REGISTERED COMPANY NUMBER: N1046763 (Northern Ireland) REGISTERED CHARITY NUMBER: NIC 104759 ort of the Trustees and Financial Statements for the Year Ended 31 Ivlarch 2023 for Star Ne Acom hb urh od Centre Limited b Guarantee an Lynn Drake & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moird Co. Arniagh BT67 OLE
tsr Nei hbourhood Centre Contents of the Financial Statements for the Year Ended 31 March 2023 Page Reference and Administrative Details Report of the Trustees Independent Examiner's Report io Statement of Financial Activities Statement of Financial Position 12 to 13 Notes to the Financial Statements 14 to 24 Detailed Statement of Financial Aetivities 25 to 26
Star Nei hbourhood Centre Reference and Administrative Detail for the Year Ended 31 March 2023 TRUSTEES Kate Clarke Liarn Corr Cecilia Heron Liam Wiggins Marisa Mcmahon Gerard O'Reilly Tommy Quigley Sally Smith Joe Doherty COMPANY SECRETARY Kate Clarke REGISTERED OFFICE 79-83 Hillman Street Belf&st Co. Antrim BT15 2FS REGISTERED COMPANY NUMBER N1046763 (Northem Ireland) REGISTERED CHARrrY NUMBER NIC 104759 INDEPENDENT EXAMINER Lynn Drake & Co Ltd Chart¢r¢d Accountants 1st Floor 34 B-D Main Street Moira Co. Annagh BT67 OLE CHIEF EXEC OFFICER Maria Valente BANKERS Allied Irish Bank 11-15 Donegall Square North Belfast BTI 5GB
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006. present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees hav¢ adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). ORJECTIVES AND ACTIVITIES Revieiv of Year 44 Children benefited from the childcare services 52 People participated in Good relations projects l O Volunteers engaged in community development activities 68 Children took part in holiday schemes 20 People took part in programmes to support and develop parents 50 Winter warmer packs delivered to local residents 50 Older people took part in a good relation social event 15 Individual young people received range of OCN qualifications 36 Children & young people took part in mental health promotionlawareness programmes 20 People participated in prograrnmes to promote a healthy lifestyle 48 Young people benefitting from youth inclusionldiversionary projects
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2023 OBJECTIVES AND ACTIvfTtES Objectives and Activities The principal activities of the company are the provision of facilities in the interests of social welfare for recreation and other leisure activities and the provision of education through teaching, instruction. training. seminars, Conferences, and the provision of facilities for education. It is with pleasure I present the Star Neighbourhood Centre trustee report for year ending March 2023 This report contains th¢ organisational key strategic aims and the activities and services delivered during the year to achieve desired outcomes. It highlights an impressive amount of activity and engagement with the local residents. Star Neighbourhood Board are delighted with the organisations performance and focus on positive outcomes to improve the lives of residents. This is central to our organisations activities whether it be improving access to quality childcare, making our communities safer. youth development, building cohesive communities or building capacity- it is all about making life a little better for residents. The Star Neighbourhood Centre continues to work in partnership with conununity groups, organisations and agencies in order to develop skills, strengthening organisational structure and processes, addressing equality issues and promoting engagement and participation. Without doubt we are working in challenging times. Our comrnunities face daily struggles. poverty, mental health, homelessness to name few, are all major issues Our child¢ar¢ and family support services are running at full capacity. The youth project continues to work to rneet the needs of the young people across North Belfast. The personal social and emotional development of young people remains our core work. With Youth intervention and good relations programmes also delivered. This report covers the SNC organisational key strategic aims as well as activities and services delivered up to th¢ ¢nd of March 2023. Star Neighbourhood Board are delighted with the how the staff and volunteers have continued their vital work and provided support and met needs for residents during energy increases and the cost of living crisis. We remain committed to providing quality services and focus on positive outcomes to improve the lives of residents. A special thank you must be extended once again to our members who actively support the star and our work. To our funders, in particular our main funder Department for Communities. The Department of Education Pathway fund, EA, Belfast city council, John Moore & Children in Need, without their support we would not exist. To all the organisations and individuals who have supported the Star Neighbourhood Centre through the good times and the not so good tim¢s w¢ thank you.
