BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2023 Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Notes Income and endowments from: Charitable activities Other income 8,567 278 2,306 10,873 278 14,470 32 720 15,190 32 Total Income 8,845 2,306 11,151 14,502 720 15,222 Charrtable activities 13,fAO 8,900 22.540 16.822 16,822 Net expenditure and movement in funds 14,795) (6,594) (11,389) (2,320) 720 {1,600) Reconciliation of funds.. Fund balances a11 November 2022 325,878 6,723 332.601 328,198 6,003 334,201 Fund balances at 31 October 2023 321,083 129 321,212 325,878 6,723 332,601 The statement of financial activities includes all gains and losses recognised in the year. All Income and expendilure derive from continuing actNities.
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY BALANCE SHEET AS AT31 OCTOBER 2023 2023 2022 Notes Fixed assets Tangible assets 300.000 300,000 Current assets Debtors Cash at bank and in hand 10 7,087 16,644 4,881 28,626 23.731 33,507 Creditors: amounts falling due withln one year 11 2,519 906 Net current asse15 21,212 32,601 Total assets less current liabilities 321,212 332,601 The funds of the tharity Reslricled income funds Unrestricted funds 12 129 321,083 6,723 325,878 321,212 332,601 The financial statements were approved by the truslees on 4 June 2024 Trustee
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 Accounting policies Charity inforniation Belfast Natural History & Philosophical Society is a ¢harity registered with the Charity Commission for Northern Ireland {CCNI).. 1.1 Accounting convention These accounts have been prepared in accordan¢e with FRS 102 °The Financial Reporting Standard applicable in the UK and Republic of Ireland. I"FRS 102) and 'Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applir2ble to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102).. The charity is a Public Benefft Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charitres not to prepare a Statement of Cash Flows. The financial statemènts are prepared in sterfing. which is the functional ojrrency of the charity. Monetary amounts in these financial stslements are rounded to the nea$t £. The financial statements have been prepared under the historical cost convention. The principal accounting policles adopted are sel out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational exislence for the foreseeable fvture. Thus the trustees continue to adopt the going concern basis of accounting in preparing the finanal statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in fijrtherance of their charitable objectives. Reslricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legalty entilled lo it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligalion to transfer economic benefit to a third paty, it is probable that a transfer of economic beneffts will be required in settlement, and the amount of the obligation can be measured reliabty.
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Accounting policies Icontinued) 1.6 Tangible fixed assets Tangible fixed assets are inilially measured at cost and subsequentty measured at Gost or valuation, nel of depreciation and any impairment losses. Tangible fixed assets include a propety which is considered a herilage asset. It is the Charity's policy lo maintain the property in a slale of good repair, therefofe no depreciation is necessary. The Trustees consider that the value slated in the accounts reflects the fair value of the building as at 3151 October 2023 Depreciation 15 re¢ognised so as to vlIe off the cost or valualion of a55ets le55 Iheir residual values over their useful lives on the following bases.. Freehold land and buildings Computer equipment Alarm system OD 250fi straight line 250k straight line The gain of loss arising on the disposal of an asset is determined as the dtfferen* beeen Ihe sale proceeds and the carrying value of the asset, and is recogni5ed in the statement of financial activities. 1.7 Impairn)ent ol fixed assets At each reporting end dale, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of Ihe asset is estimated in order lo determine the extent of the impairment loss Irf any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposils held at call with banks, other short-term liquid investments wilh original rnaturilies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial Instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments155ues' of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party io the contractual provisions of the instrument. Financial assets and liabilities are offset, wrth the net amounts presented in the financial slatements, when Ihere is a legally enforceable right to set off the recognised amounts and the is an intention to settle on a net basis or to realisÈ the assel and settle the liability simullaneously. Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are initially measured al transaction price including tiansaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured al the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Accounting policies {Continued} Basic ffnancial liabilities Basic financial liabilities, inctuding creditors and bank loans are initially recognised at transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument 15 measured at the presenl value of the future payments discounted at a market rate of interest Finan¢ial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequently carried at amorttsed cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or servi$ that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities rf 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 subsequentty measured at amortised cost using the effedive interesl mèthod. Derecognition of financial liabilities Financial liabilities are derecognised when the charitys c¥Jntractual obligations expire or are discharged or cancelled. CritlGal accounting estimatès and judgements In the application of the Charty's attounting policies, the trustees are required to make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other Sour$. The estimates and associaled assumptions are based on historical experience and other fadors thal are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the eslimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and fLrture periods.
