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
29￿6
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- Pl08￿MMe
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, uNRESTRI￿Eo}NCoME FUNDS
8alon¢e at Income
01/04/2023 Resource$
Oulgol
Re50ur(es
Bala￿e 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
IS￿92
78,577
4,315
IAOO
35,995
114,867
94,297
10,018
4￿00
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