Company registration number.. NICI 04998 Clwily regi8tralion numb¢r'. XN45105 Belfast Charitable Society Truslc¢s Rcport and Lonsolidalcd Itirbancial Stalemenls for the Ycar F.nded 311 Sepleinber 2U24
Belfast Charitable Society Contents Reference and Admini8tralive Details Trustees. Report 2toll Indepcndent Auditors, Report 12to 14 Cons01idatcd Statement of Financial Activities 15to16 Consolidated Balance Sheet 17 Balance Sheel 18 Consolidated Statement of Cash Flows 19 Noies lo thc Financial Statements. 201029
Belfast Charltable Soclety Reference and Administrative Details Chglrmydn Mr D Watt¢rs FCA Prol- A Adair Resigned March 2024 Elected March 2024 President Sir Ronald Weatherup Board member8 Prof A Adair Mr A Bennett Elected 13 March 2024 Mr G Bradley Mr Mark Glover Elected 13 March 2024 Elcclcd 13 MarLh 2024 Mrs S Brown Mr lan Elliott Died Dccember 2023 Mr C Graham Mr M Higgins Mr A moneennY Mrs F. Mooney Mrs N Sintt Re4igncd 13 March 2024,. DiLd July 21124 F.IcctLd 13 Mdrch 2024 Mr F) Watters FCA Retired 13 March 2024 Honorary SecretAry Mr C (yraham Elecled March 2024 Trc4surer Mr A Moneypcnny Mr lan Elliot Resibyned March ?024 Died Dcccmbcr 2023 Charltv Regfistratlon Number XN45105 Comp4ny Reg15tratlon Number NIC104998 PrineipAI office and registered Clifton Elouse 2 North Queen Strcet Belfas1 BT15 IES Auditor RBCA Limited Linenhall Ex¢h4mge 26 Lincnhall Strcet Belfast BT2 8EIG Sollcltors Crawlord, Lockheart, Black Solictlor5 711 l Linenhall Street Bclfa.%t BT2 8AA Binker5 Danske Bank Di)negTal Square West BLlÉa81 BTI 6JS
BeEfast Charltable Society Trustee's Report The Board prcsenL8 Its annual report and financial statcmcnls for the year ending 10 Scptember 2024. The Board ha% ddupled the pruvisiun of the Statemenl of Recommended Practicc ISORPI Accounls and Reporting by Charities IFRSI 02) Refer¢Th¢e and 2dmln15trative details Belfast Charitable Society is registcred as a charity with HMRC (Charity Registration no XN45101). Th¢ charity registered with the Charity Commi58ion for Northern Freland on 25 April 2016 (NIC 1049951}. Its principal office and r¢gistcred office is L lifton House, 2 North Quecn Street, Belfast BTI 5 1 ES. The Truslees and officers that have s¢rvcd during the ycar and since the year end '¢re as follows.. President Sir Ronald Wcatherup Truslees Prof A Adair Mr A Bennett (Elected 13 March 2024) Mr C) Bradley (F.lecied 13 March 2024) Mr Mark (ilover (Elecled 13 March 2024) Mrs S Brown Mr lan Elliott (Died December 2023) Mr C Graham Mr M Higgins Mr A M(In¥ypcnny (Resigned 1.1 March 2024. Died July 2024 Mrs F. Mooney (FleLled 13 MarLh 2024) Mr5 N Sintc Mr D Watters FCA {Retircd 13 March 2024) Chairnian Hon Secretary Hon Trcasurer Mr D Watters FCA IResigned March 20241 I Prof A Adair {Ele¢ted March 2024) Mr A Money'penny (Resign¢d Mar¢h 20241 Mr C Grahain (Elected March 2024) Mr lan Elliott (Died Dcccnibcr 2023) (David Watters had taken on the dutics in interim The Board wvye deeplv shocked and.Yoddened, since ihe lusi AGM, lo hear ofihe unÈimelv and sudden deaih ol. Iheir dear friend, colleague and Ilonorarv SeLrelary, Mr Alan Monevpenny on 26, Julv 2024. Objectives and aLtivities Bclfa5t Charitable Society IBCS} was sei up in 1752 to addrc35 poverty and look after th¢ poor orth¢ iown. BCS did this by buildin¥ the original poor house and the firs1 bospital in Belfast. This building, Clifton House, was opcncd in 1774 (250 years a¥ol and still rcmdins luday as Ihc city's oldcst working biiilding. with thc organisation being thL l)Ide81 charity irs Northern Irtylund. The So¥iety continues to addrest> poverty dtsadvantagc in many diilereni ways aLross Norihern Ireland. The objccls of Ihc Society set out in the 1996 Act of Parli3menl are: la) l(Tr pursue all or any Lharilabl¢ aLlivities which ddvanLL ihe inlcrcsls or arc for the h¢n¢fit ()f persons appcdring to thc Society to be disadvantaged, primarily in Northem Ircland. including the carc of the elderly. the relief of povcrty. homelessDe%s, distress, infimiiiy, and sickne55 and profv'iding for all the educational dnd other requirements of such persons- and (b) to participate in and encourage all forn)s of co-operation among apprupriatc parties which are CV¢lculated to achieve any of (he objLclivc5 mLntiuned in puragriiph la) above.
Belfast Charltable Society Trustee's Report Public Benefit Belfast Charitable Society continues to Lreate high l¢vels of public benefit through its key aLlivities (see 'Achievements and pcrfornianLe' section for more detdil). In this year, this can be evidenced Ihruugh- Its work lead and influence on how philanthropy is delivered and developed and as%i%i in the redislributlon of wealth to addres5 poverty. The Society deliver¢d 3 programme of grants lo.. irnprove employability by empow¢ring cducation bkills dcvclopmcDt' aDd to help new cornmuniti¢S iDt¢grat¢ Ihrough educalion and support serviccs. li developed and supported projects to alleviate the additional financial burden created by th¢ cost-of- living crisis including support for the provision of frec mcals within the primary and post primary schoolq setting across North Belfasf Thc Souiety uontinued to providc financtal support, skill¥, and knowlcdgc and to ledd a wider hLrilage l¢d rcgeiicralion projeut wilh Ihc North Belfast Heritage C.lustLr. Thereby u4ingy hcrildgFC J%sels, and encouraging others to ulilise theirs. Lo help catalyse physical. economic and social regencralion. It d¢liv¢rcd grants, funded by several donations. to provide aclivilics to reduce the isolation lelt by older peoplc. and support a rang¢ of burs8ries to help young pcoplc improve thcir opportunitie5 in employment and L.ducdlion. It supp()rted Clift(In House Centre helping it lo cducalc and inform membcrs of the publiu dbcbut philanthropy 8nd the influence the Socicty had in the developmenl of Belfasi and in addressing disadvantage since 1752. Thi% M'&5 ery important in what Wds 9 months of the 250, annivers41ry ycar ol. the House. It crcat¢d and rnaintained jobs and vulunt¢¢r posts. Interlinked with this, the Society fulfillcd ils custodial role bj. prc¥¢"rving and 5dfcguarding th¢ House and vast Archive colleciion, which are in turn usL'd to support work ot. its 80¢ial enterprise. It coniinucd lo develop its Mary Ann Mccracken Foundation and raise awareness of the life and work of one of Belfast's mosl significant social rcforniers and philanthropists. It ralsed awarcncss and promoted Lonverbiitions about her and thal c?f uihLr fLnialL' social r¢fc)m)crs of the time. Additionally. the Society utili5ed its property assets to facilitate ¢1 rangie of care for older people. Allowing cxpert pruviders t() leasc its buildings lo housL nursing rc5idcntial care and %uppurtLd living ac¢ommi)dalic)n. Cyrant M4kln% Policy HCS Liinlinucs lo support the wc)rk of oihers whu are (IddrLssing poverty and disadvantage. It does not nin an opcn grants programme bul instead assessc5 ways thal lis financial support can bc invested in order to makc the niosl po%ilive impacl on tho.se mo81 in need. The Society aligns its annual giving in the year to its investmenl return. However, given the pressures arising from the cosl-of-living increases on the local community, thc recognition that C lifton Housc rcdched 250 years old in the period. and an increase in bank intLrcst reLeived, the Tru&tLC5 agr¢ed to award d total of approximdtcly £210.000 in ¥rant5. In the year the Board also awarded an emergency fund ufju81 ()ver £155,000 io schools in N()rth Belfast Ic) provide school meals- scc point l e below.
