Belfast Interface Pro'ect
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Statement of Financial Activities
inco
for the Year Ended 31 March 2023
oratin the Income & Ex
enditure Account
31.3.23
31.3.22
Unrestricted R¢strict¢d Total fl￿dS Total filnds
fimd
nds
Notes
Income and endowments from:
Donations and legacies
Charitable activities
150
10,416
150
313,210
18.953
166 679
302,794
Total income and endoivments
10,566
302,794
313,360
185,632
Expenditure on:
Charitable activities
266 387
309 430
43043) ￿183424}
Total expenditure
(43.043)
(266,387) (309,430) (183,424)
Net Incomel(Expenditure) For The Year
(32,477)
36,407
3,930
2.208
Transfers behveen Funds
19
6,000
(6,000)
Other recognised gainsl{losses):
Actuarial gain&l(losses) on defmed benefit
pension scheme
12
164
164
153
Net movement in Funds
(26,313)
30,407
4,094
2,361
Reconciliation of Funds:
Totydl Funds brought fonvard
34.921
16,007
50,928
48,567
Total Funds Carried forward
8,608
46,414
55,022
50,928
The Statement of Financial Activities includes all gains and losses recognised in the year.
All of the above amounts relate to Colliinuing activities.
The notes forni part of these fmancial statements
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Balance Sheet
At 31 March 2023
31.3.23
31.3.22
Not¢s
FIXED ASSETS:
Tangible asscts
15
3.106
6,604
CURRENT ASSETS:
D¢btors
Cash at bank and in hand
16
93.805
50.825
442
97.049
51.267
CREDITORS: AMOUNTS FALLING
DUE WITHIN OIYE YEIIR
17
(42,402)
(3,502)
NET CURRENT ASSETS
TOTAL NET ASSETS EXCLUDING
PENSION LIABJLITY
57,753
54,369
DEFINED BENEFIT PENSION
LIABILITY
l2
(2,731)
(3,441)
TOTAL NET ASSKTSI(LIABILITIES)
50,928
THE FUNDS OF THE CHARITY:
Unrestricted funds
Restricted funds
19
8,608
34,921
TOTAL CHARITY FUNDS
55,022
50,928
The notes fonn part of these financial statements
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Balante Sh¢et- continued
At 31 fvlarch 2023
Tliese financial statements liave bcen pr¢pai"¢d in accordance with tlic provisions applicable to companies
subject to the small companies, regime.
The finaiicial stateinents were approv¢d by the Board of Trustees oll 10 October 2023 and were sigined on its
behalf by..
MArix Mo
an - Chairperson
Muyiel Bowyer-Treasurer
Company Registration Num ber: N1067459
The notes fonn part of these financial statements
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Notes to the Financial Statements
for the Year Ended 31 March 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The significant principal accounting pohcies adopte(L judgements and key sources of estimation
uncertainty in the preparation of the financial statements are set out below. These policies have been
consistently applied to all periods presented unless otherwise stated.
1.1 Basis of preparation of financial statements
The charitable company constitutes a public benefit entity as defined by FRS I02 and its operations and
principal activÈties are as disclosed in the Report of the Trustees.
The financial statements have been prq)ar¢d in accordance with "Accounting and Reporting by
Charities.. Statement of R¢conunended Piactice applicable to cliarities preparing their accounts in
accordance with the FinanciaI Reporting Standard applicable in the UK and Republic of Ireland (FRS
102)" (effective l January 2019), the Financial Reporting Standard applicable in the Unit¢d King(lom
and Republic of Ireland (FRS 102), applicable charity law, th¢ Companies Act 2006 and United
Kingdom Generally A¢c¢pted Practice.
Th¢ financial statements are pr¢sented in sterling, thc functional currency of the Charitable company.
Assets and liabilities atc initially recognised at historical cost or transaction valu¢ unless otherwise stated
in th¢ relevant accounting policy note(s).
1.2 Preparation of the accounts on a going concern bASIS
The financial statements have been prepared on a going concern basis as the trnstees are of the view
that the iminediate future of the charitable company for the next 12 months is secure and on this basis
the assessment of the trustees is that the charitable cornpany is a going concern.
