COMPANY REGISTRATION NUMBER: N1027175 CHARITY REGISTRATION NUMBER: 101249 Springboard Opportunities Limited Company Limited by Guarantee Financial Statements 31 March 2023 Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Springboard Opportunities Limited Company Limited by Guarantee Financial Statemènts Year ended 31 March 2023 Page Trustees, annual report (incorporating the directorfs report) Independent auditor's report to the members 23 Statement of financial activities (including income and expenditure account) 29 Statement of financial position 30 Statement of cash flows 31 Notes to the financial statements 32 Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Raport) Year ended 31 March 2023 The trustees. who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2023. Reference and administrative details Registered charity name Springboard Opportunities Limited Charity registration number 101249 Company registration number N1027175 Principal office and registered Louren8 House office 112 - 114 Donegall St Belfast BT1 2GX The trustees E Molloy J Redpath D Rowan l Jamison S Kelly D Power T Losty (Resigned 5 April 2023) (Appointed 13 September 2023) Company secretary Angila Chada Auditor Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Structure, governance and management Legal status Springboard Opportunities Limited (Springboard} is a company limited by guarantee incorporated on 22 January 1993 and registered with the Inland Revenue on 6 September 21)00. The Company registration number is N1027175 and the Charity Reference Number is XR26582. Our organisation was established in 1992 and incorporated in 1993. It is governed by its Memorandum and Articles of Association, which were last amended on 23 June 2016. Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continu￿) Year ended 31 March 2023 Structure, governance and management (continued) Trustees Springboard applies a range of methi)ds to appoint Trustees. this includes targeted advertising andlor using trustee brokerage services. Applicants are provided with detailed information including role specification and description along with details such as time commitment as well as process for application. Subject to approval by the Board. preferred candidates are identified and invited to join after appropriate vetting has taken place. Springboard employs clear policies and procedures for a comprehensive induction of Trustees. AJI new Trustees are provided with a detailed induGtion pack which includes CU￿ent Directors and Professional Advisors-. roles and responsibilities and Code of Practice.. information on Springboard. New Trustees also receive the most recent financial statements. Board meetlng papers. a copy of the company's governance procedures and guidance from Charity Commission for N Ireland. Induction also includes meeting senior management t8am and visiting programmes. Trustees deploy a wide range of skills and experience essential to good governance and, the balance of expertise is kept under review. The board has the responsibility for the governance and strategic direction of Springboard, ensuring the charity upholds its ethos and values and work 15 aligned to charity objects. Tha Board of Springboard meet at least every 2 months and are responsible for the strategic direction and policy of the charity. At these meetings, the Trustees agree broad strategy and areas of activity for the organisation. including consideration of governanc&, reserves and risk managèment policies and perfomiance. At present the Board has six members with significant experience of the voluntary, community and public sector in Ireland. The Company Secr8tary l Executive Director also att8nds the Board but has no voting rights. The Executive Director is responsible for the operational management of the charity. She is responsible for ensuring the charity delivers the seNices specified and that key objectives are met. Thos8 who serv8 on the Board of Springboard Opportunities Limited (Springboard) have responsibilities both under Company Law as Directors and under Charity Law as Trustees. Each new Director is asked to abide by Springboard's Code of Practice which defines the standards expected of Springboard Directors in order to ensure: the organisation is effective, open and accountable., the highest standards of integrity and stewardship is achieved- and the working relationship with any staff and advisers is productive and supportive. Audit & Risk Committee Springboard Board established ARC to underpin robust audit and governance systems and ensuring the organisation meets the required standards of financial and legal probity. ARC is primarily responsible ft)r ensuring the effectiveness of the intemal and external audit tunctions and considers any significant issues arising in respect of either internal or external audit arrangements. ARC also reviews the adequacy of the internal control environment and risk management processes. Wtth support of ARC. Directors conduct a review of the major risks to which the charity is exposed. A risk register has been established and where appropriate, systems or procedures have been established to mitigate risks the charity faces. This involves identifying the types of risks the company faces, prioritising them in terms of potential impact and likelihood of occurrence, and identifying means of mitigating the risks. Significant external risks to funding requires ongoing diversification of funding and activities. Intemal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with the health and safety of staff, volunteers, clients and visitors to the premises. Springboard Opportunities Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) {cnntiniiAdJ Year ended 31 March 2023 Structure, governance and management (continued) Appointments & Remuneration Commlttee Springboard established an Appointments and Remuneration Committee to advise the Board about the appointment and appropriale remuneration and terms of service for all staff. in line with the company's charitable status, relevant regulations, good practise, governance and compliant with all aspects of the law. The Committee is primarily responsible for the frameworkjbroad policy for the appointment and pay of all staff, recommend level and structure of remuneration for senior management and consider disciplinary and grievance procedures and sensitive issues of dismissal, performance and complaint, as and when required. Remuneratlon The charity's Trustees and the senior management team Comprise the key management Personnel of th8 charity in charge of directing and Controlling, running and operating the charity on a day to day basis. All Directors give of their time freely and no Director received remuneratlon or benefited from their work with the charity in the year. Details of Directors, expens8s and related party transactions are disclosed in note 13 to the accounts. The starting pay of all stsff is outlined fully in Terms and Conditions of employment. with all staff placed on the NJC scale. Progression on th8 NJC scale is subject to satisfactory performance. All staff must have compl8t8d 6-months Se￿iCe to be eligible for an increment. Satisfactory performance is recommend8d by the Executive Diredor for final approval by th8 Board. In respect of the Executive Director, any increments are subject to approval by the Board. Increments and cost of living increases for all staff are subject to