conv v•W•tlon nurnbw N1613051 ACTION FOR COMMUNrrY TRANSFORMATION INITIATIVE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
ACTION FOR COMMUNITY TRANSFORMATION INITIATIVE LEGALAND ADPAINISTRATIVE INFORMATION Mr W Hutrhywi Rev Dr G Masc Mr T Horyis( Mr R McMUaY Mrs J Pol (Re5wr 28 Fobnjrary 20241 {Rew)ed 20 Awll 2024) ¢IrIty number N161&151 178-180 ShJrill Rcwj BT13 28H Audltor 1- 3 Afthur Street BT14GA B•nker4 POBOX 183 r)¢agaI SoJar8 W•st 8T1 &IS JW ML*linth & S4)n 19 J¢ryrTKXKrt Co. kntrim BT38 7DN
ACTION FOR COMMUNITY TRANSFORMATION INITIATIVE STATEMENT OF FINANCIAL ACTNMES INCLUDING INCOME AND EXPENDrruREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 To¢•l nds 2024 funds funts 2023 2024 2024 2023 ChadtabFe athilles 27.337 945,836 m,173 40,543 622.289 662,832 25 Totsl ie 27.337 945.836 973,173 40.568 PJ22289 662.857 Exp•ndllyrn on: Ch8ritabl8 8CtlvlUe3 65.174 768,527 .7Q1 37.419 577,268 614,687 Total expenrfiturn 65.174 768.527 833,701 37.419 577268 614,687 Net Incomellexpendliurn) •KI movamont In funds (37.837) 177.309 139.472 3.149 45.021 48,170 R•concfflatlon of tsnds: Fund balarK8s at 1 January 2024 27.917 127A57 155,374 24.768 82.436 107,204 Fund IlanC•S at 31 Dec•mr 2024 (9.920) .766 294.846 27.917 127.457 1S5.374 StBtement of ffi8ncial actswues al gains a105505 rncowdsad in the ar. Al int)Th and expeThYtture derfvg from )nrnIng actNbligs.
ACTION FOR COMMUNITY TRANSFORMATION INITIATIVE BALANCE SHEEr AS Af 310E¢EM8ER 2024 2024 2023 Flx•d ••••ts Tangible ass8ts 11 215,607 5,831 Curr•nt •8••ts Deb19 C8$h at bank and In hand 12 4.211 92,073 156.393 96,284 158,193 Cr•dltorn: amounts lalllnq du• Thllhln on• y••r 13 {17.0451 (8.6XJ) N•t ¢wr•nt •s••ts 79.239 149.543 Total a•Mt¥ l•M cury•nt Ilabllltl 294.848 1S5.374 Th• fund• of th• charlty Restslcted In¢omo IlJndB Unrn8¢ri¢1gd fwKIs 15 18 304,76e {9,920) 127.457 27.917 155,374 Tt c4mpany is enlld•d to frn the rA#dlt rewlrthTthtt o)nlaln¢d kn socllon 477 of th• Cornpanlés Ad 2CK6. lor the year ond•J 31 DeAmber 2024 allhough An audR be carTled out under soc1b 65 of m• Charfti•s Acl (Northorn Irelano) 2008. No m•fflbw of th• c•ny has 8 notlce. Purs#Tht lo 8oGli¢)n 478. requlrfrb9 an •udii of tjwsa accounts under the r•quirnmonts dtho Comwl8• Act 2006. r•spo(a ts> accounilng rnc<xds and t•0 weparakn of flnandal 818tem Mr W Hulchinlcn Cornpary rngi8traion Nie13051 (N¢xllwn lrnlaid)
ACTION FOR COMMUNITY TRANSFORMATION INITIATIVE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEAIBER 2024 (52.117) (2.2791 Pur¢*ase of taigible fixwj assets (12.203) (6,3761 25 {122031 {6.351) N•1 Gash qeneraled from fln•nGlng athltlos Pl•t do¢vease in c•¥h and cash oqulval•nl• (64,320) {8.6301 Cash aThl equivalents at beglnnlrKJ crf ye 156,393 165.023 Cash and cuh oqulvalwts at •nd of y•ar 92.on 1 $6.393 io-
