Impact Training Nl Limited
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
Restricted
funds Total funds Total funds
2023
Unrestricted
funds
Note
Income and endowments
Donations and legacies
Charitable activities
Other trading activities
Investment income
45.867
1,331.533
74.589
6.607
991
1,099,432
46,858
2,430,965
74,589
6,607
562,171
2,175,839
84,828
1,555
Total income
1,458,596
1,100,423
2,559,019
2,824,393
Expenditure
Expenditure on charitable activities
Total expenditure
9,10
1,198.218
1,248,449
2,446,667
2,296,876
1.198.218
1,248,449
2,446,667
2,296,876
Net income
260.378
(148,026)
112,352
527,517
Transfers between fijnds
{3,353)
3.353
Net movement in funds
257.025
(144,673)
112,352
527,517
Reconciliation of funds
Total funds brought forward as previously
reported
Prior year adjustment
Total funds brought forward as restated
Total funds carried fonNard
5.610,554
157,721
5,768,275
4,082,746
1,158,012
5,240,758
5.610,554
157,721
5,768,275
5,867,579
13,048
5,880,627
5,768,275
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activrties.
The notes on pages 27 to 41 fom) part of these financial statements.
24

Impact Training Nl Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
Fixed assets
Tangible fixed assets
Investments
16 2.423,830
17
1.893.631
2,509,659
1,836,887
4,317.461
4,346,546
Current assets
Debtors
Cash at bank and in hand
18
185,396
1,439,819
492,396
1,037,980
1,625,215
1,530,376
Creditors: amounts falling due within one year
Net current assets
19
62,049
1,563,166
108,647
1,421,729
Total assets less current liabilities
5,880,627
5,880,627
5,768,275
Net assets
5,768,275
Funds of the charity
Restricted funds
Unrestricted fijnds
13,048
5.867,579
157,721
5,610,554
5,768,275
Total charity funds
22 5.880,627
These financial statements were approved by the board of trustees and authorised for issue on 18
September 2024, and are signed on behalf of the board by:
Ls-
Mr lan Jamison
Trustee
Mr v￿llIaM Hutchinson
Trustee
The notes on pages 27 to 41 fom) part of these finanGial statements.
25

Impact Training Nl Limited
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
Cash flows from operating activities
Net income
112,352
527,517
Adjustments for
Depreciation of tangible fixed assets
Other interest receivable and similar income
Interest payable and similar charges
Accrued income
99,550
{6,607)
1,678
(12.480)
63,800
(1,555)
1,739
Changes in."
stocks
Trade and other debtors
Trade and other creditors
500
(96,423)
52,867
548,445
307,000
(34,118)
467,375
Cash generated from operations
Interest paid
Interest received
{1.678)
6.607
(1,739)
1,555
Net cash from operating acttvities
472.304
548,261
Cash flows from investing activities
Purchase of tangible assets
Proceeds from sale of tangible assets
Purchases of other investments
{13,721)
(31,129)
97
(56,744) (558,433)
{70,465) (589,465)
Net cash used in investing activities
Net increasel(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
401,839
1.037,980
(41,204)
1,122,150
1.439,819
1.080,946
The notes on pages 27 to 41 fomi part of these financial statements.
26

Impact Training Nl Limited
Notes to the Financial Statements
Year ended 31 March 2024
General information
The charity is a public benefit entity and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is 16 Lanark Way. Belfast, BT13 3BH.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities
SORP (FRS 102)) and the Companies Act 2006.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment propertjes measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors, including expectations
of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal. and fall into one of two sub-classes. restricted incorne funds or
endowment funds.
27

Impact Training Nl Limited
Notes to the Financial Ststements (contlnued)
Year ended 31 March 2024
Accounting policFes (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity,. it is probable that the economic benefits associated with the transaction
will flow to the charity and the amount can be reliably measured. The ft)Ilowing specific policies
are applied to particular categories of income:
income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the
accounts when received if the value can be reliably measured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned rf unspent, in which case
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered. and is classified under headings of the statement of
financial activities to which it relates-
expenditure on raising fvnds includes the costs of all fundraising activities, events,
non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
acts-vities.
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
be￿een the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost. and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
28

