Sailortown Regeneration Group
Annual Report and Unaudited Financial Statements
for the financial year ended 31 March 2024
DNTCA Llmited
Chartered Accountants and Statutory Auditor
Ormeau House
91-97 Ormeau Road
Belfast
BT7 1SH
Charity Number: 1018704)

Sailortown Regeneration Group
CONTENTS
Page
Reference and Administrative Information
Trustees, Report
statement of Trustees, Responsibilities
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
10-14
Supplementary Information relating to the Financial Statements
16-18

Sailortown Regeneration Group
REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees
John Gray
James McDyer
Andrew Molloy
Aisling Madden
Rosemary McDyer
Martina Campbell
Charlty Number in Northern Ireland
101870-0
Principal Address
11-13 Garmoyle Street
Belfast
BT15 1DY
Independent Examiner
DNTCA Limited
Chartered Accountants and Statutory Auditor
Ormeau House
91-97 Ormeau Road
Belfast
BT7 1SH

Sailortown Regeneration Group
TRUSTEES, REPORT
for the financial year ended 31 March 2024
The trustees present their Trustees, Report and the unaudited financial statements for the financial year ended 31
March 2024.
The financial statements are prepared in accordance with the Charities Act (Northern Ireland) 2008, FRS 102 The
Financial Reporting Standard applicable in the UK and Republic of Ireland and Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The Trustees, Report contains the information required to be provided in the Trustees, Annual Report under the
Statement of Recommended Practice (SORP) guidelines. The trustees of the charity are also charity trustees for the
purpose of charity law and under the charity's constitution are known as members of the board of trustees.
In this report the trustees of Sailortown Regeneration Group present a summary of its purpose, governance, activities,
achievements and finances for the financial year 31 March 2024.
The charity is a registered charity and although not obliged to comply with the Statement of Recommended Practice
applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where
relevant in these financial statements.
Mission, Objectives and Strategy
Mission Statement
Establish Sailortown as a gateway to North Belfast with St Joseph's Church and Parochial House at its heart.
Objectives
Establishment of a thriving, diverse Sailortown Urban Village in Belfast Docks.
strategy
To promote urban regeneration and advance community development.
To further these purposes for the public benefit, SRG carries out the following activities:
Improve public amenities, facilities and infrastructure
Work with partners to support Community cohesion and the development of a sustainable community within
Sailortown
To establish a community facility and cooperate with statutory and voluntary organisations to maintain and manage
such facility for activities
Financial Review
The results for the financial year are set out on page 8 and additional notes are provided showing income and
expenditure in greater detail.
Results and Dividends
At the end of the financial year the charity has assets of £444,853 (2023 - £410,927) and liabilities of £900 (2023
£750), The net assets of the charity have increased by £33,776.
Future Outlook
In 2025, a key focus will be to strengthen our Governance Skills by identifying key skills needed for strong leadership
as better times are finally in sight for Sailortown,
We WIEI seek to create strong relationships with Local Housing providers to ensure they work for the benefit of the
tenants.
We will continue to engage with placemaking agencies to create people friendly connections which improve our local
neighbourhood.
And finally we will target major Capital Restoration funding to achieve our key goal of restoring our 2 listed buildings
as part of our North Belfast Flagship project.
In accordance with the Constitution, the trustees retire by rotation and, being eligible, offer themselves for re-election.
Compliance with Sector-wide Legislation and Standards
The charity engages pro-actively with legislation, standards and codes which are developed for the sector. Sailortown
Regeneration Group subscribes to and is compliant with the following:
The Charities SORP (FRS 102)
Executive Summary
2023-2024 was another year of working to regenerate Sailortown. We provided activities for our local residents
through a range of activities including Sports, Circus skills, Artslcrafts, Bingo and Boxing. We also held the 2nd year
of our Sailortown Festival in June,

