Charity registration numbor Company reglstration number N1674382 (Northem Ireland) GUYSMERE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
GUYSMERE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees P Hunter Rev R Hyndman Rev J Mccaughan W Pollock J Smyth J Knox Se¢rotary Rev J Mccaughan Charfty numbor (Northern Ireland) NIC108125 Company number N1674382 Roglstsrod offlco 2-4 Sea Road Castlerock Coleraine BT514RE Independent axamlner Harblnson Mulholland 6th Floor East Tower Lanyon Plaza 8 Lanyon Place Belfast Co. Antrlm BT13LP
GUYSMERE TRUST CONTENTS Page Trustees, report Independent examinerfs report Stat8ment of flnanclal activllle8 statement of financial posltion Stat8ment of cash flows Notes to the fln8nclal ststements 7-11
GUYSMERE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2024 The trustees present their annual report and financial statements for the year ended 30 Novefflb8r 2024. The financial slaiements have been prepared in accordance with the accounting policies set out in note 1 lo the financial slalements and comply with the charity's governing document, Ihe Companies Act 2006 and "Ac¢ounling and Reporting by Charities- Statement of Recommended Practice applicable lo charities preparing their accounts in accordancè wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. (effective 1 January 20191. Objectlvos and actlvlties The trustees have paid due regard to guidancè Issued by the Charity Commission in deciding whal activities the charity should undertake. Our Vision The creation of a world-class Resid8ntlal, Conference and Activity Centre on the existing Guysmere beachfront site at Casllerock, Northern Ireland. The Centre will accommodata local and intemational groups who share our faith in the Gospèl as well as being a Hub for l¢xal Community a¢tlvlties. A base for faith For educatlonal and re¢reallonal activltl88 A haven for personal retreat Guysmere Tnjst was formed In 2020 to lead this project forward and was incorporatod as a Company Llmited by Guarantee IN16743821 in November, 2020. It beGame a registered charity in Northern Ireland INIC 1081251 on 14th July 2021 and leased the property at Guysmere from the trustees of the Presbyterian Church in Ireland in August, 2021 Achlevements and performance During the year, the main activilles undertaken by the organlsation Included.. The ongoing development of the Stralegic Outline Business Case Inclu¢Jing examining slmllar projects investigating funding opportunities and melhcmlologies developing a webslte for Guysmere preparing a draft dev81opment programme preparing an outline developmenl brlef for the procurement of an Integrated deslgn team organising regular progress meetings ensudng financial compliance and govemance and holding a number of meetings with interested parties a Castlerock community meeting. Flnancial review The net income for the year amounted to £64,198, £708 net expenditu IS attributable lo unrestricted reseNes and £64,906 net income attributed to restricted reserves. At 30 November 2024 reserves stand at £107,767 of which £109,170 is attributable to restricted reserves and a deficit of £1,403 on unrestricted reserves. Structure, governance and management The charity is a company limlted by guarantee. The trustees, who are also the directors for the purpose of company law, and who served durlng thè year and up to the date of signalure of the financial slatemenls were: P Hunter Rev R Hyndman Rev J Mccaughan W Pollock J Smyth J Knox
GUYSMeRE TRUST TRUSTE REpofffiiNcLUOItIG DIRECTCRS. REPORTJ ICONTIMueD) FOR 711E YEAR ENQED 3• NoveMèER 2024 HJ Tvu&t•• O•*:_....
GUYSMERE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GUYSMERE TRUST I report on the financial statements of the charity for thè year ended 30 Novembar 2024, which are set out on pages 4t011. Respectlve responslbllltles of charity trustees and examlner As the charity trustees land also the directors of the company for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial stalements of the charity are not requlred to be audlted under Part 16 of the Companies Act 2006 and are ellgible for independent examination, it is my responsibility to.. examlne th8 financial stalements under section 65 of the Charitles Act (Northern Ireland) 2008: follow the procedures laid down in the general Directions given by the Commission under sectlon 6519llbl of the Charities Act (Northern Ireland) 2008., and stale whether partlcular matters have come to my attentlon. Basls of Independent oxamlnees roport I have examined your charity financial statements as requlred under seclion 65 of the Charities Act (Northern Ireland) 2008 and my examinatlon was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under secllon 65(91{b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the financial statements presentéd with those records. It also included consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as charity trustees concemlng any such matters. My role is to state whether any materigl matters have come to my attention giving me cause to believe that.. 1. Accounting records wera not kept in accordance with sectlon 386 of the Companies Act 2006. or 2. The financial statements do not accord with those accounting records., or 3. The financial statements do not comply with the accounting requlrgments of sectlon 396 of the Companies Act 2006 and with the methods and principles of the Charitiès Statement of Recommended Practice appllcable to charitles preparing their financial statements in ac¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)., or 4. There is further information needed for a proper understanding of the flnancial statements to be reached. Independent examlner's statement I have wmpleted my examinatlon and I have no concems in respect of the matt8rs11) to {4) Ilsted above and, In connection with following the Directions of the Charity Commlssion for Northern Ireland, I have found no matters that require drawing to your attentlon. Harbinson Mulholland 6th Floor East Towèr Lanyon Plaza 8 Lanyon Place Balfast Co. Antrim BT13LP Date..
