COMPANY REGISTRATION NUMBER N1038017 BALLYMAC FRIENDSHIP TRUST LTD FINANCIAL STATEMENTS FINANCIAL STATEMENTS 31 MARCH 2024 CHARITY NUMBER NIC 103722
BALLYMAC FRIENDSHIP TRUST LTD FINANCIAL STATEMENTS 31 MARCH 2024 CONTENTS Trustees Annual Report Independent examlner's report to the members Statement of flnanclal actlvltles Ilncorportlng the Income and expendlture account) 8alance Sheet Notes to the flnanclal statements The followlng pages do not form pèrt of the flnandal statements Detalled statement of flnanclal actlvltles Is PAGE 2
8ALLYMAC FRIENDSHIP TRUST LTD TRUSTEES ANNUAL REPORT 31 MARCH 2024 The trustees, who are also dlrectors for the purposes of company lawl present thelr report and the flnanclal statements of the cornpany for the year ended March 2024 REFERENCES AND ADMINISTRATIVE DETAILS Re815tered Charlty Name,. Ballymac Frlendshlp Trust Ltd Chailty ReBlstration Number.. XR35319 Company Re8lstratlon Number: N1038017 PrlncSpal Olflce.. Ballymac Frlendshlp Centre la Fraser Pass Newtownards Road Belfast BT4 18P Reglstered Offlce: 8allymac Frlendshlp Centre la Fraser Pass Newtownards Road 8elfast BT4 IBP The Trustees The trustees who served the company durlng the pelod were as follo%vs: Mr S Beattle Ms K Holmes Ms M Mehaffey PAGE 3
BALLYMAC FRIENDSHIP TRUST LTD TRUSTEES ANNUAL REPORT 31 MARCH 2024 INDEPENDENT EXAMINER Heron Accountancy Solutlons, a member of the Assoclated Chartered Certlfled Accountants, has been appolnted as Independent examlner for the ensulng year. la Fraser Pass Newtownards Road Belfast BT4 IBP Slgned on behalf of the trustees Ms K Holmes Trustee Date: PAGE 4
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF BALLYMAC FRIENDSHIP TRUST LTD 31 March 2024 I report on the accounts of the company for the year ended 31" March 2024 whlch are set out Respectlve Responsibllltles of Trustees and Exam3ner The tru5tee5 Iwho are also the dlrectors of the 8allymac Frlend5hlp Trust Ltd for the purposes of company law} are responslble for the preparatlon of the accounts. The trustees conslder that an audlt Is not requlred for thls year under sectlon 144121 of the Charltles Act 2011 and that an Independent examlnatlon Is needed. Havlng satlsfled myself ihat the company Is nol subject to audlt under company law and Is ell8lble for Independént eKamlnatlon. It Is my responslblllty to: Examlne the account5 undersectSon 145 of the 2011 Act,. To follow the procedures lald down In the general dlrectlons glven by the Chartlty Comm1s51on under sectlon 14515llbl of the 2011 Act., And To state wheher partlcular mattels have come to my attentlon Basls of Independent Examlner's Report My examlnatlon was ¢a¥rled oui In accordano wlth the general dlre£tlon$ 8lven by the Ch4rlty Commlsslon. An examlnatlon Includes a revlew of the accountln8 re¢ord5 kept by the company and a comparaslon of the account5 presented wlth those records, It also Inclu(les conslderatlon of any unusual Items or dlsclosures In the accounts, and seeklng explanatlons from you as Iruslees concerning and such matters. The procedures undertaken do not provlde all the evldence that would be ¥eqvlred In an audll and consequently no oplThlon Is glven as to whether the accounts present a 'true and falr, vlew and the report Is Ilmited to those matters set out In the statement below. Independent EKamlner's Statement lrt connectlon wlth my examlnatlon, no matter as come to my attentlon: whlch 8lves me reasonable cause to belleve that In any