COMPANY REGISTRATION NUMBER.- N1066239 CHARITY REGISTRATION NUMBER: NIC101726 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS 31 MARCH 2024 CLAREMOUNT FM LIMITED Chartered accountants & statutory auditors 43 Clarendon Street Derry BT48 7ER
SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Page Directors, annual report (incorporaling the director's report) Independent auditorfs report to the members Statement of financial activities (including income and expenditure account) 10 ststement of financial position 11 Statement of cash flows 12 Notes to Ihe financial stalements 13
Page 1 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE DIRECTORS, ANNUAL REPORT {INCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 MARCH 2024 The d1CtOrS, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE DETAILS Registered charity name SURESTART EDENBALLYMORE Charity registration number NIC101726 Company registration number N1066239 Principal office and r8glstered office Lis Linn Centre Central Drive Creggan Derry THE DIRECTORS Ms C Nash Mr G McGowan Mr B McLaughlin Ms A McGuinness Ms C Sweeney Ms J Quigg (Resigned 18th June 2024) (Appointed 25rh July 2024) Auditor Claremount FM Limited Chartered accountants & statutory auditors 43 Clarendon Street Derry BT48 7ER Banker8 AIB Meadowbank Strand Road Derry BT48 9QG Solicitors Mac Dennott McGurk and Partners 12 Clarendon Street Derry BT48 7ET
Page 2 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE DIRECTORS, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued) YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT The company is governed and managed by the board of directors. The directors who served the company throughout the year are shown above. The registered office and details of other professional advisors are listed on page 1. The board of directors carry out their govemance role throughout the year by way of meetings on a bi-monthly basis to review the performance of the company and to make decisions regarding the Company's financial and operational matters. The directors govern the activities of the cornpany in line th the objectives sel out in the governing documents of the charity, namely the Memorandum and Articles of Association and the charity's constitution. OBJECTIVES AND ACTIVITIES The principal activity of the company during the year was to ensure that every child (from pre-birth to 3 years) living in the Triax area (Bogside & Brandywell, Creggan, Fountain, Bishop Street & Foyle Road and Strand Road) is supported to have the best possible stsrt in life. One of the objectives of Surestart Edenballymore is to complement the work of existing local services and provide our families with advice and support to access more specialised need5 or difficulties. There is clear evidence that early intervention and support reduces family breakdown, strengthens children's readiness for school and benefits society as a whole. The Project delivers a wide variety of services which are designed to support children's learning skills, health and well-being, and social and emotional development, with a particular focus on early intervention, infant mental health, bonding and attachment, speech and language, child development and school readiness. Surestart Edenballymore works with parents, agencies and organisations to ensure that loGal children aged 0-3 get the very best start in life by offering free access to.. Family support including hom8-visiting and 5UPPOrt services Early years play and18arning opportunities Advice & support on children's development Speech & Language Support Ante-natal and post-natal s8rvices Health services Community involvement and training opportunities
Page 3 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE DIRECTORS, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued) YEAR ENDED 31 MARCH 2024 ACHIEVEMENTS AND PERFORMANCE The diwtors are satisfied that the performance of the company during the year, in terms of both financial and operational results, is in line with the charity's constitution and key objectives. The table below outlines the annual registratlon and engagement of target children and parents in the Project. it is clear that all targets and goals set have been exceeded, In terms of engagement, registration, support and service dellvery. New Reglstrations Children Mothers Fathers Families Antenatal Q1 Aprun Q2 Jul-sopt 73 70 53 50 15 53 24 Q3 O¢t-Dec Q4 Jan-mar Cumulative 49 51 243 36 59 198 33 200 144 51 37 37 24 59 59 De-Regi8ter8d Children Mothers Fathers Families Antenatal Q1 Apr-Jun Q2 Jul-sept 15 71 53 Q3 Oct.De¢ Q4 Jan-mar Cumulative 46 108 239 43 197 44 199 31 14 88 22 88 14 53 18 45 Total Numbers Reglstered Children Mothers Fathers Families Antenatal Q1 Apr-Jun Q2 Jul-S8pt 862 920 790 832 146 146 799 842 60 63 Q3 Oct-Dec Q4 Jan-mar Cumulatlve 896 901 1034 828 949 164 813 146 824 61 142 836 78 959 170 Percentages Uptske Children Mothers Fathers Families Antenatal Ql Apr-Jun Q2 Jul-sopt 38.63 39.35 52.41 50.36 15.75 50.71 61.90 Q3 Oct.Dec Q4 Jan-mar Cumulative 39.73 32.52 60.83 47.60 51.89 82.72 13.70 9.86 27.44 47.94 52.03 82.69 55.74 58.97 91.18 8.90 62.44 63.33 The Project is on track to achieve World Health Organization and UNICEF Baby Friendly Initiative Status to belter support families with feeding and developing close, loving relationships, ensuring that all bables get the best possible start in lrfe. FINANCIAL REVIEW The net outgoing resources for the year was £9,887 (2023 - net outgoing resources £101). The totsl reserves at the year-end stood at £41,532 (2023 - £61,419) Funding is received every quarter and is generally spent within that quarter. The charity carrie8 minimal reserves due to restrictions imposed by funders.
