Monlistown Village Initiatives Company Number: N.1. 063696 Statement of Financial Activities including an Income & Expenditure Account st for the year ended 31 March 2023 The statement of financial activities includes all gains and losses recognised in the yea r. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. Unrestricted Funds 2023 Restricted Fund$ 2023 Total Funds 2023 Total Funds 2022 Notes Income Donations and Legacies 2,259 6,023 8,282 7,898 Income from Charitable Activities 43,128 73,119 116,247 111,437 TOTAL 45,387 79,142 124,529 119,335 Expenditure Charitable Activities 55,493 77,907 133,400 123,933 Total Expenditure 55,493 77,907 133,400 123,933 NET Incoming / Expenditure for the year before transfers {10,106) 1235 (8,871) (4,598) Transfers between funds Net movement in funds (10,106) 1235 (8,871) (4,598) Reconciliation of funds Fund Balances Brought Forward 52,225 1,024 53,249 53,249 Fund Balances Carried Forward 42,119 2,259 44,378 53,249 16
Monkstown Village Initiatives Company Number: N.1. 063696 st Balance Sheet as at 31 March 2023 Notes 2023 2022 FIXED ASSETS Tangible Fixed Assets CURRENT ASSETS Bank Balance Debtors 44,696 55 51,505 1,682 53,187 44,751 CREDITORS: Amounts due in less than one year Creditors and Accruals 13731 162) NET CURRENT ASSETS 44,378 53,249 NET ASSETS 44,378 53,249 REPRESENTED BY: Accumulated Fund - Restricted Accumulated Fund - Unrestricted 2,259 42,119 1,024 52,225 44,378 53,249 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31, March 2023. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the f ianncia l year in accordance with the requirements 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 company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The financial statements were approved by the Trusteees on 2023 Nigel Beat e Director (Treasurer} Company Registration Number: N1063696 The notes on the pages following118 to 271 form part of these financial statements. 17
Monkstown Village Initiatives Company Number: N.1. 063696 st Notes to the Financial Statements for the Year Ended 31 March 2023 I. ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: al Basis of preparation The financial statements have been prepared in accordance with 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) leffective I, January 20151 (Charities SORP IFRS 1021, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Monkstown Village Initiatives meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notelsl. b} Preparation of the accounts on a going concern basis The trustees are of the opinion that the charity is a going concern due to the level of reserves in place. th The trustees have considered this in the knowledge that on the 30 January, the World Health th Organisation IWHOI announced Coronavirus as a global health emergency and on the 11 March 2020, it announced that Coronavirus was a global pandemic. c} Fund Accounting Unrestricted funds are funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of restricted funds is set out in the notes to the financial statements. Restricted funds may only be transferred to general or designated funds once the criteria for restriction have been discharged or no longer apply. dl Income Income is recognised when the charity has entitlement to the rent, funds, any performance conditions attached to the itemlsl of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income is deferred only when the charity has to fulfil conditions before becom ing entitled to use it in the period. el Donated services and facilities In accordance with the Charities SORP IFRS 1021, the general volunteer time of supporters is not recognised. fl Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. 18
