REGISTERED COMPANY N'UMBER: N1053950 (Northern Ireland) REGISTERED CHARITY NUMBER: 101838 ort of the Trustees and FAllgncial Statements for the Year Ended 31 March 2024_ for Belfast South Comtnunity Resources Acom an Limited b Guarantee) Lynn Drake & Co Ltd Statutory Auditors I st Floor 34 B-D Main Strcct Moira Co. Arniagh BT67 OLE
Belfast South Communi . Resources Contents of the FinaD¢ial Statements_ for the Year Tr:nded 31 Imarch 2024 Page Reference and Adminislrative Details Report of the Trustees Report of the Independent Auditors 10 to 13 Statement of Financial Aetii'ities 14 Statement of Financial Position l5 Statement of Cash Flows 16 Notes to the Statement of Cash Floivs 17 Notes to the Financial Statements 18 to 31 Detailed Stalemcnt of Financial Activities 32 to 33
Belfast South CommunityRcsources Reference and Adminislralive Details for the Year Ended 31 March 2024 TRUSTLES William Robinson Desmond Graham Margrct Gibson (rcsigned 2011012023) Ivan Graham (resigned 11512023) Malcolm Lavery Stephen Wilson William Harkness (r¢sign¢d 71312024) Danielle Butrows (appointed 11312024) Kim Cooper {appointed 71312024) Myrtle Stewart (appointed 71312024) RTr.GISTERED OFFICE 127-145 Sandy Row Bclfast Co. Antrim BT12 SET RF.GISTERED COMPANY NUMBF.R N1053950 {Northcrn Ircland) REGISTERED CHARITY NUMBER 101838 AUDITORS Lynn Drake & Co Ltd Statutory Auditors I st Floor 34 B-D Main Street Moira Co. Amiagh B T67 OLE CFIITr=F EXEC OFFICER Gamet Busby ADVISERS Ulstcr Bank Limitcd 140 - 142 Great Victoria Street Belfast BT2 7BU Sanlandcr 2-6 Bradbury Place Bclfasl BT7 IRX
Bclfast South_communtyi Resources Report of the Trustees for the Year Ended 31 March 2024 Thc trustees who are also dircctors of the charity for the purposes of ihe Companies Act 2006, present their report with thc financial statcmcnts of the charity for thc year endcd 31 March 2024. Thc truslces havc adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicablc to charitics prcparillg their accounts in accordance with thc Financial Rq)orting Standard applicable in th¢ UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objc¢tives and aims The objects of the conipany shall be to promote the benefit of the inhabitanls of South Belfast. Stratcgy Objcctivc Dcvclop working partncrships and relationships to create a safer cnvironment and improved Londitions for those who live, work and visit the area. Targei and ciigagc with young peopl¢ at risk through anti-social bchaviour. substance inisusc & criminal activity. Build the confidcnce and capacity of parents and children to develop healthy and happy relationships with cach othcr and others in their lives. Utilise the Community Safety project, including its volwiteers to increase individual and community saf¢ty and confidcncc in ihe arca.Tacklc cconomic and physical declinc and general dereliction in ihe arca. Tacklc Educational undcrachicvcment in th¢ arca. Stratcgy Objcctivc - Contributc to thc implemcntation of physical and social renewal in thc area at a strategic and operational Icvcl. Sccurc funding and support for an acccssible fit for purpos¢ learning hub in Sandy Row. Provide a community led response io the development of the Gilpins sile. Promote and crcatc opportunities to deiiclop social cconoiny enterprises and cntreprcneurial skills to enhance suslainability, Contribut¢ to community environmcntsl action that cnhanccs thc arca Rcduce isolation of individuals and the arca Slrat¢gy Objcclivc Crcalc, maintain and dcvclop opportunities that support and dcliver social, economic. environmental and cultural development activities. Maintain a sharcd space and inforniation 'hub' whcre individuals and groups can be signposted to the scrvices they nccd. Dclivcr project5 and aclivities that build intra and cross community relations in an intcgrated way that contributes to joint working and a shared future. Devclop opportunities to acknowledge the legacy of the conflict and its impact upon the lives of individuals and communilies, particularly in Sandy Row. Facililate learning and oiher opportunilies to promote Sandy Row's culwrdl identlty and contribute to social aiid cconomic sustainability
Belfast South Community. Resources Rcport o_f the Trustees for the Year Ended 31 March 2024 Action Results Connect all Parents South Connect all Parents South is a program working across Arellian Nursery School. Blythcfi¢ld Primary School and engages with thc Markels Parents to help parents help their children get the most out of their education. Conn¢cting local and newcomcr families to encourag¢ relationships b¢een and within coinmunities. Led by Belfast South Community Resources (BSCR). STETIMoving upltransitions program The Moving Up programm¢ is part of thc Belfast South Early intcrvention Project and is managed by Aimee. It aims lo enhancc s¢lf-est¢¢m. cmotional resilience, wellbeing and confidence amongsi children and Iheir parents with the trarASitions proccss at kcy stagcs in their Icarning at primary and post primary schools. The Moving Up programinc has been designed to help make transition as smooth as possible, providing support covering issucs such as how young pcople can be impacted by transition and the challcnges they may face. Coment Program Delivered by BSCR and Icad by Nicki Sproule. coment is a mentoring programme that aims to work with young pcoplc betwccn the agc of 16 -24 who are not in employmcnt or education. It is a on¢ to one mcntoring scrvice that supports young people to make positive steps forward in all aspects of their life but in particular into fiiiding rther training, educalion or work expcriencc. Numbers involved. 12 Clients Study Support aDd GCSE programs Thc Study Support program is manag¢d by Nicki Sproul and is funded by Childrcn in Nccd and providcs young pcople who are of secondary school age (11-18) Ihe opportunity to work I to I with University Students on their academic work. Pupils arc matched with a sent. who has expcriencc in a subjcct the young person feels th¢y need Support in. The GCSE program is also managed by Nicki Sproule and funded by BCC and consists of targeted classes in both community setting and schools. The progrdm is aimed at pupils who need extra support prior to their GCSE Maths and English exams. The pupils ar¢ split into small groups and arc taught by a fully qualified teachers who are assisted by a classroom assistantlmentor. Home work Club Thc homcwork club is managed by Chloe and is nded by Urban Villagcs. It provides homework support for primary school pupils and is bascd in SRCC. 30 Digital Connect South
Belfast South CommunityResources Report of the Trustces for the Year Lnded 3_1 March 2024 Digital Conncct South is managed by Jonny and fundcd for the most part by Urban Villages. The Projcct aims to bring together members of the south Belfast community to tak¢ part in activities using digital crcative cquipmcnt and software. Participants will b¢ fully supported by expericnced stsff to design and create a variety of ilems through both accredited and b¢spoke workshops. The projeci aims to reduce 1501ation, build confidcncc. encouragc go(MJ Telations. upskill and support participants who wish to progress into further training and employment in this area. The project will also explore how ihe digital revolution can bring the proud manufacturing tradition of Belfast back to lifc. This year saw us ivorking on a range of diffcreni projects Throughout the summer holidays over 300 p¢ople took part in digital based actii'itics with BSCR. "fhcse projects gave the participants the opportunity to dcvclop their digital skills and try new and creative actii'ities that help promote good wellbeing. Connect Digital South supportcd 4 and 5 y¢ar olds in thcir STEM knowlcdge through our STEM day for wee uns. This projcct helped promote friendships and collaboration through Lego, Green screen picture making aiid iiiuch iiiorc. Our traditional Gcck wcck was changed to different digital days to allow diffcTent children to takc part in thc project. due to Covid rcgulations. photography and street Art project saw 26 young pcople developing new photography skills and exploring our city. In addition the older group dcsigned and creatcd a new positivc mural within Sandy Row. Gaming and digital fabrication gave participants from across the South Belfast Area the chancc to come together and play games and digitally fabricate a range oFdifferent products together. 