Greater Shankill Partnership
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
Restricted
funds Total funds
2023
Unrestricted
funds
Total funds
Note
Income and endowments
Donations and legacies
Charitable activities
other trading activities
Other income
2,537
49,599
13,440
5,796
2,537
1.557.631
13,440
5,796
1,579.404
15,147
1.411,904
20.552
57,880
1,505,483
1,508,032
Total income
71,372
1,508,032
Expenditure
Expenditure on charitable activities
Total expenditure
9,10
93,115
93,115
1,429,792
1,429.792
1.522,907
1,746,698
1,746,698
1,522,907
Net incomel(expenditure)
{21,7431
78,240
56,497
1241,2151
Transfers be￿een funds
(10,949)
10,949
Net movement in funds
(32,692)
89,189
56,497
1241,215)
Recon¢lliation of funds
Total funds brought forward
Total funds carried forward
988,952
25,597
114,788
1,014,549
1,071,048
1,255,764
1.014,549
956,260
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 16 to 30 fomi part of these finanGial ststements.
13

Greater Shankill Partnership
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
Fixed assets
Tangible fixed asset5
Investments
15
16
613,600
626,308
613,604
626,312
Current assets
Debtors
Cash at bank and in hand
17
172,484
336,904
89,137
354.402
509,388
443,539
Creditors: amounts falling due within one year
Net current assets
19
51,946
457,442
1.071,046
1.071,046
55,302
388,237
1,014,549
1,014,549
Total assets less current liabilities
Net assets
Funds of the charity
Restricted funds
Unrestricted funds
114,786
956,260
22 1,071,046
25,597
988,952
Total charity funds
1,014,549
These financial statements were approved by the board of trustees and authorised for issue on 4
September 2024, and are signed on behalf of the board by:
E Carlisle
Trustee
The notes on pages 16 to 30 form part of these financial statements.
14

Greater Shankill Partnership
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
Note
Cash flows from operating activities
Net incomellexpenditurel
56.497
1241,215)
Adjustments for..
Depreciation of tangible fixed assets
Interesi payable and similar charges
Accrued income
12,708
827
(3,418)
15,147
1,265
(12,729)
Changes in..
Trade and other debtors
Trade and other creditors
(83,347)
13,302
13.431)
285.868
(6.9571
41,379
Cash generated from operations
Interest paid
Net cash (used in}Ifrom operating activities
{827}
{4,258}
(1,2651
40,114
Cash flows from financing activities
Proceeds from borrowings
Proceeds from loans from group undertakings
Net cash (used inllfrom financing activities
304
(1,323)
(1,019)
5.939
5,939
Net {decrease)lincrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
15,277)
341,460
46,053
295.407
18
336,183
341,460
The notes on pages 16 to 30 form part of these financial statements,
15

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
General information
The charity is a public benefit entity and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is The Spectrum Centre, 331- 333 Shankill Road, Belfast, BT133AA.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable the UK and the Republic of Ireland,, the 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 (FRS 102} (Charities
SORP IFRS 102)) and the Companies Act 2006.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilitie5 and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors, including expectations of
future events that are believed to be reasonable under the circumstances.
Fund a¢¢ounting
Unrestricted funds are available for use at the discretion of the trustees to fijrther any of the
charity's purposes.
Designated funds are unreslri¢ted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal, and fall into one of sub-classes.. restricted income funds or
endowment funds.
16

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity. it is probable that the economic benefits associated with Ihe transaction will
flow to the charity and the amount can be reliably measured. The following specific policies are
applied to particular categories of income..
income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is mèasured at the fair value of the goods unless this is
impractical to measure reliably, in which case the value is derived from the Gost to the donor
or the estimated resale value. Donated facilities and services are recognised in the accounts
when received if the value can be reliably measured. No amounts are included for the
contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a conlra¢lual
requirement for tt to be spent on a particular purpose and returned if unspent. in which case
it may be regarded as ￿$trICted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which Gannot be fully recovered, and is classified under headings of the statement of
financial activities to which it relates..
expenditure on raising funds includes the costs of all fundraising activities, events, non-
charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating lo the governance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity Shared costs are apportioned
be￿een the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at Gost, and Subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
17

