The Cedar Foundation Annual report for the year ended 31 March 2023 Consolidated Statement of financial activities (incorporating the Consolldated Income and Expenditure Account) Notes Restrlcted Unrestrlcted 2023 2022 Income and endowmonts from: Donations & Legacies Charitable activities Invesiments 33,584 1 5.775.482 112,541 33,564 18,256,817 112,541 22,356 17,771,962 78,613 2,458,519 Total Income 2,458,519 15,921,587 18,380,106 17,872,931 Expendllure on: Charitable activities 3.127.777 15.484.179 18,611,956 17,433.403 Total expendlture 3,127,777 15,484,179 18,611,956 17,433,403 Net movement in funds before other recognis galnsl(1098es) Oth•r galnsl(losses): (Losses)Igains on revaluation of investments Other Galnsl(losses) Revaluation of Assets held for sale Transfers behveen funds (669.258) 437.407 1231.851) 439.528 rncognis•d (225,062) 219 (225.062) 219 164,217 423,594 423,594 669.258 {669.258) Net movoment In funds 133,100> (33,100) 603.745 Reconclllation of funds: Total funds brought forward Net movement in Funds 12,307,127 (33.100) 12.307,127 (33,1001 11,703,381 603,745 Total funds carrled forward 12,274,027 12.274,027 12,307,126 All amounts above relate to continuing operats'ons of the group, The noles on pages 28 to 40 form part of these accounts. Page 23
The Cedar Foundatlon Annual rèport for the éar ended 31 March 2023 Company Statement of financial activities (Incorporating the Income and Expendlture Account) Notes Restrlcted Unrestrictod 2023 Incorne and endowments from: Donations and legacies Charitable activities Investments 32,181 13,523,950 112,541 32,181 15,522,302 112.541 15,72C 15,501,93C 78,61:. 1,998,352 Total Income 1,998,352 13,668,672 15.667,024 15,596,27:. Expendlture on: Charitable activities 2,512,628 13,591,837 16,104,465 15,251,69t Total •xpenditur8 2,512,628 13,591.837 16,104,465 15,251,69t Net movement In funds b8for• other recognlsed gainsl(losses) (514,276) 76,835 (437,441) 344,574 Oth•r recognlsed galnsl(losses): (Losses)Igains on revaluation of 16 investments Revaluation of Assets held for sale Extraordinary item - donation Transfers between funds (225,062) 423,594 2,994,280 (514,276 (225,062) 423,594 2,994,280 164,43e 514,276 Net movement In funds 2,755,371 2,755,371 509,01C Roconclllation of funds: Total funds brought forward Net movement in funds 9,518,655 2,755,371 9,518,655 2,755,371 9,009,64S 509,01C Total funds carried forward 12,274,027 12,274,027 9.518,65% All amounts above relate to continuing operalions of Ihe company. The notes on pages 28 to 40 form part of these accounts. Poge 24
The Cedar Foundation Annual report for the year ended 31 March 2023 Consolidated Balance Sheet Notes 2023 2022 Fixed assèts Tangible fixed assets Investments 11 12 2.033,466 2.924,647 4.958,113 2,281.549 3.149.709 5,431.258 Current assets Debtors Assets held for sale Investments - short term deposits Cash at bank and in hand 13 2,700,444 484,911 1,227,885 4.191.157 8,604,397 2,323.714 322.743 1,215.631 4.676,314 8.538,402 Llabllltlos Creditors.. amounts falling due within one year 14 11,288,483) {1,662.532) N•t curr•nt assats 7,315,914 8,875,870 Total Net a8¥et8 12,274,027 12,307,126 The funds of th• group Unrestricted funds Restricted funds 16 16 12,274,027 12,307,126 Total funds 12,274,027 12,307,126 The Balance Sheet for Croft Communities at the year end was £nil following the transfer of all assats and liabilitles to The Cedar Foundalion at the 31 March 2023. The accounts on pages 23 to 40 were approved by the Board of Trustees and authorised for issue on 26 September 2023. Mrs Myrna Evans (Chairperson) Mrs Elalne Armstrong (CEO) Co. Registratlon No. Nl 002132 The notes on pages 28 to 40 form part of these accounts. Pqge 25
The Cedar Foundation Annual report for the year ended 31 March 2023 Company Balance Sheet Notes 2023 2022 Flxed assets Tangible fixed assets Investments 11 12 2,033,466 2,924,647 4,958,113 1,440,274 3,149,709 4,589,983 Current ass•ts Debtors Assets held for sale Investments - short term deposits Cash at bank and In hand 13 2,700,444 484,911 1,227,885 4,191,157 8,604,397 2.133,781 1.215,631 3.075,056 6.424,468 Liabllit1•8 Creditors.. amounts falling due within one year 14 {1,288,4831 (1,495.7951 Net current assets 7,315,914 4.928,673 Total n•t a$s•ts 12,274,027 9,518,655 The fund8 of th• charlty Unrestricted funds Restricted funds 16 16 12.274.027 9,518,655 Total lund8 12,274,027 9,518,655 The accounts on pages 23 to 40 We approved by the Board of Trustees and aulhorised for issue on 26 Seplember 2023. Mrs Myma Evans Ichalrperson) Mrs Elalna Annstrong (CEO) Co. Roglstration No. Nl 002132 The notes on pages 28 to 40 form part of these accounts. Page 26
