LEDLEY HALL BOYS. AND GIRLS. CLUB TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestrlcted Reslrfcted
funds
funds
2024
2024
Total Unr8stricted Restrlcted
funds
funds
2023
2023
Total
2024
2023
Notes
Incom• from:
Donations and legacies
Investments
21,941
178
123,330
145.271
178
18,497
173
122,925
141,422
173
Total Income
22,119
123,330
145,449
18,670
122,925
141,595
Expendtturo on:
Charitable activitie$
27.723
114.478
142,201
21,346
116,339
137,685
Total •xpendltur•
27,723
114.478
142,201
21,346
116,339
137.685
Not incomel(•xpendltur•)
(5,604)
8.852
3,248
(2,676)
6.586
3,910
Transfers between
fvnds
2,504
(2,504)
6,740
(6,740)
Net mov•m•nt In
funds
(3.100)
6.348
3.248
4,064
(1541
3,910
Reconclliation of funds:
Fund balances a11 April 2023
173,431
181,715
355,146
169.367
181,869
351,236
Fund balanc•s al 31 March
2024
170,331
188,063
358,394
173,431
181,715
355,146
The siatamant of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing actlvities.
The notes on pages 14 to 25 form part of Ihese financlal statemen18.
12-

LEDLEY HALL BOYS, AND GIRLS, CLUB TRUST LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Flxed assets
Tanglble ass8ts
11
281,100
290,854
Current assots
Debtors
Cash at bank and In hand
12
1.514
96,827
3,857
74.758
98,341
78,415
Credltorn: amounts falllng du• wlthln
one year
13
(21,047)
(14,123)
N•t currnnt a$4•ts
77,294
64,292
Total a¥￿tsI•s6 curr•nt Ilablllth•
358,394
355,14e
Nel a••ets •xGludlng p•nslon Ilablllty
358,394
355.148
The funds of the charlty
Restricted Income funds
Unreslricted fvnds
15
188,063
170,331
181,715
173,431
358,394
355,146
The noles cn pages 14 lo 25 form part of these finandal statem•nt8.
The tlnanclal statements were apwoved by the trustees on ..
Mr
Tru•
b8
Comp8ny reglstration number N1014357 (Northem Ireland)
13-

LEDLEY HALL BOYS, AND GIRLS. CLUB TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounllng pollcl•s
Charlty Informatlon
Ledley Hall Boys, and Girls, Club Trust Limit8d is a private company limited by guarantee in¢orpor81ed in
Northem Ireland. The registered office is 1 Ledley Hall Close, Beersbridge Road, Belfast, BTS 4SW.
1.1 Accountlng convgntlon
The charitable company was established under a Memorandum of Assoclaiion which established the objects
and powers of the charitable company and is govemed under its Article ofAssociation.
The charitable cornpany constitutes a public benefit entity as defined by FRS 102.
The financlal Statements have been prepared in accordance wlth applicable accounting standards, Arxounting
and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their
accounts irb accordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ir8land
Issued in October 2019, the Financial Reporting Standard applicable in the Unrted Kingdom and Republc of
Ireland (FRS 102), the Charities Act (Northern Ireland) 2008, Charitles Act (Northem Ireland) 2013, The
Charilies (A¢counts and R&ports) Regulations {Northem Ireland) 2015, Companies Act 2006 and UK
Generally Accepted AcLounting Practice
The financl81 statements are prepared In stefling, which Is the functional currency of the charlty. Monatary
amounts in these financial statements are rounded to Ihe nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
pollcies adopted are set out below.
1.2 Golng conc•rn
The trustee5 have considered the level of funds held and the expected level ol Income and expenditure for
twelve months from authorising these financial slalements. The budgeted income and expenditure is sufficlent
with the level of reserves for the charity to be able to continue as a going concern. W8 believe thal the
company's financial statements should be prepared on a going concern basis on the grounds that current and
future sources of funding and support from th8 Education Authority, other fund8rs and bank will be mole than
adequate for the charilable company's needs. We believe that no further disclosur&s relating to the charitable
company's abillty to continue as a going concern need to be made in the financi81 slatements
1.3 Charltabl• funds
Unre51ricted funds are available for use at the discretion of the trustees in furtherance of their charitsble
objectives.
Restrided funds are subject t¢ specific ¢onditions by donors or granlofs as to how they may be used. The
purposes and uses of the restricted funds afe set out in the notes to the financial slatements. Expenditure
which meets these criteria is charged to the fund, together with a fair allocation of overheads and support
costs.
1A Income
Incom8 is recognised when the charity is legally entitled to it after any performanc8 conditions have been mel.
the amounts can be measured reliably. and rt is probable that income will be recelved.
Cash donations are recognlsed on receipt. Other donatlons are recognised once the charity has been notified
of the donation, un18ss performance condilions requir8 deferral of the amount. Income tsx recoverable in
relation to donations received under GiftAid or deeds of covenant is recognised at the lime of the donation.
Legacies are r8cognised on receipt or otherwis8 if the charily has b8en notified of an impending distribution,
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as
contingent asset.
14-

