CompanyRegi5trèfron Number N1020310 HMRCCharityRegistration Number XN86071 The Charity Commission forNorthemJrelandRegistrafyon Number NIC102064 SENTINUS (a company limited by guarantéè) Report and Financial Statements for the year ended 31st March 2024 l)i'iiiii)iid ChatterAttOnttsadReWtE[edAUth1Or '< SkillL'ii si]rHouS4 891MllBJyalAvBnvE BeJf&rtFTxAVE •* ,ientinus
SENTINUS Company Information for 202412025 Trustee / Direrto Tanya Hedley {chairl Elizabeth Ackah Mark Baker. Clare Doran... Tom Edgar James Moore Roy McBrine DavidMcDonald..-...-....-....... appointed 14thJune 2023 LauraMcGirr.............-.............. . appointed 14fh June 2023 NeilMcllwaine..................-...-..... resigned315tMarch 2024 David Phelan. . appointed 14th June 2023 Raymond Pollock OBE........................ resigned31stDecefflber2023 Aaron Portis appointed 14thJune 2023 . appointed 14thJune 2023 Company Secretsry William Connor MBE Company Number N1020310 Registered Office 19a Ballinderry Road Lisburn Co Antrim BT28 2SA Auditors Diamond & Skillen Chartered Accountants and Registered Auditor Sinclair House 891101 Royal Avenue Belfast BTI 1FE Bankers Ulster Bank Ltd 11116 Donegall Square East Belfast BT15UB Chief Executive William Connor MBE l)iJiii()i]{I ChDtte[edAcWunt¥ls andReSterÈdAUththr ' %killL'lI sdalTHUe,89/1OiR0y3IAyenlle •* Sentinus
SENTINUS Contents PagÈ (s) Report of the Trustee l Directors Independent Auditors, Report Ststement of Financial Activities Ststement of Financial Position Notes to the Financial Statements 9-14 rhe follon9page does not fonnpart of thestatutoryf Inanaalstatements." Detsiled Income and E¥penditure Account 15 l)iaiiiuii(I CerAOUDtrntsandRewteredAdl1or 1£ Skillcii SlndairHoUs<891I BAVe1C entinus
SENllNUS Report of thÈ Trustee / Director5 for the yearended 31st Marth 20 The Trustee5 (who a also the Board of Diiectors of the company) are pleased to submit their annual Director< Report together with the audited financial statements of the charitable company for the year ended 31. Mar¢h 2024. The financial statements have been prepared in accordance with Accounting and reporting by Charitie% Statement of Re¢r)mmended Practice ISORPI applicablè to charities preparing their a¢¢ourits in accordance with the Financial Rèporting Standard applicable in the United Kingdom and the Republic of Ireland IFRS 1021 and also to meet the requirements for accounts for the purposes ofThe Companiè5 Act 200& REFERENCE AND ADMINtSTRATIVE DAlls Sentinus is a private company limited by guarantee, registration number N20310, and is also a gIstered as a charity Vitth HM Revenue & Customs (number XN860711. Sentinus is registered as a charity with the Charity Commission for Northem Ireland (registration number NIC1020641. The present Trustee l Directors. and any past Trustee / Directors who served during the year, are given on page 3, together Trth the names of the chariVs external adws015. STRucfuRi GOVERNANCE AND MANAGEMENT General Sentinus is governed by its MÈmorandum and Articles of Association adopted on 23rd March 1987, amended 3rd December 1987 to reflect current govemance arrangements and amended 4th May 2001 for change of company name. The company adopted a new Memorandum and Articles of Association on 19th January 201 S irt accordance wtth guidan issued by the Charities Commisston for Northem Ireland In the event of thè company being wound up, member5 are required to contribute an amount not exceeding £1. rNstee/Direttors Each Trustee of the company sits on the Board of Directors. This Board is responsible for the overall govemance of the Company. Trustee / Directors are appointed by the Chairman. The total number of tnjstee I directors shall not be subject to any maximum but shall not be less thèn two. The Board delegates the exer¢ise of certain powers in connection with thÈ 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 power5 can be ratified by the fLtII Board in due course. The Chief Executwe 15 responsible tor the day-to-day management of the comPanS affairs. The company adopted a Govemance Framework which wa5 implemented in March 2008. StatementolTfustee/Piredors'ResponslbHltlesMdCorporate 6overnartce The Twsteè / Directors are responsible ft)r ensuring that the Company produce5 propèr accounting records which di5c105e with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements compty with the Companie5 Act 2006. They are a150 responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detèction of fraud and other irregularities and to provide reasonable assurance that the Company is operating efficiently and effectively, all assets are safeguarded againstunauthorised use or disposition and are propedy applied.. proper records are maintained and financial information used within the Company. or for publicalion, is reliable; the Company ¢omplie5 Wtth relevant law5 and regulations. Intsmal controls over all foms of commitment and expenditure Continue to be reviewed to improve efficiency. Processes are in place to ensure that perfonnance 15 monitored and the approprtate management infomation is prepared and reviewed on an ongoing basis by executive management and quartedy by the Board