Monkstown Village Initiatives Company Number: N.1. 063696 st Notes to the Financial Statements for the Year Ended 31 March 2023 (continued) Expenditure is classified under the following activity heading: Expenditure on charita ble activities comprises those costs incurred by the charity in the delivery of its activities and seNices for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. g) Tangible fixed assets a nd depreciation Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Office Equipment Furniture & Fittings 20/0 Straight line 20/0 Straight line h) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term current accounts. i} Value added tax Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financia l Activities. j} Taxation The company is a registered charity and the charitable tax exemptions are therefore being claimed to the extent that income and/or gains are applicable and applied to charitable purposes only. These exemptions will remain in place as long as income and expenditure is applied to charitable purposes only. Critical Accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about carrying the amount of assets and liabilities that are not read ily a pparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both the current and future periods. 19
Monkstown Village Initiatives Company Number: N.1. 063696 Notes to the Financial Statements for the Year Ended 31st March 2023 (continued) 2 FIXED ASSETS Furniture Office Equipment Fittings Total COST as at l April 2022 Add itions Disposals as at 31 March 2023 244 1,678 1,922 244 1,678 1,922 DEPRECIATION as at l April 2022 Charge for the Year 244 1,678 1,922 as at 31 March 2023 244 1,678 1,922 NBV as at l April 2022 244 1,678 1,922 as at 31 March 2023 20
Monkstown Village Initiatives Company Number: N.1. 063696 st Notes to the Financial Statements for the Year Ended 31 March 2023 (continued) INCOME Notes Unrestricted Restricted Funds Funds 2023 2022 Total Total Donations and Legacies Donations 2,259 6,023 8,282 7,898 2,259 6,023 8,282 7,898 Charitable Activlties Monkstown Community Forum Salaries etc. HMRC Job Retention Scheme MCF Sage + contr Education Authority Enkalon grant for garden Monkstown Community Forum Programmes ANBC Premises Grant ANBC Christmas Grant ANBC Summerscheme Rent from Hire of Premises STJohn Ambulance Training Harbour Commissioners Grant Miscellaneous HMRC CSSP Soil Association G ra nt Bank Interest 61,338 61,338 55,223 1,397 731 3,000 250 731 3,000 250 17,475 5,000 500 3,035 1,800 17,979 17,475 5,000 500 5,000 1,200 24,855 200 25,430 1,800 27,230 650 131 131 96 500 500 92 92 43,128 73,119 116,247 111,437 Total 45,387 79,142 124,529 119,335 21
Monkstown Village Initiatives Company Number: N.1. 063696 st Notes to the Financial Statements for the Year Ended 31 March 2023 (continued) EXPENDITURE Notes Unrestricted Restricted Funds Funds 2023 Total 2022 Total Charitable Activities Salaries and Ass Costs 42,161 61,338 103,499 99,641 Interns 474 Heat and Light Office Costs Cleaning Materials Insurance Activities and Community Events Sundries Room Hire Reg & Prof. fees Travel and Training Gifts Bank Fees 4,391 318 266 1,622 1,500 731 400 5,891 1,049 666 1,622 3,945 207 919 1,503 2117 9,658 11,775 7,711 121 2,660 I,ioo 48 130 149 121 5,760 I,ioo 48 130 149 3,100 5,760 1,055 371 130 37 Repairs and Renewals 524 Subscriptions Vehicle Hire Equipment Hire 410 900 280 1,310 280 783 690 135 Clothing 45 55,493 77,907 133,400 123,933 5 MOVEMENT IN FUNDS Unrestricted Restricted 2023 2022 Balance brought forward 52,225 1,024 53,249 53,249 Income for the year Expenditure for the Year Balance carried forward 45,387 79,142 124,529 119,335 55,493 42,119 77,907 2,259 133,400 123,933 44,378 53,249 22
Monkstoivn Village Initiatives Company Number. N.1. 063696 st Notes to the Financial Statements for the Year Ended 31 March 2023 (continued) Note 3.1 Donations Donations of £8282 Unrestricted £2,259- restricted £1,250 to re:think; £4,193 to Youth Works,. £580 to Garden. U nrestricted Rethink Youthworks Garden Gift Aid Gifts from Glenabbey Amazon Smile Blythswood Gift from Rotary Gift from COGS Green Boxes Gift from Abbey Gift from Brown's Donations for General Donations for Rethink 289 1,875 19 1,000 300 1,000 399 500 1,000 20 250 289 931 19 1,000 944 300 1,000 399 500 1,000 20 250 Donations for Youth Works 1,350 280 1,350 Donations for Garden 280 Total 8,282 2,259 1,250 4,193 580 Note 3.2 Income restricted to MVI Youth