Registration number N1040838 Hillcrest Trust ITop of the Hill) Ltd (Company limited by guarantee) Directors, report and financial statsments for the year ended 31 Mareb 2024
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarants¢ Contents Page L£gal and administrative inforniation Directors, report Independent Examiners Report Statement of Financial Activities Balance sheet Notes to the financial statements 7-14
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Company information Directors Christopher Jackson Jacqueline McLaughlin Patrlck Morrison Mark O'Doherty Paula Cunningham Caroline Callan Sharon McLaughlin Sean Mooney John Lynch Philip McKtnney Caitlin Deeney Edelle O, Donnell Resigned 9 April 2024 Resigned 9 April 2024 Appointed 24 June 2024 Appointed 24 June 2024 Secretary Jacqueline McLaughlin Charity number NIC1008441 XR82711 Company number N1040838 Regislered office l O Trench Road Derry BT47 3UB Accountants McGroaty Mccaffety & Company Ltd Accountants and Tax Consultants 2 Carlisle Terrace De BT48 6JX BusAness address l O Trench Road Deny BT47 3UB Bankers Bank of Ireland 27 Culmor¢ Road Derry BT48 8JB Solicitors Hasson & Co Solicitors 39 - 41 Clarendon Street Derry BT48 9XJ Page I
Hillcrest Trust (fop of the Hill) Ltd Company limited by guarantee Dlrector8' report for the year ended 31 March 2024 The directors present their report and the fmancial statements for the yvar ended 31 March 2024. Principal activity The principal activity of the ¢haritable company is to deliver on Health & Wellbein& Education and Learnin Culthre and Arts, Physical Regeneration, Community Safety, Family Support, &s well as working with others to provide youth and preschool services to residents in the Top of the Hill are& Directors The directors who scrved during the year are as stated below: Patrick Morrison Mark O'Doherty Christopher Jackson Paula Cunningham Jacqueline McLaughlin Caroline Callan Sharon McLaughlin Sean Mooney John Lynch Philip McKinney Caitlin Deeney Edelle O'Donnell Resigned 9 April 2024 Resigned 9 April 2024 Appointed 24 June 2024 Appointed 24 June 2024 Structurei governance and management Governin Document Hillcrest Trust (Top of the Hill) Ltd is a charitsble 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. anisational StructurelRecruitment and A ointment of the Board of Dircctors Hillcrest Trust (Top of Hill) Ltd was established in 2001, the charitable company is managed by diTectOTS who meet regularly to review activities and plan for future projects. New directors are 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 ¢m¢nt 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. inancial review The charity has incurred a surplus in the year of £13,309 (2023 Surplus £61,265), the reserves at the end of the fjnancial year are £210,715. Incoine 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 guaralltse Directors, report for the year ended 31 March 2024 . continued En the past the directors have agreed that a designated fund would be set up to ensure that 6 months operational costs Ivould be covered in the event of withdrawal or gap in funding. At the beginning of the current fancial year the designated fund balance was £175,000. The directors agreed not to transfer unrestricted funds in the current year to the designated fund. Directors will review this annually. Dlrectors Responsibilities An Relation to The Financial Statements The directors are responsible for preparing the Annual Report and the fjnancial stat¢ments in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare fll)ancial 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 thc charitable company and of the incoming resources and application of resourc¢s, 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 matsrial departures disclosed and explained in the financial statements. select suitable accounting policies and apply them consistently. make judgements and estimates that are reasonable and prudent. and prepare flliancial statements on the going concern basis unless it is not appropriate to &8sume that the company will continu¢ 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 saf¢guarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 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 October 2024 and signed on its behalf by Direetor ire Éor Page 3
