REGISTERED COMPANY NUMBER: N1037894 (Northern Ireland)
REGISTERED CHARITY NUMBER: NIC 104799
ort of the Trustees and
Finaneial Statements for the Year Ended 31 March 2024
for
Lower Ormeau Residents Action Grou
Acom
an
Limlted b Guarantee
Lynn Drake & Co Ltd
Statutory Auditors
I st Floor
34 B-D Main Street
Moira
Co. Am]agh
BT67 OLE

Lower Ormeau Residents Action Group_
Contents of the Financial Statements
for the Year Ended 31 March 2024
Page
Reference and Administrative Details
Report of the Trustees
2 to 10
Report of the Independent Audltors
Statement of Financial Activities
15
Statement of Financial Position
16
Statement of Cash Flows
17
Notes to the Statement of Cash Flows
18
Notes to the Financial Statements
19 to 36
Detailed Statement of Financial Activitles
37 to 39

Loiver Ormeau Residents Action Grou
Reference 8nd Administrative Details
f r the Year Ende
31 Mar
h 2024
TRUSTEES
John GoiThl¢y
Marie Cavanagli
Lucy Rice
lain Cameron
Daniela Conte (resigned 9/1112023)
Maric Lavery
Donna Namukasa
Ronan McKenna (resigned 911112023)
Einina Faulkner (appointed 911112023)
COMPANY SECRETARY
Gerard Rice
REGISTERED OFFICE
Shaftesbury Centre
97 Balfour Ave
Belfast
Co. Atttrlm
BT7 2EW
REGISTERED COMPANY
NUMBER
N1037894 (Northern Ireland)
REGISTERED CHARITY
NUMBER
NIC 104799
AUDITORS
Lynn Drake & Co Ltd
Statutory Auditors
Isi Floor
34 B-D Main Street
Moira
Co. Amiagh
BT67 OLE
BANKERS
Allied Irish Bank
35 Univ¢rsity Road
Belfast
BT7 IND
CHIEF EXECUTIVES
Mr Gerard Rice / Ms Natasha Brennan

Lower Ormeau Resldents Action Grou
Re
ort of the Trustees
for the Y
ar Ended
l March 2024
The trustees who are also directors of the charity for the purposes of tlie Coinpani¢s Act 2006, present their
report with th¢ financial statements of the charity for the year ended 31 March 2024. The trust¢¢s have
adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice
applicable to cliarities preparing th¢ir accounts iii accordaiice with the Financial R¢portiiig Standard
applicablc in the UK and Republic of Ireland (FRS 102) (effective l January 2019).

Loiver Ormeau Residents Action Grou
ort of the Trustees
for the Year Ende
l March 2
24
OBJECTIVES AND ACTIVITIES
Objectives and aims
In 2023124 the Lowei. Ornieau Residents Action Group (LORAG) has continu¢d to deliver and enhance a
range of important seivices to meet its strategic goals of providing healili, social, leisur¢ and developmental
aclivities while developing the socio-ecoiioinkc profile of the ar¢a, Our cor¢ projects in the areas of childr¢ii,
youth, health and cohesion have operated extremely successfully, achieving key targets in terms of numb¢rs
and diversity as well as the quality and effectiveness of the progranllnes on offer.
LORAG as a community development organisation has maintained a "cradle to the grave" approach in ilie
organisalion's delivery of services with a key focus around children, young people and families to deliver
holistic support to families with children aged from 2-18 years.
Cor¢ developm¢nt funding again cam¢ through the Department for Communities Belfast R¢generation
Neighbourhood Renewal programine, supporting LORAG deliver childrei), youih-based services aiid the
wider development of services from Shaft¢sbury. This includes delivery of an afterschool progranim¢ for
5-1 l-year-olds, 350 sessions for 5-1 l-year-olds over the school year, 10 specific targeted programmes for 65
childr¢n. Al key times of school closures, Suminer, Christmas and Hallow¢¢n, LORAG ran diversionary and
Ihemed programmes along with sports camps for children and young people.
The Department for Communities funding also allowed for delivery of core youth services including a youth
drop in 5 nights per week, delivery of personal development programmes, art programmes and diversionary
trip I residential breaks for youth aged 12-25 y¢ars. Youth staff sought to provide a safe spac¢ for young
people to develop and build their skills, understand relationships and take part in a range of personal
development pi'ogrammes. Funding enabled LORAG to develop ￿rther programmes in partnership with th¢
young people and other key agencies such as Common Youth, Wheelworks and other local organisations.
Additional funding was received from the Education Authority to suppoit LORAG'S youth work in the areas
of good relations, community safety and diversionary activities, targeting k¢y times when young people are
vulnerable to engaging in risk taking b¢haviours. Progi'ainmes focused on both tlie children and youth
during the 8 week of suniiiier scliool closure.
Early Years under the Pathways fund hav¢ again funded a First Start programine delivered from Shaft¢sbiiry
for children aged 2 -4 years and their familics the programme includes Crucial ¢ngagem¢nt with parents
throughout the year. This project has been hugely successful and is in high demand within the area
delivering 7 plus s¢ssAoiis p¢r week. The project has worked with 62 children delivering structured sessions.
The Project also delivered 14 stay and play sessions witli 40 par¢nts attending, 8 fainily tTiPS With 50
families attending at least one trip along with 45 parent and toddler s¢ssions.
As a Healthy Living Centre, coiniiiuiiity health and well-being is at th¢ core of all LORAG projects.
LORAG continues to dellver bespoke The¢ds led health pi'ogrammes, providing innovative initiatives across
Soulh and wider Belfast designed to iinprove coinmunity health and wellbeing outcomes. A broad l'ange of
health itnprov¢inent progranimes liave been devis¢d to delivei. thesc outcomes, prograinines such as, Healthy
Homes, Functional Fitness, Take 5, Strengili and Balance, Fit to Bi'eathe, Cook it, Couch-to-5k, Talkiiig
Therapies, Health-wis¢ for example providing access to gym with specialist one to instruction for attendees.
LORAG has been able to deliver thes¢ prograniines by creatii)g key partnerships within the Inner South
Neighbourhood Ren¢wal Area. Tliis partnership has linked closely with the Belfast Hcaldi Trust and Publi¢
Health Authority securing funding for the delivciy of these vital healtli and wellbeing seivices.

Lower Ormeau Residents Action Grou
Re
rt of the Trustees
for the Y ar Ended 31 March 2
24
Emotional Wellbeing is a key issue for the comniunity. LORAG has aimed inany programines towards
developing this s¢rvice over the years. In 2022123 we launched our first self-referral Talking ilierapies
s¢rvice as well as a self-referral complimentary therapy off¢ring services across the Inner South ar¢a
suppoited by the Cominunity Foundation Mental Healili fund. Over 240 people benefited from these
services delivered oii¢-to-one. The project also delivered a range of group capacity buildiijg prograi)llnes
designed to build coinniunity capacity and resilience, This programm¢ was funded for 2-year funded
programme from 2022123 2023124. The funds ended in March 2024 leaving a significant gap in
S¢lf-referral services for r¢sidenls of the I1￿¢r South Belfast, The outcoines and inipact of this programme
were extr¢inely positive in supporting people and their mental li¢aldi. LORAG will continue to seek otlier
avenues to bridge the gap created,
BHSCT Continu¢ to ￿lld our GP referral based Talking therapies which has be¢n a massive success with
LORAG delivering 1421 on¢-to-one talking th¢rapies sessions. The service is very flexible delivered
morning, evenings, weekends froin the Centre or via t¢l¢phone directly to the clieiits at hoine.
BHSCT also funded LORAG to act as lead in the delivery of the South One Family Support Hub as part of
the overall Belfast Family Support network including a small fund to support families with issues that are
identified as "gaps in servic¢.
This included the delivery of partnership building, collating refe￿als, connecting services and evaluating
Family Support services and the effectiveness of thes¢ services for famili¢s throughout South Belfasl. The
hub is in its ninth yeai. and has gon¢ from strength to strength with 316 ￿ferraIS received from a broad range
agencies and f￿nIll¢S with 314 parents and 135 individual childreii eiigaging in a service. Famili¢s referred
have reporl¢d positiv¢ outcomes from th¢ir experience with over 85/0 ¢omplcting the full se￿Ice. Over a
third of r¢fettals came from f￿nIll¢S as self-r¢ferrals which is a very encouraging statistic that clearly
evidenc¢s a high level of ¢onfid¢n¢e and support for the services deliv¢red from within th¢ hub. BHSCT
through th¢ Belfast City Council liardsliip funds also provided fijnding io th¢ hub over the Wint¢r period to
deliver an essential voucher scheme to families in parlicular difficulty.
Fundiiig was secured for the 9th year from BHSCT for the delivery of a n¢eds led Family Support s¢rvice
across wider South Belfast. Support delivered included 38 fainily support home visits, 52 play therapy and
meiitoiing progranunes, supporting 52 children and th¢ir pareiit's experiencing anxiety, stress, 92.5 /0 of
families completing the programmes r¢ported impi'oved outcomes in their family relationships with 89.5 /0 of
the childr¢n aged 5-1 l years completing tlie mentoring progi?Inmes reporting improved levels of confidence
and self-esteem.
LORAG continues to give and r¢ceive support from the Healthy Living Allianc¢ {HLA) with LORAG acting
as lead partners for the ongoing development of the Better Days Pain Support programme co-ordinating tlie
delivery of 45 regional Pain Managem¢nl programmes through a Health Social Cal'e contracl. This fuiiding
went out to tender in 2023124 and in January 2024 LORAG s¢cui'ed a 5-year contract with HLA thi'ough
Department of Health SPPPG to co-ordinate th¢ regional prograinme.

