REGISTERED COMPANY NUMBER: N1040485 (Northern Ireland) REGISTERED CHARITY NUMBER: NIC 101850 Re ort of the Trustees and Unaudited FlnAnclal Statements for the Year Ended 31 March 2024 for East Belfvdst Inde endent Advice Centre Acom Limited b uarantee Lynn Drake & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE ADGQSKOJ 2711112024 COMPANIES HOUSE A09
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East Belfast Inde endent Advice Centre Contents of the Financial Statements for Ibe Year Ended 31 March 2024 Page Reference and Admhnlstralive Detalls Report of the Trustees Independent Examiner's Report 9 to 10 Statement of Financlal Activities Statement of Financial Position 12 to 13 Notes to the Flnancial Statements 14 to 25 Detailed Statement of Financlal Activities 26 to 27
East Belfast Inde endent Advice Centre Reference and Administrative Details for the Year Ended 31 March 2024 TRUSTEES Ann Martin Irene Blanchard (resigned 91512023) Amanda Maguire (resigned 311312024) Bernadett¢ Mcconnell Colin Robinson Richard Williamson Gerard Morgan L Gatsi-Barnett (appointed 11412023) COMPANY SECRETARY Gerard Morgan REGISTERED OFFICE East Belfast Network Centre 55 Templemore Avenue Belfast Co. Antrim BT5 4FP REGISTERED COMPANY NUMBER N1040485 (Northern Ireland) REGISTERED CHARITY NUMBER NIC 101850 INDEPENDENT EXAMINER Lynn Drake & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE CHIEF EXEC OFFICER Mr Gerard Morgan BANKERS Ulster Bank Connswater Branch Arches Retail Park Belfast BT5 4AF
East Belfast Inde endent Advice Centre ort of the Trustees for the Year Ended 31 Mareh 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recomrnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and R¢public of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims East Belfast Independent Advice Centre targets people affected by poverty and disadvantage by providing free, independent and confidential advice within the community in greater East Belfast. EBIAC believes in a community development approach to advice, providing an advic¢ servic¢ which promotes community participation, is community based and community led. EBIAC exists to ensure that the community in East Belfast does not suffer from a lack of advicclinformation as to their rights and responsibilities.
East Belfast Inde endent Advice Centre ort ol the Trustees for the Year Ended 31 March 2024 OBJECTJVES AND ACTIVITJES Significant activities The aims and objectives of EBIAC are as follows: (l ) Maintain and develop an effective and high quality service. (2) Ensure the servtce is accessible especially to the most vulnerable people in the area. (3) Inform and influence policy and service developments in the context of Welfare Reform. (4) Sustain and develop the organisation and its resources. Activities During the YeAr EBIAC is committed to promoting social justice and equality, our staff work to ensure that the community has access to the information and resources they need to navigate the complex social security systems. Our services are free of charge, to ensure that individuals from all backgrounds Can seek help and support. EBIAC has played a crucial role in supporting vulnerable individuals and families struggling with financial hardship. Our advisors work closely with clients. providing advice, form filling. advocacy. representalion, and practical solutions to help them overcome obstacles to making informed decisions. We also continued to increase the awareness of access to advice, accessing justice and information on welfare reform issues. benefits. debt, housing issue and the social security system. Our services and access are already tailored to those with significant physical access and health issues because of the nature of our work but we continue to reach out to group5 Wlth information and awareness raising activities, when we have identified underrepresented communities which rnight be facing barriers to a¢c¢ssing services. During 23-24 we have organised workshops, training sesstons. and awareness raising information sessions to equip individuals including those with mental health issues, their carers, support staff and family members. Through these sessions we aim lo build upon the knowledge and skills necessary to navigate various systems effectively. We have also provided information sessions on accessing pension credit with older groups. Thi5 year the cost of energy and food inflation continued to effect household incomes. Those with mental health issues and the elderly on fixed income pensions and pension credits are among those most vulnerable in our community in these Circumstances. and are more likely to experience severe financial difficulties. struggle with and maintaining stable warm homes. food poverty and maintaining their health and wellbeing. During the year advtce was delivered through a number of projects including: Mental Health and Wellbeing And Advocacy and Tribunal Services The Mental Health and Wellbeing project continues to support individuals with mental health issues to access their entitlements and send referrals to the Mental Health Advocacy and Tribunal project which provides support with appeal applications and representation ai Social Security Tribunals. The continuing pattern of Personal Independence Payment making up the majority of the appeals continues with increasing number of refusals and appeals. The Project delivered Information s¢5sions with local community-based organisations working in the fields of mental health support, health and well-being services and those supporting Carers. We continue to refer vulnerable individuals, who previously did not engage with community or other services, to support their on-going mental health needs including to couns¢11ing services. volunteering opportunities, family support organisations and debt management advice. Welfare Reform Support Project The WRSP project continues to provide advice for people navigating the range of welfare reform and mitigation schemes. It includes advice and support with benefit application processes, assistance with sanctions, enhancing employability and financial Capability where approprlate and supporting people to improve their digital capability.
