## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Consolidated Statement of Financial Activities (including consolidated income and expenditure account)**
## **31 March 2023**
||||**2023**||2022||
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted||||
|||funds|funds|**Total funds**|Total funds||
||**Note**|**£**|**£**|**£**|£||
|**Income and endowments**|||||||
|Donations and legacies|**5**|80,398||80,398|194,878||
|Charitable activities|**6**|3,924|10,822|14,746|289,678||
|Other trading activities|**7**|1,100,280||1,100,280|1,264,260||
|Other income|**8**||||-||
|**Total income**||1,184,602|10,822|1,195,424|1,748,816||
|**Expenditure**|||||||
|Expenditure on raising funds:|||||||
|Costs of other trading activities|**9**|632,232||632,232|650,306||
|Expenditure on charitable activities|**10/11**|881,312|34,346|915,658|917,910||
|**Total expenditure**||1,513,544|34,346|1,547,890|1,568,216||
||||||||
|**Net income/(expenditure) and net**||(328,942)|(23,524)|(352,466)|180,600||
|**movement in funds**|||||||
|**Transfer**||||||-|
|**Reconciliation of funds**|||||||
|Total funds brought forward||623,932|1,049,820|1,673,752|1,493,152||
|**Total funds carried forward**||294,990|1,026,296|1,321,286|1,673,752||
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 14 to 30 form part of these financial statements.**
14
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Consolidated Statement of Financial Position**
## **31 March 2023**
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|Group|Group|Charity|Charity|
|2023|2022|2023|2022|
|Note|£|£|£|£|
|Fixed assets|
|Tangible fixed assets|16|2,070,467|2,198,111|1,101,577|1,208,380|
|Investments|17|2|2|
|-------------------------|------------------------|-------------------------|-------------------------|
|Total fixed assets|2,070,467|2,198,111|1,101,579|1,208,382|
|Current assets|
|Stocks|14,673|3,990|7,415|3,110|
|Debtors|18|110,630|159,907|210,128|271,516|
|Cash at bank and in hand|246,846|428,420|230,155|418,103|
|-------------------------|-----------------------|-------------------------|-------------------------|
|Total current assets|372,149|592,317|447,698|692,729|
|Creditors: amounts falling due|
|within one year|19|241,295|272,126|152,015|217,760|
|----------------------|--------------------|------------------------|-----------------------|
|Net current assets|130,854|320,191|295,683|474,969|
|----------------------|--------------------|-----------------------|-----------------------|
|Total assets less current liabilities|2,201,321|2,518,302|1,397,262|1,683,351|
|Creditors: amounts falling due after|
|more than one year|20|880,035|844,550|46,675|-|
|----------------------|-----------------------|-----------------------|-------------------------|
|Net assets|1,321,286|1,673,752|1,350,587|1,683,351|
|===============|================|=============== =================|
|Funds of the charity|
|Restricted funds|1,026,296|1,049,820|1,026,296|1,049,820|
|Unrestricted funds|294,990|623,932|324,291|633,531|
|-------------------------|-------------------------|-----------------------|------------------------|
|22|1,321,286|1,673,752|1,350,587|1,683,351|
|=================|================ =================|================|
**----- End of picture text -----**
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 19 December 2023, and are signed on behalf of the board by:
Ms S Cavanagh Trustee
**The notes on pages 14 to 30 form part of these financial statements.**
15
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Consolidated Statement of Cash Flows**
## **Year ended 31 March 2023**
||**2023**|2022|
|---|---|---|
||**£**|£|
|**Cash flows from operating activities**|||
|Net income/(expenditure)|(352,466)|180,606|
|_Adjustments for:_|||
|Depreciation of tangible fixed assets|129,089|109,175|
|Loss on disposal of tangible fixed assets||-|
|Capital Grant Release||-|
|Accrued Income|61,669|(19,591)|
|_Changes in:_|||
|Stocks|(10,683)|(2.928)|
|Trade and other debtors|2,847|(71,333)|
|Trade and other creditors|9,415|105,724|
|Cash generated from operations|(160,129)|301,653|
|Net cash used in operating activities|(160,129)|301,653|
|**Cash flows from investing activities**|||
|Purchase of tangible assets|(1,445)|(182,311)|
|Proceeds from sale of other investments|-|3,030|
|Net cash from investing activities|(1,445)|(179,281)|
|**Cash flows from financing activities**|||
|Proceeds from borrowings|(20,000)|(163,333)|
|Net cash from financing activities|(20,000)|(163,333)|
|**Net (decrease)/increase in cash and cash equivalents**|(181,574)|(40,961)|
|**Cash and cash equivalents at beginning of year**|428,420|469,381|
|**Cash and cash equivalents at end of year**|246,846|428,420|
16
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements**
## **Year ended 31 March 2023**
## **1. General information**
The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 163 Stewartstown Road, Belfast, Co. Antrim, BT17 0HW.
