Charity registration number NIC107181 Company registration number N1645803 (Northern Ireland} MARROWBONE COMMUNITY ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023 COMPANIES HOUSE BELFAST )CXTICXE 2810V2024 COMPANIES HOUSE JNI
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MARROWBONE COMMUNITY ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION Dir•¢tors Oavid Adams Denise Burns Philip McTa99art Rory O'connor Ruairi Og O'C0nrr (Appoinled 5 February 2024) Ch•rlty number NIC107181 Company numbef N1645803 Roglsler•d offlce 11113 Gracehill Court Belfast BT14 7RG Ind•p•ndant •xam¥n•r F(wnlaln AccLMJnling Ltd 2nd Floor Donegall House 98-102 Donegall Street Belfast BT12W
MARROWBONE COMMUNITY ASSOCIATION CONTENTS Page Oirectorfs report Independent examinels report Slaiemenl of flnancial acllvilles Balance sheet Notes to the financial statements 6-13
MARROWBONE COMMUNITY ASSOCIATION DIRECTOR'S REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MAY 2023 The directors piesenl Ih8ir annual report and financial statemenls for the year ended 31 May 2023. The financial statements have been prepared in accordance wlih the accounting poliLi¥S sel oul iii nole 1 to the financial stalemenls and comply wilh Ihe charity's governing document, the Companies Act 2006 and "Accounling and Reporting by Charities.. Sialemenl of Recommended Practice applicable to charities preparing their accounts In accordance with the Flnancial Reporting Standard applicable in ihe UK and Republic ol Ireland IFRS 1021. (as amended for accounting periods cornmencing from 1 January 2016) Objectives and activitles The organisations objects are to- To promote the benefit of Ihg inhabilanls ol the Marrowbone area and its environs without distinclion of age. gender race, political. religiou$ or olher opinion. by association with slalulory aulhorities. volunlary organisalions and inhabilanls in a common effort lo advance educaiion and lo provide facilities in the interests of social welfare, for health, recreation and.18isure lime occupalion. with the objecl of improving the conthtions of lifè for the said inhabitants. To promote co-operation tseeen local cornmunlty groups wllh the object ol improving the conditions ol life for th8 inhabilanls in the area ol benefit. To promote and co-ordinale Gommunity developmenl, by enhancing Ihe local S¢Xial inlra$tru¢lure through support, training and resourco provision. The charity trustees hav8 complied with their duty lo have due regard to lh8 ¢ommission's public benefit gtsidance when exercising any pmrs or duties lo which Ihe guidance is relevanl. The directors have paid due regard lo guidance Issued by the Charity Commlsslon in déciding what actlvilies Ihe charity should undertake. Achievem•nls and performance Revlew of the year Tho company was in¢orporaled on 161h May 2017, N1645803. Phase Two of the refurbishment of the hall has been compleled and as of May 2022. Teach Eills is fulty operational, A wide range of community organisalions avail ol Teach Ellis on a weekly basis. It is home lo Sacred Heart Boxing Club and also hosls a youth club, men and women groups and a cornmunily garden. Various programmes throu9houl Ihe year were organised by the Community Developfflenl Workef and Youth Developmenl Worker to furlher our objectives and conlinve lo promole the a¢livilies of Marrowbone Community Association. These activities continue lo have a tangible positive effect on our community. The directors have assessed the major risks to which the charity is exposed, and are satisfied thal systems are in place lo mitigate exposure lo the major risks.
