Company reglstration number: N1036715 Charity registration number: NICI 03435 Taughmonagh Community Forum Limited (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2023
Taughmonagh Community Forum Limited Contents strategic Report Trustees, Report 2to7 Independent Examinerfs Report 8109 statement of Financial Activities 10 Balance Sheet Notes to the Financial Statements 13to23
Taughmonagh Community Forum Limited strategic Report for the Year Ended 31 March 2023 The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 March 2023, in compliance with s414C of the Companies Act 2006. Flnanclal revlew The trustees are disappointed wifh the financial performance of the charTty during the year, This is partially due to the continued fallout from the COVID 19 pandemic. coupled with the increasing challenges facing similor charities operating in the vacuum of the absence of a functioning government at S*ormont. The trustees anticipate that these deficits can, with appropriate funding in ploce, pul the charity onto an improved financial platform. Policy on reserves It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months expenditure. The trustees consider that reserves at this level will ensure Ihat, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has not been maintained throughout the year. Funds In deficlt As noted earlier, the trustees are disappointed with the financial performance of the charity during the year. This is partially due to the continuing follout from the COID 19 pandemic, coupled with the increasing challenges facing similar charities operating in the vacuum of the absence of a functioning government at stormont. The trustees anticipate that these deficits can, with appropriate funding in place, put the charity onto an improved financial platform. Prlnclpal fundlng sources The charity generates Ihe majority of its income from the operation of its Scribbles day nursery. The major external funders are Belfast City Council, Sure Start, Department for Communities ond Nl Housing Executive. An oveNiew of how these funds have been utili5ed is shown in the Statement of Financial Activities ond the related notes. The strategic report was approved by the trustees of the charity on 14 November 2023 and signed on its behalf by: Mrs C Hanna Company secretary and trustee Page I
Taughmonagh Community Forum Limited Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statement5 and ouditors, report of the charitable company for the year ended 31 March 2023. Objectlves and actlvltles Objects and alms The objects of the charity are to promote the benefit of the inhabitants of Taughmonagh without distinction of sex, sexual orientation, race. or of political. religious or other opinion5. by association together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the object of improving the conditions of life for the said inhobitants. The charity aims to organise senior citizens activities, provide support regarding benefits and rfghts, address local housing issues, inprove the local environment, make the community a saferf, place, improve education in the area and provide interaction between business and the local community. It also runs a youth programme, educational programmes, supporfs the local social club and operates a community resource centre which will provide generol information to residents of the local area. The charity provides a day nursery, a creche and a playgroup which aim to make childcare affordable ond give opportunity for parents to seek work. The charfty also run5 various health initiatives and employs a part time health worker to address health issues. Oblecllves. stralegles and actlvltles The charity has successfully developed strong links with Belfast City Council and lh8 Belfast Health Trust to ensure the sustainobility of its programmes. It has also initiated strong partnerships with the Benmore and Annadale communities to support its role of a networking orgonisotion, promoting its long term sustoinability. Youth programmes have expanded and cross border links with Manorhamilton in Country Leitrim have supported a developing communities relations role. The day nursery has now been opened for more than ten years. The charity obtained planning permission and secured OFMDFM for tunding a £1 m capitol build to support nursery expansion, create a health centre and an additional gym, sports hall and meeting rooms. Work commenced on this project in mid 2017 and wa5 completed in 2019. The charity has conlinued to engage and sought to update its health and safety policies. human resource management and financial procedures. Page 2
