Charity registration number.. 108647 Mccrea Memorial Trust Annual Report and Financial Slalemenls for the Year Ended 31 December 2024
Mccrea Memorial Trust Contents (continued) Reference and Administrative Details Trustees, Report 2to4 Independent Examinerfs Report 5t06 Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9t012
Mccrea Memorial Trust Reference and Administrative Details Chairman Thomas Robert Haire Trustees John Mccrea Thomas Robert Haire David James Perry Stephen Craig William Daniel Buchanan John Wi15iam George Patton 108647 Charity Registration Number Principal Office Schomberg House 368 Cregagh Road Belfast BT6 9EY Independent Examiner RBCA Limited 26 Linenhall Street Belfast BT2 8BG Investment Managers Evelyn Partners The Ewart 13th Floor 3 Bedford Square Belfast BT2 7EP Bankers Danske Bank Donegall Square West Belfast BT16JS Page 1
Mccrea Memorial Trust Trustees. Report The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2024.The Trustees have adopted the provisions of the Statement of Recommended PracliGe {SORP) "Accounting and Reporting by Charities" {FRS 1021 in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies sel out in the notes to the accounts and comply with the charitys governing document, the Charilies Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Objectives and activities The objects of Ihe Trust are as follows.. a.. The relief or prevention of poverty among members of the Junior Orange Association of Ireland, the Junior Orange Women's Association of Ireland, The Loyal Orange Institution of Ireland and the Association of Loyal Orange Women of Ireland (association members)., b.. The advancement of education and training for the public benefit with particular regard to the needs of association members who are in poverty. c= The advancement for the public benefit of that part of the arts, culture and heritage of Ireland which is associated with the Orange Order-, d.. Such other purposes being charitable according to the law of Northern Ireland as the Trustees in their discretion think fit from time to time. The objects shall be promoted by means of grants or other forms of financial assistance to individuals and other charities or in such other manner as the Trustees shall decide. Public benefit The public benefit is raising educational standards to encourage grant applicants to play their part in improving their outlook and to make them better citizens. We would meet with applicants and learn first hand how our funding assists them. This helps those doing a trade at a College for Further Education to purchase good quality tools and those allending university computers and other expenses associated with living away from home. Page 2
Mccrea Memorial Trust Trustees. Report (continued) Achievements and performance This is our second annual report to the Charity Commission for Northern Ireland. and we are pleased to continue our work in accordan with our charitable objectives. The year 2024 was another productive and positive period for the Trust. We awarded 305 educational grants lo individual applicants, supporting their pursuit of further education and helping to create opportunities that reduce the risk of poverty and promote personal development. In addition, 13 group grants were awarded to promote and preserve Orange culture and heritage. These supported a range of initiatives, including historical and educational visits, which provided valuable learning experiences and strengthened community belonging and engagement. We are asso pleased to note that the transition to direct bank payments for all successful applicants has now been fully implemented. This improvement has streamlined our grant distribution process and eliminated previous delays experienced when cheques were not promptly cashed. The Trustees remain committed lo ensuring that a15 funds are distributed fairly and in line with the Trust's objectives, delivering meaningful benefits to individuals and the community. Financial review The results for the year are set out on page 7. There was a net decrease in funds of £226,561 in the year compared to £337,887 in the previous year. At the year end the balances of restricted funds held were £5,136,212. Policy on reseeS The trustees regularly monitor the level of funds to ensure that the charitable activities are sustainable on a going concern basis based on the level of income reIVed. Trustees and officers The trustees and officers serving during the year and since the year end were as follows.. Trustees-. John Mccrea Thomas Robert Haire David James Perry Stephen Craig William Daniel Buchanan John William George Patton Chairman= Thomas Robert Haire Page 3
Mccrea Memorial Trust Trustees. Report (continued) Structure, governance and management The struclure of our governance and management is in accordance of our constitution. Truslees are appointed in accordance of our constitution. Statement of Trustees, Responsibilities The trustees are responsible for preparing the trustees, report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent-, state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitulion. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 01 Ocl 2025 The annual report was approved by the trustees of the charity on by: and signed on ils behalf Thomas Robert Haire Chairman and trustee Page 4
Mccrea Memorial Trust Independent Examiner's Report to the trustees of Mccrea Memorial Trust I report to the trustees on my examination of the accounts of Mccrea Memorial Trust for the year ended 31 December 2024. Responsibilities and basis of report As the charity's trustees of Mccrea Memorial Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ireland) 20081'the Act'l. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to= examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008., follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65{91{bl of the Charities Act., and state whether particular matters have come to my attention. Basis of independent examlner's report My examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 6519)(bl of the Charities Act. 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 includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity truslees Gonceming any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: 1. 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 lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland; and 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have completed tny examination and have no concerns in respect of the matters (11 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. Page 5