Lower Ormeau Residents Action Grou
ort of the Trustees
for the Year Ended 31 Mar
h 2024
The Creating Cohesive Community / Good Relations project has been able to provide a diverse range of
programmes supported by funding froin The Executive Office (TEO) with additional funding from Belfast
City Council (BCC), Northern Ireland Housing Executive (NIHE) and the Clanmil Housing Association
(CHA). These funds have enabled LORAG to work with key partners delivering Good Relations work
withtii th¢ Lower Onneau, Botanic, Market and Don¢gall Pass ai)d wider South Belfast areas. The project
has continued to provid¢ opportunilics to expel myths, increase understanding and foster a sens¢ of
belonging" within and between the community. Buildiiig good relations aniongsl n¢ighbours through the
Men's and Women's Good Neighbour programme and in the delivery of IntercuI￿ra1 festival ev¢nts, such as
Intercultural day in August, St Patricks festival in March and the Winter Fest in December. All the festivals
have liad in the region of 200-1000 people (with Féile na hAbhann / Festival of the River 10,OOO+ altendees)
attending to engage in a wide variety of cultural activities. This project has been key in developing the
Lockhouse programm¢ delivered from the new Community Garden, Poly-tunnel and shed. Growing a core
group of volunteers to give life to th¢s¢ iinportant Good Relations initiativ¢s.
LORAG has continued to work on the John Murray Lockhous¢ project, purchased in 2017, LORAG
coinpleted a business cas¢ in 2020121 with a further Good R¢latAons Business Cas¢ cotnpleled and approved
by Urban Villages l TEO in 2022. A diverse range of partners and funders Iiav¢ supporl¢d the project which
aims to develop a Healthy Living hub focusing on ¢inotional wellbeing, a key issu¢ idetitified during the
community consultation.
The building will house a café opening on to th¢ towpath, two large activity rooms for wellbeing activities
and cookery and a confei'ence room foi. gi'oup5 to meet. This will op¢n out onto a community garden and
shed where horticulture and boat building will be the focus through key initial projects. We have also
furth¢red our aim to develop onto the water and provide an access point for groups to i￿¢ downstr¢ain, In
2023124 the Community Garden elein¢nt was coinpleted by Suinmer, WAtlI soft opening around September
time for localised volunteer programn]es and development. Planning pennission for the wid¢r build of the
Lockhouse was agi'eed in April 2023 and the contract for building was tendered and awarded. Funds are in
place and the project build phase is to be managed by B¢lfast City Council for this and the larger house build
which aims to be operational in 2024.
The Urban Villages l TEO progi'amme fund¢d a small but vital pi'oject litl¢d "Up thc Lagan in a Bubble"
linked directly to the Lockhous¢ development supported over 30 young people lo take part in taster sessions
on the rivei. with further training paddle sports lead by Sport NI Tollymore Outdoor Centre. Working in
partnership with Sport NI'S this programme achieved niucli success in g¢tting young people involved in
paddle sports activities. Howev¢r, the engagement also highlighted many chall¢ng¢s for th¢ young people
tliat took part, many had spent their early years living very much with their 'backs' to the river. For ihem the
Lagan was an unsafe, unclean place, fijll of obstacles and danger. Many we found could not swim, a legacy
of the Orni¢au Bath's and Maysfield Leisure Centre closures. Unfortunately, TEO end¢d funding for the
programiiie in March 2024.
F¢ile na hAbhann was delivered for the fourth ycar as a walenvay celebration festival and illuminated the
river lagan and towpath with l 0,000 people attending the family festival event with a further 2000 attending
local events across the three core coininuniti¢s. This festival was a partnership with Féile an Phobail and a
consortia of South and East Belfast partners, We aim lo build on the f¢stival and its deliv¢ry and to expand
over the next few years to creat¢ a liive of activity in tliis area over key pei'iods.
Belfast City Council revenue ￿'ant for the inanageinent of the Centre continued with additional funds for
Capacity Bvildiiig aloiig with a range of small programme grants has ineant that LORAG has been able to
offer suppoit for other smaller organisations and fledgling groups seeking support in the deliveiy of their
programmes, govemaiic¢ and developin¢nt. Shaftesbury the Centr¢ i'emains a safe, welcoiningy wanrl,
affordable spac¢ for many of the ¢ity's new and ¢m¢rging groups particularly ov¢i' the weekend pei-iods.

Loiver Ornjeau Residents Action Grou
ort of the Trustees
for Ihe Year Ended
l March 2024
Shaftesbury Coinmunity & R¢creation Centre conlinues to open Monday to Sunday covering 96+ op¢ning
hours per w¢¢k, 355 days per year with an average daily footfall of 800 peoples per day is the clearest and
purest indication of LORAG'S commitment to deliver quality n¢¢ds lead servkces on behalf of the
community.
LORAG has sought to grow th¢ Social Economy income gen¢rating model wilh the aim of improving
services and the growing demand to improve community health and w¢llbeing. This element is facing huge
challenges with the current state of the economy and the pressures this has brOU￿1t on the community. It is
hard to sell gym and fitness class memberships while handing out food parcels and vouchers within a
cominunity.
Income from the hire of services has allowed LORAG to maintain som¢ financial resources for the
replacement of ¢quipment rcpair and renewal, and increased salaries. However, pr¢ssures ar¢ rising with
current fuel, gas and electrickty costs up over IOOO/o Putling hiige financial pressure oil the organisation.
Grdnt uplifts have been unable to keep in line wlth costs increas¢s. LORAG is increasingly dependent on the
income generated from within to ineet addilioiial costs.
Th¢ sudden closure of St John Vianney Youth Club which provided much needed Youtli Services within
area for the past 40 years clearly shows the impact that redu¢¢d funding coupl¢d with pressure on the
voluntary sector to deliver Se￿ic¢S has had on groups of long standing.. Following a public meeting
LORAG was tasked with protecting th¢ youth facility and funding that had been available for ih¢
reinstatement of the service. LORAG hav¢ ¢ngaged independ¢nt consultants Sector 3 Solution to undertake
an examinalion of the issues that lead to the closure of the setting and to agree a coinmunity response plan.
LORAG have met with other cotnn]iinity youth providers, the facility owners Down and Conor Dioc¢se and
Education Authority as the statutory ag¢ncy responsible for the delivery of such service.
LORAGS plans have been adapted throughout the year to best ineet the communities need for services while
ren]aining aware of the inflationary fuel / energy, rising food prices and the impact this is having for many
within the community. While LORAG continue to inaintain our aim of delivering coiiiinunity services whil¢
keepkng within our strategic aiins of conlliiunity growth and regeneration, day to day issues, such as thos¢
being expei'i¢Thced are placing huge pressures on the organisation staff and limited resources at this time,
Principle actfivities and Future Developn)ent
Lower Onneau Residents Action Group (LORAG) is a regi.st¢red charity whose purpose is to proinotc the
benefit of the r¢sidents of the Lower Onn¢au area without distinclion of ag¢, sex, race, political. religious or
other opinion.
LORAG meets these objectiv¢s by liaising with various statutory agencies, voluntary organisations and
Belfast City Council and various Stonnont Departinent which have responsibility for the ar¢a,

Lower Ormeau Residents Action Grou
ort of the Trustees
for th Year Ended 31 IKarch 2024
OBJECTIVES AND ACTIVITIES
Public benefit
Purpose I
Work in partnership to advance education and preserve, protect health aiid wellbeing.
The b¢n¢fAt that flows from this purpose is the d¢velopnienl of targeted educational and h¢alth servic¢s for
fainilies, increasing family oppoitunities for family ¢duGational altaimnenl, reducing poverty, stress and
anxiety for families, increasing family health and wellbeing.
The ben¢fits are demonstrated through baseline and final evalualions using a range of measures to collect
qualitative and quantitative data across our programines. The data collected includes self-efficacy, w¢llbeing
scales alld CORE NET as core data to demonstrate change, as well as Important focus groups, parent
fecdback, participant questionnaires and ongoing monitoring by staff and volunteeiB. We monitor family and
individual wellbeing, iiicrcased educational attainment, personal dev¢lopnient, redu¢ing poverty, sti'ess, and
anxiety for resid¢nts
The risk of ham) for service users are car¢fully considered prior to th¢ delivery of services..
Purpose 2
To provide communiiy based facilities in the interests of social welfar¢ for recreation and leisure lime
occupation with the object of improving the conditions of life for the said inhabitants.
The benefit that flows fi'oin this purpose is the d¢velopment of a family fiiendly community healthy living
hub, offering iiicr¢as¢s access aiid greater participation of famili¢s in sport, r¢creation, ai)d leisure services
and thus Improving the conditions of life for inhabitants.
Shaftesbury Cominunity and Recreation Centre (the Centr¢} is owned by Belfasi City Council and managed
by LORAG under a 25 year lease. The Centre is open 7 days a week (96 hours per week) to the public and
currently has a daily footfall of approx. 800 people p¢r day. Th¢ age rang¢ of those avaiEing of th¢ Centre 6
months to 92 years of age. The Centre services include Pre and After-schools, Mental Health, Youth Drop-n,
Comniunity Coh¢sion, Health Education, Therapi¢s Rooin, Counselling Rooins, Indoor Sports facility,
Danc¢ Studio/Minoi' Fitness Hall, Gym, Outdoor 3g Pitch. The benefits are demonstrated through activ¢
participation and feedback from th¢ beneficiaries, community surveys, and increased usage of the Centr¢.
The beneficiaries of services and pi'ograinmes delivered will iiiclude primarily but not ¢x¢lusively residents
from the Lower Om]cau, Inner South Belfast, South Belfast and wider Belfast areas.
STIUTEGIC REPORT
Financial Review of the Year
Tlie company had net ouigoiiig resources for the year of £33,433 (2023: net outgoing resources of £17,516),
which reflected the completion of a number of projects during the y¢ar. Unrestricted ￿ndS decreased by
£25,913, while restricted fuiids decr¢ased by £7,520.
The charity continues to work tirelessly to secure incoiii¢ from various sources to finance its ongoing
activili¢s with key stakeholders. The maiii sour¢¢ of funding are grants received from various bodies as
disclosed in not¢ 4 in the financial stat¢inents.

