MAINSTAY DRP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted Restn'cted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Notes Income and endowments from: Donations and legacies Charitable activities Investmenls Other income 74,055 4,122,657 4,600 6,000 74,055 490,473 4.613,130 4,600 6,000 149,639 3,815,920 149,639 541,816 4,357.736 Total income 4,207,312 490,473 4,697,785 3,965,559 541.816 4,507,375 enditure on: Charitable activities 3,775,665 489,513 4.265,178 3,800,710 541,816 4,342.526 Net income for the yearl Net movement in funds 431,647 960 432,607 164,849 164,849 Fund balances at 1 April 2022 908,106 908,106 743,257 743,257 Fund balances at 31 March 2023 1,339.753 960 1,340,713 908,106 908,106 The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continLting activities. The statement of financial activities also complies with the requirements for an income and expenditu account under the Companies Act 2006. 14-
MAINSTAY DRP BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Notes Flxed assets Tangible a5S8Is 12 19.017 17.522 Current assots Stocks Debtors Cash al bank and in hand 13 14 2,703 418.355 1.119.501 240.171 906.195 1,540.559 1.146.366 Creditors: amounts lalllng due within one year 15 1218.863) 1255 782> Net current assets 1,321,696 890,S84 Total as$ét$ le$s current liabilities 1.340.713 908,106 Income funds Reslricled funds Unreslricled funds 16 960 1339.753 908.106 1340.713 908,106 The finanrial slaternents were approved by the Truslees on 22 November 2023 Or P Moore Trustee Company registration number N1024793
MAINSTAY DRP STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Notss Cash flows from operating a¢tivities Cash generated from operations 21 214,259 644.287 Investing activities Purchase of tangible fixed assets Proceeds from disposal of langible fixed assets Investment income received (11,553) (3,636) 6,000 4,600 Net cash used in investing activities (953) (3,636) Net cash used in rtnancing activities Net increase in cash and cash equivalents 213.306 640,651 Cash and cash equivalents at beginning of year 906.195 265,544 Cash and cash equivalents at end of year 1,119.501 906,195 16-
MAINSTAY DRP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Charity information Mainstay DRP Is a private company limited by guarantee incorporated in Northern Ireland. The registered Offi is 2 Cumulus Heights, Ballyvange, Downpatrick, Co Down, BT30 6. 1.1 Accounting convention The financial statements have been prepared in accordance with the chaTIIy'5 Memorandum of AssoG131ion, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Charities SORP "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 UK and Republic of Ifeland (FRS 102)" (effective 1 January 2019}. The harity is a Public Benefil Entrty as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of Ihe charity. Monetary amount5 in these financial statements are rounded to the nearest £. The financial statement5 have been prepared under the hislorical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern Al the time of approving the finarcial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable fulure. Thus the Iruslees continue to adopt Ihe going concem basis of accounting in preparing the financial statements. 1.3 Charitsble funds Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally ertttled to it after ar*y performance conditions have been mel, the amounts can be measured reliably, and il is probable that inGome will be received. Cash donations are recognised on receipi. other donations are recognised once the charsty has been notified of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in relation to donaticns received under Gift Aid or deeds of covenant is recognised at the time of the donation. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a third party, it is probable that a transfer of economic benefrts will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classffied by actlVlty- The costs of each activity are made up of the total of direct casts and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to Ihat activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activilies on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on Ihe portion of the asset's use. 17
MAINSTAY DRP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies {Contlnued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and 5ubsequenUy measured al cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as lo write off the cost or valuation of assels less their residual values aver their seful lives an the following bases.. Fixtures and fittings Computers Motor vehicles 200A per annum straight line 200/0 per annum straight line 200/0 per annum straight line The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the Carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impaimient of fixed assets Al each reporting end dale, the charity reviews the carrying amounts of its tangible assets to delemiine whether there is any indicabon that those assets have suffered an impairmenl loss. If any such indication exists. the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.8 Stocks Stocks are staled at the lower of cost and estimated selling price less costs lo complete and sell. Cost comprises direct materials and, where applicable: direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured Ihe lower of replament Gost and cost. Net realisable value is the estimated selling price less all eslimated costs of completion and cosls to be incurred in marketing, selling and distribution. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid investments with original malurities of three months or less, and bank overdrafls. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Sectior* 12 'other Financial Instruments Issues, of FRS 102 to all of rt5 financial instrumenls. Financial inslruments are reGogni5ed in Ihe charity's balance sheet when the charity become5 paty to the contractual provisions of the instrument. Financial assets and liabilities are offsel, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to reali5e the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised Gost using the effeclive interest method unless the aTrangement conslitules a financing Iransaclion, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 18-
