CONWAY MILL PRESEI RVATION TRIIST LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2018 { A COMPAPIY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL) COMPANY REGISTRATION NUMBER N1037461 CHARITY REGISTRATIOIY NUMBER NIC 101569 O'HARA SHEARER CHARTERED ACCOUNTANTS AND STATUTORY AUDITORS 547 FALLS ROAD BELFAST BTII 9AB
CONWAY MILL PRESERVATIOP4 TRUST LIMITED FINANCIAL STATEMENTS FOR THE Y1< AR ENDED 30TH NOVEMBER 2018 COIYTENTS Page Members and Professional Advisors Trustees Annual Report (includtng the Statement of Trustees Responsibilities in respect of financial slatemcnts) Report of the Independent Examiners to the Tivstees, Accounting Policies 9-11 Statement of Financial Activities (incorporating the income and expenditure accour 12 Balance Sheet 13 Notes to the Financial Statements 14-19
CONW AY MILL PRESERVATION TRUST LIMITED FINANCIAL STATEMETr4TS FOR 'fHL YEAR ENDED 30TH NOVEMBER 2018 OFFICERS AND OTHER INFORMATIOIY Director8 Sarah Brennan Jane Bui'ns Andrew L)onnelly Registered Office The Mill 5-7 Conway Street Belfast BT13 2DE Independent Kx2miners O'Hara Shearer Chartei'ed Accountants and Statutory Auditoi's 547 Falls Road Belfast, B Tl19AB Solicitory Delaney & Co. Solicitoi 54 Andersonslown Road Belfast BTI19AN Banliers Danske Bank Business Banking PO Box 183 Donegall Square West Belfast BTI 6JS Compally Registration Number Nl 037461 Charity Commission Northern Ireland NIC 101569 Charity Registrxtion Number XR 35921 Page I
Conway Mill Preservation Trust Ltd. Trustees, Annual Report From I" December 2017 . To 30, November 2018 Charity no. 101569 Date registered. 2710812015 Bac The Conway Mill Preservation Trust Ltd. was established In 30-11-1999 with the alm of preservingi protectlng, and restoring the mill complex for the beneflt of the inhabitants of Belfast and of West Belfast in partlcular. Its main functions are,. Overseelng the restoration of Conway Mlll,, En5urlng that the buildlng's hEritage Is preserved for future generatlons: Developing projects and mediums thiough whith visitors, from near and far, can interpret the building5 and the social history of the linen industry and Belfast., Organising event and tralnlng related to local heritage preservation; MaintaSnln8 the buildings and slte and documenting all works. After an extensive refurblshment, Itompleted In 20111, the Mlll is now one Belfasvs best preserved and most irnportant historical buildin8s. It provides a unlque multi-functional space, atthe same time preservlng the local Industrial heritage and history of the area. The mill comprises: Two main blocks Ilnked by a 8lass roof with an inner Courtyard; car parks to the front and rear of the complex. Facilities within the Mill Complex include.. Disability access; 53 Business units, Hlgh speed Wi-Fi connection,. Service1Sfts,' Toilet facillties,. Free onsite parking as well a5 available street parking. The Conway Mill Is one of the last remaining Mill sites in Belfast, and the only one in West Belfast, whl¢h is community-owned. In economlcally devastated West Belfast the Trust recogni5es the need for local tommunities to maintain ownership and eofitrol of assets and resources which can be used to pyovlde opportunities for people to become artive players in the local economy and to improve their quality of Ilfe. CMPT Charitable r)b'ectives are.. To preserve for the benefit of the Inhabltants of Belfast and In particular of West Belfast whatever of the hlstorical, archltectural and constructural herltage may exlst In and around the Conway Mill Complex in the form of buildlngs of particular beauty or historical, architecturhl or constructionol Interest.
