KILCREGGAN HOMES (A company Ilmited by guarantee) REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Kilcreggan Homes Company Registration No. N117976
KILCREGGAN HOMES FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 CONTENTS PAGES Officei's and professional advisers Board of Dii"ectois report 2to7 Auditoi's, J'epoit 8109 Statement of financial activities 10 Balance sheet Statement of cashflows 12 Notes to the financial stateinents 13 to 18
KILCREGGAN HOMES OFFICERS AND PROFESSIONAL ADVISERS BOARD OF DIRECTORS S Mai'lin (Chair) J Gillespie (Vice Chair & Hon Seci'elary) E Spence (Ti'easui'er) A Campbell N Walker Bennett O Donnelly SECRETARY G Zebedee REGISTERED OFFICE Kilci'eggan Honies Elizabeth Avenue Cari-ickfei-gus BT38 7UY AUDITORS Toner Mc Dowell The Mount 2 Woodstock Liiik Belfast BT6 8DD BANKERS Danske Bank Ltd 12 Edwai"d Road Whitehead SOLICITORS JW McNinch & Son 19 Joymoiint Cari'ickfei'gus BT38 7DN
KILCREGGAN HOMES BOARD OF DIRECTORS REPORT YEAR ENDED 31 MARCH 2024 The B0-d of Dii'ectoi's present their repoit and the Financial statements foi. the yeai- ended 31 Mai'ch 2024. CONSTITUTION Kilci'eggan Homes Lid is a company limited by guaranlee, governed by the Menioi'andum and Ai-licles of Associalion. PRINCIPAL ACTIVITIE4 S AND OBJECTS Kilcreggan Homes LLd is a voluntary organisation wliich promotes the social inclusion of adults with diagnosed developmental and acquii-ed disabilities in Noi'tbei'n Ireland by the pi-ovision of suppoi'ted living, provision or assistiiig in the pi-ovision of work-based leai-ning, vocaLional opporlunilies, social enleiyrises, suppoi-led employment & i'eci'eational activities. The oi'ganisation is i'egisLered wilh the Chai'ities Commission, i-egisti'ation numbei- NICI 00613. Kilcreggan Honies has successful inspeccions from Ilie Regulation Quality Iiispection Authoi-ity (RQIA) and Supporting People (Northern h'eland Housing Executive). SUPPORTING PE4 OPLE The conti'acl is lo provide accommodation to 17 tenancs. We 'e in continual deficit of funding conli'acted fi-om Suppoi-ling People. Theie al'e a nuinber of reasons foi. this deficit, There has been no genuine increase in, nor inflationai-y inci-eases in funding from 2008 aW"ded by the Suppoi'ting People pi'ogramme. A 510 Cut to the sector on 151 Api'il 2018. The 5.2i70 cut was i'etuii)ed in 2021 bi'inging the fllndiiig back to the level il was in 2008. meanwhile thei-e has been significanc pi'essures fi'om the implementation of the inci'ease in the minimuni wage and the surge in cosls in electricity, gas, and general increase in costs. Therefoi-e, by today's accounting figures. this means we operating a progi'amme that has significantly reduced funding fi'om 2008, whilst being expected to delivei. the same outcomes. Kilcreggan Homes have been in discussions with the Noi'thei'n HSC Trust to identify possible funding options to address this deficit that will contiiiue lo increase, due lo no sign of any uplifts fi'om the Housing Executive. ON GOING DE4VELOPMENT Kilcreggan Homes continues to pi'ovide additional accominodalion & services to people with diagnosed developmeiital and acquii-ed disabilities in pai-lnei-ship with The Noi-lhern Health & Social Sei'vices Ti'iist, Belfast Health & Social c'e Trust and The South Eastei'n Health & Social Care Tiust. The pi'ivalely puichased and built accommodation compliments tlie cui-rent housing stock that is pi'ovided iii partiiership with Clioice Housing Association that is funded by the Housing Executive's 'suppoi-ting people, programme. This stialegy has pi-oved a coriiei. stone in ensuring the finaiicial sustainability and gi-owth of Kklcreggan Homes. It is iniportant lo iiote that i'equests foi. this type of accommodation and suppoi't & care by the Noi'thern HSC Tiusc and Belfast HSC Ti-ust well out strip what we can currencly provide. We are i-ecognised as providing an excellent sei-vice and are developiiig a ieputation in liousing support Foi- people with Autisin by our pai-lnei's in Health & Social C'e. It, s anticipated that we will pui'chase fui'thei. pi-opei'lies in che iiext twelve months pei-iod.
