COMPANY REGISTRATION NUMBER: N1618264 CHARITY REGISTRATION NUMBER: NIC100033 Dreamscheme Northern Ireland Company Limited by Guarantee Unaudited Financial Statements 30 March 2023 FEB CHARTERED ACCOUNTANTS Chartered accountants Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG
Dreamscheme Northern Ireland Company Limited by Guarantee Financial Statements Period from 1 April 2022 to 30 March 2023 Page Trustees, annual report (incorporating the directorfs report) Independent examinerfs report to the trustees 10 statement of financial activities (including income and expenditure account) Statement of financial position 11 12 Notes to the financial statements 13 The following pages do not form part of the financial statements Detailed statement of financial activities 22 Notes to the detailed statement of financial activities 23
Dreamscheme Northern Ireland Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Period from 1 April 2022 to 30 March 2023 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the period ended 30 March 2023. Reference and administrative details Registered charity name Dreamscheme Northem Ireland Charity registration number NIC100033 Company registration number N1618264 Principal office and registered 77a Saintfield Road office Belfast Northern Ireland The trustees Mr D Currie Mr W K Mcclean Mr D A Nicholl Mr D J Wilson Ms H E Grills Mr J A Mcvicker (Appointed 19 May 2023) Independent examiner Michael Flannigan FCA Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG
Dreamscheme Northern Ireland Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) (continued) Period from 1 April 2022 to 30 March 2023 Structure, governance and management Our governance Dreamscheme was set up as a ¢ompany limited by guarantee in May 2013 {NI 618264) and registered as a charity with the Charity Commission for Northern Ireland in March 2014 (NIC 100033). Dreamscheme is governed by a Board of six Trustees, two of whom are qualified a¢¢ountants, two are successful entrepreneurs with extensive business experience al senior management (MD) level and the other two Trustees have many years, experience at Director and senior management level in the voluntary sector. The Board is supported by a Board Administrator. The Chairman is a recognised expert in corporate governance. The Treasurer (a qualrfied accountant) is responsible for ensuring that sound financial systems and controls are in place. Supported by our accountanls, the Treasurer ensures Compliance with all charity and company law requirements. None of the Trustees are members of the company and no Trustee has any beneficial interest in the company. The Trustees mel seven times during 2022123. The Trustees have appointed a Chief Executive lo manage the day-to-day operations of Dreamscheme Norlhern Ireland within a Framework of Control established by the Trustees. All of our Trustees, staff and volunteers are subject to Disclosure & Barring Setvice (Access Nl) check5 and receive regular training on our Safeguarding Children and Young People Policy and child protection matters. Our Safeguarding Policy is refreshed annually, and safeguarding is an item on the agenda of every Board meeting. Reserves Policy Reserves are the part of a charity's unrestricted funds that are freely available to spend on any of Ihe charity's purposes. The definition excludes restricted income funds and endowment funds, although holding such funds influences our reserve policy. The Board has examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the restricted funds not committed or invested in tangible fixed assets held by the charity should be 3 months of the expenditure. The reserves are needed to meet the working capital requiremenls of the charity and the Board are Confident that at the level agreed they would be between 3 monlhs of the expenditure. The restricted fund is currentty in deficit, but the charity's policy will be to transfer funds from the u nreslricted reserves to return the reslricted funds to a surplus position.
