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2025-03-31-accounts

Company Registration Number: NI029812 Charity Registration Number: XR17090

Mourne Stimulus Limited (Charitable Company Limited by Guarantee)

Annual Report and Audited Financial Statements

For the year ended 31 March 2025

CONTENTS For the year ended 31 March 2025

Page
General Information 2
Report of the Trustees 3 – 6
Independent Auditor’s Report 7 – 10
Statement of Financial Activities 11
Statement of Financial Position 12
Statement of Cash Flows 13
Notes to the Financial Statements 14 – 26

Mourne Stimulus Limited (Charitable Company Limited by Guarantee)

GENERAL INFORMATION

Trustees Mrs K Campbell (Resigned 23 June 2025) Mrs M Morris Mr G Hanna Ms C Cranston Ms L Campbell Ms M Haugh Ms D Bailie Mrs K Hanna Mr G Mitchell Mr G Nicholas Ms P Trainor (Appointed 6 May 2025) Company Secretary Mr G Nicholas Registered Office 1 Council Road Kilkeel Co. Down BT34 4NP Company Registration Number NI029812 Charity Registration Number XR17090 Independent Auditors Cooper Parry Audit (Ireland) Ltd 36-38 Northland Row Dungannon Co Tyrone BT71 6AP Bankers AIB 42-44 Hill St Newry Co Down BT34 1AU

Page | 2

Mourne Stimulus Limited (Charitable Company Limited by Guarantee)

REPORT OF THE TRUSTEES for the year ended 31 March 2025

The Directors, who are the trustees for the purpose of charity law, have pleasure in presenting their report and the audited financial statements of the charitable company for the year ended 31 March 2025.

The financial 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 Details

The reference and administration details of the charitable company are as shown on page 2.

Objectives and Activities

Mourne Stimulus Limited is committed to providing a high quality day care service for adults with a learning disability. This is catered for by providing a range of day care activities which provides a focused learning and development tool for the attendees.

The aims of the company are as follows:

Public Benefit Statement

The Directors of Mourne Stimulus Limited confirm that they have complied with their duty under section 4(6) of the Charities Act (Northern Ireland) 2008 to have regard to the Charity Commission for Northern Ireland’s guidance on public benefit and that the public benefit requirement has informed the activities of the charitable company in the year ended 31 March 2025.

Achievements and Performance

Charitable activities

The Daycare Centre has continued to provide suitable services and activities designed to maximise the potential of attendees and has further developed the Garden Project during the year.

Internal and external factors

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.

Page | 3

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

REPORT OF THE TRUSTEES for the year ended 31 March 2025 (Continued)

Financial Review

Financial Performance

The financial performance was in line with the Board of Director’s expectations. 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 26. The charitable company made net incoming resources for the year of £113,233 (2024 – net outgoing resources of £12,109).

At 31 March 2025, the total funds of the charity amounted to £621,055 (2024: £510,492) comprising restricted funds of £176,545 (2024: £174,904), designated funds of £112,115 (2024: £112,115) and unrestricted funds of £332,395 (2023: £223,473). 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 holding 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 designated funds (2024: £112,115).

Risk Management

The Board of Directors has conducted a review of the key risks facing 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 activities. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charity.

Future Plans

It remains the Boards wish to develop further projects for the attendees as well as seeking additional funding for the Daycare service.

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.

Page | 4

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

REPORT OF THE TRUSTEES for the year ended 31 March 2025 (Continued)

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 wishing to become a director 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.

Directors

The Directors during the year are the same as the Directors as listed on page 2.

Taxation Status

The charitable company is recognised as a charity by HM Revenue & Customs. Accordingly, 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 Directors are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Directors to prepare financial 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 application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements the Directors are required to:

The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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.

