COMPANY REGISTRATION NUMBER: N1036168 CHARITY REGISTRATION NUMBER: NIC0100277 Forward South Partnership Company Limited by Guarantee Financial Statements 31 March 2024 Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower g James Street South Belfast BT2 8DN
Forward South Partnership Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the director's report) Independent auditor's report to the members 14 Statement of financial activities (including income and expenditure account) 20 Statement of financial position 21 Statement of cash flows 22 Notes to the financial statements 23
Forward South Partnership Company Limited by Guarantse Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The trustees, who are also the directors for Ihe purposes of company law, present their report and the financial statements of the charily for the year ended 31 March 2024.
Forward South Partnership Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2024 Reference and administrative details Registered charity name Forward South Partnership Charity registration number NIC0100277 Company registration number N1036168 Principal office and registered 23 University Street office Belfast BT71FY The trustees M Murray R Finnegan S Reid P McNeill M Graham J Henderson T Brooks H Crickard (Resigned 6 December 2023) (Appointed 4 September 2023) (Served from 4 September 2023 to 2 September 2024) G McAteer H Carey G McKeown T Kelly S Bunting J Gormley R Rankin J Poots S Jamison N Brennan C Artulura C Shaw (Resigned 4 September 2023) (Resigned 4 September 2023) (Resigned 6 December 20231 (Appointed 6 December 2023) (Appointed 6 December 2023) (Appointed 6 December 2023) (Appointed 6 December 2023) Company secretary Joy Poots Auditor Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Bankers Bank of Ireland 1 Donegall Square South Belfast BT15LR
Forward South Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontinued) Year ended 31 March 2024 Solicitors Worthingtons Solictors 24-38 Gordon Street Belfast BT12LG
Forward South Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continuedj Year ended 31 March 2024 Structure, governance and management The Trustees present their report and the financial slatements for the year ended 31 March 2024. The trustees, who are also directors of Forward South Partnership for the purposes of company law and who served during the year and up to the date of this report are set out on page 2. Business Puose Forward South Partnership aims to strengthen and better target. efforts by the community, the private and public sectors through soft power to coordinate and drive the 4 pillars of regeneration social, community. physical and economic to attracl, persuade and influence, ensuring that South Belfast is an attractive place to live. work. visit and invest. A Board of Directors provides the strategic direction to the Partnership's regeneration activities. Vlsion Our vision is to have a strong and sustainable community infrastructure which Contributes to a healthy, inclusive, connected, and prosperous South Belfast. Core values The core value of the Partnership guides the strategic and operational activities. The values reflect the principle which informs how it prioritises issues, sets its aims and delivers its programme of work. Our values reflect our commitmenl to a communrty development approach.. Community Empowerment We believe our role is to support and enable others to make a difference in their own areas. Collective Action We believe that there is power in groups and individuals coming together to advocate for change on areas of shared concern. Working and Learning Together We believe that by facilitating collaboration and sharing of expertise we can make a significant contribution to effectiveness of the community infrastructure of South Belfast. Social Justice We believe that there should be fair and equilable access to resources and services for all residents of South Belfast. Equality and Anti-discrimination We believe that the diversity of South Belfast is an asset to be supported and lebrated and that inclusion should underpin all that we do. Early Intervention We believe that by taking appropriate action early, we can prevent problems occurring or address them head on when they do and before they get worse. The Forward South Partnership staff comprises: Chief Executive Officer (PT). Operations Manager {PT), Finance Manager (PT), Administration officer (PT}, Urban Regeneration Officer (PT). Strategic Health Development Officer, Community Health Capacity Worker (PT). Holyland Capacity worker (PT) and Roma Hub Coordinator (PT). The Board of Directors is comprised of representatives from the Community and Voluntary Sector, Political repre5enlalion, public agencies, the Private Sector, and social partner interests, providing the strategic direction to the Partnership's regeneration activities.
Forward South Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {eontlnu•dJ Year ended 31 March 2024 Structure, governance and management (contlnued) Governing Document Forward South Partnership is a company limited by guarantee governed by its Memorandum and Articles of Association dated 10th March 1999 (current version updated in 2021). Forward South Partnership is a registered charity wilh the Charity Commission for Northern Ireland. Forward South Partnership is a membership organisation with currently 20 members with 5 consultative observers, each of whom agrees to Gonlribule £1 in the event of the charity winding up. Appointment of trustees The Chairman and the Trustees recruit and select new Trustees as set out in its governing document. New Trustees are recruited on the relevance of their professional skills, and their potential lo be able to make a helpful contribution lo the governance of the charity. The Partnership's recruitment of Board members is built around openness, transparency and democracy, ensuring that all South Belfasl cilizens are represented. As part of the recruitment process they are made aware of a Trustees, legal obligations and good practices under charity and company law, the content of the Memorandum and Articles of Association. the committee and decision making processes, the business plans and recent financial performance of the charity (see induction and training). Tmstee induction and tsBining All new Board Members, serving as Directors or Observers receive guidance from Ihe Chief Executive Officer. Finance & Admit Manager andl or Chairperson along with a comprehensive induction pack including guidance on good practice in charily governance, governing document & sUCOMmIttee terms of reference. minutes of meelings, accounts and other documents to provide the necessary information to Board members in carrying out their duties in accordance with law and good praclice. Arrangements for setting pay and remunerdtion of key managementpersonnel The directors consider the board of directors. who are the charity's trustees, and the senior management team comprising the key management personnel ofthe charity in charge of directing and conlrolling, running and operating the charity on a day to day basis. All directors give of their time freely and no director received remuneration in the year. Details of directors, expenses and related party transactions are disclosed in note 22 lo the accounts. The pay of the senior staff is based on NJC Salary Scales as a guide to appropriate remuneralion for all staff. Pay levels are not currently subject to annual increments or cost of living rises. Oryanisation structure and how charity makes decisions The board of trustees, which can have up to 15 members, administers the charity. The Board normaSly meets at least 5 times per year with an Executive Committee comprising the Chief Executive Officer and Office Bearers. also meeting at least 5 times per year. As part of it5 Structure, the Partnership operates addilional thematic sub-committees Ihat report and recommend lo the Board. covering Economics, Community Support and Slralegic Health, each with written terms of reference. A Chief Executive Officer is appointed by the trustees to manage the day-to-day operations of the charity including management of a staff team. To facilitate effective operations. the Chief Executive has delegated aulhorily. within terms of delegation approved by the trustees, for operational matters including finance. employmenl and direct charitable activilies. Relationships with related parties None of our trustees receive remuneration or other benefit from their work with the charity.
