Twaddell & Woodvale Residents Association
Statement of Financial Activities
Year ended 31 March 2025
2025
Restricted
funds Total funds Total fijnds
2024
Unrestricted
funds
Incoine and endowments
Donations and legacies
Charitable aclivf(ies
Investment income
2.853
47,451
221
209.176
212.029
47.451
221
235,612
72,108
273
Total income
50.525
209,176
259.701
307,993
Expenditure
Expenditure on charitable activities
Total expenditure
47.314
209,349
256,663
349.494
47.314
209,349
256.663
349,494
Net incomel(expenditure)
3.211
(173)
3,038
(41.501)
Transfers baiween funds
(1.594)
1,594
Net movement in funds
1.617
1,421
3,038
(41.5011
Reconciliation of funds
Total fijnds brought forward
Total fvnds carrled forward
33.013
33,013
74,514
34.630
1,421
36,051
33,013
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 10 to 18 form part of these financial statements.

Twaddell & Woodvale Residents Association
Statement of Financial Position
31 March 2025
2025
2024
Fixed assets
Tangible fixed assets
14
28,319
31.035
Current assets
Debtors
Cash at bank and in hand
15
933
35,888
933
31.959
36,821
32.892
Creditors: amounls falllng due within one year
Net current assets
16
1.964
1.852
34.857
31,040
Total assets less current liabilities
63,176
62.075
Creditors: amounts falling due after moro than one year
Net assets
17
27,125
29,062
36,051
33,013
Funds of the ¢harity
Reslricted funds
Unrestricted funds
1.421
34,630
36,051
33.013
Total charity funds
20
33.013
These financial statements were approved by the board of trustees and authorised for issue on 11 th
November 2025 and are signed on behalf of the t￿ard by..
tyJ-4
Valerie Briggs
Trustee
The notes on pages 10 to 18 forni part of these financial statements.

Twaddell & Woodvale Residents Association
Notes to the Financial Statements
Year ended 31 March 2025
General information
The charity is a public benefft entty and a registered charity in Northem Ireland and is
unincorporated. The address of the principal Offi￿ is The Cabin, 3 Twaddell Avenue. Belfast.
BT13 3LC.
Statement of compliance
These financial statements have been prepared in Complian￿ with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practi￿ applicable to charrlies preparing their accounts in accordance with the
Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 102) (Charities
SORP (FRS 102)) and the Charities Act (Northern Ireland) 2008.
Twaddell Woodvale Residents Association meets the definition of a public benefft entity under
FRS 102.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expendtture.
The financial statements are prepared in sterling. which is the functional currency of the entity.
Going concern
There are material uncertainties about the charivs ability to continue.
Disclosure exemptions
The charity has taken advantsge of the exemption in SORP 2015 from the requirement to
produce a cash flow statement because it is a small charity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management lo 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, includin9 expectalions
of future events that are believed to be reasonable under the circumStan￿s.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charitys purposes.
Designated funds are unrestricted funds eamiarked by the trustees for particular future project or
commitment.
Restricted fvnds are subject&l to restrictions on their expenditure declared by the donor or
through the terms of an appeal, and fall into one of two sutrpclasses". restricted income ftjnds or
endowment funds.
10

Twaddell & Woodvale Residents Association
Notes to the Financial Statements (conllnued)
Year ended 31 March 2025
Accountlng policies (contimi
Incoming resources
All incoming resourGes are included in the statement of financial aGtrvities when entitlement ha3
passed lo the charity: it is probable that the ecor)omic benefrts associated with the transaction
will flow to the charity and the amount can be reliably measured. The following specific poli￿e5
are applied to particular categories of inLX)me:
income from donations or grants is recognised when there is evidence of entiuement to the
gift. receipt ts probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated g¢Jods is measured at Ihe fair value of the goods unless this is
impractical to measure reliably. in which case the value is derived from the cost to Ihe donor
or the estimated resale value. Donated facilities and ServI￿S are recognised in the
accounts when recetved rf the value can be reliably measured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a part￿ular purtw and retumed rf unspent. in which case
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liabilty is irbcurred. Expenditure includes any
VAT which cannot be fully recovered, and is dassified under headings of the statement of
financial activities to which it relates-
expenditure on raising fiJnds includes the costs of all fijndraising activities, events.
non-charitable trading activities. and the sale of donated goods.
expenditure on charitable 8Ctivrf(ies includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the govemance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising fijnds for the
charity nor part of its expenditure on charitsble aotivities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
be￿een the activities they contribute to on a reasonable. justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any
accajmulated depreciation and impaimient losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated Impalm￿nt losses.
11

