COMPANY REGISTRATION NUMBER: N1031146 CHARITY REGISTRATION NUMBER: 102099 Eastside Partnership Company Limited by Guarantee Financial Statements 31 March 2023 Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN
Eastside Partnership Company Limited by Guarantee Financial Statements Year ended 31 March 2023 Page Trustees, annual report (incorporating the director's report) Independent auditorfs report to the members 12 Statement of financial activities (including income and expenditure account) 18 Statement of financial position 19 Statement of cash flows 20 Notes to the financial statements 21 The following pages do not form part of the financial statements Detailed statement of financial activities 38 Notes to the detailed statement of financial activities 49
Eastside Partnership Company Limlted by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2023 The trustees. who are also the directors for the purposes of company law, present their report and the rinancial statements of the charity for the year ended 31 March 2023.
Eastside Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (con1inu) Year ended 31 March 2023 Reference and admlnlstratlve detalls Registered charlty name Eastside Partnership Charity registration number 102099 Company registration number N1031146 Prlnclpal office and registered Avalon House office 278-280 Newtownards Road Belfast BT4 1HE The trustees M Briggs S Douglas D Gavaghan M Gibson T Haire B Mcconnell J McAlpin A Mcmurray W Clark R Davison G Dorrian A Hassard A Irvine K Purdy G Robinson S Jackson A Flynn M Kelly R Mcmullan D Alderdi P McReynold5 F Bell (Resigned 1 September 2023) (Resigned 1 Saptemb8r 2023) (Resigned 9 June 2023) (Resigned 1 September 2023) (Resigned 1 September 2023) (Resigned 1 September 2023) (Resigned 1 September 2023) (Resigned 9 June 2023) (Resigned 1 September 2023) (Resigned g June 2023) (Resigned 9 June 2023) (Resigned g June 2023) (Resigned 10 June 2022) (Resigned 28 July 2022) (Appointed 10 June 2022) Company secretary Tony Wilson Auditor Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower g James Street South Belfast BT2 8DN Bankers AIB 11-15 Donegall Square North Belfast BT15GB
Eastside Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) f¢ontinU) Year ended 31 March 2023 Sollcltors Hewitt and Gilpin Thomas House 14-16 James Street South Belfast BT2 7GA structure, governance and management Goveming Document Eastside Partnership is a Company Limited by Guarantee and is a Charity recognised by the Charity Commission for Nl and HM Revenue and Customs. It is a not for profit organisation. The Company was established under a Memorandum of Association which established the objects and powers of the company and is govern8d under its Articles of Association. Appointment of trustees Trusteeship follows from membership of the Charity. which is made up as follows: Community representatives 4 nominations from the community sector in the East Betfast area, and the Director of East Belfast Communty Development Agency; Political representatives - 3 elected representatives from Belfast City Council and one elected representative of Lisburn & Castlereagh City Council; the sitting Member of Parliament for East Belfast: the Chairpersons of each subsidiary and working groups of the Charity. Other representstives - up to 4 nominations. Trustee Inductlon and tralnlng A trustee induction process is in operation. Arrangements ft)r setting pay and remuneration of key management personnel The directors consider the board of directors, who are the charity's trustees. and the senior management team comprise the key management personnel of Ihe charity in charge of directing and controlling. running and operating the ¢harty on a day to day basis. All directors give of their time freely and no director received remuneration in the year. Details of dirèctors, 8xpenses and related party transaGlion5 are disclosed in note 14 to the a¢wunts. The pay of the senior staff is set by reference to NICVA guidance and utilisation of NJC pay scales. In view of the nature of the charity. the directors benchmark against pay levels in other similar size charities when appointing new members of key manag8ment. Organisation structure and how charlty makes declslons Eastside Partnership Is govemed by a Board of Directors. The charity is managed on a day to day basi5 by a Chief Executive. who is at the head of a management team as appointed by the Board of Directors. The Chief Executive, with the assistance of a management team manages the day to day activities of the Partnership, and reports directly to the Chairperson. The Chief Executive and management team also provide progress reports to all board meetings.
Eastside Partnership Company Llmlted by Guarantee Trustees. Annual Report {Incorporating the Director's Report) (eonllnu8d) Year ended 31 March 2023 Structure. governance and management feontlftu•d) Audlt and Rlsk Committee The ARC was set up in 2017 by the ESP Board in order to support them in their responsibilities regarding issues of risk. control. governance and associated assurance. The ARC has delegated responsibility on behalf of the board for ensuring that there is a framework for accountability,. for examining and reviewing all systems and methods of control both financial and otherwise including risk analysis and risk management-, and for ensuring the charity is complying with all aspects of the law, relevant regulations and good practice. The ARC membership consists of no fewer than 3 directors appointed by the ESP board. at least 2 of whom will be from the parent board. and including the board chair. along with one external member to the committee who will be independent of th8 charity and who will bring relevant skills and expartise to it. Pmject committees/boards For each of the key delivery projects. specific objectives are set by the board I committee for each project, and ported against on a quarterly basis to the partnership board. A strategic business plan for each project I subsidiary company is also presented to the board. Neighbourhood Partnerships Th8 Partnership previously established neighbourhood partnerships: Inner East Neighbourhood Partnership and Tullycamet Neighbourhood Partnership. The Neighbourhood Partnerships are in the form of 'coalitions of interesf, with a memorandum of understanding beeen the Partnership and the two Neighbourhood Partnerships. This memorandum forms the basis of the relationship, support and facilitation provid8d by the Partnership. Subsidiary Companies The Partnership have 5 wholly-owned subsidiary companies as follows: Ave¢ Solutions Limited a trading company providing web design and hosting services to the voluntary, community and private sectors. Eastside Propety - a charitable propety development company which acquires and brings back into use unused and derelict properties and seeks to make that accommodation availab18 for organisations. individuals and companies making a positive contribution to the community. Ea5tSide Greenways - a charitable Gompany which was established to promote and support the use. enjoyment and sustainability of the Connswater Community Greenway. Eastside Arts a company which seeks to proTnote the development of Arts activities in East Betfast. Eastside Tourism a company which seeks to advance the education of the public regardlng east Belfast's artistic. industrial, political and social heritage. Relationships with relatedparties None of our trustees receive remuneration or other benefit from their work with the charity.
