## 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. 

## Plans for future periods 

The Beltrim Charitable Trust aims to continue its work supporting local charities and communities. They 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 £15,524 (2024: £40,520) 

In 2025, investment income amounted to £31,121 (2024: £24,721). Donations received by the trust in 2025 amounted to £9,000 (2024: £0). 

## 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 statements for the year ended 5" April 2025 can be signed off as a going concern. 

## Structure, 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 of the financial statements were: 

- Mrs Lucinda Mary Lavinia Blakiston Houston 

- - Mr Richard Blakiston Houston - MrJohn Henry Witchell 

## Statement of trustee responsibilities 

The Trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations. 

Charity law requires 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 (FRS102) and with the Statement of Recommended Practice “Accounting and Reporting by Charities”. Under law the Trustees must not 

4 

## THE BELTRIM CHARITABLE TRUST 

## TRUSTEES ANNUAL REPORT (cont’d) 

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 Trustees 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 company’s transactions and disclose 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 and detection of fraud and other irregularities. 

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions. 

## Statement as to disclosure to our independent examiner 

In so far as the trustees are aware at the timing of approving our trustees’ annual report: 

- e there is no relevant information of which the charity’s independent examiner is unaware; and e 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 charity’s independent examiner is aware of that information. 

## The Trustees’ report was approved by the Board. 


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5 

## INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE BELTRIM CHARITABLE TRUST 

| report on the accounts of the trust for the year ended 5 April 2025, which are set out on pages 7 to 14. 

## Respective responsibilities of trustees and examiner 

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. 

It is our responsibility to: 

- ® examine the accounts under section 65 of the Charities Act e follow the procedures laid down in the General Directions given by the Charity Commission for Northern Ireland under section 65(9) of the charities Act 

- ¢ state whether particular matters have come to my attention. 

## Basis of independent examiner's report 

| have examined your charity accounts as 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 section 65(9) (b) of the Charities Act. 

My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included a consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters. 

My role is to state whether any material matters have come to my attention giving me cause to believe: 

1. That accounting records were not kept in accordance with section 63 of the Charities Act 

2. That the accounts do not accord with those accounting records 

3. That the accounts do not comply with the accounting requirements of the Charities Act 

4. That there is no further information needed for a proper understanding of the accounts to be reached 

## Independent examiner's statement 

| have completed my examination and have no concerns in respect of the matters (1) to (4) above and, in connection with following the Directions of the charity Commission for Northern Ireland, | have found no matters that require drawing to your attention. 

Name: Dr R | Peters Gallagher, OBE, FCA 

Professional Body: Chartered Accountants Ireland 

Address: Moore (N.I.) LLP, Waterford House, 32 Lodge Road, Coleraine, BT52 1NB Dates §$ EC SAYUWAY BYTE ( 

6 

## THE BELTRIM CHARITABLE TRUST 

## STATEMENT OF FINANCIAL ACTIVITY for the year ended 5 April 2025 

||Note|Unrestricted|Total|Total|
|---|---|---|---|---|
|||Funds|2025|2024|
|||£|£|£|
|Income|||||
|Investment Income|2|31,121|31,121|24,721|
|Donationsand legacies|3|9,000|9,000|-|
|Total Income||40,121|40,121|24,721|
|Expenditure|||||
|Charitable donations|4|21,620|21,620|5,520|
|Rental expenses|5|2,754|2,754|2,095|
|Otherexpenses|6|2,280|2,280|3,200|
|Legal and professional|7|1,289|1,289|-|
|Total Expenditure||(27,943)|(27,943)|(10,815)|
|Net gain/(loss) on|8|3,346|3,346|(54,426)|
|investments||wanaennee|wn--------|oe|
|Netmovement in funds||15,524|15,524|(40,520)|
|Funds brought forward||1,029,352|1,029,352|1,069,872|
|Fundscarriedforward||1,044,876|1,044,876|1,029,352|



7 

## THE BELTRIM CHARITABLE TRUST BALANCE SHEET As at 5 April 2025 

|As at 5 April 2025||||||
|---|---|---|---|---|---|
|||2025||2024||
|||£|£|£|£|
|Fixed assets<br>Investmentproperties<br>Investments|9<br>10||412,299<br>578,435||412,299<br>575,089|
||||990,734||987,388|
|Current assets||||||
|Debtors<br>Cash atbankand in hand|11|17,945<br>41,335||14,473<br>34,669||
|||59,280||49,142||
|Creditors:amountsfallingdue|12|(5,138)||(7,178)||
|within oneyear||ae||a----=----||
|Netcurrent assets|||54,142||41,964|
|Total assets lesscurrent|||1,044,876||1,029,352|
|liabilities|||s2s=====||==-===>==|
|Income Funds||||||
|Unrestricted funds|||1,044,876||1,029,352|
||||1,044,876||1,029,352|



The financial statements were approved by the Trustees.- 

Wo al Mr Joha-HeaaWitchet- Riceiars brackiste x Hovsioal Trustee 

8 

## THE BELTRIM CHARITABLE TRUST 

## NOTES TO THE ACCOUNTS 

5 April 2025 

## 1. 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 102) — (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

The Trust meets the definition 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) 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 budgets 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 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 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. 