availability of budget. Relatlonships with related parties None of our trustees receive remuneration or other benefit from their work with the charity. Safeguarding The charity's Trustees and staff place central importancè on complying with requirements for the protection and safeguarding of young people and adults at risk. An Adult Safeguarding Champion and Deputy Designated Officer are in place with key policies, Adults at Risk and Child Protection Policy kept up to date. The organisation also support staff to keep knowledge and skills up to date. During the audit year the organisation effectively dealt with concerns according to protocols. Obje¢tlves and activities The charity's purpose is reflected in th8ir objects as contained within Springboard's Memorandum and Articles of Association. These objects promote public benefit within the island of Ireland as follows: (a) To provide opportunities, by all or any of the following mean5', Provision of opportunities, by all or any of the following means. to members of socially and economically disadvantaged communities to enable them to devalop their capacity and skills in such a way that th8y are better able to id8ntify and to help them meet their needs and to participate more fully in their communities and society., Promotion of education, training or retraining and provision of work experience, particularly to unemployed people., Provision of assistance in personal development, business advic8 and consultancy- and Provision of support and activities that enable the development of skills, of capacty and capability that enhance social inclusion and participation in communities and society. Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) (continued) Year ended 31 March 2023 Objectives and activities {¢ontlnued) (bl To promote mutual understanding, equality and diversity between people from divarse backgrounds by: Promotion of education and raising awareness in equality and diversity and th8 elimination of discrimination on any ground including of race, gender, disability, sexual orientstion or religion., Provision of activities to foster understanding between people from diverse backgrounds., and Conducting or commissioning research on equality and diversity issues and making the results of same available lo the public. (c) To promote conflict r8solution, reconciliation and peacebuilding within a natiorsal and intemational context to better understand the benefits of relief from suffering, building and maintaining social cohesion and trust within and be￿een communities by.. Promoting education into the causes and effects of conflict, reconciliation and peacebuilding. and Provision of support and activities Ihat enable development of skills and capacity in conflict resolution, reconciliation and peacebuilding. MAIN ACTIVITIES UNDERTAKEN FOR PUBLIC BENEFIT IN RELATION TO THESE OBJECTIVES Springboard trustees continue to ensure activities focus on public benefit and are within the context of the objects within the charity's Memorandum and Articles of Association. Activitieslservices undertaken during the audit year were targeted at individuals and groups from disadvantaged communities and included the following. Aimed lo increase employability and social inclusion, through provision of activities for 130 young people aged 16-24 years who were not in education. employment or training and from disadvantaged communities in 8elfast (2022- 20231. This programme built on a previous four-year contract to provide participants with an opportunity to co4esign their development pathway based on individual needs. Following engagement phase which included relationship building and baseline assessment. participants designed their pathway by selecting from employment focused activities provided through (1) work readiness d8velopment, (2) one to one mentoring and (3) career development. Participants had an opportunity to participate in one, hvo or all three pathways depending upon assessment of their development needs. The programme was part funded by Nl European Social Fund Programme, Dept for the Economy. Belfasl Cty Council, Ulster Garden Villages and Keltbray. Jobworks - Outcome Areas Personal D9velo ment Springboard Opportunities Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continuèd) Year ended 31 March 2023 Objectives and activities (continued) usio The cross-community programmes {2022-2023) aimed to work with 72 young people aged 14-17-year-olds from schools located in Belfasl, Limavady, Ballymoney and Coleraine. The programme focused on building personal development and good relations culminating in a showcase activity. The programme was funded by Nl Executive Office. Outcome Areas GC￿)d Relations Peacebulldin DIRECTIONS is a 24-monlh youth-led Cross-community programme (2021-2023}. The programme focuses on areas impacted by disadvantage and the legacy of the conflict. The programme aims lo support 15 unemployed young people aged 16-25 years, particularly those at risk of paramilitary involvement and sectarianism. The programme themes are good relations, personal development and employability- The programme is funded by International Fund for Ireland. Outcome Areas Good Relations Personal & Social Develo Tnent Em abili SPACE. , is a year programme {2022-2024) which aims to reach, engage and support over 500 young people through recovery-based services. The programme includes one to onè mentoring. health and wellbeing workshops and peer education activity. The programme also supports stsff development and development of trauma-informed good practice. The programme is funded by Department of Health and managed by Community Foundation Northern Ireland {CFNII. Outcome Areas Mental Health & Wellbein Personal Develo aimed to support leadership development of 10 young people. through an Advisory Group. The Advisory Group worked with their peers to undertake a consultation and convene cross-community youth panels on issues of interest to young people. The Advisory Group also to provide peer mentoring and share their lived experience to improve Springboards, provision. The programme was funded by Departtnent of Foreign Affairs. GEN Outcome Areas Peacebuildin Citizenshi Leadershi Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) (Continu￿) Year ended 31 March 2023 ObJe¢tlves and activities {continued) Headstart aims to annually support up to 48 young people aged 16-17 years (additional crit8ria apply for up to 24 years) who wish to build key personal and employability skills, gain essential skills and vocational qualrfications in either youthwork or customer services. The rolling programme is funded by the Department of Economy. Outcome Areas Personal Develo ment lo YOLrfH The Youthstart programme was funded under the Community Renewal Fund by the sfA UK Gov8mment and delivered through a consortium of partners which included Springboard, Princes Trust, Northern Ireland Youth Forum, Bytes and was led by Youth Action Nl. Through the consortium the project aimed to target 125 economically inactive young P80pl8 through a bespoke framework to build skills for leaming. life and work. Springboards, Youthstart programme (2022) aimed to support 30 young people aged 16-25 years not in education. employment and training. who needed support on their employabilityjourney. Outcome Areas Personal Develo bili i I Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢onllnued) Year ended 31 March 2023 