MARROWBONE COMMUNITY ASSOCIATION DIRECTOR'S REPORT (INCLUDING DIRECTORS. REPORTI {CONTINUED) FOR THE YEAR ENDED 31 MAY2023 Structur•• gov•rnanc• and manag•rnent Th• c1118 a ¢gmpBny Ilmll•d by guaronle•. Tho dlr•ciors who •erve<l Jurfng lh• yPAf and up lo the d8ie ol 81gnnlur¥ of the ltnandal Wtemgnl$ 44Yr¢'. D3vld Adoms Den18• Bums John M4llon Phlllp MGTa994rl Danlél Cahn Rory O'connor RuAlrl 09 O'Conr IRe6bgnèd 6 Febru3ry 2024) (Resloned 6 Febrnary 20241 (Apponled 5 F•bru6ry 20241 P40ftts ol tho dlr8clors h88 •ny b•n•fldaJ Inlerpll In Iho ¢tsrnp•ny. ALI of tho ¢lre¢tm aro members ol lh• cofflpany nd guaranl•e to knirtbule £1 In Iho ovenl of a wlndlng up. Th• dlwl¢¢8 report w•• •pprrJved by Ihfj 80• of Olreetor8. Rualrl èg O'connor Oliactor
MARROWBONE COMMUNITY ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF MARROWBONE COMMUNITY ASSOCIATION I fepoit lo Ihg diTeclor5 on my examination ol the financial slalemenls of Marrowbone Community Associalion (the charity) for the year endéd 31 May 2023. Responsibilities and basis of report As the directors ol the charity (and also ils directors for the purposes of company lawl you are responsible for the preparation ol the financial statem8n18 In accordance with the requlremenls of the Companles Act 2006 (the 2006 Act). Having satisfied mysell ihal th8 financial slalemenls of the charity are not required lo be audited under Part 16 of Ihe 2006 Act and are eligible lor independent examination, I report in sPeCt of my examination of the charity's rinanrial 51alemenls carried out under section 65 of the Charities Act. In carrying oul my examSrbalion I have lollowed all the applicable Direcllons given by the Charity Commission under secllon 65(9llb) of the Chanties Act. Independent examlnerfs statemenl I have completed my examination. I confim) that no matters have come to my attentlon in connection with the examination giving me cause lo believe Ihal in any material respecl-. 8ccounting records Wère nol kepi in respect of the charity as require<J by section 386 of Ihe 2006 Act; or the financial slalemenls do nol accord wilh those reGords: or the financial slalements do not comply with the accounting rèquirements of section 396 of Ihe 2006 Act other than any requirement that the accounls gNe a Irue and fair vlew which is nol a matter considered as part ol an independent examlnalion., or the financS81 slalemenls have not been prepared in acGordance wllh Ihe melhods and pAnclples of the Statement of Recommended Praclice lor accounting and reporiing by eharili8s applicable lo ch8rilie8 preparing their accounls in accordance wilh Ihe Financial Reporting Standard applicable in the UK and Republic ol Ireland {FRS 102}. I have no concerns and have come across no other mafters in connection with the examinalion lo which allenlion should be drawn in Ihis report in order lo enable a proper underslanding ol the financial slalements lo be reached. Fountaln Aceounting Ltd 2nd Floor Done9all House 98-102 Donegall Slreel Belfasl BT1 2W Daled.. lry...a%:.u..
MARROWBONE COMMUNITY ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MA Y 2023 Unrestricted Restrlcted funds funds 2023 2023 Total Unrestricteql Reslricted funds funds 2022 2022 Total 2023 2022 Nol•s Incomè Irom: Grant5 and Donations Charitsble aclivities 600 36,173 154,022 7,906 1S4,622 44,079 1,100 14.135 147,935 7,906 149.035 22,041 Total Ineom• 36,773 161.928 198,701 15,235 155,841 171,076 Charitablè aclivliles 35.699 162,270 197.969 15,235 171,870 187,705 Nel incomel(expendllure) and movement in funds 1,074 (342) 732 (16,0291 <16,0291 R•conclllatlon of fund8'. Fund balances al 1 June 2022 1,385 131,547 132.932 1.385 147,576 148.961 Fund balances at 31 May 2023 2,459 131,20S 133,664 1.385 131,$47 132,932 The stalemenl of financial activities includes 011 gains and losses recognised in the year. All incorne and expenditure derive from continuing aclivilies.
MARROWBONE COMMUNITY ASSOCIATION BALANCE SHEET AS AT 31 MAY 2023 2023 Z022 Nol•• Flx•d asselg T8nglblo 08801$ Curronl a8g•ls Cash at bank 8nd In hgnd 459.273 470.8S6 33,260 32,624 Cr•dltorn: •mount$ lalllng due wlthl on? ye&r 10 <3,106 18.8811 Nel Curronl &8s•I• 30, 152 2S,743 Tol•l a•$•to Ivs• ¢uvr•Dt Il•blllll•¥ 489.425 490.599 D•f•frnd Incom• 11 135S.7611 (363,667) Incam• fund8 Genèrel reslrlcled lund8 Rèvalutytlon r•sefva 21,205 110.000 21.547 110,000 12 131,205 2,459 131,547 1,385 Unr•8lrt¢l•d ftjnds 133.684 132,932 Th• comp•ny16 •nUlled lo thè exempllon fiom lh• audll r•qulr8m•nl COnl•lrod In se¢llon 477 of the Companl8s Act 2005, for tha y•ar gnded 31 May 2023. The dlreclors aCknth•dg& Ih8lr rEsponslbS1ilios for ¢orrolying wllh Iho faqulremenls ¢1 the Companles Act 20Q6 ¥1h re8p•cl its ac¢ounling rgcords gnd Ihe prepornlion ol nnanclal slal•menls. Thfj m8mb8ts hgV8 nol requlred Ihg mPanY to obl8ln gn avosll ollls ljnandal $lal•mgnls lor Ihe year bn que$Uon In 8ccordancg vAlh S•¢tion 476. Tha8& fin8n¢lal slalemonl$ h•ve b•on Pre1ad In accordonce wllh Iho provlglons appllcBbl• lo companl•s $ul¥ect lo lh8 small ctsmp8nSBs re9lmB. Th• llnancl81 $18lemenl8 were appro by lh¢ Dlreclor6 on ,.Xi...ul.. I RuAlrl (ig O'connor Dlr•¢lor C4)mpany Roglslratlon No. N164S803
