Company Registratlon No. Nl 41112 (Northern Ireland) Registered Charity No. NIC 100101 G-OLD COMMUNITY PARTNERSHIP ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
G-OLD COMMUNITY PARTNERSHIP GOMPANY INFORMATION Dlre¢tor8 Frances McKenna Martlna Watson Sharon Burnett Rioghnach Murphy Secretary Mary Tennyson Company number Nl 41112 Reglstered offlco Thlrd Floor Loy Buildings 18-24 Loy Street Cookstown Co Tyrone BT80 8PE Audltor David Lyttle + Co Ltd statlon House 46 Molesworth Street Cookstown Co Tyrone BT80 8PA Buslnoss addregj Thlrd Floor Loy Buildlngs 18-24 Loy Street Cookstown Co Tyrone BT80 8PE Bankers Ulster Bank 20 WS11iam Street Cookstown Co Tyrone BT80 8ND Sollcltors Toal & Heron Sollcltors 10 Loy Street Cook5town Co Tyrone BT80 8PE
G-OLD COMMUNITY PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023 Restrlcted Unrestrlcted funds fund5 2023 2023 Total 2023 Total 2022 Incomlng resources Incoming reSoUeS from generated funds Activities for generating funds Incomlng resources from charltable aGtlvltles DE (vla SPPGI fundlng 1,186,662 1,186,662 1,060,685 Tansferred to capltal grant (14,7961 {14,796) other Incomlng resourc•s Total Incomlng rasources 1,171,866 1,171,866 1,060,685 Resources expended Charltabl8 activlties Govemance costs (1,150,223) (8,0861 11,150,223) (8,086) (1,045,118) (7,564) Total rg$ource8 expended (1,158,309) 11,158,309) (1,052,682) Net Incomlngl(outgoingl resources 13,557 13,557 8,003 2022 underspend returned to DE (8.000) (8,000) Net movement In funds 5.557 5,557 8,003 Total funds broughl forward at 1 April 8,422 560 8,982 979 Total fvnds carrled forward at 31 March 13,979 560 14,539 8,982 The statement of financlal activities has been prepared on Ihe basis that all operations are continuing operations. There are no recognised galns and Ioss8S Other than those passing through th8 statement of financial actlvities.
G-OLD COMMUNITY PARTNERSHIP BALANCE SHEET ASAT 31 MARCH 2023 2023 2022 Notes Fi%ed assets Tangibl8 assets 39,972 33,569 current assets Debtors Cash at bank and in han 1,569 22,569 1,569 13,728 24,138 15,297 Crédltors: amounts lalllng due wlthln one year (9,599) (6,316) Net Current asset8 14,539 8,981 Total assets less currant Ilabllltleg 54,511 42,550 Capltal grant8 (39,9721 (33,5681 Net assets 14,539 8,982 Funds General reserves 14,539 8,982 Total charlty funds 14,539 8,982 Th8 dlrectors acknowledge thelr respon51bllltles for complylng wlth the requlrements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. These financlal statoments have been prepared In accordanc8 wlth the provislons applicable to companles subl8Ct to the small Gompanies r8gim8. The financial statements were approved by the board of directors and authorls8d for Issu8 on 14 September 2023 and are signed on Its behalf by.. Sharon 8umett Dlrector Company Reglstration No. Nl 41112
G-OLD COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Company information G-old Community Partnership is a private company limited by guarantee incorporated in Northern Ireland. The registered offic& is Third Floor, Loy Buildings, 18-24 Loy Street, Cookstown, Co Tyrona, 8T80 8PE. 1.1 Ac¢ountlng conventlon The financial statements have been prepared in accordance with 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 20151- {Charities SORP {FRS 1021), the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) and the Companles Acl 2006, except for the treatment of capltal grants. G-OLD Community Partnership meet the deflnition of a public beneflt entity under FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unless oth8rwise stated in the relevant accountsncy policy note(s). The financial statements are prepared on a going concern basls. The financial statements are prepared In sterllng, which Is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financlal statements have been prepared under the historical cost convention, [modified lo include the revaluation of freehold properties and to include investment properties and certaln financlal instruments at fair valuel. The princlpal accounting policies adopted are Set out below. 1.2 Fund a¢countlng Unrestricted funds are available for use at the dlscretion of the directors in furtherance of the general objectives of the charity. Restricted funds are subjected to restrlctlons on thelr expendlture Imposed by the provlder of the funds. Incomlng resource8 All incoming resources are included in the statement of financial activities when the charity is entltled lo the Income and the amount can be quantified wilh reasonable accuracy. The following specific policies are applled to particular categories of income: Voluntary income is received by way of grants, donations and gifts and is Included in full In the statement of financial aclivities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity. are recognised when the charity becomes unconditionally entitled to the grant, Donated services and facilities are included where this can be quantified. Tho value of services provided by volunteers has not been included in these financial statements. Investment income 15 included when receivable. Incoming resources from charitable trading activity are accounted for when eamed. Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideratlon by Its performance.
