Company registered number: N1067459 Charity registered number: NIC103356 BELFAST INTERFACE PROJEcr (Pvivate Lirnited Corrwy by Euarantee wlthoui share cawtsl Lt5e of'lknlltrf exemptknl TRUSTEES, REPORT AND FINANCIAL STATEMEFThS FOR THE YEAR ENDED 31 MARCH 2026 Tony Clarke 53 Andersonstown Road Belfast BTII 9AG
BELFAST INTERFACE PROJECT cOrENTs PAGE Reference and administrative details of the charity. trustees and advisers Annual Report ofthe Trustees Independent Examiner Report Statement of Financial Activities io Balance Sheet 11-12 Notes to the Financial Statements 13-22
BELFAST INTERFACE PROJEcr IPrivate Limited Company by guarantee withou¢ share capital use of'knmited. exetllplionl TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Tru5tee5' Annual Report {IncorporatI the Directors. Report) REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number N1067459 Registered Charity number NIC103356 Registered office 109-113 Royal Avenue Belfast Northem Ireland BTI IFF CHAIRPERSON Maria Morgan TRUSTEES Maria Morgan Aisling Cartmill Muriel Bowyer Edward Petersen Gerry Mcclory Gerry Skelton Bernadette Mcconnell Ashok Shanna Patrick O'th)nnell Chair Deputy Chair Treasurer INDEPENDENT EXAMINER Tony Clarke Certified Public Accountant 53 Andersonstown Road Belfast BTII 9AG
BELFAST INTERFACE PROJEC[ IPrNate Limited Company by guarantee without share capita5 use ol'Limited' exemption) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2026 Trustees. Annual Report Ilncorporatin8 the Dirertors. Report) The Trustees present their annual report together with the financial statements of the company forthe year ended 31 March 2026. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the company'5 governing document. the Companies Act 2006 and"Accounting and Reporting by Charitie5= Statement of Recommended Practices applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencingfrom l January 20191 StnKture, Governance and Managernent Belfast Interface Project {BIPI was established in 1995 and became a membership organisation in 2000. It currently has a membership of 40 community group5 from Nationalist and Unionist interface areas of Belfast as well as 16 associate and 12 individual members. Objectives and Activities Belfast Interface Project IBIP), now operdting for more than 25 years, continues to support peacebuilding. reconciliation, conflict transformation and community development across Belfasvs interface communities while exploring opportunities for wider regional engagement where resources permit. BIP continues to work in partnership with community organisations. statutory agencies, academic institutions and local councils to addre55 i55ue5 relating to interface division, shared space, community safety and future planning. The following remain the Vision. Purpose. Values and Principles of the charitable company- Vi5iOD Our vision is of interface communities being transformed; becoming prosperous, confident and cohesive. Purpose Our purpose is to art a5 a catalyst for change, empowering and supporting interface communities. Value5 and Principle5 Our core values are integrity. trust and mutual respect, which allow us to work in partnership with a shared ownership of issues and solutions. The strategic objectives of Belfast Interface Project continue to include- Policy: To work with local communities to inform, develop and challenge interface policy development that is of practical benefit to interface communitie5. Advocacy: To act as an independent voice for interface communities. Transformation.. Being a catalyst for change. Empowerment.. Building capacity and confidence. Building a resilient organisation.
