**Charity registration number NIC100012** 

**Company registration number NI001792 (Northern Ireland)** 

## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

**ANNUAL REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 MARCH 2024** 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

|**Trustees**|Ms C Brooks||
|---|---|---|
||Ms D Hayward||
||Ms Patricia Lewsley-Mooney CBE||
||Mr L Devine||
||Ms B Arthurs||
||Ms O Black||
||Mr S Dallas||
||Ms A Roberts||
||Ms M Cavanagh||
||Mr D Nutt|(Appointed 8 December 2023)|
|**Secretary**|Ms C McStravick||
|**Chief executive officer**|Ms C McStravick||
|**Senior management team**|Ms C McStravick, Chief Executive||
||Mr G Clarke, Head of Corporate Services (Appointed 4 December 2023)||
||Mr R Best, Head of Communications (Resigned 14 May 2024)||
||Ms S Bailie, Head of Organisational Development||
|**Charity number**|NIC100012||
|**Company number**|NI001792||
|**Registered office**|61 Duncairn Gardens||
||Belfast||
||BT15 2GB||
|**Auditor**|GMcG BELFAST||
||Chartered Accountants & Statutory Auditor||
||Alfred House||
||19 Alfred Street||
||Belfast||
||BT2 8EQ||
|**Bankers**|AIB||
||35 University Road||
||Belfast||
||BT7 1ND||
|**Solicitors**|Elliott Duffy Garrett||
||40 Linenhall Street||
||Belfast||
||BT2 8BA||





## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **CONTENTS** 

||**Page**|
|---|---|
|Chair's statement|1|
|Trustees' report|2 - 8|
|Independent auditor's report|9 - 14|
|Statement of financial activities|15|
|Balance sheet|16|
|Statement of cash flows|17|
|Notes to the financial statements|18 - 37|





NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION
CHAIR'S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
The Chair presents Iheir statement for Ihe year ended 31 March 2024.
This year. the voluntary and community sedor in Northem lieland faced further signlficant challenges. The absence
of a functionlng Executiv8 at Stomionl added to the existing pressures of an uncertain funding environment. forcing
organisatlons to d8liv8r essentlal services with fewer resources, during an ongoing Cost of Living Crisis. Demand
for 8eNices continued to grow, whi18 financial and human re80urces were stretched thin.
Throughout this difficult period, NICVA remained a steady and supportive resource for the sector. We navigated our
own internal chang8s, uslng the opportunity to reassess our slrategy. structure, and financial resilience. Our
commitment lo working wilh and for our members strengthened as we developed key initialives. including Ihe "Cost
of Living" report, the campaign against th8 UK Shared Prospeirty Fund cliff èdge and negoliations with Department
for Health regarding Core Funding culs. We also Convened and showcased our sector to highlight the impact of
budget culs on the mosl vulnerable, ensuring that the voice of the volunlary and community sector was bolh heard
and respected.
In the midst of these chall8ng8s. we were dear that our s8Ctor'8 Worth must be fully recognised and valued. The
voluntary and community sector Is not just a service provid8r- It underpin5 the social and economic development of
Northern Ireland. Our conlributlons to society are vital, and we have consistenlty proven our role. as a foundatlon for
community wellbeing and progress.
NICVA'S advocacy work supporting the eslablishment of the new All-Party Group IAPG) for the voluntary and
community sector is an example of how we continue lo advocate for a stronger re¢ognltk)n of our seclorf3
importance. Through the APG, we are building key partnerships to 8nsur8 that our sectoes voice remains central to
policy discussions and decisions in Ihe years ahead.
E￿ft in the mldsl of pollllcal uncertainty, NICVA continued to provide essential training. advocacy. and support
ser4ices to help organlsations navigate thage complex challenges. Our efforts ensured that the sector's need5 were
recognised by de¢islon-makers, and we worked hard to maintain strong support netrworks despite the drficult
circumstances.
th the return of the Executlvé in F8bruary 2024, there Is cautious optlmism for more stable funding and policy
support. However. the real h￿hlIght ol this year has been the resllience of the voluntary and community seclor.
Despite the obstacle8 we faced, the sedor'$ ability to adapt and contlnue serylng communities remains a Source of
pride, demonstiating the strenglh and dedication of everyone committed to making a positive impact In Northern
Ireland.
Ms C Brook
Ch•lr

## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024** 

The trustees present their annual report and financial statements for the year ended 31 March 2024. 

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by 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 (FRS 102) (effective 1 January 2019)". 

## **Objectives and activities** 

The Northern Ireland Council for Voluntary Action (NICVA) is the umbrella body for the voluntary and community sector in Northern Ireland with a membership of over 1,400 members. The Charity supports, represents, and promotes its membership and the voluntary and community sector and is committed to equality, social justice, embracing diversity and opposing discrimination. 

NICVA provides support through information, training and advice including governance, charity law reform, fundraising, finance, human resources, advocacy, and management development. NICVA represents the interests of the sector across all government departments and with all stakeholders making sure the health and well-being of the sector are looked after. In addition, NICVA runs a conference facility for the use of voluntary and community organisations. 

The trustees have paid due regard to the Charity Commission guidance on public benefit. The trustees are confident that NICVA's aims, and objectives are in accordance with the regulations on public benefit. 

The objects for which the charity is established are to promote, develop and support the voluntary and community sector and any purpose for the benefit of the community in Northern Ireland and in any other part of the world which are, or hereafter may be deemed by law, to be charitable and in particular: 

- to act as a representative of the voluntary and community sector in relation to government policies and legislation and in so doing promote and organise co-operation in the advancement of the above purposes and to that end bring together, in Council or conference, representatives of voluntary agencies and statutory authorities engaged in the furtherance of any of the above purposes; 

- to promote and improve the efficiency and effectiveness of charities, voluntary and community groups by the provision and management for such organisations of office accommodation, conference, training, information, advice and other facilities, services, or support. 

## **Achievements and performance** 

This year marked the third in NICVA’s new five-year strategic plan for April 2021-March 2026. 

## **Our Strategic Goals** 

Four strategic goals will determine our programmes of work over the five-year period. Each goal is supported by a series of operational goals and a series of outcomes which specifies the changes we want to see, our priorities for the five years and how we will achieve them. The priorities identified against the goals are not exhaustive and are likely to evolve as the context changes. Our strategy is underpinned by our Vision Mission and Values which drives all that we do. 

- 2 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **Strategic Goal 1: Support** 

Helping the VCS to innovate **,** develop and improve to meet the needs of the communities it serves. We do this by: 

- Providing high quality, diverse, learning and development opportunities; 

- Providing relevant information, guidance, advice, and resources; 

- Supporting innovation and change. 

## **Key outputs in the year included:** 

- Delivery of 11 Institute of Leadership and Management (ILM) and Training Qualifications UK (TQUK) accredited training programmes to 144 learners. 

- 275 training and advice sessions were delivered (bespoke, clinic, training and workshops) with 2,120 participants; 

- 1,036 support cases across issues relating to Governance, Workforce Development, Fundraising, HR and Finance; 

- 2,780 subscribers received weekly eNews update; 

- 2,132 subscribers received monthly member bulletins; 

- 11,680 subscribers received weekly CommunityNI jobs updates; 

- 1,267 subscribers received weekly Assembly Insider updates. 