Eastside Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (eontlnuad) Year ended 31 March 2023 Structure. governance and management (eonllnu•d) Rlsk management The company aims to mitigate the major risks it faces by implementation of the following proGedures'.- Significant external risks to funding have led to the development of a strategic plan which clearly identifies funding requirements going forward. Internal control risks are minimised by the implementstion of procedures for authorisation of all tpnsactions with a financial implication. Maintenance of a company risk register. which is reviewed at meetings of the Audit and Risk Committee.
Eastside Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (eorttsnu8d) Year ended 31 March 2023 Objectives and actlvltles Purposes The purpose of Eastside Partnership. as expressed in its objects is to: (1) Promote urban regeneration, community development and the redevelopment and revitalisation of East Belfast and its environs (the "area of benefif) by all or any of the following means: design, promote, implement and evaluate strategies concerned with improving the economic, social. cultural and environmental life of the inhabitants of the area of benefit-, promote study and research, and develop and influence policy and practi, in the fields of urban regeneration and community development. engage with, promote co-operation among. and eslablish strategic partnerships between groups, organisations and agencies in the voluntary and community. statutory and private enterprise sectors: provide a forum for the discussion and debate of urban regeneration, community development and related issues and raise public awareness of these matters., provide strategic and practical support to community and voluntsry groups in the area of b8nefit' such other charitable means as may from time to time be determined. (2) Advance the arts. including promoting and organising performances and events which improve public access to andlor participation in the arts. (31 Advance education for the public benefit by assisting and supporting schools and parents and facilitating the formation of partnerships to improve educational attainment in areas of social and economic deprivation. (4) Promote for the public benefit good community relations, religious and racial harmony, social cohesion and equality and diversity. Public Benefit The public benefits that flow from purpose {1) are: a reduction in social inequalities an increase in the range of facilities and services available to the public. improvement in the quality of seNices delivered to the public and in the efficiency and effectivene55 of agencies delivering 5ervi¢es to the public as a consequence of enhanced knowledge and understanding of the problems, obstacles and potential solutions: heightened motivation. improved inter-agency co-operation. co-ordination and partnership working- and stronger inter-action between these agencies and the community., improved physical appearance of the built environment. resulting in a raising of peop18's sense of quality of lrfe. well-being and aesthetic appreciation of their surroundings., enhanGed opportunities for employment and training for residents living in economically and socially deprtved areas and consequently a reduction in poverty, unemployment and hardship. The public benefits that flow from purpos8 (2) are: a broadening of understanding and awareness of arts and culture: increased opportunities for the public to access the arts as a result of an extending range of arts activities and events taking place," enhanced quality of life and sense of well-being through engaggment with and participation in creative artistic events and activities: renewed enthusiasm for and belief in the arts as a means of expression and fulfillment.
Eastside Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontsnu•d) Year ended 31 March 2023 The public benefit that will flow from purpose (3) is: an improvement in educational attainment. capabilities and capacities and potential to secure employment by pupils living in areas of social and economic deprivation The public benefit that flows from purpose (4) is: a gradual transition to a safer, rnore stable and cohesive community and positive citizenship as a result of raised awareness and understsnding, a shared sense of purpose and the creation of safe. neutral environments.
