REGISTERED COMPANY NUMBER: Nt659012 (Northern Ireland) Report D(theTrnstxy lod Ullaudlt¢d FIMnelftl Ststements for the Yegr Knded 31 March 2025 for Ag8ump¢ioD Schty)ITnLryt m.B.McGrY & Co Suite 2B CadoganHous¢ 322 Lisbum Road B¢lfast Co. Antsim BT9 6GH
Assumptlon School Trwt Contents of the fi in4n¢ial Statements for the YeAr Knded 31 March 2025 Page Rwort of the Thistees Independent Ki•mineVs Report Statement of nancIal Aetivlties Balanee Sheet Notss to the F*DAnci#l Statements 7 to 11
Assumption School Trust (Registered numbev: N1659012) Report of theTrustees for the Year Ended 31 March 2025 The trust¢¢s w&0 are also directorn of the charity for the ppOSeS of the Comyanics Act 2006, present their rep)rt with the fUn¢1&1 statements of the charity for the year endd 31 March 2025, The trustees have adopted the provision8 of Accounting and Reporting by Clwities: Ststement of Recommended Practice applicable to choriti¢s preparin8 their aGWUDts in accordance with the Financi81 Reporting Standard applicable ti) the UK and Republic of Ireland (FRS 102) (effe¢tivc l January 2019). The trustees report and financial statements are also prepar¢d to meet the requirements for a director's report and aourtts for Companies Act pL)0$C5. ORJfi cfivES AND AcfiviTIES Objectlves and Aims The ¢h8ritable objects for whicb the charity is establishd are the promotion and advancement of education through,. o) Ulldertfiking the office of and acting as Trustee of Assumption Grammar School BallynahinGh and all land5 and butldings vested in it b) promoting and advancin8 tbe Catholtc ViAion of education and developtng th¢ ¢thos, philosophy atld values of the Assumption traditiort in Assumption Grnmmar Scbry)l BallynabitL¢h. Pltblic benefit The tNste¢s have refrrred lo the giiidance Gontained iti the Charity Commission's general guid4a¢¢ on publi¢ benefit when reviewing the charity'5 aims aud objectives 8nd in planning its futu aL#ivities. ACHtEVEMEvfs APID PERFORMANCE Charltsble adivities and aehievements The charity contittiied their wod( in the pmmotion alld advancemeot and supp)rt of Catholic education ITh the tradition of the Missiutt8ry Sisters of the Assuinption Èn the Assumption Grammar School, Ballynabinth. tt sitpported the Board of Governots of the School tiOll8h0Ut the year to further these aims and objectives. FINANCIAL REVIEW Financilll position Ov¢ryiew of the year Income irid expenditLire TO incorning reSoUrS ID the periol ¢nded 31st l&AaTth 2025 was nil. Totsi incoming resouw¢s in the perKJd ellded 3 1st Mar¢li 2024 was nil. Total r¢sourcas expellded in the period ended 31st March 2025 w&8 £1,565. Totsl resources expended in th¢ period ended 31st Mprch 2024 was £1,165 Balance 51ieet The balance sheet had net wets of .046,096 unStriCted fimds amount to £46.096 und Endowment funds totall¢d £3,000.000. Reserves policy The Board of Trustees has estsblished a policy WhebY the Unrestrided FuThds not committed or illv&8ted in tangible f¢d assets for charlty use Cthe free reserves) b¢ld by tbe Company SIll1d b¢ between 3 and 6 months of the r¢sources ¢xpended. At this level, the Th¢5 f¢el that they wwld be able to continue the rrent activities of the ohfjrity. STRURE GOVERNANCE AND MANAGE(ENr Governing doeumellt The chdrity is controlled by its governing documeDL t deed of trusL aDd co[lrt¢s a limitsl company. limitejj by guaran¢e4 4$ defined by the Companies Act 2006.
