COMPANY REGISTRATION NUMBER." N1019258 CHARITY REGISTRATION NUMBER: NIC100004 Disability Action (Nl) Company Limited by Guarantee Financial Statements 31 March 2024 Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN
Disability Action (Nl) Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report {incorporating the directorfs report) Independent auditorfs report to the members Statement of financial activities (including income and expenditure account) 12 Statement of financial position 13 Statement of cash flows 14 Notes to the financial statements 15
Disability Action (Nl) Company Limited by Guarantee Trustses. Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2024. Reference and administrative detalls Registered charity namo Disability Action (Nl) Charity reglstratlon number NIC100004 Company registration number N1019258 Princlpal office and rogistered Portside Business Park office 189 Airport Road West Belfast BT3 9ED The trustees P Bray M Douglas G Maguire M Marshall J Carberry W Clarke A Passmore P Lyle Company secretary A Brown Audltor Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Bankers Ulster Bank Limited Arches Retail Park Belfast BT5 4AF Dankse Bank Forestside Shopping Centre Upper Galwally Belfast BT8 6FX Solicitors Elliott Duffy Garrett 40 Linenhall Street Belfast BT2 88A Cleaver Fulton Rankin 50 Bedford Street Belfast BT2 7FW
Disability Action {Nl) Company Limitsd by Guarantse Trustees. Annual Report {Incorporating the Director's Report) (contlnued) Year ended 31 March 2024 structure, governance and management Disability Action {Nl) is a company limited by guarantee and a registered charity- The organisation is governed by up to 12 trustees who are nominated by member groups and elected by postal ballot at the AGM, if required. One third of the trustees retire each year on a rotational basis. Recruiting and Appointlng Trustees Trustees are recruited through an annual election pr¢xess to conform to the Memorandum and Articles of Association. In the charity's case a p)stal ballot is undertaken with its 100 member organisations. Newly appointed trustees undergo an induction process and receive an induction pack. Trustees are also appointed to sub committees which best match their skills and are supported by the relevant senior Stsff member. The board meets bi-monthly with sub-committees meeting in altemate months. The company's standing sub-committee structure comprises a Human ReSoUrS Sub-committee and a Finance, Strategy & Audit SulFCommittee. Each standing sub-committee also includes co-opted members who are proposed and agreed by the main board. The work of all sub-committees is presented to the board for its approval and the board refers issues to specific sub<ommittees. All trustees serve on at least one sub-committee. Disability Action (Nl) is a member of a number of nelwork organisations e.g. NICVA and Children Nl and has strong relationships with the private sector e.g. Northem Ireland Chamber of Commerce and Industry and public sector groupings. Risk Management Statement Significant risks to funding have led to the development of a strategic plan which allows for the diversification of charitable activities. In addition, corporate risk is managed by ensuring that appropriate insurance cover is in place, adhering to rigorous internal financial controls, implementation of an annual budgetary process and the operation of a staff appraisal scheme. Management and Remuneratlon The Board of Trustees delegates the daily operation of the charity to the Senior Management team which is headed by the Chief Executive Offir. Remuneration of key management personnel is set by the Board based on appraisal of industry benchmarks.
Disability Action (Nl) Company Limited by Guarantee Trustses. Annual Report (Incorporating the Director's Report) {¢ontinued) Year ended 31 March 2024 Objectives and activities Disability Action's Strategic plan for 2022 26 sets out a vision of a truly inclusive society where our mission is to support Human Rights for All. Our 5 key strategic principles are to.. Advocate for human rights for all Change attitudes to enhance social inclusion and independence Support through skills and employment Educate to empower through training Be a sustainable organisation In order to fulfil these priorities Disability Action (Nl) will continue to work with and for Disabled people and their representative organisations throughout Northem Ireland. Key activities include the provision of information and advice services, employment and vocational training programmes, transport servIs, research, training and equality work, Community development, mobility assessments and lessons, and a human rights programme. The charity represents people regardless of their disability- whether that is a physical, mental health, sensory, hidden or learning disability. Achievements and performanco Continuing political instability hampers the sectors, ability to progress, the cost-of-living crisis has had a devastating impact on disabled people. This was shown in small way by the demand for food vouchers distributed by DANI from Belfast City Council's Social Supermarket scheme. The retum of the Nl Executive gives us hope of addressing the longstanding issues - incorporation of the UNCRPD into the Nl legislative framework, a funded, disabled person led Disability Strategy and a Programme for Government Disability Action reported to the UN Committee on the Nl governments progress on fulfilling its obligation under the UNCRPD. A delegation from Nl attended with representstives from the 4 nations to the committee session in Geneva in August 2023. Representatives from any UK nation failed to attend, and a further report was made remotely in February 2024. Empower is a programme funded by UKSPF aimed at reaching the economically inactive and supporting them into work. Disability Action are working in partnership with USEL and Specialisterne to assist disabled people into employment. This is a 2-year programme running until March 2025 hoping to achieve 1000 people into good, sustainable employment Due to budgetary constraints the Dept of Health stopped Disability Action's Core Funding from September 2023, while this funding (at 23124 levels) has been reinstated for the 24125 financial year DANI intend to continue to challenge the legality of the decision made by the Permanent Se¢tary, we are being supported to do this by PILS (Public interest Litigation Service). Disability Action were successful in 2023124 of securing funding from the Motability Foundation. This funding will be used to enhance the motor fleet to assist in driving lessons and assessments and train 2 new assessors to secure the future of the Mobility Centre. The TPPD grant has been used solely for the purposes intended and in accordance with the terms and conditions of grant.
