Belfast South Nelwork Company Statement of Financial Aetivities for the Year Ended 31 December 2022 (Including Income and Expendlture Account and Statement of Total Rccognised Gains and Losses) Unrestrict¢d funds Endowment futtds TotAI 2022 Nott Income And Enduwments from: Doiialions legacics Cliariiable aciiviliLS 8,61)8 54,()21 8,698 54,921 'rolal iiiLoiiic 63,619 63,619 xpenditure on: Lhui'itabli ii¢'livilies 88,600 131,04()1 lal expLndiliirc (88,()nii 42.446) Nbt elpindiliii'e Net iiiovei)Icnl in ILinds 24,9811 142.446) 167,4271 (24,9S I ) (42.446) 167.4271 ReconclllAtloii of fun(Is T(Ilal funds brouglil lorward Tuiol fuiids carri¢d fonvard 96,058 1,470,446 1,566,504 16 71.077 1,428,000 1,49(),077 Unrestrleted fuiids F.iidowment fundg TotAI 2021 Note lrtcome an(1 Endowments froiii: l)i)natii)1is und Qharildblc ULtivitiL. 13,(?08 57,205 13,608 57,2115 Tolal inLoinc 70,813 70,813 xi?ciidltur¢ ott: Clidril(Ibl¥ iiciivilie.8 56,8(?2 42.446 99,3081 oiul LxpLiiditui'¢ N¢1 i11LUI))cllexpeiidilurcl 56,862 42.446 )(1,30X 42,44() 28,4951 N¢t Inovciiient iii tunds 13,951 {42,4461 (28,4951 ReconcillAtlon of funils Total fuiids broughi loi'wai'd 82,107 1,512.111)2 1,594,999 Total tLinds carried forward 16 96,058 1,470,446 1,560,504 All ot thc chai'ity'8 activities dcrive from continuing opei'ations during the above two pcriod5. The notes on i)age8 13 to 21 forin an iniegral part of Ihesc financial slateiiients. Pagell Belfast South Network Company (Registration number: N1603341) Balance Sheet as at 31 December 2022 2022 2021 Note Fixed Assets 'I'angible assets 12 1,774,317 1,821,422 Curi'ent fissets Dcbtoi's Casl) al bank llnd in hand 13 14 12,958 37,846 16,305 55,692 50,804 71,997 Credltors: Amounts fxlllng due wltliln one yeftr Ntt current IIAbllltles 15 326.1144 32(),915) (275.240) 1,4()(),1177 254.918) 1.5611.504 Net assets Funds of the ehwrlty: Endowmciit 1,428,000 1,4711,440 Unregtrlcted Income funds Unrestricted 71,077 96.058 1,566,504 TotAI fuiids 16 1,49().1177 I,()I' tlie linanciol year ¢11diiig 31 DcLeiiibcr 20?2 th¢ chnrity wus LiiliilLd to exemptic)n Irum audit under S¢Lti()n 477 ol IliL L'ompuni¥s Ail 2006 relaling t() small koi))PQliiC8. DircLtor8' rLsponqibililics'. 'l-hi mcnib¥r% huvL not r¢quired thL choi'ily lo nbiain an uudil of 11$ ULcoiint¥ for ihL ycur in qu¥stion in uccoi'dancc willi YLclioii 476; and 'rhL dirLuli)r% iiLkniiwlLdgL ilieii. rLspoiisibilitics l(Ir ¢uini)lyiiig with thr ru'quireinents ol. IhL Act ￿'ll17 respect l() uccoiinling r¢¢oi'ds and IhL prLparulii)n ol. ¢iLUI)Iinls. 'riicsc a¢couiilS liav¢ bccn pruiiured iii aL¢oi'dance with the provisioiis appliLable lo c()Inpaiii¢3 8ubj¢¢l lo Ilic sii)all ¢niiipaniLs r¢giin¢. 