Ballymacash Sports Academy Limited
Trustees, Report
The trustees, who are directors for the purposes of company law, present the annual report
together with the financial statement5 of the charitable company for the year ended 31
March 2023.
Objectlves and activitles
Objects and aims
The charity exists to offer affordable sporting facilities to all, regardless of age, gender or
disability, while providing a home for sports clubs, youth groups, community groups and the
wider community.
The charity aims to:
lal provide or asslst in the provision of facilities and services primarily for the benefit of the
community and visitors to and residents of Ballymacash and surrounding areas for
recrectional, sporting or other leisure time occupation in the interests of social welfare; such
facilities being provided to the public at large. save that special facilities may be provided
for persons, who by reason of their youth, age, infirmify or disability, poverty or Social or
economic circumstances may have need of special facilities and services; and
Ibl advance amateur sport by maintaining focilitie5 for the home ground of Ballymacash
Rangers Football Club a5 the pre-eminent enterprise in the amateur football community of
Lisburn.
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Ballymacash Sports Academy Limited
Trustees, Report
Objectives. strategies and activities
The charity has received income from private and social enterprises during the year arising
from the hire of the charity's facilities. Furthermore, it has received revenue grant funding
from Ihe following sources:
l. Northern Ireland Housing Executive: and
2. Lisburn & Castlereagh City Council.
In addition, the charity hos received capital funding, to assist with the installation of a new
3G Artifical Surface and the Communily Sports Hub, from the fo15owing sources:
l. Department of Communities,.
2. Co-op Foundation;
3. Army Covenant Fund:
4. Halifax Foundation;
5. National Lottery Community Fund:
6. Groundworks Nl:
7. Li5bum & Castlereagh City Council;
8. Northern Iieland Housing Executive; and
9. Community Ownership Fund.
The financial statements disclose a disappointing year, wlth a significant deficit being
returned; this has been chorged to reserves. While a significant deficit has been returned, this
is greatly reduced, once depreciation and deferred income release have been factored in.
However, while the financial statements may show small levels of activity, these do not
demonstrate the tremendous advances made by the Academy during year. in particular the
completion of work on the 3G Artifical Surface and associated works. It is anticipated that
these advances will begin to bear financial benefits in the current financial year and
beyond.
Public beneflt
The charity has engaged with the community via numerous public meetings to ensure that
the public are aware of the charity's aims and objectives. The charily has commenced the
utilisation of its facilitie5 to the target groups, as detailed earlier.
In line with its stated aims and objectives, as noted above, the trustees are confident that the
charity is undertaking activities which provide public benefit to those who avail of it5 Services.
Use of volunteers
The charity utilises the services of volunteer5. The trustees acknowledge that all volunteers
contribute to the success of the charity's activities.
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Ballymacash Sports Academy Limited
Trustees, Report
Going eoncem
The financial statements have been prepared under the assumption that the charity will
continue to operate a5 a going concern. The t￿SteeS are confident that Ihe charity retains
sufficient reserves to enable its continued operation for the foreseeable future. On this basis,
the trustees believe it is appropriate to prepare the financial statements on a going concern
basis.
Trustees and offlcers
The trustees and officers serving during the year and since the year end were as follows:
Trustees:
Mr Philip Trimble
Mr Clarke Thompson
Mrs Sandra Walsh
Mr Kenneth McAleenon
Mr Christopher Finlay
Mrs Laura Tumer
Mr Ryan Brown
Miss Jodle Murphy
Mrs Anita Waite
Mr Philip Adalr (appointed 24 November 20221
Chairman:
Mr Philip Trimble
Mrs Anito Waite
Secretary".
structure, govemance and management
NatuR of governing document
The charity is registered as a Northem Ireland IndustriallProvident Company. governed by its
constitution. It has been granted charitable status by The Charity Commission for Northem
Ireland under regislration number NIC107431.
Recrultment and appolntment of Irustees
If appropriate, new trustees are invited onto the Board at the annual general meeting. There
are no specific requirements regarding skills or experience. However, the curTent trustees
recognise the importance of a diverse and competent Board and this will impact upon any
nomination. Those who are invited will be involved with Ballymacash Sports Academy and
will be held in high regard for their work.
Induclion and Iralnlng of truslees
New trustees receive appropriate induction procedures and training upon appointment.
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Ballymacash Sports Academy Limited
Trustees. Report
Arrangements for selhng key monagement personnel remunerafvon
No trustees receive any remuneration for fheir services.
Organisalional structure
The Board are currently responsible for the day to day running of the chority.
The trustees meet between eight and ten times annually to discuss financial and strategic
issues, policy and procedures decisions, and to rafify significant legally binding decisions.
Financial instruments
Objeclives and pollcles
The charity's activities expose it to a number of financial risks including credit risk, cash flow
risk and liquidity risk. The use of financial derivatives is governed by the charity's policies
approved by the board of trustees. which provide written principles on the use of financial
derivatives to manage these risks. The charity does not use derivative financial instruments for
speculative purposes.
Cash flow rlsk
The charity'5 activities expose it primarily to the financial risks of changes in foreign currency
exchange rates and interest rates. The charity uses foreign exchange forward contracts and
interest rate swap contracts to hedge these exposures.
Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
Credifr rfsk
The charity's principal financial assets are bank balances and cash, trade and other
receivobles, and investments.
The charity's credit risk is primarily attributable to its trade receivables. The amount5
presented in the balance sheet are net of allowances for doubtful receivable5. An
allowance for impairment is made where there is an identified loss event which. based on
previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the
counterparties are banks with high credit-ratings assigned by internationol credit-rating
agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large
number of counterparties and customers.
Liquidity rfsk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing
operations and future developments, the charity uses a mixture of long-term and short-term
debt finance.
Further details regarding liquidity risk can be found in the Statement of accounting policies in
the financial statements.
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Ballymacash Sports Academy Limited
Trustees, Report
statement of trustees, responsibilities
The trustees Iwho are also the directors of Ballymacash Sports Academy Limited for the
purposes of company lawl are responsible for preparing the trustees, report and the financial
statements in accordance with applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Financial
Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year.
Under company law the trustees must not approve the financial statemen*5 unless they ore
satisfied that they give a true and fair view of the state of affairs of the charitable company
and of the incoming resources and application of resources. including its income and
expenditure, of the charitable company for that period. In preparing these financial
statements, the trustees are required to:
select suitable accounting policies and apply them consistently",
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudenl;
state whether applicabl8 accounting standards, comprising FRS 102 have been followed,
subject to any material departures disclosed and explained in the financial statements;
and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with
reasonable occuracy at any time the financial position of the charitable company and
enable them to ensure that the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charitable company and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial
information included on the charitable company's website. Legislation governing the
preparation and dissemination of financial statements may differ from legislation in other
jurisdictions.
The annual report was approved by the trustees of the charity on 30 November 2023 and
signed on its behalf by:
Mrs Anito Waite
Company secretary and trustee
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