Company Reglstratlon Number . N1665237 8oomhall Trust Flnanclal Slatam•n18 and Tru8laa8' R•port lor th• y•ar anded 31 Oclober 2022
Boomhall Trugt Company Ilmited by guaranto0 Legal and Admlnlstratlve Infomiatlon Statu• . The organisation is a charitable company Ilmited by guarantee, incorporated on 21 Ociober 2019 and is recognised as a charity by the Northern Ireland Charity Commission and HM Revenue & Customs. The governing document is a Memorandum and Articles of Association. Dlroctor• James Sammon (Chairperson) Marie Donaghy Matthew Foster Karen Latimer Bartholomew O'Donnell Desmond Reid (Treasurer) Pauline Ross Alistair Rowan James Simpson Primrose Wilson Cormac McKeone (appt 0710312022) Accountant• . Fergus McAteer & Co Chartered Accountants 31133 Clarendon Street Derry BT48 7ER Maln Banker• . Danske 8ank Donegall Square West Betfast Regl8ter•d Offlce . 35 Clarendon Street Derry BT48 7ER HMRC Charlty Referenc• Number . ZD07255 Company Numb•r . N1865237 Charlty Comml$8lon for Northern Ireland Number: NIC 107978 Page 1
Boomhall Trust Company Ilmlted by guarantee Conlents Page Legal and Adminislrative Information Trustees Report Independent Examiner's Fleport Statement of Financial Activities lor the year ended 31 October 2022 Balance Sheet as at 31 October 2022 9-10 Notes to th8 Accounts
Boomhall Trust Tru8tee8' Annual Report for the year ended 31 Octobor 2022 Report of the tru8ta•8 for the year ended 31 October 2022 The directors are pleased lo presenl their annu81 report together with the financial statements of the Charity for the year ended 31 October 2022 which are also prepared to meet the requirements for a D1ctOrS, report 8nd 8ccounts for Companies Act purposes. The financial statements compty with the Charities Act INI) 2008. the Charities (Accounts and Reports} Regulations (NII 2015, Companies Act 2006, the Memorandurn and Articles of Association, and Accounting and Reporting by Charities. Statement of Recommended Practise applicable to charities prepanng their accounts in accordance with the Finanaal Reporting Slandard applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 2019.} Dlrectorn and tru•te The directors of the charitable company (the charity) are the trustees for the purposes of charity law. The trustee8 during the year and at 31 October 2022 were as follows.. James Sammon Ichairpersonl Mane Donaghy Matthew Foster Karen Latimer Bartholomew O'Donnell Cormac McKeone (appt 07103120221 Desmond Reid (Treasurer) Paulin8 Ross Ali8tair Rowan James Simpson Primrose Wilson ChalV8 r•port l am delighted to present the Chair's report at our second AGM. We have made progress on many fronts since our launch and our achievements are set out elsewhere. Our purpo808 and actlvltlo• The company's objects are specifically restricted to the following,, {al to restore, preserve. conserve and maintain the built and natural environment of the Boomhall Estate and its surrounding landscapes to internationally recognised standards of conseNation. By protecting the historical, environmental, cultural, archaeological and aesthetic slgnifican¢e of the place, the charity intends to make its heritage accessible for the use, enjoyment, wellbeing, education and inspiration of present and future generations., (bl to advance 8rts, culture and heritage by organislng activities and events at the Boomhall Estste and lo educate the public conceming the historic and cultural herf(age of the Estate, the archaeological and environmental significance of its buildings and landscapes and the conservation of built and natural environments generally., (cl to provide. or assist in the provision of facilities within the Boomhall Estate and its surroundings for recrgation and other leisure time oc¢upalion, in a manner in keeping with the aim of conservlng the Estate and its surroundings commensurate with lal above, in the Interests of social welfare, with the objects of improving the conditions of life of local communities and the public at lar9e Pago 3
