THE BALLYCLARE HIGH SCHOOL FOUNDATION LTD (A company limited by guarantee) Annual Report and Financial Statements for the year ended 30 September 2024 Company Limited by Guarantee Northern Ireland {N1685284) Registered a7arity in Northern Ireland (NIC108744)
THE BALLYCLARE HIGH SCHOOL FOUNDATION LTD TRUSTEES. ANNUAL REPORT The trustees, who are directors forthe purposes of company saw, present the annual report together with the financial statements of the charitable company for the year ended 30 September 2024. REFERENCE AND ADMINISTRATIVE DETAILS The Ballyclare High School Foundation Ltd 31 Rashee Road Ballyclare BT39 9HJ Company Registered by Guarantee Northern Ireland {N1685284} Registered Charity in Northern Ireland (NIC108744) DI RECTORS The Directors who served during the year or who were dirertors at the date of this report were: Mr Aran Blackbourne Miss Margaret Gray Mr Wilbert Hollinger Mr Steven Lowry Mrs Emma Matebalavu Mr Michael McKinstry Dr Michelle Rainey INDEPENDENT EXAMINER Simon Hopper FCA Hopper & Co 6 Doagh Road Ba Ilyclare BT39 9BG BANKERS Danske Bank Limited 18 The Square Ba Ilyclare BT39 9BB
THE BALLYCLARE HIGH SCHOOL FOUNDATION LTD TRUSTEES, ANNUAL REPORT (cont'd) DESCRIPTION AND PURPOSE The purpose of The Ballyclare High School Foundation Ltd. ( BHSF } is to advance the education of the pupils attending Ballyclare High School (BHS) through enhancing their opportunities, educational outcomes and Ilfe chances in line with the school's wider vision of 'developing lifelong learners in a caring creative communiw. The BHSF aims to create an environment in which relationships with alumni and friends of BHS can be developed and cultivated on a mutually beneficial basis and in so doing engender opportunities to support and advance the education of the pupils attending BHS. BHS {'the school,) is a co-educational non-denominational grammar School located in Ballyclare, Northern Ireland. It is a controlled school operating under the management of a suitably appointed Board of Governors which includes representatives from Department for Education (Nll, the Education Authority, parents and teachers. There are cl,250 pupils attending the school and The Education Authority for Northern Ireland is the employing authority. STRUCTURE AND MANAGEMENT "BHSF" has been established as a company limlted by guarantee (N1685284} and as a registered charity with Charity Commission for Northern Ireland (NIC108774). Whilst BHSF operates as a separate legal entity from the school, its sole object Is the advancement of the education of the pupils attending BHS. BHSF has a strnno vnvernxnr* !r2mework in place ovpr it¢ n&irpo.%A. And operation including thp appointment of a board of directors, all of whom are passionate about and have long-seated connections with BHS. Each of the directors15 highly committed to the aims of the Foundation and bring a wealth of experience and professionalism to the role. otTn VISION ot Ji The Board of Governors of the school has recently developed a strategy for the development of connections with alumni and friends of the school with the vision of maintaining mutually beneficial lifelong relationships with past pupils, parents and friends. The creation of the BHSF is a key aspect of this strategy establishing a vehicle to create opportunities to énhance engagement and involvement with alumni, pantS and friends in both school activities and through fundraising initiatives.
