REGISTERED COMPANY NUMBER: N1604474 (Northern Ireland) REGISTERED CHARITY NUIVIBER: 101347 Report of the Trustees and Financial Statements for the Year Ended 31 March 2023 for Belfast Activity Centre Mccleary & Company Ltd Chartered Accountants and Registered Auditors Quaker Buildings High Street Lurgan Craigavon Co. Amiagh BT66 8BB
Belfast Activity Centre Contents of the Financial Statements for the Year Ended 31 March 2023 Page Report of the Trustees Report of the Independent Auditors Statement of Financial Activities Balance Sheet Cash Flow Ststement 12 Notes to the Cash Flow Statement 13 to 14 Notes to the Financial Statements 15 to 24 Detailed Statement of Financial Activities 25 to 26
Belfast Activity Centre Report of the Trustees for the Year Ended 31 March 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). ORIECTIVES AND ACTIVITIES Objectives and aims The Objects of the Charity are the advancement of amateur sport and adventrjre learning through outdoor activities and the advancement of citizenship and Community development for the benefit of the public and in furtherance of those objects: to be a personal development charity that aims to engage people from all backgrounds in programmes of activity that encourage them to reach their full potential and explore their p¢rsonal and social development. to work mainly through the medium of adventure learning and outdoor activities delivering a range of short and long tern] programmes and awards. and to provide an holistic approach to the needs and aspirations of individuals. ensuring safe, inclusive, but challenging opportunities that are "Changing lives and building futures Centre Accreditations and Professional Memberships Gold Standard and Adventure Mark accreditation from the Association of Heads of Outdoor Education Centres (AHOEC) Investors in People Silver Award Institut¢ of Outdoor Learning (IOL) Mernbership Institute of Outdoor Learning (IOL) Approved Continuing Personal Development (CPD) Provider Open College Network {OCN) Qualifying and Programme Centre Learning Outside the Classroom (LOC) Quality Badge Duke of Edinburgh Award (DOE) Licensed Centre Duke of Edinburgh Award (DOE) Approved activity provider for Award Expedition Section National indoor Climbing A ward Scheme (NICAS) Approved Centre for delivery to Level l and Level 2. ASDAN Education Awardtng Centre John Muir Award Group Member British Heart Foundation Affiliated Heart Start Training Provider HSE Approved Rescue Emergency Care (REC) First Aid Training Provider Page I
Belfast Activity Centre Report of the Trustees for the Year Ended 31 March 2023 OBJECTIVES AND ACTIVITIES Revenue Fundraising (Short and Longer term project and programmes) Demand for short term outdoor adventure activities and longer tenn learning outside the classroom programmes increased during the 12 months operating period from April 2022 to March 2023. This demand was driven from the formal schools sector with primary schools reflecting almost 900/0 of the total school programmes delivered alongside an increased demand from the wider voluntary and community sectors. Work with the youth and community recognised a retum to pre-covid levels as voluntary and statutory organisations and leaders emerged from their respective restrictive operations to contract a range of programmes that addressed issues of rebuilding confidence, peer to peer and social communications, problem solving. motivation and prolonged physical inactivity under over-arching themes of health and well-being particularly amongst primary more than post primary aged groups of children. Grant funded support W&8 generously received from a number of independent and statutory organisations including= Department for Communities- BAC Youth Build Programme Belfast City Council - Support towards Centre operating costs Department of Justiee- BAC Adventure Investigators Programme Arnold Clarke Foundation- Duke of Edinburgh Award Scheme Greystone (IOM) - Youth intervention and diversionary programmes FINANCIAL REVIEW Financial Belfast Actlvlty Centre seeks to comply with Best Practice in managing the finances of the Centre and as outlined in the Reserves policy should hold adequate reserves to cover up to 6 months full running costs of the centre. The charity finances at 31 March 2023 show cash at bank and in hand of £76,467 which includes £0 restricted funds. The net current assets at 31 March 2023 were £92,783 with unrestricted reserves of £591,734 equating to more than 6 months full running costs of the centre. Risk Policy Risk Management is a high priority in the work of the centre. Physical Risk is monitored daily due to th¢ nature of outdoor activities. All staff are provided with training in risk management and the Centre has a Health and Safety Advisory Committee of independent advisors who meet quarterly. The BAC Board are tasked with the Governance of the Centre. The Board carries out regular management analysis on all aspects of the C¢ntre's work. Reserves policy The Board of Directors l Trustees, of Belfast Activity Centre will endeavour to accumulate reserves which amount to up to six months full running costs of the centre. The Board believe this to be an acceptable res¢rve and contingency. If the Charity was fortunate enough to reach this amount of reserve, the Board would table a discussion &$ to how funds could be expended or invested, in-line with the work of the charity. Page 2
