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Registered number:
Charity number:
(A Company Limited by Guarantee)
For the Year Ended 31 May 2025
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The James Kane Foundation
(A Company Limited by Guarantee)
Contents
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The James Kane Foundation
(A Company Limited by Guarantee)
Reference and Administrative Details of the Company, its Trustees and Advisers
For the Year Ended 31 May 2025
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The James Kane Foundation
(A Company Limited by Guarantee)
Trustees' Report
For the Year Ended 31 May 2025
The Trustees present their annual report together with the audited financial statements of the Company for the year 1 June 2024 to 31 May 2025. The Annual Report serves the purpose of both a Trustees’ Report and a Directors’ Report under company law. The Trustees confirm that the Annual Report and Financial Statements of the Charity comply with the current statutory requirements of the Charity’s Memorandum and Articles of Association and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objectives of The James Kane Foundation, in accordance with the Charity Commission’s guidance on public benefit, are:
“To advance education for the public benefit in Portadown and its environs in particular and elsewhere in Northern Ireland whether directly to individuals or indirectly through education bodies such as schools, colleges or third level institutions or employers by the provision of funding for work experience, employment opportunities or training opportunities or for preparation for entry to any occupation, vocation, trade or profession or to enhance career development, skills and competencies within the area of benefit provided that the funding will not be used for anything which schools or colleges have a statutory duty to provide” And “To provide any other purpose which is exclusively charitable according to the law of NI”
b. Activities undertaken to achieve objectives
• enabling STEM related education and career opportunities. • enabling students to make the correct choices between employment/career and higher-level education pathways. • Identifying and supporting emerging trends. The Charity has supported a range of projects including direct bursaries and scholarships for those faced with financial barriers to education and employment; schools and industry to ensure support and mentoring for young people and apprenticeships within the engineering sector; and projects to champion digital technology across all subjects of the post-primary curriculum. At a strategic level it has supported research projects that assess current delivery models within schools and supported resource sharing across schools impacting on hundreds of teachers and pupils alike. It has recognized and supported unique needs of more vulnerable students while ensuring they too can be equipped with skills for employment. The Charity continues to engage with a range of stakeholders to enable Trustees to keep abreast of wider policy development, initiatives, trends, and emerging needs that can help inform its ongoing and strategic decision making.
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The James Kane Foundation
(A Company Limited by Guarantee)
Achievements and performance
a. Key performance indicators
The charity holds its funds in investments and draws these down as needed to meet its grant commitments. The availability of significant cash funds to the Charity has afforded the Trustees the opportunity to carefully and strategically consider the charitable opportunities now open to it, and the manner in which it can make a meaningful and substantial impact in the short and longer term.
b. Review of activities
The following achievements and performance reflect the main expenditure in the year and mostly came in the form of the provision of grants.
• MEGA Mentor Now Programme extension - £104,793 was granted this year to support this project which seeks to encourage and retain engineering apprenticeships by providing essential mentor support. Two posts, Mentoring & Support Coordinator and Education, Mentoring & Support Officer, will further develop the MEGA Mentor Now Programme to bring industry into schools and let young people understand the opportunities of working within local manufacturing companies. It will also promote, influence and develop degree apprenticeships courses (level 6 & 7) with Queen's University and Ulster University and continue to work with Regional Colleges (level 2 to 5) to increase the number of apprenticeships structured to meet the needs of Industry. • Supporting Communities James Kane Foundation Scholarship - £11,135 was awarded to target students in the Armagh, Banbridge & Craigavon Council (ABC) area who are applying to Queen's or Ulster University to study STEM (Science, Technology, Engineering, Mathematics) degrees. Three students were recruited, one from Portadown College, studying Mechanical Engineering at Ulster University, one from St Patrick's High School Keady, pursuing Software Engineering at Queen's University and finally a student from Lismore Comprehensive studying Physics at Queen's University. • Southern Regional College Scholarship Award - £10,800 was granted to support financially disadvantaged higher education students living within the Armagh, Banbridge and Craigavon council area. These scholarship awards help students stay in education and complete their course by providing funding to pay tuition fees and other course related costs such as equipment, materials, and travel expenses. Five students were successful in the year year. • Shankill Principals Area Learning Community (ALC) - £10,000 was paid as first of six payments for a three-year project which funds a coordinator post to establish the Shankill Principals ALC. The ALC will develop and encourage collaborative working amongst the schools and the local community. • Stranmillis University College – Centre for Research in Educational Underachievement - £15,921 was awarded to support a research project and the production of a comprehensive report into Effective School Leadership in Disadvantaged Communities. • SistersIN Leadership Programme - this funded project builds girls’ leadership capacity and confidence amongst Sixth Form students. An initial grant of £60,000 was awarded in the previous year, to support the costs of a new Director to take forward the project in terms of activity delivery and moving towards financial sustainability. A second grant payment of £25,000 was payable after the financial year end of this report. • Dreamscheme NI Engaging Young People into Digital Media - £7,800 was granted to this project which aims to equip young people with the competence and confidence needed to engage in the digital media sector. It offers online resources, in person workshops, and mentorship opportunities with industry experts and by digital media learning accessible and engaging, the project builds skills, provides career guidance and inspires participants to pursue careers in STEM pathways. • EOTAS NI Curriculum reform and digital skills hubs - £93,136 was awarded to develop and implement a new OCNNI qualification in Creative Arts and Digital Technologies across all 17 KS4 centres and will include specialist staff training sessions at NERVE Belfast and Derry, W5 LIFE, and AMMA Centre Armagh, covering areas such as photography, filmmaking, game development, and scriptwriting. This project provides pupils from
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The James Kane Foundation
(A Company Limited by Guarantee)
Achievements and performance (continued)
the most disadvantaged backgrounds and that are among the most vulnerable in the school system, with the opportunity to experience a rapidly growing industry and equip them with relevant skills, knowledge and qualifications that will enhance their future career prospects and educational opportunities.
• Workplus Jobs for Me - £38,000 was granted in the year to this project that aims to engage 700 Year 9 and 10 pupils as “Career Explorers” to consider the range of STEM jobs available to them in their community i.e. Antrim and Newtownabbey. The project will inspire pupils to think about their skills, showcase pathways to 40 employers and make correct choices between employment/careers through high level education pathways; and understand why work is good for us. • Young Enterprise NI Building Aspirations Project - £18,308 of funding was awarded to support 18 non-selective schools, with above average free school meals levels, in the Armagh Banbridge and Craigavon Borough Council and Newry Mourne and Down District Council areas. It will provide support to develop a whole-school approach to providing enterprise and financial skills to over 6,000 students annually for up to 3 years in 3 key strands, financial capability, work readiness and entrepreneurship. The Charity has also worked with a number of other organisations and approved support to: • Mary Ann McCracken Bursary programme (Year 3) - £6,000 was awarded in year and paid post year end by the Foundation towards the total bursary fund of £30,000. This fund was made up by donations from the Mary Ann McCracken Foundation and Belfast Charitable Society as well as independent funders, the Hunter Smyth Fund, LFT Charitable Trust and the Raj Darshna Foundation. The bursary programme supported twelve post primary schools in North Belfast Area Learning Community, each of whom received up to £2,500 to support pupils (16+ year-olds) who face financial barriers which may prevent them from continuing to AS / A-Level, further or higher education, employment or apprenticeship. 86 pupils were successful in obtaining support this year. • North Belfast Creative Digital Hub - £85,000 was awarded to a project to develop and champion the use of digital technology in all subject areas of the post-primary curriculum and which enabled access and joint working amongst North Belfast Post Primary schools. During the period, the Charity has had ongoing engagement with several organisations in order to ascertain the nature and extent of current challenges facing the education, training and employment sectors in Northern Ireland, and the barriers facing young people moving between these sectors. Marketing and promotion The Charity continues its online presence through its website and social media profiles including Twitter and LinkedIn accounts. This has allowed it to engage with a wider audience, and to better promote its charitable activities with relevant audiences and stakeholders and is updated on a regular basis.
c. Investment policy and performance
The Charity’s funds are managed by Rathbones (previously managed by Investec Wealth Management who have merged with Rathbones), with whom the Charity has agreed the terms of management of its portfolio. These include a medium-term investment time horizon of 5 years, with a low/medium attitude to risk. This is regularly reviewed with Rathbones to ensure that the needs of the Charity for income and capital investment are adequately balanced. In common with many similar organisations, the performance of the Charity’s investments may be adversely affected by the UK and worldwide economic challenges, but the Trustees are satisfied that the nature of the investments is prudent, and that the ongoing attitude to risk remains appropriate.
