ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MARCH 2023
Year Ended 31 Mar 23
Unrestricted Restricted
funds
funds Totsl funds
Income and endowments
Donations and legacies
Charitable activities
Other income
27,970
45.179
27,970
45.179
33,184
106.333
33.184
Total income
73.149
33,184
Expendlturn
Expenditure on ralslng funds:
Costs of raising donalions and legacies
Expenditure on charitable activities
Total expendltur•
9,886
1.221
9.886
1,221
11.107
11.107
Net Income and not movement In ￿ndS
62,042
33,184
95,226
Reconciliatlon of funds
Oponing Funds 1 April 2022
Total funds carrfad forward
18
3.452
3,452
65,494
33,184
98,678
The statement of financlal activities Includes au galns and losses recognised in the year.
All income and expendtiure derive from conlinuing activities.
The note8 on page8 10 to 16 forni part of these flnanclal 8tatemants.

ST RONAN'S COLLEGE FOUNDATION
COMPANY UMITED BY GUARANTEE
STATEMENT OF FINANCIAL posmoN
31 MARCH 2023
31 Mar 23
CURRENT ASSErs
Debtors
Cash at bank and in hand
13
17.859
84,373
102.232
CREDITORS: amounts falllng due wlthin ono year
NEf CURRENT A88ETS
14
3,554
98.678
98,678
98,678
TOTALASSETS LESS CURRENT UABILMES
NET ASSETS
FUNDS OF THE CHARITY
Restricted funds
Unrestricted funds
33.184
65.494
Total charity fvnds
15
98,678
For the year ending 31 March 2023 the tharity wa5 enti¥ed to exemption from audit under section 477
of the Companiès Act 20[￿ relating lo small companies.
Directors, responsibiffties:
The members have not required the company to obtain an audil ￿ its financial statements for the
period in question in accordance with section 476;
The directors acknowledge their responsibilities for complying wtth the requirements of the Act %Mth
respect to accounkng records arKI the preparalion of statements.
These financial statements have been prepared in accordance vath the provisi1￿3 applicable to
companies subject to the small companies, regme.
The statement of financial position
continues on the following page.
note8 on page8 10 to 16 fomi part of the8e finanelal slateme

ST RONAN'S COLLEGE FOUNDATION
COMPANY UMITED BY GUARANTEE
STATEMEpif OF FINANCIAL POSMON
31 MARCH 2023
These financial stalements were approved by the board of trustees arKI authorised for issue on 3 Aug
23. and are s19r￿d on behalf of Ihe board ty:
Mr C Loughran
Director
Mr P Mr￿skeY
Ms M Mclntyre
Director
Th• rtote8 on page• 10 to 15 form of Ilwfje fln•￿Ill statwnonts.

ST RONAN'S COLLEGE FOUNDATION
COMPANY UMITED BY GUARANTEE
STATEMEPlf OF CASH FLOWS
YEAR ENDED 31 MARCH 2023
31 laar 23
CASH FLOWS FROM OPERATIIIG ACTivmES
Net income
95,228
Adjustments tr.
Interest payable and similar charge8
Accrued expenses
21
1,200
Changes In..
Trade and other debtors
Trade and other crediiorn
(14,157)
2.104
Cash genefated from operatlon8
84,394
Int•r•8t pald
Nel ¢ash from operatlng athltss
(21)
84,373
NEf INCREASE IM CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD
84,373
CA8H AND CASH EQUIVALEPITS AT END OF PERIOD
84,373
Tho nots8 •)n pag•s 10 to 16 lomi part of tha8• flnanelal 8tstsm•nts.

ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
GENERAL INFORMATION
The charity is a public benefit entity and a private company limited by guarantee. registered in
Northem Ireland and a registered charity in Northern Ireland. The address of the registered office
is St Ronan's College, Francis Street. Lurgan. Co. Amiagh, BT66 6DL, United Kingdom.
STATEMEKf OF COMPLIANCE
These financial ststements have been prepared 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 chaiities preparing their accounts in accordance with the
Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (Charities
SORP {FRS 102)) and the Companies Act 2006.
ACCOUNTING POLICIES
Basls of preparntlon
The financial statements have been prepared on the historical cost basis. as modified by the
revaluation of certain financial assets and liabilities and investrnent properties ff￿asured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the fijnctional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to conts'nue.
Judgements and key sour￿5 of estimation uncertalnty
The preparation of the financial statements requires management to make judgements, estimates
and assumptions that affect the amounts reported. These estimates 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 circumstsnces.
Fund accounting
Unrestricted funds are available for use at the discrelion of the trustees to further any of the
charity's purposes.
Designated fijnds are unrestrthd funds earn￿rked by the trustees for particular future project or
commitmenL
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through
the ternis of an appeal and fall into one of iwo sub<lasses: restricted income funds or endowment
funds.
10