Belfast Activity Centre Report of the Trustees for the Year Ended 31 March 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and Constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Organisation and Principal Activity Based upon the Memorandum and Articles of Association accepted by Companies House, Belfast on 17 September 201 O for the incorporation of Belfast Actlvlty Centre as a Private Company Limited by Guarantee (Company No. N1604474). First registered as a charity for tax purposes with HM Revenue and Customs in 1990, Charity Registration No. XN82053 and reaffmed at 17 September 2010. Registered as a charity with the Northern Ireland Charity Commissioner, registration on 12 January 2015, Charity Registration No. MC101347. BAC would like to take this opportunity to thank all its funders and supporters over the past year. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number N1604474 (Northern Ireland) Registered Charity number 101347 Registered oifice Barnett's Stable Yard Barnett Demesne Malone Road Belfast Co. Antrim BT9 5PB Trustees Mr Thomas Scott Retired Civil Servant Mr Ian Dougl&8 Consulting Engineer Mr John Harold Baird Chartered Management Accountant Ms Sarah Pamela Ballantine Reporter Ms Clare Maria McNicholl Education Manager Mr Lewis William Graham Given Business Consultant Mr Scott Hamilton Retail Store Manag¢r Auditors M¢Cleary & Company Ltd Chartered Accountants and Registered Auditors Quaker Buildings High Street Lurgan Craigavon Co. Arniagh BT66 8BB Page 3
Belfast Activity Centre Report of the Trustees for the Year Ended 31 March 2023 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Belfast Actlvlty Centre for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SORP. make judgements and estimates that are re&sonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responslble for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with th¢ Companies Act 2006. They are also responsible for safeguarding the assets of the charttable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditors are unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit inforniation and to establish that the auditors are aware of that infonnation. AUDITORS The auditors, Mccleary & Company Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the Board of Trustees on 20 November 2023 and signed on its behalf by: Mr Thomas Scott- Trustee Page 4
Report of the Independent Auditors to the Members of Belfast Activity Centre Opinion We have audited the financial statements of Belfast Actlvlty Centre (the 'charitable company,) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, th¢ Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that h&$ been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Ktngdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a tru¢ and fair view of th¢ state of the charitable company's affairs a5 at 31 March 2023 and of tts incoming resources and application of resources, including its income and expenditure. for the year then have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, 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. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. B&sed on the work we have perforn)ed, we have not identified any material uncertainties relating to events or Conditions tha¢ individually or collectively, may cast significant doubt on the charttable company's ability to ontinue as a going concern for a period of at least twelve months from when the financial statem¢nts are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other inforn]ation. The other information comprises the infomRation included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other tnfonnation and, except to the extent otherwise explicitly stated in our report. we do not expre55 any fotm of assurance conclusion thereon. In connection with our audit of the fInancial statements, our responsibility is to read the other infonnation an(L in doing so, consider whether the other information is materiaIly inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to det¢rmine whether this gives rise to a material misStatem¢nt in the fInancial ststements themselves. If. based on the work we have performed, we conclude that there is a material misstatetnent of this other inforniation, we are required to report that fact. We have nothing to report in this regard. Page 5
Report of the Independent Auditors to the Members of Belfast Activity Centre 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 infomiation given in the Report of the Trustees for the financiaI year for which the financial statements are prepared is consistent with the financial statements. and the Report of the Trustees has been prepared in accordance with applicable legaI requirements. Matters on which we are required to report by exeeption In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatetn¢nts in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 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 not visited by us. or the financial statements are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the infonnation and explanations we require for our audit. or the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in prepartng the Report of the Trustees. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibiliti¢s, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements 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 ststements that are free from material misstatement, whether due to fraud or error. In preparing th¢ financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, &s applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to c¢as¢ operations, or have no realistic altemative but to do 50. Page 6
