STEPPING STONES NI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 ( A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL) COMPANY REGISTRATION NUMBER N1031411 CHARITY REGISTRATION NUMBER NIC 100727 O'HARA SHEARER CHARTERED AccouiYfANTS AND STATUTORY AUDITORS 547 FALLS ROAD BELFAST BTII 9AB STEPPING STONES NI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 coNrENTS 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 Accoiinting 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 STEPPING STONES NI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 OFFICERS AND OTHER KNFORMATION Directors Michael Scott (Chair) Kenneth Alderice (Resigned 2nd February 2024) Karen Cannichael (ResI￿ned 5th March 2024) Kieran Corrigan (Resigned 28th February 2024) Michael Drayne Brenda Mcmullan (Resigned 10th August 2023) Corn]ac O'Donnell Lisa Beers (Appointed 28th February 2024) Sarah Johnston (Appointed 28th February 2024) Shirley Smylie (Appointed 28th February 2024) Secretary Paula Jennings Registered Office Stepping Stones Nl 39 Seymour Street Lisburn County Antrim BT27 4SY Auditors O'Hara Shearer Chartered Accountants & Statutory Auditors 547 Falls Road Belfast BTI19AB Solicitors Donaldson Mcconnell & Co Solicitors 8-1 O Graham Gardens Lisburn County Antrim BT28 IYS Bankers Danske Bank 62-66 Bow Street Lisburn BT28 1 YS Company Registration Number N1031411 Charity Commission for Northern Ireland Registration Number NIC 100727 Page 2 STEPPING STONES NI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 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 2024. 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 20 15). 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 company for that period. In preparing those financial 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 statetnents on the going concern b&sis 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 company 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 inforniation of which the company's auditor is unaware; and the directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. By order of the board: MICHA DIRECTOR co SHIRLEY ANN SMYLIE DIRECTOR DATE 5th December 2024 DATE 5th December 2024 Page 7 STEPPING STONES NI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS, Opinion We have audited the financTal statements of Stepping Stones Nl (the 'charity') for the year ended i l March 2024 which comprise the Statement of Financial Activities, the Balance Sh¢¢t, the Statement of Cash Flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting fraTnework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 Thefinancial Reporfing Stondard applicable in rhe UK and Republic ofIreland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the charitable company's affairs as at i l March 2024 and of its incotning resources and application of resources, including its income and expenditure for the year then ended. have been properly prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l Janauary 2015) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in 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 International 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 accordanc¢ 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 relatino to going eoncern We have nothing to report 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 preparntion 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 other information comprises the inforniation included in the annual report. other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infonnation. Our opinion on the financial statements does not cover the other infomiation and, except to the extent otherwise ¢xplicitly stated in OUT reporL we do not express any forni of assurance conclusion th¢reon. In connection with our audit of the financial statements. our restx)nsibility is to read the other infonnation and, in doing so, consider whether the other infomiation is materially inconsistent with the financial 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 