BELFAST INTERFACE PROJE IPrNate Llmited Company by guarantee wtthout share capital use of'knmited, exemption) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Trustees. Annual Report {Incorporatlng the Directors Report) (continued) Organisational Development During 2025-2026 Belfast Interface Project continued to Strengthen its operational capacity and long-term sustainability while maintaining programme delivery across interface communities in Belfast. The organisation successfully secured Capaaty Building funding from Belfast City Council together with core support funding from the Northern Ireland Community Relations Council ICRC). This 5UPPOrt assisted the or8anisation in maintaining core operational functions durin8 a continued challenging funding environment for the voluntary and community sector. Funding support previously received from Halifax Foundation Nl concluded during the year. During the reporting period Mark Arthur was employed in a Project Officer role supporting delivery within funded programmes and wider engagement work. BIP continued to develop and implement its own independent funding strategy focused on organisational sustainability, innovation and fijture programme development. This strategy include5 applications to a range of local, regional and international fvnding bodies including Belfast City Council, The Executive Office, PEACEPLUS. the Department of Foreign Affairs, International Fund for Ireland and charitable trusts. While Belfast Interface Project continues to engage regionally where opportunities arise, the organisation recognise5 that expansion outside Belfast remains dependent upon the availability of project-based funding and strategic partnerships. Strategic and Operational Planning During the year Belfast Interface Project launched its new Strategic Plan 202S-2028 together with an updated Operational Plan. The Strategic Plan was developed by Gerry Skelton {on behalf of the Board), and the Operational Plan by the Practice Coordinator. with both being reviewed and critiqued accordingly by Board and staff members, The plans outline Belfast Interface Projecvs continuing commltment to: peacebuiSding and reconciliation. interface transformation. community empowerment. digital innovation, organisational resilience, and the continued development of collaborative partnerships across the statutory, academic and community sectors. The plans also place increased emphasis on innovative methods of community engagement including immersive digital technologies, future-planning tools and shared-space dialogue.
BELFAST INTERFACE PROJECT (Private Limtted Company by guarantee without share capital use ol'Lirnited' exemptionl TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Trustee5' Annual Report (Incorporating the Director5 Report) (continued) Programme Delivery During 2025-2026 Belfast Interface Project SUC$slIV completed and reported on two projects funded through The Executive Office: Sense Over Serterariani5m Augmented Reality Planning These programmes supported engagement with young people and communities across interface areas while continuing Belfast Interface Projecys work around dialogue, conflict transformation and community planning. The organi5ation continued to deliver workshops. mentoring support and engagement activities with community and youth group5 acr055 North. South. East and West Belfast. BIP also continued to support local groups and organisations through facilitation, relationship- building activity and ongoing partnership engagement across interface communitie5. Shared Futures and Digital Innovatbon The Shared Futures Community Platforni, developed in partnershipwith interface communities and University of Essex, was officially launched during the year. The platform represents a significant stage in Belfast Interface Projecvs continuing development of innovative approaches to digital engagement. future planning and communtty co-design. Building upon earlier work involving digital mapping. Minecraft-based engagement and augmented reality planning, Belfast Interfa Project has continued to explore immersive engagement methodologies using Meta virtual reality technologies and community-led digital planning approaches. Belfast Interface Project intends to continue sourcing funding to further develop immersive digital engagement methods and future-planning methodologies while upgrading the organisation's IT infrastructure and digital systems in support of future programme delivery and organisational sustainability. Membership. Parternships and Engagement During the year Belfast Interface Projett updated its membership structure which now includes 42 community groups and organisations together with associate and individual members. BIP continued to maintain and strengthen relationships with community organisations. statutory aBencies, local councils, academic institutions and international partners.
BELFAST INTERFACE PROJEC[ (Priyate Limited Company by euaranlee wiihout share capitsl use of 'Limited' exemption) TRUSTEES, REPORT AND FINANCIAI STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Trustees. Annual Report (Incorporatbng the Directors Report) (continued) Member5hipi Partemships and Enga8ement (continued) The or8anisation hosted a number of engagements and visits during the year including: representatives from university departments. Journalists from Japan and the Netherlands. interviews with local and international media outlets. BIP also hosted engagements with journalists and researchers including Martin Fletcher from The rimes and representatives from University of Glasgow Community Development programmes. These engagements continued to highlight the organisation's experience and expertise in interface issues, peacebuilding and innovative community engagement methodologie5. AGM and 25th Anniversary Belfast Interface Project held its Annual General Meeting and 25th Anniversary event during December 2025 at Ulster University. The event was ably facilitated by Gerry Skelton and brought together community organisations, statutory representatives. academic partners and supporters to reflect on more than 25 years of peacebuilding and interface work carried out by Belfast Interface Projert. The AGM also highlighted the organisation's future direction including the launch of the new Strategic and Operational Plans together with presentations relating to the Shared Futures platform and immersive digital engagement work. During the reporting period the organisation also marked the retirement of Company Secretary Bernie Mcconnell. Belfast Interface Project would like to place on record its sincere appreciation for Bernie's help, strength, fortitude and support throughout her tenure with the organisation. Plans for Future Periods Belfast Interface Projed will continue to focus on peacebuildin& conflict transformation, shared- Space engagement and community empowerment across interface communities in Belfast while exploring opportunities for wider regional engagement where funding and partnerships permit. The organisation will continue to seek funding opportunities supporting- immersive digital engagement and Meta virtual reality technologie5, shared-space and future-planning initiatives. youth engagement and wellbeing programme5. community capacity building, and the continued development of the Shared Futures Community Platform. BIP will continue to strengthen partnerships with community organisations, statutory agencies, local councils and academic institutions while developing a sustainable funding pipeline to 5UPPOrt future organisational growth and resilience.
