Charity Numr.. 100485 Atlantic Challenge Northern Ireland Report and Financial Statements for the year ended 31 March 2018
Atlantlc Challenge Northern Ireland CONTENTS Page Trustees, ané Other Information Trustees, Report Slalemenl of Trustees. Responsibilities Independent Examiner's Report Accounting Policies Slalement of Financial Activities Balance Sheet 10 Notes lo the Financial Statements
Atlantic Challenge Northem Ireland TRUSTEES, AND OTHER INFORMATION Trusteos Chartie McAllisl&r Marian McAllisler Nigel Morrow Jane Morrow Stuart Abraham K8lhy Patton Carol Patton Michael Patton Michael Duncan Charlty Numbor in Northern Ireland 100485 PrSnclpal Addr¥s$ Th8 Studios 89 Holywood Road Bglfasl Co. Antrim BT4 3BD Northern Ireland Charted Accountants The Studios 89 Holywood Road Btslfasl Co. Antfim BT4 3BD Northem Ireland Bankors First Trust Bank Ballymena BT43 6AF
Atlantic Challenge Northern Ireland TRUSTEES. REPORT for the year ended 31 March 2018 The trustees present their Trustèos, R8POrt prepared in accordance wlth Charities SORP1offeclive January 20151 and the unaudited financial statements lor the year ènded 31 March 2018 also prepared in accordance with the aforemantioned Statement of RècotNrrEgnded Practice. Prlnclpal Actlvities The principal activities ol the ¢harity are as follows.. {Al Provide opportunities for young people to learn lo sail and row traditional boats, searnanship. and all ass¢xiated matters r01alitvJ to the sea. IBI Engendèr cross comrnunity relallons wlhin the local area. (Cl Encourag8 the personal dev8lopm8nt of young people through the medium of the $e8. IDI Supwjrt and encourage young people lo apply for and compete in the biennial Inlemalional AVanli¢ Challenge Contests of Seamanship, other associated competitions and ev8nts. Trustees The trustees who s8rved during the year ar& as fo11ows'. Charfie McAllister Marian McAllister Nigel Morrow Jane Morrow Stuart Abraham Kathy Patton Carol Patton Micha81 Patton Michael Duncan In accordanGe with the Constltubon, Ihg trustees retire by rotation and, being eligible, offer themselves foT re-election.
Atlantic Challenge Northern Ireland TRUSTEES, REPORT for the year ended 31 Maioh 2018 Achl8v•m•nts and Performance A number of fundraising events (quiz, BBQ) were also held dL4rfng th8 year under review, and significant donatlOll8 from Crew and their supporters continued this year. The Trustees also contined with prepardtions for hts8ling the biennial International Atlantic Challenge Conlesl of Seamanship in Anlrim July 2018. Flnanclal R•vl¥w The Charity rais8d £15,393 during the year, an Increase on last year1£10.3041. This was du8 lo the start of funds being received from competing counlries1£7,676 as at 31 March 20181 in respect of ihe charity hosting the bignnial Intemation Atlanllc Ch8llenge Contest of S6am8n8hip in Antrim July 2018. The Trustees eonsider these funds to b& unr88tricted, and further Infomialion is provided al Note 2 to the Accounts in rtrspecl of this matter. Event costs were down significanlly1£1,378 compared 19 £11.664 last yearl, this was due lo.. IA) International competition ye8r (Denmarkl 2017 and IBI Investment in oars 2017. The Trustees remain confident that the Charity can Continue lo successfully work towards meeting its aim8 and oblactivès. Structur•, Governance and Managèment Allantlc Challenge Northem Ireland Is a registered charity with The Charity Commission for Northem Ireland, number 100485. The principal address of tha Charity is Studio B. 89 Holwood Road, Belfasl, Co. Antrim, Northem Ireland. BT4 3BD. The ¢h8rity's goveming document is its Constitution, which came into effect on 1st Aprfl 2014. The charity is managed by its Trustses, who are elected on an annual ba8is. Trustees meet regularfy throughout the year. By ord•r of the Board Charlle McAllist•r Trustee Nlgel Trustee row
Atlantic Challenge Northern Ireland STATEMENT OF TRUSTEES, RESPONSIBILITIES for the year 6nded 31 March 2018 The trustees are responsible lor preparing the financial statemenis In accordance with applicable law and ragulations. Charity law requir88 the trustees to prepare financial statements for each financial year. Under tt)at lÈw the trustees have fylecled to prepare the finanrial statements in accordance with Uniled Kingdom Generally Accepted Accounting PracliGe (United Kingdom Accounting Standards and applicable lawl. Under charity law the trustees must not approve the financial slalerrents unless th8y are 88lisfied that they giv8 a trug and fair view ol Ihe state of affairs of the charity and of the finan¢ial activities ol the charity for that period. In preparing these financial slatemenls, the trustees are required to follow best practice and.. select suitable accounting policies and 8pply them consistently.. make jtJdgements and esb'mat&s that are reasonable and prudent., slate whether applicable accounb'ng standards hav8 been followed, subject lo any material departures dls¢losed and 6xpl8ined in the financial slalements., stsle whether the Ch8rilies SORP leffectlV8 January 20151 has bèen followed.. prepare the financial statements on the going concem basis unless il is inappropriate to pr&sumg that the charity will continue in operation. The trustees confim that they have complied with the above requirements in preparing the financial statements. trustees are responsible for keeping proper accounting records which dis¢1088 with reasonable accuracy at any lime the financial position of the charity and lo enable them lo ensure that the financial statemfynls comply wlh applicable law. They are also responsible for safpguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregulgrilies. On behalf of thg Board Charlle McAlllst•r Tru$loe Nigèl Trust•• ro 15.1.4.li.QL Dat¢: ..
