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2023-03-31-accounts

DRAFT FINANCIAL STATEMENTS 31 January 2024

Saint Peter's Immaculata Youth Centre

Annual Report and Unaudited Financial Statements for the financial year ended 31 March 2023

DNTCA Limited Chartered Accountants and Statutory Auditor Ormeau House 91-97 Ormeau Road Belfast BT7 1SH

Saint Peter's Immaculata Youth Centre

CONTENTS

Page Page
Reference and Administrative Information 3
Statement of Financial Activities 4
Balance Sheet 5
Statement of Cash Flows 6
Notes to the Financial Statements 7 - 13

2

REFERENCE AND ADMINISTRATIVE INFORMATION

Saint Peter's Immaculata Youth Centre

Trustees

Mr G Early Mrs M Weir Mr J McCann Ms C McKenna

Chairperson

Mr B Gibson

Company Registration Number

NI103039

Principal Address

St Peter's Square North Belfast BT12 4BU

Auditors

DNTCA Limited Chartered Accountants and Statutory Auditor Ormeau House 91-97 Ormeau Road Belfast BT7 1SH

Saint Peter's Immaculata Youth Centre

M A Y 2 0 2 3

St. Peters Immaculata Youth Centre Annual Evaluation & Action Plan

Delivering on the needs of young people in the Lower Falls 2023

AG E N D A & T A B L E O F C O N T E N T S

Saint Peter's Immaculata Youth Centre

Table of Contents

1 Introduction

2 Approach, Scope & Objectives 3 Current State Assessment 4 Needs and Barriers Assessment

5 Future State Development Model and Action Plan

6

Appendix

Saint Peter's Immaculata Youth Centre

2

Saint Peter's Immaculata Youth Centre

Approach, Scope, and Objectives

3

A P P R O A C H , SC O P E , & O B J E C T I V E S

Project Goals and Objectives

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Assess the capacity, governance, workforce development, operations, programmes, and sustainability of St. peters Immaculata
01
Youth Centtre
02 Undertake an evaluation of the barriers faced by young people operating in the Lower Falls
03 Undertake a needs analysis of the capacity, governance and programme potential for the Youth Centre for the next three years
04 Create a model that enhances and supports the development of an effective, efficient and economical organisation
05 Develop an action plan for the Youth Centre for 2023 to 2026
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4

A P P R O A C H , SC O P E , & O B J E C T I V E S

Project Timeline and Approach

Current State and
~~Create Action Plan and Model~~		 Current State and
~~Create Action Plan and Model~~		 Current State and
~~Create Action Plan and Model~~		 Current State and
~~Create Action Plan and Model~~		 Current State and
~~Create Action Plan and Model~~		 Current State and
~~Create Action Plan and Model~~
~~Scope Project~~
Needs Assessment

Finalize Deliverable
Timing ~~T-2 Weeks~~
Feb 20 - Mar 3		 P R
O J
E C T
S T
A R
T –
Marc h 6
 ~~Weeks 1-5~~
Mar 6 – April 7th		 ~~Weeks 6-8~~
April 10th – April 28th		 ~~Week 9~~
May 1st – May 5
Objective Identify key needs and deliverables,
outlined in engagement letter		 Gather context through research, surveys,
and interviews to understand current
 Develop future-looking models and actions
plans to operationalize		 Finalize solutions and deliverables
~~Idtif K~~
~~Dft Et~~
~~SdDt~~		 ~~state and organizational needs~~
~~Idtif~~
~~CdtIti~~
~~Ct~~


~~Dl Ati~~		 ~~Cllt~~
~~Itt~~
!!!
Team
Activities		 ~~eny ey~~
Needs
~~ra ngagemen~~
Letter
~~en aa~~
Request
•
Understand and assess scope of
project
•
Identify key deliverables and outputs
•
Draft and finalize engagement letter
 ~~eny~~
Opportunities
~~onuc nervews~~
~~reae~~
Project Plan
~~Build Solutions~~
~~Define Success~~
~~eveop con~~
Plans
~~oec~~
Feedback
~~erae on~~
Solution
Celebrate



