Sports Academy George Trust Registration Number 106867 (Northem Ireland) Charity number: 106867 Unaudited Annual Financial Statements for the year ended 31 December 2024 Sports Academy George Trust (Regislralion Number 106867) Annual Financial Statements for the year ended 31 De￿mber 2024 Contents Page Charity Information Independent Examinerfs Rep(Mt Slatemenl of Finanaal Acliwties Balan￿ Sheet Statement of Changes in Equty Statement of Cash Flows Notes to the Annual Financial Stalements 8-10 Sports Academy George Trust (Regislralion Number 106867) Annual Financial Statements for the year ended 31 De￿mber 2024 Charity Information Country of Incorporalion and Domicile Northem Ireland Registralion Number 106867 Registralion Date 18 December 2017 Nature of Business and Principal Aclivities The charity enables the advan￿rnent of educalion and amateur sports in developing countries. Trustees Stephen David Mckenzie Rachel Laura Craig Trevor Scott Adam Miller Craig Jordan Gamble Garelh Bronte Ruth Mcafee Caroline Struwig Registered Office 46 Carricknaveagh Road Lisbum BT27 Bankers Danske Bank 2024 10 Name: William Wilson Signed: Relevant Body: Chartered Accountants Ireland Address: 2 Haddo Lane, Belfast, NI, BT8 8FU Date: Sports Academy George Trust (Regislralion Number 106867) Annual Financial Statements for the year ended 31 De￿mber 2024 Statement of Financial Activities Unrestricted Funds 2024 2023 Total Funds 2024 2023 Figures in £ Income and endowments from: Donations and legacies Charitable aclivities Other income Total income and endowments 241082 18 797 228 087 23 774 48 436 300 297 241082 18797 228 087 23 774 48 436 300 297 259 879 259 879 Expenditure on: Charitable activities NC 10 kilomelre run fundraising expenses George Royal Academy donations Total expenditure on charitable activities 13 1291 (196 5251 (199 654) (9 5701 (160 ffi01 (169 6301 (3 1291 {196 5251 (199 6541 {9 570) 1160 060} {169 6301 Other expenses {772111 {73 4091 (772111 173 409) Total expenditure (276 865) (243 039) (276 8651 {243 0391 Net (expenditure) I Income 116 986) 57 258 116 986) 57 258 Net movement in funds {16 9861 57 258 {16 9861 57 258 Sports Academy George Trust (Registration Number 106867) Annual Financial Statements for the year ended 31 De￿mber 2024 Balance Sheet Unrestricted Funds 2024 2023 Total Funds 2024 2023 Figures in £ Notes Current assets Cash at bank and in hand Net current assets 47 292 47 292 64 276 64 276 47 292 47 292 64 276 64 276 Total assets less current liabilities 47 292 64 276 47 292 64 276 Net assets 47 292 64 276 47 292 64 276 Capilal and reserves Endowment funds Unrestricted income funds Shareholders. funds 47 292 47 292 64 276 64 276 47 292 47 292 64 276 64 276 These accounts have been prepared in accordance with the provisions applicable to cx)mpanies subject to the small companies, regime. These annual accounts and reports have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the profit and loss account has been tsken. For the year ended 31 December 2024. the chanty was entrtled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The member has not required the company to obtain an audit of its accounts for the year ended 31 December 2024 in accordance with section 476 of the Charities Act {Northern Irelandl, 2008. The trustees acknowledge their responsibilities for ensuring that the company keeps accounling records which comply with Sections 386 and 387 of the Charities Act (Northem Ireland), 2008 and the Companies Act 2006. the Memorandum and Artides of Association and" The Iruslees acknowledge Iheir responsibililies forpreparing annual financial statemenls which give a true and fair view of the state of affairs of the charity as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which othe￿1$e comply with the requirements of the Charilies Act {Northem Ireland). 21J)8 relating to financial statements. so far a5 applicable lo the charity. These financial statements have been prepared in accnrdance with the provisions applicable to cnmpanies subject to the small companies, regime. The annual financial statements were approved and authorised for issue by the Board of Trustees on 19 June 2025. Signed on behalf of the Board of Trustees Trevor Scott Chaimian 19 June 2025 The notes on pages 8 to 10 fomi part of these accounts. Charity registration number.. 106867 Sports Academy George Trust (Regislralion Number 106867) Annual Financial Statements for the year ended 31 De￿mber 2024 Statement of Changes in Equity Unrestricled fund Figures in £ Total Balance at 1 January 2023 7018 7018 Changes in equity Surplus for the year Total comprehensive income Balance at 31 December 2023 57 258 57 258 64 276 57 258 57 258 64 276 Balance at 01 January 2024 64 276 64 276 Changes in equity Deficit for the year Total comprehensive income Balance at 31 December 2024 (16 9861 (16 9861 47 290 116 986) 116 986) 47 290 Sports Academy George Trust (Registration Number 106867) Annual Financial Statements for the year ended 31 December 2024 Statement of Cash Flows Figures in £ Notes 2024 2023 Cash flows from operations Net cash flows lused in) I from operations (16 984) 57 258 Net (decrease) l increase in cash and cash equivalents Cash and cash equivalents at beginning of the year Cash and cash equivalents at end of the year (16 984) 64 276 47 292 57 258 7018 64 276 Cash and cash equivalents consists of: Cash at bank and on hand 47 292 64 276 Sports Academy George Trust (Regislralion Number 106867) Annual Financial Statements for the year ended 31 De￿mber 2024 Notes to the Annual Financial Statements Figures in £ 2024 2023 1. Summary of significant accounting policies 1.1 General informalion and basis of preparation Sports Academy George Tnjst is a charity incorporated in the Northem Ireland. The address of the registered office and iegistralion number is given in Ihe (x)mpany information on page 2 of these annual financial slatemenls. The charity enables the advancement of education and amateur sw)rts in developiro countries. These annual financial slalements have been prepared in accordan￿ with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to chanties preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, the Charities Act (Northem Ireland). 