Ballymacash Sports Academy Limited
Statement of financial Activitles for the Year Ended 31 March 2024
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unreslricted
funds
Total
2024
Note
Income and Endowments from:
Donotions and legacies
Charitable activities
3.912
166.488
3,912
166,488
Totol income
170.4C()
170.400
Expendtture on:
Raising fund5
Charrtable activities
(8.293)
172.836
{8,2931
1172.836)
181,129
Total expenditure
181.129
Net expenditure
10,729
Net movement in funds
(10.7291
{10.7291
Reconcilialion of funds
Total funds brought forward
Total funds carried forword
95.956
95.956
14
85.227
85,227
The notes on pages 14 to 25 form on integral port of these financial statements.
Page 10

Ballymacash Sports Academy Limited
statement of Financial Activities for the Year Ended 31 March 2024
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
lunds
Total
2023
Note
Income and Endowments from:
Donations and legacies
Charitable activities
2.864
92,715
2,864
92.715
Total income
95.579
95.579
Expendilure on:
Raising funds
Charitable activities
{459)
(131,888
1459)
131,8881
Total expenditure
Goins/losses on investment assets
Net expenditure
{132,347)
19,2
1132.347)
19,2
17.518
17,518
Net movement in funds
Reconciliation of funds
117.518)
{17,5181
Total funds brought forward
Total funds carried forward
113.474
113.474
14
95,956
95,956
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2023 is shown in note 14.
The notes on pages 14 to 25 fom an integral part of these financial statements.
Pagell

Ballymacash Sports Academy Limited
(Registration number: NP000442)
Balance Sheet as af 31 March 2024
2024
2023
Note
F￿ed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
1.017.430
499.158
10
22.870
209,912
12,570
36.531
232.782
49,101
Creditors: Amounts folling due wilhin one year
Net current assets/(Ilobifrties)
Total assets less cuThent liabilities
12
92.941
95.154
139.841
46.053
1.157.271
453.105
Credllors: Amounts falling due alter more than one year 13
Net assets
1,072.044
357.149)
95,956
85.227
Funds of the chafltr.
Unreslricted Income fund5
Unrestricted funds
Other reserves
146,5631
131,790
{35.8341
131.790
Total unrestricted funds
85.227
95.956
Total funds
14
85,227
95.956
The noles on pages 14 to 25 form an integral part of *hese financial stofements.
Page 12

Ballymacash Sports Academy Limited
(Registration number. NP000442)
Balance Sheet as al 31 March 2024
For the financial year ending 31 March 2024 fhe charity was entitled to exemption trom audit
under section 477 of the Companies Act 2L¥)6 relating to small companies.
Directors. responsibilities".
The members have not required the charity to obtain an audit of its accounts for the year
in question in occordonce with section 476: and
The directors acknowledge their responsibilities for complying with the requirements of the
Act with respect to accounting records and the preF)oration of accounts.
The financial statements on pages 10 to 25 were approved by the trustees. and authorised
for issue on 7 November 2024 and signed on their behalf by:
Mr Philip Trimble
Direc
Mr Ben Thompson
Director
The notes on pages 14 to 25 form on integral part of these financial stalements.
Poge 13

Ballymacash Sports Academy Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
I Charity stalus
The charity is limited by guarantee. incorporated in Northem Ireland, and consequently doe5
nol have share capital. Each of the Irustees is liable to contribute on amount not exceeding
£Nil towards Ihe assets of the chority in the event of liquidafion.
The address of its registered office is".
The Bluebell Sports Village
l Oa Rushmore Drive
Lisburn
Co. Antrim
BT28 2HN
These financial statements were authorised for issue by the trustees on 7 November 2024.
2 Accounting pollcies
Summary of signiffcant accounting policies and key accounfing eslirnates
The principal accounting policies applied in the preparofion of these financial statements
are set out below. These poficies have been consislently applied to all the years presented,
unless otherwise stated.
stalemenl of compliance
The financial statements havFb been prepored in accordance wrth Accounting and
Reporting by Charities: Statement of Recommended Practice lapplicable to challties
preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland IFRS 102)) (issued in October 20191 (Charities SORP IFRS 10211,
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and
the Companies Act XQ6.
Basis of preporalion
Ballymacash Sports Academy Limifed meets the definilion of a public benefit entity under
FRS 102. A5sels and liabilities are initiolly recognised at historical cost or transaction value
unless otherwise stated in the relevanl accounting policy notes.
Going concem
The financial statements have been prepared on a going concem basis.
The twstees assess whether the use of going concein 15 appropriate i.e. whether there are
any material uncertainties related to events or conditions that may cost significant doubt on
the ability of the charity to continue as a going concern. The trustees make this assessment in
respect of a period of one year trom the date of approval of the financial statements.
Page 14

