Registration number N1040838 Hillcrest Trust (Top of the Hill) Ltd (Company limited by guarantee) Directors, report and financial statements for the year ended 31 March 2023
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Contents Page Legal and administrative inforn]ation Directors, report Independent Auditors Report Statement of Financial Activities 10 Balance sheet 11 Cash flow statement 12 Notes to the financial statements 13-20
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Company information Directors Christopher Jackson Jacqueline McLaughlin Patrick Morrison Edel O'Dohety Mark O'Doherty Paula Cunningham Caroline Callan Sharon McLaughlin Sean Mooney John Lynch Philip McKinney Resigned 8th DecembeT 2022 Appointed 13th March 2023 Secretary Paula Cunningham Jacqueline McLaughlin Charity number NICI 00844 XR82711 Company number N1040838 Registered office l O Trench Road Derry BT47 3UB Auditors McGroarty Mccafferty & Company Accountants and Registered Auditors 2 Carlisle Terrace Derry BT48 6JX Business address l O Trench Road Derry BT47 3UB Bankers Bank of Ireland 27 Culmore Road Derry BT48 8JB Solicitors Hasson & Co Solicitors 39 - 41 Clarendon Street Derry BT48 9XJ Page I
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Directors, report for the year ended 31 March 2023 The direKtors present their report and the financlal statements for the year ended 31 March 2023. Prineipal activity The principal activity of the charitable company is to deliver on Health & Wellbein& Education and Learning, Cultural and Arts, Physical Regeneration, Community Safety, Family Support, as well as working with others to provide youth and preschool services to residents in the Top of the Hill areas. Directors The directors who served during the year are as stated below: Patrick Morrison Edel ODoherty Mark O'Doherty Christopher Jackson Paula Cunningham Jacqueline McLaughlin Caroline Callan Sharon McLaughlin Sean Mooney John Lynch Philip McKinney Appointed 13th March 2023 Resigned 8th December 2022 Structure? governance and management Governin Document Hillcrest Trust (Top of the Hill) Ltd is a charitable company, limited with guarantee with no share capital and its governing document is its Memorandum and Articles of Association. Its charitable status is recognised by HM Revenue & Customs and The Charities Commission of Northern Ireland. isational Structure/Recrnitment and A intment of the Board of Directors Hillcrest Trust (Top of Hill) Ltd was established in 2001, the charitable company is managed by directors who meet regularly to review activities and plan for future projects. New directors and nominated by current trustees. All of the directors due to their experience and backgrounds are already familiar with the work of the charity. Risk Mana ment The directors have a risk management strategy which consists of establishing a system of identifying risks and mitigating such risks. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Financial review The charity has incurred a surplus in the year of £61,265 (2022 - deficit £17,731), the reserves at the end of the period are £384,385 (2022 - £323,120). Income and expenditure is expected to vary from year to year depending on funding received and activities organised. Page 2
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Directors, report for the year ended 31 March 2023 continued In the past the directors have agreed that a designated fund would be set up to ensure that 3 months operational costs would be covered in the event.of withdrawal or gap in funding. At the beginning of the current fancIal year the designated ftmd balance was £119,000 The directors agreed to transfer unrestricted resevcs of £56,000 to the designated fLmds in the current year, the designated fund balance is now £175,000 at 31 March 2023. Directors will review this annually. Directors Responsibilities in Relation to The Financial Statements The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year. 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 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: - to observe methods and principles of the Charities SORP (FRSI 02)" state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. select suitable accounting policies and apply thein consistently. make judgements and estimates that are reasonable and prudent" and prepare financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis. The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence foi taking reasonable steps for the prevention and detection of fraud and other irrcgularitics. Statement of disclosure of information to auditors: We, the directors of the company who held officc at the date of approval of these Financial Statements. as set out above, each confTh so far as we are aware, that: So far as we are aware, there is no relevant audit infonnation of which the company's auditors are unaware; and as the directors of the company, we have taken all steps we ought to have taken in order to make Ourselves aware of any relevant audit inforniation and to estsblish that the charity's auditor are aware of that inforn]ation. Auditor's: McGroarty Mccaffety & Company are deemed to be reappointed in accordance with Section 487 (2) of th¢ Companies Act 2006. Page 3
