Belmont Playcare Statement of Financial Activities For the year Ended 30 June 2023 Total 2023 Total 2022 Income from: Donations and legacies Other trading activities Investments Other income 40 237,565 543 8,685 40 237,565 543 8,685 17 228,441 66 11,067 Total income 246,833 246,833 239,591 Expenditure on: Charitable activities Playcare expenses Governance costs 222,270 19,661 222,270 19.661 211,453 19,522 Total expenditure 241,931 241,931 230,975 Net income (deficit) for the year 4,902 4,902 8.616 Transfers between funds Net movement in funds 4,902 4,902 8,616 Reconciliation of funds: Total funds brought foThvard 134.054 15 134,069 125,453 Fund balances at 30 June 2023 138,g56 15 138,971 134,069 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activibes. The statement of financial activities also complies wilh the requirements for an income and expenditure account under the Companies Act 2006.
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2023 2023 2022 Fixed assets Tangible assets 11 4,120 5,343 4,120 5,343 Current assets Debtors Cash at bank and in hand 12 4,003 17C,369 2,690 163,186 174,372 165,876 Creditors: amounts falling due withln one year 13 (39,521) {37,150) Net current assets 134,851 128,726 Total assets less current liabilities 138,971 134,069 Income funds Restricted funds Unrestricted funds 14 14 15 138,956 15 134,054 Total charity funds 15 138,971 134,069 The company is entitled to the exemption from the audit requirement contsined in section 477 of the Companies Act 2006 for the year ended 30 June 2023. No member of the company has deposited a notice, pursuant to section 476, requiring an audrt of these accounts under the requirements of the Companies Act 2006. The trustees responsibilities for ensuring that the charity keeps accounting records which comply with Section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the ompany as at the end of the financial year and of its incoming resources and applicab'on of resources. including its income and expendtture. for the fsnancial year in accordance wtth the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. These accounts have been prepared in accordance with the provisions applicable to companies, subject to the small companies, regime. The financial ststements were approved and authorisea for issue by the Board on 16 October 2023. Signed on behalf of the tx)ard of trusteec Sandy Micik Trustee ey Trustee
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2023 Company Registration No. N1605718 Summary of significant accounting policies (a) General information and basis of preparation Belmont Playcare is a private company limited by guarantee, registered in Northern Iieland and a registered charity in Northern Ireland. The address of the registered Offi is 215 Belmont Road, Belfast, B T4 2AG. The charity constrtutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charits"es: Statement of Recommended Practs'ce applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 JUSY 2014 las updated through Update Bulletin 1 published on 2 February 20161, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102}, the Charities Act (Northern Ireland) 2008, the Companies Act 2006 and UK Generally Accepted Accounting Practi. The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow ststement on the grounds that it is applying FRS 102 Section 1A. The financial statements are prepared on a going concem basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the fvnctional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been Gonsistently applied to all years presented unless othemise stated. (bl Funds Unrestricted funds a available for use at the discreb.on of the trustees in furtherance of the general objectives of the charity and wb.ich lave not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes The Cost of raising and administenng such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Endowment funds represent those assets which must be held permanently by the charity. Income arising on the endowment fijnds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. I nvestment management Gharges and legal advi relating to the fvnd are charged against the fund. (c) Income recognition All incoming resources are included in the Statement of Financial Activities (SoFA} when the chartty is legally entled to the income after any performance cors.ditions have been met, the amount can be measured reliably. and it is probabte th2t the income'wlli be received. For donations to be recognised the charity will have beery notified of the amounis and the settlement date in writing. If there are conditloli s attached to the donation and this requires a level of pert)rmance before entlernent can be obtsined. then income is de.erred until those conditions are fvlly met or the 10
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2023 fulfilment of those conditions is within the control of the charty and st is probable that they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is detemiined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees. Annual Report. Fixed asset gifts in kind are recognised when re1vable and are included at fair value. They are not deferred over the life of the asset. For legacies, entitlement is the earlier of the charty being notified of an impending diotribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these cccasions, the legacy is treated as a contingent asset and disdosed. Income from trading activities includes income eamed from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entidement has occurred. The charity recetves government grants. Income trom government and other grants are recognised at fair value when the charity has entitlement after any perfomants condib'ons have been met, it Is probable that the income will be r1ved, and the amount can be measured reliably. If entitlement is not met, then these arnounts are deferred. Investment income is eamed through holding assets for investment purposes such as shares and propety. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effeth've interest method and dividend and rent income is recognise6 as the charity's right to re1ve payment is established. Other income includes the conversion of endowment funds into income which arises when capital nds are released to an income fund from expendable endowments or when a charity has authority to -dopt a total return approach to its permanent endowment fund. It also includes other income such as gains on disposals of tangible fixed assets. {dl Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the sett]ement will be required, and the amount of the obligotion can be measured reliably. It is categorised under the following headings- Costs of raising nds", Expenditure on charitable activities inc5udes', and other expenditure represents those items not falling into the categoiies above. Irrecoverable VAT is charged aD. expense against the activity for which expenditure arose.