## **Strategic Goal 2: Influence** 

Helping the VCS to influence policy. 

We do this by: 

- Advocating strongly for the contribution of the VCS in NI; 

- Provide the VCS with opportunities to engage with policymakers and influence policy. 

## **Key outputs in the year included:** 

- Produced four voluntary and community sector surveys – 2 Pulse surveys of NICVA members, Workforce Survey and Income and Expenditure Survey; 

- Delivered 27 policy seminars / events with 691 participants – events focused on a wide range of themes including NI Budget 2023/24, Cost of Living Crisis, as well as a Roundtable Discussion with the Northern Ireland Secretary of State and sector members; 

- Representing the sector on 50 influential committees including Joint Government and Voluntary Sector Forum, Department for Communities Registration Threshold Working Group, and the Education Authority Youth Funding Programme Board; 

- Provided representation at 300 strategic forums, events and meetings including UK Shared Prosperity Fund (UKSPF) Partnership meeting, Strengthening Civil Society meetings, North South Ministerial Council, Belfast City Region City Deal, and with Ministerial teams from the Department for Communities, Department for the Economy, Department of Health and Department of Finance. 

## **Strategic Goal 3: Develop** 

Helping the VCS consolidate and develop the use of Data, Digital and Technology. We do this by: 

- Developing Digital and Data products to support VCS activities and engagement. 

## **Key outputs in the year included:** 

- Delivered training sessions with 150 sector participants across a range of topics including cyber security and GDPR regulations and procedures; 

- NICVA website received 363,282 visits, accessing a wide range of news articles, advice and information guides and resources; 

- CommunityNI website received 853,760 visits, accessing jobs, community events and services; 

- Engagement with 13,948 NICVA followers on X (Twitter), 12,978 CommunityNI followers on X (Twitter) and 12,241 people actively liking posts on Facebook. 

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## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **Strategic Goal 4: Invest** 

Ensuring continuous improvement to provide the best service to our members. 

We will do this by: 

- Support excellent governance arrangements; 

- Supporting and developing a flexible workforce; 

- Continuous development of digital systems and processes; 

- Sustaining resources and seeking opportunities to diversify our funding mix. 

## **Key outputs in the year included:** 

- Securing a Department for Communities core grant to deliver the Regional Infrastructure Programme; 

- Additional funding secured to deliver the International Fund for Ireland Transforming Local Leadership Programme, supporting the Voluntary Youth Work Sector Forum in developing a transformation and investment application to TNL Dormant Accounts, and supporting the VCSE appointment process to the Department of Health Integrated Partnership Board and the Children’s Strategic Reform Programme Board; 

- 1,385 members with regular welcome / information sessions held with new members; 

- 1,200 bookings by sector members across NICVA conference and meeting facilities. 

## **Financial review** 

The results are set out in detail on pages 15 to 37. NICVA returned a net decrease in funds for the year of £108,431 (2023 - £23,737), of which £32,774 related to a net decrease in unrestricted funds and £75,657 related to a net decrease in restricted funds. 

The net decrease in unrestricted funds includes pension provision expenditure of £144,240 (2023 - income of £1,952). 

At 31 March 2024, the total funds of the charity amounted to £2,087,563 (2023 - £2,195,994) comprising restricted funds of £1,036,714 (2023 - £1,112,371) and unrestricted funds of £1,050,849 (2023 - £1,083,623). The unrestricted funds at the year end are after accounting for a pension provision of £194,120 (2023 - £65,897). Further details of pension provisions are provided in note 18. 

NICVA receives a core grant from the Department for Communities which contributes to the delivery of its core work as described in the strategic plan. Furthermore, NICVA delivers contracts on behalf of other funders such as Belfast City Council and The Executive Office which also support the delivery of NICVA’s Mission, Vision and Values. NICVA generates earned income from a range of sources including conference facilities and training courses which also contribute to the delivery of the core business. 

## **Reserves policy** 

Unrestricted funds are essential to provide sufficient funds to cover any unforeseen costs which may arise and fulfil the legal obligations of the Charity if current levels of income are not maintained. 

The reserves policy has been designed to recognise NICVA’s requirements for reserves considering the main risks to the organisation.  It has established a policy whereby the unrestricted funds not committed should equate to 6 months’ total resources expended.  The aim is to provide sufficient funds to cover any unforeseen costs which may arise, recognise the volatile grant environment as well as allowing for the payment of any liabilities which would arise should the company cease to operate. Any call upon the use of reserves will be at the approval of the Executive Committee which will examine the rationale for doing so and agree an amount where appropriate. 

At 31 March 2024, the level of “free reserves”, excluding fixed assets and designated funds was £780,727 (2023 - £666,459) which equates to over 5 months' expenditure. 

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. 

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## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **Plans for future periods** 

Our Chief Executive, Celine McStravick completed her first year in post and has provided strong and visible leadership in both our organisation and to the voluntary and community sector. Building influential relationships across local, regional and national governments, and with senior colleagues across public sector and wider civic society. We will rigorously advocate for our sector on key issues including fair and sustainable funding policies, valuing our sector’s knowledge and ensuring that our sector is included in key policy developments . NICVA will continue with its collaborative approach to develop meaningful solutions to tackle key challenges in areas such as economic inactivity, digital transformation, workforce recruitment, retention and capacity building and reducing inequalities across our communities. 

This coming year will see NICVA host its Future Thinking Summit 2024, a landmark conference for the voluntary, community, and social enterprise (VCSE) sector in Northern Ireland. Modelled after the successful Scottish Gathering and the renowned annual Wheel Conference, this summit will showcase the voluntary and community sector, bringing together leaders, influencers, and changemakers to address key issues, share best practices, and drive meaningful social change. 

NICVA will also continue to invest in the organisation to strengthen our team and facilities to best serve Members and the voluntary and community sector. We will implement the structures agreed as part of our governance and organisational reviews and will develop further plans for upgrading both physical and technological infrastructure. 

## **Structure, governance and management** 

## **Governing document** 

The Northern Ireland Council for Voluntary Action (NICVA) is a company limited by guarantee governed by its Memorandum and Articles of Association, dated 1 August 1944, and amended as at 5 September 2001, 20 November 2009, 19 November 2010, 10 December 2015 and 11 December 2020. 

## **Appointment of Executive Committee** 

NICVA is governed by an Executive Committee elected by its member organisations on an annual basis through a postal ballot using the single transferable vote system.  All NICVA members are invited to nominate to the Committee which consists of 12 people elected for a three-year period.  Elected members, on completion of their three-year term, may stand for re-election if they so wish.  One third (or the number nearest one third) of the Committee so elected must retire at each annual general meeting, those longest in office retiring first.  For this financial year, there were three places for Executive Committee members.  Following a formal process, three nominations were received.  With three nominees and three places available, it was deemed unnecessary to carry out an election.  The three nominees were duly elected at the AGM. 

