REGISTERED COMPANY NUMBER: N1046763 (Northern Ireland) REGISTERED CHARITY NUMBER: NIC 104759 ort of the Trustees and Financial Statements for the Year Ended 31 March 2025 for Star Nei Acom hbourhood Centre Limited b Guarantee an Lynn Drake & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE
Star Nei hbourhood Centre Contents of the Financial Statements for the Year Ended 31 M2rch 2025 Page Reference and Administrative Details Report of the Trustees Independent Examiner's Report Statement of Financial Activities 10 Statement of Financial Position Notes to the Financial Statements 13 to 24 Detailed Statement of Financial Activities 25
Star Nei hbourhood Centre Reference and Administrative Details for the Year Ended 31 March 2025 TRUSTEES Kate Clarke Liam 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 Belfast Co. Antrim BT15 2FS REGISTERED COMPANY NUMBER N1046763 (Northern Ireland) REGISTERED CHARITY NUMBER NIC 104759 INDEPENDEINT EXAMINER Lynn Drake & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moira Co. Armagh 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 2025 The trustees who are also directors of the charity for the purposcs of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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) (effective l January 2019). It is with pleasure that I present the Star Neighbourhood Centre trustee report for year ending March 2025. Throughout 2024 the Star Neighbourhood Centre continued to focus on meeting the needs of local people, providing much needed services and supports for children, young people and their families, and delivering targeted support aimed at some of the most vulnerable member of the community. Although we are still operating in a challenging environment with short term funding and high living costs, I believe we are coming from a position of strength. With the expertise of our staff and the cominitment of our volunteers, with help from our partner organisation and the support of funders, I am confident the Star Neighbourhood Centre will carry on. Our childcare and family support services are runniiig at full capacity. Support from DFC Neighbourhood Renewal, DE Pathway Fund and Belfast City Council has not only sustained but strengthened our early year's provision. The youth project continues to work to meet the needs of the young people across North Belfast. The personal social and emotional developinent of young people remains our core work. With Youth intervention and good relations programmes also delivered. We are one year in to our 3 year strategic plan. In this year we have met and at times exceeded all our targets and achieved the outcomes set out for the community we serve, This report covers the SNC organisational key strategic aiins as well as activities and services delivered up to the end of March 2025 the Star Neighbourliood Board are delighted with the how the staff and volunteers have reacted to the pandemic and adapted their work practices. 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 Department for Communities. The Department of Education Pathway fund and Belfast City Council, 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 times we thank you. Liam Wiggins Chairperson
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2025 OBJECTIVES AND ACTIVITIES Signifieant Activities The Star Neighbourhood Centre is an organic and generic community 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 operatlons. 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 include:. 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 as a local resource centre for tlie community. This includes offering services such as typing, photocopying, computer and internet access, tel¢phone/fax and lending equipment. The Star also acts as a conduit to statutory and voluntary organisations for local people to access iiiformation of training, benefits, legislation, employment and acts as a 'sign post¢r to other community organisations and traiiiing 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 thc 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 2025 ACHIEVEMENT AND PERFORMANCE Review of the Year 40 Children benefited from the childcare services 42 People participated in Good relations projects 52 People engaged in community inclusion events l O Volunteers engaged in community development activities 52 Children took part in holiday schemes 32 People took part in programmes to support and develop parents 40 Residents received vouchers for support with cost of living 12 Individual young people received range of OCN qualifications 35 People took part in mental health promotion/awareness programmes 27 People participated in programmes to promote a healthy lifestyle 45 Young people benefitting from youth inclusion/diversionary projects
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2025 FINANCIAL REVIEW Financial Position The company had net incoming resources for the year of £9,141 (2024: net outgoing resources of £20,626), which reflected the completion of a number of projects during the year. Unrestricted funds increased by £15,342 and restricted funds decreased by £6,201. Reserves Policy The charity's policy is to retain a level of free reserves, which matches the needs of the organisation, 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 equivalent to six months annual expenditure. The charity will continue to monitor compliance with this policy on a regular basis and the Board will review the appropriateness of the policy annually. Future Plans Four strategic goals will determine the services programmes and projects we deliver. Our outcoine based 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 Strategic Aims will be achieved through operational objectives. Overall our strategy is underpinned by our Vision Mission and Valucs 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 m¢¢t the identified needs of our community through leadership, participation and empowerment in order that the community continues to positively develop Strategic Aim 2 To provide high quality and accessible childcare seTvices 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, oiganisation that strivcs to continually develop and deliver high quality service provision
