Financial Statements Premier Electrics Charitable Trust For the year ended 31 IAarch 2025 Charity number" 108812
Premier Electrics Charitable Trust Contents Page Trustw•' r•port Ind•p•nd•nt •x•mln•rfs Y•port stat•ment of financlal xtlvllles Balanc• sh••t Noto8 t• th• Ilnanclal st•t•m•fits 7-12
Premier Electrics Charitable Trust Trustees, report For the year ended 31 March 2025 The Trustees piesent theit report and the finAncial staiements of the charifj. for the )'ear ended 31 TrIaich ?095. R•f•rnnc• and admlnlstratlve d•tallg Regigteted ch2rity' n2me.' Premier Electtics Ch2ri12ble-frust Regstered chAIity number: Chatity Commission for Northern Ircland charitt, no. I n881 • Ch2nh,'s pubhc 2ddress- c/0 16 Tandaghduff Road, BLII,i¥l)i'. IIagherafelL BT45 8IQ Th• tThst•OJS The tnteeS who served the charit)" duong the !'e3r were as follOu. fr.II Scullion Irs T Scullion Ir E .Ilo¥tcet Struclur gov•rn•DG• •nd mana9•m•nt The chantlT is govetned by 3 Trust Deed. The charity is constituied b}, trusiees who Tnanage 2fLd (hrect the chatiti.. L'naer the requirementq 06 the Trust Deed, the trust may from tirne to timc bl resolution of a meeting of th¢ tw%tees irtcteAse or reduce the number of trustees ax)d determine in whar rotation such Jncreased or ieduced number shall go out of office aThd make appointments necessari. for effecting an)" such increase. ObJ•¢tlv•$ and •ctlvltlo• The objectiTre of the charity is to pr()I"iLIL financi21 support 10 ITatious projects (both P-eStin8 newl}. etab]ighed) principalls, based in T2llZ2nia. assoaaied with the establishment of Iater wells and the proiTiSiQn of deafy safe drinkllig water. The trust seeks to proside financ 2SSiSt2nce to such projects with the alln of creating a Sustnable structure for the development and running of these Th'ells. which are often locited in areas ol extreme Isolation and impoverishment with little or no acces5 ro clcao Llniiklng water. N',oi onli will this work alleNryate the hardship and )ll he21th eyperienced as a direct result of unsafe dnnkmg ivater, li will in turn create a framework fioyn which sooal 2nd econorLllC bencfits to local cornrnurntics can flow. The trustecs have taken instruction on the Charities .Ict (Northern Ireland) ?008. In setting Ihe ChariTh"'s objecriveg and planning our actiiryties for the year the tnlsrees hai-e giTen careful consideration to th¢ Chati¥' Commission for Nuttlicin Iidand'5 suidanci on pubh"c bL'nefit to cnsiC that thc £lCtiIltsL$ ha%'e hi.IpLd to achLeN"C the ¢hittti-'$ purposes and provide a benefit to the benefiCILes. Premiei Fjecttics Clwitable Trnst became tegistered with The Chariry Cornrnission for Northern Ireland on 17 .Ita! ?0?? In e9tablishts]g the objectives and planning of distiibution of wts for the )'ear, the trustee> havc %.cn c2Icful consideration to the Chartti, COMMs1o for Northem Ireland's ydance un public benefit to ctlSUfC that the activities have hdpcd to achieve the charit) s puqJose5 and prolides a bcncfit to l)LIILticurie4. AGhl•v•m•nt• and p•rform•n¢• During the }"e2r, the charity financed tbe successful C.P10ratiOn 2nd drilli ol 2 well in Tanzania, in an arex which h3d seen no rain for 6 month5. This is enabltsjg the irthabitanis ol the arca to SllTh"ii"I'_ prolryding clcafy Ircsh dn"nLmg water, and en3bltt¥ them to water the crops and grow food to ear. Page 1