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements fcontinuedj
Year ended 31 March 2024
Accounting policies (continuedj
Tangible assets (continuedj
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the loss is shown within
other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the Cost or valuation of an asset, less its residual
value. over the useful economic life of that asset as follows..
Freehold propety
Fixtures and fittings
Equipment
2 % straight line
200/D Straight line
200/0 Straight line
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair
value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in
income or expenditure.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost
less any accumulated impairment losses.
Investments in associates accounted for in aGcordance with the fair value model are initially
recorded at the transaction price At each reporting date. the investments are measured at fair
value, with changes in fair value taken through income or expenditure. Where it is impracticable
to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions re￿iVed from the investment are recognised as income without
regard to whether the distributions are from accumulated profits of the associate arising before or
after the dale of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are
recorded at cost less any accumulated impairment 5osses.
Investments in jointly controlled entities accounted for in accordance with the fair value model are
initially recorded at the transaction price. At each reporting date, the investments are measured at
fair value, with changes in fair value taken through income or expenditure. Where it is
impracticable to measure fair value reliably without undue cost or effort, the cost model will be
adopted.
18

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements (conlinugd)
Year ended 31 March 2024
Accounting policies (conlinuedj
Investments in joint ventures {contlnued)
Dividends and other distributions received from the investment are recognised as income without
regard to whether the distributions are from accumulated profits of the joint venture arising before
or after the date of acquisition.
Impairment of fixed assets
A review for indicators of irnpairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the cash-
generating unit to which the asset belongs. The ¢ash-generating unit is Ihe smallest identifiable
group of assets that include5 the asset and generates cash inflows that largely independent of the
cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is. from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.
Debl instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otheTwise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.
Other financial instruments, inGluding derivatives, are initially recognised at fair value. unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes
recognised in the statement of financial activities, with the exception of hedging instruments in a
designated hedging relationship.
19

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
Accounting policies (¢ontinued)
Financial instruments (eontlnuedj
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significant, these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
Defined ¢ontribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related Servi￿ is provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in
the period in which it arises.
Limited by guarantee
The company. being a company limited by guarantee. does not have share capital. The liability of
members of the company is limited lo £1 per member.
Donations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Donations
Donations - Non Gift Aid
2,537
2,537
15,147
15,147
20

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements (conlinued)
Year ended 31 March 2024
Charitable activities
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Belfast Health and Social Care Trust
Street Beats
Executive Office - CIT 1 & 2
Department of Communities
Department of Employment and Learning via USDT
The Community Foundation
Belfast City Council
Department of Health
Department of Education through BHSCT
CFF
Department of Education - WBCP
Dormant Funds
CFF Mental Health Funding
143,305
23.022
95,407
187,456
143,305
23,022
95,4Q7
187,456
89,786
89,786
39,599
92,622
696,453
10,OQO
90,000
40,OQO
49,981
1,557.631
39,599
92,622
696,453
10,000
90.000
40,000
49.981
49,599
1,508,032
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Belfast Health and Social Care Trust
Street Beats
Executive Office- CIT 1 & 2
Department of Communities
Department of Employment and Learning via USDT
The Community Foundation
Belfast City Council
Department of Health
Department of Education through BHSCT
CFF
Department of Education - WBCP
Dormant Funds
CFF Mental Health Funding
71,665
28,428
97,955
156,519
70,242
2,833
12.814
184,875
672.240
71,665
28,428
97,955
159,519
70,242
2,833
12.814
184,875
672.240
12,333
99.000
3,000
12,333
99,000
15,333
1,396,571
1,411,904
other tTading activilies
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Other income from trading activities
Extern
Boysmodel
653
17,126
2,773
20,552
653
17,126
2,773
20,552
12,060
1,380
12,060
1,380
13,440
13,440
21

