REGISTERED COMPANY NUMBER: N16476J5 (Northern Ireland) REGISTERED CHAIUTY NUMBER: 107956 Report of the Ti'ustees and Unaudited Financial Statements for the Year Ended 31 August 2024 for The Gollath Trust M.B.McGI'ady & Co Chartered Accoiiiilaiits Sllile 2B Cadogaii House 322 Lisbui'n Road Belfast Co. Anlrim BT9 6GH
The Goliath Trust Contents of the Flnancial Statements for the Year Ended 3J August 2024 Page Report of the Ti'ustees Independent Examlne) sReport Statement of Finaiicial Aetivitles Balonce Sheet Notes to the Flnancial Statement5 7 to 13
The Goliath Trust Report of the Trustees for the Year Ended 31 August 2024 The Iruslees who are also directors of Ilie charity for Ilie purposes of Ihe Companies Act 2006. present their report willi Il)e financial slateinents of tlie charity foi. Il)e year ended 31 August 2024. The trustecs liave adopted tlie provisions of Accounting and Reporting by Cliai'ities- Statement of Recommended Pi'aclice applicable to cliai'ities prepai'ing Il)eir accounts in aecordancc with the Financial Reporting Standard applicablc in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objeetlves and aims The chai'ity's mission statement is as follows= "To raise fiinds to provide targeted extra financial support foi. pi'imary schools serving disadvantaged communities in Belfast, in order that ediicational oiilconies in those schools aiE significantly impi'oved" Thc key strategic objectives set for the year are: l. To eiicourage piipils, teachers and pareiils to aspire individiially and collcctively to impiDved educational achievement and better ediicati0s)al oiitcomes so that life cali be beltei. for those who aye cun'cntly disadvantaged. 2. To work with school prii)cipals and teachers to motivate piipils lo iinprove school attendance and lo spoi)sor school- based reward scl)emes for Ihc piipils with high levels of atteiidai)ce. 3. To provide additioiial, specialist trainii)g for teachers, in order to maximise the use of all the available, Icchiiology and digital devices. so as to iinprove the education ofpupils in a i'aiige of l.T. skills. 4. To oi'ganise nieelings, workshops and seniinars where teachei's from schools in disadvantaged ai'eas corne together to discuss the challenges Il)al they face and shal'e best practice in finding solutions to the problenis ai)d issues that they face. 5. To provide, assistance, in terms of small aniounls of finance both lo set up and to suslaiii parent engagement inili&lives in scliools where appropriate 6. To provide assistance in in lerins of sinall aii)ount.s of finance boil) to set up and lo sustain special nurtre units in scliools tliat have identified Il)eni as A need. 7. To continue to work with educatoi's ift disadvantaged neigl)bourhoods in Belfast lo find ways to improve circuinslances and enliance Il)e personal developn)ent of Ilie pupils undei. their cai'e. FINANCIAL REVIEW PI'iiicip21 funding sources Tlie principal llding soui'ce of Ilie cliai'ity is Il)rougli donations froin individuals and businesses who supporl our objectives. Reserves policy The In]slees have exaniined the cliarity's requireinenls for I'eserves in liglit of the inain i'isks lo the organisalion. l)as cslablislied a policy wl)ereby tlie uni'estricted fiinds not COinn)itled oi. invested in tangible fixed assets lield by the cl)arity should be between 3- and 6-Inontlis expenditui'e. FUTURE PLANS Tl)e cliarity is coinimitled to the continiied pi'ovision of current Services and suppoit to primary scliools, siibjecl to satisfactory ndIng aiThngemei)Is.