Eastside Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontinu¢d) Year ended 31 March 2023 Achievements and performance Report on actlvlty 2022-23 Eastside Partnership, for reasons of effectiveness and good governance, deliver much of their activity through wholly owned subsidiary companies. each of which will report separately. However. reference will also be made in this report as core partnership stsff are also involved in supporting and coordinating the actlvities of all companles withln the group. The main benefits of our activities during the year were: a) provision of a range of facilities and services available to the public; These are provided through our subsidiary company, Eastside Propety, and separately reported there. Examples of services provided diredly by the partnership through these facilities would include the provision of education through the Carew Centre and of heritage educational services through Eastside Visitor Centre with progrèss towards managing the heritage hub at T8mpl8more Baths. b) improvement in the quality of services delivered to the public and in the efficiency and effectiveness of agencies delivering seNices lo the public as a consequence of enhanced knowledge and understanding of the problems. obstacles and potential solutions; heightened motivation- improved inter-agency co-operation, co-ordination and parlnership working- and stronger inter-action beeen these agencies and the community" We have continued to work with key statutory, community and private sector interests to improve service quality, including for example in partnering with schools to deliver community based education initiatives through an agreed Education Framework, a more coordinated approach to the development of the Newtownards Rd, supporting the Inner East Neighbourhood RenevRI Partnership and Tullycarnet Neighbourhood Partnership and through working with The Executive Office's Urban Village initiative. c) improved physical appearance of the built environment, resulting in a raising of people's sense of quality of lrfe. well-being and aesthetic appreGiation of their surroundings. We continu8 to work with Belfast City Council to 8nsur8 C.S. Lewis Square and the Connswater Community Greenway is maintained as a high quality facility for local residents. which has enhanced the physical appearan of this part of inner East Belfast, with heavy use by local residents and V15itors alike and an increase in physical activity. We continue to lobby for further greenway development in east Belfast through the Eastside Greenways strategy to contribute to the ongoing physlcal regeneration of of the area. d) a broadening of understsnding and awareness of arts and culture., Through widespread engagement with local residents. businesses and elected representatives, alongside our social media promotional activity, many more people have come to appreciate, and engage In. arts activity in the east of the city. We deliver all round arts and cultural activity at indoor and outdoor venues across east Belfast with a particular focus on C.S. Lewis Square as an important public space for cultural regeneration activity. The space hosts a variety of events for the local community and visitors alike which ranges from monthly markets, fitness sessions, family fijn days and live music such as 4 nights of music as part of the Ea5tSide Arts Festival and 2 nights of music in July, both showcasing a thriving and talented
Eastside Partnership Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (conllnu8d) Year ended 31 March 2023 artistic community. e) increased opportunities for the public to access the arts as a result of an extended range of arts activities and events tsking place., We continue to deliver an all year round community arts programme with a focus on local venues and opportunities whiGh meets the needs of local people and in areas of social disadvantage and increasing public access to the arts for social impact and well-being. This included the weekly Eastside Arts Choir and the Big Kids Society which provides public creative workshops in a variety of different art forms. A lot of time was spent on programme and preparation work with the Gertrude Star Flute band in the lead up to the Fifes and Fusion performance at the July event at C.S. Lewis Square. We delivered the Eastside Arts Festival and C.S. Lewis Festival with programming to celebrat8 people and place in the area, engaging local people to participate in the arts. The Greenway project continues to deliver an all year round animation programme which includes cultural activty as a driver of visits and use of the space to promote health and well being and Civic pride. fj renewed enthusiasm for and belief in the arts as a means of expression and fulfilment; With the audience growing, and numbers of volunteers increasing. for the wide range of arts activities delivered this year, this has been a clear indication of the increased commitment and enthusiasm which we have experienced. Example5 of this include our project with the Gertrude Star Flute Band which recognised the musicalty and talent in the band as an impactful and participative art form. g) an improvement in educational attainment. capabilities and capacities and potential to secure employment by pupils living in areas of social and economic deprivation. We continue to utilise funding from the Dept of Justice via the Dept of Education to continue the Eastside Learning project with a variety of programmes to raise aspirations. improve educational attainment and develop community and statutory relationships for the benefit of children and families. Examples of this include the Eastside Earfy Years Neork, Forest Schoo15 Programme and ABC after school project. h) a gradual transition to a safer, more stable and Cohesive community and positive citizenship as a result of raised awareness and understanding, a shared sense of purpose and the creation of safe, neutral environments; The partnership has continued to engage in city wide initiatives, particularly wtth the arts, tourism and regeneration initiatives between east and west Belfast, which has helped increase understanding and a sense of shared purpose as we cooperate on programme delivery. C.S. Lewis Square l Eastside Visitor Centre ha5 also opened up an entirely new 'shared space, with diverse programming to meet the needs of many people from many differant backgrounds and traditions. right in the heart of the community and plans have now been developed to extend the centre.
