THE SCOUT FOUNDATION (NI)
FINANCIAL STATEMENTS 16-MONTH PERIOD ENDED 31 DECEMBER 2023
COMPANY NUMBER: NI026154 CHARITY NUMBER: XR11142 CCNI NUMBER: 101206
THE SCOUT FOUNDATION (NI) (A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
FINANCIAL STATEMENTS
16-MONTH PERIOD ENDED 31 DECEMBER 2023
| CONTENTS | PAGE |
|---|---|
| Statement of Financial Activities | 3 |
| Statement of Financial Position | 4 |
| Statement of Cash Flows | 5 |
| Notes to the Financial Statements | 6-15 |
SCOUT FOUNDATION (NI) COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES, INCORPORATING THE INCOME & EXPENDITURE ACCOUNT
16-MONTH PERIOD ENDED 31 DECEMBER 2023
| Unrestricted | Restricted | 16 mths ended | Year ended | ||
|---|---|---|---|---|---|
| funds | funds | 31 December | 31 August | ||
| Notes | 2023 | 2022 | |||
| £ | £ | £ | £ | ||
| INCOME | |||||
| Income from Charitable Activities | 4 | 71,098 | 159,801 | 230,899 | 191,170 |
| EXPENDITURE | |||||
| Expenditure on Charitable Activities | 5 | (67,996) | (173,170) | (241,166) | (151,602) |
| TOTAL EXPENDITURE | (67,996) | (173,170) | (241,166) | (151,602) | |
| NET (EXPENDITURE)/INCOME | 3,102 | (13,369) | (10,267) | 39,568 | |
| Total funds brought forward | 12 | 104,743 | 56,345 | 161,088 | 121,520 |
| TOTAL FUNDS CARRIED FORWARD | 107,845 | 42,976 | 150,821 | 161,088 |
The Statement of Financial Activities includes all comprehensive income in the period. All income and expenditure derive from continuing activities.
The notes on pages 6 to 15 form part of the financial statements.
THE SCOUT FOUNDATION (NI) COMPANY LIMITED BY GUARANTEE REGISTERED NUMBER: NI026154
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
| FIXED ASSETS Note Tangible assets 9 CURRENT ASSETS Debtors 10 Cash at Bank and on hand Total Current Assets LIABILITIES Creditors falling due within one year 11 NET CURRENT ASSETS NET ASSETS THE FUNDS OF THE CHARITY Unrestricted Income Funds 16 Restricted Income Funds 16 Total Income Funds 16 |
2023 £ 762 10,240 180,579 190,819 (40,760) 150,059 150,821 107,845 42,976 150,821 |
2022 £ 1,198 16,685 156,909 173,594 (13,704) 159,890 161,088 104,743 56,345 161,088 |
|---|---|---|
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act, 2006 relating to small companies.
The financial statements on page 3 to 15 were approved and authorised for issue by the Board of Directors on 28[th] October 2024, and are signed on their behalf by:
On behalf of the Board
Rónán McGibbon Director
Mary Hogg Director
THE SCOUT FOUNDATION (NI) COMPANY LIMITED BY GUARANTEE
STATEMENT OF CASH FLOWS
AS AT 31 DECEMBER 2023
| Cash flows from operating activities (Deficit)/Surplus for the year Adjustments for Depreciation of tangible assets Decrease/(Increase) in debtors Increase/(Decrease) in creditors Net cash inflow/(outflow) from operating activities Cash flows from investing activities Purchase of tangible assets Net cash flow used in investing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at the end of year Cash at bank and in hand |
2023 £ (10,267) 436 6,445 27,056 23,670 - - 23,670 156,909 180,579 180,579 |
2022 £ 39,568 327 (11,483) (39,681) (11,269) - - (11,269) 168,178 156,909 156,909 |
|---|---|---|
THE SCOUT FOUNDATION (NI) COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
16-MONTH PERIOD ENDED 31 DECEMBER 2023
1. CONSTITUTION
The Scout Foundation (NI) is incorporated in Northern Ireland as a registered charity, and a company limited by guarantee, whose purpose is to promote the development of young people in achieving their physical, intellectual, social and spiritual potential, as individuals, as responsible citizens and as members of their local, national and international communities.
2. ACCOUNTING POLICIES
Basis of preparation
The accounts have been prepared under the historical cost convention. In preparing the financial statements the Charity applies the Statement of Recommended Practice applicable to charities preparing under FRS102 (SORP).
The accounts have been prepared under the assumption that the Charity will continue to operate as a going concern.
The company has opted not to file an analysis of net debt as the company has no debt.
