## **HARRY GREGG FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR YEAR ENDED 30 JUNE 2023**_ |**Notes**
**Income from:**
Donations &
sponsorship
**3**
Charitable activities
**4**
Fundraising
**5**
Investments
**6**
**Total Income**
Expenditure on:
**Net**
**(expenditure)/income**
**for the year/ Net**
**movement in funds**
Fund balances at July
2022
Funds balances at 30
June 2023|**Unrestricted**
**fund**
**2023**
0
43,793
0
0
43,793
39,896
3,898
38,401
42,299|**Restricted**
**Funds**
**2023**
2,500
0
0
0
2,500
0
2,500
834
3,334|**Total**
2,500
43,793
0
0
46,293
39,896
6,398
39,235
45,633|**Unrestricted**
**Funds 2022**
1,900
41,762
0
14
43,676
49,671
(5,995)
44,396
38,401|**Restricted**
**Funds**
**2022**
19,320
0
0
0
19,320
19,400
(80)
914
834|**Total**
21,220
41,762
0
14| |---|---|---|---|---|---|---| |||||||62,996| |||||||69,071| |||||||(6,075)
45,310
39,235| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirement for an income and expenditure account under the Companies Act 2006. -6- ## **HARRY GREGG FOUNDATION** ## **BALANCE SHEET** _**AS AT 30 JUNE 2023**_ |**Notes**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amount falling**
**due within one year**
**12**
Net current assets
**Income funds**
Restricted funds
**13**
Unrestricted funds|**£**
89
56,430|**2023**
**£**
45,633|**£**
129
49,992|**2022**
**£**
39,235| |---|---|---|---|---| ||56,519
(10,886)
3,334
42,299||50,121
(10,886)
834
38,401|| |||45,633||39,235| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended June 2023. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small company’s regime. The financial statements were approved by the Trustees on 1 March 2024. Mr Maurice Bradley Mr Peter Morrow **Trustee Trustee** ## **Company Registration No. NI628847** -7- ## **HARRY GREGG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 JUNE 2023**_ ## **1 Accounting policies** ## **Charity information** Harry Gregg Foundation is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 17 Primrose Gardens, PORTRUSH, Co. Antrim, BT56 8SE. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charity’s Memorandum and Article, the Companies Act 006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their account in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective from 2019”. The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provision of the SORP for charities applying FRS 102 updates, bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the accounts. ## **1.3 Charitable Funds** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. ## **1.4 Incoming Resources** All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. Cash donations are recognized on receipt other donations are recognized once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Grants are credited to deferred revenue. Grants towards capital expenditure are directly written off against the cost of the assets as incurred. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. -8- ## **HARRY GREGG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2023**_ ## **1 Accounting policies** **(continued)** ## **1.5 Resources expended** Liabilities are recognized as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of obligation can be measured reliably. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.7 Financial instruments** The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all its financial instruments. Financial instruments are recognized in the Charity’s balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at the market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligated to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognized initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognized when the Charity’s contractual obligations expire or are discharged or cancelled. -9- ## **HARRY GREGG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2023**_ ## **2 Critical accounting estimates and judgements** In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlaying assumptions are reviews on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Donations & sponsorships** |Donations and gifts
