THE BELTRIM CHARITABLE TRUST Trustees Annual Report and Financial Statements th for the year ended 5 April 2024 Registered Charity in Northern Ireland (NIC108174)
THE BELTRIM CHARITABLE TRUST TRUSTEES ANNUAL REPORT The Trustee5 present their Annual Report and Financial Statements for the year ended S April 2024. REFERENCE AND ADMINISTRATIVE DETAILS Address Beltrim Castle 68 Killymore Road Gortin Omagh BT79 8PN Registered Charity in Northern Ireland INIC1081741 CHARITY TRUSTEES The Charity Trustees who served during the year or who were trustees at the date of this report were; Mrs Lucinda Mary Lavinia Blakiston Houston Mr Richard Blakiston Houston Mr John Henry Witchell INDEPENDENT EXAMINER Dr R I Peters Gallagher. OBE. FCA Moore IN.I.I LLP 3? Lodge RoAd Coleraine County londonderry Northern Ireland BT52 INB BANKERS U15ter Bank Limited 14 High Street Omagh Co Tyrone BT78 18J
THE BELTRIM CHARITABLE TRUST TRUSTEES ANNUAL REPORT (cont'dl Objectives and activities The main objectives of the Beltrim Charitable Trust are the advancement of education, the advancement ofcitizenship and community development and other charitable purposes to benefit the local communitv. The Beltrim Charitable Trust supports community enterprise and development both rural and urban, conservation of heritage and local history and environmenlal development and conservation. It also encoura8e5 cross-border. cross-community relations in the local community and offers overseas aid towards the relief of poverty and famine. They main groups that the charity hopes to benefit are- Children aged 5- 13 years old General public Voluntary and community sector Those with learning disabilities Overseas/developing countries. Those with physical disabilitie5 Public benefits The charity ha5 worked to offer financial support to the local community through the Owenkillew Community Development Association which operates the community hall in the village of Gortin and promotes activities for youth groups and others. By offering support to the Owenkillew Communitv Development Association, the Beltrim Charitable Trust h35 helped them become more successful in supporting a number of local groups and or8anisations over the years. There are numerous beneficiaries as a result of funding provided to the community by the Beltrim Charitable Trust - to name a few the playschool. community gardens. gym. Men's shed and health and wellbeing services. Further beneficiaries could be provided. The Beltrim Charitable Trust's contribution to these groups has resulted in an overall benefit to community relations and supporting mental health in the community. The Beltrim Charitable Trust purchased the old Ulster Bank building in Gortin and conducted renovation5 to repurpose the building into a café, workshop and flat. All of these premises have been let out at a commercial rate, helping the trust securefunds and benefit the local community by providing a hubwhere people can meet. The opportunity to enhance business in the village has also contributed to a boost in the local economy as it has attracted more visitors into the village. Achievements during the year During the year ended 5 April 2024. the Trust continued to support local charities and trusts by giving donations to groups such as the Tyrone and Fermanagh Ploughing Society and Air Ambulance Northern Ireland Charity. The Trust also supports causes outside of Northern Ireland with another beneficiary of the Beltrtm Charitable Trust bein8 Got Martar Community Development Group IGMCDGI which supports orphans and vulnerable children in Africa. The Beltrim Charitable Trust also gave various donations to charities and events raising f unds for the crisis in Ukraine. one of the beneficiaries included the Knights of
THE BELTRIM CHARITABLE TRUST TRUSTEES ANNUAL REPORT (cont'd) Malta Scotland Ukraine Appeal. The charity will continue to give donations on an ad hoc basis and, in particular, to the Riding for the Disabled and Owenkillew Community Association. Plan5 for future periods The Beltrim Charitable Trust aims to continue its work supporting local charities and communities. Thev will continue to support causes which are of a great importance to the Trust such as environmental conservation and community enterprise and development. Financial Review The Charitable Trust's main Sources of income are investment income and donations. Net expenditure for the year was £40.52012023.' £2,881) In 2024, investment income amounted to £24,721 (2023.- £13,485}. Donations received by the trust in 2024 amounted to £012023: £6.550). In 2023. the Trust received income from DAERA of £2,628. This was in respect of a project cornmissioned by the Trust but undertaken by a company in which the trustees are directors. As this project was completed on behalf of the Trust, the income was paid out in full to the company who undertook the project. Going Concern The Trustees have reviewed the budgets for the year ahead and are satisfied that there are adequate funds in place to ensure that the Trust can continue its activities and the financial statement5 for the year Ih ended 5 April 2024 can be signed off as a 80ing concern. Strurture, governance. and management The charity is governed by its Trust Deed dated 21 March 2001. The trustees who served during the year and up to the date of signature ofthe financial statements were.. Mrs Lucinda Mary Lavinia Blakiston Houston Mr Richard Blakiston Houston Mr John Henry Witchell Statement of trustee responsibilities The Trustees are responsible for preparing the annual report and the financial statements in accordance with applicable13w and regulations. Charity law requ ires the Trustees to prepare the financial statements for each financial year. Under that law the Trustees appointed to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. including Financial Reporting Standard FRS 102, the Financial Reporting Standard Applicable in the UK and Republic of Ireland IFRS1021 and with the Statement of Recommended Practice "Accounting and Reporting by Charities" Under law the Trustees must not
