Apostolate of the Faith STATEMENT OF FINANCIAL ACTIVITIES for the financial year 8nded 1 February 2025 Unreslricted Funds 2025 Total Unrestricted Funds Funds 2025 2024 Total Funds 2024 Notes Incomo Donations and legacies Oth8r Income 517 406 517 406 665 165 665 165 Total Incomo 923 923 830 830 Expendlturo Charitable activlties 363 363 920 920 Net In¢om•llaxpandltur•) 560 560 (goi 1901 Transfers between fund8 Nat mov•m&nt In funds for tho flnanclal year 560 560 (901 (901 Roconclllatlon of funds: Total funds beglnning of the year 170,688 170,688 170,778 170.778 Total fund8 at the ond of tha year 171.248 171.248 170,688 170.688 The Slalement of FSnanclal Acllvllles Includes all g8lns and loss&s recognlsed In the flnanclal year. All Income and expendlture relate to conllnulng actlvllle8. The notes on pages 10 to 12 form part of the finanal statements
Ap05tolate of the Faith BALANCE SHEET as at 1 February 2025 2025 2024 Not83 Current Assets Cash at bank and in hand 171,551 170,991 Credltors,. Amounts falllng duo withln oné year 1303) 13031 Net Current Assets 171,248 170,688 Total Assetsloss Current Llabllltles 171,248 170,688 Funds General fund lunre$tri¢tedl 171,248 170,688 Total funds 171,248 170,688 Tho flnancSal statements have been prepared Sn accordance wllh the provlslons appllcable lo companlgs sublecl lo tha small companles, reglma and in accordance wlth FRS 102 "The Flnancial Reporting Sland8rd applicablè In the UK and Republlc of Ireland applylng Section 1A of that Standard. Approvad by th8 Board of Tru•to08 and authorl8od for Issue on 11 Novombor 2025 and 8lgn8d on It8 behalf by Mr Tom Jennlng Chalrp8rson Malgl Trustee MGAtgor The notss pages 10 to 12 form part of the finanal 5tatefftents
Apostolate of the Faith NOTES TO THE FINANCIAL STATEMENTS for Ihe finan¢lal year ended 1 February 2025 GENERAL INFORMATION Apostolate of the Faith is a charity incorporated in Northern Ireland. The r8gister8d office of th8 charity Is which is also the principal plac8 of busin888 of tha charity. The financial statements have been presented in Pound {£) which is also the functional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are Considered material in relation to the charlty's financi81 s18tementg, Ba818 of preparatlon The financial slalements have been prepared on the golng concern basis under the historical ¢osl ¢onv&nlS0n, modified lo include cartain ilams at fair value. The financial slalements have been prepared Sn accordance with th8 Statement of Recommanded Practica ISORP} "Accounting and Reporting by Charities preparing their accounts In 8c¢ordance with the Flnanclal Reporling Standard applicable in Ihg UK and Republic of Ireland FRS 102" applying Section 1 A of that standard. Ag permitted by the Companias Act 2006, the charity has varied the standard forma18 in that act lor the Statement of Flnanc181 Aclivilies and tha Balanco Sheot. Departures from th@ standard formats are to Gomply with the requirenienls of the Charilles SORP and are in compliance with sectlon 4.7, 10.6 and 15.2 of that SORP. Statamont of compll•n¢e The financlal slatoments of tha oharSly for the financial year onded 1 February 2025 hava been prepared on the going concern basls and In aGGordanGe wllh the Slatemgnl of R8commended Pracllce ISORPI "Accounting and Reporting by Charities preparing their accounts in accord8nce with the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland FRS 102. applying Sectlon 1A of that Standard. Fund accountlng Tha following are the categories of funds maintained.. R•8trlct•d funds Restricted funds represent Income recelved which can only be used for partlcular purposes. as specified by tho donors, Such purposas are wlthln tho overall objecllves of the Charity. Unrestrlct8d funds Unrestricted funds ¢onsist of General and Designated fund5. General funds represent amounts whlch are expendable at the dlscretion of the board, in furtherance of the objectives of th8 charity. Designated funds comprise unrestricted funds that th8 board has, at ils discretion, sel aside for partlcular purposes. Th8se dèsbgnalions h8v& an adminlstrallvè purpose only, and do not lègally r8slrlcl th8 board's dlscr8tlon to apply the fund. Income Ineome Is rècognlsed by Incluslon In the Statement of Flnanclal Acllvltles only when the eharlly Is legally 8ntitled to the income, performance condrtions attached to th& itemlsl of income have been met, the amounts involved can b8 m6asur8d with sufficlenl rellabillty and It Is probable that the income will be receiv8d by the charlty. Incorne from charltable actlvltlès Income from charitable activities Includ8 Income earned from the supply of services under contractual