Page | 5

Mourne Stimulus Limited (Charitable Company Limited by Guarantee)

REPORT OF THE TRUSTEES for the year ended 31 March 2025 (Continued)

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:

Small Companies Exemption

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

This report was approved by the Board of Directors on 27 January 2026 and signed on its behalf by:

Registered office:

1 Council Road Kilkeel ______ Co. Down G Nicholas BT34 4NP TRUSTEE

Company Registration Number: NI029812

Charity Registration Number: XR17090

Page | 6

Mourne Stimulus Limited (Charitable Company Limited by Guarantee)

INDEPENDENT AUDITORS’ REPORT to the Directors of Mourne Stimulus Limited for

the year ended 31 March 2025

Opinion

We have audited the financial statements of Mourne Stimulus Limited ('the charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and the related notes to the financial statements, including a summary of significant accounting policies. 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” (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charitable company’s Directors, 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 charitable company’s Directors those matters we are required to state to them 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 charitable company and the charitable company’s Directors as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 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.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which ISAs (UK) require us to report to you where:

Page | 7

Mourne Stimulus Limited (Charitable Company Limited by Guarantee)

INDEPENDENT AUDITORS’ REPORT to the Directors of Mourne Stimulus Limited for

the year ended 31 March 2025 (Continued)

Other Information

The directors are responsible for the other information. The other information comprises the information included in the Directors’ Report, other than the financial 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.

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 appears 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 this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Page | 8

Mourne Stimulus Limited (Charitable Company Limited by Guarantee)

INDEPENDENT AUDITORS’ REPORT to the Directors of Mourne Stimulus Limited for

the year ended 31 March 2025 (Continued)

Responsibilities of Directors

As explained more fully in the Directors’ Responsibilities Statement, the directors (who are also the trustees of the charitable company for the purpose of charity law), are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors 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 directors are responsible for assessing the company'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 directors either intends to liquidate the charitable company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements 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 assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The objectives of our audit in respect of fraud are to assess the risk of material misstatement due to fraud, design and implement appropriate responses to those assessed risks and to respond appropriately to instances of fraud or suspected fraud identified during the course of our audit. However, the primary responsibility for the prevention and detection of fraud rests with management and those charged with governance of the company.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

Page | 9

Mourne Stimulus Limited (Charitable Company Limited by Guarantee)

INDEPENDENT AUDITORS’ REPORT to the Directors of Mourne Stimulus Limited for

the year ended 31 March 2025 (Continued)

The audit response to risks identified included:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Mr. Ryan Falls FCA (Senior Statutory Auditor) For and on behalf of COOPER PARRY AUDIT (IRELAND) LTD Statutory Auditors 36 – 38 Northland Row Dungannon Co. Tyrone BT71 6AP

Date: 27 January 2026

Page | 10

Mourne Stimulus Limited (Charitable Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES

(Including an income & expenditure account) For the year ended 31 March 2025

INCOME AND ENDOWMENTS

Charitable Activities (Note 3) Donations and Legacies (Note 3) Investment Income (Note 3)

TOTAL

RESOURCES EXPENDED

Charitable Activities (Note 4) Support Costs (Note 4) Finance Costs (Note 4) Governance Costs (Note 4) TOTAL

NET INCOMING/(OUTGOING RESOURCES FOR THE YEAR

Transfers between funds (Note 14) Balance brought forward

Balance carried forward

Unrestricted Restricted Designated Total Unrestricted Restricted Designated Total
Funds Funds Funds Funds Funds Funds Funds Funds
2025 2025 2025 2025 2024 2024 2024 2024
£ £ £ £ £ £ £ £
102,201 19,982 - 122,183 97,210 23,615 - 120,825
497 444,727 - 445,224 3,267 426,718 - 429,985
134,832 - - 134,832 11,127 - - 11,127
237,530 464,709 - 702,239 111,604 450,333 - 561,937
69,821 457,945 - 527,766 78,214 424,211 - 502,425
47,660 4,995 - 52,655 51,293 7,583 - 58,876
1,542 - - 1,542 1,342 - - 1,342
7,043 - - 7,043 11,138 265 - 11,403
126,066 462,940 - 589,006 141,987 432,059 - 574,046
111,464 1,769 - 113,233 (30,383) 18,274 - (12,109)
128 (128) - - (189,606) 189,606 - -
223,473 174,904 112,115 510,492 443,462 (32,976) 112,115 522,601
335,065 176,545 112,115 623,725 223,473 174,904 112,115 510,492

The above Statement of Financial Activities includes all information as required to be disclosed by the Companies Act 2006. All of the activities of the charitable company are classed as continuing.

