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2023-03-31-annual-return

Company Registration Number: NI020310 HMRC Charity Registration Number: XN86071 The Charity Commission for Northern Ireland Registration Number: NIC102064

SENTINUS

(a company limited by guarantee)

Report and Financial Statements for the year ended 31st March 2023

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

SENTINUS

Company Information for 2023/2024

Trustee / Directors Tanya Hedley (chair)
Elizabeth Ackah
Tom Edgar
James Moore
Roy McBrine
Neil McIlwaine
Raymond Pollock
Aaron Portis
Company Secretary William Connor MBE
Company Number NI020310
Registered Office 19a Ballinderry Road
Lisburn
Co Antrim
BT28 2SA
Auditors Diamond & Skillen
Chartered Accountants and Registered Auditor
Sinclair House
89/101 Royal Avenue
Belfast
BT1 1FE
Bankers Ulster Bank Ltd
11/16 Donegall Square East
Belfast
BT1 5UB
Solicitors Cunningham and Dickey
68 Upper Church Lane
Belfast
BT1 4LG
Chief Executive William Connor MBE

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

SENTINUS

Contents

Page (s)
Report of the Trustee / Directors 1 - 4
Independent Auditors’ Report 5 - 6
Statement of Financial Activities 7
Statement of Financial Position 8
Notes to the Financial Statements 9 - 14
The following page does not form part of the statutory financial statements:
Detailed Income and Expenditure Account 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

SENTINUS

Report of the Trustee / Directors for the year ended 31st March 2023

The Trustees (who are also the Board of Directors of the company) are pleased to submit their annual Directors’ Report together with the audited financial statements of the charitable company for the year ended 31[st] March 2023. The financial statements have been prepared in accordance with Accounting and reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) and also to meet the requirements for accounts for the purposes of The Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Sentinus is a private company limited by guarantee, registration number NI020310, and is also a registered as a charity with HM Revenue & Customs (number XN86071). Sentinus is registered as a charity with the Charity Commission for Northern Ireland (registration number NIC102064). The present Trustee / Directors, and any past Trustee / Directors who served during the year, are given on page 3, together with the names of the charity’s external advisors.

STRUCTURE, GOVERNANCE AND MANAGEMENT

General

Sentinus is governed by its Memorandum and Articles of Association adopted on 23rd March 1987, amended 3rd December 1987 to reflect current governance arrangements and amended 4th May 2001 for change of company name. The company adopted a new Memorandum and Articles of Association on 19th January 2015 in accordance with guidance issued by the Charities Commission for Northern Ireland. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Trustee / Directors

Each Trustee of the company sits on the Board of Directors. This Board is responsible for the overall governance of the Company. Trustee / Directors are appointed by the Chairman. The total number of trustee / directors shall not be subject to any maximum but shall not be less then two.

The Board delegates the exercise of certain powers in connection with the management and administration of the Company to the Chief Executive. This is controlled by regular reporting back to the Board, so that all decisions made under delegated powers can be ratified by the full Board in due course.

The Chief Executive is responsible for the day-to-day management of the company’s affairs.

The company adopted a Governance Framework which was implemented in March 2008.

Statement of Trustee / Directors’ Responsibilities and Corporate Governance

The Trustee / Directors are responsible for ensuring that the Company produces proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that:

Internal controls over all forms of commitment and expenditure continue to be reviewed to improve efficiency.

Processes are in place to ensure that performance is monitored and the appropriate management information is prepared and reviewed on an ongoing basis by executive management and quarterly by the Board of Trustee / Directors.

The systems of internal control are designed to provide reasonable but not absolute assurances against material misstatement or loss. They include:

In accordance with company law the Directors certify that:

cont’d.../

Page 1 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

SENTINUS

Report of the Trustee / Directors for the year ended 31st March 2023 (cont’d)

Risk Management

During the year the Directors have considered and examined the major risks that face the charity and established strategies that will mitigate the impact they may have on the charity’s future. This process will be continued on an ongoing basis for each financial year.

