REGISTERED COMPANY NUMBER: N1037894 (Northern Ireland)
REGISTERED CHARITY NUMBER: NIC 104799
ort of the Trustees and
Financial Statements for the Year Ended 31 March 2023
for
Loiyer Ormeau Resldents Aelion Grou
Acom
an
Limited b Guarajitee
Lynn Drake & Co Ltd
Statutory Auditors
I st Flooi.
34 B-D Main Street
Moii'a
Co. Annagh
BT67 OLE

Loiver Ormeau Residents Action Grou
Contents of the Fiiiancial Statemeiits
for the Year Ended 31 March 202
Page
Reference rdnd Administrative Detai15
Repoi't of the Trustees
Report of the Independent Auditors
10 to 13
Statement of Financial Activities
14
Statement of Financial Position
15
Statement of Cash Floivs
16
Notes to the Statement of Cash Floiys
17
Notes to the Financial Statements
18 to 34
Detailed Statement of Financial Activities
35 to 37

Lower Ormeau Residents Action Grou
Reference and Administrative Details
for the Year Ended 31 March 2023
TRUSTEES
John Gonnl¢y
Mai'ie Cavanagh
Lucy Rice
ain Caiiieron
Daiiiela Coiite
Marie Lavery
Donna Nainukasa
Ronan McKenna
COMPANY SECRETARY
Geiard Ric¢
REGISTERED OFFICE
Shaftesbury Ceiitre
97 Balfour Ave
Belfast
Co. Anti'im
BT7 2EW
REGISTERED COMPANY
NUMBER
N1037894 (Northern IT¢laiid}
REGISTERED CHARITY
NUMBER
NIC 104799
AUDITORS
Lynn Di?k¢ & Co Ltd
Statulory Auditors
I st Floor
34 B-D Main Street
Moira
Co. Aiinagh
B T67 OLE
BANKERS
Allied Irish Bank
35 Uiiiversity Road
Belfast
BT7 IND
CHIEF EXECUTIVES
Mr Gerard Rice / Ms Natasha Brennan

Lower Ormeau Residents Action Grou
ort of tlie Trustees
for the Year Ended 31 March 202
The tt'ustees who are also directors of tlie cliarity foi. the pui-poses of Ilie Companies Acl 2006, preseiil their
report with the fiiiancial stateinents of the charity for the year ended 31 March 2023. TE]e trnslees have
adopted the pi'ovision8 of Accounting and Repoiting by Charities: Stat¢inent ot" Reconimeiided Pi'actice
applicable to cliarities pi'eparing their accounts in ac¢ordai)ce with tlie Financial Reporting Standard
applicable in the UK and Republic of li-eland (FRS 102) (effe¢tive l January 2019).
OBJECTIVES AND ACTIVITIES
Princlple activities aiid Future Development
Lower oi.meau Residents Action Group (LORAG) is a registered Charity whose purpose is to promote the
beiiefit of Ilie residetits of the Lower Ormeau area without distinetioii of age, sex, race, political, I'eligious or
oiher opinion.
LORAG meets these objectives by liaisiiig with varioiis statutory agencies, voluntary orgaiiisalions and
Belfasi City Council and vai-ious Stoi'inont Depaitinent which have responsibility for the area.
Public benefit
Purpose I
Woi'k in partnership lo advance education and p1'eSe￿c, prote¢t health and wellbeing.
The benefit that flows fi-oin this purpose is the developiiieiit of targeted educational aiid Iiealtli sei'vices for
fainilies, inci'easing family oppoitui)ities for family educational attainment, reduciiig poveity, sti-ess aiid
anxiety foi- fainilies, inci'easing family healtli and wellbeing.
The benefits al-e demonst17ted through baseline and final ¢valuations using a range of measures to collect
qualitative aiid quantitative data aci'oss OUT pro￿.aMInes. Tlie data collected includes self-efficacyj wellbeing
scales and CORE NET as col'e data to deinonstrat¢ change, as well as important focus gi'oups, p31.eiit
feedback, paiticipant questioiinair¢s and oiigoing inoiiiloring by staff and voluiiteei's. We Inonitor family atid
individual wellbeing, increased educational attainment, personal developnienl, reduciiig poverty, stress, and
anxiety for iesideiits
The risk of haini foi. setvice users al'e carefully considered pi'ior to the deliv¢iy of sei'vic¢s..
Purpose 2
To pi'ovide coininunity based facilities iii tlie interests of social welfare foi- i'ecreation and leisure tiine
occiipation with tlie object of iiiiproviiig the conditions of life for the said inhabitants.
The benefit tliat flows fi-oin this purpose is tlie developinent of a faniily fi'iendly cominunily liealtliy living
liub, offering increases access and gi-eater paiticipation of famili¢s iii sport, r¢ci'eation, and leisure services
and tlius iinproviiig the coiidilions of life foi. inhabitants.
Shatlesbury Coniiiiunity and Recreatioii Centre (Ilie Centi'e) is owned by Belfast City Council and nianaged
by LORAG iiiider a 25 year lease. Th¢ C¢nli'e is open 7 days a week (96 hours per week) to the public aiid
currenily has a daily footfall ot" approx. 750 people pei. day. Tlie age range of those availing of tlie Centi'e 6
iiioiiths to 92 years of age. Tlie Ceiitre services include Pre aiid After-scliools, Ment1¢ l Health, Youtli Drop-n,
Commuiiity Coliesion, Healtli Education, Therapies Room, Coiinselling Rooiiis, Indoor Sports facility,
Daiice StudiolMinoi- Filiiess Hall, Gyin, Outdoor 3g Pitch. Tlie beiiefits al-e deinonstrated Ilii'ough aetive
participation and feedback froni tlie beneficiaries, community suiv¢ys, and iiici'eased usage of Ilie Cenlre.
The beiieficiai'ies of services atid progi'ainiiies delivei'ed will iiiclude priinai'ily bul iiot exclusively i'esideiits
from the Lowei. Oi'iiieau, Innei. South Belt"ast, Soutli Belfast and widei. Belfast ai'eas.

Loiyer Ormeau Resfidents Action Grou
ort of tlie Trustees
for the Year Ended 31 March 2023
STRATEGIC REPORT
Fiiianeial Review of the Year
In 2022123 the Lower Orineau Resid¢nts Action Group (LORAG) has contiiiued to deliver and ¢nhance a
range of iniportaiit services lo m¢et its strategic goals of providiiig healtli, social, leisure and coiiimunity
d¢velopineiital activities aiid developing the socio-ecoiioinic profile of the area, Our core projects ii) the
areas of children, youth, health, and cohesion have operated extremely successfully, achieving key targets in
tenns of iiuinbers atteiiding and diversity as well as further developing the qiiality and effectiveness of the
pi'ogi'animes on offer to the coinmiinity.
LORAG as a community developnieiit orgaiiisation has maintaiiied a cradle to the gi'ave" approacli to the
delivei'y of seivices witli a key focus ai'ound children, youiig people and fainilies, delivering holistic support
to families with cliildren froin 2-18 years. Core to the organisation's ability to deliv¢r is tlie ongoing funding
froni the Departnient for Coinniunities (Dfc) thi'ougli the Belfast Regeneration Office for the delivery of
childi'eii at)d youth-based seivices, and the inanageiiieiit of Shaftesbury. Pi'ograiilme deliv¢iy iiicludes 260
afterschool sessions foi- 5-1 lyear-olds,350 sessions for 2-1 lyear-olds over the school year, 10 specific
targeted prograinines for 65 children aiid 2 persoiial developinent i'¢sideiitial breaks for 20 children aged I I
years old. The prograiiiine actively tai'gets key tiines of school closure, Eastei., Suiiimer, Clirislinas, and
Halloweeii bi'eaks providing diversionary fuji ihcined progi'amines that include sports cainps, centi'e-based
lubs, residentials. breaks and trips for children that iiiight otheLJvise engage in anti-social activities over 9
weeks of the year.
DFC fuiiding allows foi- delivery of col'e youth services pi'oviding a youth drop in 5 niglits pei. week. OCN
accreditatioiis, arc progi'aniines and diversionary trips foi. youiig people aged 12-25 years old. The youth
pi'ogranime delivei'ed by a trained youth staff team provides a safe space for youiig people to develop and
build their skills and relationships ai)d take part in a wide range of persoiial developineiit prograiiiines,
tackling key issues for youiig people such as eiiiotional wellbeillg, Inental healtli, drugs, and sexual healtli
awai'eness.
The youth project was able to fully engage in Dfc's Unitiiig Coininunilies South Belfast
Initiative working closely witli East Afi'ica NI, Lagan Village Community Centre, SOLAS and various South
Belfast youth pi'ovidei's allowing 30 young people to take part in a 6-month good relations prograinine. The
project also delivei-ed a successful Good Relations progi'ainme Our Kids Oui. Fiittir¢ Leaders in partnership
with Alt¢rnatives and Co-operation liEland which culminated in a cei'etnony in Queen's Univei'sity foi. both
pareiits and young people.
Additional funding was received froiii tlie Education Aiitliority for tlie suiwner period to suppoit our work
around good relations, co1￿1]UnIty safely and diversionary activities in a period when young people wei'e
found to be Jnost at risk of ¢ngagii)g in i'isk-taking behavioui's paiticiilai'ly over tlie 7-w¢ek school closure
period. Children and young people played a key role in shaping the developinent and delivery of the
progi'ammes delivered throughout tlie period.
much-needed Eai-ly YeaiE suppoit service for the community, LORAG'S First Stait,2-4-yeai-_old
programiiie secui'ed fundiiig fi-oin the Pathway Fuiid to coiitinue the delivery of this essei)tial progi'amme
tlii'ough the Eai'ly Y¢ars Pathway Fiind. The funding allowed tor the continued delivery of a bespoke
coininuiiity based, free service for childreii and their wider fainily, iiicluding key engagemeiil willi pai'ents
throughout tli¢ year. This pi-oject has been hug¢ly successfiil and is iii higli demand, delivering 7+ sessions
per week. Tlie project has worked witli 58 childirn tliroiigh structured sessions within a nurtiiring
environment. The projecl also deliv¢red 14 stay and play sessions with 40 parents attending, 8 family trips
with 50 families attendiiig at least one ti'ip along witl) 50 pai'eiit and toddler sessions.