Page 4 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE DIRECTORS, ANNUAL REPORT {INCORPORATING THE DIRECTOR'S REPORT) (continued) YEAR ENDED 31 MARCH 2024 PLANS FOR FUTURE PERIODS The impact of COVID continues to disrupt life for u5 all and has changed life in many way5 for many people. Child development needs has not paused. and supporting children and families is arguably now more important than ever. Babies bom after March 11 2020 will have only known a world in the grip of a pandemic. They have not had the same opportunities to interact with other children as those born in the years before. We don't yet know the full impact of the pandemic on children, young people and their families, but we are seeing an increase in demand for services as we move into the next phase. So, whi18t th8 future remains uncertain, our commitment to provide responsive and high quality services and supports for families remains steadfast and we are confident in our staff team, partners and community that we can continue to give children the best start in life. The directors will continue to govern the company in line with the ¢on5titution to achieve the objectives noted above. TRUSTEES. RESPONSIBILITIES STATEMENT The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the financial statements in accordance wth applicable law and Unlted Kingdom Accounting Standards (United Kingdom Generally A¢¢epied Accounting Practice). Company law requires the charity directors to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to- In preparing these financial ststements, the directors are required to- select suitable aGGounting policies and then apply them consistently- observe the methods and prin¢iple5 in the applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudent., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements compty with the Companies Act 2006. They are also responsible for safeguardlng the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE DIRECTORS, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued) YEAR ENDED 31 MARCH 2024 AUDrroR Page 5 Each of the persons who is a trustee at the date of approval of this report confirms that: so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware., and they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The auditor is deemed lo have been re-appointed in accordance with section 487 of the Companies Act 2006. SMALL COMPANY PROVISIONS This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The directors, annual report was approved on 26th September 2024 and signed on behalf of the board of trustees by.. Ms C Nash Director Mr G McGowan Chairperson
Page 6 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SURESTART EDENBALLYMORE YEAR ENDED 31 MARCH 2024 OPINION We have audited the financial statements of Surestart Edenballymore for the year ended 31 March 2024 which comprise the statement of financial activities (including income and expenditu account), statement of financial position, statement of cash flows and the related notes, including 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 ta 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 them in an audllols report and for no other purpose. To the fvllest extent permitted by law, we do not accept ar assume responsibility to anyone other than the charity and th8 charivs members as a body, for our audit work, for this report, or forthe opinions we have formed. In our opinion the financial statements: give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in acrdanCe with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities- and have been prepared in accordance with the requirements of the Companies Act 2006. BASIS FOR OPINION We conducted our audit in accordance with Intemational Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the audito¢s responsibilities for the audit of the financial ststements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial ststements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilrties 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 In auditing the financial statements, we have concluded that the directors, use of the goir,g concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identtfied any material uncertainties relating to events or condltions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibiliiies of the directors with respect to going concem are described in the relevant sections of this report.