Achievements and performance During the last audit year (2022-2023) Springboard was involved in the inception, delivery and management of significant activities and programmes in support of their charity objects. Delivery focused on capacity buildinglemployability, wellbeing, mutual understanding and community participation with activities designed and delivered within each or across these pillars. The organisation delivered significant impact and provided publlc benefi( which illustrated by the organisation's 2022-2023 impact summary outlined below. end of 31,.March 2023 Good Relations Communlty (FusiDn+ & Joumey$) IFu$lon+ & Journeys) Personal Development Fusion+ & Joume Employabllity (Jourtieys &,JobWorks) - 90Q/o understood young people from a different background 73010 were hap.py wlth their self- confidence F, 734/0 were very Involved. in activities or services In the local cornmunity 98ri/o found it easy to respect young people from a different back round Qualification Attainment Exceeded target +42°/o 11&24ygar tsoliorts) progr.essed to employment, further" .educatio_n,or tralning Enrolmont Completion Exceeded target +19% Exceeded target By 31st March 2023 the organisation had reached in excess of 14000 people since its inception in 1992. During the audit period key programme achievements for the organisation included the following. JobWorks+ delivered impactful employabilty programmes with engagement and qualification targets of the programme all exceeded during the period and there were positive progressions for young people as they moved to further educationltraining or employment. JobWorks+ activity was also deliv8red in partnership with eg Kids Together, Lists Go Hydro and Nl Opera on production of their Nobody Somebody project - a play about the ne8d for social housing, which r8sulted in some young people gaining paid employment. Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report (In¢tsrporating the Director's Report) (continued) Year ended 31 March 2023 Achievements and performance (Continued) HBOAR - JOBWORKS+ ro ramme end Personal Develo ment Em loyabili 700/0 were happy with their self-confidence I nj ki 730A felt prepared to move into employment. training or education Enrolment Quallflcation Attainment Impact Exceeded target +20 Exceeded target +16 % 66°/o said the programme had a major positive impact Completion Progression to EET Recommendation 92°/o of target 89Yo of target 970/0 said they would absolutely recommend rin board to their friends During 2022-2023 Springboard also worked with 14-17 year olds on two programmes Fusion+ Belfast working with schools in Belfast and Fusion+ North Wesl working with schools in Limavady, Ballymoney & Coleraine. FUSION+ BELFAST PRESENTS... nur Lives. (￿r W()rkl" ALTEFINATIVE WORLD NEWS -.jop ' T:t T:kn 10 Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continuèd) Year ended 31 March 2023 Achievements and performance {¢ontlnued) The programme involved good relations workshops which explored identity, difference, community and diversity through shared team activities. Key highlights from the proj8cts were the programmes finale showcase performances where participants celebrated diversity. Fusion+ 881fast completed their showcas& in Duncaim Arts Centre on 1st March 2023. The theme of the showcase focused on "An Alternative World" where they imagined a world that actively promoted acceptance and p8ace, a world without prejudice and discrimination. The performance was set around a news broadcast looking into the past, into how the new world was formed and the lessons that had been learnt by society. Fusion NW completed their showcase activity on 8th March 2023 in Roe Valley Arts C&ntre: 'Our Lives, Our World, LabellinglldentitylDiscrimination with a perfomiance that included artwork, poetry, movement and monologues. Each group also documented their journey through video available on the Springboard youtube channel- North West- htt s'.11 outu.beloThJJWE6JZQ IBelfast- h s.'Il outu.b812T ARw2HdlE YouTube ', App - YouTube L4 Open App Fusion+ 2022123 North West Fusion+ 2022123 Belfast 11 Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlntsed) Year ended 31 March 2023 Achievements and performance {continued) IMPACT DASHBOARD- FUSION+ BELFAST ro ramme end Personal Develo ment Good Relations 880/0 were happy with their self-confiden 95'A understood young people from a different background 95 % were happy with their communication skills 950/0 found rt easy to have a positive attitude I towards young people from a different back round Impact Enrolment Exceeded target +10°/o 66 % said the programme had a major positive act Recommendation Completion Achieved tsrget 100 / 95 /0 said they would absolutely recommend rin board to their friends IMPACT DASHBOARD- FUSION+ NORTH WEST ro ramme end ,IL Personal Develo ment Good Relatlons 81 /• were happy with their self-confidence 97% understood young people from a different background 88Yo were happy with their communication skills 970/0 found it easy to have a positive attitude I, towards young people from a different back round Impact Enrolment Achieved target 1000/0 79 % said the programme had a major positive impact PT, Completion Recommendation Achieved target 100 % 100010 said they would absolutely recommend rin board to their friends "FLision+ has helpecl c,*aiige l?oiJ/ I tliiiiA about other people livho ar. al￿.1] aiicl ei/ei? Jay ploijed sA-:'IlJ to i":trlo others" 14 Springboard Opportunities Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report> (¢ontinued) Year ended 31 March 2023 Achievements and performance (Gontinuedj '.4 IMPACT DASHBOARD- M4PACE (DEPT OF HEALTH) YEAR10F2 MIDWA Schools Worksho Mental Health Ambassadors By end By end Adult Workshops By end 90 % felt connected to peers, family, community 65 % increased understanding of how to manage feelingslemotions 100 /0 felt they had control over their life and a sense of purpose 850/0 were very confident at managing stress, anxie emotions 1000/0 could manage their wellbeinglmental health 71% felt clearer their goals & more ositive about their future Overall Enrolment Exceeded target +27 % Completion EX￿eded target +270/0 NextGen supported the development of 12 youth ambassadors through an Advisory Group. The group acted as an agent of change by consulting peers and convening youth panels on issues of interest.. providing peer mentoring and proactively contributing perspectiveslinsights of their lived experience to improve Springboards, provision. The Advisory Group developed a survey which captured the views of young people around key issues impacting them and their communities. Consulting with young people from diverse and disadvantaged communities the group collated the data of main issues coming from 80 young pèople. This determined the themes of four youth cross- community panels: mental health, debt. unemployment and body image. In order to maximise awareness of their findings the young people also put together a social media campaign and an e-publication. The e-publication of NextGen findings can be found here NextGen htin The IsRLies Far.in Ynijn Pen le Todav IsnrinnhnArd- en.co.uk) 64 Sprffi*oard I '. bee. aa GCSES AS weu d% rMI￿t Mesth wbere I next YT•er pey*- 15 Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) fctsntlnuédj Year ended 31 March 2023 Achievements and perforniance (continued) ro ramme end Leadershi & Peer Educator 1000/0 were