REGISTERED COMPANY NUMBER: N1659012 (Northern Ireland)
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 March 2024
ror
ASSUMpfioN SCHOOL TRUST
M.B.McGrady & Co
Chartered Accountants
Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. AntriTn
BT9 6GH

ASSUMPTION SCHOOL TRUST
Contents of the Fin2ncial Statements
FOR THE YEAR ENDED 31 MARCH 2024
Page
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Finan¢i21 St2tements
7 to 11

ASSUMPTION SCHOOL TRUST
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2024
The tn￿teeS who are also directors of the chartty for the purposes of the Companies Act 2006, present theiT report with
the fmancial statements of the charity for the year ended J l March 2024. The trustees have adopted the provisions of
Account2ng and Reporting by Chatities: Statement of Recotnmended Practice applicable to charitie5 preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
(effective l January 2019).
The trustees Teport and fllwicial statements are also prepared to meet the requirements for a directovs report and
accounts for Companies Act pury0￿.
OBJECTIVES AND ACTIVITIES
Objectives and aitns
The charitable objects for which the ch￿lty is estsblished are the promotion and advancement of edllcation through:
a) undertaking the office of and acting &8 Trustee of Assumption Grdmmar School Ballynahinch and all lands and
buildings vested in it.
b) promoting and advancing the Catholic vision of education and developing the ethos, philosophy and values of the
Assumption tradition in Assumption GrarnM￿ School Ballynahinch.
Public benefit
The trustees have Teferred to the guidance contained in the Charity Commission'5 general guidance on public benefit
when reviewing the chartty's aims and objectives and in platming its future activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities and achievements
The charity Continued their work in the promotion and advancement and suppon of Catholic education in the tradition of
the Missionary Sisters of the Assumption in the Assumption Gramtnar School, Ballynahinch. It supported the Board of
Governors of the School throughout the year to fi￿ther these aims and objectives.
FINANCIAL REVIEW
Financi31 position
Overview of the year
Income and expenditure
Total incoLning resources in the period ended 3 1st March 2024 wls nil. Total incoming resources in the period ended
31st March 2023 was nil.
Total resources expended in the period ended 3 1st March 2024 w&s £1.165. Totsl resources expended in the period
ended 3 1st March 2023 was £1,861
Balance sheet
The balance sheet had net assets of £3,047,661. Unrestricted fijnds amount to £47,661 and Endowment fimds totalled
£3,000,000.
Reserves policy
The Board of Trustees has established a policy whereby the Unrestricted Funds not committed or invested in tangible
fjxed assets for charity use {'the free reserve5) held by the Company should be between 3 and 6 months of the resources
expended. At this level. the Trustees feel that they would be able to colltinue the cu￿ent activities of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing docurnenL a deed of In￿¢ and Constitutes a limited Company. limited by
guarantee, as defined by the Companies Act 2006.

ASSUMPTION SCHOOL TRUST
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Trustee body
There are currently eight trustees (who are also the directors of the COTnpany for the PUTpose of company law) who
oversee the activities of tbe charity. Trustees give their time voluntarily and receive no benefits from the charity.
Trustees Work within the code of conduct and good practice as set out by the Charities Commission.
None of the trustees has any beneficial interest in the charity. All of the trustees are members of the charity and
guarantee to contribute £1 in the event of a winding up.
Due to the nature of the charity's work the trustees seek to ensure that these needs are appropriatety reflected through the
diversity of the ttustee body. To elthance the potential Fx)ol, trnstees are requested to provide a list of their skills (and
update it each yeaT) and in the event of particular skills lacking or being lost due to retlTement, individuals are
approached to offer themselves for election.
REFERENCE AND ADMINISTRATIVE DETAllS
Registered Company number
N1659012 (Northern Ireland)
Registered Charity number
108349
Registered office
clo M B McGrady & Co
Rathmore House
52 St Patrick's Avenue
Downpatrick
Co. Down
BT30 6DS
Trustees
Sister M Carville Catholic Nun
Mrs P M Casement Managing Director
Mrs S Crea Retired School Principle
Miss C Fitzpatrick Solicitor
J FitZ5imons Retired Civil Servant
Mrs M Kelly Retired School Teacher
P Strnin Retired Bank Manager
M B T McGTady FCA Accountant
Independent Examiner
M.B.McGrady & Co
Cli<lltcicd AccotuitantS
Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. Antri
BT9 6GH
COMMENCEMENT OF AcfiviTIES
The charity was incorporated from 13th February 2019 and commenced its charitable activities from that date.