Report of the Independent Auditors to the Members of Belfast Activity Centre Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable &8surance about whether the financial ststements as a whole are free from material misstatemenL whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of &ssurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or Rn the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these fanCIal statetnents. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Having considered the nature of the Charity and the sector in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to breaches of health and safety laws, employment law and environmental regulations. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that do not have a direct impact on the preparation of the financial statements but compliance with which may be fundamental to the Charity's ability to operate such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and detemiined that the principal risks were related to misstatement of restricted and unrestricted fund balances. Audit procedures perfomied included: Enquiry of those charged with governance including any known or suspected instances of non-compliance with laws and regulations, potential litigation and fraud. Identifying and testing journal entries for appropriateness, evaluating the rationale for significant transactions outside what is normal for the company and assessing whether the judgments made in making accounting estimates are indicative of potentia] bias, in order to assess the risk of fraud through management override of controls- Analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. Challenging assumptions and judgments made by management in significant accounting estimates. Reviewing the disclosures in the financial statements against the specific legal requirements. Substantive testing of Balance Sheet items, together with a high level of individual account analysis. Detailed analysis of all restricted funds, agreeing postings and cut off. We communicated relevant identifIed laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitations in the audit procedures outlined above. We are less likely to become aware of instances with laws and regulations that are not closely related to events and transactions reflected in the fman¢ial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. Thts description fornls part of our Report of the Independent Auditors. Page 7
Report of the Independent Auditors to the Members of Belfast Activity Centre Use of our report This report is made solely to the charitable company'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 charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent pennitted by law, we do not accept or assum¢ responsibility to 8J]yone other than the charitable company and the charitable company's members &$ a body, for our audit work, for this report, or for the opinions we have fornied. John Mccleary (Senior Statutory Auditor) for and on behalf of Mccleary & Company Ltd Chartered Accountants and Registered Auditors Quaker Buildings High Street Lurgan Craigavon Co. Amiagh BT66 8BB 20 November 2023 Page 8
Belfast Activity Centre Statement of Financial Activities for the Year Ended 31 Mareh 2023 Period 1.1.21 to 31.3.22 Total funds Year Ended 31.3.23 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 288,882 215,878 504,760 613,214 Other trading activities Investment income Other income 24,928 24,928 14,225 198 198 356 Total 314,008 215,878 529,886 627,801 EXPENDITURE ON Charitable activities Direct costs Support costs 241,266 207,219 167,762 24,641 409,028 231,860 418,751 260,555 Total 448,485 192,403 640,888 679,306 NET INCOMEI{EXPENDITURE) Transfers between funds (134,477) 23,475 23,475 (23,475) (111,002) (51,505) 18 Net movement in funds (111,002) (111,002) (51,505) RECONCILIATION OF FUNDS Total funds brought fonvard 702,736 702,736 754,241 TOTAL FUNDS CARIUED FORWARD 591,734 591,734 702,736 The notes forni part of these financial statements Page 9
Belfast Aetivity Centre Balanee Sheet 31 March 2023 31.3.23 Total funds 31.3.22 Total funds Unrestricted Restricted funds funds Notes FIXED ASSETS Tangible assets 12 501,118 501,118 550,568 CURRENT ASSETS Debtors Cash at bank and in hand 13 117,177 76,467 42,215 159,392 76,467 169,946 119,357 193,644 42,215 235,859 289,303 CREDITORS Amounts falling due wlthin one year 14 (100,861) (42,215) (143,076) (128,468) NET CURRENT ASSETS 92,783 92,783 160,835 TOTAL ASSETS LESS CURREiYr LIABILITIES 593,901 593,901 711,403 CREDrroRS Amounts falling due after more than one year 15 (2,167) (2,167) (8,667) IYET ASSETS 591,734 591,734 702.736 FUNDS Unrestricted funds 18 591,734 702,736 TOTAL FUNDS 591,734 702,736 The notes fom part of these financial statements Page 10 continued...
