Company reglstratlon number: N1669612 Charity registration number.. NIC108164 GIFTED TRUST TRUSTEES, REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 AE120uHS 2411212025 COMPANIES HOUSE A36
Gifted Trust Contents Page Reference and Administrative Details Tru5tees' Report Independent Examiner's Report Statement of Flnanclal Activltles (Including Income and Expenditure Account) Balènce Sheet Notes to the Financial Statements 7-11
Gifted Trust Reference and Administrative Details For The Year Ended 31 March 2025 Trustees Allson Blayney Karen Connor Margaret Weir Charlty Number NIC108164 Company Number N1669612 Reg5stered Offi¢• 77 Maln Street Bangor BT20 SAP Independent Examlner Brlan Stewart Lndependent Examlner RBCA Limited Chartered Accountants Linenhall Exchange 26 Llnenhall Street Belfast BT2 8BG Page I
Gifted Trust Company No. N1669612 Trustees. Report For The Year Ended 31 March 2025 The trustees present their report and the financial statements for the year ended 31 March 2025. Objectives and ActiV4ties Aims and Objectives The objectives are to facilitate the Creation of and supportlng social enterpr15e, social buslness, and charities, cultural and creative projects withln disadvantaged communlties, The Trust Is particularly interested in Town Centre regeneration through community activity and engagement. The soclal entery)rise will invest profits in business and communities offerlng Insplratlonal and creatlve approaches, and working in a wèy that 15 empowering to the community. Flnanclal Revlew Flnanclal Posltlon The company reported a surplus for the year end £32,518 (2024.. E 14,808). Accumulated funds at the reportlng date were £47,326 {2024'. £14,808). structure, Governance and Management Governlng Document The Glfted Twst has been establlshed to support social enterprise, economlc and soclal re9eneratSon In the Ards & North Down region, Key features of the Trust will be educational, employability, heritage, culture and creativity. Gifted Enterprlse has structured Its organlsational culture around care bellefs. These core values Includlng communlty, empowerment. innovatlon, dlversity, integrity, and ownershlp. other Information Addltlonal Note Plans for f uture periods Working towards supporting successful social enterprises encourages the ethos of mouldlng organlsatlonal culture around a set of core bellefs or values that help provide a focus to its vlslon of soclal inclusion wlth a culture and set of bellef5, a55UrnPtlons, symbols, and values that Shape the way in which the organisation contjucts Its activitle5. The creatlon of an organisational culture ha5 pervasive effects as it not only deflnes who Its relevant employees, customers, suppliers, and competltors are, but also defines how a firm will interact wlth these key sectors with social beneflts at it5 core. statement of Trustees. Responslbllltle$ The trustees (who are also the dlrectors of Gifted Trust for the purposes of company law) are responslble for preparlng the Tru5tee5' Report and the financial statements in accordance with applicable law ènd Unbted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financlal statements for each finèncièl year. Unoer company law the trustees must not approve the flnancial statement unless they are satisfled that they give a true and fair vlew of the state of affairs of the charitable company and of the incoming resources ané applbcatlon of resources, including the Income and expenditure, of the charitable company for that period. In preparing the financial statements the trustees are required to.. select suitable accounting policie5 and then apply them conslstently; observe the methods and prlnciples In the Charity SORP; make Judgments and accountlng estlmates that are reasonable and prudent.. and prepare the financial Statements on the going concern basis unless It is inapproprlate to presume that the company will continue in business. The trustees are responsible for keepbng adequate accounting records which disclose wlth reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud ènd other irregularities. Page 2
Gifted Trust Trustees. Report (continued) For The Year Ended 31 March 2025 The trustees are responslble for the maintenance and Integrlty of the corporate and flnancSal Information Included on the charitable company's website. Legislation in the United Kingdom governlng the preparation and dissemination of financial statements mèy differ from legislation in other jurisdictions. Small Company Rules This report has been prepared in accordance with the speoal provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The trustees, report was approved by the board of trustees and signed on Its behalf by.. Alison Blayney Margaret Weir Trustee Date Trustee 22 Dec 2025 19 Dec 2025 Page 3