•
Develop project plan and
approach
•
Conduct stakeholder
interviews to understand
strengths, weaknesses,
opportunities to solve for
•
Develop solutions and deliverables
•
Define progress, ongoing tracking
mechanisms, and success criteria
•
Build recommended path forward
•
Review solutions, outputs, and
•
Incorporate feedback into deliverables
•
Provide a high-quality deliverable, meeting
the goals of the project
•
Review and analyze
received data, materials,
and interview outputs
deliverables with key stakeholders



and materials for context
Client Activities
~~•~~
~~Collaborate with teams to level-set on~~
client background and needs
~~•~~
~~Sign finalized engagement letter~~
•
Share any requested data

5

A P P R O A C H , SC O P E , & O B J E C T I V E S

status updates

• Identify key stakehol ders to interview

• Provide feedback on project plan

6

A P P R O A C H , SC O P E , & O B J E C T I V E S

Assessment Methodology

Project Meetings & Stakeholder Background Research Stakeholder Survey Discussions ✓ 10+ project meetings and The Deloitte team conducted in-depth ✓[A comprehensive survey was designed ] collaborative sessions with St. Peters research into the following areas: in consultation with stakeholder and Youth Work Alliance leadership (YWA and St. Peters), ✓[Historical][and][community][context] aligned with key project goals ✓ 3 stakeholder meetings assessing ✓[Government] policy current state, needs, opportunities, ✓ 58 stakeholders completed of barriers, and future state ✓[Funding ] mechanisms questionnaires, with a 44% response rate ✓[Government Agencies: 1 meeting ] ✓ Relevant youth work policy in with relevant NI agencies Northern Ireland ✓[Survey was socialized in 2 stakeholder ] meetings, with the opportunity for questions and feedback from parents and external organisations

7

A P P R O A C H , SC O P E , & O B J E C T I V E S

Benefits will exist for all Stakeholder Groups

The proposed capacity-building model will benefit all stakeholders involved with youth organizations.

Youth Organisations Government Future Groups (Specialized groups) ✓ St. Peters Immaculata YC ✓Department of Education ✓ LGBTQ + organizations ✓ Partner groups including Holy Family, Holy ✓Education Authority ✓ Parents Trinity and Towsend Street YC’s ✓Education Authority Youth Services ✓ Immigrant community and outreach groups ✓ Other NI voluntary sector organizations ✓Department of Justice ✓ Disabled and neurodiverse stakeholder ✓Police groups ✓Tackling Paramilitarism ✓ Emergent community organizations ✓Department of Community ✓Executive Office (First Minister) ✓Good Relations Office

8

Current State Assessment

C U R R E N T S T A T E A S S E S S M E N T

St. Peters Immaculata YC Current State Assessment

The following assessment areas were identified by the Deloitte team to evaluate St. Peters Immaculata YC for the purposes of this project. These domains were assessed using surveys, research, and stakeholder interviews.

Key Domains for Evaluation

9

BR IA N G I B S ON

Chairs Report

This year has been tough for the organisation as we have had to make significant changes to our programme of offer. The centre’s reduction to four nights open access and the reduction in salaries had meant that to maintain healthy ratios we are now limiting the numbers of young people to 40 per night. This is the first time in the history of Youth Services that we are refusing young people. The financial implications of a reduction in core funding has limited the leverage we as an organisation can facilitate with the serious limitations being placed on the leadership of the organisation for the year ahead.

However, the 22/23 year continued to see the children and young people benefit from our programme of offer. The continued investment in staff capacity building and training has provided many benefits in the creation of expertise for dealing with some of the challenges our young people present with. Staff are completing PhD’s, Masters, Safeguarding, Tackling Adversity, etc all ensuring that the team are of the highest quality in knowledge, skills and talents.

