COMPANY REGISTRATION NUMBER N1038017 BALLYMAC FRIENDSHIP TRUST LTD FINANCIAL STATEMENTS 31 MARCH 2023 Charlty Number NIC103722
BALLYMAC FRIENDSHIP TRUST LTD FINANCIAL STATEMENTS 31 MARCH 2023 CONTENTS Trustees Annual Report Independent examlner's report to the members Statement of flnancial activities Ilncorporatln8 the income and expenditure account) Balance Sheet Notes to the flnanclal statements PAGE The followln8 Pa8es do not form part ot the flnanclal stat•ment$ Oetslled statement of financial activlties 15
BALLYMAC FRIENDSHIP TRUST LTD TRUSTEES ANNUAL REPORT 31 MARCH 2023 The trustees, who are also dlrectors for the purposes of company law, present their report and the unaudited financlal Statements of the company for the year ended 31 March 2023 REFERENCE AND ADMINISTRATIVE DETAILS Rellstered Charlty Name: Ballymac Friendshlp Trust Ltd Chartty Rlttratl0n Number: XR35319 Company R•ilstr•tlon Number: N1038017 Prln¢lp•l Offlc•: Ballymac Friendshlp Centre la Fraser Pass Newtownards Road Belfast BT4 IBP Re8lrtered Offlce: IJ Fraser Pass Newtownards Road Belfast BT4 IBP The TNrteoJ The trustees who served the comp8ny durlng the perlod were as follows; Mr S.Beattle Ms K.Holmes Ms M Mehaffey Ms L,Todd
BALLYMAC FRIENDSHIP TRUST LTD TRUSTEES ANNUAL REPORT 31 MARCH 2023 INDEPENDENT EXAMINER Gary Edwards, a member of the Chartered Institute of Management Accountants, has been re-appolnted as Independent exam iner for the ensuing year. la Fraser Pass Slgned on behalf of the trustees Newtownards Road Belfast BT4 IBP Ms L.Todd Trustee Date,. 2bz3
BALLYMAC FRIENDSHIP TRUST LTD INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF BALLYMAC FRIENDSHIP TRUST LTD 31 MARCH 2023 report on the a¢¢ounts of th• company for the year ended 31 Mirch 2023 whlch Ire set cut cn the followln8 pa8es, R•lP•rt• R•sponilblllEles of Tru$tseJ Ind Ex•mln•r The tru$lee5 Iwho pre alsoihe dlrectors of 8allym•c Frl•ndshlp Trust Ltd for ihe purposes of company lawl are Te5ponslble for the prepHr?tion olthe attounts. The trust••5 conslder that an audlt Is not requlredfor thls year under secllon 144121 of the Charltles Act 2011 and that an Ind•p8ndent •x•mlnatlori Is needed. H4n8 5•tlsfted myself ihat the company Is not subject to audlt under company law and Is ellBlble for Independent exarnlnitlon, It Is my r•5ponslblllty to., Eyamine the a¢tounts under soctlon 145 of the 2011 Att, To follow th• prc<•dure5 lald down In the g•n•ral dlr•ctlons 8lven by the Charlty Commlsslon under section 145ISllbl of t• 2011 ACL. And Tts stat• Whhr partlcul•r rn3tter5 have ¢omt to my •tt•ntlon, B•slJ of Indep•ndent EMmln•rfs R•port My emarnlnalion was carrl•d out In accordgDcÈ wlth th• g•neral dlrecllon5 8iven by th• Charlty Comm1s51on. An emarnlnatlon Include5 r•vlew of the &ccountln8 iecord5 kÈpi by th• company and a comparlson of the accounts presented wilh thos• rtcords. It also Iritludes COn5IdeiJllon ot any unusu&l Items or dlsclosures In th• accounty, Bnd seeking explanatlons from you as trustee5 ¢0ncernlrig 4bny such mitter5. The procedvTÈS und•rtak•n do nol prOde all the evldence that would bE requlr•d In an audlt and consequently no oplnlon Is Iven as lo wh•th•i the accounts pre¥Nt B 'lruè and falr, vl•w Ind the report is Ilmlted to thos• rnatterj set out in thè stit•m•nt below, Ind•p•nd•nt Ex•mIneI Ststernent In connectlon wlth my •xamln•tlon, no matteib45 come to my att•ntlon,' Whlch ¥lve5 rne reasonabl• cause to iJ•lleve that in any mat•rlal respect the requlrernEnts', To keep atcountlng r•cords In accord4n¢e wlth sectlon 386 of the Companle5 A¢t 21)J6 and To prepare accounts whl¢h accord wlth the a¢countin8 records, comply wlth the accountin8 requlrem•nts of iectlon 396 of the Cornpanl•s Act 20J6 and the methods and prlnclples of the Staternent of Recomm•nd•d Practlce., Accountln8 and Reportln8 by Charltl•s Hiv• not been met QT To whlch, In rny oplnlgn, attèntien should be drawn In order to •nabl• • proper understandlns of th• •tceunts to b• reached. G,Edw#rds ACMA IS Flush Park Bdfast November 30th 2023