Boomhall Trust Trustees, Annual Report for Iho year ended 31 October 2022 Achlevement3 and performance Our inaugural Board Meeting was held on 7th October 2019 and since then we have raised awareness of our vision to restore the estate at Boomhall foi community benefit and we have prepared ourselves lo make that vlsion a reality, Flnanclal roviow During the year income of £5,356 was received 131st Ocl 2021 £7,067) and costs of £7,417 were incurred 131st Ocl 2021 £7,591} 1018ave a deliclt 01 £2,061 131 st Oct 2021 £5241. The reseNes al the end of the year were £705131 st Oct 2021 £2,786) of which £472 are unrestricted and £233 ar8 restric18d. The Trustees were pleased with the results for the year. R•8•rvo8 pollcy and golng concern Reserves are needed to bridge the gap between the spending and receiving of incom8 and to cover unplanned emergency costs. Due to the nature ol Charity, no activities are started or costs incurred until funds are secured from members. The Truslees consider that only nominal reserves are necessary to meet future costs. Plan8 lor fuluro perlods We continue to develop our business Flan. Stalement ol iruslees responslbllltleg The charily trustees (who are also the directors ol the Boomhall Trusl for the purposes ol company lawl are responsible for preparing a Iruslees, annual report and financial statements in accordance with applicable law and United Kinodom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. Company law requires the trustees to prepare financial slalements for each financial year which give a true and fair view of the state ol affairs of ihe charitable company and of the protit or loss ol the company for that year. In preparing these the Iruslees are required to: select suitable accounting policies and apply them consistently., make judgements that are reasonable and prudent- observe the methods and principles in the Charities SORP., slate whelhef applicable UK Accounling Standards have been followed, subjecl lo any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concein basis unless it is inappropriale to presume that the organisalion will continue in business. The irusle8s are rgsponsible lor keeping proper accounting records which disclose with reasonable accuracy at any time Ihe financial position ol the company and to enable them to ensure that the linancial staiements comply wllh the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence lor taking reasonable steps lor the prevention and d81eclion of fraud and other irregularities. Small company provlslon8 Page 4
Boomhall Tru8t Trustees. Annual Report for the year ended 31 October 2022 This report has been prepared in accordance with the provisions applicable to companies entitled lo the companles exemption. These flnancial stalemenls were approved and authorised lor Issue on 6 March 2023 and slgned on Its behalf of the board by.. D•8mond R•ld {Treo•urer) Dlr•elor Page 5
Boomhall Trust Company Ilmlted by guarantee Independent Examlner'g Report to the Charlty TruJtea• of Boomhall Tru81 Year ended 31 October 2022 We report solely lo the charity trustees on our examlnation of the accounts for the period ended 31 Oclober 2022. To the fullesl extent permilted by law. we do not accepi or assum8 responsibility to anyone olher than Boomhall Trust and ils Iruslees as a body for our work or for this report. As a practising member film ol Chartered Accountants Ireland, we are subject to ils ethical and other professional requirements which are delailed at www.charteredaccounlanls.ie. Respecllve re8pon8lbllltl•8 ol charlty Iru•leo• and examlner As the charity Iruslees land also the directors ol the company lor the purposes of company lawl you are responsible lor Ihe preparation ol the accounts in accordance with the requirements ol the Companies Act 2006 and the CharSties Act (Northern Ireland) 2008, Havlng salislled ourselves Ihal the charlty is not sublecl lo an audit under company law, and is eligible for independent examination, it is our responsibility to,. exaffline the accounts under section 65 01 the Charities Acl. tollow the procedures lald down In general Dlr8Ctlons glven by th8 Charlty Commlsslon for Northern Ireland under section 65{9llbl ol the Charities Act. slate whether particular matters have come lo our attention. Ba•lg ol Independent examlner'• report We have examined your charity accounts as required under seclion 65 01 the Chaiilles Act and our examination was c8rri8d out in accordance wilh the general Directions given by ihe Charity Commission for Northern Ireland under section 6519llbl ol the Charities Act. The 6xaminaiion included a review of the accountlng records kept by the charity and a comparlson ol the accounls presented wlth those records, It also included consideration of any unusual items or disclosures in the accounls, and seeking 8xplanations from you as charlty trustees concerning any such Matters. Our role Is lo slate whether any malerial matters have come lo our attenllon giving us concern lo believe.. 1. that accounting records were not kept as required by section 386 01 the Companies Act 2006 and secllon 63 of the Charities Act., 2. that the accounts do not accord wlth those accounting records; 3. that the accounts do not comply wlth the accounting requirem8nts ol section 396 of the Companies Acl 2006, the Charities Act and wilh methods and principles ol the Charities Statement ol Recommended Praclise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic 01 Ireland. 4. that there is further information needed for a proper understanding ol Ihe accoun18 to be reached, Page 6
Boomhall Trust Company Ilmlted by guarantee Indendent Examlner's Report lo the Chartty Trustees ol Boomhall Trust Year ended 31 October 2022 Ind•pendonl Examlner'8 Statement We have completed our examination and have no concerns in respect ol the matlers11110141 above and. in connection with followlng the Directions ol the Charity Commission lor Northern Ireland, we have found no matters that require drawing lo your attention. J--Ae-A>< ¥ C Fergus McAleer Chartered Accountants 31133 Clarendon Street Derry BT48 7ER s cA TÈÈfy CHARTERED 0 6 MAR 2023 6 March 2023 APITS Page 7
Boomhall Tru81 Company Ilmlted by guaranlee Slatement of Flnan¢lal Actlvllle8 {Includlng In¢ome and expendllure account) lor the year ended 31 octo1r 2022 Unrestrlcted Restrlcled Funds Funds Total8 2022 Tot81s 2021 Notes Income and endowment8 Donations & legacies Income from charitable activities 105 5,251 105 5,251 7,067 Total Income 5,356 5,356 7,067 Expendllure Charltable aclivitles 7,417 7,417 7,591 Total expendllure 7,417 7,417 Net Income (2,0811 {2,0611 (5241 Net movement In lund3 (2,0611 12,061) (5241 Reconclllatlon of lunds Total funds brought lorward at l November 2021 2,533 233 2,766 3,290 Total funds carried tornard al 31 Ocl¢)ber 2022 472 233 705 2.766 The statement ol financial aclivities includes all gains and losses regnised in the year. All income and expendilure derive from continulng actlvilles Page 8
Boomhall Tru81 Company Ilmlled by guarantee Balan¢6 Sheet ag at 31 Oclober 2022 Unrestrlcted Restrlcled Funds Funds Totalg 2022 Tot81s 2021 Nota* Debtors Cash at bank and in hand Total current agsets 1,170 7.780 8.950 1.170 8,013 9.183 3,200 11,130 14,330 233 Credltors: amounls falllng due wlthln one year 10 (3,2831 (3,283) 14,4031 Nel current assetg 5,667 233 5,900 9,927 Total assets less current Ilabllltl83 5,667 233 5,900 9,927 Credltors: amounls lalllng due after one year 11 15,1951 15,1951 (7,1611 Nat assets 472 233 705 2,766 Ithe Restricted funds Unrestricted funds 233 233 472 472 2,766 Funds 12 472 233 705 2,766 For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Acl 2006 relating to small companies. Directors r8StKsnslbilllies'. Tho members have not required the company lo oblain an audil of its financial stalemenls lor the year in queslion in accordance with section 476; The directors acknowledge theii responsibilities for complying with the requirements ol the Act wilh respect to accounting records and Ihe preparation ol financial statements. These flnancial slatemenls have been prepared in accordance with the provisions applicable lo companies subject lo the small companies. regime and in accordance with FRS 102 'The Financial Reporting Standard appliGable in the UK and Republic of Ireland,, Page 9
