BOLSTER COmI￿uNITy FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 COMPANY REGISTRATION NUMBER N1655061 CHARITY REGISTRATION NUMBER NIC 107382 O'HARA SHEARER CIL4RTERED ACCOUNTANTS AND STATUTORY AUDITORS 547 FALLS ROAD BELFAST BTII 9AB BOLSTER COMTrtUNITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 coNrENrs Page Members and Professional Advisors Trustees Annual Report (including the Statement of Trustees Responsibilities in respect of financial statements) Report of the Independent Auditors to the Trustees, 10-12 Statement of Financial Activities (incorw)rating the income and expenditure accoun 13 Balance Sheet 14 Statement of Cash Flows 15 AccountÉng Policies 16-18 Notes to the Financial Statements 19-25 BOLSTER COmN￿NITy FINANCIAL STATEMEPUS FOR THE YEAR ENDED 31ST IIIARCH 2023 OFFICERS AND OTHER INFORMATION Trustees Eamonn Connolly (Chaitperson) Connor Sweeney (Treasurer) Martina Flynn (Vice Chair) Paul Slevin (Secretary) Julie White Judith Mcconville Gerard Flynn Michael Doyle Cathy Hughes Vinod Tohani Chief Executive Officer Jacinta Linden Refjistered Office l Killeavy Road Newry County Down BT35 6EP Auditors O'Hara Shearer Chartered Accountants & Statutory Auditors 547 Falls Road Belf&sL BTI19AB Bankers 42144 Hill Street Newry County Down BT34 IAU Charity Commission for Northern Ireland Registration Number NIC 107382 Page I BOISTER COMMUNtTY FINANCIAL STATEMEM3 FOR THE YEAR ENDED 31ST MARCH 2023 STATÉMEKf OF TRU ES RLSPONSIBILITIES The directors are responstble for prepartng the Trustees, Report and the financial statements in accordance with applicable law and regulations. The Tntstees. wbo arc also directors for the purposes of company law, present their report atid the f￿ancIal statements of the charity for the year cnded 31 st March 2023. Th¢ Truste¢s confirnl that they comply with the requirements of the Charities Act (Northern Ireland) 2008 and Accounting and Reporting by Charitics: Statement of Recommended Practic¢ whiGh appliw to charities preparing their accounts in accordance. with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effectiv@ l January 2015). Under company law the dir￿lor5 tnust not approve the financial st&ternents unless they are satisfied that they giv¢ a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing those financial stat¢m¢ni% the directors are required to: - select suitable accounting policies and then apply them Gonsistently. - makc judgements atid estimatcs that ar¢ ￿aSOnable and prudenL - prepare the financtal statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting re£ords that are suffic lent to show and explain th¢ ¢ompany's trdnsactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also r¢sponsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and d¢t¢¢tion of frnud and oth¢r irregularities. In so far as tbe directors are aware: - there is no relevant audit information of which the companls auditor is unawar¢; and - the directors have taken all steps that they ought to have taken to rnakG themselves awar¢ of any relevant audit inforniation and to establish that the auditor is aware of that information. of the both r 8th December 2023 DATE CONNOR SIVEENEY TRUSTEE Page 2 Reserves Policy Financial Review The charity achieved a net income surplus of £28.583, Surplus of 46.973 lunrestrictedl and Deficit of £18,390 (restricted) derived from a total income of £998,256. The principal funding sources were grants, tenders, social enterprise generated income and income from donations and fundraising. The support of our funders and community advocates continues to be essential to maintaining our programme of activities. Reserves Policy The total reserves as at 31 March 2023 were £455.855, £47,646 {re5trictedl and £408,209 {unrestrictedl. It is the policy of the charity that unrestricted reserves wh ich have not been designated for a particular purpose should be maintained at a level to ensure that in the event of a significant drop in funding, we will be able to sustain the charitys current activities while consideration is given to ways in which additional funds may be raised. It is a strategic objective of the charity to hold a minimum reserves fund of 3 months, which would allow the organisation to be sustainable in times of challenge and to continue to operate without other sources of income. The Board of Directors are keen that a minimum fund of reserves is held for 3 months alongside a strategic aspiration of extending this to achieve a reserves fund of 6 months over the next 5 years. The directors consider that this level should be sufficient to cover three months expenses, and potential wind-up costs, currently totalling £232,966. The Trustees regularly review the level of reserves held and consider opportunities to apply them in line with, and in furtherance of, its charitable objectives. The amount of unrestricted funds held at 31st March 2023 was £175.243. (For 2021: £260.2671. Auditors A resolution to