Public Benefit Report

OBJECTS, OBJECTIVES AND PRINCIPAL ACTIVITIES OF THE CHARITY

In accordance with the Memorandum of Association the objects for which the Company is established are: Promotion and participation in liaison activities between industry and education. The strategies employed to achieve the company’s objectives included:

PUBLIC BENEFIT REPORT

PUBLIC BENEFIT REPORT
Purposes of the Charity The purpose of the Company is to advance the theoretical and practical education of young people in Northern
Ireland in science, technology, engineering and mathematics and promote greater understanding of industry, its
essential role and service to the community and economy and encourage the establishment and development of
partnerships between industryand education.
What the Charity has
done during the year
to carry out its
purposes?		 In the early part of the financial year the impact of the Covid-19 pandemic continued to have an impact on the work
of the charity, with schools slow to return to normal operating conditions. However, as the year progressed, and by
September, the situation had returned to normal and much face to face interaction with beneficiaries took place from
that point forward. Sentinus continued to engage beneficiaries in curriculum relevant activity in science, technology,
engineering and maths which helped them understand the importance of the STEM subjects and the impact of
science and engineering on the modern world.
Programmes delivered included:
·
Research & development projects;
·
Research projects;
·
Insight and careers programmes;
·
Celebration events for STEM project work;
·
STEM roadshows and challenges;
·
STEM workshops;
·
Provision of STEM resources and materials to support learning in STEM subjects.
In 2022-23 Sentinus worked with a total of 523 primary, post primary and special educational needs schools,
engaging 56,379 young people, between the ages of 5 and 19 years. These outputs included 403 STEM workshops,
involving 20,209 pupils 62 Employability Skills road shows involving 14,095 students. A total of 1,646 teacher
engagements tookplace.
How have the activities
provided benefit to its
beneficiaries and how
can this be
demonstrated - the
achievements of the
Charity?		 The direct benefits to beneficiaries from the activities of the Charity include:
·
improved scientific and technological skills and knowledge, allowing them to maximise learning in science
and technology and understand the relevance of the STEM subjects to the world of work;
·
contextualisation of learning in STEM subjects;
·
increased awareness and understanding of the importance of the STEM subjects and their value to
potential employers;
·
increased awareness of career opportunities within the STEM sector in Northern Ireland;
·
enhanced ability for beneficiaries to make informed career decisions;
·
enhanced interpersonal and employability skills.
These benefits can be demonstrated through direct feedback from both teachers and young people involved in the
programmes.
How has the Charity
mitigated any harm
flowing from its
purposes?		 No harm flowed from the purposes of the Charity.
How has the Charity
ensured that any
private benefit has
been incidental to the
public benefit?		 No private benefit flowed from the Charity’s activities.
Statement of
compliance with the
duty to have regard to
the Commission’s
guidance		 In setting our objectives and planning our 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 purpose and provide a benefit to the beneficiaries.

cont’d.../

Page 2 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

Report of the Trustee / Directors for the year ended 31st March 2023 (cont’d)

SENTINUS

ACHIEVEMENTS AND PERFORMANCE

SENTINUS STATISTICS 2022/2023

ACHIEVEMENTS AND PERFORMANCE
SENTINUS STATISTICS 2022/2023
2023 2022
Numbers of Pupils Involved 56,379 43,817
Numbers of Schools Involved 523 515
Numbers of Teachers Engagements 1,646 457
Numbers of EmployabilitySkills Roadshows 62 44
Numbers of Pupils Participatingin EmployabilitySkills Programmes 14,095 2,384
Numbers of STEM Roadshows 403 357
Numbers of Pupils Participatingin STEM Roadshows 20,209 13,090

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

The Statement of Financial Activities on page 7 is designed to reflect all incoming resources receivable in the year irrespective of when income is actually received. Total incoming resources for the year amounted to £458,256 (2022: £599,360). Total resources expended (including depreciation of fixed assets) of £495,512 (2022: £529,026) resulted in net outgoing resources for the year of £37,255 (2022: net incoming resources of £70,334). There is no balance on restricted funds at the end of the year. The total balance on unrestricted funds at the year end was £959,920 (2022: £997,175) which is free and represents the reserves available to the Directors to help fulfill current and future plans.

RESERVES POLICY

Introduction

Financial reserves offer a mechanism to retain surpluses which are not distributed or spent shortly after an accounting year end, but rather retained to allow for any future reductions in income or unanticipated expenditure not provided for in annual budgets. The Charity Commission for Northern Ireland requires that trustees recognise the reserves issue, assess the needs of the entity, seek to reach an appropriate level within a reasonable time scale and report their reserves policy in the annual report accompanying the financial statements. Reserves do not include capital assets or funds which are restricted in use by conditions imposed by the donor.

