Charlty Reglstratlon No. NIC00512 Company Reglstratlon No. N1047063 (Northern Irelandl 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 2024
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD LEGAL AND ADMINISTRATIVE INFORMATION Trustees Deborah Neill Rosemary Quinn Rosemary Simpson Marilyn Weekes Secretary Rosemary Quinn Charlty number NIC00512 Company number N1047063 Reglstered offlce 2 Stalion Road Larne Co. Anlrim BT40 3AA Audltor MBS Chartered Accountants 3 High 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 Statement of trustees, responsibilities Independent auditor's report statement of financial activities Balance Sheet 10 Statement of cash flows Notes to Ihe financial statements
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report and accounls for the year ended 31 March 2024. The financial stalements have been prepared in accordance with Ihe accounting policies set out in note 1 to the financial statements and comply wilh the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Stalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019) Objectives and activities The Company's objectives are to promole charitable purposes that benefit the community in the Mid & East Antrim Borough Council area through the advancement of education, the protection and presetvation of health, and the relief of poverty, sickness, and distress. We aim to establish and provide advice services offering free, independent, confidential, and impartial advice, information, and support to the public, and to support the implementation of such guidance. We hold meetings and training sessions, either independently or in collaboralion with others, while mainlaining active communication between the public, governmenl, local government, and other public and charitale organisations. Our goal is to influence public opinion and make representalions to governmental and other bodies regarding the development and implementation of appropriate policies through our Social Policy work. We will provKle evidence for government, both local and national, cooperate with authorities (national, local, or othe1$e), and seek to obtain rights, privileges, and concessions thal allow us to operate in alignment with the Company's objectives. This includes entering into contracts to provide services to or on behalf of other entities and engaging in any other trade that is not expected to generate taxable profits. Addilionally, we accept grants, subscriptions, and donations to support our mission. ACTIVITIES The Trustee Board of Directors for Mid & East Antrim Community Advice Services, led by our chairperson, is responsible for ensuring that our services are effectively delivered to meet the needs of local residents while complying with all contractual and legal obligalions in accordance with charity law. Our staff and volunteers offer practical advice, negotiate on behalf of clients, and represent them in formal settings, such as tribunal hearings. Our client group includes, but is not limited lo, individuals in need due lo reasons such as youth, age, ill health, disability, financial hardship, or other disadvantages. We assist a diverse range of clienls, including members of the general public, older adults, the unemployed or those with low incomes, individuals dealing with addictions (including drug, solvent, and alcohol abuse), carers, ethnic minorities, the homeless, and those with mental health or physical disabilities, as well as tenants. Common areas of inquiry for our services include.. Beneflts - enlitlements, support with applications and appealing decisions Debt and money advlce- how to manage debts, improve your financial situation and maximise income Consumer Issues - from used cars to difficulties with gas and electricity suppliers Work-related problems- terms and conditions, dismissal, redundancy, and intimidation Houslng- from renting through to homelessness Relationships - separation, children and bereavement
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 PROJECTS Mid & East Antrim Community Advice Services have specialised Welfare Reform Advisers in each of our offices, funded by the Welfare Reform Support Project. Additionally, we have Debt Advisors in each office through the Debt Nl project and offer Pensionwise appointments to guide individuals aged 50 and over, in making informed decisions about their pensions. We collaborate with the Mid & East Anlrim Age Well Partnership to extend our services to Iheir clients throughout the Borough, offering face-to-face appoinlmenls, home visits, telephone advice, and the provision of other necessary support and guidance. STATEMENT FROM TRUSTEES On behalf of the board of Directors of Mid & East Antrim Community Advice the Chairperson confirms that the said Board of Directors have implemented the guidance from Charity Commission on public benefit. CONTRIBUTION OF VOLUNTEERS Our volunteer numbers were greatly impacted due lo the pandemic. however, we conlinue to grow our volunteer team members who provide an invaluable contribution lo the work we do through their lived experience and wealth of knowledge from all areas and aspects of life. Achlevements and performance In the year 2023124, across all projects MEACAS provided advice, help and support to 15511 clients, dealing with 27,812 issues. The total income generated for our clienls across all projects was £4,230,759. This income is generated primarily by the identification of benefit entitlement and subsequent successful benefit applications and successful benefit appeals. Flnanclal review The charily, s incoming recourse for the year amounted to £511,807 (2023.. £651,849). Principal sources of funding are from grants and donations. The outgoing expenditure for the year amounted to £541,129 (2023 £688,555) The nel outgoings for the year amounted to £29,322 (2023.. outgoing £36,706). The Charity is extremely grateful to all its grant funders, without whose support Mid & East Anlrim Community Advice Services would not be able to run a number of its activities. Reserves pollcy It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months expenditure. The trustees consider that reserves al this level will ensure that, in the event of a significant drop in funding, they will be able lo Continue the charity's current activities while consideration is given to ways in which additional funds may be Trised. This current level of free reseNes falls short of this, bul Ihe Trustees continue to monitor. Rlsk assossment The trustees have assessed the major risks to which the charity is exposed, and are satisfied that Systems are in place to mitigate exposure to the major risks.
