Charity registration number NIC100644 Company registrdtion number N1041705 (Northern Ireland) LIFESTART FOUNDATION UMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2023
LIFESTART FOUNDATION LIMITED CONTENTS Page Charty Information Trustees, report Independent examinerfs report Slatement of financial activities Balance sheet 10-11 Notes to the financial statements 12-27
LIFESTART FOUNDATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Patrick Durkan (Chairperson) Ursula Birthistle Maire McReynolds Mairead Wrynn Dr Eileen Dohety Maureen Heatherington (Appointed 25 May 2023) (Appointed 28 July 2023) Secretary Dr Pauline Mcclenaghan (Appointed 25 October 2023) Charity number NIC100644 Company number N1041705 Reglstered office 2 Springrobth House Ballinska Road Springtown Industrial Estate Dery-Londonderry BT48 OGG Independent examiner Moore {Nl) LLP 21123 Clarendon Street DerylLondondery BT48 7EP Bankers Bank of Ireland 27 Culmore Road Londonderry BT48 8JB Solicltors Walter Hegarty Solicitor 4 Queen Street Dery-Londondery BT48 7EF
LIFESTART FOUNDATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The Trustees present their annual report and financial statements for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial ststements and comply with the charty's [goveming document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities prèparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Objectives and actfvities The purpose of the company is to produce better child development outcomes by making available to parents evIden-baSed knowledge and information on how young children develop and learn and supporting parents in the use of this information in their parenting practice. The purpose is implemented through the delivery of the Growing Child, an evidence-base child development programme specifically designed for parents delivered through a home visiting service and other groupbased parents'ng programmes derived from the Growng Child. The Board of the Lifestart Foundats"on in collaboration with Foundation staff review the organisation's aims, objectives and activities each year to ensure that they remain focused on our stated purposes. Our main objectives over the year have been to. continue to implement our mission to improve child outcomes by educating and supporting parents in their parenting role continue to deliver local parenting support seniices aimed at improving child development outcomes deliver on service and tender contracts we hold with Northem Ireland Health and Social Care Trusts continue to train and quality assure Lifestart delivery staff N%therever they are Ivorking to ensure that parents always receive a top quality Lifestsrt service continue to deliver the group Smile Baby programme designed to meet the needs of parents and children affected by the Covid-19 pandemic and its aftemiath work to ensure the sustainability and resilience of the Lrfestart Foundation into the future by implementing the organisation's Succession Plan acquire the resources needed to continue the Foundation's core work review and update the Growing Child Programme support other organisats'ons throughout the island of Ireland and elsewhere to deliver the Lifestart Growing Child Programme and Home Visiting Seriice work wth other organisations to promote the important role of home visiting and home-base pantIng support to improving outcomes for children continue to strive to positively influence public policy in the interests of children and their families Who uses and benefits from the services of the Cha Intemational search dearty demonstrates that good at-home parenting and a good home learning environment are central to ensunng good outcomes for children and that compromised parenting, whatever its cause, is a very serious child development risk factor. We in the Lifestart Foundation aim to provide parents of young children with high quality well-researched and up-t(>date support relevant and appropriate to their needs as their children grow and develop. The beneficiaries of our work are parents and children. particularty the more vulnerable and, through them, the wider communty and society. In this respect, the purpose of the Lrfestart charity fulfils the requirements of the Charities Commission. The Trustees have paid due regard to guidan issued by the Charity Commission for Northern Ireland in deciding what activities the charity should undertake.
