BALLYMAC FRIENDSHIP TRUST LTD STATEMENTOF FINANCIAL AcnviTIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNTI YEAR ENDED 31 MARCH 2025 The statement of Fi nancial Activities i ncl udes al I gai ns and losses in the year and therefore a statement of total recognisted gains and losses has not been prepared. Al l of the above amounts relate to conti nui ng activities UnstriCted Funds Restricted Funds Total Funds Total Funds 2025 2024 Note INCOMING RESOURCES Incoming re50urse5 from generating funds Voluntary Income I nvestment income I ncoming resourses from charitable activities 13,194 42 22784 7,515 124,467 131,982 TOTAL INCOMING RESOURCES 7,515 124,474 131,989 241,120 RISOURCES EXPENDEO Cha ritable Actlvltles Govemance Costs 24*13 134,820 1,000 159,633 I,oc 269,891 1,200 TOTAL RESOURCES EXPENDED 24.813 135.820 160,633 271,091 NET IOUTGOINGSIIINCOMING RESOURCES FOR THE YEAR/NET IEXPENDITUTREI/INCOME FOR THE YEAR RECONCILIATION OF FUNDS {17,2991 (11,346) {28,644) {29,9711 Total funds brought forward 6.790 359,521 366,311 396,282 TOTAL FUNDS CARRIED FORWARD {10,5091 348,175 337,667 366,311 PAGE 6
BALLYMAC FRIENDSHIP TRUSTLTD BALANCE SHEET ASAT31 MARH 2025 Note 2025 2024 FIXED ASSETS rangible Assets 371.911 380,009 CURRENT ASSETS Debtors 8,235 CREDITORS Amounts falling due within l year io 34,245 21,933 113,698) 134,2451 NET CURRENT ASSETS 134,245) 113,6981 TOTAL ASSETS LESS CURRENT LIABILITIES 337.667 366,311 TOTAL ASSETS 337.667 366,311 FUND5 Restricted income funds Unrestricted income fund5 li 12 348,175 110,S091 359,521 6,790 337,667 366,311 For the year ended 31st March 2025 the company was entitled to exemption from audit under section 477 oftheCompaniesAct 2006 relatinEtO Small companies. Trustee's responsi blitl ie5 The n)embers have not required the company to obtain an audit of its accounts for the the Act year in question in accordancewith section 476 and,, The trustees acknowledge their responsibliltie5 for complyingwith the requirements of with respect to accounting records and the preparation of accounts. Thefinancial statements were approved bythe membersof the committeeand authorised for issueon 31st December2024 and aresigned on their behalf by: M5KHolmes PAGE 7
BALLYMAC FRIENDSHIP TRUST LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 I, ACCOUNTING POLICIES Basis of accou nting The fi nancial statement have been prepared under the hlstorical cost convention and in accordance with the Fi nancial Reporting Standard for Smaller Entities leffiective Apri120081, and the requirements of the St3tement of Recommended Practice, Accounting and Reporting by Charlties. issued In March 2005 ISORP 20051. Fi xed Assets Al I fixed assets are initial Iv recorded at cost. Depreciation Depreciatlon is calculated so as to write off the cost of an asset, less its estimated residual value, over the usefu l economic l ife of that asset as follows.. 20% Straight Line 20% Straight Line 2%Straight Line Fund Accounting Unrestricted funds are funds which are avallable for use at ihe discretlon of the Trustees In furtherance of the general objectlves of the Chartiy and wh Ich have not been designated fo r other purposes. Restricted fu nds are fijnds wh ich are to be used in accordance with specific restrictions i m posed bv donors o r wh ich have been raised by the Chariity for partlcular purposes. The cost of raisi ng and administrati ng such funds are charged agalnst the specific fund. Restricted funds may only be transferred to general or designated funds once the criteria for restrictions have been discharged or no lon8erapplv. Incomln8 Resources All incomingresourcesarelncluded in thestatement of Financial Activitleswhen thecharity islegally entitled to the income and theamount can bequantified with reasonable accuracy. Grants and revenuegenerateé are recongised in theSOFA in the period in whlch they are receivable. Income Is only deferred when the c harity has to fLElfil conditlons before becoming entitled to it or where the donor/funder has specifi ed that the i ncoTne15 to be expended in a future period. PAGE 8