The accounts are prepared in accordance with the Charity’s Memorandum and Articles of Association, the Companies Act, 2006, the Charities Act (Northern Ireland) 2008, FRS 102 and the Statement of Recommended Practice Accounting and Reporting by Charities. The company meets the definition of a public benefit entity under FRS102.
Going concern
Cash flow forecasts have been prepared by management which indicate that the Charity is expected to have sufficient cash flows to meet its obligations for a period of at least 12 months from the date of approval of these financial statements.
The directors have a reasonable expectation, based on its present liquidity position, that the Charity has adequate resources to meet its commitments over the next 12 months from the approval of these financial statements. Accordingly, the Directors continue to adopt the going concern basis of preparation in the financial statements for the year ended 31 December 2023.
Incoming resources
Incoming resources are recognised when the conditions of entitlement, probability and measurement as specified in SORP, are met. The value of volunteer time is not included in the Financial Statements.
Activities for generating funds are the trading and other fundraising activities carried out by a Charity primarily to generate incoming resources which will be used to undertake its charitable activities.
Incoming resources from charitable activities include monies received for the provision of charitable services, and grants received for the provision of specific services.
THE SCOUT FOUNDATION (NI) COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
16-MONTH PERIOD ENDED 31 DECEMBER 2023
The charitable activities have been analysed under the following headings:
Volunteer Support and training
Support and services to the Scouting Movement
Resources expended
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to this expenditure.
Costs of generating funds are the costs associated with generating incoming resources from all sources other than from undertaking charitable activities.
Direct charitable expenditure is that expenditure which is directly incurred in furtherance of the Charity’s objects.
Support costs are costs incurred directly in support of the Charity. The costs are attributed to the activities that they support.
Governance costs are those activities which provide the governance infrastructure which allows the Charity to operate and to generate the information required for public accountability.
Irrecoverable VAT
All resources expended are classified under activity headings that aggregate all costs related to the category. As VAT is irrecoverable, it is charged against the category of resources expended for which it was incurred.
Tangible Fixed Assets
Tangible Fixed Assets are stated at cost less depreciation. Depreciation is provided to write off the cost, less estimated residual value of each asset over its useful life, at the annual rate of 15% straight line. Capital expenditure in excess of £1,000 is taken to the Statement of Financial Position in the year it is incurred and depreciated over its useful life. Expenditure of less than this amount is debited to the Statement of Financial Activities accordingly. Fixed Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value or value in use.
Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, including transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
THE SCOUT FOUNDATION (NI) COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
16-MONTH PERIOD ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES continued
Financial instruments
The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, and impairment loss is recognised in the Income statement.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Charity would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset, and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, including transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Accumulated Funds
Unrestricted Income Funds
Unrestricted Income Funds are available for use at the discretion of the members in the furtherance of the general objectives of the Charity.
Taxation
There is no taxation as the Charity has been granted charitable status by HMRC (Charity Number XR 11142).
THE SCOUT FOUNDATION (NI) COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
16-MONTH PERIOD ENDED 31 DECEMBER 2023
3. LEGAL STATUS
The Charity is a company limited by guarantee and not having a share capital. The liability of each member in the event of winding up is limited to £10.
4. INCOME FROM CHARITABLE ACTIVITIES
| INCOME FROM CHARITABLE ACTIVITIES | ||
|---|---|---|
| 16-month | Year ended | |
| period ended | ||
| 31 December 2023 | 31 August 2022 | |
| £ | £ | |
| Income from Charitable Activities | 230,899 | 191,170 |
| Included within Income from Charitable Activities are the | ||
| following amounts: | ||
| Restricted funds | ||
| EANI Grants | 159,801 | 147,000 |
| Unrestricted funds | ||
| National Office and Provincial Support Grants | 58,033 | 42,367 |
| Training income and support | 9,187 | 250 |
| Bank interest receivable | 13 | 23 |
| Other | 3,865 | 1,530 |
| 230,899 | 191,170 |
During the 16-month period, grant funding of £159,801 (12 mths to 31.08.2023: £147,000) was awarded by the Education Authority. £139,187 was given from the Regional Strategic Funding Stream under the Regional Strategic Support for EA Registered Local Voluntary members fund and £20,614 was given from the Regional Development Funding Stream under the Youth Work Volunteer Development fund. The grants are received in regular instalments during the course of the period and their purpose is to contribute to the costs of delivering the charity’s youth work programme.
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Due to the income recognition requirements under Charities SORP (FRS 102) the total grants received during the financial period are recognised in that period. The Education Authority undertake an annual review of the grants awarded to SFNI and may determine that a refund is required for grant funding already received in the period.