LIFESTART FOUNDATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Achievements and performance Over the last 12 months Lifestart Foundation staff have delivered 1,800 home visits and 26 group-based parenting programmes supporting in total just under 1,000 families in Northern Ireland. The Foundation has also supported the work of other organisations delivering Lifestart Services to a further 3,000 parents and children. The Foundation has continued to meet its contractual obligations to the Westem Health and Social Care Twst and to the SoLrthastem Health and Social Care Trust, delivering the home visiting service to families on the Ards peninsula and in Nevrtownards. County Dovm and in Counties DerrylLondondery, Femanagh and Tyrone. Throughout the year we continued to receive referrals to the service in the WNSCT area relating to high vulnerable families on the Child Protection Register or on the edge of chIldn protection. With the agreement of the Trust we began this year to accept referrals for Level 2 families from heamh visitors as well as from social workers, and the number of referrals received throughout the year has increased. Our stsff report back to Trust professionals, attend family case conferences and review meets'ngs, make regular presentations to professional stsff teams on our work and host site visits by social work and health visiting students which helps to increase awareness of the service and its beneficial impact on parents and children. INe also delivered the home visiti'ng service to parents of children 8t risk of adverse childhood experiences (ACES) in both the Western and the Southem Health and Social Care Trust areas funded through a tender with the EU funded Cross-border MACE Project. The MACE project ended in March 2023 and the Lifestart team was congratulated by representatives of both Trusts on their important contribution to the Project. An impact measure developed in collaboration wth the Southastem Trust was piloted with the PMCE families and was subsequently adopted for use to measure the impact of the Lifestart programme with all families receiving the home visiting seNice. Results indicate that all parents receiving the home visiting service feel the service has helped them in their parenting role, 970h that it increased their awareness of key child development issues, 970 that it helped them to bond with their child, 1 Ootsh that it improved parenvchild communication. 970A that it enabled them to shape their Child's behaviour and to promote Child selfosteem and 92% that rt helped them to promote child empathy. As well as individual support provided through the home visiting servi, Y delivered a further 26 groupbased post-covid parenting programmes. The 'Smile Baby Programme. is funded by the RTE Toy Show Fund, managed in Northern Ireland by the Community Foundation which has agreed an extension to the project until March 2024. Parents who have participated in the Smile Baby Programme indicated their appreciation of the opportunity to meet in groups, to articulate and discuss their pantIng issues and concems, to leam more about child development and to gain advi and support. Feedback on the programme has been excellent and demand among parents continues to be high. In the course of the year we acquired funds from the Big Lottery Awards for All for the Bump, Baby and Beyond Project aimed at training and equipping our staff to deliver 'Doula' informed services to new and expectant parents. Our staff have applied what they have leamed through the Doula training in the delivery of Lifestart Programmes and Services and will in the coming year be working to develop a new Bump. Baby and Beyond groUbaSed parenting programme. Through the delivery of our group parenting programmes we have cemented good vrforking relationships with the many organisations that have hosted our programmes, induding Eglinton Community Hall, Homestart Ards, Oak Healthy Living, Surestart Cookstovm. Curyneiran Community Centre, Oasis Antrim Community Hub, Strabane Surestart, Surestsrt Magheraelt. Omagh County Primary School. Shepherd's View, Support 2gether, Omagh Communty House, Dry Arch Surestart, NeWtOlar$ Surestart, East Belfast Surestart, Colin Glen Library, Ballybeen Women's Centre, Rainbow Early Years Centre. LAST Sure Slart, NCB and the Rural Community Nehvork. Lifestsrt staff members continue to be actively involved in strategic networks and systems at Local, Regional, National, European and intemational levels, and continue to partiupate in and present at national and international conferences on the role of Lifestart in supporting parents and improving child outcomes. This year we were repsented at number of relevant on-line events. The Lrfestart Foundation and its partners continue to act to Influen poliry on children and families in Ireland, the UK and Europe. We remain an active member of Eurochild, The CRNINI (Children's Research Netriork Ireland and Nl), the Prevention and Early Intervention Nerk (PEIN), the Earty Intervention Foundation, The Early Years Advisory Group, the Parenting Network, Children's Rights Alliance. Early Childhood Ireland and the Trauma Informed Cross Border Netsyork.
