LOWER OLDPARK COMMUNifi ASSOCIATION Statèment of Financial Activities (incorporating an income and oxpenditure account) For the year end8d 31 March 2023 Total Funds 2Q23 Total Funds 2022 Not Restricted UnTestricted Income and endowments from: Donations and legacios 6.716 5,825 12.541 47.090 Charitable Activitiès 232,818 29.985 262,803 249,178 Othor Trading Activities 18.351 18.351 24,718 Invostment Incomé 88 88 Total Income and andoYKnents 239.534 54.249 293.783 320,988 Expenditure on: Charitable Activities (242.251) { 74,499) 1316,750) (319.3111 Total Expenditure 1242.2511 (74499) { 316,750) (319.311) Net income l {expenditure) for thè year 2,717 20.250 22.967 1.677 Transfers been funds 1,110 (1,110) Net movement in funds (1.6071 121,360) (22,967} 1.677 Reconciliation of funds: Total Funds Brought FopNard 14115 24.892 96,523 121,215 119,538 Total Funds Carried FoTward 14115 23,085 75.163 98.248 121.215 All income derives from ¢onlinuing actNili8s, therefore no stalem8nt of reognised gain5 or losses 15 given. The notes on pages 19 to 27 form part of thos8 financlal statem8nts. 17
LOWER OLDPARK COMMUNiff ASSOCIATION Balance Sheet as at 31 March 2023 Note 2023 2022 Fixed As$?ts Tangible ass81s 11 32.657 43.565 Current Assets Debtors Cash at bank and in hand 12 500 66,331 66,831 78.890 78,890 Creditors: amounts falling duo within one year 13 { 1.2401 { 1,240) NETCURRENT ASSETS 65.591 77,650 NET ASSETS 98.248 121,215 Represented by: Unrestricted Funds Rostricled Funds 14 15 75,163 23.085 96,523 24.692 98,248 121,215 The company is enlill8d to the exemption from the audit requirement contained in section 477 of the Companies Act 2006. for the year ended 31 March 2023. The directors acknowledge their responsibilitie5 for 8nsuring Ihst the Charity keops accounting records which comply with sgction 38fj of the Act and for preparing financial statements which give 8 true and fair view of the slate of affairs ol the company as at the end of the financi81 year and of its incoming resources and application of resources. including ils income and exponditure. for the financial y88r in accordance with the requirements of sections 394 and 395 and which otherwise comply with Ihe quirementS of thè Companies Act 2006 relating to financial slatemenls, so fBr as applicable to the Comny. Th8 members have not required the (x)mpany to obtain sn audit of its fin8nci81 statem8nls for the year in question in accordance wilh section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small cx)mpani&s regime. Th8se financial statements W9rg approved bythe trustaes and 8Uthorised for issue and are signed on their behalf by. 8 Mcllwrath Director Date Company Regstralion No. N1635156 The notes on pages 19 to 27 form part of these finan¢lal statements. 18
LOWER OLDPARK COMMUNITI ASSOCIATION Notes to tho Financial Statemènts for the year ended 31 March 2023 1 ACCOUNTING POLICIES The principal accounting policies adopted. judgements and key sour¢es of estimation uncertainty in the pr8paralion of the financial statements are as follows.. al Basls of preparallon The financial statements have been prepared in a¢¢ordan¢o with AOUntIng and Reporting by Charities.. Slal&ment of Recommended Practice aPicable to charities preparing their accounts in a¢cordance wth the Financial Reporting Standard 8pplicable in the UK and Reubli¢ of Ireland IFRS 102) (effective 1 January 2019) - (Charities SORP {FRS1021). Lower Oldpark Community Association meets th8 definition of a publi¢ benerrt entity under FRS 102.Assets and liabilities are initially recognised at historical cost or transaction value unless otherwis8 slated in th8 relevant accounting policy nolels) b) Preparation of the accounts on a going concem basis The trustees are of the opinion that the charity is 8 going concern. c) Fund Accounting Gen8ral funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity 8nd which have not boen d8signaled for other purposes. Designated lunds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. General funds may bg trar7sf8rred to designated funds where Truslees wish to Use these lunds for a specific purpose. Such funds may be transfetred back lo general funds once th6 criteria for the designation have been m81 or are no longer applicable. Restricted funds are funds whith are to be used in accordance wlth specific F8Str¢clions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administeriT)g such funds aro charggd against the speufic fvnd. The aim and use of restricted funds is set out in the notes