Northern Ireland Child Minding Association Company Llmited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Unrestricted Restricted funds nds Total funds Totsl funds 2023 Note Income and endowments Charltable activities other tradlng activities Investment income other income 248,902 248,902 218,387 1,926 289,654 217,237 509 2,279 218,387 1,926 Total income 220,313 248,902 469,215 509,679 Expenditure Expenditure on charitable act5vities Total expenditure 281.641 281,641 255.647 255.647 537.288 537,286 557,173 557,173 Net expenditure (61,328) (6,745) (68,073) {47,494) Transfers between funds (6,745) 6.746 Net movement in funds (68.073) (68,073) (47,494) ReconGillatlon of funds Total funds brought forward Total funds carried forward 116.131 48,058 116.131 48.058 163,625 116.131 The statement of flnancial actlvitles Includes all gains and losses rewgnlsed in the year. All income and expenditure derive from continulng aclivltie5. The note5 on pages 20 to 30 form part of these financlal statements. 17
Northern Ireland Chlld Minding Association Company Limited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Fixed assets Tanglble fixed assets 14 1,1B4 Currgnt assets 15 Cash at bank and In hand 25.1 470,414 495,570 13.714 510,165 Credkors: amounts falling due within one year Net current assets Tolal assets less ¢unEnt liabiaties Net assets 17 447,512 48,058 48,058 48,058 114,967 116,131 116,131 Funds of the charity Unrestiicted funds 48,058 48,058 116,131 116,131 Total charity funds 20 Thes8 financial statements have been prepared in aecoTdanc8 wlth the provisions app]icabl8 to companles subjectto the smaEI companies. regime. Th8se financial statements were approved by the board of trustees and authorised for issue Dn 18 Decenknr 2024. aftd are signed on behalf of the board by: N Shearer (freasuref) Trustee M lfjnghan (chairpeOn) Tlustee The notes on pages 20 to 30 form partof theseflnan¢lal ststement% 18
Northern Ireland Child Minding Association Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Note Cash flow5 from operating activities Net expenditure (68,073) (47.494) Adjustments for.. Depreclation of tangible fixed assets other inter8St receivable and similar incorne Interest payable and similar charges Accrued expenses 1,164 11.926) 4,170 352 1,472 (509) 3.623 314 Ghange8 in.. Trade and other debtors Trade and other creditors (11,442) (1,410) (77.165) 3.861 {188) (38.921) Cash generated from op8rations Interest paid Interest received (4,170) 1.926 (3,623) 509 Net cash used in operating activilies (19.409) (42,0351 Net decrease In cash and cash equlvalents Cash and cash equlvalents at beginning of year Cash and cash equlvalents at end of year (79,409) 197,848 118.439 (42,035) 239,883 16 197,848 The notes on pages 20 to 30 foTm part of these financial statements. 19
Northern Ireland Child Minding Association Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General infonnatlon The charlty is a public benefit entity and a private company limited by guarantee. registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered offic8 is NICMA. Elizabeth House. 116-118 Holywood Road, Belfast, BT4 1 NY. Statement of compllance These financlal statements have been pPared in compliance with FRS 102, 'The Financlal Reporting Standard applicable in the UK and the Republic of Ireland,. Ihe Statement of Recommended Practice applicable to charities pparIng their accounts in accordance with the Financial Reporting Slandard appllcable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act (Northern Ireland) 2008. The charity meets Ihe definition of a public benefit entlty under FRS 102. Accounting policies Basls of preparatlon The financial statements 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 expenditure. The financial statements are prepared in sterling. which is the functional currency of the entity. Golng concem There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estlmatlon uncertalnty The preparation of the financial statements requires rnanagement lo rnake judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accountlng Unreslricted funds are available for use at the discretion of Ihe trustees to further any of the charity's purposes. Deslgnated funds are unrestricted funds eamatked by the trustees for partlcular fubjre project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 20