re-appoint the auditors, O'Hara Shearer, Chartered Accountants and statutory Auditors will be proposed at the Annual General Meeting. Responsibilities of the Trustees The charity trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Northern Ireland 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 charity and of the income and expenditure of the charity for that period. Achievements and Performance Bolster Community, previously known as Space Nl is a value's driven, practical, hands-on social enterprise and charity that works to provide seNices, and support to improve wellbeing. Our business model is a hybrid of entrepreneurial vision and values that has earned an enviable reputation as a trusted partner to clients, funders, collaborators and requesters alike. We liken our culture at Bolster to a business head and a social heart. Since 2004, we've had the privilege of helping countless individ uals reach their full potential. From early years right through to later years, we support and strengthen people facing life's tough challenges. Bolster Community has grown from a small campaigning organisation in Warrenpoint, to a key third sector agency providing services, support, training and leadership on community development, resilience and well-being. Our services are centred around supporting three categories- Family• Ability and Seniors. We are registered as a charity with the Charity Commission of Northern Ireland 107382. We are also a company limtted by guarantee registered in Companies House, 655061 Strategic Projetts include: l. Coordination of Newry and Mourne Family Support Hub 2. Practical and therapeutic support for families, including lead organisation role to the Mournes Sure start project 3. Presenting themes for referrals to the family support Hub centre on, low mood/poor mental health in parents and children, Marriage breakdown, Autism, Poverty, Emotional and Behavioural Support for adolescents 4. Homeless prevention and tenancy sustainment projects- in partnership with the NIHE through practical activities including. a social kitchen, navigation and support service for individua Is in housing distress. 5. Ability Services-provision of a wide range of community-based enterprise and training opportunities for young adults with a range of disability, adults with autism and families caring for children with Additional needs 6. Home 2 hospital volunteer led service for adults in the Mournes and Slieve Gullion areas requiring transport to out of area Hospital appointments 7. Levelling Up funded project creating opportunity for employment and training for hard-to- reach women 8. In partnership with Schools, the SHscf and other partners we provide targeted and universal Family Support through a range of evidence-based training programmes and peer support networks 9. A social enterprise making and retailing natural soy wax candles, melts, diffusers whi15t simultaneously providing day opportunities for young adults of mixed ability and developing and delivering evidence-based training programmes for children and parents in need. 10. Bolster Seniors- In 2023, we started to rebuild our seniors, services to include Discover and connect sessions, tea - dances, clover social club, and we continued to provide signposting and practical support for Seniors operating a referral dia l in and traffic light system to monitor seniors impacted by ill health, rural isolation and bereavement. 11. In 2023 we rolled out a range of evidence-based programmes to support children develop coping skills through the CAWT funded MACE Project, in total 1315 children benefitted Key Outcomes for 2023 During 2023 Bolster Community supported 8835 individuals, parents, children, seniors and people of mixed ability. 1315 children and young people took part in education, support and activity sessions. In this financial year Bolster Community provided unique support to 440 single dwelling older people and those identified as risk of homelessness, poor mental health and with low mood. Bolster Community were able to attract and distribute over £91000 in direct financial support for seniors, families and people living with a disability. 202212023 was a challenging year for recruitment and sustainability of staff. The nature of referrals received through the charity and the level and frequency of support required, has become increasingly challenging and complex. Staff have been dealing with a cost-of-living crisis, escalating cost5 in managing their homes as well as a range of unknowns relating to security in employment whilst simultaneously expected to meet increased output5 and outcomes. In acknowledgement of the difficulties in attracting and maintaining quality staffing, trustees acknowledged the need to succession plan and the board recommended terms of reference for a benchmarking exercise and established TOR for a remuneration committee. Over the year202212023 the remuneration committee: Agreed and recommended