happy with their leadership skills Personal Develo ment 1009/• were happy with their self-confidence 100 % Ii'Èr8 hL1PPy I'iilh tneir conimLinicatiDn £kills Enrolmént 100i/ip felt very confident being a peer educator Impact Target exceeded +20 /. Qualification Attainment 1000A said the programme had a major positive impact Recommendation Completion Target exceeded +420 Target ex￿eded +20Yo 100°/o said they would absolutely recommend Springboard to their friends The Headstart programm8 is a rolling prc4Jramm8 SUPPOrting young people build key personal and employability skills, gain essential skills in Literacy. Num8racy and ICT and vocational qualifications in youthwork or customer services. During 2022-2023 young people achieved a wide range of qualifications in OCN Personal Success & Wellbeing, OCN Employability in addition to either OCN Youth Work Practice or OCN Customer Services. Young people are engaging in intensive work placement and world of work activities. induding site visits to eg Tesco, Lidl, Queens University. The programme is highly impactfvl for participants on their employability joumey. Al "We're getting ready for employment. We have the chance to do placements to get ready for being in the workforce. Wts ge( siipport to do training 817d we Gan pick any Gourse for the Gareer that we want to do.. 16 Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2023 Achievements and performance feontlnued) IMPACT DASHBOARD- HEADSTART 2022-2023 Personal Develo ment 91 /0 were happy with their self-confidence Em abili 689/0 had a clear idea of what kind of work they would like to do in the future 820/0 were happy with their communication skills Impact 89 /0 said the programme had a major positive impact Enrolment Target exceeded +48Y. Recommendation 1000/0 said they would absolutely recommend Springboard to their friends Youthstart was a pilot programme delivered under the UK Community Renewal Fund. Young people were not in employment, education or training and resident in economically and socially disadvantaged areas of Belfast. The programme supported young people who wère 'stuck' and found it challenging to enter and make transitions onto and through their employability journey. With a dedicated key worker, each participant attended personal development and employability workshops complemented by one to one mentoring support. Attènding aGGredited training, achieving qualifications and accessing an individual development budget boosted their skills profile, confidence. work- readiness skills and sector-specific understanding. Participants increased motivation, sense of agency and leamt how to cope with setbacks. NEW YOUTh LEAOERSHIP PROGH41P4ME 17 Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnuéd) Year ended 31 March 2023 Achievements and performance (continued) IMPACT DASHBOARD - YOUTHSTART , ro ramme end Personal Develo ment 90 /0 were happy with their self- confidence lovabili 87 % felt clear about what they wanted to do in the fvture 900A were happy with their 70Yo felt prepared to move into communication skills em lo ment, trainin or education Enrolment Qualification Attainment Impact Exceeded target +30/. Achieved target 100 /. 93 /D said the programme had a major positive impact Completion Progression to EET Recommendation Achieved target 1000 800/0 of target 100 % said they would absolutely recommend rin board to their friends By the end of the audit year Springboard was successful in securing Moments to Connect funding with Our Lives, Our Legacy a youth leadership programme funded by Spirit of 2012, TikTok Creative Academy funded by TikTok and managed by England-based organisation Catch 22, Youthstart an employability programme delivered as part of a 7-partner consortium, funded under UK Shared Prosperity Fund by Dept for Levelling Up, Housing and Communities, and Bridges to Progression funding from Belfast City Council, under their Labour Market Partnership initiative. I Wglild, kctogi Jii,'ti some feedback oil mj expei-iericts li/, 1,1 JoriniJDoai-cl. Firstli. I'd jllbt like to ts3/1 SJriiigooa,"cl p,*angecl rF7y life for th.e bottgr in mcl1?/ way s. The ,ry?enlJrs aiid the 1- 7a a," aiioiil tslli 917,, aZlI?g, so Ll,'?derJlai7ding 41?d they treafracy n?e yyilhi Lltfloit reii?ekn-t. fhey really are 41n,,- g 3,Yu Jiipnortl'ie or ei/ari '!.ling I did. l loi/=d and iuokocl I"ornvard ta eb'@r 'h: Ih&:ry. T,iei/ k.,elpec. m>. nien+al ,4ealth maji)rl/ afiq I COL,'Id,,;'* be aiiy happier 41ecY ,,7ie. l ￿11￿1114 like to iif?f-erelJi th, a,-:k Èhe,tn ail For ei,iari.fTr,.iiig !,4ey aid. .oniry,efJcI Iqji IO =VER Y j-OLiilb P&l-S.gn,, th. a,':it yoii 211 sa nii icn.- 18 Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directorfs Report) (¢ontlnued) Year ended 31 March 2023 Achievements and performance (Qontlnuedj Evidence based impact measures have been used to reflect performance and Springboard is committed to providing the organisation with clear benchmarks for future development and sustainable growth. SPRINGBOARD 2022-2023.,.._ IMPACT 740/0 of participants reflected their participation had a major positive impact on their life. RECOMMENDATION 98°/o of participants said they would absolutely recommend Springboard to other people. 19 Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrector's Report) (conllnued) Year ended 31 March 2023 Financial review During the ￿e1Ve-Month period ended 31st March 2023 Springboard Opportunities net outgoing resources were £54,633 {2022: Net income £176,677). Prfnclpal funding sources Th& organisation had a range of funding sources during the audit period. The principal funding sources for the organisation were Community Relations Council, Departmenl for the Economy through European Social Fund for JobWorks+ programme, Skills for Life and Work programme for Headstart, UK Community Renewal Fund for Youthstart and National Lottery Dormant Accounts. Funding was also secured (hrough The Executive Office, the Department of Health and the Intemational Fund for Ireland, and Department of Foreign Affairs, Reconciliation Fund. Investment powers and policy Under the M&morandum and Articles of Association, the charity has the power to invest in any way the Directors wish. However asidè from retaining an amount in reserves each year (if available) most of the charity's funds are spent on activities as agreed with funders. The Directors have operated a policy of ensuring reserve funds are held in an interest-bearing account. Resorves pollcy and golng Concern Tha policy of the charity is to establish and maintain sufficient levels of reserves which ensure Springboard's Core activity could continue during a p8riod of unforeseen drfficulty or emergency such as asset recov8ry, funding gaps in allocation and l or meet contractual obligations should thè organisation have to reduc81close. This includes redundancy pay, amounts due to credilors and commiknents made under leases. In light of this policy, members of the Audit and Risk Committee (ARC) review reserves and risks on an ongoing basis, with Directors carrying out an annual examination of the charity's requirements for reseNes and consideration of the main risks to the company. This examination takes account of the nature of income and expenditure streams, the need to match variable income with fixed commitments and the nature of the reserves. The Directors have concluded that to allow the charity to be managed @fficiently, and to