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governance and Structure The Star Neighbourhood Centre is a Company limited by guarantee tN146763] and also a registered charity [NIC104759]. 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 committee are as follows'.- (i) Deciding the overall strategy of the Centre. (li) Acting as Company Directors, leasehold and employers, and taking full responsibility for all legal aspects involved in these areas of WOTk. (iii) Settiiig structures and procedures in place for the Committee to be maintained and replaced- (iv) Representing the Committee on external platforms and to the general public. and (v) Being collectively responsible for tlie management of tlie Centre. Mission, Vision and Values The Star Neighbourhood Centre has adopted the following as its Mission, Vision and Value Statements.. 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. (i) Community led - the participation of local people is central to our work. (li) Respect - everyone has the right to be treated with dignity and respect; (iii) Equality and Social Justice - we seek to challenge poverty, injustice, and discrimination in all its fonns. (iv) Quality - we value creativity and innovation. we strive to deliver quality and best practice in everything (v) Accessibility - we work to remove barriers and increase accessibility to our services. and (vi) Integrity - we work together at all times, ensuring sensitivity and openness. Recruitment and Appointment of INew 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 corporatc workplan. The Trustee Board uses open recruitment and strives to ensure that there is adequate local representation on th¢ Trustee Board. The trustees delegate the day to day running of Star Neighbourhood to that of Maria Valente Manager. Finance
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2025 Key Management Remuneration The Charity Trustees were not paid and did not receive any remuneration from the Charity in the year 2025 (2024 :nil). During the year, no Trustees were reimbursed travel expenses (2024:nil). Related Parties There were no related party transactions for the year ended 31 March 2025. Risk Management The principles of good governance are embedded within all aspects of Star Neighbourhood Centre Limited operations with inanagement and staff being keenly aware of the Boards responsibility of ensuring that the organisation protects itself from financial exposure 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 the 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 Eovernance arrangements 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 fundiiig 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 ompliant with funding requirements and, therefore, beyond reproach. The Board of Star Neighbourhood Centre Limited is, therefore, greatly reassured of tlie coinpany's compliance witli 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 fund¢rs' audits and vouching of financial expenditure and the Independent Examiners Report confirm compliance with both probity and regularity in the use of monies 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 financial statetnents. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Star Neighbourhood Centre for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Unit¢d Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland
Star Nei hbourhood Centre ort of the Trustees for the Year Ended 31 March 2025 STATEMENT OF TRUSTEES, RESPONSIBILITIES- continued Company law requires the trustees to prepare fiiiancial 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 the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently. 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 presume that the charitable company will Continue in business. 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 ensure that tlie finaiicial 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 has 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 30 May 2025 and signed on its behalf by: Li 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 2025, which are set out on pages ten to twenty four. ort to the Trustees of Respective responsibilities of cbarity 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 my 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 Ireland under 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 have examined your charity accounts as required under Section 65 of the Charities Act and my examination 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 accounling 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 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 applicable in the UK and Republic of Ireland That there is further information ne¢ded 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 th¢ Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Billy Dra Lynn Drake & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE 30 May 2025
Star Nei hbourhood Centre Statement of Financial Activities Incor oratRn an Income and Ex for the Year Ended 31 March 2025 enditure Account 31.3.25 Total funds 31.3.24 Total funds Unrestricted Restricted fund funds Notes INCOME AND ENDOWMEINTS FROM Charitable activities Graiits Receivable 213,623 213,623 216,204 Other trading activities 20,532 20,532 12,627 Total 20,532 213,623 234,155 228,831 EXPENDITURE ON Charitable activities Direct Charitable Expenses Governance 1.530 3,660 219,824 221,354 3,660 245,857 3,600 Total 5,190 219,824 225,014 249,457 NET INCOMEI(EXPENDITURE) 15,342 (6,201) 9,141 (20,626) RECONCILIATION OF FUNDS Total funds brought forward 51,139 131,581 182,720 203,346 TOTAL FUNDS CARRIED FORWARD 66,481 125,380 191,861 182,720 The notes form part of these financial statements 10
Star Nei hbourhood Centre Statement of Financial Position 31 March 2025 31.3.25 31.3.24 Notes FIXED ASSETS Tangible assets 167,560 173,736 CURRENT ASSETS Debtors Cash at bank 2,594 26,182 17,268 28,776 17,268 CREDITORS Amounts falling due within one year 10 (4,475) (8,284) NET CURRENT ASSETS 24,301 8,984 TOTAL ASSETS LESS CURRENT LIABILITIES 191,861 182,720 NET ASSETS 191,861 182,720 FUNDS Unr¢stri¢ted funds Restricted funds 12 66,481 125,380 51,139 131,581 TOTAL FUNDS 191,861 182,720 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have not required th¢ company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each flnancial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of th¢ Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes form part of these financial statements continued...