The Cedar Foundation Annual report for the year ended 31 March 2023 Consolldated Statement of Cash Flows 2023 2022 Cash flows from operatlng acllvltl•s: Net cash provided by operating activities (see below) (833,861) 5,865 Cash flows from Investlng actlvltles Dividends, interest and rents from investments Proceeds from the sale of property, plant and equipment Purchase of propety, plant and equipment Salel(purchase) of investments Net cash (used In) Snvestm•nt a¢tlvltlo8 112.541 349,082 1100,665) 78,613 (198.858) {500.000) (620,245) 360,958 Cash and short term deposits gifted to subsidiary Change In cash in the roportlng perlod 1472.903) (614.380) Cash at th• b•glnnlng of the roportlng perlod Cash at th• •nd of th• reportlng porlod 5,891.945 5,419,042 6,506,325 5.891,945 Reconclllation of net Income to net cash Inflow from operating actlvltles 2023 2022 Net income for the reporting period (as per the Consolidated Statement of financial activities) Adjusted for.. Depreciation charges Interest and dividends received (Profit) l Loss on sale of fixed assets Incr•asel(decrease) In creditors Decreasel(increase) in debtors Net cash provld•d by operatlng acllvltl•s (231,851) 439,528 271,751 287,110 (112,541) (78,613) (10,441) 11,738 (374,049) {102,096) {376,7301 {551,802) 833,861 5,865 Analysis of cash and cash equlvalents 31 March 2022 Cash Flow 31 March 2023 Cash at bank and in hand Investments- short term deposits Total cash and cash oqulvalents 4,676,314 1,215,631 5.891,945 (485,157) 12,254 (472,903) 4,191,157 1,227,885 5,419,042 The notes on pages 28 to 40 form part of these accounts. Page27
The Cedar Foundation Annual report for the year ended 31 March 2023 Notes to the accounts Accounting policies Basls of accountlng The accounts have been prepared under the historical cost convention and modified to include the revaluation of investments and in accordance with applicable accounting standards, the Companies Act 2006 and the Statement of Recommended Practice ("SORP") 'Accounting and Reporting by Charities, (FRS 102) and in accordance with Financial Reporting Standard 102. A summary of the more important accounting policies, which have been applied consistently, is set out below. Company status The Foundation is a company limited by guarantee. The members of the company are the Trustees named on page 2. In the event of the Foundation being wound up, the liability in respect of the guarantee is £1 per member of the Foundation. Consolldatlon The consolidated financial statements incorporate the financial statements of the company and its subsidiary undertakings as listed in Notè 12. Income All income is recognised once the company has entitlement io the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. Expendlture 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 reliably. Expenditure is classified by activity. The costs of each activity are made up of the total ofdirect costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to single activity are allocated directly to that activity. Shared costs which ¢ontribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen 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 use. Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. All expenditure is inclusive of irrecoverable VAT. Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each StrICted fund is set out in the notes to the financial statements. Pqze 28
