Charlty Registration No. NIC100114 Company Registration No. N1072164 (Northern Ireland) SOLAS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
SOLAS LEGAL AND ADMINISTRATIVE INFORMATION Trustees Tom Doran (resigned 24 Jan. 2024} Emily Gallagher Fionnguala Mccolter {Chair) Caitriona Nic Sheain Lorraine McErlain (appointed 7" Nov. 2024) Elaine Holmes Ross Reid (resigned 14" Dec. 2024) steven Egan (appointed 7? Nov. 20241 Mairead Mccartan Joanne Mercer Jean McGann Secretary Fionnguala Mccotter Joanne Mercer Charlty number NIC100114 Company number N1072164 Reglslered offlce Parkmore Building 284a Ormeau Road Belfast 8T7 2GB Audltor Kearney & Co Donegall House 2nd Floor 98-102 Donegall Street BELFAST BT12GW
CONTENTS Page Trustees, report Independent audilorfs report stalemenl of financial activities Balance sheel Slalemenl of cash flows Notes to the financial stalements 10 12-21
TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2024 The Trustees present their report and financlal statements for the year ended 30 June 2024. The financial slatements have been prepared in accordance with the aGGounting policies set out in note 1 to the financial slalemenls and comply wilh the charity's governing document, the Conipanies Act 2006 and °Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}. (as amended for accounting periods commencing from 1 January 2016). Objectives and actlvilles The charity's objectives are to. Advance health and wellbeing, education and development. with particular reference to those children with special needs currently falling Outside the statutory provision.. Provide 'pathways' to services which vulnerable families may not normally be able to access,. Support families who engage with Solas, and build a strong physical and practice infrastructure which will provide consistent, quality care and support. Ensure that the voices of childrenlyoung people with mild to severe leaming disabilities are heard and that thelr voices shape and influence the development of government policies and mainstream seNices', Increase the visibility of childrentyoung people, their parentslcarers and siblings and ensuring their full participation in community life., Lobby and advocate for increased bespoke servi$ for families through representation on all key commiltees, steering groups and bodies with the potential to support our work., Train highly skilled staff to promote our commitment to excellence. working with academic institutions, voluntary agencies and statutory bodies to ensure that our practice and experience contributes lo research and evaluations which work towards improving practice., Develop a team of dedicated volunteers vtho use their skillslexperience in schools, ensuring children are supported lo have an optimum education experience. Current servlces Include: (1 > Childcare l Youth & Respite Services (including Aftewhools l Respite Support, afternoons, evenings and weekends, Saturday Clubs, Sibling Clubs. Youth clubs, Summer & holiday schemes. These interventions primarily focus on ensuring that those with disabilities experience the same opportunities for inclusion in the community as other young people. They also facilitale parents who need childcare, as well as parents who need respite support. (2) Home Support & Therapeutic Services - providing Home Suppcrt, information and practical support for parents of children in the process of a diagnosis or, with a recent diagnosis: Parent Programs, Parent Advice. Providing Therapeulic Services for childrenlyoung people and their parenlslcarers including play therapy, art therapy, counselling and well-being activities for adult carers I parents as well as young carers. These interventions primarily focus on supporling children and young people wth disabilities including autism, and their parents I carers, who feel isolated. alone and are experiencing mental health issues. (3) Early Years Programme- Supporting children and families through Play & Stay right up to Pre-school. Solas is the lead partner in the Special Education Needs, Belfast Wde Early Years (BWEY) Inilialive. including the following partners, Glenbrook Surestart. Kids Together Belfast, East Belfast Surestart and Solas. Our BWEY Seedlings 2-3 year old development program and our BWEY Sunflowers 3-4 year old programme for children with disabilities, supporls 30 children each year. In Sept 2023, we yre invited by the DE to deliver a SEN pre-school provision for children wth disabilities and with a Statement of Educational Need in place.
