NEWFORGE COMMUNITY DEVELOPMENTTRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024 Notes 2024 Total Funds 2023 Total Fund5 Unrestricted Restricted Funds Funds Incoming Resources Incoming Resources from Voluntsry Income Donations and legacies Grants Incoming Resources from Charftable Artivities Incoming Resources from Other Trading Activities Incoming Resources from Other Trading Activitles Membership subscriptions Investment Income Rents receivable Total Incoming Resources 165,000 165,000 30.796 30,796 1,113 18,054 48,850 18,054 213,850 165,000 1,113 Resources Expended Raising funds Charitable activities Total Resources Expended 1215,513} (102,2631 1215,513) 1102,263) 317.776 317,776 1141, 174) 1141,174) Net (Outgoing)/incoming Resources Tax on net loutgoingl/incoming resources Net Movement in Funds Funds Balances Brought Forward at l Aprll Funds Balances Carried Forward at 31 March io 1166,663) 62,737 (103,926) 1140,061) 12 (166,6631 1185,361) {352,024) 62,737 (103,926) (185,361) 62,737 (289,287) (140,0611 145,300) {185,361) 19 12
NEWFORGE COMMUNITY DEVELOPMENT TRUST STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024 Notes 2024 2023 Unrestricted Funds Restricted Funds Total Funds Total Funds Fixed Assets Tangible assets 13 208.526 208,526 7,348,008 7,348,008 7,556,534 7,556,534 6,767,738 6,767,738 Current Assets Debtors Cash at bank and in hand 14 19,633 175 530,000 549,633 175 47,043 1,165 48,208 {7,001,3071 {6,953,0991 Creditors: amounts falling due within one year Net Current Liabilities 19,808 530,000 549,808 (580,3581 {7,815,2711 (8,395,629) 1560,5501 17,285,2711 {7,845,821) 15 Total Assets less Current Liabilities 1352.024) 62,737 (289,287) {185.3611 Creditors: amounts falling due after more than one year 16 Net Llabilities 1352,0241 62,737 (289,287) {185,361} The Funds of the Charrty General funds Revaluation reserve Total Funds 19 1352,0241 62,737 (289,2871 {185,3611 19 1352,0241 62,737 (289,2871 {185,3611 Total Charity Funds {352,024) 62,737 (289,287) 1185,3611 The financial statements on pages 12 to 29 were approved by the Board on 29 August 2024 and were signed on its behalf by Trustee A McGowan Company Secretary Registered Number". N1643348 Charity Commlssion Number: 107999 13
NEWFORGE COMMUNITY DEVELOPMENTTRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 Total Funds 2023 Total Funds Unrestricted Funds Restricted Funds Notes Net Incoming /(outgolng) Resources before Interest 20 1116,534) 894,314 777,780 4,359,522 Cash Flows from Investing Artivities Proceeds from sale of tangible fixed assets Purchase of tangible fixed assets 649,401 {1,797,641) (1,148,240) 532,867 (903,3271 (370,460) 14,385,855) 126,333) Cash Flows from Financing Activities Drawdown of bank loans Repayment of bank and other loans Repayment of principal under hire purchase agreements Interest paid on bank loans and overdrafts Interest paid on hire purchase agreements 455,215 455,215 117) (9,3171 (9,317) 14,7371 {9,317} 455,215 445,898 {4,754} (Decrease)/lncrease in Cash In the Year Cash and cash equivalents at the beginning of the year Total Cash and Cash Equivalents at the End of the Year 523,550 (448,1121 75,438 131,087) 11,103,733) 985,144 (118,589) 187,5021 {580,1831 537,032 (43,151) (118,5891 Cash and Cash Equivalents (onslsts of: Cash at bank and in hand Bank overdrafts Total Cash and Cash Equivalents at the End of the Year 175 (580,358) 175 143.326) 1,165 {119,754) 537,032 1580,1831 537,032 {43,151) (118,589 14
NEWFORGE COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General Information The principal activity of the Newforge Community Development Trust was to provide sports and recreational facilities and services for serving and retired police officers, staff, their families and the wider community, to encourage mental and physical wellbeing and to further improve relations between the police and communities. The company is a private entity limited by guarantee. The company is incorporated in Northern Ireland and domiciled in the United Kingdom. The address of its registered office is 18b Newforge Lane, Belfast, BT9 5NW. Statement of Compliance The financial statements of the Newforge Community Development Trust have been prepared in compliance with United Kingdom Accounting Standards, including Financial Reporting Standards 102, 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland" ("FRS102") and the Charities SORP. Summary of Significant Accounting Policies The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated. a) Basis of Preparation These financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FR51021 (effective l January 2015) I'charities SORP IFRS10211. Newforge Community Development Trust meets the definition of a public benefit entity under FRSIO2. Assets and liabilities are initially recognized at historical cost and transaction value unless Otherwise stated in the relevant accounting policy note. Certain comparative amounts in the financial statements have been reclassified to conform to changes in presentation in the current year. The Trustees have prepared the financial statements on the going concern basis, giving careful consideration to the results during the