**Charity registration number NIC103103** 

**Company registration number NI036145 (Northern Ireland)** 

## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024** 



## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

**Trustees** Mr D Power Mr G Fusco Mr F McCann Mr T Rocks Mr M Voyle Mrs C Neill (Appointed 15 January 2025) **Charity number** NIC103103 **Company number** NI036145 **Principal address** Maureen Sheehan Centre 106 Albert Street Belfast BT12 4HL **Registered office** 106 Albert Street Belfast BT12 4HL **Auditor** GMcG BELFAST Chartered Accountants & Statutory Auditor Alfred House 19 Alfred Street Belfast BT2 8EQ **Bankers** Danske Bank Donegall Square West Belfast BT1 6JS **Solicitors** Murphy O'Rawe Scottish Provident Building 4th Floor 7 Donegall Square West Belfast BT1 6JF 



## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **CONTENTS** 

||**Page**|
|---|---|
|Trustees' report|1 - 4|
|Independent auditor's report|5 - 10|
|Statement of financial activities|11|
|Balance sheet|12|
|Notes to the financial statements|13 - 26|





## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MAY 2024** 

The trustees present their report and the audited financial statements for the year ended 31 May 2024. 

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles of Association, 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 1 January 2019). 

## **Objectives and activities** 

The Trustees have taken cognisance of the Charity Commission for Northern Ireland's guidance on public benefit as defined in the Charities Act (Northern Ireland) 2008. The mission of the charity is to improve the physical and mental wellbeing of people in the Falls Ward by tackling key causes and effects of stress through a sustainable partnership of public agencies, community groups and voluntary organisations. This is to be achieved by fulfilling the following key objectives: 

(i) to enhance the health related skills and knowledge of local people and involve them in project delivery and evaluation; 

(ii) to provide information, advice and referral services which empower people to make positive decisions about their health; 

(iii) to provide and ensure access to education projects which improve the physical health and mental wellbeing of targeted groups; 

(iv) to develop and facilitate community, voluntary and self-help activity which contributes to a healthier community; and 

(v) to offer cancer, cardiac, stroke and diabetes rehab programmes under the Healthwise Scheme. 

In practice, this translates to two core areas in which the charity is engaged: 

(i) The operation of the Albert Street Community Centre facility, which provides the community with a range of services from community based groups who lease units in the Centre from the charity. 

(ii) The operation of the HEART Project which has been funded by the Public Health Agency(PHA) from January 2011 to date. The project was developed to provide the following: 

- information, advice and referral services which allow people to make positive decisions about their health; 

- access to education projects and courses; 

- developing self help activity which improves the physical health and mental wellbeing of people and contributes to a healthier community; 

- offer accredited training to the unemployed and under employed to assist in securing employment; 

- provide health checks in local communities and workplace settings; and 

- a mentoring programme aimed at vulnerable people to help them set goals for their future. Providing training and support such as counselling under the Communities in Transition Programme (CIT). 

- 1 - 



## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024** 

## **Achievements and performance** 

The charity continues to provide high quality facilities to the community through the Community Centre complex. 

As a result of the development of the HABIT Suite, which includes state of the art gym facilities, people can now access a project of physical activity under the Healthwise Scheme such as Exercise by Referral, Cardiac Rehab, Cancer Rehab, Stroke Rehab, Pulmonary Rehab, Diabetes Rehab and Obesity Rehab. 

- The project has created an important piece of community infrastructure that facilitates other community based organisations to engage more fully in the issues of health and wellbeing. 

- Local people have been enabled to access a wide variety of screening services. 

- Many local people experiencing high blood pressure, high cholesterol and at risk of diabetes have been referred to general practitioners. 

- A large volume of health education courses have been delivered on a variety of topics including smoking, medication use, drug and alcohol misuse, diet, nutrition and sexual health. 

- Local people have been enabled to increase their level of exercise through walking club, swimming, pool therapy, tai chi, cycling, danderball, water polo, circuit training, surfing, golf, kayaking, bowling, pickleball, gardening and cooking. 

- The charity has the Wheely Inclusive Cycling Project which is aimed at all regardless of abilities or disabilities and it has specially adapted bicycles funded through Active Belfast. 

- The charity has a Brave Hearts over 50s men’s group and the Sweethearts over 50s ladies' group who can avail of a range of physical activities. 

- The charity has a Gardening Programme, 'Headin 2 Horticulture', which operates in the garden of the centre, as well as Grosvenor Road Poly Tunnel and the Frank Gillen Centre. 

- The charity is able to offer counselling and complementary therapy to those in its community at risk of suicide or self harm through the PHA's Protect Life Programme. 

- One member of staff has trained in Cardiac Rehab Phase 4, and is delivering this each week from the Maureen Sheehan Centre with referrals coming directly from Cardiac Rehab Nurses. 

- Two members of staff are trained for Cancer Rehab Phase 4 and there is a continuous programme being delivered since February 2013 in partnership with the Cancer Centre, MacMillan Cancer Services and Belfast Trust and Belfast Health Development Unit. 

- Two members of staff and one volunteer have achieved Post Graduate Certificates in Cognitive Behavioural Therapy. 

- A volunteer recently completed a Phase IV course in Neurological Conditions. 

The Traveller Intervention Programme commenced in July 2017. This programme employs two members of staff and is now in its seventh year of funding. To date the project has been very successful with the community taking part in many of the services offered by Healthy Living Centres across North and West Belfast. Services include Healthwise, Counselling, Complementary Therapies, walking and swimming groups and Tea and Talk Tuesdays. 

