STEPPING STONES NI FINANCIAL STATEMEwrs FOR THE YEAR ENDED 31ST MARCH 2023 ( A COMPANY LIMITED B Y GUARANTEE AND NOT HAVING A SHARE CAPITAL) COMPANY REGISTRATION NUMBER NI 031411 CHARITY REGISTIL4TION NUMBER NIC 100727 O'HARA SHEARER CHARTERED ACCOUNTANTS AND STATUTORY AUDITORS 547 FALLS ROAD BELFAST BTII 9AB
STEPPING STONES NI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 CONTENTS Page Members and Professional Advisors Trustees Annual Report (including the Statement of Directors Responsibilities in respect of financial statements) Report of the Independent Auditors to the Members, 8-10 Accounting Policies 11-13 Statement of Financial Activities (incorporating the income and expenditure account) 14 Balance Sheet 15 Statement of Cash Flows 16 Notes to the Financial Statements 17-23 Page I
STEPPtNG STONES NI Fll¥ANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 OFFICERS AIYD OTHER INFORMATION Directors Michael Scott (Chair) Kenneth Alderice Belinda ONeill (Resigned 30th January 2023) Karen Cannichael Kieran Corrigan Michael Drayne Brenda Mcmullan Cormac O'Donnell (Appointed 31 st March 2023) Diana FaTrelly (Resigned I st December 2022) Melanie Jones (Resigned 4th April 2022) Secretary Paula Jennings Registered Office Stepping Stones NI 39 Seymour Street Lisburn County Antrim BT27 4SY Auditors O'Hara Shearer Chartered Accountants & Statutory Auditors 547 Falls Road Belfast BTII 9AB Solicitors Donaldson Mcconnell & Co Solicitors 8-1 O Graham Gardens Lisburn County Antrim BT28 IYS Bankers Danske Bank 62-66 Bow Street Lisburn BT28 IYS Compauy Registration NuDJber Nl 031411 Charity Commissioll for Northern Ireland Registration Number MC 100727 Page 2
STEPPING STONES NI FINANCIAL STATElktENTS FOR THE YEAR ENDED 31ST MARCH 2023 STATEMENT OF DIRECTORS RESPONSIBILITIES The directors are responsible for preparing the Directors, Report and the financial statements in accordance with applicable law and regulations. Company Law requires the directors to prepare financial statements for each financial year. The Trustees, who are also directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 st March 2023. The Trustees confirm that they comply with the requirements of the Charities Act (Northern Ireland) 2008 and Accounting and Reporting by Charities: Statement of Recommended Practice which applies to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the cotnpany for that period. In preparing those fanCIal statements, the directors are required to: select suitable accounting policies and then apply them consistently" - make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are suffIcient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the conipany 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the directors are aware- - there is no relevant audit information of which the companys auditor is unaware. and - the directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit inforniation and to establish that the auditor is aware of that infomiation. By order of the board: MICHAEL scorr DIRECTOR ]L4RE DIREC HAEL DATE 6th December 2023 DATE 6th December 2023 Page 7
STEPPING STONES NI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS, Opinion We have audited the financial staternents of Stepping Stones Nl (the 'charity) for the year ended J l March 202J which comprise the Statement of Financial Activities, th¢ Balance SheeL the Statement of Cash Flows and the notes to the financial statements, including a sumrnary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 Thefiplancial Reporting Standard applicable in the UK ¢md Republic ofIrel(md (United Kingdorn Generally Accepted Accounting Prarti¢e). In our opinion, tbe financial statements: give a true and fair view of the state of the charttable cotnpany's affairs as at i l March 202J and of its incoming resources and application of resources, including its income and expenditure for the year then ended. have been properly prepared in accordance with the Financial RetK)rting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l Janauary 