Colin Glen Trust
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
Restricted
funds Total funds Totsl funds
2023
Unrestricted
funds
Note
Income and endowments
Donations and leg￿leS
Charitable activities
Other trading activities
Other income
110.531
3,860
420,431
4.650
110.531
37.360
420,431
4.650
80,398
14.746
532.614
33.500
Total income
539,472
33.500
572.972
627.758
Expgnditure
Expenditure on raising funds..
Costs of other trading activities
Expenditure on charitable aclivities
Total expenditure
57,199
671.986
57.199
735.965
44.864
915,658
10,11
63.979
729,185
63,979
793.164
960,522
Net expenditure and net movement in
funds
(189.713)
(30.4791 (220.192) (332,7641
Reconciliation of funds
Total funds brought foNard
Total funds carried forward
324.291
1.026.296
1,350,587
1,683,351
134,578
995,817
1.130.395
1,350,587
The statement of financial activities includes all gains and losses recognised in the year.
All income and expendtture derive from continuing adivities.
The note5 on pages IS to 30 fomi part of these financlal slatements.
12

Colin Glen Trust
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Flxed assets
Intangible assets
Tangible fixed assets
Investments
16
29,475
17 1,070227
18
1.101,577
1,099,704
1,101,579
Current assets
Stocks
Debtors
Cash at bank and In hand
20
21
5.927
196,929
33.801
7,415
210.128
230.155
236.657
447.698
Creditors: amounts falling due wlthin one year
Net current assets
23
179.291
152.015
57.366
295,683
Total assets less current Ilabilitles
1.157.070
1,397,262
Creditors: amounts falling due after mre than one year
Net a55ets
24
26.675
46.675
1.130,395
1.350,587
Funds of the charity
Restricted funds
Unrestricted funds
995.817
134.578
1.026,296
324,291
Total charity funds
27 1.130,395
1,350,587
Th8S8 financial 5tatsments have been prepared in acC￿dance with the provision5 apFAicable to
companies subject to the small companies. regime.
These financial statements were approved by the board of trustees and authori5ed for issue ￿ 3
December 2024. and are sigred on behalf of the b)ard by.
Ms S Cavanagh
Trustee
The notes on pages 15 to 30 fom) part of these financial ststem¢Dts.
13

Colin Glen Trust
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
Note
Cash flows from operating activities
Net expenditure
(220.192) 1332.764)
Adjustments for.
Depreciation of tangible fixed assets
Accrued (incomeyexpenses
40.772
(2.729)
106.803
61.669
Changes in..
StoGks
Trade and other debtors
Trade and othw credttors
1,488
5.773
36.202
14,305)
9.932
19,283)
(138.686) (167,948)
(138,686) (167,948)
Cash generated from operations
Net cash used in operating activities
Cash flows from investing actfvities
Purchase of tangible assets
Purchase of intsngible assets
Net cash used in investing activities
(9.422)
(29,475)
(38,897)
Cash flows from financing activities
Proceeds from borrowings
Net cash used in financing activities
(18,771)
(18,771)
(20,000)
(20,000)
Net decrease in cash and cash equivalents
Cash and cash equivalenls at beginning of year
Cash and cash equivalents at end of year
(196.354) {187,948)
230.155
418,103
230.155
33,801
The notes on pages 15 to 30 fomi part of these financial statements.
14

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
General inforn￿tIon
The charty is a public benefft entty and a private company limited by guarantee. registered in
Northern Ireland and a registered charty in Northern Ireland. The address of the registered office
is 163 Stewartstown Road, Belfast. Co. kntrim. BT17 OHW.
ststement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting StaThJard applicable in the UK and the ReputAic of Ireland,, the Statement of
Recommended Practi￿ applicable to chaTities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities
SORP (FRS 102)). fhe Charities Act (Northem Ireland) 2008 and the Companies Act 2006.
Cdin Glen Trust meets the definition of a putAic benefrt entity under FRS 102.
Accounting policies
Basis of preparallon
The financial statements have been pyepared 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 p￿Pared in sterlirvJ, which ts the functional cjjrrency of the entty.
Going concern
There are no material uncertainlies ab(Krt the charty's abilty to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial staternents requires management to make judgements, estimates
and assumptions that affect Ihe amounts reported. These estimates and judgements are
continually reviewed and are based on experien￿ and other factors, including expectations of
future events that are believed to be ￿asOnable under the ctrcumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designatsd funds a￿ unrestricted funds eamiarked by the trustees for partTrcular future prciect or
commitment.
Restricted fund5 are subjected to restrictiorts on their expenditure declared by the donor or through
the temis of an appeal, and fall into one of two sub-classes: restricted ino)me funds or endowment
fvnds.
15