Impact Training Nl Limited
Notes to the Financial Ststsments (continued)
Year ended 31 March 2024
Accounting policies f¢ontinued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the loss is shown within
other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual
value, over the useful economic life of that asset as follows:
Freehold property
JACS
Fixtures and fittings
Motor vehicles
Equipment
20Yo straight line
12°/a Straight line
12°/o Straight line
20°/fj Straight line
20°A straight line
Investments
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly
attributable expenditure.
Investment propety is revalued to its fair value at each reporting date and any changes in fair
value are recognised in income or expenditure.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of
investment property, it shall be transferred to tangible assets and treated as such until it is
expected that fair value will be reliabty measurable on an on-going basis.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost
less any accumulated impairment losses.
Investments in associates accounted for in accordance with the fair value model are initially
recorded at the transaction price. At each reporting date. the investments are measured at fair
value, with changes in fair value taken through income or expenditure. Where it is impracticable
to measure fair value reliably without undue cost or effort. the cost model will be adopted.
Dividends and other distributions re￿iVed from the investment are recognised as income without
regard to whether the distributions are from accumulated profits of the associate arising before or
after the date of acquisition.
29

Impact Training Nl Limited
Notes to the Financial Statements fcontlnued)
Year ended 31 March 2024
Accounting policies (continued)
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are
recorded at cost less any accumulated impairment losses.
Investments in jointly controlled entities accounted for in accordance with the fair value model are
initially recorded at the transaction price. At each reporting date, the investments are measured
at fair value, with changes in fair value taken through income or expenditure. Where it is
impracticable to measure fair value reliably without undue cost or effort, the cost model will be
adopted.
Dividends and other distributions received from the investment are recognised as income without
regard to whether the distributions are from accumulated profits of the joint venture arising before
or after the date of acquisits'on.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Iwlhere the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment tests'ng, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the
cash-generating unit to which the asset belongs. The cash-generating unit is the smallest
identifiable group of assets that includes the asset and generates cash inflows that largely
independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are inttially recognised at the amount receivable or payable including
any related transackn'on costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
30

Impact Training Nl Limited
Notes to the Financial Statements (conlinued)
Year ended 31 March 2024
Accounting policies (continued)
Financial instruments (continued)
Vvhere investments in shares are publicly traded or their fair value can otheNise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes
recognised in the statement of financial activities, with the exception of hedging instruments in a
designated hedging re5ationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significant, these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impaiment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead to a reduction in future payments or a cash refund.
Imien contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in
the period in which it arises.
Llmited by guarantee
Impact Training is a company limited by guarantee and accordingly does not have a share
capital. Every member of the company undertakes to contribute such amount as may be required
not exceeding £1 to the assets of the charitable company in the event of its being wound up
while he or she is a member. or within one year after he or she ceases to be a member.
31

Impact Training Nl Limited
Notes to the Financial Statements (continued)
Year ended 31 March 2024
Donations and legacies
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Donations
Donations and fundraising
Donated Asset
45,867
991
46,858
45,867
991
46,858
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Donations
Donations and fundraising
Donated Asset
3,738
558,433
3,738
558,433
562,171
562,171
Charitable activities
Unrestricted
Funds
Restricted Total Funds
Funds
2024
DEL TFS grant
LEMIS JAC grant
CFSP
Jobstart
Schools training
CIT Employability Project
Joinery project
ISCYP Hub income
Action Renewables
Independent training
GS Employability & Worklessness Programme
Community Foundation Grant
Elevate 22123 PHA
Business Eye Fund- CFNI
CLEAR
BCC Bridges to Prog l Across the Line
CDHN- Elevate
Fit for a King
Evening Enterprises
PHA
1,325,739
397.688
551,161
14,874
3.611
1,723,427
551,161
14,874
3,611
56,883
56,883
575
575
4,910
4,910
39,750
39,750
18,245
5,000
4,720
18,245
5,000
4,720
309
7,500
309
7,500
1.099,432
1.331.533
2,430,965
32

Impact Training Nl Limited
Notes to the Financial Statsments (Continued)
Year ended 31 March 2024
Charitable activities (c¢>ntinued)
Unrestricted
Funds
Restricted Total Funds
Funds
2023
DEL TFS grant
LEMIS JAC grant
CFSP
Jobstart
Schools training
CIT Employability Project
Joinery project
ISCYP Hub income
Action Renewables
Independent training
GS Employability & Worklessness Programme
Community Foundation Grant
Elevate 22123 PHA
Business Eye Fund - CFNI
CLEAR
BCC Bridges to Prog l Across the Line
CDHN - Elevate
Fit for a King
Evening Enterprises
PHA
1.115,168
344,576
561,012
24,688
1,207
1,459,744
561,012
24,688
1,207
7,263
44,195
3,257
650
1,049
10,196
2,707
34,750
4,000
3,000
6,121
12,000
7,263
44,195
3,257
650
1,049
10,196
2,707
34,750
4,000
3.000
6.121
12.000
1,137,583
1,038,256
2,175,839
Other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Management fees
Rent receivable
Refunds receivable
Room hire
42,000
40,703
2,125
42,000
40,703
2,125
71,354
2,615
620
71,354
2,615
620
74,589
74,589
84.828
84,828
Investment income
Unrestricted Total Funds Unrestricted Totsl Funds
Funds
2024
Funds
2023
Interest re￿1vable - gross
6.607
6,607
1,555
1,555
33