BELFAST INTERFACE PROJECT IPrNate Llmited Company by euarantee w¥ihout share capital use of 'Lirnited' exemption) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Trustees, Annual Report {Incorporating the Dirertors Report) {contlnued) Financial Review The results for the year ended 31 March 2026 are set out on pages 10. 11 and 12 of the financial statements. The total income for the year ended 31 March 2026 amounted to £169.214 {2025: £85.4391. The total expenditure was £161.02412025: £95,658) The trustees acknowledge the reserves are currently negative but are satisfied thi5 15 a temporary position and expect improvement in the near future. The charity held £6.631 in re5erve5 at the year end12025.'1£1,9591). Reserves Policy The Trustees. policy is to retain a level of unrestrirted reserves which provide5 reasonable assurance of the resilience and sU5tainability of the charity in uncertain times. Their aim is to have unrestricted reserves of three month5 core salaries, pensions and running costs. plus a redundancy reserve. This would equate to approximately £56.00012025= £41,000). Actual re5erve5 at 31 March 2026 are £6,631 {2025: {£1.95911, which includes a provision of £5,351 12025: £5,740) in respect of the Nl Charitie5 Pension Scheme. Without this provision, reserves would Stand at £11,98212025= £3.7811. We are currently seeking to bring in additional unrestricted funding to brin8 reserves into line with our policy. This will include revenue from training, mediation and facilitation projerts. tenders and management fees for partnered projects in communities and other contract income.
BEiFAST INTERFACE PROJECT (Prfvate knmited Company byguarantee wlthoutshare capitsl use of,mIted, exemption) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Trustees, Annual Report Ilncorporatin8 the Dirertors Report) Icontinuedl Trustees. responsibilities statement The Trustees (who are also 1CtorS of Belfast Interface Project for the purposes of company lawl are responsible for preparing the Trustees, report and the financial staternents in accordance with applicable law and United Kingdom Accountin8 Standard (United Kingdom Generalty Accepted Accounting Practi} Company law requires the trustees to prepare financial statements for each financial yeai. Under company law the Trustee5 must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the income resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to.. Select suitable accounting policies and then apply them consistently Observe the methods and principles in the Charities SORP,. Make judgments and accounting estimates that are reasonable and prudent; Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting record5 that are sufficient to show and explain the charitable company's transactions anil disclose with reasonable accuracy at any time the financial position of the chaTWtable company and to enable them to ensure that the financial statements comply with the Companies Act 2(M)6. They are abso responsible for safeguarding the assets of the tharrtable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Belfasi Inierface Project is a company limited by guarantee by its Memorandum and Articles of Association. Each member's liability is limried to an amount not exceeding £1. This report was approved by the Trustees. on 1110812026 and signed on behalf by.. Muriel Bowye Treasurer Trustee & Director
BELFAST INTERFACE PROJECT (Private Limited Company by guaranree without share capital use of'Lirnited' exemplionl TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BELFAST INTERFACE PROJECr. I report on the financial statements of the company forthe yearended 31 March 2026 which are set out on pages 10. 11 and 12. This report 15 made solely to the company's Trustees. as a body in accordance with section 65131{al of the Charities Act Northern Ireland 21)08 and regulations made under section 66 of the Act. Mv work has been undertaken so that I might state to the company's Trustees those matters l am required to State to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work on thi5 report. Re5pertive responsibilities of trnstee5 and examiner As the company's Trustees {and also the directors of the company for the purpose of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Art 2006. Having satisfied myself that the company is not subject to audit under company law, and is eligible for independent examination. It 15 my responsibility to.. examine the accounts under section 65 of the Charities Act follow the procedures laid down in the general Direction5 given by the Commission under section 6519llbl of the Charities Act state whether particular matters have come to my attention. Basis of Independent Examiner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was rJrried out in accordance with the general directions given by the Charitv Commission for Northern Ireland under section 6519llbl of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disc105ures in the accounts. and seekinE explanations from you as charity trustees concernin8 any such matters. Indepertdent exarninerfs ststement My role is to state whether any material matters have come to my attention giving me cause to believe: That accounting records were not kept in accordance with section 63 of the Charities Act That the account5 do not accord with those accounting records That the accounts do not comply with the accounting requirements of the Charities Act That there is further information needed for a proper understanding of the accounts to be reached.
