ids. thartered accountonts Charity No. NIC106730 (Northern Ireland) THE LORD BANNSIDE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 IDS Chartered Accountants LLP Chartered Accountants 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG ids. THE LORD BANNSIDE FOUNDATION chartered accountonts CONTENTS Page Legal and adrninistrative information Trustees, report Independent examiner's report ststement of financial activities Balance sheet Notes to the financial statements ids. THE LORD BANNSIDE FOUNDATION cIKrtered occountants LEGAL AND ADMINISTRATIVE INFORMATION Trustees M5 R E K Paisley Mrs S K Huddleston Mr l R K Paisley Mrs C J K Caldwell Rev K Pai51ey Charity number 106730 Registered office 17 CyprusAvenue BELFAST BT5 5NT Independent examlner IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG Solicitors Hewitt and Gilpin 14- 16 James Street South BELFAST BT2 7GA ids. THE LORD BANNSIDE FOUNDATION chartered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 110 the financial statements and comply with the charity's governing document, the Charities Act 2008 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 20191" Objectives and actlvlties The charity's objective is to encourage those who have an interest in or already are involved in a life of Christian service and those who have an interest in public service as these were the two aspects of Lord Bannside's life. It seeks to assist those who are students of the political history of our province and whose studies in particular take in the life of Lord Bannside. The Foundation was established as a living memorial to the life of Rl Hon Lord Bannside PC. 11 holds in trust his Library which is mainly a Theological collection of books, and it is inclusive of other artefacls, and personal papers kindly loaned by the family. It is housed in Bannside Library and is a reading library and not a lending library which is open to the public. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance Our focus has been on the following.. 1. Archiving 2. Recording Archive 3. Vi51tors Archlvlng We are around the half-way mark with our work on the personal notebooks, diary notes and sermon notebooks. Inihile these are being catalogued we are still uncertain as to the best way to archive these and to what extent we will be able to have them available for use. Some are quite fragile. Recording archive. This is now completed in full and the catalogue should be ready by the autumn of 2025. Vlsltors We continue to meet both groups and individuals who request visits to the Bannside Library, home of the Foundation's collection, by appointment. We are pleased to be able to provide the infomalion and materials they seek. Vvhere we can provide additional and ongoing help we do so. Flnanclal revlew 11 is the policy of tho charity that unrestricted funds which have not been designated for a specific use should be maintained al a level equivalent to between three and six month's expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding. they will be able lo continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. For 2024, the ratio of expenses to reserves is 1=3. As a result, the trustees are satisfied that the level of reserves is sufficient to fund the Charity's activilies for the foreseeable future. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place lo mitigate exposure to the major risks. ids. THE LORD BANNSIDE FOUNDATION chartered occountonts TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Future plans We are eager lo see completed the various aspects of our cataloguing work and proceed to production of the full catalogue which will be available online. Currently only our book collection and leaflets collections are available. We also wish lo proceed with the necessary preseNing of items such as the reel lo reel recordings. Vlfith the passing of time these become more fragile. Due lo unforeseen circumstances our public facing events have had to be limited which has had a knock on effect on our fundraising and we are keen lo be able to increase these again as soon as possible. Structurei governance and management The trustees who served during the year and up to the date of signature of the financial slatements were.. Ms R E K Paisley Mrs S K Huddleston Mr l R K Paisley Mrs C J K Caldwell Rev K Paisley The trustees, report was approved by the Board of Trustees. RhoftdA PaiEIF! Ilu1ar JO, 2Q25 16.0 MT*il Cfrerit4 CBldwèll lmai 31, 2025 08.'26 GMT*LI Mrs C J K Caldwell Trustee Daled.'26 March 2025 Ms R E K Paisley Trustee Dated.. 2S March 2025 ids. THE LORD BANNSIDE FOUNDATION chirtered accountants INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LORD BANNSIDE FOUNDATION I report to the trustees on my examination of the financial statements of The Lord Bannside Foundalion {the charity) for the year ended 31 December 2024. Responslbllltles and basis of report As the charity trustees you are responsible for the preparation of the accounls in accordan￿ wth the requirements of the Charities Acl (Northern Ireland) 2008. It is my responsibility lo.. examine the accounts under section 65 of the Charities Act {Northern Ireland) 2008, follow the procedures laid down in the general Direcllons given by the Charity Commission for Northem Ireland under section 6519)Ib) of the Charities Act., and stale whether particular matters have come to my attention. Basls ol Independent examinerfs report. I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9llb) of the Charities Act. Independent examiner's statement My examination included a review of the accounting re¢ords kept by the charity and a comparison of the accounts presenled with thos8 records. 