IRFU Charitable Trust (Northern Ireland)
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30 April 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Totalfunds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies Investment income |
5 6 |
_ -- |
3,422 - |
3,422 - |
3,592 - |
| Other income | 7 | - | 856 | 856 | 1,458 |
| Total income | - | 4,278 | 4,278 | 5,050 | |
| Expenditure | |||||
| Expenditure on charitable activities | 7,8 | ~ | 926 | 926 | 926 |
| Total expenditure | _ | 926 | 926 | 926 | |
| _ | |||||
| Net income/(expenditure) and net | |||||
| movement in funds | — | 3,352 | 3,352 | 4,124 | |
| Reconciliation offunds | |||||
| Total funds brought forward | 1,327 | 31,619 | 32,946 | 28,822 | |
| Totalfundscarriedforward | 1,327 | 34,971 | 36,298 | 32,946 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 11 form part of these financial statements.
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IRFU Charitable Trust (Northern Ireland)
Company Limited by Guarantee
Statement of Financial Position
30 April 2025
| 2024 | 2023 | |||
|---|---|---|---|---|
| Current assets | Note | £ | £ | £ |
| Debtors Cash at bank and in hand |
12 | 7,870 30,230 |
4,501 29,345 |
|
| 38,100 | 33,846 | |||
| Creditors: amounts falling due within one year | 13 | 1,802 | 900 | |
| Net current assets | 36,298 | 32,946 | ||
| Total assets less current liabilities | 36,298 | 32,946 | ||
| Net assets | 36,298 | 32,946 | ||
| Funds ofthe charity | ||||
| Restricted funds Unrestricted funds |
34,971 1,327 |
31,619 1,327 |
||
| Totalcharityfunds | 14 | 36,298 | 32,946 |
For the year ending 30 April 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities:
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¢ 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;
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° The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
These financial statements were approved by the board of trustees and authorised for issue on 31 December 2023, and are signed on behalf of the board by:
I Mr T M Ringland Director
The notes on pages 6 to 11 form part of these financial statements.
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IRFU Charitable Trust (Northern Ireland)
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 April 2025
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in N,lreland and a registered charity in Northern Ireland. The address of the registered office is C/O Ulster Branch IRFU, 85 Ravenhill Park, BELFAST, BT6 ODG.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
- Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in Sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
No significant estimates or judgements have had to be made in the compilation of the financial statements.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the directors for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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IRFU Charitable Trust (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (continuea)
Year ended 30 April 2025
- Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of 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.
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° legacy income is recognised when receipt is probable and entitlement is established.
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° income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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° income from contracts for the supply of services is recognised with the delivery of the contracted service. 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 an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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° expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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— expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, inciuding those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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° 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. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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IRFU Charitable Trust (Northern Ireland)
Company Limited by Guarantee
Notes to the Financial Statements (continueg)
Year ended 30 April 2025
6. investment income
| Restricted | Total | Funds | Restricted | Total | |||
|---|---|---|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | ||||
| £ | £ | £ | £ | ||||
| Bank | interest | receivable | - | - | - | - |
- Other income
| Restricted | Total | Funds | Restricted | Total Funds | |
|---|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| GiftAid | 856 | 856 | - | 1,458 | |
| Expenditure on charitable activities by fund type | |||||
| Restricted | Total | Funds | Restricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | ||
| g | £ | £ | £ | ||
| Player support | - | - | - | - | |
| Support costs | 926 | 926 | 926 | 926 | |
| 926 | 926 | 926 | 926 | ||
| Expenditure on charitable activities by activity type | |||||
| Activities | |||||
| undertaken | Support | Total funds | Total fund | ||
| directly | costs | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Player support | - | - | - | - | |
| Governance costs | 926 | 926 | 926 | 926 | |
| 926 | 926 | 926 | 926 |
-
Expenditure on charitable activities by fund type
-
Expenditure on charitable activities by activity type
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IRFU Charitable Trust (Northern Ireland)
Company Limited by Guarantee
Notes to the Financial Statements (continueg)
Year ended 30 April 2025
10. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Nil | Nil | ||
| The average head count of employees during the yearwas 1 (2022: 1). The average full-time equivalentemployees during the year is analysed as follows: |
number | of | |
| 2025 | 2024 | ||
| No. | No. | ||
| Numberofstaff | 1 | 1 |
There were no persons employed by the charity during the year.
No employee received employee benefits of more than £60,000 during the year (2025: Nil).
11. Trustee remuneration and expenses
The Trustees of the charity received no remuneration during the year.
| 12. | Debtors | ||||||
|---|---|---|---|---|---|---|---|
| 2024 | 2023 | ||||||
| £ | £ | ||||||
| Otherdebtors | 7.870 | 4,501 | |||||
| 13. | Creditors: amounts falling due within | one year | |||||
| 2024 | 2023 | ||||||
| £ | £ | ||||||
| Accruals and deferred income | 1,802 | 900 | |||||
| 14. | Analysis of charitable funds | ||||||
| Unrestricted funds | |||||||
| At | At | ||||||
| 1 May 2024 | income | Expenditure | 30 April 2025 | ||||
| Unrestricted Fund | - General funds | £ 1,327 |
£ | - | gE _ |
£ 1,327 |
|
| At | At | ||||||
| 1 May 2023 | Income | Expenditure | 30 April 2024 | ||||
| Unrestricted Fund | -Generalfunds | £ 1,327 |
£ | _ | £ - |
£ 1,327 |
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IRFU Charitable Trust (Northern Ireland)
Company Limited by Guarantee
Notes to the Financial Statements (continuea)
Restricted funds Year ended 30 April 2025
| At | At 30 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | May 2024 | Income | Expenditure | April 2025 | ||||||
| £ | £ | £ | £ | |||||||
| Restricted | Fund | - | Player | Support | fund | 31,619 | 4,278 | (926) | 34,971 | |
| At | At | |||||||||
| 1 | May 2023 | Income | Expenditure 30 April 2024 | |||||||
| £ | £ | £ | £ | |||||||
| Restricted | Fund | - | Player | Support | ||||||
| fund | 27,495 | 5,050 | (926) | 31,619 |
15. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Current assets Creditors less than 1 year |
1,327 - |
36,773 (1,802) |
38,100 (1,802) |
| Net assets | 1,327 | 34,971 | 36,298 |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Current assets Creditors less than 1 year |
1,327 _ |
32,519 (900) |
33,8462 (900) |
| Netassets | 1,327 | 31,619 | 32,946 |
16. Financial instruments
No transactions occurred requiring disclosure under the financial instruments regulations.
17. Related parties
The company is owed £7,014 from the Irish Rugby Union Charitable Trust (2024: £3,592), its Counterpart in the Republic of Ireland.
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