MONKSTOWN COMMUNITY FORUM Statement of Financial Activities FOR THE YEAR ENDED 30 SEPTEMBER 2023 30/9/23 Total funds 30/9122 Total funds Unrestrirted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Chai'itable activities Chai'itable activities 256,767 17,600 274,367 253,254 Investment income 8,306 8,306 1,495 Total 265,073 17.600 282,673 254,749 EXPENDITURE ON Charitable activities Charitable activities 325,287 17,600 342,887 285,598 NET INCOME/(EXPENDITURE) Transfers between funds (60,214) 277,700 (60,214) {30,849] io (277,700) Net movementin funds 217,486 (277,700) (60,214) (30,849) RECONCILIATION OF FUNDS Total funds brought forward 305,933 1,125,800 1,431,733 1,462,582 TOTAL FUNDS CARRIED FORWARD 523,419 848,100 1,371,519 1,431.733 The notes form part of these financial statements
MONKSTOWN COMMUNITY FORUM Balance Sheet 30 SEPTEMBER 2023 30/9/23 30/9/22 Notes FIXED ASSETS Tangible assets 991,502 1,023,853 CURRENT ASSETS Debtors Cash at bank 22,257 376,585 9,151 420,934 398,842 430,085 CREDITORS Arnounts falling due within one year (18,825] (22,205) NET CURRENT ASSETS 380,017 407,880 TOTAL ASSETS LESS CURRENT LIABILITIES 1,371,519 1.431,733 NET ASSETS 1,371,519 1,431,733 FUNDS Unrestricted funds Resti'icted funds io 523.419 848,100 305,933 1,125,800 TOTAL FUNDS 1,371,519 1,431,733 These financial statenients have been prepared in accordance with the provisions applicable to charitable compaiiies subject to the small companies regime. financial statements were approved by the Board of Trustees and authorised for issue on . and were signed on its behalf by.. Mr John Gault Mc Conaghie - Trustee The notes form part ofthese financial statements io
MONKSTOWN COMMUNITY FORUM Notes to the Financial Statements FOR THE YEAR ENDED 30 SEPTEMBER 2023 ACCOUNTING POLICIES Basis of preparingthe financial statements The financial statements of the cliaritable company, which is a public benefit entity under FRS 102, have been prepared in accordance with tlie Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Pi'actice applicable to charities prepai'ing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I January 2019),, Financial Reporting Stsndard 102 'The Financial Reporting Staiidard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Actlvkties once the charity has entitIement to the funds, it is probable that the income will be i-eceived and the amount can be measured i-eliably. Expenditure Liabilities are recognised as expenditrre as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and h2s been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particulai. headings they have been allocated to activities on 2 basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property FiKtures and fittings 2% oncost 15010 on reducing balance Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting 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 Wlthin 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 below.. Contingency Fund - set aside in the event of (significant) loss of income Maintenance Fund- for tlie maintenance of the propertyand major renovations or refurbishmentwork Succession Fund - for transition of management/staff IT Fund- foi. the relacement/addition of MVC equipment/software Penston costs and other post-retirement benefits The charitable company operates a defined contribution pension scherne. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which tl)ey relate. li continued...
MONKSTOWN COMMUNITY FORUM Notes to the Financial Statements - continued FOR THEYEAR ENDED 30 SEPTEMBER 2023 INVESTMENT INCOME 3019123 30/9/22 Deposit account interest 8,306 1,495 NET INCOME/(EXPENDITURE) Net income/[expenditure) is stated after charging/{crediting): 3019/23 3019122 Auditors, remuneration Depreciation - owned assets 1,660 32,351 1,535 32,644 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remttneration or other benefits for the year ended 30 September 2023 nor for the year ended 30 Septeinber 2022. Trustees, expenses There were no trustees, expenses paid for the year ended 30 September 2023 nor for the year ended 30 Septeniber 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrirted Restricted fund funds Total funds INCOME AND ENDOWMENTS FROM Charitable activities Charitable activities 232,854 20,400 253,254 Investment income 1,495 1.495 Total 234,349 20,400 254,749 EXPENDITURE ON Charitable activities Charitable activities 265,198 20,400 285,598 NET INCOME/(EXPENDITURE) Transfers between funds (30,849) 10,700 [30,849] {10,700) Net movement in funds {20,149) (10,700) (30,849) RECONCILIATION OF FUNDS Total funds brouglit forward 326,082 1,136,500 1.462,582 TOTAL FUNDS CARRIED FORWARD 305,933 1,125,800 1,431,733 12 continued...