1.3 Fund accounting
Unrestricted fi￿dS are available for use at the discrction of the trustees in furthcran¢¢ of the PU￿OSeS of
the charitable company. Restricted funds are to be used in accordance with specific restrictions imposed
by donors or funds which have been raised for particular purposes. The costs of raising and
administering such funds are charged against the specific fund.
1.4 Income recognition policies
Items of incoine are recognised and included in the accounts when the company is legally entitled to the
incorne, any perforniance conditions attached to the it￿￿ of income have bccn met or are fully within
thc control of the company, the amount Gan b¢ measured reliably and receipt Is Gonsidered probable.
Income is defaTcd only when the charity has to fulfil conditions which arc not fully within th¢ control
of the charity before bcinbF entitled to it or whcr¢ the donor/fundcr has specified that the income is to b¢
expended in a future period.
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Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES eonlinued
1.5 Expenditure recognition polieies and irrecoverAble VAT
Expenditure is recognised on au accruals basis once there is a legal or constrnctive obligation to make a
payinent to a third paty, it is probable that settleinent will be required and the amount of the obligation
an be measured reliably. Expenditure is classified under the following activity headings:
Charitable activities:
includ¢ the costs of programmes undertaken to further the purposes of the charitable coinpany and their
associated suppoit cost& including governance costs.
Support costs ar¢ those costs incurred in support of direct expenditure on the objects of the charitable
company and include project inanageinent. Governance costs are those incurred in connection with
administration ofthe charitabl¢ company and compliance with constitutional and statutory requirements.
The analysis of these costs is included in notes 8 and 9.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred or
capitalised as part of the cost of the related asset as appropriate.
1.6 Donated Facilities
The income re¢ognition policies apply equally to donated facilities which are measured artd included in
the accounts on the basis of the value of the gift to the charitable company. An equivalent amount is
recognised as an expense.
Note 6 provides additional disclosure.
1.7 Employee benefits
When employees have rendered service to thc charitable company, short-tem] employee benefits to
which the employees are entitled aff recognised at the undiscounted amount expected to be paid in
exchange for that service.
1.8 Pension costs and other post-retirement benefits
Contributions payable to the charitable company's defined contribution pension ￿hemeS are charged
to the Statement of Financial Activities in the period to which they relate. Note 12 provides
additional disclosure.
The charitable company also participates in the Northern Ireland Charities Pension Scheme, a multi-
employer defined benefit scheme, in respect of a fornier employee. Sufficient infonnation is not
available to use defined benefit accounting and so accounts for the plan as if it was a defined
ontribution plan. The Gharitable company is com￿tted to making monthly payments to make good
deficits and cover scheme management costs and therefore recognises a liability for th¢ contributions
payable that arise from the agreemeni to the extent that they relate to the deficit. Note 13 provides
additional disclosure.
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Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
1.9 Tangible fixed Agsets and depreciation
Tangible fixed ass¢ts are stated at cost less accuinulated depreciation and impainnent losses.
D¢pr¢ciation is provided at rates calculated to write off the cost of fixed assets, less thcir estimated
residual valuc, over their ¢xp¢cted useful lives on th¢ following basis:
Equipment & Website
25 % Straight line
The Carrying value of the tangible fixed assets is reviewed annually for impairnient in period to
deterniine if events or changes in circumstances indicate the carrying value may not be recoverable.
1.10 Debtors
Debtors are recognised at the settlement aTnount due after any trade discounts offered.
Any losses arising from impainnent are recognised in expenditure.
1.11 Cash at bank and in hand
Cath at b8nk and in hand includes cash and short tern1 highly liquid investments with a short
maturity date of three months or less from the date of acquisition or opening of the deposit or similar
account.
1.12 Impainnent
Assets not measured ai fair value are reviewed for any indication that the asset may be impaired at
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset, s
c&sh generating unit. is estimated and compar¢d to the carrying amount. Where the carying amount
exceeds its recoverable ￿llount, an irnpaimient loss is recognised in profit oi. loss unless the asset is
Carried at a reva]ued amount where the impainnent loss is a revaluation decr¢ase.
