South East Fermanagh Foundation Statement of Financial Activities for the year ended 31 March 2024 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 INCOMING RESOURCES Donations Grants Released Bank Interest Charity Shop Sales Insurance Claim HM Revenue & Customs- Gift Aid 95,811 3,963 15,566 99,774 15,566 284 43,321 79,269 17,444 321 34,924 5,498 2,063 284 43,321 9,277 9,277 Activlties in furtherance of the organlsations objectlves: Grants 666 1,553,584 1,554,250 1,599,917 Total IncomSng Resources 149,359 1,573,113 1,722,472 1,739,436 RESOURCES EXPENDED Administration expenses Net Incomel(Expenditure) forthe year 97,248 1,562,184 1,659,431 1,695,784 52,112 10,930 63,041 43,652 Transfers between funds Net Incomel(Expendlture) forthe year 52,112 10,930 63,041 43,652 Transfers inlloull of Reserves Reconclliatlon of Funds Total funds brought forward 213,622 118,376} 195,246 151,594 Total Funds to Carry Forward 265,734 17,4471 258,287 195,246 All amounts above relate lo continuing operations of the charity. The charity has no rogniSed gains or losses other ihan those included in the results above and therefore no separate statement of total recognised gains and losses has been presented.
South East Fermanagh Foundation Statement of Financial Position as at 31 March 2024 Employment of Capital Notes Unrestricted Restricted Funds Funds 2024 2024 Tolal Funds 2024 Tolal Funds 2023 Flxed Assets Tangible Assets 6,681 63,781 70,462 80,294 Current Assets Debtors and Prepayments Cash at Bank and in Hand 716 235,058 716 391,746 18,572 245,654 156,688 Current Llabllltles Creditors.. Amounts due within one year 153,007 153,007 88,075 Net Current Assets 235,774 3,681 239,455 176,151 Total Assels Less Current Llabllltles 242,455 67,462 309,917 256,445 Provlslons for Llabllltles and Charges Deferred Income - Capital Granls 151,6301 (51,630) (61,199) Net Assets 242,455 15,832 258,287 195,246 Funds Unrestricted Funds Restricted Funds 265,734 (7,447) 258,287 213,622 {18,376} 195,246 The financial statements were apwoved by the Directors and authorised for issue on 23 October 2024 and signed on their behalf. Mr E Brown Dlrector Date 10 Mrs S Halre Dlrector Date The noles on pages 32- 36 form part of these accounts.
South East Fermanagh Foundation Notes to the financial statements for the year ended 31 March 2024 Principal accounting policies The financial slalemenls have been prepared in accordan with applicable Arxounling 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 accoTdance with Accountin9 and Reporting by Charrties.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 102} (effective 1 January 20151 Icharilies SORP {FRS 1021}, the Financial Re[rtIng Standard applicable in the UK and Republic of ITeland IFRS 1021 and the Companies Act 2006. South East Feimanagh Foundation meets the definition of a public benefit enlily under FRS 102. Assets and liabililies are initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy. Reconclliation with previous Generally Accepted Accountlng 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. Having considered the key accounting policies il was determined that the prior year figures were not materially impacted. As such, no reslalemenl of comparative figures was required. Incoming r•sourc$ Voluntary income or capital is included in the Statement of Financial Activities when the charity is legally enlilled lo it, its financial value can be quantified with reasonable certainly and there is reasonable certainly of its ultimate receipt. Enlillemenl lo legacies is considered established when the charity has been notified of a distribution lo be made by the executors. Income received in advance of due performance under a contract 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 inc¢yne is accounted for on an accrual basis. Resources EXnded All resources expended are COUnted for on an accrual basN8. Charitable activities include costs of services and grants, support eosls and depreciation on related assets. Costs of 9eneraling funds similarly include fundraising aclivilies. Non - staff costs not allribuled lo one category of acliwly are allocated or apportioned pr¢>rala lo the staffing of the relevant service. Finanee, HR, and adminislralive staff costs are directly attributable lo individual activities by objective. Governance costs are those associated with conslilulional and slalulory requirements. Restricted Funds Restricted funds are accounted for in accordance Mlh the particular terms of INSI arising from the express or implied wishes of the donor5 in so far as these are intended lo be binding on the c)aiity. Where such wishes are not intended lo be binding, they are taken into account and recognised in appropriately designated funds. UnrestrScted Free Reserves Free Reserves represent amount which are expendable al 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 Ofder lo finan working capital or capital expenditure.
South East Fermanagh Foundation Tangible fixed assets Depreciation is calculated so as lo write off the cost of langitle fixed assets less their eslimaled residual values, over the expected useful economic lives of the assets concemed. The principal annual r8les and bases used for this purpose are.. Polylunnels Planl and machinery Fencing and equipment 25 Slraighl Line Basis Reducing Balance Basis Slraighl Line Basis 25 10 Government 9rant$ Grants that relate lo specific capital exndIture are trealed as deferred income, which is then credited lo the profil and loss account over the related asset's useful life. Revenije grants are credited lo the profil and loss account in the same period as the related exFendilure is incuried. 2. Auditor and Indepondent Examlner Payments 2024 2023 Auditors Remuneration - audit of the financial slalements 2,100 1,900 3. Staff Costs 2024 Numbor 2023 Number Employee Numbers 41 41 40 40 2024 2023 Staff costs (for the above persons).. Wages and salaries Social Security Pension Contribub'ons 856,918 78,756 49,028 984,702 789,699 75,075 44,080 737,661 No employee received remuneration of more than £60,000 in either year.
South East Fermanagh Foundation 4. Tangible Fixed Assets Plant and machinery Fencing and Computer equipment equipment Total Cost Al 1 April 2023 Additr'ons Disposals Al 31 March 2024 95,516 469 39,362 47,307 10,127 182,185 10,596 95,985 39,362 57,434 192,781 Deprèciation Al1 April 2023 Charge Disposals Al 31 March 2024 68,623 6,840 16,653 3,383 16,615 10,205 101,891 20,428 75,463 20,036 26,820 122,319 Not Book Value At 31 March 2024 20,522 19,326 30,614 70,462 Al 31 March 2023 26,893 22,709 30,692 80,294 5. Deblors 2024 2023 Funding Grants Sundry Debtors VAT 16,751 1,821 239 477 716 18,572 6. Creditors: amounts falling due within one year Sundry Credltors and Accruals 2024 2023 Trade Creditors Accruals and deferred income 123,655 29,352 153,007 88,075 88,075
South East Fermanagh Foundation 7. Deferred income 2024 2023 Capital Grants At1 April 2023 Received and Receivable 61,199 5,997 67,196 {15,566} 51,630 55,587 23,056 78,643 117,4441 61,199 Released in year As al 31 March 2024 8, Taxation 2024 2023 United Kingdom ¢poratIOn lax at19% Current 9. Movement in Funds At the Mov•m•nt 0110412023 In Funds Transf• Inlloutl Transfern In Funds At the 3110312024 Unre$tri¢ted Funds General Funds 213,622 52,112 265,734 R•strict•d Funds Restricted 118,3761 10,930 17,447) Total Fund$ 195,246 63,041 258.287