Frlp n f K,Irond' Friends of Kilronan Unaudited Financial Ststements 30 June 2024 Charity Registration Number: 109590 Friends of Kilronan Financial Statements Year ended 30 June 2024 Pag8 Trustees, annual report Independent examiner's report to the trustees Statement of financial activities ststement of financial position Notes to the financial statements Friends of Kilronan Trustees, Annual Report Year ended 30 June 2024 The trustees presenttheir report and the unaudited financial statements of the charity for the year ended 30 June 2024. Reference and administrative details Reglst•red charity name Friends of Kilronan Charlty rogistration numbor 109590 Princlpal offlce clo Kilronan School 46 Ballyronan Road Magherafelt BT45 6EN The trustees Mrs E Diamond Mrs E Mccullagh Miss C Adams Mrs A M Caggiano Mrs J Bradley Miss C McKeown Mrs Laura Davidson (appointed) (resigned) (resigned) (resigned) Accountants William Wilson Chartered Accountants 25 Shore Road Holywood Co Down BT18 9HX structure, governance and management The charity's governing document is a trust deed. The objects of the charity are detsiled in the objectives and activities paragraph below. Objectlves and activities 1. Charitable purposes The organisation is established for charitable purposes to advance the education of pupils in the school in particular by.. - developing effective relationships bebween the staff and parents and others associated with the school; engaging in activities or providing facilities or equipment which support the school and advance the education of pupils. 2. Charitable activities The organisation raises funds to support the pupils of Kilronan School and their families through social events. The organisation also provides funds ft)r educational resources and equipment recommended by the teaching staff at the school. The organisation aims to complement the family atmosphere which exists at the school through these social events and activities. Friends of Kilronan Trustees. Annual Report (contlnued) Year ended 30 June 2024 Achievements and performance The total raised in the year amounted to £7,894. This comprised ofdonations of£700, fundraising events income of £4,492 and grant income of £2,702. During this period the charity ran a number of events including a disco, a quiz night, gymnastics sessions, mindfulness sessions, coffee mornings and summer meet-ups for the families of the pupils. A total of £2,949 was spent on these activities and general running costs of the charity. The 2024 summer fun day took place in August 2024. Towards the end of the school year the committee received a request from the school's management team to contribute to the cost of the school trips due to the increased costs of transport. The committee agreed to contribute a total of £3,500 in this financial year and contributed a further £2,564 following the year end as a result of a request from management to pay for the school trips in full. This year also marked a major milestone when the school marked its 30th anniversary. In order to mark this the committee gave each pupil a stocking filled with sensory toys and a £10 Amazon voucher. The staff were all given a token of our appreciation as well. This cost a total of £2,854. The grants received in the year lon a cash basis) were as follows.. Mid Ulster District Council - £802 towards our 2023 and 2024 summer fun days NHSCT- £400 towards the mindfulness sessions Honorable Irish Society - £1,000 contribution to sensory equipment for the school Asda - £500 contribution to adaptive clothing for school. Publlc Beneflt The benefits which flow from the organisation's purposes include.. increased opportunities for the pupils to socialise outside of school in settings where the pupils and their families feel comfortable -provision of educational facilities and equipment which will advance the education of the pupils The pandemic led to social events being cancelled and this had a detrimental effect on the pupils and their families. The organisation held a number of social events and there was a lot of positive feedback received from the pupils and their families. The pupils enjoyed socialising outside of school hours in a relaxed, safe and friendly environment and the families enjoyed meeting with other families also experiencing similar challenges. The trustees have had regard to the Charity Commission (Northern Ireland) guidance on public benefit in managing the activities of the charity. Appointment of Charity Trustees The charity shall actively promote a board of trustees which include a range of skill, experience and knowledge in keeping with pursuance of its objects. Financial review As at 30 June 2024 the charity holds an amount of £20,764 in reserves. This is to ensure that there is adequate cover for any contingencies. The trustees, annual report was approved on 15 May 2025 and signed on behalf of the board of trustees by: Mrs A M Cagglano Chair Friends of Kilronan Independent Examiner's Report to the Trustees of Friends of Kilronan Year ended 30 June 2024 Basis of independent examiner's report I conducted my examination in accordance with the Directions to Independent Examiners made by the Charity Commission in Northern Ireland, setting out the duties of an Independent Examiner in relation to the conducting of an Independent