HOLYWOOD OIJ) SCHOOL PRESERVA TION TRUST (INCORPOIL4TED UNDER GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Company Regtstratlon No: IY1050228 Charlty Commlysfion of North¢rn Ireland No: NIC100638 HMRC Chirlty R¢gSslrAtion No: XR74326
HOLYWOOD OLD SCHOOL PRESERVATION TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 PAge Company Information Report of the Directors Independent Examlner's Report Statement of FfinAnelxl Aetfvltlos Balance Sheet Notes to the Accounls 10-16
HOLYWOOD OLD SCHOOL PRESERVATION TRUST COMPANY INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 OFFICERS AND PROFESSIONAL ADVISORS BOARD OF DIRECTORS Simon Bridge William Lockhart (appointed 26 March 2024) Philipp& Crone Desmond Browne William FitzpatricL GLegory McCunnLII Mal'c Ballard SECRETARY Simon Bi'idge REGISTERED OFFICE 92 Church Road Holywood Co. Down BT189BX INDEPENDENT EXAMINERS Baker Tilly Mooney Mooi'e Chartcred Certified AoUntantS & Rcgister¢d Auditoi's 17 Clarendon Road Clarcndon Dock Belfast BTI 3BG SOLICTORS Cleaver Fulton Rankin 50 Bedford Stitct Belfast BT2 7FW PRINCIPAL BANKERS Ulster Bank Connswater (C} Branth Arches Retail Park Belfast BT5 4AF CHARITY REFERENCE NUMBER NIC100638 COMPANY NUMBER N1050228
HOLYWOOD OLD SCHOOL PRESERVATION TRUST REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024 The Directors (who aye also the Trustees) of Holywood Old Sthool Presei'vation Trust ("The Trust") present theii" Annual Report together with the Financial Statements for the year ended 31 March 2024. The Financie¢l Statements have been prepared in accordance with the accounting poli¢ies set out in Note I to the financial statements and cotnply with the Companies Act 2006 and the Statement ol Reconimended Practice applicable Charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland (FRS102), Refer¢n¢e 4nd AdmlnlstrAtiv¢ Details The Trust Is a company limited by guarantee and is Tegistei'ed with the Charity Cornrnission for Noi'theii] Ireland. Chaj'ity number is NICIOO638 and the registeird oifice is 92 Church Road, Holywood, Co. Down. BT18 9BX. Prln¢lpal Aedvlty The objectives of theTrust are to preserve and pivtect for the public b¢nefit Holywood Old School, Church Road, Holywoo Co. Down. This is achieved by th¢ monies raised from renting the hall and end wilts to various community gi'oups and individuals on both a regular basis and on request. Structure, Governance and M&nAgement The Truyt iy u ru'¥i5tLrL ¢hurity Lomp¥ny Ilmited by guarantee, which is govemed by its memo1dum and Articles of Association. The Recruitsnent and Aptx)intment of DirectorslTruste¢s is provided foT withill the Memoi'andum and Articles of A880¢iation of th¢ company. No person or body is permitted tr) appoint Trustees. The Board meets appioxirnately 6 limes per ye&i' to malce decisions in keeping With the Memorandum and Artlcles of Association, The Conipany holds an Annual General Meeiin8 each year in addition to all other general meetings. Decisions are made by passin8 resolutions, The Board operates on a voluntary basis and is assisted by volunteers. The Board has dele88Èed overall management of the Trust to the Chairman and Treasurer who, in turn, have delegated day- to-day opei'ations to the part-tim¢ care¢akerIadminiytrar. The Dlree¢or$ The dii'ectors have overall responsibility for matters relating to the charity. The direGlors who served during the year were as follows,, Simon Brid8¢ Philipp& Crone Desmond Bi'owne William Fitzpatrick Gregory Mcconnell Marc Rallai'd Willi4m Lo¢kh&rt (appointed 26 March 2024) Gregory Brennan (resi8ncd 7 November 2023) The company is limited by guarantee and therefore no director had any interests in the share Capital.
