Ballee & Harryville Community Enterprises Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted fund5 Total 2024 Note Income and Endowments from: Charitable activities 66.607 21,205 87,812 Total income 66,607 21,205 87.812 Expendlturc on: Charitable activities (52,166 21.922) 74,088) Totsl ¢xpcndilurc 52.166) (21.922 74,088 Net in¢omel(expenditure) Transfers bctwccn funds 14,441 36,130 (717) (36,130) 13.724 N¢1 mov¢mcnt in funds 50,571 {36,847) 13,724 Reconclllatlon of funds Total funds brought forward 316,618 493.615 810.233 Total fiJnds carried forward 14 367,189 Unrestrlcted funds 456,768 Restrlcted funds 823.957 Total 2023 Note Income And Ei ndowments from: Cliaritsble aclivilies 64,116 469,715 533,831 Total income 64,116 469,715 533.831 Expendlture on: Charitable activities 54,518 429,377 (483,895) Totsl expenditure 54,518 429,377 483,895) Nel income Transfers between funds 9,598 37,293 40,338 (37.293) 49,936 Net mov¢mcnt in ndS 46.891 3,045 49,936 Reconclllatlon of fund$ Total funds brought forward 269,727 490.570 760,297 Tothl funds carried forward 14 316.618 493,615 810,233 All of the charity's activities derive froin ¢ontinuing operations during the above two periods. The funds breakdown for 2023 is shown in note 14. The notes on pages 9 to 18 fonn an integral part of these financial statements. Page 7
Ballee & Harryville Community Enterprises (Registration number: N1063172) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets 366,453 402,953 Current assets Debtors Cash Rt bank and in hand 10 28.617 450,034 606,468 220.186 478,651 826,654 Creditors: Amounts fAlllnE due wlthln one year 12 21.147 419,374) Net eurrent Assets 457.504 407,280 Net asset5 823.957 810,233 Funds of the charlty: Restrlctcd Income funds Reslricled fvnds 14 456,768 493.615 Unrestricted income funds Unrestricted funds 367,189 316,618 Total funds 14 823,957 810,233 For the financial year ending 31 March 2024 the charity was entitled to exemption from Yludii under section 477 of the Companies Act 2006 relaling 10 small companies. Directors, responsibilities: The members have not required the charity to obtain an audit of its accounts lor the year in question in accordance with seciion 476. and The directors a¢knowled8c their responsibilities for complying wilh the requircm¢nts of the Act wilb respect to accounting records and the preparation of accounts. Tlie financial statements on pages 7 to 18 were approved by the trustees, and authorised for issue on 26 November 2024 and signed on tlieir behalf by: rian Holme5 -Chairnian Trustee The notes on pages 9 10 18 forni an integr41 part of these financial statements. Page 8
Ballee & Harryville Community Enterprises Notes to the Financial Statements for the Year Ended 31 March 2024 I Charity status The charity is limited by guarantee. in¢orporaled in Northern Ireland, and consequently does not have share capilal. Each of the trustees is liable lo contribute an amount not eK¢eeding £l towards the assets of the charity in the event of liquidation. The address of its registered office 15.. 20 Antrim Road Ballymen& Co Antrim BT42 2BJ These financial stalcment5 were authorised for issue by the tNstees on 26 Novcmber 2024, 2 Accounting pollclcs Summary of slgnlflcAnt sccountlng pollcles and key accountlng cstlniatcs The pi'incipal accounting policies applied in the preparation of Ihcsc financial stat¢m¢nls are s¢t out below. These policies havc been consislcntly applied to all thc ycars prcsented, unl¢ss olherwise slated. Stat¢m¢nt of ¢ompllance The financial 5tatemen15 have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with th¢ Financial R¢portiiis Standard applicable in the UK and Republic of Ircland (FRS 102) (effective l January 2019) - (Charities SORP (FRS 102)), tlie Financial Reporiing Standard applicable in the UK and Republic of Ireland (FRS 102). They A150 comply with (he Companies Act 2006 and Charities Act (Northern Ireland) 2008. Ballce & Flarryville Community Enterprises mects Ihc definition of a publi¢ benefit entity under FRS 102. Bnsls of pr¢parJtlon Assets and liabilities are initially re¢ognis¢d al historical cost or transaction value unless otherwise slated in the relevant accounting policy notcs. Tlic prcsenlation currcncy of Iliese financial statements is sterling. All amounts in the financial statemcnls have been roundcd lo Ilie nearest £1. Going concern The financial statements have been preparcd on a going conccrn basi5 as the tnisle¢s ¢onsider that tliere are no material unccrtainties abolit th¢ charity's ability to continuc as a going ¢oThcern nor any significant areas of unccrtainty that affect thc carrying valuc of assets held by th¢ charity- The Irustces have considered both tho Ici'el of funds held ai)d the expccted level of incomc and ¢xp¢nditure for 12 inonths from aulhorising thcsc financial statements. Exemptlon from preparlng n Cash flow statement The charity opted to early adopt Bulletin I published on 2 February 2016 and have tliercfore not included a casli flow statement in these financial slalcments. Page 9
