Charity Number: NIC104638 Rathfriland Football Club Annual Report and Unaudited Financial Statements for the financial period ended 31 December 2023 Daly Park & Company Ltd Chartered Accountsnts 4 Carnegie Street Lurgan Co. Armagh BT66 6AS Northern Ireland
Rathfriland Football Club CONTENTS Page Trustees, and Other Information Trustees, Report Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements
Rathfriland Football Club TRUSTEES. AND OTHER INFORMATION Trustees Howard Newman Murray Lindsay Bronte Desmond Davenport Mark Ingram David Gilmore Glen Bell Lee McDowell Chairperson Adrian Megaw Charity Number in Northern Ireland NIC104638 Principal Address Rathfriland Football Club Iveagh Park Rathffiland Co. Down BT34 5NQ Northem Ireland Independent Examiner Daly Park & Company Ltd Chartered Accountants 4 Carnegie Street Lurgan Co. Amiagh BT66 6AS Northern Ireland Principal Bankers Ulster Bank 22 Bridge Street Banbridge Co. Down BT32 3JT Northern Ireland Solicitors Gordon Bell & Son 9-11 Newry Street Rathfriland Co. Down BT34 SPY Northern Ireland
Rathfriland Football Club TRUSTEES. REPORT for the financial period ended 31 December 2023 The trustees present their Trustees. Report and the unaudited financial slatements for the financial period ended 31 December 2023. The financial statements are prepared in accordan with the Charities Act (Northern Ireland) 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement of Recommended Practice appIlble to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Trustees, Report contains the information required to be provided in the Trustees. Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the company are also charity Iwstees for the purpose of charity law and under the company's conslitulion are known as members of the board of trustees. In this report the trustees of Rathfriland Football Club present a summary of its purpose, governance, activities, achievements and finances for the financial financial period 31 December 2023. The charity is a registered charity and hence the report and results are presented in a form which complies with the requirements of the Charities Act (Northem Ireland) 2008 and, although not obliged to comply with the Statement ol Recommended Practice applicable in the UK and Republic of Ireland FRS 102. the organisation has implemented ils recommendations where relevant in these financial statements. Mission, Objectives and Strategy Mission Statsment The Charity has given careful consideration to the Nl Charity Commission guidance on public benefit to ensure that the activities entered in during the year have helped to achieve the charity's aim and objectives as well as providing a public benefit. Objectives The Club has been established to promote fftness, advance education and facilitate social development from the age of 6 through healthy participation in sports and Association Football. To provide a cross community social recreational facility with an emphasis on sporting and recreational activities within ABC Council Borough without distinction of age, sex. race. political, religious or other public opinion. To work with local slatutory agencies and provide a modern, fit for purpose shared facility with the objective of improving the condilions for the said inhabitants. Structure. Governance and Management structure Rathfriland Football Club is governed by a Constitution and a management committee Ihat is elected from the body of the floor at the AGM. The Committee will ensure that the club members and volunteers adhere to the aims and rules described in the constitution. They are also responsible for the day to day management of the club and facilities, ensuring fully compliant with all InsurancelLicencelFirelHealth & Safety and Child Protection guidelines. Governance The Committee are responsible for the appointment of 7 Trustees. These individuals will only be appointed when the committee is clear that they fvlfil the criteria of the Nl Charily commission-_ That they are eligible by'.- having no unspent convictions promoting the ethos of the Club and to be fully knowledgeable of the Constitution take decisions made free from prejudice and in the Charity's best interests make sure the Club is sustainable and resources are managed responsibly - be accounlable to the members adhere to Nl Charity Commission guidance and reporting requirements Brian Todd (President) Adrian Megaw (Chairperson) & Bobby McDowell (Wice Chairperson) Lindsay Bronte (Secretary) & Kathy Thompson (Assl Secretary) Paul Gibbons reasUrer) & Howard Murray (Asst Treasurer) Eric Annett (PRO) Gordon Wilson (Facilities Manager) Alan Shaw {Commercial Manager) & Mervyn Groves (Asst Commercial Manager) David Gilmore Iyouth Development Manager)
