Charity No: NIC 105831 HOlell Trust A¢¢ounts for the year ended 31 March 2025
Holywell Trusl Contents Page Legal and Administrative Inforniation Report of The Management Committee Independent Examiners port Statement of Financial Activities Balance sheet Notes to the accounts 7-13
Holywell Trust Legal and Administrative Information Charity Name Holywell Trust Charity Number NIC 105831 Operational Address 10112 Bishop Street Derry BT48 6PW Trustees of Holywell Trust Danny Bryce - Chairperson Georgia O'Kane Judith Brady A¢¢ounlanls McGroarty Mccafferty & Company Ltd Accountants and Tax Consultants 2 Carlisle Terrace Dery, BT48 6JX Bankers AIB (NI) Meadowbank Derry BT48 7TN Page I
Holywell Trust Report of The Management Committee The Management Committee present their report and the financial stalements for the year ended 31 March 2025. Prineipal activity and objeelives The Trust is established to advance education and to promote the benefil of the inhabitants of the DerrylLondonderry city and urban area and its environs of the North Wesi of Northern Ireland (hereinafter called the "area of benefit") without distinciion of age, gender, disability, sexual orientation. nationality, ethnic identity, political or religious opinion, by associating the statutory authorities, community and voluntary organisalions and the inhabitants in a common effort to advance education, and to provide facilities in the intcrests of social welfare for recreation or other leisure-time occupation, with the object of improving thc condilions of life for the said inhabilants and in particular: a) to maintain and manage or co-operate with any local authority in the maintenance of a centre or centres in the area of benefit for activities promoied by the Trust (hereinafter called "the Centre"); b) to advance education concerning and carry out research into local history by collecting and recording inforniation, in particular forniing an archive of the works of the area of benefil. c) to raise awareness and provide education among the community about environmentsl issues and conduct programtnes lo protect the environment. d) the re¢ruitment, selection and sending out of volunteers for short terni service within the area of benefit. Management Committee The members of the charity for the purposes of charity law and throughout this port are Collectively referred to as the trustees. The members serving during the year and since ihe year end were as follows: Danny Bryce Georgia O'Kane Judith Brady Chairperson Rfisk ManAgement The members have assessed the major risks to which the association is exposed, in particular those related 10 the operations and finances of the association, and are satisfied that systems are in place to mitigate the exposure to the major risks. Financial review The financial perforniance is summarised in ihe encloscd accounts. Plans for Future Periods The associalion plans to continue the activities as Outlined above in the forthcoming years subject to satisfaclory funding arrangements. Holyivell Trust Page 2
Report of The Management Committee Members Responsibililies In Relation To The FIDancial Statements The members are reponsible for preparing the annual reFK)rt and the financial slatements in accordance wilh the applicable law and United Kingdom Generally Accepted Accounting Practice. The law applicable to charities in North¢rn Ireland requies ihe members to prepare financial statements that give a true and fair view ofihe stat¢ of affairs of the charity at the end of the financial year and of its surplus or deficit in the financial year. In doing so the membets are required to: select suilable accounting policies and apply them consistenily" make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The members are Tesponsible for mainlaining proper accounting COrdS which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008. The members are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularilies. A resolution will be proposed ai the Annual General Meeting that McGroaty Mccafferty & Company Ltd be re-appointed as accountants for the charity for the ensuing year. By Order of the Management Committee: Committee Member Date: 25 February 2026 Page 3
Holywell Trust Independent Examiner's report to the eharfty Committee members of Holywell Trnst We report on the accounts of the charity for the year ended 31 March 2025. which are set out on pages 5 -13. Respective responsfibilities of charfty committee members and ¢XYdminer As the charity's members you are responsible for the preparation of the accounts in accordance wilh the Charities Act (Northern Ireland) 2008. It is our responsibility to: examine the accounts under Section 65 of the Charities Act; follow the procedures laid down in th¢ general Directions given by the Commission under Section 65(9) (b) of the Charities Act: state whether panicular matters have come to our attention. Basls of Independent examiner's report We have exarnined your charity accounts &s required under Section 65 of the Charities Act and our exaininaiion was carried out in accordance with the general Directions given by the Charity Commission for Northem Ireland under Section 65 (9)(b) of the Charities Act. Our examinaiion included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included considerations of any unusual items or disclosures in the accounls, and seeking explanation from you as charity members concerning any such matters. Our role is lo stale