KILCREGGAN HOMES BOARD OF DIRECTORS REPORT YEAR ENDED 31 MARCH 2024 It must be noted that reciwiting staff has become mol'e difficult, but parliculai-ly the past two years. To eiisui-e Kilcreggan Hoiiies can soui-Le the staff requii'ed to delivei. our sei'vices we have applied to the Home Office to acquire sponsoi'ship foi employing foi-eign nalioiials. It is envisaged that Iliis method of recii]iting staff will continue. The unernploymeiil rate in Northei'n Ireland fell to 1.810 this year. A business case in partnersliip with the Northern & Belfast HSC Tst and Choice Housing AssoLiation had to be submitted to Supporting People in Septembei. 2023 foi- Capital and Revenue funding fol 6 bungalows and a ti'aining unit for staff. We al-e waiting for an official respoiise for Supporting people and hope that with (he resloi'alioii of the N.1. Executive fuiiding foi- these capital developmeiils will be secui'ed. In i-esponse lo an expi-ession of intei'est i-equest fron] tlie Noi'thern Health & Social Trust foi. a specialist i'espite service to cater for the twenly-four families who have a sonldaughter who have challenging behaviours, our offei. to pui-chase 5 aci'es at 6 Tullaghgoie Road, Ballymoney has been accepted aiid is curi'ently being processed by McNincli & Sons solicitors on oui- belialf. This will requii-e significant iiiveslmenl to up grade to the standai'd. We Iiave Cai-ol Goui-ley, planiiiiig consultanl woi'king on oui. behalf to pi'ogress the plans. We al'e also iii the pi'ocess of having the project i-egistered by RQIA under Residential Scandw-ds. We also pui'chased 37 Bui'nlhill Gardens, Newtownabbey following a i'equest froTn Belfast HSC Ti-ust to place a iiew tenant i-equiiiiig 2..1 support. Its anticipated tliis will be occupied in the iiexl two months. Following a piolonged period of wet weatlier, where the site at the Ecos centre was pai'ticulai'ly wet, we withdi'ew froin the process lo take ownership of the site. Pi'operlies we cui'i-ently own al'e.. Numbei" 55 & 60 Barn Road, Cari'ickfergus Nurnbei" I Charles Legg Di'ive Number 22 & 24 Elizabeth Avenue Number 8 & 12 Gianville Di-ive Number 15,16 & 17 KilcTeggan Fai'in Buildiiig I Fai-m building 2 59A Castledawson Road, Magherafelt 6 Tullaghgoi'e Road, Ballymoney 37 Bui'nthill, Newtownabbey CARRICKFERGUS URBAN FARM & GARDEN CENTRE The Faim pi-ovides day oppoitunities and volunleei-ing oppoi'tunities to Kilci-eggaii Homes tenants aiid coiitinues to develop its poteiitial to offei. this service to clients who reside in the community and pui-chase day opportuiiity placemeiits through a direct payment. The gai-den centi'e has now Cwo full-lime qualified hoiticulturalists alongside a number of volunteei-s. We continue to iiici-ease OUL. sales aiid l-ange of stock. Oui. lead horticulturalist left for a iiew cai'eei. oppoi'tunity, and we iecruited a replacement horticultui-alist.
