COMPANY REGISTRATION NUMBER: N1665041 CHARrrY REGISTRATION NUMBER: NIC 108018 Belfast Homeless Services Company Limited by Guarantee Unaudited Financial Statements 31 December 2024 PURDY UINN Chartered Accountants 42 Greencastle Street KILKEEL Co Down BT34 4BH
Belfast Homeless Services Company Limited by Guarantee Flnancial Statemants Year ended 31 December 2024 Page Trustees, annual report (incorporating the director's report) 14 Independent examinerfs report to the trustees statement of financial activities (including income and expenditure account) statement of financial position Notes to the financial statements 10-20
Belfast Homeless Services Company Llmlted by Guarantee Trusteos. Annual Report (Incorporating the Director's Report) Year ended 31 December 2024 The trustees, who are also the directors for the purposes of company law. presenl their report and the unaudited financial statements ofthe charily for the year ended 31 December 2024. R8f8renc8 and administrative dètails Registered charity name Belfast Homeless Services Charity registralion number NIC 108018 Company reg15tratlon number N1665041 Principal office and registor8d 35a Kings Str8et office Belfast Co Antrim BT1 1HU The trustee$ F Greene S Maxwell J McGinn E Murray J Murphy C Crummey D Mulholland W G Brown D Farrelly C Leinster N McDonagh L Rolston H Corbett E Lavery M J Maloney (Chairp8rson) (Appointed 15 May 2024) (Appointed 2 June 2025) (Appointed 2 June 2Q25) (Appointed 2 June 2Q25) (Appointed 2 June 2025) (Resigned 15 May 2024) (Resigned 22 November 2024) (R8sign8d 2 Jun8 2025) Independent examiner Una Cunningham FCA Purdy Quinn Chartered Accountants 42 Greencastl8 Str88t KILKEEL Co Down BT34 4BH
Belfast Homeless Services Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontlnufjdJ Year ended 31 December 2024 Structure. govemance and management Govemin Document and Gonstitution The charity is a private wmpany limited by guarantee. It is govemed by ils Memorandum and Articles ofAssociation, Trustee Sg1g¢tion and Mana 8ment The trustees have ultimate legal and financial responsibility for the affairs of BHS, although the management of the organisation is delegated to the Operational Committee, which is made up of key volunleers. The selection of trustees is governed by the charity's Articles of Association. New trustees are recruited to the Board based on identification of skills needed. The charity may by ordinary resolution.. 1) appoint a person who is willing to acl to be a director; and 2) determine the rotation in which any addilional directors are to retire. Objectives and activities Charitable ob gcts The objectives of Belfast Homeless Services {BHS) are as follows: To provide services to homeless and vulnerable adulls in Belfast including but not limited to: The provision of a "Drop In" Service. The provision of food and drink induding a hot rneal to users of the Drop In Servi The provision of social activities: The provision of clothing and washing facilities. The provision of advice information and emotional support to service users The provision of signposting service users to extemal agencies Main activities and sgThicgs In Northem Ireland, 7.637 people presented as homeless between October 2024 and March 2025 and. as of January 2024. 5,220 households were living in temporary accommodation (source: Nl Homel&ssn8ss 8u118tin, D8partment for Communwti8sI. Belfast. Derry and Straban8 had the highest proportion of homeless presenters with 7,0 per 1,000. These statistics do not include those sleeping rough. A study published in 2024 by the Housing Executive revealed there were 45 people sleeping rough in Belfast in one night in November. In our experience this figure is an underestimate. BHS operates a Drop In Facility in the city centre of Belfast, working alongside those who are vulnerable and experiencing homelessness. It is the only indoor facility in Belfast city centre. so service uses can fully use facilities. It is a volunteer led charity group with over 65 volunteers. Our philosophy is to offer access to all regardless of personal circumstances, race. gender, ability. or faith. The centre operates three nights per week and has seen demand for its services continue to increase. The charity aspires to open a fourth night in the future. The charity provid6s food. clothing, advice and support to hom8168s and vuln8rabl8 P80ple. The Drop In also provides various recreational facilities and offers much needed respite to its service users.
