Aghalee Village Hall STATEMENT OF FINANCIAL ACTIVITIES for the financial year ended 31 December 2024 Unrestricted Restricted Funds Funds 2024 2024 Total Unrestricted Restricted Funds Funds Funds 2024 2023 2023 Total Funds 2023 Notes Incoming Resources Voluntary Income Activities for generab.ng funds Investments Other income 2,980 15.033 24,887 27,867 15.033 2,023 30,039 25,671 4.583 27,694 34,622 427 1,070 427 1.070 338 1,173 338 1,173 Totsl incoming resources 19.510 24.887 44.397 33,573 30,254 63,827 Resources Expended Charitable activities 60.622 23.944 84.566 41,767 33,013 74,780 Net incomingloutgoing resources before transfers 140.1691 18,1941 12,759} 110,9531 Gross transfers between funds 2.630 (2.6301 6,758 16,758} Net movement in funds forthe financial year 138.482 (1.6871 140.1691 11,4361 19,517} 110,9531 Reconeiliation of funds- Total funds beginning of the year 14 267.807 26.669 294.476 269,243 36,186 305,429 Total funds at the end of the year 229,325 24,982 254,307 267,807 26,669 294,476 The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing aclivities. The notes on pages 26 to 30 fomi part of the finanual statements
Aghalee Vlllage Hall BALANCE SHEET as al 31 December 2024 2024 2023 Note5 Ftxed Assèts TangiUe assets 10 202.610 209,512 Currant Assets Oebtofs ash * bank and In hana 11 737 53.715 1,420 85,184 86,604 Crndltors: Arnounts falllng du• within one year 12 117551 11.6401 Net Currerrt Ass•ts 51.697 T¢)tsl A850ts less Cunènt Llabllliles 254.307 294.476 Funds Restried lurnls tksignated funds IUnTe5tricledl General fund lunrestrictedl 24,982 202.610 26,71S 26,669 209,512 58,295 Total fund5 14 254,307 294,476 The financial stst?mpJts haw be•n pmparBd in a<xoidanc•with thè pro¥i4*)ns applicable to c¢mpanies sublt lolhe smatl companvas. regine and in accordance with FRS 102 Tr FinawKi?l ReportiThJ Standard 8ppkablp in the UK and Republc of Ireland. appfying Section 1A of that Standard. ApprovÈd by the Board ofTntstees and athorISed for issue on 19 Marc 2025 and signed on its behalf by Anne Mlskelly Trnst•8 Chiistophe Trust•• 8uller TM rthscffl PBg85 26 to30 Icrfm pwt+y the sts11 25
Aghalee Village Hall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 GENERAL INFORMATION Aghalee Village Hall is a charrty registered in Nothem Ireland. The financial statements have been presented in Pound 1£) which is also the functional currency of the chartty. 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, m(xJified to include rtain items at fair value. The financial statements have been prepared in accordance with the Slalemenl of Recommended Practice ISORPI "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicab in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. ststement 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 wrth the Statement of Recommended Practice ISORPI"Accounting and Reports"ng by Charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Stsndard. Incoming Resource5 Voluntary income or capital is included in the Statement of Finanryal Activib"es when the charrty is legally entitled lo it, ils financial value can be quanlifEd with reasonable certainty and there is reasonable rtainlY of its ultimate receipt Entitlement to legaaes is considered established when the charity has been nolrfied of a distribution to be made by the executors. Income received in advance of due perf0mlan under a contract is accounted for as deferred income until eamed. Grants for activities are recognised as income when the related conditions for legal entitlement have been met. All other income is accounted for on an accruals basis. Resources Expended Expenditure is recognised on an accrual 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 tharity in the delivery of its activities and ServIS for its beneficiaries. It includes both costs that can be allocated directty to such activities and those costs of an indirect nature necessary to support them. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management. Tangible fixed assets and depreciation Tangible fixed assets are slated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to WTite 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, fitb.ngs and equipment 2•/0 Straight line 20°k Reducing Balan Debtors Debtors are recognised at the setuement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from govemment agenaes and other ctrfunder5, but not yet reiVed at year end. is induded in debtors. Cash at bank and in hand Cash al bank and in hand comprises cash on dewsit at banks requiring less than three months noti of withdrawal. Taxation and deferred tsxation No current or deferred taxation arises as the charityy has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. 26
