Friends of Arvalee School & Resource Centre Trustees, report and financial statements for the year ended 31 August 2024 Northern Ireland Charity number: NIC100362 McFarland Arnold & Co Chartered Accountants Friends of Arvalee School & Resource Centre Contents for the year ended 31 August 2024 Page Legal and admii)istrative infoi-mation Ti'ustees, I'epoi Accounlants, report to the trustees Statement of financial activities Balance sheet Notes to tlie fii)ancial slatemenls 7-10 Friends of Arvalee School & Resource Centre Legal and administrative information for the year ended 31 August 2024 Legal status This associalion is a I'egistered charily With the Charity Coinmission for Noithern Ireland since 4 July 2014 under registi-atioi) number NIC100362. Trustees Annniarie Bradley Karen Coi)nolly Donna Dillon Kathleen Gallagh¢r Kellie Gavin Eimear Keys Jason Sawyeis Karen Sharkey CCNI Charity number NIC100362 Registered office Stru1¢ Campus Gortiii Road Oiiiagh Co Tyrone BT79 7DH Accountant5 McFarland Arnold & Co 8 Main Sti'eet Newtownstewait Co Tyi'one Busiiiess address Strule Campus Goitin Road Omagh Co Tyroiie BT79 7DH Page I Friends of Arvalee School & Resource Centre Trustees, report for the year ended 31 August 2024 The ti'ustees presenl their report and the financial statements for the year ended 31 August 2024. Trustees Coinmittee Inembei-s of th¢ association, known as trustees for tlie purpose of chai'ity law, who sei'ved during the year and up to tl)e date of this i-¢port ar¢ set out on page l of Ihe financial stateinenls. Charitable objects Ai'valee School is foi. childi'en and young people aged between three ai)d nii)eteen years old who have sevei-e to modei'ate leai'iiing difficulties. Music ai)d sensoiy experiences give the pupils oppoitunities to enhance their confid¢nce, ominunicatioii and enjoyineiit of life. Expei'iences in this ai-ea cannot always be provided as pait of the cuii'iculum and the school believes that the enhanced alternative Cu￿1¢ll]uM Inakes a huge diffei-ence lo the lives of the children. As a I'esult Fi'iends of Arvalee School & Resoui'ce Centre was established. The association lias an active Pai'ent, Teachei. and Friends associatioi) which is able to fundraise and pi'ovide eventslactivilies for pupils of Arvalee School and theii. families, provide fuiids foi. additional resources foi. Ai'valee school and build links with the local community. The association will also support the educational pi'ogress and attainl￿ent of pupils in Ai'valee school. Fi'iends of Arvalee School & Resoui-ce Centi'e is a registei'ed charity with the Chai'ity Commission for Noitl)ei'n Ireland since 4 July 2014, under registration numbei. NIC100362. Oi'ganisational structure The trustees meet regularly, adininister the company and make all policy decisions. Revieiv of activilies and acliievemeiits The i'esult5 reflect the activities carried on within the association during the year. Going concerii The considered view of the ti'ustees is that, after making enquiries, they have a reasonable expectation that Ihe association will have adequate resources available to finance its obligations for the foreseeable future. The Trustees are not aware of any events likely to occui. in the twelve months followiiig the date of approval of the financial slatem¢nts that Inay have an impact 011 the association's ability to continue as a going concern. W¢ believe it is therefoi'e appi-opi-iate for the fii)ancial stateinents lo be prepared on the going concern basis. Reserves The results for the year are set oul on page 5 of the financial statements. The purpose of the funds are outlined in the notes to the fiiiancial stateiments. Statement of ti'ustees, responsibilities The Trustees al'e I'esponsible foi. preparing the Trustees, Repoi't and the financial statements in accordance with applicable law and i-egulations. Charity law I'equires the Iruslees to prepai'e financial slatemei)ts foi. each financial year which give a ti'ue and fair view of the State of affairs of the cliarity at the year end and of it5 incoming I'esources and resoui'ce5 expended dui'ing that year. In prepai'ii)g those financial statements, the ti'uslees are I'equii'ed lo.. select suitable accounting policies and then apply them consistently. make judgeinents and estimates that al'e I'easonable and prudent. state wheihei. applicable accounting standards and statements of i-ecominended practice have been followed subject to any departures disclosed and explained in the financial statements. aiid pi'epare tlie financial statements on the going concei'ii basis