MARROWBONE COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023 Accounting policies Charity inlorniation Marrowbonè Community Association is a private company limilecl by guaran8 incorporaled in Northem Ireland. The registered office is 11113 Gracehill Court, Bellasl, 8T14 7RG. 1.1 Accounllng ¢onvention The financial statements have been prepared in accordaneè wilh Ihè charivs govèming document. the Companies Acl 2006 and "Ac¢ounling and Reporting by Charities: Slatement of Recommended Practs'ce applicable lo charilies preparing Iheii aGcounts In accordance with Ihp Financial Reporting Standard applicablg In Ihe UK and Republic of Ireland IFRS 102)" las amende¢J for arcounling periods commgncing from 1 January 2016). The charily is a Public Benefit Entity as defined by FRS 102. The charily has taken advantage of the provisions in the SORP for charities applying FRS 102 Up(Jate 8ullelin 1 not to prepare a Slalem•nt of Cash Flows. The financial st8lemenls afe prepared in s1orlin9, which is the funcllonal curiency of the charity. Monet8ry amounts in Ihese financial slalemenls are rounded to the nearest £. The financial siatemenls have been prepared under Ihe hislorical cost convention. [modified lo indude the r¢valualion of freehold propertles and lo include inveslmenl properlies and certain financial inslrurnenls al fair value). The principal accounting policies adopted are set oul below. 1.2 Going Concern Al the lime of approving Ihe financial siatements, the direclors have a reasonable expertation that Ihe charity has adequale resources to continue in operational existence for the for8seeable tulure. Thus the directors continue lo adopt the going concern b88is of accounting in pieparing the financial siatemenls. 1.3 Charllablè funds Unreslricled funds are available lor use al the discretion of the direclors in furtherance of their Charitable obje¢lives. Reslricled funds are subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are sel out in the notes lo the financial stalemenls. Endowment fijnds are subiecl lo speciffic ¢ondilions by donors that the capilal musl be Maintained by the charily. 1.4 Income Income is rewnised when the charity is legally enlilled to it after any performance condilions have been mel. the amounts can be measured reliably, and il is probable that inceme will be received. Cash donations are recognised on raceipt. Other donations are recognised once the charity has been notified of the donation. unless performance condilions require deferral ol the amounl. Income tax recoverable in relation lo donations received under Gift Aid or dee(is of covenanl is recognised al the lime of the donalion. Le9acies are recognised on receipt or Otherwise if Ihe charily has been notified of ¥n impending dislribulioh. Ihe amount is known. and receipt is expecled. If Ihe amount Is not known. the le9a¢y is Irealed as a conlingenl asset.
MARROWBONE COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2023 Accountlng pollcles (Contlnued) 1.5 Expendilure Expenditure is recognised once there is a legal or conslructlve obligation to transfer economic benefit to third party, il Is probable Ihal a transfer of economic benefits wlll be required in settlement, and the amounl ol Ihe obligation can be mea$ured reliably. Expenditure is classified by activity. The costs of each activity are made up ol the total ol direct costs and shared ¢osls, in¢luding $UPPOrt wsts involved in undertaking each activity. Direct costs attributable to a single activity are allocaled directly lo that activity. Shared costs which conlribute lo mora Ih8n one activity and support costs which are not attributable lo a single activity are apportioned botween those activities on a basis consislenl wilh the use of resources. Central Staff costs are allocated on Ihe basls of lime spent, arKI depreciation char9es are allocated on the portion ol the assel's use, Prolesslonal fees 1.6 Tanglble fixèd assets Tangiblè fixed assets are initially measured at cost and subsequently measured at cosl or valuation. net ol deprecialion and any impairrnenl los$es. 25% slraighl liné Oepreclalion Is faCO9nis•d so as to write off Ihe cost or valuation ol as$•ls ov•r Ihelr useful Ilvas on thé lollowing bases.. Freehold land and buildings Plant and equipment Fixtures and fitlin9S Cornpulers 29h straighl line 25OA slraighl line 25•A slraighl line 25•A straighl line The gain or loss arising on the disposal of an asset is determined as Ihe diffeience between the s818 proceeds and Ihe Carrying valu8 of the asset, and is rewnised In Ihe slalemenl ol financial activities. 1.7 Impalrment of flxed assets Al each r8porlin9 end dale, the charity reviews the carying amounts ol its langible and intangible a5S81s to delermine whether there 16 any indlcatson thal those assets have suffered an impairrnenl loss. 118ny such indication exlsls. lh8 recoverable amounl of the assel is eslimaled In order to determine the exlenl of Ihe impairment loss (il any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held al call wilh banks, other 8hort.term liquid inveslments wilh original maiurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in currenl liabilities. 8a$l¢ flnanclal assets 88sic financial assets. which include debiors an(J cash and bank balances. arè initially measured al transaction prlce including Iransactlon cosls and are subsequenuy carried al amortised cost using the effeclive interesl melhod unless ihe arrangement constilules a financing Iransaclion. where Ihe Iransaclion is measured al th8 present value of the future receipts discounled at a mark81 rale of interest. Financial assets lasslfied as receivable wilhln one year are not amortised.
