Friends of Arvalee School & Resource Centre Trustees, report and financial statements for the year ended 31 August 2023 Northern Ireland Charity number: NIC100362 McFarland Arnold & Co Chartered Accountants
Friends of Arvalee School & Resource Centre Contents for the year ended 31 August 2023 Page Legal and administralive infoi'malion Truslees, report Accountants, I'eport to ihe trustees Statement of financial activities Balance sheet Noles to the financial stateinents 7-10
Friends of Arvalee School & Resource Centre Legal and administrative information for the year ended 31 August 2023 Legal status This association is a registei'ed charity with the Charity Commission for Noithern Ireland since 4 July 2014 under registi-ation nuinbei. NIC100362. Trustee5 Melanie Bell Annmarie Bradley Karen Connolly Doniia Dillon Kathleen Gallagher Kellie Gavin Eimear Keys Jason Sawyers Karen Shark¢y CCNI Charity number NIC100362 Registered office Slrule Campus Goitin Road Omagh Co Tyrone BT79 7DH Accountants McFarland Arnold & Co 8 Maiii Sti'eet Newtownslewart Co Tyrone Business address Strule Campus Gortin Road Oinagh Co Tyrone BT79 7DH Page I
Friends of Arvalee School & Resource Centre Trustees, report for the year ended 31 August 2023 The trustees present their repoit ai)d the financial staleinents for the year ended 31 August 2023. Trustees Coinmittee members of the association, known as Irustees for the purpos¢ of charity law, who served during the yeai. and up to tlie date of this repoit al'e s¢t out on page l of the fiiiancial statements. Charitable objects Arvalee School is for children and young peopl¢ aged between three and nineteei) years old who have severe to Inoderate learning difficulties. Music and sensory ¢xpei'iences give the pupils oppoi'tunili¢s to enhance their confidenc¢, coinmunication aiid enjoyment of life. Expei-iences in this area cannot always be provided as part of the curriculum and the school believes that the enhanc¢d alternalive curriculum makes a huge diffei'ence to the lives of the childi'en. As a i'¢sult Frieiids of Ai'valee School & Resource C¢nlre was established. The association has an active Parent, Teacher and Friends association which is able to fundi'ais¢ and provide eventslactivities for pupils of Ai'valee School and theii. familie5, provide funds foi. additional i'¢soui'ces for Ai'valee school and build links wilh the local conimunity. The association will also support the educational progi'ess and altainment of pupils in Ai'valee school. Friends of Arvalee School & Resoiirc¢ Centre is a registered chai'ity with Ihe Charity Coinmission for Northern Ireland since 4 July 2014, und¢r i-egistration number NICI 00362. Organisational structure The Irustees meet regularly, administer the company and make all policy decisions. Review of activities and achievements The i-esults reflect the activities cai'ried on within tlie association during the year. Due to the covid-19 pandemic the association was unable to run events during the year. Howevei., since I Sepieinber 2023 the association has r¢-commenced fundraising and providing eventslactivities. Going concern The considei'ed view of the trustees is tliat, after Inaking enquii'ies, they have a I'easonable expectation that the association will have adequate resoui'ces available to finance ils obligatioiis for the foreseeable future. The Ti'ustees are not awai'e of any events likely to occur in the twelve months following the date of appi'oval of the fiiiancial statements that may have an impact on the association's ability to continue as a goiiig concern. We believe il is ihei'efore appropriate for the financial statements to be prepared on the going concei'n basis. Reserves The resulis for the yeai. are set out oi) page 5 of the financial statemeiits. The purpose of the funds are outlined in the notes to the financial statements. Page 2