Governance is the foundational responsibility of the Management Committee and with the help of Youth Work Alliance we undertook a total review of all our policies and procedures and made changes to Safeguarding, Health & Safety and including addendum to the Exclusion Policy. We continue to work with the Education Authority and Department of Education to replace the building and are excited to have completed all the requirements to make this happen in the very near future.

We must also thank the many individuals and organisations who support our work including the Education Authority, Children in Need, Ireland Funds, Community Foundation, RTE Childrens Appeal, Garfield Weston, Irish Youth Foundation, Live Here Love Here, National Lottery, Coca Cola, Dept of Foreign Affairs and TBUC for their ongoing support of our organisation.

10

G E R R Y E A R L Y

Treasurers Report

The last year has been a difficult year as the Youth Centre has struggled with the impacts of the covid lockdowns. We have not seen our income recover as the abilities of young people to make the door payments has significantly reduce. This income has been used to cover costs associated with the building that other grants do not allow. As a result we have had to eat into our reserves to cover essential maintenance and repairs required to sustain health & safety requirements of the building. The changes in the Education Authorities Funding Scheme has seen a significant reduction in our grant aid to tackle some of the existing, new and emerging needs of our young people has had a significant impact on the abilities of the youth centre to sustain the number of projects, the numbers of children we can work with and the scope of the interventions that can take place have all been impacted by the EA cuts. We have lost the Peripatetic Project, Drug & Alcohol Specification and the SPARK Programme, all of which we very effective in meeting the needs of our young people. The fiscal impacts resulted in a significant reduction in staff, overheads and programme costs. The results is that the centre will only operate four nights per week and can only cater for 40 young people per session.

The financial implications on the Centre as a result the cuts means that we wont have sufficient running costs for the year ahead and foresee a shortfall of some £11,000. The loss will require some additional fundraising in a very difficult financial environment. In these dark times we must also recognise the many organisations who continue to support our work continue to be the life blood of the service provision we offer to the young people. Without the good faith of these grant givers the youth centre would not be as effective as it is.

The year past has been demanding on our organisation we have had to tighten our belts and limit much of the services we offer and post covid this has been a struggle for us all, not particularly the staff team who continue to be committed and dedicated to meeting the needs of the young people. The next few years will require a further tightening of the finances and will mean that our young people will get less services and opportunities. The staff team are already working on the core programme elements that cannot be further restricted. The Centre will continue to provide even in these tough times no matter how restricted our funding situation becomes. (Gerry Early, Treasurer)

11

YEA R 22/ 23

Organisational Outputs

Governance, Management &

Oversight

Human and Capital Resources

Overview of the building, programme and staff

Staff Development and

Capacity Building

Meeting Needs and Programme

of Offer

related issues

Overview of the key outputs related to the governance of the organisation

Overview of the knowledge, skills and abilities of the staff to deliver the highest quality youth services

Understanding the needs and connecting the programme with meeting these needs

12

C U R R E N T S T A T E A S S E S S M E N T

Primary Programmes and Services Provided to Youth

St. Peters Immaculata YC respondents provided information on primary programmes and areas of impact in relevant needs of young people.

----- Start of picture text -----
Education including Youth Work 8
Building and Conflict Resoluton
7
l Education, Sports, and Exercise
6
Volunter
5
force DevelopmentandTraining
5
commmunity Outreach and Inclusion
Family Services 5
Environment and Sustainability Food 4
Security and Aid
4
Health Services
3
Counseling and Mental Health
3
LGBTQ+
2
----- End of picture text -----

13

C U R R E N T S T A T E A S S E S S M E N T

Community and Youth Engagement Strategies

Stakeholder respondents provided information regarding community and youth engagement strategies utilized currently. This both unveils strengths in practice and areas for expansion.

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5
----- End of picture text -----

----- Start of picture text -----
4 4
3
2
1 1 1
0 0
Community Events and A c gS cvhi goeosl Outreach Surveys Street outreach Email Campaign Sports Door-to-door campaMiganrkegng c a m Ppha iognne banking or outreach Other
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14

C U R R E N T S T A T E A S S E S S M E N T

St. Peters Immaculata YC faces multiple challenges

While young people in St. Peters IYC benefit from a robust culture of dedicated staff and volunteers, the current funding landscape, governance structures, need for professional development, and capacity of the organization limits the impact of programmes in improving outcomes for young people.

