Mayfield Village Community Association Report and financial statements Year ended 31 January 2023 Mayfield Village Community Association Contents Page Trustees and advisers Trustees, report Independent Examinerfs report statement of financial activities Balance sheet Notes on and fomiing part of the financial statements 7-11 Mayfield Village Community Association Trustees, Report The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities". Statement of Recommended Practice applicable to charities preparing their accounts in acGordance with the Financial Reporting Standard appliGable in the UK and Republic of Ireland (FRS 102). The Charity is a charitsble company limited by guarantee and was incorporated on 25 January 2008. It is governed by a memorandum and articles of association. Legal and administrative infomiation on page 1 fomis part of this report. Results The results for the financial year are set out in the statement of financial activities on page 5. Principal activity and business review The principal activity of the company is to promote the benefit of the inhabitants of Mayfield Village area and its environs without distinction of age, sex, race. ethnicity, abillty or religious or political opinion, by associating with statutory authorities, comm unity and voluntary groups and the residents. Directors and trustees The directors of the Company are its trust8es for the purposes of charity law and throughout this report are collectively referred to as the trustees. The members of the board during tho year were.. Helen Callaghan Vacant Declan Bums Roisin Mooney Chairperson Treasurer In accordance with the Articles of Association all of the trustees retire by rotation and offer themselves for re-election. Directors, interests No director had at any time during the year a material interest in any contract that was significant in relation to the charitys busine5S. Objectives and activitles The charity is based in Mayfield Village Community Association catering for the needs of the residents with specific emphasis on the identified needs of young people. We offer several programmes including.. Educational classes Summer scheme activities Keep fit classes Seasonal community events Youth walk in clinic Mayfield Village Community Association Trustees, Report (continued) Risk management The trustees have a rtsk management strategy in place which comprises: An annual review of the risks the charity faces. Systems and procedure5 to mitigate risks identified., and Implementation of procedures to ensure minimum impact to the charity should any of the risks materialise. Trustees. responsibilities The trustees (who are also the directors of Mayfield Village Community Association for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting standards {United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, Ihe Irustees are required to select suitable accounting policies and then apply them consistently,- observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent-, prepare the financial stat8mgnts on the going conrArn basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records vhiich disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The trustees confimi that they have complied with the above requirements in preparing the financial statements. Approved by order of the board of trustees on 28 August 2023 and signed on its behalf by elen Callaghan (Chairperson) Independent Examiner's Report to the Trustees on the unaudited financial statements of Mayfield Village Community Association We report on the accounts for the year ended 31 January 2023 set out on pages five to eleven. Respective responsibilities of trustees and examiner As the charity trustee5 (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for independent examination, it is our responsibility to.. 1. Examine the accounts un(Jer section 65 of the Charities Act (Northern Ireland) 2008- 2. Follow the procedures laid down in the general Directions given by the Charities Commission for Northern Ireland under section 65{9)(b) of Ihe Charities Act- and 3. State whether particular matters have come to our attention. Basis of independent examinerfs report We have examined your charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northem Ireland under section 65(91{b) of the Charities Act. The examination included a raview of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includas considèratlon of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters. Our role is to state whether any material matters have come to our attention giving us cause to believe: 1. That accounting records were not kept in accordance with section 63 of the Charities Act. 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006, the Charities AGt and with the methods and principles of the Charities Statement of Recommended PractlGe appllcable to charities prèparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examinetrs statement. We have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and. in connection with following, the Directions of the Charity Commission for Northem Ireland, we have found no matters that require drawing to your attention. Allen Fleming CA Limited Chartered Accountants Date 28lh August 2023 Mayfield Village Community Association Company registration number N1067843 Statement of Financial Activities (including Income and Expenditure Account) Year ended 31 January 2023 2023 Total 2022 Total Note Incomlng resources Incoming resources from generated funds: Voluntsry Income Donations and grants Hall rental Residential events Youth Club 38,186 1.305 48,988 2,993 1,942 1,276 Total incoming resources 41.433 53,527 Resources expended Charitable activities Govemance costs 43,087 733 51,887 583 Total resources exponded 43.820 52,470 Net incomlng resources (2,387) 787 All amounts above relate to continuing unrestricted operations of the company The company has no recognised gains and losses other than those included in the results above, and therefore no separate statement of total recognised gains and losses has been presented. The notes on pages 7 to 11 form part of these financial ststements. Mayfield Village Community Association Company registration number N1067843 Balance sheet 31 January 2023 2023 2022 Note Fixed assets Tangible assets 6,251 7.655 Current assets Cash at bank and in hand 11,541 12,524 12.524 Creditors - amounts falling due within one year (14.254) (14,254) Net current assets {2,713) (1.730) Net assets 3,538 5,925 Funds Unrestricted funds 3,538 5,925 Forthe year ending 31 January 2023 the company was entitled to exemption from audit under sedion 477 of the Companies Act 2006 relating to small