Charlty Reglstration No. NIC00512 Company Reglstratlon No. N1047063 (Northern Ireland) MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD (A company limited by guarantee and not having a share capital) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD LEGAL AND ADMINISTRATIVE INFORMATION Trustees Deborah Neill Rosemary Quinn Rosemary Slmpson Marilyn Weekes (Appolnted 10 October 2022) (Appointed 10 October 2022) Secretary Rosemary Quinn Charlty number NIC00512 Company nurnber N1047063 Registered office 4 Wellington Court Ballymena Co. Antrlm BT43 6EG Auditor MBS Chartered Accountants 3 Hlgh Street Larne Co. Antrim BT40 1JN Bankers Danske Bank Donegall Square Wesl Belfast BT1 6JS
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD CONTENTS Page Trustees, report Independenl auditor's report Statement of financial aclivities Balance sheet 10 Statement of cash flows 11 Noles to the financial statements 12-20
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The trustees present their report and accounts for the year ended 31 March 2023. The financial statements have been prepared in accordance wlth the accountlng policles sel out In note I lo th8 financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accountlng and Reporting by Charities.. Statement of Recommended Practice appllcable to charities preparing their accounts in accordance with the Flnancial Reporting Slandard appllcable in the UK and Republic of Ire5and (FRS 102) (effective 1 January 2019)" ObJectlves and actSvitSes The company's objectives are to promole any charltable purpose for the benefit of the community in Mid and East Antrim by the advancement of education, the protection and preservation of health and Ihe relief of poverty, slckness and distress. To establish and provide and assist In Ihe provlslon of Mid & East Antrlm Community Advice Services and our outlets supplylng a free, independent. confidential and Impartial servlce of advlce, Information and counsel for Ihe public and to asslst the implementation of such advlce, informatlon, and counsel. To hold meetings and training either alone or with others. to maintain an active link of communication between the public and government, local government. and other public and charitable bodies. Itls our aim lo alone or wSth other organisalions seek to influence publlc oplnlon and make representations to and seek to inlluence governmental and olher bodles regarding the development and Implementalion of appropriate pollcSes. To provide evldence for government and other Inquiries and to co-operate and enler into arrangement wlth any authorities (national, local or othemise) and to obtain from any such authorities any rights, privlleges and concessions lo trade In the course of carrylng out the Objects of tha Company land in partScular lo enter inlo contracts to provlde services to or on behalf of other bodies) and to carry on any other trade which is not expected to give rise lo taxable profits. to accepl granls, subscrlptions and donations. Mid & East Anlrim CommunltyAdvice SeNices Trustee Board of Direclors, led by our chairperson, is responsible for ensuring Ihat our seNices are delivered and meel the need of local people whilst meeting all contractual and legal obligalions in line with charity law. Slaff and volunteers provide practical advice, negotiate on behalf of clients, and represent them formally, such as al tribunal hearings. Our client group consist of, but are not limited to, those in need by reason of youth, age, ill- health, disability, financial hardship, or other disadvantage. We assist clients from the general public, older people, unemployedllow Income, addictions {druglsolvenUalcohol abuse). carers, ethnic minorities, homelessness, mental health. physical disabilities and tenants. Common areas of inquiry for our services include: Benefits - entiflemenls. support with applications and appealing decisions Debt and money advice- how to manage debts, improve your financSal situation and maximise your income Consumer issues - from used cars to difficulties with gas and electrlcity suppliers Work-related problems - terms and conditions, dismlssal, redundancy, and inlimidalion Housing - from renting through to homelessness Relationships - splitting up, children and bereavement