Rathfriland Football Club TRUSTEES, REPORT for the financial period ended 31 Dember 2023 Public Benefit Statement The Charity has given careful consideration to the Nl Charity Commission guidan on public benefit to ensure that the activities entered in during the year have helped to achieve the charity's aim and objectives as well as providing a public benefit. Review of Actlvities, Achievements and Perfomiance Aims The Club continues to encourage and promote fitness activities for ALL from the age of 6 and to facilitate in the development of association football. It is through healthy participation in our sporting activities and the integral social inclusion programmes that will aid the development of our members and resull in better life conditions and opportunities. The Clubs, ethos is to improve sporting and social development of members ofthe community and lo foster good cross community relations in the ABC Council Borough area. A key priority is to see the successful development of youth football and unconditionally supporting other community and voluntary organisations and activities. The Club currently have 3 senior teams, 210 junior members and 40 coaches. he club is established to promote health. fitness. advance education and facilitate social development. through participation in sports and Association Football, who reside in Ralhfriland and it's environs of ABC Council without the distinction of age, gender, disability. sexual orientation, nationality, ethnic idenlity, political or religious opinion, in a common effort to advance education, and to provide facilities in the interests of social welfare for recreation and or other leisure-time occupation. with the objectives of improving health and well-being of said people". Achievements The committee once again musl be commended for their own personal donations, and efforts in securing sponsorship and helping to organise events and nights to raise much needed revenue to meet the costs of managing a successful club. A special mention to Mr Gary Wlson and Mr David Niblock for their efforts and commitment in generated much needed income through organising various events, match day sponsorship and season tickets. The pitches were again maintained at a high level with many games taking place even with inclement weather. The club are indebled to GordonlJuniorlDessielJohn and the chaiman for the diligent work and many hours spent maintaining the pitch and the facilities. A thankless job and the club need to recognise the countless hours undertaken sometimes forgotten. however the Workload taken on needs to be spread as the club grows the workload increases. Following 35 long and successful years in the Nl Amateur League. 2024 season took Rathfriland Rangers and their supporters to many new grounds for the first lime in NIFL. Rathfriland can look back on the year with pride. finishing their first season in 41h and as the 27th best supported team in Northern Ireland. Boxing Day 2023 will be long remembered in the history of Rathfriland FC, hosting the Bob Radcliffe Cup Final. A great community day. the biggest crowd in the club's history saw the Rangers dominate local rival Moneyslane and njn out comfortable 6 nil winners. Congralulations to Ethan Trimble for leading the Swifts to Iheir first Cup win and a big thank you lo Jusly Brown. David Gilmore and Gary Young for all their work and success with Rathfriland Reserves.and wishing them the best in their move to Tandragee Rovers. As always. Rathfriland FC are a forward-thinking club and continue to make improvements to their facilities. Work completed on new Iloodlighting on Iveagh Park allowing Rathfriland Rangers to host competitive match for the first time in their history. The club's first game under the new lights was against local rivals, Banbridge Town. with a crowd of over 400 in attendance. The Club are also indebted to many new volunteers that have helped in various different ways over the season. Ben Graham helping at various events and Elaine Scott central to increasing the profile of ladies football in the local area. Rathfriland Football secured various grants from different funders, and we are indebted to all our sponsors for their continued commitment and support. The Club strive to grow its membership and modemise existing facilities, all within a strÈct financial regime, ensuring we are able to meet all our financial commitments and ensure sustainable of the club. An overspend on erecting new Solar Panels and LED floodlighting around Iveagh Park, resulted in the club temporarily needing a small overdraft facility, which it seeks to repay in full 2024125. The club continue to make their facilities available lo the community of Rathfriland, with various schools, religious organisations and community associations using the club's facilitieslpitches. Once again, the Club are again Ihankful for the endless number of volunteer hours put into by all committee members and community, but a special thank you must be also be given to Alison Megaw, Jennifer Groves, Flo Shaw. Shelia Todd, Kathy and events committee. Results and Dividends At the end of the financial period the charity has assets of £897,694 (Jun 23 - £673.642) and liabililies of £1,680 (Jun 23 - £840). The net assets of the charity have increased by £223.212.