'h¢ liiioiiciiil sliil¢inLnis i)n p(IgLs 11 111 21 wcr¢ approved l)y Ilio trii8lce8, llnd aiiihoris¢d lor issiie 011 25 Sui)IcinbLI' 2023 aiid signLd on iIILiI' bcliali. by.. Rcv¢rciid F l-lylund Chairi)Lf50n TI'u51LU The notes oli pages 13 to 21 fortn an int¢gral part of these financial statemcnts. Page 12 Belfast South Network Company Notes to the Financial Statements for the Year Ended 31 December 2022 I ChArlty status The charilv is limited by guarantee. incorporat¢d in Nortlicrn Ireland, And conqequenily dous not have share capital. Eaeh of ihL iru.4lees is liable to Lolltribule an ￿naUnt not cxc¢¢ding £ I iom'ards the &$8Cts ot. Ilic Lharity in the cvcnl of liquidalion, The uddress of its registered orrice is,. 236-2()6 1.i.%burii Road 13elltig1 Bl'9 6(iF 'riicsc fiiiaiiiial staicmenls w¢i'c auiliorised ltir issuc by Ilic Iru3lo¢s on 25 SLptcmbcr 2023, 2 A¢¢ouiiting pollcles Summfiry of slgiiificant Rccountliig poll¢ies And key AccountlnE estlmat¢s 'hL principiil aeL(iiiiiling poli¢io8 tsppIiLd in thu pi'Lpurclti(In uf iliese finunciiil Si<LmLnls ure 8¥1 oul b¢low. 'IIc.%L poIiLiLS liilvc bcLn eoi)sisl¢iiily appli¢d lo oll the yLars prLsciil¢d, uiilLss oiliLrivisL slated. StRtemoiit of compllRn¢¢ I'he financiul .slut¥nients huve been pr¢pured in accorduncc iviih Accounling and Repoiting by Charilie8', lalLIIILiII of RcLoinmciided PraclicL applic' rLLI)8ni$cd al l)isiorical co%t or trongaution valu¥ ui)lesg (Iihurwise slaled in ihe rL'ILvaiit a¢counling policy notes, Goln% conc¢rn 'rii¢ fiiianiial 8tal¢iiiciits l)avL beiii prepoi'ed oil a g()i118 collLei'n bosi.8. Tlic triislce8 usscss ￿'hell]cr Ilie u%L of going concern 1.1 approprilllc i.e. whcili¢r IhLrL are any In4tLrllll Liiic¥rlainliLS rcl&tLd lo ¢v¥nls i)r c()ndilioiis Iliai iiiay Lost sigiiilicaiit (loul)l Lili tlic ability ol. Ili¢ Lh&i'il>' lo 01)linii¢ kJ8 u goiiigv con¢crii. 'I'hLb tl'U8LCCS make iliib a$%e881neii( iii rcspcLi of a p¢i'iod ol. oiic ycui. fi'oni thc dat ol'oppi'ov&l i)t'the liiianLial .8tal¢iii¢nls, Income find endowments All inLomL is I'¢vogJniscd onc¢ th¢ chai'ily has eiiliilLment to the income, it is probable thal the income w'ill be r¢ceivLd and the amount of the in¢ome receivabl¢ can be Ineasiired reliably. Page 13 Belfast South Network Company Notes to the Financial Statements for the Year Ended 31 December 2022 Donulions legacles Donatioiis ar¢ r¢eo8nis¢d when Ili¢ ¢li#rity has beeii iiotifia in writiiig of both tlie ainount and sLttleineni date. In the event that a danlltion 1.8 subject to coiidilioiis Ihal requir¢ a level of pei'fnrman¢¢ by the Lharily hetoi'¢ th¢ Lharity is cnlitl¥d i() Ihb tuiids, Il)¢ incomL is detei'rvd and not rc¢ognised uiilil eitlier thosL ci)nditioiis gre lully Incl, or thc fulfiliiieni of those ¢undilion8 is wholly wiihin the ¢onlrol of thc charity and it is probabl¢ thai Ih¢se cc)nditions will be tulfilled iii thc rcporliiig period, L¥ga¢y gill5 are I'ccognis¢d on a Lasc by ¢&8L hasis follo￿.ing tl)e g)rant ol. piobaltt ii'l)en Ilie adiiiinistrat()I'lLxeLutor foi. Ilie estalc has coininiinicated in wriliiig boili ilie amoiinl aiid s¢iileineiil dale. In Ili¢ evLnl Ihat ihe gift is in th¢ lorm ()[ an a%sLI oih¢r Ihiin or u Iinan¢ial