ACCOUNTS - Final Accounts preparation

Registered number: NI014040

Charity number: NIC100264

Grent Trust Limited
(A Company Limited by Guarantee)

Unaudited

Trustees' report and financial statements

For the year ended 31 December 2025

Grent Trust Limited
(A Company Limited by Guarantee)

Contents

	Page
Reference and administrative details of the Company, its Trustees and advisers	1
Trustees' report	2 - 4
Independent examiner's report	5 - 6
Statement of financial activities	7
Balance sheet	8 - 9
Notes to the financial statements	10 - 17

Grent Trust Limited
(A Company Limited by Guarantee)

Reference and administrative details of the Company, its Trustees and advisers

For the year ended 31 December 2025

Trustees	D A Houston
	M Bell OBE
	P Ritchie

Company registered number

NI014040

Charity registered number

NIC100264

Registered office

c/o Sumer Accountants NI Ltd

Glendinning House

6 Murray Street

Belfast

BT1 6DN

Independent Examiner

Sumer Accountants NI Ltd

4th Floor

Glendinning House

6 Murray Street

Belfast

BT1 6DN

Bankers

Ulster Bank Ltd

PO Box 232

11-16 Donegall Square East

Belfast

BT1 5UB

Solicitors

George L MacLaine & Co

Imperial Buildings

72 High Street

Belfast

BT1 2BE

Page 1

Grent Trust Limited
(A Company Limited by Guarantee)

Trustees' report

For the year ended 31 December 2025

The Trustees present their annual report together with the financial statements of the Company for the year 1 January 2025 to 31 December 2025. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document 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 Trustees have referred to the Charity Commission's guidance notes on public benefit when considering the objectives and activities of the charity.

The Trustees have the power to apply the funds in such a manner as they think fit or for the benefit of any charitable object or purpose. Grants are only made to other UK registered charities. The Trustees identify projects and organisations they wish to support and so the Trust does not make grants to persons or organisations that apply speculatively.

The directors currently have a policy of supporting three types of activity - religious organisations, medical charities and Third World relief.

b. Strategies for achieving objectives

The Grent Trust's Mission is:
1. to use investments prudently to generate income;
2. to maximise the sustainability of its revenue base;
3. to make a difference to the supported charities;
4. to support the growth of local and Christian charities; and
5. to improve the physical, mental and spiritual well-being of people.

c. Risk Management

Grent Trust's objective is to identify and manage those risks which are likely to occur, and if they did, would have significant impact on Grent Trust. The Trust will utilise risk management techniques in all aspects of its operations and will integrate risk management as part of its culture. Annually the Trust will identify, prioritise and assess the risk that it is subject to. Procedures to control and monitor the risk will then be identified.

Achievements and performance

a. Main achievements of the Company

The Trust was able to allocate grants of £41,000 for the year, details of which are given in Note 7 of the accounts.

Page 2

Grent Trust Limited
(A Company Limited by Guarantee)

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The reserves are kept at an adequate level to ensure the future of the Charity.

Structure, governance and management

a. Constitution

Grent Trust Limited is a charity established on 31 December 1979, registration number NI014040, and is
governed by its Memorandum and Articles of Association and the Companies Act 2006. It is recognised as a
charity by H M Revenue & Customs, reference XN 56712, and by the Charity Commission of Northern Ireland,
reference NIC100264.

b. Methods of appointment or election of Trustees

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.

The directors resign and are eligible for re-election on a three year tenure as required by the Companies Act. When there is a requirement for new directors, these are identified and appointed by the remaining directors, subject to re-election at the next annual general meeting. Suitable induction training is given to new directors.

c. Organisational structure and decision-making policies

The Trustees, who are the directors, are responsible for governance. The day to day administration, originally delegated to a Trustee, is now handled externally with Board oversight.

The Trustee who served the company during the period were as follows:
D A Houston
M Bell OBE
P Ritchie

Page 3

Grent Trust Limited
(A Company Limited by Guarantee)

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

∙select suitable accounting policies and then apply them consistently;

∙observe the methods and principles of the Charities SORP (FRS 102);

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

D A Houston Trustee
Date: 6 July 2026

Page 4

Grent Trust Limited
(A Company Limited by Guarantee)

Independent examiner's report

For the year ended 31 December 2025

Independent Examiner's Report to the Trustees of Grent Trust Limited

I report on the financial statements of the company for the year ended 31 December 2025 which are set out on pages 7 to 17.

