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