COMPANY REGISTRATION NUMBER: N1063330 CHARITY REGISTRATION NUMBER: NIC 102975 Belfast Orangefest Company Limited by Guarantee Financial Statements 28 February 2019
Belfast Orangefest Company Limited by Guarantee Financial Statements Year ended 28 February 2019 Page Trustees, annual report (IncoOratIng the directorfs report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements
Page 1 Belfast Orangefest Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 28 February 2019 The trustees. who are also the directors for the purposes of company law. present their report and the unaudited financial slalemenls of the charity for the year ended 28 February 2019. Reference and administrative detalls Registered charity name Belfast Orangefesl Charlty reglstratlon number NIC 102975 Company re9lstratlon nurnber NIC63330 Prlnclpal offlce and registered 7 Brookmount Street office Belfast BT13 3AP The trustoes Mr Merwyn Bishop Mr Dawson Bailie Mr Spencer Beattie Mf Wilson Finlay Rev Mervyn Gibson Dr James Laird Mr Raymond Spws Company Secretary Dr James Laird Independent èxaminer Johnston Graham Limiled 2161218 Holywood Road Belfa$l BT4 1PD Structurei governance and management Governlng Document The organisalion is a eompany limited by guarantee. incofporaled on the 27th February 2007 and awarded charitable status on that same dale. This has Sin been reaffirmed by the Chafily Commission for Northern Ireland on 25th June 2015 (Charity Registration Number NIC 102975}. The company was established under a Memorandum of As%)ciation and is govemed under ils Constslulion. Recruitment and Appointment of Management Committee The directors of the company are also charity trustees for the purposes of charity law and under the cornpany's Articles. Under the requirements of ihe Conslttution the members of the Board of Directors are elecled to serve lor a peiiod of one year after which they must be re-elecled al the next Annual General Meeting. The traditional skills of management and company related practical skills are well represented on the Board of Directors.
Page 2 Belfast Orangefest Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢¢inlinuedJ Year ended 28 February 2019 Structuiei govemance and managemenl rconthiu8dJ Trustee Induction and Training Most Iruslees are already familiar arKI have a sound understanding of the company's aims and objectives including that of charitable status and additionally any new trustee is invited lo attend some short training sessions that are led by the Chaimian and Secretary lo the Management Committee that cover the following.. The duties and responsibilities of Management Committee members The main documents which sel out the operational framework of the company including the Articles and Memorandum of Association Resouicing and the current financial posrtion as sel out in the company accounts Fulure plans and objectives The Company strategy and action plan are issued to rthi trustees as part of this induclh)n and training. Rlsk Managemgnt The Board ol Directors has wnducted a revEw ol any pee1Ved major risks lo which the charity may be exposed. Systems or procedures have been established lo miloale the risks the charity may face as appropriate. Procedures are in place to ensure compliance with the health and safely ol staff, volunteers and visitors lo the office any events that the company may organise. These procedure$ are reviewed periodically lo ensure they continue lo meet the company needs. Organisatlonal Stiucture Bellasl Orangefesl has a 8oard of Directors of 7 members and an Advisory l Management Committee of 14 members who meet on a monthly basis and are resp)nsible for the strategi¢ direction and policy of the company. There is also a Director of Development who is in attendance bul does not qualify for voting rights al these meetings. A procedure of delegation is employed by the Management and Advisory Committee lo the Director of Development who is charged with the day lo day responsibilities of the company and has the operational management responsibility for the adherence to good govemance and working praCteS.