to the Board the organisation5 new remuneration policy. Agreed and recommended to the board the remuneration of the Chief Executive and the staff team including bonuses. Reviewed and approved matters relating to minimum wage uplifts, benchmark outcomes and pension redress matters Reported periodically to the Board on the work undertaken by the Committee its performance, constitution, and terms of reference to ensure it is operating at maximum effectiveness, and recommended any changes considered necessary for Board approval. Social Return on Investment The charity completed an independent SROI study which calculated that the charity returned £24.00 of social value for every £1 invested. Other Charitable activity and milestones "Autism Connecy, a ground-breaking social space for adults with autism but without a learning disability or mental health diagnosis launched and executed an exciting conference "Empowering Autistic voices" highlighting issues in employment, relationships, education and socially for young adult5 With autism 2. We were successful in providing trauma informed training and support through the MACE Interreg project resulting in 1315 children accessing quality support to build resilience and cope better with life challenges 3. Provision of a summer scheme, benefitting 36 children supported by a major Housing association and the local health trust 4. Through Community foundation Nl funding supported by the DOH fund we were able to establish and develop two new services "After the Bell" and Tots and Tea to ensure an easement of provision so there would be no cliff edge for children and parents once the TNL funding ceased 5. We significantly grew our social value offer, and celebrated some key wins through our growing partnership with Women's Tec/cfs/ and were delighted to be recognised by our peers for this ground breaking work recognised by both the 3rd Sector and Private Sector as an innovative response to social value clauses. During this year Bolster Community staff and CEO have provided input, rep￿sentatIOn and support to the following partnerships, organisations and committees and boards: The Strategic Stakeholder Partnership Newry and Mourne Down District council area Chaired the CYPSP Newry Locality Planning group Member5 of the South Armagh Locality Group Members of the CYPSP Southern area Outcomes group Members of the strategic CYPSP regional Partnership Facilitated a "Joining the Dots" networking event in the Canal Court in Newry Formed a new partnership with Womenstec Belfast and Newry and crs project5 Sustained corporate partnership with Keoghs Cars Newry, Killeavy Castle, Best Estate agents Warrenpoint We have provided mentorship to 4 organisations this year Supported the board of C03 Funding- the following funding applications and income streams were successful in 2022 CFNI- DOH Carers fund The National Lottery Dormant accounts fund NIHE- Homeless Prevention grant/Sustaining Tenancy grant Sure Start - Department of Education Sure Start extension Southern Health and Social Care Trust- Promoting Wellbeing Activities SHSCT-Family Support HUB/ disability/ autism connect Public Health Agency- E155/ Parents Plus NM&D Council - Home 2 Hospital, Generated Income from Social Enterprise, Friends Resilience sales, donations and Room Hire Plans for the Future This is a small synopsis of the Charitable activity we have provided from December April 2022- March 2023 we look forward to progressing and developing relationships with Partner agencies, stakeholders and most importantly the individuals, children and families in the area to ensure more people can reach their potential and thrive. Public Benefit Staternent The direct benefits which flow from our purposes include-. Improved understanding, awareness and reduced social isolation leading to reduced levels of stress, anxiety and loneliness. These benefrts are demonstrated through feedback from participants, regular evaluation and external monitoring and evaluation of our services. Improved partnership working to provide improved health and wellbeing for the constituents and awareness with and between the beneficiaries and stakeholders responsible for planning, services to promote health and wellbeing for an area. These benefits are demonstrated through feedback from participants, evaluation and monitoring of seNices. The benefits of this purpose are provided to those individuals who participate in the proces5 of partnerships as a community representative or agency representative and provide Improved knowledge, resources and access to facilities and education within their locality which may lead to a better understanding of health and wellbeing choices. These benefits are demonstrated through feedback from participants and partners community engagement opportunities and through usage of programmes provided. Improved knowledge, improved collaborative working and information sharing as well as advice and practical