The Charity Commission requires that trustees recognise the reserves issue, assess the needs of the entity, seek to reach an appropriate level within a reasonable timescale and report their reserves policy in the annual report accompanying the accounts.

Income

Currently a core grant from the Department of Education represents more than 50% of Sentinus’ income, with the remaining being generated from a wide range of other sources. If income from any of these sources, and in particular the Department of Education, reduced significantly Sentinus would experience financial difficulties. If the fall was of a temporary nature caused by a delay in reviewing contractual arrangements, then reserves would be needed to cover the income lost during the temporary period.

Expenditure

Trustees should consider the pattern of Sentinus’ expenditure and the need for reserves to cover that expenditure in the event of a serious shortfall in income.

An immediate reduction in programme delivery may be possible for some projects. Other contracts, however, represent longer term commitments and would, therefore, be more difficult to terminate.

Certain costs are of a fixed nature in the short to medium term and will continue to be incurred regardless of the level of activity. The largest element of ‘fixed’ expenditure will be employee costs, followed normally by accommodation costs.

Assessment of Reserves Level

In determining the level of reserves required, it is necessary to assess how long it would take to wind up Sentinus and the cost to run it during this period, assuming a major fall in its level of income such that it no longer remained viable to continue to operate.

Allowance would also need to be made for termination costs such as redundancy and early settlement of leases and any legal and other professional fees arising during this process.

The trustees deem it prudent to set aside reserves representing approximately twelve months full costs and a provision for winding up the company to account for costs such as redundancy, leases outstanding on premises and any other contractual financial commitment. Reserves should be at least this level to ensure the charity can run efficiently and meet its legal requirements. Factors taken into account would include the need to cover fluctuations in income, current liabilities and unplanned expenditure.

The trustees calculate that the overall reserve provision as at 31st March 2023 should be no less than £857,581 (2021: £965,649).

The actual reserves at 31st March 2023 were £959,920 (2021: £997,175) which is £102,339 above the company’s target minimum and c.111.9% (2022: 103.25%) of that minimum figure. Trustees will closely monitor the actual reserves each year to ensure they are maintained at an appropriate level.

cont’d.../

Page 3 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

SENTINUS

Report of the Trustee / Directors for the year ended 31st March 2023 (cont’d)

PLANS FOR FUTURE PERIODS

The company plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements.

DIRECTORS

The directors who served during the year were: directors who served during the year were:
E Ackah
C Cunningham (resigned 1/11/22)
T Edgar
T Hedley
V Jordan (resigned 1/11/22)
J Moore
R McBrine
N McIlwaine
R Pollock
A Portis
J Stewart (resigned 1/11/22)
The following were in attendance at Board Meetings during the year
W Connor Chief Executive and Statutory Company Secretary

AUDITORS

Diamond & Skillen were appointed auditors to the company and are deemed to be re-appointed in accordance with Section 487(2) of the Companies Act 2006.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

By order of the Board

_______ Tanya Hedley - Chair of Directors 14th June 2023

Page 4 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

SENTINUS

Independent Auditors’ Report to the members of SENTINUS

Opinion

We have audited the financial statements of Sentinus (the ‘Charity’) for the year ended 31st March 2023 which comprise the Statement of Financial Activities, the Statement of Financial Position and the 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 Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

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 Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 19 to the financial statements, 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 the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual 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 the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report [including the Strategic 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:

cont’d.../

Page 5 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

SENTINUS

Independent Auditors’ Report to the members of SENTINUS (cont’d)

Responsibilities of the trustees

As explained more fully in the trustees' responsibilities statement set out on page 1, the trustees 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 they 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 trustees 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 concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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.

