Company Ye8iSlrnfiOTr nwnber. N1623538 Charxy re8istration number: 102428 BeLFhsT Ornieau Road Boxing Club Ltd (A comwy limiied by 8uarartee) Annual Repon and Financial Swemen for the Year Ended 31 March 2022 *)BJG6YO3' McKeague Morgan & Company 27 College Gardens Belf251 BT9 6BS Orme4u Road Boxing Club Ltd Contents Ref¢r¢nce and Adminisiraiive De￿lIS TTusi¢e$' Report 2103 Siaiement of Tntsie¢s' Responsibiliiies Ind¢p¢ndeni Examiner% Repon Siaiemeni of Firtancial A¢rivilies Balance Sheei Noies to ihe Financial Statements 81014 Ormeau Road BoxiDg Club Ltd Reference and Administrative Detaits Truslee5 Mr John Toland Ms Teresa Doherty Mr Charles Tolatvj Principal Offiee 469 Ormeau Road BELFAST BT7 3GR The chariry is incorpora*d in Northern Ireland. N1623538 Company R¢gi5tr*llon N•mber Charity R¢t•stratlon Nythbtr IC12428 B4nker$ First Trum Bank (Nl} Onneèu Road Branch 425- 427 Orneau Road Belfasi County Antrim BT7 3GQ Nicholas McKeague McKtrdgve Mor8aTh & Company 27 College Gardens Belfasi BT9 6BS Independent Exgminer Page I Ormeau Road Boxing Club Ltd Try$tees' Report The Iwsiees. who are direciors for Ihe purposes of ¢ompany law, present the annual rq)ort iogeiher with the rinancial siaternents of ihe charitable company for ihe year ended J l March 2022. Trvsiees Mr John Toland Ms TEresa Doherty Mr Charks Toland Strmttutt. govern•Mt Ind man*8erntfvi Naltsre #fgoveniliig docum¢ni The company is governed by the Memordndum and Articles of Associaiion. Orgoiiisoliontslsiru¢lure Th¢ ch¥iry wa5 incorporaEed on 20 March 2014 wider the Cornpan¥es ACT 2006, being a private company limited by guaranttt having a Share ¢apiial. Trustt¢s are family and friends who havt th¢ necessary ski115 needed io fffih¢r advance the rttds of lh¢ thariry. None of the Trustees has any beneficial Intere￿ in the COM￿Y. All of the Tn￿leeS are members ol the company and 8u•raniee io coniribuie £ l in the eveni of a winding Ilp. ObjtttiV¢5 ¥Ad *ctivilie5 Obie¢i.f findoinis The ¢harity5 objeciives are specifically resrricied 10 the follo¥viDg'.- (i) io provide oppornunilies for the youn8 people from ihe (kneau Koad and surrounding areas of South Belfasi 10 participaie in sport and physical a¢tivity namely boxin (li) 10 provide QPPOTluniiies for participaiion in sport and physical xiiviiies io all regardl¢￿ of s¢x. religion, eihnirity, age or ability- (iii} 10 provide opponuniiie5 for local peopk io volwhieer withirt the club as administrnior5, coaches and evertl steward$; (iv) 10 provide faciliiies appropria* for boxing and other physical fitness a¢tiwites which mtti all relcvarti health and safery regulaiions. {vl io deliver persortal development and iraining progrJmmes for young people frr)m the Om*au Road and surrounding areas of SO￿￿1 Belfasthai are based upon their [￿ed5 and inier¢515 Public beitefil The chariiy is coniinuing to progress and PToYide rnore opwirtunilies to a wKler rnnge of members in ihe surrounding Souih Belfasi Area. There are currenily 4 members who are County Anirim Char￿10￿S and 3 Ulster champions. The Irusiees confirni ihat they hJve complied wilh the requiremen￿ of the Ch8ri1i¢s Aci to have due regard to the public b¢n¢fii guidance i55yrd by the Charity Commission. Ormeau Road Boxing Club Ltd Trnstees. Report Finaneial review li is Ihe policy of Ihe charity ihjt unrestricted fvnds which have not been deS1￿[¢d for a specifi¢ use should be maimaiTred ai a level eqvivaleni to benv¢en three and six-month's txpendittbre. The Trnsiees considers Ih reserves ai this level will ensure thai. in ihe eveni of a significani drop in fvnding, they will be able io contbnue the chariry's ¢urr¢nl aciiviiies while ronsideraiion 1$ given io ways in which additional