Twaddell & Woodvale Residents Associatlon
Statement of Flnanclal Actlvltles
Year ended 31 March 2023
2023
Restricted
funds Totsl fundg Total funds
2022
Unrestrided
fvnds
Note
Incomo and endowments
Donatlons and legacies
Charitable activities
Investment income
2.071
189.189
121.969
124.040
189.189
233,598
36,269
25
Total Income
191.314
121,969
313.283
269.892
Exp8ndlture
Exp8ndiiure on charitable activities
Total oxponditure
153,822
153.822
127.861
281.683
262,037
127,861
281.683
262.037
Net Income
37.492
(5.892)
31.600
7,855
Transfers between funds
{7,212)
7,212
Net movernent in funds
30.280
1.320
31,600
7.855
Reconclllallon of funds
Totsl funds brought forward
Total funds carrled forward
22,408
52,688
20.506
21,826
42,914
74.514
35,059
42,914
The statement of financial activities includes all gains and losses recognlsed in the year.
All income arKI expenditure derive from contlnulng activities.
Thg noles on pages 10 10 18 fonn part of these iln8nclal statoments.

Twaddell & Woodvale Residents Association
ststernent of Flnanclal Position
31 March 2023
2023
2022
Note
Flxed assets
Tangible f￿ed assets
14
32,351
31.835
Current asset6
Debtors
Cash at bank and in hand
15
559
78.701
8.728
38,609
47,337
79,260
Credltors: amounts falling duo wlthln one year
Net curront assots
16
6.098
3,322
44,015
75,850
73,162
105.513
Total assets less currnnt liabilltles
Credltors: amounts falling duo aftar more than one year
Net assets
17
30.999
32.936
74.514
42.914
Funds of the charity
Restrtcted fund5
Unrestricted funds
21.826
52.688
20,506
22,408
Total charity funds
20
74.514
42.914
These financial statements were approved by th8 board of trustee5 and authorised for issue on 13
November 2023. and are signed on behalf of the board by:
Colin Anderson
Trustee
The notos on pages 10 to 18 forni part of these ilnan¢lal ststsments.

Twaddell & Woodvale Residents Association
Notes to the Flnanclal Statements
Year ended 31 March 2023
Goneral Infomiatlon
The Charfty is a public benefit entity and a registered charity in Northem Ireland and is
unincorporated. The address of the principal office is The Cabin, 3 Twaddell Av8nue. Bebfa5t,
BT13 3LA.
Statement of compllance
These financial statements have been prepared In compliance with FRS 102, The Flnancial
RepDrting Standard applicable in the UK and the Republic of Ireland,. the Statement of
Recommended Practice applicabl8 to charities wepaTlng their accounts in accordance with the
Flnancial R8POrting Standard applicable in the UK and Republic of Ireland (FRS 102) {Charities
SORP (FRS 102)) and the Charities Act (Northem Ireland) 2008.
Twaddell Woodvale Residents Association meets the definilion of a public benefit entity under
FRS 102.
Accounting policies
Basis of preparatlon
The financlal statements have been prepared on the historical cost basi5. as modified by the
revaluation of certain financial assets and liabilities and investment PToperties measured at fair
value through income or exp8nditure.
The financial staternents are prepared in 5terllng, which is the functional currency of the entEty.
Going concern
There are no material uncertainties about the charity's ability to continue.
Dlsclosure exomptlons
The charlty has taken advantage of th8 exemption in SORP 2015 from the requlrement to
produce a cash flow statement because it is a small charity.
Judgements and key sources of estlmatlon uncertalnty
The preparation of Ihe financial statements requires management to make judgements,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors. including expectations
of future events that are believed to be reasonable under the circumstances.
Fund a¢countlng
Unrestricted funds are available for use at the dlscretion of the twstees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for partlcular future project or
commitment.
Restricted funds are subjected to restrictions on thelr expenrfilure declared by the donor or
through the temis of an appeal, and fall into one of two sub-classes: restricted income funds or
endowment funds.
10