Northern Ireland Child Minding Association Company Limited by Guarantee Notes to the Financial Ststements fcontinu Year ended 31 March 2024 Accounting pollcies (contlnugd) Incomlng resources All incoming resources are included in the statement of financial activities when 8ntitlement has passed to the charity., it is probable that the economic benefits associated with the transacllon will flow to Ihe charity and the amount can be reliabty measured. Th8 following specffjic policie5 are applied to particular categories of income: income from donations or grants Is recognised when there is evidence of entitlement to the glft, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is astablished. Income from donated goods is measured at the fair value of the goods unless thls 15 impractical to measure reliably, in whi¢h case the value is derived from the cost to th8 donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if Ihe value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services ts re(wnised with the deliv8ry of the contracted service. This is classified as unreslricted funds unless there is a conlractual requirement for it lo be spent on a parlicular purpose and relurned rf unspent. in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates- expenditure on raising funds includes the c051s of all fundraising activities. events, non-charitable trading activities, and the Sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further Its charitable alms for the benefit of its beneficiaries. inGluding those support costs and costs relating to thg govemance of the charity apportioned to charitable activities. other expenditure includes a51 expenditure that Is neither related to raising funds for the charity nor part of its expenditure on charitable activiti8S. All costs are allocated to expenditure categories refiecling the use of the resource. Direct costs attributsble to a single activity are allocated directly to that activity. Shared cosis are apportioned baeen the activlties they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any acoumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value al the date of revalualion less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 21
Northern Ireland Child Minding Association Company Limited by Guarantee Notes to the Financial Statements (contlnu8d) Year ended 31 March 2024 Accountlng pollcles (¢(Jntlnued) Tanglble assets (contlnued) An increase in the carrying amount of an assel 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 stalement 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 which it offsets any Previous revaluation galn, in which case the Ioss is shown within other recognised gains and losses on the statement of financial activities. Depreclatlon Depreciation is calculated so as to write off the cost or valuatlon of an asset. less its residual V81ue. over the useful economic life of that asset as follows: Fixtures and fittings 25% stralght line Impalrment of flxed assets A review for indicators of impairment is carried out at each reporting date, wtth the recoverable amount being estimated where such indicators exist. Where the carrying value excegds the recoverable amount, the asset is impaired accordingly. Prlor impairments are also reviewed for possible reversal at each reporting date. For Ihe purposes of impairment testing. when it 15 not possible to estimate the recoverable arnount of an individual asset. an estimate is made of the recoverable amount of the ca5h-generating unit to which the asset belongs. The cash-generaling unit is the smallest identifiable group of assets that includes the asset and generates Ga5h inflows thal largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill. the goodwill acquired in a business combination is. from the acquisition date, allocated lo each of the Cashenerating units that are expected to benefit from the synergies of the combination. irrespectrve of whether other assets or liabilities of the charity are assigned to those units. Flnancial Instruments A financial asset or a financial liability Is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financlal instruments are initially recognksed at the amount recervable or payable includlng any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other Consideration expected to be pald or received and not discount8d. Debt instruments are subsequenlly measured at amortised cosL 22
Northern Ireland Child Minding Association Company Limited by Guarantee Notes to the FinanGial Statements {¢onOftued) Year ended 31 March 2024 Accountlng policies (conllnued) Financlal Instruments (conllnu•d) Where investments in share5 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 recogni5ed in Income and expenditur8. All olher 5uGh investments are subsequently measured at cost less impairment. other financial instruments. including dertvatives. are initially recognised at lalr value, unless payment for an asset is deferred beyond normal business lerms 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 payment5 discounted at a market rate of interest for a similar debt instrument. Other financial inslnjments are subsequently measured at fair valug, with any changes recognised in the statement of financial acllvities. with the exception of hedging instruments in a designated hedglng relationship. Financial assels that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objeclive