Holy Cross Ardoyne Trust Statement of Financlal Activities Year ended 31 December 2022 2022 Unreslricled funds Total funds Tolal ILinds 2021 Notè Income and ondowments Donali011s and lègacles Charitable activities 300 53.977 300 17,008 Total inGome 54,277 54,277 55,393 Expendlture Expenditure on charllable aclivllles Total expendlture 63,385 63,38S 63,385 46.146 83,385 48,148 Net (expgnditurejliiirome and net movement Sn funds 19,108) {9.108) 9,247 Reconclllatlon of funds Total funds broLighl forward Total funds Carrled forward 19,471 19,471 10,363 10,224 10,363 19,471 The slalemenl of fiiiancial aclivilie5 includes all gains and losses re¢ognlsed in th8 year. All Incom@ and expenditure derlve from continuing aclivi1188. Tho notes on p•ggs 7 to 13 form part of th8S8 financlal stalements.
Holy Cross Ardoyne Trust Statement of Financial Position 31 December 2022 2022 2021 Not Fixed assets Tangiblo fixed assets 13 2,484 3,619 Curront assets Deblors Cash al bank and In hand 14 8,568 30,051 7,568 22,154 38,619 29,722 Credltors: amounts falllng due wlthln one yéar Net current assets 15 30,740 13,870 7,879 15,852 Total assèts léss currènt Ilabllltla8 10.383 19,471 Net a5setS 10.363 19,471 Funds of tlie charlty Unreslricled funds 10,383 19,471 Total charity fund$ 16 10,363 19,471 Those financial slalemenls were approved by the board of Iruslees and aulhorlsed for issue on 24-.,1 iol,i.%. and are slgned on behalf of the board by.. Fr A O'Kane Tru51eo Fr P Dufly Trustee The iiotes on pages 7 to 13 form part of thoso flniiiclal statements.
Holy Cross Ardoyne Trust Notes to the Financial Statements Year ended 31 December 2022 General information The charity is a publlc, benefit entity aiid a registered charity in Noflhern Ireland and is uiiincorporaled. The address ol the principal office is Holy Cross, 432 Crumlin Road, 5glfa51, Co Antrim, BT14 7GE. Statement of compllance These financial slalemenls have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic ol Ireland,, the Slalemenl of Recommended Practice appllcable lo charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Républlc ol Ireland IFRS 1021 {Charilies SORP (FRS 10211 and the Charities Act {Northern Ir61andl 2008. Aceountlng poll¢les Basls of proparatlon The finan¢181 stalemenls have been prepared on Ihe hislor5cal cost basis, as modifled by the r8valualion of certain financial assets and Ilabillllea and Inv85tm&nt properties measured al fair valLie through Income or expendllur&. The financial statements are prepared in sterling, which is (he lunclional currency of the enlily, Golng ¢oneern There are no material un¢ertalnlle$ about the charity's ability lo continue. Judgements and key sourGes of estlmatlon uncertainty The preparatlon of the financlal stalem6nls r6qLilres management to make judgements, estimates and assiimplions Ihal affect Ihe arnounls reportfjd. These éstimates and judgoments are conlinLially reviewod and are based on oxp8rience and other factors, inc1udlng 6xpe¢lallons of future events Ihal are believed lo be reasonable under the Cifcumslances, Fund accountlng Unrestricted funds ar$ available for use al Ihe dlscrellon ol th8 trustee$ to further any of the charity's purposes. Designated funds are unreslricled funds earmarked by Ihe Iru5tee5 for parlicular lulure project or commitment. Restricted funds ar@ SLibjecled lo reslrictiorss on Ih81r expendllure declared by the donor or through the terms of an appeal, and fall into one of two sub.classes'. restricted income funds or endowment funds.
