Holy Cros& Ardoyne Trust statement of Financial Activities For The ye Ended 31 December 2024 2024 2023 Unrestricted Unrestricted funds funds Notes INCOME AND KNDOWMELYTS FROM: Donations and legacies Charitable activities: Rentsl illcon Cafe 6,007 1,000 77,553 8,305 50,449 91,865 51,449 EXPENDfiuRE ON: Raising fund8 Charitable activities,. Rental income Cafe (1,800) (2,109) (108,529) {12,050) (56,598) (122,379) (58,707) (7,258) NET EXPENDITURE (30,514) NET MOVEMENf IN FUNDS (30,514) {7,258) RECONCILIATION OF FUNDS: Total fimds brought foThv&rd 3,105 10,363 TOTAL FUNDS CARRIED FORWARD 14 (27,409) 3,105 The note8 ott pages 7 to 12 fonn part of these fth&ttcial statements. Page 5
Holy Cross Ardoyne Trust Statement of Fln&tteial Posltlon A8 At 31 December 2024 2024 Unrestrleted funds 2023 Total fuDds oteg FIXED ASSETS Tangible Assets 10 2,220 1,349 2,220 1,349 CURRENT ASSETS Debtor8 Cash at bank and in hand li 3,970 39,086 4,284 23,538 43,056 27,822 (26,066) Credltors: Amounts Falling Due Withln One Year 12 (72,685) NET CURREI¥4T ASSETS (LIABILITIES) (29,629) 1,756 'OTAL ASSETS LESS CURRENT LIABILITIES (27,409) 3,105 NET (LIABILITIES)IASSETS (27,409) 3,105 FtiNDS OF THE CHARITY Unrestricted Funds (27,409) 3,105 TOTAL FUNDS 14 (27,409) 3,105 Oll behalf of the board Fr P Dllffy Trustee 3111012025 The notes on pageg 7 to 12 form part of these fmanoial statements. Page 6
Holy Cross Ardoyne Trnst Notes to the Flnanclal Statements For The Year nded 31 December 2024 l. General Informatlo Holy Crosg Ardoyne Trust is att unincorporated charity registered with the Charity Commission, regi8tored oharity number 101179, The principal address is Holy Cross, 432 Crnn)lin Road, Belfas( Co Antrim. B T14 7GE. 2. Accountlng Pollcles 2.1. B1& of Preparatlon of Fln&nclal Statements The financial 8tatenL¢llt8 h&ve been prepared in accordanGe with the Charities SORP (FRS 102) Accounting and Reporting by C]Jarities: Statement of Recommended Practice applicable to charities pteparing their rOllnts in accordarAce with the Financial Reporting Standard applicable in th# UK and Republic of Ireland (FRS 102) (effective l January 2019) Financial Reporting Standard 102 "The Financial Reporting StIdard appliGable in the UK and Repub¢ of Ireland and the Charities Aot (Northern Ireland) 2008. The charity 18 a Publi¢ Benefit Entity as defined by FRS 102, 2.2. Incoming Resources All inooming resourGes are included in the statement of financial &Gtivitigs when entitlement has passed to the charity. it is probable that the economir benefits a560oiated with the transaotion will flow to the Gharity and tbe amount can be reliably mea8ured, The following speoific policies are applied to particular categories of income.. . in¢omo from donations or grants 18 reco£ni8ed when there is evidellce of entitlement to the gift, receipt 18 probable. and its amowit cm be m¢a8ured reliably, . logacy income is recogni8¢d when receipt 18 probable and entitlement 18 est&blishcd. . irtoorne from donated goods is mea8ured at the fair value of the goods unless thi8 18 impractical to measure reliably> in wbich ca8e tho vakue is derivod from the cost to the donor or the estimated re8ale value. Donated facilitie5 and services are recognised in the aGoounts whon received if the value can be reliably me&8ured, No amount8 are included for the contribution of general volunt¢er8. . income from contr3Ct8 for th¢ 8upply of services 18 Tecognised with the delivery of the GontracteLt SeiCe. Thi8 is cla8sified as