BOLSTER COMMUNITY Statement of Financial Activities (Including Summary Income and Expenditure Account) for the year ended 31 March 2024 Unrestritted Restricted Funds Funds Total Totgl 2024 2024 2024 2023 ncome from: Donations and legacies Income from charitable activities Income from other trading activitie5 6 Notes 9,027 128,691 52,865 9,027 832,072 960,763 52,865 7,655 956,872 33.729 Total Incomlng resources 190,583 832,072 1,022,655 998,256 Expenditure on: Charitable aciivi(ies (200.468) (864,092) (1,064.560) (969,673) Total expendlture (200,468) (864,092) (1,064.560) (969,673) Net income before transfers (9,885) (32,020) (41,905) 28.583 Net incoming resources (9.885) (32,020) (41,905) 28,583 Fund balances broughi forward Fund balances carried forward 408,209 47,645 455,854 427,271 398,324 15,625 413.949 455,854 All of the above resulis are derived from continuing gains and losses recognised in the year are included above. The notes on pages 16 to 27 form an integral part of these financi21 statements. Page 13
BOLSTER COMMUNITY Balance sheet as at 31 March 2024 2024 2023 Notes Fixed assets Tangible assets 63.375 71,741 Current assets Debtors Cash at bank and in hand io 195.314 214.790 101,644 413.122 410.104 514,766 Creditors: amounts falllng due within one year 11 (44.173) (104,635) Net current assets 365,931 410,131 Tolal Assets le&s current 429,306 481,872 Creditors: amounts falling due after more than one year 12 (15,357) (26,018) Net assets 413,949 455,854 Funds Unrestricted funds Resiricied funds 398,324 15,625 408,209 47,645 Total funds 413.949 455,854 The financial statements were approved by the Directors on I l December 2024 and signed and approved for issue on its behalf by Eamonn Connolly Director The notes on pages 16 to 27 form an Integral part of these financial statements. Page 14
BOLSTER COMMUNITY Cash flow statement for the year ended 31 March 2024 2024 2023 Cgsh generaled from operations Net income l (expendirute) for the year Deprecialion Movement in debtors Movement in creditors (41,905) 8,366 (93,670) (71,123) 28.583 9.516 1.061 47.306 Net cash movement from operatlng aetlvlties (198.332) 86,466 Cash floiv statement Cash llow from investing aetlvltles Movement in cash in the year (198,332) 86,466 R¢¢oncilialion of nct eash tloiv to movcment in net funds Movement in tash in the year Cash and cash equivalents at l April 2023 {198,332) 413,122 86,466 326,656 Cash and cash equivalents 2131 Mareh 2024 214,790 413,122 Paoe IS
BOLSTER COMMUNITY Notes to the financial statements for the year ended 31 March 2024 Actounting policies Company informatlon BOLSTER COMMUNITY is a Company limited by guarantee, registered in Northern treland. The address of the registered office is Whitegates Business Park, Unli l Killeavy Road, Newry. Northern Ireland, BT35 6UA. 1.1. Accounting convention The accounis have been prepared in accordance with the charily's Memorandum and Articles of Association, the Companies Act 2006 and"Accounting and Reporting by Charities: Statement of Reconunended Practice applicable (o ChltieS preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ircland published in October 2019 The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepaTed in sierling, which is the funcuonal currency of the company. Monetary amounls in these finamcia] statements are rounded to the nearesl £. The financial sialements have been prepared under Ihe hlstorical cost convention. The principal accounting policies adopted are set out below. 1.2. Golng concern At the lime of approving the financial siatemenis, the trnsiees have a reasonable expeclalion that the charity has adequate resources io continue in opera(ional existence for the foreseeable furure. Thus the tru51ees continue lo adopt the going concern basis of accounting in preparing the financial statements. 1.3. Charitable funds Unrestricied funds are available for use at the discretion of the trustees in furtherance of their charitable objects'ves. Restricted funds are subject to specific Conditions by donors or grantors as io how they may be used. The purposes and uses of the resiricted funds are set oul in (he notes to the financial slaremenls. 1.4. IncomSng resources Income is iecognised when the chatity is legally entitled to il after any performance conditions have been met, the amounls can bc measured reliably, and it is probable thal income will be received. Cash donaiions are recognised on receipt. Other donations ar¢ r¢cognksed once the charity has b¢en notified of Ihe donation. unless perfomiance conditlons require deferral of the amount. Income lax recoverable in relalion to donations received under Gifi Aid or deeds of covcnanl is iecognised at the time of ihe donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is knoivn, and receipi is expected. the amount is not known, Ihe legacy is ireated as a contingent asset. Investment income is recognised once the income and been declared and notified io batth accounls.
