COMPANY REGISTRATION NUMBER N1639918 GORDON STUART TRUST LIMITED COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS 31 DECEMBER 2022 Charity Number NIC106971 GORDON STUART TRUST LIMITED COMPANY LIMITED BY GUARANTEE Financial statements Year ended 31 December 2022 Contents Page Members of the trust and professional advisers Trustees Annual Report Independent examiners report Statement of financial activities (incorporating the income and expenditure account) Balance sheet Notes to the financial statements GORDON STUART TRUST LIMITED COMPANY LIMITED BY GUARANTEE Page 1 Members of the trust and professional advisers Registered charity name Gordon Stuart Trust Limited Charity number NIC106971 Company registration number N1639918 Princlpal and reglstered offlce 108-114 Moneymore Road Magherafelt County Londonderry BT45 6HJ Trustees Mr D Henry MrlSHenry Ms J A McKeovm Ms H Young Accountants BDO Northern Ireland Chartered Accountants Metro Building, First Floor 6-9 Donegall Square South Belfast BT15JA Page 2 GORDON STUART TRUST LIMITED COMPANY LIMITED BY GUARANTEE Trustees annual report Year ended 31 December 2022 Tlie ti'ustees, who are also directoi's for the pui'p05es of coinpany law, preseiit their I'eport aiid tlie riiiaiioial statements olthe cliarity for the yeai. ended 31 Deceinbei. 2022. Referenee And admRnTStrative details Registei'ed Office.. 108-114 Moiieyinoi'e Road, ma￿le1￿fell, County Loiidondei'ry B T45 6HJ Coinpany Registi-ation No: N1639918 Northern Ki'eland Charity Coinmission No: NIC106971 The ti'ustees The ti'iistees who served the charity during the period were as follows: Mr D Henry Mr I S 14eiii'y Ms J A Mclceown Ms H Youiig Governing Docuinent The oiganisatioii is a cliaritabl¢ company liinited by guarantee, incoiporated on l August 2016, and as sucli tlie liability of eacli of its members is limited. Th¢ company is goveriied by ils board of dii'ectors who opet'ate as delailed in the govei'ning docuineiit for the cliai'ity, which is Ilie Meinoi'anduin aiid Ai'liclcs of Association. In the event of tlie company being woui)d up Ineinbers al'e IEqLliI'ed to conti'ibiite ali amount not exceeding £ I, Organisation The chai'ity is maiiaged by the Board of Dtrectoi's who Inay exercise all tlie powers of the Ti'ust. Objectives and activities Piirpo.ies The tl'LlSt is established for cliaritabl¢ pui'poses only, specifically tlie relief of poverly, tlie advanceinent of education, the advancement of I'eligion, the advanceineiit of healtli or Ilie saving of lives, tli¢ advancement of citizenship or commuiiity developineiit, tli¢ advanceinenl of tlie ai'ls, culti1￿, hei'itage or science, the advancement of ainateur sport, and the relief of Ihose in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage. Aclivllies & Beiieficiai'ies The oi'ganisation receives funds from donors which are tlien passed oli to existing chai'ities and non-govei'i)mental organisations W0￿]ng in the aiEa of healtl), education, I'eligion aiid cominunily development in response to specific rcqiiests received for funds for projects. Al I tl)e pi'ojects funded arc personally selected by tl)e ti-Iistee5 and have a proven track recoixl iii their field of ¢xpeitise so that we can be siii'e that the moiiies go to tlie intended benefLciaries. Acliievemeiils Diiriiig the year vaiious charities have received donations froin tlie organisation. These donations have been in linc witli the Purposes, Activiti¢s and Beneficiaiies &s set out abov¢ aiid Iiave ultimately helped inany individual ben¢fLcTaries. Page 3 GORDON STUART TRUST LIMITED COMPANY LIMITED BY GUARANTEE Trustees annual report (conllnuedj Year ended 31 December 2022 ri iiianeial i'evieiv Tlie detailed i'esiilts foi. tlie pei'iod, aiid the coinpany's fiiiancial positioii at Ilie pei'iod eiid are shown in Ilie altaelied fiJ)aiicial statements. The total um'esti'icted incoming resources for the pei'iod aniounted to £350,000 (2021: £350,000), with expenditui'e of £274,332 (2021: £195.204). resultiiig in iiet iiicoiniiig resoui'ces for ihe yeai. of £75,668 (2021 . £154,797)- Thei'e were unresti'icted funds of £591.145 (2021: £515,476) at the yeai. end. The iiicoining r¢soui-ces of the cliarity in tlie year relate to donations r¢c¢ived, Reserves Pollcy The ti'iislees feel tliat as tlie amoiiiit of administrative expenditure is miiiimal, tlie coinpany does iiot iieed to hold sigiiificant amounts in resei'ves. At pitsei)t tlierc are posilive fir¢ resciwes of £591,145 (2021: £515,476). These liave ai'isen due to the tiining of income and expeiidituiE up to tlie year end dat¢. Stateinent of Coinpliance lil establishing the objeclives and planning of