ServlclnE of Lifts was also completed All gas bollers were services and ¢ertifSed Facilitatlon of business develo ment The CMPT offers affordable rental units that provlde the essential space for business development and growth. The direct Impact is lowefed employment rates lotally. Our Tennant body is drawn for the broad Belfast base and further afield. This raises the profile of the West Belfast neighbourhood and promotes inclusion, innovation, creativity and entrepreneurship. 53 business units are presently oetupied wlthin the two maln Mill blocks. Tenants comprise.. Architecture & Design,. Arts & Crafts; Community organisations, EngineerinBI Hospitality. Insurance. Music, Media and Productlon,, ICT; Tourism and Lelsure,. Legal. Promotion of educational o ortunities Facilitation of local and internatlonal students via tours of the complex are on-goin. Students of archltecture, engineering, history and international studies are generally among the beneficiarles. Local schools, theatre companies, local artists, heritage bodles and museums have all been provided with Space for exhlbltiontr performance, workshops, film and documentary and outreach each attracted visitors to the Mill from across the city and beyond. Develo economic o ortunities The Trust has been advised to Instruct our sollcitor to draw up a formal 'Deed of Release, to be submitted to DEtI to enable the executSon of an order to clear a Charge from the tltle deeds In Companies Registry. This work is ongolng. Identlflcation of three new business venturès will contribute to the preservatlon of the complex Creation of a Museumlshop wlll provlde the local communlty wlth a focal polnt for Informètlon on the Mlll and its history and will provide an otjtlet for the Artists at the Mill to sell creatlve pleces. The developmènt of resources for the Atrium space will enable the delivery of a selettion of events/functlon th3t will draw people to the Mill and ralse the praflle of West Belfast. Cr)ntributlng to the local economic regeneratlon. Plans for buslness Incubatlon workspaces will create more opportunltles for start-up business remain's In place.. As one of our new business modelg, achieving this goal will beneflt local entrepreneurs, promote employment locally and generate Income for the Mlll that can be re- invested back into the complex. Promote Tourism Ioc211 Discusslons with Failte Feirste Thair and the Belfast Welcome Centre has been Initiated and the Trust is Èxploring the development of the Llnen Quarter in Belfast City with a view to developing linkages to any future tourlsm trails. Im roved health and wellbein
A statement of the maln ur Oses as defined b the charlt commission is.. The advancement of environmental protection or Improvement. Whodo we help Tenants Voluntaryand community sector Interface tommunities Students Ethnic minorities Speciflc areas of deprivation Howdo we dothis: The refurbSshment of the two main blocks within the Mill complex has provided great benefits to the area. The board of Trustees continues to work to.. Tackle dereliction Facilltate business development Promote educational opportunities Develop economic opportunities Promote Tourism locally Improved health and wellbeing for the people of the area Haw DO THE5EAcfiviTIES PROVIDE A BENEFIT? During thè period 1st December 2017- 30 NDvember 2018 the Conway Mill Preservation Trust provided the followlng seyvlces: Tackle dereliction: Installatlon of LED Lights in all corrldors, landings and shared spaces was undertaken by the Trust. Replacement of lights in these areas has greatly Improve to light tone and helped ieduce running costs. Work continues by the Board to develop the 3 new buslness models outlined in our previous report. A focus on resourcing the Atrltim for functions that will enable, seminars, conferences, weddlng5 and other events is underway. Development of the Attic space and the Drylng room remalns a priority but they are more1ong- term projects. Audlts completèd Include.. Fire Rlsk assessment by B Mcclarnon, Belfast; Ecclestical Marsh Insurance Health and Safety audit.
During this reporting perlod the Trust has facilitated the followlng groups through the use of unlts and other space5 for the delivery of arts. eommunity informatlon services, eounselling and intervention services, edutatlon and training. The following is a list of organisations who benefited: IPIPS, Foodbank, Tree of Life, CTRIM, John Bosco A8C,' SIP; CEC,. MENI; AMPS- Tar Anall,. AA;) Private benefit.. Thi5 is no prlvate benefit.