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Independent Examinerls Report on the unaudited financial ststements to the directors of Hillerest Trust (Top of the Hill) Ltd We port on the accounts of the charity for the year ended 31 March 2024. Respective responsibilities of charity committee members and examiner As the charity's directors you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for independent eXalUatIon. it is our responsibility to: - exarnine the accounts under Section 65 of the Charities Act" follow the procedures laid down in the general Directions given by the Commission under Section 65(9) (b) of the Charities Act" - state whether particular matters have come to our attention. BASIS of Klldependent examiner's report We have examined your charity accounts as required under Section 65 of the Charities Act and our examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under Section 65 (9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanation from you as charity directors concerning any such ntter5. Our role is to state whether any material matters have come to our attention giving us cause to believe: l.That accounting records were not kept in accoTdance with Section 386 of the Companies Act 2006. 2.That the accounts do not accord with those accounting records. 3.That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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. 4.That there is further inforniation needed for a proper understanding of the accounts to be reached. Independent Examiner's Statemenl We can confirm that we are qualified to undertake the examination as we are registered as membets of Chartered Accountants Ireland which is one of the listed bodies. We have completed our examination and have no concerns in respect of the matters 1- 4 listed above and, in connection with the following Directions of the Charity Commission Northern Ireland. wc have found no matters that require drawing to your attention. MeGroa ccaffcrty ompan Accountants & Tax Consultants 2 Carlisle Terrace Derry BT48 (ax Date: 24 October 2024 imited Page 4
Hillerest Trust (Top of the Hill) Ltd Company limited by guarantee Statement of Financial Aetiviti for the year ended 31 March 2024 Total Funds 2024 Total Funds 2023 Unrestricted Funds Restricted Designated Funds Funds Ineome and Expenditure Xneoming Resollrces Voluntary Income ncoming resources from charitable activities 61,947 61,947 90,775 438,006 562,059 438,006 Total Incoming Resources 61,947 438,006 499,953 652,834 Resources Expended Direct Charitable Expenditure Management & Administration 40,056 10,422 413,471 22,695 453,527 561,446 33,117 30,123 Total Resources Expellded 50,478 436,166 486,644 591,569 Nel Incoming l (Outgoing) Resources 11,469 1,840 13.309 61,265 Balances brought forward l April 2023 24,855 184,530 175,000 384,385 323,120 36.324 186,370 175,000 397,694 384,385 Long leasehold propety written off (186,979) (186,979) 36,324 (609) 175,000 210,715 384,385 Transfer of funds (9,515) 9,515 Balances carried fonvard 31 March 2024 11 26,809 8,906 175,000 210,715 384.385 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 separate statement of total recognised gains and losses has been presented. There is no difference between the net incoming resourccs for the year stated above and their historical cost equivalents. Page 5
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarantee Balance sheet as at 31 Mareb 2024 2024 2023 Notes Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 8,907 194,491 52,366 177,326 68,069 185,856 229,692 253,925 Creditors: amounts falling due Ivitbin one year 10 (27.884) (64,031) Net current assets 201,808 189,894 Total assets less current liabilities 210,715 384,385 Net assets 210,715 384,385 Funds Unrestrictsd Restricted Designated 11 26,809 8,906 175.000 5,354 181.035 119,000 210,715 384,385 These accounts have been preped in accordance 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 October 2024 and signed on its behalf by: Director irector The notes on pages 7 to 14 forni an integral part of these financial statements. Page 6