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (conlinued)
Year ended 31 March 2024
Accounting policies (conunuedj
In¢oming 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 benefrts assouated wtth the transaction will
flow to the charity and the amounl can be reliably Measu￿1. The follt)wing specific policies are
applied to particular categorbes of income:
income from donations or grants is recognised when there is evidence of 8ntidement to the
gift. recebpt is probable and its amount be measured reliably.
legacy income is recognised when receipt 15 probable and entitlement is established.
income from donated g(x)ds 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 facilitie5 and services are recognised in the accounts
when received rf the value can be reliably measured. No arrM)unts are included for the
contribution of general volunteers.
income from contracts for the supply of serVi￿S is r￿nISed with the delivery of the
contracted servi￿. This is dassffied as unrestricted funds unless there is a contractLSal
requirement for it to be spent on a particular purpose and retumed if unspent. in which case
it May be regarded as restricted.
Resources expended
Expenditure 15 recognised on an accruals basis as a liability is incurred. Expenditure indudes any
VAT which cannot be fully recovered, and is dassified under headings of the statement of financial
activities to which it relates..
expenditure on raising funds irKludes the wsts of all fundraisirvJ activities. events. non-
charitable trading actiwties, and Ihe sale of donated goods.
expenditure on Gharitable activities includes all costs incurred by a charity In undertaking
activities that further its charitable aims for the benefrt of its beneficiaries. including those
support costs and costs relating to the govemance of the charty apportioned to charitsble
activities.
other expenditu￿ includes all expenditu￿ Ihal is neither related to raising fvnds forthe charity
nor part of its expenditure on charitable activiti&s.
All costs are allocated to expendilure categories reflecting the use of the resource. Direct costs
attributable to a single activty are allocated direcly to that activty. Shared costs are apportioned
be￿een the activities they Gontribuie to on a reasonable. justifiable and consistent basis.
16

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
Accounting policies (¢ontlnued)
Intangible assets
Intsngible assets are inrbally recorded at cost, and are subsequently stated at C05t less any
accumulated amortisation and impairment losses. Any intangible assets carried at revalued
amounts. are recorded at the fair value at the date of revaluation, as determined by reference to
an active market. less any subsequent accumulated amLYtisation and subsequent accumulated
impaimient losses.
Intangible assets acquired as part of a business combination a￿ only recognised separately from
goodwll when they arise frorn contraclual or other legal rights, are separable, the expected future
economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequentty stated at cost less any accumulated
depreciation and impaiment losses. Any tangible assets carried at revalued amounts are re￿rded
at the fair value at the date of revaluation less any subsequent ac()Jmulated 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
recconised gains and losses. unless tt reverses a charge for impairment that ha5 previously been
recc*Jnised as expenditure wtlhin the ststement of finanoal activities. A decrease in the carrying
arnount of an asset as a resutt of revaluation, is recojnised 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 actiwties.
Colin glen trusvs depreclatlon policy changed from reducing balance fflethod to straight
line method from 1st April 2019.
Depreciation is calculated so as to wrrie off the cost or valuation of an asset. less its residual value.
over the usefvl economic life of th* asset as fdlows:
Freehold propety
Plant and equipment
Fixtures and ffttings
Motor vehicles
Computer equipment
1%12% straight fine
2￿/0 reducing balance120% straight line from 2019120
straight line
250A straight line
25% straight line
Investments
Unlisted equity investrnenls are initrally recor(led al cost, and subsequently measured at fair value.
If fair value cannot be reliably measured. assets are measured at cost less impaimient.
Listed investments are measured at fair value with changes in fair value being recognised in
income or expenditure.
17