of Trustee / Directors. The systems of internal control are designed t¢ provide reasonable but not absoluts assurances against material misstatement or loss. They include.. a strategic plan and annual budget approved by the Trustee / Directo regular consideration by the Trustee / Directors of financial results variances from budgeL non financial perfoman¢e indicators and bench marking reviews.. delegation of day to day management authority and segregation of duties,. identification and management of risks, In accordance with company law the Directors certify that so far as we are aware. the is no relevant audit information of which the Company's auditors are unawao, and as the Trustees and Directors of the Company we have tsken all the steps that we ought to have taken to make ourselves aware of any relevant audit information and to e5tsblish that the auditors are aware of that infomation. conyd.. J l)icllll()i](I ChartetedArOiund11EY1teredAudIt0r ' 8killLIi 8irwJ4irHoug4891wiRo5oiAll2 Page l 0115 •% Sentinus
SENTINUS Report of the Trusteè l Directors for thè yèar ended 31st March 2024 Ccontdj Riskmanagement During the year the DirectoJs have considered and examir5ed the major risks that face the chaftty and established strategzes that will mitigate the impact they may have on the charitys fvture. This process will be continued on an ongoing basis for each financial year. Publlc Benèfit Report OBJEcfs. oBjECTh AND PRINapAL AClliqllES OF THE CHARITY In accordance with thé Memorandum ofAssociation the objects for which the Company is established are.. Pmmotion andpamcipatton in liaison activitiesbehveen industryandeducatio The strategies employèd to achieve the compan5 objectives included: Developing and deepening the existing partnerships with the education sertor by organi5ing activitie5 and projects invofving students directly with industy. PUBUC BENEFtr REPORT Purpts ofthe Charity The purpose of the Company is to advance the theortical and practical education of young people in Northern Ireland in science, technology. engineering and mathematics and promote greater understsnding of industry, its essential rtsle and service to the comrnunity and economy and encourage the establishmerht and development of artnershi s between indust and education. Despite the withdrawal of Departtnent of Education fvnding at the end of May 2023, Sentinus continued to engage beneficiaries in curriculum relevant activty in science. technology, engineering and maths which helped them understand the Importan of the STEM subjerts and the impact of saence and engineering on the modem world. Piogrammes delivered included.. Research & developrnent projed Research projectS-, Insight and career5 programrn Celebration events foi STEM project worK' STEM Woikshops and challenge¥ Di9ital Skills & Cornputer Programrning workshops., Provision of STEM resources and materials to support learning in STEM subject Ernployability Skills programmes. In 2023-24 Sentinvs worked with a total of 388 prirnary. post primary and special educational needs schools engaging 35.071 young peopl< between the ages of 5 and 19 years. Outputs included 459 STEM and DKJital Skills workshops involvin9 23,837 pupil& 78 Employability Ski115 Toad Shows invoknn9 7,589 5bJdents. A totsl of 881 teacher en ements took lace. The direct benefrts to beneficiaries from the actwities of the Charity include: improved scientific and technological Skills and knowledge, allowng them to maximise leaming in scien and technology and understand the relevance of the STEM subjects to the world of wori. contextuali5ation of learning in STEM Subj increased awareness and understanding of the irnportance of the STEM subjects and theirvatue to potential employe increased awarenes5 of Caer opportunities within the STEM sector in Northern Jreland., enhanced ability for beneficiaries to make informed career decisron enhanced inlerpersonal and employability skill5. These benefits can be demonstrated through 1ct feedback from both teachers and young people inVoed in the programmes. What the Charty has done durin9 the year to carry out its purpos•s7 How have the •cti¥itiqs provided benefit to its beneficiaries and how can this be demonstrated- the achievements of the Charlty7 How has the Charity rnitigated any harm tlowing from Its ur No hami flowed frorn the purposes ofthe Charity. How ha5 the Charfty ensur•d thtyt any private benefit h•$ been ihEidental to the ubfic benefit7 Statement of compliancewith tho duty to have regard to the Commission's uidance No private benefit ffowed from the Charitys activitie5. In setting our objectives and planning our actwitie5 for the year the trustees have given careful consideratign to the Charity Commissior5 for Northern Ireland's guidance on public benefit to ensure that the actMtie5 have helped to achieve the Charitys purpose and prowde a benefit to the beneficiarie& conVd.../ l)j(1111011(I Ch4rtetEdAccountDDts4ndRW¢TEdAuthtor 'w SkillLlI SindalrHou 891wi RuWAvenue Page 2 of 15 • Sentinus