LEDLEY HALL BOYS, AND GIRLS. CLUB TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng policles {Contlnued)
Donated facililies and donated professional services are recognised in income al their fair value when their
economlc benefit is probable, it can be measured reliably and the charity ha5 control over the item. Fair value
is determined on the basis of the value of the gift to the charity. For example the amount the charity would be
willing to pay in the open market for such facilities and services. A corresponding amount is recognised in
expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP {FRS 102). Further
deiail Is given in the Truste8s' Annual Rewt.
Where practicable, gifts in kind donated fof distribution to the beneficiaries of the charity are included in stock
arml donation5 in th8 financial statements upon receipt, If it is impractlcable lo assess the fair value at receipt
or if the cosls to undertake such a valuation ouiw8igh any benefits, then the fair value is recognised as
component of donations when it is distributed and an equivalent amount fe¢ognisad as charitable expenditure.
Voluntary Income received by way ol donations and gift is credited to revenue on a receivabla basis.
Gifts in kind donated for resale are included at falr value, being the expe¢t¢d proceeds from salé léss thè
expected ¢0515 of sale. Vthere e$limating the fair value is pfacttcable upon receipt il is recognised in stock and
'Income from other trading activities,. Upon sale, the value of the stock is charged 8gain$t 'lncome from other
Irading activities, and the proceeds are recognisad as 'lncome from other trading activilies,. W)ere it is
impracticable to falr value the items due to the volume of low value items thay are not recognised in tha
financial slatemenls until they are sold. This income is recognised within 'lncome from olher trading activities,.
Fixed assel gffts in kind are recognised vthen rocelvable and 8re includéd at fair value. They afe not deferred
over tha life of the asset.
Income from government and other grants are racognised at falr value when the charity has entitlement after
any perfomiance conditions have been mel, it is probable that the income will ba received and the amount
can be measured reliably.
If entltlement is not met then these amounts are deferred. Revenue grants are credited to incoming resources
on the earlier date of wh8n they are received or when they are receivable, unless they relate lo a specified
future perlod. Grants which contribute towards specific expenditure on fixed assets are credited to the
statement of financlal activities n full upon receipt
Income is deferred when it ralatas to a future èvènt and Is recognised on completion ol the event.
Income from trading activities includes income earned from fundraising avenls to raise funds for the charlty.
Income is received in exchange for supplying goods and services in order to raise funds and is recowised
when entillement has occurred.
Investment Income Is interest earned through holdlng cash at bank Int¢re5l income is recognised then
r8c8ivable.
other income represents income that cannot be oported under the other analysis headings provided within
the Stalemeni Of Financial Activities.
15.

