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COMPANY REGISTRATION NUMBER: NI063330
CHARITY REGISTRATION NUMBER: NIC 102975
Belfast Orangefest
Company Limited by Guarantee
Unaudited Financial Statements
29 February 2024
Belfast Orangefest
Company Limited by Guarantee
Financial Statements
Year ended 29 February 2024
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
4
Statement of financial activities (including income and expenditure account)
6
Statement of financial position
7
Notes to the financial statements
8
Belfast Orangefest
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 29 February 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 29 February 2024 .
Reference and administrative details
Registered charity name
Belfast Orangefest
Charity registration number
NIC 102975
Company registration number
NI063330
Principal office and registered
7 Brookmount Street
office
Belfast
BT13 3AP
The trustees
Mr Mervyn Bishop
Mr Spencer Beattie
Mr Wilson Finlay
Rev Mervyn Gibson
Dr James Laird
Mr William Hughes
Mr Raymond Spiers
Company secretary
Dr James Laird
Independent examiner
Johnston Graham Limited
216/218 Holywood Road
Belfast
BT4 1PD
Structure, governance and management
Governing Document
The organisation is a company limited by guarantee, incorporated on the 1st February 2007 and awarded charitable status on that same date. This has since been reaffirmed by the Charity Commission for Northern Ireland on 25th June 2015 (Charity Registration Number NIC 102975). The company was established under a Memorandum of Association and is governed under its Constitution.
Appointment of Management Committee
The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles. Under the requirements of the Constitution the members of the Board of Directors are elected to serve for a period of one year after which they must be re-elected at the next Annual General Meeting. The traditional skills of management and company related practical skills are well represented on the Board of Directors.
Risk Management
The Board of Directors has conducted a review of any perceived major risks to which the charity may be exposed. Systems or procedures have been established to mitigate the risks the charity may face as appropriate. Procedures are in place to ensure compliance with the health and safety of staff, volunteers and visitors to the office any events that the company may organise. These procedures are reviewed periodically to ensure they continue to meet the company needs.
Organisational Structure
Belfast Orangefest has a Board of Directors of 7 members and an Advisory / Management Committee of 14 members who meet on a monthly basis and are responsible for the strategic direction and policy of the company. There is also a Director of Development who is in attendance but does not qualify for voting rights at these meetings.
A procedure of delegation is employed by the Management and Advisory Committee to the Director of Development who is charged with the day to day responsibilities of the company and has the operational management responsibility for the adherence to good governance and working practices.
Objectives and activities
The company's objectives and principal activities are to:
- Promote the Belfast 12th Celebrations in a manner that is increasingly acceptable and welcoming to all
- Promote all Orange events in Belfast in a manner that allows all to attend and this is bring achieved through our theme "Education through Celebration"
The main objectives and activities for the year continue to focus on the theme "Education through Celebration" in a wide variety of events such as:
- Launch of the Belfast 12th: Band performances, Highland Dancers, Lambeg Drumming, Poetry
- The 12th Celebrations: bands, parades, historical re-enactments, children's entertainment
- Art, Poetry, Photographic and short story competitions for Primary, Secondary and young adults
- Partnership with Belfast City Centre Management and its wider network to show that Belfast City Centre is open and welcoming on 12th July for everyone
- Promote the 12th July as a fully Family Friendly through separate projects event striving to negate any possible anti-social behaviour from any quarter
- Promote the 12th July as a Tourist attraction and increase footfall in Belfast City Centre
- Actively continue in the process to attempt to get Ethnic Minorities to participate in our information programme
Achievements and performance
The achievements and performance to date for this reporting year continue to be encouraging and in the coming years the company are striving to progress both within and without its own community and active work is still ongoing to encourage individuals and groups from other communities and traditions with a renewed focus on tourism to come and join with us, and this is beginning to show some success.
Financial review
Against the backdrop of ever decreasing limited resources and continuing insecurity over funding it remains difficult to plan or develop our services, nevertheless the company continues to employ a Director of Development who is vital to the overall success of the project, however, sadly this appointment end on 31st of March 2024 as the DFC has terminated the Funding for 2024 and probably beyond.
PRINCIPAL FUNDING SCHEMES
Aside from the Department for Communities (Belfast Regeneration Office) who funds the Director of Development post and project but not generally programmed work. The company remains hopeful for more successful funding grant applications in the coming years albeit we are skeptical for 2023/2024 given the lack of an Assembly and therefore no Budgetary powers available.
Plans for future periods
The company plans to continue and expand upon the activities outlined above in the coming years but understands that this is always dependent upon successful funding and any internal finances available.
RESPONSIBILITIES OF THE BOARD OF DIRECTORS
The Board are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity/company and which will enable them to ensure that the financial statements comply with the Companies Act 2006. The Board are also responsible for safeguarding the assets of the charity/company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
CONCLUSION
The Board of Directors are confident that Belfast Orangefest Limited is fulfilling its commitment to the Department and are pleased to report yet another successful Funding Period to which Orangefest are on target to complete all its outputs in their entirety, and has decided to place the company in hibernation whilst we continue to seek funding.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 9 August 2024 and signed on behalf of the board of trustees by:
Mr Mervyn Bishop
Rev Mervyn Gibson
Trustee
Trustee
Belfast Orangefest
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Belfast Orangefest
Year ended 29 February 2024
I report on the financial statements for the year ended 29 February 2024, which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes.
Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 65 of the Charities Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and
- to state whether particular matters have come to my attention.
Basis of independent examiner's report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The 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 the trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1.
That accounting records were not kept in accordance with section 386 of the Companies Act 2006
2.
That the accounts do not accord with those accounting records
3.
That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland.
4.