financial year. The group has further reviewed its service range, rationalised its cost base and will be restructuring its banking facilities. It envisaged that these changes will continue to have a positive impact on group results and cashflows which will ensure that it can continue as a going concern. Going concern The Trustee5 have given careful consideration to the results during the financial year. The trust has net current liabilities of £454,287 (2023: £185,361}, while the Trust continued to experience challenging economic conditions during the financial year. In order to meet its liabilities as they fall due the Trust is dependent on funding from and an associate company and adequate banking facilities. On this basis, a material uncertainty exists that may cast significant doubt on the Trust's ability to continue as a going concern and, therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business. Giving due consideration to the cash flow forecasts prepared, current trading performance and liquidity position of the trust, including existing bank facilities, the Trustees believe that the Trust will be able meet its liabilities as they fall due and will be able to continue as a going concern for the period of not less than 12 months from the date of this report. The Trust has received assurances from its associated company that it will not seek repayment of any balances due to them if the company is not in a position to settle them and will continue to provide financial support for a period of 12 months from the date of these financial statements. On that basis, the financial statements continue to be 15
NEWFORGE COMMUNITY DEVELOPMENTTRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) prepared a going concern basis. The financial statements do not include any adjustments made to reflect an inadequate funding level the associated company or a reduction in or withdrawal of banking facilities. b) Tangible Fixed Assets Tangible fixed assets are stated at cost less accumulated depreciation. The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition. Depreciation is calculated so as to write off the cost, or valuation of tangible fixed assets, less their estimated residual values, on a straight line or reducing balance basis over the expected useful economic lives of the assets concerned. The principal annual rates used are as follows: Freehold buildings Pitches Equipment, fixtures & fittings Computer equipment Portacabin Motor vehicles 2Yo Straight line. IOYO Straight line. 15Yo- 30Yo reducing balance/straight line. 25Yo Straight line. IOYo- 20% straight line. 25% straight line. The assets, residual and useful lives are reviewed and adjusted, if appropriate at the end of each reporting period. The effect of a change is accounted for prospectively. Freehold land is not depreciated. No depreciation is charged on assets under construction, depreciation is charged from the point of which the assets are brought into use. Assets held under finance lease are depreciated over shorter of the useful economic life of the asset or the term of the lease. Where the recoverable amount of a tangible fixed asset is found to be below its net book value, the asset is written down to the recoverable figure and the loss on impairment is recognised in the Statement of Financial Activities. Subsequent costs, including major inspections, are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the company and cost can be measured reliably. The carrying amount of any replaced component is derecognised. Major components are treated as a separate asset where they have a significantly difference pattern of consumption of economic benefits and are depreciated separately over its Useful life. Repairs, maintenance and minor inspection costs are expensed as incurred. Tangible fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal the difference between net disposal proceeds and the carrying amount is recognised in the profit and loss account. c) Investments Fixed asset investments are stated at their purchase cost less any provision for diminution in value. 16
NEWFORGE COMMUNITY DEVELOPMENTTRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) d) Stocks Stocks are stated at the lower of cost and net realisable value. Cost comprises material cost and is determined on a first in, first out basis. Net realisable value is calculated as the estimated proceeds from the sale of items of stock less costs to be incurred in marketin& selling and distributing directly. Where necessary, provision is made for obsolete, slow moving and defective stocks. e) Cash and Cash Equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of 3 months or less and bank overdrafts. Bank overdrafts are shown within borrowing in current liabilities and form an integrated part of the group's cash management. f) Debtors Debtors are stated after all known bad debt5 have been written off and specific provision has been made against all debts considered doubtful of collection. g) Incoming Resources All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Grnnts Revenue grants are credited to incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period, in which