distribution of graiils for the year, the triistees have given cai-eful considei'ation to the Cliai'ity Coinmission fo). Noi'il)ern litland's giiidance (section 4b of tlie Charities Act) on public beiiefit to enslire tliat the activities have helped to achieve tlie tsust's piii'poses aiid pi'ovides a benefit lo beneficiai'ies. Ti'ustees, respoD8ibili(ies statement The triistees al'e responsible for preparing the Trustees Annual Report aiid the financial 5tateinents in accoi'dance witli applicable law and regiilatioiis. Coinpany law requiits tl)e li'Lislees to pi'epare financial stateinents foi. each financial yeai,. Uiider tliat law tlie li'LlStees have elected to pi'epar¢ tlie financial stateinents in accoi'dance with United Kingdom Generally Accepted Accountiiig Piactice (United Kingdom Accouiiting Staiidai'ds aiid applicable law). Under company law the trustees must nol approvc the financial slateiiients iinless they al'e satisfied tliat tliey give a true and fair view of the state of affairs of the chai'ity and the incoine and expendittire of the chai'ity for that period. In pi'epai'ing these financial statements, the trustees are reqiiired to: select SLlltable accouiitiiig policies and then apply them consisteA)tly' observe the methods and principles in the Charities SORP. mak¢ jiidgements and accoiinting estiinates that ale reasoiiable and prudent. and prepai'e the finaiicial statements on the going concei'n basis untess it is inappropi'iate to pitsuine that the charity will coiitiniie in opei'ation. The trustees are responsible for kccping adequate accountiiig records that are sufficient to show aiid explain the charity's transactions and disclose witli rcasonable acciii'acy at any time tlie financial position of the charity and enable thein to ensure that the financial statem¢iits comply with the Companies Act 2006. They are also respoiisible for safeguai'ding the assets of the charity and heiice for taking reasonable sÈ¢ps for the piEvention aiid detection of ftxud and other iri¢giilarities, Page 4 GORDON STUART TRUST LIMITED COMPANY LIMITED BY GUARANTEE Trustees annual report (contlnuedj Year ended 31 December 2022 Sniall company exemptions This irport lias bcen pirpared in accordance with the pi'ovisioiis applicable to compani¢s eiititled to tlie sii)all coinpanies exeinption. Registeitd office: 108-114 Moneymore Road Maghei'afelt Coiinty Loiidoiideriy BT'45 6HJ Signed on behalf of tlie trustees O ijew> Mi. D Heniy Charity Trustee 19 Junc 2023 Page 5 GORDON STUART TRUST LIMITED COMPANY LIMITED BY GUARANTEE Independent examiners report to the charity trustees of Gordon Stuart Trust Limited Year ended 31 December 2022 We i'epoi't on tlie accoiints of the con)pany foi. the year ended 31 December 2022, which are set out 011 pages 7 to 12. Respective responsibilities of charity Irustees and cxainincr As the ¢l)aTity triistees (and also tlie directors of th¢ company foi. the purposes of company law) yoii al'e responsible foi. the pi'eparation of the accoLints in accoi'dance witli ihe i'eqiiiremenls of tlie Coinpaiiies Act 2006. Having satisfied ourselv¢s that th¢ charity is iiot subject to audit iiiider coinpany law, and is cligible foi. independent examination, it is our responsibilily to: exainine the accounts under section 65 of the Charities Act follow tlie procediires laid down in the general Diirctions given by the Cliarity Coininission foI' Nortliei'n Ireland under section 65(9)(b) of the Cliarities Act state wliether particular matters have come to our attention. Basis of independeiit examlner's repoi"I We have examined your charity accounts as iEquired under section 65 of the Chai'ities Act and oui. exainination was carried out in accoi'dance with the geiieral DiiEcti011s given by the Chai'ity Coininission foi. Noitherii Ireland linder section 65(9)(b) of tlie Cliarities Act. Tlie examinatioii included a review of the accoiinting records kept by ilie charity and a conipai'ison of tlie accounts presented witl) those records. It also included considei'atioii of any iinusual iteins oi. disclosiires in Ihe accoLints, and seeking explaiiations from you as chai'ity Iriistees concerning aiiy such inatters. Oiii. role is to state whether any material matters have come to my attenlion giviiig m¢ cause to believe: l. That accountiiig record5 were not kept in accordancc witli section 386 of the Companies Act 2006 2. That the accounts do not accord with those accounting records 3. That the accoiints do not coinply with tl)e accoiinting requirement5 of seclion 396 of tl)e Compaiiies Act 2006 and wilh the nietliods and pi'inciples of the Chai'ities Staleineiil of Recoininended