The Cedar Foundatlon Annual report for the yoar ended 31 March 2023 Notes to the accounts (continued) Going Concern No material uncertainlies related to events or conditions that may cast significant doubt about the ability of the Company or Group to continue as a going concern have been Identified by the Trusteas. Pension scheme The company operates a defined contribution pension scheme. Employer's contributions vary as a percentsge of pensionable earnings depending on the staff member's agreed terms and conditions. The assets of the scheme are held separately from ihose of the company in independently administered funds, and contributions are charged to the Statement of Financial Activities in the period to which they relate. Operatlng leases Costs in respect of operating leases are charged on a straight-line basis over the lease term. Tangibl• flxed assets Fixed assets are stated at thelr purchase cost, net of depreciation and any provision for impairment. Depreciation is calculated so as to write off the cost of tangible fixed assets (excluding land), less their estimated residual values, on a straight-line basis over the expected useful lives of the assets concerned. The principal annual rates used for this purpose are as follows: Buildings Motor vehicles Fixtures and fittings Computer equipment 20 20 33.33 Debtors Debtors are measured at their recoverable amounts. Credltors and pmvlslons for Ilablll¢les and charges Creditors and provisions for liabilities and charges are measured at their settlement amount. Judgements and estlmates In th8 process of applying the Company and Group's accounting policies, management has not made any significant judgements. There are no key assumptions conceming the future or other key sources of ests'mation, that have significant risk of raising a material adjustment lo the carrying amounts of assets and liabilities within the next financial year. Investments In accordance wilh the Statement of Recommended Practice, investments, other than those in subsidiary companies, are shown in the balance sheet at market value. Investments in subsidiary companies are stated al cost, where relevant. Interest recelvable Intest on funds held on deposit is included when receNable and the amount can be measured reliably by the company,. this is normally on notifi'calion of the interest paid or payable by the Bank. Page 29
The Cedar Foundation Annual report for the year ended 31 March 2023 Notes to the accounts (continued) Cash at bank and In hand Cash at bank and hand includes cash and short term highly liquid investments with a short maturlty of thiee months or less from the date of acquisition or opening of the deposit or similar account. Termlnatlon Beneflts Termination benefits are recognised immediately as an expense when the company is demonstrably committed to either terminate the employment of an employee or to provide terminatK)n benefits. Flnanclal Instruments The Group only has financial assets and liabilities of a kind that qualify as basic finanGial instruments_ Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value. Volunteers The contribution made by our volunteers is critical to the successful delivery of servlces. Donatlons and legacles Group Restricted Unrestricted 2023 2022 Fundraising and donations Legacies Grants 20,564 13,000 20,564 13,000 22.356 33 564 33,564 22.358 Company Restrlcted Unrestrlcted 2023 2022 Fundraising and donatlons Legacies Grants 19,181 13,000 19,181 13,000 15,729 32,181, 32.181 15,729 Incoming resources from charltable actlvltles Group Restricted Unrestricted 2023 2022 Living Options Living options - Supporting People Employability & Community Inclusion 11,359,947 11,359,947 2.458,519 4.415.535 18,234,001 10,444,796 2,245,051 5,082 115 17,771,962 2.458,519 4,415 535 15,775,482 2,458.519 Company Restricted Unrestrlcted 2023 2022 Living Options Living options- Supporting People Employability & Community Inclusion 9,108.415 9,108,415 1,998.352 4A15,535 15,522,302 8,551,478 1,868,337 5,082,115 15,501,930 1,998,352 4,415,535 13,523,950 1,998,352 Poge JO
The Cedar Foundation Annual report for the year ended 31 March 2023 Notes to the accounts (continued) Investment income Group Restricted Unrestricted 2023 2022 Income from investments 112541 112541 78.613 Company Restricted Unrestricted 2023 2022 Income from investments 112,541 112.541 112.541 112.541 78,613 78,613 Expendlture on charltable activitles The company allocates its costs between Restricted and Unrestricted expenditure as follows: Restricted Unrestricted 2023 Group 2022 Living Options Living Options- Supporting People Employability & Community Inclusion 9,471,215 9,471,215 3,127.777 6 012 964 18611956 9,925.418 2,753,121 4 754 865 17 433 403 3,127,777 6 012 964 15484 179 3 127 777 Company Restricted Unrestricted 2023 2022 Living Options Living Options - Supportlng People Employability & Community Inclusion 7,578,873 7,578,873 2,512,628 6,012,964 16 104465 8.236,801 2.260,032 4,754 865 15 251698 2.512,628 6,012,964 13,591,837 2 512,628 Direct care staff costs include the provision of personal care and housing support to the people we support. Page31
