REGISTERED COMPANY NUMBER.. N1647635 (Northeyn li'eland) REGISTERED CHARITY NUMBER: 107956 Report of the Ti'ustees and Uiiaudlted Flnaiicial Stateinents foj. the Year Ended 31 Augusl 2023 for THE GOLIATH TRusr M.B.McGrady & Co Chaitered Accountants Suite 2B Cadogan House 322 Lisbuin Road Belfast Co. Alltiim BT9 6GH
TIIE GOLIATH TRUST Contents of the fiinanclal Statements FOR THI YEAR ENDED 31 AUGUST 2023 Page Report of tlie Truslees Indeptiident Exaininej s Report StAtcinent of Finaiicffial Activities BAlanee Sheet Notes to the f¢lnanclAI Statements 7 10 12
TTrIE GOLIATH TRUST Report of the Trustee The liustees wlio are also dii'e¢tors of the charity for the puOseS of the Companies Act 2006, present their iEpoi'l witli the financial staleinenls of the charily foi- tlie ycar ended 31 August 2023. The trustees have adopted the pi'ovisions of Accounting and Reporting by Chat'ities.. Statemeni of Recomn)¢nded Practice applicable to cl)arities prepai'ing their a¢counts in accordance witli tli¢ Financial Reporting Standard applicable in ikne UK and Republic of Irelai)d (FRS [02) (effective l Janii¢1ry 2019). OBJECTIVES AND AcfivIi'iES Objeetlves and aims The cliarity's mission slat¢nient is as follows,. "To raise funds to pi'ovide tai'geted exliz financial support for primary schools serving disadvantaged communities in Belfast, iii ol'der that educational outcomes in tliose schools are significan¢ly improved" The key strategic objectives set for the year <llt: l. To encourage pupils, teachers &nd parents to aspire individually and collectively to improved educational achievement and better educational oiilcoines so that life can be belter foi. those who are CUiTently disadvantaged. 2. To woi'k willi school pi'incipals and leach¢i3 lo niotivate pupils lo improve school attendartcc and to sponsor school- based rewai'd schenies for the pupils ivitl) high level.% of atleiidance. 3. To pi'ovide additional, specialist traitiing foi. teacheis, in ol'der to maximise the use of all tlie available, technology and digital devices, so as to impiDve tlie education of pupils in a 17n8e of l.T. skills. 4. To organise meetings, workshops and seminars where teachers from schools in disadvantllged areas can come togeiher lo discuss tlie cl)allenges Iliat tliey face and share best praclice in findii)g solulions to tlie probleins and issues tliaL tliey face, 5. To piDvide, assistance. iii temis of small aniounts of finance bolh to set lip and lo suslaiii pai'ent engagenient initia¢ivcs in scliools wliere approprialc 6. To pi'ovidc assistance in in tern)s of sinall ainounls of finance both to sel up aiid to sustain special iiurtur¢ iinits iii schools that have identified theni as a need. 7. To continue to work witli educators in disadvantaged neighbourlioods in Belfast to find ways to improve cii-cuinstances and enhance Il)e ponal developinent of11)e pupils under tlieii- caiE. FINANCIAL REVIEW Pi'iiicipal fuiiding 50ur¢es Tlie pi'incipal fiinding souire of the charity is through donations froiii individuals and biisinesses wl)o suppoit oui. objectives. Resei'ves policy The trustees have examined the charity's requirements for reserves in light of the Inain risks to th¢ oi'ganisation. It has established a policy wliei'eby the unrestriclcd funds i)ot cominitted oi. inves*d in tangible fixed assets held by thc Chai'ity should be between 3- and 6-monihs expenditure. FUTURE PLANS Tlie ¢harity is committed to the continued provision of cunrnt services and support to piimaiy schools, subject to satisfactory funditig anangements.