THE BALLYCLARE HIGH SCHOOL FOUNDATION LTD TRUSTEES, ANNUAL REPORT {conVd) ACTIVITIES AND OBJEcfivES BHSF was registered as a company limited by guarantee on 25th January 2022 and as a charity with the Charity Commission for Northern Ireland on 17th August 2022. The company was dormant until its formal launch in October 2022. These accounts to September 2024 represent its second year of operation. Launch Campaign The Bright Futures Campaign aims to raise £300,IJOO to support two overarching areas of need: £150,000 towards an Opportunities Fund aimed at improving educational, physical and creative opportunities at the school through the investment in learning resources, sport and active recreation, music and the arts. £150,000 towards a Support Fund aimed at enhancing support towards health and wellbeing services and in providing Spaces in which pupils can grow and thrive. Support for the Foundation The Foundation has established various streams by which support can be provided most notably; By becoming a 'Founding Memberf and making a large donatlon over the course of the launch period; Through th8 making of regular or one-off donations to the launch fund for any other purpose as so specified; or Through organising or supporting specific fundraising activities such as the Celebration of Rugby Gala Ball which commemorated the 50th anniversary of winning The Schools, Cup and the love and passion that rugby over the years. Fundraising events are a wonderful example of the benefits of the Foundation in practice, providing opportunities to celebrate and engage with friends and alumni and in so doing create opportunities to support the school and its pupils of today. Specific Activities during the year During the year the Foundation was delighted to be able to support the school in the appointment of a new Health & Wellbeing Officer in early 2024. This appointment was made possible through specific support received from ex-Alumni James Hagan of Hagan Homes and represents a leading*dge
THE BALLYCLARE HIGH SCHOOL FOUNDATION LTD TRUSTEES, ANNUAL REPORT (conyd) development for a sch¢Jol in Nl into the critical supportfor and development of emotional health and wellbeing of its pupils. In addition, the Foundation is now the established vehicle by which School Funds are received by the school annually. This creates an opportunity for parents to boost their annual donations to the school by further 25/ from the HMRC via gift aid. The Foundation then releases these funds to the school in order for it to provide the range of additional services which the School Fund is targeted as delivering by the school each year. Granting of Awards The Foundation was also delighted to be able to start to release funds raised to date through the Bright Futures Campaign to support the pupils at the school. Awards totalling £87,785 was committed to a range of projects submitted by the school such a5 replenishment of resources in the library, replacement of IT equipment, refurbishment of toilets, canteen and reception. These projects are expected to be progressed during the new School year 24125. Public Benefit The BHSF has been established to help raise funds, encourage a culture of philanthropy in the school community and issue grants to advan the education of the pupils attending BHS. The direct benefits which flow from the organi53tion's purpose include enhanced educational opportunities and improved life chances for pupils attending BHS. These benefits can be demonstrated through Improved educational outcome5 and opportunitie5. There is no harm arising from the Foundation's purpose. The beneficiaries are pupi15 attending BHS. There is no private benefit flowing from the Foundation's purwse. The trustees canfirm that they have complied with the requirements of section 4 of the Charities Act 2008 to have due regard to the public benefit guidance published by The Charity Commission for Northern Ireland. ACHIEVEMENTS AND PERFORMANCE/FINANCIAL REVIEW th Total Income of the Foundation for the initial period since its launch until the 30 September 2024 was £138.79? I?023. £202..1381 with expenditure durin8 that period amoun.ting to £80,133 {2023: £19..055). Unrestricted Income principally relates to donations towards the Bright Future Campaign, the launch campaign of the Foundation. Restricted Income relates to annual parental donations towards School Fund, together with any gift aid to be recovered on such funds, and to income received from a donor towards the position of Health & Wellbeing Officer in the school.
THE BALLYCLARE HIGH SCHOOL FOUNDATION LTD TRUSTEES. ANNUAL REPORT (cont'd) Expenditure in the year principally relates to the release of restricted funds to the school in line with the purpose they were received. The release of funds to the school associated to the Bright Futures Campaign are expected to stsrt to be made during the 24125 financial year as successful projects are progressed. RESERVES POUCY The policy of the trustees is not to accumulate reserves but to use reselves in the promotion of the charity's objettives. With regard to the Bright Futures Campaign the trustees have targeted an initial 3- year fundraising period with fund5 being released once suitsble applications have been received by the school in line with Award Policy agreed by the Trustees. Therefore it would be expected that reserves will build up across the initial period with awards being made level of funds raised 15 better known and therefore projects can be prioritised appropriately. With regard to other funds received such a5 donations to the school fund and other Specific donations made by donors, these will be released to the School in a timely manner in order to serve the manner in which the donations were made. FUTURE PLANS In addition to the progressing the delivery of the projects where funds have already been committed, the Foundatlon is planning to launch a new scheme during 2025 whereby teachers can submit applications to the Bright Futures Campaign for project support so a5 to widen the reach of the Campaign. We plan also to continue to promote opportunities for alumni to engage with each other, with a follow up to our first London gathering expected in the autumn of 2025 and also an event to celebrate the sporting achievements of the women of BHS in December 2025. Ario] Tinaiiy wvè wiii iooil capiia115è on Èné vvc¥iK progré55éii Iri cné éqfiy y.éars OT Ine Fourioation, CiOSihg out our launch campaign and establishing sustainable streams where financial giving can be channelled, creating further opportunities for alumni to support activities within the school in value added ways and developing a culture whereby the willingness within our wider school community to give back of their time, knowledge, experiences, can be suitably harnessed. STATEMENT OF TRUSTEE RESPONSIBILITIES Thé Trustees are responsible for preparing the annual réport and the financial statements of the congregation in accordants with applicable law and generally accepted accounting practi.