East Belfast Inde ndent Advice Centre Re ort of the Trustees for the Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES Community Advice Ydnd Training Project During 2023-24 delivery of our Generalist Advice Services wa5 again underpinned by our Community Advice and Training Project. Our volunteer advisers are recruited from the local community, and we develop the skills and capacity of our volunteers to support the local community, deliver advice services, improve their own employability and access opportunities in the local area. Our programme supports those currently excluded from the workplace for a variety of reasons and encourages some of the most vulnerable local people to become involved in volunteering, gain qualifications and gain employment for those seeking to do so. Our volunteers have supported individuals to improve their financial position by conducting benefits checks on all clients and assisting people to maximise their income by supporting people with making applications for social security benefits including Universal Credit, Employmeni Support Allowance and Personal Independence Payments. By conducting budgeting reviews with Clients, they hav¢ been able to support individuals to address issues of debt directly or through referrals to local debt management services. Feeding Britain We have been funded by Feeding Britain through their Pathways from Poverty programme to work with local food banks providing expert welfare rights advice sessions within existing food projects to help address the wider issues that people may be facing. Wiser 8nd Better O During the year, the project has continued to ensure that pensioners in East Belfast have reduced levels of poverty through promotion of pension credit and other benefit take-up, and better access to services though Ihe provision of direct advice services on a face-to-face basis. We have publicised the project within the local community and public sector to promote the project. These links have also enabled us to refer pensioners to additional support services which they were unaware of, or unable to access independently We have publicised the project throughout the community particularly in locations where w¢ might be able to targel older people not currently engaged in additional support services, including GPS, Post Offices, local shops and cafes. We have delivered awareness raising on pensions and penston credit entttlement to organisations working with and supporting older people.
Easl Belfast Inde endent Advice Centre Re ort of the Trustees for the Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES Public benefit Purposes (a) and (b) The direct benefits which flow from this purpose include: l. Cjaiming welfare benefjts for those who have a physical or mental disability. 2. Maxirnising the income of all clients who are in need. 3. Resolving debt related issues. 4. Reducing the levels of stress and anxiety of those in the area of benefit through the provision of advice. 5. Providing quality advice to those in need due to a low income, ill healih, disability or age. 6. Providing a signposting service to specialist organisations for those needing them. 7. Providing quality advice lo all those in the area of benefit who are impacted negatively by legislation. These benefits will be evidenced by: l. Amount of yearly benefit maximisation r¢cord¢d 2. Amount of debt dealt wilh. 3. The numbers of people from the area of benefit using our service. 4. Feedback from the people in the area of benefit. Purpose (c) The direct benefits which flow form this purpose include l. Improved mental health and well being for those in the area of Ixnefit. 2, Reduced levels of stress and anxiety for those in the area of benefit. Purpose through the provision of advice that allows them to resolve practical issues that are impacting negatively on their mental health. 3. Signposting to other specialist mental health services. These benefits will be evidenced through l. Numbers of clients accessing services 2. Direct referrals from Community Voluntary and Statutory health services. 3, Amount of benefit maximisation 4. Amount of debt dealt with. 5. Client and stakeholder feedback. Purpose (d) The direct benefits which flow from this purpose include, Training of Volunteers from the area of benefit -Edu¢ation of people from the area of benefit as to their rights in relation lo those areas of NJ -legislation which directly affects them. -People frotn the area of benefit will not suffer through a lack of knowledge or an inability to express themselves. These benefits will be ¢videnc¢d through: I, the number of volunteers trained each year 2. feedback from clients who use our services These purposes do not give rise to any hami. The beneficiaries of these purposes are those people residing in the Greater Belfast and Castlereagh Area. A private benefit to Trustees may arise as a result of ongoing training in Good Governance, Finance, HR. Through this training Trustees gain skills and experience which are transferable to other settings. These benefits are incidental and necessary to ensure the benefit is provided to our beneficiaries. A private benefit to individual volunteers may arise as a result of their basie training. Volunteers gain skil Is and experience which are transferable to other settings. These benefits are incidental and necessary to ensure the benefit is provided to our beneficiaries.