materlal respect the requlrements,, a: To keep accountlng records In accordance wlth sectlon 386 of the Companles Act 2006 and b: To prepare accounts whlch accord wlth the accountlng records, comply w5th the accountln8 reguirements of sectlon 396 of the Companles Act 2006 and the methods and prlnclples of the Statement of Recommend Practlce; Accounllng and Reporllng by Ch8rSlle5 Have not been mot or To whlch, In my oplnton, attention should be drawn In order to enable a proper understandlng of the accounts to be reached. Julle Hamllton FCCA 301 City East 8u51ness Centre 68172 Newlownards Road 8elfa&t BT4 IGW 31" Oecember 2024 PAGE S
BALLYMAC FRIENDSHIP TRUST LTD STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOMÉAND EXPENOIWREACCOUNT) YEAR ENDED 31 MARCH 2024 The statement of Flnanclal Actlvltles Incl ude5 all galns and10sses In the year and therefore a statement oftotal recognlsted galnsand losseshas not been prepared. All of the above amounts relateto contlnulng actlvltles Unre5t(Icied Funds Restylcled Funds Tolal Funds Total Funds 2024 2023 INCOMING RESOUtICES Incomlng resourses ftDm 8enerailn&J lunds Volutary Income Investment Income Incomlng resourse5 fiom thartiable a¢ilvltles 13,194 13,194 42 227,884 18,000 23 322,813 42 211992 15,892 TOTALINCOMING RESOURCES 296 212,034 241120 340096 HESOURCES EXPENDEO Charltable Actlvliles Govemance Costs 33,650 236,241 1,200 269191 1,200 348.366 1,200 TOTAL RESOURCES EXPENDED 33.650 237,441 271M91 349,566 NET IOUTGOINGSIIINCOMING RESOURCES FOR THE YEAP/NET IEXPENDITUTREIIINCOME FOR THEYEA RECONCIIIATIQNOF FUNDS 14,5641 125A071 (29,971) 18,671) Total funds brou8ht forw8rd IIB54 384.928 396,282 404,953 TOTAL FUNDS CARRIED FORWARD 6,790 359,521 366,311 396,282 PAGE 6
BALLYMAC FRIENDSHIP TRUSTLTD BALANCESHEET ASAT31 MARH 2024 Note 2024 2023 FIXED ASSETS Tanglble Assets 380,009 387006 CURRENT ASSETS Oebtots 8,235 33,852 CREDITORS Amounls lallln8 d wlthln l year io 21,933 24,576 9,276 (13,6981 NET CURREKf ASSITS 113,698) 9276 TOTAL ASSETS LESS CURRENT LIABILITIES 366,311 396.282 TOTAIASSIT5 366,311 396,282 FUNDS IRe51rlcted Income lunds Unrestdcted Income funds li 12 359,521 6,790 384,928 11,354 366,311 396,282 For theyear ended 31st March 2024 thecompanywas entltled toexemptlon from audlt under sectlon 477 of theCornpanle5Act 2006 relatlngto Small companle5. Trusteds responslblltlles The Member5 havenot requlred the cornpanyto obraln an audlt of Itsac¢ountsforthe theAct year In que5tlon In accordancewith 5ectlon 476 and. Thetrustee5 acknowledgethelr respon51bllltles forcomplyln8wlth therequlrementsof wlth respect to accountlng recordsand the preparatlon ofaccounts. The fln3nclal 5tatementswereapproved by themembers ofthecommltteeand authorl*d forlssue on 31st December 2024 and areslgned on thelr behalfby: MSK Holmes PAGE 7
8ALLYMAC FRIENDSHIP TRUSTLTD NOTES TOTHE FINANCIAL STATEMENTS YEAR ENDEO 3 1 MARCH 2024 I. ACCOUNTING POLICIES 8asls ofaccountlnB The financlal statement have been prepared under the h15torlcal cost conventlon and In accordance wlth the Flnantlal Reportlng Standard lor Smaller Entltles {efflectlveAprll 20081. and the requlrements of the Statement of Recommended Practlce'Accountln8 and Reportln8 bycharltles, Issued Sn March 2005 (50RP 20051. Flxed A55ets All flxed assets arelnltlally recorded at cost. Depreclatlon Depreclatlon Is calculated so as to wrlle oHthe¢ost ofan asset, le55 Itsestlmated resldual value, over the useful economlc Ilfe of that