ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MARCH 2024
Year to
31 Mar 23
Y••rto 31 Mar 24
Unrestricted
Reslricled
funds
funds Total funds Total funds
Incomo and endowmonts
Donations and legacies
Charitable activities
Other income
8,255
12,228
8,255
12,228
27,970
45,179
33,184
106,333
Total Income
20,483
20.483
Expenditure
Expenditure on raising funds..
Costs of raising donations and
legacies
Expenditure on charitable activities
Total expgndituro
9,886
1.221
11,107
2,847
2,847
2,847
2,847
Not In¢ome and net movement in funds
17,636
17,636
95.226
Reconclliatlon of funds
Total funds brought forward
Total funds carrled forward
65,494
83,130
33.184
98,678
116,314
3,452
98,678
33.184
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditu￿ derive from conbnuing activities.
Th¢ nots8 on pages 9 to 15 form part of thue finan¢lal 8tatem•nts.

ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
31 MARCH 2024
2024
2023
CURRENT ASSETS
Debtors
Cash at bank and in hand
13
110
119,804
119,914
17,859
84,373
102,232
CREDITORS: amount8 falling due withln one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
14
3,600
116,314
116,314
116,314
3,554
98,678
98.678
98,678
NET ASSETS
FUNDS OF THE CHARITY
Restricted funds
Unrestricted funds
33,184
83,130
116,314
33,184
65.494
Total chartty funds
15
98,678
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477
of the Companies Act 2006 relating to small companies.
Directors, responsibilities..
The members have not required the company to obtain an audit of its financial statements for the
year in question in accordance with section 476.,
The directors acknowledge their responsibilities for complying with the requirements of the Act
with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions appI￿able to
companies subject to the small companies. regime.
The statement of financial position
continues on the following page.
The notes on pages 9 to 15 form part of the$• flnancial statements.

ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION (¢ontlnued)
31 MARCH 2024
These financial statements were approved by the board of trustees and authorised for issue on 210t
January 2025. and are signed on behalf of the board by..
Colin Loughran
Patrick McAli$key
Mr C Loughran
Dire¢lor
Mr P McAliskey
Director
Marianne Mclntyre
Ms M Mclntyre
Director
The notes on page8 9 to 15 forni part of tho8e finan¢lal statemènts.

ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
STATEMENT OF CASH FLOWS
YEAR ENDED 31 MARCH 2024
2024
2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net incorne
17,636
95,226
Adjustments for
Interest payable and similar charges
Accrued expenses
447
2.400
21
1,200
Changes in..
Trade and other debtors
Trade and other creditors
17,749
12,3541
35,878
{14,157)
2,104
84,394
Cash generated from operations
Interest paid
Net cash from operating activities
1447}
35,431
121)
84.373
NET INCREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS AT END OF YEAR
35,431
84,373
84.373
119,804
84.373
Th• notes on pages 9 to IS fonn part ofthe•• flnanclal ststements.

ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
GENERAL INFORMATION
The charity is a public benefit entity and a private company limited by guarantee, registe￿d in
Northern Ireland and a registered charity in Northern Ireland. The address of the registe￿d office
Is St Ronan's College, Francis Street, Lurgan, Co.Armagh, BT66 6DL, United Kingdom.
STATEMENT OF COMPLIANCE
These financial statements have been prepa￿d in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable to charitie5 preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 {Charities
SORP IFRS 10211 and the Companies Act 2006.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by Ihe
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in steding, which Is the functional CLtrrency of the entily.
Going concern
There are no malertal uncertainties about the ch2rrfty's ability to continue.
Judgèments and key sources of e8timation uncertalnty
The preparation of the financial statements requires management lo make judgements,
estimates and assumptions that affect the amounts reported. These eslimales and judgements
are continually reviewed and are based on experience and other factors, including expectations
of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to fvrther any of the
charity's purposes.
Designated funds are unrestTiCted funds earmarked by the trustees for particulaf future project or
commitment.
Restricted funds are subjected to restriGts'ons on their expenditu￿ declared by the donor or
through the terms of an appeal, and fall into one of sub-classes.. reslTlCted income funds or
endowment fursds.

ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS Iconllnuodj
YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES (conllnued)
Incoming resources
All incoming resources are included in the slalement of financial activities when entitlement has
passed to the charity", it is probable that the economic benelits associated with the transaction
will flow to the charity and the amount can be reliably measured. The following specific policies
are applied to particular ¢alegories of in¢ome'.
income from donations or grants is recognised when there is evidence of entitlement to the
grft, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated good5 is measured at the fair value of the goods unless this is
impractical lo measure reliably, in which case the value is derived from the cost to the donor
or the esb'mated resale value. Donated facilities and services are recognised in the
accounts when received if the value can be reliably measured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and retumed if unspent, in which case
it may be regarded as restricted.
Resourcgs exponded
Expenditure is reeognised on an a¢cruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered. and is classified under headings of the statement of
financial activities to which il relates..
expenditure on raising funds includes the costs of all fundraising aotivili85, events,
non-charilable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflectsng the use of the resource. Direct costs
attributable lo a single activity are allocated directly to that activity. Shared costs are apportioned
e￿een the activities they contribute lo on a reasonable. justifiable and consistent basis.
Finan¢lal Instruments
A financial asset or a financial liability is recognised only when the charity becornes a party to the
contractual provisions of the instrument.

ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (¢onllnuod)
YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES (contlnued)
Financlal Instruments {¢onllnued)
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction Costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otheNise be measured
reliably, the investment is subsequently measured al fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.
other financial instruments, including derivatives. are initially wognised at fair value, unless
payment for an asset is deferred beyond normal business terms or finan¢ed al a rdte of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes
recognised in the stslement of financial activities, with the exception of hedging instruments in a
designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impaimienl at the end of each reporting date. If there is objective evidence of impaimient, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was re¢ognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significant. these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis of similar c￿di1 risk characlerisbcs.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of Ihe financial asset that exceeds what the carrying amount would
have been had the impairment not previously been reGognised.
LI￿￿ED BY GUARANTEE
st Ronan'5 College Foundation is a company limited by guarantee and accordingly does not
have a share capital.

ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (contlnu¢dJ
YEAR ENDED 31 MARCH 2024
DONATIONS AND LEGACIES
Unreslricled Total Fund8 Unrestricted Total Funds
Funds
2024
Funds
2023
DONATIONS
Donations
SRC Staff Donations
6.415
1,840
8,255
6,415
1,840
8,255
26,000
1,970
27,970
26,000
1,970
27,970
CHARITABLE ACTIVITIES
Unresth'cted Total Fund8 Unreslri¢ted Total Fund$
Funds
2024
Funds
2023
Other income from charitable activities
Breakfast
Other income from charitable activities
- Marathon
Other income from charitable activities
- Cow Clap
Other income from charitable activities
Alumni Reunion
Other income from charitable aclNltie$
Table quiz
14
14
6,726
6.726
12,214
12,214
24,355
24,355
12.480
12,480
318
318
1,300
1,300
12.228
12,228
45,179
45,179
OTHER INCOME
Restricted Total Funds
Funds
2024
Restrcted Total Funds
Funds
2023
Olher incorne - Smurfit Kappa
donations
33,184
33,184
COSTS OF RAISING DONATIONS AND LEGACIES
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Costs of raising donations and legacies
Purchases
9,886
9,886

ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS l¢ontlnued)
YEAR ENDED 31 MARCH 2024
EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
Total funds
2024
Total fund
2023
Support costs
Governance costs
2,847
2,847
1.221
10. INDEPENDENT EXAMINATION FEES
Period from
Year to 4 Nov 21 to
31 Mar 24
31 Mar 23
Fees payable lo the independent examiner for..
Independent examination of the financial slalernents
2,400
1,200
11. STAFF COSTS
There were no employees during the year.
12. TRUSTEE REMUNERATION AND EXPENSES
No remuneration or other benefits from employment with the charity or a related entity were
received by the trustees.
13. DEBTORS
2024
2023
Trade debtors
110
17,859
14. CREDITORS: amounts falllng due withln one year
2024
2023
Accruals and deferred income
other creditors
3.600
1,200
2,354
3,554
3,600

ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (conllnu¢d)
YEAR ENDED 31 MARCH 2024
15. ANALYSIS OF CHARITABLE FUNDS
Unr68trictsd fund$
At
1 April 2023
At
Income Ex￿ndItUre 31 Mar 2024
General funds
65,494
20,483
12.8471
83,130
A11
April 2022
Income Expenditure 31 Mar 2023
General funds
3,452
73,149
(11,107}
65,494
Ro#tricted funds
At
1 April 2023
At
Income Expenditure 31 Mar 2024
Restricted Fund 1- Smurfit Kappa
donations
33,184
33,184
A11
April 2022
At
Income Expenditure 31 Mar 2023
RestTlCted Fund 1- Smurfit Kappa
donations
33,184
33,184
16. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Funds
Restricted Totsl Fund8
Funds
2024
Current assets
Creditors less than 1 year
Net assets
86,730
{3,6001
83,130
33,184
119,914
13,6001
116,314
33,184
UnreslTlCted
Funds
Restricted Total Funds
Funds
2023
Current assets
Creditors less than 1 year
Net assets
69,048
13,554}
65,494
33.184
102,232
{3,554)
98,678
33.184

ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS fcontinued)
YEAR ENDED 31 MARCH 2024
17. ANALYSIS OF CHANGES IN NET DEBT
Al
At 1 Apr 2023 Cash flows 31 Mar 2024
119,804
Cash at bank and in hand
84,373
35.431