THE HARMONY COTrtMUNITY TRUST
STATEMENT OF FLY￿￿CIAL ACTIVITIES
ncluding INCOME AND EXPENDITURE ACCOUNT)
For the year ended 31 March 2023
Restated
Unrestricted Restricted
Funds
Funds
Total
Funds
Total
Funds
2022
2023
INCOME FROM
Income from
generated funds
Volzinrary income
Donations and grants
Activiliayfor generatingfyp¥L¥
Fundraising
Note
37,830
1&323
56,153
41.958
673
673
718
38,503
18J23
56,826
42.676
lllcome frotn charitsble activitie5
Core GrJJ]ts
23.621
23,621
53,494
Programme activities
6.795
128,741
135536
116,756
6,795
151362
159,157
170,250
Totsl illeome
45298
170,685
215,983
212.926
EXPENDITIJRE ON
Cost of geD¢rgtiDg funds
Costs of generating volulltary
income
3.424
3,424
2.647
Charitable activities
99.581
164I62
264,443
198.175
Governance costs
4.600
4,61XI
4.600
Total expenditure
107,605
164,862
272.467
205.422
NET (EXPENSEYINCOME
FOR THE YEAR
(62J07)
5,823
{56,484)
7504
RECONCILIATION OF FUNDS
Totsl fi￿ds brought forward
383.125
34JOO
417,425
409,921
TOTAL FUNDS CARRIED
FORWARD
320,818
40.123
360,941
417,425
The ststemeDt of fmancial activities includes all gains and losses in the year. All income and expenditure derive
from continuing activities.

'rHE HARMONY COMMUNrrY TRtJST
BAIANC'F SHEET
Year EJHled 31 2023
R¢stAt¢d
2022
Nots
2023
FIXED AWTS
Tansibl¢ ¥￿ts
619.6J5
615.514
tkbtors
Cash at bank alld in hand
10
3Q570
215
59.154
19.922
79,076
CREDI'foRS: Amoullts fall1￿ wlthin one year
(55.341)
{J7.026)
NET CURRENT ASSllTW (LIABIL￿lEs}
(1&556)
42.050
NET A&SETS
13
601.0
657.564
REsfRicfED Fi3P4DS
14
40.123
34J(K)
UNRKSTRICTED Fuf4DS
R¢wslualion r¢s¢rY¢
￿¢￿TrI fun(Is
14
14
240.139
320.818
240,139
383,125
TOTAL iTUM>S
601.0
657564
￿e0￿￿ts Ik1￿ beenple￿￿1 tthocwT(tsoc¢ with priwision5 applicable to COllVOiCS 3ubjttl tothe
fIna￿la1 Staten￿l￿ weR Iw)roveAI by the Collr£tl &￿hOris￿ for release On(bAa￿lI 2Q24
Si£ne(l on beha]f of the COW￿11
Conl￿ttY Tggistsation nwnber. NIOI(kn39