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Mid & East Anlrim Community Servlces have specialist Welfare Reform Advisers in each office provlded by the Welfar8 Reform Support Project. We also have Debt Advisors in each office provided by the Debt Nl project and Penslonwise appointments are available to offer guidance to empower people to make informed decisions about thelr pension. From December 2022 we have been funded by Independent Age to host a Cost of Living Crisis telephone help line for older peopl8 worried or trying to navigate the grant support system available. We work in partnership with Mld & East Antrim Age Well Partnership to provlde our services to thelr clients across the Borough, Including face to face and home appointments. telephone advice and provision of other support. statement from Trusteès On Behalf of the board of Dlrectors of Mid & East Antrim Community Advlce the Chalrperson confirms that the said Board of Directors have Implemented the guldance from Charity Commlssion on publlc benefit. Contributlon of volunteers Although our volunteer numbers were greatly Impacted due to the pandemic. we were able to grow our volunteer force with an additional two volunteers completing training Ihis year, contributing to 3,600 in hours with a value of £39,240 (based on living wage). Achievements and performance Contract In addition to meeting our contraclual obligatlons with Mid & East Anlrim Borough Council for core funding, namely dealing with 42,000 enquiries and identifying £3.5M in unclaimed benefits. Distributlon of slow cookers Mid and East Antrim Community Advice Services identified 300 residents to be offered slow cookers, alr fryers and electric blankets. Ukrainian families were Identified by MEACAS who would benefit from a slow cooker and cookbook provided by NHSCT in their nalive language. These were dlstribuled by MEACAS. MEA Uniform Exchange MEACAS introduced a uniform exchange which serves all the schools in Mid & East Antrlm. Pre-loved second hand and new school uniforms are donated and redistributed free to those who wish to up Cycle and reuse uniforms. During 2022-23 the equivalent in new uniforms of over £40K were distributed lo families throughout Mid & East Anlrim. MEA PovertyA¢tion Group MEACAS continue to chair the MEA Poverty Action Group. We manage an inter-agency referral system to provide a wraparound service for those clients experiencing difficulties. We provide advice, support, and practical help. Our members include NIHE, NHSCT, CAP. Credit Union, PSNI, MEA Council and local food banks. Some of the items we were able to provide to cllents in need were food, eleclric blankets, oil filled radiators, slow cookers, duvets, and pillows as well as vouchers for electricity and gas,
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Flnanclal review The Statement of Flnancial Aclivilies outlines Mid & East Anlrim Community Advice Service Limlted's income, expenditure and funds for the 202212023 year. Income of £651,849 shows an increase of £62,171 on tha previous year mainly due to one-off covid related grants, expenditure increased by £102,651 on the previous year. Roserves policy It is Ihe policy of the charlty that unrestricted funds which have not been designated for a speclfic use should be maintained at a level equivalent to between three and slx months expenditure. The trustees conslder that reserves at thls18vel wlll ansure that, in the event of a signlflcant drop In funding, they will be ablo to continue the charity's current activllles while consideration is given to ways in which additional funds may be raSsed. This current level of free reseNes falls short of this, but the Trustees continue to monitor. Risk assessment The trustees have assessed the major risks to whSch the charity is exposed. and are satisfied that systems are in place to mitigate exposure to the major risks. Structure, governance and management The charity is a company limited by guarantee and acceptable as charitable by HMRC under reference XR39848. The company was incorporated on 25th June 2003, The company was established under a Memorandum of Association whlch established the objects and powers of the company, and is governed by il's Articles of Associallon. The Irustees, who are also Ihe dlrectors for the purpose of company law, and who seNed during the year and up to the dato of slgnature of the financial statements were.. Deborah Neill Rosemary Quinn Rosemary Simpson Marllyn Weekes (Appointed 10 October 2022> (Appointed 10 October 2022) The Directors of the company are also charity Trustees for the purpose of charity law. Under the requirements of the Memorandum and Articles of Association unless olheNise determined by the company in General Meeting the number of Truslees shall not be less than three and is nol subject to any maximum. Tuslees are elected lo serve only until the next Annual General Meeting, at whlch Ihey shall then be ellgible for re-election. In agreemenl wilh the Board one new board member was co-opted on lo the board, a further two members will be sought during 2023-24 to ensure Ihat the quota of Iruslees is maintained. All applications to Join the board are advertised in MEA local papers. None of the trustees has any beneficial interest in the company. All of Ihe trustees are members of the company and guarantee to contribule £1 in the event of a winding up.
