| Friends of St. Colman's Bann Primary School 3 _ Statement of Financial Activities
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Year ended 30 June 2025
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|||2025|2024|
|Unrestricted|.|
|funds|Totalfunds|Total|funds|
|Note|£|£|£|-|
|Income|and|endowments|
|Charitable activities|4.|512.|512|1,806|
|Total|income|||)|512|512|1,806|
|Expenditure|~|.|
|Expenditure|on|charitable|activities|
|—«45|6|543.|843|-|41,400|
|Total|expenditure|'|643|543|1,400|
|Net (expenditure)/income|and: net movement in funds|(31)|(31yo|406|
|Reconciliation|of funds|
|Total|funds|brought forward|2,692|°|2,692|
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|Total|2,286|
|funds carried forward|2,661|~|2,661|2,692|
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. -
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The notes on pages 7 to 10 form part of these financial statements.
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_ Friends of St. Colman's Bann Primary Schoo!
Statement of Financial Position |
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30 June 2025
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||||||||||2025|2024|| |---|---|---|---|---|---|---|---|---|---| |||||||Note|-£|£|;| |Current assets|||||||||| |Cash at bank and in|hand||||||" 2,661|2,692|| |Net current assets||||:|||2,661|2,692|| |Total assets less current liabilities||||||,|2,661|2,692|| |Funds ofthe charity|||||||-,||| |Unrestricted funds|©||||||2,661|2,692|| ||||)||||||| |Totalcharityfunds||_-||||8|2,661|——s-2,692||
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: Unrestricted funds © 2,661 2,692 Total charityfunds _- ) 8 2,661 ——s-2,692 These financial statements were approved by the board of trustees and authorised for issue on dati Gand are signed on behalf of the board by: ,
_.CGlover Trustee
B Tarrant — Trustee .
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The notes on pages7 to 10 form part of these financial statements.
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Friends of St. Colman's Bann Primary School
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Notes to the Financial Statements
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Year ended 30 June 2025
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- General information
The charity Is a public benefit entity and a registered charity in Northern Ireland and_is a unincorporated.BT63 6DU, Armagh.The addressofthe principal office is 10 Drumnascamph Road, Gilford, Craigavon, 2. Statement of compliance > ,
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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 Charities Act (Northern Ireland) 2008. ‘3. Accounting policies . Basis of preparation . ae
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.
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Going concern
— There are no material uncertainties about the charity's ability to continue.
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Fund accounting
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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 trustees for particular future project or commitment. i _ 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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Friends of St. Colman's Bann Primary School Notes to the Financial Statements (continuew :
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Year ended 30 June 2025 3. Accounting policies (continued) ; a . Incoming resources — ) me oo . All incoming resources are included in the statement of financial financial activities when 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: ; ° 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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e 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
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- 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 | Jt contribution. of general volunteers. Co ,
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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 may be. regarded as.restricted. i
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Resources expended a a,
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- Expenditure is recognised on an accruals basis asa asa liability is incurred. Expenditure includes any any VAT which cannot which cannot cannot be fully fully recovered, and is classified under headings of the the statement of financial financial i activities to which which it relates: F
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"expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities,.and the sale sale of donated 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, including those-, 1 support costs and costs relating to the governance of the charity apportionedtototo charitable : activities. |
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« . other expenditure includes expenditure includes includes all expenditure that expenditure that that is neither related neither related related to raising funds for the charity raising funds for the charity funds for the charity for the charity the charity charity j
Incoming resources — ) me oo All incoming resources are included in the statement of financial financial activities when 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:
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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
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- Expenditure is recognised on an accruals basis asa asa liability is incurred. Expenditure includes any any VAT which cannot which cannot cannot be fully fully recovered, and is classified under headings of the the statement of financial financial activities to which which it relates:
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a "expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities,.and the sale sale of donated 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, including those-, support costs and costs relating to the governance of the charity apportionedtototo charitable
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oO activities.
