Orchardville Society Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2023 2023 Restricted funds Total funds 2022 Unrestricted funds Total funds Note Income Donations and legacies Charilable activities Other trading activities Investment income other income 23,443 206,659 669,777 2,284 2,509 2,353 1,568,472 25,796 1,775,131 669,777 2,284 2,509 97,248 1,690,661 565,125 1,518 1,751 Total income 904,672 1,570,825 2,475,497 2,35e,303 Expenditure Expenditure on r8ising funds.. Costs of raising donations and legacies Costs of other trading activities Expenditure on charitable activities Total expenditure 10 11 12 23.499 319,473 964,786 23,499 319,473 2.487,398 28,191 238,355 2,259,509 1,522,612 1,307,758 1.522,612 2,830,370 2,526,055 Net expenditure (403,0861 48.213 (354.873) {169,752) Transfers between funds 73.143 (73.143) Net movement in funds 1329.943) (24.930) (354.8731 {169,752) Reconciliation of fund5 Total funds brought forward Total funds carrled forward 854,157 524.214 96,089 950,246 1,119,998 950,246 71,159 595,373 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from Gontinuing activities. The notes on pages 20 to 33 form part of these financial statements. 17
Orchardville Society Limited Company Limited by Guarantee statement of Financial Position 31 March 2023 2023 2022 Note Fixed assets Tangible fixed assets 17 84,073 118,131 Current assets Stocks Debtors Cash at bank and in hand 18 19 17,752 191,064 537,575 746,391 20,793 221,850 961,121 1,203,764 Creditors.. amounts falllng due within one year Net current assets 20 235.091 371,649 511.300 832,115 950,246 Total assets less current liabilities 595,373 Net assets 595,373 950,246 Funds of the charity Restricted funds Unrestricted funds 71,159 524,214 96,089 854,157 Total charity funds 24 595,373 950,246 These financial statements have been prepared in accordance with the provisions applicable lo companies subject lo the small companies, regime. These financial statements were approved by the board of trustees and aulhorised for issue on 28th November 2023, and are signed on behalf of the board by.. Kathryn Martin Trustee Louise Ti Trustee The notes on page5 20 to 33 form part of these flnancial statements. 18
Orchardville Society Limited Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2023 2023 2022 Cash flows from operatlng actlvities Net expenditure (354,873) (169.752) Adjustmenls for Depreciation of tangible fixed assets Other interest receivable and similar income Interest payable and similar charges Accrued income 40,102 12,284) 54,414 (1,518) 38 (136.8731 Changes in.. Stocks Trade and other debtors Trade and other creditors 3,041 35.753 {4.6521 (419,7861 (2,089) 91,192 40,306 Cash generated from operations 12,591 Interest paid Interest received (381 1,518 14,071 2,284 Net cash {used inllfrom operating activities 1417,5021 Cash flows from investing activities Purchase of tangible assets Proceeds from sale of tangible assets Net cash used in investing aclivities (7,566) 1,522 (6,044) 113,630) {13,630) Net Idecrease)lincrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year {423.546) 961,121 441 960,680 537,575 961,121 The notes on pages 20 to 33 forni part of these flnancial statements. 19
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office 15 Lagan Village Tower, 144-152 Ravenhill Road, Belfast, BT6 8ED. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, 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 IFRS 1021 (Charities SORP (FRS 10211 and the Companies Act 2006. Accountlng policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revalu81ion of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, whiGh is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial slalements requires management to make judgements, estimales and assumptions that affect the amounts reported. These estimates and judgement5 are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use al the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Reslricled funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. 20
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2023 Accounting policies (Continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity- it is probable that the economic benefits associated with the transaction will flow to the charity and the amounl can be reliably measured. The following specific policies are applied to particular categories of Income- income from donations or grants is recognised when there is evidence of entitlement lo the gift, receipt is probable and ils amount can be measured Teliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless thi5 15 impractical to measure reliably, in which case the value is derived from the cost to the donor or the eslimaled resale value. Donated facilities and services are recognised in the aGGounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it lo be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannol be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities. events, non-charitable trading aclivilies, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and Gosts relating to the governance of the charity apportioned to charitable aclivilies. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure ON charitable activities. All cosls are allocated lo expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activitie5 they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated Impairment losses. 21