THE BELTRIM CHARITABLE TRUST TRUSTEES ANNUAL REPORT (conyd) approve the financial statements unless they are satisfied that they give a true and fair view of the State of affairs of the trust and of the net income for that year. In preparing these financial statements, the Trustee5 are required to.. select suitable accounting policies and then apply them consistently: make judgements and accounting estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the companTrls transactions and dtsclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the relevant legislation. The Trustees are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention an(J detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrityof the corporate and financial information included on the charity's website. Legislation in the United Kingdom 8overnin8 the preparation and dissemination of the financial statements may differ from le81slation in other jurisdictions. Statement a5 to disclosure to our independent examiner In so far as the trustees are aware at the timing of approving our trustee5' annual report: there is no relevant information of which the charity's independent examiner is unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the charitws independent examiner 15 aware of that inf ormation. The Trustees. report was approved by the Board. Mr John Henry Witchell 31 January 2025
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE BELTRIM CHARrrABLE TRUST I report on the account5 of the trust for the year ended 5 April 2024, which are set out on pages 7 to 14. Respective responsibilitles of trustees and examlner As the charlvs tnjstees you are responsible for the preparation of the accounts In accordance wtth the Charitles Aec (Northern Ireland) 2008. It is our responsibility to: examine the accounts under settion 65 of the Charltie5 Act follow the procedures laid down in the General Directions given by the Charity Commission for Northem Ireland under section 65(91 of the charitles Act state whether particular matters have come to my attention. Basls of Independent examlnerfs report I have examined your charlty accounts 3s required under section 65 of the Charities Act and my examination was carried out in accordance with the General Directions given by the Charity Commission for Northern Ireland under settion 65(9) {b) of the Charities Act. My examination included a revlew of the accounting records kept by the charFty and a comparison of the accounts presented with those records. It also included a consideration of any unusual items or dlsclosures in the accounts and seeklng explanations from you 35 charity trustees concernin8 any such matters. My role is to state whether any materlal matters have come to my attentlon 8rving me cause to believe: l. That accounting records were not kept in accordance wlth section 63 of the Charlties Act 2. That the accounts do not accord wlth those accounting records 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there is no fijrther information needed for a proper understanding of the accounts to be reached Independent examlnerfs statement I have completed my examlnatlon and have no concerns In respett of the matters (11 to {4) above and, in connettion with following the Dirertions of the charity Commission for Northern Ireland, I have found no matters that requ1 drawing to your attention. Name: Dr R I Peters Gallagher. 08E. FCA Professional Body: Chartered Accountants Ireland Address. Moore {N.I.} LLP, Waterford House. 32 Lodge Road, Coleraine. BT52 INB Date: Si . TrfN
THE BELTRIM CHARITABLE TRUST STATEMENT OF FINANCIAL AcfiviTY for the year ended 5 Aprll 2024 Note Unrestrirted Funds Total 2024 Total 2023 Income Investment Income Donations and legacies 24.721 24,721 13,485 6.550 Total Income 24.721 24.721 20,035 Expenditure Charitable donation5 Rental expenses Other expefjses 5,520 2,095 3,200 5,520 2.095 3,200 37.270 2.382 2,154 Total Expenditure 110.8151 110,8151 141,8061 Net gainlllossl on investments 154.426} 154,4261 18,890 Net movement in funds 140.520} 140,5201 12,8811 Funds brought forward 1,069.872 1,069,872 1,072,753 Funds carried forward 1,029.352 1,029.352 1,069,872
THE BELTRIM CHARITABLE TRUST BALANCE SHEET As at 5 April 2024 2024 2023 Fixed assets Investment properties Investments 412,299 575,089 412,299 629,514 987,388 1,041,813 Current assets Debtors Cash at bank and in hand io 14.473 34,669 667 31.321 49.142 31,988 Creditor5." amounts falling due within one year li {7.1781 {3,9291 Net current assets 41.964 28,059 Total assets le55 current liabilities 1.029,352 1,069,872 Income Funds Unrestf Icted f unds 1.029,352 1.069.872 1.029,352 1,069,872 The financial statements were approved by the Trustees on 31 January 2025. Mr John Henry Witchell Trustee
THE BELTRIM CHARITABLE TRUST NOTES TO THE ACCOUNTS 5 Aprll 2024 ACCOUNTING POLICIES The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: a) Basis of preparation The financial statements have been prepared on a going concern basis in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Trust meets the definition of a public benef it entity under FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unle55 Otherwise stated in the relevant accounting policy notelsl. bl Preparation of accounts on a going concern basis The Trust generally meets its day to day working capital requirements from its annual income. The Trustees have obtained and reviewed bud8ets for the coming year and based on these are satisfied that the Trust has resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable future. Therefore. these financial statements have been prepared on a going concern basis. c) Investments Fixed asset investments comprised of unlisted investments in Ruffer LLP are initially recorded at C05t and are then subsequently stated at fair value at each balance sheet date. Investments in unquoted investments are recorded at cost and are assessed annually for impairment. Unrealised gains and losses represent the difference between the fair value at the beginning and end of the financial year or, if purchased in the year. the difference between cost and fair value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the fair value at the start of the year or cost if purchased in the year. Both realised and unrealised gains and losses in investments are reported within 'Net Gains / (Losses) on Investments" within the Statement of Financial Activities d) Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less.