Impact Training Nl Limited
Notes to the Financial Statements (continued)
Year ended 31 March 2024
Expenditure on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Charitable Activities
Support costs
1.098,645
99,573
1,248.449
2,347,094
99,573
1.198,218
1,248.449
2,446,667
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Charitable Activities
Support costs
1.249,931
103,254
943,691
2,193,622
103,254
2,296,876
1,353.185
943,691
10. Expenditure on charitable activities by fund type
Activities
undertaken
directly Support costs
Total funds
2024
Total fund
2023
Charitable Activities
Governance costs
2.347,094
57,092
42,481
99.573
2,404,186
42,481
2.446,667
2.268,783
28,093
2.347,094
2,296,876
11. Analysis of support
Analysis of
Support
Costs
Total 2024 Total 2023
Staff costs
Premises
General office
Finance costs
Governance costs
36,544
12,646
6,224
1,678
42,481
36,544
12.646
6.224
1.678
42,481
50,798
15,847
6,775
1,739
28,093
99,573
99.573
103,252
12. Net income
Net income is stated after chargingl(crediting):
2024
2023
Depreciation of tangible fixed assets
99.550
63,800
34

Impact Training Nl Limited
Notes to the Financial Statements (continued)
Year ended 31 March 2024
13. Auditors remuneration
2024
2023
Fees payable for the audit of the financial statements
7.540
7,188
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows..
2024
2023
Wages and salaries
Social security costs
Employer contributions to pension plans
1,331.196
119,051
68,976
1,259,538
122,140
64,144
1,445,822
1,519,223
The average head count of employees during the year was 48 {2023'. 44). The average number
of full-time equivalent employees during the year is analysed as follows:
2024
No.
2023
No.
Impact Training
Job Assist Centre
29
19
31
13
48
44
The number of employees whose remuneration for the year fell within the following bands, were:
2024
2023
No.
No.
£60,000 to £69.999
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for
planning, directing and controlling the activities of the charity. The total compensation paid to key
management personnel for services provided to the charity was £129,407 (2023.'£116,128).
15. Trustee remuneration and expenses
The trustees were not paid or received any other benefits from employment neither where they
reimbursed expenses during the year.
35

Impact Training Nl Limited
Notes to the Financial Statements {continuedJ
Year ended 31 March 2024
16. Tangible fixed assets
Freehold Plant and Fixtures and
property machinery
fittings
Motor
vehicles Equipment
Total
Cost
At 1 Apr 2023
Additions
2,859,695
8.183
6.042
137,317
6,890
20,940
68,181 3,094,316
789
13,721
At 31 Mar 2024
2,859,695
14.225
144,207
20,940
68,970 3,108,037
Depreciation
At 1 Apr 2023
Charge for the
year
458,426
4.590
65,242
20,940
35,459
584,657
65,952
1,778
18,026
13,794
99,550
At 31 Mar 2024
524,378
6,368
83,268
20,940
49,253
684,207
Carrying amount
At 31 Mar 2024
2,335,317
7,857
60,939
19,717 2,423,830
At 31 Mar 2023
2,401,269
3,593
72.075
32,722 2,509,659
17. Investments
Investment
properties
Cost or valuation
At 1 April 2023
Additions
1,836,887
56,744
At 31 March 2024
1,893,631
Impairment
At 1 April 2023 and 31 March 2024
Carrying amount
At 31 March 2024
1,893,631
At 31 March 2023
1,836,887
All investments shown above are held at valuation.
36

Impact Training Nl Limited
Notes to the Financial Statements (continued)
Year ended 31 March 2024
17. Investments (￿ntinued)
Investment properties
Investment properties comprise-.
1. 236-242 Shankill Road, Belfast
2. 1 Merkland Place, Belfast
3. Unit 1.unit 2 and 14 Lanark Way. Belfast.
The fair value of the investment property has been arrived at on the basis of a valuation carried
out in February 2022 by Rea Estates, who are not connected with the company. The valuation
was made on an open market value.
18. Debtors
2024
2023
Trade debtors
Prepayments and accrued income
Other debtors
49,746
31,141
104,509
185,396
277,832
19,556
195,008
492,396
19. Creditors: amounts falling due within one year
2024
2023
Trade creditors
Accruals and deferred income
Social security and other taxes
Other creditors
18,815
10,764
23.346
9,124
85,403
23,244
62,049
108,647
20. Deferred income
2024
2023
At 1 April 2023
Amount released to income
1,158,012
(1,158,012)
At 31 March 2024
21. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £68.976 (2023.. £64,144).
37