Forward South Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2024 Structure, governance and management (Continued) Risk management The trustees have a risk management strategy which compri5es'. an annual review of the principal risks and uncertainties that the charity faces; the establishment of policies, systems and procedures to mitigate those risks identified in the annual review.. and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. Forward South Partnership current risk register is in place covering 2023-24 and is updated annually. Commenced new strategy framework and 5 year plan for the organisation with QUB Board and community input. In 17-18. FSP reviewed its Board structure as recommended by a strategic review process and as advised by auditors. The outcome was a reduced Board from 24 to 15. Approval to proceed with registration to Companies House for a CIC with appropriate governance.. Placemaking South CIC was registered on 28th September 2017. As part of governance review, all terms of reference for the Community Support Group, Health Forum, Economic Forum. Executive Committee and Board were refreshed and updated. All directors provided with training at Board meeting on Code of Conduct for Trustees. FSP is updating its articles of association as per Charity Commission advice in response to the Covid Pandemic (which began towards the latter end of the financial year March 19) and has resulled on executive and board business along with day-to-day engagement being conducted virtually. In 19-20 Chair instigaled a review and audit of attendance at Board meetings to be published in annual report. A review ofAccess Nl for staff was instigated in context of new business.
Fonmard South Partnership Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) (contlnuedj Year ended 31 March 2024 Objectives and actlvltles The Partnership's overarching strategic objectives have been have been set in response to external changes including:_ The draft Programme for Government with an emphasis on Oulcomes Basèd Accountability. The establishment of Community Planning powers for local government (Belfast Agenda) of which Soulh Belfast Economic, Health and Community Support Group are strategically aligned. The establishment of local area working groups within Belfast City Council. The review of cross government Neighbourhood Renewal Programmes, anti-povety infrastructure and regeneration strategies. The potential for many grant funded programmes to be transferred to a commissioning model through procurement and tendering., and The general drive within the community and voluntary sector to reduce costs, increase collaboration and work more efficiently. The purposes of the charity are'.- 1. Advance community development by providing strategic and practical support to community and voluntary organisations in the area of benefit so as to increase their efficiency and effectiveness and to encourage such organisations to co-operate to achievè their aims. 2. Promote urban regeneration and redevelopment and revitalisation of South Belfast by.. Promoting trade and enterprise for the benefit of the general public., Furthering training and employment opportunities., Developing strategies for physical regeneration, access and improving the quality of life of the inhabitants of the area of benefit., Promoting cultural tourism, recrealion and entertainment; Supporting community-based organisations concerned with housing, community safety and related issues. 3. Promote good physical, mental and emotional health and well-being and facilitate the development of strategies that address health inequalities. 4. Advance the arts, culture and heritage in the area of benefit by assisting in Ihe initiation and development of festivals and other events and programmes and by encouraging community participation in arts and cultural activities. 5. Promote good community relations, religious and racial harmony and equality and diversity. 6. Promote such other charitable purposes as may from time to time be determined. In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefil.
Fonmard South Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2024 Achievements and performance During the 2023-24 period, FSP can report on the following projects and evidence how they meet Ihe aims and objectives and advance furiher purposes.. l. Advance community development by providing strategic and practical support to community and voluntary organisations in the area of benefit so as to increase their efficiency and effectiveness and to encourage such organisations to co-operate to achieve their aims. FSP have continued to work with community and voluntary sector organisations across South Belfasl, along with key statutory partners and private sector bodies, to develop the capacity of the groups & to improve outcomes for all in South Belfast particularly in relation to health and wellbeing, education and physical regeneration 2. Pmmote urban regeneration and redevelopment and revitalisation of South Belfast by." i. Pmmoting trade and enterprise for the benefit of the general public,. ii. Furthering training and employment opportunities," Our STEP programme has continued to provide CPD Iraining for leachers and community educators across South Belfast. Our Roma Hub through PEACE IV funding worked to provide training and employment opportunities for the Roma community. iii. Developing strategies for physical regeneration, access and impmving the quality of life of the inhabitants of the area of benefit,. We have worked with local residents to develop physical regeneration and improved connectedness between communities through our work with QUB Streetspace project and Open Botanic, our work around Shaftesbury Square and work within the Holyland area. . Promoting cultural tourism, recreation, and entertainment In the last year we have worked with local residents on developing art murals wilhin the Holyland area and supported the development of a walking trail around them. We've also developed our Open Botanic festival which encouraged cultural tourisrn & entertainment in the Botsnic area. v. Supporting ¢ommunity-based organisations concerned with housingi community safety and related issues. We have continued to support community-based organisations through our Community Support Group to help build capacity around housing and other issues affecling them. We've also supported Holyland residenls around ongoing community safety concerns, developing neighbourhood Q&A sessions lo provide a forum for issues to be addressed with slatutory agencies. 3. Pmmote good physical, mental and emotional heafth and well-being and facilitate the development of strategies that address health inequalities. Forward South Partnership continues to deliver a range of health and wellbeing initiatives across South Belfast including coordination of South Belfast Dementia Friendly. Community Response Plan and working wilh partners to deliver Soulh Belfast Development Fund. FSP Community Health Capacity Worker continues to coordinate and deliver community capacity building and health and wellbeing programmes including Older and Active. Dementia Carers Café and supporting a range of community groups.