knumptlon School Tnt Oiegistered number: N1659012) Report of the Truste¢y for th¢ Y¢pr Ended 31 2025 RucfuRE, GOVERNANCE AND MANAGEME Trustee body There atr ciirrently ¢ight trustw (who are also the directors of the company for the Purpose of Cotnpany law) who overnee the activities of the charity. TTh1 give their time voluoknily and re¢eive no benefits from the Gharity. Trustees woik within the cod¢ of conduct and good pra¢tÈce as set out by the CbaTities Commi55ion. None of the tNstees has any bellefiGiai Interest its the chatity. All of the trteeS are metnlxrs of the ¢harty and giiaranlee to eontribut¢ £1 in the ent of awinding UP. Due b) th¢ nattire of the charitys work the tNslees sttk to eTrSu that these needs are &pproprialely flected through the diversity of th¢ trustee bt)dy. To ¢nInee the potential pool. tn]ste¢s ar¢ requested to provide a list of their skills (and update il each year) and in th¢ event of particular skills king or being lost due to retiremenL individuals aTe approached to offer themselves for election. IiEFKRENCE AND ADMINITIvE DETAILS Registered CDmpany number N1659012 (Northern Ireland) Reg18tered Charity numbe 108349 Registsred o(fi¢e lo M B M¢Orady & Co Rathmolt House 52 St Patricle% Avenuo Downpatrick Co. Dow BT30 6DS Trustees Sister M Carvill¢ frs P Cèsement Mrs S Crea Miss C Fti¥atrick J Fitrsimons Mrs M Kelly P Strain M B T McGrady FCA Independent Exainlner M.BM¢G1Y & Co Chartered AccountsLIts SLilte 2B Cadosan House 322 Lisburn iio Belfast Co. Antrim BT9 6GH COMMENCEMENT OF AcTIvlEs The charity w8s incorporated from 13th February 2019 and commence41 its charitable a¢tivitie8 from that date.
Ajsumptlon 8¢hool Trust (Registered nutnbet: N1659Q12) Report of the Truste for the Year Knded31 M*rcb 2025 This report has been prepared in &ecordance with th¢ special provisions of Part 15 of tbe Companies Act 2006 relating to small ¢ompanies, Approved by order of the board of t[ustc on 30 Derkmb¢r 2025 and siglled oo its behalf by: PknLf P Strain- Trustee
Independent Examiner's Report to the Trustee5 or Assumption School Trust I report on the accounts of the company for the year ended 31 March 2025, which are set out on pages I to I I Respective responsibilities of charity trustees and examiner As the charity trustees (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 requirements of the Companies Act 2006. Having sat15fied myself that the charity is not subject to audit under company law. and És eligible foi independent examination, 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 Act 2008 - state whether particular matters have come to my attention. Basis of independent examin&5 report I have examined your charity accounts as required under section 65 of the Charities Act 2008 and my exan]ination was carrted out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act 2008. The 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 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 corne 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 accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the FinancÉal Reporting Standard applicable in the UK and Republic of Ireland 4. That there is further infornialion needed for a proper understanding of the accounts to be reached. tndependent examinerfs statement I have completed my examination and have no con¢en)s in respect of the matters (l) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. -JfU(thJrO4 Seamus McLernon FCA M.B.McGrady & Co Chartered Accountants Suite 2B Cadogan House 322 Lisburn Road Belfast Co. Antrim BT9 6GH 30 December 2025
Assun)ption Sehool Thist Statement of Fin4nclal ActiY&ti4y for tbe Yellr Ended 31 M4Y¢h 2025 31rJr25 Totsl ruads 31f3r£4 Total ruftds Unrestri¢ted EndowmeDt rund fund No¢e¥ EXPENDITURE ON Chgritable actlvities Charitable lJ65 1&65 1,165 NET INCOMEI(EXPENDYTURE) (1,565) {lJ63) (1,165) RECONCILIATION OF FiiNDS Total fitnds bft)ught forwanl 47,661 3.IKIO,000 3,047,661 3,048,826 TOTAL FUNDS CARRIED FORWARD 46,096 3,000,0110 3.046,096 3,047.661 The notes fornj part of these fmanciai statem¢nts