asset as follo 20% Stralght tlne 20% Straight Llne 2% Stralght Llne Fund Accountln8 Unrestrlcted funds are funds whlch oreavallable for useat the dlscretlon of theTruslees In furtherance of Ihe8eneral oblectlves of the Chartly and whlch have not been deslgnated for other purposes. Restf Icted funds afe funds whl¢h are to be used accoff dancewlth specSflc restrlcllon5 Imposed by donor5 or whlch hove been ralsed by the CharlSty for partlcular purposes. Thecost of Talslng and admlnlstratlng such lundsare charged a8alnst the speclflc lund. Restrlcted funds may only be transferred to general or desl8nated funds once the crlterla for restrlcllons have been dlschaiged or no longerapply, Incoming Resources All Incomln8 resources are Included In thestatement of Flnancl31 Actlvltleswhen the charltyls legally entltled to the Income and theamount can be quantlfled wlth feasonable accuracy. Grantsand revenue gonprated are recon815ed In theSOFA In the perSofl In whlch they are recelvable. lTrcome Is only deferred when thecharlty has to lulill condltlons before becomln8entltled lo It or wheiethe donor/funder hasspeclfled thatthelncomelsto beexpended In afutureperlod. PAGE 8
BALLYMAC FRIENDSHIP TRUSTLTO NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 I. ACCOUNTING POLICIES(conllnuedl Re50ur5es expended Re50urse5 expended are Included In the Statement of Flnanclal Actlvltle5 on an accrual basls, Snclusive ofanyVATwhlch may be Irrecoverable. Charltabl e expendlture comprlses those costs Incurred by the charlty In the dellvery of Its actlvltles and servlces for Its beneftclaries. It Includes both costs that can be allocated dlrectly to such actlvlties and those costs of an Indlrect naturenecessary to Support them. Govern3ncecost5includethose¢oStsa5soclated wlth meetlng thecon5tltvtlonal and statutory requlrements of the charlty and Include the audlt fee and costs Ilnked to the strate8lc management of the charlty, All Costs are allocated between the expendlture categorlesof the Statement of Flnanclal Actlvltles on a tsasls deslgned to reflect the use of the resource. Costs relatlng to a partlcular a¢tlvlty are allocated dlrectly,, others are apportloned on an hppropTlate ba51s. VAT Thecharlty Is not reglstered for VATpurposes, therefore IrrecoverableVATls charged to the Statement of Flnanclal Actlvltles, or capltallsed as part of the c05t of the related asset, where approprlate. TAXATION Thecompany Isa reglstered charltyand thecharltable taxexemptlonsarethereforebelngclalmed to the extent that Income andlor 8aln5 are appllcable and applled to charltable purposes only. These exemptlons wlll remaln In placeas long as Income and expendlture Is applled to charltable purposes only. 2. VOLUNTARY INCOME Unrestrlcted Total Funds Total Funds Funds 2024 2023 Grants recelvable 8elfast Clty Councll 13.194 13,194 18,000 13.194 13,194 18,000 PAGE 9
BALLYMAC FRI ENDSHIP TRUST LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 3. INVESTMENT INCOME restrletéd Funds Total Funds 2024 Total Funds 2023 Bank Interest recelvable 42 42 42 42 23 23 4. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES Unresirfrted Funds Restfkted Funds Total funds 2024 Total funds 2023 Publlc Health Agenry Communlty Foundatlon Room Hlre & mlsc Income Clare CC Belfast Educatlon- Llbrary Board Belfast City Ci>uncll- Pl08MMe Cosls Belfast Regeneratfon Ofllce DFA Radlus E8C SIB Tlie Executlve Offlce Othermlsclncome 5.997 5,997 3,476 1,687 35,622 15,892 15,892 18,788 4,315 18,788 4315 1,800 35,995 114,867 94,297 IOP18 94,297 IOP18 4,000 8,000 117,426 78,577 78,577 15192 211,992 227,884 322,873 PAGE 10