SENTINUS Report of the Truste• l Dlr•ctors for the year ended 31st March 2024 fcont'dj ACHIEVEMENTS AND PERFORMANCE SENllNUS STATISTICS 202312024 2024 2023 Number of Pu ils Involved Number of Schools Involved Number ofTea¢hèrs En a èments Number of Em Skills Roadshows Number of Pu atin inEm lo Number of Di ital Skills Roadshow5 Number of Pu ils Partici atin in Di Numbèr of sfEM Roadshows Number of Pu ils Partici atin 35.071 388 881 78 7.589 217 12,047 242 11,790 56.379 523 62 14.095 Skills Pro rammes ital Sknlls Pro rammes 403 20.209 in STEM Roadshows FINANaAL REVIEW AND RESULTS FOR THE YEAR The Statement of Finan¢ial Activities on page 7 is designed to reflert all incoming resources receivable in the year irrespective of when income is actually received. Total incoming resources for the year amounted to £237,052 12023.. £458.2561. Totsl resources expended (including depreciation of fixed assets) of £402,167 12023.. £495.5121 resulted in nèt outgoing resources for the yèar of £165.115 12023.. net outgoing resources of £37,255). There is no balance on restricted fvnds at the end of the year. The total balance on unrestricted fvnds at the year end was £794,80512023." £959,9201 which is free and represents the resetves available to tho Directors to help fvlfill ¢urrent and frJtu plans. RESERVES POUCY Introduction Financial reseNes offer a mechanism to retain surpluses which are not distributed or spent shortly after an accounting year end, but lather retained to allow for any future reductions in income or unanticipated expenditure not provided for in annual budgets The Charity Commission for Northem Ireland requi$ 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 financia statements. Reserves do not include capital assets or funds vthich are restricted in use by Conditions imposed by the donor. The Charity Commission requi5 that trustees recognise thè réserves issue. assess the need5 of the entity. seek to reach an appropriate level within a reasonabletimescale and report their reserves policy in the annual report accompanying the accoun Tncomè The Department of Education withdrew fijnding for 5entinus at the end of May 2023. Since that poin¢ Sentinus, income has béèn generated from rangè ot sources. Without the core gran¢ income has reduced significantty and outgoings have exceed income in the last year& Until Sentinus can replace the income lost as a result of the withdrawl of fvrtding. reseNes wll be needed to cover the shortfall of income ver5US outyoing& Expenditure Trustees should consider the pattem of Sentinug 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 tsmi ommitments and would. therefore, be more difficult to terminate. Certain costs are of a fixed nature in the short to medium ierm and will continue to be irtcurred regardle55 of the level of advity. The largert element of'fixed, expendire will be employee costs, followed normally by accommodation costs. A55es5ment of ReseNes Level In deternining the level of reserves required. it is necessary to assess how long it would tske to wnd up Sentinus and the cost to run it during thi5 period, assuming a sustsined fall in its level of income such that it no longer remained viable to continue to operate. Allowance would also need to be m3de for temiination costs such as redundancy and eady settlement of lease5 and any legal and other professional fee5 arising durin9 this proces& The trustees deem it prudent to set aside reseNes representing approximatsly tWee months full costs and a provision for winding up thè Company to account for costs such as redundancy, leases outstsnding on premises and any other contractual financial commitment Reserves should be at least this level to ensure the ¢harity can run efficiently and meet its legal requirements. FactOf5 taken into account would include the need to cover fluctuations in income, current liabilities and unplartned expenditure. The trustees calculate that the overall reseNe provision as at 31st March 20315hould be no le55 than £750.671 R021= £857,581). The actual reserves at 31st March 2024 were £794,805 12023.. £959,920) which is £44,134 above the compaA/s target minimum and c.105.9% 12023: I11.) of that minimum figure. Trustèes wll closely monitor the actual reserves each year to ensure they are maintained at an appropriate level. conYd...I l)i'iiii(Iiid CharteTEdA¢p}tsattdRepstetAudit0r '< SkillLI] Sitd3irHous4891wiRoJvlAvenue BdhstBTr IFE Page 3 of 15 •% Sentinus
SENTINUS Report of the Tru5toe / Directors for the year ended 315t Mah 2024 (conyd) PLANS FOR FUTURE PERIODS The company plan5 continuin9 the actNitie5 oudined above in the forthcoming years Subject to satisfartory funding arrangements DIRECTORS The directors who served during the year were: E Ackah M Baker C Doran T Edgar T Hédlèy J Moore R M¢Brine D McDonald (appointed 141061231 L McGirr (appointed 141061231 N Mcllwaine D Phelan R Pollock A Portis (appointed 141061231 lappointed 141061231 (appointed 141061231 The following were in attendance at Board Meetings during the year W Connor ChiefExecutive andStatutoryComp•nyS8crets AUDITORS Diamond & Skillen were appointed auditor5 to the company and are deemed to be re-appointed in accordance with Section 487121 of the Companies Act 2006. These financial statements have been prepared in accordance with the prowsions applicable to companie5 subject to the small companies. regime. By order of the Board Tanya Hedley- ChairofDirectoAY 12th June 2024 l) jaiiioii(I Charte[edAcntatyUndReySt2[edAudIt0r (SkillLii SllJdalTHou5e,891wiRD>dATe Be1f&rtME Page 4 of 15 • Sentinus