ACTION FOR COMMUNITY TRANSFORMATION INMATIVE NOTES TO THE FINANCIAL STATEAIENTS FOR THE YEAR ENDED 31 OECEM8ER 2024 Accountiry pollci•s Charlty inforniation Action for Ccmmunity TransfomwtK)n Iniliabve is a pryvate comparry by guarantee incorporaled in Northem Ireland. T registered olTKe is 17&180 Shanknll Road. Bdfasl, Co. Antiim, BT13 2BH, United ngjcrfn. 1.1 Accounting conventlan Thè finanoal ststements have been preparj in acccrftsn with the th"ty'S govaming do(mOn[ tha Companies Act 2LNJ6 and "AcoMling and Reporting by Charilies". Ststemert of Recommerthd Prnctice apthioble to chanlie5 preparing Iheir accounts accordance the Financial RepJting Stsndard ap1¢xbIe the UK and RepU1C of Ireland IFRS 1021 leffed1 1 January 2019r. The thartty Is a Publlc Benefit Enfjty as defined by FRS 101 The financial stsiements are in sterfing. vthich i% the ojrrency of tho Monetary arnounts in these financial ststemenls are rryJndeJ lo the nearest L The finan statements have been prep¥l under th8 histotsl o)st cmenn. The principal acc(yJnting iciès 8doptsd are set tyJi below. 12 Going concern At the time of approving the tsThial stsiem•nts. Ihe Inth8s have a r8asonablo expoctation that the charity has •184uate resourrp5 to continu8 op8rational oxisienL% for tho for85eoable fubJr8. Thus Ihe trtstees o)ntinue to ad¢Jpt the golng concem ba515 of a0¥ting in wepary the finanaal stemonts. 1.3 Charltable fiJnd$ Unrestrthd funds are avalalrfe fLY use at the di93elion of the trustees in furlherance of their charItse RestrKtsd fvnds are subleLt to specific COTKlrlions by dL¥K)rn or as to htsw Itw may be used. The purwses and uses ol the restricted Set in the notss tothe financb91 slèmants. 1.4 1Tr¢0fi Inco is recyJgnis&J en the charity is legally enlilled to it after any pwfornw conditions have been me( the amounls can be measured rEiial. and it 15 protsae that in(xxne wiu be r1Ved. Cash donations are r8cogni88d on raceipL Other thnations ¥e rerngnisfjd once the dprity has boen notified of the dDnat. urless pthnan u>ndTrtions require deferr31 of the amount Income tax recoverable in rdatKYt to donations received undw GiftAid deeds of covenant 15 re(>)gnised at the time of the donation. 1.5 Exp•ndltsJr• Expènditure is recognised there is a iegal or constwclive Obligati to make o payment to a third party. is prDbable that setuement will be wuired arwj the awKiunt the ot4ytion cw be meawd relably. EXr)dire is dassified undgr the following actsty headirvJs'. . ExFen(ntur• on th8rttsbk• ac17 Ind the c(*ts of •JMtles Undon to furtIr Ihe purp058s ofthe tharity and thwr associat8tl $lPort u)sts IfrecOverae VAT 15 tharged as a cost against the acbwty for ihe eXpendre was incurred. 1.6 T¥ngible fixed ass•ts Tangib 855e15 inili4lly 1 5ub5Ewenlly WnEa5ufEd ai $t or vahJaUDn. net ot depreaation and any imwrment kwes. 11
ACTION FOR COMMUNITY TrANSFORMATION INITIATIVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ae¢ountln9 pallcl (Contlnuedl Dweciation is recognised so as to lte off the cost ry vauabon assets le35 they reshyual values ovgr Iheir I lives on the fol19 bases.. Freehdd land and buathngs Plant and equipnt 2% Siraight Line 25% Sts'ght Line The gain or loss afisiry on the di5rosaJ of an asset is detemimJ as the difference behNeen the sale and ¢anwng ¥4u8 ofthe assét. and is in the siatement of financial acthties. 