unrestricted fLmd8 unle8S there is a oontractual requirement for it to be spent on a particular PUTpose and rethrned if unspent, in whi¢h case it DY be regdea &8 TestrioteLL 2.3. Resources Expended Expenditure is recogni8ed on an acGrua15 basis as a liability is incurred. Expendityre includes ally VAT which cannotbe fully recovered, and 18 Classified uncier headings of the statement or rinancial activities to which it relates.. expenditure on Taiging fiu]ds includes the Gosts of all fidraISIllg activities, events, non haritabl¢ tr&ding a¢tivities, and th¢ sale of donat¢d goods. • expenditure on ¢lwitable a¢tivitie8 includes all cost8 incurred by a charity in llndertaki activities tkwt furtlw its charitable aims for the benefit of its beneficiaries, including those support costs and Losts relating to the governance of the oharity apportioned to ¢haritabl¢ tivitieS. other expend11m includes all expendittwe that is neither related to raising funds for the charity nor part of its expenditure on charitable activities, All costs are allocated to expenditure oategories reflecting the use of the resource. Direct costs attnbutable to a 8ittgle activity are allocatsd directly to that actlvlty. Shared costs are apportioned between the activitie8 they Contribute to on a rea8Ollable, justifiable, &lld consistent basis. Page 7
oly Cross Ardoyne Trust Iyotes to the Flnancial Statemellts (continued) For The Year Ended 31 December 2024 2.4. Tanglble Flxed Assets and Depreciation Tangible fixed assets are measuted at Cost less accumulated d8pTeciation and any accumulated impairnient losses. Depreciation is provided 8t rat88 C¢ll1ated to write off the cost of the fed assets, less their estimated residual value, over their expected useful IAve8 on th¢ following base8: Fixtures & Fittings 200/0 reducing balance 2.5. Cash Cish EquivAlents Cash and cash equivalents are ba8ic financial assets alld include cash iti ILand and deposits h¢ld at Call with banks, Other short- terni highly liquid investments that mattwe An no more thall three months from the date of acquisition and are readily convertible to a l<nown amotmt of Ga8h with illsignificant risk of clwige in value, and bank overdrafts. 2.6. Foreign Currencie5 Monetary Assets and liabilities in foreign currencie8 are translated into sterling at the rate8 of ¢x¢hauge ruling at the 8tstement of financial position date, Trallsactiolls in foreigrt currencies are translated itito sterlillg at the rats ruling on the date of the transaction. Exchange differellces are tth into account in arriving at the operating Sutplus. 3. Income from Donatlons and Legaeies 2024 2023 Unrestricted Unrestrlcted fund8 funds Dollation8 and gifts: Donations - Congregation of the Pa8sion 6,007 1,000 4. Net Income/(Ei xpendlture) The net expendxture is stated after chargingl(crediting): 2024 2023 Deprlation of tangible fed asset5 - owned 1,635 1,135 5. Analysls of Expendlture 2024 Activities undertaken directly Support costs (se¢ tte 6) (see rtote 7) Tot&1 Raising funds Rental income Cafe 1,800 897 1,800 108,529 12,050 107,632 12,050 119,682 2,697 122,379 Page 8
