YOUTH WITH A MISSION (NI) LIMrrED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR EI¥DED 31ST MARCH 2023 COMPANY REG NO: N1029316 CHARITY REG NO: NIC101261 EAMONN P MCGRADY & Co Chartered Accountants & Registered Auditors 21a Market Street DOWNPATRICK Co Down BT30 6LP Tel: 028 44614340 Email: eamonnmcgrady@yahoo.com
YOUTH WITH A MtSSlON (ND LIMrrED REPORT AND FINANCIAL STATEMEiYrs YEAR EIYDED 31ST MARCH 2023 CONTENTS PAGE Company Infomyation Report of the Directors Accountants, Report Statement of Income and Retained Earnings Statsment of Financial Position Notes to the Financial Statements 9-13
YOUTH wrrH A MISSION (NI) LtMrrED REPORT AND FINANCIAL STATEMENTS 31ST CH 2023 COMPANY INFORMATION COMPANY REG NO: N1029316 CHARrrY REG IYO: NIC101261 DIREcfoRS: Mr SC Mayers Mr JR c[k Mr IU Clarke Mr DG Hin&8 Mr S C Sotomayor cohtPANY SECRETARY: Mr W Nicora REGISTERED OFFICE: 44 Shore Road Rostr¢vor Co Down BT34 3ET ACCOUNTANTS: Eamonn P McGrady & Co Chartered Accountants & Registered Auditors 21a Market Street BT30 6LP BAlRS. Danske Bank 37 Bridge Street BANBRIDGE BT32 3JL MORTGAGE COMPANY: Progressive Building Society 33137 Wellington Place BELFAST BTI 6HH
YOUTH WITH A MISSION (Nt) LIMITED REPORT OF THE DIREORs REPORT AND FINANCIAL STATEMENfs FOR THE YEAR ENDED 31sr MARCH 2023 The directors present their report and the Financial Statements for the year ended 3 1st March 2023. PRINCIPAL AcTIEs The principal activity of the company is to advance the Christian Faith. The directors aim to reach the youth througb residential discipleship training pmgrammes. co-operative programmes with local chuwh¢s and communities. the undertaking of various youth initiatives and the development of international missions opportunities. EVENTS SINCE THE END OF THE YEAR There have becn no cvcnts since the Balance Sheet date n¢c¢ssitating any revision of the Financial Statements. REVIEW OF RESULTS The Surplus of ]ncome over Expenditure for the year was £1.876. (2022 - Deficit £8,683). The Directors arc satisfied with the progress ma(k in the year. STATEMENT OF DIRECTORS RESPONSIBILITIE& Company law requires the directors to prepare Financial Statements for each financial period which gives a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss for the perio(L In preparing thoK financial statcmcnts, th¢ directors are required to: Select suitable accounting policies and then apply them consistently. Make judgements and estimates that are reasonable and prudcnt. State whether appropriate accounting standards have been followed. Prepate the flnancial statements on a going concern basis unless such an assumption is inappropriate. The directors are resN)nsible for keillg propcr accounting records which disclose with reasonable a¢cuTacy at any time th¢ financial position of the charitable company and to enable thcm to cnsurc that thc fllwicial statcments comply with thc Companics Act 2006. Thcy arc also responsible for safeguarding thc asscts of the charitabl¢ company and hence for taking reasonable steps for the prevention and detection of frdud and other irregularities.
