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← Marrowbone Community Association

2025-05-31-annual-report

Company registration number NI645803

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MARROWBONE COMMUNITY ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

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MARROWBONE COMMUNITY ASSOCIATION

LEGAL AND ADMINISTRATIVE INFORMATION

Directors

David Adams

Denise Burns Philip McTaggart Rory O'Connor Ruairi Og O'Connor Sinead Markey Paul McCann Bridget Corr

(Appointed 24 October 2024) (Appointed 24 October 2024) (Appointed 24 October 2024)

Company number NI645803 Registered office 11/13 Gracehill Court Belfast BT14 7RG

Independent examiner

Fountain Accounting Ltd 2nd Floor Donegall House 98-102 Donegall Street Belfast BT1 2GW

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MARROWBONE COMMUNITY ASSOCIATION

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CONTENTS

Page
Director's report 1-2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet . 5.
Notestothefinancialstatements 6-14

MARROWBONE COMMUNITY ASSOCIATION

DIRECTOR'S REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MAY 2025

The directors present their annual report and financial statements for the year ended 31 May 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The organisations objects are to:

The charity trustees have complied with their duty to have due regard to the commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant.

The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Review of the year

A wide range of community organisations avail of Teach Eilis on a weekly basis. It is home to Sacred Heart Boxing Club and also hosts a youth club, men and women groups, a community garden, créche, welfare rights, education and employment, counselling and cultural diversity services.

Various programmes throughout the year were organised by the Manager and Senior Youth Worker to further our objectives and continue to promote the activities of Marrowbone Community Association. These activities continue to have a tangible positive effect on our community.

The directors have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

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MARROWBONE COMMUNITY ASSOCIATION

DIRECTOR'S REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Structure, governance and management

The charity is a company limited by guarantee.

The directors who served during the year and up to the date of signature of the financial statements were: David Adams

Denise Burns

Philip McTaggart Rory O'Connor Ruairi Og O'Connor Sinead Markey (Appointed 24 October 2024) Paul McCann (Appointed 24 October 2024) Bridget Corr (Appointed 24 October 2024)

None of the directors has any beneficial interest in the company. All of the directors are members of the company and guarantee to contribute £1 in the event of a winding up. :

The director's report was approved by the Board of Directors.

Ruairi Og O'Connor Director

Dated: 12 March 2026

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MARROWBONE COMMUNITY ASSOCIATION

INDEPENDENT EXAMINER'S REPORT

TO THE DIRECTORS OF MARROWBONE COMMUNITY ASSOCIATION

| report to the directors on my examination of the financial statements of Marrowbone Community Association (the charity) for the year ended 31 May 2025.

Responsibilities and basis of report : As the directors of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the charity’s financial statements carried out under section 65 of the Charities Act. In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 65(9)(b) of the Charities Act.

Independent examiner's statement

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| have completed my examination. | confirm that no matters have come to my attention in connection with the

examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.

  2. 2 the financial statements do not accord with those records; or

  3. 3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as partof an independent examination; or

4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ; | have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Fountain AccountingAvcotng 2nd Floor : ~ Donegall House =~ = = Se Se ; ee 7 98-102 Donegall Street Belfast BT1 2GW 12 March 2026 .

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MARROWBONE COMMUNITY ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MAY 2025

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Notes £ £ £ £ £ £
Income from:
Grants and Donations 3 - 158,402 158,402 - 165,403 165,403
Charitable activities 4 30,953 7,906 38,859 27,346 7,906 35,252
Total income 30,953 166,308 197,261 27,346 173,309 200,655
Expenditure on:
Charitable activities 5 33,389 166,308 199,697 19,891 173,166 193,057
Total expenditure 33,389 166,308 199,697 19,891 173,166 193,057
Net income/(expenditure) (2,436) - (2,436) 7,455 143 7,598
Transfers between
funds 21,348 (21,348) - - - -
Net movement in
funds 7 18,912 (21,348) (2,436) 7,455 143 7,598
Reconciliation offunds:
Fund balances at 1 June 2024 9,914 131,348 141,262 2,459 131,205 133,664
Fund balances at 31 May
2025 28,826 110,000 138,826 9,914 131,348 141,262

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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MARROWBONE COMMUNITY ASSOCIATION

BALANCE SHEET

AS AT 31 MAY 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 11 435,770 446,788
Current assets
Cash at bank and in hand 49,235 49,206
Creditors: amounts falling due within
one year 12 (6,230) (6,877)
Net current assets 43,005 42,329
Total assets less current liabilities 478,775 489,117
Deferred income 13 (339,949) (347,855)
Income funds
General restricted funds - 21,348
Revaluation reserve 110,000 110,000
14 110,000 131,348
Unrestricted funds 28,826 9,914
138,826 141,262

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Directors on 12 March 2026

Ruairi Og O'Connor

Director

Company Registration No. NI645803

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MARROWBONE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

Charity information

Marrowbone Community Association is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 11/13 Gracehill Court, Belfast, BT14 7RG.

