REGisfERED COMPAhW PIUMBER: N1647635 (Noi'iliei'n Ii'elaJi(l) REGISTERED CHAIUTY NUMBER: 107956 REPORT OF THE TRusfEES AND UNAUDITED FIIYANCIAL STATEMEwrs FOR THE YEAR ENDED31 AUGUST2022 FOR THE GOLIATH TRusr M.B.McGTady & Co Chartered Accounlants Suite 2B Cadogan House 322 Lisbum Road Belfast Co. Antrim BT9 6GH
'I'IIE GOLIATII TRusr CONTENTS ofi THE FINANCIAL STATEMEI NTS FOR I'H& YEAR ENDED 31 AUGUST 2022 Page Repoi't of the Trustees I to 3 Indopendent xaminer's Repor¢ SIAtom¢iit tsf Finan¢iRI Activities BAlance Sheet Notes to the Financial Statements 7 10 12
THE GOLIATH TRusr RE4 POIIT or THE TRUSTEES riOR THE YII AR EtYDED 31 AUGusf2022 The trustees who ai'¢ also directors of the chaiity for the purposes of the Companies Act 2006, present their tEport with the financial statements of the chai'ity for ihe year cnded 31 August 2022. The tsuslees have adopted the piDvisions or Accounting and Reporting by Charities., Statenient of Recommended Practice applicable to charities prepai'ing their accounts in aGGordonce with the FinaiicTal Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OWECflVES AND ACI'ivrriEI S Objeetives And aims The charity's mission statement is as follows: "To raise funds to provide targeted extra financial support for primary schools serving disadvantaged communities in Belfast. in ol'der that educational outcomes in those schools are signiffcantly improved" Tl)e key strntegic objectives set for the ycar ar¢: l. To encourage pupils, teachers and parents to aspire individually and collectively to improved educalional achievement and better educational oiitcomes so that life can be better for those wlio ar¢ currently disadvantaged. 2. To woi'k with school principals and teachers lo motivate pupils lo improve schijol attcnd&nce and to sponsor school- based reward schemes for the pupils with high levels of attendance. 3, To provide additional, specialist Iraining for (eachers, in order to maximise the use of all the available, technology and digi181 devices, so as to improve the education of pupils in a range of l.T. skills. 4. To organise meetings, workshops and seminars where leachers from schools in disadvantiged areas can come together lo discuss the challenges that they face and share besl pfdctice in findiiig solulions to ihe problems and issues that they face. 5. 'fo provide, assistance, in term5 of small amounts of finance l)oth to set up and lo sustain parent engagement initiatives in schools where appropriate 6, To pi'ovide assistance in in temis of small amounts of finance both lo set up aiid to sustaii) special nurtu units in schools that have iderLtified them as a ne¢d. 7, To continue lo work with edurators in disadvantaged neighbourhoods in Belfast to find ways lo improve circumstances and enhance lh¢ personal developinent of the pupils under their care. FINANCIAL REVIEW Pi'incipal funding sources The principal fuiiding source of the charity is through donations from individuals and businesses who support our objectives. Reseives policy Tlie trustees liave examined the charity's requiremei)ts for reserves in light of the main iisks to tlie organisation. It has established a policy whereby the unr¢stricted funds nol committed or invested in tangible fixed assets held by the chai'ity should be between 3- and 6-months expenditure. FUTURE PL,ANS Thc chai'ity 15 committed to the continued provision of Current S¢Tvices and suppirt to primary schools, subje¢t lo satisfactory fuThding arrangements.
