Page 6 Ballybeen Improvement Group Company Limited by Guarantee Ststement of Financial Activities {including incorne and expenditure account) Year ended 31 March 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Notg Incorne and endowments Charilable activities 26.717 44,115 70,832 70.832 89,474 89,474 Total income 26.717 44,115 Expenditure Expenditure on charitable activities Total expendlture 16.795 47,852 64,647 73.201 16.795 47.852 64.647 73.201 Net income and net movement in funds 9.922 (3,737) 6,185 16.273 Reconciliation of funds Total fvnds brought forward Total funds carried forward 18.843 11.030 29.873 13.600 29,873 28,765 7.293 36.058 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notss on pages 8 to 12 fomi part ol these flnanclal 8Litsments.
Page 7 Ballybeen Improvement Group Company Limited by Guarantee Ststement of Financial Position 31 March 2023 2023 2022 Note Current assets Debtors Cash at bank and in hand 628 35.910 4.240 26.409 36.538 30.649 Creditors: amounts falllng due thIft one year Net current assets 480 776 36,058 36.058 29,873 29.873 Total assets less current liabillties Funds of the charity Restricted funds Unrestricted funds 7,293 28,765 36,058 11,030 18.843 29,873 Total charity funds 10 For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companie5 Act 2006 relating to small companies. Directors, responsibilities: The members have not required Ihe company lo obtain an audit of tts financial statements for the year in question in accordance with section 476: The directors acknowledge their responsibilities for comptying with the requirements of the Aci ith respect to accounting records and the preparation of financial stslements. These financial statements have been prepared in accordance with the provisions applicable to companie5 subject to the srnall companies. regime. These financial statements were approved by the board of trustees and authorised for issue on 19 Oecember 2023. and are signed on behalf of the board by." Rev R Mcllhatton Trustee Tho noles on pago8 B to 12 fomi part ofthe80 flnanelal 8tstem8nts.
Page 8 Ballybeen Improvement Group Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 General Informatlon The charity is a public benefrt entty and a privale company limited by guarantee, registe in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Unit 7 Craigleith Drive. Dundonald. Belfast, BT16 2QP. Statement of ¢omp15an¢e These financial ststements have been prepared in compliance wtth FRS 102, The Financial Reporting Standard appliGable in the UK and the Republic of Ireland.. the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charitres SORP (FRS 102)) and the C¢mpanies Act 2006. Accountlng policies Basis of preparatlon The financial statements have been prepared on the historical cost basis. as modtfied by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through incorne or expenditure. The financial statements are prepared in sterling. which is the functional currency of Ihe entty. Going concern There are no material uncertainties about Ihe charity's abilty lo continue. Judgements and key sour¢es of estlmation un¢ertalnty The preparation of Ihe financial statements requires management to make judgernents, estimates and assumptions Ihat affect the amounts reported. These estimates and judgements are continually reviewed an¢J are based on experience and other factors, including expectations of future events that a believed to be reasonable under the circumstances. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees lo furthel any of the charity's purposes. Designated funds are unrestricted funds eamarked by the trustees for particular future projeci or commitment. Restricted funds are subjected to reslriclions on their expenditure declared by the donor or Ihro)Jgh the terms of an appeal, and fall into one of two sub•classes: restricted incorne funds or endowmenl funds.
Page g Ballybeen Improvement Group Company Limited by Guarantee Notes to the FSnancial Ststements f¢onilnued) Year ended 31 March 2023 Accounting policies l¢ontlnuodJ Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed lo the charity; it is probable that the economic benefits associated with Ihe transaction will tlow lo Ihe charity and the amounl can be reliably measured. The following specific policies are applied lo particular categories of income". income from donations or grants is recognised when there is evidence of entillernent to the gfft, receipt is probable and its amount can bè measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is rneasud at Ihe fair value of the goods unless this is irnpraclical to measure reli3bly. in which case the value is derived from Ihe cost to the donor or the estimated resale value. Donated facilities and seNices are recognised in the accounts when received rf Ihe value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of seNices is fecognised with the delivery of Ihe contracted service, This is classified as unrestricted fund5 unless there is a contractual requirement for it to be spent on a particular purpose and returned rf unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accnjals basis as a liability is incurred. Expenditur8 includes any VAT which cannot be fully recovered, and is classified under headings of the staternenl of financial aGlivilies to which il relates: expendtlure on raising funds includes the Costs of all fundraising activities. events, non<harilable trading activities. anrj Ihe sale of donated goods. expenditure on charitable activities includes all costs incurred by a charty in undertaking activities that further ils charitable airns for the benefit of ts beneficiaries. including those support costs and costs relating to the governance ol the charity apportioned t¢ charitable a¢tivities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Dit costs attributable to a single activity are allocated directly to Ihat aclivty. Shared costs are apportioned beeen the activities they conlribute lo on a reasonable, justifiable and consistent basis. Financial Sn5trum8nts A financial asset or a financial liability is recognised onty when the charity becomes a paty to the contradual provisions of the instrunt. Basic financial instruments are initially recognised at the amount receivable or payable including any felated transaction costs.