## **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)), the Charities Act (Northern Ireland) 2008 and the Companies Act 2006.
Colin Glen Trust meets the definition of a public benefit entity under FRS 102.
## **3. 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 were no material uncertainties about the ability to continue as a going concern. However, Colin Glen Leisure Limited included an Emphasis of Matter paragraph due to a material uncertainty which may cast significant doubt about concern, due to net liabilities of £17,690. Colin Glen Landscapes also included an Emphasis of Matter paragraph due to a material uncertainty which may cast significant doubt about the
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## **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 trustees 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.
17
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **3. 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.
- legacy income is recognised when receipt is probable, and entitlement is established.
- 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.
- 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.
## **Basis of accounting**
The financial statements have been prepared in accordance with 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) (effective 1 January 2015) (Charities SORP (FRS 102)) and the Companies Act 2006.
## **Basis of consolidation**
The consolidated financial statements comprise the Charity and its subsidiaries, Colin Glen Leisure Limited and Colin Glen Landscapes Limited. The results of the subsidiaries have been consolidated into the Statement of Financial Activities on the basis of net profit after transfers to the Charity.
18
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **3. Accounting policies** _**(continued)**_
## **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:
- expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
- 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 apportioned to charitable activities.
- 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.
## **Tangible assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
## **Colin glen Trust's depreciation policy changed from reducing balance method to straight line method from 1st April 2019.**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|Freehold property|-|1%/2% straight line|
|---|---|---|
|Plant and equipment|-|20% reducing balance/20% straight line from 2019/20|
|Fixtures and fittings|-|20% straight line|
|Motor vehicles|-|25% straight line|
|Computer equipment|-|25% straight line|
19
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **3. Accounting policies** _**(continued)**_
## **Investments**
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
## **Impairment of fixed assets**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
## **Stocks**
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
## **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.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
20
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **3. Accounting policies** _**(continued)**_
## **Financial instruments** _**(continued)**_
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 changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are 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.
## **Defined contribution plans**
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
## **4. Limited by guarantee**
Colin Glen Trust is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
21
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **5. Donations and legacies**
||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|
||Funds|**2023**|Funds|2022|
||£|**£**|£|£|
|**Donations**|||||
|Donations|611|611|2,519|2,519|
|Covenanted Donation|79,787|79,787|118,680|118,680|
|**Grants**|||||
|JRS
reclaim re Covid 19|-|-|73,679|73,679|
||80,398|80,398|194,878|194,878|
## **6. Charitable activities**
|||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|---|
|||Funds|Funds|**2023**|
|||£|£|**£**|
|Gruffalo Merchandise||3,924||3,924|
|NI|Charity Fund||||
|Ulster Community Fund|||10,405|10,405|
|UCIT Covid Funding|||||
|TNI Marketing Grant|||||
|Rural Tourism Capital Grant|||417|417|
|NIEA Grant|||||
|Belfast City Council - Every Body Active|||||
|Belfast City Council|||||
|Community Fund Wellbeing & Mindfulness Trail|||||
|Safe Return Fund|||||
|||--------------------------------|--------------------------------|--------------------------------|
|||3,924|10,822|14,746|
|||================================|================================|================================|