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARGH 2023 statement of trustees, responsibllitles The trustees, who are also Ihe directors of Mid & East Anlrim Community Advice SeNices Ltd for Ihe purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees lo prepare financial statements for each financial year which give a Irue and fair vlew of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charilable company for that year. In preparing these financial statements. the trustees are required to: select suitable accounting policies and then apply Ihem consistently., observe the methods and principles in the Charilies SORP; make judgements and eslimates that are reasonable and prudent. and prepare the financial statements on the going concern basis unles5 it is inappropriate to presume that the charlty will continue In operation. The trustees are responsible for keeping adequate accounling records that disclose with reasonable accuracy at any time the financial positlon of the charily and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor In accordance with the companls articles, a resolution proposlng that MBS Charlered Accountants be reappointed as auditor of the company will be put at a General Meeting. The trustees, report was approved by the Board of Trustees. Rosemary Quin Trustee & Director Dated: 19 December 2023
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD Oplnlon We have audited the financial slatements of Mid & East Antrlm Community Advice Services Ltd (the 'charity'J for the year ended 31 March 2023 which comprise the statement of financial aGtivities, the balance sheet, the statement of cash flows and Ihe notes lo the financial statements, including slgnificant 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 Standard applicable In the UK and Republic of Ireland {Uniled Kingdom Generally Accepted Accounting Practice). In our opinlon, the financial stalements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, for the year then ended; have been properly prepared in accordance wilh United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requiremenls of the CompaniesAct 2006. Basls for opinion We conducled our audit in accordance with Inlernational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under Ihose slandards are further described in the Audilors responsibilities for the audit of the financial slalements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibllities in accordance with these requirements. We believe that the audit evidence we have obtalned is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the golng concern basis of accountlng in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertaintles relatlng to events or conditions that, Indivldually or collectively, may cast signiflcant doubt on the charity's ability to contlnue as a going concern for a perlod of at leasl twelve months from when the financlal statements are authorlsed for issue. Our responsibiSities and the responsibllilies of the trustees wlth respect to going concern are descrlbed in the relevanl seclions of this report. other Informatlon The oth@r information ¢omprSses the informalion Included In the annual report olher than the financial statements and our auditor's report Ihereon, The trustees are responsible for the other Informatlon contalned withln the annual report. Our opinlon on the financial statemenls does not cover the other information and we do not express any form of assurance concluslon thereon. Our responsibillty is to read the other information and, In doing so. conslder whether the other informalion Is materially in¢onslstent with the financial statements or our knowledge obtained in the course of the audlt, or otherwise appears to be materially misstated. If we Identify such material inconsistencies or apparent material mlsstatements, we are requlred to determine whether this gives rise to a material mlsstatement n the financlal statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of thls other information, we are requlred to report that fact. We have nolhing to report In this regard. Matters on whlch we are required to report by exceptlon We have nothing to report in respect of the following matters in relalion to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: the information given in the financial statements is inconsistent in any material respect with the trustees, report. or sufficient ac¢ounling records have not been kept., or the financial statements are not in agreement with the accounting records., or we have nol received all Ihe information and explanations we require for our audit.
