Charlty reglstration number NIC103103 Company registratlon number N1036145 (Northèm Ireland} ALBERT STREET COMMUNITY CENTRE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023 ALBERT STREET COMMUNITY CENTRE LIMITED LEGALAND ADMINISTRATIVE INFORMATION Trustees Mr D Power Mr G Fusco Mr F Mccann Mr T Rocks Mr M Voyle Charlty number NIC103103 Company number N1036145 Principal address Maureen Sheehan Centre 106 Albert Street Belfast BT12 4HL Raglstered office 106 Albert Street Belfast BT12 4HL Auditor GMCG BELFAST Chartered Accountants & Statutory Audltor Alfred House 19 Alfred Street Belfast BT2 8EQ Bankers Danske Bank Donegall Square West Belfast BT16JS Sollcitors Murphy O'Rawe Scottish Provident Building 4th Floor 7 Donegall Square West Belfast BT16JF ALBERT STREET COMMUNITY CENTRE LIMITED CONTENTS Page Trustees, report Independent auditoffs report 5-10 ststement of financial a¢bvities 11 Balance sheet 12 Notes to the financial statements 13-25 ALBERT STREET COMMUNITY CENTRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MAY 2023 The trustees present their report and the audited financial statements for the year ended 31 May 2023. The financial statements have been prepared in accordance with the accounting policies set ¢￿rt in note 1 to the financial statements and comply viith the charitvs Artides of Assoaation, the Companies Act 2006 and -Accounting and Reporbng 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 governance and management The charity was established as a ￿MpanY under a Memorandum of Association which established the objects and powers of thg company and is govemed under its Artides ofAssociation. The trust88s, who ere also the directors for the purpose of company law. and who seNed during the year and up to th8 date of signature of the financral statements were: Mr D Power Mr G Fusco Mr F MGCann MrT Rocks Mr M Voyle OrganisatFonal Structure Albert Street Community Centre Limited is govemed by the Board of Trustees. Trustsès are appointed so that th8 charity has a variety of expertise and skills from relevant sectors. Recruitinent of trust88s Involves a nomination from currant Board Members. A vote is then held at thè next Trustee Meeting, and rf successful, a subsequent appointment is offered. The Board of Truslees ensures the good governance of the charity by setting its objectives and policy direction and monitoring progress on this, specifically in relation to the H.E.A.R.T. (Health Education and Relaxation Therapy), and Traveller projects run by the charity. The strategic development, approval of an annual action plan, reviewing evaluation reports and approving sustainability plans is the responsibility of the H.E.A.R.T. Project Partnership Committee. A Project Operational Management Group is responsible for the developmen( implementation and monitoring of the operational activities of the projects including the preparation of an annual action plan. Sub committees responsible for the day to day running of the projects then report to Ihe Project 0￿ratiOnal Management Group. Liz Mcshane is responsible for the day to day management of the charity. Risk Managgment The Board of Trustees have assessed the major risks to which the tharity is exposed. in particular those related to the operations and finances of the charity, and are satisfied that systems and pr(Kedures are in place to mitigate those risks. ALBERT STREET COMMUNITY CENTRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2023 Statement of trustees. responsibilities The trustees. who are also Ihe directors of Albert Street Community Centre Lirnited for the purpose of company law. are responsible for preparing the Trustees. Report and the financial statements in accordan￿ with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resour￿5 and application of reSoUr￿s. including the income and expenditure. of the charitable company for that year. In preparing these financtal statements. the trustees are required to: - select suitable aC￿Unting poliaes and then apply them wnsistently: - observe the methods and principles in the Charilies SORP: - make judgements and estimates that are reasonabl8 and prudent: stste whether applicable UK AccA)untin9 Stsndards have been followed, subjed to any material departuras dlsclosed and explained in the financial Ststen￿nts. and prepare the financial sL*ements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees arè responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charsty and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audltor In accordan￿ wth the companvs artlcles. a resdution proposing that GMCG BELFAST be reappointed as auditor of the company will be put at a General Meeting. Small companies exemption In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. Disclosure of inforrnation to auditor Each of the trustees has confimed that there is no information of which Ihey are aware which is relevant to the