Page 3 Belfast Orangefest Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (continue£lJ Year ended 28 February 2019 Objectives and activities The company's objectwes and principal activities are lo.. Promote the Belfast 12th Celebrations in a manner that is increasingly acceptable and welcoming lo all Promote all Orange events in Belfast In a manner that allows all lo attend and this is bring achieved through our theme "Education Ihfough Celebration" The main objectives and activitS for the year continue lo focus on Ihe theme "Education through Celebration" in a wide variety of evenls such as". Launch of the Belfast 12th.. Band performances. Hyhland Dantsrs, Lambeg Drumming, Poetry. Re*naclmenl, Pipers. The 12th Celebrations.. bands. parades. historical renlmentS. children's entertainment Art. Poetry, Photographic and short story CompetitnS for Primary, Secondary and young adults Partnership with Belfast City Cenlre Management and its wider network to show that 8elfasl City Centre is open and welcoming on 12th July lor everyone Promote the 12th July as a fully Family Friendly through separate projects event striving lo negate any possible anli-soeial behaviour from any quarter Promote Ihe 12th July as a Tourist altraction and increase f¢)Otfall in Belfast City Centre Actively continue in the process lo attempt to get Ethnic Minorities lo participate in our information programme Achievemgnt8 and pertorniance The achievements and perfomance lo dale continue lo be encouraging and in the coming years the company are strivin9 to progress tth within and wilhoul ils own community and active work is still ongoing lo encourage individuals and groups from other communitses and traditions with a renewed focus on tourism lo come and join with us, and this is beginning lo show some success. Flnanclal r¢v5ew Against the backdrop of limited resoufces and continuing insecurity over fvnding Il remains difficult lo plan Of develop our services. nevertheless the company ntInueS to employ a Oirector of Development who is vital lo the ¢)verall success of the project. PRINCIPAL FUNDING SCHEMES Aside from the Department lor Communrtie5 {Belfasl Regeneration offe) who funds the Direelor of Development and project bul not generally prcyjramme work, funding has been received this year for programme work frorn Belfast City Council and COperation Ireland, however. unfortunately and as a direct result lo unsuccessful funding applications the company has had lo constrain ils activities again. The company is hopeful for more SueSSl funding grant application in the mming years.
Belfast Orangefest Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (¢ontinuedJ Year ended 28 February 2019 Plans for future periods Page 4 The company plans lo continue and expand upon the actNrtres outlined above in the coming years but understands that this is always dependent upon successful funding and any inlefnal finances available. RESPONSIBILITIES OF THE BOARD OF TRUSTEES The management committee are responsible fof prep8rrng the report of the Management Committee and the financial statements in accordance with aPpIable law and regulations. Company law requires the Management Committee to prepare financial statements for each financial year. Under that law, the Mana9emenl Committee have elected lo prepare the financial ststemenls in accordance with United Kingdom Generally Accepted PractKe (United Kingdom Accoijnling Standards and applicable lawl. The financial ststemenls are required by law lo give a true and lair view of the stale of affairs of the charrtyl¢ompany and the surplus or def11 of the charitylcompany for that period, In preparing Ihe$e financial slalements. the Managemenl Committee are required lo". Select surtable accounting w11cS and apply them consistently Make judgemen15 and estimates that are reasonable and Pfudenl Prepare the finanual statements on the on90ing basis unless il is inappropnale lo presume that the charilyleompany will ¢onlinue in operation The Management Committee are responsible for keeping proper accounting records which di5¢1ose with reasonable accuracy al any lime the financial position of the charilylcompany and which will enable them lo ensure that the financial statements comply with the Companies Ael 201. The Management Committee are also responsible for safeguarding the assets of the charitylcompany and henee for taking reasonable steps lor the preVentn and delecb.on of fraud and other irregularities. In $0 far as the Management Committee is aware.. There is no relevant audit infom)alion of which Ihe charitylcompany Is unaware The Management Committee has taken all steps that they ought lo have taken lo make Ihemsefves aware of any relevant audit informalion and lo establish that the auditor is aware of that information CONCLUSION The Board of Directors are confident that Bewasl Orangefest Limited is fvlfilling its commitment lo the Department and are pleased lo report yet anolhef successful Funding Period lo which Ofangefesl are on tsrget lo complete all its outputs in their enlirety. Small company provisions This report has been prepared in xcordaft with the provisnS applicable lo companies entitled to the small companies exempb"on.