80 young pcople from the charter Youth club, were able to try a range of different digital activities through out the summer, including T-shirt and hoodi¢ fabrication and 3D dcsign. Our Inaugural Beach Fooiball competition saw young pcoplc as a tcam dcsign and fabricatc their own personaliscd kil for thc beach football tournamcnt. This helped to givc thc young pcopl¢ an insight on how sportb" clubs kits arc d¢signed and fabricated. 5 young peopl¢ are currently working through their OCN in digital fabrication and have developed a range of CAD and CAM skills. I"hc nexi quartcr sees us going back into schools and youth clubs, we havc develop¢d a rangc of ncw projects for primary and secondary agcd people. Wee ones do STEM Wcc ones do STEM, is a pilot projcct that focuses on promoting and dcv¢loping young pcople's digital & STP.M bascd skills. The project will focus on practical and explorative lessons over 5 sessions and is tailored to pl-p3 pupils. Th¢ projcct will look io use Lcgo, iPads, music and digital fabrication to foster a love for STEM. 'rech your Heallh Tech your Health aiins to support and PTomot¢ healthi¢r lifestyles for participants by helping them undcrsland morc about their own meiitsl. physical & social wcllbeing. This will bc dclivercd through a rangc of practical workshops centred on digital and physical activities that the participants wouldn't nornially get the cliance to do. Number involvcd in Digital progrdms
Resources Belfast South CommunitL_ Rcport of_the Trustees for the Year Lnded 31 March 2024 800 Education and Youth Education and youth is managed now managed by Chloe and funded by DFC. Raising educational attainment levels is a top priority for BSCR. The core aim of thc work is to ra15e attainment l¢vels across thc education spcclruni for children and young peoplc experiencing disadvantage and cxclusion through poverty, and social, cinotional and behavioral difficulties. The innovation of the BSCR'S Education Iniliativcs lics in thcir wraparound support approach ihat is inclusive of parents and families. building on the existing work in the local area. We deliver a service which is very much bd on need. it's delivered in the local community by pcople who car¢ about the nceds of our young peoplc. Physical and Economic Regeneration. Physical and F.conomic Rcgcneration is managcd by Nikki and Garncl (on top of their othcT rolcs within BSCR) and is funded by DFC. BSCR coThlinucs to work with oth¢T social partners on the regcneration of our local area. Gilpins is still a priority, but as you all know we have bccn let of latc by thc othcr partners inN'olved in this projcct and wc don't know if and whcn it will happen. BSCR continues to take thc lead on this and several othcr Tegcnerdtional capital projects within Sandy Row. Wc are also working on plans for a cultural café on the old Enas site 92-94 Sandy Row and the wec rubics site. Wc still bclicve that that new transport hub has the potcntial to be a game changer for SR, and as such we are continuing io work with all th¢ relcvant bodies to ensure that we as a community receivc maximum benefit. We arc glad to report that thc hub now has planning pcnnission and the tim¢ allowcd for JRS has now passcd. We arc continuing to work with the forum on all aspccts of thc d¢vclopmenl including cxpccted disruptions and employments prospects. Economic Sustainability BSCR have bccn supportcd by a number of nderS for its core work and project development this year. Wc would likc to acknowl¢dge and thank our fundcrs. thcy are all listed in our audil¢d accounts. but I think a special mention should go lo DE*C, BCC and Uvs for their continued support. W¢ will always rcquire grant funding and it is right that ccntral govcrnment should continuc to rcsourcc some of the work we do but it is ihe ultimate goal of BSCR io establish a position whcre core activities are self-funded through our own aclivitics. This rcport illustratcs the inany services. activities and projccts offcrcd by BSCR as I said in thc beginning they represent only a small proportion of what we do and I recommend thai you follow our activities on the web sitc.
Belfast South Community_Resources Report of the Trustees for thc Year Ended 31 March_2024 OBJECTIVES AND ACTIVITIES Public benefit (l) The publiL benefits ihat flow from ihe purposes of advancing education, employment and trdining, relicving poverty, iniproving social wclfarc and addrcssing cconomic and physical dereliction arc (i) enhanced educational attainment, transferable skills, capabilities and capacities and improved potential lo secure cinployment" (li) increased self-awarenes5, confidence and resilience and the development of social and communication skills and abilitics and an enhanccd scnsc of purposc and fulfilment (iii) reduction in unemployment. hardship and poverty, leading to a better quality of life for the beneficiarics and consequent improvements in their health and well-being- (iv) cnhanccd knowlcdge about s¢tting up social ¢ntcrpriscs. resulting in incrc&sed Icvcls of ¢mploym¢nt and bctter prospccls of sustainablc devclopment- (v) improvcd eiii'ironmcntal condilioiis, leading to a reduction in stress and anxiety and improvemcnts in peoplc's well-being. (2) The public bencfits that flow from the purpose of preserl'ing and protecting health are (i) iinprovcd incntal, physical and cmotional wcll-being, leading to reduccd hardship, strcss and anxiety. (li) improvcd sclf-car¢ and scll-hclp straLcgies' (iii) incr¢ased skills, knowlcdge and capacity io make healthier lifestyle choices. (iv) positivc behavioural changc among young peoplc. (v) greater access to advice and inforniation relating to health issues. (3) The public benefits that flow from the purpose of providing and assisting in the provision of facilities in tlic interests of community dci'elopmcnt arc (i) increased opportunities to engage in activities that bring people together, l¢ading to greater social cohesion, improvcmcnts in health and fiiness, well-being and fulfilmcnt. -{ii) cthanccd activity. engagcment and participation in social aclivities by thc bencficiarics, leading to improvemcnt in thcir well-bcing. quality of life and grealer Social cohcsion. -(iii) cnhanccd accessibility to frec or affordable facilities and amcnities. (4) The public bcnefits thai flow from thc purposc of promoting all or any objects for the bcncfit of the inhabitants are - (i) increascd etTiciency and effcctiveness of the community and voluntary organisations that use Bclfa.qt South Community Resources, facilities, rcsuliing in enhanced outcomcs and scrvicc dclivery and, consequcntly. an improvcd quality of life for those who benefit from the work of these organisations. -(ii} greatcr access to relevant and accurate inforniation. -{iii) raised awarencss and undcrstanding of. and cmpathy with, pcople from ethnic minorities or othei religions, cultures and belief5, Icading to greater social cohcsion, reduction in t¢nsion and conflict. -(iv) reduction in crime and anli-social bchaviour and grcat¢T feclings of safcty within the community. Thc beneficiaries arc the general public - These benefits can bc cvidenccd through: monitoring rccords kcpt by BSCR and other agencics of the numbers of ihosc who have succcssfully complcted training courses. indcpcndent cvaluations of the activities and impact ol BSCR and of other local cominunity and iioluntary organisations; the findings of community surveys. and fecdback from the beneficiaries. No haLin or private benefit ariscs from these purposcs. The trustecs are fully aware of the guidelines from the Charity Commission for Northern Ircland to comply with the Charities Act(NI) 2008, and belicv¢ they arc operdting Cntirely within those guidclines.
