COMPANY REGISTRATION NUMBER: N1037440 CHARITY REGISTRATION NUMBER: NIC100193 Northdown Communityworks Company Limited by Guarantee Consolidated Financial Statements 30 June 2023
Northdown Communityworks Company Limited by Guarantee Financial Statements Year ended 30 June 2023 Page Trustees, annual report (incorporating the directorfs report) Independent auditor's report to the members Consolidated Statement of financial activities (including income and expenditure account) Consolidated Statement of financial position 10 Company Statement of financial position Consolidated Statement of cash flows 11 12 Notes to the financial statements 13
Page 1 Northdown Communityworks Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 30 June 2023 The trustees, who are also th'e directors for the purposes of compahy law, Present their report and the financial statements of the charity for the year ended 30 June 2023. Reference and administra'tive details Registered charity name Northdown Cofflmunityworks Charity registration number NIC100193 Company registration numbe'r N1037440 Principal office and registered 3 Glenford Way office Newtownards Co Down BT23 4BX The trustees Mr A Beattie Ms J Bailie Ms E Bell Mr R Bell Mr R Craig Mr J Mcclelland (resigned 21 October 2022) Company secretary Mr R Craig Auditor Johnston Graham Limited Chartered accountants & statutory auditor 2161218 Holywood Road Belfast BT4 1PD Structurei governance and management Northdown Communityworks, which is registered as a charity with the Charity Comrnission for Northem Ireland, was incorporated as a company limited by guarantee in Northern Ireland on 29 November 1999. registration number N137440, with the objective of undertaking charitable activities for the benefit of the inhabitants of Northern Ireland. In the event of the Company being wound up members are required to contribute an amount not exceeding £10 each. The first trustees were appointed by the members. Additional and replacement trustees are appointed by a simple majority resolution of the board or members. Trustees do not have a term of office and are not subject to retirement by rotation or re*lection.
Page 2 Northdown Communityworks Company Limited b'y Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (continued) Year ended 30 June 2023 Objectives and activitie's Th'e objective's of the charity include.. The relief of poverty - Advancement of education Promoting the welfare of the ag'ed Preservation and protection of health through the provision of counselling Provision of facilities in the interests of social welfare In the past year the Trustees of Northdown Communityworks, its staff, volunteers and members have remained committed to developing the work of the charity and ensuring that the objectives of the charity are delivered on. The trustees remain committed lo developing and promoting good governance as this allows us, and the entire team at Northdown Communityworks, our staff, volunteers, and members to deliver activities which meet our objectives. We remained committed to continual development of our poliGies, strategic plans and monitoring reports which are needed to ensure that the standard of the work remains high and any areas for improvement can be properly identified. We have also continued to work with outside professional organisations to deliver appropriate assistance for the members of the community. Staff, volunteers and trustees are trained to ensure skilled services are delivered to members and to the wider community in line with our objectives as a charity. The direct benefits flowing from our purposes throughout the year are varied. They include, but are not limited to, those listed below. We continued to deliver our range of food programmes including providing food to those who are unable to provide food for their families. We continued in our partnership with the South-Eastem Regional College and other local providers to ensure the advancement of education locally. We provided placements for SERC in our kitchen overseen by our professional chef. and in Wear & Share to develop retail training. We provided training for our volunteers and members which facilitated the advancement of education. We continued to deliver a range of drop-in services. These drop ins have included our very successful breakfast drop in, activity-based groups and programmes which have allowed a range of ages, including older people. space to join in community projects which promoted their welfare and provided facilities in the interests of social welfare. We worked in partnership with Community Advice and Ards and North Down Bourgh Council to provide an advi service which meets a range of our objectives. We provided a range of summer clubs and projects for younger people and their families which included a holiday lunch scheme throughout the summer and a range of activities throughout the year. We continued to deliver Wear & Share offering free clothing and household items ensuring that people experiencing povety and crisis could access clothing suitable for their irnmediate needs. We were able to promote the welfare of elderly people by engaging the local community to write cards and provide gifts for them through the 'Silver Santa. scheme. Our social supermarket - Well Fed was launched in conjunction with Ards & North Down Borough Council. This is a pilot scheme to understand how best to meet the needs of our community. Users of the scheme have access to support services, in addition to a fully stocked supemarket. We purchased 3 Glenford Way during the year. Plans are underway for the redevelopment of the building to provide a suitable and comfortable space to continue the projects in the years to come.