Funding & Diversification

Sustainability

Programme Management and Evaluation

Professional & Workforce Development

Governance & Administration

15

Needs & Barriers Assessment 16

N E E D S & B A R R I E R S A S S E S S M E N T

Key Capacity-building Activities

Respondents were asked to rank the following areas of capacity-building and support based on criticality to increase organization's impact or sustainability. 1 is the highest and 8 the lowest (Based on survey respondents). The results underline key needs for organizational capacity-building for the focus of the future state development model and recommended workforce development trainings.

----- Start of picture text -----
Highest
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Lowest

Funding and Financial Planning

Programmes and Services Measuring Impact and Programme Evaluation Professionalism and Workforce Development Administration and Governance

Long-term Planning and Strategy Youth and Community Engagement and Outreach Human Resources

17

N E E D S A N D B A R R I E R S A S S E S S M E N T

Needs Assessment

Research and stakeholder engagement has demonstrated an array of capacity-building needs for PUL youth organizations, ranging from funding diversification to professional development and program management best practices.

St ak e h o l d e r Ne e ds

B a r r ie r s

Financial Stability
and Planning		 •
•		 Development of a short and long-term fundraising plan that
aims for stable and diversified revenue stream
Develop sponsorships with the mission-aligned organizations		 •
•		 Lack of diverse funding with high dependency on volatile government funding
Competitive funding landscape amongst organizations and shrinking funding pool
coupled with increasing funding demand
proposals highlighting the value and benefits of partnership • Competitiveness of the funding scheme is negatively impacting relationships
• Increase recruitment and enhance retention of youth workers • High staff burnout with limited funding to cover necessary hours worked and
Sustainability • Develop training programmes for staff and volunteers to match
skills with current state realities and build organization		 • limited staff retention
Low cross-organization and community participation with low understanding and
capacity recognition of youth work
• Build community and youth buy-in and participation in SPIYC • External realities such as COVID-19 impacts, community challenges (poverty,
• The condition of the building negatively impacts the crime, etc.), and youth education gaps
programme of offer
Programme
Management and
Evaluation		 •
•
•		 Develop SMART outcomes, metrics, and measurement
Develop evidence-based programming that creates measurable
impact with youth
Enhance long-term programmatic strategies tied to long-term		 •
•		 Limited programme management and targeting, goal setting, and evaluation in
early-stage organizations
Government funding structures, policies, and reporting requirements define and
constrain inputs and outcomes
impact and sustainable funding
Professionalism and
Workforce		 • Professional development for staff and leadership to build
human resources, planning, programme management, and
financial acumen skills		 •
•		 Limited financial, community, and professional capacity to develop and institute
relevant professional development
Resistance to resource sharing amongst youth organizations
• Certification programs and career tracks for youth workers to
grow in professionalism and career opportunities
Governance and
Administration		 •
•		 Increase community and youth engagement in government
programs, policies, and impact measurement
Leadership, management, and human resources best practices		 •
•
•		 Organizational reliance on short-term Education Authority funding threatens
governance and operating model
Resource availability is limited to increase capacity
Government policies and funding systems limit the ability of youth organizations to
• Increased independence and programmatic decision making by accrue independence and build effective operational structures
individual organizations’ administration

18

Future State Development Model and Action Plan

19

F U T U R E S T A T E

Future State Model for St. Peters Immaculata YC

The proposed model provides a concrete set of long-term capacity-building, governance, sustainability, and workforce development goals for St. Peters Immaculata YC to strive towards to build impact and stability.

