Company Reglstratlon Number. 067640 (Northern Ireland)
Charlty Number. XR 31215
New Horizons Partnershi
Acom
an
limited b
uarantee
Limited
Trustees, Re
ort and Financial Statements
for the
ear ended 31 December 2023
CHARTERED
ACCOUNTANTS

New Horizons Partnershi
Limited
Re
ort and Flnancial Statements
Contents
Page
Company information
Trustees, report
Independent auditor's report
Statement of financial activities
io
Balance sheet
li
Statement of cash flow
12
Notes to the financial statements
13-22

New Horizons Partnershi
Information
Limited
Com
an
Trustees
Shirley Hamilton
Eamon McColg3n
Bill Mclntyre
Eoin McDonald
Patricia Mccormack
K3thleen O'Donnell {resigned 0710612023)
Linda Mclntyre
Paul Fagan Icommenced 01103120231
Sandra Friel {commenced 07/0612023)
Audltors
SCC Chartered Accountants
17 College Street
Armagh
BT619BT
Bankers
Allied Irish Bank
Main Street
8allybofev
Co.Donegal
Sollcltors
Worthingtons Solicitors
24-38 Gordon Street
Belfast
BT82 8DY
Reglstered office
45c Derry Road
Strabane
Co. Tyrone
BT82 8DY
Northern Ireland
Company reglstratlon number
Nl 067640
Charity number
N IC101401 (Northern Ireland)
XR 31215 (Charitable Status United Kingdom)

New Horizons Partnershi
Trustees, Re
ort
Limited
The trustees present their report and financial statements for the year ended 31 December 2023.
The financial statements comply with the Charities Regulations (Northern Ireland) 2015, the
Companies Act 2006, the Memorandum and Articles of Association, and 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
1021 (effective l January 20151.
The trustees, who are also directors for the purposes of company law and who served during the year
end and up to the date of this report are as follows:
Shirley Hamilton
Eamon Mccolgan
Bill Mcl ntyre
Eoin McDonald
Patricia Mccormack
Kathleen O'Donnell (resigned 07/06120231
Linda Mclntyre
Paul Fagan (commenced 01103120231
Sandra Friel (commenced 07/0612023)
Principal actlvltles
The charity's princlpal activlty durlng the year was to provide trainlng, vocational and Incluslve
community opportunities for young adults with learning disabilities acr055 the North West border
region,. developing best practice and shari n8 it within and outside the region.
Structure, governance and management
New Horizons Partnership Limited {" New Horizons l is a company limited by guarantee with charitable
status, incorporated on the 2nd January 2008, and registered as a charity in Northern Ireland in 2015,
The company was established under Memorandum of Association that established the objects and
powers of the charitable company and is governed under its Articles of Association. In the event of the
winding up of the company each member is required to contribute no more than £5.
The trustees of the charity when elected serve until the next annual general meeting at which they
must be re-elected.
The management operate a system of internal control designed to provide reasonable assurance, but
not absolute assurance against material misstatement or loss. They include the;
regular consideration by the trustees of progress reports regarding operational activities. These are
carried out detailing performance indicator levels such as participant numbers and financial
breakdowns. Any deviations from targets are highlighted and contingency actions are implemented;
delegation of authority and segregation of duties among staff; and
identification and management of risks to which the charity is exposed.
Objectlves and Activities
The objectives of the charity are to provide services in order to support learning disabled trainees to
fulfil their vocational potential and to achieve a greater level of independence. Since 1995 New
Horizons has developed a range of services to help young adults with learning disabilities to realise
their full potential.