Financial review
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The James Kane Foundation
(A Company Limited by Guarantee)
a. Going concern
b. Material investments policy
c. Principal risks and uncertainties
d. Financial risk management objectives and policies
The Trustees have appointed Financial Investment Advisors to provide advice on the financial risk management of its cash balances seeking to balance risk with optimising the return for the Charity.
Structure, governance and management
a. Constitution
The Charity and the group is registered as a charitable company limited by guarantee and was set up by a
Memorandum of Association. The Charity and the group is constituted under a Memorandum of Association and is a registered charity, number NIC105396.
b. Methods of appointment or election of Trustees
c. Financial risk management
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Members' liability
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.
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The James Kane Foundation
(A Company Limited by Guarantee)
Statement of Trustees' responsibilities
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
∙so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
∙that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Sumer AuditCo NI Ltd, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
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The James Kane Foundation
(A Company Limited by Guarantee)
Independent Auditors' Report to the Members of The James Kane Foundation
We have audited the financial statements of The James Kane Foundation (the 'charitable company') for the year ended 31 May 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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The James Kane Foundation
(A Company Limited by Guarantee)
Independent Auditors' Report to the Members of The James Kane Foundation (continued)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
∙the Trustees' Report has been prepared in accordance with applicable legal requirements.
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of Trustees' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit; or
∙the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
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The James Kane Foundation
(A Company Limited by Guarantee)
Independent Auditors' Report to the Members of The James Kane Foundation (continued)
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We considered the opportunities and incentives that exist within the organisation for fraud and identifed the greatest potential for fraud in the following areas, Management override of controls and revenue recognition. We discussed these risks with client management and designed audit procedures to respond to these risks by testing a sample of journals posted throughout the year, and to test a sample of income items received during the year.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
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The James Kane Foundation
(A Company Limited by Guarantee)
Independent Auditors' Report to the Members of The James Kane Foundation (continued)
for and on behalf of
Statutory Auditors
4th Floor
Glendinning House
6 Murray Street
Belfast
BT1 6DN
Sumer AuditCo NI Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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The James Kane Foundation
(A Company Limited by Guarantee)
Statement of financial activities (incorporating income and expenditure account)
For the Year Ended 31 May 2025
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The James Kane Foundation
(A Company Limited by Guarantee)
Registered number: NI637659
Balance Sheet
As at 31 May 2025
The financial statements were approved and authorised for issue by the Trustees on
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The James Kane Foundation
(A Company Limited by Guarantee)
Registered number: NI637659
Balance Sheet (continued)
As at 31 May 2025
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The James Kane Foundation
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 31 May 2025
1.Accounting policies
The charity has elected not to include a cash flow statement in the financial statements, as it qualifies as a small entity under the Charity SORP (FRS 102) criteria. The decision is based on the charity’s size, as it does not meet the thresholds requiring the preparation of a cash flow statement.
The financial statements have been prepared on a going concern basis, which assumes that the Foundation will continue its operations for the foreseeable future, being at least 12 months from the approval of these financial statements.
The Trustees have considered the Foundation’s current financial position, including its cash reserves and the substantial value of its investments. As of the reporting date, the Foundation holds cash balances and liquid assets sufficient to meet its short-term obligations and fund ongoing operations. Additionally, the value of its investment portfolio provides a strong financial cushion, supporting liquidity needs even in the event of unforeseen challenges. Therefore, there are no material uncertainties that may cast significant doubt on the Foundation’s ability to continue as a going concern.
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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The James Kane Foundation
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 31 May 2025
1.Accounting policies (continued)
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The James Kane Foundation
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 31 May 2025
1.Accounting policies (continued)
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The James Kane Foundation
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 31 May 2025
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The James Kane Foundation
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 31 May 2025
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The James Kane Foundation
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 31 May 2025
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The James Kane Foundation
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 31 May 2025
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The James Kane Foundation
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 31 May 2025
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The James Kane Foundation
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 31 May 2025
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