Charity règistration number NIC100644 Company registration number N1041705 INorthem Irelandl LIFESTART FOUNDATION LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR ThEYEAR ENDED 31 MARCH 2022
LIFESTART FOUNDATION LIMITED CONTENTS Page Charity Infomiation Twslees, report Independent examinerfs report Statement of finanaal actwities Balance sheet Notes to tho finanaal statements
LIFESTART FOUNDATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustses Patrick Durkan (Chairperson) Ursula Birthistle Maire McReynolds Mary McGowan Mairead Vvrynn Secretary John O'callaghan Charity numbèr NIC100644 Company number N1041705 Registered office 2 Spr1ngwth House Ballinska Road Spnnglown Industrial Estate Dery~Londonderry BT48 OGG Independent examiner Moore INI) LLP 21123 Clarendon Street DerrylLondondèrry BT48 7EP Bankers Bank of Ireland 27 Culmore Road Londondèrry BT48 8JB Solicitors Walter Hegarty Solicitor 4 Quèen Slreet Derry-Londonderry BT48 7EF
LIFESTART FOUNDATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2022 The Trustees present their annual report and financial statements for thè year ended 31 March 2022. The financial staternenls have been prepared in 8ccordance with the aeeounling policies set out in note 1 to the financial statements and comply with the charty's Igoverning documenti. the Companies Act 2006 and "Accoullting and Reporting by Charities.. Staternent of Recornmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. Objectives and activities The purpose of the company is lo produce better child development outcomes by making available to parents Èvidence-based knowledge and information on how young Children develop and learn and supporting parents in the use of this information in their parenting practicè. The purpose is implemented through the delivery of the Growing Child, an evidence-base child development prograrnme speafically designed for parents delivered through a home visiting seNce and other grouTrbased parenting programmes derived from the Growing Child. ThÉ Board of the Lifestart Foundation in co112bor3tion with Foundation staff rewew the organisation's aims, objectives and actiwties ea¢h year to ensure that thèy rem8in focused on our slated purposes. Our main objectives over the year have been to". continue to implement our mission to improve child outcomes by edueating and 5UPPOrting parents in their parenting role support other organisations throughout the island of Ireland and elsewhere to deliver the Lifestart Growing Child Progratnrne and Home Visiting Serviee continue lo train and quality assure Lifestart delivery staff wherever they are working lo ensure that parents aayS receive a top qualily Lifestart service work lo extend the direct delivery of Lifestart services in Northern Ireland and work wlh estIng and new franchi5e5 to expand service delivery in Northem Ireland and in other regions deliver on Servi and tender contracts we hold with Northern Ireland Health and Social Care Trusts complete the Shaping Ourselves and Our Children ISOOCI project and publicise project outcomes and impacts develop and deliver a speGific prograrnme response designed to meet the needs of parents and Chidren ffe¢ted by the Cowd-19 pandemic and its aftermath work lo ensure the sustainability and resilience of the Lifestart Foundation into the future by acquiring the resources to develop and implement an organisational Succession Plan plan for a review and upcjète of Ihe Growing Child Programme work with other organisations to prornote the important role of home visiting and home-base parenting support to improving outcomes for Children Continue to 51rive lo positively influence public policy in the interests of children and their families Who uses and benefits frorn the servicé of the Chari International research dearly demonslrales that good at-home parenting and a good home learning enmronment 8re ntral to ensuring good outcomes for children and that Cotllpromised parenting. whatever its cause, is 8 very serious child development risk factor. We in the Lifeslart Foundation aim to provide parents of young children th high quality well-researched and Upldate support relevant and appropriate to their neèds as their Children grow and develop. The beneficiaries of our work are parents and thildren, particularfy the more vulnerable and. through them. the wider community and society. In this respect, the purpose of the Lifestart charity fulfils the requiremènts of the Charities Cornmi55ion. The Tmslees have paid due regard lo guidanee issued by the Charity Commission for Northem Ireland in deciding what activities the charity should undertake_
LIFESTART FOUNDATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Achievements and perfomianGe In spite of the pandernic the Lrfestart Foundation and its Social Franchise Partners continued to support more than 4,000 p8ren15 and their children throughout the course of the year. Vvhile the home visiting service continued to be affected by the aftermath of the Covid-19 pandemic the Lifestart Foundation re-established the home visiting ser4Ace as soon as it was deemed safe to do so and services have now retumed to r)ear normal. The Foundation has been able to continue to fully meet its contractual obligations tts the Western Health and Social Care Trust and to the South-eastem HeaKh and Social Care Trust, reporting to the Trusts monthly on our work wff(h families on the Ards peninsula and in Newtownards, County Down and in Counties DerrylLondonderry, Fermanagh and Tyrone. Throughout the year we wntinued to receive referrals to the seiCe in the WHSCT area relating to highly vulnerable families either on