-Charlty Reglstratlon No. NIC100114 Company Reglstratlon No. N1072184 (Northern Ireland) SOLAS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
SOLAS LEGAL AND ADMINISTRATIVE INFORMATION Trustees Tom Doran (resigned 241h Jan. 2024) Emily Gallagher Fionnguala Mccotter (Chair) Caitriona Nic Sh8ain Ciaran Marley (resigned 19th Apr. 20231 Elaine Holmes (appoinled 191h Apr. 20231 Ross Reid Laura Burrows (resigned 28" Nov. 2023) Mairead Mccartan Joanne Mercer (appointed 19" Apr. 2023) Jean McGann (appointed 19, Apr. 2Q231 Secretary Fionnguala Mccotter Joanne Mercer (appointed 191h April 2023) Charity number NIC100114 Company number N1072164 Reglstered office Parkmore Building 284a Ormeau Road Belfast BT7 2GB Audltor Kearney & Co Donegall House nd 2 Floor 98-102 Doneg811 Street BELFAST BT12GW
SOLAS CONTENTS Page Trustees, report Independent auditor's report Statement of financial activities 8alance sheet Slalemenl of cash flows Notes lo the financial statements 10 12-21
SOLAS TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2023 The Trustees present thelr report and flnanclal statements for the year ended 30 June 2023. The finanGial slatemen16 have been prepared in accordance with the accounting policies sel out in note 1 to Ihe financial slalemenls and comply with the charity's governing docLrment, the Companies Act 2008 and "Accounling and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 1021" (as amended for accounting periods commencing from 1 January 2016}. Oblectives and activities The charily's objectives are to., Advance health and wellbelng, educatlon and development, wilh particular reference to those children with special needs currently falling Outside the slalulory provision; Provide 'palhways' to services which vulnerable families may not normally be able lo access- Support families who engage with ScSlas, and build a strong physical and practice infraslruclure which will piovide consistont, quality care and support; Ensure Ihal the voices of Ghildrenlyoung people with mild to severe learning disabilities are heard and that IheSr volcès shape and influence the developmonl of govornmont policies and mainstream setvices,. Increase the visibility of childr8nlyoung people, their parent$l¢ar8rs and sibling5 and ensuring their full participation in community life., Lobby and advocate for increased bespokè services for families through represen181ion on all key coinmillees, $18ering groups and bodies wilh Ihe potential lo support our wolk, Train highly skilled slaff to promole our commitment lo excellence; worklng with academlc inslilutions, voluntary agencies and slalulory bodies to ènsure that our practice and experience conlribules to research and evaluations which work towards improving practice. Develop a team of dedicated volunteers who use Iheir skillslexperience in schools, ensuring chlldren are supported to have an optimum education experienc8. Current 8ervlces Include: (1) Family Support Programs (including Afierschools l Respile Support, afternoons, evenings and weekends, Home Support Programs. providing support, informalion and practical support for parents of children in thè procesg of a diagnosis or, with a recent diagnosis- Parent Programs, Parent Advice CliniGS and,. Sibling Programs, Youth clubs, Siblings Glubs, Surnmer & holiday schemes 12) Educalional Programs largeling children with mild additional needs and not achieving their full loarning potential (Back on Track program and Kids Support Den). solas is also one of the delivery partners delivering the DE funded Seamless Transition through Education Programme (STEP I WRAP) for which Foard South Partnership is Ihe lead partner. solas was appointed a5 the lead partner in the SpeGial EduGation Needs, Belfast Wide Early Year5 Initiative, including the following partners, Glenbrook Surestart, kids Together Belfast, East Belfast Surestart and solas, (3) Therapeutic Services for childrenlyoung people and their parenlslcarers including play therapy, art therapy, childlparent and carer counselling and a multi-usage space for childlparent support activities. These interventions primarily focus on supporting children and young people with disabilities including aLFtism, and their parenls I carers, who are experiencing mental health issues. {4) Young Adults Programme SONA- for young adults Iransilioning I leaving Special School- a day service, that provides opportunities for develop life skills, offer wellbeing and social opportunities and a safe supported space for young people with disabilities lo be with their peers.