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2024 (4) Educational Programmes.. Programmes targeting children with mild additional needs and not achieving their full learning potential (Back on Track Program). as well as Educational Workshops (51 Young Adults Programme SONA - for young adults transitioning 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 to be with their peers. The policies adopted in furtherance of these objects are. Enhance the physical infrastiucture of the organisation ensuring that facilities are fit for purpose and designed to best meet the complex needs of many of the service users supported. In the past year we have developed a new programme SONA, and hired a new space al the YMCA site in Stranmillis, which we developed for young adults transitioning from Special School. This programme supports young people with life skills, cookery, independence skills, healthy eating and wellbeing, exercise, social skills. trips, etc 2. Consolidale and strengthen the organisalion's services. expand the capacily of solas to deliver vit£l programmes to children, young people and their families. and lo ensure the long-lerm sustainability of Ihe organisation through creating a business model which is robust and reduces their current dependency upon grant funding. 3. Work collaboratively with a diverse range of organisations, all of which contribute lo Ihe delivery of effeclive services, primarily to benefit children and young people with additional needs across Belfasl. In partlGular, solas works with 3 key partnership5, South Belfast Surestart {Ihrough the Early Years and Urban Village A Place STEP programme; and the Belfast Wide Early Years {BWEY) partnership led by solas. We also collaborate on youth programmes with Kids Together, a similar disability service organisation to solas operating in West Belfast. 4. Promote excellence in their practice - solas works closely wilh all Belfast based Universities and Teacher Training College5. solas currently offers placement opportunities to students from QUB, Slranmillis, St Marys & UUJ studying a number of degree programmes (including health & social care, psychology, education, masters in autism, and masters in atypical child developmenl). Many of the students who come to solas on placement are relained as staff memberslvolunteers. 5. Tackle disadvantages experienced by children and young people with moderate to severe learning needs who experience an acute lack of choice or options throughout their lives when trying to access appropriate services., Ihrough delivery of early years and daycare services, afterschool provision, youlh services and educational support. 6. Grow organically and continue to develop a diverse range of programmes, projects and activities which meet the needs of the whole family., the group currently deliver their services across 8 settings, the majority of which are located in areas of gre8test disadvantage. 7. Generate income through Social Enterprise actNlties delivered through access to 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 category are eligible to access direct payments from the Belfast Health and Social Care Trust and can use it lo buy in Ihe support they feel is most needed to improve Iheir quality of life and provides benefit to them personally. S61as provides self-directed support senfices and also offers administrative support to families to ac$$ the scheme.
SOLAS TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2024 Childcare l Youth and Respite Setvices - these services focuses upon children aged 5 to 18 years old and as per core mission, targets those children with the most complex and challenging needs.11 provides a valuable childcare seNice for working parents, and respite for those parenls who desperately need support. These services are tailored and based upon the needs of each individual child l young person with suitable slaffing support in place as per organisalional policies and experience. 9. Engage with Parentslcarers to enhance Seices- solas èngages wilh parents and carers on a daily basis in relation lo the needs of bolh their children and themselves. The feedback and information they provide is vital to the ongoing success of the organisation. Parenlslcarers inform the development and enhancement of core programmes and activities Parentslcarers readily support evaluations, research and frequently represent the needs of their child(ren)lorganisation to funders, politicians and statutory authorities. 10. Engage with Staff - Engagement with our staff team is critical. The feedback and input they make to ensure delivery of high-quality seNice and provision is vital to the day to day running of the organisalion. 11. Engage the Local CommunitylBusinesses to provide support to the organisation., this helps us create an extended welcoming and safe environment for the childrenlyoung people and parenlslcarers who use our facilities. 12. Community Organisalions- solas works extensively and engages wilh a diverse range of community organisalions. We are part oflhe Ulidia Campus Plans. which includes solas, Rosario Football Club as well as Scoil an Droichid (primary school moving to the newly iefurbished Ulidia School site adjoining solas and the Ulidia Playing Fields). The campus partners have been working togelher for several years to deliver services lo the community and to maximise the use of the communily resources that we collectively hold. 13. We also work closely with Fomard South Partnership and South Belfasl Sureslart, with whom we have service delivery partnerships. In addition we hire rooms from, YMCA, Mornington, Rosario Youth Club, Village Church Haypark and Scoil an Droichid lo support the delivery of some of our community services. 14. Local Schools - solas and local schools engage on a daily basis in the best interests of the childrenlyoung people attending the organisalion. Their services are interdeperKlenl and necessary to create the best possible development and educational opportunities for the children WIK) attend their facilities. Schools understand the challenges of providing safe and consistent care for children who need stability in order to Ihrive. Schools support and understand the need for this project. 15. Belfast Trust and DE - solas has engaged from the outset with key slalutory agencies in developing the setvices which are so important lo so many families. Positive engagement is essential 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 Charity should undertake.