Disability Action (Nl) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2024 Financial review Net expenditure for the year ended 31 March 2024 was (£23,478). The organisation uses the following key financial performance indicator (KFPI) to monitor financial performance 'Net income before capital grants and depreciation and impairment charges,. The KFPI of (£82,105). The charity's main source of income continues to be from seNices delivered under government contract. The main category of expenditure is staff dedicated to our objects of working with disabled people and such costs represent 57°h of revenues (2023 _ 54 % ). Depreciation is not charged on buildings on the grounds that the charge would be immaterial, due to the residual value of the buildings being in excess of their carrying amount. The rationale for this is to provide a fair presentation of the results and financial position of the company. The trustees are of the opinion that the value of the fixed assets is not less than their net book value. The board is aware of the impact of funding cuts over the past few years on the unrestricted cash reserves of the organisation. These continue to be monitored. The Northern Ireland Charities Pension Scheme (NICPS) is a multi-employer final salary scheme which was closed in 2009. There are currently 444 scheme members and 11 actively participating scheme employers. The overall scheme deficit identified by the September 2022 actuarial valuation was £3.2mil. Plans for future periods We are committed to working diligently to achieve a financial surplus in 2024125 and the future of the organisation. During the year several key contracts were renewed and we were also successful in our tender for the Department of Economy Disability Support Services contract. We continue to adapt to the challenges brought to the our staff members with Covid-19 and the Cost of Living crisis and continue to ensure the safety and wellbeing of all staff and participants. Trustees. responsibilities Statement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements ft)r each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
Disability Action (Nl) Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director'8 Report) (continued) Year ended 31 March 2024 In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles in the applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudent., prepare the financial statements on the going COnM basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor Each of the persons who is a trustee at the date of approval of this report confirms that.. so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware,. and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. Small company provlslons 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 12th December 2024 and signed on behalf of the board of trustees by". P Bray Trustee M Douglas Trustee
Disability Action (Nl) Company Limited by Guarantee Independent Auditor's Report to the Members of Disability Action (Nl) Year ended 31 March 2024 Opinion We have audited the financial statements of Disability Action (Nl) (the 'charity') for the year ended 31 March 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally A¢pted Accounting Practice). In our opinion the financial statements- give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Apted Accounting practi., have been prepared in accordan with the requirements of the Companies Act 2006. Basls for opinion We conducted our audit in accordance with International Standards on Auditing {UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to going ¢on¢ern In audits'ng the financial statements, we have concluded that the trustees, use of the going concem basis of aountIng in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the rolevant Sgrtions of this r•port.
Disability Action (Nl) Company Limited by Guarantee Independent Auditor's Report to the Members of Disability Action (Nl) (continued) Year ended 31 March 2024 other information The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent othetwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other inft)rmation and, in doing so, consider whether the other inft)rmation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements., and the trustees, report has been prepared in accordan with applicable legal requirements. Matters on which we aro required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting record5 and retums., or rtain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in pparIng the directors, report and from the requirement to prepare a strategic report.
Disability Action (Nl) Company Limited by Guarantee Independent Auditorfs Report to the Members of Disability Action (Nl) (contlnueajl Year ended 31 March 2024 Responsibilltles of truste&s As explained more fully in the trustees. responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to conb'nue as a going concern, disclosing, as applicable, matters related to going concern and using the going COnM basis of accounting unless the trustees either intend to liquidate the charity or to cease operations. or have no realistic alternative but to do so.