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements {conlinueclJ
Year ended 31 March 2024
other income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Other income
Refunds
Interproject recharge
5,796
5,796
5,828
317
51,735
5,828
317
51,735
5,796
5,796
57,880
57,880
Expenditure on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Charitable activities
Support costs
93,115
1.411,980
17.812
1,505,095
17.812
93,115
1,429,792
1,522,907
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Charitable activities
Support costs
338,576
18,853
357,429
1.389,269
1,727,845
18,853
1,746.698
1,389,269
10. Expenditure on charitable actlvlties by activity type
Activities
undertaken
directly Support costs
Total funds
2024
Total fund
2023
Charitable activities
Governance costs
1.505,095
1,505,095
17,812
1,522.907
1,727.845
18.853
17,812
17,812
1,505,095
1.746.698
11. Net incomel(expenditurel
Net incomellexpenditure) 15 Stated after chargingl{crediting)'.
2024
2023
Depreciation of tangible fixed assets
12,708
15,147
22

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements (¢ontinuerlJ
Year ended 31 March 2024
12. Auditors remuneration
2024
2023
Fees payable for the audit of the financial statements
9.715
9,072
13. staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows-
2024
2023
Wages and salaries
Social security costs
Employer contributions to pension plans
918,196
61,662
18.718
932,785
60.473
23,215
1,016,473
998,576
The average head count of employees during the year was 49 {2023'. 48). The average number
of full-time equivalent employees during the year is analysed as follows..
2024
2023
No.
Numberofstaff - type 1
49
48
No employee received employee benefits of more than £60,000 during the year12023'. Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were
received by the tnjslees during the year.
15. Tangible fixed assets
Freehold Fixtures and
propety
fittings
Equipment
Total
Cost
At 1 April 2023 and 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
780,000
17,552
17,995
815,547
156,000
11,700
17,552
15,687
1,008
189,239
12,708
201,947
167,700
17,552
16,695
Carrying amount
At 31 March 2024
612,300
1,300
613,600
626,308
At 31 March 2023
624,000
2,308
23

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements {eontlnuedJ
Year ended 31 March 2024
16. Investments
Shares in
group
undertakings
Cost or valuation
At 1 April 2023 and 31 March 2024
Impairment
At 1 April 2023 and 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023
All investments shown above are held at valuation.
17. Debtors
2024
2023
Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income
Early Years debtor
Other debtors
153,493
30,539
11,260
12,642
2,764
31.932
12,143
6,638
210
172,484
89,137
18. Cash and cash equivalents
Cash and cash equivalents comprise the following..
2024
2023
Cash at bank and in hand
Bank overdrafts
336,904
(7211
336,183
354,402
(12,9421
341,460
24

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements (¢ontinuedJ
Year ended 31 March 2024
19. Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
Trade creditors
Amounts owed to group undertakings
Accruals and deferred income
Social security and other taxes
Other creditor5
1,025
19,957
4,616
15,715
4,694
5,939
51,946
12.942
11,805
5,939
21,083
3,533
55,302
The bank loans and overdrafts of £1,02512023'. £12,942) disclosed under creditors falling within
one yeai, are secured by the charity.
Bank overdrafts are secured by a legal charge of company owned property. GSP also secure
subsidary company's IGSPDD} overdraft facilities by a legal charge of company owned propety.
20. Deferred income
2024
2023
At 1 April 2023
Amount released to income
Amount deferred in year
At 31 March 2024
1,950
11,950)
1,950
1,950
21. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £18.718 (2023,. £23,215).
25

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Ststements (continued)
Year ended 31 March 2024
22. Analysis of charitable funds
Unrestricted funds
At
31 March 202
At
1 April 2023
Income Expenditure
Transfers
General funds
988,952
71,372
193,1151
110,949)
956,260
At
31 March 202
At
1 April 2022
Income Expenditure
Transfers
General funds
624,229
108,912
1357,429)
613,240
988,952
Restricted funds
At
31 March 202
At
1 April 2023
Income Expenditure
Transfers
Greater Shankill
Renewal Fund
Greater Shankill
Renewal Fund -
Restricted Fund 2
BHSCT HUB
BHSCT- BOAG
Street Beats
Executive Office - CIT 1
& 2 and CIT Youth
Department of
Communitie5 - NR
Departmenl of
Communities- NR
Coordinator
Department of
Employment and
Learning via USDT
{CFSPI
CFNI - Jubilee Funding
Belfast City Council
Department of Health
Department of Education
through BHSCT-
Surestart
Department of Education
-WBCP
119,072
24,233
23,022
1119,0721
(24,233)
(28,630)
5,608
3,966
95,408
{110,051)
10,677
123
134,918
{135,041)
15,997
115,997)
12,814
3,086
112,814)
195,708)
92,622
696,453
(696,453)
90,000
190,272)
272
26

