HOMEPLUS NI LTD (A COMPANY LIMITED BY GURANTEE) Trustees Annual Report and Unaudited Flnancial Statements for the year ended 31 March 2025 AEHYW7T 2211212025 COMPANIES HOUSE A23
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Registered Charity in Northern Ireland (NIC100730) Company Reglstration Number N1058306 Pa8ell
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) Financlal Statements Year ended 31 March 2025 Contents CHARITY REFERENCE AND ADMINISTRATIVE DETAILS.............................................................. TRUSTEES, ANNUAL REPORT (INCLUDING DIREcfoRS' REPORT AND STRATEGIC REPORT) .. TRUSTEES OF THE CHARITY..... REFERENCE AND ADMINISTRATIVE DETAILS... STRUCTURE AND MANAGEMENT..................................... DESCRIPTION AND PURPOSE................................ . AcfiviTIES AND OBJECTIVES......................... .... ACHIEVEMENTS AND PERFORMANCE.. PUBLIC BENEFIT STATEMENT.......... . FINANCIAL REVIEW.... GOING CONCERN. RESERVES POLICY................................... RESPONSIBILITIES IN RESPEcf OFTHE FINANCIAL STATEMENTS........................................................... RISK REVIEW........................................ . .10 FURTURE PLANS..................................... .10 INDEPENDENT EXAMINERS REPORT...................................... .12 STATEMENT OF FINANCIAL AcfiviTY IINCLUDING INCOME AND EXPENDITURE ACCOUNT) ................. 14 BALANCE SHEEr................... .15 BALANCE SHEEr...................... . .16 NOTES TO THE ACCOUNTS...... .17 2jPage
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) Year ended 31 March 2025 CHARITY REFERENCE AND ADMINISTRATIVE DETAILS Charlty Registration Number NIC 100730 Company Re8iStration Number NI 058306 Trustees Mr Philip Boomer Mr Sean P Conlon Mr Kyle Heffernan Company Secretary Ms Margaret Henry Manager Mr S Smith Re8iStered Office 113 Unlversity Street Belfast BT7 IHP Independent Examiner Hopper & Co Chartered Accountants and Registered Auditors 6 Doagh Road Ballyclare Co Antrim 8T39 9BG Bankers Danske Bank Donegall Square West Belfast BTI 6JS 31Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT Year ended 31 March 2025 TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) The Trustees who are also directois for the purpose5 of company law present their report and the unaudited financial statements of the charity for the year ended 31st March 2025. The directors have adopted the provisions of the Statement of Recommended Practice {SORP) "Accountin8 and Reporting by Charities ' (FRS 102 Section IA} in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements and applicable accounting standards, Accounting and Reporting by Charities . Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102 Section IA), the charity's governing document, the Charities Act (Northern Ireland) 2008, Charities Act (Northern Irelandl 2013, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, Companies Act 2006 and UK Generally Accepted Practice. TRUSTEES OF THE CHARITY The directors of the charitable company are its trustees for the purposes of charity law. The terms ' director" and "trustee" are used interchangeably throughout the financial statements. The trustees who have served during the year were as follows: Mr Philip Boomer Mr Sean P Conlon Mr Kyle Heffernan REFERENCE AND ADMINISTRATIVE DETAILS The registered name of the charity is Homeplus Nl Ltd, charity registration nurnber: NIC 100730 and company number: Nl 058306 Trustees Mr Philip Boomer Mr Sean P Conlon Mr Kyle Heffernan Company Secretary Ms Margaret Henrv Manager Mr S Smith 41 Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (cont'd) Year ended 31 March 2025 Registered Office 113 University Street Belfast BT7 IHP Independent Examiner Hopper & Co Chartered Accountants and Re8iStered Auditors 6 Doagh Road Ballyclare Co Antrim BT39 98G Bankers. Danske Bank Done8all Square West Belfast BTI 6JS STRUCTURE AND MANAGEMENT The company was established under a Memorandum of Association whlch established the objects and powers of the charitable company and is governed under its Article5 of Associatlon. The Board Is responsible for the governance of the charity. The trustees delegate the running of the organisation to the manger, within a framework of delegated authority. The Board meets approximately every two months. DESCRIPTION AND PURPOSE Homeplus Nl is a charity working with people who sleep rough in Belfast, and people who are homeless or in danger of becoming homeless. We provide an Outreach service for all Rough Sleepers. a daily Drop-In/Advice Centre specifically for homeless and destitute foreign nationals, asylum seekers, refugees and those who have been excluded from other services. We also have a women's centre for mothers and their children from an Asylum seeker background. AcfiviTIES AND OBJECTIVES Homeplus Nl was established as a Charity in September 2000, by a group of concerned individuals who had extenslve experience and a practical working knowledge of the problems associated with hornelessness, to meet the immediate accommodation and support needs of vulnerable homeless people who are sleeping rough. The Charity was registered with the Charity Commission for Northern Ireland on 3rd November 2014. 5 IPage