THE SCOUT FOUNDATION (NI) COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
16-MONTH PERIOD ENDED 31 DECEMBER 2023
5. TOTAL RESOURCES EXPENDED
Expenditure on Charitable Activities
Charitable activities have been analysed into three categories as explained in the accounting policies. Costs are allocated using the principles explained in that note. Volunteer support and training includes those activities that support leaders and other adults involved in Scouting. Support and services to the Scouting movement includes activities such as educational activities that members participate in, activities which are aimed at growing the Scout movement and activities such as safeguarding training and insurance, and which assist the activities of the Scout group. Governance costs include the cost of holding Board and General Meetings.
| Analysis of expenditure on charitable activities Note Support and Training 5.1 Support and services to 5.2 the Scouting Movement Governance Costs 5.3 Analysis of expenditure on charitable activities Volunteer support and Training Support and services to the Scouting Movement Governance Costs |
16 mths Ended Year Ended 31 December 31 August Unrestricted Restricted 2023 2022 £ 6,906 £ 25,471 £ 32,377 £ 32,260 61,090 146,445 207,535 117,474 - 1,254 1,254 1,868 67,996 173,170 241,166 151,602 Direct Support Governance Total Total £ £ £ £ £ 32,377 - - 32,377 32,260 - 207,535 - 207,535 117,474 - - 1,254 1,254 1,868 32,377 207,535 1,254 241,166 151,602 |
|---|---|
THE SCOUT FOUNDATION (NI) COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
16-MONTH PERIOD ENDED 31 DECEMBER 2023
5.1 Volunteer Support & Training
| 16 mths | Year ended | |||
|---|---|---|---|---|
| ended | ||||
| 31 December | 31 August | |||
| Unrestricted | Restricted | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Training Expenditure | 2,235 | - | 2,235 | 553 |
| Special Projects | 3,042 | 23,547 | 26,589 | 31,707 |
| Other Provincial Costs | 1,629 | 1,924 | 3,553 | - |
| 6,906 | 25,471 | 32,377 | 32,260 |
5.2 Support and Services to the Scouting Movement
| 16 mths | Year ended | |||
|---|---|---|---|---|
| ended | ||||
| 31 December | 31 August | |||
| Unrestricted | Restricted | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Central Management Costs | 53,839 | 82,326 | 136,165 | 83,691 |
| Repayment of Grant Funding | - | 37,655 | 37,655 | 10,292 |
| Fixtures and Fittings Depreciation | 436 | - | 436 | 327 |
| Office Accommodation & Services | 67 | 26,039 | 26,106 | 15,283 |
| Professional Services | 725 | 328 | 1,053 | 5,344 |
| Other Expenses | 6,023 | 97 | 6,120 | 2,537 |
| 61,090 | 146,445 | 207,535 | 117,474 |
During the period total grant funding of £37,655 (2022: £10,292) was repaid to the Education Authority. £24,310 was repaid in relation to unused EA grant funds from 2021/22 and £13,345 was repaid in relation to 2022/23.
5.3 Governance costs
| 16 mths | Year ended | |||||
|---|---|---|---|---|---|---|
| ended | ||||||
| 31 | December | 31 August | ||||
| Unrestricted | Restricted | 2023 | 2022 | |||
| £ | £ | £ | £ | |||
| Board and general | meetings | - | 1,254 | 1,254 | 1,868 | |
| - | 1,254 | 1,254 | 1,868 |
THE SCOUT FOUNDATION (NI) COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
16-MONTH PERIOD ENDED 31 DECEMBER 2023
6. DIRECTORS
A) Remuneration
None of the directors received any remuneration during the year (PY: £NIL).
| B) | Expenses | |||
|---|---|---|---|---|
| No of | ||||
| Amount | Directors | Nature of | ||
| £ | reimbursed | Expenses | ||
| Expenses | 611 | 3 | Incurred in | |
| carrying out | ||||
| duties as | ||||
| required by | ||||
| PMST and The | ||||
| Scout Foundation | ||||
| (NI). |
7. STATUTORY AND OTHER INFORMATION
| 16 mths ended | Year ended | |
|---|---|---|
| 31 December 2023 | 31 August 2022 | |
| £ | £ | |
| The surplus for the year has been arrived at after charging: | ||
| Depreciation | 436 | 327 |
The audit fee for the period ended 31 December 2023 is to be borne by an associated company, Gasóga na hÉireann/Scouting Ireland CLG. This is consistent with the prior year.