New Horizons Partnershi
Trustee5' Re
ort
Limited
The trustees confirm that they have referred to the guidance contained in the Charity Commission's
general guidance on the public benefit when reviewing the Trust's aims and objectives and in planning
for future activities and setting the policy for the year.
The Charity focuses on four main areas of operational activitv;
Training - to equip trainees with specific vocationa l and life skills,.
Community Opportunities
trainees follow a realistic and achievable vocational path through
placements with local placement providers, centered around the trainee, for the trainee and by the
trainee,.
Social Enterprises
currently I horticultural enterprise in Strabane. Strabane Garden Centre
continues to provide vocational opportunities for our trainees. This social enterprise is an excellent
example of how New Horizons achieves equality and inclusion of our service users during their
placement. Our service users have the opportunity to apply the skills and competencies they have
developed on our training programmes in a supported practical work environment, as well as
providing opportunities for the public to observe the real meaningful work that the trainees do. and
Development of Learning resources
for organisations that provide training and services to
individuals with a learning disability. These are a series of learning resources and programmes
designed to teach individuals with learning disabilities essential skills in the areas of work a nd travel,
Newhop Skills for Work consI5ts of eight units of general work ski115 content and four units of
vocationally-orientated content. Newhop Skills for Travel is a complete travel training programme for
organisations working with people with learning disabilities, who wish to teach their end u5er5 safe,
independent travel.
Achlevements and Performance
During the reporting year, a full return to in-person service for our trainees and staff was completed;
with the facilitation of service provision in training, supported Community opportunities and in our
Strabane Garden Centre, 45c, Derry Road.
As well as the creation and delivery of new and varied timetables of learning which still included the
delivery of key reading, writing and lifeskills, acting as a base for accredited training; trainees who had
not previously experienced supported Community opportunities now opted to explore possibilities
with our staff Team. The focus remained on supporting good physical and mental health throughout,
working closely with other organisations and providers in the local Community, as well as
seeking/providing new and exciting opportunities for Community inclusion. We continued to utilise, to
the f ullest, our enhanced technological skills and equipment purchased to enhance the experience.
The relocation of the training & Community Opportunities, service to Orchard Road Industrial Estate
has benefited the additional scope 3vai13ble for the social enterprise, Strabane Garden Centre to
remodel/revamp and develop. During this year the Teams on both sites were in a position to utilise
the extra space to enhance further the unique service offering, with an initial focus on attracting new
trainees.
The priority in 2023 remained ensuring that our trainees, their families, our funder and all
stakeholders, expectations are met/surpassed by our committed staff Team.

New Horizons Partnershi
Limited
Trustees, Re
ort
continued
Financlal Review
During the year ended 31 December 2023 the charity received total income of £374,261 12022..
£383,476) and had an overall deficit of £20,74312022:£1,6661. Income from service level agreements
with Western Health & Social Care Trust increased by £18.882. Overall expenditure increased by
£9,862. Although there was a small deficit, the charity remains in a strong financial position with
reserves of £441,906 at 31 December 2023.
Plans for the future
Our strategy of spreading our reach to all those we support, at a pace that is sustainable, remains a
key focus of our work. A new marketing, awareness and communications plan has continued to reflect
the growing org3nisation, new media trends and furnish a positive profile of trainees.
Our aim Is to continue with the mantra of continuous quality monitoring and resultant Improvement
in service del ivery as required. Quality is measured via robust i nternal processes. The 5-year Strategic
Plan continues to clearly set out the mission, objectives and plans to build on our successes as well as
channelling an even more holistic approach to the delivery of our services.
As New Horizons Ltd looks to the future, the key word underpinning its activities is "sustainability."
The organlsation has a strong base of core activities upon which to call, but, faced with an ever - more
competitive environment; It Is vital that the organisation consolidates its services and capitallses on Its
strengths. In so doing, New Hori20ns Ltd will ensure that it continues to provide an exemplary level of
trainin8 and Community opportunities to service users referred to our services. As New Horizons
Partnership Ltd continues to grow in terms of the activities and opportunities it offers, as well as in the
impact it has on trainees, their families and Community,, the organisation will simply continue to
further seek out new opportunities.
New Horizons Ltd seeks to provide even more diverse experiences, to support ongoing new/creative
ways to learn
all of which supports our trainees to maximise individual personal potential. This, in
turn, promotes the achievement of the greatest possible level of independence for each person which
enhances quality of life for everyone involved. Each individual is entitled to make his/her own choices
{sUPPOrted by our staff Team) about the pathways he/she wants to take for the future
in learning
and Com munity opportunities as well as the pace and timing of that journey. Each individual therefore
has his/her own Person Centred Plan and the staff Team monitor the achievement of goals and the
reimagining of roadmaps as required.
In conclusion, New Horizons Partnership Ltd is confident of the future. As an organisation it will
continue to capit35ise on its wealth of experience and strengths. The organisation will further build
upon its reputation and relationships with families, the local community and the funder. Guided by
WHSCT recommendations, which calls for a blurring of the boundaries between 'special' and
'mainstream' services so that people can access the support most suited to helping them put their
personal plans into action,. the challenge remains for New Horizons Ltd. to encourage trainees to have
high expectations for themselves and of their community. This, in turn, will see greater and more
positive outcomes from the or8anisation as a person centred, service provider.