Premier Electrics Charitable Trust Trustecs, report (continued) For the year ended 31 March 2025 R•s•rves 'Ihe chantr does not hold an}- rcsentes. [aLll the iiew that thc benefimrics of the chanti. are better scThrd bi the proi45ion nf dean and safe drinking ivatcr than bi- earning small amounts of b2nL- intcrest. I,inancyal rclryel- 'rhe detailed results fot the ie2r and the chatitt"'s Fmancial tK)sition at the i'eat-end 2re shoivn in the attachcd financi31 st2temerttb. The total unrestncted incorning resources for thc l'ear amounted to £1 I.OOU (*0?4.. £.3.0?4), with expendite of £10,•76 (9094.. L3,IU8), resulting in f)et incoming resources for the }ear of O?4 (ry1}?4-. net outgoing Icsowces of £84) This 1cai.cq unrestrtcred fundf f"- ar the l'ear cnd l?0?4-. £31. One ol the trnstees ib a director of Pretnier Electtics Llted. The sole incon]ing Tesources of (he charin. are donati()ns from Premier b'lecttics LimiteiL 8lat•m•nt of Trust•es' r•spon$lbMItI•• The tru8tecs are responsible for prepaiing the trustees. annual report and the financial statements in aCcOancC th appcable laiv and rcgdatsons. l]Le Charities .Ict {North¢rn IEelandl W08 requires thc trustees to prepare financi21 statements for each financial l'ear iihich giite a irue 2nd fatr iirnv of the st21e of aff8 of the chariti. and of its incoming resources and apphcatioji of resources for ihai penod. In preparing th08e finan021 st2tefflents, the tmstees are required ro: Select Suitable accounung policies and ihen appl!. Ihem consistendi-: ObseTh".e rhe meihods and principle5 ill the Chxnties sORP l%(atenkent of RecommL TiLILd Practice ' aLe judgtncnts and estimates thjt are reasonable and prudent. t,'Ilc whether applicable accounting srandards haE'e been followed. subject ro an}. materi21 depArtle5 dx"5closed and e¥p]2ined in the financial siatemcnrs" and Prepare Ihe financial statements on the (poi concern basis unless It is inappropnate to presume that the chariti. conunue m operarion. The trustees are responsible for keeping proper accounrtsjg records that disclose ryth re2sonxble accutaq" at an!. time the finanLidl posiiion of Ihc ch3titi" and enable them 10 cnsurc that tlie s[arnCnt$ cotnpl}' ryth the Chantic% Ict Tr-orthern Iielandl ?(Klll Thci- are also responsible for saleguardujg the 2SSets ol (he charity. hence for taking rcasi >fi.Il)le steps for the prei'ention and detection UF Fraud and oihcr irrcgu12Litie5. -Ipproi-ed b!. order of the mLmbets of ihe board of Trustee5 on 26101126 nd sjgned on che bchalf bi": Ir M Scullion I tustee Page 2
Premier Ele¢tri¢$ Charitable Trust GrantThornton Independent examiner's report For the year ended 31 March 2025 Ind•p•nd•nt •xamin•rfs r•port to th• Trnstoos of Prnml•r Eloctrks Charitabl• Trust K'e report on the finaocial statements of the ch2llts' For the ve2r ended 31 I12rch ?0?5 which are set out on Eyagcs 5 to l? R•spoctlv• Y•sponslbllltl•s of eharfty Trn•t••s and examln•r .Is the charity's trustees vou are tesponsible for the PTep3Tation of the accounts in accordance Mth the Charitses .Ict Oxorthern Ireland) ?tKI8. It AS our re5ponsibJlit)' to.. examine the accounts undei section 6) of ihc. Ch2rities _Icr: folloi¥ the procedures laid down in the gcner21 Directions l-en b}. the the Ch31tts. Cotnmission fot.Northem Ireland { the Comnii%sion") under section 65(9)(b) of the Chanties .Ict' ana state whether particular atterS have come to our attention. Basls of Ind•p•nd•nt •Mmln•f• •tat•mont 'e have eyaminea i'our charity 2ccounts As reqwred under section 6) OE the ("li'irJiies .