LIFESTART FOUNDATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 As a founding member of the Home 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 commissioned a Feasibilty Study of Home Visiting in Ireland. The Feasibility Study viill be officially launched at the PEIN {Prevention and Eady Intervention Neork) national conference in September of this year. The Foundation is also providing evidence to a study being conducted by the UNITES Team at Maynooth University on home visiting in Ireland. This research has been commissioned by the Department of Children, Equalty, Disability. Integration and Youth (DCED1 with the goal of developing standardised approaches to home vistbng in Ireland. Finally, this year we have begun to Implement, through funding from Dormant Accounts Nl, the Foundation's Succession Plan aimed at ensuring that the Lifestart Foundation has the leadèfship and govemance structure that wlll sustsin and develop the organisation into the future. To oversee the implementation of the plan we appointed an Interim Manager whose duties include: revievllng the statement of responsibilitses of board members and office bearer roles. induction procedures and govemance handbook., managing the Gro)Mng Child programme review process and overseeing the implementation of the recommendations of the Expert Review Panel; reviewing and updating the Foundation's website, social media pSenCe, promotional materials and communications,. working wtth the Board to draw up a marketing plan for the Growing Chikl materials and to source further funding. Flnancial revlew Totsl income for the year was £241,565, of which £192,833 was generated from charitable activities. £13,968 from donations and legacies and £16,218 from other trading activities. The chanty also received £18,546 in respect of gift aid payments from Lifestsrt Resources. a trading subsidiary of the charity. Total expenditure by the charity was £226,843. £216,091 of this was incurred undertaking activities that further our charitsble aims for the benefft of our beneficiaries. Other costs incurred amounted to £10,752. Other losses in the amount of £1,878 represent foIgn exchange losses on translation of Euro bank balances to the presentational currency Pounds Sterting. The balance on totsl funds at the year-end was £217.229, of which £86,854 were unrestricted, £56.781 were designated and £73,594 were restricted. Reserves Policy The Trustees consider it prudent to hold monies in reserve in the event that unforeseen circumstsnces should lead to financial difficulties which might put the future of ts employment capacity. general charitsble work and propety in jeopardy. The Trustees have examined the tharty's requirements for reseNes in light of the main risks to the organisation and estsblished a formal policy which stipulates that free reserves be maintained at a level which ensures that the charity's core activity could continue during a period of unforeseen difficulty. Free reserves are defined by the Trustees as unrestricted income funds freely available for use as the charity so detemines and thereby excludes any funds committed, invested in tangible fixed assets held by the charity and restrided or designated funds. The Trustees, policy is that unrestricted funds Nthich have not been designated for a specific use should be maintained at a level equivalent to beeen three and six month's expenditure. The Trustees considers that reserves at this level will ensure that. in the event of a signrficant drop in funding. they VAII be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. Based on 2022123 expenditure (excluding depreciation) of £224,391 the tsrget level of reserves is £56,100 to £112,200. Free reserves as at 31 st March 2023 a £85,350. The Trustees continue to strive to build and maintain a general level of reserves in accordants with the upper level of the target so that they will 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 2023 Plans for future periods Our key priorities in the coming year are to: Fully implement our Succession Plan Review and update our Strategic Plan Draw up a Foundation Marketing Plan Acquire the resources to develop and deliver the Bump, Baby and Beyond Programme Draw up and submit a successful Peace Plus Application Acquire the resources to ensure the continuance and sustainabilty of our work to support parents and children Structure, governance and management Governing document Lifestart Foundation Limited is a company limited by guarantee and accepted as charitable by HMRC under reference XR 47557. The company was incorporated on 8th October 2001. The company was established under Memorandum of Association which established the objects and powers of the company, and is governed by its Articles of Associats'on. The liability of members is limited in that every member of the company undertakes to contribute an amount not exceeding £1 in the event of the company being wound up. The Trustees, who are also the directors for the purpose of company law. and vého senied during the year and up to the date of signature of the financial statements were: Patrick Durkan (Chairperson) Ursula Birthistle Maire M¢Reynold8 Mary McGowan Mairead nn Dr Eileen Dohety Maureen Heatherington (Resigned 25 May 2023) (Appointed 25 May 2023) (Appointed 28 July 2023) Recruitment and appointment of the Trustees Under the requirements of the Memorandum and Artides of Association unless OtherlSe detemiined by the company in General Meeting the number of Trustees shall not be less than four. Trustees are elected to serve only until the next Annual General Meeting at which they shall then be eligible for re-election. In the financial year there were no thanges to the Board of Trustees. The Board as a whole was approved by the AGM and continues to monitor its membership. Rlsk Management The Trustees are aware of the major risks to which the charity is exposed. Imiere appropriate. systems or procedures have been established to mitigate the risks the charity faces. Intemal control risks are minimised through the procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with applicable laws and regulations. These procedures are reviewed periodically to ensure that they continue to meet the needs of the charity. Organisation Structure The Board of Trustees consists of six members who administer the charity. The Trustees are responsible for the strategic direction and policy of the organisation. The Trustees are from a variety of professional backgrounds relevant to the work of the charity. All members of the Board of Trustees give their time voluntarily and receive no beneffts from the charity. Any expenses redaimed from the charity are set out in the notes to the financial statements. A scheme of delegation is in place and responsibilty for the provision of services rests viith the Foundation's Executive Director, who is responsible for the day to day operational management of the charty.
