Belmont Playcare Statement of Financial Activities For the year Ended 30 June 2024 fvnds Total 2024 Total 2023 Income from: Donations and legacies Other trading activities Investments Other income 1,270 231,724 1,687 8.560 1,270 231,724 1,687 8,560 40 237,565 543 8,685 Total income 243,241 243,241 246,833 Expenditure on: Charitable activities Playcare expenses Governance costs 220,341 19,133 220,341 19,133 222,270 19,661 Total expenditure 239,474 239,474 241,931 Net income (deficit) for the year 3,767 3,767 4.902 Transfers between funds Net movement in funds 3,767 3,767 4,902 Reconciliation of funds." Total funds brought forward 138,956 15 138,971 134,069 Fund balances at 30 June 2024 142,723 15 142,738 138,971 The statement of financial acttvities includes all gains and losses recognised in the year. Ail income and expenditure derive from continuing activities. The statement of financial activities also complies wtth 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 2024 2024 2023 Fixèd assets Tangible assets 3.465 4,120 Current assets Debtors Cash at bank and in hand 3,465 4,120 12 4.645 172,244 4,003 170,369 176,889 174,372 Creditors: amounts falling due within one year 13 (37,616) (39,521} Net current assets 139,273 134,851 Total assets less current liabilities 142,738 138,971 Income funds Restricted funds Unrestricted funds 14 14 15 142,723 15 138,958 Total charlty funds 15 142.738 138,971 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006 for the year ended 30 June 2024. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts under the requirements of the Companies Act 2006. The trustees responsibilities for ensuring that the charity keep5 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 company as at the end of the financial year and of its incoming reSoUrS and application of resourc&s, including its income and expenditure. for the financial year in accordan with 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 accordan with the provisions applicable to companies, subject to the small companies. regime. The financial statements We approved and authorised for issue by the Board on 21 October 2024. Signed on behalf of the board of trustees Sandy Micik Trustee Cli¥ reth Mooney Trustee
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2024 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 Northem Ireland and a registered charity in Northem Ireland. The address of the registered office is 215 Belmont Road. 8elfast, BT4 2AG. The charity constitutes a public benefit entity as defined by FRS 102. The financial ststements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their acwunts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 18 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Stsndard 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 Practice. The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include cash flow statement 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 ststements are presented in sterling which is the functional 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 consistently applied to all years presented unless otherwise stated, (b) Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have 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 fijnd 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 administering 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 fvnds represent those assets which must be held pemanently by the charity. Income arising on the endowment funds 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. Investment management charges and legal advits relating to the fund are charged against the fund. (c) Income recognition All incoming resources are included in the Statement of Financial Activities {SoFA) when the charity is legally entitled to the income after any performan conditions have been met, the amount can be measured reliably, 2nd it is probable that the income will be reived. For donations to be recognised the charity will have been nots'fied of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fijlly met or the 10
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2024 fulfilment of those conditions is within the control of the charity and tt is probable that they will be fulfilled. Donated facilities and donated professional servIS are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the chartty has control over the item. Fair value is detemined 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 orresponding 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 recetvable and are included at fair value. They are not deferred over the life of the asseL For legacies, entitlement is the earlier of the charity being notified of an impending distribution 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 rneasu the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. 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 seNices in order to raise fvnds and is recognised when entitlement has occurred. The charity receives government grants. Income from government and other grants are recognised at fair value when the charity has entitiement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts 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 arnount can be measured reliably. Interest income is rewgnised using the effective interest method and dividend and rent income is recognised as the charity's right to receive payment is established. Other income includes the conversion of endowment fvnds into income which arises when capital funds are released to an income fund from expendable endowments or when a charity has authority to adopt a total return approach to tts pemanent endowment fund. It also includes other income such as gains on disposals of tangible fixed assets. (d) 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 settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings.. Costs of raising funds", Expenditure on charitable activities includes; and Other expendffcure represents those items not falling into the categories above. Irrecoverable VAT is charged as an expense against the acts'vity for which expenditure arose. 11
