Monkstown Village Initiatives Company Number: N.1. 063696 MONKSTOWN VILLAGE INITIATIVES LIMITED Independent Examinerfs Report To the charity trustees of Monkstown Village Initiatives Llmlted I report on the financial statements of the charity for the year ended 31, March 2025, which are set out on pages 17 to 28. 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 procedure5 laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65{9llbl of the 2008 Act; and state whether particular matters have come to my attention. Basis of Independent Examinerfs report My examination wa5 carried out in accordance with the general Directions given bythe 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 also 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 procedures 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 lim ited to those matters set out in the next statement. Independent Examinerfs statement In connection with my examination, no matter has come to my attention: {al 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 f inancial statements to be reached. Signed Date 15110/2025 Tony Clarke FCPA 53 Andersonstown Road Belfast BTII 9AG 16
Monl<stown Village Initiatives Company Number: N.1. 063696 Statement of Financial Activities Including an Income & Expenditure Account st for the year ended 31 March 2025 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complie5 With the requirements for an income and expenditure account under the Companies Act 2006. Notes Unrestricted Funds 2025 Restricted Funds 2025 Total Funds 2025 Total Funds 2024 Income Donations and Legacies I,iio 7,665 8,765 6,269 Income from Charitable Activities 44,574 104,421 148,995 120,818 TOTAL 45,674 112,086 157,760 127,087 Expendlture Charitable Activities 39,054 108,837 147,891 130,764 Total Expenditure 39,054 108,837 147,891 130,764 NET Incoming / Expenditure for the year before transfers 6,620 3,249 9,869 {3,677) Transfers between funds Net movement in funds 6,620 3,249 9,869 (3,677} Reconciliation of funds Fund Balances Brought Forward 41,247 {546) 40,701 44,378 Fund Balances Carried Forward 47,867 2,703 50,570 40,701 17
Monkstoivn Village Initiatives Company Number: N.1. 063696 st Balance Sheet as at 31 March 2025 Notes 2025 2024 FIXED ASSETS Tangable Fixed Assets CURRENT ASSETS Bank Balance Debtors 48,390 3,540 51,930 41,991 555 42,546 CREDITORS: Amounts due in less than one year Creditor5 and Accruals (1360} 118321 NET CURRENT ASSETS 50,570 40,701 NET ASSETS 50,570 40,701 REPRESENTED BY: Accumulated Fund - Restricted Accumulated Fund - Unrestricted 2,703 47,867 1546) 41,247 50,570 40,701 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 2025. 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 fianncial 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 Trusteee5 on 2025 Nigel Beattie irector (Treasurer) Company Registration Number: N1063696 18
Monkstowii Village Initiatives Company Number: N.1. 063696 The notes on the pages following119 to 271, form part of these financial statement5. st Notes to the Flnancial Statements for the Year Ended 31 March 2025 I. ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follow5: 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 1021 (effective 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. 5t bl 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 Organisation Ih (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 Cha rity 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 item(s} 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 102}, 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. 19