LIFESTART FOUNDATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Statement of Trustees. responsibilities The Trustees. who are also the directors of Lifestart Foundation Limtted for the purpose of company law, are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Untted lfjngdom Generally Accepted Accounting Practice). Company Law qUireS the Trustees to prepare financial statements for each financial year which give a true and fair view of the stste of affairs of the charity and of the incoming resources and applicab'on of resources, including the income and expendrture. of the charitable company for that year. In preparing these financial statements. the Trustees are required to: select suitable accounting policies and apply them consistenty; - observe the methods and prinuples in the Charities SORP; - make judgements and estimates that are reasonable and pwdent; stste whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial ststements on the going concem basis unless it is inappropriate to presume that the charity will continue in operth'on. The Trustees are responsible for keeping adequate accounting records that disdose with reasonable accuracy at any time the financial position of the charty and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charty and hence for taking reasonable steps for the prevenb'on and detection of fraud and other irregularib'es. The Trustees, report VAS approved by the Board of Trustees. Patrick Durkan {Chairperson) Trustee 15 November 2023
LIFESTART FOUNDATION LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIFESTART FOUNDATION LIMITED I report on the accounts of the charity for the year ended 31 March 2023, which are set out on pages 8 to 27. Respective responsibilities of Trustees and examiner The trustees, who are also the directors of Lifestart Foundation Limited for the purposes of company law, are responsible for the preparation of the accourrts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity Is not subject lo audit under company law, and is eligible for independent examination, it is my responsibilty to- examine the accounts under section 65 of the Charities Act (Northem Ireland) 2008 (li) follow the procedures laid down in the general directions given by the Charity Commission for Northern Ireland under section 65(9){b) of the Chartts'es Act (iii) state whether particular matters have come to our attention. Basis of independent examinerfs report I have examined your charity accounts as required under section 65 of the Charitses Act and my examination was carried out in accordance with the general Directions gNen by the Charty Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disdosures in the accounts, and seeking explanats'ons from you as charity trustees conceming any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe.. 1. That accounting records were not kept in accordance wrth section 386 of the Companies Act 2006 2. That the accounts do not accord Vth those accounting records 3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended praCts. applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland 4. That there Is further infonnation needed for a proper understanding of the accounts to be reached. Independent examinerfs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that i am qualified to undertake the examination because l am a registered member of Chartered Accountants Ireland, which is one of the listed bodies. I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the.Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. /lA4£) LF Moore (Nl) LLP Charted Accountants Ireland 21123 Clarendon Street DerrylLondondery BT48 7EP Dated: 15 November 2023
LIFESTART FOUNDATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Current financial year Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2023 Total Total 2023 2023 2022 Income and endowments from: Donations and legacies Charitable activities Investments Other income 13,968 77,868 13,968 192,833 18,$46 16,218 19,577 267,652 25,242 15,564 114.965 18,546 16,218 Total income 149,729 91,836 241,S65 328,035 endlture on: Raising funds Charitable activities 10.752 140,774 10,752 216,091 10,798 266,073 1,774 73,543 Total expenditure 1S1,526 1,774 73,S43 226.843 276,871 Net (•xpenditure)lincome for the yearl Net (outgoing)lincomlng resources (1,797) (1,774) 18,293 14,722 51,164 Other recognised gains and losses Other gains or losses 12 1.878 1.878 (2,937) Net movement in funds 81 (1,774) 18.293 16,600 48,227 Fund balan$ at 1 April 2022 as reststed 86,773 58.555 $5,301 200.629 152,402 Fund balances at 31 March 2023 86.854 56.781 73,594 217,229 200.629 The statement of financial activities includes 811 gains and losses recognised in the year. All income and expenditure derive from conts"nuing actiV.es. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