audit, but of which the auditor is unaware. They have further confinned that they have taken appropriate steps to identify such relevant infomiation and to establish that the auditor is aware of such infomiation. The trustees. report was approved by the Board of Trustees. Mr D Power Trustee Mr F Mccann Trustee -.lu -oS-loJ ALBERT STREET COMMUNITY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OFALBERT STREET COMMUNITY CENTRE LIMrrED Opinion We have audited the financial statements of Albert Street Community Centre Limited (the 'charity') for the year ended 31 May 2023 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including a summary of significant accounting policies. The financial reporiing framework that has been applied in their preparation is applicable law and Untied Kingdom Accounling Standards. including Financial Reporting Standard 102 The Financial Repotbng Standard applicable in the UK and Republic of Ireland (United Kingdom Generally A￿epted Accounting Practice). In our opinion. the finanoal ststements= give a true and fair view of the state of the charitable companls affairs as at 31 May 2023 and of its incoming resources and application of resources. induding its income and expenditure, for the year then ended; hav8 b88n properly prepared in accordance with United Kingdom G8nerally Accepted Accounts'ng Practice: and have been prapared in accordance with the requirements of the Companies Act 2006. Basis for opinlon We conducted our audtt in accordance with Intemational Stsndards on Auditing (UK) (ISAS (UK)) and applicable law. Our resF)onsibilities under those stsndards are further described in the Auditoffs responsibilities for the audit of the financial statements section of our report. We are independent of the chartty in accordan(* with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilTlies in accordance wth these requirements. We believe that the audit evidence we have obtained is sufficlent and appropriate to provide a basis for our opinion. Concluslons relating to going con¢em In auditing the financial statements, we have concluded that the trustees. use of the going con¢em basis of accounting in the preparation of the financial staternents is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or ￿lleCtivelY. may cast significant doubt on the charity's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of fhe trustees with respect to going concem are described in the relevant sections of this report. ALBERT STREET COMMUNITY CENTRE LIMITED INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE MEMBERS OFALBERT STREET COMMUNITY CENTRE LIMrrED Other infomiation The other infomiation comprises the information induded in the annual report other than the financial statements and our auditots report thereon. The trustees are responsible for the other information contained wilhin the annual report. Our opinion on the financial ststements does not cover the other information and. except to the extent otherwise explicilly stated in our report, we do not express any form of assurance condusion thereon. Our responsibility is to read the other information and. in doing so. consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otherwise appears to be materially misstated. If we identify suth material inconsistencies or apparent material misststements, we are required to detemiine whether this gives rise to a material misstatement in the financial statements themselves. If, based on th8 work we have performed. we condude that there is a material misstst8rnent of this other infomiation, W8 are required to report Ihat fact. We hav9 nothing to report in Ihis regard. Oplnlons on other matters prescribed by the Companles Ad 2006 In our opinion, based on the work undertaken in the course of our audil: the infomation given in the trust88s' report for the financlal year for which the financial statem8nts arè prepared, which includes the directors, re[￿rt prepared for th8 purposes of company law. is consistent with tha financial statements., and the directors. report induded wthin the trustees, report has been prepared in accordance with applicable legal requirèments. Matters on whlch wa are rèqulred to report by exceptlon In the light of the knowledge and undersLgnding of the charity and its environment obtained in the course of the audit. we have not idenbfied material misststements in the directors. report included within the trustees, reporL We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you rf, in our opinion.. adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and retums.. or certain disclosures of trustees. remuneration specffied by law are rM)t made", or we have not received all the infomiation and explanations we require for our audit" or the tnjstees were not entitled lo prepare the financial statements in accordance with the small cofflpanies regime and take advantage of the small ￿mPanies. exemptions in preparing