tar Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2023 ACHIEVEMENT AND PERFORMANCE Charitable activities The Star Neighbourhood Centre is an organic and generic ¢ommunity organisation, based on the Duncairn Gardens interface in the New Lodge area of North Belfast. We are a quality driven organisation where the focus is on our user requirements and where quality is demonstrated in our day-to-day operations. We aim to respond to locally identified need through close engagement with the community, beneficiaries and potential beneficiaries. The services the Star offers are tailored to meet local need. e.g., opening hours and range of activities and programmes. The Star works on a holistic basis within the neighbourhood, catering for pre-school age children to providing a services for older people. Given its 'position' within the community, the Star Neighbourhood Centre has the flexibility to be able to react to particular situations and respond to changing local needs as and when they arise. Star Neighbourhood Centre provides a number of programmes, facilities and services to the Greater New Lodge community. These in¢lude:_ ' Early Years Project Out of Schools project ' Family Support Youth projects ' Older Persons support Support for groups Volunteer development Projects ' Community inclusion events The Centre acts &$ a local r¢sourc¢ centre for the community. This includes offering services such as typing, photocopying. computer and internet access, telephonelfax and lending equipment. The Star also acts as a conduit to statutory and voluntary organi5ations for local people to access infomiation of training. benefits, legislatio employment and acts as a "sign poster" to other community organisations and training providers within the area. As well as the provision of services, the Star acts as a development catalyst for the area advocating and campaigning on behalf of the community to attract resources and drawing the attention of resource providers and policy makers to the needs of the Greater New Lodge area.
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2023 ACHIEVEMENT AND PERFORMANCE MISSION, VISION AND VALUES The Star Neighbourhood Centre h&s adopted the following as its Mission, Vision and Value Statements: Mission To improve the quality of life of residents by providing essentiaI services to the Greater New Lodge area Vision Working to develop a cohesive and thriving community Values In working together towards our mission, we are committed to a number of values which underpin all that we do and the way that we do it. Community led - the participation of local people is central to our work. ' Respect - everyone has the right to be treated with dignity and respect. Equality and Social Justice - we seek to challenge poverty, injustice, and discrimination in all its forms" Quality - we value creativity and innovation; we strive to deliver quality and best practice in everything we ' Accessibility - we work to remove barriers and increase acc¢ssibility to our services. and Integrity - we work together at all times, ensuring sensitivity and openness.
Star Nei hbourhood Centre Re ort of the Trustees for the Year Ended 31 March 2023 FINANcL REVIEW Financial position The company had net outgoing resources for the year of £1,881 (2022: net outgoing resources of £23,339), which reflected the completion of a number of projects during the year. Unrestricted funds decr¢as¢d by £5,538 and restricted funds increased by £3,657. Reserves Policy The charity's policy is to retain a level of free reserves, which matches the needs of the Organisatio both at the current time and in the foreseeable future. The reserves required should be sufficient to meet committed grant expenditure and the running costs for a period equiva]ent to six months annual expenditure. The charity will continue to monitor compliance with this policy on a regular b&sis and th¢ Board will review the appropriateness of the policy annually. Future Plans Four strategic goals will detern]ine the services programrnes and projects we deliver. Our outcome b&sed approach in our work will provide a basis by which we can judge our success in our delivery. Each aim is supported by a series of outcomes which specifies the Changes we want to see, the difference we want to make. It sets out our goals and how we will achieve them. These Strategi¢ Aims will be achieved through operational objectives. Overall our strategy is underpinned by our Vision Mission and Valu¢s which drives all that we do. The core areas of our work are defined as: Community Development Childcare Youth Organisational Development Therefore the strategic aims of the Star Neighbourhood Centre reflect these areas as follows.. Strategic Aim I To meet the identified needs of our community through leadership, participation and empowennent in order that th¢ community continues to positively develop Strategic Aim 2 To provide high quality and ac¢¢ssibl¢ childcare services for local families Strategic Aim 3 To provide opportunities for young people to engage in personal and social development activities and to leave a legacy for the community Strategic Aim 4 To be a 'fit for purpose, organisation that strives to continually develop and deliver high quality service provision Capital Improvements