Eastside Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2023 Financlal revlew The results for the year are set out in detail on pages 18 to 37. The company returned net incomel(expenditure) for the year of £30.324 (2022: (£42,006)). At 31 March 2023. the total funds of the charity amounted to £389,070 (2022: £358,746), comprising $triCted funds of £251,207 (2022: £224,318) and unrestricted funds of £137,863 (2022: £134,428). The unrestricted funds are considered to be essential to provide sufficient funds to cover any unforeseen costs which may arise and fulfill the legal obligations of the charity in the event that currant levels of income are not maintained. Investment powers and policy Aside from retaining a prudent amount in reserves each year most of the Gharity's funds are to be spent in the short term so there are few funds for long term investment. The directors. having regard to the liquidity r8quirements of the organisation and to the reserves policy have operated a policy of keeping available funds in an interest bearing deposit account. ReseThes policy and going concem A policy has been implemented by the company in order to recognise the Gharity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not Committed should equate to beeen 25 % and 50% of annual administration overheads. The aim is to provide sufficient funds to cover any unforeseen costs which may arise. as well as allowing for the payment of any liabilities which would arise should the company caase to operate. Plans for future periods The charity plans continuing the activilies outlined above in forthcoming years, subject to satisfactory funding arrangements. The key themes outlined in the Eastside Partnership strategic plan will be the areas where resources are focused in the forlhcoming year. Trustees. responsibilities statement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted A¢counting PractiC8). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. 10
Eastside Partnership Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2023 In preparing these financial statements, the trustees are required to= select suitable accounting policies and then apply them consistently.. observe the rnethods and principles in the applicable Charities SORP,. make judgments and accounting estimates that are reasonable and prudenl-, prepare the financial staternents on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain Ihe charity's transactions and disclose with reasonable accuracy al any lime Ihe financial Posttion of the charrty and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the asset5 of the charity and hence for taking reasonable steps for the prevention and dete¢tion of fraud and other irregularities. Audltor Each of the persons who is a Iru5tee at the date of approval of this port confirms that.. so far as they are aware. there is no relevant audit infomiation of which the charity's auditor is unaware; and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charty's auditor is aware of that information. Small company provislons This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The twstees. annual report was approved on 1 December 2023 and signed on behalf of the board of trustees by.. Tony Wilson Char(ty Secretary 11
Eastside Partnership Company Limlted by Guarantee Independent Auditor's Report to the Members of Eastside Partnership Year ended 31 March 2023 Oplnlon Wa have audited the financial statements of Eastside Partnership (the 'charity') for the year ended 31 March 2023 which comprise the statement of financial activities (including in¢ome and expenditure account), statement of financial position, statement of cash flows and the ralated notes. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: gtve a true and fair view of the state of the charity's affairs as at 31 Mah 2023 and of its incoming resou$ and application of resources, including its income and expenditure. for the year then ended,. have been properly pr8par8d in accordance with United Kingdom Generally Accepted Accounting Practice., have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Stsndards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial ststements in the UK, including the FRC'S Ethical Standard, and the provisions available for small 8ntilies, in the circumstances set out below. and we have fUilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. APB Ethical Standard - Provisions available for small entities In Common with many other organisations of a similar size and nature, the Charity uses its auditors to prepare and submit return5 to the tax authorities and assist with th8 preparation of their organisation's financial statements. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going conrn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to 8vents or conditions that. individually or collectively, may cast signfficant doubt on the charity'5 ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 12
Eastside Partnership Company Limited by Guarantee Independent Auditor's Report to the Members of Eastside Partnership (contlnu8d) Year ended 31 March 2023 Other inforniatlon The other information comprises the information included In the annual report, other than the financial statements and our auditor's report Ihereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover thè other information and, except to the extent otherwise explicitly stated in our report. we do not express any fonn of assurance conclusion thereon. In Connection with our audit of the financial statements, our responslbility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material misstatement in the financial statements or material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in thls regard. Opinlons on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements: and the trust&es' r8POrt has been prepared in accordan with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misststements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you rf, in our opinion= adequate accounting records have not been kept, or returns adequate for our audit hav8 not been received from branches not visited by us. or the financial ststemenls ar8 not in agreement with the accounting records and returns: or certain disclosures of trustees. remuneration specified by law are not made: or we have not received all the infomiation and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantsge of the small companies. exemptions in preparing the directors, report and from the requirement to prepare a strategic report. 13
Eastside Partnership Company Limited by Guarantee Independent Auditorfs Report to the Members of Eastside Partnership {contlnu8d) Year ended 31 March 2023 Responslbllltles of Irustees As explained more fully in the trustees, responsibilities statement, the trustees (who are also the d1ctOrS for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such intemal control as the trustees determine is necessary to enable the preparation of financlal ststements that are free from material misslatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to conlinue as a going concern, disclosing. as applicable. matters related to going concem and using the going concern basis of a¢counting unless Ihe trustees either intend to liquidate the charity or to cease operations. or have no realistic alternative but to do so. 14