2015) - (Charities SORP (FRS102)). the Financial Reporting Standard applicable Èn the UK and Republic of Ireland (FRS 102). have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Internation Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern We have nothing to rqx)rt in respect of the following matters in relation to which the ISAS (UK) require us to report to you where.. the trustees, use of the going concern basis of accounting in the piepardtion of the financial statements is not appropriate. or the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. Other information The otheT information comprises the inforniation included in the annual reporL other than the fInancial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other inforniation an except to the extent otherwise explicitly stated in our reporL we do not express any forn] of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibÈlity is to read the other infonnation an(L in doing so, consider whether the other information is materially inconsistent with the flnancial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misststernent in the financial statements or a material misstaternent of the other inforn]ation. If, based on the work we have performed, we conclude that there is a material misstaternent of this other Informatio we are required to reEK)rt that facL We have nothing to report in this regard. Page 8
STEPPING STONES NI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 REPORT OF THE INDEPENDEl+rt AUDITOR TO THE MEMBERS, Matters on which we are required to report by exception In the light of the knowledge and understanding of the Trustees and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothino to report in respect of the following rnatt5 in relation to which the Companies Act 2006 requires us to report to you if. tn our opinion: sufficient accounting records have not been kept. or the financial statements are not in aeernent with the accountino records" or certain disclosures of trustees, Temunerdtion specified by law are not made. or we have not received all the inforniation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Staten]ent of Trustees. Responsibilities. the trustee& who are also the directors of the charity for the purpose of company law, are responsil)le for the prepardtion of the fu]ancial statements and for being satisfied that they give a true and fair view, and for such internal ¢ontrol as the directois determine is necessary to enable the preparation of fancial statements that are free from tnaterial mi55tatemenL whethei due to fraud or eTror. In preparincr the financial statements, the tmstees are responsible for assessincr the ehartty's ability to continue as a going concern, disclosints as applicable, tnatters related to tsoino concern and usints the going concem basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable &8surance about whether the fllwicial statements as a whole are free from material misstatement, whether due to fraud or eOr. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the attetrate, they could reasonably be expected to influence the ecollomic decisions of useT5 taken on the basis of these fmancial statements. Tegularities, including fraud. are instances of non-compliance wtth laws and regulations. We desig procedures in line with our responsibilities. outlined above, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irrecvularities, including frau4 is detailed below. Explanation as to what extent the audit Was considered eapable of detecting irregularities, including fraud The objectives of our audit in respect of fraud, are to identify and assess the risks of material misstaternent of the financial statements due to fraud. to obtain sufficient appropriate audit evidence regarding the &ssessed risks of material misstatement due to fraud, through desi.trnincr and implernentino appropriate responses to those assessed risks. and to respond appropriately to instances of fraud or suspected fraud identified during the audiL HoweveT, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the