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 Mareh 2023 Extensive improvement works of the building were completed at the end of 2021. This year will see the outside play area benefit from a major refurbishment. Funding from Big lottery and Belf&st City Council will allow for improved access to the play arei the purchase of new play equipment and safe surfacing will provide quality play opportunities for children and young people STRUCTURE, GOVERNANCE AND IVIANAGEIIIENT Governing doeument The Star N¢ighbourhood Centre is a Company limited by guarantee N1046763 and also a registered charity tNIC104759]. This structure has been found suitable, meets all legal obligations and protects the Centre and Directors in the event of financial failure. Recruitment and appointment of new trustees The Charity follows an appraisal process to identify the skills required for the Trustee Board and to identify any skills gap on the Board. Members of the Trustee Board receive a full induction programme on joining the Trustee Board and thereafter receive ongoing training and briefing sessions.The board completes an annual evaluation of its effectiveness. Actions arising from this process are integrated into the corporate workplan. The Trustee Board uses open recruitment and strives to ensure that there is adequate local representation on the Trustee Board. The trustees delegate the day to day running of Star Neighbourhood to that of Maria Valente Manager. Finance Organisational structure The Star Neighbourhood Centre is a Company limited by guarantee tNt46763] and also a registered charity tNIC104759]. This structure has been found suitable, me¢ts all legal obligations and protects the Centre and Directors in the event of financial failure. Currently 9 local people are on the board of directors. The roles, functions and responsibilities of the committee are as follows:_ Deciding the overall strategy of the Centre; Acting as Company Directors, leasehold and employers, and taking full responsibility for all legal aspects involved in these are&s of work. Setting structures and procedures in plac¢ for the Committee to be maintained and replaced. ' Representing the Committee on external platfornis and to the general public. and ' Being collectively responsible for the management of the C¢ntr¢. Key management remunerntion The Charity Trustees were not paid and did not receive any remuneration from the Charity in the year 2023 (2022 :nil). During the year, no Trustees were reimbursed travel expenses (2022:nil). Related parties There were no related party transactions for the year ended 31 March 2023.
Star Nei hbourhood Celltre Re ort of the Trustees for the Year Ended 31 March 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The principles of good governance are embedded within all aspects of Star Neighbourhood Centre Limited operations with management and staff being keenly aware of the Boards responsibility of ensuring that the organisation protects itself from financial exposur¢ and reputational damage, A close working relationship is maintained between the Board and management to ensure that operationally staff are aware of the standards required of them by the Board and th¢ Board are always in a position to provide guidance and support to management in the discharge of their duties. This two way relationship is the key feature of Star Neighbourhood Centre Limited governance arrangernents and is a key strength in the company. A conscientious approach to ensuring that contractual project requirements are achieved has been maintained at all times both in the accounting period being reported on and since Star Neighbourhood Centre Limited establishment. Very tight financial controls on expenditure and all financial commitments are maintained at all times and project staff have been trained and have become experienced in budgetary controls. In both these areas ie Project delivery and financial controls management all staff have established close working relationships with funding organisations to ensure all mandatory standards are consistently achieved. Board representatives also actively engage with funding bodies. The Board, management and staff are fully aware that the nature of the work in whichever Neighbourhood Centre Limited is involved can bring with it a high level of scrutiny to ensure that all activities are fully compliant with funding requirements and, therefore, beyond reproach. The Board of Star Neighbourhood Centre Limited is, therefore. greatly reassured of the company's compliance with the highest of standards of governance on the basis that all monitoring and evaluation of project delivery demonstrates achievement of all finders objectives and that funders, audits and vouching of financial expenditure and the Independent Examiners Report confimi compliance with both probity and regularity in the use of monies received EVENTS SINCE THE END OF THE YEAR Infomiation relating to events since the end of the year is given in the notes to the financial statements. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Star Neighbourhood Centre for the purposes of company law) are responsibl¢ for preparing the Report of the Trust¢¢s and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including th¢ income and expenditure, of the charitable company for that period. In preparing those financial statements. th¢ truste¢s are required to select suitable accounting policies and then apply them ¢onsistently' observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to pr¢sume that the haritabl¢ company will continu¢ in business.