Twaddell & Woodvale Residents Association
Notes to the Financial Statements (continued)
Year ended 31 March 2025
Accounting policies (confrnued)
Tangible assets (contlnu•dJ
An incroase in the carying amount of an a689t a8 a result of a rovaluation, is racognisad in othgr
recognised gains and losses. unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation. is recognised in other recognised gains 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.
Depreciation
Depreciation is calculated so as to Write off the cost or valuation of an asset, less its residual
value, over the useful econom￿ lrfe of that asset as follows:
Freehold propety
Plant and machinery
Fixtures and fittings
2% straight line
80k straight line
8% straight lin8
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date. with the recoverable
amount being estimated where such indicators exist. Where the carying value eX￿edS the
rccovcrable amount. the asset is irnpaired accordingly. Prior impainnents are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the re￿Verable
amount of an individual asset, an estimate is made of the recoverable amount of the
cash-generating unit to which the asset belongs. The Cash￿enerating unit is the smallest
identifiable group of assets that includes the asset and generates cash iTfflows that largely
independent of the cash inflows from other assets or groups of assets.
For impairment testing of goc*)Ivill. the goodwi15 acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefrt from
the synergies of the combination. irrespectNe of whether other assets or liabilities of the charty
are assigned to those units.
Deflnod contrlbutlon plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contrtbuiions are recognised as an asset to the extent
that the prepayment y￿11 lead to a reductK)n in future payments or a cash refund.
When Contributions are not expeeAed to be ¥ettled wholly within 12 months of thc cnd of the
reporting date in which the ernployees render the related service, the liabilty is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in
the period in which il arises.
12

Twaddell & Woodvale Residents Association
Notes to the Financial Statements feonbnu
Year ended 31 March 2025
Donations and legacies
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Donatlons
CRC
916
916
Grants
TASCIT
Belfast City Council
Intemational Fund for Ireland
Capital Grant release
Comtnunty Foundation
Avenue Recyding
35,364
86,821
80.591
35.364
86,821
80,591
1.937
2,500
3,900
1.937
2.500
3.900
2.853
209.176
212,029
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Donatlons
CRC
Grants
TASCIT
Belfast City Council
Intemational Fund for Ireland
Capital Grant release
Community Foundation
Avenue Recycling
35.783
100.000
91.672
35,783
100,000
91,672
1,937
2,500
3,720
1,937
2.500
3,720
1.937
233.675
235.612
Charltable actlvitiès
Unrestricted Total Funds Unrestricted Totsl Funds
Funds
2025
Funds
2024
Other Income
Ticket Income
814
46.637
814
46.637
72.108
72,108
47,451
47.451
72.108
72.108
Investment income
Unrestricted Totsl Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Bank interest re￿1vable
221
221
273
273
13

Twaddell & Woodvale Residents Association
Notes to the Financial Statements (C¢￿tinu•d)
Year ended 31 March 2025
Expenditure on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Activty Costs
Support costs
47.314
207,013
2,336
254,327
2,336
47.314
209.349
256.663
Unrestricted
Funds
Restricted Totsl Funds
Funds
2024
Activity Costs
Support costs
89,868
256,680
2,946
346,548
2,946
89.868
259,626
349,494
Anatysls of support costs
nalysis of
support costs Totsl 2025 Totsl 2024
Govemance costs
2.336
2.336
2.946
Taxatlon
The Charitys aclivrties fall within the exemptions afforded by the provisions of the Income and
Corporation Taxes Act 1988. Accordingly. there is no taxation charge in these accounts.
10. Net in¢omel(expenditure)
Net incomel(expendrture) is stated after chargin91(crediting):
2025
2024
Depreciation of tangible fixed assets
2.716
2,716
11. Independent examlnatlon fees
2025
2024
Fees payable to the independent examiner for.
Independent examination of the finan(ial statements
1.946
2.118
14