Lower Ormeau Residents Action Grou
Re
for
ort of the Trustees
h Year End
31 March 2
24
STRATEGIC REPORT
Financial revleiv
Reserves policy
Unrestricted funds are essential to provid¢ sufficient funds to cover any unforeseeii costs which inay arise
and fulfil the legal obligations of the Charity if ¢urrent l¢vels of income are not maintained.
The r¢serves policy has been d¢signed to recognise LORAG'S i-equirements for reserves considering the iDain
risks to the orgaiiisation.
LORAG has established a policy whereby tlie unrestricted funds not coinmitt¢d
should equate to 6 months, total resources expended, unrestricted reserves have not r¢a¢hed that level. The
aim is to provide sufficient funds lo covei. any unforeseen costs wliich may arise, recognise the volalile grant
environment, rising running and salary costs as well as allowing for the payment of any Itabilities which
would arise should the company cease lo operate. Any call upon the use of reserves will be at tlie approval
of the LORAG Coininilt¢e whicli will exainin¢ the ratioi)ale for doiiig so and agree ali aiiiount where
appropriate.
On 31 March 2024, the level of free reserves excluding £148,477 of fixed ass¢ts and capital property
purchas¢ was £396,618. (2023 £409,529) which equates to 4 months, expenditure.
The trustees have assessed the major risks to wliich the charity is exposed and are satisfied that systems are
in place to mitigate exposure to the ftnajor risks.
Going concern
These f5nancial statements have been pr¢pared on the basis that Low¢r Omieau Residents Action Group will
ontinue to operate as a going concern for the foreseeable future.
The board liave funding in place to meet running costs for the next twelve months. Th¢ board continu¢
to review the financial position of Lower Onn¢au Residents Action Group on a regular basis.
Lower Onn¢au Residents Action Group are curr¢ntly and continually assessing alternative funding oplions
and hope to continue ¢haritabl¢ opei?lions in whatevei. capacity deemed appropriale by the board, in line
with the deed of trust and the charitgs aims and objectives. Lower Om]eau Resideiits Action Group net
assets at 31 March 2024 w¢re £544,095.
Th¢ f￿anCIal statements do not contain any adjustmenls that would arise if th¢ financial statements were not
drawn up on a going concern basis. If required these adjustments would be inade lo the balance sheet of the
Charity to increas¢ or reduc¢ the value of assets to th¢ir recov¢rable amount, to pi'ovide further liabilities that
may arise and to reclassify fixed assets and long term liabilities as CUiTent assets and liabilities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Goveriiing document
Th¢ charity is conts'olled by its governing document, a deed of trust, and Const1￿ceS a limited Company,
limited by guarantee, as defiiied by the Companies Act 2006.
Governance of the Charity
During the period und¢r review the directoiE met monthly.
Trusteesldirectors ore appointed by iioniinations made in writiiig by any existing director. At the Gen¢Tal
Meeting nominated directois arc appointed by election.

Lower Ormeau Residents Action Grou
ort of the Trustees
for the Year Ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk n)anagemeiit
The principles of good governance are embedded within all aspecls of Lower Ormeau Residents Action
Group's operations with mai)ageineiit and staff beiijg k¢¢nly aw8r¢ of the Boards responsibility of ensurliig
that the organi5ation protects itself from financial exposure and reputational damage, A clos¢ working
relationship is maintained betwe¢n the Board and managcm¢nt to ensure that operationally staff are aware of
the standards requiird of them by the Boai'd and the Board are always in a position to provid¢ guidance and
support to inanag¢ment iii the discharg¢ of tlieir duties. Tliis two way relationship is the key leature of Lower
Onneau Residents Action Group governance arrangements and is a key strength in th¢ company.
A conscientious approach to ensuring that contraciual project requirements are achieved has been maintained
at all times both in the accounting period being reported on and since Lower Om]eau Residents Action
Group's establishment. Very tight fiiiancial controls on expenditure and all financial coinmitm¢nts ar¢
maintain¢d at all limes and project staff Iiave been trained and have b¢come experienced in budgetary
controls. In both these areas ie Project delivery and financial coThlrols managein¢nt all staff have established
close working relationships with funding organisalions to ensure all mandatory standards ar¢ consistently
achieved. Board representatives also activ¢ly engag¢ with funding bodies.
Th¢ Board, management and staff a￿ fully aware that the nature of the work in which Lower Omieau
Residents Action Group is involved can bring with it a high l¢v¢l of scrutiny to ensure that all activities are
fully compliant with funding requireinents and therefore, beyond reproach. The Board of Lower Oimeau
Residents Action Group is, therefore. greally reassured of the company's ¢oinplian¢e with the highest of
standards of governance on the basis that all monitoring and evaluation of project delivery demonstrates
achievement of all thnd¢rs objectives and that fuiiders, audits and vouching of financial expendittire and the
statutory audit confimi compliance with both pi'obity and regularity fin the use of monies received.
EVENTS SINCE THE END OF THE YEAR
Infoiination relating to events sinc¢ the end of the year is giv¢n in the notes to the financial stalements.
TRUSTEES, RESPONSIBILITY STATEMENT
Th¢ trustees (who are also the directors of Lower Omieau Residents Action Group for the purposes of
company law) are r¢sponsibl¢ for preparing the R¢port of the Trustees and the flnancial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice) including Financial Reporting Standard 102 Th¢ Financial Reporting
Standard applicable in the UK and Republic of Irelaiid
Company law requires the trustees to prepare financial statements for eacli financial yeai. whicli give a true
and fair view of the state of affairs of the charitable coinpany and of the incoming resources aiid application
of resources, including the income and expenditure, of the charitable company for that period. In pr¢pai'ing
those financial statements, the trustees are required to
select suitable accounting policies and ihen apply thein consistently?
observe the methods and principles in th¢ Charity SORP.
tnake judgements aiid estimates that are reasonable and prudent.
state whether applicable accounting standards hav¢ been followed, subject lo any material departures
disclosed and explained in tlie financial statements;
prepare the financial stat¢n]ents on th¢ going concern basis unless it is inappropriale to presume that the
charitable Company will continu¢ in business.

Lower Ormeau Residents Action Grou
ort of the Trustees
for the Year Ended
l March 2024
TRUSTEES, RESPONSIBILITY STATEMENT - contlnued
The trustees are responsibl¢ for keeping prop¢r accounting records which disclos¢ with rcasonabl¢ accuracy
at any time the financial position of the charitable company and to enabl¢ them to ensure that the financial
stateinents coniply with the Companies Act 2006, They are also responsible for safeguardiiig the assets of
the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and
other irregulariti¢s.
In so far as the Irustees are aware:
Iherc is no relevant audit inforniation of which the cliaritable company's auditors are unaware. and
th¢ trustees have tak¢n all steps that they ought to have taken to make themselves aware of any r¢levant
audit infomiation and to establish that Ili¢ auditors are awar¢ of ihat information.
AUDITORS
The auditors, Lynn Drake & Co Ltd, will be proposed for re-appoiiitn]ent at the forthcoming Annual G¢n¢ral
Meeting.
Report of the tNstecs, incorporating a strategic report, approved by order of th¢ board of trustees, as the
company directors, on 22 October 2024 and signed on the board's behalf by..
John Gonnley - Tn￿te¢
10

