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