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2023 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report h&8 been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 3 May 2023 and sied on its behalf by: Kate Clarke - Trustee
Inde endent Examiner's Re Star Nei hbourhood Centre I report on the accounts of the company for the year ended 31 March 2023, which are set out on pages eleven to twenty four. ort to the Trustees of Respective responsibilities of charity trustees and examiner As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is rny responsibility to: examine the accounts under Section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ereland under Section 65(9)(b) of the Charities Act state whether particular rnatters have come to rny attention. Basis of the independent examiner's report I have examined your charity accounts &8 required under Section 65 of the Charities Act and my exarnination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accouiits, and seeking explanations from you as charity trustees conceming any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe.. That accounting records were not kept in accordance with Section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appltcable in the UK and Republic of Ireland That there is further inforniation needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect of the matters (l) to (4) listed above and, in connection with following the Directions of the Clwity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Billy D Lynn Drake & Co Ltd Chartered Accountants 1st Floor 34 B-D Main Street Moira Co. Annagh BT67 OLE 3 May 2023 10
Stsr Nei hbourhood Centre Statement of Financial Activities Inco oratin an Income and Ex for the Year Ended 31 March 2023 enditure Account 31.3.23 Total funds 31.3.22 Total funds Unrestricted fund Restricted funds Notes INCOME AND ENDOWMENTS FROM Charitable activities Grants Receivable 234,472 234,472 210,019 Other trading activities 13,400 13.400 16,546 Total 13,400 234,472 247,872 226,565 EXPENDITURE ON Charitsble activities Direct Charitable Expenses Governance 18.399 539 228,114 2,701 246,513 3,240 246,642 3,262 Total 18,938 230,815 249,753 249,904 NET tNCOME/(EXPENDITURE) (5,538) 3,657 (1,881) (23,339) RECONCILIATION OF FUNDS Total funds brought forward 61,149 144,078 205,227 228,566 TOTAL FUNDS CARRIED FORWARD 55,611 147,735 203,346 205,227 The notes forni part of these financial statements
Star Nei hbourhood Centre Statement of Financial P 31 March 2023 sition 31.3.23 31.3.22 Notes FIXED ASSETS Tangible assets 180,156 186,582 CURRENT ASSETS Debtors Cash at bank 86 36,297 4,150 21.701 36,383 25,851 CREDITORS Amounts falling du¢ within one year io (13,193) (7,206) NET CURRENT ASSETS 23,190 18,645 TOTAL ASSETS LESS CURRENT LIABILrrIES 203,346 205,227 NET ASSETS 203,346 205,227 FUNDS Unrestricted funds Restricted funds 12 55,611 147,735 61,149 144,078 TOTAL FUNDS 203,346 205,227 The charitable Cornpany is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. The members have not required the company to obtain an audit of its financial statements for the year cnded 31 March 2023 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charltable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of th¢ state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with thc requirements of Sections 394 and 395 and which othen¥ise comply with the requirements of the Companies Act 2006 rclating to financial slatements, so far as applicable to the charitable company. The notes fom part of these financial statements 12 continued...
Star Nei hbourhood Centre Statement of Financial Position - continued 31 March 2023 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 3 May 2023 and were signed on its behalf by: Kate Clarke - Trustee Gerard O'Reilly - Trustee Liam Wiggins - Trustee The notes form part of these financial statements 13
Star Nei hbourhood Celltre Notes to the Financial Ststements for the Year Ended 31 March 2023 ACCOUNTING POLICIES Basis of preparing the financial statements (a) General infornlation and basis of preparation Star Neighbourhood Centre Limited is constituted as a company limited by guarantee incorporated in Northern Ireland (N1046763). In the event of the charity being would up, the liability in respect of the guarantee 15 limited to £1 per member of Ihe charity. The charity constitutes a public benefit entity as defined by FRS 102. The financial stateinents have been prepared in accordance with Accounting and Reporting by Charities.. 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). the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2013, the Companies Act 2006 and UK Generally Accepted Practice as it applies from l January 2015. The financial statements are prepared on a going concern basis under the historical cost conventio modified to include certain items at fair value. Th¢ financial statements are presented in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. (b) Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The airn and use of each designated fund are set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. Th¢ cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund are set out in the nofrs to the flnancial statements. Further explanation of the nature and purpose of each fund is included in the notes to the fuw]cial statements. (e) In¢ome recognition All incoming resources are included in the Stat¢m¢nt of FTnancial Activities (SOFA) when the charity is legaIly entitled to the income after any p¢rforman¢¢ conditions have been met, the amount can be measured reliably, and it is probable that the income will b¢ r¢¢¢ived. 14 ontinued...