Belfast Homeless Services Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Dirèctor's Raport) (continu•dJ Year ended 31 December 2024 Objectives and activities (¢ontlnu&d) During the year, BHS provided various additional services design8d lo improve the m8ntal and physical wellbeing of homeless people. The charity 8150 provides signposting for service users to other key serviceslbenefits. The charity hopes to build on this type of support, subject lo sufficient resourGes and funding. Strategic r8POrt The following sections for achievements and performance and financial review form the strategic report of the charity. Achievements and perfomiance Provi&on of additional facilities and seryices lo users The volunteers of the charity serve approximately 70 people per night with ages ranging from 18 to 75+. These people are homeless - living on the streets, in hostel accommodation or 'sofa surfing,. Some are vulnerable adutts who have been given accommodation but cannot cope with running a household. The Charity provides food. clothing, advice and support to homeless and vulnerable People. Since May 2021, the charity has been open three times a week to support vulnerable adults in need of r8SPIt8. It is hoped that in time, together with the support Df volunteers and funding. the charity (xn increase the number of days it is open and the level of service it can provide to the homeless communty. The charity operates a range of 8dditional services. These additional faciliti8S W8re designed to help with the physical and mental wellbeing of Servi users. The charity provides access, via external agency support, to the following: Chest. Heart & Stroke heatth checks Podiatry services Hairdressers I barbers facilities In addition to that. the charity also provides signposting for users to other key social services and benefit5. It also rnakes frequent out of hour housing referrals to those in need. This programme of additional faGilities has proven extrernely popular with service users and has help8d a significant number of us8rs. both from a physical and a mentsl poinl of view. Fundraisin and chantable cam ns The demand for clothing saw the Charty launch a Shoe Box appeal during the year to rais8 much needed fooiwear for Service users. The appeal was run from October lo Decemb8r and the response from the general public was fantastic and something the charity hopes lo build on in fulure campaigns. In addition. during the year, the charity ran a series of fundraising events designed to help generat8 additional funding which can be used towards the needs of the charity and its service users. These included.. Charity spinalhons A quiz nighl Supermark8t bag packs, and A charity ziplin8
Belfast Homeless Services Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontlnu¢dJ Year ended 31 December 2024 Achievements and performance (contlnuedj The charity would like to express its appreciation at the amazing support for all the people that volunteered Iheir time to help create and participate in those events. Volunteer o rtunities and develo ment Volunteers are part of a very dynamic, intercultural and passionate team and engage with service users who have a range Df ccmplex needs. Training is provided regularly lo our team of volunt88rs including both mandatory and optional training. This has included training in relation to professional boundaries, safeguarding adults. food safely. first aid, addiction and mental health. Good structur8S and safety m8asures are in place at BHS which enables the volunteers to feel secure and safe. As a result of this the volunteer team has grown now to a team of over 65 individuals, all of which play a key part in delivering the services of the charity. rammes of intercultural events BHS has ongoing relationships with the Polish comrnunity and at Christmas a group of leaders from the Polish cornmunity provided the Polish service users with their traditional Christmas dinner. Representatives from the Polish Consulale were also present. This event is planned to reoccur on an annual basis going forward. We have also built strong relationships wilh the following organisations: Belfast Asian Women's Academy {BAWA) Belfast Multicultural ASSlatIon (8MCA) Events like this have strengthened the reputation of the centre as being open to all regardless of personal circumstsnces, ra, gender, ability, or faith. Thi5 inclusiveness is a key tenet of what makes the centre so welcoming and is one of the reasons why so many homeless and vulnerable peopl8 attend to use the s8rvic8s of the Drop In. This promotion of a sense of cullural inclusivity is entirely down to the great attitude of the volunteers of the charity. PSNI Communit Team BHS have strengthened its working relationship with local community PSNI repres8ntativ8s. The PSNI repres8nt8tives visit the centre on a regular basis sp8ak to both volunteers and service users. They have also given help with some very difficult situations during the year and are always available to offer additional guidance where needed. Pwc Hummin bird Pro As part of our partnership with PWC through the Hummingbird proj8Ct, we were fortunate to welcome 8 team of their staff who joined u5 over several evenings to volunteer their time and energy. During these sessions, they not only supported our regular activities bLrt also brought valuab18 r8sourc8S. including food supplies. food vouchers, and thoughffully prepared sho8box8s filled with essentials for those in need. Their involvement had an immediate impact, providing practical support and encouragement to our beneficiaries. lrnportantly, this engagement has grDwn beyond the initial visits. Sinca then, we have welcome additional volunteers from PWC who continue to support our work.