Star Nei hbourhood Centre Statement of Financial Position - continued 31 March 2025 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regiine. The financial statements were approved by the Board of Trustees and authorised for issue on 30 May 2025 and were signed on its behalf by: Kate Clarke - Trustee --[ o, Gerard O'Reilly - Trustee Liam Wiggins - Trustee The notes form part of these financial statements 12
Star Nei hbourhood Centre Notes to the Financial Statements for the Year Ended 31 March 2025 ACCOUNTING POLICIES Basis of preparing the finallcial statements (a) General information 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 is limited to £1 per member of the charity. The charity constitutes a public benefit entity as defined by FRS 102. The financial slatements have been prepared in accordancc 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 aiid 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 convention, modified to include certain items at fair value. The 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 arc set out below. These policies have been consistently applied to all years presented unless otherwise stated. (b) Funds Unrestricted funds are available for us¢ 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 bcen set aside by the trustees for particular purposes. The aim 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. The 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 notes to the financial statements. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. (¢) Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received. 13 continued...
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ACCOUNTING POLICIES - continued Basis of preparing the financial statements For donations to be recognised the charity will have been notified of tlie amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance 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 econornic benefit is probable, it can be measured reliably, and the charity has control over the item. Fair value is determined 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 market 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 impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will bc notificd to the charity however it is not possible to measure 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 exchang¢ for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. The charity receives government grants which are detailed within the notes to these financial statements. Income from government and other grants are 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 ainount can be mcasured reliably. If entitlement is not met, then thesc 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 conslructive obligation to make payments to third parties, it is probable that the s¢ttlern¢nt will be required, and the amount of the obligation can be measured reliably. It is categoris¢d 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 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 ¢xpenditure represents those items not falling into the categories above. Irrecoverable VAT is Charged as an expense against the activity for which expenditure arose. 14 ontinued...
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 Ililarch 2025 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 the 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 costs allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project inanagement arried out at Headquarters. Where support costs cannot be directly attributed to particular lieadings 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 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 contributions and do not include the costs of disseminating information in support of the charitable activities. (Q Tangible fixed assets Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairmeiit losses. 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 value, of each asset on a systematic basis over its expected useful life as follows: Freehold property - 2 % Straight Line Fixtures and fittings 150/0 on cost Minibus 25 % on Reducing Balance (g) Debtors and creditors receivable I payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairnient are recognised in expenditure. (h) Financial Instruments A financial asset or a financial liability is recognised only wh¢n the charity becomes a party to the contractual provision of the instrument. Basic financial instruments are initially recognised at the amounts receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or relived and not discounted. Debt instruments are subsequently measured at amortised cost. 15 continued...