Page 3 Northdown Communityworks Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (witlnued) Year ended 30 June 2023 Overall, it was another busy ye2r which developed, and evolved, the activities that the charity provides. The direct benefits floviing frorn these purposes include dUcIng the impact of social deprivation, addressing poverty, providing well-balanced meals, improving educats'onal outcomes, improving the health and quality of life of older people, improving mental health and family relationships and improved physical and mental health outcomes. The charity also owns the entire share capital of Openhouse Enterprises Limited and Northdown Enterprises Limited, both of which are companies registered in Northern Ireland. Strategic report The following sections for achievements and performance and financial review fomi the strategic report of the charity. Achievements and performance The Charity continued to provide oversight to affiliated charities and provide guidance and financial support where appropriate. Northdown Enterprises Limited, one of the Charity's subsidiary undertakings, continued to deliver counselling services and personnel development services including the Independent Counselling Schools Service (ICSS) contract for post-primary schools throughout Northern Ireland for the Education Authority for Northern Ireland. It also provides counselling to approximately 40 primary schools as well as a large number of individual clients. During the year, this company assisted with donations to the parent company to enable it to achieve its charitable objectives. The trustees thank all those involved for their hard work in developing Communityworks. ReseNes Policy The trustees have not set a minimum level of reserves higher than the amount required for its fixed asset investments since all expenditure is currently discretionary. The trustees regularly review the level of reserves held and consider opportunities to apply them in line with. and in furtherance of, its charitable objectives. Financial review Incoming resources for Northdown Communityworks and its subsidiary companies totalled £3.036,712 compared to £2,727,868 for the year to 30 June 2022, with outgoing resour5 of £2.588,018 (£2,300,006 in 2022). At 31 March 2023 the group showed a consolidated net asset position of £2,039,832. Plans for future periods The company plans to achieve sustainable growth in the coming year. They plan to build on the current successes in order that they maintain and de'velop the range of seplices aimed at sepling the local community.
Pago 4 Northdown Communltyworks Company Umlted by Guarantee Trustees. Annual Report (Incorporatlng the Dlrectofs Report) (¢ondnu•dl Year ended 30 June 2023 Trustse8' rn#pon61bllltlo6 statemMt The tNstaes, vtho are also d1CtOrS for the purp08es of company law. ar8 responsible for preparing the trustees, report and the financial statements in accordanc8 with appIlble law arKI United ngdom Accountlng Standards (Unltad Klngdom Gen6rally Accfjpted Accounting Practt¢e). Company law requires th8 chartty"trust86S to prepare Iln8ncial statements for 8ach.year whlch gfvo a truo and fair.view of tho ststo of affalrs of the charitsble company and the InrnI resources and application of resour¢es, induding the income aRd expenditure, for that period. In prepwirw these financial sL8tements. the tsustees are requlred to: select suttabla accountlng pdld8s and then apply them conslstenty", observe the methods and PTinclples.In the 8pplicab18 Charitles SORP; mak6 Judgments and accA)unilng estlmates that are reasonable and prudent; stste whether applicable UK A(unting Stsndards have been followed.. sutie(* to any material departures disclosad and explained In the financial stat8m8nts: prepare th8 ffiTwKial stalemènts on the going conom basis unless it is,inappTopriate' lo presumo that the Charity will contlnue In buslness. Th8 trustees gre responsible for keeping adequate accounting recaxds that are sufficient to show and explain the chwitls transactions and dlsdose wlth reasonable 8ccuraGy at any lime tha financhal posltion of the chaiity and enable them to ensure that the financial slatements compty wlth the Companies Aci 2006. They ar8 atso responsible for safegu8rding the assets of the charity and hence for takin9 reasonable 8t8ps for th8 prevention and detection of traud and other lffegularlti86. Auditor Each of the persons vtho is a trustee at the date of appmval of this report c¥)nfirThts thatr. so lar as they are awar4 there is no ralevant.audil' infomialion of which the chari.$ auditor. Is unaware:.arKI Ihey hav8 taken all steps that th8y ought to have takon as a trustee to makè themsel aware of any relevanl audit infomiation and to 8stablish that tha ¢haritys auditor is wware of that infomwtion. The trustees. annual report and the strategifj report were approved on 26 March 2024 aTrJ signed on behalf of the bcth of tnjstees by: MrA Trnstee