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: 

Ms O Lyner (Resigned 30 September 2024) Ms C Brooks Ms D Hayward Ms Patricia Lewsley-Mooney CBE Mr L Devine Ms B Arthurs Ms O Black Ms H Weir (Resigned 1 October 2023) Mr S Dallas Ms S E Didrichsen (Resigned 5 August 2024) Ms A Roberts Ms M Cavanagh Mr D Nutt (Appointed 8 December 2023) 

- 5 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **Committee induction and training** 

New Executive Committee members undergo induction training to brief them on roles and responsibilities and their legal obligations under charity and company law, the Committee and the decision-making processes, the strategic and operational planning processes, the organisational structure, and key organisational activities. Executive Committee members are provided with copies of the NICVA Governance Manual which includes the following: 

- NICVA Memorandum and Articles of Association 

- NICVA Vision Mission & Values 

- Role Description for Executive Committee members 

- Role Description for Chair of Executive Committee 

- Role Description for Vice Chair of Executive Committee 

- Role of the Resources Committee 

- Role Description of Company Secretary 

- Chief Executive Job description 

- NICVA Conflicts of Interest Policy 

- NICVA organisational chart 

- NICVA Finance Procedures 

- NICVA’s Equal Opportunities Policy 

- NICVA Complaints Procedure 

- NICVA Strategy 2021-2026 

- NICVA Risk Register 

## **Organisational structure** 

The Executive Committee ensures the good governance of the organisation by setting its strategic objectives and policy direction through NICVA’s five-year strategic plan, and monitoring progress on this through the annual operational planning process.  The Committee meets a minimum of six times per year and the Resources SubCommittee which deals with the human and financial resources of the organisation meets on a quarterly basis. The Chief Executive, appointed by the Committee, manages the day-to-day operations of the organisation.  To facilitate effective operations, the Chief Executive has delegated authority for operational matters including the application and monitoring of strategic and operational objectives. 

## **Related parties** 

NICVA is an independent organisation, and all operations are carried out in accordance with this.  By the nature of the objects of the charity, NICVA works closely with its members, representing their interests to government bodies and funders as appropriate. NICVA continues to support its social economy business, Sector Matters Limited, a wholly owned subsidiary of NICVA, which was established in November 2009. 

## **Risk management** 

Financial risks are assessed by the organisation through the Resources Committee on a quarterly and annual basis.  Core funding is provided by the Department for Communities (DfC) which periodically conducts a Risk Assessment on all funded organisations.  NICVA has retained its low risk status demonstrating that robust financial systems and controls are in place.  As part of the governance review process, the NICVA Risk Register was reviewed and updated during the year.  NICVA continues to monitor all procedures associated with risk management. 

## **Pay policy for senior staff** 

The Trustees (Executive Committee) all give of their time freely and no Trustee received remuneration in the year. 

The organisation has adapted the National Joint Council (NJC) pay scales for its use for many years following an independent job evaluation. The result of the job evaluation was a recommendation of pay points for each grade within the organisation including the Senior Management Team.  These pay scales were set based on an external benchmarking exercise against roles with similar job duties and levels of responsibility. 

- 6 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **Funds held as custodian trustee** 

NICVA administers the Cheques for Charity scheme whereby they receive, claim gift aid and hold monies on behalf of donors and disburse according to their instructions. Details of these restricted funds are included within notes 19 and 27 to the accounts. 

## **Conduit funding** 

NICVA is responsible for receiving and distributing funds on behalf of the Department for Communities. £199,316 (2023 - £209,163) was received and distributed during the year and no balance was held in relation to these monies at 31 March 2024. 

## **Statement of trustees' responsibilities** 

The trustees, who are also the directors of Northern Ireland Council for Voluntary Action for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. 

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 Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The trustees are responsible for keeping adequate accounting records that 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. 

- 7 - 



NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Small companleg •xempllon
In preparing Ihis report. the directors have taken advanlag8 of the small Companies exemptions provided by
section 415A of the Companies Act 2006.
Dl#closure ol Informatlon to audltor
Each of Ihe Iruslees has confirmed that there is no information of which they are aware which is relevant to the
audit, but of which Ihe auditor is unaware. They have further ￿nfirMed that they hav8 taken appropriate steps to
identify such relevant information and to establish that the auditor is aware of such information.
The Iruslees. report was apprpved by the 8oard of Twstees.
Ms C M¢Str•vlck
Company Secretary
Oaled..

## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 


## **INDEPENDENT AUDITOR'S REPORT** 

## **TO THE MEMBERS OF NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **Opinion** 

We have audited the financial statements of Northern Ireland Council for Voluntary Action (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, the financial statements: 

- give a true and fair view of the state of the charitable company'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 Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis 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 _Auditor's 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 relating to going concern** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting 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 relevant sections of this report. 

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## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 


## **INDEPENDENT AUDITOR'S REPORT (CONTINUED)** 

## **TO THE MEMBERS OF NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **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 contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the financial statements themselves. 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 our audit: 

- the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and 

- the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are 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 directors' report included within 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 records and returns; or 

- certain 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 preparing the trustees' report and from the requirement to prepare a strategic report. 

- 10 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 


## **INDEPENDENT AUDITOR'S REPORT (CONTINUED)** 

## **TO THE MEMBERS OF NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **Responsibilities of trustees** 

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor's responsibilities 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 influence the economic decisions of users taken on the basis of these financial statements. 

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. 

- 11 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 


## **INDEPENDENT AUDITOR'S REPORT (CONTINUED)** 

## **TO THE MEMBERS OF NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **Extent to which the audit was considered capable of detecting irregularities, including fraud** 

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. 

In identifying and assessing potential risks of material misstatement in respect of irregularities, including fraud and non-compliances with laws and regulations, we considered the following: 

- The nature of the industry and sector, control environment and business performance, including the company’s remuneration policies for directors, bonus levels and performance targets, if any; 

- 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 the company’s documentation of their policies and procedures relating to: 

   - Identifying, evaluating and complying with laws and regulations and whether they were aware of any instance of non-compliance; 

   - Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and 

   - The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; 

- The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud. 

As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud and identified the greatest potential for fraud in income recognition.  In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. 

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements.  The key laws and regulations we considered in this context included the Companies Act 2006, and local tax legislation. 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty. 

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## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 


## **INDEPENDENT AUDITOR'S REPORT (CONTINUED)** 

## **TO THE MEMBERS OF NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **Audit response to risks identified** 

Our procedures to respond to the risks identified included the following: 

- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; 

- Enquiring of management concerning actual and potential litigation and claims; 

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; 

- Reading minutes of meetings of those charged with governance and reviewing correspondence with tax authorities; and 

- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. 

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards.  In addition, as with any audit, there remains a higher risk of non-detection of irregularities, as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.  We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations. 

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. 