SOLAS TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2023 The policies adopted in furtherance of these objects are. Enhance the physical infrastruclure of the organisation ensuring Ihal facilities are fit for purpose and designed to best meet Ihe complex needs of many Of the service users supported. In the past year we have developed a new programme SONA, and a new space at YMCA for young adults Iransilioning from Special School. This prograrnme supports young people with life skills, Gookery, managing money, heallhy e¢iling and wellbeing. exercise, social skills, trips, etc 2. Consolidate and strengthen Ihe organisation's servi¢es, expand the rAP2cily of Solas lo deliver vilal programmes to children, young people and their families, and lo ensure the long-term suslainabilily of the organisation through creating a business model which is robusl and reduces their currenl dependency upon grant funding. 3. Work collaboratively with a diverse range of organisalions, all of which contribute to the dellvery of effective services, primarily to benefit children and young people with addi1Sonal needs across Belfast. In particular. solas works with 3 key partnerships, South Belfast Suiestart (through the Early Years and Urban Village A Place for Me Programmes),. an Early Intervention partnership led by Forward South Partnership - STEP I WRAP programme. and the Belfast Wide Early YeaTs partnership18d by Solas. 4. Promote excellence in their pracllce - solas works closely with all B81fasl based Universities and Teacher Training Colleges. solas currently offers placement opportunities to students from QUB, Slranmillis, St Marys & UUJ sludylng a Iiumber of degiee programm8s (includii Ig health & social care, psychology, educdlion, masters in autism, and mast8rs in atypical chill,, development). Many of the students who come lo solas on placemenl are retained 8$ Staff memberslvolunleers. 5. Tackle disadvantages experienc8d by children and young people wlth moderate to severe learning needs who exp8ri8nGe an acute lack of cholce or oplions throughout their lives when trying lo access appropriate services., through delivery of early years and daycare $8Nices, afterschool provision, youth servlces and educational support. 6. Grow organically and continue to develop a divorse range of progiammes, projects and activities which meet the needs of the whole family., the group currently deliver their setvices across 8 sellings, the majority of whlch are located in areas of grealesl disadvantage. 7. Generate income through Social F.nterprlse acllvltles delivered through access lo Self- Directed Support Packages, Self- Directed support is the provision of tailored individual support packages for children and young people with severe learning difficulties and disabilities. Children and young people in this c8tegory are eligible lo access direct payrnenls from the Belfast Health and Social Cara Trusl and can use it to buy in the support they feel is most needed to improve their quality of life and provides benefit lo Ihem personally. solas provides gelf-directed support services and also offers administrative support to families lo a¢sS the scheme. 8. After School support project- this service focLJses upon children aged 5 to 12 years old and as per core mission, targels those children with the mosl complex and challenging needs. It provides a valuable childcare service for working parents 2nd is designed specifically for the needs of these families and Children. The service is tailored and based upon the needs of each individual child wilh suitable staffing support in place as per organisalional policies and experience. 9. Engage with Parentslcarers to enhance services: solas engages with parenls and carers on a daily basis in relation to the needs of both their children and themselves The feedback and informalion they provide is vital to Ihe ongoing success of the organisalion. Parenlslcarers inform the development and enhancement of core programmes and activities. Parenlslcarers readily support evaluations, research and frequently represent the needs of their child{ren)lorganisation to funders, politicians and slatutory aulhorilies.