BALLYMACFRIINDSHIP TRUSTLTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 S. GOVERNANCE COSTS UNeslrfded Funds Restrfcted Funds Total Funds 2024 Audlt Fees 1,200 1,200 1,200 1,200 6. NET IOUTGOINGI/INCOMING RESOURSES FOR THE YEAR thls15 staled after ch8rglng; Total fund5 2024 Tothl funds 2023 DepieclallDn Audltors remunerntlon 8P98 1,200 7,878 1,200 7. STAFF COSTS AND EMOIUMENTS Total stalfcosts vnre as lollow5: 2024 2023 Wage5 & Salarfes 101,297 96,040 Partlculars of employees.. The average number Df employees dUrt the year, cakulated on the ba51s offulltfme equlvalents, was as follows: 2024 2024 Numberofstaff PAGE 11
BALLYMAC FRIENDSHIP TRUSTLTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 7. STAFF COSTS AND EMOLUMENTS lcontknued) No employee Yecelved remuneratEon of more than £61Km thrfng the year(2023- ML) TANGIBLE FIXEDASSETS Flxtures & Equlpment Fittlngs Le8sehokl Pmperty Total COST At 1st Apnl 2023 Addlllons A131stMarch 2024 55,230 I,ioi 56.331 21,811 447,584 524,625 I,ioi 525,726 21,811 447,584 DEPRECIATION At 1st Aprfl 2023 Charge for Ihe year 46,149 3.403 21011 69,659 4,695 137,619 8,098 Al 31st March 2024 49.552 21,811 74?54 145,717 NET 8OOKVAIUE Ai 31 March 2024 6,779 373230 380,009 At31 March 2023 9,081 377,925 387,006 9. DEBTORS 2024 2023 Bank Trade Debto 8,235 24052 90OQ 33,852 8.235 PAGE 12
BALLYMAC FRI ENDSHIP TRUST LTD NOTES TO THE FI NANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 10. CREt)ITORS: Amounts falling due wllhlnone yeaf 2024 2023 gank loans and overdrafts Trade Credllo Accwa15 3P76 18157 2,392 20,984 1,21JO 24,576 21,933 11, RESTRICTED INCOME FUNDS Balance at Income 0110412023 Resources OulgDln8 Re50urces 8alance al 3V0312024 Resirlcted Fund 384,928 212.034 237,441 359,521 12, uNRESTRIEo}NCoME FUNDS 8alon¢e at Income 01/04/2023 Resource$ Oulgol Re50ur(es Balae at 31103/2024 General Funds 11,3S4 29,086 33,650 6,790 PAGE 13
BALLYMACFRIENDSHIP TRUST LTD DETAILEO STATEMENTOF FINANaAI ACTIVITIES YEAR ENDED 31 MARCH 2024 2024 2024 2023 2023 INCOMING RESOURCES VOLUNTARY I NCOME Belfasi city Councll- Revenue Grdnt 13,194 18,000 13,194 18,000 INVESTMENT INCOME Bank lnIe$t 42 23 42 23 INCOMING RESOUKES FROM CHARITABIE ACTivifiES Publlc Health Ag¢ncv Clare CC Communlty Foundallon Room HI & mlsc Income ThÈ Execulfve Offlce 8elfast Educatlon- Llbrnry 8oanl Belfast Clty Councll- Progfamrne Costs 8elf051 Ilegenerntlon Ofllce OFA Radlus EBCD 515 5,997 18,788 3,476 1,687 35,622 IS92 78,577 4,315 IAOO 35,995 114,867 94,297 10,018 400 8,000 117,426 227 322R73 TOTAL INCOM I NG RESOURCES 241,120 340,896 AESOURCES EXPENDED CHARITABLE ACTIVITIES Staff Costs- Wa8es & Salarfes Staff C05ts- Recrultemenl Establlshment. Llght & Heat Estab115hmenl. Repalts & Malnlenance Establlshment. Insurance Moior& Trnvel Costs Legal & Professlonal Ofllce Expenses- Telephone Offlce Expenses. Other Dep(latIOn 101.297 96,040 4,472 15,668 7,826 1,836 7,620 844 7,372 657 13 1,240 3,394 7,878 1,295 2,178 PAGE 15
RESOURCES EXPENDED CHARITABLE ACTIVITIES CONT'D 2024 2024 2023 2023 Renl Dlrect Charftable acilvllly. &ink Char8es Dlrect Charltable actlvlty- Programme Costs 4,171 375 122,67S 868 536 269I91 348.366 GOVERNANCE COSTS Audlt Fees 1.200 1,2CXI 1,2C(I 1,200 TOTAL RESCOURCES EXPENDED 271,091 349,566 NET ioufGOI NGIIINCOMING RESOURCES FOR THE YEAR 129.9711 PAGE 16