support, for individuals and organisations which lead to a better shared understanding of health and wellbeing choices. Improved access to help and support so that individuals may reach their true potential regardle55 of ability, age, youth, infirmity or social and economic circumstance. Additional benefits may include enhanced confidence and serve to help others in the community develop skills as a result of witnessing the success of others Organisational Structure The policy and general management of the affairs of the Initiative shall be directed by the Committee which shall meet not les5 than five times a year and shall consist of not less than four members of the Initiative elected at the Annual General Meeting. Aside from the management committee the organisation has a range of staff including a CEO, Operation Manager, Project Manager, Social Enterprise Officer, Family Support Workers and a range of staff and volunteers who support the project. Related parties None of the Trustees receive remuneration or other benefit from their work with the Charity. Any connection between a trustee or senior manager of the charity to related parties must be disclosed to the full Board of Trustees in the same way as any other contractual relationship with a third party. There were no such disclosures in the current year. Risk Management The Trustees have a risk management strategy which comprises: A finance, audit and risk sub-committee IFARCI which reviews all risk and completes the risk register prior to each board meeting and undertakes an annual review of the risks the charity may face The establishment of systems including a risk register, and procedures to mitigate those risk identified; and the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise This work has identified that financial sustainability is a major financial risk for the charity. A key element in the management of financial risk is via the reserves policy. Attention has also been focused on non-financial risks arising from fire, cyber safety, health and safety of employees, volunteer5 and scheme users. In providing access and opportunities to people and children, the Charity recognises that there are potential risks to children and vulnerable adults. A key element in the management of non-financial risk is the establishment and implementation of a robust chart of policies and procedures including Access Nl Disclosure Check, Child Protection Policy and the renewal and training of staff in this area. The Trustees are satisfied that the necessary policies and procedures are in place to safeguard participants, and ensure that the benefits provided outweigh any potential hami. BOLSTER COMMUNITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS, Opinion We have audited the financial staternents of Bolster Comrnunity (the 'charity') for the year ended J l March 202J which comprise the Statement of Financial ActÈvities. the Balance SheeL the Statement of Cash Flows and the notes to the financial staternents, including a summary of signifjcant accounting policies. The financial reporting fratnework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Stsndard 102 Thefinanclal Reporting Standard applicable in the UK and Repz4blic ofIrelap7d (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financiaI statements: give a true and fair view of the state of the charitable company's affatrs as at J l March 202) and of its incoming Tesources and application of resources, including its income and expenditure for the year then ended. have been properly prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l Janauary 2015) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102). have been prepared in accordance with the requirements of the Cotnpanies Act 2006. Basis for opinion We conducted our audit in accordance with InternatiODal Standords on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's respoDsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK. including the FRC'S Ethical Standard, and we have fitlfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained LS sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern We have nothing to Teport in respect of the following matters in relation to which the ISAS (LfK) require us to report to you where: the trustees, use of the going concern basis of accounting in the preparation of the financial statements is not appropriate. 