REGISTERED COMPANY NUMBER: N16590q2 {Norlhern Ireland)
Report of the Trustees and
Unaudited Financial 51atementS
for the Yoar Ended 31 Mar¢h 2023
for
ASSUMPTION SCHOOL TRUST
M.B.McGrady & C¢
CharlÈréd Aecountaht$
Suilo 2B
Cadogan House
322 Li5burtt Road
Belfa5l
Co, Anlrim
BT9 8GH

ASSUMPTION SCHOOL TRUST
Conleht$ of the Fihancial Statements
FOR THE VEAR ENDED 31 MARCH 2023
Pa9e
Report of the Tru$tee$
Independeni ExaMiner15 Reporl
Slat¢m¢nl of Financial Activilie$
Balan¢e sheet
Note$ to the Flnancial Stalement5

ASSVMPTION SCHOOL TRUST
Report ol the Yrugtees
FOR THE YEAR ENDED 31 MARCH 2023
The Iruslees who aro also direclors of the eharity for the purposeg of the Companlès A¢1 20061 pre6enl Ihelr report wilh
Ihe financial 8lalernenls of Ihe charily for tho ytar ènded 21 March 2023. Tho Irusle8s have adoplod the provisions of
A¢¢ouMting and Reporllmg by Chariliès.. Staleme￿I of R¢¢ommertd8d Pracli¢e applicable to ¢harilies preparing Iheir
a¢counl$ in a¢¢ordance wilh the Fitr)aneial Reporling Slandard appli¢able in the UK and Republic of Ireland IFRS 102>
{effe¢live l January 2019),
The Iru8l¢e$ report ahd linan¢ial $laleMenls are al$0 prepar¢d lo meet the reqt4iremenlJ for a director's rpporl and
a¢counls lor Compahi8S Act purpose5.
OBJECTIVE5 AND ACTIVITIES
Objectives and aim$
The ¢haYilable obiecls for whi¢h the charily18 e$labli$hed arè the promotion and advincemenl of education throu9h:
a> undertaking the oifice of and acting a$ Truslee of A$$uMpli0￿ Grammar S¢hool Ballynahln¢h and all land5 and
buildings vested in it.
bl promoting and advan¢in9 the Catholi¢ vi$ion of educalion and doveloping the elhosi philosophy ond values of th6
As$umplion Iradillon in A$$umplion Grammar $oh¢ol Ballynahin¢h.
Publi¢ bènefit
The tYu$tees have referred to thè guldan¢e ¢onlained In the Chariiy Commission'5 general guidance on public benefit
when reviewing th¢ eharily's aims and obJeelivo$ and in planning Èls future a¢livilies.
ACHIEVEMENT AND PERFORMANCE
Charilable activitie5 and achièvements
The chariiy cgntinued their woik in the ptornoliott and advan¢ement and supporl of Catholic education in the Iradilion ol
Ihe Mi551onary Si51eY$ of lh& A95UMplion in the A55UMPlion Grammar School Ballynahlneh. 11 $upporled Ihe Board ol
Governgrs of the School Ihroushoul the year lo further Ihese aims and obJo¢livo$.
FINANCIAL REVIEW
Flnancial position
Overview of lh¢ year
In¢ome and expehdilt41e
Total ineoming resources In the period ended 31$1 MaY¢h 2023 was nil. Total ill¢OMing rèsour¢es in thè period èndèd
31sl Mareh 2022 was nil,
T¢lal resource5 expended in tho period ended 31$1 March 2023 wa$ £1,861, Total re$our¢o1 expended in the period
nded 31 sl Mar¢h 2022 was £1,353
Balance sheel
The balance sheet had n&t assets 01 £3,048,B26. Vnreslricled funds amount 10 £48,826 and Endowmenl fund$ tolalled
£3,000,000.
Rèsorvej policy
The Board of Tru51èè5 ha5 eslabll$hed a poliey whereby the Unreslrivled Fund5 not commSlled or invested in langible
fixed assèls for charity Use I'the free reseTves') held by Ihe Company should be belween 3 and 6 month8 of the resources
expended. At Ihis level, the Truste8s feel Ihal they would bè ablo lo ¢¢nlinue Ihe ¢urrenl a¢livilie$ of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing dD¢ument
The charily 15 Gonlrolled by ils governing dacumenlj 3 d8ed ol Irusl, and conslilule$ a limited eompanyi limiled by
guaranlee, as defined by the CoMPahies A¢t 2006.

