Company Registration Number: NI 41704
Charity Registration Number: NIC101493
Falls Community Council
Company Limited by Guarantee
Financial Statements for Year Ended 31[st] March 2023
W J Johnston & Company
Certified Public Accountants
190 Duncairn Gardens Belfast BT15 2GN
1
## Falls Community Council
## Company Limited by Guarantee
Financial Statements for Year Ended 31[st] March 2023
||Page|
|---|---|
|Reference & Administrative details|3|
|Independent Accountant’s Report to the Members|4 - 7|
|Statement of Financial Activities (Including income & Expenditure account)|8|
|Statement of Financial Position|9|
|Notes to the Financial Statements|10 - 15|
2
Falls Community Council
## Company Limited by Guarantee
Financial Statements for Year Ended 31[st] March 2023
Reference & Administrative Details
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the Charity for the Year ended 31[st] March 2023.
## **Reference & Administrative Details**
**Registered Charity Name:** Falls Community Council Ltd **Charity Registration Number:** NIC101493 **Company Registration Number:** NI 41704 **Registered Office:** 275 / 277 Falls Road Belfast BT12 6FD
## **Trustees**
Elizabeth Groves Harry Maguire Chrissie McAuley
**Accountant:**
W J Johnston & Company 190 Duncairn Gardens Belfast BT15 2GN
## **Bankers:**
Bank of Ireland 202 Andersonstown Road Belfast BT11 9EB
3
Falls Community Council
## Company Limited by Guarantee
## Independent Accountant’s Report to the Members of Falls Community Council
Year Ended 31[st] March 2023
## **Opinion**
We have examined the financial statements of Falls Community Council (the Charity) for the Year ended 31[st] March 2023 which comprises of financial activities (including Income & Expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and UK accounting standards, including FRS102, the Financial Reporting Standard applicable in the UK and Republic of Ireland. (UK Generally Accepted Accounting Practice)
This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our work has been undertaken so that we might state to the Charity’s members those matters that we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body, for our work, for this report, or for the opinions we have formed.
In our opinion the financial statements:
- Give a true and fair view of the state of the charity’s affairs as at 31[st] March 2023 and of its incoming resources and application of resources, including its income & expenditure for the year then ended;
- Have been properly prepared in accordance with UK Generally Accepted Accounting Practice;
- Have been prepared in accordance with the requirements of the Companies Act 2006
## **Basis for Opinion**
We conducted our examination in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the accountant’s responsibilities for the preparation of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our preparation of the financial statements in the UK, including the FRC’s Ethical Standard and the provisions available for small entities, in the circumstances set out below, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
APB Ethical Standard – Provisions available for small entities
In common with many other businesses of our size and nature we use accounants to assist with the preparation of the financial statements.
4
Falls Community Council
## Company Limited by Guarantee
Independent Accountant’s Report to the Members of Falls Community Council _(Continued)_ Year Ended 31[st] March 2023
## **Conclusions relating to going concern**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- The trustee’s use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- The trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Charity’s ability to adopt the going concern basis of accounting for a period of at least 12 Months from the date when the financial statements are authorised for issue.
## **Other information**
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion theron.
In connection with our preparation of the financial statements, our responsibility is to read the other information and in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the preparation or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of other information. If based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the accounts:
- The information given in the trustee’s report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- The trustee’s report has been prepared in accordance with applicable legal requirements
5
Falls Community Council
## Company Limited by Guarantee
Independent Accountant’s Report to the Members of Falls Community Council _(Continued)_
Year Ended 31[st] March 2023
## **Matters on which we are required to report by exception**
In light of the knowledge and understanding of the charity and its environment obtained in the course of the accounts, we have not identified material misstatements in the trustee’s report.
We have nothing to report in respect of the following matters in relation to which 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; or
- The financial statements are not in agreement with the accounting records and returns; or
- Certain disclosures of trustee’s remuneration specified by law are not made; or
- We have not received all the information and explanations we require for our audit; or
- The trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the director’s report and from the requirement to prepare a strategic report.