Lower Ormeau Residents Action Gro
ort of the Trustees
for the Year Ended 31 March 2023
As a Healthy Living Centi"¢, health and well-being are at the core of all LORAG'S projects .LORAG has
developed bespoke prograinines and delivered innovative initiatives across Soutli Belfast aiid beyond,
d¢sigfftied to improve heal¢li outcomes. Programmes delivered include a broad range of liealth improvements
such as Choose-lo-Lose Healtli Pronioting Hoines, Functional Fitiiess, Take 5 appi'oach to iiiental health aiid
wellbeiiig, Streiigth and Balaiice, Fit to Br¢atlie aiid Diabetic Awareness raisiiig, Coucli-to-5k, Talking
Therapies (Mental Health), Health-wise providing access to gyin aiid specialist inslnictoi's. LORAG has
been able lo develop these pi'ogramin¢s by creating key parhierships within the liinei. South Neighboui'hood
Renewal Area and beyond wliich has secui'ed funding from the Public Health Agency(PHA) and Activ¢
Belfast,Bogside,and Brandywell Healtli Foruiii as lead partner lo National Lottery Coiiiiiiuniiy fund, Soutli
Belfast Health development ftind, and Jog Belfast. PHA also tunded a wellbeing programme for older
people, Ui'ban Villages funds suppoited Ihe delivci'y of a bespoke paddle sports training prograiJ)ine aiined at
d¢velopiiJg a local interest in paddle sports. These programm¢s have allowed LORAG to fi)rther develop on
key health improveiment programnies across a wide l'ange of ai'eas and to a wider l'ange of usei's leading to
better health outcoines for those iii greatest need.
Emotional Wellbeiiig is a key issue locally, LORAG has focused on pi'ovidiiig a diverse of early iiitervention
aiined at reducing the long-terin iiiipact ot" poor einotional and inental health on faiiiilies locally. In 2022123
LORAG laiinclied the areas first self-referral Talking Tlierapies Service, allowing for self-referral access to a
complementaiy thei.apy service delivered across the Inner South area with suppoit of Community Foundation
Mental Health Fund. Over 240 people locally have benefited from tliese l-l s¢i'vices tlie programine has also
growli capacity for building fil￿re programmes. This fits witli LORAG'S established GP talking Ihei'apy
services which ai"e funded thi.ough BHSCT.
BHSCT fund LORAG lo co-oi'dinate in the delivery of the South Oiie Fainily Support Hiib as pai1 of Ilie
overall Belfast Fainily Support Network. The Network lias available a small fuiid to support families with
issues Ihat are identified as gaps in service such as financial support througli voucliers, access to servic¢s
and unifonn suppoit.
The family support hub netwoi'k gathers referrals, connects senTices aiid evaluates ilie Family Support
services delivered and lh¢ effectiveness of tliese seivices for fainilies Ihroughout Belfast. The Netwoi'k is
now in its third yeai. aiid has gone froin sttrngth to sti'engih receiving 346 referrals from a bi'oad i?nge of
agencies and faiiiilies engagiiig 488 iiidividuals in a seivice. Faniilies referred have reported positive
oiitcoines with 850/0 completiiig the seivice pi'ovided. On¢ thii'd of the refeii?Is cam¢ froin families as
self-referrals which is a very eiicouraging statistic that evideiices a high level of coiifidence and support foi.
the services delivei'ed.
Funding was secured from BHSCT for delivery of a needs led Family Support service delivei'ing across the
widei. Soutli Belfast area. Siipport d¢livei'ed iiicluded 38 fainily support pi-ogi'ainin¢s, 52 play thei?py aiid
iiieiitoring progi?Iniiies that supported 52 childi'eii and their pareiits with key issues such as stress, a1￿Iety,
and woi'i'ies, 94.5 /ts of faiiiilies coinpleting progi-ainmcs noticed iniproved outconies in faniily relationships
and 91 % of children aged 5-1 l years completing tlie ineiitoi'liig prograiiiines i'epoit¢d iiiipi'oved levels of
confidence and self-esteem.
BHSCT funding suppoit for the broad tapestry of health initiativ¢s delivered by LORAG has beeii
invaluable. Capacity buildiiig has allowed Shaftesbury the Ceiitre to extend and sliai'e tlie reacli of sei-vices
beyond the local conimunity.
Capacity created has allowed LORAG lo further develop and has seeii LORAG broadeii our siippoit for Ihe
Healthy Living Alliance. LORAG on behalf of the Alliance lias co-oi'dinated the deliveiy of 46 regional
Belter Days Paiii Manageiiieiit pl'ogral￿lles throiigli SPPG coiiti'act, whicli siippoited the delivery of Chronic
pain services to 480 participaThts regionally and with 45 facilitators suppoi'ted in 29 Healthy Living cenlres.

Loiver Ormeau Residents Action Grou
ort of the Trustees
for the Year Ended 31 March 2023
Tli¢ Cr¢ating Cohesiv¢ Comiiiuiiity Good Relations project lias b¢¢n able to provide a diverse range of
prograiniiies siipport¢d by fuiiding fi-om The Executive Office (TEO)witli additioiial funding from Belfast
City Council through tlieir sniall grant's prograinines, IFA and NIHE. Ongoing funding has enabled LORAG
to woi'k witli key partners to deliver i-eal and ineaningful Good Relatioiis woi'k withiii Ihe Lower Oiineau,
Bolaiiic, Mai-ket, Doiiegall Pass and the wider South Belfast coinmunities, LORAG has coiJlinu¢d to niirture
a sense of beloiiging for everyone and slrengih¢n good i'elations tlii'oiigh variou5 Men's and Wonien's
prograiThiies and die deliveiy of Intercultural festival events, such as an Intercultural day in August, St
Patricks celebrations and the continued development of Christinas as a Winter F¢st. These events I festivals
have had in the region of 200-1000 people attend per eveiit.
LOKAG has soiight to sustain the Social Economy income geiierating eleinent wiihin Ilie oi'ganisation
Ihi-ougliout a veiy ¢hallengiiig pei'iod lo emerge from Covid pandemic into a cost-of-living crisis that has
d¢liv¢red unprecedented programmc. Running costs and salary increas¢s lias placed a huge bui'deii for
seivices already linder pressiire. Shaftesbuiy Coiillnunity & Re¢reatioii Centre contiiiues to opeii Monday to
Sunday covering 96+ openiiig hours per week, 360 days per yeai. with an average daily footfall of 800 people
per day, this is tlie clearest and pui'est iiidicatioi) of LORAG'S comiiiitineiit on behalf of tlie coiiijnunity.
Althoiigh lower than pi'evious years, tliis footfall has allowed LORAG to maintaiii fiiiancial resources for tlie
r¢placeinent of equipinent, i'enewal of the pAtch caip¢t and Ilie continuation of sei'vice with a third of
LORAG staff cosls now inet fi'oin iiicome generated tlii'ough Social Econotiiy genei7ted iiicoine.
Belfast Ciiy Council reveiiu¢ gi'ant foi- the nianag¢inent of the Centre along with additional funds foi.
Capacity Building and a inyriad of simall pl'ograi￿lle ￿'antS has ineant tl)at LORAG have beeii able lo offer
soine support foi. oihcr sinaller organisations, sports clubs and fledgling groups seeking suppoit in the
deliveiy of their prograinmes, governaiice, and development.
Féile ila hAbhann was delivered for the fiftli year as a waterway celebration festival witli its key focus of
r¢imaging the river Lagan and ils Towpatli wilh 10,000 people attending the family festival event. Th¢
festival has been developed in paitnership with Feile an Phobail aiid a consoitia of South and East Belfast
partners. We aiin to build on the festival and its offering to the wider cominunity in tl)¢ years to ahead.
Financial Review of Year
The coiiipaiiy had iiet outgoing i'esoui-ces for the year of £17,516 (2022.. net incoming resources of £28,535),
whicli reflect¢d tlie completion of a nuLnbei' of projects during the year. Uni'estricted ￿ndS decreased by
£21,992, while restricted futids incirased by £4,476.
The chai-ity coiitii)ues to woi'k tirelessly to secui'e income from vat'ious soui'ces to finaiice its ongoing
activities with key stakeholders. Tlie iiiain soui'ce of funding are gi'aiits i'eceived froin vai'ious bodies as
disclosed in note 4 in the financial stateiiients.

Lower Ormeau Residents Action Grou
ort of the Trustees
for the Year Ended 31 March 2023
STRATEGIC REPORT
Financial revieiy
Reserves policy
Unresli'fficted fuiids al'e essentlcll to provide siifficieiit fuiids to cover any iitiforeseeii costs which Inay arise
and tultil tlie legal obligations of tli¢ Chai-ity if cui'rent levels of income ai-¢ not niaintained.
The irseives policy has been designed to recognise LORAG'S i'equirements for reserves considei-ing the Inain
risks to tlie organisation.
LORAG l)as established a policy whei'eby tlie uiireslricted funds not coinmitted
should equate to 6 months, total resolirces expended, uni'estrict¢d reseives have not reached that level. The
aiin is lo provide sufficiet)t funds to covei. any uiifores¢en costs wliich inay arise, recogiiise tlie volatile graiit
¢iivironm¢nt, rising rui]niiig costs as well as allowing for the paymenl of any liabilities which would arise
should the coinpany cease to operat¢. Any call upon the use of i-esei'ves will be at tlie appi'oval of Ihe
Executive Col￿nIttee which will exainiiie the rationale for doiiig so aiid agree ali ainoui)t where appropriate.
On 31 Mairh 2023, tlie level of fr¢¢ reserves"
excludiiig fixed assets, capital pi'operty purcliase was
£409,529 (2022 - £417,794) wlii¢li equates to less tlian 4 inonths, ¢xpenditure.
The trustees l)ave assessed th¢ inajoi. risks to which Ihe charity is exposed and al'e satisfied that sysleins are
in place to miligale exposui'e to tlie inajor i'isks.
Going concern
These fiiiancial stalein¢i)ts have beeii prepared on th¢ basis that Lower Oniieau Residetits Actioii Group will
contlnue to opei?le as a going concerji for the foreseeable futtire.
The board have liinding in place lo ineet running costs foi- tlie next twelv¢ tnonths. The board contiiiii¢
to review the financial positioii of Lower Orineau Resideiils Action Group on a r¢gular basis.
Lower Ornieau Resideiits Action Gi'oup al'e CUiT¢ntly and contiiiually assessing alteimalive fundiiig optioiis
and hope to continue charitable opei'alions in whalevei capacity deenied appi'opi'iale by tlie board, in line
with tl)e deed of tiijst and the chat'ity's aiins aiid objectives. Lowei. Ormeau Resideiils Action Group net
assets at 31 March 2023 were £578,528.
The fiiiaiicial slatements do not contaiii any adjuslmeiits that would aris¢ if the fiiiancial staleni¢nts were not
drawii up on a going concern basis. If required tli¢se adjustments would be inade to the balan¢¢ slieet of the
Charity lo iiicr¢ase or reduce the value of assets to their recoverable amount, to provide furtlier liabilities that
iiiay al'is¢ and to i'eclassify fixed ass¢ts and loiig tenn liabiliti¢s as current assets and liabilities.

