COMPANY REGISTRATION NUMBER: N1655540 CHARrrY REGISTRATION NUMBER: NIC108664 Our Social Space Ltd Company Limited by Guarantee Flnanclal Statements 31 March 2025
Our Social Space Ltd Company Limited by Guarantee Statement of Financial Activities Year ended 31 March 2025 2025 Restricted funds 2024 Total funds Note Unrestricted funds Total funds Income and endowments Donation and legaoes Chantable activrties 7.308 7.308 60 7,250 3.390 Total Income 7.368 7,368 10.640 Expendlture Expenditure on chantable acts'vities 5.875 1.710 7.585 8,352 Total Expéndlturo 5.875 1.710 7,585 11,903 Net Income and net movement In funds 1,493 1.710 17 2,288 Reconclllatlon ol fund• Total funds broughl forward 2700 2.799 511 Total funds Garrlod lorward 1.592 2,582 2.799 Tho notos on pag?s 11 to 16 fonn part ol these flnanclal statements. Trusfee5' Annuol Report & Finonciol Stotemen¢5 Poge9of 16
Our Social Space Ltd Company Llmlted by Guarantee Balance Sheet Year ended 31 March 2025 2025 2024 Not• Current Asset Cash al bank and In hand Debtors 2.782 2799 11 Creditors.. amount falling due *ithln one year 12 200 INII) Net Current Assets Net Asset Funds of th• charity Restncted funds 2,700 99 Unresth'cted funds 1.592 Total charlty funds 2,582 2,799 In approving Ihese financial stal8ments as directors of the company we hereby confimi.. The jMpanY was enkntled lo exemptK)n from audit under seth'on 477 of the Companies Act 2006 relaling to Small companies. The members have not roquired the company io obtain an audil in accordance with section 476 of Ihe Companies Act 2CKI6. The Board of Trustees acknovAedge thelr responsibllilles lor complying wrlh the requirements of the Companios Acl 2006 with rospect to accounling records and preparallon of the accounts. These accounts have been prepared in accordance with the provisions appllcable to small companies subject lo the small companies regim8 and In accordance wilh SORP 102. These financlal stslement5 were approved by the board ol truslees and authorlsed lor Issues on 11 Seplember 2025, and are slgned on behalf of the board by. r R TLJrner Trustee Ms H McKenna Trustee The notos on pages 11 to 16 fomi part of these flnanclal statements. Trustees, Annuol Report & Finonciol 5totement5 Page Ioof 16
Our Social Space Ltd Company Limlted by Guarantee Notes to the financial statements Year ended 31 March 2025 General Infonnation The company Is a prtvate company Ilmlted by guarantee, reglslered In Northem Ireland. The address of the registered office is 74 Sunnyside Street, 88lfast. BT7 3EF. Statemènt of Compllance The financial statements have been prepared in compliance with FRS 102. The Financial Reporting Standard applicable in the UK and Republic of Ireland., the Statement of Recommended Practice applicable to Chartties preparing their accounts in accordance with the Financial Reporting Standard appliable in the UK and Republic of Ireland {FRS 102) (Charitles SORP (FRS102)) and the Companles Act 2006. Accountlng pollcles Basls ol pr•paratlon The financsal statements have been prepared on the hislorical cost basis. as modified by the revalUatn of certain financial assets and liabilities and investment properties measured at fair value Ihrough income or expenditure. The financial ststements are prepared in sterling. which is the functional currency of the entity. Golng concern There are no material unc8rt2ints.es 8b)ut the charitys ability to contlnue. Judgements and koy sourc•s of •¥tlmallon uncertalnty The preparat*M of the finandal stalements requires management to make judgements, estlmates and assumpbons that affect the amounts reported. These estimates and iudgemenls are continually reviewed and are based on experience and other factors, including expectslions of future events that are believed to be reasonable under the clrcumstances. Fund accountjng Unfestrithd funds are available for use at the discretlon of Ihe trust888 to lurth8r any of the charivs purposes. Deslgnaied lund8 are unreslrtcled fvnd8 