the trustees. report and from the requirement to prepare a strategic reporL ALBERT STREET COMMUNITY CENTRE LIMITED INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE MEMBERS OF ALBERT STREET COMMUNITY CENTRE LIMITED Re5ponslbilities of trustees As explained more fully in the statemenl of trustees. responsibilities. the trustees. who are also the directors of the chartty for the purpose of company law. are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees detennine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial ststements. the trustees ar8 responsible for assessing the Charity's ability to conlinue as a going concem, disdosing, as applicable. matters related lo going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable CA)mpany or to cease operations, or have no realistic altemative but to do so. Audltor's r8sponsiblllti8s for the audit of the financlal ststements Our objectives a￿ to obtsin reasonable assuran￿ about whether the financial statements as a whol8 are free from material misstatement. whether due to fraud or error, and to ISSU8 an auditorfs report thal indudes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and aré considered material rf, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on Ihe basis of these financial statements. The extent to vthich our procedures arè capable of d8tecting irregularities. induding fraud, is detailed below. ALBERT STREET COMMUNITY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ALBERT STREET COMMUNITY CENTRE LIMITED Extent to which the audit was considered capable of detecting irregularities. including fraud We identify and assess the risks of material misstatement of the financial statements. whether due to fraud or error. and then design and perform audit procedures responsive to those risks. induding obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In idenlifying and assessing potential risks of material misstatement in respect of irregularities, including fraud and non-complian￿$ with laws and regulations. we considered the followtng: The nature of the industry and sector, control environment and business perfonnance, including the company's rèmuneration policies for directors, bonus levels and perfonnance targets, if any. Results of our enquiries of management about their own identification and assessment of the risks of irregularities. Any matters we identtfied having obtained and revi8wed th8 company's documentation of their policies and procedures relating to: Identifylng. evaluating and comptybng wilh laws and regulations and whether they were aware of any instance of norlwcompliance: Detecting and responding to the risks of fraud and whether they have knob￿edge of any actual, suspected or alleged fraud. and The intemal controls established to mibgate risks of fraud or non-compliance with laws and regulations. The matters discussed among the audit engagement team regarding how and where fraud might occur in the finanGial statements and potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentiv8S that may exist within the company for fraud and identified the great8st potential for fraud in revenue recognition. In common with all audits under ISAS (UK), we are also required to perfom Speci￿ procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on prowsions of those laws and regulations that had a direct effect on the deterniination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context induded the Companies Act 2006, and local tax legislation. In addition, V￿ considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the ￿mpanY'S ability to operate or to avoid a material penalty- ALBERT STREET COMMUNITY CENTRE LIMITED INDEPENDENT AUDtroR'S REPORT (CONTINUED) TO THE MEMBERS OF ALBERT STREET COMMUNITY CENTRE LIMrrED Audit response to risks identlfied Our procedures to respond to the risks identified induded the following: Reviewing the financial ststement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a dired effect on the financial statements: Enquiring of management Con￿mIng actual and potential litigation arKI claims,. Perfoming analytical procedures to identtfy any unusual or unexpected relationships that may indicate risks of material misststement due to fraud,. Reading minutes of meetings of those tharg8d governance and reviewing correspondence with tax authorities: and In addressing the risk of fraud through management override of controls. testing the appropriateness of joumal entries and other adjustments: assessing whether the judgements made in making accounting estimates are indicative of a potential bias. and evaluating the buslness rationale of any slgntficant transactions that are unusual or outside the nomial course of business. We also communicated r8levant id8nbfied laws and regulations and potential fraud risks to all engag8ment team members and remained alert to any indicatDns of fraud or nonwcornplianc8 laws and r8gulations