Belfast Homeless Services Company Limited by Guarantee Truslees. Annual Report (Incorporating the Directorfs Report) (contlnu•dJ Year ended 31 December 2024 Financlal revlew The finanGi81 statemenls are presented in the standard format required by the Statement of Recommended Practice on Accounting and Reporting for charities (FRS 102) and cover the activities of Belfast Hcmeless SeNices. The Slatement of Financial Activities (SOFA) shows a surplus for the year of £65.478 {2023 - £80.032). This is the charity's fifth financial accounling period. Financial performance has been broadly consistent with th8 trust88's for8casts and exp8Ctations, though these w8r8 impacted, to an 8xi8nt. by the ongoing inflationary measures that have impacted the economy more widely. Incomg durin th8 ar The income for this year was £120,124 (2023 £131,410). The charity's income primarily comes by way of donations received from individuals and businesses as well as grants received towards its core activities. Some of these donations have been designated lo enable the charily to fund future rental costs. Belfasl Homel8ss S8rvic8s continued to r8c8ive support from th8 Flax Trust during the year in the fomi of a substantial donation, The directors would like to acknowledge and thank the trust for its gen8rous support of th8 charity's activitles during th8 year. In addition, the charity was the recipient of a significant corporate contribution from the Wilson Resources Group. The directors would also like to extend their gratitude to Ihe group for their generous backing of the charity in the period. 8HS successfully applied for grants towards core funding frorn LFT Charitable Trust, of which approximately £3.840 was received in the period. A grant of £5.000 was received from Th8 Community Foundation towards volunl8er wellbeing during th8 y88r. In addition, th8 National Lottery Awards for All fund - Communty Fund also provided support, lotalling £19,968, in grant monies towards employee costs. enditure durin the ear The expenditure was £54.646 (2023: £51,378) for th8 y8ar ended 31 D8C8mb8r 2024. During the accounting period, the charity operated with two paid employees. This acceunts for a significant proportion of the expenditure spent in the period. Of the other recurring costs that the charity incurs, the major expenses relate to food and cutlery supplies. office equipment. volunteer training and Clothlng as well as external consultancy advice. These have all been impacted to an exient by the general inflationary environrnent that has been felt by the wider UK economy. During the year to 31 Dember 2024, the Charity benefited greally from the temporary provision of rent-fr8@ pr8mises at 2 Am81ia Str8et. B81fast. However. th8 charity 8nt8r8d into a 18ase for new premise5 on King Street in Belfast from 4 December 2024. PoliG for reserves The charity has a policy for reserves and the level of unrestrided reserves. The policy is reviewed on an annual basis. In this cont8Xt, unrestrict8d r8s8&s are the total funds fre81y availab18 to SP8nd on any of the Charity's purposes, This definition excludes restricted funds and funds designated for essential future spending, although holding such funds may influence the charily's reserve policy.
Belfast Homeless Service5 Company Lirnited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrectorfs Report) fcontlnued) Year ended 31 December 2024 Flnanclal revlew (¢ontlnuedJ The General Fund is unrestricted and is used for the day-to-day operation of the charity. The charity operates with an unrestricted reserve at a level set by the trustees. Currently. this is £170,975 (2023 - £145.481) following the board designalion of £32,990 to a premiseslrent fund during the year. The general running costs of the charlty increase annually as a result of infiationary conditions pushing up the recurring costs incurred by the charity. In addition. th8 charity has now engaged a part-lime employee as a service co-ordinator. More significantly, the charity which historically occupied a rent-free premises for many years has now signed a ten-year lease on ils own B81fast premises. This will significantly increase the annual core running costs of the charity and its financial (x)mmitrn8nts. Due to the combined impact of these factors. the trustees feel that the increased level of reserves h81d at the year-end is prudent and reasonable. The reserve is held lo allow the charity to offset fluctuations in income reGeipts and to provide for contingencies and known financial commitrnents. Funds Materially in Deficit As at 31 Dec8mb8r 2024, th8 charity had no funds in material deficit. Funds held as cu$todlan trustee The charity does not hold any assets in this c8pacity- Prlnclpal rlsks faclng the charlty As the charily relies on donation and is not governmenl funded, it faces a certain level of financial uncertainty. In addition. the seNice is made up of volunteers and thus runs on Iheir goodwill. The trustees have assessed the major risks to which the charity is expos8d and ar8 satisfied that syslems are in place to mitigate exposure to those risks, Going concèrn After making appropriate enquiries. the trustees have a reasonable expectalion thal the charitable company has adequate resources to continue in operational existence for the foreseeab18 futur8. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the notes to the accounts. Publlc Benefit Statement The trustees wnfimi that th8y have complied with their duty to have regard to the Charity Commission's guidance on public benefit and that the public benefil requirement has inforrned the activilies of the charily for the period to 31 December 2024. The trustees. annual report and the strategic report were approved on 2310912025 and signed on behalf of the board of trustee5 by: F Gr88n8 Trustee
Belfast Homeless Services Company Limited by Guarantee Independent Examiner's Report to the Trustees of Belfast Homeless Services Year ended 31 December 2024 I report to th8 tNst88s on my examination of the financial statements of Belfasl Homeless Services I'the charity,) for the year ended 31 December 2024. Responslbilltles and basls of report As the trustees of the company {and also its directors for the purposes of company law) you are responsible for the preparation of the financial ststements in accordance with the requirernents of Chariti8s Act (Northem Ir8landl 2008 (the '2008 Act,) and the Companies Act 2006 ('the 2006 Act,). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent exarnination. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent exarnination. I report in respect of my examinalion of the charity's financial statements as carried oul under section 65 of the 2008 Act. In carrying out my examination I have followed th8 gen8ral Dir8Ctions given by the Charity Commission for Northem Ireland under section 65(9}(b) of the 2008 Act. Independent examineV8 Stat8ment I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act. or the financial statements do not accord with Ihose records. Dr the financial statements do not comply with the accounting requirements of section 396 of th& 2006 Act other than any r8quir8ment that the accounts give a Yrue and fairf view which is not a m8lt8r considered as pari of an independent examination,. or the financial statements have not been prepared in accordan with the methods and principles of the Ststement of Recomm8nded Practice for accounting and r8porling by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabl8 in th8 UK and Republic of Ir8land IFRS 102)- I confirm that there are no other rnatters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. 231912025 Una Cunningham FCA Chartered Accountants Ireland Ind8P8nd8nt Examiner Purdy Quinn Chartered Accountants 42 Greenca5tle Street KILKEEL Co Down BT34 4BH
Belfast Homeless Services Company Limited by Guarantee Statemant of Financlal Actlvlties (includlng Income and expendlture account) Year ended 31 December 2024 Period from 1 Nov22to 31 Dec 23 Year to 31 Dec 24 Unrestricted Restricted funds funds Total funds Total funds Note Income and endowments Donations and legacies Other trading activities Inveslmenl incorne 85.824 3.344 1.623 29,333 115,157 3,344 1,623 101,121 29,289 1,UOO Total income 90,791 29,333 120.124 131,410 Expenditure Expenditure on raising funds,. Costs of r8ising donations and legacies Expenditure on charitable activities Total exp•ndituro 747 32,085 747 53.899 1,897 49,481 9.10 21,814 32.832 21,814 54,646 51,378 Net income 57.959 7,519 65.478 80,032 Transfers between funds 525 {525) Nel movement in funds 58,484 6,994 65.478 80,032 Reconciliation of funds Total funds brought forward Total funds carried fOard 145,481 39,048 184,529 104,497 184.529 203,965 46.042 250,007 The staternent of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing 8Ctivilies. The notes on pages 10 to 20 forni part of these financial statements.
Belfast Homeless Services Company Limited by Guarantee Staternent of Flnanclal Posltlon 31 December 2024 2024 2023 Note Flxed assets Tangible fixed assets 16 930 2.199 Current assets Debtors Cash at bank an¢J in hand 17 6,153 248,323 2,861 182.243 254,476 185.104 Creditors: amounts falling due within one year Net current assets 18 5,399 2.774 249,077 182.330 Totsl assets less current Ilabllltle$ 250,U07 184.529 Net assets 250,007 184,529 Funds of the charity Restricted funds 20 46,042 39,048 Unrestricted funds General funds Designated funds 20 20 170,975 32.990 145.481 203,965 145,481 Total charity funds 21 250.007 184,529 For the year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 ofthe Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not r8quir8d th8 Cotnpany to obtain 8n audit of its financial stat8TNents for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with Ihe requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by th8 board of truste8s and aulhorise(J for issue on 2310912025, and are signed on behalf of the board by.. S Maxwell Trustee F Greene Trustee Tho notes on pages 10 to 20 fomi part of these flnanclal statemènls.