Friends of Arvalee School & Resource Centre Trustees, report for the year ended 31 August 2023 Statement of trustees, responsibilities The Trustees are responsible for pi'eparing the Trustees, Repoit and tlie financial statements in accordance with applicable law and i-egulations. Charity law r¢quires the trustees to prepare financial stateinents for each financial year which giv¢ a true and fair vi¢w of the stale of affairs of the charity at the year end and of its incoming resources and resources expended during that year. In pi'epai'ing those financial slatements. the ti'ustees are I'equired to: select suitable accounting policies and then apply them consistently. make judgeinents and esliniates that are reasonable and priident. state whether applicable accounting standai'ds and statements of r¢commend¢d practic¢ have b¢en followed subject to any depailures disclosed and explained in the financial statements. and prepare the financial statements on the going conceim basis unless it is inappi'opriate to presume that ihe chai-ity will continue in business. The trustecs are responsible for keeping proper accounting records which disclose with reasonable accuracy at any tiine the rinancial position of tl)e chai'ity and enable Ihem to ensui'e that the financial statements Comply with tl)e Charities Act 1993. They are also responsible for safeguarding the assels of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Accountants The trustees recommend that McFarland Ai'nold & Co remain in office until furthei. notice. Special provisions relating to small companies This repoit has been prepared in accordance with the Statement of Recommended Practice.. Accounting ai)d Reportii)g by Charities (FRS 102). This report was approved by the trustees on ag ly 202*nd signed on its behalf by Signature: Najne (in block capitals): Trustee Page 3
Friends of Arvalee School & Resource Centre Accountants, report on the unaudited financial statements to the trustees of Friends of Arvalee School & Resource Centre for the year ended 31 August 2023 We have compiled the financial statements of Friends of Arvalee School & Resource Cenli'e for the year ended 31 August 2023 as set out on pages 5 to l O, which comprise the statement of financial activities, the balance sheet and the related notes from the accounting records and infoi'malion and explanations you have given to us. This report is made to the association's board of trustees, as a body, in accordance wilh the tenns of our engagement. Oui. work has beeii undertaken so that we might compile the financial stateinents that we have been engaged to compile, repoit lo the association's board of trustees that we have done so, and state tliose matters that we have agreed lo state to the1 in this report and for no other person. To Ihe fullest extent permitted by law, we do not accept or assume responsibility to anyone other ihan the association and the association's board of irustees as a body, for oui. work or for this i-epoit. Respective responsibilities of the trustees and accountants As described in the slalement of irustees, responsibilities the association's ti'ustee5 are responsible foi. ensuring that the association Maintains proper books of account and foi. prepai'ing financial statements which give a true and fair view. It is our I'esponsibility to compile Ihe financial statements of Friends of Arvalee School & Resoui'ce Centre from the accounting resords, information and explanations supplied to U5 by the association. Basis of opinion Our work was conducted in accordance with the Statemei)t of Standards for Reporting Accountants, and so our pi'ocedure5 consisted of comparing the financial stateinents with the accounting I'ecoi'ds kept by the association and making such limited enquiries of the ts'ustees of the association as we considered nece55ary for Ihe purposes of this repoit. These procedures provide only ih¢ assurance expressed in our opinion. Scope of ivork We have compiled the financial statements in accoi-dance wilh the ICAI Miscellaneous Technical Statement "Chaitered Accountants Reports on the Compilation of Financial Statements of Incorpoi'ated Entilie5" M41 from the accounting records, infoimation and explanations supplied to us by the association. We liave not been instructed to carl'y out an audit of these financial statements. For thi5 reason, we have not verified the accuracy or completeness of the accounting i'ecord5 01. information and explanations you have given to us and we do not, Ihei'efoi'¢, express any opinion on tl)e financial statements. V- L Chartered Accountants Dated: -T_ McFarlaiid Arnold & Co Chartered Accountants 8 Main Street Newtoivnstewart Co Tyrone Page 4
Friends of Arvalee School & Resource Centre Statement of financial activities for the year ended 31 August 2023 Unrestricted funds Re51ricted funds Total Incoming resources Donations Grants 2,400 2,400 6,443 6,443 Total incoming resources 2,400 6,443 8,843 Resources expended Resources for Arvalee School Interest and chai'ges 220 63 220 63 Total resoui'ces exp¢nded (283) (283) Net incoming resource5 before transfers 2,117 6,443 8,560 Transfers between fijnds 284 (284) Net movement in funds 2,401 6,159 8,560 Total funds brought forward 6,511 10,486 16,997 Total funds carried forward 8.912 16,645 25,557 The note5 on pages 7 to 10 form an integral part of these financial stalements Page 5