THE HARMONY COMMUNITY TRUST
NOTES TO THE ACCOUNTS
Year Ended 31 March 2023
1.1 GOING CONCERN
The Trtm has recorded Net Outgoing Resources of £56.484 after depreciation of £2.908 duritLg the yeaT
ended 31 March 2023 and Net Current LiabiIities of £18,556 with net assets of £601.080 as at 31 M￿ch
2023.
Post year end cuts to the NI Executive's budget for Sup￿rting the work of the voluntary and communty
sector (a5 part of wider cuts to the NI budget) have resulted in the 1055 of over £IOOk funding for 2024,
using a Strai￿ on c&5h flow. As a r¢sult the decision w&8 taken to make ail staff posts at Glebe House
redundant at end September.
The Tn￿teeS bejieved that due to the above ¢iT¢uMS￿￿¢es there was a material uncertainty which rnay cast
doubt on the Trust's ability to continue as a goÈng concem alld therefore it might not be possible to realise
its assets and Iiabilities in the nonnal course of business.
To address these concerns and ensure thc 5U5taiTrability of the organisation the Trust is WOTking to a
Tecovery plan focused initially on S¢¢UTing the funding, from the stattLtory and quasi-statutory bodies who
have consistently fimded HCT in previous year5. With the restoration of the Nt Executive and Df the ￿1]
NI budget tbe Trust is biddillg into a le$5 austere f￿a] environment than t1￿ which obtsined in 2023124.
The plan aims to restOTe programme5 and recruit incrementally the necessary staff. The plan also includes
the promotion of Glebe Ho￿e &5 a residential and aclTvity venue to external organisations to generats
income. and the estsblishment of a Social enterprise. In the meautime, the Trust Continues to operats
delivering prryrammes run by volunteers and outgoings are reduced to a minimum while some of the
Trust's Lssets are realise(L We have completed the sale of a piece of our land wbickL is Ull￿ed fDr £90,000,
the receipt of which has cleaTed our overdraft. The Tnjst is considering fi￿ber sales of unused assets with
the intention when th¢5¢ are complete to retain a site of approxiEnately 8.5 acres including the residential
¢entre, offic&8. meeting rootDS and a conference faciltty and with cash Teserve5 to support a robust cash
pn.qition. The current progrdmmes are being provided supported by volwiteers and only to the extent that
funding is available or that each progTatnme is self-fllwicing. As funding coTres on stream again the Th
is now in a posltion to make app]ications to enable operattons to be resumed to rebuild our activities only
within the available resource, and to date we have submitted appltcations totallNng £140,000 and are
preparing further applications which the Trwthas set out in a targeted fundraising schedule. The directors
are confident that the Trust's operations will continue to be managed to enable it to operate for the
foreseeable future within the resources available to it.
Accordingly the directors are of the finD view that it is appropriatr to prepare these fllmncial statements
on the going concern basis, which assumes that the ¢ompany w'ill continue in operational existence for at
least 12 months frorn the date of signing the fJnanciaI state￿ellts.
1.2 ACCOUIYFING POIJCIES
The principal accounting wilicies adopted are descnbed ￿lOw.
asis ofpreparing the fmaneial ststements
The fmancid statements of this public benefit entity have been prepared ID accordance with Accounting
and Reporting by Charities: Statement of R¢¢omrnended Practice applicable to d￿ritieS preparing their
accounts in accordance with tbe Financial Reporting Standard applicable in the UK and the Republic of
treland (FRS 102) (effective ISL January 2016) - (Charities SORP (FRS 102). tbe Financial Reporting
Standard applicable in the UK and the Republic of Ireland (FRS 102) and tbe Companies Act 2006.
Fund accounting
Unrestricted fimds are available for use at the dis¢retion of the tTh￿teeS in fjjrtherance of the general
objectives ofthe charity. Restricted funds are subjected to restricttOD5 ontheir expcnditure imposed by the
donor or terms of an appeaI.
13