SOLAS TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2023 10. Engage with Staff - Engagement with our staff team is critical. The feedback and input Ihey make lo ensure delivery of high-quality service and provision is vital lo the day to day rLJnning of the organisalion. 11. Engage the Local CommuniiyIBusinesses to provide support lo the organisalion. this helps us Greate an exlended welcoming and safe environment for the childrenlyoung people and palenlslcarers who use oui facilities. 12. Communlty Organlsalions - solas works extensively and engages wilh a diverse rang8 of community organisations, W8 ar& part of lh8 Ulidia Campus Plans, which includes Solas, Rosarlo Foolball Club as well as Scoil an Droichid (primary school moving to the newly refurbished Ulidi2 School sile adjoining solas and the Ulidia Playing Fields). The campus partners have been working together for several years lo deliver services lo the communily and lo maximise the use of the community resources that we colloctively hold. Recently we all worf(ed together to support the Food Bank iniliative that emerged lo deal with Ihe fallout of the pandemic. 13. We are also part of Forward South Partnership, South Belfast Urban Villages Reference Group and South Belfast Sureslart and use community facilities lo deliver programmeslaGtiviti8s in th8 Markets, Sandy Row, Ihe Village, Taughmonagh, Lower Ormeau, and North Belfast 14. Local Schools- solas and local schools engage on a daily b2sis in the best interests of Ihe childrenfyoung people attending the organisation. Their services are interdependent and necessary to create the best possible development and educational opportunities for the children who attend theii facilities. Schools undèistand the challenges of providing safe and consistent care for children who need stability in order to thrive. Schools support 8nd understand the need for this proj8cI. 15. Belfast Trust and DE solas has engaged from the outset with key statutory agencies in d8v81oping the seTvices which are so important to so many families. Positive engagement is essenllal to the ongoing and continued work of Solas. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the CharSty should undertake. Achlevements anfl perfomiance solas, income from respite serviGes and childcare fees increased over the year. The demand for respite and support for children with complex disabilities increased (particularly during the pandemic. when many of the slalLflory services were not operaling), and was apparent from additional referrals from the BHSCT, referrals from Family Support Hubs Self Referrals from families with children in need. Additional financial support was also secured from government COVID grants. The increased demand for services informed our commitment lo grow and meet those needs. Additional fee income combined with the additional grant support provided from existing and new granl providers has ensured ovorall income growth on the previous year. Also, cash balances have improved, net assels have been maintained and the Charity is able lo maintain an operating surplus. solas continues lo rely upon grants and respite I childcare service fees. In 2023 the directors delivered on the SONA, the day care provision lo include the support of young adults transitioning from Special School. This is generating additional income for solas and suppori our efforts lo become self-sustaining. The Trustees have set aside funds for a new building on sile at Parkmore and it is the express aim of solas lo deliver a dedicated fit for purpose facility on sile costed at approx. £2.5m. Significant progress has been made with delivering on this aim over the year,
SOLAS TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2023 Flnancial Review The results for the year are set out on the Statement of Financial Aclivilies. The Trustees consider the financial results salisfactory. solas has a risk management policy in place under which risks are identified and reviewed by managernenl on a regular basis. ProGedures are in place to manage the risks.. 11 is the policy of the charity that unrestricted funds which have not been designaled for a specific use should be maintained at a level equivalent lo between thTee- and six-monlh's expenditure. The Truslees consider that reserves at Ihis level will ensure that, in the evenl of a significant drop in funding, they wi51 be able to continue the charity's current activities while consideration is given to ways in which addilional funds may be raised. This level of reserves has been maintained throughout the year. The Trustees hav8 assessed the major rlsks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure lo the major risks. Structure, governance and managèment The charily is a company limited by guarantee and is registered as a charity with The Charity Commission for Northern Ireland. The Company was established under a Memorandum of Association and is governed by its Articles ofAssociation. The Truste8s, who are also the dlrectors for the purpose of company law, and who S8ed during the year and up lo Ihe dale of slgnalure of the financial $18temenls were.. Fionn9uala McColter- Director Chair 191h April 2023 Tom Doran Chair, resigned 191h April 2023 Emily Gallagher Cailriona Nic Shealn Ciaran Marley resigned 19th April 2023 Ross Reld Laura Burrows Mairead Mccartan Jean McGann.' appointed 19th April 2023 Joanne Mercer Appointed 19th April 2023 resigned 191h April 2023 None of the Trustees have any beneficial interesl in the company All of the Trustees are members of the company and guarantee to conlribute £1 in Ihe event of 2 wlnding up. The directors of the company are 81so charily Trustees for the purposes of Charity Law. Under the requiremenls of the Memorandum and Articles of Asso¢ialion directors are eleGled al an Annual General Meeting by the members (in person, or through an aulhorised represenlalive or by proxy). All new direclors receive in-house induclion and training appropriate to their roles. solas has a Management Committee, made up of Trustees. The Commitlee meets regularly and are responsible for the stiategic direction and policy of the charity. The day-lo-day responsibility for Ihe provision of the services rests with the manager and the senior management team. Audilor The Board of solas approved appointment of Kearney & Co as their auditor for the year.