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD Responslbllities of trustees As 6xplained more fully in the statement of Iruslees, responsibilities, the trustees, who are also the directors of the charity for fihe purpose of company law, are responsible for the preparation of the financial statements and for being salisfied that they give a true and fair view, and for such internal control as the trustees determine is n9ssary to enable the preparatlon of financial statements that are free from material misslatemenl, whether due to fraud or error, In preparing the financial statements, the trustees are responsible for assessing the charily's abilily to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to Ilquidate the charltable company or lo cease operatlons, or have no realislic alternatlve but to do so. Auditor's responslbilities for the audit of the financlal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted In accordance wilh ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, Individually or in tho aggregate, they could reasonably be expected to influence the economic decislons of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD Extent to which the audlt was consldered capable of detectlng Irregularitles, Includlng fraud Wa identlfy and assess the rlsks of materlal misstatement of the financlal statements, whether due to fraud or error, and Ihen design and perform audit procedures responslve to Ihose risks, including obtaining audit evldence that is sufficient and appropriat8 to provide a basls for our opinlon. n Id8nlifylng and assessing potontial risks of material mlsstatement in respect of irregularities, including fraud and non-compllances with laws and regulations. we considered the following: The natura of the industry and sector, control environment and business performance. including the company's remuneratlon pollcles for directors, bonus levels and performance largets, if any; Results of our enqulries of management about thelr own identiflcation and assessment of the risks of irregularitles. Any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating lo: Identifying, evaluating and complying with laws and regulations and whether they were aware of any instance of non-compliance., Detecling and responding to the risks of fraud and whether they have knowledge of any actual . suspected or alleged fraud; and The inlernal controls established to mltigate risks of fraud or non-compliance wilh laws and regulalions- The matters discussed among the audit engagement team regarding how and where fraud might occur in Ihe financial statements and potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives Ihat may exist wilhin Ihe company for fraud and identified the greatest potential for fraud in income recognitlon. In common with all audits under ISAS (UK) we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determlnation of material amounts and disclosures In the financial statements. The key laws and regulatlons we Gonsidered in this context included the Companies Act 2006, and local lax leglslation. In addition, we considered provisions of other laws and regulations that do nol have a direct effect on the financial statemenls but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. Audlt response to risks Identlfled Our procedures to respond to the risks Idenlified included the following: Reviewing Ihe financial statement disclosures and lesting lo supporting documentation lo assess compliance with provisions of relevant laws and regulations described as havlng a direct effect on the financial statemenls; Enquirlng of management concerning actual and potential litigation and claims; Performing analyllcal procedures to identify any unusual or unexpecled relationships Ihat may indicate risks of material misstatement due to fraud. Reading minutes of meellngs of those charged with governance and reviewing correspondence with tax authoritSes', and In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the Judgments made in making accounting estimates are indicative of a potential bias., and evaluatlng the business rationale of any significant transactions that are unusual or outslde the normal course of business. We also communicated relevant identified laws and regulations and potenllal fraud risks to all engagement team members and remained alert to any Indications of fraud or non-compliance with laws and regulations Ihroughout the audit. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected 80me material misstatements In the financial slatements, even though we have properly planned and performed our audit in accordance with audiling standards. In addition, as with any audit, there remains a higher risk of non-detection of irregularities, as they may involve collusion, forgery intentional omissions. misrepresentations, or the override of internal controls. We are not responslble for preventing non-compliance and cannot be expected to detecl non- compliance with all laws and regulations. A further description of our responsibilitles is available on the Financial Reporting Council's website at.. htlps',11 www.frc.org..ukJauditorsresponsibililies. This description forms part of our auditor's reporl.
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD Use of our report This report is made solely to the charitable Gompany's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charilatle company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or forthe opinions we have formed. Simon Hopper FCA (Senior Statutory Auditor} for and on behalf of MBS Chartered Accountants Statutory Auditor 3 High Street Larne Co. Antrim BT40 1JN 19 December 2023 MBS Chartered Accountants is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Acl 2006.
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARGH 2023 Unrestrlcted Restrlcted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Notes Income from: Donations and legacies Charitable activitles Investments 340 291,583 340 651,509 20,296 268.393 35 5,024 295,930 25,320 564,323 35 359,926 651,849 288,724 300,954 589,678 Total income 291,923 359,926 enditure on: Charllable activltles 313.242 375,313 688,555 288,502 297,403 585,905 Net (expendlture)lincome for the yearl Net movement In funds {21,319) (15,3871 136,706) 222 3,551 3,773 Fund balances at 1 April 2022 1,145 25,129 26,274 923 21,577 22,500 Fund balances at 31 March 2023 26,273 {20,174) 9,742 110,432) 1,145 25,128 The slalement of financial aclivities includes all galns and105s8s recognlsed in Ihe year. All Income and expenditure derive from continuing activitles. The statement of financial actlvities also complies with Ihe requirements for an income and expenditure account under the CompaniesAct 2006.