Colin Glen Trust
Company Limited by Guarantee
Notes to the Flnanclal Statements (contrIu￿)
Year ended 31 March 2024
Accounting policies fconeinu•d)
Investments In associates
Investments in associates accounted for in aco)rdance with the cost m¢JJel are recorded at cost
less any accumulaled impaimient losses.
Investments in associates accounted for in accordance wf(h the fair value model are initially
recorded at the transaction price. At each rewrting date. the investments are measured at fair
value, wth changes in fair value taken through income or expenditure. Where it is impracticable to
measure fair value reliably without undue cost or effort. the cost model will be adopted.
Dividends and other distrtbutions received from the investment are recognised as income without
regard to whether the distributions are from accumulated profits of the associate arising before or
after the date of acquisition.
Investments in joint venlures
Investments in joinly controlled entities accounted for in accordance with the cost Mc￿e1 are
recorded at cost less any accurnulated impaimient losses.
Investments in jointly controlled entities accounted for in accordan￿ the fair value model are
initially recorded at the transaction price. At each reporting date, the investments are measured at
fair value. with changes in fairvalue taken through income or expenditure. Where it is impr&ticable
to measure fair value reliably without undue cost or efforL the cost model will be adopted.
Dividends and other distributions received frorn the investmenl are rec•ognised as income wthoul
regard to whether the distributions are from accumulated profits of the joint venture arising before
or after the date of acquisition.
Impairment of fixed assets
A review for indicators of irnpairment is carried OLrt at each reporting date, with the recoverable
amount being estimated where such indicators exisL Where the carying value exceeds the
recoverable amount. the asset is impaired accordingly. Prior impairments are also reviewed for
FK)ssible reversal at each reporbng date.
For the purwses of impaimient tesb'ng. Wh￿ it is not possible to estimate the recoverable amounl
of an individual asset. an estimate is made of the recoverable amount of the cash-generating unit
to which the asset belongs. The cash-generating untt is the smallest identifiable group of assets
that includes the asset and generates cash infiows Ihat largely independent of the cash inflows
from other assets or groups of assets.
For impaimient lesting of goothvill. the goo(Iwill acquired in a business combination is, from the
acquisition date. allocated to each of the cash-generating units that are expected to ￿nerrt from
the synergies of the combination. irrespective of whether other assets or liabilities of the charity
are assigned to those units.
18

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (¢ontinuedJ
Year ended 31 March 2024
Accounting policies (continu•dJ
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 ox)nversK)n an(J other costs incurred in bringing
the stcck to tts present location and condf(ion.
Financial instruments
A financial asset or a finanaal liability is recognised only when the charity becornes a party to the
contractual provisions of the instrument.
Basic finanrial instruments are initialty recognised at the amount receivable or payable including
any related transaction costs.
Current assets and Cu￿ent liabilities are subsequently measured at the cash orother consideration
expected to be paid or receNed and not discounted.
Debt instruments are subsequenty measured at amortised cost.
Where investments in shares are publicly traled 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. ￿1 other such investments are subsequently measured at
cost less impainnent.
Other financial instruments. including derivatives. are initially recognised at fair value. unless
payment for an asset is defeffed beyond nomial business terms or finan￿d 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 financhal instruments are Subsequent￿ measured at fair value. with any changes recognised
in the statement of financial actsvities. with the eX￿ptIon of hedging instruments in a designated
hedgiro relationship.
Financial asset5 thal 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 ststement of financial acb'vitie5
in which the inilial gain was recognised.
For all equity instruments regardless of signrficance. and other financial assets that are individually
significant. these are assessed indwidually for impaiment. Other financial assets are either
assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impaimient are reci)Jnised immediately. to the extent that the reversal does not
sult in a carying amount of the financial asset that eX￿ed9 what the carrying amount would
have been had the impaiment not previously been recognised.
19