ort of the Inde
endent AudAtors to the Truste
Low
r Ormea
Residents Action Grou
s and Members of
Opinion
We have audited tlie financial stal¢nients of Lower Omieau Residents Action Group (the 'charitabl¢
conkpany,) for the year end¢d 31 March 2024 which compris¢ the Statcinent of Financial Activities, the
Statement of Financial Position, the Statement of Cash Flows and notes to tlie finaiicial statements, including
a summary of significant accounting policies. The financial reporting framework that has been applied in
tlieir preparation is applicable law and United Icingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice), including Fiijancial Reportiiig Standard 102 'Thc Financial Reporting
Standard applicable in th¢ UIC and Republic of Ireland,.
In our opinion the financial statements:
give a tru¢ and fair view of the state of the charitable ¢oinpany's affairs as at 31 March 2024 and of its
incoming resources and application of resources, including its income and expenditure, for the year then
elided.
have been properly prepared in accordance with United Kingdom G¢n¢rally Accepted Accounting
Practic¢, including Financial Repoiting Standard 102 'Tlie Financial Reporting Standard applicable in the
UK alld Republic of Ireland and
hav¢ been prepared in accord8nce with the requirements of the Compani¢s Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicabl¢ law. Our responsibilities under ihose standards are ￿rther described in the Auditors,
responsibilities for the audit of the financial stateinents section of our report. We are independent of tlie
charitable con]pany in accordance with the ethical requirements that are r¢levant to our audit of the financial
statements in th¢ UK, including the FRC'S Ethical Standard, and w¢ have fulfilled our other ¢thical
responsibilities iii accordance with these requiremenls. We believe that the audit evidence w¢ have obtained
is suffici¢nt and appropriate lo provide a basis for our opinton.
Conclusions relating to going concern
In auditiiig the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we Iiave perfonn¢d, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast signiflcant doubt on the charitable company's ability to
ontinue as a going concern for a period of at least twelve months from when th¢ financial statements are
autliorised for issue.
Our responsibilities and the responsibilfities of the trustees with resp¢¢t to going concern arc described in the
relevant sections of this report.
Other Inforxnation
The trustees ar¢ responsible for the other inforination. The other infonnation coinprises the infomiation
included in th¢ Annual Report, other than the financial statements and our Report of the Independent
Auditors thereon.
Our opinion on the financial slateinents does not cover the otlier inforniation and, except to tlie extent
otlienvise explicitly stated in our report, w¢ do not express any fonn of assuranc¢ conclusion th¢reon.
In connection with our audit of the financiaR statements, our responsibility is to read the other infomiation
and, in doing so, consider whether the other infonnation is materially inconsistent with the financial
stateineiits or our knowledge obtaiiied in the audit or othenvise appears lo be inat¢rially iiiisstated. If w¢
identify such mat¢rial incoiisistencies or appai'ent niaterial inisstatemei)ts, we are requii'ed to determine
wh¢ther this gives rise to a material iiiisstateineiit An tli¢ financial stateinents themselves. If, based on the
work we have p¢rfom]¢d, we Conclude that tliere is a niateA'ial iTJiSStatement of this other inforLnation, we ar¢
required to report that fact. We have nothing to report in this regard.

ort of the Inde
endent Auditors to the Trustees and Members of
Loiver
rmeau Residents Action Grou
Opinions on otlier matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the coiirsc of the audit,.
th¢ infom)atioii given in the Repoit of the Trustees for the financi81 year for which the financial
statements are prepared is consistent with the financial stateinents; and
the Report of Ilie Trustees has been prepar¢d in accordance with applicable legal requirenients.
Matters on ivhich ive are required to report by exception
In the light of the knowledge and understandiiig of the charitabl¢ company and its environinent obtained in
the course of the audit, we hav¢ not identified material misstatements in the Report of lh¢ Trust¢¢s.
We have nothing to report in respect of the following matters wher¢ the Companies Act 2006 requires us to
report to you if, in our opinion:
adequate accounting records have not been kept or returns adequate for our audlt hav¢ nol b¢en received
from branches not visit¢d by us. or
the fiiiancial stateinents are iiot in agr¢einent with the accouiiting records and returns. or
certain disclosures of trustees, reiiiuneration specified by law are not made; or
we have not received all the inforniation and ¢xplaiiations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees, Responsibilities Statement, the trustees (who are also the directors
of the charitable company for tlie purposes of coinpany law) are responsible for the preparation of the
financial statements and for being satisfied that they giv¢ a true and fair view, and for such internal control
as th¢ trnstces determine is necessary lo enable the pirpaialion of financial statements that ai'¢ free from
Inatei'ial inisslat¢menl, whether due to fraud or error.
In preparing th¢ fii)ancial stateinents, the trustecs are responsible for assessing the charitable company's
ability to continue as a going concern, disclosing) as applicabl¢, matters related lo going concern and using
tlie going conceni basis of accounting unless the trustees eitlier intend to liquidate the charitable company or
to c¢ase operations, or have no realistic alternative but to do so.
12

ort of the Inde
endent Audfitors to the Trustees and Members of
Loiv
r Ormea
Residents Action Grou
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financlal stat¢m¢nts as a whole arc free
from inaterial misstat¢inent, whether due to fraud or error, and to issue a Report of the Independent Auditors
that includ¢s our opinion. Reasonable assuranc¢ is a high level of assurance, but is not a guarantee tliat an
audit conducted in accoi'dance with ISAS (UK) will always detect a Inaterial Inisstatem¢nt when it exists.
Misstateiiieiiis cali arise froiii fraud or errol. and are considered material if, individually or in the aggregate,
Ihey could i'easonably be expected to influ¢n¢e the economic decisions of users taken on the basis of these
fiiiancial s¢at¢incnts.
The extent to wliich our procedur¢s are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliaiice witli laws and regulations. We design
procedures in liiie with our r¢sponsibilities, outlined above, to detect material misstatements in respecl of
irr¢gulariti¢s, including fraud. The extent to which our procedures ai'¢ capable of detecting irregularities,
includii)g fraud is detailed below:
Based on our understanding of lh¢ company aiid industry, we identified the principal risks of
non-compliance with laws and regulations as those ihat have a direct impact on the delcnnination of material
amounts and disclosures in the financial statements.
We evaluated managein¢nt's incentives and opportunities for fraudulent manipiilation of ihe financial
statements and deteiinined that the principal risks related to rcv¢nue recognition. We communicated the
idcntified laws and regulations throughout the audit teain and remaincd alert to any indications of
non-coinpliance tl]Toughout the audit. Audit procedures perfonned included, but were not limited to:
Discussions with management including consideration of known or suspected instances of
non-compliance with laws and regulation and fraud:
Reviewing the financial statem¢nt disclosures and testing to supporting documentation.
Review of board iiieeting minutes of those charged with govcmance;
Iii addressing the risk of fraud through manageinent overid¢ of controls, testing the appropriateiiess of
journal entries and oth¢r adjustments.
As part of an audit in accordan¢¢ with ISAS (UK), w¢ exercise professional judgment and maintain
professional scepticism throughout the audit. We also'.-
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
e￿or, design and perforni audit procedures r¢sponsiv¢ to those risks, aiid obtain audit evidence that is
sufficient and appropi-iatc to provide a basis for our opinion. Th¢ risk of not detecting a material
Inisslatement resulting froin fraud is higher than for on¢ resulting from error, as fraud may iiivolve collusion,
forgery, intentional omissions, misrepresentations, or the overrid¢ of internal control.
Obtain an understanding of intcmal control r¢l¢vant to the audit in ord¢r to design audit procedures that arc
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
charities internal control.
Evaluate lh¢ appropriaten¢ss of accounting policies used and th¢ reasoiiableiiess of accouiiting esliinates and
relat¢d disclosures made by the truslees.
Perform analytical procedures to id¢ntify any unusual or unexpected relationships that may indicate risks of
material inisstatement due to fraud or errol-.
13

Re
ort of the Inde
endent Auditors to the Trustees and Members of
Lower Ormeau Resident Action
rou
Conclude on the appropriateness of tlie trustees, use of ihe going concern basis of accounting and based on
the audit evidence obtained, whether a material uncertainty exists related to events or conditions that n]ay
cast significant doubt 011 the charilies ability to continue as a going concern. If we Conclud¢ thal a material
uncertainty exists, we are required to draw attention in our auditor's report to th¢ related disclosures in the
financial staÉ¢menls or, if such disclosui'es are tnadequat¢, to modify our opinion. Our conclusions are based
oil the audit evideiice obtained up lo the date of our aiiditovs repoit, However, future events or conditions
may caus¢ the charity to cease to continue as a going concern.
Evaluate the overall pr¢sentation, structure, and content of the financial statements, including the disclosures
and whether the financial statements represent Ilie underlying transactions aiid events in a manner ihat
achi¢ves fair prescnlation.
We communicate with those charge with governance regarding, among other matters, the planned scope and
timing of ihe audil and significant audit findings, including significant deficiencies in internal control ihat
we identify during our audit.
A further description of our responsibilities for the audit of the financial stateinents is located on th¢
Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description fonns
part of our Report of ihe Independent Auditors.
Use of our report
This report is inad¢ solely to the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit woi'k has been undertaken so that we might state to the
¢haritabl¢ ¢on]pany's m¢iiibers those matters we are required to stal¢ to thein in an auditors, report and for iio
other purpose. To the fullest extent permitted by law, we do not ac¢ept or assume responsibility lo anyone
other thai
the charitable coiiipany and the cliarilable company's memb¢rs as a body, for our audit work, for
this r¢po
or for the opinions we have fonned.
Billy Dra
enior Statutory Auditor)
for and on be
f of Lyt￿ Drake & Co Ltd
Statutory Auditoi
1st Floor
34 B-D Main Str¢¢t
Moira
Co. Annagh
BT67 OLE
22 October 2024
14

Loiver Ormeau Resldents Action Grou
Statement of Financial Activities
or
oratin
an Income and Ex
for the Yevdr Ended 31 March 2024
en
re Account
31.3.24
Total
funds
31.3.23
Total
funds
Unrestrict¢d Restricted
funds
fujids
Notes
INCOME AND ENDOWMENTS FROM
Doiialions and legacies
1,254
1,254
307
Charitable activilies
Granls Receivable
177,746
654,368
832,114
957,716
Earn¢d Income
180,297
180,297
158,274
Total
359,297
654,368
1,013,665
1,116,297
EXPENDITURE ON
Charitable activities
Direct Charitable Expenditure
Governance
354,208
31,002
661,888
1,016,096
31,002
1,111,730
22.083
Total
385,210
661,888
1,047,098
1,133,813
NET INCOMEI(EXPENDITURE)
(25,913)
(7,520)
(33,433)
(17,516)
RECONCILIATION OF FUNDS
Total funds bi'ought fonvard
571,008
7,520
578,528
596,044
TOTAL FUNDS CARRIED FORWARD
545,095
545,095
578,528
The notes forn] part of these financial statements
15

