MORNING STAR HOUSE STATEMENT OF FINANCIAL ACTIVII'IES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrl¢tsd Roslrfcted nds fundg 2024 2024 Totsl Unregtrictod RèstrlGte41 funds funds 2023 2023 Total 2024 2023 Notes In¢omo and endowmanl$ from: Donatlons and legacleg Charltablg actlvllles Inv2slments oth8r Incoma 5.806 261.963 28,229 4?.6 18,316 268,528 18,316 828.695 557,918 819,881 28,229 426 560,167 1,379 1,379 Total Incom6 296,424 b57.918 854,342 288,223 560,187 848.3QO Expenditure on: Charitabl¢ actlvltles 341,423 1,194,717 1,538,140 2$7,Q72 424,739 891,811 Total oxpendltura 341A23 1,194,717 1,536.140 424,7.39 691,811 Nat Incomel(expendltur¢) <44,999) {636,78a) (681,798) 135,428 156,579 Transfers belmeon funds (310,g62) 310,962 Not movement In funds (355.961) (325,83n (681,7981 21,151 135A28 156,579 Reconclllatlon of funds: Fund balances at 1 Aprtl 2023 179,141 498.468 677,609 157,990 363,040 521,030 Fund balaiKpg at 31 Mar¢h 2024 (176,820) 172.631 (4,189) 179,141 4gB,468 877,809 The statement of financi81 actlvltles Includas all galns and losses rg¢ognlsed In the year. All income and w)gnditure 4JetiYe from contlnulng activitles. 10- MORNING STAR HOUSE BALANCE SHEEr ASAT 31 MARCH 2024 2024 2023 Notos Flxed a8Sats Tangiblè assets Curronf as591$ Debtors ash Mt bank and In hFAnd 13 23,641 14 37.077 950,314 193,971 987,391 1,188,491 Credhors: amount8 falllng du• wfthln 4>ne year 15 (1.01S,221) {50B.882) Net current Olabllltlgsllassats (27,t4301 6n,809 Total 4$1ots less ￿rrent liabiHIRs 14,1891 677,609 In¢omo funds Re6trtcted funds Unre8triatsd funds 17 172,631 1176,820) 498,488 179,141 (4,189) 877,609 30101 The Ilnanthal st8l8morrts were approved by Ihe Managoment Commltteo on ... R Cu5bert Rory CUl￿rt (Chalrp8rson) Trustso Th6 note8 on page$ 13 to 23 form part ofthes& finendAI statemonts. 11 MORNING STAR HOUSE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes C85h flows from opurallng o¢llvltlg$ Cash (absorbed byyg8nerated from aperats"on8 21 (46,794 177,259 Invesfliig octlvltl Purchase oftanglble fixed 8$861s Inve8trnent Income recelved 123.641) 28,229 Ngt caBh gonerated froml(uséd Inl Investlng actlvltlos 4,588 Net ¢a¥h In flnanclno acfNiliti8 Net (d¢creo8olNncTeosa In ¢a$h and cash 8qulvalent$ (42,?.08) 17-1,259 C86h and cash equfvelents at boglnnlng of year 992,520 815,247 Cash and ¢agh oqulvalents at end of y•ar 950,314 815,247 12~ MORNING STAR HOUSE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollc108 Charlty Informatlon Moming Sl8r House Is a reglstered Charity in Northem Ireland, The w18terod office Is Momlng Slar House, 2-12 Divls Stroot, Bglfast, BT12 4AL 1.1 Accountlng ¢onv8ntlon Thg fmarKlal stat8mBnts have been prepared In accordance with the ch8rfl1￿ Act {Northern Ireland) 2008 and °A¢rA)unllng and Reportlng by CharitSe8' Statement of Recommèndgd Prgclsce appllcable to (*arltles preparlng thelr accounts In sc￿rdanCe wltkb the Financial Reptytiw StsT)dard appllcAble in the UK and Republic of Ireland treal8d as a contingent asset and dlsclosed. Income from trfiding aclivilles Includes Income earned from fiJndraislng evgnts and Iradlng acllvltlos to raise fijnds for the charity. Inixme Is r8c8lved In exGh8nge for supplylng good8 and sorvi¢88 In order to raisg funds and ts reLognlsed when entitlement has occurred. The charity ra￿1Ve￿ funds from the Northern Ireland Housing E¥eG￿tIv¢ in respecl of the sanrice agraemenl with supporting