THE BALLYCLARE HIGH SCHOOL FOUNDATION LTD TRUSTEES, ANNUAL REPORT (cont'd) The Trustees are responsible for keeping adequate accountlng records that are sufficient to show and explain the congregation's transactions and disclose with reasonable accuracy at any time its financial Position. They are also responsible for safeguarding the assets of the congregation and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. th Approved by the directors at a meeting on 19 June 2025 and signed on its behalf by: Na e,. Michelle ey Name: Michael MCKI Director & Trustee Director & Trustee th Date: 19 June 2025 Date: 19th June 2025
INDEPENDENT EXAMINERS REPORTTO THE DIREcfoRS OF THE BALLYCLARE HIGH SCHOOL FOUNDATION LTD I report on the financial statements of The Ballyclare High School Foundation Ltd forthe year ended 30 September 2024 which are contained within the Report. Respective responsibilities of trustees and Independent examlner The Ballyclare High School Foundation's directors re responsible forthe preparation of the financial statements in accordance with the tenns of the [Charities Act (Northern Ireland} 2008]. The Ballyclare High School Foundation's directors considerthat an audit is not required under section 6512) (audit) of the Charities Act (Northern Ireland) 2008 forthe year and that an independent examinatlon under section 64{1} of the Charities Act {Northern Ireland) 2008 is required. It is my responsibillty to: examine the accounts to state whether particular matter5 have come to my attention. Basis of independent examiner's report My examination was carried out under Section 65 of the Charities Act (Northern Ireland) 2008. An examination includes a review of the accounting records kept by the Foundation and a comparison of the financial statements presented with those records, It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanationsfrom the trustees concerning anysuch matters. The procedures do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given bythe financial statements. Independent examlner's statement In the course of my examination, no matter has come to my attention: 11) which gives me reasonable cause to believe that in any material respert the requirement5: to keep proper accounting records in accordance with Section 63 of the charities Act (Northem Ireland) 2008, and to prepare financial statements which accord with the accounting records in accordance with Section 64 of the Charities Act (Northern Ireland) 2008 have not been met; or {21 to which in my opinion, attention should be drawn in order to enable a proper understanding of the financial stat o be reached. opper FCA Partner Hopper & Co 19 June 2025
THE BALLYCUIRE HIGH SCHOOL FOUNDATION LTD STATEMENT OF FINANCIAL AcfiviTY (INCLUDING INCOME AND EXPENDITURE ACCOUNn for the year ended 30 September 2024 Note Unrestrlcted Funds Restrirted Funds Total 2024 Total 2023 Income from: Donations and legacies Charitable Activities 30,007 108,785 138,792 164,426 37,712 Total Income 30,007 108,785 138,792 202,138 Expenditure on: Charitable activities 1,079 79,054 80,133 19,055 Total Expenditure 1,079 79,054 80,133 19,055 Net Income 28,928 29,731 58,659 183,083 Net movement in funds Funds brought forward 28,928 126,740 29,731 56,343 58,659 183,083 183,083 Funds carried fonmard 10 155,668 86,074 241,742 183,083 All income and expenditure derive from continuing activities. The statement of financlal activities includes all gains and losses recognised during the year.
THE BALLYCLARE HIGH SCHOOL FOUNDATION LTD {REGISTRATION NUMBER N1685284) BALANCE SHEET As at 30 September 2024 Note 2024 2023 Current Assets Cash and cash equivzlents Total current assets 243,249 203,462 184,103 184,103 Creditors: amounts falling duewithin one year Total Creditors 1,507 1.020 1,020 Net Current Assets 241,742 183,083 Total Net Assets 241,742 183,083 Funds of the charlty Unrestricted funds General funds Designated funds 10 1,168 154,500 155,668 240 126,500 126,740 Restrirted funds School Funds Health & Wellbeing OffIr History Book Fund Defibrillator Fund 10 78,136 3,500 3,000 1,438 86,074 51,905 3,000 1,438 56,343 Total charity funds 241,742 183,083 For the financial year ending 30September 2024, the chartty 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 charity to obtain an audit of its acwunts forthe year in question n accordance wlth section 476. and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 10
THE BALLYCLARE HIGH SCHOOL FOUNDATION LTD {REGISTRATION NUMBER N1685284) BALANCE SHEEr As at 30 September 2024 These financial ststements have been prepared in accordance with the special provisions re5ating to companie5 subject to the small companies regime within Part 15 of the Companies Act 2006. These financial statements were approved by the board of trustees and authorised for issue on 19 June 2025 and are signed on behalf of the board by: e: Michelle ney Name: Michael McKinstry Director & Trustee Director & Trustee Date: 19 June 2025 th Date: 19 June 2025 The notes on pages 12 to 21 form part of these financial ststements, 11