Forward South Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (eontlnued) Year ended 31 March 2024 4. Advance the arts, cultural and heritage in the area of benefit by assisting in the initiation and development of festivals and other events and programmes and by encouraging community participation in arts and cultural activities. 2023 saw our second Open Botanic Festival taking place in September, bringing communities together to re-imagine their shared spacè. The festival showcased Bolanic Avenue as a place that is fully accessible to pedestrians and cyclists. The festival included live music and workshops as well as food, health. and community stalls. We worked with 6 local community groups in the lead up to the festival to design and creale their own kiosk for the festival. Over 2000 people attended, despite the aftermath of of Hurricane Nigel gracing us with its presence for the afternoonl The Holyland Winter festival was developed further in 2023 to encourage greater community involvement and ownership of the festival. including a Dong Zhi celebration with the Chinese Welfare Association, a carol service & community BBQ with Filzroy Presbyterian Church and a sorcova making workshop with the Roma Women's Group 5. Pmmote good community relations, religious and racial harmony and equality and diversity. The Partnership has continued to èngage with our community partners and slatulory authorities to build collaborative relationships to address needs within South Belfasl. Promoling good relations is intrinsic to our organisation and all aspects of our work. Our Roma Support Hub provides support and outreach to one of Ihe mosl marginalised groups in Nl and works to build the capacity and confidence of the community and the relationship they have with neighbouring communities. Our STEP programme works to to ensure children and young people have the best possible slart in lrfe and Ihat they live in a society in which equality of opportunity and good relations are promoted. 6. Promote such other charitable purposes as may from time to time be deterniined. In the last year Forward South Partnership has responded lo emerging needs in the community around the cosl of living crisis. providing support & administering various funding and programmes to tackle food and fuel poverly. Year In Review Forward South Partnership has had an incredibly busy year in 2023124. Our business as usual activity continued at pace, while also undergoing some critical pieces of work to strengthen and develop as an organisation for the future. The feasibility study into the creation of a new workspace for the Partnership and a 'common hub. was completed and work began to find a suitable location where our ambitions within the feasibility study could be realised. Thanks to funding from the National Lottery Dormant Accounts Fund, we ernbarked on a comprehensive process to develop a new Strategic Plan to guide our work for the next five years, as well as ensuring our policies and procedures and digital tools were up-lo-date. By the end of the year. our new Strategic Plan. informed by the communities of South Belfast, was ready to be signed off. Our Community Support Group ICSG) was also up for renewal this year so in the Autumn of 2023 we sought nominations from groups and organisalions right across South Belfast and we were delighted to welcome 22 members onto the refreshed CSG in November. They represent the diversity of South Belfast and five members were then nominated onto our Board a5 Community Directors. We want lo thank Anne Mcvicker, the Director of WRDA, for overseeing this process for us.
Forward South Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2024 Open Bolanic and the Street Space project, in conjunction with Queen's University Belfast. was further developed in 2023 working with residents from Donegall Pass. the Holyland, Sandy Row, Friends of the Field and Anaka Women's Collective lo examine their experiences of and ideas for their local areas and to design and create community kiosks Ihal were showcased at the Open Botanic street festival on 22nd September 2023. The festival itself brought people out onto the main thoroughfare of Botanic Avenue, to reimagine it just for an afternoon as a space to bring people together over food, music and active travel opportunities. Despite the afternoon taking a very wet turn, over 2000 people enjoyed Ihe festivities. Our Roma Support Hub has conlinued to provide an invaluable frontline service to the Roma community across Belfast, with welfare advice and EUSS support, English language classes. the women's group participating in workshops and cultural activities and being at the fore of bolh our Winter Festival and Open Botanic. Our Seamless Transition Through Education Programme is well-established and continued at pace this year. Forward South Partnership is the lead partner for STEP, which is funded through the Department of Education WRAP Programme. Our STEP partner organisalions are Sure Start, solas, BSCR and Barnardos. STEP interventions supporl vulnerable and at-risk children, young people. parents, and families from pre-birth through to Post-Primary School,. including children with additional needs and their families. Our programmes focus on the importance of emotional wellbeing, which in turn impacts positively on addressing educational underachievement, and community cohesion. STEP 15 an example of FSP acting as a backbone organisation to SUPPOrt collaborative and cooperative practices between community and voluntary organisations. FSP continued to support Community Groups in the Holyland area. The Holyland Capacity worker has worked alongside the BCC Strategic Intervention worker in the area and has delivered a number of seasonal events with the local community & continued the Community Q&A sessions with statutory bodies. Highlights in the year were the Winter Festival that showcased the cullural diversity of the area and brought some festive cheer lo local residents. A community audil was also iniliated lo compile a Holyland community profile that mapped out the populations and organisations in the area and audiled their strengths to ascertain Ihe personal and organisational aspirations in the area. This audit will now shape the work of the Holyland Community Capacity Worker going forward. identifying a number of potential community development projects lo help improve the capacity of the community and create a more positive environment in the area. Unfortunately the cost of living crisis continued inlo this financial year and Foard South Partnership played a key role in ensuring that emergency funding support got to Ihose in need in the communily. Our socia5 supermarket scheme delivered community meals and food support with wraparound Servi5, alongside a number of community organisalions. churches and schools in the area. We provided a targeled Warm & well scheme to Over 55s in South Belfast, Winter Pressures funding support and the StrategiG Health Officer created a cost of living guide book to provide advice and help to be distributed by our partner community organisations, as well as coordinating the South Belfast National Energy Action Project, delivering targeted winler support in areas with highest levels of fuel poverty. 10