Rathfriland Football Club TRUSTEES, REPORT for the financial period ended 31 December 2023 Plans for the Future The Club's main goal is to continue the path followed over the last few years. maintaining the policy of sound management. by monitoring all aspects of our finances and encouraging community support for all activities. With the introduction of a new Under 21 team proposed for the incoming season and a lack of local training facjlilies, Rathfriland would like to create a much needed training area in land adjacent to car park. Ralhfriland Football Club have identified several PTojects and have engage in the services of Richard Forsylhe to assist in the continued developments of grounds and facilities at Iveagh Park to make sure that they remain up lo date and fit for 21st century. With a growing youth section, 2 ladies teams and 4 senior teams, il is always important to ensure facilities remain modern and can meet the demands of increasing use. In accordance with the Constitution, the trustees retire by rotation and, being eliJible, offer themselves for re-election. Compliance with Sector-wide Legislation and Standards The Charity engages pro-aelively with legislation. standards and codes which are developed for the sector. Rathfriland Football Club subscribes to and is compliant wlh the following.. The Charities SORP IFRS 1021 Approved by the Board of Trustees on 19 March 2024 and signed on its behalf by: Howa Trus Nowma rray 098mond DInPOrt Thi*tee
Ralhfriland Football Club STATEMENT OF TRUSTEES. RESPONSIBILITIES rthe flnancld perf¢>J anded 31 Dg(mber2023 The truste ore responslble for prep3rtng th& finandal statsments in accordanc8 ¥th AppThcaN¢18w atTrJ regulalrDn8. The lawappllcablo to chHrftt98 In North•m Iland r4qulr88 ih•tNgtae8 to pr8parèfinandalatsmentsfor•ach flnaft¢lal pariod whlL gfvg a trug and lalr vl8w of th8 assets, lJ8blltl05 and flnanclal poslllon ol tho tharity at thB fin8nclal perlod ènd datè 8nd ofth8 suWusordoficf(ofthe charftyand otheThvlso COMyVth Ih8 Ch8rfttè& Arl (Northem Iroland) 2008..__-_ In prepaiing thes8 finandal stst4manls. Ihe truslges are requtred to.. select $utt8ble aecounllng pollcles 8nd appty ihom conslgtenly.. ob¥tsN• lh8 DJelhc¢s•nd prin¢ipl& in Charities SORP ffl8ke Igements and ac¢ounting eBtirnate8 thol ar6 r50[18b1e wdent.. state whether Ihe ffn8nci81 slatements havo been prepared n ac¢ord8nce with appC&bIt aGwunting stsndards, id•ntify thtaa At8ndords. gnd not8 thé èffect and Ihg reasons for ary matorfal d•partur• from 1h050 818ndard$,' and wopar• tho flnancAI 5tot8mgnt6 C tho qolno conc4m basis unl956 It IB inappropriat8 to prnsurno that lh• charfty wlll continuo in opeT8tion. The Iruslees confirn Ihat they h8v8 ccfflpll8dwSth Ihg ab rnqulrements In preparfng th& ffnaneAal glat8m&nl8. 'Th• irustse3 are r8sponslbl8 Icf ka8plng 8doquate accounlng records that ara SLrftid8ni w Show and exFlaln th8 charSW8 transactions and disdose wilh reasonable aturrdcy atarry time th8 fjnancial posltion ollhtr chBrityand en88 them to énsurg that the ftTrandal stotfjmonts comply wllh the Charilfjs Act (Northèm Irélandl 2008. Th8y are also raspongiblè for safeguarthn9 tho as8ets of the tharity and hence for leking r<asan8bl8 Steps for the wevention gn Approved by the Board of Trv•tso1 on 19 Mar¢h 2024 and 8lgnad on N8 bBhall by: ard Ne sleo urray Desrnond Davenport Tru•l••
Rathfriland Football Club INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF RATHFRILAND FOOTBALL CLUB We have examined the financial statements of the charity for the financial period endèd 31 Dember 2023. which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. This report is made solely to the charity's members, as a body. in accordance with the Charities Act (Northern Ireland) 2008. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Board of Trustees that we have done so, and slate those matters that we have agreed lo slate to them in this report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members, as a body, frjr our work, or for this report. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Acl {Northern Ireland) 2008. The charity's trustees consider that an audit is nol required for this financial period under the Charities Act (Northern Ireland) 2008 and that an independent examination is required. It is our responsibility to.. examine the financial statements under section 65 of the Charities Act. follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65{9){b) of the Charities Act- and state whether particular matters have come to our attention. Basis of independent examine$ report We have examined your charity financial statements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65{9){b) of the Charities Act. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records.11 also includes consideration ol any unusual items or disclosures in the financial statements and seeking explanations from the trustees conceming any such matters. The procedures undertaken do not provide all the evidence Ihat would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statement below. In connection with our examination, no matter has come to our attention which gives us cause to believe that in. any malerial respect: accounting records were nol kept in accordan with section 63 of the Charities Act the financial statements do not accord with those accounting records the financial statements have not been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) there is further information needed for a proper understanding of the accounts to be reached. Independent examinevs statement We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this re ort in order to enable a proper understanding of the financial statements to be reached. DAL ARK & COMPANY LTD Cha red Accountanls 4 Carnegie Street Lurgan Co. Armagh BT66 6AS Northem Ireland Date: 19 March 2024
Rathfriland Football Club STATEMENT OF FINANCIAL ACTIVITIES for the financial period ended 31 December 2023 Unrestricted Restrictsd Funds Funds Dec 23 Dec 23 Totsl Funds Dec 23 Total Funds Jun 23 Notes Income Donations and legacies Charitable activtties Fees and sponsorship Other trading activities Investments 12,063 24,773 36,836 63,845 34,125 40,164 50 34,125 40,164 50 37,203 66,327 69 Totsl income 86,402 24,773 111,175 167,4H Expenditure Raising funds Charitable activities Other Irading activities 2,174 34,377 19,472 2,174 59,150 19,472 1,400 108,307 27,057 24,773 Total Expenditure 56,023 24.773 80.796 136,764 Net Tncomel{expenditure) 30,379 30,379 30,680 Transfers between funds Other recognised gainsl(losses): Surplusl{deficit) frjr the financial period Net gainsl(losses) on investments 30.379 192,833 30,379 192,833 30,680 Net movement in funds for the financial period 223,212 223,212 30,680 Reconciliation of funds: Total funds beginning of the year 14 672,802 672,802 642.122 Total funds at the end of the year 896,014 896,014 672.802 The Statement of Financial Activities includes all gains and losses recognised in the financial peri¢Jd. All income and expenditure relate to continuing activities. The notes on pages 1110 16 fomi part of the financial statements
Rathfr114nd Football Club BALANCE SHEET 99 at 31 De¢•mber2023 DOG 23 Jun 23 Notq¥ Fl¥•d A•8•t• Tanglble assets 871A43 659,734 Current A•80ts Stocks 08btors C89h at b8rt io 11 662 1230 ZS.359 689 2.230 10,989 20351 13.908 1840) Not CuTh•ntA•Mts ¥571 13,06B Total ABs•ts Cumnt Ll•bllltl•8 896,011 6n,802 Fund• General fijnd lunrBgtrfcledl 8961114 672.802 Tot•1 fvrtd¢ qg8SJ 671802 The totsl unr•strfctèd lund5 include88 revalvallon reserve of £(192033) Tho flnandal gtat8mgnt$ havè bn prep8r•J In acr8CeW1lhlh8 pmv191on6 8ppllcab16 to companles sublactto the Small compani9s' reg1rn8 8nd in 8rxordonc8 wlth FRS 102 FlftsnBfAI Repon@ StBndord #pplie4blB In the UK and o(lrnland'.opptyiwSerJloTh lAtthAt&ll Apprw•d tyth• ald ofTNst••J and authorf••d for l•su• on 19 March 2024 and slgn•d an Its b•h•lfby How Trus Nowman rray 098mond DaTrPOrt Ttru•t•• The not•D on FW 11 to 1sfo part oftholkn•** 1Q
