Charfty rnglstratlon numb•r NIC1110849 Company raglstratlon nUM￿r N1122215 (Northern Ir•land) YOUTH INITIATIVES (NORTHERN IRELAND) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 YOUTH INITIATIVES (NORTHERN IRELAND) LEGAL AND ADMINISTRATIVE INFORMATION TrnstO•S Mr F Dlck Mr K Humphrey Mr R McFadden Ms D McNally Mr S Mcvltte Ms K Willis S•cr•tary Ms K Wlllls Charlty numbor NIC100849 Company numbor N1022215 R•gl•t•r•d offlc• SO Colln Road Polegla88 Bdfast BT17 OLG Audltor GMCG BELFAST Chartared Ac¢xuntsnt8 & Statutory Audknr Alfred Hous 19 Afred Street 88lfa8t 8T2 8EQ B•nk•r• Bank of Ireland University R08d Belfast BTT 1NH SollGItorn Hewltt Gllpin Solicltors Thomas House 1416 James Street South Belfast BT2 7GA YOUTH INITIATIVES (NORTHERN IRELAND) CONTENTS Tru6téè$' report Ind8P8ndent audltorfj rnport 9-14 Statom•nt of IlnancSal actlvlll 15 Balanco 8hggt 16 statament of rA8h IIovJ8 17 Notss to the tlnarKtal ststsrnents 18-31 YOUTH INITIATIVES (NORTHERN IRELAND) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDrruREACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unrostrfctad RestrlGtgd funds fvnd• 2023 2023 Total Unrn¥trlcted Reslrlct•d funds funds 2022 2022 Total 2023 2022 Notes Incomo from: Donations and legacies Chahtable actlvltle8 107,540 42,014 741,095 848,635 42,014 72.277 21.370 967.401 1,039.678 21.370 Total Income 149,554 741,095 890.649 93,647 967,401 1,C61.048 endlture on.. Chantablg aGtivities 222,857 783.484 1.006,141 98.179 975.308 1,073.487 Not outgolng r•8ourc•• b•for• tran•fvr8 (73.103) (42,389) (115,4921 (4,5321 {7,907> (12,439) Gross transfers be￿00n fund5 19,917 (19.917) Net expenditur• for th• yearl N•t movemont In funds 153,1861 162,306) (115.492) (4,532) 17.907) 112,4391 Fund balance8 at 1 fv4Jrll 2022 219.713 718.940 938,663 224,245 728.847 951,092 Fund balanco• at 31 March 2023 166,527 656.634 823.161 219.713 718,940 938,653 Thg statement of financlal actlvltle8 Includes all galn8 and losses recognlsed In the yaar. All Income and expendlture dorfvo from corrtlnulng actlvitles. The statement of finanGial aclivltles also complies wlth th8 requlrements for an Income and expenditur8 accounl under the Companies Act 2006. 15- YOUTH INITIATIVES {NORTHERN IRELAND) BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Notss Fixed assets Tangible assets Currgnt ass•ls Debtors C88h at bank and In hand 10 857,532 688,261 11 52.668 157,844 195.843 172.918 210,312 368,761 Crodltor•: amounts lalllng du• wthln on• y••r 12 (44.683) 1118,369) Net curront 8880ts 165.629 250.392 Totsl a8Mts l••• curr•nt Ilabllltlo• 823.161 938,653 Incom• funds Re8trlcted fund8 Unrestrlcted fund8 14 656,834 166,527 718,940 219.713 823,161 938.653 These flnanclal statements have been prepared In accordance with tha provislons appllcable to compan188 subject to the Small cornpanles reglm8. The finandal statements werè approved by th8 Trustees on ....... 13 add Company R•glitrntlon No. N1622215 YOUTH INrriATIVES (NORTHERN IRELAND) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2022 Not•s Cuh Ilows from oporntlng actlvlll•s C88h absothd by operations 21 {14,6341 (10.3941 Inv•stlng acllvltl•8 Purchase of langlbla fix8d 8s80ts (640) {26,203) Not ¢•sh umd In Invojtlng actlvltl•s (640) 126203) N•t cash u••d In flnanclng actlvltl N•t d•cr•••• In cash and eash •qulvalont• (15,274) (36.597) Cash 8nd cash equfvalents 6t beglnnlng of year 172.918 209.515 Ca•h and ea•h •quivolonts at and of y•ar 157,644 172.918 17- YOUTH INITIATIVES {NORTHERN IRELAND) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 AcGountlng poli¢les Charlty Info￿allOn Youth Inltiatlves (Northem Ireland) 15 a private company limited by guarantee Incorporated in Northem Ireland. The r8918ter8d office is 50 Colin Road, Poleglass. Belfast. BT17 OLG. 1.1 Accountlng convontlon