THE BALLYCLARE HIGH SCHOOL FOUNDATION LTD NOTESTOTHE FINANaAL STATEMENTS for the year ended 30 September 2024 I. CHARITY STATUS The charity is limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is: 31 Rashee Road Ballyclare Co Antrim 8T39 9HJ These financial statements were authorised for issue by the trustees on 12 June 2025. 2. ACCOUNTING POLICIES statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice {applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Basis of preparation Ballyclare High School Foundation Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwlse stated in the relevant accounting policy notes. Summary of slgnificant accounting pollcies and key accounting estimates The significant accounting policies applied in the preparation of these financial statements are set out below. The trustees consider that these policies are suitable, have been consistently applled and are supported by reasonable and prudent judgements and estimates. 12
THE BALLYCLARE HIGH SCHOOL FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (cont'd) 30 September 2024 Going concern rhe trustees consider that there are no material uncertainties about the charity's atiiiity to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charty. FUND ACCOUNTING The charity has various type5 of funds forwhich it is responsible, and which require sepaRte disclosure, A definition of the various types of funds is as follows: Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and {b) revenue donations or grant5 for a specific charitable activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis. Unrestricted funds are funds which are expendable at the discretion of the Charity in furtherance of its objectives. In addition to expenditure on activities such funds may be held in order to finance capital investment and working capital. Designated funds are general funds set aside by the trustees for use in the future. INCOMING RESOURCES All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entttled to the income after any performance conditions have been met. the amount can be measured reliably, and it is probable that the income will be reIved. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained. then income is deferred until those condttions are fully met or the fulfilment of those conditions is within the control of the charity, and it is probable that they will be fulfilled. Voluntary income received by way of donations and gift is credited to revenue on a receivable basis. 13
THE BAILYCIARE HIGH SCHOOL FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (convd) 30 September 2024 The charity receives grants in respect of support servIs. Income from govemment and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. Revenue grants are credited to incoming resources on the earlier date of when they are reiVed or when they are receivable unless they relate to a specified future period. Other income represents income that cannot be reported under the other analysis headings provided within the SOFA. (i) Incoming resources with related expenditure Where incoming resources have related expenditure (as with insurance proceeds) the incoming resource5 and related expenditure are reported gross in the SOFA. (li) Grants and donations Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. (iii) Tax reclaims on donations and gifts. Incoming resources from tsx reclaims are included in the SOFA at the same time as the gift to which they relate. (Iv) Contractual income and performance related grants This is only included in the SOFA once the related goods or services have been delivered. (v) Gifts in kind Gift5 in kind aE accounted for at a reasonable estimate of their value to the charity or the amount actuallv realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. (vi) Donated services and facilities These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charitv is reasonablv auantlfiable. measurable and material. The value DI3 on these resources is the estimated value to the charity of the service or fracility received. 14
THE BALLYCLARE HIGH SCHOOL FOUNDATJON LTD NOTES TO THE FINANCIAL STATEMENTS (cont'd) 30 September 2024 (vii) Investment income This is included in the accounts in the period to which it relates. (viii) Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revalulng investments to market value at the end of the year. EXPENDITURE AND LIABILITIES All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. It is otegorised under the following heading5: Expenditure on charitable activitie5 comprises those costs incurred by the charity in the delivery of its activitie5 and services for its beneficiaries and includes salary costs, support service expenses, and an apportionment of support costs; other expenditure represents those items not falling into the categories above. (i) Liability retognltion Liabilities are recognised where there is a legal or constructive obligation to make payments to third parties, it Is probable that the settlement will be required, and the amount of the obligation can be measured reliably. {ii) Governance costs These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specific level of service or output to be Drovided. such Rrants are onlv recoRnised in the SOFA once the recipient of the 2rant has nrovided the speclfied service or output. (iv) Grants payable without performance conditions These are only cogniSed in the account5 when a commitment has been made and there are no conditions to be met relating to the grant whith remain in the control of the charity, 15
