MONKSTOWN COMMUNITY FORUM Statement of FinaneiAI Activities FOR THE YEAR ENDED 30TH SEPTEMBER 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Charitable activities Chxiitable activities 255,350 17.400 272,750 274,367 Investment income 12,857 12,857 8,306 Total 268,207 17,400 285,607 282,673 EXPENDITURE ON Raising ndS 187 187 Charitable activities Chaiitable activities 276,482 17,400 293,882 342,887 Total 276,669 17,400 294,069 342,887 NET INCOME/(EXPENDrruRE) (8,462) 2S,700 (8,462) (60,214) Transfers behveen funds 12 (25,700) Net movement in funds 17,238 (25,700) (8,462) (60,214) REC0Tr4CILIATION OF FUNDS Total fi]nds brought forward 523,419 848,100 1,371,519 1,431,733 TOTAL FUNDS CARRIED FORWARD 540,657 822,400 1,363,057 1,371,519 The notes form part of these financial statements
MONKSTOWN COMMUNITY FORUM Balance Sheet 30TH SEPTEMBER 2024 2024 2013 Notes FIXED ASSETS Tangible assets 959,400 991,502 CURRENT ASSETS Debtors Cash at bank 29238 395,801 22,257 376,585 425,039 398,842 CREDITORS Amounts falling due within one year io (21J82) (18.825) NET CURRENT ASSETS 403,657 380.017 TOTAL ASSETS LESS CURRENT LIABILITIES lJ63,057 1,371.519 NET ASSETS 1,363,057 1,371,519 FUNDS Uni'estricled funds Restricted funds 12 540,657 822,400 523,419 848,100 TOTAL FUNDS 1,363,057 1,371,519 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024. The members have not required the company to obtain an audit of its fiiiancial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) er)suring that the charitable company keeps accounting records Ihat comply with Sections 386 and 387 of ihe Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surpliis or deficit for each financial year in accordance with tlie reqiiirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charilable company. (b) These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small eompai)ies regime. The finan¢ial stalements were approved by ihe Board of Trustees and authorised for issue on loth February 2025 and were signed on its behalf by- 4aN /• John Gauli Mc Conaghie - Tnistee The notes form part of these financial statements
MONKSTOWN COMMUNITY FORUM Notes to the Financial Statements FOR THE YEAR ENDED 30TH SEPTEMBER 2024 ACCOUNTIIYG POLICIES Basis of prepai'ing the finaneiAI statements The financial statements of the charitable company, which is a public benefit eiitity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Pi'actice applicable to charities preparing their accoltiits in accordance with the Fiiiai)cial Reportiiig Staiidard applioable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Finaiicial Reporting Standard applicable in the UK and Republic of IIEland' and tlie Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the fund5, it is probable that the income will be received and the amouiit can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to tl)at expenditure, it is probable that a transfer of economic benefits will be required in settlement and tlie amount of the obligation can be measured reliably. Expenditure 15 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed as5et5 Depreciation is pi'ovided at tl)e following annual rates in order to write off each asset over ils estimated usefvl life. Freehold property Fixtures and fittings 20/0 on c05t 150/0 on reducing balftnce Taxation The charity is exempt from corporation tax 011 its ¢hai'itable aclivities. Fund aecounting Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Unrestricted ndS can be used in accordance with the charitable objectives at tlie discretion of the trustees. Designated fijnds are eamiarked fom]ally by Ihe organisation for a particular purpose. The nature and purpose of each nd is included below.. Contingency Fund - set aside in the event of (significant) loss of income Maintenance Fund - for the maintenance of the property and major renovations or refurbishment wod( Succession Fund- for ti'ansition of managemenvstaff IT Fund - for the replhcementladdition of MVC equipmentlsofNvare Pension eosts and other post-retirement benefits The ¢haritable company operates a defined contribution pension scheme. Contributions payable lo the charitable company's pension scheme are charged to the Statement of Financial Activilies in the period to which they relate. continued...
MONKSTOWN COMMUNITY FORUM Notes to the Financial Statements- continued FOR THE YEAR ENDED 30TH SEPTEMBER 2024 INVESTMENT INCOME 2024 2023 Deposit account interest 12,857 8,306 RAISING FUNDS RAising donations aiid legaeies 2024 2023 Support costs 187 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting): 2024 2023 Auditor5, remuneration Deprec&ation- owned assets 1,675 32,102 1,660 32,351 TRUSTEES, REMUNERATION AND BENKFITS There were no trustees, remuneralion or other benefils for the year ended 30th Seplember 2024 nor for the year ended 30th Seplember 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 30th September 2024 nor for the year ended 30th September 2023. STAFF COSTS The average monthly number of employees diirii)g the year was as follows: 2024 2023 Administrative No employees received emoluments in excess of £60,000. continued...
