The St Anne Trust Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 September 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Note Income and endowments Donations and legacies Total incomo 3,587 2,999 2,999 6,586 6,586 9,205 3,587 9,205 Expenditure Expenditure on raising funds- Investment management costs Expenditure on charitable activities Totsl oxpendituro 137 2,762 137 10,646 10,783 49 2,356 2,405 7,884 7,884 2,899 Net (expendlture}Ilncomo and net movoment in funds 688 (4,885) (4,197) 6,800 RKonclliation of funds Total funds brought fomard Total fund8 carried forward 22,137 4,885 27,022 20,222 22,825 22,825 27,022 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 8 to 14 form part of these flnancial statsments. The St Anne Trust Company Limitsd by Guarantee ststemant of Financial Position 30 September 2023 2023 2022 Note Current assets Debtors Cash at bank and in hand 13 149 23,866 24,015 27,502 27,502 Credltors: amounts falllng due wlthin one year Net current a880ts 14 1,190 480 22,825 27,022 27,022 Total assets 1088 current liabllltlos 22,825 22,825 N•t assets 27,022 Funds of the charity Restricted funds Unrestricted funds 4,885 22,137 27,022 22,825 22,825 Total charlty funds 15 For the year ending 30 September 2023 the charity was ents'tled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not ￿qUired the company to obtain an audit of its financial statements for the year in question in accordance with section 476. The directors acknowledge their responsibilitles 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 14 February 2024, and are signed on behalf of the board by: )q"/o MrA Boyd Trustee Dr V McKinley Trustee The notes on pages 8 to 14 forni part of these financlal ststements. The St Anne Trust Company Limited by Guarantee Notes to the Financial Statements Year ended 30 September 2023 General informatlon 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 Glenlyon Manor, Apt 9, 116 Church Road, Holywood, BT18 9BX. Statement of compliance These financial statements have been prepared in cornpliance with FRS 102, 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 1021) and the Companies Act 2006. Accountlng policles Ba81s of prnparatlon 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. Golng concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of 08timatlon uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and jud9ements 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 accountlng 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. The St Anne Trust Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 30 Septsmber 2023 Accounting policies (contlnued) 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 classifjed under headings of the ststement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated good5. 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 d1￿CtlY to that activity. Shared costs are apportioned be￿een the activities they contribute to on a reasonable, justifiable and consistent basis. Flnancial Instruments A financial asset or a financial liability is ￿cOgniSed only when the charity becomes a paty to the contractual provisions of the instrument. The St Anne Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2023 Accounting policies (contlnued) Financ5al instruments (contlnued) 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. INhere investments in shares are publicly traded or their fair value can othe￿iSe 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 fi'nancial activities in which the initial galn 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 credlt 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. Limited by guaranteo The liability of each member is limited to £10, being the amount that each member undertakes to contribute to the assets of the Charity in the event of it being wound up while he or she is a member or within one year after he or she ceases to be a member. 10- The St Anne Trust Company Limited by Guarantse Notes to the Financial Stateménts (contlnugdj Year ended 30 September 2023 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Donations Funding other Income 3,569 3,589 2,999 18 2,999 18 3,587 2,999 6,586 Unrestricted Funds Restricted Total Funds Funds 2022 Donatlon8 Donations Funding Other Income 4,350 4,350 4,845 10 4,845 10 4,360 4,845 9,205 Invostment management costs Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank charges 137 137 49 49 Expendlture on charltablo actlvltlos by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Charitable activities Support costs 2,282 480 7,884 10,166 480 2,762 7,884 10.646 Unrestricted Funds Restricted Total Funds Funds 2022 Charitable activities Support costs 1.716 480 160 1,876 480 2,196 160 2,356 11 The St Anne Trust Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 30 September 2023 Expenditure on charltable activities by activty type Activities undertaken directly Support costs Total funds 2023 Total fund 2022 Charitable activities Governance costs 10,166 10,166 480 1,876 480 480 10,166 480 10.646 2,356 Analysls of support costs Independent examination fee Total 2023 Total 2022 Governance costs 480 480 480 10. Indopendent examlnation fees 2023 2022 Fees payable to the independent examiner for: Independent examination of the financial ststements 480 480 11. Stsff costs There are no staff employed by the charlty. Accordingly, there are no employees who received employment benefits in excess of £60,000. 12. Trustoe remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. No trustee expenses have been incurred. 13. Debtors 2023 2022 Prepayments and accrued income 149 12- The St Anne Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2023 14. Creditors: amounts falllng due withln one year 2023 2022 Accruals and deferred income 1,190 480 15. Analy818 of charltable funds Unrestrlcted funds At Income Expenditure 30 Sept 2023 At 1 Oct 2022 General funds 22,137 3,587 (2,8991 22,825 At Income Expenditure 30 Sept 2022 At 1 Oct 2021 General funds 20,022 4,360 (2,245) 22,137 Restrlcted funds At Income Expenditure 30 Sept 2023 At 1 Oct 2022 Arts Council Nl Belfast City Council 3,800 1,085 99 2,900 (3,899) (3,985) (7,884) 4,885 2,999 At Income Expenditure 30 Sept 2022 At 1 Oct 2021 Arts Council Nl Belfast City Council 200 3,600 1,245 4,845 3,800 1,085 4,885 {160) (160) 200 13- The St Anne Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2023 16. Analysls of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net a88ets 24,015 (1,190) 22,825 24,015 (1,190) 22,825 Unrestricted Funds Restricted Total Funds Funds 2022 Current assets Creditors less than l year Not a8S0t8 22,617 (480) 22,137 4,885 27,502 (480) 27,022 4,885 17. Related partlos Donations totalling £250 (2022 - £500) were received by the charity from trustees. No conditions were attached to the donations. 14-