Mourne Stimulus Limited ri bl om Limited b Guarantee EPORT OF THE TRUSTEES for the ear end l March 2024 The Directors, who are the trustees for the purpose of charity law, have pleasure in presenting their report and the audited financlal statements of the charitable company for the year ended 31 March 2024. The flnancial statements have been prepared In accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" (FRS 102) and the Companies Act 2006. Reference and Administration Detalls The reference and administration details of the charitable company are as shown on page 2. Objectives and Activities Mourne Stimulus Limited is committed to provlding a high quality day care service for adults with a learning disability. This is catered for by providing a range of day care attivities which provides a focused learning and development tool for the attendees. The aims of the company are as follows: To provide quality service to adults with learning disabilities which enable them to ach ieve thei r full potential To support their parents and carers To advocate for them To help develop an envlronment that understands thelr needs, respects thelr human right5 and recognises their contribution. Publlc Beneflt statement The Director5 of Mourne Stimulus Limited confirm that they have cornplied with their duty under section 4(6) of the Charities Act (Northern Ireland) 2008 to have regard to the Charity Commisslon for Northern Ireland's guldance on public benefit and that the public benefit requlrement has informed the activities of the charitable company In the year ended 31 March 2024. Achievements and Performance Charitabl ivlties The Daycare Centre has continued to provide suitable servlces and actlvlties designed to maxlmlse the potential of attendees and has further developed the Garden Project durlng the year. Internal and external fac ors In consultation with Southern Health and Social Care Staff Mourne Stimulus continues to offer Attendees either full time or part time hours depending on their individual assessed needs. CavanaghKellyi Chartered Accountants & Statutory Auditors Page13
Mourne Ch ri timulus Limi ed Limite ar ee PORT HETR ST ES for th ear Conti Financial Review Financial Performance The financial performance was in line with the Board of Director's expertations. The charitable company remains in a sound financial position at the year end. The results for the year are set out in detail on pages 11 to 25. The charitable company made net outgoing resources for the year of £12,109 (2023 net outgoing resources of £37,045). At 31 March 2024, the total funds of the charity amounted to £510,492 (2023: £522,601) comprising restricted funds of £174,904 (2023.. £(32,976)), designated funds of £112,115 (2023.. £112,115) and unrestricted funds of £223,473 (2023.. £443,462). Principal sources of funding and how this has supported the key objectives of the charitable company are disclosed in the notes to the financial statements. Reserves Policy The charitable company has no free reserves at the year end. The Directors believe that It is prudent to work towards holding 6 months funding. The main reason for holdlng reserves is to ensure that the charity has enough resources to fund the programmes It is supporting and to meet any emergencies that may arise. For this purpose the charitable company Is holding £112,115 in deslgnated funds (2023., £112,115). Rlsk Management The Board of Direttors has conducted a revlew of the key risks faclng the charity and has established a strategic plan and procedures to manage those risks. Continuous external risks in relation to funding have led to the development of a structured approach which allows for the longer-term diversification of funding and actlvities. Internal rlsks are minlmised by the implementation of procedures for authorisation of all transaction5 and projects and to ensure consistent quality of delivery for all operational aspects of the charity. Future Plans It remains the Boards wlsh to develop further projects for the attendees as well as seeking additional funding for the Daycare servlce. Furthermore, it is still the intention of the Board to expand the range of services to include the provision of a purpose-built Therapeutic Work Hub. This will necessitate the procurement of additional funding to ensure that such a service can be developed to provide Day Opportunities for attendees. A Sensory Garden project is also going to be progressed, and funds have been of £23,541 have been set aside specifically for this project. CavanaghKellyi Chartered Accountants & Statutory Audltors Page14
Mourne Stimulus Limit char.ta an nt REPORT E TRUSTEE for ear 31 March 024 Con structure, Governance and Management The charitable company is a company limited by guarantee, not having a share capital. The charitable company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In accordance with the Articles of Association, the members to retire by rotation shall be those who have been longest in office since their last election, and the relevant motion will be put forward at the Annual General Meeting. A retiring member shall be eligible for re-election. The charitable company is governed by the Board of Directors. None of the Directors have any beneficial interest in the charitable company. Any person wishin9 to become a dlrector must apply in writing prior to the annual general meeting. A vote is then taken at the annual general meeting as to whether that person is appointed. Dlrectors The Director5 durlng the year are the same as the Dlrectors as listed on page 2. Taxation Status The charitable company is recognised as a charity by HM Revenue & Customs. Accordinglyi the charitable company has availed of the exemptions contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Act 1992. Directors. Responsibilities The Dlrectors are responsible for preparing the financial statements In accordance with appllcable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting Practice). Company law requires the Dlrectors to prepare flnancial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and applicatlon of resources, including the Income and expenditure, of the charitable company for that year. In preparlng these financlal statements the Dlrectors are required to: select sultable accounting pollcies and apply them consistently. observe the methods and principles in the Charities SORP (FRS 102); 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 prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will contlnue in operation. The Directors are responsible for keeping adequate accountlng records that disclose with reasonable accuracy at any time the financial positlon of the charitable company and enable them to ensure that the financial staternents 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. CavanaghKellyi Chartered Accountants & Statutory Auditors Pa¥c15
rn Stimul s L'mited ar"table C Lim ar nt REPO FTHET TEES f ea ende rch2 Conti statement of Disclosure of Information to Auditor In so far as the Directors, who held office at the date of approval of these financial statements, are aware.. there is no relevant audit information of which the charitable company's auditor is unaware; and the Directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establlsh that the auditor is aware of that information. Small Companies Exemption The above report has been prepared in accordance wlth the special provlsions relating to small companies wlthin Part 15 of the Companies Art 2006. This report was approved by the Board of Directors on 19 December 2024 and slgned on its behalf by.. Registered offlce: I Council Road Kllkeel Co. Down BT34 4NP &A G Nicholas TRUSTEE io CavanaghKellyi Chartered Accountants & Statutory Audltors Page16