Mccrea Memorial Trust Independent Examiner's Report to the trustees of Mccrea Memorial Trust {continued) S4 Brian Stewart RBCA Limited 26 Linenhall Street Belfast BT2 8BG 07 Oct 2025 Date.. Page 6
Mccrea Memorial Trust Statement of Financial Activities for the Year Ended 31 December 2024 Restricted funds Total 2024 Total 2023 Note Income and Endowments from: Donations and legacies Investment income 10,763 191,646 10,763 191,646 1,965 199,392 Total income 202,409 202,409 201,357 Expenditure on.. Raising funds Charitable activities {24,372) 525,629 (24,372) {525,629) {23,876) 1524,837) Total expenditure Gainsllosses on investment assets <550,0011 121,031 (550,0011 121,031 (548,713) 9.469 Net expenditure 226,5611 226.561 337,887 Net movement in funds (226,561 } (226,5611 (337,887) Reconciliation of funds Total funds brought fotward Total funds carried forward 5,362,773 5,362,773 5,700,659 5,136,212 5,136,212 5,362,772 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 9. The notes on pages 9 to 12 form an integral part of these financial statements. Page 7
Mccrea Memorial Trust {Registration number: 108647) Balance Sheet as at 31 December 2024 2024 2023 Note Fixed assets Investments 4,982,730 4,971,614 Current assets Cash at bank and in hand 160,433 399,460 Creditors: Amounts falling due within one year 6,951 8,302 Net current assets 153,482 391,158 Net assets 5,136,212 5,362,772 Funds of the charity: Restricted Income funds Restricted funds 5,136.212 5,362,772 Total funds 5,136,212 5,362,772 The financial statements on pages 7 to 12 were approved by the trustees, and authorised for issue on 07 0¢12025 and signed on their behalf by.. Thomas Robert Haire Chairman and trustee The notes on pages 9 to 12 form an integral part of these financial statements. Page 8
Mccrea Memorial Trust Notes to the Financial Statements for the Year Ended 31 December 2024 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 1021 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 slalementsl have been prepared under the historical cost convention with items recognised at cost or Iransaclion value unless othetwise slated in the relevant nole{sl lo 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 thal there are no material uncertainties about the charity's 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 consislenl with the use of resources, for example, allocating property costs by floor areas, or per capita, staff Gosts by the lime 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 il meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the Gharity is potentially exempt from taxation in respecl of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporalion Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to Ihe extent that such income or gains are applied exclusively to charitable purposes. Page 9
Mccrea Memorial Trust Notes to the Financial Statements for the Year Ended 31 December 2024 {continued) 1 Accounting policies Icontinuedl Fixed asset investments Fixed asset investments, other than programme related inveslmenls, are included at market value at the balance sheet dale. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value al 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 lo the Statemenl of Financial Activities based on the market value at the year end. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of Ghange 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 10,763 10,763 Total for 2024 10,763 10,763 Total for 2023 1,965 1,965 3 Investment income Restricted funds Total funds Interest receivable and similar income., Interest receivable on bank deposils Other income from fixed asset investmenls 295 191.351 295 191,351 Total for 2024 191,646 191,646 Total for 2023 199,392 199,392 Page 10
Mccrea Memorial Trust Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 4 Expenditure on charitable activities Restricted funds Total funds Note Charitable activities 525,629 525,629 Total for 2023 524,837 524,837 5 Taxation The charity is a registered charity and is therefore exempt from taxation. 6 Fixed asset investments 2024 2023 FA investment- UK listed other shares bd FA investment - UK listed other shares revaluation FA investment - UK listed other shares additions FA investment - UK listed other shares disposals 4,971,614 121,031 994,419 {1,104,334 4,982,730 5,300,952 909,038 1,238,376) 4,971,614 7 Cash and cash equivalents 2024 2023 Cash at bank 160,433 399,460 8 Creditors: amounts falling due within one year 2024 2023 Accruals 6,951 8,302 Page11
Mccrea Memorial Trust Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 9 Funds Balance at 31 Balance at 1 January 2024 Other Resources recognised December expended gainsl{lossesl Incoming resources 2024 Restricted funds 5,362,773 202,409 528,908 99,938 5,136,212 Balance at 31 Balance at 1 January 2023 Other Resources recognised December expended gainsl(losses} Incoming resources 2023 Restricted funds 5,700,659 201,357 1527,6271 {11,617 5,362,772 10 Analysis of net assets between funds Total funds at31 December 2024 Restricted funds Fixed asset investments Current assets Current liabilities 4,982,730 160,433 6,951 4,982,730 160,433 6,951 Total net assets 5,136,212 5,136,212 Total funds at31 December 2023 Restricted funds Fixed asset investments Current assels Current liabilities 4,971,614 399,460 {8,302) 5,362,772 4,971,614 399,460 18,302 5,362,772 Total net assets Page 12