Charlty Reg5$tratlon No. NIC108031 HMRC Charlty Regl$tratlon No. XN76485 THE DUFFERIN FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR EWOED 5APRIL 2023
THE DUFFERIN FOUNDATION CONTENTS Page Charity Informallon Trustees, report Independent examlne¢8 report statement of Inanclal activltie8 Balance sheet Notes to the financial staternents 8-17
THE DUFFERIN FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustses Sir I W Huddleston Countess M T M D Gherardesca MrHFGMount Charlty numbor NIC108031 XN76485 Prlnclpal address Clandeboye Estale Bangor BT19 1RN Indepond•nt •xamln•r Dr. R. I, Peters Gallagher 08E FCA Moore (N.I,I LLP 4th Floor Doneg811 House 7 Oon8gall Squara North Belfast BT15GB 8ank•r8 Danske Bank Donegall Square West Belfasl BT1 6JS
THE DUFFERIN FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2023 The trustees present their annual Teport and finanGlal slatemenls for Ihe year ended 5 April 2023. The financial statements have bean prepared in accordance wilh the accountlng pollcies sèt out In note 1 to the rinancial slatements and comply with the charitable trust's governing document. the Charltles Act (North8m Ireland) 2008 and 2013 and "Accountsng and Reporting by Charilies: Statemenl of Recommended Practice applicable to charitles preparing their accounts in a¢¢ordance with the Financial Reportlng Standard applicable in Ihe UK and Republic of Ireland (FRS 102)" (as amend8d for accountlng periods commencing from 1 January 2016). Oblectlves and aethiltl8$ Thè Foundation is limlted to the undertaklng of charilable acllvities bul in terms of the charltable objectives has focus on the followlng The advanGement of education in and Ihe promollon. publication and disseminalion of academic re59arch for public benefll into the robe of th8 Clandeboy8 Estate ("Clandeboye") and the famlty and descerKlanls of the first Marquess of Oufferln ("Lord Duff8rin") past and pres8nt. Ttte establlshmenl and maintenance of scholarships, grants, allowances and prizes and other fonns of financlal support to be awarded to students or othefs as are engaged In any such researth whethei or not the wlK)le or part of that research shall have bean ¢arrled out at Clandeboye. The support of and the educali¢)n Into and provision of pallialive care In Northern Ireland, the United Kingdom or elsewh@re in the world. The preseDiation for the publ1¢ b&neflt of thè whole or sudi part ol the buildings and thelr grounds and surroundings of Clandaboye as may be for any period vested In the Foundation or for whlch It may be responsible logether wlth the preservation for public benefit of furnilure pictures and chattels of any description that may be given lo the Foundation andlor kept at Cland8boye or any olh8r property In the Uniled Kingdom or elsewhere. The promotlon and aid ol such olher purposes as are recognlsed as exclusively charitabla by the laws of Northem Ireland. England and Wales. The Irustees have paid due regard to guidance issued by the Chaflty Commission In d8ading what activities the charity should undertake. Aehlevoment• and Porfomian¢e The Foundation Continuas work wilh the Woodland Trust for the use of Clandeboye and Ils environs for the education of volunteers. students and others into forestry and forestry management., th8 pr8serv81ion of native woodland species. tho development of a disease Iree nursery and the education of the public generalty into the threat of disease to native tree species and ils management, The relationship with the Conservation Volunteers has 8xisted now for over 20 years and continues to develop wilh various jointty promoted evenls planned over the next 12 month pariod. Sp8cific joint ventures include working together lo acquire adjacent hisloric wwdland; getting jointly involved in a research project run out of York University to attempt to 8valu8te the public benefit of sustainable woodland and working together to advance a project to Ilnk wilh the national celebrations planned for th8 Queen's Jubilee, Work has started on a 5 year woodland management programme to remove and then manage inv8SIV8 spec185 thus allowing natural regeneration of the histOTiC bvoodlands and landscape. This has also led to public op8nings and information days with bolh North Down and Ards BC and the National Garden Scheme.
