REGISTERED COMPANY NUMBER: N1046763 (Northern Ireland) REGISTERÈD CHARITY NUMBER: NIC 104759 ort of the Trustees and Financial Statements for the Year Ended 31 March 2024 for Star Nei hbourhood Centre Acom an Limited b Gu#rantee Lynn Drake & Co Ltd Chartered Accountants 1st Floor 34 B-D Main Street Moira Co. Arinagh BT67 OLE
Star Nei hbourhood Centre Contents of the Financial Statements for the Year Ended 31 March 2024 Page Referenee and Administrative Details Report of the Trustees Independent Examiner's Report Statement of Financial Actlvities 13 Statement of Financial Position 14 to 15 Notes to the Financial Statements 16 to 28 Detailed Statement of Financial Activities 29 to 30
Star Nei hbourhood Centre Reference and Administrative Details for the Year Ended 31 March 2024 TRUSTEES Kate Clarke Liam Corr Cecilia Heron Liain Wiggins Marisa Mcmahon Gerard O'Reilly Tommy Quigley Sally Smith Joe Doherty COMPANY SECRETARY Kate Clarke REGISTERED OFFICE 79-83 Hillinan Street Belfast Co. Antrim BTI 5 2FS REGISTERED COMPANY IYUMBER N1046763 (Northern Ireland) REGISTERED CHARITY NUMBER NIC 104759 INDEPENDENT EXAMINER Lynn Drake & Co Ltd Chartered Accountants 1st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE CHIEF EXEC OFFICER Maiia Valente BANKERS All led Irish Baiik 11-15 Donegall Square North Belfast BTI 5GB
Star Nei hbourhood Centre Re ort of the Trustees for the Year Ended 31 March 2024 Tlie 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 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities-. Stateinent of Recommended Practice applicable to charities preparing their ac¢ouiits in a¢cordanc¢ with the Financial Reportiiig Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019)-
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES Review of Year 2023 began with uncertainty and pessimism around funding. The Star Neighbourhood Centre faced short term funding arrangemeiits and huge cuts in available funding. The sector, still recovering froin the covid pandem ic now faced tlie cost-of-living crisis. This coupled with the political vacuuill at Stormont, wliich had left us williout a functioning Asseinbly, has created ali unprecedeiited fiinding enviroiiinent. Tlie reality was that we were required to do Inuch Inore, with Inuch less. Against this ominous backdrop The Star Neighbourhood Continued to deliver mucli needed services and support for tlie cominuiiity. The SNC board applaud the tireless work of our staff aiid volunteers in providing an iinpressive number of projects, programines, activities, and events throughout the past year. This year approximately 130 people directly benefit from our services, and the indirect beneficiaries is double this. CoiT)munity participated is at the heart of our organisatioii. All our activities whether it be iinpioving access to quality childcare, Inaking our commuiiities safer, youth development, bui Iding cohesive communities or building capacity. it is al l about making life a little better for residents. Our family support services include an Early Years childcare Service, an out of school project, children's holiday scliemes and parents, developinent and support programmes. Our youth service delivered a raiige of Personal, Social &, Emotional developineiit prograinines for yoiiiig people aged froin l 0-20 years old as well as several Good Relations and intervention prograinme. The long-established older persons group coiitinues to Ineet at least once a week. This group provides a place where older people can meet, socialise and come togetlier to participate in programines and events. The group offers older people the opportunity to get involved iii wider community activities, helping to reduce feelings of isolation and loiieSiness. Our voluiiteer prograinine provides access to opportunities and supports people to learn aiid develop. We contribLlted to iniproving the health aiid well-being of residents by provid iiig a range of Health proinotion prograins. We continue to acts as a local resource center for tlie coiniiiunity. Offering services such as photocopyinglscanning, use of PC/Laptops. Wi-Fi/internet access, telephone use and lending equipment. W¢ believe local comniunity based and generic projects such as ours, offers first level intervention aiid quality services wliich have an iininediate, visible and discernible effect on people who have persoiially endured aiid experienced the devastating effects living in ali area of disadvaiitage The Star Neiglibourhood Centre continues to work in partnersliip with community groups, orgaiiisations and agencies iii order to develop skills, strengthening organisational structure and proc¢sses, addressing equality issues and promoting engagement and participation. This report contains the organisational key strategic aims and the activities and services delivered during the year to achieve desired outcomes. 46 Children benefited from the childcare services 48 People participated in Good relations projects l O Voluiiteers eiigaged in commuiiity development activities
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2024 68 Children took part in holiday schemes 21 People took part in prograinmes to support and develop parents 30 Received food voucher siipport 50 Older people took part in a good relation social events 15 Individual yoiing people received raiige of OCN qualifications 30 Cliildren & young people took part in mental health proinotionlawareness programines 26 People participated iii prograinmes to promote a healthy lifestyle 40 Young people benefitting from youth inclusionldiversionary projects Star Neighbourhood Board are delighted witli the organisations performance and focus on positive outcomes to improve the lives of residents. A special tliank you must be extended oiice again to our members who actively support the star and our work. To our funders, iii particular OLir maiii flinders Departinent for Coinmunities Neighbourhood Renewal. Tlie Department of Educatioii Patliway fund, and Belfast city couiicil, without their support we would not exist. To all the organTsations aiid individuals who have supported the Star Neighbourhood Centre through the good tiines aiid tlie not so good tiines we thank you. Liam Wiggins Lhairperson
