TEMPLEMORE AVENUE SCHOOL TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unreslricted Restrlctèd funds funds 2025 2025 Total Unrestrictad Restricted funds funds 2024 2024 Total 2025 2024 Notos Income from: Charitab18 activities 206.136 206.136 191,036 191.036 Total Income 206,136 206.136 191,036 191,036 Expendlture on: Charitable activities Other expenditure 184.879 445 70,052 254,931 445 167,000 543 73,794 759 240,794 1.302 Toial expondlturo 185.324 70,052 255.376 167,543 74,553 242,096 Net in¢omel{expendlluro) and movement in funds 20.812 (70.052) (49.240} 23,493 (74,553) (51,060) Reconciliation of funds: Fund balances at 1 April 2024 183,716 2,620.961 2.804.677 160,223 2,695,514 2,855,737 Fund balances at 31 March 2025 204.528 2,550,909 2,755,437 183.716 2,620,961 2,804,677 The statement of financial actlvltles includes all gains and losses recognised in the year. All Income and axp8nditure derive from continuing activities. 10
TEMPLEMORE AVENUE SCHOOL TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notos Fixed assets Iniangible assets Tangible assets 11 12 2,031 2,594,469 2.662.630 2.596.500 2,662,630 Current assets Debtors Cash at bank and in hand 13 6,475 163.069 7,600 145.770 169,544 153.370 Creditors: amounts falllng due within one year 14 {10,6071 (11.323) Net cutrent assets 158.937 142,047 Total assetsloss current Ilabilltles 2,755.437 2.804,677 Ineame funds Restricted funds unStrICted fvnds 2.550.909 204.528 2,620,961 183,716 2,755A37 2.804.677 These financial statements have been pr8par8d in accordance with the provisions appllcable to companies subject to the small companies regim6. The financial statements were approved by the Twstees on .... Catherine Pu Trustee Gareth Wright Trustoe Company R•glstratlon No. N1603783 11
TEMPLEMORE AVENUE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charlty Inforniatlon Ternplemore Avenue School Trust Is a private mmpany IiTnited by guarantee incorporated in Northern Ireland. The registered office is 55 Templemore Avenue. Belfast BT5 4FG. 1.1 Accountlng convention Th6 financlal statement8 have been prepared In accordance wlth the charity's Artldas of Association. the Companies Act 2006 and "Accounting and Reporting by Charities: Ststement of Recommènded Practice applicable to charities preparing their accounts in aCrdan with the Financial Reporting Stsndard applicable In the UK and Republlc of Ireland (FRS 102) (effective 1 January 2019).. The charity is a Public Benefft Entity as defined by FRS 102. The charity has taken advantage of the provlsions in thè SORP for charities applylng FRS 102 Update Bulletin 1 not lo prepare a Statement of Cash Flows. The financial ststements ar8 pr8par8d in sterling. which is the functional currency of the charity. Mon8tary amounts in these financial ststements are rounded to the nearest £. Th8 financial statements have been prepared under the historical cost convention. The principal accounting Iici8s adopted are set out below. 1.2 Golng concorn At the lime of approving the financial statsments. Ihe trustees have a reasonable expe¢taJon that the charity has adequate resources to conllnuo in operational exislence for the foreseeable future. Thus the trust88S continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitablo funds Unrestricted funds ar8 availabl8 for use at the discretion of the trustees In furtherance of thalr charitable objectives. Restricted funds are subject to specific conditions by donors as to how thay may be used. Th8 purposes and uses ol the rèstrictsd funds are sel out in the notes to the financlal statements. 1.4 Income Income is reGognised when the tharity is legally entitled to it after any performance conditi(Jns have been met. the amounts can be measured rellably, and it is probable that income will be r8c8ived. Other income is recognlsed in the pariod in which it is receivable and to Ihe extent the goods hav8 b@en provided or on completion of tha service. 12-
TEMPLEMORE AVENUE SCHOOL TRUST NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounllng policies (Contlnuèd) 1.5 Expendlture Expenditure is recognlsed once ther8 Is alegal or eonslructive obligation to transfer economic ben8fft to third party, it is probable that a transfer of economlc benefrts will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is dassllt8d by activity. The costs of each activity are mada up of the total of direct costs and shared costs, Including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which ontribule to more than one actSvity and support cosls which are not attrlbutable to a slngle activity are apportioned between those activitiès on a basis consislent with the use of sourCes. Central staff costs are allocaled on the basis of time spent, and dèpreclation charges allocated on the portion of the asset's use. Support costs are those costs incurred directly In support of expenditure on the obj8cts of