Belfast Charitable Society Trustee's Report Achlevcments and performanee The following achievements and pcrforniance ref]eci the main expenditure in the year. Addresslng dlsadvAntagc through dlrect grant5: owerin educAtion - Dir r411t al Early Intervenilon work (Famllv Support Hub) During the period two family support workers were funded lo provide l-l support to parents in Iheir own home and support lo children ot. these lamilies either al home or in the school setting. The leaTn accepted referrals from both the Upper and Lower North Belfast Family Support14ubs. These hubs take a mulii-disLiplinary appr()aLh lo signposting families who d() not have slalul()ry social work inlcrvcnli()n. By thc end uf the fiinding ycar 75 familiL% had reLcivcd individual inlervenlions.. A2 parcnls and 157 childrcn. Of Ih¢%L children l 01 were expcricncing neurodiversiry. cithcr going through the ASD or ADHD as5essmcnl or had alrcady received a diagjnoqis. This equate¥ lo almost 65 /tt of children '1th whom Ihc team worked in Supporting ¢motional and bchavioiirdl ncc(Is. As nccdb bccomc morc complcx and mulii-fa¢¢t¢LI. th¥ Icam wurk murL clusLly with uihcr partncr a&FLnci¥% inlluding GPS, hLalth visitors, ILaLhcr and r.duLdli()nal W¢"IfurL OffiL¢r%. Thi inlLfvLnlions fr()m Ihe Icam with schools and cducalional psycholobTisls has b¢en invaluable as many of the families are lrying lo negoliate Ihcir way thrvu&,h a very complicated education31 reterral process. Outputs and OulLomes - This projccl exceeded expectslion$ by delivcring support lo 75 families - an incrcasc of 15 on the proposed turgei% 01.60. The %upporl bFiven lo the lJmilies had d Posltive impact on Idniily lite 'hiCh in turn b¢nLfittLd the wid¢r Nurth Bclfasi Lvmmunity. Familics havc stronbTCT links illio thc widlr Lommunily whiLh hd4 ILd li) grcater ci)mmunily prid¢. ooh¢si()n dnd u sen4L i)f bLI()nging. b) Mary Ann mccr41.ken Bur54ry Programme In this, the rhird ycar uf Ihiq bUrry programmc, 5 funders joined BCS namcly the Jam¢s Kane Foundalion, Mary Ann MLCrackcn Foundation, Hunier Smyth Fund, Raj Darshna Foundalion and the l.FT C'haritable Truql. Togcihcr their fundinby enabled each of the 12 North Bclfast post primary schools lo rcccivc £2,500 which was awardcd as bursaries lo 87 pupils. Thcsc lundcd with rcsourLcs. travcl and ac¢ommudation LOSIS for univcrsily,. preparalion costs to attend interviL'ws; truining und ¢mploymenl relatcd costs e.¥. building site cuiistruLlioii Lards. c) Norih Belfast Creatlve digltal Hub Thi.8 is a slale-of-lhe-art f&cility b&4ed at St Malachys College bringing iogether siudents from 4 North Bclf&st SLhools to develop digital skills and rcduLC barriers lo learning. The Society N'as in41rumenlal in il% e.%tabli4hment dnd contribu(cd io Ihc Los15 of cmploj'inu a CrL"iilii'c Technology L¢ad¢r and a CreY4tivc TcchnulowsL tbc buildin¥ refurbishmcnt. and thL' purihasL of furniturc and equiprn¥nt. Over 45 ieachcrs and almost l primary and post primary pupils from diverse backgrounds have madc usc of Ihc hub ()n a Lross LulLUlar basis. Th¥y h41VL mddL usc ufvR hcadscls (() expli)r¢ suLh Lhinys a8 a NuLILar Fissi()n re&clor. an active volcano. Ihe circulatory system. and scenes lo inspire creative writing. The equipment also inlornis the KS3 Digital Curriculum delikering specific courses such as Google Work%pa¢¢ Skills. Lego and MincLraft Loding,, Cyber Sclurity, App Dcsigm and An1110n. Thi5 has also had a posilivc influcncc on the niimbL'rs of 5tudLnts Lhnosingp CompuiLr SLILnLL for CJCSE whiLh has inLrca5Ld Signi filanily. ThL projccl has strong links wilh industry and Ulster Univcrgity and is attracting much inierc81 from other4 as4ociated with educational policy and provision.
Belfast Charitable Society Trustee's Report Outputs and Outcomes for 2023 - 2024: l)igilal R¢sourLes A teacher appoinl¢d13 days per wcekl to deliver the new KS3 curriculum. As a result Sl Malachy's dppoiiiled a full-time pernianent ICT teacher for KS4 and KS5 Computing in April. due lo the increasing nlllnbers chuosing such cour5CS. North Belfast Area Learning Connections - highlights included l6XYe l O Bclfast Boys Modcl 5tudcnts using thc hub - Oct 23 IApr 24 180xYear 9 Dominican c.ollege studcnls using tlii liub - Sep 231June 24. 80xYc2r 10 Bclfasl Modcl School for Girls Students using th¢ hub - Scpt 231June 24. C.ross•curriLular Usc of Digital Skill.slRes(>urLes Between May 2023 and June 2024, 27 diffcr¢nt 5ubjecl teachers in Si Malachy's Colleg¢ mad¢ u5¢ of the Creative Digital Hub within their subject. which gave rise to 3079 student visits. spanning y¢ar groiip%11-14. KS3 Digital Curriculum A total of 376 pupils were involved in 'learning the workings and uses, of Google apps which are ubiquitous acros5 the global workplace- learning basiL coding. cybcr 5c¢urity and bastc PC and Chr()mehi)4)k skill. inLluding typing. These digitlll ski114 reqiiired for 21 sl Lenlury empl()ymLlIt. dl5() includcd animation and app design. This all happen4 within a %lale-of-Ihe-arl robotics-based. 8am¢-bas¢d and selt-P4c¢d learning> environment th81 fully ciigagyes youn& people. d) The North Belfast Youth Choir The SoLiLty fuiidcd thL N()rth Belfasi Youth Choir. This choir Ihat LDn8iSts ()ver of 70 young peoplc from right acros5 Ihe area who avail of prote%8ional instruction and acce5S the hi&7hesl slandard ol- choral and music tuition. The choir ha% appeared on national and international stages and has encouraged members to forni tnendship whilst learning, performing, and travclling together. Logistical and finanLial barricrs to partlCiP81ion were rcmovcd, so ihal any young, person can Llljc?y 4111 thi b¢n¢fits NB YC niembLrship affords. NBYC h&$ now over scenty members. Flighlights from Ihc ycar includcd.. City of Dcrry International c'hoir Festival IN8tional Youth Chotr category winning 2nil plaLe) Mansion Hous¢ London. by invitation of the Lady Mayores5 - 26 pupils (curreni and alumni in the perforn)ancel DLLLmbLr, NB YC wer¢ inviled gueqLs at the annual Belfast Bc)ys' Miidcl C¢irol Service. 13th March 2024 accepied the invitation ol. Be1135t Chariiabl¢ Socicly lo sing ai their AGM. This was a150 a c¢lebration of ihe work of the Chair who was retiring after 12 yeaTS. Perforned for the publiL and invilcd ¥ucsts includin¥ Minister f4>r 1nfrd5iruLrC John O'Dowd at ihe opcftinLT of the new train station al York Sireet in April. Annual Spring Loncert May 2024 81 M¢r¢y College, guests inLluding Beif8St Lord Mayor. CounLillor Rydn Murphy. The final p¢rtormance of the year- Parliament Building, StOTmonl. NB YC perlormed to delegates trum across the world.ai th¢ Speakcr's Dinner. e) The CoStryr-LlVing Crisi5 Schools Support Fund An iniiialivc created by BCS to support food programmes in 27 primary .schools and 7 post primary schools in North Bellast. Schools in these communities have absorbed real-lemi Luts in their budgets and sut'lered disproportionally. Almost 12.0110 pupils bencfitt¢d from thi% projcci. This allowed th¢ Schools lo provide lood for hildrcn who Mrc expericnLing hunger. as part of a br¢akfast or lunch club. Funding this yedr wa& almosi doubl (hal of 2022 123 and thc lotsls arc dclailed below.