Friends of Arvalee School & Resource Centre Balance sheet as at 31 August 2023 Note5 Current assets Cash at bank and in hand 25,557 25,557 Net current assetsl(liabililies) 25,557 Net assetsl(liabilities) 25,557 Funds Uni'esti'icted funds Restricted funds 8,912 16,645 25,557 In approving ihese financial statements as trustees of the association we hereby confirm that w¢ acknowledge our responsibilities for.. (l ) ensuring that the as50cialion keeps accurate accounting records (2) pi-eparing financial statements which give a true and fair view of the state of affaii's of the association as at ihe end of tlie financial year and of its surplus oi- deficit for the year then ended. These financial statemenls are pi-epared in accordance with the Statement of Recommended Practice: Accounting and Reporling by Charities (FRS 102 'TI)e Financial Reporliiig Standard applicable in th¢ UK and Republic of Ireland,). The financial slalements were approved by the Board on ac4 I and signed on its bchalf by Signatui'e.. Signature.. Name (in block capilals): fvj Trustee Name (in bloc capitals).. Trustee The noles on pages 7 to l O form an integral part of these fiiian¢ial statements Page 6
Friends of Arvalee School & Resource Centre (Company limited by guarantee) Notes to the financial statements for the year ended 31 August 2023 General information The association is a I'egistered chai'ity Wlth the Chai'ity Commission for Northern Ireland since 4 July 2014 under registration nuinber NIC100362. The address of the registei'ed office is Sti'ule Campus, Goitin Road, Omagh, Co Tyrone. Statement of Compliance These financial statements have been prepared in compliance with Accounting and Reporting by Charili¢s'. Statement of Recommended Pi'actice (FRS 102, 'The Financial Repoiting Standard applicable in the UK and the Republic of li-eland,). Accounting policies Basis of preparation The fiiiancial statements are prepared undei. the historical cost convention and in accordance with Accounting and R¢porting by Charities: Statement of Recommended Pi'actice (FRS 102, 'The Financial Repoiting Standard applicable li) the UK and the Republic of Ireland,) The charity has taken advantage of the exemplioii in FRS 102 Section IA from the requirement to produce a cashflow statement because it is a small charity. The presentation currency of these financial statements is sterling. 3.2. Incoming resource5 Income from donations and grants, including capital grants, is iiicluded in incoming resources when these are received. The value of services provided by volunteei's has not been included. Interest receivable Interest is included when it 15 received. 3.4. Resources expended Expenditure is recognised when it is paid. Expenditure includes VAT which the association is ineligible to recover, and is reported as pait of the expenditui'e to which il I'elates. Charilable expenditui'e comprises ihose costs incurred by the association in the d¢livery of its activities and services foi. its beneficiai'ies. It includes both costs tl)at can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 3.5. Fun(1 accounting Uni'eslricted fijnds relate to general funds which al'e available for use at the disci'etion of the ti'ustees in fiiitlieyance of the general objectives of tl)e charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific r¢strictions imposed by donors oi. which have beei) raised by the chai-ity for paiticulai. purposes. The cost of raising and administering such funds al-e chaYg¢d against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial slatements. Page 7