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT> FOR THE YEAR ENDED 31 MARCH 2024 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 which established the objects and powers of the company, and is governed by it's Articles of Association. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were- Deborah Neill Rosemary Quinn Rosemary Simpson Marilyn Weekes The Directors of the company are also charity Trustees for the purpose of charity law. Under the requirements of Ihe Memorandum and Articles of Association unless otheiSe determined by the company in General Meeting the number of Trustees shall not be less than three and is not subject to any maximum. Tustees are elected to serve only until the next Annual General Meeting, at which they shall then be eligible for re-election. In agreement wilh the Board one new board member was ctropted on to the board, a further two members will be sought during 2023-24 to ensure that the quota of trustees 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 the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Auditor In accordance with the company's articles, a resolution proposing that MBS Chartered Accountanls be reappointed as auditor of the Company will be put at a General Meeting. The trustees, report was approved by Ihe Board of Trustees. Roseffia inn Trustee & Director Dated.. iolii124........
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also the directors of Mid & East Antrim Community Advice Services Ltd for the purpose ol company law, are responsible for preparing Ihe Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounling Practice). Company Law requires the trustees to prepare financial statemenls for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for thal year. In preparing these financial statements, the trustees are required to= select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records thal disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure Ihat the financial statemenls comply with the Companies Acl 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.
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 statements of Mid & East Anlrim Community Advice Services Ltd (the 'charity') for the year ended 31 March 2024 which comprise the slatemenl of financial activities, the balance sheet and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Th8 Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of Ihe slate of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year Ihen ended; have been properly prepared in accordance wilh United Kingdom Generally Accepted Accounting Practi. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audil ol the financial statements section of our report. We are independent of the charity in accordance wilh the ethical requirements that are relevant to our audit of the financial slatements in Ihe UK, including the FRC'S Ethical Standard, and we have fulfilled our other elhical responsibilities in accordance with these requirements. We believe that the audit evidence we have oblained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In audiling the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncerlainties relating to evenls or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevanl sections of this report. other Informatlon The other information comprises the information included in the annual report other than the financial statements and our audilor's report Ihereon. The trustees are responsible for the other informalion contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsislenl with Ihe financial slatements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required lo report Ihat fact. We have nothing to report in this regard. Matters on whlch we are requlred to report by exception We have nothing to report in respect of the following matters in relation 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 15 inconsistent in any material respect wilh the trustees, report., or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records., or we have not received all the informatior¢ 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 Responslbllltles of trustees As explained more fully in the statement of trustees, responsibilities, the Irustees, who are also the directors of the charity for the purpose of company law, are responsible for Ihe preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statemenls, the trustees are responsible for assessing Ihe charity's ability 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 liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Audltor's responslbllltles for the audit of the financial statements We have been appointed as auditor under section 65 of the Charities Act {Northern Ireland} 2008 and report in accordance with the Act and relevanl 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 bul is not a guarantee that an audit conducted in accordance with 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 the aggregate, they could reasonably be expected to influence the economic decisions 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 wilh our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent lo which our procedures are capable of delecting 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 whSch the audlt was considered capable of detectlng irregularities, includlng fraud We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and Ihen design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing potential risks of material misstatement in respect of irregularities, including fraud and non-compliances with laws and regulations, we considered the following.. The nature of the industry and sector, control environment and business performance, including the company's remuneration policies for direclors, bonus levels and performance targets, if any., Resulls of our enquiries of management about their own identification and assessment of the risks of irregularities-, Any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to: Identifying, evaluating and complying with laws and regulations and whelher they were aware of any instance of non-compliance., Detecting and responding to the risks of fraud and whether they have knowledge of any actual suspected or alleged fraud,. and The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations., The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud. As a result of these procedures, we considered the op.portunities and incenlives that may exist within the company for fraud and identified the greatest potential for fraud in income recognition. In common with all audits under ISAS (UK) we are also required lo 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 determinalion of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006, and local tax legislation. In addilion, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamenlal to the company's ability to operate or to avoid a material penalty. Audit response to risks identified Our procedures to respond to Ihe risks identified included the following.. Reviewing the financial statement disclosures and testing to supporting documentation lo assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements. Enquiring of management concerning actual and potential litigalion and claims,. Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misslatemenl due to fraud., Reading minutes of meetings of those charged wilh governance and reviewing correspondence with tax authorilies., and In addressing the risk of fraud Ihrough 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 potenlial bias., and evaluating the business rationale of any significant transactions that are unusual or outside Ihe normal course of business. We also communicated relevanl identified laws and regulations and potenlial fraud risks to all engagement leam members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may nol have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing slandards. 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 responsible for preventing non-compliance and cannot be expected to detect non- compliance wilh all laws and regulations. A further description of our responsibilities is available on the Financial Reporting Council's website at.. hltps'.11 www.frc.org..uklauditorsresponsibilities. This description forms part of our auditor's report.