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 Mareh 2024 OBJECTIVES AND ACTIVITIES Objectives and Activities Tlie Star Neighbourhood Centre is an organic and generic community orgaiiisation, based on the Duncairn Gardens interface iii the New Lodge area of North Belfast We are a quality driven organisation where the focus is on our user requireinents and where quality is demonstrated iii our day-to-day operatioiis. We aim to respoiid to locally identified need through close engagement with the cominunity, beneficiaries and potential beneficiaries. Tlie services the Star offers are tailored to meet local need. e.g., opening hours and range of activities and prograinmes. The Star works on a holistic basis witliiii the neiglibourhood, catering for pre-school age children to providing a services for older people. Given its 'position' williin tlie community, the Star Neighbourliood Centre has the flexibility to be able to react to particular situations and respond to cliangiiig local needs as and when they arise. Star Neighbourhood Centre provides a number of programmes, facilities and services to tlie Greater New Lodge cominunity. These include'.- Early Yeai's Project Out of Schools project Family Support Youth projects Older Persons support Support for groups Volunteer development Projects Coiiiinlllllty incliision events As well as the provision of services, the Star acts as a development catalyst for the area advocating and campaigning on behalf of tli¢ cominuiiity to attract resources and drawing the attention of resource providers and policy makers to the needs of the Greater New Lodge ar¢a.
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2024 ACHIEVEMENT AND PERFORMANCE Charitable activities The Star Neiglibourhood Centre is an organic and generic community organisation, based on the Duncairn Gardeiis interface in the New Lodge area of North Belfast. We are a quality driven organisation wliere the focus is on our user requirements and where quality is deinoiistrated in our day-to-day operations. We aim to respond to locally identified iieed through close engagement with the community, beiieficiaries and potential beneficiaries. The services tlie Star offers are tailored to meet local need, e.g., opening hours and range of activities and programines. 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 flexibi lity to be abl¢ to react to particular situations and respond to changing local needs as and wheii they arise. Star Neighbourliood Centre provides a number of prograinmes, facilities and services to the Greater New Lodge community. These include'.- Early Years Project Out of Schools project Family Support Yolltli projects Older Persons support Support for groups Voliiiiteer development Projects Cominunity inclusion events Tl)e Ceiitre acts as a local resource ceiitre for the cominunity. This iiicludes offering services such as typing. pliotocopying, coinpiiter and interii¢t access, telephone/fax and lending equipinent. The Star also acts as a coiiduit to statutory and voluntary organisations for local people to access iiiformatioii of training, beiiefits, legislation, employment and acts as a 'sigii poster" to other comimuiiity organisations and training providers within the area. As well as the provision of services. the Star acts as a d¢velopment catalyst for the ar¢a advocating and cainpaigning on behalf of the coininunity to attract resources and drawing the attention of resource providers aiid policy makers to the needs of th¢ Great¢r New Lodge area.
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2024 ACHIEVEMENT AND PERFORMANCE MISSION, VISION AND VALUES The Star Neighbourhood Centre has adopted the following as its Mission, Vision and Value Statemeiits.. Mission To improve the quality of life of residents by providing essential 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. Coinmunity 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 JLlStice we seek to challenge poverty, injustice, and d iscriillination in all its forins. Quality - we value creativity and innovation. we strive to deliver quality and best practice iii ev¢rything we Accessibility - we work to reinove barriers and increase accessibility to our services. aiid Integrity - we work together at all tiines, ensuring sensitivity and openness. FINANCIAL REVIEW Financial position Tlie coinpany had iiet oiitgoing resoiirces for the year of £20,626 (2023.. net outgoing resources of £1,881), which reflected tlie coinpletion of a number of projects during the year. Unrestricted funds decreased by £4,472 and restricted funds decreased by £16,154. Reserves Policy The cliarity's policy is to retain a level of free reserves, which Inatclies the needs of the organisation, both at the current time and in the foreseeable future. The reserves required should be sufficiei)t to meet coininitted grant expenditLire and the runniiig costs for a period equivaleiit to six months annual expenditure. The charity will continue to Inonitor compliance with this policy on a regular basis aiid the Board will review the appropriatencss of the policy aniiually.