Taughmonagh Community Forum Limited Trustees, Report Publlc beneflt The chority's Vision is for a sustainable, safer and healthier local community. The charity's approach ond model brings about concurrent social, economic and environmental benefits, providing the synergy to address fundamental societal issues, In order to achieve this, the charity is in constant contact with the local residents and wider community in order to communicate the oims and objectives of the charity. This process also gives opportunities for the residents and wider community to petition the charity with ideas and suggestions to aid and benefit the locale. The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charities Commission for Northern Ireland. In line with its stated aims and objectives, as noted above. the trustees are confident thot the charity is undertaking aclivities which provide public benefit to those who avail of its services and facilities. Use of volunteers The charity used appoximately twenty volunteers per week during the year, each working etween one ond six hours per week. Volunteer mainly worked with senior citizens, youth and children. The charity acknowledges the valuable contribution that volunteers make to its activities, Golng concern The financial statements hove been prepared under the assumption that the charity will conlinue to operate as a going concern, As a result ofthe current and some historical deficits, the charity is reliant upon the continued support of its funder5. In view of the current deficit, there exists some unease with going concern, However, once the impact of the COVID 19 pandemic has ceased and with the anticipated impact of the Healthy Business Centre, the trustess are confident that this support will continue for the foreseeoble future. Furthermore, it is hoped that the cuent political impasse at stormont will reach a cessation and improved funding structures will be put in place, The trustees have prepared financial projections which give some comfort on the financial performance of the charity. Additionally, the trustees are currently taking steps to refocus the strategic direction of the charity in order to address the financial position. On this basis, the trustees believe it is appropriate to prepare the financial statements on a going concern basis. Page 3
Taughmonagh Community Forum Limited Trustees, Report Relerence and Admlnistratlve Details Charity Registration Number: NICI 03435 Company Registration Number: N1036715 The charity is incorporated in Northern Ireland. Registered Office", 19-21 Finwood Park Taughmonagh Belfast BT9 6QR Solicitors,. Nelson Singleton 21 Gallows Street Dromore Co. Down BT25 1 BG Bankers: U15ter Bank Limited 183 Kingsway Dunmury Belfast BTI 7 9AH Trustees and offlcers The trus*ees and officers serving during the year and since the year end were as follows: Trustees: Mr N Earle Mr E Henderson Mr H Smith Iresigned I l May 20221 Mr WG Meehan Mrs C Hanna Secretary: Senior Management / Leadership Team: Mrs C Hanna Mr C Reid, Project Manager Ms R Pritchard, Finance Manager strvcture, governance and management Nature of governlng document The charity is a company limited by guarantee, governed by its Memorandum and Articles of Asociation. It has been granted charitable status by The Charity Commission for Northern Ireland under registrotion number NICI 03435. Page 4
Taughmonagh Communlty Forum Llmlted Trustees, Report Recruitment and appolntment of trustees If apropriate, new trustees are invited onto the Board at the annual general meeting. There are no specific requirements regarding skills or experience. However, the current trustees recognise the importance of a diverse and competent Board and this will impact upon any nomination. Those who are invited, will be involved with Toughmonagh Community Forum and will be held in high regard for their work. Inductlon and Iraining of trustees New trustees receive appropriate induction procedures and training upon appointment. Arrangements lor $ettlng key management per$onn•l remuneratlon No trustees receive any remuneration. Organlsatlonal sfructure The trustees are responsib16 for the doy to day running of the charity. The trustees meet between eight and ten limes annually to discuss financial and strategic issues. pollcy and procedures decisions and to ratify significant legally binding decisions. The trustees have assessed the mojor risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. Page 5
Taughmonagh Communlty Forum Llmlted Trustees, Report Flnanclal Instruments Objectlves and policies The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity's policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes. Cash flow rlsk The charity's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows. Credll rfsk The charity's principol financial assets are bank balances and cash, trade and other receivables, and investments. The charity's credit risk is primarily attributable to its trade receivables, The amounts presented in the balance sheet are net of allowances for doubtful receivables. An ollowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. Uqvidily rf$k In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments. the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statement5. statement of tru5tee5' responsibllitles The trustees Iwho ore also the directors of Taughmonagh Community Forum Limited for the purposes of company lawl are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Finoncial Reporting Standord applicable in the UK and Republic of Ireland" Company law requires the trustee5 to prepare financial statements for each financial year. Under compony law the trustees must not approve the finonciol statements unless they are sotisfied that they give a true and fair view of the state of affairs of the charitable company and of fhe incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: Page 6