Belfast Homeless Services Company Llmlted by Guarantee Notes to the Financial Statements Year ended 31 December 2024 General Infomiatlon The charity is a public benefit entity and a private company limiled by guarantee. registered in Northem Ireland and a registered charity in Northem Ireland. The address ofthe registered offi is 35a Kings Street. Belfast, Co Antrim. BT1 1HU. Statement of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of Recommended Practice applicable tc charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ir8land (FRS 1021 (Charities SORP (FRS 102}) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial ststements ar8 prepared in st8rling, which is th8 functional currency of the entily. Golng concern There are no rnaterial uncertainties about th8 charity's ability to continu8. Judgements and key sources of estlmatlon uncertalnty The preparation of the financial statements requires management to make judgetn8nts, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future ev8nts that are believed lo be r8asonabl8 under th8 circumstances. Fund a¢¢ountlng Unrestricted fund5 are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricled funds are subjected to restrictions on their expenditure declared by th8 donor or through the terms of an appeal. and fall inlo one of two sub-classes.. restricted income funds or endowment funds. 10
Belfast Homeless Services Company Limited by Guarantea Notes to the Flnanclal Statsments (oonbnved) Year ended 31 December 2024 Accountlng pollcies (¢t>ntlnuedl Incoming resourcos All incoming resources are included in the statement of financial activities when entitlement has passed to the charity. it is probable that the economic benefits as50Ci8ted wilh th8 transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of enlitlement to Ihe gift. rec8iPt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probabl8 and 8ntit18m8nt is 8Stablished. income from dc)nat8d goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived frorn the cost to the donor or the eslimated resale value. Donated facilities and services are reccgnised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is reccgnised with the delivery of Ihe Gontracted servic8. This is classif18d as unrestrict8d funds un18SS there is a contractual requir8m8nt for it to be spent on a particular purpose and returned rf unspent, in which case it may be regarded as restricted. Rosources 8xpended Expendilure is recognised on an accruals basis as a liabilty is incurred. Expenditure includes any VAT which cannot b8 fully r8cover8d, and is classified under headings of the statement of financial activities to which it relates- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activiti8s that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governan of the charity apportioned to charitable activities. other expenditure includ8s all 8XP@nditur8 that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories leCting the use of the resource. Direct costs attributable to 8 single activity are 8lloc8t8d directly lo that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Operatlng leases Lease payments are recognised as an expense over the lease tenn on a straight-line basis. The aggregate benefit of lease incentives is recognis8d as a reduction to 8XP8nse over the lease term, on a straight-line basis. 11
Belfast Homeless Services Company Limited by Guarantee Notes to the Financial Statements (¢ontlnued) Year ended 31 December 2024 Accounting policies (contlnu•dJ Tangible assets Tangib18 assets ar8 initially recorded al cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at th8 fair value at th8 date of revalualicn less any subsequent accumulat8d depreciation and subsequent accumulated impairment losses. All assets costing more than £500 are capitalised. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value. over the useful eGonomic life of that asset as follows: Kitchen Equipment Fixtures and fittings Office Equipment 250/ts Straight line 250/D Straight lin8 330/D Straight line Impainnent of fixed assets A r8Vi8w for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also r8viewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible tc> estimate th8 recov8rable atllount of an individual 8SS8t. an 8Stimale is made of the recoverable amount of the cash-generating unit lo which the asset belongs. The cash-generating unit is the smallest identifiable group of assels that includes the asset and generates Gash inflows that larg81y independent of the cash intlows from other assels or groups of assets. For impaimient testing of goodwill, the goodwill acquired in a business combination is, from Ihe acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Flnancial instruments A financial asset or a financial liability is recognised only when the entily becomes a party to the contractual provisions of the instrument. Basic financial instrum8nts are initially recognised at the arnount receivable or payable including any r81ated transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrum8nt. Current assets and current liabilities are subsequently measured at Ihe cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. 12