whether any material matters have come to our attention giving us cause to believe: l . That accounting records were not kept in accordance with Section 63 of the Charities Act. 2. That the accounts do not accord with those accounting re¢ords. 3. That the accounts do not comply with ihe a¢counting requirements of the Charities Act. 4. That there is further information needed for a proper understanding of the ac¢ounts to be reached. Independent Examlner's Statement The charity's gross income exceeded £250,000 in the year under review. therefore your examiner must me a member of a listed body. We can confirm we are qualified to undertake the examonation we are re8islered as members of Chartered Accountanls Ireland which is one of the listed bodies. We have compleied our examination and have no concerns in respect of the matters 1 4 listed abovc and, in connection with the following Directions of the Charity Commission Northern Ireland. we have found no matters that require drawing to your attention. MeGroarty Mc Cafferty & Company Lld Accountants and Tax Consullants 2 Carllsle Terrace Derry Ireland BT48 6JX Dale: 25 February 2026 Page 4
Holywell Trnst Statement of Financial Aetlvfitks for the year ended 31 Mareh 2025 Unrestrl¢tsd Funds Reslrlcted Funds 2025 2024 Income and Expenditure Ineoming Resources Grants Received & Other Income 184,985 245,980 430,965 457.685 Total Incomfing Resources 184,985 245,980 430,965 457,685 Resources Expended Management & Administration 183,022 307,049 490,071 488,110 Tolal Resources Expended 183,022 307,049 490,071 488.110 Nel Incoming l (Outgoing) Re50ur¢es 1,963 (61,069) {59,106) (30,425) Balances brought forward l April 2024 68,692 966,471 1,035,163 1,065,588 Balance5 carried forward 31 March 2025 70,655 905,402 976,057 1,035,163 The above amounls relate to continuing operations of the group. The organisation has no rQgnised gains and losses oiher than those included in the results above and therefore no separate siatement of total recognised gains and losses has been presented. There is no difference between the net incoming resources for the year stated above and their historical cosl equivalents. Page 5
Holywell Trusl Balance sheet as a¢ 31 March 2025 2025 2024 Notes Fixed assets Tangible assets 966,799 987,770 Current as$eis Debtors Cash at bank and in hand 40,572 31,772 44,546 86,531 72,344 131,077 Current liabilities Accruals and deferred income 63,086 83,684 Net ¢urrenl assels 9.258 47,393 Total assels less ¢urrenl Ilobilities 976,057 ,035,163 CAPltal account Restricted funds Unreslricled funds 905,402 70,655 966,471 68,692 976,057 .035.163 l approve these accounts and confirni that I have made available all relevant records and information for their preparalion. Trustee Date: 25 February 2026 Trustee Date: 25 February 2026 Page 6
Holywell Trust Notes to the accounls for the year ended 31 March 2025 General finformation The Charity is a regisl¢red charity with the Charity Commission NI. The address of the registered oifice is 10112 Bishop Street, Derry, BT48 6PW. 1.1. Aecounting convention The principal accounting policies adopted in the preparation of the financial statements are set out below. The Charity constitutes a public benefit entity as defined by FRS 102. The financial slatements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland Charities SORP 2019 (fRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act (Northern Ireland) 2008. The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presenied in sterling which is the functional ¢urrency of the Charity. 1.2. Fund aceountlng Unrestricted funds are available for use at the discretion of the members in furtherance of ihe general objectives of the charity. Designated funds are unresticted funds eam)arked by the management committee for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the tenns of appeal. 1.3. Infomlng resourees All incoming resources are included in the statement of financial activities when the charity is entitled to th¢ income and ihe amount can be quantified with reasonable accuracy, The following specific pol icies are appl led to particular categories of income: Voluntary income 15 received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quanlified. The value of services provided by volunteers has not been included. Gifts donated for resale are in¢lud¢d as incoming resources within activities for generating funds when they ar¢ sold. 1.4. Resources expended Expenditure is recognised on an a¢¢rual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relatcs. Charitable expenditure comprises those costs incurred by the charity in th¢ delivery of ils activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary lo support them. Page 7
Hotywell Trust Notes to the accounts for the year ended 31 Mar¢h 2025 l.S. Pension Costs Conlributions to auto enrolment pension schemes are recognised as an expense in the period in which the related service is provided. 1.6. Cash at bank Cash at bank and cash equivalents are stated at cost at ihe financial year end. 1.7. Debtors & credltors tkbtors and credilors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairnient are re¢ognised in expenditure. 1.8. Tangible fixed assets and depreciation Tangible fixed assels are stated at cost less depreciation. Depreciation is provided al rales calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows: Land and buildings Fixlures, fittings and equipment 20/0 Straight Line IOO/o Straighi Line 1.9. Going concern The financial statements have been prepared on a going concern basis as ihe truslees believe that no material uneertainties exist. The trustees have considered ihe level of funds held and the expected level of income and expenditu for 12 months from authorising these financial ststemenls. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able io continue as a going concern. Page 8
