CHARITY REGISTRATION NUMBER: NIC101366
Friends Of The Ulster Museum
Financial Statements
30 June 2022

Friends Of The Ulster Museum
Financial Statements
Year ended 30 June 2022
Page
Trustees, annual report
Independent examiner's report to the trustees
Statement of financial activities
Statement of financial position
Notes to the financial statements
The following pages do not form part of the financial statements
Detailed statement of financial activities
15
Notes to the detailed statement of financial activities
16

Page 1
Friends Of The Ulster Museum
Trustees, Annual Report
Year ended 30 June 2022
The trustees present their report and the unaudited financial statements of the charity for the year
ended 30 June 2022.
Reference and administrative details
Registered charity name
Friends Of The Ulster Museum
Charity registration number
NIC101366
Principal office
ejo Ulster Museum
Botanic Gardens
Belfast
BT9 SAB
The trustees
Mrs P Cameron
Mrs P Blamphin (Chairperson)
Miss M P Mackintosh (Treasurer)
Mrs D Baillie (Administrator)
Mr l Forsylhe
Dr M Gibson
Ms H Crowdy
Mr J Leckey
Mrs M Noad
Mr P Thompson
Mrs D Hiscock
Independent examiner
Johnston Graham Limited
Chartered Accountants
2161218 Holywood Road
Belfast
BT4 1PD

Page 2
Friends Of The Ulster Museum
Trustees, Annual Report f¢oneinue
Year ended 30 June 2022
Structure. governance and management
As sel out in the conslitulion, the administration, conduct and function of the charity will be upheld by
the Management Committee made up of three officers and 8 ordinary members supported by a paid
administrator. The Committee holds a meeting at least twice a year. The nine ordinary members are
elecled al the AGM for a term of three years. The Chairman and the Vice Chairman a￿ elected at
the AGM and re-elected each year for a period of five years. The Hon Treasurer is elected each year
at the AGM. The Annual Accounts which have been examined by an independent examiner are
presented at the AGM for the membership's approval. Grants and donations requests are brought to
the meeting of the Management Committee by the Hon Treasurer for approval and are presented in
the annual accounts to members at the Annual General Meeting. Further approval of the annual
subscription and the Adminislratorfs salary are brought to the Management Committee by the Hon
Treasurer for approval and are presented in the annual accounts.
No change being a variation or item rescinded lo the constitution shall be made without being passed
by not less than ￿0-thirdS of members in person at the AGM.
The Friends of the Ulster Museum was registered with the Nl Chartty Commission in December 2015.
The Hon Treasurer is the main contact with the Commission's office. The main business address is clo
Mrs Deborah Baillie, Administrator, Friends of the Ulster Museum, Ulster Museum, Botanic Gardens,
Belfast BT9 SAB
The management committee met during 2021-2022 on the following dates to administer the normal
business of the Friends. Dates..
10th August 2021, 23rd Seplember 2021, 191h May 2022 and 6th
September 2022.
Objectives and activities
To support and assist The Ulster Museum, and to promote ils use and enjoyment by the public. To
provide funding {eilher directly. or after accumulation or investment) lo allow The Ulster Museum to
purchase objects to add lo the Museum's collection for public exhibition. and in particular art science
and history exhibitions. To encourage and support other similar bodies associated with the Ulster
Museum.

Page 3
Friends Of The Ulster Museum
Trustees. Annual Report (continued)
Year ended 30 June 2022
Achievements and performance
Funds held by the Friends of the Ulster Museum have been generated by a bequest pla￿d in an
investment portfolio producing annual income and events run by the members raising funds to support
and assist the Ulster Museum to promote ils use and enjoyment by the public. These funds also
pemiit the museum to purchase objects adding to its collections for public exhibition. The Friends
also support and encourage other similar bodies some associated with the Ulster Museum.
A further source of funds is received by members, subscriptions. gift aid and bank interest ttjvering
administration costs.'_ wages and salaries, printing and stationery, bank charges. insurance. The
Friends employ one part-ts'me administrator bul does not have overhead costs.
Grants and donations requests are brought to the meeting of the Management Committee by the Hon.
Treasurer for approval and are presented in the annu81 accounts lo members al the Annual General
Meeting. Further approval of the annual subscription and the Administrato¢s salary are brought lo the
Management Committee by the Hon Treasurer for approval and are presented in the annual accounts.
This report records activities of the Friends during the year 1st July 2021 to 30th June 2022. It
normally would summarise the grants and donations made during the financial year, details of which
would be presented in the Annual Accounts at the AGM. Due to the restrictions though having been
somewhat relaxed of the Covid-19 pandemic. we did receive some requests and made the following
donations'.-
A payment of £1,000 towards the publishing of Miss Eileen Black's latesl book "Through the
Salerooms"
£5,000 towards the purchase by the Ulster Museum of"The 36th {Ulsterl Division at the Cenotaph" by
William Conor.
Financial review
The result for the year shows an overall surplus of £380 and gain on investments of £1,537.
Reserves policy
The Trustees have a discretionary portfolio with our brokers sel up lo maximise the return lo the
charity within acceptable risks and to provide adequate reserve to meet the needs of the charity into
the foreseeable future. The investment portfolio is held for growth and interest lo allow the friends lo
support the Ulster Museum, acquire items for the curators of history Scien￿ and art and further
8SSlSting with large scale exhibitions.
Plans for future periods
To continue with our raison d'etre of assisting and supporting the Museum.