the Ghild Protection Registèr or on the edge of children protection. Through a tender with the EU funded Cross-border MACE Project we havè also this year been delivering the Growing Child programme and home visiting ser to parents of children at risk of adverse childhood experiences (ACES) ill both the Westem and thè Southern Health and Social Care Trust areas. The Foundation's Family Visitors have been involved over the year in a number of case conferencEs which have had very pO$'Ve results for both parènts and children. As well as individual support provided through the horne visiting service, we ntInued to deliver the SOOC programrlle until October 2021. An interim report on this highly SusSfUl project W3s prepared and presented at a wnference, attended by key stake holders, family support practitioners and health and social care professionals, held in the City of Derry-Londonderry in September 2021. A full èvaluation report on the project W3s completed in NovembeT 2021 and disseminated among all relevant networks in Ireland and Nl and Children and Young People Now ICYPNI, the professional publication for the children's sector in the UK conducted 3 G3se study of the SOOC programme disseminating information on the project and it5 OLrtcomes throuohout thè rest of the UK. In all,. 1,948 parènts and more than 3,000 children benefited as 3 result of the SOOC progr8mmè over the duration of the proje¢t. We look forward lo the launch of the EU Peacè Plus fund to which we plan to submit an application to advance and further develop thè very positive work begun on the SOOC project. Very many families have eontinued lo experience 3dditional problems as a result of the Covid health crisis impacting, in particular, on Children's soa21 and emotional development and communication skills. In the course of the year the Foundation acquired funding from the RTE Toy Show Fund, managed in Northern Ireland by the Community Foundation to develop a post-pandemic group-based pantifi9 programme, the 'Smile Baby Project, which we will be delivering until December 2022. To date we have delivered 13 Smile Baby Programrnes, involfflng a total of 52 sessions delivered to 122 parents and 139 children. Five programmes were delivered in County Derry-Londonderry, four in Tyrone, two in Down, one in Antrim and one in Fermanagh. We h3ve eleven more programmes scheduled over thè coming weeks. Parent and children's organisations and cornmunity groups have been slowly opening up again after the Covid crisis so we have had to work hard lo get organisations to host programmes. Many have only recently begun to bring parents and childrèn back into prerllises and to offer fa-tO-faCe programrnes and servi¢es. But the need for group-based parenting support is clearfy there and 15 increasing givèn post-covid inflationary conditions. Psrenls have really appre¢iated the opportunity to meet in groups, to articulate and discuss their Issues and ¢oncems, to learn rnore about child development and lo gain advice and support. Feedb8¢k on the programme is excellent and demand among parents is high. The report of the evaluation of the very successful 5 year partnership project betsveen Lifestart and Tinylrfe finystart conducted by Queens University was launched in September 2021 and as a sU[l of this collaborative project Tinylife, a Nl based charity speaalising in supporting the families of pre-term children, took out a Lifestart franchise agreement. Springboard Navan, an Ireland based family support organi58tion also this year took up a Lifestart franchise. We trained and èquipped Tinylrfe staff in Julle 2021 and Springboard staff in Septemberlootober 2021. Both organisalions are now delivering the Lifestart programme and service.
LIFESTART FOUNDATION LIMITED TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Lifestart staff members continue to be actively involved in strategic networks and systems al Local, Regional, National, Eumpean and international levels, and continue to participate in and prèsent at national and inlemational COnferenS on thè role of Lifestart in supporting parents and improwng child outcomes. This year we were represented at number of relevant on-line events. The Lifest3rt Foundation and its partners continue to act to influence policy on children and families in Ireland, the UK and Europe. We remain an active member of Eurochild, The CRNINI (Children's Research Network Ireland and Nll, the Prevention and Early Intervention Nettvork {PEINI. the Early Intervention Foundation. The Early Years Advisory Group. the Parenting Network, Children's Rights Allianeè, Early Childhood Ireland and the Trauma Informed Cross Border Network. As a founding member of the Horne Visiting Alliance, we worked with partners in the Alliance this year to run a series of information and training webinars for Alliance member staff and key public sector and other stakeholders and we are collaborating with other mernber organisalions to aUIre the resources to continue lo promote home siting as a key childrèn and family service and lo provide addition81 training opportunities for our staff. We have revised and updated our strategic plan and we are working on a Succession Plan 3imed at ensuring that thÈ Lifestart Foundation has the leadership and governan structure that will sustain and develop the organisation into the future. Financial review Total income for the year was £328,035. of which £267.652 was generated from charitable actiirities, £1 9.577 from donations and legacies and £15.564 from other trading acti14ties. The charity also received £25.242 in respect of gift aid payments from Lifèstsrt Resources, a trading