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (convd) Year ended 31 March 2025 Homeplus Nl is a charity working with people who sleep rough in Belfast, and people who are homeless or in danger of becoming homeless. We provide an Outreach service and a daily Drop-ln Centre specifically for homeless and destitute foreign nationals and those who have been excluded from other services. The charity's objectives are the relief of poverty, the relief of sickness and advancement of education and training of persons who are homeless, by the provision of servlces for those suffering from alcoholism or addiction to drugs or other substances, or who are in need of such assistance due to their young age, poor health or financial need on terms appropriate to their means; and the provision of street outreach services to rough sleepers and day centre services. Mission Statement Homeplus Nl is a voluntary organlsation established to meet immediate accommodation, prartical help and support needs of vulnerable homeless people, particularly those with complex needs. We seek to identify new or changing outreach/accommodation/support needs of disadvantaged groups or individuals and work to develop projects to meet those needs V15ion Statement That no one should have to sleep rough because of lack of appropriate accommodation and/or support. Values We believe that everyone should have the right of immediate access to appropriate and 8ood quality accommodation when required; We believe that everyone should have the right to relevant servlces and appropriate levels of support to enable them to maintain accommodation; We believe that everyone has the right to be treated with dignity and respect at all times; We believe in treating all homeless persons equally; We believe in promoting neutral, non-sectarian, non-political services to all areas of Belfast, regardless of political divide. and We believe that individuals who are 'roofless' should have 24-hour 5UPPOrt and practical help. Aims To identify gaps in service provision for rough sleepers and develop services to meet those needs; To increase awareness among statutory agencies, the general public, and politicians, about the reality of hornelessness, particularly rough sleeping and associated problems; 61Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEEI TRUSTEES REPORT (convd) Year ended 31 March 2025 To work in partnership with other agencies to influence those in authority to develop strategies and adapt effective policies to alleviate hornelessness, particularly rough sleeping; and To assist Rough Sleepers to move off the streets with the support of specialist teams of street workers, to improve access to hostels for those with addiction / mental health problems and ensure ready access to day centres and mainstream servlces. ACHIEVEMENTS AND PERFORMANCE Homeplus recent achievements for 23124 have included: Securin8 funding to purchase new all electric vehicle for Outreach. Providing Street Outreach service to over 2900 contacts last year. In our Drop-in Centre/Advice Centre, over the past year we assisted over 6851 individuals. We have delivered our Women's Centre for mothers and their children in the buildin8, providin8 health and wellbeing classes, English classes, sewing classes, arts and crafts and a quiet places for children to do their homework. Over the past year we have recruited 7 new volunteer service users for our Advice Centre, and over 30 new women volunteers for our Women's Centre, from over 20 different countries and over 6 religious backgrounds across 6 continents. We held a cultural celebration day in Girdwood Community Centre in September 2024, with over 500 people attending, with food, music, fashion, and storytelling from over 8 countries. Another key achievement is that several of the asylum seeker children were trained last year to be GAA coaches by East Belfast GAA . We held different cultural celebrations as requested by clients for Christmas, Ramadan, Easter, and St Patrick's day. We secured funding from LFT for a salary for a cook We have developed our weekly social supermarket from a pilot project to a longer term one, funded by Belfast City Council, and in the past year we have been helpin8 UP to 15 local families per week, which enabled them to get food essentials (bread, milk, soup, meat, vegetables, etc.) so that they could provide healthy rneals for themselves and their families, as well as lunches for their children going to school. We have also delivered food parcels for those who are elderly or incapacitated. and can't leave their homes. We provided trips for mothers and chlldren to our large allotment. Women from the centre really appreciated this as it allowed them to plant and harvest fruit and vegetables they like from their own country. The East Belfast cycling trainers taught our women how to cycle every Wednesday. We had Ih another residential trip to Corrymeela