Charity registration number NIC 108947 Company registration number N1652343 (Northern Ireland) ULSTER HOCKEY LTD ANNUAL REPORT AND FINANCIAL STATEMENTS (CHARITABLE COMPANY LIMITED BY GUARANTEEI FOR THE YEAR ENDED 31 MARCH 2025
ULSTER HOCKEY LTD CONTENTS Page Charity Reference and Administrative Information Trustees, report Independent auditor's report Statement of financial activities Balance sheet 10 Statement of cash flows 11 Notes to the financial statements 12-24
ULSTER HOCKEY LTD CHARITY REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Gareth Herron Peter Kelly Sarah Little Christine Reid Adrian Murphy Chloe Gillard William George Wlson Company Secretsry Marc Scott Charlty number NIC 108947 Company number N1652343 Registered office Unil 5G Stirling House 478 Castlereagh Road Belfast BT5 6BQ Independent auditor Johnston Kennedy DFK Chartered Accountants Ground Floor BlockA. The Sidings Antrim Road Lisburn BT28 3AJ Bankers Danske Bank PO Box 183 Donegall Square West Belfasl BT16JS
ULSTER HOCKEY LTD TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees, who are also directors for the purposes of company law, present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordan with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and the Charities Act (Northern Ireland) 2008. The trustees have adopted the Statement of Recommended Practice (SORP) ' Accounling and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity- Objectives and activities The responsibility of the charity is the governance and administration of hockey in Ulster. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities Ihe charity should undertake. The charity's objects are specifically restricted to the promotion of the following purposes for the benefit of the public.. to encourage. promote. develop. manage and control all hockey in Ulster. to administer the funds of the charity,. to appoinl employee{s) andlor conlraclors for the efficienl administration of Ihe objectives of the charity., to make, maintain and publish rules, regulations, policies and procedures for the proper running of the charity., lo operate exclusively for charitable purposes-, and to do all such other Ihings as may be necessary or conducive for the attainment of the above objectives. Financial review It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to at least six month's expenditure. The trustees consider Ihat reserves at this level will ensure that, in the evenl of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The results for the year are set out on pages 9 to 24. The charity generated a net unreslricted surplus for the year of £132.478 (2024.. net unrestricted surplus of £82,197). The level of free reserves at 31 March 2025 amounted to £600,879 (2024= £468,401). The charity also generated a net restricted deficit for the year of £562 and a transfer of this amount was made from unrestricted funding lo finance this overspend in restricted funds. Structure, governance and management The charity is a company limited by guarantee incorporated on 12 April 2018. The charity is governed by its Memorandum and Articles of Association which were last amended on 27 Oclober 2020. It has been granted haritable stalus by the charity commission for Northern Ireland under registration number NIC 108947. The charity is governed by its trustees who meet a minimum of eight times annually to discuss financial and strategic issues. policy and procedure decisions, and lo ralify significant legally binding decisions. Mr Marc Scott, executive manager, is responsible for the day to day running ofthe charity.
ULSTER HOCKEY LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The trustees, who are also the direclors for Ihe purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. Timothy Cockram Gareth Herron Peter Kelly Sarah Little Neal Lucas Christine Reid Adrian Murphy Chloe Gillard William George Wilson (Resigned 26 November 2024) (Resigned 21 May 2024) None of the trustees hold a beneficial interest in the assets of the company. If appropriate. new Iruslees are invited onto the Board when Ihe need arises. There are no specific requirement5 regarding skills or experience. However, the current trustees recognise the importance of a diverse and competent Board and this will impact upon any nomination. New trustees receive appropriate induction procedures and training upon appointment. No trustees receive any remuneration for their services. Statement of trustees, responsibilities The trustees, who are also the directors of Ulster Hockey Ltd for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial ststements for each financial year which give a true and fair view of Ihe state of affairs of the charity and of the incoming resources and application of resources. including the income and expenditure. of the charitable company for that year. In preparing these fsnancial statements, the trustees are required to= select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP., make judgements and estimates Ihat are reasonable and prudent.. state whether applicable UK Accounting Standards have been followed, subjed to any material departures disclosed and explained in Ihe financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The truslees are responsible for keeping adequate accounting records thal disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charilable company and hence for taking reasonable step5 for the prevenlion and detection of fraud and other irregularities. Auditor In accordance with the company's articles, a resolution proposing that Johnston Kennedy DFK be reappointed as auditor of the company will be put at a General Meeting.