Holy Cross Ardoyne Trust Notes to the Flnanclal Statements leoi?tlnuèdJ Year ended 31 December 2022 Acrountlng pollcles (contltTiièd) In¢oining resources All Iiicoming resources are inGluded In (he slalemenl Of flnanclal activilies when enllllemenl h88 passod lo the ch¢irity,' il is probable that the economic benefits assoGialed wllli the Iransaclion will Ilow to Ihe charity and the amount can bo roliably measured. The following spocilic policies ar¢ applied lo particular categories of InGomo'. income from donations or grants is recognlsed when there Is evldence of 8nlillemonl lo the gift, receipt is probable and ils amount can be measured reliably. legacy IF)come 19 re¢o9ni$8d when receipi is probable and 6nlitlemenl is eslabllshed. Ineome from donated good5 is measured al the fair value of the goods unless Ihls is impracllcal lo measure reliably, In whl¢h case the value is derived fiom the cost lo the donor or Ihe eslimaled rosale valuè. Donated facilities and services are recognised in Ihe accounts when receSved If the value C<in be reliably measured. No amounts ar8 included for the contribulioii ol general volunteers. Sncome from contracts for the supply of services Is recognis8d wllh the d8liv@ry of the ¢ontracled service. This Is classified as unreslricled fuiids unless Iherè is a conlraclual requiromenl for il lo be spent on a particular purpose and returned if unspenl. In whlch case 11 may be regarded as restricted. Resourcas expended Expenditure is recognise¢l on an accruals basis as a1Sabilily is Incurred. Expenditure includes any VAT wl)ich cannot be fully recoverod, and Is classified under headings ol the statement of financial acliviliès lo which il relates,, expendllure on ralslng funds Includes the costs of all lunéra181ng acllvilies, events, non. charitable trading activities, and the sale of donated goods. expenditure on charitable acllvllies includes all costs incurred by a charlly In undertaking activities that further ils Charitable aims for the benefit of ils beneficiaiies, including those supparl costs and costg relating lo the govornance of the charily apporlloned to charitable activities. other expenditure Includes all expenditur8 Ihal Is nelthei related lo raising funds for the chaTIIy iior part of 115 expendllure on charitable aclSvitles. All costs are allocalod lo expenditure categorles reflecllng the use of the resource. Direct Gosls allrlbLil8ble lo a slngle acllvity are allocated dlreclly to that aclivily, Shared costs are apportioned between Ihe acllvilies they conlribule lo on a reasonable, justifiable and consi51ent basis. Tangiblg assgts Tangiblg assets are initially recorded al c051, and subsequently stated at cost less any accumulated depreciation and Impalrment losses, Any tangible assels carried at revalued amouiils are recorded al Ihe fair value al tho dale of revalualion less any subsoqiienl accumulated depreciation and subsequent accumulated impairrnent loss&s.
Holy Cross Ardoyne Trust Notes to the Flnanclal Statements fronlinued) Year ended 31 December 2022 Accounting pollcles (eontliiiiod) Tanglble assets (e+Jlltlrtuéd) An increasa in tha carryin9 amount of an asset as a result of 3 ValUatIon, is recognised in other rocognisod gain5 and losses, unloss il reverses 8 charge fer impairment that has proviously been reLognised as oxpendilure wllhln the slalement of financial aclivilies, A deGroaso in the carrylng amount of an asset 88 a result of revaluation, is recoonised in other rettognised gains and10888s, except lo wh5ch il offsels any previous revaluation gain, in whlch case Ihe loss is shown within other recognlsad gains and losses on the statement of flnanclal aclivilie8. Depréclatlon Depreclalion is calculated so as lo wr518 off Ihe cost or valuation of an asset, le55 Ils resi(iual value, over the u5efu1 economiG life of that assel as follows,, Equipment 20•10 slral9ht line Impalrment of fixed asSOts A review for indicators of impairment is carrled out al each reporting date, with th6 recovarable amount being esllmale(J where sucli indlcalors exist. Where the carrylng value exceeds the recoverable amount. the asset is iimpair&d accordingly. Prior impairinenls are also reviewed for posslble reversal 81 each reporling dale, For thé purposes of impairment testing. when11 Is not possible lo eslimatg tha recoverable amount of an individual assel, an estimate is made of the recoverablg arnounl of the cash-generaling unil lo which the asset belongs. The c8sh-generaling unil is the smallest Identifiable group of 1¢ 5sels Ihal includes the asset and generates cash inflows that largely indepelldenl of the cash inflows from other a8se18 or groups of assets. For impairment lesling of goodwlll, the goodwill acqulred In a business combination is. from the acquisllion dalè, allocated lo aach of Iho Cash-generaling units that are oxpecled lo benefit from Ihe synergies of the cornbiiiation, Ifrespèclive of wh8lh8r other assels or liabilities of the rharily are assigiied lo Ihoso units. Financial instrumonts A financial asset or a financial Ilabllily Is recognised only when tho charlly beconies a party to the contractLial provisions of the Instrument. Basic financial instruments are Inillally recognisod at the amounl receivable or payable Including any related Irai)saclion costs, Currenl assets and current liabililles are subsequeiitly measured at the cash or other consideration expected to be paid or reGeived and nol discounted, Debt Instrument8 are subsequeiitly measured al amorlised cost. Where Investments in shares are publlcly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured al fair valufj wllh changes in lair valuo recognised in income and expendlture. All other such inv8Strn8nls are subsequei)Ily measured al cost less inipic irni8nl.
