Charity registration number NIC 108947
Company registration number NI652343 (Northern Ireland)
ULSTER HOCKEY LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
(CHARITABLE COMPANY LIMITED BY GUARANTEE)
FOR THE YEAR ENDED 31 MARCH 2023
ULSTER HOCKEY LTD
CONTENTS
Page
Charity Reference and Administrative Information
1
Trustees' report
2 - 4
Independent auditor's report
5 - 7
Statement of financial activities
8
Balance sheet
9
Notes to the financial statements
10 - 20
ULSTER HOCKEY LTD
CHARITY REFERENCE AND ADMINISTRATIVE INFORMATION
- 1 -
Trustees
Timothy Cockram
Gareth Herron
Peter Kelly
Sarah Little
Neal Lucas
Christine Reid
Adrian Murphy
(Appointed 5 October 2022)
Company Secretary
Marc Scott
Charity number
NIC 108947
Company number
NI652343
Registered office
Unit 5G
Stirling House
478 Castlereagh Road
Belfast
BT5 6BQ
Independent auditor
Johnston Kennedy DFK
Chartered Accountants
Ground Floor
Block A, The Sidings
Antrim Road
Lisburn
BT28 3AJ
Bankers
Danske Bank
PO Box 183
Donegall Square West
Belfast
BT1 6JS
ULSTER HOCKEY LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -

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 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association and the Companies Act 2006. The trustees have adopted the Statement of Recommended Practice (SORP) "Accounting 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 the 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 appoint employee(s) and/or contractors for the efficient administration of the objectives of the charity; to make, maintain and publish rules, regulations, policies and procedures for the proper running of the charity; to operate exclusively for charitable purposes; and to do all such other things 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 that reserves at this level will ensure that, in the event 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 8 to 20. The charity generated a net unrestricted surplus for the year of £73,613. The level of free reserves at 31 March 2023 amounted to £386,204.

Structure, governance and management

The charity is a company limited by guarantee incorporated on 12 April 2018. On 1 May 2021 the company acquired as a going concern the business carried on by Ulster Hockey Union and commenced trading on that date. The charity is governed by its Memorandum and Articles of Association which were last amended on 27 October 2020. It has been granted charitable status 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 to ratify significant legally binding decisions.

 

Mr Marc Scott, executive manager, is responsible for the day to day running of the charity.

The trustees, who are also the directors for the 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
William Pollock
(Resigned 23 May 2023)
Christine Reid
Kenton Hilman
(Resigned 1 May 2022)
Adrian Murphy
(Appointed 5 October 2022)
ULSTER HOCKEY LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -

None of the trustees hold a beneficial interest in the assets of the company.

 

If appropriate, new trustees are invited onto the Board when the need arises. There are no specific requirements 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 statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the 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 financial 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 that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the 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 trustees are responsible for keeping adequate accounting records that 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 charitable company and hence for taking reasonable steps for the prevention 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.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

ULSTER HOCKEY LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
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.

Peter Kelly
Trustee
19 September 2023
ULSTER HOCKEY LTD
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF ULSTER HOCKEY LTD
- 5 -

Opinion

We have audited the financial statements of Ulster Hockey Ltd (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant 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 Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's 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 the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to 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 than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained 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 other information is materially inconsistent 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 material inconsistencies or apparent material misstatements, we are required to determine whether 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 misstatement 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 Companies 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 with applicable legal requirements.

ULSTER HOCKEY LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ULSTER HOCKEY LTD
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its 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

-

the financial statements are not in agreement with the accounting records; or

-
certain disclosures of trustees' remuneration specified by law are not made; or
-

we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, 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, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act 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 but 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 economic decisions of users taken on the basis of these financial statements.

 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

 

-     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;

–     the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

ULSTER HOCKEY LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ULSTER HOCKEY LTD
- 7 -

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

 

We also obtained an understanding of the legal and regulatory frameworks that the charitable company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006, the Charities Act (Northern Ireland) 2008 and Taxation Legislation.

 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charitable company's ability to operate or to avoid a material penalty.

 

As a result of performing the above our procedures to respond to risks identified included the following:

 

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Duncan Graham (Senior Statutory Auditor)
For and on behalf of Johnston Kennedy DFK
Chartered Accountants
Statutory Auditor
Ground Floor
Block A, The Sidings
Antrim Road
Lisburn
BT28 3AJ
Date: 19 September 2023
ULSTER HOCKEY LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
Notes
£
£
£
£
£
£
Income from:

Income from Charitable activities

3
391,162
301,003
692,165
312,665
186,240
498,905
Other trading activities
4
9,505
-
9,505
902
-
902
Investments
5
626
-
626
11
-
11
Total income
401,293
301,003
702,296
313,578
186,240
499,818
Expenditure on:

Expenditure on charitable activities

6
329,324
300,143
629,467
286,745
186,240
472,985
Net incoming resources before transfers
71,969
860
72,829
26,833
-
26,833
Gross transfers between funds
1,644
(1,644)
-
(5,200)
5,200
-
Net income/(expenditure) for the year/
Net movement in funds
73,613
(784)
72,829
21,633
5,200
26,833
Opening Balances at 1 April 2022
312,591
(13,298)
299,293
290,958
(18,498)
272,460
Fund balances at 31 March 2023
386,204
(14,082)
372,122
312,591
(13,298)
299,293
Statement of comprehensive income

There is no other comprehensive income to report for the financial year.