Use of our report

This report is made solely to 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 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 Charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

————————————

Nigel V. Skillen (Senior Statutory Auditor) for and on behalf of Diamond & Skillen Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast, BT1 1FE

14th June 2023

Page 6 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

SENTINUS

Statement of Financial Activities

(incorporating Income and Expenditure Account) for the year ended 31st March 2023

Notes Totals
2022
£
Totals
2023
£
Restricted
funds
£
Unrestricted
Funds
£
Fund balances carried fwd at 31st March
Fund balances brought fwd at 1st April
Net movement in funds
17

Transfers between funds
Net incoming / (outgoing) resources
TOTAL RESOURCES EXPENDED
5.3

Allocated support costs
on other items
5.2

Charitable expenditure
on charitable activities
5.1

Promotion and marketing
on raising funds
EXPENDITURE:
TOTAL REVENUE
4.3

Bank interest received
from investments:

Other income
from other activities:
4.2

Contract income
from charitable activities:
4.1

Government Grants
from donations and legacies
REVENUE:		 90
4,018
-
4,018
-
0
-
-
134,274
132,060
-
132,060
464,996
322,178
-
322,178
599,360
458,256
0
458,256
56,844
57,915
-
57,915
469,801
433,391
-
433,391
2,381
4,205
-
4,205
529,026
495,511
0
495,511
-
0
-
-
70,334
(37,255)
0
(37,255)
926,841
997,175
-
997,175
70,334
(37,255)
0
(37,255)
997,175
959,920
0
959,920

The income and expenditure summary as required to be disclosed by the Companies Act 2006 is included at note 16. All of the above results are derived from continuing activities.

The company has no recognised gains or losses other than the surplus or deficit for the above two financial years. The notes on pages 9 to 14 form part of these financial statements.

Page 7 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

SENTINUS

Statement of Financial Position as at 31st March 2023

2023 2023 2022
Notes £ £ £
Total funds
15

n/a
Restricted income funds:
15

General fund
Unrestricted income funds:
The funds of the charity:
Total assets less current liabilities
Payables:amounts falling due after more than one year
Net current assets
12
Payables:amounts falling due within one year
11

Cash at bank and in hand
10

Receivables
Current Assets
9

Tangible assets
Non-Current Assets		 909,083
148,662		 543 724
-
959,377		 922,745
168,375
(98,368)
1,057,745		 (94,669)
1,091,120
-
996,451
959,920 997,175
959,920 997,175
-
959,920		 -
997,175
959,920 997,175

The notes on pages 9 to 14 form part of these financial statements.

The financial statements on pages 7 to 14 were approved by the Board of Trustee / Directors on 14th June 2023 and signed on their behalf by:

————————————

Tanya Hedley Director, Chair of Directors

Page 8 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

SENTINUS

Notes forming part of the Financial Statements for the year ended 31st March 2023

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) (effective from 1st January 2015) - (Charities SORP (FRS102)) and the Companies Act 2006. Exemption has been taken from the requirement under FRS1 to prepare a cash flow statement on the grounds that the company qualifies as a small company.

Sentinus meets the definition of a public benefit entity under FRS 102 and the Charities SORP. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

1.2 Reconciliation with previously Generally Accepted Accounting Practice (GAAP)

In preparing the accounts the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP (FRS 102) the restatement of comparative items was required - No restatements were required.

1.3 Preparation of the accounts on a going concern basis

The trustees are of the view that as the reserves of the charity are within the requirement of the charity’s reserves policy, the immediate future of the charity for the next 12 to 18 months is secure and on that basis the charity is a going concern.

1.4 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustee / directors in furtherance of the general objectives of the charity and which have not been designated for other purposes. The fund comprises the accumulated surpluses and deficits of unrestricted income and expenditure.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of administering such funds are charges against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income and gains are allocated to the appropriate fund.

1.5 Non Current Assets

Amounts greater than £10,000 spent on equipment and similar are recognised as fixed assets in the accounts. Fixed assets are stated at cost less accumulated depreciation.

Depreciation is provided to write off the cost of fixed assets over their anticipated useful lives.

Depreciation is provided at the following rates:

1.6 Income recognition policies

Items of income are recognised and included in the accounts when all of the following criteria are met:

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Grants receivable

Grants receivable which relate to the year are credited to income within the Statement of Financial Activities, with unspent balances being carried forward to subsequent years within the relevant fund.

Specific debts are recognised where approved grant expenditure exceeds grant income received to date. Grant income relating to future periods is carried forward under creditors.

1.7 Expenditure

Expenditure is recognised once there is legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: - Expenditure on raising funds comprises the costs of marketing and promoting the charity;

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between and “expenditure on charitable activities” and “expenditure on other items”. The bases on which support costs have been allocated are set out in note 6.

1.8 Pension costs

The company operates a defined contribution scheme. The amount charged to the Statement of Financial Activities represents the contributions payable by the charity during the year. Contributions are invested separately from the company’s assets.