Star Nei hbourhood Centre Notes to the Financial Statements- continued for the Year Ended 31 March 2023 ACCOUNTING POLICIES - continued Basis of preparing the finaneial statements For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of perfonnance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities (SOFA) when receivable. Income received from collections is recognised when received. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable. it can be measured reliably, and the charity has control over the item. Fair value is detennined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open rnarket for such facilities and services. A corresponding amount is recognised in expenditure. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees, Annual Report. For legacies. entitlement is the earlier of the charity being notified of an irnpending distribution or the legacy being received. At this point income is recognised. On occ&sion legacies will be notified to the charity however it is not possible to rneasure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. The charlty receiv¢s government grants which are detailed within the notes to these financial statements. Income from government and other grants ar¢ recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. (d) Expenditiure recognition All expenditure is accounted for on an accruals basis inclusive of VAT which cannot be recovered and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required. and the amount of the obligation Can be measured reliably. It is categoiised under the following headings= Costs of raising funds includes th¢ costs associated with attracting voluntary incomes. Expenditure on charitable activiti¢s includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. and Other expenditure represents those items not falling into the categories above. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. 15 continued...
Star Nei hbourh od Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ACCOUNTING POLICIES - continued Basis of preparing the financial statements Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive th¢ grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity. {e) Support eosts alloeation Support costs are those that assist the work of the charity but do not directly represent charitsble activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditttre on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on an insert detail b&8is and other overheads have been aIlocated on a basis consistent with the use of resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating inforn]ation in support of the charitable activities. (fj Tangible fixed assets Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairnient 105ses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual vaIue, of each asset on a systematic basis over its expected useful life as follows.. Freehold property - 20/0 Straight Line Fixtures and fittings 15 % on cost Minibus - 25% on Reducing Balance ) Debtors and creditors receivable I payable Trvithin one year Debtors and creditors with no stated interest rate and receivabl¢ or payable within one year are recorded al transaction price. Any losses arising from impairn]¢nt are recognised in expenditure. (h) Financial Instruments A financTal asset or a financial liability is recognised only when the charity becomes a party to the contractual provision of the instrument. B&8ic financial instruments are initially recognised at the amounts receivable or payable including any related transaction costs. Current assets and current liabilities are subscquently measured at the cash or other consideration expected to be paid or relived and not discounted. Debt instrurnents are subsequently me&sured at amortised cost. 16 continued...
tar Nei hbourhood Centre Not to the Financial Statements- continued for the Year Ended 31 March 2023 ACCOUNTING POLICIES - Continued Basis of preparing the financial statements Where investments in shares are publicly traded or their fair value can othenvise 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 impaimient. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an &8set is deferred beyond nonnal business ternis or financed at a rale 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 designed hedging relationship. Financial assets that are measured at cost or arnortised cost are reviewed for objective evidence of impairment at the end of each reporting date. if there is objective evidence of impainnent an impainnent loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain is recognised. For all equity instruments regardless of significance. and other financial assets that are individually significanL these are assessed individually for impairnient. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairnient are recognised immediately, to the extent that the reversal does not result in a canying amount of the financial asset that exceeds what the carrying amount would have been had the impainnent not previously been recognised. (i) Impairment Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or th¢ assevs cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable arnount, an impairnient loss is recognised in profit or loss unless the asset is carried at a revalu¢d arnount where the impairment loss is a revaluation d¢cre&se. (i) Provisions Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an oufflow of economic benefits will be required in settlement and the amount can be reliably estimated. (k) Leases Assets acquired under finance Icases are capitalised and depreciated over the shorter of the lease tern] and the expected useful life of the &8set. Minirnum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. 17 continued...
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 Mareh 2023 ACCOUNTING POLICIES - eontinued Basis of preparing the financial statements Rentals payable and receivable under operating leases are charged to the SOFA on a straight line basis over the period of the lease. (l) Tax No provision is required for taxation &8 the company is defined as a charity for tatIOn puOseS. The charity is a registered charity and so such is entilled to certain tax exemptions on income and profits from investments and surpluses on any trading activities carried on in furtherance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes. (m) Going eoneern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial stat¢rnents. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. (n) Judgements estimates The following judgements including those involving estimates that have been made in the process of applying the above accounting policies that have had the most sig]ificant effect on the amounts recognised in the financial statements and that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year: (i) depreciation method and asset useful lives The estimates and assurnptions are reviewed on an ongoing basis considering the current and future market conditions. Taxation The charity is exempt from corporation tax on its charitable activities. T21ation The charity is a registered charity and so such is entitled to certain tax exemptions on income and profits from investments and surpluses on any trading activities carried on in furtherance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable putposes. Fund accounting Unrestricted funds can be used in accordance with the charitable objectiv¢s at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. R¢strictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 18 continued...
