REGISTERED COMPANY NUMBER: NI632080 (Northern Ireland) REGISTERED CHARITY NUMBER: NIC106517
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR GIRDWOOD COMMUNITY TRUST
M.B.McGrady & Co Chartered Accountants Suite 2B Cadogan House 322 Lisburn Road Belfast Co. Antrim BT9 6GH
GIRDWOOD COMMUNITY TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
||Page|
|---|---|
|Reference and Administrative Details|2|
|Report of the Trustees|3 to 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8 to 9|
|Notes to the Financial Statements|10 to 16|
1
GIRDWOOD COMMUNITY TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES Mr Malachy Mulgrew Mr Ian McLaughlin Mr Manus Maguire Ms Janice Beggs Mrs Rosemary McGreevy COMPANY SECRETARY Mr Manus Maguire REGISTERED OFFICE 185 Cliftonpark Avenue Belfast United Kingdom BT14 6DT REGISTERED COMPANY NI019141 (Northern Ireland) NUMBER REGISTERED CHARITY NIC106517 NUMBER INDEPENDENT EXAMINER Mr Seamus McLernon On behalf of M.B.McGrady & Co Chartered Accountants Suite 2B Cadogan House 322 Lisburn Road Belfast Co. Antrim BT9 6GH
2
GIRDWOOD COMMUNITY TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The financial statements have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
## OBJECTIVES AND ACTIVITIES Objectives and aims
The purpose of the charity is to advance peace and reconciliation within Cliftonville, Lower Shankill, Lower Oldpark and their environs of Belfast and to advance the benefit of the inhabitants of the area of benefit, and promote economic and urban regeneration within the locality, and to promote a peace and reconciliation at Girdwood on a cross community basis, for the benefit of the inhabitants of the area of benefit without distinction of political, religious, or other opinion, nationality, ethnic identity, disability or sexual orientation, with the object of improving the conditions of life of said inhabitants and building good community relations within the locality.
## ACHIEVEMENT AND PERFORMANCE Charitable activities
The primary focus of our work is to secure agreement from Belfast City Council to manage the Girdwood Youth Space as a centre to promote peace and reconciliation and economic and urban regeneration.
In 2016 Belfast City Council sought expressions of interest from a suitable cross community organisation to manage the Girdwood Youth Space. One expression of interest was submitted by the North Talks Too project which set up the Girdwood Community Trust as its legal entity.
Belfast City Council decided to procure the services of an independent consultant to develop a community management proposal to manage the Girdwood Youth Space and facilitate the engagement of community and youth organisations around the site.
This consultant facilitated a series of meetings with community and youth organisations around the Girdwood site and the Girdwood Community Trust. This lead to a draft community management proposal. This was an intensive piece of work which took more than 12 months to complete.
After a number of meetings the five areas around the Girdwood site which include Lower Shankill Community Association, Cliftonville, Lower Oldpark, TDK Community area and New Lodge came to an agreement on the way forward for the community management of the Girdwood Youth Space. This led to changes to the Memorandum and Articles of Association at a special meeting on 21st October 2019. Further meetings took place to agree a new community management proposal which was submitted to Belfast City Council in February 2020.
During the current year April 2023-March 2024 Girdwood Community Trust meet 5 times to finalise the proposal for the community management of the Girdwood Youth Space.
## FINANCIAL REVIEW
## Financial Review
The results for the year are set out in detail on pages 7 to 16.
## Reserve policy
Girdwood Community Trust does not yet have a reserves policy. This will be set in the near future once funding is secured. The charity has no deficit at the end of this financial year.
3
GIRDWOOD COMMUNITY TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
## STRUCTURE, GOVERNANCE AND MANAGEMENT
## Trustees' and officers' liability
During the year the Company maintained insurance cover against liabilities incurred whilst acting in their capacity as trustees or officers of the company.
Girdwood Community Trust is a company limited by guarantee with a Memorandum and Articles of Association which was adopted on 10[th] June 2015.
The trustees who served during the year were:
Mr Malachy Mulgrew Mr Ian McLaughlin Mr Manus Mcguire Ms Janice Beggs Mrs Rosemary McGreevy
## Trustee Appointment Information
Trustees are elected by the members or co-opted by the Trustees provided that there shall be at all times equal representation of trustees on the Board connected with member organisations associated with the two main traditions (Catholic, Nationalist Republican and Protestant, Unionist and Loyalist.) This does not affect the nomination and election of other Trustees who have no association with organisations from the two main traditions.
