Registration No. NI636050
4 CORNERS FESTIVAL ACCOUNTS
YEAR ENDED 31st MARCH 2023
4 CORNERS FESTIVAL
YEAR ENDED 31st MARCH 2023
LEGAL AND ADMINISTRATIVE INFORMATION
| Date of Incorporation | 27 January 2016 | |
|---|---|---|
| Members | Reverend David A Campton | |
| Dr Gladys A Ganiel | resigned 23/05/2022 |
|
| Anthony F Hennessey | ||
| Fr Martin J Magill (Co-Chair) | ||
| Edward J Petersen | ||
| Reverend Robert S | Stockman (Co-Chair) | |
| Steven Gregg | ||
| Heather Palmer | ||
| Registered Office | 77 University Street | |
| Belfast | ||
| Co Antrim | ||
| BT7 1HL | ||
| Administrator | Megan Boyd | |
| Company Registration No. | NI 636050 | |
| HMRC Charities Registration No. | NI 00955 | |
| Charities Commission NI Reg No. | NIC 107877 | |
| Bankers | Danske Bank | |
| Donegall Square West | ||
| Belfast | ||
| BT1 6JS |
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4 CORNERS FESTIVAL
YEAR ENDED 31st MARCH 2023
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st MARCH 2023
| Incoming Resources Notes Donations & Misc Inc Grant Income 1 Outgoing Resources Salaries Events Other Expenses Net Incoming Resources Balance brought forward Transfer to designated funds |
Unres’ted Res'ted Desig'ed 2022 Funds Funds Funds £ £ £ £ £ 14,619 - - 14,619 9,149 62,411 - 62,411 59,893 |
|---|---|
| 14,619 62,411 - 77,030 69,042 |
|
| £ £ £ £ £ 1,983 19,995 - 21,978 18,020 6,131 41,701 - 47,832 42,601 453 715 - 1,168 724 |
|
| 8,567 62,411 - 70,978 61,345 |
|
| 6,052 - - 6,052 7,697 22,485 - 19,500 41,985 34,288 - 8000 - 8000 - - |
|
| 20,537 - 27,500 48,037 41,985 |
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4 CORNERS FESTIVAL
YEAR ENDED 31st MARCH 2023
STATEMENT OF FINANCIAL ACTIVITIES (Cont’d)
All amounts above relate to the continuing operations of the company
The company has no recognised gains or losses other than those included in the results above and therefore no separate statement of total recognised gains and losses has been presented.
There is no difference between the net incoming resources and the funds retained for the period stated above and their historic cost equivalents.
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4 CORNERS FESTIVAL
YEAR ENDED 31st MARCH 2023
BALANCE SHEET AS AT 31st MARCH 2023
| Notes Current Assets Cash at bank and on hand Debtors and Prepayments 5 Stock Current Liabilities Creditors and Accruals 6 Net Current Assets Represented by Unrestricted Funds Restricted Funds Designated Funds |
2023 £ 25,720 27,108 - 52,828 4,791 48,037 £ 20,537 - 27,500 48,037 |
2022 £ 20,156 23,070 - |
|---|---|---|
| 43,226 | ||
| 1,241 | ||
| 41,985 | ||
| £ 22,485 - 19,500 |
||
| 41,985 |
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4 CORNERS FESTIVAL
YEAR ENDED 31st MARCH 2023
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4 CORNERS FESTIVAL
YEAR ENDED 31st MARCH 2023
STATEMENT OF CASH FLOWS
| Surplus for the year Add: Depreciation Investment income received Fixed Assets purchased Increase in Debtors Decrease in Creditors Decrease in Stock Increase in Bank Balance Opening Bank Balance Closing Bank Balance |
2023 2022 £ £ 6,052 7,697 - - |
|---|---|
| 6,052 7,697 - - - - |
|
| 6,052 7,697 - 4,038 - 7,888 3,550 - 1,163 - - 200 |
|
| 5,564 - 1,154 |
|
| 5,564 - 1,154 20,156 21,310 |
|
| 25,720 20,156 |
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4 CORNERS FESTIVAL
YEAR ENDED 31st MARCH 2023
NOTES TO THE ACCOUNTS
| 1. Grant Income The Executive Office Central Good Relations Funding Belfast City Council - Good Relations Funding Linen Quarter BID Dept of Foreign Affairs & Trade - Reconciliation Fund St Anne’s Cathedral Sit-out |
2023 2022 £ £ 37,350 36,579 3,850 - - 1,399 20,611 20,915 600 1,000 |
|---|---|
| 62,411 59,893 |
2. General Information
The company is a private company, limited by guarantee, incorporated in Northern Ireland.
The address of its registered office is:
77 University Street Belfast BT7 1HL HMRC Charities Number NI 00955 Company Registration No NI 636050 NI Charities Commission Ref Number NIC 107877
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4 CORNERS FESTIVAL
YEAR ENDED 31st MARCH 2023
NOTES TO THE ACCOUNTS (Cont’d)
3. Accounting Policies
The principal accounting policies applied in the preparation of these financial statements are set out below. They have been consistently applied to all of the years presented unless otherwise stated.
Statement of Compliance
3.1 These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A – ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. They have been prepared in accordance with the company's governing document. The company is a Public Benefit Entity as defined by FRS 102.
Notwithstanding the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 the directors have decided to prepare a Statement of Cash Flows.
3.2 Going Concern
At the time of approving the accounts the Members have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reviewed the ongoing impact of Covid - 19 and are satisfied that it will not have a negative effect on the charity's going concern assumption.
3.3 Charities Commission NI
The company applied for registration with the Charities Commission NI on 2nd March 2020 and this was confirmed on 7th September 2020. The company was recognised as a charity for tax purposes by H M Revenue and Customs in line with Para 1 of Schedule 6 Finance Act 2020 with effect from 27th January 2016.
3.4 Basis of preparation
These financial statements have been prepared using the historical cost convention.
3.5 Charitable Funds
Unrestricted funds are available for use at the discretion of the members in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors 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.
Designated funds are funds set aside by the members for specific future projects and to meet contractual liabilities should the charity have to close including redundancy payments, amounts due to creditors and commitments under leases.
3.6 Incoming Resources
Income is recognised when the company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that the income will be received.
Cash donations are recognised upon receipt.
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4 CORNERS FESTIVAL
YEAR ENDED 31st MARCH 2023
NOTES TO THE ACCOUNTS (Cont’d)
3.7 Resources Expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the company to that expenditure, it is probable that settlement will be required and the amount of the obligation can be reliably measured. All expenditure is accounted for on an accruals basis.
3.8 Stock
Stock is stated at the lower of cost and nett realisable value.
4. Staff numbers
The average number of employees for the year was 1.
5. Debtors
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Grants due | 23,120 | 22,084 |
6. Creditors and Accruals
£ £ Creditors & Accruals: falling due within one year 4,791 1,241
7. Members
None of the members (or any persons connected with them) received any remuneration or benefits from the company during the year.
8. Related Party Transactions
There were no related party transactions during the year. (2022 - none)
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