Lower Ormeau Residents Aetlon Grou
Report of the Trustees
for tlie Year Ende
31 March 2023
STRATEGIC REPORT
Future plans
LORAG has coiitinued to woi"k on the John Murray Lockhouse project, the JM Lockl)ouse was purchased in
2017 aiid siiice this liine LORAG have coiiipl¢ted a business case to DFC and iii 2020121 liave a Good
Relations Business case appi-oved by Urban Villages / TEO. Key paitners and funders al'e on boai'd with the
project which aiins to develop a Healthy Living hub focused on emotioiial wellbciiig followiiig a cominuiiily
consultation. Tlie building will house a café opening on to the towpath, two lai-ge activlty rooms for
wellbeiiig activities, cookery space and a confei'ence rooin for groups to ineet and take parl iii progi'aiiiime
deliveiy and developmeiit. This will open out oiito a community garden and men's shed where horticulture
and boat building, watei'.spoits activities are to be based. LORAG lias fvrtliered OLir aiin lo develop onto tl)e
wat¢r and by pi'oviding a river access point for gi'oups to use on the West bank of the l'iver. Planning
pemiission lias been secured and build of th¢ community garden and shed element has commeiiced with
ointnilted fuiids of £350,000 foi. this eleiiieiit. Fiiiidiiig is in place for the wider developineiit with the aiin of
coinpletion foi. 2023/24.
LORAGS plans will be to adapt the organisatioiis deliveiy and services coiisideriiig oiigoing c05t of liviiig
crisis, risiiig energy costs, ovei'all ruiining costs. LORAG will endeavour iii the Lipcoiiiing year lo complete a
new 5-year action plan coiisidering tliese issues and the new JM Loclthouse development. To support us to
keep witliiii oiir sts?tegic aims of cominunity support aiid r¢geiieratlOLi and our curi'ent goal of access to Ilie
lowpatli and wat¢n&rays.
LORAG'S ainbition towai'ds improviiig coinmuiiity healtli aiid wellb¢iiig opportuiiities to the available blue
and gr¢¢n space on oui. doorstep place Ilie local comii)iinity and organisation in a unique strategic position lo
grow gi-ealer sustaiiiability for tlie aiins of the organisatioii, the towpatli, watenvay aiid lockliouse are an
exc¢ll¢nt coii]munity regeneration resource to iiiake this happen.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is conts'olled by its govei-ning dcicuinenl, a deed of trust, and constitLiles a liiiiiled company,
liii)ited by guai'antee, as defined by Ihe Conipanies Act 2006.
Governance of the Charity
Duriiig the period under review tlie directors met iiionthly.
Trusteesldirectoi's are appointed by noininations made in wriling by any existing director. At the General
Meeting nominaled dii'ectors al'e appointed by election,

Loiver Ormeau Residents Action Grou
ort of the Trustees
for the Year Ended
l March 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
Th¢ prinLiples of good governaiice are embedded witliiii all aspects of Lower Oiiiieau Residents Action
Gi'oup's operatlOLJS Witli Inaiiageineiit and staff beiiig keenly aware of the Boards respoiisibility of eiisuring
Iliat tlie oi'ganisation protects its¢lf from financial ¢XPOSLire and i'eputational daiiiage, A close woi'king
relationship is maintained between the Board aiid inanageiiient to eiisure that operalionally staff are aware of
th¢ standards i'equired of them by tlie Boai'd and tlie Boai'd are always in a position to provide guidance and
suppoit to inaiiageinent iii tlie discliarge of tlieii. diities. This two way r¢latioiiship is the key featLlI-¢ of Lower
Oiineau R¢sidents Action Group governance aiTangeineiils and is a key strength in the compaiiy.
A conscientious approach to ensuring thal contractual project r¢quiLein¢nts are acliieved has beei) Inaiiilained
at all times botli in the accounting pei-iod being i'epoited on and since Low¢i- Onn¢au Residents Action
Gi'oup's ¢stabEishm¢iit. Very tight fii)ancial controls oii expenditui'e and all finaiicial coininittnent5 are
niaiiitained at all times and pi'oject staft liave been Irained and liave become experieiiced in budgelaiy
coiilrols. lil both tliese areas ie Project delivery aiid finaiicial controls ni8iiagein¢nt all staff have established
clos¢ working relationships witli fundAng organisations to ensure all Iiiandatory standards are consislenlly
achieved. Board representatives also actively engage witli fundiiig bodies.
The Board, Inaiiageinent aiid staff are fully aware tliat the nature of the work iii whicli Lower Oinieau
Resid¢nls Action Gi'oup is involved can bring with il a high level of scrutiny to ¢nsure that all activities are
fully conipliant with funding i'equii'¢iiients and thei-¢t"oi-e, beyond repi'oach. The Boai-d of Low¢i' Ormeau
Residents Action Group is, Iherefoi'e, greatly reassured of the coinpaiiy's coinpliaiice with the highesl of
standards of governance on the basis Ihal all nioniloi-ing and evaluation of pi'oject deliveiy d¢monsti'al¢s
achieveineiit of all funders objectiiies and that funders, audits aiid voucliing of finaiicial expeiiditure aiid tlie
statutory audit confiiiii conipliaiic¢ widi both probity and regularity in tli¢ use of monies received.
EVENTS SINCETHE END OF THE YEAR
Infoimatioji i-elating to eveiits since tlie end of tlie yeai. is giveii in tlie i)otes to the fiiiancial 51atem¢nts.
TRUSTEES, RESPONSIBILITY STATEMENT
The t￿SteeS (who are also the dir¢¢toi's of Lowei. Oiineau Resideiils Action Gi'oup for the puiposes of
compaiiy law) air responsible for pi'epai'ing the Repoit of tl)e Trustees aiid tlie financial stateinents in
accordaiice witli applicable law and Uiiited Kingdoiii Accountiiig Staiidai'ds (Uiiited Kingdom Generally
Accepted Accounting Practic¢) iiicludiiig Financial Reporting Standai'd 102 Tlie Financial Reporting
Standard applicable in the UK aiid Republic of Ireland
Coinpany law i'equires the tiustees to pi'epai'e financial stateinents for eacli financial year whicl) give a true
aiid fail. view of the state of affairs of the charilable coiiipaiiy and of the iiicoining resources aiid application
of r¢soiirces, including the incoine and expenditure, of the charitable company foi- that period. In preparing
those financial slateinents, the trustees al'e i'equired to
select suitable accounting policies and then apply thein consistently.
observe the methods aiid principles in th¢ Charity SORP;
make jiidgeiiieiits and estiiiiales that are i'easonable and prudent;
state whether applicable accountiiig slaiidai-ds Iiave been followed, subject to any material departures
disclosed and explained in tlie financial stateinents;
prepai'e the fiiiancial sta¢¢ineiils oli the goiiig conceni basis unless it is inappi'opriate lo pr¢suine that the
charitable coinpany will continue in busii)¢ss.

Loiver Ormeau Residents Action Grou
ort of the Trustees
for the Year Ended 31 Mareh 2023
TRUSTEES, RESPONSIBILITY STATEMENT- continued
The trustees al'e responsible for keepiiig proper accoiinling i'ecords which disclose with reasonabl¢ accui?cy
at any tiine tlie fiiiancial position of tlie charilable conipany and to enable tliein to ensui'e that tlie finai)cial
slateiiieiits coi)Iply with tlie Coinpaiiies Act 2006. Tliey are also respoiisible foi. safegiiai'diiig the assets of
the cliai'itable coinpany and heiice foi. talcing i'easoiiable steps foi. lh¢ pi'evenlion and detection of fi'aud and
oilier iiTegularities.
In so far as ihe tnistees al'e aware:
there is no relevaiit audit iiiforjnation of which tlie cliaritable coinpany's auditors are uiiaware. and
the tnjstees hav¢ Éaken all steps that they ought to have taken to make themselv¢s aware of any rel¢vaiit
audit information and to establisli tliat the auditoi's are awai'¢ of tl)at infoi-niation.
AUDITORS
The aiiditors, Lyiin Di?ke & Co Ltd, will be pi'oposed for re-appointinent at the foitl)coiniiig Anniial General
Meeling.
Repoit of the truste¢s, incoipoi?ting a slrategic reporl, approved by ol'der of the board of tI￿steeS, as the
compatiy directoi's, on 5 December 2023 and sigiied oli tlie board's behalf by..
John GorLnley - TrLislee

ort of the Inde
endent Audltoi's to the Trustees and Members of
Lower Ormeau Residents Action Grou
Opinion
We liave audited tlie finaiicial statements of Lower Onneau Resideiits Action Group (the 'charitable
coinpany,) for the year ended 31 March 2023 wl)ich coniprise the Statement of Financial Activitics, Ilie
Statement of Financial Position, tlie Stateinent of Cash Flows and notes to the finaiicial statements, iiicluding
a summary of sigiiificaiit accounting policies. Tlie financial reporting framework that has been applied in
tlieii. pi'eparation is applicable law and United Kiiigdom Accounting Standai-ds (United Kiiigdoni Generally
Accepted Accounting Practice), incliidiiig Fiiiancial Reporliiig Standard 102 'The Fiiiancial Reporting
Staiidai'd applicable in the UK and Republic of Ii'eland,.
In oiir opinion tlie financial statements:
give a live aiid fair view of tlie slate of the charitable coinpaiiy's affairs as at 31 March 2023 and of ils
incoiiiing resouires and application of i'esources, iiicluding its income and expenditLire, for the year then
have been properly prepai-ed in accoi'dance witli Unit¢d Kingdoin G¢n¢i'ally Accepted Accounting
Pi-actice, including Financial Reporting Standai'd 102 'Th¢ Fiiiancial Reporting Standard applicable in the
UK aiid Republic of Irelaiid aiid
liave been pi'epai'ed iii accoi'dance witli tlie requireinents of Ihe Companies Act 2006.
Basis for opinion
We ¢oiiducted our audit in accoi-daiice with Inteinatioiial Standards oil Auditi)Ig (UK) {ISAs (UK)) aiid
applicable law. Our i'esponsibililies under thos¢ standards are fuither described in the Auditors,
responsibilities for tlie audit of tlie finaiicial stateinents section of our repott. We are iiidepeiident of tlie
cliarit1c ble company in accoi'dance with the ¢thieal requii'einents that are i-elevaiit lo our audit of the financial
stateinents in the UK, including the FRC'S Ethical Standai'd, and we have fulfill¢d oui- other ethical
i-esponsibilities iii accordance with these requireineiits. We believe that the audit evideiice we Iiave obtained
is sul'ficieiit and appropi'iate to provide a basis foi- our opinion.
Conclusions relating to going concern
lil aiiditing tlie financial statemeiits, we Iiave concluded that the tnistees, use of ihe going concern basis of
accouiiting in the pi'eparalion of the financial statements is appropriate.
Based on the work we have perforined, we have not identified any iiiaterial unceitainties relating to events or
condilions that, individually oi- collectively, Inay cast significani doiibt on tlie chai'itable company's ability to
coiiliiiue as a going conceni for a period of at least twelve inonths fi'oin when the finaiicial stalemeiils are
autl)orised foi- issue.
Our responsibilities and tlie responsibAlities of the trustees witli respect to going concern are described in the
relevant sections of tliis report.
Other information
Tlie ttuste¢s are respoiisible foi. the oilier inforlnatioti. The odiei. infonnatioii compi-ises the infonnatioii
included iii the Annual R¢poit, other than the financial stateinents and oui. Repoit of lh¢ Independent
Auditors Ihereoii.
Our opinioii on the fiiiancial slatciiients doe5 not cover the otlier informatioii and, except to tlie extent
othenvis¢ explicitly stated in oui. repoit, we do not express any f01111 of assurance conclusion thereon.
In comiection witli our audit of the financial stateillents, our responsibility is to irad the other iiiformation
and, iii doing so, considei. whether the other inforiiiatioii is iiiatei-ially inconsistent ivith the financial
slateineiits or our luiowledge obtaiiied iii the audit or otherwise appears to be inate17811y iiiisstated. If we
identify such Iiiaterial iiiconsistencies or appai'eiit iiiat¢rial iiiisstateiiients, we al'e requii'ed to delei'iniiie
wliether Iliis gives rise to a Inatei'ial inisslatemeiit in tlie finaiicial stateinents theiiiselves. If, based oil tlie
work we have perfoiiiied, we coiiclude that tliere is a inatei'ial inlsslatement of thAs otlier inforniation, w¢ are
required to i'eport tliat fact. W¢ liave iiotliing to report in this regard.
io

