MCCREA WARMSAVE CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
TRUSTEES' REPORT
The trustees present their annual report together with the financial statements for the period to 31 October 2023.
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees have elected to prepare the financial statements in accordance with UK GAAP and confirm that they must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the charity's affairs and of the surplus or deficit for that period. The reporting framework that has been applied is the Charities SORP (FRS 102 (January 2015)). The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure the financial statements comply with the relevant legislation. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
AIMS AND OBJECTIVES
The charity's objects/purposes are to
-
- advance the education of the public relating to energy efficiency and renewable resources by
-
(a) environmental preservation and conservation focusing on renewable energy and energy saving measures;
-
(b) research and development relating to energy conservation and renewable energy.
-
- to promote sustainable development for the benefit of the public by
-
(a) the preservation, conservation and the protection of the environment and the prudent use of resources;
-
(b) the relief of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities by provision of advice, training and support for the unemployed to advance employment opportunities;
-
(c) the promotion of sustainable means of achieving economic growth and regeneration.
-
- to advance the education of the public in subjects relating to sustainable development and the protection, enhancement and rehabilitation of the environment and to promote study and research in such subjects provided that the useful results of such study are disseminated to the public at large.
POWERS
The charity has the power to do anything which is calculated to further its objects or is conducive or incidental to doing so in particular, the charity has power
Page 3
MCCREA WARMSAVE CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
TRUSTEES' REPORT
(continued)
POWERS (contd)
-
to raise funds. In doing so the charity must not undertake any substantial permanent taxable trading activity and must comply with any relevant statutory regulations;
-
to buy, take on lease or in exchange, hire or otherwise acquire property and to maintain and equip it for use;
-
to sell, lease or otherwise dispose of all or any part of the property belonging to the charity. In exercising this power, the trustees must comply as appropriate with any provisions of the Charities Act (Northern Ireland) 2008 for the time being in force;
-
to borrow money and to charge the whole or any part of the property belonging to the charity as security for the repayment of the money borrowed. In exercising this power the trustees must comply as appropriate with any provisions of the Charities Act (Northern Ireland) 2008 for the time being in force, if it wishes to mortgage land;
-
to co-operate with other charities, voluntary bodies and statutory authorities and to exchange information and advice with them;
-
to establish or support any charitable trusts, associations or institutions formed for any of the charitable purposes included in the purpoases;
-
to acquire, merge with or to enter into any partnership or joint venture arrangement with any other charity formed for any of the purposes;
-
to set aside income as a reserve against future expenditure but only in accordance with a written policy about reserves;
-
to employ and remunerate such staff as are necessary for carrying out the work of the charity. The charity may employ or remunerate a director only to the extent it is permitted to do so by clause 28 and provided it complies with the conditions in that article;
-
to - deposit or invest funds
-
employ a professional fund-manager and
-
arrange for the investments or other property of the charity to be held in the name of a nominee;
in the same manner and subject to the same conditions as the trustees of a trust are permitted to do by the Trustee Act (Northern Ireland) 2001;
-
to provide indemnity insurance for the directors in accordance with, and subject to the conditions in the Charities Act (Northern Ireland) 2008;
-
to pay out of the funds of the charity the costs of forming and registering as a charity;
Nothing in this deed restricts or excludes the exercise of the trustees of the powers given by the Trustee Act (Northern Ireland) 1958 or the Trustee Act (Northern Ireland) 2001 as regards investment, the acquisition or disposal of land and the employment of agents, nominees and custodians.
Page 4
MCCREA WARMSAVE CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
TRUSTEES' REPORT
(continued)
POWERS (contd)
In addition to their statutory powers the trustees may delegate any of their powers or functions to a committee of two or more trustees. A committee must act in accordance with any directions given by the trustees. It must report its decisions and activities fully and promptly to the trustees. It must not incur expenditure on behalf of the charity except in accordance with a budget previously agreed by the trustees.
The trustees must exercise their powers jointly at properly convened meetings except where they have
-
delegated the exercise of the powers (either under this provision or under any statutory provision) or
-
made some other arrangements, by regulations under clause 22 of the trust deed
The trustees must consider from time to time whether the powers or functions which they have delegated should continue to be delegated.
APPLICATION OF INCOME AND PROPERTY
The property of the charity must be applied for purposes in accordance with section 2 of the Charities Act (Northern Ireland) 2008.
APPOINTMENT OF TRUSTEES
There must be at least five trustees. Apart from the first trustees, every trustee must be appointed by a resolution of the trustees passed at a special meeting called under clause 15 of the trust deed.
In selecting individuals for appointment as trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.
The trustees must keep a record of the name and address and the dates of appointment, re-appointment and retirement of each trustee.
The trustees shall enter into a deed of appointment and/or retirement as appropriate as soon as practicable following the passing of the resolution at the special meeting referred to above.
The trustees must make available to each new trustee, on his or her first appointment
-
a copy of the trust deed and any amendments made to it;
-
a copy of the charity's latest report and statement of accounts;
-
a copy of the charity's minutes covering the previous year's meetings;
The trustees may not directly or indirectly alter the rights or obligations attached to a class of membership.