East Belfast Inde endent Advice Centre Re ort of the Trustees for the Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES The trustees has complied with the duty to have regard to the guidance issued by the Charity Commission for Northern Ireland under section 4(b) of the Charities Act. FINANCIAL REVIEW Financial position The company had net outgoing resources for the year of £1,485 (2023: net outgoing resources of £24,658), which reflected the completion of a number of projects during the year. Unrcstricted funds remained unchanged, while restricted funds decreased by £1,485. Reserves policy The charity's policy is to retain a level of reserves, which matches th¢ n¢¢ds of the organisation bolh at the current time and in the foreseeable future. The charity has developed a.plan to establish and maintain this agreed level of reserves. The charity will continue to monitor compliance with this policy on a regular basis and the Board will review the appropriateness of the policy annually, FUTURE PLANS Once again for the coming year we again anticipate high demand for services from people struggling with the cost of living and impact of energy costs on housing and living costs. We will continue to work together with partners in the wider voluntary, comrnunity and public sector to ensure we sup.port clients to avoid hardship and destitution, In the coming year, we will provide crucial support to Clients through, our drop-in services, appointment-based services* phone and on-line support when requested, providing information and referrals services and specialist advice on housing. employment. benefits. debt, and mental health advocacy. We will also deliver information and awareness raising sessions, to equip those working with vulnerable individuals with knowledge of the social security system and raise awareness of th¢ services available. We will continue to collaborate with our existing and new partner organisations. to provide a comprehensive support network for clients, drawing upon the expertise and resources of other organisations to address complex issues STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company> limited by guarant¢e, as defined by the Companies Act 2006. Recruilment and appointment of new trustees During the period under review the directors met monthly. Trusteesldirectors are appointed by nominations made in writing by any existing director, At the General Meeting nominated directors are appointed by election.
