BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2024 Unrestricted Restrr¢ted funds funds 2024 2024 Totsl Unrestricted Restricted ftinds funds 2023 2023 Total 2024 Notes 2023 Income and endowments from: Charitable actiwties Other incomè 7.857 262 8.567 278 2,3( 262 10,873 278 Totsl income 8,119 8.119 2,3C6 11,151 Expendire on: Charitable actiwties 12.342 12A42 13,640 22,540 Totsl èxpenditure 11342 12,342 13,640 22,540 Net expenditure and movement in funds 14223 14.223) (4,795) (6.594) (11,389> Reconciliation of funds: Fund balan$ * 1 November 2023 321.083 129 321.212 325,878 6,723 332.601 Fund balances at 31 October 2024 316,860 129 316.989 321.083 129 321.212 The ststement of financial activittes indudes al gains and losses recognised in the year. All income and expenditure derive from continuing activtbes.
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY BALANCE SHEET AS AT 31 OCTOBER 2024 2024 2023 Notes Fixed assots Tangible assets 300.000 3O),000 Current assets Debtors Cash al bank and In hand 10 4,184 13,720 7,087 16,644 17,904 23,731 Creditors: amounts falling due within one year 11 19151 12,519) Net ¢urrent assets 16.989 21.212 Total assets less current liabililies 316,989 321,212 Net assets 316.989 321.212 The funds of the charlty Restricted income fvnds Unrestricted funds 12 129 316,860 129 321,083 316.989 321,212 The financial statements were approved by the trustees on . B Walker Trustee
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting policies Charity infommtion Belfast Natural History & Philosophical Souety is a djarity registered with the Charity Commission for Northem Ireland {CCNI). 1.1 Accounting convention These accounls have been prepad in accordance with FRS 102 °The Financtal Reporting Skndard applicable in the UK and Republ of Ireland" fFRS 102) and "AccL)unbng and Reporting by Charitses.. Statement of Recommended Practice applicable to chanlies preparing their accxsunts in accordance with the Financial Reporting Standard appIable in the UK and Republic of IreSand (FRS 102).. The charity is a Public Benefft Entrty as deffined by FRS 102. The charity has taken advantage of the provisions in the SORP for tharities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, whth is the fvnctional currency of the ctharty. Monetsry amounts in these financial statements are rounded to the nearest £. The financial statements have been ppared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concem At the time of appioving the financial statements. the trustees have a reasonable expectation that the charity has adequate resources to Cxfyntinue in operational exFslence for the foreseeaL4e future. Thus the trustees conts'nue to adopt the going c£tncern basis of aUntIng in preparing the financial ststements. 1.3 Charitable ftinds Unreslncled fund5 are available for use at the discrelion of the trustees in furtheran of their c*aritable objectives. Restricted funds are subject to specnlc conditions by donors or grantors as to how they may be used. The Pu0$e$ and uses of the reslricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legal entitted to rt after any perfomian¢e condibons have been met, the amounts can be measured reliabty, and r( is probable that income will be received. Cash donations are tgnISed on receipt. Other donations are recognised On the charity has been notified of the donation. unless perfom)ance conditions require deferral of the amount. Income tsx recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the kn.me of the donation. 1.5 Expendire Expenditure is recognised On there is a legal or constwctive obfigation to transfer economic benefft to a third paty. rf( is probable that a transfer of economic benefits WFII be required in seltlernent, and the amount of the obligation can be measured reliabty.
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng policie8 {Contlnued> 1.6 Tangible fixèd assets Tangible fixed assets are initialty measured at cost and subsequentty measured at cost or valuation, net of depreciation and any impaimient losses. Tangible fixed assets indude a propety which is considered a herttage asset. It is the ChariV5 policy lo maintsin the propety in a slate of good repair, therefore no depreaatson is necessary. The Trustees consider that the value staled in the accounts refiects the fair value of the building as at 31 st October 2023 Depreciation is re¢ognised 50 as to write off the c05t or valuab.on of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Computer equipment Alarm system 0% 25% straight line 25% straight line The gain or loss arising on the disposal of an asset is determined as the drfference beeen Ihe sale proceeds and the carrying value of the asset, and is recognised in the stalemenl of financial activrbes. 1.7 Impaiment of fixed assets At each reporting end dale, the chartiy rewews the carrying amounts of ils tangible a5sels to detefmine whelher there is any indication that those assets have suffered an impaiment loss. If any such IndatIOn exists, the recoverable amount of the asset is estimaled in order to determine the extent of the impairment loss Irf any). 1.8 Cash and cash equivalents Cash and cash equtvalenls include sh in hand. deposits hehj at oll with banks, other short-term liquid investments with original matuiits'es 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 to apply Ihe prowsions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instrurnents Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the chanty's balan sheet when the chanty becomes party to the contractual provisions of the instrument. Financial assets and liabilrties are offset, wrth the nel amounls presented in the financial statements, when there is a legalty enforceable right to set off Ihe recognised amounls and there is an intention to settle on a net basis or to realise Ihe asset and settle the liability Simune0v$ty. Baslc flnanclal assets Basic finanaal assets, which include deblors and cash and bank balances, are inilially measured at transaction price including transaction costs and are subsequenty carried at amortised cost using the effective interest method unless the arrangement constitules a financing transaction, where the Iransaction is measured al the Pfesenl value of the fvture receipls discounted at a market rale of interest. Finanryal asset5 classified as receivable wrthin one year are not amortised.