det¢rniine whether there is a material misstatement in the financial statements or a material misstatement of the other inforniation. If, b&sed on the work we have perfonned we conclude that there is a material misstatement of this other information. we are required to re￿rt that fact. We have nothing to rewrt in this regard. Page 8 STEPPING STONES NI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS, Matters on which we are required to report by exception In the Ijcrht of the knowledge and under5tandino 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 followino matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: sutTi¢ient accounting records have not been kept; or the financial statements are not in aJeetnent with the accounting records- or certain disclosures of trustees, remunerdtion specified by law are not made. or we have not received all the information and explanations we require lor our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees. Responsibilitie5, the trustees, who are also the directors of the charity for the purpose of company law. are responsible for the preparation of the fmancial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors detennine is necessary to enable the preparation of financial statements that are free from material misstatemenL whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessTng the charity's ability to continue as a goino concern, dis¢losing, as applicable, matters related to going concem and usin(v the ooino ¢on¢ern basis of accounting unless the trustees either intend to liquidate the company or to cease operdtions, or have no realistic alternative but to do so. Auditor's respon5ibilitie5 for the audit of the financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditovs 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irretsularities, including fraud, are instances of non-compliance with law5 and re(vulations. We design procedures in line with our responsibilitie5, Outlined above, to detect material misstatements in respect of irregularitie5, iT]¢luding fraud. The extent to which our procedures are capable of detecting i￿egularIties, includino fraud. is detailed below. Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud The objectives of our audit in respect of fraulicics uscd and the reasonablcness of accounting estitnates and related disclosures made by the directors. Conclude on rhe appropriateness of the direclot3' use of the eoing concern basis of accountin£ and. based on the audir evidence Ob￿Ined. wheiher a material uncertainty exists related to events or conditions that may cast significant doubt on the ¢hartiv's abiljlv lo continue as a going concern. If we conclude that a material uncertainty exists, we are required to drnw attention in our audilols repx)rt to the related disclosures in the financial statement5 or, if such disclosU￿S are inadequate. to modify our opinion. Our conclusions are b&sed on the audit evidence obtained up to our audilols report. However. future events or conditions may cause the chariN to cease to continue as a going concern. Evaluate the overnll presentation. structure and content of the financial statcments, including thc disclosures, and whether the financial statements represent the underl)'ing transactions and cvcnts in a manner that achieves fair presentation. A furthcr description of our resTX)nsibililies for the audit of rhe financia] statements is located on the Financial Reporting Council's websiie al: http-l1www.f￿.or￿uk/aUditO￿r¢$￿￿)nSlblliI1¢$. This description fornis part of our auditorfs rew)rt. We communicate with those charged with governance rcgardin& among other tnattcrs. the planned scope and timing of the audit and significant findings. including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charitable company's members. &$ a EK)di. in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and regulations made under that Act. Our audit work has been undcrtakcn so that we tnight state to the charitable compan￿'S