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ACCOUNTING POLICIES - continued Basis of preparing the financial statements Where investments in shares are publicly traded or their fair value can otherwise 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 impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is tneasured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subseqiiently measured at fair value with any changes recognised in tlie statement of financial activities, with tlie exception of hedging instruinents in a designed hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. if there is objective evTdence of impairment an impairment 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 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 recognised immediately, to the extent that the reversal does not rcsLIIt in a carrying amount of tlie financial asset that exceeds what thc 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, the recov¢rabl¢ amount ol the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a Tevalued amount where the impairment loss is a revaluation decrease. ti) Provision5 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 outflow of economic benefits will be required in settlement and the amount can be reliably estimated. (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 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. 16 continued...
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ACCOUNTIIYG POLICIES - continued Basi5 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 as the company is defined as a charity for taxation purposes. The cliarity is a registered charity and so such is entitled to certain tax ex¢inptions 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 Concern 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 statements. 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 significant 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 witliin the next financial year.. (i) depreciation method and asset useful lives The estimates and assumptions are reviewed on an ongoing basis considering the current and future market conditions. Taxation The charity is exempt from corporation tax on its charitabl¢ activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions 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 statement5. Pension costs and other post-retirement benefit3 The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are Charged to the Statement of Financial Activities in thc period to which they relate. 17 continued...
Star INei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2025 OTHER TRADING ACTIVITIES 31.3.25 31.3.24 Fundraising and Donations Childcare Fees Interest Received Sundry Income 115 12,356 156 19,943 189 400 20,532 12,627 INCOME FROM CHARITABLE ACTIVITIES 31.3.25 31.3.24 Activity Grants Receivable Grants 213,623 216,204 Grants received, included in the above, are as follows: 31.3.25 31.3.24 Department for Communities - Salaries Belfast City Council - Revenue Belfast City Council - Summer Scheme Belfast City Council - Good Relations Belfast City Council - Small Grants 134,274 16,829 1,500 2,000 950 124,129 16,200 2,500 3,276 2,000 1,000 3,695 8,977 21,000 2,764 17,032 1,000 3,155 1,500 7,976 Groundwork NI Belfast Interface Project Education Authority - Belfast Region Pathway Fund - Early Years Childcare Partnership Belfast City Council LIF Belfast City Council Health & Wellbeing Cash for Kids Department for Communities Cost of Living Department for Communities Boiler Replacement Belfast City Council - Fitness Group Belfast City Council - EVAWG Department of Health - SPPG Newington Housing Garfield Weston 800 7,912 23,000 2,400 678 7,280 1,000 15,000 213,623 216,204 18 continued...
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2025 NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after chargingl(crediting)'. 31.3.25 31.3.24 Depreciation - owned assets 6,176 6,420 INDEPENDENT EXAMINERS REMUNERATION The independent examiners remuneration amounts to an independent examination fee of £3,540 (2024 £3,540) TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS 31.3.25 31.3.24 Wages and salaries Other pension costs 148,278 11,343 150,256 11,564 159,621 161,820 The average monthly number of employees during the year was as follows.. 31.3.25 31.3.24 Manag¢ment & Administration No employees received emoluments in excess of £60,000. 19 continued...
Star Nei hbourhood Centre Notes lo the Finanei21 Statements - continued for the Year Ended 31 March 2025 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Minibus Totals COST At l April 2024 and 31 March 2025 281,894 62,867 5,200 349,961 DEPRECIATION At l April 2024 Charge for year 109,240 5,638 61,836 525 5,149 13 176,225 6,176 At 31 March 2025 114,878 62,361 5,162 182,401 NET BOOK VALUE At 31 March 2025 167,016 506 38 167,560 At 31 March 2024 172,654 1,031 51 173,736 DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.25 31.3.24 Other debtors 2,594 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Social security and other taxes Accruals and deferred income 4,491 3,793 4.475 4,475 8,284 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.3.25 Total funds 31.3.24 Total funds Unrestricted Restrictcd fund funds Fixed assets Current assets Current liabilities 42,180 22,316 1,985 125,380 6,460 (6.460) 167,560 28,776 (4,475) 173.736 17.268 (8,284) 66,481 125,380 191,861 182,720 20 continued.
