MONKSTOWN COIVIMUNITY FORUM Reportof the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report witli the financial st3tenients of the chartty for the year ended 30 September 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing theii. accounts in accordance witli the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective I lanuaiy 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Governing docun)ent The charity is conh'olled by its governing document a deed of trusL and con5titute5 a limited company, limited by guarantee, as defined by the Companies Act 2006. The organisation is a charitable company limited by guarantee, incorporated on 29 June 1995 and registered as a charity in O¢tobei' 1995. The company was established undei. a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Ai'ticles of Association. In the event of the charity beingwound up, members are required to contribute an amount not exceeding £1. Recruitment and appointment of Trustees Unless otherwise determined by the charity in general meeting, tlie number of Trustees shall not be more than 10 or less than 3. One Trustee elects to retire from office each year at the Annual Geiieral Meeting. The Trustee to retire sliall be the person who has been longest in office since his/her last election, but as between persons who became Trustees on tlie same day the person to retire shall be determined by lot No person otl)er than a Ti'ustee retiring by i-otation shall be appointed or reappointed a Trustee at any general meeting unless: he/she is recommended by the Trustee not less than 14 nor Inore than 35 clear days before tlie date appointed for the meeting, notice executed by a member qualified to vote at the meeting has been given to the cliai-ity of the intention to propose that person for appointment or reappointment together with notice executed by that person of his/hei' willingness to be appoiiited or i'eappointed. Subject to Article 35, the Trustees have the power atanytime to appointany pei-son to be a Trustee, eitherto fill a casual vacancy or as an addition to the existing Trustees, Any Trustee so appointed sh211 hold office only until the next Annual General Meeting and shall then be eligible for re-election, but shall not be tsken into account in determining the Trustee wlio is to retire by rotation at such meeting. All Triistees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in tlie notes of the accounts. Ti'ustee induction and training MostTrustees are already familiarwith the work of the charity and the community. Any newTrustees are advised ofthe obligations of Trustees, the Memorandum 2nd Ai-ticles of the charity, resourcing and the current financial position as set out in the latest published accounts, and any future pla115 and objectives. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number N1029711 (Northern Ireland) Registered Charity number 102033
MONKSTOWN COMMUNITY FORUM Report of the Trustees FOR THE YEAR ENDED 30 SEPTEIVIBER 2023 Registered office 18 Monkstown Village Centre Monkstown Road Newtownabbey Co. Antrim BT37 OHS Trustees Mr Stephen lames Acheson Mrs Gina Marion Baxtei. Mr Brian Hunter Mr Clifford William Lyons Mr lohn Gault Mc Conaghie MrAlan RobertTaylor Company Secretary Mr Alan David lohnston Auditors M.B.McGrady& Co Chartered Accountants Statutory Auditoi's Suite 2B Cadogan House 322 Lisburn Road Belfast Co. AT]trim BT9 6GH
MONKSTOWN COMMUNITY FORUM Repoi't of the Trustees FOR THEYEAR ENDED 30 SEPTEMBER 2023 RISK MANAGEMENT The major risks to which the charity is exposed, as identified by the Trustees, liave been reviewed. Organisational structure Tlie charity has a Board of 6 Trustees who meet regularly and 2re responsible for the strategic direction and policy of the charity. All major decisions are undertaken by tlie Board, while day to day responsibility for tlie provision of services rests with the Company Secretary. The Company Secretary is responsible for ensuring that the charity delivers the services specified and that key perfoi-mance indicators are meL Objectives and activities Our charity's purposes, as set out in the objects contained in the charity's Memorandurn, are to promote the public benefit of urban regeneration in the Monkstown area and its environs. The aims of oui. chai'ity al-e to develop and maintain a multi-purpose facility which will be 2 focal point for residents and will aim to provide sustainable opportunities, facilities and services to groups and individuals in the Monkstown area. Our aims fully reflect the purposes that the charity was set up to further. We review our aims, objectives and activities each yeai-. This review looks at what we achieved and the outcomes of our work Tn the previous 12 months and helps us eiisure our aims, objectives and activities remain focused on oui. stated pui-poses. Our main objectives