BELFAST INTERFACE PROJECT (Private Limited Company by guarantee without share capital use of 'Limited' exerllptionl TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 INDEPENDENT EXAMINER'S REPORT TO THE TRU5fEES OF BELFAST INTERFACE PROJEcr (conttnued) I have completed my examination and have no concerns in respect of the matters111 to141 listed above and, in connection with following the directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Tony Clarke FCPA 53 Ander50nstown Road Belfast BTII 9AG Date:
BELFAST INTERFACE PROJECT (Private Limited Company by guarantee wiihout share capital use of 'Limited' exemption) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 STATEMENT OF FINANCIAL ACflVtriES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT Year to Unrestritted Restricted 31-Mar-26 Fund5 Funds TOTAL Yearto 31-Mar-25 TOTAL Note Income from: Donation5 and Legacies Charitable Activities Other trading activities 109,401 51.051 109.401 59.813 21,149 63,980 310 8.763 Total Income 8,763 160 451 169 214 85 39 Expendlture on: Charitable Activities 213 160,810 161,024 95,658 Totsl Expenditure: 213 160,810 161,024 95.658 Net incomeJ{Expenditure) 8.549 13591 8.190 (10,2191 Transfers between funds li Other recognised gainslllosses) Actuarial gains/llossesl on defined benefit pension scheme 14 41 41 127 Net movement in funds 8,590 1359) 8.231 {10,0921 nciliation of Funds Total funds brought forward 12 11.9591 719 (1,240) 8,852 Total Funds carried forward li 6.631 360 1,2401 The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuin The statement of finanual attivities also complies with the requirements for an income and expenditure account under the Companies Act 2(Kl6. The notes on page 13 to 22 form an integral part of these accounts io
BELFAST INTERFACE PROJECT IPrivate Limited Company byguarantee without share capital use of 'knmited' exernptionl TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 BALANCE SHEET As at 31 March 2026 2026 2025 Note Fixed Assets Tangible Assets 359 359 719 719 Current Assets Debtors Cash at bank 21.427 3,356 24,783 5,625 1,512 7,137 Liabilities Creditors. amouffttsfaling due within (ye 12.8CIOI 3.356 Net Current Assets 11,984 3.781 4,500 Total Net Assets Exduding Pension Liabblity Defined Benefit Pension Liability 14 Total Net AssetsllLiabilitie5) Funds Restricted Unrestricted 12.343 15,3511 15.740) 1,240} li 360 6.631 11,9591 719 TOTAL FUNDS 6,991 1,240 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year erbded 31 March 2026. Tho trustees acknowledge their responsibilities for ensuring that the charity keeps accountinB records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resource5. including its income and expenditure. for the f inancial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statement5, 50 far as applicable to the company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companie5 regime. li
BELFAST INTERFACE PROJEcr IPrivate Limtted Company by guarantee wrthout share capital use of'Limited' exemption) TRUSTEES. REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 BALANCE SHEET Icontinued) As at 31 March 2026 The f inancial statements were approved by the board of directors on 1110812026 and were srdned on their behalf bv: Muriel Treasurer Trustee & Director The notes on page 13 to 22 form and integral part of these accounts 12
BELFAST INTERFACE PROJEcr IPivète Limited Company by guarantee without share capttal use of 'Limiled' exernptionl TRUSTEES, REPORT AND FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 MARCH 2026 NOTES TO THE ACCOUNTS l Accounting policies Charity information Belfast Interface Project is a Private Limited Company by guarantee without share capital use of 'Limited' exemption incorporated in Northern Ireland. The registered office is: 109-113 Royal Avenue, Belfast, Northern Ireland. BTI IFF. 1.1 Accounting conventlon The accounts have been prepared in accordance with the charity's goveming document, the Companies Act 26 and "Accounting and Reportin8 by Charities.. Staternent of Recommended Practice applicabSe to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland {FRS 1021" las amended for accounting periods commencing from l January 2019}. The charity is a Public Benefit Entity a5 defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to ir)clude investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustee5 continue to adopt the going concern basis of accountin8 in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objective5 unle55 the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. 1.4 Incoming resources Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it 15 probable that income will be received. 13