Sailortown Regeneration Group
TRUSTEES, REPORT
for the financial year ended 31 March 2024
St Joseph's, now open for meanwhile use, was able to offer venue hire to a number of Arts and Culture organisations
including Cath Q, Festival, Opera Nl and Belfast Harps Festival. The space is very popular wrth local musicians due to
its fantastic acoustics and was used for Gigs, filming, Yoga and Boxing events. We collaborated with the Stella Maris
Hostel on a community artwork installation and with Ulster University on a new website for St Joseph's .
The year saw Sailortown centrally included in wider connectivity plans for the city of Belfast. A new bridge is proposed
to link Sailortown to Titanic and create
'Maritlme Mile Loop., More detail
is
here:
wesleyjohnstonsailortowntitanicbridge.
There is a way to go yet, but hopefully we are a step nearer to realising our long term vision for Sailortown to be
re-integrated into the City as an inner city Urban village. Thanks to the tenacity of the Sailortown ex residents Belfast's
Docks heritage will be remembered.
There are also plans to build new Social and affordable Homes in Sailortown: Pilotstreethousing. Again a Key step
towards repopulating an area devasted by the Belfast Inner City MotorsNay. There are however still challenges.
Sailortown needs to be included in City Centre and North Belfast Neighbourhood Renewal plans and badly needs
investment in independent businesses, Community spaces and public realm improvements.
We are calling for implementation of the YSIPlacemakingReview recommendations and a focus on the needs of
people not traffic.
A highlight of the year was being presented with a Cooperation Ireland; Pride of Place award which was celebrated in
the Harbour Offices and at a reception sn the Lord Mayor's Parlour. We were also shortlisted for an Aisling Award and
a Ulster Architectural Society Heritage Angels Award where we were runners up in the 'Best Maintenance of a Histoic
Building or Place, category. Hopefully this recognition will assist us In our objective to restore St Joseph's as an iconic
Community Space.
Approved by the Board of Trustees on
and signed on its behalf by:
Jam
Tr
yer
tee

Sailortown Regeneration Group
STATEMENT OF TRUSTEES, RESPONSIBILITIES
for the financial year ended 31 March 2024
The trustees are responsible for preparing the financial statements in accordance with applicable law and regulations.
The law applicable to charities in Northern Ireland requires the trustees to prepare financial statements for each
financial year which give a true and fair view of the assets, liabilities and financial position of the charity as at the
financial year end date and of the surplus or deficit of the charity and otherwise comply with the Charities Act
(Northern Ireland) 2008.
In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently.
observe the methods and principles in the Charities SORP
make judgements and accounting estimates that are reasonable and prudent,
state whether the financial statements have been prepared in accordance with applicable accounting standards,
identify those standards, and note the effect and the reasons for any material departure from those standards. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will continue in operation.
The trustees confirm that they have complied with the above requirements in preparing the financial statements.
As explained in note 3, state whether the applicable in the UK and Republic of Ireland FRS 102 has been followed.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the
charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and
enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008. They are
also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
Approved by the Board of Trustees on /1
02
and signed on its behalf by:
James Mc
Trustee
er

Sailortown Regeneration Group
INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES
OF SAILORTOWN REGENERATION GROUP
We have examined the financial statements of the charity for the financial year ended 31 March 2024, which comprise
the Statement of Financial Activities, the Balance Sheet and the related notes.
This report is made solely to the charity's members, as a body, in accordance with the Charities Act (Northern Ireland)
2008. Our work has been undertaken so that we might compile the financial statements that we have been engaged
to compile, report to the Board of Trustees that we have done so, and state those matters that we have agreed to
state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the charity and the charity's members, as a body, for our work, or for this
report.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the financial statements in accordance with the
requirements of the Charities Act (Northern Ireland) 2008, The charity's trustees consider that an audit is not required
for this financial year under the Charities Act (Northern Ireland) 2008 and that an independent examination is
required.
It is our responsibility to:
examine the financial statements under section 65 of the Charities Act.
follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland
under section 65(9)(b) of the Charities Act. and
state whether particular matters have come to our attention.
Basis of independent examiner's report
We have examined your charity financial statements as required under section 65 of the Charities Act and our
examination was carried out in accordance with the general Directions given by the Charity Commission for Northern
Ireland under section 65(9)(b) of the Charities Act. An examination includes a review of the accounting records kept
by the charity and a comparison of the financial statements presented with those records. It also includes
consideration of any unusual items or disclosures in the financial statements and seeking explanations from the
trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be
required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair, view
and the report is limited to those matters set out in the statement below.
In connection with our examination, no matter has come to our attention which gives us cause to believe that in, any
material respect:
accounting records were not kept in accordance with section 63 of the Charities Act
the financial statements do not accord with those accounting records
the financial statements have not been prepared in accordance with the 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 (FRS102)
there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
We have no concerns and have come across no other matters in connection with the examination to which attention
should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Mr Mike Nangle
DNTCA LIMITED
Chartered Accountants and Statutory Auditor
Ormeau House
91-97 Ormeau Road
Belfast
BT7 1SH
/'s
Date: .........