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2024 FUTURE PLANS Four strategic goals will deterinine the services programmes and projects we deliver. Our outcome based approach in our work will provide a basis by which we can judge our success in our delivery. Each aiin 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 th¢m. These Strategic Aims will be achieved tlirougli operational objectives. Overall our strategy is underpinned by our Vision Mission and Values wliich drives all that we do. Tlie core areas of our work are defined as: Coinmunity Development Childcare Youth Organisational Development Therefore the strategic aiins of the Star Neighbourhood Centre reflect these areas as follows: Strategic Aiin I To ineet tlie identified needs of our community through leadership, participation and einpowermeiit iii order that the cominunity continues to positively develop Strategic Aim 2 To provide Iiigh quality and accessible cliildcare services for local families Strategic Aiin 3 To provide opportunities for young people to engage in personal and social development activities and to leave a legacy for the coinmuiiity Strategic Aim 4 To be a 'fit for purpose, organisation that strives to continually develop and deliver high quality service provision Capital improveinents The refurbishinent of the playground is completed. We are grateful for the substaiitial fuiiding from Belfast City Council Local Investment Fuiid and Big Lottery awards for All, for Inaking it all possible. Capital Grant from Department Of Cominunities funded a boiler replacement aiid the internal painting of the biiilding. Plaiined Projects/Programmes T.. BUC prograinmes for young people Coinmunity inclusion event for older p¢opl¢ New Early years project STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Star Neighbourhood Centre is a Coinpany limited by guarantee N1046763 and also a registered charity tNICI 04759]- This structure has been found suitable, meets all legal obligations and protects the Centre and Directors in the event of financial failure.
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AIYD MANAGEMENT Recruitment and appointment of new trustees The Charity follows an appraisal process to identify the skills required for the Truslee Board and to identify any skills gap on the Board. Members of the Trustee Board receive a full inductioii programme on joiiiiiig the Trustee Board and thereafter receive ongoing training and briefing s¢ssioiis.Tlie board completes an annual evaluation of its effectiveness. Actions arisiiig froin this process are integrated into the corporate workplan. The Trustee Board Lises open recruitment and strives to ensure tliat 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 Tlie Star Neighbourhood Ceiitre is a Company limited by guarantee [N146763] and also a registered charity [NICI 04759]- This structure has been found suitable, meets 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 cominittee 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 tliese areas of work; Setting striictures aiid procediires in place for the Committee to be maintained and replaced- Representing the Committee on external platforms and to the general public; aiid Being collectively responsible for tlie nianagement of tli¢ Ceiitr¢. Key management remuneration The Charity Trustees were not paid and did not receive any remiineration froiii the Charity in the year 2024 (2023 :nil). During the year, no Trustees were reiinbursed travel expenses (2023:nil). Related parties Tli¢r¢ were 110 related party transactions for the year ended 31 March 2024.
Star Nei hbourhood Centre Re ort of the Trustees for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The principles of good governance are embedded within all aspects of Star Neiglibourliood Centre Limited operations witli manageinent and staff being keenly aware of the Boards responsibility of ensuring that the organisation protects itself froin finaiicial exposure and reputational damage, A close working relationship is maintained between the Board and Inanageinent to ensure that operationally staff ar¢ aware of the staiidards required of them by the Board and the Board are always in a positioii to provide guidance and support to management in the discharge of their duties. Tliis two way relationship is tlie key feature of Star Neighbourliood Centre Limited governance arrangements and is a key strength in the company. A conscientious approacli to ensuring tliat coiitractual project requireineiits are acli ieved has beeii maiiitaii)ed at all times both in the accounting period being reported on and siiice Star Neiglibourhood Ceiitre Liinited establishment. Very tiglit fiiiancial controls 011 expenditure and all fii)an¢ial cominitineiits are Inaiiitained at all tiines and project staff have been traiiied and have become experienced in budgetary controls. In both these areas ie Project delivery aiid finaiicial controls management all staff have established close working relationships with funding organisations to eiisure all maiidatory standards are consistently achieved. Board represeiitatives also actively engage with fiinding bodies. The Board, managemeiit and staff are fully aware that the iiature of the work in wliicliever Neigl)bourhood Centre Liinited is involved can bring with it a higli level of scrutiny to ensure that all activities are fully compliant with funding requireineiits and, therefore, beyond reproach. The Board of Star Neighbourliood Ceiitre Limited is, tlierefore, greatly reassured of the company's compliance with the Iiighest of standards of goveriiance on the basis that all Inoiiitoring aiid evaluatioii of project del ivery demonstrates achieveinent of all finders objectives and tliat funders, audits and vouching of financial expenditure and the Independent Exainiiiers Report confirin coinpliaiice witli both probity and regularity in the use of