Charity. Our approach was &s follows.. We obtained an understanding of the legaI and regulatory requirements applicable to the charity and considered that the most si.trnificant are the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l Janaury 2015) - {Charities so1 (FRS 102). Enquiry of managernenL those charged with governance aDd the entity's solicitor5 around actual and potential litigation and claims. Enquiry of entity staff in compliance functions to identify any instances of any non-compliance with law5 and regulations. Reviewino fmancial statement disclosures and testincv to SUPPOttino docurnentation to assess compliance with applicable laws and regulations. Page 9
STEPPING sfoNES NI FINANCIAL %fATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS, Auditing the risk of management override of controls. including thmugh testing journal etttries and other adjusitnents for appropriateness, and evalUIng the bwsiness rationale of signifi(t transactions outside the normal course of busine5S. As part of an audit in accordance with ISAS (UK) we exercise professionat judgement and maintain professional scepticism throughout the audit. We a]50'. Identify and assess the risks of material mi&%tatement of the financial statements, whether due to fraud or error. design and ptrform audit procedures resFonsive to those risks. and obtain audit evidence that is sufficient and appropriate to provide a b&5is for our opinioTL The risk of not detecting a materia] misstslement resulting from frdud is higher than for one resulting from error. &8 fraud may involve collusion. forgery. intentional omissions. isrcprcsentations, or the override of internal control. Obtain an understanding of interna] control relevant to the audit in order Éo design audit procedures that are appropriate in the cir¢umstances. but not for the Purwbses of expressing an opinion on the effectiveness of the company's inlema] control. Evaluate the appropriateness of accounting polictes used and the re&sonableness of accounting estimates and related disclosures made by the directors. Conclude on the 8ppropriat¢ness of the directOTS' use of the going concern basis of accounting an(L based on the audit evidence obtained, whether a materiat uncertsinty exists relatd to events or conditions that may cast significant doubt on th¢ charity's ability to continue as a going concern. If we concludc that a matcrial uncertainty exists, we are required to drdw attention in our auditovs rew>rt to the related disclosures in the financial Statements or. if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidcnce obtained up to our auditols retx)rt. However, tllre events or conditions may cause the charity to cease to continue &$ a going concem. Eva]uate the overall presentation, Structure and content of thc financial statements. tncluding the disclosures. and whether the finan¢iaI statements represent the underlying transactions and events in a manner that achieves fair presentation. A rther description of our restK)nsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: httpJlwww.frc.org.uk/auditorsresrx)nsibilities. This description fornis part of our auditof s reporL We communicate with those charged with 8ovemance regardin& among other matters. the planned s¢ope and timing of the audit and si1f]cant fmdings. including any significant deficiencies in intema] control that we identify during our audiL Use of our report Thi5 report 15 made solely to the charitable COMpanS members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and regulations made under that ACL Our audit work has been undertaken so that we might state to the charitable company's members those matte]3 we are required to state to them in an audito, rewrt and for no other purpose. To the fullest extent pennitted by law, we do not accept or asstune reswpnsibility to anyone other than the charitable company and its ernbers as a , for our audit worl for this reporL or for the opinions we have forni LAWR CE SHEARER F.C.A., Sejkior Statstory Auditor FOR AIYD ON BEHALF OF O'IL41L4 SHEAREIL Ststutory Auditor O'HARA SHEARER CFL4RTERED AccouNfANTS AND STATUTORY AUDITORS 547 Falls Road Belfast BT119A Dated: Page 10