Gifted Trust Independent Examiner's Report to the Trustees of Gifted Trust For The Year Ended 31 March 2025 I report to the charlty trustees on my examlnation of the accounts of the Company for the year ended 31 March 2025. Responslblllt5es and Basls of Report As the charity trustees of the Company (and also its dirertors for the purposes of company lawli you are responsible for the preparation of the actounts in accordance with the requirements of the Companies Ad 2006 {"the 2006 Art"). Having sat15fied myself that the accounts of the Company are not required to be audlted under Part 16 of the 2006 Act and are ellgible for independent examination, I report In respect of my examination of YOLtr charity's accounts a5 carried out under settion 145 of the Charities Act 2011 {'the 2011 Act.). In carrying out my examination I have followed the Dirertions glven by the Charlty Commission under section 14515) (b) of the 2011 Act. Independent Examlner's Statement ' I have completed my examination. T confirm that no matters have come to my attention in connection with the examinatlon giving me cause to belleve- l. actounting records were not kept In respect of the Company as required by sectlon 386 of the 2006 Act; or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requlrement that the accounts 9Sve a 'true and fair vlew, which Is not a matter considered as part of an Independent examinatlon., or 4. the accounts have not been prepared in accordance wlth the methods and prlnclples of the Statement of Recommended Practlce for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ereland (FRS 102). have no concerns and have Come across no other matters In connectlon wlth the examlnatlon to wttlch attentlon should be drawn In thls report In order to enable a proper understonding of the accounts to be reached. riA S4.- Brian Stewart Independent Examiner Date R6CA Llmlted Chartered Accountant5 Linenhall Exchange 26 Linenhall Street Belfast BT2 88G 23 Dec 2025 Page 4
Gifted Trust statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025 2025 2024 Unrestrirted Unrestricted funds funds Notes XNCOME AND ENDOWMENTS FROM: Donations and legacies other tradlng activitles Investments 19,984 39,733 1,749 22.741 62 61,466 22,803 EXPENDITURE ON: Charitable activitie5'. Expendlture on charbtable actlvltles (28,948) 17,9951 NET INCOME 32,518 14,808 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward 32,518 14,808 14,808 TOTAL FUNDS CARRIED FORWARD 13 47,326 14,808 The notes on pages 7 to 11 form part of these flnanclal statements. Page 5
Gifted Trust Balance Sheet As At 31 March 2025 2025 2024 Unrestricted funds Total funds Notes FIXED ASSETS Tangible A55etS io 3.621 2,300 3,621 2,300 CURRENT ASSETS Debtors Cash at bank and in hand li 1.115 42,866 4,995 7,791 43,981 12.786 Cred5tors: Amounts Falllng Due Wlthln One Year 12 {2761 {2781 NEf CURRENT ASSETS (LIABILITIES) 43.705 12,508 TOTAL ASSETS LESS CURRENT LIABILITIES 47,326 14,808 NET ASSETS 47,326 14,808 FUNDS OF THE CHARITY Unrestricted Funds 47,326 14,808 TOTAL FUNDS 13 47.326 14.808 For the year endlng 31 March 2025 the charStable company was entltled to exemption from audit under settlon 477 of the Companles Act 2006 relatln9 to small companles. The members have not requSred the charitable company to obtaln an audlt In accordance with sectSon 476 of the Companies Act 2006. The trustees acknowledge their responsibilities lor complying wlth the requlrements of the Act with respect to accounting recor¢Js and the preparatlon of accounts. These accounts have been prepared In accordance wlth the provlslon5 applicable to companies subject to the small companies regime. On behalf of the board 41 /P/ L/ Alison 8layney Margaret Welr Trustee Date Trustee 19 Dec 2025 The notes on pages 7 to 11 form part of these financial ststements. Page 6
Gifted Trust Notes to the Financial Statements For The Year Ended 31 March 2025 l. General Informatlon Gifted Trust is a company limited by guarantee, incorporated In Northern Ireland, registered number N1669612 and registered charity number NIC108164. The registered office is 77 Main Street, Bangor, 8T20 SAP. 2. Accountlng Pollcles 2.1. Basis of Preparation of Financial Statements The financial statements have been prepared In accordance with the Charbtles SORP {FRS 1021 "Accountln9 and Reporting by Charlties.. Statement of Recommended Practice appllcable to charities preparlng thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 102) (effectlve I january 2019)" Financial Reporting Standard k02 "The Financial Reportlng Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The charitable company Is a Public Benefit Entity as deflned by FRS 102. The presentation currency is £ Sterling. The level of rounding is to the nearest £. 2.2. Golng Concern Disclosure There are no materlal uncertainties abOl the charlty's abllity to continue. 2.3. Slgnlflcant Judgements and estimatlons The preparation of the financlal statements requires management to make Judgements, estlmates and assumptions that affect the amounts reported. These estimates and lud9ements are contlnually reviewed and are based on experlence and other factors, Includln9 expectations of future event5 that are believed to be reasonable under the clrcumstances. 