11 also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come lo my attention giving me cause to believe.. accounting records were not kept in respect of the charity as required by section 64 of the 2008 Act,. or the financial statement5 do not accord Mrith those records. or the financial statements do not comply with the applicable requirements concerning the form and content of financial statemènts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial slatements give a true and fair view, which is nol a matter considered as part of an independent examination. I have completed my examination and have no concerns in respect of the matters (11 to (41 listed above and, in connection with following the Directions of the Charity Commission for Northem Ireland. I have found no matters that requlr drawing to your attention. Alison Walla￿, FCA IICAII IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG Dated. 26 March 2025 ids. THE LORD BANNSIDE FOUNDATION chartered accountants STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Unrestricted funds 2023 Notes Income from: Charitable activities 580 410 Total income 580 410 Expendlture on: Charitable activities 5.229 4,440 Totsl expenditure 5,229 4,440 Net expenditure and movement in funds 14,649) (4,0301 Reconciliation of funds: Fund balances al 1 January 2024 12,472 16,502 Fund balances at 31 December 2024 7,823 12.472 The slatemenl of financial aclivili&s includes all gains and10sses recognised in th8 year. All income and expenditure derive from conts'nuing activities. ids. THE LORD BANNSIDE FOUNDATION Chartered accountants BALANCE SHEET AS A T 31 DECEMBER 2024 2024 2023 Notes Current assets Cash at bank and in hand 7,823 12,472 Net current assets 7,823 12,472 The funds of the Gharity Unrestricted funds 7,823 12,472 7,823 12,472 The financial statements were approved by the trustees on 26 March 2025 R4oqd- Pa slp.5' IM3r 30,2025 16.0 Ms R E K Paisley Trustee JT+ll Chp'111I Caldwroll jNlar 31, 2025 08.-26 GMI T+LI Mrs C J K Caldwell Trustee ids. THE LORD BANNSIDE FOUNDATION chartered accountonts NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies Charity informatSon The Lord Bannside Foundation is an unincorporated charity. The registered office is 102 North Road, Belfast, BT4 3DJ. 1.1 Accounting Gonventlon The financial statements have been prepared in accordance wth the Charities Act 2008 and 'A¢counting 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 (FRS 102) leffeclive 1 January 2019)" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not lo prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations bul which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 1.2 Golng concern At the time of approving the financial stalemenls, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt Ihe going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unreslricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out In the notes to the financial statemenls. Endowment funds are subject to specific Gondition5 by donors that the capital musl be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been mel. the amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations re￿iVed under Gift Aid or deeds of covenant is recognised at the time of the donation. 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other ghort-lerm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing5 in current liabilities. ids. THE LORD BANNSIDE FOUNDATION chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Contlnuedl Basic financial assets Basic financjal assets, which include deblors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cosl using Ihe effective interest method unless the arrangement constitutes a financing Iransaclion, where the transaction is measured al the present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilitie5, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Critical accounting estimates and Judgements In tho application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these Èstimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future p6riods where the revision affects both current and future periods. Income from charitable activities Unrestrlctsd funds 2024 Unrestricted funds 2023 Publlcatlons Donations 580 410 Charitable actlvlties Charitable Charitable Expenditure Expenditure 2024 2023 Insurance Bank fees 3,325 31 3,149 31 3,356 3,180 Share af govemance costs (see note 51 1,873 1,260 5,229 4,440 ids. THE LORD BANNSIDE FOUNDATION chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Governance costs allocated to actlvitles 2024 2023 Govemance costs 1,873 1,260 Analysed between: Accountancy 1,873 1,260 Trustees None of thè trustees {or any persons ¢onne¢ted with them) received any remuneration during the year. Taxatlon The charity is exempt from taxation on ils activities because all ils income is applied for charilable purposes. Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they May be used. These includè designated funds which have been set aside out of unrestricted fvnds by the trustees for specific purposes. At 1 January 2024 Incomlng Resources resources expended At31 December 2024 General funds 12,472 580 15,229) 7,823 Previou5 year: At 1 January 2023 Incomlng resources Resources expended At31 December 2023 General funds 16,502 410 {4,440} 12,472 Related party transactions Transactions with related parties During the year the charity did not enter into any transactions with related parties.