for the yeai- continued to be job creation, provision of training and the development OF entrepreneurial activity. The strategies we used to meet these objectives included.. providing and maintsining a multi-purpose facility in the community: and providing funds generated from the above to local organisations to help thetn with urban regeneration. The Trustees confLrm that they have referred to the Charity Commission's guidance on public benefit when reviewing the companies aims and objectives. Principal activities Our main activity this year involved the provision and maintenance of a multi-purpose facility which provides a variety of services and resources to the COTnmunity. This in turn generated funds which we were able to donate to local organisations ifthe opportunity or need arose. Achievements and performance As a project promoter of the Areas at Risk programme, Monkstown Community Forum made contributions totslling £17,600 (See Note I I to the Financial Statements) to Monkstown Village Initiatives for the delivery of.. youth work, cognitive behavioural tlierapy and gardening programmes for the benefit of the Monkstown Community. This was funded by Antrim & Newtownabbey Borough Council and the Department of Communities. These programmes have botli prevention and intervention at their core. They have enabled trained staff to engage at a significant level with various local "at risk" and "vulnerable" Eroups and individuals. Financial review Against the backdrop of the current economic climate, the charity incurred net outgoing resources of £60,214 (2022.. net outgoing resoui-ces of £30,849J. An amount of £25,700 was ti'ansferred from the capital 'allt reserve to the geiieral reserve which is in line with the depreciation rate used for Land and Buildings. Prinapal funding sources The main income generated by the charity is from rental and service cl)arge income arising from the letting of units at the multi-purpose facility. In addition, a totsl of £1,285,000 was received and held in capital grant reserves from Newtownabbey Loc21 Strategy Partnership, International Fund for Ireland, Groulldwork Nl and Antrim & Newtownabbey Borough Council for the purposes of the charity. This fund is reduced over the useful economic life of Land and Buildings in line with depreciation.
MONKSTOWN COMMUNITY FORUM Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2023 Reserves policy The Trustees liave examined the charity's requirements For reserves in light of the main risks to the orgaiiisation. It has established a policy whereby tlie unrestricted funds not committed to planned maintenance or purchase of fixed assets should be between 3 and 6 months of expenditure. Budgeted expenditure for 2023/24 is £210,121 while closing general reserves as at 30 Septembei. 2023 are £523,419. These reserves are required to meet the working capital requirements of the cliarity and the Trustees are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in fulldiiig or tenaiits. Plans for futui'e periods The charity plans to continue the activities outlined above in the fortlicoming years. The Trustees will continue to review and asse55 any opportunities that may arise which will further the charity's purpose of promoting tlie pub5ic benefit of urban regeneration in Monkstown. STATEMENT OF TRUSTEES, RESPONSIBILITIES The h'ustees (who al'e also the directors of Monkstown Community Foruin for the purposes ofcompany law) are responsible foi. pi'eparing the Report of the Trustees 2nd the financial ststements in accordaiice with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair vtew of the state of affairs of the charitable coinpany and of the incoming resources and application of resources, including the income and expenditure, of the charitsble conipany for that period. lii preparing those financial statements, the trustees are requii-ed to select suitable accounting policies and then apply tliem consistently,. observe the methods and principles in the Cliarity SORP; make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going concern basis unles5 it is inappropriate to presume that the chai'itable company will continue in business. The trustees are responsible 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 finaiicial statements comply with the Companies Act 2006. They are also responsible for safeguardTiig the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so frdr as the trustees are aware: thei'e is no relevant audit information of which the charitable company's auditors are unaware; 2nd the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. AUDITORS The auditors, M.B.McGI'ady & Co, will be proposed for re-appointment at the forthcoming Annu31 General Meeting. Approved by order of the board of trustees on.. and signed on its behalf by.. 4otrt • Mr Johii Gault Mc Conaghie- Trustee