HOLYWOOD OLD SCHOOL PRESERVATION TRUST REPORT OF THE DIRECTORS (tontiDued) FOR THE YEAR ENDED 31 MARCH 2024 Management of Risks The Directors are aware of their responsibilities regarding the identification and management of major i'isks to which the Trust is exposed. These TLsks are monitored on an ongoing bRsis and appropriate policieslprocedure5 have been implemented as r4uired. It has en determined that the current cosl of Ilving crisis might have some impact in relation to expected future income. This may not be significant but will be kept under review. Objectives And Activitles The Memorandum and Aiticles of As3oGiation set out the objectives and aims of the Trust. Key objectives for 2023n4 which w'e ochieved were as follows,. To continue to have suitable tenant8 for th¢ end units and Use for th¢ hall who have together provided enough income to sustain the opa'ation of the building. To continue to operate the building. on a sustainable l)85is, foi, the benefit of the communÈty of Holywood and in a way that con8erYes the building5 fabric and heritag¢. To rnaintain the bank reserve at the tar8et of £12,500 Key objectives for 2024125 are consistent with those of 2023124. Public Benefit In carrying out th¢ii' responsibllities the Directors hove p&id due regard to the Charity Commission of Northern Ireland guidonce on Public Benefit. Having reslored the Old School building, the Tiwst maintains the building and makes it avallable for a wide variety of community gctivitles. The benefi¢iaries are the residents of Holywood and visitOl'8 lo the town who can.. enjoy the contribution the building makes to the visual &ppearance of that pait of Church Road, which is within Holywood Conserv&tion Area. appreciate the exterior and interior of the building and the contribulion it makes to an und¢rstanding of the heritag¢ of the town. and avail of ihe facility the buildtng provides for a variety of cornmunity activities in Holywood. Flnaryclal Revlew Tlie result8 fr>r the financial period are fully set oul in the Statement of Flnancla5 Activities on poge 7 and Ihe financial P051tion of the Trust %s at 31 March 2024 is set out in the Balance Sheet on pages 8-9. The figures for the year ended 31 March 2024 show a deficit of £3.682 (2023.. deficit of £2,973). Tothl funds at 31 March 2024 were £43,130 (2023: £46,812). Regerves Pollcy At the year end the charity holds unrestricted reserves of £43.130 (2023: £46.8l2) of which £29,1)04 (2023: £29,553) is held at cash at bank and in hand. A policy on reserves has been established which is to achieve 8 level of r¢serves which match the needs of the charity both t the current time and in the foresee&ble future. For 2024125 this has been set at 4 months expenditure plus £2.$00 to cover a deposit held under the tenns of Éh¢ lease for the commercial unit. TILIS equate5 to tothl reserves of £1 1,400.
HOLYWOOD OLD SCHOOL PRESERVATION TRUST REPORT OF THE DIRECTORS (continyed) FOR THE YEAR ENDED 31 MARCH 2024 St&lement of DlreelDr5' Responslbllltles The dii'ectors are responsible for preparing the fmancial statements in aCLX)rdance with applicable law and regulations. Company law rquires the directors to prepai'e financial slatements tor each financial year which give a true and tair view of the state of affairs of the ¢haTitablecompany and ofthe incomin8 resources and application of resources, including the income and expenditure. ofthe charitable company for that period. In preparlng these financial statements. the directors are required select 8Uitable accounting policies and then apply them wnsistently. observ¢ the m¢thods 2nd pi'inciples iii the Charities SORP (FRS 102). make judgements at]d estimates that are reasonable and prudenL state wheth. appli¢&bl¢ UK Accounting Standards have been followed, subject to any material departures disclosed and explained tn the financial ststements- and pi'epare the fin&ncial statemen18 on the going con¢ern basis unle&8 it is inappropriate to presume that the ch'Itble company will continue in business, The dii'ectors are responsible for keeping proper a¢countin8 records that disclose with reasonable accuracy at any time the rinancial position of the charitable company and enable them to ensure that the finon¢iaL ststements Comply with the Companies Aci 2006. ThLy afL' al.%0 iespniisible foi. safeguarding the asyets of the ch8titsble company Rnd hence for taking reasonable steps lor the prevenlion and d¢t¢ction of fraud and other irrLgularitics. The above report has been prepared tn accordance with the speciel provision of P&rt IS of the Companies Act 2006 relatin8 lo small companies. ON BEHALF OF THE DIRECTORS.. Marc Ballard, Dlreetor Date
