THE HARMONY COMMUNITY TRUST STATEMENT OF FINANCIAL ACTIVITIES (Including INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 March 2024 IrDrestri¢ted Tr-unds 2024 Restri¢ted 'unds Total unds Total Tr-unds 2023 2024 2024 IN(:OTrIE FROM In£ome from generated funds frolunian, income Donations and grants Activitie.f lor generlltingftlnd Fundraising B*ote 24.726 24.726 56.153 5543 5.)43 673 30.269 30269 56.826 Incom¢ from charitable 4rtii'ities C'ore Granis i i.ooi 23.621 Programmc activitics 4,600 40J80 135.ii6 4.600 46.781 51.381 159.157 Gain on disposal of assels 2,839 2,839 Tot31 income 37.708 46.781 84.489 215,983 EXPENDITLRE ON c.ost of generating funds Costs of generating ￿OluntarY income 2,407 2,407 3.424 Charitable actil'ities 164.877 264.443 Govcrnancc ￿sts 4,600 4.600 Total expenditure 126.551 171,884 272,467 NE"[ (LXPENSEVINCOIIE FOR THE I"E.4R {88,843) 1.448 187J95) (56.484) RECONCILIATION OF FiINDS Toial funds bn)ught foN'ard 320.818 40.123 36(1941 417,425 Transfer from revaluation reserl'e 87,(KM) 87,000 TOTAL FI[￿Ds C.4RRIED FORIV.4RD 318.975 41571 3611,546 360,941 The siatement of financial activities incliides all gains and losses in the >"ear. All income and expendilure derive froTn continuing actiN'ities. 10 THE HARMONY COMMUNITY TRUST BALALNCE SHEET Year Ended 31 March 2024 2024 2023 FIXED ASSETS "I"angible assets 516.273 619,635 CIIRRENT ASSETS Dcbtors Cash at bank and in hand 10 14.631 16.971 36.)70 215 31.602 36.785 CRF.DITORS: amounts f4lling dut T•'i¢hin ODe l'ear (34.190) 155.341) NET CIIRRENT.4SSETSI {LIABILITIES) (2.588} {18.556) NET ASSETS ilJ.685 601,080 RF.STRIC.TF.D FIINDS 14 41571 40.12i IINRF.STRICTF.D FIIPIDS Re￿.a]uatIOn reSe￿'t General funds 14 14 li3.139 J18.975 240.139 320.818 TOT.4L FIINDS 5 lJ.685 601,080 These accounts have been prepared in accordance wilh the provisions applicable to companies subject to the small cornpanies regirne. Thcsc financial statcmcnts ii'crc approi-cd bi. th¢ Council and authoriscd for rclcasc on 2011212024 Signed on behalf of the Council eamus eamus , 2024 11..09 GMT) airnian 1550n David S Boyd (Dec 20: 024 15..04 GNITI Davids Bo}'d- Honorary 'l"reasurer Cornpan!. registrdtion number.. NIO10639 THE HARMONY COMMUNITY TRUST NOTES TO THE ACCOUNTS Year Ended 31 March 2024 GOING CONCERN The Trust has recorded Nei Outgoing Resources of £87.395 after depreciation of £12.366 during the year ended i l March 2024. {ii"hich is reduced and offset bj the receipt of £87.6i5 from the sale ol. landl. and has Net Curreni Liabililies of £2.588 i%ith nei asseB of£513.685 as ai 31 March 2024. Culs to the Nl Executii'e budget in 202J for supporting the iiork ol- the N'oluntth. and communit) sector las part of ii'ider cu(s to ihe Nl budge(I resulted in ihe loss of oi'er £1 Ook funding for 202312024. causing a strain on cash floiv. As a rLsult thc dccision li.as tak-cn io mak-c all siaff posts ai Glcbc Hous¢ rcdundant at end September 2023. -1-0 ensure the susiainabilili" of the organisation Me eniered a period where programmes have been redU￿d ￿ those run b!. I'olun￿erS and outgoings are reduced to a minimum ￿hlIe some ol. our assets are reali.8ed. Further sales of unused LsseLs are being i11￿esti￿attd ii'ith the intention iihen ihese are complete (o relain a site of approlimateli 8 acres iogether iiiih a residential cen(re. offices. Tncciing rooms and a confcr¢nc¥ facilih" Ivith cash rL￿¢r1"¢s to supth)n a robust cash position. In the interim programmes have been proi'ided supponed bi, Nolunieers and onli to ihe extent that funding is a￿'allable. Il'e hai"e been heartened bi" the po8itii-e response trom ￿nderS and are pleL%ed to report that some grant funding has been re-established ivhich h&% enabled us to appoinl sialT and to reeommence a youth prograTnmc. Applications ii.ill ¢oniinuc to bc madc to cnablc opcrations to bc rcsumcd morc fully over the period