Holy Cross Ardoyne Trust Notes to the Financial Statements (coiillnuedj Year ended 31 December 2022 Accountlng policies f¢onflnu?d) Financlal Instruments l¢onllnued) Other financial inslrumenls, Including derlvalives, are inlllally recognised al lair value, uiiless paymeiil lor an assÈl is deferred beyond normal business leims or financed at a ral& of inlorest Ilial is not a rnarkel rate, in which Gaso the assgt is measured 31 the prgsenl valu9 Of tho Ivlure paymen1$ discounted al a markol rate of Interest for a simllar debt In$lrumenl. Other financial instruments are subsequently measured al fairvalue, with any change$ recognised in Ihe 81alemenl of finanGial a¢livilies, wllh the ex¢epllon of hedging in$lrumenis in a deslgnaled hedging r&lallonship. Finar)cial assets Ihal are measured al cost or amorlised cost aro r6viewed lor objective evidence of iinpairment al the end of each reporting dale, If Ihere is oblectlve evid ence ol impairmenl, an impairmeiil loss is recognised undor Ilie appropriatg hoadlng in the statement of fii)aiicial activities in which the initial gain was recognlsed. For all eqLllty instruments regardless of signiflcance. and olh8r financial assets that are individually $19nlficanl, these are assessed Indlvldually for impairment. Olher financial asse15 are either a5sess6d indivldually or 9rouped on the basis ol similar Gredil risk characl8risli¢s. Any raversal$ of Irnpairmenl are recognised immediat81y, to the exlenl that the reversal does not result in a carrylng amount of the financial asset Ihal exceeds what the Carrying amount would have beeii had tho impairment not previously beon re¢ognised. Donatlons and legacles Unreslricled Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Donatlons Donations - Congregation of the Passion 300 300 Grants Department of CommunltSés Covld-19 Grant 38,385 38,385 300 300 38,385 38,385 Charltable actlvltles Unrestricted Total Fund8 Unreslricled Total Funds Funds 2022 Funds 2021 Other Iiicome from charitable arllvllles 53,977 53,977 17,008 17,008 10
Holy Cross Ardoyne Trust Notes to the Financial Statements fconllnued) Year ended 31 December 2022 Expendlturo on ¢harltable aetlvlties by fund type Unreslricled Total Funds Uiire51ricled Total Fuiids Funds 2022 Funds 2021 Costs associated wllh rental Support Costs 61,561 1,824 61,561 1,824 63,385 43,973 2,173 43,973 2,173 63.385 46,146 46,146 Expendlture ¢n ¢harltable activltlas by actlvity typo Activities undertaken directly Support Total funds costs 2022 Total fund 2021 Costs associated with rental 61,561 1,824 63,385 46,146 Analysls of support ¢osts Analysls ol supporl costs aclivlty Total 2022 Total 2021 Support costs - Forelgn exchange varlance Svpporl c051s- Bank fees Svrjporl costs . Accountancy fees Stipporl costs - Depreciation (337> 96 930 1,135 13371 96 930 1.135 242 76 720 1,135 1 ,824 1.e24 2,173 Net (expendlturellincomo Net lexpendilurellincome is slated aller charglngllcrediting).. 2022 2021 Depreciation of tangible flxed cissels 1,135 1,135 10. Independent examination fees 2022 2021 Fees payable lo the independent examlner for.. Independent examlnalion ol the financlal slaleni@nls 1,650 720 11. Staff costs Ouring 2022 Holy Cross Ardoyne Trust's contribulioii lo The Congregation of Ihe Passion of Jfjsus Christ in relation lo stall costs lor work undertaken on behalf ol the Charity was £27,82712021 '. £22,195), 11
Holy Cross Ardoyne Trust Notes to the Flnancial Statements f¢onllnuedJ Year ended 31 December 2022 12. Trustee remunÈratlon and expensès None of the Trustees have received any remuneraliDn during Ihg year in their capa¢ily as IrLtsleas. 13. Tanglble flxed a$sot8 Equipmont Cost At 1 January 2022 and 31 December 2022 Depreclatlon At 1 January 2022 Charg8 for the year At 31 Decgmber 2022 5,673 2,054 1,135 3,189 Carrylng amount At 31 December 2022 2,484 Al 31 December 2021 3,619 14, Dabtors 2022 2021 Trade debtors 8,568 7,568 15. ¢redltors: amounts falllng due wlthln onè year 2022 2021 A¢¢ruals and deferred Incomo 30,740 13,870 16. Analysls of charltable funds Unrestrlcted funds At 1 Jan 2022 At Incomo Expendlture 31 Dec 2022 Genoral funds 19.471 54,277 163,385} 10,363 At1 Jan 2021 Al Income Expenditure 31 Dec 2021 General funds 10.224 55,393 146.148) 19,471 12
Holy Cross Ardoyne Trust Notes to the Financial Statements (¢ontlnii8d) Year ended 31 December 2022 17. Analysis of net assots between funds Unre51ricled Total Funds Funds 2022 Tangibla fixed assets Current assets Creditors less than 1 year Net assets 2.485 38,S18 130,740) 10,363 2,485 38,618 (30,7401 10,383 Unreslricl8d Total Funds Funds 2021 Tanglble flxed assets Current assets Creditors less than 1 y&ar Net as$6ts 3,619 29,722 113,8701 19,471 3.619 29.722 113,870} 19,471 13