The St Anne Trust Company Limited by Guarantea Statement of Financial Activities (including income and expenditure account) Year ended 30 September 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Nots Income and endowments Donations and legacies Total Incom• 6,466 7,000 7,000 13,466 13,466 6,586 6,466 6,586 Expenditure Expenditure on raising funds: Investment management costs Expenditure on charitable activities Total oxpenditure 80 7,714 80 13,111 13,191 137 10.646 10.783 5,397 5,397 7,794 Net Incomel{expenditurn) and net movement In funds (1,328) 1,603 275 {4,197) Reconcillatlon of funds Total funds brought forward Total funds carried forward 22.825 22,825 23,100 27,022 21,497 1.603 22,825 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 financial ststements. The St Anne Trust Company Limitsd by Guarantee Statement of Financial Position 30 September 2024 2024 2023 Nots Current assets Debtors Cash at bank and in hand 13 2,500 21,700 24,200 149 23,866 24,015 Credltors: amounts falllng due wlthin one year Net current assets 14 1,100 1,190 22,825 22,825 23,100 23,100 23,100 Total a88ets 188$ curront Ilabllltle8 Net a8s0ts 22,825 Funds of the charlty Restricted funds Unrestricted funds 1,603 21,497 23,100 22.825 22,825 Total charfty funds 15 For the year ending 30 September 2024 the charity was entitled to exemption from audrt 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 wrth 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 10 February 2025, and are signed on behalf of the board by: Mr S Mccoll Trustee The notes on pages 8 to 14 form part of these financial statements. The St Anne Trust Company Limitsd by Guarantee Notes to the Financial Statements Year ended 30 September 2024 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 clo Belfast Cathedral, Donegall Street, Belfast, BT1 2HB. Statement of compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and 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. Accountlng pollcles Bas1$ of preparatlon 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 funcb'onal currency of the entity. Going concern The￿ are no material uncertainties about the charity's abilty to continue. Judgements and key Sources of 08timatlon uncertalnty 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 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 deCla￿d by the donor or through the terms of an appeal, and fall into one of l)NO sub-classes: restricted income funds or endowment funds. The St Anne Trust Company Limitsd by Guarant88 Notes to the Financial Statements (Continued) Year ended 30 September 2024 Accountlng 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 transacts'on 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 falr 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 rf 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, non-charitable trading activities, and the sale of donated goods. expenditure on charitsble 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 governan￿ 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 activty 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 recognised only when the charity becomes a party to the contractual provisions of the instrument. The St Anne Trust Company Limited by Guarantee Notes to the Financial Statements (contlnuod) Year ended 30 September 2024 Accounting policies fcontlnued) Financlal 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. Iillhere investments in shares are publicly traded or their fair value can otheNise 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 activits'es 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 eX￿ed5 what the carrying amount would have been had the impairment not previously been recognised. Llmited by guarantee 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 Guarantee Notes to the Financial Statements (contlnued) Year ended 30 September 2024 Donatlons and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donations Donations Funding Other Income 6,466 6.466 7,000 7,000 6,466 7,000 13,466 Unrestricted Funds Restricted Total Funds Funds 2023 Donations Donations Funding Other Income 3,569 3,569 2,999 18 2,999 18 3,587 2,999 6,586 Investment management C08ts Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Bank charges 80 80 137 137 Expenditure on charltable actlvities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Charitable activities Support costs 6.620 1.094 7,714 5,397 12,017 1,094 13.111 5,397 Unrestricted Funds Restricted Totsl Funds Funds 2023 Charitable activities Support costs 2,282 480 7,884 10,166 480 2,762 7,884 10,646 11 The St Anne Trust Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 30 September 2024 Expendituro on charitable actlvlties by activlty type Activities undertaken directly Support costs Total funds 2024 Totsl fund 2023 Charitable activities Governance costs 12,017 12,017 1,094 13,111 10,166 480 1,094 1,094 12,017 10,646 Analy818 of Support costs Legal and Independent professional examination fees fee Total 2024 Totsl 2023 Governance costs 236 858 1,094 480 10. Independent examlnatlon fees 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 858 480 11. Stsff costs There a￿ no staff employed by the charity. Accordingly, there are no employees who received employment benefits in excess of £60,000. 12. Trustee remuneratlon and 8xpenses No ￿muneratIon or other benefits from employment with the charlty or a related entity were received by the trustees. No trustee expenses have been Incurred. 13. Debtors 2024 2023 Prepayments and accrued income 2,500 149 12- The St Anne Trust Company Limited by Guarantee Notes to the Financial Statements (contlnuodj Year ended 30 September 2024 14. Creditors: amounts falling due within one year 2024 2023 Accruals and deferred income 1,100 1,190 15. Analysis of charitable funds Unrestricted funds At 30 September 2024 At 1 October 2023 Income Expenditure General funds 22,825 6,466 (7,794) 21,497 At 30 September 2023 At 1 October 2022 Income Expenditure General funds 22.137 3,587 <2,899) 22,825 Restrlcted funds At 30 September 2024 At 1 October 2023 Income Expenditure Arts Council Nl Belfast City Council Col Priorities Grant Col Orphans and Childrens Grant 2,500 4,500 (2,500) (2,897} (5,397) 1,603 1,603 7,000 At 30 September 2023 At 1 October 2022 Income Expendtture Arts Council Nl Belfast City Council Col Priorities Grant Col Orphans and Childrens Grant 3,800 1,085 99 2,900 {3,899) (3,985) 4,885 2,999 (7,884) 13- The St Anne Trust Company Limited by Guarantee Notes to the Financial Statsmants fcontlnuod) Year ended 30 September 2024 16. Analysls of net assets between funds Unrestricted Funds Restricted Totsl Funds Funds 2024 Current assets Creditors less than 1 year Not assets 22,597 (1,100) 21,497 1,603 24.200 (1,100) 23,100 1,603 Unrestricted Funds Restricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net as88ts 24,015 (1,190) 22,825 24,015 (1,190) 22,825 17. Related partle8 Donations totalling £Nil (2023 £250) were received by the charity from trustees. No conditions were attached to the donations. 14-