Disability Action (Nl) Company Limited by Guarantee Independent Auditor's Report to the Members of Disability Action (Nl) (contlnued) Year ended 31 March 2024 Auditorfs responslbilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to Influen the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below- In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following.. the nature of the industry and sector. control environment and business performance including the design of the remuneration policies. key drivers for directors, remuneration, bonus levels and performance targets., results of our enquiries of management about their own identification and assessment of the risks of irregularities., any matters we identified having obtained and reviewed documentation of their policies and procedures relating to.. identifying, evaluating and complying with laws and regulations and whether management were aware of any instances of non-compliance; detecting and responding to the risks of fraud and whether management have knowledge of any actual, suspected or alleged fraud: the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations. the matters discussed among the audit engagement team including significant component audit teams and relevant internal specialists, including tax and valuations specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAS (UK), we are also required to perfom specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks in operation, focusing on provisions of those laws and regulations that had a direct effect on the determination of material 411UlliS &iiid di5LIu5ures In the flnanclal stateménts. The key laws and regulations we considerèd in this context included ongoing compliance with the UK Companies Act and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a dI¢t effect on the financial statements but compliance with which may be fundamental for their ability to operate or to avoid a material penalty.
Disability Action (Nl) Company Limited by Guarantee Independent Auditor's Report to the Members of Disability Action (Nl) (contlnued) Year ended 31 March 2024 As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional s¢epti¢ism throughout the audit. We also.. Identify and assess the risks of material misststement of the financial statements, whether due to fraud or error, design and perfom audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulb'ng from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not ft)r the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit eviden obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concem. If we conclude that a material uncertainty exists, we are required to draw attention in our auditorfs report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit eviden obtained up to the date of our auditorfs report. However, future events or conditions may cause the charity to cease to continue as a going cOnrn. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 10
Disability Action (Nl) Company Limitsd by Guarantee Independent Auditorfs Report to the Membars of Disability Action (Nl) fcontinued) Year ended 31 March 2024 Respective responsibilitles of dlrnctors and auditor As explained more fully in the Directors, Responsibilities Statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial ststements in accordan with applicable law and Intemational Standards on Auditing (UK). Those standards require us to comply with the Financial Reporting Council's {FRC's) Ethical Standard for Auditors., in the circUmstanS set out in note 33 to the financial statements. Use of our report This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matter5 we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work. for this report, or for the opinions we have fomed. Paul Dolan FCA (Senior Statutory Auditor) For and on behalf of Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN 12th December 2024 11
Disability Action (Nl) Company Limited by Guarantee ststement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities other trading activities Investment income Other income 4,641 1.526,530 15,655 663 6,438 4,641 5,815,435 15,655 663 6,438 111.639 6,335,434 12.030 12 3,500 6,462,615 4,288,905 Total income 1,553,927 4,288,905 5,842,832 Expenditure Expenditure on charitable activities Total expenditure 10,11 (1,082,677) (4,736,677> (5,819,354) (6,597,802) (1,082,677) (4,736,677) (5,819,354) (6,597.802) Net Incomel{expenditure) 471,250 (447,772) 23,478 (135,187) Transfers between funds (478,831) 478,831 Net movement in funds {7.581) 31,059 23.478 (135,187) Reconciliation of funds Total funds brought forward Total funds carried forward 328,107 150,000 478,107 613,294 320,526 181,059 501,585 478,107 The ststement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 15 to 36 forni part of these flnanclal statsments. 12
