Company registration number: N1058199 Monkstown Boxing Club Company limited by guarantee Unaudited flnancial statements 28 February 2023 Registered with Charity Commisslon for Northern Ireland No. 108300
Monkstown Boxing Club Company limited by guarantee Contents Page Trustees and other information Trustees report Independent examiners report Statement of financial activity Statement of financial position Notes to the financial statements 9-12
Monkstown Boxing Club Company Ilmlted by guarantee Trustees and other informatlon Trustees Mr Billy Snoddy MBE Mr Mark Langhammer Mr Ronnie Crawley Mr Paul Johnston MBE Ms Sue Ellen Gourley Secretary Paul Johnston MBE Company number N1058199 Reglstered office Cashel Drive Monkstown NownabbeY BT37 OEY Accountants Allen Fleming CA Limited Old Bank House 161-183 Upper Lisburn Road Belfast BT10 OLJ Page 1
Trustees Report The Trustees, who are Directors for the purpose of company law, present their annual report including the strategic report together with the unaudited financial statements of the charity for the year ending 28 February 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities (FRS 102) in preparing the annual report and financial statements of the charity. Directors The following Directors have held office since 1 March 2022 (unless stated)-. Billy Snoddy MBE (Chair) Mark Langhammer Iv1 Chair) Robert Crawley Sue-Ellen Gourley Paul Johnston MBE (Company Secretary) Directors, Interests None of the directors of the company held a beneficial interest in the assets of the company. There were no emoluments paid to directors during the current year. Directors did not claim any expenses during the current year in their capacity as Directors. Chief Executive Officer Since August 2012 the Chief Executive Officer. known as the Project Director and Company Secretary, has been Paul Johnston MBE. Structure, Governance and Management Monkstown Boxing Club is a yOLrth work charity that has been working with the most vulnerable young people in Northem Ireland for nearly four decades. We were established in January 1983, when a small group of local people wanted to offer a positive outlet for youth through the establishment of an amateur boxing club. Fast forward 40 years and the club is recognized a pioneering youth and community hub, open 6 days a week including school holidays, offering young people a safe place to go, something to do and someone to talk too. Monkstown Boxing Club's purpose is to help young people grow to be happy, healthy, and successful adults. Ourboxing, fitness and youth space's provide young people with a range of activities, giving them the opportunity to try new things, meet newfriends and gain 5UPPOrt from passionate and positive youth workers and volunteers. Since 2012 through investment from a range of partners, the club has been delivering an award winning education support programme for young people disengaged from mainstream education as well a5 providing young men's and young women's groups, a breakfast and after school's club, youth leadership and employability programmes. Called 'ln Yourcorner, the project works with over250 young people on a weekly basis accessing services and support. As a result of Covid-19, the club now provides a wide range of family and children's services to the local community including a food-bank service to families affected by poverty and a full-time Counsellor. It is this demand for place-based services that has driven our vision for a new flagship Community Wellbeing Hub in Monkstown that will contribute to economic regeneration in the area and provide children, young people, and adults with somewhere to go, inspiring things to do and supportive people to talk to. Monkstown Boxing Club is a company limited by guarantee, incorporated on 21 February 2006 and registered with the Charity Commission Northern Ireland on 15 October 2021. It is governed under Ihe company's Memorandum and Articles of Association. Page 2
All of Monkstown Boxing Club's governance is exercised by the Trustees, who are individuals whose extensive experience at senior executive and management levels in commerce, industry, civil service, academic and community service is made available to Monkstown Boxing Club on a voluntary and strongly committed basis. New Directors are appointed following an interview and assessment process. Following appointment, new Directors receive induction briefing5 on the strategic plan and financial activities of the company. Day-to-day management of the project is headed by the Project Director, assisted by the Lead Youth worker and educationl youth team. Issuing from this central leadership team, there 15 a line management structure that links and evaluates personnel and work progress in various projects and activities. The Project Director reports directly to the Chair and Trustees. Administration and accounting oversight operate through monthly reports on income and expenditure with the Finance Manager and Project Leacl's. These include not only the immediale and cumulative past figures, but budgetary forecasts. This information is approved by the Project Director and Youth Programmes Lead. Risk Management The Trustees have examined the major strategic, business, and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that necessary steps can be taken to minimize those risks. During this financial year our Financial Protocols and Safeguarding Policy has been updated. A risk register is now included as a standing agenda at Board meetings. Public Benefit Statement The charity's beneficiaries are socially disadvantaged young people and the wider community. The public benefits of the charity include increased knowledge, skills and qualifications and improved employability for socially disadvantaged young people, increased knowledge, skills and work-related experience and improved employabilty and increased self-esteem and confidence for the workplace and increased access to further