Page 7 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SURESTART EDENBALLYMORE (continued) YEAR ENDED 31 MARCH 2024 OTHER INFORMATION The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. 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 infomiation is materially inconsistent with the finanGial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistenGies or apparent material misstatements, we a required to determine whether there 15 a material misstatement in the financial statements or a material misstatement of the other infomiation. 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 Ihis 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.. the information giv8n in the trustees, report for the financial year for which the financial ststements are prepared is consistent with the financial statements., and the trustees, report has been prepared in accordance with applicable legal requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identlfied material misstatements in the directors, report. W& have nothing to report in respect of the following matters in relation to which the Companies Act 2006 qUireS us lo 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 retums,. or certain disG105ures of directors. remuneration specified by law are not made., or we have not received all the information and explanation5 we require for our audit-, or the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. RESPONSIBILITIES OF DIRECTORS As explained more fully in the directors, responsibilities statement, the directors (who are also the directors for the purposes of company 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 afe free from material misslatement, whether due to fraud or error. In preparing the financial statements, the directors 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 concem basis of accounting unless the directors erther intend to liquidate the charity or to ase operations. or have no realistic alternative but to do so.
Page 8 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SURESTART EDENBALLYMORE (continued) YEAR ENDED 31 MARCH 2024 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 ISA$ (UK) will always detect a material misstatement when it exists. Misstatements C8n 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. Irregularities, including fraud, are instances of non-compllance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud 18 detailed below. However, the primary responsibility for the prevention and dete¢ts'on of fraud rests with both management and those Charged with governance of the charitable company. We assessed the susceptibilty of the charitable company's financial statements to material misstatement, including how fraud might occur, including evaluating management's incentives and opportunities to manage earnings or influence the reported results. In common with all audits under ISAS {UK), we are required to perform specific procedures to respond to the risk of management override. As part of an audit in accordance wth ISAS (UK), exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive lo those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a materlal misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circuMstans. but not for the purpose of expressing an opinion on the effectiveness of the intemal control. Enquire of management, those charged with governance and the Charity's solicitor around actual and potential litigation and claims. Perform analytical procedures to identify any unusual or unexpected relationships that may indicate rlsks of material misstatement due to fraud. Review mlnutes of meetings of those charged with governance. Evaluate the appropriateness of accounting poiicies used and the reasonableness of accounting estimates and related disclosures made by the directors. Conclude on the appropriateness of the dIreorS, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast signrficant doubt on the charity's ability to continue as a going concem. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our audltor's report. However, future events or conditions may Cause the charity to cease to continue as a going concem. Evaluate th8 OV8rall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SURESTART EDENBALLYMORE (continued) YEAR ENDED 31 MARCH 2024 We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Page 9 Mr G G Heaney (Senior Statutory Auditor) For and on behalf of Claremount FM Limited Chartered accountants & statutory auditors 43 Clarendon Street Derry Northern Ireland BT48 7ER 26th Saptember 2024
Page10 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) 31 MARCH 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Charitable activitles 666,450 666,450 648.594 Total Income 686,450 666.450 648,594 Expendlture Expenditure on charitable activities 676,337 676,337 648,695 Total expendlture 676,337 676,337 648,695 Transfer between funds (8,516) 8,516 Net 8xpenditur8 and net movement in funds (8,516) (1,371) {9,887) (1011 Reconciliation of funds Total funds brought forward 15,825 35,594 51,419 51,520 Totsl funds carrfed forward 7,309 34,223 41,532 51,419 The statement of financial activities includes all gains and losses recognised in the year JI income and expenditure derlve from continuing activities. The notes on pages 13 to 23 forni part of these financial statsments.
SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE Page 11 STATEMENT OF FINANCIAL POSITION 31 MARCH 2024 2024 2023 FIXED ASSETS Tangible fixed assets Note 11 34,223 45,605 CURRENT ASSETS Cash at bank and in hand 22,574 23,260 CREDITORS: amounts falling due within one year NET CURRENT ASSETS 12 15,265 17,446 7,309 5,814 TOTAL ASSETS LESS CURRENT LIABILITIES 41,532 51,419 NET ASSETS 41,532 51,419 FUNDS OF THE CHARITY Restricted funds Unrestricted funds 32,223 7,309 35,594 15,825 Total charity funds 13 41.532 51,419 These financial statements were approved by the board of trustees and authorised for issue on 26th September 2024 and are signed on behalf of the board by; Ms C Nash Director Mr G McGowan Chairperson Company Registration Number: N1066239 The notes on pagos 13 to 23 form part of these flnancial statements.