BALLYMAC FRIENDSHIP TRUST LTD STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2023 The statement of Financial Artivities in¢lude5 311 galns and losses In the year and therefore a statement of total recognlsed galns and losses has not been prepared. All of the above amounts relate to contlnulng actlvltles Unr•itrlct•d R•itrlrt•d Total Fund$ Totsl Fund$ Fundi Fundi 2023 2021 Nèts INCOMING RESOURCES Incomln8 re5our¢es from g•nwatlngfvnds Voluntary Incorne Investment Inc(yne 18,000 18,000 18.OOJ Z3 23 16 IncoKnln8 re50urce5 from charitable acdthtles 14,372 308,501 322,873 277,745 TOTAL INCOMINfj RESOURCES 33,395 308,SOI 340,896 295.761 . RESOURCES EXPENDED Charltable Actlvltlos 21.019 327,347 348,366 291,800 Governa11$ 1,200 1,2Crf) 1,200 TOTAL RESOURCES EXPENDED 21,019 328,547 349,566 293,080 NEf IOUTQOINGUINCOMING RESOURCES FOR THE YEAR I NET IEXP£NDITUREIIINCOME FOR THE YEAR RECONCILIAnON OF FUNOS 11,376 40,046 4,671 2,681 Total funds tsrought forward .150 404974 404,824 401,118 TOTAL FUNDS CARRIED FORWARD 384 928 396 153 403.199
BALLYMAC FRIENDSHIP TRUST LTD BALANCE SHEET 31 MARCH 2023 Note 2023 2022 FIXED ASSETS Tanglble Assets 387,W6 394,884 CURRENT ASSErs Debtors 33,852 34,014 CREDITORS Amounts f4111ng due wlthln one year io 24,576 24,074 NEf CURRENT ASSETS 9,277 9,940 TOTAL ASSETS LESS CURRENT LIABILITIES 396,282 404,824 NET ASS5 396,282 404,824 FUNDS Restrlcted Income funds Unrestrlcted Income fund5 li 384,928 11,355 404,974 -150 12 TOTAL FUNDS 396,282 404,824 For the year ended 31. March 2023 the company was entltled to exemption fr¢m audlt under section 477 of the Companles Act 2006 relatin8 to small companies. Trustee's responslbllltles: The members have not requlred the company to obtaln an audlt of Its accounts for the year in questlon In accordance with section 476 and,. The trustees acknowledge their re5ponslbllltles for complyin8 With the requlrements of the Act with respert to accountlng records and the preparatlon of accounts. These financial statements were approved by the members of the commlttee and authorised for si Issue on the 31 November 2023 and are slgned Dn thelr behalf by.. M5. L.Todd
BALLYMAC FRIENDSHIP TRUST LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 I. ACCOUNTING POLICIES Bas1$ ol a¢countlni. The financial statements have been prepared under the historical cost convention and In accordance wlth the Flnanclal Reportlng Standard for Smaller Entitles leffectlve Aprll 2C081, and the requirements of the Statement of Recommended Practlce 'Accountln8 and Reporting by Charities, issued in March 2005 ISORP 20051. Flxed A$$ets. All fixed assets are Inltlally recorded at Cost. Depre¢l•tlon. Depreciatlon is calculated so as to write off the cost of an asset, le5$ its estlmated resldual value, over the useful econornic life of that asset as follows.. Equipment Fixtures & Flttlngs Leasehold Property 21yA Straight Line -21yA Straight Line -2% Stralght Line Fund kcountln¥. Unrestrlcted funds are'funds which are avillable for use at the dlscretlon of the Trustees in furtherance of the general objectives of the Charlty and whlch have not been deslgnated for other purposes. Restricted funds are funds whlch are to be used in accordance with specific restrlttlons Imposed bv donors or which have been raised by the Charlty for particular purposes, The cost of raisin8 and administr?ting such funds are charged agalnst the speclflc fund. Restrlcted funds may only be transferred to general or desl8nated funds once the crlteria for restrictions have been discharEed or no longer apply. In¢omln8 ReurceS. All Incomlni resources are Included In the Statement of Financial Activities when the charity is legally entltled to the Income and the amount can be quantified with reasonable accuricy. Grants and revenue generated are recognised in the SOFA In the perlod In whlch they are recelvable, Income is only deferred when the charity has to fulfil conditions before becomlng entltled to It or where the donorlfunder has specified that the income is to be expended in a future period.
