THE DOCK TITANIC QUARTER (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 28 FEBRUARY 2023 Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Note Income from: Donations and legacies Charitable activities Investments 88.727 600 311 88.727 1,922 329 51,253 17,656 34 1,322 18 Other income 4,317 4,317 Total income 1,340 93,955 95,295 68,943 Expenditure on: Charitable activities 4,113 93,565 97,678 64,104 Total expenditure 4,113 93,565 97,678 64,104 Net {expenditure)lincome Transfers beeen funds 12.773) 12,072) 390 (2.383) 4, 839 16 2,072 Net movement in funds 14,845) 2,462 12,383) 4, 839 Reconciliation of funds". Total funds brought foNard Net movement in funds 5,105 14.845) 12,879 2.462 17,983 {2.383) 13,144 4, 839 Total funds carried forward 260 15.341 15.601 17,983 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 10 to 23 form part of these financial statements. Page 8
THE DOCK TITANIC QUARTER (A company limited by guarantee) REGISTERED NUMBER: N1616637 BALANCE SHEET AS AT 28 FEBRUARY 2023 2023 2022 Note Fixed assets Tangible assets 12 2.614 3,529 2,614 3,529 Current assets Debtors 13 1.346 19,806 7,276 22,473 Cash at bank and in hand 21.152 29, 749 Creditors.. amounts falling due within one year 14 (8.165) (15, 294) Net current assets 12,987 14,455 Total assets less current liabilities 15.601 17,984 Net assets excluding pension asset 15,601 17,984 Total net assets 15.601 17,984 Charity funds Restricted funds Unrestricted funds 16 16 260 15.341 5,105 12,879 Total funds 15,601 17,984 The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Michele Marie Marken Trustee Date: Harold Creeth Miller Trustee 0911112023 The notes on pages 10 to 23 form part of these financial statements. Page 9
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 General infomiation The Dock Titanic Quarter is a private company limited by guarantee and is incorporated and registered in Northern Ireland under Company Registration Number N1616637 and is registered with Northern Ireland Charity Commission under Charity Registration Number 100504. The charitable company's registered office is Dock Cafe, 2A Queen's Road, Belfast, BT3 9DT. The principal activity of the charitable company involves the running of a donation-based cafe in the Titanic Quarter of Belfast, including a team of dedicated volunteers and chaplains from across all church backgrounds. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Dock Titanic Quarter meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Income All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balan of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is reiVed in advan of entitlement of reipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to investrnent income is recognised at the time the investment income is re1Vable. 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of reSoUrs. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page 10
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Accounting policies (continued) 2A Interest receivable Interest on funds held on deposit is induded when re1vable and the amount can be measured reliably by the Company., this is nomally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Tangible fixed assets and depreciation Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, Depreciation is provided on the following basis= Fixtures and fittings 200/0 Straight line 2.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.8 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balan sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as adVand payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finan cost. 2.9 Financial instruments The Company only has financial assets and finanaal liabilities of a kind that qualify as basic financial instnjments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exptIOn of bank loans which are subsequently measured at amortised cost using the effective interest method. Page11
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Accounting policies (continued) 2.10 Pensions The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year. 2.11 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectsves of the Company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordan with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Income from donations and legacies Unrestricted funds 2023 Total funds 2023 Donations 88,727 88,727 Unrestricted funds 2022 Total funds 2022 Donations 51,253 51,253 Income from charitable activities Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Grant income Co-operation Ireland - Safe Retum Fund DI0Se of Down & Dromore Black Santa grant from Belfast Cathedral Board 472 472 600 600 850 850 1,322 600 1,922 Page 12
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Restricted Unrestricted funds funds 2022 2022 Total funds 2022 Grant income Co-operation Ireland - Safe Retum Fund Coronavirus Job Retention Scheme NL Community Fund DI0Se of Down & Dromore Black Santa grant from Belfast Cathedral Board 1,240 1,240 5,366 10,000 600 450 5,366 10,000 600 450 11,240 6,416 17,656 Investment income Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Investment income - interest received 18 311 329 Restricted Unrestricted funds funds 2022 2022 Total funds 2022 Investment income - interest reiVed 28 34 Page 13
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Other incoming resources Unrestricted funds 2023 Total funds 2023 Total funds 2022 Insuran claim 4,317 4,317 Anatysis of expenditure on charitable activities Summary by fund type Restricted Unrestricted funds funds 2023 2023 Total 2023 The advancement of religion 4,113 93,565 97,678 Restricted Unrestricted funds funds 2022 2022 Total 2022 The advanment of religion 3, 585 60,519 64,104 Anatysis of expenditure by activities Activities undertaken directly 2023 Support costs 2023 Total funds 2023 The advanment of religion 85,541 12,137 97.678 Page 14