Belfast Charitable Society Trustee's Report Sufflmxr Number of Schoolq who received an award Total rovided b BCS Tolal roN'ided b other fundin Numbcr of pupi15 34 £155.544 £95 853 streams 5,512 0St rima Outcome5 Affurdabilily and benefits for par¢nts/ carcrs - 211 out of Ihe 34 schools nul¢d Ihi4 supporl ha5 been a lifclinL for PÉircnts, carers of the pupils. Nulriliuus MLal und Rcady to Learn 26 of ihL" 34 gLhools rcp()rled Ihcre was a direct link between impri)VLmLnl in f(Iciis and L()nccnlrati(Trn in lh¢ pupi14 who received a frce %Lh()ol m¢dl Impri)v¢d parcnl sch()ol relationship5 - Schools have also reported an improved relationship wilh parents as somL. have opened up aboul their financial %lru¥%les whil$l others have becomc more inv()Ived in In¢reJ%¢d altendanLc and puncluuliiy brcakfasl Llub. DcvclopLd Social Ski115 - thc progirammc al.so provided an opportunity lo build social skill.4 Ihrou¥h alndanci al th¢ brLukfa81 Llub or LanLc¢n ai lunchtime. altendanLe and punctuality has improved &8 pupils altend Ulyter Orthe%tr Crescendo Project The Soci¢ty part-fundeij the orL'he%tra lu divLI()p a projLLI f(>r a nLW cruss community Luhort of Lhildr¢n ag¢d I I from 4 schools in disadvantaged areas of North and West Bcifast. This involved workqhops in musicianship and insiruinenlal tuilion and perlorn)ing¥ alonbiside the Ul$ter Orchestra. BC.S fundin&T SUPPOrted the lir&t ever pl&y-Ihrough days for P7 pupi15 Wlth 120 pupi18 rehearsin¥ alongside ul.ster Or¢h¢5tra musicians. The culmindlion ol. th¢ 8¢ason look place on Ihe 13, June 2024 al Ihe Ulster Ilall,. P3 and P7 pupils pertomied with th¢ liill Ulsllr ()rLhLbtra i() #n uiidicncc nf 6110 peciplL. The s¥Lond Lvhort vl'142 P7 pupils will LvInpl¢te 7 y¢urs ijf musiLul LduLulii)n u.% parl ()r ihL Crend(l pr()¥rJinmL. BCS funding partnered with I I t)ih¢r fund¢rs wh()se lotJl conlribvlion was £65.091 g) BArone$s FllnTrd Rur$ary - FICS awarded Argyle Rusiness Centre a grant of £ 1,000 for the Baroness May Blu()d Third Level Educalion Bursary Programmc to crcale thc Mary Ann McC.rackcn Award. nltlcs - Dlrect rlnt Anxk Colli'ctli'¢ (Mlgrant Women's Educatlon Projeci 2022- 2024) Fundins wa.% provided for Iwo %upport workers Irom Aug 2022 Aug 2024. They worked lo support their members dnd community in Ihrec dillirent ¢ohL)rtS.' school ehildrcn. youn¥ pcoplc between the age of16 and 25 and wi?m¥n and f#mili¢ii on IL)piLs (IfLducati()n. inf()rmd(iurk, skills and empluyability. Over thi% peri(Kl Ihey dLlivercd'. clinics for women laLing challcngc.s relating to their childr¢n'8 and own ¢ducalion Iwo English conversational classes every week and basic computcr cla5se5 in Arabic meetings with a range uf sl(Ikch()Idcr8 illLluding sLI)ool priniipiils, politician5, and communily groups about the dcvelopm¢nl of education projeLt online bomcwork club altracting five volunteer English teachcrs. thrce voluntecr maths & English voluntclr IL#Lhcr% four children's activilles run by volunteers
Belfast Charltable Society
Trustee's Report
Anaka also delivered activilie5 for children during holiday5 and special occasions e.g. Christmas and Eid
celebrations, Easter and summer art workshops, and outdoor family's trips. A total of 30 young people look a
CaTnbridgc English Luursc speLifiLally prcparing them for school Lollege ddmissiun. Of those supported 15
have Lomplekd (I qualific
Belfast Charitable Society Trustee's Report Winter C.oat5 BC.S supported Ashton Community Cenlre's winter coat appeal. for school children. with a £500 donation. d) Street Soccer Nl- Homeless World Cup BC'S contributed lo help cover the costs of sending 15 homcle5s men and womcn and 6 staff to Seoul. South Korca for l O days lor the Homeless World Cup. Out of the 15 pl&yers, only 2 are now, homeless, l O are working or volunteering, 2 have coJnplel¢d their Icvel I Cudching qualifications and 2 joincd a univ¢rsiry in England. Addressin disadvanta rant5 1hrou h d(bnatiuns Tom How'ard - Peoples Kltchen - Older People's project BCS via th¢ Thomas Howard Legacy aided the People'5 Kitchen in North Belfast to engage with 70 older people provide wrap around support, plu5 reterrdl lo s¢rvices to reduce isolation e.g. GP visits. Norman Cater5- Old Library Trust A donation was awarded from the Nornia Caters e5tatc towards Thc Old Library Trusl Dernentia Engag¥d & Empowercd in Dery & Sirabane (DEEDS) Project. This coered the cost ol. deliN'¢ring d¢m¢ntia trdintng ro 26 Ma¢millan C'ancer Services slaft. and volunteers. 41 Iirst year param¢dics and 381 first year community nurses over 9 workshops. These sesgions included experiential training7 that immersed participants in dementia settin8S to incrcasc thcir awareness and knowledge of how il feels lo live wilh dementia. Hunter Smyth Fund This fund wa% esidblished in 2022 ihrough d P<irtneThhip between the Smyih famtly and BC.S. The fund supported the Mary Ann Mccracken Bursary Awards for the past tt4'0 years with donations of £ l 0.000 each year. (See Mary Ann Mccracken bursaries note). IYI Water Fund BCS receives an annuity from Nl Water because of ils rolc in dcvcloping the water infrastrncture. This year Clifton residential home received a donalioT] of £%OO as a contributt'on towards a programme of soeial aciivity for residents within the surPOrted lifv'ing side of Clifton Ilouse. The shelt¢r¢d accommodation within Clifton 14ouse also received a donation ot-1800 as a conlribution towards iheir Hisiory Harvesl and exhibitiuts projeet. Addressin disadi'antg c throu h thc Mgr Ann McCrcken Foundation The Poundalivn Set up by th¢ Socicly lo Lclebrale (he lifL Lind wiirk% of ihi4 r¢markable woman. and her legaey and relLI'ancc today. The Foundation wa8 forn)ally r¢cognised as a charily by thc Charity Commission for Northern Ireland in the year (NI IOX857) A full Truste¢ report is availabl¢ within the Foundation s Annual Report 3nd Financial Statements. Financial Review and Results for the year The results for the yemr are scl out on page 15. Ai the year-end 30 September 2024, Ihe balances of the re8tricted and Unrestrict fimds held were L469.522 and £13.649.007 respectivcly.
