The Joseph Woods Trust Ltd Charity Accounts

COMPANY REGISTRATION NUMBER: NI725452

CHARITY REGISTRATION NUMBER: 110561

The Joseph Woods Trust Ltd

Company Limited by Guarantee

Unaudited Financial Statements

31 January 2026

The Joseph Woods Trust Ltd

Company Limited by Guarantee

Financial Statements

Period from 15 January 2025 to 31 January 2026

	Page

Trustees' annual report (incorporating the director's report)	1

Statement of financial activities (including income and expenditure account)	6

Statement of financial position	7

Statement of cash flows	8

Notes to the financial statements	9

The Joseph Woods Trust Ltd

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Period from 15 January 2025 to 31 January 2026

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the period ended 31 January 2026 .

Reference and administrative details

Registered charity name	The Joseph Woods Trust Ltd

Charity registration number	110561

Company registration number	NI725452

Principal office and registered	Schomberg House
office	368 Cregagh Road
	Belfast
	BT6 9EY
	Northern Ireland

The trustees

	Mr. D. Cargo	(Appointed 15 January 2025)
	Rev. Dr. S. Gamble	(Appointed 15 January 2025)
	Mr. J. Magee	(Appointed 15 January 2025)
	Dr. J. Mattison	(Appointed 15 January 2025)
	Mr. L. Singleton	(Appointed 15 January 2025)
	Mr. J. Woods	(Appointed 15 January 2025)

Company secretary	Mr. I. Carlisle

Structure, governance and management

The charity is a company limited by guarantee, incorporated in Northern Ireland on 15 January 2025 under company number NI725452 , and is governed by its Memorandum and Articles of Association. The company does not have a share capital and, in the event of it being wound up, the liability of each member is limited to £1.

The charity was subsequently entered onto the register of charities maintained by the Charity Commission for Northern Ireland (CCNI) under charity reference number 110561 on 15th May 2025, and was recognised by HM Revenue & Customs as a charity for tax purposes 21 July 2025. On 21 May 2025 the trustees approved a change to charity's articles of association to widen the age range of the charity's beneficiaries to 7-25 years.

Appointment and training of trustees

Trustees are appointed in accordance with the Articles of Association, which allows for a total of 7 trustees. The first trustees were appointed upon incorporation. Save for the founder trustee, Mr. Joseph Woods, and an Ex-officio trustee who is a senior office holder of the member organisation, the charity's member may appoint any other person to be a a trustee in writing delivered to a meeting of the trustees. All trustees are required to comply with the charity's articles and memorandum of of association and are briefed on their duties and responsibilities as charity trustees and company directors, including their obligations under the Charities Act (Northern Ireland) 2008 and the Companies Act 2006.

Organisational structure and decision making

The charity is administered by its trustees, who meet as required to consider the management and development of the charity's activities. All decisions concerning the charity's objects, activities and administration are taken collectively by the trustees. During the period the trustees met to discuss the establishment of the charity and to plan its future activities, as described further below. No members of staff were employed during the period and the charity did not delegate authority to any sub-committee.

Risk management

The trustees have given consideration to the major risks to which the charity is exposed. As the charity had not yet commenced its charitable activities during the period, the principal risk identified was the successful establishment of the charity's governance and operational structures, and the development of a viable basis on which to deliver its objects, including the proposed pilot scheme referred to below. The trustees will keep the charity's risk profile under review as its activities develop, and will put in place systems to manage financial and operational risk once the charity begins to transact.

Objectives and activities

The Charity's objects are to relieve and prevent poverty among young protestant males between the ages of 7 and 25 years old.

Public benefit

In exercising their powers and duties, and in planning the charity's future activities, the trustees have had regard to the guidance on public benefit issued by the Charity Commission for Northern Ireland under section 3 of the Charities Act (Northern Ireland) 2008, and are satisfied that the charity's objects and proposed activities are, and will continue to be, for the public benefit.