evidence of impairment, an impalrment loss is recognised under the appropriate heading In the statement of financial actlvlties In whlch the initial galn was recognised. For all equity instruments regardless of signtficance, and other financial assets that are Individually significant, these are assessed individually for impairment. Olher financial assets are either assessed individually or grouped on the basis of sinilar credit risk Gharacteristics. Any reversals of impairrnent are recognised immediatety. to the extent thal the reversal does not result in a carrying amount of the finanGlal asset that exceeds what the carrying amount would have been had the impalmient not previousty been recognised. Deflned contribution plans Contributions to defined contribution plans are recognised as an expense in th8 period in which the related service is provided. Prepaid contrlbutions are recognised as an asset to the extent that the prepaymenl wlll lead to a reduction in future payments or a cash refund. When contrlbutions are not expected to be settled wholly within 12 months of thè end of the reporting dale in which the employees render the related service. th8 liability is measured on discounted present value basis. The unwinding of the discount is recognised as an expons8 in the period in which it arises. Limited by guarantee The Charity is a company Ilrnited by guarantee and has no share capital. In the event of the charity belng wound up, the liability in respect of the guarantee is limited to £1 per member of the charlty. 23
Northern Ireland Child Minding Association Company Limited by Guarantee Notes to the Financial Staternents (confln Year ended 31 March 2024 Charltable activities Unreslrict8d Funds Restricted Total Funds Fund5 2024 Pathway fund Department of Health Southern Health & Soclal Car& Trust Surestart Health and Social Care Board Jobstart Childcare Parlnership Northern Chlldcare Partnership Early Years Development Fund Westem Childcare Partnership Early Years Development Fund Mid&East Antrim Borough Council Halifax - Cost of Living Halifax Midulsler CCP Makaton 28,036 27,418 27,086 22,671 106,737 28.036 27.418 27,086 22,671 106,737 22.500 22,500 1,000 1,000 5.500 5.500 5,445 2,509 248.902 5.445 2,509 248.902 Unrestricted Funds Restricted Total Funds Funds 2023 Pathway fund Department of Heallh Southern Health & Social Care Trust Surestart Health and Social Care Board Jobstart Childczre Partnership Northern Childcare Partnership Early Years Development Fund Western Childcare Partnership Early Years Development Fund Mid&East Antrim Borough Council Halifax - Cost of Living Halifax Mrdulster CCP Makaton 29.791 54,836 25,787 22.466 106.737 5,570 22,500 29.791 54.836 25.787 22.466 106,737 5.570 22,500 1.807 1,807 4,107 6.050 4,107 6,050 500 4,058 5,445 500 4.058 5.445 500 289,154 289,654 24
Northern Ireland Child Minding Association Company Limited by Guarantee Notes to the Financial Statements (cQnb'nuj Year ended 31 March 2024 Other trading actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Members. subscriptions Training and service income Publications 181,866 11,720 24,801 181.866 11.720 24,801 218,387 192,030 11.644 13,563 217,237 192,030 11,644 13.563 218,387 217,237 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest 1.926 1.926 509 509 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Other income 2.279 2.279 Expendlture on charltable actlvltjes by actlvlty type Aclivtties undertaken directly Support costs Total funds 2024 Total fund 2023 Membership, training & support for childminders Governance costs 415.608 101.001 20,679 121,680 516.609 20,679 534,622 22.551 415.608 537.288 557,173 10. Analysis of support costs Total 2024 Total 2023 staff costs Premises Communications and IT General office Governance costs 33,580 51,248 7.774 8.399 20,679 33,580 51,248 7,774 8,399 20.679 33,276 51,166 9.633 4.380 22.551 121.680 121.680 121,006 25
Northern Ireland Child Minding Association Company Llmited by Guarantee Notes to the Financial Statements (eontinuedj Year ended 31 March 2024 11. Net expendlture Net expenditure is stated after chargingl(crediting)'. 2024 2023 Depreciation of tangible fixed assets Fees payable for Ihe audit of the financial statements 1,164 5.837 1,472 5,451 12. Staff costs The total stsff costs and employee benefrts for the reporting period ar8 an8lysed as follows: 2024 2023 Wages and salaries Social security costs Employer contributions to pension plans 263,885 17.256 20.566 272,092 17,885 21,207 311,184 301.707 The average head count of employees during the year was 13 (2023: 15). The average number of full-time equivalent employees during ihe year is analysed as follows: 2024 2023 Number of staff 13 15 No employee received employee benefrts of more than £60.000 during the year (2023: Nil). Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning. directing and controlling the activitie5 of the charFty. The total compensation paid to key management personnel for seniices provided to the charty was £95,938 (2023'.£95.985). 13. Trustee remuneratlon and expense5 The charlty trustees were nol paid or received any other benefits from employment with the Charity in the year (2023- £Nil>. No trustee was relmbursed travel expenses in the year (2023'.£Nil).No charily trustee received payment for professional or other services supplles to the charily (2023:£NII). 28
