Colin Glen Trust
Company Limited by Guarantee
Consolidated Statement of Financial Activities (including consolidated income and expenditure account)
31 March 2025
| GROUP | 2025 | 2024 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||
| funds | funds | Total funds | Total funds | |||
| Note | £ | £ | £ | £ | ||
| Income and endowments | ||||||
| Donations and legacies | 5 | 93,183 | 93,183 | 183 | ||
| Charitable activities | 6 | 3,635 | 37,500 | 41,135 | 37,360 | |
| Other trading activities | 7 | 1,349,776 | 1,349,776 | 1,107,207 | ||
| Other income | 8 | - | 4,650 | |||
| Total income | 1,446,594 | 37,500 | 1,484,094 | 1,149,400 | ||
| Expenditure | ||||||
| Expenditure on raising funds: | ||||||
| Costs of other trading activities | 9 | 854,569 | 854,569 | 624,302 | ||
| Expenditure on charitable activities | 10/11 | 655,173 | 34,893 | 690,066 | 735,965 | |
| Total expenditure | 1,509,742 | 34,893 | 1,544,635 | 1,360,267 | ||
| Net income/(expenditure) and net | (63,148) | 2,607 | (60,541) | (210,867) | ||
| movement in funds Transfer |
30,883 | (30,883) | - | |||
| Reconciliation of funds | ||||||
| Total funds brought forward | 114,602 | 995,817 | 1,110,419 | 1,321,286 | ||
| Total funds carried forward | 82,337 | 967,541 | 1,049,878 | 1,110,419 |
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 2025
| GROUP | Group | Group | Charity | Charity | |
|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Intangible assets | 16 | 35,190 | 29,475 | 35,190 | 29,475 |
| Tangible fixed assets | 17 | 1,960,896 | 2,021,443 | 1,026,656 | 1,070,228 |
| Investments | 18 | 2 | 2 | ||
| ------------------------- | ------------------------ | ------------------------- | ------------------------- | ||
| Total fixed assets | 1,996,086 | 2,050,918 | 1,061,848 | 1,099,705 | |
| Current assets | |||||
| Stocks | 9,295 | 14,065 | 5,927 | 5,927 | |
| Debtors | 19 | 204,779 | 116,136 | 262,271 | 196,929 |
| Cash at bank and in hand | 28,997 | 99,632 | 28,997 | 33,801 | |
| ------------------------- | ----------------------- | ------------------------- | ------------------------- | ||
| Total current assets | 243,071 | 229,833 | 297,195 | 236,657 | |
| Creditors: amounts falling due | |||||
| within one year | 20 | 370,401 | 320,486 | 265,082 | 179,291 |
| ---------------------- | -------------------- | ------------------------ | ----------------------- | ||
| Net current assets | (127,330) | (90,653) | 32,113 | 57,366 | |
| ---------------------- | -------------------- | ----------------------- | ----------------------- | ||
| Total assets less current liabilities | 1,868,756 | 1,960,265 | 1,093,961 | 1,157,070 | |
| Creditors: amounts falling due after | |||||
| more than one year | 21 | 818,878 | 849,846 | 7,896 | 26,675 |
| ---------------------- | ----------------------- | ----------------------- | ------------------------- | ||
| Net assets | 1,049,878 | 1,110,419 | 1,086,065 | 1,130,395 | |
| =============== | ================ | =============== | ================= | ||
| Funds of the charity | |||||
| Restricted funds | 967,541 | 995,817 | 967,541 | 995,817 | |
| Unrestricted funds | 82,337 | 114,602 | 118,524 | 134,578 | |
| ------------------------- | ------------------------- | ----------------------- | ------------------------ | ||
| 23 | 1,049,878 | 1,110,419 | 1,086,065 | 1,130,395 | |
| ================= | ================ | ================= | ================ |
15
Colin Glen Trust
Company Limited by Guarantee
Company Statement of Financial Position
Year ended 31 March 2025
| COMPANIES | 2025 | 2024 | |
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 17 | 934,238 | 951,216 |
| 934,238 | 951,216 | ||
| Current assets | |||
| Stocks | 20 | 3,368 | 8,138 |
| Debtors | 21 | 73,609 | 97,732 |
| Cash at bank and in hand | - | 65,831 | |
| 76,977 | 171,701 | ||
| Creditors: amounts falling due within one year | 23 | 236,420 | 319,722 |
| Net current assets | (159,443) | (148,021) | |
| Total assets less current liabilities | 774,795 | 974,896 | |
| Creditors: amounts falling due after more than one year | 24 | 810,982 | 823,171 |
| Net assets/liabilities | (36,187) | 151,725 | |
| Funds of the charity | |||
| Unrestricted funds | (36,187) | 151,725 | |
| Total funds | 24 | (36,187) | 151,725 |
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 10[th] March 2026, and are signed on behalf of the board by:
Ms Ms S Cavanagh 3Cavanagh Comedy Trustee Trustee
The notes on pages 18 to 35 form part of these financial statements.