People. Thls Incorne and olh8r £rants aro roooynl%6d at fair value when the chariLy has ntitlement gfter any pgrformance conditions have bean met, It is probable that the Income will be ￿¢81Ved and the amount can be measured reliably. If 8ntitlamont Is not met then theso amounts are doferred. Inveslmgnt income Is earned through holding assets for Investment purposes Such as shares and property. It Includoa dlvldttnds, Inlerè&£ and r8nt. Where tt is not pradicable to Idenllfy Investment managemenl Costs InCU￿d wlihln a scherne wtth rea$ottablè a￿uMQY the inv¥¢lm8nt incume is reported net of these costs, It Is lTh¢luded when the amount can b? mea$ured r611ably. Ini¢féyt IhCOMP 18 recoynlsed u8ing the effe¢tiv6 intorest melhod and divldend 8nd rent Irtoome Is recognlsed as the ¢harlty's rfllht to reaelve paymant Is establishéd. Qlher inGorne Includos Ihe conversion of endowmenl funds into incomg whl¢h artses whan capllal fvnds are le85ed to an income fund from expendable èndowments or when a charlty has authority to adopt ? iotal return approach to Its permanent endowment fund. It also includes other Income such as galns on dlsposals of tangibla fixed ossets, Due to the naturè of donated incume. such Income Fs not capabl8 of control by tha Charity before recelpt by the Charlty. However, fln8ncial conlrols are in plac& lo ensure accurate recordlng and safeguardlng of all income recalved by the Charity 14- MORNING STAR HOUSE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng poll¢leg {Conlinuad) 1.5 Expendltura All expgndilure is 8cr.ounted for on an 8ccruals ba#ls and hos b88n cla$$lfied under hgadlngs fhat aggregate 811 costB re18ted to the cakgory. Expenditure Is recognlsed Whe￿ there Is a legal or conslrucllve obllgalion to moke payments to thlrd paruos. It18 probable that the settlement wlll be requlred and tho amount of the obllg8tion can be Measured rellably. It Is categorisgj under the foll¢y•vlng heacllngs: Expenditure on charttable eclivltios indude$ all th068 cosls relatad to the provbton of the servl¢e$ of the ch8rlty to the resldents. Includlng staff costs, the costs of nsnnlnu the prem18e8 and Ihe ¢osts of provldlng food to regidents and the w91fare and medlc&l needs of Ihe reslrlonts; and other &xpendftur6 ropresents those Items not falllng Into Ihè categories obove. Irrecovor8ble VAI'18 charged as an expense auainst the aclivlty for whlch expendlture arosa. Support costs allocation Support co81s are those thet asslst the work of tho charity but do not dlrecly ropre8ent charltable 8Ctlvlties Biid include offlce colts, govamance cos1& and adminÈBtrative payroll c08t8. They ar8 In￿rred dSreotly in support of expendltur8 on the oble¢ts of the ch8rtty. Wherg SUPPOrt (xists cannot be directly dttrlbutod to partlGular hoadings they have been allocated lo cost of ralslnu funds and oxpenditiJr8 on charltable adlvltles on a ba81$ tt)nslstent wrth use of tlw resources. Premlsas overheads have béon allocatod on a basls aonslstgnt wlth the u88 of tho premises for ¢hBrltsble aLllvltle8 and oth6r overheads havf) been allocated on a slmllar ba$ls.. Fund-raising cosfs are tho$¢ Incurred In seeking voluntary conlrtbudons al￿ do not Indude the o)sts of dls$emiiiatlng Informat1￿ In support of the charitable actlvliles. 