Sailortown Regeneration Group Annual Report and Unaudlted Financial Statements for the financial year ended 31 March 2023 DKfcA Llmlted Ormoau Hou 91.97 Ornwii Ro•d Belf•st BT7 1SH Charrty Ilwnbor. 10187041 Sallortown Regeneration Group CONTENTS TNstee's Report Statement of Trustee's Responsibililies Independent Examinefs Report Statement of Financial Actsvitss Balance Sheot 10 Notes to the Financial Slatanents 11-15 Suppl¢rnentary Information relating to tha Finan(>d Stateme 17-19 Sallortown Regeneration Group REFERENCE AND ADMINISTrATIVE INFORMATION 101870 Prlnclpal AddrM• 11.13 Gamyle Street BT151DY Indwnd•nt Examlnor DKfcA Limited Omieau House 91.97 OMRW Rogd Bri 1SH Sallortown Regeneratlon Group TRUSTEE'S REPORT for th8 finan(ial year ended 31 Marth 2023 March 2023. FlnanGial Reporting StsrKlard appfThbt8 in UK ar¥J Rerthic of Ir•lar¥f and Aw)unting and Reporting ty Charities. Statement of Rets)mmended pra￿1￿ applicable to charilies weparing their finar¢ial Statèments in a￿￿d￿)ce wilh Ihe Finarwial Rep(xtry in the UK a￿j of IrelarKI (FRS 102). The Trustee's Re￿rt conlains the required to be provided in the Tntstee's Annual Re￿ under the ststement of Recommended Pradic8 ISORP) guidelines. The trustee of the charity are also tharity trustses for the a(*ievemwts and finan(xs foT the fin*Kial y￿r 31 20Z3. applioble in the UK and Republic of Ire￿￿1 FRS 102. n aréa shtrwcxiNJ some of histuy heritage of saIk*itr￿ dgrtal tedmbgy plans The Restored be a thrr¥iThJ (￿lmUl￿ty spao day ana nityrt txlTvJing wtKJie visitm of all ages to the Waterfront and building (Yealw￿ by attradirwJ Icmxl Indep￿ Ixffjir*s8es to the gjrrenty empty retails RegénerAtion Gr￿p subscribes to and is ￿pIle￿ Ihe follth%iry. The Charilies SORP (FRS 1021 outreath. Hentage and Arts and Culiurn. These indude arKI are rM)t limited to: Belfast Cty Council Dept of Communitses National Lott￿ Heritage FurKI Belfast Harbour MarÉtime Belfast Trust . ￿￿1teLlUral H&itsge Fund QUB Univernty of Ulster Devekjpment TfU8t NI . CQAF Beltrd8t Blues Festr¥al knierican Bar MIs8ion to S￿f8r￿s Stella Maris We are hugety grateful to all our Stskeh0lde￿ for their supp(xl kn ¢)ur to date. Ixrt ￿yenty newj other funders to Come ¢)n bxd as we embark M a large reSt￿￿1cM Fyoject whM* will ensure Sailort¢Mn's *acy of Sallortown Regeneratlon Group TRUSTEE'S REPORT ft* the finaniial year ended 31 Marth 2CI23 •lgn•d on li• b•half ty: Sallortown Regenerntlon Group STATEMENT OF TRUSTEE'S RESPONSIBILITIES for the finarKaal year 31 2023 The law applicable to in N￿tt￿n Ireland reqtllres the trustee kn wepare fjn*wl stat￿n￿ts for ea financial year whith give a true aThl lair view of ts assets. liabilities arKI ffinarKaal of (*arity as at the finano81 year end dale aThJ of the su1￿￿ or dofi(>t of th• dwity aThJ Cl￿pIY vrtlh IM Charities Act (Northem Ir8laThJ) 21Th. obs8r¥e the methods arKI prinafv in th8 Chafilies SORP A make judgements and a(tounting estimates that are rea5￿th identify those standards, arrfj rK)te the effe(* aid tr* ￿Y materia tsparture frrrtn those standards; and • prepare the finarKial statemfA)ts on the 9YNJ c(xwn ￿18$$ it is inwcyth to prewme that the tharity 11 in aperalwji. enabl6 th•m to ersure that the financaal Stat￿n￿ the Charibes Ad (NL¥11￿ Irdand) 2(X)8. He is also respOn￿bie for safeguardir•3 ￿ assets of the ¢YWty *¥J rnasonablo sterts for the rKeventiM and 202 Sallortown Regeneratlon Group INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF SAILORTOWN REGENERATION GROUP This report