assLI trudLd on ¢1 reLngni%ed stock ¥x¢liaiigu, r¢L()gnilion 18 subjttLI lo Ilie valu¥ of Il)L gilt l)¥ing r¢liably mLasui'abl¢ wiih a degi'c¢ of rcugoiiable aLciiraiy and th¢ title io the asset haviiig l)een Ii'aiisl'crred ic) tlie cliarily. Grllnl.f recelv¢ible CTraiil8 al'c I'cLogiii$cd whui) IhL cliarily has lln enlitlcmenl to the funds and aiiy ioiidilioi)¥ liiikcd lo the gjranls li&ive l)Lbn iiiLI. WlILrL PLrl()riiiun¢¢ i()iidilioiib Iirl allachLd i() Ilib granl oiid arL ybl l(1 be Ill￿1, th¢ incoiiic 18 r¥¢ognisLd us u liabilil), uiid includ¥d on tlic bulon¢L sh¥Lt os dLI'¥ri'¥d incomL to bu r¥lLus¥d. b.xpendlture All ixp¥nditiirL is rLc()gnis¢d onLe Il)Lre is a1¢8nl nr LonslruLlivL oblig' transfers lo wioilier purty subslanlially all of thu risks dnd r¢￿'ards ot. owi)¢rship ot. tlic tinaiicial asset, or cl Ilic charily, despite liaiiing TLlai1lLd soinkn. bul not all, signilicaiil risks aiid I'ewards of own¢rship, has transferred coiilrol of the asset to unoihcr party. rinaiicilll liabilities aru dcrccogni5Ld onlv whcn thc ubligation sp¢¢ified in the Loiitrarl is discharged, ¢aii¢ell¢d oi. expire$. Page 16 Belfast South Network Company Notes to the FinanclAI Statements for the Year Ended 31 December 2022 3 Income from donRtions plld legacies Unrtstrlcted funds Endownient funds Tot81 2022 Tot41 2021 Gener&1 PermAn¢nt Doiialii)ni and legacie8: Doiialions from ii)dividiials 60 8,211 60 8,211 ()30 10,417 Grunls, incliiding cthpital grants; Gtsverniii¢nl gronl8 427 427 2,51)1 8,()98 11,698 13,608 4 Income from chRrlt*ble Actlvltles Unrestrlcted full(Is General Endowment fullds PcrmAnen¢ TotAI 2022 TotAI 2021 ProvisiDI) of coinmunity ftscilili¢8 54,()21 54(J21 57,205 5 Expeiidlture on chNrltAblt Aetlvltlej Uiirestrlcted funds Endowment nds TotAI 2022 TotAI 2021 GenerAI PermAiient Note Piovision cil. 54,384 54,384 35,122 r)cpi'LLiiIIi()11, iiiortisolioii and oilici. %imilar cnsls Cyrdiil luiidii)g L)I' cliviii¥s turr costs Crovul'nF￿ets L08ts 15,235 42,446 57.681 56,623 iu,000 7.531 1,450 i u,1100 7.S31 1.450 6,113 1.450 88,OOQ 42,446 131,046 99,308 Page17 Belfast South Nelwork Company Notes to the FI￿ancial Statements for the Year Ended 31 December 2022 6 AnAlysis of gov¢rnAnce %nd support costs Govern8rtee costs Unrestrlcttd Endowment Total 2022 Total 2021 GeiierAI PermRiieiit IndLpend¢nl examin¥r f¢es Examinutioii ol'ilie linancial stal¢mLiit8 1,450 1,450 1,450 1,450 1,450 1,450 7 Net Incomliigloutgolng re50ure¢s Nel oiitgoing rcyour¢L.4 loi. Ih¥ y¢ai' include,. 2022 2021 DLpfLLiulion of fixed ab.8¢ts 57,fi81 8 Trustees rtmunerAtlon exi)enseJ No Iriis1¢¢8, nol. any pei'sons connected with theiii, have r¢¢¢iv¢d uny reiiiunlralion froin the charity dLiring th¥ yLar. No Irusle¥5 have reLLived any rcimbursLd expLll5cs or any oilicr bcnetits troin th¢ ¢liarily during tlie y¢AI'. 9 StAff tosts 'I'lie aggi'LgalL l)ayroll cn8ts wei'c a8 lollow8'. 