companies. Trustee's Responsibilities., The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476 The Trustee's acknowledge their responsibilities for complyng with the requirements of the Act with respect to accounting. records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to, Companies subject to the small compani8s' regime and with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The financial statements were approved by the Board of Trustees on 28 August 2023 and were signed on its b8hatf by: /dg41 Helen Callaghan (Trustee) The notes on pages 7 to 11 fO￿n part of these financial statements. Mayfield Village Community Association Notes Accounting policies {1) Basis of preparatlon The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordan¢e wtth the Charities SORP (FRS 102) 'Accounting and Reporting by Charities-. Statement of ReGommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20151,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. (li) Financial reporting standard 102- reduced disclosure exemptions The charity has tsken advantage of the following disclosure exemptions 'in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Ststement of Cash Flows. the requirements of Section 12 Other Financial Instruments paragraphs 12.26, 12.27. 12.29(a), 12.29(b) and 12.29A', th8 requirement of Section 33 Related Party Disclosure paragraph 33.7. (liil Company status The Charity is a company limited by guarantee. The members of the Charity are the trustees named on page 1. In the event of the Charity being wound up, the liability in respèct of the guarantee Is Ilmited to £1 per member of the Charity. (iv) Incoming resources All incoming resources are included in the statement of financial activities when the company is legally entitled to the income and the amount can be quantified with reasonable accuracy. Voluntary income comprises all incoming resources from sponsorship, subscriptions, donations, subscriptions and grants. Donations are recognised on a receivable basis. Gifts in kind are valued at a reasonable estimate of their value to the charity. Rev8nue grants receivable are credited to the statement of financial activities in the year in which thay are receivable unless they relate to a specific future period, in which case they are deferred. Grants for the purpose of capital expenditure are credited to restricted incoming resources when re￿1vable and transferred to unrestricted funds on purchase of asset. Legacies are credited to revenue on a re￿1vable basis. Legacies ar@ accounted for on receipt of correspondence from the personal representative indicating the payment of the legacy will be made. Investm8nt income is recognised on a receivable basis. Mayfield Village Community Association Notes (continuedj (v) Resources expended Al expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where Costs cannot be diredy attributed to particular headings they have been alloGated to activities on a basis consistent with use of the resources 8.g. floor areas, per capita or estimated usage. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the Charity in the delivery of its aclivities and services for its beneficiaries. It includes both costs that can be allocated directly to such activilies and those costs of an indirect nature necessary to support them. GovefflanGe costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the accountancy fees and costs linked to the strategic management of the Charity. (vi} Depreciation Depreciation is calculated to write off the original cost of tangible fixed assets to their expected residual values over their 8stimat&d useful lives as follows: Equipment 50'A Straight line (vil} Taxation The company is registered for charitable status, and as such is entitled to certain tax exemptions on income and profits from Investments, and surpluses on any trading activities carried on in furtherance of the charitW5 primary objective5, rf these profits and surpluses are appliad solely for charitable purposes. {viiil Grants Recognised as incoming resources once the Charity has entitlement to the resources. it is certain Ihat the re50urGes will be received and the monetsry value of incoming resources can be measured with sufficient reliability. Where uncertainty exists as to whether the Charity can meet conditions within its control the incoming resource is not recognised but deferred as a liability until certainty exists that the conditions imposed can be met. A liability for any repayment is recognised when repayment becomes probable. Mayfield Village Community Association Notes (continued) Donatlons and grants 2023 2022 Newtownabbey Borough Council Co-operation Ireland Donations Community Foundation Tahmi Funding Wellbeing Grant NIO Community Fund - Big Lottery Love Here Live Here Council Grant Keep Northern Ireland Beautiful Education Authority 15,000 12,250 801 3.140 1,706 19.585 21,228 2,800 10,700 38.186 48,988 Resources expended 2023 2022 Charltable activities Training Residential events Materials Wellbeing Youth Club Insurance Hall costs stationery Bank charges Telephone Equipment Professional fees COVID r8sponse DepreGiation 15,186 3,678 30,301 4,279 470 5,754 1,279 2,609 6,512 1,151 6,081 398 925 1,306 1.365 7,050 1,000 3,524 2,106 Govemance costs Accountancy 733 583 43,820 52,470 Mayfield Village Community Association Notes (continued) Net incoming resources for the year Net incoming resources for year is after charging: 2023 2022 Dep￿cIatiOn 2,106 3,524 5. Trustees remuneration The trustees neither received nor waived any emoluments during either year. No trustee or other person related to the Charity had any personal int8rest in any contract or transaction entered into by the Charity during the year. Tangible fixed assets Equipment Total Cost At 1 February 2022 Additions 25,133 702 25,133 702 At 31 January 2023 25.835 25,835 Depreciation At 1 February 2022 Charge for period 17,478 2.106 17.478 2.106 At 31 January 2023 19,584 19,584 Net book value At 31 January 2023 6,251 6.251 At 31 January 2022 7,655 7,655 The basis by which depreciation is calculated is set out in Note 1 (vi} 10 Mayfield Village Community Association Notes (continued) Creditors - amounts falling due within one year 2023 2022 Accruals Deferred grant income 1.411 12,843 1.411 12,843 14,245 14,254 Unreslricted funds 2023 2022 Fund balances brought forward Surplusl(loss) for the year 5,925 (2,387) 5,138 787 Fund balances carried forward 3.538 5,925 The company registered for charitable status has one category of funds: unrestricted funds Ultimate controlling party and related party transactions The charity is controlled by the trustees. 10. Funds All funds are unrestricted.