Belfast South Communi Resources ort of the Trustees for the Year Ended 31 March 2024 FINANCIAL REVIEW The company had net incoming resources for the year of £980 (2023: net outgoing resources of £44,676), which reflected the completion of a number of projects Caled out during the year. Unrestricted funds increased £49,191 whilst Restricted funds decreased by £48,211. 2023 has been marked by inflation leading to higher mortgages resulting in an intensified cost of living crises. Sandy Row has and continues to face major economic, social, physical, and cultural challenges. Job losses, lower incomes, rising prices and lack of job opportunities for young people are all continuing to have an impact on local people, posing a strain on individuals, families. and communities. BSCR remains committed to finding ways to support th¢ community in this time of deepening economic crises, by both short-t¢rm measures such as the fuel voucher social surMarket schemes but also by expanding our educational programs to aid our young people gain the qualifications they need to succeed in this increasing complex and technical world. In the past year we have developed and delivered exceptional programmes across the fields of education, physical and economic regeneration, employment and training. community confidence and safety. Working in partnership with a range of local people, business leaders, elected representatives, community organisations, statutory and public agencies we have delivered programmes and projects which have resulted in positive change in our community. Some of these projects are set out it the report which follows, and I urge all to read it and to come in to meet with the team any time if they feel wc could be doing more. It is dilficult in a short introduction to capture all the detail of our work in the past year, so I invite you to visit our website Mvw.bscr.co.uk as well as our Facebook page (which has over 5000 subscribers), where you will meet our staff and read about our work and view the many photos, short films etc., we have developed which will hopefully give you an insight into our achievements and partnership working. Quite simply, we would accomplish little without the pr()f¢ssionalism of our small but highly dedicated staff team and Board members. I wholeheartedly acknowledge the commitment made by them over the past year. All of this work would be impossible without the support of our nderS and donors who continue to invest in making Sandy Row. a better place. in particular DFC and BCC who provide core funding to the group. It is this core funding provided via the neighbourh(M)d Renewal Program and BCC'S revenue program which has madc everything else you read about in this report possible. The ethos of BSCR is all about the community and the great people who make it what it is. I hope we can continue to make a positive impact on this community in the dityicult days ahead. Reserves Policy The charity's policy is to retain a level of free reserve& which matches the needs of the organiLation, both at the current time and in the foreseeable future. The reserves required should be suificient to meet committed grant expenditure and the running costs for a period equivalent to twelve months annual expenditure. The charity will continue to monitor compliance with this policy on a regular basis and the Board will review the appropriateness of this policy annually.
Belfast South Communi . Resources Report of t.he Trustees for the Year F.nd_ed 31 March_20_24 FU'fuRE PLANS 92194 Sandy Row (Eans) has been approv¢d, the fvnds are in place. and we expect lo purchase the building in the first half of thc next financial ycar. We will then appoint a design team and work on the plans for the new build to includc the cultural café and three apartments. The business plan for the digitavarts hub which will bc situatcd on th¢ derclict land ncxt to our officcs at 1491151 Sandy Row has been approvcd and we arc working on the funding package for this project. We arc continuing to expand the digital fabrication suite and are looking at ways that we can free up additional spacc lo enablc this to happen. Our Digital program inio local schools h&s bccn a major success and will be a conlinued focus of our work going forward. Similarly, the pandemic has laughi us that local children suffercd a great deal of mental stress as a result of the lock downs, in reaction 10 this w¢ hav¢ employed and re-trained scv¢ral staff in ord¢r to bc able to dclivcr an cnhanced mindfvlness program both in house and into local schools. BSCR continued to host the Parents group in 2023 and we don't see that changing in 2024 we are therefore dcvcloping more and enhanced prograni for this group. Thc exam ccntre has also bccn a trcmendous success and we have in many ways out grown the space we can dcdicatc to this social cntcrprisc within the centrc. Going forward wc plan lo build a dcdicated cxam centre within the llew digital hub and to continue to expand this element of BSCR with the goal of rnaking BSCR as sclf-sustaining as possible. Our transitions programs and arc GCSE progrdms are both back to full capacity and we plan to continuc and expand the area of our work. Indeed going fonvard we see the main focus of BSCR as becoming more cantercd on tlic cducational and traiiiing Theeds of local children. .SI"RUCTURE, GOVERNANCE A'D MAIYAGEMENT Governing document The charity is controlled by its governing document. a deed of trust. and constilules a limited company, liinitcd by guaranlcc, as defined by the Conipani¢s Aci 2006. Recruitment and appointment of new. Irustees Tlie Charity follows an appraisal process to identify the skills required for the Trustee Board and to identify any skills gap on thc Board. Members of the Trustcc Board rcccive a full induction prograniiiic on joining th¢ Trustec Board and thcrcafter receivc ongoing training and bri¢fing sessions.The board compl¢tes an annual cvaluation of its effeciivencss. Actions arising from this process are integrated into the corporale workplan. Thc Trustcc Board uses opcn recruitmcnt and strivcs to ensure that therc is adequatc local representation on the Trustee Board. The trustees delegate the day lo day running of BSCR to that of Garnet Busby - Manager. EVENI'S SINCE TIIF. F.ND Ob THE YEAR Infomiation relating to evcnts since the cnd of the year is given in the notes to the financial stalemcnts. STATLMENT OF TRUSTEES, REsPO's[BILITlEs Th¢ trnstees (who are also the dir¢ctors of Bclfast South Community Re50urccs for the pUoseS of company law) are responsible for preparing the Report of the Trusiees and the financial statements in accordance with applicable law and United Kiiigdom Accounting Standards (United Kingdoin Generally Accepted Accounting Practice} including Financial Reporting Standard 102 "The Financial Rcporting Standard applicablc in the UK and Republic of Ircland"
Belfast South Community Resources Rcport of the Trustees for the Year Ended 31 March 2024 STATEMENT OF TRUSTEES. RESPOYSIBILITIES - continued Company law requires thc trnstces lo preparc financial slatcments for each financial ycar which givc a truc and fair view of the state of atTairs of the charitable company and of the incoming resourccs and application of rcsources, including the income and expenditure, of the charitable company for that pcriod. In prcparing thusc financial statcments, the trustees are required to select suitable accounting policies and then apply them consistently- obscTh'¢ thc methods and principles in the Charity SORP" make judgements and estimates that are reasonable and prndcnt" pr¢pare the financial statcments on the going concern basis unlcss it is inappropriate to presume thal the charitablc company will continuc in busincss. The trnstees ale responsible for keeping propcr accounting rccords which disclose with rcasonable accuracy at any time the financial posilion of the charitable company and to ¢nablc them to ensure that the financial statements coinply with the Companies Act 2006. They are also responsible for safeguarding Ilic assets of the charitable company and henc¢ for taking reasonable steps for the prevention and detection of fraud and oth¢r irrcgularitics. In so far as the trustees are aware: there is no relcvant audil infonnation of which the charitable company's auditors arc unawarc. and the irustecs haiwc lakcn all stcps thal they ought to ha¢ taken lo make thcinselvcs awarc of any rclcvant audit int"onnation and to establish that the auditors are awar¢ of that infomiation. AUDITORS The auditors, Lynn Drak¢ & Co Ltd. will bc proposcd for rc-appointmcnt at the forthcoming Annual General Meeting. This r¢port has b¢¢n prepared in accordance with the special provisions of Part 15 of the Coinpanies Act 2006 relating to small companies. Approv¢d by order of the board of trustces on 21 May 2024 and signed on its behalf by: StcphcTh Wilson- Ttee