1.13 Creditors and provisions
Creditors and provisions are recognised where the charitable company has a present obligation
resulting from a past event that will probably result in the transfei. of funds to a third paty and the
amount due to settle the obligation can be measured or estimated reliably.
Creditors and provisions are nornially recognised at their settlement amount aftcr allowing for any
trade discounts due. When the effect of the time value of Money is material, the amount of a
provision shall be the present value of the amount expected to be required to settle the obligation.
1.14 Leases
Rentsls payable under operatÉng Icases are charged to the SOFA on a straight line basis over the period
of the lease.
1.15 Financlal Instruments
Financial assets and liabilities of a kind that qualify as basic fin8ncial instruments are initially reco8nised
at transaction price and subsequently measured at settlement value.
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Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
1.16 Critical Accounting judgements gnd estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances. There are no critical judgements in applying the company's accounting policies. Ther¢
are no critical accounting estimates and assumptions.
2. COMPANY STATUS
Belfast Interface Project is a company limited by guarant¢e incorporated ill the United Kingdom
and registeied in Northcrn Ireland and accoi(h'llgly does not have share capital. Every member
of the company undertakes to contribute such wnount as may be required, not exceeding £ I, to
the assets of the charitable company in the event of it being wound up while they are a current
member, or within one yvar after ceasing to be a member.
The charitable company's registered office is given on page l of the Report of the Trustees.
3. INCOME FROM DONATIONS AND LEGACIES
31.3.23
31.3.22
Private donation
Departsnent for Communities - donated facilities
HMRC - Job Rctention Scheine
150
1,345
150
Of the £150 received in 2023, (2022.. £18,953), £nil related to restricted funds (2022: £nil) and £150 to
unrestricted fimds (2022.. £18,953).
UK government grants included in Income from Donations and Legacies amounted to £nil (2022:
£18,953).
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Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
INCOME FROM CHARITABLE ACTIVITIES
31.3.23
31.3.22
Fees earncd
Perforniancprrelated grants
5,062
161617
313,210
313 210
166,679
Of the £313.210 received in 2022, (2022: £166,679), £302,794 related to restricted ￿ndS
(2022: £151,652) and £10,416 to unrestricted funds (2022.. £15,027).
Grants receivel included in the above, are as follows:
31.3.23
31.3.22
Co-operation Ireland - Future Innovators
Belfast City Council Capacity Building - Core funding
BCC - Promoting Shared Futures
BCC/PCSP - North Belfast District Policing & Community Safety
Partnership
BCC Fair Funding
The Executive Office - Augmented Reality Planning
The Executive Office - Resilience Post Covid 19
The National Lottery Shared Futures - Planning Toolkit
105,117
30,487
1,490
59,428
28,150
10,000
10,000
2,533
24,342
27,164
49,228
126 888
313210
161617
UK government grants included in Income from Chatitable Activities amounted to £208,093 (2022.. £102,189).
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for the Year Ended 31 March 2023
NON-EXCIIANGE TRANSACTIONS
The charitable compgny has benefitted from the contribution of unpaid general volunteers. Their
contiibution is not aGcount¢d for due to the lack of a reliable basis of measur¢m¢nt.