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 company'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 charitalJe company's members those matters we are required to stale to them in an auditorfs 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. Slmon Hopper FCA (Senior Statutory Audltor) for and on behalf of MBS Chartered Accountants statutory Audltor 3 High Street Larne Co. Antrim BT40 1JN 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 Act 2006.
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restrlcted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Tolal 2024 2023 Notes Donations and legacies Charitable activities 80 237,975 80 511,727 340 291,583 340 651,509 273,752 359,926 Total Income 238,055 273,752 511,807 291,923 359,926 651,849 Charitable activities 243,807 297,322 541,129 313,242 375,313 688,555 Net expenditure for the yearl Net movement in funds (5,752) {23,570) (29,3221 (21,319) (15,387) (38,706) Fund balances at 1 April 2023 (20,174) 9,743 (10,4311 1,145 25,129 26,274 Fund balances at 31 March 2024 (25,926) (13,827) (39,753) (20,174) 9,742 (10,432) The statement of financial activities includes all gains and losses recognised in the year. All income and expendilure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 14,257 17,596 10 10,543 18,276 27,775 11,576 28,819 39,351 Creditors: amounts falllng due wlthln one year 12 (82,829) {67,379) Net current liabilities (54,010) (28,028) Total assets less current liabilities (39,753) {10,432) Income funds Restricted funds Unrestricted funds (13,827) {25,926) 9,742 {20,174) {39,753) {10,4321 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024, although an audit has been carried out under section 144 ofthe Charities Act2011. The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fairview of the slate of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of seclions 394 and 395 and which otherwise comply with the requirements of Ihe Companies Act 2006 relating to financial statements, so far as applicable to the company. The members have not required the company to obtain an audit of ils financial stalemenls under the requirements of the Companies Act 2006, for the year in queslion in accordance with section 476 of the Companies Act 2006. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on Deborah Neill Trustee & Director Company Registration No. N1047063 10-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Charity information Mid & East Antrim Community Advice Services Ltd is a private charitable company limited by guarantse incorporated in Northern Ireland. The registered office is 2 Station Road, Larne, Co. Antrim, BT40 3AA. 1.1 Accounting convention The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and 'Accounting and Reporting by Charities: Slatement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial 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 Public Benefit Entity as defined by FRS 102. The charity has taken advantage of Ihe provisions in the SORP for charilies applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial slatemenls are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include Ihe revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounling policies adopled are set out below. 1.2 Golng concern At the time of approving Ihe financial statements, the trustees have a reasonable expectalion that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees 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 specific conditions by donors as to how they may be used. The purp)ses and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable Ihat income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation to donalions received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, Ihe amount is known, and receipt is expected. If Ihe amount is not known, the legacy is treated as a contingent asset. 1.5 Expendlture Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operalions 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 liabilities. Trade creditors are recognised initially al transaction price and subsequently measured al amortised cost using the effective interest method. 11
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies (Continued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured al cost or valuation. net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over Iheir useful lives on the following bases.. Fixtures and fittings 15 % straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net incomel(expenditure) for the year. 1.7 Impairment of flxed assets At each reporting end date, the charity reviews the carrying amounts of ils tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such IndatIOn exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Cash and cash equlvalents Cash and cash equivalenls include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three monlhs or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Seclion 12 'Other Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contraclual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presenled in the financial statements, when