That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
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:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I 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 Northern Ireland, I have found no matters that require drawing to your attention.
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
David Knox for and on behalf of
Johnston Graham Limited
Chartered Accountants
Independent Examiner
216/218 Holywood Road Belfast BT4 1PD
9 August 2024
Belfast Orangefest
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 29 February 2024
2024
2023
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Charitable activities
5
4,278
4,278
46,676
Other income
6
6,116
----
-------
-------
--------
Total income
4,278
4,278
52,792
----
-------
-------
--------
Expenditure
Expenditure on charitable activities
7,8
15,614
15,614
46,921
----
--------
--------
--------
Total expenditure
15,614
15,614
46,921
----
--------
--------
--------
----
--------
--------
--------
Net (expenditure)/income
( 11,336)
( 11,336)
5,871
----
--------
--------
--------
Transfers between funds
(11,336)
11,336
--------
--------
--------
--------
Net movement in funds
( 11,336)
( 11,336)
5,871
Reconciliation of funds
Total funds brought forward
11,936
11,936
6,065
--------
--------
--------
--------
Total funds carried forward
600
600
11,936
--------
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Belfast Orangefest
Company Limited by Guarantee
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Current assets
Debtors
11
5,887
Cash at bank and in hand
1,036
7,378
-------
--------
1,036
13,265
Creditors: amounts falling due within one year
12
436
1,329
-------
--------
Net current assets
600
11,936
----
--------
Total assets less current liabilities
600
11,936
----
--------
Net assets
600
11,936
----
--------
Funds of the charity
Unrestricted funds
600
11,936
----
--------
Total charity funds
13
600
11,936
----
--------
For the year ending 29 February 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors 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 subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 9 August 2024 , and are signed on behalf of the board by:
Mr Mervyn Bishop
Rev Mervyn Gibson
Trustee
Trustee
Belfast Orangefest
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 7 Brookmount Street, Belfast, BT13 3AP.
2. 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 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. 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 statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability 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, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds 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. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
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 associated with the 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 entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement 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 derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised 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 recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, 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 activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure 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 reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares 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 income and expenditure. All other such investments are subsequently measured at cost less impairment. 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 the statement of financial activities, 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 impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity 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 carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The company is limited by guarantee and has no authorised or issued share capital. The company has charitable status accepted by the Charity Commission for Northern Ireland under reference NIC 102975.
5. Charitable activities
Restricted Funds
Total Funds 2024
Restricted Funds
Total Funds 2023
£
£
£
£
Department for Social Development
4,278
4,278
40,656
40,656
Awards for All
6,020
6,020
-------
-------
--------
--------
4,278
4,278
46,676
46,676
-------
-------
--------
--------
6. Other income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Other income
6,116
6,116
----
----
-------
-------
7. Expenditure on charitable activities by fund type
Restricted Funds
Total Funds 2024
Restricted Funds
Total Funds 2023
£
£
£
£
Department for Social Development
15,614
15,614
40,901
40,901
Awards for all
6,020
6,020
--------
--------
--------
--------
15,614
15,614
46,921
46,921
--------
--------
--------
--------
8. Expenditure on charitable activities by activity type
Grant funding of activities
Total funds 2024
Total fund 2023
£
£
£
Department for Social Development
15,614
15,614
40,901
Awards for all
6,020
--------
--------
--------
15,614
15,614
46,921
--------
--------
--------
9. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024
2023
£
£
Wages and salaries
11,000
33,000
--------
--------
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024 2023
£ £
Wages and salaries 11,000 33,000
The average head count of employees during the year was 1 (2023: 1 ). The average number of full-time equivalent employees during the year is analysed as follows:
2024
2023
No.
No.
Management staff
1
1
----
----
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
10. Trustee remuneration and expenses
No trustees received remuneration or other benefits through employment with the charity.
11. Debtors
2024
2023
£
£
Other debtors
5,887
----
-------
12. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
231
1,127
Deferred income
205
202
----
-------
436
1,329
----
-------
13. Analysis of charitable funds
Unrestricted funds
At 1 March 2023
Income
Expenditure
Transfers
At 29 February 2024
£
£
£
£
£
General funds
5,089
(11,336)
(6,247)
Unrestricted funds
6,847
6,847
--------
----
----
--------
-------
11,936
(11,336)
600
--------
----
----
--------
-------
At 1 March 2022
Income
Expenditure
Transfers
At 28 February 2023
£
£
£
£
£
General funds
4,181
6,116
(245)
10,052
Unrestricted funds
1,884
1,884
-------
-------
----
----
--------
6,065
6,116
(245)
11,936
-------
-------
----
----
--------
Restricted funds
At 1 March 2023
Income
Expenditure
Transfers
At 29 February 2024
£
£
£
£
£
Department of Social Development
11,336
11,336
Department of Social Development
4,278
(15,614)
(11,336)
Battle with the Bug 2020
----
-------
--------
--------
--------
4,278
(15,614)
11,336
----
-------
--------
--------
--------
At 1 March 2022
Income
Expenditure
Transfers
At 28 February 2023
£
£
£
£
£
Department of Social Development
(1)
(1)
Department of Social Development
40,656
(40,900)
245
1
Battle with the Bug 2020
6,020
(6,020)
----
--------
--------
----
----
46,676
(46,921)
245
----
--------
--------
----
----
14. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Current assets
1,036
1,036
Creditors less than 1 year
(436)
(436)
-------
-------
Net assets
600
600
-------
-------
Unrestricted Funds
Total Funds 2023
£
£
Current assets
13,265
13,265
Creditors less than 1 year
(1,329)
(1,329)
--------
--------
Net assets
11,936
11,936
--------
--------