DECLARATION The trustees declare that they have approved the trustees, report above. Sl8ned on behalf of the charltws trustees Signature Full Name{sl Position DATE
COf+4WA Y MILL PRESLI RVATION TRUST LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2018 TRUSTEES, ANNUAL REPORT STATEMLI N'f OF TRUSTEES, RESPOYR SIBILITIES The trustees, are responsible for preparing the TISleeS, Report and the financial slatements in accordance wiih applicable law and regulations. Company Law rryuircs thc trustees, to prepare financial statements for each financial year. The Truslees, who are also directors for the puiposes ofrompany law, present the&r report and the financial statements of the charity for the year ended 30th Noveinber 2018. The Trustees confii'm that they comply with the requirements of the Charities Act (Northern Ireland) 2008 and Accounting and Reporting by Charities: Statement of Recommended Practice which applies tt) charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2015). Under company law the dii'ecloi7 must not approve the financial statements unless they are satisfied that tliey give a true and fair view of the state of affait3 of the company and of the surplus or deficit of the company for that period. In preparing those financial statements, the directoi's are rcquircd to: select suitable accounting policies and then apply them consistently. make judgements and estimates that are reasonable and prudent,. pKpai-e Ihc financial statemenls on the goiiig concern basis unless it is inappi'opriatc to pi'esume that the company will continuc in bu5incss. The directors are responsible foi. keeping adequate accounting records that are sufficient to show and explain the rompaT]y'5 transactions and disclose with reasonable accuracy at any time the financial positioll of the company and enable them to ensure that the financial statcments comply with the Companics Act 2006. Thcy are also responsible for safeguarding the as£et8 nf the cnmpany and hence for takiiig reasonable steps for the prevention and d¢tection of fraud and otliei. intgulai'ities. In so far as the directors are aware: there is no i'elevant information of which the company's independent examinei. is unaware. and - the directors have taken all steps that they ought to have taken to make themselves aware of any Lrlevant information and to establish that the independent examiner is aware of Ihal inform£ttion. By order ofthe board: JANE BURNS DlliEC'foR SARAH BRETr4NAN DIRECTOR 4VI ANDREI W DONNELLY DIRECTOR DATE 22nd Au ust2019 Page 7
CONWA Y MILL PRESERVATION TRUST LIMITED FINANCIAL 5TATEMF,NI'S FOR THE YEAR fNDED 30TH NOI'EM 201 Inilependtnt ExmiJJer's Report to ihe Ti'ustee5 of Conwy Mill PrÈ$Èrvtioh Trtsst Limlttd I report lo Iht Irusttes on iny ex8Jninatson of Ihc finanGial 5tal¢rDEnts of Conway Mill Pr¢3ervation Tvugt Limited for the year ended 30th Yovernbci. 2018. Responsibilitie5 b4515 of report As Ihe Iw51ees ofihe cliaTlty (4nd a150 Lls dirwlors for thc PUTW)SG5 of Gompany13w) you are re5pDn5ible for th¢ pi.ep'aI10n ofihe financial slalemetlls in acwrdancc with the requirem¢nt5 of th¢ Cotnp&ni¢s Art 2006. Having 3alislitd myself tbal the flnancial slatem¢nts of the Charity ar¢ not required to be uudileil under Part 16 of thc Companies Act 2006 and eligible for ind¢pendent ¢xamin&lion. It 15 my Tesponsibilily 10.. examine thc accounts 3¢dion 05 of th¢ Charttie8 Acl 04orlhertt Ireland) 200¥. follow th¢ proccdurcs laid down in th¢ E¢tt¢ral Ditreelion8 given by Ihe Charity Commission for Northern Ireland under section 65(91{b) of Ihe Charities Att,. artd stale whether particular tnalters hav¢ wm¢ ¢0 my aitention. Bisi$ of indepétkdottt examinèr's report I hav¢ ¢xamiD¢d your ¢hArity account8 as required under s¢clion 65 of the Chai'itie5 Act and my exatnin41ion w8$ arri¢d out ill a¢ord&nce wilh the genei81 Diiection8 given by the Charity Commission for NoTiheiTr Ireland nd6r 5EGiion 65191(bl of Ihe chilleS Act. The cxamination included a review of tli¢ accounting ircords kwt by th¢ chgrity and a ¢omparigott of the aecounls pre5cnted with th05¢ r¢coi'ds. It also includes con5ideralion of atly UnU5uqI it¢m5 or di%closureg in the accounts, and seeking cxplanarions from you as charty tru51ees on¢crning any 5uGh tnstt¢r%. I have cotnpl¢led my examtnalion. I ci)nfJrm thai no matters have come lo my attention COnnlI0n with the ex&minatTron givirtg n)e cause io believe that in any maierial respect: l. Th&t &ccouniing recoids were not kept in awordan¢¢ with %ection 386 of Ihe Comparties Ati 2006. or 2. That Ihe fin&nLidl xldlcfflcnls du Iiul dCWI'd willi Ihosc a¢cout)ling rordS or 3. Th&1 Ihe f&n&ncial statements do nol cotnply wilh the accollrtting reqUeMentS of seciion 396 of the Compttnies Act 2006 other than any requirem6nt that the fin8neial si&temenis give a irue and fair vicw which is not a matt¢r mnsidered as parl of an indepsndent examinat¥on' or the fjnancial 5tatcm¢nls have not been pr¢paTcd in accordance with th¢ m¢thod% principles of Ihe SiateTnent of RcCndcd Pr&cli(* for accoLEnt&ng and reporting by chaTiti¢s applicabl¢ to charities pYep&ring their accounE5 in accDrdancc with the Financial Rcporting Standard appliGable in the UK and Republic of IT¢lalld IfRS 1021 Indepedent exAminer s statement I have CQTnplc(ed tny cxamination and have no conccrn5 in Irsptct of the m?tt¢Ys {[) 10 {4) lisied above and, i onn¢clion with followin8 Ihc Dir¢¢lions of the chity Comniissioll for Noithern Ireland, I have found no ma (hat requÈre drn ing to your attenlion. LAWRENCE SHEARER F.C.A., Senior Stfitutory Auditoi. FORANDON BEIHALF OF OIHAiL4SHEARER, Stmlulury Auditor O'HARA SHEARER CHARTERKD ACCOUNTANTS AND STATUTORY AUDII'URS 547 Fa115 Road Belfast BTI 19AB Dated: 22nd August 2019 Page 8
CONWAY MILL PRLSLKVA'I'ION'I'IlUS'f LIMITED FINANC.IAL STATEMENTS FOR THE YE< AR ENDED 30TH NOVEMBER 2018 STA TEMENT OF ACCOUNTIN POLICIES Accounting Convention And Basis of Accounting The finanuial stteMen18 have been pi'epared under the historical cost convention. The financial statemen15 have been prepared in accordance with Jiccounting and Reporting by Charities.. Statement of Recon]mended Practice applicable to charitie5 preparing thcir accoiinls in accordance wilh the Financial Reporting Standard which applies in the UK and Republic of li'eland (FRS 102) (effective l January 2015) - (Charities SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ReeDnciliation with previous Generally A¢¢epted Aceounting Practice In prepariiig the accounts, the direeioi's Iiave considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the i'estatement of comparative items was required. No restatement5 were required. Going Contern At the time of approving the financial statements. the trustees, have a reasonable expectatif)n that the charity has ad¥quate resources to continue in operational existence for the foreseeable