New Horizons Partnershi
Limited
Trustees, Re
ort
continued
We are confident about the future and prouder than ever of our staff Team, trainees and the local
communities that support us. We are witnessing increasing demand for our services; and this strategy
will continue to help direct us, ensuring that we remain the provider of choice in Co. Tyrone in the
years to come.
Reserves Policy
Whi le f unding for the charity's core activities is secured until 2024. New Horizons Partnership Limited
needs to stablish a reserves policy to have sufficient cash reserves should the company experience
cash flow problems or costs involved in any potential wind up of the company and/or provision for
redundancy costs.
It is recommended that reserves equivalent to three to six months, running costs for core activities
together with anticipated improvements to fixed assets be retained. The target set and realised for
this in the current year is £150,000. The level of reserves are reviewed by the trustees and
management regularly throughout the year. The minimum level of reserves for the ongoing needs of
the charity is reviewed by the trustees on an annual basis.
Statements of trustees, responsibilities
The trustees are responsible for preparing the annual report and the financial statements in
accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare f inancial statements for each financial year. Under the
law the trustees have elected to prepare the f inancial statements in accordance with applicable law
and United Kingdom Generally Accepted Accounting Practice. Under company law the trustees must
not approve the financial statements unless they are satisfied that they give a true and fair view of
affairs of the charity and of the surplus or deficit of the charity for that period. In preparing these
financial statements, the trustees are required to..
select suitable accou nting policies and then apply them consistently;
observe the methods and principles in the Charities SORP,.
make judgements and estimates that are reasonable and prudent,.
state whether applicable UK accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements,, and
prepa re the financial statements on the going concern basis unless it is inappropriate to presume that
the company will continue in business.
The trustees are responsible for keeping proper accounting records that are sufficient to show and
explain the company's transactions and disclose with reasonable accuracy at any time the financial
position of the cha rity and which enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.

New Horizons Partnershi
Limited
Trustees, Re
ort
continued
Statement as to disclosure of information to auditors
Each person who was a trustee at the time this report was approved confirms that:
so far as helshe is aware, there is no relevant audit information of which the company's
auditor is unaware; and
he/she has taken all the steps that he ought to have taken as a trustee in order to make
himselflherself aware of any relevant audit information and to establish that the
company's auditor is aware of that information.
Statutory Audltors
SCC Chartered Accountants were appointed auditors to the charity and 3 resolution proposing their
reappointment will be put to the Annual General Meeting.
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006
applicable to companies subject to the small companies regime.
Audlt Exemptlon
The trustees are of the opinion the company is entitled to exemption from audlt in accordance with
section 475121 and section 475131 of the Companies Act 2006.
However we have chosen to have an audit undertaken as it may be requested in future funding
applications.
This r
rt was approv
by the board on l March 2024, and signed on is behalf
Eamon Mccolgan
Trustee
Patrlcla Mccormack
Trustee