Fonmard South Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {conlinued) Year ended 31 March 2024 The Health and Wellbeing Work continues to grow with our Community Health Capacity programme delivering and supporting a number of programmes in partnership wilh community groups, statutory agencies and C&V Organisations such as Belvoir Older & Active, Taughmonagh Tea Dance, Dementia Friendly Carers Café and supporting a range of local groups with Iheir health needs. Our Strategic Health and Wellbeing Officer programme is well-established with leading the coordination of the Winter Plan and PHA Project lo support those must vulnerable in the winter months supporting and building capacity of local groups to deliver winter support initialives. Additionally. leading in South Belfast Dementia Friendly initiative, South Belfast Community Response Plan, South Belfast Social Supermarket, Take 5 Projects and coordinating suicide prevention I mental health trainings The Strategic Health & Community Health Programmes highlights the importance of tackling health inequalities and positively working collaboratively with local partners to deliver many initiatives. Foard South Partnership made significant progress in 202314 towards building a more sustainable organisation that is able to meet the needs of the communities in South Belfast that we represent and we look forward to moving in to 202415 with a new Strategic Plan and a clear ambition for what we need to deliver a healthy, inclusive, connected, and prosperous South Belfasl. Financial review ReseThes policy and golng concern Reserves are needed to bridge the timing gap beeen spending and receiving of income and to cover unplanned temporary shortfalls in income should they arise. Holding adequale reserves safeguards the provision of our services in the evenl of unexpected significant financial pressures. The trustees consider that the ideal level of reserves would be belween three to six months expenditure which for the year ended 31 March 2024 would be between £94,449 and £188,898. Unreslricted reserves freely available to spend. therefore excluding fixed assets. restricted reserves and designated reserves amounted to £116.829 which the trustees believe represents a sufficient level of reserve to ensure that the going concern assumption is appropriate. £72,004 of unrestricted reserves is ring-fenced to cover costs in Ihe event of closure. covering the cost of redundancy payments at 31.03.24. buy out of supplier contracts. insolvency and solicitor fees and final audit fees. 11
Forward South Partnership Company Limited by Guarantse Trustees. Annual Report (Incorporating the Director's Report) (eontinued) Year ended 31 March 2024 Plans for future periods Forward Soulh Partnership is an independent charity working lo regenerate and 5UStain a healthy. happy and prosperous South Belfast. In doing so. FSP wishes to contribute to wider population outcomes by creating and sustsin the conditions in which collaborative working and collective impact can happen. FSP normally has an enabling role, supporting Coordinated work by local partners. Our future plans which are based on our governing documents, our public benefit statement and team deliberalion has identified 8 core outcomes which are considered to be conditions of wellbeing for everyone in the communities FSP serves. The 3 strategic priorities are.. Collaboration, Good Relalions. Connectivity Flowing from these strategic priorities. FSP will measure the impacl of our work with key priorilies in the following areas.. Collaboration - oulcome.. an effective infrastructure for collective impact Community development- outcome.. connecled, proactive and powerful communities Economic development- outcome: a real income option in a sustainable economy Physical development- outcome.. a good environment for happy neighbourhoods Good relations and community safety- outcome: harmonious, safe and diverse communities Arts. culture and heritage - outcome= cultural expression and participalion for all Education, potential- outcome: all young people have options Health - outcome.. healthy people and helpful services Wilhin this- FSP'S core work as a backbone organisation will provide strategic direction, cultivate a culture of collaboration, promole evidence driven action, provide a collective community voice, mobilise resources and engage policy makers. Trustees, responsibilities statement The trustees, who are also directors for the purposes of company law. are responsible for preparing the trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounling Slandards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for Ihat period. 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 applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudent., prepare Ihe financial statements on the going concern basis unless it is inappropriate to presume thal the charity will continue in business. 12
Forward South Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2024 The trustees are responsible for keeping adequate accounling records that are sufficient to show and explain the charity's Iransactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assels of the charity and hence for taking reasonable steps for the prevention and deleclion of fraud and other irregularities. Auditor Each of the persons who is a trustee at the dale of approval of this report confirms that.. so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware., and they have taken all steps that they ought to have taken as a trustee lo make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 4 December 2024 and signed on behalf of the board of trustees by: H Crickard Trustee 13