Lower Orm
au Residents Action Grou
SlatemeDt of Financial Position
31 March 2024
31.3.24
31.3.23
Notes
FIXED ASSETS
Tangible assets
172,952
185,954
CURRENT ASSETS
Debtors
Cash ai bank
12
203,105
216,572
133,372
310,346
419,677
443,718
CREDITORS
Amounts falling due within one y¢ar
13
(47,534)
(51,144)
NET CURRENT ASSETS
372,143
392,574
TOTAL ASSETS LESS CURRENT
LIABILITIES
545,095
578,528
NET ASSETS
545,095
578,528
FUNDS
Unrestricted funds
Restricted ￿ndS
15
545,095
571,008
7,520
TOTAL FUNDS
545,095
578,528
The financial statements were approved by lh¢ Board of Trustees and authorised for issue on
22 October 2024 and wer¢ s1￿cd on its behalf by..
John Gonnl¢y - Trust¢e
Marie Cavanagh - Trustee
The notes forni part of th¢se financial stateinenls
16

Lower Ormeau Residents Action Grou
Statement of Cash Flows
for the Year End
31 March 2024
31.3.24
31,3.23
Notes
Cash flows from operating activities
Cash generated froi)i operatioi
(86,151)
(127,004)
Net cash used in operatiiig activities
(86,151)
(127,004)
Cash floivs from investing activities
Purchase of tangible fixed assets
(7,623)
(1,173)
Net cash used in investing activiti¢s
(7,623)
(1,173)
Change in cash and CY4sh equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
(93,774)
(128,177)
310,346
438,523
Cash and cash equlvalents aÉ the end
of the reporting period
216,572
310,346
The notes forni part of tliese financial statein¢nts
17

Lower
rmeau Residents Aetlon Grou
Notes to the Statement of Cash Floivs
for the Year End
31 March 2024
RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING
ACTIVITIES
31.3.24
31.3.23
Net expenditure for the reporting period (as per the Statement
of Financial Activities)
Adjustments for:
Depreciation charges
Increase in debtors
D¢creas¢ in creditors
(33,433)
(17,516)
20,625
(69,733)
(3,610)
22,396
(39,609)
(92,275)
Net cash used in operxtlons
(86,151) (127,004)
ANALYSIS OF CHANGES IN NET FUNDS
At 114123
Cash flow
At 3113124
Net cash
Cash at bank
310,346
(93,774)
216,572
310,346
(93,774)
216,572
Total
310,346
{93,774)
216,572
Tli¢ notes forni part of these financial stateinents
18

Lower Ormeau Residents Action Grou
Notes to the FinAneial Statements
for the Y ar Ended
l March 2024
ACCOUNTING POLICIES
Summary of significant accounting policies
(a) General information and basis of preparatlon
Lower Onn¢au Residents Action Group is constituted as a company liinited by guarantee incoiporaled
in Northern Ireland (N1037894). In th¢ event of the charity being would up, the liability in respect of
the guarantee is liniited to £1 per member of th¢ charity.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have
been prepared in accordance with Accounting ond R¢portiiig by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102), tlie Financial
Reporting Standard applicable in the United Kingdoin and Republic of Ireland (FRS 102), the
Chai'ities Act (Noiihern li'eland) 2013, the Compani¢s Act 2006 and UK Generally Accepted Practice
as it applies froin l January 2015.
Tli¢ financial statements ar¢ prepared on a going concern basis und¢r the historical cosl convenlion,
modified to includ¢ certain items at fair value. The financial statements are presented in sterling
which is th¢ functional currency of the charity..
The significant accounting policies applied in the prepai'ation of Ih¢se financial statements are s¢t out
below. These policies have been consist¢ntly applied to all years presented unless oth¢nvise stoted.
(b) Funds
Unrestricted funds are available for use at the discretion of tlie Irustees in furtherance of the general
objectives of the charity and which hav¢ not bccn designated for other purpos¢s.
Designated ￿ndS coinpiise ui]restricted funds that hav¢ been set aside by thc tniste¢s for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted ￿ndS are funds which are to be used in accordance with specific restrictions impos¢d by
donors or whicli have been rais¢d by the charity for particular purposes. The cost of raising and
adLninistering such funds are cliarged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial slateinents.
Further explanation of the natui'e and purpose of each fund is included in the noles to tlie financial
stat¢inenis.
(c) Ineome recognition
All incoming resources are includ¢d in the Statement of Financial Activities (SOFA) when the charity
is l¢gally entitled to the incoine after any perfonnance conditioiis have been met, the amouiit cali be
measuied reliably and it is probable that th¢ income will b¢ received.
19
contiiiued...

wer Ormeau Residents Action Grou
Notes to the Financial Statenjents - continued
for Ihe Year Ende
l March 2024
ACCOUNTING POLICIES - continued
Summary of significant accounting poli¢les
For donations to b¢ recognised th¢ chai-ity will have been notified of the amounts and the s¢ttlem¢nt
dat¢ in writing. If ther¢ are conditions attached to the donatioii and this requir¢s a level of
p¢i'fomiance before entitleinent can b¢ obtained then income is deferred until thos¢ conditions are
fvlly met or the ￿lfIlment of those conditions is wlthin the coiitrol of the charity and it is probabl¢
that they will be fulfilled. Voluiilary 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 re¢ognis¢d when received.
Donated facilities and donated professional servi¢¢s are recognised in income at their fair value when
their ¢conomi¢ ben¢fit is probable, it can be ineasured reliably, and lh¢ charity has conlrol over th¢
item. Fair value is det¢niiined oil th¢ basis of the value of the gift to the charity. For example, the
amount the charity would b¢ willing to pay in the open market for such facilities and services. A
corresponding amount is recognised in expenditure.
No amount is included in ihe financi81 statements for volunteer time in line with the SORP (FRS 102).
Further detail is given in the Trustees, Annual Report.
For legacles, entitlcment IS the earlier of the charity being notified of an impending distribution or the
legacy being received. At this point incoine is recognised. On occasion legacies will be nolified lo the
charity however it is not possible to measure the amount expected to b¢ distributed. On th¢se
occasions, the l¢gacy is ti'eated as a contingent asset and disclosed.
Income from earned income includes income earned from fundraising ¢vents and earned incoine
activities to raise funds for the charity. Income is receiv¢d in exchange for supplying goods and
services in order to raise funds and is recognised when ¢ntitlcment has occurred.
The charity receives governi)ient grants which are detailed within the notes to these financial
statemenls. Income fi'om gov¢rnm¢nt and oth¢i' grants ar¢ recognised at fail- value when th¢ charity
has entitlement after aiiy perfoniiance conditions have been met, it is probable that the income will bc
received, and the amount can be measured reliably. If entitlement is not met, then these amounts are
defeffed.
(D) Expenditure recognition
All expenditure is accounted for on an accruals basis inclusiv¢ of VAT which cannot be recovered
and lias been classified under headiiigs that aggregate all costs related to the category. Expeiiditure is
recognised wh¢re there is a legal or constructiv¢ obligation to make payments to third parties, it is
probable that the settlement will be required, and the amount of lh¢ obligation can be measured
reliably. li is categorised under the following headings..
Costs of raising funds includes th¢ costs associated with attracting voluntary incomes.
Expenditure on charitabl¢ activities includes those costs incurred by the charity in ilie delivery of its
activiti¢s and services for its beneficiaries. It includes both costs that can be allocated directly to such
activities and those costs of an indii'ect nature necessary to support tliem. and
Other expenditure represents those iteiiis not falling iiito th¢ categories above.
ILTecoverable VAT is charged as an expense against the activity for wliich expenditure arose.
20
continued...

Lower Ormeau Residents Action Grou
Notes to the Financial Statements - continued
f r the Year Ended 31 March 2024
ACCOUNTING POLICIES - continued
Summary of significant accounting policies
Grants payable to tliird parties are within the charitable objectives. Where unconditional grants are
offered, this is accrued as soon as the recipient is iiotified of th¢ grant, as this gives rise to a
reasonable expectation that ihe recipient will receive the grants. Where grants are conditional relating
to perforniance then the graiit is only acc￿ed wheii any Un￿lfIlled 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, governanc¢ costs, administrative payroll costs. They are incurr¢d
directly iii support of expenditure oli lh¢ objects of the charity and include project manag¢inent
arried out at Headquarters. Wh¢re support cosls cannol b¢ directly attribuled to particular headings
they have been allocated to cost of raising funds and ¢xpenditurc on charitable activities on a basis
consistent with us¢ of tlie resoui'ces. Premises overheads have been allocated on an insert detail basis
and other overheads have been allocated on a basis consistent with the usc of resources.
Fund-raising costs are ihose incurred in seeking voluntary contributions and do not include the costs
of diss¢tninating inforn]ation in support of the charitable activities.
(Q Tangible fixed assets
Tangible fixed assets are stated at cost less a¢¢umulat¢d depreciation and accumulated iinpainneiit
loss¢s. Cost includes costs directly attributable to making th¢ asset capable of operating as inteuded.
Dcpreciation is provided on all tangibl¢ fixed assets, at rates calculated to writ¢ off th¢ Cost, less
estiniated residual value, of each assel on a systematic basis over its expected useful life as follows..
Land & Buildings
4/0 Straight llne
Fixtures and fittings 250/0 Reducing Balance
Compuler Equipm¢nt 250/0 Reducing Balanc¢
Motor Vehicles
250/0 Reducing Balance
Sports Project
25 /0 ReducAng Balance
(g) Financial Instruments
A financial asset or a fiiiancial liability is recognised only when the charity becomes a party to th¢
ontractual provision of the instiument.
Basic financial instNnients are initially recognised at the amounls r¢r¢ivable or payable including any
related ti'ansaction costs.
Cu￿ent assets and CUiTent liabilities are subsequ¢iitly measured at the cash or other consideration
¢xpected to be paid or r¢lived and not discounted.
Debt instruments ar¢ subsequeiitly in¢asiired at ainortised cost.
21
conlinued...