## Public Benefit Compliance
In setting our objectives and planning our activities for the year the Trustees have given careful consideration to the Charity Commission NI’s guidance on public benefit to ensure that the activities have helped to achieve the charitys purposes and provide a benefit to the beneficiaries.
## FUTURE PLANS
We hope that our aspiration to work together as communities and manage the Girdwood Youth Space is achieved in the incoming year.
4
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
## GIRDWOOD COMMUNITY TRUST
## STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees (who are also the directors of Girdwood Community Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant accounting information of which the charitable company's accountants are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the accountants are aware of that information.
Approved by order of the board of trustees on 21 November 2024 and signed on its behalf by:
Mr Manus Maguire, Trustee
Mr Ian McLaughlin, Trustee
5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GIRDWOOD COMMUNITY TRUST
I report on the accounts of the company for the year ended 31 March 2024, which are set out on pages seven to sixteen.
## Respective responsibilities of charity trustees and examiner
As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008 ("the Charities Act")
- follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act
- state whether particular matters have come to my attention.
## Basis of the independent examiner's report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006
2. That the accounts do not accord with those accounting records
3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
4. That there is further information needed for a proper understanding of the accounts to be reached.
## Independent examiner's statement
I can confirm that I am qualified to undertake the examination because I am a registered member of Chartered Accountants Ireland which is one of the listed bodies.
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
Mr Seamus McLernon FCA M.B.McGrady & Co Chartered Accountants Suite 2B Cadogan House 322 Lisburn Road Belfast Co. Antrim BT9 6GH
21 November 2024
6
## GIRDWOOD COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
||||||2024|2023|
|---|---|---|---|---|---|---|
|||||Restricted|||
|||Unrestricted|Restricted|Capital|Total funds|Total funds|
|||funds|funds|Funds|||
||Notes|£|£|£|£|£|
|INCOME AND|||||||
|ENDOWMENTS FROM|||||||
|Donations and legacies||-|-|-|-|-|
|Charitable activities|||||||
|Restricted||-|-|-|-|-|
|Investment income|2|-|-|-|-|-|
|Total||-|-|-|-|-|
|EXPENDITURE ON|||||||
|Charitable activities|||||||
|Restricted||-|-|-|-|-|
|Unrestricted||-|-|-|-|-|
|Total||-|-|-|-|-|
|NET|||||||
|INCOME/(EXPENDITURE)||-|-|-|-|-|
|RECONCILIATION OF|||||||
|FUNDS|||||||
|Total funds brought||-|-|-|-|-|
|forward|||||||
|TOTAL FUNDS CARRIED|||||||
|FORWARD||-|-|-|-|-|
7
## GIRDWOOD COMMUNITY TRUST
BALANCE SHEET AT 31 MARCH 2024
|Notes
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Debtors
8
Cash at bank and in hand
CREDITORS
Amounts falling due within
one year
9
NET CURRENT
ASSETS/(LIABILITIES)
TOTAL ASSETS LESS
CURRENT LIABILITIES
CREDITORS
Amounts falling due after
more than one year
10
NET ASSETS
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS|2024
£
-
-
-
-
-
-
-
-
-
-
-
-|2023
£
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|---|
8
GIRDWOOD COMMUNITY TRUST (NI632080)
BALANCE SHEET - CONTINUED AT 31 MARCH 2024
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.
The financial statements were approved by the Board of Trustees on 21 November 2024 and were signed on its behalf by:
Mr Manus Maguire -Trustee
Mr Ian McLaughlin -Trustee
9
GIRDWOOD COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
## 1. ACCOUNTING POLICIES
## Basis of preparation
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## Fixed assets
All fixed assets are initially recorded at cost.
## Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Buildings - 2% Straight line Plant & Machinery - 20% Reducing balance Fixtures & Fittings - 20% Reducing balance
## Taxation
The charity is exempt from corporation tax on its charitable activities.
## Fund accounting
Unrestricted funds are funds of the charity consisting of a General Fund which is expendable at the discretion of the trustees in furtherance of the charitable objectives of the charity and which has been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for a particular purposes. The cost of raising and administering such funds are charged against the specific fund.
## Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the year of the lease.