Report of the I_ndependent Auditors to the Trustees and Members of .tyResources Belfast South Communi Opinion Wc have audited the financial statements of Belfast South Conllnunity Resources (the 'charitablc company,) for th¢ year ended 31 March 2024 which comprise the Statemcnt of Financial Activities, the Statement of Financial Position. the Statem¢ni of Cash Flows and notes to the financial statements. including a summary of significant accounting policies. The financial reporting frdmcwork that has bccn applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acccpted Accounting Practicc), including Financial Rcporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion thc financial stalcments: give a ITUC and fair view ol the stste of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources. including its income and expenditure, for the year then haiwc b¢en propcrly prcparcd in accordancc with Unitcd Kingdom Generally Accept¢d Accounting PraLtice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ir¢land and have been prcpared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conductcd our audit in accordance with Intcrnational Standards on Auditing (UK) (ISAS (UK)) and applicablc law. Our rcsponsibilities under those sL2ndards arc furthcr described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of tlie charitsble company in accordance with the ethical rcquiremcnts that are relcvant to our audit of thc financial statetnenls in thc UK, including thc FRC'S Ethical Stsndard, and the provisions available for small entities, in the circumstanccs set out in notc 19 lo th¢ ffftancial statcinents, and wc haN'e fulfillcd our other cthical rcsponsibiliti¢s in accordancc with thesc requiremcnts. We believe that the audit evidence we have obtained is sufficicnt and appropriate to proi'ide a basis for our opinion. Conclusions relaling to going conccrn In auditing th¢ financial statcments, we havc concluded that the Irustees. usc of thc going concern basis of accounting in ihe prcparation of ihc financial statements is appropriate. Based on the work we have pcrfonned. we have not idcntified any material uncertainties relating to events or onditions that, individually or collectively, may cast significant doubt on the charitablc company's ability to continue as a going concern for a period of at least twelve monihs from when the financial stalcments are authoris¢d for issu¢. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the rclevant scclions of this report. 10
Report of the Independent Auditors to the Trustees and Illembers of Belfast South Community Resources Other information The trustees are responsibl¢ for the other infomiation. The other infom]ation comprises the inforn]ation includcd in the Annual Report, other than the financial stateinents and our Report of thc Independcnl Auditors thcrcon. Our opinion on thc financial statements does not cover th¢ othcr infonnation and, cxccpt to thc extCDt otherwise explicitly stated in our report, we do not express any fonn of assurance conclusion thereon. In connection with our audil of the financial statements, our responsibility is to read the other inforn]ation and, in doing so, consider whcthcr thc othcr inforn]ation is matcrially inconsistent with the financial statcmcnts or our knowledgc obtaincd in the audit or otherwisc appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we arc required to detennine whcthcr this givcs rise to a material misstalen]enl in thc financial statcmcnts thcmselvcs. If, based on thc WOTk we have perforn]ed, we conLlude thal therc is a material misstatement of this othcr infom]ation, we are rcquircd to report that fact. Wc have nothing to report in this regard. Opinions on other matters prescribed by the Companies Acl 2006 In our opinion, ba5cd on the work undcrtaken in the course of the audit: th¢ infonnation gilien in the Rcport of the Trustees for thc financial ycar for which the financial statcmcnts arc prcparcd is consistcnt with the fmancial statements. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In ihc light of the knowlcdgc and understanding of thc charitablc company and its enviromnent obtaincd in Ihc course of the audit, we have not id¢nlilied material misstatcm¢nls in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Aci 2006 requires us to report to you if, in our opinion= adcquatc accounting records havc not been kcpt or returns adequate for out audit have not bccn receivcd fron) branches not visitcd by us. or dic financial statcmcnts are not in agement with the accounting records and returns; or certain disclosurcs of trustees, rcmuneration specified by law are not mad¢; or wc have nol reccivcd all thc inforniation and explanations w¢ requirc for our audit. or the trustecs wcre not entitled to take adN'antsg¢ ol the small companies exemption from the requirement to prcparc a Strategic Rcport or in preparing thc Report of the Trustccs. Responsibilitics of trustees As cxplaincd morc fully in thc Statcmcnl of Trustces. R¢sponsibiliti¢s. the truslces (who ar¢ also thc dircclors of the Lharilable company for the purposes of company law) are responsible for thc preparation of the finalicial slateillcnts and for being satisficd that they givc a truc and fair view, and for such intenial control as the trustecs delerniine is necessary to enable the preparation of financial statements ihat are free from material misslatement, whcthcr due to fraud or UTOr. In preparing thc financial statcmcnts. the trustccs are responsible for asscssing the charitable company's ability to continue as a going concern. disclosing, as applicable, matters related to going corAcern and using the going concern basis of accounling unless the tntee5 either intend to liquidate thc charitable company or to ccasc opcrations, or havc no realistic altcmativ¢ but to do so.
Report of the Independent Auditors to the Trustees and Members of Belfast South Communi Resources Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statcments as a whol¢ free from material missiatement, whether due to fraud or error. and to issue a Report of the Independent Auditors that includ¢s our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in acLordance wilh ISAS (UK) will always delect a material misstatement when it exists. Misslalemeiits can arise from fraud or Crror and are Consider matcrial if, individually or in the aggrcgate, they could reasonably be expected to influence the economic d¢cisions of users taken on the basis ot" Ihese financial statcmcnts. Thc extent to which our procedurcs ar¢ capabl¢ of dctccling irregularilies, including fTaud is detailcd below: As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain profcssional scepticism throughout thc audit. Wc also:_ Identify and asscss thc risks of malcrial misstatement of the fmancial statemcnts, whcther duc to fraud or error, design and pertom] audit proccdures responsive to those risks, and obtain audit evidencc ihat is sufficicnt and appropriat¢ to provide a basis for our opinion. The risk of not delccting a matcrial misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion. forgery, intentional omissions, misreprescntalions, or the overridc of internal control. Obtain an undcrslanding of internal control relevant to the audit in order to design audit procedures that are appropriatc in thc circumstances. but not for the purpose of expressing an