ASSUMPTION SCHOOL TRUST
Report of ihe Trust¢¢s
FOR THE YEAR ENDED 31 MARCH 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Trustee body
There are ¢urrently eight Iru$lee5 (who are al$0 thÈ director5 of the ¢ompaMy lor Ihe purpose of ¢oMpany law) who
oversee the activitle$ of the eharily, Truslees glve their lime voluntarily and receive no benefits liom Iho ¢haYily,
Truslee$ work within tho ¢od¢ of ¢ondu¢t and good praeli¢o 8$ sot oul by Ihe Charities Comml$$ion.
Ncn8 of Ihe Iruslees ha$ ahy beneficial interest thè Charily. All of the tru$lees are member5 of the charily and
gutiamleo to cot)Iribule £1 in the evenl of a winding up.
Due lo the nature of Iho ¢harTly'S work the Irusl¢e$ seek to ensure that these need$ are approprlalely reflected Ihrgugh Ihe
divèrslly of the Iruslee body. To enhattce the potential pool, truslee5 are requested lo provide a lisl of Ih¢ir $kill$ land
update it ¢a¢h year) and in the even¢ of parli¢ular $kill$ lackins or being lu81 due lo reliremenl, individuals are
approachèd to offer themselves for ele¢lion.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company numbBr
N1639012 (Northern Ireland)
Regi$tered Charily number
108349
Regi$tered offi¢e
clo M B McGrady & Co
Ralhmore House
52 51 Palrl¢kl$ Avenue
Dowhpalrick
Co. Down
BT30 6DS
Trusleei
Sister M Carville Calholic Nu
Mr5 P M C35emenl Managing Direclor
Mi$ S Crea Retired School Principl¢
Mi$$ C Fil%palri¢k Solicitor
J FIIz$iMons Retired Civil Seivanl
Mrs M K¢lly Retired S¢hool Teaeher
P Strain Retired Bank Manager
M B T McGrady FCA A¢counlanl
Indppend8nl Examiner
M.B.McGrady & Co
Chartered A¢¢ounlanls
Sulle 2B
Cadogan Hou5Q
322 Lisburn Road
B6lfa$l
Co. Anlrim
BT9 6GH
COMMENCEMENT OF ACTIVITIES
The charily was incorpoialod liom 13th February 2019 and ¢OMmen¢ed ill eharilable a¢livilie8 from Ihal dale.

ASSUMPTION SCHOOL TRUST
Report of the Tru$lees
FOR THE YEAR ENDED 21 MARCH 2023
This reporl has b¢en propared accordaM¢e wilh Ihe special provi$ionF ol Parl 15 of the Companie5 Acl 2006 rtlaling
to Small companies.
Approved by order of the board of Iru61ees on 22 December 2023 and Signed on 11$ behalf by:
P Strain . Truslee

