ARDFOYLE TRUST Statement of Financial Activities for the Year Ended 30 Se tember 2023 2023 Total funds 2022 Total funds Unrestricted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 22,424 22,424 25,039 Investment income 26,550 26,550 29,106 Total 48,974 48,974 54,145 EXPENDITURE ON Charitable 2Ctivities Governance costs Charitable Donations 3,382 49,015 1,574 73,643 49,015 Other 24,808 Total 52,397 52,397 100,025 NET INCOME/(EXPENDITURE) (3,423) (3,423) (45,880) RECONCILIATION OF FUNDS Total funds brought forward 752.384 752,J84 798,264 TOTAL FUNDS CARRIED FORWARD 748,961 748,961 752,384 The notes form part of these financial statements Page 4
ARDFOYLE TRUST Balance Sheet 30Se tember 2023 2023 Total funds 2022 Total funds Unrestricted Restricted fund funds Notes FIXED ASSETS Investment propety 459.290 459,290 459,290 CURRENT ASSETS Debtors Cash at bank 12 66.435 227,387 56,563 240,259 227,387 293,822 293,822 296,822 CREDITORS Amounts falling due within one year 13 (4,151) (4,151) (3,728) NET CURRENf ASSETS 289,671 289,671 293,094 TOTAL ASSETS LESS CURRENT LJABILITIES 748,961 748,961 752,384 NET ASSETS 748,961 748.961 752,384 FUNDS Unrestricted funds 14 748,961 752,384 TOTAL FUNDS 748,961 752.384 The charitable company is entitled to exemption from audit under Section 477 of the Cornpanies Act 2006 for the yeai- ended 30 September 2023. The members have not required the company to obtain an audit of its financial Statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 3 87 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the Charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirenients of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of thes¢ financial statements Page 5 continued.-
ARDFOYLE TRUST Balance Sheet- continued 30 Se tember 2023 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for i55ue on .. J¥4L..2c)l.fr. and were signed on its behalf by.. Jmc land- Trustee The notes form part of these financial statements Page 6
ARDFOYLE TRUST Notes to the Financial Statements for the Year Ended 30 Se tember 2023 COMPANY LIMITED BY GUARANTEE Ardfoyle Trust Ltd is a company limited by guarantee and accordingly does not have share capital. Each member of the company has undertaken to contributed such amounts as will be required not exceeding £1 O to the assets of the 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. ACCOUNTING POLICIES Basi5 of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORF (FRS 102) '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 l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Cotnpanies Act 2006. The financial statements have been prepared under the historical cost convention. Financial reporting standard 102 - reduced disclosure exemptions The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements. as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Statement of Cash Flows. the requirement of paragraph 3.17(d)' the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii). 11.48(a)(iv), 11.48(b) and I1.48(c)' the requirements of paragraphs 12.26, 12.27. 12.29(a), E2.29(b) and 12.29A- the requirement of paragraph 33.7. Income All inconie is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. it is probable that the incoine will be received and tlie amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Taxation The charity is exempt from Corporation tax on its charitable activities. Fund aecounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Page 7 continued...
ARDFOYLE TRUST Notes to the Financial Statements - continued for the Year Ended 30 Se tember 2023 ACCOUNTING POLICIES- continued Fund accounting Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specifIed by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial staternents. DONATIONS AND LEGACIES 2023 2022 Donations Gift aid 18,139 4,285 20,050 4,989 22,424 25,039 INVESTMENT INCOME 2023 2022 Rents received Deposit account interest Interest receivable Ground Rent received 23,650 141 2,271 488 17,267 135 10.772 932 26,550 29,106 CHAIUTABLE ACTIVITIES COSTS Grant nding of actLVlties (see note Support costs (see note 7) 6) Totals Governance costs Charitable Donations 3,382 3,382 49,015 49,015 49,015 3,382 52,397 Page 8 continued...
ARDFOYLE TRUST Notes to the Financial Statements - continued for the Year Ended 30 Se tember 2023 GRANTS PAYABLE 2023 2022 Charitable Donations 49,015 73,643 SUPPORT COSTS Governance costs Management Totals Governance costs 1,219 2.163 3,382 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 30 September 2023 nor for the year ended 30 September 2022. Trustees, expenses Thei'e were no trustees, expenses paid for the year ended 30 September 2023 nor for the year ended 30 September 2022. STAFF COSTS The average monthly number of employees during the year was as follows.. Trustees 2023 2022 No employees received emolumeiits iii excess of £60,000. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 25,039 25,039 Investment income 29.106 29,106 Total 54,145 54,145 EXPENDITURE ON Charitable activities Governance costs Charitable Donations 1,574 73.643 1.574 73.643 Other 24,808 24,808 Page 9 continued...
ARDFOYLE TRUST Notes to the Financial Statements - continued for the Year Ended 30 Se tember 2023 io. COMPARATKVES FOR THE STATEIVIETrrr OF FINANCIAL ACTtVITIES - continued Unrestricted Restricted Total fund funds funds Total 100,025 100,025 NET INCOMEI(EXPENDITURE) (45,880) (45,880) RECONCILIATION OF FUNDS Total funds brought forward 798,264 798,264 TOTAL FUNDS CARRIED FORWARD 752,J84 752,i84 ii. INVESTMENT PROPERTY FAIR VALUE At l October 2022 and 30 September 2023 459,290 NET BOOK VALUE At 30 September 2023 459,290 At 30 September 2022 459,290 The trustees consider that the investment properties are shown at fair market value. 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other debtors Gift Aid Reclaim 62,150 4,285 51,600 4,963 66,435 56,563 Page 10 continued...
ARDFOYLE TRUST Notes to the Financial Statements - continued for the Year Ended 30 Se tember 2023 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 VAT Accruals and deferred income 2,530 ,621 2,333 1,395 4,151 3,728 14. MOVEMENT IN FUNDS Net movement in funds At 1110122 At 3019123 Unrestricted funds General fund 752,384 (3,423) 748,961 TOTAL FUNDS 752,384 (3,423) 748,961 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Moveinent in funds Unrestricted funds General fund 48,974 (52,397) (3,423) TOTAL FUNDS 48,974 (52,397) (3,423) Comparatives for movement in funds Net movement in funds At 1110121 At 3019122 Unrestricted funds General fund 798,264 (45,880) 752,384 TOTAL FUNDS 798,264 (45,880) 752,i84 Page 11 continued..
ARDFOYLE TRUST Notes to the Financial Statemei)ts - continued for the Year Ended 30 Se tember 2023 14. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrieted funds General fund 54,145 (100,025) (45,880) TOTAL FUNDS 54,145 (100,025) (45,880) A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 1110121 At 3019123 Unrestricted funds General fund 798,264 (49,303) 748,961 TOTAL FUNDS 798,264 (49,303) 748,961 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 103,119 ( l i2,422) (49,303) TOTAL FUNDS 103,119 ( l i2,422) (49,303) Page 12 continued...
ARDFOYLE TRUST Notes to the Financial Statements - continued for the Year Ended 30 Se tember 2023 15. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 30 September 2023. Page 13