Sailortown Regeneration Group
STATEMENT OF FINANCIAL ACTIVITIES
for the financial year ended 31 March 2024
Unrestricted Restricted
Funds
Funds
2024
2024
Total Unrestricted Restricted
Funds
Funds
Funds
2024
2023
2023
Total
Funds
2023
Notes
Income
Charitable activities
Grants from governments
and other co-funders
other trading activities
Other income
156,054
156,054
126,323
126,323
11,978
2,533
11,978
2,533
24,359
18,097
24,359
18,097
Total income
14,511
156,054
170,565
42,456
126,323
168,779
Expenditure
Charitable activities
17,943
118,846
136,789
89,912
49,067
138,979
Net Incomel(expendlture)
(3,432)
37,208
33,776
(47,456)
77,256
29,800
Transfers between funds
Net movement in funds for
the financial year
(3,432)
37,208
33,776
(47,456)
77,256
29,800
Reconciliation of funds:
Total funds beginning of the
year
14
332,921
77,256
410,177
380,377
380,377
Total funds at the end of
the year
329,489
114,464
443,953
332,921
77,256
410,177
The Statement of Financial Activities includes all gains and losses recognised in the financial year.
All income and expenditure relate to continuing activities.
The notes on pages 10 to 14 form part of the financial statements

Sailortown Regeneration Group
BALANCE SHEET
as at 31 March 2024
2024
2023
Notes
Flxed Assets
Tangible assets
11
316,396
333,973
Current Assets
Cash at bank and in hand
128,457
76,954
Creditors: Amounts falling due within one year
12
(900)
(750)
Net Current Assets
127,557
76,204
Total Assets less Current Liabilities
443,953
410,177
Funds
Restricted trust funds
General fund (unrestricted)
114,464
329,489
77,256
332,921
Total funds
14
443,953
410,177
The financial statements have been prepared in accordance with the provisions applicable to companies subject to
the small companies, regime and in accordance with FRS 102 The Financial Reporting Standard applicable in the UK
and Republic of Ireland applying Section 1A of that Standard.
Approved by the Board of Trustees and authorised for issue on /5
behalf by
and signed on its
James MCD
Trustee
The notes on pages 10 to 14 form part of the financial statements