Dreamscheme Northern Ireland Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Period from 1 April 2022 to 30 March 2023 Objectives and activities Our purpose and ethos Dreamscheme Northern Ireland was established in June 2004 and, since then, we have been working with at-risk young people between the ages of 11 and 18 in Belfast, Lisburn & Castlereagh and more recently Antrim. We are a youth development organisation seeking to bring about positive transfomiation in young people and communities. We do this through delivering targeted interventions, including detached youth work, drop-in sessions, diversionary programmes, mentoring. developmental activities and community work. The five core aims of Dreamscheme Northern Ireland are to.. 1. Provide young people in disadvantaged areas with attractive alternatives to risk taking behaviours, anti-social activity, civil unrest and crime 2. Connect young people with their local communities and encourage active, positive citizenship on the part of young people 3. Challenge racist and sectarian behaviours, combal prejudice and create a safe space for young people to explore ideas 4. Affinn young people, encourage ambition, build potential and encourage a sense of self-worth 5. Develop young people with skills and abilities to become future leaders in their communrties At the core of our existence is our desire to transform the lives of at-risk young people in disadvantaged areas of Northern Ireland. Motivated by Christian compassion, we believe in the worth of every young person regardless of their background and have a deep commitment to making a difference. We aim to provide hope, long-term practical support and positive role models. Overall progress In our Annual Report last year, we set out three main priortties for 2022123.. 1. Delivering our full Dreamscheme programme to the young people across our five current areas of operation 2. Expanding Dreamscheme Northem Ireland's operations into one major ¢entre outside Greater Belfast where there is a signtficant and unmet need 3. Expanding our mentoring programme in schools l am pleased to report that we have made signtficant progress on all three fronts. 1. Delivering our full Dreamscheme programme Dreamscheme continues to deliver excellent work in our core hubs and we have made a real difference in the lives of our young people Ihis is evidenced by the positive feedback received from the young people themselves, their parents, communrty leaders etc.
Dreamscheme Northern Ireland Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) fcontintsed) Period from 1 April 2022 to 30 March 2023 2. Expanding our operations outside Greater Belfast In January 2023, we launched a new Dreamscheme operation in the Ballycraigy Estate in Antrim an area of serious deprivation and unmet social need. This followed a very successful pilot scheme undertaken in the Summer of 2022. 3. Expanding our mentoring service in schoo15 We expanded our mentoring work in schools and are now working with 42 pupils in four schools. In the past year, we provided 270 mentoring sessions.
Dreamscheme Northern Ireland Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Period from 1 April 2022 to 30 March 2023 Achievements and performance Who did we reach? During 2022123, Dreamscheme Northem Ireland supported 340 young people across our five Centres and our new Antrim operation. What did we do? We delivered 587 youth work activities including 41 evenings of street work {East Belfast, Botanic, Castlereagh), 276 Centre-based group activities provided with our core programmes and 270 mentoring sessions. We currently have 33 volunteers who delivered 3800+ voluntary hours in the past year. What difference did we make? Dreamscheme Northern Ireland is committed to measuring the impact and p051tNe outcomes of our work with young people. According to our end-of-year survey of participants involved in our mentoring and Centre-based programmes: 93% of respondenls learned something new through Dreamscheme programmes- 84/0 of respondents had improved their emotional and mental wellbeing- 84 /0 believed Dreamscherne had empowered them to give back to their community- 82'k thought that Dreamscheme had helped them improve their relationships- 100°/o of participants were 'satisfied' or 'very satisfied, wrth the youth services provided by Dreamscheme (with 830/0 'very satisfied'l 1000/0 of mentees would recommend our mentoring service to a friend 7 young leaders completed Dreamscheme's youth leadership programme and are now actively leading in their community Feedback from parents "Dreamscheme has been the glue that has kept our family togetherf. "A wonderful place full of amazing people who have time for the younger generation and see the best in these kids. They encourage the kids to make the best of themselves, give them the drive to be better people and better to each otherf, "Both my children have participated in the programmes, and l cannot stress enough how invaluable Dreamscheme is to the local youth during their teenage years" "They give young people a safe space to be themselves and be honest. They are also a space to grow and learn in a fun wayl The programmes are just what they need.. "Dreamscheme is a lrfeline for young people in our community providing a safe space and great opportunities" "Dreamscheme is a great organisation that loves young people and aims to help them thrive in their life through building long lasting relationships as well as impacting communities Feedback from schools