members those matters we are required to state to them in an auditors, rewrt and for no other purpose. To the fullest extent perniitted by law. we do not accept or &5sume resEK)nsibility to anyone other than the charitsble company and ils embers as a body. tor our audit worl for this reFM)rt. or for the opinions we have fornicd. LAWRENCE SHEARER F.C.A., Senior Statutory Auditor FOR AND ON BEHALF OF 0,￿￿RA SHEAREIL St2tutory Auditor O'HARA SHEARER CHARTERED ACCOUNTANTS AIYD STATUTORY AUDITORS 547 Falls Road Belfast BTI19AB Dated: 5th [kc¢m￿r 2024 Page 10 STEPPtNG STONES NI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 STATEMEiYf OF ACCOUNTING POLICIES Accounting Convention and Basis of Accounting The financial statements have been prepared under the historical cost convention. The financial 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 financial statements, the trustees, have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees, continue to adopt the going concern basis of accounting in preparing the financial statements. Income Recognition Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been me¢ 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 normally 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 expenditure incurred through operational activities. Governance costs represent the costs associated with the governance arrangements 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 cost. Page 11 STEPPING STONES NI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 STATEMENT OF ACCOUNTING POLICIES Conlinued 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 2 % 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 impairnienL Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Repairs and Renewals All repairs and renewals are written off as 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 nom]ally 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 instrutnents 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 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 STATEMENT OF ACCOUNTING POLICIES Conlinued Fund Accounting Unrestricted funds 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 funds are unrestricted funds set &%ide by the trustees out of unrestricted funds for specific future 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 purpose. Endownment funds are subject to specific conditions by donors that the capitaI must be tnaintained by the charity. The income received frorn funders depends on the charity meeting delailed 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 funder if such expenses plans and criteria are not met. Such incotne is only deferred when the donor specifies that the grant/donation must only be used in future accounting periods. or the donor has imposed conditions which must be met before the charity has unconditional entitlement. Incorne from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific perforniance conditions is recognised as earned as the related goodslservices are provided. Grant income included in this category provides funding to support perforniance activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income is deferred when: fees/perforniance related grants are received in advance of the performancelevent to which they relate. Reserves Policy Stepping Stones Nl reserves policy is to maintain a suificient level of reserves to enable operating activities to be maintained for a period of at least 3 to 6 months in the ev¢nt of major funding streams ending. The reserves policy also 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 Nl maintain unrestricted reserves if accrued should be used for the purposes which meet the aims and objectives of Stepping Stones Nl. The board should monitor and review the amount of unrestricted reserves monthly in addition to th¢ level of any restricted reserves. Page 13 STEPPING STONES IN41 ST.