Eastside Partnership Company Limited by Guarantee Independent Auditor's Report to the Members of Eastside Partnership {contlnued) Year ended 31 March 2023 Auditorfs responsibilities for the audit of the financial ststements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole ara free from material misstatement, wheth8r due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance wilh ISAS {UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influenc8 the economic decisions of users taken on the basis of th&se financial statements. Irregularities, including fraud, are InStanS of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below: In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations. we considered the following: the nature of the industry and sector, control environment and business performance including the design of the remuneration policies, key drivers for directors, remuneration, bonus levels and performance targets., results of our enquiries of management about their own identification and assessment of the risks of irregularities., any matters we identified having obtained and reviewed documentstion of their policies and procedures relating to.. identifying. evaluating and complying with laws and regulations and whether management were aware of any instances of non-compliance: detecting and responding to the risks of fraud and whether management have knowledge of any actual. suspected or alleged fraud: the intemal controls established to mitigate risks of fraud or non-complian with laws and regulations. the matters discussed among the audit engagement team including significant component audit teams and relevant intemal specialists. including tax and valuations specialists regarding how and where fraud might occur in the financial statements and any potential indiGators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and r8gulatory frameworks in operation. focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included ongoing compliance Wlth the UK Companies Act and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental for their ability to operate or to avoid a material penalty. 15
Eastside Partnership Company Limited by Guarantee Independent Auditor's Report to the Members of Eastside Partnership fcontinued) Year ended 31 March 2023 As part of an audit in accordance with ISAS (UK). we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial statements, vthether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may invofve collusion. forgery. intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of intemal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expr8ssing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained. whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charivs ability to continue as a going concem. If we conclude that a material uncertainty exists. we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concem. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures. and whether the financial statements represent the underlying transactions and 8vents in a manner that achi8ves fair presentation. 16
Eastside Partnership Company Limited by Guarantee Independent Auditor's Report to the Members of Eastside Partnership (continued) Year ended 31 March 2023 We communicate with those charged with governance regarding, among other matters. the planned sGope and liming of the audit and significant audit findings. including any significant deficiencies in intemal control that we identify during our audit. Use of our report This report is made solety to the charivs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies A¢t 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to stste to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the chariws members as a body, for our audit work. for this report. orfor the opinions we have formed. Paul Dolan (Senior Statutory Auditor) For and on behalf of Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN 1 Dec&mb8r 2023 17
Eastside Partnership Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2023 2023 Restricted funds Total funds Total fvnds 2022 Unrestricted funds Noto Income and endowments Donations and legacies Charitable activities other trading activities Investment income 5,414 2,193 592,920 44,344 7.607 592,920 54.332 106 5,779 687.896 8,357 9,988 106 Total income 15.508 639.457 654,965 702,032 Expenditure Expenditure on pislng funds: Costs of other trading activities Expenditure on charitable activities Total expenditure (12.073) (2.795) (14,868) (10,762) 1,456 {611,229) (609,773) 1733,276) (10,617) (614,024) (624,641) 1744,038) 10 Net Incomel(expendlture) 4.891 25,433 30,324 (42.006) Transfers behveen funds (1,456) 1,456 Net movement in funds 3,435 26.889 30.324 (42.006) Reconciliation of funds Total funds brought for4vard Total funds carrled forward 134.428 224,318 358.746 400.752 137,863 251,207 389.070 358,746 The statement of financial activities includes all galns and losses recognised in the year. Atl income and expenditure derive from continuing activities. The notes on pages 21 to 37 form part of these ftnanclal statements. 18
Eastside Partnership Company Limited by Guarantee Statement of Financlal Position 31 March 2023 2023 2022 Fixed assots Tangible fixed assets 15 532 11,074 Current assets Deblors Cash at bank and In hand 16 218.464 274,096 492.560 258,910 216,638 475,548 Credltors: aniounts falllng due within one year Net current assets 18 104.022 127,876 388,538 347,672 Total assets legs current liabilities 389,070 358,746 Net assets 389.070 358,746 Funds of Ihe charlty Restricted funds Unrestricted funds 251.207 137,863 224,318 134,428 Total charlty funds 20 389,070 358,746 Th8se financial ststements have been prepared in accordance with the provisions applicable to companies subject to the small COTnpanies' regime. These financial ststements were approved by the board of trustees and aulhorised for issue on 1 Dember 2023, and are signed on behalf of the board by.. The notes on pages 21 to 37 fomi part of thèse financlal statements. 19
Eastside Partnership Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2023 2023 2022 Cash flows from operating activities Net incomel(expenditure) 30,324 (42,006) Adjustments for." Depreciation of tangible fixed assets Other interest receivable and similar income Interest payable and similar charges Accrued expensesl(income) 11,339 (106) 660 11 11,836 4,953 (1,333) Changes in.. Trade and other debtors Trade and other creditors 40.446 (33.858) 48.816 49.179 (12.008) 10.621 Cash generated from operations Interest paid Interest received {660) 106 (4,953) Net cash from operating activities 48.262 5.668 Cash flows from Investing aGtivities Purchase of tangible assets Net cash used in investing activities (797) (797) Cash flows from financing activities Proceeds from loans from group undertakings Net cash from financing activities 9,993 34.692 9,993 34.692 Net increase In cash and $h equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 57,458 216.638 40,360 176.278 274.096 216.638 The notes on pages 21 to 37 form part of these financlal statements. 20