STEPPING STONES NI FINANCIAL STATElENTs FOR THE YEAR ENDED 31ST 4Cll 2023 STATEMENT OF ACCOUNTING POLICIES Accounting Convention and Basis of Accounting The financial statements have been prepared under the historical cost convention. The fKnancial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard which applies in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Going Concern At the time of approving the fmancial statements, the trustees, have a reasonable expectation that the charity has adequate resources to continue in operational existence foi the foreseeable future. Thus the trustees, continue to adopt the going concern basis of accounting in preparing the financial ststements. Income Recognition Income is recognised when the Charity has entitlement to the nds, any perforniance conditions attached to the item(s) of income have been meL it is probable that the income will be received and the amount can be measured reliably. Interest Receivable Interest on funds held is included when receivable and the amount can be measured reliably- this is nom]ally upon notification of the interest paid or payable by the Bank. Resources Expended All expenditure is accounted for on an accruals basis and is classified under headings that aggregate all costs related to the category. Fundraising costs include the costs of advertising, producing publications, printing and mailing fundraising material, and staff costs in these areas. Costs of charitable activities include direct expendittire incurred through operational activities. Governance costs represent the costs associated with the governance aangernents of the charity which relate to the general running of the charity as opposed to those costs associated with fundraising or charitable activity. Fixed Assets All tangible fixed assets are recorded at cosL Page 11
STEPPING STONES NI FINANCIAL STATEMEwrs FOR THE YEAR ENDED 31ST MARCH 2023 STATEMENT OF ACCOUNTING POLICIES Continued Depreciation Depreciation is calculated to write off the cost of fixed assets over their estimated useful lives at the following rates: Freehold Property Improvements to property Fixtures and fittings Computer equipment 20/0 straight line I 00/0 Straight line 20 % straight line 25 % straight line Investments Unlisted equity investments are initially recorded at COSL and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impainnent. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Repairs and Renewats All repairs and renewals are written off &s incurred Pension Costs The charity does currently operate a defined conribution pension scheme. Debtors and Prepayments Trade debtors and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Creditors and Provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are nonnally recognised at their settlement amount after allowing for any trade discounts due. Financial Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Foreign Currencies Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net movement in funds. Page 12
STEPPING STONES NI FINANCL4L STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 STATEMENT OF AccouwfING POLICIES Continued Fulld Accounting Unrestricted ndS are general funds that are available for use at the Trustees, discretion in furtherance of the charitable objectives of the charity unless the funds have been designated for other purposes. Designated ndS are unrestricted funds set aside by the trustees out of unrestricted funds for specifi ture purposes. Restricted funds are those given for use in a particular area or for specific purposes, the use of which is restricted to that area or puSe. Endownment funds are subject to specific conditions by donor5 that the capital must be maintained by the charity. The income received from funders depends on the chaTity meeting detailed criteria on expenses plans. Grants given under such conditions are also given subject to them being