ids.
Charlty Reglstratlon No. 103054 (Northern Ireland}
¢hartered accountants
THE FRIENDS OF LORETO COLLEGE COLERAINE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
IDS Chartered Accountants LLP
23125 Queen Street
COLERAINE
Co Londonderry
BT52 1 BG

THE FRIENDS OF LORETO COLLEGE COLERAINE
ids.
chartered accountants
CONTENTS
Page
Legal and administrative information
Trustees report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial statements
7-10

THE FRIENDS OF LORETO COLLEGE COLERAINE
ids.
chartered accountants
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
DJHenry
M James
S Kelly
B Toner
S Gallagher
F Pepin
S McNicholl
Charity number
103054
Independent examiner
IDS Chartered Accountants LLP
23125 Queen Street
COLERAINE
Co Londonderry
BT52 1 BG
Bankers
Ulster Bank Ltd
11116 Donegall Square East
BELFAST
BT1 SUB

THE FRIENDS OF LORETO COLLEGE COLERAINE
ids.
chartered accountants
TRUSTEES REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report and financial slatements for the year ended 31 March 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 governing document, the Charities Act 2011, 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)"
Oblectlves and activltles
Friends of Loreto is a committee of like-minded past pupils, parents and teachers who want to maintain and
promote the Loreto ethos and academic excellence for present pupils and those to come. 11 was formed in June
2014 and properly constituted as a Charity in February 2015. 11 has now officially gained HMRC charitable status
and can claim GiftAid on donations.
The primary aim of the charity was to get in touch wilh past pupils and parents of current pupils and then to engage
with the local community and businesses to highlight the great achievements of the school and to raise awareness
of the ongoing projects.
Friends of Loreto have pro-actively used social media to reach out across the world and connecl with friends far and
wide. The Facebook page has proved a very popular medium and currently 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 of the 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 connect with old friends and to keep abreast of current school news.
The second aim of the charity was to raise funds to support the school in its continuous commitment to learning and
to ensure that every Loreto student is encouraged to develop their individual talents. The board deoded to raise
funds through organising activities, events, community projects and sponsorships.
The initial focus was to try to raise enough funds to maintain the Convent which has been recently vacated by the
Loreto Nuns and which they were in the process of transferring to the school. The Education Authority did not want
to lake ownership of the building but the historic and emotional lies to the beautiful, listed building meant that the
Board needed to take action and to try and save it.
This project, which is currently 'on hold, pending legal due diligence, remains the central focus for the charity with
plans lo enhance the heating system, roof, and windows as well as a commitment to raise funds to support other
school projects.
Achievements and performance
Significant activities and achievements against objectives
During the year the committee organised a very successful Golf Day al the Radisson Roe Park Golf Club This
event attracted an entry of over 100 past pupils and friends and was a great opportunity for many old friendships to
be renewed.
The Friends have been able to contribute towards the costs of a Gaelic Performance Officer in the school. This
person assists in the development and supervision of a vast number of sporting initiatives within the school. As part
of their role, they also help with the various school teams who represent the school in the local ccmpetitions and
leagues.
Financial review
ReseNes policy
Reserves are held for the benefit of Loreto College Coleraine. The reseNes are being set aside for the funding and
renovation expenditure, together with school activities. The policy is reviewed on an annual basis by the Trustees.

THE FRIENDS OF LORETO COLLEGE COLERAINE
ids.
chartered accountants
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
At the end of the financial year the company has assets of £8,946 {2024 £4,249) and liabilities of £nil (2024 - £nil}.
The net assets of the company have increased by £4,697.
The charity engages pro-aclively with legislation, standards and codes which are being developed for the sector.
The Friends of Loreto College Coleraine subscribes to and its compliant with the following..
The Charities SORP IFRS 102)
Structure, governance and management
The Trustees who served during the year and up to the date of signature of the financial statements were..
DJHenry
M James
S Kelly
B Toner
S Gallagher
F Pepin
S McNicholl
Thank-you
The trustees are very grateful for all the support given to them over this financial year and loo forward to resuming
events in the year to come.
The Trustees report was approved by the Board of Trustees.
S Gallagher
F Pepin
29 January 2026

THE FRIENDS OF LORETO COLLEGE COLERAINE
ids.
chartered accountants
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE FRIENDS OF LORETO COLLEGE COLERAINE
I report to the Trustees on my examination of the financial statements of The Friends of Loreto College Coleraine
(the Charity) for the year ended 31 March 2025.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the financial slatements in accordance with
the requirements of the Charities Act 2011.
I report in respect of my examination of the Charity's financial statements carried out under section 145 of the
Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission
under section 14515llbl of the Charities Act 2011.
Independent examiner's statement
I have completed my examination. 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..
accounting records were not kept in respect of the Charity as required by section 130 of the Charities Act 2011.
the financial statements do not accord with those records., or
the financial statements do not comply with the applicable requirements concerning the form and content of
financial statemenls set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the financial statements give a true and fair view, which is not a matter considered as part of
an independent examination.
I have no concerns 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.
IDS Chartered Accountants LLP
23125 Queen Street
COLERAINE
Co Londonderry
BT52 1 BG
29 January 2026