22
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **6. Charitable activities** _**(continued)**_
||||Unrestricted|Restricted|Total Funds|
|---|---|---|---|---|---|
||||Funds|Funds|2022|
|2|||£|£|£|
||Gruffalo Merchandise|||||
||NI|Charity Fund||||
||Ulster Community Fund|||||
||UCIT Covid Funding||35,606||35,606|
||TNI Marketing Grant|||24,924|24,924|
||Rural Tourism Capital Grant|||25,701|25,701|
||NIEA Grant|||150,000|150,000|
||Belfast City Council - Every Body Active|||||
||Belfast City Council|||7,563|7,563|
|||||33,886|33,886|
||Community Fund Wellbeng & Mindfulness Trail|||10,000|10,000|
||Safe Return Fund|||1,998|1,998|
||||35,606|254,072|289,678|
23
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **7. Other trading activities**
||Unrestricted|**Total**|Unrestricted|Total|
|---|---|---|---|---|
||Funds|**Funds**|Funds|Funds|
|||**2023**||2022|
||£|**£**|£|£|
|Shop income|20,451|20,451|26,425|26,425|
|Hall and office rental|4,333|4,333|4,300|4,300|
|Café Rental|2,411|2,411|2,701|2,701|
|EBA|||23|23|
|Entrance fees|43,254|43,254|31,750|31,750|
|Skytrek|61,011|61,011|106,196|106,196|
|Archery|7,696|7,696|18,135|18,138|
|Catering|5,183|5,183|6,235|6,235|
|Santa sales|10,434|10,434|5,502|5,502|
|Laser tag|18,690|18,690|22,099|22,099|
|Transport|||(3,681)|(3,681)|
|Gym 10|120|120|1,849|1,849|
|Vouchers|167|167|75|75|
|Transport|||438|438|
|Party Catering Income|||1,920|1,920|
|Vending machine sales|5,191|5,191|6,215|6,215|
|Mountain Adventure Package|74,917|74,917|71,745|71,745|
|River Adventure Package|2,350|2,350|2,200|2,200|
|Thrill Seekers|11,582|11,582|3,533|3,533|
|Alpine Coaster (BBR)|148,850|148,850|238,468|238,468|
|Zip Line (FFO)|111,724|111,724|88,810|88,810|
|Team games|4,250|4,250|4,700|4,700|
|Income from Trading Subsidiaries|567,666|567,666|624,622|624,622|
||1,100,280|1,100,280|1,264,260|1,264,260|
## **8. Other income**
|||Unrestricted|**Total**|Unrestricted|Total|
|---|---|---|---|---|---|
|||Funds|**Funds**|Funds|Funds|
||||**2023**||2022|
|||£|**£**|£|£|
|Insurance|Claim|||||
24
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **9. Costs of other trading activities**
||Unrestricted|**Total**|Unrestricted|Total|
|---|---|---|---|---|
||Funds|**Funds**|Funds|Funds|
|||**2023**||2022|
||£|**£**|£|£|
|Costs of other trading activities|44,864|44,864|63,326|63,326|
|- Shop costs|||||
|Costs of trading subsidiaries|587,368|587,368|586,980|586,980|
||632,232|632,232|650,306|650,306|
## **10. Expenditure on charitable activities by fund type**
||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2023**|
||£|£|**£**|
|Provision of recreational & educational activities|729,287|34,346|763,633|
|Support costs|152,025|-|152,025|
||881,312|34,346|915,658|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2022|
||£|£|£|
|Provision of recreational & educational activities|527,227|241,055|768,282|
|Support costs|115,699|33,929|149,628|
||642,926|274,984|917,910|
## **11. Expenditure on charitable activities by activity type**
||Activities||||
|---|---|---|---|---|
||undertaken||**Total funds**|Total fund|
||directly|Support costs|**2023**|2022|
||£|£|**£**|£|
|Provision of recreational & educational|||||
|activities|763,633|130,736|894,369|898,604|
|Governance costs||21,289|21,289|19,306|
||763,633|152,025|915,658|917,910|
25
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **12. Analysis of support costs**
||Analysis of|||
|---|---|---|---|
||support costs|**Total 2023**|Total 2022|
||£|**£**|£|
|Staff costs|109,626|109,626|114,490|
|General office|21,110|21,110|15,832|
|Governance costs|21,289|21,289|19,306|
||152,025|152,025|149,628|
The basis of allocation of support costs to activities is as follows:
- Staff costs: Staff time
- General office: Transactions
- Governance: Transactions
- Finance costs: Transactions
## **13. Net income/(expenditure)**
Net income/(expenditure) is stated after charging/(crediting):
|Net income/(expenditure) is stated after charging/(crediting):|||
|---|---|---|
||**2023**|2022|
||**£**|£|
|Depreciation of tangible fixed assets|129,089|109,175|
|Fees payable for the audit of the financial statements|11,858|8,323|
26
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **14. Staff costs**
The total staff costs and employee benefits for the reporting period are analysed as follows:
||**2023**|2022|
|---|---|---|
||**£**|£|
|Wages and salaries|724,193|699,246|
|Social security costs|38,153|51,035|
|Employer contributions to pension plans|13,077|15,304|
||775,423|765,585|
The average head count of employees during the year was 17 (2022: 28).