The Cedar Foundation Annual re rt for the ar ended 31 March 2023 Notes to the accounts (continued) Employee inforniation The average weekly number of persons, including part time and relief staff employed by the group dun'ng the year v/as'. Group 2023 Number 2022 Number By actlvlty: Admin & PR Unit Managers & Deputies Ancillary 49 36 324 409 51 33 309 393 Company 2023 Number 2022 Number y acllvlty: Admin & PR Unit Managers & Deputies Ancillary 44 32 242 318 46 29 223 298 Group 2023 2022 Staff costs Wages and salaries Social security costs Pension costs (defined contribution scheme) Agency staff Apprenticeship Levy 11,420,162 10,701,418 929,107 894,871 343,041 359,517 3.010,834 1,907,756 32,642 33,846 15,735,786 13,897,408 Company 2023 2022 Staff ¢05ts Wages and salaries Social security costs Pension costs (defined contribution scheme) Agency staff Apprenticeship Levy .843,076 9.899.107 806,001 778,395 311.419 331,596 2.654.704 1.875.791 32.642 33.846 13,647,842 12.918,735 Page 32
The Cedar Foundation Annual report for the year ended 31 March 2023 Notes to the accounts (continued) Employee information (continued) The number of employees in the Group and Company whose employee benefits (excluding employer pension costs) exceeded £60.000 was: 2023 2022 No. In the band £60,001- £70.000 In the band £70,001- £80,000 In the band £80,001- £90,000 In the band £90,001- £100,000 The total amount of employee benefits (excluding employer pension wsts) received by key management personnel during the period was £470,351. During the year no Trustee received any remuneration, benefits in kind or feimbursement of expenses (2022.. £nill. Net incomlng resources 2023 2022 N•t In¢omo1(expendltur•) Is Stated after charglng1(cr•dltlngl: Group Oepreciation on tangible owned fixed assets IProfit)ILoss on revaluation of investments Interest and dividends receivable Auditors. remuneration audit (Profit)ILoss on disposal of tsngible assets 271,751 287,110 (225,062) (164,436) {112,$41) 178.613) 21,600 18,000 (10.4411 11,738 Taxatlon The group is exempt from taxation due to its charitable status as approved by the Inland Revenue and Revenue Commissioners. No tax is therefore payable on the surplus for the year (2022.. nil). 10. Audltors, remuneration 2023 2022 Fees payable to the company's auditor for the audit of the group and subsidiary annual accounts 21,600 18,000 Page 33
The Cedar Foundation Annual report for the year ended 31 March 2023 Notes to the accounts (continued) 11. Tangible fixed assets Group tanglbl• flxod assals Land and buSld5ngs Fixturos & fittings & computer equlpment Motor vehlcles Total Cost At 1 April 2022 Additions Disposals At 31 March 2023 3,693,369 21,584 (101,640) 3,613,313 803,539 79,080 (3,288) 879,331 142,869 4,639,777 100.664 (104.9281 4,635,513 142,869 Depreclatlon At 1 April 2022 Charge for the year Disposals At 31 March 2022 1.766,495 96,930 (26,868) 1,836,557 467,400 163,736 (1,065) 630,071 124.334 11,085 2,358.229 271,751 (27,933) 2,602,047 135,419 Net book valuos At 31 March 2023 At 1 April 2022 1,776,756 1,926,875 249.260 336,139 7,450 18,535 2,033,466 2,281,546 Company tsnglbl• flxed a88ets Land and bulldlngs Fixtures & flttlngs & Computer equlpment Motor v•hlcl•$ Total Cost or valuallon At 1 April 2022 Transfer Communities Additions Disposals At 31 March 2023 2.855,219 791,064 774,158 19,716 141,669 752 3,771,046 811,532 Croft 20,644 88,185 3 578,742 71,280 91,924 88,185 4,583,317 865,154 142,421 Deproclatlon At 1 April 2022 Charge for the year Disposals At 31 March 2023 1,748,070 80,786 (26,870) 1,801.986 458.631 157,866 {603) 615.894 124.074 10,897 2.330,775 249,549 27,473 2,552,851 134.971 Net book values At 31 March 2023 At 1 April 2022 1,776,756 1.107,149 249,260 315,527 7,450 17.595 2,033,466 1,440,271 Page 34