THE FRIENDS OF LORETO COLLEGE COLERAINE
ids.
chartered accountants
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted Restricted
funds
funds
2025
2025
Total Unrestricted Restricted
funds
funds
2024
2024
Total
2025
2024
Notes
Income from:
Donations and legacies
19,510
19,510
Total income
19,510
19,510
Expenditure on:
Raising funds
Charitable activities
7,900
6,913
7,900
6,913
140
140
Total expendlture
14,813
14,813
140
140
Net incomel{expendlture} and
movement In funds
4,697
4,697
{140)
(1401
Reconclllatlon of funds:
Fund balances at 1 April 2024
2,249
2,000
4,249
2,389
2.000
4,389
Fund balances at 31 March
2025
6,946
2,000
8,946
2,249
2,000
4,249

THE FRIENDS OF LORETO COLLEGE COLERAINE
ids.
chartered accountants
BALANCE SHEET
ASAT31 MARCH 2025
2025
2024
Notes
Current assets
Cash at bank and in hand
8,946
4,249
Net current assets
8,946
4,249
The funds of the Charity
Restricted income funds
Unrestricled funds
2,000
6,946
2,000
2,249
10
8,946
4,249
The financial statements were approved by the Trustees on 29 January 2026
S Gallagher
F Pepin

THE FRIENDS OF LORETO COLLEGE COLERAINE
ids.
chartered accountants
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
Charity information
The Friends of Lorelo College Coleraine is a Registered Charity (charity number 105758) The registered
office is Loreto College, Castlerock Road, Coleraine, BT51 3JZ.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Charity's governing document, the
Charities Act (Northern Ireland} 2008 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}" las amended for accounting
periods commencing from 1 January 2016). 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 applying FRS 102 Update
Bulletin 1 not to prepare a Statement 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 historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Charitable funds
Unreslricled funds are available for use at the discrelion 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 funds are set out in the notes to the financial statemen15.
1.3 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 Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwlse if the Charity 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 assel.
1.4 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
Trust to that expenditure, it is probable that settlement will be required and the amount of the obligation can be
measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance
costs are allocated or apportioned to the applicable expenditure headings.
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
1.5 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.

THE FRIENDS OF LORETO COLLEGE COLERAINE
ids.
chartered accountants
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
{Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balance5, 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 transaction 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.
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 current liabilities if paymenl is due within one
year or less. If not, they are presented as non-currenl 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.
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 ¢Jnly that
period. or in the period of the revision and future periods where the revision affects both current and future
periods.
Income from donations and legacies
Unrestricted
funds
2025
Unrestricted
funds
2024
Income from Golf Day
19,510

THE FRIENDS OF LORETO COLLEGE COLERAINE
ids.
chartered accountants
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Expenditure on ralslng funds
Unrestricted Unrestricted
funds
funds
2025
2024
Trading costs
Contribution to GPO
7,900
Expenditure on charitable activities
2025
2024
Dlrect Costs
Cost of Golf Day
Cost of other events
6,760
153
140
6,913
140
Analysis by fund
Unrestricted funds
6,913
140
Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the
Charity during the year.
Employees
There were no employees during Ihe year.
Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific conditions by donors as to how they may be used.
At 1 April At 31 March
2024
2025
2,000
2,000

THE FRIENDS OF LORETO COLLEGE COLERAINE
ids.
chartered accountants
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Restrlcted funds
{Continued)
Previous year:
At 1 April At 31 March
2023
2024
2,000
2,000
10 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as lo how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the Irustees for specific purposes.
At 1 April
2024
Incoming
resources
Resources At 31 March
expended
2025
General funds
2,249
19,510
114,8131
6,946
Prevlous year:
At 1 Aprll
2023
Incoming
resources
Resources At 31 March
expended
2024
General funds
2,389
(1401
2,249
11 Analysls of net assets between funds
Unrestricted
funds
2025
Restricted
funds
2025
Total
2025
At 31 March 2025:
Current assetsl{liabilities)
6,946
2,000
8,946
6,946
2,000
8,946
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 March 2024:
Current assetsllliabilities)
2,249
2,000
4,249
2,249
2,000
4,249
12 Related party transactions
There were no disclosable related party transactions during the year (2024- none).
10-