1.7 lrnpairment offixed assets At each reporting date, the tharity rwS carrwr¥J amourts of lis tangible assets kn determine whether there is any indiralion that those assets have sufferfjd an impairment Ios5. If ary wch indration frSts. thg recoverablo amount of the asset is eslimd in ord8r to d8t8rn1in8 th8 oxtent of tre impairment ioss lif anyl 1.8 Cash and Cash equi¥al8fits Cash and cash equivalents indude cash in hand, derlts held at tall with banks. 0th8f shortstem Ilquk investrnents with ongIn matuiitss of three morths (r less. and bank overdrafts. Bank overdraft5 sh(Yn wll¥n b(wr(Mings in CLwrent liabikts. 1.9 Finanelal Instrum•nts The charity has d8ct8d to apply the provi5h) of Wion 11 Basic Financyal In8tsimTrnts' arNJ Sedon 12 'OtheT Finanaal Instrurrnts Issues. cl FRS 102 to al of its finanaal instruments. FinanrAal instNments are reCniSed in the charws batance stret ¥&fien Ihe charity bec4]m p8ty to the cOntracal prows)n$ of Ihe instrLTme Finani>al ¥55ets aThl liabthties are oltseL wrih the amounts wBs8nted finanaat statements. when there Is a legty enfDrcwble Tight ID Set off the recognksed anM)unts and the is an intention io setlla on a net baw or to realkse th2 ar setue the Imblity simultanusIy. BC fin•nclal as$8ts Bas financial assets. wknich i¥Jude debt5 and Cash bank balances. are Initiolly measured at transaction price induding transaction costs and are gALbsequentsy earrled al am(*dsed cost ng the effective inlernsl methc41 unless tho arrangement conslltutes a financirvJ transaction. whera the traTWCtion Is mea5ufBd at the pr8s8trt value of the futu weceipts discounityl * a rnaet rnte of intere5L Financial assets claSSrf as receivaLle wthin one yaar are not OrtIsed. BasK Ilnan¢i•l Ilabllid•s Basic financial liatx'litie5. induding credi10 and bank kn5 are rEttgnised at transadh)n price unless the arrangement COll5thutes a financing transaction. where ts debt instrument is measured at the prosent vabJ8 of the fijtura payments discounted at a market rale of intrt FlnarKia fiabiltdes dasSif as payable withbn one year are not amorbsed. Debt instrUrrS art swuenty ed at cos( usry the effecttve interest rab Meth1. Tra(le credit3 are okligations to pay fu goods or seNS that have been acquired in Ihe Ordin COue of operations frcffl SUPF4ier5. Amounts Payab are da55ified as Cent liabireS il paymeirt B due withwi one year or ths. tf not, they are prBSellted llDrKAJrwt Ik4blities. Trade ryeditor5 awE recogni8ed initialty at 12-
ACTION FOR COMMUNITY TRANSFORMATION INITIATIVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR fHE YEAR ENDED 31 DECEAIBER 2024 Ac¢oundng cle (Contlnu•d) Dwwnition olfinwKMI liabilitie¥ Finanual liabiliks are dwecognisad ¥•then lh8 than$ contractya obligatior6 expre or are di5rtharged or caneeV8d. 1.10 Employ•e benefits Th8 eost of any unwj Iwjiday enliuement 15 r8(y)gr48th1 wh)d in which Ihe omploy80's seMc8s are TermThtion b8n8fils ar8 r6wnis8d irNnedi8tely as an OK8e T+wi ts dwrity is darr)nslrabty o)mmitted to temiinate the am0ent of an enpbyee or bj pl#7de terminaknn benefd6. 1.11 R¢tlr•m•nt b•n•llts PayThnts trj dofined ryxthbution reInM beffl 8¢h8 a5 an expenso as they fall (kne. In Ihe Pication oftr ¢hwitys xc0unng polk28s. the trustees are qUIred to mgk8 judgemerrts. estimates and assumptions aèijut the arnot of assets oftd liabjlrties that arE Mt readi apparent from other 80urces. The estirnales and assc¥d assumpb'ons are bas&J on historThl eXlen arKI olh8r factors that are GonSKIer lo b8 rElevanL Actual resutts may diiferfrorn these estimates. The est5mates undetyiry assumpttons are on (ryolrwJ basi& Revi5ion5 tD tKry)unting 8stimat•s are rectsjnlsed In the ped(hJ In whith the 8Stimate 15 revtsed vthefe the rovlsh)n affécts cY that . or in the peric#J of the rSlon and fvbjre periods where the revlon affects both wrgnt aTrJ thJthre 13-