AJsumpth>n SchoolTrwt {Regi5teYed number: N1659012) Blll#net Sheet 31 March 21J25 3113n5 Total funds 31rJ124 Total funds Unrestricted Endowment fund fund Notes FIXKD ASSETS Tm8ible assets 3,000,t)00 3000,000 3,000,000 CURRENf ASSErs Cash at bank 47,104 47,104 48,669 CREDITORS Amounts fatling dur within on¢ year (1,008) IL008) (1,008) NET CURREI4T ASSETS 4A096 4@096 47,661 TOTAL A&SETS LESS CURRENr 3.001)OQO 1046,096 3,1147,661 NET ASSETS 46,096 30OQOOO 3,046,096 3,047,661 FUNDS Uhrestricted fvnds Endowinenl funds 46,096 3,000,ootJ 47,661 3,000,000 TOTAL FUNDS 3,046,096 3,047,661 Ilie charitable company is entitl¢d ts) exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The fftembers h&v¢ not required tbe company to obtain an audtt of its fin8uciaL stat¢ments for the Ye ended 3L March 2025 in acwrdance with Section 476 of th¢ Compani£8 A( 2006. The truste ackTh)wledge their r¢5ponsibilities for (a) ensuring that th¢ ¢harit&ble company keeps accounting rerdS that comply with stions 386 and 3¥1 of the Companies Act 2006 and prep8ring t"m8nGi81 statements whi¢h give a tru¢ and fair view of the st¢ of affairs of the tharitable company as at the end of ea¢b financial year and of its Surplus or deficit for each finallLial y¢ar ill accordance with the reqiiu'emenls of Sections 394 and 395 and which otherwis¢ comply with the wuirements of the Companies Act 2006 relating to financial stat¢ment4 so far as applicable to the charitable compally. These fin1[ statements have b¢en prwared accordance with the provistons Applible to clwilable companies subject to the smoll compaiiies regitn¢. The finallcial statements w¢re approved by th¢ Board of Trnstees and authoris¢d for issiie on 30 DecendKr 202S and wer¢ signed on its behalf by., (b) P Sttain- TnL4tee Th¢ Thotes forni part of tlK8e finan¢i41 statements
A88umption School Trust Note8 to the FinAnclAI Ststements for the Yewr Ended 31 Mfirch 2025 ACCOULYTING POLIC]ES Basis of prepjrlng the illlAn¢ial statements The fjnancial slatemellts of the Charitable companytr which is & public benefit ¢ntity under FRS I02, hav¢ bee prepared irt a¢cordance with the Charitiu SORP (FRS 102) 'AcrA)unting and Reporting by Cbarities.. Statement of Recommended Prgdice applicable to charities prepgring their acwunts in accordllllce wtth the Financial Reporting Stsrtdard applicable in the UK and R¢pLiblic of ItrlaThd (FRS 102) (effective L Janiiary 2019),. Financial Reporting St]dard 102 The Fingn¢ial Reporting StandaTd applicable in tELe UK 8nd Republic of Ireland, and th¢ Companie5 Act 21)06. The fill81181 stal¢m¢nts have been prepared under the historical cost ¢onvention. Expendlture Liabilities are re18ed &$ expendityre as soon as there 18 a legal or constnKtive obligation rommittiiig the charity lo ihat expenditute, it is probabl¢ that a Iransf¢r of economic benefiL8 will b¢ required in settlement and the amount of the obligation call b¢ m¢asur¢d Teliably. Expenditure 15 accounted for OTh an accNal8 basis and h been classified under headings that aate all cost relited to the category. Wliere costs cattnot be directly attributed to particular headittgs they have b¢en allocated to &¢tivities on a basis wnsi9tent with the use of resources. Tangible fixed Assets The assets held al year end relate to the land at Assumption Grammar School Ballynahinch and are llot depreciated. TRXlltion The Charity 18 exempt frorrt corporntion tax on its clwitable activitles. Fund A¢coimtlng UtLrestricted funds ¢an b¢ used in accordallce with the charitabl¢ objectives at the discretion of the trustees. R¢stri¢t¢d funds Can only be used for parti¢ular Testridd purpos¢s within the objects of the tharity. Restrictions aris¢ vtheii specified by the donoror when fjjnds 4r¢ rai8ed for particular r¢stri¢t¢d purposes. Further explanation of the Ithre and PUTpose of ch fund is included in the tte& to th¢ firtancial st&temeDt& CHAR]TABLE ACTIvfTIES COSTS Direct Support ¢08ts Toth18 ChAritabl¢ 1,037 528 lJ65 tinued...