East Belfast Inde endent Advice Centre Re ort of the Trustees for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The princlples of good governance are embedded within all aspects of E&st Belfast Independent Advice Centre's operations wilh management and staff being keenly aware of the Boards responsibility of ensuring that the organisation protects itself from financial exposure and reputational damage. A close working relationship is maintained between the Board and management to ensure that operationally staff are aware of the standards required of them by the Board and the Board are always in a position to provide guidance and support to management in the discharge of their duties. This two way relationship is the key feature of East Belfast Independent Advice Centre governance arrangements and is a key strength in the company. A conscientious approach to ensuring that contractual project requirements are achieved has been maintained at all times both in ihe accounting period being reporled on and since East Belfast Independent Advice Centre establishmenl. Very tight financial controls on expenditure and all financial commitmenls are maintained al all times and project staff hav¢ been trained and have become experienced in budgetary controls. In both these areas ie Project delivery and financial controls management all staff have eslablished close working relationships with funding organisations to ensur¢ all mandatory Standards are consistently achieved. Board representatives also actively engage with funding bodies. The Board, management and staff are fully aware that the nature of the work in whtch East Belfast Independent Advice Centre is involved can bring with it a high level of scrutiny to ensure thal all activities are fully compliant with funding requirements and. therefore, beyond reproach. The Board of East Belfast Independent Advice C¢ntre is, Iherefore, greatly reassured of the company's compliance with the highest of standards of governance on the basis that all monitoring and evalualion of project delivery demonstrates achievemenl of all funders objectives and that funders, audits and vouching of financial expenditure and the Independent Examiners Report confirm complianc¢ with both probity and regularity in the use of monies received. EVENTS SINCE THE END OF THE YEAR Information relating to events since the end of th¢ year is given in the notes to the financial statements. TRUSTEES, RESPONSIBILITY STATEMENT The Irustees (who are also the directors of East Belfast Independent Advice Centre for the purposes of company law) are responsible for preparing the Report of ihe Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United. Kingdom Generally Acc¢pt¢d Accounting Practic¢) including Financial keporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires Ihe trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditur¢, of the charitable company for that period. In preparing those financial stal¢ments, the trustees are required to select suitable accounting policies and then apply th¢m ¢onsistently: observe the methods and principles in the Charity SORP, make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis'unless it is inappropriate to presume that the charitable company will continue in business.
East Belfast Inde ndent Advice Centre ort of the Trustees for the Year Ended 31 March 2024 TRUSTEES, RESPONSIBILITY STATEMENT- continued The trustees are r¢sponsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and h¢n¢e for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepar¢d in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 6 November 2024 and signed on its behalf by: Ann Martin - Trustee
Inde endent Examiner's Re ort to the Trustees of East Belfast Inde endent Advice Centre I report on the accounts of the company for the year ended 31 March 2024, which are set out on pages eleven to twenty five. Respective responsibilities of charity trustees and examiner As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under ¢ompany law and is eligible for independent ¢xaminalion. it is my responsibility to.. examine the accounts under Section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act state whether particular matters have come to my attention. BASI$ of the independent examiner's report I have examined your chartty accounts as required under Section 65 of the Charities Act and my examination was carried out in accordan¢¢ with the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a Comparison of the accounts presented with those records. It also included ¢on5ideration of any unusual ilems or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come lo my attention giving me Cause to b¢lieve' That accounting records were not kept in accordance wilh Section 386 of the Companies Act 2006 That the accounts do not accord with those a¢¢ounting records That the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to Gharities preparing their accounts in a¢cordanc¢ with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement Since your charity's gross income exceeded £250.000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because l am a mcmber of the Institute of Chartered Accountants in Ireland which is one of the listed bodies. I have completed my examination and have no concerns in Tespect of the matters (l ) to (4) listed above and. in connection with following the Directions of the Charity Commission for Northern Ireland. I have found no matters that require drawing to your attention. Mr Billy Drake The Institute of Chartered Accountants in Ireland Lynn Drake & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moira
Inde endent Examiner's Re ort to the Trustee5 of East Belfast Inde endent Advice Centre Co. Armagh BT67 OLE 6 November 2024 10
East Belfast Inde endent Advice Centre Statement of Financial Activities Incor oratin aD Income and Ex for the Year Ended 31 March 2024 enditure Aeeount 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restricted funds funds Note5 INCOME AND ENDOWMENTS FROM Charitable activities Grants Receivable 324,822 324,822 303,713 Other trading activities 650 Total 324,822 324,822 304,363 EXPENDITURE ON Charitable activities Direct Charitable Expenditure Governance 323,229 323.229 327.331 3.078 3,078 1,690 Total 326.307 326,307 329.021 NET INCOMEI(EXPENDITURE) (1,485) (1,485) (24,658) RECONCILIATION OF FUNDS Total funds brought forward 118,226 41,199 159,425 184,083 TOTAL FUNDS CARRIED FORWARD 118,226 39,714 157.940 159.425 The notes fonn part of thcse financial statements
East Belfast Inde endent Advice Centre Statement of Financial Posilion 31 March 2024 31.3.24 31.3.23 Notes CURRENT ASSETS Debtors Cash at bank 23.631 137,301 10,405 151.858 160,932 162,263 CREDITORS Amounts falling due within one year 10 (2.992) (2,83 8) NET CURRENT ASSETS 157,940 159.425 TOTAL ASSETS LESS CURRENT LIABILITIES 157.940 159,425 NET ASSETS 157,940 159,425 FUNDS Unrestricted funds Restricted funds 12 118,226 39,714 118,226 41,199 TOTAL FUNDS 157.940 159,425 The charitable company is entitled to exemption from audit under S¢¢tion 477 of the Companies Acl 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that ¢omply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of ihe charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 Telating to financial statements. so far as applicable to the charitable company. The notes form part of these financial statements 12 continued...