ACTION FOR COMMUNrrY TRANSFORMATION INITIATIVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Tatal 2023 10226 10226 Perfomwnc¥J relaj grarrts Other inc(¥ne 622289 622,289 17.111 17.111 27237 945.836 973.1TJ 40.543 622289 682.832 Analysis by fuTrJ 27.337 27,337 40.543 945.836 945,836 40.543 622.289 622.289 27.337 945.836 973.1n 40.543 622289 662,832 QarrIaL4e TnJst Intsmalional Furnl fr Ird8nd Sood Entwprise TEO sci ANBC Neighbyjrhood Regeneratiry) Fund CIT Community i) Tran*tions Big Lottwy 54,445 M.445 n.741 73,741 476.1&3 15.IXXI 476.133 15,¢)J) 409.473 49.907 52.811 409.473 49.907 51811 1,700 12.584 .167 33.167 12.584 155.391 155.391 1.71h) 7,000 15.073 7.000 15.073 10.(XX) 10.IMKJ 622,289 622289 unrnStrlct Unrnstri¢tsd lund8 fund5 2023 25 -14-
ACTION FOR COMMUNrrY TRANSFORMATION INITIATIVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrict•d Restrfctsd Exp•nditure Expenditur• 2024 Total 2023 22.213 4C6.750 349.107 427,S 349.107 392,422 146.490 4.136 6.621 89 Prtgrafflme Cosls ght & General Bank Feos Trainiry Tra¥ 34.249 1.519 108 513 75 Printing. Pastiry & Stattcmary 75 420 Subxai>tions 48.915 763.527 812.442 583.322 Shar8 of suppyt (aists (see noto 6) Share irf wvemance costs {$eg ¢v)te 6) 14.259 14.259 22,715 65.174 768,527 833.701 614.687 Analys55 ty fund 65.174 65.174 768,527 37.419 577268 768.527 65.174 768.527 833.701 614.667 For tho y•ar •nd•d 31 D•eembor2023 UnrB5triL*ed funds 37.419 37.419 5TT.268 $77,268 37.419 614,687 15-
ACTION FOR COMMUNITYTrANSFORMATION INMATIVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAI8ER 2024 Total Depreciation Rent & Rates Tgleptthe Insurance manernt fee 2,427 1.807 16.974 817 1.250 8.650 7.¢XIO 20,149 31.365 2024 2023 Auditfe8s Legal prde55iry 7.000 250 1.400 8,650 2023 The net rnOve in 1mIS slated after clwryivul(uedlllry): payable the 8udt ofthe • financ481 slatanents DeryBdation of langibl8 frxed assets 7,000 2.427 7.0 1,807 TnAt••G tharity during the year (202Wm). EmployM• 2024 Numb Numljer 12 16-
ACTION FOR COMMUNITY TRANSFORMAnoN INITIATIVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Enyloy••B (Contlnued) 2024 Ww and Salaries Social serity costs 386.652 35,668 5.643 276.135 101.209 15.078 427,963 392.422 No empbyee received ranunerali(Jn ofmm than .1) dwirwJ the Year(202lL). 10 TaX0Th arfty is exempt from tax8tlon th) tts %lMties because al its IThe is appW for charltabie purposes. 11 Tangible ffx•d assets Fwhald Plntand Totsl Al l January 2tr24 13.528 2.203 13.528 212.203 210.¢JXI At 31 D8mber 2024 210.(MJ) 15.rd1 22S.731 D•FTrcLlon and iryaiment At 1 January 2024 OeKYeoatson charged in Ihe year 7,697 2.427 T.697 1427 At 31 December 2024 10,124 10.124 rArrylng amount At 31 Dmber2024 210,000 5.607 215.607 At 31 D8Gember2023 5,831 5,831 12 D•btora 2023 Arn faifmo T*lthln on• yoar. Trnde debtors Other debtors 41YJ 1.400 1.6r 4.211 1,800 17-