Page 12 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2024 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES Net Income (Expenditure) {9,887} (101) Adjustments for.. Depreciation of tangible fixed assets Loss on Disposal of tangible fixed assets A¢¢rued Expensesl (income) 11,308 74 (543) 14,885 441 2.883 Changes in.. Trade and other debtors Trade and other ueditors (1.638 264 Cash generated from operatlons (686) 18,342 Net cash from operatlng activities 686) 18,342 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of tangible assets (16,452) Net cash used in investing activities {16,452) NET INCREASEI(DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 1686) 23,260 1.890 21,370 CASH AND CASH EQUIVALENTS AT END OF YEAR 22.574 23,260 The notos on pages 13 to 23 fonn part of these financial statements.
Page 13 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 General information The charity is a private company limited by guarantee, registered in Northern Ireland and registered charity in Northern Ireland. The address of the registered office is Lis Linn Centre, Central Drive, Creggan, Derry. Statement of compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, th& Statement of Recommended Practice applicable to charities preparing their a¢¢ounts in acrdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP {FRS 102)) and the Charities Ad (Northern Ireland) 2008. Accountlng pollcies Incoming resources from generated funds consists of donations and other income received from a variety of sources. Such in¢ome is usually recelved with no preconditions attached and is recognized in the SOFA when received. Incoming resources from charitable activities consists of grants received from various funding bodies to assist the charity in achieving its objectives. Grants of this nature are recognized in the SOFA when the ¢harity is legally entitled to the income and all preconditions for recelpt of the funds have been met. Basis of preparallon The financial ststements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expendlture. The financial statements are prepared in sterling, which is the functional currency of the entity. Going ¢on¢em There are no material uncertainties about the charity's ability to continue.
Page 14 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024 Accounting policies (continued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the directors for particular fLrture project or commitment. RestrFCted 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 SUClasSes.. restricted income funds or endowment funds. Incoming rosources All incoming resource5 are included in the statement of financial activities when entitlement has passed to the charity.. it is probable that the economic beneffts 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 gfft, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is estsblished. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilits-es 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 recognised with the delivery of the contracted service. This is classified a5 unrestricted fvnds unless there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent. in which case it may be regarded as restricted. Resources expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. %ere costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Staff costs have been allocated on the basis of time spent on each of the main activities of the charity, which are.. Charitable activities {those activities associated with the charity's objects). Governance costs (management and administration of the charity)
Page 15 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024 Accountlng policies (continued) Tangible assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairment 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 aGcumulated impairment losses. 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 ststement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to tch it offsets any previous revaluation gain. in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Dèpreciatlon 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- Creche Fixiures and Fitting5 Fixtures and Fittings Motor Vehicles Office Equipment 25% straight line 120h reducing balance 200/¢+ Straight Ilne 250kn straight line Impalmient of fixed assèts A review for Indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Vvhere the carying 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 impainnent testing, when it is not possible to estimate the recoverable amount of an individual asset, an ests.mate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable 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 Gombination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefft 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 liabilty is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments ar8 initially recognised at the amount receivable or payable including any related transactlon costs. Current assets and current liabilities are subsequently measured at the cash or other Consideration expected to be paid or received and not dlscounted. Debt instruments are subsequently measured at amortised cost.
Page 16 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024 Accounting policies (continued) Financial instruments (continued) Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment 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 derivatlV8s, are initially recognised al fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities. with the exception of hedging instruments in designated hedging relationship. Financial assets that are measured at cost or amortised cost are vieWed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impalrment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equlty 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 rxedit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not 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. therefore, there is no issued share capital. Every member of the Company undertakes to contribute to the assets of the company in the everrt of it being wound up during a period in which they are still a member of the company. including a period of one year from the date that they ceased to be a member, providing the debts were incurred during their period as a member of the company or the debt relates to costs and expenses of a wlnding up. The liability of each member in such circumstances is limited lo £1.