The Goliath Trust Report of the Trustees for the Year Ended 31 August 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Tl)e chai'ity is controlled by ils governing docunieiil. a deed of Injsl, and constitut¢s a limited coinpany, limited by guarantee, as defiiied by the Companies Act 2006. The organisation is a cliarilable conipany limited by guarai)tee, incorporated on 25111 August 2017. The coinpany was eslablislied ui)der a Menioi'anduni of Association which established the objects and powers of the cliarilable coinpaiiy and is governed under ils Articles of Association. The Menioi'andiirn lists the company's objects as the advancenient of community development for the public benefit in Education, in particular but not exclusively by any or all of the following ineans.. (i) siipporting and developing the woi'k of school principals, teacliers and parents Ihrougli cl)aiitable activity wl)icli seeks to improve the qiiality of life of thc citizens of the area of benefit- (li) Raising educatioi)al outcome expectations in both pupils and parents. (iii) Building Iniittially beneficial liiikages betweeii donor coinpanies and recipient schools. (iv) Increasit)g the knowledge aiid l.T. capacity of individiial citizens giowiiig lip in disadva111aged communities. In the eveiil of the conipaThy being wound up members are required to contribute an amount not exceeding £1. Recruitment and appointment of neiv trustees The direclois of the compaiiy al'e also charity trustees foi. the purpose of charity law aiid undei. the compaiiy's articles of association sh211 n)anage the business of the coinpany and exercise all powers of the company. Ai each anniial genei'al nieeting on¢ third of Ihe directors retii'e by i'otation. Due to the natui'e of Ihe charity's woi'k the tNstees seek to ensiii'e that the needs of the conll7n1ty al'e appi'opi'iately reflected througli the divei'sity of tiustees. To enhance this, liustees are sougl)t wlio can denionstrale interest and undei'slanding of tlie charity's work. Oi'ganisational structure Tlie Cl)arity is nianaged by a voluntary board of inembei's. Tlie board oversees the Cljarity through a general mai)ager who lias designated iesponsibility for ils day lo day operational ft)anagenient, iiidividual siipervision of staff wliei'e appropriate and ensiiring that Ilie teani continues lo develop tlieir skills and working performance in line will) good practice. Tlie finaiicial aspect of the charity is managed by the cliai'ity's finance conmiillee wliose n¢t10n is to nionilor and repoi'l lo Ilie board lo enable it to Jiiake infornied fijnding decisions foi. the charity not only for tlie present bul also iii ensuiing ils objeclivcs arc suslaiiied going fonvard. Related parties There are no related parties iviihin the financial year under review. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company nuniber N1647635 (Noi'thern Ireland) Registered Charity number 107956
The Goliath Trust Report of the Trustees for the Yeai. Ended 31 August 2024 Registei'ed office St Mark's Rectory 119 Ligoniel Road Belfast Co. Anlrim BT14 8DN Trustee5 The Ri Rev A F Abernethy Retired Bisl)oplCI)air R T Hayden Piiblic AffaiYs/ PR Consultant ITreasiirer Di. A McDonnell Retired GP, Politicianlvice Chair Lady D Trimble Retiredlvice Chair Ms M D McDonald Rctiird P Crawford Head Of Crealive Leaining, Lyiic Theali'e Ms T Galvin Education Developer Mrs M E Madden Retired Ms S Scott Teachei. R A Diinlop Retired J J M O'Boyle Teacher MS V Parr Teachei. M Shamia Coinpany Director (appoiiited 11712024) Independent Eyaniiner M.B.McGrady & Co Chartered Accounlanls Siiile 2B Cadogan House 322 Lisburn Road Belfast Co. Anlrini BT9 6GH Banker5 Danske B8mk Solicitors Macaulay Ritchie Solicitors I l Talbot Sii'eet Belfast BTI 2LD Approved by oi'dei" of the board of trustees on 21, May 2025 and signed on ils bel)alf by: The Rt Rev A F Abernetliy- Tistee