provide a buffer, a general res8rv8 which equates to approximately 6 months of unrestricted fund expenditure should be available. Directors continu8 to axplore the level of reserves and are considering ways in which additional funds can be raised. They are also awar8 this may be difficult given the backdrop of limited resources and ongoing constraints around funding and th6r8fore are also committed to ongoing economies should circumstances arise where reserves are required. The next review of reserves will take place at the Annual General Meeting in September 2022. The total reserves held at the period end were £798,284. Unrestricted reserves freely available to spend. therefore excluding fixed assets, restricted reserves and designated reserves amounted to £596,556 which was in line with the target level. Restrict8d r8S8rves at the period end equated to £198,030. The truste8s believe this represents a sufficient level of r&s8rve to ensure that the going concem assumption is appropriate. PLANS FOR FUTURE PERIODS Over the next I￿e1ve months Springboard plans to build on the learning and experiences of services and actlvities as outlined above, as aligned within our company objects. During 2023-2024 the organisation will continue to deliver contracted programmes and develop new programmes secured at the latter and of the audit year, Youthsiart (UKSPF), TikTok Creative Academy (Catch 22), Our Lives Our Legacy (Spirit) and Bridges io Progression (Belfast City Council). Focus will also continue on fundraising to underpin sustainability and further support young people and contribute to building a peaceful and cohesive society. 20 Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contiftu Year ended 31 March 2023 Trustees. responslbilities statement The trustees, who are also directors for the purposes of company law. are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure. for that period. In preparing these financial statements, the trustees are required to= seled suitable accounting policies and then apply th8m con51Stently'. observe the methods and principles in the applicable Charities SORP; make judgments and accounting estimates that are reasonable and prudent. prepare the financial statements on the going con￿rn basis unless It is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charty and hence for taking reasonable steps for the prevention and det8Ction of fraud and other irregularities. Auditor Each of the persons who is a trustee at the dat8 of approval of this r8POrt confirms that: so far as they are aware, there is no relevant audit infomiation of which the charivs auditor is unaware: and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the Gharity's auditor is aware of that information. Small Gompany provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. 21 Springboard Opportunities Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating th8 Director's Report) (conllnuod) Year ended 31 March 2023 The trustees, annual report was approved on 7 November 2023 and signed on behalf of the board of trustees by: J Redpath Trustee Springboard Opportunities Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Springboard Opportunities Limited Year ended 31 March 2023 Opinion We have audited the financial statements of Springboard Opportunities Limited (the 'charty'l for the year ended 31 March 2023 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a truè and fair view of the state of the charity's affairs as at 31 March 2023 and of its incoming resources and application of resources. including its income and expenditure, for the year th8n ended; have been properly prepared in accordance with United Kingdom Generally A¢￿pted Accounting Practice" have been prepared in accordance with tha requirements of the Companies Act 2006. Basls for opinlon Wa conducted our audit in accordance with International Standards on Auditing (UK) (ISAS {UK)) and applicable law. Our responsibilities under those standards are further described in the auditorfs responsibilities for the audit of th8 financial statements section of our report. We are independent of th8 charity in accordance with the ethical requirements that ar8 relevant to our audit of the financial ststements in the UK, including the FRC'S Ethical Standard. and the provisions available for small entities, in the circumstances set out below, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We beli8ve that tha audit evidence we have obtained is suffscient and appropriatè to provide a basis for our opinion. In common with many other organisations of oursiz8 and nature we use auditors to prepare and subimit returns to the tax authorities and assist with the preparation of our financial statements. Conclusions relatlng to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the charity's ability to continue as a going Concern for a period of at least ￿e7Ve months from when the financial statements ar8 authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of thls report. 23 Springboard Opportunities Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Sprlngboard Opportunities Limited (¢ontlftued) Year ended 31 March 2023 Other Information The other information comprises the information included in the annual report. other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other infomiation. Our opinion on the financial ststements does not cover the other infomiation and, except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or othewise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material mi5Statement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatem8nt of this other information. we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on the work und8rtak8n in the course of the audit- the information given in the trustees, report for the financial year for which tha financial statements are prepared is consistent with the financial statements; and the trustees, rèport has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exceptlon In the light of the knowledge and understanding of the charity and its environment obtained in the course of tha audit. we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial statemerits are not in agreement with the accounting records and returns- or certain disclosures of trustees, remuneration specified by law are not made; or we have nol received all the infomiation and explanations we require for our audit., or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and tske advantage of the small companies. exemptions in preparing the directors, report and from the requirement to prepar8 a strategic report. 