subsidiary of the charity. Total expenditure by the charity was £276,871. £266,073 of this was incurred undertaking activitles that further our charitable aims for the benefit of our beneficiaries. Other costs incurred arnounted to £10.798. Other losses in the amount of £2,937 represent foreign exchange losses on translation of Euro bank balances lo the presentational currency Pounds Steding. The charity also reeorded net transfers between funds in the year lotalling £17,297 from restricted funds to unrestricted funds in respéct of adrninistration charges for delivery of funded services_ The balance on total funds at the year-end was £200.629, of which £79.135 were unrestrided. £58,555 were designated and £62,939 were restricted. Reserves Policy The Trustees consider it prudent lo hold monies in reserve in the event that unforeseen CircumstanS should lead to financial dttriculties which might put the futu of ils employmÈnt capacity, general charitable work and propety in jeopardy. The Twstees have examined the charty's requirements for reserves in light of the main risks to the organisation and established a formal policy which stipulates that free reserves be maintained at a level whi¢h ensures that the charitys core activity Could continue during a penod of unforeseen difficulty. Free reserves are defined by the Tnjstees as UnStriCted income funds freely available for use as the charity so determines and thereby excludes any funds committed, invested in tangible fixed assets held by the charity and restricted or designated funds. Tre Trustee5' policy is that unrestricted funds which have not been designated for 8 specific use should be maintained at a level equivalent to between three and six month's expenditure. The Trustees considers that reserves al this level will ensure that, in the èvent of a signifir2nl drop in funding, they will be able to continue the tharity's current artivities while consideration is given to ways in which additional funds may be raised. Based on 2021122 expenditure lexduding depreciation) of £274,428 the target level of reserves is £68,600 to £137,000. Free reserves as at 31st March 2022 are £83,023. The Trustees continue to strivè to build ancl maintain a general level of reserves in accordance with the upper level of the target so that they wll be able to continue the current activities of the charity.
LIFESTART FOUNDATION LIMITED TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2022 Plans for the future Our kÉy priorities in thè Corning year are to.. review our govemance structurè and draw up a Governance Plan draw up 2 Leadership Succession Plan review and update the Growing Child progr8mme in accordance with the latest research in child development and parenting review 2nd refresh the Lifestsrt brand building on ils reputation fortrust and credibility review and update the Foundation's web5rf(e and soaal rnedia presence to protnote better communications and brand awareness draw up and submit a successful Peace Plus appSicalion for the extension of the SOOC1 programme throughout Nl and the Border Counties and the developrllent and implementstion of SOOC2 programme Structtjre, govemance and managèment Goveming document Lifestart Foundation Limited is a company limited by guarantee and a¢pted as charttable by HMRC under referencè XR 47557. The company was incorporated on 8th October 2001. The company WÈS estsblished under Memorandum of Association which established the objects and power5 of the company, and is governed by its Articles of Association. The liability of members is limited in that every member of the company undertakes to contribute an amount not excèeding £1 in the event of the company being wound up. The Trustees, who a also the directors for the purpose of company law, and who served during the year and up to the dale of signature of the finanaal stalÈments were.. Patrick Dutk3n {Chairpersonl Ursula Birthistle Maire McReynolds Mary McGowan Mairead Wrynn Recruitmènt and appointment of the TNstees Under the requirements of th8 Memorandum and Articles of Association unless otherwise determined by the company in General Meeting th8 number of Tnjstees shall not be less than four. Trustèès ale elected to serve only until the nextAnnual General Meeting at which they shall then b8 eligible for re-election. In the financial year there were no changes to the Board of Trustees. The Board as a whole was approved by the AGM and continues to Monitor its membership. Risk Management The Trustees are aware of the rnajor risks lo which the charity is exposed. Imiere appropri3t8, syslerns or procedures have been established to mitigate the risks thè ¢harity faces. Intemal control risks are minimised through the procedures for authorisalion of all transactions and projects. Procedures are in place lo ensure compliance with applicable laws and regulations. These procedures are rewewed periodically to ensure that they continue to meet the needs of the charity. Organisabon Structure The Board of Trustees consists of five membèrs who administer the charity. The Trustees are responsible for the strategic direction and policy of the organisalion. The Trustees are from a variety of professional ba¢kgrounds relevant to the work of the tharity. All members of the Board of Trustees give their time voluntarity and receive no beneffts from the charity. Any expense5 redaimed from the charity are sel out in the notes to the financial statements. A scheme of delegats.on is in pla and responsibilty for the pros1On of seTrices rests wth the Foundation's Executive Director, who is responsible forthe ¢Jay to day operational management of the charity.