case they are deferred. Grants for the purpose of capital expenditure are credited to restricted incoming resources when receivable and transferred to general funds on purchase of asset. Membership subscriptions Membership subscriptions are credited to the Statement of Financial Activities on a subscription year basis. Subscriptions received in advance of the year end are treated as liabilities of the Association. Gifts and donotions Gifts and donations are included in full in the Statement of Financial Activities upon receipt. Incoming resourcesfmm trading activities Incoming resources from trading activities is recognised when conditions for its receipt have been met. Charitable urtivities I ncoming resources from charitable activities is recognised on an accrual's basis. Investment income- rents receivable Investment income is recognised on an accrual's basi5. Other incoming resources Other incoming resources are recognised on an accrual's basis. 17
NEWFORGE COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) h) Resources Expended All 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 directly attributed to particular headings, they have been allocated to activities on a basis consistent with use of the resources. Staff costs and overhead expenses are allocated to attivities on the basis of staff time Spend on those activities. Raisingfunds Raising funds includes the salaries, directexpenditure and overhead costs of staff who promote fund raisin& including events and mailings. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Choritoble ortivities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs Governance costs includes those incurred in the governance of its assets and are associated with constitutional, statutory and strategic requirements. i) Leased Assets At inception the company assess agreements that transfer the rightto use assets. The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement. Finance leases Where the group enters into a lease which entails taking substantially all the risk5 and rewards of ownership of an asset, the lease is treated as a "finance lease" The asset is recorded in the Balance Sheet as a tangible fixed asset and is depreciated over its estimated useful economic life or the term of the lease, whichever is shorter. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the Statement of Financial Activities and the capital element which reduces the outstanding obligation for future instalments. Operoting leases Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Rentals under operating leases are charged to the Statement of Financial Activities as incurred. i) Unrestricted Funds Unrestricted funds are donations and other incoming resources received or generated which are expendable at the discretion of the company in furtherance of its objectives. k) Functional Currency The financial statements are presented in pound sterling. The companvs functional and presentation currency is the pound sterling. 18
NEWFORGE COMMUNITY DEVELOPMENTTRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) Tmnsartions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the Profit and Loss Account. l) Financial Instruments The group has chosen to adopt Sections 11 and 112 of FRS102 in respect of financial instrument5. Financial assets Basic financial assets, including trade and other receivables and cash and bank balances and are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts, discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured an amortised c05t are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment Ioss 15 recognised in profit or loss. If there is decrease in the impaiment 1055 arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Financial assets are derecognised when la) the contractual rights to the cash flows from the asset expire or are settled, or Ib) substantially all the risks and rewards of the ownership of the asset are transferred to another party or Icl despite having retained some significant risks and rewards of ownership, control of the assets has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts of discounted at a market rate of interest. Debt instruments are subsequently carried at amortised costs, using the effective interest rate method. 19
NEWFORGE COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortlsed over the period of the facility to which it relates. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within I year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transartion price and subsequently measured at amortlsed cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Offvtting Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right 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. m) Related Party Transactions The group discloses transactions with related parties. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the directors, separate disclosure is necessary to understand the effect of the transactions on the group financial statements. n) Employee Benefits The group provides a range of benefits to employees, including paid holiday arrangements and defined contribution pension plans. Short term benefits Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received. Defined contribution penslon plans The group operates a defined contribution scheme for specific directors and employees. A defined contribution plan is a pension plan under which the group pays fixed contributlons into a separate entity. Once the contributions have been paid the group has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the Balance Sheet. The asset5 of the plan are held separately from the group in independently administered funds. 20