TFIEI GOLIATH TRusr REPORT OFTHK TRuyfEES FOR I'HE YEAR EI NDID 31 AUGUST 2022 STRucfuRE, GOVERNANCE AND MANAGEMENT Govei-ning doeiiment The charity is conlrolled by its governing documenl. a deed of irust. ai)d constitutes a limited Gompany, limited by guarantee, as defined by the Companies Act 2006. 'I'he organisation is a charitable company limited by 8uarantee, incory)ornled on 25th August 2017. The company was o5tablished under a Memorandum of AsslatIon which established the objects and powers of the hai'itable company and is govemed under ils Article5 of Association. The Memorandum lists the company's objects the advanceinenl of community development for th¢ publi¢ benefit in EduGalion, in parliculai. bul not exclusively by any or all of the following means: (i) siipporting and developing Ihe work of schiK)I principals. teachers and parents through charitable activity which seeks to improve the quality of life of the citizens of the area of benefit; (li) Raising educational outcome expectations in both pupils and pants. (iii) Building mutually beneficial linkages between donorcompanies and rexipicnt schools. (iv) Increasing the knowledge and l.T. capa¢ily of individual citizens growing up in disadvantaged communilies. In the event of the company being wound up members a required tocontribule an amount not exceeding £1. Rtcruitmeiit And appointment of new triistees I'he directors of the company are also charity trustees for the purpose of charity law and under the company's ai'li¢l¢s of associalion shall Inanage the business of the company and exercise all powe of the company. At each annual general meeting one thii'd of the directors retire by roialion. Due lo the nature of tlie charity's work the Iruslee5 seek to ensure that tlie needs of the community are appropriately refle¢ted through ihe diversity of Irustees. To enhance Ihis, trustee5 are soiight wlio can detTIOTlStrate interest and underslanding of the charity's work. OIEAnis%tlonAI structui Tlie Charity 15 iiianaged by a voluntary board of members. The board oversees the Charity through a general manager who has desigi)aled responsibilily for ils day to day operational management, individ1181 supervision of slaff where appi'opriate and en5uriiig that the team Continues lo develop their skills and working perfoiThance in line with good practice. The financial aspect of the charity is managed by the charity's finance cornmittee whose function 15 to moiiitor aiid repoit to the board to enable il lo make infomi¢d fundi1 decisions for the ch&'ity not only for the present bul also in ensuring ils objectives are suslailled going foiward. Key manAgement remuneratioll The lot81 employee benefits of the key managemenl peonnel of the charity We £9,443. Related pai'ties 1.here no r¢laled parties within the fiiiancial year under review. REFEI RENCII AND ADMINISTRATIVE DETAIIS Registcrcd Company number N1647635 (Nortkern Ittland) Registered Charity numbei. 107956
THE GOLIATH TRUST REI PORT ofi THE TRUSTEES FOR THE YEAR ENDED 31 AUGU2022 Registered office St Mark's Rectory 119 Ltgoniel Road Belfast Co. Anlrim BT148DN Triistees Dr A McDonnell Retii'ed GP. Politician J K P Mccaffrey Fundraiser (resigned 2Y3f2022) R T Flayden Public Affaitsl PR c.onsultant The Ri Rev A F Abernethy Retired Bishop Ms M D McDonald Retired P Crdwford Head Of Creativ¢ Learning, Lyric Theatre l.ady D Trimble Retired Ms T Galvin Education Developcr Mrs M E Madden Retired Ms S S¢ottTeach¢r R A Dunlop Retired J J M O'Boyl¢ Tea¢h¢r MS V Parr Teacher (appointed 221312022) CompRny Secre¢aiy R THayden liidcpcndent Exlminer M,B.M¢Grady & Co Chartered Accountants Suite 2B Cadogan House 322 Lisbui'n Road Belfast Co. Anli'im BT9 6G14 BAnkers Danske Bank Solicitors Macaulay Ritchie Solicitors I l Talbot SireEt Belfasl BTI 2LD Approved by oiyler ofthe Ixjard of tnteeS on 12 January 2023 signed on its behalf by: TheRI Rev A F AlmethY- Trustee