ture. Tlius the ti'ustees, continue to adopt the going ¢on¢ern basis of accounting in preparing the financial slatcments. In¢om¢ Recognition Income is recogni5ed when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is pi'obable that the income will be received and the amount aTh be measured reliably. Interest Receivable Interest on funds held is included when receivable and the amount can be n]easured i'¢liably' this is nonnally upon notification of the interest paid or payable by the Bank. Resourees Expended All expenditure is accounted for on an accruals basis and is classified under headings that aggi'egate all costs related to the category. Fw]draising costs include the costs of advertising, pi'oducing piblications, printing and mailing fundi'aising material, and staff costs in these areas. Costs of charitable activities include direct expenditure incurred through opei'ational activities. Governance costs r¢present the cosls associated with the governance aiTangements of the chai'ity which relate to the general running of the charity as opposed to those costs associated with fundraising or charitable activity. Fixed Assets All tangible fixed assets are recorded at cost. Page 9
cor4WAY MILL PRESERVATION TRUST LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2018 STATEMENT OF ACCOUNTING POLICIEI S Conlinued Depreciatio Depreciation 15 Calculated to write off the cost of fixed assets ovcr theii. estimated useful lives at the following rates.. Land and Bulldings O % residual valuc Repairs and Renewals All repaii's and irncwals are written off as incurred Pension Cost5 The charity does not currently operale a pension scheme. Debtors and Prepayments Trade debtors and other debtors are recognised at the settlement amount due after any discount offei'ed. Prepayments al'e valued At the amount prepaid net of any tradc discounts due. Creditors and Provisions Crcditors and provisions are recognised whcre the charity has a pr¢s¢nt obligation resulting fi'om a past ¢vcnt that will probably result in the Iransfcr of funds to a third party and thc amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions al'e norinally recognised al their settlement amount after all011ng foi. any tradc discounts due. Finanf ial Instruments The Cliarlty only has financial assets and finanLial liabilities of a kind that qualify as basic financial instruments. Basic financial instiuments are initially re¢ognised at transaclion value and subsequ¢nily mca8ured at iheir settlement value with the exception of bank loans which are subsequently measur¢d at amortised cost using the effective intercst method. Forei%n Currencies Monetairy asscts and liabilities in foreign currencies are translated into sterling al the rates of exchang¢ ruling at the balance sheet date. Transactions in foreign currencies are translated into 51¢rling at the rate of exchange njling at tlie date of the transaction. Excliange differences are taken into account in arriving at the net movement in funds. Page 10