1.9 Taxation

There is no liability to taxation due to the company’s charitable status.

1.10 Receivables

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

Page 9 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

SENTINUS

Notes forming part of the Financial Statements for the year ended 31st March 2023 (cont’d)

1.11 Payables and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.12 Transition to FRS 102

The transition date was 1st April 2016.

There was no requirement to restate any comparative balances in making the transition to FRS 102.

2 LEGAL STATUS OF THE CHARITY

Sentinus is a private company limited by guarantee, registration number NI020310, and is also a registered as a charity with HM Revenue & Customs (number XN86071). Sentinus is registered as a charity with the Charity Commission for Northern Ireland (registration number NIC102064). In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

3

EMPLOYEE COSTS

Totals
2022
£
Totals
2023
£
Restricted
funds
£
Unrestricted
Funds
£
Other pension costs
Employer Allowance
Social security costs
SMP recovery & NIC compensation payments
Wages and salaries		 12,098
13,487
-
13,487
(4,000)
(5,000)
-
(5,000)
13,603
14,646
-
14,646
(6,827)
(644)
-
(644)
136,091
135,763
-
135,763
150,965
158,252
0
158,252

The average number of persons, including part-time staff, employed on UK contracts was 5 (2022: 5)

No trustee or director received any remuneration from the charity in the year (2022: £nil)

One employee was paid more than £60,000 in the year (2022: 1)

The amount of employer pension cost included in respect of employees paid more than £60,000 was £10,420 (2022: £9,831)

4 INCOME

4.1 from donations and legacies

GOVERNMENT GRANTS Totals
2022
£
Totals
2023
£
Restricted
funds
£
Unrestricted
Funds
£
Department for the Economy - STEM events programme
Department of Education, NI - NI 100
Department of Education, NI - IT’s your choice
Department of Education, NI		 35,486
0
-
-
74,710
0
-
-
54,800
22,178
-
22,178
300,000
300,000
-
300,000
464,996
322,178
0
322,178

4.2 from charitable activities

CONTRACTS Totals
2022
£
Totals
2023
£
Restricted
funds
£
Unrestricted
Funds
£
Other
Income from Events, Schemes, Roadshows and Workshops
Society for Science -Broadcom Masters
Queen’s University, Belfast
Sentinus Research Placements
Nuffield Curriculum Project Centre -Nuffield Research Placements
Ernest Cook Trust
Engineering UK -Big Bang
Charities Aid Foundation
Belfast Metropolitan College -Bring IT On		 -
0
-
-
78,874
112,531
-
112,531
1,361
0
-
-
-
8,932
-
8,932
4,300
0
-
-
32,350
0
-
-
2,000
0
-
-
7,500
10,597
-
10,597
1,000
0
-
-
6,889
0
-
-
134,274
132,060
0
132,060

Page 10 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

SENTINUS

Notes forming part of the Financial Statements for the year ended 31st March 2023 (cont’d)

4.3
5
5.1
5.2
5.3		 from investments
Totals
2022
£
Totals
2023
£
Restricted
funds
£
Unrestricted
Funds
£
Bank interest
EXPENDITURE
on raising funds		 90
4,018
-
4,018
90
4,018
0
4,018