)ort of the Inde
endent Auditors to the Trustees and Members of
Loiver Ormeau Resid nts Action Grou _
Opinions on otlier matters prescribed by the Companies Act 2006
In our opinion, based on the woik undei'taken in tlie coiirse of th¢ audit..
the information given in the Report of the Triistees foi. tlie financial year for which the financial
stat¢meiits are prepar¢d is coiisistent wilh the financial slat¢ments' and
the Report of tlie Tivstees has been pi'epared in accoi'danc¢ witli applicable legal requiretn¢nls.
Matters on iyhich ive are required to report by exception
In the light of the kniowl¢dge and uiideystandiiig of the chai'ilable compaiiy and its enviroiiin¢nt obtaiiied in
the course ot Ihe audit, we liave not identified iiialerial Lnisstat¢inents in tlie Report of tlie Trust¢es.
We have nothing to report in respect of the following matters where the Companies Act 2006 I'equires us to
report to you if, iii our opinion..
adequal¢ accounting records Iiav¢ not been kept or i'etunis adequat¢ foi. our audit Iiave not been received
fi'ojii branclies not visited by us. or
the fiiiaiicial statenieiits are not iii agreetnent with the accoiiiitiiig recoi'ds and reNnis' or
cerlain disclosuies of tiiistees, r¢ii)iineratioii specified by law are not made. oi.
we liave not i'eceived all the iiiforniation and explanations we requii'e foi. our audit.
Responsibilitie5 of trustees
As explained niore ￿llY in tlie Trustees, Responsibilities Statement, the trustees (who are also the directors
of the charitable coinpaiiy for tlie puyposes of company law) are responsible for the preparation of tlie
financial statements aiid for being satisfied that they giv¢ a true and fair view, and foi. such iiiteLnal control
as tlie tiustees deteiiiiine is necessaiy to enable the pi-epai?tion of financial staleinents tliat al'e fr¢¢ from
iiiaterial misstateinent, wlieth¢r due to fraud or eiTOr.
In prepariiig the financial slateinents, the trustees are responsible for assessing the cliai'itable coinpaiiy's
ability to continiie as a going coiicei'n, disclosing, as applicable, iiiatters i-elated to goiiig concei-n and using
tlie going eoncein basis of accounting unless the Iruslees ¢itlier intend to liquidate tlie cliaritable company or
to cease operations, or have no realistic alternativ¢ but lo do so.

oi't of the Inde
endent Auditors to the Trustees aiid Menibers of
Lower Ormeau Residents Action Grou
Our responsibilities for the audit of the finaiicial statements
Our objectives are to obtaiii reasonable assurance about wlietlier th¢ financial stateiiients as a whol¢ are free
from inaterial misstateinent, whetlier due to fraud or ¢rror, aiid to issue a Report of the Independeiit Auditors
that includes our opinioii. Reasonable assurance is a higli level of assurance, but is not a guarantee that an
audit conducted in accoi'dance with ISAS (UK) will always detect a tnaterial Inisstatement when it exists.
Misstateineiits cali arise froin fraud or error aiid al'e coiisidei'ed inatei'ial if, iiidividually or in the aggi'egat¢,
they could reasonably be expected to influence the econoiiiic decisions of users taken on tlie basis of th¢s¢
finai)cial slaleinents.
The extent to wliich our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregulai-ities, including fraud, al'e iiistances of non-coinpliaiice witli laws and regulations. We de,sign
procedures in line witli our r¢spoiisibilities, outlined above. to detect inaterial misstateinents in respect of
irregulai'ities, including fi'aud. The extent to which our procedui'es al'e capable of detectiiig irregulaTities,
including fraiid is detailed below..
Based on our iinderstanding of tlie conipany aiid iiidustry, we identified the pi-iiicipal risks of
non-conipliance willi laws aiid regulations as tlios¢ that have a direcl iinpact on the deterinination of material
ainounts and disclosures in the financial stateinen¢s.
W¢ evaluated maiiageinent's incentives ai)d oppoitLinities for frauduleTht inanipulation of tlie financial
statements and deteimined that the pi'incipal risks related to i'evenii¢ iecognition. We communicated the
identitied laws aiid regulations tliroiighoiit the audit teaiii and i'emained aleit to any indications of
iion-coinpliance throughout the audit. Audit procedures perfonned included, but were not liiiiited to:
Discussions wilh management including consideration of knowii or suspected inslances of
noii-coinpliance witli laws and regulatioii and fraud.
Reviewing the financial statement disclosures and testing to suppoiting documentation.
Review of boai'd iiieetiiig ininutes of those charged witli govcniance.
lil addressing the risk of fraud throiigh maiiagement overide of coiitrols, testiiig the appropriateiiess of
jounial enti-ies and other adjiistments.
As pait of ali audit in accoi-dance with ISAS (UIC), we exei'cise pi'ofessional judginent and niaintain
pi'ofessional scepticism tliroughout the audit. We also:.
Identify and assess the i'isks of niaterial misstateiiient of the financial statements, whetlier due to fraud or
error, desi￿1 aiid perfonii audit pi'ocedui'es respotisive to those risks, aiid obtaiii audit evidence that is
sufficienl aiid appropi-iate to pi'ovide a basis for our opinion.
The risk of noi detecting a niaterial
niisslateineiit i'esulling fi'oin fraud is highei- than for one resultiiig froin eri'oi., as fi'aud inay iiivolve colliision,
forgery, intentional oiiiissions, Inisrepresentatioiis, oi- the oven-ide of inl¢i-nal conti-ol.
Obtain an understanding of internal control i'elevant to the audit An ordei. to d¢sign audit procedui'es tljat are
appropi'iate iii the circumslances, but not for the purpose of expressing ali opinion oli tlie effecliveiiess of tlie
chai'ities iiitemal control.
Evaluate the appropriateness of accouiiling policies used and th¢ reasonableiiess of accoiiiititig estiiiiates aiid
related disclosui'es Inade by the Iriistees.
Perforiii analytical pi-ocedures to ideiilify any uniisual or unexpected relationships Ihat may indicate risks of
iiiatei'ial inisstateineiii due to fi'aud oi. ei-ror.
12

ort of the Inde
endent Auditors to the Trustees and Members of
Loiver Ormeau Residents Action Grou
Coiiclude oil the appropriatei)ess of the ￿lSteeS, Iise of tl)e going conceiii basis of accounting and based on
the audit evidence obtained, wlieth¢r a iiiaterial uncertainty exists related to events or condilioiis that niay
cast significant doubt oli the charities ability to coiitinue as a going concern. If we coiiclude that a Inaterial
unceitainty exists, we are i'equii'ed lo draw alteiition in our auditor's report to tlie iElalcd disclosures iii tlie
financial slatemenls oi-, if such disclosures ai-¢ inadequate, to niodify our opinioii. Oui- conclusions are based
oij tlie aiidit evidence obtaiiied up to tlie date of our auditor's r¢poit. However, futui-e events oi. conditions
Inay caus¢ the charity to cease to continue as a going concei'n.
Evaluate Ilie overall preseiitalion, structure, and content of the finaiicial statements, including tlie disclosures
and whetlier Ilie fitiancial stateinents i'eprescnt tlie underlying transactions and events in a inanner that
achieves fair presentation.
We coiiimunicate with those charge with governance regarding, among other inatters. the planned scope and
tiniing of tlie audit and significant aLidit findings, including significant deficiencies in internal conti'ol that
we ideiitify during oui- audit.
A ￿TtI]er description of OUT responsibilities for the audit of the financial slateinents is located on tlie
Financial Repoiting Council's website at www.frc.org.uldaiiditoisresponsibilili¢s. This description fonns
part of oui- Report of tlie Ind¢pendeiit Auditors.
Use of our report
This report is inade sol¢ly to tlie charitable company's members, as a body. in accordance with Cliapt¢r 3 of
Pait 16 of the Companies Act 2006. Oui- audit woi'k has been undeitaken so tliat we tniglil state to the
charitable cotiipany's ineinbers those matters we are required lo slate to thein in ali auditors, i'eport and foi. no
otlier purpose. To the fullest extent pei'iJilted by law, w¢ do nol accept or assuine r¢sponsibility to anyone
other th li Ilie chai'itable coinpaiiy and the cliaritable compaiiy's members as a body, for oui. aiidit work, for
Ihis r¢p
t, or for tlie opiiiions we have fonned.
Billy Di-ak
enior Statuloiy Auditoi.)
for and on be
If of Lyiin Drake & Co Ltd
Slatutoiy Auditoi's
1st Flooi.
34 B-D Main Street
Moira
Co. Arn]agh
BT67 OLE
5 December 2023
13

Loiver Ormeau Residents Aetlon Grou
Statement of Finaneial Activities
Incor
oratin
an Jncome and Ex
for tlie Year nded 31 March 2023
enditiire Account
31.3.23
Total
funds
31.3.22
Tolal
funds
Unrestricted Restricted
funds
fuiids
Notes
INCOME AND ENDOWMENTS FROM
Doiiations aiid legacies
307
307
1,016
Charitable activities
Grants Receivable
10.000
947,716
957,716
870,005
Earned ItLcome
158,274
158,274
159,783
Total
168,581
947,716
1,116,297
1,030,804
EXPENDITURE ON
Charitable aetivities
Direct Charitable Expenditui'e
Governance
168,490
22,083
943,240
1,111,730
22,083
984,044
18,225
Total
190,573
943,240
1,133,813
1,002,269
NET INCOMEI(EXPENDITURE)
{21,992)
4,476
(17,516)
28,535
RECONCILIATION OF FUNDS
Total funds bi'oughi forward
593,000
3.044
596,044
567,509
TOTAL FUNDS CARRIED FORWARD
571,008
7,520
578,528
596,044
Tlie notes foiin parl of these fiiiancial statements
14