HOLYWOOD OLD SCHOOL PRESERVATIOTrI TRUST INDEPENDENT EXAMINERIS REPORT TO THE CHARITY TRUSTEES FOR THE YEAR ENDED 31 lIARCH 2024 We report on the accounts of Holywood Old School Preservation Trnsl for th¢ ye. ended 31 March 2024 which are Set out on pages 7 to 16. Respe¢tlve responslbilities of charity trustees and examiner As liie ¢harity ts'u.8te&8 (and also the Directors of the company for the pui'poses of ¢ornpany law) you are responsible foi. the prepai?tion of financial statements in accordance wtth the tems of the Companies Act 2006. Having satisfied ourselves that ihe charity is not subject to audit under company law, and is eligible for independent examination, it is our i'esponsibility to: examine the accounts under section 65 of the Charities Act Orthern Ireland) 2008 ('the Charities Act.). follow the procedures laid down in the genera] directions given by the Charity Cornmission foi. Northern Ireland under Section 65{9)(b) ofthe Ch&rities Act. and state whether ptiCU. matters have come to oui. attention. Basls of Independent examln¢r'$ report We have examined your Ghai'ity Financial Statements as required under section 65 of the Charities Act and oui. exainination was can'ied out in accordwi¢e with thc 8¢neral Directions Biven by the Charity Commission for Northern Irel&nd under section 65(9){b) of the Charities Act, The cxaminatinn included a revlew of the accouiitiiig records kept by the charity and & comparison of the acLounts presented witli tliose recor(ts. It also included ¢onsidei'ation of any unu¥u#l ilunb or disclosures in the accounts and seeking explanations from you as charity ti'ustees concerning any su¢h matters. An independent examination does not involve 8atherin8 all the evidence that would be requii'ed In an audit and consequently does not cover all matters that an auditor considers in giving their opinion on the COUnt8. The planning and coiidu¢t of an Audit goes beyond the limitLd asgurance thut an independent examination can pi'ovide. Cons¢quently* we express no opinion as to whether the accounts present a'true and fail, view" and our rerx>rl is limlted to those spe¢ifi¢ matters set out in the independent examiners sl8tement. Our role is to state wh¢th•' any materlal matters have eorne to our attention glving cau8e to b¢liev¢: Thal a¢countin¥ recui'dy were not kcpt in accordance with section 386 of the Cornpanies Act 2006 'I'hat the accounts do not 8ccord with those accountiTh8 recoi'ds 3. That the accounts do not Comply with the &ccounting I'equirements of section 396 ofthe Companies Act 2006 4nd with the methods and pi'inciples of the Statement of Recommended Pr&¢ti¢e,' Accounting and Repoiting by Charities applicable to charitie5 prep.in their accounts in accordance with the Financial Reportin8 Sthndard applicable in the UK and Republic of Ereland (FRS 102). 4. That there is furth¢r Anformation n¢eded for a proper understanding of the acwunts to be Irached. Independent exMIner 5 Statement We have completed our &xMmination and have no concerns in respect of the matters (l) to (4) listed above and, in connection with following the Direction5 of the ch'itY Commission for Northern Ireland, we have found no matters th8t require drawing to your attention. Baker Tilly Mooney Moore Chartered Certified Accountants & stattlry Auditors 17 ClaTendon Road, Clarendon Dock Belfast BTI 3BG Date..
HOLYWOOD OLD SCHOOL PRESERVATION TRUST STA TEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME Al EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 IRCH 2024 Vnrestrlcled Funds Re8tricted Funds Totsl Funds 2024 Total Funds 2023 Not .'Income from: Donations and Legacies Charitsble activities Investments 22078 29,655 189 52,222 22,378 29,655 189 52,222 22,378 28,086 36 Expendlture on: Charitable Activities Net Expenditure for the year (3,682) (3,682) (2,973) Transfei's betrveen fjjnds Fund balances at stsrl of year FuDd balAnees At elld of yeor 46 12 43,130 46,812 43,130 The above amounts relate to o)ntinuing operation8 of the company. There 18 no differcnce between the net expenditure foi, the year stated above and their historical cosi equivalenis. The Statement of Financial Activities also complies with the requirements foi. an income and expenditure account under the Companies Act 26.