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Directors, report for the year ended 31 March 2023 . continued This report is prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies. This report was approved and authorised for issue by the Board on 24 November 2023 and signed on its behalf by Director DAre¢tor Page 4
Hillcrest Trust (Top of the Hill) Ltd Compally limited by guarantee Independent auditor's report to the direclors of Hillcrest Trust (Top of the Hill) Ltd Opinion We have audited the financial statements of Hillcrest Trust (Top of the Hill) Ltd for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cashflow Statement and the relatcd notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acccptcd Accounting Practice) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" This port is made solely to the charitable company's directors, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's directors those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent pern]itted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's directors as a body, for our audit work, for this reporL or for the opinions we have forn]ed. In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2023, and of its incoming resources and expenditure of resource% including its income and expenditure, for the year then ended. - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice" and - have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Stsndards 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 financial statements section of our reporL We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements 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 obtailled is sufficient and appropriate to provide a b&8is for our opinion. Comclusions relating to going concern In auditing the financial statements, we have concluded that the directors, use of the going concern basis of accounting in the pparatIOll of the fanCIal statements is appropriate. Based on the work we have perfonned, we have not identified any material uncertainties relating to events or conditions that, Individually or Collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Page 5
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Other information The directors are responsible for the other inforniation. The other infonnation comprises the infonnation included in the directors, annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover other inforniation and, except to the extent otherwise explicitly staled in our report, we do not express any fonn of &ssurance conclusion thereon. In connection wtth our audit of the financial statements, our responsibility is to read the other inforn]ation and. in doing so, consider whether the other information 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 inconsistencics or apparent material misstatements, we are required to detennine whether there is a material misstatement in the fmancial statements or a material misstatement of the othci infonnation. If, based on the work we have perfornied, we conclude that there is a material misstatement of this other inforniation, we are required to report that fact. We have nothing to report in this regard. Opinioll on other matters prescribed by the Companies Act 2006 In our opinion based on the work undertaken in the course of the audit: the inforniation given in the Directors, Annual Report for the fmancial year for which the financial statements are prepared is consistent with the financial statements. and - the Directors Annual Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors Annual Report. We have nothing to report in respect of the following Enatters where the Companies Act 2006 requires us to report to you if, in our opinion: - adcquate accounting records have not been kept. or - the financial statements are not in agreement with the accounting records and returns. or certain disclosures of directors, remuneration specified by law are not made. or - we have not received all the inforniation and explanations we require for our audit. or the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption from th¢ requirement to prepare a strategic report. Page 6