The financlal statements have been prePa￿d In 8¢cordance wllh the charitys Artlcles of As6o¢latlon, th8 Companles Act 2006 and "Accoundng and R8POrtlng by Charflles.. Stslement of Recommènded Pracuce apFdle4ble trj charities preparlng thelr acwunls in aC￿rdanCe with th8 Flnancial ReportiThJ Standard appllcable In the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).. Tho charfty 18 a Public Benpfit Entity as dèfined by FRS 102. Tho finandal statements are prepared in Sterling. which 18 tha funcUon81 currency of the charfty. Monetsry amounts In these financial statsmenls aro rounded lo the nearest £. The flnanclal gtatement8 have be8n prepared under the hlstorical cost conventlon. The prlncipal accounung pollcles adopted are set out below. 12 Golng ¢onc•rn These financlal staternen15 have been p￿pared on a golng wncem basls. The ch8rW8 unrestrlctsd fijnds at tho year end arnounted to £166,527 which equates to months, éxpendlture. The tnjslees acknovA8dge the level of reserves is sligh￿Y under the Reserye Pollcy target of 3 to 6 months of operational costs. The trustees are commltted to achieving the targeted level and conllnue lo monitor the 18vel of unresirlcted res8rve8. The trustees conslder that the charfty h83 adequat8 resources to contlnue In operatkjn for at18ast ts•Klve months followlng the slgning of Ihese financial ststements. 1.3 Charltablo lund• Unrestrictod funds are available for uso at the discrètion of the tsu$te06 In furth8r8nc? of their ¢har51able objectlve5. Restricted fund8 are subject to spedfic ¢ondltlons by donors as to h(wi they may be used. The purposes and Uses of the restrt'cted funds are set out in the noles lo the finanrial siatem8nts. IA Incofflo Income is recognl8ed vthen the ch8rity1s legally enllded lo It after any perfomiance condltlons have been rnet. Ihe amounts can b8 measured reliably, and it is probable that income will be received. Cash donations are recogni88d on r8celpt. Other donations are recognised once the chaiity has been notlfied of the donation, unless perfomiance conditions requlre deferral of the amount. Income tax recoverable in relation to donatlons ￿CeIVed under Grft Ald or deeds of cov8nant Is recognlsed at the time of the donallon. 18- YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMEwfs (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcle3 (Contlnuod 1.5 Exp•ndlluro Expenditur8 is re¢ognlsed once there Is a legal or cC￿stru￿1V8 obligation to transfer economic beneffl lo a third paty. It is probable that a transfer of economic benefits will be required in setuement, and the amount of th8 obllgallon can be measured reliably. ExpendItU￿ Is d8sslfled by activty. The costs of each a¢tlvity are made up of the total of direct costs aThJ shared costs, includlng 8UPPOrt costs involved in undertaking each activty, Direct costs attributable to 8 Single activity arè allocated direc11y tc that actmty. Shared costs vthich contribute to more than one activity arKI support Costs whlch are not attributable lo a slngle actlvlty are apportioned bots¥een those activitles on a basis ¢xJnslstent wlth the u88 of rasources. Central stsff costs are allocated on ihe bas15 of tlme Spent. and d8pr8clatlon charg88 8r8 allocatsd on th8 portion of tha 08seVs use. Expendlturo Is recogni8e¢J onGg Ih8re Is a legal or con5tru¢tlve obligation to tran8fer economlc banefrt to a third paty, it 59 probable that a transfar of 8conomi¢ beneffts will bo roquired In settlement and the amount of the obllgatlon can be measured r81iabby. Expenditure Is dassEfi8d by actlvlty. The Costs of each actlvlty are made up of Ihe total of dlrect costs and sharad costs, Including support cost8 Involv8d in undertaking each aclivlty. Direct costs attrtbulable to a slnsI8 activlty are allocated dlrectly to that 8Ctlvlty. Shared