COMPANY REGISTRATION NUMBER: N1659055 CHARITY REGISTRATION NUMBER: 101636 NIPSCBF Company Limited by Guarantee Unaudited Financial Statements 31 March 2024
NIPSCBF Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the directorfs report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows Notes to the financial statements
Page 1 NIPSCBF Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. Reference and administrative details Registered charity name NIPSCBF Charity registration number 101636 Company registration number N1659055 Principal office and registered HM Prison Maghabery Old Road office Upper Ballindery Lisburn Antrim BT28 2PT The trustees l Millar J Aicken R Atknison P Bradley J Burton K Clarke M Mcmullan R hlurtagh J Simpson N Mullan D Jackson Independent examiner Elaine Mulholland on behalf of Johnston Graham Limited 2161218 Holywood Road Belfast BT4 1PD structure, governance and management On 1 October 2020 the Northem Ireland Prison Service Central Benevolent Fund, an unincorporated entity which is a registered charity, transferred its assets and liabilities in their entirety to NIPSCBF, having first sought approval from The Charites Commission of Northern Ireland. The company has now been fomially registered with The Charities Commission of Northem Ireland and it's a company limited by guarantee, registered in Northern Ireland. The company was formed lo continue the objectives of relief of povety and need for its members.
Page 2 NIPSCBF Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 31 March 2024 Objectives and activities The objects are to promote the following purposes: the relief of povety or need by reason of age, ill health, disability, financial hardship or other disadvantage of those employees or fomier employees of the Northem Ireland Prison SeNice who were or are members of the charity. and their widows, widowers and dependents and those civilian grades employed within the Northem Ireland Prison Service who are current members of the charity and upon such civilian grade being medically retired from the employment of the Northern Ireland Prison Service or or being deceased their widows. widowers and dependents,. and such other exclusively charitable purpose according to the law of Northem Ireland as the trustees may from time to time decide. In setting objectives and planning activities for the year, the trustees have given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the activities have helped to achieve the Charity's purposes and provide a benefit to the beneficiaries.
Page 3 NIPSCBF Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contlnued) Year ended 31 March 2024 Achievements and performance The charty provides assistance to its beneficiaries through the provision of donations, annuities, loans and other forms of assistance. The charity also provides respite seNices. accommodation and holiday homes to its beneficiaries. The breakdown of the Beneficiaries a,. 1845 Retired Officers, 580 Widows, and we have 887 Serving staff members. The Assistance committee within the fund have also spent another year working efficiently ensuring that the needs of any of our beneficiaries who have requested assistance are met. Our nomial meetings are held on the first Monday of each month. This year all properties at home were used to their full potential. In April we purchased another 2 bedroom property in Potora Wharf, Enniskillen. A full programme of events were held this year: 9th May 23 25th - 27th May 23 24th June 23 6th July 23 28th July 23 28th August 23 10th September 23 17th September 23 22nd-29th Sept 23 1 Oth-13th Oct 23 18th October 23 10th November 23 24th-26th Nov 23 8th December 23 9th December 23 14th December 23 15th December 23 21st-23rd Feb 24 PJ Kerr Memorial Gotf Day Trip to Chelsea Flower Show Day at The Races David Black Memorial Day Trip to Jungle Nl Family Fun Day Trip lo Ulster Vererans. Day at the National Arboretum Service of Remembrance for all those who died during covid Trip to Cala Bona, Majorca Trip for Widows to Killeshin Hotel Afternoon Tea for widows and retired Memorial service at Hydebank Wood Memorial Garden Christmas Shopping Trip to Manchester Christmas Dinner, Royal Courts Hotel. Portrush Carol service at St Annes Cathedral Christmas Dinner. Belfast Royal Golf Club Christmas Dinner. Tandragee Golf Club Widows Trip to Killyhevlin, Enniskillen In addition, our local committees conknnue to work in each establishment to look after the needs of serving staff. Financlal review Incoming resources for the period totalled £387,227 (2023.. £379.023. Resources of £397,67812023= £379.678} were expended, resulting in a deficit for the period of £10,451 and a net asset position of £1,454,980.