obtained for in connection with the furtherance of the charity's aims and objectives. Such income can be repayable to the nder if such expenses plans and criteria are not met. Such income is only deferred when the donor specifies that the granudonation must only be used in tUre accounting periods. or the donor has imposed conditions which rnust be met before the charity h&$ unconditional entitlemenL Income from charitable activities includes income received under contrdct or where entitlement to grant funding is subject to specific perfoTmaThce conditions is recognised as earned as the related goods/services are provided. Grant income included in this category provides funding to support perforniance activities and is recognised where there is entitlemen¢ certainty of receipt and the amount can be measured with sufficient reliability. Income is deferred when: feeslperfonnance related grants are received in advance of the perfoTmance/event to which they relate. Reserves Policy Stepping Stones Nl reserves policy is to maintain a sulricient level of reserves to enable operating activities to be maintatned for a period of at least 3 to 6 months in the event of major funding streams ending. The reserves policy aIso takes account of covering costs in the event of closure, to cover redundancies, rents, and fees that are due including statutory audit fees. It also takes account of potential risks and contingencies that may arise from time to time. Stepping Stones Nt maintain unrestricted reserves if accrued should be sed for the PUTposes which meet the aims and objectives of Stepping Stones NI. The board should monitor and review the amount of unrestricted reserves monthly in addition to the level of any restricted reserves. Page 13
STEPPING STONES NI STATEMENT OF FtNANCIAL AcfiN'ITIES the income and ex FOR THE Tr'EAR EDED 31ST MARCH 2023 inco oratin enditure account Unrestricted Restricted Endownment Fund5 Fund5 Fllnd5 TOTAL 2023 TOTAL 2022 NOTES INCOlE AND ENDOWNfvIEpifs FROM: Donations and legacies tncotne from investments Incom¢ from charitable activities tn¢ome frorn other trading activities 5.673 1.216 1.852 335.614 5.673 4.988 l.216 171 I,i09.431 1.348.642 J92.571 196,977 IJ07.579 56.957 TOTAL INCOME AND ENDOWNMET4TS 344J55 lJ64,S36 1,708.891 1,550,778 EXPENDITURE ON: Expendittwe on raising fimds Expenditure on ctwiiable activities Other expenditure Net gain(losSes) on investhients 118A03 322.190 118,JOJ 76.050 1.684,707 1.531,316 1.362.517 TOTAL RESOURCES EXPENDED 440.493 1.362.517 I,80i,010 1,607266 NET INCOMEI{EXPENDITURE) {96,138) 2,019 194.1191 156,5881 Transfers between fiu)ds NET MOVEIWIENT IN FUNDS (96.1381 2,019 194,1191 (563881 RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD 885,163 5,000 890,16J 946,751 Prior year adjustment TOTAL FUNDS CARRIED FORWARD 789.025 7.019 796,044 890,163 The Statement of Financial Activities iTrclude5 all gal5 2nd losses in the yeAr And therefore ststtment of Total Recognised Gains and Losses Dot been prepAred All Of the above aThouDts relate to continuing activities The attDrbJPOThying 4ccoullting poJiciE5 alld the note% fortD Part of these fillaDrial statements P88e 14
STEPPING STONES NI BALANCE SHEET AS AT 31ST MARCH 2023 2023 2022 NOTES FIXED ASSETS Tangible assets Investments 373,853 386,988 10 373,853 386,988 CURRENT ASSETS Stocks Debtors and prepayments C&sh at bank Cash in hand 10,581 195,726 533,059 1,821 741,187 8,234 168,379 809,53 E 1,526 987,670 12 Creditors: amounts falling due within one year 13 (114,828) (254,805) NET CURRENT ASSETSI(LIABILITIES} 626,359 732,865 TOTAL ASSETS LESS CURRENT ASSETS/( LIABILITIES ) 1,000,212 1,119,853 Creditors: amounts falling due after more than ODe year 14 (204,168) (229,690) NET ASSETSI(LIABILITIES) 796,044 890,163 FUNDS: ENDOWNMENT FUNDS UNRESTRICTED INCOME FUNDS 15116117118119120 789,025 885,163 RESTRICTED INCOME FUNDS 15116117118119120 7,019 5,000 796,044 890,163 APPROVED ON BEHALF OF THE BOARD OF DtREcfoRS . MICHA L SCOTT DIRECTOR EL DIRECTOR DATE 6th December 2023 DATE 6th December 2023 The xe¢ompanying accounting policies and Dotes form part ofthese financial ststements Page 15