Belfast Homeless Services Company Llmlted by Guarantee Notes to the Financial Statements (conlinuod) Year ended 31 December 2024 Accounting policies {contlnuedJ Defined contribution plans Contributions to defined contribution plans are recognised as an expense in Ihe period in which the related service is provided. Pr8paid contributions ar8 r8cognised as an assel to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be s8tt18d wholly within 12 months of the 8nd of the reporting dale in which the employees render the related service, the liability is measured on a iscounted present value basis, The unwinding of the discount is recognised as an expense in the period in which it arises. Llmlted by guarantee The company is limited by guarantee of members and does not have 8 share capitsl. The liability of each member is limited to £1. Donatlons and legacles Unrestricted Funds Restricted Total Funds Funds 2024 Donations Donations JustGiving Donations 71.645 14.179 71.645 14,179 Grants LFT Grant BCC Community Recovery Support Grant (T21 Th8 Community Foundation Awards for All (Lottery) 3,840 525 5,000 19,968 3.840 525 5,000 19.968 85.824 29,333 115.157 Unrestricted Funds Restricted Totsl Funds Funds 2023 Donations Donations JustGiving Donations 66,792 9.229 20,000 86,792 9,229 Grants LFT Grant BCC Community Recovery Support Grant (T2) Th8 Community Foundation Awards for All (Lottery) 3.000 2,100 3,000 2,100 76.021 25.100 101,121 13
Belfast Homeless Services Company Llmlted by Guarantee Notes to the Flnancial Statements (eontlnu•dJ Year ended 31 December 2024 Other trading activitios Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Fundraising events 3,344 3,344 29.289 29.289 Invasthient Income Unrestricled Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest 1,623 1,623 1.000 1.000 Costs of raising donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Fundraising costs 747 747 Unrestrided Funds Restricled Total Funds Funds 2023 Fundraising costs 1,813 1,897 Expendlture on charltable actlvilies by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Support to Homeless and Vulnerable Adults- Belfast Support costs 29,657 2,428 21,814 51.471 2.428 32,085 21.814 53.899 Unrestricted Funds Restricted Total Funds Funds 2023 Support to Homeless ané Vulnerable Adults- Balfast Support Costs 16,784 2,187 30.510 47,294 2,187 18,971 30.510 49,481 14
Belfast Homeless Services Company Limited by Guarantee Notes to the Financial Statements {contlnued) Year ended 31 December 2024 10. Expenditure on charitable activities by activity type Activities undertaken dir8Ctly Support costs Total funds 2024 Total fund 2023 Support to Homeless and Vulnerable Adults - B8lfast Governan costs 51.471 51,575 2,324 47,553 1,928 2,324 51,471 2,428 53,899 49.481 11. Analysis of support costs Analysis of support costs Total 2024 Total 2023 Finance costs Governance costs 104 2.324 259 1,928 2.187 2,324 2,428 2,428 12. Net income Net income is stated after chargingl(crediting)'. 2024 2023 Depreciation of tangibl8 fixed assets Operating lease - renlal 1.269 2.485 1,434 13. Indepèndent examination fèes Period from Year to 1 Nov 22 to 31 Dec 24 31 Dec 23 Fees payable to the independent examiner for,. Independent 8xamination of Ihe financial statem8nts Other assurance servitts 674 1,650 2.324 648 1,280 1,928 15
Belfast Homeless Services Company Llmlted by Guarantee Notes to the Financial Stataments (continued) Year ended 31 December 2024 14. Staff costs The total staff cosls and employee benefits for the reporting period are analysed as follows: Period from Year to 1 Nov 22 to 31 Dec 24 31 Dec 23 Wages and salaries Employer contributions to pension plans 21,859 530 19,979 620 22,389 20,599 The average head count of employees during the year was 2 (2023.. 1), The charity relied on volunteers to provide many services. No emplcyee received employee benefits of more than £60,000 during the year12023: Nil). 15. Trustee remuneratlon and expenses The trustees did not receive rernuneration or other ben8fits through employment with the charity. No trustee has claimed expenses or had their expenses met by the charity. 16. Tangible fixed ass8ls Plant and Fixtures and machinery fftlings Equipment Total Cost At 1 January 2024 and 31 December 2024 3.287 654 1,356 5,297 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 1,550 822 654 894 447 3,098 1.269 2.372 654 1,341 4,367 Carrylng amount At 31 December 2024 915 15 930 At 31 December 2023 1.737 462 2,199 16