Forward South Partnership Company Limited by Guarantee Independent Auditor's Report to the Members of Forward South Partnership Year ended 31 March 2024 Opinion We have audited the financial statements of Forward South Partnership {the 'charity') for the year ended 31 March 2024 which comprise the statement of financial activities {including income and expenditure account). statemenl of financial position, statement of cash flows and the relaled notes, including a summary of significanl accounting policies. The financial reporting framework thal 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 Acceptèd Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of ils incoming resources and application of resources, including its income and expenditure, for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- have been prepared in accordance with the requirements of the Companies Acl 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UKI {ISAs (UK)) and applicable law. Our responsibilities under Ihose slandards are further described in Ihe auditor's responsibilities for the audit of the financial Statements section of our report. We are independent of the charity in accordance with the elhical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and the provisions available for small entilies. in the circumstances sel out below, 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. In common with many other business of our size and nature we use our audilors to prepare and submit returns to the tax authorities and assist wilh Ihe preparation of the financial statements. Conclusions relating to going concern In auditing the financial statements. we have concluded that the trustees, use of the going concern ba515 of accounting in the preparation of the financial statemenls is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating lo 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 statement5 are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of Ihis report. 14
Forward South Partnership Company Limited by Guarantee Independent Auditor's Report to the Members of Forward South Partnership (continued) Year ended 31 March 2024 Other infomiation The other information comprises Ihe information included in the annual report, other than the financial statements and our auditorfs report thereon. The truslees are responsible for the other information. Our opinion on the financial statements 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 wilh our audit of the financial statements. our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wilh the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstaled. If wè identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 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 Irustees. report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and ils environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Acl 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 nol visited by us., or the financial statemenls are not in agreement with the accounting records and returns., or certain disclosures of Irustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies. exemptions in preparing the directors, report and from the requirement to prepare a strategic report. 15
Forward South Partnership Company Limited by Guarantee Independent Auditor's Report to the Members of Forward South Partnership (continued) Year ended 31 March 2024 Responsibilities of trustees As explained more fully in the trustees, responsibilities statemenl, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial stalements 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 stalements, the trustees are responsible for assessing Ihe 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 charity or lo cease operations. or have no realistic alternative but lo do so. 16
Forward South Partnership Company Limited by Guarantee Independent Auditor's Report to the Members of Forward South Partnership (continued) Year ended 31 March 2024 Auditorfs responsibilities for the audit of the financial ststements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslatement, 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. bul is not a guarantee that an audit conducted in accordance with ISAS {UK) will alway5 delect a malerial misstatement when it exists. Misslatements 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 Ihese financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line wilh our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of delecting irregularities, including fraud is detailed below: In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following.. the nature of the industry and sector, control environment and business performance including the design of the remuneration policies, key drivers for direclors, remuneration, bonus levels and performance largets.. results of our enquiries of management about Iheir own identification and assessment of the risks of irregularities-, any matters we identified having obtained and reviewed documenlation of their policies and procedures relating to.. identifying, evaluating and complying with laws and regulations and whether management were aware of any instances of non-compliance., detecting and responding lo the risks of fraud and whelher management 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. the matters discussed among the audit engagement team including significant component audit teams and relevant internal specialists, including tax and valuations specialists regarding how and where fraud mighl occur in the financial statements and any potential indicator5 of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potenlial for fraud. In common with all audits under ISAS (UK). we are also required to perform spectfic procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks in operation, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosure5 in the financial statements. The key laws and regulations we considered in this Context included ongoing compliance with the UK Companies Act and tax legislation. In addition. we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but cornpliance with which may be fundamental for their ability to operate or to avoid a material penalty. 17
Forward South Partnership Company Limited by Guarantee Independent Auditor's Report to the Members of Forward South Partnership {continuedJ Year ended 31 March 2024 As part of an audit in accordance wilh ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misslatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence Ihat is sufficient and appropriale 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 involve collusion, forgery, intentional omissions, misrepresentations. or the override of internal control. Obtain an understanding of internal control relevant to the audit in order lo 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 reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of acwunting 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's ability lo continue as a going concern. If we conclude Ihal a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in Ihe financial statements or, if such disclosures are inadequate. to modify our opinion. Our conclusions are based on Ihe audit evidence obtained up to the date of our auditor's report. However. future 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 transaclions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding. among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 18