Rathfriland Football Club NOTES TO THE FINANCIAL STATEMENTS for the financial period ended 31 December 2023 GENERAL INFORMATION Rathfriland Football Club is a charity incorporated in Northern Ireland. The registered Offi of the company is Rathfriland Football Club, Iveagh Park, Rathfriland, Co. Down, BT34 5NQ, Northern Ireland which is also the principal place of business of the company The financial statements have been presented in Pound (£) which is also the functional currency of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity's financial slatements. Basls of preparation The financial statements have been prepared on the going concem basis undèr the historical cost convention, modified to include rtain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. As pemitted by the Companies Act 2006, the charity has varied the standard fomials in Ihat act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard fomiats are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. statement of compliance The financial statements of the charity for the financial period ended 31 December 2017 have been prepared on the going concem basis and in accordance with the Statement of Recommended Practice {SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. Fund accounting The following are the categorises of funds mainlained.. Restrfcted funds Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity. Unrestricted funds Unrestricted funds consist of General and Designated funds. General funds represent amounts which are expendable at the discretion of the board. in furtherance of the objectives of the charity. Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do nol legally restrrct the board's discretion to apply the fund. Income Voluntary income or capital is included in the Statement of Financial Activities when the charity is legally entitled to it. its financial value can be quantified with reasonable certainty and there is reasonable certainty of its ullimate receipt. Entitlement to legacies is considered established when the charity has been notified of a distribution to be made by the executors. Income received in advan of due performance under a contract is accounled for as deferred income unlil earned. Grants for activities are recognised as income when the related conditions for legal entitlement have been mel. All other income is accounted for on an accruals basis. Expenditure All resources expended are accounted for on an accruals basis. Charitable actwities include costs of services and grants, support costs and depreciation on related assets. Costs of generating funds similarly include fundraising activities. Non-staff costs not attributed to one category of activity are allocated or apportioned pro- rata to the staffing of the relevant service. Finance, HR, IT and administrative staff costs are directly attributable to individual activities by objective. Governance costs are those associated with constitutional and statutory requirements. 11
continued Rathfriland Football Club NOTES TO THE FINANCIAL STATEMENTS for the financial period ended 31 December 2023 Tangible fixed assets and depreciation Tangible fixed assets are slated at cost or at valuation, less accumulaled depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows.. Land and buildings freehold Long leasehold property Plant and machinery Fixtures, fittings and equipment 2% reducing balance 20% reducing balance 10 % reducing balance During this financial year the committee made the decision to change the depreciation on the buildings & stands to 2 % reducing balance rather than the previous 10 % rate. They feel this change in accounting policy is more reflective of the assets useful life. The land owned by the charity is not depreciated as it is not expected to decrease in value. Stock Slocks are stated at the lower of cost and net realisable value. after making due allowance for obsolete and slow moving items. Cost includes all costs incurred in the normal course of business in bringing them to their present location and condition. Stocks comprise fundraising materials. It is not considered practicable to value stock of unsold donated goods at the year end. Debtors Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net ofany Irade discounts due. Income recognised by the charity from government agencies and other co-funders, but not yet received al year end. is included in debtors. Cash at bank and in hand Cash al bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. Taxation No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. PERIOD OF FINANCIAL STATEMENTS The financial statements are for the 7 month period ended 31 December 2023. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds Dec 23 Jun 23 Donations and legacies Grant Income 12,063 12.063 24,773 16.675 33,194 24,773 12,063 24,773 36,836 49,869 CHARITABLE ACTIVITIES Unrestricted Restricted Funds Funds Dec 23 Jun 23 Grants from governments and other co-funders: Income from charitable activities Football Income 32,815 1,310 32,815 1,310 49,254 1.925 34,125 34,125 51,179 12