opinion on thc cffectivcness of th¢ charities internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and rclalcd disclosurcs made by the lrnstecs. Conclude on thc appropriatcnc55 of the irustccs, usc of thc going conccrn basis of accounting and based on thc audit cvidcncc obiaincd, wh¢ther a matcrial uncertainty exists rclat¢d to cvcnts or conditions that may cast significant doubt on the charilies ability to continue as a going concern. If we conclude that a material uncertainty Cxists, we arc rcquircd to drdw attcnlion in our auditorfs rcport to the rclat¢d disclosures in the financial statements or. if such disclosuS are inadequate, to modify our opinion. Our conclusions are bascd on the audit cvidence obtaincd up to the date of our auditorfs rcport. Howevcr, future eN'cnts or condilions may cause the charity to cease to continue as a going conc¢m. valuate the ovcrdll presentation, structure. and content of the fanCIal statements, including the disclosure5 and whether the financial slatcm¢nls represent the underlying transactions and events in a manner that a¢hi¢ves fair prcscntalion. A further dcscription of our rcsponsibilities for the audit of the financial statements is located on the rinancial Reporting Council's wcbsite at www.frc.org.uklauditorsresponsibilities. This description fornis part of our Report of the Independent Auditors. 12
ort of the Independent_Auditors to the Trustees and Members of Bclfast South Communi . Resources Use of our report This rcport is made solely to the charitable company's members, as a body, in accordanc¢ with Chapter 3 of Part 16 of the Companies Aci 2006. Our audit work has been undertaken so that wc might state to tlie charitable company's membcrs thosc matters we arc required to slate to th¢m in an auditors, rcport and foT no other pUOse. To thc fullest extent pennitted by law, we do not accept or assume responsibility to anyone othcr than the charitablc company and the charitable company's mcmbcrs as a bjdy, for our audit work, foi this report, or for the opinions w¢ have fom]ed. istair Wells (Senior Statutory Auditor) for and on behalf of Lynn Drake & Co Lid Statutory Auditors I st Floor 34 B-D Main Street Moird Co. Armagh BT67 OLE 21 May 2024 13
Belfast South Community Resources Statement of Finanei?l Activities (Incorporating an Income and F.xp.enditure Account for the Year Ended 31 March 20_24 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restricted funds funds Notes INCOME AND Tr.NDOWMENTS FROM Donations and lega¢ics 220 Charitable activities Grants Receivablc 13,405 418.566 431,971 501,944 Othcr trading activities Investment income 45,218 35,936 45,218 35.936 36,779 32,457 94,559 418,566 513,125 571.400 Total EXPENDITURE ON Charitable activities Direcl Charitable Lxpcnditure Govcmanc¢ 45,128 240 461,953 4.824 507.081 5.064 61 I,357 4,719 Total 45.368 466,777 512,145 616.076 NET INCOMEI{LXPENDITURE) 49.191 (48,211) 980 (44,676) RECONCJLIATION OF FUNDS Tolal funds brought fonvard 408,657 721.802 1,130,459 1,175,135 TOTAL bUNDS CARRIED FORWARD 457,848 673,591 1.131,439 1,130,459 The notes fonn part of th¢s¢ funciaL statements 14
Bclfast South Communi Resources Statement of Financial_Position 31 March 2024 31.3.24 31.3.23 Notes FIXED ASSETS Tangible assels 12 686,892 721,700 CURRENT ASSETS Dcbtors Cash at bank 13 54,570 400.800 91,776 339,706 455,370 431,482 CREDITORS Amounts falling due wiihin one year 14 (10.823) {22,723) NET CURRENT ASSETS 444,547 408,759 TOTAL ASSETS LESS CURRENT I.IABILITILS 1.131,439 1,130,459 NF.T ASSETS 1.131,439 1,130,459 FUNDS Unr¢stricted funds Rcstrictcd funds 16 457.848 673,591 408.657 721,802 TOTAL FUNDS 1,131,439 ,130,459 Thesc financial statemcnts have bccn prepared in accordance with the provisions applicablc lo charitable companies subjccl to the small companics regime. The financial statements were approved by the Board of TnLStees and authoris¢d for issue on 21 May 2024 and werc signed on its behalf by.. William Robinson - Truste¢ Stephcn Wilson - Trustee The notes form part of these fu)ancial slatem¢nts 15
Bclfast South_CommunityResources St2tcment of Cash Flows for the Year F.nded_-31 Ni larch 20_24 31.3.24 31.3.23 Notes Cash flows from operrdting activilies Cash gcncralcd from opcrations Tax paid 73,605 37 83,427 43 Net cash provided by operating activities 73,642 83,470 Cash flows from investing activities Purchasc of tangiblc fixed asscts Interest received (13,855) 1,307 218 N¢t cash (used in)Iprovided by investing activities {12,548) 218 Change in cash and cash equivalents in the reportlng period Cash and cash equivalents at the beginning of the reporting period 61.094 83,688 339,706 256,018 Cash and cash equiTr"alcnts at the end of the reporting period 400.800 339,706 The notes fom] part of thcsc financial statements 16
Belfast. South Communtyi Resources Notcs to the S.latement of Cash.Floivs for the Year Ended 31 March 2024 RECONCILIATION OF IYET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.24 31.3.23 Net incomcl(expenditure) for the reporting period (as per the Statemcnt of Financial Activities) Adjustments for: Dcpreciation chargcs Interest receivcd Decrease in debtors (Decrease)lincreasc in creditors 980 (44,676) 48.663 (1,307) 37,206 (11.937) 48.109 (218) 67,109 13,103 Iyet cash provided by operations 73,605 83,427 AINALYSIS OF CHANGES IN I%ET FUNDS At 114123 Cash flow At 3113124 Net cash Cash at bank 339,706 61,094 400,800 339,706 61,094 400,800 Total 339,706 61,094 400,800 The notcs forni part of thcsc financial statcm¢nts 17
Belfast South Communi Resources Notes to the Financial_statements for the Year Ended 31 March. 2024 ACCOUNTING POLICIES Basis of preparing the financial statements (a) General information and basis of preparation Bclfast South Community Resources is constitul¢d as a company limited by guarantee incorporated in Northcm Ircland (N1053950). In the cv¢nt of the charity bcing would up, thc liability in respcct of the guarantee is lirnitcd to £1 per mcmber of the charity. The charity constitutes a public b¢nefit entity as defined by FRS 102. The financial slatemcnts have been prepared in accordance wilh Accounting and Reporting by Charities.. Siatement of Rccommcndcd Practic¢ applicablc to charities preparing iheir accounts in accordancc with thc Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). tlie Financial Reporting StaThdard applicable in thc Unitcd Kingdom and Rcpublic of Ir¢land (FRS 102), thc Charities Act (Northern Ireland) 2013, the Companies Act 2006 and UK Generally Accepted Practice as it applies from l January 2015. Thc financial statcments arc prepared on a going concern basis undcr the historical cost convention, modified to includc certain itcms at fair value. The fmancial statements arc prescnted in sterling which is the nctIonal currency of the charity.. The significant accounting policies applied iTh the preparation of these financial statements are set out b¢low. Th¢se polici¢s havc bccn consislently applied to all years prescntcd unlcss othcnvisc Stalcd. (b) Funds Unrestricted funds ar¢ availablc for usc at ihc discr¢tion of thc trust¢es Tn furtherancc of the g¢neral objectivcs of thc charity and which havc not bccn dcsignatcd for other puryyoscs. Designatcd funds comprise unrcstricied funds that have becn sct asidc by the Irustees for particular purposes. The aim and use of ¢ach designated fund is set out in th¢ notes to the financial statements. Restricted funds are funds which are to be uscd in accordance with specific restrictions imposed by donors or which havc bccn raiscd by the charity for panicular purposes. Thc cost of rdising and administering such fimds are charged against the specific fund. The aim and usc of each restricted fund is set out in the notes to the financial statemenls. Further explanation of the nature and purpose of each fimd is included in th¢ notes to the financial stalciiicnts. (c) Income recognition All incoming resources arc included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any perfonnance conditions have been met, the amount can b¢ measurcd r¢liably and it is probable that thc income will bc rcceivcd. 18 continued...