BELFAST INTERFACE PROJEcr (Private Lirntted Company by guarantee without share capital use of 'timited' exemption) TRUSTEES, REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 NOTES TO THE ACCour5 Icontinued) 1.4 Incoming resources (continued) Cash donations are recognised on receipt. Other donation5 are recognised once the charity has been notified of the donation. unles5 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. Tumover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business. net of discounts, VAT and other sales related taxes. 1.5 Resources expended Liabilities are recognised as expenditure a5 soon as there is a legal or constructive obligation committing the charity to that expenditure. it is probable that a transfer of economic benefit5 will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. The charity is below the charity audit threshold and therefore is exempt from reporting expenditure on an activity basis. The charity has opted to report by the nature of expenditure rather than on an activity b3Si5. 1.6 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 overdraft5. Bank overdrafts are Shown within borrowing5 in current liabilities. 1.7 Financial instruments The charity has elected to apply the provi5ion5 of Section 11 'Basic Financial Instruments, and Section 12 '0ther 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 contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial ststements, 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 simultaneou51y 14
BELFAST INTERFACE PROJECT (Private Lirnited Company by guarantee without share capital use of ,mIted, exemption) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 NOTES TO THE ACCOUNTS (continued) 1.8 Basic financial a55ets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequentty 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 3 market rate of interest. Financial assets classified as receivable within one year are not amortised. 1.9 Baslc financlal Ilabilities 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 effectNe 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. 1.10 Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terrninate the employment of an employee or to provide termination benefits. 1.12 Critical accounting estimates and judgement5 In the application of the charity's accounting policie5. 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. Actual results may differ f rom these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 15
BELFAST INTERFACE PROJEcr (Private Limited Company by guarantee withoyl share capital use ol'knmited, exemption) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 NOTES TO THE ACCOUKtS lcontinued) 2 Income from Donations and L acies 2026 2025 Unrestricted Restricted Funds Funds TOTAL TOTAL Private Donation Nl Community Relations Council The Executive Office Halifax Foundation Nl Totsls 2026 338 IS11 14.981 89,419 5,0(KJ 109.401 14,981 89.419 5,000 109.401 5,000 21,149 Totals 2025 5.338 15.811 21,149 Ir-. 2026 2025 Unrestricted Restrirted Funds Funds TOTAL TOTAL Fees Earned Performance-related grants Totals 2026 8.763 8,763 51,051 59,813 51.051 51,051 63,980 63,980 63,980 8,763 Totals 2025 63,980 Grants received, included in the above, are a5 follows: 2026 2025 Belfast City Council Capacity Building- Core Fundin8 BCC- Interface Engagement The National Lottery Shared Futures- Planning Toolkit 51,051 50,420 5,500 8,060 63,980 51,051 4 Trustees remuneration & ex nses During the year, no trustee received remuneration 12025 - £NILI. During the year. no trustee5 received any benefits in kind12025 - £NILI. During the year, no trustees received a reimbursement of expen5e5 12025- £NILI. 16