Independent ExAmlner's Report to the Trustees of The Goliath Trust I report on tlie accounts of Ilie compaiiy for the year ended 31 Au¥ust 2024, wl)icl) are set out on pages five lo thirteen. Respective responsibilities of charity trustees and examiner As the cl)arity's Iruslees (and also Ilie directors for the purposes of company law) you are I'esponsible for the prepai'ation of the accounls in accordance with the requirenients of Ilie Coinpanies Act 2006. Having satisfied Inyself Iliat Ilie cliarity is not subject lo audit under coinpany law and is eligible for independent examination, it is Iny responsibility lo.. exaiiiine Ilie accounts linder Section 65 of the Cl)arities Act follow the procedures laid down in the general Directions given by the Charity Cominission for Northern Ireland undei. Section 65{9)(b) of tl)e Cliarities Act stale whether particulai. matters have come lo my atlcntion. Basi5 of the Independent exAmlnei s report I have examined your charity accoiints as reqiiired linder Section 65 of the Charities Act and my examination was Caled out in accordance witl) tl)e general Diiections given by the Cliarity Commission for Noriliem Ireland under Section 65(9)(b) of the Charities Acl. The examination included a review of the accoiinting I'ecords kept by the charity and a comparison of the aecoiints presented with Iliose records. It also incliided considei'ation of any iiniisual items or disclosiii'es in the aecoiints, and seeking explaiiations from you as charity IrLislees conceming ai)y such Inatlers. My role is to slate whether aiiy mateiial matters h&ve come to my attention giving rne cause lo believe.. That accounting I'ecords were iiot kept in accordance with Section 386 of the Companies Act 2006 That the accoiii)Is do not accord with those accoiintii)g i'ecords That the accoiiiits do iiot comply willi the accoiiiitiiig reqiiiremenls of Section 396 of the Coinpanies Act 2006 and with the methods and principles of the Chai"ities StaleJnenl of Recommended Practice applicable to chai'ities preparing their accounts in accoi'dance wiih the Financial Reporting Standard applicable in the UK and Republic of Ireland That there is rther infonnalion needed for a pi'oper urndei'slanding of the accounts to be l'eached. Independent examlner's statement I have completed my exaniinalion and have no concerns in i'espect of the mallers (l) to {4) listed above and, in connection iiTith following the Dii'ections of the Chai'ity Cominission foi. Noi'ihern Ireland, I l)ave found no inallers that require drawing to your attention. Conaill MCG M.B.McGrady & Co Cliarlered Accounlaiils Suitc 2B Cadogan Hoiise 322 Lisbum Road Belfast Co. Antrin) BT9 6GH Date..
The Goliath Trust Statement of Financial Activities for the Year Ended 31 August 2024 3J18124 Total funds 3118123 Total funds Unrestricted funds Restricted funds Note5 INCOME AND ENDOWMENTS FROM Donations and legacies 6,729 34,101 40,830 58,667 EXPENDITURE ON Rai8ing funds 1,740 1,746 1,611 Charitable aetivities Cliaritable activity 13,168 12,436 2S,604 66,129 Otl)er 2,775 1,335 4,110 1,751 Total 17,683 13,777 31,460 69,491 NET INCOMEI(EXPENDITURE) (10,954} 20J24 9,370 (10,824) RECONCILIATION OF FUIYDS Total fi]nds brouglit fonvard 19,719 19,719 30,543 TOTAL FUNDS CARRIED FORWARD 8,765 20,324 29,089 19,719 Tlie J)oles foi'm parl of Iliese financial statenients
The Gollath Trust BalaJ)ce Sheet 31 August 2024 3118124 3118123 Note5 CURRENT ASSETS Cash at bank 29,467 20.019 CREDITORS Ainounls falling due wiil)in one year (378) (300) NET CURREIYT ASSETS 29,089 19,719 TOT AL ASSETS LESS CURRENT LIABILITIES 29,089 19,719 NET ASSETS 29,089 19,719 FUNDS UniEsti'ictcd fvnds.. Unrestricted Restricted funds 10 8,765 20,324 19,719 TOTAL FUNDS 29,089 19,719 The charitable company is entitlcd to exemption froni aiidit under Section 477 of the Conipanies Act 2006 for the year ended 31 Aiigiisl 2024. The members have not reqiiired the company to obtain an aiidit of ils financial slatenients foi. the yeai. ended 31 Aiigiist 2024 in accordance with Section 476 of the Companies Act 2006. The Ituslees acknowledge their responsibilities for (a) ensuring that the eharilable conipany keeps accounting records that coinply with Sections 386 and 387 of the Conipanies Act 2006 and pi'epai'ing financial statements which give a true and fair view of the stalc of affairs of the chai'itable company as al the end of each financial yeai. and of ils surpliis oi. deficit foi. eacli financial year in accordance with the requii'eni¢nts of Sections 394 and 395 and which otheThvise comply with tlie requirenienls of the Conipanies Act 2006 relating to financial slatenients, so far as applicable lo the charitable compaiiy. (b) Tliese financial slatenients have been prepared in accoi'dance with the provisioiis applicable lo cliaritable ¢onipanies subject to Ilie small con)panies regime. Tlie financial statements were appi'oved by tlie Boai'd of Trustees and autliorised for issu¢ 21 May 2025 and were signed on ils belialf by: on A F Abernethy- Tru5te¢ The notes form part of these fiiianeial slatenienls