Belfasl South Community Resources Notes to the Financial_statements - continued. for the Year_Ended_3.1 Mareh 2.0_24 ACCOUNTING POLICIES - continued Basis of preparing the financial statements For donations to be recognised the charity will have been nolified of the amounts and the settlemenl date in writing. If ther¢ arc conditions attachcd to the donalion and this rcquires a Icvcl of perfomiance before cnlitlement can be obtsincd then income is deferred until those conditions are Ily mct or the tulfilment of thosc conditions is within thc control of the charity and it is probable that th¢y will be lfIlled.vo1Unlary income is received by way of grants, donations and gifts and is included in full in ihc Statemcnt of Financial Activities (SOFA) when receivable. Income rcceived from collections is rccognised when receiv. Donatcd facilitics and donatcd professional scrviccs are rccogniscd in incomc at their fair value whcn their economic benefit is probabl¢. it can bc measured reliably and th¢ charity has control ov¢r the itcm. Fair valuc is dctcnnincd on the basis of th¢ valu¢ of th¢ gift io thc charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is rccogniscd in expenditure. No amount is includcd in thc financial statements for volunteer time in line with thc SORP (FRS 102). Furthcr dctail is givcn in thc Trustees, Annual Report. For legacie5, cntitlcment is the carlier of the charity being notificd of an impcnding distribution or the legacy being received. Ai thi5 point incom¢ is rccognised. On occasion legacies will b¢ notified to ihe charity however it is noi possiblc to measur¢ the amount ¢xpcctcd to bc distributed. On thcse occasions, the legacy is treated as a contingent asset and disclosed. Income from trading activities includes income earned from fundraising events and trading activiti¢s to raisc funds for th¢ charity. Incomc is rccciv¢d in cxchangc for supplying goods and serviccs in order to rais¢ funds and is rccognised whcn cnlitlcmcnt has occurred. The charity rcccivcs governmcnt grants which arc detailcd within the notcs to thcse financial statements. Income from govcmment and other grants are rccognised at fair value when the charity has entitlcmcnt after any pcrfoniiancc conditions have bccn inct, it is probablc that thc incomc will bc rcceived and the amount can be measured reliably. If enlitlement is not mei ihen these amounts are dcfcrrLd. (d) Expenditure recognition All expcnditure is accounted for on an accruals basis, incI81ve of VAT which cannot be recovered and has been classifi¢d under hcadings that aggr¢gatc all costs relatcd to the category. Expenditurc is rccognised where there is a legal or construclive obligation to mak¢ payments to third parties, it is probable that thc settlement will be requircd and the amount of the obligation can bc measurcd rcliably. It is calegorised undcr ihe following headings.. Costs of raising funds includes the costs associated with attrdcting voluntary incomes; Expenditure on charitable activities includes those costs incurred by the charity in thc d¢livery of its activiti¢s and services for lis bcneficiarics. Il includcs both costs that can bc allocatcd directly to such activities and thos¢ cosls of an indirect nature n¢c¢ssary lo support iliem; and Other expcnditure represcnts those items not falling into the catcgorics above. Irrecoverable VAT is charged as an cxpcnse against the activity for which expcnditure aiosc. 19 continued...
Belfast South Communi .Resources Notes to the_Financial_Statements - continued for the Year Ended 31 Lllarch 2024 ACCOUNTING POLICIES- continued Basis of preparing the financial st2temeDts Grants payable to third parties are within the charitable objectives. Where unconditional grants are offercd, this is accrued as soon as the rccipicnt is notified of the grant. as this givcs risc to a reasonable expcctation that the recipient will receive the grants. Where grdnts are conditional relating to pcrforn)ance ihcn thc grant is only accrued when any unfulfillcd conditions ar¢ outside of thc control of the charity. (e) Support costs allocation Support costs are thosc that assist the work of the charity but do noi directly rcprcscnt charitable activitics and includc officc costs, govcmancc costs, administrative pavroll costs. They are incurred directly in support of expcnditur¢ on the objects of thc charity and include project manageincnt carri¢d out at Ilcadquartcrs. Where support costs cannot be directly attribul¢d to particular headings thcy havc becn allocatcd to cost of raising funds and expenditure on charitablc activities on a basis onsistent with use of the resources. Premiscs overheads have been allocated on an insert detail basis and other OVCTheads have bccn allocated on a basis consistcnt with the use of rcsourccs. Fund-raising costs are thos¢ incurred in seeking voluntary contributions and do not include the costs of disseminating inforn]ation in support of the charitable activitics. (fj Tangible fixed assets Tangiblc fixed assels are siatcd at cosi less accumulated deprcciation and accumulatcd impainnent losses. Cost includes costs directly aitributable to making the assct capabl¢ of operating as intendcd. Dcpreciation is providcd on all tangible fixed asscts, al ratcs calculated to WTite off the cost, Icss estimated residual value, of each assel on a systematic basis over its expecled useful life as follows.. Buildings Fixtur¢s & Fittings 4 % Straight Line l O /v Straight Line (g) Financial Instrumcnls A financial asset or a financial liability is recognised only whcn the chariiy becoincs a party to the contractual provision of thc instrumcnt. Basic financial instrumcnts arc initially recognis¢d at thc amounts receivable or payable including any related transaction cosls. Current assets and current liabilities are subsequently measured at the cash or other consideration expectcd to be paid or rclived and not discountcd. Debt instrumcnts are subsequcntly measured at amortised cost. Where investments in shares are publicly traded or theii fair value can otherwise be measured reliably. thc investment is subscqueiitly mcasurcd at fair N'alue with changes in fair value rccognised in income and expenditure. All other such investments are subsequently measured al cost less impairn]ent. 20 continued...
Belfast South Communi Resources Notes to the Financial_statements - continued for the Year Ended 311%12rch 2_024 ACCOUNTING POLICIES - continued Basis of preparing the financial statements Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is dcfcrred bcyond nornial business tcmts or financcd at a rate of iThtcrest that is not a market rate, in which cas¢ the asset is measured at the present value of the future payments discountcd at a market ratc of intcr¢st for a similar dcbl instrument. Other financial instrnmcnts arc subsequcntly measured at fair valu¢ with any changcs Tecogniscd in the statement of financial activities, with the exceptioTh of hedging instruments in a designed hedging relationship. Financial assels that are measured at cost or amonised cost ar¢ reviewed for objective evidence of impaimieiit at thc ¢nd of each reporting dat¢. if therc is obj¢ctivc evidence of impairnicnt an impainnent loss is recognised under th¢ appropriate heading in the statemenl of financial activities in which thc initial gain is recognised. Foi all equity instruments regardlcss of significance, and other financial asscts that arc indiiiidually significant, these are asscsscd individually for impairn]ent. Othcr fUnCIal assets are cither assesscd individually or grouped on the basis of similar credit risk chardcteristics. Any rcv¢rsals of impairnienl are recognised immediately, to the extent that Ihe reilwsal does not result in a carying amount of thc financial assct that Cxceeds what the carying amount would havc bcen had the impaimient not previously been recognised. (h) Impairnient Asscts not measurcd at fair value ar¢ revicwcd for any indication that the assct may be impaired at each balance sheet date. Ir such indication exists, the recoverable amount of the asset. 01 th¢ asset's cash gcnerating unit. is csliinalcd and compared to thc carrying amount. Wh¢re thc carrying amount excceds its r¢coverabl¢ amount. an impairment loss is r¢cognised in profit or loss unless the asset is Caled al a revalucd amounl wherc the impairnient loss is a rcvaluatlOD decrc&se. (i) Provisions Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past cvent, it is probabl¢ that an outflow of economic bcnefits will bc rcquircd in settlcment and thc amount can be reliably estimated. (i) Leases Assets acquired und¢r financc leases capitalis¢d and dq)reciatcd over th¢ shortcr of the lease tcrni and the cxpccted useful life of th¢ assct. Minimum Icasc pa)Thcnls arc apportioncd bctwcen th¢ finance charge and the reducttoTh of the outstanding lease liability using the effective inlcrcst mcthod. The related obligations, nct of future finance charges, are included in creditors. Rentals payable and receivable under operaling leases are charged to the SOFA on a straight line basis over the period of the lease. (k) Tax No provision is requircd for taxation as the company is defined as a charity for taxation PUTPOSCS. 21 continued...