East Belfasl Inde endent Advice Centre Statement of Financial Position - Continued 31 March 2024 These financial statements have been prepared in accordance with the provisions applicable to charilable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 6 November 2024 and were signed on its behalf by: Ann Martin - Trustee Colin Robinson - Trustee The notes form part of these financial statements 13
East Belfast Inde endent Advice Centre Notes to the Financial Statements Tor the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements Thc financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prcpaTed under the historical cost convention. Summary of significant accounting policies (a) General information and basis of preparation East Belfast Independent Advice Centre Limited is constituled as a company limited by guarantee incorporated in Northern Ireland (N1040485). In the event of the charity being would up, the liability tn respect of the guarantee is limited to £1 per member of the charity. The charity constitutes a publi¢ benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in 2019 the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2013, the Companies Act 2006 and UK Generally Accepted Practice. The financial statements are prepared on a going Concern basis und¢r the historical cosl convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. (b) Fund$ Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purpose5. The aim and use of each deslgnated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Further explanation of the nature and purpos¢ of each fund is included in the notes to the financial statements. (c) In¢ome recognition 14 continued...
East Belfast Inde endent Advice Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES- continued Basis of preparlng the financial statements All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, Ihe amount can be measured reliably, and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions artached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Voluntary income is received by way of grants. donations and gifts and is included in full in the Statement of Financial Activities (SOFA) when receivable. Income received from collections is recognised when received. Donated facilities and donated professional services are recognis¢d in income at iheir fair value when their economic benefit is probable, it can be measured reliably, and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the 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 recognised in expenditure. No amount is included in the financial statements for volunteer lime in line with the SORP (FRS 102). Further detail is given in the Trustees, Annual Report. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is r¢¢ognised when entitlement has occurred. The charity receives governmeni grants which are detailed within the notes to these financial statements. Income from government and other grants are recognised ai fair value when the charity has entitlement after any performance conditions have been met. it is probable that the income will be received, and the amount can b¢ measured reliably. If entitlement is nol met, then these amounts are deferred. (d) Expenditure recognition All expenditure is accounted for on an accruals basis inclusive of V AT which cannot be recovered and has been classified under headings ihat aggregate all costs related to the category. Expenditure is recognised where there is a legal or ¢onstructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured rellably. It is Categorised under the following headlngs: Costs of raising funds includes the costs associated with attracting voluntary incomes. Expenditure on charitable activities includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. 11 includes both costs thal can be allocated directly to such activities and ihose costs of an indirect nature necessary to support them. and Other expenditure represents those items not falling into the categories above. 15 continued...
East Belfast Inde endent Adviee Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - continued Basis of preparing the finAncial statements Irrecoverable VAT is charged as an expense against th¢ activity for which expenditure arose. Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is a¢¢rued as soon as the recipienl is notified of the grant, as.this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity. (e) Support eosts allocation Support costs are those thal assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of th¢ charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocaled to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on an insert detail basis and other overhead5 have been allocated on a basis consistent with ihe use of resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the cosls of disseminating information in support of the charitable activities. (Q Tangible fixed assets Tangible fixed assets are stated at cost less accumulated depreciation and a¢¢umulated impairment losses. Cost Includes costs directly attributable lo making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systemalic basis over its expected useful life as follows Improv¢ments to property - 250/+J Straight Line Fixtures and fittings 250/0 Straight Line (g) Financial Instruments A financial asset or a financial liability is recognised only when the charity becomes a party to th¢ contractual provision of the instrument. Basic financial instruments are initially recognised at th¢ amounts receivable OT payable including any related transactlon costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or relived and not discounted. Debt instruments are subsequently measured at amortised cost. 16 continued...