HOLYWOOD OLD SCHOOL PRESERVA TION TRUST (REGISTERED NUMBER: N1050228) BALANCE SHEET AS AT 31 MARCH 2024 Total Unrestrlcted Funds 2024 Tolal Unr&4tiicted Fund8 2023 Notes Flxed Asset8 Tangible Assets 155 739 Current Asset8 Debtoi Cash at Bank and tn hand 3,469 2,088 Current Liabillties Creditors.. Arnounls falling due within one year oi oi Net eurrent Asset8 25 41 TotAI agsets lesg eurrent li8billtles 155 020 Noll-current Liabilities Creditor8.' Amounts fallin8 due after one yeai. Ill 890 111890 134 268 134 268 Total Net Assets Funds Balances Unrestricted io
HOLYWOOD OLD SCHOOL PRESERVATION TRUST (REGISTERED NUMBER.. N1050228) BALANCE SHEET (contillued) AS AT 31 MARCH 2024 The company is entitled to exemption fivm audit under Section 477 of the Companies Act 2006 for th¢ year ¢nd¢d 31 March 2024. The members have not tEquired Ihe company to obtsin an audit of &ts financial statements for the ye, ended 31 Mai'ch 2024 in accordance with Section 476 of the Companies Act. The directors acknowledge their responsibilities for.. a) ensuring thatthe company keeps accounting records which comply with S¢¢tions 386 and 387 of the CoMpY Act 2006 and b) prep.ing financial statements which give a ts'ue and fail. view of the state of affairs of the company as at the end of each tinancial year and of its profit or10&8 for each financial yeai. in accordance with the requiTeinents of Section 394 and 395 and which otherwise comply with the reqiiiremenls of the Companies Act 2006 relating to financial statements. so far as applicable to the company. These financial statemenls have been prepaird in accordance with the special provisions of Part 15 of the Companie5 Act 2006 relatin8 to sn1[ companies. The fmancial statementy were approved by the b0d of directors and authorised foi. issue 011 26 Septemb¢i' 2024 and are signed on its behalf by,. Mgre Ballard Director Gregory Mecollnell DiiY¢tor
HOLYWOOD OLD SCHOOL PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024 STATEMENT OF ACCOUNTINC POLICIES Charlty InformatlQD Holywood Old School Preservation Trust is a private company limited by guarantee incorporated in Northem Ireland. The registered offjce is 92 Churth Road, HolywoO Co down BT18 9BX. B4s18 of preparation The financial statements have been prcpw'ed in accni'dance with the CompAnies Act 2006. the Chai'itie8 Act (Norihei'n Ii'elalld) 2008 and -Accouiiting and Repojting by Charities: Statemcnt of RccommendLd Practice applicable to charities preparing their accounts Én accordance with the Financial Reportins Standard applicable in the UK and Republic of Ireland (FRS 102)" The charity is a Public Benefit Entity as defined by FRS 102. The accounts are prep.ed in sterling, whith is the functional currency of the charity. Monetary amount5 in these rinancial statements are rounded to the nearest £. The COUntS have been pi'¢pared on the historical st convention. The principal accounting polioies adopted 'e set out below. Golng eoneern At the time of approving the accounts, the Trustees have a re9sonable expectstion that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concein basis of cOuntin in preparin8 the financial statements. Chfiritfible funds UnrestriLted funds avoilable for use at the dIretIOn of the Trustees in furtheyance of their chai'itable objeotives unless the fvnds liave been designalcd for other purposes, Restricted funds 'e subject to specific conditions by donors as to how they may be used. The puwcs and uses of the restricted funds &i'e set out in the notes to the OU¢s. Incomlng re%tsurce8 Income represents rental income, grants and grants released, and bank interest. All income has been included in the Statement of Financial Aotivities and have be¢n ieco8nised when there is enlitlement to the income, certainty of receipt and it can be measui'ed reliably. Gi'ants rtteived in relation to the renovation of the old school are being i'elellsed to the Ststement of Financial Aotivities over the period of th¢ lease. Resources expended All expenditure is accounted foi. on an ¢rUa]S basis and has been classified undei. the he&dings that aggr¢gat¢ 811 costs related to Ihe catcgory. Expenditure is recognised when there is a legal or constructive obligation to make payments to third parties, it is ptDbabl¢ that the settlement will be requii'ed &nd the amount of the obligation can be measured reliably. Expendituye on the charitable activities includes costs undertaken to furth. the purposes of the Gharity. Suppoi't costs are those functions that assist the work ot'the charity but do not directly undertake charitable activities. Suppott cost5 include payroll and governance costs which support the Gharities activitie5. These costs have been allocated to expenditure on charitable actLVLties, The basis on which support cost8 have b¢¢n allocated are set out in the notes to the accounts. io
