ULSTER ARCHAEOLOGICAL SOCIETY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEMBER 2024
ULSTER ARCHAEOLOGICAL SOCIETY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEIKBER 2024 Page Legal and Administrative Information Staten]ent of Trustees, Responsibilities Independent Examiner's report Statement of Financial Activities Balance sheet Notes to the fmancial statements
ULSTER ARCHAEOLOGICAL SOCIETY LEGAL AND ADMINISTRATIVE INFORMA TION AT 311t DECEMBER 2024 PRESIDENT Miss Anne MacDern)ott VICE-PRESIDENTS Prof Eileen Murphy Mr Ruairi O Baoill (resigned 12105124) Mr John Moore HONORARY SECRETARY Mr Patrick O'Neill (appointed 26102 124) ASSISTANT SECRETARY EVENTS Miss Anne MacDernJott HONORARY TREASURER Mr Lee Gordon HONORARY EDITOR, JOURNAL Mr Corn]ac Bourke HONORARY EDITOR, NEWSLETTER Dr Duncan Berynan HONORARY FIELDWORK CO.ORDINATOR Mr Malachy Conway STANDING COMMITTEE Mr Randal Scott Mr Leo van Es Mr David Craig Mrs Roisin Mccaughan Miss Grace McAlister Mr Brian Sloan Dr Rena Maguire Miss Nicole Finlay (appointed 21110124) Dr Courtney Mundt Ms Cherie Edwards MTS Bronagh MUaY (appointed 17106124) NORTHERN IRELAND CHARITY NUMBER NIC101151 ACCOUNTANTS Baker Tilly Mooney Moore Chartered Certified Accountants 17 Clarendon Road Clarendon Dock BELFAST BTI 3BG PRINCIPAL BANKERS Ulster Bank Connswater Retail Park BELFAST BT5 4AF Page I
ULSTER ARCHAEOLOGICAL SOCIETY TRUSTEES? RESPONSIBILITIES FOR THE YEAR ENDED 31" DECEMBER 2024 The Charities Act (ND 2008 requires the bSteeS to prepare financial statements for each fmancial year which give a trne and fair view of the Society's financial activities during the year and of its [anCIal position at the end of the year. In preparing those fmancial statements. the trustees are required to". -5elect suitable accounting policies and then apply them consistently. -make judgements and estimates that are reasonable and prlldent. -prepare the fmancial staternents on the going concern basis unless it is inappropriate to presume that the Society will continue in business. The trustees are responsible for tnaintaining proper accounting records which disclose with reasonable accuracy at any time the fmancial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act (NI) 2008. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitie5. Approved by the ttustees and signed on their behalf by.. Anne MacDern]ott Date: IqJ,al#a2.fj...... Page 2
ULSTER ARCHAEOLOGICAL SOCIETY INDEPETrIDENT EXAMINER'S REPORT TO THE TRUSTEES OF ULSTER ARCHAELOGICAL SOCIETY We report on the accounts of the Trust foT the year ended 31 Decetnber 2024, which are set out on pages 4 to 9. Respective responsibilities of charity trustees and examiner As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. It is our Tesponsibility to-. examine the accounts under section 65 of the Cbarities Act follow the procedures laid down in the general DiTections given by the Cornmis5ion under section 65(9)(b) of the Charities Act state whether particular matters have come to our attention. Basis of independent examiner's report We have exatnined your charity a¢counts as required under section 65 of the Charities Act and our examination was Caled out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)0)) of the Charities Act. Our examination included a review of the accounting records kept by tbe charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity tru5fres concerning any such matters. Our role is to state whether any material matters have come to our attention giving us cause to believe: l. That accounting recor¢ls were not kept in accordance with section 63 of the Charities Act 2. That the accounts do not accord with those accounting Tecords 3. That the accounts do not comply with the accounting Tequirernents of the Charities Act 4. That there is further infonnation needed for a proper understanding of the accounts to be Teached. Independent examiner's statement We have completed our examination and have no concerns in respect of the matters (l) to (4) listed above an(L in connection with following the Directions of the Charity Commission for Northern Ireland, we have found no matters that require th7wing to your attention. ICL c, 11 1400/ Baker Tilly Mooney Moore Chartered Certified Accountants 17 Clarendon Road Clarendon Dock Belf&st BTI 3BG Date.. tE ki 20>< Page 3
ULSTER ARCHAEOLOGICAL SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31" DECEMBER 2024 Unrestricte d Funds Restricted Funds Totsl Funds 2024 Total Funds 2023 Notes Income and Expenditure Income from: Donations & legacies Charitable activities 12,860 12,860 9,189 15,894 15,894 15,678 Investsnents 1,928 1,928 1,581 Total 30,682 30,682 26,448 Expenditure on: Costs of generating fimds Charitable activities 7,889 7,889 7,867 17,283 17,283 15.788 Total 25,172 25,172 23,655 Net income/ (expenditure) for the year 5,510 5,510 2,793 Transfers betTrveen funds Net movement in funds 5,510 5,510 2,793 Balances brought forward I" January 2024 52,404 528 52,932 50,139 Balances carried forTrv2rd 3151 December 2024 57,914 528 58,442 The notes form part of these financial statements Page 4