Ballymacash Sports Academy Limited
Notes to the Flnanclal Statements for the Year Ended 31 March 2024
Income and endowments
Income predominately represents income received for the use of the charity's facilities.
Don(th"ons and legacies
Donalions are recogntsed when the charity has been notified in writing of both the amount
and settlement date. In the event thot a donation is subject to conditions that require a level
of performance by the charity before the chority is entitled to the funds, the income is
deferred and not recognised until either those conditions ore fully met, or the fulfilment of
those conditions is wholly within the control of the charity and it is probable that these
conditions will be fulfilled in the reporting period.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that
expenditure, it is probable settlement is required and the amount can be measured reliably.
All costs are allocated to the applicable expenditure heading thot aggregate similar costs to
that category. Where costs cannot be directly attributed to particular heacfings they have
been allocated on o basis consistent with the use of resources. wfh central staff costs
allocated on the basis of time spent. and deF*eciation charges allocated on the portion of
the asset's use. Other support costs are allocated based on the spread of staff c05tS.
All resources expended are incKJsive of irrecoveroble VAT.
Raising funds
These are costs incurred in otlracling voluntary income. the management of investments
and those incurred in trading activities that raise funds.
Chariftable aclivifies
Charitable expenditure comprtses fhose costs IncU￿ed by the charity in the delivery of its
octivilies and services for its beneficiaries. 11 includes both costs that can be allocated
directly to 5vch activities and those costs of an indirect nalure necessary to support them.
Support costs
Support costs include centrol functions and hove been ollocated to activity cost categories
on a basts consistent with the use of resources, example. allocating property costs by floor
areas, or per capita, staff cosls by the time spent and other costs by their usage.
Govemance costs
These include the costs attributable to the charity's compliance with constitutional and
stotulory requirements. including accountancy. 5trafegic management and trustees's
meetings and reimbursed expenses.
lffecoveroble VAT
Irrecoverable VAT is charged against the category of res￿rceS expended for which it was
incurred.
Poge 15

Ballymacash Sports Academy Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Taxalion
The chcrity is considered to pass the tests set (Lrf in Paragraph I Schedule 6 of the ￿nance
Acl 2010 and therefore it meets the definition of a charitable company for UK corporation
tax purposes. Accordingly. the charity is potentially exempt from taxation in respect of
income or capital gains received within cafegories covered by Chapter 3 Part I l of the
Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to
the extent that such income or goins are appfied exclusively to charitable purposes.
Tangli )le fixed assets
Individual fixed assets costing £5(K).CK) or more are initially recorded at cost.
Depreciaffon and amortisalion
Depreciation is provided on tangible fixed assets. once they in use. so as to write off the cost
or valuation. less any estimated residual value. over Iheir estimated use￿1 economic life as
follows:
Asset class
Fixtures & fittings
Plant & machinery
Depreclalion method and raFe
IO% straight line
l 0% straight line
Trade debtors
Trade debtors are amounts due from cuslomers for merchandise sold or services performed
in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently
measured at amortised cost using the effective interest method. less provision for impairment.
A provision for the impowment of trade debtors is established when ttiere is objective
evidence that the charify will not be able to collect all amounts due according lo the
original terms of the receivables.
Cash and co5h equlvalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-tem
highly liquid investments thal are readily convertible to o known amount of cash and are
subject to an insignificant risk of change in vdue.
Page 16

