Omagh Independent Advice Services Statement of financial activities 4 or the year ended 31 Ivlarch 2023 Unrestricted RestTlCted funds funds Year 2023 Yeqr 2022 Notes Income and endowments from Donations and legacies Charitable &ctivitieB Other 658 658 197,285 465 15D 218,690 197,285 465 Total 1,123 197,285 198,408 218,846 Expenditure on. Cliaritable activities Other 589 458 180.342 180,931 458 199,147 572 Total 1,047 180.342 181,389 L99,719 Net incomel(expenditure) 76 16,943 17,019 19,127 Reconcilation of funds Total funds broughi forward 30,888 67,745 98,633 79,506 Total funds carrled forward 30,964 84,688 115,652 98,633 The statcmLnt of financial activities includes all gains and losses in the year and thLrefore a separate statetnent ot total recognised gaills and losses ha8 llot beeD prepdred. All of Ihe above amount% relate to continuing activitics. The notes on pages 7 to 10 torm an integral part of these financial State¢ts. Page 5
Omagh Independent Advice Services Balance sheet as at 31 March 2023 2023 2022 Notes r4 ixed aetS Tangible fixed assets Current assets Debtors Ballk and cash 1,832 2,290 26,297 89.509 62,531 41,965 115,806 104,496 Creditors: amounts falling due within one year io (3,697) (8,153} Net current assets 112,109 96,343 Total assets le&s current liabilities Suspense 113,941 1,711 98,633 Net (liablllties)lassets 115,652 98,633 Fullds Unrestricied iTLcome funds: ReslTiCted incorne funds 30,964 84,688 30,888 67,745 Total funds 115,652 98,633 The financial statements were approved by the trnstees on 25 January 2024 and signed on its behalf by Jim Sharkey Chairman Mary T Conway Secretary The notes on pages 7 to 10 forni an integral part of these fingnelgl statements. Page 6
Ornagh Independent Advice Services Notes to the financial statements for the year ended 31 March 2023 Accounting policies The principal accoiinting policies are suntnarised below. The accounting policies have been applied consistently throughout the year. 1.1. Basis of accounting The financial statements are prepared under the historical cost convention and in accordance with the Charity SORP and Charities Act (Northern Ireland) 2008 and The Charities (Accounts and Reporls Regulaliolls (Nortl)ern Ireland) 2015. The trustees consider that fhere are no ter1&11 uncertainties about the charity's ability to continue a8 a going concen). 1.2. Cashnow The charity has taken advantage of the exemption in FRSI from the requiiement to produce a ca8hflow statement because it ig a SMAII clwity. 1.3. Incoming resourc All incoming resources are included ill the statement of financial activities when the ChltY is entitled to the income alld the amount can be quantified with reasonable accLiracy. The following specific policies are applied to particular categorie,q of income.. Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activitie5 when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the Charity where this can be quantified and a third party 15 bearing the cost. The value ol services provided by volunteers has Dot been included. Income from inVeStentS is included in the year in which it is receivable. Support costs are those costs incurred directly in support of expenditute ou the objects of the charity and includtt project management. 1.4. RoUrceS expended Expenditure is recognised on an accrual basis as a li&bility is incurred. Expenditure includes any VAT which cannot be tully recovered, and is reported as part of the expenditure to which it relates. Costs of charitable activities includes those activites undeTtakeii to further the PWPDses of the ChltY and their associated 8UPPQrt costs. Other expenditure represents those items not falling into kmy oiber heading. Support costs are those functions that asslst the work of the chaLiry bul do not directly undeitake charitable ctivities. Support costs include back office costs, finance, personnel, payroll and governance costs whcih support the chaiity's activities.The8e costs have been alloc£tted between cost of raising lld8 and expenditure on eharitable activities. Page 7
Omagh Imdependent Advice Services Notes to the financial statements for the year ended 31 March 2023 1.5. Tanglble ffixed assets and depreclation Tangible fixed assets are stated at cost less accutnulated depreciation. Depreciation is provided at rates calrulated to write off the cosi less residual value of each asset over ils expected useful life, as follows: Plant and machinery Fixtures. fittings and equipmellt 2010 Redu¢illg balance 1.6. DefSned contribution pension schemes The pension costs charged in the financial staiements represent the ¢oniributioJ payable by the charity during the year. Income from investments 2023 2022 Income from iThvestnnts 465 Donatlons and legacles 2023 Total 2022 Total unro8trlet¢d Donations & fundraising 658 658 150 658 658 150 Income from Charitable activities Unrestrlcted Restricted funds funds 2023 Total 2022 Total Fernianagh Omagli Di,%trict Council Debt Acllon Welfare Reform Tribunal Representation DFC Energy Paymtnl Donation - Fundraising Advice NI Trainee Financial Inclusion 136,429 17,464 31,812 10,080 1,500 136,429 17,464 31,812 10.080 1,500 658 120,692 25,752 32,190 11,200 658 150 13,435 658 1.97,285 197.943 203,419 Page 8
Omagh Indepelldent Advice Services Notes to the fRnanciaI ststements for the year ended 31 March 2023 Expenditure on Cbaritable actlvities Charitable activities Support costs 2023 Total 2022 Tolai Wages and salaTieS Rent Infonnation Insurance Light and heat Staff costs - Pension ¢osls Advertising Telephone Computer costs - FRP COVID Expenses- FRP Travelling AccountsCY Bank Charges Subscriptions - FRP Si&'ff training Equipment General 113,803 12.698 33,662 147,465 12,698 L65,544 12,699 4,535 3,544 1,162 2,094 3,237 173 30 4.56.5 3,544 1,162 2,094 2,069 2,046 170 3,007 2.684 183 173 877 1,544 877 1,544 271 3,139 162 1,123 1,624 277 5,849 324 271 288 162 2,851 1,181 146,518 34.413 180,933 198.780 Employees Empluyment costs 2023 2022 W&ges tmd 5aluries Pension costs 147.465 1,162 165,544 170 148,627 165,714 No employee received emolurnents of more th1 £60,000 (2022 ., None), Trustees, expenses No expenses or remuneration were paid to Iruslees during ihe year. Page 9
Omagh Independent Advice Services Notes to the fancial statements for the year ended 31 March 2023 Flxtures, Plant and flttings and machlnery equipment Tangible fixed assets Total Cost At l April 2022 and At 31 March 2023 1,765 20,890 22,655 Depreciatlon At l April 2022 Charge for the year 1,765 18,600 458 20,365 458 At 3 1 March 2023 1,765 19,058 20,823 Nel book valu At 31 Marcli 2023 1,832 1,832 At 31 March 2022 2,290 2.290 Debtors 2023 2022 FODC Welfare ieform Debi Action Tribunal Representation Financial Inclusion 20,795 3,181 2,32 I 39,441 5,403 8.325 1,120 8,242 26,297 62,531 10. Creditors: amounts falling due within one year 2023 2022 Bank Overdraft TaKe,8 and social 8ecurily creditor A¢¢rurAls and defcrred income 301 264 3,132 6,498 67 1,588 3,697 8.153 11. Indemnity insurance The charity paid for the insurance premiums to indemnrfy trustee8 and senior Staff from any loss aiising from neglect or defaults of Iruslees OT Staff and any consequent loss. Page 10