KILCREGGAN HOMES BOARD OF DIRECTORS REPORT YEAR ENDED 31 MARCH 2024 THE DANCING GOAT CAFÉ The cafe sales reduced this year, the CIEnd of lowei. footfall due to the cost of living, coupled with increased costs in food, electi-icity, gas and water alongside increases lo the Iiational minimun] wage have taken its toll. Tlie existing managei. left foi. anothei- positioii, and we have i'ecruited a new anagei- who comes with a lot of experience in customer care and social Inedia exposui-e St-ti11g in Mai'cli. DROP IN CENTRES The Drop In Centi-es coiitinue to pi-ovide services in Cai-i'ickfei'gus and Lai-ne, in pai'liiership wiih the Norihei-n Health & Social Sei'vices Tivst. MID ULSTER SANCTUARY This is a partiiership wi(li Ilie Northern Health & Social Sei'vices Trust to offer day opportunities to service users who have been usiiig traditional building-based services and are displaying challenging behavioui-s or have been unable to access traditional day sei'vices. The seivice continues to inci-ease its daily numbers and with Ilie introduction of AM & PM sessions it is anticipated thal each day will have a capacity of 20 spaces. We had a planning application to inci-ease the space in the communal building approved by Mid Ulster Council. TRAINING Scaff tiaining is key to developing the skills of oui. team, it conti-ibules to the skills and knowledge base of oui- staff ai)d enables the orgaiiisation to liave a confident, competent workfoi-ce who feel equipped to undei-lake Ilie demands of theii. role. Staff liave been motivated to develop and have undeitaken a bi'oad range of academic and vocational qualifications alongside CPD coui'ses aiid activities in this pei-iod. Our Complex Needs Officer, has entered her final year of Mastei's in Autism at QUB and has completed reseai'ch specifically into Suppoi'ted Living foi- Autistic Adults in Nl. slaff al'e due to undertake NVQ level 3 as p-t of the 'all age appi'enticesliip programme" commencing September 24, no NVQ qualifications wei-e undertaken iii the period 23-24. n addition to the maiidatory training, staff al-e iEqUlI'ed to complete in safegU.ding and Health and Safety, Kilcreggan Honies sl1¢ ff have used exteL'nal pi-oviders ARC NI, Medi Cal'e Studio 3 and the TtLLI gi'oup lo complete a variety of coui'ses including - Low Arousal Appi'oach Training, Human Rights, Fi'ontline Management Ti'aining, Mental Health aiid Learning Disability, MCA DOLS, Dysphagia, Loss and Bei'eaveinenc, Building Resilient teams, Pei'son Centred Pi'actices , Supei'vision, Medication Managemeiit, Reflective Pi'actice, Qiiality Iinprovemenl and inli'oduction to LD. One staff meinbei. has commenced a BSL coui'se aiid 3 al-e due lo commence a 15-week IT and computer skills programme with the local community foium and NRC.
KILCREGGAN HOMES BOARD OF DIRECTORS REPORT YEAR ENDED 31 MARCH 2024 In house training, Kilci-eggan Homes have developed ti-ainiiig i-esoEiices bespoke to the needs of our tenants who Tequire intensive suppoi'c with focus on the individual's pi-esenlation and how staff can best meel theii needs. Safety Intervention (MAPA), Ci-isis Intei'veiition, Safeguarding Level 2 and 3, Fi'ontline Management, Maintaining Professional Boundaries, Aiilisin and Medication management C<in be delivered while pi-actice meetings are designed Co enhance knowledge aiid skills ai'ound behavioui., iindei-slaiiding and responding to behavioui's of concei-n. Thei'e is a wide i'aiige of additional li-aining, beyond the statutoi-y requii'ements, provided to staff to eiiable them to develop and deliver quality suppoTL to our tenants with Human Rights embedded througlioul all leaii)ing opportunities. Senior Inanagement are involved li) sevei'al activities (hat pi-omote Iheii. continued professional developmenc i-epi'esentiiig K51ci-eggan at Regional Level within the sectoi- in pai-lnership with ARC NI and attend a vai'iety of woi'ksti-eams aiid subgroups. Kilci'eggan HoTnes i'emains cominitted to building capacity within oui. woi'kforce to deliver quality sei'vices to out. teiiants and service usei's through soui'cing, delivei'ing and developiiig ti-aining appi'opi'iate to the requiirmenls of the staff and sei'vice usei-s. INVESTMENT We ti"ansferred the mortgages we had with Danske Bank Ltd to Community Finance Th'eland due to PLoviding a compelitive iiiterest l'ate for registei-ed charities. Oui- financial advisoi., S.R.G. Ltd, continues to be engaged through the year to ensui'e coi'porate governance in i'elation to the i-eserves and to ensure the monies invested would maintain capital presei-vation. We have had a sui'plus Iliis yeai. This is to oui. ci'edit at a tinie where we implemented oi-ganisational pay i-ises in very difficuli times for Chai-ities. RESULTS The opei-ational surplus foi- (he year was £82,065 compared with an opei'ational surplus of £225,521 for the previous year. BOARD OF DIRECTORS The niembei-s of Ihe Committee of Management are the Ti'ustees of the charity and dii-ectors of tlie company for the pui'poses of the Companies Act 2006. B Bennett, A Campbell, E Spence, N Walker, S Mai'tin, J Gillespie and O Donnelly served dui'ing the yeai.. None of the dii-ectoi's liad any material iiilei-est in contracts with the company. ORGANISATIONAL STRUCTURE Day to day decision making is uiider the supervision of the Managei- with i-egiilai- J'eporting to Ihe Finance Committee. Decisions on sti-ategy, policy and malei-ial capital expeiidituie al'e taken by the full Boai-d. Kilci'eggan Homes i'eslructui'ed this year and based on pi'ojected developments appointed an assistant managei.. STATEMENT OF BOARD OF DIRECTORS, RESPONSIBILITIES The Boai-d of Dii-ectoi-s are L'espoiisible foi. pi-epai'ing the Committee of Management i'epoi't aiid the financial slatemenls in accordance with applicable law aiid UnACed Kiiigdom Accounting Standards (Uniced Kingdom Genei-ally Accepted Accountiiig Practice).