the charity end include projèct management. Governance costs are those Incurred in conn8Ction with administr8tion of the charfty and complianc8 With constitulional and slalutory requirements. Charltable activities and Govemance costs are costs incurred on Ihe charity's operatlons, including support costs and costs relating to the govemanc8 of the company apportioned to charitable activities. All expendltur8 is inclusive of irreGoverable VAT. 1.6 Intsnglble flxed assets other than goodwill Intangible assets acqulred separately from a business are recognised at cost and are subsequenlly measured at cost less accumulated amortlsation and accumulatsd impa[ent losses. Intangible assets acquired on business comblnation5 are recognised separately from goodwill at the acquisition dat8 where it 18 probable that the expected future economic benefits that are attributable to the asset will fflow to the antlty and the fair value of the asset can be measured reliably., the Intangible asset arises from contractual or other legal rights: and th8 intangible asset is separable from the enUty- Amortlsation is recognised so as to write off the cost or valuation of ass8ts less their residual values over their useful lives on th8 follr)wing ba89S- Website 20% per annum straight line 1.7 Tanglblo flxed assets Tangible fix8d assets are initially measured at cost and subsequently measur8d at cost or wdluation. net of depreclatlon and any Impalmenl losses. Depreciation is recognised so a5 tt) write off the cost or valuation of assets less their residual value8 over their useful lives on the following bases: Freehold property Fixiures and fittings Computer equipment Office 8quipm8nt 2VD per annum straight line 20% per annum reducing balance 25% peT annum straight line 20% per annum stralghl Iln8 The gain or loss arising on the disposal of an asset is deterrnined as the difference between the sale pr¢X88ds and the Garrying value of the asset, and is regnISed in the statement of finan¢lal actlvities. 1.8 Impalrmont of flxèd assets At ea¢h reporting end dale, thè charity reviews the ¢arrying amounts of its tangible and intangiblè assets to d¢lemine whether thare Is any indication that those assets have suffered an impairmènt loss. If any such indication exists. the recoverablè amount of the asset is estimated in order to determine the 8Xt8nl of the impainnent loss (rf any). 13-
TEMPLEMORE AVENUE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policiès (Contlnued) 1.9 Cash and cash equlvalents Cash arKI cash equivalents include Gash In hand, deposlts h81d at call with banks, other short-term liquid investments with original maturitles of three months or18ss, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities, 1.10 Flnanclal Instruments The charity has elected to apply th8 provisions ot S8ction 11 '8asic Finan¢ial Instruments, and S8dion 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charlty's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financlal assets and liabllltlas are offsel. with the net amounts presented in the flnancial ststeménls, when there is a legally enforceable right to sét off the recA)gnised amounts and there is an intention to settle on a nat basis or to realise the asset and settle the liability simultaneously. Baslc flnanclal assots Basic financial assels. which include debl¢)rs and cash and bank balances, are initially measured at transactlon price including transaction costs and are subsequently carried at amortlsed cst using effective Interest method unless the arrangement constitutes a financing transaclion. where the transaction Is measured at the present valuè of th8 futur8 rec£ipts discounted at a market rate of InteresL Financial ass8ts dassified as receivable within one year arè not amortised. Basic financial liabilities Baslc financial liabilities, including creditors and bank loans are initially recognlsed at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument 15 measured at the present value of the future payments discount8d at a markel rate of interest. Financial liabilities classified as payable within one year are not amortlsed. Debt in61ruments are subsequently Carried at amortlsed cost. uslng the effective intgresl rate method. Trade credltors ar8 obligations to pay for goods or service5 that have been aUired In th8 ordinary course of operations from suppliers. Amounts payable are Glassified as current liabilities if paym8nl is duè within one year or less. If not, they are presented as nonwcurrent liabilities. Trade Creditors are racognlsed initially at transactlon price and subsequently measured at arnortised c08t Using the effective Interest method. Derecognition of financial liabilitles Financial liabiliti8s are derecognised when the charftys contractual obligations expir8 or ar8 discharged or cancellod. 1.11 Employee beneflts The cost of any unused holiday entitlement Is recognised in the period in which Ihe employee's services are rec8ived. Temiination benefits are r8cognised immediately as an expense when th8 chaiity is demonstrably committed to térmlnala th8 employment of an employee or to provide temiinatlon benefits. 1.12 Retirement benefjts Payment5 to defined contribution retirement benefit sch8m8s are charged as an expense as they fall due. 1.13 Company status The MpanY is a company limitsd by guarantee. The members of the company arè tha dlr8ctors named on page 2. In tho gvent of the cx)mpany being wound up, the Ilabllty in respect of th8 guarantee is Ilmit8d to £1 per member of th8 company. 14-
