Monkstown Village Initiatives Company Number: N.1. 063696
MONKSTOWN VILLAGE INITIATIVES LIMITED
Independent Examinerfs Report
To the charity trustees of Monkstown Village Initiatives Limited
I report on the financial statements of the charity for the year ended 31, March 2024, which are set out
on pages 17 to 27.
Respective responsibilities of charity trustees and examiner
The charity trustees, who are also the directors of Monkstown Village Initiatives for the purposes of
company law, are responsible for the preparation of the accounts.
Having satisfied myself that the charity is not subject to audit under part 16 of the Companies Act 2006,
and is eligible for an independent examination, it is my responsibility to:
examine the accounts under section 65 of the 2008 Act;
2. follow the procedures laid down in the general Directions given by the Charity Commission for
Northern Ireland under section 6519)Ib) of the 2008 Act; and
state whether particular matters have come to my attention.
Basis of Independent Examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission
for Northern Ireland. An examination includes a review of the accounting records kept by the charity and
a comparison of the financial statements presented with those records. It a Iso includes consideration of
any unusual items or disclosures in the financial statements, and seeking explanations f rom you as charity
trustees concerning any such matters. The procedure5 undertaken do not provide all the evidence that
would be required in an audit and consequently no opinion is given as to whether the financial statements
present a "true and fair view" and the report is limited to those matters set out in the next statement.
Independent Examinerfs statement
In connection with my examination, no matter has come to my attention:
lal which gives me reasonable cause to believe that in any material respect the requirements
to keep accounting records in accordance with section 386 of the Companies Act 2006;
and
to prepare financial statements which accord with the accounting records, comply
with the accounting requirements of Section 396 of the Companies act 2006 and with
the methods and principles of the Statement of Recommended Practice.. Accounting
and Reporting by Charities;
have not been met,. or
Ibl to which, in my opinion, attention should be drawn in order to enable a proper understanding of
the financial statements to be reached.
Signed
Date 09/10/2024
Tony Clarke FCPA
53 Andersonstown Road
Belfast
BTII 9AG
16

Monkstown Village Initiatives Company Number: N.1. 063696
Statement of Financial Activities
including an Income & Expenditure Account
st
for the year ended 31 March 2024
The statement of financial activities include5 all gains and losses recognised in the year.
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 2024
Restricted
Funds 2024
Total
Funds
2024
Total
Funds
2023
Notes
Income
Donations and Legacies
1,411
4,858
6,269
8,282
Income from Charitable Activities
44,619
76,199 120,818 116,247
TOTAL
46,030
81,057 127,087 124,529
Expenditure
Charitable Activities
46,902
83,862 130,764 133,400
Total Expenditure
46,902
83,862 130,764 133,400
NET Incoming / Expenditure for
the year before transfers
(872)
(2,805) (3,677) (8,871)
Transfers between funds
Net movement in funds
{872)
(2,805) {3,677) (8,871)
Reconciliation of funds
Fund Balances Brought Forward
42,119
2,259 44,378 53,249
Fund Balances Carried Forward
41,247
(546) 40,701 44,378
17

Monkstown Village Initiatives Company Number: N.1. 063696
st
Balance Sheet as at 31 March 2024
Notes
2024
2023
FIXED ASSETS
Tangable Fixed Assets
CURRENT ASSETS
Bank Balance
Debtors
41,991
555
44,696
55
42,546
44,751
CREDITORS: Amounts due in less
than one year
Creditors and Accruals
11,832)
{3731
NET CURRENT ASSETS
40,701
44,378
NET ASSETS
40,701
44,378
REPRESENTED BY:
Accumulated Fund Restricted
Accumulated Fund - Unrestricted
1546)
41,247
2,259
42,119
40,701
44,378
The company is entitled to the exemption from the audit requirement contained in section 477 of the
st
Companies Act 2006, for the year ended 31 March 2024.
The trustee5 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 a pplication of resources, including its income and expenditure, for the f ianncial yea r 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 I l.
2024
Nigel Beattie Director (Treasurer)
Company Registration Number- N1063696
The notes on the pages following119 to 271, form part of these financial statements.
18