The Statement of Financial Activities includes all gains and losses recognised during the year. The notes on pages 14 to 26 form an integral part of the financial statements.

Page | 11

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

STATEMENT OF FINANCIAL POSITION as at 31 March 2025

Notes
FIXED ASSETS
Tangible assets
8
Investments
Investments
9
Investment property
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS:Amounts falling due within one year
12
NET CURRENT ASSETS/(LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
13
FUNDS
Unrestricted funds
14
Restricted funds
14
Designated funds
14
Total Funds		 2025
2024
£
£
260,269
178,014
90,426
107,382
-
223,305
350,695
508,701
325
325
294,330
25,113
294,655
25,438
(21,625)
(23,647)
273,030
1,791
623,725
510,492
623,725
510,492
335,065
223,473
176,545
174,904
112,115
112,115
623,725
510,492

These financial statements have been prepared in accordance with the provisions applicable to the small companies’ regime within Part 15 of the Companies Act 2006.

The notes on pages 14 to 26 form an integral part of the financial statements.

The financial statements were approved and authorised for issue by the Board of Trustees on 27 January 2026 and were signed on its behalf by:

________ G Hanna G Nicholas TRUSTEE TRUSTEE

Company Registration Number: NI029812 Charity Registration Number: XR17090

Page | 12

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

STATEMENT OF CASH FLOWS For the year ended 31 March 2025

Cash flows from operating activities
(Deficit) for the year
Adjustments for:
Depreciation
Profit on disposal of investment property
FV gain on investments
Movements in working capital:
Movement in receivables
Movement in payables
Net cash (used in)/generated from operating
activities
Cash flows from investing activities
Acquisition of property, plant and equipment
Disposal proceeds on investment properties
Disposal proceeds on listed investments
Net cash used in investing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of
financial year
Cash and cash equivalents at end of financial
year
Cash and cash equivalents consists of:
Cash at bank and in hand		 2025
2024
£
£
113,233
(12,109)
10,699
12,527
(129,660)
-
(3,272)
(4,808)
(9,000)
(4,390)
-
-
(2,022)
(10,472)
(2,022)
(10,472)
(11,022)
(14,862)
(92,954)
-
352,965
-
20,228
15,890
280,239
15,890
269,217
1,028
25,113
24,085
294,330
25,113
2025
2024
£
£
294,330
25,113

Page | 13

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

1. GENERAL INFORMATION

Mourne Stimulus Limited is a charitable company limited by guarantee incorporated in Northern Ireland. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company. The address of the registered office is as shown on page 1.

The charitable company constitutes a public benefit entity as defined by FRS 102.

The financial statements are stated in £ sterling which is the functional currency of the charitable company.

2. ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charitable company's financial statements.

2.1 Statement of Compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019 (Second Edition), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.

2.2 Basis of Preparation

The financial statements are prepared on a going concern basis under the historical cost convention unless otherwise stated in the relevant accounting policy. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

2.3 Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

2.4 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Page | 14

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 March 2025

2. ACCOUNTING POLICIES (Continued)

2.5 Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold Property: 2% straight line Plant and Machinery: 20% reducing balance Fixtures and fittings: 20% reducing balance Computer equipment: 33% reducing balance

2.6 Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

2.7 Trade and Other Receivables

Trade and other receivables are initially recorded at fair value and thereafter stated at cost less impairment losses for bad and doubtful debts.

2.8 Trade and Other Payables

Trade and other payables are initially recognised at fair value and thereafter stated at cost.

2.9 Taxation

The charity is exempt from corporation tax on its charitable activities.