THE GOLIATH TRUST Repoi't of the Trustee STRUCTURE, GOVERNANCE AND MANAGEMENT Govej'niiig document I"lie chai'ity is controlled by its governing document. a deed of tSt, and coiistitutes a liniited compaiiy, liinited by guaiantee, as defined by the CompanÈes Act 2006. The organisation is a cliaritable company lin)ited by giiarantee. in¢orporat¢d on 25tli August 2017. The compai)y was established ui)der a Memoranduni of Association wliich tablIs1]ed the objects aiid powers of the chai'ilable coiiipany and is governed under ils Articles of Association. Tlie Memorandum lists the colmpanS objects as thc advanceinent of Cominunity developmeni for the public benefit iii Educalion, in particulai. but not exclusively by any or all of the following means: (i) suppoiting and developing the work of school pi'incipals. teaclietE and parents tlirough charitable activity which seeks to iinpi'ove tlie qu1¢ lity of life of dje citizens of Ilie llrea of benefit. (li) Raising educational outcome expectations in boih pupils and parents. (iii) Biiilding iniLtually beneficial linkages between donor compani and rccipient scliools. (iv) Increasing the knowledge and l.T. capacity of individual citizens growing up in disadvantaged ¢oniinuiiiti¢s. In the event of the company beii)g wound up ineinbeTS are required to contribute an amouiit not exceeding £1. Reei'uitment lind appointment of llew trustees The directors of the compaiiy are also cl)arity Iruslees for the pUoSe of charity law and undei. tlie company's articles of association sl)all iiianage the business ol. Il)e company and exei'cise all poiveiE of the coinpany. Al each annual genei'al meeting one tliii'd of tlie dire¢iors retire by i'oialioii. Due lo tlie nattiie of Ilie cliarity's woi'k tlie Irustees seek to ensure tliat tlie necds of tl)¢ cominunity are appropriately refleCd tIvou8h (lie diversity of tiuslees. To cn118nce this, Inistees al'e soiiglit wlio can demoiistszte interest and Undelanding of the cliarity's work. OrgqiiisatlonY41 sti'uctui'e The Charity is nianaged by a voliiillary board of members. The board ovcrsees Ihc Charity through a genei'al manager wlio has designated i'esponsibility for ils day lo day operational managenient, individual supervision of staff wheir appi'opiiate and ensuring that the team continues to develop theii. skills and working perfoiThance in line with good pi'actice. The financial aspect of Ilie chaiity is manaoed by the charity's finance comiiiittce whose function is to inonitoi. and report to the board to enable it to make infonned funding decisions for tlie chai'ity not only foi. the pi'e8ent biit also in ensui'ing its objectives al'e sustained goiiig foard. RelAted pxi'tles 'I'liere al'e no related paities within tlie financial year under review. REFERLI TrICE AND ADMINISTRATIVE DETAILS Registered CoMpnY nunibei. N1647635 (Northel Ireland) Registei'ed Charity number 107956 Reglstered office St Mai'k's Rectory 119 Li¢Foniel Road Belfast Co. Antrini BT14 8DN
THE GOLIATH TRUST Report of the I'rustee Trustees Di. A McDoiinell Relii'ed GP, Polilician R T Hayden Public Affai1s1 PR Consultant rtreasurer Tlie Rt Rev A F Abernetliy Retired Bisliop Ms M D McDoI)2ld Retired P Ci'awfoid Head Of Ci'eative Learning) Lyric Theatre Lady D Ti'iillblc Retired MST Galvin Education Developer Mrs M E Madden R¢lired Ms S Scott Teacher R A Dunlop RetitEd J J M O'Boyle Teacliei. MS V Paii. Teaclier Independciit Exaniiner M.B.McGI'ady & Co Cliai'lered Accoiintanls Suite 2B Cadogaii House 322 Lisbuin Road Belfayl Co. Anli'im t3T9 6GH Bankers Danske Bank Sollcltoi's Macaulay Ritcliie Solicitors I l Talbot Slrcel Belfast BTI 2LD Appi'oved by oidei. of the boai"d of twstees on 29 May 2024 and signed on its behalf by.. Tlie Rt Rev A F Abemethy -
Independcnt Examiner's Report to the Trustees of Tlie Goliath Trust I report on the accounts of the company for the year ended 31 August 2023, which are set out on pages five to twelve. Respective respoiisibilities of charity trustees and examiner As tlie charity's trustees (aiid also the directors for the puiposes of company law) you are reSnSIble for ilie prepai'ation of tlie accounts in accordance with the requii'einents of the Companies Aci 2006. Having satisfied niyself tliat the cliarity is not subject to audit under company law and is eligible for iiidependent examination, it is iny responsibility to: exainine the accounts undei. Section 65 of the Charities Act folloiv