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Analysis of expenditure by activities (continued) Activities undertaken directly 2022 Support costs 2022 Total funds 2022 The advanment of religion 55, 093 9,011 64,104 Anatysis of direct costs Religious activities 2023 Total funds 2023 Staff costs 36,917 36,433 10,692 558 36,917 36,433 10,692 558 Supplies for the Cafe Building related costs Grant expenditure Telephone and email Insuran 371 371 570 570 85,541 85,541 Religious activities 2022 Total funds 2022 Staff costs Supplies for the Cafe Building related costs Grant expenditure Telephone and email Insuran 25, 206 16,029 9, 383 3,585 340 550 25,206 16,029 9,383 3,585 340 550 55, 093 55,093 Page 15
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Analysis of expenditure by activities (continued) Analysis of support costs Religious activities 2023 Total funds 2023 Supplies for the Cafe Building related costs Professional fees Bank charges and fees Governan costs 1,218 3,678 2,727 1,106 3,408 1,218 3,678 2,727 1,106 3,408 12,137 12,137 Religious activities 2022 Total funds 2022 Supplies for the Cafe Building related costs Professional fees Bank charges and fees Governan costs 752 1,325 2,983 702 752 1,325 2,983 702 3,249 3,249 9,011 9,011 Independent examiner's remuneration 2023 2022 Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts Fees payable to the Company's independent examiner in respect of: All other ServIS not included above 2.490 2,264 1,836 2,247 Page 16
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 10. Staff costs 2023 2022 Wages and salaries Contribution to defined contribution pension schemes 36,246 671 24, 762 445 36,917 25,207 The average number of persons employed by the Company during the year was as follows.. 2023 No. 2022 No. Support staff No employee received remuneration amounting to more than £60,000 in either year. 11. Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2022 - £NIL). During the year ended 28 February 2023, no Trustee expenses have been incurred (2022 - £NIL). Page 17
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 12. Tangible fixed assets Fixtures and fittings Cost or valuation At 1 March 2022 24,550 At 28 February 2023 24,550 Depreciation At 1 March 2022 21,021 915 Charge for the year At 28 February 2023 21,936 Net book value At 28 February 2023 2,614 At 28 Febwary 2022 3,529 13. Debtors 2023 2022 Due within one year Other debtors Prepayments and accrued income 51 1.295 40 7,236 1,346 7,276 Page 18
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 14. Creditors: Amounts falling due within one year 2023 2022 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 5,057 12,389 290 608 115 2.500 2,500 8,165 15,294 15. Financial instruments 2023 2022 Financial assets Financial assets measured at fair value through income and expenditure 19.806 22,473 Financial assets measured at fair value through income and expenditure comprise of cash at bank and cash in hand. Page 19
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 16. Statement of funds Statement of funds - current year Balance at Transfers 28 February inlout 2023 Balance at 1 March 2022 Income Expenditure Unrestricted funds General Funds - all funds 12,879 93.955 (93.565) 2.072 15.341 Restricted funds Restricted Funds- all funds 5,105 14,113) 12,072 260 Total of funds 17,984 95,295 (97,678) 15,601 ststement of funds - prior year Balan at l March 2021 Balance at Transfers 28 February in/out 2022 Income Expenditure Unrestricted funds General Funds - all funds 13,146 57,884 {58, 151) 12,879 Restricted funds Restricted Funds- all funds 11,059 (5, 954) 5,105 Total of funds 13,146 68, 943 (64, 105) 17,984 Page 20
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 17. Summary of funds Summary of funds - current year Balance at Transfers 28 February inlout 2023 Balance at 1 March 2022 Income Expenditure General funds Restricted funds 12,879 5.105 93.955 (93.565) (4,113) 2.072 (2,072) 15,341 260 17,984 95,295 (97,678) 15,601 Summary of funds - prior year Balan at l March 2021 Balance at 28 February 2022 Income Expenditure General funds Restricted funds 13, 146 57,884 11,059 (58,151) (5, 954) 12,879 5,105 13, 146 68, 943 (64, 105) 17,984 Page 21
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 18. Analysis of net assets between funds Analysis of net assets between funds - current year Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 2,614 20,892 (8,165) 2,614 21,152 (8.165) 260 Total 260 15,341 15,601 Anatysis of net assets between funds - prior year Restricted Unrestricfed funds funds 2022 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due within one year 3, 529 24, 644 (15,294J 3,529 29, 749 (15,294J 5, 105 Total 5, 105 12,879 17,984 Page 22
THE DOCK TITANIC QUARTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 19. Pension commitments The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £671 (2022 - £445). Contributions totalling £144 (2022 - £118) were payable to the fund at the balan sheet date and are included in creditors. 20. Related party transactions The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 28 February 2023. 21. Going concem The company's charitable activities, together with the factors likely to affect its future development, performance and position are set out in the Trustee's Report. The Charity meets its day to day working capital requirements through its voluntary income. The current economic conditions create some uncertainty over the levels of funding that will be available for future periods, although the Trustees are of the opinion that the Charity's activities for generating funds will continue to provide adequate funds. The Trustee's have a reasonable expectation that the Charity has adequate resources to continue in operation for the foreseeable future. Accordingly the Trustees continue to adopt the going concern basis in preparing the annual reports and accounts. 22. Controlling party The ultimate controlling party of the Charity is the Board of Trustees. Page 23