Page 17 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024 Charitsble activities Restricted Total Funds Funds 2024 Restricted Total Funds Funds 2023 SPPGIDOH DFC Donations and sundry income 646,683 5,144 14,623 646,683 5.144 14.623 642,093 642,093 6,501 6,501 666,450 666,450 648,594 648,594 Other GRnt income includes funding received from Glasspool and the Family Fund on behalf of families. Expenditure on charitablo activities by fund type Restricted Total Funds Funds 2024 Restricted Total Funds Funds 2023 Wages & salaries Creche support 2 year old programme costs Miscellaneous programme costs Promotion costs Staff training & course8 Staff Development & Well-belng Repairs & maintenance Cleaning & consumables Minibus running costs Telephone & internet Postage & stationery HR advisory & support service Membership and Subscriptions Travel expenses Rent- Office & Programme rooms Rent- Gasyard Programme rooms Rent- Creche IOLTI Heat, light & utilities Insurance Accountancy fees Auditors remuneration Depreciation charge Loss on disposal of FA Bank charges Support Costs - Wages and Salaries 400,240 1,051 17,968 39,335 8,404 1,326 2,423 20,125 1,258 3,797 8,505 12,112 3240 1,587 727 18.600 7,711 9,500 9,830 4,157 1,580 1,560 11,308 74 627 89,312 400,240 1,051 17,968 39,335 8,404 1.326 2,423 20.125 1,258 3,797 8,505 12,112 3240 1,587 727 18,600 7,711 9,500 9,830 4,157 1,560 1,560 11,308 74 627 89,312 401,940 1,498 15,807 28,498 7,550 3,909 4,683 4,004 284 4,957 7,254 7,893 900 1,825 1,160 19,900 7,958 9,630 10,883 3,783 1,560 1,560 14,855 441 543 85,420 401,940 1.498 15,807 28,498 7,550 3,909 4,683 4,004 4,957 7.254 7,893 900 1,825 1,160 19,900 7,958 9,630 10,883 3.783 1,560 1,560 14,855 441 543 85,420 676,337 676,337 648,695 648,695
Page 18 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024 Expenditure on charilable aGtivities by activity type Core 2 Year Old Programmes Programme Support costs Total Funds 2024 Wages & salaries Creche support 2 year old programme costs Miscellaneous programme costs Promotion costs Staff trainlng & courses Staff Development & Welkbeing Repalrs & maintenance C18aning & consumables Mlnibus running costs Telephone & internet Postage & stationery HR advisory & support service Membership and Subscriptions Travel expenses Rent - Office & Programme rooms Rent- Gasyard Programme rooms Rent- Creche (OLT) Heat, light & utilities Insurance Accountancy fees Auditors remuneration Depreciation charge Loss on disposal of FA Bank charges Support Costs - Wages and Salaries 213,994 1,051 186.246 400,240 1.051 17.968 39.335 8,404 1,326 2,423 20,125 1,258 3.797 8,505 12.112 3240 1,587 727 18.600 7.711 9,500 9,830 4,157 1.560 1.560 11.308 74 627 89,312 17,968 39,335 8,404 1,326 2,423 5,888 1,168 3,797 8,505 12,112 3240 1,587 727 18,600 14,237 90 7,711 9,500 9,830 4,157 1,560 1,560 11,308 74 627 89,312 357,653 226,252 92,432 676,337
Page 19 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities by activity type Core 2 Year Old Programmes Programme Support costs Total Funds 2023 Wages & salaries Creche support 2 year old programme costs MIS118neQuS programme costs Promotion costs Staff training & courses Staff Development & Well-being Repairs & maintenance Cleaning & consumables Minibus running costs Telephone & internet Postage & stationery HR advisory & support service Membership and Subscriptions Travel expenses Rent - Office & Programme rooms Rent - Gasyard Programme rooms Rent- Creche (OLT) Heat, light & Lrtilities Insurance Accountancy fees Auditors remuneration Depreciation Gharge Loss on disposal of FA Bank charges Support Costs - Wages and Salar5 230,942 1,498 170,998 401.940 1.498 15,807 28,498 7,550 3.909 4,683 4.004 284 4,957 7,254 7,893 900 1,825 1,160 19,900 7,958 9.630 10.883 3.783 1,560 1,560 14,855 441 543 85A20 15,807 28,498 7,550 3,909 4,683 954 3,050 4.957 7,254 7,893 900 1,825 1.160 19,900 7.958 9,630 10,883 3,783 1,560 1,560 14,855 441 543 85,420 362,058 198,097 88,540 648,695
Page 20 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (contlnued) YEAR ENDED 31 MARCH 2024 Auditors, remuneration Year to Year to 31 Mar 24 31 Mar 23 Fees payable to the Auditor for. Audit of the ffinancial statements 1,560 1,560 Preparation of the financial statements 1.560 1,560 3.120 3,120 Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows- 2024 2023 Wages and salaries 489.552 487.360 489,552 487,360 The average head count of employees during the year was 31 {2023: 31). The average number of full-time equivalent employees during the year is analysed as follows= 2024 No. 2023 Number of staff - Programme Delivery Number of staff - Support Costs 24 24 31 31 No employee received employee benefits of more than £60,000 during the year {2023.' Nil).