LIFESTART FOUNDATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Statsmènt of Trustees. responsibilities The Trustees. who are also the director5 of Lifestart Foundation Limited for the purpose of company law, are responsible for preparing the Trustees. Report and the financial slalements in accordance with applicable law and United Trfj"ngdom Accounting StandÈrds (United Kingdom Generally Accepted Accounting Praoticel. Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, induding the income and expenditure, of the charitable company for that year. In preparing these financial staternents, IhÈ Trustees are required to.. select suitable aUntIng policies and then apply them consistently., observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and pmdenl., state whether applicablè UK Accounting Stan¢J2rds have been followed, subject to any rnaterial departures disclosed and explained in the financial statements., and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity wll continue in opèration. The Trustees are responsible for keeping 3dequate accounting records that disdose with 3$Onable accuracy at any time the financial posrtion of the charty and enable thern lo ensure that the financial statements comply with the Companies Act 2006. They are also osponsible for s3feguarding the assets of the charity and hen for taking 3$Onable steps forthe prevention and detection of fraud and other irregularities. Thè Trustees, report was approved by the Board of Trustees. Patrick Durkan (ChairpeonI Trustè Dated..
LIFESTART FOUNDATION LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIFESTART FOUNDATION LIMITED We report on the accounts of thè charity for the year ended 31 March 2022, which are set out on pages 8 to 26. Respective r•sponsibilitles of TNsteès and examlnèr The trustèes, who are also the direotors of Lifestart Foundation Mited for the purposes of company law, are responsible for the preparation of the accounts in accordance wth the requirements of the Companies Act 2006. Having satisfied ourselves that the charity is not subject to audit under MpanY law, and is eligible for independent examination, it is our responsibility to". examine the accounts urlder section 65 of the Charities Act lill follow the pmcedures laid down in the general directions given by the Charity Comrnission for Northem Ireland under section $519llbl of the Charities Aot liiil staté whether particular matters have come to our attention. Basis of independent examinerfs report We have examined your charty accounts as required under section 65 of the Charities Act and our examination was carried out in accord8nce with the general Directions given by the Charity Commission for Northem Ireland under section 6519llbl of the Charities Act. The examination included a review of the 8ccounting records kept by the charity and a comparison of the accounts presented with those rècords. It also in¢luded consideration of any unusual items or disclosure5 in the ae¢ounts, and seèknng explanations from you as Charity trustees ¢onceming any such rnatters. Our role is to state whether any material matters have come lo our attention gi1ng us caLJse to believe.. 1. That accounting records were not kept in awrdanTr with section 386 ofthe Companies Act 2006 2. That the aceounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2008 and with the methods and principles of the Charities Statement of Recommended Practice applicable to chanties prep3ring their accounts in accordan with the Financial Reporting Standard 8pplicable in the UK and Republic of Ireland 4. That there is further information needed for a proper understanding of the a¢counls to be reached. Independent èxaminerfs ststement We have completed our examination and have no concerns in respect of the matters111 to 141 listed above and, in c(>nnection with following the Diredions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. Moore {NII LLP Chartered Accountants Ireland 21123 Clarendon Street DerrylLondonderry 8T48 7EP Dated. ..Él 111.2021
LIFESTART FOUNDATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022 Current financial year Unrestricted Unrestricted Restricted funds funds funds generdl desrgnated 2022 2022 Totsl Total 2022 2022 2021 Notes Income and endowments from.. Donations and legacies Charitable activbties Investmènts Other income 477 19,100 267,652 19,577 267,652 25,242 15,564 21,122 208.907 12.351 12,945 25,242 15,564 Total income 41.283 286,752 328,035 253,325 Ex enditure on.. Raising funds Charitable actimties 10,798 52,389 10.798 266,073 8.179 261,026 1.774 211.910 Total resources expended 63,187 1.774 211.910 276,871 269,205 Net loutgoingllincoming resourcès before transfers 121,9041 11,7741 74,842 51.164 115,8801 Gros5 transfers beeen funds 17.297 117,2971 Net (expendire}llncQrne for the yearl Net loutgoingllincoming resources 14,6071 11,7741 57,545 51,164 115,8801 Other recognised gains and losses Other gains or losses 11 12,9371 12,9371 14,6661 Net movement in funds 17,5441 11,7741 57,545 48.227 120,5461 Fund balances al 1 April 2021 86,679 60.329 5,394 152,402 172,948 Fund balances at 31 March 2022 79.135 58,555 62,939 200,629 152,402 The statement of finanaal actiV(leS indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The ststement of fin8llcial activities also complies with the requirements for 8n income and expenditure account under the Companies Act 2006.