Taughmonagh Communlty Forum Limited Trustees, Report select suitable accounting policies and apply them consistently; observe the methods and principles in the Charities SORP". make judgements and estimates that are reasonable and prudent: state whether applicable accounting standards, comprising FRS 102 hove been followed, subject to any material departures disclosed and explained in the financial statements; and prepare financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disc105e with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the finoncial statements comply with the Companies Act 2006. They are also responsible for safeguording the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustee5 are responsible for the maintenance and integrity of the corporate and financial infomiation included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The annual report was approved by the trustees of *he charity on 14 November 2023 and signed on its behalf by: Mrs C Hanna Company secretary and trustee Page 7
Taughmonagh Community Forum Llmlted Independent Examlner's Report to the trustees of Taughmonagh Community Forum Llmited ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. Responslblll*les and basls of report As the charity's tru5tee5 of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirement5 of the Companies Act 20061'the 2006 Act'i. Having satisfied myself that the accounts of the Company ore not required to be audited under Part 16 of the 2006 Act and are eligible for independent exominafion. 1 report in respect of my examination of your charity's accounts as carried out under section 145 of the Chorities Act 2011 I'the 2011 Act'l. In carying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Page 8
Taughmonagh Community Forum Llmlted Independent Examlner's Report to the trustees of Taughmonagh Communlty Forum Llmlted ('the Company,) Independent examlner'$ statement Since Taughmonagh Community Forum Limited's gross income exceeded £250,000 your examiner must k)e a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because l am a member of Chartered Accountants Ireland, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe: l. accounting records were not kept in respect of Taughmonagh Community Forum Limlted 05 required by section 386 of the 2006 Act,. or 2. the accounts do nol accord with those records; or 3. the accounts do not comply with the occounting requirements of section 396 of the 2006 Act other thon any requirement that the accounts give a 'lrue and fair view, which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statemenl of Recommended Practice for accounting and reporting by charities lapplicable to chorities preparing their accounts in occordance with the Financial Reporting Standard applicable in the UK and Republic of Irelond IFRS 10211. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of accounts to be reached. George T Roberts FCA Chartered Accountant Suite 721 Lisburn Enterprise Centre 6 Enterprise Crescent Lisburn Co. Antrim BT28 2BP 14 November 2023 Poge 9
Taughmonagh Communlty Forum Limited Statement of Flnanclal Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognlsed Galns and Losses) Unreslrlcted lunds Total 2023 Note Income and Endowments from: Charitable activities 324,391 324,391 Total income 324,391 324,391 Expendlture on: Charitable activities 357,331 357.331 Total expenditure 357,331 357,331 Net expenditure 32.940 32,940 Net movement in funds 132,9401 132,9401 Reconclllatlon of tunds Total funds brought forward 8,249 8,249 Totol funds carried forward 15 24,691 Unrestrlcted funds 24,691 Total 2022 Not• Income and Endowments from: Charitable activities 348,132 348,132 Total income 348,132 348,132 Expendlture on: Choritable activities 358.793 358,793 Total expenditure 358,793 358,793 Net expenditure 10,661 10,661 Net movement in funds 110,6611 110,6611 Reconclllatlon of funds Total funds brought forward Total funds carried forward 18,910 18,910 15 8,249 8.249 All of the charity's activities derive from continuing operations during the above periods. The funds breakdown for 2022 is shown in note 15. The notes on pages 13 10 23 form an integral part of these financial statemenls. Page 10