Friends of Arvalee School & Resource Centre (Company limited by guarantee) INotes to the financial statements for the year ended 31 August 2023 3.6. Taxation As a cliarity, Friends of Arvalee School & Resource Centre is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these al'e applied to its charitable objects. No lax charges have ihei'efore arisen for the Company for the year ended 31 August 2023. Impairment A i'eview foi. indicatoi's of impairment is can-ied out at each reporting date, with the recoverable ainount being estimated where 5ucli indicators exist. Whei'e the carrying value exceeds the recoverable amounl, the asset is impaii'ed accoi'dingly. Prior impairments al'e also I'eviewed foi. possible reversal at each reporting dale. When it 15 not possible to estimate ihe recoverable amount of an individual asset, an estimate is made of the recovei-able amount of the cash-generaling iiiiil to which the asset belongs. The cash-generating unit is ihe smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of Ihe cash inflows froin other assels or groups of assets. Financial instruments A financial asset or a financial liability is I'ecognised only when the association becomes a paity to the conti'actual pi'ovisions of the inslruinent. Basic financial instruments are initially recognised at ihe transaction pi'ice, unless the an'angement constitutes a financing transaction, whei'e il is recognised at the present value of tlie future payments discounted at a markel rate of interest for a similar debt instrument. Debt iiisti'uments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost al'e reviewed for objective evidence of impairment al the ei)d of eacli I'epoiting date. If thei-e is objective evidence of impairment, an impairment loss is recognised in profit oi. loss immediately. Foi. all equity insti-uments regai'dless of significance, and other financial assets that are individually signifi¢anl, these are assessed individually for impairment. Othei- financial assets or eithei. assessed individually or grouped on the basis of similar credit i'isk characteristics. Any revei'sals of impairment al'e recognised in profit oi. loss iminediately, to the extent that the reversal does iiot result in a carrying amouiit of the financial asset tl)at exceeds what the carrying amount would have been had the impairineiit iiol previously been i-ecognised. Page 8
Friends of Arvalee School & Resource Centre (Company limited by guarantee) Notes to the financial statements for the year ended 31 August 2023 Incoming resources Unrestrieted Restrieted funds funds Total Donations Gi'ants 2,400 2,400 6,443 6,443 2,400 6,443 8,843 4. 1 Grant income received is as follows:. Unrestricted Restrieted funds funds Total NFU Mutual 6,443 6,443 6,443 6,443 Trustees, emoluments There wei'e no employees during the yeai. apart fron) lh¢ Trustee5. The trustee5 neither received nor waived any emoluments during the yeai.. Unrestricted funds I September 2022 Incoming Outgoing Transfers 31 August 2023 General fund 6,512 2,400 (284) 284 8,912 6,512 2,400 (284) 284 8,912 Purposes of unrestricted funds Genei'al funds are funds which are available for use at the discretion of the Iruslees in furtherance of the gJeneral objectives of the charily and which have not been designaled for othei. puiposes. Page 9
Friends of Arvalee School & Resouree Centre (Company limited by guarantee) Notes to the financial statements for the year ended 31 August 2023 Restricted funds I September 2022 Incoming Transfers 31 August 2023 Covid fund Inspiration fiind NFU Mutual grant 896 9,590 (284) 612 9,590 6,443 6,443 10,486 6,443 (284) 16,645 Pui'poses of restricted funds Restt'icted funds are funds which al'e lo be used in accordance with specific restrictions imposed by donors or which have been raised by the company for paiticulai. purposes. The cost of raising and adininistering such funds are charged against the specific fund. Analysis of net assets behveen funds Unrestrict¢d funds Restricted funds Total funds Fund balances at 31 August 2023 as represented by.. Cun'ent assets 8,912 16,645 25,557 8,912 16,645 25,557 Going concern The considei'ed view of the ti'ustees is that, after makii)g enquiries, they have a reasonable expectation that the association will have adequate I'esources available to finance its obligations for the foreseeable future. The Trustees al'e not aware of any events likely to occui. in the twelve months following the date of approval of the financial statements that Inay have an inipact on tlie association's ability to continue as a going concern. We believe it is therefore appropi-iate for the finai)cial statements to be prepar¢d on the goiiig concern basis. Ti'ansactions with Trustees The Irustees attend meetings and carl'y out the business of the association on a voluntary basis. 10. Chai'ity Commission for Northern Ireland Friends of Ai'valee School is a registered chai'ity with the Chai'ity Commission for Northem Ireland since 4 July 2014. under registi'atioii nun)bei- NIC100362. Page 10