continued Rathfriland Football Club NOTES TO THE FINANCIAL STATEMENTS for the financial period ended 31 December 2023 OTHER TRADING ACTIVITIES Unrestrlcted Restricted Funds Funds Dec 23 Jun 23 Bar Income 40,164 40,164 66,327 INVESTMENTS Unrestricted Restricted Funds Funds Dec 23 Jun 23 Investments 50 50 69 EXPENDITURE RAISING FUNDS Direct Costs Other Costs Support Costs Dec 23 Jun 23 Raising funds 2,174 2,174 1.400 CHARITABLE ACTIVITIES Dlrect Costs Other Costs Support Costs Dec 23 Jun 23 Expenditure on charitable activites Football expendilure 689 1,799 24,389 24,325 26,813 32,337 51,252 57,055 689 26,188 32,273 59,150 108,307 OTHER TRADING ACTIVITIES Direct Costs other Costs Support Costs Dec 23 Jun 23 Bar expenses 19,472 19.472 27,057 13
ontinued Rathfriland Football Club NOTES TO THE FINANCIAL STATEMENTS for the financial period ended 31 December 2023 ANALYSIS OF SUPPORT COSTS Dec 23 Jun 23 Depreciation Fundraising costs Accountancy Subscriptions Coaches & referees Gear & gym expenses Prizes Premises costs 15,696 1,674 995 656 3,353 2,869 500 8,704 23.842 400 3,100 3,596 4.028 11.503 1,000 19.362 34.447 66,831 NET INCOME Dec 23 Jun 23 Net Income is statsd after chargingl(crediting): Depreciation of langible assets 15,696 23,842 INVESTMENT AND OTHER INCOME Dec 23 Jun 23 Bank interest 50 69 TANGIBLE FIXED ASSETS Land and buildings freehold Long leasehold property Plant and Fixtures, machinery fittings and equipment Total Cost or Valuation At 7 June 2023 Additions Revaluation 507.536 5,476 192,833 134.309 80,728 29.096 36,990 759,563 34,572 192.833 At 31 December 2023 705,845 134,309 109,824 36,990 986.968 Depreciation At 7 June 2023 Charge for the financial period 60.139 5,015 27,547 9,232 12,143 1,449 99.829 15,696 At 31 December 2023 65,154 36.779 13,592 115,525 Net book value At 31 December 2023 640.691 134,309 73,045 23,398 871,443 At 6 June 2023 447.397 134.309 53.181 24,847 659,734 10. STOCKS Dec 23 Jun 23 Finished goods and goods for resale 662 689 11. DEBTORS Dec 23 Jun 23 Prepayments and accrued income 2,230 2,230 14
continued Rathfriland Football Club NOTES TO THE FINANCIAL STATEMENTS for the financial period ended 31 December 2023 12. CREDITORS Amounts falllng due within one year Dec 23 Jun 23 Accruals and deferred income 1,680 840 13. RESERVES Revaluation reserve Funds Total At the beginning of the year 672,802 672,802 192.833 30,379 192,833 Surplus for the financial period 30,379 At the end of the year 192,833 703,181 896,014 14. FUNDS 14.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestrlcted Funds Total Funds At 7 June 2022 Movement during the financial year 642,122 30,680 642,122 30.680 At 6 June 2023 Movement during the financial year 672,802 223,212 672,802 223,212 At 31 December 2023 896,014 896,014 14.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance Income Expenditure 7 June 2023 Transfers between funds Gains and Balance losses 31 December Dec 23 ABC Council Irish FA Barclays 13,093 11.240 440 13,093 11,240 440 24,773 24.773 Unrestricted funds General Reserve Land & Buildings 13,070 659,732 86,402 40.327 15,696 (34,572) 34,572 24.573 871,441 192,833 872,802 86,402 (56.023) 192,833 896,014 Total funds 872,802 111,175 80,796 192,833 896.014 15. RELATED PARTY TRANSACTIONS We can confirm there have been no transactions involving trustees outside the normal course of business during the period ended 31 st December 2023. 15
continued Rathfriland Football Club NOTES TO THE FINANCIAL STATEMENTS for the financial period ended 31 December 2023 16. POST-BALANCE SHEET EVENTS There have been no significant evenls affecting the Charity since the financial period-end. 17. TRUSTEES REMUNERATION The trustees did not receive, nor did they waive, any remuneration during the current or previous financial period. 18. INDEPENDENT EXAMINATION REPORT The independent examinerfs remuneration amounts to an independent examination fee of £750 {June-23 £750). From year end December 2024, Daly Park & Company Ltd will also be providing VAT and PAYE setvices. 16