The Friends of Loreto College Coleralng
Annual Report and Unauditsd Flnancial Statsments
for the financial year ended 31 March 2024
Quarter Chartered Accountant8
st Anne's Houge
15 Church Streèt
Cathedral Quarter
Belfast
BT1 1PG
Charlty Number: 103054

The Friends of Loreto College Coleralne
CONTENTS
Page
Reference and Administrative Information
Trustees, Report
Independent Examinerfs Report
Financial Statements
Notes to the Flnancial Statements
Supplementary Infomation relating to the Financial Statements
10-12

The Friends of Loroto College Coleraine
REFERENCE AND ADMINISTRATIVE INFORMATION
Trustaes
Daniel Henry
Paul Mullan (Resigned 24 April 2023)
Sarah Egan (Resigned 24 April 2023)
Michael James
Susan Kelly
Belinda Toner
Stephen Gallagher (Appointed 24 April 2023)
Frances Pepin (Appointed 24 April 2023)
Sinead McNicholl (Appoinled 24 April 2023)
Charfty Number in Northern Ireland
103054
Independent Examiner
Quarter Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT11PG
Bankers
Ulster Bank
11-16 Donegal Square east
Belfast
BT15UB

The Friends of Loreto College Coleraine
TRUSTEES, REPORT
for the financial year ended 31 March 2024
The trustees present their Trustees, Report and the unaudited financial ststements for the financial year ènded 31
March 2024.
Thè financial statements are prepared in accordance with the Charlti8s Act (Northèm Ireland) 2008, FRS 102 "The
Financial Reporting Standard applicable in the UK and Republic of Irelan(r' and Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their finanoal ststements in a¢¢ordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102).
The Trustees, Report contains the information required to be provided in the Trustees, Annual Report under the
Statement of Recommended Practice (SORP) guidelines. The trustees of the company are also charity trustees forthe
purpose of charity law and under the company's constitution are known as members of the board of trustees.
In this reFK)rt the trustees of The Friends of Loreto College Coleraine present a summary of its purpose, govemance.
activities, achievements and finances for the financial year 31 March 2024
The trustees who served during Ihe period are as follows:
Trustees
Michael James
Susan Kelly
Belinda Ton8r
Daniel Henry
Paul Mullan {R8signed 24 April 2023)
Sarah Egan (Resigned 24 Aprll 2023)
Stephen Gallagher (Appointed 24 April 2023)
Sinead McNicholl (Appointed 24 April 2023)
Frances Pepin (Appointed 24 April 2023)
Objectives and Activities
Frlends of Loreto is a committee of liké-mlnded past pupils, parents and teachers who want to maintain and promote
the Loreto ethos and academic eX￿llen￿ for present pupils and those to com8. It was formed In June 2014 and
propedy conslituted as a Charity In February 2015. It has now officially gained HMRC charitable status and can claim
Gift Aid on donations.
The primary aim of the tharity was to get in touch with past pupils and parents of current puplls and then to engage
with Ihe local Gommunity and businesses to highlight the great achlevements of the school and to raise awareness of
its ongoing projects.
Friends of Loreto have pro-actively used social media to reach out across the world and connect with friends far and
wide. The Facebook pa9e has proved a very popular medium and cuThently has 3,600 people following it. The charity
also has Linked-in and Twitter accounts. All these along with a database of email contacts allow us to raise the positive
profile ofthe school and keep people informed about what is happening to pupils past and present. There are updates
on events planned, successful sporting achievements, musical successes, and career information. Alumni can use it
to connecl with old friends and to keep abreast of current school news.
The secondary aim of the charity was to raise funds to support the school in lis continuous commitsnent to leaming and
to ensure that every Loreto student is encouraged to develop their individual talents. The board decided to raise funds
through organising activities, events. community projects and sponsorships.
The initial focus was to try to ralse enough funds to maintsin the Convent which had been recentty vacated by the
Loreto Nuns and which they were in the process of transferring to the school. The Education Authority did not want to
take ownership of the building but th8 historic and emotional ties to the beautiful, listed building meant that the Board
needed to tske action and to try and save it.
Thls project remains a central foujs for the charity with plans to enhance the heatlng system, roof. and windows as
well as a commitment to raise fvnds to support other sthool projects.
Reseryes Policy