EXPENDITURE ON CHARITABLE ACTIVITIES
Activities
undertaken
directly
Support
costs
Year ended 31 March 2023
TotaI costs
Unrestricted funds
General fund
264
42.779
Restricted funds
Co-operation Ireland - FU￿re Innovators
Co-operation IrelaniYRuTal Community N¢twork -
VCSE COVID recovery
The Rank Foundation - Sense over Sectarianism
Belfast City Council Capacity Building - Core funding
BC.C - Proinoting Shared Futures
BCC/PCSP- North Belfast District Policing &
Community Safety Partnership
The Executive Office - Augmented Reality Planning
The Executive Office - Resilienc¢ Post Covid 19
The Executive Office - Planning for Change
The National Lottery Community Fund - Awards for All
- See-U-Through
The National Lottery Shared Futures - Planning Toolkit
95,555
95,555
249
75
249
75
28,150
1,490
28,150
1,490
4,000
45,508
250
312
4,000
45,508
250
312
1,589
1,589
238.237
28,150
266.387
Total expenditure
238,501
70,929
309,430
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Notes to the Flnaneial Statements - continued
for the Year Ended 31 March 2023
EXPENDITURE ON CHARITABLE ACTIVKTIES conlinued
Activities
undertaken
direcdy
Support
osts
Year ended 31 March 2022
Total costs
Unrestrieted funds
General fund
42,077
43.754
Restricted funds
Co-operation Ireland - Future Innovators
Co-operation IrelandlRural Coinmuuity Network -
VCSE COVID recovery
The Rank Foundation - Sense over Sectsrianism
Belf&8t City Council Capacity Building - Core funding
BCC - Proinoting Shared Futures
The Executive Office - Augmented Reality Planning
The Executive Office - Resilience Post Covid 19
The Executive Office- Planningy for ChangFe
The National Lottery Cominunity Fund- Awards for All
- See-U-Through
51,074
51.074
905
75
64
8,000
22,600
26,608
313
905
75
27,872
8,000
22,600
26,608
313
27,808
111,862
27.808
139,670
Total expenditure
113,539
69,885
183,424
SUPPORT COSTS
31.03.23
31.03.22
Salaries & pensions
Rent & service charge
Parking
Insurance
Telq)hone
SubsLYiptions
Equipment, IT
Stationery & other office costs
Travel & subsistaice
Bank fees
Finance costs
Gen¢ral ￿penSeS
Governance costs (note 9)
47.987
13,809
780
949
2,721
49,933
9,826
780
1,202
2,866
222
2.031
1,815
201
365
225
38
(i)
2,398
220
79
70,929
69,885
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Notes to the Financial Statements - continued
for the Year End¢d 31 March 2023
GOVEIINANCE COSTS
3l.03.23
31.03.22
NI Charities, Pension Scheme - management charge
AGM expenses
Audit costs
C.ory)oration Tax R¢turn
338
24
2,006
338
2,000
60
2,398
NET INCOMEI(EXPENDITURE) FOR THE YEAR
Net income/(expenditure) Is stated after charging/ (crediting):
31.3.23
31.3.22
Auditor's remuneration
Operating lease - r¢ntal charges
Depreciation - tangible fixed assets
Loss on disposal of fixed assets
Pension costs - defined contribution schemes
Pension costs - defined benefit scheme - financy Costs
Pension costs - defined benefit scheme - management costs
2.000
5,382
3,265
233
7,649
79
338
2,000
5,382
3,498
1,868
7,553
38
338
10. STAFF COSTS AND TRUSTEES, REMUNERATIOIY AND BENEFITS
Total staff costs were as follows:
31.3.23
31.3.22
Wages and salaries
Social security Costs
Pension costs - defined Contribution plans
Movement on annual leave entitlement
175,755
11.605
7,649
702
118,350
7,145
7.553
195711
133 057
No employees received emoluments in excess of £60,000 during the year (2022 - nil).
The total amount of cmployec b¢nefJts received by key manageinent personnel was £46,618 (2022..
£47,748).
Th¢ avcra8e nuinber of¢inployc¢s during the y¢ar was as follows:
31.3.23
Dire¢ support 8nd gov¢rnance
31.3.22
There was no trustees, ranuneration or othcr ben¢fits for the year ended 31 March 2023 (2022: £nil).
No trustK received paym¢nt for professional or oth¢r services suppli¢d to the charitable Gompany
(2022: £nil)
Trnstees, expenses
Thcie were no trustees, expenses reimbursed for the year ended 31 March 2023 (2022.. £nil).
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for the Year Ended 31 Mareh 2023
11. PENSIONS
The charitable company operates defined contiibution pension plans for its employees.
The amount recognised as an expense in the year was £7.649 (2022: £7,553) in respect of its own
contribution.