throughout th8 audit. Owing to the inherent limitations of an audit, there is an unavoidable rfsk that we may not have detected some material misstatements in the financial statements. even though we have properly planned and perfonned our audit in accordance with audiling standards. In addition. as viith any audit, there remains a higher risk of non-detection of irregularities. as they may involve collusion, forgery. intentional omissions, misrepresentations, or the override of intemal controls. We are not responsible for preventing non-compliance and cannot be expecied to detect non- complianGe with all laws and regulations. ALBERT STREET COMMUNITY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OFALBERT STREET COMMUNITY CENTRE LIMITED Use of our report This report is made Sole￿ to the charitsble CoMpan￿S members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has b￿n undertaken so that we might state to the charitsble companW5 members those matters V￿ are required to state to them in an audttorfs report and for no other purpose. To the fullest extent pernitted by law, we do not accept or assume responsibilty to anyone other than the charitable company and th8 charitable company's members as a body. for our audit work. for this report, or for the opinions we have fomied. Mr Nigal Moore FCA (Senior Statutory Auditor) for and on behalf of GMCG BELFAST Chartered Accountants statutory Audltor Chart8red Accountsnts & Statutory Auditor Alfred Housa 19 Alfred Str8et Belfast BT2 8EQ 10- ALBERT STREET COMMUNITY CENTRE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY2023 Unrestricted Restrfcted funds funds 2023 2023 Total Unrestrlcted Restricted funds funds 2022 2022 Total 2023 2022 Notes Income from: Donations and legacies Charitable activities Investments 6.763 383,080 6,763 488,869 2.884 369.967 2,884 474,687 58 105,789 104,720 Total income 389.843 105.789 495.632 372,909 104,720 477.629 endlture on: Charitable aclivities 389.632 105.638 495,270 382.040 107,875 489,915 Gross transfers botwe8n funds Net In¢omel{expendlture) for the yearl Net movement In funds {17,301} 17.301 211 151 362 (26,432) 14,146 (12.286) Fund balances at 1 Jun8 2022 81.424 314.629 396.053 107.856 300,483 408,339 Fund balances at 31 May 2023 81,635 314,780 396,415 81,424 314,629 396,053 The statement of financial activities indudes all gatns and losses recogni5ed in the year. All income arKI expenditure derive from continuing aclivities. The statement of financtal aclivities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 11 ALBERT STREET COMMUNITY CENTRE LIMITED BALANCE SHEET AS AT 31 MAY 2023 2023 2022 Flxed assets Tangible assets 12 255,379 269,009 Current assets Debtors Cash at bank and in hand 13 31.834 130,973 27,644 133,655 162.807 161.299 Credltors: amounts falling due within one year 14 (21.771) (34,255) Net current assets 141,036 127,044 Total assets less current Ilabllltles 396,415 396,053 Income funds Restricted funds Unrestrict8d funds 16 314,780 81,635 314,629 81,424 396,415 396,053 The financial statements were approved by the Trustees o Mr D Power Trustee Mr F Mccann Trustee Company registration number N1036145 12- ALBERT STREET COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023 Accounting policles Charity information bert street Community Centre Limited is a private company lirnited by guarantee incorporated in Northern Ireland. The registered office is 106 Albert Street. BelFast. BT12 4HL. 1.1 Accovnting convention The financial statements have been prepared in accordance with the charitys Arkndes of Association. the Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practi 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 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the prowsions in the SORP tr charitses applwng FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling. vthich is the functional currency of the charity. Monetsry arnounls in these finanaal statements are rounded to the nearest £. Th8 financial statements have been prepared under the historical cost convention. The principal accounting poIici8s adopted are set out below. 1.2 Golng concem Th8S8 financial statements have b88n prepared on a going concem basis. The directors and management continue to make every effort lo sourc8 new funding for the charity with a number of applications currently in progress. Certain sources of funding have been secured until 2024-25 financial year. Based on Infomiation re￿Ived to date, the directots do not expect there to be any slgniflcant drop in the level of income for the period to May 2025. It should be noted that the tharity also has the benefit of regular income in the lomi of rental income. Th8 directors are of the opinion Ihat the charity has adequate resources to continue in operation for at least the next Iwelve months and that tt is appropriate for the financial slatemènts for the year ended 31 May 2023 to be prepared on a going concem basis. 