MERVILLE RESIDENfs ASSOCIATION YEAR ENDED 31 DECEMBER 2024 Intome and Ex enditure Account 2024 2023 Income: Grants Antrim & Newtownabbey Borough Council HMRC- CJRSS Grant Other Donations 9,050 9,050 50 9,100 Income: Charitable Activities Room Hire Membership Fees 22,753 21,696 Event income 514 2,560 Other income Totsl Income 137 250 33.606 Expenditure: General Ex Wages Bank Fees Running Costs Misc Expenses Local EvenlslProiects Depre¢iallon nses 17.045 70 13,Ya4 17,305 68 11,637 6,472 8,949 651 {Deficit)ISurplus for the period 4,727 -5.004 Reserves BtDught FoNianl 38,358 43.362 Reserves Carried Forward 33,631 Page 7
Balance Sheet 2024 2023 Fixed assèts: Fumiture & Equipment Current assets: Other Debtors Trade Debtors M8Tville House L4mitsd Ulster Bank current account Cash in Hand Sl Acc 467 3,748 12.9.91 5,749 422 10.614 2,843 11,3 8,323 15.477 33.991 39.07a Current liabilifies: CwlftorlA¢¢nBIs PAYE 360 720 360 38,631 Charity Reserves: At l January <Defi¢itllSurplu8 38.358 4,727 At 31 De¢ember 33.631 38,358 Slgned (Anna Do Treasurer) Pxge 8 MERVILLE RESLDENTS ASSOCIATION YEAR ENDED 31 DECEMBER 2024
MERVILLE RESIDENTS ASSOCIATION YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024 I ACCOUNTING POLICIES 1.1 Basis ofpreparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to chariti¢s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in th¢ UK and Republic of Lreland (FRS 102). Merville Residents Association m¢¢ts the defmition of a publio bencfit entity under FRS 102. Ass¢ts and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carryillg value of ass¢ts held by the clwity. The charity opted to early adopt Bulletin I published on 2 February 2017 and have therefore not included a c&sh flow statement in these financial statements. 1.2 Fund accounling Incoming resources that may be applied for the Association's general pu4)oscs are treated as 'unrestiicted' incoming resources and are credited to the 'unrestrictsd funds,. Funding for purposes designated for a specific puryose by Council is credited to 'deSI)ated funds,. Where a donation or grant is required to be used for a specified puryose, the amount concerned is treated as a 'restricted' incoming resourc¢ and is credited to the appropriate 'restricted fund,. 1.3 Incoming resourcey All incoming resouwes are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with Teasonable accuracy. The following specific policies are applied to particular categories of income: Donated services and facilities are included at the value to the charity where this can be quantified. Investment income is included when receivable. Incoming resowccs from grants, where related to perfomance and SlfIC deliverables, are accounted for as the charity earns the right to considerntion by its perforn]anc¢. Page 9
MERVILLE RESIDEYfs ASSOCIATION YEAR ENDED 31 DECEMBER 2024 1.4 Bank interest Bank interest is recognised as an incoming resource when it is credited to the bank statement. All bank interest is treated as ullrestricted income to the General Fund. 1.5 Resources Erpended Expenditure is recognised on an acc basis as a liability is incuryed. Expenditure includes any VAT that cannot be fully recovered, and is reported as part of the expenditure to which it relates. 1.6 FLYed assets All items of capitsl expenditure below £1 00 are written off as incurred. Page 10