Loiver Ormeau Residents Action Grou
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
ACCOUNTING POLICIES - continued
Summary of signRficant accounting policies
Whe1¢ investments in shares are publicly traded or their fair value can othenvise be measuied
reliably, the investment is subsequeiitly measured at fair value with chatiges in fair value recognised
in illcome and expenditure. All other such inveslinenls are subsequently measurcd at cost less
impaim]ent.
Other financial instruments, including derivatives, ar¢ initially recognised at fair value, unless
paymeni foi. an ass¢t is def¢rr¢d beyond nomial busl Thess temis or financed at a rate of interest that is
not a inarket rate, in which case the asset is measured at tlie present value of the future payinents
discounted at a market rate of interest for a similar d¢bt instrument.
Other financial iiistrunients are subsequ¢iitly m¢asured at fair value with any changes reco￿lS¢d in
th¢ statement of financial activities, with the exception of hedging instruments in a designed hedging
relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objectiv¢ evidence of
impaiirnent at the end of each reporting date. if ther¢ is objective evidence of impainncnt an
impaimient loss is recognised under tli¢ approprTrate heading in tlie stat¢iMent of financial activities in
which th¢ initial gain is recognised.
For all equity instruinents regardless of significance, and other financial assets that ar¢ individually
significant, thes¢ are assessed individually for impainn¢Tht. Othei. financial assets are ¢ither assessed
individually or grouped on the basis of similar credit risk characteristics.
Any i'eversals of impainnent are recognised immediately, to tlje extent thal the reversol does nol r¢sult
in a carryfftng amount of the financial asset that exceeds what th¢ carrying amount would have been
had the impainnent not previously been recognised.
(h) Impairment
Ass¢ts not measured at fair value ar¢ reviewed for any indication that the asset may b¢ impaired at
each balance sheet date. If such indication exists, the recoverabl¢ amount of tlie asset, or the asset's
cash generating unit, is estimated and compared to the Ca￿Ing amount. Where the carrying amount
exceeds its recoverable amount, an iinpaiment loss is recognised in profit or loss unless tlie asset is
carried at a revalued amount where the impaimi¢nt loss is a revaluation decrease.
(i) Provisfions
Provisions are reCo￿liS¢d when the chaTity has an obligation at the balance sheel date as a rcsult of a
past event, it is probable Ihat an outflow of economic benefits will b¢ required in s¢tilem¢nt and the
amount caii bc reliably estimated.
(i) Leases
Assets acquired under financ¢ leases are capitalised and depreciated over the shorter of th¢ lease terni
and the expected useful life of the asset. Miiiiniuiii lease payineiils are apportioned b¢tween the
finance charge and the reduction of ihe outslanding lease liability using the ¢ffectiv¢ interest method.
The related obligations, net of fu￿re finaiice charges, are included in creditors.
22
continued...

Lower Ormeau Residents Acthon Grou
Notes to the FinAneial Statements - contin ed
ror the Y ar Ended 31 March 2024
ACCOUNTING POLICIES - continued
Summary of significant accounting policies
Rentals payable aiid receivable under opeiBting leases are charged to the SOFA on a straight line basis
over the period of the leas¢.
(k) Tax
No provision is required for taxation as the coinpany is defined as a charity for taxation purposes.
The charÉty is a registered charity and so such is entitled to certain tax exeinptions on income and
profiis from investtnents and Surpluses on any earned income activities carried on in furtherance of
th¢ charity's prlmary objectives. if thes¢ profits atLd surpluses are applied solely for charitable
purposes.
(l) Going concern
Th¢ financial statem¢nts have bc¢n prepared on a going concern basis as the Irustees believe that no
Inaterial un¢ertainti¢s ¢xist. Th¢ trustees have considered the level of funds Iield 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 reserv¢s for the cliarity to be able to
continue as a going concem.
(m) Judgements estimates
The following judgements including those involving estimates tliat hav¢ been niade in the process of
applying the above accountÉng policies that have had the most significant effect on the amounts
i'ecognised in the finai)cial stateinents and that liave a significaiit risk of causing a material adjustsn¢nt
to the canying amounts of assets and liabilities within the next financial year:
(i) depreciation iiiethod and asset useful lfives
(li) principal assumptions used to ineasure inulli-einploy¢i- defined benefit pension sch¢mes'
liabilities, sensitivities to changes in assuinptions and fumre funding obligations
The estiinates and assuinptions ar¢ reviewed on an ongoing basis considering the current and future
mark¢t conditions.
Pension costs and other post-retirement benefits
Tlje charitable company operates a defined contribution pension sch¢me. Contributions payable to
the charitable company's pension scheme ar¢ charged to the Stateiiient of Financial Activities iii the
period to which they relate.
Income
All income is recognised in the Statement of Financial Aclivilies once the charity has eiitiilein¢nt to
the ￿nds, it is probable that the income will be received and the ainount can b¢ measur¢d reliably.
Expenditure
Liabilities are recognised as expenditure as soon as iher¢ is a legal or constructive obligation
coirnnitting the charity to that expenditure, it is probable that a trai)sfer of ¢¢onoinic benefits will bc
required in settlement and the amount of the obligation can b¢ measui'¢d i'eliably. Expenditure is
ccounted for oil an accI￿alS basis and has been classified under headings that aggregate all cost
related to the category. Wl)ere cosls cannot bc directly atlributed to particular headings they have
been allocated to activities on a basis consistent witli Ilie use of resources.
23
contiiiued...

Loiyer Ormeau Resldents Action Grou
Notes to the Financial Statenients- continued
for the Y ar Ended
l March 2
24
ACCOUNTING POLICIES - continued
Share capital
The Company in Limited by Guarantee and has no Share Capital
Fund accounting
The Charity has various types of thnds for which it is responsible, and which require separate
disclosure. These are as follows:
(i) Rcstricted Funds
Grants or donations received, which are eamarked by the donor for specific purposes wiihin the
overall aims of the organisation.
(li) Unrestricted Funds
Funds which al'e expendable at tlie discretion of the Dir¢¢tors in furtherance of the objects of the
charity. Such funds inay be held in ordei. to finance capital investm¢nt aiid working capital
DONATIONS AND LEGACIES
31.3.24
31.3.23
Donations & Fundraising
1.254
307
EARNED INCOME
31.3.24
31.3.23
Project EThty Fees
Drink Sales Commission
Dance Studio
Gyni
3G Pitch
Main Hall
CRI Building Rent
Rent 13R Riv¢r Terrace
St Malachys Playgroup
Manageinent Fees
Co-Op¢ration Ireland
Todds Leap
7,360
1,488
8,789
47,759
58,477
23,021
13,550
2,600
6,799
7,240
3,214
4,384
2,416
8,580
50,435
46,721
14,566
6,250
5,400
4,664
6,044
6,000
2,814
180,297
158,274
24
continued...

Lower Ormeau Residents Action Grou
Notes to the Financial Statements- continued
f r the Year Ended 31 March 2024
INCOME FROM CHARITABLE ACTIVITIES
31.3.24
31.3.23
Activity
Grants Receivable
Grants
832,114
957,716
Grants received, included ii) the above, are as follows:
31.3.24
31.3.23
Belfast City Council - Revenue
BHSCT
Publi¢ Health Agency
Early Years - Pathway fund
Coiilliiunity Foundation NI
NI Housing Executive - General
Active Belfast
Belfast City Council - Small Projects
Belfast City Couijcil - (Capacity Build)
Bclfast City Council - Business Cluster
Belfast City Council - Good Relations
Department of Communities {DFC)
Th¢ Execulive Office - TEO
Educalion Authority - Belfast Region
Belfast City Council - Summer Schem¢
Jog Belfast
Bogsid¢ and Brandywell Health Forum
Fonvard South Dev. Funds
Fcil¢ An Phobail
Belfast City Council - Covid Podium 4 Sports
Clamnill Housing for Health
Belfast City Council - (Medium)
Belfast City Council - (Africa Cup)
Public Health Agency - Healthwise
Urban Villages
Healthy Living Allianc¢ (Pain)
IFA
Corrymeela Project
Queens University
Belfast City Council - ADF
Belfast City Council - Fuel Support
Belfast City Coujicil - Aclive Belfast
B¢lfast City Council - Emerging Needs
Belfast City Council - Micro
Keep Nl (KNIB)
Sport NI
The Hai'bour Commission
Belfast City Council - SSF
Belfast City Council Uplift
69,944
177.746
87,910
30,000
49,101
9,148
64,346
153,588
52,260
29,993
49,101
4,837
10,624
2,924
42,000
19,621
3,730
106,116
46,987
11,942
2,500
6,000
48,221
11,242
3,053
24,000
3,000
4,120
1,600
39,996
9,512
85,298
529
18,198
1,000
l4,728
69,677
2,716
50,483
6,961
118,463
44,910
11,659
6,000
12,728
2,239
5,312
21,682
80,365
12,092
1,483
1,476
1,400
1,186
500
9,800
1,000
6,106
23,590
3,087
832,114
957,716
25
continued...