ULSTER HOCKEY LTD TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Dlsclosure of inforniation to auditor Each of the trustees has confirmed that there is no information of which Ihey are aware which is relevant to the audit. but of which the auditor is unaware. They have further confirmed thal they have taken appropriate steps to identify such relevant information and to establish thal the auditor is aware of such information. Special Provisions Relating to Small Companies This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The trustees, report was approved by the Board of Trustees. rustee Date.. LOLS
ULSTER HOCKEY LTD INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ULSTER HOCKEY LTD Opinion We have audited the financial statements of Ulster Hockey Ltd (the 'charity'} for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significanl accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally ACpted Accounting Practice). In our opinion, the financial stalements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources including its income and expenditure for the year then ended., have been properly prepared in accordance wilh United Kingdom Generally Accèpted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We Gonducled our audit in accordan with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibililies under those standards arè further described in the Auditols responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including Ihe FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requiremenls. We believe that Ihe audit evidence we have oblained is sufficienl and appropriale lo provide a basis for our opinion. Conclusions relating to going concern In auditing Ihe financial statements, we have conGluded Ihat the directors. use of the going concem basis of accounting in the preparation of the financial slatements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relaling to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability lo continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. other information The other information comprises the information included in the annual report other Ihan the financial slalements and our auditor's report thereon. The trustees are responsible for the other information contsined within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so. consider whether the olher information is materially inconsislent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such malerial inconsistencies or apparent malerial mi5Statement5, we are required to determine whelher this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstalement of this other information. we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companie$ Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the trustees. report for the financial year for which the financial statements are prepared. which includes the directors. report prepared for the purposes of company law, is consistent with the financial statements., and the directors, report included within the trustees, report has been prepared in accordance wilh applicable le9al requirements.
ULSTER HOCKEY LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ULSTER HOCKEY LTD Matters on which we are required to report by exception In the light of Ihe knowledge and understanding of the charity and ils environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the trustees, report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: Sufficient accounting records have not been kept or returrss adequale for our audit have not been received from branches not visited by us. the financial statements are not in agreement with the accounting records.. or certain disclosures of trustees, remuneralion specified by law are not made., or we have not received all Ihe information and explanations we require for our audit., or the trustees were not entilled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees. report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the slatemenl of truslees, responsibililies, Ihe truslees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to Continue as a going concern, disclosing, as applicable, mallers related to going concern and using the going concern basis of accounting unless the truslees either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so.
ULSTER HOCKEY LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ULSTER HOCKEY LTD Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditor under section 65{2) of the Charities Act (Northern Ireland) 2008 and report in accordance with the Acl and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economio decisions of users taken on the basis of these financial statements. The Scope of our audit Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to delect material misstatements in respect of irregularilies, including fraud. As part of our audit, we determined materiality and assessed the risks of material misstalement. in the financial statements. Capability of the audit in deterniining irregularities. including frnud. The extent lo which our procedures are capable of delecling irregularities. including fraud. is detailed below: the nature of the activities and seclor, control environment and performance- results of our enquiries of management about their own identification and assessment of the risks of irregularities: any matters we identified having obtained and reviewed the charitsble company's documentation of their policies and procedures relating to: identifying. evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance., detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud- Ihe internal controls established lo mitigate risks of fraud or non-compliance with laws and regulations., the matters discussed among the audit engagement team and relevant internal specialisls where necessary regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
