MORNINGTON COMMUNITY PROJECT LIMITED
{Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE
ACCOUNT
Year to
Unrestrirted Restricted 30-Sep23
Funds
Funds
TOTAL
Year to
30-Sep-22
TOTAL
Note
Income from:
Donations and Legacies
Charitable Activities
1,968
67.062
129,927
131.894
67.062
190,724
37,825
Total Income
69,030
129.927
198,957
228,549
Expenditure on:
Charitable Activities
74,962
133.839
208.802
225,689
Total Expenditure:
74,962
133,839
208,802
225,689
Net income/{expenditure)
(5.933)
{3.912)
19.845)
2,860
Transfers between funds
Net movement in funds
{5,933)
{3,912)
19,845
2,860
Reconciliation of Funds
Total funds brought forward
12
{23,686)
48,339
24.653
21,793
Total Fund5 carried forward
li
{29,618)
44,427
14,808
24,653
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and
expenditure account under the Companie5 Act 2006.
The notes on page 13 to 19 form an integral part of these accounts
io

MORNINGTON COMMUNITY PROJECT LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
BALANCE SHEET
As at 30 September 2023
2023
2022
Note
Fixed Assets
Tangible Assets
13
375
375
40,711
40,711
Current Assets
Debtors
Cash at bank
9.365
17,785
27,150
10,060
39,236
49,296
Liabilities
Creditors: amounts fallin8 due within one year
io
(12,717)
(27,299)
Net Current Assets
14,433
21,997
Total Assets Les5 Current (Liabilities)
14.808
62,708
Long term creditors
14
(38,055)
Total Long-term Liabilities
(38,055}
Net assets
14,808
24,653
Funds
Restricted
Unrestricted
44,427
(29,618)
48,339
(23,686)
TOTAL FUNDS
11
14,808
24,653
The company is entitled to the exemption from the audit requirement contained in section 477
of the Companies Act 2006, for the year ended 30 September 2023.
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 financial 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.
11

MORNINGTON COMMUNITY PROJECT LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
BALANCE SHEET continued...
As at 30 September 2023
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 board directors on 30/09/2023 and were signed
on their behalf by:
David Hall
Trustee
The note5 on page 13 to 19 form and integral part of these accounts
12

MORNINGTON COMMUNITY PROJECT LIMITED
(Private company limited by guarantee without share capitall
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
NOTES TO THE ACCOUNTS
l Accounting policies
Charity information
Mornington Community Project Limited is a private company limited by guarantee incorporated in
Northern Ireland. The registered office is: Mornington Community Project, 117 Ormeau Road,
Belfast, BT7 ISH
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's governing document, the
Companies Act 2006 and "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 102)" (as amended for
accounting periods commencing from l January 2019). The charity is a Public Benefit Entity as
defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102
Update Bulletin I not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity.
Monetary amount5 in these financial statement5 are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to
include the revaluation of freehold properties and to include investment properties and certain
financial instrument5 at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements. the trustees have a reasonable expectation that
the charity has adequate resources to continue in operational existence for the foreseeable
future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the
financial statements.
During the year the organisations unrestricted reserves have gone into a negative123,686) the
board have discussed thi5 and are content that the Charity will have sufficient income in future
years to bring the organisations unrestricted fund into a positive.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their
charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions
have been met, the amounts can be measured reliably, and it is probable that income will be
received.
13