Atlantic Challenge Northern Ireland INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF ATLANTIC CHALLENGE NORTHERN IRELAND I have examined the financial statemenls of the Trust for the year ended 31 March 2018, which comprise th8 Statamenl of Financial Activilies, the Balance Sheet, the Accounting Policies and the related notes. These financial statements have been ppar0d under the acoounb'ng policios sgt out therein. This report is made solely to the Charity trustees, as a t>ody, in 8¢cordance with the Charities Act (Norlhern Ireland) 2008. Our work has been undertaken so Ihal we might compile the finanoal statements Ihal we have been engaged lo complle, report lo the charity's Board of Trustees Ihat we have done so, and slate thosè tnatters that we have agreed lo stale to them in this report and for no (>lher purpose. To the lullesl extent pomitted by law, we do not accept or assume responsibility to anyone ottr than the charity and the charitys 8oard ol Tru5t99s. as a body, for our work, or for this report. Respoctlve responslb115tle8 of trustees and examiner AS explained mor8 fully in the Slalernent ol Trustees, Responsibilities, the directors, who are also th8 trustees ol the charity, are responsibl8 for the preparation of the Trustees. report and the financial statements in accordance with applicable law and Accounting Sl8ndards (UK and Irelandl. The charity trusteés consider an audil is not required lor this year under the Charities Act (Northern Ireland) 2008 but Ihat an independent exatninalion is required under that It 18 my responwbility to.. examine the financial statements under the Charities Act INorthern Irelandl 2008 and the Regulations thereunder., follow th& procedures laid down by the regulatory aulhorilies., and stslts the facts if il has come to my attention in the course of rny examination work that any.. lil matsrial expenditure or action appears not (o be in accordance with the charity's trusts,. lill information or explanatitsn l am entitled to under the Regulations has not been afforded to me". liiil Infomialion contained in the financial statements is rnalerially inconsislenl with the Trustees, report for the year. Ba$1$ of Indepondènt examlnerfs rtrport My examination work was undertaken in accordance wlth th8 general difaclions given by the regulatory authoridas. Such an examination includes a rèview of the a¢¢ounling record$ kept by the charity 8nd a comparison of the financial statemen15 presented with those re¢ord8. 11 also includes considerats.on of 8ny unusual il¢m8 or disclosures in the flnanaal statemènts and seeking explanations from yourselves as the charity trustees concerning any such matters, The procedLtres undertaken do not provide all the evidence at would be required in an audit and conseouenuy I do not expSS an audit opinion on tho view given by Ihts financial statements. Indepond•nl examln•r'$ statement In connection wlh my examination work, no matter has come to my attention.. which giv08 me reasonable cause to believe that in any material respèct the requlrements lo keep Pfoper acGounling records and to ppare accounts which accord with the acctrunting rewrds and are in a¢¢ordance with the methods and prinoiples set out in the Charib'es SORP have not been met,. or to which, in rny opinion, attentron should be drawn in order lo enable a proper understandlng of the financial statèmellts to reached. Nieholls and Company J Chartered Accountants The Studios 89 Holywood Road BF>lfasl Co. Antrim BT4 3BD Northem Ir818nd Date..
