A$5UMPTION SCHOOL TRUST Report of the Tru$tee5 FOR THE YEAR ENDED 31 MARCH 2023 Tho Irusloes who are also dir¢¢lors of the charity for Ihe purpose5 of Ihe Companies Act 20061 present Iheir reporl wilh thg financial slalemenls of the ¢harily for the year #Mded 31 March 2023. Th6 Iruslees have adopted the provisions of A¢counting and R8porliMg by Chayilles. Slalem8nt of Recommended Praelice applicable to charities preparing Ihtit a¢¢tyunls in aecordahce wilh Ihe Financial R¢porlin9 Standard applicable in the UK and Republic ol Ireland (FR$ 102) 16ffeclive l January 2019). The Iruslees reporl and financial 51alemonl$ are a150 preparéd to meel Ihe requireMenl$ for a direclor's report and accounts for Companiei Act puiposes. OBJECTIVE5 AND ACTIVITIES Obje¢liveg and aims The charitable obJeol$ for which Ihe eharily 18 established aro thè promotion and advancèmenl of educalion through.. a) und6rlakittg the oifi¢e of and acting as Tru$teé of A5SLtmpliort Grammar S¢hool Ballynahin¢h and all land$ and buildiJgs vested ir4 it, bl piomoling and advancing th& Caiholic vision of education and dgveloping lh6 elhosi philosophy attd v2lues of the Asst4mplion Iradltion in Asgumpllon Grammar School Ballyttahinch. Publi¢ benefit The Irusleeg have referred to the guidancè ootttalned in the Charily Commission's general guidan¢e on public benefit when reviewin9 the charity's aim$ attd obje¢lives and ]# planning its future acllvilies. ACHIEVEMENT AND PERFORMANCE Charilable a¢tivilies artd achiÈvemeMts The ¢harily continued Iheir work in Ihe promolicn and advan¢eMenl and supporl of Calholic educaliort in the Iradillon of the Mis51onary Si51ers of lh& A$sumplion in the A$$umplion Gyammai S¢hool Ballynahlnch, 11 supporled Iho Board of Governors of Iho S¢hool Ihroughoul the y¢ar to furlhor Ihe$& aims and obJ$¢llves, FINANCIAL REVIEW Financlal po$itieN Overview pf the year In¢ome and expendilure Tolal incoming resour¢¢$ in the perlod ended 31 sl March 2023 was nil. Tolal incoming resour¢es in thé period eftd•d 3151 Mai¢h 2022 was nil. Tolal resource5 Èxpended in the period ended 3151 Mar¢h 2023 wa$ £1,881, Tolal resour¢¢s expended in the period ended 3151 Mar¢h 2022 was El 553 Balance sheol The balan¢e 5heo1 had n¢1 a55019 ol £3 018,828, Unre$lricled f4tnds aMoiiiII lo £43,826 and Endowment fund$ tolalled E3,¢)DO,000. Rè$orve$ policy The Board of TryslÈes has èstablished a poliey whereby the Unreslri¢led Fund5 nol ¢omfflilled or invested lattgiblè lixed assets for eharily use Illhè free reserves,) held by the Company should be belween 3 and 6 Monlh$ of the resoLtrc¢$ expended, At Ihis level, thè Truslees feèl that they would bè ablg lo ¢ontlhue the ¢urrenl a¢livilies of the charity. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing documenl The charity IS ¢cnlrolled by its 9ovetning do¢umenlt a deed of Irusl, and ¢onstilutes a limited companyN limiled by guarantee, a$ defined by Ihe Companies Ael 2006.
ASSUMPTION SCHOOL TRUST Reporl of the Trusleos FOR THE YEAR ENDED 31 MARCH 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT rrusle& body There are currently eighl Iruglees (who are also the direclois of Ihe company for Ihe purpose Of ¢oMpany lawl who oveysee Ihe aclivilles of the Charlly. TYu$lets give Iheir lime voluntarily and receive ho benefils from Ihg oharily. Tru51ees work wiihin the eode of conduct and good praclicè a$ sel out by the Charilio$ Commi$$ion. Nono of the Irusteeg has any benefi¢ial inleresl in the charily. All of the Iru51ee5 are member5 of the charily and guarante8 to cohtribulè El in the evenl of a wihding up, Due lo lh& nalure of Ihe ¢harily'S woik Ihe Iruslees seek to en$ure that Ihese needs aro apwoprlalely r¢fie¢led through Ihe diversity ol Ihe Iruslee b¢dy, To enhance the potential pool, tf1151ee5 are requested lo provide a lisl of Iheir skTll$ land updale it each yoarl and In th8 event of parli¢ular skills lackins or being losl due lo reliremenli individuals are approachèd to ofler themselves for eleclion. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company numbey N1659012 (Northern Ireland) Registered Charity nurnbpr 108349 Registered office ¢10 M B MoGrady & Co Ralhmora House 52 Sl Palrickl$ Avenue D&wnpalri¢k Co, Dovm BT30 6DS Trustees Sisler M Carville Calholio Nun Mr$ P M ¢a$emenl Managing Diroclar Mr$ S Crea Retired SGhool Prih¢ipl8 MT99 C Fitzpatrick Solicilor J Filxsimons Relired Civil SÈrvattl Mr$ M Kelly Relired Sghool Teacher P Slrain Reliied Bank Manager M B T McGrady FCA A¢¢ounlahl Independ¢nt Examiner M,B,McGrady & Co Chartered Accounta1$ Suite 23 Cadogan Hous 222 Li5burn Road Bolfasl Co, Anlrim BT9 6GH COIVIMENCEMENT OF ACTIVITIES The charily was incorporated from 131h Pebruary 2019 and ¢ommert¢¢d 11$ ¢harilable aclivilie$ from Ihal dale.
ASSUMPTION SCHOOL TRUST Report of thè Truslees FOR THE YEAR ENDED 31 MARCH 2023 This report has béen propared in ac¢ordah¢b wilh the special provisiong of Parl I S ¢1 the Companip5 Acl 2006 relaling to small ¢gmpaDie5. Apprtsved by order of th8 board tsr Iru8leos on 22 De¢eMtsei 2023 and slghed on ils behalf by: P Strain . Truglee