costs which contributs to more than one activlly and support cos13 whlch are not attrfbutabl8 10 8 single actlvlty are pportioned b8tween those actlvlties on a basls conslslent wlth thg us& of resource8. Central staff costs ar8 allocated on the basi8 of time spent. and depreciation charge8 ellocated on thè portion of the a$￿t'S use. Support C0518 are those costs Incurred dlre¢lly in 8UPPOrt of expenditure on the objects of the company and include project managernenl carrled out al Headquarters. Governance c08ts are those Incu￿ed In connectlon wlth adminlstration of the company and compliance wllh ConstitU￿on81 and statutory requlrements. Charitable actiwtie3 and Govem8nc8 COSts are cost8 Incurred on the companV8 operations. including support costs and costs relating to the governance of the company apportioned to charftab18 actlvllles. 1.6 Tangible flx•d assets Tanglble fixed assets are inilialty moasurod at C08t and subsequently measured at cost or valuellon, nel of depredatlon and any Impalrment losses. Depreclatlon 18 r6cognl8ed so 88 to write off the cost or valuatlon of assets lass thelr resldual values over their usefvl Ilv8s on the followlng bases.. Loasehold land and bulldlngs Flxtures and fittings Computers Motor vehlcles 2% Slraight Line 10% Slraighl Llne 33% Slraight Line 20% Straight Line The gain or loss arfsing on the disposal of an asset Is determined as the dlfference be￿een the sale proceeds and the carrwng value of the asseL arKI is recognised in the statement of flnanual actlvhtles. 1.7 Impalrm•nt of Ilxed assots At each reporting end date, the charity revlews the carrying arnounts of Its tangible assots to d8terrnln8 whether there 15 any indicatlon that those assets have suffered an Impairment loss. If any such indication exists. the roGovgrable amount of the ass8t is estimated in order to det8rmine the ext8nt of the impairment loss (rf any). 1.8 Cash and ¢agfr equlvalents Cash and cash Èquivalents include Gash in hand, deposits held et c811 with b8nks. oth8r 5hort-temi liquid investments with original maturities of thrèe months or18ss. and bank overdrafts. Bank overdrafts a￿ shown within borrowlngs In current liabilitles. 19- YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accourrtlng pollcleB (Contlnuodl 1.9 Flnanclal Instrum•nt• The charlty has elected lo apply the provisions of Sedion 11 '8asic Financial Instrument5, and Section 12 'other Flnancial Instruments Issues, of FRS 102 to all of its financial Instruments. Flnandal Snstrumenls are r8cognlsed in the charity's balance sheet when the charlty becomes paty to the contractud provislons of the Instrument. Flnandal assets and liabilitles are offset, wilh Ihe nel afflounts p￿senIed in the flnanclal statements, when ihere Is a lagally enforceable rlght to sat off th8 recognised amounts and there Is an intention lo senla on a net basis or to realise the asset and sett18 the Ilabillty simultaneou81y. 8ask flnan¢l•l assets Basic financial assets, whlch Includ8 debtors and cash and benk b8lanG85, are initially m888ured al transactlon price includlng transacuon costs and are Subsequently carded at amortlsad cost using tho effectlv8 Interest method unle8S the affangement constllut6s a financlng transaction, where the Iransactlon is m8a5ured al thg present value of the hlture recelpts dlscounted at a market rate of Inl6ra8t. Flnandal asBets clas81fied a$ rnceivable withln ong year ar8 not amortl88d. Bask Iln•ncl•l liabllltle8 Basic finanGial liabilitl8s. indudlng creditors and bank loans are initl8lly recognlsed at tr8nsaction price unl8SS the arrangement constitutes a flnancing transaction. where the debt Instrum8nl Is measured gt the piesent Value of th8 future payments discounted at a markel rate of interest. Flnanclal Ilablllues classified as payable