Belfast Charltable Soclety Trustee's Report Pension Arran ements A5 nol¢d ITL th¢ previvus pcriod, BCS suught expert advice and mdi)aged ull risks assoLidtcd with its NILCinsc pension schcme oblig>ations and made an inform¢d dc¢ision ccasu ils participation in this SL'h¢mc at 31 March 2023 and transfer lo another provider. The impp4cI of this can be seen on the Balance Sheet and in the notes of these accounts. Plans for Future Perlods Beltasl Charilablc Society held a strategic plan review forum tn May 2024. attended by Truslees and the executive tedm. The purp05¢ of which lo re-examine its current %lrale¥iL dircLlion ld, il- required. retr¢sh il ii¥ree thc kcy projeLts for Ihc Suciery lo foLU5 on in th¢ short to medium term. The altend¢¢s w¢r¢ prescntcd with a summary of reLenl a¥hi¢vemcnls (givcn the tenure of the Ch3ir completLd in March 20241, il runbiL (Ifddta and infurm¢iliun on LurrLnl pr(ijLcL%. Aq per the OhjecL8 Und Mi8sii)n ()f thL charity the Fjoard reaffirn)ed it4 commiimenl li) llddres4ing social and ccononiic disadvanlagc. It was agreLd that its work would, whcrL possible. b¢ dclivcrcd through partnership8. collaboration. with ihe Society actinbi as an honest broker, makinb links and connections between and lo our nenvorks, dnd ¥hrIn best practicc through rcal life learning. In relation lo ils philanihropic work, the themes r¢main as.. InfluenLing philanihrupy lo assist thc rLdislribulion of wealth to addrcbs PUVCrty ic looking al ways lo impn)VL ÉILLLSY lo finanLL for ihusL from low incomL baLkgruundty LllLoura¥in¥ ()ther8 Io IILI invulvLd in philanthropy r.mpowcring cducalion and ski115 to improvc cmployability. usin hcrilagic us a Lalalyst for regcneralion in area8 ol'di8adv3nta¥e. Improving oldcr peoples, cunn¢ctions tu Ihc widcr community and scrvice%. Targeted inlervenlions to crcale innovation and gcnerale learning e.g. facililaling physical development projects that address unmel social need. Furthermore. as the calendar yedr 2U24 mark% the 250-year anniverb&ry ot. Clillon House the tinal quarter ot the yL8rlong prugram uf cvLnts will bc complLlcd and the impaLI will bl cvalualcd. Thc Mary Ann McC"raLkcn Iiundalii)n dLv¢I()PLd 114 ()wn slralegic plan in Ihe PLriuJ flir QLI 2024 i)nwdrd8 and rcflLLl% IhL' siippurl Ihdl is necdcd in education at this lime along8id¢ support tor addrc.%sing hale Crime and racism in educalional scttinbi8. It 18 anlicipatcd the current BCS 5tralegic plan will be subjL¢l lo a full rcvicw May 2025. The Society will continue to facilitaie Ihe care ol. oldcr peoplc through the Icase arrang¢m¢nt on its buildings. In relali(In to the preservati(In and pr(Im()li(In of heritage. we will continue lu increase dLC¢$% l() and use of Clifton House lor meelingTs. tours and dillerent forms of speciali%1 evl'nls. These activities will continue lo be used lo promote phildnihropy, creale income lor th¢ charity w'hile Inlonning, entertaining <ind eduLalin¥ others. A themed prL)w#inmc of ncw tOLif5 and ialks bccn approved. Structure. Governance and Mgnagement v¢rnin Documcnt
Belfast Charitable Society Trustee's Report Five Acts of ParliamenL Ihe most recent of which being the Belfast Charitable Society Aci 1996, as above. have governed the aciivitie5 Ot'the Society. The Society's Board and ofticers, elected by ihe Society at the AGM. guide these activities through a number of cornrniltee5 thai report lo the full Board at regular meetings, Recruitrnenl and A ointment of Board members Board make-up is reviewed on a regular basis to ensure skills, knowledge and experience meets the needs of the organisalion. If gaps are identified new Board members arc recrnited and apwyinled on Board approval having gone ihrou8h due prucess dt ihe Nominiilion and Remunerdli()n5 CutnmitlLc. Ncw board metnbcrs complcle an induction process and are provided w'ith thc Corporale Cyovernance polieies and pr(Iccdurc8. A recrnitment process for n¢w mcmbets wa% compleled and three new appoiniments were made to the BCS with a further appointmenl to thc Clillon Hvusc C¢ntre Limitcd Board. No Board member received any remwieration in the y¢ar and confli¢ts of intresl were d¢¢lared as appropriate. '5k" mana emeni The mislees continually examine the major risks the charity faces or could tacc in ternis of gov¢man¢e, operational and reputdlional matters. The charity has dcvclopcd systems to monilvr and Lonlrol these risks, und to miligale any imp3LI ihal they could have (bn thc organisation. The main luul used lo manage this is its Risk Rcgister which is updated regularly Eo reflccl changes in risk management and 15 reported to Ihc Audit and Risk Commi(tee and then the Board. Tn recent years larger Scale risks such as Ehe provision of direct care for older people have been mitigated against through the transfcr of services to third paty providers; the nursing home to Runwood Homes: and the contract to dcliver rcsid¢ntial care for those with dementia, at the Clifton Housc site: tran$t¢ed b¥k to Radius Housing. Reserves oIiL li is thc Board's objcctivc to maintain suffiLient rcscrvcs to cnablc li to have conDnued certainry over its operating dLtivities. Re%erves more ihan this will be used for specific pri)jecls in the future as and when the Board deem appropriate. As the custodian of a Grade A listed building, which is leased to Radius Housing until May 2070. the Board is conscious that it has the ultimate responsibility Ot. ensuring Beltasl oldest working building is maintained for fuftir¢ gcnerations of thc oryaniS&T10n and the ctty's populalioD. This is also truc of the work and legacy of the SociLty as a. philanthropiL budy. InvcstTncnl lic The Board has thc power to invest in such stolks and shares a5 it deems appropri4lc. The poli¥y is to adopt a low to medium risk investment strategy bas¢d on maximising both income and capital growth. The Bodrd tender5 for inveslment manag¢menl serviLLiprovidcr cvcry Ihrce to five years ensuring it a quality service. A tender process was completed during 2023 -2024. Given global events and the volalility of (hc markels the Board has been irk eontaci with the investmenl manager on a rcgular basis in this periL)d. Thc latter has provided and presented updales at m051 Board and Financial m¢ctings ¢n5urin¥ m¢mbers can make infom]ed decisions if rcquircd. Auditors Further to a competitive lender process Ross Boyd Associal¢s were appointed auditors lo the Society and in accordancc with the Charitics Acl (Northern Ireland) 2008 and Charities Act (Northern Irclandl 2013. io
Belfast Charitable Society Trustee's Report Sthicmcnl uf Ihe Board's res onsibililie The Board 15 required to prepare finanLial stalemcnts for each financial year which giv¢ a twe and fair view of the stale of affairs of the Society and of the surplus or deficit of lh¢ Society for that period. In preparing those fmancial statemenls. the Board is required to .' selecl suitable accounting poliLiCS and thcn apply them consistenily make judgements and estimates that are reasonable and prudent prepurc Ihc financial statcments un the going conccrn bdsis unless It is inappropriate to pr¢sume that the SoLiety will Lontinue in i)per<ition. The Board is responsible for maintaining proper accounting records which disclo8e with reasonable accuracy at any lime the linancial position of the Society. They are also responsible for safeguarding the assets ot-the Society aud take all reasonable steps io prevenl and delect fraud and other irregularities. Statement of disclosure to Auditor Statement of disclosure to Auditor so far as the Board is awa. there is no relevant audit infonn8tion of which th¢ Sviicty'5 auditors arc unawdrL': Additionally. th¢ Board havc takcn all the n¢ccssary steps thcy uught to have kLn in c)rder Ic) makc thcmsclveb dWdfL of any r¢lcvanl audit inforniation and to cn8urL ihat the SoLiety'$ audilors are awarc of Ihal information. The Board remains extremely gratcful lo the 5tatf al Ihe Society wh() have worked hard from differing Iocalions lo ensure the operdtions have conlinued seamlessly during most challenging limes. By order of the board Prof A Adair, Chairnidn Dale 131&8l£f li