Ballymacash Sports Academy Limited
Notes to the Financlal Statements for the Year Ended 31 March 2024
Trade credilors
Trade creditors are obligations lo pay for goods or services that have been ocquired in the
ordinory course of business from suppfiers. Accounts payable are classified as current
liabilities it the chartty does not have on unconditional right. af the end of the reporting
period, to defer Settlement of the creditor for at least twelve month5 after the reporting date.
If lhere is an uncondilional righl to defer setmement for at least bNelve months after the
reporting date, they are presenled as non-CU￿en* liabilitie5.
Trade creditors ore recognised initially al the fronsaction price and subsequently measured
at amorti5ed cost using the effective interest method.
Borrowlngs
Interest-bearing borrowings are inttially recorded af fair value. net of transaction costs.
Interest-bearing borrowings are subsequently carried at amortised cost. with the difference
between the proceeds, net of transaction costs. and the amount due on redemption being
recognised as a charge fo the Statement of ￿nancIal Activifies over the period of the
relevant borrowtng.
Interest expense is recognised on the basis of the effective interest method and is included in
interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditionol right to
defer settlement of the Irobility for at least twelve months after the reporting dote.
Fund slrvclure
Unrestricted income funds are general funds that ore avaliable for use at the trustees
discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of
the trustees.
Other funds represent Ihe conftibutions made by members of the general public towards the
creation of the fufure infrastructure of the chority. The people concemed have been given
the generic title of Shareholders. but fhe5e tunds do not hold any rights normally associated
wth a shareholcting in a traditional sense. This money has been provided on an interest free
bosis and will be repaid once the charity has reoched a sufficienttry sustainable financial
posilion to justify this. However. should the charity fail to meet this criteria. there is no
contraclural right to repay these fiJnds.
financial Instruments
Classificallon
Financial assets and financial liabifities are recognised v4hen the charity becomes a party to
the contractual provisions of the in5tTument.
nancial liabilities and equity inslruments are classified according to the substance of the
contractual a￿angeMentS entered into. An equity instrument is any contract that evidences
a residual interest in the assets of the charity after deducling all of its liabilities.
Page 17

Ballymacash Sports Academy Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Recognition and measurement
All financial assets and liobilities are initially measured at transaction price (including
transaction costs). except for those financial assels classified 05 at fair value through profit or
loss. which are initially measured at fair value {which is normally the transaction price
excluding transaction cosls). unless the arrangement constitutes a financing transaction. If
an a￿angernent constitutes a ftnancing transaction, the financial asset or financial liobility is
measured at the present volue of the future payments discounted at a market rate of
interest for a similar debt instrument.
financial assets and liabilities are only offset in the stotement of financiol position when. and
only when there exists a legally enforceable right to set off the recognised amounls and the
charity intends either to settle on a net basis. or to realise the asset and settle the liability
simultaneou51y.
Financial assets are derecognised when and onty when a) the contractual rights to the cash
flows from the firiuriLiol a55et expire or are settled. b) the charity transfers to another party
substantially all of the risks and rewards of ownership of the financial asset. or cl the charify,
despite having retained some. but not all, Significant risks and rewords of ownership, ha5
transferred confrol of the asset to another party.
nancial linbilities are derecognised only when the obligation Specified in the coiilwuLt 15
dischorged, cancelled or expires.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference
sharps Iwhpre shares are publicly troded or thcir fair valve is reliably meusuiublel are
measured ot fair value through profit or loss. Where fair value connot be measured reliably,
investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For
invesfments in subsidiaries acqured for consideration including the issue of shores qualifying
for merger relief. cost 15 measured by reference to the nominal valve of the shares issued plus
fair value of other consideration. Any premium is ignored.
Derivative financlal inslruments
The charity uses derivative financial instrument5 lo reduce exposure to foreign exchonge risk
ond interest rate movements. The charity does not hold or issue derivative financial
instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered
into and are subsequently remeasured to their fair value at each reporting date. The resulting
gain or loss is recognised in statement of financial activities immediatety unless the derivative
is designated and effective as a hedging instrument. in vthich event the timing of the
recognition in statement of financial activities depends on the nature of Ihe hedge
relationship.
Page 18

Ballymacash Sports Academy Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Fair value measurement
The best evidence of fair value is a quoted ptice for an identical asset in an active market.
When quoted prices are unavailable. fhe ￿lce of o recent transaction for an identical a55et
provides evidence of far value os long as there has not been a significant change in
economic circumstances or a significant lapse of time since the transaction took ploce. If the
market ts not active and recent transactions of an idenlicol asset on their own are not a
good e5timote of fair value. the fair value is estimated by using a valuation lechnique.
3 Income from donalions and legacles
Unreslricted
Ivnds
General
Total
funds
Donations and legacies".
Donations from individuols
3.912
3.912
Total for 2024
3.912
3,912
Total for 2023
2.864
2,864
4 Income from charitable activilies
Unreslricled
funds
General
Total
funds
Hire of facilities
SponS￿h1p5
Govemment grants
Other grants
Fundraising
Total for 2024
107.091
107.091
6.271
43.857
5.739
6,271
43.857
5.739
166.488
166,488
Total for 2023
92.715
92,715
Poge 19

