Indian Community Centre (Belfast) Ltd Statement of Flanaeial Activitles for the Year Ended 31 March 2024 (Ineludkng Income and Expenditure Account) UnstrIcd Fund Restrictéd Fund M4f•24 To&il Mar•23 Tolal Note Inco Voluntary in¢ome Donations and Gift Aid Fund Raising Activities Inveslment Income 38.211 11,401 38,211 11,401 27,345 20,783 Total income 49,612 49,612 48.128 en Administration expenses Estsblishment expenses Governance Costs 52.741 16,987 1,599 52.741 16,987 1,599 40,106 31,454 1,837 Total expenditure 71,327 71,327 73,397 Net movement in funds 21,715 21,715 25,269 eco Illntinn nf filn Totvdl Funds brought forwlrd 325,965 325,965 351,234 Total Funds c#rrled forward 304.250 304.250 325.965 The notes on pages 8 to 8 form an integral part of these financial ststements Page 6
Indlgn Communlty Centre (Belfast) Ltd Statement of Assets and Liabilties for the Year Ended 31 March 2024 2024 2023 Note Fired Assets Tangible a&8ets 229,719 243.282 Cmrrenl assets.. Debtors Cash at bank and in hand 1.400 74.831 1,400 82,983 76.231 84,383 Creditors: amounts falling due within one year 1,700 1,700 Net current assets 74,531 82,683 Net Assets 304.250 325.965 ari Revaluation reserve Unrestricted ndS Restri¢ted ndS 15.880 288,370 15,880 310,085 304.250 325 965 The trustees statements requires by Section 475(2) and (3) are shown on the following page which forms part of this Balance Sheet. The notes on pages 6 to 8 form an integral part of these financial statements Page 7
Indian Community Centre (Belfast) Ltd Company Limited by guarantee Balance Sheet for the Year Ended 31 March 2024 . continued For the year ending 31 March 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: . The mcmbers bave not required the company to obtsin an audit of its financial ststements for the year in question in accordance with section 476. . The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements ELave been prepared in accordallce with the provisions applicable to companies subject to the small companies, regime under the Companies Act 2006. The dLWUlltb' weie approvcd by thc Trurtee reasurer 5knJ-JIL} Trustee SAfirtVllL Q hA-L AsHIsH STALJY Page 8
Indian Community Centre (Belfydst) Ltd Company Limited by guarantee Notes to the Financial Statements for the Year Ended 31 March 2024 l Accountlng Policies 1.1 Basis of preparation These financial statements have been prepared under the historical cost basis and the Trustees have given due regard to the recommendations contained within the Statement of Recommended Practice "Accounting and Reporting by Charities" issued in 2008 and applicable accounting standards. 1.2 Fund accounting Incoming resources that may be applied for the Charity's general puo)oses are treated as 'unrcstricted' incoming resources and are credited to the 'unrestrictcd fi]nds'. Funding for purposes designated for a specific purpose by the TSteeS is credited to 'dcsignated funds,. Where a donation or grant is r¢quired to be used for a specified purpose, the amount concerned is treated as a 'restricted' incoming resource and is crlted to the approprtate 'restricted fund,. 1.3 Incoming resources All incoiiiing rcsourccs arc includcd in thc statcmcnt of fillancial activitlC8 whcn tbc charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applicd to particular categories of income.. Donated services and facilities are included at the value to the charity wbeTe this can be quantified. Investment income is included when receivable. Incoming resources from grants. where related to perforn]allce and specific deliverables, aTe accounted for as the charity earns the right to consideration by its perfornwice. 1.4 Bank finterest Bank interest is recognised as an incoming resource when it is credited to the bank statement. All bank interest is treated as unrestricted income to the General Fund. 1.5 Resources Expended Expenditure is recognised on an accruaI basis as a Itability is incurred. Expenditure includes any VAT that cannot be fully recovered, and is reported as part of the expenditure to which it relates. Page 9
Indian Communlty Centre (Belfast) Ltd Notes to the Finaneial Statements for tbe Year Ended 31 Mareh 2024 (Jnat'ons ad rants 2024 2023 Belfast City Council Thali Collections Annual subs & donations Goldman Sachs Asia 50 20,000 9,000 4,725 13,620 12,211 4,000 2,000 27.345 Fuiid RalsiD Activit'es 2024 2023 Hall hiring 11,401 20,783 nve5tinent Inco 2023 2023 Interest received Admini tratio ex es 2024 2023 Wages and salaries Events, toys and games Telephone Cotnputer expenses Legal and professional HR settlement General expenses Asia refund Depreciation 4,901 565 362 156 6,569 22,625 8,786 820 352 176 16,228 159 4,000 13,563 13,585 40,106 Esta lllsliment ex ense 2024 2023 Rent and rates Insurance Light & heat Repairs & maintenance 1,073 3,709 5,347 6,858 941 3,340 8,066 19,107 31.454 Governance Cost 2024 2023 Bank charges Accountancy fees 99 1,500 87 1,750 1.837 Page 10