Icare Incorporated
Directors, report and unaudited
financial statements for the
year ended 31 October 2023
Registration No: N1609582 {Northern Ireland)
Charity No: xr36934

Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Contents
Page(s)
Company information
Strategic report
Directors, report
Accountants, report
Statement of Financial Activities
Statement of Financial Position
Notes to the financial statements
10-14
fh.ASM

Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Page I
Company Information
Dirertors
Accountants
Gerald Mackle
Mairead Mackle
Caroline Rafferty
ASM IMI Ltd
Chartered Accountants
The Diamond Centre
Market Street
Magherafelt
Registered Office
Bankers
Manor House Gate Lodge
3 Ballyards Road
Milford
Armagh
Barclays Bank PIC
Leicester
Leicestershire
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Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Page 2
Strategic report
The directors present their Strategic Report for the year ended 31 Ortober 2023.
Principal artivities
The principal activity of the Company is that of a charity whose aim is to raise funds to prevent and relieve
poverty, promote social inclusion. equality and diversity for the public benefit raising the value of social care,
and other charitable purposes which are beneficial to the community.
Review of activities and future developments
The results for the year are set out in the Statement of Financial Activities on page 7 and in the related notes.
Both the level of business and the year end financial posltion were considered sat15factory given the charitable
objects of the Company. The dirertor5 expect that the current level of activity will be improved in the
foreseeable future.
The Statement of Financial Attivities shows no movement in restricted funds and a net decrease in
unrestrirted funds of £13,477
Principal risk5 and uncertaintie5
The key business risks and uncertainties affecting the Company are securing grant funding and donations.
The Companls management endeavour to mitigate these risks by implementing regular strategic and
operational reviews.
Key performance indicators
The Company's directors are of the opinion that analysis using key performance indicators is not necessary for
an understanding of the development. performance or position of the business.
Financial risk management
The Company does not actively use financial instruments as part of its financial risk management.
The Company is not exposed to credit. liquidity or foreign exchange risk.
Future outlook
The directors are of the opinion that the current level of performance will be improved in the future, and it is
the directors, intention to develop the present attivities of the Company.
Approval
The Strategic Report was approved by the Board of Directors on 18 October 2024 and signed on its behalf by:
VMA£klG
Mairead Mackle
Director
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Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Page 3
Directors, report
The directors present their report and the unaudited financial statements for the year ended 31 October 2023.
Re5uIt5
The Statement of Financial Attivities for the year is set out on page 7.
Directors
The directors of the Company at 31 Ortober 2023, who have all been directors for the whole of the year ended
on that date, are listed on page l.
Financial Instruments and risk management
Information on the use of financial instruments by the Company and its management of financial risk are
discussed in the Strategic Report.
Taxation 5tatU5
The Company is a close company as defined by the provisions of the Income and Corporation Taxes Act 1988
and this position has not changed since the end of the financial year.
Corporate govemance
Icare Incorporated is a company limited by guarantee and as such it does not have share capital.
Every director being a member undertakes to contribute to the assets of the Company, in the event of same
being wound up while he is a member. or within one year after he ceases to be a member, for payment of
debts and liabilities of the Company contracted before he ceases to be a member, and of the costs. charges
and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such
amount as may be required not exceeding £l.(M).
The Company is registered with the HM Revenue & Customs as a charitable body for taxation purposes IHM
Revenue & Customs Charity No. Kr369341. The Company was incorporated on 20 Ortober 2011 and its
governing instruments are the Memorandum and Articles of Association. The address of the Companws
registered office, which is also its principal address, is given on page l.
Remunerdtion
The directors of the Company received no remuneration other than the reimbursement of out of pocket
expenses.
Commentary on the financial Statements
Financial statements presentation
The Companvs financial statements have been presented in the format set out as best practice by the
Statement of Recommended Practice I"SORWI "Accounting by Charities" Issued by the Charity Commissioner5
in England and Wales.