Sailortown Regeneration Group
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
GENERAL INFORMATION
Sailortown Regeneration Group is a charity incorporated in Northern Ireland. The registered office of the
charity is 11-13 Garmoyle Street, Belfast, BT15 1DY which is also the principal place of business of the
charity. The financial statements have been presented in Pound (£) which is also the functional currency of
the charity.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items which are considered
material in relation to the charity's financial statements.
Basis of preparation
The financial statements have been prepared
under the historical cost convention, modified to include
certain items at fair value. The financial statements have been prepared in accordance with the Statement of
Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102
applying Section 1A of that Standard.
As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the
Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are to comply
with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that
SORP.
statement of compliance
The financial statements of the charity for the financial year ended 31 March 2023 have been prepared on the
going concern basis and in accordance with the Statement of Recommended Practice (SORP) Accounting
and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland FRS 102 applying Section 1A of that Standard.
Fund accounting
The following are the categories of funds maintained:
Restricted fu nds
Restricted funds represent income received which can only be used for particular purposes, as specified by
the donors. Such purposes are within the overall objectives of the charity,
Unrestrlcted funds
Unrestricted funds consist of General and Designated funds.
Gener81 funds represent amounts which are expendable at the discretion of the board, in furtherance of the
objectives of the charity.
Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular
purposes. These designations have an administrative purpose only, and do not legally restrict the board's
discretion to apply the fund.
Income
Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally
entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts
involved can be measured with sufficient reliability and it is probable that the income will be received by the
charity.
Income from charltable activlties
Income from charitable activities include income earned from the supply of seNtces under contractual
arrangements and from performance related grants which have conditions that specify the provision of
particular seprfices to be provided by the charity. Income from government and other co-funders is recognised
when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related
funding agreements. Vvhere a grant is received in advance, its recognition is deferred and included in
creditors. Where entitlement occurs before income is received, it is accrued in debtors.
Grants from governments and other co-funders typically include one of the following types of conditions:
Performance based conditions: whereby the charity is contractually entitled to funding only to the extent that
the core objectives of the grant agreement are achieved. Where the charity is meeting the core objedives of a
grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by the donor, as
10

continued
Sailortown Regeneration Group
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
income.
Time based conditions: whereby the charity is contractually entitled to funding on the condition that it is
utilised in a particular period. In these cases the charity recognises the income to the extent it is utilised within
the period specified in the agreement.
In the absence of such condittons, assuming that receipt is probable and the amount can be reliably
measured, grant income is recognised once the charity is notified of entitlement.
Grants received towards capital expenditure are credited to the Statement of Financial Activities when
received or receivable, whichever is earlier.
Expendlture
Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are
separately accumulated and disclosed, and analysed according to their major components. Expenditure is
recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic
benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs
are those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are
allocated to activities in proportion to staff time spent or other suitable measure for each activity.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to
depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated
residual value, over their expected useful lives as follows:
Long leasehold property
5 % Straight line
Cash at bank and in hand
Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of
withdrawal.
Taxation and deferred taxation
No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable
valued added tax is expensed as incurred.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date where transactions or events have occurred at that date that will result in an obligation to
pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences
between the charity's taxable profits and its results as stated in the financial statements.
Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods
in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted
or substantively enacted by the balance sheet date.
GOING CONCERN
The Trustees have not identified any material uncertainties related to events or conditions that may cast
significant doubt about the charity's ability to continue as a going concern.
CRITICAL ACCOUNTING JUDGEMENT AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and
are based on experience and other factors, including expectations of future events that are believed to be
reasonable under circumstances.
INCOME
CHARITABLE ACTIVITIES
Unrestricted Restricted
Funds
Funds
2024
2023
11

continued
Sailortown Regeneration Group
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
Grants from governments and other co-funders:
Income from charitable activities
Inter Comm
Belfast City Council
BHC
Lottery Main Grant
Clanmil comm Grant
National Heritage
Rank Foundation
Maritime Belfast
NLHF Resilient
1,569
1,480
62,783
20,000
2,576
1,480
62,783
20,000
2,576
57,138
6,500
1,500
25,616
34,000
29,715
5,000
34,500
29,715
5,000
34,500
156,054
156,054
126,323
OTHER TRADING ACTIVITIES
Unrestricted Restricted
Funds
Funds
2024
2023
Other trading activities
Trading income
1,945
22,414
11,978
11,978
11,978
11,978
24,359
OTHER INCOME
Unrestricted Restricted
Funds
Funds
2024
2023
Other income
Renu room hire
10,786
7,311
2,533
2,533
2,533
2,533
18,097
EXPENDITURE
CHARITABLE ACTIVITIES
Direct
Costs
other
Costs
Support
Costs
2024
2023
Expenditure on charitable activites
37,952
97,787
1,050
136,789
138,979
SUPPORT COSTS
Charltable
Activities
2024
2023
Support
1,050
1,050
750
ANALYSIS OF SUPPORT COSTS
2024
2023
Support
1,050
750
NET INCOME
2024
2023
Net Income is stated after chargingl(crediting):
Depreciation of tangible assets
17,577
17,577
12