1.6 Tangiblo fixod a5s0ts Tangible Ilxed 8$8815 are Inltlally m&agured at ¢ost and subsequently mOasu￿.d al (y)St or valuatlon, ngt of depreclallon and any Impaimi8nt1038es, Deproclatlon Is r6￿gnISed so ss to write off tho cost DrvaluatEon of assets less Ihelr resldual valuey ovar th61r useful Ilvss on the folSowlng bases., Plant and equlpmenl Flxtures and fittings Computer8 Stralght line over 4 years stralght Ilne over 4 years Stralght lino over 3 years The galn or loss arlslng on th8 dlspo$al of an ass8t [8 determinod as th6 dlfference botW8en thg sale prowds and Ihe carrying valuo of tho ass6t, and 16 recognl$ed In the statement of flnandal &ctlvllle8. 1.7 Impalrment of Ilxed assots At oach reporting end date, Ihe charfty r6vlew8 the carryin9 8mounts of Its tangible as*ts ta det8milne whether there Is any indlcallon that thoso as8els have sufferad an Impalrmeni loss. If any such Indlcation extsts. the re¢ov8rabl¢ amount of th6 asset Is esllmated In order to determine the extent of the Impalrmont 1058 (If any), 1.8 Cash and cash equlvalonts Cash and cash equivalents Include cash in hand, d8poslts h61d at call wllh banks, other short.term Ilquid investments wlth original maturiues uf three months or1988, and bank overdrafts. Bank overdrafts are shown wlihln borrowings In current Ilabllltleg. 15- MORNING STAR HOUSE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A￿oUnting poli¢le$ Icontlnued) 1.9 Flnanclal Instrument8 The tharlly has e18eted lo apply the provlslons of Secllon 11 'B8si¢ Flnanclal In8trumonts' and Sectlon 12 'Other Financial Instruments1¥sueg' of FRS 102 t(> all of ts flnancial InslrLtments. Fiiianclal Inslruments are recognlsgd In t118 Charit￿8 balance sheet whon Ihe ¢harfty bocomes paty to th8 contraolual provlslons of the Instrument. FlnBnclal a889ts and Ilabilllies are oif$el, wrth the net amounlg presantad h the Ilnanclal Statements, when th8ro Is a legally enforceabla rtght tu set off the recognlsed amoun15 and thwre Is Èn Intention to settle on a not ba$18 orto rBallse the a99et and 81)ttle the Ilablllty slmukaiieously. Bas1¢ financlal assets Basic, finaT]cial ￿Se1$, whlch Includè debtors and cash 8nd bank b81an¢es, aro Inltially measured at trgnsactlon prlo Includlng transadlon cost8 and are subsequently carrled at amortlsed cost U8lng the affecllve interast m&thod urilgs8 Ihe arrang6mBnl c¢nstltule$ a financlng tr8ns¥¢tlon, where th8 transaction ig measured 3t the preselrt Value of thè futur6 rerelpls discounted at a market rate of Intgre81. FlnanciE]l a8$etB Qlasslffad as recolvable wilhin one year are not amortls¢d, B8$lc fInan￿allia￿'Ilrfle5 Basia financlal Ilabilili8s, Induolng credllors bank loans are Inltlally recognlsed at transactton prlta unl088 the arrangemenl ¢onstltutes a financlng transactk)n, whgre tho d6bt In81rument Is measured at Ihe present Value of the future payments dlscounted at a m8rtet r8to of Interesl. Ftnan¢ial Ilabllfties da$sifted a8 payable wlfrhln one year are not emortlsad. Debl Instnjments are subsequBnlly ￿rrf@d at amortlsed tt081, u$lng thg eff¢cUve Inleresl rsjtè methoLI. Trade creditots are obllgallons to pay for guad3 or servl¢es Ih8t have been acquir¥d in the ordinary ¢ours6 of operatlons from supptlers. Amounts payable are cla86lfled as Gurrent Ilabllitles rf payment Is due wilhln one year or less. If not, they are presented as non-curront liablllllos. Trad8 crediti￿$ are reoognlsed Inlllally at transactlon price and subs'equently measured at 8mortlsed cost UBing the effective interest melhod. Der¢cognition of flnanclal Ilabllltles Flnancial