earmarked by the Injslees for partkular future project or commitment. Restricted funds afe Sublecied to rostricb'ons on thelr expenditure dedared by Ihe donor or through the lerm8 of an appeal. and fall Inlo one ol hvo 8ub<lasses'. restricted Income funds or endowment lunds. Incomlng r•sourc•s AJI Incorning res¢)urces are Included In the stslemenl ol financl81 activities when entittement has passed to the Charity., rt is probable that the economic benefits assc¢laled with the transaction will flow lo Ihe charty and Ihe amounl be rellabty measured. The followlng speclllc policles are applied lo particular categories ol income.. income from donalions or grants Is recognised when there is evidence of entitlement to the gift. receipi Is probable and its amount can b8 measured reliabty. rru5tees' Annuol Report & Finonciol Stotements Poge 110116
Our Soclal Space Ltd Company Llmited by Guarantee Notes to the financial stalements (contlnued) Year ended 31 March 2025 3. Accounting pollclos (continued) InGomlng rosour¢es (contlnued) legacy income is recognised vthen receipt is probablo and entitlement is estsblished. 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 derived from the $t to the donor or the esbmaled resale value. Donated facilities and services are recognised in the a¢¢ounts when receNed 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 recognised viith the delivery of the contracted service. This is classified as unrestn'cted funds unless there is a ntractUal requirement for it to te spent on a particular purpose and turned rf unspent, in which case it may be regarded as restncted. Resources •xpanded Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure indudes any VAT which Gannol be fully recovered. and is classified under headings of the statement of financial activities to which it relates: exp8ndrture on raising lunds inc4udes the costs of all fundraising activities. 6venls. non-chantable trading athvib'es. and the sale of donated gooLIs. expendrture on charitable activities Indudes all costs incurrod by a charity in undertaking activities that further rts charitable alms for the bonefil of its bOnerarles. including those support costs and costs relating to the govemance of the charity aPpo.0ned to charilable activities. other experKliture Includes all expendrture that is neilher related to raising funds for the charity nor part of its expenditure on charitable aclivibes. All costs are allocated lo expenditure categorles reflecting the us8 ol the resource. Direct costs attributable to a Single athvity are all¢xaled directly lo that aclivity. Shared costs are apportioned belween the avItIeS they contribute to on a reasonable, justifiable and consislont basis. Flnanclal Instrum•nt• A financlal asset or a finan¢lal liabllily Is reco9nlsed only when the charity become8 a party to the rL)ntradual provislon8 ol the InstrumenL Baslc finanoal instruments are inllially fecffjnlsed al the arnounl recelvable or payable including any related transaction cosi8. Current a88et8 and rren1 Ilabilltl88 are subsequently measured al the cash or other considerallon expocted to be paid or raceived arK1 not discounted. Debt instruments are subsequently measured at 8mortis8d cost. Where Investments In shares are publldy traded or thelr lalr value olhetwise be measured reliably. Ihe investment is subsequently measured al fair value wilh chang85 in fair value recognised in income and expendilure. Al oiher such investments are subsequenuy measured at cosl less impairment. Tru5tees' Annuol Report & Finonclal Stotements Page 12 of 16