THE DUFFERIN FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 The Foundation has b88n working closely with the Nl For8sty Schools Associatlon now for over 5 years. This is a collaboratlon deslgned to get children of school age years, youth groups and families to use the natural ènvironmenl as a way to encourage learning. Open air school rooms have been created and planning permission sought and granted for an empathetic development which could lake this association lo the nexl level. This endeavour also Involves initiatives de5gned to Iraln teachers inlo ralslng awaren85s of environmental and suslalnablllty Issuès. This initiative has be8n of partular relevance during the Covid pand8mic. When formal school rooms were not available due to Covid restrictlons there was much greater demand for the facilities that Clandeboye can make available. The stralegy is to make positive use of the environs of the Clandeboye Estate both for dlrect teachlng but also to Insplre otheT publlc bodies such as local counclls. the Education Aulhority and others to adopt outdoor léaming. Thè Inlllatlvè Is a cross community onè entitled 'Learnlng Without Walls, whlch is actively supported by th8 Publlc Health Aulhorlty. In each of the last four financlal years Ihe Foundation gave NIFSA donatlons to support Its work. This Is wlth a vlew to furtherlng the Foundation's objectives of encouraglng education but also to help improve the envlronment by allowlng Ihe use of Clandeboye by a wider group of people and further the work of NIFSA. Publlc benellt Is assured through the increased number of people havlng access to the Estatè and lts18gacy landscap8 for lèaming and hèalth promollon. Durlng th8 last 12 month perlod the Foundation sponsored 3 now Inlliativ85. The first was an award In memory of thè late Lady Dufferln to a school tea¢her selected lo travel to Scotland and import best practice back to Nl lor the benefit of the Fore8t School ASSoction in Northern Ireland. The second was to provide financial support for a 'teach the teacher, initiative at Clandeboye to widen both the appeal and the understanding of the Forest Sch¢)ol movement and ils benefit$. Finally. The Foundation sponsor8d and provid8d facllitl88 lor an Intègrated Education Day at Cl8ndeboy8 lo further support the encouragement of Integraled Education for primary age children. The Foundallon has contlnued lo support 8ducallon and r8search Into the achl8vements of the Flrst Marquess of Dufferin and Ava and continues to fund the restorallon of certaln hlsloric artefacts including statues,. pictures and an hisloric allarpiècè. In addltion, the Foundation is working elosety wllh thè Publlc Record Office lo collate and research the Duffèrin archives for the purposes of research into the Ilfe and tlmes of the Flrsl Marquess and hls diplornalic travels. Wod< has been ongolng wlth PRONI over the last Iwo years as to how that relationshlp could be strengthened and deepened. The Foundatlon has also sponsored a PhD student over the13612 calendar years. 11 has also helped Sn the publicallon of a book on the Ilfe of the 5th Marchloness ol Dufferin & Ava. 11 has also established links with Ihe Ulster Canad8 Fund based In Toronto. Con518lenl with ils objectives durlng the year the Trustees have helped to promote research and provlde facllltles lor the discusslon of cancer care throughout the Island of Ireland vAth academlc Instllullons across the Island and in the EU. Finally during the period the Trustees have made loans to other collections for public display The Holbourne Museum, Bath and the Charleston Charitable Trust, Firle. Flnanclal revlow The Foundation has income arisin9 from funds which have been gifted to il and which are invested. The attached statement of financial aclivilies has been revlewed by the Trustees and is consldered to be a fair and accurate represenlallon of the Ir8nsaclions which have been conducted on behall of the Foundalion during the accountlng period. The Trust88s are currently involved in 8 5 y&ar plan to both incr8ase the amount of available funds for inveslmenl in the Foundation to allow it to undertake thè plans which are detailed below. The Foundation was initially endowed by the Marquess and Marchioness of Dufferln and Ava and to raise ptsblic awareness generally. Th8 Truslees for their part have embarked upon a programme ol investing andlor ulilising those assels both lo provide income but also to further the Obj'ecllves of Ihe Foundation. 11 is the policy of the ¢harty to maintain unr8stri¢led funds. which are the free reserves ol the charity. al a level, vh)ith equates to approxlmalely slx months unrestricted expenditure, Al 5 April 2023 the level of unrestrlcted reserves exceeded this larg8t. It Is the policy of Ihe charity that unreslricted funds which hav8 not been designated ftx a specific use should be malntained at a level equivalent to belween three and six month's expenditure. The trustees consider that reserves al this level will ensure thal. in the event of a significant drop in funding, they will be able to continue the charity's Cuffenl activlties whi18 consideration is givèn to ways in which additional funds may be ralsed. This level of reserves has been malnlalned throughout the year.