KILCREGGAN HOMES BOARD OF DIRECTORS REPORT YEAR ENDED 31 MARCH 2024 Company law i'equii'es the Board of Directors to pi-epare financial stalenients for each fin1( iicial yeai. which give a true and fair view of the stale of the affaii'.s of the chai'ilable compaiiy as at the balaiice sheet date and of its incoming resoui-ces and application of i'esoui-ces, iiicluding income and expenditui'e, foi. tlie financial yeai-. Iii preparing those finaiicial statements, the Board of Dii'ecloi-s 'e required to: select suitable accounting policies and then apply them consistently., obseive the methods and principles in the Chai'ities SORP. make judgements and estiniates that -e i-easonable and pi-udent. state whethej. applicable UK Accountiiig Standards have been followed subject to any matei'ial depcll'tui'es disclosed and explained in the financial slalements. aiid prepare the financial statements on the going coiicern basis unless it is not appropi'iate to assume that the oi'ganisation will coiitiiiue on that basis. The Boaid of Diiectoi's is responsible foi. maintaining propel. accounting ircords that disclose with I'easonable accuracy at any titne the financial position of the chai-itable company and to enable them to ensure that the financial statements comply with the Companies Aci 2006. The Boai'd of Directoi-s is also responsible foi. safeguarding the assets of the chai'itable company and hence foi. taking reasonable steps foi- the prevention and deteclAon of fi'aud aiid other iri'egularities. In so far as the Board of Directors is aware there is no relevant audit infoi'malion of which the charitable company, s auditoi's is unaware, the Board of Directors have taken all steps that they ought to have taken to make themselves awai'e of any audit information and to establish that the auditoi- is awai'e of that infoi-rnation. RESERVES POLICY It is the Committee of Management's policy to try to build iEsei-ves to a level equivalent to at least tlij'ee to six months expenditui'e in oi-dei. to a) allow new pi'ojects to conimence once statutoiy funding has beeii agi'eed, b} covei- short tei-m fluctuations in genei-al funding and c) allow ali oi'dei-ly indOWn of any pi'oject element should funding become unavailable in the futuie. RISK STRATEGY Futui'e plaiiiiing and fundiiig i-equii'emenls are kept undei- i-egulai. review. AUDITORS A i-esoliition to i'eappoint Toner McDowell Ch'teI-ed Accountants will be proposed at the aniiual general meeting.
KILCREGGAN HOMES BOARD OF DIRECTORS REPORT YEAR ENDED 31 MARCH 2024 SMALL COMPANY EI XEMPTIONS This repoi-t lias been pI-ep-ed iii accoi'dance with the special provisions of Pari 15 of the Compaiiies Act 2006 I'elating Lo sniall companies. Oli behalf of the boai'd Mr E Spence Ti'easui-er 26 September 2024
KILCREGGAN HOMES INDEPENDENT AUDITORS, REPORT TO THE MEMBERS PERIOD ENDED 31 MARCH 2024 We have audited Ihe financial staternents of Kilci'eggan Homes Ltd for the yeai. ended 31 Mai-cli 2024 which comprises the Statement of FiiianLial Activities incolpoi'ating (lie Incoiiie and Expenditui'e Account, the Balance Sheet and the i'elaled notes. These fiiiaiicial statements have been prepai-ed undei. the accounting policies set out therein. This report is made solely to the orgaiii8ation.s members, as a body, in accoi'dance with Section 65(2) of the Cl]-It]eS Act (Northern li-eland) 2008. Oui. audit woi-k has been uiidertaken so that we might state to the organisation's menibers those mallers we al-e requiiEd to state to them in an auditoi-'s repoi-l and Foi- no olhei- puipose. To the fullest extent pei-mitted by law, we do not accept oi. assume i'espoiisibklity to anyone other Ihaii the chw-ity and the charity's membei-s as a body, for oui. audit woi-k, foj. this i-eport, or foi the opinions we have formed. RESPECTIVE RESPONSIBILITIES OF THE BOARD OF DIRECTORS AND THE AUDITOR As explained more fully in the Board of Dii-eclors Responsibilities Statement, the charity's