LEDLEY HALL BOYS. AND GIRLS. CLUB TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles (Contlnued)
1.5 Expènditure
Expenditure is re¢ognised once there is a legal or constructive obligation to transfer economic benefit to a
third party, il 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 dassified by activity. The ¢o$ts of each activity are mad8 up of the lotal of dir￿1 costs and
shared costs, including SUPPOrt ¢osis involved in undertaking each activity. Direct costs aitnbutablo to a slngle
activity are allocated directly to that activity. Shared costs %thich contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned between those aclivilies on a basis
consislent with the use of re8ourc8s. Central staff costs ar8 allocal8d on the basis of time spent, and
depreciation charges are allocated on Ihe portion of the asset's use.
Fund-raising costs are thos8 incurred In s88king voluntary contributions and do nol Include the costs of
dlsseminating inforrnalion in wpport of the charitable adivities
Expenditure on charltable actlvlties comprlses those costs incurred by the chanty in the delivery of its activities
and services for its beneficiaries and includes salary costs and an apportionment of support cos15;
Governance costs include the costs attributable to the charily's compliance with constitutional and statutory
requirements. including audit, strategic management and Irustee meetings and reimbursed expens6$.
1.6 Tanglble flxed assfjls
Tangible fixed assets are initially measured al cost and subsequently measured at cost or valuation, net of
depreciation and any Impaimient losses.
Depreciation Is recognised 60 as to write off the cost or valuation of assels less thelr residual values over thelr
u3elul lives on the following bases..
Leasehold land and bulldlngs
Fixtures and fittings
Computers
Motor vehicles
2% stralghl Ilne
15% reducing balance
25% straight line
25% reducing balance
The gain or loss arislng on the dlsposal of 8n 8SS8t Is determined as the diff8r8nc8 b8lwe8n the sale proceeds
and the carrying value of the asset, and is recognised in the slalement of financial activities.
1.7 Impalrment of flxed assels
At each ￿pOrting end date, the charlty reviews the carrying amounts of Its tangible assets to detemilne
whether there is any indication that those ass818 have suffered an impairment loss If any such Ind￿atIon
exists, the recoverable amount of the asset Is estlmated in order lo determlne the extent of the impalrmènt
loss (if any).
1.8 Cash and cash equlval•nts
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short.lerm liquid
Investments with original maturitios of three months or le$$, and bank overdraft5. Bank overdraft$ are shown
within borrowings tn current liabilities.
16-

LEDLEY HALL BOYS. AND GIRLS, CLUB TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
A¢countln9 pollclo$ (Contlnu•dl
1.9 Flnanclal In#trum•nts
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issu8S' Df FRS 102 to all of its financial instfuments.
Financial instwments are ￿cOgnISed in the charity's balance sheet when the charity becomes party to the
contractual pwovisions of the instrument.
Flnancial assets and liabilities are offset, with the net amounts pre3ented in the financial statements, when
there Is a legally enfoiceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the Ilabilily simultaneously.
8asl¢ flnanclal ass•ts
Basic financial assets, which include debtors and Cash and bank balances, are initially méagured at
transadion price including transaction costs and are subsequently carried at amortised cost using the effective
Interest method unl8SS the arrangement constitutes a financing transaction, whare the Iransaclion is
measured ai the prasent value of the future receipts discounted at a market rate of interest. Financial assets
classified as receivable wlthin one year are not amortised.
8aslc financlal Ilabllltles
Basic finan¢ial Ilabilities. including creditors and bank loans are initially recognised at transaction prlce unless
the arrangement constitutes a financing transaction. where the debt instrument is measured at the present
value of the fulure paymonls discounted al a market rate of inleregt. Financlal Ilabllltles dasslfied as payable
within ona year are not amortlsed.
Debt instruménls are subsequently carrled at amortised cost, using the effective interest rate method.
Trade eredilors are obllgations to pay for goods or services that have been acquired in the ordinary couise of
operations from suppliers. Amounts payable are classified as Current liabllits'es if payment is due within one
year or le$$. If not. they are pre6enled as non-current liabilities Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost Uglng the effective interest method.
Derecognltlon of flnanclal Ilabllltles
Financial liabillties aro derecognised when the tharity's contractual obligatlons expire or are discharged or
cancelled.
1.10 Taxation
The charitable company is exempt Irom Income tax and capital gain$ tax to the extent that rts income and
gains are applied ft)r charitable purposes. No lax charge has arisen in Ihe year.
1,11 Employee bgn•fit8
The cost of any unused hollday entitlement is recognised in Ihe period in which the employee's seprfices are
received.
1.12 Rellrement beneflts
Payments lo defined contribution retirement beneffit schemes are charged as an expense as they fall due,
17-