Disability Action (Nl) Company Limited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Nota Fixed assets Tangible fixed assets Investments 17 1,044,258 18 251 1,043,313 251 1,044,509 1,043,564 Current assets Debtors Cash at bank and in hand 19 582,309 76,000 658,309 970,848 63,245 1,034,093 Creditors: amounts falling due withln one year Net current liabilities 21 1680,669) (1,335,391) (22,360) (301,298) 1,022,149 742,266 Totsl assets less current liabilities Credltors: amounts falling duo after more than one year 22 (60,354) (62,003) Provisions 24 (460,210) (202,156) 501,585 478,107 Net assets Funds of the charity Restricted funds Unrestricted funds 181,059 320,526 150,000 328,107 Total charlty funds 26 501,585 478,107 These financial statements have been prepared in accordan 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 121h Dember 2024, and are signed on behalf of the board by: P Bray Trustee M Douglas Trustee The notes on pages 15 to 36 form part of these financial statements. 13
Disability Action (Nl) Company Limited by Guarantse Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows fmm operating activities Net incomel(expenditure) 23,478 (135,187) Adjustments for Depreciab'on of tangible fixed assets Other interest receivable and similar income Gains on disposal of tangible fixed assets Accrued expenses 58,627 (663) (6,438) 234,075 50,325 (12) (3,500) 105.621 Changes in.. Trade and other debtors Trade and other creditors Provisions and employ benefits Cash generated from operations 141,008 (451.154) 258,054 (45,737) 161.122 (88,711) 43,921 256,987 Intest reiVed 663 12 Net cash from operating activities 257,650 43,933 Cash flows from investing actlvltles Purchase of tangible assets Proceeds from sale of tangible assets Net cash used in invests'ng activities (60,403) 831 (22,422) (59,572) (22,422) Net incroase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 198,078 21,511 (352,832) (374,343) (154,754) (352,832) 20 The notss on pages 15 to 36 fomi part of these financial statsments. 14
Disability Action (Nl) Company Limitad by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General informatlon The charity is a public benefit entity and a private company limited by guarantee, registered in Northem Ireland and a registered charity in Northern Ireland. The address of the registered office is Portside Business Park, 189 Airport Road West, Belfast, BT3 9ED. Statomont 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 Practi* applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting pollcles Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilits'es 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 ents-ty. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estlmatlon 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. Signrficant judgements The are no significant judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. Key sources of estlmatlon uncertainty Accounting estimates and assumptions are made Conrning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation unrtainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows.. Management estimate an appropriate discount rate for present value calculations in measuring the pension liability recognised in the Statement of Financial Position 15
Disability Action (Nl) Company Limitad by Guarantse Notes to the Financial Statements (continued) Year ended 31 March 2024 Accountlng policies fcontinuedj Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities. 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 Iwo sub-classes.. restricted income funds or endowment funds. Incomlng 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 bo rogarded rootrictcd. 16
Disability Action (Nl) Company Limited by Guarantee Notes to the Financial Statements {contlnuedJ Year ended 31 March 2024 Accounting policies (contlnued) 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 charitsble 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 charty 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, justs'fiable and consistent basis. Tanglble assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tsngible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is COgnised in other recognised gains and losses, unless It reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to wrste off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Long lea88hold propety Motor vehicles Equipment 200/0 Straight line 150/0 - 200k straight line Investments Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. 17
Disability Action (Nl) Company Limited by Guarantee Notes to the Financial Statsments (Continued) Year ended 31 March 2024 Accounting policies (continued) Investments fcontinued) Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Investments in associates Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort. the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition. Investments in joint ventures Investments in jointly controlled enttties accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction pri. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition. Impairnient of flxed assets A review ft)r indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Wiere the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. 18