## **Responsibilities of Trustees**
As explained more fully in the trustees’ responsibilities statement, the trustees who are also directors 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 statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Accountant’s responsibilities for the preparation of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error and to issue an accountant/Examiners’s report that includes our opinion. Reasonable assurance is a high level of assurance 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 in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
6
Falls Community Council
## Company Limited by Guarantee
## Independent Accountant’s Report to the Members of Falls Community Council _(Continued)_
## Year Ended 31[st] March 2023
In accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
- Conclude on the appropriateness of the trustees’ use of going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
## _W J Johnston & Co_
190 Duncairn Gardens Belfast BT15 2GN 5[th] December 2023
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Falls Community Council
## Company Limited by Guarantee
## Statement of Financial Activities (including Income & Expenditure)
## Year Ended 31[st] March 2023
||||**2023**|**2022**|
|---|---|---|---|---|
||Unrestricted|Restricted|Total|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|**Income**|||||
|Charitable activities(_See Note 5)_|39,328|852,051|891,379|793,057|
|Other Trading activities_(see note 6)_|103,821|0|103,821|201.171|
||-----------|--------------|-------------|-------------|
|**Total Income**|143,149|852,051|995,200|994,228|
||=======|========|========|========|
|**Expenditure**|||||
|Expend. on Charitable Activities_(see note 7)_|(5,450)|(203,586)|(209,036)|(229,371)|
|Expend. on other trading activities_(see note 8)_|(93,598)|(674,541)|(768,139)|(741,970)|
||--------------|---------------|---------------|---------------|
||(99,048)|(878,127)|(977,175)|(971,341)|
||========|=========|=========|=========|
|**Net Income & Net movement in funds**|44,101|(26,076)|18,025|22,887|
||=======|=======|=======|=======|
|**Reconciliation of Funds**|||||
|Total funds brought forward|111,313|69,158|180,471|157,584|
||-----------|----------|-----------|------------|
|**Total funds carried forward**|155,414|43,082|198,496|180,471|
||=======|======|=======|=======|
The statement of financial activities includes all gains and losses recognised in the Year. All income and expenditure derives from continuing activities.
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Falls Community Council
## Company Limited by Guarantee
## Statement of Financial Position As at 31[st] March 2023
|_____________________________________________________________________________|_____________________________________________________________________________|_____________________________________________________________________________|
|---|---|---|
||**2023**|**2022**|
||£|£|
|**Fixed Assets** _(see note 9)_|7,639,999|697,490|
|**Current Assets**|||
|Sundry Debtors_(See note 10)_|271,110|227,093|
||-----------|-----------|
||271,110|227,093|
|**Current Liabilities**|||
|Cash at Bank & in Hand|39,267|6,766|
|Creditors_(see note 11)_|337,062|359,895|
||-----------|-----------|
||376,329|366,661|
|Net Current Assets/(Liabilities)|(105,219)|(139,568)|
||--------------|-----------|
|**Net Assets**|7,534,780|557,922|
||========|=======|
|**Funds & Reserves of the Charity**|||
|Restricted Funds|72,500|76,108|
|Unrestricted Funds|144,219|52,500|
|General Reserves|7,318,061|429,314|
||--------------|-----------|
||7,534,780|557,922|
||=========|=======|
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
These financial statements were approved by the board of trustees and authorised for issue on 5[th] December 2023 and are signed on behalf of the board by:
_________________________
Chrissie McAuley
## Falls Community Council
9
Company Limited by Guarantee
Notes to the Financial Statements
Year Ended 31[st] March 2023
## **1. General Information**
The charity is a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The registered office is: 275 / 277 Falls Road, Belfast BT12 6FD
## 2. **Statement of compliance**
These financial statements have been prepared in compliance with FRS102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and is the statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS102) (Charities SORP (FRS102)) and the Charities Act (NI) 2008.
## 3. **Accounting Policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in Pounds Sterling.
There are no material uncertainties about the charities ability to continue.
## **Judgements & key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity’s purposes.
Designated funds or restricted funds are funds earmarked by the trustees for particular future project or commitment. They are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.
10
## Falls Community Council
## Company Limited by Guarantee
## Notes to the Financial Statements _(continued)_
## Year Ended 31[st] March 2023
Accounting policies _(continued)_
## **Incoming resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- Legacy income is recognised when receipt is probable and entitlement is established.
- Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is classified under headings of the statement of financial activities to which it relates:
- Expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities and the sale of donated goods.
- Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs relating to the governance of the charity apportioned to charitable activities.
- Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
11
Falls Community Council
## Company Limited by Guarantee
## Notes to the Financial Statements _(continued)_
## Year Ended 31[st] March 2023
Accounting policies _(Continued)_
## **Financial instruments**
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. They are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Other financial instruments including derivatives are initially recognised at fair value unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate in which case, the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence or impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been, had the impairment not previously been recognised.
## 4. **Limited by Guarantee**
Falls Community Council is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member or within 1 year after he or she ceases to be a member.