BOLSTER COMMUNITY Notes to the financial statements for the year ended 31 March 2024 . continued 1.5. Resources expended All expenditure is accoun*d for on an accrnals basis. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties. it is probable that the settlement will be required, and the amouni of (he obligatton can be measured reliably. 1.6. Tangible fixed &ssels and depreciation Tangible fLxed assets are initially measured at cost and subsequenily measured al cost or valuation. nel of depreciaiion and any impaimjeni losses. Depreciation is provided at rates calculated write off the cost less residual value of each assel over its expected useful life, as follows., Land and buildings Flxtures, fittings and equipment IOYO residua] value 25% residual value 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 assel, and is recognised in the statemeni of financial acts. viiies. 1.7. Impairmenl of fixed assets At each reporting end da, the charity reviews ihe catrying amounts of ils thngible assels lo deiermine whether there is any indicaiion thai those asseis have suffered an imp&irnieni loss. If any such indicaiion exisls, the recoverable amoun¢ of the assei is esiimared in order to determtne the extent of the impaimienl loss (if any). 1.8. Cash at bank 2nd in hand Cash and cash equivalents include cash in hand, deposits held at call wich banks, other short-iemi liquid invesimenls with original maturiiies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
BOLSTER COMMUNITY Notes to the flnancial statements for the year ended 31 March 2024 . continued 1.9. Finantial Instrnments The charity has elexted to apply ihe provisions of Section I I 'Basic Flnancial Instruments, and Section 12 '0ther Financial tnstruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity b¢comes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the fmancial stsrements, when there is a legally enforceable righi to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basie financlal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaciion 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 ai the present value of the future receipis discoun(ed at a market rate of interesl. Financial assets classified as receivable within one year are no( amorlised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless Ihe arrangement consuiutes a financing Iransaction, where the debt instnjmeni is measured at the present value of the future payments discounted at a market rate of inieresl. Financial liabilities classified as payable within one year ase not amortised. Debt inscrumenis are subsequently ¢Tled at amortised cosi, using (he effeciive interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operaiions from suppliers. Amounts payable are classifled as cuent liabilities if payment is due within one year or less. If not, Ihey are presented as non-curreni liabililies. Trade creditors are recognised initially and subsequently at Iransaclion price. 1.10. Taxation The charity is an exempt charity within the meaning of Schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and ther¢fore it meels the definition of a charitable cotnpany for UK corporation tax purposes. 1.11. Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committd to terminate the employment of an employee or to provide tetmination benefits. PApp. l)1