Page 4
Friends Of The Ulster Museum
Trustees, Annual Report{continued)
Year ended 30 June 2022
Responsibilities of the trustees
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial
statements in accordance with applicable law and regulations.
The law applicable to charities in Northern Ireland requires the trustees lo prepare financial statements
for each financial year. Under that law the Iruslees have elected lo prepare the financial statements in
accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom
Accounting Stsndards and applicable lawl. The trustees must not approve the financial statements
unless they are satisfied that they give a tnje and fair view of the stste of affairs of the charity and the
income and expenditure of the charity for that period.
In preparing these financial ststements, the trustees are required to..
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP..
make judgements and accounting estimates that are reasonable and prudent.,
state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial stalemenls.,
prepare the financial statements on the going Con￿rn basis unless it is inappropriate to
presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient lo show and
explain the charity's transactions and disclose with reasonable accuracy al any time the financial
position of the charity and enable them to ensure that the financial statements comply with the
Charities Act (Northem Ireland) 2008. They are also responsible for safeguarding the assets of the
charity and hence for tsking reasonable steps for the prevention and detection of fraud and other
irregularities.
The trustees, annual report wa5 approved on 27 September 2022 and signed on behalf of the board of
trustees by..
Mrs P Blamphin (Chairperson)
Trustee

Page S
Friends Of The Ulster Museum
Independent Examiner's Report to the Trustees of Friends Of The Ulster
Museum
Year ended 30 June 2022
I report to the trustees on my examination of the financial statements of Friends Of The Ulster
Museum I'the charity,) for the year ended 30 June 2022.
Responsibilities and basis of report
As the trustees of the charty you are responsible for the preparation of the financial statements in
accordance with the ￿qUirements of the Charities Act (Northern Ireland) 2008 (the '2008 Act'l. You
are satisfied that your charity is not required by charity law to be audited and have chosen instead to
have an independent examination.
I report in respect of my examination of the charity's financial statements as carried out under section
65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the
Charity Commission for Northem Ireland under section 6519}(b) of the 2008 Act.
Independent examinerfs statement
I have completed my examination. I confirm that no matters have come to my attention in connection
with my examination giving me cause to believe that in any material ￿Spect..
accounting records were not kept as required by with section 63 of the 2008 Act,. of
the financial statements do not accord with those records.. or
the financial statements do not comply with the accounting requirements of the 2008 Act,. or
the financial statements do not comply wth the applicable requirements conceming the
form and content of accounts set out in the Charities (Accounts and Reports) Regulations
2008 other than any requirement that the accounts give a 'true and fairf view which ts not a
matter considered as part of an independent examination.
I confirn that there a￿ no other matters to which your attention should be drawn to enable a proper
understanding of the at￿Unts to be reached.
David Knox
For and on behalf of
Johnston Graham Limited
Chartered Accountants
2161218 Holywood Road
Belfast
BT4 1PD
27 September 2022

Page 6
Friends Of The Ulster Museum
Statement of Financial Activities
Year ended 30 June 2022
2022
Unrestricted
funds Total funds Total funds
2021
Income and endowments
Donations and legacies
Charitable activities
Investment income
7,060
3,776
3.185
7.1%0
3,776
3,185
7.600
65
2.664
Total income
14,021
14,021
10.329
Expenditure
Expenditure on charitable activities
Total expenditure
13,641
13,641
13,641
6.007
13,641
6.007
Nel gains on investments
1,537
1.537
2,775
Net income and net movement in funds
1,917
1,917
7,097
Reconclliation of funds
Total funds brought forward
Total funds carried fonvard
114,915
114,915
116,833
107,818
116,833
114,915
The ststement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Thg notes on pages 8 to 13 forni part of these financial statements.