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Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Page 4
Directors, report {continued)
The Statement of Financial Activities I"SOFA"I focuses on showing the total incoming resources. both revenue
and capital. which have been made available to the Company during the year and the way in which those
resources have been used, whether as direct charitable expenditure in carrying out and supporting the
CompanWs community driven activities, or in the management and administration of the Company itself. The
SOFA also shows those incoming resources for the year received from sources which place restrictions on the
way in which the Company can use the funds, and the level of incoming resources that can be used by the
Company without restriction, within the CompanV5 charitable objects.
Changes in fixed assets
The movements in fixed assets during the year are Set out in note 10 to the financial statements.
Reserves
At 31 October 2023 the Company had net liabilities of £7,413 12022.. net assets of £6.0651.
Directors, responsibilities ststement
The directors are responsible for preparing the Strategic Report, the Directors. Report and the financial
statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the
directors have elected to prepare the financial statements in accordance with United Kingdom Generally
Accepted Accounting Prartice Iunited Kingdom Accounting Standards and applicable lawl. Under company
law the director5 must not approve the financial Statements unless they are satisfied that they give a true and
fair view of the state of the affairs of the Company and the profit or105s of the Company for that year.
In preparing these financial statements, the directors are required to=
select suitable accounting policies and then apply them consistently:
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed. subject to any material
departures, disclosed and explained in the financial statements- and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Company will continue in business.
The directors are responsible for keeping adequate accounting record5 that are sufficient to show and explain
the Companws transactions and disc105e with reasonable accuracy at any time the financial p051tion of the
Company and 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.
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Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Page 5
Directors, report {continued)
Special provisions relating to small sized companie5
This report has been prepared in accordance with the special provisions of Part XV of the Companies Act 2006
relating to small sized companies.
Approval
The Directors. Report was approved by the Board of Directors on 18 October 2024 and signed on its behalf by..
v￿￿1r￿a VIIA£kl
Mairead Mackle
Director
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Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Page 6
Chartered Accountants. report to the Board of Directors on the unaudited
financial statements of Icare Incorporated
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies
Act 2006 we have compiled the financial statements of the Company which comprise the Statement of
Financial Activities, the Statement of Financial Position and the related notes from the accounting records and
information and explanations you have given to us.
This report is made to the Compan(5 Board of Director5, a5 a body. in accordance with the terms of our
engagement. Our work has been undertaken so that we might compile the financial statements that we have
been engaged to compile, report to the Companrfs Board of Dirertor5 that we have done so, and State those
matters that we have agreed to state to them in this 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 Company and the
Company's Board of Direttors, as a body, for our work. or for this report
We have carried out this engagement in accordance with guidance issued by the Institute of Chartered
Accountants in Ireland and have complied with the ethic31 guidance laid down by the Institute relating to
members undertaking the compilation of financial statements.
You have acknowledged on the Statement of Financial Position for the year ended 31 October 2023 your duty
to ensure that the Company has kept proper accounting records and to prepare financial statements that give
a true and fair view under the Companies Act 2006. You consider that the Company is exempt from the
statutory requirement for an audit for the year.
We have not been instrurted to carry out an audit of the financial ststements. For thi5 reason, we have not
verified the accuracy or completeness of the accounting records or inforniation and explanations you have
given to us and we do not, therefore. express any opinion on the financial statements.
ASM IMI Ltd
Chartered Accountants
The Diamond Centre
Market Street
Magherafelt
18 October 2024
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Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Page 7
Statement of Financial Activities
Notes
Unre5trirted
fvnds
Restricted
funds
Total
2023
Total
2022
Incoming resources
Donations
Fund raising
Total incoming resources
46,365
46,365
31,418
46,365
46,365
31,418
Resources expended
Direct expenditure
Management and administration
Total re50urce5 expended
43,887
15.955
59.842
43.887
15.955
59,842
28,737
10,089
38,826
Net movement in funds
113,477}
113.477)
17,4081
Reconciliation of movement in funds
At l November 2022
Net movement in funds for the year
At 31 October 2023
6,065
113.4771
17,4131
6,065
113,4771
{7,413)
13,473
17,4081
6,065
14
Net rnovement in funds
Fixed
assets
funded
charitable expenditure
Net movement in funds available for
future activities
113.477}
113,4771
17,4081
via
dirett
113,4771
113.477)
17,4081
All amounts above relate to the continuing operations of the Company.