Page S Northdown Communityworks Company Limited by Guarantee Independent Auditorfs Report to the Members of Northdown Communityworks Year ended 30 June 2023 Opinion We have audited the consolidated financial statements of Northdown Cominuniworks (the '¢harity') and its subsidiaries {the "group.) for the year ended 30 June 2023 which comprise the consolidated statement of financial activities (including income and expenditure account), consolidated statement of financial position. company statement of financial position, consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). Sn our opinion the financial statements- give a true and fair view of the state of the charity and the group's affairs as at 30 June 2023 and of its incoming resources and application of resources. including its income and expenditure, ftir the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi", 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 ststements section of our reporL We are independent of the charity in accordance wth 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 eviden 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 trustees, 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 e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Page 6 Northdown Communityworks Company Limited by Guarantee Independent Auditor's Report to the Members of Northdown Communityworks fcontinuedj Year ended 30 June 2023 Other information The other information comprises the information included in th'e annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infomiation. Our opinion on the financial statemen15 does not cover the other information and, except to the extent othetwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial ststements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemine whether there is a material misstatement in the financial ststements or a material misstatement of the other information. If, based on the work w'e have performed. we conclude that there is a material misstatement of this other infomiation, 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 the audit: the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the trustee5' report has been prepared in accordance with applicable legal requirements. Matters on which we are requlred 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 misststements in the trustees, report. We have nothing to report in respect of the following matters in latiOn to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns: 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 trustees, responsibilities statement. the truste'es {who are also the directors for the purposes 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 detemine 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 ststements, the trustees are responsible for assessing the charity and the group's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic altemative but to do so.
Page 7 Northdown Communityworks Company Limited by Guarantse Independent Auditor's Report to the Members of Northdown Communityworks (continued) Year ended 30 June 2023 Auditor's re'sponsibilities for th'e audit of the flnancial state'ments Our objectives a to obtain rea'sonable 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 assuran, 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 re'gulations. 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 prOdureS are capable of detecting irregularities, including fraud is detailed below.. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional Spticisrn throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements. whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtsin audit evidence that is sufficient and appropriate to provide a basis for our opinion, The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error. as fraud may invo5ve collusion, forgery, intentional omissions. misrepresentations, or the override of internal control, Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the Circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonable'ness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees. use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity or the group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditorfs report to the related disclosures in the financial statements or. rf such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, fvture events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements. including the disclosures, and whether the financial statements represent the underlying transaGts'ons and events in a manner that achieves fair presentation.