Boomhall Trusl Company Ilmlled by guarant•e These financial statements were approved by the board ol directors and authorised for issue on 6 March 2023, and are signed on behalf of th& board by; Desmond Reld (Trea8urer) Dlrector Company Regl8tfallon Numbor . N1665237 Paga 10
Boomhall Tru81 Company Ilmlted by guarantee Notes to the Ilnanclal statements Year ended 31 October 2022 General Informatlon The charity is a public benefit entiiy and a private company limited by guaranlee, regislered In Northern Ireland and a ragistered charity in Northern Ireland, The address of the registered offlce is 35 Clarendon Street. Derry, BT48 7ER. Aceountlng pollclo• Ba•18 of preparollon and Slatem?nl ot compllanco The Ilnanclal slalements have been prepared In accordance with Accounting and Reportlng by Charities- Statement ol R8commended Practice applicabl8 lo charities preparlng their accounts in accordance wilh the Financial Reporting Slandard applicable in the UK and Republic ol Ireland IFRS 1021 lelfgclive 1 January 20191 (Charitles SORP {FRS 10211, the Flnanclal Reportlng standard applicable in th8 UK and Flepublic ol Ireland IFRS 102) and the Companles Act 2006, 8oornhall Trust meets the dellnition ot a public benelll enllty under FFIS 102. Assets and liabilllies are inilially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy nolels). The financial statements are prepared in sterling, which 1$ the functional currency ot the entlty. Golng concern There are no material uncertainlSes about the charity's ablllty to continue. Income Turnover represents the lolal value ol grants received and receivable as well as other income arising Irom donations during the year. Grants are recogniseo in the Profil and Loss account when the conditions lor thelr receipt have been complied with and there is reasonable assurance that the grant wlll be recelved. Governrnont and other grant8 Income from government and other grants, whether 'capllal' grant8 or 'revenue' grants, Is recognlsed when the charity has entillemenl lo the funds, any performance conditlons attached lo the grants have been mel, il is probable that the income will be received and the amount can be measured reliably and Is not deferred Expendlture Expenditure is recognised on an accruals basis as a liability is Incurred. Expondilure includes any VAT which cannot be lully recovered. and is classified under headings of the statement ol financial aclivlties to which il relates: expenditure on charitable activities includes all costs incLJrred by a charity in undertaking activities that further 113 charitable aims lor the benefit ol its beneficiari6s. including those support costs and costs relaiing to lh8 governance ol Iho charlty apportlonod to chariiabl8 aciivltlgs. All costs are allocated to expendllure categories reflecting the use ol Ihe resource. Direct costs attributable to a single activity are allocated directly io that activity. Shared cosls are apportioned between Ihe aclivili8s they contribule to on a reasonable, justifiable and consistent basis. Pag811
Boomhall Trust Company Ilmlled by guarantee Notès to the flnanclal statements (conllnued) Year ended 31 October 2022 Taxatlon During the currenl year the company has only been involved in charitable activities in furtherance ol its charitable objecls and is not liable lo Income Tax or Corporation Tax. Flnanelal Instrument8 A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provislons of the instrument, Basic financial instruments are initially recognised at the Iransaction price, unless the arrangement conslitules a financing transaction, where il is recognised al the present value ol the future payments discounted at a markel rate ol interest for a similar