SOLAS TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2024 Achievements and performance Solas has experienced another year of grovrfth, responding to the increasing demand for care I respite, educational support, deveSopmenlal programmes, therapeutic services and home support, across Belfast and further alield. The establishment of our young adults transition programme, SONA, has been further developed in the year, and is supporting a growing number of young people coming Ihiough from children's services. Many of these young people have experienced our children's seNices and are now al the point of leaving special school and need a bespoke support progfamme. SONA endeavours lo help young adults lo reach their full potential, by encouraging new skills and further developing existing skills in a holistic and individual way 11 includes independent living skills, su¢h as cookery, self-caie, laundry. money management elc. It also promotes health & wellbeing, such as physical exercise. healthy eating. art therapy, yoga, mindfulness, and offers all participants social opportunities lo enjoy a range of leisure and recreations, such as bowling, swimming, day trips elc with peers. Contracts with the BHSCT demonstrate the growing confidence that the Disability Services al the trust place on services offered at solas. Cash balances have improved, net assets have been maintained and Ihe charily is able to maintain healthy operating surplus. solas received a significant boost in the year with securing £250.000 from the Goodman Foundation towards the new £2.5m building developmenl project. A further £250,000 from Goodman Foundation has been guaranteed once the construction starts. Financial Revlew The results for the year are set out on the Statement of Financial Activities. The Truslees consider the financial results salisf8clory. solas has a risk management policy in place under which risks are identified and reviewed by management on a regLJlar basis. Procedure5 are in place to manage the risk5. It Is the policy of the charity that unrestricted funds which have not been designated for a specific use should be mainlained at a level equivalent to between three- and six-monlh's expenditure. The Trustees consider that reserves al this level will ensure that, in the event of a significant drop in funding. they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reseeS has been mainlained throughout the year. The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place lo mitigate exposure lo the major risks.
SOLAS TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2024 Structure, governance and management The charity 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 Assccialion and is governed by ils Articles of Association. The Trustees, who are also the directors for the purpose of company law. and who served during the year and up to the dale of signature of the financial stalements were: Fionnguala McColter- Director Chair Tom Doran (resigned 24" Jan. 2024) Emily Gallagher Caitriona Nic Sheain Lorraine McErlain appointed 7 November 2024 Elaine Holmes Ross Reid resigned 14 Dec 2024 Steven Egan appointed 71Th November 2024 Mairead Mccartan Jean McGann Joanne Mercer None of the Trustees have any beneficial interest in the Company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The directors of the company are also charity Trustees for the purposes of Charity Law. Under the requirements of the Memorandum and Articles of Association directors are elected ai an Annual General Meeting by the members (in person, or through an aulhorised representative or by proxy}. All new directors receive in-house induction and Iraining appropriate to their roles. Solas has a Managemenl Committee, made up of Trustees. The Committee meets regularly and are responsible for the strategic direction and policy of Ihe charity- The day-to-day responsibility for the provision of the services rests with the manager and the senior management team. Audltor The Board of solas approved appointment of Kearney & Co as their auditor for the year. The Trustees, report was approved by the Board of Trustees. Fionnguala Mccotter Trustee Dated:
SOLAS TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2024 statement of Trustees, Responsibilities The Trustees, who are also the directors of solas for the purpose of company law, are responsible for preparing the Trustees, Report and Ihe financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the Trustees to prepare financial statements for each financial year which give a tiue and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial slatemenls. the Trustees are required to= select suitabl& accounting policies and then apply them consistently: observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are Tesponsible for keeping adequate accounting records that disclose with reasonable accuracy at any lime the financial position of the charity and enable them lo ensure Ihat the financial stalements comply with the Companies Act 2006. They are a150 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audltor Each of the persons who is a Trustee al the date of approval of this report confirms that. so far as they are aware. there is r relevant audit information of which the charity's auditor is unaware; and they have laken all relevant steps that they ought lo have taken as trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of thal information. Small company provisions This report has been prepared in accordance with Ihe provisions applicable to companies entitled to the small companies, exemption.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SOLAS Opinion We have audited the financial stalemenls of Sola5 (the 'charity') for the year ended 30 June 2024 which comprise the slatement 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 Reporting Slandard applicable iii the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the stale of the charitable company's affairs as at 30 June 2024 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 Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnion We conducted our audit in accordance wilh International Standafds on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are furiher described in the Auditors respoiisibililies for th8 audil of the financial s¢alements section of our report. We are independent of Ihe charity in accordance with the ethical requirements that are relevant to our audil of the financial statements in the UK, including the FRC'S Elhical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng concern. In auditing the financial statements. we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial slatemenls is appropriate. Based on the work we have performed, we have nol identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibililies and the responsibilits'es of the Twstees with reScl to going concem are described in the relevant sections of this report. Other Informatlon The other information comprises the information included in the annual feport other than the financial statements and our auditor's report thereon. The Trustees are responsible for the olher infomiation contained within the annual report. Our opinion on Ihe financial statements does not cover the olher infomiation and, except to the exlenl otherwise expli¢illy slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other information and, in doing so, consider whether Ihe olher infomation is materially inconsistenl with the financial statements, or our knowledge obtained in the course of the audit, or olhervise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo deteimine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that facl. We have nothing to report in this regard. Oplnlons on other matters prescrlbed by Ihe Companies Act 2006 In our opinion, based on the work undertaken in the couise of our audit- the information given in the Trustees, report. 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 slatemenls", and the directors, report included within Ihe Trustees. report has been prepared in accordance with applicable legal requirements.
