THE META O'DONNELL CHARITABLE TRUST FUND (CHARITY NO.108978) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 BradleyAccountlng and Taxation 4 Knockbracken Manor Belfast BT86WQ
THE META O'DONNELL CHARITABLE TRUST FUND CHARITY INFORMATION CHARITY NUMBER: 108978 ACCOUNTANTS: Bradley Accounting & Taxation Chartered Certified Accountants 4 Knockbracken Manor Belfast BT8 6WQ BUSINESS ADDRESS.. St Josephs College 518 Ravenhill Road Belfast.BT6 OBY BANKERS.. Danske Bank Business Branch PO Box 183 Donegall Square West Belfast BTI 6JS
THE META O'DONNELL CHARITABLETRUST FUND CONTENTS TRUSTEES REPORT REPORT Page I INDEPENDENT EXAMINERS REPORT Page 2 STATEMENT OF FINANCIALACTIVITIES Page 3 STATEMENT OF FINANCIAL POSITION Page 4 NOTES TO THE FINANCIAL STATEMENTS Page 5
THE META O'DONNELL CHARITABLE TRUST FUND TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their report and the financial statements for the year ended 31 March 2024 PRINCIPAL ACTIVITY The principal activity of the Charity is providing support and financial assistance to students of Stjosephs College, 518 Ravenhill Road,Belfast,BT6 OBY TRUSTEE BOARD The Trustees who served duringthe year are as stated below: Mrs Michele Nolan Mrjimwoods Mr Gerard Wilson M iss Christine L'estrange Mrs Pauline Leeson The report was approved by the Trustees on 5th December 2024 Page I
Trustee's Re ort for the Year Ended 31st March 2024 The Trustees present their report and the independently examined financial statements for the year ended 31 st March 2024. Governance The Meta O'Donnell Trust Fund is a charity governed by its Trust Deed. The Trust Fund was set up in November 2019 and registered as a charity with the Charities Commission of Northern Ireland under Registration Number 108978. The Trustees who Sered during the year were as follows: Mrs P Leeson Miss C L'Estrange Mrs M Nolan Mr G Wilson Mr J Woods The management of the Trust Fund is the responsibility of the Board of Trustees. None of the Trustees have any beneficial interest in the charity. The Trust Fund met twice during financial year 2023124 to discuss the needs of the pupils in St Joseph's College and to prioritise those needs and plan the appropriate use of the charitable funds. Decisions were made by a resolution of a meeting of Trustees passed by a majority of those present. The Trustees are responsible for maintaining accounting records and are satisfied that the financial systems in place generate high quality information for the Trustees. Objectives and Public Benefit The purpose of the Trust Fund is for the education, recreation and extra-curricular activities of pupils and students attending St Joseph's College and the advancement of citizenship or community development. In fulfilling the public benefit requirement, the Trustees have had regard to the Charity Commission Nl statutory public benefit guidance. The direct benefits which flow from The Trust Fund include the improved outcomes for pupils in St Joseph's College and the increased opportunities to access a better educational journey. During 2023124 the Trust Fund supported pupils through school based awarded hiirqary Rr.hpmps fnr MLlSlf. Thpsp sr.hpmps allnwpd pi Ipilo tn hpnpfit frnm prar.tie.Al and theory music tuition. An extract from a review by the Music Department: "The bursary scheme has greatly benefitted our student's progression in Music. For some, financing lessons would not be possible without a bursary sponsorship and reaching the level required for GCSE practical wouldn't be possible without individual instrumental or vocal tuition. For others this is a great incentive to contribute to the
musical and life of the College through participation in various school events in house and in the community." The Trustees will continue to promote the objectives of the Trust Fund in the years ahead and plan to continue with the Music Bursaries and rolling out bursaries in other areas: PE,. Art., Drama as well as Post 16 opportunities. Financial Performance The Trustees are satisfied with the financial position at the end of the financial year. Declaration This report was approved by the Trustees and signed on its behalf by: Mrs M Nolan Trustee Dated:
