| Pages | |||
|---|---|---|---|
| Trustees' Annual Report |
2to 3 | ||
| Independent Examiner's |
Report | ||
| Statement of Financial Activities | |||
| Summary Income and Expenditure |
Account | ||
| Balance Sheet | |||
| Statement ofCash flows | |||
| Notes to the Accounts | 9to 17 | ||
| Detailed Statement of Financial Activities | 18to 19 |
| for the period ended 30Sept | ember 2023 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| 2023 | 2023 | 2022 | ||
| Notes | ||||
| Income and endowments | ||||
| from: | ||||
| Charitable activities |
157,236 | 157,236 | 269,444 | |
| Other trading activities |
38,582 | 38,582 | 17,877 | |
| Total | 195,818 | 195,818 | 287,321 | |
| Expenditure on: |
||||
| Raising funds | 3,006 | 3,006 | 4,696 | |
| Charitable activities |
224,797 | 224,797 | 137,083 | |
| Other | 92,941 | 92,941 | 49,351 | |
| Total | 320,744 | 320,744 | 191,130 | |
| Net gains on investments | ||||
| Net (expenditure)/income | (124,926) | (124,926) | 96,191 | |
| Transfers between funds |
||||
| Net (expenditure)/income before other gains/(losses) |
(124,926) | (124,926) | 96,191 | |
| Other gains and losses | ||||
| Net movement in funds |
(124,926) | (124,926) | 96,191 | |
| Reconciliation offunds: |
||||
| Total funds brought forward |
455,983 | 455,983 | 359,791 | |
| Total funds carried forward | 331,057 | 331,057 | 455,982 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| f | E | ||||
| Income | 195,818 | 287,321 | |||
| Gross income | for | the pedod | 195,818 | 287,321 | |
| Expenditure | 320,295 | 190,757 | |||
| Depreciation | and | charges for | |||
| impairment offixed assets |
449 | 373 | |||
| Total expenditure | for the | period | 320,744 | 191,130 | |
| Net (expenditure)/income | before tax | ||||
| for the period | (124,926) | 96,191 | |||
| Net (expenditure period |
)/income for the | (124,926) | 96,191 |
| Company No. |
05047890 | 05047890 | 05047890 | Notes | 2023 | 2022 |
|---|---|---|---|---|---|---|
| E | ||||||
| Fixed assets | ||||||
| Tangible assets | 11 | 263,488 | 262,576 | |||
| 263,488 | 262,576 | |||||
| Current assets | ||||||
| Debtors | 12 | 4,158 | 552 | |||
| Cash at bank | and | in hand | 66,208 | 198,460 | ||
| 70,366 | 199,012 | |||||
| Creditors: Amount | falling due within one year | 13 | (2,797) | (5,605) | ||
| Net current assets | 67,569 | 193,407 | ||||
| Total assets less | current liabilities | 331,057 | 455,983 | |||
| Net assets excluding | pension asset or liability | 331,057 | 455,983 | |||
| Tota I net assets | 331,057 | 455,983 | ||||
| The funds ofthe | charity | |||||
| Restricted funds | 14 | |||||
| Unrestricted funds |
14 | |||||
| Designated funds |
331,057 | 455,983 | ||||
| 331,057 | 455,983 | |||||
| Reserves | 14 | |||||
| Total funds | 331,057 | 455,983 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| E | ||||
| Cash flows from operating | activities | |||
| Net (expenditure)/income | per Statement | of Financial Activities | (124,926) | 96,191 |
| Adjustments for: |
||||
| Depreciation of property, plant and equipment |
449 | 373 | ||
| Increase in trade and other receivables |
(3,606) | (552) | ||
| (Decrease)/Increase in trade and other |
payables | (1,863) | 2,160 | |
| Net cash (used in)/provided | by operating | activities | (129,946) | 98,172 |
| Cash flows from investing | activities | |||
| Payments for property, | plant and equipment | (1,361) | ||