No one must be appointed as a trustee if he or she is under 18 years or if he or she would at once be disqualified from office under the provisions of the termination clause below. No one will be entitled to act as trustee whether on appointment or on any re-appointment until he or she has expressly acknowledged in whatever way the trustees decide, his or her acceptance of the office of trustee of the charity.
TERMINATION OF TRUSTEESHIP
Trusteeship is terminated if he or she
- is disqualified from acting as a trustee by virtue of section 86 of the Charities Act (Northern Ireland) 2008 or any statutory re-enactment or modification of that provision;
Page 5
MCCREA WARMSAVE CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
TRUSTEES' REPORT
(continued)
TERMINATION OF MEMBERSHIP (contd)
-
in the written opinion, given to the trustees, of a registered medical practitioner treating that person, has become physically or mentally incapable of acting as a charity trustee and may remain so for more than three months;
-
is absent without the permission of the trustees from all their meetings held within a period of six monthsand the trustees resolve thst his or her office be vacated or
-
notifies to the trustees a wish to resign (but only if enough trustees will remain in office, when the notice of resignation takes effect, to form a quorum for meetings).
VOTING
At meetings, decisions must be made by a majority of the trustees present and voting on the question. The person chairing the meeting has a casting vote whether or not he or she has voted previously on the same question but no trustee in any other circumstances must have more than one vote.
CHAIRING OF MEETINGS
The trustees at their first ordinary meeting of each year must elect one of their number to chair their meetings. If that person is not present within ten minutes after the time appointed for holding a meeting or if no one has been elected, or if the person elected has ceased ot me a trustee, the trustees present must choose one of their number to chair the meeting. He or she must have no other functions or powers except those conferred by the trust deed or delegated by the trustees.
QUORUM
No business must be conducted unless at least the greater of one third of the total number of trustees or two trustees are present througout the meeting - there may be differing quorums for different business.
PUBLIC BENEFIT
-
a) The benefits which flow from this purpose include increased knowledge, awareness and understanding of the public about the protection of the environment. b) The benefits which flow from this purpose include improvement in the quality of the environment leading to enhanced health and quality of life for the public.
-
a) The benefits which flow from this purpose include promotion of economic growth, social cohesion and employment opportunities. b) The benefits which flow from this purpose include the protection of the landscape and better farming methods to ensure resources are put to best use, promotion of new skills and increased confidence of the unemployed to enable them to seek job opportunities; c) The benefits which flow from this purpose include promotion of the quality of life of those communities overseas.
-
The benefits which flow from this purpose include increased knowledge and awareness about sustainable development and protection and rehabilitation for the environment improving the future of society. Benefits are evidenced through feedback from beneficiaries, stakeholders and funders. This purpose does not give rise to any harm. The beneficiaries of this purpose are people living in Northern Ireland, Namibia and elsewhere overseas. The benefits will be demonstrated by evidence through feedback from beneficiaries, stakeholders and funders, the public in Northern Ireland, Namibia and overseas. A private benefit to trustees may arise from attending conferences and site visits as trustees gain skills and experience which are transferable to other settings. These skills are incidental and necessary to ensure the benefit is provided to the beneficiaries
RESULTS
The Net Incoming Resources for the year amounted to -£2,319
Page 6
MCCREA WARMSAVE CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
TRUSTEES' REPORT
(continued)
FINANCIAL REVIEW AND RESERVES POLICY
Reserves at 31 October 2023 were £4,574 all of which are readily available funds which are retained towards future activities and costs. Currently core costs are funded by the surplus of income raised over the direct costs. Expenditure is planned to provide services to support the company's objectives therefore most expense is directly for the charitable purposes. General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements if identified as such. Restricted funds are funds which are to be used in accordance with specific restrictions imposd by donors or which have been raised by the charity for particular purposes. The cost of raising and administrating such funds are charged against the specific fund.
FUTURE PLANS
The charity's current funding and cost structure is yet to be fully established however it intends to make such plans in the very near future so that the its services can commence being offered where needed. There are current plans to fund significant well drilling in West Africa.
RELATED PARTIES
Two of the charity's trustees are currently the main donors. All donations are made at arm's length.
IMPACT OF COVID-19
The impact of coronavirus restrictions has been minimal. There has been no material impact on the charity's sustainability due to the low overhead model and healthy reserves. The trustees are satisfied that the charity can continue to endeavour to achieve its objectives.
GOING CONCERN
The trustees, having considered the charity's income streams, financial means and strategy for dealing with issues such as the impact of Covid-19, over the next 12-18 months, are satisified that the going concern basis is appropriate.
Page 7
MCCREA WARMSAVE CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
TRUSTEES' REPORT
(continued)
AUDIT EXEMPTION
In accordance with the provisions of the Charities Act (Northern Ireland) 2008 the charity is exempt from the statutory audit requirement.
TAX STATUS
The charity is registered with the Charity Commission for Northern Ireland at reference No.107775 and is now registered with H M Revenue and Customs at reference NI01405.
SMALL COMPANY RULES
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 (c46) relating to small companies and in accordance with the Financial Reporting Standard 102 Section 1a - Small Entities.
INDEPENDENT EXAMINER
The independent examiner, Nicola Taylor FIATI of Messrs Minshull & Company, Chartered Accountants and Registered Auditor, offers herself for re-appointment as independent examiner.
BY ORDER OF THE BOARD
B McCrea
Chairperson
Date 27 July 2024
Page 8