Forward South Partnership Company Limited by Guarantee Independent Auditor's Report to the Members of Forward South Partnership (continued) Year ended 31 March 2024 As explained more fully in the Trustees, Responsibilities Statement (set out on page 12), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK). Those standards require us to comply with the Financial Reporting Council's (FRC'S) Ethical Standard for Auditors,, in the circumstsnces set out in note 23 to the financial statements. 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 accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. Conor Dolan FCA (Senior Statutory Auditor) For and on behalf of Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN 4 December 2024 19
Forward South Partnership Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds 2023 Unrestricted ftjnds Total funds Note Income and endowments Charitable activities 20,238 820,041 840,279 806,710 Total income 20,238 820,041 840,279 806,710 Expenditure Expenditure on charitable activities Total expenditure 76,634 697,180 773,814 788,210 76,634 697,180 773,814 788,210 Net income (56,396) 122,861 66,465 18,500 Transfers beleen funds 119,355 (119,355) Net movement in funds 62,959 3,506 66,465 18,500 Reconciliation of funds Total funds brought folward Total funds carried forward 53,870 116,829 40,948 44,454 94,818 161,283 76,318 94,818 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 23 to 37 form part of these financial statements. 20
Forward South Partnership Company Limited by Guarantee ststement of Financial Position 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets 12 1,944 Current assets Deblors Cash at bank and in hand 13 129.441 116,933 155,395 40.363 246,374 195,758 Creditors: amounts falling due withln one year Net current assets 14 85,091 102,884 161,283 92.874 Total assets less current liabilities 161,283 94,818 Net assets 161.283 94,818 Funds of the charity Restricted funds Unrestricted funds 44,454 116,829 40.948 53,870 Total charity funds 16 161,283 94,818 These financial slatemenls have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial stalements were approved by the board of trustees and authorised for issue on 4 December 2024, and are signed on behalf of Ihe board by.. H Crickard Trustee The notes on pages 23 to 37 form part of thes¢ financial statements. 21
Forward South Partnership Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operating activities Net income 66,465 18,500 Adjustments for." Depreciation of tangible fixed assets Interest payable and similar charges Accrued expenses 1.944 4,038 690 2,015 206 Changes in." Trade and other deblors Trade and other creditors 25,954 (18,483) 80.608 (38,695) 3,228 Cash generated from operations (14,746) Interest paid Net cash froml(u5ed in) operating activities (4.038) 76.570 (206) (14,952) Cash flows from investing activities Purchase of tangible assets Net cash used in investing activities {566) (566) Net in¢reasel(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 76,570 40.363 {15,518) 55,881 116,933 40.363 The notes on pages 23 to 37 form part of these financial statements. 22
Forward South Partnership Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered Charity in Northern Ireland. The address of the registered office is 23 University Slreel. Belfast, BT7 1 FY. Statement of tompliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Slandard 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 Charities Act (Northern Ireland) 2008. Forward South Partnership meets the definition of a public benefit entity under FRS 102. Accounting policies Basis of preparation The financial statements have been prepared on Ihe 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 statement5 are prepared in sterling. which is Ihe functional currency of the entity. Going concern There are no material uncertainties about the charity's ability lo continue. Judgements and key sources of estimation uncertainty The preparalion 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 future events Ihat are believed to be reasonable under the circumstances. Income tsx The Charity's activities fall within the exempiions afforded by the provisions of the Irbcome and Corporation Taxes Act 1988. Accordingly, there is no taxalion charge in these accounts. 23
Forward South Partnership Company Limited by Guarantee Notes to the Financial Statements fcontinued) Year ended 31 March 2024 Accounting policies feontlnued) 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. Restricled funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of Iwo 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 eslimated 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 wilh the delivery of the conlracted service. This is classified as unrestricted funds unless there is a contractual requiremenl for it lo be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 24
Forward South Partnership Company Limited by Guarantse Notes to the Financial Ststsments (continued) Year ended 31 March 2024 Accounting policies (continued) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannol be fully recovered, and is classified under headings of the stalement of financial activities to which il relates.. expenditure on raising funds includes the costs of all fundraising aclivities, evènts, 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 ils 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 réflecting the use of the resour. Direct costs attributable to a single activity are allocated directly to thal activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried al revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulaled 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 il reverses a charge for impairment that has previously been recognised as expenditure wrthin the statement of financial activities. A decrease in the carrying amount of an assel as a result of revaluation, is recognised in other recognised gains and losses, except to which il offsets any previous revaluation gain. in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an assel, less its residual value. over the useful economic life of that asset as follows.- Equipment 25 % straight line Impaimient of fixed assets A review for indicators of impairment is carried out at each reporting date. with the recoverable amount being estimated where such indicalor5 exist. Vvhere the carrying value exceeds the recoverable amount, Ihe asset is impaired a¢cordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 25