Continuing operations

The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations.

Historical Cost
The results as disclosed in the statement of financial activities and the net incoming resources for the year have been presented on an historical cost basis.
Comparatives

The comparative amounts by fund have been disclosed in notes 3 and 6.

The notes on pages 10 to 20 form part of these financial statements
ULSTER HOCKEY LTD
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 9 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
12
13,305
16,795
Current assets
Stocks
13
8,657
8,682
Debtors
14
107,045
81,684
Cash at bank and in hand
373,838
255,333
489,540
345,699
Creditors: amounts falling due within one year
15
(130,723)
(63,201)
Net current assets
358,817
282,498
Total assets less current liabilities
372,122
299,293
Income funds
Restricted funds
17
(14,082)
(13,298)
Unrestricted funds
18
386,204
312,591
372,122
299,293

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees and authorised for issue on 19 September 2023 and signed on its behalf by:
2023-09-19
Peter Kelly
Adrian Murphy
Trustee
Trustee
Company registration number NI652343
Charity registration number NIC 108947
The notes on pages 10 to 20 form part of these financial statements
ULSTER HOCKEY LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 10 -
1
Accounting policies
Charity information

Ulster Hockey Ltd is a private company 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 Act (Northern Ireland) 2008, the Companies Act 2006 and "Accounting 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 statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting 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 the financial statements.

(b) Unrestricted funds - Funds which are expendable at the discretion of the trustees 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) Designated funds are uninvested funds set aside at the discretion of the trustees for specific purposes.

1.4
Income and expenditure

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it 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 to the category. The majority of costs are directly attributable to charitable activities. Where costs cannot be directly attributed to particular headings they have been allocated to charitable activities on a basis consistent with use of the resources. Staff costs and overhead expenses are allocated to activities on the basis of staff time spent on those activities.

1.5
Support costs

Support costs are those functions that assist the work of the charity but do not directly represent charitable activities. Support costs include back office costs, finance, human resources, payroll and governance costs which support the charity's activities. These costs have been allocated against the expenditure on charitable activities.

ULSTER HOCKEY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 11 -
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office Furniture
20% Straight Line
Fixtures and fittings
20% Straight Line
Computer Equipment
25% Straight Line
Office Construction
10% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication 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 stated at the lower of cost and estimated selling price 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 replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss 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-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial 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 instruments are recognised in the charity's balance sheet when the 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 enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

ULSTER HOCKEY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 12 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future 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 constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at 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 the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 not 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 services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate 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 incentives 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 pattern in which economic benefits from the leases asset are consumed.

2
Critical accounting estimates and judgements

In the application of the charity’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 affects both current and future periods.

ULSTER HOCKEY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 13 -
3

Income from Charitable activities

Unrestricted Funds

Restricted Funds

Total
2023

Unrestricted Funds

Restricted Funds

Total
2022
2023
2023
2022
2022
£
£
£
£
£
£
Sponsorship
37,000
-
37,000
14,750
-
14,750
Affiliation Fees (Ulster Hockey & Irish Hockey)
118,145
84,360
202,505
73,718
-
73,718
Gate Receipts
39,700
-
39,700
26,232
-
26,232
Grants receivable (detailed breakdown below)
6,824
216,643
223,467
-
186,240
186,240
DOF Covid 19 Small Business Grant
-
-
-
5,000
-
5,000
Development Programme Income
186,471
-
186,471
191,288
-
191,288
Umpires Income
3,022
-
3,022
1,677
-
1,677
391,162
301,003
692,165
312,665
186,240
498,905
Performance related grants
Sporting Clubs Programme
-
139,916
139,916
-
131,026
131,026
Antrim & Newtownabbey Borough Council
-
-
-
-
3,572
3,572
Mid Ulster Strategic Sports Grant
-
8,500
8,500
-
17,000
17,000
Goods Relations
-
35,374
35,374
-
34,642
34,642
The Rank Foundation
-
25,419
25,419
-
-
-
Hockey Ireland
6,824
-
6,824
-
-
-
Department of Foreign Affairs: Reconciliation Fund. For the Cross-border Stick and Ball Good Relations Programme
-
7,434
7,434
-
-
-
Grants receivable
6,824
216,643
223,467
-
186,240
186,240
ULSTER HOCKEY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 14 -
4
Other trading activities
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£

Non-charitable trading activities

9,505
902
5
Investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
626
11
ULSTER HOCKEY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 15 -
6