2022 2021 StAff eo8t.q during the ytAr were: )8Lg aiid qcildri¥.q 7,531 6,113 'rhc monthly avcra8¢ number of pcr50n$ {inLludin8 sLnini' managemenl l¥am) L'mploy¢d by ihL chai'ily dliring Ilie year expi'es,8¢d as lull liinc ¢quivalLntg was a8 follows.. 2022 2021 Adminislralive 8taft' No employee r¢ceiv¢d einoluiii¢nls ofmore than £60,000 during the year. Page 18 Belfast South Network Company Notes to the Financial Statements for the Year Ended 31 December 2022 10 Independent ¢x8miiier's remunerAtloll 2022 2021 Examination of the financial St￿teMentS 1,450 1,450 I I T4XAtlon 'I'lic cliarily is a r¥¥g)isiered chai'ity and is thcrLfor¥ cxempl from taxation, 12 T Aiigible flxtd #ssets L*nil And buildlngs Furnltiire And cquii)ment TotAI Cost Ai l Junuury 2022 Additi()ns 2,130,901 141,757 10,576 2,272.658 111,576 Al 3 l D¢LeinbLI' 2022 2.130,901 152.333 2,283.234 Dei)reclAtlon At l Jai)Iiury 2022 Cliarg¥ for thL year 339,368 42,446 111,868 15,235 451,236 57.(181 At 31 Deceimbei. 2022 381.814 127.103 5011,917 Net book VAIu¢ At 311)uc¥mber 2022 1.749,a87 1,774,317 At 31 DLLeMber 2021 1.7()1.533 29.88() 1,821.422 13 Debtors 2022 2021 Ti'udc dLhior.I V A'l. I'ccovcrable 8,999 16,305 12,958 16,.105 14 CAsh Aiid cAsh eqMlvAlents 2022 2021 Cash at bank 37.846 55,692 Page 19 Belfast South Network Company Notes to the Financial Statements for the Year Ended 31 December 2022 IS Creditors: Amounts folling due within olle yeAr 2022 2021 Trade crcditor5 QihLI' Iouiis VAT payablc 4.957 321,087 5.248 321,087 580 32(),044 326.915 16 Funds BAIHiice At31 D¢combor 2022 BRIAnec At I Jaiiiifiry 2022 Iiicomlng resoiir¢e$ Rosourceg exi)eii(leil Unrestrlcted Ci¢n¢ral 96,058 63,619 (88,600) 71,077 FJndowment lJeri))aneni 1.470.446 42,4461 1,428,000 TotAI funds 1,566.504 1,491).077 IJRIRIicc Rt J I De¢¢mber Balfinte At I JMnuAry 2Q21 Incomlllg resoiirces Resources exp¢iid¢d 2021 Unrcstrlct¢d GLIILral 82,107 70,813 {56,862) 96,1158 Eiillowment )crinanLnl 1,512,892 42,446) 1,470,446 TotAI funds 1,5()(),504 Page 20 Belfast South Network Company Notes to the Flnanei21 Statements for the Year Ended 31 December 2022 17 AnAlysis of net Assets betwten funds TotAI fuiiijs h¢ 31 Dec¢inber Unrestrieted Central Elldownient P¢rmAiient 2022 Taiigible fixed asscls CLlI'I'enl uss¢lS Ciii'rcnt liabililies 25,230 50,804 {4,9571 1,749,087 1,774,317 50.804 326.0441 321,0871 1.otal ncl asS¢IS 71,Q77 1,4?11,000 1,491),077 TotMI fuiids Mt 31 Defeinber Unr¢strieted Gcncr*l F.ii(lownient PermHn¢nt 2021 'I'angiblL liked u%sels Ciiri'enl 29,889 71 <)97 5,828) 1,791,533 1,821,422 71,997 326,9151 321,087 ()lal nel ass¢ls 96,Q5R 1,470.446 1,566,504 18 AnRlyBls of net funds Atjl D¢¢tnibtr 2022 At l JRnuAry 2022 Cash flow Cagh ul l)aiik oiid in hand l.)¢bi due wiil)in ()ii¢ y¥ai' 55,692 321,OR7} (17,846) 37,846 321,0871 Net dcbi 265,395 1283.2411 At31 Deceiiiber 2021 At I JAnuAry 2021 Cxsh flow Casli ui bunk und in hand D¢bi due within one y¢ar 33,726 (321.087) 287,361 21 IJ66 55.692 321.087 Nel debt 21,966 265,3951 Page21