for three days with 60 people attending on the 14 17 of July 2024. We continued to participate in interagency forums, committees and steering groups to influence those in authority to improve acce55 to healthcare, welfare and accommodation for our client groups th 71 Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (convd) Year ended 31 March 2025 We have developed new working relationships with Greggs, Fareshare, Makro and other groups such as Beyond Skin, Whiterock children centre and St Vincent De Paul. We have continued hot Halal meals and vegan options in our Drop-ln Centre 3 days per week and food parcels Tuesdays and Thursdays for our BME service users We facilitated the Muslim communlty to use our Drop-ln Centre for Ramadan where they cooked for breaking the fast in the evening and for service users during the day. We facilitated wakes in our building for families and friends of people who died in Africa and countrles In Asla, mostly people from the Muslim community. We increased our supply of food donations through partnerships with organisations such as ASDA, Gre88s, Foodcloud and Fareshare. PUBLIC BENEFIT STATEMENT The Board of Homeplus Nl Ltd confirm that they have had due regard for the guidance produced on public benefit by the Charity Commission for Northern Ireland, and are pleased to report that durlng the year the charitable company has continued to provide public benefits through the pro8rammes and services we offer. In particular, the directors consider how planned activities will contribute to the aims and objectives they have set out. Public Benefits: The relief of poverty by providing Street Outreach, Drop-ln Centre, on-call service and ernergency accommodation services for those who are homeless. The relief of sickness through the provision of first aid, Naloxone, and other Outreach serv ices. The advancement of education and trainin8. FINANCIAL REVIEW The charity, s incoming recourse for the year amounted to £215,225 (2024: £211,745). Principal sources of funding are from grants and donations. The outgoing expenditure for the year amounted to £233,148 (2024 £234,116) The net outgoings for the year amounted to £17,923 (2024: outgoing £22,371). The Charity is extremely grateful to all its grant funders, Without whose support Homeplus would not be able to run a number of its activities. GOING CONCERN The activities of the trustees are dependent on ongoing contributions from its members. The Trustees are of the opinion that the trustees has sufficient resources at the date of approval of these financial statements to meet commitments which will arise in the year from the date of signing this report and 81 Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT {conVd) Year ended 31 March 2025 subject to the continuing support from members to fund on an ongoing basis the trustee's current activities and other financial commitments. RESERVES POLICY The Trustees have considered the level of unrestricted reser4es that it is appropriate to hold taking account of current and ongoing commltments. It is the policy of the Trustees to hold between two and six month's normal expenditure, this equate to between £2,943 and £8,830. At the year-end unrestricted free reserves were £80,939 which represents a higher level of reserves. The Trustees, however, consider it prudent to hold reserves at this level as the funding of its present activities is dependent of the ongoin8 financial support of its funders. RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS The trustees (who are also the directors of Homeplus Nl Ltd for the purposes of company law) are responsible for preparin8 the Directors ' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requlres the dlrectors to prepare financial statements for each financial year which give true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP 2019 (FRS102); make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed , subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate. The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, Charities Act (Northern Ireland) 2008 and Charities Act (Northern Ireland) 2013 and Charities (Accounts and Reports) Regulation5 (Northern Ireland) 2015. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. 91Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (convd) Year ended 31 March 2025 The directors are responsible for the maintenance and integrity of the charitable company and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparatlon and dissemination of financial statements may differ from le8islation in other jurisdictions. RISK REVIEW A review of major risks has been undertaken by the Trustees and systems and procedures implemented to manage identified risks. The principal risks are in relation to the likelihood of reputational damage and financial risks associated with the expectation of ongoing financial sUPPOrt from funders. These risks are mitigated by the Trustees regularly monitoring the variou5 activities of the charity at stated meetin85 and by reviewin8 available fundlng streams. FURTURE PLANS