INDEPLNDEN"I' EXAMINER'S REPORT TO THE I'RusfEES OF THE GOLIATH TRUST I report on the accounts of the company for ihe year ended 31 August 2022, which are set out on pages five to twelve. Respeetive responsibilities of chxrity trustees and exAminer As the charity's trustees (and also the directors for ihe purposes of company law) you are spOnsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charlty is not subject to audit under company law and is eligible for independent examination. it is my responsibility to.. examine the accounts under Section 65 ofthe Charities Act follow the procedures laid down in ihe general Direelions given by the Charity Commission forNorthern Ireland under Section 65{9)(b) of the Charities Act state whether particular matters have wme lo my attention. BASIS of the independent examiner's report I have examin¢d your ¢harity accounts as reqUId under Se¢lion 65 of the Charities Acl and my examination was carried out in accordance with the general DIrtIonS given by the Charity Commission for Northern Ireland undcr Seclion 65{9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosu5 in the accounts, and seeking explanations from you a5 ¢h8rity trustees Concerning any such matters. My role is tr) state whether any material matters have come lo my attention giving me cause to believe: That accounting records were not kept in accordance wilh Section 386 ofthe Companie5 Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006 and wilh ihe methods and principles of the Charities Stalement of Recommended Practice applicable to charities preparing their accoun15 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland That there is further infornlation needed for a proF¢r undetsl&nding of the accounts lo be reached. Indepenilent exRminer's stAtement have completed my examination and have no con¢ems in ffspect of the matters (l) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Mr Conaill McGrady FCA M.B.McGI'ady & Co Chartered Accountants Suite 2B Cadogan House 322 Lisburn Road Belfast Co. Antrim BT9 6GH
THE GOLIATH I'Rusr SI'AI'LMENT OF FINANCIAL AcfiviTIES riOR THE YEAR ENDED 31 AUGUST 2022 3118122 Total fulld5 3118121 Total fiiiids Uiirestricted fund Restricted funds Nole5 INCOME AND ENDOWMENTS FROM Donatioiis and legacies 5,861 37.096 42957 79.633 EXPENDITURL ON Raising funds 715 715 5,095 CliaritRble Ac¢ivities Chai-itdbli activity 21,131 24,096 45,827 45,000 Other 2,138 8J58 10,496 229 TolAI 23,984 33,054 57,038 50,324 IYCIT INCOMEI(EXPENDITURE) (18,123} 4,042 {14,081) 29,309 RECONCILIATION OF FUNDS Total fiinds bi'ought forivard 44,624 44,624 15,315 TOTAL FUNDS CARRIED FORWARD 26,501 4,042 30,543 44,624 The notes lorm part of these financÉal ststements
THE GOLIATII TRUST BALANCE SHEET 31 AUGUST 2022 3118122 3118121 Total I'unils Ullre5li'icted fund Restricted funds funds Notes CURRENT ASSETS Cash at bank 26.801 4,042 30.843 44,924 CREDITORS Ainounts falling due within one year (300) (300) (300) NF.T CURRENT ASSETS 26.501 4,042 30,543 44.624 I'OTAL ASSETS Ll+ SS CURRENT LIABILITIES 26501 4,042 30,543 44,624 NET ASSETS 26501 4.042 30,543 44.624 FUNDS Unrestricted funds., Unrestricted Resli'icted funds io 26,SOI 4,042 44,624 TOTAL FUNDS 30,543 44.624 The chai'itable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022. The members have not required the company lo obtain an audit of ils financial statements for the year ended 31 August 2022 in accordancc with Section 476 of Ihe Companies Act 2006. The trustees acknowledge their responsibilitie5 foi. (a) ensuring that the chartlable conipany keeps accounting records that cojnply wtlh Sections 386 and 387 of the Companies Acl 2006 and preparing financial stateinenls which give a true amd fair view of the slate of affairs of the charitable compai)y as ai the end of each financial year and of its suryilus or deficit for each financial year in accordance with the requirements of 5eclions 394 Mnd 395 and which otherwise comply with the requirersienls of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) These financial staleinents have been prepared in accordance with the provisions applicable to charitable companies subject to the small companie5 r¢ginie. The fin811¢ial statements were approved by Ihe Board of Trustees and authorised for issue on 12 January 2023 and We signed oil ils behalfby: The Rt Rev A F Abemeihy- TTLlStee The notes forni part of these flnancial statements