Twaddell & Woodvale Residents Associatlon
Notes to the Financial Statements (conNnued)
Year ended 31 March 2023
Accountlng poll¢les (contlnu
In¢omlng resou￿0$
All incoming resources are included in the statement of financia5 activitias when entitlement has
passed to th8 charity. it is probable that the economic benefits associated with the transaction
will flow to the charity and the amount can be reliably measured. The following specifsc policles
are applied to particular categori8s of income:
Income from donations or grants is recognlsed when there Is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy Income is recognbsed when recelpt is probable and entitlement Is established.
income from donated goods is m8asured at the fair value of the goods unless this is
impractical to measure reliably. in wh￿h case the value is derived from the cost to the donor
OT the estimated resale value. Donated facilities and services are recognised in the
accounts when received rf the value can be reliably measured. No amount5 are included for
the contribution of gen8ral volunteers,
income from contracts for the supply of sernices is recognlsed with the delivery of the
contracted seNice. This is classified as unrestricted funds un18SS there is a contraciual
requirement for il to be spent on a particular purpose and ￿turned if unspent. in which case
it may be regarded as r8strlcted.
Resourcos expendèd
Expendilure is recognised on an a¢cwals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fvlly recover8d. and is classlfied under headings of the statement of
financial activities to which it relates:
expenditure on raising funds includes the costs of all fundraising actNities, events.
non-charit8ble trading acllvities. and the sale of donated goods.
expenditure on charitable activities indudes all Costs incAJrred by a charity in undertaking
activities that further its charitsble aims for the benefit of its beneficiaries. including those
support costs and costs relating to the governance of the charity apportioned to charitable
activitles.
other expenditure includes all expenditure that is neither related to raising furKls for the
charity nor part of its expenditure on Charitable activities.
All Gosts are allo&ited to expenditure categories reflecting the use of the resource. Direct costs
attributable to a singl8 activity are allO￿ted directly to that activty. Shared costs are apporboned
between the activities they ¢ontrTbuie to on a reasonable. justifiable and consistent basis,
Tanglble assots
Tangible assets are initially recorded at cost, and subsequently stated at cost less any
accumulated depreciation and impaiment losses. Any tsngible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impainnent105s8s.
11

Twaddell & Woodvale Residents Association
Notes to the Flnanclal Statements f¢ontlnued)
Year ended 31 March 2023
A¢¢ounling policies {conllnu4d)
Tanglble assets (conllnuod)
An Ir￿rease in the carrylng amount of an ass8t as a resutt of a revaluation. is recognised in other
recognised gains and losses. unless it r￿￿rSeS a charg& for Impairment that has previously been
recognised as 8xp8ndltur8 Within the statement of financial activities. A decrease in Ihe Carrying
amount of an asset as a result of revaluation, is recognised in other recognised galns and losses.
except to which It offsets any previous revaluation gain, In which case the loss is shown within
other recognised gains and losses on the statement of financial activities.
Depreclatlon
Depreciation is calculated so as to write off the cost or valuation of an a55et, less Ils residual
value, over the useful economic life of that asset as follovB:
Freehold propety
Plant and machinery
Fixtures and fittings
20A straight line
89h straight line
8% straight Ilne
Impalrnient of flx•d assets
A review for indicators of impaimient is carried out at each reporting date. with the recoverable
amount being estimated where such indicators exist. Wher8 Ihe carrying value exceeds the
recov8rabl8 amount. the asset is impaired accordlngty. Prior impaimients are also reviewed for
possible reversal at each reporting dats.
For the purposes of impairment testing, when it is not posslble to estimate th8 recoverable
amount of an individual assel, an estimate Is made of the recoverable amount of the
cash-generating unit to whlch th8 asset belong5. The cash-generallng unit is the smallest
identifiable group of assets that includes the asset and generates cash infiows that largely
independerrt of the ￿$h infflows from other assets or groups of assets.
For impalmient testlng of goodwill. the goodwill acquired in a business combination is. from the
acquisition date. allocated to each of the cash-generating unils that are expected to benefit from
the synergies of the combinatton, irrespective of whether other assets or liabilities of the charty
are assigned to those units.
Defined Contrfbutlon plans
Contributions to defined contribution plans are recognised as an expense in the period in whith
the related service 15 provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead to a reduction in fuiure payments or a cash refund.
When contributions are not expected to be settled wholly withln 12 rnonths of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recogni5ed as an experBe In
the period in which it arises.
12