arrang9menls and from performance related grants which have conditions that speclfy Ihe provision of particular seNlces lo be provided by the charity. Income from goveTnmenl and other co-funders is recognised when the charity is legally enlilled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advanco, its recognition is deferred and included In cr8ditors. Where 8nlitlement occurs before income is received, il is accrued in debtors. Grants from governments and olher co-funders typically include one of the following types of CDnditions'. PerformanGe based Gonditions.. whereby the Gharily is Gontractually entitled to fL(nding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meets'ng the core objectives of a grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by the donor. as income. 10
conllnue Apostolate of the Faith NOTES TO THE FINANCIAL STATEMENTS for the financial year 8nded 1 February 2025 -T5me based condltlons.. whereby the charily Is contractually enlltled to fundlng on the conditlon that It Is utlllsed in a particular period. In these cases the charily recognises the income to the extent it is utilised within the period specified in the agreement. In tho absence of such conditions, assumlng that receipt is probable and the amount can be reliably measured, granl Income Is recognlsed once the charfty Is notlfied of entillement. Grants rgceived towards capital expenditure are credlted to the Statement of Financial Activities when re¢eived or receivable, whichever Is eartier. Exp•ndlturo Expenditure is analysèd behvaèn costs of ch8ri18bl8 attivlli8s and raising funds. The Costs of each 8ctivlty are separately accumulat8d and dlsclosed, and analysed according to their major components. ExpenditUTe Is re¢ognlsod whon a legal or constructive obligation exists as a result of a post event, a transfer of economlc benefits is requlred In settlement and the amount of the obligallon can be rellably measured. Support costs are those functions that asslst thè work of the charlly bul cannot bè attributèd to one aetivity. Such costs ar8 allocat8d to actlvllles In proportlon lo staff tlme spent OT Other sultable measure for each aGtivlty, Cash at bank and In hand Cash al bank and In hand comprls88 cash on dgposlt at banks requlrlng less than three months nollce of wllhdrawal. Taxatlon and dèfèrred taxatlon No ¢urrenl or deferred taxation arlses as the charity h85 been granted charllable 8xemplion. Irfecover8ble valued added lax is expensed as Incurred. D8ferr8d lax Is racognlsèd in réspèet of all Ilming dlff8r8rbCO5 thAI hav0 orlglnated but not r8v8rs8d at the balanc8 sh88t dale whor8 Iran&actions OT evgnls hav8 occurred al that dal8 that will result In an obligation lo pay more lax in the future, or a right to pay less tax in the future. Tlming dlfferences are temporary dlfferences tseeen the charlty's taxable proflts and Ils results as stated In the financlal slalements. D8f8rred tax is measured on an undiscounled basis at th8 lax rates that ar8 anlicipaled lo apply in the periods In whlch the Ilming dlff&rènces ar6 expected to revèrse, based on tax ralos and laws that have been enacted or sub8tanllvely enacted by the balance sheet date. INCOME DONATIONS AND LEGACIES Unr8strlcted Restrl¢ted Funds Fund• 2025 2024 Donation8 and legacles 517 517 665 OTHER INCOME Unrostrlctod R•strl¢t¢d Funds Funds 2025 2024 Other incom& 406 406 165 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Other Costs Support Costs 2025 2024 Expendituré on charitable activites 363 363 920 INVESTMENT AND OTHER INCOME 2025 2024 Bank inlerest 406 165 11
continued Apostolate of the Faith NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 1 February 2025 CREDITORS Amounts lalllng due withln one year 2025 2024 Accruals and deferrad in¢omo 303 303 RESERVES 2025 2024 Al the beglnnlng of Ihe year Surplusl{Dèflcill for the financlal year 170,688 560 170,778 1901 At the end of the year 171,248 170,888 FUNDS RECONCILIATION OF MOVEMENT IN FUNDS Unrestrlctod Fund# Total Fund• Al 2 F8bruary 2023 Mov8menl durlng the financlal year 170,778 1901 170,778 1901 Al 1 February 2024 Mov8ment durlng the flnancial year 170,688 560 170,688 560 Al 1 Fèbruary 2025 171.248 171,248 ANALYSIS OF MOVEMENTS ON FUNDS Balancg 2 Fébruary 2024 Incomo Expendltur• Transfér• bètween fund• Balanc• 1 February 2025 Unr0Strlctod funds Unreslrlcled General 170,688 923 363 171,248 Total funds 170.688 923 363 171,248 ANALYSIS OF NET ASSETS BY FUND Current as8Ots Current Ilabllltlos Total Unrestrlctèd general funds 171.551 1303) 171,248 171,551 1303) 171,248 POST4ALANCE SHEET EVENTS There hav8 been no significant ev8nts aff8cling tho Charity since the financial year-end. 12