1.3 Charitable funds Unreslricted funds are available for use at the discretion of the trustees in furtheran￿ of their charitable objeclives. Restricted funds are subject to specific c<)nditions by donors as to how they may be used. The purposes and uses of the restricted fijnds are set out in the notes to the financial statements. Investment incorne. gains and l¢)sses are allocated to the appropriate fund. 1.4 Incoming resources Income is recognised when the charity is legally entitled lo it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income wll be received. Cash donations are recognise(l on receipt. other donations are recognised once the charity has been notified of the donation. unless perfomiance 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. Assets for distribution are recognised onty when distribuled. Assets given for use by the charity are recognised when receivable. Sloths of undistributed donated goods are r￿1 valued for balance sheet purposes. 13- ALBERT STREET COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023 Accounting policies (Continued) 1.5 Resources expended Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to third party. it is probable that a trdnsfer of economic beneffts will be required in setuement. and the amount of the obligation can be measured reliably. Expenditure is dassified by adivty. The costs of each activity are made up of the total of direct costs and shared costs, including support costs invobved in undertaking each activity. Direct costs attributable to a single activity are allocated direclly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activty are apportioned beiween those activities on a basis consistent with the use of resources. Central staff costs are all¢)cated on the basis of time spent. and depreciation charges are allocated on the portion of the asset's use. Support Costs are those costs incurred directly in support of expendtiure on the objects of the charity. Charitable activities and G0Veman￿ ojsts are costs incurred on the tharivs operations. including support osts and costs relating to the govemance of the charity apportioned to tharitable activities. All 8xpenditure is inclusive of irrecoverable VAT. 1.6 Tangibla fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, nèt of depreGiation and any Impaimient losses. Depreciation is recognisad so as lo write off the cost or valuation of assets less their residual values over their useful lives on the foll¢)wlng bases: Leasehold land and buildings Fixtures and fittings Computers 2% per annum straight line 150fi per annum reducing balancé 25% per annum reducing balance The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale proceeds and the carrying value of Ihe asset. and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporknng end date. the charity revIeV￿ the caryng amounts of tis tangible assets lo detemine whether there is any indication that those assets have suffered an impaimient loss. If any such indication exists. the recoverable amount of the asset is estimated in order to detemiine the extent of the impaimient loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call with banks. other short-temi liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabililies. 1.9 Flnanclal instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitys balance sheel when the charity becomes party to the contractual provisions of the instrument. Financjal assets and liabilities are offset. with the net amounts prwaentsd in the financial ststements, when there is a legally enforceable right to set off the rewgnised amounts and there is an int8ntion to settle on a n8t basis or to realise the asset and settle the liability simultaneously. 14- ALBERT STREET COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023 Accounting policies (Continued) Basic financlal assets BasiG financial assets. which indude debtors and cash and bank balan￿s, are initially measured at transaction price induding transaclion 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 al the present value of the future receipts discounted at a market rate of interest Financial assets classrfied as receivable within one year are not amortised. Baslc financial liath"lities Basic financial liabilities. induding creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, vthere the debt instrument is measured at the present value of the future payments discounted at a market rate of interesL Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequenty C￿rrIed at amortised cost. using the effedive interest rate method. Trade creditors are obligab'ons to pay for goods or services that have been acquired in the ordinary course of OP8ralions from suppliers. Amounts payabl8 are dassified as current liabilities if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at transactii)n price and subsequendy measured at amortised cost using the eff8ctive interast method. Derecognltlon of financlal liabllftles Financial liabilities are derecognised when the chariws contractual obligations expire or are discharged or cancelled. 