16
Colin Glen Trust
Company Limited by Guarantee
Consolidated Statement of Cash Flows
Year ended 31 March 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income/(expenditure) | (60,541) | (210,867) |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 75,941 | 59,946 |
| Loss on disposal of tangible fixed assets | - | - |
| Capital Grant Release | - | - |
| Accrued Income | 377 | (2,729) |
| Changes in: | ||
| Stocks | 4,770 | 608 |
| Trade and other debtors | (40,471) | (48,248) |
| Trade and other creditors | (37,476) | 113,244 |
| Cash generated from operations | (57,400) | (88,046) |
| Net cash used in operating activities | (57,400) | (88,046) |
| Cash flows from investing activities | ||
| Purchase of tangible assets | (15,392) | (10,922) |
| Proceeds from sale of other investments | (5,715) | (29,475) |
| Net cash from investing activities | (21,107) | (40,397) |
| Cash flows from financing activities | ||
| Proceeds from borrowings | (66,197) | (18,771) |
| Net cash from financing activities | (66,197) | (18,771) |
| Net (decrease)/increase in cash and cash equivalents | (144,704) | (147,214) |
| Cash and cash equivalents at beginning of year | 99,632 | 246,846 |
| Cash and cash equivalents at end of year | (46,301) | 99,632 |
17
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2025
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
These financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence. The validity of this assumption depends on being able to secure additional funding to cover recurring deficits and closure of trading income streams in 25/26 for a period of time. The balance sheet shows net assets in the Charity of £1,086,065 however £1,026,656 is tied up in tangible fixed assets.
Colin Glen Leisure (the Company) owes £90,645 to Colin Glen Trust (the Charity), however it is noted that the Company may be unable to settle this amount. The Company was in a net liability position on the balance sheet at 31 March 2025. These conditions give rise to a material concern.
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.
18
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
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.
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.
19
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
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 |
20
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
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.
21
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
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.
22
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
5. Donations and legacies
| Charity | Unrestricted | Total | Funds | Unrestricted | Total Funds | Total Funds |
|---|---|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |||
| £ | £ | £ | £ | |||
| Donations | ||||||
| Donations | 169 | 169 | 183 | 183 | ||
| Covenanted Donation | 93,014 | 93,014 | 110,348 | 110,348 | ||
| 93,183 | 93,183 | 110,531 | 110,531 | |||
| GROUP | Unrestricted | Total | Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |||
| £ | £ | £ | £ | |||
| Donations | ||||||
| Donations | 169 | 169 | 183 | 183 | ||
| 169 | 169 | 183 | 183 |
6. Charitable activities
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Gruffalo Merchandise | 3,635 | 3,635 | |
| Belfast City Council | 4,000 | 4,000 | |
| Dormant Accounts | 33,500 | 33,500 | |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| 3,635 | 37,500 | 41,135 | |
| ================================ | ================================ | ================================ |
23
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
6. Charitable activities (continued)
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Gruffalo Merchandise | 3,860 | 3,860 | |