- 13 - 



CMAA71RBD ACCOUWThNT•
NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE MEMBERS OF NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION
ofour report
This report is made solely to the charitable company's members, as a body. in accordance wlth Chapter 3 of Part 16
of the Companles Act 20Ck8. Our audit work has been undertaken so that we rn￿h1 stale lo the charitable Company's
members those matters we are required lo slate lo them in an auditorfs report and for no other purpose. To the
lullesl extent permitted by law, we do not a￿ept or assume responslblllty to anyone other than the charttable
¢ompany and the charltable company's members as a b¢xly, for our audlt wo￿, for th1$ report, or for the opinion8 we
have forme(l.
Mrn Susan Dunlop FCA (S•nlor Statulory Audltorl
for and on behaw of GM¢G BELFAST
2 December 2024
Charternd Accountant8
Statutory Audltor
Alfred House
19 Alfred Street
Belfast
BT2 8EQ
14-
Alfred Hou*e
19 Alfrnl Street
BFUAsr Fr? 8EQ
DX39xo NR Belh￿s0
Century Hous
17 MwMlevl]]c Street
LISBURN
BT28 2GN
62 3PB
Tdi +44 (0)28 9031 IA13
. +44 (0)28 9031 0777
Ttli +44 {0)28 9260 TJ55
Fax: +44 (0)28 9260 16s6
T•1: +44 (0)28 3833 2801
F￿. +44 (0)28 3835 0293

## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** 

## **FOR THE YEAR ENDED 31 MARCH 2024** 

|**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2024**<br>**2024**<br>**Notes**<br>**£**<br>**£**<br>**Income from:**<br>Donations and<br>legacies<br>**3**<br>955,653<br>54,351<br>Charitable activities<br>**4**<br>643,473<br>52,072<br>Investments<br>**5**<br>24,821<br>-<br>Movement in<br>pension provision<br>**6**<br>(144,240)<br>-<br>**Total income**<br>1,479,707<br>106,423<br>**Expenditure on:**<br>Raising funds<br>**7**<br>8,488<br>-<br>Charitable activities<br>**8**<br>1,503,993<br>182,080<br>**Total expenditure**<br>1,512,481<br>182,080<br>**Net expenditure for the**<br>**year/**<br>**Net movement in funds**<br>(32,774)<br>(75,657)<br>Fund balances at 1 April<br>2023<br>1,083,623<br>1,112,371<br>**Fund balances at 31**<br>**March 2024**<br>1,050,849<br>1,036,714|**Total**<br>**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2024**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>**£**<br>1,010,004<br>773,695<br>73,980<br>695,545<br>598,142<br>210,332<br>24,821<br>5,799<br>-<br>(144,240)<br>1,952<br>-<br>1,586,130<br>1,379,588<br>284,312<br>8,488<br>5,027<br>-<br>1,686,073<br>1,425,235<br>257,375<br>1,694,561<br>1,430,262<br>257,375<br>(108,431)<br>(50,674)<br>26,937<br>2,195,994<br>1,134,297<br>1,085,434<br>2,087,563<br>1,083,623<br>1,112,371|**Total**<br>**2023**<br>**£**<br>847,675<br>808,474<br>5,799<br>1,952<br>1,663,900<br>5,027<br>1,682,610<br>1,687,637<br>(23,737)<br>2,219,731<br>2,195,994|
|---|---|---|



The statement of financial activities includes all gains and losses recognised in the year. 

All income and expenditure derive from continuing activities. 

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 

- 15 - 



NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Notes
Flxed 883ets
Tangible assets
Investmenls
13
14
1.288,054
1.339.638
1,286,055
1.339,839
Current a•8ets
D6b¢ors
Cash at bank and in hand
395,480
2,022.736
424.197
2,e08,539
2,418,216
3,032,738
Credltorn: amounts lalllng due wlthln
one year
11,422,588)
(2,110,484)
Net current 858ets
995.828
922.252
Total a18ets le•• current Ilabllltl••
2.281.683
2,261,891
Provl8lon• for Ilabilithi
Defined benefil pension liabilily
194,120
65,897
(194.120)
(65,897)
Net a88ets
2,087,583
2,195.994
Incomo funds
Re51rided fund8
nrestric
Designated fund5
General unrestricted funds
Pension wesefve
19
1,036,714
1.112,371
20
147,303
1,097.666
(194,120)
151.538
997,984
(85.897)
1.050,849
1,083,623
2,087,563
2,195,994
These financial statements have been prepared in accordance wilh the provi&'ons appllcable lo companies subject
lo the small companles regime.
Th8 financial statemenls were approved by ihe Truslees on .
. and signed on their behalf by:
Ms
Brooks
Trustee
Mr L Devine
Trustee
Company R¢gl8tratlon No. N1001792
16-

## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **STATEMENT OF CASH FLOWS** 

## **FOR THE YEAR ENDED 31 MARCH 2024** 

|**Notes**<br>**Cash flows from operating activities**<br>Cash absorbed by operations<br>**25**<br>**Investing activities**<br>Purchase of tangible fixed assets<br>Investment income received<br>**Net cash generated from/(used in)**<br>**investing activities**<br>**Net cash used in financing activities**<br>**Net decrease in cash and cash equivalents**<br>Cash and cash equivalents at beginning of year<br>**Cash and cash equivalents at end of year**|**2024**<br>**£**<br>**£**<br>(593,968)<br>(16,656)<br>24,821<br>8,165<br>-<br>(585,803)<br>2,608,539<br>2,022,736|**2023**<br>**£**<br>**£**<br>(223,460)<br>(33,232)<br>5,799<br>(27,433)<br>-<br>(250,893)<br>2,859,432<br>2,608,539|
|---|---|---|



- 17 - 



**NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** 

## **1 Accounting policies** 

## **Charity information** 

Northern Ireland Council for Voluntary Action is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 61 Duncairn Gardens, Belfast, BT15 2GB. 

## **1.1 Accounting convention** 

The financial statements have been prepared in accordance with the Companies Act 2006 and "Accounting and Reporting by 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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102. 

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 

## **1.2 Going concern** 

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 

## **1.3 Charitable funds** 

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. 

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. 

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 

Investment income, gains and losses are allocated to the appropriate fund. 

## **1.4 Incoming resources** 

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 

- 18 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **1 Accounting policies (Continued)** 

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 

Where funding is received and subsequently distributed to other organisations in accordance with the donor’s instructions it is treated as conduit funding and, therefore, is not recognised in the Statement of Financial Activities. 

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. 

## **1.5 Resources expended** 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. 

Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. 

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. 

Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities. 

All expenditure is inclusive of irrecoverable VAT. 

## **1.6 Tangible fixed assets** 

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: 

Leasehold land and buildings 2% and 5% straight line Fixtures and fittings 15% reducing balance Computers 33.33% straight line 

Land is not depreciated. 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 

- 19 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **1 Accounting policies (Continued)** 

## **1.7 Fixed asset investments** 

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date.  Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. 

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. 

## **1.8 Impairment of fixed assets** 

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 

## **1.9 Cash and cash equivalents** 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

## **1.10 Financial instruments** 

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

## _**Basic financial assets**_ 

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 

## _**Basic financial liabilities**_ 

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 

## _**Derecognition of financial liabilities**_ 

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. 

- 20 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **1 Accounting policies (Continued)** 

## **1.11 Taxation** 

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

## **1.12 Employee benefits** 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

## **1.13 Retirement benefits** 

In prior years the charity contributed to a multi-employer defined benefit pension scheme, NICPS, and to The Growth Plan, and the charity is committed to making payments of £2,782 per month to make good prior year deficits. The Schemes closed on 31 March 2009. 

A provision is recognised for the contributions payable that arose from the agreements with NICPS and The Growth Plan to fund the prior year deficits. 

