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 rneasu￿d 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