unless it is inappropriate to presume that the chai'ily will continue in busines5. Page 2 Friends of Arvalee School & Resource Centre Trustees, report for the year ended 31 August 2024 The tl-U5tees are responsible for keeping pi'oper accounting records which disclose with reasonable accuracy at any tiine the finaiicial positioii of the charity and enable them to ensure that the financial statein¢nts comply with the Charities Act 1993. They are also I'esponsibl¢ foi. safeguai'ding the assets of the chai'ity and hence for takiiig reasonable steps foi. th¢ prevention and detection of fraud and othei. in'egularilie5. Accountants The trustees recommend that McFarland Arnold & Co I'emain in office until fuither notice. Special provisions relating to small companies This i'epoi1 has been prepai'ed in accordance with the Statemeiit of Recommended Practic¢-. Accounting and Reporting by Charities (FRS 102). This I'eport was approved by the trustees on 2 31 eceiF)Def 102Lk and signed on its behalf by Signature: Name {in bloclc 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 2024 We have compiled the financial slatements of Friends of Arvalee School & R¢soui'ce Centre foi. the year ended 31 August 2024 as set out on pages 5 to l O, which coinprise the statement of financial activities, tlie balaiice sheet and the related notes froin the accounting I'ecords and information and explanatioiis you have given to us. This I'epoit is made to the association's boai'd of trustees, as a body, in accoi'dance with the terms of oui. engagement. Oui. woi'k has been undei'taken so tl)al we might coinpile the fiiiancial slatements that we have been engaged to compile, report to tlie association's board of trustees that we have done so, and state those mattel's that we have agreed to State to them in this repoi'l and for no othei. pei'son. To the fullest extent pei'mitted by law, we do not accept oi. assume r¢spoi)sibility to anyone othei. than the association and the association's boai'd of trustees as a body, for our work or for thi5 repoit. Respective responsibilities of the trustees and accountants As des¢i'ibed in the statement of ti'uslees, I'esponsibilities the association's trustee5 al'e responsible for ensiiring that the association Inainlains propel. books of accoiint and for pi'eparing financial statements which give a ti'ue and fail. view. It is oui. I'esponsibility to compile the financial slalements of Fi'iends of Arvalee School & Resource Centre fi'om Ihe accounting resords, infonnation and explanations supplied to us by the association. Basis of opinion Our work was conducled in accordance with the StateinenÉ of Standards foi. Reporting Accountants, and so our procedui'es consisted of compai'ing the financial statenieiits with the accounting i'ecoi'ds kept by the association aiid making such limited enquiries of the ti'ustees of the association as we considered necessary for the purposes of this i-eport. These pi'ocedures provide only the assui'ance expressed in oui. opinion. Scope of work We have coimpiled the financial statements in accordance with the ICAI Miscellaneous Techiiical Slalem¢nt 'Chailei'ed Accountants R¢poits on the Compilation of Fii)ancial Statements of Incoi'porated Entities" M41 from the accounting i'¢cords, infonnation aiid explanations supplied to us by the association. We hav¢ not been inslructed to carl'y out an audit of these financial statements. For this I'eason, we have not vei'ified the accuracy oi- coinpleteness of the accounling records or infoi-mation and explanations you have given to us and we do i)ot, thei'efoi'e, express any opii)ioii oli the financial statements. F-L. tka- Chartered Accountants Dated: M¢Farland Arnold & Co Chartei'ed Accountants 8 Main Street Neivtoivnslewart Co Tyrone Page 4 Friends of Arvalee School & Resource Centre Statement of financial activities for the year ended 31 August 2024 Unrestricted funds Restrieted funds 2024 Total 2023 Total Incoming resources Doi)ations Gi'aiits Fundi'aising events 5,771 5,771 2,400 6,443 61,243 61,243 Total incoming resources 67,014 67,014 8,843 Resources expended Fundraising expenses Activities for pupils of Arvalee School Accoiintancy fees Intei'esl and chai-ges 823 11,245 600 100 823 11,245 600 100 220 63 Tolal I'esources expended (12,768) {12,768) (283) Net incoming I'esoui'ces befoi'e ti'ansfers 54,246 54,246 8,560 Transfers between funds 7,055 (7,055) Net movement in funds 61,301 (7,055) 54,246 8.560 Total funds brought forward 8,912 16,645 25,557 16,997 Total fiinds carried forward 70,213 9,590 79,803 25,557 The notes on