THE HARMONY COMMUNITY TRUST
NOTES TO THE ACCOUNTS
Year Ended 31 March 2023
ACCOUNTtNG POMCIES (continue
Illeomillg r￿0￿ree$
All incoming resources included ID the statement of financiaI activities when the charity is entitled to
the income and rh¢ aTrount Can be quantified with reasonable accuracy. The following specific poltcies
e applied in particular categories of income:
Voluntary income is Teceived by way of grants. donations and gifts and is included in full in the statement
of fmancial activities when receivable. Grants. where entLtlement is not conditional on the delivery of a
specific perforniance by the charity, are recognised when the chaTity become5 unconditionally entitIed to
the granL
Donated services and facilities aTe included at the value to the charity where this can be quautifie¢l The
value of service by volunteer5 has not been included in these accounts.
Resources expended
Expenditure is recogllised on an accrual basis as a liability is Incurr￿ ExpendIt(￿e includes VAT reported
as part of expenditUTe to which it relates. Cost of generating fullds compTi5es the c05ts associated with
attracting voluntary income. Charitable expendÉrure comprises those costs incuThed by the charity in the
delivery of tL8 activittes and servtces for its beneficiaries. It includes Ex)th costs tbat cau be a5so¢iated
directty to such activities 8tkd those costs of an iDdirect nature necessary to support them.
Governance costs include those costs &ssociatedwtth meeting the conSti￿tional and statutory requirements
of the clmrity and in¢lude tb¢ audit fees and costs IiDked to the strategic management of the chartty.
All costs are allocated between the expenditure categories of the SOFA on a b&8is designed to reflect the
use of the resource. Costs relattng to a particulaT activity are allocated directly. others are apportioned on
an appropriat¢ basis ¢.g. floor area4 per capila or estinmted ￿age as set out in note 4.
Tangible r￿ed assets
Tangible fixed assets are started at cost or V8h￿tIon. Det of depreciation and any provisiotl for
impairment
Depreciation is provided on all fixed &sseL% calculated to write off cost or valuation. less estimated
Tesidual value, witELin thetr useful lives. The methods adopted and the rates used ar¢:_
Buildings on freehold land
2Yts straigELt ]ine
Motor vebicles
250/0 on reducing balance
Fixtures, fittings and equipment
I￿/4 Strnight line
b)
Rev21uation of properties
There were & cballge in accounting policy in the yeaT to to record land and buildings at fair value ratber
thau cost a5 was previously done. A prior year adjustment has been posted to the fthancial Statements as
explained in the note to the accounts &8 is required when there is a a change in an entity's accounting
policies. Freehold propertie5 are revalued every year with the surplus or deficit on book val¢ transf¢Tred
to the revalualion reserve, exceptthat a deficit in excess of a previoustyrecogni5ed surplus over depreciated
cost is charged to the income and expenditure account.
here depreciation charges are inCre￿d following a revaluation, an amount equal to the increase is
transferred amlually from the revaluation Teserve to the income and expenditure account &$ a movement
on reserves. On disposal any Telatsd balance remaining in the reserv¢ is similaTly transferred to income
and expendibjre account.
Debtors
Trade and Oth￿ debtor5 are recognised at the settlement amount due afteT any trdde discount offered.
Prepayments valued at the amount PTepaid net of any trade discounts due.
14

THE HARMONY com￿([[￿ITy TRUST
NOTES TO THE ACCOUNfs (CONTINUED)
Year Ended 31 March 2023
ACCOUThNG POLICIES (eontillued)
Creditors
Creditors and provi5iODS are recognised where the charity has a present obligation resulting fron) a p&st
event that will probabty reslllt in the traDsfer of fumds to a third party and the atnount due to settle the
obligation can be measured or &stimated reliably. CTeditOT5 are norrnally reco￿lIs¢d at their settlement
aTllount after allowing for any trade discounts due.
Financial Instru￿ettts
The company only has fina]]cial a55ets and fjnancial liabilitses of a kind that qualify a5 basic fmancial
in5trumerAts. Basic fmancial instruments are initsally recognised at transaction v&lue and subsequently
measured at their settlement value.
Pellsions
Retirernent benefits to employees of the Tnjst are provided by a defined contribution pension scheme.
whereby the assets of the schemc are held separdtely from tbose of the Trust in an ind¢p¢DdeDtIy
admillister¢d fimd. The TDJStcontributions are accounted for by charging costs against income as payments
accrue.
Judgements and key sourtes ofestimation uncertainty
The following judgements including estirnate5 have been made in the process of applying the abovc
accounting policies that have had the most sigllificant effect on the amounts recognised in the f]nancial
statements and that have a significant risk of causing a material adjustment to the carying amounts of
agset5 and liabilities within the next fitLallcial year:
(i)
(Li)
(Ill)
Depreciation tnethod and asset useful lives
Valuation of properties
Impairment of assets
The estirnates alkd assumptions are review￿ on an ongoiDg basis considering th¢ current and ￿tUre market
Conditions.
15