Respective responsibilities of charity Trustees and examiner

As the company's trustees (and also the directors of the company for the purpose of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the company is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:

∙examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;

∙follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act; and

∙state whether particular matters have come to my attention.

Basis of independent examiner's statement

I have examined your company accounts as required under section 65 of the Charities Act and my 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.

My examination included a review of the accounting records kept by the company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as company trustees concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe:

1.	that accounting records were not kept in accordance with section 386 of the Companies Act 2006;
2.	that the accounts do not accord with those accounting records;
3.	that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities 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 (FRS 102);
4.	that there is further information needed for a proper understanding of the accounts to be reached.

Page 5

Grent Trust Limited
(A Company Limited by Guarantee)

Independent examiner's report (continued)

For the year ended 31 December 2025

Independent examiner's statement

I have completed my examination and have no concerns in respect of the matters listed (1-4) above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

This report is made solely to the company's Trustees, as a body, in accordance with section 65(3)(a) of the Charities Act (Northern Ireland) 2008 and regulations made under section 66 of that Act. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.

Signed: Dated: 6 July 2026

Amanda McMaw FCA

Sumer Accountants NI Ltd

Glendinning House

6 Murray Street

Belfast

BT1 6DN

Page 6

Grent Trust Limited
(A Company Limited by Guarantee)

Statement of financial activities (incorporating income and expenditure account)

For the year ended 31 December 2025

	Unrestricted funds 2025	Total funds 2025	Total funds 2024
Note	£	£	£

Income from:
Investments	2	141,611	141,611	153,444
Total income		141,611	141,611	153,444

Expenditure on:
Raising funds	3	43,675	43,675	54,285
Charitable activities	4	51,709	51,709	33,524
Total expenditure		95,384	95,384	87,809

Net income

46,227

65,635

Other recognised gains/(losses):
Gains on revaluation of fixed assets	8	48,267	48,267	-
Net movement in funds		94,494	94,494	65,635

Reconciliation of funds:
Total funds brought forward	12	1,303,444	1,303,444	1,237,809
Net movement in funds	12	94,494	94,494	65,635
Total funds carried forward		1,397,938	1,397,938	1,303,444

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

The notes on pages 10 to 17 form part of these financial statements.

Page 7

Grent Trust Limited
(A Company Limited by Guarantee)

Registered number: NI014040

Balance sheet

As at 31 December 2025

			2025		2024
	Note		£		£

Fixed assets
Investment property	8		735,000		686,733
			735,000		686,733
Current assets
Debtors	9	147,673		88,780
Cash at bank and in hand		525,233		530,781
		672,906		619,561
Current liabilities
Creditors: amounts falling due within one year	10	(9,968)		(2,850)
Net current assets			662,938		616,711
Total assets less current liabilities			1,397,938		1,303,444
Net assets excluding pension asset			1,397,938		1,303,444
Total net assets			1,397,938		1,303,444

Charity funds

Unrestricted funds	12	1,397,938	1,303,444
Total funds		1,397,938	1,303,444

Page 8

Grent Trust Limited
(A Company Limited by Guarantee)

Balance sheet (continued)

As at 31 December 2025

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

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

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

D A Houston
Date: 6 July 2026
The notes on pages 10 to 17 form part of these financial statements.

Page 9

Grent Trust Limited
(A Company Limited by Guarantee)

Notes to the financial statements

For the year ended 31 December 2025

1.Accounting policies

1.1

Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: 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 (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Grent Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2

Going concern

The Trustees of Grent Trust Limited have reviewed the appropriateness of the going concern assumption and consider that the company has sufficient resources to continue as a trading entity for the foreseeable future.

1.3

Income

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.

1.4

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

1.5

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Page 10

Grent Trust Limited
(A Company Limited by Guarantee)

Notes to the financial statements

For the year ended 31 December 2025

1.Accounting policies (continued)

1.6

Investments

In accordance with FRS 102 the investment property portfolio is stated at fair value with all gains or impairments reported through the Statement of Financial Activities. Fair value is determined by reference to valuations carried out by appropriately qualified external valuers.