Eastside Partnership Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 General infomiation The charity is a publi¢ benefit entity and a private company limited by guarantee, registered in Northem Ireland and a registered charity in Northem Ireland. The address of th8 registered office is Avalon House, 278-280 Newtownards Road, Betfast. BT4 1 HE. Statement of compllance 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 (FRS 102) (Charities SORP (FRS 102)) and the Compani8s Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of rtain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling. which 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 estimatlon uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect Ihe amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the Circumstan5. Fund accounting Unrestricted fvnds are available for use at the discretion of the trustees to further any of the ¢harity'5 purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted 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. 21
Eastside Partnership Company Limited by Guarantee Notes to the Financial Statements fcontinuedj Year ended 31 March 2023 Accountlng pollcles {conllnu•d) Incomlng resources All incoming resources are included in the statement of financial adivities when entitlement has passed to the charity,. it is probable that thè economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: ncome from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. 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 this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts 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 to be spent on a particular purpose and returned rf unspent, in which case it may be regarded as restricted. Rosources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includ6s any VAT which cannot be fully recovered. and is classif18d under headings of the ststement of financial activities lo which it relates: expenditure on raising funds includes the costs of all fundraising activitles. events, non-charitable trading activities, 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 costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charty nor part of its expenditure on charitable activities. All costs are allocated to exp8nditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated diredly to that activity. Shared costs are apportioned beeen the activities th8y contribute to on a r8asonable. justifiable and consistent basis. Tanglble assets Tangible assets are initially recorded at cost. and subsequently ststed at cost less any accumulated depreciation and impalrment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreGiation and subsequent accumulated impairment losses. 22
Eastside Partnership Company Llmlted by Guarantee Notes to the Financial Statements (continu8d) Year ended 31 March 2023 Accounting policies (continued) Tangible assets (¢ontlnuedJ An increase In the carylng amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses. unless it reverses a charg8 for impairment that has praviously bean recognised as expenditure within Ihe statement of financial aclivities. 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 it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciatlon 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: Fixtures and fittings Computer equipment 330/0 Straight line 33°/o Straight line Impalmient of fixed assels A review for indicators of impairment is carried out at 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 at each reporting date. For the purposes of impaimiant testing, when it is not possible to estimate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of Ihe Cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment tasting of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefft from the synergies of the combination. irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount re1vable 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. 23
Eastside Partnership Company Limited by Guarantee Notes to the Financial Statsments (Gontinued) Year ended 31 March 2023 Accounting pollcles (contlnu•d) Financial instruments (conllnuodj Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatlV8s, are initially recognised at fair value. unless payment for an asset is deferred beyond nomial business terms or financed at a rate of intèrest 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 the statement of financial activitl8S, Wlth th8 exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impaimenl, an impaimient loss is recognised under the appropriate heading in the statement of financial adivities in which the initial gain was recognised. For all equity instruments regardless of significance, and oth8r financial ass8ts that are individually significant, these are assessed individually for impaimient. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to Ihe extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Deflned contribution plans ContribLrtions to defined ¢ontribution 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 prepayment will lead to a reduction in future payments or a cash r8tund. When contributions are not expected to 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 the discount is r8cognised as an expense in the period in which it arises. Limited by guarantee The ¢harlty is a wmpany limited by guarantee and every member undertakes to contribute to the assets of the company in the event of it being wound up. while being a member or within one year after ceasing to be a member, such amount as may be requlred not 8XC88ding £1. 24
Eastside Partnership Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations Sponsorship Donations Donations from subsidiary 2.193 2,193 5,414 5,414 5,414 2.193 7,607 Unrestricted Funds Restricted Total Funds Funds 2022 Donations Sponsorship Donations Donations from subsidiary 2,000 2.000 3.779 3,779 2.000 3,779 5.779 Charitable activities Restricted Total Funds Funds 2023 Restricted Total Funds Funds 2022 Department for Communities Belfast City Council Ardbarron Trust The Executive Office National Lottery Department of Education Tourism Nl Big Lottery Rank Foundation other Projects 172,625 106.249 172.625 106,249 169,759 166.233 2.000 110.446 75.000 159,583 169.759 166.233 2.000 110,446 75,000 159.583 102.133 102,133 160,118 5,504 3,950 34,000 8,341 160,118 5,504 3,950 34.000 8.341 4,875 4,875 592.920 592.920 687,896 687.896 other tradlng actlvltles Unrestricted Funds Restricted Total Funds Funds 2023 Third paty recharges Eastside Gr88nways Ticket sales 2,751 1,675 5,562 44,344 47.095 1,675 5.562 9.988 44,344 54,332 25