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2025 12. MOVEMENT IN FUNDS Net movement in funds At 3113125 At 114124 Unrestricted funds General fund 51,139 15,342 66,481 Restricted funds Deferred Capital Grant Reserve Department for Communities - Salaries Big Lottery - Awards for All (Capital) 130,681 25 875 (5,651) (25) (525) 125,030 350 131,581 (6,201) 125,380 TOTAL FUNDS 182,720 9,141 191,861 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 20,532 (5,190) 15,342 Restrieted funds Deferred Capital Grant Reserve Department for Communities - Salaries Belfast City Council - Revenue Belfast City Council - Summer Scheme Belfast City Council Good Relations Belfast City Council - Small Grants Belfast Interface Project Education Authority - Belfast Region Pathway fund - Early Years Big Lottery - Awards for All (Capital) Belfast City Council - Fitness Group Belfast City Council - EV AWG Department of Health - SPPG Newington Housing Garfield Weston (5,651) (134,299) (16,829) (1,500) (2,000) (950) (800) (7,912) (23,000) (525) (2,400) (678) (7,280) ( 1,000) (15.000) (5,651) (25) 134,274 16,829 1,500 2,000 950 800 7,912 23,000 (525) 2,400 678 7,280 1,000 15,000 213,623 (219.824) (6,201) TOTAL FUNDS 234,155 (225,014) 9,141 21 continued...
Star Nei hbourhood Centre Notes to the Financial Statements - continued for the Year Ended 31 Mareh 2025 12. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds At 3113124 At 114123 Unrestricted funds General fund 55,611 (4,472) 51,139 Restricted funds Deferred Capital Grant Reserve Department for Communities - 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 22 continued...
Star Nei hbourhood Centre Notes to the Finaneial Statements - contlnued for the Year Ended 31 March 2025 12. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 12,627 (17,099) (4,472) Restricted funds Deferred Capital Grant Reserve Department for Communities - Salaries Belfast City Council - Revenue Belfast City Council - Summer Scheme Belfast City Council Good Relations CFNI Groundwork Nl Belfast Interface Project Education Authority - Belfast Region Pathway fund - Early Years Childcare Partnership Big Lottery - Awards for All (Capital) Big Lottery - Awards for All Belfast City Council LIF Belfast City Council Health & Wellbeing Cash for Kids Department for Communities Cost of Living Department for Communities Boiler Replacement (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) (5,65 5) 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 ( 1,000) (3,155) 1,500 (1,500) 7,976 (7,976) 216,204 (232,358) (16,154) TOTAL FUNDS 228,831 (249,457) (20,626) 23 continued...
Star Nei hbourhood Centre Notes to the Financial Statements - eontinued for the Year Ended 31 March 2025 13. CONTINGENT LIABILITIES A contingent liability exists to repay 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 2025. 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 ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributor'5 among theinselves, such amouiit as may be required not exceeding one pound. 17. SHARE CAPITAL The Company is Limited by Guarantee and has no Share Capital 24
Star Nei hbourhood Centre Detailed Statement of Finaneial Activities for the Year Ended 31 March 2025 31.3.25 31.3.24 INCOME AND ENDOWMENTS Other trading activities Fundraising and Donations Childcare Fees Interest Received Sundry Income 115 12,356 156 19,943 189 400 20,532 12,627 Charitable activities Grants 213,623 216,204 Total incoming resources 234,155 228,831 EXPENDITURE Charitable activities Wages Pensions Insurance Telephone and Internet Postage and stationery Utilities Volunteer Expenses Programine Costs Refurbishment costs Cleaning R¢pairs & Maintenance Creche Resources Resources Health & Safety Repaid to Dfc D¢pr¢ciation of tangible fixed assets Bank Charges 148,278 11,343 5,249 4,663 549 5,979 1,508 20,127 150,256 11,564 4,887 4,294 833 5,461 3,234 21,859 23,761 118 1,056 1,866 816 10,205 2,638 296 6,176 1,661 7,050 3,627 6,420 1,437 221,354 245,857 Support costs Governance costs Independent Examiners Fee 3,660 3,600 Total resources expended 225,014 249,457 Net incomel(expenditure) 9,141 (20,626) This page does not form part of the statutory financial statements 25