nionies received EVENTS SINCE THE END OF THE YEAR Information relating to events since the end of the year is given in the notes to the fiiian¢ial stateillents. STATEMENT OF TRUSTEES, RESPONSIBILITIES Tlie triistees (who are also th¢ directors of Star Neiglibourhood Centre for the piirposes of company law) are responsible for preparing the Report of the Trustees and the financial stateineiits iii accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) includ iiig Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland" Company law requires the triistees to prepar¢ financial statements for eacli financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources aiid application of resources. including the incoine and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to sclect suitable accouiiting pol icies and then apply them consistently- observe the methods and principles in the Charity SORP. Inake judgements and estiinates that are reasoiiable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 10
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable thein to eiisure tliat tlie fiiiancial statenients coinply witli the Companies Act 2006. They are also responsible for safeguardiiig the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report 112s 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 oil 15 May 2024 and signed on its belialf by.. I&CL Kate Clarke - Trustee
Inde endent Examiner's Re Star Nei hbourhood Centre I report on the accounts of the company for tlie year ended 31 March 2024, wliich are set out 011 pages thirteen to twenty eight. ort to the Trustees of Respective responsibilities of charity trustees and examiner As the charity's triistees (and also the directors for the purposes of company law) you are responsible for the preparatioii of the accounts in accordaiice with the requireinents 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 my responsibility to: exainiiie tlie accouiits under Section 65 of the Cliarities Act follow the procedures laid down in the gei)eral Directions given by the Cliarity Coinmission for Northern Ireland undei. Section 65(9)(b) of the Charities Act state whether particular matters have come to my attention. Basis of the independent examiner's report I Iiave examined your cliarity accounts as required under Section 65 of the Charities Act and my examination was carried oiit in accordance with the geiieral Directions given by tlie Charity Commission for Nortliern Ireland under Section 65(9)(b) of the Charities Act. Tlie examination included a review of the accountiiig 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 accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whetlier any material matters have come to my attention giving me cause to believe.. Tliat accounting records were not kept in accordaiice with Sectioii 386 of the Coinpaiiies Act 2006 Tliat tlie accounts do not accord witli those accountiiig records That tlie accounts do not comply with tlie accounting i-equirements of Section 396 of tlie Coinpanies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing tlieir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republ ic of Irelaiid Tliat there is further inforination needed for a proper understanding of the accounts to be reached. Independent examiner's statement I liave completed my examination and liave no conceriis in respect of the Imatters ( l ) to (4) listed above and, in coniiectioii witli followiiig the Directions of tlie Cliarity Commissioii for Northern Irelaiid, I liav¢ found no matters that require drawing to your attention. Billy Lynn Drak¢ & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE 15 May 2024 12
Star Nei hbourhood Centre Statement of Finaneial Aetivities Ineor oralin an Iiicome and Ex for the Year Ended 31 March 2024 enditure Account 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restricted fund fuiids Notes INCOME AND ENDOWMENTS FROM Charitable activities Grants Receivable 216,204 216,204 234,472 Otlier tradiiig activities 12,627 12,627 13,400 Total 12,627 216,204 228,831 247,872 EXPENDITURE ON Charitable activities Direct Cliaritable Expenses Governance 13,499 3,600 232,358 245,857 3,600 246,513 3,240 Total l7,099 232,358 249,457 249,753 NET INCOMEI(EXPENDITURE) (4,472) (l6.154) (20,626) (1,881) RECONCILIATION OF FUNDS Total funds bi'ought forward 55,611 147,735 203,346 205,227 TOTAL FUNDS CARRIED FORWARD 51,139 131,581 182,720 203,346 The notes form part of tliese financial statements 13
Star Nei hbourhood Centre Statement of Financial Position 31 March 2024 31.3.24 31.3.23 Notes FIXED ASSETS Tangible assets 17J,736 180,556 CURREIYT ASSETS Debtors Cash at bank 86 36,297 17,268 17,268 36,383 CREDITORS Amounts falling due within one year 10 (8,284) (13,193) NET CURREINT ASSETS 8,984 23,190 TOTAL ASSETS LESS CURRENT LIABILITIES 182,720 203,346 NET ASSETS 182,720 203,i46 FUNDS Unrestricted funds Restricted funds 12 51,139 131,581 55,611 147,735 TOTAL FUNDS 182,720 20J,346 The charitable company is entitled to exemption from audit uiider Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The Ineinbers have Iiot required the compaiiy to obtain an aud it of its finaiicial stateinents for the year ended 31 March 2024 in accordaiice with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuriiig that the charitable coinpany keeps accounting records tliat comply witli Sections 386 and 387 of the Companies Act 2006 and preparing financial stateinents which give a true and fair view of the state of affairs of the charitable company as at the end of each fiiiancial year and of its surplus or deficit for each financial year iii accordance witli tlie requiremeiits of Sections 394 aiid 395 and whicli otherwise comply witli the requirements of the Coinpanies Act 2006 relating to financial statements, so far as applicable to the charitable cornpany. (b) The notes form part of these financial statements 14 continued..