Belfast Activity Centre Balance Sheet - continued 31 March 2023 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 20 November 2023 and were signed on its behalf by: Mr Thom ' Scott - Trustee Mr John Harold Baird - Trustee The notes forni part of these financial statements Pagell
Belfast Activity Centre Cash Flow Statement for the Year Ended 31 March 2023 Period 1.1.21 to 31.3.22 Year Ended 31.3.23 Notes Cash flows from operating aetivities Cash generated from operations Interest element of hire purchase payments paid 51,911 8,081 (607) (480) Net ¢ash provided by operating activities 51.304 7,601 Cash flows from investing activities Purchase of tangible fixed assets Interest received (33,872) (44,650) Net cash used in investing activities (33,872) (44,644) Cash flows from financing activities Capital repayments in year (6,500) 15,167 Net cash (used inyprovided by financing activities (6,500) 15,167 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 10,932 (21,876) 65,535 87,411 Cash and cash equivalents at the end of the reporting period 76,467 65,535 The notes fonn part of these financial statements Pagc 12
Belfast Activity Centre Notes to the Cash Flow Statement for the Year Ended 31 March 2023 RECONCILIATION OF NET EXPEIYDrruRE TO NET CASH FLOW FROM OPERATING ACTIVITIES Period 1.1.21 to 31.3.22 Year Ended 31.3.23 Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for.. Depreciation charges Interest received Interest element of hire purchase and finance lease rental payments Decreasel(increase) in debtors Increase in creditors (111,002) (51,505) 83,322 108,239 (6) 480 (67,332) 18,205 607 10,554 68,430 Net cash provided by operations 51,911 8,081 ANALYSIS OF CASH AIYD CASH EQUIVALENTS 31.3.23 31.3.22 Cash in hand Notice deposits (less than 3 months) Overdrafts included in bank loans and overdrafts falling due within one year i li 76,356 122 119,235 (53,822) Total cash and cash equivalents 76,467 65,535 The notes forni part of thes¢ financial statements Page 13
Belfast Activity Centre Notes to the Cash Flow Statement for the Year Ended 31 March 2023 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.22 Cash flow At31.3.23 Net cash Cash at bank and in hand Bank overdraft 119,357 (53,822) (42.890) 53,822 76,467 65,535 10,932 76,467 Debt Finance leases (15,167) 6,500 (8,667) (15,167) 6,500 (8,667) Total 50,368 17,432 67,800 The notes forni part of these financial statements Page 14
Belfast Activity Centre Notes to the Financial Statements for the Year Ended 31 March 2023 ACCOUNTING POLICtES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'A¢counting 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 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standd applicable in the UK and Republic of Ireland, and the Companies Act 2006. The fInancial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon &$ there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expendire is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rate5 in order to write off each asset over its estimated useful life. Tenant improvements, Belfast ALP and Boathouse Office, camping and outdoor equipment Motor vehicles Computer equipment at varying rates on cost 330/0 on cost 250/0 on cost 20% on cost Taxation The charity is exempt from cory)oration tsx on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of th¢ Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to th¢ Statement of Financial Activities in the period to which they relate. Page 15 continued...
Belfast Activity Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ACCOUNTING POLICIES - continued Donated goods Donated goods are recognised as income or assets when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be me&8ured reliably. On receipt. donated items are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain the item on the open market. DONATIONS AND LEGACIES Period 1.1.21 to 31.3.22 Year Ended 31.3.23 Donations Grants Activity income 5,217 215,878 283,665 1,889 302,194 309,131 504,760 613,214 Included in Donations is £5,000.00. This is the value placed on a minivan donated to the Charity in the ycar. Grants received, included in the above, are as follows: Period 1.1.21 to 31.3.22 Year Ended 31.3.23 Other Grants Belfast Regeneration Office - Youthbuild Belfast City Council Department of Justice Department for Communities NIO New Beginnings ARN HMRC Department of Finance Ulster Community foundation N I Tourist Board Greystone (IOM) Limited Arnold Clark Community Fund 147 123,710 21,250 11,800 9,500 25,390 22,300 35,818 10,000 20,279 22,000 132.403 13.000 6,000 23,475 40.000 1,000 215,878 302,194 Pag¢ 16 continued...
Belfast Activity Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2023 OTHER TRADING ACTIVITIES Period 1.1.21 to 31.3.22 Year Ended 31.3.23 Abseil Income Rathlin Run 24,928 14,110 115 24,928 14,225 INVESTMENT INCOME Period 1.1.21 Year Ended 31.3.23 31.3.22 Deposit account interest OTHER INCOME Period 1.1.21 to 31.3.22 Year Ended 31.3.23 Other income 198 356 CHARfTABLE ACTIVITIES COSTS Support costs (see nofr 7) Direct Costs Totals Direct costs Support costs 409,028 409,028 231,860 231,860 409,028 231,860 640,888 Page 17 continued...