pages 7 to 10 (orm an integral part of these finaiicial statements Page 5 Friends of Arvalee School & Resource Centre Balance sheet as at 31 August 2024 2024 2023 Notes Current assets Casli at bank and in hand 79,803 25,557 79,803 25,557 Net current assets 79,803 25,557 Net assets 79,803 25,557 Funds Uni'esti'icted funds Restricted funds 70,213 9,590 8,912 16,645 79,803 25,557 In appi'oving these financial statements as truste¢s of the association we hereby confirm that w¢ acknowledge our responsibilities foi.: ( l ) ensuriiig that the association keeps accurate accounting records (2) pi'¢pai'iiig fiiiancial statements which give a Irue and fail. view of the state of affairs of the association as at the end of the finaiicial year aiid of its surplus oi- deficit for the year then ended. Tl)ese finai)cial statements are pi'epared in accoi'dance witli the Stateinent of Recommended P17Ctice: Accounting and Repoiting by Charities (FRS 102 'Tli¢ Financial Reporting Standard applicable in ihe UK and Republic of Ii'eland,). The financial statemenls were appi'oved by the Boai'd on a l)eLein ber IOIy- and signed on its behalf by Signature: Signature.. Naine (in block capitals): IILLLe Trustee vTh) Naine (in block capitals).. OLJOf2 kE Trustee The notes on pages 7 to 10 form an integral part of these financial statements Page 6 Friends of Arvalee Sehool & Resource Centre (Company limited by guarantee) Notes to the financial statements for the year ended 31 August 2024 General information Tlie association is a regi5tei.ed charity with the Chai'ity Commission foi. Northern Ireland since 4 July 2014 under regisli-ation number NIC100362. The address of the registei'ed office is Sti'ule Campus, Goi'lin Road, Omagh, Co Tyroiie. Statement of compliance These financial statenients have been prepai'ed in compliaiice with Accounting and Repoiting by Charities.. Stateinent of Recominended Practice {FRS 102, 'The Financial R¢porting Standard applicable in the UK and tl)e Republic of Ii'eland,). Accounting polieies Basis of preparation The financial statements al'e pi'epai'ed undei. tl)e Iiistorical cost coi)vention and in accordance with Accounting and Reporting by Charities.. Statement of Recommended Praclice {FRS 102, 'The Financial Repoiting Slandard applicable in tlie UK and the Republic of li'¢land') The charity has taken advantage of the exempiion in FRS 102 Section IA froin the I'equireinent to produce a cashflow statement because it is a small charity. The pi'esentation currency of these financial statements is sterling. 3.2. Incoming resources Incoine from donations and gran15, including capital grants, is included in incoiiiing resources whei) these are received. The value of s¢ivices pi'ovided by volunteei's has not been included. 3.3. Interest receivable Interest is included when it is I'eceived. 3.4. Resources expended Expenditure is recognised when it is paid. Expenditure includes VAT which Ihe association is ineligible to i'ecover, and is repoited as pait of the expenditure to which il relates. Cl)arilable expei)diture compi'i5es those Costs incurred by the association in the delivery of its activities and services for ils beneficiaries. 11 includes both cosls that can be allocated dii-ectly lo such activities and those cos15 of ali indirect nature necessary to support ihem. 3.5. Fund accounting Unrestricted funds I'elale to genei'al funds which al'e available for use at the discretion of the trustees in furtherance of the genei'al objectives of the cliarity and which have not been designated for other purposes. Resti'icted funds are funds which are to be used in accordance with specific restrictions imposed by donors or wliich have beei) i'aised by tlie chai'ity for particulai. purposes. The cost of raising and adiniiiistei'ing such funds ar¢ chai'ged agaiiist the specific fund. The aiin and use of each resti'icted fund is s¢1 out in the notes to tl)e fiT]ancial statements. Page 7 Friends of Arvalee School & Resource Centre (Company limited by guarantee) Notes to the financial statements for the year ended 31 August 2024 Taxation As a chai'ity, Friends of Arvalee School & Resoiirce Cenlre 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 tlie extent that thes¢ al'e applied to its rliarilable objects. No lax chai'g¢s havc thei'efor¢ arisen for the company for tl)e year ended 31 August 2024. Impairment A review for indicators of iinpaiiinent is carried out at each i'epoiting date, with the i'ecov¢rable amount beiiig esliinated whei'e such indicators exist. Whei'e tlie carrying value exceeds the recovei'able amount, the