MORNINGTON COMMUNITY PROJECT LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
NOTES TO THE ACCOUNTS CONTINUED...
1.4 Incoming resources (continued)
Cash donations are recognised on receipt. Other donations are recognised once the charity has
been notified of the donation, unless performance conditions require deferral of the amount.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant IS
recognised at the time of the donation.
Turnover is measured at the fair value of the consideration received or receivable and represents
amounts receivable for goods and services provided in the normal course of business, net of
discounts, VAT and other sales related taxes.
1.5 Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charity to that expenditure. it is probable that a transfer of economic benefits will
be required in settlement and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all cost related to the category.
The charity is below the charity audit threshold and therefore is exempt from reporting
expenditure on an activity basis. The charity has opted to report by the nature of expenditure
rather than on an activity basis.
1.6 Tangible fixed asset5
Tangible fixed assets are initially measured at cost and subsequently mcasurcd at cost or
valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual
values over their useful lives on the following bases:
Freehold Property
4Yo Straight line
Plant & machinery
25% reducing balance
Fixtures & fittings
20Yo reducing balance
Computer equipment
25Yo reducing balance
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term
liquid investments with original maturities of three month5 or less, and bank overdrafts. Bank
overdrafts are shown within borrowings in current liabilities.
1.8 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and
Section 12 '0ther Financial Instruments Issue5, of FRS 102 to all of its financial instruments.
Finaricial instruments are recognised in the charity's balance sheet when the charity becomes
party to contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial
statements, when there is a legally enforceable right to set off the recognised amounts and there
is an i ntention to settle on a net basis or to realise the asset and settle the liability simultaneously.
14

MORNINGTON COMMUNITY PROJECT LIMITED
{Private company limited by guarantee without share capital)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
NOTES TO THE ACCOUNTS CONTINUED...
1.9 Basic financial assets
Basic financial asset5, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using
the effective interest method unless the arrangement constitutes a financing transaction. where
the transaction is measured at the present value of the future receipts discounted at a market
rate of interest. Financial asset5 classified as receivable within one year are not amortised.
1.10 Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction
price unless the arrangement constitutes a financing transaction, where the debt instrument 15
measured at the present value of the future payments discounted at a market rate of interest.
Financial liabilities classified as payable within one year arc not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate
method.
Trade creditors are obligated to pay for goods or services that have been acquired in the ordinary
course of operations from supplier5. Amounts payable are classified as current liabilities if
payment 15 due within one year or less. If not, they are presented as non-current liabilities. Trade
creditors are recognised initially at transaction price and subsequently measured at amortised
cost using the effective interest method.
1.11 Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are
discharged or cancelled.
1.12 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's
services are received.
Termination benefit5 are recognised immediately as an expense when the charity is
dernonstrably committed to terminate the employment of an employee or to provide termination
benefits.
1.13 Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make
judgements, estimates and assumptions about the carrying amount of a55ets and liabilities that
are not readily apparent from other sources. The estimates and associated assumption5 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 current and future periods.
15

MORNINGTON COMMUNITY PROJECT LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
NOTES TO THE ACCOUNTS CONTINUED...
2 Income from Donations and Le
acies
2023
2022
Unrestrirted Restricted
Funds
Funds
TOTAL
TOTAL
Donations
Grants
Totals 2023
1,968
1,968
129.927
131,894
6,548
184,176
190,724
129,927
129,927
1,968
Totals 2022
40.119
150.606
190,724
3 Incorne from Charitable Activities
2023
2022
Unrestrirted Restrirted
Funds
Funds
TOTAL
TOTAL
Rental Income
Tus Geal
Totals 2023
9,127
57,936
67.062
9,127
57,936
67,062
7,250
30,575
37,825
Totals 2022
37,825
37,825
4 Staff Costs and Numbers
2023
2022
Gross Wages and Salaries
67,975
67,975
103,493
103,493
No employee received emoluments of more than £60,00012022: Nil)
The average monthly number of employees during the year, calculated on the basis of full time
equivalent5, was as follows:
2023
Number
2022
Number
5 Related art transactions
During the year, there were no related party transactions entered into and no outstanding
balance with related parties at the year end.
16

