Company registration number N1031998 {Northern Ireland) Charity registration number NIC101565 {Northern Ireland) BALLYSILLAN COMMUNITY INITIATIVES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
BALLYSILLAN COMMUNITY INITIATIVES LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr W M McAlister Mrs D R Rodgers Ms L Rodgers Mr D Rodgers H Haddick Country of incorporation United Kingdom (Northern Ireland) N1031998 Charity registration Northern Ireland NIC101565 RegiSted office 82 Ballysillan Park Belfast BT14 8HB Independent examiner Miscampbell & Co 6 Annadale Avenue Belfast BT7 3JH
BALLYSILLAN COMMUNITY INITIATIVES CONTENTS Page Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 6-11
BALLYSILLAN COMMUNITY INITIATIVES TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 28 FEBRUARY 2025 The trustees present their annual report and financial statements for the year ended 28 February 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Igoveming document], the Companies Act 2006 and "Accounting 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 (FRS 102)" (effective 1 January 2019). Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Dire¢tors' Report) Regulations 2013 has been omitted. Objectives and activities The primary purpose of the company is to support regeneration of the area and support charitable organisations. The Trust will continue to promote and carry out housing development within the Ballysillan area. The objectives of the company are aGhieved by local scrutiny and assessment of local issues pertinent to the activities of the company. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. Activities The main activities of the company assist us in providing financial and other support to those within our remit be it providing prompt access to funds or Community support. The charity has made a number of donations to organisations within the Ballysillan area, the major ones are noted under the Review of Activities below. The charity will continue to undertake these activities to achieve its purpose for the public benefit. Achievements and performance Significant activities and achievements against objectives The main achievement of the company is the ability to make funding decisions very quickly allowing much needed funds to be available quickly preventing facilities and services from being lost in the community. The charity continues to make donations to several organisations. Two charity donations were made in the year, totalling £50,100. Flnancial review Going concem a. Going Concern After making appropriate enquiries. the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. ReseNes policy b. Reserrfes policy At this stage in the development of the company, it operates with very limited resources. The Trustees do not consider a reserves policy is necessary. Structurei governance and management The charity is a charitable company limited by guarantee and was set up by a Memorandum of Association.
BALLYSILLAN COMMUNITY INITIATIVES TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025 The trustees, who are also the directors for the purpose of company law, and who served during theyear and up to the date of signature of the financial statements were: Mr W M McAlister Mrs D R Rodgers Ms L Rodgers Mr D Rodgers H Haddick Recruitment and appointment of trustees The management of the company is the responsibility of the Trustees, who are elected are co-opted under the terms of the Memorandum of Association. Potential directors of the company are considered by the Board. Primarily, this review considers whether the prospective member will help the company meet its aims and objectives. Applicants considered suitable are invited by the Chairman to join the Board. Each Board mernber is also appointed as a director. Those serving as directors are invited by the existing Board of Directors on the grounds of their proven ability, relevant experience and personal interest in the work of the Foundation. There are no schemes of training directors in advance of their appointment. Organisational structu The Board are responsible for bringing through a broad outline of the strategies that will be pursed to achieve the policies and objectives of the company The Board are responsible to ensure that the strategic plan is consistent with the policies and objectives and to sign off on that strategic plan Funds held as Custodian trustee No funds are held as custodian on behalf of others. The trustee rep as approved by the Board of Trustees. Mr D Rodgers Trustee 27 November 2025
BALLYSILLAN COMMUNITY INITIATIVES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BALLYSILLAN COMMUNITY INITIATIVES I report on the financial statements ofthe charity for the year ended 28 February 2025, which are sel out on pages 4 to 11. Responsibilities and basis of report As the charity trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation ofthe financial statements in accordance with the requirements ofthe Companies Act 2006. report in respect of my examination of the Charity's financial statements carried out under the Charities Act (Northern Ireland) 2008. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under the Charities Act (Northern Ireland) 2008. Independent examiner's statem8nt I have examined your company accounts as required under section 65 of the Charities Act and my examination was Carried out in a¢cordan¢e with the general Directions given by the Charity Commission for Northern Ireland under section 65{9)(b) of the Charity Act. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. the financial statements do not comply with the accounting requirements of section 386 of the Companies Act 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or the financial statements do not accord wth those records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination- or the financial statements have not been prepared in accordance with the methods and principles of the statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no ¢oncems and in following the Directions of the Charity Commission For Northern Ireland, I have Come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Patrick Mls¢ampbell FCA Miscampbell & Co 6 Annadale Avenue Belfast BT7 3JH Dated: 27 November 2025
BALLYSILLAN COMMUNITY INITIATIVES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 28 FEBRUARY 2025 Unrestricted funds 2025 Unrestricted funds 2024 Notes Income from: Investments 14,054 15,391 Total income 14.054 15,391 Expenditure on: Charitable activities 10,359 58,284 Total expenditure 10.359 58,284 Net gainsl{losses) on investments 15,088 3,569 Net incomel(exp&nditure) and mov8ment in funds 18,783 (39,324) Reconciliation of funds: Fund balances at 29 February 2024 554,440 593,764 Fund balances at 28 February 2025 573,223 554,440 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from Continuing activities.