THE DUFFERIN FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 The trustees h8s assessed Ihe major risks to which the charily is expose(l and are sadsfied that system5 are In place lo mitlgal8 8xposure to the major Tlsk8. In general where it Operales in partnership with other bodies it w5 seek lo millgate risks by ensurlng the partnèr organisations hav8 an appropriat8 policy In place for managing its risks. Plans far futur• porlods As part of a 5 y8ar plan, Ihe trustèes hav& d8veloped greater allianc8s wilh Ihe Woodland Trust lo ensure educatlon. preseNation and malntenance of natlv8 woodland species in light of Ihe actual dlsease fisk to native tree specles such as ash - particularly lrylng lo manage the impacts of ash die back. As indlcated above the Foundation has also 8mbark8d upon a woodland restoration plan covering almosl 70 a¢res of hlslorlc Woodland. The Foundatlon then proposes lo ensure Ihal the natural environment is utilised to Its full advantage through the education programme8 which are offer8d by the Nl Forestry Sthools Associatbon. Thls programme has considerable suppori from the Education Authority and a larga number of l¢Jcal authoriti8s. Th8 trustees also feel that their policy Ghimes well with general Government Poli¢y which seeks io encourage the maintenance and developmenl of vrt)odland. The Foundathon has boen developing closer f81ationships with North Dovm and Arils BC In relation to the Aspects Ilterary festlval.ll also ¢onllnu8s lo sponsor the young muslclan a¢ademy which exists as part of the Camerata Festival held al Clandeboye each August. A programmé of resloratlon has begun with some of Ihe legacy assets at Clandeboyo. During the year It became apparènl that Helen's ToVr neadad $ubslantlal repalr to keep It slru¢turally sound and work was accordingly begun - recognislng the significance of tho Towèr not lust lo the local area but tha wider to the memorlal ol those who lost thelr Ilves at the Somme, The Foundallon has continued lo support educallon and res88rch into the achievements of the First Marquess of Dufferln and Ava and has developed assoclations with several academic in$tllulions with a vi8W to allow a better understanding of the collectlon. As part of that the Trustees continue lo fund the reslorallon of certain hi$lori¢ artefacts whl¢h. given the costs involved, they do on a rolling basis, The inlention would be lo develop Ihal rolling plan and accommodate il within recuTilng incom6 where possible - deploying capltal for malor repairs when needed. Struelur•, governance and management The Dufferln Foundation wa$ formed by a ch8rltable deed dated 27 May 1988. The charlty Is reglstered wilh HM Revenue and Customs as a Gharitable body lor taxatlon purpos8s (HM Revenue & Customs Charity No XN76485). The charity iegislgred wlth tha Charlty Commission for Norihern Ireland on 22 March 2021 (CCNI No NIC108031}. The governing inslrument Is the charltable trust deed, vthi¢h stales the objects of the charity and details the rules by which il will operale. The trustees who served durlng the year and up lo the date of signature of the Iln8ncial slat8mentS Were: Sir I W Huddleston Countess M T M D Gh8rard8sca MrHFGMounl The tnAStees ol the charity are appointed by the exlsting trustees. None of the trustees has any b8neficlal Inlerest In the charity. The tru tees. re was ap rd of Trustees. Slrlw Twstee sl Dated: 5 Februa 2024