The charity provides a Social Prescribing Programme (SPRING) which works very closely with Connected Community Care and Multi-Disciplinary Staff. 

The Charity is a partner in the Communities in Transition Health and Wellbeing Programme which is funded through the Executive Office and is led by the Blackie River Association. It is a mentoring programme for people who live in the West Belfast Area. 

- 2 - 



## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024** 

## **Financial review** 

The results are set out on pages 11 to 26. The charity generated net expenditure of £19,364 for the year (2023 - net income of £362). At 31 May 2024 the charity had total Unrestricted Funds of £104,118 (2023 - £81,635) and total Restricted Funds of £272,933 (2023 - £314,780). 

## **Reserves Policy** 

The charity's reserves policy is to retain a level of unrestricted reserves that matches the needs of the organisation both at the current time and in the foreseeable future. The charity aims to hold reserves that are sufficient to meet committed grant expenditure and the running costs for a period equivalent to twelve weeks annual expenditure. The Board of Directors have developed a plan to establish and maintain this agreed level of reserves and will continue to monitor compliance and appropriateness of this policy on an annual basis. At 31 May 2024 the charity had free reserves of £91,770 (2023 - £68,142). This equates to approximately ten weeks of expenditure. 

## **Plans for Future Periods** 

The charity plans to continue the activities outlined above in the forthcoming years, subject to satisfactory funding arrangements. 

## **Structure, governance and management** 

The charity was established as a company under a Memorandum of Association which established the objects and powers of the company and is governed under its Articles of Association. 

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: 

Mr D Power 

Mr G Fusco Mr F McCann Mr T Rocks Mr M Voyle Mrs C Neill (Appointed 15 January 2025) 

## **Organisational Structure** 

Albert Street Community Centre Limited is governed by the Board of Trustees. Trustees are appointed so that the charity has a variety of expertise and skills from relevant sectors.  Recruitment of trustees involves a nomination from current Board Members.  A vote is then held at the next Trustee Meeting, and if successful, a subsequent appointment is offered. The Board of Trustees 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 development, 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 the Project Operational Management Group. Liz McShane is responsible for the day to day management of the charity. 

## **Risk Management** 

The Board of Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate those risks. 

- 3 - 



ALBERT STREET COMMUNrrY CENTRE LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MAY2024
Statement of trustees, responslbilfties
The trustees. who are also the directors of Ajbert Street Communty Centre Limited for the purpose of company
law, are responsible for preparing the Trustees. Report and the financial statements in accordance with
applicable law and United lfjngdom Accounting Standards {United Kingdom Generally A￿pted 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 resources and application of reSoUr￿s, including
the income and expenditure, of the charitable company for that year.
In preparing these ffinancial ststements. trustees are required to:
- select suitable accounting policies and then apply them consistently:
- observe the methods and prinuples in the Charities SORP:
- mak6 judgements and estimates that a￿ reasonable and prudent"
state whether applicable UK Accountirg Standards have been followed. subject to any material departure5
disdosed and explained in the financial statements.. and
prepare the financial statements on going concem basis unless It is inappropriate to presume that the
charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with ￿asOnable accuracy at
any time the financial position of the charity and enable them to ensure that the financial statements comply with
the Companies Act 2006. They are also responsible for safeguarding the a&%ets of the charity and henca for
tsking reasonable steps for the prevention and detectlon of fraud and other irregularitles.
Auditor
In accordance vitth the company's articles, a resolution proposing that GMCG BELFAST be ￿appOinted as
auditor of the company will be put at a General Meeting.
Small companles exemptlon
In preparing this report, the directors have taken advantage of the small companies exemptions provided by
section 415A of the Companies Act 2006.
Disc105ure of inlorniatlon to auditor
Each of the trustees has confirmed that there is no infomiation of which they are aware which is relevant to the
audit. bul of which the auditor is unaware. They have fvrther confirmed that they have taken appropriate steps to
identify such relevant infomiation and to establish that the auditor is aware of such information.
The trustees. report was approved by the Board of Trustees.
Mr D Power
Trustee
Mr M Voylo
Trustee