Page 5 Belfast Orangefest Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Reportl feontinuedl Year ended 28 February 2019 The trustees, annual reFK)rt was approved on 25 November 2019 and signed on tehaw of the board of trustees by.. Mr Meryyn Bishop Trustee Rev Mervyn Gibson Trustee
PagÈ 6 Belfast Orangefest Company Limited by Guarantee Independent Examinerfs Report to the Trusteès of Belfast Orangefest Year ended 28 February 2019 I report to the trustee5 on my examina1 of the finanuat ststemenls ol Beifa51 Orawefest I'lhe chaiily'l for Ihe year ended 28 Febwary 2019 Ro$ponslbllltio8 and tWSi5 of report As the trustees of IhÈ land also ils dweclors lor the purpose5 of cofflpany lawl you are reswnsible lor the preparat ol Ihe finarKial Staiements In with Ihe requiiements of Charities A¢1 (Northern Irekndl 2008 (the .2008 Acl'l and the CompanEs Acl 20C6 I'lhe 20CE Acl'l. You are satisfied that Ihe a¢¢ounts of the rmpanY are not required by chai+ty or company law lo tse aud11ed and have chosen Insle lo have an irthpethi exammiaiion. Having satisfied myself Ihal Ihe xcounts of the ¢¢)mpany are t requifed to be audited under Part 16 ol Ihe 20fh3 Act and are eligib for iodependenl eXarnir. l In respe¢t ol my examinaiion of the charity's Iinancl slaiemenls as carned out under Sect 65 of the 2008 Acl In carry1ng out my eKaminalion I have fdlowed the general Direcn$ gNen by the Charity commiss for Northern Ireland under 5ectb)n 6519llbl of the 2CQ8 Ad Independent examlnot's 8tatemenl I have COMPIe my e¥aminaiK)n I tl¥M thal Tr) matters h8¥e c4Th lo my attention in ccfineclion with my exarninatvJTh gNing me cause to bdve thai In any speCt. accouThling recwds re nol kepl in respecl of the ctharity as by $tKIn 386 of the 20Cfj A¢l'. or Ihe Iinanc4BI statemen15 vAlh Ih)se re¢4¥ds c Ihe finwoal slaiemenls do not cunwy knith the acowrthg wqu¥ements ol Secti 396 01 Ihe 20C6 Acl Other Ihan wy requirement thai the accounts give a'true and fair view whKh Is noi a maller Condered as pari ol an In¢JEperKleni examinats"on. the Iinartol swements have epa m acOydae th Ihe methods and princifv of the Statement ol Recrmrrended PraclK¢ f¢r accounlrg 3nd Tepotbng by charthes aWilIe lo preparing Iheii xctyjnls in xc(xdance with Ihe Financial Rewlmg SId¥r0 aWrAble In the UK Reputy1 of IreW IFRS 1021. I conlirtn thai Ihere ale no Olhw maitws whth yovr shouhl be drawn to enable 8 woper underslandin9 Df the a¢¢ouni$ to be reatheo hcmkn, knLuA Oavid Knox fty and on behallof Johnston Graham LThted Charted Acc(KJnbnis 2161218 Hdywooj R08d 8elfa$t T4 1P0
Page 7 Belfast Orangefest Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 28 February 2019 2019 Resth"cled funds Total funds Total funds 2018 Unrestricted funds Income and endowments Charitable activities 128.647 128,647 128,647 129,362 129.362 Total income 128.647 Expenditure Expenditure on Charitable activities Total expenditure 128,958 128,958 129,542 129,542 128,958 128,958 Net expenditure and net movement in funds 13111 13111 11801 Reconciliation of funds Total funds brought forward Total funds carrlod forward {577) 1888) 1,307 1,487 1,307 1.884 The slalemenl of financial aclivities includes all gains and bsses recognised in the year. All income and expenditure derive from continuing aclj'vil$. The rM>tes on pages 9 to 14 fowm part ol these Ilnancial statements.
Page 8 Belfast Orangefest Company Limited by Guarantee Statement of Financial Position 28 February 2019 2019 2018 Note Current assets Debtors Cash al bank and in hand 10 23,100 48.690 13,411 18,191 71,790 31,602 Credltors: amounts falling duo within one year Net current assets 11 70,794 30,295 996 1,307 Total assèts less cvrrgnt liabilitles 996 1.307 Net assets 996 1.307 Funds ol the Charlty Reslncled funds Unrestricted funds {8881 1.884 15771 1,884 Total charlty funds 12 996 1,307 For the year ending 28 February 2019 the charity was entitled lo exemption from audit under section 477 of the Companies Act 2006 relatin9 to small companies. Directors. resFonSibililS'. The member5 have not required the company lo obtain an audit of its finan¢ial statements for the year in question in accofdance with section 476., The directors ackn¢)wledge their responsibilitie5 for Complying with the requirements of the Act with respect to accounting records and Ihe preparation ol financial ststements. These financial statements have been prepared in accordance with the provisions applicable lo companies subject lo the small companies. regime. These financial stslemenls were appr¢)ved by the board of tnjslees and authorised for issue on 25 November 2019. and are signed on behalf of the board by.. r Mervyn Trustee hop Rev Mewyn Gibson Trustee The notes on pages 9 to 14 ft)m) part ofthese finartial statements.