01 the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. Other information The other inforniation comprises the inforniation included in the annual repor¢ other than the financial statements and our auditor's report theTeon. The trustees are responsible for the oth¢r infonnation. Our opillion on the financial statements does not cover the other information an(( except to the extent otherwise explicitly stated in our Tepo¢ we do not express any forni of &ssurance conclusion thereon. In connection with our audit of the financial staternents, our responsibility is to read the otheT infonnation and, in doing so, consider whether the other infonnation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such mateiial inconsistencies or apparent material misstatements, we are required to detennine whether there is a material misstatement in the financial statements or a material misstatement of the other infomjation. If. based on the work we have perforn]ed, we conclude that there is a material misstatement of this other infonnat10￿ we are required to report that facL We have nothing to report in this regard. Page 10 BOLSTER COMMUNITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS, Matters on which we are required to report by txetption In the light of the knowledge and understandtng of the Trustees and its environment obtaincd in the coutse of the audil we have not identified material misstatements in the Trustees. Rep) We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in OUT opinion.. sufficient ac£ounting recorSe. To the fullest extent permitted by law, we do not accept or assume reswnsibility to anyone other than the chariiable company and its members as a bod for our audit worL for this rep)rL or for the opinions we have forn)eLi LAWRENCE SHEARER F.C.A., Senior Statutory Auditor FOR AND ON BEHALF OF O'HARA SHEAREIL Stakntory Auditor O'EL4114 SHEARER CHARTERED ACCOUNTATrrrs AND STATUTORY AUDrroRS 547 Falls Road Belfast BTI 19AB Dated: 8th December 2023 Page 12 BOLSTER cOm￿￿NITy STA TEMENT OF FINANCI.4L ACTITrITIES the income and ex FOR THE YEAR El￿)ED 31ST NLIRCH 2023 incor oratin diture account Uttrt5trieted Restricted EndownmeDt TOTAL TOTAL FuDds Funds Fund5 2023 2022 NOTES INCOF4lE AND ENDOWNMENTS FROM: Donation5 and legacies Jncome from inve5t]nents Jncome from charitable activities tneome from other trading activities 7.655 7.655 3,964 56.414 900,458 956,872 33.729 816,806 32,637 TOTAL INCOME AND ENDOWNhlENTS 97.798 900,458 998,256 853,407 EXPENDITURE ON: EXpendi￿re on raising fi]nds Expenditure on ch￿itable activities Other expenditure Net gain￿lI￿eS) on investtn¢nts 50.825 918,848 969.673 813.437 TOTAL RESOURCES EXPENDED 50.825 918,848 969.673 813.437 NET INCOM£IIEXPENDITURE) 46,973 (18J90} 28,583 39,970 Transfers between funds NET MOVEIVIENT IN Fi￿Ds 46.973 {18J901 28,583 39,970 RECONCILIATION OF FUNDS TOTAL FUNDS BROUCHT FORWARD 361.236 66.Oi6 427.272 387,302 TRANSFERS BETWEEN FUNDS 16 TOTAL FUNDS CARRIED FORWARD 408,209 47.646 455,85S 427,272 The Statement of Finantial Attiyities include5 all gains Ind losses the year 2nd therefore Statement of Total Recogni5ed Gains and Losses has ￿tst been prepared All of the above amounts relate to continuing aftivities The accOmp￿Y1￿E accowiting politie5 *od the DOt¢s of r]na￿lI1 $laieTiieAts Page 13 BQLsfER COMMUNTFY BALANCE SHEE SAT31STMA CH 2023 2023 2021 NOTES FIXED ASSETS Tangible assets 71,741 81,257 URIIENT ASSETS Debtors and prepayrnents Cash at bank Cash in hand IOE.644 412.094 1,028 514,766 102,705 325,600 1,056 429,361 10 Creditors: arnounts lallino due yithJi . one year 12 (104.634) (46,672) FIET CURRENf ASSETSI(LIABILITJES) 410,132 382,689 TOTAL ASSETS LESS CURREFrr ASSETSI( LIABILITEES ) 481,873 463,946 Creditors- amounts falling due after more tball one year 13 (26,018) (36,674) NET ASSETSI(LIABILifIES) 455,855 427,272 FUNDS: ENDOWNMENT FUNDS UNRESTRICTED INCOME FUNDS 15116 4118,209 361236 RESTRICTED JPICQME FiITrIDS 15117 47,646 66,036 455,855 427,272 APPROI'ED ON BETrL4L FTIIE BOABJ) 0FIRusfE￿. CONNOR SWEENEY TRUSTEE DATE 8th December 2023 The ittompllnying A¢countinE policie5 and notss fom part of th&5¢ finaDciAI statements Page 14 BOLSTER COMTrtUNITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2023 2023 2022 NOTES CASHFLOWS FROM OPERATING ACTIVITIES Cash generated from operations 14 86,466 11,427 Net cash inflow/(oufflow) from operating activities 86,466 11,427 Investino activities Investment income Purchase of tangible fixed assets Acquisition of investments Disposal of investments Disposal of tangible fixed assets (10,056) Net cash from investlDg activities (10,056) Increasel(decrease) ID cash and casb equivalents in tbe year 86,466 lJ71 Cash and cash equivalents at the beuinninu of the year 326,656 325,285 Casb and casb equivalents at the end of the year 413,122 326,656 Relating to: Cash at bank and ill hand io 413,122 326,656 The accompanying accounting policies and note5 form part of these financial statements Page 15 BOLSTER COMNruThrrY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST TrIARCH 2023 STATEMENT OF ACCOUNTING POLICIES Accounting Convention and Basis of Accounting The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with Accounting and Reportino by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportinu Standard which applies in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORF (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) . Going Concern At the time of approving the financial statements, the