Inter-Ethnic Forum (Mid And East Antrim) Statement of Financial Activities for the Year Ended 31 March 2024 ncluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrieted fund5 Restricted funds Total 2024 Note Income and Endowments from: Donations and legacies Charitable activities 89.657 5,752 68.210 157.867 5,752 Total income 95.409 68,210 163,619 Expenditure on: Charitable activities 91.146 68,210 159.35 Total expenditure (91.1 (68,210) (159,356) Net income 4,263 4,263 Net movement in funds 4,263 4,263 Reconciliation of funds Total funds brought forward 90.998 90,998 Total funds carrioj forward 14 95,261 Unrestricted funds 95,261 Total 2023 Restrict fund5 Note Income alld Endowm¢ots from: Donations and legacies Charitable activities 89,062 4.994 59.805 148,867 4,994 Total income 94,056 59,805 153,861 Expenditure on: Charitable activitie5 (79.394) (59,805 {139,199 Total expenditure 79.394 59,805 139,199 Net income 14.662 14,662 Net movement in funds 14,662 14,662 Recollciliation of funds Total fvnds brought forward 76,336 76,336 Total funds carriol forward 14 90.998 90.998 All of the charitys activities derive from continuing operations during the above two period& The funds breakdown for 2023 is shown in note 14. The notes on pages 9 to 16 forni an intr1 part of these financial statements. Page 7
Inter-Ethnic Fornm (Mid And East Antrim) (Registration number: N1067175) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed as$ets Tangible assets io 521 695 Curr¢nt a&qets Debtors Cash at bank and in hand li 12 60.040 42,457 33,157 58,767 102,497 91,924 Creditors: Amounts falling du¢ Nvithin one year 13 7,75 1.621 Iyet current assets 94,740 90,303 Net assets 95,261 90,998 Funds of the charity: Unr¢stricted income funds Unrestricted funds 95,261 90,998 Total fund5 14 95,261 90,998 For the financial year ending 31 March 2024 the charity w&s entitled to exetnption from audit unda section 477 of the Companies Act 2006 relating to small companie5. Directors, responsibilitie5: The member5 have not required the charity to obtsin an audit of its accounts for the year in question in accordance with lon 476; and The directors acknowledge their rosponsibilities for complying with the requirements of the Act with respect to accounting records and the preparatim of accounts. The financial statements on pages 7 to 16 we approved by the trustee4 and authorised for issue on 28 November 2024 and signed on their behalfby: Dorothy Jones Trustee The notes on pages 9 to 16 fonn an inte1 part of these financial ststements. Page 8
Inter-Ethni¢ Forum (Mid And East Antrim) Notes to the Financial Statements for the Year Ended 31 March 2024 I Charity status The charity is limituj by guarante4 incorporat&l in Northern Irelanl and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its register office is: 20 William Street Ballymena Co Antrim BT42 IED These financial statements were authoriwj for issue by th¢tte¢S on 28 November 2024. 2 Accounting policies Sllmnry of signifiegnt aecounting policies 2nd key accounting estimates The principal accountin8 policies applied in the preparatiLn of these financial statements are set out below. These policies have been consistently applied to all the years presents unless otherwise stated. Stat¢ment of compliance The financial statements have been preparaj in accordance with Accounting and Reporting by Chariti&s: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Rorting Standard applicable in the UK and R¢publi¢ of Ircland (FRS 102) (efftctive l January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Stsndard appllcable in the UK and Republic of Ireland (FRS 102). They also comply with the Compani£5 Act 2006 and Charities Act (Northern Ireland) 2008. Basis of preparation Inter-Ethnic Forum (Mid And East Antrim) meets the definition of a public benefit entity under FRS 102. Assets and liabilitie5 are initially recognised at historiLzl cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going concern The financial statements have be prepared on a going concern basis. The directors have &ss&ssed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. The directors note the positive trading and cashflow position at the date of sign off of the financial statements and believe that the Charity will continue as a going ¢on¢ern and be able to realise its assds and discharge its liabiliti&s in the norn]al course of business. llleome elldowments All income is recognised once the charity has entitlement to the incom< it is probable that the income will be received and th¢ amount of the income r¢ceivabl¢ can be measured reliably. Page 9