TEMPLEMORE AVENUE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THEYEAR ENDED 31 MARCH 2025 Crltlcal accountlng estimates and judgements In the epplicatlon of the charity's accounting policies, the trustees are required to make judgements. estimat8S and assumptions about the carrying amount of assets and liabilities that are not readlly apparent from other sources. The estimates and as50clated a55umptlons are based on historical experience and other factors that are considered to b8 relevanL Actual results may differ from thes8 estimates. Tho estlmates and undèrfying assumptions aff reviewed on an ongoing basls. Rovlsions tt) accounting estimates are recognised in th6 period in which the estimate is revised where the vIsion aff8cts only that period, or in the period of the vIsion and future periods where the revision affects both CUTnI and future periods. Koy sources of astirnation un¢orlalnty Flxed Assets The annual depreciation charge on fixed assets depends primarily on the estimated IIv8s of each type of asset and estimates of resldual values. The directors regularly review these asset Ilves and change them as necessary to reflect current thlnklng on remainlng lives in light of prospective economic utillsatlon and physlcal ndilion of the assets concemed. Changes in asset lives can have a signrficant impact on deprecialion ch8rg8s for the period. Detsil of the useful lives Is included in th8 accounling policig5. Charltablo actlvltios Ea$t Belfast Network Centre 2025 East Belfast Network Centre 2024 Room hire Rent and services charges Miscellaneous Incom8 41.857 151.733 12,546 38.985 151,085 966 206,136 191,036 Analysis by fund Unrestricted funds 206,136 191.036 15-
TEMPLEMORE AVENUE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable actMtIo8 East Belfast East Belfast Network Natwork Centre Centre 2025 2024 Stsff costs Depreciation and impairment Insurance Telephon8 and intem8t costs Cleaning materials Maintenance 48,759 81,931 10,280 12,666 4,583 22.773 46,901 82.267 9,559 14,608 4.289 8,471 r 11 Heal and light Water Volunt8er expen88S Bank charges Catering costs Miscellaneous 37,185 1,873 900 420 8.818 2,707 41,630 2,488 1,000 438 8,128 1,111 232,895 218,890 Share of support costs (see nots 5) Share of governan costs (see note 5) 18,000 4,036 18,000 3,904 254,931 240,794 Analysis by fund Unrestricted funds R8stricled funds 184,879 70,052 167,aoo 73.794 254,931 240,794 Support costs Support Governanco costs 2025 2024 Administratlon support costs 18.000 18,000 18.000 Audit fees 4,036 4,036 3.904 18.000 4,036 22.036 21.904 Analysed between Charitable activities 18,000 4.036 22.036 21.904 Governance costs includes payments to the aud110 of £4,03612024- £3,904) lor audil fees.
TEMPLEMORE AVENUE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Other expendltur Unrestrlctad Restricted funds funds 2025 2025 Total Unrestrfcted Restrfctsd funds funds 2024 2024 Total 2025 2024 Net1055 on disposal of tsngible fixed assets 445 445 543 759 1,302 Not movemont in funds 2025 2024 The net movèment in funds 18 Stated after chargingl{credltlng)'. Fees payable ftjr the audlt of the Charity's financial statements Depreciation of owned tangible fixed assets Loss on disposal of tangible fixed assets 4.036 81.931 445 3,904 82.267 1,302 Trustees NDn8 of the trustees {or any persons connectsd with them) rec81V8d any remuneration or benefits from th8 charity during the year. No trustee e1Ved reimbursement of expenses in the current year {2024 - nl}. Employees The average monthly number of employees during th8 year was.. 2025 Number 2024 Number Employment costs 2025 2024 Wages and salaries Other pension costs 44.939 3.820 43,227 3,674 48.759 46,901 The Gharity Is governed by the Board of Trustees and the day to day ¢Jperations are supeNised by the Executive Diredor of the charivs parent company. Consequently, no remuneration is paid by the charity to key rnanagement personnel for their services to the charity. Thera wer8 no employees whose annual remuneratlon was more than £60,000. 17-