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Responsibilities of the directors As explained more fully in the Directors, Responsibilities Ststement set out on page 3, the directors (who are also the directors of the charitable company for the pUoseS of company law) are responsible for the preparation of the financial slatements and for being satisfied that they give a true and fair view, and for such intcrnal control as the directors detern]ine is necessary to enable the preparation of financial ststements that ate ficc from material misstatemen¢ whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the charitable company's ability to continue as a going concern, disclosin& as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternalive but to do so. Auditor's responsibilities 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 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Explanation as to what extent the audit was considered capable of detecting irregularities, including Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. However, the primary responsibility for the prevention and detection of fraud lies with management and the board of directors of the charitable company. Identifying and assessing potential risks related to irregularities identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and gUlatiOns, we considered the following: - the nature of the industy, sector and the specific control environment which it operates in. - th¢ charities own asscssm¢nt of the risks that irrcgularities may occur, either as a result of fraud or error. - representations and results from our enquiries with management and the board of directors regarding their own identification and assessment of the risks of irregularities; enquiries of management relating to accounting estimates measurements, recognition criteria and justification of such amounts. any matters we have identified having obtsined and reviewed the Charities policies and procedures relating to. * identifying and assessing if laws and regulations are compliant and whether they are aware of any instances of non-compliance. * detection and response to the risk of fraud and whether they are aware of any actual, suspected or alleged fraud instances; * the internal controls designed to mitigate risks or fraud or non-compliance with laws and Tegulations, and to minimise risk of management overrides of such controls. Page 7
Hillerest Trust (Top of the Hill) Ltd Company limited by guarantee all matters discussed among the audit engagement team regarding how and where fraud could occur and the potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentÉves that may exist within the charity for fraud. The audit included assessing the procedures and evaluating the measurement of estimations. In common with all audits under ISAS (UK), we are also required to perforni specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks applicable to the charity and considered that the most significant are the UK Companies Act 2006, SORP 2019 (FRS 102) and ChaTlties Act (Northern Ireland)2008. Audit responses to risks identified Our procedures to respond to risks identified included the following: reviewing the financial stalement disclosures. testing the relevant documentation to assess compliance with the significant laws and regulations - those described as having a direct effect on the financial statements" enquiring with management and obtaining third paty confimiation from the Charities Solicitors regarding any actual or potential litigation and claims. perforniing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; reading minutes of board and management meetings, examine forecasting material in line with actual perforniance, identifying any potential fraud indicators or instances. reviewing Companies House and Charity Commission Northern Ireland correspondence, identify any late submissions or omissions of mandatory infonnation" - review correspondence with HMRC, identifying non compliance of specific infonnation to be disclosed. in addressing the risk of fraud through management override of controls. testing the appropriateness of data entries and adjustments. assessing whether the judgements made in making accounting estimates are indicative of a potential bias. and evalwdting the rationale of any significant transactions that are unusual or outside the nornial course of the Charities objectives. We also Communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintsin Professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the fmancial statements, whether due to fraud or error, design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. Thc risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effecliveness of the charitable company's internal control. Page 8