Eastside Partnership Company Limlted by Guarantee Notes to the Financial Statements (contlnu8dJ Year ended 31 March 2023 Other tradlng aclivities (conlinued) Unrestricted Funds Restricted Total Funds Funds 2022 Third paty recharges Eastside Greenways Ticket sales 4,630 4,630 3,727 3,727 3,727 4.630 8,357 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest 106 106 Costs of other trading activities Unrestricted Funds Restricted Total Funds Funds 2023 Wages and salaries IT support Renuserviced Office Training Project costs PR and marketing Support costs Meeting expens8S 720 1.500 48 6.875 720 1,500 48 9,670 2.795 1.436 1.494 1,436 1,494 14,868 12,073 2.795 Unrestricted Funds Restricted Total Funds Funds 2022 Wages and salaries IT support RenVSeNiced Office Training Project costs PR and marketing Support ¢05t5 Meeting expenses (14,967) 576 180 613 8.558 4.717 1.350 1.853 (14,967) 576 180 613 16.440 4.717 1.350 1.853 7.882 7.882 2.880 10.762 26
Eastside Partnership Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2023 10. Expendlture on charltable activities by activity type Activities undertaken directly Support costs Total funds 2023 Total fund 2022 Urban Regeneration Neighbourhood Renewal Activities Arts activities Education activities Governance costs 277,074 49,896 225,376 53.227 330,301 49.896 225,376 4.200 454.750 41.949 232,377 4,200 733,276 4,200 552,346 57,427 609.773 11. Analysis of support costs Urban Regeneration Activities Trading Activities Tolal 2023 Total 2022 Staff costs Premises Communicalions and IT Finance costs Govemance costs 41.615 9.452 2.160 41,615 9.452 2.160 1,437 4.200 41.419 9.139 2.304 1,351 4,200 1.437 4.200 57,427 1.437 58,864 58,413 12. Net Incomel{expenditure) Net incomel(expenditure) is stated after chargingl(crediting): 2023 2022 Depreciation of tangible fixed assets Fees payable for the audit of the financial statements 11,339 4,200 11,836 4,110 13. Staff Costs Th8 total staff costs and employee benefits for the reporting period are analysed as follows.. 2023 2022 Wages and salaries Social security costs Employer contributions to pension plans 285,463 37,292 29,089 351,844 276,429 37,066 29,429 342,924 The average head count of employees during th8 year was 12 (2022: 11). No employee received employee banefits of more than £60,000 durlng the year (2022.. Nil). 27
Eastside Partnership Company Limited by Guarantee Notes to the Financial Statements (¢ontind) Year ended 31 March 2023 13. Staff costs (contlnued) 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 the charity was £255.337 (2022:£231.222). 14. Trustee remuneration and expenses The charity trustees were not paid or received any other benefits from employment with the Charity in the year (2022.. £Nil). No charity trustee received payment for proféssional or other services supplies to the charity (2022- £Nil). 15. Tanglble fixed assets Fixtures and fittings Equipment Total Cost At 1 April 2022 Additions 16,763 34,313 797 51.076 797 At 31 March 2023 16,763 35.110 51.873 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 13,672 3,091 26,330 8.248 40.002 11,339 16,763 34,578 51,341 Carrying amount At 31 March 2023 532 532 At 31 March 2022 3,091 7,983 11,074 16. Debtors 2023 2022 Trade debtors Amounts owed by group undertakings Prepayments and accrued income 13.487 91.739 113.238 1,590 108,150 149,170 218,464 258.910 28
Eastside Partnership Company Limited by Guarantee Notes to the Financial Statements (contlftu8dJ Year ended 31 March 2023 17. Investments The company is the sole member of Eastside Greenways, Eastside Arts, Eastside Property Belfast. Eastside Tourism and Avec Solutions Limited. All companies are incorporated in Northem Ireland and are limited by guarante8. They are considered to be subsidiary undertakings of Eastside Partnership by virtue of the fact Ihat the company is the sole member of each subsidiary undertaking. The additional information required in respect of the subsidiary undertakings of the company is given below: Ave¢ Solutions Limited Northern Ireland Limited Guarantee N10345540 Eastside Property Belfast orthern Ireland imited uarantee N1034475 Property Development Not for Profit Eastside Greenwa ortharn Ireland imited uarantee 1615294 romotion o reenway Not for Profit Ea5tSide Arts Northern Ireland Limited uarantee N1628773 Eastside Tourism orlh8rn Ireland imited uarantee 1644116 ountry of Incorporation hares in issue om an number rincipal activity IT Solutions Not for Profit rading Com an NIA rts Festival Not for Profit Donnant om an tatus hari NIC101849 hari NIC100544 hari IC107782 Dormant NIA Chari number ggregate reserves at 1 March 2023 urplusl(deficit) for the ear ended 31 March 023 79,269 5 543,031 748,014 151.290 £2,014 82,967 £77.137 71,036 18. Credltors: amounts falling due within one year 2023 2022 Trade creditors Amounts owed to group undertakings Accruals and deferred income Social seGurity and other taxes Other creditors 15.995 57.983 12.741 17.303 35,516 47.990 12.730 24,398 7,242 104,022 127,876 19. Penslons and other post retirement beneffts Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined ontribution plans was £29.089 {2022: £29.429). 29
Eastside Partnership Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2023 20. Analysls of charitable funds Unrestrlcted funds At 1 April 2022 At31 Transfers March 2023 Income Exp8nditur8 General funds 134,428 15.508 (10.617) {1,456) 137,863 At 1 April 2021 At31 Transfers March 2022 Income Expenditure General funds 137,002 5,727 (8.301) 134.428 Unrestricted funds notes Goneral Fund This fund is the result of the charitys strategic objective to establish reserves which equate to between 25 /0 and 50 % of annual administration overheads. The aim is to provide sufficient funds to cover any unforeseen costs which may arise. as well as allowing for the payment of any liabilities which would arise should the charity cease to operata. Restricted funds At 1 April 2022 At31 Transfer5 March 2023 Income Expenditure Education small grants Tourism small grants Urban Regeneration small grants Arts small grants Other Projects Dfc Delivering Regeneration SIF BE Comm Education Urban Village Scaffolding project Urban Village Early Learning project BCC City Connections project BCC Holiday Hunger ritanic Foundation Other Education HLF Ea5tside Lives CFNI East Belfast Housing Lab TEO Family to Family East BCC Eastival Ardbarron Trust 7,714 1.954 12,996 6,304 (18,308) 2,402 9,714 1.456 22,507 3,605 49,230 16,159 10,326 16,958 (12,924) (11,269) (8,099) 25.742 2,662 58.089 172,625 (172,625) 349 48,000 (48,339) 10 3,933 21,133 (24.259) 807 37,464 50,000 (50,000) 37,464 30
