Charlty Number: 100485 Atlantic Challenge Northern Ireland Report and Financial Ststements for the year ended 31 March 2017 Atlantic Challenge Northern Ireland CONTENTS Page Trustees, and Other Infomation Trustees, Report Statement of Trustees, Responsibilities Independent Examiner's Report Accounting Policies Statement of Financial Acts'vities Balance Sheet 10 Notes to the Financial Statements Atlantic Challenge Northern Ireland TRUSTEES, AND OTHER INFORMATION Trustees Chailie McAllister Marian McAllister Nigel Moflow J8ne Morrow S1118rt Abraham Kathy Patton Carol Patton Michael Patton Michael Duncan Charlty Numb•r in Northem Ireland 100485 Indep8nd8nt Examiner Nicho115 and Company Charteied Accountants The Studios 89 Holywood Road Belfast Co. Antrim BT4 3BD Northem Ireland B•nkers First Trust Bank Ballymena 8T43 6AF Atlantic Challenge Northern Ireland TRUSTEES, REPORT for the year ended 31 March 2017 The trustees presenl their Trustees, Report prepared in accordance wilh Charities SORP (effective January 20151 and the unaudited fina￿1￿1 statements for the year ended 31 March 2017 also prepared in accordance wrth the aforementioned Statetllent of Re¢ornmended Practice. Prinelpal Activities The prinapal activilies of the charity are as follows.. IA) Provide opportunities foi young people to learn lo sail and TOW traditional boats, seamanship. and all asstxiated matters relab'ng lo the sea. {81 Engender cross community relations within the l(Yal area. (Cl Encourage the personBI development of young people through Ihe mediurn of the sea. IDI Support and encourage young people lo apply for gnd compete in the biennial International Allanlic Challenge Contests of Searnanship, other associated competition5 and events. Trustees The Iruslees who served during the year are as follows.. Charlie McAllisler M8ri8n McAllister Nigel Morrow Jané Morrow Stuart Abraham K8lhy Patton Carol Patttsn Michael Patton Michael DLJncan In accordance wlh the Constitution, the trusteos r6tire by rotation and, bwng eligible. offei themselves for rè-el8¢bon. Atlantic Challenge Northern Ireland TRUSTEES, REPORT for the year ended 31 Maich 2017 A¢hievernents and Performance The charity competed in the bienni81 Inlemalional Alantic Challenge Contest ol Seamanship. A L3rge crew and support volunteers tr8v8lled lo Roskilde, Denmark in the summer of 2018, and enjoyed a SUCLesslul and well-run evènl. The Trustees continued their strategy of investing in the Charity's gig, and with the welcomed support of the Enkalon Foundation(£2.￿o), a new sel of oars were purchased and used in Denmark. A number of fundraising events {quiz, BBQI were also held during the year under review. The Trustees also commenced early stage preparations for hosting the biennial International Atlantic Challenge Conlo51 of Seamanship in Antrim 2018. Flnanclal R•view The Ch8rily raised £10.304 during thè yéar, an in￿aSe on last year1£6,109}. Whilst event costs were also up significanlly1£11,664 compared to £3,172 last yearl, this was due to.. (A) Inlornalional cornpelition year IDenmark} and IBI Investment in oars las noted Bbove). A small deficit of £1,360 was incurred this year. bul the TtU81ees remain confident that the Charity can continue lo SU￿e881Ul1Y work towards meeting Its aims and objectives. Structur•, Gov¢rnance and Management Allanlic Challenge Northem Ireland is a registered charity with The Charity Commis6ion for Northem Ireland, number 100485 The prinopol addre88 of the charity is Studio B. 89 Holywood Road. Belf8sI, Co. Anlrim. Northem Irèland, BT4 38D. The charity's goveming document is Ets Consts'tution. which came into eff8Ct on 1st April 2014. Thè charily is managed by its Trustees, who are elocted on an annual basi8. Tru¥lees meet regularfy throughout the year. By order of the Board Charlie McAllister Trustee Nigel orr Trustee Dats.. Atlantic Challenge Northern Ireland STATEMENT OF TRUSTEES, RESPONSIBILITIES for the year ended 31 March 2017 The Iru51ees are responsible for preparing th6 financial $181emenls in accordance with 8pplicable18w and regulations. Charity law requires the trustees to prèparè