Cathedral Eye Research Foundation iXBRL

Cathedral Eye Research Foundation

Annual Report and Unaudited Financial Statements

for the financial year ended 31 December 2024

Cathedral Eye Research Foundation

REFERENCE AND ADMINISTRATIVE INFORMATION


Director	Jonathan Moore


Charity Number in Northern Ireland	NI108709


Company Registration Number	NI612979


Independent Examiner	Muldoon
	16 Mount Charles
	Antrim
	BT7 1NZ

Cathedral Eye Research Foundation

DIRECTOR'S ANNUAL REPORT

for the financial year ended 31 December 2024

The director presents their Director's Annual Report, combining the Director's Report and Trustee's Report, and the unaudited financial statements for the financial year ended 31 December 2024.

The financial statements are prepared in accordance with the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Director's Report contains the information required to be provided in the Director's Annual Report under the Statement of Recommended Practice (SORP) guidelines. The director of the charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees.

In this report the director of Cathedral Eye Research Foundation present a summary of its purpose, governance, activities, achievements and finances for the financial year 31 December 2024.

The charity is a registered charity and hence the report and results are presented in a form which complies with the requirements of the Companies Act 2006 and, although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements.

Financial Review

The results for the financial year are set out on page 7 and additional notes are provided showing income and expenditure in greater detail.

Results and Dividends

At the end of the financial year the charity has assets of £3,700 (2023 - £3,708) and liabilities of £600 (2023 - £600). The net assets of the charity have decreased by £(8).

Director

The current director is as set out on page 3

Jonathan Moore

Compliance with Sector-Wide Legislation and Standards

The charity engages pro-actively with legislation, standards and codes which are developed for the sector. Cathedral Eye Research Foundation subscribes to and is compliant with the following:

The Companies Act 2006

The Charities SORP (FRS 102)

Approved by the Board of Directors on 23 April 2025 and signed on its behalf by:

Jonathan Moore

Trustee

Cathedral Eye Research Foundation

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

for the financial year ended 31 December 2024

The director is responsible for preparing the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the director must not approve the financial statements unless they is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and estimates that are reasonable and prudent;

state whether the financial statements have been prepared in accordance with the relevant financial reporting framework, identify those standards, and note the effect and the reasons for any material departure from those standards; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The director confirms that they has complied with the above requirements in preparing the financial statements.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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 Companies Act 2006. They is 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.

Approved by the Board of Directors on 23 April 2025 and signed on its behalf by:

Jonathan Moore

Trustee

Cathedral Eye Research Foundation

INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF DIRECTORS OF CATHEDRAL EYE RESEARCH FOUNDATION

We have examined the financial statements of the charity for the financial year ended 31 December 2024, which comprise the Statement of Financial Activities (incorporating an Income and Expenditure Account), the Balance Sheet and the related notes.

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members, as a body, for our work, or for this report.

Respective responsibilities of director and examiner

The charity's trustees (who are also the directors of the company for the purposes of company law) is responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. The charity's director consider that an audit is not required for this financial year under Chapter 3 of Part 16 of the Companies Act 2006 and that an independent examination is required.

It is our responsibility to:

examine the financial statements under section 65 of the Charities Act;

follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and

state whether particular matters have come to our attention.

Basis of independent examiner's report

We have examined your charity financial statements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the director concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

In connection with our examination, no matter has come to our attention which gives us cause to believe that in, any material respect:

accounting records were not kept in accordance with section 386 of the Companies Act 2006

the financial statements do not accord with those accounting records

the financial statements have not been prepared in accordance with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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 (FRS102)

there is further information needed for a proper understanding of the accounts to be reached.

Independent examiner's statement

We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

MULDOON

16 Mount Charles

Antrim

BT7 1NZ

Date: 23 April 2025

Cathedral Eye Research Foundation

STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating an Income and Expenditure Account)

for the financial year ended 31 December 2024

Unrestricted

Total

Unrestricted

Total

Funds

Funds

2024

2023

Notes

Income

Other income

3.1

535

375

─────────

Expenditure

Charitable activities

4.1

535

375

Other expenditure

4.2

─────────

Total Expenditure

543

407

─────────

Net income/(expenditure)

(8)

(32)

Transfers between funds

─────────

Net movement in funds for the financial year

(8)

(32)

Reconciliation of funds:

Total funds beginning of the year

3,108

3,140

─────────

Total funds at the end of the year

3,100

3,108

═════════

The Statement of Financial Activities includes all gains and losses recognised in the financial year.

All income and expenditure relate to continuing activities.