ST RONAN'S COLLEGE FOUNDATION
COMPANY UMITED BY GUARAp¥fEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
ACCOUNTING POUCIES (conth
All incoming re%)urces are included in the statement of financial acaivitses when enlitlement has
passed to the charsty,. it ts probable that the economic beneffts associated Imlh the transaction will
flow lo the charity and the amounl can be reliably meawred. The following specific policies are
applied to particular categories of income:
Income from donalions or gfants is recognlsed vthen there is evidence of entillement to Ihe
gift, receipt is probable and ts amount can be measured reliabty.
legacy income is recognised when re¢xp* is prob* and entillemenl is established.
incwne from donated goods is n*asured at the fair value of the goods unless this is
impractical to measure reliabty, in case the value * derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the accounts
vkn received rf the vdue can be reliabty measured. No amounts are induded for the
income from contracts ts the Supply of seNices is recognised with the delNery of the
eontracted service. Thts is ckssified as unrestri*d funds unkss there is a contractual
requirement for it lo be spent on a part￿￿¥ purpose and r￿rned rf unspenL in Ithich case
it may be regarded as restricted.
Expenditure is recognised an a¢<￿1$ basis as a liabifty is incurred. Expenditure Indudes any
VAT which cannot be fulty recwed. and As classffied under head￿r￿ of the statement of finarKial
activities to which it rektes:
expendilure on raising fijnds indudes the costs of all fundraising aGtivitw, events, non-
charitable trading actsvrties. and the sale of donated goods.
expenditure on charitable activibts indudes all costs irurred by a charity in urKlertaking
actbvities that further its charilable aims for ts benefft of ts beneficiaries, induding those
support costs and costs relating to the gOV￿anCe of the charity apportioned to charitable
activilies.
other exPen￿￿Are includes all expendiiure that is neilherrekled to raiswvJ ￿ndS forthe tharty
nor part of its experKltbJre on chwitsble acbvibes.
All costs are allocated to exp&￿i￿re Categori￿ refiecting ￿ use of the resource. Direct costs
attributable to a single acbvity are allocated direcity to that activity. Shared costs are apportioned
beiween the activities thffy contrilxrte to on a reasonable, justifAble and co￿lstent basls.
Flnanc541 in8lrum•nt8
A financial asset or a financial liablty is recognised onty when ts dprity becomes a party to
contractual provisions of the instrument
11

ST RONAN'S COLLEGE FOUNDATION
COMPANY UMrrED BY GUARAKfEE
NOTES TO THE FINANCIAL STATEMEKfs (con(•w8
YEAR ENDED 31 IA4RCH 2023
ACCOUNTING POUCIES
Flnanclal Instnunents {e0ftth￿•4
Basic financial instruments are initialty recwised at ts a￿K)Unt receivable or payable including
any felated transacti￿ costs.
Current assets and currenl liabilitses are subsequenty measured at the cash or other consideration
Debl instruments are subsequ￿ty measured at aniortised cosL
whe￿ investments in shares are pubfth b3ded or their fair value can other￿e be measured
liably. inveslrnent is subsequenty measured at frdir value with d)anges in fair value
recognised in income and expendibjre. AJI th such investMts are subsequendy measured at
cost less impairrnent.
Other financial instfuments, including derivatsves, we initialty recogni8ed at fair value, unle&s
payment for an asset is deferred tworKI norn￿1 business tern)s or financed at a rate of interest
that is not a market rate. in vknich case the asset is measured at the present value of the future
payments discounted at a market rate of tnterest for a similar debt irrstrument.
Other firAncial instrum&ts are subsequenty measured atfair value. ￿￿th any changes recognised
in the ststement of fjnanckil actsvit*s. with the exceptson of hedging instruments in a designated
hedgin9 relationship.
Financial assets that are measured at cost or amortised a>st are revie*Ed for obiecbve evthnce
of impaim)ent at the end of each reportirwj date. If there is o*bve evidence of impaimien( an
impairment loss is recognised under the apwopriate headlng in the slateffrtnt of financial activitses
in which the initial gain was recognised.
For all equty instruments regardless of signrficarKe, and otherfinancial assets that are individually
significant these are assessed individually for impaimient Other financial assets are either
assessed individualty ar grouped on the basis of similar credit iisk characteristics.
Any reversals of impaimHrt are recognised immedialety, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds thal the carrying amount would
UMrrED BY GUARAKfEE
st Ronan* College Foundalion is a conw limited by guarantee and accordingty does not have
a share capital.
12