East Belfast Inde endent Advice Centre Notes to the Financial Statements- continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - eontinued Basis of preparing the financial Statements Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and ¢xpenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including dertvatives, are initially recognised at fair value. unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which Cas¢ the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value with any Changes recognised in the statement of financial activities, wilh the exception of hedging instruments in a designed hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. if there is objective evidence of impairment an impairmeni loss is recognised under the appropriate heading in the stalement of financial activities in which the initial gain is recognised. For all equity instruments regardless of significance, and other financial assets that are individual ly significant, these are assessed individually for impairment. Other financial assets are either assessed indtvidually or grouped on the basis of simi lar credit risk Characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds whal the carrying amount would have been had the impairment not previously been recognised. (h) Impalrment Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists. the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount, Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profil or loss unless the asset is carried at a revalued amount where th¢ impairment loss is a revaluation decrease. (i) Provisions Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event. it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. (i) Leases Assets acquired under finance leases are capitalised and depreciated over the shorter of the leas¢ term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of ihe outstanding lease liabtlity using the effectiv¢ interest method. The related obligations. net of future finance charges, are included in creditors. 17 continued...
East Belfast Inde endent Advi¢e Centre Noles to the Financial Statements - continued ror the Year Ended 31 March 2024 ACCOUNTING POLICIES- continued Basis of preparing the financial statements Rentals payable and receivable under operating leases are charged to the SOFA on a straight line basis over the period of the lease. (k) TAX No provision is required for taxation as the company is defined as a charity for taxation purposes. The charity is a rcgistered charity and so such is entitled to certain tax exemptions on income and profits from investments and surpluses on any trading activities carried on in furtherance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes. (l) Golng concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity lo b¢ able to continue as a going concern. (m) Judgements estimates The followin8 judgements including those involving estimates that have been made in the process of applying the above accounting policies that have had the most significant effect on the amounts recognised in the financial statements and that have a significant risk of causing a material adjuslm¢nt to the carrying amount5 of assets and liabilities within the next financial year.. (i) depreciation method and asset useful live5 (li) principal assumptions used to measure multi-employer defined benefit pension schemes, liabilities, sensitivities to changes in assumptions and future funding obligations The estimates and assumptions are reviewed on an ongoing basis considering the current and future market conditions. Fund accounting The Company has various types of funds for which it is responsible, and which require separate disclosure. Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financ5al statements. 18 continued...
East Belfast Inde endent Advice Centre Notes to the FinancAal Statements - continued for the Year Ended 31 Mareh 2024 ACCOUNTING POLICIES - eontinued Pension costs and other post-retirement benefits The charitable company operates a defjned contribution pension scheme. Contributions payable lo the charitable company's pension scheme are charged to the Siatement of Financial Activities in the period to which they relate. Defined contributions plans Contributions to defined contribution plans are recognised as an expens¢ in the period in which the related service is provided. Prepaid contributions are rccognised as an asset to the extent that the prepayment will lead to a reduction in the future payments of a cash refund. When contributions are not expected to be s¢ttl¢d wholly within 12 months of th¢ end of the reporting date in which the employees render ihe related service, the liability is measured on a discounted present value basis. The unwinding of the discount is re¢ognised in finance costs in profit or loss in the period in which it arises. Contingent liability A contingent liability exisls to repay any grants received should certain conditions not be fulfilled by the Company. OTHER TRADING AcfiviTIES 31.3.24 31.3.23 Fundraising and Donations Asert 250 400 650 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Activity Grants Receivable Grants 324,822 303,713 Grants received, included in the above. are as follows: 31.3.24 31.3.23 Halifax Foundation (Nl) Public Health Agency Henry Smith Charity Belfast Health and Social Care Trust Mental Health Belfast City Council - Generalist Advice Funding Belfast City Council - Welfare Reform Support Project Advice Nl - Debt Project Department of Communities Advice Nl Feed Britian i 0,000 34,381 60.000 98,958 73,221 31,262 2.000 18,973 33,206 29,400 104,268 72,199 31,262 4.000 2,905 7,500 15,000 324,822 303,713 19 continued...