Belfast Charitable Society Independent Auditor's Report to the Members of Belfast Charitable Society Opinion Wc havc audilcd thc financial statcments of Belfast Charitable Society (the 'Lharilable parent Lompany'l and ils subsidiarics (the 'group') for the y¢ar cndcd 10 Sepl¢mbcr 2024. which comprise ihc Consolidatcd Sialcrnent uf Finttncial Activitics, Consolidated Balanc¢ Sh¢¢l. Balance Shcet, Con501idalcd Stalernenl of Cash Fl()w% and Notes lo the Financial Sialemen15, ii)cluding a summary of'significant accounting policies. The financial reporting trdmework ihal has been applied in their preparation is United King,dom Accounting Standards, comprising Charities SORP - FRS 102 The Financial Reporting Standard applicable in the UK and Republic of ireland, and applicable Ip4W (United Kingdom Gencrally A¢r¢pled Accouniing Practice). In ()ur ()pinion Ihe fin¢incial siaiem¢nts'. &YIVe d tru¢ and fair view of Ihe slate of the group's and parent charity's allairs as al 30 September 2024 und of its iiicomiiig reyources and Éipplicalion ol. resources, including iiy income and expenditure. lor the year then ertded: huve heen priyperly prepared in aLLurdJnLC with United Kin¥dom fienerally Accepted Acc()unting Practice- nd have been prepared in accordance wilh the requirements ot the Charities Act (Northern IreldI 2008 and Ihe Charities ALt (Northern Ireland) 2013. BASIS fTrr oplnion W¢. conduLILd our audit in Jccordancc with Intcrnalional Standards on Audilingi IUKI IISA.s {UKII and applicable law. Our rcsponsibilitics und¢r Ihosc standards ar¢ ftsrthcr dcscribcd in Ihc auditor rc8ponsibililiL4 for Ihc audit of Ihe financial slatk'mcnls seciion of our rcport. We arc indcpendLnl of Ihe group in accordance wilh the cthical rcquircmLnl$ Ihdt are rclcvanl t() ()ur dudil vf Ihc finiincial 8tlllemcnL4 in thc UK. includin¥ Ihe FRC.'s EihiLdl Standdrd, and WL havc fulfilled our other L'ihical fL%P()n%ibililics in uLL()rdJncc with lhL1L. fLquifL'mL'nls. We bcliL'vc th<lt the (iudit cvidenL'c WL have ()bIned is sufficicnl and approprialc to pravid¢ a ba515 for our ()pinion. Concluslons r¢llltlng lo %olnE concern In audilins thc financial statcmcnts, wc have concludcd thai the Iruslees use of Ihe going concern basis of accounting in Ihe preparalion of Ihe finanLial 5talemenls is appropriale. Based on the w'ork we have pcrforncd. wc havc nol idcntificd any material unccrtainlics rclatin¥ l() cvcnt% vr conditions that. individually or colleLlifv'ely, may c#51 significant doubt on th¢ group's dbility to ¢onlinue a5 a going oncern tor d period ol. dl lea%1 twelve month% trom when ihe original financial statements were authorised for issue. Our rcsponsibililic5 and (he rcsp()nsibililics of the Iruslccs wilh respect lo goin¥ concem are described in the rLIL vanl secli()ns ()f Ihis rL'port. Other Informltlon The Inislecs 41rc rcsponsible for the other infomialion. The other infornlalion ¥omprises the infornialion included in thc annual rcport, oth¢r ihAn the financial stBt¢mcnts and our audilur's repvrt Ihereon. our opinion on ihc financial slalcmcnts ducs not covcr the other infomialion and. CXLLpI tu thc exlent othmvis¢ ¢xpliLiily staled in our report. we do not cxprcss any fom) of a55urance conclusion thcrcon. In connection willi our audit of thc tinancial $talcmenls, our re.4ponsibility is lo read th¢ other inforniaiion and. in doing $0. con4idcr whciher the other information is malcrially inconsislent with the financial slalcments or our knowledgc obtained in the audit or oihLnvisL appears lo be nial¢rially mis8taled. Ir wc identify such malerial inc()n4iiitLI)LiL% c)r appdrent mal¢rial mi4StalLmenls. wc are rLqiiirc¢J io deiem)ine whLth¢r (here is a matcridl misstalL'mLnl in IhL' fin<incial statLiiicnLs or a Inatcridl mi4%laicmenl ()f ihL oth¢r infi)rmution. If. b<iscd on ihe w()rk we havc pcrfornic(L wc conclude that there is a matcrial mis51atem¢nt of this ()th¢r infonnalion. wc arc requircd lo report thal fucl. 12
Belfast Charltable Society Independent Auditor's Report to the Members of Belfast Charitable Society We have nothin¥ to report in this regard. Oplnion on other matter prescribed by the Charities Aet5 {Northern Ireland) 2008 and 2013. In our opinion, based on the work undertaken in the course of the audit.. the infomialion givLn in the SiralegiL Report and Truslces, Rcport for the financial yeiir for which Ihe financial tdlL'mcnl% dre prL'parL.d 15 c()n%isl¢nl with Ihc financial %latemenls; dnd th¢ Strat¢gi¢ Rcport and Trust¢cs' lieport have been Prepared in accordance with applicable legal requircments. Matters on M'hich we are required to report b.v exception In the light of our knowledge and understanding (Trl. the group and the parent cbaritable company and ITS environment obtained in the ¢ourse of Ihe audiL we have not idenlitied material missiatements in the Strategic Report and ihc Trnstees, Report. We havc nothing to r¢port in respecl of the f()11(bwing niatter% whcre thc Charilies Acts (Northem Ireland) 2008 and 2013 requires us to Teport to yvu if. in our opinion- adequale accounling records have nol been kept by the parent charitable company, or returns adequale lor our audit have not been received trom branches not visited by u.s; or Ihe parcnl charitable company financial slatemenls are not in agreement with the (ICLounting records and returns: or certain disclosures ot. trustees remuneration spe¢iti¢d by law are not madc; or we have not received all the infomiaiion and explanations we require for our audil. Responslbllltles of trustees As explained more fully in the Statement of trustCC5' responsibilities (set out on page I l), the trustees are responsiblc for Ihe prcparation ol. the finanlial slalcmcnts and for b¢inb> satisficd that they b?ivc a tru¢ and fair vieTh. and for such iniernal control as the truslces dctemiine is necc8sary lo enable the preparation of financial statemenLS that are free from material misstalemenl, whether due lo fraud or error. In preparing the finynLi411 statements., the trnsiees are respunt>ible fur assessing th¢ Lharity'5 ability to Lontinve as a going ¢onc¢rn, disclosing. as applicable, matters related lo goingy Loncem and using ihc bioing Luncem b&tsis of ac¢oynling unless the tSteeS either intend lo liquidate Ihe charity or lo ceasc opcrations, or hdV¢ no realistic dlternjtive bul lo do so. Auditor responsibilitles for the audit of the finxntlal stwtemenls Our objeclives are lo obiain reasonable assurance about whether the linancial statements as a w'hole are tree Irom niatcrial misslalemcnl. whcthcr due lo fraud or crror. and lo issuc an dudiior's report thal includes our opinion. Rca50nable assurance is a high levcl of assurance. bul is not a guarantee that an audit conduclcd in accordance wilh ISAS (UKI will always dclect a maierial missiatenicnt when il exists. Mi%slatcm¢nt8 can arise Irom fraud or crror and arc coi)sidcred malcrial if, individiially or in ihe ag&yregatc. Ihey c()uld rL'a%onably b¢ expected to influen¢¢ the ec(bni)miL deLi4ions of us¢rs taken on the basis of IhL5L" finiinLiiil 4ldlcmcnls. The exieni to which our procedures Jrc capablc of detectingy irregularities, including fraud is dctailed bclow.. We identifiLd area5 of laws and regulaiions ihat could reagonably bc cxpccÈed to havc a maiLrial ctle¢t on the rin¢illLial slatcmenLs from our seLlor LxperiLnce through disuuqsiun with ihe TrustLes and oihLr mana&Femcnl las required by auditin¥ standards). Wc had rcgord to laws and rcgulations in areas that directly affccl the financial Statements including financial r¢porting lin¢luding r¢latcd tradL union Icgisldtion) and t<ixation lcgislation. Wc considcrcd that exlLnl of compliance with th08e laws and regulations as part ofour procedures on the related financial stal¢menl items. 13
