FAMILYLIFE FOUNDATION FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Notes 2024 20223 Unrestricted funds Totalfunds Total funds Income and endowments Donations and legacies Investment income Other incoming resources 16,261 14 16,261 15.826 26 2Q.&8 Expenditure Expenditure on charitable 8Ctivities 8&9 Total expenditure Net (expenditurellincome and net movement in funds Reconclllatlon of funds Total funds blf Total tunds clf The statement of financial activities included all gains and losses recognized in the year. All income and expenditure derive from continuing activities. The notes on pages 10 to 16 form part of these financial statements. FAMILYLIFE FOUNDATION FINANCIAL STATEM ENTS YEAR ENDED 31 MARCH 2024 Notes 2024 2023 Tot8Lfunds Total funds Fixed Assets 13 606 808 Current Assets C8sh at bank and in hand Prepayments 2,295 10,412 8.295 15,412 Creditors Amounts falling due within 1 year 14 480 Net Current Assets Tot8l assets less cu rrent Ilabilities 8,422 15.741 Net Assets Funds of the cherity Unrestricted funds 15 Tot81 charity funds These financial statements were approved bythe board of trustees and authorized for issue on 12 December 2024, and are signed on behalf of the board by: Prof. C Shaw-Appointed Chair Trustee The notes on pages 10 to 16 form part of these financial statements. FAMILYLIFE FOUNDATION FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 General Informatlon The charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the princip8l office is Duncairn Manse, Duncairn Avenue, Belfast, BT14 6BP. Statement of compllance The financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard 8ppIic8ble in the UKand the Republic of Ireland, the Statement of recommended practice ICh8rities SORP IFRS1021) and the Charities Act {Northern Ireland) 2008. Accountlng Pollcles Bas18 of preparatlon The financial statements have been prepared on th8 hlstorlcal cost basis. as modified by the revaluation of certain financi81 assets and liabilities and investment properties measured at fair value through income or expenditure. The statement8 are prepared in sterling, which is the function8l currency of the entity. Golng concern There are no m8terial uncertainties about the charity's ability to continue. D18closure exemptlon8 The charity has taken advantage of the provisions of the SORP for charltles applylng FRS102 Update BuLletin 1 not to prepare a Statement of Cashflows. Judgements and key sources of estimation uncertalnty The trustees have not made any estimates in preparation of these accounts. Fund Accounting Unrestricted funds are 8v8ilabLe for use 8tthe discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subject to restrictions on their expenditure declared by the donor or through the terms of the appeal and fall into two sub c18sses: restricted incorne funds or endowment funds. 10 FAMILYLIFE FOUNDATION FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Accountlng Policies (contlnued) Incomlng resources All incoming resources are included in the financial activities when entitlement has Passed to the charity: 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 income: 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 falrvalue of th8 goods unless this is impr8CtiC81 to measure reliably, in which c8se the value is derived from the cost to the donor orth8 estimated resale value. Donated facilities and services are recognised in the accounts when receSved 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 contr8Cted services. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on 8n accrual basis 88 a liability is incurred. Expenditure including any VAT which cannot be fully recovered, and 18 classified under headings of the statement of financial activities to which it relates: Expenditure on raising funds includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benef it of its benef icia ries, including those support costs and costs relatingto the governance of the charity apportioned to charitabLe activities. Other expenditure included all expenditure that is neither related to raisingfunds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Sh8red costs are apportioned between the activities they contribute to on 8 reasonable. justifiable and consistent basis. FAMILYLIFE FOUNDATION FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Accounting Policles (continued) Financial Instruments A financial asset or financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received not discounted. Debt instruments are subsequently measured at 8mortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the Investment Is subsequently measured at fair value with ch8nges in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financi81 instruments. including derivatlves, 8re initially recognised at fair value, unless payment for an 8sset is deferred beyond normal business terms or financed at a rate of interest that is not market rate, which case the asset is me8sured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Otherfinancial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities. with the exception of hedging instruments in 8 designated hedging relationship. Fin8ncial assets that are measured at cost or 8mortised cost 8re reviewed for objective evidence of Impairment at the end of each reporting date. If there is objective evidence of Imp8irment, 8n Impalrment loss Is recognised underthe appropriate heading in the statement of financial activities in which the initial gain W8s recognised. Any reversals of impairment 8re recognised immediately. to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Donations and legacies 2024 Unrestricted Total funds Unrestricted funds funds 2023 Total funds Donations Donations and gifts Arclbarron Trust TBF & KL Thompson Souter Charitable Trust 3.761 6,000 6.500 3,761 6,000 6,500 2,325 4,000 6,500 2,325 4,000 6,500 12 FAMILYLIFE FOUNDATION FINANCIALSTATEMENTS YEAR ENDED 31 MARCH 2024 Investment income 2024 Unrestricted Total f unds Unrestricted funds funds 2023 Total funds Bank interest rec'ble Other Incomlng resources 2024 Unrestricted Total funds Unrestricted funds funds 2023 Total funds Generated income Staff Costs The ch8rity made no payments to anytrustee in the current year or previous year. It had no empLoyees duringthe current or precedingfinancial year. Expenditure on charltable activitie8 by fund type 2024 Unrestrlcted Total funds Unrestricted funds funds 2023 Total funds Support Costs Expenditure on charitable activities by activity type 2024 Total funds 2023 Total funds Support Costs Generated income 13 FAMILYLIFE FOUNDATION FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 10 Analysls of support costs Analysis of Support Costs Activity 1 2024 Total 2023 Total Volunteer expenses Missions and ministry costs Donations Bank charges Accountancyfee IT expenses Write off Management fees Depn computer equipment 198 873 3,519 1,195 37 480 325 3,519 1,195 37 480 325 32 480 274 4,774 15,000 22,541 202 22,541 28..2&9 11 Independent examlnatlon fee 2024 2023 Fees payable to th8 independent examlnerfor: Independent examination of the financial statements 48D. 12 Trustee remuneration and expenses No amounts were paid out during the current or previous year. 14 FAMILYLIFE FOUNDATION FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 13 Tanglble Fixed Assets Computer Equipment Cost At 1 April 2023 Additions Disposals 1010 At 31 March 2024 Depreciation At 1 April 2023 Charge foryear Disposal 202 202 At 31 March 2024 404 NBV at 31 M8rch 2024 606 14 Cr•dltor8: Amounts talllng due wlthln one year 2024 2023 Accruals 8nd deferred income 480 15 FAMILYLIFE FOUNDATION FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 15 Analysis of charltable funds At 114123 Income Expenditure At 3113124 General Funds At 114122 Incom8 Expenditure At 3113123 Gener81 Funds 16 Analys18 ot net assets between funds 2024 Totalfunds Unrestricted funds Fixed Assets Current Assets Creditors less than 1 year 606 8.295 -480 606 8,295 2023 Total funds Unrestricted funds Fixed Assets Current Assets Creditors less than 1 year 808 15,412 -480 808 15,412 16