YOUTH WITH A MISSION (NORTHERN IRELAND) LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 COMPANY REG NO: N1029316 CHARITY REG NO: NIC101261 EAMONN P McGIL4DY & Co Chartered Accountants & Registered Auditors 4-6 Market Lane DOWNPATRICK Co Down BT30 6TH Tel: 028 44614340 Email: eamonnmcgrady@yahoo.com •￿￿U361￿0D* 1810112025 COMPANIES HOUSE A11 YOUTH WITH A MISSION (NORTHERN IRELAND) LIMITED REPORT AND FINANCIAL STATEMEIYTS YEAR ENDED 31ST MARCH 2024 CONTENTS PAGE Company Inforn]ation Report of the DirectorJ Accountants, Report Staternent of Income and RetainpAI Earnings Statement of Financial Position Notes to the Financial Statements 9-13 YOUTH WITH A MISSION (NORTHERN IRELAND) LIMITED REPORT AND FINANCIAL STATEMENTS 31ST MARCH 2024 COMPANY INFORMATION COMPANY REG NO: N1029316 CHARITY REG NO: NIC101261 DIREcfoRS WHO SERVED DURINC THE YEAR WERE AS FOLLOWS: MK Oman Mr SC Mayers Mr JR Clark Mr Rt Clarke Mr DG Hines Miss LE Iammardo Mr S C Sotomayor COMPANY SECRETARY: Mr W Nicora REGISTERED OFFICE: An Cuan 44 Shore Road Rostrevor Co Down BT34 3ET ACCOUNTANIS: Eamonn P McGrady & Co Chartered Accountants & Registered Auditors 4-6 Market Lane DOWNPATIUCK BT30 6TH BANKERS: Danske Bank 37 Bridge Street BANBBJDGE BT32 3JL MORTGAGE COMPANY: Progressive Building Society 33137 Wellington Place BELFAST BTI 6HH YOUTH WITH A MISSION (NORTHERN IRELAND) LIMITED REPORT OF THE DIRECTORS REPORT AND F￿ANCIAL STATEMENTS FOR THE YEAR ENDED 31sf MARCH 2024 The directOTS present theii report and the Financial Ststements for the year ended 3 1st March 2024. PIUNCIPAL ACTIVITIES The principal activity of the company is to advance the Christian Faith. The directors aim to reach the youth through residential th'sciplesbip training programmes, co-operative programmes with loca] churches and communities, the undertaking of various youth initiatives and the development of international missions opportunities. EVENTS SINCE THE END OF THE YEAR There have been no events since the Balance Sbeet date necessitating any revision of the Financial Ststements. REVIEW OF RESULTS The Surplus of Income over Expenditure for the year was £16,465. (2023 - SuTplus £1,876). The Directors are Satisfied with the progress made in the year, STATEMENT OF DIRECTORS RESPONSIBILITIES. 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 period. In preparing those fmancial statements. the directo are required to: Select suitable accounting policies and then apply them consistently. Make judgements and estimates that ate ieasonable and prudent. State whether appropriate accounting sLqndards have been followed. Prepare the financial statements on a going concern basis unless 5ucb an assumption is inappropriate. The directors are responsible foi keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. YOUTH WITH A MISSION (NORTHERN IRELAND) LIMtTED REPORT OF THE COMMITTEE REPORT AND FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST MARCH 2024 (Continued) ACCOUNTING STANDARDS The directors are of the view that appropriate accounting and financial reporting standards have been followed in the preparation of the Financial Statements. ACCOUNTANTS Eamonn P McGrady & Co have expressed their willingness 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. 13th January 2025 MR WALTER NICORA SECRETARY DATE YOUTH WITH A MISSION (NORTHERN IRELAND) LIMITED Accountants, report on the unaudited accounts to the directors of Youth With A Mission (Northern Ireland) Limited. In order to assist you to fulfil your duties under the Companies Act 2006. 