Page 9 Belfast Orangefest Company Limited by Guarantee Notes to the Financial Statements Year ended 28 February 2019 Genefal infomiation The charity is a public benefit enlily and a private company limited by guarantee. registered in Northem Ireland and a registered charity in Northem Ireland. The addfess of the registered office is 7 Brookmount Street, Belfast. 8T13 3AP. Statement of compliance These financial stslemenls have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Stslemenl of Recommended Practice applicable lo charities preparin9 their accounts in accordan with the Financial Reportsng Standard applicab in the UK and Republic of Ireland IFRS 102} (Charities SORP IFRS 10211 and the Companies Act 2006. Accountlng policies 8asls of preparatlon The financial stslemenls have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilitses and investment properbes measured al fair value through ineome or expenditure. The financial $lalements are prepared in sterling, which is the fvncts'onal currency of the enlily. Golng con¢em There are no material uncertaint$ about the charitys ab'lity lo conlinue. Judgements and key sour¢è¥ of estimation uncertalnty The preparation of the financial statements requires management lo make judgements. eslimales and assumptions that affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other factors, including expectations of fuluie events that are believed to be reasonable under Ihe ClTcumslan. Fund accountlng Unreslricled funds are available for use at the discretr)n of the tTUStees to further any of the charty's purposes. Designated funds are unrestitted funds eam)arked by the Iruslees for particular future project or commitment. Restricted funds are subjected lo restridions on their expenditure declared by the donor or through the lefms of an appeal, and fall into one of Nvo sub<lasses.' restricted income funds or endowment funds.
Page 10 Belfast Orangefest Company Limited by Guarantee Notes to the Financial Statements (continue#) Year ended 28 February 2019 Accounting policies (conllnufjdj Incoming resources All incoming resources are included in the statement of financial activities when enlitlemenl has passed to the charity.. rt is probable that the economic benefits associated with the transaction will flow lo the charity and the amount can be relk4bly measured. The followin9 speerfic policies are applied lo particular categories of Income. income from donations or grants is recognised when there is evidence of entillemenl to the gift, receipl is probab and its amount can be measured reliably. legacy inrne is recc43nised when receipt is probable and entiuemenl is established. income ftom donated goods is measured al the lair value of the goods unless this is impractical lo measure relk8bly. in which case the value is dellved from the wsl to the donor or the estimated resale value. Donaled facililies and services are recognised in the accounts when reIVed if the value can be relblY measured. No amounts are included lor the contribution of general volunteers. income fr contracts for the supply of SeiCeS is recognised wrth the delivery of the contracted service. This is classified as unrestricted funds unless there is a conlraclual requirement lor it lo be spent on a PartUlar purF4)se and retumed if unspent, in which caso il may be regarded as restricted. Re8ourc•s •xp•nd Expenditure is recognised on an erualS basis as a liability is incuffed. Expenditure includes any VAT which cannot be fully recovered, and 1$ classified under headings of the slalement of financial aclivilies to whKh il relates.. expen¢Jilure on raising funds include5 the costs of all fundraising acts'vities. events, non-charilable trading aclivilies. and the sale of donated goods. expendrture on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims fo( the benefft of its beneficianes, including those support costs and costs relating to the governance of the charity apportioned to charitab18 aclivilies. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of ils expenditure on charitsble activitS. All costs are allccated to expenditure categories rellecting the use of the resource. Direct msts attributable lo a single activity are allocated directly lo that activity. Shared costs are apportioned betweers the activities they contribute lo on a reasonable, justsfiable and consistent ba5. Financial instrumgnts A financial asset or a financial liability is recognised only wthen the charity becomes a party lo the contractual provisions of the instrument. Basic financial instruments are initially Tecognised at the amount receivable or payable including any related transaction costs.
Page11 Belfast Orangefest Company Limited by Guarantee Notes to the Financial Statements ftonJnuedl Year ended 28 February 2019 Accounting policies (conlinue Financial instruments fcontifty¢d) Current assets and Current liabilities are subsequently measured at the cash or other onsideralion expected to be paid or received and not discounted. Debt instruments are subsequently measured al amortised $1. Where investments in shares are publlY traded or their fair valtje can otherwse be measured reliably, the investment is subsequently measured al fair value with changes In fair value recognised in income and expendilure. All olher SLth investments are subsequently measuied at cost less impairment. Other financial inslrumenls, including derivatives, are initsally reeognise(l at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rale of interest that is not a market rate, in which se the asset is measured at the present value of the future payments tjiscounled at a markel rale of interest for a similar debt insliumenl. Other financial instruments are subsequently rneasUd al fair value, with any changes recognised in the slalemenl of financial actsvilies, with the exception of hedging inslwmenls in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed lor objective evidence of impaimienl al the end ol each reporting date. If there is objective evidence of impaimienl, an impaimienl loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless ol significance. and other financial assets that are individually significant. these are assessed individually for impaimienl. Other financial assets are either assessed indivallY or groured on the basis of Similar credit risk characteristics. Any reveisals of impaimient are recogntsed immediately. to the extent that the VerSal does not result in a carrying amount of the financial asset that exceeds what the carrying amoLtnt would have been had the impairment not previously been recognised. Llmitod by guarantee The company is limited by guarantee and has no aulhorised or issued share capital. The company has charitable status accepted by the Chanty Commiss¢on for Northern Ireland under reference NIC 102975.
