcli case it 15 mcasuicd at C05t less iinpaiiment. ItivestnieIit gains 14 nd losses,
Ivlietlier ie14 lised or unrcali5cd, are con]bined and presented as 'G2ins/(Losses) on investments, in tlic
Statement of financial activities.
2.6 Cash at bank ottd in hand
Casli at bank and in 112nd includcs cAsh and sliort-term Iiigldji liquid inirestment5 Ivith a 5110rt niaturlty
of thrcc inonths or less from the date olacquisiuon oi opening of die depostt or siinilar accouot.
2.7 Liabilities and provisions
Lillbffilities 1rc Iccogniscd Trvhcn there is An obligation at tlic ]lalancc slicct datc as A iesult of q pq5t event,
it 15 pIobable diat a transler OF econoinic bcncfit ivill be required ￿ setdelnent, and tlie ainount of tlie
settlement can be estimxted reliably.
Lirfibilities atc iccognised at tl)e amount diat tl)e Tiust anticipatC5 It ivill pa), to 5etdc dic debt or tlie
amount it Ill￿ received as 2diranccd pa)Ttncnts foI die goods oi setyices it must proiTidc.
Provisions are measured at the best estimTrtc of the ainounts required to settle tlie obkngll tion. Ilqicic tlic
effcct OF tlic ttine value of money is material. tlic piovision is based on die preserAt value of tliose
amounts, discounted at tlie prc-tax discount rate tIiAt reflects tlie risks specific to tlie ii1bility. Tlic
univinding OF tlie discoiint 15 recognised in die Statement OF fmancial actiVitic5 as a f￿ance cost.
2.8 Fiind accoiinting
General funds lire unrestticted funds ivhich Arc availqblc foi use at tlie discretion of tlie Ttiistee in
luttljcnncc OF thc gener21 objectives of tl)e Trust and Trvhich havc not been designated For odier
P￿￿Oses.
Restticted funds arc Eund5 Ivhidi ate to be used in accoidance ivitli speckfic restrictions iniposed b},
donors OI ivhich IIAve been raised by die Trust lor pArticulRr purposc5. The costs of raising 2nd
adii]inistering sucli tunds xic chargcd kg2illSt tlie specific fithd. The aim and usc of cacli rc5tt1Ctcd fund
15 5Ct out in die notes to the financial statemcntS.
Page10

Desmond Whyte Charitable Trust
Notes to the f￿anCIal statements
For the year ended 30 June 2023
Critical accounting estlmates and areas of Judgement
Estim%tes And judgements are required ivl)en applying accounting i)olicies. Tliese are continuall)F eV￿li]￿ted
and arc ba5cd on l]istorical experience 2nd otlier factors, including Lxpectations of futurc CiTellt5 tliat are
believed to be reasonable undei the circumstances.
Thc Trust makes estimate5 and assumptions concerning die future ivl]ich involve a Iiigli dc8tee OE
judgement or complexity. The resulting accouting estimates ivill. b), definition. seldom equ21 tlie related actuAI
Iesults. Tlie estimates 2nd assumptions that liave a significant risk of causmg a material 2djusttnent to tlic
carrying amounts of assets liAbilities ividiin the next financitd yeAr are addressed beloiv:
Fait value of investments
Uses iTArious iyaluation tecljniques to determine the fatr Iralue of fmancial instruments (Ivhere 2ctiITe market
quotes Are not available) and non-financial assets. Tliis inirolves developing estim2tes and assuniptions
COn515tent ivitli hoiv markct participants ivould pticc dic in5trumcnt. Tlic tru5tce bases it assumptions on
observable data as far 2s possible but this is not xlivAys available. In tliat case. management uses die best
information available. Estimaed fair values may vary from the actual prices thAt ivould bc Achieved An an
arm's length trAnsacuon at tl)e reporting date.
Investment income
Restticted
fiinds
2023
Total
fiinds
2023
Listcd invcstmcnts
39.191
39,191
Total 2023
39.191
39,191
RestrLCtcd
funds
2022
Total
£unds
2022
Listed invc5tmcnts
62,071
13
62,071
13
Investment income - other foreign investments
Total 2022
62,084
62,084
Page 11

Desmond Whyte Charitable Trust
Notes to the ffftancial statements
For the year ended 30 June 2023
Analysis of expendlture on charitable activities
Siimmary by fiind type
Resttlcted
fiinds
2021
Total
2023
Disbursements to bcneficiary
Investment expenses
LcgAI ind profession21 Eees
68.430
25,243
3,153
68,430
25,243
3,153
Total 2023
96,826
96,826
Restricted
funds
2022
Total
2022
Disbiusemcots to beneficiary
Investment expenses
Lcgal And profession21 fees
65.995
33,145
738
65.995
33,145
738
Tot212022
99,878
99,878
Indopendent examiner's remuneration
2023
2022
Fees p2}rAblc to the Trnses independent ex2miner for the independent
examination OF the Tmst's annual account5
1,800
600
Resources expended
During die )Fear, no Trustees received an)1 remuneration (2022 - £NIL).
During die }Tear. no Tru5tCe5 rcccivcd An}. bcnefits in kind (2022 _ £NIL).
During die Jiear, no Tntstees received an}T Icimburscment of expenses (2022- £NIL).
As detailed in Note 12. die T￿SteeS Ieceived remuneration for servAces rendered to tlie Ttust An die current
year.
Page 12

Desmond Whyte Charitable Trust
Notes to the fmancial statements
For the year ended 30 June 2023
Fixed asset investments
Listed
investments
Cost or valiiation
At l July 2022
Additions
3,420,739
1,955,698
(1,969,488)
95,216
Disposals
Cliange in market value
At 30 June 2023
3,502,165
Net book value
At 30 June 2023
3,502,165
At 30 June 2022
3,420.739
Creditors: Amounts falling due within one year
2023
2022
Accruals and deferred income
2,400
600
Pag613

Desmond Whyte Charitable Trust
Notes to the fmancial statements
For the year ended 30 June 2023
10. Statement of funds
Statement of funds- current year
Balance at I
Jiily 2022
Gains/ Balance at
Incomc Expendittitc
sscs
) 30J
line 2023
Restricted fiinds
Restricted Funds - all funds
3,463,928
39,191
(96,826)
95,216
3,501,509
Statement of funds - prior year
Balknce at
GAins/
B112nce at
(Losses) 30 June 2022
l Jul), 2021
Income ExPendI￿re
Restricted fiinds
Ilestricted Funds - all ￿ndS
3,758,765
61084
(99.878)
(257,043)
3,463.928
Page14

Desmond Whyte Charitable Trust
Notes to the f￿ancial statements
For the year ended 30 June 2023
11. Analysis of net assets between funds
Analysis of net assets between funds - current year
Restricted
fiiiids
Total
fiinds
2023
2023
Fixed asset investments
3.502.165
1,744
(2,400)
3,502,165
1,744
(2,400)
Current Assets
Creditors due ivithin one year
Total
3,501,509
3,501,509
Analysis of net assets between funds - prior year
Re5tr1Cted
funds
2022
Total
funds
2022
Filed asset inirestments
3,420,739
43.789
(600)
3,420,739
43,789
(600)
Current assets
Creditors duc within one yeai
Total
3.463,928
3,463,928
12.
Related party transactions
During the )Fear to 30 June 2023, leg21 fees of £1,353 (2022.. £1,056) Ivere PAid to Clrnver Fulton Rankin
solicitors. CleaireI FuEton R2nkin Trustees Limited is x sole CO￿Orate trustee OF tlie trust.
Page15