Eoln Henry Foundatlon Ltd 'Company Llmfted By Guarants Dlrectors Report and Flnanclal Statements For the year end 30 June 2024 N1646672 Eoln Hènry Foundatlon Ltd 'Company Llmlted By Guarantee, Report and Flnanclal Statements For the year ended 30 June 2024 Report of the trustees for the year endlng 30 June 2024 trustees are pleased to present their annual directors. report together with the financial statements of the chanty for the year ending 30 June 2024 which are also prepared to meet the requirements for a directors. report and accounts for Companies Act purposes. The financial statements comply wtth the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association. and Accounting and Reporb'ng 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) (effeth've 1 January 2015>. The purposes of the charlty Eoin Henry Foundation Ltd was established to help promote the relief of sickness and the preservation of heatth among people residing pemianently or temporarity in Northem Ireland. Our volunteers Our volunteers include those named as Twstees {induding Chair Trustee). the Secretary and other persons who offer their voluntary ServI￿S on an ad hoc basis. Achlevements and perforniance The charity has managed to provide services and support to both local and regional charities and persons in need. Regular donations and fijndraising have been fundamental to the Suc￿sS of the charity as well as voluntary Servi￿ provided by the Trustees, Secretary and other members of the local communty. On the 14 December 2020, the Eoin Henry Foundation Ltd was officially placed on the Charity Commission register under Charty Number 107854. Flnanclal revlew During 2024, the Charity's primary fundraising event was the Annual Gala Ball, which was a s￿nifICant success and played a crucial role in supporting its ongoing objectives. The Chanty ber* from having no fix￿1 running costs, as all Trustee activities are carried out on a voluntary basis. While there was a net deficit of funds at the year-end. this was due to an increase in direct donations made to local chanties from the fvnds raised. These donab'ons were cover•J by the Charity's re8erv88, ensuring rt remains a going concem. The res8Nes indude the remalnlrKJ funds raised, which were dislributed to more than 20 local charrties after the year￿. Re•ervH pollcy and golng concern The trusteos have rwlewad the re8erve8 of the charlty. The pollcy is to hold enough lunds to meet four month8 operating c08ts of the charity. Pl4n• for future p•rlod• The Trustees wlll contlnue to Identlfy local reglsterad charrties in need of funds to help the relief of 8lckne88 and the pr888Nalion of health among people residing permanently or temporarily In Northem Ireland. Eoln Henry Foundatlon Ltd 'Company Llmft•d By GuirnntM' Rèport and Flnanclal Statem•nts For th• yfr•r •nded 30 Jun• 2024 Rel•rMce and admlnhtratlv• d6ts1 Company nwnber. N1646672 Charity number. 107854 Registered Office: 127 Agivey Road Kilrea BT514AY httpJfvMY.eoinhenryfoundation.com Advlsors JohnstonGrieve Chartered Accountants 3 Wellington Park Belfast BT9 6DJ Danske Bank Baltymoney Northem Ireland stephen Henry Veronka Henry Kevln Johnston Eoln Henry Foundatlon Ltd 'Company Llmlted By Guarantee, Report and Flnanclal Ststemènts For the year ended 30 June 2024 Structure, Governance and Management Govemlng 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 Chaiity Commission on 14 December 2020. Registered Charity number 107854. Appolntment of trustees The existing trustees are responsible for the recruitinent 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. Organlsatlon The board of trustees administers the charity. The board nornialtry meets quarterty and covers development, membership and finance. A Chair is appointed by the trustees to manage the day-to4ay operations of the charity. To facilitate effective operations. the Chair has delegated authority, within temis of delegation approved by the trustees, for operational matters including finance and development related activty. 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 m¢)St significant of these are; EFS (Nl) Ltd JohnstonGrieve Chartered Accountants. Prlnclpal fundlng sources The charty's main source of income is giving at fvndraising events. Giviro at organised events is both generous and encouraging. Voluntary donations by direct debit I standing order transadions are also received throughoul the y&3r. Eoln Henry Foundatlon Ltd 'Company Llmlted By Guarantee, Report and Flnanclal Statements For the year ended 30 June 2024 Trustee's responslbllltles In reL￿10n to the flnanclal statements The chanty trustees of Eoin Henry Foundation Ltd are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United ￿.