Lower Ormeau Residents Action Grou
Notes to the Financial Statements - continued
for the Year En
d 31 March 2
24
CHARITABLE ACTIVITIES COSTS
Support
costs (s¢¢
note 6)
Direct
Costs
Totals
Direct Charitabl¢ Expenditure
Governance
1,016,096
1,016,096
31,002
31,002
1,016,096
31,002
1,047,098
SUPPORT COSTS
Governance
costs
Governance
31,002
NET INCOMEI(EXPEIYDITURE)
Net income/(expenditur¢) is stated after chargingl(crediting):
31.3.24
31.3.23
Accounlancy
Audit Fee
Depreciation - owned ass¢ts
2,400
3,000
20,625
2,000
2,662
22,396
TRUSTEES, REMUNERATION AND BENEFITS
There were no trnstees, reinuneration or other benefits for the year ended 31 March 2024 nor for the
year ended 31 March 2023.
Trustees, expenses
Thei'e were no trustees, expenses paid for the year ended 31 March 2024 nor foi. the year ended
31 March 2023.
26
continued...

Lower Ormeau Residents Action Grou
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
STAFF COSTS
31.3.24
31.3.23
Wages and salaries
Social security Costs
Other pension costs
502,084
31,126
7,999
480,802
29,044
6,565
541,209
516,411
Tlie average monthly number of einployees during the year was as follows:
31.3.24
25
31.3.23
26
Manageinent & Administration
No employees received emoluments in excess of £60,000.
The key managcm¢nt personnel of thc charity coinprise of the Chief Ex¢cutive and Senior
management team. The salaries paid io key Inanageinent personnel being the Chief Executive Offic¢r,
Programme Co-ordinators and Financ¢ Manager, during th¢ year totalled £175,970. (2023.. £190,595).
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
R¢stricted
funds
funds
Total
fuiids
INCOME AND ENDOWMENTS FROM
Donations and legacies
307
307
Charitable activities
Grants Receivable
i 0,000
947,716
957,716
Earned Income
158,274
158,274
Total
168,581
947,716
1,116,297
EXPENDITURE ON
Charitable aetfivities
Dir¢¢t Charitable Exp¢nditure
Governance
168,490
22,083
943,240
1,111,730
22,083
Total
190,573
943,240
1,133,813
NET INCOMEI(EXPENDITURE)
(21,992)
4,476
(17,516)
RECONCILIATION OF FUNDS
Total ￿ndS brought fonvard
593,000
3,044
596,044
27
continued..

Lower Ormeau Resfidents Action Grou
Notes to the Financial Statements- Continued
ror the Year Ended 31 March 2024
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued
Unrestricted Restiicted
funds
funds
Total
nds
TOTAL FUNDS CARRIED
FORWARD
571,008
7,520
578,528
11. TANGIBLE FIXED ASSETS
Sports
Equipment
Land &
Buildings
Coinputers
& Equipment
COST
At l April 2023
Additions
2,442,960
1,192
185,575
91,314
136
At 31 March 2024
2,444.152
185,575
91,450
DEPRECIATION
At l April 2023
Charge for year
2,404,207
9,100
44,538
7,423
86,354
2,161
At 31 March 2024
2,413,307
51,961
88,515
NET BOOKVALUE
At 31 Marcli 2024
30,845
133,614
2,935
At 31 March 2023
38,753
141,037
4,960
Motor
vehicles
Fixtures
& Fitting5
Totals
COST
At l April 2023
Additions
15,519
5,689
6,295
2,741,057
7,623
At 31 March 2024
15,519
11,984
2,748,680
DEPRECIATION
At l April 2023
Cl)arg¢ for year
15,519
4,485
1,941
2,555,103
20,625
At 31 Marcli 2024
15,519
6,426
2,575,728
NET BOOK VALUE
At 31 March 2024
5,558
172,952
At 31 March 2023
1,204
185,954
28
contiiiued...

Loiyer Ormeau Resfidents Action Grou
Notes to the Financial Statements - continued
for th Year Ended 31 March 2024
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24
31.3.23
The Executive Offic¢
HLA (Pain)
Fell¢ An Phobal
Belfast City Council
Community Foundation
PHA
Spoits NI
Dept of Communities
CRI Building- Rent
Other Grants Due
Prepayin¢nts and accrued income
69,239
(5,194)
5,292
6,491
49,101
35,178
3,053
21,373
30,376
9,800
17.237
6,250
30,122
10,000
20,395
17,659
10,105
203,105
133,372
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24
31.3.23
Social s¢¢urity and other taxes
Cr¢dit Card
COronavi￿S BBL (Loan)
Pension
Accruals
7,729
7,301
22,418
4,416
5,670
2,104
9,103
32,357
2,390
5,190
47,534
51,144
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.3.24
Total
funds
31.3.23
Total
funds
Unrestricted Restricted
funds
funds
Fixed assets
Current assets
CuLTent liabilities
148,477
444,152
{47,534)
24,475
(24,475)
172,952
419,677
(47,534)
185,954
443,718
(51,144)
545,095
545,095
578,528
29
continued...

Lower Ormea
Residents Action Grou
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
15. MOVEMENT IN FUNDS
Net
movement
in funds
Transfers
betw¢¢n
funds
At
3113124
At 114123
Unrestrlcted funds
General Fund
Designated Fund
175,008
396,000
(25,913)
231,000
(231,000)
380,095
165,000
571,008
(25,913)
545,095
Restricted funds
Department of Communiti¢s (DFC)
7,520
(7,520)
TOTAL FUNDS
578,528
(33,433)
545,095
30
continued...

Loiver Ormeau Residents Action Grou
Notes to the FinAncAal Stat
ments- continued
for the Year End
l March 2024
15. MOVEMENT IN FUNDS - continued
Net movement in funds, includ¢d in the above ar¢ as follows:
Incoming
resources
ReSoU￿eS
expend¢d
Movemeiit
in funds
Unrestricted funds
General Fund
BHSCT
181,551
177,746
(207,464)
(177,746)
(25,913)
359,297
(385,210)
(25,913)
Restricted funds
Belfast City Coui)cil -Rev¢iiue
Early Years - Pathway ￿nd
Public Health Agency
Community Foundation Nl
Nl Housing Executive - General
Belfast City Council - Small Projects
Belfast City Council - (Capacity Build)
Belfast City Council - Good Relations
Departmenl of Communities (DFC)
The Executiv¢ Office - TEO
Education Authority - Belfast Region
Jog Belfast
Fonvard South Part Dev. Funds
Feile An Phobail
Belfast City Council - (Medium)
Urban Villages
Healthy Living Alliance (Pain)
C011ymeela Project
Belfast City Council - Active Belfast
Belfast City Council - Fuel Support
Belfast City Council - SSF
69,944
30,000
87,910
49,101
9,148
2,716
50,483
6,961
118,463
44,910
11,659
6,000
J2,728
2,239
5,312
21,682
80,365
18,198
1,476
1,483
23,590
(69,944)
(30,000)
(87,910)
(49,101)
(9,148)
(2,716)
(50,483)
(6,961)
(125,983)
(44,910)
(11,659)
(6,000)
(12,728)
(2,239)
(5,312)
(21,682)
(80,365)
(18,198)
(1,476)
(1,483)
(23,590)
(7,520)
654,368
(661,888)
(7,520)
TOTAL FUNDS
1,013,665
(1,047,098)
(33,433)
31
contiiiued..

Lower Ormeau Residents Aetion Gro
Notes to the Financial Statement$ - continued
f r Ihe Year Ended 31 March 2024
15. MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
Net
movement
in ￿ndS
Trai)sf¢rs
belw¢en
funds
At
3113123
At 114122
Unrestricted fuiids
Geiieral Fund
Designated Fund
489,000
104,000
(21,992) (292,000)
292,000
175,008
396,000
593,000
(21,992)
571,008
Restricted funds
Capilal Grant Fund
Departinent of Communities (DFC)
3,044
(3,044)
7,520
7,520
3,044
4,476
7,520
TOTAL FUNDS
596,044
(17,516)
578,528
32
continued...

Lower Ormeau Residents Action Grou
Notes to the fi inancial Statements - continue
ror the Year Ended 31 March 2024
15. MOVEMENT IN FUNDS - continued
Comparativ¢ net movement in funds, included in the abov¢ are as follows:
Iticoining
resources
R¢soiirces
expended
Moveinent
in funds
Unrestricted funds
General Fund
Harbour Commission
Clanmill 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 -Revenu¢
BHSCT
Early Years - Pathway fund
Pubkic Health Agency
Community Foundation Nl
NI Housing Executive - General
Active Belfasl
Belfast City Council - Sinall Projects
Belfast City Council - (Capacity Build)
Belfast City Council - Business Cluster
Belfast City Council - Good Relations
D¢parttnent of Communities (DFC)
The Executive Otyice - TEO
Education Authority - Belfast R¢gioi)
Belfast City Council - Summ¢r S¢heine
Bogside and BraTrdywell Health
Forward South Part D¢v. Funds
Bclfast City Council - Covid Podium 4
Sports
Feile An Phobail
Belfast City Coun¢iR - (Medium)
Belfast City Council - (Africa Cup)
Public Health Agency - Healtliwise
Urban Villages
Healthy Living Allianc¢ (Pain)
IFA
Coriymeela Proj¢ct
Belfast City Council- ADF
Queens University
Belfast City Council - Fuel Support
Belfast City CouncAI - Emerging Needs
Belfast City Council - Micro
Keep Northeni Ireland Beautiful
Spoit NI
Belfast City Council Uplift
(3,044)
(64,346)
(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)
(48,22 l )
(11,242)
(3,044)
64,346
153,588
29,993
52,260
49,101
4,837
10,624
2,924
42,000
19,62E
3,730
106,116
46,987
11,942
2,500
48,221
I I,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
3,087
(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)
(3,087)
947,716
(943,240)
4,476
33
continued...