THE HAKMONY COMMuNrrY TRUST
'OTES TO THE Accouwfs (CONTINUED)
Year Ended 31 March 2023
DONATIONS
Unrestricted general donations. grants 2nd Open Day DollatiOll5 of £100 or over were received
during the year from:_
V Adaros
Dr M Boyle
J PuIha
K McKinty
Lions
100 Paul Thompson
100 M Fitzpatrick
194 K Cluney
120 The Rotary Club of Belfast
500 Power Nl
5,OCQ Belfast H2Tbour
5.000 VSB Foundation
720
loo
200
1,000
1.600
2,000
8.000
B&Q
ANF Communty Foundatton
Restrieted donations have been received in respect of programme 2¢tivity from:_
Executive Office- Good Relations
DOH Family Policy Directorate
Community Foundation
Newry & Moume District Coun¢il
Arts Council NI
90,0￿ Co-op Alterntives
23,621 Clear project
13.064 DepaTtJnent of tnfrastrucbjre
4,658 Public Health Agency (Clear)
3.871 Bryson House
2.500
7.775
7.293
7.944
2,100
In tkefinLThcialstatém¢nts these amounts ore a4xstedforopening andclosing acmied& deferTedincome.
16

THE HAILMONY COMMLThITY TRUST
NOTES TO TIIE ACCOUNTS (CONTINUED)
Year Ended 31 March 2023
tNCOME FROM A￿1VITIEs TO FURThIR THE CHARITY'S
OWECTS include
Restated
2022
Tot21
2023
Total
Unrestricted
R&ricted
Grants and contracts..
Departtnent of Health FPD
Communities Fund
23.621
23,621
23,621
29.873
23,621
23,621
53.494
Programme related..
The Exe¢utiv¢ OtTi¢e- Centra] Good Relations
Executive Office TBUC
Departtnent of For¢ign Affai￿ (ROI)
PHA CLEAR
Arts Coullcil NI Arts for Older Pe¢)ple Project
Newry. Mourne & Down District Council
Community Foundation
ANF Community Foundation
Community Relations Council
Bryson House- Ukraioe
Various
90.000
90.0
90,000
8,000
11219
7.775
4.301
6,458
3.988
5,0
11219
7.775
4,301
6.458
3,988
5.000
10,612
500
2,100
4.695
2,100
4,695
A795
128,741
135536
116,756
TOTAL EXPEND￿1)RE
Unrestricted
Voluntary
Income
Unrestricted
Restricted Unrestrieted
Charithble Activitif
Goverllallce 2023
Total
Reststed
2022
Total
Costs direetly allocate
to activities:
Staff & related costs Direct
Prograrnme costs
Direct
Establishment Costs
Direct
Insurance
Direct
Depreciation
DiTeGt
Audit fees
DiTe¢t
Fundraising
Direct
Support costs
alloc2ted to activities:
Staff & Telatcd costs
Finan¢e
Administsation costs
52,165
(669)
22,090
8,900
2208
117,688
35.844
5.809
3,600
700
169,8S3 126,896
35,175
30.733
27,899
10,099
12,5(KJ
12.775
2.908
5.010
3,6(M)
3,600
624
159
3.600
624
Tittle
Usage
Usage
2,000
7.000
154
7,733
1,000
Jo,000
154
9,754
i 0,000
75
8,225
800
1221
3,424
99.581
164.862
4,6(Kl
272,467 205,422
17

THE HARMONY COlk[￿[u￿ TRLST
NOTES TO THE AccouNfs (CONTINUED)
Year Ended 31 March 2023
NET INCOl￿[NG RESOURCFS FOR THE YEAR
R&stated
2022
2023
This i3 Stated after charging:
DeprecTation
Auditor's remuneratio￿ inc vat- CUTrent year
2,908
3.600
4,833
3,600
STAFF COSTS AND COUNCIL
2023
2022
Average number of persons employed
The average number of people employed by the Tn￿t (excluding
tempordry Staffj w&s:
Restated
2022
2023
Siaff Costs during the year
Wages and salaries
Social security costs
Pension ¢osts
154.568
8.866
7,958
118,656
5.241
4,175
171,392
128,072
2023
2D22
Remuneration received by key nwiagement personnel was as follows:
48.321
36,761
No employ¢e5 receive emoluments in excess of £60,000. Coullcil members do not receive any
remuoeration for their services. nor are they interested in any traDsa¢tions of the TrusL There were no
transactions with related parties during the year requiTing disclosure.
INTEREST PAYABLE
Restattd
2022
2023
Bank loaDs and overdrafts
154
75
18