Aims and approach for the period

As this was the charity's first accounting period, the trustees' aim was to establish the charity on a sound legal and governance footing and to begin identifying practical means of advancing its objects, before the charity commenced any programme of activity or incurred any expenditure.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Achievements and performance

During the period from incorporation to 31 January 2026, the charity did not carry out any direct charitable activities and did not receive any income or incur any expenditure. The trustees' work during the period was concentrated on establishing the charity, and included:

- preparing and adopting the Memorandum and Articles of Association and incorporating the charity as a company limited by guarantee;

- registering the charity with the Charity Commission for Northern Ireland (registration confirmed;

- obtaining recognition of the charity's charitable status for tax purposes from HM Revenue & Customs;

- putting in place the charity's initial governance arrangements, including appointing the first trustees and agreeing arrangements for the conduct of trustee meetings; and

- holding a trustees' meeting to consider how best to advance the charity's objects, including preliminary discussions on a possible pilot scheme to be run in partnership with a primary school.

At the date of approval of these financial statements, further work remains to be done to develop the proposed pilot scheme with a primary school, and the trustees have not yet reached a final decision on its scope, timing or funding. This accordingly remains an objective for future periods, as set out below.

Financial review

The charity received no income and incurred no expenditure during the period from incorporation to 31 January 2026. Accordingly, the charity had no net movement in funds for the period and held no assets, liabilities or funds at 31 January 2026.

Reserves policy

As this is the charity's first accounting period, and given that the charity has not yet received any income or incurred any expenditure, the trustees have not considered it necessary or practicable to formulate a formal reserves policy at this time. The trustees will develop and formally adopt a reserves policy once the charity begins to receive income and/or incur expenditure. That policy will set out the level of unrestricted free reserves the trustees consider the charity needs to hold, having regard to its plans, commitments and the risks it faces, and will be reviewed by the trustees periodically thereafter.

Going concern

The trustees have considered the charity's position at the date of approval of the financial statements and consider it appropriate to prepare the financial statements on a going concern basis.

Plans for future periods

In the future, the trustees intend to build on the governance foundations established during this period by:

- continuing to develop and, where appropriate, launch the proposed pilot scheme in partnership with a primary school, as a practical means of advancing the charity's objects;

- identifying and securing sources of funding to support the charity's activities;

- developing the charity's financial systems and internal controls in readiness for the charity beginning to receive income and incur expenditure; and

- formally adopting a reserves policy, and reviewing other governance policies as necessary, once the charity's activities and finances develop.

The trustees' annual report and the strategic report were approved on 9 October 2026 and signed on behalf of the board of trustees by:

Mr. J. Magee

Trustee

The Joseph Woods Trust Ltd

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Period from 15 January 2025 to 31 January 2026

	Period from 15 Jan 25 to 31 Jan 26
	Unrestricted funds	Total funds
Note	£	£

Income and endowments

Donations and legacies	5	2,350	2,350
		-------	-------
Total income		2,350	2,350
		-------	-------

Expenditure

Expenditure on charitable activities	6,7	2,350	2,350
		-------	-------
Total expenditure		2,350	2,350
		-------	-------

Reconciliation of funds

Total funds brought forward	–	–
	-------	-------
Total funds carried forward	–	–
	-------	-------

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

All income and expenditure derive from continuing activities.

The Joseph Woods Trust Ltd

Company Limited by Guarantee

Statement of Financial Position

31 January 2026

	31 Jan 26
Note	£

For the period ending 31 January 2026 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

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

These financial statements have been prepared in accordance with 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 9 October 2026 , and are signed on behalf of the board by:

Mr. J. Magee

Trustee

The Joseph Woods Trust Ltd

Company Limited by Guarantee

Statement of Cash Flows

Period from 15 January 2025 to 31 January 2026

	31 Jan 26
	£
Net decrease in cash and cash equivalents	–
Cash and cash equivalents at beginning of period	–
	----
Cash and cash equivalents at end of period	–
	----

The Joseph Woods Trust Ltd

Company Limited by Guarantee

Notes to the Financial Statements

Period from 15 January 2025 to 31 January 2026

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Schomberg House, 368 Cregagh Road, Belfast, BT6 9EY, Northern Ireland.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', 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 (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. 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 ability to continue.