NEWFORGE COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) o) Provisions and Contingencies Provisions Provisions are recognised when the company has a present legal or constructive obligation a5 a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of obligations can be estimated reliably. When there are a numberof similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same cla55 of obligations may be small. Provisions are measured at presentvalue of the expenditure expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risk5 specificto the obligation. The increase in the provision due to the passage of time is recognised as a finance cost. Contingencies Contingent liabilities, arising as a result of past events, are not recognised when {1) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or {ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company's control. Contingent liabilities are disclosed in the financial statements unless the probability of an oufflow of resources is remote. Critical Judgements and Estimations of Uncertainty Criticaljudgements in appfying the compan5 accounting policies There are no critical judgements in applying the company's accounting policies. Key accounting estimates and ossumptions There are no key accounting estimates and assumptions in applying the company's accounting policies. Donations and Legacies 2024 Total Funds 2023 Total Funds Unrestricted Funds Restricted Funds 21
NEWFORGE COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) Grants 2024 Total Funds 2023 Total Funds Unrestricte d Funds Restricted Funds Government grants Other grants I65,0 165,000 165,000 165,000 Incoming Resources from Charltable Activities 2024 Total Funds 2023 Total Funds Unrestricte d Funds Restricted Funds 30,796 30,796 30,796 30,796 1,113 1,113 Incomlng Resources from Other Trading Activlties 2024 Totsl Funds 2023 Total Funds Unrestricte d Funds Restricted Funds 22
NEWFORGE COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) Resources Expended 2024 Total Funds Unrestricted Funds 2023 Total Funds Restritted Funds Wages and salaries Staff pension costs Programme resource5 Pitch/Room hire Rent Light & Heat Insurance Water Rates Equipment Hire Repairs & Renewals Cleaning Printin& postage and stationery Advertising Telephone Computer costs Motor expenses Legal and professional Bank charges Catering Staff clothing Depreciation General expenses Interest 9,081 9,081 136 85,203 1,253 81,250 3,000 11,421 136 59,967 3,529 17,715 3,720 85,203 1,253 81,250 3,000 11,421 1,194 150 539 817 333 190 9,176 1,273 306 163 29,833 760 3,797 530 6,089 300 4,300 2,035 1,723 504 11,337 6,089 300 4,300 2,035 1.723 11,337 16,891 1,269 3,550 16,891 1,269 3,550 7,979 58,370 2,768 9,317 317,776 7,979 58,370 2,768 9,317 215,513 2,445 4,737 141.174 102,263 10. Net Incoming Resources 2024 2023 This is stated after charging Staff costs (note 111 Depreciation of tangible fixed assets- owned assets Fees payable to the company's auditors for audit of the financial statements Fees payable to company's auditors for taxation 9,217 58,370 7,500 3,500 63,496 7,500 3,500 23
NEWFORGE COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) 11. Analysis of Staff Costs, Directors, Remuneratlon and Expenses and the Remuneration of Key Management Personnel Staff costs: Wages and salaries Social security costs Pension costs 2024 2023 6,729 2,352 136 9,217 41,843 18,124 3,529 63,496 2024 Number 2023 Number The average monthly number of persons employed by the group (excluding trustees) during the year by activity was: Selling and distribution Administration Emolument of employees The number of employees whose emoluments (salaries, wages and benefits in kind) fell within the following bands: £70,001- £80,000 £80,001- £90,000 Pension contributions of that employee 2024 Number 2023 Number The Trustees did not receive any emoluments during the year. No out-of-pocket expenses were reimbursed to the Trustees during the year {2023: £0). Retirement benefits are accruing to Trustees under a defined contribution scheme are £0 (2023: £01. During the year, pension contributions on behalf of the Trustees amounted to £0 {2023: £0). 12. Tax on Net Outgolng Resources The company was granted charitable status effettive from 11 October 2020 and therefore no corporation tax charge is applicable in relation to its charitable activities, which encompass all activities of the company. 24