BO.d of Diiectoi's is i'esponsible foi- the prepai-ation of the findncial staLemenls in accoi'daiice with applicable law and United Kingdom Accouiitiiig Staiidai-ds (United Kingdom Generally Accepted Accounting Pi'aclice ajid the Statemeiit of Recommended Practice: Accounting and Reporting by charities (Cliai'ities SORP), and foi- beiiig Siltisfied that they give a tLue and fair view. IC is our respoiisibility to audit and expi'ess an opinion on (he fiiiancial statements in accordance with i'elevani legal and i'egulatoiy requiremenls and InternaLional Stand-ds on Auditing (UK and Irelaiid). Those standards requii-e us to coInply with the Auditing Pi-actices Board, s (APB'S) Etliical Standai-ds foi. Auditoi's. We repoi't to you oui- opinion as to whethei. che financial slalements give a ti-ue and fail. view and al'e propei-ly pi-ep'ed in accoi-dance with applicable law. We also i-epoi'l to yoii if, in oui. opinion, tlie report of (he Board of Dii'ectoi's is not consislenl with the financial slatemeiits, if the charity has not kept pi'opei- accounting i'ecoi'ds, if we have nol received all the information and explanations we requii'e for oui- audit, oi. if information specified by law i-egw-ding Board of Directoi's, remuneration aiid li'ansaclions with the charity is not disclosed. We read the report of the Boai-d of Directors and considei- the implications for oui. ieport if we become aware of any apparent misstatements within it. SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS An audit involves obtaining evidence about the amounts and disclosures iii the financial statements sufficient lo give reasonable assui'ance that the financial statements al-e fl'ee from matei'ial misstatement, whether caused by fraud or oihei- iriegulai-ity oi. eiroi.. This includes ali assessmenl of- whethei accounting policies are appi-opi-iale to the chai'fftty's CiL'cumstances and have been consisteiitly applied and adequately disclosed; the reasoiiableness of significant accounting estimales made by the Boai'd of Directoi-s. and the ovei'all presentation of the financial slatements. In <iddition, we l-ead all financial and non-financial infoi'malion in the financial statements to identify matei-ial iiiconsistencies with the audited financkal statements. If we become awai'e of any appareiit material misstateinents or inconsistencies we considei- the implications foi- our i-epoi'l.
KILCREGGAN HOMES INDEPENDENT AUDITORS, REPORT TO THE MEMBERS (continued) PERIOD ENDED 31 MARCH 2024 OPINION In oui. opinion the financial statements.. give a true and fail- view, iii accoidance with UK Genei-ally Accepted Accouiiling Pi'aclice and the Statement of Recoiiinieiided Pi'actice.. Aceouiiting aiid Repoi'ting by charities (Cliarities SORP}, of the stale of the chai'ity's affaii-s at 31 March 2024 and of the sui-plus of the charity foi. Ilie pei'iod then ended. have been pi-opei-ly pl-ep'ed in accordance with the reqiiii'eillents of the Chai'ities Act (Northeii] -eland) 2008; and the infoi-lnation given in the Report of Ihe Boai-d of Dii'ectors is coiisistent with the financial statements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothiiig to i'eport in i'espect of the followsng mattel's whei'e the ch'll1eS Act (Noi-lhern Irelaiid) 2008 1-equii.es us to i'epoi'l lo you if, in our opinion.. a satisfaclory system of conti'ol over ti-ansactions has not been Inaint£tined; oi. Ihe coinpany has not kept pi'oper accouiiling i-ecoi'ds. oi. the financial statements al'e not in agi'eemenc with the books of account; or we have not i'eceived all the infoi'mation and explanations we need foi. our audit. The Mouiit 2 Woodstock Link Belfast BT6 8DD Michael P Tonei. FCA (Senioi- Statulory Auditor) Tonei" McDowell Chai'tei'ed Accountants & Registei'ed Auditor
