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 McMU￿aY Mrs J Pol￿* (Re5wr￿ 28 Fobnjrary 20241 {Rew)ed 20 Awll 2024) ¢I￿rIty number N161&151 178-180 ShJr*ill 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 i￿￿￿e 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 I￿lanC•S at 31 Dec•m￿r 2024 (9.920) ￿.766 294.846 27.917 127.457 1S5.374 StBtement of ffi8ncial actswues al gains a￿105505 rncowdsad in the ￿ar. Al int)Th and expeThYtture derfvg from ￿)n￿rnIng 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 Deb1￿9 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 fr￿n the rA#dlt rewlrthTthtt o)nlaln¢d kn socllon 477 of th• Cornpanlés Ad 2CK6. lor the year ond•J 31 DeA*mber 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 rncndTrtions 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*)di￿re is dassified undgr the following actsty headirvJs'. . ExFen(ntur• on th8rttsbk• ac17￿ Ind￿ the c(*ts of •JMtles Und￿￿on to furtI￿r Ihe purp058s ofthe tharity and thwr associat8tl $l￿Port u)sts IfrecOvera￿e VAT 15 tharged as a cost against the acbwty for ihe eXpend￿re was incurred. 1.6 T¥ngible fixed ass•ts Tangib￿ 855e15 inili4lly ￿￿1 5ub5Ewenlly WnEa5ufEd ai ￿$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 fol￿1￿9 bases.. Freehdd land and buathngs Plant and equip￿nt 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 r￿wS ￿ 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 fr￿Sts. thg recoverablo amount of the asset is eslim*d 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, der￿lts held at tall with banks. 0th8f shortstem Ilquk investrnents with ongIn￿ matuiitss of three morths (r less. and bank overdrafts. Bank overdraft5 sh(Y￿n 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 Instrurr*nts Issues. cl FRS 102 to al of its finanaal instruments. FinanrAal instNments are reC￿niSed in the charws batance str*et ¥&fien Ihe charity bec4]m￿ p8ty to the cOntrac￿al prows*)n$ of Ihe instrLTme Finani>al ¥55ets aThl liabthties are oltseL wrih the amounts wBs8nted finanaat statements. when there Is a leg￿ty 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 simultan￿usIy. B￿C fin•nclal as$8ts Bas￿ financial assets. wknich i¥Jude debt￿5 and Cash bank balances. are Initiolly measured at transaction price induding transaction costs and are gALbsequentsy earrled al am(*dsed cost ￿￿ng the effective inlernsl methc41 unless tho arrangement conslltutes a financirvJ transaction. whera the traTWCtion Is mea5ufBd at the pr8s8trt value of the futu￿ weceipts discounityl * a rna￿et rnte of intere5L Financial assets claSSrf￿ as receivaLle wthin one yaar are not ￿OrtIsed. BasK Ilnan¢i•l Ilabllid•s Basic financial liatx'litie5. induding credi10￿ and bank k￿n5 are rEttgnised at transadh)n price unless the arrangement COll5thutes a financing transaction. where ts debt instrument is measured at the prosent vabJ8 of the fijtura payments discounted at a market rale of intrt FlnarKia fiabiltdes dasSif￿ as payable withbn one year are not amorbsed. Debt instrUrr￿S art swuenty ￿ed at cos( usry the effecttve interest rab Meth￿1. Tra(le credit￿3 are okligations to pay fu goods or seN￿S that have been acquired in Ihe Ordin￿ COu￿e of operations frcffl SUPF4ier5. Amounts Payab￿ are da55ified as C￿￿ent liabir￿eS il paymeirt B due withwi one year or ths. tf not, they are prBSellted llDrKAJrwt Ik4blities. Trade ryeditor5 awE recogni8ed initialty at 12- ACTION FOR COMMUNITY TRANSFORMATION INITIATIVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR fHE YEAR ENDED 31 DECEAIBER 2024 Ac¢oundng ￿￿cle* (Contlnu•d) Dwwnition olfinwKMI liabilitie¥ Finanual liabiliks are dwecognisad ¥•then lh8 than￿$ 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 OK￿￿8e T*+wi ts dwrity is darr*)nslrabty o)mmitted to temiinate the am￿0￿￿￿ent of an enpbyee or bj pl￿#7de terminaknn benefd6. 