ULSTER ARCHAEOLOGICAL SOCIETY BALANCE SHEET AS AT 31" DECEMBER 2024 Notes 2024 2023 FIXED ASSETS Tangible assets 310 413 CURRENT ASSETS Debtors 13,019 65,222 1,267 61,068 62,335 9,816 C&sh at bank and in band 78,241 20,109 CREDITORS: amounts falling due within one year NET CURRENT ASSETS 58,132 52,519 TOTAL ASSETS LESS cURNT LIABILITIES 58,442 52.932 NET ASSETS 58,442 52,932 FUNDS Uwestricted Funds io 57,914 528 52,404 528 Restricted Funds io TOTAL FUNDS 58,442 52,932 The fInancial statements were auth0ri5ed for issue by the trustees and signed on their behaIf by: Mr Lee Gordon Date.. 1-11015 The notes form part of these financial statements Page 5
ULSTER ARCHAEOLOGICAL SOCIETY NOTES TO THE FINANCIAL STATELIIENTS FOR THE YEAR ENDED 31$t DECEIVIBER 2024 STATEMENT OF ACCOUNTING POLICIES Accounting convention The fmancial statements have been prepared under the historical cost convention. They have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Chartties" and the Financial Reporting Standard applicable in the UK and Republic of Lreland (FRS 102) (effective l January 2015) Charities SORP (FRS 102)) and the Charities Act (Nl) 2008. Income All income is recognised once the society has entitlement to the funds, it is certain that the funds will be received and the monetary value of income can be measured with sufficient reliability. Income from charitable activities represents amounts receivable from members and other sundry income. Donations and legacies are recognised in fiLII in the Statetnent of Financial Activities foT the period to which they relate. Expenditure Liabilities are recognised as expenses as soon a5 there is a legal or constrnctive obligation committing the society to the expenditure. All expendiLle is accounted for on an accrllal's basis. Costs of generating funds The cost of generating funds consists of the printing costs of the Ulster Journal of Archaeology and costs incurred with the society's annual dinner. Charitable activities Costs of charitable activities include expenses incurred in respect of leCth¢S and field trips organised by the society, together with all costs involving the public accountability of the charity and it's compliance with regulation and good practice. Taxation There is no liability to taxation due to the society's charitable ststus. Fund Accounting The society has various types of funds for which it is responsible and which require separate disclosure. These are as follows: Restricted Funds Donations received which are designated by the donor for specific puryoses. Such purposes are within the overall airns of the organisation. Unrestricted Funds Funds which are expendable at the discretion of the society in rtheran¢e of the object5 of the society. Tallgible Fixed Assets Depreciation is provided at the following annual Tates in order to write off each asset over its estimated Use1 life. Sundry Equipment- 250/0 reducing balance Page 6
ULSTER ARCHAEOLOGICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEMBER 2024 INCOME FROM DONATIONS & LEGACIES Unrestricted Funds Restricted Funds Tot21 Funds 2024 Total Funds 2023 Personal subscriptions Institutional subscriptions 8,116 4,744 8,116 4,744 12,860 6,943 2,246 9,189 INCOME FROM CHARITABLE ACTIVITIES Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 Sale of back numbers Royalties - Publisher Licensing Society Conference receipts Annual dinner Field trips Sundry 166 31 2293 714 12,617 73 15,894 166 31 2,293 714 12,617 73 15,894 263 368 2,289 923 11,211 624 15.678 INVESTMENT INCOME Unrestricted Funds Restricted Funds Total Funds 2024 Tot21 Funds 2023 Bank deposit inteTest 1,928 1,928 1,928 1,928 1.581 1.581 ANALYSIS OF EXPENDITURE ON GENERATING FUNDS Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 Printing costs Annual dinner 7,175 714 7.889 7,175 714 7,889 6,911 956 7.867 Page 7
ULSTER ARCHAEOLOGICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024 ANALYSIS OF EXPENDITiniE ON CHARITABLE ACTIVITIES Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 Costs direetly allocated to charitable activities Lecture costs Subscriptions Conference costs Field trip expenses 574 50 727 12,771 14,122 574 50 727 12,771 14,122 632 50 412 10,855 11.949 Support costs Postage and stationery Insurance Bank charges Accountancy Sundry Depreciation 1,233 627 113 816 269 103 3,161 1233 627 113 816 269 103 3,161 2,277 590 43 792 137 3.839 Page 8
ULSTER ARCHAEOLOGICAL SOCIETY NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31" DECEMBER 2024 TANGIBLE FIXED ASSETS Sundry Equipment Total Cost At 1° January 2024 Additions At 31" December 2024 4,875 4,875 4,875 Depreciation At I" January 2024 Charge for the year At 31" Decernber 2024 4,462 103 4,565 4,462 103 Net Book Value At 3151 December 2024 At 3 ISI December 2023 310 413 310 413 DEB TORS 2024 2023 Sundry debtors 13,019 1.267 CREDITORS: Amounts falling due within one year 2024 2023 Subscriptions Teceived in advance Accruals I,ioi 19,008 20,109 840 8,976 9.816 io. ANALYSIS OF CHARITABLE FUNDS Unrestricted Funds Restricted Funds Total At isl January 2024 Net income/ (expenditure) At 31" DecembeT 2024 52,404 5,510 57,914 528 52,932 5,510 528 Page 9