KILCREGGAN HOMES STATEMENT OF FINANCIAL ACTIVITIES (incorporaling an income and expenditure account) YEAR ENDED 31 MARCH 2024 Total Restricted Uni'esti'icted funds funds funds 2024 Total funds 2023 Note INCOME FROM Doiiations Income fi'om cSiaritable activities Othei- income Investment income 1,718,503 104.137 13,755 1,718,503 1,715,655 516,779 501,277 13,755 1.947 412,642 Total income 1,836,395 412,642 2.249,037 2,218,879 EXPENDITURE ON Charitable activities Costs of opei'ation Managing and administering the Lharity 1.789,436 1,901 375,635 2,165,071 1.990,999 1,901 2,359 Total expenditure 1.791,337 375,635 2.166,972 1,993,358 NET INCOMINGI(OUTGOING) RESOURCES FOR THE YEAR 45,058 37,007 82,065 225,521 FUNDS AT I APRIL 2023 955,409 1,165.789 2.121,198 1,895.677 FUNDS AT 31 MARCH 2024 1,000,467 1,202,796 2,203,263 2,121,198 All of the above results dei-ive fi'om continuing activities. The oi-ganisation has no recognised gains and losses ollier than the i-esulis for the pei'iod as set out above. 10
KILCREGGAN HOMES BALANCE SHEET AT 31 MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible assets 1,712,531 1,563,874 CURRENT ASSETS Stock Debtoi-s nvestments Cash at baiik aiid in hand 21,500 251,365 15,000 830,889 21,250 325,426 15,000 755,050 1.118,754 1,116,726 CREDITORS: Amounts falling due within one year (135,497) (126,576) NET CURRENT ASSETS 983,257 990,150 TOTAL ASSETS LESS CURRENT LIABILITIES 2,695,788 2,554,024 CREDITORS: Amounts falling due after one year 10 (492,525) (432,826) NET ASSE4 TS 2,203,263 2,121,198 FUNDS Restricted funds Unresti-icted funds li 12 1,000,467 1.202,796 955,409 1.165,789 TOTAL FUNDS 2,203,263 2,121,198 The financial slatemeiits have been pi'epared in accoi'dance with the special pi'ovisions of Pai't 15 of the Conipanies Act 2006 I'elatiiig to small companies. The finaiicial statements on pages 7 to 16 were approved by the Boai-d of Dii'ectors on 26 Septembei- 2024 and wei-e 5igiied on its behalf by: E Spence Treasurer 26 Sepleniber 2024
KILCREGGAN HOMES STATEMENT OF CASFLOWS YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cashflows from operatiiig aetivities: Net cash used in operating activities 174,536 10,557 Cashflows from investing activities: Intei'est from iiiveslments Capital gi-ants Purchase of langible fixed assels 13,755 1,947 (179,222) (23,468) Net cashflow pi'ovided byl (used in) investing activities 9,069 (10,964) Cashflows from financing aetivities: Loan capital i-epaid New Loan (2,230) (68,992) 69,000 Change in cash and cash equivalents in the period Cash and casli equivalents at start of the period 75,839 755,050 (79,956) 835,006 Cash and cash equivalents at end of the pei'iod 830,889 755,050 NOTE I Reconcilialion of net (expenditure)/income to net cashflow from operating activilies 2024 2023 Net (expendilure)lincorne for the period as per the StatemenÉ of Financial Activities Adjiistmenls for: Depi-eciation cliarges Investment income (Inci'ease)Ideci'ease in debtoi-s Increasel{decrease) in creditors (Increase)/decrease iii stock Inveslineiil account write down 82.065 225,521 30,565 {13,755) 74,061 1.850 (250) 37,709 (1,947) (253,624) 4,348 (1,450) Net cash used in operating activities 174,536 10,557 NOTE 2 Analysis of cash and cash equivalents Bank balances 830,889 755,050 12
KILCREGGAN HOMES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (a) These financial statements have been pi'epared in accoi'dance with FRS 102 "The Financial Repoi-ting Standard applicable in the UK and Republic of h'eland" ("FRS 102") and the i-equii'ements of the Companies Act 2006 as applicable Co companies subject to the small companies i-egime. The fiiiancial statements -e pi'epai'ed in sterling, which is the functional cui'i'ency of the oi'ganisation. Monetaiy amounts iii these financial slalemeiits are i-ounded to the neai'est £. The financial statenients have been prep.ed undei- the hisloi'ical cost convention. The piincipal accounting policies adopted al'e set out below, (b) The Board of Dii-ectoi-s al'e of the view, on the basis of assessment, that the charity is a going concei-n. (e) Income is i'ecognised when