| Net cash used in investing | activities | (1,361) | ||
| Net cash from financing activities |
||||
| Net (decrease)/increase in |
cash and cash equivalents | (131,307) | 98,172 | |
| Cash and cash equivalents | at the beginning | ofthe period | 198,460 | |
| Cash and cash equivalents | at the end ofthe period | 67,153 | 98,172 | |
| Components ofcash and cash equivalents |
||||
| Cash and bank balances | 66,208 | 198,460 | ||
| 66,208 | 198,460 |
| Republic o | f Ireland (FRS 102)and the Companies Act 2006. |
f Ireland (FRS 102)and the Companies Act 2006. |
||||||
|---|---|---|---|---|---|---|---|---|
| Change in |
basis ofaccounting orto previous accounts |
|||||||
| There has | been no | change to the accounting policies (valuation rules and method of accounting) |
since | |||||
| last year and no changes have been made to accounts for previous years. | ||||||||
| Fund accounting | ||||||||
| Unrestricted funds |
These are available for use at the discretion ofthe trustees | in furtherance | of | the | ||||
| general objects ofthe charity. | ||||||||
| Designated | funds | These are unrestricted funds earmarked by the trustees |
for particular | purposes. | ||||
| Revaluation | funds | These are unrestricted funds which include a revaluation |
reserve representing | the | ||||
| restatement of investment assets at their market values. |
||||||||
| Restricted | funds | These are available for use subject to restrictions imposed |
by the donor or | through | ||||
| terms ofan appeal. | ||||||||
| Income | ||||||||
| Recognition of | Income is included in the Statement of Financial Activities |
(SoFA) when | the | charity | ||||
| income | becomes entitled to, and virtually certain to receive, the |
income and the amount | ||||||
| ofthe income can be measured with sufficient reliability. |
||||||||
| Income with related | Where income has related expenditure the income and |
related expenditure | is | |||||
| expenditure | reported gross in the SoFA. |
|||||||
| Donations | and | Voluntary income received by way ofgrants, donations and gifts is included |
in | the | ||||
| legacies | the SoFA when receivable and only when the Charity has |
unconditional | ||||||
| entitlement to the income. |
||||||||
| Tax reclaims on | Income from tax reclaims is included in the SoFA at the same time as the |
|||||||
| donations | and gifts | gift/donation to which it relates. |
||||||
| Donated services | These are only included in income (with an equivalent amount in expenditure) |
|||||||
| and facilities | where the benefit to the Charity is reasonably quantifiable, |
measurable | and | |||||
| material. | ||||||||
| Volunteer | help | The value ofany volunteer help received is not included |
in | the accounts. | ||||
| Investment | income | This is included in the accounts when receivable. |
||||||
| Gains/(losses) on |
This includes any gain or loss resulting from revaluing investments to market |
value | ||||||
| revaluation | offixed | at the end ofthe year. | ||||||
| assets | ||||||||
| Gains/(losses) on |
This includes any gain or loss on the sale of investments. |
|||||||
| investment | assets |
| Expenditure | Expenditure | ||||||
|---|---|---|---|---|---|---|---|
| Recognition | of | Expenditure is recognised on an accruals basis. Expenditure includes |
any VAT | ||||
| expenditure | which cannot be fully recovered, and | is reported as |
part ofthe expenditure to |
||||
| which it relates. |