asset is impaired accoi'dingly. Prior impairments al'e also reviewed for possible reversal at each i'eporting date. When it is not possible to estimate tlie recoverable amount of ali individual asset, an estimate is made of the i'ecoverable amount of tl)e cash-generating unit to which the asset belongs. The cash-generating uiiit is the smallest identifiable group of assets that includes the asset and gen¢i'at¢s cash inflows that are lai'gely independent of the cash inflows from other assets or groups of assets. Financial instruments A financial asset or a financial liability is recognised only when tlie association becomes a pai1y lo the conti'actual provisions of the instrument. Basic financial instruments are initially I'ecognised at the ti'ansaclion pi'ice, unless the arrangement constitutes a financing ti'ansaction, whei'e it is i'ecognised at the present value of th¢ future payments discounted at a mai'ket rale of intei'est for a siinilai. debt in5ti'ument. Debt instruinents are subsequently measured at amortised cost. Financial assets that are measui'ed at cost or amortis¢d cost al-e reviewed for objective evidence of irnpairment at the end of each I'eporting date. If there is objective ¢vidence of impairment, an impainnent loss is i'ecognised in pi'ofit or loss iinmediately. For all equily instruments regardl¢ss of significance, and othei. financial assets thal al-e individually significant, these are assessed individually foi. impaii'inent. oiher financial assets or either assessed individually oi. gi'ouped on the basis of similar credit I'isk chayactei'islics. Any I'eversals of impaii'ineiit are I'¢cognised in pi'ofit or loss immediately, lo the extent that the revei'sal does iiot resuli in a cai-iying ainount of the financial asset that exceeds what the carrying amount would have been had the iinpairment not previously been I'ecognised. Pag¢ 8 Friends of Arvalee School & Resource Centre (Company limited by guarantee) INotes to the financial statements for the year ended 31 August 2024 Incoming resources Unrestricted Restricted funds funds 2024 Total 2023 Total Donations Grants Fundi'aising events 5,771 5,771 2,400 6,443 61,243 61,243 67,014 67,014 8,843 4. 1 Grant iiicome I'eceived is as follows:_ Unrestricted Restricted funds funds 2024 Total 2023 Total NFU Mutual 6,443 6,443 Trustees, emoluments There were no einployees during the year aparl fi'om the Trustees. The trustees neither received nor waived any emoluments dui'iiig the year. Unrestricted funds I September 2023 Incoming Outgoing Transfers 31 August 2024 General fund 8,912 67,014 (12,768) 7,055 70,213 8,912 67,014 {12,768) 7,055 70,213 Purposes of unrestricted funds Genei'al funds al'e funds wliicli are available for use at the disci'etion of the Irustees in furtherance of the geiiei'al objectives of the charity and which have not been d¢sigiiated for other purposes. Page 9 Friends of Arvalee School & Resource Centre (Company limited by guarantee) Notes to the financial statements for the year ended 31 August 2024 Resti'icted funds September 2023 Transfers 31 August 2024 Covid fund Inspiration fund NFU Mutual grant 612 9.590 6,443 (612) 9,590 (6,443) 16,645 (7,055) 9,590 Purposes of restricted funds Restricted funds are funds which are to be used in accordance wilh specific restriclioiis iinposed by donors or which have been raised by the company for paiticular purposes. The cost of I'aising and administering such funds are charged against the specific fund. Analysis of net assets between funds Unrestricted Restricted funds funds Total funds Fund balances at 31 August 2024 as I'epi'esented by: Current assets 70,213 9,590 79,803 70,213 9,590 79,803 Going concern The considered view of the trustees is that, after making enquiries, they have a reasonable expeclation that the association will have adequate resoui'ce5 available to finance its obligations for ihe for¢se¢able future. The Ti'ustees are not aware of any events likely to occur in the twelve months following the date of approval of the financial statements that may have an impact on the association's ability to continue as a goiE]g concei'n. We believe it is therefore appropriate for the financial statemeiils lo be prepared on the going conceri) basis. Transa¢tions with Trustees The truslees attend meetings and carry oiit the business of the association on a voluntary ba51S. 10. Chai'ity Commission for Noi*hern Ireland Friends of Arvalee School is a i-egislered chai'ity with the Chai'ily Commission for Northern Ireland since 4 July 2014, undei. i-egistration nuinbei. NIC100362. Page 10