Company Reglstratlon Number . N1665237 Boomhall Trusl Flnanclal Statements and Tru810os' Report for Ihe year ended 31 October 2023
Boomhall Tru8t Company Ilmlted by guaranloe Conlenl8 Pago Legal and Administrative Information Trustees Report Independent Examinef's Report Statement of Financlal Activities for the year ended 31 October 2023 Balance Sheet as al 31 October 2023 Notes to the Accounts 10-15
Boomhall Tru8t Company Ilmlted by guarantee Legal end Admlnl3tratlvo Informallon Stalus The organisalion is a charitable company limited by guarante8, incorporaled on 21 October 2019 and is recognised as a chartty by the Northern Ireland Charity Commission and HM Revenue & Customs. The governing document is a Memorandum and Articles of Associalion. Dlrectorn '. James Sammon IChairp6rsonl Marie Donaghy Matthew Foster Karen Lalimer Bartholomew O'Donnell Desmond Reid (Treasurer) Pauline Ross Alislair Rowan James Simpson Primrose Wilson Cormac McKeon8 Patrick Cregg Accountants . Fergus McAteer & Co Chartered Accounlanls 31133 Clarendon Streel Darry BT48 7ER Maln Bankers . Danske Bank Donegall Square West Bellast Reg18tered Ofllce . 35 Clar8ndon Slre&l Derry BT48 7ER HMRC Charfty Reference Number . ZD07255 Company Number . N1665237 Charlly Commlsslon lor Northern Ireland Number: NIC 107978 Page 1
Boomhall Trust Truste•s' Annual Report for the year ended 31 October 2023 Report ol the trustee8 lor the yeor ended 31 Octobar 2023 The directors are pleased lo present their annual report logelher wilh the financial statements ol the Charity for the year ended 31 October 2023 which are also prepared lo meet tha requirements for a Directors, report and accounts lor Companies Act purposes. The financial statements comply with the Charities Act INI) 2008, the Charities (Accounts and Reports) Regulations INI) 2015. Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Praclise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021 (effective 1 January 2019.1 Dlrectors and truslees The directors ol the charitable company (the charity) are the trustees for the purposes ol charity law. The trustees during the year and at 31 O¢tob6r 2023 were as lollows.. James Sammon IChairperson} Marie Donaghy Matthew Foster Karen Latimer Bartholomew O'Donnell Cormac McKeone Desmond Reid (Treasurer) Pauline Ross Alistair Flowan James Simpson Primros8 Wilson Patrick Cregg Chalr's report l am delighted to present the Chairfs report al our fourth AGM. We have made progress on many fronts since our launch and our achievernenls are sel out elsewhere. Our purp08e8 and actlvlllos The company's objacls are specifically restricted to the following: (al to restore, preserve, conserve and maintain the buill and natural environment of the Boomhall Estate and ils surrounding landscapes lo internalionally recognised standards ol conservalion. By protecting the hislorical, environmental, cultural, archaeological and aesthetic significance ol the place,. the charity intends lo make its heritage accessible for the use, enjoyment, wellbeing, education and inspiration ol present and future g8nerations', Ibl to advance arts. culture and heritage by organising activities and evenls al Ihe Boomhall Estate and lo educate the public concerning the historic and cultural h8riiage ol the Eslale, the archaeological and environm8ntal significance of its buildings and landscapes and th8 conservation of built and natural environments generally.. Icl to provide, or assist in the provision of facilities within the 8oomhall Estate and ils surroundings lor recreation and other leisure lime occupation, in a manner in k8epino with the aim of conservino tha Egtate and its surroundings commensurate with lal above, in the interests ol social w&llare, with Ihe objects ol improving the conditions ol life of local communities and the public at large. Page 2
Boomhall Trusl Trustees, Annual Report for the year ended 31 OGtober 2023 Achlevomenl8 and pertonnance Our inaugural Board Meeting was held on 7th Ociober 2019 and since then we have raised awareness ol OLJr vision to restore the estate at Boomhall for community benefit and we continue to make preparations to make that vision a reality. Flnanclal r•vl•w During ihe year income ot £20,171 was received 131 October 2022 £5,356) and costs of £18,202 were incurred 131 October 2022 £7,417) to leave a net income of £1.969131 October 2022 deficit £2,061 l. The reserves al the end ol the year were £2,674 (31 October 2022 £7051 of which £2,441 are unrestricted and £233 are restncted. The Trustees were pleased with Ihe results for the year. Reserves pollcy and golng concern Fleserv88 are needed to bridge the gap b8hveen the spending and receiving of income and to cover unplanned emergency cosls. Due lo Ihe nature of Charity, no activities