2.10 Pension

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.11 Financial instruments

The charitable company have chosen to adopt Sections 11 and 12 of FRS102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by group companies are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Page | 15

Mourne Stimulus Limited (Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued)

For the year ended 31 March 2025

2. ACCOUNTING POLICIES (Continued)

2.12 Financial instruments (continued)

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Statement of Financial Activities.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and hire purchase contracts 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

2.13 Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, 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 revisions affects both current and future periods.

Page | 16

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 March 2025

2. ACCOUNTING POLICIES (Continued)

2.10 Fund Accounting

The charity has three types of funds for which it is responsible at the year end:

Unrestricted Funds – Funds which are expendable at the discretion of the directors in furtherance of the objectives of the charity. In addition, funds may be held in order to finance capital investment and working capital.

Restricted Funds – Income received for specific purposes. Such purposes are within the overall aims of the charity.

Designated Funds – Funds that have been specifically earmarked by the charity towards its reserves policy. The charity aims to maintain reserves of up to six months expenditure.

3. INCOME AND ENDOWMENTS

Income from Charitable Activities
Income From Picture Framing
Shop income
Donations
Dinner Monies
Transport & Outings
Horticulture & Crafts
Golf Classic
Fashion Show
Attenders Activities & Raffles
Total Charitable Activities
Donations and Legacies
Donations – Restricted
Trust Funding
Other Grants
Investment Income
Bank interest received
Lodgements to House
Increase Value of Investments
Profit on disposal of investment property
Total Income and Endowments		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2025
2025
2025
£
£
£
3,037
-
3,037
35,305
-
35,305
31,759
-
31,759
-
19,982
19,982
-
-
-
13,607
-
13,607
8,118
-
8,118
6,575
-
8,118
3,800
-
3,800
102,201
19,982
122,183
Unrestricted
Funds
Restricted
Funds
Total
Funds
2025
2025
2025
£
£
£
497
15,693
16,190
-
429,034
429,034
-
-
-
497
444,727
445,224
Unrestricted
Funds
Restricted
Funds
Total
Funds
2025
2025
2025
£
£
£
9
-
9
1,891
-
1,891
3,272
-
3,272
129,660
-
129,660
134,832
-
134,832
237,530
464,709
702,239

Page | 17

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 March 2025

3. COMPARATIVE INCOME AND ENDOWMENTS

Income from Charitable Activities
Income From Picture Framing
Shop income
Donations
Dinner Monies
Transport & Outings
Horticulture & Crafts
Golf Classic
Fashion Show
Attenders Activities & Raffles
Total Charitable Activities
Donations and Legacies
Donations – Restricted
Trust Funding
Grants
Investment Income
Bank interest received
Lodgements to House
Increase Value of Investments
Total Income and Endowments		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2024
2024
2024
£
£
£
3,428
-
3,428
37,113
-
37,113
35,526
-
35,526
-
20,915
20,915
-
-
-
10,840
-
10,840
9,254
-
9,254
-
-
-
1,049
2,700
3,749
97,210
23,615
120,825
Unrestricted
Funds
Restricted
Funds
Total
Funds
2024
2024
2024
£
£
£
26
32,024
32,050
-
394,694
394,694
3,241
-
3,241
3,267
426,718
429,985
Unrestricted
Funds
Restricted
Funds
Total
Funds
2024
2024
2024
£
£
£
4
-
4
6,315
-
6,315
4,808
-
4,808
11,127
-
11,127
111,604
450,333
561,937

Page | 18

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 March 2025

4. RESOURCES EXPENDED

Charitable Activities
Wages and Salaries
Travelling
Centre Outings & Activities
Holiday Home Running Costs
Food Expenses
Staff Training
Tangible fixed asset depreciation
Support Costs
Rent
Rates and Water
Insurance
Light and Heat
Telephone
Post and Stationery
Advertising
Repairs and Renewals
Refuse Collection
Household and Cleaning
Computer Costs
Sundry Expenses		 Unrestricted
Funds
2025
£
Restricted
Funds
2025
£
Total
Funds
2025
£
32,480
431,691
464,171
5,528
-
5,528
11,563
622
12,185
5,583
-
5,583
1,033
20,282
21,315
8,180
105
8,285
5,454
5,245
10,699
69,821
457,945
527,766
Unrestricted
Funds
2025
£
Restricted
Funds
2025
£
Total
Funds
2025
£
1,300
-
1,300
548
-
548
12,516
-
12,516
7,146
4,995
12,141
2,338
-
2,338
1,019
-
1,019
736
-
736
8,330
-
8,330
2,440
-
2,440
-
-
-
4,036
-
4,036
7,251
-
7,251
47,660
4,995
52,655