Belfast South Communi Resources Notes to the Financial. S.tatementS - Continued for the Year F.nded 31 March 2024 ACCOUNTING POLICIES - continued Basis of preparing the financial statements Thc charit), is a regist¢red charity and so such is entiiled to certain tax ¢xempiions on income and Profits from investmcnts and sury)luses on any trading aclivities carri¢d on in furthcrance of the charity's primary objectives, if these profits aThd surpluses are applied solely for charitsble purposes. O) Going concern The financial statements hav¢ been prepared on a going concern basis as the trustees b¢lieve that no material uncertainties exisl. The truslees have considcred the level of funds held and thc expectcd level of incomc and expcnditure for 12 months from authorisiThg these financial stalcmcnts. The budgeted income and expenditure is sufficient with the level of reserves for the Lharity to bc able to continuc as a going conc¢m. (m) Judgements estimates Thc following judgements including thosc involving cstimatcs that havc been made in the process of applying thc above accounting policics that havc had the most significant cffect on ihc amounts recognised in the financial slatements and that hai'e a significant risk of causing a mat¢rial adjustment to the Ca'ing amounts of assets and liabilities within the next financial ycar: (i) deprcciation method and asscl useful livcs Th¢ estimatcs and assumptions are rcviewed on an ongoing basis considering the current and future maikct conditions. Taxation Thc cliarity is a registered charity and so such is cntitl¢d to certain lax cxcmptions on incomc and profits from investmcnts and surpluses on any trading activitics carried on in furtherance of the charity's primary objeclivcs, if thesc profits and surpluses arc applied solely for charitable PUTPOSCS. Fund accounting Thc company has variou5 types of funds for which it is responsible and which require separate disclosur¢. A definition of the various types of funds is as follows= Restricted funds Fuiids rcc¢ived which are eam]arked by thc donor for specific pury)oscs. Such purposcs arc within thc ovcrall aims of the cornpany. Unrcstri¢t¢d funds Funds which are expendablc at thc discr¢tion of the directors which have been dcsignatcd for spccific pury)oses in fiutherance of the objects of the charity 22 continued...
-tyResourccs Belfast South Communi Notcs to the Finaneial.Statements - continued for the Year Endcd 31 L¥larch 2_024 DONATIONS AND LEGACIES 31.3.24 31.3.23 Donations 220 OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Room IIir¢ Test Centre Fee income 11.659 33,559 5,940 30,839 45.218 36,779 INVESTMENT INCOME 31.3.24 31.3.23 Rents rcccivcd Deposit account interest 34,629 1,307 32,239 218 35,936 32,457 INCOME FROM CIIARITABLE ACTIVITIES 31.3.24 31.3.23 Tolal activities Grants Rcccivablc Grants 431,971 501,944 Grants received, included in the alK)ve, are as follows: 31.3.24 31.3.23 Departmeni for Communities - DFC CFNI Cooperation Ireland CRC Children in Need Public E4¢alth Agcncy Belfasi City CounciltNIHE - Good Relations small grants Coment Belfast City Council - ReveThue Grant Belfast City Council - Summer Scheme Urban Villagcs Belfast City Council - Diversionary Project Transitions 148,778 159,823 5,062 800 1,971 10,478 4,820 6,883 13,889 18,000 19,008 5.457 3,155 21,000 3.000 126.135 5,528 82.505 160,748 4,338 84,223 Carricd fonvard 415,366 470,235 23 conlinued...
Belfast South CommunityResources Notes to the Financial Statements- continued for the Year F.ndcd 31 March 2024 INCOME TrROM CHARITABLE ACTIVITIES - continued 31.3.24 31.3.23 Brought fonvard West Belfast Partnership Board - GCSE Radius Housing Bclfast City Council - Voucher Sch¢me South City Ulstcr Univcrsity The ACT Iniliative Babcock Land Defence Ltd Belfast City Council - Community Activity Mcdium Grant 415,366 470,235 7,000 2.133 21,150 1,426 5,705 3.500 2,500 900 4.000 431,971 501,944 CHARITABLE ACTIVITIES COSTS Direct Costs (scc nole 7) Support costs (sce note 8) Totals Dircct Charitable Expenditur¢ Governance 507,081 507,081 5,064 5,064 507,081 5.064 512,145 DIRECT COSTS OF CHARITABLE ACTtVITIES 31.3.24 31.3.23 Staff costs Reni & rates Insurance Light and hcat Telephone Printing, poslage & stationery Tutor Costs OfTicc Sundrics Travclliiig & Mecting cxpcnscs Sundry Donations Repairs & maintenancc Exam Fees IT Costs Programme Support & Materials Cleaning After School Tcacher Staff Training Hardship Fund Vouchcrs 302.460 6,696 3,455 7,297 4,221 320,623 4.087 3,256 11.145 3,663 1,758 16,135 403 300 405 11,898 7,157 2.535 1,900 1,264 1,768 720 21,050 4.168 60 88 5,618 5,422 451 353 1,200 540 Carried forward 345,073 410.067 24 continued...
Belfast South Community.-Resources Notes to the Financial Statements - contsnu.ed_ for the Year Ended 31 Nlarch 202.4 DIRECT COSTS OTr CHARITABLE ACTIVITIES - continued 31.3.24 31.3.23 Brought fonvard Projcct Cost - Misccllanwus Rcfunded to DFC Funder Dcpreciation 345,073 113,345 410,067 148.753 4.428 48,109 48,663 507,081 611,357 SUPPORT COSTS Governance costs Governancc 5,064 NET INCOMEI(EXPENDITURE) Net incomcl{expenditure} is statcd after chgIng1(cr¢ditlng}. 31.3.24 31.3.23 Audit Fccs Depreciation - owned assets ,100 48,663 1,000 48,109 10. TRUSTEES, REMUNERATION AND BENEFITS There wcre no tThslecs' remuneration or other bcnefits for the year ended 31 March 2024 nor for the ycar endcd 31 March 2023. Trusttes, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. 25 conlinued...
B_clfast S_outh Community Resources Notes to the Financial Statements- continued for the Year Tr.ndcd_311%larch 2024 I I. STAFF cos'rs 31.3.24 31.3.23 Wages and salaries Social sccurity costs Other pcnsion costs 282,807 17,502 2,151 298,886 19,621 2,116 302,460 320.623 The average monihly number of employees during the year was as follows: 31.3.24 14 31.3.23 14 Managcment and Administration No employces received emoluments in excess of £60,000. Thc key managem¢nt personncl of the charity Compri of thc Chicf Executivc and Senior management team. The salaries paid to key management personnel being the Chief Executive, Programme Managcr and Operations Managcr, during the year totalled £105.378. {2023: £107,384). 12. TANGIBLE FIXED ASSETS Fixtures Land and buildings fittings Totals COST At l April 2023 Additions 915,685 13,855 114,818 1,030,503 13,855 At 31 March 2024 929,540 114,818 1,044,358 DEPRECIATION At l April 2023 Charge for year 241,703 37,181 67,100 11.482 308,803 48,663 At 31 March 2024 278,884 78.582 357,466 NET BOOK VALU At 31 March 2024 650,656 36,236 686,892 At 31 March 2023 673,982 47,718 721,700 On 25 November 2016. Belfast South Community Rcsources entered into a Debenture with The Executive Office in relation to the property at 127-145 Sandy Row. The nature of the charge is as security for the obligations of the company to repay the financial assistance it rcccivcd from The Social Investment Fund (SIF). 26 continued...
Belfast South Communi Resources Notes to the Financial Statements - continued for the Year Lnded 31 March 2024 13. DEBTORS: AMOUII'TS FALLING DUE WITlllN ONE YEAR 31.3.24 31.3.23 GCSE Urban Villages DSD - Running Costs Transitions Prepayments 7,000 77,378 235 7.000 163 46,570 8,000 54,570 91,776 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ofsE YEAR 31.3.24 31.3.23 Vat Account Accruals and defeed income 2,147 8,676 2,110 20.613 10,823 22,723 15. ANALYSIS OF NET ASSF.TS BETWEEIY FUNDS 31.3.24 Total funds 31.3.23 Totsl funds Unrestricted Restricted fimds funds Fixed asscts Current asscts Current liabilities 13,301 453,886 (9.339) 673,591 1,484 {1.484) 686.892 455,370 (10.823) 721,700 431.482 (22.723) 457.848 673.591 1,131,439 1,130,459 16. MOVFMENT IN FUNDS Net movement in funds Ai 3113124 At 114123 Unrestricted funds Gcncral lund 408,657 49.191 457,848 Restricted funds Big Lottery - Awards for All (Capital) SIF -CAPITAL Bclfast City Council - Revenue Granl Radius Housing Dcparlmenl for Communities - Capital 5.177 676,249 37 65 40,274 (1,035) (37,005) (37) (65) (10,069) 4,142 639.244 30,205 721,802 (48,211) 673.591 TOTAL FUNDS 1.130.459 980 1,131,439 27 continued...