Monkstoivn Village Iiiitiatives Company Number: IN.1. 063696 st Notes to the Financial Statements for the Year Ended 31 March 2025 (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 inclLFdes 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 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 usef ul lives on the following basis: Office Equipment Furniture & Fittings 20% 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. 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 Financial Activities. jl Taxation The company is a registered charity and the charitable tax exemptions are therefore being claimed to the extent that income andlor gains are applicable and applied to charitable purposes only. These exemptions will remain in place as long as income and expenditure 15 applied to charitable purposes only. Critical Accounting estimates and judgements In the application of the charity's accounting policies, the trustee5 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. 2. FIXED ASSETS - None 20
Monks'toivn Village Initiatives Company Number: N.1. 063696 st Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) INCOME Notes Unrestricted Restricted Funds Funds 2025 Total 2024 Total Donations and Legacies Donations I,ioo 7,665 8,765 6,269 I,ioo 7,665 8,765 6,269 Charitable Activities Monkstown Community Forum Salaries etc. MCF Sage + contr Education Authority MCF DFD Grant Monkstown Community Forum Programmes ANBC Community Grant ANBC Christmas Grant ANBC payment from 2023/24 ANBC Bursary for Toby Rent from Hire of Premises Covenanted gifts for re.'think Grant from Smurfit Keep Nl Beautiful Grant Garden Services School Uniforms Grab A Grand Grant Gift from COGS Barnardo's Programmes Catering Miscellaneous Bank Interest 73,356 73,356 64,716 1,175 2,600 1,500 1,175 2,600 1,500 18,656 7,313 500 891 3,279 18,656 20,186 7,313 7,313 500 1,082 1,082 1,000 1,000 23,377 23,377 23,916 10,946 10,946 2,494 1,056 731 2,494 1,056 731 200 1,250 500 364 130 475 290 200 1,250 500 364 130 475 290 244 273 44,574 104,421 148,995 120,818 Total 45,674 112,086 157,760 127,087 21
Monkstown Village Initiatives Company Number: N.1. 063696 st Notes to the Financial Statements for the Year Ended 31 March 20251continued) EXPENDITURE Notes Unrestricted Re5tri¢ted 2025 2024 Fund5 Funds Total Total Charitable Activities Salaries and Ass Costs Heat and Light Office Costs Cleaning Materials Insurance Activities Events Room Hire Reg & Prof. fees Travel and Training Software/Hardware Gifts Bank Fees Subscriptions Vehicle Hire Clothing Sundries 27,835 2,709 4.3 1,422 1,118 999 85,855 3,500 300 113,690 103,018 6,209 7,473 1,722 I,oii 1,118 661 999 865 and Community 4,056 9,307 13,363 4,152 5,760 695 5,760 940 36 1,220 loo 159 990 1,585 7,560 1,035 480 245 36 4.3 45 loo 159 90 240 1,175 loo 147 1,333 2,380 518 900 1,345 31 39,054 108,837 147,891 130,764 5 MOVEMENT IN FUNDS Unrestrlcted Restricted 2025 2024 Balance brought forward 41,247 15461 40,701 44,378 Income for the year Expenditure for the Year Balance carried forward 45,674 112,086 157,760 127,087 39,054 47,867 108,837 2,703 147,891 130,764 50,570 40,701 22
Monkstown Village Initiatives Company Number: N.1. 063696 st Notes to the Financial Statements for the Year Ended 31 March 2025 {continued) Note 3.1 Donations Donations of £8,765 Unrestricted £1,110, Restricted £6012 to Rethink, £1653 to Youthworks Unrestricted Rethink Youthworks Gifts from Glenabbey Glenabbey Charity Football match Open House Trust Gift from COGS Green Boxes Human Kind Foundation Flourish Group Newtownabbey Friends Therapy Donations Total 2,000 580 iioo 900 580 2,000 500 393 360 622 400 1,910 8,765 2000 500 393 360 622 400 1,910 6,012 1,100 1,653 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&NBC) Grants Community Grant is a combination of: Premises Grant £5,000 restricted to general spend on heat, light, room rental and examination of accounts. A&NBC Programmes Grant £2,313 restricted to spend by MVI Youthworks, re.think and Garden A&NBC Christmas Grant £500 restricted to spend by re:think/re:act Note 3.5 Income restricted to MVI Youthworks Note 3.6 Income restricted to spend on light and heat Note 3.7 Income restricted to the Garden projects Note 3.8 Income restricted to the re:think/re,'act projects 23