SENTINUS dèpendent Auditor5. Report to the mÈmbers of SENTINVS Opinion We have audited the financial ststements of Sentinus (the 'ChariV) for the year ended 31st March 2024 which comprise the Statement of Financial Activities, the Statement of Financial Position and the notes to the financial statements, including a summary of sigrtificant accounting policies. The financial reporting framework that has been appliéd in their preparation is applicable law and United Kingdom Accounttng Standard& including Financial Reporting Stsndard 101- The Financial Reporting Standard appli¢ablÈ irt the UK and Republic of Ireland (United ngdorn Generally Accépted Accountin9 Practice). In our opinion, thè financial statements= gwe a twe and fair view of the state of the Charity's affair5 a5 at 315t March 2024 and of its incoming resources and application of resources forthe year then ended.. have been properly prepared in attordancè with United knngdom Generally kcÈpted Accounting Practice; have been prepared in accordance with the requirements of the Companies Act 2006. Basi5 foropinion We conducted our audit in accordance Yrfith Intsmational Standards on Auditing (UKI USAS IUKII and applicable law. Our re5pon5ibilitie5 under those stsndard5 are fijrther described in the Auditorfs responsibilities for the audit of the financial statements sertion of our rèport Wè are independent of the Charity in accordan¢e 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 entitie& in the circumstances set out in note 19 t¢ thè finartcial statement& and we have fulfilled our gther ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriats to provide a basis ft¢r our opinion. Conclusions relating to golng conc•m We have nothing to report in respect of the followin9 matters in relation to which thelSAs IUK) require us to report to you where.. the tru5tee5' use of the going concern basis of accounting in the préparation of the financial statements is not appropriate- or the trustees have not disclosed in the finartcial statements any identified material uncèrtainties that may cast significant doubt about the Charity5 ability to continue to adopt the going concem basis of accounting for a period of at least trRlve month5 from thè date when the financial statements are auth0ri5ed for issue. Other Inforniation The tru5tee5 are rèsponsible for the other infomiation. The other information comprises the informatton included in the anrtual 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, eXpt to the èxtent otherwise explicitly stated in our repo¢ wè do not express any form of assurance conclusion thereon. In connection with our audit of thé financial statements, our responsibility is to ad the other inforniation and, in doing so, consider whether the other infomation is materially inconsistent with thÈ financial statements or our knowledge obtained in the audit or otherwise appears to be materially mi5Stated. If we identify such material incon515tencies or appant matèrial misstatements we are required to determine whether there is a material misstatement in the financial 5tatsmènts or a material misstatement of the other information. If. based on the wod( we have performed, we conclude that there is a material misststement of this other information. we are required to report that facL WÈ have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based ort the work undertaken in the course of the audit the information given in the tru5tee5' report (incorporating the strategic report and the directors. report) for the financial year for which the financial statements are prepared 15 consistent with the financial 5tatements,' and thé trustees, report (incorporating the Strategi¢ rÈport and the directors. report) have been prepared in a¢¢ordance with applicable legal requirements. Matters on which we •re required lo report by exception In the light gf the kn¢)wledge and understanding of the Charity and its environment obtained in the course of the audiL we have not identified material misstatements in the Trustees, Annual Report fincluding the Stratsgi¢ Reportl. We have nothit)g to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to yOLt if. in our opinion= adequate accountin9 records have not been kept the financial statements are not in agreement with the accountir5g record5 and returns; ertain dis¢10sure5 of trustees, remuneration specified by14w are not made,. or we have not obtained all the infomation and explanations necessary for the purposes of our audit cont'd.. J l)iaiiioii(I ChartErdhtthuotoDtsandRwtstglAuditor '< Skillcii SiDclairHouG4891wx Belf4stwniYE Page5 oA15 •* Sentinus
