Short Strand Partnership IA ¢omp8ny Ilm5tod by guarant99, not havlng a 8hare capltaD Annual Report and Unaudited Financial Statements for the financlal year ended 31 January 2024 Quarter Chartered Accountants st Anne'8 House 15 Church Street Cathedral Quarter Belfast BTI 1PG Company Number: N1601974 Charlty Number: 100273
Short strand Partnership IA company Ilmlted by guarant89, not havlng a share c8pltall TRUSTEES. AND OTHER INFORMATION Tru8tee8 Conor Joseph Keenan Paul Mccrory Agn6s McGinley Dessle Mccabe Bem18 Mcconnell Charfty Number In Northern Ireland 100273 Company Reg18tratlon Number N1601974 Reglstered Offlco and Prlnclpal Address 28A Beechfield Street Belfast BT5 4BQ Indepgndent Examlnor Quarter Chartgrgd Accountants st Anne's Hous& 15 Church Street Cathedral Quarter Belfast BT11PG Pilnclpal Bankgrs Ulster Bank Arches Retail Park Connswatsr Link Belfast Antrim BT5 4AF
Short Strand Partnershlp IA eompany Ilmltod by uuaranteg, not havlng a sharo capltall TRUSTEES, ANNUAL REPORT for Ihe financial year ended 31 January 2024 Memorandum of A8soclation whlch established thé objects and powers of th8 company and Is governed under its Artides of Association. Appolntmenl of truslees.. The Chaimian and the Trustees 0Mmend n8w Tru8tee$ as needed. Nw Truste6$ arè rècruited on the relevan ol their skllls, and thelr polenual lo be able lo make a helpful contribution lo the gov9rnanc9 of the charity. As part of this process they are rnade aware of a Trustees, legal obligation8 under charty and company law. the content of tha Memorandum and Arkncles of Association, the declsion making processes, the bu$lness plan and iacenl finan¢ial perfoman¢e of the charity. Once the potential new Trustee has agreed to be considered for appolntment they can be co-opted by the directors until foThal voting by members occuis at the nextAnnual General Meeting. Arrangements for 5etling pay and remungration of key management personnel The dlrector conslders that the board, who are the charSty's trustees, and the senior management team comprlse the key management personnel of the charity in charge of directing and controlling, running and operallng the charTrty on a day to day basis. Al dlrectors give of Iheir lime freely and no director recelved Temuneration In the year. Organisation structure and how charity makes declslon5 Short strand Partnership is governed by the Board. Th8 company 13 managed on a day to day basis by a senior management team as appolnted by the Board. The Board mgel$ blmonthly, and Is appointed by the members at the AGM. A senlor management team m8nages fhe day to day actIveS of the company, and reports on compary perfomiance to all board meetings. Revlew of Actlvltles, A¢hl¢v¢monts and Porformance Supporting of Salnl MattheNVs Housing Assoclatton in the provision of quallly soclal housing. Supporting and deliverlng of prolects lo enhance the environment and create a visual, safe pla¢e in which to Ilv8. Working wllh various agencios on crime pr8vantion and erection of aliey gatès to provide a security for rasidents livlng diuY on the Interfa8. Liaising with devalopers for tha prO$10n of social housing on Slrocco site. Seeking th8 relocation of Translink Bus Depot so that this may be brought back In lo communlty us8 for the purpose of provlsion quality social houslng and a youthlheallhlw8llbelnglsportlleisure facility on this site. Plan$ for future periods The SSP plans continulng the acllvlti88 Outlined above in the forthcomlng years subj6cl to satlsfaclory funding arrangements. Flnanclal Revlew As menlloned abova we, Ilke many organisalions, have been insecure Tegarding our future In tems of strateglc planning. The lack of Governmont D8partments and direolion of what Is avallable ha5 18d to uncertalnty of whet m09t groups can plan ahead for in the future in relaOn to funding. This can Seen In our funding recelved during the year and most Importantly the deficiency of fiJnds of £13,726 al our year end. We