The Friends of Loreto College Coleraine
TRUSTEES, REPORT
for the financial year ended 31 March 2024
Reserves are held for the benefit of Loreto College Coleraine. The res8Nes are being set aside for thè funding and
renovation expenditure. together with s¢hty)l activities. The policy is reviewed on an annual basis by the Trustees.
Achlevements and Perforniance
No organised events were organised during the year. Post year end a Golf Day took place in Limavady.
Thank-yQU
The trustees are very gratefijl for all the support given to them over this financial year and look forward to resuming
events in the year to come.
Results and Dividends
At the end of the financial year the company has assets of £4.249 (2023- £4,389) and liabilities of £0.00 (2023- £0.00).
The nel assets of the company have deGreased by £140.
In accordan￿ with the Artides of Association, the dlrectors retire by rotstion and, belng eligible. offer themselves for
re-election.
Compllance with Sector-wide Legislatlon and Standards
The ￿rnpanY 8ngag8s prfractively with legislation, stsndards and codes which are developed for the sector. The
Friénds of Loreto College Coleraine subscribes to and is compliant with the followlng:
Th8 Charliles SORP (FRS 102)
Approved by the Board of Trustee8 On 20 January 2025 and slgned on its behalf by:
Stephen Gallagher
Trustse
Slnead MCNIC
Trustee

The Friends of Loreto College Coleralne
INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES
OF THE FRIENDS OF LORETO COLLEGE COLERAINE
We have examined the financial statements of the company for the financial year ended 31 March 2024, whlch
comprise the Financial Statements and the related notes.
This report is made solely tothe company's members. as a body, in accordance wlth the Charities Act (Northem Ireland)
2008. Our work has been undertaken so thal we might compile the financial statements that we have been engaged to
compile, report to the Board of Trustees that we have done so, and state those matters that we have agreed to state
to Ihem in this reporl and for no other purpose. To the fijllest extent permitted by law. we do not accept or assume
responsibility to anyone other than the company and the company's members. as a body, for ourwork, orforthis report.
Respective responsibilities of trustees and examiner
The companys trustee5 are responsible for the preparation of the financial statements in accordance wilh the
requirements ofthe Charities Act (Northern Ireland) 2008. The company's trustees considerthat an audit is not required
for this financial year under the Charities Act (Northem Ireland) 2008 and that an independent examination is required.
It is our responsibility to:
examine the financial statements under section 65 of the Charities Act-
follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland
under section 65{9){b) of the Charities Act; and
state whether particular matters hav8 come to our attention.
Basis of Independent examlnerfg report
We have examined your Company financial statements as required under section 65 of the Charities Act and our
examination was carried out in accordance with the general Directions given by the Charity Commission for North8m
Ireland under seclion 85(9)(b} of the Charities Act. An examination includes 8 revlew of the accounting records kept by
the company and a comparison of the Ilnancial statements présented with those records. It also includes consideration
of any unusual items or disclosures in the financial statements and seéklng explanations from the trustees con￿mIng
any suth matters. The pro¢edures undertaken do not provide all the evidence that would be required in an audit and
consequently no opinlon is given as to whèther the accounts present a 'true and fairf view and the report is limited to
those matters set out in the statement below.
In conne¢tlon with our examination, no matter has Come to our attention which gives us cause to believe that in, any
material respect:
accounting records were not kept in accordance with section 63 of the Charities Act
the financial statements do not accord with those accounting records
the financial ststements have not been prepared in accordan¢e with the Statement of Recommended Practice
applicable to charities preparing their accounts in accordanc8 With the Financial Reportlng Standard 8ppli¢able In
the UK and Republic of Ireland {FRS102}
there is furth6r infonnation needed for a proper understanding of the accounts to be reached.
Independent examinefs statement
We have no concems and 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.
QUARTER CHARTERED ACCOUNTANTS
St Anne's House
15 Church Street
Cathedral auarter
Belfast
BT11PG
Date: 20 January 2025

The Friends of Loreto College Coleraine
FINANCIAL STATEMENTS
for the financ4al year ended 31 March 2024
Unrestrlcted Restrictsd
Fund$
Funds
2024
2024
Total
Total
2024
2023
Notes
Recelpts and Payments Account
Receipts
Activltl8s for generating funds
Income from Other Events
Other receipts:
other income
120
Total rncolpts
120
Payments
Cost of genoratlng funds:
Costs of Other Events
140
140
128
Charltable Activities:
Replacement Curtains
4.917
Total payments
140
140
5,045
Net recolptsl{payments) for the financial year
Balances brought foThvard at 1 April 2023
(140)
2,389
{140)
4,389
(4.925)
9.314
2,000
Balances carried forward at 31 March 2024
2,249
2,000
4,389
4,389
statement of Assets and Liabilities
Cash funds
Bank and cash
2,249
2,000
4.249
4.389
Current Ilabllltles
Approved by the Board of Trustses and authorlsed for I￿Ue on 20 January 2025 and signed on Its behalf by
stephen G
Trustee
Ilagher
Sinèad McNlcholl
Trustee
The not&s on pages 810 9 fomi part of the financial statements