BALLYMAC FRIENDSHIP TRUST LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 I. ACCOUNTING POLICIES Icontlnued) Resour¢es expended. Resources expended are Included in the Statement of Financial Actlvltles on on accrual b4sls, Inclusive of any VATwhith may be Irrecoverable. Charltable expenditure comprises those cost5 incurred by the charity in the delivery of Its activitles and servlces for its beneficiaries. It Includes both costs that can be allocated directly to such actlvltles and those costs of an Indlrect nature necessary to support them. Governance costs Include those costs assoclated wlth meeting the constltutional and statutory requlrements of the charity and Include the audit fee and costs Ilnked to the strategic rn4nagement of the tharlty, All costs are allocated between the expendlture categorles of the Statement of Financl81 Activltles on basis deslgned to reflect the use of the resource. C05t5 relatlng to a partlcular activlty are allocated dlrectly,. others are apportioned on an appropriate basls. VAT The charlty is not reglstered for VAT purposes, therefore Irrecoverable VAT is charged to the Staternent of Flnancial Actlvlties, or capltalised as part of the cost of the related asset, where appropriate. TAXATION. The company is a reglstered charlty and the charitable tax exemptlons are therefore being claimed to the extent that income gndlor gain5 are applicable and applied to charltable purposes only. These exemptlons wlll remaln In place as long as income and expendlture is applled to charltable purposes only. 2. VOLUNTARY INCOME Unrestrlrtod Funds Tot•1 Funds 2023 Total Funds 2022 Gr•nts rffelv•ble Belfast Clty Councll 18,CQO 18,OLI) 18,000 18,OCK) 18,CMX) 18,CKXJ
BALLYMAC FRIENDSHIP TRUST LTD NOTES TO THE FINANaAL STATEMENTS YEAR ENDED 31 MARCH 2023 3. INVESTMENT INCOME Unreitrkted Fundi Total Funds 2023 Total Funds 2022 Bank Interest Recelvable 23 23 16 23 23 16 4. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES Unrertrlcted Funds Re5trlct•d Funds Tot•1 Funds 2023 Total Funds 2022 Publlc Health Agency Awards for All Communlty Foundation Room Hlre & mlsc, ID¢ome Cooperatlon Ireland Belfast Education Llbrary Baard Belfast City Council- Programme Costs Belfast Regeneratlon Office Charter Nl Radius EBCD 51B Other Mlsc Income 3,476 3,476 5,574 9,950 1,687 21,250 1,687 35,622 14,372 10,924 1,164 6,OQKI 1,8LJJ 35,995 114,867 35,995 114,867 5,325 99,706 4,000 117,426 117,426 138,662 14,372 308,501 322,873 278,745 io
BALLYMAC FRIENDSHIP TRUST LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 5. GOVERNANCE COSTS. Unr•striLt•d Funds Restricted Funds Tot•1 Funds 2023 Audlt Fees 1,200 1,2 1,2CKt 1,2C 6. NET IOUTGOINGI / INCOMING RESOURCES FOR THE YEAR this is stated after ch•r8ln8'. Totil Funds 2023 Tot81 Funds 2022 Depreclatlon Auditor's remuneritlon 7,878 1,2tKI 8,191 1,2Crf) 7. STAFF COSTS AND EMiXiJMENTS Total Staff costs were as follows.. 2023 2022 Wages & Salarles 96,040 106,835 P•rtlculars of employees: The average number of employees durlng the year, calculated on the basis of full.time equivalents, was as follows.. 2023 No 2021 No Number of Staff li