Objectives for 2024/2025 To secure funding for staff to run our Social Supermarket, and for ongoing revenue costs To further develop our Drop-in centre to provide more support to local rough sleepers and those at risk of becomin8 homeless. To continue to develop and improve links wlth other agencies such as Food Banks.. To develop our volunteer resources to include collecting and distributing food donations. To be represented on steering groups dealing wlth racial harassment amon8 migrant communities. To identify and provlde relevant trainin8 for our staff and volunteers, particularly in the area of drug overdosing To develop our Social Supermarket to asslst over 20 households with food and depending on donations provide other household essentials such as cleaning detergents. To further integrate asylum seekers, refugees and migrant workers into the community by our allotment and volunteer opportunities. Explore alternative means of funding and keep up-to-date with new programmes and funding opportunities. To increase support for single male asylum Seekers through the use of WhatsApp eg. offering them advice on sexual health and accessing them appropriate services. To explore and act on opportunities to secure extra funding through Gift Aid. Develop better administration for obtaining and dealing with Gift Aid donations. IOIPage
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT Iconvd) Year ended 31 March 2025 Disclosure of Information to Independent Examiner So far as each of the directors in office at the date of approval of these financial statements is aware: there is no relevant audit information of which the charltable company's independent examiner is unaware; and they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant information for the independent examination and to establish that the charitable company's independent examiner is aware of that information. Small Companies, Exemption This report has been prepared in accordance with the special provisions relatin8 to small companies within Part 15 of the Companies Act 2006 . Independent Examiner Hopper & Co., have indicated their willingness to remain in office and a resolution for their re-electlon will be proposed at the folthcomin8 Annual General Meeting. Approved by the trustees at a meeting on and signed on its behalf bv: Mr Sean P Conlon Director & Trustee
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINERS REPORT Year ended 31 March 2025 INDEPENDENT EXAMINERS REPORTTO THETRUSTEES OF HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) I report on the financial statements of Homeplus Nl Ltd for the year ended 31st March 2025 which are contained within the 2025 Annual Report. Re5pertive responsibilities of trustees and Independent examlner Homeplus Nl Ltd 's trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities Act (Northern Ireland) 2008. Homeplus Nl Ltd's trustees consider that an audit is not required under section 65(2) laudit) of the Charities Act (Northern Ireland) 2008 for the year and that an independent examination under section 64(11 of the Charities Act (Northern Irelandl 2008 is required. It is my responsibility to: examine the accounts to state whether particular matters have come to my attention. Basls of Independent exarniner's report My examination was carried out under Section 65 of the Charities Act (Northern Ireland) 2008. An examination includes a review of the accounting records kept by the Church and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concernin8 any such matters. The procedures do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements. Independent examiner'5 Statement In the course of my examination, no matter has come to my attention: {1) which gives me reasonable cause to believe that in any material respect the requirements: to keep proper accounting records in accordance wlth Section 63 of the charities Act (Northern Ireland) 2008, and to prepare financial statements which accord with the accounting records in accordance with Section 64 of the Charities Act {Northern Ireland) 2008 have not been met. or 121Page
{2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. S Hopper FCA Partner Hopper & Co 131Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL AcfiviTY (INCLUDING INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 March 2025 Note Unrestrirted Funds Restricted Funds Total 2025 Total 2024 {Restated) Income from: Donations and legacies Investment Income Other 21,756 193,469 215.225 211,745 Total Income 21,756 193,469 215,225 211,745 Expendlture on: Charitable activities 17,696 215,452 233,148 234,116 Total Expendlture 17,696 215,452 233,148 234,116 Net Income Transfers between funds 4,060 (6,848) (21,983) 117,9231 {22,371) 6,848 Net movement in funds Funds brought fon4vard (2,788) 90,399 (15,1351 (17,923> {22,371} 40,488 130,887 153,258 Funds carried forward 16 87,611 25,353 112,964 130,887 Ali income and expenditure derive frorn continuing activities. The staternent of financial activities includes all gains and losses recognised during the year. 141Pa8e