SOLAS TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2023 The Trustees, report was approved by the Board of Trustees. Fionnguala McCo118r Trustee Oated.,
SOLAS TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2023 Statement of Trustees, Responslbllltles The Trustees, who are also the directors of solas for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and Uniled Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice). Company Law requires the Trustees lo prepare financial statements for each financial yearwhich give a true and fair view of the slate 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 accounling policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates Ihal are reasonable and prudent., and prepare the financial statements on the going concern basis unless It Is Inappropriate to presume that the charity will continue in operallon. The Trustees are rèsponsible for keeping adequale 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 irr8gularities. Audltor Each of th8 Persons who is g Trustee at the date of approval of thls report confirms Ihal., so far as they a aware, there is no relevant audit information ofwhich the charity's audilor is unaware., and they have taken 811 relevant steps that they ought to have taken as trustee to make thernselves aware of any relevant audit Information and to establish Ihat the charity's auditor is aware of that information. Small company provlslons This report has been prepared In accordance with the provisions applicable lo companies enlitled to the small companies, exemption.
SOLAS INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SOLAS Oplnlon We have audited the financial statements of solas (the 'charity') for the year ended 30 June 2023 which comprise the statement of financial activities. the balance sheet. and the 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 FRS 102 The Financial Rgporting Standard 8pplicable in lh8 UK and Republic of Ireland (United Kingdom Generally Accepled Accounting Practice). In our opinion, the financial statements-. give a true and fair viewofthe slate of the charitable company's affairs as al 30 June 2023 and of its incoming resources and application of resources, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pradice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Inlernatlonal Standards on Auditing (UK) (ISAS (UK)> and applicable law. Our responsibilities under those standards are further described in the Auditoffs responsibililies for Ihe audit of the financial stal8m8nts section of our report. We are independent of the charity in accordance with the ethical requirements Ihat are relevant to our audit of Ihe financial statements In the UK. Sncluding the FRC'S Ethical Slandard. and wè 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. Concluslons relatlng to golng concern. In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparalion of the financial statements is appropriate. Based on the work we have performed, we have nol identified any material uncertainties relaling lo events or conditions that, individually or colleGlively, 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 aulhorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described In the relevant sections of this report. Other Informatlon The olher information comprises the information included in the 8nnual report other than the financial statements and our auditorfs 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 inconsistenl with the financial statements, or our knowledge obtained in the Course of the audit, or olherwise 8ppears to be materially misstaled. If we identify such material ineonsislencies or apparent material misstatements, we are required lo determine whether this gives rise to a malerial misstatement in the financial statements themselves If, based on the work we have performed, we conclude that there is a material misstatement ofthis other information, we are required lo report Ihal fact, We have nothing to report in this regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Tru5tees' repDrt, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consislenl with the financial slalerllents, and the directors, report included within the Trustees. report has been prepared in accordance with applicable legal requirements.
SOLAS INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SOLAS 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 Ihe course of the audit, we have not identified material misstalemenls in the directors, report included within the Trustees, report. We have nothing lo report in respect of the following matters in relation to which the Companies Act 2006 requires us lo 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 slalemenls are not in agreement with the accoLJnling records and returns., or certain disclosures of Trustees, remuneration specified by law are not made., or we have not received all the informalion and explanations we requife for our audit., or the Directors were not enlilled lo piepare the financial slalemenls in accordance with the small companies, regime and lake advantage of the small companies, exemptions in preparing the Trustees, report and from the requirement lo prepare a strategic report. Responsibilities of the Trustees As explained more fully in Ihe slalernent of Truslees, responsibilities. the Trustees 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 Gonlrol as the Trustees determine is necessary lo enable the