TEMPLEMORE AVENUE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Taxatlon The charity is exempt from in¢om8 tax and capital gains tax to the extent that its income and gains ar8 applieLI for charitable purposes. No tax charge has arlsèn in the year. 11 Intanglblo flxed assets Webstte Cost At 1 April 2024 Additions - 88paraiely acquired 2,031 At 31 March 2025 2.031 Amortisation and impaimient At 1 April 2024 and 31 March 2025 Carrylng amount At 31 Mar¢h 2025 2,031 At 31 March 2024 12 Tangible flxed assets FM•hold FIxre* and fittings Computer ¢quipmtsnt Offic8 •quipment Total C05t At 1 April 2024 Additions Dlsposal$ 3.315,747 194.171 22.136 6,788 (972) 149,210 3,681,264 7,428 14,216 {54,051) {55,023} At 31 March 2025 3.315.747 194.171 27.952 102,587 3,840,457 D•proclation and impairment At 1 April 2024 Depreciation charged in Ihe year Eliminated in respect of disposals 708,109 66.315 164,678 5.899 16,637 3,836 (527) 129.211 5,881 {54.051) 1,018,635 81.931 154.578) At 31 March 2025 774.424 170.577 19.946 81.041 1,045.988 Carylng amount At 31 March 2025 2.541,323 23.594 8,006 21.546 2,594.469 At 31 March 2024 2.607.638 29,494 5,499 19.999 2,662.630 13 Debtor5 2025 2024 Amounts falllng duo Withln one year. Pr&payments and accrued income 6,475 7,600 18
TEMPLEMORE AVENUE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Credltors: amounts falling due within one year 2025 2024 Other credilors Accruals and def8rr8d income 2,205 8,402 1,425 9,898 10,607 11,323 15 Rotirement benefit schemes 2025 2024 Defingd contribution schemes Charge to profft or loss in re5peci of dèfined contrlbulion stheme8 3,820 3,674 16 Restrfcted funds The reslricted funds of the charlty compri88 the unexpended balaNS of donations and grants held on tnjst subject to specific condlllons by donors as to how they may be used. At l April 2024 Resources At 31 March exp8nded 2025 East Belfast Network Centre 2.620.961 170,052) 2.550,909 Prevlous year: ROurceS At 31 March expondad 2024 2023 East Belfast Network Centre 2,695,514 (74,5531 2,620,961 17 Unrestrlcted fvnds The unrestricted fiJnds of the charity ¢omprls8 the unexp8nded balances of donations and grants whlch are not subject to specific conditions by donors and grantors as to how they may be used. These include d8signated funds which have been set aside out of unrestricted funds by the trust88s for specific purposes. At 1 Aprll 2024 Incoming resources Resourc•s At 31 March expendod 2025 General funds 183.716 206.136 1185,3241 204,528 19-
TEMPLEMORE AVENUE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Unrostricted funds (Contlnued) Previous year: At 1 April 2023 Incoming ResOUeS At 31 March resources expended 2024 General funds 160.223 191,036 {167,5431 183,716 18 Explanatory notes to funds Unrestrfctsd funds This fund is expendable at the dlscretion of th8 trustees. Rothctod Funds East Belfast Netsvork Cèntr8 Managed by East Belfast Communty Development Agency on behalf of Templemor8 Avenue School Trust providing office space for organisatlons. A180 roorn hire to communityfvoluntary and Statutory organisations. 19 Anatysls of nel a$$ets between funds Unrostrictad Rostricted funds funds 2025 2025 Totsl 2025 Total 2024 Fund balances at 31 March 2025 are represent8d by. Intangible fixed assets Tangible assets Current assetsllliabllltl8s) 2.031 43.560 158.937 2,031 2,594,469 2,662.630 158,937 142.047 2,550.909 204,528 2,550.909 2,755,437 2,804.677 20 Flnanclal eommltments, guaranteos and contlngent Ilabllltlos A portion of grants received may b8come repayable if The Trust fails to comply with the temis of the letter of -20-
TEMPLEMORE AVENUE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Operaling lease commltments Lessor At th8 r8POrting end date the charity had contracted wlth tenants for the following minimum lease payments,. 2025 2024 Within one year Beeen two and five years 159,800 159.800 31,680 8,800 319.600 40,480 22 Related party transactions During the year The Trust charged East Belfasl Communlty Development Agency CEBCDA,). the ultimate parent company. £51,681 (2024 £43.983) for rental of office space and room hire within the East Belfast Network Centr8. The amount charged was based on the occupied floor area and was at a rate similar to that Charged to other charitab18 organisations. During the year The Trust was tharged £18.000 {2024 - £18,000) by EBCDA for admlnlstration support seNices. At 31 March 2025 there was an amounl of £211 (2024 - £240> due from EBCDA. 23 Uftlmatè Parent Undortaking and Controlling Party East Belfast Community Developmènt Agency. a charitable company incorporated In Northem Ireland under number N1031089, is ¢onsid6red to be the companys ultimate parent cornpany. EBCDA is also reglstered with the Charity Comrnission for Northern Ireland under referenc8 nurnber NIC105793. The pnCIpal activity of EBCDA is the charitable operation of various projects to benefil th8 W81far8 of Ihe inhabitant5 of East Belfasl. The financial statements of The Trust are consolidated wlthln the 9roup financial statements of EBCDA. ¢oplès of which are available from 55 TempleM0 Avenue. Belfast. BT5 4FG. 21