Eoin Henry Foundatlon Ltd 'Company Llmlted By Guarantee, Directors Report and Financial Statements For the year end 30 June 2023 N1646672 *AC2V8Ok19* 28103r2024 COMPANIES HOUSE A05 #172 Eoin Henry Foundation Ltd 'Company Limited By Guarantee, Report and Financial Statements For the year ended 30 June 2023 Report of the trustees for the year ending 30 June 2023 The trustees are pleased to present their annual directors, report together with the financial statements of the charity for the year ending 30 June 2023 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to chafities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2015). The purposes of the charity Eoin Henry Foundation Ltd was established to help promote the relief of sickness and the preservation of health among people residing permanently or temporarily in Northern Ireland. Our volunteers Our volunteers include those named as Trustees (including Chair Trustee). the Secretary and other persons who offer their voluntary services on an ad hoc basis. Achlevements and performance The charity has managed to provide services and support to both local and regional charities and persons in need. Regular donations and fundraising have been fundamental to the success of the charity as well as voluntary services provided by the Trustees, Secretary and other members of the local community. On the 14 December 2020, the Eoin Henry Foundation Ltd was officially placed on the Charity Commission register under Charity Number 107854. Financlal review During 2023, the majorty of fundraising occurred during the Annual Gala Ball. This was a significant success and enabled the Charity to continue its objectives. The Charity is in the fortunate position that it does nol incur fixed running costs as all work by the Trustees is completed on a volunteer basis. As such, the Charity continues to operate as a going concern. The reserves include the majority of these funds which were distributed amongst more than 10 local charities afteF the year end. Reserves policy and going concern The trustees have reviewed the reserves of the charity. The policy is lo hold enough funds to meet four months operating costs of the charity.. Plans for future periods Our plan is to continue to host the larger annual events that help gather large crowds to which the Charity can promote il's objects. The Trustees will continue to identify local registered charities in need of funds to help the relief of sickness and Ihe preservation of health among people residing permanently or temporarily in Northern Ireland. Eoin Henry Foundation Ltd 'Company Limited By Guarantee, Report and Financial Statements For the year ended 30 June 2023 Reference and administrative details Company number., N1646672 Charity number.. 107854 Registered Office: 127 Agivey Road Kilrea BT514AY Website: http:IIwwN.eoinhenryfoundation.com Advisors Accountant.. JohnstonGrieve Chartered Accountants 3 Wellington Park Belfast BT9 6DJ Bank". Danske Bank Ballymoney Northern Ireland Trustees Chair Trustee.. Stephen Henry Trustees: Veronica Henry Kevin Johnston Patrick Henry (resigned 1 November 2023) Eoin Henry Foundation Ltd 'Company Llmited By Guarantee, Report and Financial Statements For the year ended 30 June 2023 Structure, Governance and Management Governing document Eoin Henry Foundation Ltd is operated as a community association following the same format as a company limited by guarantee governed by its Memorandum and Articles of Association. The association became a registered charity with the Charity Commission on 14 December 2020. Registered Charity number 107854. Appointment of trustees The existing trustees are responsible for the recruitment of new trustees. The trustees believe this approach ensures that new trustees are respected members of the local communities. The Trustees are volunteers and do not receive remuneration for activities relating to the charity. Organisatlon The board of trustees administers the charity. The board normally meets quarterly and covers development, membership and finance. A Chair is appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Chair has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance and development related activity. Admlnlstratlon A number of companies donate services during the year for continued administration of the Charity. This is a significant resource that allows the Charity to donate as much funds raised as possible direct to local charities. The most significant of these are- EFS (Nl) Ltd and JohnstonGrieve Chartered Accountants. Principal funding sources The charity's main source of income is giving at fundraising events. Giving at organised events is both generous and encouraging. Voluntary donations by direct debit I standing order transactions are also received throughout the year. Eoin Henry Foundation Ltd 'Company Llmited By Guarantee, Report and Financial Statements For the year ended 30 June 2023 Trustee's responsibilities in relation to the financial statements The charity trustees of Eoin Henry Foundation Ltd are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply them consislently., observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent., state whether applicable UK accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any lime the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Statement as to disclosure to our accountants In so far as the trustees are aware at the time of approving our trustees, annual report.. there is no relevant information. being information needed by the accountant in connection with preparing their report, of which the accountant is unaware, and the trustees, having made enquiries of fellow directors that they