financi81 $18tem8nts for eac* finanu81 year. Under that law the trustees have eleded lo prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable 18wI. Under charity law the trustees must not approve the financial statements unless they are satisfred that Ihoy give 8 true 8nd fgir view of the slalo of aff8ir8 of the charity and of the financial activities of the charity for that pèriod. In prèp8ring thèse financial statements. the trustees are required to follow best practice and". select surtable accounting policies and apply them consistently". make ludgemenls and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material departures disdosed and explained in the financial statements., stat6 whether the Charilies SORP (effective January 2015} has been followèd., prepare the financi81 sl8temenls on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees confirm that they have cornplied with the above requ1￿mentS In preparing the financlal statements. The trustees are responsible for keeping proper accounting records which dis¢loso with reasonable 8ccur8cy 818ny time the finan¢ial position of the charity and to enable them to ensure that the finanaal statements Comp￿ with applicable law. They are also responsible for safeguarding the assets ol the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of tho Board Charlie McAllister Trust•• Nigel orro Trust•& 221.11.1 / 21.l.gl Ig Date: .. Atlantic Challenge Northern Ireland INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF ATLANTIC CHALLENGE NORTHERN IRELAND I have examinèd the financAal slatemenis of the Trust loi the year ended 31 March 2017. which comprise the Statement of Financial Activities, the Balance Sheet, the Accounting Policies and the rela(ed notes. These f4nanci81 statements have been prepared under the accounting poli￿e5 8et out therein. This report Is made solely to the charily trustees, as 8 body, in accordance with the Charities Act INorthem Ireland) 2008. Our work has been undertaken so thal we might compile the financial statements Ihat we have been engaged to compile, rèwrt lo the charitys Board ol Trustees that we have done so, and slate those matters that we have agreed to stat@ to them in this report and for no other PLJrpose. To the fullest exlent peTmitled by law, we do not accept or assume responsibility to anyone other than the charity 8nd the charity's Board of Trustees. as a body, for our work, or for this reptsrt. Re$pe¢tlve responslblllti•8 of trustees and examiner As explained more fully in the Statement of Trustees, Responsibilities. the directors, are also the trustees ol the charity, are responsible for the preparation of the Trustees, report 8r*d the financial statemen15 In 8ccordance with applicable law and Acco)unting Standards (UK and Irelandl. The charity trustees consider an audit is not ￿qUired for this year under thè Charities Ad (Northern l¥elandl 2008 bul Ihat an independenl examination is required under that Act. 11 is my responsiblltty lo.. • examine the finanual slalements under the Charities Aet (Northern Ireland) 2008 and the Regulations Ihereunder., follow the procedures laid down by the regulatory authorities,. 8nd stale the facts if it has come lo my attention in the course ol my examination work that any.. lil rnaterial exp6nditU￿ or action appears not to be in acctsrdance with the charity's Irusls,. {iil information or explanation l am entitled to under the Regulations has not been afforded lo me., liiil informatson containad in tho fin8nci81 statements is materially inconsistenl with the Trustees, report for the year. Basi$ of independent examlnals rèport My examination work wa$ undertaken in 8ccordarn￿ with the general directions given by thè règulatory authorities. Such an exarnination includes a review of the accounting records kept by the chaiity and a comp81ison of the financial statements presentèd with those records. It also includes considerati(>n of any unusual items or disclosures in the financial siatements and seeking explanat￿1$ frorn yourselves as the charity trustees conceming any such mattèrs. The procedures undertaken do not