eHARTERED ACCOUNTANTS
ALBERT STREET COMMUNITY CENTRE LIMITED
INDEPENDENT AUOITOR'S REPORT
TO THE MEMBERS OF ALBERT STREET COMMUNITY CENTRE LIMITED
Oplnlon
We have audited the financial statements of Albert Street Community Centre Limited (the 'charity') for Ihe year
ended 31 May 2024 which comprise the Statement of financial actlvilres, the balance sheet and the notes to the
financial statements, including a surnm8ry of significant accounling policies. The financial reportlng framework Ihat
has been applièd in th&ir preparation Is applicable law and United Kingdom Accounting Standards. including
Financial Reporting Standard 102 Tho Fln8ncial Reporting Standard applicable in the UK 8nd Republic of Ireland
(Unit8d Kingdom Generally Accepted Accounth'ng Practice).
In our oplnlon, the financial Slatements:
glve a true and fair view of the state of the charitable companys affairs a$ at 31 May 2024 and of its Incoming
resources and application of resources, including ils income and expendilure, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accountlng Practice.,
and
have been prepared In accordance wilh Iho requirements of the Companles Act 2006.
Ba$18 for oplnlon
We conducted our audit in accordance with International Standards on Audiling (UK) (ISAS (UK)) and applicable
law. Our re8ponsibilrties under those stand8rd$ are further described in the Audilovs rgsponsibilitles lor Ihe audit of
the financial sl8t8rn8nts sectlon of our report, We are independent of the charity In accordance with the elhlcal
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 responsibilities in accordanco with these requiremenls. We believe
Ihat the audit evidence we have obtalnad is suffidenl and approwiale lo provide a basis for our oplnion.
Concluslon8 relatlng to golng conc•m
In atsditing the financial statements, we have conduded that the truslaes, use of tho going concem basls of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have nol identifie(l any materlal uncertaintiès relating lo events or
Condilions thal. Indlvidually or ¢o11o¢tively. may cast significant doubt on the charrty's ability to ¢ontlnue a5 a golng
conc8rn for a perlod ol al least twefve months from when Ihe financial slalemanls ale authorised for Issue,
Our responsibilities and the responslbilities of the tiuslees with respect to going concem are desulbad in the
relevant sections of this report.
Alfred House
19 Alfrtd Street
BELFAST BT* 8EQ
DX39xo NR BelfAYt 50
Cei)tury House
40 Cirscent Business Park
LISLIVRN
B'f28 2CN
17 Mandeville Street
YORTADOWN
Crni&2von
1.62 3PB
Tel: +44 (0)28 9031 1113
Fa7K: +44 {0)28 91)3107n
Tel: +44 (0)28 9260 7855
Fax: +M (0)28 926u 1656
Tel.. +44 (0)28 3813 2801
Fu= +44 (0)28 3835 0293
.' p￿￿￿tr￿Au￿1¢ro.' Ch8rtemiT￿Ad￿ Fotetyl¢Aeeoutht•nts CwrK*atÈ
GM(CigAiz•thnK nameofGMLGGrtupIiThite&RrfNo.. NIos9660. Li#ofDlrertor$4¥Yl*l4E*trry5ter•loifLte
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ALBERT STREET COMMUNITY CENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE MEMBERS OF ALBERT STREET COMMUNITY CENTRE LIMITED
Oth•r Inforniatlon
The other informalion comprises the infonnatlon included in the annual report other than the financlal slalements
and our auditorfs report thereon. The Irustees are responsible for the other information contslned within the annual
report. Our opinion on the financial stalaments does nol cover the other informalion and, except to the extent
othenyise explicitly Stated in our report. we do not express any fomi of assurance conclusion thereon. Our
responsibility is to read the other informalion and. in doing so, conslder whether the othor Information is materialty
inconsistent wllh the financial ststements or our knowledge oblalned in the course of Ihe audll, or othèrwise appears
to be materially misstat8d. If we identify such maleTial inconsistencies or apparent malerlal misslalements. we are
requlred lo detemilne whether this gives rlse to a material misstatement in the financial $tat@ments themselves. If.
based on lh8 work we have performed, we conclude that there is a material misstatement of this other inforrnalion.
we afe required to report that fact,
We hava nothlng to report in this regard.
Oplnlons on other matter8 prn•¢rfb•d by tho Companle• Aet 2006
In our opinion. based on the work undertaken In the ¢our5e of our audtt..
the infomiation given In Ihe trustees. report for the financial year for which the financial statements are
prepared, which Includes the directors, report prepared for the Pufposes of company law, is con8151ent with the
financial statements.. and
the directors, report Included within the Irustees, report has been prepared In accordance with applicabla legal
quiremenl$.
Mattor• on whlch w• ar• r•qulr•d to report by •x¢•pllon
In the light of the knowledge and understanding of the charily and ils environment obtained in the Course of the
audit, we have not idenlified material rni55tatements In the directors, report included within the trustees. report.
We have nothing to report in respect ol the following maltei$ In relation lo which the Companies Acl 2006 requir08
us lo report to you if. in our opin￿n.
adequate accounling record$ have not been kept. or relums adequate for our audit have not been recelved
Irom branches not visited by us; or
the financial stal8menls are nol in agreement wilh Ihe accounting records and relums; or
certaln disclosures of trustees. remuneration specified by law are not made; or
we have not received all the infoimalion and explanations wé requlre for our audit; or
the truste8s were not entitled to piepare the financial stalemenls In accordance with Ihe small eompanles
regime and take advanlage of the small companies, exemptions In prepaiing the twstee$' roport and from the
requirem•nl to prepare a slrategic report.

ALBERT STREET COMMUNITY CENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ALBERT STREET COMMUNITY CENTRE LIMITED
Respon3lblllll8¥ ol tru•tees
As explaine(I more fulty in the 8tal8ment of trustees. respon8ibilities. the trustees. who are also the directors of the
charily for the purpose of company law, are responsible for the preparalion of the financial statements and for belng
satIs￿d that they give a Irue and fair view. and for such Internal control as the trustees determine is necessary to
enabl8 Ihe preparation ol financial statements that are free from mal8wlal mlsslatemenl, whelhei due to fraud or
error. In preparing the financial stalements, the truslees are responsible lor assessing the charty's abllity to
continue as a going conc6m. discloslng, as applicable, mattels related to going concem and using th8 going
concern basis of accounting unless the trusteès either intend lo liquidale the charitable company or to ￿8$e
operations. or have no realistic altemative bul to do so.
Audltorfs M8pon8lbllltle• for the audlt of th• financlal 8tat•m•nt8
Our objectlves are to obtaln reasonable assurance aboul whether the financlal statements as a whole are free from
material mlsslatemént, whether due to fraud or error, and to issue an audllorfs report thal Includes Ouf opinlon.
Reasonable assurance is a high lev81 of assurance bul is not a guarantee that an audit conducted In accordance
with ISAS (UK) will always delect a material mi$slalem8nt when il exists, Mlsslatements can arlse from fraud or
error and are considered material if. individually or in tha aggregate, they Could reasonably be expected to influence
the economlc decisions of users taken on the basis of Ihese financial slatemenls.
The extant lo which our procedures are capable of detecting Irwularlties, including fraud, is detailed below.