&TEl￿[E￿T OF FIY.INCI.4L.4CTII'ITIES tht income #nd e FOR-I'HE I'E.4R ENDED 31ST 11..IRCH 2024 incor orati tnditure Aecount L'nrestricted R¢stritt¢d Endownrnenl Funds Funds Fund5 TOTAL 2024 TOT.4L 2023 NOTES INCo￿lE AIND EINDOIVNINIEkYTS FRO￿1. Donations and legacies Income from investments lrtcome from charifablc activities Income Inim oiher tradillg activities 14.975 9.872 318.8J7 4)4.774 14,975 9,872 1,216 .256,475 19.961 474.735 392.571 TOT.4L INCO￿lE AIYD ENDOWNIIIENTS 798,458 1276,436 2,074,894 1.708,891 E.XPENDITiIRE ON: Expenditure on raising funds Exp¢nditure on charitable activities Otl)¢r ¢xpenditure Net gaiiislllosses) on investments 165,501 667.585 1261 1,188,844 166,762 118,303 1.856,429 1,684,707 TOTAL RESOIIRCES EXPENDED 8ii.086 1,190.105 2.02i,191 1,8OJ,010 NET INCOhlEI(EXPENDITIIRE) 134.628) 86J31 51.703 {94.1191 Transfers between funds 146.434) 46.434 NET ￿lOvE￿IE￿IT IN FUNDS 181.062) 132.765 51,703 194.119) RECONCILIATION OF FUNDS TOTAL FIINDS BROUGHT FORW.4RD 789.025 7,019 796.044 890.163 Prior year adjusttnent TOTAL FUNDS CARRIED FORWARD 71J7.963 139.784 847,747 796,044 The Siatement of Financial Aetivities in¢lud¢$ all gaiRs aBd 1055e5 in the ytAr therefore a Staternent of Tolal Recognised Gxins and Losse5 ha5 llo¢ been prepared All Df the above amounts relate to CDDtinuing actiyities The accompallving policies attd the motes form part of the5t fill•Nci#l $tstemetyts Page 14 STEPPING STONES NI BALANCE SHEET AS AT 31ST MARCH 2024 2024 2023 NOTES FIXED ASSETS Tangible assets Investments 342,933 373,853 10 342,933 373.853 CURRENT ASSETS Stocks Debtors and prepayments Cash at bank Cash in hand 11,424 79,028 690,882 1,074 782,408 10,581 195,726 533,059 1,821 741,187 12 Creditors= amounts falling due within one year 13 (98,948) (114,828) NET CURRENT ASSETSI(LIABILITIES) 683,460 626,359 TOTAL ASSETS LESS CURRENT ASSETSI( LIABILITIES ) 1,026,393 1,000,212 Creditors: amounts falliniF due after more than one year 14 (178,646) (204,168) NET ASSETSI(LIABILITIES) 847,747 796,044 FUNDS: ENDOWNMENT FUNDS UNRESTRICTED INCOME FUNDS 15116117118119120 707,963 789,025 RESTRICTED INCOME FUNDS 15116117118119120 139,784 7,019 847,747 796,044 APPROVED ON BEHA OF THE BOARD OF DIRECTORS . MICHAEL SCO DIRECTOR SHIRLEY AN DIRECTOR SMYLIE DATE 5th December 2024 DATE 5th December 2024 The gccompaThying accounting policie5 and notes form part ofthese financial statements Page 15 STEPPING STONES NI STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST IVIARCH 2024 2024 2023 NOTES CASHFLOWS FROM OPERATIIYG ACTIVITIES Cash generated from operations 16 168,666 (241,754) Net cash inflow/(outflow) from operating activities 168,666 (241,754) Investing activities Investment income Purchase of tangible fixed assets Acquisition of investments Amounts owed between funds Disposal of investments Disposal of tangible fixed assets (11,590) (34,423) io Net casb from investing activities (11,590) (34,423) Increase/(decrease) in cash and cash equivalents in the year 157,076 (276,177) Cash and cash equivalents at the beginnAng of the year 534,880 811,057 Cash and eash equivalents at the end of the year 11 691,956 534,880 Relating to- Cash at bank and in hand 11 691,956 534,880 The a¢companying *¢counting poli¢ies and notes form part oftbese fiDgncial statements Page 16 -%FEPPILNG STONI ES.YI (YrES TO TIIE FIN_INCIAL ¥fATEIIE. FOR THE I"E.4R ENDED 31sr II.4RCH 2024 I. DOIYATIONS AIYD LEGACIES UNre51ricted Resirltted Fullds Fund5 Llllrtstrict Funds Re5trf¢ted Funds 2024 2023 Donations Legpacies 14.975 14.975 5,073 5,673 14.975 14,975 5,073 5,673 2. INCOME FROfvI INVESTTrIEYI TS UDrestritted Fund5 Restri¢ted FuDds Uthre5¢rfcted Fwnds Re51rleied FuDds 2024 2023 Incotne ftotn UK listed inve5ttnents ITKome from 9.872 9,87? 1216 9.872 9.871 3. INCOME FROF¥l CHARITABLE AcrivrrIES Rt5trkitd Fwnd5 Ullre5trictcd Fulld5 Restricted Furtdy Funds 202 2023 Souih Easiem Hvdlih and Social CareTrust UK Sh￿ed PrnKFKrity Fund Stepping Stones to Employment- ESF. DE- DIC Busines5 Servi¢e5 OTgallis31ion- speci￿ RecoEnition Or&nl Lisbiim and Casilereabh City Council Neivry, Mourne and Doiyn Council Ards and North Down Council Artnagh. BanbridLTe and Craigavon Counco Capithl Grani Released Sundry i￿ome 302.789 302,789 i.100,￿0 291.312 291J12 i.1￿.0[￿) 866.530 35.018 23.156 10,000 40.558 15,483 25,52? 