Ulster Grassland &Kiety Flnanclal statements For the year ended 31 December 2024 NI Charlty Comm188lon Regl8trntlon No: riIc109131
Ulster Gra881and Soelety Contents Contents Page Contents Trustees Annual Report Independent Examiner's report Statement of Financial Activities Balance Sheet Notes to the financial statements Pagel
Ulster Grassland Society Statement of Flnanclal Activltles (Incorporatlng the Income and Expendlture Account) for the year ended 31 December 2024 2024 Unr•strlcted Re•trlrt•d Total Income from: Annual Subscrlptlons Investment Income Interest 6,618 8,119 99 6.618 8,119 99 Total Income 1*836 14.837 Expendlture on: Ch•rftable Actlvltlev. USG Annual Conference (net) UGS Sprfng Meetlng (net) USG Summer Meeting (net) UGS Autumn Meetlng (net) Competitlons (net) UGS Webslte CAFRE Bursary Admlnlstratlon Costs 3,008 256 216 291 1,587 683 1.500 3,008 256 216 291 1.587 1,500 Totsl Exp•ndltur• 11373 11373 N•t Income l (Exp•ndlture) for t Trnnsfers Other ro¢ognl•¢d qaln• / 1108su): Galns on revaluatlon of fixed assets N•t Incom• b•for• recognl: galns or loss 2,463 2,464 2,463 2.464 Reconcllljtlon of Fund• Fund Balances Brought Foa &7 144,988 144,988 Fund Bal•nca• rrf¢d Fon 6-7 147 451 147 451 All Income derlves from contlnulng actlvltles, therefore no statement of recognlsed galns or 1055es Is given. lots• on pagej 13 to 16 forni an Integrnl part of them flnanclal stataffi Page 7
Ulstsr Grassland Sodety Balance Sheet as at 31 December 2024 Notes 2024 Flxed assets Tanglble Flxed Assets Current assets Investments Cash at bank & In hand 109,237 147.451 tlet Cuffent Assets 147,451 147 451 Fund• Unrestrictad Funds Balantr BIF Surplus In year 144.988 2,463 Balanc• B/F 147 451 For the year ended 31 December 2024 the chaiity was entltled to exemptlon from audlt under sectlon 65 of the Charftles Art (Northern Ireland) 2008. Trustees, responsibllltles: The members have not requlred the charlty to obtaln an audlt of its accounts for the year In questlon in accordance wlth sectlon 65; and The trustees acknowledge thelr responslbllltles for compFylng wlth the requlrements of the Act wlth respect to accounting records and the preparation of accounts. The flnanclal statements were approved by the Trustees and slgned on thelr behalf: Date Page 8
Ulster Grassland Society Notes to the Financial Statements for the year ended 31 December 2024 l. Accountlng Policies The principal accounting poliaes adoptedi judgements and key sources of estimatic in the preparation of the financial statements are as follows: a) Basls of Preparatlon The financlal statements have been prepared in accordance with Accounting and Ri Charities: Statement of Recommended Practice applicable to charities preparing thi accordance with the Financlal Reporting Standard applicable In the UK and Republli (FRS 102) (effective l January 2019) and the Charities SORP (FRS 102), the Flnan Standard applicable In the UK and Republlc of Ireland (FRS 102). Ulster Grassland Society meets the definitlon of a publlc benefit entlty under FRS I Assets and Ilablllties are initially COgnised at hlstorical cost or transartion value u stated in the relevant accounting pollcy notes. b) Preparatlon of the accounts on a golng concern basls Ulster Grassland Soclety has ppared the accounts on a going concern basis. The balance sheet is strong with strong contlnued support by the members. c) Income Income is recognised when the charity has entitlement to the funds, conditions att; item(s) of income have been met, It Is probable that the income will be received a can be measured reliably. Income from govemment and other grants, whether'ca 'revenue' grants, Is recognlsed when the charlty has entltlement to the funds, any conditlons attached to the grants have been met, It is probable that the income wll and the amount can be measured reliably and Is not deferred. d) Donated servlces and facllltles In accordance with the Charities SORP (FRS 102), the general volunteer tlrne of thi volunteers Is not recognised financially in the Statement of Finanaal Activities. e) Interest recelvable Interest on funds held on deposit is Induded when recelvable and the amount can I rellably by the charlty; thls Is nomially upon notlflcatlon of the Interest paid or pay. fj Fund Accountlng Unrestricted funds are available for use at the discretlon of the Trustees in furtherance of the objectlves of the charlty. Restrlcted funds are subjected to restn'ctions on their expenditure Imposed by the i No strtIOnS exist at this time except that funds should be applied to the objects Page 9