East Belfast Inde endent Advice Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingJ(crediting): 31.3.24 31.3.23 Bank Fees Independent Examiner Fee 188 2,890 166 2.690 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, r¢muneralion or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS 31.3.24 31.3.23 Wages and salaries Social security costs Other pension costs 231,590 14,407 19.685 225,327 15,196 19.153 265,682 259,676 The average monthly number of employees during the year was as follows: 31.3.24 10 31.3.23 10 Management & Administration No employees received emoluments in excess of £60,000. 20 continued...
East Belfast Inde endent Advice Centre Noles to the Financial Statements - continued for the Year Ended 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Charitable aelivities Grants Receivable 303.713 303.713 Other trading activities 650 650 TotAI 650 303,713 304,363 EXPENDITURE ON Charitable activilies Direct Charitable Expenditure Governance 363 326,968 327,331 50 1,640 1,690 Total 413 328.608 329,021 NET INCOMEI(EXPENDITURE) Transfers between fundg 237 20.000 (24.895) (20,000) (24,658) Net movement in funds 20,237 (44,895) (24,658) RECONCILIATJON OF FUNDS Total funds brought forward 97,989 86,094 184.083 TOTAL FUNDS CARRIED FORWARD 118.226 41,199 159,425 TANGIBLE FIXED ASSETS Improvements to property Ftxtures and fittings Totals COST At l April 2023 and 31 March 2024 4,066 34,526 38,592 DEPRECIATION At l April 2023 and 31 March 2024 4.066 34,526 38,592 NET BOOK VALUE At 31 March 2024 At 31 March 2023 21 continued...
East Belfast Inde endent Advice Centre Notes to the Financial Stalements- continued for the Year Ended 31 March 2024 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Belfast City Council Advice Nl Department of Communities 15,631 8,000 7,500 2.905 23,631 10,405 10. CREDJTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Accruals and deferred income 2,992 2.838 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restri¢ted funds funds Currenl assets Current liabilities 118,356 (130) 42,576 (2,862) 160,932 {2,992) 162,263 (2,838) 118,226 39,714 157.940 159,425 12. MOVEMENT IN FUNDS Net movement in funds At 3113124 At 114123 Unre5trieted funds General fund 18,226 118.226 Restricted funds Henry Smith Charity Belfast Health and Social Care Trust- Menlal Health Belfast City Council Generalist Advice Funding Department for Communities Advice Nl Feed Brltian 22,133 6,527 28.660 8,661 (1,706) 6,955 980 (2,905) (4,381) 980 2,905 7,500 3.119 41,199 (1.485) 39,714 TOTAL FUNDS 159,425 (1,485) 157,940 22 continued...