Taughmonagh Community Forum Limlted (Reglstratlon number: N1036715) Balance Sheet a5 at 31 March 2023 2023 2022 Note Flxed a$set5 Tangible assets 905.411 965,342 Current assets Debtors Cash at bank and in hand 12 2,597 543 34.862 3.140 34,862 Credltofs: Amounts lalllng due wlthln one year 13 26,968 25,692 Net curfent (Ilabllltles)/assets 23,828 9,170 Total assets less currenl liabllltles 881,583 974,512 CredEtors: Amounts folllng due atter more than one year 14 906,274 966,263 Net (Ilabllltles)/assets 24,691 8.249 Funds of the charSty: Unrestrlcted Income funds Unrestricted funds 24,691 8,249 Total funds 15 24,691 8,249 The notes on pages 13 to 23 form an integral port of these financia5 statements. Pagell
Taughmonagh Communlty Forum Limited (Registration number: N1036715) Balance Sheet as at 31 March 2023 For the financial year ending 31 March 2023 the charify wa5 entitled lo exemption from audit under section 477 of the Companies Act 2006 relating to small companie5. Directors, responsibilities: The members have not required the chority to obtain an audit of its accounts for the year in question in accordance with section 476: and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The financial statements on poges 10 to 23 were approved by the trustees, and authorised for issue on 14 November 2023 and signed on their behalf by: Mr N Earle Trustee YJ ft7eEI Mr WG Meehan Trustee The notes on pages 13 to 23 form an irntegral part of these financial Statements. Poge 12
Taughmonagh Communlty Forum Limited Notes to the Flnanclal Statements for the Year Ended 31 March 2023 I Charify status The charity is limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital. Each of the trustees is liable fo conlribute an amount not exceeding £1 towards the assets of the charity in the event of liquidotion. The address of its registered office is: 19-21 Finwood Park Taughmonagh Belfast BT9 6QR These financial statements were authorised for issue by the trustees on 14 November 2023. 2 Accountlng pollcles Summary of slgnlfi¢ant accountlng pollcles and key accountlng estlmates The principal accounting policies applied in the preparation of these financial stotements are set out below. These policies have been consistentSy applied to all lh8 years presented, unless othetwise stated. statement of compllonce The financial statements have been prepared in accordanc8 with 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 IFRS 10211 lissued in October 20191- (Chorities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Basls of preparotlon Taughmonagh Community Forum Limited meets the definition of o public benefit entity under FRS 102. A55ets and liabilities are initially recognised at historical cost or transaction value unless otherwise Stated in the relevant accounting policy notes, Page13
Taughmonagh Communlty Forum Llmlted Notes to the Flnanclal Statements for the Year Ended 31 March 2023 Golng concern The finoncial statements have been prepared under the assumption that the charity will continue to operate as a going concern. A5 a result of recent historical deficits, the charity's reserves have been depleted. There is a material uncertainty related to these events that may cast significant doubt on the chorify's ability to continue 05 0 going concern and. therefore. may be unable to realise its assets and discharge its liabilities in the normal course of business. The charity is reliant upon the continued support of its funders. The trustees are confident that this support will continue for the forseeable future. The trustees have prepared financial projections and these provide them with some comfort on the fulure finonciol perfomance of the charity. Additionally, the trustees are currently taking steps to refocus the strategic direction of the charity in order to address the financial position. Clearly the recent opening of the Healthy Business Centre Is a key step for the trustees in achieving o return to a healthy financial position. On this basis, the trustees believe it is appropriate to prepare the financial 5tatement5 on a going concern basis. Income and endowments Incoming resources ore recognised when the conditions of entitlement, certalnfy and meosurement, as specified in the SORP, are met. Granls receivable Grants, which provide core funding, are to used in the furtherance of the charity's objectives generally. Charltable acrfvltles Incoming resources from charitable activities include monies received for the provision of charitable services, ond grants received for the provision of specific services.ln the opinion of the trusttes, all gronts received have been used for their intended purposes. Expendlture Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. Raising funds Costs of generating funds are the costs associated with generating incoming resources from all sources other thon from undertaking charitable activities. Charitable activities Direct charitable expenditure is that which is directly in furtheranc8 of the charity's objects. Support costs Support costs include central functions and have been allocated to activity cost categories on o bosis consistent with the use of resources, for example, allocating property costs by floor areas, or per capito, staff costs by the time spent and other costs by their usage. Poge 14
