NIPSA GLOBAL SOLIDARITY AND DEVELOPING WORLD FUND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Unrestricted funds 2023 Notes Income from: Donations and legacies 17.071 18,822 Tolal income 17.071 18.822 Expenditure on: Charitsble activities 21,355 11,500 Tolal expenditure 21,355 11,500 Net in¢omel{expenditure) and movement in funds (4,2841 7,322 Reconciliation of funds: Fund balances at 1 January 2024 23.243 15.921 Fund balances at 31 December 2024 18,959 23,243 The statement of financial activities includes all gains and losses recognised in the year. All incnme and expenditure derive from continuing aclivities. NIPSA GLOBAL SOLIDARITY AND DEVELOPING WORLD FUND BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Current assets Debtors Cash al bank and in hand 18,958 23,242 18,959 23,243 Net current assets 18,959 23,243 Income funds Unrestricted funds 18,959 23,243 18.959 23,243 The financial statements were approved by the Management Committee on 25 July 2025 and are signed on their behalf by.. R O'sandair Chairperson J Scott (Honorary Treasurer) Wice£hairperson NIPSA GLOBAL SOLIDARITY AND DEVELOPING WORLD FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policie5 Charity information NIPSA Global Solidarity and Developing World Fund is a unincorporated charity registered with the Charity Commission in Northem Ireland. The principal address is 54 Wellington Place, Belfast, BT9 6DP. 1.1 A¢¢ountlng convention The financial statements have been prepared in accordance with the charity's constitution, the Charities Act (Northem Ireland) 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" {"FRS 102") and the Charities SORP "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). (effective 1 January 2019}. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial stslements are prepared in sterling, which is the functional currency of the charity- Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the lime of approving the financial statements. the management commiltee have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the management committee continue to adopt the going concem basis of accounting in preparing the financial slatements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the management committee in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted ftjnds are sel out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitle(I to it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income will be re￿ived. Cash donations are recognised on ￿￿1pt. Other donations are recognised On￿ the charity has been nottfied of the donation, unless performan￿ conditions require deferral of the amount. Income tsx recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 1.5 Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It indudes both costs that can be allocated directly to such aclivities and those costs of an indirect nature to support them. 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown wtihin borrowings in current liabiltties. 10- NIPSA GLOBAL SOLIDARITY AND DEVELOPING WORLD FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued 1.7 Financial instruments The charily has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balan￿ sheet when the charity becomes paty to the contradual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable righl to set off the recogni5ed amounts and there is an intention to settle on a nel basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitules a financing transaction, where the transaction is measured at the present value of the future re￿IP1S discounted at a market rate of interest. Financial assets classified as receivable within one year are not amorbsed. Basic financial liabilities Basic financial liabililies, including creditors and bank loans are initially recognised at transaction price unless the arrangement consbtules a financing transaction, where the debt instrument is measured at the present value of the future paymenls discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade credilors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 11 NIPSA GLOBAL SOLIDARITY AND DEVELOPING WORLD FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Donations and legacies Unrestricted Unrestricted funds funds 2024 2023 Donations and gifts 17,071 18,822 Donations and gifts GAYE NICVA (gift aid) NIPSA General Council Charitable Trust Sundry donation Conference raffle 9,359 10,173 185 7,500 62 320 582 7,500 57 155 17,071 18,822 Expendlture on charltable actlvitles Charltable activities 2024 Charltable activities 2023 Direct costs Centre for Global Education Tools for Solidarity 11.500 9,855 11.500 21,355 11,500 Analysis by fund Unrestricted funds 21.355 11.500 D•scrlptlon of charltable acllvilles Charitable activities The provision of grants to organisalions for projects which will prevent or relieve povety, sickness, disease or human suffering and to promote human righls throughoul the world. Management Committee None of the management committee (or any persons connected with them) re￿iVed any remuneration or benefils from the charity during the year. Taxation The charity is exempt from taxalion on its activities because all its income is applied for charttable purposes. 12- NIPSA GLOBAL SOLIDARITY AND DEVELOPING WORLD FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds The unrestricted fvnds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted fvnds by the trustees for specific purposes. At 1 January 2024 Incoming resources Resources expended A131 December 2024 General funds 23,243 17,071 (21,355) 18,959 Previous year: At 1 January 2023 Incoming resources Resources expended A131 December 2023 General funds 15.921 18.822 111,500) 23.243 13-