Mccrea Memorial Trust Statement of Financial Activities for the Year Ended 31 December 2023 Restricted funds Total 2023 Total 2022 Note Income and Endowments from: Donations and legacies Investment income 1,965 199,392 1,965 199,392 2,109 205,783 Total income 201,357 201,357 207,892 Expenditure on: Raising funds Charitable activities (23.876) (524,837) (23,876) (524,837) (28,251) (447,379) Total expenditure Gainsllosses on investment assets {548,713) 9.469 {548,713} 9,469 (475,630) 548,891 Net expenditure (337,887) (337.887) (816,629) Net movement in funds {337,887) (337,887) (816,629) Reconciliation of funds Total funds brought forward 5,700,659 5.700,659 6,517,289 Total funds carried forward 5,362,772 5.362,772 5,700,660 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 9. The notes on pages 8 to 11 fomi an integral part of these financial statements. Page 6
Mccrea Memorial Trust (Registration number: 108647) Balance Sheet as at 31 December 2023 2023 2022 Note Fixed assets Investments 4.971,614 5,300,952 Current assets Cash at bank and in hand 399,460 409.329 Creditors: Amounts falling due within one year {8,302 9,621 Net current assets 391,158 399.708 Net assets 5.362,772 5,700,660 Funds of the charity: Restricted income funds Restricted funds 5.362,772 5,700,660 Total funds 5,362,772 5,700,660 The financial statements on pages 6 to 11 were approved by the trustees, and authorised for issue on 31 Oot.2&24..... and signed on their behalf by: Thomas Robert Haire Chairman and trustee The notes on pages 8 to 11 fomi an integral part of these financial statements. Page 7
Mccrea Memorial Trust Notes to the Financial Statements for the Year Ended 31 December 2023 1 Accounting policies Statement of compliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparation Mccrea Memorial Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otheiSe stated in the relevant note(s) to these accounts. Presentational currency and level of rounding The presentational currency is £ sterling and the level of rounding is to the nearest £. Going concern The trustees consider that there are no material uncertainties about the charitys ability to continue as a going concern. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas. or per capita, staff costs by the time spent and other costs by their usage. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Fixed asset investments Fixed asset investments. other than programme related investments, are included at market value at the balan sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Page 8
Mccrea Memorial Trust Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-lerm highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Fund structure Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. 2 Income from donations and legacies Restricted funds Total funds Donations and legacies., Donations from individuals 1,965 1,965 Total for 2023 1,965 1,965 Total for 2022 2,109 2,109 3 Investment income Restricted funds Total funds Interest receivable and similar income- Interest receivable on bank deposits Other income from fixed asset investments 458 198,934 458 198.934 Total for 2023 199,392 199.392 Total for 2022 205,783 205,783 Page 9
Mccrea Memorial Trust Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 4 Expenditure on charitable activities Restricted funds Total funds Note Grant funding of activities 524,837 524,837 Total for 2022 447,379 447.379 5 Taxation The charity is a registered charity and is therefore exempt from taxation. 6 Fixed asset investments 2023 2022 FA investment- UK listed other shares bfvid FA investment - UK listed other shares additions FA investment- UK listed other shares disposals 5,300,952 909,038 1,238,376 6,301,931 1,320,778 2,321,757 4.971,614 5,300,952 7 Cash and cash equlvalents 2023 2022 Cash at bank 399,460 409,329 8 Creditors: amounts falling due within one year 2023 2022 Other creditors Accruals 8,301 9,621 8,302 9,621 Page 10
Mccrea Memorial Trust Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) g Funds Balance at Other 31 Resources recognised December expended gainsl{losses) 2023 Balance at 1 January 2023 Incoming resources Restricted funds 5,700,659 201,357 (527,627) (11,617) 5,362,772 Balance at Other 31 Resources recognised December expended gainsl(losses) 2022 Balance at 1 January 2022 Incoming resources Restricted funds 6,517.289 207,892 (450.056) (574.465) 5,700,660 10 Analysis of net assets between funds Total funds at31 December 2023 Unrestricted funds General Fixed asset investments Current assets Current liabilities 4,971,614 399,460 {8,302 4,971,614 399.460 8,302 Total net assets 5.362,772 5,362,772 Total funds at31 December 2022 Unrestricted funds General Fixed asset investments Current assets Current liabilities 5.300,952 409,329 {9,621) 5,300,952 409.329 {9,621) Total net assets 5,700,660 5,700,660 Page 11