1.10 Ratlrement beneflts Payments to definéd contribution retirement benefit schemes are charged as an ex￿nSe as they fall due. 1.11 Leases Rentals payable under operating leases. induding any lease incentives received, are charged as an expense on a straight line basis over the temi of tha relevant lease. 15- ALBERT STREET COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2023 Crftlcal accounting estlmates and Judgements In the application of the chaiivs accounting policies. the trustees are required to make judgements. estimates and assumptions about the carrying amount of assets 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. Aciual 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 rewsion arKI future periods where the revision affects both current and future periods. Key sources of estimallon uncertainty Fixed Assets - The annual depreciation charge on fixed assets depends primarily on the estirnated lives of each type of asset and estimates of residual values. The directors regularly review these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets con￿rned. Changes in asset lives can have a significant irnpact on depr8Ctation charges for the period. Details of the useful lives is induded in the accounting policies abov8. Debtors - Short temi debtors are measured at transaction pri￿. less any impairrnenL Impaiment of such debtors involves some estimation uncertainty. Donatlons and legacies Unrastrlcted funds Total 2023 2022 Donations and grfts 6,763 2.884 6,763 2,884 Investments Total Unrestricted funds 2023 2022 Interest receivable 58 16- ALBERT STREET COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MAY 2023 Charitable actlvltles Op•ratlon of Communlty C•ntr• 2023 H.E.AR.T. Pmjèct P•remo Travoll•r Project Int•rvontion Programm• 2023 Soclal Pr•scrlblng Programm• 2023 Total 2023 Total 2022 2023 2023 Performance related grants Charitable rental Income Olher Income Less.. d8ferred income 133,783 65,293 45,082 (3791 81,856 47,630 41,332 304,601 269,558 65,293 57.196 119,354 144.521 13791 3.412 73,566 706 243.779 155,422 706 47,630 41,332 488.869 474,687 Analysis by fund Unrestrlcted funds R8Strlcted funds 243,779 91,671 63,751 47.630 383,080 369,967 105,789 104.720 706 41,332 243,779 155,422 706 47,630 41,332 488,869 474.687 For the year ended 31 May 2022 Unrestricted funds Resttictsd funds 209,517 115,705 63,388 44,745 369,967 104,720 41,332 209,517 179,093 44,745 41,332 474,687 17- ALBERT STREET COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2023 Charltable acllvities Communlty H.E.A.ILT. Traveller Social Centre Project Intervention Prescribing Programmo Programme 2023 2023 Total 2023 Totsl 2022 2023 2023 Staff costs Depreciation and irnpaimient Staff training Training beneficiari8S Insurance Heat & light Travel & subsistence Other programme costs Postag8. ststionery & telephon8 Hire of equipment Profèssional fees Bank fees Sundry expenses 142.438 34.778 28.539 21.653 227,408 220,602 6.392 1.141 49.729 6,280 38.408 5.729 626 861 27 7,280 1.141 65.122 6,280 38,408 5,729 626 7,978 1,484 87,500 5.825 29.203 3.527 562 15,393 5.020 814 4,953 683 9.075 5,020 814 4,953 683 9.075 4,712 814 3,377 555 7,235 271,288 51.032 28.539 21.680 372,539 373,374 Share of support costs (see note 7) Share of govemance costs (see note 7) 62,791 12.492 6.552 5.440 87,275 80.862 22.347 6,462 3.007 35,456 35,679 356.426 69,986 38.731 30,127 495,270 489,915 Analysis by fund Unrestricted funds Restricted funds 346,332 10,094 4.569 65.417 38.731 389.632 105,638 382.040 107,875 30.127 356.426 69,986 38.731 30.127 495.270 489.915 For the year ended 31 May 2022 Unrestricted funds 323.578 Restricted funds 11.363 20,146 63.707 38.316 382,040 107,875 32.805 334.941 83,853 38.316 32.805 489,915 18- ALBERT STREET COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2023 Support costs Support Governance costs costs 2023 Support Governance costs costs 2022 Staff costs Depreciation staff training Insurance Heat & light Postage, stationery & telephone Sundry expenses 53,241 7,280 129 6,280 9.602 29.579 82,820 7,280 129 6.280 9.602 50,974 7.979 371 5,825 7.300 28.319 79,293 7,979 371 5,825 7,300 1.476 9.267 1.476 9.267 1.178 7,235 1,178 7.235 Audit fee5 Oiher professional fees 5.280 2,080 5,280 2,080 333 333 87.275 35,456 122.731 80.862 35,679 116,541 Analysed beiween Charilable activities 87.275 35.456 122.731 80.862 35,679 116,541 Govemance costs indudes payments to the auditors of £5.544 {2022- £5,280} for audit feès. 2023 Net movoment in funds 2022 N8t movement in funds is stated after chargingl(crediting) Fees payable to the company's auditor for the audit of the companYs finanryal statements Depreciation of own8d tangible fixed assets 5,280 15,957 14.560 Trustees None of the trustees (or any persons connected with them) received any remuneration during the year. One trustee was reimbursed a total of £2,160 travelling expenses {2022- £903). 