Star Nei hbourhood Centre Slatemenl of Financial Position - continued 31 March 2024 These finaiicial statements have been prepared in accordaiice with tlie provisions applicable to charitable conipanies subject to the sinall coinpaiiies regiine. The financial stateinents were approved by the Board of Trustees and authorised for issue on 15 May 2024 and were signed on its behalf by- Kate Clarke - Trustee Gerard O'Reilly Trustee fva O'LL Liam Wiggins - Trustee The notes form part of these financial stateineiits l5
Star Nei hbourhood Centre Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUINTING POLICIES Basis of preparing the financial statements (a) General information and basis of preparation Star Neighbourhood Centre Limited is constituted as a company limited by guarantee incorporated in Northerii Ireland (N1046763). In tlie event of the charity being would up, tlie liability in respect of tlie guarantee is limited to £ I per meniber of the cliarity. Tlie charity constitutes a public benefit entity as defined by FRS I02. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Re¢oinineiided Practice applicable to charities preparing tlieir accounts in accordance with the FiiianciÉil Reporting Standard appl icablc in th¢ UK and Republ ic of Ireland (FRS 102), tlie Finaiicial Reporting Standard applicable iii the United Kingdoni 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 stateineiits are prepared on a going concern basis under the historical cost coiiveiition. modified to include certain items at fair value. The financial stateinents are preseiited iii sterliiig which is the functional currency of tlie charity. The sigiiificant accountiiig policies applied iii the preparation of these fiiiancial 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 coinprise unrestricted funds tliat have been set aside by the trustees for particular purposes. The aiin and use of eacli designated fund are set out in the notes to the financial statements. Restricted funds are funds which are to be used iii accordance with specific restrictioiis imposed by donors or wliich have been raised by tlie charity for particular purposes. The cost of raising and administering such funds are charged agaiiist the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. (c) Income recognition All incoming resources are included in the Stateinent of Financial Activities (SOFA) when the charity is legally eiititled to the iiicome after any perforinance conditions have b¢¢ii met, tlie amount can be measured reliably, and it is probable that the income will be rec¢iv¢d. 16 continued...
Star Nei hbourhood Centre Notes to the Financial Statements- continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - continued Basis of preparing the financial statements For donations to be recognised the charity will have beeli notified of tlie ainounts and the settleinent date in writing. If there are conditions attached to the donation and this requires a level of perforinance before entitleinent can be obtained then income is deferred until those conditions are fully met or the fulfiliiient of tliose conditions is within the control of the charity and it is probable that they will be fulfilled. Voluntary incoine 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 recogiiised iii income at tlieir fair value wlieii their economic benefit is probable, it can be Ineasured reliably, and the charity has control over tlie item. Fair value is determined 011 tlie basis of tlie value of tlie gift to the charity. For exainple, the amount the charity would be willing to pay in tlie open market for such facilities and services. A corresponding amount is recognised in expenditure. No amount is incliided iii the financial stateinents for volunteer tiine in line with the SORP (FRS 102). Further detail is given in the Truste¢s' Aiinual Report. For legacies, entitleinent is the earlier of the charity being notified of ali iiT]pending d istribution or the legacy being received. At this point income is recognised. Oil occasion legacies will be notified to the charity Iiowever it is iiot possible to ineasure tlie amount expected to be distribiited. On these occasions, the legacy is treated as a contingent asset and disclosed. Income from tradiiig activities incliides income earned from fundraising events and trading activities to raise funds for the charity. Incoine is received in exchaiige for supplying goods aiid services in order to raise funds and is recognised wlien entitlement has occurred. The cliarity receives goveriiineiit graiits whicli are detailed witliin the iiotes to these fiiiancial statements. Income froin government aiid other grants are recogiiised at fair vallie when the charity has eiititleinent after aiiy perforinance conditions have been Inet, it is probable that tlie incoine wil I be received, and the ainoiint can be measiired reliably. If entitlement is iiot met. then tliese amounts are deferred. (d) Expenditiure recognition All expenditure is accouiited for on ali accruals basis inclusive of V AT which cannot be recovered aiid has been classified under headiiigs that aggregate all costs relat¢d to the category. Expenditure is recognised wliere there is a legal or constructive obligation to make payinents to third parties. it is probable that the settlement will be required, and th¢ amouiit of the obligation cali be measured reliably. It is categorised under the following headings.. Costs of raising funds includes the costs associated with attracting voluntary incomes. Expenditure on charitable activities includes those costs incurred by the charity iii the delivery of its activities and services for its beiieficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect natiire necessary to support them. and Other expenditure represents those items not falling iiito the categories above. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. 17 coiitinued..