ought to have individually taken, have each taken all steps that helshe is obliged to take as a director in order to make themselves aware of any relevant information and to establish that the accountant is aware of that information. By order of the board of trustees Kevin Johnston Date Eoin Henry Foundation Ltd 'Company Llmited By Guarantee, Report and Financial Statements For the year ended 30 June 2023 Income and expendlture account Unrestricted Funds Restricted Funds Total 2023 Total 2022 NOTES Income Donations Income from charitable activrties 100 100 45 132,518 132,518 99,517 Total Income 132 618 132618 Expenditur8 Cost of raisin9 funds Expendilure on charitable activities 27.878 27,878 31,214 40,975 40,975 48,794 Total expenditure Net income and net movement in funds for the year 63,765 63,765 19.554 Interesl received 42 42 Reconciliation of Funds Total funds brought fO￿ard 28,392 8,834 Total funds carried forward The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. B order of the board of trustees Kevin Johnston Date Eoin Henry Foundation Ltd 'Company Limited By Guarantee, Report and Financial Statements For the year ended 30 June 2023 Balance Sheet As at 30 June 2023 2023 2022 NOTES CURRENT ASSETS Cash at bank 92.199 NET ASSETS The funds of the charity Unrestricted income funds Restricted income funds 92.199 28,392 TOTAL CHARITY FUNDS The directors are satisfied that the company was entitled to exemption from Audit under Sections 475 and 477 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Act. These Accounts have been prepared in accordance with the provisions applicable to Companies subject to the small companies regime. The directors acknowledge their responsibilities for.. ensuring that the company keeps accounting records which comply with Section 386; and li preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as is applicable to the company. y order of the board of trustees Kevin Johnston Date Eoin Henry Foundation Ltd 'Company Limited By Guarantee, Report and Financial Statements For the year ended 30 June 2023 Notes to the Accounts 1. Accounting Policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows.. a) Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Eoin Henry Foundation Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). b) Preparation of the accounts on a going concern basis The Trust reported a net cash inflow of £63,807 for the year. The trustees are of the view that the charity is a going concern. c) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably. Income from government and other grants. whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement lo the funds, any performance conditions attached to the grants have been met. it is probable that the income will be received and the amount can be measured reliably and is not deferred. d) Donated services and facilities Donated services and donated facilities are recognised as income when the charity has control over the item. any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the rtem is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102). the general volunteer time of the Friends is not recognised and refer to the trustees, annual report for more information about their contribution. On receipt, donated services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain seNices or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Eoin Henry Foundation Ltd 'Company Limited By Guarantee, Report and Financial Statements For the year ended 30 June 2023 e) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. fj Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the ch'arity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are lo be solely used for particular areas of the Trust's work or for specific projects being undertaken by the Trust. g) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Costs of raising funds comprise the costs of commercial trading including the bar and coffee lounge and their associated support costs. Expenditure on charitable activities includes the costs of performances. exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs. Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. h) Tangible fixed assets Individual fixed assets costing £1.000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows.. Asset Category Long leasehold buildings Plant. equipment and motor vehicles Annual rate i) Cash al bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Eoln Henry Foundation Ltd 'Company Llmlted By Guarantee, Report and Financial Statements For the year ended 30 June 2023 2. Legal status of the Trust The Trust is registered as a company limited by guarantee, registered on 29 June 2017 and will have no share capital. In the event of the charity being wound up. the liability in respect of the guarantee is limited to £5 per member of the charity. On the 14 December 2020, the Eoin Henry Foundation Ltd was officially placed on the Charity Commission register under Charity no. 107854. 3. Financlal Performance of the charity Unrestricted Funds Restricted Funds Total 2023 Total 2022 Expenditure Cost of raising funds Promotional materials Office expenses Venue hire and raffle prizes 8ank Fees 3,059 293 24,473 53 3,059 2,470 24.473 53 28,677 67 Total Cost of raising funds 27,878 31,214 Expenditure on charitable activities. 40,975 40,975 48,794 Total expendStur• 'Expenditure on Charitable Activities represents amounts paid to regional and national registered charities and other individuals that the members have deemed in need of support as per the Objects of Eoin Henry Foundation Ltd. 4. Cash at bank Unrestricted Funds Restricted Funds Total 2023 Total 2022 Balance at bank 92,199 92,199 28,392