Page | 19

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 March 2025

4. RESOURCES EXPENDED (Continued)

Finance
Bank Charges
Governance Costs
Accountancy Fees
Head Office Expenditure
Consultancy Fees
Legal and Management Fees
Total Resources Expended
COMPARATIVE RESOURCES EXPENDED
Charitable Activities
Wages and Salaries
Travelling
Centre Outings & Activities
Holiday Home Running Costs
Food Expenses
Staff Training
Tangible fixed asset depreciation		 Unrestricted
Funds
2025
£
1,542		 Restricted
Funds
2025
£
Total
Funds
2025
£
-
1,542
-
1,542
Restricted
Funds
2025
£
Total
Funds
2025
£
-
5,454
-
196
-
1,155
-
238
-
7,043
462,940
589,006
Restricted
Funds
2024
£
Total
Funds
2024
£
394,694
424,419
-
7,060
2,857
9,780
-
22,082
20,915
21,854
-
4,703
5,745
12,527
424,211
502,425
1,542
Unrestricted
Funds
2025
£
5,454
196
1,155
238
7,043
126,066
Unrestricted
Funds
2024
£
29,725
7,060
6,923
22,082
939
4,703
6,782
78,214

Page | 20

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 March 2024

4. RESOURCES EXPENDED (Continued)

Support Costs
Rent
Rates and Water
Insurance
Light and Heat
Telephone
Post and Stationery
Advertising
Repairs and Renewals
Refuse Collection
Computer Costs
Sundry Expenses
Finance
Bank Charges
Bank Interest
Governance Costs
Accountancy Fees
Head Office Expenditure
Consultancy Fees
Legal and Management Fees
Total Resources Expended		 Unrestricted
Funds
2024
£
Restricted
Funds
2024
£
Total
Funds
2024
£
1,300
-
1,300
255
-
255
13,962
-
13,962
13,975
5,876
19,851
2,057
-
2,057
875
-
875
66
-
66
7,198
1,000
8,198
3,107
-
3,107
3,771
-
3,771
4,727
707
5,434
51,293
7,583
58,876
Unrestricted
Funds
2024
£
Restricted
Funds
2024
£
Total
Funds
2024
£
1,339
-
1,339
3
-
3
1,342
-
1,342
Unrestricted
Funds
2024
£
Restricted
Funds
2024
£
Total
Funds
2024
£
7,221
-
7,221
144
-
144
1,260
-
1,260
2,513
265
2,778
11,138
265
11,403
141,987
432,059
574,046

Page | 21

Mourne Stimulus Limited (Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued)

For the year ended 31 March 2025

5. NET INCOME/(EXPENDITURE) FOR THE YEAR

Net income/(expenditure) is stated after charging/(crediting):

Depreciation – owned assets
Auditor’s Remuneration
6. AUDITORS' REMUNERATION
Auditor’s remuneration
– audit services		 2025
£
2024
£
10,699
12,528
4,725
4,500
2025
2024
£
£
4,725
4,500
4,725
4,500

7. STAFF COSTS AND EMPLOYEE BENEFITS

The average number of persons employed by the charitable company during the year was 18 (2024: 28).

The total staff costs and employee benefits were as follows:

Gross wages and salaries
Employers’ national insurance contributions
Pension		 2025
2024
£
£
432,986
396,327
25,584
22,732
5,601
5,360
464,171
424,419

No employee of the charity earned more than £60,000 in the period in question.

7.1. DIRECTORS’ REMUNERATION

The Directors received nor waived any remuneration or any other benefits during the year.