Belfast Charitable Society Independent Auditor's Report to the Members of Belfast Charitable Society Wilh the exLeption of any known or possible non-coniplian¢c, and as required by auditing slandards, our work in rL5pccI of. thesc was limited io enquiry of Ihc Trusiccs. W¢ L(ImTnuniuut¢d appliLable laws and regvulatiuns throughoul our audit ieam and remained alert to any indiuations of non-LomplianLe throughoul th¢ audit. W¢ addrcsscd lh¢ Tisk ol. fraud through man&gemenl override ot conirols, by lestinbi lh¢ Jpproprialeness of journal cntrics, and other adjusimenls; asscssir)g whether the jud¥cmcnls madc in making accounting cslimatcs arc indicalivc of a potential ba8i5- and evaluating Ihe business rationale of any significant transactions that Are UnUSUiil vr out8idL Ihc i)umial Luuf5e uf businLs5. Our audit procedures were desiwicd to respond tv risks of Material misstaterncnt in th¢ finan¢ial statemcrkts, rccogni5ing thal Ihc ribk of not d¢lccting a mRtcrial mis513tcmcnt duc 10 fruud is higher than ihc risk of not d¢lLcling onL rcsulting from crror, as fraud may involv¢ d¢lib¢ratc concLalmcnl by, for ex<implc, forgery, misrepre%enlaiion8 or through collusion. There are inherent limilalions in the audii procedures perfornied and rhe further removed non-compliance wilh laws and regulalions is from the evenis and Iran8aclions reflecied in the financial slalemenls, the less likely wc arc lo become awar¢ of it. A further deripl]0n of our respon&ibililiLs is available on the Trinancial Reportin¥ CounL'il's wcbsilc at.. vnvw.frc.i)rg.uk/audilorsrcsponsibilitiL's. This dcs¢riptiun fomis part of our auditor's rcpurt. Ust of our report This report is made sol¢ly to Ihc charilablc purcnl company's tnistcc8, as a body. in accordanLC with C'harilics Acts (Nvrihcrn IrL.land) 2008 and 2013. Oiir audit work has bcen undertakcn so thai we might 51atc lo Ihc gr()up's trustees those matters we are required to ytate to them in an audilor's report and for no oiher purpose. To Ihc tullesl extent permitted by law. we do not accept or Assume responsibility lo anyon¢ oih¢r ihan ihc charitable parent ompany und its trustees as a body, lor ow audit work, lor this r¢porL or tor the opinions w¢ have lom]¢d. Bridn Siewarl ISLniur Stsiiili)ry ALiditur) For and on behalf of RBCA Limited . Statutory Auditor Linvnhall F.xchangc 26 Linenhall Sireel Belt&st BT2 8BG Dale.. 14
Belfast Charitable Society Consolidated Statement of Financial Activities for the Year Ended 30 September 2024 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2024 Restri¢ttd funds Note Income and Endowments from: r)onalions and legacies Charitable acrivities Other trading activities Investment incomc Othcr income 219,415 577,689 171.267 121.170 219,415 721,489 171,267 122,998 70,373 143.800 ,828 Totsl income 1,159,914 145,62¥ 1,305.542 Expendlture on: CharitablL aLlivitlC5 Othlr expendilure (783.1551 135,061 (89,7961 (X72,951) 135,061) Total expendiiure Gains/losses on investmcnl assets {918.2161 582,819 189,796) 11.n08,012) 582,819 Net income 824.517 55,832 880.349 Other reco%nised galns ind 1055es fJains/losses on rcvalualion of fixed asset5 50,1100 N¢t movement in funds 874,517 55,832 930,349 ReconelllAtlon of funds Total funds brought forward 12,774 490 413,690 13,1118,180 Total funds carricd forward 12 13.649.007 469.522 14.118,529 15
Belfast Charitable Society Consolidated Statement of Financial Activities for the Year Ended 30 September 2024 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrlcted funds Totxl 2023 Restrtcted funds Note Income Endowments from: Donalions and legacies Charitable activities Other tradtng acllVitie5 Investment income Other income 23,918 452,801 178.261 145,251 23.918 671.705 188,149 146,082 218,904 9.888 X31 Tothl income 849,249 22Y 623 1078 872 EApenditure on: Raising funds Charitsblc a¢tiN'iti¢s Other ¢xpendithrc {28.7801 1604,589) 144.437 (28.780) (754,9521 184.423) 1150,363) L39,986 Total expenditure (777.8061 (190.349) {968,155) Gainsllosses on investment assets 256,749 256 749 Net income 328.192 39,274 367.466 Other recogD15ed galn5 gnd losses CJains/losses on revaluation ol- fixLd assets A¢tuDrial gains on defined bL'nefil pcnsion schtsmvs 1,331,325 1,331,325 LI.001,495) --(1,001:495 Nel movement in funds 658,022 39.274 697,296 Reconciliation of funds Totsl funds brought fonvard 12 116,468 374,416 12.4911.884 Totsl funds carrted fonvard 12 12.774 490 13,188,180 All of the group's a¢tiviti¢s dcriv¢ from continuing operations during th¢ above two periods. The funds breakdown for 2023 is shown in note 12. 16
Belfast Charltable Soclety (Registration number: XN45105) Consolidated Balance Sheet as at 30 September 2024 2024 2023 Note Fls¢d assets Tangible assets Invesunens 546,6113 10.566,622 11 113,305 3511.X42 9.96.1.426 10.322,268 Current assets Stncks Dcbtor% Short Icm dcposits Cash al bunk and tn hand 510 48.-754 196,1106 2.X52,1112 3.096.iIX2 .160.280 1.771.535 2,955.4x2 Credliors: Amuunt5 falllnll due wlthln one year Net current a¥¥Lty 10 (54,192) (89,570) 3.042.690 2.t165,912 Total #s¥ets ¢yrr¢nt Ilabllllles 14.155.995 I3.]lI,180 Cr¢dlturg: Amounts filllng due after more than onc year (37,466) Net dSSc15 14 118.529 13.1118 180 Funds of the group: Restrl¢ted Income funds Restricted tiinds 469.522 41.1,690 Unrestrlcted Income funds Unr¢$triclLd funds 13,64Y,007 12,774,490 Tol#l fund5 12 14 IIX529 13 IXII 1140 13./k.>/z )- The tinancial %latemenl8 on page$ 15 10 29 were approved by the tru¥iees, and auihorityed for issue on . and signcd on their behalt by.. Pror air, irman Mry F.ileen (honey. H()norary Trcasurer The note5 on pages 20 to 29 fonn an integral part of these financial slalements. 17
Belfast Charitable Society (Registration number: XN45105) Balance Sheet as at 30 September 2024 2024 2023 Note Fixed assets TanbTible assets Invc51mcnl8 507.-135 10.566.722 11074057 315.823 9,963,526 10 279 349 C.urreTht Assets DLbiors Cash al bank and in hand Short Icrm dcposils 52.890 2.1105.363 196,007 3,054,260 18,536 1.757.135 1,160,280 2,()35.951 Credltors: Amounts falllng due within one year 10 (40,4U4) (34,468) Nel currenl a8¥Ct 3.013.856 2.901,483 Total wsset5 le$s current liibllities 14.087 913 13 180,1132 Nel asscts 14.087 913 13 I¥OX32 Funds of the tharlty: Reitrlcted Income funds RL51riLILd lunJ5 438.523 323,987 UnYc'¥trl¢tcd IDromc fundi Unreslricied lund¥ 13.649.390 12 %56.1145 TolMI fundi 12 140¥7 ()13 13.180 1132 The financial statemcnls on pages 15 to 29 were approved by the trustees. and authorised for issuc on nd 5igllLd vn thLir bLhulf by: ..L3/p5.1.Zs- Prof Qhaiman rs Eileen ooney, Honorary Treasurer The notes on pages 20 to 29 forni an integral part of these financial statem¢n¢s. 18
Belfast Charitable Soclety Consolidated Stalement of Cash Flows for the Year Ended 30 September 2024 2024 2023 Note Cash nows from operatlng acllvltle5 Net cash income 928,871 ,698.791 Adjustments to eash flows from non4Ash liemy DepreLialion InvL8lment income 17.375 (603.196) 343,(150 211.1112 LI,3110.184) 346,709 Worklng eJpltg1 adJustmen¢$ Increase in stocks Incre¢ise in dcblors Increase/(decrease) in creditors (1641 (25.557) 2.089 (346) (7.599) 29.453) 10 Net cash tlows trom operalintsT activities c.ash fli)ws from InvestlnR *ctlvltles ALquisili(Trn¥ lif laiibyiblL' asscls 319.418 .IIIY.31 (205.215) (6,%36) Net in¥reMse in Lmsh and Lash equivalcnts 114.203 302,475 Lash lind cash equivalcnls al l UL'lobcr 2,933,816 1,471,060 Cush and ca¥h cquivalcnls ul 30 ScplLmber 1.1148.019 1.773.535 All ofthe cash llows are derived from conlinuinB operations durin8 thc above two pcriods. The not¢s Qn P&¥C5 20 to 29 forni an integral part ofthesc fm¢incial statements. 19
Belfast Charitable Society Notes to the Financial Statements for the Year Ended 30 September 2024 I Charity st4tus The charity is limited by Share capitsl. incorporated in Northern Ireland. Thc aadress of its registered oificc is.. Clifton House 2 N()nh Queen Street Belfast BT15 IES 2 AccountlDg pollcies Summary of significant #ccounting policies and key accounting estimates The principal a¢¢ounting policie.s applied in the preparation ot these financial 8lalemenls are set out below. These policies have been consist¢ntly applicd to all Ihc years prcscnted unless othcrwisc statcd. Statement of compllance The financial statements have been prcpared in accordance with Accounting and Reporting by Chariii¢s: Statement of RecommendLd Praclice (applicable Io Lharities preparing, their aLcaunt8 in ¢icLord8nLe with the FinanLial Rcp(Irling Sidndiird applicable in Ihc UK and Republic of Ireland IFRS 102)) (issued in 2022) IChariliLs SORP IFRS 10211, Ihc Fin¢inLial RLpurting Standard tappliLable in thL UK Lind Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation BelfaTrt Charitablc Socicty mcelb the dcfiiiition of a public brnefil enlity undcr FRS 102. Ass¢ts and liabilitiL% are initially re¢osllis¢d at hisloriL(Il LV&t or Irdnsaction N'alu¢ unl¢ss Otherwi stat¢d in th¢ relevant a¢¢ountin8 policy notes. Pre%entatlonal CUTTency and level of rounding The presenialional CenCY is £ sterling and the level of rounding is to the nearest £. Basis of consolidatlon The LonsolidaLLd linancial %lalemenls con5olida the financial 51alements ol. the charity and its subsidiary undcrtakingy% drawn up lo 30 Seplember 2024. N(> slalemenl uf findncial dctivitiets is presented for the charity as perniitted by scction 408 of the Companies Act 2006. The chdrity mddc a surplus of £930.349 (2023.. £697.296). 20