10
GIRDWOOD COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
## 2. INVESTMENT INCOME
|Deposit account interest
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Other operating leases|2024
£
-
2024
£
-
-|2023
£
-|
|---|---|---|
|||2023
£
-
-|
## 3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
## 4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## 5. STAFF COSTS
The average monthly number of employees during the year was as follows:
|2024|2023|
|---|---|
|-|-|
No employees received emoluments in excess of £60,000.
## 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
|Unrestricted
funds
£
INCOME AND ENDOWMENTS
FROM
Donations and legacies
-
Charitable activities
Restricted
-
Investment income
-
Total
-|Restricted
funds
Restricted
Capital Funds
Total funds
£
£
£
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|
11
GIRDWOOD COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
|6.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|**–**continued||
|---|---|---|---|---|---|
|||||Restricted||
|||Unrestricted|Restricted|Capital|Total funds|
|||funds|funds|Funds||
|||£|£|£|£|
||EXPENDITURE ON|||||
||Charitable activities|||||
||Restricted|-|-|-|-|
||Unrestricted|-|-|-|-|
||Total|-|-|-|-|
||NET INCOME/(EXPENDITURE)|-|-|-|-|
||RECONCILIATION OF|||||
||FUNDS|||||
||Total funds brought forward|-|-|-|-|
||TOTAL FUNDS CARRIED FORWARD|-|-|-|-|
12
GIRDWOOD COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
|7.
TANGIBLE FIXED ASSETS
COST
At 1 April 2023
Additions
At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income|Long
leasehold
£
-
-
-
-
-
-
-
-|Plant and
Machinery
Fixtures and
fittings
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2024
2023
£
£
-
-
-
-
-
-|Plant and
Machinery
Fixtures and
fittings
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2024
2023
£
£
-
-
-
-
-
-|Plant and
Machinery
Fixtures and
fittings
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2024
2023
£
£
-
-
-
-
-
-|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
|||||-|
|||||2023
£
-
-|
|||||-|
13
GIRDWOOD COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
|9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
Accruals and deferred income
10.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans
11.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
funds
Restricted
funds
Restricted
Capital
Funds
Total
£
£
£
Fixed assets
-
-
-
Current assets
-
-
-
Current liabilities
-
-
-
Long term liabilities
-
-
-
-
-
-|9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
Accruals and deferred income
10.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans
11.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
funds
Restricted
funds
Restricted
Capital
Funds
Total
£
£
£
Fixed assets
-
-
-
Current assets
-
-
-
Current liabilities
-
-
-
Long term liabilities
-
-
-
-
-
-||2024
£
-
-
-
-
2024
£
-
-
2024
funds
Total
£
-
-
-
-
-|2024
£
-
-
-
-
2024
£
-
-
2024
funds
Total
£
-
-
-
-
-||2023
£
-
-
-
-
2023
£
-
-
2023
funds
£
-
-
-
-
-|
|---|---|---|---|---|---|---|
||||||||
||||||||
14
GIRDWOOD COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
## 12. MOVEMENT IN FUNDS
||||Net||
|---|---|---|---|---|
||||movement||
||At 1/4/23||in funds|At 31/03/24|
||£||£|£|
|Unrestricted funds|||||
|General fund||-|-|-|
|Restricted funds|||||
|Restricted Capital Funds||-|-|-|
|TOTAL FUNDS||-|-|-|
|Comparatives for movement in funds|||||
||||Net||
||||movement||
||At 1/4/22||in funds|At 31/03/23|
||£||£|£|
|Unrestricted Funds|||||
|General fund||-|-|-|
|Restricted Funds|||||
|Restricted Capital Funds||-|-|-|
|TOTAL FUNDS||-|-|-|
|A current year 12 months and prior year combined|position is as follows:||||
||||Net||
||||movement||
||At 1/4/22||in funds|At 31/03/24|
||£||£|£|
|Unrestricted funds|||||
|General fund||-|-|-|
|Restricted funds|||||
|Restricted Capital Funds||-|-|-|
|TOTAL FUNDS||-|-|-|
15
GIRDWOOD COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
## 13. RELATED PARTY DISCLOSURES
During the year to 31 March 2024 there were no related party transactions to disclose.
## 14. COMPANY LIMITED BY GUARANTEE
The Company is limited by guarantee and has no share capital. In the event of a winding-up each member undertakes to contribute such an amount, as may be required for the payment of liabilities, not exceeding £1.
## 15. KEY MANAGEMENT PERSONNEL
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity.
16