Ballymacash Sports Academy Llmited
Notes to the Financial Statements for the Year Ended 31 March 2024
5 Expendilure on charitable aclivilles
Unrestricted
funds
General
Total
funds
Wages & salaries
staff costs & pensions
Premises costs
Repairs & maintenance
Bank charges
Legal & professional f￿S
Administration cosfs
Loan Interest
Depreciotion
Release of capital grants
Total for 2024
69.275
3.629
31.493
17.453
37
5.239
8.941
6,960
63.839
36,129
69,275
3.629
31.493
17.453
37
5,239
8.941
6.960
63.838
36.129
170.736
170,736
Total for 2023
130,088
130.088
Unreslrlcfed
funds
General
Total
2023
Woge5 & salaries
staff costs & pensions
Premises costs
Repars & maintenance
Marketing
Bank charges
Legol & professionol fees
Administrotion costs
Loan Interest
Depreciation
Release of capitol grants
Bad debts
54.070
1.296
26.196
3.452
549
18
4.472
5,197
5.832
63.495
136.1 29)
1.640
54.070
1.296
26.196
3.452
549
18
4,472
5.197
5.832
63.495
136,129)
1.640
130,088
130.088
In addition to the expenditure anolysed above. there ore also governance costs of £2.] CM)
12023 - £1 .8(K)I which relate directly to charitatje activities. See note 6 for further details.
Page 20

Ballymacash Sports Academy Limited
Notes to the Financlal Statements for the Year Ended 31 March 2024
6 Analysls of govemonce and 5UPPOrt costs
Govemance costs
Unresfricted
funds
Generd
Total
fund5
Allocated support costs
Total for 2024
2.ICX)
2,100
2.IC()
2,100
Total for 2023
7 Trustees remuneralion and expenses
No trustees. nor any persons connecled with them. hove received any remuneration from
the chority during the year.
No trustees have received any reimbursed expenses from the charity during the year.
8 Taxalion
The charity is a registered charity and is therefore exempt from taxotion.
9 Tangible fixed assets
Land and
buildings
FurnKure and
equipment
Plant and
machinery
Total
Cost
At l Apnl 2023
Additions
44.394
563.574
15.745
17.293
619.201
1.244
679.340
582,111
At 31 March 2024
607.968
33.038
620.445 1.261,451
DepTeclaHon
At l April 2023
Charge for the year
At 31 March 2024
4.649
1.795
175,533
62.044
180,182
63,839
6.444
237,577
244.021
Nel book value
At 31 March 2024
607,968
26.594
382.868 1.017,430
At 31 March 2023
44.394
11.096
443,668
499.158
Page21

Ballymacash Sports Academy Limited
Notes to the Flnancial Statements for the Year Ended 31 March 2024
Included within the net book volue of lond and buildings above is £Nil {2023 - £Nil) in respect
of freehold land and buildings and £607,968 (2023 - £44.394) in respect of leaseholds.
l O Debtors
2024
2023
Trade debtors
other debtors
16,370
12.570
22.870
12.570
11 Cash and c(tsh equlvolents
2024
2023
Cash on hand
Cash at bank
209.909
36,531
209.912
36.531
12 cr•dItro￿ amounts fdllng due wFlhin one year
2024
2023
Bank loans
Trade creditors
Other loans
other taxation and social security
Olher creditors
Accruals
41.608
26.170
10.126
1.784
41.6C
31.121
10,126
699
3.453
1.800
92.941
95.154
Page 22

Ballymacash Sports Academy Limited
Notes lo the Financial Statements for the Year Ended 31 March 2024
Bank borrowlngs
Bank of Irelond UK - Bounce Back Loan is denominated in Sterfing with a nominal interest rate
of 2.5%. and the final instalment is due on 31 May 2026. The carrying amount ot year end is
£41,60812023- £41.608).
As this loan finance is a Bounce Bock Loan. no securify has been provided by the charity.
The loan is due to repaid over 60 months from May 2021. However, to date, repayments are
not being requested by the bank.
Other borrowlngs
Ulster Community Investment Trust Limited with a carrying amount of £245.OCO {2023 - £90.534)
is denominated in Sterling with a nominal interes* rafe of 6%12023 - 6%). The final instalment is
due on 31 March 2039.
The loan has been provided on an unsecured basis.
The loan is due to be rcpoid over 15 year5.
2024
2023
Deferred income at l April X)23
Resource5 deferred in the period
Amounts released from previous periods
Deferred income at year end
(276.741)
1596..&5R)
36,129
{292,8701
{20.OW)
36,129
&37,170
276,741
13 credito￿ amounts falling due after one year
2024
2023
Other loans
Deferred income
234.874
&37,170
80,408
276,741
1.072044
357,149
Page 23