the Lhaiity has entiilement to the funds and il is pi'obable that the income will be i-eceived aiid the amount Irliably me1( sured. InLei-est on funds oli deposit is included when i'eceivable and ihe amount can be measui'ed reliably. This is noi-mally upon iiotification of the intei'est paid oi. payable by the bank. (d) Expenditui'e is recognised on an acciuals basis as a liability is incui'i'ed. Expendituie ncludes any VAT which caiinot be fully recovered and is repoited as pai't of the expenditui'e lo which it relates. (e) Stocks are stated at the lowei- of cost or nel realisable value. (D The oi-ganisation opei-ates a defined contiibution scheme, the assets of which are held Sep.atelY fi'om those of the organisalion in an independently adminisLei-ed fuiid. The pension cost chai'ge represents contributions payable to the scheme in the accounting peiiod. (g) Resti'icted funds al'e to be used foi. specific pui'poses as laid dowii by the donor. Expenditui'e which meets these ci'itei'ia is identified to the fund, togethei. with a fail. allocation of ovei-heads and suppoi-l costs. (h) Uni'es11'icted funds -e donatioiis and other income, IEceived or geneiated foi- the objects of che ch-]ly, without fuither specified purpose and -e available as genei'al funds. (R) Rental chai'ges are charged on a sli-aight-line basis in the case of opei-ating leases. (i) The oiganisation operates a defined conti-ibution scheme, the assels of which al'e held sep-aleIY fi'oni those of the oi-ganisation in an independelltly adminiscei-ed fund. Tlie pension cost ch'ge i'epi'esenls coiili-ibiitions payable to the sclieme iii the accouiitiiig period. (k) The cost of tangible fixed assets is their purchase cost, togetheT With any incidental costs of acquisition. DepL'eciation is calculated to wi'ite off the cost of tangible fixed assets on a straight liiie basis. Tlie pi'incipal annual rates used foi. this purpose al-e: Leasehold pi-opej'ty 210 Fixtui'es and fkllings 33 113% Grantslincome i-eceived foi. the pui'chase of fixed assets al'e amoi'tised oveT the useful ecoiioniic life of the assels procured. 13
KILCREGGAN HOMES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 TANGIBLE4 FIXED ASSETS- COST Leasel)old Motoi. 4 Ixtui'es vehicles & fittin ri arm ui Total Cost.. At 31 mai.ch 2023 Additions Disposals 1,989,394 173,576 98,096 5,646 72,676 2.160,166 179,222 At 31 Mai'ch 2024 2,162,970 103,742 72,676 2,339,388 Depreeiation: At 31 mai.ch 2023 Charge foi. the year Eliminated on disposal 446,819 29,980 79,611 585 69,862 596,292 30,565 At 31 mai.ch 2024 476.799 80,196 69,862 626,857 Net book value: At 31 Mai'ch 2024 1,686,171 23,546 2,814 1,712,531 At 31 mai.ch 2023 1,542,575 18,485 2,814 1,563,874 14-
KILCREGGAN HOMES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSETS- CAPITAL INCOME Leaseliold Motor Fixtures Farm ro ert & rittin ui vehicles S Lment Total Capital income: At 31 mai.ch 2023 Additions Disposals 380,535 14,920 60,000 455.455 At 31 mai.ch 2024 380,535 14,920 60,000 455,455 Amortisation: At 31 March 2023 Amoi'tisalioii Eliminated on disposal 90,858 14,920 60,000 165,778 At 31 March 2024 90,858 14,920 60,000 165,778 Net book value: At 31 March 2024 289,677 289,677 Al 31 March 2023 289,677 289,677 NET SURPLUS FOR THE YEAR This is stated aftei- Ch-ging- Depreciation Auditors, remuiiei'alion Pension costs - defined contr'ibution scheme 2024 2023 30,565 1,750 70,112 37,644 1,750 85,264 EMPLOYEES Staff costs dui'ing the Period.. Salaries Nacional iiisurance Employei- peiisioii conti'ibutioiis 1,531,735 119,204 70.112 1,316,722 93,852 61,787 1,721,051 1,472,361 The avei'age numbei. of persons employed during the pei-iod was 53. The Boai'd of Dii'eclors received no i-emuneration. 14-