BELFAST INTERFACE PROJECT IPrNate Limited Company by guarantee without share capital use Of.Mited, exernptionl TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 NOTES TO THE ACCOUNTS Icontinued) 2026 2025 Gr05s Wages and Salaries National Insurance Contribution Pension costs Movement on annual leave entitlement 89,071 678 4,107 70.438 2.210 3,684 50 76,382 93.857 No employee received emolument5 Qf more than £60.OCQ12025- £NILI. The average monthly number of employees during the year. calculated on the basis of full time equivalents, was as follows.. 2026 Number 2025 Number endfture 2026 2025 Charitable Activities Unrestricted Restrirted Funds Funds TOTAL TOTAL Salaries & pension5 Rent & service charge Parking Insurance Telephone Subscriptions Equipment, IT Stationery & Other office costs Bank fees Finance Costs Governance costs Other Costs Halifax Foundation Running Costs Depreciation Total 2026 213 93.643 15,606 9357 15.606 76,382 9,164 81 2.024 216 188 1,270 51 277 I,23 397 5,000 40,498 359 160,810 81 1,049 1,836 530 1,028 254 217 275 2,698 1,445 216 188 1,270 51 277 1,200 397 40,498 359 161,024 213 95.658 Total 2025 27.592 68,066 95,658 17
BELFAST INTERFACE PROJECT (Private Limited Company byguar3ntee without share capital use ol'Limited' exemption) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 NOTES TO THE ACCOUNTS ICONTINUED) 202 02 Prepayments & accrued income Other Oebtors 1,255 20.172 21.427 5.625 5,625 2026 2025 Accruals & Deferred Income Other Creditors 12.800 3,356 3,356 9 Inde endent examiner's remuneration The independent Examiner's remuneration amounts to an Independent Examination fee of £1,200 12025- £2.CK)O} 10 Related art transactions There were no related party transactions during the year. lis at ent rrent ear Balance at l April 2025 Income Transfer inlout Balance at 31 March 2026 Expense Restricted funds Belfast City Council Nl Community Relations Council Halifax Foundation The Executive Off ice BCC- Shared Future5 Total restritted funds 51,051 14,981 5,0(Ki 89,419 {51.0511 114,9811 15,000) 189,4191 1359 (160.810) 719 719 360 360 160,451 Unrestricted funds General funds Total Unrestricted funds (1,9591 11,959) 8.763 8,763 12131 12131 6.59) 6.590 Totsl of funds {1,2401 169,Z14 1161,0241 6,950 18
BELFAST INTERFACE PROJECT IPrivate Limited Company by ouarantee without share capital use of 'Limited' exemptionl TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 NOTES TO THE ACCOUNTS (CONTINUED) 12 Statement of funds - ViOU5 Balance at l April Income 2024 Balance at 31 March 2025 Expense Other gains/losses Transfer inlout Restricted funds Unrestricted funds Total of funds 2,1(KJ 6,752 8J52 79.791 5,648 85,439 168,0661 (27.5921 95.658 {13,1061 127 13,106 127 719 1.9591 1240) 13 Tan ible Fix d Asset Website Equipment Totals COST At l April 2025 Additions Disposals 5,940 7.569 13,509 At 31 March 2026 5.940 7,569 13.509 DEPRECIATION At l April 2025 Charge of year Eliminated on disposals 5.940 6,851 359 12,791 359 At 31 March 2026 5,940 7,210 13,150 NET BOOK VALUE At 31 March 2026 359 359 At 31 March 2025 718 718 19
BELFAST INTERFACE PROJECT (Private bmitsd Company by guararrtee without Sha capital use of 'timited' exemption) TRUSTEES, REPORTAND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 NOTES TO THE ACCOUNTS (CONTINUED ensions The charitable company operate5 defined contribution pension plans for its employees. The amount recognised as an expense in the year was £3.86512025.' £3,684) in respect of its own contribution. 14 Nl Charities Pension Scheme Commitments In respect of a former employee, the charitable company partiopates in the Northern Ireland Charities Pension Scheme INICPSI, a funded multi-employer scheme which provides benefit5 to some 11 non-associated emp5oyers. The scheme is a defined benefit scheme in the UK. not contracted-out of the State pension. The NICPS closed to future accrual on 31 March 2CK)9. there is currently no intention to wind it up and it continues in paid-up fomi. It is not possible to identify the share of underlying assets and liabilities belonging to the individual participating employers to enable them to account for the scheme as a defined benefit scheme. Therefore. the charitable company accounts for the scheme as a defined contribution scheme. The scheme is subjett to the funding legislation OLrtlined in the Pensions Art 2004 which came into force on 30 December 2CQ5. This. together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council. set