trustees, have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees, continue to adopt the going concern basis of accounting in preparing the f￿anCIaL statements. Income Recognition Income is recognised when the Charity has entitletnent to the funds, any perfonnance conditions attached to the item(s) of income have been meL it is probable that the income will be received and the amount can be measured reliably. Interest Receivable Interest on funds held is included when receivable and the amount can be measured reliably" this is norn]ally upon notification of the interest paid or payable by the Bank. Resources Expended All expenditure is accounted for on an accruals basis and is classified under headings that aggregate all costs related to the category. Fundraising costs include the costs of advertisino, producing publications, printing and mailing fundraising material, and staff costs in these areas. Costs of charitable activities include direct expenditure incurred through operational activities. Governance costs represent the costs associated with the governance atTangements of the charity which relate to the general running of the charity as opposed to those costs associated with fundraising or charitable activity. Fixed Assets All tangible fixed assets are recorded at cost. Page 16 BOLSTER COMMUNrrY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 STATEMENT OF ACCOUNTING POLICIES Conlinued Depreciation Depreciation is calculated to write off the cost of fixed assets over their estimated useful lives at the following rates: Refurbishment Costs Office equipment I 00/0 residual value 25 % residual value Repairs and Renewals All repairs and renewals are written off as incurred Pension Costs The charity does curtently operate a defined conribution pension scheme. This is operated via the Workers Pension Trust Pension Scheme. Debtors and Prepayments Trade debtors and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Creditors and Provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Financial Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic fmancial instruments. Basic flnancial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Foreign Currencies Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken tnto account in arriving at the net movement in ￿nds. Page 17 BOLSTER COMMUNITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 STATEMENT OF ACCOUNTING POLICIES Continued Fund Accounting Unrestricted funds are general funds that are available for use at the Tn￿tees, discretion in ￿rtherance of the charitable objectives of the charity unless the funds have been designated for other purposes. Designated ￿ndS are unrestricted funds set aside by the trLLStees out of unrestricted funds for specific ture purposes. Restricted funds are those given for use in a particular area or for specific putposes, the use of which is restricted to that area or purpose. EndoNvnment fijnds are subject to specific conditions by donors that the capital must be maintained by the charity. The incotne received from funders depends on the charity meeting detailed criteria on expenses plans. Grants given under such conditions are also given subject to them being obtained for in connection with the furtherance of the charity's aims and objectives. Such incotne can be repayable to the funder if such expenses plans and criteria are not met. Such income is only deferTed when the donor specifies that the granudonation must only be used in future accounting periods. or the donor has imposed conditions which must be met before the charity has unconditional entitlemenL Income from charitable activities includes income received under contract or where entitlement to grant ￿ndIng is subject to specific perforniance conditiolls is Tecognised as earned as the related goods/service5 are provided. Grant income included in this category provides funding to support performance activities and is recognised where there is entitlemenL certainty of receipt and the amount can be measured with sufficient reliability. Income is deferred when.. fees/perfortnance related grants are received in advance of the performancelevent to which they relate. Reserves Policy It is the policy of the charity that unrestricted reserves which have not been designated for a particular PUTpose should be maintained at a level to ensure that in the event of a significant reduction in funding, it will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. The directors consider that this level should be sufficient to cover six months expenditure, and potential winding-up costs. The Directors regularly review the level of reserves held and consider opportunities to apply them in line wi and in the furtherance of, its charitable objectives. Page 18 ER OMMiryTTY NOTESTO THE FINANCIAL STATEMEI FOR TBE YEAR ENDED31sfMARCH 2023 I. DONA TIONS AND LEGACIES Unre5tri¢ted Restritted Fullds Funds Unrestricted Restricted Funds Funds 2023 2022 