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Falls Community Council
## Company Limited by Guarantee
## Notes to the Financial Statements _(Continued)_
## Year Ended 31[st] March 2023
## **5. Charitable Activities Income**
|||**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|
|||**Funds**|**Funds**|**2023**|
|||**£**|**£**|**£**|
||Belfast City Council (BCC)|5,328|67,759|73,087|
||Dept. for Communities (DFC)|0|281,459|281,459|
||The Executive Office (TEO)|0|263,006|263,006|
||Community Relations Council (CRC)|0|36,229|36,229|
||Belfast Health & SC Trust (BHSCT)|0|229|229|
||NICVA|0|750|750|
||Dept Foreign Affairs (DFA)|0|10,656|10,656|
||The Rank Foundation|34,000|0|34,000|
||Peace IV|0|76,605|76,605|
||Heritage Lottery Fund|0|19,088|19,088|
||Ulster Wildlife|0|60,861|60,861|
||WB Network|0|31,409|31,409|
||Department of Justice (DOJ)|0|4,000|4,000|
|||---------|-------------|-------------|
|||39,328|852,051|891,379|
|6.|**Other Trading Income**||||
|||**Unrestricted**|**Restricted**|**Total**|
|||**Funds**|**Funds**|**2023**|
|||**£**|**£**|**£**|
||Self-generated Funds|103,821||103,821|
|||-----------||-----------|
|||103,821||103,821|
|7.|**Expenditure on Charitable Activities**||||
|||**Unrestricted**|**Restricted**|**Total**|
|||**Funds**|**Funds**|**2023**|
|||**£**|**£**|**£**|
||Advancement of Community Development||||
||& projects|0|203,586|203,586|
||Support Costs|5,450|0|5,450|
|||--------|-----------|-----------|
|||5,450|203,586|209,036|
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Falls Community Council
## Company Limited by Guarantee
## Notes to the Financial Statements _(Continued)_
## Year Ended 31[st] March 2023
## **8. Expenditure of other trading activities**
( _these funds have been deemed ‘restricted’ by the Charity themselves_ )
||**Unrestricted**|**Restricted**|
**Total**|**Total**|
|---|---|---|---|---|
||||**2023**|**2022**|
||**£**|**£**|
**£**|**£**|
|Wages / Salaries (inc Er NIC)|79,238|523,962|
603,200|577,612|
|Pension Costs|1,550|8,088|
9,638|8,266|
|Travel|1,405|5,050|
6,455|5,631|
|Stationery & Office equip & IT|2,005|20,020|
22,025|14,966|
|Overheads|0|24,939|
24,939|28,306|
|Other Expenses|9,400|92,482|
101,882|107,189|
||-----------|-----------|
------------|------------|
||93,598|674,541|
768,139|741,970|
|There was 18 staff employed in this 12 Month Period. No employee received employee||||benefits.|
|During the year no trustee or person connected with them has|||received any remuneration from the c||
|No trustees have received any other benefits from the charity during the year.|||||
|**Fixed Assets**|||||
|||NBV @|Depreciation/|NBV @|
|||01/04/2022|Amort.|31/03/2023|
|Computers & Equipment||56,323|(16,324)|39,999|
|Premises at 275 / 277 Falls Road||300,000|0|300,000|
|Premises at St Comgalls||341,167|6,958,833|7,300,000|
|||-----------|-------------|--------------|
|||697,490|6,942,509|7,639,999|
|**Debtors**|||||
||||**2023**|**2022**|
|Debtors|||||
|Amounts owed by group undertakings in|||||
|which the charity has a participating interest|||103,856|158,033|
|Other debtors|||167,254|69,060|
||||-----------|------------|
||||271,110|259,239|
During the year no trustee or person connected with them has received any remuneration from the charity.
## **9. Fixed Assets**
## **10. Debtors**
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Falls Community Council
## Company Limited by Guarantee
## Notes to the Financial Statements _(Continued)_
## Year Ended 31[st] March 2023
|**11. Creditors**|||
|---|---|---|
||**2023**|**2022**|
|Sundry Creditors (_Grants in Advance_)|0|1,048|
|Other Creditors|337,062|358,847|
||------------|------------|
||337,062|359,895|
|**12. Analysis of net assets between funds**|||
||**Unrestricted**|**Restricted**|**Total Funds**|
|---|---|---|---|
||**Funds**|**Funds**|**2023**|
||**£**|**£**|**£**|
|Current Assets|159,343|72,500|231,843|
|Fixed Assets|7,639,999||7,639,999|
|Creditors|(337,062)||(337,062)|
||-------------|---------|--------------|
||7,462,280|72,500|7,534,780|
||========|======|========|
15