Dreamscheme Northern Ireland Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continue¢¥ Period from 1 April 2022 to 30 March 2023 "Dreamscheme is our number one external support partner in Breda, and we're proud to have you as part of our school community. Lizzie and Jonny have built excellent relationships with their students and this has impacted on improved behaviour, increased self-confidence and esteem and improved relationships for our pupils" Gillian Scott, Vice Principal. Breda AGademy Feedback from young people "Dreamscheme is so good. IVS like my safe place" "I would recommend Dreamscheme to everyone, I have so much fun every time I go. and it has helped me to become more confident" "Dreamscheme enables young people to feel valued. That someone is actually interested in them and cares for them. It also gives them opportunities to learn. To learn new skills and also learn something about themselves. And all of this is done with an element of fun and a relaxed atmosphere" "Dreamscheme engages young people in ways that parents and teachers cannot. Relating to us and supporting us in a vulnerable slage of life and leading us towards positive life choices "Dreamscheme is a fun and safe place with leaders who have become like family" One of the highlights of the year In May 2022, one of our volunteers (Chloe Chapman), who has come up through Dreamscheme from the age of 12 to becoming a young leader and now a volunteer, accompanied our Chairman, David Nicholl, to a Garden Party in Buckin9ham Palace in recognition of the award of the Queen's Award for Voluntary Service to Dreamscheme Northern Ireland in 2021 (the Garden Party was deferred to 2022 due lo Covid-19}: QAVS Citation.. Making a difference to and bringing hope into the lives of young people in their local communities. "Her Majesly and the QAVS National Committee have seen the way in which the work of Dreamscheme is delivering for young people in this and other areas across the City, and they have judged this Outstanding outstanding in vision, delivery and in achievement." Lord Lieutenant for Belfast, Fionnuala Jay O'Boyle CBE Challenges faced during the past year The significant expansion of our work during the past year both in lemis of geographical expansion and the growth of our mentoring service in schools has put significant pressure on our staff team. We recruited Iwo new part lime youth workers during the year to address this issue. However, we have been struggling to cope wtth the corresponding growth in finance and fundraising activity where we have traditionally been reliant on Truslees to undertake much of this actNlty. This is no longer a realistic option going forward if we are to deliver our ambitious plans for growth. Unfortunately, Dreamscheme was unsuccessful in recruiting a Fundraising Manager and Finance Officer over the past year despite several attempts to do so. Equality Dreamscheme accepts young people from all communities and backgrounds. We work with young
Dreamscheme Northern Ireland Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Period from 1 April 2022 to 30 March 2023 people.. With little or no involvement in any other youth groups or organisations- Vulnerable to exploitation by paramilitary organisations Hanging around hot spots late at night wrth potential for anti-social behaviour- Engaged in risk taking activitie5 e.g. drug and alcohol misuse From marginalised groups such as migrants and Roma young people Our mentoring service in schools support5 vulnerable pupils, many with mental health issues, serious family problems, behavioural issues (as evidenced by suspensions from school) and many of whom have given up on education and any hope for their future. Financial review Our financial perfomiance in 2022123 Dreamscheme generated an overall defictt of £14,098 for 2022123 with income of £198,365 and expenditure of £212.463. This deficit compares to a budgeted surplus of £314. Our total unrestricted reserves were £43,633 at 31 March 2023 compared to £62,731 at 31 March 2022. The results for the financial year are set out in more detail in the Statement of Financial Activities at page 11. The principal reason for the deficit in 2022123 was a shortfall of £25,000 in statutory income received against the budgeted figure. This was largely caused by the decision of a large local authority to cut back significantly on the funding that it provides to the voluntary sector. The Trustees have revised the statutory income target for 2023124 downwards to reflect this ongoing situation and have refocused our fundraising efforts on Trust Funds and corporate & individual donors lo compensate. This revised strategy has already bore fruit in the first quarter of 2023124. The Trustees are satisfied that our financial reporting system5 are exlremely robust and generate high quality financial information for Trustees and staff. The Trustees consider a detailed financial report and a fundraising report at every meeting.