Inter-Ethnic Forum (Mid And East Antrim) Notes to the Financial Statements for the Year Ended 31 March 2024 Donalions andlegaciey Donations are recogni5ed when the charity has tttn notified in writing of the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully tnet, or the fulfilment of thos¢ condition5 is wholly within the control of the charity and it is probabl¢ that th¢se conditions will be lfilled in the reporting periLNI. Grants receivable Grants are recognised when the charity has an entitlement to the fi]nds and any conditions linked to the grants have en met. Where performanLE conditions are attached to the grant and are yet to mel the income is re¢ognised as a liability and included on the balance sheet as defrrred income to Ix released. Expenditure All expenditure is reco8nised once there is a legal or constructive obligation to that expenditur< At is probable settlement is requir and the amount can be measured reliably. All costs are allated to the applicable cxp¢iiditur¢ 11¢4dins that ag8lC8atc similar w5ts to that category. Whcrc costs nn01 k dircctly attributcd to particular heading5 they have been allocated on a basis Consistent with the use of resources, with central staff costs allocated on the basis of time 5penl and depreciation charges all(Kated on the portim of the asset's use. Oth¢[ support costs ar¢ allocatcd bascd on thc spf¢dd of staff costs. Cliarilable activities Charitable expenditure compris&8 those costs incurr1 by the charlty in the delivery of its activities and services for its beneficiaries. It include5 both costs that Gqn be allwated directly to such activities and those costs of an indirect nature necessary to support them. Taxation The charity is wnbid¢rLxl pass tlie tests sct out in Paragrapth I Schedule 6 of thc financc Ad 2010 and therefore it meets the definition of a charitsble company for UK corporation tax purposes. Accordingly. the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I l of the Corpordtirn Tax Act 2010 or Section 256 of the Taxation of Chargcable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed &ssets are initially recorded at rt IS any subsequent accumulated depre¢iati(m and subsequent accumulated impairnient10sses. Depreciation and amortisgtion Depreciati is provided on tangible fixed assets so a5 to lte off the Cost or valuatioL less any estimated r&8iduai valu4 over their expected useful economi¢ life follows: Asset class Furniture and equipment Depreeiation method gnd rate 250h reducing balance basi5 Page 10
Inter-Ethnic Forum (Mid And East Antrim) Notes to the Financial Statements for tbe Year Ended 31 March 2024 Trade debtors Trade debtors are amounts due from customers for merchandise sold (ff services performed in the ordinary course of busine5S. Trade debtors are recognised initially at the transaction price. A provision for the impairnient of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original ternis of the receivables. Cish and cash equivalents Casli and cash ¢quAval¢AIts coAIipris¢ casli on Iiand ld Gall d¢posits. ]d otlicr 5hort-trtm hishly liquxd investments that are readily convertible to a known amount of cash and are subJt to an insignificant risk of change in value. Fund structure I InrÉqtricteA incnme fiinds are gener31 fiinds that gre glIAble fnr iJ.4e At the thJ.qteEq diqcretinn in furtherance nf the objectives of the charity. Restricted income fvnds are those donated for use in a particular area cr for specific purpose5. the use of which is restrlcted to that area IK purpo Pensiotts nd other post rètiremènt obligtiotts The charity operate5 a defined Contributi pension stheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay rther contributions even if the fund not hold sufficient assets to pay all ¢mployees the benefits relating to employe¢ service in the current and prior peri$. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contributiC due for service, the excess is rccognised as a prepayment. 3 Income from donations and legacies Unrestricted funds General Restricted fuDds Total funds Donations and legacies; Donations from individuals Grants. including capitsl grants: Grants from other charities 250 250 89.407 68.210 157,617 Total for 2024 89,657 68,210 157.867 Total for 2023 89,062 59.805 148,867 Page 11