SENNU5 Independent Auditoffs. Report to the mÈmber5 of SENIINUS (conyd) Re5ponsibilitles ot thè trustses As explained more fully in the trnsteès. responsibilities statement set out on page 1, the triJ5tees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intsmal control as they detemine T5 necèssary to enable the preparation of financial statèments that are freè from material misstatèmenL whether due to fraud or error. In preparing the financial statements the tnjstees are responsible for asse$5ing the Charitys ability to continue as a going ¢on£èm. disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless thè trustee5 either intend to liquidatè the Charity orto cease operations, or have no realistic alternatwe but to do so. Our responsibilitie5 for the audit of thè finan¢ial 5tstem•nts Our objectives are to obtain reasonable assuiance about whether the financial statements as a whole are free from material misstatement whether due to fraud or error, and to issue an auditorf5 report that includes our opinion. Rèa50nable assurance is a high lèvel of assurancÈ, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will alway5 detect a material mi55tstement when it exists. Misstatements can arise from fraud or em)r 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. Our responsibility is to audit and express an opinion on the financial statements in accordancè with UK law and Intematiortal Standards on Auditing (UK). Those standards require us to comply with the Auditing Practices Board's l(APB'sll Ethical Standards for Auditors including "AP8 Ethical Standard- Provisions Available for Small Entities (Revised)" in the circumstances set out in note 19 to the financia15tatsmÈnts. A fvrther description gf our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's websits at www.frc.org.uVauditorsrespon5ibilities This description forms part of our auditorfs report USÈ of our report This ieport is made solely to the Charity's members, a5 a body. in accordance with Chapter 3 of Part 16 of the Companies Att 200& Our audit wort has been undertaken so that we might stste to the Charity'5 members thosè rnatte we are required to stste to them in an auditovs report and lor no othèr purpose. To the fullèst extent permitted by law. we do not accept or assume responsibility to anyone other than the Charity's membérs as a body. for our audit woll for this repoo orfor the opinions we havè fomied. Nigel V. Skillen (Senior Ststutory Auditor) forandon behalf ol Diamond & Skillen Chartered Attountants and Registered Auditor Sinclair House. 891101 Royal Avenue Belfas¢ BTI IFE 12th June 2024 l)iaiiioiid Chartetedknuntaztt54ndRewteTedAuditor '<.Skillcn 8W4iTH0u5B9/iDxRQ>?1Ayellv¢ Belf&ttBTrJlE Poge 6of 15 •* ientinus
SEN71NUS Statement of Financlal Activitie5 {Incorporating Income and Expenditurè Account) for the year ended 315t Mah 2024 UnrestrÈcted Fund5 Restricted funds Totals 2024 Totals 2023 Notss REVENUE: from donationsandl•gades Government Grants 74,0(10 74.000 322,178 from d1arltablea¢btie Contra¢t income 145,274 145.274 132,060 Other income frommv•sbnentr Bonk interest Ceed 4.3 17.778 17.778 4,018 TOTAL REVENUE 237.052 237.052 458,256 EXPENDMJRE: on rnislng hinds Promotion and marketin9 1,129 1.129 4.205 ¢w ¢han"tablé a<b''tiO5 Charitable expendire 331837 331837 433.391 on otherltems Allocated support costs 6&201 64Z01 57,915 TOTAL RESOURCES EXPENDED 401167 40I167 495,511 Net (oulgolng) resources Transfer5 between funds 1165.1 ISI (16S.115) 137.2551 17 Net movemènt in fvnds 1165.1151 959,920 (165.115) 137,2551 997.175 Fund balances brought fv4d at 1st April Fund balances carrièd fvid at 31st March 959.920 794.805 794.805 959,920 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 re¢ognised gains or losses other than the 5uq)lus or deficit for the above tso financial years. The notes on pages 9 to 14 form part of these financial ststements. l)j<lll]oii(I CbBftetedAcEouDtADts4ndReysterniAudilur '< Skillcn Sindair Hous48911 kDyplA%wuB Be1fy5tBTriFE P(yge 7oA15 •* Sentinus
5ENTINUS stat•mènt of financial Position as at 31st March 2024 2031 2023 Notes Non-currènt Assets Tangible assets 408 543 Current Assets Receivables Cash at bank artd in hand 10 11 49.672 814.194 148.662 909,083 863.866 1057,745 Payables: amounts falling due wtthin one year NÈt current assets 12 (69.469) t98,368} 794.397 959,377 Payables: amounts falling due aftèr mole than one year Total assets less current liabilities 794805 959,920 The funds of the chjrity: Unresbyrtedincome lund General fund 15 794.805 959.920 794805 959,920 RÉistrictedincome fvnds.. 15 Total fund5 794.805 959,920 The notes on pages 9 to 14 fom part of these financial statsments. For the year in quèstion. the charitable company was entitled to exèmption from an audit under section 477 of the Companies Act2006. The member¥ have not required thè charitable company to obtain an audit of its accounts for the year in question in accordance with sèction 476 of the Act The trustee/dire¢tots acknowledge their responsibilitie5 for complying with the requiremènts of the Companies Act 2006 1th respert to accounting records and the preparation of accounts. The financial statsments on pages 7 to 14 were approved by the Board of Trustee / Directors on12th June 2024 and signed on their behalf ty- fk4 Tanya Hedlry Dirertor, Chair of Directors l)iaii)oii(l ehDtteredAtctsuntants4ndReytsredAuthLor ' Skillcii SuwlaiTHou5489/wiBJ1tsnuF Belf&stBTrJFE Poge 8of 15 • Sentinus