New Horizons Partnership Limited
Independent Auditors, Report
To the Members of New Horizons Partnership Limited
Opinion
We have audited the financial statements of New Horizons Partnership Limited (the 'charity'l for the
year ended 31 December 2023 which comprise the statement of financial activities, the statement of
cash flows, the balance sheet and the related notes. 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 Iunited Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charity's affairs as at 31 December 2022 a nd
of its incoming resources and application of resources, including its income and
expenditure, for the period then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; a nd
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with Internatlonal Standards on Auditing IUKI IISAS IUKI) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of
the company in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion,
Concluslons relating to 80in8 concern
We have nothing to report in respect of the following matters in relation to which the ISA5 {U Kl require
us to report to you where..
the trustees use of the going concern basis of accounting in the preparation of the
financial statements is not appropriate,. or
the trustees has not disclosed in the financial statements any identified material
uncertainties that may cast significant doubt about the company's ability to continue to
adopt the going concern basis of accounting for a period of at least twelve months from
the date when the financial statements are authorised for issue,
Other Informatlon
The trustees are responsible for the other information. The other information comprises the
information included in the annual report, other than the f inancial statements and our auditor's report
thereon. Our opinion on the financial statements does not cover the other information and, except to
the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion
thereon.

New Horizons Partnership Limited
Independent Audltors, Report (continued)
To the Members of New Horizon5 Partnershlp Limited
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 otherwise appear5 to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement 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 misstatement of thi5 Other information, we are required to report
that fact.
We have nothing to report in this regard,
Oplnlons on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the director's report for the financial year for which the f inancial
statements are prepared is consistent with the financial statements; and
the director's report has been prepared in accordance with applicable leg31 requirements,
Matters on whlch we are required to report by exceptlon
In the light of the knowledge and understanding of the company and its environment obtained In the
course of the audit, we have not identif led material misstatements in the trustees, report.
We have nothlng to report in respect of the following matters where 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 statements are not in agreement with the accounting records and returns;
or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responslbllities of trustees
As explained more fully in the trustees responsibilities statement, the trustees is responsible for the
preparation of the f inancial statements 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 concern and using the going concern
basis of accounting unless the trustees either intends to liquidate the charity or to cease operations,
or has no realistic alternative but to do so.

New Horizons Partnership Limited
Independent Auditors, Report (continued)
To the Members of New Horizon5 Partnership Limited
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasona ble assurance about whether the f inanci315tatements 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 assurancè, but 15 not a guarantee that
an audit conducted in accordance with ISAS IUKI will always detect a material misstatement 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.
A further description of our responsibilities for the audit of the financial statements Is located on the
Financial Reporting Council's website at.. http.'//www.frc.or8.uk/auditorsresponsibilities, This
description forms part of our auditor's report
The purpose of our audlt work and to whom we owe our re5ponsSbilltles
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 state to the charity's
members those matters we are required to state to him 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 report, or for
the opinions we have formed.
Sean G. Cavanagh {Statutory Audltorl
for and on behalf of SCC Chartered Accountant5 Llmlted
Statutory Auditor
17 College Street
Armagh
Co. Armagh
Northern Ireland
BT619BT
l March 2024

New Horizons Partnershi
Limited
Statement of financial activities
includin
the income and ex
enditure account
For the
ear ended 31 December 2023
Unrestricted
funds
Restricted
funds
2023
2022
Note
Incoming resource5 from generating funds:
Voluntary income
Investment income
197
1,040
1,237
19,393
Incoming resources from charitable activities
65,687
304,041
369,728
361,348
Other incoming resources
3,296
3,296
2,736
Total Incoming resources
69,180
305,081
374,261
383,476
Resources expended
Charitable Activities
117,181
273,982
391,164
381,062
Governance costs
3,840
3,840
4,080
Total resources expended
121,021
273,J82
395,004
385,142
Net incomlng/{outgoing) resources before transfers
{51,8411
31,099
{20,7431
11,6661
Transfers between funds
Net incoming/loutgoing) resources for the year
151,8411
31,099
{20,7431
(1,6661
Total funds brought forward
464,250
(1,601)
462,649
464,315
Total funds carrled fonvard
412,409
29,498
441,906
462,649
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on page5 13 to 22 form an integral part of these financial statements.
io