Our Social Space Ltd Company Limited by Guarantee Notes to the financial statements (contlnued) Year ended 31 March 2025 3. Accounting pollcies (continued) Flnancial instruments (continued) Other financial instnjments, including denvatives. are initially recognis8d at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of inlerest that is not a market rate. in which case the asset is measured at the present value of the future payments discounted al a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement offinancial actsvibes. Vth the excepbon of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidenc8 of impairment. an impairmenl k)ss is reco3nised under the appropnate heading in the ststement of financial activities in which the initial gain was recognised. For all equty instruments regardless of signffjicance. and other financial assets that are indNidually significant, these are assessed individually for impairment. Other financial assets are eilher assessed individually or grouped on the basis of similar credit risk characterisbcs. Any VersalS of impairment are recognised immediately. lo the exlent that the reversal does not resull In a carying amount of the finanual asset that exceeds what the carying amount would have been had the impairm8nt not Pf8VK)usly been reccgnised. D•fin•d contrlbutlon plan• Contributions to defined contnbution plans are recognised as an expense In the perlod In whlch the related service is provided. Pfepaid contributions are recognised as an asset lo the extent that the prepayment will lead lo a Teductson in luture payments or a cash refijnd. When contributs'ons are nol expeded lo be settled wholly within 12 Months of the end of the rep)rting date in whlch the employees render the related servlce, the Ilabllity is measured on a dlscounled presenl value basi6. The unwinding ol the disc¢yJnl is recognised Bs an expense in Ihe penod in which il arises. Umltsd by guar•nte• The company is an Incorporated company lirniled by guaranlee wilh charitabla stalus. The Ilability of the members Is limlted to £1 per member. Trustees. Annual Report & Finonciol Slofements Page 13of 16
Our Social Space Ltd Company Limiled by Guarantee Notes to the financial statements (contlnued) Year ended 31 March 2025 Donatlons and legacies Unrestrlcted Fund$ R•strlct•d Funds Total Funds 2025 Donatlons Donabor 7,308 7.308 Grant Income Halrfax Foundation Unrestrfcted Funds Restricted Funds Total Funds 2024 Donatlons DonatnS 7,250 7.250 Grant Income Halrfax Foundabon 3.300 3,300 7.250 3.300 10.550 Charftabl• a¢tlvltl•• Unr•strlct•d Funds R•strlct•d Fund• Tolal Fund• 2025 Setvic 60 60 Unr6slrlcted Funds Restricted Funds Total Funds 2024 Services Tfustees'Annual Report & Finonciol Siotements Poge 14of 16
Our Social Space Ltd Company Limited by Guarantee Notes to the financial statéments (contlnued) Year ended 31 March 2025 Expendlture Unr•$trlct•d funds Restrlcted funds Total funds 2025 Salary Teacher Fees Rwm Hire Audit Fees Memberships Insurance 8ookkeeping Websitelmarketing Raising Funds Other 1.930 1.050 1.930 1.590 1.170 200 267 509 21 206 366 1.326 540 1.170 200 267 21 206 366 1.326 5.875 1.710 7,585 Unrestricted Fund3 Restricted Funds Total Funds 2024 Salary Teacher Fees Room Hire Audit F8es Memberships Insurance Bookkeeplng Websltelmarketlng Raising Funds Olher 3.107 1,780 1,360 3.107 2,140 360 240 95 1.008 95 1.008 367 367 Total Exp•ndltur• 600 8,352 Taxatlon The charity is a registered charity and18 therefore exempi Irom iaxallon. Numb•r of •mploy••• The average number ol employees durlng Ihe year woro as lollows: pOnj No. Penod No. 2025 2024 No employee recelvod employee benefils ol more than £60,000 durln9 the year (2025.. Nil). Trustee5' Annuol Report & Finonclol Stotements Poge15of 16
10 Trustee remunerations and expenses The Trustees r8¢eived remunoration lotalling £0 during Ihe year. The Trustees had no expenses reimbursed in the year. 11 Dèbtors 12 Credltors: amount falling due wlthln one year 2025 2024 Trade creditors 200 13 Penslon and other post retlrement beneffts Defined contributlon plans The amount recognised in income or expenditure as an expense in relabon lo defined contribution plans was £Nil. 14 Future flnanclal commltments The company is currently in a fent-free period (io be reviewed Apnl 2025). nual rent wiu be £7,000. Trustees, Anntsol Report & Finonclol Siolemenls Po9e 1601 16