ALBERT STREET COMMUNITY CENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE MEMBERS OF ALBERT STREET COMMUNITY CENTRE LIMITED
Ext•nt to whl¢h th¢ audlt was con•ld•rad capablè of detectlng Irregularltlfjs, Includlng fraud
IN8 identify and assess the risks of materlal misstatement of Ihe financial stalem8nts, whether due lo fraud or error,
and then design and perform audit procedures responsive to tIKJse risks. induding obtaining audit evidence that is
sufficlent and appropriate to provida a basis for oui opinion.
In idenlifying and assessing Potential risks ol material misslat8ment In respect of Irregularltles. including fraud and
non-compliances with laws and regulalions, we considered the following..
The nalure of the Industry and sector, control environment and business performance, induding the
company's remuneration polic4es for dlreclors. bonus18vels and performance targets, if any;
Results ol our enqulries of management about their own identification and asséssm&nl ol the rlsks of
irregularrties:
Any matlers we idenlified having obtained and reviewed the company'8 documentation of thelr policies and
procedures relating lo..
Identifying. •valuatlng and ¢omplylng wllh laws and regulations and whether they We￿ aware of
any instanc8 of non4ompliance;
Oeteclino and respondin9 to Ihe risks of fraud and whalhor they have knowledge of any actual.
suspected or alleged fraud,. and
The intemal controls established to mitlgate rlsks of fraud or non-compliance with laws and
gulations.,
Tha matters discussed among ihe audlt engagement team regarding how and where fraud might occur In
the financial statements and potentlal Indic8tOfS of fraud.
A$ a ￿sUIt of these pror*dures, we considered the oppoilunllles and incentivas that may exist within th8 company
for fraud and identified the greatest potential for fraud in revenue recognition. In common wlth all audits under ISA$
(UK), we are also r8qulred lo perform $p•clfic procedures to respond lo the wisk of management override.
We al80 oblained an understanding of the legal and regulatory frameworks that the company operates in, fo¢u8ing
on provlsions of those laws and regulations thal had a direci effect on the deteimination of material amounts and
disclosures in the financial slatements. The key laws and regulations we considered In thls conlexl included the
Companies Act 20(6, and local taXI￿l$lati0n.
In addition, we consldewed provisions of other laws and regulatlons that do nol hava a dlracl effect on the financlal
statements but cornpliance with which may be fundamenlal to the Company's ability to operate or to avoid a malerlal
penalty.

ALBERT STREET COMMUNITY CENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ALBERT STREET COMMUNITY CENTRE LIMITED
Audlt r•$pon8• to rllks Id•ntlflad
Our procedures to respond to the risks identified included the follt)wing:
Reviewing the financial Slalement disdosures and testing lo Supportlng documentation to assess
compliance with provisions of relevant laws and regulations described as having a direct effect on th8
financial statements;
Enquiring of managemenl concemlng actual and potentlal litigation and daims;
Performing analyllcal procedures to Identify any unusual or unexpected relationships that may indicate
risks of material misstatemenl due lo Iraud.,
Reading minutes of meetings of those charged with govemance and reviewing correspondence with lax
authorities; and
In addressing the risk of fraud through management Override ol conlrols, lesting the approprialeness of
journal entries and other adjuslmenls,. assessing whether the judgements made in making accounling
estlmates are indicalive ol a polenlial bias; and evaluating the business rationale of any significant
transactions that are unusual or outslde the normal course of busin88S.
Vle also ￿mmunIcated relevanl identified laws and regulations and potential traud risks to all engagement team
members and remained alert to any indications of fraud or non-compllance with laws and r6gulation5 Ihroughout the
audit.
Owing to the inherent limitalions of an audit. there Is an unavoidable rlsk that we may not have detected some
material misstatements in the financial stalemenls, even though we have propety planned and performed our audit
in accordance with audiling 81andards. In addilion, as with any audit, there remains a higher risk of non4lelection of
irregularities, as Ihey may Involve collusion. lorgery, intentional omisslons, misrepresentations, or the ovefride of
internal controls. Wè are not.fesponsibl8 for preventing non.compllance and cannot be expected lo detect non-
compliance wlth all laws and regulations.

ALBERT STREET COMMUNITY CENTRE LIMrrED
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE MEMBERS OF ALBERT STREET COMMUNITY CENTRE LIMITED
U*• of our r•port
This report is made solety lo Ihe charitable companvs members, as a body. in a¢cordanc6 with Chapier 3 of Part 16
of the CompaniesAct 2006. Our audit work has been undertaken so that we might slate to the charitable company's
members Ihose matters we are required to state to Ihem in an audilorfs Teport and for no olher purpose. To the
fu1185t ext8nl permltted by law, V￿ do not accepl or assume resp¢Jnsibility to anyone other than the charitable
company and the charitable company's members as a body, lor our audit work, for this report, or for the opinions we
have formed.
TrNlgel
FCA (Senlor Slatutory Audltor)
for and on behall of GM¢G BELFAST
zE'z.Es
Chartfjrod Accountantg
Statutory Audltor
Chartered Accountsnts & Statutory
Audltor
Alfred House
19 Allred Street
Belfast
BT2 8EQ
10-

## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** 

## **FOR THE YEAR ENDED 31 MAY 2024** 

|**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2024**<br>**2024**<br>**Notes**<br>**£**<br>**£**<br>**Income from:**<br>Donations and legacies<br>**3**<br>7,376<br>-<br>Charitable activities<br>**4**<br>378,632<br>74,087<br>**Total income**<br>386,008<br>74,087<br>**Expenditure on:**<br>Charitable activities<br>**5**<br>363,525<br>115,934<br>**Total expenditure**<br>363,525<br>115,934<br>**Net income/(expenditure) and**<br>**movement in funds**<br>22,483<br>(41,847)<br>**Reconciliation of funds:**<br>Fund balances at 1 June 2023<br>81,635<br>314,780<br>**Fund balances at 31 May**<br>**2024**<br>104,118<br>272,933|**Total**<br>**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2024**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>**£**<br>7,376<br>6,763<br>-<br>452,719<br>383,080<br>105,789<br>460,095<br>389,843<br>105,789<br>479,459<br>389,632<br>105,638<br>479,459<br>389,632<br>105,638<br>(19,364)<br>211<br>151<br>396,415<br>81,424<br>314,629<br>377,051<br>81,635<br>314,780|**Total**<br>**2023**<br>**£**<br>6,763<br>488,869|
|---|---|---|
|||495,632<br>495,270|
|||495,270|
|||362<br>396,053|
|||396,415|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

- 11 - 



ALBERT STREET COMMUNITY CENTRE LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
2024
2023
Notes
Flxed assets
Tangible assets
11
243.056
255.379
Current assets
Debtors
Cash at bank and in hand
12
29,390
137.525
31.834
130,973
166.915
Creditors: amounts falllng due within
one year
162.807
13
(32.920)
(21,771)
Net current assots
133.995
141.036
Total assets loss current Ilabilitios
377.051
396.415
Net assets oxcludlng pension Ilability
377,051
396,415
Tho funds of the ¢harlty
Restricted income funds
Unrestrioted funds
16
272,933
104,118
314,780
81.635
377.051
396,415
28.02.25
Th8 financial statements were approved by the trustees on .........................
Mr D Power
Trustee
Mr M Voyle
Trustee
Company regislration number N1036145 (Northem Ireland)
12-

**ALBERT STREET COMMUNITY CENTRE LIMITED** 

**NOTES TO THE  FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024** 

## **1 Accounting policies** 

## **Charity information** 

Albert Street Community Centre Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 106 Albert Street, Belfast, BT12 4HL. 

## **1.1 Accounting convention** 

The financial statements have been prepared in accordance with the charity's Articles of Association,  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 1 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 1 not to prepare a Statement of Cash Flows. 

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 

## **1.2 Going concern** 

These financial statements have been prepared on a going concern basis. 

The directors and management continue to make every effort to source new funding for the charity with a number of applications currently in progress. Certain sources of funding have been secured until 2025-26 financial year. Based on information received to date, the directors do not expect there to be any significant drop in the level of income for the period to May 2026. It should be noted that the charity also has the benefit of regular income in the form of rental income. 

The directors are of the opinion that the charity has adequate resources to continue in operation for at least the next twelve months and that it is appropriate for the financial statements for the year ended 31 May 2024 to be prepared on a going concern basis. 

## **1.3 Charitable funds** 

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. 

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 

Investment income, gains and losses are allocated to the appropriate fund. 

## **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. 

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. 

Assets for distribution are recognised only when distributed. Assets given for use by the charity are recognised when receivable. Stocks of undistributed donated goods are not valued for balance sheet purposes. 

- 13 - 



## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024** 

## **1 Accounting policies (Continued)** 

## **1.5 Resources expended** 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated 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 expenditure on the objects of the charity. 

Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities. 

All expenditure is inclusive of irrecoverable VAT. 

## **1.6 Tangible fixed assets** 

Tangible fixed assets are initially measured at cost and subsequently measured 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: 

Leasehold land and buildings 2% per annum straight line Fixtures and fittings 15% per annum reducing balance Computers 25% per annum reducing balance 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 

## **1.7 Impairment of fixed assets** 

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 

## **1.8 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 months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

## **1.9 Financial 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 charity's balance sheet when the charity becomes party to the 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 intention to settle on a net 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 2024** 

## **1 Accounting policies (Continued)** 

## _**Basic financial assets**_ 

Basic financial assets, 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 assets classified as receivable within one year are not amortised. 

## _**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 is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified 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 transaction price and subsequently measured at amortised cost using the effective interest method. 

## _**Derecognition of financial liabilities**_ 

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. 

## **1.10 Retirement benefits** 

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 

## **1.11 Leases** 

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease. 

- 15 - 



## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024** 

## **2 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 assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions 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. 

## **Key sources of estimation uncertainty** 

**Fixed Assets** - The annual depreciation charge on fixed assets depends primarily on the estimated 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 concerned. Changes in asset lives can have a significant impact on depreciation charges for the period. Details of the useful lives is included in the accounting policies above. 

**Debtors** - Short term debtors are measured at transaction price, less any impairment. Impairment of such debtors involves some estimation uncertainty. 