THE BALLYCLARE HIGH SCHOOL FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (cont'd) 30 September 2024 {v) Support costs Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. whe support costs cannot be directly attributed to particular headings. they have been allocated to cost of Rising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on a basis consistent with the use of the resources. Staff costs and other overhead5 have been allocated based on time spent, per capits and activity. Value Added Tax The charity is not registered for VAT purpose5, therefore expenditure is shown gross of VAT. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 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 categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets costing £500.00 or more are initially recorded at cost, less any Subsequent accumulated depreciation and subsequent accumulated impairment10sses. Tax The charity benefits from various exemptions afforded by tsx legislation. It is therefore not liable to corporation tsx on income or gains falling due within those exemptions. Recovery is made of tax deducted from receipts under gift aid. Going concern The financial Statements have been prepared on a going CDncern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves forthe charity to be able to wntinue as a going concern. 16
THE 8ALLYCLARE HIGH SCHOOL FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (convd) 30 September 2024 3. DONATIONS AND LEGAaES Unrestritted Funds Restrlcted Funds Total 2024 Total 2023 Grants Donations Grants 30,007 108,785 138,792 161,426 30,007 108.785 138,792 164,426 4. CHARITABLE ACTIVITI ES Unrestricted Funds Restrirted Funds Total 2024 Total 2023 Celebration of Rugby Event 37,712 S. EXPENDITURE ON CHARITABLE AcfiviTIES BY ACTIVITY TYPE Unrestrlcted Funds Restrirted Funds Totsi 2024 Totsi 2023 Charitable Activity Grants- School Fund Grants- Health & Wellbeing Governance costs 179 179 61,554 17,500 900 18,035 61,554 17,500 1,020 1,079 79,054 80,133 19,055 17
THE BALLYCLARE HIGH SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (conyd) 30 September 2024 6. ANALYSIS OF SUPPORT COSTS Unrestricted Funds Restricted Funds Total 2024 Total 2024 Event Costs Finance Costs 17,561 474 179 179 179 179 18,035 7. INDEPENDENT EXAMINATION FEES Total 2024 Total 2024 Fees payable to independent examiner ft)r: Independent examination of the financial ststements 900 1,020 8. TRUSTEES REMUNERATION AND EXPENSES The Trustees received no remuneration from the charity during the current or preceding financial years. 18
THE BALLYCLAR£ HIGH SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (cont'd) 30 September 2024 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Total 2024 Total 2024 Accruals & Deferred income Other Creditors 900 607 1,020 1,507 1,020 10. ANALYSIS OF CHARITABLE FUNDS 2024 Balance at start Income Expendltu Surplus / re (Deficlt) Transfer Balance at end Unrestrirted Funds General fund Designated fund 240 126,500 30,007 {1,079) 28,928 (28,000) 1,168 28,000 154,500 l J*ires+.r4p+erl FI,. 126.740 (1,079) Restricted School Fund Health & Wellbeing History Book Fund Defibrillator Fund 51,905 87,785 21,000 (61,554) 78,136 3,500 3,000 3,500 3,000 Restricted Funds 56,343 108,785 (79,054) 29,731 86,074 Total Funds 183,083 138,792 (80,133) 58,659 241,742 19
THE BALLYCLARE HIGH SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {conYd) 30 September 2024 2023 Balance at start Income Expenditu Surplus / re (Deficit) Transfer Balance at end Unrestritted Funds General fund Designated fund 145,795 (19,055) 126,740 (126,500) 240 126,500 126,500 Unrestrirted Funds 145,795 (19,055) 126,740 126,740 Restrlcted School Fund History 8ook Fund Defibrillator Fund 51,905 3,000 1,438 51,905 3,000 1,438 51,905 3,000 1,438 Restricted Funds 56,343 56,343 56,343 Totsl Funds 202.138 (19,055) 183,083 183,083 Designated Funds The Bright Futures Campaign aims to raise £300,000 to support two overarching areas of need.. £150,000 towards an Opportunities Fund aimed at Improving educational, physical and creative opportunities at the school through the investment in learning resources, sport and active recreation, music and the arts. £150,000 toward5 a Support Fund aimed at enhancing 5UPPOrt towards health and wellbeing services and in providing spaces in which pupils can grow and thrive. The trustees have to date raised restricted funds totalling £139,690 towards this aim and designated a further £154,500 of funds received towards this campaign. 20
THE BALLYCLARE HIGH SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (cont'd) 31 September 2024 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restrirted Funds Funds Total 2024 Current assets Creditors less than l year 157,175 {1,507) 86,074 243,249 (1,5071 155,668 86,074 241,742 U nrestricted Restricted Funds Funds Total 2023 Current assets Creditors less than l year 127,760 { 1,020) 56,343 184, 103 11,020) 126,740 56,343 183,083 12. FINANCIAL COMMITMENT No contracts had been placed for future capital expenditure at the balance sheet date 13. ETHICAL STANDARDS In common with many other organisations of our size and nature, we use our independent examiner to prepare and assist in the preparation of the financial staternents. 14. RELATED PARTIES There were no related party transactions during the year. 21