LEDLEY HALL BOYS. AND GIRLS. CLUB TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Crttical accountlng estlmatos and ludgements
In the application of the charity's accounting policies. the trustees are required to make judgements. estimate5
and assumptlons about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical 8XP8ri8nce and other factors that
are considered to be relevant. Actual results may diffei fr¢m these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period In whith th8 881imate is revised where th& r8vision affects C￿lY that
period, or in the period of the revision and future periods where the fevislon affects both current and fulure
periods.
Crltlcal Judgoments
Rfjstrlcted and unrostrictod Funds
Judgements are made in relation to allocation of income and exp8nditur8 to restrlct8d and unrestricted funds.
The trustees consider it appropriale to allocate these fvnds based on interpretation of donations received.
Key sources of esllmatlon uncertalnly
Fixod A888ts
The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset
and estimates of residual values. The trustees regularly ieview these asset lives and change them a8
necessary to reflect current thinking on remaining lives in light of prosP&Ctive economic Utilisati￿ ar￿ physical
condition of the assets concerned. Changes in asset lives can gave a Significant impacl on depreciab'on and
amortisation charges for the period.
Income from donallon8 and legacle8
Unr•8trlct•d R•8trl¢ted
funds
funds
2024
2024
Total Unr•8trlcted R•strlcl•d
funds
funds
2023
2023
Total
2024
2023
Donatlons and glfts
Grants
Subscriptions and
activities
5,404
5,375
1.488
121,842
6,892
127,217
4,728
2,149
120,776
6,877
120,776
11,162
11,162
13,769
13,769
21,941
123.330
145,271
18,497
122,925
141.422
18-

LEDLEY HALL BOYS. AND GIRLS. CLUB TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
In¢om• from donallons and logacles
Unr•strlct•d R•strlct•d
funds
funds
2024
2024
Total Unrestrlcted Ro8trlct•d
funds
lund$
2023
2023
Tolal
2024
2023
(Conllnued)
Grants r•colvable for core actlvltle•
Education Authorlty
Hedley Foundation
Clolh blbrkers
Halifax
Belfast City Council
Apex Housing
Ground Work UK
Cash for Kids
The National Lottery
Community Fund
Other
Other
86.097
3,392
9,773
3.526
11,874
3,480
1.000
2,700
86,097
3,392
9,773
3.526
11.874
3,480
1,000
2,700
95,226
95,226
7,500
7.500
1,900
16,150
1,900
16.150
5,375
5,375
5,375
121,842
127,217
120,776
120,776
In¢offlè from Invostments
Unre8trfcted Unrestrlcted
funds
fund8
2024
2023
Interest receivable
178
173
19-

LEDLEY HALL BOYS. AND GIRLS. CLUB TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Expenditure on charitable activlties
Charltablo
Actlvltles
2024
Charllable
Actlvltles
2023
Dlrect costs
staff costs
Molorrrravel Expenses
80th Anniversary
Kings Coronation
71,803
1,009
2,681
525
972
186
775
4,374
6.484
2,286
10,439
2.741
7,608
57.440
2,230
159
410
Food Supplies
Grotto
Boxing
Llght and Heat
Cleaning
Club Activities
Food for all
Other Charitable expenditure
6,588
2,280
37,563
1,031
111,881
107,659
Share ot support and gov•rnan¢• costs (8•0 not• 6)
Support
Governance
23,318
7,002
23.905
6,121
142,201
137,685
Analysls by fund
Unrestricted funds
Restricted funds
27,723
114.478
21,348
116,339
142,201
137,685
-20-