to the financial statements. Restricted funds may only be transferred to general or designated funds once the criteria for restriction have been discharged or no longer apply. dl Ino)me Recognition Policies Items of income arg rgcognised and included in the accounts when all of the followng criteria are mel: • The charity has entill8ment lo the fund5-, . any p8rfomian¢e conditions attached to the it8m of incom8 has been mgt or are fully wthin the control of the Charity. there is sufficiant certainty that receipt of the income is considered probable- ar • the amount can bs measured reliably. el Intergst Recaivable Interest on funds hold on deposit is included when receivable 8nd the amount can be m88sured reliably by the charity, this is normally upon notification of the interest paid or payable by the Bank. 19
LOWER OLDPARK COMMUNITY ASSOCIATION Notes to the Financial Statemènts IconUnu4di for the year ended 31 March 2023 1 ACCOUNTING POLICIES Iconlnwodl n Expenditure and ifrecover8ble VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third patty. il is probable that settlement will bo required ar¢d the amount of the obligation can be measured reliably. Expenditure is ¢la55ified under the follow(ng activity headings- Expenditure on charitabl8 activities includes the costs of supporting refugee families and activities under- taken lo further the purposes ol the charity and their 8sso¢iated sUPPOrt wsts Othgr expendilure represents those it8ms not falling into any other heading Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. gl Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of Ihrefr months or18ss from th8 date of acquisition or opening th8 deposit or similor a¢Unt h) Allo(xtion of support cosls Support costs are those functions that assist the work of the charity bul do not directly undertake charitable activities. Support cosls indudo back otrice costs. financ8, personnel. pa011 and gornanCe costs which support the charit$ programmes and activities. These costs havè b9en allocated be88n cost of raising funds 8nd expenditure on charilable activities. The bases on which sUPPOrt costs have be8n 811oc8ted Bre set out in note 8. i) Tangible Fixed Assets Individual fixed assots are capilalised at cost and are depreciated overtheir estimated useful economic lives as follows". Assot Catogory: Equipment F5xlures & Fittings Buildings Annual Ra 15% Reducing Balance 25% Reducing Balance 10% Slraighl Line The carTwng values of18ngible fixod assets are reviewed for impairment when events or CirMS1anCOS indicate the carrying value may not b8 rewverable. j) Debtors Trade and oth6r debtor5 are recognised at lh8 settlem8nt amount due after any trade discount offered. Prep8yments are valued Bl the amount prepaid after taking aecount of any trade discounl due. k) credito and Provisions Creditors and provlsion5 are recognised where the charity has a present obligation resulling from a past event that wlll probably re5uII in the transfer of funds lo a third party and the amount due to settle th8 obligation can be measured or estimated reliably. Creditors and prowsions are nomially recognlsed at their sottlemont amount after allowing for any trade discounts due. 20
LOWER OLDPARK COMMUNITY ASSOCIATION Notes to the Financial Statementg 1ts)nth*di for the year ended 31 March 2023 1 ACCOUNTING POLICIES l¢onitnu•dl l} Financial Instruments Financial liabilities and equity instiuments are dassified according to the $ubstance of the contractual arrangements entered into. An equity instrument is any contract th8t evidenetrs a resrdual interest in the assets of tha entity after deducting all of ils finanGial liabilits8S. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument. those financial instruments are classed as financial li8bilities. Financial liabilities are piesenled as such in tho balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are caleulaled so as to produce a constant rale of retum on the ou15tgnding liability. Where the conlraclual terms of share capital do not have any terms meeting the definition of a financial liability Ih8n this is classed as an gquity instrument. Dividends and distributions relating lo equlty instruments are debited direct to equity. ml Pensions The company operates a defined contiibution ponsion sch8me. Contributions or0 charged in th8 Statement of financial activities as Ihey become payable in accordance wth the rules of the scheme. n) Taxation The company is a registered ch8rity and the ch81itable 18x exemptions 