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 be￿een 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
Inte￿st 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• Ex￿ndIture
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 Ne￿Ork
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