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2023 (e) Support costs allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include Offi costs, governan costs. administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. lthere support costs cannot be directly attributed to particular headings, they have been allocated to cost of raising ndS and expenditure on charitable acb'vities on a basis consistent with u* of the reSoUrS Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. (fj Tangible fixed assets Tangible fixed assets are stated at cost (or deemed cost} or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows,. Fixtures and fittings 150A per annum reducing balance (g) Debtors and creditors receivable I payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. (h) Loans and borrowings Loans and borrowings are inÉtially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finan transaction it is measured at present value. (i) Impaimient Assets not measured at 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 cash generating unit, is estimated and compared to the carying amount. Where the carrying amour,t exceeds its recoverable amount. an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount wher6 the impaiment loss is a revaluation decrease, ti) Provisions Provisions are recognised whAn the charity has an obligation at the balance sheet date as a result of a past event, rt is probable that an outhow of economic beiiefits will be required in settlement and the amount rAn be reliably estimated. {k) Leases Assets¢ acquired under finan leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset minirr.iim lease payments are apportioned between Lhe finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finan charges. are included in creditors. 12
Belmont Playcare Notes to the Finrincial Statements For the Year Ended 30 June 2023 Rentals payable and re1vable under operats'ng leases are charged to the SOFA on a straight-line basis over the period of the lease. (l) Employee beneftts When employees have rendered seiCe to the charity, short-temi employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The charty operates a defined contribution plan for the benefrt of its employees. contributs.ons are expensed as they become payable. (m) Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 201Q and therefore it meets the definition of a charitable company for UK corporation tax purposes. (n) Going concern The financial ststements have been prepared on a going concem basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves ft)r the charity to be able to continue as a going concern. Income from donations 2023 2022 Donations and gifts 40 17 40 17 Income from other trading actfvities 2023 2022 Fundraising events Fees Education Authority 1.637 151.888 84.040 3,035 129,358 96,048 237,565 228,441 Incorne from othertrading adivities was £237.565 (2022 - £228,441) of whicb. £237,565 was attributable to uniestricted funds. 13
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2023 Income from investments 2023 2022 Interest receivable 543 66 543 66 Income from investment was £543 (2022 - £66) of which £543 was attributable to unrestricted funds. Other income 2023 2022 Government grants Sundry income 8,260 425 10,645 422 8,685 11,067 Other income was £8.685 (2022 - £11.067) of which £8,685 was attributable to unrestricted funds. Activittes undertaken directly Unrestricted funds 2023 2022 Playcare expenses Wages Pension costs Staff training Rent utility charges Insurance Cleaning Depreciation P & L on disposal Travel costs Storage 12,850 191,909 2,428 604 600 7,844 2,465 2,347 1,223 12,850 191,909 2,428 604 600 7,844 2,465 2,347 1,223 19,192 177,950 2,371 332 825 5,452 2,184 2,204 943 Total 222,270 222,270 211,453 14
Belmont Playcare Notes to the Financial Ststements For the Year Ended 30 June 2023 Governance and support costs Unrestri¢Xed funds 2023 2022 Repairs & maintenan Postage & stationery Telephone Computer costs Legal & professional Advertising Accountancy Insurance Bank charges Sundry Gifts Subscriptions 3.387 2,263 2,700 2,569 4,592 269 2,020 3,387 2,263 2,700 2,569 4,592 269 2.020 3,112 2,246 1,733 3,371 5,158 420 1,740 137 750 731 243 137 750 731 243 120 344 895 383 19,661 19,661 19,522 Trustees None of the trustees (or any person connected with them) received any remuneration or benefits from the charity during the year. Employees The average monthly number of employees during the year was." 2022 Number 2022 Number Employees 17 17 10 Staff costs and employee benerrts No employees reNed total empkiyee benefits (excluding employer pension costs} of more than £60,000. 15
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2023 11 Tangible fixed assets Fixtures & fittings Cost: At 1 Juty 2022 Additions Disposals At 30 June 2023 22,727 {1,3171 21,410 Deprèciation: At 1 July 2022 Charge for the year On Disposal At 30 June 2023 17,384 1,223 (1,317) 17,290 Net book value: At 30 June 2023 4,120 At 30 June 2022 5,343 12 Debtors 2023 2022 Trade debtors Other debtors Prepayments and accrued income 2,924 1,540 1,079 1,150 4,003 2,690 13 Creditors: amounts falling due wfthln one year 2023 2022 Trade Greditors Other tax and social secur Accruals and deferred income 525 900 38,096 763 690 35,697 39,521 37,150 16
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2023 14 Fund COnc111atIOn Unrestricted funds Balance at 2022 Gains I (losses) Balance at 2023 Income Expenditure Transfers Unrestrtcted 134,054 246.833 241,931 138,956 134.054 246,833 241.931 138,956 Restricted funds Balance at 2022 Gains I (losses} Balan at 2023 Income Expenditure Transfers Restricted 15 15 15 15 15 Analysis of net assets between funds Unre51ricte¢l Restri¢ted funds funds Total 2Q23 2023 2023 Fixed assets Current assetsl(liabilrties) 4,120 134,836 4,120 134,851 15 Total 138,956 15 138,971 17