debt instrument. Llmlled by guarantee Boomhall Trusl is a registered charity limited by guaranlee without a share capital. Charrty Cofflmission ol Nl Number: NIC 107978 HMRC Charity Reference Number.. ZD07255 Funds Unreslricled Revenue Funds - comprise those revenuo funds which the trustees are free to use in accordance with the company objectives. Restricled Revenue Funds - comprise those revenue lunds which have been given for particular purposes and projects. Unrestricted Capital Funds . comprise Ihose nel assets which the Irusl is able lo apply freely in pursuil of ils own charitable objectives and related purposes. Restricted Capilal Funds - comprise those net assets which al the end of the accounling period have specific grant and other conditions restricting either their use or their disFK)sability for defined periods. Pago 12
Boomhall Trust Company Ilmlted by guarantee Notes lo the flnanclal slatements (contlnued) Year ended 31 October 2022 5. Income Unrestrlrted Restrlcled Funds Funds Total 2022 Total 2021 Donatlon8 and legaclog Donations 105 105 Tolal 105 105 Income from charltable actlvltles Sale ol trees The Archileclural Heritag8 Fund Pilgrim Trust Govefnment granl Iloan interest) Total 631 631 3,900 3,000 167 4,620 4,620 5,251 6. Exp8ndlture UrestrICt Funds Reslrlcted Fund8 Total 2022 Total 2021 Ex Actlvltles undertaken dlrectly Branding an6 survey 2,550 2.550 2.550 2,550 Support costs Accountancy fees Bank charges General expenses Bank interest paid Consultancy fees 575 129 575 129 420 92 69 343 6,667 7,591 163 4,000 4,867 163 4,000 4,867 Total 7.417 7,417 7.591 Page 13
Boomhall Tru8t Company Ilmlted by guarantee Notes lo the flnanclal statements (contlnued) Year ended 31 Oclober 2022 Independent examlner8 remunerallon 2022 2021 Fees payable for Ihe Independent examination of the financial slalemenls 550 500 Staff Costs The averaoe number ol persons employed by the company durlng the year amounted to Nll12021 '. Nil), There were no persons employed by the charity durlng ihe perlod. No remuneration was pald and no expenses were reimbursed to the trustees durlng the period. The Iruslees are the key management p8rsonnel ol the enlity. Deblor8 2022 2021 Trade debtors Olher debtors 1,170 3,000 200 1,170 3,200 10. Credltorj: amoun18 falllng du• wlthln one y•ar 2022 2021 Bank loans and overdrafts Trade creditors Accruals and deferred Income Olhei credltors 2,128 2,128 600 550 605 1,175 3,283 3,903 Crodltorj: amounts falllng due after mor• thon one year 2022 2021 Bank loans and overdralls 5,195 7,161 Page 14
8oomhall Tru$1 Company Ilmlled by guarantee Notes to Ihe flnanclal Statements (conllnued) Year ended 31 October 2022 12. Analy818 ol charltable lund8 Analys18 of movements In unr88trlcted lundi Balance at IncomlngRe8our¢es Fund• at 18t Nov '21 Rewur¢•• Expended Tran•ler• 318t Oct '22 General Fund 2,533 5,356 (7,4171 472 2,533 5,356 {7,4171 472 Name ol re8lrlcted fund G8n8ral Funds De8crlpiion ol Iho Fund Funds which lh8 Trust is able to apply freely in pursLJit of Its own charitable objeclives and related purposes. Analy81• of movementg In rulrlcted lund• Balance al IneomlngRo8ourc09 1st Nov .21 Resources Expended Tran8ler8 Funds al 3181 Ocl .22 Restricted Fund 233 233 233 233 Nam• of r081rlcted fund Reslricied Fund D88crlpllon ol lh• Fund Funds whlch the Trust applies for partlcular purposes and projects In pursuit of ils charltable objectives Analy818 of not 8g9•18 between lunds General Reslrlcted Fund Fund 7.780 233 1,170 13,2831 15,1951 Total 8,013 1,170 {3,2831 15,1951 Cash at bank and in hand Other current assets Cufrenl liabilities Long term liabilities Total 472 233 705 Page 15
8oomhall Trust Company Ilmllod by guaranioe Notes to the flnanclal statements (contlnued) Year ended 31 October 2022 13. Related party trnn88Ctlon8 During the year the company enter8d into the following Iransactions wilh relaled parties: Transaction value 2022 Balance owed by/{owed lol 2022 2021 2021 Trustees (Loan) Trustees (Donations) 1,170 1.170 Page 16