1.1. Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value}. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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MARROWBONE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

(Continued)

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

Professional fees

25% straight line

1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets over their useful lives on the following bases:

Freehold land and buildings 2% straight line
Plant and equipment 25% straight line
Fixtures and fittings 25% straight line
Computers 25%straightline

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7. Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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MARROWBONE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of , operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Restricted Total
funds
2025 2024
£ £
Donations and gifts - 13,400
Grants receivable 158,402 152,003
158,402 165,403

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MARROWBONE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

4 Income from charitable activities

; 2025 2024
Rent and room hire 30,953 27,346
Add: deferred income 7,906 7,906
38,859 35,252
Analysis by fund
Unrestricted funds 30,953 27,346
Restricted funds : 7,906 7,906
38,859 35,252

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MARROWBONE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

5 Charitable activities
Restricted Unrestricted Total Total
Fund Fund 2025 2024
Expenditure Expenditure
2025 2025
£ £ £ £
Staff costs 76,515 2,306 78,821 95,916
Depreciation and impairment 7,906 3,945 11,851 12,485
Heat & Light 11,209 3,613 14,822 15,162
Telephone & Internet 1,736 2,063 3,799 3,614
Postage, stationery & advertising
1,177 86 1,263 436
Repairs & maintenance 4,629 7,284 11,913 7,574
Programme expenses 55,875 7,670 63,545 46,220
Insurance . 1,241 2,539 3,780 3,341
General expenses - 543 543 560
Bank charges - 724 724 564
Leasing expenses 4,365 - 4,365 2,140
Committee Training - - - 600
Tuck shop& catering - 1,671 1,671 1,845
164,653 32,444 197,097 190,457
Share of governance costs (see note 6) 1,655 945 2,600 2,600
166,308 33,389 199,697 193,057
Analysis by fund
Unrestricted funds - 33,389 33,389 19,891
Restricted funds 166,308 - 166,308 173,166
166,308 33,389 199,697 193,057
For the yearended 31 May 2024
Unrestricted funds 12,485 7,406 19,891
Restricted funds 173,166 - 173,166
185,651 7,406 193,057

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MARROWBONE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

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|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |£|£| |Governance|costs|2,600|2,600| |Analysed|between:| |Restricted|1,655|-| |Unrestricted|945|2,600| |2,600|2,600| |7|Net|movement|in|funds|2025|2024| |£|£| |The|net|movement|in|funds|is|stated|after|charging/(crediting):| |Depreciation|of owned|tangible|fixed|assets|11,851|12,485|

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, 8 Directors

None of the directors (or any persons connected with them) received any remuneration or benefits from the ; charity during the year.

The average monthly number of employees during the year was:

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|||||| |---|---|---|---|---| |2025|2024| |Number|Number| |10|10| |Employment|costs|2025|2024| |£|£| |Wages|and|salaries|78,821|95,916|

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There were no employees whose annual remuneration was more than £60,000.

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||||||||| |---|---|---|---|---|---|---|---| |Remuneration|of key|management|personnel| |The|remuneration|of key|management|personnel|was|as|follows:| |2025|2024| |£|£| |Aggregate|compensation|64,822|57,713|

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MARROWBONE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

  1. Tangible fixed assets
Tangible fixed assets
Freehold land
and buildings		 Plantand
equipment		 Fixtures and
fittings		 Computers Total
£ £ £ £ £
Cost
At 1 June 2024 506,790 1,847 22,081 22,022 552,740
Additions - - 833 - 833
At 31 May 2025 506,790 1,847 22,914 22,022 553,573
Depreciation and impairment
At 1 June 2024 63,015 1,847 19,068 22,022 105,952
Depreciation charged in the year 10,136 - 1,715 - 11,851
At 31 May 2025 73,151 1,847 20,783 22,022 117,803
Carrying amount
At 31 May 2025 433,639 - 2,131 - 435,770
At31May2024 443,775 - 3,013 - 446,788

12 Creditors: amounts falling due within one year

2025 2024
£ £
Accruals and deferred income 6,230 6,877
  1. Government grants Monies regarding the premises project is being managed by Belfast City Council (BCC) in agreement with Marrowbone Community Association and DFC (the main funder).

Monies towards the project amounted to £395,290 in 2019 (DFC £161,758 and BCC £233,532).

This non-monetary grant is being accounted for by the accruals method for capital based grant income.

Deferred income is included in the financial statements as follows:

2025 2024
£ £
Deferred income is included within:
Shown as deferred income on the face ofthe balance sheet 339,949 347,855
Movementsintheyear:

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MARROWBONE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

13 Government grants (Continued)
Deferred income at 1 June 2024 347,855 355,761
Released from previous periods (7,906) (7,906)
Deferredincomeat31May2025 339,949 347,855

14 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

:

At 1 June Incoming Resources Transfers At 31 May
, 2024 resources expended 2025
£ £ £ £ £
Restricted funds 21,348 166,308 (166,308) (21,348) -
Revaluation reserve 110,000 - - - 110,000
Previous year: At 1 June Incoming Resources Transfers At 31 May
2023 resources expended 2024
£ £ £ £ £
Restricted funds 21,205 173,309 (173,166) - 21,348
Revaluationreserve 110,000 - - - 110,000

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 June Incoming Resources Transfers At 31 May
2024 resources expended 2025
£ £ £ £ £
General funds 9,914 30,953 (33,389) 21,348 28,826
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Previous year: Ati June Incoming Resources Transfers At31May —
2023 resources expended 2024
£ £ £ £ £
Generalfunds 2,459 27,346 (19,891) - 9,914

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MARROWBONE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

16 Analysis of net assets between funds

Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 May 2025:
Tangible assets - 435,770 435,770
Current assets/(liabilities) 28,826 14,179 43,005
Provisions and deferred income - (339,949) (339,949)
28,826 110,000 138,826
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 May 2024:
Tangible assets - 446,788 446,788
Current assets/(liabilities) 9,914 32,415 42,329
Provisions and deferred income - (347,855) (347,855)
9,914 131,348 141,262

17 Related party transactions

There were no disclosable related party transactions during the year.

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