The notes on pages 10 to 14 form part of these financial statements
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Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Page 8
Statement of Financial Position
Notes
2023
2022
Fixed asset5
Property. plant and equipment
io
1,436
1.436
10,256
10,256
Current assets
Trade receivables
Cash at bank and in hand
li
169
1.490
1,659
2,895
400
3,295
Creditors: amounts falling due within one year
12
9,811
6,512
Net current a55ets1lliabilities)
(8,152}
13,2171
Total assets le55 current liabilitie5
(6,716}
7,039
Deferred income
13
697
974
Net assetsl(liabilitiesl
(7,413>
6,065
Funds employed
Unrestricted funds
Restricted funds
14
14
(7.413}
6,065
(7,413}
6,065
The directors have taken advantage of the exemption conferred by Section 477 of the Companies Act 2006 not
to have these financial statements audited and confirm that no notice has been deposited under Article 476 of
the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that-
the Company keeps accounting record5 which comply with Section 386 of the Companies Act 2006;
and
the financi31 statements give a true and fair view of the state of affair5 of the Company as at 31
October 2023 and of its loss for the year then ended in accordance with the requirements of Section
396, and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the Company.
These financial statements have been prepared in accordance wth the special provisions of Part XV of the
Companies Act 2006 relating to small sized companies.
The notes on pages 10 to 14 form part ofthese financial statements
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Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Page 9
Statement of Financial Position
The financial statements on pages 7 to 14 were approved and authorised for issue by the Board of Directors on
18 October 2024 and were signed on its behalf by=
VMALkl
Mairead Mackle
Director
Registration Number: N1609582
rA,.ASM

Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
The notes on pages 10 to 14 form part of these financial statements
Page 10
Notes to the financial statements
l. Company Inforrnation
Legal 5tatU5
Icare Incorporated 15 a private company limited by guarantee e5tabli5hed in Northern Ireland.
Registration number and registered office
The Companvs registered office address and registration number is set out on page l.
Functional currency
The financial statements are prepared in sterling (£1 which is the funLtional currency of the Company.
Basis of preparation of financial statements
Applicable legislation and accounting standard5
These financial statements have been prepared in accordance with=
applicable UK accounting standards including Section IA of FRS 102 The Financial Reporting Standard
applicable in the UK and Republic of Ireland-
the historical cost basis of accounting- and
the Companie5 Act 2006.
The financial statement5 have been prepared in accordance with the recommendation5 contained in
Statement of Recommended Practice I"SORPI "Accounting by Charities"
Going concern
The Company made a loss during the year ended 31 October 2023 but at that date, the Company's assets
exceeded its liabilities.
After making enquirie5. the directors have a reasonable expectation that the Company has adequate resource5
to continue in operational existence for the foreseeable future. Accordingly they continue to adopt the going
concern basis in preparing the financial statements.
Judgement and key sources of estimation uncertainty
Judgements and key sources of estimation uncertainty are continually evaluated and are based on historical
experience and other factors, including expectations of future events that are believed to be reasonable under
the circumstances.
Critical judgements used in the application of accounting policies
There were no critical judgements used in the application of accounting policies and the preparation of the
financial statements.
Critical accounting estimates and assumptions
There were no critical accounting estimates or assumptions used in the application of accounting policies and
the preparation of the financial statements.
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Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Page 11
Notes to the financial statements (continued)
Principal accounting policies
Propertyj plant and equipment
Property, plant and equipment are stated at purchase cost, net of depreciation and any provision for
impairment.
Depreciation is calculated so as to write off the c05t of property, plant and equipment, less their estimated
residual values, on a straight line basi5 over the expected useful economic lives of the assets concerned. The
principal annual rates used for this purpose are as follows=
Office equipment
Fixtures & Fittings
25
25
Income
All incoming resources are recognised in the Statement of Financial Activities when the conditions for receipt
have been met and there is reasonable assurance of re￿ipt. When an incoming resource relating to a future
accounting year is received, the amount is treated as deferred income and it is included within creditors in the
Statement of Financial Position.