LIFESTART FOUNDATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES {CONTINUEDI INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022 Prior financial year Unrestrrcted UnrestrFCted Restricted funds funds furtds generdl designated 2021 2021 Total 2021 2021 Notes Income and endowments frorn: Donations and legacies Charitable activities Investments Other income 1,506 19,616 206,907 21,122 206,907 12,351 12.945 12,351 12,945 Total incomè 26,802 226,523 253,325 Ex enditure on: Raising funds Charitable activities 8,179 50,873 8,179 261.026 1,774 208,379 Total resources expended 59.052 1,774 208,379 269.205 Net loutgoingllincoming resources before transfers 132,2501 11,7741 18,144 115,8801 Gross transfers bee&n funds 14.849 114,8491 Net lexpendtturellincome for the yearl Net loutgoingllincorning resources 117,4011 11,7741 3.295 115,8801 Other re¢ognised gains and losses Other gains or losses 11 14.6661 14.6661 Net movement in funds 22,0671 11,7741 3.29S 120,5461 Fund balances at 1 April 2020 108.746 62,103 2,099 172,948 Fund balan¢es at 31 March 2021 86.679 60.329 5,394 152.402 The statement of finanaal activities indudes all gains and losses rec4)gnised in the year. All ineorne and expenditurè derive from continuing aCti7t1e$. Thè statement of financial activities also complies the requirements for an income and expenditure account under the Companies Act 2006.
LIFESTART FOUNDATION LIMITED BALANCE SHEET AS AT31 MARCH 2022 2022 2021 Notes Fixed assets Tangible assets Investments 12 13 59,567 loo 62,010 100 59.667 62,110 Current assats Debtors Cash at b8nk and in hand 14 73,521 76,886 66,443 34,751 150.407 101,194 Credito. amounts falling due within one year 18 19,4451 110,9021 Net current assets 140,962 90,292 Totsl assets less current liabilities 200,629 152,402 Income funds Restricted funds Unrestricted funds Designated funds General unrestricted funds 18 62,939 5,394 19 58.555 79,135 80,329 86.679 137.690 147,008 200,629 152,402 The company is entitled to the 8xemption from the audit requirement contsined in section 477 of the Companies Act 2006, for the year ended 31 March 2022. The directors acknowledge their responsibilities for cDrnplying with the requirements of the Companies A¢t 2006 with resped to accounting records and the preparation of financial slalements. The members have not required the company to obtain an audit of ils financAal statements for the year in quéstion in accordance with section 476. These financial statements have been prepared in accordance with the prowsions applicable to eompanies subject to the small companies regime. The financAal statements were approved by the Trustees on Patrick Durkan Ichaitpersonl Trustee Ursula Birthistle Truste• Cornpany Registration No. N104170S 10-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accountirjg policies Charity inforniation Lilèstsrt Foundation Limited is È private company limited by gLJ8rantee incorporated in Northem Ireland. The registered office is 2 Springrowth House, BalSinska Road, Springlown Industrial Estate. Dery-Londondery, BT48 OGG. 1.1 Accounting convention The f nanaal statements have bèen prepared in accordan with the Companies 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102,1 and the Charrfiies SORP "Accounting and Reporting by Charities." Statement of Recommended Practice applicable to charities preparing their accounts in Èccordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" (Èffective 1 January 20191. The charity Is a Public Benefit Entity as defined by FRS 102. The charity has tsken advantage of the prowsions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statèments are prepared in sterfing, which is the fvnctional currency of the charty. Monetsry amounts in these financial statements are rounded to the nearest £. The accoLJnts have been prepared under the histori¢al cost convention. The principal accounting policies adopted are set out below. 1.2 Going concem At the time of approving the finanual slalements, the Tnjstees have a reasonable expectation.that the charty has adequate resources to continue in operational exislèn¢e for the foreseeable future. Thus thè Trustees ontinue to adopt the going concern basis of accounting in preparing the finanaal statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of thèir charitable objectives. Designated funds are Unstted funds of the charity which the trustee5 have decicled at their discretion to set aside to use for a specrfic purpose. Reslricled funds are subject to specific conditions by donors as to how thèy may be used. The purposes and Uses of the restri¢ted funds are sel out in the notes to the financial staternents. 1A Income Income is recognised when the charty is legally entitled lo il after any performance condf(ions have been met, the amounts C2n be measured liablY. and il is probable that income will be received. Cash donations are reo)gnised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the aNounl. Income tax recoverable in relation lo donations received under Gift Aid or deeds of Covenant is recognis&d at the time of the donation. Turnover from other trading activities is measured at the fair value of the consideration I5ved or receivabls and represents amounts receivable for services provided in the normal course of business. Dividends are awwed when the charity's right to receive payment is estsblished. In the case of a Gift Aid payment made by a subsidiary, income is accrued when the Gift Aid payment is payable to the parent charity under a legal obligation. Measurement is at the fair value receivable, which will normally be the transaction value. INhere no such legal obligation exists, income is recognised on reGeipt. 11