BOLSTER COMMUNITY Notes to the finaneial stalements for the year ended 31 March 2024 conlinued 1.12. Retirement benefits Payments to defjned contribution retiremen( benefit schemes art charged as an expense as ihey fall due. Net Rncoming resources for the year 2024 2023 Net incoming resources is stated after charging: Depreciation and other amounts written off tangible assets Auditors, remuneration 8.366 3,588 9.516 2.960 Employees Number of employees The average monihly numbers of employees during the year were: 2024 2023 Management and administration 29 31 Ernployment costs 2024 2023 Wages and salaries Etnployers national insurance Penslon costs 607,921 43,031 34,010 565,052 38,233 38,433 684,962 641,718 The number of employees who received iotal employee benefits (excluding employer pension costs) of more than £60,000 is as follows: 2024 2023 £60,001- £70,0(K) The charity trustees were not paid or received any other benefits from employment with the charity. neither were they reimbursed expenses during the year (2023.. £Nil). The remuneration paid or payable io key management staff for employee services was £64,394.(2023: £58,681) PAop. 19
BOLSTER COMMUNITY Notes to the financial slalements for Ihe year ended 31 March 2024 . coniinued Unrestritted Restricted Total 2024 2024 2024 Total 2023 4. Income from donations and legaties Dona(ions ' 9,027 9,027 7,655 9.027 9,027 7,655 In 2023 of the total donalion income of £7,655 was attributable io unrestricted income funds. PAPP. 21)
BOLSTER COMMUNITY Notes to the finaneial statements for the year ended 31 March 2024 . continued Unrestricted Restrieled Total 2024 2024 2024 Total 2023 5. Income from charitable activities Big Loicery Fund- generated income Community Foundation for Nl MACE SHSCT- Surestart- g¢neraied income SHSCT- PHWB- generaied income SHSCT- BME- generated income SHSCT- Early Intervention & Prevention- generated income SHSCT- Early Inlervenuon & Prevention Support Services SHscf- Early Intervention & Prevenrion Family Support SHSCT- Arniagh & Dungannon family NtHE- homeless fund EISS NtACRO- generated income Gullion Home 2 Hospiial Mourne Home 2 Hospital Homcsiart Dormani Accounts Connections income Elevate CDHN Other generated income Building Futures Programme DFC Hardship fund 74,623 37,5CM) 202,902 172,098 16,255 5,001 14,645 28,431 71,388 9.121 92,260 40,309 7,857 16,302 2,365 46,000 60,401 46,000 112,153 l77,884 16,830 6,214 46.000 112.153 177,884 16.830 6.214 33,000 90,268 33.000 90,268 22.450 40,309 5,753 18,903 2,340 29,500 49,574 22,450 40,309 5,753 18,903 2,340 29,500 49,574 128,691 l28,691 l14,894 66,000 56,414 114,894 66,000 128,691 832,072 960,763 956,872 In 2023 of the total charitable income of £56,414 was attributable to unrestricted income funds with the balance £900,458 adding to the restricled funds.
BOLSTER COMMUNITY Notes lo the finaneial statements for the year ended 31 March 2024 continued Unrestricted Restricted Total 2024 2024 2024 Total 2023 6. Ineome from other trading activities Fundraising Shop income 2,136 50.729 2,136 50,729 6,840 26,889 52,865 52,865 33,729 In 2023 of the total income from oiher trading activities of £33,729 was altribulable to unrestricted income funds. PAITP. 22
BOLSTER COMMUNITY Notes to the financial statements for the year ended 31 March 2024 . continued 2024 2023 7, Expendlture: Charitable activities Wages and salaries Ernployer's NI contributions Staff money purchase pension costs Shop stock purchases Training and development Travelling expenses Volunteers cosis Progranune costs- Surestart Programme costs Sundry expenses 607,921 43,031 34,010 27.479 3,539 28.826 37,419 19,592 138,868 251 565,052 38,233 38,433 7,922 1,896 24,092 58,586 30,689 102,898 2,484 940.936 870,285 Support and administrative expenses Renl Insurance Cleaning and repairs Recruitment cosis Priniing, postage and stationery Digital marketing and communications Telephone ad incemet Compuler costs Hire of equipment Oulsourcing finance Audit Bank charges Membership fees Depreciation 27,677 10,197 2.515 630 5.737 24.952 10.476 10,287 89 15,972 3,588 1,048 2,090 8,366 20.899 8,101 3,338 2,904 4,987 8,598 8,573 6,543 920 17,493 2,960 985 3,571 9.516 123,624 99,388 Total expenditure 1,064.560 969,673 Analysis by fund Unrestricted funds Restricied funds 200,468 864.092 1.064.560 For the year ended 31 March 2023 Unrestricted funds Restricted funds 50,825 918,848 969,673 psb&. 21