ULSTER HOCKEY LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ULSTER HOCKEY LTD As a result of these procedures. we considered Ihe opportunities and Incenlives that may exist within the organlsallon for fraud. In common vilh all audits under ISAS (UK). we are also requlred lo perform specific procedures to respond to the iisk of managemenl override. We also obtained understanding of thg legal and regulatory fiameworks that the charftable company operates In, focusing on provisions of those laws and regulalions that had a direct effect on the delerminalion of material amounts and di5closuies in the financial slalemenls. The key laws and regulations wa consldered in Ihls context included the Companies Act 2006. the Chaiibes Act (Northem Ireland) 2008 and Taxauon Legislalion. In addition, we considered provisions of other laws and Te9ulaUons that do not have a direct effect on the financlal slalemenls bul compllance wllh whlth may be fundamental to the charllable company's abllily lo opeiale or to avoid 8 material penalty. As a result of performing thè above our procedures to r@sporKI to risks identified Included the following.. raviewing the financial statement disclosures and lesling lo supportlng documgntation to assess compliance wilh provislons of lerms of funding, relevant laws and regulations dgs¢ribed a5 havlng a dlrecl effect on the financlal slalemenls. enqulrlng of management concerning actual and potential litlgalion and claims: performlng analytical piocedures to identify any unusual or unexpected relallonshlps that may indicate risks of malerl81 misslalement due lo fraud: reading mlnutes of meetings of those charged with 9ovemance and roviowlng correspondence wllh HMRC: and in addressing the rlsk of fraud through management override of conlrols. testlng the appToprialene$s of journal enlrles and other adluslmenls; assesslng whether the judgemenls made in maklng accounllng esllmates are indicative of a potential bias: and evalualing the buslness ralionale of any slgnificant Iransactlons Ihal are unusual or oulslde the normal Course of business. We a180 communlcated relevant Idenllfied laws and rcgulatlons and polenllal Iraud rlsks to all engagement le8m members, Including Internal speclalists. and rernained alert lo any indiGalion5 of fraud or non-compliance with laws and regulallons throughout the audlt. A further descrlptlon of our responslbllllles Is avallable on the Financial Reporting Councll's webgitg al: https'.11 v.frc.org.uklauditorsresponslbllilies. Thls desrAlpllon forms part of our auditor's roport. Use of ourreport This report is madè sol8ly to the company's members, as a body. in accordance with Chapter 3 of Part 16 of the Companl&s Act 2006. Our audil work has been undertaken so that we mlght slale to the company's members those matters wo ale requlred lo slate lo them in an auditor's report and for no other Purpose. To the fullest extent permitl8d by law, we do not accept or assume responsibility to anyon6 olher than the charitable company and the charllable company's members as a body. for our audit work, for Ihis report. or for ihe oplnlons we have foimed. Duncan Graham (Senior Statutory Auditor) For and on behalf of Johnston Kennedy DFK Chartered Accountants statutory Audltor Ground Floor Block A, The Sldings Antrim Road Llsburn BT28 3AJ
ULSTER HOCKEY LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from: Donations and legacies Income from Charitable activities Other trading activities Investments 205,968 205,968 37,500 37,500 392,180 12,280 5,161 310,277 702,437 12,280 5,161 476,537 36,880 3,617 352,507 829,044 36,880 3,617 Total income 615,569 310,277 925,846 517.034 390,007 907,041 enditure on: Expenditure on Irading activities Expenditure on charitable activities 23,996 16,125 40,121 2,759 20,317 23,076 458.533 294.714 753,247 417,997 332,189 750,186 Total expenditure 482.529 310.839 793,368 420,756 352,506 773,262 Net ineomingl{outgoingl resources before transfers 133.040 (562) 132,478 96,278 37,501 133,779 Gross transfers between funds (562) 562 (14.081) 14,081 Net income for the yearl Net movement in funds 132,478 132,478 82,197 51,582 133,779 Opening Balances at 1 April 2024 468,401 37,500 505.901 386.204 (14,082) 372.122 Fund balances at 31 March 2025 600.879 37,500 638,379 468,401 37,500 505,901 statement of ¢omprehensive income There 15 no other comprehensive income to report for Ihe financial year. Continuing operations The Statement of Financial Activities has been prepared on the basis that all operations are continuing operalions. Historical Cost The results as disclosed in the statement of financial activities and the net in¢oming resources for Ihe year have been presented on an historical G05t basis. Comparatives The comparative amounts by fund have been disclosed in notes 3 - 8. The notes on pages 12 to 24 fom) part of these financial statements
ULSTER HOCKEY LTD BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 14 17,016 13,249 Current assets Stocks Debtors Cash at bank and in hand 15 16 8,637 230,904 455,847 8,657 181.293 365.956 695,388 555,906 Creditors: amounts falling due within one year 17 (74,025) (63.254) Net current assets 621.363 492,652 Total assets less current liabilities 638,379 505,901 Income funds Reslricted funds Unreslricted funds 19 20 37.500 600,879 37,500 468,401 638.379 505.901 These financial statements have been prepared in accordance with the provisions applicable lo companies subject to the small companies regime. The financial stalements were approved by the Trustees and aulhorised for issue on its behalf by: and signed on eorge Wilson Trustee Peter Kell Company registration number N1652343 Charity registration number NIC 108947 The notes on pages 12 to 24 fonn part of these financial ststements 10-