Judgements and key sources of estimation uncertainty

Significant judgements In preparing the financial statements, the trustees have considered the nature of the relationship between the charity and the Grand Orange Lodge of Ireland (“GOLI”). GOLI is the sole member of the charity and has significant rights under the charity’s governing document, including rights in relation to the appointment of trustees and the exercise of members’ voting rights. Having regard to these rights and to the degree of concurrence between the purposes and activities of the two organisations, the trustees have concluded that GOLI controls the charity for accounting purposes and is, therefore, a related entity. In preparing the financial statements, the trustees have made judgements in determining the recognition and valuation of services provided to the charity without charge by GOLI. Donated services are recognised where the charity would otherwise have been required to purchase those services and their value can be measured reliably. They are measured at the amount the charity would have paid to obtain equivalent services on the open market, with an equivalent amount recognised as expenditure. The trustees do not consider there to be any key sources of estimation uncertainty which give rise to a significant risk of material adjustment to the carrying amounts of assets or liabilities in the following financial year.

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 future project or commitment. Restricted funds are subjected to restrictions on their expenditure 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.

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 benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if 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 is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is 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 activities 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 benefit of its beneficiaries, including those support costs and costs relating to the governance 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 activity are allocated directly to that activity. 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 liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently 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 terms 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 impairment 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 equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised 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 impairment not previously been recognised.

4. Limited by guarantee

The charity is constituted as a company limited by guarantee. If the charity is dissolved, any member at that time, of within one year after ceasing to be a member, is required to pay up to £1 towards:

- payment of those debts and liabilities of the charity incurred before ceasing to be a member;

- payment of the costs, charges and expenses of winding up; and

- the adjustment of rights of contributors among themselves.

5. Donations and legacies

		Unrestricted Funds	Total Funds 2026
		£	£

Donations

Donations of services	2,350	2,350
	-------	-------

6. Expenditure on charitable activities by fund type

	Unrestricted Funds	Total Funds 2026
	£	£
Support costs	2,350	2,350
	-------	-------

7. Expenditure on charitable activities by activity type

	Support costs	Total funds 2026
	£	£
Governance costs	2,350	2,350
	-------	-------

8. Staff costs

The average head count of employees during the period was Nil.

No employee received employee benefits of more than £60,000 during the year (2025: Nil).

9. Trustee remuneration and expenses

Dr. J. Mattison is a trustee of the charity and is employed by the Grand Orange Lodge of Ireland, the charity's sole member and controlling entity. Dr. Mattison's employment is in a role wholly unrelated to his duties as a trustee of the charity.

During the period from incorporation of the charity to 31st January 2026 Dr. Mattison received remuneration of £41,493 from the Grand Orange Lodge of Ireland under a contract of employment. Employer pension contributions of £1,245 were paid. No remuneration or other benefits were paid to Dr. Mattison by the charity in respect of his role as a trustee of the charity.

No remuneration or other benefits from employment with the charity or a related entity were received by any other trustees.

10. Analysis of charitable funds

Unrestricted funds

	At 15 January 2025	Income	Expenditure	At 31 January 2026
	£	£	£	£
General funds	–	2,350	(2,350)	–
	----	-------	-------	----

11. Analysis of changes in net debt

At 15 Jan 2025	Cash flows	At 31 Jan 2026
£	£	£

12. Related parties

The Grand Orange Lodge of Ireland (“GOLI”) is the sole member and controlling entity of the charity. During the period under review, GOLI paid expenses on behalf of the charity totalling £1,850. The charity also received administrative support and the use of the GOLI's offices at no charge. The value to the charity of these services has been estimated at £500. The value of the expenses and services have been recognised as donated income with an equivalent amount included within expenditure. At the balance sheet date, no amounts remained due to, or by, GOLI.

13. Controlling party

The Grand Orange Lodge of Ireland (“GOLI”), an unincorporated association whose principal place of business is Schomberg House, 368 Cregagh Road, Belfast BT6 9EY, is the sole member and controlling entity of the Charity. GOLI’s principal activities include the promotion of the Protestant faith, community capacity building, charitable support and benevolence. GOLI exercises control through its rights as the sole member of the charity, including its powers in relation to the appointment of trustees and the exercise of members’ voting rights.