| Belfast City Council - Every Body Active | |||
| Dormant Accounts | 33,500 | 33,500 | |
| 3,860 | 33,500 | 37,360 |
24
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
7. Other trading activities
| Total | Total | |||
|---|---|---|---|---|
| Unrestricted | Funds | Unrestricted | Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Shop income | 24,391 | 24,391 | 17,054 | 17,054 |
| Hall and office rental | 3,283 | 3,283 | 4,242 | 4,242 |
| Cafe Rental | 2,411 | 2,411 | 2,411 | 2,411 |
| Hire of Equipment/ Forest Pack | 583 | 583 | - | - |
| Entrance fees | 90,186 | 90,186 | 20,000 | 20,000 |
| Skytrek | 47,055 | 47,055 | 46,791 | 46,791 |
| Archery | 7,237 | 7,237 | 6,841 | 6,841 |
| Catering | 4,308 | 4,308 | 3,036 | 3,036 |
| Santa sales | 25,119 | 25,119 | 5,753 | 5,753 |
| Laser tag | 15,804 | 15,804 | 15,414 | 15,414 |
| Spooky Glen | - | - | 33 | 33 |
| Vouchers | 1,017 | 1,017 | ||
| Transport | 133 | 133 | ||
| Vending machine sales | 2,726 | 2,726 | 4,777 | 4,777 |
| Mountain Adventure Package | 39,770 | 39,770 | 61,450 | 61,450 |
| River Adventure Package | 2,317 | 2,317 | 2,075 | 2,075 |
| Thrill Seekers | 8,276 | 8,276 | 7,373 | 7,373 |
| Alpine Coaster (BBR) | 177,204 | 177,204 | 143,778 | 143,778 |
| Zip Line (FFO) | 75,466 | 75,466 | 78,361 | 78,361 |
| Multi Activity Pass (Zip&Coaster) | 61,609 | 61,609 | - | - |
| Team games | 791 | 791 | 1,042 | 1,042 |
| Income from Trading Subsidiaries | 760,090 | 760,090 | 686,776 | 686,776 |
| 1,349,776 | 1,349,776 | 1,107,207 | 1,107,207 |
8. Other income
Gain on disposal of tangible fixed assets held for charity's own use
| Unrestricted | Total | Unrestricted | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2025 | 2024 | |||
| £ | £ | £ | £ | |
| - | - | 4,650 | 4,650 | |
| - | - | 4,650 | 4,650 |
25
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
9. Costs of other trading activities
| Unrestricted | Total | Unrestricted | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2025 | 2024 | |||
| £ | £ | £ | £ | |
| Costs of other trading activities | 78,268 | 78,268 | 63,979 | 63,979 |
| - Shop costs | ||||
| Costs of trading subsidiaries | 776,301 | 776,301 | 671,986 | 671,986 |
| 854,569 | 854,569 | 735,965 | 735,965 |
10. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Provision of recreational & educational activities | 516,612 | 34,893 | 551,505 |
| Support costs | 138,561 | - | 138,561 |
| 655,173 | 34,893 | 690,066 | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Provision of recreational & educational activities | 526,322 | 63,979 | 590,301 |
| Support costs | 145,664 | - | 145,664 |
| 671,986 | 63,979 | 735,965 |
11. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly | Support costs | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Provision of recreational & educational | ||||
| activities | 551,505 | 98,059 | 649,564 | 703,752 |
| Governance costs | 40,502 | 40,502 | 32,213 | |
| 551,505 | 138,561 | 690,066 | 735,965 |
26
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
12. Analysis of support costs
| Analysis of | |||
|---|---|---|---|
| support costs | Total 2025 | Total 2024 | |
| £ | £ | £ | |
| Staff costs | 75,883 | 75,883 | 89,210 |
| General office | 22,176 | 22,176 | 24,241 |
| Governance costs | 40,502 | 40,502 | 32,213 |
| 138,561 | 138,561 | 145,664 |
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):
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible fixed assets | 57,183 | 40,772 |
| Gains on disposal of tangible fixed assets | - | (4,650) |
| Fees payable for the audit of the financial statements | 15,702 | 6,452 |
27
c c UJ (u c
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
16. Intangible assets
| Website | |
|---|---|
| £ | |
| Cost | |