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements {continuedJ Year ended 31 March 2023 Accounting policies (contlniJ8d) Tanglble assets fcontlnued) An increase in the carTying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless il reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which il offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreclatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual Value, over the useful economic life of that asset as follows.. Long leasehold property Fixtures and fittings Motor vehicles Equipment 40/0 straight line 20 % straight line 33 % straighl line 33 % straight line Impairment of fixed assets A review for indicators of impairment is carried out al each reporting date. with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal al each reporting date. For the purposes of impairment lesling. when it is not Possible to estirnale the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unil is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from oth8r assets or groups of assets. For impairment testing of goodwill. the goodwill acquired in a business combination is, from the acquisition dale, allocated to each of the cash-generaling units Ihat are expected lo benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Stocks Stocks are measured at the lower of cost and estimated selling price less costs to cornplete and S611. Cost inGludes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present localion and condition. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching lo them and the grants will be received. 22
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Accounting policies fcontlnuedj Government grants (contlnuedj Where the grant does not impose specified future performance-relaled conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related condilions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior lo satisfying the revenue recognition criteria, they are recognised as a Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions af the instrument. Basic financia5 instruments are initially reco9nised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can olheTwise be measured reliably, the investment is subsequently measured al fair value with changes in faiT value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value. unles5 payment for an assel is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case 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 Ihe statement of financial activities, with the exception of hedging instruments in designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for abjeclive evidence of impaiment at the end of each reporting date. If there is objective evidence of impairment. an impairment loss is recognised under the appropriate hoading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. other financial assets are either assessed individually or grouped on the basis of similar credit risk characlerislics. Any reversals of impairment are recogni5ed immediately, to the extenl that the reversal does not result in a carrying arrount of the financial asset that exceeds whal the carrying amount would have been had the impairment not previously been recognised. 23
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements f¢ontinuedJ Year ended 31 March 2023 Accounting pollcies (eontlnuodj Defined contrlbutlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepaymenl will lead la a reduction in future payments or a cash refund. When contributions are not expected lo be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of thè discount is recognised as an expense in the period in which it arises. Lirnited by guarantee The company is limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of it being wound up while he or she is a member or within one year after he or she ceases to be a member. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations Sundry donations 23,443 2,353 25,796 Grants Covid Charity Grant 23,443 2,353 25,796 Unrestricted Funds Reslri¢led Total Funds Funds 2022 Donations Sundiy donations 38,948 6,412 45,360 Grants Covid Charily Grant 51,888 90,836 51,888 6,412 97,248 24
