Charity registration number NIC100849 Company rogistration number N1622215 (Northern Ireland) YOUTH INITIATIVES (NORTHERN IRELAND) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
YOUTH INITIATIVES (NORTHERN IRELAND) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr K Humphrey Mr R McFadden Ms D McNally Mr S Mcvltte Secretary Ms K Wlllis Charlty number NIC100849 Company number N1622215 Regl$ter•d office 50 Colln Road Poleglass Belfast 8T17 OLG Audltor GMCG BELFAST Chartered Accountants & Statutory Auditor Alfred House 19 Alfred Street Belfast BT2 8EQ Bankers Bank of Ireland University Road Belfast BT7 1NH Sollcltors Hewitt Gilpin Solicitors Thomas House 14-16 James Street South Belfast BT2 7GA
YOUTH INITIATIVES (NORTHERN IRELAND) CONTENTS Pago Trustees, report Independent audltorfs report Statement of finandal activltles 17 Balance sheet 18 Statement of cash flows 19 Notes to the financSal statements 20-32
YOUTH INITIATIVES (NORTHERN IRELAND) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities 110,427 23,182 957,608 1,068,035 23.182 107,540 42,014 741,095 848.635 42.014 Total income 133,609 957,608 1,091.217 149,554 741,095 890.649 endlture on: Charitable activities 166,130 942,497 1.108,627 222.657 783,484 1,006,141 Net (outgolng)Ilncomlng resourc•s before transfers (32,521) 15,111 (17,410) (73,103) (42,389) (115,492) Gr05S transfers beeen funds 470 (470) 19,917 (19,917) Net (expendlture)lincome for the yearl Net movement in funds (32,0511 14,841 (17,410) (53.186) (62,306) (115,492) Fund balances at 1 April 2023 166,527 656.634 823,161 219,713 718.940 938,653 Fund balances at 31 March 2024 134.476 671,275 805,751 166,527 656,634 823,161 The ststement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies wilh the requirements for an income and expenditure account under the Companies Act 2006. 17-
YOUTH INITIATIVES (NORTHERN IRELAND) BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed a55ets Tangible assets Current assets Debtors Cash at bank and in hand 10 631,904 657.532 11 112,905 128,025 52,668 157.644 240,930 210,312 Credltors: amounts falling due withln ono year 12 (67,083) (44,683) N8t current assets 173,847 165,629 Total assets l•s$ current Ilabllltlel 805,751 823,161 Income funds Restrlcted funds Unrestricted funds 14 671,275 134,476 656,634 166,527 805,751 823.161 These finanaal statements have been prepared in accordance with the provisions applicable to companies subject to the small companles regim8. The financial statements were approved by the Trustees on . McFa stee en Company Reglstratlon No. N1622215 18-
YOUTH INITIATIVES (NORTHERN IRELAND) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activitles Cash absorbed by operations 21 {29,619) (14,634) Investlng adlvltles Purchase of tangible fixed assets (640) N•t cash used In Inv•stlng actlvltles (640) Not cash us•d In flnanclng actlvltles Net decrease In cash and cash equlvalents (29.619) (15,274) Cash and cash equivalents at beginning of year 157.644 172,918 Cash and cash oqulvalants at ond of year 128.025 157,644 19-
YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollci&s Charity Informatlon Youth Initiatives (Northem Ireland) is a private company limited by guarantee incorporated in Northern Ireland. The registered office Is 50 Colin Road. Poleglass, Belfast. BT17 OLG. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the charitvs Articles of Association, the Companies Ad 2006 and °Accounting and Reporting by Charities: Statem8nl of Recommended Practice applicable to charities preparlng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The Gharity is a Public Beneflt Enkn'ty as deflned by FRS 102. The financial ststements are prepared in sterling. whlch Is the fijnctional currency of the charfty. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The prlncipal accountlng policles adopted are set out below. 1.2 Golng concern These financial statements have been prepared on a going concern basis. The charty's unrestricted funds at the year end amounted to £134,476 whith equates to one and a half months. expenditure. The trustees acknowledge the18v81 of reserves is under the ReseNe Policy target of 3 to 6 months of operational costs. The tTUStees are committed to achieving the targeted level and continue to monitor the level of unrestricted reserves. Having considered the current level of funds and confimied future funding. the trustees consider that the charity has adequate resources to continue in op8ration for at least iwelve months following the signing of these financial statements. 1.3 Charitable funds Unrestrided funds are available for use at the dlscr8tlon of the trust88s in furtherance of their charitsble objectives. Restricted funds are subject to speclflc conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial ststements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance wnditions have been met, the amounts can be measured reliably. and it is probable thal income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notffied of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recogni5ed at the time of the donation. -20-
YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.5 Exp8nditure Expenditure Is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement. and the amount of the obligation can be measured rellably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs Involved in undertaking each activity- Direct costs attribulable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs whlch are not attributable to a single activity are apportioned between those activities on a basis consistent wlth the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation tharges are allocated on the portion of the asset's use. Expenditure is recognised On there is a legal or constructlve obligation to transfer economlc benefit to a third party, it is probable that a transfer of economic benefsts will be required in settlement and the amount of the obligatlon can be measured rellably. Expendilure is classified by actlvity. The cost5 of each activity ar8 made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity- Direct cost5 attributable to a single activity are allocat8d directly lo that activity. Shared costs which Gontribute to more than one activity and 5UPPOrt costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's US8. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at H8adquarters. Govemance costs are those incurred in conn8Ction with administration of the company and compliance with constitutional and statutory requirements. Charltable actlvities and Governance costs are costs incurred on the companvs operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. 1.6 Tanglble fixed ass8ts Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impairment losses. Depreciation Is recognlsed so as to write off the cost or valuatlon of assets less thelr residual values over thelr useful lives on the following bases.. Leasehold land and bulldlngs Flxtures and fittings Computers Motor vehicles 2% Stralght Line 10% Straight Line 33Y. Straight Line 20 % Straight Line The gain or loss arising on the disposal of an asset is det8miined a5 the difference betW8en the sale proceeds and the carrying value of the asset, and is recognised in the ststement of financial activities. 1.7 Impalrment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to detemiine whelher there is any indication that those assets have suffered an impainnent 1055. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient loss (rf any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, d8POSits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 21
YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcies (Continued) 1.9 Flnancial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Flnancial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceablé rlght to set off thè r8cognised amounts and there Is an intention to S8tt1e on a net basis or to realise the asset and settle the liability simultaneously. 88slc financlal Jssets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transactlon price includlng transaction costs and are sub58quently carried at amortised cost using the effective interest method unless the arrangemenl constitutes a financing transaction, where the transaction is m&asured at the present value of the future r8C81Pts discounted at a market rate of inl8r8St. Financial assets classified as receivable within one year are not amortised. Baslc flnanclal118bllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments dlscounted at a market rate of interest. Financial liablllties classlfied as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired In the ordinary course of operations from suppliers. Amounts payable are classrfied as current liabilities if payment is due within one year or less. If not. they are presented as non-current liabllities. Trade creditors are r8cognised initially at transaction price and subsequently measured at amortised cost using the effective interesl method. Derecognltlon of flnanclal118bllltles Financial liabilities are derecognised when the charfty's contractual obligations expire or are discharged or cancelled. 1.10 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are receiv8d. Termination benefits are recognised immediately as an expense when the tharity is demonstrably committed to terminate the employment of an employee or to provide terminatlon benefits. 1.11 Retlrement beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. -22-
YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Crltical accountlng estlmates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptlons are based on hlstorical experience and other factors that are considered to be relevant. Actual results may differ from these estirnates. The estimates and underlying assumptions are reviewed on an ongolng basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision aff8cts only that period. or in the period of the revision and future periods where the revision affects both current and future periods. Key sources of estlmatlon uncertainty Flxed Assets The annual depreclation charge on fixed assets depends primarily on the estimated lives of each type of asset and estlmates of residual values. The directors regularfy revlew these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospedive economic utilisation and physical condition of the assets concern8d. Changes In ass8t1Sves can have a signlficant impact on depr8clation and amortisation charges for the period. Detail of useful lives is included in the accounting policies. Debtors Short terrn debtors are measured at transaction price. less any impairment. Impairment of such debtors involves some estimation uncertainty. -23-