hope that in the coming year Dur funding will increase and wo can conunue our work to help the community and lake on more projocts. Flnanclal Results At the end of Ihe financial year the company has assets of £14012023 - £1,638} ?nd Ilabilitse5 of £13,886 (2023 - £13,586). The net liabilities of tha company have increased by £11,778). Trustses The trustees who setved throughout the financial year, except as noted, were a8 follows: ConorJoseph Ke8nan Paul Mccrory Agnes McGinley Dessle Mcca B8rn18 McGonn811 In a¢¢ordance with the Constiluuon, the trustees retire by rotation and. belng eligible, offer thems&lves for re-eledion. Compllance Mrtth Sector-wlde Leglslatlon and Standards The MpanY engages practiVelY with legislation, standards and codes which are developod for the s9clor. Short Strand Partnershlp Subscbe$ t¢ and is compliant with the followlng.. The Companies Act 2006 The Charittes SORP (FRS 102}
Short Straiid P4rlnor¥hip IA ¢oMpaby Ilmliod not hovlng g gIrI copltol) STATEMENT OF TRUSTEES, RESPONSIBILITIES for flnon¢lqlyoar eftdfjd 31 J&nuary 2024 Tho trJJ8te89, who are al80 dlreolors ofshort Irand P4rtllgrtslVp for the purp08e8 of ¢onyany1ow, ¥rg r8spon$lbb lor preporfnu thg IPnanGl4l 61alemenl8 In 8[9cO wlth 4)Wleobla law ond regulBttono. Qomponylgw requlr88 lh8 tru6toos a8 lh8 dlreclora to prepare flnanclal 8lateMenls for 08¢h Itnanclal your, Under thal law t1 INst4e$ hav& 81gCtgd lo preparo th6 nn4nciai olatements In accordancg wlth Unlt9d nd0m Generally Accept¥d Aw¢unllng Pra¢lt Illnll¢d fdngdom Ac*ounllro Sl8r¢dards and ÈpplloBblo18wl Includlng FR8102 Yhe Financlal Roporth 8landqrd ¢ppllcable In th¢ UK ond Raput)It¢ of Irojan. Urydar company law Ihe Inteleoa musl ftol apprové tha thnanc 81 $181gmgntB unlpES Ih8y are 8aU8fled that IITOY glvs R ond faTr ¥1 of the stste Of allatr8 01 thg Company el gltho netln¢omo or expenditsjie otlhg ¢C4nP8ny for that pgdo In prfjporfng th989 nnandol ylobmÈnlo, Ihe Iru8te&g ore r6qulr&d lty. select3ultabl& 8ccounllNJ pollc108 and appty tlem nsISten11Y,. mokeludgèijjents aitcj e8llmytg5 Viul oro rsa80nable and pllenL latg whglher the flnaftclsl gialem¢nl$ havo bèan prapad kn ac¢ordqnGe wlth Ihe r9bYaftl flnanthl Teportlno frmyiork. Idgnufy th080 ¥t8n(lard¥. tha 8ff8¢t and thg r8agorffj for #ny malwknl dÉpartura ffom Iho8e s18T]dards', and propar8 lh8 flnan¢lol gtaWertla on thè uc4n9 wncgm basE5 unleBs 11 b In4KJroprt4te ID pro$wne that lh¢ company wlll ¢DnUnue In opetalbn. Tha Irustaoa ¢onflrM tho1 they hav8 Compl1 wllh IhB thve r8qthroments h propnrlng Ihe flnancl 8tatom•nl A¥ •xplne In nptg 3, et8tgwh8tFter the 8ppll¢8blé In the UX 8nd Ropublbol IrEIRnd FRS 102 ha8 b¢gn followed., Th¢ tW8190S Al8 te4)ortsiblfy for keoplng adequate 8ccounUng tsoord$ that ar8 3ufflol8nl lo show and èxpkln Uio ompany's transacUon8 atrj di8clJsw wllh raasoTroblo 8cm¢y ol any Umè tha ffnanGlo1 poslllon ol il)& rompany an enablé thom io fjn¥uré that Ihe flnandal ¥fatonI4 wmpEy wllh. Thty arb aTso reEponslbf8 for 9afgguardlng the of the Mmpeny and hgn¢o fvf tang rga8onabl8 $18p8 for th8 woventson and delecllon of tsaurf and olher Approved by thé Board offntytsos on 26 August 2024 Blgnwl on Its bohawby; DesBl¢ Mccd rrugtoa
Short Strand Partnership IA company Ilmllgd by guarnntse, not havlng a share capltall STATEMENT OF FINANCIAL ACTIVITIES OnGorporallng an Income and Expendllure Account for thè financlal year ended 31 January 2024 Unrestrlctsd Restrlcted Fundg Funds 2024 2024 Total Unreslrlcled Restricted Funds Funds Funds 2024 2023 2023 Total Funds 2023 Notes Incomlng Resour¢e$ Charitable aotiwties - Grants from govemmenls and other Cowfunders 45,649 45,649 41,329 41,329 Resourc6$ Expended Charilabla 8Ctlvltles Other expenditu 43,799 43,799 3,628 41.797 41,797 1.869 2,628 1,869 Total Resour¢88 Expended 3,628 43,799 47,427 1.869 41,797 43,666 Net Incomlngloutgolng i¢sour¢e8 beforo transfern before oxcgplional Items Exceptional items (3,628) 1.850 (1,778) 11,889) (4681 (2,337) 