Ihere is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and seltle the liability simultaneously. Basic financlal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured a transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounled at a market rate of interest. Financial assets classified as receivable wilhin one year are not amortised. Basic financial liabllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price 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. Financial liabilities classified as payable wilhin 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 thal have been acquired in the ordinary course of operalions from suppliers. Amounts payable are classified as currenl liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at Iransaction price and subsequently measured at amortised cost using the effective interest method. 12
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Continued) Derecognition of financial liabilities Financial liabilities are derecognised when the charity's conlractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in Ihe period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide terminalion benefits. 1.11 Retlrement beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the eslimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legacies Unrestrlcted Unrestricted funds funds 2024 2023 Donations and gifts BO 80 340 340 13
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable actlvitles Charltable Income Total 2024 Total 2023 Mid & East Antrim Council Pension Wise Mid & EastAntrim Agewell Partnership Welfare reform Ukraine Assistance Centre MAS Affordable Food Club Projecl Management Lunch Box Department for Communities A & FIT Project Independent Age Poverty Action Group Jobstart Scheme Victim Support 226,600 8,675 2,950 80,085 226.600 6,675 2,950 80,085 220,000 5,850 1,750 92,322 27,100 56,537 132,909 28,883 2,016 39,997 60,000 28,883 2016 39,997 60,000 64,720 3,531 20,000 10,153 30,604 1,750 3,531 20,000 10,153 30,604 1,750 20,000 5,000 45,321 1,750 511,727 511,727 651,509 Analysis by fund Unrestricted funds Restricted funds 237,975 273,752 237,975 273,752 511,727 511,727 For the year ended 31 March 2023 Unrestricted funds Restricted funds 291,583 334,926 291,583 359,926 626,509 651,509 14-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable activities 2024 2023 staff costs Depreciation and impairment Volunteer expenses Affordable Food Club Agewell Poverty Aclion Group staff training Ukraine Assistance Centre 423,704 5,296 4,387 4,278 10,000 8,061 534,691 7,467 3,708 45,686 2,140 13,019 4,439 1,969 4,047 459,773 613,119 Share of support costs (see note 6) Share of governance costs (see note 6) 76,036 5,320 71,597 3,839 541,129 688,555 Analysls by fund Unrestricted funds Reslricled funds 243,807 297,322 313,242 375,313 541,129 688,555 For the year ended 31 March 2023 Unrestricted funds Restricted funds 313,242 375,313 688,555 15-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governance costs costs 2024 Support costs Governance costs 2023 Rent & water rates Insurance Heat & light Repairs & maintenance Computer expenses Sundry expenses Bank charges & interest Telephone Printing, stationery & postage 28,000 4,405 1,270 1,095 20,741 5,395 91 13,565 28,000 4,405 1,270 1,095 20,741 5,395 91 13,565 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 1,474 1,474 5,577 5,577 Legal and professional 5.320 5,320 3,839 3,839 76,036 5,320 81,356 71,597 3,839 75,436 Analysed between Charitable activities 76,036 5,320 81,356 71,597 3,839 75,436 Trustees None of the trustees (or any persons connected wilh Ihem) received any remuneration or benefits from the charity during Ihe year. Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number 22 22 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 384,314 27,742 11,648 486,495 35,447 12,749 423,704 534,691 There are no employees whose annual remuneration was greater than £60,000. 16-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Tanglble fixed assets Fixtures and fittlngs Cost At 1 April 2023 Additions 129,287 1,957 At 31 March 2024 131,244 Depreclatlon and impairment At 1 April 2023 Depreciation charged in the year 111,691 5,296 At 31 March 2024 116,987 Carrying amount At 31 March 2024 14,257 At 31 March 2023 17,596 10 Debtors 2024 2023 Amounts falling due wlthln one year: Other debtors 10,543 27,775 11 Loans and overdrafts 2024 2023 Other loans 53,774 57,000 Payable within one year 53,774 57,000 12 Credltors: amounts falling due wlthln one year 2024 2023 Borrowings Other taxation and social security Accruals and deferred income 53,774 7,516 21,539 57,000 7,019 3,360 82,829 67,379 17-
MID & EAST ANTRIM COMMUNITY ADVICE SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Analysis of net assets between funds Unrestrlcted Restricted funds funds 2024 2024 Total Unrestricted Restricled funds funds 2023 2023 Tolal 2024 2023 Fund balances at 31 March 2024 are represented by.. Tangible assets Current assetsllliabilities) 14,257 (40,183) 14,257 (54,010) 17,596 (37,770) 17,596 (28,028) <13,827) 9,742 (25,926) (13,827) (39,7531 {20,174) 9,742 (10,432) 18-