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YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable actlvltles 2024 2023 Sales within charitable activities Outreach and Cross Community Youth Work 5,000 18,182 42,014 23.182 42,014 Income from charitable activStles In the current and prfor year are from unrestrScted funds. Charltable actlvltlo8 2024 2023 Staff costs Programme costs Resources materlals Equipment and softwar8 Transportation Accommodation costs Tutorlfacilitator costs Partner ag8ncy 8xpense First aid suppli8S Tralnlnglqualifications costs 559,922 71,601 21,507 3,915 31.796 46,207 15.594 19 13,000 513,656 64,661 22,063 17,902 26,077 39,856 12,252 6,067 763,561 702,534 Share of support costs (see note 6) Share of governance costs (see note 6) 307,785 37,281 287,092 16,515 1,108,627 1,006,141 Analysls by fund Unrestricted funds- general Restrirted funds 166,130 942,497 222,657 783,484 1,108,627 1,006,141 -25-
YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Govarnance costs costs 2024 Support Governance costs costs 2023 Staff costs General ovethead5 Meeting refreshments Fees and subscriptlons Sundry expenses Depreciatlon Fundraising and newsletter Other expanses 184,047 39,942 5,117 6,319 12,303 25,628 184,047 39.942 5,117 6,319 12,303 25,628 172,26g 32,284 5,734 6,781 9,934 31,370 172,269 32.284 5,734 6,781 9,934 31,370 1,752 32,677 1,752 32,677 4,318 24,402 4,318 24,402 Audlt f8es Insurance Extemal evaluation Legal and professional fees Accountant fees 4,680 6,128 9,349 4,680 6,128 9,349 4,080 7,822 1,589 4,080 7,822 1,589 17,124 17,124 2,628 396 2,628 396 307,785 37,281 345.066 287,092 16.515 303,607 Analysed be88n Charitable activitles 307,785 37,281 345.066 287,092 16.515 303,607 Governance costs includes payments to the auditors of £4,680 (2023 - £4,080) for audit fees. Trustees Non8 of the trustees lor any persons connected with them) received any remuneration or benefits from Ihe charity durlng the year. Employees The average monthly number of employees durfng the year was: 2024 Number 2023 Number 34 35 Employment costs 2024 2023 Wages and salarie5 Social security costs other pension costs 680,249 46,391 17,329 628,404 41,176 16,345 743,969 685,925 -26-
YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees (Continued) There werè no 8mployees whose annual remuneration was more than £60,000, Taxatlon The charity Is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 10 Tangible flxed assets Leosehold Flxture$ and land and Ilttlng• bulldlngs Comput•r• Motor v•hl¢hs Totsl Cost At 1 Aprll 2023 776,077 49,651 42,650 22,140 890,518 At 31 March 2024 776,077 49,651 42.650 22,140 890,518 Depreclatlon and Impalrment At 1 April 2023 Depreciation charged In the year 139,841 15,522 45,211 539 25,794 9,567 22.140 232,986 25,628 At 31 March 2024 155,363 45,750 35,361 22.140 258,614 Carrylng amount At 31 March 2024 620,714 3,901 7.289 631,904 At 31 March 2023 636,236 4,441 16,855 657,532 11 Debtor8 2024 2023 Amounts falllng duo wlthln one year: Trade debtors Other debtors Prepayments and accrued income 5,366 106,755 9,965 41,955 748 112,905 52,668 12 Credltors: amounts falling dua within one year 2024 2023 Notes Defeed in¢om8 Other creditors Accruals and deferred inGome 56,434 7,399 3,250 31,096 7,527 6,060 67,083 44,683 -27-
YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Deferred Income 2024 2023 Oth8r deferred incom8 56,434 31,096 Defèrred income Is Included in the flnancial statem8nts as follows: 2024 2023 Deferred income is Sncluded within: CUrnt liabilltles 56,434 31,096 Movements in the year: Deferred income at 1 April 2023 Released from previous periods Resources deferred in the year 31,096 (31,096) 56,434 111,088 (111,088) 31.096 Deferred income at 31 March 2024 56,434 31,096 The deferred income arises in respect of income being received in the year which relates to a future accounting period and in respect of income received in the year where conditions for recognition have not yet been satisfied. The income will be released to the Statement of Financial Activlties in the period to which it relates. -28-
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YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Explanatory notes to the funds Unrestricted Funds General Funds Thls fund includes all core funding that the charity receives and is èxpendable at th8 discretion of the directors for the general purposes of the charity. Restricted Funds Restricted funds comprise of the Building Fund of £820.714 (2023 £634,576) and rernaining restricted fund balance5 held for a specific purpose of £50,561 (2023 - £22,058). Detai15 of the restrlcted funds are as noted below. Buildlng Fund The buildSng fund was accumulated to finance the construction of the charity's youth faclllty. The b31anc8 on the fund repr8sents the net book value of the building and fixtures 8nd fittings held as fix8d assets on the balance sheet. Ardbarron Trust - To fund Youth Ministry workers, general management and core costs. Armagh, Banbridge. Craigavon