continued
Sailortown Regeneration Group
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
INVESTMENT AND OTHER INCOME
2024
2023
Rent receivable - other income
Sundry income
1,324
1,052
1,645
1,324
2,697
10.
EMPLOYEES AND REMUNERATION
The staff costs comprise:
2024
2023
Wages and salaries
52,688
50,365
11.
TANGIBLE FIXED ASSETS
Long
leasehold
property
Total
Cost
At 31 March 2024
351,550
351,550
Depreciation
At 1 April 2023
Charge for the financial year
17,577
17,577
17,577
17,577
At 31 March 2024
35,154
35,154
Net book value
At 31 March 2024
316,396
316,396
At 31 March 2023
333,973
333,973
12.
CREDITORS
Amounts falling due within one year
Accruals and deferred income
2024
2023
900
750
13.
RESERVES
2024
2023
At the beginning of the year
Surplus for the financial year
At the end ofthe year
410,177
33,776
380,377
29,800
443,953
410,177
13

continued
Sailortown Regeneration Group
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
14.
FUNDS
14.1 RECONCILIATION OF MOVEMENT IN FUNDS
Unrestricted Restricted
Funds
Funds
Total
Funds
At 1 April 2022
Movement during the financial year
380,377
(47,456)
380,377
29,800
77,256
At 31 March 2023
Movement during the financial year
332,921
(3,432)
77,256
37,208
410,177
33,776
At 31 March 2024
329,489
114,464
443,953
14.2 ANALYSIS OF MOVEMENTS ON FUNDS
Balance
1 April
2023
Income Expendlture
Transfers
between
funds
Balance
31 March
2024
Restricted funds
Restricted
Unrestricted funds
Unrestricted General
77,256
156,054
118,846
114,464
332,921
14,511
17,943
329,489
Total funds
410,177
170,565
136,789
443,953
14.3 ANALYSIS OF NET ASSETS BY FUND
Fixed
assets
- charity use
Current
assets
Current
Ilabilities
Total
Unrestricted general funds
316,396
128,457
(900)
443,953
316,396
128,457
(900)
443,953
15.
POST-BALANCE SHEET EVENTS
There have been no significant events affecting the Charity since the financial year-end.
14

SAILORTOWN REGENERA
ION GROUP
SUPPLEMENTARY INFORMATION
RELATING TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
15

Sailortown Regeneration Group
SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS
OPERATING STATEMENT
for the financial year ended 31 March 2024
2024
2023
Schedule
Income
169,241
165,740
Charitable activities and other expenses
(136,789)
(138,637)
32,452
27,103
Miscellaneous income
1,324
2,697
Net surplus
33,776
29,800
The supplementary information does not form part of the financial statements
16

Sailortown Regeneration Group
SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS
SCHEDULE 1 . CHARITABLE ACTIVITIES AND OTHER EXPENSES
for the ftnancial year ended 31 March 2024
2024
2023
Expenses
Wages and salaries
Rent payable
Insurance
Light and heat
Repairs and maintenance
Telephone
Computer costs
Motor expenses
Legal and professional
Accountancy
Staff welfare
Volunteer expenses
Project costs
Subscriptions
Depreciation
52,688
2,624
895
7,725
50,365
2,282
870
2,443
12,148
1,212
771
2,373
1,141
12
12,148
1,050
204
750
1,052
49,067
100
17,577
37,952
400
17,577
136,789
138,637
The supplementary information does not form part of the financial statements
17

Sailortown Regeneration Group
SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS
SCHEDULE 2 . MISCELLANEOUS INCOME
for the financial year ended 31 March 2024
2024
2023
Miscellaneous Income
Rent receivable- other income
Sundry income
1,324
1,052
1,645
1,324
2,697
The supplementary information does not form part of the financial statements
18