LEDLEY HALL BOYS. AND GIRLS. CLUB TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support costs allocated to actlvltle8
2024
2023
Deprecjation
Insuran
Licences
Repairs and Renewals
Sundry Expenses
Water Chargas
Copying Machine Expenses
Governance costs
14,590
3,913
567
1,745
50
1,864
589
7,002
14,37S
4,701
1,584
3.245
8,121
30,320
30,026
Analysfjd batweon:
Charitable Activib'88
30,320
30,026
2024
2023
Governance c•)st$ ¢omprlse:
Audit fees
Legal and professional
Bank interest and fees
6.600
221
181
5,100
756
265
7,002
6.121
Nel mov•m•nt In fund8
2024
2023
The net movement In funds is slated after chargingl(creditingl-
Fees payable for the audlt of the charlty's financial statements
Depreciation of owned tangible fixed assets
6,600
14.590
5,100
14.375
Trustoos
None of th8 trustees {or any persons connected with them) recelved any remunerats'on Or benefits from the
charity during the year.
The charity considers its key management personnel to compromise Ihe board of trustees, who received no
remuneration in the cu￿ent or prior year.
-21

LEDLEY HALL BOYS. AND GIRLS, CLUB TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Employees
The average monthly number of employees during the year was.
2024
Numb•r
2023
Numbér
Managernent
Supervising
Total
Employment costs
2024
2023
Wages and salaries
other pension costs
70,639
1,164
56,778
662
71,803
57,440
There were no employees whose annual remuneration was more than £60,000.
10 Taxatlon
The charity Is exempt trom taxation on its activities because all ils income is applied for charitable purposes.
11 Tanglble fixed aB80ts
L••sehold Flxlur•• and Computern
land and
flttlngi
bulldlngs
Molor
v•hl¢le•
TrAal
Cost
At 1 April 2023
Addltions
413,437
94,864
4.838
11,141
9.000
528,442
4,836
At 31 March 2024
413,437
99,700
11,141
9,000
533,278
Depreclatlon and Impalrment
At 1 April 2023
Depreclation charged in the year
147.040
8.269
76,000
3.554
5,669
2,737
8,879
30
237,588
14,590
At 31 March 2024
155.309
79,554
8,406
8,909
252,178
Carrylng amount
At 31 March 2024
258,128
20.146
2.735
91
281.100
At 31 March 2023
258,128
18,864
5,472
290,854

LEDLEY HALL BOYS. AND GIRLS, CLUB TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
12 Debtors
2024
2023
Amounts falllng due wlthln one year:
Prepayments and accw8d income
1,514
3.657
13 Crodttors: amounts falllng duè wlthln one year
2024
2023
Other taxation arKI social 8ecurily
Other creditors
Ac¢ruals and defefrad income
2.022
2.986
16,039
2,188
105
11,832
21,047
14,123
14 Rotlrement boneflt schem•8
2024
2023
Dofln8d contrlbullon schem•8
Charge to profit or Ioss in respect of defined contributlon schemes
1.164
882
The charlty operates a defined Contrlbutlon penslon scheme for all quallfylng employéès. The assets of the
scheme are held sèparately from those of the charlty in an independèntly adminlslered fund.
15 R•strlct•d funds
The restricied funds of the charity comprise the unexpended balances of donations and gran18 held on trust
sublect ID specific conditions by donors as to how they may be used.
At 1 Aprll
2023
Incomlng
resour￿5
Resourc•s
•xpended
Transf•r• At 31 March
2024
Capltal
Education Authority
Other Revenue
138.682
(2,5041
136.178
86,097
37.233
(88,0971
{28.3811
43,033
51.885
181,715
123,330
(114,478)
(2.504)
188.063