Lower Ormeau Residents Action Grou
Statemeiit of Finajicial Position
31 March 202
31.3.23
31.3.22
Notes
FIXED ASSETS
Tangible assets
185,954
207,177
CURRENT ASSETS
Debtors
Casli at bank
12
133,372
310,346
93,763
438,523
443,718
532,286
CREDITORS
Ainounts falling due witliin one year
13
(51.144)
{143,419)
NET CURRENT ASSETS
392,574
388,867
TOTAL ASSETS LESS CURRENT
LIABILITIES
578,528
596,044
NET ASSETS
578,528
596,044
FUNDS
Uiii-esti'icted funds
Restricted ftiiids
15
571,008
7,520
593,000
3,044
TOTAL FUNDS
578,528
596,044
The financial slateinents were appi'oved by th¢ Board of Tivst¢es and authorised for issue on
5 December 2023 and wei-e sign¢d oil its behalf by..
John Goniil¢y - TrLlStee
Marie Ciqvanagli - Trust¢¢
The notes fonn pai't of these finaiicial stateiiients
l5

Lower Ormeau Residents Action Grou
Statemei)t of Cash Floivs
for the Year Ended 31 March 2023
31.3.23
31.3.22
Notes
Cash floivs from operating activities
Casli generated froin opei'atioiis
(127,004)
135,007
Net cash (used in)Iprovided by operating aclivities
(127,004)
135,007
Cash floivs from Investing activities
Purchase of tangible fixed assets
(1,173)
(53,144)
Net casli used in investing activities
(1,173)
{53,144)
Change in cash and cash equivalents
in the reportlDg period
Cash and cash equivalents at the
begiiiDing of the reporting period
(128,177)
81,863
438.523
356,660
Cash and cash equivalents at the end
of the reporting period
310,346
438,523
Tlie notes fonn pait of tliese financial stateinents
16

Lower Ormeau Residents Action Grou
Notes to the Statement of Cash Floivs
for th Year Ended 31 March 2023
RECONCILIATION OF NET {EXPENDITURE)IINCOME TO NET CASH FLOW FROM
OPERATING ACTIVITIES
31.3.23
31.3.22
Net (expenditure}lineome for tlie reportlng period (as per the
Statement of Financial Activities)
Adjustments for:
Depi'ecialion chai'ges
(Inci'ease)Idecrease in debtoi-s
(Decrease)/increase in Ci'editors
(17,516)
28,535
22,396
(39,609)
{92,275)
26,996
6,838
72,638
Net cash (used fin)Iprovided by operations
(127,004)
135,007
ANALYSIS OF CHANGES IN IYET FUNDS
At 114122
Cash flow
Al 3113123
Net eash
Cash at bank
438,523
(128.177)
310,346
438,523
(128,177)
310,346
Total
438,523
{128,177)
310,346
Tlie notes fonii part of tliese fiiiancial staleinents
17

Loiver
rmeau Residents Action Grou
Notes to the Fiiiancial Statements
for the Year Ended 31 March 2023
ACCOUNTING POLICIES
Summary of significant accounting policies
(a) General information and basis of preparation
Lower Oriii¢au Residents Action Gi'oup is constituted as a company liinited by guai'anlee incoiyorated
iii Norihem Ii'eland (N1037894). Iii the eveiit of the charity being woiild up, the liability in respect of
the guai'antee is limited to £1 per ftneinber ot. the chai'ily.
The charity constitutes a public benefit entity as defined by FRS 102. Tlie financial statenients have
been pi'epai-ed iii accoi'dance with Accounting and Reporting by Charities..
Statenient of
Recommended Practice applicable to charities preparing Iheir accounts in accordance with th¢
Financial Reporting Standai'd applicable in the UK and Republic of Ireland {FRS 102), the Financial
Reporting Slaiidard applicable in the Uiiited Kingdoiii aiid Republic of Irelaiid (FRS 102}, the
Charities Act (Noitliei'n li'eland) 2013, the Coinpanies Act 2006 and UK Generally Accepted Practice
as it applies fioin l January 2015.
The financial statenients are pi'epared on a going coiicern basis undei. the liistorical cost coiivention,
modificd to include certain items at fail valiie. Tlie fiiiancial stateinents are presented in slerliiig
whicli is the functional cuii'eiicy of the charity..
The significant accoiinting policies applied in the pi'¢paration of these financial statem¢nts are set out
below. Thes¢ policies have been consistently applied to all years presented iinless otherwise stated.
(b) Funds
Unrestricled funds are available for use at the discretion of lh¢ trustees iii furtherance of Ilie geiieral
objectives of the chai'ity and which have not been designated for other puiposes.
Designated fuiids coinprise iinrestricled funds that hav¢ been set aside by the tI￿SteeS for paiticular
puiposes. Th¢ aim and iise of eacli designated fund is set out in th¢ notes to the financial statements.
Restricted fuiids are ￿ndS which are to be used in accordanc¢ with specific i-esti'ictions iinposed by
donors or whicli have been raised by the charity foi. paiticiilai. putyoses. Tlie cost of raising and
admiiiistei'ing such ￿1]dS are chai'ged against tlie specific fund. The aiiii and use of each restricted
fuiid is set out iii the i)otes to th¢ financial statements.
Fiiither explaiiatioii of the nature and pui-pose of eacli fLind is included in the notes to tlie financial
stateiiieiils.
(c) Income recognition
All incoining resources ar¢ iiicluded in tlie Statein¢nt of Financial Activities (SOFA) wlien the cliai'ity
is legally entitled to the incoine aftei. any pei'fonnance conditioi)s Iiave been met, the ainouiit can be
measured i'eliably aiid it is pi'obable thal the income will be received.
18
contiiiued...

Lower Ormeau Residents Action Grou
Notes to the Fiiiancial Statements - contiiiued
for the Year Ended 31 Mareh 2023
ACCOUNTING POLICIES - continued
Summary of sigiiificant accounting policies
For donations to be i-ecogiiised lh¢ charity will have been notifi¢d of the amouiits and the s¢ttleinenl
dale in writing. If there al'e conditions altached to tlie doi)atioii aiid tliis requires a level of
pei'foi'iiianc¢ befoi-e entitlement can be obtained tl)en iiicomc is defeii-ed until those conditioiis al'e
fiilly inet oi. the fulfiliiieiit of those coiiditions is withiii the coiiti'ol of the chai'ity aiid it is probable
tliat tl)¢y will be fulfilled. Voluntary incoine is r¢c¢ived by way of gillnls, donatioiis and gifts aiid is
included in full iii the Statement of Financial Activities (SOFA) wheii receivable. Lncoi)ie received
from collections is recognised when received.
Donated facilities and donated professional services ar¢ recognised in income at Iheir fair value when
tli¢ii' econoiiiic benefit is probable, it can be iiieasui'ed reliably, and Ilie charity lias control ovei. the
item. Fair valiie is deteniiiiied on the basis of th¢ value of the gift to the charity. Foi- exaniple, the
aniount the cliai-ity woiild be williiig to pay in the open Inarket for sucli facilities and services. A
correspoiiding amouiit is i'ecogiiised in expeiiditure.
No aniount is iiicluded in the finaiicial stateinents foi. volunteer tinie in line willi tlie SORP (FRS 102).
Furthei. detail is given in tlie Trustces, Aniiiial Report.
For lcgacies, entitleinent is the earli¢i' of the charity being notifi¢d of an impeiiding distribution or the
legacy being received. At tliis point incoine is recogiiised. On occasion legacies will be notified to the
charity howevei. it As not possible to ineasure the aiiiouiit expected to be distributed. On these
occasions, the legacy is ti-eated as a contingent asset and disclosed.
Income from ¢arned income includes incoine eam¢d from ￿1]draISing events and earned iiicome
activities to raise funds foi. Ihe chai'ity. Incotn¢ is received in exchange for supplyii)g goods and
seivices in order to raise fuiids and is recognised when entitlement has occurr¢d.
Tlie charity receives goveriiiiieiit grants whlcli are detailed witliin the notes to these financial
stat¢inents. Incoii)e li-oni governirjent and otliei. gi'ants al'e recognised at fair value when tlie charity
has eiititleineiit after aiiy pei'foiiiiance coiiditions hav¢ beeii in¢t, it is probable that the iiicome will be
received, and the amount can be nieasui'ed i'eliably. If entitlement is not met, then these amounts are
defeiTed.
(D) Expeiiditure recogiiition
All expeiiditui'e is accounted for oil an acci'uals basis incliisive of VAT wliicli cannot be recovered
and has beeii classified under Iieaditigs that aggregate all costs related to the category. Expeiiditure is
recognised whei-e there is a legal or constructive obligalion to make payinents to thii'd paities, it is
probabl¢ Iliat Ihe settleiiieiit will be required, aiid the ainouiit of the obligalion cali be ineasured
reliably. It is categorised iiiider tl)e following Iieadings=
Costs of raising ￿ndS includes the cosls associated with allracling volunlaiy incomes.
Expenditui'e on charitable activities includes those costs incuii'ed by Ilie charity il) tlie delivery of its
activities and seivices foi. its beneficiaries. 11 iiicludes botli costs that can be allocaled directly to sucli
activities aiid Iliose costs of an indii-ect natui'e necessaiy to SlLPPOlt tliem- and
Othei. cxpeiiditure represeiits those iteiiis iiot falling iiito the categori¢s above.
IITecoverabl¢ VAT is cliai'ged as an exp¢iise agaiiist the activity for wliich ¢xpeiiditui-e ai'ose.
19
coiitiiiued...

Loiver Ormeau Residents Action Grou
Notes to the Fiiiaiicial Statements - continued
ror the Year En
ed 31 March 202
ACCOUNTING POLICIES- continued
Summary of signiticant accounting policies
Gi'aiits payable lo tliii-d pai'ties al'e within the cliaritable objeclives. Where unconditional grants are
offei'ed, tliis is accrued as soon as the recipient is iiotified of the grant, as this gives rise to a
i'easonable expectation that the i'ecipient will receive the grants. Wli¢i'e gi?nls are conditional relating
to perforinance Iheii th¢ grant is only accnied whei) any unfijlfilled conditioiis are outside of the
control of tlie chai'ity.
(e) Siipport costs allocation
Suppoit costs are those (hat assist the woi'k of the cliarity bul do not directly represent charitabl¢
activities and include office costs, governaiice costs, adininistrative payroll costs. They are incurred
direcily iii support of expenditure oil the objects of the charity atid incliide project inanagenieiit
carried out at Headqiiaiters. Whei'e suppoirt cosls caniiot be directly altributed to particular headings
they have been allocated to cost of raising fiinds aiid expeiidittii'e on cliai'itable activities oli a basis
consistent with use of tlie resources. Preinis¢s overh¢ads hav¢ beeii allocated on an insei'l detail basi5
and otliei- overlieads have been allocated oli a basis consistent with th¢ use of resources.
Fund-raising costs are those incLirred in seeking voluntary contributions and do not include the costs
of disseminatiiig informatioii in support of tli¢ charitable activities.
(fj Tangible fixed assets
Taiigibl¢ fixed assets arc stated at cost less accumulated depreciation aiid accumulated itnpairment
losses. Cost iiicludes costs directly attributable to making th¢ asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less
estiiiiated residual value, of each asset on a systeinatic basis over its expected useful life as follows..
Land & Buildings
40/0 Slraiglit line
Fixtures aiid fittings 250/0 R¢ducing Balaiic¢
Coniputei- Equipment 25U/o Reducing Balance
Motor Vehicles
25 /0 Reducing Balance
Spoits Pi-oject
25 /, Reducing Balance
(g) Financial Instruments
A financial asset or a fiiiancial liability is recognised only wheti the chaiity becoines a pai'ty to the
onti'actual provision of the inslruin¢nt.
Basic finaiicial instiuiiients air initially t'¢cogi)ised al Ilie amounts i'eceivable or payable incliiding any
i'elated ti'ansactioii costs.
Current assets and curreiit liabilities are subsequeiiily ineasiired at tlie cash or otlier consideralion
expected to be paid or relived aiid noi discounted.
Debi instruiiieiits are siibsequeiitly ineasiii'ed al amoi-lised cost.
20
contiiiued...