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2024 (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, govemance costs, administrative payroll costs. They are incurred directiy in support of expenditure on the objects of the charity. Where support costs cannot be direcuy attributed to particular headings, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources 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. (0 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 tsngible fixed assets, at rates calculated to write off the cost. less eskn'mated residual value, of each asset on a systematic basis over its expected useful life as follows.. Fixtures and fittings 150A per annum reducing balan (g) Debtors and credltors recelvable I payable wtthln one year Debtors and creditors with no stated interest rate and re1vable or payable within one year 8re recorded at transaction price. Any losses arising from impairment are recognised in expenditure. (h} Loans and borrowings Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequendy, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transa&ion it is measured at present Value. (i) Impairment 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 amounL Where the carrying amount eXedS its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carrted at a revalued amount where the impairment loss is a revaluation decrease. (i) Provisions Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an oufflow of economic benefits will be required in settlement and the amount can be reliably estimated. (k) Leases Assets acquired under finan leases are capitalised and depCIated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payrnents are apportioned bebNeen the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations. net of future finance charges. are included in creditors. 12
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2024 Rentals payable and receivable under operating leases are charged to the SOFA on a straight-line basis over the period of the lease. (l} Employee benefits When employees have rendered Servi to the charity, short-tenn employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that sejvice. The charity operates a defined contribution plan for the benefit of its employees. Contributions 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 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. (n) Going concern The financial statements 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 InMe and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going cOnrn. Income from donations 2024 2023 Donations and gifts 1,270 40 1,270 40 Incorne from other trading activities 2024 2023 Fundraising events Fees Education Authority 1,402 145,612 84,710 1,637 151,888 84,040 231.724 237,565 Income from other trading activities was £231,724 (2023 - £237.565) of which £231,724 was attributsble to unrestrtcted funds. 13
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2024 Income from investments 2024 2023 Interest receivable 1,687 543 1,687 543 Income from investrnent was £1,687 (2023 - £543) of which £1,687 was attributable to unrestricted fiJnds. Other income 2024 2023 Government grants Sundry income 8,026 534 8,260 425 8,560 8,685 Other income was £8,560 (2023 - £8,685) of which £8.560 was attributable to unrestricted funds. Activities undertaken directly Unrestricted fijnds 2024 2023 Playcare expenses Wages Pension costs Staff training Rent Utility charges Insurance Cleaning Depreciation P & L on disposal Travel costs Storage 10,549 196,812 2,885 146 600 3,572 2,763 2,359 655 10,549 196,812 2,885 146 600 3,572 2,763 2,359 655 12,850 191,909 2,428 604 600 7,844 2,465 2,237 1.223 Total 220,341 220,341 222.270 14
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2024 Governance and support costs Unrestricted fvnds 2024 2023 Repairs & maintenance Postage & ststionery Telephone Computer costs Legal & professional Advertising Accountancy Insurance Bank charges Sundry Gifts Subscriptions 2.714 2,274 1,178 4,808 4,151 119 1,950 2,714 2,274 1,178 4,808 4,151 119 1.950 3,387 2,263 2,700 2,569 4,592 269 2,020 135 547 549 708 135 547 549 708 137 750 731 243 19,133 19,133 19,661 Trustees None of the trustees (or any person connected wtth them) received any remuneration or benefits from the charity during the year. Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Employees 15 17 10 Staff costs and employee benefits No employees receNed total employee benefits (excluding employer pension costs) of more than £60,000. 15
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2024 11 Tangible red assets Fixtures & fittings Cost: At 1 July 2023 Additions Disposals At 30 June 2024 21,410 21,410 Depreciation: At 1 July 2023 Charge for the year On Disposal At 30 June 2024 17,290 655 17,945 Net book value: At 30 June 2024 3,465 At 30 June 2023 4,120 12 Debtors 2024 2023 Trade debtors Other debtors Prepayments and accrued income 2,278 1,537 830 2,924 1,079 4,645 4,003 13 Creditors: amounts falling due within one year 2024 2023 Trade creditors Other tax and social security Accruals and deferred income 637 1,788 35,191 525 900 38,096 37,616 39,251 16
Belmont Playcare Notes to the Financial Statements For the Year Ended 30 June 2024 14 Fund reconciliation Unrestricted funds Balance at 2023 Gains I (losses) Balance at 2024 Income Expenditure Transfers Unrestricted 138.956 248,489 244,722 142.723 134,054 248.489 244,722 142,723 Restricted funds Balance at 2023 Gains I (losses) Balance at 2024 Income Expenditure Transfers Restricted 15 15 15 15 15 Analysls of net assets between funds Unfestri¢t*¢ funds Re5trict•d funds Total 2024 2024 2024 Fixed assets Current assetsl(liabilities) 3,465 139,258 3,465 139,273 15 Total 142,723 15 142,738 17