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD BALANCE SHEET ASAT 31 MARCH 2023 2023 2022 Notes Fixed assets Tangible assets Current assets Deblors Cash al bank and in hand 10 17,596 14,500 11 27,775 11,576 943 19,313 39,351 20,256 Credltoys: amounts falling due wlthln one year 13 {67.379) (8,483) Net currenl (liabilities)lassets (28,028) 11.773 Total assets less current liabS111ies (10,432) 26,273 Income funds Restricted funds UnrestrScted funds 9,742 (20,174) 25.128 1,145 (10,432) 26,273 The company Is entitled to the exemplion from the audit requirement contalned in section 477 of the Companies Act 2006, for the year ended 31 March 2023, although an audit has been carried out under section 144 of the Charities Ac12011. The directors acknowledge their responslbilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements whlch give a true and fair view of the state of affalrs of the company as al the end of the financial year and of its incoming resouroes and app5icatlon of resources, including its income and expenditure, for the financlal year In accordance wlth the requirements of sections 394 and 395 and which otheNise comply with the requlremenls of the Companles Act 2006 relating to financial statements, so far as applicable to the company. The members have not requlred the company to obtain an audit of Its financlal statements under the requirements of the Companles Act 2006, for the year in question in accordance wlth sectlon 476 of the Companies Act 2006. These financial slatements have been prepared in accordance with the provlslons appllcable to companles subject to Ihe small companies regime. The financlal statements were approved by the Trustees on 19 December 2023 r)dDathJ Deborah Neill Trustee & Director Company Registration No. N1047063 10-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Noles Cash flows from operating activltles Cash absorbed by operations (54,174) (85,141) Inv6Stlng aetlvltlès Purchase of tanglble fixed assets Inveslment income received {10.563) {3,125} 35 Net cash used In Investlng a¢tlvities (10,563) (3,090) Financing activities Repayment of borrowSngs 57,000 Net cash generated froml{used In) flnanclng actlvltles 57,000 Nèt decrease in cash and cash equivalents {7.737) (88,231) Cash and cash equlvalents at beginning of yoar 19,313 107,544 Cash and cash equivalents at end of year 11,576 19,313 11
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcles Charlty Informaflon Mld & East Antrim Community Advlce Services Ltd Is a private charltable company limlted by guarantee incorporated in Northern Ireland. The registered office is 4 Wellington Court. Ballymena, Co. Antrim. BT43 6EG. 1.1 Ac¢ountlng conventlon The accounts have been prepared in accordance with Iha charity's M8morandum and Artlcles ofAsso¢iatlon, the Companles Act 2006 and "Accounting and Reportlng by Charilles: Statement of Recommended Pracllce applicable to charllies preparlng their accounls in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}" (as amended for accounting periods commencing from 1 January 2016}. The charity is a Publlc Benefil Entity as defined by FRS 102. The charity has taken advantage of the provlsions in Ihe SORP for charities applying FRS 102 Update Bulletln 1 not lo prepare a Statement of Cash Flows. The financial statements are propared in sterling. whlch is the functional currency of tha charlty. Monetary amounls in these flnanclal statemenls are rounded to th8 nearest £. The financial statements have been prepared under Ihe hlstorical cost convenllon, modified to include the revaluatlon of freehold properties and to include investment properties and certain financial instrumenls at falr value. The prlncipal accountlng policles adopted are set out below. 1.2 Golng concern At th8 time of approvlng the finanGlal statemenls, the trustees have a reasonable expectation that the charity has adequate resources to contlnue In operational existence for the foreseeable future. Thus the Irusteas continue to adopt the going concern basis of accounting In preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to speciflc condillons by donors as lo how they may be used. The purposes and uses of tho restricted funds are set out In the notes lo the financSal statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is re¢ognlsed when the charity is legally entitled lo it after any performance condltions have been met. the amounts can bo measured rellably, and it is probable thal income will be received. Cash donatlons are recognised on recelpt, Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Ald or deeds of Covenant is recognised at the lime of the donation. Legacies are recognised on receipt or otherwise if the chaflty has been notified of an impending distribulion, the amount Is known, and receipt is expected. If the amount 15 not known, the legacy is Ireated as a Contingent asset. 