SOLAS INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SOLAS Matlers on which we are requlied to report by exception. In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors. report included wilhin the Trustees, report. We have nothing to report in respect of the lollowing matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have nol been received from branches not visiled by us., or the financial slatemenls are not in agreement with the accounting records and returns., or certain disclosures of Trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit.. or the Directors were not entitled to prepare the financial slalements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the Trustees, report and from the requirement lo prepare a strategic report. Responslbilities of the Trustees As explained more fully in the statement of Trus(ees' responsibilities, the Trustees are responsible for the preparation of the financial stalements and for being satisfied that they give a true and fair view, and for such inlernal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whelher due to fraud or error. In preparing the financial statements. the Trustees are responsible for assessing Ihe charity's ability to continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Audllor's responsibllltles for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstalemenl, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misslatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expeGted to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are inslances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to delecl material misstatements in respect of irregularities, including fraud. The exlenl to which our procedures are capable of detecting irregularities. including fraud, 15 detailed below. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 www.frc.org.uklauditorsresponsibilities. Thi5 desciiplion forms part of our auditor's report. This report is made solely to the company's members, as a body, in accordance with the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required lo state to in an auditor's report and for no other purpose. To the fullest exient permitted by law. we do not accept or assume responsibility to anyone other than the company and the company's members as a body. for our audit work, for this report, or for the opinions we have formed. -ruQl'Je. Sarah Loulse Lynch (Senior Statutory Audltor For and on behalf of Kearney & Co Chartered Accountants statutory Audltor Donegall House 2nd Floor 98-102 Donegall Streel Belfast BT12GW
SOLAS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unrestricted Restricted funds funds 2024 2024 Total Total 2024 2023 Notes Income from: Charitable Activities Investments 478,481 812,233 1,290,714 1,110,050 10 Total income 478,481 812.233 1,290.714 1,110,060 endlture on: Charitable activities 68.923 1,033.699 1,102,622 955,862 Total resources expended 68.923 1,033,699 1,102,822 955,862 Net {expendllure)Iln¢om& for the year 409,558 (221.466) 188,092 154,198 Transfers between funds (344,219) 344.219 Net movement In funds 65,339 122,753 188,092 154,198 Fund balances at 1 July 2023 324,285 423,214 747,499 593,301 Fund balances at 30 June 2024 389,624 545,967 935,591 747,499 The statement of financial activities includes all gains and losses recognised in the year. All income and expendilure derive from continuing aclivities. The statement of financial aclivilies also Complies wilh the requirements for an income and expenditure account under the Companies Act 2006.