ST RONAN'S COLLEGE FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (e•nVnu
YEAR ENDED 31 MARCH 2023
DONATIONS AND LEGACIES
Unrestricted Total Fund•
Funds
2023
DONATIONS
Donations
SRC Staff Donatlons
26,000
1,970
27,970
26.000
1.970
27,970
CHARITABLE ACTIVITIES
Unrestrlcted Total Fund8
Funds
2023
Oihw income from charitable actlvlties- Breakfast
Other income from charitable activities- Marathon
other income from Charitable activities- Cow Clap
Other income from charitsble activities- Alumni Reunion
Other income from charitable activitses- Table quiz
6,726
24.355
12.480
318
1,300
45,179
6,726
24,355
12.480
318
1.300
45,179
OTHER INCOME
Restricted Totsl Fund8
Funds
2023
Other incoff* - Smurfft Kappa donations
33.184
33.184
COSTS OF RAISING DONATIONS AND LEGACIES
Unrestricted Total Funds
Funds
2023
Costs of rdising donations and legacie8- Purchases
9.886
9,886
EXPENDITURE ON CHARITABLE ACTMTIES BY ACTIVITY TYPE
Total funds
2023
Support costs
Govemance costs
1,221
1,221
13

ST RONAN'S COLLEGE FOUNDATION
COMPANY UMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTSiwrf
YEAR ENDED 31 MARCH 2023
10. INDEPENDENT EXAMINATION FEES
Year Endod
31 Mar 23
Fees payable to the independent examiner for:
Independent examination of the finanrAal slatemert8
1,200
11. STAFF COSTS
There m no employees during the y•ar.
12. TRUSTEE REMUNERATION AND EXPEN8E8
No remunerallon or other bfftffts from employment wdh the tharlty or a related entity were
received by the tru8lees.
13. DEBTOR8
31 Mar 23
Trade debtor8
17,859
14. CREDITOR8: amounts falllng *thln on• y••r
31 Mar 23
Accruals and deferred hKome
Other ¢redltor8
1,200
2,354
3,554
15. ANALYSIS OF CHARITABLE FUNDS
Unmtrlcted fund•
At
Irthme Expendliure 31 Mar 23
1 Aw 2022
General funds
3.452
73.149
(11,107)
65,494
14

ST RONAN'S COLLEGE FOUNDATION
COMPANY UMrrED BY GUARAKfEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
15. ANALYSIS OF CHARtrABLE FUNDS
At
1 2022 I￿oMe ExperKliture 31 Mar 23
Restrfcted Fund 1- Smurfft Kappa
donations
33,184
33.184
16. ANALYSIS OF NEf ASSEfS BEfWEEM FUNDS
unrestr￿ Restricted Totsl Fundg
Funds
Funds
2023
Current assets
Creditors less than 1 year
69.048
{3,554)
65,494
33,184
102,232
(3,554)
98,678
33,184
17. ANALYSIS OF CHANGES IN NEf DEBT
At
1 Apr2022 Cash flows 31 Mar 23
Cash ai bank and in haNI
84.373
84,373
18. OPENING FUNDS ON 1 AprH 2022
St Ronan's College FourKlalion regislered Imth
the Charity Cornmission on 17 Febnjary 2022. At 1
April 2022 St Ronan's College hdd unrestricted funds
in trust for the charity of £3.452. comprising donations
of £3.702 less legal registrati(m costs of £250.
15