9 

## THE BELTRIM CHARITABLE TRUST 

## NOTES TO THE ACCOUNTS (cont’d) 

5 April 2025 

## (e) Financial 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. 

## (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. 

## (g) Critical accounting judgements 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 in applying 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 assets and liabilities within the next financial year. 

|2.|INVESTMENT INCOME||||||
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|Total|
|||Funds|Funds|Funds|2025|2024|
|||£|£|£|£|£|
|Investment property rent||12,620|-|-|12,620|12,570|
|Dividends||18,021|-|-|18,021|11,671|
|Interest||480|-|-|480|480|
|||31,121|-|-|31,121|24,721|
|3.|DONATIONS||||||
|||Unrestricted|Restricted|Endowment|Total|Total|
|||Funds|Funds|Funds|2025|2024|
|||£|£|£|£|£|
|Donations||9,000|-|-|9,000|-|
|||9,000|-|-|9,000|-|
|||||||10|



## THE BELTRIM CHARITABLE TRUST NOTES TO THE ACCOUNTS (cont’d) 5 April 2025 

## 4. CHARITABLE DONATIONS 

||Unrestricted<br>Funds|Restricted<br>Funds|Endowment<br>Funds|Total<br>2025|Total<br>2024|
|---|---|---|---|---|---|
||£|£|£|£|£|
|The BrainTumour Charity|-|-|-|-|300|
|Owenkill Community|4,300|-|:|4,300|-|
|Development Association||||||
|Tyroneand Fermanagh Ploughing|200|.|-|200|100|
|Association||||||
|Willowfield Parish Community|2,000|:|-|2,000|-|
|Association||||||
|Order ofMalta Scotland|1,020|-|-|1,020|-|
|British Legion Poppy DayAppeal|100|-|-|100|-|
|StJohns Eye Hospital Bill Hall|250|-|-|250|-|
|Ulster Wildlife Trust|500|-|-|500|-|
|The Big Hoof|10,750|-|-|10,750|-|
|Church of Ireland Hall Appeal|150|-|-|150|-|
|Medecins Sans Frontieres|250|-|-|250|-|
|HeatherTrust|120|-|-|120|-|
|The HesterTrust|-|-|-|-|120|
|Cancer Focus - Carol Service|100|-|-|100|-|
|Greencastle GAA|100|-|-|100|-|
|Ukraine Appeal -MBH|-|-|-|-|1,000|
|MND Association Bike Ride|100|-|-|100|-|
|Sponsorship||||||
|RDAOmagh|850|-|-|850|-|
|Royal British Legion|-|:|-|-|100|
|The Frank Haines Memorial Trust|-|-|-|-|500|
|Got MartarCommunityGroup|-|-|-|-|1,000|
|Gift Operation Motivation|-|-|-|-|1,000|
|Brain Waves NI|250|-|-|250|100|
|Air Ambulance NI|500|-|-|500|100|
|Foyle Hospice|-|-|-|-|1,200|
||21,620|-|-|21,620|5,520|



11 

## THE BELTRIM CHARITABLE TRUST NOTES TO THE ACCOUNTS (cont'd) 

## 5 April 2025 

## 5. RENTAL EXPENSES 

|||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
|||Funds|Funds|Funds|2025|2024|
|||£|£|£|£|£|
|Repairs||1,705|-|-|1,705|1,257|
|Rates||534|-|.|534|838|
|Insurance||515|-|-|515|-|
|||2,754|-|-|2,754|2,095|
|6.|OTHER EXPENSES||||||
|||Unrestricted|Restricted|Endowment|Total|Total|
|||Funds|Funds|Funds|2025|2024|
|||£|£|£|£|£|
|Accountancy and independent||2,280|-|-|2,280|3,200|
|examiner fees|||||||
|||2,280|-|-|2,280|3,200|
|7.|LEGALAND PROFESSIONAL FEES||||||
|||Unrestricted|Restricted|Endowment|Total|Total|
|||Funds|Funds|Funds|2025|2024|
|||£|£|£|£|£|
|Lease fees||1,369|-|-|1,369|.|
|||1,369|-|:|1,369|-|



## 6. OTHER EXPENSES 

## 7. LEGAL AND PROFESSIONAL FEES 

12 

THE BELTRIM CHARITABLE TRUST NOTES TO THE ACCOUNTS (cont’d) 

5 April 2025 

8. NET GAIN ON INVESTMENTS 

||2025|2024|
|---|---|---|
||£|£|
|Revaluation ofinvestments<br>Addition ofinvestments|3,338<br>8|(54,426)<br>-|
||3,346|(54,426)|



9. INVESTMENT PROPERTIES 

|Fair Value||
|---|---|
|At6April2024|412,299|
|At5April2025|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 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 £412,299. 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. 

## 10. INVESTMENTS 

Listed Investments £ Cost At 6" April 2024 575,089 Additions 8 Disposals - Gain on revaluation 3,338 At 5 April 2025 578,435 Carrying amount wrennenneann At 5" April 2025 578,435 At 5" April 2024 575,089 

13 

## THE BELTRIM CHARITABLE TRUST 

## NOTES TO THE ACCOUNTS (cont’d) 5 April 2025 

## 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 

|11. DEBTORS: AMOUNTSAMOUNTS FALLING DUE WITHIN ONE YEAR|||
|---|---|---|
||2025|2024|
||£|£|
|Rental accounts|1,333|1,333|
|Establishment ofPaddyAcceleratorcharity|16,612|13,140|
||17,945|14,473|



## 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 

|||2025|2024|
|---|---|---|---|
|||£|£|
|Rental|deposit held|385|385|
|Sundry|creditors and accruals|4,753|6,793|
|||5,138|7,178|



## 13. PAY AND REMUNERATION 

The Trust has no employees. None of the Trustees receive any remuneration or claim any expenses from the Trust. 

## 14. 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