COSTS DIRECTLY ALLOCATED TO EXPENDITURE
ON RAISING FUNDS		 Totals
2022
£
Totals
2023
£
Restricted
funds
£
Unrestricted
Funds
£
Business development
Promotion and marketing expenses
on charitable activities		 -
0
-
-
2,381
4,205
-
4,205
2,381
4,205
0
4,205
COSTS DIRECTLY ALLOCATED TO EXPENDITURE
ON CHARITABLE ACTIVITIES		 Totals
2022
£
Totals
2023
£
Restricted
funds
£
Unrestricted
Funds
£
Registration / subscription fees
Project support
Sundry project costs
Food and accommodation
Materials
Travel & subsistence
Prizes & Bursaries
Associates		 35
35
-
35
-
0
-
-
100
0
-
-
1,363
7,280
-
7,280
98,323
23,010
-
23,010
18,786
26,795
-
26,795
1,642
0
-
-
188,555
210,635
-
210,635
308,804
267,755
0
267,755
SUPPORT COSTS ALLOCATED TO EXPENDITURE
ON CHARITABLE ACTIVITIES(see note 6)		 Totals
2022
£
Totals
2023
£
Restricted
funds
£
Unrestricted
Funds
£
Depreciation
Bank charges
Salaries, wages and related costs
Legal and professional
Information technology
General office
Premises		 -
0
-
-
-
0
-
-
118,547
124,326
-
124,326
-
0
-
-
12,625
9,951
-
9,951
3,927
5,816
-
5,816
25,898
25,543
-
25,543
160,997
165,636
0
165,636
TOTAL EXPENDITURE ON CHARITABLE ACTIVITIES 469,801
433,391
0
433,391
on other items
SUPPORT COSTS ALLOCATED TO EXPENDITURE
ON OTHER ITEMS(see note 6)		 Totals
2022
£
Totals
2023
£
Restricted
funds
£
Unrestricted
Funds
£
Depreciation
Bank charges
Salaries, wages and related costs
Legal and professional
Information technology
General office
Premises		 242
181
-
181
472
348
-
348
32,418
33,908
-
33,908
13,100
13,151
-
13,151
3,156
2,488
-
2,488
982
1,454
-
1,454
6,474
6,385
-
6,385
56,844
57,915
0
57,915

Page 11 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

6

SENTINUS

Notes forming part of the Financial Statements for the year ended 31st March 2023 (cont’d)

ANALYSIS OF GOVERNANCE AND SUPPORT COSTS

GOVERNANCE AND SUPPORT
COSTS		 Basis of apportionment
Totals
2022
£
Totals
2023
£
Other
items
£
Charitable
activities
£
Depreciation
Bank charges
Salaries, wages and related costs
Legal and professional
Information technology
General office
Premises costs		 Allocated to other costs
242
181
181
-
Governance - allocated to other costs
472
348
348
-
Based on staff activity
150,965
158,234
33,908
124,326
Governance - allocated to other costs
13,100
13,151
13,151
-
Pro rata to staff full time equivalents
15,781
12,439
2,488
9,951
Pro rata to staff full time equivalents
4,909
7,270
1,454
5,816
Pro rata to staff full time equivalents
32,372
31,928
6,385
25,543
217,841
223,551
57,915
165,636

Net incoming resources

Unrestricted Restricted Totals Totals
Funds funds 2023 2022
£ £ £ £
Net incoming resources are stated after charging:
Depreciation of fixed assets 242 - 242 242
Diamond & Skillen - Auditor’s remuneration 3,600 - 3,600 3,600
Diamond & Skillen - Payroll Bureau 2,000 - 2,000 2,000
Diamond & Skillen - Accountancy & management
accounts		 7,500 - 7,500 7,500

8 Pension costs

The company operated defined contribution schemes in respect of its staff. The schemes and their assets are held by independent managers. The pension charge represents agreed employer contributions due from Sentinus and amounted to £13,487 (2022: £12,098)

9

Non Current assets

Totals
£
Fixtures
& fittings
£
At 31st March 2022
At 31st March 2023
Net book value:
At 31 March 2023
Charge for year
At 1 April 2022
Accumulated depreciation:
At 31 March 2023
Additions
At 1 April 2022
Cost:		 543
543
————
————
165,055
165,055
————
————
181
181
164,874
164,874
————
————
165,598
165,598
————
————
0
-
165,598
165,598
724
724

10

Receivables

Totals
2022
£
Totals
2023
£
Other debtors
Trade debtors		 121,350
113,614
47,025
35,048
168,375
148,662

Page 12 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

11

SENTINUS

Notes forming part of the Financial Statements for the year ended 31st March 2023 (cont’d)

Cash at bank and in hand

Totals
2022
£
Totals
2023
£
Ulster Bank Ltd - 30-day Business Reserve
Ulster Bank Ltd - Liquidity Manager Account
Ulster Bank Ltd - Current Account
Petty Cash		 16
16
941,471
925,409
(18,856)
(16,456)
114
114
922,745
909,083

An arrangement is in place for the Ulster Bank to automatically transfer surplus current account funds to the Liquidity Manager Account and also to transfer funds to the current account from the Liquidity Manager Account to meet all cheques when presented for payment. In this way, the running balance on the Current Account is kept to a minimum. For this reason, the directors deem it inappropriate to include a negative current account balance under creditors, since the actual balance on call is the sum of the Current Account and Liquidity Manager accounts.