Twaddell & Woodvale Residents Association
Notes to the Flnanclal Statements (contlnued)
Year ended 31 March 2023
Donatlons and legaeies
Unrestrfcted
Funds
Re5tri¢ted Total Funds
Funds
2023
Grants
TASCIT
Belfast City Council
International Fund for Ireland
Capital Grant release
Belfast City Council Woodval8 Festival
CRC
30,897
8,439
82.633
30.897
8.439
82,633
1.937
1.937
134
134
2,071
121,969
124.040
Unrestrlcted
Funds
Restricted Total Funds
Funds
2022
Grants
TASCIT
Belfast City Council
Intemational Fund for Ireland
Capital Grant release
Belfast City Council Woodvale Festival
CRC
30.897
4.514
120.309
30,897
4.514
120,309
1.937
75.941
1.937
75.941
77.878
155.720
233,598
Charltable actlvltles
Unreslrfcted Total Funds Unrestricted Tolal Funds
Funds
2023
Funds
2022
other Income
Ticket Income
55
36,214
36.289
55
36.214
189.189
189,189
189,189
189.189
36,269
Investment Incom•
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Bank interest receivable
25
25
13

Twaddell & Woodvale Residents Association
Notes to the Flnancial Statements fcontlnugd)
Year ended 31 March 2023
Expondlture on charilable acllvltles by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Activity Costs
Support costs
153.822
125.994
1,867
127.861
279,816
1,867
281.683
153.822
Unrestricted
Funds
Restricted Totsl Funds
Funds
2022
Adivity Costs
Support costs
98.859
161.418
1,760
260.277
1.760
98.859
163,178
262.037
Analysls of support costs
Analysis of
support costs Total 2023 Total 2022
Governance costs
1,867
1.867
1,760
Taxatlon
The Charity's activities fall wlthin the exemptlons afforded by the provisions of the Income and
Corporation Taxes Act 1988. Accordingly, there is no taxation charg8 in these accounts.
10. Net Income
Net income is stated after chargin￿(credIting).
2023
2022
Depreciation of tsngible fixed assets
2,604
2.410
11. Independent examlnatlon feas
2023
2022
Fees payable to the independent examiner for:
Independent examination of the financial statements
1.764
1,680
14

Twaddell & Woodvale Resldents Association
Notes to the Flnanclal Statements fconunuedj
Year ended 31 March 2023
12. Staff costs
The total stsff costs and employee beneffts for the reporting p8rfod ar8 analysed as follows:
2023
2022
Wages and salaries
Employer contributions to pension plans
71,361
1.359
80.816
1,359
72,720
82,175
The average head count of employees during the year was 3 (2022: 4). The average number of
full-lime equivalent ernployees during the year is analysed as follows:
2023
2022
Number of staff
No employee re￿iVed employee b8neffts of more than £60.000 during the year (2022." Nil).
13. Trustee romunerallon and expenses
A charity trustse was paid or received any other benefits from employment with the Charity In the
year totalling £29,5TI (2022: £29.577).
14. Tangible fixed assets
Freehold
propety
Plant and Fixtures and
machinery
fittings
Total
Cost
At 1 April 2022
Additions
58.189
27.694
3.120
17.250
103.133
3,120
At 31 Ma￿h 2023
58,189
30.814
17,250
106.253
Depreclatlon
At 1 April 2022
Charge for the year
At 31 March 2023
32,978
1,455
34.433
25.652
495
12,668
654
71,298
2,604
73,902
26,147
13,322
Carrylng amount
At 31 March 2023
23.756
25,211
4.667
3.928
32.351
At 31 March 2022
2.042
4,582
31,835
15. Debtors
2023
2022
Prepaym8nts and accrued Income
Other debtors
289
8,439
559
8.728
15