education, training and employment These direct benefits are demonslrated through.. The number of young people who face social disadvantage, having access to safe spaces, fun and development activities. The number of young people who face social disadvantage having opportunities to lead healthier, happier lives. The numberof young people who face social disadvantage being able to raise their aspirations and fulfil their potential. The number of young people who face social disadvantage and progress into education, training and employment using personal development plan5. Objectives and Activities During this financial year Monkstown Boxing Club updated ourobjects whilst applying to the Chartty Commission for Northern Ireland. This has now been approved by the CCNI and Companies House. The Charity's Objects are specifically restflcted to the following: Give Young People a safe exciting place to go to have fun. Our services will provide young people with opportunities to get involved in a wide range of activities, building confidence, self-esteem, social and communication skills. Access to new experiences and challenges help young people to grow resilience and motivation, a5 well as problem-solving skills in a safe and accessible space. Page 3
Help Young People lead healthier, happier lives. 'The Box, Community Hub will benefit young people's physical and emotional wellbeing, Research into how our programmes impact young people's physical and emotional wellbeing found significant benefils on their emotional intelligence and resilience. Over 89 % of young people stated they are more confident since joining the club, and 90Q/o say they get on better with people. Support Young People to raise their aspirations & fulfil their potential. The club's education and employability programmes have proven to prepare young people for the future. 95 % ofyoung people say the club helps betterprepare them for the future, and 820/0 report better marks in school. Through our employability programme, 84/0 of participants found work, or move into training or education. During this financial yearourDirectors, staff and young people updated ourstrategy. Our newvision and mission are: Vision: For every young person we serve lo be happy, healthy and able to thrive. Mission: To empower young people to lead posltive, fulfilling lives by providing access to incredible programmes and 8xceptional youth work, delivered by outstanding people, where they are needed the most. Values: Our values underpin everything we do and how we do it. They are.. Young People first Ambition Excellence a collabotIOn Respect Financial Review Monkstown Boxing Club returned net income for the year of £11,308 (2021.. £37,453) which comprised a net unrestricted surplus of £218,688. Plans for Future Periods. The plan for the next financial year has been agreed with main funding coming from Department of Education, National Lottery Community Fund, Antrim & Newtownabbey BC and Children in Need. We also have minor partners through Department of Justice and Education Authority- The Project Director has continued to investigate the potential for new funding from Peace Plus and Levelling in the delivery of our vision for a new flagship youth space and community hub. Political and Charitable Donatlons During the year the company made no political or charitable contributions. Reference and Admlnistrative Details The organizations, details are as disclosed on the administrative details page. Page 4
Independent examinevs report to the charity Monkstown Boxing Club I report on the accounts of the Charity fr)r the year ended 28th February 2023. Respective responsibilities of charity trustees and examiner As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charrties Act (Northern Ireland) 2008. It is my responsibility to.. examine the accounts under section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act state whether particular matters have come to my attention. Basis of independent examinerfs report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in acGordance with the general Directions given by the Charity Commission for Northern Ireland under section 65{9)(b} of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees ¢onceming any such matters. My rol8 IS to state whether any material matters have come to my attention giving me cause to believe.. 1. That accounting records were nol kept in accordance with section 63 of the Charities Act 2. That the accounts do not accord with those accounting records 3. That the accounls do not comply with the accounting requirements of the Charities Act That there is further information needed for a proper understanding of the accounts to be reached. Independent examinerfs statement I have Gompleted 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, I have found no matters that require drawing to your attention. Name.. Lois Kenny FCCA Allen Fleming C A Limited Chartered Accountants and Registered Auditors Old Bank House 161-163 Upper Lisbum Road Belfast BT10 OLJ Date: 18th September 2023 Page 5
Monkstown Boxing Club Company limited by guarantee Statement of financlal activity Year ended 28th February 2023 Note Unrestricted Restricted 2023 2022 Turnover 250,453 69,689 320,142 340,530 Administrative expenses (239,145) (69,689) (308,834) (303,077) Operating profitl(loss) 11,308 11,308 37,453 other inter8St receivable and similar income ProfiV(loss) on ordinary activltles before taxation Tax on profiU{loss} on ordinary activities 11,308 11,308 37,453 Profitl(loss) for the financial year and total comprehensive income 11,308 11,308 37,453 Reserves at the start of the year 207,380 207,380 169,927 Reserves at end of the year 218,688 218,688 207,380 All the activities of the company are from continuing operations. The notes on pages 7 to 11 form part of these finan¢lal statements. Page 6