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting polieies IContinued} Basic financial liabilities Basic financial liabilities, induding credrtors and bank loans are initially reo)gnised al transaction price untess the arrangement constttutes a financing transaction, where the debt instrument B measured at the present value of the future payment5 discounted at a market rate of inleresL Finan(ial liabiliti.es classified as payable within one year are not amortised. Debt instnjments are subsequenty carried at amortised cost, using the effective inlerest rate method. Trade creditors are oblrgations lo pay for goods or ServIS that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classffied as current liabilities rf payment is due within one year or less. If not, they are presented as non-current liabilrbes. Trade ueditors are recognised initialty at transaction price and subsequentty measured at amortised (*st using the effective ir)terest method. Derecognition of financial liabilities Financial liabilities are dereo)gnised when the charriys contractual obligations expire or are discharged or (3ncelled. Critical a¢counling estimatss and judgements In the application of the charit$ accounting policies, the trustees are required lo make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are readity apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors Ihal are considered to be releant. Actual results may differ from these estimates. The estimates and undertying assumptions are feviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the pertod in which the estimate is revised where the remsion affects only that period, or in the period of the revision and future periods where the revisictn affecls both current and future periods. Charitable activities Unrestricted Unrestritted Restricted Income Income Income 2024 2023 2023 Total 2023 Grave restorations Members, subscription and donations Rent Map sales Book Sales 2.3C6 2,306 3.080 4,288 172 1,027 3,510 3.727 3.080 4,288 172 1.027 620 7.857 8.567 2,3C 10.873 Analysis by fvnd Unrestricted fvnds Restricted fvnds 7,857 8,567 8,567 2,3( 2,3C
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Other Income Unrestricted Unrestsicted funds funds 2024 2023 Bank interest received 262 278 Expenditure on charitsbie acllvities Totsl Unrestrlcted Restricted Funds Funds 2023 2023 Total 2024 2023 Direct costs Repairs and maintenance Insurance Rates and wateT Printing and stationery Lecture fees and expenses Independent examination fee Ground rent Membership lees Grave restoration expenses Book expenses Event expenses 5,846 4.259 361 220 307 780 24 330 8.085 3,951 320 76 50 780 24 8,085 3,951 320 76 50 780 24 354 5,700 3.200 5,71X) 3,200 215 12.342 13,640 22,540 Analysls by fund Unrestricted funds Restricted funds 12,342 13,640 13,640 8.9CiI 12.342 13.640 8,9C() 22,540 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefrts from the charity during the year. Employees There were no employees. Taxallon The charity is exempt from taxation on ils actiwties because all its income is applied for tharitable purposes. 10-
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Tangible fixed assets Freehold land )d buildin9S Comwter Alami systèm equipment Cost At 1 November 2023 3.0(KI 1.832 304,182 At 31 October 2024 31,0¢X) 1.832 304,182 DeprÈciation and impaimnt At 1 November 2023 1,832 4.182 At 31 October 2024 1.832 4,182 Carrying amount At 31 October 2024 300,000 300,000 At 31 October 2023 300.C 300.000 10 Debtors Amounts faNing due within one year Trade debtors Other debtors 2024 2023 299 3,885 3,143 4.184 7,087 11 Creditors". amounts falling due within one year 2024 2023 Trade Lyeditors Accruals and deferred income 135 1.739 780 915 2.519 12 Restricted funds The restricted funds of the charity u)mprtse the unexpended balanS of donations and grants held on trust subject to specific condttions by donors as to how they may be used. At1 November 2023 Incoming resources Resources At 31 October expended 2024 129 129 11
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 12 Restricted funds Icontlnuedl Previous year: At1 November 2022 Incoming resources Resources At 31 October expended 2023 6,723 2.3% (8,900) 129 13 Unrestricted fvnds The unrestricted funds 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 unrestrieled funds by the trustees for specffic purposes. At1 Resources At 31 October November expended 2024 2023 Intoming resOue$ General funds 321.083 8,119 (12,342) 316,860 Previous year: At1 Novembtrr 2022 In¢ominy resources Resources At 31 October expended 2023 General fund5 325.878 8.84S {13.640) 321,083 14 Anatysis of net assets between funds Unrestrlcted funds 2024 Restrictsd funds 2024 Totsl 2024 Fund balances at 31 October 2024 are represented by: Tangible assels Current assetsl{liabilities) 300.IY)O 16,860 300,000 16.989 129 316.860 129 316.989 Unrestricted fund$ 2023 Restricted funds 2023 Total 2023 Fund balances at 31 October 2023 are represented by: Tangible assets Cuent assetsllliabilities) 300,000 21.212 21,083 129 321.083 129 321.212 12-
BELFAST NATURAL HISTORY & PHILOSOPHICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 15 Related party transactions There were no disclosable related paty Iransadions during the year (2023 - none>. 13-