preparation of financial slalemenls that are free from material misstatement, whether due lo fraud or error. In preparing the financial slalemenls, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, malleis related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate Ihe ¢haritable company or lo cease operations, or have no realistic allernalive bul to do so. Auditor's re8ponsibllities for the audlt of the financial statements Our objectives are lo obtain reasonable assurance about whether thè financial slalements as a whole are flee from material misslalemenl, whether due to fraud or error, and lo issuè an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee Ihal an audit conducted in accordance with ISAS (UK) will always delecl a material misslalemenl when il exists. Misslalemenls 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 stalemenls. Irregularities, including fraud, are inslances of non-compliance with laws and règulations. We design procedures in line with our responsibilities, outlined above. to detect material misslalemenls in respect of irregularities, including fraud. The exlenl to which our procedures are capable of delecling irregularities, including fraud. is detailed below. A further description of our responsibilities is available on the Financial Reporting CoLsncil's website al.. htlps'.11 www.frc.org.uklaudilorsresponsibi1ities. This description forms part of our audilols report. QKOL Lc)(JiS ck Sarah Louise Lynch (Senior Ststutory Auditor) For and on behalf of Kearney & Co Chartered Accountants Statutory Auditor Donegall House 2 Floor 98-102 Donegall Street Belfast BT12GW
SOLAS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2023 Unrestricted Restricted funds funds 2023 2023 Totsl Total 2023 2022 Notes Income from: Charitable Aclivilies Investments 285,231 10 824,819 1,110,050 10 836,917 244 Total income 285,241 824,819 1,110,060 837,161 Ex endlturÈ on: Charitable activities 6,706 949,156 955,862 703,818 Total resourcos oxpended 6,706 949,158 955,862 703,818 Net lexpendlture)Iln¢ome for the year 278,535 -124,337 154,198 133,343 Tiansfers between funds -86,152 86,152 Net movement In funds 192,383 -38,185 154,198 133,343 Fund balances at 1 July 2022 131,902 461,399 593,301 459.958 Fund balance3 at 30 June 2023 324,285 423,214 747,499 593,301 The statement of financlal aclivilies includes all gains and losses reoognised in the year. All income and expenditure derive ffom conllnulng aclivitles. The slalement of financial activities also complies with the requirements for an income and expendlture account under Ihe Companies Act 2006,
SOLAS STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 30 JUNE 2023 2023 2022 Notes Fixed assets Tangible assets 171,775 175,200 Current assets Debtors Cash al bank and In hand 30,603 601,830 28,624 403,158 632,433 431,782 Credltor8: amounts falling duè withln one year 10 (56,709) (13,681) Net current assets 575.724 418,101 Net A88ets 747,499 593,301 Income funds Reslricled funds Unreslricled funds 11 423,214 324,285 461,399 131,902 747,499 593.301 These financlal statements have been prepared in accordance with the provisions applicable lo the companies subject to the small Gompanies, regime, The fin8nci81 statements were approved by the Trustees on Flonnguala Mccotter Trustee Company Registration No. N1072164 10
SOLAS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2023 NOTES 2023 2022 Cash flows from operatlng actSvities Cash generated from op8rations 13 230,102 140,819 Investirtg activities Purchase of tangible fixed assets (31,430) 132,5621 {31,430} (32,582) Net Increase In cagh and cash gquivalents 198,672 108,257 Cash and cash equivalents al the beginning of the year 403,158 294,901 cash and cash equivalents at the ond of the year 801,830 403,158
SOLAS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Accounting policles Charity infomiation solas is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 284A Parkmore Building. Ormeau Road, Belfast, BT7 2GB. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's constilulion, the Companies Act 2006 and °Accounting and Reporting by Charities.. Slaternent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporling Standard applicable in the UK and Republic of Ireland IFRS 102) las amended foT accounting periods commencing from 1 January 2016), The charily is Public Benefit Enlily as defined by FRS 102. The financial statements are prepared in sterling, which is the funclional currency of the charily. Monetary amounts in th8s8 financial stalemonts are rounded lo the nearest £. The financial statements have been prepared under the historical cosl convention, modified to include the revaluation of freehold propertiès and to include invèstment properiies and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concorn Al the tlme of approving the financial statements, the Irustees have a reasonable 8XP8clation that the charity has adequate resources lo continue in Operli0n31 exislenLe for the foreseeable future. Thus, the Iruslees continue to adopt the going concern basis of accounting in preparing the financial slalements. 1.3 Charliable funds Unreslricled funds are available foi use at th8 discretion of the truslees in furtherance of th8ir charitable objectives unless the funds have been designaled for other purposes. Reslricled funds are subject lo specific condltions by donors as lo how they may be used. The purposes and uses of Ihe restricted funds are set out in Ihe notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital musl be mainlained by the charity. 