Lower Ormeau Residents Action Grou
Notes to the Financial Statements- eontinued
for the Year Ended 31 March 2024
IS. MOVEMENT IN FUNDS - continued
TOTAL FUNDS
1,116,297
{1,133,813)
(17,516)
16. CONTINGENT LIABILITIES
A contingent liability exists to repay grants received should certain condltions not be fulfilled by the
charity.
17. COMPANY CHARGE
On 12 February 2024 an all nionies charge was created by The Executive Office.
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
19. POST BALANCE SHEET EVE]YTS
There were no events after the reporting period therefore no rnaterial issues n¢ed disclosed.
20. DESIGNATED FUNDS
In accordance with best practice the company directors have agreed a comprehensive reserves policy.
As siich, the designated fund is the result of the company's strategic objective to establish rcs¢rves
which can be used to fund futui'e expenditure on refurbishm¢nt or replacement of capital iteiiis. Such
capital iteftns include lh¢ football pitches, IT Systems and gym ¢quipm¢nt, along with ancillary
running costs.
The aini is also to provide sufficient funds to covei. any working capital r¢quir¢ments associated with
receiving graiit funding in arrears, any unforeseen costs which may arise, as well as allowing for th¢
payment of any liabilities which would arise should the coii)pany cease to operat¢. Although Lower
Orn]eau Residents Action Group may not be in a position to tnaintain this level of reserves at a
particular point in time, it will strive to achieve a reserve which equates lo this level.
D¢signatcd funds ar¢ made up as follows -
3110312024
Running Costs
Pitch ca￿et Replacement
Replacement Gym Equipment
Maiiitenance IT Systeins
Non Fund¢d Salaries
50,000
35,000
20,000
20,000
40,000
(3 Years )
TOTAL
165,000
The trustees previously designated uiresti'icted funds of £186,000 for the purchase of the Johii
Murray Lockhouse for the development as a Heallhy Hub, providing 2 significant activity studios,
conf¢reiice room, café, calering kitcliet) to undertake hospitality aiid healthy eating training services.
34
continued...

Lower Ormeau Residents Action Grou
Notes to the Financial Statements - contiiiued
for th Year End d
l March 2024
20. DESIGNATED FUNDS - continued
The Lockliouse will link with a cominunity gai'den, poly-lunnel and shed, providing much needed
access to greeii spaces.
The build element is to be project maiiaged by Belfast City Council in line with Urban Village Capital
programme.
Following suc¢¢ss￿l tender proc¢ss BCC and LORAG jointly appointed Hugh J
O'Boyle as the lead contractor witli construction to comm¢n¢e in March 2024 and completion set for
April 2025.
Total construction budget has been set at £2.9 million. Project ￿nderS in order of ￿ndS are The
Executive Office / Urban Villages, Department for Communiti¢s, Departm¢nt for Environment Green
& Blue Ways, Belfast City Council & Ulster Gardeii Villages.
LORAG'S contribution of £186,000 for the initial purchase of the property will fomi part of a title
deed of covenant with The Executive Office for a period of 25 years.
The final phase 4 of the ov¢rall development will see the delivery of a footbridge and slipway
providing a new public river access point, linked to a nearby boat storage area secured by LORAG
within a 99 y¢ar lease for th¢ site at a purchase cost of £12,000.
St John Vianney is lh¢ parish-bas¢d Youth Club respoi)sible for the delivery of cor¢ area-based youth
services since 1984. The setting closed in September 2023 following a Change in the EA funding
Inodel for the voluntary youtli sector. Reduced funding coupled with aging committee membership
saw the decision by the parish not to continue the service which signalled the closure of the Centre.
Following a community public meeting LORAG was tasked wilh retaining the EA area-based youth
service ￿TrdIng and th¢ prolection of youth facility for the futur¢ delivery of the service. LORAG has
engaged S¢ctor 3 Solutions to undertake an independent assessinent of Th¢ed for the servic¢s and to
examine possible future delivery niodel for th¢ service. This is likely to I'esult in a commitment from
LORAG to future support the development of any new model for the delivery of the service.
LORAG rcmains conscious of ih¢ ongoing cost of living crisis and the iinpact this is having for the
delivery of community services and the impact this is having for local families. LORAG will
contfftnue to act as the Lower Onneau lead for delivery of any relief services that Inay be made
availabl¢ by statutory agencies as we did during the Covffid crisis.
LOIL4G also reniain alert to the legacy of the Covid crisis aiid the iinpacl tliis has had on coinmunity
wellb¢ing and th¢ delivery of Community health r¢lated services.
35
contiiiued...

Loiver Ormeau Residents Action Grou
Notes to the Fxnancial Statement
- continued
for th Year En
ed 31 March 2024
21. WtNDING UP
Every member of th¢ Company und¢rtakes to contribute to the assets of tlie Company, in the event of
the same being wound up while it is a meinber, or witliin one year aftei. it ceases lo be a meinber, for
payinent of the debts ai)d liabilities of the Coiiipany contracted before it ceases to be a inemb¢r, aiid of
the costs, charges and expenses of winding UP> and for the adjustinent of the rights of the contributoi s
ainong themselves, such amount as may be required not exceeding one pound.
22. SHARE CAPITAL
Tlie Company is Limited by Guarantee aiid has no Share Capital
36

Loiy
r Ormeau Residents Action Grou
Detailed Statement of Financial Aetivities
for the Year Ende
l March 2024
31.3.24
31.3.23
INCOME AND ENDOWMENTS
Donatlons and legacies
Donations & Fundraising
1,254
307
Earned Income
Project Enty Fe¢s
Drink Sales Commission
Danee Studio
Gym
7,360
1,488
8,789
47,759
4,384
2,416
8,580
50,435
É li
3G Pitch
Main Hall
CRI Building Rent
Rent 13R River Terrace
St Malachys Playgroup
Management Fees
Co-Op¢ration Ireland
Todds Leap
58,477
23,021
13,550
2,600
6,799
7,240
3,214
46,721
14,566
6,250
5,400
4,664
6,044
6,000
2,814
180,297
158,274
Charitable activities
Grants
832,114
957,716
Total incoming resources
1,013,665
1,116,297
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Ral¢s and water
Insui?nc¢ Premium
Electiicity
Telephon¢
Printing and Stationery
Support Costs
Heating Costs
Minbus Expenses
Computer and IT
Advertising and Publications
Carried fonvard
502,084
31,126
7,999
2,944
8,801
27,583
5,368
6,271
480,802
29,044
6,565
1,414
4,241
30,095
2,570
7,507
915
18,505
3,298
10,030
1,915
596,901
25,645
4,363
7,243
1,046
630,473
Tliis page does not fonn part of the statutory financial statements
37

Lower
rmeau Residents Actlon Grou
Detailed Statement of Financial Activities
ror the Y ar Ende
31 March 2024
31.3.24
31.3.23
Charitable activitles
Brought fonvard
Unifoiins
Travelling
R¢pai13 and Maintenance
Licens¢ Fees
Urban Villages Lagan
H¢alth Proj¢ct Costs
Queens Ethnic Minority
Older & Active Project
PHA Pi'oj¢¢t
Co-operation Ireland Project
BCC Covid Sports Packs
BCC Asylum Dispersal
Jog Belfast Project Cost
Community Fund Project (PCSP)
BHSCT
Events
Nl Housing Ex¢cuÉive
Cliildrcn's Projcct Costs
HLA Pain Allianc¢
Small Projects Cost
Corrymeela Pi'oject Costs
Fonvard South Dev Fund Project
Youtli Project Costs
Community Foundation
Clanmil Housing Project
Sports NI
LOTA Project Costs
SBDF- Project Costs
Educalion Authoi'ity Belfast Region
TEO Project Costs
Feile An Phobail Project
BCC Winter Vouchei. Support
BB Health Project Cosls
Depreciation
630,473
2,243
95
20,961
159
5,248
596,901
4,199
24,085
11,138
1,720
862
13,243
5,547
8,046
,641
24,000
7,460
2,005
13,168
107,630
5,977
6,264
21,621
60,603
10,610
16,754
7,230
19,234
19,404
9,181
2,090
97,090
9,928
13,947
29,878
3,507
10,895
5,440
26,559
54,946
6,418
9,980
760
1,356
5,403
12,197
5,292
23,780
4,032
20,625
13,868
13,278
3,653
65,422
7,384
22,396
1,016,096
1,111,730
Support costs
Governance costs
Accountancy
Audit Fee
Carried fonvard
2,400
3,000
5,400
2,000
2,662
4,662
This page does not forni part of the statutory financial stalements
38

Low
r Ormeau Residents Action Grou
Detailed Statement of Financial Activities
for the Y ar End d 31 March 2024
31.3.24
31.3.23
Governance costs
Brought forward
Cleaning and Consuinables
Professional aiid Legal Fees
Bank Charges
5,400
9,188
12,839
3,575
4,662
8,696
4,998
3,727
31,002
22,083
Total resources expended
1,047,098
1,133,813
Net expenditure
(33,433)
(17,516)
This page does not fom part of the statutory financial statements
39