12-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policles (Continued) 1.5 Expendlture Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operallons from suppliers. Amounls payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabllities. Trade credltors are recognised initially at tran5aclion price and subsequently measured at amortlsed cost using the effective Interest method. 1.6 Tangible fixed assets Tangible fixed assets are inltially measured al cost and subsequently measured at cost or valuation. net of depreclation and any Impairment losses. Depreciation is recognised so as to write off the cosl or valuation of assets less their residual values over their useful lives on the following bases,. Flxtures and fittings The gain or loss arising on the disposal of an asset is delermlned as the difference between the sale proceeds and the Carrying value of Ihe asset, and is recognised in net incomel(expenditure} for tho year. 15 % straight Ilne 1.7 Impalrment of flxed assets At each reporting end date, the ¢harlty revlews the Carrylng amounts of its langible assets to determine whether there is any Indication that those assets have suffered an impairment loss. If any such indication exists. the recoverable amount of Ihe asset is estimated in order to determlne the extent of the impairment loss (If any), 1.8 Cash and cash equlvalents Cash and cash eguivalents include cash in hand, deposits held at call with banks, other short-term liquld nvestmenls with original maturilies of three months or less, and bank overdrafts. Bank overdrafts are shown withln borrowings in current liabilities. 1.9 Financial Instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Inslruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charily's balance sheel when Ihe charity becomes party to Ihe contraclual provisions of the instrument, Financial assets and liabililies are offset, with Ihe net amounts presented in the financSal statements, when there is a lega15y enforceable right to set off the recognised amounts and there is an inlenlion to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financlal assets, which include debtors and cash and bank balances, are ini118lly measured at transaction price Including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslitutes a financing transaction, where the transaction is measured al the presont value of the future recelpts discounted at a market rate of interest, Financial assets classified as receivable within one year are not amortised. 13-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng policies (Contlnued) Basic flnanclal liabilitles Basic flnancial liabilities, including creditors and bank loans are inltially recognised at transactlon prlce unless the arrangement constitutes a financing transaction, where the debt Instrument is measured at the present value of the future payments discounted at a market rate of interest. Financlal liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in Ihe 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-current liabillties. Trade creditors are recognised inltially at transaclion price and subsequently measured at amortised cost using the effective interest method. Derecognition of flnanclal Ilabilltles Financial Ilabilities are derecognised when the charity's contraclual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the perlod in which Ihe employee's services are received. Termination benefits are recognised immedlately as an expense when the charlly is demonstrably committed to terminate the employment of an employee or to provlde termination benefits. 1.11 Retlrement beneflts Payments to defined contributlon retirement benefit schemes ar8 charged as an expense as they fall due. Crltical a¢countlng estlmates and judgements In the application of the charity's accounting policies. the trustees are requlred to make judgements, estimates and assumplions about the carrylng amounl of assets and liabilities that are not readily apparent from other sources. The estimates and assoclated assumptions are based on historical experience and other faclors Ihat are considered to be relevant. Actual results may differ from these estimates. The esllmates and underlying assumptions are reviewed on an ongoing basis. Revisions to accountlng estlmates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of Ihe revlsion and future periods where the revislon affects bolh currént and future periods. 