Unaudited Financial Statements Visually Impaired's Former Residents
Trust
For the year ended 5 April 2025
Visually Impaired's Former Residents Trust
Contents
| Page | |
|---|---|
| Reference and administrative details of the Trust, its Trustees and advisers | 1 |
| Trustee's report | 2 - 3 |
| Independent examiner's report | 4 - 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 14 |
Visually Impaired's Former Residents Trust
Reference and administrative details of the Trust, its Trustees and advisers For the year ended 5 April 2025
For the year ended 5 April |
2025 |
|---|---|
| Trustees | Cleaver Fulton Rankin Trustees Limited |
| Charity registered number 108610 Principal office Cleaver Fulton Rankin Trustees Limited 48 - 50 Bedford Street Belfast BT2 7FW Accountants Grant Thornton Advisors (NI) LLP Chartered Accountants 12 - 15 Donegall Square West Belfast BT1 6JH |
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Visually Impaired's Former Residents Trust
Trustee's report For the year ended 5 April 2025
The Trustee presents their annual report together with the financial statements of the Trust for the 6 April 2024 to 5 April 2025.
The Charity registered number is 108610 and the registered office is 48 - 50 Bedford Street, Belfast, BT2 7FW.
Objectives and activities
a. Policies and objectives
The trust’s purpose is to manage the share portfolio and to pay or apply the net income to the beneficiaries of the trust who are the former residents of a home that was situated at 12 Annadale Avenue Belfast. The home was run by the Charities Branch of the Department of Health and Social Services for Northern Ireland
b. Main activities undertaken to further the Trust's purposes for the public benefit
The Trust's main purpose is to manage the share portfolio and to pay or apply the net income to the beneficiaries of the trust.
Achievements and performance
a. Review of activities
During the year funds were invested and payments were paid to each beneficiary each quarter, on their birthdays and at Christmas.
b. Investment policy and performance
The Trustee manages the share portfolio and pays the net income generated from that portfolio to the charitable beneficiaries.
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
b. Reserves policy
The Trust holds reserves sufficient to meet the day to day requirements of operations.
c. Financial overview
During the year the trust made a loss of £5,569 (2024 profit of £27,925). At the end of the year the Trust had net assets of £280,273 (2024 £285,842).
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Visually Impaired's Former Residents Trust
Trustee's report (continued) For the year ended 5 April 2025
d. Constitution
The principal object of the trust is to manage investments and to pay the net income generated from the share portfolio to its beneficiaries.
e. Method of appointment or election of Trustees
The management of the Trust is the responsibility of the Trustee who are elected and co-opted by deed of appointment/retirement under the statutory provisions. Cleaver Fulton Rankin Trustees Limited was the sole trustee of the Trust during the current and prior year.
The directors of Cleaver Fulton Rankin Trustees Limited are: K L Blair (resigned 31 Ooctober 2024) J Forrester M K G Graham T B Rankin (appointed on 28 November 2024)
Statement of Trustee's responsibilities
The Trustee is responsible for preparing the Trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Northern Ireland requires the Trustee to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Trust and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustee are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in business.
The Trustee is responsible for keeping adequate accounting records that are sufficient to show and explain the Trust'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 Charities Act (Northern Ireland) 2008, the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and the provisions of the Trust deed. They 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.
Approved by order of the members of the board of Trustee on 13 August 2025 and signed on their behalf by:
[CleaverSS Signed6CO8B2RDECOB44E,,by: Fulton gkKaukin Trusteeser)limited Cleaver Fulton Rankin Trustees Limited (Trustee)
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