STEPPING STONES NI STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2023 2023 2022 NOTES CASHFLOWS FROM OPERATING ACTIVITIES Cash generated from operations 16 (241,754) 24,189 Net cash inflow/(outflow) from operating activities (241,754) 24,189 Investing aetivities Investrnent income Purchase of tangible fixed assets Acquisition of investments Amounts owed between funds Disposal of investTnents Disposal of tangible fixed assets 171 (34,423) (43,946) 10 146,430 Net cash from investing activities (34,423) 102,655 Increase/(deerease) in cash and cash equivalents in the year (276,177) 126,844 Cash and cash equiv21eDts at the beginning of tbe year 811,057 684,213 Cash and cash equivalents at the end of the year 11 534,880 811,057 Relating to: Cash at bank 2nd in hand li 534,880 811,057 Page 16
STEPPING ¥foNLS NI OTLS TO TFtE FINANCIAL STATEMENrs YEAR ENDED 31 .IAR H 2023 I. DONATIONS AND LEGACIES Unrtstitied Restrtea FllDds FllDds unreStrled Funds Restricted Fd$ 2023 2022 Donatio Legacie5 5.673 5.673 4.988 4.988 5.673 5.673 4.988 2. INCOME FROM INVESTMENTS Uthrestrirttyj F1)d5 Rtstritttd Funds Uthresiricted Futhds Restrictt FuDd5 2023 2022 Sncome frorn UK listed investtnents Incom¢ frorn ¢h 1216 1216 171 171 1216 1.216 3. INCOtE FROM CHARITABLE AcmiTIES Ullrestricttd Funds Rc5trided Fuwds Unrt5tricted Re5triete(i Funds 20ZJ 2022 South Ete[ Health and Care Trust Stepping Stones to Employmerti- ESF- DE- Dfc Business Services Organisaiton- Special Reco11tion Grant Lisburn and Castlereagh City Counca HM Revenue & Custo5 Youth Servi¢e- ESF- DIE Newry. Mourne and Domm CowKil Ards and North Down Councfl Annagh, Banbridge and CrdigTh)n Councjl Capithi Grani Rel¢ed Sundry illCDtne 291 J12 866.530 35.018 23.156 291J12 866.530 35.018 23.156 280.269 352.052 280269 727J99 375,347 105,000 69.556 71,669 10,000 36.000 23,?27 25,522 105.000 69.556 71.669 10,000 36.000 23227 25 522 10.000 40558 15.483 25522 10.000 40558 15.483 25.522 1.852 1.852 Le5s.' Deferred Incom¢ (SeeNore 12) 1.852 lJQ7.579 1.309.431 375.347 973,295 l J48,642 4. INCOME FROM OTHER TPADING ACTITrITIES ujre5t¢ FuDds ReStrted Fu•d5 Upre5tri¢led Fund5 Restricted Fund$ 2023 2022 Trading Income Fundraising Training Fec5 Other Income 334,556 1.058 334556 54.443 3 J72 190.819 2J94 3.534 330 190.819 2294 3,534 330 53J85 3.5T2 335.614 56.957 392.571 196,977 196.977 Pagc 17
sTEPPING.SToES YI NOTES T THE FI)i AIYCI.4L ST.4TEMENTS FOR THE YEAR ENDED 3isr 11.4RCH 2023 S. EXPENDITURE ON IL41SING FUNDS L.Art51rltied Restrled Funds Funds Unre5tri¢ted Rc5tricted FutLd$ Funds 2023 2022 Direct eipeuditure 118J03 118J03 7&050 76,050 & EXPENDITURE ON CHARITABLE ACTIVITIES L'nre5tri¢ted Restricted Funds Unre5tri¢t¢d Re5tritttd FutLd$ Funds 2023 2022 Dlrect expendilure 229.463 1 J2&565 I.555,028 392,28S 9&4,988 1.377,273 SrLPPOrt Costs Governance costs 91727 3&952 129.679 I54,{3 154.043 TOTAL EXPENDITURE ON CHARfrABLE AcnvrriES 32LI90 1 J61517 I,684,707 $46J28 984.988 1,531,316 7. NET GAITrISIILOSSESI ON NVEMIENTS Nei Igains)llosses on investments Page 18
STEPPING STONES NI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 7. NET (OUTGOING)/ INCOMING RESOURCES FOR THE YEAR This is stated after chargingl(crediting} 2023 2022 Auditors remuneration Depreciation 4,965 47,558 5,296 45,831 8. SALARY COSTS AND EMOLUMENTS 2023 2022 Total staff costs were as follows: Wages and salaries - key management personnel Wages and salaries - other staff Employer social security costs - key management personnel Employer social security costs - other staff Employer social security costs - SMP & SPP Recoverable Employer social security costs - Employment Allowance 191,178 179,909 1,059,443 1,004,127 36,049 153,110 (23,669) (5,000) 75,517 1,411,111 1,259,553 The average monthly number of employees during the year was as follows: 2023 Number 93 2022 Number 58 Trustees, remuneration and benefits There was no trustees, remuneration or other benefits for the year ended 3 1st March 2023. (2022: £Nil) Trustees, Expenses There were no trustees, expenses paid for the year ended 31 st March 2023. (2022: £Nil) Page 19
STEPPING STONES NI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 9. TANGIBLE FIXED ASSETS Freehold Improvements Fixtures & Computer Property to Property Fittinos Equipment Total COST As at 1st April 2022 563,028 42,335 154,822 49,641 809,826 Additions Disposals 28,691 5,732 34,423 As at 3 1st March 2023 563,028 42,335 183,513 55,373 844,249 DEPRECIATION As at 1st April 2022 262,885 9,213 108,816 41,924 422,838 Charge for year Eliminated on disposal 11,261 4,233 27,287 4,777 47,558 As at 3 1st March 2023 274,146 13,446 136,103 46,701 470,396 Net book value 2023 288,882 28,889 47,410 8,672 373,853 Net book value 2022 300,143 33,122 46,006 7,717 386,988 11. CASH AT BAfiK 2023 2022 Danske Bank - Current Accounts Danske Bank - Investment Accounts 151,043 382,016 358,732 450,799 533,059 809,531 Page 20
STEPPING STONES NI NOTES TO THE FtNANCI.4L STATEMENTS FOR THE YEAR ENDED 31ST H 2023 12. DEBTORS.. AMOUNTS FALLING DIIE WITHIN ONE YEAR 2023 2022 Trade debtor5 Other debtOT5 Prepayments 19,285 171,930 16.500 146.430 5.449 195,726 168.379 13. CREDITORS: AMouTrrfs FALLING DifE WITHIN ONE YEAR 2023 2022 Bank loans and overdrafts (See Nole 17) Trad¢ creditors Value Added Tax Social security costs and other tLxBs Orher ¢r¢ditors tkferred in¢ome Sundry crediiors and a¢¢Tued exFtL5es 146.430 28.689 2.668 37,569 7,016 3.662 23.356 43.236 3,662 73,356 114828 254.805 14. CREDITORS: AMOiTNTS FALLING DUE AFTER MORE THAN ONE 2023 2022 Bank loans Deferred capital fimding 204.168 229.690 204.168 229,690 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangbi le Fixed Assets Debtors C&sh at Crtsjitors and AccnJa]s Trdnsfttg between Funds Investments Prepairynents in Hand 2023 2022 Unrestricted Funds 373.853 10,581 519.419 {114,828) 789.025 885,163 Restricled Funds 195,726 15.461 {204.168) 7.019 5,000 Total Funds 373,853 2(k4,307 534.880 1318.9961 796,044 890,163 16. RECONCILL4TXON OF OPERATING PROFIT TO NET CASH FLOW FROM OPERATING ACTtVITJES FROM OPEIL4TtNG AcfivITIES 2023 2022 Op¢rating Surp]u(DerICit) for the ycar Depreciation Movement in StkS Movetnent in debiors Movetnent in creditors IGain)ILoss on investments IProfityLoss tsn disposa] of Fixed Asstts 194.119) 47.558 (2.347) (27.3471 {165.4991 (56.5881 45.831 {2.582) 70,800 (33,101) (171) Net tash inflowl(oufflow) from operating activities 1241.7541 24,189 Py21
EPPtNG STONES NI NOTES TO THE FINANCIAL STATENIENTS FOR THE YEAR EN"DED 31sr MARCH 2023 17. fvIOVEMENT ITr4 FUNDS Net Movement in Funds 2022 Opening Balllnce Transfer5 beh¥een Funds Prior year Adjustment Income Expenditsre 2023 2022 Unrestricted Funds 885.163 344355 (440.493) (96.138) 789,025 885,163 Restricted Funds 5,000 I J64.536 11 J62.5171 2.019 7.019 5.000 890,163 1,7118.891 11*03.0101 (94.119) 796,044 890.163 Pasr 22
STEPPING STONES NI NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31ST MARCH 2023 18. UNRESTRICTED INCOME FUNDS 2023 2022 Balance at I st April 2022 885,163 946,251 Incoming resources for the y Resources expended for the year Transfer between funds 344,355 (440,493) 577,483 (622,378) (16,193) Balance at 31 st March 2023 789,025 885,163 19. RESTRICTED INCOME FUNDS 2023 2022 Balance at 1st April 2022 5,000 500 Incoming resources for the year Resources expended for the year Transfer between funds 1,364,536 (1,362,517) 973,295 (984,988) 16,193 Balance at 31st March 2023 7,019 5,000 20. DESIGNATED FUNDS Designated funds are Lmrestricted funds set aside by the trustees out of unrestricted funds for specific ture purposes. 21. LEGAL STATUS Stepping Stones NI is a Company Limited by Guarantee. Each member has agreed to contribute £1 in the event of a compulsory winding up. Stepping Stones NI is registered with The Charity Coujmission for Northern Ireland, Charity Number 100727. Date of registration 9th December 2014. Stepping Stones NI is a recognised Charity within the defmition of Section 360(3) Income and Corporation Taxes Act 1970 by the Commissioners of the HM Revenue & Customs. Page 23