Clty Council- To support Banbridge Good Relatlons BBC Children in Need NUTS Project- To fund the salary and programrne costs of NUTS West Belfast. Belfast City Councll - To fund communSty support in the Colin. West Belfast Area. Ben8fact Trust - To fund the Missing Youth project costs. Charis Community - To fund faith development project costs. Community Relations Council (CRC) Core- To fund the salary of the Good Relations Development Officer. Communlty Relations Council (CRC) Step Up, Step Out- To part-fund volunteer costs. Community Relatlons Council (CRC) Show grant - To part-fund Crosslinks show. Department of Foreign Affalrs & Trade - Reconciliation Fund {ROII To fvnd Cross Communlty Programme costs. Department for Communlties- CED- To part-fund Prolect Support Worker salary and overheads. Department for Communitl8s - Job Start- To fund salari8s for Jobstart employees. Duke of EdinburghlJoint Initiative Award- To fund Duke of Edinburgh centre set-up. Education Authority Regional Strategic Grant - To part fund the salaries, core costs for supporting member organisations. Education Authority local support grants- To fund local Branch Programme costs. Education Authority Planned Intervention West- To fund summer intervention in West Area. Education Authority Strand Road & Ballymacarrett- To fund Strand Road (East Area) activities and salaries. Education Authority TBUC 11-14s- To fund Summer programm8 costs. Education Authority TBUC 15-18s- To fund Summer programm8 Costs. -30-
YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Explanatory notes to the fund (continued) Education Authority - Small Grants - To fund small projects in 2 of Youth Inits'atives areas. Garfield Weston Foundation - To fund core youth work costs. House of Vic-Ryn- To fund youth mlnistry salaries. Koch Foundation - To fund falth development project costs. Liberty IT- To support the youth volunteer leadership programme. Newry Moume & Dovm - To provlde early interventlon and diversionary activities In Downpatrick. Natlonal Lottery - To fund 13-18s youthwork In YI East and West Areas. To fund an Antl-Ra¢ism programme of research and campaign work, and Paul Hamlyn Foundation Infrastructure development. Paul Hamlyn Foundation Bytes research grant - To fund promotion of the Positlve Spark5 webslte. PCSP - To fund diversionary activities in Lisbum. Rank Foundation - Start Here - To fund the salary for media internship. Rank Foundation - Aspire Programme - To fund the salary for youth work internship. To fund salary, programme and SEUPB Peace Plus 3.2, YMCA Empower to Transform programme overheads to deliver E2T programme. SEUPB Peace Plus 3.2, Include Youth Strive programme To fund salary. programme and overheads to deliver Strive programme. Soutter Charitable Trust- To fund Youth Initiatives faith development project costs. The Executive Office Central Good Relatlons Fund Crossllnks To fvnd East and West Belfast Crossllnks programme and salary costs. The ExecutNe Office Central Good Relations Fund Artbridge - To fund Foyle Artbridge programme and Salary costs. TBF Thompson Trust- To fund Banbridge Staff salaries. Urban Villages - To fund the OutreachlDetached work in West Belfast. Youth Actlon - To fund Social Action Projects in East Belfast. Transfers During the year, there were transfers of £470 from restricted fvnds to unrestricted funds. This relates to expenses that were misallocated to unrestricted funds in a previous year. -31
YOUTH INITIATIVES (NORTHERN IRELAND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Analysls of net assets between funds Unrostricted Restricted funds funds 2024 2024 Total Unrestricted Restrlcted funds funds 2023 2023 Total 2024 2023 Fund balances at 31 March 2024 are represent8d by: Tangible assets Cuent assetsl(liabilities) 11,190 123,286 620,714 50,561 631,904 173.847 22,956 143.571 634,576 22,058 657,532 165.629 134,476 671,275 805.751 166,527 656.634 823,161 The unrestricted net current assets of the charity at 31 March 2024 total £123,286 (2023 £143,571). This flgure represents the charity's free reserves. 18 Pension commitments The charity operate5 a defin8d contribution pension scheme. The assets of the scheme are h8ld separately from those of the charity in an independently admlnistared fund. The penslon cost charge represents the contributions payable by the charity to the fund and amounted to £17,329 (2023 - £16,345). 19 Financial commitments• guarantees and contlngent Ilabilities A portion of grants received may becom8 repayable if the company fails to comply with the tenns of letter of offer. 20 Relatad party transactlons There were no disclosable related party transactions during the year (2023 - none). Remuneration payable to key management personnel in the year was £148.354 (2023 - £132,956). 21 Cash gen•rated from operatlons 2024 2023 Deficit for the year (17,410) (115,492) Adjustment5 for. Depreclation and Impairment of tangible fixed assets 25.628 31,369 Movements in working capltal: (Increa5e)Idecrease debtors (Decrease)lincrease in creditors Increas81{decrease) In deferred income (60,237) (2.938) 25,338 143,175 6.306 {79,992) Cash absorbed by operations (29,619) (14,634) 22 Analysis of Changes in net funds The charity had no debt during the year. -32-