ASSOCIATION OF FRIENDS OF FERMANAGH COUNTY MUSEI UM RE4 CE4 IPTS & PAYMENTS ACCOUNT - STATEMENT OF FINANCIAL ACTIVITY FOR THE YEAR ENDED 31 DECEMBER 2024 Restricted Unrestricted Funds Funds 2024 2024 Total 2024 Total 2023 Income Donations Membership Subscriptions Bank Interest received Femianagh & Omagh District Council - Refund 350 1,278 179 350 1,278 179 350 1,407 144 Expenditure BAFM Membership Bank Fees Accountancy 100 33 384 100 33 384 393 37 54 517 517 484 Net Income (Expenditure) for the year 1,290 1,290 3,417 Total Funds brought fonvard Total Funds Carried fonvard
ASSOCIATION OF FRIEI NDS OF FERMANAGH COUNTY MUSEUM STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 At Incoming l Jan 2024 Resources Outgoing At At Resources 31 Dec 2024 31 Dec 2023 Funds Reconciliation Restricted Funds Unrestricted Funds - General Funds 517 Total Funds 21 Bank and Cash Balances Bank Deposit Accounts Bank Current Account Cash in Hand 12,544 8,757 12,096 7,914 Other Assets (Unrestricted Funds) Monies owed to Fermanagh County Museum Th¢ financial statements were approved by the Board of Trustees on 27 October 2025 and were signed on its behalf by: Mr Samuel Robinson - Trustee
ASSOCIATION OF FRIENDS OF FERMANAGH COUNTY MUSEUM NOTES TO THE FINANCIAL STATEMII NTS FOR THE YEAR ENDED 31 DECEMBER 2024 I. ACCOUNTING POLICIES Income & Expenditure recognition policy Income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basis. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services to its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Taxation The charity is exempt from corporation tax on its charitable activities. Fund Accounting Unrestricted funds can be used in accordance with the charitable obj ectives at the discretion of the trustees. Restricted funds can only be used for particular restricted puryoses within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted puryoses. Further explanation of the nature and purpose of each fund is included in the notes to the financial statcmcnts. 2. TRANSACTIONS WITH THE TRUSTEES There were no transactions with the Trustees during the year.