TFIE GOLIATH TRusr NOTKS TO THE fi INANCIAI, STATEMII Nrs riOR THE YEAR ENDED 31 AUGusf 2022 AccouKfiNG POLICIES BASIS of pi'epxring the finanei%l statements The finaiieial staiements of ihe charitable company, which is a public benefit entity under FRS 102, have been prepared in acwrdance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charilie5.' Slateinent of Recommended Pt7clice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of li'eland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The I".inancial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have b¢en prepared under Ihe historical cost convention. Flnancial reporting stAndard 102- r¢du¢ed disclosure exemptions The Cliaritable conipany has taken advantage of the following disc105ure exemptions in preparing these financial Statements, as pemiitted by FRS 102 The Financial Reporting Standard applicable in the UK and Republic of li'¢land': the requirements of Section 7 Statementofcash Flows. Income & endowments All inaome is recognised in the Statement of Financial Activities once thc charity has entitlemen¢ to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as ihere is a legal or construclive obligation ¢ommitting thc aharity lo that expenditiire. it is probable that a transfer of econoini¢ beiiefils will be required in settlement and the atnount of the obligation can be rn¢asured reliably. Expenditure is accounted for on an accruals basis and has beeii classified under headings that aggregate all cosi related to ihe categoiy. Where costs cannot be directly attributed to particular headings they have been allocated to activitie5 on a basis consistent wilh the use of re50urees. TaxAtion The charity is exempt from Co0[tIOn on its charitable activities. Fuiid Accounling Unre5tri¢led ftinds can be used in accordance with the charitable objectives at the diwretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Resti'ictions arise when specified by the donor or when Thd5 are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is incliided in tlie notes lo ihe fanCIal statements. Pension costs and other post-retiremellt benefits The charitable company operates a defined conlribution pension scheme. Contributions payable to the chai'ilable ornpany's pension scheme are charged to the Statement of Financial Activities in ihe period io which ihey relate. conliniied...
THE GOLIATH TIIUST NOTESTOTHE FINANCIAL sfATEMEN"rs-eontinued roR'I'HE YEI All II'NDED 31 AUCIIST 2022 DONATIONS AND LEI GACIES 3118122 3118121 Donations Gift aid Grants HMRC JRS Grant 21,920 71,441 2,214 4,149 1.829 21.037 42,957 79,633 Gi'ants re¢¢iv¢d. inoluded in the above, are as follows: 3118122 3118121 Depailmeiit ofForeigTE Afrai, Dublin for SuminerReadin8Rewvery Scheme Administratoi. post Rent DOFA grant OihLI' grants 4,179 4,149 8,358 2,473 6,027 21,037 4.149 RAISING FUNDS RRising doiintions and legacies 3118122 3118121 Slaffrosts Publicity m8terials Travel & subsistence 1,588 2,870 637 345 370 715 5,095 CHARITABLE AcfiviTIES COSTS Suppoi't costs (set note 5) Diitct Costs Totals Charitable activity 44,943 45,827 continued...
THE GOLIATH TRUST NOTLS TO THE FINANCIAI, STATEMENTS- contillued FOR TIIE YEAR ENDED 31 AUGusf 2022 SUPPORT COSTS Govei'nance costs Management riinance Tot81s Charilable activity 498 73 313 884 TRusfEES' REMUNERATION AND BENEFITS Ther¢ were no trustees, remuneralion or other beneflts for the year ended 31 August 2022 nor for ihe year endcd 31 August 2021. Trusttos, expenses There were no 31 Aligust 2021. trustees, expenses paid for the year ended 31 August 2022 nor for the year endcd AFF cosrs 3118122 3118121 Wages and salaries Othei. pension costs ,440 148 1,588 The average monthly number of employees during the year was &8 follows: 3118122 3118121 Administration Staff No employe¢s received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMKNf OF FINANCIAL AcfiviTll¢ S Unrestricted fund Restricled fund Total funds INCOME AND ENDOWMEiYfS FROM Donations and legacies 79,633 79.633 XPENDITURE ON Raising funds 5,095 5,095 Clillritable activities Charitxble activity 45.000 45,000 Other 229 229 TotAI 50.324 50.324 INCOME 29.309 29,309 conliiiiied...