continued Aghalee Village Hall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2024 2023 Voluntary Income 2,980 24.887 27,867 27,694 OTHER TRADING ACTIVITIES Unrestricted Restricted Funds Funds 2024 2023 Activities to Generate Funds 15,033 15,033 34,622 INVESTMENTS Unrestricted Restricted Funds Funds 2024 2023 Investments 427 427 338 OTHER INCOME Unrestricted Restricted Funds Funds 2024 2023 Solar Panel Income 1.070 1.070 1,173 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Other Costs Support Costs 2024 2023 Cost of Charitable Activibes 84.566 84.566 74,780 SUPPORT COSTS Charitable Activities 2024 2023 Legal & Professional Sundry Costs Direct Programme Costs Heat & Light Wages & Salaries Membership & Subscriptions Depreciation Repairs & Maintenance Bank Fees Printing, Postage & Stationery General Admin Costs 6.515 1.753 20.863 2.939 5.721 657 6.902 27.150 249 4.881 6.936 6.515 1,753 20.863 2.939 5.721 657 6.902 27.150 249 4,881 6.936 5,885 2,671 33,175 3,587 6,307 399 7,378 5,133 235 3,344 6,666 84.566 84,566 74,780 ANALYSIS OF SUPPORT COSTS 2024 2023 Legal & Professional Sundry Costs Direct Programme Costs Heat & Light Wages & Salaries 6.515 1,753 20,863 2,939 5.721 5,885 2,671 33,175 3,587 6,307 27
continued Aghalee Village Hall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 Dember 2024 Membership & Subscriptions Depreciation Repairs & Maintenan Bank Fees Printing, Postage & Stationery General Admin Costs 657 6,902 27,150 249 4,881 6,936 399 7,378 5,133 235 6,666 84,566 74,780 INCOMING RESOURCES All incoming reSoUrS are included in the ststement of financial activities when the charity is entitled to the income and the amount can be quantifjed wtth reasonable accuracy. The following specific policies are applied lo particular categories of income.. -voluntary income is received by way of grants, donations and gifts and is induded in full in the statement of financial activities when re1Vable. Grants where entitment is not conditional on the delivery of a specific perfomiance by the charity, are recognised when the charrty becomes unconditionally enb.tled lo Ihe grant. Donated services and facilit'es are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold. Grants, including grants for the purchase of fixed assets. are reccMJnised in full in the slalemenl of financial activities in the year in which they are re1vable Income from inveslrnents is induded in the year in which it is re1Vable. NET INCOMING RESOURCES 2024 2023 Net Incoming Resources are $tsted after charyingll¢reditingl: Depreciation of tsngible assets 6,902 7,378 INVESTMENT AND OTHER INCOME 2024 2023 Bank interest 427 338 EMPLOYEES AND REMUNERATION The staff costs comprise.. 2024 2023 Wages and salaries 5,721 6,307 28
continued Aghalee Village Hall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 Dember 2024 10. TANGIBLE FIXED ASSETS Land and Fixtures, buildings fittings and freehold equipment Total Cost At 31 Dember 2024 250,000 65,335 315,335 Depreciation Al 1 January 2024 Charge for the financial year 50.000 5,000 55,823 1,902 105,823 6,902 At 31 December 2024 55.000 57,725 112,725 Net book value At 31 Dember 2024 195.000 7,610 202,610 At 31 Dember 2023 200,000 9,512 209,512 DEBTORS 2024 2023 Prepayments and accrued income 737 1,420 12. CREDITORS Amounts falling due within one year 2024 2023 Accruals and deferred income 2,755 1,640 13. RESERVES 2024 2023 At the beginning of the year Deficit for the finarbcial year 294.476 140,1691 305,429 110,9531 At the end of the year 254.307 294,476 14. FUNDS 14.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Funds Funds Total Fund5 At 1 January 2023 Movement during the financial year 269,243 11,4361 36,186 19,5171 305,429 110,9531 At 31 December 2023 Movement during the financial year 267,807 138,482) 26,669 11,6871 294,476 140,1691 At 31 December 2024 229.325 24,982 254,307 29
continued Aghalee Village Hall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 Dember 2024 14.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2024 Income Expenditure Transfers Balance between 31 December funds 2024 Restricted funds LCCC Xmas Awards 4 All LCCC Community Servi TruemarklAge Nl Rents LCCC Hardship Fund LCCC- Activty Programme Hedley Foundation Enkalon Foundation Lottery 1.000 726 5,000 274 5,000 4,345 2,532 1,439 2,000 11,353 4,730 14,7301 {801 4,345 1,724 979 728 591 2,081 12.905 1.623 131 81 11,0491 148 2,601 2.500 500 13,425 1,025 500 16,135 1290} 3,000 26,669 24,887 23,944 12,6301 24,982 Unrestricted funds Building Fund Unrestricted General 209.512 58.295 6,902 53,720 202,610 26,715 19,510 2,630 267,807 19,510 160,6221 2,630 229,325 Total funds 294.476 44.397 84.566 254.307 The charity's reserves policy is to hold 3 months of operab.ng costs in a separate bank account to be used for the continuation of the charity should it be required in the future. The aim is build up £20k for this fund lo cover 3 months running costs. 15. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charty since the financial yearend. 16. TRUSTEE REMUNERATION During the year, four trustees paid expenses on behaw of the charity using their credit cards, as the charity has no credit card function. These payments were for programme costs and were wholly and exdusivety forAghalee Village Hall's charitable purposes. The charity then reimbursed the trustees forthese payments tolalling £5,698. 17. INDEPENDENT EXAMINERS REMUNERATION The independent examiners, Daly Path & Company Ltd, received a fee for independent examination of £1,440 12023 - £1,440). 30