BOLSTER COMMUNITY Notes to the financial slalements for the year ended 31 March 2024 . continued Taxation No liability 10 UK corporation tax arises on ordinary activilies for the year. The Company is a registeied charity . Fixtures, Refurblshment fittings and costs equipment Tangible fixed assets Total Cost Ai l April 2023 81,690 62,793 144,483 Al 31 March 2024 81.690 62.793 144,483 Depreclatlon Al l April 2023 Charge for the year 16,900 6,479 55.842 1,887 72,742 8,366 At 31 March 2024 23,379 57,729 81,108 Net book values At 31 March 2024 58,311 5,064 63,375 Ai 31 March 2023 64,790 6.951 71,741 Jo. Debtors 2024 2023 Trade debtors Other debtors and prepayment5 172.650 22,664 86,387 15,257 195,314 101,644 Pe. 24
BOLSTER COMMUNITY Notes to the financial statements for the year ended 31 March 2024 . continued Creditor5: amounts falling due within one year 2024 2023 Bank loan Credit card Trade creditors Other [eS and social security costs Defeed incomc Accruals 10.656 1,006 3,586 24.807 518 10,656 957 3.317 24,436 61,682 3,587 44.173 104.635 12. Creditors: amounts falling due after more than one year 2024 2023 Bank loan 15.357 26,018 PAOP. 2
BOLSTER COMMUNITY Notes to the finantial statements for the year ended 31 March 2024 continued Balance April 23 Incoming Outgoing Balance Resources Resources Transfer March 24 13 Restricted Funds: Community Foundation for Nl SHSCT- Surestart- generaied income SHSCT- PHWB- generated income SHSCT- BME- generated income SHSCT- Early In(ervention & Prevention- Gl SHSCT- Early Inrervention & Prevention - SS SHSCT- Early Intervention & Prevention - FS NtHE- homeles5 fund EISS NIACRO- generated income Gullion Home 2 Hospital Mourne Home 2 Hospital Homestart Dormani Accounts Conneclions incom¢ Building Furures Programme DFC Hardship fund MACE 46,000 (30,375) 177.884 (177,884) 16,830 (16,830) 6,214 (6,214) (14,645) 33.000 (33,000) 90,268 (90,268) 22,450 (22,450) 40,309 (40,309) 5,753 (5.753) 18,903 (18,903) 2.340 (2.340) 29,500 (62,500) 49,574 (49.574) 114,894 (114,894) 66,OC() (66.000) 112,153 (112,153) 15,625 14.645 33,000 47,645 832,072 864,092 15,625 Unrestricted Funds: Generated income Designated Susiainability fund Designated Whiiegates capitalised fund SDS Shop income 277,663 50.000 80,546 67,5J6 (164,623) 95,588 276,144 50,000 72,180 (8.366) 72,338 50.729 (72.338) (27.479) (23,250) 408.209 190.583 (200.468) 398.324 Pxpp. 2
BOLSTER COMMUNITY Notos to the financi21 statements for the year ended 31 March 2024 . continued Unrestricled Restricted reserve reserve 14. Analys15 of net assets between funds fund fund Total Fund B21anees At JI March 2024 represented by: Tangible Fix¢d asseis Nct current assets 63.375 334.949 63,375 350,574 15,625 398.324 15,625 413,949 15. Related party transactions There were no material related party transactions to disclose during the year. 16. Ultimate Controlling party The ultimate controlling party of th¢ Charity is Ihe Truste¢s. 17. Company limited by guarantee The charity is a company Ilmited by guarantee governed by a Memorandum 2nd Article$ of Association. The liability of each member is limited to an amount not exceeding £1. PAryp. 27