BALLYSILLAN COMMUNITY INITIATIVES BALANCE SHEET AS AT 28 FEBRUARY 2025 2025 2024 Notes Current assets Debtors Investments Cash at bank and in hand 12 13 1,174 541,823 34,301 2,020 524,607 31,618 577,298 558,245 Creditors: amounts falling due within one year 14 (4,075) (3,805) Net current assets 573,223 554.440 The funds of the charity Unrestricted funds 15 573,223 554.440 573,223 554,440 The company is entitled to the exemption from the audit requirement contsined in section 477 of the Companies Act 2006, for the year ended 28 February 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial atem s were approved by the trustees on 27 November 2025 Mr D Rodgers Trustee
BALLYSILLAN COMMUNITY INITIATIVES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Accounting policies Charity informatlon Ballysillan Community Initiatives is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 82 Ballysillan Park, Belfast, BT14 8HB. The principal aclivity of the company continued to be for charitable purposes, for the promotion and development of housing within the Ballysillan area. 1.1 Basis of preparation The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting 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 (FRS 102)" The Charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for Charities not to prepare a statent of cash flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the histori1 cost convention. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial ststements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted fund5 are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the harity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is re¢ognised at the time ofthe donation. Legacies are recognised on receipt or otherwise if the ¢hartty has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
BALLYSILLAN COMMUNITY INITIATIVES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a Iransfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each aclivity are made up of the total of dirert costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation Charges are allocated on the portion of the asset's use. 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.7 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contraGtual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, whi¢h include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaGtion price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as ¢urrent liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
BALLYSILLAN COMMUNITY INITIATIVES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025 Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the Carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and futu periods. Income from investments Unrestricted Unrestricted funds funds 2025 2024 Other income 14,054 15,391 Expenditure on charitable activities Unrestricted Unrestricted funds funds 2025 2024 Share of support and governance costs (see not8 5) Support Governance 1,945 8,414 50,157 8,127 10,359 58,284 Analysis by fund Unrestricted funds 10,359 58,284 Support costs allocated to a¢tlvltles Total 2025 Total 2024 Charitable Donation Bank Fee Governance 1,900 45 8,414 50.100 57 8.127 10,359 58,284
BALLYSILLAN COMMUNITY INITIATIVES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025 Support costs allocated to activities (Continued) Fees payable to the company's independent examiner for the independent examination of the company's annual accounts £2,100 {2024'. £1,980). Fees payable to the company's independent examiner in respect of other services £114 (2024.. £294). Net movement in funds 2025 2024 The net movement in funds is stated after chargingl(crediting)- Fees payable to the charity's independent examiner-. for the independent examination of the charity's financial statements for other financial services 2,100 114 1,980 294 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Trustees There were no employees whose annual remuneration was more than £60.000. Galns and losses on investments Unrestricted Unrestricted funds funds 2025 2024 Gainsl(losses) arising on.. Sale of investments 15,088 3,569 10 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 11 Financial instruments 2025 2024 Carrying amount of financial assets Instruments measured at fair value through profit or loss 541.823 524,607
BALLYSILLAN COMMUNITY INITIATIVES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025 {Continued) 11 Financial instruments Financial assets measured at fair value through income and expenditure comprise ¢ash held in bank and value at cost of unlisted investments. 12 Debtors 2025 2024 Amounts falling due within one year: other debtors 1,174 2,020 13 Current asset investments 2025 2024 Unlisted investments 541,823 524,607 Current asset investments are recorded at the portfolio's book cost. The market value of current investments at 28th February 2025 were £616,565 (2024.. £582,528). 14 Creditors: amounts falling due within one year 2025 2024 Accruals and deferred income 4,075 3,805 15 Unrestricted funds The unrestri¢ted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At29 February 2024 Incoming resources Resources expended Gains and At28 lossesFebruary 2025 General funds 554.440 14,054 (10,359) 15,088 573,223 Previous year: At28 February 2023 Incoming resources Resources expended Gains and At28 losses February 2024 General funds 593,764 15,391 (58,284) 3,569 554,440 10-
BALLYSILLAN COMMUNITY INITIATIVES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025 16 Analysis of net assets between funds Unrestricted funds 2025 At 28 F8bruary 2025: Current assetsl{liabilities) 573,223 573,223 Unrestricted funds 2024 At 28 February 2024: Current assetsl{liabilities) 554,440 554,440 17 Related party transactions There were no dis¢losable related party transactions during the year (2024 - none). 11