Ballymacash Sports Academy Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
14 Funds
Balance aF
31 March
2024
Balance at i
Apiil 2023
Incoming
resources
Resources
expended
Unreslricted lund5
General
{35,834J
170,4
1181,129)
146.5631
131.790
Designated
131.790
Total funds
95.956
181.129
85.227
Balance at
31 Morch
2023
Bdance ot I
April 2022
Incoming
resources
Resources
expended
Unreslricled funds
General
934
95.579
{132.3471
(35.834)
131.790
Designated
112,540
19.2X)
Total funds
113.474
114,829
132,347
95,956
The specific purposes for which the funds are to be applied are as follows:
other (designated) funds represent the conftibutions made by members of the general
public towards the creation of the future infr￿trUctUre of the charity. The people conceffted
have been given the genertc tille of Shareholders. ￿Jt these funds do not hold any righls
normally associated wilh a shareholding in a traditional sense. This money has been provided
on an interest free basi5 and will be ret)aid once the charity has reached a sufficiently
sustainable financial position to juslify this. However. should the charity fail fo meet this
criteiia, there is no contractural obligation to repay these funds.
Page 24

Ballymacash Sports Academy Limited
Notes to the financlal Statements for the Year Ended 31 March 2024
15 Analysis of net assets belween funds
Unresfricted
funds
Generd
Totol fvnds at
31 Morch
2024
other
funds
Tangible fixed assefs
Current assets
Cuffent liabilities
Creditors over l year
Total net assets
1.017.430
I￿,992
(92.941)
1 ,072,044
1,017,430
232.782
192,941)
7.072044
131,790
46.563
131.790
85,227
Unrestrfcted
funds
General
Totol fvnds a
31 Maich
2023
other
funds
Tangible r￿ed o55ets
Current assets
Current liabilities
Creditors over l year
Total net assets
416.469
82,&89
49.101
499,158
49,101
195,1541
357,149
195.154)
357.149
35.834
131.790
95.956
Page 25

Ballymacash Sports Academy Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
Total
2024
Total
2023
Income and Endowments from:
Donations and legacies {anolysed below)
Charitable activities lanalysed below)
Totol income
3,912
166.488
2,864
92.715
170,4(X)
95.579
Expenditure on:
Raising funds lanalysed below)
Charitable activities (anclysed below)
Total expenditure
{8.293)
172.836
1459)
131.888
1181,129
132.347
Net expencfiture
10.729
(36.768
Net movement in funds
(10.729)
(36.768)
Reconcillalion of fund5
Total funds brought forward
Tofal funds carried forward
35.834
934
46,563
35,834
This page does not form port of the statutory financial statemenfs.
Page 26

Ballymacash Sports Academy Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
Total
2024
Total
2023
Donalions and legacies
Appeals and donations
3.912
2.864
3,912
2,864
Chantable aclivities
UK Government grants
Non Govemment Grants
Sponsorship
Rental income
Fundraising
6.271
43R57
6.eQ5
i.x)o
84.410
107.091
5.739
166.488
92,715
Rafslng funds
other fundraising costs
Crowdfunding Fees
18.2931
459
8,293
459
Choritable aclivilies
Wages and salaries
staff pensions IDefined contribution)
staff training
Volunteer expenses
Rent
Water rates
Light. heat and power
Insurance
Repairs and maintenance
Telephone and fax
IT costs
Printing, postage and stationery
Trade subscriptions
Sundry expenses
Cleaning
Travel and subsistence
Marketing
Legal and professional fees
Bad debts written off
Bank charges
169,275)
11.131)
{1.767)
1731)
12.4CK))
13.557)
{14,838)
(10.6981
{17.453)
(54.0701
11.266)
{30)
12,4001
13.0201
112.840)
17.9361
13.198)
1626)
11.731)
11.1721
(195)
11.396)
1253)
{77)
1550)
(4.4721
11.6401
1181
(1.567)
(1.594)
1 1.838)
12,4741
(687)
(273}
{5.239)
(371
This page does not fom part of the statutory financial statements.
Poge 27

Ballymacash Sports Academy Limited
Detailed Statement of Flnancial Activilies for the Year Ended 31 March 2024
Total
2024
Total
2023
Bank interest payable
Loan interest
Deprecialion of plant ond mochinery
Depreciation of fixtures and fittings
Release of capital grants
Accountancy fees
1971
15.7351
161.9201
{1.575)
36.129
1.800
16,960)
162.0431
{1,795)
36,129
21CK)
172,836
131,888
This page d￿$ not fom part of the statutory financial statements.
Page 28