YOUTH WITH A MESSION (M) IED REPORT OF THE COMMIThEE REPORT AYJ D FINANCLIL STATEMENT FOR THE YEAR ENDED 31ST MARCH 2023 (Continued) ACCOIJNTING STANDARDS The directors are of the view that appropriate accounting and financial reporting standards have been followed in thc prcparation of the Financial Statements. ACcourArS Farnonn P McGrady & Co have expressed theirwillinglless to continue in office as Accountants and a resolution for their re-appointment will be proposed at the forthcoming annual general meeting. By Order of the Directors. 44/051ZoZI MR WALTER NICORA SECRETARY DATE
YOUTH wrfH A MISSION (ND LIMrrED Aecountants, report on the unaudlted accounts to the dlreetors of Youth Wlth A Mission (NI) Limited. In order to assist you to fulfil your duties under the Companies Act 2006. 1 have Prepared for your approval the fanCial stat¢m¢nts of Youth With A Mission (NI) Limit¢d for th¢ y¢ar ¢nded 3 1st March 2023 which comprise the statement of income and retained earnings, statement of financial position and related notes from the company's accounting records and from inforn]ation and explanations you have given me. As a practising member of Chartered AccounLqnts Irelan l am subject to its ethical and other professional requirements which aTr detsiled at www.charteredaccountants.ie. This report is made solely to the directors of Youth With A Mission (Nl) Limite& as a body. in accordance with the tern]s of my engagement letter. My work l)as been undertaken solely to prepare for your approval the financial statements of Youth With A Mission (NI) Limited in accordance with the reqUiellts of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent pennitted by law, I do not accept or assume responsibility to anyone other than Youth With A Mission (Nl) Limited and its directors as a body for my work or for this reporL It is your duty to ensure that Youth With A Mission (NI) Limit has kept adequate accounting records and to Prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of Youth With A Mission (NI) Limited. You consider that Youth With A "sSIon (ND Limited is exempt from the statutory audit requirement for the year. I have not been instructed to earry out an audit or a review of the financial statements of Youth With A Mission (ND Limited. For this reasoffj I have not verified the accuracy or completeness of the accounting records or infonnation and explanations you have given to me and I do not, therefore, express any opinion on the statutory fmancial statements. Eamonn P Mc y&Co Chartered Accountants & Registered Auditors 21a Market Street DOWNPATRICK Co Down BT30 6LP Date
YOUTH wrrH A MISSION (ND LIMrrED STATEMENT OF INCOME AND RETAINED EARNINGS YEAR EM)ED 31ST MARCH 2023 2023 2022 COME 211436 1,145 213581 173203 210 575 211720 181932 OPERATING SURPLUS IDEFtClT) 5 1,861 1,861 (&729) 15 15 IIkfi¢itySuIuS Im (hd1 Activities for the year. I6 1.876 (8.683) SURPLU[DEFICITj forth¢ y¢8r 1,876 1,876 (8.683) 240 634 249
YoirrH WITH A MISSION (ND LIMrrED STATEMENT OF FINANCIAL POSITION- 31ST MARCH 2023 NOTE 2023 2022 FIXED ASSETS Tangible Assets 331272 338,686 CURRENT ASSETS Stocks Dcbtors & PrcpaJTllcnts Cash at Bank and in Hand 3,171 1,743 27,644 18,046 CREDITORS: Amounts falling due within one year. 10 NET CURRENf ASSETS TOTAL ASSETS LESS CURRENT LIABILITILS 349,112 348,026 CREDITORS: Amounts falling due after more than one year. 107 392 NET ASSETS CAPITAL & RESERVES RerVeS BTought ForwaThl 240,634 249,317 Surplus(tkficity for the Year
YOUTH WITH A MISSION (NI) LIMITED STATEMENT OF FINANCIAL POSITION (CONTINUED) AT 31ST MARCH 2023 In preparing these financial ststements". (a) The directors are of the opinion that the company is entitled to exemption from auih't under Section 477 of the Companies Act 2006. (b) No notice has been deposited under Section 476 by a member requiring an audiL ID relation to the fmancial statements for the fmancial year. (c) The directors acknowledge their responsibility for. (i) ensuring that the company keeps proper accounting records in accordance with Section 386 of the Act. and (li) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year and which otherwise comply with the requirements of the Act relating to the financial statements, so far as applicable to the company. These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2(M)6. Approved by the directors. I 11 S MR S.C. SOTOMAYOR DIRECTOR DATE
YoirrH wrrH A MISSION (ND LIMITED NOTES TO THE FINAF4CIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 I GENERAL INFORMATION The company is a private company limited by guarantee. registered in Northern Ireland. The fllwicial statements are prepared in Sterling, which is th¢ functional cuencY of the entity. 2 STATEMENT OF COMPLIANCE Thc financial ststements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recornrnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (September 2015) and the Companies Act 2006. 3 ACCOUNTING POLICIES The Financial Statements have been prepared in accordance with Statements of Standard Accounting Practice and Financial Reporting Standards i&w¢d by th¢ Institute of Chartered Accountants in IrelaniL (a) BASIS OF PREPARATION The Financial Statements bave been prepared in accordance with the historical cost convention. (b) COmE Tumover is me&sured at the fair value of the consideration ceIVed or receivable for goods supplied and services renderf net of discounts. Income consists of donations, grants and other amounts arising from the entitvs orditwy activities. (c) DEPRECIATION Depreciation is calculated to write off th¢ cost l¢ss residual value of ed assets over their anticipated weful lives". Leasehold Improvements Furniture & Equipment Motor Vchicles 25 % on a reducing balance basis 250/0 on a reducing balance basis No depreciation is provided in the year of disposal. A fidl year's depreciation is provided in the year of acquisition. When an asset is acquired and disposed of in the same year, no depreciation is charged. The residual value of the property is considered to be its historical cost.