HOLYWOOD OLD SCHOOL PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CODtlnucd) AS AT 31 MARCH 2024 STA TEMET4T OF ACCOIJNTING POLICIES (contlnued) Tanglble fixed assets T8n8ible fixed assets are initially measured at cost and subsequently rneasUd at cost, llet of depr¢ciation and any impaimient losses. Depreciation is recognised so as to write off the w8t of &8s¢ts less Éheir residual values over their useful lives on the following bases: Building & Renovation- Fixtures & Fittin8S- Over 21 Years 20Yo Straight Line The gain or lo arising on the disposal of an ¢1 is det¢rniined asthe difference kn¥¢en the sale proceed8 and the Carrying valu¢ of th¢ assel and is r¢co8nised in net incomel (expenditure) for the year. The Trust was established to renovate and maintain the Old School building in Church Road, Holywood. The building has been leased to the Trust by the R¢present&tive Church Body of the Church of Ireland foi. a peiind of 21 years. All costs of renovating the property have been capitaltzed in the accounts and will be ry'itten off over a period of ihe lease, Lomm¢n¥ing fiDrn IhL datc i)f cnmpletion of th¢ reni)vation which was April 2008, Impalrm¢nt of fixed assets At each reForling end date, the Charity reviews th¢ cai'rying amounts of its tangible assets to detei'mine whether there is any indication that those assets have sutyered an impaimient loss. If any such indication exists, th¢ r¢wverable amount of the asset is estimated in ordei. to determine th¢ extent of the impaii'nient loss (if any). Th6 L'umpuny only has finallci&l $¢t$ and liabilities of a kind that qualify as basic financial assets. Basic financial instruments 'e initially recognised at transaction value and subsequently measured at theii. settlement value. Clsh And ¢a$h equlvalents Casli and s equivalents comprise cash at bank wid cash in hand. D¢btor8 Trade dnd other debtors are I'ecognised at the settlement amount due after any trade diAcount offered. Prepayments are valued at the amount Plepaid net of &ny ts'&de discounts due, i.io Credltors Crcditoi's and pn)visions are recognised where the charity has a present obligation resulting fiY)m a past event that will piDbably result in the transf¢J' of fiJnd5 to a third party and the omount du¢ to settl¢ the obligmtion can be measured i'eliably.
HOLYWOOD OLD SCHOOL PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) AS AT 31 MARCH 2024 STATEMENT OF ACCOUNTING POLICIES {conl¥llued) i.ii TaxatloD The charity is a registered charity and as such, Lts income and g&ins falling within Sections 371 to 489 of the Corporation Tax Act 2010 or section 256 of the laxalion of Chargeable Gains ACT 1992 al'e exempt trom corporation tax to the extent that they are applied to charitable objectives. 1.12 Crltical accoulltlng estimates Judgments In th¢ appliiution of thc Charity's accounting policie& the Trustees 'c i'equired to make judgment5. estimates md assumptions alx>ut the c8rrying amount of assets and liabilities that are not readily apparent frorn other sources. The estimates ]d associated assumptions are based on historical expei'ience and other factors that are considered lo be relevant. Actual result5 rnay differ from these estimates. The estimates and underlying assumplions are irviewed on an ongoing basis. Revisions to a¢coun¢ing estimates are recogni5ed in the period in which the estimate is revised where th¢ ievision affects only that period. or in the period of the r¢vision and futurc periods where the revi5i0n affects both curi'ent and futui'e periods. The trustees do not consider any of these judgmcnts or estimates to have significant eff¢ct on th¢ financi&l Statements. INCOMING RESOURCES UDre8tricted Fuiid$ Restrieted 'VDds Total Fundg 2024 Total Funds 2023 DoDatlODS and Legacles 'ant Incom¢ 22 78 Chftrltable Activities Rent Hall Hire Scouts License Fee 14,090 13,165 14,090 13,165 13.800 12,086 Invt&tmenls Bank Intere3t received 189 189 189 189 36 36 Total Income 12