Page 7
Friends Of The Ulster Museum
Statement of Financial Position
30 June 2022
2022
2021
Note
Current assets
Investments
Cash at bank and in hand
13
85.348
31.965
83.239
32.156
117,313
115,395
Creditors: amounts falling due within one yeaT
Net current assets
14
480
480
116,833
116,833
114,915
114.915
Total assets less current liabilities
Net assets
116,833
114,915
Funds ofthe charRy
Unrestricted funds
116,833
114,915
Total charity funds
15
116,833
114,915
These financial statements were approved by the board of trustees and authorised for issue on 27
September 2022. and are signed on behalf of the board by..
Mrs P Blamphin {Chairpersonl
Trustee
Miss M P Macknnt
Trustee
sli (Treasurer)
The note$ on page$ 8 to 13 forni part of these financial statèments.

Page 8
Friends Of The Ulster Museum
Notes to the Financial Statements
Year ended 30 June 2022
General infomiation
The charity 15 a public benefit entity and a registered charity in Northem Ireland and is
unincorporated. The address of the principal Offi￿ is clo Ulster Museum, Botanic Gardens,
Belfast. BT9 SAB.
statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland.. the Statement of
Recommended Practi￿ applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {Charities
SORP (FRS 102)} and the Charities Act (Northern Ireland) 2008.
Accounting policies
Basis of preparatlon
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors, including expectstions
of future events that are believed lo be reasonable under the ¢ir¢umstan¢es.
Fund accounting
Unrestricted funds are available for use at the discreb'on of the trustees lo further any of the
charity's purposes.
Designated funds are unrestricted funds eamiarked by the tnjstees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal, and fall into one of sub-classes.. restricted income funds or
endowment funds.

Page 9
Friends Of The Ulster Museum
Notes to the Financial Statements (c¢inllnued)
Year ended 30 June 2022
Accounting policies (¢otrJtinued)
Incoming resourcgs
All incoming resources are included in the statement of financial activities when enlillemenl has
passed to the charty,. it is probable that the economic benefits associated with the transaction
will flow to the charity and the amount can be reliably measured. The following specific policies
are applied to particular categories of ineome..
income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical lo measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the
accounts when received if the value can be reliably measured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is ¢la$5ffied as unrestricted funds unless there is a conlraclual
requirement for il lo be spent on a particular purpose and returned if unspent, in which case
it may be regarded as ￿$triCted.
ResoU￿eS expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recover&J, and is classified under headings of the statement of
financial activities to which it relates..
expenditure on raising funds includes the costs of all fundraising activities. events,
non-charilable trading activities, and the sale of donated goods.
expenditure on charitable activities indudes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relab'ng to the governance of the charity apportioned to charitsble
activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
All ￿$tS are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable lo a single activity are allocated directly to that activity. Shared costs are apportioned
between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised al the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured al the cash or other
consideration expected lo be paid or received and not discounted.

Page 10
Friends Of The Ulster Museum
Notes to the Financial Statements fcontinuedj
Year ended 30 June 2022
Accounting policies (continuedj
Financial instruments (contlnu8d)
Debt instruments are subsequently measured al amortised cost.
lfvhere investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impaimient.
Other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond nomial business terms or financed at a rale of interest
that is not a market rate, in which case the asset is measured 8t the present value of the future
payments discounted at a market rate of interest for a similar debt inslwment.
other financial instruments are subsequently measured at fair value, wth any changes
recognised in the statement of financial activities. with the eX￿ptIon of hedging instruments in a
designated hedging relationship.
Financial assets that are measured al cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reporbng date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the inits'al gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significant. these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impaimient are recognised immediately. to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the ¢arrying amount would
have been had the impairment not previously been re¢ognised.
Donations and lega¢ie$
Unrestricted Total Funds Unrestricted Total Funds
Funds
2022
Funds
2021
Subscriptions
Subscriptions
Gift Aid
6,012
1,048
7,060
6,012
1,048
7,(￿0
6,422
1,178
7,600
6,422
1,178
7,600
Charftable activities
Unreslricled Total Funds Unreslricled Total Funds
Funds
2022
Funds
2021
NI I UK outings and events
3,776
3,776
65
65