Examination. An Independent Examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity 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 explanations from, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that the financial statements comply with the SORP, on a test basis, of evidence relevant to the amount and disclosure in the financial statements. The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular, l express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below. I planned and performed my examination so as to satisfy myself that the objectives of the Independent Examination are achieved and before finalising the report l obtained written assurances from the Trustees of all material matters. Independent Examlner's Statement, Report and Oplnlon Subject to the limitations upon the scope of my work as detailed above, in connection with my examination, I can confirm that.. This is a report in respect of an examination carried out under 65{3> of the Act and in accordance with Directions to Independent Examiners made by the Charity Commission in Northern Ireland which may be applicable - No matter has come to my attention in connection with my examination which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with Section 63 of The Charities (Northern Ireland) Act 2008, as amended, when preparing accounts on an accrual basis, to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act and the Regulations setting out the form and content of charity accounts, have been prepared in accordance with the Charities (Northern Ireland) Act 2008, as amended, and with the methods and principles set out in the FRS 102 Statement of Recommended Practice - Accounting and Reporting by Charities (effective January 2016> I have completed my examination and have no concerns in respect of the matters listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have no matters that require drawing to your attention. /orfL fu Wllliam Wllson, FCA William Wilson Chartered Accountants 25 Shore Road Holywood BT18 9HX 15 May 2025 Friends of Kilronan ststement of Financial Activities 30 June 2024 2024 2023 Income Donations Disco Summer Fun Da Quiz and online raffle Grants 700 746 250 294 550 3,746 2,702 406 Totsl income 7,894 1,500 Ex enditure Event costs.. Coffee mornin Disco Summer Fun Da Quiz G mnastics 418 288 473 1.020 200 358 123 535 Contributions to school-based 8v8nts/activities.' Summer term school tri Senso ment Mindfulness sessions 3,500 1,005 400 3,000 Exce tional items.. 30th birthda illstaff ifts 2,854 Sund runnin AGM costs T-shirts for volunteers Insurance Bank char costs., 200 110 163 77 145 61 es Total ex endlture 10,708 4,222 Deflclt for the ear 2,814 2,722 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activits'es. The notes on pages 6 to 8 form part ol these financial statements. Friends of Kilronan Statemant of Financial Position 30 June 2024 2024 2023 Current as50ts Bank 20,637 23,537 Cash 91 42 Net assets 20,764 23,579 Reserve8 Unrestricted reserves 20,764 23,579 20,764 23,579 These financial statements were approved by the board of trustees and authorised for issue on 15 May 2025, and are signed on behalf of the board by.. Mrs A M Cagglano Chair Tho notes on pages 6 to 8 form part of these financial statements. Friends of Kilronan Notes to the Financial Statements Year ended 30 June 2024 General information The charity is registered charity in Northern Ireland and is unincorporated. The address of the principal office is clo Kilronan School, 46 Ballyronan Road, Magherafelt, BT45 6EN. Statement of compliance These financial statements have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 181 January 2016) and FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 20161, published by the Charity Commission in Northern Ireland (CCNI), effective January 2016, and in accordance with all applicable law in the charity's jurisdiction of registration. Accountlng pollcies Bas18 of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity- Golng concern There are no material uncertainties about the charity's ability to continue. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds a￿ subjected to restrictions on their expenditure declared by the donor or through the terms ofan appeal, and fall into one of sub-classes.. restricted income funds or endowment funds. Friends of Kilronan Notes to the Financial Statements (continued) Year ended 30 June 2024 Accounting policies (contlnued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies a applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of ServI￿S is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resourc•8 expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitsble activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned be￿een the activities they contribute to on a reasonable, justifiable and consistent basis. Flnanclal Instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Friends of Kilronan Notes to the Financial Ststements fcontlnued) Yaar ended 30 June 2024 Accounting policies (continued) Financlal instruments (continued) Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significan￿, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Staff costs There were no staff employed during the year. Trustee remunoration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees