Impact Training Nl Limited Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Restricted funds Total funds 2024 Unrestricted funds Total funds Note Income and endowments Donations ar)d legacies Charitable activities Other Irading activities Investment income Olher income 950 1.717.817 65,248 20.743 5.639 950 3.011.887 65,248 20.743 5,(i39 46,858 2,430.965 74,589 6.607 1.294.070 Total income 1,810,397 1,294,070 3.104,467 2,559,01g Expenditure Expenditure on charitable activities Total expenditure 10.11 1.677.054 1,303,118 2.980,172 2,446,667 1.677.054 1.303.118 2.980.172 2.446.667 Net income and net movement in funds 133,343 {9,0481 124,295 112,352 Reconciliation of funds Total funds brought fnrward Total funds carried forward .fj.R67.-57q 5,$18rJ.6?.7 5.76R.?75 6.000.922 4.000 6,004.922 5.880.627 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on payes 32 to 45 fomi part of these financial statements. 29
Impact Training Nl Limited Statement of Financial Position 31 March 2025 2025 2024 Note Fixed assets Tangible fixed assets Investments 17 2,491,780 18 2,505,510 2,423.830 1,893,631 4,317,461 4,997,290 Current assets Debtors Cash at bank and in hand 19 164,015 902,710 185,396 1,439,819 1,066,725 1,625,215 Creditors.. amounts falling due within one year Net current assets 20 59,093 62,049 1,007,632 6,004,922 1,563,166 5,880,627 Total assets less current liabilities Not assets 6.004,922 5,880,627 Funds of the charity Restricted funds Unrestricted funds 4,000 6,000,922 6,004,922 13,048 5,867,579 5.880,627 Total Gharity funds 23 These financial statements were approved by the board of trustees and authorised for issue on 17 September 2025, and are signed on behalf of the board by.. Mr lan Jamison Trustee MT Wllli Trustee In Mr Paul Magee Chariiy Secr tary The notes on pages 32 to 45 forni part of these financial ststements. 30
Impact Training Nl Limited Statement of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from operating activities Net income 124.295 112,352 Adjuslmenls for." Depreciation of tangible fixed assets Dividends. interest and rents from investments Other interest receivable and similar income Interest payable and similar charges Accrued expenbEbl(i¥lLVlllEI 104.178 111,879) (8.864) 2.236 726 99,550 {6.607} 1.678 112,480) Ghanges in.. Trade and other debtors Trade and other creditors 21.381 13,682) 228,391 307.000 {34.1181 467.375 Cash generated from operations Interest paid Interest received (2.236) 8,864 235.019 11,678) 6,607 Net cash from operating activities 472,304 Cash flows from investing activities Oividends, interest and rents from investments Purchase of tangible assets Purchases of other investments 11,879 1172,128) 1611,879} (772.128) (13,721) {56.7441 {70.4651 Net cash used in investing activities Net (decrease)Iln¢rease in 5h and cash equlvalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year (537.109) 1.439.819 401,839 1,037,980 902,710 1.439.819 The notes on pages 32 to 45 fomi part of these financlal statements. 31
Impact Training Nl Limited Notes to the Financial Statements Year ended 31 March 2025 General infomiation The charity is a public benefit entity and a private company lirnited by guarantee, regislered 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 finanal statements have been prepared in compliance wilh FRS 102. The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of R9.rnmmg.ndp.d prar.liep applicable lo charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP IFRS 1021) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. as modrfied by the revaluation of certain financial assets and liabilities and investrnent properties measured at fair value through income or expenditure. The financial ststemenls 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 estirnation 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 evenls Ihat 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 tnjstees for particular fvture project or commitment. Reslricled funds are subjected to restrictions on their expenditure declared by Ihe donor or through the terms of an appeal. and fall into one of Iwo sub-classes.. $tried income funds or endowment funds. 32
Impact Training Nl Limited Notes to the Financial Statements (coJ7finue<l} Year ended 31 March 2025 Accounting policies (¢onllnued) Incoming resources All incoming resources are included in the statement of financial activities when entidement 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 following 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 good5 unless this is impractical to measure reliably. in which case the value is derived from the cost lo the donor or the estimated resale value. Donated faulities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the conln"bulion of general volunteers. income from contracts for the supply of services is recognised with the delivery of the Contracted serviGe. This is classified as unrestrithd funds unless there is a coiilracludl requirement for il to be spent on a partiujlar purpose and returned if unspen( 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 lo which it relates-. expendlture on ralslry fun(15 includes the costs of all fundraising acttvities. events, non- charitable trading aclivities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its chartlable aims for the benefit of its beneficiaries, including those SUPPOrt costs and costs relating to the governance of Ihe tharity apportioned io charitable activities. 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 categorie5 refiectirbg the use of the resource. Direct costs attributable to a single activity are allocated direcuy to that activity. Shared costs are apportioned between the activities they contribute to orb a reasonable, justifiable and consistenl basis. Tangible assets Tangible assels 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. 33
Impact Training Nl Limited Notes to the Financial Statements {conlffnuedJ Year ended 31 March 2025 Accounting polFcie5 (continuedj Tangible assets [continue An increase in the carying amount of an asset as a result of a revaluation. is recognised in other recognised gains and losses. unless il 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 revaluats'on gain, in which case the Ioss 15 shown within other recognised gains and losses on the slaternent of financial activities. Depreciation Depreciation is calculated so as lo wrile off the cost or valuation of an asset. less ils residual value, over the useful economic life of that asset as follows: Freehold property JACS Fixtures and fittings Motor vehides Equipment 2gk straight line 12Yo Straight line 120/0 Straight line 200h straight line 200A straight line Investments Unli51ed vquily iiivttbliiients are irkbtially recorded at cost, and ub*CqUcn11Y mgasursd at fair value. If fair value cannot be reliably measured. assets are measured al cost less impairment. Listed investments are measured at fair walue with changes in fair value being recognised in income or expenditure. Investment property Investsnent property is initially recorded at cost. which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are reco9nised in income or expenditure. If a reliable measure of fair value is no Songer available without undue cost or efft)rt for an item of investrnent property. it shall be transferred to tangible asset5 and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. Investments in associates Investments in associates accounted IC in accordance with ihe cost model are recorded at cost ess 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 al fair value, with changes in fair value taken Ihrough income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. 34
Impact Training Nl Limited Notes to the Financial Statements (¢ondnuedJ Year ended 31 March 2025 Accounting policies (continued) Investments in associates {continuedJ Dividends and othér distributions received from the investment are recogni5ed as income without regard lo whether the dislribulions are from accumulated profits of the associate arising before or after the date of acquisilion. 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. Investsnents in jointly conlrolled 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 lo 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 wthout regard to whether the dislribulions are from accumulated profits of Ihe joint venture arising before or after the date of aGquisition. 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. Where the carrying value eXed5 the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting dale. For the purposes of impairment testing. when it is not possible to estimate the recoverable cirnuunt of an individual asset, an e5titnate 15 made of Ihe recDVEl<ible ainounl of Ihe ISh- generating unit lo which the asset belongs. The cash-generaling unit is the smallest idenlifiable group of assets that includes the assel 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 lo each of the CaSheneratIng units that are expected to benefit from the synergies of the combination. irrespeclive of whether other assets or liabilities of the charity are assigned lo those units. Financial instruments A financial asset or a financial liability is rec¢)3nised only when the charity becomes a party lo the contractual provisions of the instrumenL Basic financial inslruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured al the cash or other considerats'on expected to be paid or received and nol discounted. 35
Impact Training Nl Limited Notes to the Financial Statements (continutdj Year ended 31 March 2025 Accounting policies {conlinuetlJ Financial instruments (contlnuedj Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise 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 recogniserj at lair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interesl that is not a market rate, in which case the asset is measured at the present value of the fulure payments discounted at a market rale of InleresL for a similar debt inslrutnenl. Other financial inslrument5 are SubseqUenY measured at fair value, with any changes recognisgd in thg s13tement of financial activities. with the exception of hedgino in%tnimp.nt* in designated hedging relalionship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impaimienl at the end of each reporting date. If there is objective evidence of impaim)enl. an impairment 105S 15 recognised under the appropriate heading in the statement ol 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 impairment are recognised immediately. to the exlenl that the reversal Iloes not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairmenl not previously been recognised. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related Servi is provided. Prepaid contributions are recognised as an asset to the extent that the prepayrnent will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly wthin 12 months of the end of Ihe reporting date in which the employees render the related service, Ihe 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. Limited by guarantee Impact Training is a company lirnited by guarantee and accordingly does not have a share capital. Every membeF 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. 36
Impact Training Nl Limited Notes to the Financial Statements (Continued) Year ended 31 March 2025 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2025 Donations Donations and fundraising 950 950 Unrestricted Funds Restricted Tolal Funds Funds 2024 Donations Donations and fundraising 45.867 991 46.858 Charitable activities UnreslFiGled Funds RtrIb1¥ Total Fuiids Funds 2025 DEL TFS grant LEMIS JAC grant CFSP Jobstart Schools training CIT Employability Project Joinery project Independent training Community Foundation Granl BCC Bridges to Prog l Across the Line CDHN - Elevate Fit for a King Evening Enterprises PHA OCN Digital Hardship 1.716.224 649.291 660.582 2.265,515 660,582 17.718 17.718 1.593 41,339 1.593 41.339 4,000 1.000 4.000 1.000 11,500 1.500 7.140 11,500 1,500 7.140 1.717.817 1,294.070 3.011.887 37
Impact Training Nl Limited Notes to the Financial Statements {contiffl7uedJ Year ended 31 March 2025 Charitable activities (continued) Unrestricted Ftjnds Restricted Tolal Funds Funds 2024 DEL TFS grant LEMIS JAC grant CFSP Jobstart Schools training IT F.mplnyahility Prnject Joinery project Independent training Community Foundation Grant BCC Bridges to Prog l Across the Line CDHN - Elevate Fit for a King vening Enterprises 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 4.910 39.750 18,245 5,000 4.720 309 7.500 575 4.910 39,750 18.245 5,000 4,720 309 PHA OCN Digital Haidship 7.500 1,331.533 1.099.432 2.430,965 other trading activities Unrestricted Total Funds Unreslricted Total Funds Funds 2025 Funds 2024 Rent receivable Refijnds receivable Room hire 64.281 967 64.281 967 71.354 2,615 620 71.354 2.615 620 65.248 65,248 74.589 74.589 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Income from listed inveslments Interest receivable - gross 11.879 8,864 11.879 8,864 6,607 6.607 20,743 20,743 6,607 6.607 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Other income 5.639 5,639 38
Impact Training Nl Limited Notes to the Financial Statements (contlnued) Year ended 31 March 2025 10. Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2025 Charitable Activities Support costs 1.569.918 107.136 1.303.118 2.873.036 107,136 1,677,054 1,303,118 2.980,172 Unroslrictgd 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 11. Expenditure on charitable activities by fund type Actlvldes undertaken directly Support costs Total funds 2025 Total fund 2024 Charitable Activities Govemance costs 2.873.036 84.547 22.589 2.957.583 22.589 2.427.034 19,633 2,873,036 107.136 2.980.172 2.446,667 12. Analysis of support Analysis of Support Costs Total 2025 Total 2024 staff costs Premises General office Finance costs Governance costs Accountancy costs 28,760 14.719 3.956 4.198 22.589 32.914 28,760 14.719 3,956 4,198 22,589 32,914 36,544 12.646 6.224 1,678 19,633 22,848 107,136 107,136 99.573 13. Net income Net income is stated after chargingl{crediting): 2025 2024 Depreciation of langible fixed assets 104.178 99,550 39
Impact Training Nl Limited Notes to the Financial Statements {¢ontffnuedJ Year ended 31 March 2025 14. Auditors remuneration 2025 2024 Fees payable for the audit of Ihe financial statement5 7,925 7,540 15. Staff costs The total staff costs and employee benefits for the reporting pertod are analysed as follows". 2025 2024 Wages and salaries Social security costs Employer contributions to pension plans 1,486.522 136.081 83.605 1.331,196 119,051 68.976 1,706.208 1,519,223 The average head count of employees during the year was 50 (2024.. 48}. The average number of full-time equivalent employees during the year is analysed as follows.. 2025 2024 Impact Training Job Assist Centre 34 16 29 19 48 The nvmber of employees whose remuneration for the year fell within the following bands, were.. 2025 2Q24 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 managèmènt personnel for services provided to the charity was £134.138 (2024=£129,4071. 16. Trustee remuneration and expenses The trustees were not paid or received any other beneffls from employment neither where they reimbursed expenses during the year. 40
Impact Training Nl Limited Notes to the Financial Statements {conlinuedl Year ended 31 March 2025 17. Tangible fixed assets FehOld Plant an(1 Fixtures and property machinery fittrngs Motor vehicles Equipment Total Cost At 1 Apr 2024 Additions 2,859.695 14.225 144.207 147,584 20,940 68,970 3,108,037 24.544 172,128 At 31 Mai 2025 2,859.695 14.225 291.791 20.940 93.514 3.280,165 Depreciatlon At 1 Apr 2024 Charge for the year 524,378 6,368 83.268 20.940 49.253 684.207 52.B38 1,269 34,588 15.483 104,178 At 31 Mar 2025 577.216 7.637 117.856 20.940 64,736 788,385 Carrying amount At 31 Mar 2025 2.282.479 6,588 173.935 28.778 2,491,780 At 31 Mar 2024 2,335,317 7,857 60,939 19.717 2,423,830 18. Investments Listed Investment investments properties Total Cost or valuation At 1 April 2024 Additions 1.893,631 1.893.631 611.879 611.879 611.879 At 31 March 2025 1.893.631 2.505,510 Impairment At 1 April 2024 and 31 March 2025 Carrying amount At 31 March 2025 611.879 7,893.631 2.505.510 At 31 March 2024 1,893.631 1.893,631 All investments shown above are held at valuation. 41
Impact Training Nl Limited Notes to the Financial Statements (conthivedj Year ended 31 March 2025 18. Investments (continued) Investrnent properties Investment properties comprise.. 1. 236-242 Shankill Road, Belfast 2. 1 Merkland Place, Belfast 3. Unil 1,Unil 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 connecied wtth the company. The valuation was made on an open market value. Financlal assets held at fair value Fixed asset inveslrnent5 are slated at cost less provision for diminution in value. The listed investments are valued by Evelyn Partners UK and held at market value. 19. Debtors 2025 2024 Trade debtors Prepayments and accrued income Olher ijebtors 15.073 32.334 115.608 49,746 31,141 104.509 164,015 185,396 20. Creditor5: amounts falling due withln one year 2025 2024 Trade creditors Accruals and deferred income Social security and other taxes Other creditors 10,219 48.690 18,815 10.764 23.346 9,124 59,093 62,049 21. Deferred income 2025 2024 Amount deferred in year 37.200 22. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribub'on plans was £83,605 {2024= £68.976). 42
Impact Training Nl Limited Notes to the Financial Statements (conlinue Year ended 31 March 2025 23. Analysis of charitable funds Unrestricted funds At 31 March 202 At 1 April 2024 Income Expenditure Transfers General funds Share Capitsl Revaluation Reserve 5,607,990 1.810.397 (1,622,051) 5.796.336 259,578 5.867.579 155.003) 1.810.397 {1.677,054) 204.575 6.000,922 At 31 March 202 1 April 2023 Income Expenditure Transfers General funds Share Capital Revaluation Reserve 5.298.127 1,458.596 (1.145.380) (3.353) 5,607,990 312.416 (52.838) 1.458.596 (1.198,218) 259.578 5.610,554 (3,353) 5,867,579 Restricted funds At 31 March 202 At 1 April 2024 Income Expenditure Transfers DEL TFS Grant LEMIS IJAC) Jobstart CIT Employabilty Project Community Foundation 549.293 660.580 17.718 (549,293) (660,5801 (17,718) 41.339 (41,339) (37) 37 43
Impact Training Nl Limited Notes to the Financial Statements (confinuedj Year ended 31 March 2025 23. Analysis of charitable funds (¢ontlnved) PHA CFNI- Business Eye Fund Clear Belfast City Council Digital Hardship Fund Donations Fit for a King CFSP PHA- Mental Health Support CDHN Elevate 9.699 4.000 7.140 1.500 (13,699) (7.140) (1.500) 3.312 11.500 1.000 (10.812) (1.000) 1.294,070 (1.303.118) 4.000 13,048 4.000 At 31 March 202 At 1 April 2023 Income Expenditure Transfers DEL TFS Grant LEMIS IJAC) Jobstart CIT Employabilty Project Community Foundation PHA CFNI- Business Eye Fund Clear Belfast City Council Digital Hardship Fund Donations Fit for a King CFSP PHA- Mental Health Support CDHN Elevate 397.687 551.161 3.611 1400.943) {672,518} {3.6111 3,256 121.357 15.270 4,444 712 56.883 39.751 5.000 (72,153} (44,158} (5.7121 37 1,133 2.b05 12.000 (1,133) (2,8US1 (20.546) 18,245 9,699 991 4,720 14,874 (991) (4,817) {14.8741 97 7,500 (4.1881 3.312 157.721 1.100.423 (1.248.449) 3.353 13.048 Transfers have taken place inthe prior year from unrestricted funds to restricted lo cover deficits which have arisen.
Impact Training Nl Limited Notes to the Financial Statements (contlnuedj Year ended 31 March 2025 24. Analysis of net assets between funds Unrestncted Funds Restricled Total Funds Funds 2025 Tangible fixed assets Inveslments Current assets Creditors less than 1 year Net assets 2,497.780 2,505.510 1.025,525 (21,893) 6,000.922 2.491.780 2,505,510 1,066.725 159.093) 6,004,922 41.200 (37.200) 4,000 Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed a55ets Inveslments Current assets Creditors less than 1 year Net assots 2,423,830 1,893.631 1,612.167 {62,049) 5.867,579 2,423,830 1,893,631 1,625,215 162,0491 5,880,627 13.048 13.048 25. Ethical standards In common with many other businesses of our size and nature we use our au(iitors to prepar6 and submit returns to the tax authorities and assist with the preparation of the financial statements. 26. Taxation The Company is a registered charity. and as such is entitled to tax exemptions on income and profits in furtherance of the charivs primary objectives. 27. Contingencies A contlngent 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 with and no liability is expected. 28. Analysis of Changes in net debt At At 1 Apr 2024 Cash flows 31 Mar 2025 Cash at bank and in hand 1.439,819 (537.109) 902,710 45