HOLYWOOD OLD SCHOOL PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (contiDued) AS AT 31 IRCH 2024 RESOURCES EXPENDED Unrestrleted Funds Restricted Funds Total Funds 2024 Totsl Funds 2023 Charltabie Actlvitles Salaries & NIC Rateg Insurance Heal Light & Power Telephone Depreciation of Building Depreciation of Fixtures & Fittings Bad Debt Other Expenses Repairs and Renewals 9,189 3,422 4,11110 5.164 1,659 26,183 9,189 3,422 4,880 5,164 1,659 26,183 9,026 2,482 4.444 4,171 1.281 26,183 667 240 1,206 1354 667 240 1,206 1,254 669 671 2,446 Includlng thefollowlng support eosls Accounts & Independent Examination Professional Fees Re Payroll 1,668 372 1,668 372 1,728 372 Tntsl eosts allocnted to charltAble aetivitie5 Total Expendltur¢ Included in support costs are governance costs totaling £1,668 (2023: £1,728). NET (OUTGOING) RESOURCES Net (Outgoing) ReBour¢u Is $tsl¢d.. 2024 2023 After chArgfrn£: Relse of grant Depreciation on fixed assets 22,378 26150 22,378 26,852 13
HOLYWOOD OLD SCHOOL PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (contlnued) AS AT 31 MARCH 2024 INFORMATION ON DIRECTORS AFID EMPLOYEES 2024 2023 Employment Costs Wa8es and Salaries 9,189 9.439 The avei&gg monthly number of peionS employed in the year was: 2024 2023 Employees The ¢h8rity considers the board of Trnstees as Iheir key management personnel. The total remuneration of key management Peonn¢t in the year is £Nil (2023: £Nil). No employee received total employee benefits of more than £60,000 in the yeai.. No Trustee i'eceived any iemuneration, benefit5 in kind or reirnbursement of trnvel expenses In the year (2023: TANGIBLE FtXED ASSETS Building & R¢novgtlon Work Fixtures & Fi(tings Total Cost At l April 2023 Additions Diswsa15 At 31 MAreh 2024 549,842 14,040 563,882 549 842 DepreciY4tlOD At l April 2023 Charge for Year Charge on disposals At 31 March 2024 395,129 26,183 13,014 667 408,143 26,850 421312 434 993 Net Book Value AL 31 Murih 2024 At 31 Mar¢h 2023 128 430 154,713 359 155 739 14
HOLYWOOD OLD SCHOOL PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) AS AT 3J MARCH 2024 DEBTORS 2024 2023 Trade Debtors Prepayrn¢nts 2,418 1,068 CREDITORS: AmouDt$ falllng due wlthin one year 2024 2023 AGcruals CREDITORS: Amountj falling due after on¢ y¢or 2024 2023 Grants received 134 268 No thrthergrants were reo¢ival this year. As the renovA¢ion work 18 now compl¢le, the grants which have previously been received are bein8 released to the Statement of Flnancial Activities ovei, the period of the lease which is 21 Years. io. ANALYSIS OF MOVEMENTS IN FUNDS Unrestricted Fund5 Restricted Funds Total FundB Balance of funds brought forward as at l April 2023 Movement foi. the year Transfers between funds Bo18n¢e of thnds ¢arrled forward as At 31 Marcb 2024 46,812 (3,682) 46,812 {3,682) 43,130 43,130 ii. CONTINGETrIT LIABILITIES A contingent liability may exist in respect of a paYment of 81.ant income to HM Revenue and Customs should the condilions und. which a granl wgs &warded to the company not be met. Due to the nature of these contingencies, it is.not CUentlY possible to estimate the likelihood of this occui'i'ing, nor qugJ]lily the financial effect or provide an indicution of timing &s to the potential liability that may arise. A contingent liability may exisi in respect of grant income to the Department for Communities should the conditior15 under which they were awarded fail to be met, Due to the n&tLU'e of th¢s¢ cotttingencies, it ts not possible to quantify the potential finat)cial effect or give an indication of timing as to tbe liabilitie5 may arise. 15
HOLYWOOD OLD SCHOOL PRESERVATION TRUST N(yfES TO THE FINANCIAL STATEMENTS (eontlDued) AS AT 31 MARCH 2024 12. TRANSAcfioNS WITH RELA TED PARTIES There were no tW)stionS during the year in which any director or related paty had an interest requiring disclosur¢ (2023- £nil). 13. FUNDS AIYALYSIS At Aprll 2023 IJAcome Expenditur¢ Transfers AÉ 31 March 2024 Unrestrlcted fuD(ts General fund Total funds AnAlysls of net Assets between the fund$ Unrestrlcted Funds Restrlcted Fund$ TotAI Funds Tangibl¢ fjxed assets Current assets Creditors falling due in less than one year Creditors la]lillg due after one year 16,999 32,473 (6,342) 111,890 128,889 32,473 (6,342) 111890 111890 Prlor year Unrestricted Funds Restricted Funds Total Funds Tangible fixed &8sets Current assets Creditors falling due in less than one year Creditors falling due after one year 21,471 31,642 (6,301) 134,268 155,739 31,642 (6,301) 134 268 134,268 16