Monkstown Boxing Club Company Ilmited by guarantee Statement of financlal position 28th February 2023 2023 2022 Note Current assets Debtors 69,689 Cash at bank and in hand 159,186 218,148 228,875 218,148 Creditors: amounts falling due within one year {10,187) (10,768) Net current assets 218,688 207,380 Total assets less current liabilities 218,688 207,380 Net assets 218,688 207,380 Capital and reserves Profrt and loss account 218,688 207,380 Unrestricted funds 218,688 207,380 For the year encling 28th February 2023 the company was entitled to exemption from audii under section 477 of the Companies Act 2006 relating to small companies. The notes on pages 9 to 12 fonn part of these financial statements. Page 7
Monkstown Boxing Club Company limited by guarantee Statement of financial posltlon 28th February 2023 Trtjstees responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subjectto the small companies, regime and in accordance with Section 1A of FRS 102'The Financial Reporting standard applicable in the UK and Republic of Ireland,. These financial statements were approved by the board of trustees and authorised for issue on 18th September 2023, and are signed on behalf of the board by.. Mr Paul Johnston MBE Mr Billy Snoddy MBE Trustee Trustee Company registration number.. N1058199 The notes on pages 9 to 12 form part of these financial statements. Page 8
Monkstown Boxing Club Company limited by guarantee Notes to the financial statements Year ended 28th February 2023 General information The company is a private company limited by guarantee, regislered in Northern Ireland. The address of the registered office is Cashel Drive, Monkstown, Newtownabbey, BT37 OEY. Statsment of compliance These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicabl8 in the UK and Republic of Ireland,. Accounting policies Basis of preparatlon 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 profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Tumover Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods),. the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Taxatlon The taxation expense represents the aggregate amount of current and deferred tax recogni5ed in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in Capital and reserves. In this case, tax is recognised in other comprehensive income or directly in Capital and feserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or Substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Page 9
Monkstown Boxing Club Company limlted by guarantee Notes to the financial statements Year ended 28th February 2023 Operating leases Lease payments are recognised as an expense over the lease term on a slraight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term. on a straight-line basis. Financial instruments A financial asset or a financial liabilty is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction pri, unless the arrangement constitutes a financing transaction, where it is recogni5ed at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference share5 are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impaiment. other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairrnent at the end of each reporting date. If the is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equty instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amoLtnt of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Page 10
Monkstown Boxing Club Company limited by guarantee Notes to the flnancial statements {¢ontinued) Year ended 28th February 2023 Limited by guarantee Company Limited by guarantee Employee numbers The average number of persons employed by the company during the year amounted to 8 (2022: 7). Debtors 2023 2022 Other debtors 69,689 Page 11
Monkstown Boxing Club Company limited by guarantee Notes to the financial statements (continued) Year ended 28th February 2023 Creditors: amounts falling due withln one year 2023 2022 Bank loans and overdrafts 1,937 3,061 Other creditors 8,250 7,707 10,187 10,768 The following pages do not form part of the statutory accounts. Page 12
Monkstown Boxing Club Company limited by guarantee Detailed Income statement Year ended 28th February 2023 2023 2022 Turnover Membership fees Other Income 1,482 2,673 320 13,338 Children in Need 4,770 22,691 Department of Communities 4,117 Antrim & Newtownabbey Borough Council Sport Nl 35,725 41,916 12,500 12,500 Community Foundation Probation Board N.1 7,070 6,500 National Lottery Community Fund UK Youth 63,258 104,525 15,000 Halifax 1,000 Springboard NIHE 21,175 450 Department of Education Nl Youth Forum 69,689 1,720 1,500 Action Renewables 2,557 2,026 Education Authority Other Fund Raising Versus Arthriti5 54,189 71,328 13,099 4,000 PHA Grant 1,000 Crowdfunder 16,986 9,847 Ct>Opefation Ireland AYE 8,000 4,182 2,821 SPE Contracts Ltd 1,000 Youth Justice 4,925 Fundraisingl South Africa Impact NeOrk 12,598 5,195 3,000 320,142 340,530 Page 13
Monkstown Boxing Club Company limited by guarantee Detailed income statement Year ended 28th February 2023 2023 2022 Gross profit 320,142 340,530 Gross profit percentage 100. 100.0% Overheads Administrative expenses {308,834) {303,077) (308,834) (303,077) Operating profit 11,308 37,453 Operating profit percentage 3.50 11.0/0 Other interest receivable and similar income Profit before taxation 11,308 37.453 Page 14
Monkstown Boxing Club Company limited by guarantee Detai18d income statement (contlnued) Year ended 28th February 2023 2023 2022 Overheads Administrative expenses Wages and salaries Youth mentoring Water rates (187,062) {28,351) (168) {5,152) (4,375) (6,156) (152,8321 (29,883) (109) {1,335) (19,780) (1,476) Insurance Equipment Lighting Heating Repairs and maintenance (3,340) (2,262) (1,837) (3,576) (2,167) (927) (3,905) Printing, postage and stationery ITIComms (3.492) (15,499) (1,046) Travel and subsistence Accountancy Bank charges Misc Expenses (1,149) (178) (2,233) (150) (202) (5,204) (1,350) (46,706) (17,164) Consultancy EvenUYouthlCompetition expenses Capital project Covid Response {54,052) (8,793) {308,834) (303,077) Page 15