12. NI CHAIUTtES PENSION SCHEME COMMITMENTS
In respect of a former employee, the charitable company participates in the Northern Ireland Charities
Pension Scheme (NICPS), a funded multi-employ¢r scheme which provides benefits to some 12 non-
associated employers. The scheme is a defined benefit scheme in the UK, not contract¢d-out of the
State pension.
The NICPS closed to future accrual on 31 March 2009, there is currently no intention to wind it up and
it continues in paid-up forn].
It is not possible to identify the share of underlying assets and liabilities belongin¥ to the individual
participating einployers to enable them to account for the scheme as a defined benefit scheme.
Therefore, the charitable company accounts for the scheme as a defmed contribution scheme.
The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into
force on 30 Deccmber 2005. This, together with docuinents issued by the Pensions Regulator and
Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for
fuiidinby defined benefit occupational pension scheines in thc UK.
The scheme is classed as a "last-man standin8 arrangement"
Therefore, the company is potentially
liable for other participating employers, obligations if those employers ate unable to meet th¢ir share
of the scheme deficit following withdrawal from the scheme. Partxcipatin&y employers are legally
required to meet their share of the schane deficit on 8n annuity purchase b&sis on withdrawal from the
scheme.
The Trustee comrnissions 8n actuarial valuation of the Schemc every three years. The main pury)ose
of the valuation is to det¢nnine the financial position of the Schan¢ in order to deterniine the level of
fijturc contributions required so that the Scheme can meet its pension obligations as they fall due.
Th¢ actuarial Y￿llation assesscs whethw the Scheme's assets at the valuation date are likely to be
sufficient to pay the pension benefits accrued by members as at the valuation date. Asset values are
calculated by reference to market levels. Accrued pension benefits are valued by discounting expected
future investments returns.
For yeaTS in which a full actuarial valuation is not carried out, an Actuarial report providing an
approximate update on the funding position is rwuired by Icgislation.
A full actuarial valuation for the schem¢ was carricd out at 30 September 2019 by a professionally
qualified actuary using the "projected unit credit" method. This actuarial valuation showed assets of
£35.4m (2016.. £29.4m), liabilities of £37.8m (2016. £35.5m) and a deficit of £2.4m (2016: £6. Im).
The results of the 2019 valuation resulted in a ncw deficit recovery plan to fimd the reduced deficit of
£2.4m which commenced on l August 2020 and will rnn until 29 February 2028.
Results of the ￿[1 a¢tuariaI valuation for the scheme at 30 September 2022 hav¢ not yct been finalised.
It is expected that a forniai review of the inflation assuTllptions used to value liabilities due to be paid
out after 2030 will increase liabilities by around 90/0.
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12. NI CHARITIES PENSION SCHEME COMMITMENTS continued
The results of the approximate update as at March 2023 show assets of £21.7m. liabilitieg of £26.2n
representing a funding level of 830/￿ and a deficit of £4.5m.
To eliminate the thnding shortfall, the trustees have agreed that deficit contributions will be paid to the
schane &$ follows:
From l August 2020 to 29 February 2028: £625 pa (previously £1,322 pa), payable quarterly.
Scheme expenses payable for the sam¢ period will be £338 pa (2016: £424)
If the valuation assumptions are borne out in practice the agreed contribution schedule should be
sufficient to ¢liminat¢ the past service deficiL oil an ongoing funding basis, by 29 Febiuary 2028
(2016: 3 l March 2038).
The recovery plan contributions are allocated to each participating employer in line with their
estimated share of the scheme liabilities. In year ended 31 March 2023, the charitable company paid
deficit contributions of £625 (2022: £625) and management costs of £338 (2022: £338).
The death of the charitable coinpany's former employee before 29 February 2028 will eliminate any
outstanding obligation.
Since the charitsble company has agreed to a deficit funding arrangeinent it recognises a liability for
this obligation. The amount recognised is thc net present value of the deficit reduction contributions
payable under the agreeinent that relates to the deficit. The present value is calculated usingy the
discount rate detailed in these disclosures, The unwinding of the discount rate is recognised as a
finance cost and management costs as a governance cost.