Eastside Partnership Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 20. Analysls of charilable funds (eontlnu8d) Dep't of Foreign Affairs & Trade: Reconciliation Fund Dept for Education WRAP Project Save the Childr8n Crisis Fund Big Lottery Centenary Programme BCC Business Cluster BCC Locality Planning Urban Village Programme Assistance BCC Covid Recovery EBCDA Covid Education Support Social Enterprise Covid Fund BCC WBP Support DFC Arts Ubran Village Strat Tourism Dormant Accounts Fund Nl BCC Carew Healthy Comm BCC Diversionary BCC Arts People Make East BCC LPF Tackle Access Tourism Nl GB Website UV East Recover Comms Belfast Harbour Rank Foundation Newlownards Road Strategic Plan 160,118 17.211 (160,648) (17.1571 (530) 31,125 31,071 30,000 (20.000) (10.000) 66.491 (15,608) 50.883 38,627 (38.627) 34,000 (16.161) 17,839 5,000 10,000 15,000 224.318 639,457 (614.024) 1,456 251.207 31
Eastside Partnership Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2023 20. Analysls of charitable funds (Continued) At 1 April 2021 At31 Transfers MarGh 2022 Income Expenditure Education small grants Tourism small grants Urban Regeneration small grants Arts small grants Other Projects Dfc Delivering Regeneration SIF BE Comm Education Urban Village Scaffolding project Urban Village Early Learning project BCC City Connections project BCC Holiday Hunger Titanic Foundation Other Education HLF Eastside Lives CFN l East Belfast Housing Lab TEO Family to Family East BCC Eastival Ardbarron Trust Dep't of Foreign Affairs & Trade: Reconciliation Fund Dept for Education WRAP Project Save the Children Crisis Fund Big Lottery Centenary Programme BCC Business Cluster BCC Locality Planning Urban Village Programm8 Assistance BCC Covid Recovery EBCDA Covid Education Support Social Enterprise Covid Fund 62.512 8,147 (21.429) 49,230 169.759 (169,759) 1.059 1,059 10 38.000 (37.661) 349 6,147 34.590 (36,804) 3,933 39,664 (2,841) 8,962 12,409 (48) 55.000 3.000 (57,200) (159) 37,464 8,962 (12,409) (48) 4.099 4,099 3.536 3,507 1.331 3,536 3.507 938 2.000 (2,393) 6,823 (6,823) 159,583 (159,583) 31.071 1,015 31,071 2,241 2,500 (1,274) 10,000 20.000 8.708 (10,000) (25,000) (6,390) 5,000 2,318 3.000 5.000 (3,000) (588) (4,412) 270 270 7,000 7.000 32
Eastside Partnership Company Limited by Guarantee Notes to the Financial Statements (contlnuod) Year ended 31 March 2023 20. Analysls of charitable funds (eontinutd) BCC W3P Support DFC Arts Ubran Village Strat Tourism Dormant Accounts Fund Nl BCC Carew Healthy Comm BCC Diversionary BCC Arts People Make East BCC LPF Tackle Acce5S Tourism Nl GB Website UV East Recover Comms Belfast Harbour Rank Foundation Newtownards Road Strategic Plan 10.624 32.304 (5.3121 (32.304) 5.312 20,000 (20.000) 75,000 (8,509) 66.491 (4,9441 (77.090) 77.090 8,400 8.073 (8,3021 (7.OOOJ (6.9601 98 1.073 (6,960) 14.844 2.375 (14.844) 2.375 263,750 696,305 (735,737) 224.318 33
Eastside Partnership Company Limited by Guarantee Notes to the Financial Statements (Gontinuod) Year ended 31 March 2023 20. Analysls of charitable funds (contInU) Restrlcted fvnds note Department for Communlties - Delivering Effective Regeneratlon This represents the Contract for Funding between the company and the Department for Communities in order to deliver a regeneration strategy in east Belfast. Department of Education -'Wrap around. edu¢atlonal support programme Funding provided by DE in order to run an educational support programme in east Belfast targeted at young people facing significant challenges. Belfast City Council - City Connections Funding provided by Belfast City Council in order to facilitate a tourism development and capacity building programme in east BeaSt. The Executive Office - Strategic approach to tackling poverty (Scaffolding) Funding provided by the Executive Office under the Urban Villages programme in order to fund a part-time staff member in the Scaffolding project. which addresses areas such as holiday hunger and safe shared spaces. The Executive Office - Early leaming project Funding provided by the Executive Office under the Urban Villages programme in order to fund a series of events in areas such as smoother transitions, a reading fair, and other 8ducational training. The Executlve Office - Programme assistance Funding provided by the Executive Office under the Urban Villages programme with the aim of providing marketing, communications and community engagement support. The Executive OITice - Eastside tourism strategic development Funding provided by the Executive Office under the Urban Villages programme with the aim of 5UPPOrting the development of a strategic approach to tourism in the Eastside area. Save the Children A contract to provide early learning Community support in east Belfast. National Lottery Community Fund (Domiant accounts) - Organisational change Funding provided by the National Lottery Dormant aGGounts Nl fund in order to support a review of organisational structure and strategy. lo inform the implementation of measures to build capacity, sustainability, and resilience under the new organisational leadership. Belfast Clty Councll Comrnunlty dlversionary festival fund - Eastlval Funding provided by Belfast City Council in order to run a summer diversionary festival in conjunction with several community partner organisations in 8ast Belfast. Tourism Northern Ireland - George Best House webslts Funding provided by Tourism Northern Ireland in order to support the development of a dedicated website to showcase the George Best House. The Rank Foundation - Volunteer development Funding provided by the Department for Communities via the Rank Foundation to support the costs of employing a volunteer Cowordinator.
Eastside Partnership Company Limited by Guarantee Notes to the Financial Ststements (contlnu•d) Year ended 31 March 2023 20. Anatysis of charitable funds (eontinuedj Other Projects Restricted grants awarded to the Company to complete specific projects. 21. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors lass than 1 year Not assets 532 532 308,327 492,560 (57.652) (104,022) 251.207 389,070 184.233 (46.370) 137.863 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Net assets 11,074 11.074 279,164 475,548 (65,920) (127,876) 224,318 358.746 196.384 (61,956) 134.428 22. Taxation The Charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts. 23. Analysls of changes In net debt At At 1 Apr 2022 Cash flows 31 Mar 2023 Cash at bank and In hand Debt due within one year 216.638 (47.990) 168.648 57.458 {9.993) 47,465 274,096 (57,983) 216,113 24. Contingencies A contingent liability exists to repay grants ceiVed should certain conditions not be fvlfilled by the charity. In the opinion of th& Trustees, the temis of the letters of offer have been. or will be, complied with and no liability is expected. 35
Eastside Partnership Company Llmlted by Guarantee Notes to the Financial Statements (conllnu•dJ Year ended 31 March 2023 25. Related parties There were no related party transactions incurred during tha year. 36