Lower Ormeau Residents Action Grou
Notes to the Fiiiaiicial Statements - continued
for the Year Ended 31 March 2023
ACCOUNTING POLICIES - continued
Summary of significant accounting policies
Whei'e investiiients in shares are publicly ti-aded oi- their fair value can oihenvise be measui-ed
reliably, tlie investinent is subscqueiitly ineasiired at fair valiie with cliaiiges iii fail. value recogiiised
in income and expenditui'e. All other sucl) inv¢stiiients are siibsequenily iiieasured at cost less
impainiient.
Other financial insttiiiiients, including derivatives, ar¢ initially recognised at fair value, uiiless
payinent foi. an asset is defei'red beyond noiinal business teiins or financed at a rale of interest tliat LS
not a inai'ket rate, iii which case the asset is measured at tli¢ preseiit value of the future payinenls
discounted at a mai'ket rate of iiit¢r¢st for a similar debt insti'uinent.
Other finaiicial iiistrutiients ai'¢ siibsequeiitly ineasured at fair value with aiiy chaiiges i-ecogtiised in
the statement of financial activities, witli the exception of hedgiiig inslruinents in a designed hedging
relati01￿111p.
Fiiiaiicial assets that al'e measured al cost or amortised cost air reviewed for objective evidence of
inipaimient at the end of each repoi'ling date, if there is objective evidenc¢ of inipaiiment ali
iinpainneiit Ioss is recogiiised undei. the appropi-iate headiiig in the stateinent of financial acliviti¢s in
whicli the initial gain is iecognised.
For all eqiiity instruineiits regardless of Signific￿]Ce, and other financial assets that are individually
significant, these are assessed individually for impairinent. Other finaiicial assets ar¢ either assessed
individually or gi'ouped on tlie basis of siinilar ci'edit risk characteristics.
Any reversals of iinpainnent al'e recogiiised immediately, to the exteiit Iliat tlie i-eversal does not result
in a canying amourAt of the financial asset iliat exceeds what the canying amount would hav¢ been
liad the impaii'iiient not previously been recognised.
(h) Impairment
Assets not Ineasured al t.air valiie al'e reviewed foi- any indication that tlie asset may be impaii'ed al
eacli balance sheet date. If such indicalioii exists, tlie recovei'able amouiit of tlie asset, or the asset's
cash geneL'atiiig unit, is estiiiiated and coiiipared to tlie carryiLig ainount. Wliere the carrying amoiint
exceeds its recoverable amouiit, an iinpairmeiit loss is i'ecognised in profit oi. loss unless Ilie asset is
caNied at a revalued amount whel'¢ the impairmeni loss is a revaluation decrease.
(i) Provisions
Pi'ovisioi)s al'e recogiiised wheii the charity has ai) obligatioi) at the balance sheet dale as a resiili of a
past event, it is pi'obabl¢ that ali outtlow of ecoiioinic ben¢fits will be i-equired in seiileinent and Ilie
aimount cali be reliably estiinated.
(J) Leases
Assets acquii'ed undey finance leases are capilalised and depreciated over the slioitey of the lease terni
and the expected usefiil life of the asset. Miniii)iiiii lease payftneiits are apporlkoned belwe¢n the
tinance charg¢ and the i'edLiclion of tl)¢ outstandiiig lease liability using tlie effective iiiterest Inethod.
The related obligations, iiet of futui'e finance charges, are included iii ci-edilors.
21
coiitiiiiied.

Lower Ormeau ResAdents Action Grou
Notes to the Financial Statenients- continued
for the Year Ended 31 March 2023
ACCOUNTING POLICIES - continued
Summary of sigiiifieant accounting policies
Rentals payable and receivable under opei'ating l¢ases ai-¢ chai'ged to the SOFA on a stt?ight line basis
over the period of tlie lease.
(k) Tax
No provisioii is required for taxation as the coinpaiiy is defiiied as a charity for taxation pu￿Oses.
The charity is a registered charity aiid so such As entitled to certain tax exeinptions on incoine and
profits froiii ii)vestinents ai)d sui-pluses oli any earned iiicoine activities carried on iii furtheraiice of
the chai'ity's primaiy objectives, if tliese profits and surpluses are applied solely for charitable
purposes.
(l) Going concern
The fiiiancial stateinents have been pi'epared on a going concern basis as the Iriistees believe Iliat no
Inaterial unceitainties exist. The trustees have considei'ed tlie level of fiinds held and the expected
level of income aiid exp¢nditur¢ for 12 months from authorising these financial statements. The
budgeted incoine and exp¢nditure is sufficient with tlie level of i-eserves foi. the cliarity to be able lo
continue as a going concern.
(m) Judgemeiits estiniates
Tlie followiiig judgements includiiig those involving eslitnates tlial have been niade in ihe process of
applying the above accounting policies tliat have had the most signfiticant effect on tlie amounts
recogiiised iii the fiiiaiicial stateiiients aiid tl)at l)ave a significaiit risk of causing a material adjustiiient
to the cariying amounts of assets and liabilities within the n¢xt financial yeai.:
(i) depreciation Iiiethod and asset useful lives
(li) plincipal assuiiiptions used to measure miilti-employei. defined benefit pension scliemes,
liabilkties, sensitivities to changes in assuinplioiis and Futur¢ funding obligatLOI)S
The estiiiiates aiid assuinptioiis are reviewed on an ongoiiig basis coiisidering tlie current and futur¢
Inarket conditions.
Pension costs and othcr post-retirenient benefits
Tlie charitable coiiipany opei'ates a defiiied ¢ontribiitioii peiision scheme. Coiilributions payable to
tlie charitabl¢ coiiipany's pensioii sclieiiie are charged lo the Slateiiieiit of Fiiiancial Activities iii tlie
period to which they relate.
Ineome
All income is recognised in Ilie Stateinent of Finajicial Aclivities once the cliarity has eiitilleinent to
the ftinds, it is probable that tli¢ iilCOiTJ¢ will b¢ received and the amouiit can b¢ ineasiired i-eliably.
Expeiiditure
Liabilities are iecogiiised as expenditui'e as soon as tl)ere is a legal or constructiv¢ obligation
colmiiiitting tlie chai'ity to that expenditure, it is pi-obable that a Iraiisfer of econoinic beiiefits will be
requii'ed in settleiiienl and the aniounl of the obligation can be ineasured i-eliably. Expeiiditure is
accouiited foi. oli an accruals basis aiid has beeii cla.ssified uiider headiiigs tliat aggregate all cost
related to tlie category. Wliere costs caimot be dii-ectly alli'ibuted to pailicular headliigs they have
been allocated to activities on a basis coiisisteiit witli tlie use of resources.
22
contiiiued...

Loiver Ormeau Residents Action Grou
Noles to the Financial Statenients- continued
for the Year Ended 31 March 2023
ACCOUNTING POLICIES - continued
Share capital
Tlie Coiiipany in Limited by Guarantee and lias no Share Capital
Fiind accounting
The Chai'ily has vai'ious types of fijnds for which il is responsible, aiid which requir¢ separate
disclosure. These are as follows.,
(i) Restricted Fuiids
Gi-aiits or donatlons received, which are eannai'ked by the donor for specific purposes within the
overall aims of the organisation.
(li) U]￿estriCted Funds
Fiinds which are expendable at the disci'etion of tlie Diirctoi's in fuithei?nce of Ili¢ objects of Ihc
charity. Such funds inay be lield iii order to fiiiance capital inveslineiit aiid working capital
DONATIONS AND LEGACIES
31.3.23
31.3.22
Donations & Fundi'aising
307
1,016
EARNED INCOME
31.3.23
31.3.22
Project Entry Fees
Di-ink Sales Commissioii
Dance Studio
Gyiii
3G Pitch
Main Hall
Conti?cted Income
CIU Building Relit
Rent 13R River Ten'ac¢
St Malachys Playgroup
Management Fees
Co-operation Ireland
Todds Leap
4,384
2,416
8,580
50,435
46,721
14,566
1,657
878
9,095
47,033
46,530
16,527
18,507
i 0,000
6,921
2,635
6,250
5,400
4,664
6,044
6,000
2,814
158,274
159,783
23
contitiued...

Lower Ormeau Residents Action Grou
Notes to the Fiiianci81 Staten)ents - continued
f r the Year Ended 31 March 202
1Tr4COME FROM CHARITABLE ACTIVITIES
31.3.23
31.3.22
Activily
Grants Receivable
Grants
957.716
870,005
Grants received, included in the above, are as follows..
31.3.23
31.3.22
Belfast City Council - Revenue
BHSCT
Public Health Agency
Early Years - Pathway fiind
Coiiiniunity Foundation Nl
Nl Housing Execiitive - Gene131
Co-operatioii Irelaiid
Activ¢ Belfast
Belfast City Coiincil - Small Pi'ojects
Belfast City Council - (Capacity Build)
Belfast City Couiicil - Biisiiiess Cluster
Belfast City Council - Good Relalioi)s
Departin¢nt of Coniiniiiiities (DFC)
The Executive Office - TEO
Education Auihoi'ity - Belfast Region
Belfast City Couiicil - Su)nmei' Sclieme
Jog Belfast
Bogside and Brandywell Health Foniin
Albert Street Covid Prograinme
Forwai"d South Dev. Funds
Feile An Phobail
Belfast City Coiincil - Covid Podiuin 4 Spoits
Claiiiiiill Housing for Health
Ci'eggan Healtlily Liviiig (WWC)
Belfast City Coiincil - Covid 19
HMRC - CJRS (Salai'ies)
Belfast City Couiicil (Coiii Kitchen Equipnient)
Belfast City Council - {Mediutn)
Belfast City Council - (Mens Futui'e D¢v.Programiiie)
Belfast City Coiiiicil - (Africa Cup)
PLiblic Health Agency - H¢althwise
Public Healih Agency - Wellbeing Prograinme
UrbaIi Villages
Healtliy Living Alliance (Pain)
IFA
Bi'itisli Red Cross
Coriyineela Project
Queens Uiiivei'sity
Belfast City CoLiiiciI - ADF
67,433
153,588
52,260
29,993
49,101
4,837
61,200
178,182
40,658
29,993
2,312
3,748
6,745
1,021
45,150
10,624
2,924
42,000
19,621
3,730
106,116
46,987
11,942
2,500
6,000
48,221
105,386
47,853
17,000
12,300
43,427
522
5,140
10,025
11,242
3,053
24,000
3,000
3,000
83,357
57,453
1,844
2,320
4,830
6,400
38,480
4,432
12,682
35,972
1,563
3,950
3,060
4,120
1,600
39,996
9,512
85,298
529
18,198
1,000
14,728
Carried foiivard
874,153
870,005
24
contiiiued...