¥ct xnd out examination ivas caIried out in accordance the gened Directions gii-en b!. ch1. COMMs1o for Northern Ire12nd under section 65(9)(b) of thc Charities .Ici. Our examjnauon trtcluded a relryew of the accounting records kept bi" the cbariry. and gl compan50x] OF the accounts presented wth thoge iecuIds. It also includes consideration ol:iiii' uThusual itetns ot disclosuxcs in thc accounts, 2nd 5eeknng oxplanations from )"ou as charin" fnistees concerning #n!" such m2trers. Our role is to state whether an}" mateiial marters hair come to our attention wiryng us cause to believe: that accountmg tecotds wcrc not kept An 2ccordancc with section 63 of the (".liariuL'S .Ici: that the 2ccounts do not accord ivitb those accountiiig records. that the accounts do not compli. with the #ccountiiig requircmciit5 0( the Ch*tities .Ict' that therc is further information ncedcd for a proper undcrstanding oFthe accounts to bc rc2ched. Ind•p•nd•nt •xamln•rfs stat•m•nt Ve havc completed our examination and have no concerns in respeci OE the m2ttcrs (l) to (4) ]ksted aboi'e and. I connection Mth follo1ng rhe Dir£ction5 of the Chant)" C.QUJmiS5AOn Eor _Norrhcm Irc12niL ive haTrTe Eound no matters that require dtawing to }"our atteDtioii. Paje 3
Premior Electrics Charitsble Trust Q GrantThornton Independent ciaminer's report (continued) For the year ended 31 March 2025 This rcport is rnade solel)- to thc charitt- s Ttustees. as 2 bdi-. In #ccor&ncc NNryth bection C)J{3)la) of the ChatttiLg -Ici {Northcrn Tre12nd) ?LIL18 and rc4uiatiDns made under scctson CTr6 of that ¥ct. Our ivork has becn undert2Len so that wc might st2te tu the chariti"% Tru5tee5 those m3trcrs ive are required to state to them in an Independent examincr s report 2nd fur no orheT puwole. To the lul]est citcnt pemlitted b!. Raiv, Ive do not accept or as8um¢ re5ponsibihry" to ani-one other than the chariti" and the chariti"'s I'njsrees as a bnJ!". for our work or f(Trr tkn5 report. Signed.. Dat¢d: 2610112026 Grant Thornton PJI) LLP Chattered¥ccouni2nts 1 ? _ 15 Donegall bguare Ix'est Belfasr BT1 6IEI Page 4
Premier Electrics Charftable TnBt Balance shcct For the yearended 31 March 2025 2025 Note Currnnt sMts Debtors 3,0?4 Ca¥h Jt bank and in hand 727 727 Credt"tors.' amounts falling due within one l'ear (3.0?4) N•t currnnt •sg•t9 727 Total au•ts l•M curr•nt Ilabllltl•s 727 Total n•t ••19 727 Charlty lunds Llnrestricted Funds 727 Total lunds 727 financial statements were apprOTa 26101126 and #uthorised for issue and signed on their behalE b}": the TTrtees on MT M Scullion Trustee The notes on pages 7 to l ? fomi part of these financial sttementS. PJJe 6
Premier Electrics Charltable Trust Statement of fmancial activities For the year ended 31 March 2025 Total funds - unic5tiiCted Unrestricted nds 202) Tots71 nds 2025 Note Incom• fromi Donations ana arleS ILOOO 11.000 3,0?4 Total Incom• ILOOO 11.000 3,1)?4 Exp•ndlturn oni Charitable activiTie5 10276 10,276 3,1118 Total •XP•bMlltur• 10276 10.276 3,108 N•t movement In fund• 724 724 (841 R•¢on¢lllallon ol fi•nd Total Eunds brought foLivard Net moi'etnertt in fixnds 724 724 (84) Total fvnd• ¢•rrl•d fi)rward 727 727 -lll amounts relate to continuing opcrations. Thc notes on pages -. to l • form patt of these financi31 statemcnts. Page 5