THE BELTRIM CHARITABLE TRUST NOTES TO THE AccouKfs Icont'd> 5 April 2024 (e) Financlal instruments The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recoEnised at transaction price and subsequently measured at their settlement value. (f} Fund accounting Unrestricted funds are general funds that are available for use at the Trustees, discretion in furtherance of the objectives of the charity. Ig) Critical accounting judgements and estimation uncertainty Estirnates and judgments made in the process of preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The trustees do not consider that there are any crttical judgments made in applyin8 the Trust's accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk of causing a material adjustment to carrying amounts of a55ets and liabilities within the next financial year. INVESTMENT INCOME Unrestrirted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 Investment property rent Oividends Interest 12.570 11,671 480 12,570 11,671 480 12.700 672 113 24.721 24,721 13,485 DONATIONS Unrestrirted Funds Restrirted Endowment Funds Funds Total 2024 Total 2023 Donations 6,550 6,550 io
THE BELTRIM CHARITABLE TRUST NOTES TO THE ACCOUNTS (cont'd) 5 Aprll 2024 4. CHARITABLE DONATIONS Unrestricted Funds Restrirted Endowment Funds Funds Total 2024 Total 2Q23 The Brain Tumour Charity Marie Curie Red Cross Horatio's Garden Scleroderma & Raynaud RDA Om38h DEC Ukraine Humanitarian Appeal Hope for Youth Hollywood Cricket club Crisis at Christmas The Hester Trust Bloornfield Wildlife Watch Big Hoof Ukraine Ukraine Appeal - M8H Tyrone & Fermanagh Ploughing Society Headfort Trust Royal British Legion The Frank Haines Memorial Trust Got Martar Community Group Gift Operation Motivation Brain Waves Nl Air Ambulance Nl Foyle Hospice 300 3Crf) 200 loo 1500 500 250 200 200 1.000 2,000 200 120 900 5,000 1,000 loo 120 120 1.000 loo 1,000 100 24,000 100 500 1.000 1,000 loo loo 1.200 loo 500 1,000 100 loo 1,200 5.520 5,520 37,270 RENTAL EXPENSES Unrestricted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 Repairs Electricity Rates Replacement of domestic items 1.257 1,257 946 453 483 500 838 838 2,095 2,095 2.382 li
THE BELTRIM CHARITABLE TRUST NOTES TO THE ACCOUNTS Iconyd) 5 April 2024 6. OTHER EXPENSES Unrestricted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 Independent examiner fee Management fees Foreign exchange 3.200 3.200 500 1,586 68 3,200 3,200 2,154 NET GAIN ON INVESTMENTS 2024 2023 Revaluation of investments Gain on sale of investments 154,426) 6,785 12,105 154,4261 18,890 INVESTMENT PROPERTIES Fair Value At 6fh April 2023 412,299 At S" April 2024 412,299 Investment property comprises the old Ulster Bank building premises situated at 2-4 Main Street, Gortin. Omagh, BT79 8PH and the associated car park. The building was purchased in 2015 for £92,000. The 8eltrim Charitable Trust completed various renovations from purchase to date to turn the building into a flat. a coffee shop and a workshop. The additional renovation costs amounted to £320,298 bringing the cost of the building up to £412,298. No depreciation has been provided on the property as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. 12
THE BELTRIM CHARITABLE TRUST NOTES TO THE ACCOUNTS (cont'dl 5 April 2024 9. INVESTMENTS Listed Investments Cost At 6th April 2023 Additions Disposals ILoss) on revaluation 629,514 (54,4251 575,089 th At 5 April 2024 Carrying amount th At 5 April 2024 575,089 th At 5 April 2023 629,514 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Rental accounts Establishment of Paddy Accelerator charity 1.333 13,140 667 14,473 667 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Rental deposit held Sundry creditors and accruals 385 301 6,793 3,628 7,178 3,929 12. PAY AND REMUNERATION The Trust has no employees. None of the Trustees receive any remuneration or claim any expenses from the Trust. 13
THE BELTRIM CHARITABLE TRUST NOTES TO THE ACCOUNTS (convd) 5 April 2024 13. TAXATION The Trust is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. 14. RELATED PARTIES During the year ended 5 April 2024, the Trust transferred the deposit received for the flat to Blakiston Houston Estates to be held through their Tenant Deposit Scheme Nl. The Trustees of the Beltrim Charitable Trust are directors of Blakiston Houston Estates. 14