Star Nei hbourhood Centre Notes to the Finaneial Statements - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES- continued Basis of preparing the financial statements Grants payable to third parties are within the charitable objectives. Where uncoiiditioiial grants are offered. this is accrued as soon as tlie recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipieiit will receive the grants. Wliere grants are conditional relating to performance tlien the grant is oiily accrued when any unfulfilled conditioiis are outside of the control of the charity. (e) Support costs allocation Support costs are those that assist the work of the charity but do not directly represeiit charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on tlie objects of the charity and include project maiiageineiit carried out at Headquarters. Wh¢r¢ support costs caiinot be directly attribiited to particular lieadings they have been allocated to cost of raising funds and expeiiditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on an iiisert detail basis and other overheads have been allocated on a basis consistent with the use of resources. Fund-raising costs are those incurred in seeking voluntary contribiitions and do not include the costs of d isseminating information in support of the charitable activities. (fj Tangible fixed assets Tangible fixed assets are stated at cost less accumulated depreciation and accumulatcd impairmeiit losses. Cost includes Costs directly attributable to makiiig the asset capable of operating as inteiided. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Freehold property 20/0 Straight Line Fixtiires and fittings 15% oiicost Minibiis 25 % on Reducing Balance (g) Debtors and creditors receivable / payable within one year Debtors and Creditors with no stated interest rate and receivable or payable witliin one year are recorded at transaction price. Any losses arising from iinpairment are recognised iii expenditure. (h) Financial Instrument5 A financial asset or a financial liability is recognised only when the charity becoines a party to the contractual provision of the instrument. Basic financial instruments are initially recognised at the ainounts receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or otlier consideration expected to be paid or relived and not discounted. Debt instruments are subsequently measured at amortised cost. 18 continued...
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES- continued Basis of preparing the financial statements Where investments in shares are publicly traded or their fair value can otherwise be tneasured reliably, the investment is subsequeiiily measured at fair value with changes in fair value recognised in incoine and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal busiiiess terins or financed at a rate of interest that is not a Inarket rate, in whicli case tlie asset is measured at the present value of the future payinents 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 tlie exception of hedging instriimeiits in a designed hedging relationship. Finaiicial assets tliat are iiieasured at cost or amortised cost are reviewed for objective evidence of impairinent at the eiid of eacli reportin(T date. if there is objective evidence of iinpairment an impairinent loss is recogiiised under the appropriate heading in the statement of financial activities in which the in itial gaiii is i'ecognised. For all eqiiity instrum¢i)ts regardless of significance, and otliei. financial assets tliat are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recogiiised iminediately, to the extent that the reversal does iiot result in a carrying amount of the finaiicial asset that exceeds what tlie carrying amount would have been had the impairment 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, th¢ r¢cov¢rable amount of the asset, or th¢ asset's cash generatiiig unit, is estimated and compared to the carrying amount. Where tlie carrying amount exceeds its recoverable amount, an impairinent loss is recognised in profit or loss iinless tlie asset is carried at a revalued amount where the impairment loss is a revaluation decrease. (i) Provisions Provisions are recognised when the charity has an obligation at the balance sheet date as a resiilt of a past eveiit, it is probable that an outflow of ecoiioinic benefits will be required in settlcinent and the amount cali be reliably estiillated. (k) Leases Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payin¢nts are apportioned betweeii 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 iii creditors. 19 continued...
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - continued 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 tlie lease. {1) Tax No provision is required for taxation as tlie company is defined as a cliarity for taxation purposes. Tlie cliarity is a registered cliarity and so such is entitled to certain tax exemptions on income and profits from investinents and surpluses on any trading activities carried oli in furtherance of the charity's priinary objectives, if these profits and surpluses are applied solely for charitable purposes. (m) Going concern Tlie financial statements have been prepared oli a goiiig ¢oii¢ern basis as the trustees believe that no Inaterial uiicertainties exist. The trustees liave considered tlie level of fuiids held aiid the expected level of incoine aiid expenditiire for 12 montlis from authorising tliese financial statements. The budgeted iiicome aiid expeiiditure is sufficient with the level of reserves for tl)e cliarity to be able to continiie as a going concern. (n) Judgements estimates The followiiig judgeinents incliidiiig those involving estiimates that have been Inade in the process of applying tlie above accounting policies that have had the Inost significant effect on tlie ainounts recognised in the financial statements and that have a sigiiificant risk of causing a material adjustineiit to the carrying amounts of assets and l labilities within the next finaiicial year.. (i) depreciation method and asset useful lives The estiinates and assumptions are r¢view¢d on an ongoing basis considering the current and future market conditions. Taxation The charity is exeinpt from corporation tax on its Cliaritable activities. Taxation The cliarity is a registered charity and so such is entitled to certain tax exemptions on incoine and profits from investments and surpluses on any trading activities carried oli in furtherance of the charity's primary objectives, if thcse profits and surpluses are applied solely for charitable purposes. Fund accounting Unrestricted fiinds Can be used in accordance with the charitabl¢ objectives at the discretion of th¢ trustees. Restricted funds can only be used for particular restricted purposes within the obj¢cts of the charity. Restrictions arise when sp¢cifi¢d 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 stateineiits. 20 continued...