Forward South Partnership Company Limitsd by Guarantee Notes to the Financial Ststements (conlinued) Year ended 31 March 2024 Accounting policies (contlnued) Impaimient of fixed assets {contlnuedJ For the purposes of impairment testing, when it is not possible to estimate the recoverable amounl 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 unil is the smallest identifiable group of assets thal includes the asset and generates cash inflows that largely independent of the Cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units thal are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to Ihose units. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrumenl. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assels and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and nol discounted. Debt in5trument5 are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otheTWiSe be measured reliably, the inveslment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All olher such investments are subsequently measured at cost less impairment. Other financial instruments. including derivatives, are initially recognised at fair value. unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rale of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities. wilh the exception of hedging instruments in a designated hedging relalionship. Financial assets that are measured at Gost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If Ihere is objective evidence of impairment. an impairment Ioss 15 recognised under the appropriate heading in the slatement of financial aclivilies in whioh Ihe initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. other financial assets are either assessed individually or grouped on the basis of similar credil risk characteristics. 26
Forward South Partnership Company Limited by Guarantse Notes to the Financial Statements (contlnuedj Year ended 31 March 2024 Accounting policies (continued) Financial instruments (contlnuedj Any reversals of impairment are recognised immediately, to the exlent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related seNice is provided. Prepaid contributions are recognised as an asset to thè extent that the prepayment will lead to a reduction in future payments or a Cash refund. When contributions are not expected to be settled wholly within 12 monlhs of the end of the reporting dale in which the employees render the related service, the liability Is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Limited by guarantee Each of the members of the company has guaranteed to contribute to the assets of Ihe company in the event of the same being wound up to the extent of £1. 27
Forward South Partnership Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 Charitable activities Unreslricled Funds Restricted Total Funds Funds 2024 Department of Communities.. Belfast Regeneration Directorate Miscellaneous Funding PHA- Communily Capacity Building in Belvoir & Milllown Belfast Cily Coun¢il Belfast City Council Hardship Fund PHA- South Belfast Health Development PHA- Health & Wellbeing OffIr for South Belfast NICVA- TLP Roma OulreaGh Support International Roma Day Department of Education- STEP National Energy Action Open Bolanic PHA Community Response Plan BCC Comunity Festivals Fund Radius Housing Association QUB- Roma Hub BCC- Business Cluster BCC- Making life better together Lollery-dormant accounts BCC- Demention Friend Support PHA Winter Pressure BCC- Holyland Capacity Roma Support Hub CFNI BCC Social Supermarket Fund BHSCT Mental Health BCC Womens Health and Emotional Support Feasibility Study Sure start- Roma Hub BCC Take 5 Other Income 104,689 104,689 48,045 4,922 48,045 4,922 43,876 60.540 43,876 60,540 8,707 250,000 15,878 12.000 4.142 8,740 8,707 250,000 15,878 32,073 4,142 8,740 20,073 1,000 25,000 3,999 37,996 1.000 10,000 31,459 120.053 1.000 25,000 3.999 37.996 1,000 10,000 31,459 120,053 23,620 900 23,620 900 500 2,975 500 2,975 165 165 20.238 820,041 840,279 28
Fonmard South Partnership Company Limitsd by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 Charitable activities (contlnued) Unrestricted Funds Re5trioted Total Funds Funds 2023 Department of Communities= Belfast Regeneration Directorate Miscellaneous Funding PHA- Community Capacity Building in Belvoir & Milllown Belfast City Council Belfast City Council Hardship Fund PHA - South Belfast Health Development PHA- Health & Wellbeing Officer for South Belfast NICVA- TLP Roma Outreach Support International Roma Day Department of Educalion- STEP National Energy Action Open Botani PHA Community Response Plan BCC Comunity Festivals Fund Radius Housing Association QUB- Roma Hub BCC- Business Cluster BCC- Making life better together Lottery-dormant accounts BCC- Demenlion Friend Support PHA Winter Pressure BCC- Holyland Capacity Roma Support Hub CFNI BCC Social Supermarket Fund BHSCT Mental Health BCC Womens Health and Emotional Support Feasibility Study Sure start- Roma Hub BCC Take 5 Other Income 104,155 104.155 2,000 2,000 45,717 4,838 62.915 42,376 58.078 45,717 4.838 62.915 42,376 58,078 12,225 12,225 240,954 240,954 2,376 10.500 5.000 5,902 12,876 5,000 5.902 5.000 5,000 10.000 29.842 131,719 5,000 9,236 904 2,974 14,999 10,000 29.842 131.719 5.000 9.236 904 2.974 14,999 21.601 785,109 806,710 29
Fonmard South Partnership Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Totsl Funds Funds 2024 Regeneration promotion Support costs 68.830 7,804 641.650 55.530 710,480 63,334 76,634 697.180 773,814 Unrestricted Funds Restricted Total Funds Funds 2023 Regeneration promotion Support costs 64,781 11,140 639,600 72,689 704,381 83.829 75,921 712,289 788.210 Expenditure on charitsble activities by activity type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Regeneration promotion Governance costs 710.480 16,710 46.624 727.190 46,624 721,224 66,986 710,480 63,334 773,814 788.210 Analysis of support costs Analysis of Support Costs Total 2024 Total 2023 Staff costs Premises Communications and IT General office Governance costs Legal and other professional fees Accountancy Fees 7.804 2,451 4,237 2,218 227 37,487 8,910 7,804 2.451 4,237 2,218 227 37.487 8,910 6,938 2,184 3,793 3.928 206 59,600 7,180 63,334 63,334 83.829 30
Forward South Partnership Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 March 2024 Net income Net income is stated after chargingl(crediting)'. 2024 2023 Depreciation of tangible fixed assets Fees payable for the audit of the financial ststements 1,944 3,939 2,015 3,523 10. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows-. 2024 2023 Wages and salaries Social security costs Employer contributions to pension plans 217,343 14,028 17,772 221,493 15,430 17,135 249,143 254,058 The average head count of employees during Ihe year was 9 (2023.. 9). No employee received employee benefits of more than £60,000 during the year (2023.. Nil). Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning. directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £52.556 {2023.'£54.695). 11. Trustse remuneration and expenses The charity trustees were not paid or received any other benefits from employment with the Charity in the year (2023=£0). They were not reimbursed for any travel expenses during the year {2023= £0). No charity trustee received payment for professional or other SeiceS supplied to Ihe charity. (2023.. £0). 31