Independent Examiner'5 Report to the Truslep5 of
Assumption School Trust
report on the a¢¢ourtl$ of thè Company for the year ended 31 Mareh 20221 which are sel oul on pages t lo I I
Respecliva responsibilities ol ¢harily Iruslttes and examiner
As Iho chaiily Iru51ees land also Ihe dire¢lor$ ol Ihe ¢ompany lor the purpose5 of eompany law) you are rosponsible lor
the preparalion ol Ihe a¢cciunls in ac¢erdanoe with the requireMen19 of thè Companies Act 2006. Hav&ng satisfied mys611
thal the ¢harity 1$ nol subjacl lo audil urtder Company law, and 15 eligible lor independehl examinalion, il is my
responsibilily Io:
examine the accoun15 under se¢llon 66 of the Charilies A¢1 2008
follow Ihe pro¢edur&$ lald down in Ihe general Dire¢lloh$ glven by the Chaiity CoMmi$$ion for Norlherh Ireland under
Se¢tiOh 6619)(b) of the Charities A¢1 2008
stale whelher parlieylar mallers have come lo my allenlTQn.
Basis of imdepèndenl exaMintr'5 report
have examined your charily ac¢ounl$ a$ required under secllon 65 of the Charili¢$ A¢1 2008 and My examinalion wai
carried oul In accordance with Ihe general Direclions yiven by the Charity Commission lor Norlhern Ireland under
seclion 65191(b) of the Charilie$ Ael 2008. Th8 ￿aMInatIon included a revi•w of the ac¢ounling re¢ords kepl by Iho
eharily and a comparison of the a¢coun15 presented with those r¢¢¢rd5. 11 al60 included eon$ideralioM of any unusual
items or disclosures tho a¢¢ounlgft and seekiny explanalioN$ from you ag charily Irus16es ¢on¢erning aNy such mallers.
My rolè Is 10 51ale whelher any malerlal Mallèrj have come lo my atlènlion giving me cause lo b81iève;
l. Thal accounting records were hol kept in accordance wilh seclion 386 of the CoMpanlè$ Acl 2006
2. Thal Iho aceounls do nol aG¢ord with Ih05e accounling re¢¢rd$
3. Thal Ihe a¢¢ounls do not ¢omply wilh the Q¢¢OLtnling rgquiremenls ol ieclion 398 of Iho Companies Acl 2006 and
with the Method5 and prin¢iple$ of Ihe Charilie5 Stalemehl ol RecommendÈd Pra¢li¢è appll¢able lo charilies preparing
their a¢¢oyn15 in accordance wilh the Finan¢ial Reportin9 Standard appli¢able in the UK and Republic of Ireland
4, Thal there is fLtrlher irtformallon néeded for a proper underslanding of the accounls lo be reached.
Indepertdenl examitr)er's sldlernenl
catt confirm thal l am qualified lo undertake the &xaminalion because l am a regislered Mèmber of Inililule of charlered
a¢eounlanls Ireland whi¢h is ohe of the lisl&d bodies.
have ¢ompl¢led my ¢xaMinalion and have n? ¢on¢erng in respecl of th8 mallers (11 to {4) li$tgd 8bov& and, in
¢onne¢lion wllh following the Dire¢li¢n$ of th¢ Charily Commission lor Northern Ireland I have found no mallers Ihal
requlre drawing to your attention,
JLft@Jts
Sèamus M¢Ler#on FCA
The In51ilule ol Chartered A¢¢ounlahls in Ireland
M.B.M¢Grady & Co
Charlered Aeeounlants
Suite 2B
Cadogan Hous&
322 Lisburn Road
361fa$t
Co. Anlrim
BT9 6GH
22 De¢¢Mbèr 2023

ASSUMPTION SCHOOL TRUST
Statement of Financial Activities
FOR THE VEAR ENDED 31 MARCH 2023
2113123
Total
funds
3113122
Total
lund5
Unrestricted Endowmenl
fU￿d
fund
Note$
EXPENDITURE ON
Charilab18 activities
Charitable
1,861
1,861
1,563
NET INCOMEIIEXPENDITUREI
{1,8811
(1,861)
11,S531
RECONCILIATION OF FUNDS
Total fuMd$ brought forward
50,68Y
3,000,000
3,050,687
3,062,240
TOTAL FUNDS CARRIED FOIiWARD
48,826
3,000,000
3,048,828
3,050,687
The noltrs form parl of thèse linanei81 slalem¢nl$

ASSUMPTION SCHOOL TRUST
Balan¢e Sheel
31 MARCH 2023
3113123
Tolal
fund5
3113122
Total
lunds
Unr6$trieted Endowmenl
fund
fund
Nol61
FIXED ASSETS
Tangible a$sels
1,000,000
3,000,000
3,000,QOO
CURRENT ASSETS
Cash al bank
49,426
49,426
51,187
CREDITORS
Amounls fallin9 due wilhin one year
{6001
{6001
(480)
NET CURRENT ASSETS
48,826
48,826
50,687
TOTAL ASSETS LESS CURRENT
LIABILITIES
48,826
3,000,000
3,048,82fj
3,050,687
NET ASSETS
48,826
3,000,000
3,048,826
3,050,587
FUNDS
Unreglri¢led funds
Endowmenl funds
18,826
3,000,000
50,687
3,000,000
TOTAL FUNDS
3,048,826
3,050,687
The charitable ¢OMpahy 15 entilled lo exeMplTOn from audit under Se¢lioM 477 of the Companie$ A¢1 2006 for thè year
ended 31 March 2023,
Th8 members have ttol required the ¢ompany lo oblain an audit of ils linancial slalèmenls for Ihè year ended
31 March 2023 In accordanee wilh Se¢lion 478 of th8 Companies A¢t 2006,
The Iruslee5 acknowledge their responsibilities lor
en5yring Ihal tho Gharitsblo eompany keop$ ae¢ounling records Ihal ¢QMply wllh Seclion$ 386 and 387 of lh8
Companies Act 2006 and
preparing linaneial slaleMenl$ whi¢h give a true and lair view of Ihe slate of affair$ of Ihè eharilablè company as
al tha ertd ol ea¢h finan¢ial year and of ils surplu$ or defi¢il for each financial year Fn aecoidanee with Ihe
requireme￿15 of Settiions 394 and 395 and whi¢h olheiwl$e comply wilh the requirements of Ihe Compamies Aet
2096 rel81ing lo financial $lalem¢nl$i so far as applicable lo the Charitable ¢ompany.
(b)
These linaneial $lalemenl$ have been prepared in a¢¢ordahce with the provisioni appli¢able lo eharilable companies
subjecl lo lh8 $mall eoMpanie5 re91111E,
The financial slalemenl$ were approvod by lh8 Board of Tru$lie$ and aulhori$ed for i8$ue on 22 De¢ember 2023 and
weye signed Oh Ils behalf by:
P Slrain . Truslee
The noles fonn parl of these finaneiil slalèmen15