MARROWBONE COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2023 Accountlng policies Iconlinued) Baslc financlal Ilabililies Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement conslitutes a financing transaction, where the debt inslnjmenl is measured al the present value of the future payments discounted al a market rale of inlerest. Financial liabililifjs dassified as payable within one year are nol amort15ed. Debt instruments are subsequently carried at amortised cosl, using the effeclive interest rale method. Trade credilors are obligations lo pay for 9oods or seNices Ihat have been acquired in Ihe ordinary course ol operalions from suppliers. Amounls payable are classified as current liabilities if payment is due within one year or less. 11 not, they are presenled as nonrycurrent liabilities. Trade creditors are recogni5ed initially at transaction price and subsequenuy measured at amortised cost using the effective inleresl method. Derecognltlon of flnanclal Ilabllltles Financial liabilities are derecognised when the charlly's contractual obligations expire or are discharged or cancelled. 1.9 Employeo b8n•flts The cosl of any ui)used holiday eniillemenl 1$ fecognised in the perlod in whlch the employee's seNlces are receivèd. Termlftalion benefits are regnised immediately as an expense when the charlly is demonstrably ¢ommiiied to lemiinale (he employment of an employee or lo provide lerminallon benefits. Critical accounlin9 estimales and judgements In Ihe applicallon of Ihe charity's accounting poliGi83. the directors are required to make judgemenls, eslimales and assumptions aboul the carrying amount of assets and liabilities Ih81 are not Teadily apparenl from other sources. The eslimale5 and associaled assumptions are based on historical experience and olher factors Ihal are considered lo be relevant. Actual results rnay differ Ifom these eslimales. The estimates and un¢Jerlylng assumptions are revlewed on an ongoing basis. Revislons lo accounting eslimales are reco9nised in Ihe period in which the estimate is revised where Ihe revision affecls only Ihat period, or in the period of Ihe revision and futuro perSods where tho revision affects bolh currenl and future periods. Donatlons and legacies Unrestricted Restrictèd funds funds Total Tolal 2023 2023 2023 2022 Oonalions and gifts Grants receivable 600 600 154,022 154,022 149,035 600 154,022 154.622 149,035 For the year ended 31 May 2022 1,100 147,935 149.035
MARROWBONE COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2023 Oonations and legacles (Continued) Income from charitable aclivities 2023 2022 Rent and room hi Less.. deferred income 36,173 7.906 14.135 7.906 44,079 22.041 Analysis by fund Unrestricted lunds Reslricled funds 36,173 7,906 14.135 7.906 44,079 22,041
MARROWBONE COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023 5 Charltsble activilies Restrlcted Unreslricted Fund Fund Expendilure Expenditure Total 2023 Total 2022 2023 2023 Staff cosls Depreciation and impainnent Heat & Lh1 Telephone & Inlemel P051age, slalionery & adverti¥lng 112,293 17,609 18,261 1.865 115,893 17.609 18.261 4.392 110,547 16.103 5.923 2,505 2,527 1,679 4,359 17,058 2,982 1,679 6,199 21.167 2,982 1.113 $87 3.186 3.143 2.878 37.429 3,039 441 497 2.417 2.183 Repairs & mainlenance Programme expenses Insurance General expefises Bank chaT9es Leasing expens8S Accounlancy Commlllee Tralnlng Tuck shop & calering 1.840 4.109 1.113 587 3,186 1.801 1,801 179,879 18.090 197.969 187.10S 179,879 18.090 197.969 187,105 Analysls by fund Unreslricled funds Reslriclèd funds 17,609 162,270 18.0¢) 35.699 162,270 15.235 171,870 179,879 18.090 197,969 187,105 For the year onded 31 May 2022 Unreslricled funds Restricted funds 15,235 15.235 171.870 171,870 171.870 15,235 187.105 Directors None ol the directors (or any persorks connected wilh them) received any remuneralion or benefits fiom the charily during Ihè year. 10-
