COMPANY REGISTRATION NUMBER: N1655540 CHARITY REGISTRATION NUMBER: NIC108664 Our Social Space Ltd Company Limited by Guarantee Financlal Ststements 30 September 2024 Our Social Space Ltd Company Limited by Guarantee Financial Statements Year ended 30 September 2024 Page Trustees. annual report (incorporating the directorfs report) Independent examinerfs report to the trustees Statement of financial activibes (Including In￿Me and expenditure account) Statement of financial position Notes to the financial statements 10 Tru5tees'Annuol Report & Finonciol Stotement5 Page2of 16 Our Social Space Ltd Company Limited by Guarantee Statement of Financial Activities Year ended 30 September 2024 2024 Restricted funds 2023 Total funds Note Unrestrlcted funds Totsl funds Income and endowments Donation and legacies Charitable activities 7.250 90 7,250 3.390 10,726 1,025 3.300 Total Income 7,340 3,300 10,640 11,751 Expenditure Expenditure on tharitable activities 7.752 600 8.352 11,903 Total Expenditure 7.752 600 8.352 11,903 Net In¢ome and nel movement In funds 412 2,700 2,288 -152 Reconclllatlon of funds Total fund5 brought forward 663 Total funds carrièd forward 99 2700 2,799 511 Tho notes on pag8s 10 to 15 forni part of thoso financlal statements. Trustees'Annual Report & Financiol Stotements Poge 9of 16 Our Social Space Ltd Company Limited by Guarantee Balance Sheet Year ended 30 September 2024 2024 2023 Note Current Asset Cash at bank and in hand Debtors 2.799 Nll 511 Nll 11 Creditors: amount falling due wthin one year 12 (Nll (390) Net Current Assets 2.799 121 Net Asset 2.799 Funds of the charlty Restricted funds Unrestricted fvnds Total charity funds 2,700 99 2.799 121 121 In approving these financial statements as directors of the company we hereby confim: The company was ent￿ed to exemption Irom audit under section 477 of th8 Companies Act 2006 relating lo small companies. The members have not required the company to obLqin an audit in accordance with section 476 of the Companies Act 2006. The Board of Trustees ackn0￿6dge their responsibilities for complying with the requiremenls of the Companies Act 2006 with respect to accounting records and preparation of the a¢￿unIs. These accounts have been prepared In accordance wlth the provlslons 8ppllcabl8 to small companies subject to the small companies regime and in accordance with SORP 102. These financial stalements were approved by the board of trustees and aulhorised for issues on 20 Jun8 2024, and re signed on behalf ol the board by: r R Turner Trustee s H McKenna Trustee The notes on pages 10 to 15 fonn part of tho80 flnanclal statoments. Trustees. Annuol Report & Finonciol Stotements Page Ioof 16 Our Social Space Ltd Company Limited by Guarantee Notes to the financial statements Year ended 30 September 2024 General Infomiation The company is a prlvate company Ilmiied by guarantee, reglstefed in Northem Ireland. The address of the registered office is 74 Sunnyside Street, Belfast, BT7 3EF. statement of compliance The financial stalements have been prepared in compliance with FRS 102, 'The Finan¢ial R8POrting Stsndard applicable in the UK and Republic of Ireland,. the Stslement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Stsndard appliable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS1021) and the Companies Act 2006. Accountlng pollcles Basis of preparation The financial statements have been prepared on the historical cost basis. as m￿￿tfIed by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling. which is the functional Gurrency of the entity. Golng concern There are no material uncertaintias about the charivs abilty to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. induding expectations of future events that are believed to be reasonable under the arcumstances. Fund a¢¢ountlng Unrestricted funds are available for use at the discretion of the trustees to further any of thè Charity's purposes. Designated fiJnd5 are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjeded to restrictions on their expenditure declared by the donor or through the temis of an appeal, and fall into one of two sub-classes: restn'cted income funds or endowment funds. Incomlng resourc8S All incoming resources are included in the statement of financial activities when enlitlement has passed to the charity,. it is probable that the econom￿ benefits associaled with the transaclion will flow to the charity and the amount Can be reliably measured. The following specific policies are applied to particular categories of inwme.. income from donations or grants is recognised when there is 8vidence of entiuement to the gift. receipt is probable and its amounl can be measured reliably. rrustee5'Annuol Report & Finonciol Stotements Poge 11 of 16 Our Social Space Ltd Company Limited by Guaranteo Notes to the financlal ststements (conlinued) Year ended 30 September 2024 3. Accountlng poll¢le$ (contlnued) Incomlng rosources (¢ontlnued) legacy inwme is recognis8d when receipt is probable and entillement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is denved from the cost to the donor or the estimated resale value. Donated facÉlttses and ser4ices are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribulion of general volunteers. income from contracts for the supply of ser4ices is recognised with the delivery of the contracted service. This is dassified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed rf unspent, in which case it may be regarded as restricted. Rosour¢•$ oxpended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fulty recovered. and is classified under headings of the slatement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising aciivities, events. non- charitable trading aclivtties, and the sale of donated goods. expendrtur8 on charilable actrvrties indudes all costs incurred by a chanty in undertaking actsvities that