fvnds rnay be raised. The Twsiee5 are working io achieve funds of ihis level. The TNsiees have assessed ihe major risks io which the chwity 15 ex￿sed. and are ￿l$fIed thai sysitms are in place io miiigaie exposure io the major risk5. Small eomponles pwovision st4itmenl This report ha5 been prewed in accord￿(¢ with the small compknie5 regime ￿der ihe Companits Aci 2006. The I report was appro the In￿1¢¢5 Df ￿ ¢lwiiy on 14 December 2022 signed its behalf by: Mr Charl¢$ Toland Tru51tt Orrneau Road Boxing Club Ltd Statement of Trust¢es' R¢sponsibiliti¢s The irustecs (who are a150 Ihe diTecior5 of Ormeau Road Boxhng Club Lid for the purposes of company law) yre responsible for preparing the trusiees. iiport and rhe financ181 swements in accordJn¢¢ wilh th¢ UnTied Kingdom AccOU￿ting S￿ndards (Uniied Kingdom Generally Accepied Acwunting Prnciice) and applicable law and regulaiions. Company law requires the irusiees LO Prepare fin8n¢ial 5ts*ments fw each finarKial year. Under cornparhy law the trusiees mu51 noi approve the financial 51atemcnis unless they are Satisfied Ihat Ihcy give a Irue and fair Yi¢w of Ihe stale of afyairs of ihe chariiable ¢ornpany bnd of ir5 incoming resources and application of resources. including ils income and expenditure, for thai period. In preparing th¢5e financial statemenis. Ihe trusiees are requI￿d io- seleci suiiable accouniiDg policies and apply them wnsisienily- observe ihe meihods and principles in Ihe Charilies SORP.. make judgemenis and esiimaies ihat 4Te reasonable and prudent: stale wheiher applicable UK Atcovniing Siartdards have been followtd. subjea w any material departures disclosed and explained in Ihe financial siaiemenis,. and prepare ihe financial #aiemenis on ihe going Co￿tM basi5 unle$5 ii is ill4>propriate io presume ihar ihe chariiable rompaThy will continue in bu$iness. The tn￿tte$ ar¢ Tesponsible for keeping adeqvait accountin8 records that are sufficieni 10 5hoiv and exploin Ihe chJriiable company'5 ITaiisaciions ?nd disc105e with reasonable a¢cura¢y ai any lime the finlnrial posiiion of the hariiable company and enable ihem 10 ensure ihai ihe financial siatrmen15 comply with the Companies Aci 2006. They ère also re5ptsnsible for safeguardin8 ihe asstrs of the charitabk company and hence for taking reasonable steps for ihe preveniion and deiection of fraud artd (rther irregulaTiiie5. Ap v¢d Ihe m￿[ce$ of ihe charity on 14 December 2022 and 5i8ned on its behalf by". Mr Charle5 Toland TTUStee Page 4 Ormeau Road Boxing Club Ltd Independ¢Dt Examin¢T'5 Report to the tryst¢e$ of Ormeau Road Boxihg Club Ltd I report 10 ihe chariry misiees on my txaminaiion of ihe accounts of the charity for'ihe year ended 31 March 2022 which are sei oui on pages 6 to 14. Re5pttlive respoftsibilities of tru5ttes and examiner As the charity's trusiee5 of Ormeau Road Boxin8 Club iAd (and also its direciors for ihe purposes of company lawl you are responsible for ihe preparation of the accounts in accordance wilh the requir¢rneni$ of the Companies Act 2006 ('Ihe 21)06 Aci,). Having 5aiisfi¢d myself ihai ihe accoun￿ of OrnKau Road Boxin8 Club Ltd are noi required 10 be audited under Ihe 2006 Ari and are ¢ligible for ind¢p¢ndeni eKarninalioll. il is my Teponsibiliry 10-. examine the accounrs under Section 65 tsf rhe Ch8riiie5 Act (Northern Ireland) 21x18 ('Ihe Charities Aci'}. Follow the procedures laid down in Ihe generdl Direct￿nS 8iven by Ihe Charity Cornmission for Northern Ireland under SKiion 65(9Xb) ofthe Chariiie5 Act, and * siaie whether particulai matters ha¥¢ c¢)me io rny atteniion. Ba515 of independent examiner's report I have examined your chariry accounis as required vnder Setiion 65 of the Ch2rities