and to rebuild our actii"ities onl! i%"ithin the a￿ailable resource. The directors haTre al.80 placed apart of our property. included in these accounts at a i-aluation of £150,000, on the open marke( for sale ii.hich ii.ill generaie sionificant resmes and. together M'ith the planned programmes. the directors are of the fimi i'ieii" thai ii is appropriate to prepare (he accounts on the going conccrn basis which assumcs that thc Compan)" m.ill continuc in op¢rational cxistcncc for al Icast 12 months from the signing of the linancial staternents. ACCOI P*"fiNG POLICIES The principal accounting policies adopted described beloM". Basis of prepartng the financial staternents 'I'he Iinancial statements of ihis public benefii eniili" haie been prepared in accordance ivith Accounting and Rew)rting b!. Chariiies= Siatement of Recommended Practice applicable io charities preparing their ccount5 in accordance w ith the Financial Reporting Standard 41ppIic41ble in the UK and the Republic of Jreland {FRS 1021 leffec(ii'e ISI Januat?. 20161- {Chariiies SORP IFRS 1021. the Financial Reporting Standard applicablc in thc UK and thc Rcpublic of Ircland IfRS 1021 and thc Componics Act 2006. Fund accounting Unrcslricicd tunds arc ai"ailablc for usc at thc discr¢tion of thc trllstccs in furthcrwicc of th¢ gcncral objectives of the charit)-. Restricted funds are subjecied io resiric(ions on their eipendiwre imposed bi. the donor or tcrnis of an appcal. Incoming reSoU￿t$ All incoming rcsourccs arc includcd in thc staicmcnt of financial act]￿ltI¢5 ￿"h¢JI thc charity is cntitlcd to the income and the amount can be quantified ivith re&sonable accurdci.. 'l-he folloiving specific policies are applied in particular ca(egories of income= Volunim. income is receii'ed b!" ii"ai' of grants. donations and gifts and is included in full in the statement of financial activities iihen receii able. Grants. M"here eniitlemeni is not conditional on the deliweTh' of a specilic perforniance bj. the charit)". are recognised ivhen the charits. becomes unconditionally entitled to the grant. Donated services and lacilities are included at the i.alue to the charits. H"here thi5 can be quantified. The value of service bi, volunteers has not been included in these accounts. 12 THE HARMONY COMMUNITY TRUST NOTES TO THE ACCOUNTS (CO]YTINUED) Year Ended 31 March 2024 -4CC.01-NTING POI.IC.IF.S (con¢inued) Resources eAPtndtd Expenditure is recogni5ed on an accrual basis as a liabilit)- is incurred. Expenditure includes VAT reported as part of expendilure io I￿.￿llh il relaies. Cosi of generaiing funds comprises ihe costs associaled wilh attracting iolunim. income. Cliaritsble expenditure comprises those costs incurred by the ch￿1t￿ in the deliN'er¥' of its attivilies and serl'ices for its beneliciaries. li includes both costs that can be associated direcil). to such actii ities and those costs of an indirect nature necessat) lo support them. GoTr'ernance costs include those cosls associaied ilith meeiing ihe constilulional and Sthiutory. requirements of the charl￿. and include the audit fees and costs linked io the siraiegic managemeni of the charity. All costs are allocated betsi'een the elpenditure caiegories of Ihe SOFA on a basis designed io reflect the usc of thL rcsourcc. Costs rclating to a particular a¢tii"its" arc allocatcd dircctl!.. oth¢rs arc apportioncd on an appropriate basis e.g. floor area5. t￿r capita or e5titnated usage as set out in note 4. Tangible fixed assets 'I'angible fixed assets are siarted ai cosi or I'aluaiion. nei ol deprecialion and an) provision for impairnicnL Depreciatlon Is provided on all fixed a5set& calculated to write off cost or valuation: less estimated residilal % alue. within their usefiLI liwes.'1l)e methods adopied and the rales used are... Buildin&% on Ireehold land 2 /0 strai£ht line Motor i ehicles 25/0 on reducing balance Fixtures. fittings and equipment IOQ/o straight line bl ReTr'aluation of properties F.rcchold Pro￿rtieS arc carricd at rci"alucd amount ii-iih thc surplus or d¢fi¢ii on book i'aluc transfcrrcd to the revaluation reseTh'e. except that a deficit in eicess ol'a prei"iousl}" recounised surplus oN'er depreciated cost is eharged 10 (he intome and expenditure accouni. 