BALLYMAC FRIENDSHIP TRUST LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 I. ACCOUNTING POLICIES Icontinuedl Resourses expended Resourses expended are included in thestatement of Financial Activities on an accrual basis, inclusiveofany VAT which may be irrecoverable. Charitable expenditurecomprisesthosecostsincurred bythecharity in thedeliveryof itsactivities and services for its benefi ciaries. It i ncl udes both costs that can be al located directly to such activities and those costs of an indirect nature necessaryto support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements ofthe charity and includethe audit fee and costs linked to the strategic management of thecharity. All cost5 are allocated between theexpenditure categoriesof the Statement of Financial Activitles on a basis designed to reflect the use of the resource. Cost5 relati ng to a particular activity are al located directly; others are apportioned on an appropriate basis. VAT The charity is not registered for VAT purposes, therefore irrecoverable VATIS charged to the Statement of Fi nancial Activities, or capital i sed as part of the cost of the related a55et, where appropriate. TAXATION The company is a registered charity and thecharitable tax exemptions aretherefore being claimed to the extent that income and/or gains are applicableand applied to charitable purposes only. These exemptionswill remain in placeas longasincomeand expenditureisapplied to charitable purposes only. 2. VOLUNTARY INCOME Unrestricted Total Funds Tot31 Funds Fund5 2025 2024 Grants receivable Belfast Citycouncil 13,194 13,194 PAGE 9
BALLYMAC FRIENDSHIP TRUST LTD NOTE5 TOTHE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 3, INVESTMENT INCOME Unrestrirted Funds Total Funds 2025 Total Funds 2024 Ba nk Interest receivab 42 23 4. INCOMING RESOURCES FROM CHARITABLE AcfiviTIES UnStrICted Funds Restricted Funds Totsl funds 2025 Tots I funds 2024 Publlc Health Agency Communlty Foundation Room Hire & misc Income Clare CC Belfast Education- Library Board Belfast City Council - Programme Costs Belfast Regeneration Office DFA Radlus EBCD Yout'h Initatives The Executive Offlce Other Misc Income 1,205 1,205 5,997 6,415 6,415 7,772 15,892 18,788 4,315 7,772 19551 78.210 19551 78,210 94,297 10.018 4,533 33,702 4,533 33,702 1.100 78,577 I,ioo 7,515 124.467 131.982 227,884 PAGE 10
BALLYMAC FRIENDSHIP TRUST LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 5, GOVERNANCE COSTS Unrestricted Funds Restrlcted Funds Total Funds 2025 Audit Fees 1.000 1.000 1,000 I,LK)O 6. NET IOUTGOINGI/INCOMING RESOURSES FOR THE YEAR thls is stated aftercharglng,, Total funds 2025 Total funds 2024 Depreciation Auditors remuneratlon 8,098 I,0 8,098 1,200 7. STAFF COSTS AND EMOLUMENTS Total staff costs were as follows: 2025 2024 Wages & Salaries 64,473 101.297 Particula rs of employees.. The average number of employees during the year, calculated on the basis of full time equivalents, was as follows.. 2025 2024 NumberofStaff PAGE 11
BALLYMAC FRIENDSHIP TRUST LTD NOTES TOTHE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 7. STAFF COSTS AND EMOLUMENTS Icontinuedl No employee received remuneration of more than £600(K) during the year{2024- NILI 8. TANGIBLE FIXED ASSETS Fixtures & Equipment Fittings Leasehold Property Total COST At 1st April 2024 Additions At31st March 2025 56331 2111 447,584 525,726 56,331 21,811 447,584 525,726 DEPRECIATION At 1st April 2024 Charge for the year 49,552 3,403 21,811 74.354 4.695 145,717 8,098 At 31st March 2025 52,955 21,811 79,049 153,815 NET BOOK VALUE At31 March 2025 3,376 368,535 371,911 At31 March 2024 6,779 373,230 380,009 9. DEBTORS 2025 2024 Bank Trade Debtors 8,235 8,235 PAGE 12
BALLYMAC FRIENDSHIP TRUST LTD NOTES TO THE FINANCIAL STATEMENT5 YEAR ENDED 31 MARCH 2025 10. CRF.DITORS'. Amounts falllng due within one year 2025 2024 Bank loans and overdrafts Trade Creditors Accruals 15,378 I867 3,076 18.857 34,245 21,933 11, RESTRicfEDINCOME FUNDS 8alance at Income 01/04/2024 Resources Outgoing Re50uffes Balance at 3110312025 Restrfcted Fund 359,S21 124,474 135,820 348,175 12. UNRESTRicfED INCOME FUNDS Balance at Income 0110412024 Resources Outgoing Resource5 Balanceat 3110312025 General Funds 6,790 7515 24,813 (10,5091 366.311 131,989 160,633 337,667 PAGE 13