## **3 Donations and legacies** 

|**Unrestricted**<br>**funds**<br>**2024**<br>**£**<br>Donations and gifts<br>7,376<br>7,376|Total<br>2023<br>£<br>6,763|
|---|---|
||6,763|



- 16 - 



## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024** 

## **4 Charitable activities** 

|**Operation of**<br>**Community**<br>**Centre**<br>**H.E.A.R.T.**<br>**Project**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>Performance related grants<br>138,275<br>74,507<br>Charitable rental income<br>59,531<br>-<br>Other income<br>48,133<br>71,879<br>Less: deferred income<br>(354)<br>-<br>245,585<br>146,386<br>Analysis by fund<br>Unrestricted funds<br>245,585<br>82,618<br>Restricted funds<br>-<br>63,768<br>245,585<br>146,386<br>**For the year ended 31 May 2023**<br>Unrestricted funds<br>243,779<br>91,671<br>Restricted funds<br>-<br>63,751<br>243,779<br>155,422|**Peremo**<br>**Project**<br>**Traveller**<br>**Intervention**<br>**Programme**<br>**Social**<br>**Prescribing**<br>**Programme**<br>**2024**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**£**<br>-<br>50,429<br>10,319<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>50,429<br>10,319<br>-<br>50,429<br>-<br>-<br>-<br>10,319<br>-<br>50,429<br>10,319<br>-<br>47,630<br>-<br>706<br>-<br>41,332<br>706<br>47,630<br>41,332|**Total**<br>**2024**<br>**£**<br>273,530<br>59,531<br>120,012<br>(354)<br>452,719<br>378,632<br>74,087<br>452,719|**Total**<br>**2023**<br>**£**<br>304,601<br>65,293<br>119,354<br>(379)<br>488,869<br>383,080<br>105,789<br>488,869<br>383,080<br>105,789<br>488,869|
|---|---|---|---|



- 17 - 



## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024** 

## **5 Charitable activities** 

|**Community**<br>**Centre**<br>**H.E.A.R.T.**<br>**Project**<br>**Traveller**<br>**Intervention**<br>**Programme**<br>**Social**<br>**Prescribing**<br>**Programme**<br>**2024**<br>**2024**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>Staff costs<br>131,253<br>37,611<br>27,313<br>26,639<br>Depreciation and<br>impairment<br>5,939<br>700<br>-<br>21<br>Staff training<br>149<br>-<br>-<br>-<br>Training beneficiaries<br>49,818<br>17,206<br>-<br>-<br>Insurance<br>6,574<br>-<br>-<br>-<br>Heat & light<br>34,210<br>-<br>-<br>-<br>Travel & subsistence<br>2,431<br>-<br>-<br>-<br>Other programme costs<br>766<br>-<br>-<br>-<br>Postage, stationery &<br>telephone<br>4,620<br>-<br>-<br>-<br>Hire of equipment<br>1,229<br>-<br>-<br>-<br>Professional fees<br>4,688<br>-<br>-<br>-<br>Bank fees<br>268<br>-<br>-<br>-<br>Sundry expenses<br>8,796<br>-<br>-<br>-<br>250,741<br>55,517<br>27,313<br>26,660<br>Share of support costs (see<br>note 6)<br>58,879<br>12,291<br>6,262<br>6,680<br>Share of governance costs<br>(see note 6)<br>21,498<br>6,439<br>3,479<br>3,700<br>331,118<br>74,247<br>37,054<br>37,040<br>**Analysis by fund**<br>Unrestricted funds<br>321,865<br>4,606<br>37,054<br>-<br>Restricted funds<br>9,253<br>69,641<br>-<br>37,040<br>331,118<br>74,247<br>37,054<br>37,040<br>**For the year ended 31 May 2023**<br>Unrestricted funds<br>346,332<br>4,569<br>38,731<br>-<br>Restricted funds<br>10,094<br>65,417<br>-<br>30,127<br>356,426<br>69,986<br>38,731<br>30,127|**Total**<br>**2024**<br>**£**<br>222,816<br>6,660<br>149<br>67,024<br>6,574<br>34,210<br>2,431<br>766<br>4,620<br>1,229<br>4,688<br>268<br>8,796<br>360,231<br>84,112<br>35,116<br>479,459<br>363,525<br>115,934<br>479,459|**Total**<br>**2023**<br>**£**<br>227,408<br>7,280<br>1,141<br>65,122<br>6,280<br>38,408<br>5,729<br>626<br>5,020<br>814<br>4,953<br>683<br>9,075|
|---|---|---|
|||372,539<br>87,275<br>35,456|
|||495,270|
|||389,632<br>105,638|
|||495,270|
|||389,632<br>105,638|
|||495,270|



- 18 - 



## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024** 

## **6 Support costs allocated to activities** 

|Staff costs<br>Depreciation<br>Staff Training<br>Insurance<br>Heat and Light<br>Postage, Stationery & Telephone<br>Sundry Expenses<br>Governance costs<br>**Analysed between:**<br>Albert Street Community Centre<br>HEART<br>Traveller Intervention Programme<br>Social Prescribing<br>**7**<br>**Net movement in funds**<br>The net movement in funds is stated after charging/(crediting):<br>Fees payable for the audit of the charity's financial statements<br>Depreciation of owned tangible fixed assets|**2024**<br>**£**<br>52,337<br>6,660<br>38<br>6,574<br>8,553<br>1,154<br>8,796<br>35,116<br>119,228<br>80,377<br>18,730<br>9,741<br>10,380<br>119,228<br>**2024**<br>**£**<br>6,040<br>13,320|**2023**<br>**£**<br>53,241<br>7,280<br>129<br>6,280<br>9,602<br>1,476<br>9,267<br>35,456|
|---|---|---|
|||122,731|
|||85,138<br>18,954<br>10,192<br>8,447|
|||122,731|
|||**2023**<br>**£**<br>5,544<br>14,560|



## **8 Trustees** 

None of the trustees (or any persons connected with them) received any remuneration during the year. One trustee was reimbursed a total of £1,612 travelling expenses (2023- £2,160). 