Cathedral Eye Research Foundation

Company Number: NI612979

BALANCE SHEET

as at 31 December 2024


		2024	2023
	Notes	£	£
Current Assets

Cash at bank and in hand

3,700

3,708

─────────

Creditors: Amounts falling due within one year

(600)

(600)

─────────

Net Current Assets

3,100

3,108

─────────

Total Assets less Current Liabilities

3,100

3,108

═════════

Funds

General fund (unrestricted)

3,100

3,108

─────────

Total funds

3,100

3,108

═════════

These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

For the financial year ended 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charity.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", applying Section 1A of that Standard.

Approved by the Board of Directors and authorised for issue on 23 April 2025 and signed on its behalf by




Jonathan Moore
Trustee

Cathedral Eye Research Foundation

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2024

GENERAL INFORMATION

Cathedral Eye Research Foundation is a company limited by shares incorporated in Northern Ireland. The registered office of the charity is 89-91 Academy Street, Belfast, BT1 2LS which is also the principal place of business of the charity. The financial statements have been presented in Pound (£) which is also the functional currency of the charity.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements.

Basis of preparation

The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard. As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP.

Statement of compliance

The financial statements of the charity for the financial year ended 31 December 2024 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard.

Fund accounting

The following are the categories of funds maintained:

Restricted funds

Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity.

Unrestricted funds

Unrestricted funds consist of General and Designated funds.

- General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity.
- Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund.

Income

Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity.

Income from charitable activities

Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors.

Grants from governments and other co-funders typically include one of the following types of conditions:

- Performance based conditions: whereby the charity is contractually entitled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by the donor, as income.

-Time based conditions: whereby the charity is contractually entitled to funding on the condition that it is utilised in a particular period. In these cases the charity recognises the income to the extent it is utilised within the period specified in the agreement.

In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the charity is notified of entitlement.

Grants received towards capital expenditure are credited to the Statement of Financial Activities when received or receivable, whichever is earlier.

Expenditure

Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocated to activities in proportion to staff time spent or other suitable measure for each activity.

Cash at bank and in hand

Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal.

Taxation and deferred taxation

No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the charity's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.	INCOME
3.1	OTHER INCOME	Unrestricted	Restricted	2024	2023
		Funds	Funds
		£	£	£	£

	Other income	535	-	535	375
		═════════	═════════	═════════	═════════


4.	EXPENDITURE
4.1	CHARITABLE ACTIVITIES	Direct	Other	Support	2024	2023
		Costs	Costs	Costs
		£	£	£	£	£

	Governance Costs (Note 4.3)	-	-	535	535	375
		═════════	═════════	═════════	═════════	═════════


4.2	OTHER EXPENDITURE	Direct	Other	Support	2024	2023
		Costs	Costs	Costs
		£	£	£	£	£

	Other expenditure	-	8	-	8	32
		═════════	═════════	═════════	═════════	═════════


4.3	GOVERNANCE COSTS	Direct	Other	Support	2024	2023
		Costs	Costs	Costs
		£	£	£	£	£

	Charitable activities - governance costs	-	-	535	535	375
		═════════	═════════	═════════	═════════	═════════


4.4	SUPPORT COSTS	Governance	2024	2023
		Costs
		£	£	£

	Support	535	535	407
		═════════	═════════	═════════


5.	ANALYSIS OF SUPPORT COSTS
		2024	2023
		£	£

	Support	535	407
		═════════	═════════


6.	CREDITORS	2024	2023
	Amounts falling due within one year	£	£

	Accruals and deferred income	600	600
		═════════	═════════


7.	RESERVES

		2024	2023
		£	£

	At the beginning of the year	3,108	3,140
	Deficit for the financial year	(8)	(32)
		─────────	─────────
	At the end of the year	3,100	3,108
		═════════	═════════


8.	FUNDS
8.1	RECONCILIATION OF MOVEMENT IN FUNDS	Unrestricted	Total
		Funds	Funds
		£	£

	At 1 January 2023	3,140	3,140
	Movement during the financial year	(32)	(32)
		─────────	─────────
	At 31 December 2023	3,108	3,108
	Movement during the financial year	(8)	(8)
		─────────	─────────
	At 31 December 2024	3,100	3,100
		═════════	═════════


8.2	ANALYSIS OF MOVEMENTS ON FUNDS
		Balance	Income	Expenditure	Transfers	Balance
		1 January			between	31 December
		2024			funds	2024
		£	£	£	£	£
	Unrestricted funds
	Unrestricted General	3,108	535	543	-	3,100
		─────────	─────────	─────────	─────────	─────────
	Total funds	3,108	535	543	-	3,100
		═════════	═════════	═════════	═════════	═════════


8.3	ANALYSIS OF NET ASSETS BY FUND
		Current	Current	Total
		assets	liabilities

		£	£	£

	Unrestricted general funds	3,700	(600)	3,100
		─────────	─────────	─────────
		3,700	(600)	3,100
		═════════	═════════	═════════

POST-BALANCE SHEET EVENTS

There have been no significant events affecting the Charity since the financial year-end.