THE DUFFERIN FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DUFFERIN FOUNDATION I report on Ihe financial statements of th& charity for the year ended 5 Aprll 2023, whlch are sel out on pages 6 10 17. Respectlve responslbllltl•s of tru5t•e8 and examln•r As th8 charity's trustees you are r8sponsibl8 for the preparation of the accounts in accordance with th8 Chariti8S Act (Northem Ireland) 2008. 11 is my responsibi1Sty to.. examine Ihe ac¢ounl$ under Section 65 of the Charities Act (li) follow the pro¢edures laid down in the general directions given by the Charity Commission for Norlhern Ireland under section 65{9llb) of the Charities Act (iiil to state whether particular matters have rnme lo my attenti¢. Ba$ls of Independent examlnerfs rnport I have examined your charlly accounts as requlred under $e¢tion 65 of Ihe Charities Act and our examination was artied out in accordance with the general Directions given by the Charity Commission for Northern Ireland under seclion 65(9){b} of the Charities Act. The examination included 8 review of the accounling records kept by the charily and a comparison of thé accounts présentèd with those re¢ord$. It also included considération of any unusual item$ or dlsclosuras in th8 accounts, and seeking explanatn$ Irom yOLt as charity Iru8te88 con¢erning any such matters. My role Is to state whether any material matters have come to my attention glvlng us cause to bellev?: 1. That accounllng records were not kepi in accordance wllh sèctlon 63 01 the Charltles Act 2. That Ihe accounts do not accord with those accounting records 3. That Ihe accounts do not comply with the accounting requirements of the Charllles Acl 4. That there Is further Informatlon needed for a proper underslandlng ol the accounts to be reached. Ind•p•nd•nt •xamln•r'i statement I have completed our exarnlnatlon and have no concems in respeGt of th8 matters (1) 10 (4) listed above and, in onne¢tion with followlng the dlrectlons of the Charity Commlsslon for Northern Ireland, we have found no matters that require dravAng lo your attentlon, Dr R I Peters Gallagher OBE FCA lor and on behalf of Moore (N.I.) LLP 4th Floor Donegall House 7 Donegall Square North Belfast BT15GB Dat8d: S F8bruary 2024
THE DUFFERIN FOUNDATION STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2023 Unrestrlctod Unrestrlctéd funds funds 2023 2022 Nole$ AA 8 and endowmon Donations and legacles Investments Olher Income 7,400 36,640 5IXI 30,647 31 Total Incom• 44,040 31.178 ndlturn on: Raising funds Cost of running the charlty Inveslrnent management 15,048 8.278 4,201 9,OOS 23,326 13,206 Charltable actlvities 22,653 79,388 Tolal rasour3 expend•d 45,979 92,594 Nel {lossesygains on Investmenls 13 (119,368) 67,290 Net l•xpendllur•)nneom• for th• y•arl Net movement In fund$ (121,307) 5,874 Fund balances at 6 April 2022 2,729,214 2,723.340 Fund b•lancé8 at 5 Aprll 2023 2,607.907 2,729.214 The slatament of Ilnanclal activities includes all galns and losses rocognised In lh8 year. The statemenl of financial activllles includes all 9ains and losses recogni5ed in Ihe year. All Income and expenditure derive from continuing actlvltl8S.