is made solety to the charivs rn￿b￿S, as a b(xty. in ac(￿￿￿8 *ilh lh¢ Chwtstss AGt (Northem Iraland) to comwle, report to Ihe Board of TnJ8tees that we have thxie 80, arxl slate those matters that wa have agreed to state to thern in this repth and ts r¥) ¢Aher To the fulw extent pwmitted ty law. we do not acLept or assume respor￿1th.1ty to anyo￿ other than the dwity the ￿￿1￿$ members. as a body. ow WOTK or for this retK)rt. requirements of the Chwthes Ad INry1tem Irelar¥J) 2CMJ8. The clwitls trustee Cly￿ld￿r that an audit is not required required. It ￿ aui resp(x)sibilty to.. . foll￿* the procedures laKI du%￿ by the ￿ Diredion5 the Chwity CcffimIs8￿ for N￿ffl ITeland under seclion 86(9)(b) of char￿?5 Act arna We have examined your charty finarKial Stat￿ as rewffed urthr seL#ion 65 of ts Charities Act and our examination was carried LNrt In *ryth the gw•l DirÉthons given ty the Chaiity Commission for Northem IrelaThl under sel*￿ 65(9)(b) of the Charities Ad An examinalim indud8s a rv•ryVW ￿ the acAx>utrting re¢ords kept by Gharity and a eomparison the finafM>al stat*7￿& those re¢￿ts. tt also includes consideration of any unusual rtems or thsdosrn in tne finaThial Stat￿￿ and 8•eking Èxplanatiorts from the trustee Con￿mIng any s￿h matters. The wocethres th*rtaken th) ncl provth all tre evidence that would be and the reFth is limitad to matt￿3 set wt in the Stat￿ne￿ In connection vith our examinatiffi. no matter has 10 our at￿tion giWS US txJÉa to believe that in, any materbal respect . the finarKial st8twTr￿s have rKepared in xaxdarK2 I￿1h tr* Ststeffl￿t of Rxmmended Pradce the UK and Republic of Ireland (FRS102) We have M ¢x)ncems and have cm auoss rn Ctt￿ mattws in with the exwnination to **iith attentic IT Mlk• Nangl• DNTCA LIMITED Ormeau House 91-97 Omieau Rowj Belfast BT7 1SH Sallortown Regenerntlon Group STATEMENT OF FINANCIAL ACTNITIES for th8 fjnanaal year eThJed 31 2Q3 Totsl Funds 2022 FundB Fund• Funds 2022 Funds 2022 Charitable ac*'vili8s • Grants from govwnm￿s 11 and other o>fiJndafs Otrr trading adivibes Oiher inLY)me 113.Ki7 113.￿7 6,173 1&097 6.173 6,173 113, 119,980 T¢)tal incrym 126.323 168,779 Chafitable acthitses 89.912 {47A66) 7T356 a8(Kl 49.067 138.979 51.704 103.978 155,682 (45.531) (35,702) TI356 29MYI 145.531) (35,702) Not movem•nt In fund• for 147A56) Reconclllatlon of fund8: Totsl funds beginniro of the 12 300.377 380.377 416.079 416,079 Total funds at th• ond of tho y#r 331921 77256 410.177 370,548 9.829 380.377 The Statement of Finan(i31 Athvities indudes all gains aThJ k>3ses recO￿l￿j in the finaTh>al year. th8￿p•11 to15kffliwl Sallortown Regeneratlon Group BALANCE SHEET as at 31 Marth 21Y23 2022 3S1,550 Tanglble assets Curr•nt As8•1• Cash at bank and in harKI Cr•dltorn: Amount• falllng duo *lthln on• y•r Nèt Curr•nt A••o18 74954 30,177 10 (750) (1,350) 28.827 410.1ri 380,377 Fund• Restri¢Xed tr(*t fvnds G8ner81 fund (unresthded) 77.266 332,921 9,829 370.548 Total fimds 12 410.1TI 380,377 The financAal statements have twn prepare(I In a(LL¥dwKz *ith the appkabkn to cunpanios subjec* to the smdl ¢￿￿panIeS regime and in a(xxrd8nc% with FRS 11r2 Tr FinaThiai Re￿ti￿ Stsr¥Jard applicable in ts UK and RepubliG of Ifelgnd,, apptying S•cticx) 1A of Ihat SIwKts /lA, 10 Sallortown Regeneratlon Group NOTES TO THE FINANCIAL STATEMENTS for the financial year wKled 31 Marth %Y23 GENERAL INFORMAT1014 Sw'lortown Regeneration Group is a charrty in North￿￿ IrdaThJ. The registered office of the tharlty is 11-13 &3fmoyle Street BelfasL BT15 1DY Is al80 the pir¥ipal pkn of business of the material in r￿al￿ to the dwity's finarwial &atem￿. modified to indude ￿rtain it8m5 at fabr value. The finanoal Stat￿n￿ts have b8en wepared in accordance with the Statement of Re¢ximmeThled PraL#K% {SORP}"knthinting and Rewrting by Charities preparing thelr FRS 10Z', *￿Y￿g Sec*on 1A ofthat Stathrd. Statenwrt of Finan(aal Aclivities aTrJ the Sl*d Dep￿1Th frryn Ihe stsndwd I￿ats are to ￿mpty with the requifements of the Chrn SORP w¥J in Comp1w￿ *ith 4.7. 