Arura Nl Trust Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 December 2023 2023 Unrestricted funds Total funds Note Income and endowments Donations and legacies Total income 26,067 26,067 26,067 26,067 Expenditure Expenditure on charitable activities Total expenditure 6,591 6,591 6,591 6,591 Net income and net movement in funds 19,476 19,476 Reconciliation of funds Total funds brought forward Total funds carried forward 19,476 19,476 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 7 to 11 form part of these financial statements. Arura Nl Trust Company Limited by Guarantee Statement of Financial Position 31 December 2023 2023 Note Current assets Cash at bank and in hand 20,316 Creditors: amounts falling due within one year Net current assets 11 19,476 Total assets less current liabilities 19,476 19,476 Net assets Funds of the charity Unreslricted funds 19,476 Total charity funds 12 19,476 For the year ending 31 December 2023 the charty was entttled to eXeMpt￿n from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statement5 for the year in question in accordance with section 476: The directors acknowledge their responsibilities for comptying with the requirements of the Act with respect to accounting records and the preparation of financial slatements. These financial statements have been prepared in accordance wrth the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 2.0.10.9.120.24., and are signed on behalf of the board by: lil Timothy Kyle Trustee The notes on pages 7 to 11 fonn part of these financlal statements. Arura Nl Trust Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2023 General information The charity is a public benefft entty and a private company limtted by guarantee, registered in Northern Ireland and a registered charrty in Northern Ireland. The address of the registered office is Crescent ChL5rch, 6 University Road. Beifast, BT7 1 NH. Antrim. Statement of compllance These financial statements have been prepared in compliance wtth FRS 102. 'The Financial Reporting Standard applicable in the UK and the RepubliG of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's abilty to continue. Judgements and key sources of estlmatlon uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular fLrture project or commitment. Restricted funds are subjected to restrictions on their expendrlure declared by the donor or through the terms of an appeal. and fall into one of two sub-classes.. restricted income funds or endowment funds. Arura Nl Trust Company Limited by Guarantee Notes to the Financial Statements (cofttinuedj Year ended 31 December 2023 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefrts ass¢xiated with the transaction will flow to the charity and the amount can be reliably tneasured. The following 5peGifi¢ poliGies are applied to particular categories of income: inGome from donations or grants Is reGcgnised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when reGeipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impraGtical to measure reliably, in which case the value is derived from the cost to thc donor or the estimated resale value. Donated faciltties and se￿l¢e5 are recognised in the accounts when received ff the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there ig a contractual requirement for it to be spent on a particular pU￿ose and returned rf unspent, in which case it may be regarded as restricted. Resources expended Expenditure 15 recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activrties to which it relates= expenditure on raising funds includes the costs of all fundraising activities, events. non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefrt of rts beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activty are allocated directly to that actlvty. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Financial instruments A financial asset or a financial liabilty is recognised only when the chartty becomes a paty to the contractual provisions of the instrument. Arura Nl Trust Company Limited by Guarantee Notes to the Financial Statements (¢ontinued) Year ended 31 December 2023 Accounting policies (¢onllnue Financial instruments (continu Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequentty measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business tetms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value. with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impaiment at the end of each reporting date. If there is objective evidence of impairment. an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equty instruments regardless of significance, and other financial assets that are individually significant. these are assessed individually for impaiment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are rewnised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impaimient not previously been recognised. Limited by guarantee The charty is a company limited by guarantee and has no share capital. In the event of the charity being wound up. the liabilty in respect of this guarantee is limited to £1 per member of the charity. Arura Nl Trust Company Limited by Guarantee Notes to the Financial Statements {¢onfinuedJ Year ended 31 December 2023 Donations and legacies Unrestricted Total Funds Funds 2023 Donations Donations Capital intrOdU￿d 300 22.742 300 22,742 Subscriptions 2023 Weekend Registration Fees 3,025 3,025 26,067 26,067 Expenditure on charitable activities by fund type Unrestricted Total Funds Funds 2023 Charitable Activty Support costs 5,721 870 5.721 870 6,591 6,591 Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2023 Charitable Activity Govemance costs 5,721 5,721 870 870 5.721 870 6,591 Independent examination fees 2023 Fees payable to the independent examiner for. Independent examination of the financial statements Staff costs The charity employs no staff and therefore incurred no staff costs during the year. 10. Trustee remuneration and expenses The charty trustees were not paid or received any other benefits from employment with the Charity in the year. No charty trustees were reimbursed for travel expenses during the year. No charity trustee received payment for professional or other services supplies to the char'ty. 10 Arura Nl Trust Company Limited by Guarantee Notes to the Financial Ststements (continuedj Year ended 31 December 2023 11. Creditors: amounts falling due within one year 2023 Accruals and deferred income 12. Analysis of charitable funds Unregtricted funds At l January 202 At 31 December 2023 Income Expenditure General funds 26,067 {6,591) 19,476 13. Analysis of net assets between funds Unrestncted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 20,316 (840) 19,476 20,316 (840) 19,476 14. Corporation taxation The Company is a registered charity, and as such is entitled to tax exemptions on income and profits in furtherance of the charty's primary objectives. 15. Related parties The Trustees have considered guidance in relation to related paty transactions and believe there are no transactions that require disclosure. 11 Arura Nl Trust Company Limited by Guarantee Management Infomiation Year ended 31 December 2023 The following pagos do not forni part of the financial statements. 12 Arura Nl Trust Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 December 2023 2023 Income and endowments Donations and legacies Donations Capital introduced 2023 Weekend Registration Fees 300 22,742 3,025 26,067 Total income 26,067 Expenditure on charitable activities Charitable Aetivity Activities undertaken direclly Activities Trust expenses 5,136 585 5.721 Governance costs Governance costs - accountancy fees Bank charges 30 870 Total expenditure 6,591 Net income 19,476 13