THE SCOUT FOUNDATION (NI) COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
16-MONTH PERIOD ENDED 31 DECEMBER 2023
8. STAFF NUMBERS AND COSTS
The average number of employees employed during the year was 3 (2022:4).
The directors of The Scout Foundation (NI) received no remuneration for their services (PY: nil). No staff emoluments in excess of £60,000 were distributed (PY: nil). There was no compensation paid to key management personnel during the year (PY: nil).
| 16-month | Year ended | |
|---|---|---|
| period ended | ||
| 31 December 2023 | 31 August 2022 | |
| £ | £ | |
| Staff costs: | ||
| Wages and salaries | 125,467 | 77,564 |
| Social welfare costs | 5,018 | 1,410 |
| Pension costs | 2,855 | 1,705 |
| 133,340 | 80,679 |
9. TANGIBLE FIXED ASSETS
| Brought forward | Carried forward | ||
|---|---|---|---|
| 1 September 2022 | Charges | 31 December 2023 | |
| £ | £ | £ | |
| COST | |||
| Fixtures & Fittings | 18,858 | - | 18,858 |
| Computer Equipment | 5,531 | - | 5,531 |
| 24,389 | - | 24,389 | |
| Brought forward | Carried forward | ||
| 1 September 2022 | Charges | 31 December 2023 | |
| £ | £ | £ | |
| ACCUMULATED DEPRECIATION | |||
| Fixtures & Fittings | 18,858 | - | 18,858 |
| Computers | 4,333 | 436 | 4,769 |
| 23,191 | 436 | 23,627 | |
| Brought forward | Carried forward | ||
| 1 September 2022 | Charges | 31 December 2023 | |
| £ | £ | ||
| NET BOOK VALUE | |||
| Fixtures & Fittings | - | - | |
| Computer equipment | 1,198 | 762 | |
| 1,198 | 762 |
THE SCOUT FOUNDATION (NI) COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
16-MONTH PERIOD ENDED 31 DECEMBER 2023
| 10. | DEBTORS | ||
|---|---|---|---|
| 16-month period ended |
Year ended | ||
| 31 December | 31 August | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Other Debtors | 10,240 | 16,685 | |
| 10,240 | 16,685 |
11. CREDITORS: Amounts falling due within one year
| CREDITORS: Amounts falling due within one | year | |
|---|---|---|
| 16- month period ended |
Year ended | |
| 31 December | 31 August | |
| 2023 | 2022 | |
| £ | £ | |
| Amounts owed to related parties | 30,053 | - |
| Other Creditors | 2,854 | 11,729 |
| Accruals | 2,879 | 510 |
| Other taxation | 4,974 | 1,465 |
| 40,760 | 13,704 |
Amounts owed to related parties are payable to a related company Gasóga na hÉireann / Scouting Ireland CLG.
| Ireland CLG. | |||
|---|---|---|---|
| 16- month | |||
| period ended | Year ended | ||
| 12. | FUNDS | 31 December | 31 August |
| 2023 | 2022 | ||
| £ | £ | ||
| At 1 September 2022 | 161,088 | 121,520 | |
| (Deficit)/Surplus for year | (10,267) | 39,568 | |
| At 31 December 2023 | 150,821 | 161,088 |
13. CAPITAL COMMITMENTS
The Charity had no capital commitments at the year end.
14. CONTROL
The controlling parties of the Charity are considered to be the members.
THE SCOUT FOUNDATION (NI) COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
16-MONTH PERIOD ENDED 31 DECEMBER 2023
15. RELATIONSHIP WITH OTHER CHARITIES
The Scout Foundation (NI) is associated with Gasóga na hÉireann/Scouting Ireland CLG a company incorporated in Ireland. In the 16-month period ended 31 December 2023, donations amounting to £60,934 (2022: £42,367) were received from Gasóga na hÉireann/Scouting Ireland and amounts owing to Gasóga na hÉireann/Scouting Ireland CLG at period end were £30,053 (2022: £nil).
16. ANALYSIS OF FUNDS
| Balance | Incoming | Resources | Balance | |
|---|---|---|---|---|
| 2022 | Resources | Expended | 2023 | |
| £ | £ | £ | £ | |
| Analysis of unrestricted reserve | 104,743 | 71,098 | (67,996) | 107,845 |
| Analysis of restricted reserve | 56,345 | 159,801 | (173,170) | 42,976 |
| 161,088 | 230,899 | (241,166) | 150,821 |
17. COMPARATIVE FIGURES
Certain prior year amounts have been reclassified for comparative purposes.