ar8 Started or costs incurred until funds are secure(I from members. The Trustees consider Ihat only nominal reserves are necessary lo meet fulure costs. Plan8 tor future perlod8 We continue to develop our business plan and lo make applications for funding. Stalemenl ot Irusl888 re8ponslbllllle8 The charity Iruslees Iwho are also the directors of the Boomhall Trust lor the purposes ol company lawl are responsible for preparing a trustees, annual report and linancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounling Practice). Company law requires Ihe trustees to prepare financial statements for each financial year which give a true and fair view ol the stale of affairs of the charitable company and ol the profit or loss of the company for Ihat year. In preparing these the trustees are required to.. select suitable accounting policies and apply them consistently; make judgements that are reasonable and prudenl.. observe the methods and principles in Ihe Charities SORP., state whether applicable UK Accounting Standards have been followd, subject lo any material departures disclosed and explained in the financial slalemenls., prepare the financial statements on the going concern basis unless it is inappropriate lo presume Ihal the organisation will conlinue in business. The trustges are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time th8 financial position of the company and lo enable them lo ensure that the financial stalemenls comply wth 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 detection of fraud and olher irregularities. Page 3
Boomhall Trusl Trustees. Annual Report for the year ended 31 October 2023 Small company provlslon8 This report has been prepared in accordance with the provisions applicable to companies entillecS to the small companies 8xemption. These linancial statements ware approvgd and aulhoris8d for issue on 4 March 2024 and signed on behalf of the board by: Dèsmond Aeld (Troawrer) Dlrector Page 4
Boomhall Trust Company Ilmlted by guarantee Independent Examlner's Report to the Charlty Trustees of Boomhall Tru81 Year ended 31 October 2023 We report solely to the charity Iruslees on our examination of the accounts for the peri(xl ended 31 October 2023. To the lullasl exlenl Permitted by law, we do not accept or assume responsibility lo anyone other than Boomhall Trust and ils trustees as a body for our work or lor this report. As a praclising rnember firm ol Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at vMw.charteredaccounlanls.ie. Respectlve responslbllltles ol charlty trustees and examlner As the charity trustees land also the directors of the company for the purposes of company lawl you are responsible lor the preparation ol the accounts in accordance wilh requirements of the Companies Act 2006 and the Charities Act (Northern Ireland) 2008. Having satisfied ourselves thal the charity is not subject to an audit under company law. and is eligible lor independent examination, it is our respon8ibilily to., examine the accounls Ltnder section 65 01 the Charities Act. follow the procedures laid down in general Directions given by the Charity Commlssion for Northern Ireland under section 65(9llbl of the Charities Act. stal8 whether particular matters have come lo our attention. 8asls of Independent examlner's report We have examined your charity accounts as required ur)der seclion 65 01 Ihe Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 6519llbl of the Charities Act. The examination included a review ol the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration ol any unusual items or disclosures in the accounts, and seeking explanations from you as charity Irustees concerning any such matters. Our role is lo state whether any material matters have come to our attention giving us concern to believe-. 1. that accounting records were not kept as required by section 386 01 the Companies Act 2006 and section 63 of the Charities Act., 2. that the accounts do not accord with Ihose accounting records.. 3. that Ihe accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006, the Charities Acl and with methods and principles of the Charilies Statement ol Flecommended Praclise applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in Ihe UK and Republic Of Ireland. 4. Ihat Ihere is further inlormalion needed for a proper underslanding ol the accounts to be reached. Page 5
Boomhall Tru$1 Company Ilmlted by guarante• Independ6nt Examlner's Report to the Charlty Truslee8 ol Boomhall Trusl Year ended 31 October 2023 Independent Examlnw'8 Statement We have completed our examination and have no concerns in respect ol the matters11110141 above and, in connection with following the Directions ol the Charity Commission lor Northern Ireland, we have found no matters that require drawing lo your attention. "&-Q•K &- 6 Fergu8 MCA r&Co Chartered Accountanls 31133 Clarendon Slreet Dorry BT48 7ER CHARTERED 0 4 MAR ?0?4 ACCOUNTANTS 4 March 2024 Page 6