1.11 R¢tlr•m•nt b•n•llts PayThnts trj dofined ryxthbution reInM￿ be￿ffl 8¢h￿￿8 a5 an expenso as they fall (kne. In Ihe *P￿ication oftr* ¢hwitys xc0un￿ng polk28s. the trustees are ￿qUIred to mgk8 judgemerrts. estimates and assumptions aèijut the arno￿t of assets oftd liabjlrties that arE Mt readi￿ apparent from other 80urces. The estirnales and assc¥*d assumpb'ons are bas&J on historThl eX￿len￿ 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 c￿Y that . or in the peric#J of the r￿Slon and fvbjre periods where the rev￿lon 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 rela￿j 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 Q￿arrIaL4e 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 man￿ern￿t 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 1￿mIS ￿ 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 se￿rity 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(202￿lL). 10 TaX￿0Th arfty is exempt from tax8tlon th) tts %lMties because al its I￿The is appW for charltabie purposes. 11 Tangible ffx•d assets Fwhald Pl*ntand Totsl Al l January 2tr24 13.528 2.203 13.528 212.203 210.¢JXI At 31 D8￿mber 2024 210.(MJ) 15.rd1 22S.731 D•FTrcL*lon 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 D￿mber2024 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 qual1fr￿ry 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 trn￿t to SP8ofiG C￿[dI0￿S 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 ($041 1.900 Intern*ional Fund for Ir* Social Enterprise 8e]fas1 City ￿nI Big Lo N￿ghbOU￿O0d Reg81￿ra￿ Fund ConThJnty Fwnd8lJon TEO ANBC Qoar grants MUOC 1.700 10.315 <27.128) (9.683) 1147,2271 127.345) 155.391 33.167 (904) 10.000 (8.100) 127.457 5,838 (T68.52n 304.766 16- ACTION FOR COMMUNITY TRANSFORMATION INITIATIVE NOTES TO THE FIW4CIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 15 Restrlcted lund* IContinu•d) Prnvious y•ar At 1 Jlnuary In¢omlng Resources At31 Tr￿urce¥ 1x￿nd•￿ D•oemb•r 2023 Joseph Ro¥mtr8é Charttable Tn4%t Interrhqtional Fund for IrelaThl Sooal Enterwtse Belfast City Cwnc4l sci UL8ler &x)ttsAge Communty Foundati TEO ANBC clear￿an15 2,79S n.741 409.4n 49.907 (53.3771 (391.895) 117.5851 (3,6581 rJ,160 85,438 31322 3.342 1.700 1.7 (533) (4,225) (91.365) (13.372) (1,258) 14.540 52.811 11584 10.315 {27.12BI (7881 {￿1 11,426 82.436 622.289 IS77268) 127.457 16 Unr•¥trl¢tod fvnd• The unrnstrtctsd fvTrJ$ ofthe charity compdse the ur*xpended trk*ances 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 ￿re￿In￿d funds by the bu9tsè8 for ¥)eL?fK pwp0888. At 1 Janu￿ Ineomln9 Rasourco* At31 2024 rnsourc•8 •xp•nd•d D•c•mb•r G￿￿￿1 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 An*sls ol n•t as*•ts b•iw••n fvnds Total funds 2024 lunds 2024 2024 At 31 Dec￿nber 2024: Tangibl8 assets CL*rent 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: Tangl￿e assets Current assetslovabilitsas) 5.387 21530 5.831 149.543 127,013 27.917 127,457 155.374 Thara We￿ no dlsdosable relatsd party trar*adiorts during the yEar (2023. nonel 2023 us for the ye 139,472 48.170 Adjustments lor. (25) 1.807 Depreciatkjn aThl of I￿•ble f￿ed 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)