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continu•d)
Year ended 31 March 2024
Accounting policies (contsnued)
Deflned contrlbution plans
Contributions to defined contrrtmjtion plans are recognised as an expense in the period in which
the related service is prowded. 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 setlled wholly within 12 rnC￿ths 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.
Llmlted by guarantee
Colin Glen Trust is a company limited by guarantee arKI accordingly dc*s not have a share capital.
Every member of the company urKlertskes to contribute such amount as may be required not
exceeding £1 to the assets ofthe charitable company in the event of its being wound up while he
or she is a member. or wtthin one year after he or she ￿aSe$ to be a member.
Donatlons and legacies
Unrestricted Total Funds Unreslricted Total Funds
Funds
2024
Funds
2023
Donations
Donations
Covenanted Donation
183
110.348
183
110,348
611
79,787
611
79,787
110,531
110,531
80,398
80,398
Charitable activities
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Gruffalo Merchandi58
TNI Marketing Grant
Belfast City Council - Every Body Active
Dormant Accounts
3,860
3.860
33.500
33,500
3.860
33,500
37,360
20

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (wilinvedj
Year ended 31 March 2024
Charitable actlvities {¢OntIn￿￿)
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Gruffalo Merchandise
TNI Marketing Grant
Belfast City Council - Every Body N£tive
Dormant Accounts
3,924
3,924
10.405
417
10,405
417
3,924
10,822
14.746
Othér tradlng adivities
Unreslricted Total Funds Unreslricted Totsl Funds
Funds
2024
Funds
2023
Shop income
Hall and office rental
Cafe Rental
Enlrance fees
Skytrek
Archery
Calering
Santa sales
Laser tag
Gym 10
Swoky Glen
Vouchers
Vending machine sales
Mountain Adventu￿ Package
River Adventure Package
Thrill Seekers
Alpine Coaster {BBR)
Zip Line IFFO)
Team games
17,054
4,242
2.411
20.000
46.791
6.841
3.036
5,753
15.414
17,054
4,242
2,411
20.000
46.791
6,841
3.036
5,753
15.414
20,451
4,333
2.411
43.254
61.011
7,696
5,183
10,434
18.690
120
20,451
4.333
2,411
43,254
61.011
7.696
5,183
10,434
18.6
120
33
33
167
5,191
74,917
2,350
11,582
148.850
111,724
4,250
167
5.191
74,917
2,350
11,582
148,850
111,724
4,250
4.777
61,450
2,075
7.373
143.778
78.361
1,042
4,777
61.450
2.075
7,373
143.778
78,361
1,042
420.431
420,431
532.614
532,614
Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Gain on disposal of tangible fixed
assets held for charity's own use
4,650
4.650
21

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements Icontinuedj
Year ended 31 March 2024
Costs of other tradlng actlvities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Costs of other trading activities- Sh
costs
57.199
57.199
44,864
44,864
10. Expendituro on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Provision of recreational & educational activities
Support costs
526,322
145,664
63,979
590,301
145,664
735,965
671,986
63,979
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Provision of recreational & educatiwbal activities
Support costs
729,287
152,025
34,346
763,633
152,025
881,312
34,346
915,658
11. Expendlture on charitable acllvities by activity type
Activitie5
undertaken
directly Support costs
Total fvnds
2024
Total fund
2023
Provision of recr8ational & educational
activities
Govemance costs
590.301
113,451
32.213
703,752
32.213
894,369
21.289
590.301
145.664
735,965
915,658
12. Analysis of support costs
Analysis of
support costs Total 2024 Total 2023
Staff costs
General office
Govemance costs
89.210
24,241
32.213
89,210
24.241
32.213
109,626
21,110
21.289
145.664
145.664
152,025
22