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements feontinued) Year ended 31 March 2023 Charitable activities Unreslricted Funds Restricted Total Funds Funds 2023 SDS Income Travel lo Work DOF Covid Re-cafes BBC - Children in Need Employabilrty solutions BHSCT Income Employability Solutions Craft Income DOH Castle Buildings Community Foundation Nl DfE DOF Covid Omicron Hospitality HMRC JRS grant Carers Fund Department of Justi Rank Foundation OCN Nl grant Department of Health Mid and East Antrim BC The Cedar Foundation Barclays ESF Grant Aid Belfast Health & Social Care Trust Clasp Project Workable Tap2 South Eastern Health & Social Care Trust Western Health & Social Care Trust Erasmus 96,274 4,209 96,274 4,209 39,833 36,379 39,833 36,379 46,838 46,838 3,000 3,000 35,330 4,000 12,797 288 35,330 4,000 12,797 3,628 35,305 2,900 70 12,610 489,570 252,691 24.447 203.635 66,809 383,414 21,392 3,340 35.305 2.900 70 12,610 489,570 252,691 24.447 95.069 66,809 383,414 21,392 108,566 206,659 1,568,472 1,775,131 25
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2023 Charitable activities (conlinuedj Unrestricted Funds Restricted Total Funds Funds 2022 SDS Income Travel to Work DOF Covid Re-cafes BBC - Children in Need Employability solutions BHSCT Income Employability Solutions Craft Income DOH Castle Buildings Community Foundation Nl DfE DOF Covid Omicron Hospitality HMRC JRS grant Carers Fund Department of Justice Rank Foundation OCN Nl grant Department of Health Mid and East Antrim BC The Cedar Foundation Barclays ESF Grant Aid Belfast Health & Social Care Trust Clasp Project Workable Tap2 South Eastern Health & Social Care Trust Weslern Health & Social Car8 Trust Erasmus 60,222 1,096 15,086 39,333 35,345 60,222 1,098 15,086 39,333 35,345 279 76,982 12,000 2,000 20,000 20,598 279 76,982 12,000 2,000 20.000 20,598 520,098 312.496 520.098 312,496 58,842 93,962 152,804 19,878 375.087 21,241 6,116 1.480,082 394,965 21,241 6,116 210,579 1,690,661 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 The Orchard Café Bvsiness Centre Orchard Café at The Grove Orchardville Cleans TR Fastenings Income 182,085 106,965 225,931 154,796 182,085 106,965 225,931 154,796 186,822 111,434 176,533 87,363 2,973 186,822 111.434 176,533 87.363 2.973 669,777 669,777 565,125 565.125 26
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2023 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest 2,284 2,284 1,518 1,518 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Other income 2,509 2,509 1,751 1,751 10. Costs of raising donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Fundraising costs Donations costs 8,660 14,839 8,660 14,839 23,499 3,964 24,227 3,964 24,227 28,191 23,499 28.191 11. Costs of other trading actlvlties Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Fursds 2022 The Orchard Café Business Centre The Foundry Orchard Café al The Grove 208,319 74,747 208,319 74,747 43,914 82,161 70,666 41,614 43,914 82,161 70,666 41,614 36,407 36,407 319,473 319,473 238,355 238,355 12. Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2023 Total fund 2022 Employment & Skills Community Provision Supported Training Induslrial Solulions Fundraising Governance costs 1,076,811 616,288 206,521 30,312 234,404 184.394 70,556 1,311,215 800,682 277,077 30,312 8,348 59,764 1,099,783 755,751 328.209 4,480 7,509 63,777 8,348 59,764 1,929.932 557,466 2,487,398 2,259,509 27
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 March 2023 13. Analysis of support costs Costs of generating voluntary income Total 2023 Total 2022 Employment Community Supported & Skills Provision Training Staff costs Premises Communications and IT General office Governance cosls 159,304 52.944 150,807 17,253 52,318 4,535 5,071 2,150 367,500 76,882 299,469 64,419 6,729 15,427 24,830 4.938 11.396 17,757 4,133 9,570 16,064 86,620 342 785 1,113 16,142 37,178 59,764 557.466 19.810 36,361 63,777 259,234 202,151 9,461 483,836 14. Net expenditure Net expenditure is slated after chargingl(creditingl'. 2023 2022 Depreciation of tangible fixed assets Fees payable for the audit of the financial statements 40,102 9,384 54,414 9,084 15. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follow5: 2023 2022 Wages and salaries Social security costs Employer contribution5 to pension plans Other employee benefits 1,762,649 125.479 125,316 1,581.947 106.947 99,510 3,418 2,013,444 1.791,822 The average head count of employees during the year was 121 (2022.. 99). The average number of full-time equivalent employees during the year is analysed as follows.. 2023 2022 Total head count of staff 121 99 No employee received employee benefits of more than £60.000 during the year (2022.. Nill. Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning. directing and controlling the activities of the charity, The total compensation paid to key management personnel for services provided to Ihe charity was £367,499 (2022.'£299,3991. 28
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 16. Trustee remuneration and expenses The charity trustees were not paid or received any other benefits from employment with the Charily in the year {2022'. NIL). Trustees were not reimbursed for any travel expenses during the year (2022. NIL}. 17. Tangible fixed assets Long leasehold Fixtures and property fittings Motor vehicles Equipment Total Cost At 1 April 2022 Additions Disposals At 31 March 2023 180,583 131.081 2,035 (1,065) 132,051 6,879 208,557 5.531 527,080 7,566 {6,372) 528,274 (5.307) 175.256 6,879 214,088 Depreciation At 1 April 2022 Charge for the year Disposals At 31 March 2023 115.964 12,925 14,069) 124,820 115,954 5.638 (7811 120,811 3,249 2,293 173.782 19,246 408,949 40,102 (4.850) 444,201 5,542 193.028 Carrylng amounl At 31 March 2023 50,436 11,240 15,127 1,337 21,060 84,073 118.131 At 31 March 2022 64,599 3,630 34,775 18. Stocks 2023 2022 Finished goods and goods for resale 17.752 20.793 19. Debtors 2023 2022 Trade debtors Prepayments and a¢¢rued income Other debtors 70,913 22,768 97,383 88,159 17,801 115,890 191.064 221.850 29