Disability Action (Nl) Company Limited by Guarantee Notes to the Financial Statements fcontlnued) Year ended 31 March 2024 Accounting policies (contlnued) Impalrment of flxed assets (continued) For impairment testing of goodwill, the goodwill acquired in a business combination is. from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charty are assigned to those units. Provisions Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in setdement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in income or expenditure unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in the statement of financial activities in the period it arises, and is allocated to the appropriate expenditure heading. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty 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. Vthere 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 investrnents 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. 19
Disability Action (Nl) Company Limited by Guarantee Notes to the Financial Ststsrnents (continued) Year ended 31 March 2024 Accounting policies (contlnued) Flnancial instruments (contlnued) 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 irnpaiment, 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 a 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. Defined contributlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related seNice 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. Vthen 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 discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Employee beneflts Employee benefits are recognised as an expense when employees become entitled as a result of service rendered during the reporting period. Termination benefits are recognised as an expense in income or expenditure immediately. Temiination benefits are recognised as a liability and expense only when the company is demonstrably committed either to terminate the employment of an employee or group of employees before the normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy. Termination benefits are measured at the best estimate of the expenditure that would be required to settle the obligation at the reporting date. In the case of an offer made to encourage voluntary redundancy, measurement is based on the number of employees expected to accept the offer. Vvhen terrninatian benefits are due mnrp than 1? mnths afte.r thp. p.nd nf the. rp.pnrtino pp.rind, they shall be measured at their discounted psent value. 20
Disability Action (Nl) Company Limited by Guarantee Notes to the Financial Ststements {conflnuedJ Year ended 31 March 2024 Limited by guarantee Every member of the charitable company undertakes to contribute to the assets of the charitable company, in the event of the same being wound up while it is a member, or within one year after it aSeS to be a member, for payment of the debts and liabilities of the charitable company contracted before it aSeS to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves. such amount as may be required not exceeding £1. Donations and legacies Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Donations Donations 4,641 4,641 2,979 2,979 Legacles Legacies 108,660 108,660 4,641 4,641 111,639 111,639 21
Disability Action (Nl) Company Limited by Guarantee Notes to the Financial Statements (¢t>ntinuedJ Year ended 31 March 2024 Charitable actlvities Unrestricted Funds Restricted Total Funds Funds 2024 Department of Health - core grant Department of I nfrastructure (DATS) NH&SCT SH&SCT (Advocacy) WH&SCT (Advocacy) Housing Executive Department for Communities (Jab Match) Department for Communities (Peer Advocacy) IMTAC Empower Mobility Centre lessons Mobility Exhibition assessments Fares Income Other Income CFNI Mental Health Fund DSS Arts Council Nl Motability Grant Workable Nl IFI Civic Initiative Onside NET Project Jobstart Department for Infrastructure - Capital Grant 61,182 2,055,077 61,333 223,587 22,675 30,000 61.182 2,055,077 61.333 223,587 22,675 30,000 37,217 821,895 37,217 821,895 15,856 280,697 61,596 21,379 113,500 1,208,598 15,856 280,697 61,596 21,379 113,500 1,208,598 122,903 840,975 36,965 122,903 640,975 36,965 1,526,530 4,288,905 5,815,435 22
Disability Action (Nl) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 Charitable activities (continued) Unrestricted Funds Restricted Total Funds Funds 2023 Department of Health - core grant Department of Infrastructure (DATS) NH&SCT SH&SCT (Advocacy) WH&SCT (Advocacy) Housing Executive Department for Communities (Job Match) Department for Communities (Peer Advocacy) IMTAC Empower Mobility Centre lessons Mobility Exhibition assessments Fares Income Other Income CFNI Mental Health Fund DSS Arts Council Nl Motability Grant vOrkable Nl IFI Civic Initiative Onside NET Project Jobstart Department for Infrastructu - Capital Grant 123,864 2,125,942 65,160 227,897 123,864 2,125,942 65,160 227.897 20,000 469,664 23,598 35,876 20,000 469,664 23,598 35,876 11,534 244,840 11,534 244,840 56.146 297 100,000 696,931 10,000 56,146 297 100,000 696,931 10,000 146,165 463,310 609,475 1,402,174 29,050 4,192 78,794 5,235,667 1,402.174 29,050 4,192 78,794 1,099,767 6,335,434 Other tradlng activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Training & Seminars Consultancy income Rental Income 7.213 7.213 3,315 2,115 6,600 3,315 2,115 6.600 8,442 15,655 8,442 15,655 12,030 12,030 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 663 663 12 12 23