Page 11
Friends Of The Ulster Museum
Notes to the Financial Statements Iconlinved)
Year ended 30 June 2022
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2022
Funds
2021
Bank interest
Dividends re¢eived
25
3.160
25
3,160
3,185
20
20
2,644
3,185
2.664
2,664
Expendithre on charitable activities by fund ty
Unrestricted Total Funds Unreslricled Totsl Funds
Funds
2022
Funds
2021
Charitable activities
Support Costs
9,060
4,581
9,(%0
4,581
13,641
1.500
4.507
1,500
4,507
13,641
6.007
6.007
Expenditure on charitable activities by activity type
Activities
undertaken
directty Support costs
Total funds
2022
Total fund
2021
Charitable activitie5
9,060
4,581
13,641
6,007
Net gains on investments
Unrestri¢ted Total Funds Unreslricled Total Funds
Funds
2022
Funds
2021
Gainslllossesl on listed investments
1,537
1,537
2.775
2,775
10. Independent examination fees
2022
2021
Fees payabte to the independent examiner for.
Independent examinabon of the financial statements
480
11. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as foll¢)ws'.
2022
2021
Wages and salaries
2.687
2,083

Page 12
Friends Of The Ulster Museum
Notes to the Financial Statements fcontinued)
Year ended 30 June 2022
11. Staff costs {eontinued)
The average head count of employees during the year was 1 {2021.' 1)- The average number of
full-tirne equivalent employees during the year is analysed as follows..
2022
No.
2021
Number of staff - administration
No employee received employee benefits of more than £60,000 during the year {2021.. Nill-
12. Trustee remuneration and expenses
During the year, one of the trustees - Deborah Baillie receNed remuneration from the Friends gf
the Ulster Museum for adminislraltve dltlies for the sum £2,68712021: £2,083).
13. Investments
2022
2021
Investments
Cash on deposit wth stockbroker
85.348
77,479
5,760
83,239
85,348
14. Creditors: amounts falling due within one year
2022
2021
Accruals and deferred income
480
480
15. Analysis of charitable funds
Unrestrlcted funds
At
1 July 2021
Gains and
At
losses 30 June 2022
Income Expenditure
General funds
114,916
14,021
{13,641)
1,537
116.833
Gains and
At
losses 30 June 2021
1 Juty 2020
Income Expenditure
General funds
107.818
10,329
16,007}
2.775
114,915

Page 13
Friends Of The Ulster Museum
Notes to the Financial Statements (continued)
Year ended 30 June 2022
16. Analysls of net assets between funds
Unreslricled Total Funds
Funds
2022
cu￿nI assets
Creditors less than 1 year
Net assets
117,313
14801
116,833
117,313
14801
116,833
Unrestricted Total Funds
Funds
2021
Current assets
Creditors less than 1 year
Net assets
115,395
14801
114.915
115,395
14801
114,915

Page 14
Friends Of The Ulster Museum
Management Information
Year ended 30 June 2022
The following pages do not fomi part of the financial statements.

Page 15
Friends Of The Ulster Museum
Detailed Statement of Financial Activities
Year ended 30 June 2022
2022
2021
Income and endowments
Donations and legacies
Subscriptions
Gift Aid
6,012
1.048
6,422
1.178
7,(￿0
7,600
ChariLible activities
NI I UK outings and events
3,776
65
Investment income
Bank interest
Dividends received
25
3,160
3,185
20
2,644
2,664
Total income
14,021
10.329
Expenditure
Expenditure on charitable activities
Wages and salaries
Insurance
Other office costs
Interest on bank loans and overdrafts
Donations and gifts
NI I UK outings and events
Accountancy fees
2,687
470
630
2,083
452
1.243
249
1.500
6,000
3,060
510
480
13,641
6,CK)7
Total expenditure
13,641
6,007
Net gains on investments
Gains on listed investments
1,537
2,775
Net Income
1,917
7,097

Page 16
Friends Of The Ulster Museum
Notes to the Detsiled Ststement of Financial Activities
Year ended 30 June 2022
2022
2021
Expenditurg on charitsble activities
Charitable activities
Activities undertaken directly
Donations and gifts
NI I UK outings and events
6,000
1,500
9,060
1,500
Support costs
Wages & salaries
Insurance
Printing and slalionery
Bank fees
Accountsncy fees
2,687
470
630
2,083
452
1,243
249
480
510
4,581
4,507
Expenditure on charitable activities
13,641
6,007