Aghalee Village Hall STATEMENT OF FINANCIAL ACTIVITIES for the financial year erKled 31 December 2023 Unrestricted Restricted Funds Funds 2023 2023 Totsl Unrestricted Restricted Funds Funds Funds 2023 2022 2022 Total Funds 2022 Notes Incoming Resources Voluntary Income Activities for generab.ng funds Investments Other income 2.023 30.039 25.671 4.583 27,694 34.622 34,651 16,320 40,209 2,535 74,860 18,855 338 1.173 338 1.173 28 850 28 850 Totsl incoming resources 33.573 30.254 63.827 51,849 42,744 94,593 Resources Expended Charitable activities 41.767 33.013 74.780 61,166 19,906 81,072 Net incomingloutgoing resources before transfers 18.194 12.759 110.9531 {9,3171 22,838 13,521 Gross transfers between funds 6.758 16.758 (2,434) Net movement in funds for the financial year 11.436) 19.517) 110.9531 {6.8831 20,404 13,521 Reconeiliation of funds- Tol81 funds beginning of the year 14 269.243 36.186 305A29 276,126 15,782 291,908 Total funds at the end of the year 267.807 26.669 294.476 269,243 36,186 305,429 The Statement of Financial Activtb'es includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities. The notes on pages 26 to 30 fomi part of the financial statements 24
Aghalee Village Hall BALANCE SHEET as at 31 December 2023 2023 2022 Notes Fixed Assets Tangible assets 10 209,512 216,890 Current Assets Debtors Cash al bank and in hand 11 1.420 85.184 1.875 88.064 86,604 89,939 Creditors: Amounts lalllng due within one year 12 {1,640) 11,4001 Net Current Assets 84.964 86.539 Total Assets tess Current Liabilitigs 294.476 305.429 Funds Restricled funds Deslgnated fund5 (Unrestrictwjl General fvnd lunreslricledl 26,669 209.512 58.295 36,186 225,685 43,558 Total lunds 14 294A76 305.429 The financlal slalemenls have been prepared in accordan¢e th Ihe provisions applicable lo companies sub5ect to the small companies, re9ime and in accordance FRS 102 The Financial Reporting Standard applicable in the UK and Republic of lieland" apptying Sec 1A of thal Standard. Approved by the Board of Trustees and authorfsed for Issue on 215t Fèbruary 2024 and signed on Its behalf by Matt Hull Trustee Christo Trusts or 8ulleT nole5 on pages 26 lo 30 fNm M oflh• firtaal Slatements 25
Aghalee Village Hall NOTES TO THE FINANCIAL STATEMENTS for the financial year erKled 31 December 2023 GENERAL INFORMATION Aghalee Village Hall is a charity incorporated in Northem Ireland. The registered Offi of the company is which is also the principal place of business of the company The financial stslements have been presented in Pound {£) which is also the functional currency of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting poliaes have been appld consistently in dealing with ttems which are considered material in relation to the charity's financial statements. Basis of preparation The financial statements have been prepared on the going concem basis under the historical cost convention, m(xJified to include rtain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended practi ISORP} "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 Compan$ Act 20(, the company has varied the standard fomiats in that act for the Statement of Financial ActNilies and the Balan Sheet. Departures from the stsndard formals are to eomply with the requirements of the Charities SORP and are in compliance wth section 4.7, 10.6 and 15.2 of that SORP. Staternent of compliance The financial statements of the company for the financial year ended 31 December 2017 have been prepared on the going COnM basis and in accordan with Ihe Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities preparing their accounts in accordance wrth the Financi31 Reporting Standard applicable in the UK and Republic of Ireland FRS 102" apptying Section 1A of that Standard. Incoming Resources Voluntary income or capital is induded in the Statement of Financial Activities when the company is legally entided to it, its finanryal value can be quantified with reasonable rtaInty and there is reasonable rtaInty of ils ultimate receipt. Entidement to legacies is considered established when the company has been notified of a distribution to be made by the executors. Income reiVed in advance of due performance under a contract is accounted for as deferred income until earned. Grants for activities are recognised as income when the related condib.ons for legal enkn"tlement have been met. All other income is accounted for on an accruals basis. Resources Expended Expenditure is recognised on an accfual basis as a liability is incurred. Expenditure includes any VAT which Cannot be fully recovered. and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directty to suth activrties and those Costs of an indirect nature necessary to support them. Support costs are those costs incurred diredy in support of expenditure on the objects of the charity and include project management Tangible fixed assets and depreciation Tangible fixed assets are ststed at cost or at valuation. less accumulated depreciation. The charge to depreciation is calculated to wrtte off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows.. Land and buildings freehold Fixtures, fittings and equipment 2Qh Straight line 20% Reduung Balance Debtors Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. Income recognised by the the company from government agencies and other ¢fUnderS, but not yet received at year end, is induded in debtors. Cash at bank and in hand Cash at bank and in hand ccfftprises cash on deposit at banks requiring less than three months noti of withdrawal. 26