KILCREGGAN HOMES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 5. INCOME fROM CHARITABLE ACTIVITIES AND OTHIR INCOME Resti'ieted Unrestricted Total 2024 Total 2023 Grants Supporting People 273,395 273,395 259,383 Care service and donations 1,455,108 1,455,108 1,456,272 1,718,503 1,718,503 1,715,655 Housing benefit and other income Iiivestment Inconie 104,137 13,754 412,642 516,779 13.754 501,278 1,947 1,836,395 412,642 2,249,037 2,218,879 6. EXPENDITURE ON CHARITABLE ACTIVITIES Resti'ieted Unrestricted Total 2024 Total 2023 Salaries and natioiial insui'ance Rent Insui'ance Telephoiie Electricity Pension and employei. costs Advei-tising Postage and office supplies Staff ti-aining costs Resideiit development costs Repairs aiid upkeep Motoi. vehicle costs Animals aiid hoi-lieultUL'e Plantinglfeedstuffslmatei'ials Coffee shop coscs Consultants, fees Debt pi'ovision Miscellaneous Depreciation: fixlui'es and fittings land and buildings 1,463,028 52,588 29,222 7,238 7,600 62,887 113 8,775 8,258 68,278 10,397 187,911 1,650,939 1,387,097 52,588 49,298 30,317 28,129 7,439 5,131 23,040 19,899 70,113 85,264 215 899 8,775 7,010 8,368 10,826 68,278 115,642 18,572 17,582 1,095 201 15,440 7,226 102 110 8,175 2,268 94,750 56,868 2,268 94,750 56,868 4,659 825 136,883 56,585 1.407 4,659 22,136 585 29,980 13,692 1.489 23,625 585 29,980 13,692 18,845 1,451 36,193 12,033 Loan inteiESt 1,789,436 375,635 2,165,071 1.990,999 16-
KILCREGGAN HOMES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 EXPENDITURE ON ADMINISTERING THE CHARITY ReslrtcÉed Unrestricled Total 2024 Total 2023 Managernent charge Bank ii)teiEst and charges Auditors, i-emuiiei'ation 151 1,750 151 1,750 609 1.750 1,901 1,901 2,359 DEBTORS Olhei. debtoi-s 251,365 325,426 CREDITORS: Amounts falling due within one year Mortgages Other ci-editors 17,500 117,997 10,429 116,147 135,497 126,576 10. CREDITORS: Amounts falling due after one year 2024 2023 Moi"Lgages Defei-red capital income (Note 2) 202,848 289,677 143,149 289,677 492,525 432,826 Moi'tgages have been secured with UCIT 11. RESTRICTEI D FUNDS Balance 31 March 2023 Movement in resources: Balance Incoming Outgoing Transfer 31 Mai'ch 2024 Restricted fuiid 955,409 1,836,395 (1,791,337) 1,000,467 The fund includes that income genei'ated fi-om Supporting People funding and the matching costs associated with that activity. 17-
KILCREGGAN HOMES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 12. UNRESTRICTED FUNDS Balance 31 March 2023 Movement ij) resources: Balance ITJcoming Outgoing Transfer 31 March 2024 Geiieral fund Sinking fuiid Capital donations fund Capital developmeiit fund Fai'tn donation fund Staff reslii]cture fund 25,788 75,001 550,000 485,000 10,000 20,000 412,642 (375,635) {59,161) 9,161 3,634 84,162 550,000 535,000 10,000 20,000 50,000 1,165,789 412,642 (375,635) 1.202,796 The Boai-d have established a sinking fund i'esei've setting aside pi'ovision for future capital i'enewal of its pi-opeity portfolio and a capital donations fund i-epi-eseiiting the value of assets transferi'ed to the company thiough doiialions. 13. LIABILITY OF MEMBERS The organisation is limited by gu<ii'antee. Evel-y inembei- undeitakes to conli-ibute such amounts not exceeding £1 to the oi-ganisation's assets if it should be wound up while being a membei., oi. within one year of ceasing to be a member. 14. TAXATION No pi'ovision foi. taxation is necessai-y as Kilci-eggan Homes Ltd is exempt fi-om taxation by virtue of its Ch'table activities. The HMRC chai'ity numbei. is XN 84456. 15. RELATED PARTIES No members of the Board of Directoi-s received any iemunei'ation in the year. No membei. of the Boai-d of Dii'ectoi's oi- othei- person i-elated to Ihe Charity had any pei'sonal intei'est in any contract entei'ed into by the Chai-Aty dui'iiig the year. The ultiniate controlling party of Kilcreggan Homes is its Boai'd of Dii-ectoys. 16. CAPITAL CoMMIMENTs Ai the year end Kilcreggan had conimilled to the purchase of M property at 6 Tullaghgore Road, Ballymoney to the value of £330,000. This pi-opei'ty will be refut'bished in oi'dei- Co development a new seTvice in that ai'ea. Funding will be sought to finance the pi'oject. 18-