GUYSMERE TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2024 Unrèstrlcted Rèstrlcted funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legad88 70.000 70,000 1,160 1,160 Totsl In¢omo 70,000 70.000 1.160 1,160 Expendlturn on: Charltable activities 708 5,094 5,802 712 3,870 4,582 Total expondlturn 708 5.094 5,802 712 3.870 4,582 Net Incomo1(oXPgnditurn) and movement In funds {708) 64,906 64,198 448 13,870) 13.4221 Reconcillatlon of funds: Fund balanS at 1 December 2023 1695) 44,264 43,569 (1,143) 48,134 46,991 Fund balances at 30 November 2024 11,403) 109,170 107,767 (695) 44,264 43,569 The statement of financlal activities Includes all galns and losses recognised in the year. All income and expenditure derive from continulng actlvities.
GUYSMERE TRUST STATEMÉiff OF FINAN¢IAL PI)8tnON A$ AT 30 NOVEMBER 2024 prf•- J(44rt • ¢•h IL Iw¥l 45,X9 ¢ff•dttw: amounb hlllw y••r 17.4 107,Tq7 1fj9.1TU 11,4fr3) Its1.117 bJ-'M T•• I•¢ 476 i1l.usliS Rv T,rust•• Aw• J fEfauohnn Try•t4•
GUYSMERE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 NOVEMBER 2024 2024 2023 Notes Cash flows from opèratlng activities Cash genèrated froml(absorbed by) operatlons 13 64,798 12,822) Net cash genorated from Inve8tlng actlvltl Net cash g•neratsd from finan¢lng actlvltl•s Net Increaselldecroa8e) In cash and cash oqulval•nt• 64,798 12,822) Cash and cash 8qulvalents at beglnnlng of year 45,369 48,191 Cash and cash equlvalants at ond of yaar 110,167 45.369
GUYSMERE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Aceountlng policies Charity information Guysmere Trust is a Registered Charity. Company Registration number N1674382 (Northern Ireland) 1.1 Accountlng conventlon The financial stalements h8ve b8en prepared in accordance with the charity's governing document, th8 Companiès Acl 2006, FRS 102 "The Financlal Reporting Standard applicable in the UK and Republic of Ireland. {"FRS 102") and the Charlties SORP 'Accounting and Reportin9 by Charities.. Sta16ment of Recommended Practice apICable lo charities preparing thelr accounts In accordance wllh the Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" leffeclive 1 January 2019). The charity is a Public B8n8fit Entity as defined by FRS 102. The financial Statements are prepared In slerling, which Is the functlonal currency of the charity. Monetary amounts In th8S8 flnancial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost conventlon, modlfied to include the revaluation of freehold propertles and to include investment properties and certain flnanclal instruments at fair value. The principal accountlng policies adopted are set out below. 1.2 Golng concern At the time of approving the financlal statement5, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeablg futu. Thus the trustees continue to adopt tha going concern basis of accounting in preparing the financial statements. 1.3 Charltablo funds Unrestricted funds 8re available for use at Ihe discretion of the trustees In further8nco of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as lo how they may be used. Th8 purposes and uses of the restricted funds are set out In the notes to the financial statements. Endowment funds are subj8Ct to specifi¢ conditions by donors that the capital must b8 maintained by the charlty. 1.4 Income Income Is recognised when th8 charity is legally entitled to it after any performance Gondlllons have bean met, the amounts can be measured reliably, and It is probable that income wlll be received. Cash donalions are recognised on recelpt. Other donallons are re¢ognlsed once th8 charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognlsed at the tim8 of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an Impending distribution. the amount is known, and receipt is expected. If Ihe amount is not known, the legacy Is treated as a contingent asset.