ASSUMPTION SCHOOL TRUST
hTole$ to the Finan¢ial Stalement5
FOR THE YEAR ENDED 31 MARCH 2023
ACCOUNTING POLICIES
Basis ol preparing the financial statèm¢nls
The financial slalémenls of the charilable ccmpanyi which is a public bonofil tnlily under FR5 101, have been
prepared in a¢¢prdan¢e with the Charilios SORP IFRS 102) IA¢¢ounting and Reporlin9 by Charilio$: Slalemenl
ol Re¢oMM¢xdpd Pra¢lice appli¢able 1¢ ¢harilies preparing Ihèir ae¢ounl$ In a¢¢ordaM¢e with the Financial
Reporting Slandard applicable in the UK and R¢publiG of Ireland (FRS q021 (eflective l January 2019}',
Financial Reporlirtg Standard 102 IThe Financial Reporling Slondard applicablè irt thè UK and Republic of
Irelandl and the Companie5 Act 2006, ThÈ finatteial slalemenl$ have been prepared under the hi$tori¢al ¢o$t
eonvenlion.
Expenditure
Liabililies are re¢ogni$ed a8 expenditure a$ 500n a6 Ihere 1$ a legal or conitruclive obli9ation commilling th•
charily lo Ihal eXPQMdilure, il is probable Ihal a tran9fèr of ecoMoMi¢ benèfill will be required in selllemenl and
Ihts amount of the obligalion can be Measured reliably. Expenditure is accounted fcr on an aeeruals bt$i$ and has
beeh ¢la$glfied uhder headings Ihal aggyegale all oo$l related lo tho ¢alegory, Where ¢osls eannol be dlreelly
atlribuled lo particular heading5 Ihey have been allocaled lo aclivilie5 on a basis consislenl with th• usè of
resour¢es,
Tan9iblg lixed a$$et$
The assèts hald at year ehd relale lo thè land at Assumption Grammar School Ballynahinch and are not
depreciated.
Taxation
Tho ¢harily is èxempi fiom ¢orporalion lax on 11$ charitablé attlivllie9.
Fund accounting
Unrè$lri¢led lunds ¢an bo u$ed in accordance with Ihe charilablè obi¢¢live$ at the di6¢reli¢n ol Ihe Iru$le¢$,
RestrlGled lunds ¢an only be uied foi parlieular re$lri¢led purp0$6s wilhin Ihe obiecls of Ihè charlly. Reslylcliong
arise when specified by lh• donor or when funds are raised for parlicular reslri¢l¢d purposes.
Fuilher explafialion of Ihe nature and purpo$e of each fund 1$ ineluded in the notes lo the finan¢ial $laleM¢nls,
CHARITABLE ACTIVITIES COSTS
Direct
Co$ls
Supporl
¢05t$
Tola15
Qharilablo
1,381
480
1,861
NET INCOMEIIEXPENDITURE)
Not ill¢OMel(expendilurel is slatèd aflèr ehargiNgll¢ieditingl',
3113122
3113122
Olher assurance sèrvi¢e$
480
480
conlinued...

