MONKSTOWN COMIVIUNITY FORUM Report of the Trustees FOR THE YEAR ENDED 30TH SEPTEMBER 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with Ihe financial statements of the charity foi. the year ended 30th September 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. 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 (FRS 102) (effective l January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Govei'ning document The charity is controlled by its governing document, a deed of trust, and constitutes a limited ¢ompany, 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 Rs a charity in October 1995. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Article5 of Association. In the event of the charity being wound up, members are required to contribute an amount not exceeding £1. Recruitment and Appointment of Trustees Unless otherwise detem)ined by the charity in general meeting, the number of Trustees shall not be more than 10 oi. less than 3. One Trustee elects to retire from office each year at the Annual General Meeling. The Trustee to retire shall be the person who has been longest in o£fice since his/her last election, but as between persons who became Trustees on the same day the person to retire shall be detennined by lot. No person other than a Trustee retiring by rotation shall be appointed or reappointed a Trustee at any general meeting unless: - he/she is recommended by the Trustee not less than 14 nor more than 35 clear days before the date appointed for the meeting, notice executed by a member qualified to vote at the meeting has been given lo the charity of the intention to prop08e that person for appointment or reappointment together with notice executed by that person of histher willingness to be appointed or reappointed. Subject to Article 35, the Trustees have the power at any time to appoint any person to be a Trustee, either to fill a casual vacancy or as an addition to the existing Trustees. Any Trustee so appointed shall hold office only until the next Annual General Meeting and shall then be eligible for re-election. but Shall not be taken into account in detennining the Trustee who is to retire by rotation at such meeting. All Trustees give their time voluntarily and receive no benefits fiY)m the Charity. Any expenses reclaimed from the charity are set out in the notes of the a¢counls. Trustee induction and trAining Most Trustees are already familiar with the work of the charity and the community. Any new Trustees are advised of the obligations of Trustees, the Memorandum and Articles of the charity, resourcing, and the current financial position as set out in the latest published accounts. and any future plans and objectives. REFERENCE AND ADMINISTRATIVE DETAIL Registered Company number M029711 (Northem Ireland) Registered Charity number 102033 Registered office 18 Monkslown Village Centre Monkstown Road Newtownabbey Co. Antrim BT37 OHS MONKSTOWN COMMUNITY FORUM Report of the Trustees FOR THE YEAR ENDED 30TH SEPTEMBER 2024 Trustees Mr Stephen Jaine5 Acheson Mrs Gina Marion Baxter Mr Bi'ian Hunter Mrclifford William Lyons Mr John Gault Mc Conagliie Mr Peter Thomas Morrow (appointed 111312024) Mr Alaii Robert Taylor Company Secretary Mr Alan David Johnston Independent ExAminer M.B.McGrady & Co Chartered Accountants Suite 2B Cadogan House 322 Lisbum Road Belfast Co. Antrim BT9 6GH MONKSTOWN COMMUNITY FORUM Report of the Ti'ustee5 FOR THE YEAR ENDED 30TH SEPTEMBER 2024 RISK MANAGEMENT The major risks to which the chai'ity is exposed, as idei)tified by the TNslees. have been reviewed. Organisational structure The charity has a Board of 7 Trustees wlio meet regularly and are responsible foi. the strategic direction ar)d policy of the charity. All major decisions are iindertaken by the Board, while day to day responsibility foi. the provision of 5eivic¢s resls with the Company Secretary. The Company Secretary is responsible for ensuring that ihe chai'ity delivers the services specified and that key performance indi¢atoi% are mel. Objectives And activities Our charity's pu￿Oses. as Set out in the objects contained in ihe charity's Meinorandum, are lo promote ihe public benefit of urban i'egeneration in Ihe Monkstown area and its environs. Tlie aims of our charity Rre to develop and maintain a multi-purpose facility which will be a 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 tlie charity was set up to further. We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months and helps us ensure our aims, objectives and activities remain focused on our stated purposes. Our main objectives for the year continued to be job creation, provision of training and the development of entrepreneurial activity. The sb'ategies we used to meet these objectives included.. providing and maintaining a multi-purpose facility in the eoinmLinity' and pIDviding thnds generated from the above to local orgaiiisations to help them with urban regengration. The Trustees wnfim that they have referred to ihe Charity Coinmission's guidance on public benefil when reviewing the companies aims and objectives. Priiicipal activities Our main activity this year involved ihe provision and maintenance of a multi-purpose facility which provides a variety of services and resoui'ces to the community. This in turn generated funds which we were able to donate to local organisations if the oppoitunity or need arose. Achievements and perfoJ'JnAnce As a project promoter of the Areas at Risk pro￿.aMMe, Monkstown Community Forum inade contributions totalling £17,400 (2023.. £17,600) see Note 12 10 the Financial Statements) to Monkstown Village Initiatives for the delivery of- youth work, cognitive behavioural therapy and gardening programmes foi. the benefit of the Monkslown community. This was funded by Ants'im & Newtownabbey Borough Coiincil and the Depaitment of Communities. These piogrdmmes have both prevention and intervention at their core. They have enabled irained staff to engage at a significant level with various local "at risk" and "vulnei'able" groups and individuals. Finxneial revieiv Against the backdrop of the current economic climate, the charity incurred net outgoing resources of £4,546 (2023- nel outgoing resources of £60,214. An amouiit of £25,700 was transfeiTed from the capital grant reserve to the general reserve which is in line with the depreciation rate used for Land and Buildings. Printipal funding sources The main income genei'ated by the charity is from renlal and service charge income arising from the letting of units at ihe mulii-purpose facility. In addition, a total of £1,285,000 was received and held in capitRI grant reserves from N¢wtownabbey Local Strategy Partnership, International Fund for Ireland, Groundwork NI and Antrim Newtownabbey Borough Council foi. the purposes of the charity. Tliis fund is reduced over the useful e￿noMiC life of Land and Buildings in line with depreciation. MONKSTOWN COMMUNITY FORUM Repoit of the Trustees FOR THE YEAR EINDED 30TH SEPTEMBER 2024 Reserves policy Tl)e Trustee5 have examined the charity's requirements for reserves in light of ihe main I'isks to the organisatioii. It has established a policy whereby the unrestricted fiinds not eoinmitted to planned maintenance oi. purchase of fixed assets should be between 3 and 6 months of expenditure. Budgeted expenditure for 2024125 is £230,716 while closing geiiei'al reseives as at 30 Septeinber 2024 are £544,573. Tllese reserves al'e required to meet the woA