Belfast Activity Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2023 SUPPORT COSTS Governance costs Finance Other Totals Support costs 2,941 218,065 10,854 231,860 IYET INCOMEI(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Period 1.1.21 to 31.3.22 Year Ended 31.3.23 Auditors, remuneration Depreciation - owned &ssets 10.854 83,322 3,000 108,239 TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, remuneration or other benefits for the year ended 31 March 2023 nor for the period ended 31 March 2022. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2023 nor for the period end¢d 31 March 2022. 10. STAFF COSTS Period 1.1.21 to 31.3.22 Year Ended 31.3.23 Wages and salaries Social security costs Other pension costs 357,973 23.361 12.891 343.092 23,074 15,728 394,225 381,894 Page 18 continued...
Belfast Activity Centre Notes to the Financial Statements - continued for the Year Ended 31 Mareh 2023 10. STAFF COSTS - continued The average monthly number of employees during the year was as follows: Period 1.1.21 to 31.3.22 Year Ended 31.3.23 Management and administration Charitable activity and programmes Se&80nal 12 20 16 Remuneration for key management personnel in the year amounted to £95,133.(2022 15 month period £161,550). No employee received emoluments in excess of £60,000. 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds Total funds INCOME AIYD ENDOWMENTS FROM Donations and legacies 386,264 226,950 613,214 Other trading activities Investment income Other income 14,225 14,225 356 356 Total 400,851 226,950 627,801 EXPENDITURE ON Charitable activities Direct costs Support costs 163,563 244,305 255,188 16,250 418,751 260,555 Total 407.868 271,438 679,306 NET INCOMEI(EXPENDITURE) (7,017) (44,488) (51.505) RECONCILIATION OF FUI¥DS Total funds brought forward 709,753 44,488 754,241 Page 19 continued...
Belfast Aetivity Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - eontinued Unrestricted Restricted funds funds Total funds TOTAL FUNDS CARRIED FORWARD 702,736 702,736 12. TANGIBLE FIXED ASSETS Tenant improvements, Belfast ALP and Boathouse Office, camping outdoor equipment Motor vehicles Computer equipment Totals COST At l April 2022 Additions Disposals 1,596,354 116,479 25,755 106,922 5,000 (7,991) 32,179 3,117 1,851,934 33,872 (7,991) At 31 March 2023 1,596,354 142,234 103.931 35,296 1,877,815 DEPRECIATION At l April 2022 Charge for year Eliminated on disposal 1,088,773 63,855 102,875 9,598 78,776 8,287 (7,991) 30,942 1,582 1,301,366 83,322 (7,991) At 31 March 2023 1,152,628 112,473 79,072 32,524 1,376,697 NET BOOK VALUE At 31 March 2023 443,726 29,761 24,859 2,772 501,118 At 31 March 2022 507,581 13,604 28,146 1,237 550.568 13. DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 31.3.23 31.3.22 Trade debtors Other debtors Loan debtor Accrued income Prepayments 73,086 861 81,232 30.758 57,620 336 84,430 1,015 159,392 169.946 Page 20 continued...
Belfast Activity Centre Notes to the Finaneial Statements - continued for the Year Ended 31 Mareh 2023 14. CREDITORS: Amouwfs FALLING DUE WITHIN ONE YEAR 31.3.23 31.3.22 Bank loans and overdrafts (See note 16) Hire purchase (see note 17) Trade creditors Social security and other taxes Other creditors Accruals and deferred income 53,822 6,500 48.289 6,863 4,947 8,047 6,500 42,346 (313) 53,387 41,156 143,076 128,468 15. CREDITORS.. AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 31.3.23 31.3.22 Hire purchase (see note 17) 2,167 8,667 16. LOANS An analysis of the maturity of loans is given below: 31.3.23 31.3.22 Amounts falling due within one year on demand: Bank overdrafts 53,822 17. LEASING AGREEMENTS Minimum lease payments under hire purchase fall due as follows: 31.3.23 31.3.22 Net obligations repayable- Within one year Between one and five years 6,500 2,167 6,500 8,667 8,667 15,167 Page 21 continued...