|||||||
| Expenditure | on | These comprise the costs associated | with attracting | voluntary income, fundraising |
|||
| raising funds | trading costs and investment management costs. |
||||||
| Expenditure | on | These comprise the costs incurred by |
the Charity in |
the delivery ofits | activities | and | |
| charitable | activities | services in the furtherance of its objects, including the making ofgrants and |
|||||
| governance costs. |
|||||||
| Grants payable | All grant expenditure is accounted for on an actual |
paid basis plus an | accrual for | ||||
| grants that have been approved by the trustees at the end ofthe year but not |
yet | ||||||
| paid. | |||||||
| Governance | costs | These include those costs associated | with meeting | the constitutional | and statutory | ||
| requirements ofthe Charity, including |
any audit/independent examination fees, |
||||||
| costs linked to the strategic management ofthe Charity, together with a share |
of | ||||||
| other administration costs. |
|||||||
| Other expenditure | These are support costs not allocated | to a particular | activity. |
| 3 Statement of Financial |
Activities - prior year | ||
|---|---|---|---|
| Unrestricted | |||
| funds | Total funds | ||
| 2022 | 2022 | ||
| Income and endowments | from: | ||
| Charitable activities |
269,444 | 269,444 | |
| Other trading activities |
17,877 | 17,877 | |
| Total | 287,321 | 287,321 | |
| Expenditure on: |
|||
| Raising funds | 4,696 | 4,696 | |
| Charitable activities |
137,083 | 137,083 | |
| Other | 49,351 | 49,351 | |
| Total | 191,130 | 191,130 | |
| Net income | 96,191 | 96,191 | |
| Net income before other gains/(losses) |
96,191 | 96,191 | |
| Other gains and losses: | |||
| Net movement in funds |
96,191 | 96,191 | |
| Reconciliation offunds: |
|||
| Total funds brought forward | 359,791 | 359,791 | |
| Total funds carried forward | 455,982 | 455,982 |
| 4 | Income from | charitable ac |
tivities | |||
|---|---|---|---|---|---|---|
| Unrestricted | Total | Total | ||||
| 2023 | 2022 | |||||
| Point Europe | Projects | 157,236 | 157,236 | 264,648 | ||
| Grants | 4,796 | |||||
| 157,236 | 157,236 | 269,444 | ||||
| 5 | Income from | other trading | activities | |||
| Unrestricted | Total | Total | ||||
| 2023 | 2022 | |||||
| Charity Shop | 37,612 | 37,612 | 16,967 | |||
| Rent | 970 | 970 | 910 | |||
| 38,582 | 38,582 | 17,877 | ||||
| 6 | Expenditure | on raising funds | ||||
| Unrestricted | Total | Total | ||||
| 2023 | 2022 | |||||
| Fundraising | trading costs | |||||
| Charity Shop | 3,006 | 3,006 | 2,000 | |||
| Rent | 2,696 | |||||
| 3,006 | 3,006 | 4,696 | ||||
| 7 | Expenditure | on charitable | activities | |||
| Unrestricted | Total | Total | ||||
| 2023 | 2022 | |||||
| Expenditure | on charitable | |||||
| activities | ||||||
| Point Europa | Projects | 221,309 | 221,309 | 128,631 | ||
| Governance | costs | |||||
| Wages | 4,445 | |||||
| Social Security | 81 | |||||
| Pensions | 308 | |||||
| Accountancy | 3,488 | 3,488 | 3,618 | |||
| 224,797 | 224,797 | 137,083 |
| Unrestricted | Unrestricted | Total | Total | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||||||
| Employee costs | 67,691 | 67,691 | 37,611 | ||||||||
| Premises costs | 10,946 | 10,946 | 6,480 | ||||||||
| Amortisation, | depreciation, | ||||||||||
| impairment, | profit/loss | on | 449 | 449 | 373 | ||||||
| disposal offixed assets | |||||||||||