1.4 Incoming resources Income Is recognised when the charity is legally entitlèd to il 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 donalion, unless performance conditions require deferral ol the amount. Income tax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised at Ihe lime of the donation. Legacies are recognised on reipt or olhewise if Ihe charity has been notified of an impending dislribulion, thè amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a conlingent asset. Turnover is measured al the fair value of thè consideration received or receivable and represents smounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes. 1.5 Expendlture All expendilure is recognised on an aGcruals basis as a liability and is incurred and classified under headings Ihat aggregate all cost related to the category Expenditure on charitable aclivilies are costs incurred on the companies, charitable operations including support costs and costs relating to the governance to the company apportioned to charitable aclivilies. 12
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Accounting policies 1.5 Tanglble flxed assets Tangible fixed assets are initially measured at cosl and subsequently measured at cost or valualion, net of depreciation and any impairment losses. Deprcciation is recognised so as lo write off the cost or valuation of assets less Ihelr resldual values over their U8eful lives on the following bases.. Freehold land and buildings EquipmenlllT Equipmenl Motor Vehicles 4Yo Straight Line 33 % 120QA Straight Line 250/0 Slraighl Line The gain or loss arising on the disposal of an asset is determined as tho difference between the sale proceeds and the carrying value of the assel and Is recoonised in net incomel{oxpenditure) for the year. 1.6 Impairment of flxed as80ts At each reporting end date, the Gharily reviews the carrying amounts of ilb tangible assets to delermine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists. the recoverable amount of the assel Ss estimated in order to determine the extent of the impairment loss {if any). Intangible assets with indefinite usèful lives and intangible a5sels not yel available for use are lesled for impairment annually, and whenever there is an indication that the asset may be impaired. 1.7 Cash and rash equlvalents Cash and cash equivalents include cash in hand. deposits held al call with banks, other short-term liquld investments wilh original maturities of Ihree months or less, and bank overdrafis. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Flnan¢lal Instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Inslruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 lo all cf its financial instruments. Financial instruments are recognised in the charity's balance sheet when Ihe Charity becomes parly to the contractual provisions of the inslrumenl. Financial assets and liabilitles are offset, wllh the nel amounts presented in the financial slalements, when there is a legally enforceable right to sel off the r8CQgnised amounts and Ihere is an intention to sellle on a net basis or lo realise the asset and setlle the liability simultaneously. Basio financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including Iransaction cosls and are subsequently carried al amortised cost using the effeclive interest method unless the arrangement constitutes a financing Iransaclion, where the transaclion is measured at the present value of the fulure receipls discounted al a Inarket rate of interest. Financial assets classified as receivable within one year are nol amortised. 13
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Accounting poliGi93 Basic flnancial liablllties Basic financial liabilities, including créditors and bank loans are initially recognised at transaction price unless Ihe arrangement constitute5 a financing transaction. wherè the debt instrument is measured al the present value of the future payments discounted al a market rale of interest Financial liabilities classified as payable within one year are not amortised. Debt inslrum8nts are subsequently carried al amortised cost, using the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired In Ihe 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 trans8clion pric8 and subsequently measured al amortised cost using the effective interest method. Derecognition ol financlal Ilabllltles Financial liabilities are derecognised when the Gharily's contractual obligations expire or are discharged or cancelled. 1.9 Employee b8noflts The cost of any unused hollday entitlement is recognised in the period in whlch the employee's seNices are reived. Terminiilion benefits are recognised immediately as an expense when the charity is demonstrably committed to teimlnale the employment of an employe8 or lo provlde termination benefits. 1.10 Retirement benaflts Payments lo defined conlribulion retlrement benefit sch@me8 are charged as an expense as they fall du8. Critical accounting estimates and ludgements In the applicalion of the charity's accounllng policies, the trustees are required to make judgements, eslimales and assumptions about Ihe carrying amount of assels and liabililies that are not readily apparent from olher sources. The estimates and associated assumptions are based on hislorical experience and other factors that are considered lo be relovant. Aclual resulls may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounling estimates are recognised in the period in which the estimate is revised whère the revision affccts only that period, or in the period of the revision and future periods where the revision affects both Lurrent and future periods. 14