G-OLD COMMUNITY PARTNERSHIP NQTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policles (Contlnued) Resources expended Expenditure is recognised on a cash basis as stipulated by the main funder, Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.. Costs of generating funds comprise the costs assoclated with attracting voluntary income and the costs of trading for fundraising purposes. Charitsble expenditure comprises those costs incurred by the charlty in the delivery of Its activities and seNlces for Its beneficiarles. It includes both costs that can be allocated dlrectly to such activitles and those costs of an Indlrect nature necessary to support th8m. Governanc8 Costs Include thos8 costs associaled with meeting the constitutional and statutory requlrements of the charity and Include the audit f88s and costs linked to the strategic management of the charity. All costs are allocatad beeen the expendlture categories of the stat8ment of flnanclal actlvlties on a basis to reflect th8 use of the resource. 1.3 Tanglble flxed assets Tanglble fixed assets are Inltlally measured at cost and subsequently measured at cost or valuation, net of depreclatlon and any Impairment losses. Depreciation Is recognised so as lo writ8 off the cost or valuation of assets les5 their r8sidual values over their useful lives on the following bases: Offlce furniture and fittings Computer equipment Toy Ilbrary 250/D reducing balance 33,3°/D Straight line 500/0 Straight Ilne 1.4 Cash at bank and In hand Cash and cash equlvalents are basic financial assets and include cash In hand, deposlts held at call with banks, other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings In current liabilitl8S. 1.5 Flnanclal Instruments The company has elected to apply the provislons of Sectlon 11 'Basic Financial Inslruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments, Financial instruments are recognised in the company's balance sheet when the Gompany becomes paty 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. Bas1¢ financial assets Basic financial assets, which include debtors and cash and bank balances, are initlally measured al transaction prlce including transactlon costs and are subsequently Carried at amortised cost using the effective interest method unles5 the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the fulure rec8lPts discounted at a market rate of irsterest. Financial assets classified as receivable within one year are not amortised. 10
G-OLD COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng policies Icontlnuedl Classlfication of financlal Ilabllltles Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its Ilabililies. Basie flnancial liabllltles Basic financlal liabilities, Including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are inltially recognlsed at transactlon prlce unless the arrangement constitutes a flnanclng transactlon, where the debt instrument is measured at the present value of the fulure payment5 discounted at a mark8t rate of interest. Financial liabilities classified as payable within one year are not amort1s8d. Debt Instruments are subsequently carri8d at amortlS8d cost, using the eff8CtIv8 Inter8st rat8 m8thod. Trade creditors are obllgatlons to pay for goods or servlces that have been acqulred In the ordlnary course of business from suppllers. Amounts payable are classified as current Ilabillties If payment Is due wlthln one year or less. If not, they arg presented as non-current liabilities. Trade creditors are recogn15ed Inltlally at transaction pric8 and 8ubsequ8ntly measur8d at amortls8d cost using th8 8ff8CtiV8 int8r8St method. Change5 in the fair valu8 of derivatives that are designated and qualify as falr value hedges are recognised In profit or loss immedlately, together wlth any change5 in the fair value of the hedgetj a55et or liability thal are attributable to the hedged risk, 1.6 Employeo beneflts The costs of short-term employee benefits are recognised as a liabillty and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused hollday entitlement is recognised In the perlod In whlch the employee's services are recelved. Terminatlon benefits are recognised Immediately as an expense when the comp8ny is demonslrably committed to terminate the employment of an employee or to provide termlnation benefits. 1.7 Gov8rnment grants Capital grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful Ilfe of the a55ets. Grants towards revenue expendllure are released to the profit and loss account as the related expendlture Is Incurred. Judgements and key sources of estlmatlon uncertalnty In the application of the company'5 accounting policies, the directors are required lo 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 estlmates. 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 p8riod of the revision and future p@riods where the revision affects both Gurrent and future periods. 11