wlthln one year are not amort18ed. 08bt Instruments ar8 subsequently carrl8d at amortbsed cogt. U81ng the effecllve Int8re8t rate method. Trade credllors a￿ obligations to pay for goods or servlces thal have been acqulred In tha ordlnary cour88 of operallons frorn supplier5. Amounts Payable are cla88ifled as oJrrent Ilabllllles If payment18 due wilhln oné year or lèss. If not. they ar8 presented as non-currenl liabilities. Trade creditors are recognised inlllally at transaclion price and subsequently measured at amortised cost uslng thg effectlve Interest mathod. Derecoqnltion offlnanclal Ilabllftles Flnanclal liablllti85 arB dpr8cognisod whèn the charltys contractual obligations explre or are discharged or Can￿lled. 1.10 Employ•• benoflts The cost of any unused hollday 8ntitlgment Is recognised In the period In whlch the employee's servic8s are received. Tennlnation beneflts are recognlsed Immediatsly as 8n expense when the charity is demonstrably commltted to lermlnate the employment of an employee or to provlde termlnatlon bonefrts. 1.11 Retlremont beneflts Payments to dofined contributlon retlrement b8n8fit sthemes are charged a5 an expanse as they fall due. YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 crftlcal •ccounilng ostlmatss and Judgemonts In the appllcation of the charity's accounting pollcigs, the trustees are r8qulr8d to make Judgements. eslimates and assumpllons about the carying amount of assets and liabilitl8s that are not readlly apparent from other sources. The estlmates and associated a8sumpOons are based on historical 9xperien￿ gnd other factoTr that are consld8r8d to be relevant. Actual results may dlffer from these estlmate& Th8 88tim8tes and underfying assumption8 ara revlewed on an ongolng b8818. Revi8lon8 to accournllng eslm8t86 are reo)gni8ed in the perlod in whlch the estimate is revi88d where th8 revlslon affects only that pe￿ad. or In the perlod of tha ravislon and future pafl¢xl$ wher8 the revt81on affacts both current and futura perl(#Js. Kay sou￿•* of osllmatlon uncfrrtalnty Flx•d A8•ot8 The annual depreciatlon charga on fixed assets depends prIMa￿lY on the èstlmated lives of each type of asset and esllmale5 of residual values. The dlrectors regulady review th8se asset Ilves and change them as necessary to raflect Cul￿nt thinkirwJ on remaining Ilves In light of prospecknve econom{¢ utlllsalion and phy$lcal ¢ondition of the assets concerned. Changes in asset lives can have a signific4nl impact on depreciatktn and amortlsatlon tharg08 for the period. Dfita￿ of useful live5 is Included in the accounung pollcies. Dobtor• Short tem debtors ar8 m8asur8d at transactlon prfce. less 8ny Impairm8nt. Impairmènt of such debtor8 Involve8 some estlmatlon unc8rtalnty- 21 rry ts) q) Invfo (ryo* I m +X> YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR TrIE YEAR ENDED 31 MARCH 2023 Charltabh actlvltle 2023 2022 Outreach and Cross Communlty Youth Work 42,014 21,370 IncLKn8 from charltabl8 activities In the current and prlor year are from unrnstrfcted funds. Charttable actlvltles 2023 2022 Stsff o)sts Programmg costs ResoU￿e8 materfal8 Equlpment and software Tran8POrtadon Accommc¥JaUon costs Tutormacllllator costs Partner agency expense Tralnlnglqualiflcatlon8 costs Reseorch and development of proAgcts 513.856 64,661 22,063 17,902 26,077 39,856 12,252 560,458 101,039 33.305 4,261 32.856 19.311 15,435 18,097 5,140 1,000 8.067 702,534 790,902 Share of Support costs (888 note 61 Share of govemanc8 couts18ee note 8) 287,092 16,515 268,898 13.687 1,006.141 1.073.487 Analy$l8 by fund UnrestriGtsd funds - general Rethctsd funds 222,657 783.484 98,179 975,308 1.008,141 1,073.487 -23- YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs 8upport Govomanc• CO8ts 2023 Support Governanc• osts 2022 Staff Lx)sts General