The Cedar Foundation Annual report for the r ended 31 March 2023 Notes to the accounts (continued) 12. Invostments 2023 Investments at market value at 1 April 2022 Inveslment income feinvested Purchase of investments Disposal of investments Net gainl{loss) on revaluation and realisation Investments at market value at 31 March 2023 3,149,709 {225,062} 2.924.647 During the year the Cedar Foundation did not purchase any additional shares in the Northern Ireland Central Investment Fund. At 31 March 2023 The Cedar Foundation hekl 199,913 shares valued at 1,463.96 pence per share (2022: 1,575.54 pence per share> in Ihe Northern Ireland Central Investment Fund for Charities. This revaluation resulted in a £225,062 decrease in market value. The histocic cost of the tolal investments held at the year end was £2,500,000 (2022. £2.500,000). 13. Debtors Group 2023 Group Company 2022 2023 Company 2022 Amounts falling due wlthln one y•ar: Trade debtors Other debtors Prepayments and accrued income Grants recéivable 1,701,131 1,187,695 1,701.131 1,118.007 380,488 289,145 380,488 269,717 224,886 205,802 224,886 173,725 393,938 641,073 393,938 572,331 2,700,444 2.323,714 2,700,444 2.133,781 14. Credltors: Amounts falllng due within one year Group 2023 Group 2022 Company 2023 Company 2022 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 432.654 196,41 S 143,753 515,661 1,288,483 442,455 190,153 152,959 876.966 1.662,532 432.654 196,415 143,753 517,251 1,290,073 409,993 189,615 135,246 760,941 1,495,795 Page 35
The Cedar Foundation Annual re rt for the ear ended 31 March 2023 Notes to the accounts (continued) 15. Deferred income Included in accruals and deferred income is deferred income of £190,684 (2022. £483,772) for the Group, and £190.684 {2022'. £483,772) for the Company. Deferred income complises deferred grants and income for seNices to be provided after the year end. 16. Analysis of funds Analys5s of funds by type- Group At 1 April 2022 Incom• ExndIture Transl•rs G8insl At31 (Losses) March 2023 Unrestrlcted funds Dosignated funds Fixed Asset Resepie Sustainability Service Development Day centre reserve 2.281,549 6.504,647 1,651,635 471,193 1248,081 2,033,468 6,504,647 1,651,853 471,193 218 Goneral funds General Funds Fair value reserve 748,392 15,921,587 (15,484,179) (669,258) 649,709 671,678 (225,062) 1,188,219 424,647 Total unrestricted funds 12,307,125 15,921,587 1 S,484,179 669,258 198,753 12,274,027 Re8trlcted funds Supporting people - Cedar Supporting People - Croft Total restrlcted funds 1,998,352 460,167 2,458,519 {2.512,628) (615,149 (3.127.777) 514,276 154,982 669,258 Total funds 12,307,125 18,380,106 18,611,956 198,753 12,274,027 Page 36
The Cedar Foundation Annual report for the year ended 31 March 2023 Notes to the accounts (continued) Analysls of funds by typ8 . Company At 1 April 2022 Incoma Expendlture Transfers Galnsl Extra- (Losses) and ordlnary r•v3luatlons donatlon At31 March 2023 Unrestrictod funds Designated funds Fixed Asset Reserve Sustainability Servlce Development 1,440,271 4,910,638 1,362,694 1248,081) 841.276 823,946 762.998 2.033,466 6,294,584 2,125,692 560.000 General funds General Funds Fair value reserve 1,155,343 13.668,672 {13,591,837) {1,074,276) 649,709 748,511 (225,062) 566,060 1,395,e38 424,647 Total unroslrlcted funds 9,518,655 13,668,672 <13,591,837) (514,276) 275,368 2,994,280 12,274,027 Ro8trlcled funds Supporting people 1,998,352 (2,512,628) 514,276 Total fund8 r•8trict•d 1,998,352 12,512,628) 514,276 Total funds 9,518,655 15,667,024 16.104,465 275,368 2,994,280 12,274,027 D•signat•d Funds Flxed asset reserve This fund represents the net book value of all the Charity's fixed assets. The Fund is then utilised to offset the impact on the general fund of the depreciation charged on the relevant assets. Sustalnablllty rosorvos The Trustees of The Cedar Foundats'on have a liquidity based approach to reserves which results in the Gharity holding reserves mainly in cash and easily realisable investments. As a risk averse organisation. the reserves strategy is closely aligned to the organisation's risk register and as such. a significant percentage of the reservés, in the region of 75fi/o, are held in this fund to ensure continuing operations, particularly in relation to fluctuations in cash flow. Each service area has been assessed for risk. particularly in relation to how payments by funders affeGt the cash flow. The Sustainability Reserrfes Fund aims to retain the equivalent value of 6 months of salary costs for each service afea. At each year end calculations are undertaken to monitor the percentage of sustainable reserves against actual salary costs Appropriations andlor adjustments are made from year end surplus to those areas within the fund which require additional provision due to increases or decreases in requirements against the 6-month benchmark. The sustsinability reserve has priority over the service development reserve in the event of limited year end surplus and appropriations. Paxe 37