Impact Training Nl Limited
Notes to the Financial Statements (continuedj
Year ended 31 March 2024
22. Analysis of charitable funds
Unrestricted funds
At
1 Apr 2023
Prior year
At
Income Expendtture Transfers adjustments 31 Mar 2024
General funds
Designated Fund
Share Capital
Revaluation Reserve
5,298.127 1.458,596 {1.145,380) (3,353)
5,607,990
11
312.416
(52,838)
5,610,554 1.458,596 (1.198,218) {3,353)
259,578
5,867,579
At
Prior year
At
1 Apr 2022 Income Expenditure Transfers adjustments 31 Mar 2023
General funds
Designated Fund
Share Capital
Revaluation Reserve
3,060,693 1,786,137 (1.321.832) 615,117 1.158,012 5,298,127
398.000
(398.000)
343.769
(31.353)
3,802.462 1,786.137 (1,353.185) 217,128 1,158,012 5.610,554
312,416
Restricted funds
At
1 Apr 2023
Prior year
At
Income Expenditure Transfers adjustments 31 Mar 2024
DEL TFS Grant
LEMIS (JAC)
Greater Shankill
Partnership
Jobstart
CIT Employability
Project
GS Employability and
Worklessness
Programme
Community
Foundation
Elevate PHA
CFNI- Business Eye
Fund
Clear
Belfast City Council
Digital Hardship Fund
Redundancy costs
Donations
Fit for a King
CFSP
PHA - Mental Health
Support
397,687 (400,943)
551.161 (672,518)
3,256
121.357
3.611
(3.611)
15.270
56.883
(72.153)
39,751
5.000
(44,158)
(5,712)
37
712
1,133
2,805
12,000
{1,133)
(2,805)
(20,546)
18,245
9,699
991
4,720
14,874
(991)
(4,817)
(14,874)
97
7,500
{4,188)
3,312
157,721 1,100,423 (1,248.449)
3,353
13.048
38

Impact Training Nl Limited
Notes to the Financial Statements fcontinuedj
Year ended 31 March 2024
22. Analysis of charitable funds (continued)
At
l Apr 2022
Prior year
At
Income Expenditure Transfers adjustments 31 Mar 2023
DEL TFS Grant
LEMIS (JAC)
Greater Shankill
Partnership
Jobstart
CIT Employability
Project
GS Employability and
Worklessness
Programme
Community Foundation
Elevate PHA
CFNI- Business Eye
Fund
Clear
Belfast City Council
Digital Hardship Fund
Redundancy costs
Donations
Fit for a King
CFSP
PHA - Mental Health
Support
344,576 (357.274) 12,698
561.012 (439.655)
121,357
24.688
1.207
(31,305)
(1,207)
6,617
6,768
44.195
(35,693)
15,270
2,707
34,750
4,000
(2,707)
(30,306)
(3,288)
4,444
712
3,000
6,121
12,000
(1,867)
(5.873)
1,133
2.805
12.000
2,557
34,516
239,000
(34.516)
(239,000)
280,284 1,038,256 (943.691) (217,128)
157,721
Transfers have taken place during the year from unrestricted ￿ndS to restricted to cover deficits
which have arisen.
Transfers have taken place in the prior year to remove redundancy costs of £239,000 to
unrestricted funds as the funds are available for any use, no restrictions are in place for the
usage of this. Furthermore, transfers have taken place from unrestricted funds to restricted funds
for DEL TFS grant, Greater Shankill Partnership and Clear in the year to cover any deficit in the
restricted funds.
39

Impact Training Nl Limited
Notes to the Financial Ststements (contlnuedj
Year ended 31 March 2024
23. Analysis of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Net assets
2,423,830
1,893,631
1.612,167
(62,049)
5.867,579
2,423,830
1,893,631
1,625,215
(62,049)
5,880,627
13,048
13,048
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Net assets
4,346,546
4,346,546
1,372,655
(108,647)
5,610,554
157.721
1,530,376
{108,647)
5,768,275
157,721
24. Ethical standards
In common with many other businesses of our size and nature we use our auditors to prepare
and submit returns to the tax authorities and assist with the preparation of the financial
statements.
25. Taxation
The Company is a registered charity, and as such is entitled to tax exemptions on income and
profits in furtherance of the charity's primary objectives.
26. Contingencies
A contingent liability exists to repay grants and Trust monies received should certain conditions
not be fulfilled by the charity. In the opinion of the Trustees, the terms of the Letters of Offers
have been, or will be, complied wtth and no liability is expected.
27. Analysis of changes in net debt
At
At 1 Apr 2023 Cash flows 31 Mar 2024
Cash at bank and in hand
1,037,980
401.839
1,439,819