DonatlQD5 L£gacies 7.655 7.655 3.964 7.655 7,655 3.964 3.964 2. IThCOME FROM INVESTMENTS Unrrstricw Restricted Funds Funds Unrestrictrd Restricted Funds Furtds 2023 2022 Incomc frorn UK listed investhjcnts Ittcome frotn cash 3. INCOME FROM CHAR￿ABLE AcT￿rr[￿s Unrestricted Rc5tricted Fund5 Funds Unrestricted Restritted Funds Fund5 2023 2022 Big Lottery Fund- generated inctsm¢ Community FoTmdation NI MACE SHSCT- SuTesrart- ￿nerated u]cotne SHSCT- Hub Hosting- generated incor SHSCT- PHWB- geneTated incorne SHSCT- FAST& B￿￿- generaied income SHSCT- Eaily lllteTv¢ntion & Prevention- getLerated iDcome SHSCT- EaTly InieTveniion & PTevention Supp)rt Service SHSCT- Early Intetverttion & p￿ventiOn Family SuptA)rt Hub SHSCT- Gold Fund SHSCT- Artnagh & dungannon Family 4H2H. generated income I4[&￿- generated income SECAD- generated income EISS NIACRO- geneiated income Other- geneTated incouse Manage]nent fee income Gullion Home 2 Hospital Mournt Home ? Hospital Homesiart Dormant Account5 Rent receivable Older peoples programme P¢r50nal development programme Conneciions intotne Youth Leadership programme Eleval¢- CDFtN SPACE-He41th & Wellkujg 74.623 37.500 202.901 172.098 74.623 37.500 202.901 172.098 100.000 100.000 155,848 98.458 15,639 5.774 33.000 155.848 98,458 15,639 5,774 33.000 16255 s.tKJI 14.645 28.431 71J88 16255 5,001 14.645 28.431 71.388 15,809 20,000 17.859 59,41)0 15.809 20.000 17,859 59,400 9.1?1 9.121 92.260 92260 40.309 40.309 56.414 41.201 41,201 174.682 56,414 174.682 7.857 16JO? 2 J65 46.0(KJ 7.857 16J02 2,365 3.781 3,781 13,560 2.515 13,560 2.515 60.401 60.401 55.380 3.000 900 55.380 3.000 900 3.oc 56.414 900.458 956,872 178.463 638.343 816.806 4. INCOME FROM OTHER TIi4DING ACTivrriES Unre5tri¢t¥] Resiritttsl Funds Fun Unrestricted Restricted Funds Fund5 2023 2022 Fundraising Shop iN¢ome 6,840 26,889 6.840 26,889 32.637 32.637 33.729 33.729 32,637 32,637 PJg¢ 19 tSTER COMMUNTrY N(YfES TO THE FLNANCIAL >fATEMEYrs FOR TUE YEAR ENDED 31ST MAR H 2023 5. EXPENDITifRE ON R4JSUYG FUNDS Unrt5trictcd R￿ttle1¢d U#restritied Restricted Fuods Fund5 202J 2022 Promotional alld fundraising costs 6. EXPENDfTuRE ON CHARITABLE ACTfvtriLS Unrestricted Restricted Fund5 FD4ds Unrestricted Restritttd Fund5 Funds 2023 2022 Wage5 2nd S￿a￿e$ (See Note 81 Social security costs (See Ni*c 8) Shop Stock purch&8es Training and development Monitoring. ewdluation and le4rnirtg TTavel costs a[￿ expenses voluntee￿ and f2cilitstOT5 Transport Programme c051s- Surestart PrograTnme costs Sundry exper￿5 581.8J5 59.883 581,835 59,883 4.848 42? J72 45 J48 4?7,??0 45,348 16,513 2.OChS 16.513 ,073 733 1.896 933 430 23.662 55.778 24.092 58.586 15.560 844 l2.782 28,342 3.975 ?45 19,064 118.214 3.801 245 19.064 95240 1.768 10.483 5.298 1484 20206 97.600 30,689 102,898 2,484 21974 2.033 JO.)88 839.697 870,285 63,845 600,883 664,728 Support Costs And Governanc¢ costs Telephone and iniemet Rent attd seTViCe charges Accomodation costs Insurance General rUr￿Ing cost5 IT Sup[￿rt and maintenance costs Printing. postage and stationery Management and hosting fees Digi121 Tll2rketing and outsourcing Marketing and communications Repairs and maintenance Cleaning and hospitality Recruitment costs Hire of equipment Depreciation and impairn)ent Memberthip fee5 Legal and professional fees Out50urcing finance Audit fees Bank interest and chaTges 1.951 6.622 20.899 8.573 20.899 5.918 8.877 5.144 7.714 11.062 16,591 8.101 8.101 9.594 874 3 J82 11.455 993 9.594 874 13,466 24,635 2.136 6,082 8,31? 5,319 4,362 .292 856 11.088 828 304 26.670 4,200 1.038 6.543 2,824 6.543 4.987 10.084 13.180 L.143 6,08? 4.37? 2,846 i.(M)O 691 71 11.088 2.163 8.198 8.598 lJ77 1.961 3.940 2.473 3.362 601 785 1.187 276 649 920 9.516 2.1 1.685 2255 9?0 9.516 3.571 lJ81 759 163 17.493 17.493 26.670 985 985 1,038 20237 79,ISI 99.388 69.784 78.925 148.709 TOTAL EXPENDTllJRE ON c￿￿RITABLE ACtIYtrtES 50.825 91&848 969,673 133,629 679,808 813,437 Page 20 BOLSTER COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 7. NET (OUTGOING)I INCOMING RESOURCES FOR THE YEAR This is stated after chargingl(crediting) 2023 2022 Auditors remuneration Depreciation Grants amortisation 2,960 9,516 4,200 11,088 8. SALARY COSTS AND EMOLUMENTS 2023 2022 Total staff costs were as follows: Wages and salaries - key management personnel Wages and salaries - other staff Ernployer social security costs - key management personnel Employer social security costs - other staff Employer social security costs - Statutory Maternity Pay Recoverable Employer soci21 security costs - Employment Allowance 58,681 523,154 11,084 52.799 59,302 367,918 9,587 39,761 (4,000) (4,000) 641,718 472,568 The average monthly number of employees during the year was as follows: 2023 Number 31 2022 Number 30 No employees had emoluments in excess of £60,000 (2022: £Nil) Trustees, remuneration and beDefits There was no trustees, remuneration or other benefits for the year ended 31 st March 2023. (2022: £Nil) Trustees, Expenses