2.4. Fund Accountlng Unrestrl¢ted funds are avallable for use at the dlscretlon of the trustees to further any of the charlty's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restrlcted funds are subjected to re5trlctions on their expendlture declared by the donor or through the terrns of an appeal, ana fall Into one of two sub-classes,. restrlcted In¢ome funds or endowment funds. 2.5. Tanglble Flxed Assets and Depreclatlon Tangible flxed assets are measured at C05t less accumulated depreciation and any accumulated Impaimient 105ses, Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value. over their expected useful Ilve5 On the following bases.. Plant & Machlnery 25Vo Straight Ilne method 2.6. Cash and Cash Equivalents Cash and cash equlvalents are baslc financial assets and Include cash In hand and deposits held at call wlth banks, other short-term highly liquid investments that mature in no more than three months frorn the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of chan9e in value, and bank overdrafts. 2.7. Taxatlon The company is a registered charity and Is therefore exempt from corporate taxation. 2.8. Trade debtors Trade debtors are amount5 due from customers for merchandise sold or services performef1 In the ordinary course of busine55. Trade debtors are recognised inltially at the eransactlon prlce. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provislon for the impairment of trade debtors is established when there 15 objective evidence that the charlty wlll not be able to collect all amounts due according to the original terms of the receivables. Page 7
Gifted Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 2.9. Trade cr•dStors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of buslness from suppliers. Accounts payable are classifled as current liabilitles If the charlty does not have an untondltlonal rlght, at the end of the reportlng perlod, to defer settlernent of the creditor for at least twelve months after the reporting'date. If there is an unconditional right to defer settlement for at least twelve months after the reporting tlate, they are presented as non-current liabilities. Trade creditors are recognised Inltbèlly at the transactlon prlce and subsequently measured at amortlsed cost using the effectlve Interest method. 3. Income from Donations and Legacies 2025 2024 UnrestrScted Unrestrlcted funds funds Donations and gifts 19,984 4. Incomé from Other Tradlng ActlvltSes 2025 2024 Unrestrlcted Unrestricted funds funds Income from other tradlng actlvlties Consultancy services 37,062 2,671 20,271 2,470 39,733 22,741 .5. Investment Income 2025 2024 Unrestrlcted Unrestricted funds funds other Interest recelvable 1,749 62 6. N¢t Incomel{Expendlture) The net income is Stated after chargin91(¢rediting)'. 2025 2024 Depreciation of tangSble fixed assets - owned 1,207 Page 8
Gifted Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 7. Analysis of Expendlture 2025 Activities undertaken d5rectly Support costs (see note 8) Total Expenditure on charltable activitles (7,534) 36,482 28,948 2024 Support costs {see note 8) Expenditure on charitable èctlvltles 7,995 8, Support Costs 2025 Expenditure on charitable activities Employee costs Prernises expenses General admlnlstration Depreciation 468 3,147 31,660 1,207 36,482 2024 Expenditure on Charitable activltles Employee costs Premises expenses General adminlstration 1,660 610 5,725 7,995 9. Independent Examlner's Remuneratlon 2025 2024 Independent examinatlon of the financial statements 563 Page 9
Gifted Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 10. Tangible As5et5 Computer Equipment Cost As at l April 2024 Additions 2,300 2,528 As at 31 March 2025 4,828 Depretiation As at l April 2024 ProvSded during the period 1,207 As at 31 March 2025 1,207 P4et Book Value As at 31 March 2025 3,621 As at l Aprll 2024 2,300 11. Debtors 2025 2024 Due wlthin one year Trade debtors 1,115 4,995 12. Creditors: Amounts Falllng Due Wlthln One Year 2025 2024 Taxation and soclal securltv 270 278 13. Movemant In Fundg As at l Aprtl 2024 Asat31 Expenditure March 2025 Income UnrestrScted funds General: General unrestrlcted fund 14,808 61,466 (28,948) 47,326 Total funds 14.808 61,466 (28,9481 47,326 As at l Aprll 2023 Asat31 Expenditure March 2024 Income Unrestrlcted funds General.. General vnrestrltted fund 22,803 (7.9951 14,808 Total funds 22,803 {7.995) 14,808 Page 10
Gifted Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 14. Transactions with Trustees None of the trustees receiveo any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year. 15. Related Party Disclosures There were no related party transactlon durln9 the year. 16. Company limited by guarantee The company Is 1Smited by 9uarantee and has no share capital, Every member of the company undertakes to contribute to the assets of the company. in the event of a winding up. such an mount a5 may be requlred not exceeding £1. Page 11