LIFESTART FOUNDATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Prior financial year restated Unrestricted Unrestricted Restricted funds funds funds general designated 2022 2022 Total 2022 2022 Notes Income and endowments from: Donations and legacies Charitable activtties Investments Other income 477 89,451 25,242 15,564 19,100 178,201 19,577 267.652 25,242 15,564 Total income 130,734 197,301 328,035 Ex endlture on: Raising funds Charitable activities 10.798 119,799 10,798 266,073 1,774 144,600 Totsl expenditure 130.597 1,774 144,500 276.871 Net {expenditure)lincome for the yearl Net {outgoing)lincoming resources 137 (1,774) 52,801 51,164 Other recognised gains and losses other gains or losses 12 (2,937} (2,937) Net movement in funds 12,800) (1,774) 52,801 48.227 Fund balances at 1 April 2021 89,573 60,329 2,500 162,402 Fund balances at 31 March 2022 86,773 58,555 55,301 200,629
LIFESTART FOUNDATION LIMITED BALANCE SHEET ASAT31 MARCH 2023 2023 2022 as restated Notss Fixed assets Tangible assets Investments 13 14 58,185 100 59,567 100 58.285 59,667 Current assets Debtors Cash at bank and in hand 15 44,245 118,887 73,521 76,886 163,132 150,407 Creditors: amounts falling due withln one year 16 14.188 (9,445) Net current assets 158,944 140,962 Total assets less current liabilities 217.229 200,629 Income funds Restricted funds nrestricted funds Designated funds General unrestricted funds 19 73,S94 55,301 20 56,781 86,854 58,555 86,773 143.635 145,328 217.229 200,629 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparab.on of financial statements. The members have not required the company to obtsin an audrt of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordan wth the provisions appli(2ble to companies subject to the small companies regime. 10-
LIFESTART FOUNDATION LIMITED BALANCE SHEET (CONTINUED) ASAT31 MARCH 2023 The financial statements were approved by the Trustees on 15 November 2023 Patrick Durkan {Chairperson) Trustee Ursula Birthistle Trustee Company Registration No. N1041705 11
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Charty information Lrfestsrt Foundation Limited is a private company limited by guarantee incorporated in Northem Ireland. The registered office is 2 Springrowth House. Ballinska Road, Springtown Industrial Estate. Dery-Londonderry, BT48 OGG. 1.1 Accounting convention The financial statements have been prepared in accordance with the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland- ('FRS 102°) and the Charities SORP "Accounting and Reporbng by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Finanaal Repoiling Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefft Entity as defined by FRS 102. The charity has tsken a(fvantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flo%Ys. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The ac£ounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Twstees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in fijrtherance of thelr charitable objectives. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specffic purpose. Restricted funds are subject to specffic conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on reipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donab'ons received under GiftAid or deeds of covenant is recognised at the time of the donation. Turnover from other trading activrties is measured at the fair value of the consideration received or receivable and represents amounts receivable for serVIS provided in the normal course of business. Dividends are accrued when the charitS right to receive payment is established. In the case of a Grft Aid payment made by a subsidiary, income is accrued when the Gift Aid payment is payatAe to the parent charity under a legal obligation. Measurement is at the fair value receivable, which will nomalty be the transaction value. Where no such legal obligation exists, income is recognised on receipt 12-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies (Continued) 1.S Expenditure Expenditure is recognised On there is a legal or constructive obligation to make a payment to a third paty, it is probable that settlement 1[ be required and the amount of the obligation can be measurèd reliably. Irrecoverable VAT is charged as a cost against the activty for which the expenditure VRS incurred. Costs allocated to raising funds represent salaries and wages of stsff providing administrative sepiices to Lifestart franchisees and assouated costs incurred in providing this service. Expenditure on charitable actNities indudes the costs of services undertaken to further the purposes of the charity and their assoaated support costs. Support costs are those functions that assist the Work of the charty but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequenty measured at cost or valuation, net of depreciation and any Impalmnt losses. Depreciation is recognised so as to vrrite off the cost or valuation of assets le&$ their residual values over their useful lives on the following bases: Freehold land and buildings Fixtures and fith'ngs 2% p.a. straight line 250A p.a. straight line The gain or loss arising on the disposal of an asset is determined as the difference behveen the sale prOedS and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Flxed asset investments Fixed asset investments are initialty measured at transaction price