Dreamscheme Northern Ireland Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (conunuedj Period from 1 April 2022 to 30 March 2023 Plans for future periods Our plans and priorilies over the next three years include the following.. Expanding Dreamscheme's operations into three new aaS of serious deprivation across Northern Ireland where there is an unmet need Delivering our full Dreamscheme programme to 160 young people across our frve existing areas of operation Expanding our mentoring programme in schools - there is a huge unmet need for this service and we have been approached by several schools who want to work in partnership with us. Public Benefit Statement Purpose 1.. the advancement of education spe¢tfically to provide education, training and support to any groups establishing projects calculated to develop the physical, spiritual and mental capacities of young persons under the age of 25 that they may grow to full maturity as individuals and members of society and their conditions of life may improve. What benefit flows from this purpose? Dreamscheme Northern Ireland- Provides young people in disadvantaged areas with attractive alternatives to risk taking behaviours, anti-social activity, civil unrest and crime Connects young people with their local communtties and encourage active. positive citizenship on the part of young people (e.g. through providing community volunteering opportunities) Provides the statutory authorities (e.g. police, health and emergency services) with opportunities to connect with at risk young people in a posittve manner Challenges racist and sectarian behaviour. combats prejudice and creales a safe space for young people to explore ideas Affirms young people, encourages ambition, builds potential and encourages a sense of self-worth Can we demonstrate benefit? "The work that Dreamscheme does is having a real positive impact in engaging young people mosl at risk and helping to reduce anti-social behaviour in the area. I wish that there could be more projects like Dreamscheme Nl operating across olher neighbourhood5 of Castlereagh.. Derek Martin, Commander Castlereagh, Police Service of Northern Ireland IPSNI) We undertake surveys of the young people who attend Dreamscheme and regularly obtain feedback from the PSNI and other funderslpartners on the benefrts delivered as a result of our activities (mostly through independent evalualions). A recent evaluation report (commissioned by Casllereagh Borough Council Leisure Services) found Ihat= young people on our restorative justice placements had experienced a positive shift in attitudes toward offending,. community work by young people had resulted in better community relations and a greater sense of 'community safety the scheme had improved the general outlook and self-esteem of young participants-, workshops had helped to change attitudes to harmful attitudes and activitie5- the outings 'Reward Points. programme had been highly valued by young people many of whom would not otherwise have been able to participate in the activities on offer. Is there any harm or possibility of harm and, if so. is it outweighed by the benefit? The only harm that we have identified through our risk assessment is the possibility of harm to our staff and volunteers al the hands of one or more young people but this is a moderate to low risk and is outweighed by the substantial and demonstrable benefits delivered through our projects and activities. Who is the benefit fo The young people that Dreamscheme serves are aged 13 - 18 years and include.. Young people with little or no involvement in any other youth groups or organisations Young people who are vulnerable to exploitation by paramilitary organisations Those who have been involved in previous polrtical unrest and l or violence Those hanging around hot spots late at night with potential for anti-social behaviour Young people engaged in risk taking activities e.g. drug and alcohol misuse.
