Ballymena North Partnership Ltd Statemcnt of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Ilccognised Gains and Losse5) Unrestrlcted funds Restricted fund5 Total 2024 Note Income and Endowments from: Charitable activitie5 210,400 210,400 Total income 210,400 210,400 Expenditure on: Charitable activities (249,376 (249,376) Total expenditure 249,376 249.376 Nel expenditure Transfers between funds (38,976) 34,823 (38,976) 34,823 Net movement in funds (4,153) (34,823) (38,976) Reconciliation of funds Total ndS brought forward 234,152 1.153,238 1,387,390 Total fiinds carried forward 13 229,999 Unrcstricted funds 1,118,415 Rtstrictcd funds 1,348,414 Total 2023 Note Ineome and Endowments from: Charitable activities 214,602 214,602 Total income 214,602 214,602 Expenditure on: Charitable activities 195,716 (195,716) Total expenditure 195,716 195,716) Net income Transfers between funds 18,886 34,841 18,886 34,841) Net movement in fvnds 53,727 (34,841) 18,886 Reconeiliation of funds Total funds brought forward 180,425 1,188,079 1,368,504 Total funds carricd forward 13 234.152 1,153,238 1,387,390 All of the charity's activities derive from Continuing operations during the above two periods. The funds breakdown for 2024 and 2023 are shown in note 13. The notes on pages 8 to 16 form an integral part of these finanrial statements. Page 6
Ballymena North Partnership Ltd (Registration number: N1049869) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed asscts Tangible assets 1,143,803 1,180,125 Current asscts Debtors Cash at bank and in hand io 17,157 217,916 235.073 10,939 236,840 247,779 Creditors: Amounts falling due within one year 12 (30,462) (40.514 Net current asscts 204.611 207,265 Net asset5 1,348,414 1,387,390 Fund5 of the eharlty: Restricted income fuiids Rcstrictcd funds 13 1,118,415 1,153,238 Unrcstricted Income funds Uni'eslricled lunds 229,999 234,152 Total funds 13 1,348,414 1,387,390 For the financial year ending 31 March 2024 the charily was entitled to exemption from audit under section 477 of the Coinpanies Act 2006 I'elating to small companies. Directors, responsibilities.. The member5 have not required the charity to obtain an audit of its accounts for the year in question in accoi'dance with 5CCtion 476. and The directors acknowledge their responsibilities for coinplying with the requirements of the Act with respect to accounting record5 and the preparation of accounts. The financial statements on pages 6 to 16 were approved by the trustees, and authorised for issue on 24 Septembei. 2024 and signed on their behalf by: Mr Maurice Mills - Chaimian Trustee Robert Jamc ccahon Company Secretary and Trustce The notes on pages 8 to 16 forni an integral part of these financial statements. Page 7
Ballymena North Partnership Ltd Notes to the Financial Statements for thc Year Ended 31 March 2024 I Charity status The charity is limited by guai'antee, Incoorated in Northern Ireland, and consequently docs not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 toward5 the assets of the charity in the event of liquidation. The address of its registered office is: 120 Cushendall Road Ballymena BT43 6HB These financial statements were authorised for issu¢ by the trustees on 24 September 2024. 2 Accounting polieies Summary of significant accounting policies and key accouliting estimates The principal accounting policies applied in the preparation of these financial statements are Set out below. These policies have been consistently applied to all the year5 presented, unless otherwisc stated. Statement of compliance The financial slatemcnts have been prepared in accoi-dancc with Accounting and Ilcporting by Chai-itlCS'. Statement of Recommcndcd Pi'actice applicable to charitics preparing thcir accounts in accordance wilh the Financial Reporliiig Standai'd applicable in the UK and Republic of Ireland (FIIS 102) {effcclivc l Januai'y 2015) (Charitie5 SORF (fRS 102)), thc Financial Rcporting Siandai'd applicable in the UK and Rcpiibli¢ of Ireland (FRS 102). They also coinply with the Coinpanies Act 2006 and Charities Act (Northern Trcland) 2008. BASIS of preparation Balljonena North Partncr5hip Lid meets the definition of a public benefit entity undei. FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The presentation currency of these financial statements is sterling. All amounts in the financial slatcmcnts have been rounded to thc nearest £ l. Going coneern The financial statements have bccn prepared on a going concern basis a5 the trustees consider there are no material unccitainities about the charity's ability to continue as a going concern nor any significant ai'eas or un¢¢rtainity that affect thc carrying value of assets hcld by the charity. The trustee5 have asscsscd a pcriod of 12 months fi'om the date of approving the financial 4latements both in relation to the level or riinds IILld and the expected level of income and expenditure with regard to the appropriateness of the going concern assumplioii in preparing the financial statements taking into consideration all relevant factors. The trustees notc that and believe that the company will continue as a going concern and be able to realise its a55ets and discharge its liabilities in the normal course of business. Exemption from preparing a cash flow statement The charity opted to early adopt Bulletin I published on 2 fiebruary 2016 and have iherefore not included a cash flow statement in these financial statements. Page 8