31.3.23
31,3.22
Present Valu¢ of Provision
Reconciliation of Opening and Closing Provtslons
31.3.23
31.3.22
Provision at the start of the year
Unwinding of the discount factor (interest expense)
Deficit contribution paid
Remeasurements - impact of any change in assumptions
3,441
79
(625)
4,181
38
(625)
153
Present Value of Provision
2,73 1
Th¢ whol¢ of thc provision w&% attributabl¢ to unrcstrictcd funds.
Income and Expendithre Impact
31.3.23
31.3.22
Interest exp¢nse
Remeasurements- impact of any change in assumptions
Management costs
79
(164)
338
38
(153)
338
Costs recognised in income and ¢xpcnditurc a￿oUnt
253
223
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12. NI CHAIUTIES PENSION SCHEME COMllllTMENTS conlinued
A8sumption8
31.3.23
31.3.22
/0 per annum % per anniim
5.15
2.56
Rate of discount
Th¢ discount rates shown above are the equivalent single discount rates which, when used to discount
the future recovery plan contributions due, would give the same results as using a full AA corporate
bond yicld curve to discount the vame recovery plan contributions.
13. RELATED PARTY TRANSACTIONS
There were no r¢lat¢d party transactions in the year that require disclosure.
14. CORPORATION TAXATION
The company is a registered charity and the charitsble tax exemptions are therefore being claimed to the
extent that income andlor gains are applicable and applied to charitable purposes only. These
exemptions will ranain in place as long as income and expenditure is appli¢d to charitable purposes only.
IS. TANGIBLE FIXED ASSETS
Website
Equipment
Totals
COST
At l April 2022
AddÉtions
Disposals
5,940
15,721
21,661
At 31 March 2023
5.940
19,000
DEPRECIATION
At l April 2022
Charge for year
Eliminated on disposals
5,940
9,117
3,265
2,428)
15,057
3,265
2,428
At 31 March 2023
IYET BOOK VALUE
At 31 March 2023
3,106
At 31 March 2022
6,604
6,604
16. DEBTORS
31.3.23
31.3.22
Prcpayments & accrued income
93,805
93.805
50,825
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17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23
31.3.22
Accruals & deferred income
Other creditors
38,458
2.599
903
3,502
18.
LEASES
Total future minimum lease payments under non-cancellable operating leases are as follows..
31.03.23
31.03.22
Not later than one year
Later than one and not later than five years
5,382
897
5,382
6,279
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19. THE FUNDS OF THE CHARITY
Net
movement in
funds
Transfers
betw¢¢n
funds
Year ended 31 March 2023
At 1.4.22
At 31.3.23
Unrestricted funds
General fund
34,921
(32,313)
6,000
8.608
Restricted funds
Co-operation Ireland - Future InnoTrators
Co-opei'ation Irelan(LIRural Community
Network - VCSE COVID recovery
The Rank Foundation - Sense over
Sectarianism
Belfast City Council Capacity Building -
Core Fundtng
BCC - Promotin8 Shared Futures
BCC/PCSP - North B¢lfast District
Policing & Community Safety
Partnership
The Executive Office - Augmented
Reality Planning
The Executive Office - Resilience Post
Covid 19
The Executive Office - Planning for
Cli￿1ge
The National Lottery Coininunity Fund-
A w&rds for All - See-U-Through
The National Lottery - Sharcd Futures
Planning Toolkit
922
(854)
68
498
(249)
249
75
(75)
2,337
2,337
10,000
(4,000)
(6,000)
1.742
3,720
5,462
556
(250)
306
625
(312)
313
1,589
(1,589)
16.007
36,407
(6,000)
46,414
TOTAL FUNDS
55,022
The Qeneral fund is the "free reserves" after allowing for all designated fiuids.
Costs totalling £6,000, originally cl2ssified as unrestricted, were tranSfer￿d to thc BCC - North B¢lfasl
District Policing & Con]munity Safety P￿￿ership restrictcd fund, in line with the purposes of the funding
as laid out in the letter of offer.