Belfast Activity Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2023 18. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.23 At 1.4.22 Unrestricted funds General fund Barnett's Project Belfast ALP Boathouse 225,290 115,624 216,799 145,023 (134,477) 91,068 (19,271) (36,237) (12,085) 181,881 96,353 180,562 132,938 702,736 (134,477) 23,475 Restricted funds DFC Capital 591,734 23,475 (23,475) TOTAL FUNDS 702,736 (111,002) 591,734 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrieted funds General fund 314,008 (448,485) (134,477) Restricted funds Belfast Regeneration Offi¢¢ - Youthbuild DFC Capital Department of Justice Belfast City Council Greystone (IOM) Limited BRO Fuel Grant Arnold Clark Community Fund 130,903 23,475 6.000 13,000 40,000 1,500 1,000 (130,903) 23,475 (6,000) (13,000) (40,000) (1,500) (1,000) 215,878 (192,403) 23,475 TOTAL FUNDS 529.886 (640,888) (111.002) Page 22 continued...
Belfast Activity Centre Notes to the Financial Statements - Continued for the Year Ended 31 March 2023 18. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.3.22 At 1.1.21 Unrestricted funds General fund Bamett's Project Belfast ALP Boathouse 147,816 139,713 262,095 160,129 (7,017) 84,491 (24,089) (45,296) (15,106) 225,290 115,624 216,799 145,023 709,753 (7,017) 702,736 Restricted funds Belfast Regeneration Office - Youthbuild DFC Capital ARN N l Tourist Board 13,622 (13,622) 5,500 (30,866) (5.500) (5,500) 30,866 5,500 44.488 (44.488) TOTAL FUNDS 754,241 (51,505) 702,736 Comparative net movem¢nt in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 400,851 (407,868) (7,017) Restricted funds Belfast Regeneration Office - Youthbuild NIO New Beginnings DFC Capital Department of Justice Belfast City Council ARN N l Tourist Board 123,710 25,390 5,500 11.800 16,250 22,300 22,000 (137.332) (25,390) (13,622) 5,500 (11.800) (16.250) (53,166) (27.500) (30.866) (5,500) 226,950 (271,438) (44,488) TOTAL FUNDS 627,801 (679,306) (51,505) Page 23 continued...
Belfast Aetivity Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2023 19. RELATED PARTY DISCLOSURES Ardaluin Regeneration Trus( is an unincorporated charity with Trustees in common. Belfast Activity Centre looks after some of the administration on behalf of Ardaluin Regeneration Trust, while Ardaluin Regeneration Trust provides services to Belfast Activlty Centre on a commercial basis. Included in creditors is a balance due to Ardaluin Regeneration Trust of £277. (2022 debtor of £30,758). Page 24
Belfast Activity Centre Detailed Statement of Flnancial Activities for the Year Ended 31 March 2023 Period 1.1.21 to 31.3.22 Year Ended 31.3.23 INCOME AIYD ENDOWMENTS Donations and leg2cies Donations Grants Activity income 5,217 215,878 283,665 1,889 302,194 309,131 504,760 613,214 Other trading activities Abseil Incorne Rathlin Run 24,928 14,110 115 24,928 14,225 Investment income Deposit account interest Other income Other income 198 356 Total incoming resources 529,886 627,801 EXPENDrruRE Charitable activities Wages Social security Pensions Open award & expedition costs REC / BEL training costs Fundraising costs Catering & accomodation costs Transport Costs Sundries Staff training and membership Programme costs 308,161 19,769 11,394 611 2,000 3.929 1,352 17,452 4,667 10.498 29,195 295,264 18,972 15,327 1,478 900 4,150 7,469 13,879 2,961 58,351 409.028 418,751 This page does not forni part of the statutory financial statements Page 25
Belfast Activity Centre Detailed Statement of Financial Activities for the Year Ended 31 March 2023 Period 1.1.21 to 31.3.22 Year Ended 31.3.23 Support costs Finance Bank charges Hire purchase 2,334 607 3,186 480 2,941 3,666 Other Wages Social securlty Pensions Barnetvs establishment costs Insurance Advertising and promotion Office expenses Legal and professional costs Freehold property Fixtures and fittings Motor vehicles Computer equipment 49,812 3,592 1,497 33,089 16,611 1,980 47,828 4,102 401 37.248 17,218 3,466 11 18,707 9,455 63,855 9,598 8,287 1,582 21,356 9,918 89.481 637 12,794 5,327 218,065 249,776 Governance Costs Auditors, remuneration Accountancy and l¢gal fees 10,854 3,000 4,113 10,854 7,113 Total resources expended 640.888 679.306 Net expenditure (111,002) (51,505) This page does not forni part of the statutory financial statements Page 26