New Horizons Partnershi
Balance Sheet
a5 at 31 December 2023
Limited
2023
2022
Note
Flxed assets
Tangible assets
13
24,670
30,531
Current Assets
Stocks
Debtors
Cash at bank and in hand
2,822
97,045
336,250
436,116
3,117
144,301
300,773
448,191
14
Credltors: amount falllng due
within one year
15
118,8801
116,0721
Net current assets
417,236
432,118
Net assets
441,906
462,649
Funds
Restricted f unds
General funds
Designated funds
17
18
18
22,414
269,492
150,000
22,414
290,235
150,000
Shareholders, funds
441,906
462,649
The financlal statements were approved by the board of trustees and authorised for issue on l March
2024, and are signed on behalf ofthe board bv..
Eamon Mccolgan
Trustee
Patricia Mccormack
Trustee
The notes on pages 13 to 22 form an integral part of these financial statements.
li

New Horizons Partnershi
Statement of Cash Flows
for the
ear ended 31 December 2023
Limited
Notes
2023
2022
Cash used in operatlng activities
20
35,477
119,893)
Cash flows from Investlng actlvltle5
interest income
Purchase of tangible assets
Disposal of tangible assets
14,2151
10,000
Cash provlded by (used In) Investlng actlvltles)
5,785
Cash flows from flnanclng actlvltles
Repayment of borrowing
Cash used Sn financing activitles
Increase {decreasel in cash and cash equlvalents in the
year
35,477
(14,1081
Cash and cash equivalents at the beginning of the year
300,773
314,881
Total cash and cash equivalents at the end of the year
336,250
300,773
12

New Horizons Partnershi
Limited
Notes to the Financial Statement5
for the
ear ended 31 December 2023
Accountin
olicies
Company Information
The charity is a private company limited by guarantee, registered in Northern Ireland and a
registered charity in Northern Ireland. The address of the registered office is 45c Derry Road,
Strabane, Co Tyrone, BT82 8DY, Northern Ireland.
1.1 Accountlng conventlon
These financial statements have been prepared in accordance with FRS 102 'Yhe Financial
Reporting Standard applicable in the UK and Republic of Ireland" the Statement of Recommended
Practice applic3 ble to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the
Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the charity.
Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to
include the revaluation of freehold properties and to include investment propertles and certain
financial instruments at fai r value. The principal accountlng policle5 adopted are Set out below.
1.2 Golng concern
At the ti me of approving the f inancial statements, the trustees have a reasonable expectation that
the charity has adequate resources to continue in operational existence for the foreseeable future.
Thu5 the trustees continue to adopt the going concern basis of accounting in preparing the f inancial
Statements.
1.3 Incomlng resources
All incoming resources are included in the statement of financial activities when the charity is
entitled to the income and the amount can be quantified with reasonable accuracy. The followin8
specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the
statement of financial activities when the charity is legally entitled to the income and the amount
can be quantified with reasonable accuracy,.
Grants for the purpose of capital expenditure are credited to deferred income when receivable
a nd amortised in line with depreciation,.
Investment income is included when receivable; a nd
Incoming resources from charita ble trading activities are accounted for when earned.
13