￿Jd0M Accounting Standards (United Kingdom Generally Accepled Accounting Practice). Company law requires the charty trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charrtable company and the group and of the incoming resources and application of resources. induding 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 consistenty: obseNe the methods and principles in the Chanb'es 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 concem basis unless it is inappropriate to presume that the tharrty will continue in business. The trustees are responsible for keeping proper accounting records that disdose with reasonable accuracy at any time the financial posrtion of the charty 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 finanaal infonnation included on the charitable company's website. Legislation in the United Kingdom governing the preparalion and dissemination of financial statements may differ from legislation in other jurisdicts'ons. Statement as to dlsclosure to our accountants In so far as the trustees are aware at the time of approving our trustees, annual report there is no relevant infomiation, being infomiation needed by the accountsnt in connection with preparing their report, of which the accountant is unaware, 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 arKI to establish that the accountant is aware of that information. order of the board of trustees in Johnston 26 Eoln Henry Foundatlon Ltd 'Company Llmlted By Guarantee, Report and Flnanclal Statements For the year ended 30 June 2024 Income and expendtture account Unro8trlct•d Ro•trlct•d Fund• Fund• Tot41 2024 Total 2023 NOTES Ineom• t)onats'ons Income from chariLqble aCtI￿￿'8S 100 100,994 100.994 132.518 Total Income 132 618 Expondltur• Cost of raising funds Expenditure on chariL9ble activits'es 24.228 24,228 27.878 79,257 79,257 40,975 Total •xpondttur• Net deficlt and net movement In funds for th• year (2,491) 12A91) 63,765 51 51 42 R￿on¢111•*1on of Fund• Tcrtal funds brought forward 28,392 T of income have been met, rt is probable that the income will be received. and the amount can be measured reliabty. Income from govemment and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the chanty has entitlement to funds, any perforniance conditions attathed 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) D¢)nated wvice8 and facilities D￿ated services and donated facilitles ar8 recognised as incom8 when tho charty has control over the item, any condltion8 as80ciated with the donated item have been met, the recelpt of economic benefit from the use by the chanty of the rtem is probable and that economlc benefft can be measured reliably. In accordance wrth the Charities SORP (FRS 102), the general volunteer time of the Friends is not reco9nised and refer to the trustees, annual report for more infomiation about thelr contribulion. On receipt, donated 6ervic68 and donated facilitie8 are recogni8ed on the basis of the value of the gift to the charity whlch is the amount tha charity would have been willing to pay to obtain 8ervic88 or facilits'88 of equlvalenl economic benefil on the open market., corresponding amount is then recognised in expenditure in the period of re¢￿Pt. Eoln Hènry Foundatlon Ltd 'Company Llmlted By Guarantee, Report and Flnanclal Statements For the year ended 30 June 2024 e) Interest receivable Interest on funds held on deposit is induded when receivable and the amount can be measured reliably by the charity,. this is normally upon notffication 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 charty which Ihe trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specffied are to be solety used for particular areas of the Trust's work or for specific projects being undertaken by the Trust. 9) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third paty, it is probable that settlement will be required, and the amount of the obligation can be measured reliabty. Expenditure is dassified under the following activty headings: Costs of raising funds comprise the costs of commercial trading including the bar and coffee lounge and their associated support costs. Expenditure on tharitable activities includes the costs of perfonnances, exhibitions and other educational activities undertaken to fvrther the purposes of the charity arKI their associated support costs. Other expendrture represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activty for which the expenditure was incurred. h) Tangible fixed assets Individual fixed assets costing £1,000 or more are capilalised at cost and are depreciated over their ests'mated useful economic lives on a straight line basis as follows: A••et Category Long18888hold building8 Plant, equipment and motor vehicles Annual rato 1_29/0 1W3% i) Cash at bank and In hand Cash at bank and ca8h in hand includes cash and short term highty liquid investments wth a short maturrty of three month8 or1888 from the dat8 of acquisition or op8nin9 01 the depo•rt or similar account. Eoln Henry Foundatlon Ltd 'Company Llmlted By Guarantee, Report and Flnanclal Statements For the year ended 30 June 2024 2. Legal status of the Trust The Trust is registered as a company limited by guarantee. registered on 29 June 2017 arKI will have no share capital. In the event of the charity being wound up, th8 liabilty in respect of the guarantee is limited to £5 per member of the charty. On the 14 December 2020. the Eoin Henry Foundation Ltd was officially placed on the Charty Commission register under Charity no. 107854. 3. Flnanclal Perfonnance of the charlty Unr••trlctod Rrftrlctod Funds Funds Total 2024 Total 2023 Exp•ndlturn Cost of raislng funds Promotional materials Office expenses Venue hire and raffle prizes Bank Fees 1.476 50 20,855 1,847 1.476 50 20,855 1,847 3.059 293 24.473 53 Total Cost of raising funds 24.228 24,228 Exwndlturn on charltsbl• 79.257 79.257 40.975 Total •xp•ndltur• Expenditure on Charitable Activities represents amounts paid to regional arKI national registered d7arities and other individuals that the members have deemed in need of sUPPOrt as per the Objects of Eoin Henry Foundation Ltd. 4. Ca•h at bank Unrn•trlct•d Fund• RMtrl¢t•d Fund• Total 2024 Total 2023 B•l•n￿ •t bank 92,199