Ballee & Harryville Community Enterprises Notes to the Financial Statements for the Year Ended 31 mai.ch 2024 Judgements I'he preparation of the financial statements requir¢s nianagenient to make judgements, e5tiniates and assumptions that affect the application of accounting policies and the reported amount of as5els and liabililies, income and exp¢n5e5. The estimates and associated assumptions are based on historical experience and othcr ractors that are considered lo be relevant. Acbjal results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basi5. Revision5 to accounting estimates are recognised in Ihc period in which ihe estimate is revised wherc the revision affc¢ts only that period, or in the period of the revisioli and future periods where the revision affects both current and future periods. Key sources of estimatlon ui)certalThty Tangible Fixed assets Tangibl¢ fixed assets are depreciated over their useful economic lives taking into account residual values. where appropriate. The 4¢tual live5 of the assets and residual values arc llssesscd annually 3nd may vary dcpcnding on a number of factors. In re-assessing asset Iivc5, factor5 such a5 tnaintenance programmes and technological innovation are taken into account. Residual value assessments consid¢r issues such as future market condition5, the remaining life of the asset f4nd projected disposal valugs. The carrying amount is £366,453 (2023 -£402,953). Income and endowments All income is re¢ogniscd once there is a Icgal or constructive obligation to that in¢onie aftcr any perforniacc conditions have been mcl, Il)c umount can bc in¢asur¢d rcliably uii(i il is probabl¢ ihal incomc will bc received. All incoine is allocaled to the applicable iiiconie beading that ag8regate similar inconie to that calegvory. Grants recelvabl¢ Gi'ants are recognised whcn thc charity lias an entitlemcnt to the funds and any condition8 linked to the grants havc been met. Wliere perfonnance conditions &rc atlachcd to thc grnnl and are yet to be met. the income is rccognised as a liability and includcd on th¢ balanc¢ sheet as deferred income to bc rclcascd. Otli¢r tra(ling actlvilies The charity gencrates rental income by utilising the business workspace to further its primary aims and objectives. Expendlture All expenditure is recognised once there is a legal or constClive obligation to tliat expenditure, it is probable settlement is requir¢d and the arnounl can b¢ measured reliably. All costs are allocated to the applicable expendittire heading that aggregate similar costs to that category. Wliere cos15 cannot be directly atli'ibuted to particu174r headings they liave been allocated on a basis consistent with the use of rc50urces, with Central staff Costs allocatcd on the basis of lime spent. and depreciation charges allocated on th¢ portion of th¢ asset's use. Oilier support costs are allocated based on tlie spread of staff costs. Cliarltable acilviiles Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for ils beneficiaries. It includes boih costs that can be allocated direcily to such activities and those costs of an indircct nature necessary lo support them. Page 10
Ballee & Harryville Community Enterprises Notes to the Financial Statements for the Year Ended 31 March 2024 Tgxgtlon The charity is considered lo pass the tes15 set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meelB the definition of a charitable cornpany for UK corporation tax purpose5. Accordingly, the charity is potentially exeinpt from laxation in respect of income or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Act 201 O or Section 256 of the Taxation of Chargeable Gaiiis Act 1992. to the exient that such income or gains are applied exclusively to charitable purpose5. Depreclatlon and amortisation Depreciation is providcd on tangible fixed assets so as to write off the cost or valuation. less any estimated residual value, ovcr their expcclcd use] economic life as follows: A55et class Frcchold Land and Buildings Depre¢l•tion method and rAte 40/0 Straight line basis Impalrment of flxed assets Th¢ Gompany assesses at each reporting dale whether tangible fixed assets are impaired Trade debtors Trade debtors are amounts due from customers for s¢rvi¢es perfonn¢d in the ordinary course ofbusiness. Trade debtors are recognised initially at the transaction price. They subsequently measured at amortised cost