New Horizons Partnershi
Limited
Notes to the Financial Statements
continued
for the
ear ended 31 December 2023
1.4 Expenditure
Expenditure is recognised once there is a le8al or constructive obligation to make a payment to a
third party, it is probable that settlement will be required and the amount of the obligation can be
measured reliably. Expenditure is classified under the following activity headings..
Costs of charitable activities includes the costs of training programmes delivered, commercial
trading and other educational activities undertaken to further the purposes of the charity and their
associated support costs; and
Governance costs represents those items required to audit and report on the charity activities.
1.5 Fund accounting
The Charity has two types of funds for which it is responsible.,
l. Unrestricted funds the unrestricted fund is under the control of the Board of Trustees, to be
used in the furtherance of the objectives of the charity.
2. Restricted funds - the restricted fund represents donations and grants received where the donor
has imposed restrictions on the use of the funds which are legally binding on the Board of Trustees.
Designated funds are unrestricted or restricted funds of the charity which the trustees have
decided at their discretion to set aside to use for a specific purpose.
1.6 Tanglble fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation,
net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values
over their useful lives on the following basis:
Land and buildings
Plant and machinery
Fixtures and f ittings
2% Stra ight Line
20% Reducing Balance
20% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale
proceeds and the carrying value of the asset, and is credited or charged to prof it or loss.
1.7 Impalrment of flxed assets
At each reporting period end date, the charity reviews the carrying amounts of its tangible assets to
determine whether there is any indication that those a55ets have suffered an impairment loss. If
any such indication exists, the recoverable amount of the asset is estimated in order to determine
the extent of the impairment loss lif any). Where it is not possible to estimate the recoverable
amount of an individual asset, the charity estimates the recoverable amount of the cash-generating
unit to which the asset belongs.
14

New Horizons Partnershi
Limited
Notes to the Financial Statements
continued
forthe
ear ended 31 December 2023
If the recoverable amount of an asset lor cash-generating unit) is estimated to be less than its
carrying amount, the carrying amount of the asset lor cash-generating unit) is reduced to its
recoverable amount. An impairment Ioss is recognised immediately in surplus or deficit, unless the
relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a
revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have
ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the
asset lor cash generating unit) is increased to the revised estimate of its recoverable amount, but
so that the increased carrying amount does not exceed the carrying amount that would have been
determined had no i mpairment loss been recognised for the asset lor cash~generati ng unit) in prior
years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the
relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is
treated as a revaluation increase.
1.7 stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Cost comprises direct materials and, where applicable, direct labour costs and those overheads that
have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of
replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount
of stocks over its estimated selling price less costs to Complete and sell is recognised as an
impalrment 1055 in profit or loss. Reversals of impairment losses are also recognised in profit or
loss,
1.8 Cash and cash equlvalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call
with banks, other short-term liquid investments with original maturities of three months or less,
and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Flnanclal Instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and
Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are reco8nised in the charity's balance sheet when the charity becomes party
to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial
statements, when there is a legally enforceable right to set off the recognised amounts and there is
an intention to settle on a net basis or to realise the asset a nd settle the liability simultaneously.
15

New Horizons Partnershi
Limited
Notes to the Financial Statements
continued
for the
ear ended 31 December 2023
Basi¢flnonciol ossets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction cost5 and are subsequently carried at amortised cost using
the effective interest method unless the arrangement constitutes a financing transaction. where
the transaction is measured at the present value of the future receipts discounted at a market rate
of interest. Financial assets classified as receivable within one year are not amortised.
Classlflcotlon offlnanclol Ilabllltles
Financial liabilities and equity instruments are classified according to the 5ubst3nce of the
contractual arrangements entered into. An equity instrument is any contract that evidences a
residual interest in the assets of the charity after deducting all of its liabilities.
Baslcllnanclal Ilabllltles
Basic f inancial liabilities, including creditors, bank loans and preference shares that are classified as
debt, are initially recognised at transaction price unless the arrangement constitutes a financing
transaction, where the debt instrument is measured at the present value of the future payments
discounted at a market rate of interest. Financial liabilities classif led as payable within one year are
not amortlsed,
Debt instruments are subsequently carried at amortised cost, using the effective interest rate
method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinarv
course of busines5 from su ppliers. Amounts payable are classified as current liabilities if payment Is
due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are
recognised initially at transaction price and subsequently measured at amortised cost using the
effective interest method.
1.10 Employee beneflts
The costs of short-term employee benefits are recognised as a liability and an expense, unless
those costs are requlred to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's
services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably
committed to terminate the employment of an employee or to provide termination bersefits.
1.11 Retlrement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they
fall due,
16