866.530 35,018 23,156 10,000 40.558 15.483 25,52? 26.920 26,920 104,033 25512 104,033 25.522 16,048 16.048 1.852 Less.. Deferml Income (SeeNoie 12J 318.837 1 ?56,475 .575 J I .852 1.307.579 1.309.431 4. INCOfvIE FROfvI OTHER TIL4DlIYG ACtivrriES Ullre5tricted Fund RtStrict FMDds UMresiri¢ied FunJ$ Rt$irlcted Fund$ 2D24 2023 TradinB ltt¢ome Fundraising Traininbl Fee5 Other ITtcome 417.985 27.375 3.458 5.956 417,985 47.316 3.458 5,956 334,556 1.058 334.556 54.443 3,572 53.385 3.572 454.774 19.901 474.735 335.614 56.957 392.571 Pige 17 STEPPIIC STO￿￿￿5 NI P¥(YfES TO THE FIN.4NCL4L ST.4TEME FOR THF. I'E..IR ENDEDJIST.11.4RCH 2024 5. EXPEiYDITURE ON 1141SING FIENDS I'nrc5trKitd Rtstrictcd Furtds UDrtstricted Restrictt¢J Funds Funds 2024 2023 Costs of trading Income Bad debts Promoiiotml artd fvndTai$irtg costs 146.656 146.656 118.?37 118,?37 18.839 20.100 165.501 166.76? 118.303 118.303 EXPENDITURE ON CHARITABLE AcfiviTIES Inreslritted Resfricted Fund5 FuDds Unrestrkied Restricted Funds Funils 2024 2023 WagEs aDd 5alari¢5 (See 8) Social security costs (See 8) Equiptnent hiring and leasing Computer and IT costs Staff training and welfare SlalYira¥el and irainee costs Client training and exp¢T R¢rruilTnent ros15 Academies ond market partneTship costs Evenis and hospithlity costs Youth service expenses (Profitv Loss on diS￿s81 of rt¥¢d as%ts Depreciation (SeeNoie 9) Sundry expenses 416.308 61.688 4,403 3.749 15.779 3.189 10.936 873.040 1.289.348 139.?81 4,403 80.776 31.807 ,732 15,796 31,718 4,(￿7 1.169.845 1?8.683 ,250,621 160.490 8.73? li.796 31.718 10,24? 10,955 8.8( 14,996 31.559 6.706 21.871 15.780 3.517 10.937 6,145 10.955 6.715 3.385 1.236 7.467 3,343 3.733 3.343 3.734 2.513 2,513 16,988 2.571 25,5?ry 47.5i8 3,081 47.5)8 3,081 542.687 1.09&697 1.64l.3 229.463 lJ2.*.565 1.55i.028 Support C05t5 and Govtrnanct costs Telephone and internet Rent payable Rent payable- arrears reduction sertlement Wuler rat¢5 Insurance LiBhi and heal Printing. posuge and stsiionery Repairs and tnainlenance Cleaning. consumables athl laundry Advert151ng and promotions ALKiil fees Accourtlancy fees Legal and other professional fees Subscriptions and licences Bank inteTtst and chaTg¢5 3.?16 50.823 5,513 .7?9 95.323 3.018 35.317 131,1001 2.037 7.67) 14.951 4,1)01 22.060 4.3?5 4,016 4.965 4.?14 14,496 2,0(h5 746 4,526 10.o(xJ 7.)44 45,317 1.978 4.12? 17.524 4.163 ?4.880 3.505 1.084 4,1?? 19,502 417 1.379 3.062 2,037 7.675 37.377 4,001 2?.060 4,325 4,016 4,965 4.214 14,496 2,006 746 37.026 4,580 22,426 3.565 ?.031 2,ILK> 7,029 3.070 397 2.031 1.5(M) 7,019 3.070 4.06? 14,058 6.140 397 124.898 ).147 215,045 92,727 36,952 129,679 T(YfAL EXPENDITURE ON CHARITABLE AcfiviTIFS 667N5 I.188￿4 IJ56.429 32L190 IJ62.517 1.684.707 7. NET GAINSIILOSSESI ON NVES[￿lE￿[S Net Igainsylosses on irtvestmertts Page 18 STEPPING STONES NI NOTES TO THE FINANCIAL STATEMEiYrs FOR THE YEAR ENDED 31ST MARCH 2024 7. NET (OUTGOING)I INCOMING RESOURCES FOR THE YEAR This is stated after chargingl(crediting) 2024 2023 Auditors remuneration Depreciation 4,062 42,510 4,965 47,558 8. SALARY COSTS AIYD EMOLUMENTS 2024 2023 Total staff costs were as follows: Wa(yes and salaries - key management personnel Wages and salaries - other staff Employer social security costs - key manaoement personnel Employer social security costs - other staff Employer social security costs - SMP & SPP Recoverable Employer social security Costs - Employment Allowance 232,934 191,178 1,056,414 1,059,443 56,500 36,049 150,470 153,110 (6,001) (23,669) {5,000) 1,490,317 1,411,111 The average monthly number of employees during the year was as follows: 2024 Number 87 2023 Number 93 Trustees, remuneration and benefits There was no trustees, remuneration or other benefits for the year ended 31 st March 2024. (2023: £Nil) Trustees, Expenses There were no trustees, expenses paid for the year ended 31 st March 2024. (2023: £Nil) Page 