Works, re.think and Garden. Note 3.3 Income restricted to Gardening Project. Note 3.4 Antrim & Newtownabbey Borough Council Grants Premises Grant £5,000 restricted to general spend on heat, light, room rental and cleaning materials. Expenditure Note 4.1 Breakdown of Salaries Paid out Wages and Salaries Employers National Insurance Employers pension Contribution Refund SSP Tota I 100,238 1,745 1,752 236 103,499 Monkstown Village Initiatives employ 2 full-time workers and 7 part-time workers, none of whom receives more than £60,000 per year. The Cha rity has paid all National Insura nce Contributions up to date. It makes pension contributions in line with the terms from The Pensions Regulator. The Directors received no salaries and have received no expenses during the year. 23
Monkstown Village Initiatives Company Number: N.1. 063696 st Notes to the Financial Statements for the Year Ended 31 March 2023 (continued) Note 4.2 Activities and Community Events £11,775 from re.think activities £643, Youth Works £8,954 and Garden project £2,178 Re:think/re:act activities Christmas Afternoon Tea Materials for Flourish Total 591 52 643 MVI Youthworks activlties Spend against EA Grants Easter programme Summer Programme SPARK Transforming Lives For Good Return unspent EA Grant BaizeCraft- 2 table games Nintendo Play it By Ear Resources for Girls, Group Dodgeballs Misc. Purchases Total 2,701 308 1,376 258 44 1,836 1,584 287 260 39 103 158 8,954 Garden Project Resources for Harbour Commissioners Grant Resources for Soil Association Grant Materials for Garden Show Ireland Plants for EA Summer Scheme Grow Some Veg Workshop Garden Christmas Event Garden Mothers, Day event Garden materials Total 459 339 251 51 180 423 425 50 2,178 Overall Total 11,775 Restricted £9,658 Non-Restricted £2,117 24
Monkstown Village Initiatives Company Number: N.1. 063696 st Analysis of expenditure on Restricted Funding for the Year Ended 31 March 2023 Note 4.3 Expenditure on Restricted Funding Donations and Legacies £6,023 re:think/re.'act £1,550 Spend against CBT Therapist Salary 1,550 MVI Youth Works Spend against £4193 TLG Spend Subscriptions + resources 944 Easter Programme Baize Craft 2 table games Summer Scheme 308 1,584 1,357 4,193 Garden project £280 Grow Some Veg Plants for Oct Events Mothers, Day Event 180 50 50 280 Total 6,023 Grant Funding Grant Funding Activities Undertaken Spend against Grant Total MCF re.think Salaries & projects MCF Youth Salaries & projects 4,818 Salary 4,818 45,360 Youth Workers, salaries Overspend 50,959 5,599 MCF Garden Salaries & projects 11,160 Gardener's Salary Unspent Sage Software + Hardware 10,853 307 Office Costs EA Grant 731 731 3,000 Spend 40 117 Tesco Hobbycraft Amazon The Range Belfast Zoo Craft workshop Airtastic The Arc open farm Gaming bus Kyles Inflatables United Bus Company United Bus Company Garden Materials 31 18 256 310 497 218 200 75 610 280 51 25
Monkstown Village Initiatives Company Number: N.1. 063696 IKEA Furniture 297 3,000 Return unspent Grant to EA from 2021-22 £1,836 Returned 28/07/2023 1,836 Over paid Room Rental from Connected Health £1,800 To be Returned during year 2023/24 1,800 Harbour Commissioners Grant for Garden Project C/F from 2021/22 £458 Wood Handshakes Waves Workshop Purchase plants loo 244 114 458 Enkalon Grant £250 Materials for Garden Show Ireland 250 Soil Association Grant £500 Spend against Grant To be carried forward to next year 339 161 ANBC Premises Grant £5,000 Room Rental Electricity Gas Cleaning Materials 3,100 900 600 400 5,000 ANBC Christmas Grant re.think 500 Materials for Christmas event 500 75,413 TOTAL 80,544 81,436 86,567 5,599 468 Allocated Unspent Allocated Overspend 81,436 Underspend from 2022 MVI Youth Works 1,359 MVI Youth Misc. Over Spend 5,599 4,240 MVI Garden Project 2,554 Unspent aga inst Salaries 307 26
Monkstown Village Initiatives Company Number: N.1. 063696 etc Soil Association Gra nt to spend during 2023/24 161 468 From Above 2022 Overspend Over spend Youth 2023 Under spend Garden 2023 Under spend General 2023 Total Overspend 4,240 468 1,800 1,972 27