| General administrative | costs | 8,590 | 8,590 | 4,887 | |||||||
| Legal and professional | costs | 5,265 | 5,265 | ||||||||
| 92,941 | 92,941 | 49,351 | |||||||||
| 9 | Net (expenditure)/income | before transfers | |||||||||
| 2023 | 2022 | ||||||||||
| This is stated | after charging: | f | E | ||||||||
| Depreciation | of owned | fixed assets | 449 | 373 | |||||||
| Independent | Examiner's | fee | 500 | 550 | |||||||
| 10 | Staffcosts | ||||||||||
| 2023 | 2022 | ||||||||||
| Salaries and | wages | 62,364 | 35,097 | ||||||||
| Social security | costs | 622 | |||||||||
| Pension costs | 5,176 | 1,892 | |||||||||
| 67,540 | 37,611 | ||||||||||
| No employee | received | emoluments | in excess off60,000. | ||||||||
| The average | monthly | number offull time equivalent | employees | during the year was as follows: | |||||||
| 2023 | 2022 | ||||||||||
| Number | Number | ||||||||||
| Operations | 3 |
| 11 | Tangible fixed assets | |||||
|---|---|---|---|---|---|---|
| Land and | Office | Fixtures & | Computer | Total | ||
| buildings | equipment | fittings | equipment | |||
| Cost or revaluation | ||||||
| At 1April 2022 | 262,576 | 7,220 | 25,054 | 10,690 | 305,540 | |
| Additions | 1,361 | 1,361 | ||||
| At 30September 2023 | 262,576 | 7,220 | 25,054 | 12,051 | 306,901 | |
| Depreciation and |
||||||
| impairment | ||||||
| At 1April 2022 | 7,220 | 25,054 | 10,690 | 42,964 | ||
| Depreciation charge for the |
449 | 449 | ||||
| year | ||||||
| At 30September 2023 | 7,220 | 25,054 | 11,139 | 43,413 | ||
| Net book values | ||||||
| At 30September 2023 | 262,576 | 912 | 263,488 | |||
| At 31March 2022 | 262,576 | 262,576 | ||||
| 12 | Debtors | |||||
| 2023 | 2022 | |||||
| E | ||||||
| Other debtors | 3,618 | |||||
| Prepayments and accrued income |
540 | 552 | ||||
| 4,158 | 552 | |||||
| 13 | Creditors: | |||||
| amounts falling due within one year |
||||||
| 2023 | 2022 | |||||
| E | ||||||
| Other taxes and social security | 1,826 | |||||
| Other creditors | 297 | 334 | ||||
| Accruals | 2,500 | 3,445 | ||||
| 2,797 | 5,605 |
| Incoming | ||||||||
|---|---|---|---|---|---|---|---|---|
| resources | At 30 | |||||||
| Resources | Gross | |||||||
| At 1April | (including other |
expended | transfers | September 2023 |
||||
| 2022 | gains/losses) | |||||||
| f | ||||||||
| Restricted funds: | ||||||||
| Unrestricted | funds: | |||||||
| Designated | funds: | |||||||
| Point Europa | 193,407 | 195,818 | (320,295) | (1,361) | 67,569 | |||
| Fixed Asset | Reserve | 262,576 | (449) | 1,361 | 263,488 | |||
| Total | 455,983 | 195,818 | (320,744) | 331,057 | ||||
| Total funds | 455,983 | 195,818 | (320,744) | 331,057 | ||||
| Purposes and |
restrictions | in relation | to the funds: | |||||
| Designated | funds: | |||||||
| Point Europa | Training and education | |||||||
| Fixed Asset | Reserve |
| 15 | Analysis ofne | t assets between funds |
|||
|---|---|---|---|---|---|
| Unrestricted | |||||
| Total | |||||
| funds | |||||
| f | f | ||||
| Fixed assets | 263,488 | 263,488 | |||
| Net current assets | 67,569 | 67,569 | |||
| 331,057 | 331,057 | ||||
| 16 | Reconciliation | ofnet debt | |||
| At 30 | |||||
| At 1April | September | ||||
| 2022 | Cash flows | 2023 | |||
| f | f | f | |||
| Cash and cash | equivalents | 198,460 | (132,252) | 66,208 | |
| 198,460 | (132,252) | 66,208 | |||
| Net debt | 198,460 | (132,252) | 66,208 |
| Annual co |
mmitments under non-cancellable |