Northern Ireland Child Minding Association Company Llmited by Guarantee Notes to the Financial Statements (conflnuedj Year ended 31 March 2024 14. Tangible fixed assets Fixtures and fittings Cost At 1 April 2023 and 31 March 2024 Depreclatlon At 1 April 2023 Charge forthe year At 31 March 2024 18,919 17,755 1,164 18,919 Carrylng amount At 31 March 2024 At 31 March 2023 1,164 15. Debtors 2024 2023 Trade debtors 25,156 13.714 16. Cash and cash equlvalents Cash and cash equivalents comprise the following: 2024 2023 Cash at bank ar in hand Bank overdrafts 470.414 496,451 (351.975) {298,603) 118.439 197,848 17. Credltors: amounts falling due wlthln one year 2024 2023 Bank loans and overdrafts Trade creditors Accruals and defeed income Other creditors Credit Card 351.975 3,525 90.514 71 1.427 298.603 8,881 87.452 215 47 447,512 395,198 27
Northern Ireland Child Minding Association Company Limited by Guarantee Notes to the Financial Staternents (conflnued) Year ended 31 March 2024 18. Deferr8d income 2024 2023 At 1 April 2023 Amount released to Income Amount deferred in year At 31 March 2024 82.223 (82.223) 84.933 82,223 87,822 (87,822) 82.223 84,933 19. Pensions and other post retlremenl benefits Defined contribution plans The amount recognised In income or expenditure as an expense In relatlon to defined contributlon plans was £20,56612023: £21.207). 20. Analysls of charltable funds Unrestrlcted funds At 31 March 202 At 1 April 2023 Income Expenditure Transfers General funds Designated Fund 109.131 7.000 220,313 (281,641) (6,745) 41,058 7.000 116.131 220.313 (281,641) (6,745) 48,058 At 31 March 202 At 1 April 2022 Income Expenditure Transfers General funds Deslgnaled Fund 156.625 7.000 220.525 (267,398) (621) 109.131 7,000 163.625 220.525 (267,398) (621) 116,131 The purpose of the designated fund is for the future website re-design costs. 28
Northern Ireland Child Minding Association Company Llmited by Guarantee Notes to the Financial Statements (¢onllnu8d) Year ended 31 March 2024 20. Analysls of charitsble funds (contlnued) Restrlcted funds At 31 March 202 1 April 2023 Income Expgnditure Transfers Sure Start Programmes SHSCT HSCB Funding (including Training) Department of He8lth HSCB via CCP Pathway Fund Jobstart Mid&East Halifax Mid Ulster Pre-Reglstration GOLD Shantallow Conference Fund Training Grant CCP Makaton 27.086 (27.086) 106.737 27.418 (106.737) (27,418) 28.036 (28.036) 5.500 {5.500) 5,445 22,500 13,207 9,059 1,000 405 2,509 (12,190) (22,500) (13.207) (9.059) (1.000) (405) (2.509) (255,647) 6,745 248.902 6,745 At 31 March 202 At 1 April 2022 Income Expenditure Transfers Sure Start Programmes SHSCT HSCB Fundlng (including Training) Departmenl of Health HSCB vta CCP Pathway Fund Jobstart Mid&Ea5t Halif8X Mid Ulster Pre-Registration GOLD Shantallow Conference Fund Training Grant CCP Makaton 22.466 25,787 (22,4861 (25,787) 20 106,737 54,836 28.414 29,791 5,570 6,050 4,058 5,445 (106,737) (54.836) (29,015) (29,791) (5,570) (6,050) (4.058) (5.445) 601 289,154 (289,775) 621 29
Northern Ireland Child Minding Association Company Llmited by Guarantee Notes to the Financial Statements fconfinued) Year ended 31 March 2024 21. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Credllors less than 1 year Net assets 495,570 495,570 (447.512) (447,512) 48,058 48,058 Unrestricted Totsl Funds Funds 2023 Tangible fixed assets Current assels Creditors less than 1 year Net assets 1,164 1,164 510,165 510,165 {395,198) (395.198) 116,131 116.131 22. Taxatlon The Company is a regislered charity. and as such is entitled to tax exemptions on income and profits in furtherance of the charity's primary objectives. 23. Ethlcal standards In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist wilh the preparation of the financial 5tatem6nts. 24. Analysis of changes in net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash al bank and in hand Bank overdrafts 496,451 (298,603) 197.848 126.037) 470,414 (53.372) (351,975) (79.409) 118,439 25. Conlingencles A contingent liabllity exists lo repay grants received should certain conditions not be fulfilled by the charity. In the opinion of the Trustees. Ihe terms of the letters of offer have been, or will b8, complied wlth and no liablllly is expected. 26. Related partles There were no related party transactions incurred during the year (2023.. £Nil). 30