NICVA operates a Qualifying Workplace Pension Scheme provided by Legal And General. Staff are auto enrolled to the scheme at the statutory minimum contribution rates. The NICVA executive have offered an opportunity for employees to increase their contributions to a higher tier whereby if an employee contributes 5% the employer will also contribute 5%. Contributions to this Scheme by the charity have therefore been accounted for by charging costs as payments accrue. 

## **1.14 Leases** 

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease. 

## **1.15 Consolidation** 

In the opinion of the trustees, the company and its subsidiary undertaking comprise a small sized group. The company has therefore taken advantage of the exemption provided by Section 399(2A) of the Companies Act 2006 not to prepare group accounts. 

This is not in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' which requires consolidated accounts to be prepared. The trustees believe that the results of the subsidiary company are immaterial to the group as a whole and, therefore, these financial statements present information about the company as an individual undertaking and not about its group. 

## **2 Critical accounting estimates and judgements** 

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 

- 21 - 



**NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **2 Critical accounting estimates and judgements (Continued)** 

## **Key sources of estimation uncertainty** 

## **Fixed Assets** 

The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The directors regularly review these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have a significant impact on depreciation and amortisation charges for the period. Detail of the useful lives is included in the accounting policies. 

## **Debtors** 

Short term debtors are measured at transaction price, less any impairment. Impairment of such debtors involves some estimation uncertainty. 

## **Multi-employer Defined Benefit Pension Scheme Liability** 

The pension scheme liability is in relation to the contributions payable that have arisen from an agreement with a multi-employer plan to fund a deficit and is based on certain assumptions as detailed in note 18. 

## **Restricted and Unrestricted Funds** 

Judgements are made in relation to allocation of income and expenditure to restricted and unrestricted funds. The directors consider it appropriate to allocate these funds based on interpretation of donations received. 

## **3 Donations and legacies** 

|**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>Donations<br>5,589<br>-<br>Resource services<br>-<br>-<br>Department for<br>Communities - Core<br>Activities<br>790,288<br>-<br>Charities Aid Foundation<br>(via NCVO)<br>159,776<br>-<br>Cheques for Charity<br>-<br>54,351<br>955,653<br>54,351|**Total**<br>**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2024**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>**£**<br>5,589<br>1,904<br>-<br>-<br>67<br>-<br>790,288<br>740,424<br>-<br>159,776<br>31,300<br>-<br>54,351<br>-<br>73,980<br>1,010,004<br>773,695<br>73,980|**Total**<br>**2023**<br>**£**<br>1,904<br>67<br>740,424<br>31,300<br>73,980|
|---|---|---|
|||847,675|



- 22 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **4 Charitable activities** 

|Earned income<br>Services provided under contract<br>Performance related grants<br>Cheques for Charity<br>Less: deferred income<br>**Analysis by fund**<br>Unrestricted funds<br>Restricted funds<br>**Performance related grants**<br>Department for Communities - Shared Island<br>Department for Communities - Cost of Living<br>Department for Communities - Fuel Grant<br>Dormant Accounts<br>Halifax Foundation - Special Initiatives Programme|**2024**<br>**£**<br>384,489<br>265,754<br>52,072<br>22<br>(6,792)<br>695,545<br>643,473<br>52,072<br>695,545<br>15,000<br>-<br>-<br>37,072<br>-<br>52,072|**2023**<br>**£**<br>367,598<br>215,377<br>200,857<br>2,820<br>21,822|
|---|---|---|
|||808,474|
|||598,142<br>210,332|
|||808,474|
|||15,000<br>170,000<br>3,000<br>12,357<br>500|
|||200,857|



Services provided under contract includes Community Foundation NI £175,793 (2023 - £139,714), IFI contracts £56,318 (2023 - £nil), Belfast City Council £nil (2023 - £75,663) and other contracts £33,643 (2023 - £nil). 

The Board considers the Charity to have one main charitable activity, being the alleviation of disadvantage amongst communities, families and individuals through the provision of information, advice, training and development services to community and voluntary groups in Northern Ireland. 

- 23 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** 

## **FOR THE YEAR ENDED 31 MARCH 2024** 

## **5 Investments** 

||**Unrestricted **|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Interest receivable|24,821|5,799|



## **6 Movement in pension provision** 

||**Unrestricted Unrestricted**|**Unrestricted Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Unwinding of the discount factor (interest expense)|(2,990)|(1,919)|
|Remeasurements - impact of any change in assumptions|(2,651)|3,871|
|Remeasurements - amendments to the contribution schedule|(138,599)|-|
||(144,240)|1,952|



Further information in relation to the pension provision is provided in note 18. 

## **7 Raising funds** 

|||**Unrestricted **|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2024**|**2023**|
|||**£**|**£**|
|Fundraising|and publicity|||
|Advertising||8,488|5,027|
|||8,488|5,027|



- 24 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **8 Charitable activities** 

|Staff costs<br>Depreciation and impairment<br>Recruitment<br>Travel and subsistence<br>Affiliation fees, reference books and publications<br>Research costs<br>Consultancy<br>Training course expenses<br>Seminars and conferences<br>Printing and stationery<br>Telephone and postage<br>Cheques for charity<br>Third party grant expenditure<br>Pension scheme management costs<br>Share of support costs (see note 9)<br>Share of governance costs (see note 9)<br>**Analysis by fund**<br>Unrestricted funds<br>Restricted funds|**2024**<br>**£**<br>904,304<br>15,080<br>4,031<br>11,845<br>1,403<br>15,000<br>66,296<br>135,815<br>49,957<br>38,727<br>15,431<br>52,523<br>737<br>9,588<br>1,320,737<br>357,044<br>8,292<br>1,686,073<br>1,503,993<br>182,080<br>1,686,073|**2023**<br>**£**<br>935,687<br>18,178<br>19,026<br>9,230<br>1,040<br>20,224<br>37,811<br>102,503<br>51,833<br>39,000<br>14,654<br>77,323<br>348<br>9,536|
|---|---|---|
|||1,336,393<br>335,766<br>10,451|
|||1,682,610|
|||1,425,235<br>257,375|
|||1,682,610|



- 25 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

|**9**<br>**Support costs**<br>Staff costs<br>Depreciation<br>Printing and stationery<br>Telephone and postage<br>Rent, insurance and<br>service charges<br>Cleaning, heat and light<br>Repairs and<br>maintenance<br>Equipment rental<br>General expenses<br>Bank charges and hire<br>purchase interest<br>Loss on disposal<br>Audit fees<br>Legal and professional<br>Analysed between<br>Charitable activities|**Support**<br>**costs**<br>**Governance**<br>**costs**<br>**£**<br>**£**<br>181,601<br>-<br>55,158<br>-<br>6,834<br>-<br>2,723<br>-<br>37,655<br>-<br>36,596<br>-<br>27,950<br>-<br>785<br>-<br>5,637<br>-<br>2,105<br>-<br>-<br>-<br>-<br>6,850<br>-<br>1,442<br>357,044<br>8,292<br>357,044<br>8,292|**2024**<br>**£**<br>181,601<br>55,158<br>6,834<br>2,723<br>37,655<br>36,596<br>27,950<br>785<br>5,637<br>2,105<br>-<br>6,850<br>1,442<br>365,336<br>365,336|**Support**<br>**costs**<br>**Governance**<br>**costs**<br>**£**<br>**£**<br>178,352<br>-<br>53,114<br>-<br>6,873<br>-<br>2,577<br>-<br>32,970<br>-<br>33,955<br>-<br>19,259<br>-<br>1,947<br>-<br>4,858<br>-<br>1,812<br>-<br>49<br>-<br>-<br>6,950<br>-<br>3,501<br>335,766<br>10,451<br>335,766<br>10,451|**2023**<br>**£**<br>178,352<br>53,114<br>6,873<br>2,577<br>32,970<br>33,955<br>19,259<br>1,947<br>4,858<br>1,812<br>49<br>6,950<br>3,501|
|---|---|---|---|---|
|||||346,217|
|||||346,217|



Governance costs includes payments to the auditors of £6,300 (2023- £6,120) for audit fees. 