MONKSTOWN COMMUNITY FORUM Notes to the Financial Statements- continued FOR THE YEAR ENDED 30 SEPTEMBER 2023 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold propei'ty Totals COST At l October 2022 and 30 September 2023 1,534,509 40,400 1,574,909 DEPRECIATION At l October 2022 Cliarge for year 521,730 30,690 29,326 1,661 551,056 32.351 At 30 September 2023 552,420 30,987 583,407 NET BOOKVALUE At 30 September 2023 982,089 9,413 991,502 At 30 September 2022 1,012,779 11,074 1,023,853 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30/9123 3019/22 Trade debtoi's Other debtors C&W Service income due Prepayinents 13,370 3,760 2,746 2,381 2,538 665 3,815 2,133 22,257 9,151 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30/9123 30/9/22 Trade creditors VAT Deposits held Deferred income Accrued expenses 512 7,773 4,833 3,917 1,790 316 6,949 4.833 5,538 4,569 18,825 22,205 13 continued...
MONKSTOWN COMMUNITY FORUM Notes to the Financial Statements- continued FOR THE YEAR ENDED 30 SEPTEMBER 2023 ANALYSIS OF NET ASSETS BETWEEN FUNDS 3019123 Total funds 30/9122 Total funds Unresti'icted Restricted fund funds Fixed assets Current assets Current liabilities 143,402 398,842 {18,825) 848,100 991,502 398,842 (18,825) 1,023,853 430,085 [22,205) 523,419 848,100 1.371,519 1,431,733 io. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 1/10/22 At 3019/23 Unrestricted funds General nd 305,933 (60,214) 277,700 523,419 Restricted funds Capital Grant Fund Contingency Fund Maintenance Fund Management Succession Fund IT Fund 873,800 125,000 62,000 50,000 15,000 (25,700) (125,000) (62,000) (50,000) (15,000) 848,100 1,125.800 (277,700) 848,100 TOTAL FUNDS 1,431,733 (60.214) 1,371,519 Net movement in funds, included in the above are as follows-. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 265,073 (325,287) (60,214) Restrlcted funds Antrim & Newtownabbey Borough Council Grants 17,600 (17,600) TOTAL FUNDS 282,673 (342,887) (60,214) 14 continued...
MONKSTOWN COMMUNITY FORUM Notes to the Financial Statements- coiitinued FOR THE YEAR ENDED 30 SEPTEMBER 2023 io. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds Transfers between funds At 1/10/21 At 3019/22 Unrestricted funds Geiieral fund 326,082 (30,849) 10,700 305.933 Restricted funds Capital Grant Fund Contingency Fund Maintenance Fund Managementsuccession Fund IT Fund 899,500 125,000 62,000 50,000 (25,700) 873,800 125,000 62,000 50,000 15,000 15,000 1,136,500 (10,700] 1,125,800 TOTAL FUNDS 1.462,582 (30,849] 1,431,733 Comparative net movenient in funds, included in the above are as follows- Incoming resources Resources expended Movement in funds Unrestricted funds General fund 234,349 (265,198) {30,849) Restricted funds Antrim & Newtownabbey Borough Council Gi'ants 20,400 (20,400) TOTAL FUNDS 254,749 (285,598) (30,849) ii. RELATED PARTY DISCLOSURES Thi'ee Trustees of Monkstown Community Forum (Alan Tayloi., Cliff Lyons and Stephen Acheson) al'e also Ti-ustees of Monkstown Village Initiative. During tlie year MCF made contributions of £83,138 towards the cost of Youth Woi-kers, salaries, gardenei. and the Area at Risk progi'ain. Gina Baxter is also a member ofthe board of directors of Hollybank Pre-school. MCF made contributions of £5.000 during the yearto Hollybank Pre-school. Antrim & Newtownabbey Borough Council The Forum received £17,600 from Antrim & Newtownabbey Borough Council in relation to the Areas at Risk Programme. This programme is promoted by Monkstown Community Forum and the programme coiitent is delivered by Monkstown Village Initiatives. At the Balance Sheet date £17,600 had been paid over to Monkstown Village Initiatives. 15