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (￿￿tinued)
Year ended 31 March 2024
12. Analysis of support costs (¢ontlnu¢d)
The basis of allocation of support costs to activities is as follows..
- Staff costs.. Staff time
- General Offi￿.. Transactions
- Governan￿. Transactions
- Finance costs: Transactions
13. Net expenditure
Net expenditure is stated after chargin￿{Cred((ing).
2024
2023
Depreciation of tangible fixed assets
Gains on disposal of tangible fixed assets
Fees payable the audit of the financial statements
40.772
{4,650)
6,452
106,803
5.164
14. Staff costs
The total stsff costs and employee beneffts for the reporting period are analysed as follows..
2024
2023
Wages and salaries
Social security costs
Employer contributions to pension plans
436.810
24,458
12,371
507,207
26,428
12,403
473,639
546,038
The average head count of employees during the year was 11 (2023-. 9).
The number of employees whose remuneration for the year fell within the following bands, were:
2024
2023
No.
£80,000 to £89,999
£90,000 to £99.999
Key Managemerrt Personnel
Key management personnel include all persons that have authority and responsibility for planning.
directing and controlling the aCtivit￿S of the charity. The trjtal compensation paid to key
management personn81 for servic8s provided to the charity was £96.345 {2023:£87.441).
23

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (cortin
Year ended 31 March 2024
15. Trustee remuneration and expenses
No remuneration or other ben8ffts from eMploym￿t with the charity or a related entity were
received by the trustees.
16. Intangible assets
Webslte
Cost
Website
29,475
At 31 March 2024
29,475
Amortlsallon
At 1 April 2023 and 31 March 2024
Carying amount
At 31 March 2024
29,475
At 31 March 2023
17. Tangible fixed assets
Freehokj Plant and Fixtu￿$ and
propety machinery
fittings
Motor
vehides Equipment
Total
Cost
At 1 Apr 2023
Additions
DisFosals
At 31 Mar 2024
1.314.496
40.848
272,583
6.309
45.250
68.074 1.741.251
3,113
9,422
(5,250)
71,187 1,745.423
15,250)
40.000
1,314.496
40.848
278.892
Depreciation
At 1 Apr 2023
Charge for the
year
Disposals
At 31 Mar 2024
264,432
39,829
223.457
43.882
68.074
639.674
18.936
1,019
18.469
1.368
(5,250)
40,000
980
40.772
(5,250)
675.196
283,368
40,848
241,926
69,054
Carrying amount
At 31 Mar 2024
1,031,128
1,050,064
36.966
2,133 1,070.227
At 31 Mar 2023
1.019
49.126
1.368
1.101.577

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (wilinuedj
Year ended 31 March 2024
18. Invostments
Other
investments
Cost or valuation
At 1 April 2023
Additions
At 31 March 2024
Impainnent
At 1 April 2023 and 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023
All investm8nts shown above are held at valuation.
19. Investment entllles
Subsidiaries and other investments
Percentage of
Class of share shares hekl
Subsidiary undertakings
Colin Glen Leisure. 163 Stewartstown Road. Belfas(
BT17 OHW
Colin Glen Landscapes. 163 Stewartstown Road.
Belfast, BT17 OHW
1C(I
1C(I
20. Stocks
2024
2023
Raw materials and consumables
5,927
7.415
21. Debtors
2024
2023
Trade debtors
Arnounts owed by group undertakings
Prepayments and accrued income
3,555
126,289
67.085
4.761
132,310
73,057
210,128
196,929
25

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (eontiftu
Year ended 31 March 2024
22. Cash and cash equivalents
Cash and cash equivalents comprise the following:
2024
2023
Cash at bank and in hand
Bank overdrafts
33.801
{1.229)
32.572
230,155
230,155
23. Credltors: amounts falling due wlthln one year
2024
2023
Bank loans and overdrafts
Trade creditors
Accruals and deferred income
Social security and other taxes
Other creditors
21.221
118.083
12.830
9.533
17.624
19,992
88,596
26,735
14,287
2.405
179.291
152.015
24. Creditors: amounts falllng due after more than one year
2024
2023
Bank loans and overdrafts
26.675
46.675
25. Deferred income
2024
2023
At 1 April 2023
Amount released to income
Amount defe￿ed in year
At 31 March 2024
(3.750)
3.750
9.270
{9,270)
3,750
3,750
26. Pensions and other post retirement benefits
Deflned contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution
plans was £12,371 (2023: £12,403).
26