Inter-EthDic Fornm (Mid And East Antrim) Notes to the Financial Statements for the Year Ended 31 March 2024 4 Income from charitable activities Unrestricted funds Gentrnl Total funds Servic&5 and support 5.752 5.752 Total for 2024 5,752 5,752 Totsl for 2023 4,994 4,994 5 Expenditure on charitable activities Unrestricted funds General R¢strieted funds Tot41 funds Wage5 and salari&s Rent, rates and insurance LighL heat and power Telephone and internet Computer costs Administrati(, Frf)5ta8e and station Project and events expenditure Sundry expenses Cleaning Travel and sub5iStence Accountancy TranslatiC expenses Bank charges Depreciation of plant and machinery 65.373 4.466 936 3.302 455 1,740 3,063 1,044 367 1624 1,458 5,827 317 174 22,647 300 88,020 4,766 936 3,302 455 1.740 17,930 1.044 367 2,624 1.458 36,223 317 174 14.867 30.396 Total for 2024 91,146 68,210 159,356 Total for 2023 79.394 59,805 139.199 6 Ne¢ incomingloutgoing resources Net incoming resources for the year include: 2024 2023 Dq)reciati(m of fixed assets 174 231 7 TrteeS remuneration and expenses No tntee4 any persons connected with have received any remunerati¢)n from the charity during the Page 12
Inter-Ethnic Forum (Mid And East Antrim) Notes to the Financial Statements for the Year Ended 31 March 2024 8 Staff costs The agegate payroll costs were as follows: 2024 2023 Staff eosts during the yevdr were: Wage5 and salaric5 Social security costs Pension costs 83,076 2,738 2.206 88,020 71,807 1,138 1,313 74,258 The monthly average number of persons (including senior management I leadership team) employed by the charity during the year expressed as fvll time equivalents was as follows: 2024 2023 Administrati No employee received emoluments of more than £60.000 during the year. 9 Taxation The charity is a register tharity and is therefore exempt fr(Kn taxation. Page 13
Inter-Ethnic Forum (Mid And East Antrim) Notes to the Financial Statements for the Year Ended 31 March 2024 10 Tangible fix¢d assets Furnitiire 2nd equipment Total Cost At l April 2023 2,401 2,401 At 31 March 2024 2.401 2,401 Depreciation At l April 2023 Charg¢ for the year 1.706 174 1,706 174 At 31 March 2024 1,880 1.880 Iyet book value At 31 March 2024 521 521 At 31 March 2023 695 695 11 Debtors 2024 2023 Trade debtors 60,040 33.157 12 Cash and cash equivalents 2024 2023 Cash at bank 42.457 58,767 13 Creditors: amounts falling due within one yegr 2024 2023 Other taxation and social security Accruals 6.0&1 1.693 1,621 7.757 1,621 Page 14
Inter-Ethnic Forum (Mid And East Antrim) Notes to the Financial Statements for the Year Ended 31 March 2024 14 Funds Ba12nce at I April 2023 Ineoming resources Resources expended Bal8nce at 31 M8rch 2024 Unrestricted funds General General fjjnds 90,998 95,409 (91.146) 95,261 Rcstrictcd fuudJ Mid and East Antrim Council British Red Cross PHA Halifax HuiIir o£fice 10.002 5,500 38,412 4,000 4,557 5,739 (10,002) (5,500) (38,412) (4.000) (4,557) 5,739 Radius Housing TotZ41 restricted funds 68,210 (68,210 Total funds 90,998 163,619 159,35 95.261 Bglanee at I April 2022 Incoming resources Resource5 expended Balance at 31 March 2023 Unrestricted funds General General funds 76,336 94,056 (79,394) 90,998 Restricted Mid and East Antrim Council British Red Cross PHA Home Office Radius Housing Donations 12.051 1,150 33,003 6.410 5,791 1,400 (11051) (1,150) (33,003) (6,410) (5,791) (1,400 Total restricted funds 59.805 59.805 Total funds 76,336 153.861 139.199 90.998 The following income is Includ within unre5trict&J general fLmds: The Executive Office £70,441 (£70,373 - 2023) Mid and East Antrim Boroush Council £13.972 (£13,699- 2023) Northern Ireland Housing Executive £4,994 (£4.99)- 2023) Page 15
Inter-Ethnic Fornm (Mid And East Antrim) Notes to the Financial Statements for the Year Ended 31 March 2024 15 Anglysis of net assets between funds Unrestricted funds General Total fund5 at 31 March 2024 Restricted funds Tangible fixed as5&s Current assets Current liabilities 521 96,521 (7.75 521 102,497 (7.757) 95.261 5,976 Total net assets Y.2¥5 5,976 Unrestricted funds General Total funds at 31 March 2023 Restricted funds Tanglble flxed assets Current assets Current liabiliti 695 695 91,924 1,621 89,429 1,621 2.495 T()tal net assds 88.503 2,495 90.998 Page 16