The Cedar Foundation Annual report for the year ended 31 March 2023 Notes to the accounts (continued) Day Cenire Reserve The trustees of Croft Communrties made a decision to open a day centre reserve fund whereby they set aside funds to go towards the bulding of a day centre, 16. Analysis of funds (contlnued) Servlce Development reserves The Trustees a150 recognise that a proportion of its reserves should also be utilised for development opportunities and for infrastnjcture and capital investment in order to remain competilive in an increasingly challenging environment, particularly with the need for competrtive tendering for our services. Within the Service Developmenl Fund. appropriations of general surplus are currently made within the following areas at year end depending on requirements during that particular financial year and known or planned expenditure in the incoming year. Analysis of funds by net asset type - current year Unrestrlcted funds 2023 Restrlcted funds 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total 2,033,466 2,924,647 8,604,397 (1,288,483) 12,274,027 2,033,466 2,924,647 8, 604,397 (1,288,483) 12,274,027 Analysls of funds by net asset typo - prior y8ar Unrostricted funds 2022 Restrlcted funds 2022 Total funds 2022 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total 2,281,546 3,149,709 8,538,402 (1,662,532) 2,281,546 3,149,709 8,538,402 (1 ,662,532) 12,307,125 12,307,125 Puge 38
The Cedar Foundation Annual report for the year ended 31 March 2023 Notes to the accounts (continued) Contingent Ilabilities A contingent liability exists to repay grants received, where certain conditions have not been fulfilled by the company. In the opinion of the Trust8&s. the terms of the letters of offer have been complied with and no liability is expected, 17. 18. Guarantors The company is a company limited by guarantee and does not have share capital. The liability of guarantors is limited to £1 in the event of the company being wound up. 19. Control The company is controlled by a Board of Trust8es. 20. Related Party transactions During the year there were a number of transactions with related parties. All transactions were undertaken on an arm's length basis in furtherance of the company's charitable capabilities. The following amounts were paid during the year.. 2023 2022 Volunteer Now North Down Community NeOrk Northern Ireland Union of Supported Employment Confederaiion of Community Groups (rental of premises) Aspirico UK Limited 2,334 201 2,280 500 18,476 582 18.858 71,016 21. Extraordinary item - Donatlon On 31 March 2023, Croft Communities merged with The Cedar Foundation, all assets and liabilities were transferred to The Cedar Foundation as of this date by way of an Extraordinary Donation. This transfer is treated within these financial statemenls as an "Extraordinary Item - Donation in the amount of £2,994,280. This donation is made up of the transfer of the following assets and liabilities which have been included within each of the relevant headin9s above.. Fixed Assets Debtors Creditors Bank 811,532 448,422 (130,124) 1864 450 2,994,280 Page 59
The Cedar Foundation Annual report for the ar ended 31 March 2023 22. Covid.19 related grants Special recognition payments were recognised from Business Services Organisation and the Northern Ireland Housing Executive during the year totslling £9,020 and £3,075 respectively to cover staff payments and administration costs. In addition, we recognised similar amounts from the South-Eastern Health and Social Care Trust of £9,082 (2022.. £100,164) and the Northern Health and Social Care Trust of £2,70812022.. £144,920). which were Covid-19 related grants to cover expenditure incurred as a result of the Covid-19 pandemic. Page 40