ACT and my examinaiion was ca￿l¢d out in accordance wilh lh¢ gtncral Direction5 given by (he Charity Commi55ion for North¢rn Ireland under Seciion 05(91(b) of Lh¢ Chariiies Aci. The examinaiioTh included a review of the accountin8 records k¢pi by Iht chariry and a cornparisoft of any unusual iiems or disclosures irt ihe accounts. and seeking explanaiions from you as charity trustees con¢eniing any su¢h mallets. My role 1$ Èo state whether any mat¢rial fflauers have come io my attention giving me eause to believe.. l. a¢rounling records were noi kepl in respect of Road Boxing Club Ltd as required by section 386 ofihe 2006 Aci: or 2. the accoun¢S do noi accord wilh Ihos¢ r¢cords: or 3. Ihe accounts do noi Comply wilh ihe accounting reouhrernenis of Section 396 of ih¢ 2006 Acl oiher Ihan any ￿qUIreMenT thai ihe accounts give a 'tyue and fair vi¢w' which is noi a mottv considertd as pan of an independeni examinaiion-, or 4. the accounts have noi be¢Tr prepared in accordan¢e the methods and principlek of ihe s￿lement of Recommended Practice for ac¢ountin8 and reporting by charities applicable io thariiies preparing iheir acrounis (n 2ccordznce wi¢h ¢he Financial Reponing Startdard 8ppli¢4ble tn rhe UK and Republtrc of Ireland (FRS 102). IndepeThdent examiner's siaiement I have no concerns and have come across no other matters in connection with the examination to i¥hich an¢niioTh Should be drdwn in rhis r¢port in order to enable a proper understsnding of ihe ateourtis io be reached. Nichola5 McKeague Insittuie of Chartered A¢¢ouniants in Irela McKeague Morgan & Company 27 College Gardens Belfa51 BT96BS 14 December 2022 Pa8e S Ormcau Road Boxing Club Ltd Statement of Financial Activities for tb¢ Year Ended 31 Marrh 2022 (Including Income #nd Expenditure A¢¢ount and Statement of Total Recognised Gains *nd Losses) Toixl 2022 U*rutricted Resiricted Note In¢offl¢ from: Donaiions and le8acies To￿1 irthme 4.969 4,969 4.969 4,969 Exptndit•re 0￿- Chariiable 4ciivilies {10,711) {10.711 Total expendiiure {10.711) (10.711) Nei expenditure 5.742 (5,742) Net movemeoi in funds (5,742) (5.742) Re¢oncillaiion offunds Toial fvnds brou8hi fon¥ard Total funds carried forward 3.76D s.￿0 8,760 {1,982) 3,018 Total 2021 UTrrutricted funds Resiricted runds No¢¢ Ineome #nd EDdowffjenis from: Donolions and leg¥ci¢s 12.936 17.936 Toial inrome 12,936 17.936 Exptndi¢ur¢ on- Chariiable a¢tiYiti¢s (2.661) (2.061) Total expenditure Net income (2.661) 2.6611 10275 15.275 Nei movemeni in funds 10275 5.(J)O 15,275 Rtcon¢lliition of funds Total fund$ bmughi f(Kw8rd To¢al carried fonvard (6.515) 16.515 3.760 5,WO 8,760 All of the charl￿$ aciivities derive from coniinuing O￿l0[LI during above two period5. Th¢ ￿￿e$ on page5 8 10 14 fo￿ an iniegrnl pan ol these financial Matements. Page 6 Ormeau Road Boxing Club Ltd (Regis¢rAtiofj number: N1623538) Balance Sheei as gt 31 Mgrth 2022 2022 2021 Nott Current •55el$ Cash ai bank and in hand 4.368 10.1 10 Crediiors: AMo￿nIS fxlline due wilhin one ye•r Nel 955et5 10 (1,350) (1.350) 3.018 8,760 Funds of ihe ehsrily: Reslrlcled into￿t f￿￿￿5 Re51ricted fvnds 5,000 Unrestrttted incom¢ funds Unresiri¢ied funds {1.982) 3,018 3,760 To¢AI funds 8,760 For ihe finpncial year ending 31 March 2022 th¢ charity whs entiiled to exemption fr1￿ audii undei section 477 Df ihe Companies A£1 2006 relaiin8 10 small companie& Direciors. responsibiliiies: The members have not required the charity io obtain aD audit of its accounts for the year in question in accordance wilh s¢¢iion 476; and The direclor5 acknowledge their responsibilities for complyin8 with th¢ rtquirem¢nts of lh¢ Aci wilh respec¢ to accouniin8 records and ihe preparation ofaccounts. These