rl (ry ¢D Z5 th ¢4 ro ZT ¢y CL L) THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets Investments 14 15 101,697 25.559.924 109,373 21,926.712 25.661,621 22,036,085 ul￿nt assets Debtors Cash at bank and in hand 16 311.772 5.903.441 278.352 18,733,415 6,215.213 19,011,767 Creditors: amounts falling due within one year 17 (1.290.730) (1,987,656) Net current assets 4,924.483 17,024,111 Total assets less current liabilities 30.586,104 39,060,196 Net assets exGluding pension liablllty 30,586.104 39.060,196 The funds of the CharEty Endowment funds Restricted incorne funds Unrestricted funds 20 19 22,979,926 6.813,996 792,182 19,398,645 18,738.569 922,982 30,586.104 39.C60,196 The finan¢ial statements were approved by the Trustees on 27 September 2024 DrAdrian Johnston Trustee 13- THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operating actlvltles Cash absorbed by operations 27 (11,454.065) {9,730,880) Investlng activitles Purchase of tangible fixed assets Purchase of investments Proceeds from disposal of investments Investment incorne received {8.642) (3.163.821) 3,106.519 477.988 {29,319) (943,283) 8.667,271 462.386 Net cash generated from Investlng activities 412,044 8.157.055 Flnancing activllles (Decreasefincrease in investment cash (1,787,954) (3.612,939) Net cash used In flnanGlng activities (1.787.954) (3.612,939) Net decrease in cash and cash equlvalents (12.829.975> (5,186.764) Cash and cash equivalents at beginning of year 18.733.415 23,920.179 Cash and cash equFvalents at end of year 5,903.440 18,733,415 14- THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charfty infonnation The Community Foundation for Northem Ireland is a registered charity in Northem Ireland. The registered office is Community House. Citylink Business Park. 6a Abert Street, Belfast. Co. Antrim, BT12 4HQ. 1.1 Accounting conventlon The financial statements have been prepared in accordance wth the Charity's goveming document, the Charities Act 2011, FRS 102 °The Financial Reporting Standard applicable in the UK and Republic of Ireland. fFRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" {effecb've 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of RecommÈnded Practice which is referred to in the Regulations but which has Sin￿ been withdrawn. The financial statements are prepared in sterfing, which is functional currency of the Charity. Monetary amounts in these financial ststements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. modified to include the revaluation of freehold properties and to indude investment properties and ￿rtain financial instruments at fair value. The princtpal accounting poliaes adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitsble objectives. Reslricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial siaternents. Endowment funds are subject to specific condttions by donors that the capital must be maintained by the Charity. 1.4 Income Income is recognised when the Charity is legally entitled to it after any perfomance conditions have been met, the amounts Gan be measured reliably. and it is probable that income will be received. Cash donations are recognised on re￿ipt. Other donations are recognised once the Charity has been notified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations rece5ved under Gift Aid or deeds of ￿venant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution. the amount is known. and recetpt is expected. If the amount is not known. the legacy is treated as a contingent asset. 15- THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies (Continued) 1.5 Expendlture Expenditure is recognised On￿ there is a legal or constructive obligation to transfer economic benefit to a third paty. it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is dassified by aCti￿llty. The costs of each acbwty a￿ made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributsble to a single activity are apportioned between those aGlivities on a basis consistent wth the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the of the a5seVs use. 1.6 Tangible fixèd assets Tangible fixed assets a￿ initially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impai￿ent losses. Depreciation is recognised so as to vfflte off the cost or valuation of assets less their residual values over their useful lives on the following bases- Freehold land and buildings Fixtures and fittings Computers 2% straight line 20% straight line 330A straight line The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale proceeds and the carying value of the asset. and is recognised in the statement of financial activities. 1.7 Fixed asset Investments Fixed asset investments are initially measured at transactton price excluding transaction costs, and are subsequently measured at fair value at each reporbng date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transa¢ts'on costs are expensed as inGurred. 1.8 Impalnnent of fixed assets At each reporting end date. the Charity reviews the carrying amounts of its tangible assets to detemiine whether there 15 any indication that those assets have suffered an impainnent loss. If any such indication exists, the recoverable amount of the asset is estimated in ¢yder to detemine the extent of the impaiment loss (if any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call wtth banks. other short-tem liquid investments with original maturtties of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowngs in Current liabilities. 1.10 Financlal Instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instwments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wth the net amounts presented in the financial ststements. when there is a legally enfortsable right to set off the recognised amounls and there is an intention to settle on a net basis or to realise the asset and settle the liabilty simultaneously. 16- THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Baslc financial assets Basic financial assets. which include debtors arKI cash and bank balances, are initially measured at transaction price including transaction costs and are subsequenuy carried at amortised cost using the effective interest method unless the arrangement constitutes a ffinancing transaction. where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial Ilabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitLrtes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a marf(et rate of interest. Financial liabiltknes dassified as payable within ¢)ne year are not amorti5ed. Debt instruments are subsequenly carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassthed as current liabilities rf payment is due wlthin one year or less. If not. they are presented as non