19 STEPPING STONES NI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EI¥DED 31ST MARCH 2024 9. TANGIBLE FIXED ASSETS Freehold Improvements Fixtures & Computer Property to Property Fittings Equipment Total COST As at I st April 2023 563,028 42,335 183,513 55,373 844,249 Additions Disposals 6.957 4,633 1,590 As at 3 1st March 2024 563,028 42,335 190,470 60,006 855,839 DEPRECIATION As at 1st April 2023 274,146 13,446 136,103 46,701 470,396 Charge for year Eliminated on disposal 11,261 4,233 21,352 5,664 42,510 As at 3 1st March 2024 285,407 17,679 157,455 52,365 512,906 Net book value 2024 277,621 24,656 33,015 7,641 342,933 Net book value 2023 288,882 28,889 47,410 8,672 373,853 11. CASH AT BANK 2024 2023 Danske Bank - Current Accounts Danske Bank - Investment Accounts 126,784 564,098 151,043 382,016 690,882 533,059 Page 20 STEPPING STONES NI OTES TO TIIE FIN.4.NCI.4L ST.ITE.NILThiTS FOR THE I'E.4R ENDED 31ST %IARCH 2024 12. DEBTORS: ANI 101Tr4TS F.4LLP4G DLTE WITHIN ONE I'EAR 2024 2023 Trade debtors Other debtors Prepayments 57.684 14.191 7,153 19.285 171,930 4,511 79.028 195.726 13. CREDITORS: Amoiwfs FALLtNG DIIE IVITHtN ONE I'EAR 2024 2023 Batlk loans and OV¢Tdraft5 (See Note 17) Trade creditors Value Added Tax Soctal security costs and other ￿XeS Other crediiors Deferred incom¢ Sundry ¢redilo¥s and a¢cwed ¢Ypenses 34,093 37,569 7.016 3,662 23,356 43.236 64.855 98.948 114,828 14. CREDITORS: A¥IOITNTS FALLPIG DIIE AFfER ￿[ORE THAlI ONE IEAR 2024 2023 Bank loans Defe￿¢d capstsl funding 178.646 204,168 178.646 204.168 15. ANALYSIS OF NET ASSETS BETWEEIN FifNDS Tangible tkbtots and Investments Ptepaym¢nts C&8h at Bank and in Hand Creditor5 and ACC￿￿15 Transfers veen FU[￿S Assets 2024 2023 Unresiri¢ted Funds 342.933 76261 434.151 (98.9481 {46,4341 707.963 789,025 Restricted Funds 14.191 257.805 1178.646) 46,434 139,784 7,019 Total Funds 342.933 90,452 691.956 1277.594} 847.747 796,044 16. RECONCILI.ITION OF OPEIUTING PROFIT TO ET CASH FLOW FRO￿1 OPEBATING ACTIVITIES FROM OPEIL4TII¥4G AcfiTr'iTJES 2024 2023 Operzting Surplu￿[DerJCjt} for th¢ year Depreciatiot) Movemeoi in siocks Movemethi in debtors Movemetti in ¢￿ditorS (Gain)￿o$S on investments IProfLtyLoss on disposal of Fixed Assets 51.703 {94.1191 42.510 47.558 18431 12.3471 116,698 {27.3471 (41.4021 (165.4991 Net e*5h inflowl{outflow) from operating activities 168,666 1241,754) 21 EPPPIG STOYES NI OTES TO THF. FIN..INCI.4L ST.4TEIIE)I TS FOR THE I'E..IR ENIDED 31ST,￿[ARCH 2024 17. fvIOVEfvIEiYf liy FUNDS Net Trlovement in FuNd5 2024 OpeNiNg Balance Transfers belween Funds Prior year Adjustment Income Expendiiurt 2024 2n23 UnTe5tticted Funds 789.025 798.4)8 (833,086) 134.6281 146,4341 707.963 789,025 Restricted Funds 7.019 1276.436 (1.190,1051 86J31 46,434 139.784 7.019 796.044 2.074,894 {2.023,191) 51.7113 847,747 796,044 Pa8e22 STEPPING STONES NI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 18. UNRESTIUCTED INCOME FUNDS 2024 2023 Balance at 1st April 202J 789,025 885,163 Incoming resources for the year Resources expended for the year Transfer between funds 798,458 (833,086) (46,434) 344,355 (440,493) Balance at 31 st March 2024 707,963 789,025 19. RESTIUCTED INCOME FUNDS 2024 2023 Balance at I st April 2023 7,019 5,000 Incoming resources for the year Resources expended for the year Transfer between funds 1,276,436 (1,190,105) 46,434 1,364,536 (1,362,517) Balance at 3 1st March 2024 139,784 7,019 20. DESIGNATED FUNDS Designated funds are unrestricted funds set aside by the trustees out of unrestricted funds for specific future purposes. 21. LEGAL STATUS Stepping Stones Nl is a Company Limited by Guarantee. Each member has agreed to contribute £ l in the event of a compulsory winding up. Stepping Stones NI is registered with The Charity Commission for Northern Ireland, Charity Number 100727. Date of registration 9th December 2014. Stepping Stones NI is a recognised Charity within the definition of Section 360(3) Income and Corporation Taxes Act 1970 by the Commissioners of the HM Revenue & Customs. Page 23