accounis have been prepared in accordartce wilh ¢he provisions appli¢able to companies subjeu io the small companies re8im¢. The fi D¢¢e l sia(¢menis on pages 6 10 14 were approved by the trustees, and auihorised for issue on 14 022 an signed on i behalf by: Mr ch￿les.1 oland Tnjsiee The ntstes on p4ge$ 8 to 14 forn) an iniegTal pan ofthese financial swements. Plge 7 OTme¥u Road Boxing Club Ltd Notes to the Financial Statements for the Year Ended 31 Mareh Z022 I Charlty status The chariry is limi¢ed by guafaniee, incorpofaied in Northern Ireland. and consequently does not have share capital. Each of the inJsiees is liable to Contribu￿ an amouni exceeding £1 towards the assets of ihe charity in lh¢ event of liquidation. The address of ils rt8iStered office is: 469 Omieau Road BELFAST BT73GR These financial staiemenis were authorised for issue by ihe truyees on 14 December 2022. 2 Aeeountlng policies Summary of significant 8r¢ountlllE policies and key ac¢ounting estilnAtes The principal accounling policies applied in ihe preparaiion of these financial siai¢ments are sei oui below. These policies haye been ronsimenily aM>lied to all the years presen1￿, unless otherwise Stated. Siaterntnt of complianee The fjnancial siattmen(s have been prepared in accordance wilh Accouniing and Reportin8 by ChaTilie5'. Siaiemeni of Recommended Praciic¢ applicgble io chariTLe5 preparing ihehr accounts in accordance wilh the Financral Reporting Standard applicable in Ihe UK and Rtpublic of Irel8nd (FRS 102) (effe£i&ve l January 2015) - Ichariiies SORP {FRS 1021). the Finantial Reporting Stsndard applitabk irh the UK and Republic of Ireland (FRS 1021. They also comply with ihe Companies Aci 2(M)6 Chariiies Aci 2011. Basis of prepgralion Onn¢au Road Bo.xing Club Lid me¢is the definilion of a public b¢Trrfii entity und¢r FRS 102. Asseis and liabili¢ie5 are inilially r¢tO8nised al hisiorical cosi or transaciiim value unless oiherwise wied in lh¢ TelewJni accounting policy noies. Goin8 concern The financial yaiemen15 have been prepared on a going concern basis. The rrusiee5 a5se$5 wheiher the us¢ of going concern is appropriate i.e. whether iherc are any maTeri&l uncertainiies Telaied EO events or eondiiioni ihat may casi si8nificani doubt on the ability of ihe charity 10 ontinue as a goin8 corKern. The trusiee5 make thi5 asses5meni in respec( of a period of one year from ihe dale oFapproval of ihe financi3151aiernenis. Eltmplion from preparing 4 Cash flow 5ts1eme*i rhe chariry opied 10 early adopi Bullelin I published on 2 Februjry 2016 and have therefore noi intluded a cash flow 5wemeni in these financial S￿leMents. Income and endowments All income 15 recognIs￿ onc¢ lh¢ charity has enritlemeor ro the income. it is pr¢)bable i￿￿ the income iyill b¢ received and ihe Omount of Ihe income receivable can bc measured reliably. P¥gt Ormeau Road Boxing Club Lld No1¢5 to the Financial Statements for the Year Ended 31 March 2022 Dowuiiolis lezvles Donaiions are recognised when the charity has been noiified IA I￿111n8 of both ihe am¢)unl and s¢ftlEffl¢nL dal¢. In Ihe evenr that a donation is subject to condilions ihai Tequire a level of perfom)ance by the chariry befor¢ (he charity 15 eniiiled io ihe fund5, the In¢off￿ 15 deferred and noi r¢cogni5¢d unlil either ihose ¢onditions are fully ei. or the fuifilmeni of those condiiions 15 wholly within ihe control of ihe thariiy and it is probable that ihese ¢ortdiiions will be ftsifLll¢d in Lhe r¢ponin8 period. Expendilyre All expendiiure is recognised ortce ihere is a legal or consm¥c(ive obligaiion io thai expenditure. li is probable selllemeDi is required and the amouni be measured rtliably. All are allocatcd io ihe applicable