1,580 1.580 Net Incomingloutgolng resources bgfora transfors after exceptlonal items {3.628) 1,850 (1.7781 (289) {4681 1757) Gros5 Iran8fers b8tseen funds Net movement In funds for tho fln8n¢lal yoar (3,628) 1,850 (1,7781 (2891 (468} 17571 Reconclllauon of funds: Totsl funds beginning of the year 16 112,228) 280 {11.948) 111,9391 748 (11,191) Total fund$ atthe end of the year (15,B561 2,130 113,7261 112.2281 280 111,9481 The Statement of Finandal Acuvltles includes all gains and losses reccgnised in the finanaal year. l income and expenditure relate to conttnuing activities. The notes Dn page5 1110 15 form part ofthe finan¢ial 8talements
Short strand Partnership IA Company Ilmllod by guaranteg, not havlng a Sharè eapitall NOTES TO THE FINANCIAL STATEMENTS for the flnancial year ended 31 January 2024 GENERAL INFORMATION Short Strand Partnership is a Company Ilmiled by guarantee In¢orporated In the United Kingdom. The reglstered office of the company 1$ 26A Be8Ghfi8ld Strè8t, BelfasL BT5 4BQ which is also the principal pla of business of the company. The financlal statements have been presented in Pound (£) which Is also the fvnctional currency of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The foll¢)wing 8¢counting pollcles have been applied consistently in de811ng wllh Item8 whlch are consldered material In relation to the charity'$ finan¢ial statements. Ba$ls of preparatlon The financial statements have been prepared under thg hlstorical cost convenlon, modlfled to indud8 certain items at fair valuo. The financlal statements have been preparad in a¢cordance with Ihe Statement of Recommended practi ISORP) "A¢counting and Reporting by Charities preparing Ihelr accounts In accordance with the Financlal ReporNng Standard applicable in the UK and Republic of Ireland FRS 102.. As pennitted by th& Companles Act 2006, the company has varled the standard fomats in that act for the Statement of Financial Actwities and the Balance Sheet Departures from the standard formats are lo comply wllh the requirement8 of the Charlties SORP and are in compllance wtEh section 4.7. 10.6 and 15.2 of thal SORP. stalgment of compliance The nnan¢lal 8tatements of the company for the financlal year ended 31 Marth 2024 have been prepared on the going ¢on¢em basls and In accordance with the Statement of Recommended PracUce (SORP) Accounting and Repoiting by Charities preparlng thelr account5 in accord8n¢e with the FinancAal Reporting standard applicable in the UK and Republi¢ of Ireland FRS 102" Ca8h Ilow Statement The cornpany has avallgd of th8 exemption in FFIS 102 from the requlrement to produce a cash flow statemenl because It Is classifiad as a small company. Incomlng Resourcgs Voluntary Income or capllal Is Included In the Statement of Financial Activities when the company is legally enltued to it, Its financlal value can be quantified wlh reasonable certalnty and there is rea50n8ble certainty of Ils ulliffiats receipt. Entement lo legacies is considered estsblished when the company has been notified of a dl$trlbutlon to be made by the eXeJ10r$. Income received in advance of due performance under a contract Is accounted for as def8rr8d Income until earned. Grants for acllvltles are recognised as income when th6 related conditions for189al enlltlem8nt hav8 been met All other income is accounted for on an a¢¢ruals ba515. Resour¢os Expended All resources expended are accoLinte(I for on an accruals basis. Charitsble actiwtie$ include costs of $ervice5 and grants. support costs and depreciation on related assets. Costs of genorating funds similarly Include fundralslng advilles. Non-slaff costs not attributed lo one category of actlvity are allocated or appotton&d pro-rata lo the staffing of the relevant servi. Finan, HR, IT and admlnlslrauve staff c05tS are directly altributable to Indtwdual activibes by objectiV8. Governall costs are those assoclated with constitutional and statutory requiremgnts. Tanglblg fixod assets and