THE HARMONY COMl¥tLThITY TRUST
NOTES TO'I'HE ACCOUNTS (coNT￿NUED)
Year Ended 31 March 2023
TAXATION
Th¢ ¢ompany has tax4xempt status with HM Revenue & Customs as a charity registered by the Charity
Commission for Northern IreIand.
TANGIBLE FIXED ASSETS
Freehold
Land and
Buildings
Fitting
Tools &
Equipment
Motor
Vehicles
Total
Cost or valuation
Restated
At l April 2022
Additions
600.000
9,OIKJ
155,776
7.030
764,776
7,030
At 31 March 2023
600.600
9,IKIO
16U06
771.806
Ae¢umulated
Depreciation
RestaÉed
At l April 2022
Charge in year
2,250
1.688
147,012
1.220
149.262
2,908
At 31 M2rcb 2023
3.938
148232
IS2,170
Net bookvalue
At 31 March 2023
600,00
5.062
14J74
619,636
At 31 March 2022
(Restated)
600,000
6,750
8,763
615,513
Freehold property was professionally valued during the year on an open market value basis at£600,000 by
Alexander. Reid & Frdzer, CkLartered Surveyors.
The propeTty at Glebe House. Kilclief. Co Down is subject to a registered all monies mortgage held by the
Trust's bankers.
io.
DEBTORS
Restated
2022
2023
(all due within one year)
Trade debtors
(Trher debtors
Prepayments aud accrned income
400
29,552
6,618
2lO
54.724
4220
36,570
59,154
19

THE HARMOYY CO,NJIVAUNryTY TRDST
NOTES TO THE AccouNfs (CONI'IIYUED)
Year Ended 31 March 2023
ii.
CREDITORS: AMOUNTS FALLING DUE WllTH￿ ONE YEAR
Reststed
2022
2023
Bank overdraft (se¢ured upon the Kilclief property- note 9)
Trade creditors
Taxes and social secuTity
ACCn￿]$ aud defe￿ed income
18,066
14,155
3,331
19.789
1238
3,080
32,708
55.341
37,026
12.
ANALYSIS OF NET ASSETS BETWEEN FUIYDS - Restated
General
Fund$
Restricted
Funds
Total
Fund5
Tangible fjxed ￿ets
Current &5sets
Creditors & ac¢ruab
579.513
36.785
40,123
619.636
36,785
Net assets
560.957
40,123
601,080
13.
MOVEMENTS IN FUI¥DS
At l April
2022
tucoming
resources
(￿tgoing
resource5
At 31 MaTch
2023
Re5tatrdl
Restricted funds
34JIN)
170.685
(164.862)
40.123
Unrestricted funds
Revaluation Teserve
GeneraI fL￿dS
240,139
383.125
240.139
320,818
45.298
(107.605)
657
272,46
14.
LEGAL STAThS & GUARANTEE
The Hannony Community Tnjst 15 a company limited by guarontee. not having a skn capital.Every
member of the TTu51 undertakes Io CODtrbL Ute to the assets of the TnJ5t in the eveDt of the same being
wound up whiIe he is a member. OT within one year after he ceased to be a member, for paytnent of the
debts and liabilities of the Trust contrdcted before he ceased to be a member, and of the costs. charges
and expenses ofwinding up, a)d fordLe adjustment of the rights of its contributorie5 amongst thcmselv¢s,
such amount as may be required not exceeding one poull(L
15.
PRIOR YEAR A])JUSTKEKf- eh2Dge in accounting policy
During the current year the Trustees chatLged the accounting policy for ￿cOunting foT18nd and buildings
from cost model to revaluation model. They believe the chauge results in the financial statements providing
reliable and more relevant inforrnatiou about the entity's financial position. The effect of this was to increase
the assets balancc at l ApriI 2022 by £240.139 which h&% beeu included in the revaluation reserve. Ther¢
was no depr¢¢iation charge requiTed on the a&set in the prioryear therefore the SULpIu5 increased by £12.719
in the STatement of Financial Activities for the year ended 31 March 2022 with the same impact on the
BalatLce Sheet.
20