Disability Action {Nl) Company Limited by Guarantee Notes to the Financial Ststements (contlnued) Year ended 31 March 2024 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Gain on disposal of tsngible fixed assets held for Charty's own use 6,438 6,438 3,500 3,500 10. Expenditure on charitable actlvlties by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Information and advice services Policy and research Transport and mobility services Training and employment support services Support costs 102,040 299,559 226,983 72,238 381,857 476,648 43,633 2,042,954 1,636,269 537,173 580,431 343,192 2,269.937 1,706,764 919,030 5,819,354 1,082,677 4,736,677 Unrestricted Funds Restricted Total Funds Funds 2023 Information and advice services Policy and research Transport and mobility services Training and employment support services Support costs 279,325 74,243 90,601 130,300 597,683 401,531 1,246,901 1,893,372 1,136,779 747,067 680,856 1,321,144 1,983,973 1.267,079 1,344,750 6,597,802 1,172,152 5,425,650 11. Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Information and advice servIS Policy and research Transport and mobility servIS Traiiiing aiid giiipluyiiieiiL suppvil services Governan costs 580,431 343,192 2,269,937 30,234 610,665 343,192 2,565,418 1,185,857 1,413,185 2,264,712 295,481 1,706,764 568,811 24,504 2,275,575 24,504 5,819,354 1,659,602 74,446 4,900,324 919,030 6,597,802 24
Disability Action (Nl) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 12. Analysls of support costs Training and Information Transport employment and advice and mobility support Governance services services services Costs Total 2024 Totsl 2023 Staff costs Premises Communications and IT General office Governance costs 10,465 10,178 139,041 104,361 271,550 200,898 421,056 315,437 468,692 324,981 6,516 3.075 36,212 15,867 67,192 29,171 109,920 48,113 24,504 244,487 232,144 74,446 24,504 30,234 295,481 568.811 24,504 919,030 1,344,750 13. Net incomel{expenditure Net incomel(expenditure) is stated after charging/(crediting).' 2024 2023 Depreciation of tangible fixed assets Gains on disposal of tangible fixed assets Foreign exchange differences 58,627 (6,438) 50,325 (3,500) 16,150 14. Auditors remuneratlon 2024 2023 Fees payable for the audit of the financial ststements 17,234 15,173 15. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows". 2024 2023 Wages and salaries Social security costs Employer contributions to pension plans Other employee benefits 2,828,314 234,315 204,877 46,852 3,314,358 2,932,479 265,855 204,934 48,024 3,451,292 25
Disability Action (Nl) Company Limitsd by Guarantee Notes to the Financial Statements {eontinuedJ Year ended 31 March 2024 1 S. Staff costs {eontinued) The average head count of employees during the year was 146 (2023.. 129). The average number of full-ts'me equivalent employees during the year is analysed as follows: 2024 No. 2023 No. Number of training support staff Number of administrative and finance staff Number of senior management staff Number of other staff Number of driving staff 71 15 56 15 22 35 21 146 129 No employee received employee benefits of more than £60,000 during the year (2023: Nil). Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £193,599 {2023.'£191,361). 16. Trustee romunoration and expenses No trustee received any remuneration during the year (2023.. £Nil). No trustees reiVed expenses during the year (2023.. £Nil) 26
Disability Action (Nl) Company Limited by Guarantee Notes to the Financial Statements fconllnued) Year ended 31 March 2024 17. Tangible red assets Long leasehold property Motor vehicles Equipment Totsl Cost At 1 April 2023 Additions Disposals At 31 March 2024 1,388.451 335.877 51,743 (5,550) 382,070 518,166 8,660 2.242,494 60,403 (5,550) 2,297.347 1,388,451 526,826 Depreciation At 1 April 2023 Charge for the year Disposals At 31 March 2024 505,893 268,595 32.970 (4.719) 296.846 424,693 25,657 1,199.181 58,627 (4,719) 1,253,089 505,893 450,350 Carrying amount At 31 March 2024 882,558 85,224 76,476 1,044,258 At 31 March 2023 882,558 67,282 93,473 1,043,313 18. Investments Other investments Cost or valuation At 1 April 2023 Additions 251 At 31 March 2024 251 Impalrment At 1 April 2023 and 31 March 2024 Carrying amount At 31 March 2024 251 At 31 March 2023 251 All investments shown above are held at valuation. These investments relate to the holding of 250 ordinary £1 shares in the Ulster Community Investment Trust Limited and one ordinary £1 share in Disability Action Tradeable Services Limited. which represents 1 OOOk of its issued share capital. Disability Action (Nl) considers that Disability Action (Nl) Employment and Training, a charity and a company limited by guarantee, is a wholly owned subsidiary. 27