Taughmonagh Communlty Forum Llmlted Notes to the Flnanclal Statements for the Year Ended 31 March 2023 Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including accounting, strategic management and trustees meetings and reimbursed expenses. Taxatlon The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a chariloble company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gain5 received within categories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or goins are applied exclusively to charitable purposes, Tonglble flxed assets Tangible fixed assets are stated at cost less accumulated depreciation. Depreclalfon and amortlsatlon Depreciation is provided to write off the cost, less estimated residual value. of each asset over its expected useful life, at the onnual rate of 5% straight line. Trade debtors Trad8 debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initlally at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according lo the original terms of the receivables. Cash and cash equlvalent$ Cash and cash equivolents comprise cash on hand and call deposits. and other short-term highly liquid investments that are readily convertible to a known amount ot cash and are subject to an insignificant risk of change in value. Page 15
Taughmonagh Community Forum Llmlted Notes to the Financial Statements for the Year Ended 31 March 2023 Borrowings Interest-bearing borrowings are initially recorded at foir value, net of transaction costs. Interest-beoring borrowings are subsequently carried at omort15ed cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activitie5 over the period of the relevont borrowing. Interest expense is recogn15ed on the basis of the effective interest method and is included in interest payable and similor charges. Borrowings are classified as current liabilities unless the charity has an uncondilional right to defer settlement of the liability for ot least twelve months after the reporting dafe. Fund strudure Unrestricted funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity. Restricted funds are subject to specific conditions by donors and funders as to how they may be used. The purposes and uses of restricled funds are set out in the notes lo the financial statements. Page16
Taughmonagh Community Forum Llmlted Notes to the Flnanclal Statements for the Year Ended 31 March 2023 3 Income from charilable actlvltles Unrestrlcted funds General Total 2023 Scribbles day nursery Belfast City Counci Bollynafeigh Community Development other income Communify foundation 293,953 24,245 500 4.006 1,687 293,953 24,245 500 4,006 1,687 324,391 324,391 Unrestrlcted funds General Total 2022 Scribbles day nursery Belfast City Council Ballynofeigh Community Development other income Rental income Foward south partnership 296,463 23,500 900 13,769 12,000 1 ,500 296,463 23,500 900 13,769 12,000 1,500 348,132 348,132 Page17
Taughmonagh Community Forum Llmlted Notes to the Financial Statements for the Year Ended 31 March 2023 4 Expénditure on charitable actlvltles ActSvlty support Costs 2023 Slaff salaries & redundancy Travelling Premises costs Insurance Repair5 & maintenance Administration costs Programme costs Marketing ank interest & charges Depreciotion Release of capital grants 272,710 5,073 13,962 5.913 5.364 6,969 43,292 1.332 794 59,931 59.989 272,710 5,073 13,962 5,913 5,364 6.969 43,292 1,332 794 59,931 59,989 355,351 Actlvlty SUPPOrt costs 355,351 2022 Staff salaries & redundoncy Premises costs Insurance Repairs & maintenance Administration costs Programme costs Marketing Bank interest & charges Depreciation Release of capital grants 262,292 13,567 7,391 8,768 7,561 56,316 576 580 59,931 59,989 262,292 13,567 7,391 8,768 7,561 56.316 576 580 59,931 59.989 356,993 356,993 In addition to the expenditure analysed above, there are also governance costs of £1,980 12022- £1,800) which relate directly tc charitoble activities. See note 5 for further details. Page 18
Taughmonagh Community Forum Llmlted Notes to the Financial Statements for the Year Ended 31 March 2023 5 Analysls ot governance and support cost$ Governance costs Unrestrlcted funds General Total funds Allocated support costs 1,980 1,980 Total for 2023 1,980 1,980 Tolal for 2022 1,800 1,80) 6 Government grants The charity Is in receipt of government revenue grants cluring the year. These grants have been received from Belfast City Council. The amount of grants recognised in the financial statements was £24,24512022- £23,500). 7 Net Incomlng/oulgolng resources Net outgoing resources for the year include: 2023 2022 Depreciation of fixed assets Release of capitol grants 59,931 59.989 59,931 59,989 8 Trustees remuneratlon and expenses DurTng the year the charily made the following transactions with trustees: Mr N Earle £50712022: £7481 of expenses were reimbursed to Mr N Earle during the year. No trustee5, nor any persons connected with them, have received ony remuneration from the chority during the yeor. Page 19