'h¢rc dcprcciation ¢hargcs arc in¢rcascd folloii.ing a rci'aluation. an amount Cqual to thc incrcasc is tranSfe￿¢d annu£illN' trotn the rei"aluation e to the incotne 4md expenditure aLLOUnt as a ￿0ve￿ent on resen'es. On disposal any rela(ed balance remaining in the reserne is similarly transferred to income and expendithre account. Debtors Tr,Ide dnd other debtor5 are trcognised at the settletnent amount due after an!, trade discount offered. Prepa)'ments are i'alued ai the amouni prepaid nei of ani. Irade discounts due. Creditors Creditors and provisions are recognised M'here ihe chariti. has a present obligation resulting from a past cN'cnt that m.ill probablv ￿sU[l in thc transf¢r of funds to a third party. and thc amow]t duc to scttlc thc obligaiion can be measured or esiima(ed reliabl).. Crediiors are norniall}' recognised at their settlemen( amount aftcr alloiving for an). tradc discounrs duc. Financial Instruments Thc company only has financial asscts and financial liabiliti¢s of a kind thal qualifv a5 basic financial insirumentg. Basic financial instruments are iniliall!" ￿cOgniSed ￿ transathion value and subsequenil) Tncasurcd at thcir scttlcfflcnt Tr"aluc_ Ptnsions Retirement benefits to employees of the Trull are provided bi. a defined contribution pension scheme. .herebN' the assets ol. the scheme are held separatel!" from those of the Trust in 3n independentl) adminisiered fund. The Ttust conlribuiions are accounied for bi. charging cosrs againsi income as pai'ments accruc. 13 THE HARMONY COMMUNITY TRUST NOTES TO THE ACCOUNTS (CO]YTINUED) Year Ended 31 March 2024 -4CC.01-NTING POI.IC.IF.S (con¢inued) Judgements and ke). sources ofes¢imation untertaiTrtv lThe follo¥ving judgements irtcluding esiimaies have been made in the process of applying the above accouniing policies that haN'e liad the most significani effect on the amounts recognised in the financial siaiements and that haie a signilicant tisk of causing a Ma￿rial adjustsnent io ihe eatrying amounts or assets and liabilities ivithin the neil financial i'ear.. D¢prcciation mcthod and assct uscfvl liv( Valilation of prowies Impairment of assets The estimates and assumptions are rei"iuved on an ongoing basis considering the current a]Id ￿tllre market conditions. DON.4TiofiS Ilnrestricted geDerJl doDatioDs grjnts and Open Da!. Donations of £IIMI or over were receii'ed during the vear from:. M Den%'ir Dr M Boyle J Pulham K MeKinry' D Cookc Ardbarron Trust Asda 130 Paul"ll)ompson 100 M Campbell 144 S Camplisson 120 D Vaughan 866 Mrs Joan Magill 500 The RotaD" club of Beltast 400 120 100 230 I.tKJo iOO S.[￿0 Restricted doDatioD5 bave beell receti.ed respect Df pn)grdmrne actii'ity frotTr:. C'ommunity Relalions Council DOH Famill. Polici Directorate The Executil'e Office (iood RelatiOllS Nem'n. & Moume District Council Arts Council Nl 15.576 The Ireland Fund -￿1 Clear project 14.841 Departtnent of Infi35trllctu I.8￿ BTh'son House 229 4,994 5,)55 990 4.6(M) Jn iliefinL7neiolsiaiemenis ihese amounts are adjusiedlor openirtgondclosingaccrued& deferredincome. 