14-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Donations and legacles Unrestrlcted Unreslrlcted Restricted funds funds funds Total 2023 2022 2022 2022 Donatlons and glfts Furlough grants 340 20,296 5,024 25,320 340 20,296 5,024 25,320 15-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charltable actlvities Charltoblo Income Total 2023 Total 2022 Mld & EastAntrim Council Pension Wise Mld & East Antrim Agewell Partnership Welfare reform Ukraine Assistance Centre MAS Summer Support Scheme & AFC Department for Communities IndependentAge Poverty Action Group Jobstart Scheme Victim Support 200,000 5,850 1,750 92,322 27.100 56,537 132,909 62.970 20,000 5,000 45,321 1,750 200,000 5,850 1.750 92,322 27,100 56.537 132,909 64,720 20,000 5,000 45.321 1,750 263,893 4,500 1,075 76,555 64,375 98,037 55.888 651,509 651.509 564,323 Analysis by fund Unrestricted fvnds Reslrlcled funds 291,583 359,926 291,583 359.926 651,509 651,509 For the year ended 31 March 2022 Unrestricted funds Restricted funds 268,393 295,930 268,393 295,930 564,323 564.323 Investments Total Unrestricted funds 2023 2022 35 Bank interest 16-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charllable actlvltles 2023 2022 422.955 17,809 2.125 1,791 1.165 6,584 19,738 4,194 staff costs Depreciation and impalrment Travel expenses Volunteer expenses Summer Suppori Scheme & AFC Expenses Covid-19 Support expenses Poverty Actlon Group staff tralning Ukraine Assistance Centre 534,691 7.467 3,708 45,686 2,140 13,019 4,439 1,969 613,119 476,361 Share of support costs {see note 7) Share of governance costs (see note 7) 71.597 3,839 106,921 2,623 688,555 585,905 Analysis by fund Unrestricted funds Restrlcted funds 313,242 375,313 288,502 297,403 688,555 585,905 For tho year ended 31 March 2022 Unrestricted funds Restrlcted funds 288,502 297,403 585,905 17-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs Support Governance costs costs 2023Support costs Govemance costs 2022 Rent & water rates Insurance Heat & light Repairs & maintenance Computer expenses Sundry expenses Bank charges & interest Telephone Printing, stationery & postage 21,751 3,700 1.973 3,440 12.831 3,585 73 18,667 21,751 3,700 1,973 3,440 12,831 3,585 73 18,667 24,982 4,220 2,941 2,172 16,051 42.950 55 10,959 24,982 4,220 2,941 2,172 16,051 42,950 55 10,959 5.577 5,577 2,591 2,591 Legal and professional 3,839 3,839 2,623 2,623 71,597 3,839 75,436 106,921 2,623 109,544 Analysed belween Charitable aclivlties 71,597 3,839 75.436 106,921 2,623 109,544 Trustees None of the trustees (or any persons connected with them) received any remuneration or beneflls from the charlty durlng Ihe year. Employees The average monthly number of employees during the year was: 2023 Number 2022 Number 22 20 Employment costs 2023 2022 Wages and salaries Social security costs Other penslon costs 486,495 35,447 12,749 386,803 27,832 8,320 534,691 422,955 There are no employees whose annual remuneration was greater than £60,000. 18-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 10 Tanglble flx8d assets Flxtures and flttlngs Cost At 1 April 2022 Addilions 118,724 10,563 At 31 March 2023 129,287 Depreciatlon and Impalrment At 1 April 2022 Depreciation charged in the year 104,224 7,467 At 31 March 2023 111.691 Carrylng amount Al 31 March 2023 17,596 At 31 March 2022 14,500 11 Debtors 2023 2022 Amounts falllng due wlthln one year: Other debtors 27.775 943 12 Loans and overdrafts 2023 2022 other loans 57,000 Payable wlthln one year 57.000 13 Credltors: amounts falllng due wllhln one year 2023 2022 Borrowings other taxation and social security Accruals and deferred income 57.000 7.019 3,360 7,043 1,440 67,379 8,483 19-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 14 Analysls of net assets between funds Unrestricted Restrlcted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Fund balances at 31 March 2023 are represented by., Tanglble assels Current assetsl(Ilabillties) 17,596 (37,770) 17,596 (28,028) 14,500 (13.356) 14,500 11,773 9,742 25,129 (20,174) 9,742 (10,432) 1,144 25.129 26,273 15 Post balance sheet events The company changed it's name to Mid & East Antrim Community Advice Services Ltd. on 10 October 2018. -20-