Belfast Charltable Soclety Notes to the Financial Statements for the Year Ended 30 September 2024 A subsidiary is an cnlity controlled by the charity. Control is acbieved whcrc Ihc charity has the power 10 ¥ovcm the financtal and operating policies of an entity so as lo obtsin benefilb from its activities. Thc results of $ubsidiJrie5 acquired or disposed ol. during the year are included in the stalemeni ol. financial activilie5 from the effective dale of acquisilion or up lo the elTeclive date of disposal, as appropriate. Where nccc88ary, adjustment.s are made lo the financial stslcments of subsidiarie8 lo bring their accounting policies into line with ihuse used by Ihe %ruup. Thc piirchdsc mLih(MJ of aLLounling 14 u.scd lo ALcounl for businL%% ¢omhinali(bns that rL%LIII irt the aLqui4ilion ()f 5ubsidiariLs by th¥ group. Thc Lost of a businc%¥ coinbination is mLa5UfL as th¢ fair value of the a55ets ¥ivL'n. ¢quity instrumcnts issucd and liabiliiiL'& illLu¢d or assumcd al Ihc dalc of ¥xLhangL, plus LOSti dirLLtIy attributsble lu the business combinaiton. Identifiable assels acquired and liiibililics and conlingcnl liabililiL's issurn¢d in a busincss combiiiaiion arc m¢asur¢d initially al thLir fair valucs at the acquisiiiol) diltL. Any CXLCSS i)I' Ihe coil ol. Ihe bu5ine5s combination over Ihc acquirer'5 interest in Ihc nci fair value ul. the idLnliliiible ussets. liabilities and conlingenl liabilities recognised is recorded a% ¥oodwill. Inler-company Iransaciions, balance8 and unrcali8ed gain$ on iransaclion5 bctwecn the chariry and 11$ subsidiaries, which &rL relaicd parliCS. arc climinulLd in full. Intra-npIOSLS arc als(} Lliminatcd but muy indiLulL un impuirmL'li( thul rL4uir¢s r¢Lu¥nili()n in th¥ ¢ons¢1lidalcd rinanLliil 4ldlLmenl%. ALL()Linling w)liLics of subsidiuriLS hHv¢ bccn Lhunged wh¢rc n¢Lc%s#ry lo Lnsurc c()nsiStcnLy with ihc puliLiCS adoptL.d by th¢ ¥roup. Non-Lontrollins interLs15 in the nLII asscls ()f Lonsoliddlcd siibsidiuricb urc idcntificij separalcly from ihe group s cquity Iherein. N(InotrOlling inlcrcsts consist of thL uinuuni of ihosc inlcrc41% at IhL date of the original bu%ine%tD combinution and th¢ non-conlrollingp shareholder's %hare ol. changes in equity *inc¢ (he date of the combii)ation. Total comprehen%ive ii)com¢ is attributed lo non<ontrolling interests even it. this result4 in the non-conlri)Ilinbi inlere$ls having a deficil balance. Golng concern The truslces consider that there are no malcrial uncertaintics about the group's ability to continue a$ a uoing Concern nor any 8ignificanl 8rea$ of uncertainty that aflecl Ihe carrying value of as%ets held by Ihe group. In¢om¢ and endowments All inL()InL 1.% f¢L(Igni%¢d Iince the Lharily has enliilemenl to ihe inLI)me, it ts probllble Ihnl IhL inLomc will he rLLL'ived 4nd the &mi)unl ()f Ihe inLomL' reLLivablc Lan be mea%ured rLliably. Expendliure All Lxpcndithrc is rc¥ogyniscd once Ihcr¢ i&+ a legal or constructive obligaliun to thal cxpendilLire. it is probable scltlcmcnl is rcquircd the Amount can bc mcasur¢d reliably. All Losls urc allocated lo lh¥ dpplicablc expcnditurc h¢ading that Aggrcgatc Similar costs lo that category. Where costs cllnnol be directly dttribiilcd lo particular heddings they have been allocated on a basi% congi%tenl with the use ol're.8ources, with central 4taf't'c()sls allocated on the basi% ot time spent. and depreciation chargies allocaled on the portion of the asset's use. Other support cost4 a allocated based on Ihe spread of. slat'l- LosI8. Rai.singfund,¥ Thesc are LO&ts incurycd in attraLtinB voluntary incvmc, the managemcnl of investment5 V4nd Ihosc incurred in trading aclivitlLS that rai5¢ funds. 21
Belfast Charitable Society Notes to the Financial Statements for the Year Ended 30 September 2024 Charitable artivities Charitable expenditure Comprises those costs incuffed by the charity in the delivery of its activities and services for it5 beneficiaries. It includes boih costs thal can be allocated directly to such activities and those costs of an indirect naiure ne¢¢ssary to support them. Taxatlon The charily is considered lo pass the tests set out in Paragraph I SLhedule 6 of Ihe Finance Acl 2010 and therefore il meets th¢ definition of a charitable company for UK coratIOn tax pun)oseq. A¢cordingly. the charity is potentially exLmpt from taxation in respect of income or capital gains reLeived within categories covcred by Chaptcr 3 Part I l of Ihe Corporation Txx ALI 201 O or S¢Ltion 256 of the T8xatiun of Chargeable Gains Act 1992. to Ihc cxlent that such income or gatns are applied exclusively to charitable purposes. Tangible fixed assets Individual tixed assets costing £0.00 or more are initially recorded al cost. less any subsequenl accumulated depr¢cialion and subsequenl accumulated impairnient losses. Depreciation And amortl$ation Deprccialion is provided on tangible fixed asset5 so as lo write off the cost or valuation. less any estimated residual value. over iheir expecied useful economic life as follows.. Asset ¢1*55 Buildinbys Equipmenl Fixlures and fillings Depreclatlon method 4Dd rate 2 /0 on revalued amount I 00/0 on cosl 200/• cosl Investmeni Property Inv¢slmei)t properties are th0 Ihat are used solely to earn renlals andlor for capital appreciation. The definition is noi mel il the property is u8cd in any way lo facilitsie the delivery of services or production of goads or is held ror sale. Inveslmenl properties are me35ured initially ai cost and subsequenily al fair value, being thc pricc ihat wuuld bc reLcifved if) sell SULh an ¢iSSL.t in an ()rderly Irans¢lCtiun between market partiLipants at the mca5urablc dale. As a nan-financial a%set, inveslmenl properties are measured al highest and besi use. Properties arL not dLpreLiÉiled bul are revalued anniially aCLurding lo markcl conditions at Lhc yLar-cnd. Gains and l()%%e4 revalu¢iliun are pasted to the Financing and Investment Income and F.xpenditure line in the ComprehLnsive Income and Expcndinire Staterncnt. The same treatmcnl is applied 10 8ains and losses on disposal. Business combinations BusinLss Loinbinalions are accoitnled for under the purchase meihod. Where neces8ary. adjustments are made lo thc financial statcmcnt5' of subsidiaries lo bring the aLLounting poli¢i¢s used into line with those uscd by the group. All intra-group transactions, balances. income and expcnscs arc eliminalcd on consolid¢iliLin. In &c¢ordancc with Section 35 of FRS 102. Section I g of FRS 102 has noi been applied in these financial slat¢rnents in respect of busines¥+ combindlions efl¢cl¢d prior lo the date ot. transition. Flxed &55et Investments Fixed asset investments. other than programme related investmenLs, are included at market value at the balance sheet dacc. Realised blains and 108%¢5 on invcstmenls are calculated as ihc ditTcrence betwe¢n sales proceeds and their markcl value al ihe slari of ihc year, or iheir subsequenl cosl. and are charged or crcditcd to the Statement of Financial Aclivitics in the period ofdisposal. Unredli8ed gains and losses represent the movement in markeÈ valiic.I during the year and are credited or charged to thc Stalcmlnt of Financial Aclivities ba4ed (In Ihc markL.I valuc al ihe ycar end. 22