Page 4 NIPSCBF Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (continuedj Year ended 31 March 2024 Plans for future periods The charity will continue to build on the success to date in the coming year by continuing to support its charitable activities. On 30th September 2020, the charity was incorporated and the assets and liabilities of the entity were transferred in their entirety to a charitable company limited by guarantee, NIPSCBF. registered in Northem Ireland. Small company provisions This report has been prepared in accordance with the provisions applicable to Gompanies entitled to the small companies exemption. The trustees, annual reporl was approved on 1 September 2024 and signed on behalf of the board of trustees by: J Simpson Trustee
Page 5 NIPSCBF Company Limited by Guarantee Independent Examinerfs Report to the Trustees of NIPSCBF Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of NIPSCBF ('the charity'} for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the company {and also tts directors for the purposes of company law} you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northem Ireland) 2008 {the '2008 Act.) and the Companies Act 2006 ('the 2006 Act,). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Acl. In carying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65{9){b) of the 2008 AGt. Independent examinerfs statement Since the charity's gross income exeded £250,000 your examiner must be a member of a body listed in section 65 of the 2008 Act. I confimi that l am qualified to undertake the examination because l am a member of Chartered Accountants Ireland, which is one of the listed bodies. I have Gompleted my examination. I confirm that no matters have corne to my attention in connection with my examination giving me cause to believe that in any material respect= accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act. or the financial statements do not accord with those records,. or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair. view which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Elaine Mulholland on behalf of Johnston Graham Limited Independent Examiner 2161218 Hol00d Road Belfast BT4 1PD
Page 6 NIPSCBF Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Unrestricted funds Total funds 2023 Total funds Note Income and endowments Donations and legacies Charitable activities Investment income 360.346 26.784 97 360,346 26,784 97 352.750 26.226 47 Total income 387.227 387,227 379.023 Expenditure Expenditure on charitable activtties Other expenditure Total expenditure 397,678 397.678 430,015 {171,300) 258,715 397.678 397,678 Net (expenditurejlincome and net movement in funds (10,451) (10,451) 120,308 Reconciliation of funds Total funds brought forward Total funds carried fonvard 1.465,431 1,465,431 .1,454,980 1,345.123 1,454.980 1,465,431 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. lls&L The notes on pages 9 to 15 forn) part of these financial ststements.
Page 7 NIPSCBF Company Limited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets 15 1,267,513 1.316,211 Current assets Debtors Cash at bank and in hand 16 43,653 149,570 43,530 111.512 193,223 155.042 Creditors: amounts falling due within one year Net current assets 17 5,756 5,822 187,467 1,454,980 149,220 Total assets less current liabilities 1.465,431 Funds of the charlty Unrestricted funds 1,454,980 1,465,431 Total charity funds 18 1,454,980 1.465.431 For the year ending 31 March 2024 the charity was entiued to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies. regime. These financial statements were approved by the board of tnjstees and authorlsed for issue on 1 September 2024, and are signed on behalf of the board by: J Simpson Trustee The notes on pages 9 to 15 fomi part of these financial statements.
Page 8 NIPSCBF Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operating activities Net (expenditureyincome (10,451) 120,308 Adjustments for." Depreciation of tangible fixed assets other interest receivable and similar income Gains on disposal of tangible fixed assets 48,698 (97) 54,334 (47) {171,3001 Changes in.. Trade and other debtors Trade and other creditors Cash generated from operations (123) {66) 37,961 {323) 156 3.128 Interest received Net cash from operating activities 97 47 38,058 3,175 Cash flows from investing act5Vities Purchase of tangible assets Proceeds from sale of tangible assets Net cash used in investing activities (374,583) 255,000 (119,583) Net increasel(decrease) in cash and cash equivalents Cash and cash equivalents at beginnTng of year Cash and cash equivalents at end of year 38,058 111,512 {116,4081 227,920 149,570 111,512 The notes on page$ 9 to 15 forni part of these financial statements.
NIPSCBF Page 9 Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General inforniatlon The charity is a public benefit entty and a private company limited by guarantee, registered in N.Ireland and a registered charity in Northem Ireland. The address of the registered office is HM Prison Maghabery Old Road. Upper Ballinderry, Lisbum. Antrim. BT28 2PT. Statement of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (Charilies SQRP {FRS 1021) and the Companies Act 2006. Accounting pollcies Basis of preparation The financial statements have been prepared on the historical cosl basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charty's ability to continue. Fund accounting Unrestricted funds are available for use at the discretion of the trusteès to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the tnjslees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of two sub-classes: restricted income funds or endowment funds.
Page 10 NIPSCBF Company Limited by Guarantee Notes to the Financial Statements (eontsnuedj Year ended 31 March 2024 Accounting policies (Continued) Incomlng resources All incoming resources are included in the statement of financial activities when entitlement has passed lo the charity- it is probable that the economic benefils associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income= income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless Ihis is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received rf the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is reGognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incued. Expendilure includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-Gharitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither lated to raising funds for the harity nor part of its expenditure on charitable activtties. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and Gonsistent basis. Tanglble assets Tangible assets are initially recorded al cost, and subsequently stated at cost less any accumulated depreciation and impaimient losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent acGumulated impaimient losses.