PROPOSED FUTURE STATE

----- Start of picture text -----
Financial Stability Sustainability Program Professionalism Governance and Stakeholder
and Planning Management and and Workforce Administration Engagement
Evaluation
• Sustainable fundraising • Long-term funding • SMART goals and • Professionalized • Professionalized • Effective community,
----- End of picture text -----

PROPOSED FUTURE STATE PROPOSED FUTURE STATE PROPOSED FUTURE STATE PROPOSED FUTURE STATE PROPOSED FUTURE STATE
Financial Stability
and Planning
Sustainability
Program
Management and
Evaluation
Professionalism
and Workforce
Governance and
Administration
Stakeholder
Engagement
•Sustainable fundraising
• Long-term funding
• SMART goals and
• Professionalized
• Professionalized
• Effective community,
Overview approach
•Long-term funding plan
(3-5 years)
•Diverse funding streams
•Decreased reliance on
government funding:
• 30 % reduction in
government funding for
high dependence
organizations		 strategy enhancing
stability and
sustainability of SPIYC
• Community and
stakeholder buy-in
achieved via cogent
outreach plan and
activities
•StaffRetention
• New build of the youth
centre		 metrics tied to both
government reporting
needs and organization
goals
• Qualitative and
quantitative data
assessment in place
•Longitudinal tracking of
youth participants and
individual outcomes
•Increased control of
programme agenda		 workforce matching
organizational scale and
programmatic needs
• Career tracks and
certifications identified
and implemented
•Increased employee
retention through
career opportunities
and growth		 management and
leadership structure
•Established strategic
plan with clear
organizational
outcomes
• Inter-organizational
collaboration center
developed and
functional
• Involvement of
professional community
members
youth, and governmental
stakeholder plan in place
• Strategic engagement
with community
members focused on
creating investment and
bottom-up input
• Youth engagement and
participation increased in
line with_Priorities for_
_Youth_policies

20

F U T U R E S T A T E

St. Peters Immaculata YC Development Model

There are five key elements that provide an opportunity for St. Peters Immaculata YC to build capacity and increase impact with young people.

Financial Strategy and Funding Diversification

Inter-organization collaboration center

Professional Development

Programme Management and Evaluation

Implement financial planning and procurement best practices to promote sustainability

Develop an inter-organization collaboration center to unite the community, foster collaboration and reduce competition

Institute Workforce and Professional Development Training

Create management and evaluation plan to increase impact

Via…

✓[Community events shared across ] ✓[Effective programmatic goals and ] metrics ✓[Long-term][(3-5][year)][financial][plans] goals and locations ~~✓[Pr]~~[ocuring][d] ~~[iversified][funding][sources] ✓[Resource][ Hub ] ✓[Certifications][and][career][development] ✓[Data][and][reporting][plan]~~ ✓[Funding platforms (e.g., Donor’s ] ✓[Shared coordination and leadership ] ✓[Program][ management ] ✓[Measuring success using qualitative ] Choose, GoFundMe) on key needs and issues ✓[Program][ evaluation ] and quantitative data ✓[Corporate][ partnerships ] ✓[Leverage collective power to influence ] ✓[Financial planning and procurement] ✓[Managerial][best][practices] ✓[Grant ][writing ] community and policy makers ✓[Stakeholder engagement and ] ✓[Leadership][ training ] outreach ✓[Enhance][MIS][questions]

Threaded throughout the development model are recommended stakeholder engagement activities, aligned with the Priorities for Youth policy structure. Adoption will result in increased youth engagement and participation across the community.

21

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F U T U R E S T A T E

Inter-organization Collaboration Center Highlights

The collaboration center will increase opportunities to unite the community, foster collaboration, leverage policy influence, and reduce competition.

Increased Resource Sharing and Collaboration

The collaboration center will serve as a resource hub , providing increased access to professional development trainings, grant writing tips and tricks, and programmatic and evaluation materials & resources. It will also provide the ability to discuss issues and brainstorm solutions with peers face-to-face , decreasing competition and enhancing collaboration.

Community Engagement and Impact

The center will allow for increased community events shared across goals and locations , improving community building and outreach. Additionally, a suggested democratized structure will allow participation and influence from all partner youth organizations of any size and development level , generating increased youth and community involvement and input.