Belfast Charltable Society Notes to the Financial Statements for the Year Ended 30 September 2024 Current asset Investments Lurrenl asset inveslments are included at the lower of cost and net realis8blc value I market valu¢. Stock is valued al th¢ lower of coyl and estimated 5ellinb price les5 Costs to complete and sell, after due regard for obsol¢te and Slow moving stocks. Cost is deterniined using the firnl-in, lirsl-oul (Fl FO). Trade debtors Trade debior5 &re amounts due from customers lor merchandise sold or services performed in Ihe ordinary course of business. Tradc dcbiors are rccogniscd initially al the Iranqaction price. They are 5ubs¢qu¢ntly mcasured al amortis¢d cost u%ing ihL Lrr¢itivL intLrLsl mLihud, pr()Vi5iun for irnpairniLnl. A pri)visi()n r()r IhL impairniL'nl ufiradL d¥bii)rs 1% c4ublishLd whcn IhLrc is objcLlivL cvidLllLL thal ihc Lharity will n()[ bc (IblL Io LoIILLt all am()unls dui slLLurdin to IhL' ofibyinul ILm)4 of lh¢ rLL¢ivabl¢s. CAsh and eayh equlvAlent% Ld*+h dnd Lash CqUiVsilL'nls ¥omprisc Lash un hand und Lall dLposity. und other short-lcmi highly liquid invcstmcnts that ure readily LunvLrtiblc lo a knuwn amount vf cush and are subjcct lo an insi¥nificunt risk ufchangc in vdluL. Trade credltor Trade crediiors are obligations 10 PBY tor good.4 or service% that have been acquired in the ordinary course of bu%iness from Suppliers. Accounts payable ar¢ clas4iti¢d &8 currvnt liabilitie8 il. Ihe charity does not have an uncoi)ditional ri&7ht, 81 th¢ ¢nd of. Ihe reporlinb, period, io dcfcr setilemcnt of the crLdilor lur al Icast iwelve Inonths allcr the rLporiing date. Il. Ihcrc 18 an uncondilianal right to dcfcr seitlemcnl lor al Icast Iwclvc month8 after Ihc rcporting datc. they are pre%enicd as non-current liabilili¢s. Tradc crLditors are rcci)gnisLd inilially al Ihc trnnsaLliun priLe and 5uhs¢qucnily mcUsUr ai am(Irliscd L()sl using lh¥ L.ffL¥IivL inl¥rL'%l mLih()d. BorrowlnRs Inicrcsl-bcaring borrowings arc initially rcLord¢d at fair V¢iluc, nel vf transaLlion Costs. Inleresl-bearing bOow1n5 ure 4ubsequ¢nily iarried al amvrti5cd Lost. with the differen¢¢ bctwccn thL procLe¢Js, nLI ul'irMnsaLiivn costs, and the umi)unl diie on rcdcrnption b¥ing rccognibcd as u chargc to thc StalLm¢nl uf FinunLiuI ALtiN'iti¢s over Ihe period ot- the relevant borrowin8. Interest expen8e is r¢cob7nised on the basis of the eftective interest method and is included in interest payable and similar charges. Borrowings arL cla%4ifiLd u$ LurrLni liabililic5 unless thc charily has an uncondiiional righi lo dcfer scltlcm¢nl or Ihc liiibilily for ut ILa.41 iwclve monihs dft¢r Ihc rLp(irting dalc. 23
Belfast Charitable Society Notes to the Financial Statements for the Year Ended 30 September 2024 Forcl%n ¢x¢hange Trunsa¥lions in for¢tgn currencics are recorded at Ihc rate of exLhangc at the date of thc trans8¥1ion. Monctary asscis and liabilitics denoJninatcd in forcign CU¢Cl¢S at thc balance sh¢¢t date arc rcportcd at the rat¢s or exchange prevailing lli that datr. Fund structure iinrestricled income funds are gener81 funds thal are available for use at the Iruslees discretion in fvrtherance of the obJeciii'e% ol. the bvroup. Rcslrictcd inLI)mL. fui)d4 are Ihi)se dunaled for use in a particular area or for specifiL purposes, the use of which is reslriclL.d lo Ihal ar¢d i)r purp()%L. Fln*nclal Inslrumenly Cla.s.wiJit'alion Financial as.sets and financial liabililies are reco8nised when the group becomes a party to the coniTacttl provisions ol- Ihe inslnjmeni. Financial liabilities and equity instruments are cla4sifi¢d accordinsy lo the gubslanc¢ of the contraciual arrangcmcnts cntcrcd into. An equity inslrumcnt is any conira¢i that ¢vidences a residual intcr¢si in the assets of the group aftcr deducting all of its liabilities. Recoxnitiom und measmrement All linunLial asset% and liabilitie4 are inilially measured al tran%a¢iion price (including Iransaction coql8). except for ih(Tr4c finurbLiAI claxsitied as at tair valu¢ ihrough profEI or lo%%, which are inili&lly niea%ured at tair value (which is norinally the Iransaciion price excluding transaction cosi.sl. unles$ the arranbiemenl consliluies a rinancing tran8aclion. If an arranby¢ment conslilulcs a finan¢ing Iransa¢lion. th¢ fincial a%s¢i or linancial liability is measured al ihe pre5¢nt value of Ihc future paymcnts discounted al a market rale of inlerc51 for a ,8imil4r dcbi insirum¢nl. FinanLiMI u%%¢ls and li&biliiies are L)nly (Irr%¢t in thL t3lalLmenl i?f finanLiol pi)¥iliun when. and ()nly whLn ihL're LX1415 u Icgdlly Lnf()rLLublL ri¥hi li) SLI Iiff ihL rLI()bJni.sLd iiin()IinLs and th¢ gn)up inlcnd8 ciiher lo %L.IIIL Dn a n¢t babi&. or lu rcdlisL lh¢ assct and scttle thc liability siniiiliancously. Finunci81 asscts arc dLfcco¥ni5cd when and only when al Ihc conlracluul rights lo ihc cash flows from Ihc finunLial asset expire or are qettled. bl the group tran51ers lo another party substdnlially all of the risks and rewurds of ownership ol- Ihe tinancial a4%el. or cl the group, despile having retiiineil some, but not all, signilicant and rew&rd.4 01- ownership, has traniiferred control of the &5set lo another party. Financial liabilities are derecognised only when the obligation specifted in the contract is discharged, cancelled or expires. 24
Belfast Charitable Society Notes to the Financial Statements for the Year Ended 30 September 2024 4 Income from other trading Aetlvltle5 Unrestricted Restricted Totg12024 Total 2023 Income from trading aclivilies 171,267 171,267 188,149 Expendlture on chArltable Aetlvltle$ 2024 202.1 Parent charlty (BelfAS1 Charltable Soclety) SiffjilT C'(i%l¥ 291.574 155.867 459.334 ALtivilics & serviLes undcrtaken 460.9119 Depreciation Cii)vL'rndnLe & 8LlPP(lrt Ciy4ts Other ¢harli&bl¢ actlvltles 11,775 22,550 101.089 100.730 Sub4idiury UndLrtakiny'. Mary Annc McCrr¢cken Foundation (iranl 7,604 16,471 872,951 754.954 6 Taxatlon Bcllasl Charitable Society is a registered charity and is therefore cxempt from taxation. 26
Belfast Charltable Soelety Notes to the Financial Statements for the Year Ended 30 September 2024 7 Tangible fixed assets Group Land and buildlngs Flxtures and flitlngs Equfipment Totgl Cost At l October 2023 Additions 290,000 200,000 966.662 1.930 905,857 3.286 2,162.519 205,216 At 30 September 2024 4YO,01)O 968.592 9119.141 2.367,735 Depreciativn Ai l Ociobcr 2023 21,674 5.800 915.972 8.004 866.031 3.571 1,803,677 17.375 Charge for the year AI 30 Scplcmb¢r 2024 27.474 923,976 869,602 1.821,052 Net book value At 30 September 2024 462,526 44.616 39,541 546.683 At 30 Sepiembcr 2023 268,326 50,690 358,N42 8 Fixed asset in%eytment$ Group 2024 2023 InvestmenL Invcstmenl properties 5,016,622 5,550.000 10.566,622 4.463,426 5.5110.000 9.963.426 Investments Investments Tot#1 Cost Ai l October 2023 4,463.426 4,463,426 At 30 Seplember 2024 5.016,622 5,016,622 Net hook value AI 30 Scptcmber 2024 5.016,622 5.016.622 AI 30 Scptcmber 2023 4,463 426 4,463,426 27
Belfast Charitable Society Notes to the Financial Statements for the Year Ended 30 September 2024 Other finve5tmellts InTr'estment propertv Total C05t or Valuation Ai l October 2U23 5,500,000 5,500.000 AI 30 Sepi¢mber 2024 5,550,000 5.550.000 Nel book VAlue AI 30 September 2024 5.550 000 s5500 At 30 Scptcrnbcr 2023 5,500.000 5,500,000 9 Debtors Croup Charlty 2024 2023 2024 2023 Trade debtors Prepayment5 43,792 4.562 18,9118 2,333 48.328 4.562 52,1¢90 14,738 3.799 18.537 10 Credltor5: amount5 ranin due T¥ithin one year Group ChArlty 2024 2023 2024 2023 Trade creditors Other credttors Accruals 2.095 1.591 50.506 54,192 5,685 2.718 81,167 89,570 103 3,450 3,000 28.018 34,468 35,318 35.422 I I Creditor5." amounts falling due after one year Group 2024 Chthrltv 2024 Other loans 37,466 28
Belfast Charltable Society Notes to the Financial Statements for the Year Ended 30 September 2024 12 Fund5 Group Balance at I O¢tober 2023 Incoming resources Resources expended Bslgnce gt 30 Sepiember 2024 Unrestrl¢ted funds General 12.774.490 1,209.914 (3.35.397) 13,649,007 Reslricted funds 413,690 145,628 89,796 469,522 Total funds 13,1811.180 Balanee at I October 2022 1.355,542 425,193 14.118,529 Balance ¥t 30 September 2023 Resource5 expended resources Unrestrlcted fundy General 12.116.468 849.249 (191,227) 12,774.490 Restrlcted funds 374,416 229,623 (190.349)_ 413.690 Total funds 12,490.884 1078.%72 381,576 13.188.180 13 An8lysls of Det fund5 Group At l October At 30 5eplember 202.3 2024 Cash at bank and in hand Current asset investtnents ,773,535 .161I.2¥0 2.852.012 146,1106 Nel tunds 2.933.815 3,048,018 29