Lower Ormeau Residents Action Grou
Notes to the Financial Statements- continued
for the Year Ended 31 March 2023
INCOME FROM CHARITABLE ACTIVITIES - continued
31.3.23
31.3.22
Brought foiwai'd
Belfast City Council - Fiiel Support
Belfast City Coiincil- Emei'ging Needs
Belfast City Coui)cil - Micro
Keep Nl (KNIB)
Spoit NI
The Harbour Commission
874,153
69,677
1,400
,186
500
9,800
1,000
870,005
957,716
870,005
CHARITABLE ACTIVITIES COSTS
Support
osls (se¢
iiote 6)
Direct
Costs
Totals
Direct Charilable Expenditure
Governance
1,111,730
1,111,730
22,083
22,083
1,111,730
22,083
1,133,813
SUPPORT COSTS
Govemaiice
costs
Goveniance
22,083
NET INCOMEI(EXPEINDITURE)
Net incoinel(¢xpeiiditui-e) is stated aftei. chargingl{crediting):
31.3.23
31.3.22
Accoiiiilancy
Audit Fee
Deprecialion - owned assets
2,000
2,662
22,396
2,000
2,344
26,996
25
coiitinued.-.

Loiver Ormtau Residents Action Grou
Notes to the Financial Statenients - continued
ror the Year Ended 31 March 2023
TRUSTEEI S, REMUNERATION AND BENEFITS
There were iio I￿stee8, r¢inuneration or other benefits for the yeai- ended 31 March 2023 nor for the
yeai. ended 31 MarLh 2022.
Trustees, expenses
Thei'e wei'e no twstees, expenses paid tor the y¢ar ended 31 March 2023 1101. foi. the year ended
31 March 2022.
STAFF COSTS
31.3.23
31.3.22
Wages and salaries
Social security costs
Other pension costs
480,802
29,044
6,565
471,257
29,264
7,037
516,411
507,558
The average montlily numb¢i' of einployees during the year was as follows:
31.3.23
26
31.3.22
27
Manag¢iiient & Administi'ation
No employees received emoluinents in excess of £60,000.
Tlie key manageinent personnel of the cliarity comprise of the Chief Executive and Senior
Inanagetiieiit teain. The salai-i¢s paid to key iiiaiiageiiienl pei'sonnel beiiig the Chief Exccutive Officer,
Prograiniiie Co-oi'dinatoi's and Finance Manag¢i', dui-ing the year totalled £190,595. (2022.. £203,467).
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Utll'esti-icted
Restricted
tunds
nds
Total
fiinds
INCOME AND ENDOWMENTS FROM
Donations and legacies
1,016
1,016
Charitable activities
Grants Receivable
57,453
812,552
870,005
Earned liiconie
159,783
159,783
Total
218,252
812,552
1,030,804
EXPENDITURE ON
Charitable activities
Direct Chai'itable Expeiidittire
Governance
121,612
862,432
18,225
984,044
18,225
26
Coiitiiiued..

Loiyer Ormeau Residents Action Grou
Notes to the Financial Staten)ents - coiitinued
for the Year En
ed 31 March 2023
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- eontinued
Unreslricted
Restricted
nds
funds
Total
funds
Total
121,612
880,657
1,002,269
NET INCOMEI(EXPENDITURE)
96,640
(68,105)
28,535
RECONCILIATION OF FUNDS
Total funds bi"ouglit foiwai'd
496,360
71,149
567,509
TOTAL FUNDS CARIUED
FORWARD
593,000
3,044
596,044
TANGIBLE FIXED ASSETS
Sports
Equipinent
Laiid &
Buildings
Computeis
& Equipiii¢nt
COST
At l Api-il 2022
Additions
2,442,161
799
185,575
90,940
374
At 31 March 2023
2,442,960
185,575
91,314
DEPRECIATION
At l Api'il 21122
Charge for year
2,392,471
11,736
37,115
7,423
83,519
2,835
At 31 Marcli 2023
2,404,207
44,538
86,354
NET BOOK VALUE
At 31 March 2023
38,753
141.037
4,960
At 31 March 2022
49,690
148,460
7,421
27
coiitiiiued.-.

Lower Ormeau Residents Action Group
Noles to the Finaneial Statements- contiiiued
for the Year Ended 31 March 2023
I I. TAIqGIBLE FIXED ASSETS - eontinued
Motor
vehicles
Fixtui-es
& Fittings
Totals
COST
At l Api'il 2022
Additions
15,519
5,689
2,739,884
1,173
At 31 Marcli 2023
15,519
5,689
2,741,057
DEPRECIATION
At l April 2022
Cliai'ge for year
15,519
4,083
402
2,532,707
22,396
At 31 mai.ch 2023
15,519
4,485
2,555,103
NET BOOK VALUE
At 31 March 2023
1,204
185,954
At 31 Marcli 2022
1,606
207,177
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23
31.3.22
Urban Villages
Tlie Executive Office - TEO
Feile Ali Phobal
Belfast City Coiiiicil
Woinen's Group Proj¢¢t
PHA
Spoits NI
Depi of Communities
CRI Building - Relit
Prepayineiits and accrued inconie
12,682
22,496
3,053
21,373
12,682
23,317
27.680
1,563
30,376
9,800
17,237
6,250
10,105
14,553
10,000
3,968
133,372
93,763
28
coiitinued..

Loiver Ormeau Residents Action Grou
Notes to the Financial Statenieiits - continued
for the Year Ei nded 31 March 2023
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23
31.3.22
Social securiiy aiid othei. taxes
Ci'edit Card
Coronavii'us BBL (Loan)
Pension
AccNals
Grants in Advance
2,104
9,103
32,357
2,390
5,190
5,810
42,054
1,511
44,943
49,101
51,144
143,419
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.3.23
Total
funds
31.3.22
Total
funds
Uiirestricted
nds
Restricted
ftinds
Fixed assets
CLiri'¢nt ass¢ts
Current liabilities
161,479
460,673
(51,144)
24,475
(16,955)
185,954
443,718
(51,144)
207,177
532,286
(143,419)
571,008
7,520
578,528
596,044
15. MOVEMENT IN FUNDS
Net
nioveinent
in funds
Transfers
between
funds
At
3113123
At 114122
Unrestricted funds
General Fiiiid
Designated Fund
489,000
104,000
(21,992)
(292,000)
292,000
175,008
396,000
593,000
(21,992)
571,008
Restricted funds
Capital Grant Fuiid
D¢paitinent of Coinmiiiiities (DFC)
3,044
(3,044)
7,520
7,520
3,044
4,476
7,520
TOTAL FUNDS
596,044
(17,516)
578,528
29
continued..-

Loiver Ormeau Residents Action Grou
Notes to the Financial Statements - contiiiued
for the Y ar Ended 31 March 2023
15. MOVEMEI NT IN FUNDS - continued
Net movenient in funds, included in the above are as follows:
Incoiiiiiig
resources
Resoiirces
expended
Moveinei)t
in funds
Unrestricted funds
G¢neral Fuiid
H￿bOllr Coinmission
Claiiinill Housing
164,581
1,000
3,000
(186,573)
( 1,000)
(3,000)
(21,992)
168,581
(190,573)
(21,992)
Restricted funds
Capital Grant Fund
Belfast City Couiicil -Revenue
BHSCT
Early Years - Pathway fund
Public Health Agency
Cominunity Foundatioii Nl
Nl Housing Executive - General
Active Bclfust
Belfast City Couiicil - Sinall Projects
Bclfast City Council - (Capacity Build)
Belfast City Coiincil - Busiiiess Clusler
Belfast Cily Council - Good Relations
Depaitin¢nt of Conimiinities (DFC)
The Executiv¢ Offic¢ - TEO
Education Auiliority - Belfast Region
Belfast City Council- Suininer Scheine
Bogside and Bi'andywell Health
Fonvai'd South Parl Dev. Fuiids
Belfast City Council - Covid Podiuin 4
Spoils
Fell¢ An Phobail
Belfast City Coiincil - (Mediuin)
Belfast City Couiicil - (Africa Cup)
Public Health Agency - Healthwise
Urban Villages
Healtl)y Living Alliance (Pain)
IFA
Coriymeela Project
Belfast City Couiicil - ADF
Queens Univei'sity
Belfasi City Coiiiicil - Fuel Siippoit
Belfast City Council - Em¢rgiiig Needs
Belfast City Coui)cil - Mici'o
Keep NoriheL'lI Ireland Beaiiliful
Spoit Nl
(3,044)
(67,433)
{153,588)
(29,993)
(52,260)
(49,101)
(4,837)
(10,624)
(2,924)
(42,000)
(19,621)
(3,730)
(98,596)
(46,987)
(11,942)
(2.500)
(48,221)
(11,242)
(3,044)
67,433
153,588
29,993
52,260
49,101
4,837
10,624
2,924
42,000
19,621
3,730
106,116
46,987
11,942
2,500
48,221
11,242
7,520
24,000
3,053
4,120
1,600
39,996
9,512
85,298
529
18,198
14,728
1,000
69,677
1,400
1,186
500
9,800
(24,000)
(3,053)
(4,120)
(1,600)
(39,996)
(9,512)
{85,298}
(529)
(18,198)
(14,728)
( 1,000)
(69,677)
(1,400)
(1,186)
{500)
(9,800}
947,716
(943,240)
4,476
30
contiiiued.

Loiver Ormeau Residents Action Grou
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
IS. MOVEMENT IN FUNDS - ¢ontiniied
TOTAL FUNDS
1,116,297
(1,133,813)
(17,516)
Comparatives for movement In funds
Net
iiioveinent
in ￿ndS
Transfeis
between
fuiids
Al
3113122
At 114121
Unrestrieted fuiids
General Fund
Des1￿}ated Fund
287,363
208,997
96,640
104,997
(104,997)
489,000
104,000
496,360
96,640
593,000
Restricted funds
Capital Grant Fiind
Public Health Agency
Belfast City Couiicil - Covid 19
UCIL Ltd. Covid Social Enterprise
Fund
13,703
6,000
33,934
(10,659)
(6,000)
(33,934)
3,044
17,512
(17,512)
71,149
(68,105)
3,044
TOTAL FUNDS
567,509
28,535
596,044
31
coiitinued...