Page 8 Northdown Communityworks Company Limited by Guarantee Independent Auditor's Report to the Members of Northdown Communityworks (contlnued) Year ended 30 June 2023 We communicate with those charged with governance reg'ar'ding, among other matters, the planned scope and timing of the au(fit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charity'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 charity's members those matters we are required to stste to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not acpt or assume responsibility to anyone other than the charity and the charity's mernbers as a body. for our audit work, for this report, or for the opinions we have formed. Ms E Mulholland (Senior Statutory Auditor) For and on behalf of Johnston Graham Limited Chartered accountants & statutory auditor 2161218 Holywood Road Belfast BT41PD 26 March 2024
Page 9 Northdown Communityworks Company Limited by Guarantee Consolidated Statement of Financial Activities (including income and expenditure accoun't) Year ended 30 June 2023 2023 Restricted funds Totsl funds 2022 Unrestricte'd funds Total funds Note Income and endowments Donations and legacies Other trading activities Investment income 16,911 2,870.861 8,115 140,825 157,736 2,870,861 8,115 3,036,712 31.707 2,723,761 620 Total income 2,895,887 140.825 2,756.088 Expenditure Expenditure on raising funds: Costs of other trading activities Expenditure on charitable activities Taxation 2,328,501 123,506 1,573 2,328,501 257,944 1,573 2,588.018 2,177,936 148,871 1.419 2,328.226 10,11 134,438 Totsl expenditure 2.453,580 134,438 Net income and net movement in funds 442,307 6,387 448.6g4 427.862 Reconciliation of funds Totsl funds brought forward Total funds carried forward 1,588,946 2,192 1,591,138 2.039,832 1.163,276 1.591,138 2,031.253 8,579 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 13 to 21 form part of these financial ststernents.
Pag• 10 Northdown Communityworks Company Limlted by Guaranteg Consolidated Statement of Flnancial Posltlon 30 June 2023 2022 Flxed as8ets Tangible fixed awts 15 Current assets Debtors Cash at bank'and in hand .16 n6,954 1,631.293 2.368,247 821.888 1,352,605 2,174,493 Credltors: amounts.falllng due wlthlry on•'year Not curront assots 17 658.663 1.575.810 Total as86ts10s8 Currant Ilabllltle8 Provlslons 18 Not asset8 2,039,832, 1,591,138 Funds of.Ihe.charlty Restricted fvnds Unrestricted fvnds 2..192 1.588,946 1.591.138 2,03.1.253 19 .2,039.832 Total Gharlty fund8 These financAal statements were approved by the board or trustees and authotised for13sue oh 26 Marth 2024, and are sign8d on behallrf the board by. Mr A Beattie Trustee
Pagè.11 Northdown Communityworks Company Llmftedby Guarantse Company Statement of Flnanclal Posltlon Year ended 30 Jun• 2023 2023 2022 Flxed a's80ts Tangible fixed ots Investmonts 15 322.n4 20.001 20,001 342,775 Current assèts Debto Cash at.bank aftd in hand 58S,822 1.077,897 1.663.719. 563.583. 975.294 Credftorn: amounts falllng duo vAthln ono yèar Net curyonl Sets 17 1.600.896 1,943.671 1.943.671 1,474.105 1500.990 1,500,990 Tolal assets1088 curr•nt.Ilablllll8s Net assets Funds of the ¢hartty Restricted funds Unrestricted fvnds 8.S79 1,935.092 1.943,671 1192. 1,498.798 1,500,990 Total charity fvnds These financial statements. have baen prepared in accordance WAth ts provis appli¢ablo 10 companies subject.to the small (y)mpanies' regime. These finanrial :stst8ments were approved by the board of trustge8 and authoTised for issue on 2& March 2024,. and are signed on behalf of the board by: Mr èatde Trustee
Page 12 Northdown Communityworks Company Limited by Guarantee Consolidated Statement of Cash Flows Year ended 30 June 2023 2023 2022 Cash flows from operating activities Net income 448,694 427,862 Adjustments for Depreciation of tangible fixed assets Other interest receivable and similar income Interest payable and similar charges Taxation Accrued exp"ensesl(income) 12,445 (8,115) 1,292 1,573 4,503 18,663 (620) 1,222 1,419 (3,036) Changes in." Trade and other debtors Trade and other creditors 643,668 {1,028,208) (502,095) 582.044 601,965 {654) Cash generated from operations Interest paid Interest received Tax paid Net cash froml(used in) operating activities {1.292) 8,115 (2,735) 606.053 (1.222) 620 (545) (1,801) Cash flows from investing activities Purchase of tsngible assets Net cash used in investing activities {327,139) {327,139) (14,622) (14,622) Net increaselldecrea'se) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 278,914 1,352,605 1,631,519 {16.423) 1.370,359 1,353,936 The notes on pages 13 to 21 forrii part of these financial state'rnents.