## **10 Trustees** 

None of the trustees (or any persons connected with them) received any remuneration during the year, but one of them was reimbursed a total of £49 for travelling expenses (2023 - £332). 

## **11 Employees** 

The average monthly number of employees during the year was: 

|**2024**|**2023**|
|---|---|
|**Number**|**Number**|
|28|31|



- 26 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

|**11**<br>**Employees (Continued)**<br>**Employment costs**<br>Wages and salaries<br>Social security costs<br>Other pension costs<br>The number of employees whose annual remuneration was more than £60,000<br>is as follows:<br>In the band £60,001 - £70,000<br>In the band £80,001 - £90,000|**2024**<br>**£**<br>954,356<br>93,349<br>38,200<br>1,085,905<br>**2024**<br>**Number**<br>-<br>1|**2023**<br>**£**<br>983,877<br>89,835<br>40,327|
|---|---|---|
|||1,114,039|
|||**2023**<br>**Number**<br>1<br>1|



## **12 Taxation** 

The charity is exempt from income tax and capital gains tax to the extent that its income and gains are applied for charitable purposes. No tax charge has arisen in the year. 

## **13 Tangible fixed assets** 

|**Cost**<br>At 1 April 2023<br>Additions<br>Disposals<br>At 31 March 2024<br>**Depreciation and impairment**<br>At 1 April 2023<br>Depreciation charged in the year<br>Eliminated in respect of disposals<br>At 31 March 2024<br>**Carrying amount**<br>At 31 March 2024<br>At 31 March 2023|**Leasehold**<br>**land and**<br>**buildings**<br>**Fixtures and**<br>**fittings**<br>**£**<br>**£**<br>2,109,407<br>247,313<br>4,740<br>9,425<br>-<br>-<br>2,114,147<br>256,738<br>848,798<br>189,277<br>46,244<br>8,914<br>-<br>-<br>895,042<br>198,191<br>1,219,105<br>58,547<br>1,260,609<br>58,036|**Computers**<br>**£**<br>137,056<br>2,491<br>(8,182)<br>131,365<br>116,065<br>15,080<br>(8,182)<br>122,963<br>8,402<br>20,993|**Total**<br>**£**<br>2,493,776<br>16,656<br>(8,182)|
|---|---|---|---|
||||2,502,250|
||||1,154,140<br>70,238<br>(8,182)|
||||1,216,196|
||||1,286,054|
||||1,339,638|



Included in land and buildings is land at a cost of £67,051 (2023 - £67,051) which is not depreciated. 

- 27 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** 

## **FOR THE YEAR ENDED 31 MARCH 2024** 

## **14 Fixed asset investments** 

|**Cost or valuation**<br>At 1 April 2023 & 31 March 2024<br>**Carrying amount**<br>At 31 March 2024<br>At 31 March 2023<br>Other investments comprise:<br>**Notes**<br>Investments in subsidiaries<br>**24**<br>All fixed asset investments are held in the UK.<br>**15**<br>**Debtors**<br>**Amounts falling due within one year:**<br>Trade debtors<br>Amounts owed by fellow group undertakings<br>Other debtors<br>Prepayments and accrued income<br>**16**<br>**Creditors: amounts falling due within one year**<br>**Notes**<br>Other taxation and social security<br>Deferred income<br>**17**<br>Trade creditors<br>Other creditors<br>Accruals and deferred income|**Other**<br>**investments**<br>1<br>1<br>1<br>**2024**<br>**2023**<br>**£**<br>**£**<br>1<br>1<br>**2024**<br>**2023**<br>**£**<br>**£**<br>106,221<br>180,184<br>13,000<br>13,000<br>263,926<br>220,228<br>12,333<br>10,785<br>395,480<br>424,197<br>**2024**<br>**2023**<br>**£**<br>**£**<br>23,971<br>24,777<br>1,176,200<br>1,169,408<br>65,052<br>60,229<br>98,901<br>784,661<br>58,464<br>71,409<br>1,422,588<br>2,110,484|
|---|---|



- 28 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** 

## **FOR THE YEAR ENDED 31 MARCH 2024** 

|**17**<br>**Deferred income**<br>Other deferred income<br>Deferred income is included in the financial statements as follows:<br>Deferred income is included within:<br>Current liabilities<br>Movements in the year:<br>Deferred income at 1 April 2023<br>Released from previous periods<br>Resources deferred in the year<br>Deferred income at 31 March 2024|**2024**<br>**£**<br>1,176,200<br>**2024**<br>**£**<br>1,176,200<br>1,169,408<br>(39,408)<br>46,200<br>1,176,200|**2023**<br>**£**<br>1,169,408<br>**2023**<br>**£**<br>1,169,408<br>1,191,230<br>(61,230)<br>39,408<br>1,169,408|
|---|---|---|



The deferred income arises in respect of income being received in the year which relates to a future accounting period and in respect of income received in the year where conditions for recognition have not been satisfied.  The income will be released to the Statement of Financial Activities in the period to which it relates. 

## **18 Retirement benefit schemes** 

## **Defined contribution schemes** 

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 

The charge to profit or loss in respect of defined contribution schemes was £38,200 (2023 - £40,327). 

- 29 - 



**NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **18 Retirement benefit schemes (Continued)** 

## **Defined benefit schemes** 

In prior years the Charity contributed to the Northern Ireland Charities Pension Scheme (‘the Scheme’), which is a funded multi-employer defined benefit scheme. The Scheme is not contracted-out of the State scheme. 

The Northern Ireland Charities Pension Scheme closed to future accrual on 31 March 2009. There is currently no intention to wind-up the Scheme and it continues in paid-up form. 

The Pension Trust commissions an actuarial valuation of the Scheme every three years. The main purpose of the valuation is to determine the financial position of the Scheme in order to determine the level of future contributions required so that the Scheme can meet its pension obligations as they fall due. 

The actuarial valuation assesses whether the Scheme’s assets at the valuation date are likely to be sufficient to pay the pension benefits accrued by members as at the valuation date. Asset values are calculated by reference to market levels. Accrued pension benefits are valued by discounting expected future benefit payments using a discount rate calculated by reference to the expected future investment returns. 

During the year NICVA paid contributions of £25,605 to cover the deficit payments and Scheme management costs. 