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies (Continued) 1,5 Expenditure Expenditure is recognised once there is a leg81 or constructive obligation to make a payment to a third party, it is probable that Settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Costs allocated to Taising funds represent salarie5 and wages of stsff providing administrative services to Lifeslart franchisee5 and associated costs incurred in providing this servi. Expèndrfcure on charitable actiwties indu(tes the costs of SenS undertaken to further the purposes of the charity and their associated support costs. Support cstS are those function5 that assist the WOTt of the charity but do not directly undert8ke charitable 8Ctiwties. Support costs indude back office costs, finance, personnel, payroll and govemaneè costs which support the charty's Pfogrammes activrties. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsèquently meaSUd at rost or valuation. nel of depreciation and any impairrnent losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basès= Frèehold land and buildings Fixtures tnd fittings 2°A p.2. straight line 25QA p.a. straight line The gain or loss arising on the dispos31 of an asset is dètermined as the difference beMeen the sale prOedS and the carying value of the asset, and is recognised in thè statement of finanGial activities. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs. and are SLJbséquentW measured at fair value at each reporting dste. Changes in fair value are recognised in net incomellexpenditurel for the year. Transaction costs are expensed as incurred_ A subsidiary is an entity oonlrolled by the charity. Control is the power to govern the financial and operating poliaes of the entity so a5 to obtain benèfits from its actIve5. Payments by subsidizries to the charity that qualify for gift aid 8re recognised as distributions to owners. The charity recognises gift aid payrnents on reeeipl unless the subsidiary has a legal obligation to distribute profits lo ils owners al the reporting date. 1.8 Impairnient of fixed assèts At each reporting end date, the charity reviews the carrying amounts of tts tangible assets to detemiine whether there is any indication that those assets have suffèred an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order lo determine th& extent of the impairment loss lif 8nyI. 1.9 Cash and cash equivalents Cash and sh eqLJivalents incjude ¢8sh in hand and bank overdrafts. Bank overdrafts are shown within boFrowings in cxjrrent liabilities. 12
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies Icontinuedl 1.10 Fin3ncial instruments The ch2rity has elected to apply the provisions of Section 11 'Basic Financial Instrutnents, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financi21 instruments are recognised in the charity's balance sheet whèn the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wth the net amounts presented in the financial statements. when there is a legally enforable right to set off the Fèwgnised amounts and there is an intention to settle on a net basis or to realise the asset and setue the liability simultaneously. 8asic financialassets Basic financial assèts. which include debtors and eAsh and bank b318nces, are initially measured at transaction price including transaction CStS and are subsequently rrIed at amortised cost Lssing the effective intèrest method unless the arrangement constitutes a finanang Iransaclion, where the transaction is measured at the present value of the fvture receipts discounted at a rnarket rate of interest. Financial assets ¢lassified as receivable within one year are not amort15ed. Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised al transaction price unless the arrangement constilules a financing transaction, where the debt instrumént is rneasured at the present value of the future paymènts discounted at 8 market rate of interest. Finanaal liabilities classified as payable within one year are not amort15ed. Debt instruments are subsequently carried at 2mortised cost, using the effective interèst rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as currènt liabilities if payment Is due within one year or less. If not, they are presented as non-eutrent liabilrfLies. Trade creditors are reoognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. DecOgnItIon of finaneial liabilities Fin3ncial liabilities are derecognised when the charty's contractual obligat40ns expire or are disd)arged or ¢8ncelled. 1.11 Taxation The cornpany is a charity and is recognised as such by HM Revenue & Customs under the charity tax reference XR 47557. As a result there is no liability to tsxation on any of its income. 1.12 Employee bènèfits The cost of any unused holiday entidamenl is recognlsed in the period in which the employee's services are received. Terniination benefits are recognised immediately as an expense when the charity is demonstrably comrHitted to tem)inate the employment of an employee or lo prowde termination benefits. 