Holywell Trust Notes to the ac¢ounts for the year ended 31 March 2025 Income Year Ended 2025 Year Ended 2024 R strieted Income Rank Foundation Comrnunity Relations Council tkrry City & Strabane District Council National Lottery - Sedum Roof Nalional Lottery Community Fund - Domiant Accounts Department of Foreign Affairs (Note 13) Northern Ireland Office Management l Adminislralion & Facilitation Income Inner City Trust Executive Office Peace Plus Fermana8h Trust Ireland Fund Co-Op¢ralion Ireland 34,404 81,737 3,000 8,133 19,017 58,700 25,596 71,578 4,000 72,195 38,155 2,063 3.500 27,101 583 5,406 20,000 15,000 40,892 22,328 3,435 245,980 310,843 Unrestrl ed Income Rental Income & Service Charges Managementladminislralion & Facilitation Income Othcr income 170,561 14,344 80 132,575 12,415 1,852 184,985 146,842 Tolal In¢ome 430,965 457.685 (i) Restrieled Funds Funds received which are earmarked by the Funder for specific purposes. Such purposes are within the overall aims of the organisation. (li) Unrestrlcted Funds Funds which are expendable at the discretion of ihe company in furtherance ofihe aims of the charity. In addition funds may be held in order to finance capital investment and working capital. Page 9
Holywell Trnst Notes to the ae¢ounls for the year ended 31 March 2025 Resources Expended Year Ended Total 2025 Year Ended Tolal 2024 Unrestrleted Funds Restr5eted Funds Managen)ent & Administrntion Wages & salaries Junction CRC enlitlement Pension costs Projecl costs R¢nl, rales & water Insurance Light & heat Cleaning & consumables Repairs & mainentenance Poslage, stationery & advertising Tclephone, fax & internet Motor & travel expenses Accountancy Bank charges Sundry expenses Professional fees Subscriptions Depre¢iaiion 64,123 168,450 40,760 8,789 41,552 22,080 232,573 40,760 8,789 41,552 30,547 6.882 36,429 3.570 17,118 6,467 28,745 10,661 2,100 678 1,532 243,378 35,684 9,910 20,791 32,984 6,774 28.827 4.235 34.809 3,540 25,977 10,295 2,100 676 3,742 240 195 23,953 8,467 6,882 36,429 3,570 17,118 6,462 26,167 10.661 1,350 351 1,442 2,578 750 327 90 697 20,971 697 20,971 183.022 307.049 490,071 488,110 Net (outgoingylncomlng resources for Ihe year Year Ended 2025 Year Ended 2024 Net (outgoing)/incoming resources is stated after charging: Depreciation and other amounts written off tangible fixed assels A¢¢ountancy fees 20,971 2,100 23,953 2,100 Page 10
Holywell Trusl Notes to the aceounts for Ihe year ended 31 Mareb 2025 Staff note The average number of persons employed by the company during the year amounted to 7 (2024 - 7). The aggregate payroll ¢osts incurred during the year were: 2025 2024 Wages and salaries Pension contributions 232,573 8,789 243,378 9,910 241,362 253,288 No employees received emolumnets of more than £60.000 (2024: None). The trustees neither received nor waived any emolumenis during the year (2024: None). Taxatlon Holywell Trust is exempt from t&x as it has charitable slatus. Tangible assets Land and buildings freehold Equipment Tolal Cost At l April 2024 1,000,000 337.832 1,337,832 At 31 March 2025 1,000,000 337,832 1,337,832 Deprec5atlon At l April 2024 Charge for the year 20,000 20,000 330,062 971 350,062 20,971 At 31 March 2025 40,000 331,033 371,033 Net book values At 31 March 2025 960,000 6,799 966,799 Al 31 March 2024 980,000 7.770 987,770 An external valuation was carried oul on the company's freehold property by EOC Estate Agents. EOC Eslate Agents is a local valuer and has experience of the local property market. The company's property was valued at £1,000,000 at 31 st March 2023. Page 11
Hotywell Trusl Notes lo the Aceounts for the year ended 31 March 2025 Debtors 2025 2024 Grants Due Other debtors 25.406 15,166 30,800 13.746 40,572 44,546 Creditors: Amounls falling due within one year 2025 2024 Accruals Deferred income 3,545 59,541 8.392 75.292 63,086 83,684 Movements In Funds At At l Aprll Incoming Outgoing 31 Mar¢h 2024 resources resources 2025 Reslrieted funds: Total restricted funds Unrestrleted funds: Total unrestricted funds 966,471 245,980 (307,049) 905,402 68,692 184,985 (183,022) 70,655 Total funds ,035,163 430,965 (490,071) 976.057 Purposes of Restrlf ted Funds Restricied granis awarded to the charity is provided to cover the core objects as explained in directors report. 10. Cash and Crdsh Equfivalenls 2025 2024 Cash at bank and in hand 31,772 86,531 11. Controlling interest Ultimate control of the charity lies with the trustees. Page 12
Holywell Trust Notes lo the accounts for the year ended 31 Manh 2025 12. Relaled Party Transactions There were no related paty transactions in period under review. 13. Department of Foreign Affairs 2025 Reconcffilsa ion Fund Opening deferred Received in year Closing deferred 23,558 (19,472) 4,086 Forward To elher Opening deferred Received in year Closing deferred 8,438 52.751 (6,575) 54.614 58,700 14. Post Balance Sheet Events No significant events have taken plac¢ since the year end thai would result in adjustments to 2025 financial information or inclusion of a note thereto. Page 13