It is not possible in the normal course of events to identify the share of underlying assets and liabilities belonging to individual participating employers. This is because the Scheme is a multi-employer scheme, where the assets are co-mingled for investment purposes, and benefits are paid out of total Scheme assets. 

The last formal completed valuation of the Scheme was performed as at 30 September 2022 by a professionally qualified actuary using the ‘projected unit credit’ method. The market value of the Scheme’s assets at the valuation date was £22.8 million. The valuation revealed a shortfall of assets compared to liabilities of £3.2 million. 

The results of the 2022 valuation means a new deficit recovery plan is required to fund the deficit of £3.2 million. This will run until 30 June 2037. 

The Scheme Actuary has prepared an Actuarial Report that provides an approximate update on the funding position of the Scheme as at 30 September 2023. Such a report is required by legislation for years in which a full actuarial valuation is not carried out. The funding update revealed a decrease in the assets of the Scheme to £18.6 million (from £22.8 million at 30 September 2022) and indicated an increase in the shortfall of assets compared to liabilities of approximately £4.4m (from £3.2 million at 30 September 2022), equivalent to a past service funding level of 81% (88% at 30 September 2022). 

Following a change in legislation in September 2005 there is a potential debt on the employer that could be levied by the Trustee of the Scheme. The debt is due in the event of the employer ceasing to participate in the Scheme or the Scheme winding up. 

The debt for the Scheme as a whole is calculated by comparing the liabilities for the Scheme (calculated on a buy-out basis i.e. the cost of securing benefits by purchasing annuity policies from an insurer, plus an allowance for expenses) with the assets of the Scheme. If the liabilities exceed assets there is a buy-out debt. 

- 30 - 



**NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **18 Retirement benefit schemes (Continued)** 

The leaving employer’s share of the buy-out debt is the proportion of the Scheme’s liability attributable to employment with the leaving employer compared to the total amount of the Scheme’s liabilities (relating to employment with all the currently participating employers). The leaving employer’s debt therefore includes a share of any ‘orphan’ liabilities in respect of previously participating employers. The amount of the debt therefore depends on many factors including total Scheme liabilities, Scheme investment performance, the liabilities in respect of current and former employees of the employer, financial conditions at the time of the cessation event and the insurance buy-out market. The amounts of debt can therefore be volatile over time. 

Under FRS 102, where an entity participates in a multi-employer plan, and the entity had entered into an agreement with the multi-employer plan that determines how the entity will fund a deficit, the entity shall recognise a liability for the contributions payable that arise from the agreement and the resulting expense in the Statement of Financial Activities. 

The liabilities for the Northern Ireland Charities Pension Scheme as noted above, and The Growth Plan, which is also a funded multi-employer defined benefit scheme which the Charity contributed to in prior years, are shown in the tables below. 

Movements in the present value of defined benefit obligations: 

|Liabilities at 1 April 2023<br>Plan introductions, changes, curtailments and settlements<br>Benefits paid<br>Actuarial losses<br>Interest cost<br>At 31 March 2024|**2024**<br>**£**<br>65,897<br>138,599<br>(16,017)<br>2,651<br>2,990<br>194,120|
|---|---|



The total provision is £194,120 (2023 - £65,897). 

The above provisions have assumed a discount rate of 4.71% per annum (2023 - 5.15% per annum) for the Northern Ireland Charities Pension Scheme, and 5.31% per annum (2023 - 5.52% per annum) for The Growth Plan, and 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. 

NICVA believes that as a responsible employer it should provide the opportunity of a pension scheme for all staff.  NICVA operates a Qualifying Workplace Pension Scheme provided by Legal And General.  Staff are auto enrolled to the scheme at the statutory minimum contribution rates.  The NICVA executive have offered an opportunity for employees to increase their contributions to a higher tier whereby if an employee contributes 5% the employer will also contribute 5%. 

- 31 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **19 Restricted funds** 

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: 

|**Balance at**<br>**1 April 2022**<br>**£**<br>Atlantic Philanthropies (Property)<br>262,200<br>Belfast Regeneration Office (Property)<br>195,208<br>Big Lottery (Property)<br>300,960<br>DSD Capital Grants<br>18,050<br>CFC Client Funds<br>158,935<br>Peace lll Vital Links<br>59<br>Dormant Accounts Fund NI<br>-<br>Peace IV - The Next Chapter<br>22<br>Department for Communities Projects<br>150,000<br>Halifax<br>-<br>1,085,434|**Movement in funds**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**Balance at**<br>**1 April 2023**<br>**£**<br>**£**<br>**£**<br>-<br>(9,200)<br>253,000<br>-<br>(6,849)<br>188,359<br>-<br>(10,560)<br>290,400<br>-<br>(656)<br>17,394<br>73,980<br>(77,323)<br>155,592<br>-<br>(9)<br>50<br>12,357<br>(12,181)<br>176<br>-<br>(22)<br>-<br>188,000<br>(130,600)<br>207,400<br>9,975<br>(9,975)<br>-<br>284,312<br>(257,375)<br>1,112,371|**Movement in funds**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**31**<br>**£**<br>**£**<br>-<br>(9,200)<br>-<br>(6,849)<br>-<br>(10,560)<br>-<br>(651)<br>54,351<br>(52,523)<br>-<br>(8)<br>37,072<br>(14,889)<br>-<br>-<br>15,000<br>(87,400)<br>-<br>-<br>106,423<br>(182,080)|**Balance at**<br>**March 2024**<br>**£**<br>243,800<br>181,510<br>279,840<br>16,743<br>157,420<br>42<br>22,359<br>-<br>135,000<br>-|
|---|---|---|---|
||||1,036,714|



- 32 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **19 Restricted funds (Continued)** 

## Atlantic Philanthropies (Property) 

A restricted donation to assist with the cost of building NICVA’s regional community resource centre at Duncairn Gardens, Belfast. 

## Belfast Regeneration Office (Property) 

A restricted grant to assist with the cost of building NICVA’s regional community resource centre at Duncairn Gardens, Belfast. 

## Big Lottery (Property) 

A restricted grant to assist with the cost of building NICVA’s regional community resource centre at Duncairn Gardens, Belfast. 

## DSD – Capital Grants 

A fund from year end additional grants from Department for Social Development for specific projects. 

## Cheques For Charity (CFC) Client Funds 

A fund to receive, claim gift aid and hold monies on behalf of donors. NICVA disburses the monies according to the donors instructions. 

## Peace III - Vital Links 

The Vital Links project is part-financed by the European Union's European Regional Development Fund through the EU Programme for Peace and Reconciliation (PEACE III) managed by the Special EU Programmes Body. Funded for three years, the aim of the Vital Links project is to increase the interaction and understanding of the key institutions, the voluntary and community sector and foster and promote positive engagement. Vital Links delivers a programme of free training, seminars, conferences and publications. 

## Dormant Accounts Fund NI 

The National Lottery Northern Ireland Dormant Account Funds in Jan 2023 is to futureproof digital systems to ensure its support and services for the sector. Over the course of the two year project we will seek feedback from stakeholders to redesign and redevelop the NICVA sites. 