1.13 Retirement benefits Payrnents to defined contribution retirement benefit s¢hernes are charged as an expense as they fall due. 13-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 CritEcal accounting estimates and judgements In the application of the charity's accounting policAes. the Trustees ale required to rnake judgewenls, estimates and 355umptions about the eatrying amoLJnt of asseis and liabilities that are not readily apparent from other sourc*s. The estimates and 8s50Ql8ted assumptions are based on historical experien and other factors that arè ¢on5idered to be relevant. Actual results may differ from these estimates. The estimates and underfying 85sumptions aTe reviewed on an ongoing basi5. Rewsions lo accounting estimates are recognised in thè period in which the estimate is revised where the revision afferts only that period, or in the period of the rèvision and future periods wherè the revision affects both current and fvture pe0d5. Donations and legacies Unrestricted Restricted funds funds generdl 2022 Total Unrestricted funds general 2021 Restricted funds Totsl 2022 2022 2021 2021 Donations and gifts 477 19,100 19.577 1,506 19,616 21,122 Donations and gifts HMRC Coronavirns Job Retention Scheme Halifax Foundation Sl James, Place Ulster Bank Staff The Belfast Cathedral Sit Out Esme Mitchell Lrfestart Resources Souter Charitable Trust TheTBF and KL Thompson Trust WDH KMIIis Other 17,116 17.118 5,000 5,000 2,500 2,500 2,000 2.000 1.425 1,425 2,500 2,SOO 5,000 2,500 2,500 s.000 1,000 500 600 1.000 500 1,077 477 81 81 477 19,100 19,577 1.506 19,816 21.122 14-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Charitable activities 2022 2021 Grant funding 267.652 206,907 Analysls of grant funding Western Health & Social Care Trust SEH&SCT (Sure StartArdsl SEUPB- SOOC RTEICommunity Foundation- Smile Baby project 71.372 18.079 124,715 53.486 70,518 19,132 117,257 267,652 206,907 Invesbnents Unrestricted Unrestricted funds funds general general 2021 2022 Gift aid payrllent from subsidiary 25.242 12,351 Other income Unrestrtcted Unrestricted funds funds general general 2022 2021 Provision of administrative seNces Rental income 10,798 4,766 8,179 4,768 15,564 12.945 15-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Raisirtg funds Unrestricted Unstricted funds funds gèneral gener31 2022 2021 Provision of administration seTvices offi costs Staff costs 7.148 3,650 4.579 3,600 10,798 8,179 Costs allocated to raising funds represents salaries and wages of st8ff providing administr81ive services to Lifestart franchisees associated costs incurred in prOdIng this service. Charitable activiti85 2022 2021 Staff costs Depreaation and irnpaimient Confèrence and training costs Rent and rates Insuran Heat, light and power Repairs and m8lntenan Printing, postage and stationery Materials 2nd resources Advertising Telephone Software support Travel and subsistence Legal and professional fees Accountancy fees Other charitable expenditure 191,305 2,443 14,576 4.500 4.099 6.678 1,110 2,447 9,055 1.366 4.664 5,866 7,270 7,160 1.560 1,974 216,176 2,499 3,215 4,283 2,904 6,618 947 2,899 3,408 488 2,429 2,889 3,419 3,240 1,188 266,073 261,026 Analysis by fund Unrestricted funds- gener31 Unrestricted funds - design8ted Restricted funds 52,389 1,774 211,910 50,873 1,774 208.379 266,073 261,026 18-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Trustses None of the Trnstees lor any persons connected with them) received any remuneration during the ye8r12021- two of them were reirnbursed travelling expenses totalling £441. 10 Employeès The average monthly number of ernployees during the year was.. 2022 Number 2021 Number Employment costs 2022 2021 Wages and salaries Social security costs Other pension costs 177,745 14,780 2,430 200,192 16,746 2,838 194,955 219,776 There were no èmployees whose annual remuneration was more than £SO,000. 11 Other gains or losses Unrestricted Unrèstricted funds funds general general 2022 2021 Foreign exchange gains 2.937 4,666 17-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 12 Tangible fixed as$ets Freehold land Fixtures and and buildings fittings Total Cost At l April 2021 88.718 63,756 152,474 At 31 March 2022 88,718 63,756 152.474 Depreciation and impairment At 1 April 2021 Depreciation charged in the year 28.390 1,774 62.074 669 90,464 2,443 At 31 March 2022 30,164 62,743 92,907 Carying amount At 31 March 2022 58.554 1,013 59,567 At 31 March 2021 60.328 1,682 62,010 Land and Buildings relate solely to property al 11A Flèx Street, Belfast, originally purchased by Lrfestart Ardoyne Co. Ltd, partly fin3nced by the Big Lottery funding on 19112120J3. The property was subsequently transferred to Lifestart Foundabon Limited on 2410812007 for nil consideration_ Li*estart Foundation Limited is responsTble for the maintenance and upkeep of the property, with direct ownership and control maintained by the Big Lottery Fund. 13 Fixed asset investments Other investmènts Cost or valuation Al 1 April 2021 & 31 March 2022 100 Carying amount At 31 March 2022 100 At 31 March 2021 100 2022 2021 Other investments comprisè.. Notes Investments in subsidiaries 24 100 100 18-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 14 Debtots 2022 2021 Amounts fallffing due within one year: Amounts owed by subsidiary undertakings Other debtors 1,937 71,584 3,582 62,861 73.521 66,443 15 Loan5 and overdrafts 2022 2021 ank overdrafts 7,045 7,662 P8yable within onè year 7,045 7,662 16 Crèditor5- amounts falling due WFthin one year 2022 2021 Notes Bank overdrafts Accruals 15 7,045 2,400 7,662 3,240 9.445 10.902 17 Retirement benefrt schemes Defined contributton schemes The operztes 3 defined contribution pension s¢herne for all qualifying employees. Tre assets of the scheme are held separately from those of the charity in an independently administered fvnd. Th8 charge to profrt or loss in respect of ¢Jefined eontThbution schemes was £2,43012021- £2.8381. 19-