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET As at 31 March 2025 Note 2025 2024 Fixed Assets Tangible Fixed Assets Total fixed assets 10 26,824 26,824 35,691 35,691 Current Assets Debtors Cash and cash equivalents Total current assets 11 30,150 64,081 94,231 15,374 89,418 104,792 Credltors- amounts falllng due wlthln one year Total credltors 12 8,091 8,091 9,596 9,596 Net Current Assets 86,140 95,196 Total net Assets 112,964 130,887 Funds of the charlty Unrestrlcted funds General funds Total unrestricted funds Restrirted Fund5 14 87,611 87,611 25,353 90,399 90.399 40,488 15 Total charity funds 112,964 130,887 For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors responsibilities: The members have not required the company to obtain an audit of its flnancial statements for the year in question in accordance with Section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. 15 | Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET As at 31 March 2025 These financial statements were approved by the board of directors and authorised for issue on and are signed on behalf of the board by: Mr Sean P Conlon Director & Trustee The notes on pages 17 to 28 form part of these financial statements. Company Registration Number: Nl 058306 161Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS for the year ended 31 March 2025 I. ACCOUNTING POLICIES General information and basis of preparation Homeplus Nl Ltd is a charitable company limited by guarantee and not having a share capital and is registered in Northern Ireland. The address of the registered office is given in the charity information on page l of these financial statements. The company was established under a Mernorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The charitable company constitutes a public benefit entity as defined by FRS 102. Statement of compliance The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements and appllcable accounting standards, Accounting and Reportin8 by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Repolting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102 Section IA), the charity's governing document, the Charities Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013 , The Charities {Accounts and Reports) Regulations (Northern Ireland) 2015, Companies Act 2006 and UK Generally Accepted Practice. The flnancial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in 5terlin8 which is the functional currency of the charity rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. The directors consider that these policies are suitable, have been con5iStently applied and are supported by reasonable and prudent judgements and estimates. FUND ACCOUNTING The charity has various types of funds for which it is responsible, and which require separate disclosure. A definition of the various types of funds is as follows: Restricted funds comprise la) incorne from endowments which is to be expended only on the restricted purposes intended by the donor and {b) revenue donations or grants for a specific charitable activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis. 171Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE} NOTES TO THE ACCOUNTS (cont'd) 31 March 2025 Unrestrlcted funds are funds which are expendable at the discretion of the Charity in furtherance of its objectives. In addition to expenditure on activities such funds may be held in order to finance capital investment and working capital. Designated funds are general funds set aside by the trustees for use in the future. INCOMING RESOURCES All incomin8 resources are included in the Statement of Financial Activities {SoFA) when the charity is legally entitled to the incorne after any performance conditions have been met, the amount can be measured reliably, and It is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writin8. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity, and it is probable that they will be fulfilled. Voluntary income received by way of donations and gift is credited to revenue on a receivable ba51S. The charity receives grants in respect of support services. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. Revenue grants are credited to incoming resources on the earlier date of when they are received or when they are receivable unless they relate to a specified future period. Other income represents income that cannot be reported under the other analysis headings provided within the SOFA. Incornlng resources with related expenditure Where Incoming resources have related expenditure (as with insurance proceeds) the incoming resources and related expenditure are reported gross in the SOFA. 181 Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (cont'd) 31 March 2025 Grants and donations Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. Tax reclalrns on donatlons and 85ft5 Incoming resources from tax reclaims are included in the SOFA at the same tirne as the gift to which they relate. Contractual Income and performance related grants This is only included in the SOFA once the related goods or