SOLAS STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Notes Fixed assets Tangible assets 150,074 171,775 Current assets Debtors Cash at bank and in hand 51,540 1.080.094 30,603 601,830 1,131,633 632,433 Credltors: amounts falllng due within one year 10 (346,117) (56,709) Nel current assets 785,517 575,724 Net Assets 935,591 747,499 Income funds Restricted funds Unreslricled funds 11 545.967 389,624 423,214 324,285 935.591 747,499 These financial statements have been prepared in accordan with the provisions applicable lo the comp8nies subject to the small companies, regime. The financial statements were approved by the Trustees on Flonnguala Trustee ccotte Company Registration No. N1072164 io
SOLAS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 NOTES 2024 2023 Cash flows from operating actlvities Cash generated from operations 13 497,043 230,102 Investlng actlvities Purchase of tangible fixed assets {18.779) (31,430> {18.779) (31,430) Net Increase in cash and cash equlvalents 478,264 198,672 Cash and cash equivalents at the beginning of the year 601,830 403,158 Cash and cash equivalents at the end of the year 1,080,094 601,830
SOLAS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies Charity information 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 Accountlng convention The financial slatements have been prepared in accordance with the charity's constitution, the Companies Act 2006 and "Accounting and Reporting by Chaiities.. 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 IFRS 102)" (as amended for accounting perio(fjs commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, lch is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial slatemenls have been prepared under Ihe historical cost convention, modified to include the revalualion of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are sel out below. 1.2 Going concern At the time of approving Ihe financial statements, the Irustees have a reasonable expeclation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charllable funds Unrestricted funds are available for use al the discretion of the trustees in furtherance of their charitable objectives unless the fund5 have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the noles lo the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charily. 1.4 Incoming resources Income is recognised when Ihe charity is legally entitled to it after any performance conditions have been met, Ihe amounts Can be measured reliably, and it is probable Ihat income will be received. Cash donations are recognised on receipt. other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of Ihe amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are iecognised on receipi or olherwise if the charity has been notified of an impending disliibution. the amount is known, and receipt is expected. If the amount Is not known. the legacy is treated as a contingent asset. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the nomial course of business, net of discounts, VAT and other sales related taxes. 1.5 Expendlture All expenditure is recognised on an accruals basis as a liabilily and is incurred and dassified under heading5 that aggregate all cost related to the category. Expenditure on charitable activities are costs incurred on the companies, charitable operations including support costs and costs relating to the govemance to the company apportioned lo charitable activities. 12
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accountlng pollcies 1.5 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impaiimenl losses. Depreciation is recognised so as to write off Ihe cost or valuation of assets less their residLial values over their useful lives on the following bases: Freehold land and buildings EquipmenVIT Equipmenl Motor Vehicles 40A Slraighl Line 33 % 1200h Straight Line 250k Straight Line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net incomel(expenditure) for the year. 1.6 Impairment of flxed assets Al each reporting end dale, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indicalion exisls, the recoverable amount of the asset is ests'mated in order lo determine th8 extent of Ihe impairmenl loss (if any). Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairmenl annually, and whenever there is an indication that the asset may be impaired. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held al call wilh banks, other short-term liquid Investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing5 in current liabilities. 1.8 Financlal instrurnents The charity has elected to apply the pvISIonS of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instiumenls Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when Ihe charity becomes party to the contractual provi5ion5 of the inslrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo settle on a nel basis or to realise the asset and settle the liability simultaneously. Baslc flnanclal assets Basic financial assets. which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 13
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accountlng policies Basic flnancial liabijities Basic financial liabilities, including credilors and bank loans are initially recognised al transaction price unless the arrangement conslitules a financing transaction. where the debt inslrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, Using the effective interest rate method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non-currenl liabilities. Trade creditors are recognised initially al transaction price and subsequenlly measured at amortised cost using the effective inleresl method. Derecognltlon of flnanclal Ilablllties Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.9 Employee beneflts The cost of any unused holiday enlitlement is recognised in the period in which the employee's services are received Termination benefits are recognised immediately as an expense when the charity is demonslrably committed to terminate the employment of an employee or to provide terminakn'on benefils. 1.10 Retlrement beneflts Payments lo defined contribution relifemenl benefit schemes are charged as an expense as they fall due. Crltlcal accountlng estlmates and Judgements In the application of the charity's accounting policies. Ihe trustees are required to make judgements, estimates and assumptions about the carrying amount of assels and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other faclors that are considered to be relevant. Actual resulls may differ from these estimates. The eslimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in Ihe period in which the eslimale is revised where the revision affecls only that period, or in the period of the revision and future periods where the revision affects both currenl and fulure periods. 14