Page 12 Belfast Orangefest Company Limited by Guarantee Notes to the Financial Statements (eotthnuedj Year ended 28 February 2019 Charitable activities Restricted Total Funds Funds 2019 Reslrieted Totsl Funds Funds 2018 Sundry Department for Social Development Battle not the Bott - Bellasl City Council TEO Battle not the Bottle - PCSP Belfast Cty Council 46.107 46,107 39,053 39.053 30,000 8,550 10,000 41,750 30.000 8,550 10.000 41,750 4,000 78,540 4,000 78.540 128,647 128.647 129,362 129,362 ExpendStUTe on charftable actlvltles by fund ty Restricted Total Funds Funds 2019 Restricted Totsl Funds Funds 2018 Department for Social Development TEO Ballle not the Bollle - PCSP Belfast City Council Ballle not the Bottle- Beffasl City Council 46.418 46.418 39,237 8,5SO 10,000 41,750 39,237 8,550 10,000 41,750 4.000 78.540 4.000 78,S40 30,005 30,005 128.958 128,958 129,542 129,542 Expendlture on eharltable activitiès by activity typg Grant funding Total lunds of activities 2019 Total lund 2018 Department for S¢xial Development TEO Battle not the Bottle - PCSP Belfast City Council Battle not the Bottle - Belfast City Council 46,418 46,418 39,237 8.550 10.000 41.750 30.005 4.000 78,540 4.000 78.540 128,958 128,958 129.542 Staff costs The lolal stsff costs and employee benefits for the reporting perw)d are analysed as follows.. 2019 2018 Wages and salaries 37.454 30.021
Page 13 Belfast Orangefest Company Limited by Guarantee Notes to the Financial Statements (confynu8dJ Year ended 28 February 2019 Staff costs (cofttlnued) The average head count of empbyees during the year was 1 12018.. 11. The average number of full-time equivalent employees during the year is analysed as follows-. 2019 No. 2018 No. Management staff No employee received employee benefits of more than £60,IXKI during the year {2018.' Nil). Trustee rernunefation and expenses No trustees received remuneration or other benefts through empbymenl with the charity. 10. Debtors 2019 2018 Other debtors 23,100 13,411 11. Credltors: amounts falllng due wlthln one year 2019 2018 Accrua15 and deferred in¢gme Delerred income Amount payable lo County Grand Orange Ltsjge of Bellast 6.166 49.628 15,000 6.199 9,096 15.000 70,794 30.295 12. Analysls of charitable funds UnrestrScted lunds At 28 February 2019 At 1 March 2018 Income ExndItUre Unrestricted funds 1,884 Al 28 February 2 018 At 1 March 2017 Income Expenditure Unreslricled funds 1.884
Page 14 Belfast Orangefest Company Limited by Guarantee Notes to the Financial Statements (conlinu•dJ Year ended 28 February 2019 12. Analysls of charitable funds (¢onlin4KdJ Restricted funds At 28 February 2019 At 1 March 2018 Income Expendilu Department of Social Development Belfast City Council Sundry PHA ttle not the Bottle - PCSP (1711 46,107 78,540 146,418 178,540) 14821 (1581 (2481 11581 12481 4,000 14.0001 1128,9581 15771 128,647 18881 Al 28 February 2 018 At 1 March 2017 Income Expenditure Department of S¢xial Development Department of Social Development Belfast City Council Sundry Battle not the Bottle TEO PHA Battle not the Bottle - Belfast City Council Battle not the Bottle - PCSP 13 39,053 41,750 139,237) 141,750 11711 (1601 2) 11511 121 8,550 18,5501 (2481 12481 30,000 10,000 129,362 {30,0051 {10.0001 1129.5421 151 1397) {577} 13. Analysls of net assets between funds Unrestrieled Funds Reslricled Totsl Funds Funds 2019 Current assets Creditors less than 1 year Net assets 1,884 69,905 170,793) 18881 71.789 (70,7931 996 1.884 Unrestricted Funds Restricted Total Funds Funds 2018 Current assets Credilors less than 1 year Net assets 1,884 29.718 {30.2951 {5771 31.602 130.2951 1.307 1.884