SENTINUS Notes fomiing part of the finanaal Staternents forth• y¢arended 31st Marth 2024 ACCOUNllNG pouaES The principal accounting policies adopted. judgements and W source5 of estimation uficertainty in the preparation of the financial statements are as follows.. Basi5 of preparatron The financial statements have been prepared in accordance with Accounting.and Reporting by Charitie& Staternent of Recornrnended Pradice applicable to charities pparing their accouTht5 in accordan with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland IFRS 1021 (effective from 1st january 20151- (Charities SORP IFRS10211 and the Cornpanies Aci 2DJ6. Exemption has been tsken from the requlrement under FRS1 to prepare a cash flow statement on the grounds that the tompany qualifS as small company. Sentinus Meets the definition of a public benefit entty under FRS 102 and the Charities SORP. Assets znd liabilitie5 3re inittalty e09ned at historical cost or transaction vahje unless othe1$e stated in the relevant accounting policy notelsl. RecolI1ati0n with previouslyGenerallyAcceptsd A¢¢ountin9 Pra¢tice IGAAPI In preparin9 the account5 the trustees have considered whether in apptying the accounting policies required by FRS 102 and the Charities SORP IFRS 1021 the restatemeTrt of comparative iterns was required- No restaternents were required. Pr•paration Qf the accounts on a going con¢•rn basis The tru5tee5 are ol the view that as the reserves of the charity a within the requirement of the charitys resee$ policy, the irnrnediate futu of the charity for the next 12to 18 months is secure and on Ihat basis the chaiity is a going concern. Fund accountiny General funds a UnstrICted fvnds which are available for use at the discretion of the trustee I directors in furtherance of the general objedives of the charity and which have not been designated for other purposes. The fvnd cornprises the accurnulated surpluses and deficits of unrestricted income and expenditure. Restricted fvnds are fiJnd5 which are to be used in accordance with specific restflctions imposed by donor5 or which have been raised bythe tharity for particular PUTpose> The cost5 of administering such fvnds are char9es against the specific fvnd. The airn and use ol each stricted fund is set out in the notes to the financial statements. Inve5trnent income and gains are allocated lo the appropriate fund. Non Current Assets Amount5 greater than £10,000 spent on equipment and similar a recognised as flxed assets in the accounts. Fixed assets are stated at cost less accumulated depcIatiOn. Depreciation is provided to write off the cost of fixed assets overtheir anticipated usefvl lives. Depreciation is provided at the followtng rates.. Fixture5 and fittings 25% reducing balance Incom• rttoynition policies Items of income are recognr5ed and included in the accounts when all of the followtng criteria are rnet.. - The charty has entitlement to the fijnd - Any performance conditions attached to the itemlsl ol income have been rnet or are within the control of the charity. There is 5uffioent certainty that ceIpt of the income is considered probabl¢ and The amount can be measured reliab Incorne received in advan of the pw5ion of a specrfied seNice is deferd until the criteria for income recognition are met 6r¥ntsre¢¢lvable Grants receNable which late to the year are credited to income within the Staternent of Financial Activities with unspent balanS being carried frjrward to subsequent years within the relevant fund. Specific debts are recognised where approved grant expenditure exceeds grant income recewed io date. Grant income relating to fvture period5 15 carried forward under creditor& ExpendÈture Expenditure is recognised once there 15 legal or constructNe obligation to rnake 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 heading Expenditure on raising funds comprises the costs of rnarketing and promoting the charity. Expenditure on tharitsble activities Indudes the direci costs allocated to the performance of educational artwities undertakeTh to further the purposes of the charity and theÉr assocrated 5UPPOrt costs., ExpenditUTe on other items represents those items not falling into any other heading. Allwtlon olsupportsts Support costs are those fvnrtions that assist the work of the charity but do not directty undertake charitable activities. Svpport C05ts include back office cost& finante, personneL payroll and governance costs whlch support the charity's progiammes and activitie& These costs have been allocated between and"expenditure on charitable actNitiEs" and'expenditure OTh other r(ern<. The bases on which support costs have been allocated a Set out in note & Pension costs The company operates a defined contribution scheme. The amount charged to the Statement of Financial Activitie5 represents the contribution5 payable by the charity during the year. Contributions are iAvested Separate frorn the company'5 assets. Taxation There is no liabilty to tsxation due to the compan5 charitable statu5. 1.10 Receivable5 Trade and other debtor5 are recognised at the settlement amount due after any trnde discount offered. Prepayments are valued at the arnoltnt prepaid after tsking account of any trade discounts due. 12 1A l)iJiiioiid Ck3rtetedAcr4unt4nts4ndltEte[AlldLknr '.%killLii SirthlrHoUs48911 BAVE12 Page 9 of 15 • Sentinus