THE GOLIA'fH I'RUST NOTE4 s'ro i'HE FINANCIAL,STATEMENTS - colltinued FOR THE YFI AR EI Nl)ED 31 AUCUS'I" 2022 COMPARATIVEI S FOR THE sfATEMKNT OF FINANCIAL AcfiviTIES- tontinued Unrestricted RestYicte(I fuiid rund Total funds REI CONCJLIATION OF FUNDS Tot funds brought forwdrd 15,315 15,315 TOTAL FUNDS CARRIED FORWARD 44,624 44.624 CREDITORS: AMOUNTS FALLINC DUE WITHIN ONE YEAR 3118122 3118ni A¢¢ruals and dcferrcd inconle 300 300 io. MOVEMENT IN FUNDS Net movement iu funds Ai 3118122 At 119r21 Unrestri¢¢¢d fuiids Unrestricted 44,624 (18,123) 26,501 Restricted funds DOFA Rent Poety Competition 2,473 1,569 2,473 1,569 4,042 4,042 TOTAL FUNDS 44,624 (14,081) 30,S43 Net movement in funds, included irt the al)ove are as follows: liitoming resources Resource5 expended Movement in funds Unrestricted funds Uni'eslricted 5.861 (23.984 } (1&123) Restricted funds Summer reading programjn DOFA AdTnin post DOFA DOFA Rent Poetry Competition 10,206 8,358 2,473 10,059 (10206) (8J58) 2,473 1,569 (14J90) 37.096 (33,054) 4,042 TOI'AL FUNDS 42.957 (57,038) (14,081) 10 continued...
THCI GOLIATH TRUST NOTII S TO THE FI INANCIAL STATEMEKfs- continued IOR THE YII AR LNDED 31 AUGUST 2022 io. MOVEMENT IN FUNDS- eolltlllued ConipAra¢ive5 lor movernenl in funds Net movement ill funds At 3118121 At 119r20 Uni'esti'icted funds UntEstricted 15Jl5 29,309 44,624 TOTAL FUIYDS 15,315 29,309 44,624 Comparative net movement in funds, included in the above are &$ follows: Incoming resoui'ces Resoiirces expended Movement in fuiid5 Uni'esti'ieted funds Unre5tricled 79,633 (50,324) 29,309 TOTAL FUNDS 79,633 (50,324) 29,309 A cUrnt year 12 months and prior year12 months combined position is as follows: Net moveineiit in funds At 3118122 At 119r20 UnYe5trieted funds UnStricted 15J15 11,186 26,501 Restricted fiin(ts DOFA Rent Poety Competition 2,473 1,569 2,473 1,569 4.042 4,042 TOTAL FUNDS 15,315 15,228 30,543 contiiiued...
THE GOLIATH 'I'Rusr NOTES TO THE FINANCIAL STATEMEIYTS-rontAnued FOR TIIE YEAR F.NDf.D 31 AUCUST 2022 io. MOVEMEI NT IN FUNDS- contiiiued A current year 12 months and prior year 12 monihs combined net movement in Mnds. incliided in the above are as follows.. Incoiniiig re50uiYes Resources expellded Movement ill funds Unrestricted funds UniEstricted 85,494 (74,308) 1,186 Resti'icted fuiids Summer adIng progrdtnm DOFA Admin post DOFA DOFA Rent Poetsy Competition 10.206 8,3.$8 2,473 16.059 (10.206) (8,358) 2,473 1,569 (14,490) 37,096 {33,054) 4,042 TOTAL FUNDS 122.590 (107,362) 15,228 li. RELATED PARTY DISCLOSURES 'rhere were no rclaied paily transaclions for the yearended 31 Augus(2022. 12