COMPANY REGISTRATION NUMBER: NI654945
CHARITY REGISTRATION NUMBER: 107183
David Paul Cross Foundation Limited Company Limited by Guarantee Unaudited Financial Statements 31 August 2023
MANEELY Mc CANN CHARTERED ACCOUNTANTS
Chartered Accountants Aisling House 50 Stranmillis Embankment Belfast BT9 5FL
David Paul Cross Foundation Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | 7 |
| Statement of cash flows | 8 |
| Notes to the financial statements | 9 |
David Paul Cross Foundation Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2023.
Reference and administrative details
Registered charity name
David Paul Cross Foundation Limited
Charity registration number 107183 Company registration number NI654945 Principal office and registered Aisling House office 50 Stranmillis Embankment Belfast BT9 5FL
The trustees
Rev Dr Gary Donegan Rev Stanley Gamble Rev William Shaw Independent examiner Cathal Maneely Aisling House 50 Stranmillis Embankment Belfast BT9 5FL
Structure, governance and management
David Paul Cross Foundation Limited was registered as an incorporated charity with the Northern Ireland Charity Commission on 13th March 2020 operating under Memorandum and Articles of Association dated 10 August 2018. New trustees can be appointed at any time by a resolution of a meeting of the trustees.
1
David Paul Cross Foundation Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
Objectives and activities
The David Paul Cross Foundation confines itself to making exclusively charitable donations through:
the award of bursaries and grants to community projects, third party charitable organisations and individuals which are directly tackling issues that are causing political conflict, promote youth education, and reconciliation and resilience in Northern Ireland; and
the award of grants and donations to third party charities and research bodies in Northern Ireland which are directly concerned with raising awareness of the early identification, treatment and prevention of skin cancer for the general public.
By providing financial support the objective is that the Foundation can help the local area to cope as well as to adapt to stresses and strains such as long-term demographic change, slow economic growth and poor access to housing or infrastructure, and subsequently ensure more areas of public life are interconnected. Also, the goal is to help prevent skin cancer through primary and secondary prevention. Skin cancers and precursors to skin cancer are relatively easy to treat if detected early enough. Through helping teach people what they should look for, raising awareness through public campaigns; and providing information on primary and secondary prevention, the hope is that the financial burden on our healthcare systems will be relieved and ultimately lives will be saved.
The David Paul Cross Foundation also aims to mentor and advance community groups and charities which directly tackle issues that are causing political conflict; actively working towards an equitable and peaceful society while promoting the sustainable development of urban and rural communities. These benefits will be demonstrated through ongoing monitoring and evaluation of work being carried out.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
The charity generates funds from donations.
Financial review
These Charity accounts has been prepared on a going concern basis, notwithstanding the fact the charity had net current liabilities of £4,800 at the balance sheet date.
The directors are confident that future funding will be secured and that the charity will continue to be financially sustainable.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
2
David Paul Cross Foundation Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
The trustees' annual report and the strategic report were approved on 21 May 2024 and signed on behalf of the board of trustees by:
Rev Stanley Gamble Trustee
3
David Paul Cross Foundation Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of David Paul Cross Foundation Limited
Year ended 31 August 2023
I report to the trustees on my examination of the financial statements of David Paul Cross Foundation Limited ('the charity') for the year ended 31 August 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the ‘2008 Act’) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
4
David Paul Cross Foundation Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of David Paul Cross Foundation Limited (continued)
Year ended 31 August 2023
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Cathal Maneely Independent Examiner
Aisling House 50 Stranmillis Embankment Belfast BT9 5FL
21 May 2024
5
David Paul Cross Foundation Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2023
| 2023 | 2023 | 2022 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 24,900 | 24,900 | – |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ||
| Total income | 24,900 | 24,900 | – | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | 24,900 | 24,900 | – |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ||
| Total expenditure | 24,900 | 24,900 | – | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | (4,800) | (4,800) | (4,800) | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| Total funds carried forward | (4,800) | (4,800) | (4,800) | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 13 form part of these financial statements.
6
David Paul Cross Foundation Limited
Company Limited by Guarantee
Statement of Financial Position
31 August 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Creditors: amounts falling due within one year | 11 | 4,800 | 4,800 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| Net current liabilities | 4,800 | 4,800 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| Total assets less current liabilities | (4,800) | (4,800) | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| Net liabilities | (4,800) | (4,800) | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| Funds of the charity | |||
| Unrestricted funds | (4,800) | (4,800) | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| Total charity funds | 12 | (4,800) ৶৶৶৶৶৶৶ |
(4,800) ৶৶৶৶৶৶৶ |
For the year ending 31 August 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 21 May 2024, and are signed on behalf of the board by:
Rev Stanley Gamble Trustee
The notes on pages 9 to 13 form part of these financial statements.
7
David Paul Cross Foundation Limited
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 August 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Net decrease in cash and cash equivalents | – | – |
| Cash and cash equivalents at beginning of year | – | – |
| ৄৄৄৄ | ৄৄৄৄ | |
| Cash and cash equivalents at end of year | – ৶৶৶৶ |
– ৶৶৶৶ |
The notes on pages 9 to 13 form part of these financial statements.
8
David Paul Cross Foundation Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Aisling House, 50 Stranmillis Embankment, Belfast, BT9 5FL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
9
David Paul Cross Foundation Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
10
David Paul Cross Foundation Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Financial instruments (continued)
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The Charity is a private company limited by guarantee without share capital. The liability of each member in the event of winding-up is limited to £1.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 24,900 | 24,900 | – | – |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ |
11
David Paul Cross Foundation Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
6. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Awarding grants | 22,500 | 22,500 | – | – |
| Support costs | 2,400 | 2,400 | – | – |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄ | |
| 24,900 | 24,900 | – | – | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ |
7. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly Support costs | 2023 | 2022 | ||
| £ | £ | £ | £ | |
| Awarding grants | 22,500 | – | 22,500 | – |
| Governance costs | – | 2,400 | 2,400 | – |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | |
| 22,500 | 2,400 | 24,900 | – | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | |
| Independent examination fees | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 2,400 ৶৶৶৶৶৶৶ |
2,400 ৶৶৶৶৶৶৶ |
8. Independent examination fees
9. Staff costs
The average employee head count of employees during the period was Nil.
Therefore, there were no employees who received employee benefits of more than £60,000 during the period.
10. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
11. Creditors: amounts falling due within one year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 4,800 | 4,800 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
12
David Paul Cross Foundation Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
12. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 | September | 31 August 20 | |||
| 2022 | Income | Expenditure | 23 | ||
| £ | £ | £ | £ | ||
| General funds | (4,800) | 24,900 | (24,900) | (4,800) | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| At | At | ||||
| 1 | September | 31 August 20 | |||
| 2021 | Income | Expenditure | 22 | ||
| £ | £ | £ | £ | ||
| General funds | (4,800) | – | – | (4,800) | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 13. | Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2023 | ||||
| £ | £ | ||||
| Creditors less than 1 year | (4,800) | (4,800) | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2022 | ||||
| £ | £ | ||||
| Creditors less than 1 year | (4,800) | (4,800) | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||||
| 14. | Analysis of changes in net debt | ||||
| At | |||||
| At 1 Sep 2022 | Cash flows | 31 Aug 2023 | |||
| £ | £ | £ |
13