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements (eontlnued) Year ended 31 March 2023 20. Creditors: arnounts falling due within one year 2023 2022 Trade creditors Accrua15 and deferred income Social security and other taxes Other creditors 36,313 130,840 56,447 11,491 49,969 262,746 49,481 9,453 235,091 371.649 21. Deferred income 2023 2022 At 1 April 2022 Amount released to income Amount deferred in year At 31 March 2023 3,567 {3,567} 60,444 14.997 (14.9971 3,567 3,567 60,444 22. Pensions and other post retirement benefits Defined contribution plans The arnounl recognised in income or expenditure as an expense in relation to defined contribution plans was £125,316 (2022.. £99,510). 23. Government grants The amounts recognised in the financial statements for government grants are as follows.. 2023 2022 Recognised in creditors.. Deferred government grants due within one year 3.567 14,997 30
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2023 24. Analysis of charitable funds Unrestricted funds At 31 March 202 At 1 April 2022 Income Expenditure Transfers General funds Designated Fund 854,157 904,672 {1,307,758) 73,143 524,214 854,157 904,672 (1,307,758) 73.143 524,214 At 31 March 202 At 1 April 2021 Income Expenditure Transfers General funds Designated Fund 840.221 210,000 1,050.221 869.809 {1,065,873) 210,000 (210,0001 854,157 869,809 {1.065.873) 854,157 The £210,000 which was previously designated for the purchase of the Lagan Village Tower premises, has now been moved into general funds, as the purchase of LVT is no longer being considered. Restricted funds At 31 March 202 At 1 April 2022 Income Expenditure Transfers ESF Eramsus Travel to Work The Bally Thomas Charitable Fund Garfield Weston Foundation Orchardville DFC Restricted Donations SDS Income BBC Children in need Employability BHSCT Workable Western Health and Social Care Trust South Eastern Health and Social Care Trusl Belfast Health and Social Care Trust DOF Covid Cafes Community Foundation 489,570 1489,570) 61,238 (61,238) 4,209 (4,209) 3,000 (3,0001 8,905 177 2,573 16,591 22 3,583 18,905) 177 2,573 64,804 22 3,583 2,353 96,274 39,833 36,379 95,069 (2.353} (48,0611 (39,8331 136,379) 195.069) 21,392 {21,392) 383,414 {383,414) 343,947 {343.947) 3,000 (3,000) 31
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements {contlnued) Year ended 31 March 2023 24. Analysis of charitable funds (conllnued) Carers Fund Department of Justice Rank Foundation OCN Nl Grant Mid and East Antrim BC The Cedar Foundation 35,330 4,000 12,797 288 2,900 70 (35,3301 14,0001 (12,7971 {288} 12,900} {70) 1,570,825 <1,522,612) 96,089 (73,143) 71,159 At 31 March 202 At 1 April 2021 Income Expenditure Transfers ESF Eramsus Travel to Work The Bally Thomas Charitable Fund Garfield Weston Foundation Orchardville DFC Reslricled Donations SDS Income BBC Children in need Employability BHSCT Workable Western Health and Social Care Trust South Eastern Health and Social Care Trust Belfast Health and Social Care Trust DOF Covid Cafes Communily Foundation 520,098 6,116 1,096 {520,0981 55,122 61,238 (1,096) 3,000 3,000 8,905 177 2,573 8,905 177 2,573 16,591 22 3,583 6.412 60,222 39,333 35,345 93,962 16,412) (43,631) (39,311) (31,762) (93,962) 21.241 (21,241) 375,087 (375,087) 312,496 15.086 {312.496) (15,086) Carers Fund Department of Justice Rank Foundation OCN Nl Grant Mid and East Anlrim BC The Cedar Foundation 69,777 1,486,494 (1,460,182} 96,089 32
Orchardville Society Limited Company Limited by Guarantee Notes to the Financial Statements fcontlnugd) Year ended 31 March 2023 25. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 84,073 671,665 (231,5241 524,214 84,073 74,726 746,391 13,5671 (235,091) 71,159 595,373 Unreslricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Net assets 118,131 1,203.764 (371,649) 950.246 118,131 1,203,764 (371,649) 950.246 26. Taxation The Company is a registered charity, and as such is entitled to tax exemptions on income and profits in furtherance of the charity's primary objeGlives. 27. Related parties Ther8 were no related party Iransactions incurred during Ihe year. 28. Analysis of changes in net debt At At 1 Apr 2022 Cash flows 31 Mar 2023 Cash at bank and in hand 961,121 <423,546) 537,575 29. Contingencies A contingent liabilily exists to repay grants received should certain conditions not be fulfilled by the charity. In the opinion of the Trustees, the terms of the Lellers of Offer have been, or will be, complied with and no liability is expected. 33