East Belfast Inde endent Advice Centre Notes to the Financial Statement$- continued for the Year Ended 31 March 2024 12. MOVEMENT IN FUNDS- continued Net movement in funds. included in the above are as follows: Incoming resources Resources expended Movement in funds Restricted funds Halifax Foundation (Nl) Public Health Agency Henry Smith Charity Belfast Health and Social Care Trust- Mental Health Belfast City Council Generalist Advice Funding Belfast City Council - Welfare Reform Support Project Advice Nl - Debt Project Department for Communities Advice Nl Feed Britian 10.000 34,381 60,000 (i 0,000) (34.381) (53,473) 6.527 98,958 {100.664) (1,706) 73.221 (72,241) 980 31,262 2,000 (31,262) (2,000) (2,905) (19,381) {2,905) (4,381) 15,000 324,822 (326,307) (1,485) TOTAL FUNDS 324,822 (326,307) (1,485) Comparatlves for movement In funds Net movement in funds Transfers between funds At 3113123 At 114122 Unrestricted fund$ General fund 97,989 237 20,000 18,226 Restricted funds Halifax Foundation (Nl) John Wilson Memorial fund Henry Smith Charity Belfast Health and Social Care Trust- Mental Health Belfast City Council - Financial Inclusion Fund Department for Communities Advice Nl Feed Britian 486 20,000 41,900 (486) (20,000) (19.767) 22,133 8,333 328 8,661 15,375 {15.375) 2.905 7,500 2,905 7,500 86,094 (24,895) (20,000) 41,199 TOTAL FUNDS 184,083 (24,658) 159,425 23 continued.
East Belfast Inde endent Advice Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 12. MOVEMENT IN FUNDS- continued Comparative net movement in funds. included in the above are as follows". Incoming resources Resources expended Movement in funds Unrestricted funds General fund 650 (413) 237 Restricted funds Halifax Foundation (Nl) Public Health Agency Henry Smith Charity Belfast Health and Social Care Trust- Mental Health Belfast City Council Generalist Advice Funding Belfast City Council - Financial Jnclusion Fund Belfast City Council - Welfare Reform Support Project Advice Nl - Debt Project Department for Communities Advice Nl Feed Britian 18,973 33,206 29,400 (19,459) (33,206) (49,167) (486) (19.767) 104,268 (103,940) 328 72,199 (72,199) (15,375) (15,375) 31.262 4,000 2.905 7,500 (31,262) (4,000) 2,905 7,500 303,713 (328,608) (24.895) TOTAL FUNDS 304.363 (329,021) (24.658) 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. 14. POST BALANCE SHEET EVENTS There were no events after the reporting period therefore no material issues need disclosed. 24 continued...
East Belfast Inde endent Advice Centre Notes to the Financial Statements - continued for the Year Ended 31 Mareh 2024 15. WINDING UP Every member of the Company undertakes to contribute to the assets of the Company. in the event of the same being wound up while it is a member. or within one year after it ceases to be a member, for payment of the debts and liabilities of the Company contracted before it ceases to be a member, and of the costs, Charges and expenses of winding up, and for the adjustment of the rights of the contributor's among themselves. such amount as may be required not exceeding one pound. 16. SHARE CAPITAL The Company is Limited by Guarantee and has no Share Capital 25
East Belfast Inde endent Advice Centre Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3,24 31.3.23 INCOME AND ENDOWMENTS Other trading activities Fundraising and Donations Asert 250 400 650 Chvdritable activitles Grants 324,822 303,713 Total Incoming resources 324,822 304,363 EXPENDITURE Charitable aetivities Wages Social security Pensions Insurance Telephone and Intern¢t Postage and stalionery Advertising and Recruitment Sundries Volunteers Expenses & Training Affiliation Fees &Publications Cleaning & Consumables Rent and Room Hire IT Support & Equipment Staff Travel & Training Consuliancy Health & Safety Service level agreement Catering and Hospitality Staff Support Vouchers Donation - Nl Hospice 231,590 14,407 19,685 3,058 362 ,595 225,327 15,196 19,153 3,216 106 1,692 1.797 1,046 2,867 8,757 58 20,640 7,640 3,835 6,800 574 1,600 741 5.070 50 1,326 5,578 8,880 20,640 2.081 2,428 ,680 643 1,600 674 323,229 326.165 Support costs Governance eo$t$ Bank Fees Carried forward 188 188 166 166 This page does not form part of the statutory financial statements 26
East Belfast Inde endent Advice Cenlre Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 Govern2Dee costs Brought forward Independent Examiner Fee 188 2.890 166 2,690 3,078 2,856 Total resources expended 326,307 329,021 Net expenditure (1,485) (24,658) This page does not form part of the statutory financial statements 27