## **9 Employees** 

The average monthly number of employees during the year was: 

|**2024**|**2023**|
|---|---|
|**Number**|**Number**|
|8|9|



- 19 - 



## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024** 

|**9**<br>**Employees (Continued)**<br>**Employment costs**<br>Wages and salaries<br>Social security costs<br>Other pension costs<br>There were no employees whose annual remuneration was more than £60,000.<br>**Remuneration of key management personnel**<br>The remuneration of key management personnel was as follows:<br>Aggregate compensation|**2024**<br>**£**<br>265,357<br>25,395<br>13,477<br>304,229<br>**2024**<br>**£**<br>55,199|**2023**<br>**£**<br>267,242<br>28,527<br>14,459|
|---|---|---|
|||310,228|
|||**2023**<br>**£**<br>55,590|



## **10 Taxation** 

The charity is exempt from income tax and capital gains tax to the extent that its income and gains are applied for charitable purposes. No tax charge has arisen in the year. 

## **11 Tangible fixed assets** 

|**Leasehold**<br>**land and**<br>**buildings**<br>**Fixtures and**<br>**fittings**<br>**Computers**<br>**£**<br>**£**<br>**£**<br>**Cost**<br>At 1 June 2023<br>368,277<br>191,843<br>34,604<br>Additions<br>-<br>996<br>-<br>At 31 May 2024<br>368,277<br>192,839<br>34,604<br>**Depreciation and impairment**<br>At 1 June 2023<br>144,888<br>169,972<br>24,484<br>Depreciation charged in the year<br>7,366<br>3,423<br>2,531<br>At 31 May 2024<br>152,254<br>173,395<br>27,015<br>**Carrying amount**<br>At 31 May 2024<br>216,023<br>19,444<br>7,589<br>At 31 May 2023<br>223,389<br>21,871<br>10,119|**Total**<br>**£**<br>594,724<br>996|
|---|---|
||595,720|
||339,344<br>13,320|
||352,664|
||243,056|
||255,379|



- 20 - 



## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024** 

|**12**<br>**Debtors**<br>**Amounts falling due within one year:**<br>Other debtors<br>Prepayments and accrued income<br>**13**<br>**Creditors: amounts falling due within one year**<br>**Notes**<br>Deferred income<br>**14**<br>Accruals<br>**14**<br>**Deferred income**<br>Arising from deferred grant income<br>Deferred income is included in the financial statements as follows:<br>Deferred income is included within:<br>Current liabilities<br>Movements in the year:<br>Deferred income at 1 June 2023<br>Released from previous periods<br>Resources deferred in the year<br>Deferred income at 31 May 2024|**2024**<br>**£**<br>7,881<br>21,509<br>29,390<br>**2024**<br>**£**<br>10,352<br>22,568<br>32,920<br>**2024**<br>**£**<br>10,352<br>**2024**<br>**£**<br>10,352<br>9,998<br>(9,998)<br>10,352<br>10,352|**2023**<br>**£**<br>11,626<br>20,208<br>31,834<br>**2023**<br>**£**<br>9,998<br>11,773<br>21,771<br>**2023**<br>**£**<br>9,998<br>**2023**<br>**£**<br>9,998<br>9,619<br>(9,619)<br>9,998<br>9,998|
|---|---|---|



The deferred income arises in respect of income being received in the year which relates to a future accounting period and in respect of income received in the year where conditions for recognition 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 2024** 

|**15**|**Retirement benefit schemes**|||
|---|---|---|---|
|||**2024**|**2023**|
||**Defined contribution schemes**|**£**|**£**|
||Charge to profit or loss in respect of defined contribution schemes|13,477|14,459|



The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 

## **16 Restricted funds** 

||**At 1 June**|**Incoming**|**Resources**|**At 31 May**|
|---|---|---|---|---|
||**2023**|**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
|Property Lease|162,917|-|(5,528)|157,389|
|Albert St. Comm Centre (ASCC)|1,381|-|(192)|1,189|
|HABIT Suite|39,092|-|(2,131)|36,961|
|Information Point|28,104|-|(900)|27,204|
|Website|42|-|(11)|31|
|H.E.A.R.T. Project|7,344|47,869|(51,035)|4,178|
|Protect Life|14,536|13,899|(16,075)|12,360|
|Wheely Inclusive Cycling Programme|2,867|-|(418)|2,449|
|SureStart - capital grant|3,054|-|(116)|2,938|
|Halifax - capital grant|1,239|-|(210)|1,029|
|Big Lottery Fund|4,518|-|-|4,518|
|Social Prescribing|33,226|10,319|(37,039)|6,506|
|Warm, Well & Connected|12,363|-|(655)|11,708|
|Healthwise MDT Hypertension|4,097|-|(493)|3,604|
|Kew gardens|-|2,000|(1,131)|869|
||314,780|74,087|(115,934)|272,933|



- 22 - 



## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024** 

|**16**|**Restricted funds (Continued)**|||||
|---|---|---|---|---|---|
||**Previous year:**|**At 1 June**|**Incoming**|**Resources**|**At 31 May**|
|||**2022**|**resources**|**expended**|**2023**|
|||**£**|**£**|**£**|**£**|
||Property Lease|168,445|-|(5,528)|162,917|
||Albert St. Comm Centre (ASCC)|1,608|-|(227)|1,381|
||HABIT Suite|41,442|-|(2,350)|39,092|
||Information Point|29,004|-|(900)|28,104|
||Website|56|-|(14)|42|
||H.E.A.R.T. Project|12,372|47,072|(52,100)|7,344|
||Protect Life|12,544|17,385|(15,393)|14,536|
||Wheely Inclusive Cycling Programme|3,359|-|(492)|2,867|
||SureStart - capital grant|3,191|-|(137)|3,054|
||Halifax - capital grant|1,486|-|(247)|1,239|
||Big Lottery Fund|4,518|-|-|4,518|
||Social Prescribing|18,930|41,332|(27,036)|33,226|
||Warm, Well & Connected|13,208|-|(845)|12,363|
||Healthwise MDT Hypertension|4,466|-|(369)|4,097|
|||314,629|105,789|(105,638)|314,780|