24 Springboard Opportunities Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Springboard Opportunitles Limited (continued) Year ended 31 March 2023 Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees (who are also the directors for the purposes of company law} are responsible for the preparation of the financial ststements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going con¢em basis of a¢¢ounting unless the trustees aither intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 25 Springboard Opportunities Limited Company Limited by Guarantee Independent Audltorfs Report to the Members of Springboard Opportunltles Limited (¢ontlnu8d) Year ended 31 March 2023 Auditorfs responslbilities for the audit of the financial statements Our objectives are lo obtain reasonabl8 assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misststement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud. are instances of non-¢ompllan¢e with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Th8 extent to which our procedur8s are capab18 of detecting irregularities, including fraud is detailed below: In identifying and assessing risks of material misstatement in respect of irregularities. including fraud and non-compliance with laws and regulations, we considered the following: the nature of the industry and sector, control environment and business perfomiance including the design of the remuneration policies, key drivers for directors, remuneration, bonus levels and performance targets; results of our enquiries of management about their own identification and assessment of the risks of irregularities- any matters we identified having obtained and reviewed documenlation of their policies and procedures relating to: identifying, evaluating and complying with laws and regulations and whether management were aware of any instances of non-compliance., detecting and responding to the risks of fraud and whether management have knowledge of any actual, suspected or alleged fraud., the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations. the matters discussed among the audit engagement team including significant component audit teams and relevant intemal sp8cialists, including tax and valuations specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these proc8dures, we considered the opportunities and incenlives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAS (UK), we are also required to perfomi specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks in operation. focusing on provisions of thos& laws and regulations that had a direct effect on the detemiination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included ongoing compliance with the UK Companies Act and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a dir8Ct effect on the financial statements but compliance with which may be fundamental for their ability to operate or to avoid a material penalty. 26 Springboard Opportunities Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Springboard Opportunitles Limited (Gontinued) Year ended 31 March 2023 As part of an audit in accordance with ISAS (UK). we exercise professional judgment and maintain professional scepticism throughout the audit. We also- Identify and assess the risks of material misstatement of the financial statements. whether due to fraud or error, design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery. intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. but not for th8 purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of th8 trustees. use of the going conc8rn basis of accounting and, bas8d on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we Conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, fijture events or conditions may cause the charity to ¢eas& to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 27 Springboard Opportunities Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Sprlngboard Opportunities Limited (continued) Year ended 31 March 2023 We communicate with those charged wilh governance regarding. among other matters. the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stste to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this reporL or for the opinions we have fomied. Conor Dolan FCA (Senior Statutory Auditor) For and on behalf of Flnegan Gibson Ltd Chartered a¢¢ountants & statutory auditor Causeway Tow8r 9 James Street South Belfast BT2 8DN 7 Novemb8r 2023 28 Springboard Opportunities Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Investment income 2.600 10,911 2,600 1.100,520 4,868 1.724.363 1,089,609 Total Income 13.515 1.089,609 1.103.124 1.729,231 Expenditure Expenditure on charitable activities Total expendlture 57,888 1,099,869 1.157.757 1,552.554 57,888 1,099,869 1,157,757 1,552,554 Net (expendlture)lincome (44,373> (10,2601 (54,633) 176,677 Transfers belween funds 9,702 (9,702) Net movement in funds (34.671) (19,962) {54,633) 176,677 Reconclllatlon of funds Total funds brought forward Total funds carried forward 634,925 217,992 198,030 852,917 676,240 600,254 798,284 852,917 The statement of financial actlvities includes all gains and Ioss8s recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 32 to 43 form part of these flnancial stat•ments. 29 Springboard Opportunities Limited Company Limited by Guarantee Statement of Flnancial Posltlon 31 March 2023 2023 2022 Note Fixed assets Tangible fixed assets 14 3.698 1.953 Current assets Debtors Investrnents Cash at bank and in hand 15 16 326.683 594.627 575.159 461.105 901,843 1.055.733 Creditors: amounts falling due within one year Net current assets 17 107,257 204,769 794,586 850.964 Total assets less current liabllities 798,284 852,917 Net assets 798.284 852,917 Funds of the charity R8Stri¢ted funds Unrestricted funds 198,030 600,254 217,992 634,925 Total charlty funds 20 798,284 852.917 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 7 November 2023. and are signed on behalf of the board by.. J Redpath Trustee The notes on pages 32 to 43 form part of these financial Statements. 30 Springboard Opportunities Limited Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2023 2023 2022 Cash flows from operating actlvities Net (expenditure)fincome (54.633) 176.677 Adjustments for.. Depreciation of tsngible fixed assets Other interest receivable and similar income Interest payable and similar charges Accrued in¢om8 2,630 (4} 1,424 (132,911) 4.932 4.228 (38,233) Changes in.. Trade and other debtors Trade and other creditors 267.944 35,399 232,131 {5.966) 373,769 Cash generated from operations 119.849 Interest paid Inter8St received (1,424) (4,228) Net cash from operating activities 118,429 369.541 Cash flows from investing actlvltl8S Purchase of tangible ass8ts Net cash used in investing activities (4,375) (4,375) (1,148) (1,148) Net Increase in cash and cash equivalents Cash and cash equlvalents at beglnning of year Cash and cash equivalents at end of year 114,054 461.105 368,393 92,712 575,159 461.105 The notos on pages 32 10 43 forn) part of these financial statements. 31 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 General information The charity is a public benefit entiiy and a private company limited by guarantee, registered in Norlhern Ireland and a registered charity in Northern Ireland. The address of the registered office is Lourene House, 112- 114 Donegall St. Belfast, BT1 2GX. SLitement of compliance These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of Recomrnended PraGtiGe applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Compani8s Act 2006. Accounting policies Basis of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statem8nts are prepared in sterling. which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judg8ments and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgem8nts,estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the Circumstances. Foreign curren¢les Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date. with any gains or losses being taken to the statement of financial activities. 