There were no trustees, expenses paid for the year ended 31 st March 2023. (2022: £Nil) Page 21 BOLSTER COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 9. TANGIBLE FIXED ASSETS Refl￿bIshment Costs Office EquRpment Total COST As at 1st April 2022 81,690 62,793 144,483 Additions Disposals As at 3 1st March 2023 81,690 62,793 144,483 DEPRECIATION As at 1st April 2022 9,701 53,525 63,226 Charge for year Eliminated on disposal 7,199 2,317 9,516 As at 3 1st March 2023 16,900 55,842 72,742 Net book value 2023 64,790 6,951 71,741 Net book value 2022 71,989 9,268 81,257 10. CASH AT BANK 2023 2022 AIB - Number l Account AIB - Number 2 Account Danske Bank Pa￿al Account Petty cash 214,731 90,049 106,846 468 1,028 134,842 95,405 93,744 1,609 1,056 413,122 326,656 Page 22 BOLsfER COMMUNITY NOTES TO THE FIN'ANCIAL STA TEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 11. DEBTORS: AMOUNTS FALLING DtrE WITHIN ONE YEAR 2023 2022 Trnde debtors Grants receivable Other debtors and prepayments 86,387 91,439 15,257 11.266 101,644 102.705 12. CREDITORS: AMOUNTS FALLif4G DUE WITHIN ONE YEAR 2023 2022 Trade creditors Social security costs and other taxes Workers Pensions trust Bank loans Credit card Accrued expenses Deferred income 3.317 696 14,253 17.529 10,656 957 3,587 61.681 10,661 4,229 104,6J4 46,672 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE TIL4N ONE YEAR 2023 2022 Bank loans Defetred income 26,018 26.018 36,674 14. RECONCILIATION OF OPEIL4TING PROFIT TO NET CASH FLOW FROM OPEILITING AcrivtTIES FRO￿1 OPERATING AcfIviTIES 2023 2022 Operating Surplusl(Deficit) for the year Depreciatson Movement in debtors Movement in Creditors Gain on investments IProfityLoss on disposal of Fixed Assets Investment income 28,583 9,516 1,061 47￿06 39,970 11,088 140,125) 494 Net C35h inflowlloutllow) from operating *ctivities 86,466 11,427 Pa8e 23 BO ER COMMiINrrY NOTES TO THE FTrAN TEMENTS R THEY R ENDED JISt MAR H 1023 15. MOVKMKTrrf IN FUNDS Nei Movemeut itt Fr￿d$ Tr•nsfers bthweell Funds Ba]#n¢e kn¢omt E4￿dit￿re 2013 2013 21J22 Uw25tricted ISeeknulyBsBdowJ i61.2i6 97,798 150.8151 46,9fJ 40¥.209 361,236 Restricted (SttAAdlysrsBd4pwJ 66.Oi6 ￿.458 1918.1481 I18.3￿) 47.646 66,Q36 427J72 998256 (969fv73) 28J83 455.855 427271 Net Movement FuDdx Transfers Restrictsd FuDd¥'. B*l*A¢e Expthditsre zw 1023 2022 Big Lottery Fund- g¢ncrated irKrJtrJC National Lottery Awtr Allti5m Connect ￿COrne sHscr- $￿start-S¢neraied incorne SH5￿. Hub Hosting.Bet￿tEd UKX)ry SHscf- PHWB- incotnc SHSCT. BME. ser*rattd SHSCT. Gold Fund- sencgatedir￿0tsjc SHSCT. Arn)agh fatnily.gcnNJte41 iTKome SHSCT. AThia8h & DUnB3rll￿ farnity JCOVID Gr& Arniagh & Banbndse CC Cotnrnunity Foundatiom for NortheTD Irthd Charities Aid MACE Youth Leadet5hip Progr NI Housing Exxutive I Hou*ng EXÈCutive-knmBl￿ fiu MH2H- genemed ￿￿orne Older Peoples PrtsP[￿ persoD￿ D¢¥elopment Progr￿￿)e SHscf- Earty IntErVenti{Tr￿ & Prevention SHscf. E3tly InierY¢nLon & Preventitsn SUP￿ 5erYit SHSCT- Ethy tnttTvthtion & Prevenii0nFa￿IIY s￿4￿rt H Gull￿n HOME 2 H05pitsI Mown¢ Hornc 2 Hosptt Homest8rt DoTmani A￿O￿nts Elev2te CDHN EISS NIACRO- generated theomÈ 24,016 74.623 I￿.6)9) (24.0161 24.016 60.401 172.098 160.4011 IIR0981 16,255 Il6.2551 9.121 (29.1211 120.th)1 20.wo 37.5 137,5001 202.9DI 1202.9)11 10) ZI019 92260 1114279) 1210191 22.019 14.645 21431 71,)88 7.857 16.)02 2,i65 46.000 i,000 14.645 14.645 171,3881 17.8511 116.i02) 12J651 10} 33. 33.rthj I3.0￿) {40u09) Total RtStrictsd Fwids 6&036 90￿45¥ 1918W8) (liJ90 47,646 66.036 Unrestricted Fund$= Generated income Rental inconJ¢ Shop incon)r Designated SustAinability D¢5iyaiEd Wlute8a*s CapiraJi%ed F￿d 188,B88 70.W9 liio87) i7.522 226.410 4.844 47,559 S0.NO 79096 188,888 4.844 28.592 50.OOU 88.912 28.592 26.889 50.000 88.912 (7.922} 18.967 19J161 Total Otber Rdtrictrd Fwiding 361236 97.798 {50325) 46.973 408209 361.236 Tothl iiestrirtred Funding 427Jn 99W6 1969&7J) W83 455.855 427272 BOLSTER COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 16. UNRESTRICTED INCOME FUNDS 2023 2022 Balance at 1st April 2022 361,236 259,927 Incoming resources for the year Resources expended for the year Transfer between funds 97,798 215,064 (50,825) (133,629) 19,874 Balance at 31st March 2023 408,209 361,236 17. RESTRICTED INCOME FUNDS 2023 2022 Balance at I st April 2022 66,036 127,375 Incoming resources for the year Resources eKpended for the year Transfer between fvnds 900,458 638,343 (918,848) (679,808) 19,874) Balance at 3 1st March 2023 47,646 66,036 18. LEGAL STATUS Bolster Community is a Company Limited by Guarantee. Each member has agreed to contribute £ l in the event of a compulsory winding up. Bolster Community is registered with The Charity Commission for Northern Ireland, Charity Number 107382. Date of registration 12th February 2020. Bolster Community is a recognised Charity within the definition of Section 360(3) Income and Corporation Taxes Act 1970 by the Conllnissioners of the Inland Revenue. Page 25