CONWAY MILL PKESbKVA'I'ION 'I'RUST LIMrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH I*OVEMBER 2018 STATEMENT OF ACCOUNTINC POLICJES Fund Aecounling Unrestricl¢d funds are general funds that are available for use al the Trustees, discretÉon in furtherance of Ihe objectives of the ¢hai'ity. Designated fijnds aTe unrestricted funds set aside by the trustee5 Out of uniestricted funds for specific futuir purposes. Restricted funds are those gÈven loi use in a paiticular area ot for specific purposes, the use of which is rtI.1¢t¢d io that area or purpose. The in¢ome Ir¢eived from funders depends on the charity meeting detailed ciitei'ia on expenses plans. Grants given under such conditions also given subject to them beiiig obtained for in connection with IhE furthETance ofthe harity's aims and objectives. Such income can be repayable lo the fund¢r Tf such expeTr5 plan5 and criteria ar¢ not met. Such incoine is only deferred when th¢ donor speoifie% that the grantldonation must only be used in future accounting periods. or the donor has imposcd conditions which must be met before ihe charity has unconditional Entitlement. Income from ¢haritable activities includes income reiVed under contract OT where entitleinent to gyant fundingy is subj¢¢t to specific perfom]aiice ¢ondiliuns is recognised as earned a5 the related goodQservices are provided. Grant illcome includd in this category provides funding to support performance activities and is recognis¢d where there is entill¢tnent, certainty of receipt and the amount can b¢ measured with surricient reliability. Incom¢ is deferred when.. feedperforniance related gi'ants ar¢ I'eceived in advance of the p¢rfonnanc&levenl to which ihey relate. Reserves Policy Unrestricted funds 8r¢ needed io provide funds which can be applied to specific projects to enable these proj1$ lo bt undcriiiken at short notice and to cover the rutming costs of the Charity for a limited period, should there be a slgnificant shoitfall in proj¢ct¢d in¢om¢. Pagell
COYWA Y MILJ. PRESERVAI'IOY TRusf LIMI'J'LI D INAliC.IAI. AC.TIVITIFS FOR TIIE YEAR ENDIID 30TH NOVEIMBER 2018 TF.Mfi.NT 1COr oralin the illCDEnt lliid Èx Unr¢stri¢ted R¢$lritl¢d Endow¢1 TO'I'AL Funds 20111 TOTAL 2017 INCOME ANDENDOWNMENTS FROM.. Donations and legdcies Ineome from invesim¢tt In¢orn¢ from Chilable dclivilies Jn¢oTll¢ ftom other iFllding aciivklies 48,256 148,256 140,006 TOTAL INCOME AND ENDOWNMI.N'I'S 148273 148 273 I4,015 EXPENDITURE ON.. Expeodiluie oll raising funds Expenditure on chariloble aclEvilies Other expendinjre Net gainsl(losse$l on irtvts¢IllIs 128.786 128,786 109,302 TOTAL RESOURCES EXPEIYDED 128,786 128.786 109,J02 NEf INCOMEIIEXPENI)ITVllbl 19,487 19,487 31J,713 Transf¢ts b¢tiv¢¢n fvnds NKr hfoTrTt+lENTIN FUNDS 19,487 19,487 311,713 RECONCILIATIONOF FUNDS TOTAL f4UNDS BROUGHI. FORWARD 3.123¥9S 3 123898 3093 185 TOTAL FUNDS CARRIED FORWARD 3.143 385 3 143J85 3 I2398 Tlie Statemenl of Trinanclal ActlvlllES In(ldeS all gRiD5 and IDsse5 111 the yEaT X]td th¢r¢(or¢ a Stalemtnt of Total RtcDg¥iiised Gain¥ has Dot b¢¢n pr¢pii'¢d All of lh¢ above amou¥Jt¥ r¢l4t¢ to Cfjnflnulng ac¢lvltk5 ThE ntCDIUPAnylngiEcountlUg PDliriE5 IhEnoIES firN Plrt D(th¢5e finn¢lil¥tAt¢thènlg Pllge 12
CONWAY MILL PRESERVATION TRUST LIMITED BALANCE SIIEEI T AS AT 30TH NOVEMBER 2018 2018 2017 NOTES FIXED ASSETS Tangible assets 3.603.455 3,603,455 CURRENT ASSETS Debtors and prepaymeiits Cash at bank Cash on deposit Cash hand 10 600 16,398 17,660 17,660 16.998 Creditors: #mounts falling due within one year {4,587) (6.555) NET CURRENT ASSETSI(LIABILITIES) 13.073 10,443 TOTAL ASSETS LESS CURRENT ASSEI TSI( LIABILITIES ) 3,616,528 3,613.898 Creditors: amounts falling due after more than one year 12 (473,143) (490,000) NET ASSETSI(LIABILITIES) 3,143,385 3.123,898 FUNDS: ENDOWNMENT FUP4DS UNRESTRICTED INCOME FUP4DS 13114 RESTRIcfii D INCOME FUNDS 13115 3,143,385 3,123,898 3,143J85 3,123,898 These fiiiancial statements were approved by the Trustees on 22nd August 2019 and are signed oil their behalf by.. SARAH BRENIYAN DIRECTOR ANDREI W DONNELL DIRECTOR DATE 22nd Au ust 2019 DATE 22nd Au st2019 The accompanying Hccounting pollcie$ and note$ form part of these fillanei#l stAtemen¢s Page 13