14 THE HARMONY COMMUNITY TRUST NOTES TO THE ACCOUNTS (CO]YTINUED) Year Ended 31 March 2024 INCOME FRONI ACTII'ITIES TO FI"RTHER THE CH.4RITI S OBJF.CTS includc 2024 Total 2023 Total l."Drestrifted Rutricted Gr#nts and eontrnets". Dcpartmcni of Hcalth FPD I 1.001 I 1.001 23.621 i i.ooi 23,621 Programrne related.. Thc r.xccutii'L Officc- Ccnlral Good Rclations Departmeni of Foreign AtTairs IROII PHA CLEAR 90.000 11.219 7,775 4,301 6.458 3.740 5.000 3.740 5.000 ArLs Council Nl Arts for Older People Project Ne￿￿T),. Mourne & Dowi Disrrict Council Communiii. Foundation DAEIL4 ANF Communiti Foundation CoTnmunits. Relation% Council Brvson House- Ukraine Various 605 i.820 605 5.820 3,988 5,000 l i,576 15.576 4.600 4.600 2.100 4,69) 40J80 13i.536 TOT.4L ElPE￿DIT1"RE Basis Ilnrestrieted -oluntan- Income I"nresiricitd Restricted I"nrestrieted Charitable Actii'ities GoTr'ernance 21124 Total 2023 Total c.osls directly allof4ted to actii"ities- Staff & related costs Programme costs E"siablishment costs Insurance Deprecidtio Audit fees F.undraising Support eosts allocated to a¢tiTrities: Stdff & related costs Finance Administration costs Direct Direct Direcl Direct Direct Direct Dircct 54.039 4.792 18.)26 li.8)2 11.014 28.578 14.279 5(K) 500 82.617 169,853 19,071 35.175 19,026 27.899 16.332 12.500 12,366 2,908 3.600 3.600 624 3.600 Titne Usage Usage 2.000 1.000 10,000 3.918 4.954 10,000 154 9.754 i.918 4.423 407 124 2.407 I19.￿￿ 4.6110 171.884 272.467 15 THE HARMONY COMMUNITY TRUST NOTES TO THE ACCOUNTS (CO]YTINUED) Year Ended 31 March 2024 ET INcoiiifiG RF.SOI'RCF.S FOR THF. I'E.AR 2024 2023 -rhis is stated A)fter cbarging- Dcprcciation Auditor s remuneraiion, inc I'ai- curreni i.ear 12,366 3.600 2.908 3.6(KJ ST.4FF COSTS .4ND coifp*CIL 2024 2023 Average number of persons emplDv¢d 'Ihe a%'erage number of people employed by the"I'rusl (excluding temporarj. stall) ii"as: 2024 2D23 Staff fosts during the vear W'ages and salaries Social sccurits. costs Pension Lo&ts' 70.095 i.851 4.499 154.568 8.866 7,9)8 80.445 171.J92 2024 2D23 Remunerdtion recei￿.ed bi, ke!. management wnnel ivas as follows: 24.650 48.321 No emploi'ees receive emoluments in exLYSS of £60.IN)O. Council members do not receive an!. rcrnuncration for thcir scTh'iccs. nor arc thc!" inlcrcstcd in an}, transactions of thc Trust. Thcrc wcrc no transactions with related partie5 durinE the l.ear requiring disclosure. INTF.RF.ST PAI".4BI.F. 2024 2023 Bank loans and overdrafts 3.918 154 16 THE HARMONY COMMUNITY TRUST NOTES TO THE ACCOUNTS (CO]YTINUED) Year Ended 31 March 2024 TAXATION The companN' has tax•exempt status ivith HM Rei'enue & Customs as a charity registered by the Charity Comrnission for Northern Ireland. T.4NGIBLE FIXED.4SSETS FYtthDld I.and and Buildittgs Fittin2S Tools & Equipment Ilotor I'tbieles -l-&tal Cost or i'aluatio At l April 2023 Additions Disposals 600.000 162.805 2.800 771.805 2.800 (99.(M)01 {￿.000) (9.000) -4t 31 illarch 2024 510.OIM 1&5,605 675,605 Accumlllated Depreciatio Ai l April 2023 Disposal Charge in )'ear 3.937 li.20il 1.266 148.232 152.169 {i.20i) 9.OtK) 2.1 At 31 ￿[arch 21124 9,000 150J32 159,332 Net book value At 31 ￿larCh 2024 S01.IMM 15,273 516.273 Ai 31 March 2023 6{￿.000 5.062 14.574 619,636 Freehold property. M'as professionall!- i'alued during 2023 on an oren market value basis at bv Alexander, Rcid & F.ra7£r, Chartcrcd Sun'cl'ors. The property at Glebe House. Kilclief. Co Do￿￿ is subject to a regis(ered all monies mortgage held bv the Tn]st's bankcrs. Thcrc is no dcbt subjcd to thi5. 10. DF.BTORS 2024 2023 (all duc w'ithin onc ycar) Tradc dcbtors Othcr dcbiors Prepa)menls and accrned income 400 29,5)2 6.618 9.908 4.723 14.6_- 36.)70 17 THE HARMONY COMMUNITY TRUST ii. CREDITORS: .4NIOI"NTS FALLING DI"E II'ITHIN ONE I"EAR. 2024 2023 Bank oi'erdraft (secured upon the Kilclief pn)pert￿ - noie 91 l.oan Trade creditors Taxes and social security .4ccrnals and deferred incotne 18.066 10.IMM) 14,155 3.331 19.789 914 8.452 34,190 i).341 12. ANALI'SIS OF NET ASSETS BETIVEEN FI"NDS enernl Funds Re5trieted Funds Funds Tangiblc ftxcd asscts Current assets Creditors & accrnals 474.702 31.602 134.190} 41.)71 516.273 31,602 lJ4.1901 riet 355et5 472.114 41,571 513.685 13. Mol'EI￿lL￿Ts IP* FL'NDS Incoming resources Ouigoing Transfers Atil March April 2023 2024 Restri