provide all the evidence that would be required in an audit and nsequ¢nlly I do not express an audit opinitsn on the Mew given by the financ4al statements. Independent •x•minerf¥ ststement In connection with my examination work, no m8tter has come to my attention,. which gives me reasonable cause lo believe that in any material respect the requirements to keep proper 8ccounling records and to prepare accounts which acc£srd with the accounting records and are in accordance with the methods and principles set out in the Charities SORP have not been met., or to which, In my opinion, attention should be drawn in order lo enab￿ a propef understanding of the finanaal statements to be reached. Richard Nlcholls NICHOLLS AND COMPANY Chartered Accountants The Studios 89 Holywood Rtsad Belfast Co. Anlrirn BT4 3BD Northern Ireland Dat•- L¥ Atlantic Challenge Northern Ireland ACCOUNTING POLICIES for the year ended 31 March 2017 Basls of preparatlon The finarrial statements have been piepared under Ihe hislorical cost convention and In accordance with Pari 8 of the Charits'es Act (Northern Ireland) 2008. They also comply with the Statement of Rewmmended Practice ISORP 2C()5. as upclated In 20081 and with ttte financi81 ¥eporting slandards. The folk)wing accouriting policies have been applied consistently in dealing wth items which 8re considered material in felalion lo Ihe charity's financial slalemenls. Incomlng Resources Voluntary incom6 or eapilal is included in the Statement of Financial Activities when the ch8rily is legally entitled lo it. its financial value can be quantified with reasonabl@ certainty and there is reasonable c£rt8inly of its ullirnate receipt. Enlillement lo legacies is considered established when the ch8rily has been notified of a distribution to be made by the executors. Income received in advance of due pèrformance under a contract is accounted foi as deferred income until eamed. Grants for aGtivlLies are recognised as ifjcorlle when the related conditions lor legal entitlement have been met. Herita9• Assets The charity owns 2 boats Igigsl. called'cwech John Kerr, and'Harrronie'. Both are based upon the design of the historically significant restored Banlry Bay boat, which dates back to the late 18th century. The Trustees ¢onsider both boats to meet the definition of heritage assets, as defined by the Chafits'8s SORP IFRS1021. The charity's heritage as5e15 are not included in the statement of assets and liabilities as information tsn their cost or valuation is not available, and such information canrK)I be (l)lained at a cost commensurale with the benefit lo the useis of the accounts and lo the charity. Atlantic Challenge Northern Ireland STATEMENT OF FINANCIAL ACTIVITIES for the year ellded 31 March 2017 Unrestricted Funds 2017 Total 2017 Notes Incoming Resources Generated funds.. Voluntary Incomè Donations and Fundraising Othgr Incoming resourc&s 8,304 2.0 8.304 2.000 Total incoming resourcès 10,304 10,304 Resources Expended Rè#our¢es Expended on Charftable Activities Professlonal fees and subscriptions Repairs and Maintefiance Insuran Event costs Clothing and crew expenses Bank charges and interest 756 3,160 258 6.699 727 64 756 3.160 258 8,699 727 64 11,664 11,664 Totsl ReBources Expended 11,664 11,664 Gross transfers between funds Net movement in fund$ for the year 11,3601 11,3601 R•eonciliatlon of funds Balances brought fomard al 1 April 2016 3,877 3,877 Bal¥n¢è¥ carrled forward at 31 March 2017 2,517 2,517 Th8 notes on pa9e 11 forrn part of the financial statements Atlantic Challenge Northern Ireland BALANCE SHEET as 8t 31 March 2017 2017 Notas Current Assets Cash 8t bank and in hand 2,517 Net Cuffent Ass&t¥llLiabi15tlesl 2,517 Total Assets l•$¥ Current Llablllti•s 2,517 Funds Gener81 fund {unrestrictedl 2,517 Total funds 2.517 Charlle McAlllgter Trustee Nig Trust8• The notes on page 11 forrn part of the financial statements 10 Atlantic Challenge Northern Ireland NOTES TO THE FINANCIAL STATEMENTS lor the year ended 31 March 2017 POST.BALANCE SHEET EVENTS There have been no significanl events affecting the Charity since the year-ènd. 11