NWA Y MILL PRESERVATION TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED30TH NOVEMBER 2 Is I. DOIYATIONS AND LfiGACIES Uttrestricted Restricted FuJds Funds Uiirestricted Re5tricfed Funds Funds 2018 2017 Donaiions Le¥aiics 2. INCOME FROM INVESTMENTS Unre5ti'icted Re51TUfted Funds FDMds Uijrestritted Restritfed Fund5 Funds 2018 2017 Income from UK listed investments Incojnr from 17 17 17 3, INCOME FROM CHARITABLE ACTIVITIES Uiirt51ricttd Restricted FLLnds Fumds UDI'e5tricled Restricted Fund5 2018 2017 Rent rcceivablt Conway Stiret cornmnItY Enterprises Projeci Limited 138.256 10,000 138,256 lo,0 117,777 117,777 22229 22,229 148,256 148,256 140,006 140,006 4. INCOME FROM OTHER TRADINC ACTIVITIES Unrestrieted Restrict¢d Fund5 Unrestrltttd Restl'LCttd Ftsnds Funds 2018 2017 Fundraising Page 14
CONWA Y MILL PRESERVATION TRUST LIMITED NOTES T THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2018 5. [IXPENDITURE ON RAISING FVNDS unstrIcted Restricled FuDds Funds UniY5ti'icl¢d Re5trictcd Fuiid5 Funds 2018 2017 Promotional and fundraising ¢ost5 6. EXPEIYDITURE Oly CHARITABLE ACTJVITJES Unrestricted Restricted Funds Fulld5 Unrtstriettd Restrieled FuAds Fuilds 2018 2017 Wages and salarie5 {S%t4ote 81 Social security costs {Se¢ liote 81 Repoirs and office maintenance Prinring, posiage and stationery Sundry expenses 13,094 149 586 13,094 149 586 9,141 380 463 380 463 13.829 13,829 9,984 9.984 Support Costs and CovtrnaMc¢ t05ts Light and ht 1'elephone and irtiemet Water rates In8ui?nce Accountancy fee5 Other professÉonal f Loan inteiEst Bank in15t and chaTg¢S 62.394 62,394 49.876 206 11.640 11.407 990 ,500 23,500 199 49,876 206 11,640 EI,4U7 990 1,500 23,500 199 13.674 14.328 I,250 13,674 14,328 1,250 23,095 216 23,095 216 114,957 114,957 99J18 99,318 TOTAL EXPENDITURE ON CHARITABLE AcfiviTIES 128,786 128,786 109J02 109,J02 Page 15
CONWAY MILL PRESERVATION TRUS'I. LIMI'I'ED NOTES TO THE FINANC.IAI, STATEMENTS FOR THE YEAR ENDEI D 30TII NOVEMBER 2018 7. NET (OUTGOING)/ INCOMING RESOURCES FOR THE YEAR This is stated after ¢hargingl(erediting) 2018 2017 ndcpendent examiners remun¢ration D¢preciation 1,250 990 8. SALARY COSTS AND EMOLUMENTS 2018 2017 Total staff costs were as follows.. Wages and salaries - key management personnel Wages and salaries - other staff Staff pension Costs Employer social security costs - key management personnel Employer social security costs - other staff Employer social security costs - Employment Allowance The average monthly number of employees during the year was as follows.. 2018 2017 No employees had emoluments in excess of £60,000 (2017.. £Nil} Trustees, remuneration and benefits There was no Itvstees, remuneration or other benefits for the yeai. ended 30tli November 2018. (2017.. £Nil) Trustees, Kxpense5 There were no trustees, expenses paid for ih¢ year ended 30th Novernber 2018. (2017.. £Nil} Page 16