Premier Electrics Charltable Trust Notes to the financial statements For the year ended 31 March 2025 G•n•ral Inforniatlon l)remier Llectrics Ch2rit2ble Trusi is a charitt. Iegistered m Northern Ireland. Irs charity registration nurnber is 108819 and its registered address is 16 T3m]3ghauff Ro3d. Bcll%h}, h12ghcr2fclt, BT45 81Q. Accountlng pollci 2.1 Basis of preparation of finattcial Statements The fmanciai stst¢ments baye been prepared m accordaoce thc Ch2fitie5 SORP la? -Iccounting and Rcporting bs. Chaotics". Ststement ol Recommendcd Practicc applicable to charities prep2ring their iccounts An accordance with the Financial Rep()rting %tndard applLC2ble irL the UK 2nd Repub]ic of Ireland (FRS 111?) (elfecui-e I 9019). the Fana21 Reporting Standard apphc74ble in the L'K and Republic of Ire12nd IFRS 104) and the chltieS _Ict (Nortbem Ireland) ?<JJ8. Prelnier Electrics Chantable Trust tneets the definition of a public benefit entiti, under kRS IU? .Issets and liabth'ties are initially recognised at kn"storical cost Dr trans2ction iralue unless otherwise srated in the relevant accounting policy. The finanaal 5tatemcnts have been prepared on a going concern basis which assumes that the chatity contiaue in operation21 eStenCe for rhe foreseeable Euture. The tnjsrees belieiTe that it is Appropiiate for thc fmanci31 stateen(S iv be ptrpai¢il on IhL cuiicern batiis. The financial stiternents are presented in steAg. wlll.ch is the function21 currenc}, of the enuty. 2.2 Donations received Donations received are recognised in full ir] the siatement of fincIal acti%rytics the i"e2r in wch they are receivable. 2.3 Resources expended Resources expended are ttcognised m the pcriod in ivhicb rhq. arc incurred. C.hRntahlo" exp'nditijrr cnmpnsc.s ihf).SL incurtcd bi. ¢hc rhanti- thc duJLs'crk 0£ its acuN'iu¢s and serrices lor 118 bcncficiarie5. It includcs both cust5 that can be allocarcd ditectiy to such actirIeS and those costs ol an Indcct natute necessa4- to supwrt them. Governance costs include those costs aSS003red uryth ffleetii]g the constiruuon21 2nd Stat' rcquirements of the chantl, 2nd aUde the lees 2nd c05t5 ltsAk-eJ to the str2tcC managetnent of the ch3nty. 2.4 Debtots Trade and other dcbtors att recogniscd at the setdement afflount aft¢t any tr2de th5count offcTCd. Prepa)rynents ate valued at the amount prepaid net of any trade discouncs due. 2.5 Cash at bank and in hand Cash at bank" and in hand includes cash and short-tetm hjghli" liquid inirestments with a short maturity. of three months or less liom the date ol acqwsLUQA or openll¥ ol the depo8it or similar account. PJe 7
Premier Electrics Charilable Trust Notes to the financial stitements For the yearended 31 March 2025 Accountlng policl•s (contlnu•d) 2.6 Iiabilities and provisions l.iabihties ate reColsed when thete 1$ an oblg2tion at the Balance sheet date as a result of a psst ei'ent, it is pri)b2ble that a transfcr i)f econonllc bencfit ivill be tequiLed m 5Cttlement. and the amount of the setdLment can be estimated rcliabli-. 2.7 Fin2ncial insttument5 The Chariti" onl). h2s finanaal assets and fmanci21 liabiliiiL% of a kind thar qua]ifj' as basic financial instnllnents. Basic fwaThcial instruments are iniixalli" r¢cognised at tr3n$2ction value and subsequend!" measured at their setdemeni i'alue Trith the ¢Kception of bank- loans which xre subsequentl}. ttLeasured at amnrti%ed cosi U5g the effectsi'c interest merhod. 