Dreamscheme Northern Ireland Company Limited by Guarantee Trustees, Annual Reptsrt (Incorporating the Directorfs Report) (eon¢lnuettJ Period from 1 April 2022 10 30 March 2023 8mall Gornpany prnvlslons Thls rcpDrt hr)t> boon proparctl In aCcordar0 wilh tho provisi)n5 appllcabk lo companies enltlled to Ihe small companies cxcmpiion. The Iru5tees' annua report was approved on 18 Al$t 2023 grxl slgned on behalf of the knard of tTUStees by.. Mr D A Nicholl Trustee
Dreamscheme Northern Ireland Company Limited by Guarantee Independent Examinerfs Report to the Trustees of Dreamscheme Northern Ireland Period from 1 April 2022 to 30 March 2023 I report to the trustees on my examination of the financial statements of Dreamscheme Northem Ireland ('the charity,) for the period ended 30 March 2023. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the '2008 Act,) and the Companies Act 2006 ('the 2006 A¢t'l. You are satisfied that the accounts of the company are not required by charity or company Saw to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company are nol required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Direction5 given by the Charity Commission for Northem Ireland under section 65(9)(b) of the 2008 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.. accounting record5 were not kept in respect of the charity as reqL5ired by section 386 of the 2006 Act., or the financial statements do not accord with those records-, or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. H K&L3L Michael Flannigan FCA Independent Examiner Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG 10
Dreamscheme Northern Ireland Company Limited by Guarantee statement of Financial Activities (including income and expenditure account) Period from 1 April 2022 to 30 March 2023 Year to 31 Mar 22 Period from 1 Apr 22 to 30 Mar 23 Unrestricted Restricted funds funds Total funds Total funds Note Income and endowments Charitable activities Investment income 91,796 156 106,413 198,209 156 209,240 Total income 91,952 106.413 198,365 209,253 Expenditure Expenditure on charitable activities Expenditure on governance costs Total expenditure 109,726 1,324 101,413 211,139 1,324 189,613 1,478 111,050 101,413 212,463 191,091 Net lexpenditure)lincome and net movement in funds (19,098) 5,000 (14,098) 18,162 Reconciliation of funds Total funds broughl foward Total funds Carried forward 62,731 62,731 44,569 43,633 5,000 48,633 62,731 The statement of financial activities includes all gains and losses re¢ognised in the year. All income and expenditure derive from continuing activities. The notes on pages 13 to 20 fomi part of these financial statements. 11
Dreamscheme Northern Ireland Company Llmlled by Guarantee Statement of Financial Position 30 March 2023 30 Mar 23 31Mw22 Fixed ass•ts Tangib18 fix8d a$t8 14 1,217 629 Current as5È1s Debtors Cash al bank arxl In hand 16 14,773 43,2 58.069 8,045 75.127 83,172 Credltors-, arnounts falllng ttu• wlthln one year Net current assets 16 10,653 47,416 48,633 48,633 21.070 62,102 62,731 62.731 Total asséts loss curr•nl Ila)Illll•s Net aSSEIs Funds of the rharity Restricl@d lunds UnrestfStst&l thnd$ 5.000 43,633 62,731 Total charlty funds 18 48.633 62,731 For the Feriod ending 30 March 2023 Ihe charity was enlilled lo exemption from audit under section 477 of the Companies Act 20C relatvig to smau companies. DIrtOrs, responsibilitle& The mernbers have not requlred the CpanY to obtaln an audit of fts finandal statements fof the porlod In quesllon accordance wlth sectkjn 476-, The directors acknowle(13e thr responsibilitS for conplsring the requif8ments of the Act wfjth respect to accoLmting redS and the preparation of finar31 statements, These finanual staten%nts have been prered in aGGry(18nG8 yth th8 pfoYK%ions applicable lo Gompani8s subject to the smam companies, regime. Thoso finala1 sialoffténis wcrL' approved by Ihe board ol trustees and 3uthorlsed issue on 18 August 2023, and are sied on behalf of Ihe board by.. Ir D A Nlcholl Trustèe The notès Ofi PA9èA 13 to 20 IDmi part tsf thesè fflnanclal statements. 12
Dreamscheme Northern Ireland Company Limited by Guarantee Notes to the Financial Statements Period from 1 April 2022 to 30 March 2023 General infomiation The charity is a public benefit entity and a private Gompany limited by guarantee, registered in Northern Ireland and a registered charty in Northern Ireland. The address of the registered office is 77a Saintfield Road, Belfast, Northem Ireland. Staternent of compliance These financial statements have been prepared in complian with FRS 102, 'The Financial Reporting Standard appli¢able in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP {FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabillties and investment properties measured at fair value Ihrough income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going Concern There are no material uncertainties about the chartty's abilty to continue. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub<lasses.' restricted income funds or endowment funds. 13