Page 21 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024 10. Trustee remuneratlon and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 11. Tangible fixed assets Creche Fixtures & Fittings Office Fixtures and Equipment fittings Motor vehicles Total Cost At 1 April 2023 Disposals At 31 March 2024 54.196 {2.420} 51,776 48,503 (1,811) 46,692 37,692 44.908 (4.178) 40,730 185.299 (8,409) 176,890 37,692 Depreciation At 1 April 2023 Charge for the year Disposals At 31 March 2024 39,357 6,711 12,420) 43,648 27,294 2,686 (1,737) 28,243 28,135 1,911 44,908 139,694 11,308 (8,335) 142.667 <4,178) 40,730 30.046 Carrying amount At 31 March 2024 8,128 18,449 21,209 7,646 34,223 At 31 March 2023 14,839 9,557 45.605 12. Creditors: amounts falling due within one year 2024 2023 Accruals and deferred income Social security and other taxes 10,364 4,901 10,907 6,539 15,265 17,446
Page 22 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024 13. Analysis of charitable funds Unrestrlcted funds Transfer At Income Expenditure btheen funds 31 March 2024 At 1 April 2023 Unrestricted fund 15,825 {8,516) 7,309 Restrfcted funds Transfer At Income Expenditure beeen funds 31 March 2024 At 1 April 2023 Restricted Fund 35.594 666.450 (676,337) 8,516 34,223 14. Related partles The director of the company listed below is also involved with other charitable organisations, as follows.. Director Mr G McGowan Organisation Old Library Trust The transactions that arose during the year ended 31 March 2024 were as follows.. Organisation Old Library Trust Details of payments mado Rental and service charges 37,260
Page 23 SURESTART EDENBALLYMORE COMPANY LIMITED BY GUARANTEE NOTES TO THE DETAILED STATEMENT OF FINANCIAL ACTIVITIES 31 MARCH 2024 15. SPPGIDOH -Funding 2024 Restricted funds Total fund5 Total funds 2023 Unrestricted funds Note Income per Accounts SPPGIDOH 646,683 646,683 642.093 Total income 646,683 646,683 642.093 Expenditure per Accounts 2 Year Old Wages & salaries 2 year old programme costs Repairs & maintenance Cleaning & consumables Rent- Gasyard Programme rooms Core Wages & salaries Telephone & inlernet Staff training & courses Staff Development and well-being Travel expenses Rent- Office & Programme rooms Rent- Creche (OLT) Heat, light & utilities Membership and Subscriptions Bank charges Minibus running costs Postage, stationery, IT & Office Equipment Promotion costs Repairs & maintenance HR advisory & support service Creche support Miscellaneous programme costs Depreliation Accountancy fees Auditors. remuneration Insurance 186,246 17,976 14,237 90 7,711 186,246 17,976 14,237 170.998 15,807 3.050 7,711 7,958 298,499 8,505 1,326 2,423 727 18,600 9,500 9,830 1,587 514 3,797 12,112 8,404 5,888 3,240 298,499 8,505 1,326 2,423 727 18,600 9,500 9,830 1,587 514 3,797 12,112 8,404 5,888 3,240 316,362 7,254 3,909 4,683 1,160 18,600 9,630 10,883 1,825 446 4,957 7.893 7,550 953 900 666 23,061 14,855 1,560 1,560 3,783 28,194 11,308 1,560 1,560 4,157 28,194 11,308 1,560 1,560 4,157 Total expenditurn 657,991 657,991 640,587 Less adjusting non•cash items Depreciation 11,308 11,308 14,855 646,683 646,683 14,855 Add Capltal Expendituro Fixed Asset Additions 16,453 Actual Expenditurn 646,683 646,683 642,185