Page 13 Northdown Communityworks Company Limitsd by Guarantee Notes to the Financial Ststements Year ended 30 June 2023 General information The charity is a public benefit entity and a private company limited by guarantee, re'gistered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 3 Glenford Way, Newtownards, Co Down. 8T23 48X. State'ment of ¢ompliance These financial statements have been prepared in compliance with FRS 102, 'The FinanGial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis ot 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- Going concern There aré no material unrtaintieS about the charity's ability to continue. Consolidation The financial ststements consolidate the financial statements of North Down Community Works and its subsidiary undertakings. The parent company has applied the exemption contsined in section 408 of the Companies Act 2006 and had not presented its individual statement of financial activities. Judgements and key sources of estimation uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of fiJture events that are believed to be reasonable under the circumstances. Income tax The taxation expense represents the aggregate amount of current and deferred tsx recognised in the reporting period. Current tax is recognised on taxable income or expenditure for the current and past periods,. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted al the reporting date.
Page 14 Northdown Communityworks Company Limited by Guarantse Notes to the Financial Statements (Conbnued) Year ended 30 June 2023 Accounting policies (¢ontlnuedJ Income tax fcontintse(J) Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieve'd tax losses and other deferred tax assets are recognised to the extent that it is probable that Ihey will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Fund accounting 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 are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes.. restricted income funds or endowment funds. 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 are 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 services 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.
Page 15 Northdown Communityworks Company Limited by Guarantee Notes to the Financial Statsments (continued) Year ended 30 June 2023 Accounting policies (continued) Resources expended Expenditure is recognised on an acGruals 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 charitable 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 resour. Direct costs attributsble to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently ststed at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation. is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it oftsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the ststement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Fixtures and fittings Premises fit out Costs 20Q/o, 25Yts or 33.330/0 Straight line 100/0 Strai9ht line Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Page 16 Northdown Communityworks Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 30 June 2023 Accountin'g policies (continued) Impaimient of fixed ass'ets (contlnued) For the purposes of impairm'ent testing, when it is not possible to estimate th'e recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash intlows from other as'sets or groups of assets. For impairme'nt testing of goodwill. the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Provisions Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the porting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in income or expenditure unless the provision was originally recognised as part of the st of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in the statement of financial activities in the period it arises, and is allocaled to the appropriate expenditure heading. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrurnent. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consKleration expected to be paid or received and not discounted. Debt instwments are subsequently measured at amortised cost. Limited by guarantee The charity does not have a share capital and is limited by guarantee.
Page 17 Northdown Communityworks Company Limited by Guarantee Notes to the Financial Ststements (continuedj Year ended 30 June 2023 Donations and legacies un.'strICt.ed Funds Restricte'd Totsl Funds Funds 2023 Donation's Offerings and donations Grants and other donations 4,043 12,868 16,911 5,132 135,693 9.175 148.561 140,825 157.736 Unrestricted Restricted Total Funds Funds Funds 2022 Donations Offerings and donations Donations - Other 3.688 19.996 23,682 8,025 11,713 19.996 8,025 31,707 Other trading activities Unrestricted Total Funds Unrestricted Totsl Funds Funds 2023 Funds 2022 Northdown Enterprises Ltd 2,870,861 2,870,861 2,723,761 2,723,761 Investment in¢ome Unrestricted Totsl Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest re1vable 8,115 8.115 620 620 Costs of raising donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Costs of raising donations and legacies Donations
Page 18 Northdown Communityworks Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 June 2023 Costs of other trading activities Unrestricted Total Fun'ds Unrestricted Total Funds Funds 2023 Funds 2022 North Down Enterprises Limited 2,328,501 2,328.501 2.177,936 2,177,936 10. Expenditure on charitable activi'ties by fund type Un'restricted Funds Restricted Total Funds Funds 2023 Charitable activities 123,506 134.438 257,944 Unrestricted Funds Restricted Total Funds Funds 2022 Charitable activities 143,038 5.833 148.871 11. Expenditure on charitable activities by activity type Activities undertaken Total funds directly 2023 Totsl fund 2022 Charitable activities 257.944 257,944 148,871 12. Net income Net income is stated after chargingl{crediting): 2023 2022 Depreciation of tangible fixed ass'ets 12,445 18,663 13. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows; 2023 2022 Wages and salaries 2,093,401 1,920,016 The average head count of employees during the year was 135 (2022: 136). No employee received employee benefits of more than £60,000 during the year (2022: Nil).