Monkstown Village Initiatives Company Number: N.1, 063696
Notes to the Financial Statements for the Year Ended 31, March 2024
I. ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the
prepa ration of the financial statements are as follows:
a) 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 1021 {effective I,
January 2015) - (Charities SORP IFRS 1021, the Financial Reporting Standard applicable in the UK and
Republic of Ireland {FRS 102) 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 (WHO) announced Coronavirus as a global health emergency and on the 11 March 2020, it
announced that Coronavirus was a global pandemic.
cl 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 itemls) 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
becoming 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.
f} 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.
19

Monlistoivn Village Initiatives Company Number: N.1. 063696
st
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
Expenditure is classified under the following activity heading:
Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its
activities and services 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.
gl Tangible fixed assets and 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% straight line
h) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term current accounts.
il 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 Financial Activities.
jl 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 readily apparent
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,
20

Monkstoivn Village InAtiatives Company Numbei.: N.1. 063696
st
Notes to the Financial Statements for the Year Ended 31 March 2024 Icontinued)
2 FIXED ASSETS
Furniture
Office
Equipment
Fittings
Total
COST
as at l April 2023
Additions
Disposals
as at 31 March 2024
244
1,678
1,922
244
1,678
1,922
DEPRECIATION
as at l April 2023
Charge for the Year
244
1,678
1,922
as at 31 March 2024
244
1,678
1,922
NBV
as at l April 2023
244
1,678
1,922
as at 31 March 2024
21

Monkstown Village Initiatives Company Number: N.1. 063696
st
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
INCOME
Notes Unrestricted Restricted
Funds
Funds
2024
Total
2023
Total
Donations and Legacies
Donations
1,411
4,858
6,269
8,282
1,411
4,858
6,269
8,282
Charitable Activities
Monkstown Com Forum Salaries etc.
MCF Sage + contr
Education Authority
Enkalon grantforgarden
Monkstown Community Forum Programmes
ANBC Premises Grant
ANBC Programmes Grant
Rent from Hire of Premises
M iscellaneous
Soil Association Grant
Bank Interest
64,716 64,716
891
891
3,279
3,279
61,338
731
3,000
250
17,475
5,000
500
27,230
131
20,186
20,186
3,750
3,563
23,916
244
3,750
3,563
23,916
244
500
92
273
273
44,619
76,199 120,818
116,247
Total
46,030
81,057 127,087
124,529
22

Monkstown Village Initiatives Company Number: N.1. 063696
5t
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
EXPENDITURE Notes Unrestricted Restricted
Funds
Funds
2024
2023
Total
Total
Charitable Activities
Salaries and As5 Costs
Heat and Light
Office Costs
Cleaning Materials
Insurance
Activities & Community Events
Sundries
Room Hire
Reg & Prof. fees
Travel and Training
Gifts
Bank Fees
Subscriptions
Vehicle Hire
Clothing
38,302
4,394
120
661
865
558
31
1,306
64,716 103,018 103,499
3,079
7,473
5,891
891
I,oii
1,049
661
666
865
4,152
31
7,560
1,035
480
loo
147
1,333
2,380
518
1,622
11,775
121
5,760
I,ioo
48
130
149
1,310
280
3,594
6,254
1,035
445
35
loo
147
183
200.00
1,150
2,180
518
46,902
83,862 130,764 133,400
5 MOVEMENT IN FUNDS
Unrestricted Restricted
2024
2023
Balance brought forward
42,119
2,259
44,378
53,249
Income for year
Expenditure for the Year
Balance carried forward
46,030
46,902
41,247
81,057
83,862
{5461
127,087 124,529
130,764 133,400
40,701
44,378
23