10.6 and 15.2 of that SORP. The financial statements of the (*arity for finama yew ￿￿ed 31 Marth 2023 have been preppred on the going C￿￿rn basis and in ar£￿dance with Ihe Statement of Ro¢ornm•ndod Prat*L* (SORP) 'N£cA)unting and Reporting by Charities preparirvJ tsr acrnunts in accxxtsnce with ts Financial Reporting Standard ap￿￿1¢•ble in the UK and of Iraland FRS 10r. 8￿Ing S￿D 1A of that Standard. Fund accountlng The foll(yhirKJ are the c*gm ¢X fiwMJs Vnairthr￿th. the donors. Suth purposes are Trmthin the owall otyectives of the (*taTity. • General fvnds reve￿ arn￿￿￿ are expwldable at tre iJs¢aeliM of ts board. in frJrthefanc6 of the obie(*ves of the tr￿nty. Designated funds comprise unrestri&ed funds that the board has. at ts Ilffueti￿, Set aside for paTts"rJJlar purposes. These deS￿nati￿$ ￿e an administrative pjrpose onty, and do not l*ty restrict the l)oards discretlon to aFply ts lund. Income is reL¥Jgnised by indus1￿ in ts stat￿￿rt of FinwKial Adivib89 thy lknn the charity 18 legally entiued to the irKfjme, wfom)arth cry)dIti￿S attad*d to the iiem(s) of inoTh have b88n met the amounts tharity. P8rtI(￿[ar services to b8 woMded by the chrity. Income fron wmert and ots a>Trfurthrs is reLwnised vthen the thatity is legally entrtled to ts Income ￿uSe it is fvlfilling the oonditi(ms contained in the related • Perfonnarr£ based o)nditions". the d)th is contraduaty entitied to fundirq to the extent that the core ot4'e(#pies of the grant agreement we 8thieve(l. Wtr￿e the dority is meetirYJ the core objecaives of a grant agreement it re(x)gnises the related expwvjth. to the extert that it is reimLwrsth by the dor¥)r, as 14 Sallortown Regeneratlon Group NOTES TO THE FINANCIAL STATEMENTS ¢x)ntinued for the finan(ial year endgj 31 Marth 2023 •Time based ryMdiii(m: the dwty IS (xkndudty ￿ti￿ed to fundiThJ th) the LY)ndition that it is utilised in a partic¥lar period. In these (xses the d￿lty re(wises the Int￿Me to the extant it is uiiliwj within separatety accAJmulated and th"sdosed, Jld anatys&l acccAding to Iheir major Com￿nents. EXP￿lture is recognisad when a legal or Ct4watiM exists as a resuli of a past a transfer of economic are those functions that ￿5t the th of the dwty t￿rt canrK)t be altributed to one aGlivity. Such costs are Tangible fixed assets afe stated at cost or at valuatiM. bss arAxmiultsJ deweciaticii. The i*wge to depr￿latIon is cd¢JMated to %￿lte off the ¢xiginal ctst or valualion of tangible ￿ed assets, less thw'r estimated /• Srnht tine Ca•h at b*nk *nd In hand Cash at bank aThd in harrtl ccrfnrrftses cath C￿ d8POSrt" at TequirirvJ less tlwn three notic• of thdrawal. valued added tax is expensed as iTrxrr•a. balance sheet dat8 kn trartsathons or events have (¢￿1r8d at that date that *ill result in an obligation to pay moro tax in the fijlure. or a right to pay less tax in frrtufe. riming differms are tempwy differen D8tsTheU tax B mea5w￿l ufKbx￿rrted basie at tax rates that *e anticypated to ap￿Y in the periods in vthith the timing