1 have prepared for your approval the financial statements of Youth With A Mission (Northern Ireland) Limited for the year ended 31" March 2024 which comprise the statement of income and retained earnings, statement of financial position and related notes from the company's accounting recoTds and from inforniation and explanations you have given me. As a practising member of Chartered Accountants Ireland, I arn subject to its ethical and other professional requirements which are detsiled at www.charteredaccountants.ie. This report is made solely to the directors of Youth With A MissiorA (Northern Ireland) Limited, as a body, in accordaDce with the ternis of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of Youth With A Mission (Northern Ireland) Limited in accordance with the requirements of Chartered Accountants Ireland as detsiled at www.charteredaccountants.ie. To the fvllest extent pern]itted by law, I do not accept or assume responsibility to anyone other than Youth With A Mission (Northern treland) Limited and its directors as a body for my work or for this report, It is your duty to ensure that Youth With A Mission (Northern treland) Limited 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 (Northern Ireland) Limited. You consider that Youth With A Mission (Northern Ireland) Limited is exempt from the statutory audit requirement for the year. I have not been instructed to carry out an audit or a review of the financial ststements of Youth With A Mission (Northern Ireland) Limited, For this reoson, I have not verified the accuracy or completeness of the accounting records or inforniation and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements. Eamonn P Mc ady&Co Chartered Accountants & Registered AuditOTS 4-6 Market Lane DOWNPATRICK Co Dow BT30 6TH Date YOUTH WITH A MISSION (NORTHERN IRELAND) LIMITED STATEMENT OF INCOME AND RETAINED EARNINGS YEAR ENDED 31ST MARCH 2024 NOTES 2024 2023 Unrestricted Restricled Funds Funds Total Total Funds Funds tNCOME 258.617 2,087 260,704 213,581 Expenditure OPERATING SURPLUS l6.440 16.440 1.861 Intere51 R¢cciv¢d & Sirnilar Income Swplus on Ordinary Activities for the year. 16,471 16,471 1,876 on surplus SURPLUS for tbc ycbr 16.465 16,465 1.876 Retsined Earnings Brought Fonvard Ret&ined EarniDg5 C8rri¢d Forward YOUTH WITH A MISSION (NORTHERN IRELAND) LIMITED STATEMENT OF FllNANCIAL POSITION - 31ST MARCH 2024 NOTE 2024 2023 FIXED ASSETS Tangible Assets 326,660 331,272 CURRENT ASSETS Stocks Debtors & Prepayments Cash at Bank and in Hand 12,500 3,171 50,510 27,644 CREDITORS: Amounts falling due within one year. 10 118 195 NET CURRE1￿ ASSETS TOTAL ASSETS LESS CURRENT LtABILITKES 258,975 349.112 CREDITORS: Amounts falling due after more than one year. 11 106 602 NET ASSETS CAPITAL & RESERVES Reserves BTought Forward 242,510 240,634 sU￿lUs for the Year YOUTH WITH A MISSION (NORTHERN IRELAND) LIMITED STATEMENT OF FINANCIAL POSITION (CONTINUED) AT 31ST MARCH 2024 In preparing these financial statements: (a) The directors are of the opinion that the company is entitled to exemption from audit under Section 477 of the Companies Act 2006. (b) No notice has been deposited under Section 476 by a member requiring an audit, in relation to the financial statements for the financial 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 ststements which ￿ve 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 foi the financial year and which otherwise comply with the requirements of the Act relating to the financial statements, so far ￿ applicable to the company. These financi￿ statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. Approved by the directors. 13/ol/bL MR S,C SOTOMAYOR DtRECTOR DATE YOUTH WITH A MISSION (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 GENERAL INFORMATION The company is a private company limited by guarantee, registered in Northern Ireland. The financial statements are prepared in Sterling. which is the fimctional cuffency of the entity. STATEMENT OF COMPLIANCE The financial statements have been prepared in accordance witb Accounting and Reporting by Charities.. Statement of Recommended 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. ACCOUNTll¥G POLICIES The Financial Statements have been prepared in accordance with Statements of Standard Accounting Practice and Financial Reporting Standards issued by the In5tittite of Chartered Accountants in Ireland. (a) BASIS OF PREPARATION The Financial Statements have been prepared in accordance with the historical cost convention. (b) ThcO￿E Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts. Income consists of