Page 10 Ballybeen Improvement Group Company Limited by Guarantee Notes to the Financial Statements (¢ontlnuedJ Year ended 31 March 2023 Accounting policies (contlnuod) FiTrancial instruments f¢ontlnuedJ Current assets and current liabilities are subsequently measured al the cash or olher consideration expected to be paid or received and not discounted. Debt instruments are subsequenlly measured at amortised cost. ltyhere 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 tair value recognised in income and expenditure. All other such investments are subsequentty measured at cost less impairment. Other financial instrurnen15, including derivatives, are initially recognised al fair value, unless payment for an asset is deferred beyond nonnal business terms or financed at a rate of interest that is not a market rate. in which case the asset is measured at the present value of Ihe future payments discounted at a market rate of Inte$t for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities. with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reportin9 date. If there is objective evidence of impaimient, an impairmenl loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instwrnents regardless of significance, and other financial assets that are individually significant, Ihe5e a assessed individually for impairment. Other financial assets are either assessed ind5vidually or grouped on the basis of similar credit risk characteristics. Any revetsals of impaim)ent are recognised immediately, to the exient Ihal the reversal does not resutt in a carrying amount of the financial asset that exceeds what the carying amount would have been had Ihe impaimient not previously been reco9nised. harltable acllvltles Unrestricted Funds Restrided Totsl Funds Funds 2023 Community Suport Community Facilities Srnall Capital Grants Festivals Other income DFC Covid Grants Other Grants Gotsj Relations Pitch Income 3.500 3.500 3,450 3.450 2.019 32.143 2.019 32,143 2.510 2.512 2.510 2.512 24.698 24.698 26.717 44,115 70.832
Page 11 Ballybeen Improvement Group Company Limited by Guarantee Notes to the Financial Ststements (conllnuedj" Year ended 31 March 2023 Charftable activities (¢ortUnue Unrestricted Funds Restricted Total Funds Funds 2022 Community Suport Community Facilities Small Capital Grants Festivals Olher income 4,730 10.000 3,479 2,560 4,730 10,000 3,479 2,560 DFC Covid Grants Other Grants Good Relations Pitch Income 28.094 2,333 11,990 3,750 28,094 2,333 13.390 3,750 21.138 89,474 1,400 21.138 22.538 66,936 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Fund5 2023 Running costs 16.795 47.852 64,647 Unrestricted Funds Restricted Total Funds Funds 2022 Running costs 14,216 58.985 73.201 Expendlture on ¢haritable activitles by actlvlty type Activities undertaken Total funds directty 2023 Total fund 2022 Running costs 64,647 64,647 73,201 Trustee remuneration and expenses None of the trustees re*ived any remuneration during the year. Debtors 2023 2022 Trade debtors Prepayments and accrued income 628 4,000 240 628 4,240
Page 12 Ballybeen Improvement Group Company Limited by Guarantee Notes to the Financial Statements (contlnu•d) Year ended 31 March 2023 Creditors: amounts falling due within one year 2023 2022 other credtiors 480 776 10. Analysis of charitable funds Unrestricted funds At 31 March 202 At 1 April 2022 Income Expenditure General funds 18,843 26,717 {16,795) 28,765 At 31 March 202 At 1 April 2021 Income Expenditure General funds 10.521 22,538 (14.216) 18,843 Restricted funds At 31 March 202 At 1 April 2022 Income Expendilure Restrided Fund 11,030 44.115 (47,852) 7,293 At 31 Mar¢h 202 At 1 April 2021 Income Expenditure Restricted Fund 3.079 66.936 {58.985) 11.030 11. Analysis of net assets between lunds Unrestricted Funds Restricled Totsl Funds Fund5 2023 Current assets 28,765 7.293 36,058 Unrestricted Funds Restricted Total Funds Funds 2022 Current assets 18,843 11.030 29.873