New Horizons Partnersh+
Limited
Notes to the Financial Statements
continued
for the
ear ended 31 December 2023
1.12 Forelgn currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction.
Monetary assets and labilities denominated in foreign currencies are translated at the rate of
exchange ruling at the balance sheet date.
Judgements and key sources of estlmatlon uncertalnty
In the application of the charity's accounting policie5, the trustees are required to make
judgements, estimates and assumptions about the carrying amount of assets and liabilities that are
not readily apparent from other sources. The estimates and associated assumptions are based on
historical experience and other factors that are considered to be relevant. Actual results may differ
from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised where the
revision affects only that period, or in the period of the revision and future periods where the
revision affects both current and future periods.
Llmlted by guarantee
The charity is a company limited by guarantee and has no share capital. The liability of each
member in the event of winding-up is limited to £5.
Incomln
resources
Unrestrlcted
funds
Restrlcted
funds
2023
2022
Grants & Donations
WHSCT- special recognition payment
Halifax foundation
NI KNIB Small Grant
Other donations
10,558
8,000
1,040
1,040
197
1,237
197
197
835
19,393
1,040
Sales Income
WHSCT / Income
Facilitation - Donegal Horizons
Strabane Garden Centre
Learning Resources
304,041
304,041
18,715
42,677
4,295
369,728
285,159
31,826
40,496
3,867
361,348
18,715
42,677
4,295
65,687
304,041
Other incomln
resources
Unrestrlcted
fund5
Restrlcted
funds
2023
2022
Other income
3,296
3,296
3,296
3,296
2,279
2,279
17

New Horizon5 Partnershi
Limited
Notes to the Financial Statements
continued
for the
ear ended 310ecember 2023
Cost of charitable activities
Unrestricted
funds
Restricted
funds
2023
2022
Wages and salaries
Pensions
Horticultural purchases
Rent
Rates
Insurance
Light & heat
Repairs & maintenance
Cleaning
Stationery and printing
Advertising and promotion
Telephone and internet
Trainee allowances
Staff travel and subsistence
Motor expenses
Subscriptions
Bank charges
Sundry expenses
Other legal and professional costs
Trainee expenses
Temporary staff and recruitment cost
Depreciation
Profit/Loss on disposal of assets
225,785
18,388
2,925
225,785
18,388
22,368
34,951
2,570
4,263
18,692
3,024
2,013
7,248
768
6,226
6,060
2,724
1,346
1,155
2,122
5,929
6,202
11,018
2,450
5,861
216,429
11,790
19,474
34,958
1,216
1,651
21,039
4,059
3,211
8,556
616
20,406
5,360
5,087
1,418
1,009
1,718
6,496
7,832
6,220
4,769
7,318
{9,5691
381,062
19,443
34,951
2,570
4,263
18, 192
3,024
2,013
6,248
768
6.226
500
1,000
6,060
2,724
1,346
1,155
2,122
250
6,202
3,075
2,450
5,679
7,943
5,861
117,181
273,982
391,164
Governance costs
Unrestrlcted
funds
Restrlcted
funds
2023
2022
Audit and accountancy
3,840
3,840
3,840
3,840
4,080
4,080
18

New Horizons Partnershi
Limited
Note5 to the Financial Statements
continued
for the
ear ended 31 December 2023
Net incomin
resources for the
ear
2023
2022
This is stated after charging..
Depreciation of owned fixed assets
Amortisation of deferred income
Auditors, renumeration
5,861
7,318
3,840
9,701
3,000
10,318
9 Em
ee costs
2023
2022
Wages and salaries
Employer NIC
Pension costs
208,781
17,004
18,388
244,173
205,918
10,511
11,790
228,219
No employee received remuneration in excess of £60,00012022,' None)
Number of employees
Finance
Training & Community Placement
Horticulture
Catering
2023
2022
li
14
10 Trustees, Informatlon
No renumeration or other expenses were paid to the trustees during the year.
11 Pension costs
2023
2022
Pension charge
18,388
18,388
11,790
11,790
The charity operates an auto enrolment pension scheme and a defined contribution pension
scheme in respect of the staff who wish to avail of it. This scheme is run by Aegon. The assets of the
scheme are held separately from those of the charity
There was £2,626 outstanding at 31 December 2023
19