| Website | 29,475 |
| Additions | 5,715 |
| At 31 March 2025 | 35,190 |
| Amortisation | |
| At 1 April 2024 and 31 March 2025 | - |
| Carrying amount | |
| At 31 March 2025 | 35,190 |
| At 31 March 2024 | 29,475 |
17. Tangible fixed assets - Group
| Freehold | Plant and | Fixtures & | Motor | Equipment | Total | |
|---|---|---|---|---|---|---|
| property | Machinery | Fittings | vehicles | |||
| £ | £ | £ | £ | £ | £ | |
| Cost | ||||||
| At 1 April 2024 | 2,511,693 | 105,783 | 335,134 | 40,000 | 71,187 | 3,063,797 |
| Additions | 5,567 | 9,825 | 15,392 | |||
| Disposals | ||||||
| At 31 March 2025 | 2,511,693 | 105,783 | 340,701 | 40,000 | 81,012 | 3,079,189 |
| Depreciation | ||||||
| At 1 April 2024 | 546,053 | 105,783 | 281,465 | 40,000 | 69,054 | 1,042,355 |
| Charge for the year | 29,623 | 45,669 | 649 | 75,941 | ||
| Disposals | ||||||
| At 31 March 2025 | 575,676 | 105,783 | 327,134 | 40,000 | 69,703 | 1,118,296 |
| Carrying amount | ||||||
| At 31 March 2025 | 1,936,017 | 13,567 | 11,309 | 1,960,893 | ||
| At 31 March 2024 | 1,965,640 | 53,669 | 2,133 | 2,021,442 |
29
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
17. Tangible fixed assets Charity
| Cost At 1 Apr 2024 Additions Disposals At 31 Mar 2025 Depreciation At 1 Apr 2024 Charge for the year Disposals At 31 Mar 2025 Carrying amount At 31 Mar 2025 At 31 Mar 2024 |
Freehold property Plant and machinery Fixtures and fittings Motor vehicles Equipment £ £ £ £ £ 1,314,496 40,848 278,892 40,000 71,187 3,787 9,825 1,314,496 40,848 282,679 40,000 81,012 283,368 40,848 241,926 40,000 69,054 15,781 40,753 649 299,149 40,848 282,679 40,000 69,703 1,015,347 11,309 1,031,128 36,966 2,133 |
Total £ 1,745,423 13,612 |
|---|---|---|
| 1,759,035 | ||
| 675,196 57,183 |
||
| 732,379 | ||
| 1,026,656 | ||
| 1,070,227 |
18. Investments - Charity
| Investments | Investments | |
|---|---|---|
| in Trading | ||
| Subsidiaries | ||
| £ | ||
| Cost or valuation | ||
| At 1 April 2024 | 2 | |
| Additions | ||
| At 31 March 2025 | 2 | |
| Impairment | ||
| At 1 April 2024 and 31 March 2025 | ||
| Carrying amount | ||
| At 31 March 2025 | 2 | |
| At 31 March 2024 | 2 |
All investments shown above are held at valuation.
30
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
18. 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 Country of Northern Ireland Incorporation
Colin Glen Landscapes Limited
Northern Ireland
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
N/A (£29,557)
Aggregate reserves at (£6,630) 31 March 2025
Surplus/(deficit) for the (£16,211) year ended 31 March 2025
£nil
19. Debtors
| Trade debtors Amounts owed by group undertakings Prepayments and accrued income Other debtors |
Group 2025 £ 23,384 132,758 48,637 204,779 |
Group 2024 Charity 2025 Charity 2024 £ £ £ 9,988 9,311 3,555 120,202 126,289 67,085 132,758 67,085 39,063 116,136 262,271 196,929 |
|---|---|---|
31
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
20. Creditors: amounts falling due within one year
| Group | Group | Charity | Charity | |
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Bank loans and overdrafts | 75,298 | 21,221 | 31,489 | 21,221 |
| Trade creditors | 177,164 | 197,386 | 159,038 | 118,083 |
| Accruals and deferred income | 25,584 | 12,830 | 25,584 | 12,830 |
| Social security and other taxes | 49,173 | 45,337 | 19,316 | 9,533 |
| Other creditors | 43,182 | 43,712 | 29,655 | 17,624 |
| 370,401 | 320,486 | 265,082 | 179,291 |
21. Creditors: amounts falling due after more than one year
| Bank loans and overdrafts Other Creditors |
Group 2025 £ 7,896 810,982 818,878 |
Group 2024 Charity 2025 Charity 2024 £ £ £ 26,675 7,896 26,675 823,171 - - 849,846 7,896 26,675 |
|---|---|---|
22. 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 £11,215 (2024: £13,635).
