Hanwood Trust Company Limited Company Limlted by Guarantee Trustees. Annual Report (InGorporatJng the Dlrectofs R•port) Yaar ended 31 March 2024 The trust888, who are a180 the dlrnctor8 for the purp¢)888 of company law, pre8ent thelr report and the financlal 8tatement8 of the charity for the year ended 31 March 2024. Page I R•hrenGO and admlnlstratlv• detall8 R•ght•r•d charlty nam• Charfty r•glstratlon number Company rngl•tratlon nUMr N1042978 Prlnclpal offlc• and r•gl•t•rad Hanwd Centr8 Klnross Avenue offl¢o Tullycarnet Belfast Antrim BT5 7GE HanY0d Trujt Company Llmlted 107303 Th• trusts MrHKDFlynn Mr S DouglaB Mr J Whlte Mr P Carland MrBR•a Mr6 C Blreh Mr J 81rch Mr GT Dorrlan (Dled 18 Aprll 2024) (Appolntpd g May 2024) Company u¢r•tary Audltor Mr• C Blrch JohnBkn Graham Llmlted Chartered accountants & 8tatutory audltor 2161218 Holywood Road Belfast 8T4 1PD Strueturn. govemancg and management Govemance of the Charlty The oharity Is controlled by it8 governing document, a de8d of trust, and constltute8 a limlted company, Ilmlted by guarantee, 88 defined by th6 Companle8 Act 2006. Related partl88 Belfast Clty Council is a related party of Hanwood Trust Company Limlted by vlrtue of lease agre&ments which exist botW8en Belf8st Cty Council and tha company on land and premisès at Inross Avenue, Tullycamet. Rlsk management The directors have assessed Ihe major risks to whiGh the Gharity is exposed, in particular those rdated to the operations and finances of thè charity, and are satlsfied that the system8 are in placè to mltigate any exposurè to the maior risks.
Hanwood Trust Company Llmited Company Llmited by Guarantea Trusts88' Annual Report (Incorporating the Dlrectorfs Report) feonllnuedj Year ended 31 March 2024 Objectlveg and adlvkl Page 2 The obJective8 of the company a8 8tat8d In the Memorendum of A88oclatlon are the promotbn for the publlc benefit of rural or urban reg8neratlon and advencernent of Gommunlty development In are88 of economic, physlcal and 80cial deprlvation and in part5¢ular, Tullycarnot by all or any of the followlng m6ana: . The rellef of poverty In 8uch ways a8 may be thought fft Tha rellaf of unemployment in 8uch way8 as may ba thought flt, Includlng a8818tanc• to flnd ampbyment. The advancement of educatlon, tralnlng or rntralnlng, partlculaty among, unomployed peopb and provldlng unemployad p8opl8 wlth work experlance. - Thè prov181on of flnanclal a8818tsnce, tachnical a8818tance or bu8lne88 advlu or con8ultancy In order to provldo tralnlng and employment opportunttlas for unemployed peopl6 In cases of flnanclal or other charlty need through help. (l)In Betfjng up thelr own bu81ne88 (11)to 8xl8tlng bu81n888e8 Th8 creatlon of tralnlng and 8mploym8nt opportunlt1è8 by the prov181on of worf( 8pace, bulldlng8 andlor land for u88 In favourabl8 terms; - The malntanance, Imprment or prov181on of publlc amanltlej; . Th8 advancement of amateur Jport and th8 provl8lon or 89818tsnc8 In the provl8lon of recr8atlonal facllltl88 for tha publlc at large or tho8e who by roason of their youth, age, 111-h6alth or d18abllity, flnanclal hard8hlp or 80clal and economlc clrcumstances, have need of such facllltle5; . The pr880Natlon and protsctlon of health; - The advancemont of communlty d•v•lopment; . The promotlon of r•llgiou8 and racial harmony and 8quallty and dlver81ty and - Sh ethèr mean8 a8 may from tlme to tlme da dotèmlned 8ubJfjct to the prlor wrltten con88nt ol the Chadty Comml88lon for Northar Ir•land. In 8UPPOrt of the80 obJectlvo8, 88ch year the company mak88 In klnd donatlons In 8UPPOrt ol community health initiatives and room hir•. During the year •nded 31 March 2024, the valug of th888 Ghariiable donatlons amounted to £43,000.