THE DUFFERIN FOUNDATION BALANCE SHEET AS AT 5APRIL 2023 2023 2022 Not•s Fixed assets Tangible assets Horilage assets Investments 14 16 15 7,500 135,786 2,424,281 7,500 117,671 2,580,112 2,567,567 2.705,283 Current a$$•ts Debtors Cash al bank and in hand 17 6,244 35,055 1.458 23.432 41,299 24,890 Credllors: amounts falllng due wllhln on• year 19 (959) {959) Net curn1 a88els 40,340 23,931 Total a•sots less curr•nt Ilablllt1•8 2,607,907 2,729.214 In¢om• fund8 Gen&ral unreslrlcted funds RevaluBlion reserve 2,572,708 35,199 2,609,278 119,936 2,607,907 2.729,214 2,607,907 2,729,214 Thefi clal stat nts were approved by Ihe Trustees on 5 February 2024 Sir I Trus les
THE DUFFERIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 A¢¢ounllng pollcles Charlty Inforniatlon The Dufferin Foundation is a public benefit entlty and a registered charity In Northem Ireland and is unincorporated. The address of the principal office is Clandeboy8 Eslale, Bangor, Co. Down, BT19 1 RN. 1.1 Accountlng conv•ntlon The financial stalemenls have b8en prepared in accordance wlth the Charities Act (Northern Ireland) 2008 and 2013 and "A¢countin9 and Reporting by Charities. Statement of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Slandard applicable in th8 UK and Republic of lieland (FRS 102)" (a5 arnended lor accountsng pericrfjs commencing from 1 January 2016). The ¢harlty has taken advantage of the provlslons in Ihe SORP for ¢harllles applying FRS 102 Update Bulletln 1 not to prapar6 a Slaiomènt of Cash Flov. The finandal statements ere pr8pared In slerling, whlch is tho functional currèncy of the charity, Monetary amounts In those flnancial stal8m8nts are rounded lo the nearesl £. The prfnclpal accounling policies adopted are set out below. 1.2 Golng coneern Al the lime of approvlng the financial statèments. the truslees have a reasonable expectation that the charily has adequate resources lo ¢ontinuo in operallonal exlslence for the loreso8able future. Thus the tnislees continue io adopl the going concèm bas18 of accountin9 in preparing Iho financial statèments. 1.3 Charltable funds Unrestrlcted lunds are available for use al the discretion of tho trustee8 in furtherance of thair charitable objectives. Restricted funds are subjeol to specific conditions by donors or grantors as lo how they may be used. The purpose6 and use5 01 the re$lrict8d funds are set out in the nolgs to the financial statements. Endowmenl funds are subject to spacific conditions by donors that the capital must be malntsined by the charity. 1.4 Income Income Is recognised when the charlty Is legally enlitled to il after any perfom)ance conditions have been met, the amounts can be measured rellabty. and it is probable Ihat in¢ome wlll be ¥ec8lved. Cash donations a recognlsed on iec8ipI. Other donations are récognlsed once the charlty has been notified of the donation, unless performance conditions r6quire deferral of thè amount. Income tax r8coverable in relatSon to donations received under Gift Aid or 4Jeed5 of covenant Is recognlsed at the time of Ihe donatS0n. Legacies are recognised on receipt or olherwise if Ihe charlty has been notffied of an Impendlng distrlbuti¢)n, the amount is known, and receipt is expected. If thè amount is not known. the legacy is treated as a contingent asset.
THE DUFFERIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Accountlng pollcles (Contlnued) 1.5 Expendllure Expendilure 1$ recognised once there is a legal or conslructlve obligation to Iransler economic beneflt to a third paty, il is probable that a transfer of economlc benoflts will be required in settlement, and Ihe amount of the obligation can be measured reliably. Expenditure is classified by actlvily. The costs of each actlvity are made up of the lotal of direct cosls and shared costs, including support costs involved In undertaking each aGlivity. Direct costs attributable to a Single activity are allocated directly lo that activity. Shared ¢osls which contribute to more than one aclivity and 5UPPOrt ¢051s which are nol attributable to a single aclivity are apporlioned belween those activit18s on a basis on51St8nl with the use of r8sources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. expenditure on raising funds Includes the costs of all fundralsing aclivities. events. non4haritable trading acliviti8s, and the sale of donated goods. expenditur8 on charitable activitie8 Includes all ¢oyls incurred by a charity in undertaking aclivitieg that further its charitable aims for the benefil of Its benefiGiaries, including those support costs and costs relating to the governanc8 of the charlty apportioned to tharitable activities. other expendilure includes all expendlture that Is neither related to raising fvnds for the charlty nor part ol Its gxpendilure on charitable activities. All costs are allocated lo expendlture calegories reflecling the use of the resource. Dlrecl costs allrlbulable to a single activity are allocated dlrectly lo that activily. Shared Gosts ar8 apportloned bethen the activitie$ Ih8y contribute lo on a reasonable, Iu811fiable and consistent ba81S. 1.6 Tanglbl• Ilx•d 08SOts Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuatlon. nel of depreclation and any Impaim*nt losses. Depreciation is recognlsed so as to wrlte off the cost or valuation of assets less thelr resldual values over their useful lives on the following bases.. Fixtures and fittings 20% straight line Frèéhold land Is not depreclaled, The galn or loss arislng on the disposal of an asset is determlned as the differance be88n the sale proceeds and the carrying value of Ihe asset. and is recognised in the statement of financial aclivilies. 1,7 Horltage as8ets Heritage assets measured under the cost model are recognised initially recorded al acqulsillon cost, and subsequently stal8d al cost less any accumulated depre¢ialion and impairment losses. Heritage assets measured under the revaluation model are recorded al fair value less any accumulated Impairment losses. Where information on Ihe Gost or value of an asset is not available and cannot be obl8in8d at a cast which is commensurate with the benefits to users of the financial statements. the asset shall not be recognised in th8 statem8nt of flnanclal posltion. 1.8 Flxed asset Investments Fixed asset investments are initially measured al transaction prlce excluding transaction costs, and are subsequenlly measured al fair value al each reporting date. Changes In fair value are recognised in nel In¢ome1{eXperIlre) for the year. Transaction cosls are expensed as incurred.