Ilabllill86 arè derecognlsed when the charity's contractual obllyattons 8xplrè or ara d18charged or cancolled, 1.10 Employ00 bongfit$ The cost of any unused hollday entitlement Is recL)gnlsed In the perlod In whlch the employee's servi¢e8 are recelved. Terminalion benefits are racognlsed Immedlatsly Ss an expense whgn the oharlty Is demonstrably committed to16rmlnate the employment of an employoe or to provlde tgTrnination benefits, 1.11 Retlrement ban#flt8 P8ymonts to deflned contributSon rellrement benefit schemes are charged as an expense as thay tall due. 16- MORNING STAR HOUSE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 crftl¢al aGcountlng 08llmates and Judgomon In the applicatlon of th8 charit￿8 accounllng policies. the Management Committee are r8quked to make judgements. estlmates and assumptions about the carylng amount of assots al￿ Ilablllties that are not readHy Apparent. from other sources. The esllmates and asso¢i8tBd a&8umptlons ere bas￿ on hl¥torfoal experienc6 and otherfo¢tors thal are Con￿dered to be relevant. Actual results may dlff¢r fm Ihese e$tlmatss. The &silrnates end undorfylng assumptions aro revigwed on an (Hwlng basls, Revlslon8 to ac(J)untiTVJ esllmates are re¢ognlsed In the perfod in wh￿h tho èstSmate Is rev188d wharè the revl$ion affed8 only that perfod, or In the perlod of the r8vislun and future perlods where the rpvlsion affects both currenl and ftjture pertods. Incom• fr¢Jm donatlons and lego¢i48 Unrnstrlcted Unrostrlctfjd funds funds 2024 2023 Donatlon8 and gifts S,B06 18,316 Donatlan$ and glfts other 5.806 18,316 5,806 18,316 Incomo frr of 8mployeL4B durfng the yaxr wa8: 2¢)24 Numbor 2023 Numbor Employment ¢o$ts 2023 Wages and salaries Soclal security costs Other pension costs 344,755 25,388 5,589 375, 132 Management Commltteo and koy mandgemant porsonnol remuneration and expenses The Management Commlttge n6ither received nor wafved any remun¢ratton durlng lh8 ye81 (2023: £Nil). Th6 totsl amount of employee beneffts re¢8lved by key management personnel 18 £NII (2023: £NII). The charty consider8 its key management personnel to ¢ompr¢)mlse the ManagemeTIt Committee, None of Ihe Man8gempnt Commlilge (2023. None) are accruing penslon arrangemerbts. Expenses amounting to £N￿ (2023: £NII) were relmbur8ed to the Managoment Commlttee durfng the y¢ar. Thore werg no employe98 who89 annual remui)6rallon was more thar) £60.000. 12 Taxatlon The charlty Is exempt from tax on tn¢ome and galns falllng within 89clion 505 of the Taxe9 A¢t 1988 or sectlon 252 of the Taxalloft of Charg8abl8 GalnsAcl 1992 to th8 extent thal these are applied to Its charllable objects. -20- MORNING STAR HOUSE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tanglble fixed as58t8 Plant #nd Fixtures and Computsr ¢qulprnpMt Ilttlng Tolal Cost At 1 Apr(12023 Addltlork8 73.3¢10 23,599 28,285 23,641 125,224 23,641 At 31 March 2024 73,340 23,599 51,928 148,885 Depreclatlon and Impalrrnont At 1 Aprll 2023 73,340 23,599 28,285 125224 At 31 March 2024 73.340 23,599 28.285 125.224 Carrylng amount At 31 Mar¢h 2024 23.641 23.641 14 Debtors 2024 2023 Amounts falllng duo withln one yoar: Trada debtors Ofher debtors Prepaymonis and ac£ru8d Incom 37.040 147,851 9,D80 28,077 g,uoo 37,077 193.971 15 Creditors: amounts falllng due ￿￿thIn year 2024 2023 other tsxatEon and soctal seourity Trade creditors Othor creditors Accruals and deferred income 16,345 35,592 414,114 