Ballymena North Partnership Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Judgements The prepai'ation of the financial statements requires management to make judgements, estimates and assumption5 that affect th¢ application of accounting policies and the reported amount of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates The estimates and undei'lying assumptions are reviewed on an ongoing basis. Revisions to accounting estimate5 are i'ccognised in the pei'iod in which the estimalc is reviscd wh¢r¢ thc revision affects only that period, or in the period of the revision and future pei'iod5 where the revision affects both current and future periods. Key source5 of estimation uncertainty Tangible fixed assets Tangible fixed assets are depi'eciatcd over their uscful economic lives taking into account residual values, where appi'opi'iate. The actual lives of the assel's and residual valucs arc asscssed annually and may vary depending on a nuillber of factors. In re-assessing asset lives, factoi's siich as mainlenancc pi'ogrammes and technological innovation are takcn into account. Residiial value assessrnenls considei. issues such as fiitui-c market conditions, thc i'cinaining life of the asset and projected disposal values. The carrying amount is £1,143,803 (2023 -£1,180,126). Income and cndowments All incomc is i'ccogniscd once the charity has entitlement to the incoine, it is probable that the income will be i'ec¢ivcd and the aniount of the income receivable can be Ineasured reliably. Expcnditurc All expenditiire is rccognised once there is a legal or constructive obligation to that expenditw'e, it is probable sciilcmcnt is i'equired and thc ainount can be measui'ed reliably. All costs are allocated to the applicable cxpcndilurc hcading ihat aggi'egate siinilar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistcnt with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Othcr siippoi't costs al'e allocatcd based on the spread of staff costs. Cliarlliible rtcllvllies Charitable expenditure comprises those costs incurred by the chai'ity in the delivery of its activities and services for its bencficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary lo support th¢m. Taxation The Lharity is considcrcd to pass the tests set out in Paragraph I Schcdule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposcs. Accordingly, the charily is potentially cxempt from taxation in respect of income or capital gains received within categories covercd by Chapter 3 Part I l of ihe Corporation Tax Act 201 O or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such incoine or gains are applied exclusively to charitable purposes. Dcprcciation and amortisation Dcpreciation is provided on tangible fixed a55ets so as to write off the cost or valuation, less any estimated residual value, ovei. theii. expected useful economic life as follows.. Asset class Land & Building5 Depreciation method and rate 2D/o Straight Line Page 9
Ballymena North Partncrship Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Furniture & Equipment Plant & Machiney 25 % Reducing Balance 25 % Reducing Balance Impairment of fixed assets The company assesses at each reporting date whether tangible fixed assets are impaired Trade debtors Trade debtors are amounts due from customers for amounts invoiced in respect of unit or room hire renta15 or services performed in the ordinary course of business. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Account5 payable are classified as currcnt liabilities if the chai'ity does not have an unconditional l'ight, at the end of the reporting period, to defei. settlernent of the creditor foi. at least twelve months after the i'eporling date. If thcre 15 an unconditional right to defei. settlement for ai least twelve months after the reporting date, they arc presented as non-current liabilities. Fund structure Unrestricted incoine funds are genei-al funds that are available for use at the trustees discretion in furtherance of the objectives of thc chai'ily. Restricted income funds are those donated for use in a particular area or for specific purposes. the use of which is restricted to that area or purpose. 3 Income from charitablc activitles Unrestrieted rund5 Gcncral Total 2024 Unit Rental Rental of Meeting Rooms Office hire Cafe hire Refreshments Service Level Agreement - Ballymena Council Vending Machine Commission Staff cost charge Bank interest receivable 67.150 41,872 29,318 3.842 2,570 56.615 79 7,323 1,631 67,150 41.872 29,318 3,842 2,570 56,615 79 7,323 1,631 210,400 210,400 Page 10