the procedures laid down in tlie geiie171 Dii'ections given by the Charity Commission foi. Northeim Ti'eland under Section 65{9)(b) of the Charities Act state whether partieular matters have come to my altention. Basls of the independent examiner's report I have examined youi. cliarity accounts &s required under Section 65 of the Cliarities Act and my examination was ¢aiTied out in accordance with the general Direclions given by the Charity Coinmission for Noi'lliern li'eland undei. Section 65(9)(b) of the Cliarilies Act. Tlie examination included a review of the accounting records kept by Il)e cl)ai'ity and a coii)pai'ison of 11)e accounts presented witli ihose records. It also included considei'alion of any unusual ileins or dis¢losiires in tlie accounts, and sceking explanations from you as cljarity trustees concerning any sucli Inatters. My rol¢ is to slate whether any material niatters have conie to my attention giving n)e cause to beli¢ve'. That accounting records were not kept in accordance witli Seclion 386 of the Coinpanies Act 2006 Tl)al tlie accoiints do not accord ivilli those accounting records Tlial tlie accounts do not comply witli the accounting requirements of Section 396 of tlie Companies Act 2006 and with tlie nicihods and principles of tlie Chaiilies Statement of Recommended Pi'actice applicable lo charitics prepai'ing tlieii. accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of li'eland Tlial tliere is rther information needed for a proper understanding of Uie accounts to be reaclied. Independent txaminer's statement I l)ave coinpletcd niy examination and have no concerns in respect of the iiiatters (l) to {4) listed above aiid, in connection will) followiiig the Dii'eclions of tli¢ Charity Comniission for Nortliern Ireland, I liave found no n)atlcrs 11)at r¢quii'e drawing to youi. attention. Con8ill MCG M.B.McGrady & Co Chartered Accountants Suite 2B Cadogan House 322 Lisbui'n Road Belfast Co. Antrim BT9 6GH 29 May 2024
THE GOLIATH TRUST Statement of Finaiiclal Activities ri OR THI VLAR ENDED 31 AUGUST 2023 3111V23 Total funds 3118122 Total fuiids Unrestricted funds Restricted funds Note5 INCOME AND ENDOWMENTS FROM Donations and leoacies 40,667 18,000 58,667 42,957 EXPEIYDITURE ON Raising fiinds 1,611 1,611 715 Chai'itable activitles Charitable acLivily 44,087 22,042 66,129 45,827 Otlier 1,751 1,751 10,496 Total 47,449 22,042 69,491 57,038 NET INCOMEI(EXPENDITURE) (6,782) (4,042) (10,824) (14,081) RE"CONCILIATION OF FUIYDS 'rolal fuiids bi'ouglit fotW8rd 26,501 4,042 30,543 44,624 TOTAL fuNDS CARRI ED FORWARD 19,719 19,719 30,543 The notes fom) part of these financial slaten*nts
THE GOLIATH TRusr Balanee Sheet 31 AUGUST 2023 3118123 3118122 Notes CURRENT ASSETS Cash at bank 20,019 30,843 CREDITORS Amoiints falling diie witliin one year (300) (300) NET CURRENT ASSETS 19,719 30,543 I'OTAL ASSETS LESS CURRENT LIABILITJEI S 19,719 30,543 NET ASSETS 19,719 30,543 FUNDS Uni'esti'icled fullds.. Uni'Lsti'icled Resti'ict¢d fund8 10 19,719 26,501 4,042 TOTAL fuNDS 19,719 30,543 The chai'itable coinpany is entitlcd lo exemplion fiDm Audit under Section 477 of tlie Conipanies Act 2006 for the yeui. ended 31 August 2023. Tl)e members have not reqiiii'ed the company lo obtain an audit of its financial statements foi. tlie yeai. ended 31 Augusc 2023 it) accoi'dai)ce with Section 476 of the Coinpanies Act 2006. Tlie trLlStees acknowledge Iheii. respoiisibililies foi. (a) ensuring tliat the charitable company keeps accounting records that comply with Sections 386 and 387 of tlie Conipanies Act 2006 and pi'eparing financial statements wliich give a trne and fair view of the state of affai of the cl1.1t8b1e coiiipany As t the end of eaclj financial ycar and of its surpliis or deficit for e2cli financial year in ac¢oi'dancc willi the i'equiL'emeiils of Sections 394 and 395 and wl)icli otlieThvis¢ comply ivilh Ilie r¢quii-einellts of tlie Compaiiies Act 2006 relating to financial stateniei)Is, so fai. as applicable to tbe cliai'itable conlpany. (b) These financial Statements have been pi'¢pared in accordance with the provisions applicable to chai'itable coiiipanies subject to tlie sinall companies regiine. The financial statements were approved by tlie Board of Trustees and authorised for issue on 29 May 2024 and were signed on ils bel)alf by: A F Abernethy - Trustee The notes forn) part of these financial sta*tlltnts