Page 19 Northdown Communityworks Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 June 2023 14. Trustee remuneration and expenses No remuneration was received by the trustees in respect of their role as trustee. However two of the trustees Ms J Bailie and Mrs E Bell ( up to the date of r'esignation as a twstee ) received remuneration from the group for professional SerlS rendered in these companies in the collective amount of £42,353. 15. Tangible fixed assets Freehold Fixtures and Prernises fit propety fittings out costs Total Cost At 1 July 2022 Additions 105,606 12,139 28,361 133,967 327,139 315,000 At 30 June 2023 315.000 117,745 28,361 461,106 Depreciation At 1 July 2022 Charge for the year At 30 June 2023 89,716 11,027 26.943 1.418 116,659 12,445 100,743 28.361 129,104 Carrying amount At 30 June 2023 315,000 17,002 15,890 332,002 17,308 At 30 June 2022 1,418 Company Land and Fixture's and buildings fittings Totsl Cost At 1 July 2022 Additions 11,953 4,723 16,676 11.953 319,723 315,000 315,000 At 30 June 2023 331,676 Depreciation At 1 July 2022 Charge for the year At 30 June 2023 5,069 3,833 8,902 5.069 3,833 8,902 Carrying amount At 30 June 2023 315,000 7.774 6,884 322,774 6.884 At 30 June 2022
Page 20 Northdown Communityworks Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 June 2023 16. Debtors Group Company 2023 2022 2023 2022 Trade debtors Amounts owed from group undertakings Prepayments and accrued income Other debtors 688,579 791,714 534,774 19,142 31,906 558,734 13.542 34,833 24,624 5.550 4,489 736.954 821,888 585.822 563.583 17. Creditors.. amounts falling due within one year Group Company 2023 2022 2023 2022 Trade creditors Accruals and deferred income Corporation tax Social security and other taxes Other creditors 56,826 25,193 1,563 171,688 403.393 61,294 20,690 2,725 150,720 363,254 31,011 25,196 37,466 20,690 6.616 6.616 658,663 598.683 62.823 64.772 18. Provlsions Deferred tax (note ) At 1 July 2022 Charge against provision 1,980 {226)
Page 21 Northdown Communityworks Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 June 2023 19. Analysls of charitable funds Unrestricted funds At Income Expenditure 30 June 23 At 1 July 22 General funds 1.588,946 2,895,887 (2,453,580) 2,031,253 At 1 July 21 Income Expe'nditure At 30 June 22 General funds 1,163,276 2,719,843 {2,294,173) 1,588,946 Restricted funds At Income Expenditure 30 June 2023 4t 1 July 2022 Restricted Fund 2,192 140,825 {134,438) 8,579 At Income Expenditure 30 June 2022 4t 1 July 2021 RestrTrcted Fund 8,025 (5,833) 2,192 20. Analysis of net assets between funds Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Provisions 332.002 332.002 2,368.247 2,368,247 (658,6631 (658,663) (1,754) (1,754) 2,039,832 2,039,832 Net assets Unrestricted Total Funds Funds 2022 Tangible'fixed assets Current assets Creditors less than 1 year Provisions 17,349 17,349 2.733,182 2.733,182 (1.157,417) (1.157.417) (1,980) (1,980) 1.591,134 1.591,134 Net assets 21. Analysis of changes in net debt At At 1 Jul 2022 Cash flows 30 Jun 2023 Cash at bank and in hand 1.352,605 278,688 1.631,293