YOUTH WITH A MISSION (ND LIMrrED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2023 (Continued) (d) TAXATION No provision is made for taxation as Youth With A Mi&8ion (ND Limited bas been granted charitable Stat by HM Revenue & Customs. (e) CAPITAL EXPENDITURE All expenditure, other than that which bas been capitalise(L is included in the statement of income and retained earnings account in the period to which it lates. (fj IMPAIRMENT A review for indicators of impairnient is carried out at each reporting date with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverdble amounL the asset is impaired accordingly. (g) GOVERYL MEIYT GRANrs Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasothle &8surance that the company will comply with the conditions attaching to them and the grants will be received. Government grants recogniscd using thc pcrforniance model. Underthis model. where the grant does not impose specified future perfornwice-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future perfornwice-related conditions on the recipient, it IS Tecognised in income only when the performance-related conditions have been met. Where grants are received prior to satisffi'ng the revenue recognition criteri they ar¢ recognised as a liability. See Note 13. (h) FINANCIAL INSTRUMEiYrs A fllwicial asset of a financial liability is recognised when the cotllpany becomes a paty to the contractual provisions of the instrument. Basic financial instnllnents are initially recognised at the transaction price. unless the arrangement constitutes a financing 'Ji transaction, wheTe it is recognised at the present value of th¢ future payments discounted at a nwket rat¢ of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cosL -10-
YoirrH wrrH A MISSION (NI) LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 COME 2023 Unrestricted Restricted 2022 Grants: Newry, Mourne & Down DC- Youth Summer Day Renewable Heat Incentive 1234 3,098 1,145 Fee Income Other Income 84,901 127 535 96,854 OPERATING SURPLUS Operating surplus is aTrived at after charging: 2023 2022 Depreciation OTHERINTERESTRECEIVABLE & SIMILAR INCOME 2023 2022 terest Received DIREcfoRS? EMOLUMENrs Thc dircctots, cmoluments W¢. 2023 2022 Aggregate emoluments The company did not have any paid employe&8 during the year. All duties were cattied out voluntarily. li-
YOUTH WITH A MISSION (M) LIMITED NOTES TO THE FllYANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 TANGIBLE FIXED ASSETS IMPROVEMENTS VEHICLES & EQUIPMEKr cosTr. At Start of Year 234,113 Additions Disposals At End of Year 234 113 128,656 13,468 65.347 3,100 441,584 3,100 128 656 DEPRECIATION At Start ofyear Provision for Year Disposals 37.308 6,433 10,966 625 54.624 3,456 92.057 10,514 113 412 31 March 2(r23 31 March 2022 338 686 DEBTORS &PREPAYMENrs 2023 2022 3.171 943 8(X) Prepayments 10 CREDITORS: Amounts falling due within one year 2023 2022 Other Credito Credit Card 7,377 1.027 5,802 1.504 12-
YOUTH wrrH A MtSSION (NI) LIMITED NOTES TO THE FINAIYCIAL STATEMENTS FOR THE YEAR EM)ED 31ST MARCH 2023 11 CREDITORS: Amounts falling due after more than olle year 2023 2022 Building Society Mortgage Unsecured Loans 106.602 107,392 12 COMPANY LIMITED BY GUAREE The company is limited by guarantee and therefore does not have a share capital. 13 CONfINGENT LIABILITIES In certain circumstances, it is possible that grants woutd become repayable. No such circumstances arose at the balance sheet date. 14 RELATED PARTY TRANSACTIONS There have been no such transactions in the year requiring disclosure in the financial statements. 13-