exduding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as InCrred. A subsidiary is an entty controlled by the charrty. Control is the power to govem the financial and operating policies of the entity so as to obtain benefits from its activities. Payments by subsidiaries to the charity that qualfy for gfft aid are recognised as distributions to owners. The charty recognises gift aid payments on receipt unless the subsidiary has a legal obligation to distribute profits to its oNvners at the reporting date. 1.8 Impaimient of fixed assets At each reporting end date. the charity reviews the carrying amounts of its tangible assets to detemiine whether there is any indication that those assets have sUffed an impainnent loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detennine the extent of the impaimient loss (if any). 1.9 Cash and cash equivalents Cash and cash equivalents indude cash in hand and bank overdrafts. Bank overdrafts are shovm within borrowings in current liabilities. 13-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies (Continued) 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charlty becomes paty to the contractual provisions of the instrumenL Finanaal assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the a&8et and settle the liability simultaneously. Basic financlal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction Costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets dassified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including tteditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the futu payments discounted at a market rate of interest. Financial liabilities classified as payable wilhin one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade cditorS are obllgations to pay for goods or seNices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classtfied as current liabilities if payment is due within one year or less. If not, they are presented as n0n-cuent liabilities. Trade creditors are recognised initially at transaction price and subsequenty measured at amortised cost using the effectNe interest method. Derecognition of financial liabilRies Financial liabilities are derecognised wtten the charitys contractual obligations expire or are discharged or cancelled. 1.11 Taxation The company is a charity and is recognised as such by HM Revenue & Customs under the charity tsx reference XR 47557. As a result there is no liability to taxation on any of its income. 1.12 Employee beneffts The cost of any unused holiday entitlement is recognised in the period in which the employee's Services are received. Tennination beneffts are recognised immediatety as an expense when the charity is demonstrably committed to temiinate the employment of an employee or to provide terniinats'on beneffts. 1.13 Retirement benefrts Payments to defined contribution retirement benefft schemes are charged as an expense as they fall due. 14-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Critical accounting estimates and judgements In the applicatton of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilib.es that are not readily apparent from other sources. The estimates and assoaated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised vthere the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legacies Unrestricted Restrlcted funds funds generdl 2023 Total Unrestricted Restricted funds funds general 2022 Total 2023 2023 2022 2022 Donats'on$ and gtfts 13,968 13,968 477 19.100 19,577 Donations and glfts NIE Electric Halifax Foundation St James, Place Ulster Bank Staff Danske Bank Charrty Esme Mitchell Lifestart Resources Souter Charitable Trust The TBF and KL Thompson Trust WDH Wlllis Other 1,010 6,000 2,458 1.010 6,000 2,458 5,000 5,000 2.000 2,000 3,000 2,500 2,500 5,000 2,500 2,500 5,000 1,000 500 600 1,000 500 1,077 1.500 1,500 477 13,968 13,968 477 19,100 19,577 15-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable activities restated 2022 2023 Services provided under contract Grant funding 114,965 77,868 89.451 178,201 192,833 267,652 Analysis by fund Unrestricted funds - general Restricted funds 114,965 77.868 89,451 178,201 192.833 267,652 Analysls of grant funding The National Lottery Cornmunty Fund - Dormant Accounts Fund Community Fund SEUPB- SOOC RTEICommunity Foundation - Smile Baby project 69,868 8,000 124,715 53,488 77.868 178,201 Investments Unrestricted Unrestricted funds funds genernl general 2023 2022 Gift aid payment from subsidiary Interest receivable 18,446 100 25,242 18,546 25,242 16-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Other income Unrestricted Unrestricted funds funds general general 2023 2022 Provision of administrative services Rental income 10,752 5,466 10,798 4,766 16,218 15,564 Raising funds Unrestricted Unrestricted funds fvnds general general 2023 2022 Provision of administration services offi costs staff costs 7.152 3,600 7,148 3.650 10,752 10,798 Costs allocated to raising funds represents salaries and wages of staff providing administrative services to Lifestart franchisees and associated costs incurred in providing this service. 