THE DUFFERIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Accountlng pollcle$ IContlnu•d) 1.9 Impalmi•nt of flxed assets At each reporting end date. Ihe charity reviews the carrying amounts of its tangible assets lo dètermln8 vthether thère Is any indication that Ihose assets have Suffered an Impalrmenl loss. If any such Sndbcallon exisls, th8 recoverable amount of the asset Is èslimaled in (Yder to determine the extent of the Impalrment loss {If any). 1.10 Cash and Cash equlvalents Cash and cash equfvalents include cash In hand. deposits h81d at call with banks, olher short-term Ilquid investments wlth original maturities ol three months or less. and bank overdrafts. Bank ov8rdrafts are shown wilhin borrowlngs in current liabilllies. 1.11 Flnan¢lal Instrumènts The charily has elected to apply the provislons ol Section 11 'Basic Flnanclal Instruments, and Secllon 12 'Other Financlal Instruments Issues, of FRS 102 to all of its financial instrumènts. Financial Instruments are recognSsed In the charfty's balance sheet when the charity b$com•s party to the contractual provlsions of th8 inslrumant. Financlal assets and liabilities are offset. with the nel amounts presented in the financial statements, when there is a legally enforceable right to set off the reco9nised amounts and there is an intention to settle on a net basis or lo reallse the asset and settle the Ilability simullan8OU81y. B•$lc Ilnanclal assets Basic flnanclal assets. whi¢h Include d8blors and ¢a$h and bank balances, are initially rneasured at transactlon prlcg induding transactlon costs and are subsequenlly carried at amortised cost uslng the effective Interest m8thod unless the aangement conslltules a financing Iransaction, Whe the transaction is measured at the present value ol the future receipts discounted at a market rate of interest. Flnanclal assets classified as receivable wilhin one year are not amortised. Bask fin4n¢lal Ilabllltle$ Basic financial Ilabllilies. including creditors and bank loans are Inltlally recognised at Iransaclion prlce unless the arrangement constitutes 8 financing transaclion. where the debl Instrumenl is rneasud at the presenl value of Ihe future payments discounled at a market ral8 of interest. Finanelal Ilabllities classified a$ payable within one year are not 3mortised. Debt instruments are subsequently carrled at amortlsed cost, usin9 the effecllve interest rale method. Trade credltors are obligations to pay for goods or service$ that have b88n acquired in the ordlnary course of operalions from suppliers. Arnounls payable are classified as current liabiliti8s if paymanl Is due within one year OT less. If nol, they are presented as non-currenl liabilities. Trade creditors are recognised initially al transactlon price and subsequently measured at 8mOTli5ed cost using the effective interest method. Derecognltlon of flnan¢lal Ilabllltles Financial liabilitie5 are derecognlsed when Ihe charily's contractual obligations expl or ara discharged or cancelled. 10-
THE DUFFERIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Crfllcal a¢¢ountlng osllmales and ludgements In the application of the charily's accounting pollciès, the trustèes arè required to makè frudgemenls, estimates and assumptions about th8 carrying amount of assets and Ilabillllès that are not readily apparenl Irom other sources. The estimates and associaled assumptions are based on hlslorlcal experlence and olhef factors Ihal are considered to be relevant. Actual resulls may differ from Ihese 08limates, The eslimale5 and underlying assumptions are revlewed on an ongoing basis. Revisions to accounting estlmales are recognised In Ihe perlod In which the estlmate 18 revised where the revision affects only that pèriod. or én the period of the revision and futura riodS wherè the revison affects both current and future periods. Donatlon$ and10ga¢l•s Unr•gtrl¢t•d Unrestricled funds lunds 2023 2022 Donations and gifts Granls Receivable 850 6,SSO 500 7,400 500 Olhor Income Unr•8trlct•d Unrestrlctgd funds funds 2023 2022 Royalties 31 11