The number of employees whose remuneration for the year fell within the following bands, were:
|||**2023**|2022|
|---|---|---|---|
|||**No.**|No.|
|£60,000|to £69,999||1|
|£80,000|to £89,999|1||
## **Key Management Personnel**
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £87,441 (2022: £109,810).
## **15. Trustee remuneration and expenses**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
## **16. Tangible fixed assets - Group**
||Freehold|Plant and|Fixtures &|Motor|Equipment|**Total**|
|---|---|---|---|---|---|---|
||property|Machinery|Fittings|vehicles|||
||£|£|£|£|£|**£**|
|**Cost**|||||||
|At 1 April 2022|2,511,693|104,282|327,380|45,250|68,075|3,056,680|
|Additions|||1,445|||1,445|
|Disposals|||||||
|**At 31 March 2023**|2,511,693|104,282|328,825|45,250|68,075|3,058,125|
|**Depreciation**|||||||
|At 1 April 2022|481,647|90,751|199,396|32,569|54,206|858,569|
|Charge for the year|31,627|13,428|58,854|11,312|13,868|129,089|
|Disposals|||||||
|**At 31 March 2023**|513,274|104,179|258,250|43,881|68,074|987,658|
|**Carrying amount**|||||||
|**At 31 March 2023**|1,998,419|103|70,575|1,369|1|2,070,467|
|At 31 March 2022|2,030,046|13,531|127,984|12,681|13,869|2,198,111|
27
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **16. Tangible fixed assets Parent Charity**
||Freehold|Plant and|
Fixtures and|Motor|||
|---|---|---|---|---|---|---|
||property|machinery|fittings|vehicles|Equipment|**Total**|
||£|£|£|£|£|**£**|
|**Cost**|||||||
|At 1 Apr 2022|1,314,496|40,847|272,583|45,250|68,075|1,741,251|
|Additions|||||||
|Disposals|||||||
|**At 31 Mar 2023**|1,314,496|40,847|272,583|45,250|68,075|1,741,251|
|**Depreciation**|||||||
|At 1 Apr 2022|245,495|31,659|168,942|32,569|54,206|532,871|
|Charge for the|||||||
|year|18,937|8,170|54,516|11,312|13,868|106,803|
|Disposals|||||||
|**At 31 Mar 2023**|264,432|39,829|223,458|43,881|68,074|639,674|
|**Carrying amount**|||||||
|**At 31 Mar 2023**|1,050,064|1,018|49,125|1,369|1|1,101,577|
|At 31 Mar 2022|1,069,001|9,188|103,641|12,681|13,869|1,208,380|
## **17. Investments - Charity**
||**Investments**|**Investments**|
|---|---|---|
||**in Trading**||
||**Subsidiaries**||
||**£**||
|**Cost or valuation**|||
|At 1 April 2022||2|
|Additions|||
|**At 31 March 2023**||2|
|**Impairment**|||
|**At 1 April 2022 and 31 March 2023**|||
|**Carrying amount**|||
|**At 31 March 2023**||2|
|At 31 March 2022||2|
All investments shown above are held at valuation.