17-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable activities restated 2022 2023 staff costs Depreciation and impairment Conference and training costs Rent and rates Insurance Heat. light and power Repairs and maintenance Printing, postage and stationery Materials and resources Advertising Telephone Software support Travel and subsistence Legal and professional fees Accountancy fees Other charitsble expenditure 131,415 2,452 14,217 4,780 3.276 4.702 677 493 9,112 6,703 2.819 4,432 18,286 5,814 2,400 4,513 191.305 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 1,974 216.091 266,073 Analysls by fund Unrestricted funds- general Unrestricted funds - designated Restricted funds 140,774 1,774 73,543 119,799 1,774 144,500 216,091 266,073 Trustees None of the Tnjstees (or any persons conneded with them) received any remuneration during the year {2022- no reimbursement of expenses or remuneration). 10 Employees The average monthly number of employees during the year was: 2023 Number 2022 Number 18-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 10 Employees (Continued Employment costs 2023 2022 Wages and salaries Social security costs Other pension costs 122,628 10,953 1.434 177,745 14.780 2,430 135,015 194,955 There Vre no employees whose annual remuneration was more than £60,000. 11 Taxatlon The tharity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 12 Other gains or losses Unrestricted Unrestricted funds fvnds general general 2023 2022 Foreign exchange gains (1,878) 2,937 13 Tangible fixed assets Free1Id land Fixtures and •rKI bullding8 fittin95 Totsl Cost At 1 April 2022 Additions 88,718 63.756 1,070 152,474 1.070 At 31 March 2023 88,718 64,826 153,544 Depreciation and impairment At 1 April 2022 Depreciation charged in the year 30,164 1,774 62.743 678 92.907 2.452 At 31 March 2023 31,938 63,421 95,359 Carrying amount At 31 March 2023 56.780 1,405 58,185 At 31 March 2022 58.554 1,013 59,567 19-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 13 Tangible fixed assets (Continued) Land and Buildings relate solely to propety at 11A Flax Street. Belfast, originally purchased by Lifestart Ardoyne Co. Ltd, partly financed by the Big Lottery funding on 1911212003. The property was subsequently transferred to Lifestart Foundation Limited on 2410812007 for nil consideration. Lifestsrt Foundation Limited is responsible for the maintenance and upkeep of the propety, with direct oymership and control rnaintained by the Big Lottery Fund. 14 Fixed asset investments Other Investments Cost or valuation At 1 April 2022 & 31 March 2023 100 Carrylng amount At 31 March 2023 100 At 31 March 2022 100 2023 2022 Other investments comprise". Notes Investments in subsidiaries 24 100 100 15 Debtors 2023 2022 Amounts falling due wtthin one year: Amounts owed by subsidiary undertakings Other debtors 7,269 36.986 1,937 71,584 44.245 73,521 16 Creditors: amounts falling due within one year 2023 2022 Notes Bank overdrafts Accruals 17 7,045 2.400 4,188 4,188 9,445 -20-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 17 Loans and overdrafts 2023 2022 Bank overdrafts 7,045 Payable wtthin one year 7,045 18 Retirement benefit schemes Deflned contributlon schemes The charity operates a defined contribLrtion pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charge to profft or loss in respect of defined contribution sthemes was £1.434 (2022 - £2,430). -21
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 19 Restricted funds The income fvnds of the charity indude restrided funds comprising the foElowing unexpended balances of donations and Movement in funds restated Balance at 1 April 2021 Incoming resources Resources expended 1 A,. SEUPB- SOOC RTEICommunity Foundation - Smile Baby project The National Lottery Community Fund - DormantAccounts Fund Community Fund 8ig Lottery Fund rriny Life) St James, Place Halifax Foundation Souter Charitable Trust TBF & KL Thompson Trust Black Santa Ulster Bank Staff Esme Mitchell WDH Wlllis Danske Bank Charity NIE Electric Hedley Enkalon Foundation 124,715 53,486 (124,7151 (3,185) 2,500 {2,500) (2,500) (5,000} (5,0001 (1,000) (600) 2,500 5,000 5,000 1,000 600 2,000 2,500 500 2,500 286,752 (211,910)
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 19 Restricted funds Nature of material restricted funds SEUPB - SOOC Funding for the Peace IV, Building Positive Relations - SOOC (Shaping Ourselves and Our Children).. Building the foun( project. Funding provided indudes budgets for staff costs. office and administrabon costs, external expertise and service RTEICommunity Foundation funded project (Smile Baby) Funding to provide a post-covid programme for the parents of chiklren bom immediately prior to or during the pandemic. The Natlonal Lottery Community Fund - Dormant Accounts Fund Funding to implement the Lifestart Foundation Succession Plan. Community Fund Funding to provide training and resources to family visrtors and to provide Doula services. Hallfax Foundation Funding towards office rent and utilities costs. Souter Charitable Trust Funding towards the cost of printing Growing Child booklets.