Monkstoivn Village Initiative5 Company Number: N.1. 063696 Expenditure Note 4.1 Breakdown of Salaries Paid out Wages and salaries Employers National Insurance Employers pension Contribution Total 110,532 1,468 1,690 113,690 Monkstown Village Initiatives employ I full-time staff and 9 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. st Notes to the Financial Statement5 for the Year Ended 31 March 2025 (continued) Note 4.2 Activities and Community Events £13,363 - from re.think activities £2,206, Youthworks £7,530 and Garden project £3,627 Re:think/re:act activities Christmas Afternoon Tea Visit Folk Museum Repay COGS overpayment Wreath Making workshops Resources for Flourish meetings Total 735 166 500 504 301 2,206 MVI Youthworks activities ACE Sprayworks Visit Scrapyard Golf Abbey Pool and snooker BreckinHill Outdoor centre Visit Streamvale farm Tayto Tours The Big House Lake Kilrea Noel Carson Catering Spark Patricia McNally craft day Gifts to 5 charities Christmas prizes Easter activities End of Yearjune celebration Refund unspent EA Grant Materials for Impact girl's Group Resources for misc. events Total 685 186 670 840 229 250 526 900 219 loo 364 500 225 252 172 542 174 536 7,530 24
Monkstown Village Initiatives Company Number: N.1. 063696 Garden Project Spring flowerpot workshops Plants for Spark workshop Plants for Autumn workshops Plant workshops November Wreath making workshops Whittling workshops Plants for the garden Materials for pond and surround Plants for Surestart programme Total Overall Total 201 193 195 222 487 300 653 1,116 56 3,627 13,363 Restricted £9,307 Non-Restricted £4,056 25
Monkstown Village Initiatives Company Number: N.1. 063696 st Analysis of expenditure on Restricted Funding for the Year Ended 31 March 2025 Note 4.3 Expenditure on Restricted Funding Donations and Legacies £7,665 re:think/re:act £6012 Professional fees Room Rental Wreath Making Christmas Tea Party Flourish Spend Salary 695 3,060 252 235 217 1,553 6,012 MVI Youthworks Spend against £1653 TLG Spend Subscriptions + resources 900 5 Charities Easter Activities 500 253 1,653 Total 7,665 Grant Funding Grant Funding Activities Undertaken Spend against Grant Total £ MCF re.think Salaries & projects MCF Youth Salaries & projects 10,236 50,880 salary Youth Workers, salaries 10,236 50,880 MVI Garden Salaries & projects 12,240 Gardener's Salary Blackberry Farm Materials for pond Hannah's Nursery Plants Summer Workshops Sept. Workshops 11,172 300 228 125 271 108 1,032 Underspend c/f 2025-26 36 Total Office Costs 1,175 Sage Software + Hardware 1,175 EA Grant 2,600 Spend 685 ACE Sprayworks Transport to Portrush Net World Sports FIFA 25 Scrapyard Golf Youth Stationery 625 41 60 186 48 26
Monkstown Village Initiatives Company Number: N.1. 063696 Christmas Resources USB Anker HUB Abbey Craft &Snooker Folders 94 90 Pool 670 24 2,523 Underspend to return 2025-26 77 Smurfit 2,494 Spend 526 The Big House 526 Still to spend 2025126 1,968 MCF DFD £1,500 Light and Heat 1,500 Grab a Grand £1,250 Lake Kilrea Noel Carson Catering 900 210 I,iio Still to spend 2025/26 140 ANBC Community Grant £7,313 Rent Heat and Light Examination of Account5 Flourish Spring and Christmas catering Youth Easter and Summer entrance fees 2,700 2,000 300 166 1,318 materials and Equipment Transport Hire Arts and Crafts Total Already Received To be claimed during 2025126 252 720 168 7,624 7,313 311 ANBC Christmas Grant £500 Sarah's Sweet Treats Overspend Claimed against Donations 735 235 235 500 Keep N l Beautiful 1,056 Premium pack Multiple Flower pack5 Multiple Flower packs kelly Stone New leaf Compost Sam Kirk Kelly Stone Pond starter 103 332 99 80 90 490 151 27
Moiikstoivn Village Initiatives Company Number: N.1. 063696 Screwfix Andy's Stores BeechGrove Nursery Already Received 68 li 24 1,056 392 1,448 Claim remainder of grant in 2025/26 Bursary for Toby from ANBC 1,000 Will be spent in June 2025 on new cover for 1,000 pollytunnel Covenanted Gifts 10,946 CBT Salary 10,946 Garden Service5 731 Will be used during 2025/26 731 Duplicate payment from COGS 500 Returned 500 TOTAL 104,420 7,665 112,086 101,172 7,665 TOTAL Allocated Unspent 3,952 112,789 703 To be claimed in 2024/25 112,086 From Above 2024 Under spend Youth 2024 Under spend Garden 2024 Total Underspend 2,221 1,701 3,952 To be Claimed General To be Claimed garden 311 392 28