The Goliath Trust Notes to the Flnancial Statements for the Year Ended31 August 2024 ACCOUNTING POLICIES Basis of pi'eparing the financial statements The financial slateinenls of the cl)aritable conipany, wliicli is a public benefil entity under FRS 102, liave been prepai'ed ii) accordance with the Cliarities SORP {FRS 102) 'Accounting and Repoi'¢ing by Charities.. Sialeinent of Recominended Pi'acticc applicable lo charities prepai'ing IheiT accounts in accoi'dance witl) tlie Financial Reporting Standard applicable in Ihe UK and Republic of Iirland (FRS 102) {effeclive l Januaiy 2019),, Financial Reporting Siandai'd 102 'The Finaiicial Reporting Siandard applicable in the UK and Republic of Iieland, and t]ie Coinpanies Act 2006. The financial statements l)ave been prepared under Ilic histoi'ical cost convention. Flnanclal i'epoi'tlntr staiidard 102 reduced disclosure exemptlons The charitable company has taken advantage of the following disclosure exemption in pi'eparing these financial statements. as pemiitted by FRS 102 'The Financial Reporling Standard applicable in the UK and Republic of Ircland,: the reqiiirements of Section 7 Staternciit of Cash Flows. lilcome & endowments All incole is recognised in the Statenient of Financial Activities once the charity has entitlement to the fiinds, it is probable that the income will be received and the amount can be measiired reliably. EXpendire Liabilities al'e recognised as expenditure as soon as Iliere is a legal or constiiictive obligation coniniitling the chai'ity to that expenditure, il is pi'obable Iliat a Iransfei. of econon)ic benefits will be required in seiilenienl and the ainount of the obligation can be nieasured reliably. Expenditure is accounted foi. on an accruals basis and has beeii classified under headings that aggregate all cost i'elaled lo the categoiy. Where costs cannot be dii'ectly atli'ibuted to particular headings they have been allocated lo activities on a basis consistent with the use of i'esources. Tax2tion The charity is exempt froni corporation lax on ils eliarilable activities. Fund accounting Unrestricted funds can be used in accordance witli Ilie cliarilable objectives at Ilie discretion of Ilie livslees. Resli'icted funds can only be used for particular reslricled purposes wiiliin tl)e objects of the charity. Resli'iccions arise when specified by the donoi. or wlien funds are raised for particular i'esli'scled purposes. Further explanation of the nature and purpose of each fund is included in the notes to 11)e financial stateinents. continued...
The Goliath Trust Notes to the Financial Statements - continued foy the Year EJ)ded 31 August 2024 DONATIONS AND LEGACIES 3118124 3118123 Donations Gi'ants S,229 35,601 4,499 54,168 40,830 58,667 Grants received, included in Ilie above, are as follows= 3118124 3118123 Irisli Amei'ican Partne1p Sumniei. Reading Project 2023 Halifax Irish Aiiieriean Partnei'ship 2024 Otlier giants 24,993 15,000 3,000 15,000 19,101 I,soo 11,175 35,601 54,168 RAISING FUNDS R8islng donations aiid legacles 3118124 3118123 PL)blicity materials Ti'avel & siibsistence Support costs 320 660 631 1,746 1,746 1.611 CHARITABLE ACTIVITIES COSTS Support eosts (see note 5) Direct Costs Totals Chai'itable activity 25,526 78 25,604 contiiiued...
The Goliath Trust Notes to the Financial Statements- continued for the Year Ended 31 August 2024 SUPPORT COSTS Governance costs Management Fiilante Tot21s Raising donations and legacies Charitable activity 1,291 69 386 78 1,746 78 1,291 69 464 1,824 TRUSTEES, REMUNERATION AND BENEFITS There were no Iruslces, reinuneralion or oilier benefits for the year ended 31 August 2024 nor for Il)e year ended 31 August 2023. Trustees, eipense5 There wei'e no 31 Aiigust 2023. liustees, expenses paid for the year ended 31 August 2024 nor foi. the year ended COMPARATIVES FOR THE ST ATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Resh'icted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 40,667 18,000 58,667 EXPENDITURE ON Raising ftinds Charitable activltles Chai'itable activity 44,087 22.042 66,129 Other 1,751 1,751 Total 47,449 22,042 69,491 NET INCOMEI(EXPENDITURE) (6.782) (4,042) (10,824) RECONCILIATION OF FUNDS Total ttds brought foiwaid 26,501 4,042 30.543 TOTAL FUNDS CARRIED FORWARD 19,719 19,719 contiiiued.-.