23. Analysis of charitable funds Unrestricted funds
| 1 Unrestricted funds Trading subsidiary funds 1 Unrestricted funds Trading subsidiary funds |
At April 2024 Income Expenditure Transfers At 31 March 2025 £ £ £ £ £ 134,578 686,504 (733,441) 30,883 118,524 (19,976) 760,090 (776,301) (36,187) 114,602 1,446,594 (1,509,742) 30,883 82,337 At April 2023 Income Expenditure Transfers At 31 March 2024 £ £ £ £ £ 324,291 539,472 (729,185) 134,578 (29,301) 686,776 (677,451) (19,976) 294,990 1,226,248 (1,406,636) 114,602 |
At April 2024 Income Expenditure Transfers At 31 March 2025 £ £ £ £ £ 134,578 686,504 (733,441) 30,883 118,524 (19,976) 760,090 (776,301) (36,187) 114,602 1,446,594 (1,509,742) 30,883 82,337 At April 2023 Income Expenditure Transfers At 31 March 2024 £ £ £ £ £ 324,291 539,472 (729,185) 134,578 (29,301) 686,776 (677,451) (19,976) 294,990 1,226,248 (1,406,636) 114,602 |
|---|---|---|
| 114,602 |
32
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
23. Analysis of charitable funds
Restricted funds
| 1 Belfast City Council Princes' Trust Capital Funds Mountain Bike Trail Tourism NI Dormant Accounts Fund 1 Belfast City Council Princes' Trust Capital Funds Mountain Bike Trail Tourism NI Dormant Accounts Fund |
At April 2024 Income Expenditure Transfers At 31 March 2025 £ £ £ £ £ 4,221 4,000 (1,143) 7,078 2,742 2,742 684,301 (27,372) 656,929 284,935 (2,849) 282,086 18,706 18,706 912 33,500 (3,529) (30,883) 995,817 37,500 (34,893) (30,883) 967,541 At April 2023 Income Expenditure Transfers At 31 March 2024 £ £ £ £ £ 4,221 4,221 2,742 2,742 712,814 (28,513) 684,301 287,813 (2,878) 284,935 18,706 18,706 33,500 (32,588) 912 1,026,296 33,500 (63,979) 995,817 |
|---|---|
Transfers
The transfers between funds relates 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 the transfer of funding on the number of projects that had been fully spent.
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Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
23. Analysis of charitable funds (continued)
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.
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.
24. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Tangible fixed assets | 980,739 | 1,015,347 | 1,996,086 |
| Current assets | 343,445 | 30,727 | 374,172 |
| Creditors less than 1 year | (422,969) | (78,533) | (501,502) |
| Creditors greater than 1 year | (818,878) | - | (818,878) |
| Net assets | 82,337 | 967,541 | 1,049,878 |
34
Colin Glen Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | 1,019,790 | 1,031,128 | 2,050,918 |
| Current assets | 206,256 | 23,577 | 229,772 |
| Creditors less than 1 year | (262,304) | (58,182) | (320,486) |
| Creditors greater than 1 year | (849,140) | (706) | (849,846) |
| Net assets | 114,602 | 995,817 | 1,110,419 |
25. 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.
26. 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.
27. Related parties
There were no related party transactions incurred during the year or within the prior year.
28. Ethical Standard
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
29. Going concern
The financial statements have been prepared on the going concern basis which assumes that the charity will continue in operational existence of the foreseeable future. The validity of this assumption depends upon the ability to secure funding to aid the loss of trading income streams in 25/26 which may be closed for a period, and for recurring deficits. The charity is currently a going concern, however if unsuccessful in securing sufficient core funding, their ability to continue as a going concern may be uncertain. If the charity was unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts and to provide for the future liabilities that might arise, and to reclassify fixed assets and long-term liabilities as current assets and current liabilities. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
In recent years Trustees and management of Colin Glen Trust and Colin Glen Leisure have been aware of the large intercompany debt and have put procedures in place to reduce the balances. On 31[st] March 2025 Colin Glen Leisure (the Company) owes £90,645 to Colin Glen Trust (the Charity), however the Company is currently not in a position to settle this amount, with Colin Glen Leisure in a net liability position on the balance sheet at 31[st] March 2025. These conditions give concern.
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