Aghalee Village Hall NOTES TO THE FINANCIAL STATEMENTS continued for the financial year erKled 31 December 2023 Taxation and deferred taxation No current or deferred taxabon arises as the company has bn granted charitable exemption. Irrecoverable valued added lax is expensed as incurred. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2023 2022 Voluntary Income 2,023 25.671 27,694 74,860 OTHER TRADING ACTIVITIES Unrestricted Restricted Funds Funds 2023 2022 Activities to Generate Funds 30,039 4,583 34,622 18,855 INVESTMENTS Unrestricted Restricted Fund5 Funds 2023 2022 Investments 338 338 28 OTHER INCOME Unrestricted Restricted Funds Funds 2023 2022 Solar Panel Income 1.173 1.173 850 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Other Costs Support Costs 2023 2022 Cost of Charitsble Activrties 74.780 74.780 81,072 SUPPORT COSTS Charitable Activilies 2023 2022 Legal & Professional Sundry Costs Direct Programme Costs Heat & Light Wages & Salaries Membership & Subscriptions Depreciation Repairs & Maintenan Bank Fees Printing, Postage & Stationery General Admin Costs 5.885 2.671 33.175 3.587 6.307 399 7.378 5.133 235 5,885 2,671 33,175 3,587 6,307 399 7,378 5,133 235 1,800 1,093 25,067 3,670 6,290 393 7,973 23,980 228 4,001 6,577 6.666 6,666 74,780 74,780 81,072 ANALYSIS OF SUPPORT COSTS 2023 2022 Legal & Professional Sundry Costs 5.885 2,671 1,800 1,093 27
Aghalee Village Hall NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 December 2023 Direct Programme Costs Heat & Light Wages & Salaries Membership & Subscriptions Depreciation Repairs & Maintenan Bank Fees Printing, Postage & Stationery General Admin Costs 33,175 3.587 6.307 399 7.378 5.133 235 3,344 6,666 25,067 3,670 6,290 393 7,973 23,980 228 4,001 6,577 74,780 81,072 INCOMING RESOURCES All incoming resour$ are included in the stslement of financial activib.es when the charrty is enb.lled to the income and the amount can quantrfied with reasonable accuracy. The following specific poliaes are applied lo particular categories of income.. -voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when re1Vable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the chartty becomes unconditionally entitled lo the grant. Donated servi$ and facilib.es are induded at the value to the charrty where this can be quantified. The value of services provided by volunteers has not been included. Gifts donated for resale are induded as incoming resou$ within activrties for generating funds when they are sold. Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activib.es in the year in which they are re1vable Income from investments is included in the year in which it is re1Vable. NET INCOMING RESOURCES 2023 2022 Net Incoming Resourtes are stated after chargingllcreditingl: Depreciation of tangible assets 7,378 7,973 INVESTMENT AND OTHER INCOME 2023 2022 Bank interest 338 28 EMPLOYEES AND REMUNERATION The staff costs comprise.. 2023 2022 Wages and salaries 6,307 6,290 28
Aghalee Village Hall NOTES TO THE FINANCIAL STATEMENTS continued for the financial year erKled 31 December 2023 10. TANGIBLE FIXED ASss Land and Fixtures. buildings fittings and freehold equipment Total Cost At 31 December 2023 250,000 65,335 315,335 Depreciation Al 1 January 2023 Charge for the financial year 45,000 5.000 53,445 2,378 98,445 7,378 At 31 Dember 2023 50,000 55,823 105,823 Net book value At 31 December 2023 200.000 9.512 209.512 At 31 Dember 2022 205,000 11,890 216,890 DEBTORS 2023 2022 Prepayments and accnJed income 1.420 1,875 12. CREDITORS Amounts falling due within one year 2023 2022 Accruals and deferred InMe 1.640 1,400 RESERVES 2023 2022 At the beginning of the year {DefictillSurplus for the financial year 305,429 110.953) 291,908 13,521 At the end of the year 294N76 305,429 14. FUNDS RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Funds Funds Totsl Funds At 1 January 2022 Movement during the financial year 276,126 16,8831 15,782 20,404 291,908 13,521 At 31 December 2022 Movement during the financial year 269,243 {1,4361 36.186 19,5171 305,429 110,9531 At 31 December 2023 267.807 26,669 294,476 29
Aghalee Village Hall NOTES TO THE FINANCIAL STATEMENTS continued for the financial year erKled 31 December 2023 14.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance l January 2023 Income Expenditure Transfers Balance between 31 December fund$ 2023 Restricted funds LCCC Xmas Awards 4 All LCCC Community Servi TruemarklAge Nl Rents Arts Programme The Older People's Fund LCCC Coronation LCCC Hardship Fund LCCC- Activty Programme 1,358 10,000 4,345 1,036 131 4,952 1,288 11201 15,0001 5,000 4,345 2,532 1,439 2,749 1,308 28,729 3,350 457 17961 24,891 4,146 786 1.445 18,7901 7 233 129 6,790 553 3,316 4,563 2,000 11,353 36,186 30,254 33,013 16,7581 26,669 Unrestricted funds Building Fund Designated.. Capital Unrestricted General 216.890 8,795 43,558 7,378 209,512 18.7951 15,553 33.573 34,389 58,295 269,243 33,573 {41,7671 6,758 267,807 Total funds 305.429 63.827 74.780 294A76 Grants reiVed this year include Awards 4 AII1£10,OCKJI, LCCC1£9,7241, Halrfax Foundation1£4,0001, Arts Council Nl1£5001. 15. POST-BALANCE SHEET EVENTS There have been no signfficant events affecting the Charity since the financial yearnd. 16. TRUSTEES REMUNERATION We can confirrn there have bn no transactions involving trustees outside the nomial course of business in the year ended 31 $1 December 2023. 17. INDEPENDENT EXAMINER'S FEE Daly Patk & Company Ltd were paid £1,320 for independent examination of the financial statements in the year ended 31 December 2023. 30