32 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Flnanclal Statements {conllnued) Year ended 31 March 2023 Accounting policies (continuèd) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds eamiarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of two sub-classes.. restricted income funds or endowment funds. Incoming resources All incoming resource5 are in¢lud8d in the statement of financial activities when 8ntitlement has passed to the charity. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is reGo9nisad when there is evidence of entitlement to the gift, r8c81Pt is probable and its amount can be measured reliably. legacy income is re¢ognised when receipt is probable and entitlement is established. income from donated goods is measured at th8 fair value of the goods unless thls is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are re¢ognised in the accounts when received if the value can be rèliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services Is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 33 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Accounting policies (eontlnued) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates= expenditure on raising funds includes the costs of all fundraising activities. events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable aGtivities includes all costs incurred by a charity in undertaking activlties that further its charitable aims for the benefit of its beneficiaries, including those support costs and Costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that Is neither related to raising fund5 for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared Costs are apportioned between the activities they Contribute to on a reasonable, justifiable and consistant basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangib16 assets carried at revalued amounts a￿ recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an assel as a result of revaluation. is recognised in other recognised gains and losses. except to which it offsets any previous revaluation gain. in which case the loss is shown within 0th8r recognised gains and losses on the statemènt of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset. less its residual value, over the useful economic lrfe of that asset as follows: Fixtures and fittings Equipment 15.kn reducing balance 33 % straight line Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date. with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairm8nts ar8 also r8viewed for possible reversal at each reporting date. 34 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Accounting policies (conlinu•d) Impairment of fixed assets {contsnuedJ For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impaimient testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date. allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination. irrespective of whether other asset5 or liabilities of the charity are assigned to those units. Defined contrlbutlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related s8rvic8 is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead lo a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the r8POrting date in which the employees render the rèlated service, the Ilability is measured on a discounted present value basis. Th8 unwinding of the discount is recognised as an èxp8ns8 in the p8riod in which it arises. Llmlted by guarantee Each of the members of the company has guaranteed to contribute to the assets of th& company in the event of the same being wound up to the extent of £1. Donations and legacles Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Donations Donations and in-kind 2.600 2,600 4,868 4.868 35 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Charltable activities Unrestricted Funds Restricted Total Funds Funds 2023 Belfast City Council European Social Fundl Dept for the Economy Keltbray Group Spirit of 2012 Trust Ulster Garden Villages Limited The Executive Office- Central Good Relations Fund IFI- Personal Youth Development Programme Other Income Special EU Programmes Derry city & Strabane District Council NI CRC Department of Heatth - Mentsl Health Fund Department of Foreign Affairs: R8conciliation Fund Youth Action National Lottery Dormant Account Department for the Economy: Skills for Life and Work Belfast City Council - Bridges to Progression Belfast Charitable Sociéty 37.494 259,643 2,500 37.494 259.643 2.500 20,000 81,554 65,694 20,000 81.554 65.694 911 911 51.978 49,924 51.978 49.924 35,552 49,960 422,993 12,317 35,552 49,960 422.993 12,317 10,000 10,000 10,911 1,089.609 1,100,520 Unrestricted Funds Restricted Total Funds Funds 2022 Belfast City Council European Social Fundl Dept for the Economy Keltbray Group Spirit of 2012 Trust Ulster Garden Villages Limitad The Executive orrice- Central Good Relations Fund IFI- Personal Youth Development Pr()gramme Other Income Special EU Programmes Dery Cty & Strabane District Council NI CRC Department of Health - Mental Health Fund Department of Foreign Affairs: Reconciliation Fund Youth Action National Lottery Dormant Account Department for the Economy: Skills for Life and Work Belfast City Council - Bridges to Progression Belfast Charitable Society 38,816 280,948 5,000 65,883 38,816 280,948 5.000 65.883 70.058 79.034 4.997 754.854 22.800 51,535 49,924 10,122 34,941 24.980 230.471 70.058 79.034 4.997 754,854 22,800 51,535 49,924 10.122 34.941 24.980 230,471 1,724,363 1,724,363 36 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Financial Statements {¢ontlnu8d) Year ended 31 March 2023 Investment income Unrestricted Totsl Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank Interest Received Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2023 Total ￿nd 2022 Promotion and provision of opportunities GovemanGe costs 952.607 179,330 25,820 1.131.937 25,820 1,539,804 12.750 952.607 205.150 1.157.757 1,552,554 Promotion and provision of opportunltles Analysis of Support Costs Total 2023 Total 2022 Stsff costs Premises Communications and IT General office Governance costs 80,916 47,496 22,151 28,767 25,820 80,916 47,496 22,151 28,767 25,820 72,316 44,380 21,872 26,611 12.750 205.150 205,150 177,929 10. Net (expenditure)fincome Net {expenditure)fincome is stated after chargingl(crediting)'. 2023 2022 Depreciation of tangible fixed assets Foreign exchange differences 2.630 6.839 4.932 83,498 11. Auditors remuneration 2023 2022 Fees payable for the audit of the financial statements 6.396 5,902 37 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Flnancial Statements (continuod) Year ended 31 March 2023 12. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2023 2022 Wages and salaries Social security costs Employer contributions to pension plans 696,386 63,520 14,413 779,155 67,736 15,086 774,319 861,977 The average head count of employ88s during the year was 26 (2022: 33), The average number of full-time equivalent 8mployees during the year is analys8d as follows- 2023 2022 Staff 26 33 No employee received employee benefits of more than £60,000 during the year (2022: Nil). Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. Key management include the Executive Director and Deputy Director. The total compensation pald to key management personnel for services provided to the charity was £104,388 (2022.'£87,569). 13. Trustee remuneratlon and exponses The charity trustees were not paid or received any other benefits from employment with the Charity in the period (2022- £Nil). They were not reimbursed travel & subsistence expenses during tho period (2022: £Nil). No charity trustee received payment for professional or other services supplies to the charty {2022'. £Nil). 