Disability Action (Nl) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 19. Debtors 2024 2023 Trade debtors Amounts owed by group undertakings Prepayments and accrued income 115,479 113,056 353,774 582,309 259,696 119,694 591,458 970,848 20. Cash and cash equivalents Cash and cash equivalersts comprise the following.. 2024 2023 Cash at bank and in hand Bank overdrafts 76,000 63,245 (230,754) (416,077) (154,754) (352,832) 21. Credltors: amounts falling due within one year 2024 2023 Bank loans and overdrafts Trade creditors Accruals and deferred income Social security and other taxes Pension contributions due Sundry creditors Other creditors 230,754 207,525 70,593 126,412 19,779 8,806 16,800 680,669 416,077 258,205 326,180 216,510 49,440 1,508 67,471 1,335,391 22. Creditors: amounts falllng due after more than one year 2024 2023 TPT Pension 60,354 62,003 23. Deferred income 2024 2023 At 1 April 2023 Amount released to income Amount deferred in year At 31 March 2024 242,132 261,135 (242,132) (261,135) 242,132 242,132 28
Disability Action (Nl) Company Limitsd by Guarantee Notes to the Financial Statements (continu8dJ Year ended 31 March 2024 24. Provlslons Pensions and simllar obligations At 1 April 2023 Remeasurements- impact of any change in assumptions Unwinding of discount Payments to fund deficit Remeasurements - amendments to the contribution schedule 202,156 11,216 9,234 (46,304) 283,908 460,210 At 31 March 2024 29
Disability Action (Nl) Company Limited by Guarantse Notes to the Financial Ststements (witlnued) Year ended 31 March 2024 25. Pensions and other post retlrement benefits The company participates in the scheme, a multi*mployer scheme which provides benefits to some 11 non-associated employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient infomation to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme. The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefi't occupational pension schemes in the UK. The scheme is classified as a 'last-man standing arrangement,. Therefore the company is potentially liable for other participating employers, obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. A full actuarial valuation for the scheme was carried out at 30 September 2022. This valuation showed assets of £22.8m, liabilities of £26.Om and a deficit of £3.2m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows.. From August 2020 to 29 February 2028.. £1,280,605 in total (payable monthly) The recovery plan contributions are allocated to each participating employer in line with their estimated share of the scheme liabilities. Ihlhere the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost. PRESENT VALUE OF PROVISION 2024 2023 2022 Present value of provision 460,210 202,156 254,731 RECONCILIA TION OF OPENING AND CLOSING PROVISIONS 2024 2023 Provision at start of period Unwinding of the discount factor (interest expense) Deficit contribution paid ReMeaSUMents - impact of any change in assumpb'ons Remeasurements - amendments to the contribution schedule 202,156 9,234 (46,304) 254,731 5,881 (46,304) 11,216 (12,152) 283,908 30
Disability Action (Nl) Company Limitsd by Guarantee Notes to the Financial Statements (continuedj Year ended 31 March 2024 Provision at end of period 460,210 202,156 INCOME AND EXPENDITURE IMPACT 2024 2023 Interest expense Remeasurements- impact of any changes in assumptions Remeasurements - amendments to the contribution schedule 9,234 5,881 11,216 (12,152) 283,908 "includes defined contribution schemes and future service contributions (i.e. excluding any deficit reducts'on payments) to defined benefit schemes which are treated as defined contribution schemes. To be completed by the company. ASSUMPTIONS 2024 2023 2022 Rate of discount The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions. 26. Anatysis of charitable funds Unrestricted funds At 31 March 202 At 1 April 2023 Income Expenditure Transfers General funds 328.107 1,553,927 (1,082,677) (478,831) 320,526 At 31 March 202 At 1 April 2022 Income Expenditure Transfers General funds 288,595 1,226,948 (1,172,152) (15,284) 328,107 31
Disability Action (Nl) Company Limitsd by Guarantee Notes to the Financial Statements (continuedj Year ended 31 March 2024 26. Analysis of charitable funds {ct>ntinued) Restrfcted funds At 31 March 202 At 1 April 2023 Income Expenditure Transfers Department of Health - Core Grant Department of Infrastwcture - DATS Fares Income NHSCT SHSCT WHSCT Housing Executive Department for Communities- Jobmatch Department for Communities - Peer Advocacy IMTAC DRILL SEUPB - ONSIDE NET Equality Commission Department for Communities- Jobstart Department of Infrastructure - Capital Grant Empower 61.182 (65,724) 4,542 2,055,077 (2,282,060) 61,596 (61,596) 61,333 (61,333) 223,587 (268,346) 22,675 (22,675) 30,000 (30,000) 226,983 44,759 (113) 113 640,975 37,217 (735,167) (37,217) 94,192 821,895 (901,102) 79,207 32