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Charltable activities Unrestrlcted Restricted funds funds Total Total 2024 2024 2024 2023 Fees Grants Donations 462,288 462,288 812,233 16,193 285,231 824,819 812,233 16,193 478.481 812,233 1,290,714 1,110,050 Investments Unreslricted funds Total 2024 2023 Interest receivable 10 15
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 5 Charitable activities Charitable Charitable Expenditure Expenditure 2024 2023 Staff cos15 Depreciation & Impairment Activities & Resources Training Telephone & Internet Slalionery & Printing Rent Motor & Travel Heat & Light Employee Benefits Insurance Advertising Legal & Professlonal Fees Subscriptions Room Hire & Catering Payroll & Accountancy Consultancy Cleaning & General Repairs and Maintenance Bank Charges Access Nl Waste disposal Equipment staff entertainment Sundry 844,418 40,482 49,389 2.920 12,892 4,322 49,990 13,345 18,505 1,600 3,012 6,134 11,687 999 7,746 1,962 8,962 1,734 5,770 331 1,718 1,872 4,517 38 2,833 668,664 34,856 49,998 1,844 14,457 3,688 42,178 14,620 10,974 9,424 126 9,993 906 7,101 1,605 10,514 1,266 47,874 312 1,947 701 14,453 719 1,212 1097 178 949 432 Share of governance costs (Audit Fees) Fire Safely 5,040 404 5,040 1,390 Analysis by fund Unrestricted funds Restricted funds 68.923 1033 699 6,706 16
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Trustees None of the Tiuslees received any remuneration or benefits from Ihe chaiity during the year. No person connecled with a Trustee received a salary from the charity during the year (2023.. Nil). Employees Number of employees 2024 Number 2023 Number The average monthly number of employees during Ihe year was: 66 61 Employment costs 2024 2023 Wages and salaries Social security costs Pension costs 639,839 132,330 72,249 641,178 15,306 12,180 844,418 668,664 Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning, directing, and conlrolling the activities of Ihe Charity. Key management include the Managing Director, Childcare Services Manager, HR Manager and Finance Administrator. The total compensation paid to key management personnel for services provided lo the Charity was £97.691. No employee of Ihe Charity received employee benefits of more than £60.000 during the year. (2023.. Nil) 17
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Tangible fixed assets Freehold land Flxture5, Fittings and buildings and Equlpmènt Motor vehlcles Total Cost At 1 July 2023 Additions 173.650 84,781 18,779 75.175 333,604 18,779 At 30 June 2024 173,650 103,560 75,175 352,385 Depreclatlon and Impairment At 1 July 2023 Depreciation charged in the year 34,730 6,946 74,451 14,742 52,651 18,794 161,832 40,482 At 30 June 2024 41.676 81,189 71.445 202,314 Carrylng amount At 30 June 2024 131,974 14.369 3,730 150,074 At 30 June 2023 138,920 10,332 22,523 171,775 Debtors 2024 2023 Prepayments and accrued income 51,540 30,603 51,540 30,603 10 Creditors: amounts falling due wlthln one year 2024 2023 Other taxation and social security Accruals and deferred income 14,009 332,108 13,332 43,377 346,117 56,709 18
SOLAS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 30 JUNE 2024 11 Restricted funds The income fiinds of the charity include restricted funds comprising the following unexpended balances of donations and granls held on Irust for specific purposes.. Movement In funds In¢oming Rgsour¢e$ 8xpended resources Balance at July 2023 Transfers Balance at 30 June 2024 Back on Track Home SLtpport Respite (Direct payment) Therapeutic Services SONA Youth & TBUC Early Years Capitsl Other 34,601 67,241 36.820 142,165 204,842 135,084 3,204 49,356 223,512 (20,222) (88,419) (479,927) (84,122) (72,338) {109,909) (171,816) (6,946) 51,199 120,987 275,085 27,769 78,731 69,134 84.474 17,297 191,547 285 23,921 88,993 184,601 17,535 17,250 423,214 812,233 11,033,699) 344,219 S45,967 12 Analysis of nel assets between funds Unrestricted Restricted Funds Fund5 Total 2024 Tolal 2023 2024 2024 Fund balances al 30 June 2023 are represented by: Tangible assets Current asselsl(liabilities) 14.370 375,254 135.704 410.263 150,074 785,517 171,775 575,724 389,624 64S,967 935,591 747,499 19
SOLAS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 13 Cash generated from operations 2024 2023 Surpliis for the year 188,092 154,198 Adjustments for.. Depre¢ialion 40,482 34,856 Movements in working capital: (Increase) in debtors Increase in creditors (20,938) 289,407 11,979) 43,027 497,043 230,102 1 July 2023 Cash Flows 30 June 2024 14 Analysis of changes In net funds Cash at bank and in hand 601,830 478,264 1,080,094 601.830 478,264 1,080,094 16 Related party transactions None of the trustees have been paid any remuneration or received any olher benefits from an employment with the charity or a related enlity (2023 - Nil). During the year ended 30 June 2024, a dose relative of the Managing Director was paid £220.50 for work carried out. 16 Retlrement beneflt 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 charity in an independenlly administered funds. The charge to profit or loss in respect of defined conttibution schemes was £16,894 (2023: £12,180). 20
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 17 Taxatlon solas lias been granted charitable slalus by the inland revenue. Charity Number.. NIC100114 18 Deferred Income 2024 2023 At 1 July 2023 Amount released to income 35,527 {35,527) Amount deferred in year 325,163 35,527 At 30 June 2024 325 163 35,527 21