furth8r Its chantable airns for the benefit of its beneficiaries. including those SUPPOrt costs and costs relating to the govemance of the charity apportioned lo charitable activities. other expenditure indudes all expenditure that is neither related to raising funds lor the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflectlng the use of the resource. Direct costs attributsble lo a single activity are allocated direclly to that aclivity. Shared costs are apportioned be*￿een the acts'vrtias they contribute lo on a reasonable. luslifiable and conslstent basis. Flnanclal In•trumènts A financial asset or a financial liability is recognlsed only when the charity becomes a party to the contraGtual provislons of the Instrument. Basic financial instruments are initially recognlsed at the amount receivable or payable including any related tran58clton costs. Current assets and current liabllille8 are subsequently measured at the cash or olher conslderation exp8Cted to be paid or received arKJ not dlscounted. Debt instruments are subsequently measured at amortlsed cosl. Where investments in shares are publicly traded or thelr fair value can othe￿iSe be measured reliably. the investment is subsequently measured al fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at ¢ost less impainnent. Trustees, Annual Report & Finonciol S¢otements Poge 12of 16 Our Social Space Ltd Company Limited by Guarantee Notes to the financial statements (continued) Year ended 30 September 2024 3. Accounting pollcies (continued) Flnan¢ial Instruments (continued) Other financial instruments. induding derivatives. are initially recognised at fair value, unless paymenl for an asset is deferred beyond nomial 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 diswunted at a market rate of interest for a similar debt instrument. Other finanoal instrurnents are subsequently measured at fair value. with any changes recognised in the statement of financial activities. with the exception of hedging instruments in a designated hedging relationship. Flnancial assets that are measured at cost or amortised cost are reviewed for objective evidenc8 of impaiment at the end of each reporting date. If there is objective evidence of impaiment, an impaiment loss is recognised under the appropriate heading in the ststement of financial activities in which the initial gain was recognised. For all equty instruments regardless of significance. and other financial assets that are individually significant. these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately. to the extent that the reversal does not result in a carying amount of the financial assel that exceeds what the carying amount would have been had the impaimient not previously been recognised. Defined contr6butlon plans Contributions to defined contn'bution plans are recognised as an expense in the period in which the reialed service is provided. Prepaid contributions are recognised as an asset 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 settled wholly within 12 months of the end of the reporting date in which the employees render the related service. the liability is measured on a (liscounled present valua basis. The unwinding of the discount is recc*Jnised as an expense in the period in which it arises. Llmited by guarante8 The company is an incorporated company limited by guarantee with charitable status. The liability of the members is limited to £1 per member. Trustees'Annuol Report & Finonciol Statement5 Poge 13of16 Our Social Space Ltd Company Limited by Guarantee Notes to the financlal statements (contlnued) Year ended 30 September 2024 Donatlons & Logacles Unrestrlcted Funds Restricted Funds Total Funds 2024 DonatSons Donations 7.250 7,250 Grant Incorne Halrfax Foundats'on QUB Film Hub Nl 3,300 3.300 Unrestricted Funds Restricted Funds Totsl Funds 2023 Donatlons Donats'ons 10,726 10.726 Grant Income Halifax Foundation QUB Film Hub Nl 500 525 525 11.751 11.751 Charltable actlvltles Unr•¥trlct•d Funds R•strlcted Funds Total Funds 2024 90 Services 90 90 Unrestricted Funds Restricled Funds Tolal Funds 2023 Servlces Trustees, Annuol Report & Finonciol Stotements Poge 14 of 16 Our Social Space Ltd Company Limited by Guarantee Notes to the financlal statements (continued) Year ended 30 September 2024 Expendltures Unrestrlcted funds Restrlcted funds Total funds 2024 Salary Teacher Fees Room Hire Equipment Hire Llcences Membership Insurance Websilelmarketing Other 3.107 1,780 1.360 3.107 2.140 1.600 360 240 95 1.008 367 95 1.008 367 7,752 600 8,352 Unrestricted funds Restricted funds Total funds 2023 Salary Teacher Fees Room Hlre Equipment Hire Licences Membership Insurance Websilelmafketing Olher 5,261 2.675 2.325 25 181 95 976 253 13 5,360 2.675 2,325 25 181 95 976 253 13 99 11,903 Taxatlon The charity is 8 registered chanty and is therelore exempt from laxath)n. Number of employee• The average number of employees durlng the year were as follows: Penod No. Period No. 2024 2023 No employee received employee benefits of more than £60,000 during Ihe year (2024.. Nil). 10 Trusteo remunofatlons and expenses The Trustees re￿IVed remuneratlon lotalllng £0 during ihe year. The Truslees had no expenses reimbursed in the year. Trustee5'Annuol Report & Finonciol Stotements Page 15of 16 Our Social Space Ltd Company Limited by Guarantee Notes to the financial statements (contlnued) Year ended 30 September 2024 11 Debtors 12 Creditors: amount falling due within one year 2024 2023 Trade credttors 390 13 Pension and other post retlrement benefrts Deflned contrlbutlon plans The amount recognised in income or expenditure as an expense in ￿lation to defined contribution plans was £Nil. 14 Future flnanclal commltments The company is currenliy in a rent-free period (to be reviewed March 2025). Annual rent will be £7.800. Trustees'Annuol Report & Financiul Stotements Puge 16of 16