overheads Meetlng refrèshments Fee8 and subscriptions Sundry 8xpenses Depreelatlon Fundra181ng and newsletter Other expensos 172.269 32.284 5.734 6.781 9.934 31,370 172,269 32,284 5.734 6.781 9,934 31.370 151,008 39,019 7,013 5,721 11,107 24,907 151.008 39.019 7.013 5.721 11,107 24,907 4,318 24,402 4.318 24,402 3.955 26.168 3,955 26,168 Audlt fees Insurance Extèmal evaluation Trustee's expenses Legal and professlonal lees 4.080 7.822 1,589 4,080 7,822 1,589 3.708 8.595 3,708 8,595 11 11 2,628 396 2.628 396 2.533 2,533 Accountant fees 287.092 18.515 303.607 268,898 13.687 282,585 Analysed bots￿en Charitable actlvltl88 287,092 16.515 303,607 288.898 13.687 282.585 G0￿ManCe costy includes paymonls to th? auditors of £4,080 (2022- £3,708) for audlt lees. Tru•t••8 N￿e of the tnJstee8 (or any porsons conn8Gted wlth th8m} recelved any remuneratlon or beneflts from the chadty during tho year. Durfng th8 y8ar, one trLf8t88 recelved rolmburs8ment ol travel expenses of £nll12022 - £11). Employees The average monthly number of employees durfng the year was: 2023 Number 2022 Numbor 37 -24- YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Employ•o• Icontlnuod) Employm•nt costs 2023 2022 Wag85 and s8lari8s Sodal secudty c08ts other p8n8ion costs 628,404 41,178 16,345 651,133 42,321 18.012 685,925 711.466 Rémunerallon payable to key management personnel In the year was £120.71212022 - £108.064). Durfng tha year. one employee loft under redundancy temis and receivod a ￿Mpensation payment of £1,640. Thorn wer8 no empl¢y88s whose annual remuneratlon was more than £60,000. T4xJtlon Tho Gharlty18 oxempt from tax on Income and galns lalllng wtthln sectlan 505 of the Taxes Act 1988 or $8Ctlon 252 of th8 Taxationof Chargeable Gains Act 1992 to the 8Xt8nt that these are applied to Its charltsble objects. 10 Tanglblo flx•d assets L••s•hold Flxtuf•s and C4XnPUtBrn Motor v•hlGI•• l•nd and bulldlny Totsl C08t At 1 April 2022 Addltlons T16,077 49,012 42.649 22,140 889,878 At 31 March 2023 776,077 49,652 42.649 22.140 890,518 Doweciztion and Impairmanl At 1 Aprll 2022 Dweciation Charged In thg year 124.319 15,522 40,281 4,930 14,877 10,917 22.140 201.617 31.369 At 31 March 2023 139.841 45.211 25.794 22,140 232,986 Carrylng amount At 31 March 2023 636,236 4,441 16,855 657,532 At 31 March 2022 651,758 8,731 27,772 e88,261 -25- YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 11 Dobtofs 2023 2022 Amounts tallln9 du• wlthln on• ymr: Trade debtor3 other debtors Prepayments and accrued Income 9,965 41,955 748 3,745 192,098 52.668 195,843 12 Crndltorn: amount• falllng du• wlthSn on• y•ar 2023 2022 Nots• Deferred Income other credltor8 Accrua18 and d8f8fTed Income 13 31.096 7,S27 8,080 111,088 4.031 3,250 44.e83 118,369 13 D•forred Incom• 2023 2022 other deferod Incom8 31,Q96 111,088 Deferred In¢omo18 Included in t￿ ffinanclal statsmènt8 as followB: 2023 2022 Defeffed in￿rne IB Induded wlthln,. Current liabilities 31,096 111.088 Movements in the year: Deferred income at 1 April 2022 Re18ased from previous period5 Resource8 deferred In tho year 111.088 <111,088) 31,098 25,300 (25.3iXI) 111,088 Deferred Incorne at 31 March 2023 31.096 111,088 The deferred Income arises In respect of Income balw rnceived In the year which relates to a futuro 8(xxJunting period and in respect of income rec8Ned in the y￿r where conditions for Tec(yJnition have not yet been salisfied. The In￿￿8 will be relea88d to th8 Statement of Financial Activities In Ihe period to whl¢h relate8. -26~ ooc ¢31 ay-lri Lli ln b C 04 In aa U) Qi fci O Ui 8g%g88&=gÉg JO¢DO ¢JJ ]Ii" I, -8g88"8è: Ili:] &1 J ? CLE JLL YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEAIENTS (CONTINUED) FOR THEYEAR ENDED 31 MARCH 2023 15 Anal￿15 of net ass•ts belween funds Unr￿trfGted R•8tr1cted fvnds funds 2023 2023 T