28
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **17. Investments - Parent Charity**
The company is the sole member of Colin Glen Leisure Limited and Colin Glen Landscapes Limited. All companies are incorporated in Northern Ireland and are limited by guarantee. They are all considered to be subsidiary undertakings of Colin Glen Trust by virtue of the fact that the company is the owns 100% of the share capital of each subsidiary undertaking.
The additional information required in respect of the subsidiary undertakings of the company is given below:
**Name Colin Glen Leisure Limited Colin Glen Landscapes Limited Country of** Northern Ireland Northern Ireland **Incorporation Shares in issue:** Limited by Shares Limited by Guarantee **Company number:** NI028995 NI047806 **Principal activity:** Leisure Activities Grounds Maintenance **Status:** Trading Company Trading Company **Charity number:** N/A N/A **Aggregate reserves at** £256 (£29,557) **31 March 2023 Surplus/(deficit) for the** (£19,702) £nil **year ended 31 March 2023**
29
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **18. Debtors**
|Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income
Other debtors|**Group**
**2023**
**£**
21,453
73,057
16,120
110,630|Group
2022
**Charity**
**2023**
Charity
2022
£
**£**
£
25,180
4,761
19,008
132,310
118,680
73,057
73,057
124,513
10,214
-
9,315
159,907
210,128
271,516|Group
2022
**Charity**
**2023**
Charity
2022
£
**£**
£
25,180
4,761
19,008
132,310
118,680
73,057
73,057
124,513
10,214
-
9,315
159,907
210,128
271,516|
|---|---|---|---|
||||271,516|
## **19. Creditors: amounts falling due within one year**
||**Group**|Group|**Charity**|Charity|
|---|---|---|---|---|
||**2023**|2022|**2023**|2022|
||**£**|£|**£**|£|
|Bank loans and overdrafts|19,992|86,667|19,992|19,992|
|Trade creditors|136,271|141,239|88,596|105,087|
|Accruals and deferred income|26,735|16,522|26,735|16,522|
|Social security and other taxes|31,155|19,724|14,287|8,843|
|Other creditors|27,142|7,974|2,405|641|
||241,295|272,126|152,015|151,085|
## **20. Creditors: amounts falling due after more than one year**
||**Group**|Group|**Charity**|Charity|
|---|---|---|---|---|
||**2023**|2022|**2023**|2022|
||**£**|£|**£**|£|
|Bank loans and overdrafts|880,035|844,550|46,675|66,675|
## **21. Pensions and other post retirement benefits**
## **Defined contribution plans**
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £13,077 (2022: £15,304).
30
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **22. Analysis of charitable funds**
## **Unrestricted funds**
|**Unrestricted funds**|||
|---|---|---|
|1
Unrestricted funds
Trading subsidiary funds
Unrestricted funds
1
Unrestricted funds
Trading subsidiary funds
Unrestricted funds|At
April 2022
Income
Expenditure
Transfers
**At**
**31 March 2023**
£
£
£
£
£
633,531
616,936
(926,176)
-
324,291
(9,599)
567,666
(587,368)
(29.301)
623,932
1,184,602
(1,513,544)
-
294,990
At
April 2021
Income
Expenditure
Transfers
**At**
**31 March 2022**
£
£
£
£
£
467,949
870,122
(706,252)
1,712
633,531
(47,241)
624,622
(586,980)
(9,599)
420,708
1,494,744
(1,293,232)
1,712
623,932||
|||623,932|
## **Restricted funds**
|1
Belfast City Council
EBA
Princes' Trust
Capital Funds
Urban Villages
Mountain Bike Trail
Tourism NI
BCC - Covid Recovery
Safe return
DAERA
Community Fund
Rural Tourism Capital
Grant|At
April 2022
Income
Expenditure
Transfers
**At 31**
**March 2023**
£
£
£
£
£
4,221
417
(417)
4,221
2,742
2,742
743,806
(30,992)
712,814
290,750
(2,937)
287,813
8,301
10,405
18,706
1,049,820
10,822
(34,346)
1,026,296|At
April 2022
Income
Expenditure
Transfers
**At 31**
**March 2023**
£
£
£
£
£
4,221
417
(417)
4,221
2,742
2,742
743,806
(30,992)
712,814
290,750
(2,937)
287,813
8,301
10,405
18,706
1,049,820
10,822
(34,346)
1,026,296|
|---|---|---|