Boomhall Trust Company Ilmlted by guarantee Statomont ol Flnanclal Actlvllles (Includlng income and expendllure account) lor the year ended 31 Ociobor 2023 Unrestrlcted Restrfctod Fund8 Funds Totals 2023 Totals 2022 Nol•8 Incom• and endowmenl• Donations & legacies Income from charitable aclivities 12,688 7.483 12,688 7,483 105 5,251 Total Income 20,171 20,171 5,356 Expendlture Charilable activilies 18,202 18,202 7,417 Total expendllure 18,202 7,417 Nel Incom8 1,969 1,969 (2,0611 Net movement In lund8 1,969 1,969 (2,0611 Reconclllallon of funds Tolal lunds brought forward at 1 November 2022 472 233 705 2,766 Tolal funds carried fomard at 31 October 2023 2,441 233 2.674 705 The statement of financial activities includes all gains and losses recognised in the year. All income and expendilure derive from Continuing activities Page 7
Boomhall Trusl Company Ilmlted by guarantee Balance Sheel 8$ at 31 October 2023 Unrestrfcled Restrfcted Fund8 Funds Total8 2023 Total8 2022 Not08 rr Debtors Cash at bank and in hand Total curranl auets 4,966 7,851 12,817 4,966 8,084 13,050 1,170 8,013 9,183 233 233 Credltor8: amounts falllng due wlthln one year 10 17,1091 {7,109) {3,2831 Not current a8sel$ 5,708 233 5,941 5,900 Total a8set8 le88 current Ilabllltles 5,708 233 5,941 5,900 Credltors: amounts falllng due after one year 11 13,2671 13,2671 (5,1951 Net asselg 2,441 233 2,674 705 Th Fund8 of the Charll Restricled funds Unrestricted lunds 233 233 2,441 2,441 705 Funds 12 2,441 233 2,674 705 For the year ending 31 October 2023 the company was entilled lo exempiion from audit under section 477 of the Companies Acl 2006 relating to small companies. Directors r8sponsibilities: The members have not required the company to obtain an audit of its financial slatements for the year in question in accordance with section 476., The directors acknowledge Iheir responsibilitses for complying with Ihe requirements of Ihe Act WFth respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. Page 8
Boomhall Tru81 Company Ilmlted by guarantee These flnancial statements were approved by the board of directors and authorised lor issue on 4 March 2024, and are signed on behalf ol the board by; Ciesmond Rel Dlrector (Treasurer) Company Reglstratlon Number . N1665237 Page 9
Boomhall Tru•t Company Ilmlted by guaranto0 Notes to the Ilnanclal statemeirt8 Year ended 31 October 2023 G•nernl Informatlon The Charity Is a public benefit 8ntily and a private company limited by guarantee, reglslered in Northern Ireland and a registered charity in Northern Ireland. The address ol the registered office is 35 Clarendon Street, D8rry, BT48 7ER. Accounllng pollcl•8 BaJl• ol preparntlon and Statement ol ¢ompllanc• The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive l January 2019} (Charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and Flepublic of Ireland IFRS 1021 and the Companiès Act 2006. Boomhall Trust meets the delinilion of a public benefit enliiy under FRS 102. Assets and liabilitl8s are initially recognised at historical cost or transaction value unless otherwise slated in the relevanl accounting policy notelsl. The financial stalements are prapared in Sterling. which is the functional currency of the entity. Golng concern There are no material uncertainties about the charity's ability to continue. Income Turnover repr8sents the lolal value ol grants received and receivable as well as Other income arising from donations during the year. Grants are recognised in the Profit and Loss account when the conditions lor their receipt have been compli6d with and there is reasonable assurance that the grant will be received. Government and olher gran18 Income from government and other grants, whether 'capital' grants or 'revenu8' orants, is recognis8d when the charity has enlitlement to the funds, any performance conditions altached to the grants have been mel, it is wobable that the income will bo received and Ihe amount can be measured reliably and is not deferred Expendllure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any V AT which cannot be lully recovered, and is classilied under headings of the statement of financial activities lo which il relates.. expenditure on charitable aclivities includes all costs incurred by a charily in undertaking activities that further its charitable aims lor the b8nèlit ol its bènèficiaries. includina thosa support eosla and cost$ relaling lo the governance ol the charlty apportlon8d to charllable acllvliigs. All costs are allocated to expenditure categories rellecling Ihe use of the resource. Direct costs attribulable lo a single activity are allocaled directly to Ihat aclivily. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consisienl basis. Page 10