ACTION FOR COMMUNITY TRANSFORMATION INITIATIVE NOTES TO THE FINANCIAL STATEMENTS (coKnNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Cf•dilorn: affl(wnts falllng du• wlthln on• y•ar 2024 Trade crndltOfS 1,395 15.650 17.045 2023 Charge to WDfit orloss in r•4Ject ofdefined tsJrrtrlbuti sth•me8 15,078 The thanty operat8s a defined ¢110n p9n5m sthome all qual1frry gmthoas. Th8 assets of the a hdd waratdyfrom Itw ofthe dwity in Wmlependenty admnistexed fvnd. 15 R•strl¢tsd fvnds The reBtri¢tsd fiJThJs of thg chaiity th8 uneyyded bal)ces of (xths arMI grants hebj on trnt to SP8ofiG C[dI0S by dcmr5 as to thry may be used. At 1 January hKornlng Resources At31 2024 rJ,160 85.438 32,322 3.342 1,700 54,4U5 476.133 15,000 (62.325) (513.84n 15.280 47,724 47.322 3.342 1.700 1.700 200.1)00 632 (18.9641 5.034 ($041 1.900 Internional Fund for Ir Social Enterprise 8e]fas1 City nI Big Lo NghbOUO0d Reg81ra Fund ConThJnty Fwnd8lJon TEO ANBC Qoar grants MUOC 1.700 10.315 <27.128) (9.683) 1147,2271 127.345) 155.391 33.167 (904) 10.000 (8.100) 127.457 5,838 (T68.52n 304.766 16-
ACTION FOR COMMUNITY TRANSFORMATION INITIATIVE NOTES TO THE FIW4CIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 15 Restrlcted lund IContinu•d) Prnvious y•ar At 1 Jlnuary In¢omlng Resources At31 Trurce¥ 1xnd• D•oemb•r 2023 Joseph Ro¥mtr8é Charttable Tn4%t Interrhqtional Fund for IrelaThl Sooal Enterwtse Belfast City Cwnc4l sci UL8ler &x)ttsAge Communty Foundati TEO ANBC clearan15 2,79S n.741 409.4n 49.907 (53.3771 (391.895) 117.5851 (3,6581 rJ,160 85,438 31322 3.342 1.700 1.7 (533) (4,225) (91.365) (13.372) (1,258) 14.540 52.811 11584 10.315 {27.12BI (7881 {1 11,426 82.436 622.289 IS77268) 127.457 16 Unr•¥trl¢tod fvnd• The unrnstrtctsd fvTrJ$ ofthe charity compdse the urxpended trkances oftsffiatlcms and grants whkh are not subject to SFeafic coThJlbon8 by granto as to how they may be used. Thw indud8 desvJnatgd funds ththKh have ba8n set aslde tyJt of reInd funds by the bu9tsè8 for ¥)eL?fK pwp0888. At 1 Janu Ineomln9 Rasourco At31 2024 rnsourc•8 •xp•nd•d D•c•mb•r G1 fvnds 27,917 27,337 (65.174) {9.920) Flmiou8 y•ar: At 1 January InGomlng R•souru8 At31 2023 resources expended Deeemljer 2023 24.768 40.568 (37.419) 27.917 19-
ACTION FOR COMMUNITY TRANSFORMATION INITIATIVE NOTES TO THE FINANCIAL STATEMEpifs (CONTINUEO) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Ansls ol n•t as•ts b•iw••n fvnds Total funds 2024 lunds 2024 2024 At 31 Decnber 2024: Tangibl8 assets CLrent assetyoiablibesl 15,607 {25.527) 2D3,0fy) 104,766 215,607 79.239 (9.920) 304.766 294.846 Total fund¥ 2023 2023 2023 At 31 December 2V23: Tangle assets Current assetslovabilitsas) 5.387 21530 5.831 149.543 127,013 27.917 127,457 155.374 Thara We no dlsdosable relatsd party traradiorts during the yEar (2023. nonel 2023 us for the ye 139,472 48.170 Adjustments lor. (25) 1.807 Depreciatkjn aThl of I•ble fed assets Non rash pital addrfions 2.427 {200.0) IAovemwrt¥ In wothlng •1: (2.4111 8,395 IrKTea50 in cr*Jil(Y8 (Decrnasel in deferred 3,535 (57.561) 152.117) (2.279)