Using the effective interest method, le55 provision for irnpairnienl. A provision for the impainnent of trade debtors is established when there is objective evidence that the eharily will not be able to collect all amounts due according to the original temls of the re¢¢iv8bles, Cgsh Ind eash oqulvalents Cash and c8sli equivalents comprise cash on hand and call d¢posits, and other short-lerm highly liquid investments that Rrc readily convertible lo a known amount of cash and are subjcct to an insignificant risk of change in value, Trad¢ ¢redltors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are Glassified as current liabilities if the ¢harity does not have an unconditional right, at (he end of the reporting period, to defer settlement of thc creditor for at least twelve months after the reporting dale. If there is an unconditional right to defer seltleiiient for at l¢as¢ twelve months after the reporting date, they are presented a5 non-current liabilities. Borroivlngs Inlere¢t-bearing borrowings are initially recorded at fair value, net of transaction costs. Inlere5t-bcaring borrowings are subsequently carried at amortised cost, with the difference between the procccds, nct of transaction costs. and the amount due on redemption being recognised as a charge to the Statcmenl of Financial A¢liviti¢s over the period of the relevant borrowing. Interest expense is recognised on the basis of the etTective interest melliod and is included tn interest payable and similar charge5. Borrcwing5 are classified as current liabilities unless the charity has an un¢onditional right to defer settlement of the liability for at least twelve month5 after the reporting date. Page 11
Ballee & Harryville Community Enterprises Notes to the Financial Statements for the Year Ended 31 March 2024 Fund structure Unreslricled income fuiids are general funds that are available for use at the trustees discretion in fijrtherancc of the objectives of the charity. Restricted incoine funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that arca or purpose. FinanclAI instruni¢nts Clnssificalioii Financial assets and financial liabilities are recognised when the charity becomes a party lo the contractual provisions of the inslrumenl. rinancial liabilities and equity instruments are classified according lo the substance of the contractual arraiig¢menls eiilered into. An equity instrumcnt is any contract that cvidcnces a residual interest in the assets of the charity after deducting all of its liabilities. Jiecognilion dnd iiieasmieiiieiil All finan¢i81 asscls and liabilities are initially measurcd al transaction pricc (including trons8¢1ion costs). except for those financial assets ¢lassificd a5 al fair value Ilirougli profit or loss. which are initially measured at fair value (which 1.8 nonnally the transaction price excluding transaction costs). unless tlie arrangemenl constitules rinancingy Iransaction. Ir an arrangemenl constitutes 8 financing transaction, the financial assel or financial Iiabilily is measured at the pi'esciit value of the tUre paymeills discounted al a niarkel rale of interest for similar dcbt instrument. Financial assets And liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable Tight to scl off the rccogni5ed amounts and the charity inlends either lo settle on a net basis, or to realise the assct and setilc tlie liability 5iniultaneous1y. Finan¢i&l assets arc derecognised when and only when a) the coiitracbjal rights lo the Cash flows from the financial asset expire or ar¢ 5ciilcd, b) thc charity transfers lo another party substantially all of the risks and rcward5 of ownership of Ilic financial assct, or c) Ihc charity, despite hllving retained Some, but nut all, Significant risks and rewards of ownci-5hip, has ttan5ferrcd control of thc asset lo anoilier parly. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancclled or expires. Page 12
Ballee & Harryville Community Enterprises Notes to the Financial Statements for the Year Ended 31 March 2024 3 Income from chArltable aetlvitles Unrestricted fund5 General Restrleted funds Total 2024 Total 2023 Rental In¢ome Service Charge Good Morning Prograinme-community Safety Partnership Conllllunity Clustcr Progran]me-Mid & East Antrim Borough Council Community Cluster Programmc-DSD Sundry Income Wind Turbine Ren¢wablc Energy Project 53.963 9,893 53,963 9,893 54,180 9,936 905 15,446 15,446 18,406 5,759 5,759 2,751 16,948 2.751 433.456 66.607 21.205 87.812 533,831 Page 13