ASSUMPTION SCHOOL TRUST
Report of the Trustee5
FOR THE YEAR ENDED 31 MARCH 2024
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating
to small COTnpanies.
Approved by order of the board of trustees on 16 Decelnber 2024 and signed on its behalf by:
P Strain - Trnstee

Independent Exan]iner's Report to the Trustees of
Assulnption School Trust
I report on the accounts of the Company for the year ended 31 March 2024, which are set out on pages I to I I
Respective responsibilities of charity trustees and examiner
As the Charity trnstees (and also the directors of the company for the purposes of company law) you are responsible for
the preparation of the accounts in accordance with the requireTnents of the Companies Act 2006. Having satisfied myself
that the charity is not subjecl to audit under company law. and is eligible for independent exaniinatioTh, it is my
responsibility to-
examine the accounts under section 65 of the Charities Act 2008
- follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under
section 65(9){b) of the Charities Ar.t ?OflR
state whether particular matters have come to my attention.
Basis of independent examinevs report
I have examined your charity accounts as required under section 65 of the Charities Act 2008 and my examination was
carried out in accordance with the general Directions given by the Charity Commission for Northem Ireland under
section 65(9)(b) of the Charities Act 2008. The exaniination included a review of the accounting records kept by the
charity and a comparison of the accounts presented with those records. It also included con5ider&tion 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:
l. That accounting records were not kept in accordance with section 386 of the Companies Act 2006
2. That the accoiints do not accord with those accounting records
3. That the accounts do not comply with the accounting requirements of section 396 of the Conjpanies Act 2006 and
with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing
their accounts tn accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
4. That there is further inforn]ation needed for a proper understanding of the accounts to be reache(I
Independent examinels statement
I can confirni that J am qualified to undertake the examination because I am a registered meniber of Institute of chartered
accoiinlants Ireland which is one of the listed bodies.
I liave completed rny examination and have no concerns in respect of the matters (l) to (4) listed above and, in
connection with following the Directions of ihe Charity Commission for Northern Irelan￿ I have found no matteTS that
require drdwing to your attention.
-n4( tLk
Seainus McLernon FCA
M.B.McGrady & Co
Chartered Accountants
Suite 2B
CadogaTh House
322 Lisburn Road
Belfast
Co. Antrim
BT9 6GH
16 December 2024

ASSUMvfioN SCHOOL TRUST
Statement of Financi21 Activities
FOR THE YEAR EIYDED 31 MARCH 2024
31rJ124
Total
funds
3113123
Total
funds
Unrestri¢ted Endowmenl
(und
fund
Notes
EXPENDITURE OIY
Charitable activities
Charitable
1,165
1,165
1,861
NET IIYCOME/(EXPENDITURE)
(1,165)
(1,165)
(1,861)
RECONCILIATIOIY OF FUNDS
Total funds brought forW￿d
48.826
3,1)00,000
3,048,826
3,050,687
TOT AL FUNDS CARRIED FORWARD
47,661
3,000,000
3,047,661
3,048,826
The notes forn] part of these financial statements

ASSUMPTION SCHOOL TRUST
B21ance Sheet
31 MARCH 2024
3113124
Total
funds
3113123
Tot21
funds
Unrestricted Endowment
fund
fund
Notes
FIXED ASSETS
Tangible assets
3,000,000
3,000,000
3,000,000
CURRENT ASSETS
Cash at bank
48,669
48,669
49,426
CREDITORS
Amounts falling due within one year
(1,008)
(1,008)
(600)
IYET CURRENT ASSETS
47,661
47,661
48,826
TOTAL A&SETS LESS CURRENT
LIABILITIES
47,661
3,000,000
3,047,661
3,048,826
NET ASSETS
47.661
3,000,000
3,047,661
3,048,826
FUNDS
Unrestricted funds
Endowment funds
47,661
3,000,000
48,826
3,000,000
TOTAL FUNDS
3,047,661
3,048,826
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 March 2024.
The men]bers have not required the company to obtain an audit of its fu￿claI statements for the year ended
3 l March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their Tesponsibilities for
(a)
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparin(r fmancial statements which give a true and fair view of the state of affairs of the charitable company as
at the end of each financial year and of its surplus or deficit for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act
2UU6 relating to fman¢ial statements, so far as applicable io the Charl￿ble CoMp￿y.
(b)
These financial stateTnents have been prepared in accordance with the provisions applicable to charitable companies
subject to the small companies regime.
The fmancial statements were approved by the Board of Tn￿teeS and authorised for issue on 16 December 2024 and
were signed on its behalf by:
P Strnin - Trustee
The notes forn] part of these fllwcial statements