THE DUFFERIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Inveslfnenls Unr•8trlct•d Unrestricted funds funds 2023 2022 Rental in¢oma Income from listed invesiment8 Interest ie¢eivabl8 4,768 28,341 3,531 4.768 25.324 555 36,640 30,647 Ral$lng fund8 Unrostrlet•d unstrICted fund$ funds 2023 2022 Cost of nin h charlt Repairs and maintenance Legal and prolessional Telephonè Bank ¢harg88 Lighl, power and heat Compular runnlng charges 11,326 840 508 45 2,149 180 779 1.000 452 37 1,753 180 15.048 4,201 stment mana 8.278 9,005 8,278 9.005 Charltable acllvltles Pramotlon ol Promolion of the the foundatlon's foundation's actlvltes activiles 2023 2022 Grant lunding of activities (s8e note 8) 22,653 79,388 12-
THE DUFFERIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Grants payable Promollon Promotion of of the the foundatlon's foundalion's a¢tlvlt88 acllvites 2023 2022 Grants to institutions: Killyleagh Paflsh World Vislon Nl Forest School Assoication John Witchell Nl International Organ Competlllon Bangor Abbey TCV Tree Nursery Dickson Nurserie$ Buglife ANDBC- Nat Rngrs Sunflower Sandwlch 300 475 1.500 1 5,000 300 475 59.613 15,000 2,000 1,000 1,000 2,620 1,000 799 709 22.653 79,388 Trust# None of the Iruslees (or any persons connected with them) received any remuneration or benefits from the charlly during the year. 10 Independent examlnerf8 remunerallon The anatyslg of independent examiner's rérnunération is as follows: 2023 2022 Independent examination of Ihe annual accounts 600 600 11 Employees Therè weie no employeas durlng the year. 12 Taxatlon The charily is exempt from taxation on its aclivities because all its income 18 applied for Charitable purposes. 13-
THE DUFFERIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 13 Not galn•l(10$8e8) on Investmenls Unrestrfctsd Unrestrlcted funds funds 2023 2022 Gainl{Ios51 on sale ol investments Revaluation of flxed asset Investments 134,630) (84,738) 13,374 53,916 (119,368) 67,290 14 Tanglbl• flxod asmts Fi••hold lthnd Flxtur• and and bulldlngs Ilttlng Total Cost Al 6 Aprll 2022 7.500 8.207 15,707 At 5 April 2023 7,500 8,207 15,707 Doprocl#tlon and Impalmiént At 6 Apiil 2022 8,207 8.207 At 5April 2023 8,207 8,207 Carrying amount At 5 April 2023 7,500 7.500 At 5 April 2022 7.500 7.500 14-
THE DUFFERIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 15 Flxed asset Investments Ll$tod Investment Inve8lmenls proporties Cash In portfollo Total Cost or valuatlon At 6 April 2022 Addlllons Valuation changes Dlsposals 2,127.709 621.313 (84.738) (649,223) 300,000 152.403 (43.1831 2,580,112 578,130 (84.738) (649.223) Al 5 April 2023 2,015,061 300.000 109,220 2.424,281 Carrylng amount At 05 April 2023 2,015,061 300.000 109,220 2,424.281 Al 05 April 2022 2.127,709 300.000 152.403 2,580,112 15-