Page 27

Belfast Interface Pro
Acom
an
limited b
ect
arantee
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
19. THE FUNDS OF THE CHARITY continued
Net
movement in
funds
Transfers
between
fimds
Y¢ar ended 31 March 2022
At 1.4.21
At 31.3.22
Unrestricted funds
General fund
42.264
(9,621)
2.278
34.921
Restricted funds
Co-operation Ireland - Future Imiovators
C.o-op¢ration IreRandlRural Community
Network - VCSE COVID recovery
Th¢ Rank Foundation - Sense over
Sectarianism
Belfast City Council Capacity Building -
Core F￿ldIng
BCC - Proilloting Shared Futures
BCCIPCSP- North Belfast District
Policing & Conllnunity Safety
Parthership
The Executivc Offic¢- Auginented
Reality Planning
The Executive Offi¢¢ - Resili¢nce Post
Covid 19
The Executive Office - Planning for
Change
The NationaI Lottery Coinmunity Fund-
Awards for All - See-U-Through
922
(905)
922
498
1.403
150
(75)
75
278
2,000
(278)
(2,000)
10,000
10,000
1,742
1.742
556
556
938
(313)
625
6,303
11,982
(2,278)
16,007
TOTAL FUNDS
48,567
2,361
50,928
The General fimd is the "fr¢e reserves" after allowing for all designated fimds.
Costs totalling £2,000, originally cEassified as unrestricte(I were transferred to the BCC - Promoting Shared
Futures restricted fund, in line with the purposes of the funding as laid out in the letter of offer.
Other transfers between restricted and unrestricted funds are in linc with conditions laid down by
ndffs.
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Belfast Interface Pro'ect
Acom
limited b
arantee
Notes to the Financial Statements - continued
for tbe Year Ended 31 March 2023
19. THE FUNDS OF THE CHARITY eontinued
Net movement in fund& included in the above are Bs follows:
Incoming
resources
Resources
Actuarial Movements
expended gains/(losses)
in funds
Year ended 31 March 2023
Unrestricted funds
General fund
10.566
(43.043)
164
(32,313)
Rtstricted fvnds
Co-op¢i"atioll Ireland - Future Innovators
Co-operation Ireland/Rural Community
Network - VCSE COVID recovery
The Rank Foundation - Sense over
Sectarianism
Belfast City Council Capacity Building-
Core funding
Belfast City Council - Promoting Shared
Futures
BCC/PCSP- Noith Bclfast District
Policingy & Community Safety
Partnership
The Executive Office - Augmented
Reality Planning
The Executive Office - Resili¢n¢¢ Post
Covid l9
The Executive Office - Planning for
Change
The National Lottery Community Fund-
AwaTds for All - See-U-Through
Th¢ National Lottery Shared Futures -
Planning Toolkit
94.701
(95.555)
(854)
(249)
(249)
(75)
(75)
30,487
(28,150)
2,337
1,490
(1,490)
(4.000)
(4,000)
49,228
(45.508)
3,720
(250)
(250)
(312)
(312)
(1,589)
(1,589)
126 888
89.209)
302,794
(266,387)
36,407
TOTAL FUNDS
313360
(309 430
164
Page 29

Belfast Interface Pro'eet
Acom
limited b
arantee
Notes to the FinancRal Statements - conlinued
for the Year Ended 31 March 2023
19. THE FUNDS OF THE CHARITY continued
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
Actu￿la1 Movements
expended gains/(losscs)
in ￿llds
Year ended 31 March 2022
Unrestricted fvnds
General fimd
33,980
(43,754)
153
(9,621)
Restricted fvnds
Co-operation Ireland - Future Innovators
Co-operation Irelan(VRural Community
Network - VCSE COVID recovery
The Rank Foundation - Sense over
Sectarianism
Belfast City Council Capacity Building -
Core funding
Belfast City Council - Promoting Shared
Futures
BCCIPCSP- North Belfast District
Policing & Community Safety
Partnership
The Executive Office - Augmented
Reality Planning
The Executive Office - Resilience Post
Covid 19
The Executive Office - Planning for
Changc
The National Lottery Community Fund-
Awards for All - See-U-Through
51.996
(51,074)
922
(905)
(905)
(75)
(75)
28,150
(27,872)
278
10,000
(8,000)
2,000
10,000
10,000
24,342
(22,600)
1,742
27,164
(26,608)
556
(313)
(313)
151,652
(139,670)
11,982
TOTAL FUNDS
185 632