2.8 Fund accounting The chatirr h2S OTIL. t)ye nf fund for which it is responsible, and which reqwre5 separate disdosure a5 Folloivs.. Unrestncfedfunds." Funds which are expendable at thc discretion of rhe comn)ittee in the filltherance of the objects of the chatiti.. In additson. fillhds mai. be held in order to finance capital inirestment aiid working capital. from donatl¢)n* and 10g•GI•• Unrestticted futtds 202) Total funds 2025 Donations 11,W(I li,(H)O l."nrestricttd luxids Tota fLmds Donation5 3,0?4 Page 8
Pr•mler Electrics Charitsblè Trust Notes to the financial statements For the year ended 31 March 2025 Analysi• of •xp•ndltur• on charitab activltles Summary by fund type UThrestticted funds Total 2025 2025 Chantabk eNpenditure 10.276 Unrestticted fund5 ?0?4 Tot31 ?094 Governance costs 3,108 3,108 Ana1$ of •xp•ndlturn by a¢tlvfti•• Support costs Total funds 2025 2025 Cbaiitable eipenditute 10,?76 10,276 uppurt costs ?094 nds Governance costs 3.11)8 3,1118 Pag& 9
Prnmier Electri¢s Charitable Trust Notes to the financial statements For the year ended 31 March 2025 Ind•p•nd•nt examlnerfs ¥•m¥n•rntlon 2025 ?0?4 'ees pa}?ble to the C.haritt" s independent oi2rn1ner foi the independent exarninatton of thc C.h2rits s annual accounrs 951) Fees pas'able to the Charii! s independent oKamineT in respeci ol: Other 5eThice5 I,iOO St•ff ¢osts and •molum•nts The asErage number of persons emploi.ed b!. the ch2tttt. duting the l'ear amounted to N'il (•0•4.. Njg. There vere no st#Ef costs or emoluments incutted dunng rhe rear Il?U?4.. £Xil) D•btors 2025 ?0?4 Due within one year Other debtors 3,094 2025 -Iccruals and deferred income 3,0?4 Page 10
Premier Electrics Charitable Trust Notcs to the financial statements For the year ended 31 March 2025 10. Stat•m•nt of funds Statent of funds - current Balance at 31 March 202) Balance at I April 2024 Income Expenditute Untestricted funds Income fid3 ILOOO (10,276) 727 stst•m•nt ol fvnd• . prlor yoar Balance at -31 ,Ilxrch ?1194 B31ance at l .¥pixl ?11?3 Income Expenditure Untestricted funds Income Flmds 1 l. Anaty81s of n•t •wt• b•twwn funds Anatysls of n•t •M•ts b•tw••n funds . ¢umt ar Unrestricted funds 2025 Total funds 2V2S CUrnt 3sset5 51 3,751 3,024 Th"fference (3,0?4) Total 727 Page11
Premier Electrics Charitsble Trust Notes to the financial statements For the year ended 31 PAarch 2025 11. Anatysl$ of not ass•t3 botwwn funds {contlnued) An•lysls of net ats betwwn funds . prior y•ar LJnrestr&Ctcd funds Total fimds Current assets Credit()rs due one l'ear 3.0?? (3,0?4) (3,1)?4) Total 12. R•l•t•d party transactlon$ One of the tLllStees 15 also a director of Premier F*.lectrics Limi"ted. During the l'ear Premier Electrics Limited made donations of £1 l.otu {?0?4: £3.0•4) to Premiei F.lectncs Charitable Trust. _It thc l-ear end £- (?0?4: £3 11?4) was owed bi, Premier F.lectriCS Iimited to Premier Electrics Chantable Tntst. management pcrsorlnel include all trustees who hold authoritt, and responsibility for planning. directing and contrulling the acttTriucs of the charitr. l)LJntig the l-ear no trustee TcceiiTed ani. rernuneration l?0?4.. £nil) and no tnL8tcc eYpctise5 haire been incuryed (?U?4: £ni]}. 13. Post lne• •he•t •¥ts There are no posi balance sheet events to no(e. Gontrolllng IMIrty During the I'car the th1. was under the control oFits ttustees. Page 12