SENTINUS Notss fomiing part of the Fin•ncial Statements lor th• yr ended 315t March 2024 (convdl Payables and provlsions CdItorS and provisions a recognised where the tharty has a present obligation resulting from a past event that will probabty resuk in transfer of fvnds to a third paty and the amount due to settle the obligation can be measured or esdmated reliabty. Credf(ors and provisions are nomially reco9nised at their settlernent amount after allowing for any trade discounts due. 1.12 TrBnsltlon to FRS 102 The transition date was 1st April 2016. There was no requirementto restste any comparatNe balances in making the transition to FRS 102. LEGAL STAYUS OF THE CHARITY Sentinus ts a prNate cornpany limited by guarante¢ registration nurnber N1020310, and is also a registered as a charty with HM Revenue & Customs (number XN860711. SentiThus Is registered as a (harty with the Charity Commission for Northern Ireland 1re91stratn number NIC1020641 In the event of the cornpany being wound up. the Itability in respect of the guarantee is limited to £1 per rnembèr of thè charty. EMPLOYEE COSTS unstrICted Funds Restricted frjnds Totsls 2024 Tota15 2023 Wages and salaries SMP recovery & NIC compensation payments Social security costs EmployerAllowance Other pen5ioTh costs 161992 16Z.992 135.763 16441 14.646 15,0001 13.487 1Q808 (S.() 798 16,80B (s.000) 14,798 189,598 189.598 158,252 The averagenumberofperson£ includingp8rt-frmestaff employedon UKcontracts w8s4 {2023."4J No tmstee ordirectorrtceived8nyremunerafyon from the charityin theye8r(20..nJ Qne employee waspaidmore than£60.OGQin theyear{2023.' 1) rhean70untolemployerpenwon costindudedikj resped0lemployeespam0re than £60.000 was£70.420R023.'£10,420) INCOME from donations and legJ¢l•s Unrestrithd Fund5 Restricted ftjnds Totsls 2024 Totals 2023 GOVEKNMENT GRANTS Department of Educatio Nt Department of Education. NI- .5 your choice Departrnent lor the Economy- Sentinus Digital Skills 54.000 54.000 300.000 22,178 20,000 20.000 74.000 74.000 322.178 42 from rharlt4ble •¢tivitiq5 Unrestricted Funds Restricted frjnds Tots15 2024 Totals 2023 CONTRAcrs Belfast Metiopolitan College- Brinytton Engineering UK- Biy Jarq Engineering UK- Tomorw EnyinpEf5 Instituion o f Engineering &Technology Spirit Aerosy5tern5 Queen's University, Belfast Ulster Wool Group Income from Events. Scheme8 Roadshows and Workshops other 27,783 16.500 4,500 5.7Q) 3.520 8.538 1075 75.658 1,000 27.783 1Q500 4.500 5.700 3.520 8,538 2,075 75,658 1.000 10,597 8,932 111531 145.274 145.274 131060 l)iJiiioiid ChertetedAcCouAtaLtsand%witetAudlI0r < Skillci] SlndairHousq 69/iOYAlkJJ BeWAstBTriFE Page 10 of 15 •* )entinus
SENTINUS Notes forming Part of th• Financial Ststem•nts for the year end 31st Marth 2024 {cont'd) from in¥•stmer Unrestricted Funds Restricted funds Tots15 20Z4 Totafs 2023 Bank interest 17,778 17.778 4,018 17.778 17.778 4.018 EXPENDTfuRE on r•ising fvnds Unrestricted Funds Restrirted nds Totsls 2024 Totsls 2023 COSTS OIREcfLY ALLOCATED TO EXPENDITURE ON PAISING FUNDS Promotion and rnarketing expenses Business devetopment 1.129 1.129 4205 1,129 1.129 4,205 52 on charitsble activitie5 Unrestricted Funds Restricted fijnds Totals 2024 Totals 2023 COSTS DJREcfLY ALLOCATED TO EXPENDITURE ON CHARITABLE ACTIVT¥IES Associates Prizes & Bursartes Travel & subsisten Materials Food and accommodation Sundry project costs Registration I subscription fees 95.405 997 21849 29,040 1,014 826 35 95AOS 997 22.849 29.040 1.014 826 35 150.166 210,635 26,795 23,010 7,280 35 267,755 150.166 Unrestrlcted Funds Restrirted luNds Tota15 2024 Totals 2023 SUPPORT COSTS ALLOCATED TO EXPENDITURE ON CHARITABLE AClIVtFIES (see note 6 Prernises General office Information technology Legal and profe5Stonal Salaries, wages and related costs Bank charges Depreciation 23,248 3,509 8,976 23.248 3.509 8.976 25,543 5,816 9,951 146,938 146.938 124.326 182.671 182.671 165.636 TOTAL EXPENDrruRE ON cHARALEAc11VrnEs 332.837 332.837 431391 5J On oth•r ltsn Unrestricted Fund5 Restricted funds Totsls 2024 Tota15 2023 SUPPORT COSTS ALLOCATED TO EXPENDmiRE ON OTHER EMs (see note 6} PrniSeS General office Information technology Legal and professional Salaries, wages and related costs Bank charges Depreclation 7.749 1,170 1992 13,1SI 41660 343 136 7.749 1.170 2,992 13.151 42,660 343 136 6.385 1AS4 13,151 33,908 348 181 68,201 68.201 57,91S Diaiiioii(I CbattetedAcwuntantswLdRwtetwlAudiior '>SkillLii si1I7rHoUs89ll BtsyalATrwvJe BeifwtFTiiFE Page 11 of 15 •* Sentinus