10 Employees The average monthly number of employees during the year was= 2023 Number 2022 Number 19- ALBERT STREET COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2023 10 Employees (Continued) Employment costs 2023 2022 Wages and salaries Social security costs Other pension LX)sts 267,242 28,527 14.459 258,055 25,132 16,708 310,228 299.895 There were no employees whose annual remuneration was more than £60,000. 11 Taxatlon The Charity is exempt from tsx on incJ)me and gains falling wlthin section 505 of the Taxes Act 1988 or Section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to tts charitable objects. 12 Tangible fixèd assets L•auhold FlxtUTes and Computsr¥ land fftllng¥ bulldlngs Total Cost At 1 June 2022 Addidons 368.277 190,913 930 34.604 593,794 930 At 31 May 2023 368.277 191.843 34.604 594,724 Depreciation and Impairnient At 1 June 2022 Depreciation charged in the year 137.522 7.366 166,154 3.818 21,109 3,376 324,785 14,560 Al 31 May 2023 144.888 169.972 24,485 339.345 Carrylng amount At 31 May 2023 223.389 21.871 10.119 255,379 At 31 May 2022 230.755 24,759 13,495 269.009 13 Debtors 2023 2022 Amounts falling due wlthln one year. Other debtors Prepayments and accrued income 11,626 20,208 9.390 18,254 31.834 27,644 -20- ALBERT STREET COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MAY 2023 14 Creditors: amounts falling due within one year 2023 2022 Deferred income Other creditors Accrnals and deferred income 15 9.998 9.619 121 24,515 11.773 21.771 34,255 15 Deferrod Income 2023 2022 Arising from deferred grant income 9,998 9,619 Deferred income is included in the financial statements as follows: 2023 2022 Deferred income is induded within: Current liabilities 9,998 9,619 Movements in the year. Deferred incom8 at 1 June 2022 Released from previous periods Resources deferred in the year 9,619 (9.619) 9,998 13,031 (13,031) 9,619 Deferred income at 31 May 2023 9,998 9,619 The deferred income arises in resp8Ct of income being received in the year whith relates to a future accounting period and in resped of income received in the year where conditions for recognits'on have not yet been satisfied. The income will be released to the Statement of Financial Activities in the period to which it relates. 21- ALBERT STREET COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023 16 Restricted funds Movément In funds Incom• Exp•ndlturn Movement In funds In¢ome ExpendltuT• Balance at 31 May 2023 Balanc• at 1 Juno 2021 Trnn81•rn 8•lanc• at 1 Jun• 2022 Property Lease Albert st. Comm Centre (ASCC) HABIT Suite Information Point Website H.E.A.R.T. Project Protect Life Men's Health Life Coaching and Nutridon Programma Wheely Inclusive Cycling Programme Sur8Start- capltal grant Halifax - capital grant MacmSllan Big Lottery Fund Social Prescribing Wami, Well & Connécted Healthwise MDT Hypertenslon 173,973 1,875 44.049 29,904 75 (2,016) 11,732 1,286 1,236 3.937 3,352 1.777 80 4.518 10,404 14,301 (5,528) (267) {2.607) (900) (19} {51,738) (11,853) 168,445 1,608 41,442 29,004 56 12,372 12,544 15,5281 (227) (2,3501 1900) (14) (52,100) (15,393) 162,917 1,381 39,092 28,104 42 7,344 14,536 46,223 12,665 19,903 47,072 17,385 {1,286) (1,236) (578) (161) (291) 3,359 3,191 1.486 {492) 1137) (247) 2,887 3.054 1,239 (80) 4,518 33,226 12,363 4,097 4,518 18,930 13,208 4,466 41,332 127,0361 (845) (3691 41,332 (32,806) (1,0931 (34) 4,500 300,483 104,720 {107,875) 17,301 314,629 105,789 (105,6381 314,780 ALBERT STREET COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023 17 Analysis of net assets between funds Unrestricted Restricted funds funds 2023 2023 Total Unrestrictod Restrlcted funds funds 2022 2022 Total 2023 2022 Fund balan￿S at 31 May 2023 are represented by: Tangible assets Current assetsl(liabilities) 13,493 68.142 241,886 72.894 255,379 141.036 16.948 64.476 252,061 62.568 269,009 127,044 81.635 314.780 396.415 81.424 314.629 396,053 18 Financial Commitmants. guaranteès and contingent liabllltles Contlngent Ilabilities A portion of grants received may become repayable if the ¢haiity fails to CoM￿Y tha terms of the lett8rs of off8r. Penslon commitments The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The penslon cost charge represents contributions payable by the company to Ihe fund and amounted trj £14,459 (2022 - £16,708). At the balance sheèt date no amount was outstanding {2022 - £1.427). 19 Related party transactlons Remuneration of key management personnel The remuneration of key management personnel is as follows. 2023 2022 Aggregate compensation 50,010 48,796 There were no other transactions with related parties requiring disdosure. 20 Operating lease commitments At the reporting end date the charity had outstanding cornmilrnents for future minimum lease payments under non