GUYSMERE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Accounting policios (Continued) 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benafit to a third party, it is probabl8 that a Iransfer of economic bènefits will be required in sèttlement, and the amount of the obligation ¢an be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dlrect costs and shar8d costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are 8llocated diredly to that activity. Shared costs which contribute to more than one activity and support costs which are not attribulable lo 8 single activity are apportioned between those activities on a basis conslstent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation Charges are allo¢atèd on the portSon of the asset's use. 1.6 Cash and ¢a$h equlvalents Cash and cash equlval8nts Include cash In hand, deposits held at call with banks, other short-temi liquld Investments wlth original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown withln borrowlngs in current Ilabllities. Baslc financlal assets B8sic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including tr8nsaclion cosls and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the Psent value of the future receipts discounted at a market rate of interest. Financlal assets classifled as receivable within one year are not amortised. Baslc financlal liabllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instwments are subsequently carried at amortised Cost, uslng the effectlve interest rale method. Trade creditors are obligations lo pay for goods or services that hav8 been acquired In the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities If payment is due. wlthin on8 year or less. If not, they are pres8nted as non-current liabilities. Tradè creditors are ffjcognised inlllally at tran$a¢tlon price and subsequenlly measured at amortlsed cost using the effective interest method. Derecognltlon of fln8n¢lal Ilabllltles Financial liabllities affj derecognised when Ihe charity's contractual obllgations explr8 or are discharged or cancelled. 1.7 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's servi$ are received. Termination benefits are recognised immediately as an expense when the charity is demorbstrably committed to terminate the employment of an employoe or to provide temiination benefits.
GUYSMERE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Critlcal accounting esllmates and judgements In the application of the charity's accountlng policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are nol readily apparent from other sources. The estimates and associated assumptions are base(l on hlstofical experlence and other factors that a considered to be relevant. Actual results may dlffer from these estimates. The estimates and underlying assumptions arè r8vlewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the esllmate is revised where the revision affects only that Period. or in the period of the revision and future perlods where the r8vlsion affects both current and future periods. Income from donatlons and legaclas Unrestrleted Rostrlctod funds funds 2024 2024 Tolal Unrostrlcted Restrlct•d funds funds 2023 2023 Total 2024 2023 Donations and gifts 70,000 70,000 1,160 1,160 Expendlture on charltable actlvrties Charitable activltles 2024 Charltablo actlvllles 2023 Direct cost• Bank Fees Development costs 108 5,094 112 3,870 5,202 3,982 Share of support and govornanc• ¢08ts Governance 600 600 5,802 4,582 Analysls by fund Unrestricted funds Restricted funds 708 5,094 712 3.870 5,802 4,582 Trustees None of the trustees (or any persons Connected with theffl} ceiVed any remuneration or benefits from the charity during the year. Employees There were no ernployees during the year.
GUYSMERE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Taxation The charity is exempt from tax on Income and gains falling within section 505 of the Taxes Act 1988 or setlion 252 of the Taxatlon of Chargeable Gains Act 1992 to the èxlent that these are applied to Its charitsblè objects. Credltors: amounts falllng due wlthin one year 2024 2023 Ac¢ru81s and deferred in¢om8 2,400 1,800 Restrfetod funds The restrlcted funds of th8 charity comprlse the unexpended balances of donations and grants held on trust subject to speciflc condltlon8 by donors as to how they may be used. Movement In funds Ineomlng Resourc•B B4lanc• at ro•ourc•8 •xpend•d 30 Novvmb•r 2024 8•l•nc• at 1 DKwnb•r 2023 Development Fund 44,264 70,000 (5,0941 109,170 Restricted funds are funds received for speclfied purposes wlthin tha overall aims or the charty. 10 Unrestrlctod funds The unrestrlcted fund5 of thè charity comprise the unexpended balances of donations and grants which are not subject to SP6clflc cor)ditlons by donors and grantors as to how they may be used. These include deslgnated funds which have been s8t aside out of unrestricted funds by the trustees for speclfic purposes. At30 November 2024 At1 December 2023 Incomlng resources Resources expended General funds (6951 1708) {1,403) Prevlous year: At1 December 2022 Incoming resources Resources exponded At30 November 2023 General fijnds (1,143) 1,160 1712) (6951 10-
GUYSMERE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 11 Anatysls of net assets between funds Unrestrfcted funds 2024 Rastrlcted funds 2024 Total 2024 At 30 November 2024: Current assetsllliabilities) 11,403) 109,170 107,767 (1.403> 109,170 107,767 Unrg8trlcted fund$ 2023 Rastrlcted fund$ 2023 Total 2023 At 30 Novombor 2023: Current assetsl(liabilitlesl (695) 44,264 43,569 (695) 44,264 43,569 12 Related party transactlon8 There were no disclosable r8lated party transactions during the year (2023 - none). 13 Cash ganerated froml(absorbed by) operatlons 2024 2023 Surpluslldellclt) for the year 64,198 (3,4221 Mov•ments In worklng Capital: Increase in creditors 600 600 Cash generatsd fromllabsorbed by) oporations 64,798 (2,822) 14 Analys1$ of changes In net funds The charity had no material debt during the year. 11