THE GOLIATH TRUST Notes to tlie Financial Statements FOR THE YEAR ENDED 31 AUGUST 2023 ACCOULYTING POLICIES Basls of preparing the fiiiancial statements Tl)e fiiiaiicial staleinents of tlie charitable company, whicli is a public benefit entity under FRS 102, Iiave be¢n piepaitd in accord1¢ nce witli the Chai'ities SORP (FRS 102) 'Accounting and Rcportiiig by Cliarities: Statement of Recon)niended Practice applicable to challties preparing Ilieir accounts in accordance with tl)e Financial Repotting Standai-d applicable in the UK and Republie of Ireland (FRS 102) (effective l Janu¢lry 2019),, Financial Reportiiiiy Siandaiyl 102 'The Financial Reporting Standai'd applicable in the UK and Rcpublic of Irelaiid, and the Companies Act 2006. The financial statenients liave be¢ii pi'epai'ed under the histoiical Cost convention. ri inaneial repoi'ting standard 102 - R'educed disclosure exeinptions Tlie chaiilable company lias taken advantage of the following disclosure exen)plion in pparlI]g Iliese finaiicial statements, as pennilted by FRS 102 'The Fin[claI Reporling Standard applicable in tlie UK #nd Republic of Ireland,: the rcqiiii'eiiients of Section 7 StAteiiient of Casli Flow5. Income & ¢iidoivinenls All incoiiie is recogiiised in tlie Slatenient of Financial Activities once the chai'ity has entitlenienl to the funds, it its probablc tliat tlie incoiiie will be received and the ainouiit can be measured reliably. Fxpendilui'e Liabilities al'e recognised as expendilure as soon as there is a legal or constiuctive obligalion commitling tlie cliai'ity to tliat expendituir, it is probable ihat a Iraiisfer of economtc benefits will be i'equiied in settlement ai)d the amount ot the obligation can be Tneasured reliably. Expenditure is aCCOLinied for on an accruals basis and has b¢en classified under lieading5 Ilial aggregate all cosl relaled 10 tl)e category. Wlieit costs cannot be dii'ectly alts'ibuted to pai'ticul. lieadiiigs tliey liave b¢¢n allocated to activities on a basis consistent willi tlie use of resoi)I'ces. Taxatlon Tlie cliarity is exeiiipt from COEyoration lax on its cliaritable activities. Fund ac¢ountlng UntEslricted fuiids can be iL8cd in accordance with the charitable objectives at the discreiion of the tte&s. Restricted fLinds can only be used for particular restricted purposes witliin die objects of the charity. Resh'ictioiis arise when specified by the donor or when fuiids are raised for particular restricted pui'poses. Fiirtlier explanation of the nalure and purpose of each fund is included in the note5 ¢0 Ilie financial statements. continued...
THE GOLIATH TRUST Notes to the Flnancixl Statements - eontinued FOR THE YEAR ENDED 31 AUGUST 2023 DONATIONS AND LEGACIES 3118123 3118122 Donations GL'ants 4,499 54,168 21,920 21,037 58,667 42,957 Gi'ants received, incliided in the above, o1.¢ as follows.. 3118123 3118122 Departinent of Foreign Aftairs, Diiblin for Suinrner Reading Recoveiy Scheme Adininisti7torpost Rent DOFA 81.ant Irisli Ameiican Partnership Suminer Reading Pi'ojecc 2023 Halifax Oiii¢i grants 4,179 8,358 2,473 24,993 15,OQO 3,000 11,175 6,027 54,168 21,037 RAISING FUNDS Ralslng doiiAtlons and legacles 3118123 3118122 Piiblicity materials Ti'avel & subsistence Suppoi't costs 320 660 631 345 370 1,611 715 CHARITABLE ACTIVITIES cosrs Suppoi't costs (see note 5) Direct Costs Totals Cbaritable activity 65,672 457 66,129 continued...
THE GOLIATH TRUST Notes to tlie binancial Statements- colltinued FOR THE YEAR ENDED 31 AUGUST 2023 SUPPORT COSTS Govei'iianee costs Management riinAiice Totals Raising donations and legacies Cliai-itable activity 262 457 69 300 631 457 719 69 3(Ki 1,088 TRUSTLI ES, REMUNERATION AND BENEFITS There were no tStets, TeiMui)cration or oihei. benefits for the year ended 31 August 2023 nor for the yeai- ended 31 August 2022. Ti'ustees, expenses Tliei¢ iveie iio 31 August 2022. tn]stees' expenses paid foi. Ihc yeai. ended 31 August 2023 noi. foi. the year ended COMPARATIV14 S FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted fuiids Restricted funds Total funds INCOMI AND ENDOWMENTS FROM Donatioiis and legacies 5,861 37,096 42,957 EXPEI NDITURE ON Raising funds 715 715 Chaj'itable activities Chai'itable activity 21,131 24,696 45,827 Oilier 2,138 8,358 10,496 Total 23,984 33,054 57,038 NET INCOMEIIKXPENDITURE) (18,123) 4,042 (14,081) RECONCILIATION OF FUNDS Total funds brought forwatd 44,624 44,624 TOTAL FUNDS CARRIED FORWARD 26,501 4,042 30,543 continued...