Hillcrest Trnst (Top of the HilD Ltd Company limited by guarantee Notes to the finaneial statements for the year ended 31 Mrdrch 2024 General inforn)ation The charity is a private limited company by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is l O Trench Road, Derry, B T47 3UB. 1.1. Accounting convention The charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing documen¢ the ChaTiti¢s 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 ststed. The financial statements are prepared on a going concern basis under the historical 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. la. 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 full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific perforniance by the charity, are recognised when the ¢haTity 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 h&% not been included. Gifts donated for resale are included as incoming resources 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 h&8 been classified under headings that aggregate all Costs related to the category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 1.4. Fund accounting Unrestricted fijnds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donoTS or which have been raised by the charity for particular purposes. The wst of raising and administering such funds are charged against the specific fund. Page 7
Hillcrest Trust (Top of the Hill) Ltd Company Ilmited by guarantee Notes to the fiJYancial statements for the year ended 31 March 2024 . continued 1.4 Tangible red assets and depreciatioll IK&shold properties are ststed at cost less depreciation. Tangible fixed assets classified under the heading equipmenl ftureS 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 usefijl life, &8 follows: Leasehold properties Fixtures, fittings and equipment Straight line over the life of the le&se 250/0 straight line 1.5. Cash at bank Cash at bank and cash equivalents are stated at cost at the flljancial 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 impairnient are recognised in expenditure. Pensions The pension costs charged in the financial ststements represent the contributions paid by the charitable company during the year. 1.8. Company status The charity is a company limited by guarantee and does not have a shar¢ capitsl. 1.9. Going concern The financial statements have been prepared on a going concern basis as the directors believe tIt no material uncertainties exist. The directors 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 a going concern. Page 8
Hillcrest Trn$t (fop of the HilD Ltd Company limited by guarantee Notes to Ihe financial statements for the year ended 31 March 2024 . continued Unrestricted Restricted Total Incon)e Income Funds 2024 2024 2024 Total Funds 2023 Incoming Resources Incomin resources frnm charitable activities Department for Communities WHSCT Education Authority - Salaries Education Authority - Local Area Education Authority - Real and Hope Intervention Education Authority - We Matter Intervention Education Authority - NWYS Education Authority - Summer boost Education Authority - Extended Schools Education Authority - Other Funds Education Authority - Sparks Project Derry City & Strabane District Council National Lottery Fund - Community Foundation BBC Children tn Need SEUPB WNP - Girls Voice Project Henry Smith Waterside Neighbourhood Partnership EA - Summer Camp Deeds - OLT Department of Foreign Affairs 144,642 144,642 15,844 15,844 21,007 21,007 102,021 102,021 162,225 14,508 40,703 118,592 11.976 6,000 6,000 3,914 793 1.000 1,000 13,535 41,645 17,803 10,000 9.439 56,069 18,504 22,613 13,299 57 6,384 7,830 7,830 12,599 12,599 9,737 9,737 86,835 86,835 8,587 8,587 9,771 9,771 1,874 1,874 4,233 4.233 6,026 6,026 438.006 438.006 562,059 Volunta In¢ome Rental and other income Bank interest received 61,640 307 61,640 307 90,578 197 Total 61,947 438,006 499953 652,834 Page 9
Hillcrest Trust (Top of the Hill) Ltd Company limited by guarnntee Notes to the financial statements for the year ended 31 March 2024 . continued Resources Expended Unrestrieted Fullds Restricted Funds Total 2024 Totsl 2023 Direct Charitable Expenditure Salaries & Wages Programmc & Youth Expenses Education Authority Expenses Girls Voice Project Expenses Community Foundation Expenses DCSDC - Good Relations DCSDC Intervention Expenses DCSDC - PCSP Expenses DEEDS OLT Expenses WNP - Active Citizenship Expenses SEUPB Expens¢s Communityl Festival Fund Expenses Henry Smith Expenses WHSCT - Programme Expenses Dept of Foreign Affairs Expenses 3,090 36.966 297,194 300,284 36.966 25,763 8,587 359,491 14.630 73,519 23,328 6.215 4.000 958 25,763 8.587 4,900 4,234 1.874 52,000 7,680 4,900 4.234 1,874 52,000 7.680 5.351 3,263 45,108 8,686 2.116 14,781 5,022 6,210 5,022 6,210 40,056 413,471 453,527 561,446 Unrestricted Funds Restricted Funds Total 2024 Total 2023 Managemellt & Administration Water Rates Insurance Light & Ht Repairs & Maintenance Printin& Postage & Stationery Profe&sional fees Telephone Accountancy Bank Fees Genernl Expenses Depreciation 582 2.167 4,823 178 1,378 582 2,167 4,823 8,028 1.652 1.189 2,507 4,513 824 285 6,547 3,458 2,849 1,312 1,432 7.850 274 1,189 2,507 4,513 2,818 1,513 170 902 15.669 824 285 6,547 10,422 22.695 33,117 30,123 Total 50,478 436,166 486,644 591 569 Page 10