SENTINUS Notes formln9 part of the Financial Stat•m•nts forthe year•nded 31st Marth 2024 (cont'd) ANALYSIS OF GOVEIiNANCEAND SUPPORT COSTS Charitable artivities Other items Tota15 2024 Totals 2023 GOVERNANCE AND SUPPORT COST5 Premises costs General ofFJce tnformation technology Legal and professional Salaries wages and related costs Bank charge5 Depreciation 23.248 3.509 976 7.749 1,170 1992 13,151 41660 343 136 30.997 4679 11.968 13.151 189,598 343 136 31.928 7,270 12,439 13,151 158,234 348 181 146,938 JasedonstaMaL Alkcaiedtootherc05ts 182.671 68,201 250.872 223,551 Net Incomln9 r4sour£es Unrestricted Funds Restricted ffiJnd5 Totals 2OZ4 Totals 2023 Netincomingresourcesarestatedaftercharging. Dépreciation of fixed assets Diamond & Skillen- Auditorfs remuneration Diamond & Skillers- Payroll Bvreau Diamond & Skillen - Accountsncy & management atcounts 136 136 3.600 2.1)00 181 3.6 oob) 2.000 7.500 7.500 7,500 P•nsioA costs The company operated defined contribution schemes in respett of its 5tsff. The schemes and their assets are held by independent manager& The pension charge repTesents agreed employer contriblon$ due from Sentinus and amounted to £14.79812023.' £13,487) N•n Curr•nt assets Fixtures fittings Totals Cort At l April 2023 Additions 165,598 165.598 At 31 March 2024 165.598 165.598 A¢¢umul4feddepreclatl At 1 April 2023 Charge foryear 165,055 136 165.055 136 At 31 Marth 2024 165,191 16S.191 Netbook value." At 31st March 2024 408 At 31st March 2023 543 543 io Recelvablos Totals 2024 Totsls 2023 Tradè debtors Other debtors 46.311 3.361 35,048 113,614 49.672 148.662 l)iaiiiiiiid ehD[teTrdAt0untasanReI1uAlldltor '<Sk-illLI] Su7a1TH0U54sglIolR0AiwjiIC Page 12 of 15 • Sentinus
SEhlTINUS Nates forrnlng part of the Financial Statements forth• y•ar Ond 31st Marth 2024 {cont'd) Cash at bank and In h•nd Totsls 20Z4 Tota15 2023 Pptty Cash Ulster Bank Ltd- Current Account Ulster Bank Ltd- tiquidity ManagerAccount Ulster Bank Ltd- TRO placement Ulster Bank Ltd- 30-day Business Reserve 114 (13.7831 327.847 500,IXIO 16 114 116,4561 925.409 925rt09 16 81{194 1,834A92 ArJt31kM4nh 2024 11767248ROa£17.6714W oltslLwes vnitt7 h•sV Mtbeenpreselltedto the¥nh-paJthts7t L4rn 12 12 Payables: •mountsfalling due within one year Totsls 2024 Totals 2023 Trade creditors Acctued expenses Income in advance 13.396 54573 1.500 33,260 65,108 69,469 98,368 13 FlnancTal Commltments At 31st March 2024 the company has no annual commitments under non<ancellable leases nor any other ffinancial cornmitrnents that are not recognised in the accounts P023.. £nill. Sentinus has entered inl0 a number of long temi contracts forthe supply of services all of which are cancellable. In 2019 the company signed a new S-year lease to rent the prnISeS at 19a Ballinderry Road. ti5bum at an annual rent of £21,000 pa. The potential liabtlity on cancellation of ¢his lease has been feflected in the companls capitsl requirement under its TeseNes policy di5c105ed ifi the Director5. Report OTh pège 3 of these financial statements. 14 Analysis of tharity net •ssets between fvnds unstrICted fijnds Restrirted fvThds Tota15 ZOZ4 fixed Assets cUrntA55et5 Current liabKlities 863.866 169.4691 863.866 (69.4691 794,805 79480S 15 Statement of Funds AtIApr 2023 Investrnnt Gains At31 Mar 2024 Inmrne Exp. TransleTS General fvnd 959.920 219,274 14011671 17,778 794,805 Totsl unre5trictqd 959.9ZO 219.274 1402,167) 17.778 794805 Totsl restricted Total funds 959.920 219.274 (a102.167) 17.7T8 794.805 l)iaiiiond chBrteTrdAtmunrantYandRep5teJAUOItQr '& Skilleii si]iTHou5O9/lO1RojTlATh BelfastmJFE Page 13 of 15 •* Sentinus
SENTINU5 Notes forrning part of the Fln•n¢ial Stthments for theywr •nded 31st March 2024 lcontd) Jn¢om¢ and •xpÈnditure sumrnary 2024 2023 Gross Incom• 237.052 45&256 Resour<•s •Xnded Direct charitable expenditure Administration Costs 150.166 252.001 267,755 227,756 Net {outgoingl 1 Sncomlng r•sourcqs (165.115) 137,2551 (Deficit) forlh• y•ar 1165.115) 137,2551 17 Transfer between funds There were no transfers b&eeTh the funds this attounting year. 18 R¢lat•d Party Transactions There were no transactions with related partie5 in the year. 19 Disclosure of relevant circumstanc•s In common with many other charities of our syze and nature we use our auditors to.. prepare and submit retums to the tax authorities assist with the preparation of the financial ststernent& Bnd pPa and submit payroll calculations to HM Revenue & Custorns. During the year our auditors also assisted with the preparation of quartefy rnanagernent accounts for perusal of the Board. l)iaiiii)iid chart¢dAV1dsandReXeteaAUdl Skillcii si1a1rHO489I1OiROAyFllue Belfa5tThI Page 14 of 15 •* Sentinus
SENTINU5 D¢tsiled Income and expenditur• account fortheyeèr •nd4d 31st March 2024 2024 2024 TURNOVER Income COST OF SALES Project Costs 219,274 454,238 1150.1661 P67.7551 GROSS SURPLUS 69.108 186A83 OTHER NCOME Deposit account interest Sundry income 17.778 4L118 8&886 190,501 EXPENDtruRE Employee costs Rent 189,598 21,¢)Y) 151234 21,000 Rate& water rates and sewera9e costs Insurance Light & Heat Repairs and maintenance Printing, postage and stationery Advert15Lng I PR Business Development Telephone Computer and costs Accountancy and audit Sundry expenses Legal and professional fees Total resourc expended 5,260 256 126 1682 1245 3247 4205 1490 998 1,129 3,672 11,967 13.1 3,897 11439 13.100 52 52 251,522 227227 {164.636) 13fi7261 rinanE• costs Bank charges 343 348 1164,9791 137.0741 Depreciation Fixtu5 and fittings IDEFicfr) I SURPWS 136 181 1165,1151 7,2551 THIS PAGE DOES NOT FORM PART OF THE STATUTORY FINANaAL STATEMENTS l)i<iiiioiid CharteTedAcoJunt4ntsandlLwtetEdAuOitor e Skillcii Si]diT se,89110lPoYX1Anlle Bdfa¥tBn IFE Puge 1Sof 15 •* Sentinus