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
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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 S￿lfIC
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