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 20 Designated funds The income fiJnds of the chaiity indude the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.. Balance at 1 April 2021 Resources Balance at expended 1 April 2022 Resources Balance at expended 31 March 2023 Designated propety assets fund 60,329 (1,774) 58.555 (1,774) 56,781 60,329 (1,774) 58,S55 (1,774) 56,781 Designated funds represents the propety at 11A Flax Street, Belfast transferred to Lrfestart Foundation Limited in 2007 as disclosed within note 13. The designated funds balance is equivalent to the depreciated historic cost of the propety. A sum equivalent to the depreciation charge on the building will be allocated each year to the designated fund. unts'l rt is fvlly amortised. -24-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 21 Analysis of net assets between funds Unrestricted Unrestricted Restricted funds- funds- funds general designated 2023 2023 Total Unresl 2023 2023 Fund balances at 31 March 2023 are represented by.. Tangible assets Investments Current assetsl(liabilities) 56.781 58,185 100 158,944 100 85,350 73,594 86,854 56,781 73,594 217.229
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 22 Financial commitments. guarantees and contingent liabilities Certain grants received and receivable may become repayable to the funder rf the charty is no longer able to meet the conditions 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 indication of the timing as to the liabilities that may arise. 23 Related party transactlons Remuneration of key management peysonnel The remunerats'on of key management personnel is as follows. 2023 2022 Aggregate compensation 62,203 60,660 Transactions with related parties The charity owns 100% of the issued share capital in Lifestart RvJources Ltd. During the year, the Charity entered into the following transactions with Lrfestart Resources Ltd.. Provision of management services amounting to £10.752 (2022.. £10,798). Of this amount, £3,546 remains outstanding at the year end (2022.. £1,93n', Gift aid payment from Lifestart Resources in the amount of £18,446 (2022.. £25,242)., other related party transactions During the year the charity continued to rent office premises at. a commercial rate from Springrowth Developments Limited, an entty under the control of Patrick Durkan, member of the board of Trustees. Rentals of £6,000 were paid in the year (2022: £5.700). No amounts were outstsnding at the year end. -26-
LIFESTART FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 24 Subsidiaries These financial statements are separate charity finanaal statements for Lifestart Foundation Limited. The group is qualffies as a small group under the Companies Act 2006 and as such, the Trustees have chosen to avail of the exemption from preparing consolidated accounts. Individual parent and subsidiary company financial statements are prepared for each financial year as required by company law. Details of the charity's subsidiaries at 31 March 2023 are as follows: Name of undertaklng Registered office Nature of business Class of °A Held shares held Direct Indirect Lifestart Resources Limited Northern Ireland Provision of training. qualty Ordinary assurance and programme shares materials 100.00 25 Funds received as an agent Lifestart Foundation Limited is the lead partner in respect of SOOC (Shaping Ourselves and Our Children).. Building the foundations of good community relations in faTnily life Project administered by the SEUPB. At the beginning of the year, the eharity held no undistributed funds in respect of the SOOC project (restatedl. During the year, the charity received incoming resources on behalf of partner charitable organisations amounting to £13,910 (2022: £2,640) and distributed £11,747 (2022: £2,696) to these partners as instructed by SEUPB. At the balance sheet date, the charity held £2.163 (2022: £nil) in relation to undistributed funds. The charity is legally bound to pay the fijnds over to third parties and has no responsibility for their ultimate application. Accordingly, these amounts have not been reflected in the financial ststements for the year in accordance vdith the treatment recommended by the Statement of Recommended Practice 'Accounting and Reporting by Charities.. Therefo at the year end, the charity has £2,163 in cash and liabilities additional to the amounts disdosed in the financial statements. 26 Comparatlve figures Comparative figures have been restated in respect of some items of income and expenditure originally reported within restricted funds, to reclassrfy these transactions within unrestricted general funds. This is to more accurately reflect the reporting of the transactions in accordance with their associated terms and conditions. There has been no change to previousty reported net movernent in fvnds or total charity funds as a result of these changes. -27-