Ballymena North Partnership Ltd Notes to the Financial Statemcnts for thc Year Ended 31 March 2024 Unrestricted funds General Total 2023 Unit Rental Renlal of Meeting Rooins OffiLL hirc CafL hirL Refr¢shmLnls Events at Sports I-Iall Service Level Agrccment - Ballymena Council Vending Machine Commission Staff cost charge Bank intei'est receivable 67,258 38,232 27.638 1.464 3.508 625 72,023 709 2,897 248 67,258 38,232 27,638 1.464 3.508 625 72,023 709 2,897 248 214,602 214,602 Page 11
Ballymena North Partnership Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 4 Expenditure on charitable activitics Unrestricted funds General Total funds Staff costs Car Park Hire Rates Water rates Light, heat and power Insurance Repairs and maintenance T¢lephone and fax Catering Computer software and maintcnance costs Human Resource Manageinent Printing, postage and stationery Washrooin Hygiene, Cleaning & Waste Collection Sundiy expenses Bad debts written off Accountancy fees Legal and professional fees Bank charges Depreciation of freehold properly Depreciation Plant & Machinery Depreciation of fixtures and fittings (owned) l27,285 167 558 I,846 27,890 18,098 9,242 1.793 465 3,379 1,775 1,522 2,399 1,189 604 2,700 11,100 709 35,328 582 745 127,285 167 558 1,846 27,890 18,098 9,242 1,793 465 3,379 1.775 1,522 2,399 1.189 604 2,700 11,100 709 35,328 582 745 Total for 2024 249,376 249,376 Total for 2023 195,716 195,716 Page 12
Ballymena North Partnership Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 S Net ineomingloutgoing resources Net (outgoing)/incoming resources for the year include.. 2024 2023 Other non-audit services Depreciation of fixed asset5 2,700 36,571 2,750 36,986 6 Trustees remuneration and expenses During the year the charity made the following transactions with trustees: Some Ii-ustecs havc an inlci-cst in ollier charities which may i'esult in a conflict or pcrc¢ivcd conflict of interest in the opci'ation of the chai'ity.Scc Relalcd Pai'ty Note, nole 13 No Iruslee5, nor any pci'50ns conncclcd wilh thcm, have reccivcd any rcmunei'ation fi'oin the charity during ihe year, 7 Staff costs The aggregate pa.011 costs were as follows.. 2024 2023 Staff costs durlng thc year werc: Wages and salaries Social security costs Pension costs 120,027 4,903 2,355 100,221 3,564 2,428 106,213 127,285 The monthly average number of persons (including senior managejnent I leadership team) employed by the charity during the year expresscd as fijll timc equivalents was as follows.. 2024 2023 Administration No employee received emoluments of more than £60,000 during the year. 8 Taxation The charity is a registered charity and is therefore exempt from taxation. Page 13
Ballymena North Partnership Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 9 Tangible fixed assets Land and buildings Furniture and equipment Plant and machinery Total Cost At l April 2023 Additions 1,766.393 30,292 332 4,613 1,801.298 332 At 31 March 2024 1.766.393 30,624 4,613 1,801,630 Depreciation At l April 2023 Charge for the year 591.242 35.328 27,644 745 2,286 582 621,172 36,655 At 31 March 2024 626,570 28,389 2.868 657.827 Net book value At 31 March 2024 1,139,823 2,235 1,745 ,143,803 At 31 March 2023 1,175,151 2,648 2.327 1,180,126 10 Debtors 2024 2023 Trade dcbtors Pi'epayments Other debtors 15,373 1,345 439 5,226 5,274 439 17,157 10,939 11 Cash And cash equivalents 2024 2023 Cash on hand Cash at bank 321 236,519 217.916 217.916 236,840 Page 14
Ballymcna North Partnership Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 12 Creditors: amounts falling duc within one year 2024 2023 Trad¢ creditors Other taxation and social security VAT grant repayable Accruals 5,443 1,213 2,090 20,295 16,916 12.087 12,932 30,462 40,514 13 Funds BAlance at 31 Mareh 2024 Balance at I April 2023 Incoming re50urce5 Resources cxpendcd Transfers Unrcstrictcd funds ieiierftl Gcnci'al l.-uiids 234,152 210,400 (249,376) 34.823 229,999 Restricted fund5 Keep Nl Beautiful Community Concert Property Grant Fund Arts Councsl of Northein li'eland Awards for All flunding Good Relations 166 31 1,153,078 166 31 1,118,255 (34,823) 130 (194) 27 130 (194) 27 Total restricted funds 1,153,238 34.823 1,118.415 Total funds 1,387,390 210,400 249,376 1,348,414 Page 15
Ballymena North Partnership Ltd Notes to the Financial Statements for the Year Endcd 31 March 2024 Balance at 31 March 2023 Balance 8t I April 2022 Incoming resource5 Resources ¢xpended Transfers Unrcstricted funds Generftl General Funds 180,425 214,602 (195,716) 34,841 234,152 Restricted Keep NI Beautiful Community Concert Property Grant Fund Arts Council of Northern Ireland Awards for All Funding Good Relations 166 31 1,187,919 166 31 1.153,078 {34.841) 130 (194) 27 130 (194) 27 Total restricted funds 1,188.079 (34,841) 1,153,238 Total funds 1,368,504 214,602 195,716 1,387,390 14 Related party transactions During the year the charity made the following related party transactions.. North Ballymtna Community Cluster (Common trustees-mr Barry Gordon, Mr P J McAvoy, Mr Liobei't Mccahon) Discount on rent and charitablc donations-£O (2023 £2,880) Noith Ballymena Community Cluster no longer have a unil at Ballymena North Pai'tnership Lid complcx, last rent frec accommodation Dccembcr 2022. Ai the balance shect dale the amount due to/from Nortli Ballyinena CommLinity Clustei- was £Nil (2023 - £Nil). Page 16