MARROWBONE COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023 Employ••$ The average monlhly number ol employees during the year was.. 2023 Number 2022 Number io EmployftTr•nt costs 2023 2022 Wages and salaries 115,893 110.547 Thefe were no employees wtrK)se annual r8mun8ralion was more Ihan £80.000. Romun•fatlon of key management personnel The remuneration of key mana9ernent personnel is as fdlows. Taxatlon The charily is exempl from laxation on Ils activities because all ils Income is applied for charitable Purposes. Tanglble fixed assets Fr••hold land and buildlngs Plant and Flxfvr•s and •quIFvnent fi¢llno$ Compulevs Tot Cost At 1 June 2022 Addllions $06,7 1.847 16,056 6,025 22,022 $46,715 6.025 Al 31 May 2023 506.790 1.847 22.081 22,022 552,740 Depreclatlon and Impalrment Al 1 June 2022 Oepreciaiion charaed In Ihè year 42,743 10,136 923 462 16,056 1,506 16,135 75,857 17,610 Al 31 May 2023 52.879 1,385 17,562 21.641 93,467 Carrylng amount Al 31 May 2023 453,911 462 4,519 459.273 At 31 May 2022 464.046 923 5,887 470,8S6 11
MARROWBONE COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS {CONTINLPED) FOR THE YEAR ENDED 31 MA Y 2023 10 CredStors: amounts falllng due wlthln one year 2023 2022 Accrnals and defeffed income 3.108 6,881 11 Government granls Monles regarding the premlses project is bein9 managed by 8ell8sl Clty Council (8CC) In agreament wlth Marrowbona Community Associalion and OFC Ilhe main funder). Monies toward$ the projecl amounted 10 £395,290 in 2019 IDFC £161.758 and 8CC £233.532). This non-monelary gr8nl is being accounted for by Ihe accruals melh¢)d lor capital based granl. Income. Deferred Sncoma 1$ induded In the financial slatoments as follows.. 2023 2022 Dolerred Income 1$ included wilhin.. Shown as deferred income on Ihe face ol the balance sheet 355,761 363,667 Movemenls in th8 year.. Otrlerred income al 1 June 2022 Released from previous periods 363.667 17,906) 371,573 (7,906} Deferred income al 31 May 2023 355,761 363,667 12 Restricted funds The reslricled funds ol the charity comprise Ihe unexpended balare$ of donalSons and grants hold on trust subject lo specific conditions by donors as lo how they may be used. At 1 June 2022 Incoming résources Rosources expended Al 31 May 2023 131,547 161,928 {162.270) 131.205 Previous year,, Al 1 June 2021 Incoming resources Resources expended At 31 May 2022 147,576 155,841 {171,870> 131,547 12-
MARROWBONE COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023 13 Unrestricted funds The unreslricled funds of the charity comprise the unexpended balances of donationb ¥fid yiuiil$ which are not subje¢t to speafic condilions by donors and grantor5 as lo how they may be vsed. These include designaled funds which have been sel aside out of unrestricted funds by the trustees for specific purposes. Al 1 Jun• 2022 Incornlng rèsources R•sourcas exp•nded At 31 May 2023 General lunds 1.385 36,773 135.699) 2,459 Prevlous year: At 1 June 2021 Incomlng resources Re50ur¢es expended At 31 May 2022 General funds 1.385 15,235 (15,2351 1,385 14 Analysls of net assets between funds Unrestricted funds 2023 Restricted funds 2023 Tolal 2023 Fund balances at 31 May 2023 are represented by: Tangible assels Current asselsllliabililies) Provisions an(J deferred income 459.273 27.693 <355,7611 459,273 30,152 (355.761) 2,459 2,459 131.205 133,664 Unrestflcted funds 2022 R•strlcted funds 2022 Total 2022 Fund balan¢es al 31 May 2022 are represented by: Tangible assels Currènt asselsl{liabililies) Provisions and def8rred income 470,858 24.014 <363.667) 470.856 25,743 {363,667> 1,729 1,729 131,203 132.932 15 Relaled party transaclions There were no disclos8ble relaled party transactions durfng ihe year. 13