Star Nei hbourhood Centre Notes to the Financial Statement5 - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - Continued Pension costs and other post-retirement benefits The cliaritable company operates a defined contribution pension schcine. Contributions payable to the cliaritable coinpaiiy's pension scheme are charged to the Statement of Fiiiancial Activities in the period to which they relate. OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Fundraising and Donatioiis Cliildcare Fees Interest Received 115 12,356 156 13,400 12,627 13,400 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Activity Graiits Receivable Grants 216,204 234,472 Grants received, included in the above, are as follows.. 31.3.24 31.3.23 Departiiient for Communities Salaries Department for Communities - Runniiig costs Children in Need Belfast City Council - Revenue Belfast City Council - Suinnier Scheme Belfast City Council Good Relatioiis Asliton Centre CFNI Groundwork Nl Belfast Iiiterface Project Education Authority - Belfast Region Diincairn Cominunity Partnersliip Pathway Fuiid - Early Years Childcare Partiiership Big Lottery - Awards for All Belfast City Council LIF John Moore NHA BMF Community Fiind B¢lfast City Council Health & Wellbeing Cash for Kids Department for Communities Cost of Living Department for Communities Boiler R¢plac¢ment 124,129 141,387 1,500 7,380 13.500 4,782 16,200 2.500 3,276 2,129 2,000 1,000 3,695 8,977 2,000 21,000 2,764 20,093 6,082 9,999 18,470 5,000 1,000 17,032 1,000 3,155 1,500 7,976 216,204 234,472 continued.
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 NET INCOMEI(EXPENDITURE) Net iiicome/(expenditure) is stated after charging/(crediting)'. 31.3.24 31.3.23 D¢pre¢iatioii - owned assets 6,420 6,426 INDEPENDENT EXAMINERS REMUNERATION The iiidependent examiners remuneration amounts to an independent exainiiiation fee of £3,600 (2023 £J,240) TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trustees, expenses paid for the year ei)ded 31 Marcli 2024 nor for the year ended 31 March 2023. STAFF COSTS 31.3.24 31.3.23 Wages aiid salaries Other peiision costs 150,256 11,564 159,296 11,176 161,820 170,472 The average rnonthly number of employees durlng the year was as follows: 31.3.24 31.3.23 Manageinent & Adininistration No employees received emoluments in excess of £60.000. 22 Continued.
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Minibus Totals COST At l April 2023 and 31 March 2024 281,894 62,867 5,200 349,961 DEPRECIATION At l April 202i Charge for year 103,602 5,638 61,071 765 5,132 17 169,805 6,420 At 31 March 2024 109,240 61,836 5,149 176,225 NET BOOK VALUE At 31 Marcli 2024 172,654 1,031 173,736 At 31 Marcli 2023 178,292 1,796 68 180,156 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Prepayinents and accrued income 86 10. CREDITORS: AMOUNTS FALLIIYG DUE WITHIN ONE YEAR 31.3.24 Social seclirity and otlier taxes Accriials and deferred income 4,491 3,793 6,460 6,733 8,284 13,193 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.3.24 Total fiinds Unrestricted Restricted fund funds Total funds Fixed assets Current assets Current l iabi lities 42,180 10,783 (1,824) 131,556 6,485 (6,460) 173,736 17,268 (8,284) 180,156 36,383 (13,193) 51,139 131,581 182,720 203,346 23 continued.-.
Star Nei hbourhood Centre Notes to the Financial Statements continued for the Year Ended 31 March 2024 12. MOVEMENT IN FUNDS Net Inovement in funds At 3113124 At 114123 Unrestricted funds Geiieral fund 55,611 (4,472) 51,139 Restrieted funds Deferred Capital Grant Reserve Depai'tiiient for Coininunities - Salaries Big Lottery - Awards for All (Capital) Big Lottery - Awards for All 136,336 (5,655) 25 (525) (9,999) 130,681 25 875 1,400 9,999 147,735 (16,154) 131,581 TOTAL FUNDS 203,346 (20,626) 182,720 24 continued...