Lower Ormeau Residents Action Grou
Notes to the Financial Statenients- contiiiued
for the Year Ended 31 March 2023
Is.
MOVEMENT IN FUNDS - continued
Comparative net Inovement in ￿nds, included in th¢ above al'e as follows..
Incoilling
resources
Resources
expended
Moveineiil
in funds
Unrestricted funds
General Fund
218,252
(121,612)
96,640
Restricted funds
Capital Gi?nt Fund
B¢lfast City Couiicil -Rev¢nue
BHSCT
Eai'ly Yeai's - Pathway fund
Public Health Agency
NI Housing Executive - General
Co-operation li'eland
Active B¢lfast
Belfast City CoLincil - Sinall Pi'ojects
Belfast Ciiy Couiicil - (Capacity Build)
Depaitment of Coiiiinunilies (DFC)
The Executive Otrice - TEO
Educatioii Authoi'ity - Belfast Region
Jog Belfasl
Bogside and Brandywell Health
Albert Street Covld Progi'atnine
Forward Soiith Part Dev. Funds
Feile An Pl)obail
Creggan Healthy Liviiig (WWC)
Belfast City Coiincil - Covid 19
UCIL Ltd. Covid Social Eiiteryrise
Fund
Belfast City Council - (Mens Futiire
Dev. Prograniiiie)
Belfast City Coiiiicil (Mediuin)
Belfast City Couiicil - (Africa Cup)
Belfast City Couiicil (Coiii Kitchen
Equipinent)
Public Health Agency- Healthwise
Public Health Agency - Wellbeing
Prograniiiie
Urban Villages
Healthy Living Alliance (Pain)
IFA
Bi'itish Red Cross
Coiiyineela Project
(10,659)
(61,200)
(178,182)
(29,993)
(46,658)
(2,312)
(3,748)
(6,745)
(1,021)
(45,150)
(105,386)
(47,853)
(17,000)
(12,300)
(43,427)
(522)
(5,140)
(10,025)
(3,000)
(117,291}
(10,659)
61,200
178,182
29,993
40,658
2,312
3,748
6,745
1,021
45,150
105,386
47,853
17,000
12,300
43,427
522
5,140
10,025
3,000
83,357
(6,000)
(33,934)
(17,512)
(17,512)
4,830
2,320
6,400
(4,830)
(2,320)
(6,400)
1,844
38,480
(1,844)
(38,480)
4,432
12,682
35,972
1,563
3,950
3,060
(4,432)
(12,682)
(35,972)
{1,563)
(3,950)
(3,060)
812,552
(880,657)
(68,105)
TOTAL FUNDS
1,030,804
(1,002,269)
28.535
32
contiiiued...

Lower Ormeau Residents Action Grou
Notes to the Finaiicial StAtements- contiiiued
for the Year Ended 31 March 2023
16. CONTINGENT LIABILITIES
A contijigent liability exists lo r¢pay grants received should certain conditions not be fulfilled by the
charity.
17. RELATEI D PARTY DISCLOSURES
There were no relaled paity Iransaclions for tl)e year ended 31 March 2023.
18. POST BALANCE SHEET EVENTS
There were no events after the i'eporting period Ilierefore no niaterial issues need disclosed.
19, DESIGNATED FUNDS
In accordance with best pi'aclice tlie coinpany directors Iiave agreed a compi-elieiisive reserves policy.
As sucli, the designated fund is lh¢ result of tlie coinpany's strategic objective to eslablisli Irserves
whicli can be used to fund future expeiiditui'e oli refurbishinent or replacemeiit of capital iteins. Siich
capital itenis include the football pitches. IT Systems and gym eqiiipinent, aloiig with ancillary
running costs.
The aim is also to provide sufficient funds to cover aiiy working capital requiL'ements associated willi
i'eceiving graiit funding in aii-ears, any unfoirseen costs which may ai-ise, as well as allowing foi. the
payinent of aiiy liabilities which would arise should the compaiiy c¢ase to operale. Although Lower
Ornieau Residents Action Gi'oup may iiot be in a position to maintain this level of reseives at a
particular point in tiine, it will strive to aclii¢ve a reseive whicli eqiiates to tliis level.
Desigiiated fuiids are inade up as follows -
3110312023
Running Costs
John MuiTay Lockhouse Pi'oj¢ct
Pitcli Replaceiiient
IT Systeins
Fuimishings
Projected Salaries Shoitfall
50,000
186,000
35,000
20,000
55,000
50.000
TOTAL
396,000
The trustees pi-¢viously designated utu-esti'icted funds of £186,000 for the puichase of tlie Johii
Murray Lockliouse for the developnieiit as a Healthy Hub providing, 2 spaces activity Studios,
coiifereiice i-ooin, café with access to a significant kitcl)en catering to a gl'owing catering aiid li'aiiiing
seivice. The Lockhouse will link witli a coininunity gardeii, poly-tLiniiel and shed, providing niuch
needed access to gi-een space. The final pliase of tlie ov¢i'all d¢velopinent will see the delivery of a
footbi-idge and slipway for a new public rivei- access point, and iiearby boat stoi'age area.
LORAG contributioii of £186,000 for the iiiitial purcliase of tlie propety will fonn pai't of a title with
The Executive Office foi. tlie period of 25 yeai-s.
33
contiiiued..

Lower Oi'meau Residents Action Grou
Notes to the Financial Staten)ents- continued
for the Year Ended 31 March 2023
19. DESIGNATED FUNDS - continued
Moving foiivai-d into 2023124 as a commuiiity lead charity LORAG are coiiscioiis of Ilie ongoing
legacy of COVID 19 and Ilie cuirent ecoiiomic climate and Ilie potential challenges Ihese will plac¢
on the orgaiiisation iiioviijg foiwai'd.
20. WINDING UP
Every meinber of the Coinpaiiy ui)dertakes to coiilribiite to the assets of the Coinpany, in the eveiit of
the same being wound up while il is a inember. oi- wiiliin oiie yeai. after it ceases to be a member, for
i)ayinent of tlie debts aiid liabilities of tlie Con)pany contracted before il ceases to be a member, and of
the cosls, charges and expenses of winding up, and for the adjustment of the rights of the contributols
amoiig tlienis¢lv¢s, sucli ainoiint as inay b¢ i'equired not ¢xceeding one pound.
21. SHARE CAPITAL
The Coiiipany 15 Limited by Guai'antee aiid has no Shal'e Capital
22. COVID-19
The trustees continue to monitor tlie impact of Covid 19. The trustees believe Iliere is no adjustilig
events to repoit aftei. the i'epoiting date.The tivslees will continue to Inonitoi- the situatuion closely lo
secure the viability of the orgaiiisatioii.
34

Lower Ormeau Residents Action Grou
Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
31.3.23
31.3.22
INCOME AND ENDOWMENTS
Donations and legacies
Donations & Fundraising
307
1,016
Earned Income
Project Entry Fees
Drink Sales Coimtnission
Dance Studio
Gym
3G Pitch
Mail) Hall
Contracted Inconie
CRI Building Rent
Rent 13R River Tei'i'ace
St Malachys Playgroup
Management Fees
Co-operation li-eland
Todds Leap
4,384
2,416
8.580
50,435
46,721
14,566
1,657
878
9,095
47,033
46,530
16,527
18,507
10,000
6.921
2,635
6,250
5,400
4,664
6,044
6,000
2,814
158,274
159,783
Charitable activities
Grants
957,716
870,005
Total incoming resources
1,116,297
1,030,804
EXPENDITURE
Charitable activities
Wages
Social security
P¢nsions
Rates and water
Insuraiice Pi'emium
Electricity
Telephone
Priiitiiig and Slalionery
Suppoi-l Costs
Sundiies
Heating Cosls
BCC Capacity
Carried foiward
480,802
29,044
6,565
1,414
4,241
30,095
2.570
7,507
915
471,257
29,264
7,037
4,502
5,866
26,868
2,052
7,717
3,131
15
9,116
18,505
13,168
594,826
566,825
Tliis page does not forjii part of tlie statutoiy finaiicial statements
35

Loiver Ormeau Residents Actlon Gi'ou
Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
31.3.23
31.3.22
Charitable activities
Brought forward
Coiiiputei. Traiiiing aiid IT
St Patrick's Day
Events
Youth Project Costs
Children's Project Costs
Softwar¢ and Mainlenance
Corrymeela Pi'oject Cost
Urban Villages Lagan in a Bubble
Minibus Expenses
Healtli Project Costs
Queens Ethnic Miiiority
Oldei- & Active Project
Woinen's Group Pi'oject
Co-Opei?tion Ireland Project
BCC Covid Sports Packs
BCC Africa Cup
BCC Asyluin DispeiBal
Jog Belfast Project Cost
Fainily Suppoit Pi-oj¢ct - BHSCT
Housiiig Executive Project
HLA Pain Alliance
Small Projects Cost
Forward South Dev Fund Project
Pathway Project Costs
Repairs and Maintenance
Community Fouiidation
Advertising & Publications
Sports Nl Canoes
Uniforms
Donations Paid
Education Auihority Belfast Region
TEO Pi'oject Costs
BRC - Events Pi'oject Costs
F¢ile An Phobail Project
OFMDFM Pi"oject Cost
BCC Wiiiter Voucher Suppoit
BB Health Project Cosls
Depreciatioii
594,826
10,030
566,825
15
40
845
33,949
31,949
4,426
1,317
5.977
19,234
21,621
16,754
11,138
3,298
1,720
862
13,243
4,765
5,551
3,141
1,563
1,641
24,000
58,480
8,135
7,460
2,005
107,630
6,264
60,603
10,610
7,230
841
87,738
2,161
46,219
16,233
1,109
1,680
17,556
24,085
19,404
1,915
9,980
4,199
2,749
2,912
597
2,064
7,674
3,471
17,356
18,413
2,988
4,286
26,996
13,868
13,278
3,653
65,422
7,384
22,396
1,111,730
984,044
Support costs
Tliis page does not fonn pait of tl)e statutory finaiicial slatements
36

Loiver Ormeau Residents Action Grou
Detailed Slatemeiit of Finaneial Activities
for the Year Ended 31 March 2023
31.3.23
31.3.22
Support Costs
Covernance costs
Accountancy
Audit Fee
Cleaiiing aiid Consuniables
Professional and Legal Fees
Sky TV subscriptions
Baiik Charges
2,000
2,662
8,696
4,998
2,000
2,344
7,287
2,216
917
3,461
3,727
22.083
18,225
Total resoui'ces expended
1,133,813
1,002,269
Net (expenditure)/income
(17,516)
28,535
Tliis page does not forni pait of the 8tatulory financial stateineiits
37