MORNINGTON COMMUNITY PROJECT LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
NOTESTO THE ACCOUNTS CONTINUED...
6 Ex
enditure
2023
2022
Charitable Activities
Unrestricted Restricted
Funds
Funds
TOTAL
TOTAL
Activities
Tus Geal
Programme costs
Insurance
Light & heat
Repairs & maintenance
Salary
Telephone
General
Bank charges
Depreciation
Business Mentoring & Support
Accountancy fees
Total 2023
2,850
1.120
14.579
614
7.753
1,116
47,288
2,850
37.957
17.941
4,724
7.994
6.077
67,975
302
10,130
434
40,337
7.791
4.290
208,802
3,452
12,756
12,602
4,036
8,800
3,794
103,493
288
18,308
421
51,648
2,791
3,300
225,689
36,837
3.362
4,110
241
4,961
20,686
302
1,944
434
8,186
40,337
7,176
2,820
133,839
615
1,470
74.962
Total 2022
89,204
136.485
225,689
7 Trustees remuneration & expenses
During the year, no Trustees received any remuneration (2022 - £NIL).
During the year, no Trustees received any benefits in kind {2022 - £NIL}.
During the year, no Trustees received any reimbursement of expenses {2022 - £NIL).
8 Debtors
2023
2022
Trade debtors
Other Receivable
8,365
1,000
9,365
5,950
4,110
10,060
9 Inde
endent examiner's remuneration
The independent Examiner's remuneration amounts to an Independent Examination fee of £0.00
{2022 - £0.00)
17

MORNINGTON COMMUNITY PROJECT LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
NOTESTO THE ACCOUNTS CONTINUED...
10 Creditors: amounts fallin
due within one
ear
2023
2022
Trade Creditors
Credit Card
11.653
1,063
12,717
25,578
1,721
27,299
11
Statement of funds - current
ear
Balance at I
October
2022
Balance at
30
September
2023
Income
Expenditure
Transfer
in/out
Restricted funds
Awards for all
Belfast City Council
Building Grant
CRC
DFA
HSCB
Hallfax Foundation
NIHE
PHA
Total restricted funds
8,507
{4,110)
22,715
18,507)
(20,540)
(40,337)
{1,200)
{14,671)
{15,025)
14,658)
(20,721)
{8,180)
(133,839)
30,650
38,055
1,5(K)
24,934
15,025
500
11,083
8,180
129.927
6.000
20,434
300
16,528
6,265
4,158
10,801
1,163
48,337
44,425
Unrestricted funds
General funds
Total Unrestricted funds
{23,686)
(23,686)
69,030
69.030
(74,962)
(74.962)
(29.618)
129.618)
Total of funds - current year
24,652
198,957
(208.802)
14,807
At the end of the year Belfast City council owed Mornington £1,000 which is reflected in Note 8.
18

MORNINGTON COMMUNITY PROJECT LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
NOTESTO THE ACCOUNTS CONTINUED...
12 Statement of fund -
rior
ear
Balance at I
October
2021
(23,297)
45,090
21,793
Income
Expenditure
Transfer
Balance at
in/out 30 Sept 2022
{23,686)
52,447
28,762
Total unrestricted funds
Total restricted funds
Total of funds - prior year
77.943
154,715
232,659
(89,204)
10,872
{136,485) (10,872)
(225,689)
13 Tan
ible assets
Freehold
Pro
Plan &
Machine
Fixtures & Computer
Fittin
ui
ment
Total
Cost
At 01/10/2022
Addition5
Total
512,519
13,654
84,791
2,777
613,741
512,519
13,654
84.791
2.777
613,741
Depreciation
At 01/10/2022
Charge
Total
472,887
39,632
512.519
13,654
84.791
1,698
704
2.403
573,030
40,337
613,367
13.654
84.791
Net Book Value
At 30109/2023
At 30109/2022
375
1,079
375
40,711
39,632
14 Grant Release
Cost
At 01/10/2022
Additions
Total
Total
190,267
190,267
Amortisation
At 01/10/2022
Charge
Total
152,212
38,055
190.267
Net Book Value
At 30109/2023
At 30/09/2022
38,055
19