Belfast Homeless Services Company Limited by Guarantee Notes to the Financial Statements (¢ontlnuedJ Year ended 31 December 2024 17. Debtors 2024 2023 Donations re1vable Prepaymenls and accrued income 1.679 4,474 1.346 1.515 6,153 2,861 18. Creditors: amounts falllng due wlthln one year 2024 2023 Accruals and deferred incom8 Soci81 security and other taxes 5,257 142 2,593 181 5,399 2,774 19. Pensions and othèr posl.retirem8nt benefits Defined contribution plans The amount recognised as an expense in relation to defined oontributlon plans was £530 {2023: £6201. 20. Analysis of charitable funds Unrestricted funds At1Jan 2024 Al 31 Dec 2024 Income Expenditure Transfers General funds Designated funds - Premises 145,481 90,791 {32,8321 (32,465) 32,990 170,975 32,990 145.481 90,791 (32.8321 525 203,965 At1Nov 2022 At 31 D8C 2023 Income Exp8nditure Transfers General funds Designated funds- Premises 58,430 106,310 (20.784) 1,525 145,481 58,430 106,310 (20.784) 1.525 145,481 17
Belfast Homeless Services Company Limited by Guarantee Notes to the Financial Statements {contlnued) Year ended 31 December 2024 20. Analysis of charitable funds (continued) Rostricted funds At1Jan 2024 At 31 Dec 2024 Income Expenditure Transfers Premises Fund LTF Fund Covid 19 Charities Fund Awards for all Grant {Lotlery} BCC Community Re(xJvery Support Grant {T2) Th8 Community Foundation The Irish Society BCC Covid-19 Community Support Fund Charity Asset Fund John Atcheson Salary Fund 25,210 (2,485) (1.737) 22,725 2,103 3,840 19,968 19.968 525 5.000 (525) 800 15.484) 316 2,199 10.839 11,269) (10,839) (21,814) 930 39.048 29,333 (525) 46.042 AtINov 2022 At 31 Dec 2023 Income Expenditure Transfers Premises Fund LTF Fund Covid 19 Charities Fund Awards for all Grant (Lottery) BCC Community Recovery Support Grant (T2) The Community Foundation The Irish Society BCC Covid-19 Community Support Fund Charity Asset Fund John Alcheson Salary Fund 25,210 25,210 3.000 {3,000) {490) {2,047} 490 2.047 2.100 (2,100) (1,068) 1,868 1,900 800 11,900) 21 3,093 11,438 121} (1,269) 120,599) 130,594) 375 2,199 10,839 20.000 46,067 25.100 11,525> 39,048 18
Belfast Homeless Services Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 December 2024 21. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 930 47,597 {2,485) 46.042 930 254,476 (5.3991 250,007 206,879 {2,914) 203,965 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 yeer Net assets 2,199 37,030 (181) 39.048 2,199 185,103 (2.7731 184,529 148,073 (2.592) 145,481 22. Going concorn r8view The Charity is reliant on donations. grants & fundraising for income at present. This can create uncertainty over the abilty of the charity to secure sufficient funding in the foreseeab18 fulur8. The Charity has considered the impact of the current environment on the financial performance and cash flow of the organisation. It has considered the costs associated with the relocation to 35a Kings Street. The Charity's forecast and projections, taking account of reasonably possible changes in its operating performance, show that the Charity should be able to operate within the level of its current funds. After making enquiries, the directors have a reasonable expectation that the Charity will have adequate resources to continue in op8rational existenc8 far lh8 fores88able future. For these reasons. they continue lo adopt the going concem basis in preparing the annual report and accounts. 23. Capital commitm8nts At the balance sheet dale, the Charity had authorised Ihe refurbishment of ils leasehold propety at 35A King Street, Belfast. The expenditure wa5 deemed necessary for the charily to continue with its existing operation. This expenditure, expected to be approximately £40,000, was aulhorised by the board but not contracled for or provided for at the y8ar end. The Charity is hop8ful that this cost will b8 partly fund8d by a grant in the r8gion of £25,000. 19
Belfast Homeless Services Company Llmlted by Guarantee Notes to the Financial Statement5 (contlnuedj Year ended 31 December 2024 24. Other financial commitments On 4th December 2024 the Charity signed a ten-year lease on a premises at 35A King Street, Belfast. The minimum cornmitment for rent and service charges under the len-year lease is outlined below. 25. Operallng lease commitments The totsl future minimum lease 8xpens8 under nDn-cancellable op8rating leas8s are as follows: 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years Laler than 5 years 34,771 139,084 171,369 345.224 26. Related partles During the year the charity OCCUPi8d the building at 2 Am81ia Street, Belfast on a r8nt-free basis. The charity and the company with title the building (Hastings Hotels Group Limited) have a director in common. Mr J McGinn. 20