BELFAST LOUGH SAILABILITY
STATEMENT OF FINANCIAL ACTIVITY (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
for the year ended 31 December 2023
Note
Unrestricted
Funds
Restrirted
Funds
Total
2023
Total
2022
Income from:
Donations and legacies.
Charitable Activities
Investment Incorrfe
Other Income
50,945
50,945
16,119
16,581
61
141
151
3,727
151
3.727
Total Income
63,954
63,954
32,902
Expenditure on:
Charitable activities
48,462
48.462
37,235
Total Expenditure
48,462
.48,462
37,235
Net Income
15,492
15,492
(4,333}
Net movement in funds
Funds brought forward
15,492
153,176
15.492
.153.176
(4,333)
157.509
Funds carried lorward
15
168,668
168,668
153,176
All income and expenditure derive from continuing activities.
The statement of financial activities includesall gains and losses recognised duringthe year.

BELFAsf LOUGH SAILABILrrY
BALANCE SHEEr
As at 31 Deomber 2023
Note
2023
2022
Fixed A55ets
Tangible Ftx.ed Assets
Totsl flxed assets
I14￿08
124.908
125,130
125,130
Current Assets
.Cash and cash equiyalents
Total curr.Ent 3S5ets
44.600
44,600
28,886
28,886
Creditors: amounts falling due withln one yeBr.
Total Creditor5
14
840
840
A40
840
Net Current A55ets
43,760
28.046
Total Net Assets
168.658
153,176
Funds of the charlty
Unrestricted funds
General funds
Total tharity fvnds
15
168.668
168.668
153,176
153,176
These financial ststements were 3pproved by the board of trustee5 and authori5ed for issue on 27
March 2024 and are si&ned on behalf of the board by:
Mrs A Taylor
Trustee
Mr DTodd
Tnkstee
The notes on pages 13. to 24 form part of these financial statements.

BELFAST LOUGH SAILABILITY
NOTES TO THE Accou￿[5
for the year ended 31 December 2023
I. ACCOUNTING POLICIES
General information
The charity constitutes a public benefit entity as defined by FRS 102. The address of the principal office
is Marina Buildin& 3 Quayside, Carrickfergus: Co Antrim, BT38 8BE.
Statement of compliance
The financial statements have been prepared in accordance with the accounting policies set out in
notes to the financial statements and applicable accounting standards. Account.ing and Reporting by
Charities: 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 issued
in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland IFRS 102 Section IA), the charity's governing document, the Chartties Act (Northern Ireland}
2008, Charities Act. (Northern Ireland) 2013., The Charities (Accounts and Reports) Regulations (Northern
Ireland} 2015, and UK Generally Accepted Practice.
The financial statements are prepared on a going concern basis underthe historical cost convention.
The financial statements are prepared in Sterling which is the functional currency of the charity rounded
to the nearest £1.
The significant accounting policies applied in the preparafion of these financial statements are set out
below. The trustees consider that these pulicies are suitable have been consistently 3pplted and are
supported by reasonable and prudentjudgements and estimates.
FUND ACCOUNTING
The charity has various types of fundsfor which il is responsible, and which require separate disc105ure.
A definition of the various types of funds is as follows.,
Restricted funds comprise {aJ income from endowments which is to be expended only on the restricted
purposes intended by the donor and (b) revenue donations or grants for a specific charitable activity
intended by the donor. Where these funds hav.e unspent balances. interest on their pooled investment
is apportioned to the individual f.unds on an average balance basis.
131 Page