The Friends of Loreto College Coleraine
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
GENERAL INFORMATION
The Friends of Loreto College Coleraine is a charity Incorporated in Northem Ireland. The registered office of
the company is Loreto Toner, Castlerock Road. Coleraine, BT51 3JZ whith is also the prlncipal place of
buslnéss of the company The financial stateménts have been presented in Pound Sterling (£) which is also the
functional currency of th8 company.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following accounting policies have be8n applied consistentty in dealing with items which a￿ Considered
material in relation to the charity's financial statements.
Basls of preparation
The financial statements have been prepared on the going concern basis under the historical cost convention,
modified to include certain it6ms at fair value. The financial statements have been prepared in accordance with
the Statement of Recommended Practice {SORP) 'Accountlng and Reporting by Charities preparing their
accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland
FRS 102"
As pemiitted by the Companies Act 2006. the company has varied the standard formats in that act for the
Statement of Financial A¢tivitl6s and the Balance Sheet. Departures from the standard formats are to comply
with the requirements of the Charities SORP and are In compliance with section 4.7. 10.6 and 15.2 of that
SORP.
Statement of compliance
The financial Statements of the company for the financial year ended 31 March 2024 have been prepared on
the going concern basis and in a¢cordanc8 wlth th8 Statement of Recommended Practi￿ (SORP)'Accounting
and Reporting by Charitl8s preparing their accounts in aC￿rdants with the Finandal Reporting Standard
appllcable in the UK and Republi¢ of Ireland FRS 102"
In¢oming Resources
Voluntsry in¢ome or capital is induded in the Statement of Financial A￿NItIeS when th8 company is legally
entitled to it, its financial value Can be quantified with reasonable certainty and there is reasonable certainty of
its ultimate re￿ipt. Entitlement to legacies is considered established when the company has been notlfied of a
distributlon to be made by the executors. Income received In advance of due performance under a contract is
accounted for as deferred income until eamed. Grants for activities are recognised as income when the related
conditions for legal entitlement have been met. All other in¢ome Is account8d for on an accruals basis.
Resources Expended
All resour¢e$ expendéd are accounted for on an accruals basis. Charitable activities indude costs of services
and grants. support costs and depredatlon on related assets. Costs of generating funds similarly indude
fundr8i8ing 8Ctivlties. Non-staff costs not attributed lo one category of 8¢tivity are allo¢ated or apportloned pro-
rata to the staffing of the relevant sènilce. Finance, HR, IT and administrative staff costs are direcuy attributable
to individual activlties by objective. Govemance costs are those associated with constitutional and statutory
requirements.
Cash at bank and in hand
Cash at bank and in hand comprises ¢a$h on deposit at banks requiring less than three months, notice of
withdrawal.
Taxatlon and deferred taxation
No current or d8ferred taxation arises as the company has been granted charltable exemption. Irrecoverable
valued added tax is expensed as incurred.
Deferred tsx is recognised in respect of all timing differences that have originated but not reversed at the
balan￿ sheet date where transactions or events have occurred at that date that will result in an obligation to
pay more tax in the future. or a right to pay less tax in the future. Timlng differénces are temporary dIfferen￿S
be￿een the company's taxable proffts and its results as stated in the financial statements.
Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the ￿rIodS
in which the timing differen￿ are expe¢ted to réverse, based on tax rates and laws that have been enacted
or substsntivety enacted by the balance sheet date.

The Friends of Loreto College Coleraine
NOTES TO THE FINANCIAL STATEMENTS
continued
for the financial year ended 31 March 2024
ANALYSIS OF PAYMENTS AND RELATED INCOME FOR CHARITABLE ACTIVITIES
2024
2023
Replacement of school curtains
4,917
SUPPORT PAYMENTS
RESERVES
2024
2023
At 1 April 2023
(Deficit)ISurplus for the financial year
4.389
{140}
9.314
{4,925)
At 31 March 2024
4,249
4,389
FUNDS
ANALYSIS OF NET ASSETS BY FUND
Current
assets
Total
Restricted trust funds
2,000
2,000
Unrestrided general funds
2.249
2,249
4,249
4,249
POST-BALANCE SHEET EVENTS
There have bean no signrficant events affecting the Charity since the financial yearond.

THE FRIENDS OF LORETO COLLEGE COLERAINE
SUPPLEMENTARY INFORMATION
RELATING TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
10

The Friends of Loreto College Coleraine
SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS
OPERATING STATEMENT
for the finanoal year 8nd8d 31 March 2024
2024
2023
Schedule
Income
120
Charitable activities and other expenses
(140}
(5.045)
Net Ideficitysurplus
(140)
(4.925)
The supplementary infomiation does r￿1 fom part of the fjnancial ststements
11

The Friends of Loreto College Coleraine.
SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS
SCHEDULE 1 . CHARITABLE ACTIVITIES AND OTHER EXPENSES
for the financial year ended 31 March 2024
2024
2023
Expenses
Insurance
Replacement Curtains
140
128
4.917
140
5.045
The supplementsry infomation does not form part of the financial statements
12