Expenditure on charitable activities

Unrestricted Funds

Restricted Funds

Total
2023

Unrestricted Funds

Restricted Funds

Total
2022
2023
2023
2022
2022
£
£
£
£
£
£
Affiliation Fees - Irish Hockey
-
84,360
84,360
-
-
-
Personnel Costs
105,979
174,792
280,771
52,538
164,997
217,535
Development Programme Costs
90,798
32,065
122,863
119,800
21,143
140,943
Office Accomodation
19,219
-
19,219
20,914
-
20,914
Computer & Website Costs
10,011
-
10,011
9,649
-
9,649
Printing, postage and stationery
3,923
-
3,923
2,588
-
2,588
Telephone
8,316
-
8,316
7,706
-
7,706
Legal and professional fees
16,464
7,500
23,964
2,715
-
2,715
Engraving & Trophies
2,721
-
2,721
1,267
100
1,367
Sundry expenses
979
-
979
1,098
-
1,098
Subscriptions
974
-
974
630
-
630
Bank charges
658
-
658
422
-
422
Insurance
15,026
-
15,026
13,798
-
13,798
Advertising & Marketing
18,691
570
19,261
15,145
-
15,145
Travel Expenses
-
-
-
1,998
-
1,998
Schools Costs
4,032
-
4,032
2,592
2,592
Umpires Costs
18,564
856
19,420
21,086
21,086
Sponsorship
2,000
2,000
-
Depreciation
6,932
-
6,932
6,799
-
6,799
Analysed between:
325,287
300,143
625,430
280,745
186,240
466,985
Charitable activities - project costs activities undertaken directly
-
489,731
-
-
362,766
Support costs
135,698
104,219
625,429
466,985
Share of governance costs (see note 7)
4,037
-
4,037
6,000
-
6,000
329,324
300,143
629,466
286,745
186,240
472,985
ULSTER HOCKEY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 16 -
7
Governance costs
Governance costs
2023
£
£
Audit fees
3,059
3,059
Accountancy
978
978
4,037
4,037
Analysed between
Charitable activities
4,037
4,037

Governance costs includes payments to the auditors of £3,059 for audit fees.

8
Net movement in funds
2023
2022
£
£
Net movement in funds is stated after charging/(crediting)
Fees payable to the company's auditor for the audit of the company's financial statements
3,059
4,475
Depreciation of owned tangible fixed assets
6,932
6,799
9
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
26
25
Employment costs
2023
2022
£
£
Wages and salaries
280,771
217,535
There were no employees whose annual remuneration was more than £60,000.
11
Taxation

The charity is exempt from tax 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.

ULSTER HOCKEY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 17 -
12
Tangible fixed assets
Office Furniture
Fixtures and fittings
Computer Equipment
Office Construction
Total
£
£
£
£
£
Cost
As at 1 April 2022
4,233
13,791
22,056
7,224
47,304
Additions
-
-
3,442
-
3,442
At 31 March 2023
4,233
13,791
25,498
7,224
50,746
Depreciation and impairment
As at 1 April 2022
3,131
10,223
10,474
6,681
30,509
Depreciation charged in the year
275
1,076
5,038
543
6,932
At 31 March 2023
3,406
11,299
15,512
7,224
37,441
Carrying amount
At 31 March 2023
827
2,492
9,986
-
13,305
At 31 March 2022
1,102
3,568
11,582
543
16,795
13
Stocks
2023
2022
£
£
Stocks for resale
8,657
8,682
14
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
11,501
8,804
Other debtors
95,544
72,880
107,045
81,684
15
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
HMRC Creditor
3,000
3,000
Grants
16
56,000
-
Charity activity creditors
14,081
13,299
Other creditors
2,582
-
Accruals and deferred income
55,060
46,902
130,723
63,201
ULSTER HOCKEY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 18 -
16
Grants

Deferred income is included in the financial statements as follows:

2023
2022
£
£
Deferred income is included within:
Current liabilities
56,000
-
ULSTER HOCKEY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 19 -
17
Restricted funds
Balance at 1 May 2021
Incoming resources
Resources expended
Transfers
Balance at
1 April 2022
Incoming resources
Resources expended
Transfers
Balance at
31 March 2023
£
£
£
£
£
£
£
£
£
Restricted funds
(18,498)
186,240
(186,240)
5,200
(13,298)
301,003
(300,143)
(1,644)
(14,082)
18
Unrestricted income funds
Balance at 1 May 2021
Incoming resources
Resources expended
Transfers
Balance at
1 April 2022
Incoming resources
Resources expended
Transfers
Balance at
31 March 2023
£
£
£
£
£
£
£
£
£
Unrestricted funds
290,957
313,579
(286,745)
(5,200)
312,591
401,293
(329,324)
1,644
386,204
290,957
313,579
(286,745)
(5,200)
312,591
401,293
(329,324)
1,644
386,204
ULSTER HOCKEY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 20 -
19
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
13,305
-
13,305
16,795
-
16,795
Current assets/(liabilities)
372,899
(14,082)
358,817
295,796
(13,298)
282,498
386,204
(14,082)
372,122
312,591
(13,298)
299,293
20
Analysis of net funds
At 1 April 2022
Financing cash flows
At 31 March 2023
£
£
£
Cash at bank and in hand
255,333
118,505
373,838
21
Capital commitments

The company had no capital commitments as at 31 March 2023.

22
Non-audit service provision

In common with many other charities of our size and nature we use our auditors to assist with the preparation of the financial statements.

23
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

24
Trustees' 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 to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

25
Control

The charity is controlled by the trustees who are all directors of the company.

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