BELFAST LOUGH SAILABIUTY
NOTES TO THE ACCOUNTS (conVd}
31 December 2023
Unrestricted funds are funds which are expendable at the discretion of the Charity in furtherance of its
objectives. In addition to expenditure on activities such funds may be held in order to finance capital
investment and working capital.
Designated funds are genetal funds set aside by the trusteesfor use in.the future.
INCOMING RESOURCES
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is
legally entitled to the income after any performance conditions have been met, the amount can be
measured reliably,.and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement
date in writing. If ther.e are conditions attached to the don3tion and this requires a level of performance
before entitlement can be obtained, then income is deferred until those conditions are fully met or the
fulfilment of those conditions is Within the control of the charity, and it is probable that they will be
fulfilled.
Voluntary income received by way of donations and gift is credited to revenue on a receivable basis.
The charity receives grants in respect of support services. Income from governmentand other grants are
recognised at fair value when the charity has entitlement after any PErformance conditions have been
met, it is probable that the income will be received, and the amount can be measured reliably.
If entitlement is not meL then these amounts are deferred. Revenue grants are credited to incoming
resources on the earlier date of when they are received or when they are receivable unle55 they relate
to a specified future period.
Other inco.me represents income that cannot be reported under the other analysis headings provided
within the SOFA.
Incoming resources with related expend iture
Where incoming resources have related expenditure13S Wlth insurance proceeds) the incoming
resources and related expenditure ale reporLed gross in the SDFA:

BELFAsf LOUGH SAILABILrrY
NOTESTO THE ACCOUNTS {conVd)
31 December 2023
Grants and donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to
the resources.
Tax reclaims on donations and gifts.
Incoming resources from tax reclaims are included in the SOFA at the same time as th.e giftto which they
relate,
{iv)
Contractual income and performance related grants
This is only included in the SOFA once the related goods or services have been delivered.
(v)
Gifts in kind
Gifts in kind are accounted for at a reasonable estimate of their valueto the charity or the amount
actually realised. Gifts in kind for sale or distribution are included in.the accounts as gifts only when sold
or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming
resources when receivable.
(vi)
Donated services and facilities
These are only included ill incoming resources (with an equivalent amount in resources expended)
where the benefit.to the charity is reasonably quantifiable, measurable and material. The value place on
these resources is.the.estimated value to the charity of the service or facility receiv.ed.
(vii) Investment income
This is included in the accounts in the period to which it relates.
(viii) Investment gains and losses
This includes any gain or loss on the sale of Investments and any gain or loss resulting from revaluing
investments to market value at the end of the year.
EXPENDITURE AND UABILITIES
All expenditure is accounted for on an accruals basis and ha5 b.een classified under headings that
aggregate all costs related to the.category. It is categorised under the follawing headings:
Expenditure on charitable activities comprises those costs incurred by the charity in the delivery
of it5 acttvities and services for its beneficiaries and includes salary costs. support service
expenses, and an apportionmerrt of support COStS;
Other expenditure representsthose items not falling into the categories above.
151 Page

BELFAST LOUG H SAILABILITY
NOTES TO THE ACCOUNTS (conyd)
31 December 2023
Liability recognition
Liabilities are recognised where there is a legal or constructive obligation to make payments to third
parties, it is probable that the settlement will be reqLJired, and the amount of the obligation can be
measured reliably.
Governance costs
These are shown within charitable activities and include the costs of preparation and examination of
accounts, the costs of trustee meetings and cost of any le&al advice to trustees on governance or
constitutional matters.
Grants with perfOrMan￿.cOnditlOnS
Where the charity gives a.grant with conditions for its payment being a specific level of service or output
to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided
the specified service or output.
(iv)
Grants payable without performance conditions
These are only recognised in the accounts when a commitment has been made and there are no
conditions to be met relating to the grant which remain in the control of the charity.
(v)
Support costs
Support costs are those that.as5iSt the work of the charity but do not directly represent charitable
activities and include ofFice costsj govemance costs and administrative payroll costs.
They are incurred directly in s.upport o.f expenditure on the objects of the.charity. Where sUPPOrt costs
cannot be directly attributed to particular headings, they have been allocated to rost of raising funds
and expenditure on charitable activities on a basis consistent with use ofthe resources. Premises
overhead5 have been allocated on a basis consistent with the use of the resources. Staff costs and
other overheads have been allocated based on time spent, per capita and act.ivity.
Employee benefits
When employees have rendered service to the charity, sholt-term employee benefits to which the
employees are entitled are recognised 3t the undiscounted amount expettedto be paid ITr exchange for
that Service.
Value Added Tax
The charity is not registered for VAT purposes. therefore expenditure is shown gr055 of VAT.
161 Page

BELFAST LOUGH SAILABILITY
NOTES TO THE ACCOUTrtTS (cont'd)
31 December 2023
ASSETS
Tangible Fixed A55ets
The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition.
Depreciation is calculated so. as to write off the £ost of tangible fixed assets, less their estimated residual
value5, on a straight-line basis over the expected useful economic lives of the assets concerned. The
principal annual rates used are as follows:
Equipment
IO% Reducing balance
In accordance with FRS102. assets under coThstruction are not depreciated until such time5 as they are
available for use.
Where the recoverable aniount of a fixed asset is found to be below it5 net bookvalue, the a55et is
written down to.the recoverable figure and the loss on impairment.is recognised in the SOFA,
Investments
Investments quoted on a recognised stockexchange are valued at market value at the year end. Other
investment assets are included at trustees. best estimate of market value:
Leases
Rentals payable under operating leases are charged to the SQFA on a straight-line basis over the period
of the lease.
Tax
The charity benefits from various exemptions afforded by tax legislation. It is therefore not liable to
corporation tax on income or gains falling.due within those exemptions. Recovery is made of tax
deducted from receipts under. gift aid.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no
material uncertainties exist. The trustees have considered the level of funds held and the expected level
of income and expenditure for 12 months from authorising these financial statements. The budgeted
income and expenditure are sufficient with the level of reserves for the charity to be able to continue as
a going concern.
Judgements and key sources of estimation uncertainty
The following judgements including thos.e involving estimate5 have been madE in the process of
applying the above accounting policies that have had the most significant effect on the aTnounts
recognised in the financial statements and that have a significant risk of causing a material adjustment
to the carrying amounts of ass.ets and liabilities within the next financial year:

BELFAST LOUG H SAILABILITY
NOTES TOTHE ACCOUTrtrs (convd)
31 December 2023
depreciation method and asset useful lives
The estimates and assumptions are reviewed on an ongoing basis considering the current and future
market conditions.
2. DONATIONS AND LEGAaES
Unrestricted
Fund5
Restricted
Funds
Total
2023
Total
2022
Donations
Other Donations
Black Santa Donation
31,732
1,000
31,732
1,000
3,644
750
Grants
Funding
18,213
18,213
11,725
50,945
16,119
3. CHARITABLE AcfiviTIES
Unrestricted
Funds
Restricted
Funds
Totsl
2023
Total
2022
Member5hiy
Group Visit
RTC Course Fees
Events
Presidents Cup
T-shirts
1,208
1,063
40G
6,380
1.208
1,063
400
6,380
1298
1,479
996
1,980
10,798
16,581
18 | Page

BELFASf LOUGH SAILABILITY
NOTESTOTHE ACCOUNTS {conVd)
31 December 2023
4. INVESTMENT INCOME
Unrestricted
Funds
Restricted
Funds
Total
2023
Total
2022
Bank Interest Receivable
151
151
61
151
151
61
5, OTHER INCOME
Unrestricted
Funds
Restricted
Funds
Total
2023
Total
2022
Gain on disposal of tangible fixed
assets held for charitvs own use
3,727
3,727
141
3,727
3,727
141
6. STAFF COSTS
Staff costs for the £urrent and preceding financial years were £Nil.
19 Ipage