expendiiure heading thai a88re8aie similar costs to thai eategory. Where ¢0s1s cannoi be direcily •ttribuied lo panicular heading5 Ihey have b¢en all0￿￿d on a basi5 consL51eni wilh th¢ use of resource5, with ¢enwal sia cosis allo¢4ied on th¢ basis of time spent. and depre£iaiion Charges allocaied on the portion of ihe a&set's use. Other support ¢osis are allocaied ba5¢d on the spread of staff costs. Ch4rli#ble écliviiles Chariiable ¢xpendilur¢ comprises those costs irKurred by the charity in the delivery ofits activiii¢s and services for beneficiaries. li includes costs thai can be all0￿¢d dirtrily to such acliyilies and ihose costs of an indireci nawre necessary to support ihem. Suppor¢ Costs Support tosts inclllde centrdl functions and ha%* been alkncaied to aclivity COSI C8te8ories on a basts consis*nt with ihe use of resourtes. for example, a114xaiin8 property costs by fl(w Jrea5. or per capiia. Staff costs by ihe lim¢ 5P¢Rt and (thi by iheii u5ag¢. GoYern#n¢e ¢osts These include ihe costs aiiribuiable 10 the thariry's cornpli8nce wilh tonstiiuiional and yahrtory requiremenls, including audiL SIrnLe8ic rnanagemeni and tyusiees's meeiings and reimbursed expense5. Tax&i￿n The charity is con5id¢red io pass ihe iests sei oui in Paragraph I Schedule 6 of ihc FiDan¢e Aci 2010 and Iherefore il meets the definhtion of a charithble company for UK ¢orpor&tion tax wryjoses. Accordingly. the charity is poieniially exempi from iaxaiion in respect of income or capital gains received wiihin cai¢gories Covered by Chapier J Pan I l of ihE CorpoNion Tax Aci 2010 or Seciion 256 of ihe Taxation of Chargeabl¢ Gains Aci 1992. 10 the exteni thai such incorne or gairt% are applied exclusiwely to charithble pvrposes. Cash •Trd cash equiv8leDts Cash and cash equiwdlenis comprise cash on haThl and call dep)sits. and other short-iem) highly Ibquid inyesimenis thai are readily convertible io • known am(wni of cash and are subjeci io an insignificant risk of chartge in value. Page 9 OrThea# Road Boxing Club Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 Tr*de cYeditor5 Trdde ¢rediior5 are obligations io pjy for goods W 5ervice5 thai ha¥¢ been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the ¢harity doe5 noi haye an uncondirional righi, • ih¢ end of ihe reponing perityj. io defer settlcrnent of iht crediior for ai least iwelve monihs after the reporting dale. If there is an un¢ondilional righi io defer senlcrneni for ai leasi iw¢lve month5 afler the reporting dale, they ¥e presenied as rrf)rtrcurrent liabiliihe> Trade creditors are rffognised iniiially ai ihe tra1￿¢¢1￿￿ price 5ubsequenily rne&s￿red at amortised cosi using the etTeciiv¢ itheresi methtyl. Borrowints IniertM-bearin8 borrowings are inilially recorded at fair walue, net of iransaciion Costs. Intere5t-bearing bo￿owingS are wbs¢quen(ly cafrT¢d ar amonised cosr, wilh the diff¢rerte I￿tWeett the proceed5. net or tyan$aciion costs. and the amount due (KJ fedempiion being recognised as a charge to th¢ StatemeN of Financi31 Activiiies ovtr the period o( the relevant borrowing. (nletesi expense is recognised on the knis of the effedi¥e interest meih(xl And is intluded in interesi payable and similar charges. Borrowings ar¢ classified 0$ curreni liabililies un1¢5s ihe charity has an un¢oMdiiional right to defer selllemeni of Ihc liability for ai least tivelve months after the reporting dale. Fund $try¢ture Unresiriacd in¢omc funds are g¢nernl fimds ar¢ availabk for use at the trusiees's discretion in furtherance ofthe objectives of the ch¥iry. Restricted incom¢ funds are ihose donated foT iise in 8 Wticular area or for $pttlf￿ purposes ihe use of which 15 Tegiricied 10 lh￿ ¥ea or purpose. FiTr•n