NEWFORGE COMMUNITY DEVELOPMENTTRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) 13. Tangible Flxed Assets Freehold Property CURRENT YEAR Equipment, Fixtures & Fittings Total Cost or Valuatlon: At l April 2023 Additions Disposals At 31 March 2024 Depreciotion." At l April 2022 Charge for year Disposals At 31 March 2024 Net Book Value At 31 March 2024 At 31 March 2023 6,471,716 1,055,128 296,022 93,112 6,767,738 1,148,240 7,S26,844 389,134 7,915,978 301,074 58,370 359,444 301,074 58,370 359,444 7,225,770 6,471,716 330,764 296,022 7.556,534 6,767,738 The above assets are pledged as security against bank facilities. 25
NEWFORGE COMMUNITY DEVELOPMENTTRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) 13. Tangible Fixed Assets {continued) Freehold Property PRIOR YEAR Equipment, Fixtures & Fittings Total Cost or Valuotion: At l April 2022 Additions Disposals At 31 March 2023 Depreciation.. At l April 2021 Charge for year Disposals At 31 March 2023 Net Book Value At 31 March 2023 At 31 March 2022 2,378,572 4,093, 144 3,311 292,711 2,381,883 4,385,855 6,471,716 296,022 6,767,738 6,471,716 2,378,572 296,022 3,311 6,767,738 2,381,883 14. Debtors 2024 Total Funds 2023 Total Funds Unrestritted Funds Restricted Funds Other tax and social security Prepayments and accrued income 44,968 2,075 47,043 19,633 19,633 530,000 530,000 549,633 549,633 15. Creditors: amounts falling due within one year 2024 Total Funds 2023 Total Funds Unrestricted Funds Restricted Funds Bank overdraft (note 181 Trade creditors Amounts owed to associated companies Other tax and social security Accruals and deferred income 580,358 (537,0321 91,774 628,198 6,636 7,625,695 7,815,271 43,326 119,754 91,774 836,384 628,198 172,983 6,636 4,284 7,625,695 5,867,902 8.395,629 7,001,307 Amounts due to group undertakings are unsecured, interest free and have no fixed date of repayment. The security for bank and other facilities is disclosed in note 18. 580,358 26
NEWFORGE COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) 16. Creditots: amounts falling due after more than one year 2024 Total Funds Unrestricted Funds 2023 Total Funds Restricted Funds Bank loans (note 18) Deferred income The security for bank and other facilities is disclosed in note 18. 17. Obligatlons under Hire Purchase Agreements 2024 Total Funds 2023 Total Funds Unrestricted Funds Restricted Funds Net hire purchase obligations fall due as follows: Within one year Within two and five years 18. Bank and Other Loans 2024 Total Funds 2023 Total Funds Unrestricted Funds Restricted Funds Maturity of financial liabilities In one year or less, or on demand In more than one year, but not more than two years In more than two years, but not more than five years In more than five years 580,358 1537,032) 43,326 119,754 580,358 {537,032) 43,326 119,754 27
NEWFORGE COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) 19. Analysis of Charitable Funds Revaluatlon Reserve General Funds Restrirted Funds Total Funds Charity- unrestricted funds At l April 2023 Net incoming resources for the year At 31 March 2024 1185,3611 1166,663) (352,024) {185,3611 1103,926) (289,287) 62,737 62,737 Revaluation Reserve General Funds Restricted Funds Total Funds Charity- unrestrlcted funds At l April 2022 Net incoming resources for the year At 31 March 2023 145,3001 (140,0611 (185,361) 145,3001 {140,061} {185,361 20. Notes to the Cash Flow Statement 2024 Total Fund5 2023 Total Funds Unrestricted Funds Restricted Funds Net loutgoingl/ incoming resources Interest expense Net incoming resources before interest Depreciation charge Movement in stocks Movement in debtors Movement in creditors Net cash inflow from operatlng activities 1166,6631 9,317 {157,346) 58,370 62,737 (103,926) (140,061} 9,317 4,737 (94,609) 1135,324) 359,444 62,737 301,074 (17,558) (485,0321 1,015,535 894,314 (502,590) 1.015,535 777.780 1408) 4,495,254 4,359,522 1116,534) Analysis of Net Debt At l April 2023 Cash Flows Non-cash Changes At 31 March 2024 Cash at bank and in hand Bank overdraft Cash and cash equivalents Bank loans Other loans Total 1, 165 (119,7541 1118,589) (990) 76,428 75,438 175 (43,326) (43,151) (172.983} (291,572) 1455,215) {379,777} (628,198) (671,349) 28
NEWFORGE COMMUNITY DEVELOPMENTTRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) 21. Flnancial Instruments 2024 Total Funds 2023 Total Funds Unrestritted Funds Restricted Funds Financial assets that are debt instruments measured at amortised cost Trade debtors Other loan Financial liabilities measured at amortised cost Bank overdrafts Amounts owed to associated companies Net obligation under finance leases and hire purchase Trade creditors Accruals 580,358 1537,032) 628,198 43,326 628,198 119,754 172,983 91,774 7,632,331 7,815,271 91,774 7,632,331 8,395.629 836,384 5,872,186 7,001,307 580,358 22. Contingent Liabilities Guarantees The company has given no guarantees requiring disclosure. Capital commitments The company had no capital commitments at the year-end {2023: £01. 23. Related Party Transactions At the Balance Sheet date the company had amounts outstanding of £402,939 (2023: £171,807) with Royal Ulster Constabulary Athletic A550ciation Limited which is a related party due to common directors and £225,259 (2023: £1,176) with Newforge Trading Services, also a related party due to common directors. 24. Ultlmate Controlling Party The ultimate controlling party is the Board of Trustees. 29