donations, grants and other amounts arising from the entity's ordinary activities. (c) DEPRECtATION Depreciation is calculated to Write off the cost less residual value of fixed assets over their anticipated useful lives: Leasehold Improvements Furniture & Equipment Motor Vehicles 5/0 25 % on a reducing balance basis 250/. on a reducing balance basis No depreciation is provided in the year of disposal. A full year's deprexiation is provided in the year of acquisition. When an asset is acquired and disposed of in the same year, no depreciation is charged. The Tesidual value of the PTopety is considered to be its historical cost. YOUTH wrrH A MISSION (NORTHERN IRELAND) LIMITED IYOTES TO THE FINANCIAL STATEMENTS TAR ENDED 31ST MARCH 2024 (Continued) (d) TAXATION No provision is made for taxation as Youth With A Mission (Northern JTeland) Limited has been granted charitable status by HM Revenue & Custorns. (e) CAPITAL EXPENDITURE All expenditure, other than that which has been capitslised, is included in the statement of income and retained earnings account in the period to which it relates. (fj IMPAIRMENT A review for indicators of impainnent 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. (g) COVERNMENT GRANTS Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the performance Tnodel. Under this model, where the grant does not impose specified future perfomiance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified futl￿e perforn]ance-relatcd conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants are received prior to satisfying the revenue recognition criteri4 they are recognised as a liability. See Note 13. (h) FINANCIAL INSTRUMENTS A financial asset of a financial bability is recognised when the company becomes a party to the contractual provisions of the instrument. Basic f￿all¢la1 instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future pa￿entS discounted at a market rate of inteiest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. 10- YOUTH WITH A MISSION (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 COME 2024 Unrestricted Restricted 2023 Grants: Education Authority Renewable Heat tncentive 2,087 1,145 Fee Income Other Income 140,479 118 138 84,901 127 535 OPERATING SURPLUS Operating surplus is aTrived at after charging.. 2024 2023 Depreciation OTHER INTEREST RECEIVABLE & S￿VllLAR INCOME 2024 2023 Interest Received DIRECTORS, EMOLUMENTS The diTe¢tors' emoluments were: 2024 2023 Aggregate emoluments The company did not have any paid employees dwing the year. All duties were ca￿Led out voluntarÉly. 11 YOUTH ￿TH A MISSION (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 TANGIBLE FIXED ASSETS PROPERTY LEASEHOLD MOTOR FURN￿uRE TOTAL IMPROVEMENTS VE￿CLEs & EQUIPMENT COST: At Start of Year 234,113 Additions Disposals At End of Yeat 234 128,656 13,468 68,447 6,509 444,684 6,509 74 451193 DEPRECIATION At Start of Year Provision for Year Disposals 43,741 6,433 11,591 469 58,080 4,219 113,412 11,121 124 BALANCE SHEET VALUE 31 March 2024 31 March 2023 DEBTORS & PREPAYMENTS 2024 2023 Debtors Prepayments 12,500 3,171 10 CREDITORS: Amounts falling due within one year 2024 2023 Other Creditors Credit Card Accruals I l4,634 261 7.377 1,027 12- YOUTH WITH A MISSION (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST IIIARCH 2024 11 CREDITORS: Amounts falling due after more than one year 2024 2023 Building Society Mortgage Unsecured Loans 106,602 12 COMPANY LIMITED BY GUARANTEE The company is limited by guarantee and therefore does not have a share capital. 13 CONTINGENT LIABILITJIS In certain ciIcumstances. it is possible that grants would become repayable. No such circumstances arose at the balance sheet date. 14 RELATED PARTY TRANSACTIONS Youth With A Mission (Northern Ireland) Limited received £113,000 from Solas Trnst to clear the Progressive Building Society mortgage during the year. This was received in respect of the proposed acquisition of the Youth With A Mission (Northern Ireland) Lirnited premises by Solas Trust. The transfer of ownership has not been completed. 13-