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
22. Analysis of charitable funds (continued)
Department of
Communities - additional
funding
Department of
Communities- Minor
Improvement Scheme
CFF- Mental Health
Funding
Dormant Funds
The Community
Foundation
9,646
19,646)
26,894
{26,8941
49,981
40,000
(49,9811
(12,000)
28,000
89,786
13,000)
1,508,032 (1,429,792)
86,786
114,786
25,597
10,949
At
31 March 202
At
1 April 2022
Income Expenditure
Transfers
Greater Shankill
Renewal Fund
Greater Shankill
Renewal Fund -
Restricted Fund 2
BHSCT HUB
BHSCT- BOAG
Street Beats
Executive Office - CIT 1
& 2 and CITYouth
1,049,598
(1,049,598)
(418,063)
418.063
44,879
26.786
28,429
(44,879)
(26,786)
122,821)
5,608
97,955
{93,989}
3,966
27

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements (continuedj
Year ended 31 March 2024
22. Analysis of charitable funds {conlinuedJ
Department of
Communities- NR
Department of
Communities- NR
Coordinator
Department of
Employment and
Learning via USDT
{CFSPI
CFNI - Jubilee Funding
Belfast City Council
Department of Health
Department of Education
through BHSCT-
Surestart
Department of Education
- WBCP
Department of
Communities - additional
funding
Department of
Communities - Minor
Improvement Scheme
CFF- Mental Health
Funding
Dormant Funds
The Community
Foundation
139,594
(139,4711
123
16,924
(18,394)
1,470
70,242
2,833
12.814
184,875
170,242)
(2,833)
12.814
3,086
1181,789}
672.240
{689,065)
16,825
99,000
199,000)
631,535
1,396,571
{1,389,2691
(613,240)
25,597
28

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements fconlinuedj
Year ended 31 March 2024
23. Analysis of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
613,600
613,600
370,610
(27,9501
138,778
509,388
{27,950)
{23,996)
1,071,046
{23,9961
114,786
956,260
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
619,006
7,302
626,308
375,586
(5.640)
67,953
(49,6621
443,539
{55.302)
988,952
25,597
1,014,549
24. Taxation
The Company is a registered charity, and as such is entitled to tax exemptions on income and
profits in furtherance of the charity's primary objectives.
25. Contingencies
A contingent liability exists to repay grants and Trust monies received should certain conditions
not be fulfilled by the charity. In the opinion of the Trustees, the terms of the Letters of Offers
have been, or will be, complied with and no liability is expected.
26. Ethical standards
In common with many other businesses of our size and nature we use our auditors to prepare
and submit returns to the tax authorities and assist with the preparation of the financial
statements.
27. Analysis of changes in net debt
At
At 1 Apr 2023 Cash flows 31 Mar 2024
Cash at bank and in hand
Bank overdrafts
354,402
(12,942)
341,460
(17,498)
12,221
(5,2771
336,904
1721)
336,183
29

Greater Shankill Partnership
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
28. Related parties
The Early Years Company
The Early Years Company Limited is a wholly owned subsidiary of Greater Shankill Partnership
{"GSP"I.
Mature of transactions during the year..
2024
2023
Amounts owed by group undertakings- Early Years
6,638
2,764
Greater Shankill Partnership Property Development Co. Limited
Greater Shankill Partnersip Propety Development Co. Limited I'GSPPD") is a wholly owned
subsidiary of GSP.
Nature of transactions during the year..
2024
2023
Amounts owed to group undertakings - GSPPD
4.616
5,939
30