Monlistown Village Initiatives Company Number: N.1. 063696
st
Notes to the Financial Statements for the Year Ended 31 March 2024 Icontinued)
Note 3.1 Donations
Donations of £6,269 Unrestricted £1,411 , Restricted £3,055 to Rethink, £1,598 to Youthworks, £205
to Garden
Unrestricted
Rethink
Youthworks
Garden
Gift Aid
Gifts from Glenabbey
Amazon Smile
Gift from Rotary
Gift from COGS
Green Boxes
Gift from Abbey
Donations for Rethink
1,518
2,000
21
300
205
198
750
1,277
6,269
290
I,ioo
21
1,228
900
300
205
198
500
250
1,277
3,055
Total
1,411
1,598
205
Note 3.2
Income restricted to MVI Youthworks, re.think and Garden.
Note 3.3
Income restricted to Sage expenditure.
Note 3.4 Antrim & Newtownabbey Borough Council IA&NBCI Grants
Premises Grant £5,000 restricted to general spend on heat, light, room rental and cleaning materials.
Note 3.5
Income restricted to MVI Youthworks
Expenditure
Note 4.1 Breakdown of Salaries
Paid out
Wages and Salaries
Employers National Insurance
Employers pension Contribution
Refund SSP
Total
100,238
1,745
1,752
236
103,499
Monkstown Village Initiatives employ 2 full-time staff and 8 part-time staff, none of whom receives more
than £60,000 per year.
The Charity has paid all National Insurance Contributions up to date. It makes pension contributions in
line with The Pensions Regulator guidance.
The Directors received no salaries and have received no expenses during the year.
24

Monkstown Village Initiatives Company Number: N.1. 063696
st
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
Note 4.2 Activities and Community Events
£4,152 - from re.think activities £1,196, Youthworks £2,508 and Garden project £448
re:think/re:act activities
Christmas Afternoon Tea
Materials for Flourish
Visit to Secret Garden
601
127
468
Tota I
1,196
MVI Youthworks activities
Resources for TLG
Visit Carrickfergus Castle
Repairs
Summer Scheme outings
AccessNI Checks
Printer
Darts Equipment
Stationary
Sports Equipment
Arts and Crafts supplies
Resources for Christmas events
Resources for Summer events
16
120
129
1,066
155
94
66
71
346
242
194
Total
2,508
Garden Project
Plants for Summer programmes
Surestart Programme supplies
Plants for October Planter Day
162
123
163
Total
448
Overall Total
4,152
Restricted £3,594
Non-Restricted £558
25

Monkstown Village InitRatives Company Number: N.1. 063696
st
Analysis of expenditure on Restricted Funding for the Year Ended 31 March 2024
Note 4.3 Expenditure on Restricted Funding
Donations and Legacies
£4,858
re.'think/re.'act £3,035
Professional fees
CBT Materials
Rent
735
566
1,754
3,055
MVI Youthworks Spend
against £1,598
TLG Spend Subscriptions +
resources
900
Clothing
Materials
518
480
1,598
Garden project £205
Subscription A Rocha
205
Total
205
4,858
Grant Funding
Grant
Funding
Activities Undertaken
Spend
against
Grant
Total
MVI re.think salaries/projects
MVI Youthw Salaries/projects
8,196
45,360
Salary
Youth Workers, salaries
8,196
45,360
MVI Garden Salaries/projects
11,160
Garden Manager's Salary
11,160
Office Costs
EA Grant
891
Sage Software + Hardware
891
2,200
Spend
Net Worlds Sports
Dart Board
20
Darts
Darts mat
Board Surround
Delivery etc.
HP Printer
Glue Sticks
Scissors
Colouring Pens
Spike ball
XBOX Dock
Euroffice
Staff Training
United Bus Company
Total
18
20
25
li
155
17
23
25
52
20
346
329
650
1,711
Underspend c/f 2024/25
489
26

Monkstown Village Initiatives Company Number: N.1. 063696
EA Grant
1,079
Spend
478
Electricity Feb/Mar 2024
Gas Mar 2024
Total
601
1,079
Over paid Room Rental from
Connected Health
£1,800
Returned 11/0512024
1,800
Soil Association Grant
£161
Carried forward from last
year
Travelling
Subscription A Roche
116
45
161
A&NBC Community Grant
£8,346
Rent
Heat and Light
Examination of Accounts
Flourish Spring and
Christmas catering
Youth Easter and Summer
entrance fees
Transport Hire
Arts and Crafts
Total
2,700
2,000
300
630
930
1,530
256
8,346
Already received
To be claimed during
2024/25
7,313
1,033
TOTAL
79,193
4,858
84,051
78,704
4,858
83,562
TOTAL
Allocated Unspent
1,289
85,340
1,033
To be claimed in 2024/25
83,818
Overspend from 2024
MVI Youthworks
Underspend from 2024
MVI Youth Misc.
489
MVI Garden Project
MVI rethink
MVI Rethink
Unspent against A&NBC
Grant Misc
1,033
27