G-OLD COMMUNITY PARTNERSHIP NQTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Employees The average monthly number of persons carrylng out dutias for the company during th8 year was 47 (2022 - 51). All of these Indivlduals are employed by other organisations. Tanglble fixed asset$ Plant and Toy Ilbrary machlnary etc Total Cost At 1 Aprll 2022 Addltlons 324,073 14,796 30,074 354,147 14,798 At 31 March 2023 338,869 30,074 368,943 DepreGlatlon and Impalrment At 1 April 2022 Depreciatlon charged in the year 290,505 8,392 30,074 320,579 8,392 At 31 March 2023 298,897 30,074 328,971 Carrying amount At 31 March 2023 39,972 39,972 At 31 March 2022 33,569 33,569 Fixed assets ar8 funded by DE (via SPPG) Debtors 2023 2022 Amounts falling due wlthln one year: Other debtors 1,569 1,569 12-
G-OLD COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Crgdltors: amounts falllng due wlthln one year 2023 2022 Trade creditors 9,599 6,316 Capltal grants Balance at 1 April 2022 Grants received during the year Amortlsatlon In the year 33,568 14,796 (8,392) Ba18nce at 31 March 2023 39,972 Analy818 of net a88et8 between fund8 Restrlcted Unre6trl¢ted funds funds Total fund5 Fund balances at 31 March 2023 are represented by: Flxed assets Debtors Cash at bank and In hand Credltors: amounts falling due wlthin one year Capital grants 39,972 1,569 22.009 (9,5991 (39.972> 39,972 1,569 22,569 (9,599) (39,972) 560 13,979 560 14,539 Movements In funds Openlng balance Incomlng Resources Underspend resources expended returned Closlng balance Unrestrlcted funds General funds 560 560 Restrlcted funds 8,422 1,171,866 (1.158,309} (8,000) 13,979 8,982 1,171,866 (1,158,309) (8.000) 14,539 13
GLD COMMUNITY PARTNERSHIP MANAGEMENT INFORMATION FOR THE YEAR ENDED 31 MARCH 2023
G-OLD COMMUNITY PARTNERSHIP DETAILED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023 R8stricted Unrestrlcted Funds Funds 2023 2023 Total 2023 Total 2022 Incomlng resources Incomlng rnsourc8s from generated fund$ Incomlng r•sources from charltable actlvltles DE (vla SPPG} fundlng Allocated to capltal grant 1,186,662 {14,7961 1,186,662 114,796) 1,060.684 1,171,866 1,171,866 1,060,685 other Incomlng resources Total Incomlng resourcgs 1,171,866 1,171,886 1,060,685 Resources expended Charitsb18 activltles Govemance costs (1,150,223) {8,0861 (1,150,223) 11,045,118) (8,086) (7,564) Total resources expended (1,158,309) (1,158,309) (1,052,882) Net Incomlngl(outgolng) resources 13,557 13,557 8,003 Surplus for tho year 13.557 13,557 8,003 14-
G.OLD COMMUNITY PARTNERSHIP SCfrIEDULE OF RESOURCES EXPENDED FOR THE YEAR ENDED 31 MARCH 2023 Restricted Unrestrlcted Funds Funds 2023 2023 Total 2023 Total 2022 Charltable actlvltles Dlr?Ct Costs Barnardo's Project Workers NHSCT Wages NICMA childminding coordSnator Outreach Community Support NICMA tralning courses NIC MA resplte fees Chlldcare Workers Two year olds programme salarl6s Casual Creche WorkersNolunteer Expenses Parental Self Development Courses Early Years CoordSnator 29,262 99,135 11,553 25,410 150 23,085 91,828 280,585 18,268 32,171 67,529 29,262 99,135 11,553 25,410 150 23,085 91,828 280,585 18,268 32.171 67,529 25,012 94.336 11,326 28,148 341 11,949 92.565 263,776 17,439 24,424 48,819 Support cost5 Wages and salaries Trainlng Premlses Insurance Pow8r, Ilght and heat Property repairs and malntenance Lead Body fees NICMA Management fees Wornen's Ald Management fees Membershlp and subscrfption fees Prlntlng and statlonery Advertlsing Telecommunications Hire of premiseslrent re: storage Travelling expenses Bank charges Sundry expenses Barnardos IT SupportlNCP Database Team Building Partnership expenses Amortisation of capital grant Depreclation 163,938 7.021 14,589 12,814 59,631 44,802 1,340 22,900 2,008 10,652 3,629 14,241 81,338 9,924 433 296 20,511 1,027 154 (8,392) 8,392 183,938 7,021 14,589 12,814 59,631 44,802 1,340 22,900 2,008 10,652 3.629 14,241 81,338 9,924 433 296 20,511 1,027 154 (8.392) 8,392 175,666 4,346 12,949 10,002 30,789 44,802 1,340 22,900 1,338 12,795 1,933 13.179 66,768 10.511 456 404 15.706 1,000 99 (11,189) 11,189 1,150,223 1.150,223 1.045,118 15
G-OLD COMMUNITY PARTNERSHIP SCHEDULE OF RESOURCES EXPENDED {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Governance costs Audit f88S Staff costs 2,124 5,962 2,124 5,962 2,022 5,542 8,086 8,086 7,584 Total rosources expended 1,158,309 1,158,309 1,052,682 16-