Forward South Partnership Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 12. Tangible fixed assets Equipment Cost At 1 April 2023 and 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 61,522 59.578 1,944 61,522 Carrying amount At 31 March 2024 At 31 March 2023 1,944 13. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 37,557 3.192 88.692 66.320 2,562 86,513 129,441 155,395 14. Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income Social security and other taxes Other creditors 14,183 7.620 5,745 57,543 25,014 6,930 11.761 59.179 85.091 102,884 15. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined ontribution plans was £17,772 (2023: £17,135). 32
Forward South Partnership Company Limited by Guarantse Notes to the Financial Statements (continuedj Year ended 31 March 2024 16. Analysis of charitable funds Unrestricted fund5 At 31 March 202 At 1 April 2023 Income Expendilure Transfers Board- Unrestricted 53,870 20,238 (76,634) 119,355 116,829 At 31 March 202 At 1 April 2022 Income Expenditure Transfers Board- Unrestricted 69,170 21,601 (75,921) 39,020 53,870 Restricted funds At 31 March 202 At 1 April 2023 Income Expendilure Transfers PHA Belvoir PHA Health Development BHSCT-_Mental Health BCC-Take 5 PHA- Community Response Plan PHA- Small Grants BCC-Demenilion Friend Support Lottery-Dormant Accounts BCC-Making life better together Dept of Education- STEP BCC- Covid DfC- BRD Lottery- Digital Youth PHA Strategic Heallh BCC-Business Cluster QUB-Roma Hub National Energy Action BHSCT BCC- Other BCC-Roma Outieach Support International Roma Day 5,004 48,045 (31.805) (19,894) 1,350 589 43,876 900 2,975 (39,259) (900) (2,9751 (5.206) 1,162 25 4,142 (2,1021 (25) (3.202) 1,000 (177) 823 37,996 (7.330) 30,666 3,999 (1,000) (2,999) 250.000 (244.259) (458) (85,688) (5,741) 458 104,689 (19,001) (8,179) (18.664) 8.179 2,146 60,540 25.000 1,000 15,878 (44,022} (23.022) (303) {15,160} (247) (239) 1.978 697 (718) 247 239 8,707 (5,632) 3,075 33
Forward South Partnership Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 16. Analysis of charitable funds (¢ontinuedJ Surestart-Roma Hub 500 500 BCC - Holylands Capacity BCC - Covid Recovery ROMA Support Hub BCC- Covid Response Winter Hardship DOJ ARCS Project Open Botanic PHA Winter Pressure BCC- Social Supermarket Support Fund BCC Community Festivals BCC Medium Grant BCC Womens Health and Emotional Support Feasibility Study CFNI 31,459 {28,878) 1192) (88,512) (2,581) 192 14,212 120.053 (40,388) 5,365 6,361 (6,361) 12,000 10,000 (29,269) (9,500) 17,269 (500) 23,620 (21,638) (1,982) 8,740 4,922 (8,332) (4,473) {408) {500) 51 {4) (1.779) (300) (697,180) (119,355) 2,079 40,948 820.041 44.454 At 31 March 202 At 1 April 2022 Income Expenditure Transfers PHA Belvoir PHA Health Development BHSCT-_Mental Heatth BCC-Take 5 PHA- Community Response Plan PHA- Small Grants BCC-Demenition Friend Support Lollery-Dormant Accounts BCC-Making life better together Dept of Education - STEP 3,087 45.717 (30,754) (13.046) 5,004 589 42,376 (38.084) (4,292) 589 5,000 (2.088) (1,750) 1,162 25 25 240,954 (237.636) (3.318) 34
Forward South Partnership Company Limited by Guarantee Notss to the Financial Statements (continued) Year ended 31 March 2024 16. Analysis of charitable funds (continued) BCC- Covid Dfc - BRD Lottery - Digital Youth PHA Strategic Health BCC-Business Cluster QUB-Roma Hub National Energy Action BHSCT BCC - Other BCC-Roma Outreach Support International Roma Day Surestart-Roma Hub 458 458 104,155 {106,929) 2,774 8,179 383 8,179 2,146 58,078 {40.456} (15,859) 38 239 904 (695) 247 239 BCC- Holylands Capacity BCC - Covid Recovery ROMA Support Hub BCC- Covid Response Winter Hardship DOJ ARCS Projecl Open Botanic PHA Winter Pressure BCC- Social Supermarket Support Fund BCC Community Feslivals BCC Medium Grant BCC Wornens Health and Emotional Support Feasibility Study CFNI 29,842 {24,671) (5,171) 192 {8,833) 192 14,212 131,719 (108,674) 2,766 25 62,915 (59,320) (25) (12,435) (9.4531 6,361 10.500 10,000 1,935 (547) 9,236 (8,849) {387) 5,902 4,838 (6.803) (4,787) 901 51 2,974 14,999 5,000 {2,714) (14,995) (2,921) (712.289) (260) 2.079 7,148 785,109 (39,020) 40,948 Transfers have taken place between restricted and unrestricted. as projecls have to contribute towards overheads costs. Furthemore, additional amounts have been transferred from unrestricted to restricted for some. as the restricted money has previously been spent. 35
Forward South Partnership Company Limited by Guarantee Notes to the Financial Statements (¢ontinuedJ Year ended 31 March 2024 17. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Currenl assels Creditors less than 1 year Net assets 130.676 (13,847} 116,829 115,698 (71,244) 44,454 246,374 (85,091) 161,283 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 1,944 71,500 (19,574) 53,870 1,944 124,258 195,758 (83,310) (102,884) 40,948 94,818 18. Taxation The Company is a registered charity. and as such is entitled to tsx exèmptions on income and profits in furtherance of the charity's primary objectives. 19. Going concern The financial statements have been prepared on the going concern basi5 which assumes that the charity will continue in operational existence of the foreseeable fulure. The validity of this assumption depends upon the continued support from the charity's funders. The charity is currently a going concern, however if unsuccessful in securing sufficient core funding, their ability to continue as a going concern may be uncertain. If the charity was unable to continue in operational exislence for the foreseeable future, adjuslmenls would have lo be made to reduce the balance sheet values of asse15 to their recoverable amounts and to provide for the future liabilities that might arise, and to reclassify fixed assels and long term liabilities as currenl assets and current liabilities. The directors believe Ihat it is appropriate for the financial stalements to be prepared on the going concern basis. 20. Analysis of changes in net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand 40,363 76.570 116,933 36
Forward South Partnership Company Limited by Guarantee Notes to the Financial Ststements (contlnuad) Year ended 31 March 2024 21. Contingencies A contingent liability exists to repay grants and Trust monies received should certain conditions not be fulfilled by thè charity. In the opinion of the Trustees, the terms of the Letters of Offers have been. or will be, complied with and no liability is expected. 22. Related parties The Charity had no further related party transactions in the year other than those disclosed in Note 11. 23. Ethical standards In common wilh many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. 37