## **17 Unrestricted funds** 

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. 

||**At 1 June**|**Incoming**|**Resources**|**At 31 May**|
|---|---|---|---|---|
||**2023**|**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
|General funds|81,635|386,008|(363,525)|104,118|
|**Previous year:**|**At 1 June**|**Incoming**|**Resources**|**At 31 May**|
||**2022**|**resources**|**expended**|**2023**|
||**£**|**£**|**£**|**£**|
|General funds|81,424|389,843|(389,632)|81,635|



- 23 - 



**ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024** 

## **18 Explanatory notes to the funds** 

## **(i) Restricted funds** 

## (a) Property Lease 

This grant was to contribute towards the purchase of a 50 year lease for the Community Centre. 

## (b) Albert Street Community Centre (ASCC) 

The initial grant was to pay for kitchen and office equipment for the Community Centre and costs in relation to the Community Health Programme. Initial funding has now ceased with occasional sundry donations being made towards kitchen and office equipment. 

## (c) HABIT Suite 

This fund represents grants towards the installation of rooms and equipment in the HABIT Suite at The Maureen Sheehan Centre. 

## (d) Information Point - North and West Belfast Health & Social Services Trust 

This funding contributed towards the cost of the information point in Albert Street Community Centre. 

- (e) Website - Eastern Health and Social Services Board 

This funding contributed towards the cost of developing a website for the H.E.A.R.T. Project. 

## (f) H.E.A.R.T. Project 

This fund pays for complementary therapies, counselling sessions, physical activity, training and events to promote healthy living. 

## (g) Protect Life 

This funding contributes towards the provision of counselling and alternative therapies for individuals within the community identified as being “at risk” and is funded by the Public Health Agency. 

## (h) Wheely Inclusive Cycling Project 

This funding represents a grant received from Belfast City Council through its Active Belfast Scheme to help promote a healthy and active lifestyle through cycling. 

## (i) SureStart - capital grant 

This funding represents a grant received from SureStart towards the purchase of chairs. 

## (j) Halifax - capital grant 

This funding represents a grant received from the Halifax Foundation for Northern Ireland towards the purchase of a box van. 

## (k) Big Lottery Fund 

This funding relates to a grant received for the Health Trainer training project. 

## (l) Social Prescribing fund 

This funding represents funds received to provide strategic and operational development of the Social Prescribing project in the Belfast area. 

- 24 - 



## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024** 

## **21 Explanatory notes to the funds (continued)** 

## (m) Warm Well Connected 

This funding was from DFC and was part of a much bigger funding package. The purpose of the funding we received was to encourage people to stay connected. It was to supply tablets and an initial amount of wifi to older people so that they could stay connected to their families/friends/social groups. They all signed a disclaimer to say that once the tablet was handed over to them it became their responsibility and was no longer the responsibility of the HEART Project. 

## (n) Healthwise Plus – Hypertension MDT Funding 

This funding will allow the Healthwise Instructor to take referrals from a GP Practice of people who present with high Blood Pressure. This funding allowed us to buy a standalone blood pressure machine with printout of readings. It will also allow us to bring in guest facilitators i.e., pharmacist, nutritionist etc. This funding is non recurrent. 

## (o) Kew Gardens - Grow Wild Community Programme 

This funding is for Headin2Horticulture project, a £2,000 grant was awarded to fund workshops, purchase of materials such as compost and memberships to social farms & gardens, to enhance the community. 

## **(ii) Unrestricted funds** 

This fund is expendable at the discretion of the trustees. 

## **20 Analysis of net assets between funds** 

|**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**At 31 May 2024:**<br>Tangible assets<br>12,348<br>230,708<br>Current assets/(liabilities)<br>91,770<br>42,225<br>104,118<br>272,933<br>**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>**At 31 May 2023:**<br>Tangible assets<br>13,493<br>241,886<br>Current assets/(liabilities)<br>68,142<br>72,894<br>81,635<br>314,780|**Total**<br>**2024**<br>**£**<br>243,056<br>133,995|
|---|---|
||377,051|
||**Total**<br>**2023**<br>**£**<br>255,379<br>141,036|
||396,415|



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## **ALBERT STREET COMMUNITY CENTRE LIMITED** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024** 

## **21 Financial commitments, guarantees and contingent liabilities** 

## **Contingent liabilities** 

A portion of grants received may become repayable if the charity fails to comply with the terms of the letters of offer. 

## **Pension 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 pension cost charge represents contributions payable by the company to the fund and amounted to £13,477 (2023 - £14,459). At the balance sheet date no amount was outstanding (2023 - nil). 

## **22 Related party transactions** 

There were no other transactions with related parties requiring disclosure. 

## **23 Operating lease commitments** 

## **Lessee** 

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: 

|Within one year<br>Between two and five years<br>In over five years|**2024**<br>**£**<br>1,005<br>1,005<br>2,260<br>4,270|**2023**<br>**£**<br>413<br>-<br>-|
|---|---|---|
|||413|



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