Ballee & Hari"yville Community Eiiterprises Notes to tlie Financial Statements for the Year Eiidcd 31 March 2024 4 Exp¢Nditui'e on ¢liaritRble activities Unrestricted Total 2024 TotAI 2023 Cenerol Restricted Rcnl collection fee Sundry expenses Accounlancy fees Bank charges Dud debts WTitten o£T Liglit, heat and power Insurance Good Moming Programrne-comniunity Safely Partnership Community Cluster Programme-mid & East Anlrim Borough Council Community Cluster Pro8rsJmmc-DSD Technical Assislllnce Renewable Energy Project Dcprcciation of freehold property 5,396 17 2,370 101 5,396 17 2.370 loi 5,418 1,889 2,300 312 276 3.458 4,365 2,809 4,973 2,809 4.973 905 l5,451 l5.451 18,503 7,014 7.014 16,948 (543) (543) 36.500 393,021 36,500 36,500 52,166 21,922 74,088 483,895 £52,166 (2023 £54,518) of tlie above expenditure was allribulable to unrestri¢ted funds And £21,922 (2023 £429,377) lo restricted funds. Page 14
Ballee & Harryville Community Enterprlses Notes to the Financial Statements for the Year Ended 31 March 2024 5 N¢t Incomingloutgolng resources Net incoming resources for the year include.. 2024 2023 Accountancy service5 Depreciation of fixed as5els 2,370 36,500 2,300 36,500 6 Trustee5 remuneratlon And expenses No tN5tees, nor any persons ¢onne¢ted with the have received any remuneration from the charity during the year. No trustec$ have reccived any other benefits from the charity during ¢h¢ year. 7 Staff coJt5 The monthly average number of persons (including senior management I leadership team) employed by the charity during the year eApressed as fvll lim¢ equival¢nts was as follows: 2024 2023 Administration No employee received emoluments of more than £60,000 during the year. 8 Tlxatlon The charity is a rcgistcred charity and is therefore exempt from taxation. Page 15
Ballee & Harryville Cominunity Enterprises Notes to the Financial Statements for the Year Ended 31 March 2024 9 T Angible fixed assets LAnJ Mnd bulldlngs Total C05t At l April 2023 9 l2.487 912.487 At 31 Marcli 2024 912,487 91?.,487 DepreclAtlon At l April 2023 Charge for the yev¢r 509.534 36,500 509,534 36,500 At 31 March 2024 546,034 546,034 Net book i'alue At 31 Marcli 2024 366,453 366.453 At 31 March 2023 402,953 402,953 10 Debtors 2024 2023 Trade debtor5 Prepaymenls Other debtors 5,738 419 22,460 28,617 5.594 367 600,507 606,468 I I Cash and cash oquivttlents 2024 2023 Cash at bank 450,034 220,186 Bal4nee5 held by the chArity that Are not available for use by the charity 2024 2023 Balances hcld by the charity that arc not available for use by the charity 2.020 2,020 Lnclud¢d within cash are amounts relgting to tcnant deposits held by the charity. Thesc amounts have been ring-fenced by the trustees and May be repaid to the tenants upon satisfactory completion of their rental contracts. As such. the trustees have decided not to spend these ndS and included a corresponding creditor in the financial Statements and as such there is llo effect on the nel assets figure. Page 16
Ballee & Harryville Community Enterprises Notes to the Fxnancial Statements for the Year Ended 31 March 2024 12 Creditors: amounts falling due wlthln one year 2024 2023 VAT grant repayabl¢ Other creditors Accruals 3,885 14,020 3,242 21,147 2,211 405,994 11,169 419,374 13 Contlngent Ilabilities Following the sale of tlie final wind turbine site in the previous year, a grant cl&wback by the Mid & East Anlriin Borough Council has b¢¢n agrecd, received full council approval and been paid during the year so at 311312024 Iherc is no longer any contingent liability. 14 Funds B2lance at 31 MArch 2024 BalAnce 4t I Aprll 2023 Incoming resources Resources expond¢d Transfers Unrestrlcted funds General Rental income and service charge Rc$trlct¢d fund5 Community Cluster Programmc-mid & E8St Antrim Borough Council Corrununity Cluslcr Progr#mm¢-DSD Renewable Energy Project Property Grant Fund Children In Need 316.618 66,607 (52,166) 36,130 367.189 15,446 (15,451) 5,759 (7,014) 543 1,255 110,812 378.623 4.180 1.355 341,233 4.180 (37.390) Total restrlcted fund5 493.615 21.205 21,922) 36.130) 456,768 Total funds 810,233 87,812 74.088 823.957 Page 17
Ballee & Harryville Community Enterprises Notes to the Financial Statcments for tlie Year Ended 31 March 2024 Balancc At 31 March 2023 Balgnee at I April 2022 Incomlng resources Resources expended Transfers Uiire5tricted funds Genei'al Rental income and servicc charge 269,727 64,116 (54.518) 37,293 316,618 Rcstrleted Radius Housiiig Funding Networking Event Community Cluster Progr&mme-Mid & East Anlriin Borough Council Conunuility Cluster Programm¢-DSD Reneiyoble Energy Project Property Granl Fund Children In Need Wind Turbine Capital Inveslinent Renewable Energy Projcct 905 (905) 18.406 (18,503) 97 16.948 433,456 (16,948) (393,021) (185,159) 416,013 4.180 255,536 (37,390) 110,812 378,623 4,180 255,536 255,536) I'otal restricted funds 490,570 469,715 429,377 37,293) 493,615 Total funds 760,297 533,831 483,895 810,233 Page 18