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Charltable activities Unrestricted Restricted funds funds Totsl Total 2023 2023 2023 2022 Fees Grants 285,231 285,231 824,819 192.946 643,971 824.819 285,231 824,819 1,110,050 836,917 Investments Unrestrlcted funds Total 2023 2022 Inleresl receivable 244 15
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 5 Charltable actlvlties Charltsble Charitable Expendlture Expendlture 2023 2022 Stsff costs Depreciation & Impairment Actlvlties & Resources Training Telephone & Inlernel Stationery & Printing Rent Motor & Travel Heat & Light IT Insurance Advertising Legal & Professlonal Fees Subseriplions Room Hire & Calering Payroll & Accountancy Consultancy Cleaning & General Repairs and Maintenance Bank Charges Access Nl Waste disposal Equipment Staff entertainment Sundry 668,664 34,856 49,998 1,844 14,457 3,688 42,178 14,620 10,974 536.946 18,614 35,644 1,027 12,962 3,179 33,380 7,351 10,721 1,251 6.196 50 360 1,076 8,357 1,410 10,619 370 3,850 230 1,947 618 9,424 126 9,993 g06 7,101 1,605 10,514 1,266 47,874 312 1,947 701 14,453 719 1,212 700 1,920 949 432 Share of governance co8t8 {Audit Fees) Fire Safety 5,040 1,390 5,040 Analysls by fund UnresliiGled funds Restricted funds 8,7Q6 949156 134.131 569 687 16
SOLAS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Trustees None of the Trustees received any remuneration or benefits from the charity during the year. No person conn8Cted with a Trustee received a salary frem the charity during the year12022: Nil). Employees Number of employees 2023 Number 2022 Number The average monthly number of employees during the year was.. 61 50 Employment costs 2023 2022 Wages and salaries Social security costs Pension costs 641,178 15,306 12,180 517,671 10,281 8,994 668,e64 536,946 Key Management Personnel Key management personnel includè all persons that have authority and responsibility for planning, directing, and controlling the activities of the Charity. Key management include the Managing Director, Childcare SeNices Manager, HR Manager and Finance Administrator. The total compensation paid lo key management personnel for services provided lo the Charity was £97,691. No employee of the Charity received employee benefits of more than £60,000 during the year. (2022.. Nil) 17
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Tangible flxed assets Freehold land Flxturès, Flttlng8 and bulldlngs and Equlpment Motor vèhicles Total C08t At 1 July 2022 Additions 173,650 79,091 5.690 49,433 25,740 302,174 31,430 At 30 June 2023 173,650 84,781 75,175 333,604 Depreclatlon and impalrm8nt At 1 July 2022 Depreciation charged in the year 27,783 6,946 64,003 10,44S 35,188 17,464 126,974 34,856 At 30 June 2023 34,730 74.449 52,651 161,832 Carrylng amount At 30 June 2023 138,920 10.332 22,523 171,775 AI 30 June 2022 145,867 15,088 14,245 175,200 Debtors 2023 2022 Prepayments and accrued Income 30,603 28,624 30,603 28,624 10 Credltor8'. amounts falllng due within one year 2023 2022 Other taxation and social security Accruals and deferred income 13,332 43,377 6,023 7,658 56,709 13.681 18
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 11 Rastrlcted 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.. Movement In funds Incoming Resources expend8d r950urGes Balanc& at 1 July 2022 Transfer8 Balance at 30 June 2023 Back on Track Home Support Respile {DireGI payment) Kids Den Therapeutic Services SONA Youth & TBUC Podcast Health Early Years Parkmore & The Patch Programme Fun Day 938 69,061 25,146 25,008 471 15,182 82,528 11,446 32,840 198,494 285 3,315 106,967 313,170 38.837 112,561 15.615 91,636 19,0491 (108,7881 1369,6031 <40,690) <85,264) (80,867) (89.689) 4,795 67,241 31,288 23,155 27,768 50,070 84,474 11,446 17,297 191.547 285 142,719 (158,261) (6,946) 461,399 824,819 1949,156 86,152 423,214 12 Analysls of net assets botween funds Unreslrlct8d Restrlcted Funds Funds Total 2023 Total 2022 2023 2023 Fund balances at 30 June 2023 are represented by: Tangible assets Current asselsl{liabililiesl 10,333 313,952 161,442 261,772 171,775 575,724 175,200 418,101 324.284 432,214 747,499 S93,301 19
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 13 Cash generated from operatSons 2023 2022 Surplus for the year 154,198 133,343 Adjustments for.. Depreciation 34,856 18,614 Movernents in working capital.. (lncreasel in debtors Increase in creditors 11,9791 43,027 10,290 (21,428) 230,102 140,819 1 July 2022 Cash Flow8 30 June 2023 14 Analysis of changes In net funds Cash at bank and in hand 403,158 198,672 601,830 403,158 198,672 601.830 15 Related party transaclions There were no related party transactions during the year {2022'. Nil). 16 Retlrement ben8flt scheme The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charily in an independently administered funds. The charge to profit or loss in respect of defined contribution schemes was £12,18012022. £8,994) 20
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 17 Taxatlon solas has been granted charitable stalus by the inland revenue. Charity Number.. NIC100114 18 Deferred Income 2023 2022 At 1 July 2022 Amount released to income Amount deferred in year 35,527 At 30 Jun• 2023 35,527 21