South East Fermanagh Foundation Statement of Financial Activities for the year ended 31 March 2023 Unrestricted Funds 2023 Restricted Funds 2023 Total Funds 2023 Total Funds 2022 INCOMING RESOURCES Donations Grants Released Bank Interest Charity Shop Sales Insurance Claim HM Revenue & Customs- Gift Aid 79,269 79,269 17,444 321 34,924 5,498 2,063 41,207 17,986 385 17,444 321 34,924 5,498 2,063 Activities in furtherance of the organisations objectives: Granls 1,599,917 1,599,917 1,257,056 Totsl Incoming Resources 122,075 1,617,361 1,739,436 1,316,634 RESOURCES EXPENDED Administration expenses Net Incomel(Expenditure) for the year 63,609 1,632,175 1,695,784 43,652 1,284,965 58,466 114,814) 31,669 Transfers between funds Net Incomel(Expenditure) for the year 58,466 114,814) 43,652 31,669 Transfers inl(out) of Reserves Reconciliation of Funds Total funds brought forward 155,156 (3,562) 151,594 119,925 Totsl Funds to Carry Forward 213,622 18,376) 195,246 151,594 All amounts above relate to continuing operations of the charity. The charity has no r6rognised gains or losses other than those included in the results above and therefore no separae statement of total reccynised gains and losses has been presented. 26
South East Fermanagh Foundation Statement of Financial Position as at 31 March 2023 Employment of Capital Notes Unrestricted Restricted Funds Funds 2023 2023 Total Funds 2023 Total Funds 2022 Fixed Assets Tangible Assets 4,310 75,984 80,294 79,817 Current Assets Debtors and Prepayments Cash at Bank and in Hand 1,821 89,137 16,751 156,517 18,572 245,654 148,205 Current Liabilities Creditors.. Amounts due within one year 88,075 88,075 20,841 Net Current Assets 90,958 85,193 176,151 127,364 Total Assets Less Current Liabilities 95,268 161,177 256,445 207,181 Provisions for Liabilities and Charges Deferred Income - Capital Grants 161,199) (61,199) 155,587) Net Asset3 95,268 99,978 195,246 151,594 Funds Unrestricted Funds Restricted Funds 213,622 {18,376} 195,246 155,156 (3,562) 151,594 The financial statements were approved by the Directors and aulhorised for issue on 22 November 2023 and signed on their behalf. Mr E Brown Director Date Mrs S Haire Director Date The notes on pages 22- 26 form part ol these a¢¢ounls. 27
South East Fermanagh Foundation Notes to the financial statements for the year ended 31 March 2023 1. Principal accounting policies The financial statements have been prepared in accordance with applicable Accounting Standards. A summary of the more important accounting policies is sel out below. Basis of preparation of financial statements The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charrties., Stalemenl af Recommended Practice applicable 10 charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151 {Charilies SORP IFRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. South East Fermanagh Foundation meets the definition of a public benefit eniily under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy, Reconciliation with previous Generally Accepted Accounting Practice In preparing these accounts. the Directors have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the reslalemenl of comparative items was required. aving considered the key accounting policies il was determined thai the prior year figures were not materially impacted. As such, no reslalemenl of comparative figures was required. Incomlng resources Voluntary income or capital is included in the Slalemenl of Financial Activities when the charity is legally enlilled to it, ils financial value can be quantified with reasonable certainly and there is reasonable ceriairnly of ils ultimate receipt. Enlillemenl lo legacies is considered established when the charity has been notified of a distribution 10 be made by the executors. Income received in advance of due performance under a conlr&l is accounted for as deferred income until earned. Grants for activities are recognised as income when the related conditions for legal enlillemenl have been mel. All other incorne is accounted for on an accrual basis. Resources Expended All resources expended are CoUnted for on an accrual basis. Charitable activities include costs of services and grants, support costs and depreciation on related assets. Costs of generating funds similarly include fundraising aclivilies. Non - staff costs not aiiribuied lo one category of activity are albcaled or apportioned pro-rala lo the staffing of the relevant service. Finance, HR, and adminislraiive staff costs are directly attributable to individual activities by objective. Governance costs are those associated with Conslilutional and slalulory requirements. Restricted Funds Reslricled funds are accounted for in CordanCe with the particular terms of trust arising from the express or implied wishes of the donors in so far as these are intended lo be binding on the charity. Where such wishes are not intended lo be binding, they are taken into account and recognised in appropriately designated funds, Unrestricted Free Reserves Free Reserves represent amount which are expendable ai the discretion of the trustees in furtherance of the objectives of the charity and which have not been designated for any other purpose. Such funds may be held in order to finance working capital or capital expenditure. 28