Leadership and Political Leverage

The center will foster and shared coordination and leadership on key needs and issues, increasing leverage in engaging with policy makers (such as the Education Authority).

23

F U T U R E S T A T E

Targeted Training to Build Capacity

A series of training areas have been identified for implementation with St. Peters Immaculata YC and partner groups. These trainings will build the capacity, sustainability, and governance of all partner groups.

Programme Management

Leadership & Management

Administration & Governance

1 – Evidence-driven Decision Making Develop processes for making the best decisions possible using all available evidence

2– Managing Effective Programmes Monitor and manage programs that deliver on the organizational mission

1 – Organizational Leadership Lead the organization into the future and motivate

2 – Creating a Strategic 3-5 Year Plan Determine the organization’s long-term focus and create change

1 – Staff Retention

Implement training and performance-based Incentives

2 – Human Resources

Creating effective teams, organizations, and staff satisfaction and retention

Programme Evaluation

Community Engagement

Financial Planning

1 – Program Evaluation & Reporting Plan

Build and evaluate accurate metrics, outcomes, and data

2 – Measuring Programmatic Progress Measure impact and long-term outcomes with youth

1 – Engaging with Youth & Families Community input, youth engagement, stakeholder buy-in

2 – Advocacy with Policy Makers Influence relevant policies and officials

1 – Grant Writing

Improve processes and skills for crafting fundraising proposals

2 – Financial Planning & Budgets

Develop a financial vision and build sustainability

3 – Diversified Funding Structure

Government funding, corporation sponsorships, corporation partnerships, donation campaigns

24

F U T U R E S T A T E

High-level Action Plan

Organizational Assessment (3 – 6 months)

Assess individual organization needs

Strategic Plan and Leadership Development (6 – 12 months)

Develop strategic plan for next 2-5 Create staff development and retention years process

Update programme management, evaluation, metrics, and reporting processes

– Funding Diversification and Staff Development (1 3 years)

Diversify funding sources and Implement community and youth Create and implement Intercomposition outreach programmes Organization Collaboration Center

partners

Implement staff development plan

25

Appendix

A P P E N D I X

Additional Documentation

The following documents were sent following the presentation to support the deliverable recommendations:

27

Management Committee

Chair Secretary Treasurer Members Youth Reps EA Rep

Brian Gibson Nicola McKee Fr. Brian Watters Mairead Weir Eamon Feerick Sophie Nellis McFarlane Tony Walsh Pauline Smart Accountants DNT Chartered Accountants

Saint Peter's Immaculata Youth Centre STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
2023 2023 2023 2022 2022 2022
Notes
Income
Charitable activities 121 469,097 469,218 25 530,583 530,608
Investments 192 - 192 323 - 323
Other income - - - - 5,199 5,199
─────── ─────── ─────── ─────── ─────── ───────
Total income 313 469,097 469,410 348 535,782 536,130
─────── ─────── ─────── ─────── ─────── ───────
Expenditure
Charitable activities 7,484 495,538 503,022 17,085 498,068 515,153
─────── ─────── ─────── ─────── ─────── ───────
Net income/(expenditure) (7,171) (26,441) (33,612) (16,737) 37,714 20,977
Transfers between funds - - - - - -
─────── ─────── ─────── ─────── ─────── ───────
Net movement in funds for (7,171) (26,441) (33,612) (16,737) 37,714 20,977
the financial year
Reconciliation of funds:
Total funds beginning of the 205,423 177,232 382,655 222,160 139,518 361,678
year
─────── ─────── ─────── ─────── ─────── ───────
Total funds at the end of 198,252 150,791 349,043 205,423 177,232 382,655
the year
═══════ ═══════ ═══════ ═══════ ═══════ ═══════

The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities.