services have been delivered. Glfts In klnd Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incomlng resources when receivable. (vi) Donated services and facilities These are only included In incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value place on these resources is the estimated value to the charity of the service or facility received. Ivii) Investment Income This is included in the accounts in the perlod to which it relates. (viii) Investment gains and1055es This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluin8 investments to market value at the end of the year. EXPENDITURE AND LIABILITIES All expenditure is accounted for on an accruals basis and has been classified under headings that a88regate all costs related to the category. It is categorised under the following headings: Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and seniices for its beneficiaries and includes salary costs, support service expenses, and an apportionment of support costs; Other expenditure represents those items not falling into the categories above. 191Page
HOMEPLUS NI LTD IA COMPANY LIMITED BY GUARANTEÉ) NOTES TO THE ACCOUNTS (cont'd) 31 March 2025 Liability recognition Liabilities are recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. Governance costs These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Grants wlth performance condltlon5 Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only reco8nised in the SOFA once the recipient of the grant has provided the specified service or output. Grants payable wlthout performance condltlons These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relatlng to the 8rant which remain in the control of the charity. Support Costs Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, 8overnance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to partlcular headings, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on a basis consistent with the use of the resources. Staff costs and other overheads have been allocated based on time spent, per caplta and activity. Employee benefits When employees have rendered service to the charity, sholt-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. Value Added Tax The charity is not re8lStered for VAT purposes, therefore expenditure is shown gross of VAT. 20IPa8e
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (cont'd) 31 March 2025 ASSETS Tangible Fixed Assets The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition. Depreciation is calculated so as to write off the cost of tangible fixed assets, less their estimated residual values, on a straight-line basis over the expected useful economic lives of the assets concerned. The principal annual rates used are as follows: Fixtures and fittings Motor vehicles 25% Stralght line 25% Reducing balance In accordance with FRS102, assets under construction are not depreciated until stsch times as they are available for use. Where the recoverable amount of a fixed asset is found to be below its net book value, the asset Is written down to the recoverable fi8ure and the loss on impairment is reco8nised in the SOFA. Investments Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees, best estimate of market value. Leases Rentals payable under operating leases are charged to the SOFA on a straight-line basis over the period of the lease. Tax As a charity, the company benefits from various exemptions afforded by tax legislation. It is therefore not liable to corporation tax on income or gains falling due within those exemptions. Recovery is made of tax deducted from receipts under gift aid. Golng concern The financial statements have been prepared on a going concern basis a5 the trustees believe that no material unceltainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure Is sufficient with the level of reserves for the charity to be able to continue as going concern. Judgements and key sources of estimatlon uncertainty The following judgements including those involving estimates have been made in the process of applying the above accounting policies that have had the most significant effect on the amounts recognised in the financial statements and that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year: 211Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (cont'd) 31 March 2025 depreciation method and asset Useful lives The estimates and assumptions are reviewed on an ongoing basis considering the current and future market conditions. 2. DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds Total 2025 Donations and gifts Grants 21,756 3,000 190,469 24,756 190,469 21,756 193,469 215,225 Unrestricted RestrScted Funds Funds Total 2024 Donations and gifts Grants 19,088 10,958 181,699 30,046 192,189 20,563 192,657 211,745 22 | Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) NOTESTO THE ACCOUNTS (cont'd) 31 March 2025 Grants Recelvable Restricted Funds: 2025 2024 Cash Kids TEO John Moore Homeless Connect LFT 45,000 4,500 45,000 3,469 5,000 5.000 500 CFC Socialsm The National Lottery Halifax Garfield Weston Ulster Garden Villages Limited 9,820 118,410 99,969 8,500 30,000 193,469 181,699 3. INVESTMENT INCOME Unrestrlcted Funds Restrlcted Funds Total 2025 Total 2024 Deposit interest 4. OTHER INCOME Unrestricted Funds Restrlcted Funds Total 2025 Total 2024 Other Income 231Page