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (conlinueo)
Year ended 31 March 2024
27. Analysis of charitablo funds
Unrestricted funds
At
1 April 2023
At 31 March
2024
Income Expenditure
Transfers
Unrestricted funds
Capital fund
324,291
539,472
(729.185)
134.578
324.291
539.472
{729.185}
134.578
At
1 April 2022
At 31 March
2023
Income ExpeThJiture
Transfers
Unrestricted furmjs
Capital fvnd
618.812
14.719
616,936
{926.176}
14.719
(14,719)
324,291
633.531
616.936
(926,176)
324,291
Restricted funds
At
1 April 2023
At 31 March
2024
IncLxne ExpeThJiture
Transfers
Belfast City Council
Princes. Trust
Capital Funds
Mountain Bike Trail
Tourism Nl
Dormant Accounts Fund
4.221
2,742
712,814
287.813
18.706
4.221
2,742
684.301
284,935
18.706
912
(28.513)
(2,878)
33.500
(32,588)
(63,979}
1.026,296
33.500
995.817
At
1 April 2022
At 31 March
2023
Income Expenditure
Transfers
Belfast Cty Council
Princes. Trust
Capital Funds
Mountain Bike Trail
Tourism Nl
Dormant Accounts Fund
4.221
2.742
743.806
290.750
8.301
417
(417)
4.221
2.742
712.814
287.813
18,706
(30.992)
(2.937)
10,405
1,049.820
10.822
(34,346)
1.026,296
27

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
27. Analysis of charitable funds feofttinu•d)
Transfers
The transfers between funds relate to the removal of the restriction over capf(al 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 a number of projects that had
been fulty spent.
Restricted funds notes
Colin Glen is based on an interface in West Bdfast in an area of social deprivatK)n. tt has a
charitable status and operates as a social enterprise which makes il ideally placed to provide
outreach work on behatf of departments and stalutory agencie5. 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 transfomiation of the facilities at Colin
Glen., creating jobs, improved sociat capital and inward economic investment.
BCC (Everybody Activej
This is to encourage targeted groups SLKh as females. ethnic minorities and older people, into
sporl for a prolonged program of 12 weeks or more.
Urban Willages-You¢h Pmgramme
Aimed at providing a safe place and activities for young people ensuring that they are diverted
away from Fxjssibty eTrJaging in hnti-social Behaviour.
Mountain Bike Trail
Funded by DAERA and Spcrt Nl to provide exc*llent facilities for the participation in sport in a rural
setting.
BCC- Get Into Golf
To encourage people to play Golf, wthich was experiencing a dedine in nUrn￿rs acxoss the island.
Capital Funds
The capital fund is for 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.
28

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financlal Statements (cortinued)
Year ended 31 March 2024
28. Analysis of net assets ljetween funds
Unrestricted
Funds
Restricted Total Funds
FurKJs
2024
Sntangible assets
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
29.475
39,099
29,475
1.070.227
1.031,128
213.080
(121,109)
(25.969)
134,578
23,577
236,657
(58,182) (179,2911
(706)
(26,6751
995,817
1,130.395
Unrestricted
Funds
Restricted Totsl Funds
Funds
2023
Intangible assets
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
51.513
1.050,064
1.101,577
329,273
{89,609)
(46,675>
244.504
38.638
367,911
(62.406) (152.015)
146,675)
1,270,800
1,026.296
29. Corporation taxation
The Company is a registered chartty, and as such is entitled to tax exemptions on income and
profits in furtherance of the charity's primary obj'ectives.
30. Ethical standards
In common with many olher businesses of our size and nature we use our auditors lo prepare and
submit retums to the tax aLthoritses and assist wtth the preparation of the financial statements.
29

Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (witinuedj
Year ended 31 March 2024
31. Anatysis of changes in not debt
At
At 1 Apr 2023 Cash flcyNs 31 Mar 2024
Cash at bank and in hand
Bank overdrafts
Debt due within one year
Debt due after one year
230,155
(196.354)
(1.229)
33,801
{1,229)
(19,992)
126,675)
(14,095)
(19.992)
{46.675)
163.488
20.000
{177.583)
32. Contingencies
A contingent liability exists to repay grants r￿1Ved should ￿rtain conditions not be fulfilled by the
charity. In the opinion of the Trustees. the terms of the letters of offer have been, or will be,
complied with and no liability is expected.
33. Related parties
There were no related party transactions during the year.
30