## Peace IV - The Next Chapter 

NICVA launched a two-year, cross-border partnership project ‘The Next Chapter’. The project is funded under the PEACE IV programme and the lead partner is Politics Plus. The project aims to encourage and support greater participation by women in politics and public life by establishing 10 local networks or ‘Chapters’ involving 300 women from across Northern Ireland and the Border Counties and providing networking, development, and training opportunities and supporting the development of local chapter projects. 

- 33 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **19 Restricted funds (Continued)** 

## Department for Communities projects 

## **Project Title: DfC Cost of Living Proposals** 

Funding was received to provide the sector with additional support to navigate the Cost of Living Crisis. With this funding organisations within the sector were able to apply for bursaries to access Grant Tracker and accredited Institute of Leadership and Management training. With the bursaries, organisations were able to build their capacity and sustainability with access to relevant funds and developing leadership skills within their organisation. In addition, NICVA held a six Cost of Living seminars across Northen Ireland in partnership with local networks, to establish the full extent of the impacts of the cost of living on the sector and to hear the stories behind the statistics. The findings were collated in a report and made available through the NICVA communication channels. 

## **Project Title: DfC Carbon Reduction Grant** 

NICVA received funding to work towards reducing its carbon footprint. This year NICVA’s boiler was replaced, and its heating system upgraded to ensure it was more energy efficient and environmentally friendly. 

## **Project Title: DfC Shared Island Programme - Phase II** 

This project was launched in partnership with the Wheel in Dec 21. It aims to promote closer collaboration between the voluntary and community sectors across the island of Ireland. It has five key themes; rural connectivity & sustainability; recovery from the Covid-19 pandemic; developing the island economy & social enterprise; digital connectedness & inclusion; and achieving a just transition to a de-carbonized and sustainable island. Following its launch in Dec 21, a series of events and activities were scheduled. The project ran throughout 2022/2023 and was continued into 2023/24. 

- 34 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **20 Designated funds** 

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: 

|**Balance at**<br>**1 April 2022**<br>**£**<br>Designated Premises Reserve<br>155,769<br>155,769<br>**21**<br>**Analysis of net assets between funds**<br>**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>Fund balances at 31<br>March 2024 are<br>represented by:<br>Tangible assets<br>429,119<br>856,935<br>Investments<br>1<br>-<br>Current assets/(liabilities)<br>815,849<br>179,779<br>Provisions and<br>pensions<br>(194,120)<br>-<br>1,050,849<br>1,036,714|**Resources**<br>**expended**<br>**Balance at**<br>**1 April 2023**<br>**Resources**<br>**expended**<br>**31**<br>**£**<br>**£**<br>**£**<br>(4,233)<br>151,536<br>(4,233)<br>(4,233)<br>151,536<br>(4,233)<br>**Total Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**2024**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>**£**<br>1,286,054<br>447,938<br>891,700<br>1<br>1<br>-<br>995,628<br>701,581<br>220,671<br>(194,120)<br>(65,897)<br>-<br>2,087,563<br>1,083,623<br>1,112,371|**Balance at**<br>**March 2024**<br>**£**<br>147,303<br>147,303<br>**Total**<br>**2023**<br>**£**<br>1,339,638<br>1<br>922,252<br>(65,897)<br>2,195,994|
|---|---|---|



## **22 Explanatory notes to the reserves funds** 

## **Unrestricted funds** 

## Designated Premises Reserve 

This is a designated fund NICVA established to facilitate the construction and maintenance of their premises at Duncairn Gardens, Belfast. 

The purpose of the fund is to ensure resources are retained for the upkeep of the conference facilities and offices to include general repair work, building maintenance and decorating, as and when required. 

## General Unrestricted Fund 

This fund is the result of NICVA's strategic objective to establish reserves which would allow NICVA to operate for 12 months without other sources of income. 

## Pension reserve 

The pension reserve represents contributions payable under an agreement with NICPS to fund prior year deficits. The transfer from unrestricted funds into the pension reserve relates to deficit contributions paid in the year. 

- 35 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

## **23 Related party transactions** 

## **Remuneration of key management personnel** 

The remuneration of key management personnel is as follows. 

||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Aggregate compensation|287,911|279,562|



The trustees have taken advantage of the exemption from disclosing related party transactions with other wholly owned group companies, in accordance with FRS 102. 

There were no other transactions with related parties requiring disclosure. 

## **24 Subsidiaries** 

Details of the charity's subsidiaries at 31 March 2024 are as follows: 

|**Name of undertaking**|**Registered**|**Nature of business**|**Class of**|**% Held**|
|---|---|---|---|---|
||**office**||**shares held**|**Direct Indirect**|
|Sector Matters Limited|Northern Ireland|The provision of HR, financial|Ordinary|100.00|
|||and other support services to|||
|||the voluntary and community|||
|||sector and to small|||
|||businesses.|||



The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows: 

|**Name of undertaking**|**Profit/(Loss)**|**Capital and**|
|---|---|---|
|||**Reserves**|
||**£**|**£**|
|Sector Matters Limited|(3,056)|(25,054)|



- 36 - 



## **NORTHERN IRELAND COUNCIL FOR VOLUNTARY ACTION** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** 

|**25**|**Cash generated from operations**|**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
||Deficit for the year|(108,431)|(23,737)|
||Adjustments for:|||
||Investment income recognised in statement of financial activities|(24,821)|(5,799)|
||Depreciation and impairment of tangible fixed assets|70,238|71,292|
||Difference between pension charge and cash contributions|128,223|(17,969)|
||Movements in working capital:|||
||Decrease in debtors|28,719|27,365|
||(Decrease) in creditors|(694,688)|(252,790)|
||Increase/(decrease) in deferred income|6,792|(21,822)|
||**Cash absorbed by operations**|(593,968)|(223,460)|
|**26**|**Analysis of changes in net funds**|||
||The charity had no debt during the year.|||



## **27 Cheques for charity** 

NICVA administers the Cheques for Charity scheme, whereby they receive, claim gift aid and hold monies on behalf of donors and disburse according to their instructions. During the year NICVA received £54,351 (2023 - £73,980) of Cheques for Charity donations, with £52,523 (2023 - £77,323) being dispersed to charitable organisations as instructed by the donors. 

## **28 Conduit funding** 

NICVA is responsible for receiving and distributing funds on behalf of the Department for Communities. During the year £199,316 (2023 - £209,163) was received and distributed and no balance was held in relation to these monies at 31 March 2024. 

## **29 Financial commitments, guarantees and contingent liabilities** 

(i) A portion of grants received may become repayable if the Charity fails to comply with the terms of the letter of offer. 

(ii) During a prior year the charity received correspondence from The Pensions Trust in relation to a review the Trustee has undertaken regarding the application of changes to Northern Ireland Charities Pension Scheme benefits. The outcome of the review could give rise to an additional liability of approximately £137k. 

During the prior year further correspondence was received in relation to a potential new item that has come out of the review. It relates to changes in legislation made by the Government to the measure of inflation used for increasing pensions already in payment and how this interacts with members’ pensions provided under the Rules. It is anticipated that the Court will provide a ruling at the earliest in Q4 2024. At this stage the amount and likelihood of any additional liability arising from this change is not known. 

The Pensions Trust have indicated that it is unlikely that any further liability will arise, therefore no provision for these items has been made in the financial statements. 

- 37 -