Page 11 NIPSCBF Company Limited by Guarantee Notes to the Financial Statements {GonUnued) Year ended 31 March 2024 Accounting policies (ntinUed) Tangible assets {¢ontlnued) An increase in the carying amount of an asset as a result of a revaluation. is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A deGrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except to which il offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows= Freehold property 2 % straight line Long leasehold property 20/0 Straight line Fixtures and fittings 100/0 Straight line Equipment 10 % straight line Impairnient of fixed assets A review for indicators of impaimient is carried out al each reporting date, with the recoverablè amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identrfiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination. irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost.
NIPSCBF Page 12 Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Accounting policies (continued) Financlal instruments (continuedj Where investments in shares are publicly traded or their fair value can otherwise be measured reliably. the investrnent is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including dertvatives, are initially recognised at fair value. unless payment for an asset is deferred beyond nomial business temis or financed at a rate of interest that is not a market rate. in which case the assel is measured at the present value of the future payments discounled at a market rate of interest for a similar debt instrument. Other financial inslruments are subsequentty measured at fair value, with any changes recognised in the statement of financial acts'vities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impaiment, an impaimient loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance. and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does nol result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Limited by guarantee The company is limited by guarantee and has no authorised or issued share capital. Donatlons and legacles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Subscriptions Retiree Donations Covenant Rebate Donations Events and Excursions Contributions to payroll 100.437 58.260 43.748 3,287 58.614 96,000 100.437 58,260 43.748 3.287 58.614 96.000 100,144 56,071 43,361 2,015 55.159 96,000 100,144 56,071 43,361 2,015 55,159 96,000 360.346 360,346 352,750 352,750
Page 13 NIPSCBF Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2024 Charitable activltles Unr8Stricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Other income from charitsble activities type 1 26,784 26,784 26,226 26,226 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable type 1 97 97 47 47 Expenditure on charltable actlvities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Charitable Activities 397,678 397,678 430,015 430,015 Expenditure on charitable activitles by activlty type Activities undertaken Total funds direcuy 2024 Total fund 2023 Charitable Activities 397,678 397,678 430,015 10. Other expendlture Unrestricted Total Funds Unrestricted Tolal Funds Funds 2024 Funds 2023 Loss on disposal of tangible fixed assets held for charity's own use (171,300) (171.300) 11. Net (expendlture)nncome Net (expenditureyincome is stated after chargingl(crediting): 2024 2023 Depreciation of tangible fixed assets Gains on disposal of tangible fixed assets 48,698 54,334 (171,300)
Page 14 NIPSCBF Company Limited by Guarantee Notes to the Financial Statements (eontlnu¢d) Year ended 31 March 2024 12. Independent examination fees 2024 2023 Fees payable to the independent examiner for- Independent examination of the financial ststements 3,160 2.800 13. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries 138,346 118,784 The average head count of employees during the year was 4 (2023.. 4). No employee received employee benefits of more than £60.000 during the year12023'. Nil). 14. Trustee remuneratlon and expenses No remuneration nor other benefits from employment with the charity were received by the trustees. 15. Tanglble flxed assets Land and Fixtures and buildings fittings Equipment Total Cost At 1 April 2023 and 31 March 2024 DepreclatSon At 1 April 2023 Charge for the year At 31 MarGh 2024 1,744,308 223.936 38,000 2,006,244 431,897 44,898 223,936 34,200 3,800 690,033 48,698 738.731 476,795 223,g36 38,000 Carrying amount At 31 March 2024 1,267,513 1.312,411 1,267,513 At 31 March 2023 3,800 1,316,211 16. Debtors 2024 2023 Other debtors 43,653 43,530
Page 15 NIPSCBF Company Limited by Guarantee Notes to the Financial Statements {tInued) Year ended 31 March 2024 17. Creditors: amounts falling due within one year 2024 2023 Social security and other taxes Other creditors 2,386 3,370 2,450 3,372 5,756 5.822 18. Analysis of charitable funds Unrestricted funds At 31 March 202 At 1 April 2023 Income Expenditure General funds 1.465,431 387,227 (397,678) 1,454,980 At 31 March 202 At 1 April 2022 Income Expenditure General funds 1.345,123 379,023 (258,715) 1,465,431 19. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 1.267.513 193,223 (5,756) 1.454,980 1,267,513 193,223 (5,756) 1,454,980 Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year 1,316,211 155,042 {5.822) 1,465.431 1,316,211 155,042 15,822) 1,465,431 Net assets 20. Analysis of changes in net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand 111.512 38,058 149,570