4

Saint Peter's Immaculata Youth Centre BALANCE SHEET

as at 31 March 2023

2023 2022
Notes
Fixed Assets
Tangible assets 4 291,206 301,976
─────── ───────
Current Assets
Cash at bank and in hand 5 62,637 85,479
─────── ───────
Creditors: Amounts falling due within one year 6 (4,800) (4,800)
─────── ───────
Net Current Assets 57,837 80,679
─────── ───────
Total Assets less Current Liabilities 349,043 382,655
═══════ ═══════
Funds
Restricted trust funds 150,791 177,232
General fund (unrestricted) 198,252 205,423
─────── ───────
Total funds 349,043 382,655
═══════ ═══════

Approved by the Board of Trustees and authorised for issue on 31/01/24 and signed on its behalf by

Mr B Gibson (Chairman) Trustee

5

Saint Peter's Immaculata Youth Centre STATEMENT OF CASH FLOWS

for the financial year ended 31 March 2023

Saint Peter's Immaculata Youth Centre
STATEMENT OF CASH FLOWS
for the financial year ended 31 March 2023
2023 2022
Notes
Cash flows from operating activities
Net movement in funds (33,612) 20,977
Adjustments for:
Depreciation 10,770 13,808
Interest receivable and similar income (192) (323)
─────── ───────
Cash (used in)/generated from operations (23,034) 34,462
─────── ───────
Cash flows from investing activities
Interest received 192 323
Payments to acquire tangible assets - (45,412)
─────── ───────
Net cash generated from/(used in) investment activities 192 (45,089)
─────── ───────
Net decrease in cash and cash equivalents (22,842) (10,627)
Cash and cash equivalents at the beginning of the year 85,479 96,107
─────── ───────
Cash and cash equivalents at the end of the year 5 62,637 85,479
═══════ ═══════

6

Saint Peter's Immaculata Youth Centre NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2023

1. GENERAL INFORMATION

The charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is St Peter's Square North, Belfast, BT12 4BU.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act (Northern Ireland) 2008.

3. Accounting policies

Basis of preparation

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.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future 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.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

7

Saint Peter's Immaculata Youth Centre NOTES TO THE FINANCIAL STATEMENTS

continued

for the financial year ended 31 March 2023

contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if 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:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities 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 accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset 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 statement 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 gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-

8

Saint Peter's Immaculata Youth Centre NOTES TO THE FINANCIAL STATEMENTS

continued

for the financial year ended 31 March 2023

generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that 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 to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Government grants

Government grants are recognised in the income statement under the accrual model in accordance with FRS 102.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Covid-19 related grants will be recognised in the Income Statement as income and will not be offset against their related expense. Where an application for a grant under CJRS has been successful but it has not been received by the Statement of Financial Position date, the entity records a debtor balance.

Financial 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 financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares 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 recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms 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 payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets 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 objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does

9

Saint Peter's Immaculata Youth Centre NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2023

continued

not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

10

Saint Peter's Immaculata Youth Centre NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2023

4. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Freehold Long Equipment Fixtures Motor Total
property leasehold and fittings vehicles
property
Cost
At 31 March 2023 33,150 235,690 81,245 10,184 34,290 394,559
─────── ─────── ─────── ─────── ─────── ───────
Depreciation
At 1 April 2022 3,315 - 44,988 9,990 34,290 92,583
Charge for the financial year 1,658 - 9,064 48 - 10,770
─────── ─────── ─────── ─────── ─────── ───────
At 31 March 2023 4,973 - 54,052 10,038 34,290 103,353
─────── ─────── ─────── ─────── ─────── ───────
Net book value
At 31 March 2023 28,177 235,690 27,193 146 - 291,206
═══════ ═══════ ═══════ ═══════ ═══════ ═══════
At 31 March 2022 29,835 235,690 36,257 194 - 301,976
═══════ ═══════ ═══════ ═══════ ═══════ ═══════

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5. CASH AND CASH EQUIVALENTS 2023 2022
Cash and bank balances 62,637 85,479
═══════ ═══════
6. CREDITORS 2023 2022
Amounts falling due within one year
Accruals and deferred income 4,800 4,800
═══════ ═══════