Holy Croys Ardoyne Trust Notes to the Finalleial StAtements (continued) For The Year Ended 31 Decetnber 2024 2023 Activities undertalcen directly Support costs (See note 6) (see note 7) Total Raising fijnds Rental income 2,109 2,109 56,598 56,598 56,598 2,109 58,707 6. Dlrect Costs 2024 Relltal Ineome Cafe Total Fundraising activities.. Startup costs incurred for Cafe C08t of goods sold: Purchases Employee cost8.. Wages and salaries Prertiises expenses: Premises oosts General adMinAstratÈon: Consultancy fees R¢pairs, r¢n¢wals, alld marntenallce In8uran¢¢ Telephone and postage Printing and stationery 6,007 6,007 2,016 2,016 40,281 40,281 36,326 4,027 40,353 1,440 11,845 2,895 1,203 13,642 1,440 11,845 2,895 1,203 13,642 107,632 12,050 119,682 2023 Rental Income Employ¢¢ costs: Wages and 8alaries Pr¢mi8e8 expenses: Premise8 008ts General 8dministration: Repairs, renewals, and maintenance 7,375 31,576 14,396 CONTtNUED Page 9
Holy Cross Ardoyne Trust Notes to the Fthancl81 Stlltements (Continued) For The ye Ended 31 December 2024 Telephone and postage Printing and stationery 3,917 (666) 56,598 7. Support Co&t 2024 Raising funds Rental income Total Depreciation Ittterest payable Governance costs 1,800 1,800 117 117 780 780 1,800 897 2,697 2023 Ralslng funds Depreciation Interest payable Governance costs 1,286 103 720 2,109 8. Independent Ixaminer's Remuneratlon 2024 2023 Independent examinatton of the financial statetnents Other assurance services Tax advisory serYice8 Other fillan¢ial servi¢e8 780 720 780 720 9. Staff Costs Staff costs were as followg,. 2024 2023 WaEes and salaries 40,281 7,375 No employees received enkployee benefit8 (excluding employer pen8ion costs) for the reporting period of more than £60,000. Page 10
Holy Cross Ardoylle Trust Notes to the Financia] Statements (continued) For The Year Ended 31 December 2024 10. Tanglble Assets Fixtures & Fitting8 Cost As at l January 2024 Additions 5,673 2,506 A8 at 31 December 2024 8,179 Depreeiation As at l January 2024 Provided during the period 4,324 1,635 As at 31 December 2024 5,959 Net Boolc Value As at 31 December 2024 2,220 As at l Jauuary 2024 1,349 11. Debtors 2024 2023 Due )wlthln one yeAr Trade dobtors 3,970 4,284 12. Creditors: Atnounts fi alling Due Within One Year 2024 2023 Other loans Acornaly and deferred income 5,000 67,685 26,066 72,685 26,066 13. Loans An analysis OF the matiwity of loans 18 given below., 2024 2023 Amounts falling due within one year or on dettmld: Other loalls 5,000 Cottgregation of the Passion gave Holy Cross Ardoyne Trust & loan during the year &moullting to £5,000. Pagell
Holy Cross Ardoyne Trust Notes to the Flnaneial Statsments (continued) For The Year Ellded 31 December 2024 14. Movement In Funds A8at31 December 2024 Asati Janllary 2024 Income Expenditure Unrestricted funds General.. General UllrestrACted fid 3,105 91,865 {122,379} (27,409) Total funds 3,105 91,865 {122,379) (27,409) Asat31 December 2023 Asati January 21123 Ineome Expenditure Unrestrlcted funds General,. General unrestricted fund 10,363 51,449 (58,707) 3,105 Total funds 10,363 51,449 (58,707) 3,105 15. Transaction5 Ivlth Trustees No ttustee expenses have been iticurred. 16. Related Party Disclosures The Holy Cross Ardoyne Twst is associated with Congregation of the Pas8Lon of Jesus Chri8t in that both charities have lrnstees in Commo The Holy Cross Ardoyne Trust8 operate8 from tho Houben Centre on the Crumlin Road which As located in Congregation of the Passion's grounds. During the year Congregation of the Passion charged Holy Cross Ardoyne Trust £40,28 I for wages, £11,089 eleLtrio, £2,895 illsuran¢o, £7,355 stationery and £1,203 tolephone, During the Ye Congregation of the Passion paid for start-up cost of the cafe, lotallitig £6,007. At the end of the year tbere is a c108ing creditor to Congregation of the Passion aOUnting to £63,996 (2023.. £25,345). Page 12