ULSTER HOCKEY LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash generated froml(absorbed by) operations 28 96,146 (3,558) Investlng activities Purchase of tangible fixed assets Investment income received (11,416) 5,161 (7,941) 3.617 Net cash used in investing activities (6,255) (4,324) Net cash generated from financing activities Net increaselldecrease) In cash and cash equivalents 89.891 (7,882) Cash and Gash equivalents at beginning of year 365,956 373,838 Cash and cash equivalents at end of year 455,847 365,956 11
ULSTER HOCKEY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity information Ulster Hookey Ltd is a private cornpany limited by guarantee incorporated in Northern Ireland. The registered office is Unit 5G, Stirling House, 478 Castlereagh Road, Belfast, BT5 6BQ. 1.1 Basis of preparation The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Charities Acl (Northern Ireland) 2008, the Companies Act 2006 and "Accounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial slatements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statemenls are rounded to the nearest £. The financial statements have been prepared under the historical cost convenlion. The principal accounting policies adopted are set out below. 1.2 Going concern Al the lime of approving the financial statemenls, Ihe trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for Ihe foreseeable future. Thus the trustees continue to adopt the going conrn basis of accounling in preparing the financial statements. 1.3 Fund Accounting The charity has different types of funds for which it is responsible. and which require separate disclosure. These are as follows: (a) Restricted funds - Funding received which can only be used for a specific purpose as determined by the funder. Such purposes are within the overall aims of the organisation and are set out in the notes to Ihe financial statements. (b) Unrestricted funds - Funds which are expendable at the discretion of the trustee5 in the futherance of the objectives of the charity. In addition the funds may be held in order to finance capital investment and working capital. (c) Designaled funds are uninvested funds sel aside at Ihe discretion of the trustees for specific purposes. 1.4 Income and expenditure Income 15 recognised when the charity is legally entilled to it after any performance conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. All income arose wholly in the United Kingdom. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo Ihe category. The majority of costs are directly attribulable to charitable activities. Where costs cannot be direclly attributed to particular headings they have been allocated to charitable activitie5 on a basis consistent with use of the resources. Staff costs and overhead expense5 are allocated to aGtivilie5 on the basis of staff time spent on those activities. 1.5 Support costs Support cosls are those functions that assist the work of the charity but do not directly represenl charitable aclivities. Support costs include back office costs, finance, human resources, payroll and governance costs which support Ihe charity's activities. These costs have been allocated against Ihe expendilure on charilable activities. 12
ULSTER HOCKEY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.6 Tangible fixed assets Tangible fixed assets are inilially measured at cost and subsequently measured at cost or valuation, net of deprecialion and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their usefvl lives on the following bases.. Office Furniture Fixtures and fittings Computer Equipment Office Construclion 200/0 Straight Line 200/0 Straight Line 250/• Straight Line 100/0 Straight Line The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impaimient of fixed assets At each reporting end dale, the charity reviews the carrying amounts of its tangible assets to determine whelher there is any indication that those assets have suffered an impairment loss. If any such indicalion exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Stocks Stocks are slated at the lower of cost and estimated selling prsce less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacemenl cost and cost, adjusted where applicable for any loss of service polenlial. At each reporting date. an assessmenl is made for impairment. Any eXsS of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment1055 in profit or loss. Reversals of impairment losses are also recognised in profit or loss. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-lerm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in Gurrent liabilities. 1.10 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial inslruments are recognised in Ihe charity's balance sheet when Ihe charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the assel and settle the liability simultaneously. 13-
ULSTER HOCKEY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al Iransaction price including transaction costs and are subsequently carried at amortised oost using the effective interest method unless the arrangement constitutes a financing transaction, where the Iransaclion is measured at the present value of the fijlure receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitules a financing transaction. where Ihe debt instrument is measured at the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in Ihe ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if paymenl is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at transaction pri and subsequently measured at amortised cost using Ihe effective interest melhod. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.11 Taxation The company is a registered charity and is nol liable to tax on funds generated from activities within the scope of the charitable exemptions. 1.12 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's servyces are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably commiited to teminale the employment of an employee or to provide termination benefits. 1.13 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.14 Leases Rentals payable under operating leases. including any lease incenlives received. are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattem in which economic benefits from the leases assel are consumed. Critical accounting estimates and judgements In the application of Ihe charily's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affe¢ts both currenl and future period5. 14-