Twaddell & Woodvale Residents Association
Notes to the Financial Statements (contirniedj
Year ended 31 March 2025
12. SLth costs
The total staff costs and employee beneffts for the rewrting period are analysed as follows:
2025
2024
Wages and salaries
Employer contributions to pension plans
84,263
709
70.977
1,379
84,972
72.356
The average head count of employees during the year was 3 (2024: 3).
No employee received employee beneffts of more than £60.000 during the year (2024: Nil).
13. Trustee remuneration and expenses
A charity trustee was paid or received any other beneffts from employment with the charity in the
year totalling £34.463 (2023- £29.577).
14. Tangible fixed assets
Freehold
property
Plant and Fixiures and
machinery
fittings
Total
Cost
At 1 April 2024 and 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
58.189
32.214
17,250
107,653
35.888
1.455
26.754
607
13,976
654
76,618
2,716
37,343
27.361
14,630
79,334
Carrylng amount
At 31 March 2025
20.846
4,853
2.620
28,319
At 31 March 2024
22.301
5,460
3,274
31,035
15. Debtors
2025
2024
Prepayments and accrued income
933
933
10. Greoltors: amounts falllng due wlthln one year
2025
2024
Accruals and defe￿ed income
1,964
1,852
15

Twaddell & Woodvale Residents Association
Notes to the Financial Statements f¢ontints8d)
Year ended 31 March 2025
17. Creditors: amounts falling due after more than one year
2025
2024
AGGruals and deferred inGome
27,125
29,082
18. Deferred Income
2025
2024
At 1 April 2024
Amount released to income
29,062
(1,9371
27,125
30,999
(1,937)
29,062
At 31 March 2025
19. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expendiiure as an expense in relation to defined
contribution plans was £709 {2024: £1,379).
20. Analysls of charitable funds
Unrestrlcted funds
At
1 April 2024
At 31 March
2025
Income Expenditure
Transfers
General funds
33.013
50.525
(47.314)
(1,594)
34,630
At
1 April 2023
At 31 March
2024
Income Expenditure
Transfers
General funds
52,688
74.318
(89.868)
(4.125)
33,013
16

Twaddell & Woodvale Residents Association
Notes to the Financial Statements (continued)
Year ended 31 March 2025
20. Analysis of charitable funds (¢ontinu•dJ
Restricted funds
At
31 March 202
Al
1 April 2024
Income Expenditure
Transfers
Intemational Fund for
Ireland
TASCIT
Belfast City Council
Department of Foreign
Affairs
Northern Ireland
Housing Executive
Community Foundation
Pears Project
Community Foundation
Bright Sparks
Avenue Recyding
80,591
35,364
86,821
(82.185)
(33.943}
(86.821)
1,594
1.421
2.5(M)
3.900
(2,500)
(3.900)
(209.349)
209.176
1,594
1,421
31 March 202
1 April 2023
Income Expendtture
Transfers
Intemational Fund for
Ireland
TASCIT
Belfast City Council
Department of Foreign
Affairs
Northem Ireland
Housing Executive
Community Foundation
Pears Project
Community Foundation
Bright Sparks
Avenue Recyding
91.672
35.783
100.0(XI
{96,695)
138,423)
(100,430)
5.023
2,640
430
5.201
{5.201)
405
(405)
13.150
{12.252)
(898)
2,500
3.720
(2.500)
(3.720)
(259,626)
21.826
233.675
4.125
The transfer of unrestricted funds to restricted funds is to cover an overspend of restricted funds
not covered by the funder. Therefore Ihis sperKI was covered by the charitvs general funds.
17

Twaddell & Woodvale Residents Association
Notes to the Financial Statements (conrfnu8d)
Year ended 31 March 2025
21. Analysis of net assots between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Tangible fixed assets
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
1,176
35.400
(1.946)
27,143
1,421
28,319
36.821
(1,946)
(27,143)
36,051
{27.1431
1.421
34.630
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Credilors less than 1 year
Creditors greater than 1 year
Net assets
1,973
32.892
(1.852)
29.062
31,035
32.892
{1,8521
(29,062)
33,013
(29,062)
33,013
22. Golng concern
The financial statements have been prepared on the going con￿rn basis which assumes that
the charity will continue in operational existence for the foreseeable future. The current level of
free unrestricted reserves is £33.454 which is lower than the current level of reserves required by
the Board. Since the year end the trustees have continued to review the financial postlion of the
organisation and are working towards generating new income sources to improve the
unrestricted reserve position and secure the organisation into Ihe bjture.
23. Contingencies
A contingent liability e￿$ts to repay grants and Trust monies receNed should ￿rtaIn conditions
not be fulfilled by the charity. In the opinion of the Trustees. the tems of the Letters of Offers
have been, or will be, complied with and no liabilty is expected.
18