BELFAST LOUGH SAIL4BILITY
NOTES TO THE ACCOUNTS (cont'd)
31 December 20Z3
7. EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted
Funds
Restritted
Funds
Total
2023
Total
2022
Charitable Activities
Support Costs
5,357
43,105
43.105
29,905
48,462
48,462
37,235
8. ANALYSIS OF SUPPORT COSTS
Unrestricted
Funds
Restricted
Funds
Total
2023
Total
2022
General Office
Training
CSC Cost5
Insurance
Repair5 & Mainter¥ance
Accountancy fees
Fuel Costs
Bank Charges
Subscriptions
Deprecation
1,152
783
2,848
5,716
16,482
1,152
783
2,848
5,716
16,482
840
1,327
47
365
13.545
1,631
640
1,760
4,978
4,768
840
1,095
45
245
13,906
1,327
47
365
13,545
43,105
43,105
29,908
20 | Pagye

BELFAST LOUGH SAILABILITY
NOTESTO THE ACCOUNTS (convd)
31 December 2023
9. NET EXPENDITURE
Net Expenditure is stated after charging/(crediting)".
Total
2023
Total
2022
Depreciation of tangible fixed assets
Gains on Disposal of tangibje fixed asset5
13,545
(3,727)
13,906
{141)
9,818
13,765
10. INDEPEND.ENT EXAMINATION.FEES
Total
2023
Total
2022
Fees payable to independent examiner for:
Independent examination of the financial statements
840
840
11. TRUSTEES REMUNERAT.ION AND EXPENSES
The Trustees received no remunerationfrom the charity during the current or preceding financial years.
12. TAXATION
The charity is entitled to certain tax exemptions on income and profits from investments, and surpluses
on any trading activities carried out in the furtherance of the charity's primary objectives, if these profits
and surpluses are applied solely for charitable purposes. The charity is not registeredfor VAT and,
accordingly, all their expenditure is inclusive of any VAT incurred.
211 Page

BELFAST LOUGH SAILABILITY
NOTESTO THE ACCOUNTS (convd)
31 December 2023
13. TANGIBLE FIXED ASSETS
Fixtures
& Fittings
Cost
At beginning o.f the year
Additions
Disposals
At end of the year
253,556
30,063
(31,5001
252,119
Depreciation
At beginning of the year
Depreciation
Disposals
At end of the year
128,426
13,545
(14,760)
127,211
Net book value.at beginning of the year
Net book value.at end of the year
.125,130
124,908
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Total
2023
Total
2022
Accruals & Deferred income
840
221 Pag

BELFAST LOUGH SAILABIUTY
NOTESTO THE ACCOUNTS (convd)
31 December 2023
15. FUND BALANCES
Funds 2023
Balance at
start
Income Expenditu Surplus / Transfer
re
(Deficit)
Balance
at end
Unrestricted Funds
General fund
Designated Funds
60,227
3,727
69,025
109.461
(13,545) (9,818)
Total
153,176
63,954
(48,462)
15,492
168,668
Funds 2022
Balance at
start
Income
Expenditu Surplus / Transfer
re
(Deficit)
Balance
at end
Unrestricted Funds
General fund
Designated FUl￿S
34,283
123.226
32,761
141
(23,329)
9,432
(13,906) (13.765.)
43,715
109,461
Total
157,509
32,902
(37.235) (4 333)
153,176
231 Page

BELFAST LOUGH SAtLABILITY
NOTES TO THE ACCOUNTS (convd)
31 December 2023
16. ANALYSIS OF NEfASSETS BEfwEEN FUNDS
Unrestrirted Restricted Funds
Funds
Total
2023
Fixed Assets
Net Current Assets
124,908
43,760
124,908
43,760
168,668
168,668
Unrestricted Restricted Funds
Funds
Total
2022
Fixed Asset5
Net Current Assets
125,130
28,046
125,130
28,046
153,176
153,176
17. FINANCIALCOMMITMENT
No contracts had been placed for future capital expenditure atthe balance sheet date
18. ETHICAL STANDARDS
In common with many other Drganisations of our size and nature, we use our independent examiner to
prepare and assist in the preparation of the financial staternents.
19. RELATED PARTIES
There were no related party transactions durtng the year (2022: £Nil}.
241 Pdge