38 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Flnancial Statements (¢orttlnuedJ Year ended 31 March 2023 14. Tangible fixed assets Fixtures and fittings Equipment Total Cost At 1 April 2022 Additions 8,653 3,740 35,728 635 44,381 4,375 At 31 March 2023 12,393 36.363 48,756 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 8,500 1,001 9,501 33.928 1,629 35,557 42.428 2,630 45,058 Carrying amount At 31 March 2023 2,892 806 3,698 At 31 March 2022 153 1,800 1.953 15. Debtors 2023 2022 Trade dèbtors Prepayments and accrued income 310,868 15,815 326,683 513,117 81,510 594,627 16. Invostments 2023 2022 Other investments 17. Creditors: amounts falllng due within one year 2023 2022 Trade creditors Accruals and deferred income 12,539 94,718 15,024 189.745 107,257 204,769 39 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Flnancial Statements (eofttlnu8d) Year ended 31 March 2023 18. Deferred Income 2023 2022 At 1 April 2022 Amount released to income Amount deferred in year At 31 March 2023 2,500 (2,500) 25,414 2,500 25,414 2,500 19. Pensions and other post retirement benefits Defined contributlon plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £14,413 (2022.. £15,086). 20. Analysis of charitable funds Unrestricted funds At 1 April 2022 At Transfers 31 March 2023 Income Expenditure General funds 634,925 13,515 (57,888) 9,702 600,254 At 1 April 2021 At Transfers 31 March 2022 Income Expenditure General funds 369,351 4,868 (76,987) 337.693 634.925 40 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Flnancial Statements (continued) Year ended 31 March 2023 20. Analysis of charltable funds (Continued) Restricted funds At 1 April 2022 At Transfers 31 March 2023 Income Expenditure Fourteen {Spirt of 2012 Trust) Jobworks Fusion + Peace IV Euro Peace IV Springboard Dery & Strabane Council NI CRC Fusion+ North West Awards for All and Public Health Agency IFI - PYDP Directions Headstart Youth Start Wa112Wall DOH - M-space Department of Foreign Affairs.. Reconciliation Fund -Next Gen National Lottery Domant Fund Belfast City Council - Bridges to Progression 319.637 40,548 (318,491) {40.548) 6,396 (1.146) {6.396) 170) 70 51,978 41,006 (51.978) {40,735) (271) 44,144 88,444 11,026 65,694 422.993 35,552 (88,909) (403,967) (45.615) 20,929 107.470 (963) 49,924 49,924 (41,303) 58,545 10,122 (9,126) (996) 14.402 49,960 (53,276) 11.086 12.317 (12,317) 1.089.609 (1.099,869) 217,992 (9,702) 198,030 41 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Financial Statements (contlnu8d) Year ended 31 March 2023 20. Anatysis of charltable funds (contIft￿d) At 1 April 2021 At Transfers 31 March 2022 Income Expenditure Fourteen {Spiri of 2012 Trust) Jobworks Fusion + Peace IV Euro Peace IV Springboard Dery & Strabane Council NI CRC Fusion+ North West Awards for All and Public Health Agency IFI - PYDP Directions Headstsrt Youth Start Wa112Wall DOH - M-Spac8 D8partment of Foreign Affairs.. R8con¢iliation Fund -Next Gen National Lottery Dormant Fund Belfast City Council - Bridges to Progression 24.125 11.021 65,883 324.769 35,280 783.405 54.868 (64.132) (25,876) (276,915) (58.875) (33.931) (1,349) (217.690) (565,995) (643,982) 327,977 280 261.137 22.800 51.535 34,778 (12,148) (51,535) (33,935) (10,722) {70) (843) 10,326 (10,103) (34,889) {58,609) (23,915) (3,205) (223) 79,033 147,053 34,941 4.992 49,924 44.144 88,444 11.026 (1,787) 49,924 10.122 10,122 24,980 (10,578) 14,402 306,889 1,724.363 (1,475,567) 1337,693) 217,992 42 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Flnancial Statements (continuéd) Year ended 31 March 2023 21. Analysis of net assets betweèn funds Unrestricted Funds Restricted Totsl Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 3.698 703,813 (107,257) 600.254 3.698 901,843 (107,257) 798.284 198,030 198,030 Unrestrict8d Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year 1,953 837.741 (204,769) 634,925 1.953 1,055,733 (204,769) 852,917 217,992 Net assets 217,992 22. Taxation The Company is a registered charlty, and as such is entitled to tax exemptions on income and profits in furtherance of the charity's primary objectiV8S. 23. Analysls of changes in net debt At At 1 Apr 2022 Cash flows 31 Mar 2023 Cash at bank and in hand Current asset investments 461,105 114.054 575.159 461,106 114,054 575.160 24. Contingencies A contingent liability exists to repay grants received should certain conditions not be fulfilled by the charity. In the opinion of the Trustees. the terms of the Letters of Offer have been, or will be, Compli￿ with and no liability is expected. Springboard Opportunities Limited Company Limited by Guarantee Management Informatlon Year ended 31 March 2023 The following pages do not fomi part of the finan¢lal statements. Springboard Opportunities Limited Company Limited by Guarantee Detailed Ststement of Flnancial Actlvities Year ended 31 March 2023 2023 2022 Income and endowments Donatlons and legacies Donations and in-kind 2,600 4.868 Charltable actlvlties Belfast City Council European Social Fundl Dept for the Economy Keltbray Group Spirit of 2012 Trust Ulster Garden Villages Limited The Executive Office- Central Good Relations Fund IFI- Personal Youth Development Programme Other Income Special EU Programmes D8ry City & Strabane District Council NI CRC Department of Health - Mental Health Fund Department of Foreign Affairs: R8conciliation Fund Youth Action Nation81 Lottcry Dormant Account Department for the Economy: Skills for Lrfe and Work Belfast City Council - Bridges to Progression Belfast Charitable Society 37,494 259,643 2.500 38,816 280.948 5,000 65.883 20.000 81,554 65.694 911 70,058 79,034 4,997 754,854 22,800 51,535 49,924 10,122 34,941 24,980 230,471 51,978 49,924 35,552 49,960 422,993 12,317 10,000 1,100,520 1,724,363 Investment income Bank Interest Received Total income 1,103,124 1,729,231 45 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Detailed Statement of Financial Actlvities Year ended 31 March 2023 2023 2022 Expenditure on charitable activities Promotion and provision of opportunities Activities undertaken directly Wages & Salaries Employerfs NIC Pension costs Group activity Staff Training Travel Costs Allowances and subsistence Printing, Postage and Stationery Foreign exchange (gain)Iloss Childcare Training allowance Room Hire Evaluation Fees Partner Payments Grants ou￿ardS Bursaries Graduation Events Train8r Fees 624,286 56.384 12.773 24,309 5,693 32,470 11,194 4,425 6.839 30,280 94,674 9.032 714.591 61.507 13.563 36,888 2,370 38,363 2,660 6.601 83,498 11,076 74.584 13,015 19,398 217,597 58,117 385 2.826 17.586 2,297 504 37,487 952,607 1,374,625 Support costs Wages & salaries Employer's NIC Pension costs R8nt Light & heat Repairs & maintenance 72,100 7,136 1,680 31,464 8,464 1.378 64,564 6,229 1,523 30,751 6,647 1,285 L 11 Insurance Other establishment Telephone Other office costs Depreciation Advertising & Marketing Office equipment and computer expenses 7.568 2.243 9.530 12.640 2.630 12,621 9,876 6.982 4,752 8,583 6.536 4,932 13,289 9.106 179,330 165,179 46 Springboard Opportunities Limited Company Limited by Guarantee Notes to the Detailed Statemant of Financial Actlvities (continued) Year ended 31 March 2023 2023 2022 Governance costs Audit fees Legal and other professional fees Bank Charges 6.396 18,000 1,424 5.902 2.620 4.228 25.820 12.750 Expenditure on charitable activities 1.157.757 1,552,554 47