Twaddell & Woodvale Residents Association
Notes to the Flnanclal Statements (¢onllnu¢d)
Year ended 31 March 2023
16. Creditors: amounts falllng duè wlthln one year
2023
2022
Accruals and deferred Income
Social security and other taxes
1.764
4.334
6,098
1,155
2.167
3.322
17. Credltors: amounts falllng due after morè than one year
2023
2022
Accruals and deferred income
30,999
32,936
18. Deferred Income
2023
2022
At 1 April 2022
Amount released to income
32.936
(1.937)
30.999
34.873
(1.937)
32.936
At 31 March 2023
19. Penslons and oth•r post retirement benefits
Defined contribullon plan5
The amount recognised in income or @xpenditure as an expense in rdation to defined
contribution plans was £1.359 (2022: £1.359).
20. Analysos of charitable funds
Unrestrictsd funds
At
31 March 202
At
1 April 2022
Income Expendlture
Transfe
General fijnds
22.408
191.314
(153.822)
(7.212)
52,688
At
31 March 202
At
1 April 2021
Income Expenditure
Transfe
General funds
15.873
114,172
(98,859)
(8.778)
22.408
16

Twaddell & Woodvale Residents Association
Notes to the Flnanclal Statements (¢onllnu8dJ
Year ended 31 March 2023
20. Analysls of charltable funds (conllnu
Restrlcted funds
At
31 March 202
At
1 April 2022
Incom8 Expenditure
Transfers
Internatlonal Fund for
Ireland
TASCIT
Belfast Clty Council
Department of Forergn
Affairs
Northern Ireland
Housing Executive
Community Foundation
Pears Project
82.633
30,897
8,439
{89,845)
(29,577)
(8,439)
7,212
1.320
430
2,640
430
5.201
5,201
405
405
13.150
20,506
13,150
21,826
121,969
(127,861)
7,212
At
31 March 202
At
1 Aprll 2021
Income Expendlture
Transfer5
Intemational Fund for
Ireland
TASCIT
Belfast City Council
Department of Foreign
Affairs
Northern Ireland
Houslng Executive
Community Foundation
Pears Project
120,309
30.897
4,514
(129.087)
(29,577)
(4.514)
8.778
1,320
430
430
5,201
5,201
405
405
13,150
19.186
13,150
20.506
155.720
(163,178)
8.778
17

Twaddell & Woodvale Residents Association
Notes to the Flnanclal Statements {¢ontlnued)
Year ended 31 March 2023
21. Analysls of nat assots between funds
Unrestricted
Funds
Restricted Total Fund8
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
Credltors greater than 1 year
Net assots
32.351
26.021
(6,098)
{30,999)
21,275
32.351
79,260
(6,098)
(30.999)
74,514
53.239
53,239
Unrestricted
Funds
Restricted Totsl Funds
Funds
2022
Tangible fixed assets
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
31,835
24,929
(3,322)
(32.936)
20.506
31,835
47.337
(3.322)
(32,936)
42.914
22,408
22.408
18

Twaddell & Woodvale Residents Association
Management Infomiation
Year ended 31 March 2023
Th• followlng pages do not fann part of the financial statemonts.
19

Twaddell & Woodvale Residents Association
Detalled Statement of Flnancial Activltles
Year ended 31 March 2023
2023
2022
Income and endowments
Donallons and legaclgs
TASCIT
Belfast City Council
Intemational Fund for Ireland
Capital Grant release
Belfast City Council Woodvale Festival
CRC
30.897
8,439
82,633
1.937
30.897
4,514
120.309
1.937
75.941
134
124.040
233.598
Charltable actlvltles
Other Income
Ticket Incorne
189,189
189.189
36,214
36,269
Investment Income
Bank interèst receivable
25
Total Incorne
313.283
269,892
Expènditure on charitable actlvltles
Activity Costs
Activltles undertaken directly
Wages and Salaries
Pension Costs
Light & heat
Project Costs
Sundry
Transfèrs
Staff Expenses
Telephone
offi￿ Expenses
Depreciation
Repair5 & Maintenance
Insurance
Travel
71.361
1.359
1.739
190.761
4.012
131
1,207
973
921
2.604
80.816
1,359
804
164.132
1,325
2.375
891
781
2.410
3,573
1,161
650
4.748
279,816
260,277
Governance costs
Govemance costs - accountsncy fees
Bank Interest & Charg8S
1,770
97
1,688
72
1,867
1.760
Expendlture on char51able activities
281.683
262.037
Nel Income
31.600
7.855
20