The Goliath Ti'ust Notes to the Flnanclal Statements- continued for the Year Ended 31 August 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONEYEAR 3118124 3118123 Accruals and deferred inconie 378 300 ANALYSIS OF NET ASSETS BETWEEN FUNDS 3118124 Total fund5 3118123 Total funds Unrestricted funds Restricted funds Ciii'i'ent assets Currei)É liabilities 9,143 (378) 20,324 29,467 (378) 20,019 (300) 8,765 20?24 29,089 19,719 io. MOVEMEIYT IN FUNDS Net movement in funds At 3118124 At 119123 Uni-estricted funds Unrestricted 19,719 (10,954) 8,765 Restricted funds Summei. Reading Piojeet 2023 li'isli Ainerican Partnersl)ip May 2024 1,223 19,101 1,223 19,101 20,324 20,324 TOTAL FUNDS 19,719 9,370 29,089 Nel movement in fiinds, incliided in the above are as ft)Ilows'. Incomlng i'esoui'ce5 Resource5 expended Movement li) funds Unl'estricted funds Unrestricted 6,729 (17,683) (10,954) Restricted fuiids Suinniei. Reading Pi'oject 2023 'ish Aniei'icaii Partnei'sliip May 2024 15,000 19,101 (13,777) 1,223 19,101 34,101 (13,7771 20J24 TOTAL FUNDS 40,830 (31,460) 9,370 10 conliiiued...
The Goliath Trust Notes to the Financial Statements- continued for the Yeai. Ended 31 August 2024 io. MOVEMEwf IN FUNDS- continued Cornparatlves for movement in funds Net movement in funds At 3118123 At 119122 Uni'estricted funds Unrestricted 26,501 (6,782) 19,719 Restricted funds DOFA Rent Poetry Competition 2,473 1,569 (2,473) (1,569) 4,042 (4,042) TOTAL FUNDS 30,543 {10,824) 19,719 Compai'ative nel movenient in fiinds. incliided in the above are as follows- Ineomlng resoui'ces Resoui'ce5 expended Movement in funds Unrestrlcted funds Uni'esti'icted American Ireland Flind 15,674 24,993 (22,456) (24,993) (6,782) 40,667 (47,449) {6,782) Resti'icted funds DOFA Renl Poetry Competition Suinmei. Reading Project 2023 Halifax Grant (2,473) (1,569) (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) contiiiued...
The Goliath Trust Notes to the Financial Statements- contlnued for the Year Ended 31 August 2024 io. MOVEMENT IN FUNDS- contlnued A currcnt year 12 Inonths and prior year 12 months conibined position is as follows.. Net movement in funds At 3118124 At 119122 Unrestricted funds Uiirestricted 26,501 (17,736) 8,765 Restricted funds DOFA Rent Poetry Coinpetition Sumniei. Reading Project 2023 Irisli Ainerican Parlnersl)ip May 2024 2,473 1,569 (2,473) (1,569) 1,223 19,101 1,223 19,101 4,042 16,282 20,324 TOTAL FUNDS 30,543 (1,454) 29,089 A ciin'enl yeai. 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expeiided Movemeilt ii) fuiids Uiirestrleted funds Uiii'eslricled American li'eland Fund 22,403 24,993 (40,139) (24,993) {17,736) 47,396 (65,132) (17.736) Restricted funds DOFA Rent Poetry Competition Suintiiei. Reading Pi'oject 2023 li'isl) Americaii Parlnei'sl)ip May 2024 (2,473) (1,569) (28,777) (2,473) (1,569) 1,223 19.101 30,000 19,101 49.101 {32,819) 16,282 TOTAL FUNDS 99,497 (100,951) (1,454) 12 conliiiued...
The Goliath Ti'ust Notes to the Financial Statements- eontlnued foi. tlie Year Ended 31 August 2024 ii. RELATED PARTY DISCLOSURES There werc no related parly transactions for the year ended 31 August 2024. 13