Star Nei hbourhood Centre Notes to the Finaneial Statements - eontinued for the Year Ended 31 March 2023 ACCOUIYTING POLICIES - continued Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Staternent of Financial Activities in the period to which they relate. OTHER TRADING ACTIVITIES 31.3.23 31.3.22 Ashton CIT Childcare Fees Interest Received 644 15,899 13,400 13,400 16,546 INCOME FROM CHARITABLE ACTIvrrIES 31.3.23 31.3.22 Activity Grants Receivable Grants 234,472 210,019 Grants received, included in the above, are as follows: 31.3.23 31.3.22 Department for Communities - Salaries Department for Communities - Running costs Children in Need Belfast City Council - Revenue Belfast City Council - Summer Sch¢me Ashton Centre HSCB Childcare Partnership Belfast Interface Project Education Authority - Belfast Region Duncairn Community Partnership Pathway Fund - Early Y¢ar5 Childcare Partnership Big Lottery - Awards for All Belfast City Council LIF Childcare Recovery Support Fund John Moore NHA BMF Community Fund 141,387 1,500 7,380 13,500 4,782 2,129 131,203 6,880 13,000 4,060 1,900 17,529 2,000 1,150 20,093 6,082 9,999 18,470 20,093 15,354 5.000 1.000 234,472 210.019 19 continued..
Star Nei hbourho entre Notes to the Financial Statements- Continued for the Year Ended 31 March 2023 NET INCOMEI(EXPENDITURE) N¢t income/(expenditure) is stated after chargingl(crediting): 31.3.23 31.3.22 Depreciation - owned assets 6,426 6,206 INDEPENDENT EXAMINERS REIIIUNERATION The independent examiners remuneration amounts to an independent examination fee of £3,240 (2022 £3,240) TRUSTEES, RElItUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 3 l March 2023 nor for the year ended 31 March 2022. Trustees, expenses There were no Irustees, expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. STAFF COSTS 31.3.23 31.3.22 Wages and salaries Other pension costs 159,296 11,176 154,996 11,162 170.472 166,158 The average monthly number of employees during the year was as follows.. 31.3.23 31.3.22 Management & Administration No employees received emoluments in excess of £60,000. 20 continued...
tar Nei hbourhood Centre Iyotes to the Financial Statements- continued for the Year Ended 31 March 2023 TANGIBLE FIXED ASSETS Fixtures Freehold property fittings Minibus Totals COST At l April 2022 and 31 March 2023 281,894 62,867 5,200 349,961 DEPRECIATION At l April 2022 Charge for year 97,964 5,638 60,306 765 5.109 23 163,379 6,426 At 31 March 2023 103,602 61,071 5,132 169,805 IYET BOOK VALUE At 31 March 2023 178,292 1,796 68 180,156 At 31 March 2022 183,930 2,561 91 186.582 DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 31.3.23 31.3.22 Prepayments and accrued income 86 4,150 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.23 31.3.22 Sociat security and other taxes A¢¢ruals and deferred income 6.460 6,733 745 6,461 13,193 7,206 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.3.23 Total funds 31.3.22 Total fwids Unrestricted Restricted fund funds Fixed assets Current assets Current liabilities 42.420 17,457 (4.266) 137,736 18,926 (8,927) 180.156 36,383 (13,193) 186.582 25,851 (7,206) 55,611 147,735 203,346 205,227 21 continued...
Stsr Nei hbourhood Centre Notes to the Financial tatements - continued for the Year Ended 31 March 2023 12. MOVEMENT IN FUNDS Net movement in funds At 3113123 At 114122 Unrestricted funds General fund 61,149 (5,538) 55,611 Restricted funds Deferred Capital Grant Reserve Education Authority - Belfast Region Big Lottery - Awards for All (Capital) Big Lottery- Awards for All 141,997 156 1,925 (5,661) (156) (525) 9,999 136,336 1,400 9,999 144,078 3,657 147,735 TOTAL FUNDS 205,227 (1.881) 203.346 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 13,400 (18,938) (5,538) Restricted funds D¢ferred Capital Grant Reserve Department for Communities - Salaries Department For Communities - Running costs Belf&%t City Council - Revenue Belfast City Council- Summer Scheme Children in Need Ashton Centre Education Authority - Belfast Region Duncairn Community Partnership Pathway fund - Early Years Childcare Partnership Big Lottery - Awards for All (Capital) Big Lottery - Awards for All Belfast City Council LIF John Moore NHA BMF Community Fund (5,661) (141,387) (5,661) 141,387 1,500 13,500 4.782 7,380 2,129 2,000 1,150 20,093 6,082 (1,500) (13,500) (4,782) (7,380) (2,129) (2.156) (1,150) (20,093) (6,082) (525) (156) (525) 9,999 9.999 18.470 5,000 1.000 (18.470) (5.000) (1.000) 234,472 (230,815) 3,657 TOTAL FUNDS 247,872 (249,753) (1,881) 22 continued...