Dreamscheme Northern Ireland Company Limited by Guarantee Notes to the Financial Statements (continued) Period from 1 April 2022 to 30 March 2023 Accounting policies (contlnued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gifl, receipt is probable, and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expendilure 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.. expendilure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable actrvities includes all costs inCued by a charty in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impaiment losses. Any tangible assets carried at revalued amount5 are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. 14
Dreamscheme Northern Ireland Company Limited by Guarantee Notes to the Financial Statements (continued) Period from 1 April 2022 to 30 March 2023 Accounting policies (continued) Tangible assets {continued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised 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 write off the cost or valuation of an asset, less its residual value, aver the useful economic life of that asset as follows.. Fixtures and fittings 50 % straight line Impairment of fixed assets A review for indicators of impainnent is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where 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 impaiment testing, when rt is not possible to estimate the recoverable amounl of an individual asset, an estimate is made of the recoverable amounl 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. 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 Ihe synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Government grants Government grants are reGognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance Ihat the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose spectfied future perfomiance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the perfomiance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a 15
Dreamscheme Northern Ireland Company Limited by Guarantee Notes to the Financial Statements (continu¢dJ Period from 1 April 2022 to 30 March 2023 A¢¢ounting policies (continuerfj Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expecled to be paid or received and not discounted. Debt instruments are subsequently measured at amortised c05t. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recogni5ed in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments. including derivattves, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value. with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial a55ets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment Ioss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediatety, 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. Limited by guarantee This is a company limited by guarantee and has no share capital. In the event of Ihe charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. 16
Dreamscheme Northern Ireland Company Limited by Guarantee Notes to the Financial Statements (¢onllnued) Period from 1 April 2022 to 30 March 2023 Charitable activities Unrestricted Funds Restricted Total Funds Funds 2023 Charitable Activities Unrestricted Income Restricted Income 91,796 91,796 106,413 106,413 Grants Government grant income 91,796 106,413 198,209 Unrestricted Funds Restricted Total Funds Funds 2022 Charitable Activities Unrestricted Income Restricted Income 119.798 119,798 87,492 87,492 Grants Government grant income 1,950 1,950 121,748 87,492 209,240 Investment income Unreslricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest receivable 156 156 13 13 Expenditure on charitable activities Unrestricted Funds Restricted Total Funds Funds 2023 Expenditure on charitable activities 109,726 101,413 211,139 Unrestricted Funds Restricted Total Funds Funds 2022 Expendilure on charitable activities 102,121 87,492 189,613 17