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Charitable activities Unrestrlcted In¢ome 2023 Resirfctgd Income Total Unrestrlcted 2023 Income Rfrstrlcted In¢ome 2022 Total 2022 2023 2022 Grave restoralions Bicentenary dinner Members, subscription and donation5 Rent Map sales Book Sales 2,306 2.306 720 720 4,540 4.540 3.080 4,288 172 1,027 3,080 4,288 172 1,027 2.680 7,200 50 2.680 7,200 50 8,567 2,306 10,873 14.470 720 15,190 Analysis by fund Unrestricled funds Restricted funds 8,567 8,567 2,306 14.470 14,470 720 2,306 720 8,567 2,306 10.873 14.470 720 15.190 Note - See page 12 note 12 reslricted funds. This shows reslricled funds accumulated in previous years tolalling £6,723. The breakdown of this is £3.200 for book publicabon and £3,523 for grave restoration. Together with £2,306 received this year for grave restoralion. this provided enough funds to cover the expenditure required. Other income Unrestricted Unrestricted funds funds 2023 2022 Bank interest received 278 32 10-
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Expenditure on charitable activities Unrestricted Restricted Funds Funds 2023 2023 Total Total 2023 2022 Direct costs Repairs and maintenance Insuran Rates and water Printing and stationery Lecture fees and expenses Independent examination fee Ground rent Membership fees General expenses Event expenses Grave restoration expenses Book expenses 8,085 3,951 320 76 50 780 8,085 3.951 320 76 50 780 6,459 3,437 473 401 350 780 24 354 354 (122) 5,018 5,700 3,200 5,700 3,200 13,640 8,900 22,540 16,822 Analysis by fund Unrestricted funds Restricted funds 13,640 13,640 8,900 16,822 8,900 13,640 8.900 22,540 16,822 Note - See page 12 note 12 restricted funds. This shows restricted funds accumulated in previous y8ars lotalling £6,723. The brèakdown of this is £3.200 for book publication and £3.523 for grave restoration. Together with the £2,306 received Ihis year for grave restoralion, this provided enough fvnds to Cover the expenditure quIred. Trustses None of the trustees (or any persons connected with them) reiVed any remuneration or benefrts from the charity during the year. Employees There were no employees. Taxation The charity is exempt from taxation on its actmbes because all its income is applied for charitable purposes. 11
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Tangible fixèd assets Froehold land and buildlngs Computer Alami systgm equlprn&nt Totsl Cost At 1 November 2022 300,000 2.350 1,832 304,182 2,350 1.832 304,182 At 31 October 2023 300.000 Depreciation and impaimient At 1 November 2022 4,182 2,350 1,832 1,832 4,182 Al 31 October 2023 2.350 Carrying amount At 31 Oclober 2023 300.000 300,000 300,000 At 31 October 2022 300,000 10 Debtors 2023 2022 Amounts falllng due within one year: 3,143 3,944 1,217 3,664 Trade debtors Olher debtor5 7.087 4.881 11 Creditors: amounts falllng due wlthin one year 2023 2022 Trade creditors Accruals and deferred income 1,739 780 126 780 2,S19 906 12 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At1 November 2022 Incoming resources Resources At 31 October expended 2023 6.723 2.306 18,900) 129 12-
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 12 Restricted funds (Continued) Previous year: At1 November 2021 Incoming resources Resources At 31 October expended 2022 6.003 720 6,723 13 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balanS of donations and grants which are nol subject to specific condltions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At1 November 2022 Intoming resources Resources At 31 October expended 2023 General funds 325,878 (13,640 321,083 Prevlous year.. At1 November 2021 Incoming sources Resources At 31 October expended 2022 General funds 328,198 14,502 (16,822) 325,878 14 Analysis of net assets betsveen funds Unrestricted funds 2023 Restricted funds 2023 Total 2023 Fund balances at 31 October 2023 are represented by: Tangible assets Current asselsl{liabilities) 300,000 21,083 300,000 21,212 129 321.083 129 321,212 Unrestricted funds 2022 Restrictsd funds 2022 Total 2022 Fund balances at 31 October 2022 are represented by: Tangible assets Current assetsl{liabilities) 300,000 25,878 300,000 32,601 6.723 325.878 6,723 332,601 13-
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 15 Related paty transactions There were no disclosable related party transactions during the year12022 - none). 14-