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Evaluate the appropriateness of accounting policies used and the re&sonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a mateTial uncertainty exists, we are required to draw attention in our auditorfs report 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 evidence obiained up to the date of the auditor's report. However. future events or conditions may cause the charitable company to cease to continue as a going concern. -F,valuate the overall presentation, structure and content of the financial statements, including the disclosures, and whether th¢ financial statements represent the underlying transactions and events in a mannei that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit fmdings, including any significant deficiencies in internal control that we identify during our audit. Patrick McGroarty Senior Ststutory Auditor for and on behalf of M¢Groarty M¢Cafferty & Company Statutory Allditor 2 Carlisle Terrace Derry BT48 6JX Dated: 24 November 2023 Page 9
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Statement of Financial Activities for the year ended 31 March 2023 Total Funds 2023 Total Funds 2022 Unrestricted Funds Restricted Designated Funds Funds Income and Expenditure Incoming Resources Voluntary Income Incoming resources from charitable activities 90,775 90,775 1,637 562,059 498,358 562,059 Total Incoming Resources 90,775 562,059 652,834 499,995 Resources Expended Direct Charitable Expenditure Manageinent & Administration 14,372 902 547,074 29,221 561,446 473,770 30,123 43,956 Total Resources Expended 15,274 576,295 591,569 517,726 Net Incoming l (Outgoing) Resources 10 75.501 (14,236) 61,265 (17,731) Balances brought fonvard l April 2022 5,354 198,766 119,000 323,120 340,851 80,855 184,530 119,000 384,385 323,120 Transfer of funds (56,000) 56,000 Balances carried forward 31 March 2023 24,855 184,530 175,000 384,385 323,120 The above amounts relate to continuing operations of the charity. The charity h&s no recognised gains and losses other than those included in the results above and therefore no separat¢ statement of total recognised gains and losses has been presented. There is no difference between the net incoming resources for the year stated above and their historical cost equivalents. Page 10
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Balance sheet as at 31 March 2023 2023 2022 Not¢$ Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 194,490 210,159 68,069 185,857 49,018 183,550 253,926 232,568 Creditors: amounts falling due within one year (64,031) {119,607) Lyet current assets 189,895 112,961 Total assets less current liabilities 384,385 323,120 Net assets 384,385 323,120 Funds Unrestricted Restricted Designated 10 24,855 184.530 175,000 5,354 198,766 119,000 384,385 323,120 These accounts have been prepared In accordanc¢ with the special provisions of Part 15 of the Companies Act 2006 and the Charities SORP 2019 (FRS 102). The financial statements were approved and authorised for issue by the Board on 24 November 2023 and signed on its behalf by: Director Director The notes on pages 13 to 20 form an integral part of these financial statements. Page 11
Hillcrest Trust (Top of the Hill) Ltd Company limiled by guarantee Statement of Cash flows as at 31 March 2023 Note 2023 2022 Operating Activities Net incoming / (outgoing) resources for the year (Incre&se)/ decre&se debtors (Decrease) / increase in creditors Depreciation and impainnent 61,068 (19,051) (55,576) 15,669 (17,731) (38,916) 32,693 15,669 Net cash inflow from operating activities 2,110 (8,285) Finaneing Activities Capital expenditure Interest received (11,798) 197 Increase/ (decrease) in cash in the year 2,307 (20,083) Reconciliation of net cash flow to movement ill net funds Inerease in cash in the year Net funds At l April 2022 2,307 183,550 {20,083} 203,633 Net funds at 31 March 2023 11 185,857 183.550 Page 12
Hillcrest Trust (fop of the Hill) Ltd Company limited by guarantee Notes to the finaneial statements for the year ended 31 Ivlarch 2023 General infomation The charity is a private limited company by guarantee, registered in Northern treland and a registered charity in Northern Ireland. The address of the registered office is l O Tiench Road, Deny, B T47 3UB. 1.1. Accounting convention The charily constitutes a public benefit cntity as defined by FRS102. The financial ststements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act (Northern Ireland) 2008 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019 (SORP 2019) and the Companies Act 2006. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The financial statements are prepared on a going concern basis under the historÈcal cost convention, modified to included certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity. 1.2. Incoming resources Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Voluntary income is received by way of grants, donations and gifts and is included in in the statement of fmancial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific perfonnance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Gifts donated for resale are included as incoming rcsouices within activities for generating funds when they are sold. 1.3. Resources expended All expenditure is accounted for on an accruals basis as a liability is incurred and has been cl&8sified under headings that aggregate all costs related to the category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activitics and services for its beneficiaries. It includes both costs that can b¢ allocated directly to such activities and those costs of an indirect nature necessary to support them. 1.4. Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objeKtives of the charity and which have not been designated for other purposes. Restricted funds ar¢ funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. Page 13
Hillcrest Trust {Top of the Hill) Ltd Company limited by guarantee Notes to the financial statements for the year ended 31 March 2023 continued 1.4 Tangible fixed assets and depreciation Leashold properties are stated at cost less depreciation. Tangible fixed assets classified under the heading equipmenL rtureS and fittings are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: Leasehold properties Fixtures, fittings and equipment Straight line over the life of the lease 250/0 Straight line 1.5. Cash at bank Cash at bank and cash equivalents are stated at cost at the financial year end. 1.6. Debtors & creditors Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from Émpainnent are recognised in expenditure. 1.5 Pensions The pension costs charged in the financial statements represent the contributions paid by the charitable company during the year. 1.7. Company status The charity is a company limited by guarantee and does not have a share capital. 1.8. Going coneern The financial statements have been prepared on a going concern basis as the directors believe that no material uncertainties exist. The directors have considered the level of fLmds held and the expected level of income and expenditure for 12 months from authorising these fanCIal statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. Page 14
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Notes to the financial stalements for the year ended 31 March 2023 continued Unrestricted Restricted Income Income 2023 2023 Total Funds 2023 Total Funds 2022 Incoming Resources Inconjin resources from charitable activities Department for Communities WHSCT Education Authority - Salaries Education Authority - Local Area Education Authority - Summer Camp Education Authority - Real and Hope Intervention Education Authority - Youth IT Capacity Education Authority - Small Grants EducatiorA Authority - Building Bridges Boost Education Authority - NWYS Education Authority - Summer Intervention Education Authority - Summer boost Education Authority - Health & Wellbeing Education Authority - Other Funds Education Authority - Sparks Project Education Authority - T:BUC Derry City & Strabane District Council National Lottery Fund - Community Foundation BBC Children in Need SEUPB WNP - Girls Voice Project Henry Smith Watcrsidc Neighbourhood Partnership EA - Summer Camp Deeds - OLT National Lottery Fund - Awards for All BB Health Forum 162,225 162,225 14,508 14,508 40,703 40,703 118,592 118,592 156,357 17.229 24,056 103,667 3,277 11,976 11,976 11,686 1,090 2,991 1,845 2,991 11,219 3,250 11,675 17,793 14,551 8,969 3,914 3,914 793 793 13,535 13,535 41,645 41,645 17,803 17,803 i 0,000 10,000 9,439 9,439 56,069 56,069 18,504 18,504 22.613 22,613 13,299 13,299 57 57 6.384 6,384 13,693 16,145 68,195 3,015 1,815 995 1,854 562,059 562,059 498,358 Volunta Income Rental and other income Bank interest received 90,578 197 90,578 197 1,637 Total 90,775 562,059 652,834 499,995 Page 15
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Notes to the financial statements for the year ended 31 March 2023 continued Resources Expended Unrestricted Funds Restricted Funds Total 2023 Total 2022 Direct Charitsble Expenditure Salaries & Wages Programme Costs Big Lottery - Awards for All Expenses EA Block Expenses EA Summer Intervention Expenses EA Sparks Project Expenses EAReal and Hope Expenses EA Health & Wellbeing Expenses EA NWYS Expenses EA Local Area Expenses EA Youth Account Expenses EA T:BUC Expenses EA Boost & Summer Camp Expenses Girls Voice Project Expenses Community Foundation Expenses DCSDC - Good Relations DCSDC Intervention Expenses DEEDS OLT Expenses WNP - Active Citizenship Expenses SEUPB Expenses Community/ Festival Fund Expenses Henry Smith Expenses WHSCT - Programme Expenses CCVF Covid Expenses Ulster Garden Villages Expenses BB Health Forum - Better Me Expenses 359,491 258 359,491 14,630 318,252 5,165 995 1,091 2,991 14,372 21,316 10,584 21,316 10,584 3,250 1,845 20,000 5,485 13,194 13,642 16,145 2,146 34,297 3,912 1,264 2,146 34,297 3,912 1,264 23,328 6,215 4,000 958 5,351 3,263 45,108 8,686 2,116 14,781 23,328 6,215 4,000 958 5,351 3,263 45,108 8,686 2,116 14,781 4,008 1,815 1,809 13,272 8,969 28,111 10,412 611 854 1,854 14,372 547,074 561,446 473,770 Page 16