ULSTER HOCKEY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from donations and legacies Unrestrictsd Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Totsl 2025 2024 Legacies received 205,968 205,968 37,500 37,500 15-
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ULSTER HOCKEY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from other trading activities Unrestricted Unrestricted funds funds 2025 2024 Non-charitable trading activities Club 1896 2,840 9,440 16,655 20,225 Other trading activities 12,280 36,880 Income from investments Unrestricted Unrestrictsd funds funds 2025 2024 Interest receivable 5,161 3,617 Expenditure on other trading activities Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Other trading activities Club 1896 Non-charitable Irading activities 20,219 16,125 36,344 2,292 17,486 19,778 3.777 3.777 467 2,831 3,298 Other trading expenditure 23,996 16,125 40,121 2,759 20,317 23,076 17-
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ULSTER HOCKEY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Governance costs Governance costs 202S Audit fees Accountancy 5,073 1.228 5,073 1,228 6,301 6,301 Analysed beeen Charilable activities 6,301 6,301 Governance cosls includes payments to Ihe auditors of £5,073 for audit fees. 10 Net movement in funds 2025 2024 Net movement in funds is stated after chargingl(crediting) Fees payable to Ihe company's auditor for the audit of the company's financial statements Depreciation of owned tsngible fixed assets 5,073 7.649 5.294 7,997 11 Trustses None of the trustees (or any persons conneded with them) received any remuneration or benefits from the charity during the year. 12 Employees The average monthly number of employees during the year was: 2025 Number 2024 Number 25 23 Employment costs 2025 2024 Wages and salaries 395,055 360,008 The number of employees whose annual remuneration was more than £60,000 is as follows- 2025 Number 2024 Number £60,00110 £70,000 19
ULSTER HOCKEY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Taxation The charily is exempl from lax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 14 Tangible fixed assets Office Fixtures and Furniture fitting$ Computor Offlco Equipment Constructlon Total Cost As at 1 April 2024 Additions 5,632 404 13,791 32,040 11,012 7,224 58.687 11,416 At 31 March 2025 6.036 13,791 43,052 7,224 70,103 Depreciation and impaimient As at 1 April 2024 Depreciation charged in the year 3,949 556 12,378 967 21,887 6,126 7,224 45,438 7,649 At 31 March 2025 4,505 13,345 28,013 7.224 53,087 Carrying amount At 31 March 2025 1.531 446 15,039 17,016 At 31 March 2024 1,683 1,413 10,153 13,249 15 Stock$ 2025 2024 Stocks for resale 8.637 8,657 16 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Other debtors ArUed income 156.522 50.645 23,737 19,502 113.191 48,600 230,904 181,293 -20-
ULSTER HOCKEY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Creditors: amounts falling due within one year 2025 2024 Notes HMRC Creditor Deferred Income - Grants Charity activity creditors Accruals and deferred income 3,837 30,661 19,369 20,158 3,821 43,721 3,501 12,211 18 74.025 63,254 18 Grants Deferred income is included in the financial stalements as follows.. 2025 2024 Deferred income is included within.. Current liabilities 30,661 43,721 21
ULSTER HOCKEY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Analysis of net assets bebNeen funds Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Fund balances at 31 March 2025 are represented by: Tangible assels Current assetsl(liabilities) 17,016 621,363 17,016 621.363 13,249 455.152 13,249 492,652 37,500 638,379 638.379 468,401 37,500 505,901 22 Analysis of net funds At 1 April 2024 Financing At 31 March cash flows 2025 Cash at bank and in hand 365,956 89,891 455,847 23 Non4udit service provision In common wilh many other charities of our size and nature we use our auditors to assist with the preparation of the finan¢ial statemenls. 24 Capital commitments The company had no capitsl commitments as at 31 March 2025. 25 Related party transactions There were no disclosable related party transactions during the year (2024 - none). 26 Trustses. liability The company is limited by guarantee, not having a share capital and consequently the liability of members is limited. subject to an undertaking by each member to contribute lo the nel assets or liabilities of the company on winding up such amounts as may be required not exedIng £1. 27 Control The charily is controlled by the truslees who are all directors of the company. -23-
ULSTER HOCKEY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 28 Cash generated froml(absorbed by) operations 2025 2024 Surplus for the year 132,478 133,779 Adjustrnents for: Investment income recognised in statement of financial activities Depreciation and impairment of langible fixed assets (5,161) 7,649 (3,617) 7,997 Movements in working capital: Decrease in stocks (Increase) in debtors Increasel(decrease) in creditors (Decrease) in deferred income 20 (49,611) 23,831 113.060) (74,248) (52,608) (14,861) Cash generated froml(absorbed by) operations 96,146 (3,558) -24-