BALLYMAC FRIENDSHIP TRUST LTD NOTES TO THE FINANaAL STATEMENTS YEAR ENDED 31 MARCH 2023 7. STAFF COSTS AND EMOLUMENTS {contInu> No employee recelved remuneration of more than £60,000 during the year12019- NIL) 8. TANGIBLE FIXED Assrrs. Flxtures & Flttings Ikasehold Property Equlpment Total COST At Aprll 1st 2022 Addltlony At 31st M&rch 2023 55,230 21011 447484 S23,058 55,230 21011 447J84 524.6LS DEPRECIATION At l April 2022 Cl]ar8e for the >'¢ai 42,966 3,183 21,811 64,964 4,695 121J50 7,878 At 31 March 2023 46,149 21,811 69ffj59 137,619 NET BOOK VALUE At 31 March 2023 9,081 377,925 387,006 At 31 March 2022 12,264 382,620 394,884 9. DEBTORS 2023 2022 Bank Trade Debtors 24,852 34,014 33,852 34,014 12
BALLYMAC FRIENDSHIP TRUST LTD NOTES TO THE FINANaAL STATEMENTS YEAR ENDED 31 MARCH 2023 10. CREDITORS: Amunts fallin8 du• wlthln one year 2023 2022 Bank loans and overdrafts Trade Creditors Accruèls 2,392 20,984 1,200 18,127 4,747 1,2 24,576 24,074 11. RESTRicfED INCOME FUNDS Balonce at 0110412022 Incomlni R•sources Outgolni Resources Balancé it 3110312023 Restrlcted Fund 404,974 308,501 -328,547 384,928 12. UNRESTRICTED INCOME FUNDS Bahnce It 0110412022 Incomlni Rewurces Outpln8 Resources Balanc• •t 3110¥2023 General Funds .150 32,395 -21,019 11,226 13
BALLYMAC FRIENDSHIP TRUST LTD MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2023 The followlng pages do not form part of the statutory flnanclal statements whlch are the subject of the Independent examlner's report. 14
BALLYMAC FRIENDSHIP TRUST LTD DETAILED STATEMENT OF FINANCIAL AcfiviTIES YEAR ENDED 31 MARCH 2023 2023 2022 INCOMING RESOURCES VOLUNTARY INCOME Belfast Clty Councll Revenue Grant 18,000 18,000 18,000 18,000 INVESTMENT INCOME Bank Interest 23 16 23 16 INCOMING RESOURCES FROM CHARITABLE AcfiviTIES Publlc Health Agency Awards forAII Room Hlre & mlsc Income Coperatlon Ireland Belfast Education Llbrary Board Belfast City Councll - Programme Costs Belfast Regeneration Offlce Community Foundatlon Radlus Charterr SIB EBCDA 3,476 5,574 9,950 10,924 1,164 6,000 5,325 99,706 35,622 1,800 35,995 114,867 1,687 4,000 440 138,662 1,000 117,426 8,000 322,873 278,745 TOTAL INCOMING RESOURCES 340 896 296 761 2023 2022 RESOURCES EXPENDED CHARITABLE ACTIVITIE5 Staff Costs- Wages & Salaries Staff Costs - Recruitment Estblishment- Light & Heat Establishment- Repairs & Maintenance Establishment- Insurance Motor & Travel Costs Legal & Professional 96,040 106,835 7,620 844 7,372 657 6,150 3,606 7,161 614 13 15
Office Expenses - Telephone Office Expenses - Other Depreciation Rent Direct Charitable activity- Bank Charges Direct Charitable activlty- Programme Costs 1,240 3,394 7,878 868 563 2,159 8,191 536 221,904 194 155,558 348,366 291,880 GOVERNANCE COSTS Audlt Fees 1,200 1,200 1,200 1,200 TOTAL RESOURCES EXPENDED 349,566 293,080 NEf (OUTGOING)IINCOMING RESOURCES FOR THE YEAR -8,671 3,681 16