CONWAY MILL PRESERVATION TRUST LIMITFD NOTES TO THE FINANCIAL 8TATF.MF.NTS OR THE YEAR ENDED 30TH NOVEMBER 2018 9. TANGIBLE FIXED ASSETS Land and Buildings Total COST As at I st December 2017 3,603,455 3,603,455 Additions Disposals As at 30th November 2018 3,603,455 3,603,455 DEPRECIATION As at 1st December 2017 Charge for year Eliminated on disposal As at 30th November 2018 Net book value 2018 3,603,455 3,603,455 Net book value 2017 3,603.455 3,603,455 The land and buildings, stated at cost, relate to the Conway Mill Complcx situated at, The Mill. 5-7 Conway Street, Belfast, BT13 2DE. According to the terms of a Letter of Offer issued by the Department of Enterprise, Ti'ade and Inv¢stment on 18th S¢ptetnb¢r 2009, the Department's five ycai. Control Period expired on 16th June 2016 being the fifth anniversary of receipt of all pre-completion conditions. With effect from 16th June 2016 therefore, the Conway Mill Preservation Trust workspace development project is no longer bound by th¢ D¢partm¢nt's L¢tter of Offer. Legal Charge A legal charge was taken out on the property on 20th Januaiy 2012, as the Control Period expired on 16th June 2016 it will be n¢¢¢ssary foi. Conway Mill Pi'cservation Ti'ust Limitcd to have a formal "Deed of Release drawn up and issued to ilie Department of Enterprise. Trade and Investment for execution in order to clear Ihis charge from the title deeds. The directors, have arranged with the charity's solicitor to diEw up A formal Deed of Release for approval of, and execution by thc Dcpartment of Enterprise, Trade and Investment. Page 17
CONWAY MILL PRESERVATION TRUST LIMITED NOTfi.S TO THf. FINANCIAI. STATf,MF,NTS FOR THE YEAR ENDED 30TH NOVEMBER 2018 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2018 2017 Debtors Prepayments 600 600 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2018 2017 Social security costs and other taxes Acced exp¢nscs Loan - The Architectural Hei'ita¥c Fund 2.592 1,995 2,772 3,783 4.587 6,555 12. CREDITORS: AMOUTrUS FALLING DUE AFTER ONE YEAR 2018 2017 Loan - The ArcliitecturAI Hei'itage Fund 473,143 490,000 473,143 490,000 This loan r¢lat¢s to a mortgage deed crcated 7th November 2008 betweeii Conway NIill Preservation Trust Limited and The Architecthrnl Heritage Fund. The principal sum was £500,000. 13. MOVEMENT IN FUNDS OnIng Net Movement Balance in Funds 2018 2017 Unrestricted Inetsm¢ Fuiid8 G¢neral fund Opening Net Movement Balance ill Funds 2018 2017 Restricted liieome Funds Building fund 3,123,898 19,487 3,143,385 3,123,898 3,123.898 19,487 3,143,385 3,123,898
CONWAY MILL PRESERVATION TRUST LIMI ITED NOTES TO THE FINANCIAL STATEMENTS FOII THE YEAR ENDED 30TH NOVEMBER 2018 14. UNRESTRICTED INCOME FUNDS 2018 2017 Balance at 1st December 2017 Incoming resources foi. Ihe year Resource5 expended for tlie year Balance ai 30th November 2018 15. RESTRICTED INCOME FUNDS 2018 2017 Balance at 1st December 2017 3,123,898 3,093,185 Incoming resources for the year Resources expended for the year 148,273 140,015 (128.786) (109,302) Balance at 30th November 2018 3,143,385 3,123,898 16. LEGAL STATUS Conway Mill Preservation Trust Limited is a Company Limited by Guarantee. Each mernb¢i' has agired to contribut¢ £1 in the event of a compu15O1y wii)ding up. Conway Mill Preservation Trusi Limited is a recognised Charity within the definition of Section 360(3) Income and Corporation Taxes Act 1970 by the Con]inissioners of the Inland Revenue. Conway Mill Preservation Ti'ust Limited is a Charity registered wilh Tlie Charity Commission for NortheTn Ireland Charity Number 101569. Date of Registi'ation 27th August 2015. Page 19