ASSUMPTION SCHOOL TRUST
Notes to the Financi21 Statements
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The fmancial Statements of the charitable company. which is a public benefit entity under FRS 102, have been
prepaTed in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement
of Recornmended Practice applicable to charities Preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (effective l January 2019),,
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in tbe UK and Republic of
Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost
convention.
Expenditure
Liabilities ale recognised as expenditure as soon as there is a legal or constructive obligation comrnitting the
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has
been classified under headings that aggregate all cost related to the category. Where costs cannot be directly
attributed to particular headings they have been allocated to activities on a basis consistent with the use of
resources.
Tangible fixed assets
The assets held at year end relate to the land at Assumption Grammar School Ballynahinch and are not
depreciated.
Tax2tion
The charity is exempt from corporation tsx on its charitable activities.
Fund accounting
UtLrestricted funds can be used in accordance with the charitable objectives at the discretion of the ttustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the natt]re and purpose of each fund is included in the notes to the financial statements.
CHARIT ABLE ACTIVITIES COSTS
Direet
Costs
Support
costs
Totals
Charitable
637
528
1,165
NET IINCOMEI(EXPENDITURE)
Net iThcomel(expenditure) is stated after chargiDgl(crediting)-.
3113124
3113123
Other assurance services
528
480
continued...

ASSUMPTION SCHOOL TRUST
Notes to the Flnancial StatemeDts- continued
FOR THE YEAR EP4DED 31 MARCH 2024
TRUSTEES, REMUNERATION AND BENEFtTS
There were no tsvstees. remuneration or other benefits foi the year ended 31 March 2024 nor for the year ended
31 March 2023.
Trustees, expenses
There were no trustees, expenses paid for the year ended 31 March 2024 nor foi the year ended 31 March 2023.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Endowment
fund
fund
Total
funds
EXPENDITURE ON
Charitable activities
Charitable
1,861
1,861
NET INCOMEI(EXPENDITURE)
(1.861)
{1,861)
RECONCILIATION OF FUNDS
Total funds brought forward
50,687
3.000,000
3,050,687
TOTAL FUNDS CARRIED FORWARD
48.826
3.000,000
3,048,826
T ANGIBLE FIXED ASSETS
Freehold
property
COST
At l April 2023 and 31 March 2024
3,000,000
NET BOOK VALUE
At 31 March 2024
3,000,000
At 31 March 2023
3,000.000
Included in cost or valuation of land and buildinJ is freehold land of £3,000,000 (2023 - £3.000.000) which is
Trot depreciated.
continued...

ASSUMpfioN SCHOOL TRUST
Notes to the Finaneial Statements- continued
FOR THE YEAR ENDED 31 MARCH 2024
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
3113124
3113123
Accruals and deferred income
1,008
600
MOVEMENT IN FUNDS
Net
movement
in funds
At
3113124
At 114n3
Unrestricted funds
General fL￿d
48,826
(1,165)
47,661
Endowment funds
EndowTnent fimd
3.000,000
3,000,000
TOTAL FUNDS
3,048,826
(1,165)
3,047,661
Net tnoyement in fun(Ls. included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
(1.165)
(1,165)
TOTAL FUIYDS
(1,165)
(1,165)
Comparatives for tnovement in funds
Net
movement
in funds
At
3113123
At 114122
Unrestricted funds
General tund
50.687
(1,861)
48,826
Endowment funds
Endowment fund
3,000,000
3,000,000
TOTAL FUNDS
3.050,687
(1.861)
3,048,826
continued...

ASSUMPTION SCHOOL TRUST
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024
MOVEMENT IN FUNDS- CODtiDued
Comparative net movement in funds, iJ)cluded in the above as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
(1,861)
(1,861)
TOT AL FUNDS
(1,861)
(1,861)
A current year 12 months and prior year 12 months combined position is &8 follows:
Net
movement
in funds
At
3113124
At 114122
Unrestricted funds
General fund
50,687
(3,026)
47,661
Endowment funds
Endowment fund
3,000,000
3,000,000
TOTAL FUNDS
3.050,687
(3,026)
3,047,661
A current year 12 months and prior year 12 months combined net movement in fL￿d$, included in the above are
a5 follows:
Incoming
resources
Resources
expended
Movement
in funds
Unr¢stri¢ted funds
General fund
(3.026)
(3,026)
TOTAL FUNDS
(3,026)
(3,026)
io
continued...

ASSUMpfioN SCHOOL TRUST
Notes to the Financial Statements- continued
FOR THE YEAR ENDED 31 MARCH 2024
RELATED PARTY DISCLOSURES
There were no related paty transactions for the year ended 31 March 2024.