Hanwood Trust Company Limited Company Limlted by Guarantee Trustees. Annual Report (Incorporatlng the Dlrectorfs Report) f¢ontlnu Yaar ended 31 March 2024 Achl8v•mants and p6rfornianc• Our La8t AGM w88 held on 28th Jun8 2023. At that meetlng we dlscussed the challenges faced by tha company wtth the rlslng c08ts of fuel, energy, rates and living expense8 and how we needed to be prapared to Spring into actlon with Innovatlvo financial and non financlal Idea8 to a8slst th8 communlty, tenants, and cu8tom8r8. Paga 3 FUNDING Wa contlnue to apply for fundlng but It18 becomlng Incraa8lngty dlfflcult a8 th8 numbor of appll¢ant8 ha8 Increa3ed. Neverthel888 we have been successful In securlng varlous sourceg of fundlng for program dallvery. The Trust does not generate any profit from fundlng packages. However, tha finance provlded 8nable8 us to wn program$ and 88rvlce$ for local p8opI8. A Communty Fund, Introduced by the Board of the Hanwood Trust In the 2023 year, has baen 8ucces8ful in 088I8tlng communlty group8 In the area wlth fundlng If needed, The fund18 managed by the Hanwood Tru8t and 50% of any 8urplu8 made In a tlnanclal yaar (up to £5,000) w511 go back Into the local communlty after applicatlon appral8al and 8ubm183k)n to th• Tru8t from Tulyc8rnot Communlty Collectlvo. PHASE 1 (Maln Bulldlng) and PHASE 3 {Sport8 Pltch and Gym) Th8 football pltch Is oporatlng at full cap8clty wlth the local Tullycamet team Qupy1ng mora slot8 du8 to tholr Incréa80d numb6r8. Th1818 a poslttve development for the local communlty and the chlldren nd odults Involvèd wlth tho lum. Ther& ha8 bean an Increase In fltnags 8ulte memb8r8hip numb8r8 aoaln th18 y•ar wlth ovar 200 membern per month PHASE 2 pho 2 of the Hanwood Buslno8$ Park18 8tlll 100% occupl•d. PHASE 4 Phase 4 Is opearlng 8mootly and tho H8nderson Group run a dSfferent opgratlon than tha 8maller Independent owner3. Tha Hanwood Board member8 and staff work tirel•$sly to •n$ura tha sustainabilty of the Hanwood davalopment, It Ss Incredibl8 to think that a pkce of wasta ground now accomodatos 30 businesses and a sports complex, employlng 176 people. Our most slgnlficant challenge contlnues io be ongolng prrce Increases that affect our tenants and thle customers. As a Board we are prepared to asslst our tenants, Customers and communEty when necessary. My thank8 once agaln to the Community Board and the Staff for their commitment and hard work during what has been a most Challenglng year,
Hanwood Trust Company Limited Company Llmft8d by Guarantee Trustees. Annual Report (Incorporating the Dlrectorfs Report) (¢ontthu8dJ Year ended 31 March 2024 Flnanci41 rnYl•w Page 4 Income lor the year totalled £338,189 Includlng £56,173 re¢elved as grant InGome. Totsl expendltura on charltablo actlvltles was £420.850 gSvlng an ov6rall deficSt of £84.661 for the f&nanclal year. Included wlthln the deficlt18 £97,992 of depreclatlon relatlng to the property whlch ha8 been included In th8 account8 a8 r88trfcted funds. The company Showed a 8urplu8 of £4,021 for the year relatlng to It8 unr88tr1cted fund8. Re8erve8 polky The charity'8 poIiGy18 to retaln 818vel of reserves, whlch m8tche8 tha needs of the organi8atFon both at the ¢urrnnt time and in the fore•able future. The Trustees have detemilned that It would be appropriata for tho Gharlty to hold a mlnlmum unr8Jtdcted resenm equfvalent to 8 months total op8ratlng costs and w511 continua to monitor ¢oMplIan wlth thle pollcy on a rngular bas18 and revlew tho approprfatgn888 Ot tha pollcy annually. TrustMs' responllbllltles atatsnnt The truste98, who are a180 dlrectors for tho purpoJ68 of compary law, are re8ponslbl8 for preparlng the trustees, report and th8 flnanclal statements In accordance wlth appllcable law and Unlted Klngdom A¢countlng 8tandards (Unttod Klngdom Gonerally AccW8d Accountlno Practlc8). Company law r8qulr88 thè charlty tru8t•68 to prépare financial 8tatsm•nts for •ach yoar %thlch glvo true and falr vl8w of th8 State of aff8lr8 of tho charltable company and the Incomlng re8ource8 and appllcatk)n of re8OUlf88, Includlng the Incom8 and 8xpendlturn, for that perfod. In pr•paring the80 financial 8tatements, the tru8tee8 are requlred to.. 88lect 8ultabJe accountlng policb8 and thon apply them c0n81stsnt. ob80rve Ihe m8thod8 and prlnclpl08 In th• appllcable Chadtlo8 SORP; make Judgments and accountlng e8tlmate8 that ara r8a8onabfo and pNdant; prepare the ffnanclal Jtatoments on the golng concem ba818 unlo88 It18 Inapproprlato to presume that the charlty 11 continue In bu81ness. The trustees aro responslble for ke&plng adequate accountlng records that are sufflclent to show and explain the chadty'8 transactlons and d108& wlth reasonable accuracy at any tlme the flnanclal posltlon of the charlty and enable them to en8ur6 that the flnanclal Statsments comply with the Compan188 Act 2006. Th8y are also re8ponslbl8 for safeguardlng the 8888ts of the charity and henca for tsklng reasonablo 8teP8 for the preventEon and detection of fraud and other Irregul8rltle8.
Hanwood Trust Company Limited Company Llmited by Guarantee Trustses. Annual Report (Incorporatlng the DIrecto? Report) fcontthued) Year ended 31 March 2024 Paga 5 Audltor Each of the parsons who Is a trustee at tha date of approval of th18 report Confimis that so far as they are aware, there18 no retevant audlt Infomwtlon of whlch th8 charlty's auclltor Is unaware; and they have taken all Staps that they ought to have taken as 8 tru8t88 to rnaka tham8elve8 aware of any relevant audlt Informatton and lo 08tsbli8h that tha ch8rty'8 auditor 18 awarn of that Informatlon. The audltor18 daem8d to hav8 been r•-appolntsd In accordanG• wtth 8ectlon 487 of the Companle8 Act 2006. 8mall company pn>vl8lon8 Th1$ report has been prepared In accordance wlth the provl8lon8 appllcable to comp8nle8 •ntitl8d to th8 8mall Gompanle8 exemptlon. The tru8taè8' annual report approved on 19 Juno 2024 and slgned on behalf of tha board of tru9tees by. Mr8 C Blrch Charfty Secretary