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Groundwork Northern Ireland is a registered charity and company limited by guarantee.
Financial Report for 2009/10
Groundwork Northern Ireland’s total income for the year 2009/2010 was £2.2 million, representing a slight increase on the previous year. After deducting the cost of generating funds and governance costs, income available for charitable activities increased from £1.7 million in 2008/2009 to £1.8 million.
Total expenditure rose from £1.8 million in 2008/09 to £2 million in 2009/10. This represented an increase in programme expenditure of 10%, while the cost of generating funds fell from 21% of total expenditure in 2008/09 to 20% in 2009/10.
The Trust’s unrestricted reserve carried forward was £280,392, which represents 18 weeks of annual unrestricted expenditure. This reserve provides a buffer to absorb short-term delays in programme funding, finances working capital needs and provides funding to cover any unforeseen downturn in activity.
Restricted reserves carried forward were £1.6 million. These represent funding that can only be used in accordance with the sponsor’s funding agreement for programmes of work and therefore do not form part of the unrestricted reserve that is under the control of the Trust’s Board.
Income £2,233,432 Expenditure £2,011,985
Local Government 9% Charitable activities 79%
Local Authorities 13% Cost of generating funds 20%
Public Agencies 17% Governance costs 1%
European Union 15%
Private Sector 41% (73% from Landfill Tax)
National Lottery 3%
Other 2%
The above summary financial information has been obtained from the Trust’s full audited financial statements for the year ended 31 March 2010. A copy of which can be obtained from the Company Secretary, Groundwork Northern Ireland, 63-75 Duncairn Gardens, Belfast, BT15 2GB or by emailing info@groundworkni.co.uk