Star Nei hbourhood Centre Notes to the Financial tatement for the Year EDded 31 March 2023 continued 12. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds At 3113122 At 114/21 Unrestrieted funds General fund 63,708 (2,559) 61,149 Restricted funds Deferred CapitaI Grant Reserve Education Authority - Belfast Region Big Lottery- Awards for All (Capital) Childcare Recovery Support Fund 147,666 (5,669) 156 {525) (14,742) 141,997 156 1,925 2,450 14,742 164,858 (20,780) 144,078 TOTAL FUNDS 228,566 (23,339) 205,227 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 16,546 (19,105) (2,559) Restricted funds Deferred Capital Grant Reserve Department for Communities - Salaries Belfast City Council - Revenue Children in Nced HSCB Childcare Partnership Belfast Interface Project Education Authority - Belfast Region Pathway fund - Early Years Big Lottery - Awards for All (Capital) Childcare Recovery Support Fund (5,669) (131,203) (13,000) (6,880) (4.060) (1.900) (17,373) (20,093) (525) (30,096) (5,669) 131,203 13,000 6,880 4,060 1,900 17,529 20,093 156 (525) (14,742) 15,354 210.019 (230.799) (20,780) TOTAL FUNDS 226.565 (249,904) (23,339) 23 continued...
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2023 13. CONTINGENT LIABILITIES A contingent liability exists to r¢pay grants received should certain conditions not be fulfilled by the charity. 14. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2023. 15. POST BALANCE SHEET EVENTS There were no events after the reporting period therefore no material issues need disclosed. 16. WINDING UP Every member of the Company undertakes to contribute to the assets of the Company, in the event of the same being wound up while it is a member, or within one year after it ceases to be a member, for payment of the debts and liabilities of the Company contracted before it ce&8es to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributor's among themselves, such amount as rnay be required not exceeding one pound. 17. SHARE CAPITAL The Company is Limited by Guarante¢ and has no Share Capital 18. COVID-19 The trustees Continue to monitor the irnpact of Covid 19. The trustees believe there is no adjusting events to report after the reporting dat¢. The trustees will continue to monitor the situation closely to secure the viability of the organisation. 24
Star Nei hbourhood Centre Detailed Statement of Financial Activities for the Year Ended 31 Mareh 2023 31.3.23 31.3.22 INCOME AND ENDOWIVIENTS Other trading aetivities Ashton CIT Childcare Fees Interest Received 644 15,899 13,400 13.400 16,546 Charitable activities Grants 234,472 210,019 Total incoming resources 247,872 226.565 EXPEF4DITURE Charitable activities Wages Pensions Insurance Light and heat Telephone and Internet Postage and stationery Sundries Volunteer Expenses Programme Costs Refurbishment costs Children & Youth Schemes Cleaning Affiliation & Membership fees Repairs & Maintenance Resources Repaid to Dep for Communities Health & Safety Repaid to Education Authority Salaries - Non Consolidated Uplift D¢pr¢ciation of tangible fixed assets Bank Charges 159,296 11.176 4,330 6,891 6,064 114 959 1,670 11,140 18,470 5,316 154,996 11,162 4,035 4,199 5,790 1,274 1,076 27,837 11,560 730 730 898 918 338 35 9,063 1,656 2,463 433 2,170 709 11,800 6,206 552 6,426 673 246,513 246.642 Support Costs This page does not fonn part of the statutory financial statements 25
Star Nei hb urh d Centre Detailed Statement of Financial Activities for the Year Ended 31 March 2023 31.3.23 31.3.22 Support costs Governance costs Independent Exarniners Fee Legal fees 3,240 3,240 22 3,240 3,262 Total resources expended 249,753 249,904 Net expenditure (1,881) (23,339) This page does not forni part of the statutory financial statements 26