Taughmonagh Communlty Forum Llmited Notes to the Flnanclal Statements for the Year Ended 31 March 2023 9 Staff costs The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows.. 2023 2022 No No Administration and support staff 14 14 Contributions to the employee pension schemes for the year totalled £4,21812022 - £3,623), No employee received emoluments of more than £60,000 during the year. 10 Taxatlon The charity is a registered charity and is therefore exempt from taxotion. I l Tanglble ftxed assets Land and bulldlngs Total Cost At l April 2022 1,198,618 1,198,618 At 31 March 2023 1,198,618 1,198,618 Depreclatlon At l April 2022 Charge for the year 233,276 59,931 233.276 59,931 At 31 March 2023 293.207 293,207 Net book valve At 31 March 2023 905,411 905.411 At 31 March 2022 965,342 965.342 Included within the net book value of lond and buildings above is £Nil12022 £Nill in respect of freehold land and buildings and £905,411 12022 - £965,342) in respect of leaseholds. Page 20
Taughmonagh Communlty Forum Limited Notes to the Flnanclal Statements for the Year Ended 31 March 2023 Restrlctlon on title and pledged as securlty Land and buildings with a carrying omount of £905,411 12022 - £965,342) has the following restriction on title: The Executive Office hos registered a ten year fixed charge on lands in a conveyance of 12th April 2017 adjacent to 27 Finwood Park, Belfost, lands in an assignment of 12th April 2017 situate on the north side of Finwood Park and west side of Malfin Drive in the city of Belfast. lands and premises in a lease of I st August 2015 known as 25127 Finwood Park, Belfost ond londs and premises in a conveyance of 12th April 2017 adjacent to 27 Finwood Park. Belfast. 12 Debtors 2023 Trade debtors 2,597 13 Credltors: amounts fallln9 dve wlthln on• year 2023 2022 Bank overdrafts other taxotion and social security Accruals 11,977 3,170 11,821 8,500 3,068 14,124 26,968 25,692 Page 21
Taughmonagh Community Forum Limited Notes to the Flnanclal Statements for the Year Ended 31 March 2023 2023 2022 Deferred income at l April 2022 Amounts released from previous periods Deferred income at year end 1966,2631 59,989 11,026,252) 59,989 906,274 966,263 14 Credltors: amounts falling due after one yeor 2023 2022 Deferred income 906,274 966,263 15 Funds Balance at 31 March 2023 Balance at I Aprll 2022 Incomlng resources Resourcei expended Unrestrlcted funds General 8.249 357,331 24,691 Balanc• at 31 March 2022 Balance at I Aprll 2021 IncomSng resources Resources expended Unrestrlcted lunds General 18,910 348,132 358.793 8,249 Poge 22
Taughmonagh Community Forum Limited Notes to the Flnanclal Statements for the Year Ended 31 March 2023 16 Analysis of net assets between funds Unrestricted Total funds at funds 31 March General 2023 Tangible fixed assets Current assets CurTent liabilities Creditors over l year Total net assets 905,411 3,140 126,9681 906.274 905.411 3,140 126,9681 906,2741 24,691 24,691 Unrestrlcted Total lunds at funds 31 March General 2022 Tangible fixed assets Current assets Current liabilities Creditors over l year 965.342 34,862 125,6921 966,263 965,342 34,862 125,6921 966,263 Total nel assets 8.249 8.249 Poge 23
Taughmonagh Communlty Forum Llmlted Detailed Statement of Financlal Actlvltles for the Year Ended 31 March 2023 Total 2023 Total 2022 Income and Endowments from: Charitable activities lonalysed below) 324,391 348,132 Total income 324,391 348,132 Expendlture on.. Charitable activitie5 lanalysed below) Total expenditure 357,331 358.793 357,331 358,793 Net expenditure 32,940 10,661 Nel movement in funds 132,9401 110,6611 R•conclllatlon of tund$ Total funds brought forward Total funds corried foward 8,249 18,910 24,691 8,249 Th15 page does not form part of the statutory financiol statements. Page 24
Taughmonagh Community Forum Llmlted Detalled Statement of Financial Activlties for the Year Ended 31 March 2023 Total 2023 Total 2022 Charltable activities Forward south partnership Ballynafeigh community development Public health agency Belfast city council Community foundation Taughmonagh social club Administration fees Rental income Bank interest received Scribbles day nursery 1.500 900 768 23.5 500 192 24.245 1.687 10,o()J 3,000 12,OCQ 3,800 14 293.953 296.463 324.391 348,132 Charltable actlvltles Wages and salaries Travelling Light. heat and power Insurance Repairs and maintenance Telephone and fax Programme costs Advertising 8ank charges 8onk loan interest Depreciation of long leasehold property Release of capital grants Accountancy 1272.7101 15,0731 113,9621 15,9131 15,3631 16,9691 143.2921 11 ,3321 15341 12611 159,9311 59,989 1,980 1262,2931 113,5661 17.3911 18,7681 17,5611 156,3161 15761 14831 1971 159,9311 59,989 1,800 357,331 358,793 Thi5 page doe5 not form part of the statutory financial statements. Page 25