MAINSTAY DRP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Icontinued) Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaclion price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a markel rate of interest. Financial liabilities classified as payable wilhin one year are not amortised. Debt instruments are subsequently Caled al amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due wilhin one year or less. If not, they are presented as non-current liabilities. Trade credrtors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charty's contractual obligation5 expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday enlitlement 15 recognised in the perrod in which the employee's servitss are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or lo provide termination benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease. 1.13 Operating leases Rentals under operating leases are charged to the Statemenl of Financial Activities incorporating Income and Expenditure Accounl on a straight line basis over the lease term. Critical accounting estimates and judgements In the application of the charity's accounting policies, the truslees are required to make judgements, estimates and a55umplions about the c8rying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and olher factors that are considered to be relevant. Actual results may diffe¥ from these estimates. The estimates and underlying assumpiions are reviewed on an ongoing basis. Revisions to accounling estimates are recognised in the period in which Ihe estimate is revtsed where the revision affects only that period, or in the period of the revision and fvture periods where the revision affects both current and future pefiods. 19-
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MAINSTAY DRP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Investments Unrestncted funds Totsl 2023 2022 Interest receivable 4.600 Other income Unrestricted funds Totsl 2023 2022 Net gain on disposal of langible fixed assets 6,000 21
MAINSTAY DRP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitsble activities Total 2023 Totsl 2022 Staff cost5 Depreciation and impaimient Light & heal Rent & rates Insurance Telephone & IT Consumables Advertising Repairs Printsng, postage & stationery Vehicle expenses Sundry expenses Staff iraining Bad debts Agency costs 2,823,213 2,876,934 9,528 15,366 42,355 35,806 290,548 281.430 60,465 60,248 25,803 18,852 121,370 105,984 23,415 1,186 99,829 58,172 11,478 7,205 14,619 15,614 11,440 9,664 90,997 30,129 23,735 13,960 75,517 3,724,312 3,530,550 Share of support costs (see note 8) Share of govemance costs (see note 8) 415,409 125,457 691.302 120,674 4,265,178 4,342,526 Analysis by fund Unrestricted funds Restricted funds 3,775,665 3,800,710 489,513 541,816 4,265,178 4,342,526
MAINSTAY DRP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs Support Governance costs Costs 2023 Support Governance costs costs 2022 Staff costs Depreciation Light & heat Rent & rates Insurance Telephone Computer expenses Advertising Repairs Printing. postage & stalionery Donations Sundry expenses 288,908 531 5,354 15,576 7,556 8,247 15,863 28,548 10,071 288,908 531 5.354 15.576 7.556 8,247 15.863 28,548 1Q,071 305,279 855 2,589 15,601 3,172 11,733 17.549 9,260 10.985 305,279 855 2,589 15.601 3,172 11.733 17,549 9.260 10,985 10,662 10,662 9,638 297,863 6,778 9.638 297.863 6,778 24,093 24.093 Audit fees Legal & professional 8,100 117,357 8.100 117,357 9,000 111,674 9,000 111.674 415,409 125,457 540,866 691,302 120,674 811.976 Analysed between Charitable aGtivities 415,409 125,457 540,866 691,302 120,674 811.976 Governance costs includes payments to the auditors of £8.1 DO12022- £9,000) for audit fees. Trustees During the year, the charity paid £35.24012022 - £Nil) for accountancy services provided by a firm owned by a Trustee. There were no other transactions with trustees that are required to be disclosed. 10 Employees The average monthly number of employees during the year was.. 2023 Number 2022 Number Residential and daycare staff Administration and support 112 134 Total 121 141 -23-
MAINSTAY DRP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 10 Employees (Continued) Employment costs 2023 2022 Wages and salaries Social security costs Other pension costs 2.790,389 257,329 64.403 2,877,656 240.581 63,976 3,112,121 3,182,213 The number of employees whose annual remuneration was more than £60,000 is as follows. 2023 Number 2022 Number £60.001 to £70,000 £70,001 to £80,000 11 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that Ihese are applied to its charitable objects. 12 Tangible fixed assets Flxlures aE5d ring Computers Motor Vehicles Total Cost Al 1 April 2022 Additions Disposals 96,442 11,553 (31,509) 11,069 51,686 159.197 11.553 142.7591 (11,250) Al 31 March 2023 76,486 11,069 40,436 127,991 Depreciation and impairment Al 1 April 2022 Depreciation Charged in the year Eliminated in respect of disposals 85,247 6.963 (31,509) 5,898 1,939 50,530 1,156 (11,250) 141,675 10.058 (42,759) At 31 March 2023 60,701 7.837 40,436 108,974 Carrying amount At 31 March 2023 15,785 3,232 19,017 At 31 March 2022 11,195 5,171 1,156 17.522 -24-