Disability Action (Nl) Company Limitsd by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 26. Analysis of Charitable funds (conllnued) Motability grant IFI Civic Initiative Erasmus Altantic Philanthrophies CFNI Mental Health Arts Council Nl Workable Nl 122,903 36,965 {91,844) (38,633) (22,367) 31,059 1,668 22,367 150,000 150,000 113,500 (113,500) (5,000) 5,000 150,000 4,288,905 (4,736,677) 478,831 181,059 At 31 March 202 At 1 April 2022 Income Expenditure Transfers Department of Health - Core Grant Department of Infrastructure - DATS Fares Income NHSCT SHSCT IAIHSCT Housing Executive Department for Communities- Jobmatch Department for Communities - Peer Advocacy IMTAC DRILL SEUPB - ONSIDE NET Equality Commission Department for Communities - Jobstart Department of Infrastructure - Capital Grant Empower Motability grant IFI Civic Initiative Erasmus Altantic Philanthrophies CFNI Mental Health Arts Council Nl Workable Nl 61,644 192,557 (162,165) (92,036) 44,818 2,125,942 (2,312,221) 56,146 (56,146) 65,160 (72,730) 207,906 (225,612) 19,991 (24,936) 20,000 141,461 7,570 17,706 4,945 (40,000) 20,000 469.664 (528,637) 58,973 5,878 23,598 35,876 (23,607) (35,876) (5,869) 20,144 (20,144) (21,801) (50,349) (916) 1.333,481 (1,311,680) 29,050 21,299 916 4.192 (4,192) 78,794 (100,794) 22,000 150,000 150,000 100,000 10,000 463,310 (97,936) (10,000) (463,310) 5,235,667 (5,425,650) (2,064) 324,699 15,284 150,000 33
Disability Action (Nl) Company Limited by Guarantee Notes to the Financial Statements (conlinued) Year ended 31 March 2024 26. Anatysis of charitable funds fcontlnued) Transfers have taken place in the year which relate to income received in relation to services delivered, as all conditions have been met and services have been delivered during the year, the remaining balance has been transferred to unrestricted reserves. Further transfers have taken place to correct expenditure previously being recognised within unrestricted funds, these balanS have been fully spent. Funds have been transferred froTn unrestricted to restricted funds during the year due to the operational deficits on multiple projects, these project deficits continue to run but are supported by unrestricted funding. 27. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Provisions 1,044,258 251 455,206 (658,625} 160,354) (460,2101 320,526 1,044,258 251 203,103 658,309 (22,044) (680,669) (60,354) (460,210) 501,585 Net assets 181,059 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Provision5 1,043,313 1,043,313 251 251 641,961 392,132 1,034,093 {1,og3,2591 (242,132) (1,335,391) {62,003) (62,003) (202,156) {202,156) 328,107 478,107 Net assets 150,000 28. Taxation The Company is a registered charity. and as such is entitled to tax exemptions on income and profits in furtherance of the charity's primary objectives. 29. Contingencies A contingent liability exists to repay grants and Trust monies received should certain conditions not be fulfilled by the charity. In the opinion of the Trustees, the terms of the Letters of Offers have been, or will be, complied with and no liability is expected.
Disability Action (Nl) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 30. Analysls of changes In net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand Bank overdrafts 63,245 (416,077) (352,832) 12,755 185,323 76.000 (230,754) (154,754) 198,078 31. Security and contingencies The Ulster Bank Limited holds separate inter-company guarantees between Disability Action (Nl) and Disability Action (Nl) Employment & Training. and Disability Action (Nl) and Disability Action Tradeable Services Limited. It also holds a collateral leasehold first legal charge over property at Portside Business Park, Airport Road Vlest, Belfast. As at 31 March 2024, Disabilty Action (Nl) owed Ulster Bank Limited £230.754 (2023: £416.077) in respect of bank overdrafts. 35
Disability Action (Nl) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 32. Related partles ith Disability Action (Nl) Employment & Tralnlng Relationship - Disability Action (Nl) Employment & Training is a wholly owned subsidiary of Disability Action (Nl). Nature of transactions during the year: 2024 2023 Amounts owed by group undertakings - DAET 62,940 69,578 Outstanding balances are unsecured and interest-free. th Disability Action Tradeable Services Limited Relats'onship - Disability Action Tradeable Services Limited is a wholty owned subsidiary of Disability Action (Nl). Nature of transactions during the year: 2024 2023 Amounts owed by group undertakings - DATS 50,116 50,116 Outstanding balances are unsecured and interest-free. The trustees of Disability Action (Nl) intend to offer ongoing financial support to Disability Action (Nl) Employment & Training, which is considered to be a subsidiary entity. The financial statements of Disability Action (Nl) Employment & Training as at 31 March 2024 show net current liabilities of £87,863, non-current liabilits'es of £47,421 and a pension provision of £313,323 resulting in total net liabilities of £447,607. 33. Ethlcal standards In common with many other entities of our size and nature, we use our auditors to assist with the preparation of the financial statements. 36