New Horizons Partnershi
Llmited
Notes to the Financial Statements
continued
for the
ear ended 31 December 2023
12 Taxation
The company is claiming tax exemption to the extent that income and/or gains are applicable and
apply to charitable purposes only.
13 Tan
ible flxed assets
Land and
Plant and
buildln
s Machiner
Total
Cost
At l January 2023
Additions
Disposals
At 31 December 2023
1,768
86,947
88,715
1,768
86,947
88,715
Depreclatlon
At l January 2023
Charge for the year
Disposal
At 31 December 2023
366
35
57,817
5,826
58,184
5,861
402
63,643
64,045
Net book value
At 31 December 2023
1,366
23,304
24,670
At 31 December 2022
1,401
29,130
30,531
14 Debtors
2023
2022
Trade debtors- Donegal Horizons
Service level agreement income
Prepayments
50,595
43,902
2,548
97,045
122,769
19,124
2,408
144,301
20

New Horizons Partnershi
Limited
Note5 to the Financial Statements
continued
for the
ear ended 31 December 2023
15 Creditors: amounts fallin
due within one
ear
2023
2022
Bank loans, overdrafts and credit cards
Trade creditors
Other taxes and social security costs
Accruals
632
2,903
9,419
5,926
18,880
411
4,490
5,230
5,941
16,072
16 Contln
ent Llabllltles
There is a contingent liability to repay all grant monies should they not be distributed under the
terms of the v3 rious initiatives. The trustees do not anticipate any repayment falling due under the
terms on which grants were received.
17 Restrlcted Funds
Flxed Asset
funds
Net Asset
funds
Total
funds
Balance At l January 2023
Movement for year
Transfer of funds
Balance At 31 December 2023
5,000
17,414
22,414
5,000
17,414
22,414
Fixed Asset Fund
The fixed asset fund is made up of grants received for the purchase of plant & machinery, office
equipment and improvements to property
Net Asset Fund
The net asset fund consists of monies receivable at 31 December 2023 and monies held, but not
vet Spent for restricted purposes. The main funders of the net assets fund are.,
Western Health & Social Care Trust
18 Unrestricted Funds
Desl nated
funds
Cashflow
Desi
nated
funds
Buildin
fund
General
fund
Total
funds
reserve
Balance At l January 2023
Surplus/ldef icitl for the year
Transfer between funds
Balance At 31 December 2023
290,235
120,7431
150,000
440,235
120,7431
269,492
150,000
419,492
21

New Horizons Partnershi
Limited
Notes to the Financial Statements
continued
for the
ear ended 31 December 2023
19 Anal
Sis of net assets between funds
Restricted
Income
funds
General
funds
Desi
nated
funds
Total
funds
Fund Balance at 31 December 2023
as represented by:
Tangible fixed assets
Current assets
Current liabilities
Non-current liabilities
5,000
17,414
19,670
268,702
(18,880)
24,670
436,116
118,8801
150,000
Balance At 31 December 2023
22,414
269,491
150,000
441,906
20 ReconcllSatSon of movement In funds to net cash
flow from o
eratln
activltles
2023
2022
Net movement in funds
120,7431
{1,6661
Add back depreciation charge
Add back loss on disposal of fixed assets
Decrease lincreasel in stock
Decrease lincreasel in debtors
Increase (decrease) in creditors
5,861
7,318
19,5691
4,013
124,2991
4,310
119,8931
295
47,256
2,808
35,477
21 Related
transactlons
The company provides services and goods to an associated company Donegal Horizons based in
Donegal. The board of trustees of Donegal Horizons contains the same trustees as New Hori20ns
Partnership.
22 Ultimate controllin
The company is limited by guarantee. There is no controlling party.
22