differpJKes are experted to reverse, ba￿ (ffi tsx rates and I￿ that ha* been enacted INCOME 3.1 CHARITA￿ ACTMT Income from charitable actNilies Inter Comm Bellast Cty CwnLal BHC Lottery Main Grant Trade up Social Hwitage Grart Clanmil CLYnm lknt 10,322 35,425 67,138 57.138 15,SCK) 19,060 DFC Live Here Love Hwe Grnnt Nati(Ybwide Grant National Hentage Rank Fwrthtion 24616 25.616 XOOO 34,000 126m3 126,323 113,807 12 Sallortown Regeneratlon Group NOTES TO THE FINANCIAL STATEMENTS for the financ¥al year ￿#￿ed 31 March %Y23 3.2 OTHER TrADING ACTivrriES 21Y22 Fund• Tr￿1￿j incornè 2022 13 OTHER IIKOIAE Other InC￿e R￿u r(￿ hire 1ffjn6 7,311 10,788 7.311 6.173 1&097 18.097 6,173 CHARITABLE AThTIES r•<¢ Supp*t Inter￿rnm St PatriL*s (kntwcanm Covid Recovery Iwitage knttery Chur(*k proied Clanmil grant Maritime Fesbval CIF Fund Project Live Here Love H￿e Grart BBC Clustor (Park￿) BBC Commwty Grants Expenditure on charitable ac*j 621 14,481 6,tE7 1,661 2.280 37.754 1.521 30,220 8,355 51,704 118 89261 750 138,979 988 89.2 750 1xm 155,682 SUPPORT COSTS Charftabl• Actlvttles 700 Suprort 760 NEf INCOME Nat Inwn8 l• •tst•d aft•r charglngl(cr•): 17.$77 13 Sallortown Regeneratlon Group NOTES TO THE FINANCIAL STATEMENTS for the finan(aal year eThJed 31 Marth 2ff23 2023 2022 1,052 8.173 Sundry income 1697 6.173 EMPLOYEES AND REM1Tr4ERATIOII The staff Costs c(xnwi88: 2023 2022 TANGIBLE FIXED ASSEf8 Long lrnwhold Total 351.550 351.560 At 31 Marth 2023 17,577 17,5TI Charge for the finanoal year At 31 Marth 2023 17,577 17.$77 Nrt I￿k valu• At 31 Marth 2023 333.973 351,550 361,650 At 31 Marth 2022 2022 111 CREDrroRS Amounts falllnp *lthln one y••r 750 11. 2023 2￿22 At the beginntng of the year Surplug(CJ8fiui) ts the finarvi81 y At￿￿￿0f￿￿Y 416.079 (35,702) 380,37T 410.1TI 14 Sallortown Regenerntlon Group NOTES TO THE FINANCIAL STATEMENTS cmtinued for the finanoal year ended 31 Marth 2¢r23 12. FUN08 111 RECONCIUATION OF IlovE￿￿T IN FUIIDS Total Funds Funds Fund• 416.079 (45.531) 416.079 (35,702) At 1 Wil 2021 Movement duriThJ Tr finenad At 31 Marth 2U22 Movement during the fjnawl year At 31 Marth 21Y23 1.377 (47.458) 380,377 29.800 77.256 332,921 410.177 12.2 ANALYSIS OF IAOVEMENTS ON FUNDS l Aprfl bot¥A•n 31 IAarch Re8trlcted fund• Restricted 126.323 77.256 332,921 Unrestrided Genaal Tolal fund• 3￿,377 41114 89,570 77 168N37 138.637 410.177 113 ANALYSIS OF NEf ASSEfs BY FLPIO Current Curront Ilabllllla• T•)tsl 333.973 333.m 76.954 76.954 (780) 410.177 1750) 410,177 1S POST4ALAMCE SkEEf EVEKrs 15 SUPPLEIAENTARY INFORMATION TIN OR THE FINA 16 Sailortown Regeneration Group SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS OPERATING STATEMENT for the finanaal year ended 31 Marth 2023 2022 165.740 113.807 (138.837) (155,882) Charitable and othw expens85 27.103 (41,875) 1697 8.173 Miscellaneolts incune (35,702) Not surplwl(deficlt> 17 Sallortown RegeneratiffiGroup SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS SCHEDULE 1 . CHARITABLE ACTivmES AND OTHER EXPENSES for the financ481 year ended 31 Maldi 21Y23 2022 44.093 2.625 287 Wages and sa payable Insurance Light ar￿ heat Repair8 and mainten Tdephone Computer costs Volunteer expwi8eS Projert Costs Subscripti¢Jns 11148 1.212 771 760 1,121 500 103,978 100 17,677 138,637 155.682 18 Sailortown Regeneration Group SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS SCHEDULE 2 . PAISCELLANEOUS INCOME for ts financyal year ended 31 Mardi 21 23 2022 1.￿2 6,173 Rent recervable- other irKThie Sundry In￿Me 2,697 8,173 19