Assumption Sehool Trust Notes to the FinAnciRI Statements- rolltlnued for the Year Ended 31 Mareh 2025 NKT INCOhfEJ(EXP£NDITURK) Net incomel{¢xpenditure) is stated after ¢hwgingl(crediling): 3113125 3113124 0111¢1' 8ssvrnnce seTvices 528 528 TRU¥fERS' REMUNERATION AND BENEFITS There were iio trustees, lDneration or otljer benefits for the year ended 31 March 2025 tlor for the year ended 3L March 2024. Trusteaq, txpenses There w¢re no trust¢es' expenses paid for the y¢ar ended 31 Match 2025 uor for the y¢ar ended 31 March 2024. COMPARATIVES FOR THE STATEMENf OF FTNANCIAL ACrIrIEs Unrestricted Endowment fund fund Tothl EXPENDITURE ON Charitnble R¢tivities Charitable 1,165 1,165 IYET INcOMEJ(ExPKNDURK) (1,165) {I,165) RECONCILIATION OF FUNDS Total fiinds brougl]t forward 48,826 3,000,000 3,048,826 TOTAL FUNDS CARRIED FORWARD 47,661 3.000,000 3,047,661 TANGTBLE FIXED A&SETS Freehold property cosr At l April 2024 and 31 Mah 2025 3,000,000 NKT BOOK VALUE Ai 31 March 2025 3,000,000 At 31 March 2024 3,000,000 Ittcluded in wst or valuation of land and PIldIngS is freehold land of £3.000.000 (2024 - £3,(N)O,000) wbi¢h is llot depreciated. contiiiued..,
Assumption &hix)l Trust Notes to the Financial Ststements- continued ror the Year Ended 31 March 2025 CREDrroRS: AMOUNfs FALUNG DUE WITHIN ONE YKAR 3113n5 31rJ124 Awruals and deferred incottte 1,008 1,008 MOVEMEiYf IN FUNDS Net movemeTht In funds At 3113125 At 114124 UnYL8trieted funds General fijnd 47,661 (1,565) 46,096 Lndoivment fund8 Endowment fund 3,01)00 3,QOO,000 TOTAL FUNDS 3,IH7,661 {1,565) 3,IM6,096 Net movement in funds, included in the above are as follows: ieoming resour Resollrce8 expended Movement In fund8 Unrestrirted fundg Gen¢ral fimd (1,565} (1,565) TOTAL FUNDS (1.56S) (1,565) Coinpirjtives for Jnovement in funds Net movement in funds At 3113124 At 114r43 Unre8tActed funds General tund 48,826 (1,165) 47,661 Endow]nent lld5 Endowmeth Ibnd 3,01)0,OOQ 3,000,000 TOTAL FUNDS 3,048.826 (1,165) 3,047,661 ¢ontinu¢d,.,
knumptioll Sthool TruJt Note3 to the Financial StnÉements- £(mtinued lor the Yeai Ended 31 Mawfk 2025 MOVEMENT IN FUNDS- contiftued Comparative net moyement in funds, incliided in the above are as follows: Resources expended Movement In funds re¥ources Unrestricted Thd General fijnd (L,165) (1,165) TOTAL FUNDS (1,165) (1,165) A current year 12 months and prior year 12 months combined plltiOn is as follows: Nrt movement Tn fund8 At 3113n5 At 114123 Unrestricted funds Geral nd 48.826 (2,730) 46,096 Endowment fid3 Endowment fund 3,000,000 3,000.000 TOTAL FUNDS 3,048.826 (2,730) 3,046,096 A ¢iittent year 12 months and priix year 12 months Combiued net movement in funds, included in the above ar¢ as follows: Incolning resources Reyource% expended Movement in funds Unrestrlcted funds General ftjnd (2,730) (1730) TOTAL FUNDS (2,730) (2,730) io ontiniied...
knumptlon School Trust Notes to the Financial St&*¢meDts- continued for the Year Ended 31 March 2025 RELATED PARTY DISCLOSURES Th¢ir were no related party tran8actions for the y¢ar ended 31 March 2(r25. li