1.7

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.8

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.9

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

1.10

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

Page 11

Grent Trust Limited
(A Company Limited by Guarantee)

Notes to the financial statements

For the year ended 31 December 2025

2.	Investment income

		Unrestricted funds 2025	Total funds 2025	Total funds 2024
		£	£	£


Investment income	126,762	126,762	138,363
Bank interest	14,849	14,849	15,081
	141,611	141,611	153,444
Total 2024	153,444	153,444

Raising funds



Unrestricted funds 2025	Total funds 2025	Total funds 2024
£	£	£


Ground rents payable	6,844	6,844	11,956
Rent collection costs	15,483	15,483	17,128
Commission on payments	21,348	21,348	25,201
	43,675	43,675	54,285
Total 2024	54,285	54,285

Page 12

Grent Trust Limited
(A Company Limited by Guarantee)

Notes to the financial statements

For the year ended 31 December 2025

4.	Charitable Activities


		Unrestricted funds 2025	Total 2025	Total 2024
		£	£	£


Grants to UK Registered Charities (Note 7)	41,000	41,000	17,000
Insurance	4,893	4,893	4,824
Bank Charges	184	184	178
Administration Fees	1,344	1,344	2,123
Accountancy Fees	2,520	2,520	4,920
Storage	850	850	1,370
Property Maintenance	918	918	3,109
	51,709	51,709	33,524
Total 2024	33,524	33,524

5.	Independent examiner's remuneration
		2025	2024
		£	£

Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts (excluding VAT)	2,175	2,100
Fees payable to the Company's independent examiner in respect of:
Secretarial services (excluding VAT)	1,140	1,100

6.	Trustees' remuneration and expenses
	During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 31 December 2025, no Trustee expenses have been incurred (2024 - £NIL).

Page 13

Grent Trust Limited
(A Company Limited by Guarantee)

Notes to the financial statements

For the year ended 31 December 2025

7.	Analysis of grants to UK registered charities
		2025	2024
		£	£


Fields of Life	11,000	-
ICEJ - Ireland & NI Branch	3,000	-
One Equine Trust	20,000	10,000
Cancer Focus NI	7,000	7,000
	41,000	17,000

8.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 January 2025	686,733
	Gain on revaluation	48,267
	At 31 December 2025	735,000

The investment property is held for ground rental income and is stated at fair value. The property was valued as at 31 December 2025 by an independent, professionally qualified external valuer. The valuation was undertaken using market-based evidence and rental yield assumptions appropriate to the nature of the property. No material changes in valuation technique were applied during the year.

9.	Debtors
		2025	2024
		£	£


Due within one year
Trade debtors	143,889	85,752
Prepayments and accrued income	3,784	3,028
	147,673	88,780

Trade debtors includes a bad debt provision of £68,000 (2024: £68,000)

Page 14

Grent Trust Limited
(A Company Limited by Guarantee)

Notes to the financial statements

For the year ended 31 December 2025

10.	Creditors: Amounts falling due within one year
		2025	2024
		£	£


	Accruals and deferred income	9,968	2,850

11.	Share Capital
		2025	2024
		£	£

Allotted, called up and fully paid
100 Ordinary Shares of £1 each	100	100
	100	100

Page 15

Grent Trust Limited
(A Company Limited by Guarantee)

Notes to the financial statements

For the year ended 31 December 2025

12.

Statement of funds

Statement of funds - current year
	Balance at 1 January 2025 £	Income £	Expenditure £	Gains/ (Losses) £	Balance at 31 December 2025 £
Unrestricted funds

General Funds - all funds	1,303,344	141,611	(95,384)	48,267	1,397,838
Share Capital	100	-	-	-	100
	1,303,444	141,611	(95,384)	48,267	1,397,938

Statement of funds - prior year
	Balance at 1 January 2024 £	Income £	Expenditure £	Balance at 31 December 2024 £
Unrestricted funds

General Funds - all funds	1,237,709	153,444	(87,809)	1,303,344
Share Capital	100	-	-	100
	1,237,809	153,444	(87,809)	1,303,444

Page 16

Grent Trust Limited
(A Company Limited by Guarantee)

Notes to the financial statements

For the year ended 31 December 2025

13.

Analysis of net assets between funds

Analysis of net assets between funds - current year
	Unrestricted funds 2025	Total funds 2025
	£	£

Investment property	735,000	735,000
Current assets	672,906	672,906
Creditors due within one year	(9,968)	(9,968)
Total	1,397,938	1,397,938

Analysis of net assets between funds - prior year
	Unrestricted funds 2024	Total funds 2024
	£	£

Investment property	686,733	686,733
Current assets	619,561	619,561
Creditors due within one year	(2,850)	(2,850)
Total	1,303,444	1,303,444

14.	Related party transactions

The charity has not entered into any related party transaction during the year (2024: £Nil) , nor are there any outstanding balances owing between related parties and the charity at 31 December 2025 (2024: £Nil).

Page 17