2008 and the the Companies Act 2006. the Memorandum and Articles of Association. The annual financial statements are prepared in sterling {£) thich is the functional cU￿encY of the charity and rounded lo the nearest £. The significant accounkn'ng policies applied in the preparation of these annual financial statements are set out ￿lOw. These poliaes have been consistently applied lo all years presented unless otherwise stated. 1.2 Cash at bank and in hand The notes to the accounts must explain how the charity has defined any short-temi. highly liquid investments induded as cash at bank and in hand. 1.3 Financial instruments Related party transactions Reloled party transactions of a similar nature are aggregated unless. in the opinion of the directors, separate disclosure is ne￿sSary to understand Ihe effecl of the transactions on the financial slatements. Ultirnate controlling party In the opinion of the directors. Swrts Academy George Trust does not have a single ultimate controlling paty. 1.4Tax The charity is exempt from corporation tax on its charitable activities. Sports Academy George Trust (Regislralion Number 106867) Annual Financial Statements for the year ended 31 De￿mber 2024 Notes to the Annual Financial Statements Figures in £ 2024 2023 Summory of signifjcont accounting policies continued... 1.5 Turnover and other income Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recc¥Jnition of tumover are as follows: Fund accounting Unrestricted funds can be used in accordan￿ wf(h the charitable objeclives at the discretion of the trustees. Restricted funds can only be used for particular reslricted purposes within the objectives of the tharrty. Restrictions arise when specified by the donor or when funds are raised for a particular restricted purpose. Interest receivable Interest income is recognised using the 8ffeclive interest meth(xl and dNid8nd income is recLyJnised as the charilvs right to re￿1ve payment is established. Donations received All income is recognised once the charity has enttllement to the incnme, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations are recognised when the Trust has been notified in writing of both the amount and settlement date. In the evenl that a donalion is subject to conditions Ihat require a level of PerfO￿nanCe before the charity is enlilled to the funds. the income is deferred and not recognised until either those conditions are fully met. or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those (￿ndItionS will be fulfilled in the reporting period. L8gacy gifts ar8 r8cognised a (%se by case basis following the granting of probate when the administralorlexecutor for the estate has communicated in writing the amount for distribution after taking into consideration of any liabilities and settlement date and. if there are any conditions attached lo the legacy, these are either within the control of the charity or have been met. In the event thal the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognttion is subject to the value of the gift being reliabty Measurab￿ with a degree of sufficient accuracy and the title to the asset having been transferred to the charity. 2. Analysis of charitsble funds Unrestricted fund Total Balance at 1 January 2023 7018 7018 Income and endowments Expenses Balance at 31 December 2023 300 297 {243 0391 64 276 300 297 {243 0391 64 276 Balance at 01 January 2024 64 276 64 276 Income and endowments Expenses Balance at 31 December 2024 259 879 {276 8651 47 290 259 879 {276 8651 47 290 Sports Academy George Trust (Regislralion Number 106867) Annual Financial Statements for the year ended 31 De￿mber 2024 Notes to the Annual Financial Statements Figures in £ 2024 2023 Aftulysis of charitoblefvnds continued... 2.2 Fund reconciliations Unrestricted funds Balance at 31 December 2023 64 276 Balance at 01 Income and January 2023 endowments 7018 300 297 Expenses {243 0391 Unrestricted Balance at 31 Decernber 2024 47 290 Balance at 01 Income and January 2024 endowments 64 276 259 879 Expenses (276 8651 Unrestricted 3. Reconciliation of profit to cash flow from operating activities Deficit l (surplus) for the year Adjustments for: Operating deficit l (surplus) Net cash flows lused inl I from operations (16 984) 57 258 (16 9841 (16 984) 57 258 57 258 4. Related party transactions 4.1 Other related parties Entity name SD Mckenzie RL Craig T Scott AM Craig J Gambl8 G Bronte R Mcafee c struwig A Scott Nature of relationship Truslee Trustee Trustee Trustee Trustee Trustee Ttustee Trustee Family member of trustee 4.2 Infonnation about related party transactions and outstanding balances is outlined below: Donations made Other related parties At 31 December 2023 At 31 December 2024 20 725 15 158 5. Approval of Annual Financial Statements The trustees approved these financial statements for issue on 19 June 2025. io