(183 424)
153
Pagc 30

Belfast Interface Pro'ect
Acom
an
limited b
uarantee
Notes to the FinanciaI Statements - continued
for the Year Ended 31 March 2023
20. ANALYSIS OF TOTAL NET ASSETSI(LIABILITIES) BETWKEN VUNDS
31.3.23
Restricted Total funds
funds
Unrestricted
fund
Year ended 31 March 2023
Fixed Assets
D¢btoi's
Cash at bank
Creditors due within onc year
D¢fmed benefit pension liability
3,106
93,805
(19.264)
(31,233)
3,106
93,805
3,244
(42,402)
22,508
(11,169)
8,608
46,414
55.022
31.3.22
Restricted Total ￿ndS
funds
Unrestricted
fund
Year ended 31 March 2022
Fixed Assets
Debtors
Cash at bank
Creditors due within one year
Defined ben¢fit pension liability
6.604
47,329
(36,984)
(942)
6,604
50,825
442
(3,502)
3,441)
3,496
37,426
(2,560)
21. CONTINGENT LIABILITIES
A contingent liability exists to rq)ay a portion of any grants received should certain conditions not be
fulfilled by the charitable company.
The oharÉtable company has been notified by The Pensions Trust of the estimated employer debt on
withdrawal from the Northern Ireland Charities Pension Scheme based on the financial position of the
scheine &s at 30 SepteAnber 2022.
As of this date the estimated employer debt for the charitable company was £41,831 (2022: £65,035).
This is the estimated potential debt that could be levied in the event of the charitable company becoming
insolvent. ceasing to participate or th¢ sch¢me winding up at a time when it is not fully funded on a
buy-out basis ie the cost of securing benefits by purchasing annuity policies from an insurer plus an
allowance for expellS¢S. It includes a shar¢ of "orphan" liabilities in respect of previously participating
employers.
There is significant uncertainty regarding its esttmation since it depends on many factors includin8 totsl
scheme liabilities, scheme invcstment perforniancc, thc liabilities in respect of current and forn]er
employees of the employer, financial Gonditions at the time of the cessation event and the insurance
buy-out markct.
Page31

Belfast Interface Pro'ect
Acom
limited b
uarantee
Notes to the Finaneial Statements - continued
for the Year Ended 31 March 2023
21. CONTINGENT LIABILITIES continued
This uncertainty. coupled with the view that crystallisation of the debt is not foreseen to occur in the
near future, means that whilst the Board considers it appropriate to disclose sam¢ as a contingent
liability. it has not been provided for in thes¢ fmancial statements.
However, a provision is recognised for the net present value of the deficit reduction contributions as
agreed with the charitable company. This provision does not account for any potential increase in
liabilities arisinb from a legaI process which is currcntly underway to obtain clarification and court
directions on the interpretation and implementation of scheme rules, and their implications on members,
benefits, past and future.
The estimated potential increase in liabilities as at 30 September 2021 is in the region of £20,000, but
is likely to change again before the outcoinc of the court case is known, not expected before late 2024.
As with the estimated employer debt. there is constderable uncertainty regarding its calculation and
crystallisation is unlikely to occur for a number of years, the potentia] liability has not been provided
for.
22. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR AUDITS OF SMALL
ENTITIES
In common with many other organisations of our size and nature we use our auditors to assist with the
prq)aration of the financial statements and to prepare and submit returns to the t&x authorities and to
Compallies House.
23.
FINANCIAL AND CAPITAL COMMITMENTS
There were no annual financial or capital commitsnents at the balance sheet date.
CONTROLLING PARTY
24.
The Board of Trustees is the ultimate controlling paty.
Page 32