MONKSTOWN COMMUNITY FORUM Notes to the FinaneiAI StAtements- contiiiued FOR THE YEAR ENDED 30TH SEPTEMBER 2024 COMPARATIVES FOR THE StATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Resti'icted funds TotAI funds INCOME AND ENDOWMENTS FROM Charitable activities Charitable activities 256,767 17,600 274,367 Iiivestment inwme 8,306 8,306 Total 265,073 17,600 282,673 EXPENDITURE ON Charitable activities Charitable activities 325,287 17,600 342,887 NET INCOME/(EXPENDITURE) Transfers behveen funds (60,214) 277,700 (60,214) (277,700) Net movement in funds 217,486 (277,700) (60,214) RECONCILIATION OF FUIYDS Total funds bi'ollght fonvard 305,933 ,125.800 1,431,733 TOTAL FUNDS CARIUED FORWARD 523,419 848,100 1,371,519 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Totals COST At 1st October 2023 and 30th September 2024 1,534509 40,400 1,574,909 DEPRECIATION At I st October 2023 Charge for year 552,420 30,690 30,987 1,412 583,407 32,102 At 30th September 2024 583,110 32,399 615,509 NET BOOK VALUE At 30th September 2024 951J99 8,001 959,400 At 30th September 2023 982,089 9.413 991,502 10 continued...
MONKSTOWN COMMUIYITY FORUM Notes to the Financial Statements - continued FOR THE YEAR ENDED 30TH SEYfEMBER 2024 DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 Trade debtors Other deblors C&W Service income due Prepaymenls 15,598 4,913 6,539 2,188 13.370 3,760 2,746 2,381 29,238 22,257 io. CREDITORS: AMOUIYTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors 44 8,372 4,833 3,917 4216 512 7,773 4,833 3,917 1,790 VAT Deposits held Deferred income Accwed expenses 21,382 18,825 ii. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total funds 2023 Total fuiids Unrestricted fund Restricted funds Fixed assets Current assets Current liabilities 137,000 425,039 (21?82) 822,400 959,400 425,039 (21,382) 991,502 398,842 (18,825) 540,657 822,400 1,363,057 1.371,519 12. MOVEMEIYT IN FUNDS Net movement in funds TrAnsfers between funds At 1110123 At 3019124 Unrestricted funds Genernl fund Designated Funds 523,419 (8,462) (184,434) 210,134 330,523 210,134 523,419 (8,462) 25,700 540,657 Resti'icted funds Capital Grant Flind 848,100 (25,700) 822,400 TOTAL FUNDS 1,371,519 (8,462) 1,363,057 continued...
MONKSTOWN COMMUNITY FORUM Notes to the Finaneial Statements - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2024 12. MOVEMENT IIY FUNDS - continued Net movement in fuiids, ii)cluded in tlie above ar¢ as follows.. Incoming esources Resources expended Movement in funds Uni'estricted funds Geneial fund 268,207 (276,669) (8,462) Restrieted funds Antrim & Newtownabbey Borough Council Grants 17,400 (17,400) TOTAL FUNDS 28S,607 {294,069) (8,462) Comparatives for movement in fund5 Net movement in funds TrAnsfers betsveen funds At 1110122 At 3019123 Unrestiieted fun(Is General nd 305,933 {60,214) 277,700 523,419 Restricted funds Capital Gratit Fund Contingency Fund Maintenance Fund Management Succession Fund IT Fund 873,800 125,000 62,000 50,000 Is,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 Comparative net movement in funds, included in the above are as follows: Incoming resourees Resources expended Movement in funds Unrestricted funds General fund 265,073 (325,287) (60,214) Restricted funds Anlrim & Newtownabbey Borough Council Grants 17,600 (17,600) TOTAL FUNDS 282,673 (342,887) (60.214) 12 continued...
MONKSTONVN COMMUNITY FORUM Notes to the Financial Statements - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2024 12. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 monihs combined posltion is as follows.. Net movement in funds Transfers between funds At 1110122 At 3019124 Uiii'estrieted funds General fund Designated Funds 305,933 (68,676) 93,266 210,134 330,523 210,134 305,933 (68,676) 303,400 540,657 Restricted funds Capital Grant Fund Contingency Fund Maintenance Fund Management Succession Fund IT Fund 873,800 125,000 62,000 50,000 15,000 (51,400) (125,000) (62,000) (50,000) (15,000) 822,400 1,125,800 (303,400) 822,400 TOTAL FUNDS 1,431,733 {68,676) 1,363,057 A cuent year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrteted funds General fund 533,280 (601.956) (68.676) Resti'icted funds Antriin & Newtownabbey Borough Council Gi'ants 35,000 (35,000) TOTAL FUNDS 568,280 (636,956) (68,676) Transfers between funds The organisation has designated £210,134 of unrestricted funding to the following purposes: Contingency Fund £125,000, Maintenance Fund £34,453. Succession Fund £38,605, IT Fund £12,076. Details of the various ndS are explained in the accounting policies note on page 9. 13 continued..
IVIONKSTOWN COMMUNITY FORUM Notes to the Fin8ncial Statements - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2024 13. RELATED PARTY DISCLOSURES Three Trustees of Monkstown Community Forum (Alan Taylor, Cliff Lyons and Stephen Acheson) are also Trustees of Monkstown Village Initiative. During ihe year MCF made contributions of £87,118 towards the cost of Yollih Workers, salaries, gardener and the Area al Risk program. Gina Baxter is also a member of tlie board of directors of Hollybank Pre-school. MCF made contillbutions of £5,500 during the year to Hollybank Pre-school. Antrim & NewtownAbbey Borough Council The Forum received £17,400 from Antrim & Nemownabbey Borough Council in relation to the Areas at Risk Progi'amme. This programme is pioinoted by Monkstown Community Forum and the programme content is delivered by Monkstown Village Initiatives. At the Balance Sheet date £17,400 had been paid over to Monkstown Village Initiatives. 14