depreclatlon Tangible fixed assets are stated at C05t or at valuation. less accumulaled depreclation. The charge to depreciation is calculat9d to wrtte off the orlglnal cost or valuatlon of tangible fixed assets, 16s5 their estimated resKlual value, over their expected useful INes as follows.. Fixtures, fittings and equlpment 15Yo Reducing Balance Debtors Debtors are recognised at the setllemant amount due after any dlscount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Incomè recognised by the company from govemment agencies and other Ccpfunders, bul not yet received al year end, is Included In debtors. Ca8h otbankand In hand Cash at bank and in hand comprises cash on deposit at banks requlring less than three months notice of WItrrawa1. 11
continued Short Strand Partnership IA company Ilmlted by guarantee, not havlng a sharg capltall NOTES TO THE FINANCIAL STATEMENTS for the Ilnanclal ygar ended 31 January 2024 ANALYSIS OF SUPPORT COSTS 2024 2023 Depreaalion Wages 8nd Salartes Auditl Indep8ndenl Examination Fee's Support Cost ca18gory 3 18 43,799 1,680 21 41,797 1,560 {1.2921 45N97 42,086 NET INCOIIIING RESOURCES 2024 2023 Net Incomlng Rosour¢o$ are stated after charglngll¢rodltlng): Depredation of tsnglbla assets 18 21 EXCEPTIONAL ITEMS 2024 2023 ExpIlonaI Item: Inler-grouplconnected entities trade ¢redilor8 wiitten oft 1,580 IKrEREST PAYABLE AND SIMILAR CHARGES 2024 2023 On bank loans and overdrafts 1,780 118 10. EMPLOYEES AND REMUNERATION Numbgr of Pmployees The average number of persons employed {including ex8culive trustees) during the finan¢ial year was as followg.. 2024 Number 2023 Number Number of Employees The staff ¢osts compris8'. 2024 2023 Wages and salaries Soc181 security costs 40,766 3,044 38,789 3,008 43,799 41,797 13
¢ontinu8d Short Strand Partnership (A company Ilmlted by guarantee, not havlng a share capltsl) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 January 2024 15. FUNDS 15.1 RECONCILIATION OF MOVEMENT IN FUNDS Unre8trlcted Restrlctod Funds Funds Total Funds At 1 February 2022 Movement during the financial year {11,939) 1289) 748 1468) (11,1911 (7571 At 31 January 2023 Movemanl dung the )Inanclal year {12,228) (3,6281 280 1,850 111,9481 (1.7781 At 31 January 2024 115,856) 2,130 {13,726) 15.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 February 2023 In¢om& Expendlture Trnnsfgrs between funds Balanco 31 Jonuary 2024 Ro$trlctgd funds Deparlment of Communities Unre8trlcted funds Unreslricted 280 45,649 43.799 2.130 112,2281 3.628 {15,856) Total funds 111.9481 45,649 47,427 {13,726) 15.3 ANALYSIS OF NET LIABILITIES BY FUND Flxod assgts - Charlty Use Current assets Currènt liablllues Total Restrlcted tru8t funds 1,985 145 2,130 Unrestrfcted genaral funds 101 12411 (15,716) (15,8561 101 1,744 {15,5711 (13,7261 16. STATUS The company Is Ilmited by guarantse not having a sh8re capital. The liability of the members is limited. Every member of the company undertakes to conlributs to the assets of the company In the event of Its bng wound up while they are members, or wllhln one year thereafter. for tha payment of the debts and liabilities of the company contracted before they ceased to b8 mèmbers. and the costs, charges and expen3es of winding up, and for the adluslmenl of the rights of th8 conlrlbutor8 among themselves, such amount as may be required, not ex¢%eding £ 1. 15
Short strand Partnership IA company Ilmilèd by guarantee, not havlng a share capltal) SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS Operating Slalement lor the financlal year ended 31 January 2024 2024 2023 Income 40,649 47,329 Expenses Wages and salarlas Social se¢urity costs Accountancy Bank charges Depreclalion 40,755 3,044 1,680 160 18 38,789 3,CNJ8 1.560 170 21 45,647 43,54B Flnance Bank inlgrest paid Interest paid on overdue lax 21 1,759 72 46 1,780 118 Ex¢eptlonal Items 1,58Q Net deficlt 11.778) (757) The supplementary infomiation does not form part of the financial 8tatem8nts 17