As at 31st March 2023, there are £17,672-88 (2022: £17,672-88) of cheques written which have not been presented to the bank for payment. All of these were more than 6 months old.

12

Payables: amounts falling due within one year

Totals
2022
£
Totals
2023
£
Income in advance
Accrued expenses
Trade creditors		 5,000
-
78,345
65,108
11,324
33,260
94,669
98,368

13

Financial Commitments

At 31st March 2023 the company has no annual commitments under non-cancellable leases nor any other financial commitments that are not recognised in the accounts (2022: £nil). Sentinus has entered into a number of long term contracts for the supply of services all of which are cancellable. In 2019 the company signed a new 5-year lease to rent the premises at 19a Ballinderry Road, Lisburn at an annual rent of £21,000 pa. The potential liability on cancellation of this lease has been reflected in the company's capital requirement under its reserves policy disclosed in the Directors' Report on page 3 of these financial statements.

14

Analysis of charity net assets between funds

Totals
2023
£
Restricted funds
£
Unrestricted
funds
£
Current liabilities
Current Assets
Fixed Assets		 (98,368)
-
(98,368)
1,057,745
-
1,057,745
543
-
543
959,920
0
959,920

15

Statement of Funds

At 31 Mar
2023
£
Transfers
£
Investmnt
Gains
£
Exp.
£
Income
£
At 1 Apr
2022
£
Total funds
Total restricted
n/a
Total unrestricted
General fund		 959,920
-
4,018
(495,511)
454,238
997,175
959,920
0
4,018
(495,511)
454,238
997,175
0
-
-
-
-
-
0
0
0
0
0
0
959,920
0
4,018
(495,511)
454,238
997,175

The general fund represents the free funds of the charity which are not designated for particular purposes.

Page 13 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

16

SENTINUS

Notes forming part of the Financial Statements for the year ended 31st March 2023 (cont’d)

Income and expenditure summary

2022
£
2023
£
Surplus for the year
Net (outgoing) / incoming resources
Administration costs
Direct charitable expenditure
Resources expended
Gross income		 220,222
227,756
308,804
267,755
599,360
458,256
70,334
(37,255)
70,334
(37,255)

The above reflects the Income and Expenditure accounts as required by the Companies Act 2006 as opposed to that required under the SORP as detailed on page 5. Detailed analyses of the expenditure are provided in the Statement of Financial Activities and note 5.

17 Transfer between funds

There were no transfers between the funds this accounting year.

18 Related Party Transactions

There were no transactions with related parties in the year.

19 Disclosure of relevant circumstances

In common with many other charities of our size and nature we use our auditors to:

i. prepare and submit returns to the tax authorities;

ii. assist with the preparation of the financial statements; and

iii. prepare and submit payroll calculations to HM Revenue & Customs.

During the year our auditors also assisted with the preparation of quarterly management accounts for perusal of the Board.

Page 14 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE

SENTINUS

Detailed income and expenditure account for the year ended 31st March 2023

2023 2023 2022 2022
£ £ £ £
NET (DEFICIT) / SURPLUS
Fixtures and fittings
Depreciation
Bank charges
Finance costs
Total resources expended
Legal and professional fees
Sundry expenses
Accountancy and audit
Computer and IT costs
Telephone
Business Development
Advertising / PR
Printing, postage and stationery
Repairs and maintenance
Light & Heat
Insurance
Rates, water rates and sewerage costs
Rent
Employee costs
EXPENDITURE
Sundry income
Deposit account interest
OTHER INCOME
GROSS SURPLUS
Project costs
COST OF SALES
Income
TURNOVER		 -
52
13,100
12,439
3,897
-
4,205
3,247
2,245
2,682
6,126
-
21,000
158,234		 (37,255)
181
(37,074)
348
(36,726)
227,227
190,501
-
4,018
186,483
(267,755)
454,238		 -
-
13,100
15,781
3,686
-
2,381
1,223
2,537
1,975
6,860
-
21,000
150,965		 (308,804)
599,270
-
90
290,466
219,508
290,556
71,048
472
242
70,576
70,334

THIS PAGE DOES NOT FORM PART OF THE STATUTORY FINANCIAL STATEMENTS

Page 15 of 15

Chartered Accountants and Registered Auditor Sinclair House, 89/101 Royal Avenue Belfast BT1 1FE