South East Fermanagh Foundation Tangible fixed assets Depreciation is calculated so as to write off the cost of tangible fixed assets less their estimated residual values, over the expected useful economic lives of the assets concerned. The principal annual rates and base5 used for this purpose are.. Polytunnels Plant and machinery Fencing and equipment 25 Straight Line Basis Reducing Balance Basis Slraighl Line Basis 25 10 Government grants Grants that relate to specrfic capital expenditure are Irealed as deferred income, whh is then CTediled lo the profil and loss account over the related asset's useful life. Revenue grants are credited lo the profil and loss account in the same period as the related expenditure is incurred. 2. Auditor and Independent Examiner Payments 2023 2022 Auditors Remuneration - audit of the financi21 statements 600 600 3. Staff Costs 2023 Number 2022 Number Employee Numbe 40 40 36 36 2023 2022 Staff costs (for the above persons) Wages and salaries Social Security Pension Contributions 789,699 75,075 44,080 908,854 633,394 68,556 35,711 737,661 No employee received remuneration of more than £60,000 in either year. 29
South East Fermanagh Foundation 4. Tangible Fixed Assets Plant and machinery Fencing and Computer equipment equipment Total Cost Al 1 April 2022 Additions Disposals At 31 March 2023 95,516 39,362 24,251 23,056 159,129 23,056 95,516 39,362 47,307 182,185 Depreciation Al 1 Apnl 2022 Charge Disposals At 31 March 2023 59,660 8,963 13,270 3,383 6,382 10,233 79,312 22,579 68,623 16.653 16,615 101,891 Net Book Value At 31 March 2023 26,893 22,709 30,692 80,294 Al 31 March 2022 35,856 26,092 17,869 79,817 5. Debtors 2023 2022 Funding Grants Sundry Debtors 16,751 1,821 18,572 6. Creditors; amounts falling due within one year Sundry Creditors and Accruals 2023 2022 Bank overdraft Accruals and deferred income 6,818 14,023 20,841 88,075 88,075 30
South East Fermanagh Foundation 7. Deferred income 2023 2022 Capital Grants Al1 April 2022 Received and Receivable 55,587 23,056 78,643 {17,444) 61,199 73,573 73,573 (17,9861 55,587 Released in year As ai 31 March 2023 8. Taxation 2023 2022 United Kingdom corporation tax at190/ Current 9. Movement in Funds At the Movement 0110412022 In Funds Transfers I{OUt) Transfers In Fundj At the 3110312023 Unrestricted Funds General Funds 155,156 58,466 213,622 Restrfcted Funds Reslricled 13,5621 114,8141 (18,376) Total Funds 151,594 43,652 195,246 31
South East Fermanagh Foundation 10. Net Movement in Funds, included in the above are follows: Incoming Resources Resources Expended Movement in Funds Unrestrlcted Funds General Fund 122,075 163,609) 58,466 Restricted Funds Reslricled 1,617,361 11,632,175) 114,814) Total Funds 1,739,436 (1,695,784) 43,652 11. Trustees, Remuneration and Benefits There were no Trustee's remuneration, benefits or loans made during the year ended 31 March 2021. One or more of the Trustees have been reimbursed for approved expenses incurred in connection with the Charity as detailed below.. 2023 2022 Total Amount Paid Number ofTruslees Reimbursed All of the above payments relate lo the reimbursement of travel costs in order lo carry out the chaiily's obieciives. 12. Contingent Liabilities A portion of Grants received may become repayable rf the company fails lo comply with the terms of ils letters of offer. 32
South East Fermanagh Foundation The following pages do not fomi part of the statutory accounts Detailed Statement of Financial Activities for the year ended 31 March 2023 Unrestricted Funds 2023 Restrlcted Funds 2023 Total Funds 2023 Total Funds 2022 INCOMING RESOURCES VSS Grants Donations l Event Contributions Ulster Scots Agency Small Grants Peace IV Grants Central Good Relations Grants Membership Monies Charity Shop Sales Community Foundation Grants Insurance Claim HM Revenue & Customs. Gift Aid Bank Interest Receivable 966,989 966,989 64,552 6,506 9,398 606,380 5,680 14,717 34,924 4,964 5,498 2,063 321 1,599,917 1,721,992 17,444 17,444 TT75 7fsor 1,739,436 17, 571,986 31,832 4,355 9,050 634,607 33,058 9,375 64,552 6,506 9,398 606,380 5,680 14,717 34 924 4,964 4,000 5,498 2,063 321 122,075 385 1,298,648 Grants Released 17,986 Total Incoming Resources 33
South East Fermanagh Foundation Unrestricted Funds 2023 Restricted Funds 2023 Total Funds 2023 Total Funds 2022 EXPENSES Wages and salaries Pension contributions Staff Training Project costs Rent Insurance Light and heal Walei rates Cleaning Repairs and maintenanGe Piinling, postage and siaiionary Advertising Telephone Computer expenses Travelling Professional fees Accountancy Audit Leasing Bank interest and charges General expenses Donations Subscriptions Depreciation on plant and machinery Depreciation on Computer Equipment Depreciation of fencing and equipment Total Expenses Net {Expenditurelllncome for the year 859,174 43,370 1,751 510,308 27,286 2,841 10,906 323 859,174 43,370 1,751 517,845 34,764 2,841 13,006 533 2,320 10,606 12,904 30,373 12,904 7,061 100,835 3,369 5,096 600 5,533 1,503 3,676 2,187 954 8,983 10,233 3,383 {1,695,784) 701,950 35,711 7,537 7,478 368,084 32,535 1,894 8,409 2,100 210 2,320 10,606 12,904 1,932 1,335 7,626 5,591 32,200 5,591 14,323 34,855 28,441 12,904 7,061 91,942 8,893 3,369 5,096 3,070 600 5,994 289 2,057 425 582 11,952 5,956 3,936 11,284,965) 31,669 600 5,533 979 3,121 524 555 2,187 954 1,200 240 7,763 9,993 3,383 11,632,175) 163,6091 58,466 114,814) 43,652 34