Practice applicable to chai'ities preparing their accounts iii accordaiice with the Financial Reporting Staiidard applicable in the UK and Republic of Ireland 4. That there is fuither infom)ation needed for a proper iinderstanding of the accounts to be reached. Page 6 GORDON STUART TRUST LIMITED COMPANY LIMITED BY GUARANTEE Independent examiners report to the charity trustees of Gordon Stuart Trust Limited (continued) Year ended 31 December 2022 liidependeiit examinei s $tatenient We have eomplcted our exaniination and hav¢ no concerns in respect of the inatters (l ) to (4) Itsted above and, ii) coiinection with followiiig the Diiections of tlie Cliai'ity Coininissioii for Noi'ihei'n li'cland, we have foiind no niatters that I'equii'e drawiiig to your alteiitioii. Metro BLiilding, FiiBt floor 6-9 Donegall Sqiiai'e South Belfast BTI 5JA BDO Noitlierii Iirland Cliai'lered Accountants 19 June 2023 Page 7 GORDON STUART TRUST LIMITED COMPANY LIMITED BY GUARANTEE statement of financial activities (incorporating the income and expenditure account) Year ended 31 December 2022 Restricted Uni'cstricted Total Funds Total FLinds Fuiids nds 2022 2021 Notè Incoming resoiirces liicoming resoiii-ces from genei'ating fiiiids: Vollllltai'y iiicome Total incoming i'esourees Resource.5 expended Costs of generatitjg funds: liivestment inaiiagement costs Chai'itable activities Governaiice costs 350,000 350,000 350,000 350,000 350,000 350,000 273,500 832 273,500 832 194,090 1,114 TotAI resources expended 274,332 274,332 195,204 Net ineonie for tlie year Recoiiciliiltion of fiinds Tolal funds broiight forward Total fund.8 carried fonYY4rd 75,Ci68 75,668 154.796 515,476 515,476 360,680 591,145 591,145 515.476 The Stateinent of Financial Activilies incliides all gains and10sses in tlie y¢ai', All of tlic above amounts relate to contiiiuing activilies. The notes on pages 9 to 12 form part of these financial statements. GORDON STUART TRUST LIMITED COMPANY LIMITED BY GUARANTEE Page 8 Balance sheet 31 December 2022 2022 2021 Note Cui'i'ent assets Cash at baiik and in liat)d 591,145 515,476 Creditors: Amounts falling diie iYAlhiii one yefji" Net current Assets 591,145 515,476 Total Assets less cui'rent liabiliti 591,145 515,476 Net assets 591,145 515,476 Fundy Uni'esti'icted incoine fiinds TotAI funds 591,145 515,476 The diir¢tors are satl5fied thal Ihe chai'ity is enlitled to exeinplion froin the pi'ovisions of the Coinpanies ACÈ 2006 (tlie Act) relating to the audit of tlie finaiicial staleinenls foi. the yeai. by vii'tue of section 477(2), and tliat no ineinber or Ineinbei's l)ave iequesled ali aLidit pui'suant to section 476(1) of the Act. The Irustccs acknowledge theii. responsibilities for: (i) eiisiii'iiig that the charity keeps adequate accounting recoi'ds wliicli comply with sectioii 386 of the Act, and (ii) prepai'ing fiiiarncial statements which give a ti-ue ai)d fair view of tl)e state of affairs of tlie chai'ity as at the end of the financial year and of its profit or105s for tlic financial yeai. in accol￿ance willi the I'equii'emenls of section 393, and which otlierwise comply with the requiiEinents of tli¢ Act iylating to finaiiLial statements. so fai. as applicable to the Lharity. These fiiiancial statements have been prepared in accordance with the special provisions foi. small companies iindel. Pait 15 of the Companies Act 2006. These fin8ncial statements weiE approved by the trustees oi) 19 Jiine 2023 and al'e signed on their belialf by.. Mr D I-leni'y ch￿'llY Ti-ustee Company Registi'ation Numbei.: N1639918 The notes on pages 9 to 12 form part of these flnanclal $tsloment8. Page 9 GORDON STUART TRUST LIMITED COMPANY LIMITED BY GUARANTEE Notes to the financial statements Year ended 31 December 2022 Geiieral infoi'mition The charitable company is a private coinpany liinited by giiai'antee witlioiit sl)ai'e capital, i'egistei'ed in Noitherii Ireland. The address of ilie IEgistei'ed office is 108-114 Moiieyiiiore Road, Maglierafelt, County Londond¢rry BT45 6HJ. The principal activity of the entity during tlie yeai. was a trusl established foi. cliai'itable pui'poses, aiid in pai'ticular to pi'oinote religioi), advance educatioii, pi'oinote Ilie relief of povei'ty and pi'ovide facilities in the interesls of social welfare. Statenient of complianee These fiiiaiicial statemeiits have been pr¢pared in accordance wilh Accouiiting and Repoi'liiig by Charities.. Stateinent of Recommended Practice applicable to chai'ilies preparing tlieii. accoLints iii accoi'daiice witli the financial Rcpoitiiig Slandard applicable li) the UIC and Repiiblic of Ireland (FRS 102), The Fiiiaiicial Repoiting Standai'd applic