8re therefore being cloimed lo the extent that income andlor gains are applicab18 and applied to charitable purposes only. These exemptions 11 remain in Pla as long as InMe and expenditure is spplied to char4table purposes only. ol Critical 8ccounting eslimates and judgements In the application of the ehariws Bccounting policies. the trustees 8r8 required lo make judgements. estimates and assumptions about lh8 carrying amount of assets and liabilities Ihat ar8 not readily apparent from other sources. The estimates and 8SSOCi2t8d assumptions are bastsd on historical experien and other factors that are considered lo be relavant. Actual results may differ Irom these eslimates. The eslim81es and undedying assumptions are reviewed on an ongoing basis. Revisions 10 8ccounting estimates are recognised in the period in which the estimate is revised where the revision aff&cls only that perÈod, or in the period of the r&vision and future poritrls wher8 the revision affecls both cuffent and future periods. 2 Legal Status of th8 Charity The charity 15 registered wth HMRC (X0740187} and Northem Ireland Charity Commission {NIC1009061. 21
LOWER OLOPARK COMMUNITY ASSOCIATION Note8 to thè Financial Statements for the year ended 31 March 2023 3 Incom8 from donations Total Funds Total Funds 2023 2022 Unrestrictsd Restricted Donations Room Hire & Facilitation Belfast City Council Belfast Heallh and Social Care Trust SCG Education Authority Radius Housing Association Ulster SGots Relief Fund Beat Camival Nl Atternatives 725 725 1.192 110 25.424 2,322 1.456 12.000 451 105 451 105 6,000 6.000 716 716 460 4,084 12.541 4.586 460 4084 5,825 6,716 47,090 The income from donations received in 2022 of £47,090 were split £39,746 restrlcled and £7.344 unreslricted. 4 Income from Charitable Activittos Total Funds Total Funds 2023 2022 Unrèstrietsd Restricted Department of Soci81 Development Ni)rthern Iretand Housing Executive Pathway Fund NIPPA- Eady Yo8rs Department for Communities IFI - Peace Walls Programme Belfast City Council Community foundation Nl HSCB - Belfast Childcar8 Partn8rship Gr8nt Radius Housing Association 79.495 30,609 79.495 30,609 74.803 32,903 29.985 5.648 5.273 100,566 29.985 29,985 97.081 20,435 3.000 97,081 20.435 3,000 1.698 500 232,818 1,698 500 262.804 29.985 249,178 Charitable income received in 2022 of £249.178 was 811 restricted.
LOWER OLDPARK COMMUNITY ASSOCIATION Notes to the Flnancial Statements Icortlnyyo) for the year ended 31 March 2023 S Incom• from Other trading Activlti8s Unrestrict8d Total Funds Tolal Funds Funds 2023 2022 Playgrwp Fees 18,351 18,351 24,718 18.351 18,351 4.718 Playgroup fees received in 2022 was made up of unrestricted.- £24.718 and restricted £nil. 6 Rosults for tho period Th8 results for the p81iod has been arrived 8t after charging the following: 2023 2022 Oepreciation 11,934 10.486 11.934 10.486 7 Analysi5 of expenditure on Charitable activitios: Total Funds Total Funds 2023 2022 Unrestricted R•stricted Progr8mme Cosls Direct Salaries & Wag6S Direct Pensions Support Costs (see Note 71 Governance Costs (see Note 7) 1,682 47,056 1,278 22.083 2.400 72,678 96.423 9.265 63,886 74,360 143,479 10.543 85,968 2.400 74.795 154.676 18.eA8 70,292 900 74,499 242.251 316.751 319.311 Expenditure on charitable activitt&s in 2022 was made up ol restricted.. £299,127 and unrostricted: E20.184. 8 Analysis of govemance and support Costs: The charity initially identifies the costs of ils support funclitins. It Ihgn identtries thosè costs which relate to Ihg governance fundion. Governance eosts 8nd other support costs are apportionéd separately belPen th8 charitable activity undertaken in the period. Refer to the table over the page for the basis for apportnment and analysis of support 8nd govem8n¢e costs 23
LOWER OLDPARK COMMUNITY ASSOCIATION Note8 to the Financial Statements Iconufiu•rti for the year ended 31 March 2023 8 Analysi5 of govemance and support costs: Icoali+o) Genèral Support Govemancè Function Total Funds Total Funds Unrestricted Restricl8d Unrestricted Restricted 2023 2022 Salaries & Wages Rates & Water Light & Heat Insurance Repairs & Maintenance Legal & Professional Feés Office Expenses Room Hire Equipment Depreciation Cleaning Sundry Bank Fees Travel & Subs151gnce Subscriptions Telephone Accountancy Computer expenses 27.017 27.017 270 8.456 3.732 1,079 7,950 6,941 371 5,353 11,934 304 3,889 340 4.709 296 2.176 2.400 22 1,130 27.445 254 4,357 3,21)4 5.778 4,400 8,250 270 4,126 1.545 240 4.330 2,187 839 7,290 4,188 2,753 371 1,960 5.212 78 3,435 340 520 3.393 6.722 226 454 10,486 706 285 782 132 2.062 900 4.189 255 1.921 2,400 pps 1,130 1,755 Training 22.083 63.886 2.400 88.389 71.193 9 Analysi5 of staff costs: 2023 2022 Salaries and Wag8s Employers Nalional Insurance Pension 146.002 24.494 10.543 181,039 159.712 22.409 18,648 200,769 The average number of employees, cal¢ul8ted on a full-time equivalent basis, analysed by fun¢tion was: 2023 Numbor 2022 Number Charitable activitigs Managemenl and administration of the charity 10 Thoro were no employees wth emoluments grealer Ihan £60.000. 24