Hillcrest Trnst crop of the Hill) Ltd Company limited by guarantee Notes to the financial statements for the year ended 31 March 2023 . continued Unrestricted Funds Restricted Funds Total 2023 Total 2022 Management & Administration Water Rates Insurance Light & Heat Cleaning Repairs & Maintenance Printing, Postage & Stationery Relocation expenses Telephone Accountancy Bank Fees General Expenses Depreciation 1,098 2,016 3,888 3,458 2,849 3,458 2,849 1,312 1,432 1,312 1,432 1,929 4,173 10,993 2,608 1,290 277 15 15,669 2,818 1,513 170 2,818 1,513 170 902 15,669 902 15,669 902 29,221 30,123 43,956 Total 15,274 576295 591,569 517,726 Restricted Funds Funds received which are earn]arked by the Funder for specific purposes. Such purposes are within the overall aims of the organisation. Unrestricted Funds Funds which are expendable at the discretion of the company in furtherance of the aims of the charity. In addition funds may be held in order to financc capital investment and working capÈtal. Net Incoming Resources 2023 2022 Net Incomin outgoing resources is after charging; Depreciation and other amounts written off tangible assets 15,669 15,669 Page 17
Hillcrest Trust (Top of the HIEI) Ltd Company limited by guarantee Notes to the financial statements for the year ended 31 Ivlarch 2023 . continued Employees Number of employees The average monthly numbers of employees (including th¢ directors) during the year were: 2023 Iyumber 2022 Number 42 34 Employment costs 2023 2022 Wages and salaries Pension costs 346,866 12,625 306,962 11,290 359,491 318.252 Taxation As a charity, HilEcrest Trust (Top of the Hill) Ltd is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or $256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its chargeable objects. Accordingly, no tax charges have arisen in the charity. Long Fixtures, leasehold fittings alld property equipment Tangible fixed assets Total Cost At l April 2022 555,389 112,053 667,442 At 31 March 2023 555,389 112,053 667,442 Depreciation At l April 2022 Charge for the year 357,302 11,108 99,981 4,561 457,283 15,669 At 31 March 2023 368,410 104,542 472,952 Net book values At 31 March 2023 186,979 7,511 194,490 At 31 March 2022 198,087 12,072 210,159 Page 18
Hillcrest Trust (Top of Ibe Hill) Ltd Company limited by guarantee Notes to the financial statements for the year ended 31 March 2023 . continued Debtors 2023 2022 Grants Rexeivable 68,069 49,018 Creditors: amounts falling due within one year 2023 2022 Other creditors Other taxes and social security costs Deferred income (Note 9.1) Accruals 5,263 9,871 41,009 7,888 5,620 99,840 14,147 64,031 119,607 9.1 Deferred income 2023 2022 Grant income Other income 41.009 67.440 32,400 41,009 99,840 10. Movements in Funds At Incoming l April 2022 resources Outgoing resources Transfer At 31 March 2023 Restricted funds: Restricted funds 198,766 562,059 (576,295) 184,530 Unrestricted fuDds: General Funds 5,354 90,775 (15.274) (56.000) 24,855 Total unrestricted funds 5,354 90,775 (15,274) (56,000) 24,855 Designated funds 119,000 56,000 175,000 323,120 652,834 (591,569) 384,385 Page 19
Hillcrest Trust (fop of the Hill) Ltd Company limited by guarantee Notes to the financial statements for the year ended 31 March 2023 . continued 11. Cash and Cash Equivalents 2023 2022 Cash at bank and in hand 185,857 183,550 12. Designated Funds At the beginning of the financial year the charity had £119,000 of designated funds. Designated funds ar¢ to ¢nsur¢ that there are adequate funds to cover three months, operational costs of the charitable company in the event of withdrawal or gap in funding in the future. The directors agreed an additional amount of £56,000 would be transferred from unrestricted funds to designated funds to cover additional operating costs. The designated nd balance at 31 March 2023 is £175,000, the directors believe this balance is a reasonable amount to cover operational costs for a period up to three months. 13. Related party transactions There were no related paty transactions in the year under review. 14. Company limited by guarantee The company is limited by guarantee and does not have a share capitsl. 15. Post balance sheet events No signiflcant events have taken place since the year end that would result in adjustments to 2023 financial infonnation or inclusion of a note thereto. Page 20