|||1,026,296|
31
## **Colin Glen Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## **22. Analysis of charitable funds** _**(continued)**_
|1
Belfast City Council
EBA
Princes' Trust
Capital Funds
Urban Villages
Mountain Bike Trail
Tourism NI
BCC - Covid Recovery
Safe return
DAERA
Community Fund
Rural Tourism Capital
Grant|At
April 2021
Income
Expenditure
Transfers
At
31 March 2022
£
£
£
£
£
4,221
(234)
234
24
33,886
(31,168
2,742
774,798
(30,992)
743,806
(52)
52
293,687
(2,937)
290,750
24,924
(16,623)
8,301
7,563
(7,563)
1,998
(1,998)
150,000
(150,000)
10,000
(10,000)
25,701
(25,701)
1,072,444
254,072
(274,984)
(1,712)
1,049,820|
|---|---|
## _**Transfers**_
The transfers between funds relate to the removal of the restriction over capital assets purchased with restricted funding in the Capital Funds, transfer of restricted depreciation previously held as unrestricted on the Capital Funds and also the transfer of funding on the a number of projects that had been fully spent.
## _**Restricted funds notes**_
Colin Glen is based on an interface in West Belfast in an area of social deprivation. It has a charitable status and operates as a social enterprise which makes it ideally placed to provide outreach work on behalf of departments and statutory agencies. It is also within the remit of the Trust to provide world class recreational facilities for local people and as such has a mission to deliver a master plan of capital projects which will see the transformation of the facilities at Colin Glen; creating jobs, improved social capital and inward economic investment.
## _**BCC Everybody Active**_
This is to encourage targeted groups such as females, ethnic minorities and older people, into sport for a prolonged program of 12 weeks or more.
## _**Urban Villages Youth Programme**_
Aimed at providing a safe place and activities for young people ensuring that they are diverted away from possibly engaging in Anti-Social Behaviour.
## _**Mountain Bike Trail**_
Funded by DAERA and Sport NI to provide excellent facilities for the participation in sport in a rural setting.
32
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2023**
## _**BCC Get Into Golf**_
To encourage people to play Golf, which was experiencing a decline in numbers across the island.
## _**Capital Funds**_
The capital fund is for the property of Colin Glen which the Sport Council of Northern Ireland hold a charge over. The depreciation is released over the life of the asset.
## **23. Analysis of net assets between funds**
||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2023**|
||£|£|**£**|
|Tangible fixed assets|1,020,403|1,050,064|2,070,467|
|Current assets|333,511|38,638|372,149|
|Creditors less than 1 year|(178,889)|(62,406)|(241,295)|
|Creditors greater than 1 year|(880,035)|-|(880,035)|
|**Net assets**|294,990|1,026,296|1,321,286|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2022|
||£|£|**£**|
|Tangible fixed assets|1,129,110|1,069,001|2,198,111|
|Current assets|529,116|63,201|592,317|
|Creditors less than 1 year|(189,744)|(82,382)|(272,126)|
|Creditors greater than 1 year|(844,550)||(844,550)|
|**Net assets**|623,932|1,049,820|1,673,752|
## **24. Contingencies**
A contingent liability exists to repay grants and Trust monies received should certain conditions not be fulfilled by the charity. In the opinion of the Trustees, the terms of the Letters of Offers have been, or will be, complied with and no liability is expected.
## **25. Taxation**
The parent company is a registered charity, and as such is entitled to tax exemptions on income The trading subsidiaries have brought forward losses and therefore no tax liability has been incurred.
## **26. Related parties**
There were no related party transactions incurred during the year or within the prior year.
33