, activities that further its charitable aims for the benefit of its beneficiaries, including those-support costs and costs relating to the governance of the charity apportionedtototo charitable oO activities. . « . other expenditure includes expenditure includes includes all expenditure that expenditure that that is neither related neither related related to raising funds for the charity raising funds for the charity funds for the charity for the charity the charity charity nor part of its expenditure on charitable activities.
| i 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. | |
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Financial instruments
A financial asset or a financial liability is recognised only when the charity becomesa party to the contractual provisions of the instrument. - , Basic financial instrumentsare initially recognised at the amount receivable or payable including any related transaction costs. _
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Friends of St. Colman's Bann Primary School
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Notes to the Financial Statements (continued)
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| . | Yearended 30 June 2025 : |
Yearended 30 June 2025 : |
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| . | 3. | . Accounting policies (continued) | : | ||||||
| oe | Financial instruments (continued) | ||||||||
| Currentassetsandcurrentliabilities aresubsequentlymeasuredatthecashorother consideration | |||||||||
| ; | expected to be paid or received and notdiscounted. | ||||||||
| Debtinstrumentsaresubsequently measured atamortised cost. . . |
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| , | Where investments in shares are publicly traded or their fair value canotherwise be méasured reliably, the investment is subsequently measured at fair value with changes in fair value. recognised in income and-expenditure. All othersuch investments are subsequently measured at cost less impairment. mc , |
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| Other financial instruments, including derivatives, are initially recognised at fair value, unless ‘payment for an asset is deferred beyond normal business terms orfinanced at a rate of interest that Is not a market rate, In which case the asset is measured at the present value ofthe future |
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| payments discounted atamarket rate ofinterestfor a similardebt instrument. | |||||||||
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Otherfinancial instruments aresubsequentlymeasured atfairvalue, with anychanges recognised in the statement offinancial activities, with the exception ofhedging instruments in a designated hedging relationship. _ ca. " a |
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| Financial assets thataremeasured atcost oramortised costare reviewed for objectiveevidence | . | ||||||||
| . | of impairment at the end of each reporting date. Ifthere is objective evidence of impairment, an | ||||||||
| impairment loss isrecognised undertheappropriate headinginthestatement offinancial activities inwhich the initialgainwas recognised, - oo |
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| Forallequityinstruments regardless ofsignificance, andotherfinancial assetsthatare individually significant, these are assessed individually for impairment. Other financial assets are either |
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| assessed individually or grouped on the basis ofsimilar credit risk characteristics. | |||||||||
| . | Anyreversals ofimpairment are recognised immediately, tothe extentthat.the reversal doesnot. result in a carrying amount of the financial asset that exceeds what the carrying amount would |
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| ; | have been had the impairment not previously been recognised. | ||||||||
| 4. | Charitableactivities . |
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| . | Unrestricted Total Funds Unrestricted Total Funds: Funds 2025 - Funds ' 2024 |
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| Fundraising income 512 512 © 1,806 1,806 |
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| 5. | Expenditure on charitable activities byfund type . |
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| Unrestricted TotalFunds Unrestricted Total Funds , ' Funds 2025 |
Funds 2024 |
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| . | Purchase ofsupplies for school , 500 500 . 1,240 . 1,240 |
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| Fundraising costs _ 43 43 160 , 160 |
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543 1,400 - 4,400 |
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Notes to the Financial Statements (continues) .
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Friends of St. Colman's Bann Primary School
Year ended 30 June 2025
|Year ended|Year endedended 30 JuneJune|30 JuneJune|30 JuneJune 2025|2025||||||||,||||||||
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|6.|Expenditureoncharitable||charitable||activities byactivitytype|||||||||.|||||
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|.||||||||undertaken||Totalfunds|||=|Total fund|||||
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£||||2025
£|||2024-
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||Purchase ofsuppliesforschool
Fundraising costs-|||school|||||500
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600
43|—||1,240
160|~|||
||||||||-||543|||543||-|1,400||||
|7.|Trustee remuneration andexpenses||||expenses||||||||||||||
||‘No remuneration||or other benefits from|||employment||with the|charity||ora|a related||entity were||-|||
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||‘No trustee expenses have been incurred.||||||.|||:|||||||||
|8.|—Analysisofcharitablefunds||||||||||||||.|||||
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||Unrestrictedfunds||||||At||||||||At|.||;|
||||||.|1 July2024|2024|Income||Expenditure|||30Jun 2025|||..|.||
||.||||||£|£||||go.|||£||||
||Generalfunds|||||"2,692|||512|||(543)|||2,661.||||
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£|Income
£||Expenditure
£-|||30June|June 2024
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||General funds|-|||||2,286|1,806||||(1,400)|||2,692||||
|9.|Analysis ofnetassets|||between funds||||||||||||||||
||:|||||||.||Unrestricted||||Total||Funds||||
|||||||||Oo||||Funds|||2025||||
||Current assets|||a||||||||2,661|||2,661||||
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||||a|||a|||-|Unrestricted|||Total||Funds||||
|||||||.||||||Funds|||2024||||
||Current assets|—|||||.|||||2,692|||2,692||||
6. Expenditure on charitable activities by activity type
7. Trustee remuneration and expenses
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