THE META O'DONNELL CHARITABLE TRUST FUND Independent Examiner's Report of the Trustees of The Meta O'oonnell Charitable Trust Fund We report on the accounts for the ye8r ended 31 March 2024, which are sel out on pages 3 and 4. Respective responsibilities of trustees and examiner The charity's committee consider th21 an audit is not required for this year (under section 65121 of the Charities Act 1993 Ilhe Act) and that an independent examination is needed. It is our responsibility to.. Examine the accounts (under section 65 of the Act). To follow the procedures laid do in the General Directions given by the Charity Commission (under section 6519){bl of the Acll To slate whether particul8r matters have come lo our attention. Basis of independent examlner's report Our examination was carried oijt in accordance wlh general directions given by the Charity Commission. (under section 6519llbl of the Act) An examination includes a review of the accounting records kept by the charity and a comparison of the accounts PFesented with those records It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as committee members concerning any such matters The procedures undertaken do not provide all the evidence that would be required in an audit and. no opinion is given as lo whether the accounts piesent a 'lrue and fair, view The report is limited to those mallers sel out in the statement below. Independent examiner's statement In the course of our examination no matter has come to our attention.. that gives us reasonable cause to believe that, in any material respect, the requirements.. to keep accounting records in accordance with section 65 01 the Act,. and lo prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act (Northern Ireland) 2008., have not been met., or lo which. in my opinion, attention shoul(J be drawn in order lo enable a proper understanding ul Il Iv dLLuuntS 10 De reacnèd. Bradley Acc nting & Taxation Chartered Certified Accountants Dd.5t11 D¥Lembor 2024 Pagp. 2
THE META O'DONNELL CHARITABLE TRUST FUND INCOME AND EXPENDITURE ACCOUNT FOR YEAR ENDED 31 MARCH 2024 Unrestricted Restricted Funds Fund$ Total Funds 2024 2024 2024 Total Funds 2023 Income Bank interest 1.353 1,353 1.054 1,054 463,747 Donations and Legacies 1,353 1,054 2,407 463,747 enditure Music Bursaries 1,054 1,054 Administrative Expenses Accountancy Legal Fees Refunded Bank Charges 500 500 49 49 60 60 55 Total Ovei'head5 511 511 55 Transfer to Deferred Income Surplusl(Deficit) for Year 842 842 463,692 Page 3
THE META O'DONNELL CHARITABLE TRUST FUND BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Current Assets Danske Bank Current Accounl 63,981 400,000 463,692 Danske Bank Treasury Fixed Term Deposit Current Liabilities Accruals 500 Net Assets 463,481 463.692 Sources of Ca Accumulated Fund Opening Balance- Unrestricted Funds Restricted Funds 463,692 Bursaries Transferred from Restricted Income 1,053 SurpluslDeficitl for Year 463.692 463,481 463,692 These Financial Statements were approved by the Trustees of The Meta O'Donnell Charitable Trust Fund and authorisedfor issue on 5th December 2024. CHAIRPERSON: TREASURER: Page 4
THE META O'DONNELL CHARITABLE TRUST FUND NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Note I Accounting Policies Accountlng Conventlon The financial statements are prepared under the historical cost convention and comply with financial reporting standards of the Accounting Standards Board. Turnover Income ofThe Charity represents monies received from Sales Proceeds generated from a propety bequeathed from the Estate of the Late Teresa Margaret Mary O'Donnell Incomlng Resources From the Sales Proceeds of the bequeathment, monies are distributed to Students primarilyfor Music Bursaries.. Bank interest received is accounted for on accruals basis. Resources Expended All expenditure has been classif led Lrnder headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have all been allocated to activities on a basis consistent with the use of resources. Restricted Funds These are the Balance of Funds remaining after distribution of the Music Bursaries Page 5