THE BELTRIM CHARITABLE TRUST STATEMENT OF FINANCIAL AcnviTY for the year ended 5 April 2024 Note Unrestrlcted 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 Expendlture Charitable donations Rental expenses Other expenses 5,520 2.095 3,200 5,520 2,095 3,200 37,270 2,382 2,IS4 Total Expendltyre (10,815) (10,815) (41,806) Net galn/(loss) on Investments 154,426) 154,426) 18,890 Net movement in funds 140,520) 140,520) {2,881) Fund5 brought fonward 1,069,872 1,069,872 1,072,753 Funds carried forward 1.029,352 1.029,3S2 1,069,872
THE BELTRIM CHARITABLE TRUST BALANCE SHEEr 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 10 14,473 34,669 667 31,321 49,142 31,988 Creditors: amounts falllng due wlthln one year li (7,1781 13,929) Net current assets 41,964 28,059 Total assets le$5 current liabllitles 1,029,352 1,069,872 Income Fund5 Unrestricted funds 1,029,352 1,069,872 1,029,352 1,069,872 The financial statements were approved by the Trustees4)n 31 January 2025. Mr John Henry Witchell Trustee
THE BELTRIM CHARITABLE TRusr 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 flnancial statements are as follows: al Basls of preparatlon 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 Stsndard applicable in the UK and Republic of Ireland (FRS 102)- (Charitie5 SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). The Trust meets the definttion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unless otherwise stated In the relevant accounting policy note{s). b) Preparatlon of accounts on a goln8 concern bas15 The Trust generally meets its day to day working capital requlrements from its annual income. The Trustees have obtained and reviewed budgets for the coming year and based on these are satisfied that the Trust has resources to provide a reasonable expertation 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 a55et investments comprised of unlisted investments in Ruffer LLP are initially recorded at cost 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 8ains 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 equlvalents Cash and cash equivalents include cash in hand, deposits held at call wrth banks, other short-term highly liquid investments with original maturities of three months or less.
THE BELTRIM CHARITABLE TRusr NOTES TO THE ACCOUNTS (convd) 5 Aprfl 2024 (e) Flnanclal Instruments The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction price and subsequently measured at their settlement value. (fj Fund accountlng Unrestricted funds are general funds that are available for use at the Trustees, discretion in furtherance of the objectives of the charity. Ig) Crltlcal accountlng jud8ements and estimation uncertainty Estimates 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 critical judgments made tn applying the Trusys 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 assets and liabilities within the next financial year. INVESTMENT INCOME Unrestrlcted Funds Restrfrted Endowment Funds Funds Total 2024 Total 2023 Investment property rent Dividends Interest 12,570 11,671 480 12,570 11,671 480 12,700 672 113 24.721 24,721 13,485 DONATIONS Unrestrfcted Funds Restrlrted Endowment Funds Funds Total 2024 Total 2023 Donations 6,550 6.S50 10
THE BELTRIM CHARITABLE Tftusr NOTES TO THE ACCOUNTS (¢onYd) 5 April 2024 4. CHARITABLE DONAnoNS Unrestricted Restrlcted Endowment Funds Funds Funds Total 2024 Total 2023 The Brain Tumour Charity Marie Curie Red Cross Horatio's Garden Scleroderma & Raynaud RDA Omagh DEC Ukraine Humanitarian Appeal Hope for Youth Hollywood Cricket club Crisis at Christmas The Hester Trust Bloomfield Wildlife Watch Big Hoof Ukraine Ukraine Appeal- MBH 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 300 300 200 loo 1500 500 250 200 200 1,000 2,000 200 120 900 5,000 1,000 loo 120 120 1,0 100 1,000 loo 24,000 100 500 1,000 1,000 100 100 1,200 loo 500 1,000 1,000 loo loo 1,200 5,520 5,520 37,270 RENTAL EXPENSES Unrestricted Funds Restrlcted 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 11
THE BELTRIM CHARITABLE TRUST NOTES TO THE ACCOUNTS {conVd) 5 Aprll 2024 6. OTHER EXPENSES Unrestrfrted Funds Restrlcted 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,IS4 NET GAIN ON INVESTMENTS 2024 2023 Revaluation of investments Gain on sale of investments (54,4261 6,78S 12,105 154,426) 18,890 INVESTMENT PROPERTIES Falr Value At 6th April 2023 412,299 At 5th April 2024 412.299 Investment property comprises the old Ulster Bank building premise5 Situated at 2-4 Main Street, Gortin, Omagh, 8f19 8PH and the associated car park. The building was purchased in 2015 for £92,000. The Beltrim 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 usefvl life currently exceeds 50 years. 12
THE BELTRIM CHARITABLE TRusr NOTES TO THE ACCOUNTS (convd) 5 Aprll 2024 9. INVESTMENTS Usted Investment5 Cost At 61h April 2023 Additions Disposals {Loss) on revaluation At 5 April 2024 Carrying amount th At 5 April 2024 629,514 154,425) 575.089 575,089 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 FALUNG DUE wrrHIN 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 TRusr NOTES TO THE ACCOUNTS (convd) 5 Aprll 2024 13. TAXATION The Trust Is recognised as a charityforthe purposes of applicable taxation leglslatlon and is therefore not subject to taxation on its charitable activities. 14. RELATEO 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 direttors of Blakiston Houston Estates. 14