LEDLEY HALL BOYS, AND GIRLS, CLUB TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15 R•strlcted fund8 (Contlnuodl
Provlous year:
At 1 Aprll
2022
Incomlng
resou￿￿5
Resources
•xp•nded
Transfers At 31 March
2023
Capital
Education ALrthorlty
Other Revenue
145,422
(6,740)
138,682
97,126
25,799
197,126)
{19.213)
36,447
43.033
181,869
122,925
{116.339)
(6,740)
181,715
16 Unre$trlcted funds
The unrestricted funds ol the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds ￿lch have been set aside out of unre8tricled funds by the tru8tees for specific purposes.
Al 1 Aprll
2023
Incomlng
ro$ourc•8
Resources
èxpènded
Transfers At 31 March
2024
General funds
173,431
22.119
(27,723)
2,504
170.331
Pr6vlou8 year:
At 1 Aprll
2022
Incomlng
re8ourc•8
Resourc88
•xp•nd•d
Transfers At 31 March
2023
General funds
169,367
18,670
121,346)
6,740
173.431
The transfer of funds represents depreciation on restricted fixed assets transferred out of unrestricted funds to
reslrlcted fund8 and fixed assets transferred from unrestricted funds to restricted funds.
17 Analy81s of net assets between funds
Unroslrlclod
fundg
2024
Ro$trSctsd
funds
2024
Total
2024
At 31 March 2024:
Tangible assets
Current assel81(liabilitles)
144.922
25.409
136.178
51.885
281,100
77,294
170.331
188.063
358.394
-24-

LEDLEY HALL BOYS. AND GIRLS. CLUB TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
17 Analysls of net assets between fund$ {Contlnu0d)
Unrestrfcted
funds
2023
Re8trlctsd
funds
2023
Totsl
2023
At 31 March 2023:
Tangible assets
Current asselsl(liabilitie8)
152,172
21,259
138,682
43,033
290.854
64.292
173.431
181,715
355,146
18 Contlngent Ilabllltlos
The charitable company has a contingenl liability to repay grants received rf Ihe company fails lo comply with
certaln conditions stipulated in the letter of offer and terms and conditions of contract under whlth the grants
were pald. The trustees do not exceed any claims to be made in thls respect.
Thé Departmenl of Education for Northern Ireland agieed to make a granl to the company of a sum nc
exceeding £300,000 towards expenditure incurred by Ihe company subject to terms and conditions contained
In an Ind8nture dated 31 December 1987. If withln 50 yeais from this date the conditions of the grant no
longer apply, Ihere shall be payable to the Department by the company a sum which the Department
conslders equltable but whith does not exceed Ihe sum determined by the calculation set forth in Articles 11
(S) of the Order.
The Childhood Fund Support Service, under tha EU Special Programmè for Peace and Reconciliation
Childhood Fund, agreed to make a grant of £32,000 lo the company toward$ th& establishment of a play care
group for children of prlmary school ag& subject to terms and conditions contained in an agreemenl dated 18
July 1997. If the company defaults on certain conditions specified in the agreement it 1$ required to repay such
part of the project funds as is in ils p¢sse$sion at the dale of default.
The Department of Education for Northem Ireland agreed to make a grant lo the company of a sum not
exceeding £166,747 towards expenditure incurred by the company subject to terms and conditions contained
in an Indenture dated 7 October 2013. If within 22 years from this date the conditions of the grant no longer
apply. Ihere shall be payable to Ihe Department by the company a Sum which the Department considers
equiiabl8 but which does not exceed Ihe sum determlned by the calculalion set forth in Articles 813) of the
Order and It is hereby dedared that any sum payable to the Department under the provlsions of the covenants
shall be in addition to and not in substitution for any other sum payable to the Department under the provislon
of these presents.
19 R•lat•d party tran8actlon•
Tran8actlons wlth related partl88
During the year Ihe charlty entered into the following transactlons with related parties..
During the year, a trustee made a non-interest bearing loan to the charitable company. Tho balance owing to
Ihe director at the year end was £2,513 and is included in other creditors.