Hillcrest Trust (Top of the HRll) Ltd Company liJnit¢d by guarantse Notes to the financi¥41 statements for the year ended 31 March 2024 . continued Restricted Funds Funds received which are earmarked by the Funder for specific purposes. Such purposes are within the overall aims of the OTganisation. Unrestricted Funds Funds which are expendable at the discretion of the company in rtherance of the ain)s of the charity. In addÉtion funds may b¢ held in order to flnance capital investment and working capital. Net Incoming Resources 2024 2023 Net incomingl outgoing resources is after charging. Depreciation and other amounts written off tangible assets 6,547 15,669 Employees Number of employees The average monthly numbers of employees (including the directors) during the year were: 2024 Number 2023 Number 28 21 Employment costs 2024 2023 Wages and salaries Pension costs 288,626 11,658 346,866 12,625 300.284 359,491 Taxation As a charity, Hillcrest Trt {Top of the Hill) Ltd is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Yat10n 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. Page 11
Hillcrest Trust (fop of the Hlll) Ltd Company limited by guarantce Notes to the financial statements for the year ended 31 March 2024 . continued Long Flxtures, leasehold fittings and property equipment Tangible fixed assets Total Cost At l April 2023 Additions Write off balance 555.389 112.053 7,943 667,442 7,943 (555,389) (555,389) At 31 March 2024 119,996 119,996 Depreciation At l April 2023 Write off balance Charge for the year 368,410 (368,410) 104,543 472,953 368.410 6.547 6,547 At 31 March 2024 111,090 111.090 Net book values At 31 Mar¢h 2024 8.907 8,907 At 31 March 2023 186,980 7,511 194,491 Long leasehold property The directors have confirnied that the long leasehold prop¢ty balance of £186,979 is to be written off in the year under review (see note 7). The company does not own or have any Tights over the property. Debtors 2024 2023 Grants Receivable Other debtors 50,835 1,531 68,069 52,366 68,069 Page 12
Hillcrest Trust crop of the Hill) Ltd Company limited by guarantee Notss to the fmaneial statements ror the year ended 31 March 2024 . continued 10. Creditors: amounts fallillg due within one year 2024 2023 Other creditors Other tsxes and social security Costs Deferred income Accruals 5,263 9,871 41,009 7,888 24,887 2.997 27,884 64,031 11. Movements in Funds At Incoming Outgoing Long lease At l April 2023 resources OUrCeS Transfer property 31 March 2024 Restricted funds: Restricted funds 184,530 438.006 (436.166) 9,515 (186,979) 8.906 Unrestricted funds: General Funds 24,855 61,947 (50.478) (9,515) 26,809 Total unrestricted funds 24,855 61.947 (50,478) (9,515) 26,809 Designated thnds 175,000 175,000 384,385 499,953 (486,644) (186,979) 210,715 12. Designated Funds At the beginning of the financial year the charity had £175,000 of designated fLmds. Designated funds are to ensure that there are adequate funds to cover six months, operational costs of the charitable company in thc cvent of withdrawal or gap in funding in the future. The directors belicve the £175,000 balance included in designated funds is a reasonable aTnount to cover operational costs for the agreed period. 13. Related party transactions There were no related paty transactions in the year under review. Page 13
Hillcrest Trust {Top of the Hill) Ltd Company limited by guarantee Notes to the fAnaneial statements ror the year ended 31 March 2024 . continued 14. Company limited by guarnntse The company is limited by guarantee and does not have a share capital. 15. Post balance sheet events No significant events have taken place since the year end that would result in adjustments to 2024 financial information or inclusion of a note thereto. Page 14