Travel expenses of £nil (2024: £Nil) were reimbursed to Directors for out of pocket costs.

Page | 22

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 March 2025

8. TANGIBLE FIXED ASSETS

Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for year
At 31 March 2025
Net Book Values
At 31 March 2025
At 31 March 2024		 Freehold
Property
£
Plant and
Machinery
£
Fixtures
and Fittings
£
Computer
equipment
£
150,011
51,500
47,052
9,644
91,702
-
1,252
-
241,713
51,500
48,304
9.644		 Total
£
258,207
92,954
351,161
9,175
25,121
37,214
8,683
3,000
5,276
2,106
317
12,175
30,397
39,320
9,000
229,538
21,103
8,984
644
140,836
26,379
9,838
961		 80,193
10,699
90,892
260,269
178,014

9. FIXED ASSET INVESTMENTS

MARKET VALUE
At 1 April 2024
Disposals
Revaluations
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024		 Listed
investments
£
107,382
(20,228)
3,272
90,426
90,426
107,382

There were no investment assets outside the UK.

Page | 23

Mourne Stimulus Limited (Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 March 2025

9. FIXED ASSET INVESTMENTS – CONTINUED

Cost or valuation at 31 March 2025 is represented by:

Valuation in 2025
Valuation in 2024
Valuation in 2023
Valuation in 2022
Valuation in 2021
Valuation in 2020
Valuation in 2019
Valuation in 2018
Valuation in 2017
Valuation in 2016
Valuation in 2015		 Listed
investments
(16,956)
4,808
(7,692)
4,973
27,070
(10,014)
7,757
(354)
21,425
(13,343)
(4,358)
77,110
90,426

10. INVESTMENT PROPERTY

FAIR VALUE
At 1 April 2024
Disposals
31 March 2025
NET BOOK VALUE
At 31 March 2025
And 31 March 2024		 £
223,305
(223,305)
-
-
223,305

11. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

Prepayments 2025
£
325
325		 2024
£
325
325

Page | 24

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 March 2025

12. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other taxes and social security
Accruals and deferred income
Other creditors		 2025
£
6,579
7,202
5,400
2,444
21,625		 2024
£
13,158
5,089
5,400
-
23,647

13. ANALYSIS OF NET ASSETS

Fixed Assets
Investments
Current Assets
Current Liabilities
Net Assets		 Restricted
Funds
Unrestricted
Funds
Designated
Funds
Total
£
£
£
£
146,639
113,630
-
260,269
-
-
87,756
87,756
29,906
240,390
24,359
294,655
-
(21,625)
-
(21,625)
176,545
332,395
112,115
621,055

Page | 25

Mourne Stimulus Limited

(Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 March 2025

14. ANALYSIS OF FUNDS

Day Care Centre
Extension
Hughes Insurance –
Defibrillator
SHSCT
Dinner Monies
Attenders Holiday
Regen Waste
Pulse Care Agency
Show – Music licence
Sensory Garden Project
SJP Foundation
JMK Solicitors –
Shop Boiler
Newry Mourne & Down
District Council
Warrenpoint Authority
Other donations
Crowdfunder re Aviva
Total Restricted
Funds
Unrestricted Funds
Designated Funds
Total		 Opening
Balance
£
Income
£
Expenditure
£
Transfer
Between
funds
Closing
Balance
£
18,892
-
(1,785)
-
17,107
131,993
-
(3,349)
-
128,644
-
1,000
(111)
-
889
-
429,034
(429,034)
-
-
-
19,982
(19,982)
-
-
45
-
-
(45)
-
-
5,000
(4,437)
-
563
350
-
-
-
350
83
-
-
(83)
-
23,541
-
-
-
23,541
-
2,500
(2,500)
-
-
-
1,500
-
-
1,500
-
558
(558)
-
-
-
240
(240)
-
-
-
944
(944)
-
-
-
3,951
-
-
3,951
174,904
464,709
(462,940)
(128)
176,545
223,473
105,097
3,697
128
332,395
112,115
-
-
-
112,115
510,492
569,806
(459,243)
-
621,055

Page | 26