Atlantlc Challenge Northern Iland ACCOUNTING POLICIES foi the year ended 31 March 2018 Basls of preparatlon Thtr financial statèments have been prepar8d under the historical cost convention and in accordanee wilh Part 8 of the Chariti88 Act INorth8rn Ireland) 2008. They also comply with the Statement of Recornrngnded Practice ISORP 2005, as updat6d in 20081 and with the financial reports'ng standards. The following accountin9 policies have been applied consistently in dealing with items which are considered material in relation lo the charily's financia5 stalernents. Incoming Re8ourcg$ Voluntary incorne or capit81 is included in the Slalemenl of Financial Acb"vities whell the charity is legally entitled to it, its financial valu8 can be quanthSed th reasonable certainty and there is reasonable certainty of its ultimate receipt. Entrfclemanl lo legacies is considered established when the charity has been notifiod of a distribution to be made by the executors. Income received in advance ol due performance under a contract is accounted for a5 delerr8d income until 6arrF8d. Grants for activities are recognised as income when the related conditions for legal entitlement have been met. Herltag• Assets The charity owns 2 boats IgvJ$l, called 'Cwech John Kerf and 'Hamionie'. Both a based upon th8 design of the historically significant reSt0d Bantry Bay boat, which dales back to the late 18th century. The Truslees consider both boats to meet the definition of heritage assets, as defined by the Charities SORP IFRS1021. The chartty's heritage assets are not included in the 5t818ment ol assets and liabilitie5 as information on their cost or valuation is not available, and such information cannot be obtsined al a cost commensurate with the bènéfit lo the users of Ihts accounts and lo the charity.
Atlantic Challenge Northern Ireland STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2018 Unrestrlcled Funds 2018 Total Total 2018 2017 Notès Incoming Rtssources G¢n•rated funds: Voluntary Income Donèts'ons and Fundraising other Incoming rosources 15,393 15,393 8,304 2,000 Total Incomin9 resources 15,393 15,393 10,304 Ro$ourcos Expended R?sourco8 Expendèd on Charitable Actlvltoes Prof88sional fees and subscriptions Répairs and Maintenancè Insur8n¢e Evgnt costs Clothing and crew expen58S 8ank Charges and interest 771 771 756 3,160 258 6,699 727 64 2,148 1,378 576 108 2.148 1.378 576 108 4,981 4,981 11.664 Total Resources Exp•ndod 4,981 4,981 11,fj64 Gross Ir8nsfers beeen funds Net movement In fund$ for tho year 10,412 10,412 {1.360) Reconclllatlon of fvnd8 Balances brought forward al 1 April 2017 2,517 2.517 3,877 Balane•* carried fopward at 31 March 2018 12,929 12,929 2,517 The note5 on page 11 form part of the financial staiemgnts
Atlantic Challenge Northern Ireland BALANCE SHEET as at 31 March 2018 2018 2017 Note8 Current Assets Cash at bank and in hand 12.929 2,517 Not Curront As8et8 12,929 2,517 Totsl Assets less Currnnt Liabilities 12,929 2,517 Funds General lund lunreslricledl 12,929 2.517 Totsl funds 12,929 2.517 Charlle McAlll8tèr Trustee Nlgel Trustee Dale.. Date: The no¢es on page 11 form part of Ihe nnandal ststsments 10
Atlantic Challenge Northern Ireland NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2018 POST-BALANCE SHEET EVENTS The have been no significant events affecting thè Charity since the year-end, other than th8 successful hosting the bienni31 Internation Atldntic Challengg Conlesl ol Seamanship ill AnlTirn July 2018. The event was extremely w811 received, with countries compeling from across the world, including Russia, USA and France. The lo¢al Northern Ireland t68m being crowned Wodd Champions for the first time in it's history. The avenl, through exlernal funding, generous local sponsorship and support of the loG81 council and volunteers. made a surplus olc. £4,500. DESIGNATION OF FUNDS IATLANTIC CHALLENGE CONTEST OF SEAMANSHIPI As at 31 March 2018, Atlantic Challenge Northern Ireland IACNII had roceived funds tolalling £7,676 fiorn various affiliated Allantic Challenge organisalions wishing to compete the biènnial In18rn8tional Atlants'c Challenge Contest of Seamanship, which was hosted by ACNI in Anlrim during July 2018. The Trustees consider these funds to be UnStricted.. {Al Monies were paid on a non-refundable I deposit basis. IBI No r9Strictions were in place regarding how the funds could be utilised by the Charity. HERITAGE ASSETS As noted within our accounb'ng policies. Allanlic Challenge Northern Ireland owns owns 2 boats Igigsl, called Cwech John Kerr, and 'Hamonie'. Both are based upon the design of the historically significant restored Bantry Bay boat, which dat85 back lo th8 18le 18th century. The Trustees consid¢r both boats to meet the definition of heritage assets, as defined by the ChBrfjtieg SORP IFRS1021. The charty's heritage assets a not included in the stalern8nl of assets and liabilities as information on their co$1 or valuation is not available, and such Information cannot be obtained al a cost commensurate with the benefit to th& usars of the accounts and lo the charity. 11