THE GOLIATH TRUST Notes to tl)e Financial Statements- continued FOR THE YEAR ENDED 31 AUGUST 2023 cDIToRS. JiMOUNTS FALLING DUE WITIUN ONE YEAR JlJ8123 3118122 Acci'Lials and deferred income 300 300 ANAL YSIS OF NET ASSETS BETWEEN FUNDS 3118123 Total funds 3118122 TotAI funds Unrestricted funds Restrlcted funds Cuiitnt assets Cuiiti)t liabilities 20,019 {300) 20,019 (300) 30,843 (300) 19,719 19,719 30,543 io, MOVIMKNI, IN FUNDS Net ovement in fuiids At 3118123 At 119122 Uni'estyieted funds Unrcstricted 26501 (6,782) 19,719 Resti"Icted funds DOFA Rent Poetry Coinpetition 2,473 I,S69 (2,473) (1,569) 4,042 (4,042) TOTAL FUNDS 30,543 (10,824) 19,719 Nel movement in funds, iiicluded in the above are as follows: Jneomlng resources Resoui'ces expended Movenieiit in funds Uni'esti'lcted funds Unresli'icted Aineri¢2n Ii'eland Fwid 15,674 24993 (22,456) (24,993) {6,782) 40,667 (47,449) (6,782) Restricted funds DOFA Rei)t Poetiy Competition Summei. Reading Project 2023 Haltfax Grant (2,473) (A,569) (15,000) (3,000) (2,473) (1,569) 15,000 3,000 18,000 (22,042) (4,042) TOTAL FUNDS 58,667 (69,491) {10,824) io continued...
THE GOLIATH TRusr Notes to tlie Flnanclal Statements- eontinued FOR THE YEAR ENDED 31 AUGUST 2023 io. MOVEI MEI NT IN FUNDS- continued Coinparxtlves for inovemeiit ID fund5 Tr4et movenlent in fllnds At 3118122 At 119121 Uni'estrlcted funds Unr¢sti'icted 44,624 (18,123) 26,501 Restrlcted funds DOFA Ileiil Poetiy Competition 2,473 1,569 2,473 1.569 4,042 4,(A2 TOTAL fuNDS 44,624 (14,081) 30,543 Compai'ative net inovcm¢nl in funds, included iii tlie above are a5 follows: ltteomlng resources Resoui'ces expei)ded Movemeiit ill funds Uni'estrieted funds Uiireslricted 5,861 (23,984) (18,123) Restrleted funds Siimmei. l'eading progtTniine DOFA Admin post DOFA DOFA Rent Poeliry Competition 10,206 8,358 2,473 16,059 (10,206) (8,358) 2,473 1,569 (14,490) 37,096 (33,054) 4,042 TOTAL FUNDS 42,957 (57,038) {14,081) A cuiYeAIt year 12 montlis and pi'ior year 12 months coinbined position is as follows: Net niovement in funds At 3J18123 At 119121 Unrestricted funds UniEStI'icted 44,624 (24,905) 19,719 TOTAL FUNDS 44,624 (24,905) 19,719 coiitinucd...
THE GOLIATH TRUST Notes to the Finaneial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023 io. MOVEMENT IN FUNDS- coiitiThued A CUlTent year 12 months and prior year 12 months combÈned net inovement in funds, included in the above are as follows., Incomin i'esources Re50urce5 expended Movement in fun(Is Unrestrleted funds Uni'estricled Amcri¢an li'eland Fund 21,535 24,993 (46,440) (24,993) {24,905) 46.528 (71,433) (24.905) Restricted funds Siiihinei. reading progran)me DOFA Adinin post DOFA DOFA Rent Poetry Comi)elition Siiinniei. Reading Project 2023 Halifax Gi'ant 10,206 8,358 2,473 16,059 15,000 3,000 (10,206) (8,358) (2,473) {16,059) (15,000) (3,000) 55,096 (55,096) TOTAL FUNDS 101,624 (126,529) (24,905) ii. RELATED PARTY DISCLOSURES There were no related party transaelions t.or the ye8r ended 31 August 2023. 12