Grants
**Grants receivable**
**for**
**core activities**
Department for Communities
Grant
NIBFA
Other
Irish Society
CC&G|**Unrestricted**
**funds**
**2023**
**£**
0
0
0
0
0
0
0
0|**Restricted**
**funds**
**2023**
**£**
2,500
2,500
0
0
0
0
2,500
2,500|**Total**
**2023**
**£**
2,500
2,500
0
0
0
0
2,500
2,500|**Unrestricted**
**funds**
**2022**
**£**
1,900
1,900
0
0
1,900
0
0
1,900|**Restricted**
**funds**
**2022**
**£**
19,320
19,320
0
0
5,000
1,300
13,020
19,320|**Total**
**2022**
**£**
21,220| |---|---|---|---|---|---|---| |||||||21,220| |||||||0
0
6,900
1,300
13,020| |||||||21,220| -10- ## **HARRY GREGG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2023**_ ## **4 Charitable activities** |Income from charitable activities -
Team fees
Analysis by fund
Unrestricted funds
Restricted fund
**5 Fundraising**
Fundraising events
**6 Investments**
Interest receivable|**Team Fees**
**2023**
**£**
43,793
43,793
43,793
2,500
**Restricted**
**funds**
**2023**
**£**
0
**Unrestricted**
**funds**
**2023**
**£**
0|**Team Fees**
**2022**
**£**
41,762| |---|---|---| |||41,762| |||41,762
19,320| |||**Restricted**
**funds**
**2022**
**£**
0| |||**Unrestricted**
**funds**
**2022**
**£**
14| -11- ## **HARRY GREGG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2023**_ |**7 Charitable activities**
Coach Hire
Pitch Hire
Membership
Match officials
Clothing
Equipment
Tournament Costs
Volunteer education
Awards
Share of support costs (see note 8)
Analysis by fund
Unrestricted funds
Restricted funds|**2023**
**£**
1,354
13,075
189
16,564
2,204
0
0
350
2,335
36,072
3,824
39,896
39,896
0
39,896|**2022**
**£**
555
19,896
135
13,340
7,025
2,168
113
185
0| |---|---|---| |||43,416
25,654| |||69,070| |||49,671
19,400
69,071| -12- ## **HARRY GREGG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2023**_ |**8 Support costs**
**Support**
**costs**
**£**
Stationary & Publicity
928
Telephone & Internet
248
Website costs
0
Consultancy
850
Legacy - Consultancy
0
Insurance
1,127
Bank Fees & Charges
286
General
0
Medical
0
Donation
0
Event costs
385
Business Outline Case
0
Covid recovery
0
3,824
Analysed between
Charitable activities
3,824
**11 Debtors**
**Amounts falling due within one**
**year:**
Other debtors
**12 Creditors: amounts falling due within one**
**year**
Grants
Accruals and deferred income|**Governance**
**costs**
**£**
0
0|**2023**
**£**
928
248
0
850
0
1,127
286
0
0
0
385
0
0
3,824
3,824|**Support**
**costs**
**£**
1,867
224
0
2,500
13,020
1,295
166
21
1,380
0
182
5,000
0
25,654
25,654
**Notes**|**Governance**
**costs**
**£**
0
**2023**
**£**
134
**2023**
**£**
10,886
10,886|**2022**
**£**
1,867
224
0
2,500
13,020
1,295
166
21
1,380
0
182
5,000
0| |---|---|---|---|---|---| ||||||25,654| ||||||25,654| ||||||**2022**
**£**
129| ||||||**2022**
**£**
10,886
10,886| -13- ## **HARRY GREGG FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2023**_ ## **13 Restricted funds** Restricted funds is comprised of the following: |Fundraising &
sponsorship
a/c
DSD Fund
a/c
Deferred
Income
SSGC & Youth
League
a/c
Community Dev-
Legacy
a/c|**Balance**
**at**
**01 July**
**2021**
**£**
915
10,884
(10,884)
0
0
915|**Movement**
**Incoming**
**resources**
**£**
1,300
0
0
5,000
13,020
19,320|**in funds**
**Outgoing**
**resources**
**£**
(1,380)
0
0
(5,000)
(13,020)
(19,400)|**Balance**
**at**
**1 July**
**2022**
**£**
835
10,884
(10,884)
0
0
835|**Movement in funds**
**Incoming**
**Outgoing**
**Balance**
**at**
**resources**
**resources**
**30 June**
**2023**
**£**
**£**
**£**
0
0
0
0
835
0
0
10,884
0
10
(10,884)
0
0
2,500
0
2,500
2,500
10
3,335| |---|---|---|---|---|---| ## **14 Analysis of net assets between funds** |Funds balance at 30
June 2022 are
represented by:
Current assets/
(liabilities)|**Unrestricted**
**funds**
**2023**
**£**
42,299
42,299|**Restricted**
**funds**
**2023**
**£**
3,334
3,334|**Total**
**2023**
**£**
45,633
45,633|**Unrestricted**
**funds**
**2022**
**£**
38,401
38,401|**Restricted**
**funds**
**2022**
**£**
834
834|**Total**
**2022**
**£**
39,235
39,235| |---|---|---|---|---|---|---| -14-