Exemption for qualifying entities under FRS 102
The Company is exempt from the requirements of FRS 102 to present a Statement of Cash Flows on the
grounds that it is a small sized company.
Analysis of total resources expended
Staff costs Depreciation
Other costs
Total
2023
Total
2022
Direct charitable expenditure
Management and administration
43,887
7,136
51,023
43,887
15,955
59,842
28,737
10,089
38,826
8,819
8,819
Direttors, emoluments and key management compensation
No emoluments were paid to the directors during the year. The directors are the key management of the
Company.
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Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Page 12
Notes to the financial statements (continued)
Employee information
The average number of persons (including executive directors) employed by the Company during the year was..
2023
2022
Number
Number
y activity
Administration
2023
2022
Staff costs (for the above persons)
Wage5 and salaries
Social security costs
13,364
13,364
Net movement in funds
2023
2022
Net movement in funds IS stated after charging:
Depreciation charge for the year-
Tangible owned fixed assets
Accountants, remuneration
8.819
3.000
8,681
2,5LKJ
Taxation
No provision for taxation is required as the Company has charitable status approved by HM Revenue &
Customs.
10. Property, plant and equipment
Fixtures &
Fittings
Office
equipment
Total
Cost
At l November 2022
Additions
Disposals
At 31 October 2023
34,150
5,147
39,297
34,150
5,147
39,297
Accumulated depreciation
At l November 2022
Charge for the year
Disposals
At 31 October 2023
24,895
8,532
4,146
287
29,041
8,819
33,427
4,434
29,041
Net book value
At 31 October 2023
723
713
1,436
At 31 October 2022
9,255
I,ooi
10,256
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Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Page 13
Notes to the financial statements (continued)
11. Trade receivables
2023
2022
Amounts fallingdue within oneyear
Other debtors
Owed by related undertakings Inote 181
2,895
169
169
2,895
Trade receivables are stated after provisions for impairment of £NIL12022- £NILI.
12. Creditors: amounts falling due within one year
2023
2022
Trade creditors
Owed to directors
Accruals
5,223
2,098
2,490
9,811
2,434
2,098
1,980
6,512
13. Accruals and deferred income
Capitsl
grants
Total
Cost
At l November 2022
Additions
Disposals
At 31 October 2023
1,108
1,108
1,108
1,108
Amortisation
At l November 2022
Charge for the year
Disposals
At 31 October 2023
134
277
134
277
411
411
Net book value
At 31 October 2023
697
697
At 31 October 2022
974
974
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Icare Intorporoted
Unauditedfinancialstotement5Aor the year ended31 Ortober 2023
Page 14
Notes to the financial statements (continued)
14. Analysis of net assets between funds
Unrestrirted
funds
Restricted
funds
Total
2023
Total
2022
Tangible fixed assets
Net current assets/lliabilitiesl
Long term liabilities
Total net assetsllliabilitiesl
1.436
18,1521
16971
17,4131
IA36
18,152)
16971
17,4131
10,256
13,2171
19741
6,065
15. Contingent liabilities
The Company had no contingent liabilities at 31 Ortober 2023 or at 31 October 2022.
16. Capital commitments
There were no capital commitments at 31 October 2023 or at 31 October 2022.
17. Capitsl
The Company is a company limited by guarantee and as such it does not have share capital.
Every director being a member undertakes to contribute to the assets of the Company, in the event of same
being wound up while he is a member. or within one year after he ceases to be a member, for payment of
debts and liabilities of the Company contrarted before he ceases to be a member, and of the costs, charges
and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such
amount as may be required not exceeding £l.(M).
18. Related party tran5artions
The transactions during the year with related undertakings and the amounts owed by/ltol related
undertakings at the start and end of the year are analysed as follows-
Name of group undertaking
Atl
Loan
Balance
November
adwdncesl
written off
2022 (repayments) as exception
Interest
charged/
(credited)
At31
October
2023
Other related undertakings
Totsl
169
169
169
169
Interest has not been charged on outstanding amounts.
19. Approval of the financial statements
The Board of Directors approved the financial statements for issue on 18 October 2024.
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