Star Nei hbourhood Centre Notes to the Financial St2ternents - Continued for the Year Ended 31 March 2024 12. MOVEMENT IN FUNDS - continued Net moveiTJent in funds, included in the above are as follows.. Incoining resources Resources expended Movement in funds Unrestricted funds General fund 12,627 (17,099) (4,472) Restricted funds Deferred Capital Grant Reserve Departiiient for Cominiinities - Salaries Belfast City Coiincil Revenue Belfast City Council - Summer Scheme Belfast City Council - Good Relations CFNI Grouiidwork Nl Belfast Iiiterface Project Education Authority - Belfast Region Patliway fiind - Early Years Childcare Partnership Big Lottery - Awards for All (Capital) Big Lottery - Awards for All Belfast Cil), Coiincil LIF Belfast City Council Health & W¢llbeiiig Cash for Kids Departinent for Communities Cost of Living Departinent for Communities Boiler Replaceiiient (5,655) (124,129) (16,200) (2,500) (3,276) (2,000) ( 1,000) (3,695) (8,977) (21,000) (2,764) (525) (9,999) (17,007) (5,655) 25 124.154 16,200 2,500 3,276 2,000 1,000 3,695 8,977 21,000 2,764 (525) (9,999) 17,007 1,000 3,155 ( I ,000) (3,155) 1,500 (1,500) 7,976 (7,976) 216,204 (232,358) (16,154) TOTAL FUIYDS 228,831 (249,457) (20,626) 25 contiiiued.
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 12. IVIOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in fuiids At J113/23 At 114122 Unrestricted funds General fund 61,149 (5,53 8) 55,611 Restricted funds Deferi-ed Capital Grant Reserve Educatioii Aiitl)ority - Belfast Region Big Lottei'y - 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 26 continued...
Star Neiohbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 12. MOVEMENT IN FufsDS - continued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in fuiids Unrestricted funds General fuiid 13,400 (18,938) (5,538) Restricted funds Deferred Capital Grant Reserve Departmeiit t.or Coininuiiities - Salaries Departineiit For Coinmuii ities Riinniiig costs Belfast City Council - Revenue Belfast City Council - Summer Sclieme Clii Idi-eii iii Need Asliton Ceiitre Education Authority - Belfast Region Duncairn Comniunity Partnership Pathway fuiid - Early Years Childcare Partnership Big Lottery - Awards for All (Capital) Big Lottery - Awards for All Belfast City Couiicil LIF Jolin 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) (7,3 80) {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 FUINDS 247,872 (249,753) (1,881) 13. CONTINGENT LIABILITIES A conti ii(reiit liabil ity exists to repay grants received should certain conditions not be fulfi I led by the charity. 27 continued...
Star Nei hbourhood Centre Notes to the Fiijancial Statements - continued for the Year Ended 31 March 2024 14. RELATED PARTY DISCLOSURES There wei'e iio related party transactions for the year ended 31 March 2024. 15. POST BALANCE SHEET EVENTS There were iio events after the reporting period therefore no material issues need disclosed. 16. WINDING UP Every nieiiiber of the Company undertakes to contribule to the assets of the Coinpany. in the event of the saine being iiiound up wliile it is a Inetnber, or within one year after it ceases to be a member, for paymeiit of tlie debts and liabilities of the Coinpany coiitracted before it ceases to be a Ineinber, and of tlie costs. cliarges and expenses of winding up, and for the adjustmei)t of the rights of the contributor's among tlieiiiselves, such amount as may be required not exceeding oiie pound. 17. SHARE CAPITAL The Coinpany is Limited by Guarantee and has no Share Capital 28
Star Nei hbourhood Centre Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Other trading activities Fiindraising aiid Doiiations Cliildcare Fees Interest Received 115 12,356 156 13,400 12,627 13,400 Charitable activities Graiits 216,204 2J4,472 Total incoming resources 228,831 247,872 EXPENDITURE Charitable activities Wages Pensions Insurance Telcphone and Iiitei'net Postage and statioiiery Suiidries Utilities Volunteer Expenses Programme Costs Refurbishinent costs Cliildren & Yoiitli Schemes Cleaning Affiliation & Meinbersliip fees Repairs & Maiiiteiiaiice Resources Repaid to Dep for Cominuiiities Health & Safety Repaid to Education Authority Depreciation of tai)gibl¢ fixed assets Bank Charges 150,256 11.564 4,887 4,294 159,296 11,176 4,330 6,064 114 959 6,891 1,670 11,140 18,470 5,316 5,461 3,234 21,859 23,761 118 338 35 9.063 1,656 2,463 433 6,426 673 ,056 7,050 3,627 6,420 1,437 245,857 246,513 Support costs Governance costs Independent Exaininers Fee 3,600 3,240 This pag¢ does not form part of the statutory financial statements 29
Star Nei hbourliood Centre Detailed Stateinent of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 Total resources expended 249,457 249,753 Net expenditure (20,626) (1,881) This page does not form part of the statutory financial statements 30