HOMEPLUS NI LTD {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (cont'd) 31 March 2025 5. CHARITABLE AcfiviTIES Unrestricted Fund5 Restrlcted Funds Total 2025 Total 2024 Employment Costs Direct Costs Establishment Costs Repairs and Maintenance Loss on Disposal of Fixed Assets Depreciation Sundry Expenses Grants Repayable Governance costs {note 6) 2.581 3,962 6,163 155,462 15,217 17,910 1,842 158,Q43 19,179 24,073 1,842 146.676 ._. 46,236 21,865 5,571 {3,441) 3,112 11,697 2,142 2,848 7,425 8,728 6,468 2,400 9,567 11,S76 6,468 2,400 2,400 17,696 215,452 233,148 234,116 6. GOVERNANCE COSTS Unrestrlcted Funds Restricted Fund5 Total 2025 Total 2024 Independent Examination fees 2,400 2,400 2,400 2,400 2,400 2,400 241Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (cont'd) 31 March 2025 7. EMPLOYEES Employment Costs Total Funds 2025 Total Funds 2024 Wages and Salaries {includin8 social security) 158,043 138,913 158,043 138,913 Number of Employees The average number of employees expressed as full-time equivalents, during the year was; Total 2025 Total 2024 Average number of employees No Employees received total employee benefits (excluding pension costs) of more than £60,000 8. PENSION COSTS The contributlons made by the trustees to staff pension schemes durin8 the year were; Total Funds 2025 Total Funds 2024 Contributions 6,067 5.260 9. TAXATION The charity Is a registered charity, and as such is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading activities carried out in the furtherance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes. The charity is not registered for VAT and, accordingly, all their expenditure is inclusive of any VAT incurred. 251Page
HOMEPLUS NI LTD IA COMPANY LIMrrED BY GUARANTEE) NOTE5 TO THE ACCOUNT5 (cont'd) 31 March 2025 10. TANGIBLE FIXED ASSETS Fixtures Motor Vehicles Fittings Total C05t At beginning of the year Additions Disposals At end of the year 27,295 14,660 699 41,955 699 27,295 15,359 42,653 Depreclation At beginning of the year Depreciation Disposals At end of the year 642 6.663 5,622 2,903 8,393 8,378 7,305 8,525 16,771 Net book value at beglnning of the year Net book value at end of the year 26,653 19,990 9,038 6.834 35,691 26,824 11. DEBTORS 2025 2024 Prepayments and accrued income 30,150 IS,374 30,150 15,374 12. CREDITORS 2025 2024 Taxation and social security Accruals Creditors Bank Overdraft 4,694 2,400 987 10 8,091 3,294 3,319 2,973 10 9,596 261Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (cont'd) 31 March 2025 13. CONTINGENT LIABILITIES The charitable company has a contingent liability to repay grants received if the company fails to comply with certain conditions stipulated in the letter of offer and terms and conditions of contract under which the grants were paid. The directors do not expect any claims to be made in this respect. 14. FUND BALANCES Fund Balance at start Income Expendltur Surplus / (Deficit) Transfer Balance at end Unrestrlcted Funds General fund 90,399 21,756 117,6961 4,060 16.848) 87,611 90,399 21,756 117,6961 4,060 16,848) 87,611 Restricted Funds Cash Kids CFC Donations Asda Garfield Weston Foundation Halifax Homeless Connect John Moore LFT OFM DFM SA WA Funders Shorts Bombardier Social Supermarket Tudor Trust The National Lottery The National Lottery Capital VSB Ulster Garden Villages 8,490 {4,4651 15001 14,465) 14,025) 500 3,528 250 (1,792) 1,736 35S 2,510 142 30,000 8,500 {29,895) (5,990) 105 2,510 142 4,500 5,000 45,000 (4,500) 19,538) {44,IS7) 4,221 14.8371 843 317 843 6,861 (8,3361 18,336) 1,475 12.587) 19,583 99,969 {103,1751 (4,896) 13,206) 14,8961 10,873 5,080 14,687 40,488 193,469 {215,4521 (21,983) 6,848 25,353 Total 130,887 215,225 {233,1481 {17,923) 112,964 271Page
HOMEPLUS NI LTD (A COMPANY LIMITED BY GUARANTEE) NOTESTO THE ACCOUNTS Iconyd) 31 March 2025 15. ANALYSIS OF NET ASSEfs BETWEEN FUNDS Unrestrlcted Restrlcted Funds Funds Total 2025 Fixed Assets Net Current Assets 6.709 80,902 20,115 5,238 26,824 86,140 87,611 25,353 112,964 Unrestricted Restrirted Funds Funds Total 2024 Fixed Assets Net Current Assets 8,151 82,248 27,540 12,948 35,691 95,196 90.399 40,488 130,887 16. FINANCIAL COMMITMENT No contratts had been placed for future capital expenditure at the balance sheet date 17. LIABILITY OF MEMBERS Homeplus Nl Ltd is a company Ilmited by guarantee and does not have a share capital. It is governed by a Memorandum and Articles of Association and the liability of member s is limited to an amount not exceeding £1. 18. ULTIMATE CONTROLLING PARTY There is no ultimate controlling party. 19. ETHICALSTANDARDS In common with many other organisations of our size and nature, we use our independent examiner to prepare and assist in the preparation of the financial statements. 20. RELATED PARTIES There were no related party transactions during the year12025: £Nil}. 281Page