operating leases ar |
e as follows: | ||
|---|---|---|---|---|---|
| 2023 | 2023 | 2022 | 2022 | ||
| Land and | Land and | ||||
| Other | Other | ||||
| buildings | buildings | ||||
| f | f | ||||
| Operating | leases with expiry date: | ||||
| Pension commitments | |||||
| 2023 | 2022 | ||||
| f | |||||
| The pension cost charge to the company | |||||
| amounted | to: | 5,176 | 1,892 |
| for the period | ended | 30 | September 2023 | |||
|---|---|---|---|---|---|---|
| Unrestricted | ||||||
| funds | Total funds | Total funds | ||||
| 2023 | 2023 | 2022 | ||||
| E | f | f | ||||
| Income and endowments | from: | |||||
| Charitable activities |
||||||
| Point Europa | Projects | 157,236 | 157,236 | 264,648 | ||
| Grants | 4,796 | |||||
| 157,236 | 157,236 | 269,444 | ||||
| Other trading | activities | |||||
| Charity Shop | 37,612 | 37,612 | 16,967 | |||
| Rent | 970 | 970 | 910 | |||
| 38,582 | 38,582 | 17,877 | ||||
| Total income | and endowments | 195,818 | 195,818 | 287,321 | ||
| Expenditure on: |
||||||
| Costs ofother | trading | activities | ||||
| Charity Shop | 3,006 | 3,006 | 2,000 | |||
| Rent | 2,696 | |||||
| 3,006 | 3,006 | 4,696 | ||||
| Total ofexpenditure funds |
on | raising | 3,006 | 3,006 | 4,696 | |
| Charitable activities |
||||||
| Point Europa | Projects | 221,309 | 221,309 | 128,631 | ||
| 221,309 | 221,309 | 128,631 | ||||
| Governance costs |
||||||
| Wages | 4,445 | |||||
| Social Security | 81 | |||||
| Pensions | 308 | |||||
| Accountancy | 3,488 | 3,488 | 3,618 | |||
| 3,488 | 3,488 | 8,452 | ||||
| Total ofexpenditure activities |
on | charitable | 224,797 | 224,797 | 137,083 | |
| Employee costs | ||||||
| Salaries/wages | 62,364 | 62,364 | 35,097 | |||
| Employer's | NIC | 622 | ||||
| Pension costs | 5,176 | 5,176 | 1,892 | |||
| Staff training | 151 | 151 | ||||
| 67,691 | 67,691 | 37,611 | ||||
| Premises costs | ||||||
| Rent | 1,680 | |||||
| Rates | 478 | 478 | 1,350 | |||
| Light, heat and power | 7,875 | 7,875 | 2,039 | |||
| Premises cleaning |
230 | 230 |
| Premises insurances | 1,554 | 1,554 | 1,371 | ||
|---|---|---|---|---|---|
| Premises repairs and | 809 | 809 | 40 | ||
| maintenance | |||||
| 10,946 | 10,946 | 6,480 | |||
| General administrative | costs, | ||||
| including depreciation |
and | ||||
| amortisation | |||||
| Depreciation ofOffice |
equipment | ||||
| Depreciation of Fixtures |
(Lfittings | ||||
| Depreciation ofComputer |
449 | 373 | |||
| equipment | |||||
| Software, ITsupport and |
related | 453 | 453 | ||
| costs | |||||
| Stationery and printing |
933 | 933 | 427 | ||
| Subscriptions | 704 | 704 | 1,359 | ||
| Sundry expenses | 1,302 | 1,302 | 579 | ||
| Telephone, fax and broadband |
5,198 | 5,198 | 2,522 | ||
| 9,039 | 9,039 | 5,260 | |||
| Legal and professional | costs | ||||
| Consultancy fees |
5,265 | 5,265 | |||
| 5,265 | 5,265 | ||||
| Total ofexpenditure of |
other costs | 92,941 | 92,941 | 49,351 | |
| Total expenditure | 320,744 | 320,744 | 191,130 | ||
| Net gains on investments | |||||
| Net (expenditure)/income | (124,926) | (124,926) | 96,191 | ||
| Net (expenditure)/income other gains/(losses) |
before | (124,926) | (124,926) | 96,191 | |
| Other Gains | |||||
| Net movement in funds |
(124,926) | (124,926) | 96,191 | ||
| Reconciliation offunds: |
|||||
| Total funds brought forward | 455,983 | 455,983 | 359,791 | ||
| Total funds carried forward | 331,057 | 331,057 | 455,982 |