out the framework for funding defined benefit occupational pension schemes in the UK. The scheme is classed as a "last-man standIg arrangement" Theretore, the company is potentiallv liable for other participating employers. obliBation5 if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are leBally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the Scheme. The Trustee commissions an artuarial valuation of the Scheme every three years. The main purpose of the valuation is to determine the financial position of the Scheme in order to determine the level of future contributions required so that the Scheme can meet its pension obligations as they fall due. The actuarial valuation assesses whether the Scheme's assets at the valuation date are likely to be Sufficient to pay the pension benefits accrued by members a5 at the valuation date. Asset value5 are calculated by reference to market levels. Accrued pension benefits are valued by discounting expected future investment returns. 20
BELFAST INTERFACE PROJEcr IPrw3te Limited Company by guarantee wrf(hout share capital use of 'Limited' exemption) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 NOTES TO THE ACCOUNTS (CONTINUED) 13 Nl Pension Scheme Comm. nts contin For years in which a full actuarial valuation is not tarried out. an Artuarial report providing an approximate update on the funding position is required by legislation. A full actuarial valuation for the scheme was carried out at 30 September 2022 by a professionally qualified actuary which showed assets of £22.8m {2019: £35.4ml, liabilities of £26m12019: £37.8m} and a deficit of £3.2m {2019.. £2.4ml. The results of the 2022 valuation resulted in a new deficit recovery plan to fund the increased deficit of£3.2m which commenced on l October 2022 and will run until 30 June 2037. The results of the approximate update as at 30 September 2024 show a55ets of £19.5m, liabilities of £24.5m, representing a funding level of . and a deficit of £5m. To eliminate the funding shortfall, the trustees have agreed that deficit contributions will be paid to the Scheme as follows.. From l October 2022 to 30 June 2037.. £625 pa (previously £625 pa). payable quarterly. Scheme expenses rose to £631 pa from l October 202412023124: £338 pal. and are set to increase by 3% pa each l October thereafter, until payments end on 30June 2037. If the valuation assumptions are borne out in practice the agreed contribution schedule should be sufficient to eliminate the past service deficit, on an ongoing funding basis. by 30 June 203712019.. 29 February20281. 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 2026, the charitable company paid deficit contributions of £62512025: £6251 and management costs of £640 (2025- £5761. The death of the charitable company's former employee before 30 June 2037 will eliminate any outstanding obligation. Slnce the charitable company has agreed to a deticit tun(ling arrangement it recognises a liability tor this obligation. The amount recognised 15 the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance c05t and management costs as a governance cost. 21
BELFAST INTERFACE PROJEcr (Private Limited Company by guarantee without Share catmtal use of 'Lirnited' exemption) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 NOTES TO THE ACCOUNTS (CONTINUED) 13 haritie Pen Scheme mmitmen ontinue 31-Mar-26 31-Mar-25 Present Value of Provision 5,351 5,740 Reconcifiation of Opening and Closing Provisions Provision at the start of the year Unwinding of the discount factor {interest expense} Deficit contribution paid Remeasurements- impact of any change in assumptions amendments to contribution schedule 5,740 277 16251 {411 6.216 276 16251 11271 Present Value of Provision 5,351 5,740 The whole of the provision was attributable to unrestricted funds. Income and Expendlture Impart Interest Expense Remeasurements- impact of any change in assumptions amendments to contribution schedule 277 1411 276 11271 Management costs 640 576 Costs recognised in income and expenditure account 876 725 Assumptions % per annum 5.29 % per annum 5.13 Rate of discount The 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 yield curve to discount the same recovery plan contributions. 22