Bclfast South Communi ..ty_Resources Notes to the Financial Statements- continued for the Year Ended 31 Illarch 2024 16. MOVEMENT IN Fulls - continued Net movcmcnt in funds, includcd in the above are as follows". Incoming resources Resourccs expended Moveinent in funds Unrestricted funds Gcneral fund 94,559 (45,368) 49,191 Restricted funds Dcpartmcnt for Communitics - DFC Children in Need Big Lottery- Awards for All (Capitsl) Public I l¢alih Agency SIF-CAPITAL Coment Belfast City Council - Rei'cnuc Grant Bclfast City Council - Summcr Scheme Urban Villages Belfast City Council - Diversionary Projcct Transitions Radius Flousing Departincni for Communities - Capital Belfasi City Council - Community Activity Mcdiurn Grdnt 148,778 19,008 (148.778) (19,008) (1,035) (5.457) (37,005) (3,155) (21,037) (3,000) (126,135) (1,035) 5.457 (37,005) 3,155 21.000 (37) 126,135 5.528 82,505 (5.528) (82,505) (65) (10.069) (65) (10,069) 4,000 (4,000) 418,566 (466,777) (48,211) TOTAL b UNDS 513.125 (512,145) 980 28 continued...
Bel_f_ast South Community Resources Notes to the Financial Statements- continued for the Ycar Ended 31 March 2024 16. MOVEMENT IN Tr UNDS- continued Comparatives for movement in funds Net movement in funds At 3113123 At 114122 Unrcstricted funds General fund 389,769 18,888 408.657 Restrictcd funds Dcpartmeni for Communities - DFC Big Lottcry - Awards for All (Capitsl) CRC SIF-CAPITAL B¢lfast City Council - Revenue Grant Radius Ilousing Dcpartmcnt for Communitics - Capitsl 14,500 6.212 1,057 713.254 (14,500) (1,035) (1.057) (37,005) 37 65 (10,069) 5,177 676,249 37 65 40,274 50,343 785,366 (63.564) 721,802 TOTAL FUNDS 1.175.135 (44.676) 1,130,459 29 continued...
Belfast.South Community Resources Notes to the Financial Statements - continued for the Year Ended 31 March 2024 16. MOVEMENT IN FUNDS - continued Comparative nct movcmcnt in funds, included in the above are as follows: Inconiing resources Resourccs expended Mov¢ineiit in funds Unrestrscted funds GenLral fund 70.882 (51,994) 18,888 Restricted funds Dcpartmcnt for Communilies - DFC Children in Need CFNI Big LAJttcry - Awards for All {Capital) CRC Public Health Agency Belfast City CounciVNIHE - Good Rclations small grants SIF -CAPI"fAL Coment Belfasi City Council - Revenue Grant Urban Villages Belfast Cil>' Council - Diversionary Project Transitions Wcst Bclfast Partnership Board - GCSE Radius Housing Dcpartment for Communities - Capital Belfast City Council - Voucher Schcmc 159,823 10,478 5.062 (174.323) (10.478) (5,062) (1,035) (3,028) (4.820) {14,500) (1,035) (1,057) 1,971 4.820 6,883 (6,883) (37.005) (13.889) (17.963) (160,748) (37,005) 13,889 18,000 160,748 37 4.338 84,223 (4.338) (84,223) 7,000 2.133 (7,000) (2,068) (10,069) 65 (10,069) 21,150 (21,150) 500,518 (564.082) (63,564) TOTAL FUNDS 571,400 (616.076) (44,676) 30 continued...
Bclfast South_Community_Resources Notes to the Financi2_l_-Statements- continued for the Year Tr.nded 31 Nlarch 2_024 17. CONTINGENT LIABILITIES A contingcnt liability Cxlsts to rcpay grants rcccivcd should ccrtain conditions noi be fulfillcd by thc charity. 18. REI,ATED PARTY DISCI.OSURES Therc were no related party transactions for the yur ended 31 March 2024. 19. FRC ETHICAL STANDARD- PROVISIONI'S AVAILABLE FOR SMALL ENTITIES In common with many othcr businesses of our size and natur¢ we use our auditors to prepare and submit returns to ihe tax authoritie5 and assi51 with the prepardtion of the financial statements. 20. pos'r BALANCE SHEET EVENTS Thcre were no Events after the reporting period therefore no material issues need disclos¢d. 21. WINDING UP Every metnbcr of th¢ Company undcrtakcs to contributc to the assets of th¢ Company. in the evcnt of the samc bcing wound up while it is a member, or wiihin one year after it ceases to b¢ a mevnber, for paymcnt of the debts aiid liabilities of the Company contrdcled bcforc it ceascs to be a membcr. and of the costs, chargcs and ¢xp¢nses of winding up. and for the adjustment of the rights of the contributovs amon&7 Ihcmsclves. such Ount as may bc rcquired not excecding one pound. 22. SHARL CAPITAL The Company is Limited by Guarantee and has no Share Capital 31
Bclfast South Community Resources Detailed Statement of Financial Activilies for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMI ENTS Donations and legacies Donations 220 Other trading activities Rooin Hirc Test Centre Fee income 11,659 33,559 5.940 30,839 45.218 36,779 Investment income RLnts received Deposit account intercst 34,629 1,307 32,239 218 35,936 32,457 Charitable activities Granls 431.971 501,944 Total incoming resources 513,125 571,400 EXPLNDITURE Charitable activities Wagcs Social security Pcnsions Rcnt & rates Insurance Light and heat Tclcphonc Priiiling, postage & stalionery 'rutor Costs orrice Sundries Travclling & Mccting cxpcnscs Sundry Donations Rcpairs & inaintcnancc Exam Fees Il" Cosis Programme Support & Materials Clcaniiig Carri¢d fonvard 282.807 17.502 2,151 6,696 3,455 7,297 4,221 298,886 19,621 2.116 4,087 3,256 11,145 3.663 1,758 16,135 403 300 405 11,898 7.157 2.535 1,900 1,264 386.529 4,168 60 88 5,618 5,422 451 353 1,200 344,533 This page does not fonn part of the statutory financial statements 32
Bclfast South Community Resources Detailed Stalement of Financial Actii'ities for the Year Tr.ndcd 31 March 2024 31.3.24 31.3.23 Charitable activities Brought fonvard Alter School "feach¢r Staff Training I lardship Fund Vouchers Project Cost - Misccllaneous Refundcd to DFC Funder Dcpn ofLand & Buildings Dcpn of Fixtures & Fillings 344,533 386,529 1,768 720 21,050 148,753 4,428 36.627 11.482 540 113,345 37,181 11,482 507,081 611,357 Support costs Goi'ernance costs Audit Fees Bank Fccs Accountancy fccs i.ioo 504 3,460 1,000 555 3,164 5,064 4,719 Total iesourccs cxpended 512,145 616,076 Nct incomel(expenditure) 980 (44.676) This page docs not forni part of the statutory financial stal¢ments 33