LOWER OLDPARK COMMUNITY ASSOCIATION Notes to the Financial Statements leondI for the year ended 31 March 2023 10 Relatsd Party Transactions The charity was under the control of the board of trustees through out the year. The charity Trustees wer& not paid or received any benefits from employment with the charity in the year, neither weie Ihey reimbursgd expenses during the year. Any connection b@en a Truslee or senior manager of th8 ¢h8rity wilh organisations the charity works with must be disclosed lo the full Board of Trustees in th& same way as any other oontraclual r&lationship with a related party. During the period Lower Oldpark Community Associatlon did not enter into any transadions wth related parties. 11 Tangible Fixed Assets Equipment Fixtures & Flttings Buildings Totsl Cost: Cost at l April 2022 Additions Disposals 29,420 68.269 1.026 67,219 164,908 1.026 As at 31 March 2023 29.420 69.295 67,219 165.934 Dopre¢iat40n: Depreciation at 1 April 2022 Depreciation on DisposBIs Charge for the period 29.128 47.851 44.364 121.343 5.168 6.722 11.934 As at 34 March 2023 29,172 53.019 51.086 133,277 Net Book Value At l April 2022 292 20.418 22,855 43.565 As at 31 March 2023 248 16.276 16.133 32.657 12 Debtors 2023 2022 Grants Receivable 500 500 25
LOWER OLDPARK COMMUNITY ASSOCIATION Notes to the Financial Statements for the year ended 31 March 2023 13 Crèdltors: amounts falllng due wllhln one year 2023 2022 Accruals 8 Oeferred In¢ome 1.240 1.240 1,240 1,240 14 AnAlysl$ of Mo¥8ments In Unrastrlctod Funds a$ at 1 Incoming R8sour¢es Transfers Aprll 2022 Rasourc8s Exp¢nded Between Funds Fund5 45 at 31 March 2023 Gener81 Fund 96.S23 54,249 {74.4991 { 1,IlOJ 75.163 Total 96.523 54,249 74,4991 1.110 75,163 Name of Unrestrlctsd Fund Descrtptton. naturn and purpos•$ ot the fund General Fund The"free reserves. after allowlng for all deslgnated ftsnds 15 Analysls of Movém•nts In R95tr1¢ted Funds Funds as at I Incomlng Resourc•s Transfers Aprll 2022 Resources Expèxded Between Funds Fun*Ss as at 31 March 2023 Reslrkled Funds Houslng Executlve 8Lrlldlng Fund IFI- Peace Walls Programffle Department for ComruUnIes Heallh and Soclal Care Board Summer Intetvenllon Assoclallon 8CC Sufflmer prolecl BCC revenue grant BCC Good Relatlons Community Funding Radlus House Ulster SGott5 Culture events Totsl 30.609 130,594) {6.722) 15 15.863 22,585 2,107 97.081 79,495 1,698 6,000 195.9SB) 179,4951 11,751) 16,or181 3.230 53 5,000 11.493 3.942 3,000 500 716 239,534 14,0301 111,4931 (4,9871 970 1,045 3.000 {4931 720 242,251 24,692 1,110 23.085 26
LOWER OLDPARK COMMUNITY ASSOCIATION Notes to the Financial Statements IN11n•i for the year ended 31 March 2023 15 Analysis of Movements in Restricted Funds {¢onllnuedl Department of So¢lal Development {DSD) The Department ol Social Development provides funding for the Crumlin Ward Inltialive which The Vine Cenlre is the lead partner responsible for allocating the funds. Houslng Executlve The Norihern Ireland Housing Executive provided funding for salary costs to support Lower Oldpark Community Association in Ihoir charilaFAe objectives. IFI- Peace Walls Programme The Peace W811s Programme is funded by the Intern81ional Fund for Ireland to provide support to Lower Oldpark Associ8tion (lead partner) and Cliftonville Community Reggneration Forum in developing comtnunity relationships. Transfers to unreslrictad funds re in relation to management fees 8nd offKe rental provided by Lower Oldpark Community Assoeiation to facilitate for the programme. BCC Modular Building Fund Belfast City Council provided funding for the charity to build a new modular building on site for use of the charity- The building was capttalised so the fund V11 be deared by depreciation each period. 16 Analysis of net assets botween funds General Fund Restricted Funds Total Tangible Fixed Asset5 Other Current Assatsl{Liobilitièsl 16.793 58.369 15.863 7.222 32,657 65,591 75,162 23,085 98.248 27