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LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 19 Designated funds The income funds of the ¢harity indude the following designated funds vthich have been Set aside out of unrestricted funds by the trustees for specific purposes.. Balance at l April 2020 Rtseurce5 expended Balance at 1 April 2021 Res04Jrces expended Balance at 31 March 20¥ Designated property aets fund 62,103 (1.T741 60.329 11.774 58,555 62,103 11,7741 60,329 11,7741 58,555 Designated funds represents thé property at 11A Flax Street, Belfast transferred to Lifestart Foundation Limited in 2007 as disclosed wthin note 12. The designated funds b8lance is equiv31enl to the depreciated historic cost of the property. A sum equivalent to the depreuation tharge on the building will be allocated each year to the designated fund, until it is fully amortised.
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LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 21 Transfers betsyeen funds During the year there were nel transfers between funds lotalling £17,297 12021.. £14,849) from restricted funds released and transferred to unrestricted funds representing administration chargès for delivery of funded services allowed by funders. 22 Financial commttments, guarantees and contingent liabilities Certain grants received and receivable may become repayable lo the fundei if the charity is no longèr able to meet the nditionS under which they were awarded. Due to the nature of these contingencies it may not be possible to quantify the potential financial effect or give an indiG3tion of the timing as to the liabilities that may arise. 23 Related party transaction5 Remuneration of key m3nagement personnel The remuneration of key management personnel is as follows. 2022 2021 Aggregate compensation 60,660 84.684 Transactions with related parties The charity owns 1 OOQh of the issued share opital in LifÈ5tart Resour(*s Ltd. During the year, the charity entered into the following transactions with Lrfestsrt ResourTrs Ltd.. Provision of rnanagemenl SeICe$ arnounting to £10,798 12021.. £8,179). Of this amount, £1,937 remains outstanding at the year end12021'. £3,582),. Gift aid payment from Lrfestart ReSoUrS in the amount of £25,24212021.. £12.3511'. Other relatsd paty transactions During the year the charity continued to rent office prernises at 8 cornmèrcial rate from Springrowth Developments Limited. an entity under the control of Patrick Durkan, member of the board of Trustees. Rentals of £5,700 were paid in the year12021.. £5,400). No 8mounts were outstanding at thè y6ar end. -25-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 24 Subsidiartes These finanaal statements are separate charity finanaal statements for Lifeslart Foundation Limited. The gmup is qusltfies as a small group under the Companies A¢t 2006 and as such, the Trustees have chosen to avail of the exèrnption from preparing consolidated accounts. Individual parent and subsidiary company financial statements are prepared for èach financial year as rwuired by company law. Details of the ch8rills subsidiaries at 31 Mart* 2022 a as follows-. Name of undertaking Regrstered office Nare of business Class of shares held % Held Direct Indrrect Lrfèstart Resources Limited Northern Ireland PTowsion of training, quality Ordinary assuran and programme shares materials 100.00 25 Funds received as an agent Lifestart Foundation Limited is the lead partner in respect of SOOC Ishaping Oursèlves and Our Children).. Building the foundations of good community relations in family life Project 8dministered by the SEUPB. At the beginning of the year, the charity held undistributed funds in the amount of £7,805 in respect of the SOOC project. During the year, the charity received incoming resources on beh31f of partner charitable org3nisalions amounting to £2,640 12021." £72,986) and distributed £2,69612021.' £72,936) to thesè partners as instructed by SEUPB. At thè balance sheet date, the charity held £7,749 12021." £7,805) in relation to undistribLrted fvnds. The charity is legally bound to pay thè funds over to third parties and ha5 no responsibility for their ultimate applitration. Accordingly, these amounts have not been reflected in the financial slalernents for the year in accordance with the tre8tmenl recommended by the Staternent of Recommended practi "Accounting and Reporting by Charities.. Therefore at the year end, the charity has £7.749 in cash and liabilities additional to the amounts disclosed in the finanual statements. -26_