THE DUFFERIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 16 H•rllag• assets SIlr cup Bumiese flgures Chap•l Ava rooms Totsl At 6 April 2022 Purchases 6,705 35.280 6,870 68.186 11,245 7.500 117.671 18,115 At 5 April 2023 6,70S 42.150 79.431 135.786 The FourKfatlon has only limi18d bul nonetheless importanl Hethge assets. Flrstly IÈ owns Ihe chap81 at Clandel)oye. Thls bulldlng is preserved for tho benefit of the built anvironment Ihat constitut88 th8 fabric of th8 Clandoboy8 Estate but is in constant use by members of Ihe public as It enjoys Ihe status of being a Chapel al Eas8 to Bangor Abbey. The Foundalion has embarked upon an Improvement plan installing a connectlon to the di81rid heating sysl8m and has Invested In stalned glass win(low$ as a memorlal to the Marquass of Dufferin and Ava a$ Is tho sllver cup that Is us8d In connection wilh s8Nlces held In the Chapel. The chapel is a150 used lor local ¢ommunty ev8nls and for music recltals on a frequent basls. The Burmese Figures are museum quallty. They are unlque but because of thelr age have recantty requlred r8Storation and re-glldlng. That proc8ss was undertaken in the currenl financlal year through the ausplces of an appropriately qualified expart. No further èxpendlture Is antlcipated in relatton to these artefacts. Starting in Iho Current year the Foundallon Is also beglnnlng the proce$$ of properly resourclng the Famlly archives that are ielalned at Clandeboy8. A partnership approach has been adopiad between the Foundalion, the Public Records Offlce Nl and Newcastle Universily to ¢ollale these unlque records. The intenlion is Ihat when thls exercise has been compleled the archlves wlll be be made avallable for public att•ss. 17 Debtors 2023 2022 Amounts falllng du• wlthln on• year: other debtors Prepayments and accrued In¢ome 5.876 368 1.108 350 6.244 1,458 18 Flnanclal Instruments 2023 2022 Carrylng amount of flnanclal assets Instruments measur8d at fair value Ihrough profit or IDSS 2,015,061 2.127.709 19 Credltors: amounts falllng due wlthln ono year 2023 2022 Accruals and deferred income 959 959 16-
THE DUFFERIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 20 Unrostrlcted fund8 The unrestricted fvnds of the charity comprise the unexpended balances of donations and grants which are not subjecl to specific Conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unreslricted funds by the Irustees for specific purposes. At 6 Aprll 2022 Incomlng r•sourcè8 Resources •xpènd•d Galns and 108SeO At 5 Aprll 2023 General fijnds 2,729,214 44,040 (45,979) (119,3681 2,607,907 Prevloui y•ar: At 6 Aprll 2021 Incomlng rosourcefj Resources expended Galn5 and 10s806 At 5 Aprfl 2022 General funds 2,723,340 31,178 192,594) 67.290 2.729,214 21 Analys18 of net assets between funds Unr•strlctod Unrestricted fund8 lunds 2023 2022 Fund balances al 5 Aprll 2023 are repr8sènled by.. Tangible assels Herllage assets Inveslments Current assetsllliabililies) 7,500 135,786 2.424,281 40,340 7,500 117,671 2,580,112 23,931 2,607,907 2.729,214 22 Relat•d party transa¢tlon$ The Marchioness of Dufferin & Av8 was a trust88 of th8 Foundatlon. The Marchioness of Dufferin & Ava was a director and shareholder In The Clandeboye Eslale Company Limlted. The Foundation has a debtor of £5.876 from The Clandeboye Eslale Company Limited which was previously an unsecured. interest free and repayable on demand loan lo the Foundalion. The balance owing by the Foundatlon lo The Clandeboye Estate Company Limlted al the 2022 year end was £1,108. The agrlcullural land owned by the Foundatlon Is made avallable to the Clandeboye Estale Company Limilèd under a cona¢rè agrèement. During the year the foundalion received conacre income of £4,768 {2022'. £4,768) from the company. The Foundalion re¢eived a donation of £nil from the company12022'. £600). 17-