Boomhall Tru8t Company Ilmlled by guaranlee Noles to the Ilnanclal statemants (contlnued) Year ended 31 October 2023 Taxatlon During the current year the company has only been involved in charitable activities in furtherance of ils charitable objects and is not Siable lo Income Tax or Corporation Tax. Flnanclal Instrumentg A financial asset or a financial liability is recognised only when the company becomes a party to the contraclual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement conslitules a financing iransaclion. where il is recognisecl at the present value of the future payments discounted al a market rale of interest for a similar debl instrument. Llmlled by guaranle Boomhall Trust is a registered charity limited by guarantee without a share capital, Charty Commission ol Nl Number.. NIC 107978 HMRC Charity Referenc& Number.. ZD07255 Funds Unreslrlcted Revenue Funds - comprsse those revenue funds which the trustees are free to use in accordance with the company objectives, Restricted Revenue Funds - comprise those revenue lunds which have b8en given for particular purposes and projecls. Unreslricted Capital Funds - compnse those nel assets which the trust is able to apply freely in pursuit of ils own charilable objectives and related purp)ses. Restricted Capital Funds - compnse those nel assels which at th8 énd of the accounting period have specific grant and other conditions restricting either their use or their disposability lor defined periods. Page 11
8oomhall Trust Company Ilmlted by guarante• Notes to the Ilnanclal 8tatemenl¥ (conllnued) Year Ondod 31 October 2023 5. Incom• Unrestrlcted Ae8trlcted Funds Funds Total 2023 Total 2022 Don*tlon• and10gaclo8 Donations 12,688 12,688 105 Tolal 12,688 105 In¢om• from chorllable acllvlll•s Sale ol trees Pilgrim Trust Tour Receipts Other income Tolal 631 4,620 7,380 90 7,380 90 7,483 6. Expendlluro UTrre•trfct•d Fund8 R•8trlctod Fund8 Tolal 2023 Total 2022 Actlvltl•8 undertakon dlrectly Branding and Survey 2,550 2,550 Support C0818 Insurance Room hire Accountancy fees Bank charges Bank inleresi paid Consultancy fees 75 50 550 111 200 17,216 18,202 75 50 550 111 200 17,216 18,202 575 129 163 4,000 4,867 Total 18,202 18,202 4,887 Page 12
Boomhall Trust Company Ilmlted by guarante• Not88 to the flnanclal ¥tatem8nt3 (contlnued) Year ended 31 Octobor 2023 Independont oxamln•rs r•munerallon 2023 2022 Fees payable for the independent examination ol the financial statements 550 550 Slaff Cos18 The average numb8r of person8 employed by the company during the year amounted lo Nil (2022.. NIII. There were no persons employed by the charity during ihe perlod. No remuneration wa8 paid and no expenses were reimbursed to the trustees during the period. The truslees are the key management personnal ot the anlily. Doblor8 2023 2022 Trade debtors Othor d8btors 2,538 2,428 1,170 4,966 1,170 10. Crndltor8: amount8 falllng due wlthln oné year 2023 2022 Bank loans and overdrafts Accruals and deleired income Other credilors 2,128 4,376 605 2,128 550 605 7,109 3,283 Credllorn: amount8 falllng due after more than one year 2023 2022 Bank loans and overdrafts 3,267 5,195 Page 13
Boomhall Trujt Company Ilmlled by guaranleo Note8 to the Ilnanclal 8talements (contlnued) Year ended 31 Octob•r 2023 12. Analy818 ol charltable tund8 Anolys18 01 movemen18 In unr931rlcted funds Balance at IncomlngRe*ource• Fund8 •1 181 Nov '22 Resource8 Expended Tran81er• 31 Bt Oct '23 General Fund 472 20.171 (18,202) 2,441 472 20,171 (18,202) 2,441 Nam• ol re$irlctod lund General Fund Descrlpiion ol th• Fund Funds which the Trusl is able to apply freely In pursuit of its own charitable objactives and related purposes. Analy818 01 movemen18 In reslrlcled funds Balanco at IncomlngResource• Fund8 at 18t Nov '22 Re8ource8 Expanded Trgngf•r• 31st Oct '23 Restricted Fund 233 233 233 233 Name ol restrlcted lund Restricted Fund Descrlptlon of th? Fund Funds which the Trust applles for partlcular purposes and projects In pursuit of its charitable objectives Analy818 ol nel a88els belween lund$ Goneral R•$trlclOd Fund Fund 7,851 233 4,966 17,109} 13,2671 Total 8,084 4,966 17,1091 13,267) Cash at bank and in hand Other current assets Current liabilities Long term liabilittes Total 2,441 233 2,674 Page 14
Boomhall Trust Company Ilmlted by guaranlee Notes lo the flnanclal 8talement3 {contlnued) Year endod 31 October 2023 13. Related party transactlons During the year the company entered into the following transacllons with relat8d parties.. Transaction value 2023 Balance owed byllowed lo) 2023 2022 2022 Trustees ILoanl Trustees (Donations) 11,1701 10.000 1.170 Pago 15