Dreamscheme Northern Ireland Company Limited by Guarantee Notes to the Financial Statements (confinuedj Period from 1 April 2022 to 30 March 2023 Expenditure on charitable activities by fund type Unrestricted Total Funds Unreslri¢ted Total Funds Funds 2023 Funds 2022 Support costs 1,324 1,324 1,478 1,478 Expenditure on charitable activities by activity type Support Total funds osts 2023 Total fund 2022 Governance costs 1,324 1,324 1,478 10. Net (expenditurellincome Nel (expenditure)lincome is stated after Chargin(credIting)'. 30 Mar 23 31 Mar 22 Depreciation of tangible fixed assets 824 1,078 11. Independent examination fees Period from 1Apr22to 30 Mar 23 Year to 31 Mar 22 Fees payable to the independent examiner for- Independent examination of the financial statements 500 400 12. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. Period from 1Apr22to Year to 30 Mar 23 31 Mar 22 Wages and salaries 157,111 136,016 The average head count of employees during the period was 9 (2022.. 9). The average number of full-time equivalent employees during the period is analysed as follows.. 30 Mar 23 31 Mar22 Number of staff No employee received employee benefits of more than £60,000 during the year (2022= Nil). 18
Dreamscheme Northern Ireland Company Limited by Guarantee Notes to the Financial Statements (continued) Period from 1 April 2022 to 30 March 2023 13. Trustee remuneration and expenses No remuneration or other benefits from employment wtth the charity or a related entity were received by the trustees. 14. Tangible fixed assets Fixtures and fittings Cost Al 1 April 2022 Additions 2,156 1,412 At 30 March 2023 3,568 Depreciation At 1 April 2022 Charge for the period At 30 March 2023 1,527 824 2,351 Carrying amount At 30 March 2023 1,217 At 31 March 2022 629 15. Debtors 30 Mar 23 31 Mar 22 other debtors 14,773 8,045 16. Creditors: amounts falling due within one year 30 Mar 23 31 Mar 22 Trade creditors Accruals and deferred income Other creditors 128 500 10,025 417 10,653 10,000 10,653 21,070 17. Government grants The amounts recognised in the financial statements for government grants are as follows.. 30 Mar 23 31 Mar 22 Recognised in income from donations and legacies- Government grants income 1,950 19
Dreamscheme Northern Ireland Company Limited by Guarantee Notes to the Financial Ststements (continued) Period from 1 April 2022 to 30 March 2023 18. Analysis of charitable funds Unrestricted funds At 1 Apr 2022 At Income Expenditure 30 Mar 2023 General funds 62,731 91,952 (111,050) 43,633 At 1 Apr 2021 At Income Expenditure 31 Mar 2022 General funds 44,569 121.761 (103,599) 62,731 Restricted funds At 1 Apr 2022 At Income Expenditure 30 Mar 2023 Restricted Funds 106,413 (101,413) 5,000 Al 1 Apr 2021 At Income Expenditure 31 Mar 2022 Restricted Funds 87,492 (87,492) 19. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets 1,217 42.416 1,217 47,416 5,000 Net assets 43,633 5,000 48,633 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current assets 629 62,102 629 62,102 Net assets 62,731 62,731 20
Dreamscheme Northern Ireland Company Limited by Guarantee Management Information Period from 1 April 2022 to 30 March 2023 The following pages do not fonn part of the financial statements. 21
Dreamscheme Northern Ireland Company Limited by Guarantee Detailed Statement of Financial Activities Period from 1 April 2022 to 30 March 2023 Period from 1Apr22to 30 Mar 23 Year to 31 Mar 22 Charitable Activities Unrestricted Income Restricted Income Government grant income 91,796 106,413 119,798 87,492 1,950 198,209 209,240 Investment income Bank interest receivable 156 13 Total income 198,365 209,253 Expenditure Expenditure on charitable activities Purchases Wages and salaries Rent Light & heat Insurance Other motorltravel costs Legal and professional fees Telephone Other office costs Sundry Printing and marketing 25,268 157,111 13,542 1,059 884 356 2.700 1,441 4,583 2,286 1,909 24,564 136,016 10,250 3,147 780 2,351 1,266 7,022 1,531 2,686 211,139 189,613 Expenditure on governance costs Legal and professional fees Depreciation 500 824 400 1,078 1,324 1,478 Total expenditure 212,463 191,091 Net {expenditure)lincome (14,098) 18,162 22
Dreamscheme Northern Ireland Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Period from 1 April 2022 to 30 March 2023 Period from 1Apr22to 30 Mar 23 Year to 31 Mar 22 Expenditure on charitable activities Purchases Wages and salaries Renl Light & heat Insurance Other motorltravel costs Legal and professional fees Telephone other office costs Sundry Printing and marketing 25,268 157,111 13,542 1,059 884 356 2,700 1,441 4,583 2,286 1,909 24,564 136,016 10,250 3,147 780 2,351 1,266 7,022 1,531 2,686 211,139 189,613 Expenditure on charitable activities 211.139 189,613 Governance costs Accountancy fees Depreciation 500 824 400 1,078 1,478 1,324 Expenditure on governance costs 1,324 1,478 23