ASSUMPTION SCHOOL TRUST
Noles lo Ihe Financial Statemenls . continued
FOR THE YEAR ENDED 31 MARCH 2023
TRUSTEESI REMUNERATION AND BENEFITS
There were no Iru$lè69' f8Muneralion or olher beneli15 for Ihe year ended 31 March 2023 nor for Ihe yeai ended
31 March 2022.
Truslees expenses
There weye no truslee$' expense$ paid lor thè year ended 31 March 2023 nor lor the year ended 31 March 2022.
COMPARATIVES FOR THE STATEMEPJT OF FINANCIAL ACTIVITIES
Unre$tri¢ted Ettdowmenl
fund
fund
Total
lunds
EXPENDITURE ON
Charitable acliviti¢$
eharilable
1,553
1,653
NET INCOMEI(EXPENDITURE}
{I,S531
{1,553)
RECONCILIATION OF FUNDS
Tolal lunds broughl forward
52,240
3,000,000
3,052,240
TOTAL FUNDS CARRIED FORWARD
SO,8B7
3,000,000
3,050,887
TANGIBLE FIXED ASSETS
Freehold
property
COST
Al l April 2022 and 31 Mar¢h 2023
3,000,000
NET BOOK VALUE
At 31 March 2023
3,000,000
At 31 Maroh 2022
3,000,000
InclLtded in Cosl cr valualion of land and buildings 15 freehold land of £3,000,000 12022 £3,000,000) whi¢h is
nol depre¢ialed,
conllnued.,.

ASSUMPTION SCHOOL TRUST
Noteg to the Financial Statemenl5. continued
FOR THE VEAR ENDED 21 MARCH 2023
CREDITORS. AMOUNT5 FALLING DUE WITHIN ONE YEAR
3113123
3113122
Accruals and deferred ihcomè
600
480
MOVEMENT IN FUNDS
Net
movement
in funds
At
3113123
At114122
Unre5tYi¢led lunds
Gerter21 fund
50,687
(1,B611
48,826
Endowmenl funds
Endowmenl fund
3,000,000
3,000,000
TOTAL FUNDS
3,050,687
(1,881)
3,048,826
Nel movement in funds, included in Ihe abovo are as follow$:
In¢oming
resour¢e$
Resour¢o1
expended
Movement
in funds
Unre5lrlGlod lunds
General fund
(1,861 }
<1,861)
TOTAL FUNDS
(1,861 }
{1,861)
omparatives lor movemehl in furtd$
Net
movement
in funds
Al
3113122
At114121
Unreltrieted funds
Genéral IL4nd
52,240
(1,5531
50,687
Endowment funds
Endowm¢nl fund
3,000,000
3,000,000
TOTAL FUNDS
3,OS2,240
11,553)
3,050,88Y
¢Ohlinued...

ASSUMPTION SCHOOL TRUST
Note5 to the Finan¢ial Sialemehts . ¢ontinued
FOR THE YEAR ENDED 31 MARCH 2023
MOVEMENT IN FUNDS. continued
Comparalive nel movemenl funds, in¢luded in Ihe above ale as follow$:
Incoming
re50t4rces
Re$our¢e$
expended
Movempnt
in fund$
Unre51ricled fund5
General fund
11,563)
{1,553)
TOTAL FUNDS
11,5S3)
(1,853)
A ¢urr¢hl year 12 monlh$ and prior year 12 month$ cornbined posiliom is as follows:
Nel
movemenl
in fund$
At
3113123
At114121
Unreslricted fuhds
General114nd
52,240
(3,4141
48,826
Ertdowment fundi
Endowm8nl fund
3,000,000
3,000,000
TOTAL FUNDS
3,052,240
13,414)
2,048,826
A currenl year 12 monlh$ and prior year 12 month$ ¢ombined nel movemehl in funds, Included in Ihe above are
a$ follow$'.
In¢¥ming
re$aurce$
Re$our¢es
expended
Mov¢mgnt
in funds
Unr4slri¢led fund$
Genèral fund
(3,414)
(3,4141
TOTAL FUND5
(3,4141
(3,4141
io
onllnued,,,

ASSUMPTION SCHOOL TRUST
Notes to IhE Financial Stalemenls . continued
FOR THE YEAR ENDED 31 MARCH 2023
RELATED PARTY DISCLOSURES
ThÈro w¢ro no relaled parly 1ran5aclions lor Ihe year ended 31 March 2023.