M8gn¢t YAC
rt o( the Board of Directo
for the
ear ended 31 March 2023
The Board of Directm pr&sents their report and th¢ unaudited fillanci￿ statements for the year Mded 31
March 2023. Tr ditecknrn have adopted the prnvisions of the statell￿t of R￿0Mm￿ded Praclice (SORP)
"Accounting and Reporting by Charities" issued 2015 in Preparing tI￿r annu￿ report and financial statem
of the clwity.
Tr charity was esthbllshed in 1988. It incorporated as a company limited by gllargntee on 14 January 2014 as
Magnet YAC. It started to trade as a ]imited company on l Apiil 2014.
tof
The nwwgemellt committee 18 ¢onstantly cbanw from year to )Yar. The Magnet Centre was fountsl by
vdunteers and thekE has always Ixen an ethos of prnmoting voluDteer8 within the centre alld given the
organisations operalional pattern of 65 hours p¢r week there 18 a need fLff a 8tron8 voluntexiin8 teanl
New members to the management committee &Te invited and enc4Mrnged to att¢Dd a 8eries of trninin8 8e88ion8
to familiaJise themselves WAth the charity and gain the skills ￿￿¢85ary to take an a¢tive role in management
and leadenhip.
The coullnittee al80 produce a SeTrice Level Awnwnt pxk each year. New memb¢T8 are encouraged to read
thx8 information a8 it Sets out the aim8 and objectives of the (x8aDJ￿tIOn.
tion
Th¢ Board of DI[￿tOrS m¢¢t monthly and are Tesponsible for the strategic dI￿10n and policy of the charity.
A8ide from the Board of Directors the orgawation also employ a full lime maiiagu. a part time administrator
and b￿k.keeper, a building supeThisor, a cleaner and a numL%z of full lime and part lime Youth Workers.
anisati
Tr Organisation works alongside the FAaucation AUth￿lty (EA), The Public Hedth A8¢ncy, Youth Action
and The Newry Neighbourhood Renewal TeanL
ObJecdves and Acdvlties
The organisations mission statement is 'to advance the education and prnI￿te th¢ benefit of young adults.
imarily 15.25 year olds, in Ncwry and the sutrounding nwal areas of South Down and South Armagh in a
neutral. Doll-alcohol drug ￿ enviTonmt".
. to estab]ish lillks with 8tatutory and volunw organisations, thus PTh)n￿￿8 and enhancing the work of the
. recognise. encourage and support user"groups within the c¢ntre whose activiti¢s are in accordance with the
objeclives of the centr

Myt YAC
Re
rt of the Board of Dlreetsrs conthi
inclusion.
. ptrlvide a drop in venu4 where young Fople a8￿1 between 15.25 year olds may develop their recreational
and leisurn tlme activities in a non.alcoholie and drug free envir0D￿L
Vhile stereotypical youth clubs focus OD a more sports orientated Curricuh￿ the Magnet YAC offers a more
mixed service for its users. One such service 18 the pmvi8ion of reheatsaVTecording facilities for musicians and
offers a venue for live perfOnna￿ for young musi¢ian& It also provide8 ac¢¢ss to other aits activities such
as dram4 health and ￿ucatiOn wps.
Again8t the backdrop of ]imited resoll￿ and insecurities over fimding, it ha8 continued to be difficult to plan
or develop servic¢8. The Majority of the charity's fijnding 18 receiveAI througb Education Authority (EA). The
Centre a180 receivelj funding throu8h the Public Healtb Agency (PHA) and ha8 received additional fi￿ding
thtOU8h Education Authority (EA) for Outreach and I￿lUSIOn programmes.
The Board of DirectorB need to research curmit fimding bodies to 80urce any 8TaDts or fundiog available to
the Ch￿lty, as well a8 other means of raising funds s￿h 88 bag packs. flag days, gigs and spoD80rnd activities
to kw the L￿tre nllming.
Plam for the future
Tr charity plans continuing the activities outjined above in the forthcoming yw8 sUbJ￿t to salisfactory
funding arngements. Plans are also being devdoped to work on a number of other issues 8uch
- help young ad￿ts tackle the negative image of mental health illness. raise awaTeDe8s of the many different
kinds of illnesses in the area and of the many resources availabl¢ to people in the Newry and Mourne Are&
. to raise the awareness of 8¢xual health issues anion8 young adults ill the local catcburnt are&
- to raise awaTene88 of drug and alcohol misuse amongst members.
- to develop the 8elf4ste¢m and WDfidence of young people and address the issues which effect yovng women
and men in the Newry and Mourne Att&
. to develop a group wh¢r¢ young adults of different cultural backgrouDds, sexual orientalion and r¢li8iOUS
backwund can meet and di8CU8s issues affecting them in a safe, CODformable environmenL
. to help young peopk develop th¢3r skills in the arts i.& music and media recording. and art group design.
Statement of Tru8tee8' rwnslblllths
The trustees (who are a180 of Magnet YAC for the puw of company law) ate responsible for
preparAng the Tn￿, Report and the financial statements ID accordaDLY wAth applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accowiting Practice). Members of the
management commiW who served dwing the year ended 31 March 2021 and up to date of thi8 report are set
out in pages 1-2.

Magnet YAC
rt of the Board
Company law requires the trnistees to prep8se f￿anCIal statements f￿ eath financial year. which give a ttiie
and fair view of the stste of the affairs of the charitabk company and the inconllng r¢Sou[c￿ and appIication
of r¢sour¢es. incluthng the income and eX￿ll￿￿ of the charitable company for the year. In Preparing these
financial slatements, the tnistezs are required to:
- Select suitable accounling policies and apply them ￿nSIstentIy.
. make judgements and ¢stimatss that are Teasonable gmd pnthnt;
- state wh¢th¢r applicable UK Accounting stand￿d8 have been followed. subject to any material
departures di8closed and explainul in the financial statements:
. prepare the financial slatem¢nts on the going concern basis unles8 It is inappropriate to pre8llme
that the charitabk company will continue in op¢ration.
The trustees are responsible for kwing prw accounting Te¢￿th that disclose with reasonable accuracy at
any lime the financial position of the charitable company and enable them to ensure that the financial
8tatenients comply with the Companies Act 2(X)6. They are also reponsible for safeguarding the assets of the
charitable compaDy and hence for taknng reasonable Steps for the prev¢ntion and detection of fraud and other
This report is prepared in accordance with the Statem¢nt of Re£omrnended Practi￿, Accounting and
Reportin8 by Charities (i88ued March 2005) and in accordance with the 8peciaJ PTovisioll8 of Part 15 of th¢
Companies Act 2CM)6 retsling to small ¢onwani¢s.
Thi8 r¢port was approved by the Board of DI[￿tOrS 8nd auth0ri8ed for issu¢ on 19 Deceth 2023 and signed
on its behalf by
Patrfck Hughes
Dlrector
Date: 19 Decanber 2023