549,470 11,444 72,392 419,28fj .5,760 1,015,221 508,882 16 RetiTament banellt $c￿Me8 2024 2023 Defthed ¢ontrlbutlon $chome8 Charge to profft or Ios8 in respeot of deflned contrlbutlon schemes 5.589 21 MORNING STAR HOUSE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Rotlroment benafit s¢hemo9 (ContlnuÈd) The charlty operatsg a defined contrlbutlon poTrslon scheme for all qualifying employee8. The Assets of th6 SGheme are held separ8tely from those of the charity in an Independenuy admlnistsred fund. 17 Rostricted funds The restriGted fund6 of th8 charlty comprifjo the unexpendgd balancès of donatlons and grants held on tTUSt subject to spscific condlllong by donors as to how Ihey may b6 used. Movamenl In fund$ In¢¢)mlny R¥S(￿rre ro¥ourc8a expendod Balayt¢o at l Aprfl 2023 Transkrs Balanca al 31 2024 Supportlng Peopl Supportlng People Uplift IT NIHE Equiprnentgrant 533.949 (1,194,297) 23.969 14201 135.428 23,549 13,654 557,918 (1,194.7171 310.962 172,831 Restrlcted funds Th6 Supporting People fundlng ig lo provlde houslng related 6UPPOrt to vulnerable people to Improve Ihelr qualtty of lrfe and attaln independonoo. There drg provlslon8 for th& r8payment to Supportlng People of ox¢ess fundlng provlded by them. The NIHE Equipm9nt gr8nt was to purchase ts¢hnology to d61iv&r e,fficlenl and servlce ImprovemÈnts. 18 Unreslrlctsd fvnd$ The unrestrkted fund8 of the charity comprlse the unexpen(Jed balances of donatk)ns 8nd granls whkh are not 8ub]ect to specifflc conditions by dorK)rs and grarfcors as to how they may bé us@d. Th68e include deslgnated fund8 which have been set asido Out of unre8trlrtgd funds by the tru8tees for specillc purposes. At l Aprll 2023 Incomlng rasouir98 Resources gxpondod Transfars At 31 March 2024 General lunds 179,141 2Y6,424 1341,423) 1310.962> (176,820) Prèvlous year: At 1 Aprll 2022 Incomlng Restsur¢è8 retsourca¥ Qxpondod Transfors At 31 Mar¢h 2023 Gèneral funds 157,990 288,223 (267,0/2) 179,14 22- MORNING STAR HOUSE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Anal￿1¥ of Ml asset$ botW08n funds Unro8lrlGtod fundg 2024 Rostrlcted funds 2024 Total 2024 At 31 March 2024: Tanglblo as8et Curr6nl assetsllllabllllltts) 23,641 148,900 23,841 (7.7.830) 11711020) 1176,820) 172,631 (4,189) Unre$trlctsd funds 2023 Restrl¢ted lunds 2023 Total 2023 At 31 March 2023: Curront a8SOtsllllabUltiesl 179.141 498,468 677,609 179,141 493,488 677.609 20 Related party transaolons The followlng relalod porty transacllons o¢¢urrad In the year. Tha charfty occupies premises owned by the Leglon of Mary and has been charqed £Nil rent for tha year (2022: £Nil). At the balance 8heet dale. an amount of £411,499 (2023: £411,499) wgs due to tho Logion of Mary for rent,, and The Leglon of M8ry advanced £NII (2023., £NIII to the charfty In tho year and Is owed £Nil12023: £Nil} by the Moming Star Hous¢. The amount due18 interest fr8e, unsecured and repayab18 upon demand. Overthe toldl amount duo to The Logion cf Mary Is £411A99 (2023: £411,499). 21 Cash genèr*ad from operalions 2024 2023 (Deficlty8urpuF for the year (881.798} 1 $6,579 Adjuslmants for.. Invèstmont IIKome recognlsed In 8latÉm&nt of fin8ncl81 athltles De￿¢¥all0rt and Impalrmtsnt oftsnglblo flxed assets 128.229) '1,193 Movements in worklng capltal,. Decreasel{Incre88e) In debtor Increase In credltors 156,894 506,339 (59,3531 78.840 Cash {absorbfrd by)Igenoratsd from operallons (46,7941 177,259 .2.3-