Salnt Peter's Immaculata Youth Centre Annual Report and Flnanclal Statements for the flnanclal year ended 31 March 2023 DNTCA Llmlted Chartared Accountanls and Statutory Audltor Omi•au Hou$• 91-97 Ormoau R¢Jad Belfast BTT 1SH Salnt Peter's Immaculata Youth Centre CONTENTS Pag• Reference and Administrative Information Trustees, Report Statement of Trustees, Responsibilities 13 Independent Examiner's Fleport Statement of Financial Activities 15 Balance Sheet 16 Statement of Cash Flows 17 Notes to the Financial Ststements Salnt Peter's Immaculata Youth Centre REFERENCE AND ADMINISTRATIVE INFORMATION Trugt••8 Mr G Early Mrs M Weir Mr J Mccann Ms C McKenna Chglrporson Mr B Glbson Company R•glslratlon Numb•r N1103039 Prlnclpal Addr•88 St Pètèffs Square North Belfast 8T12 48U Ind•p•ndont Ex•mln•r DNTCA Limrted Chartered Accountants and Ststutory Audstor Ormeau House 91-97 Ormeau Road Belfast BT71SH Salnt Peter's Immaculata Youth Centre TRUSTEES, REPORT for the financial year ended 31 March 2023 The truslees who are also directors of the charity for the purposes of the Companies Act 2006, present Iheir report with the financial statements ol the charity for yeai ended 31 W March 2023. Flnanclal rovlow The results for the financial year are sel out on page 16 and addltional notes are provided showing Income and expenditure in greater delail. For the financial year ending 31 March 2023, a deficit arose of £25,329 with a closing feseNes figure of £357.326. Flnan¢lal R•sults At the and of the financial yéar the charity has assets of £359,728 (2022 - £387,455) and li8bilitses of £2,40012022 - £4.8001. Thé net aS58ts of the charity have decreased by £125,329). Approach. Scope and Oblectlves oi Assèss the ¢•p•cky. Str￿M•n¢t, V+wkforcé devdopment, operatlon5t pmgramme5, •nd SuthIn•￿15ty ofst. peters ImmacLd•ts Youth Centtre 02 Undertak* bn e¥aluatlon of the barrfers f•(ed ￿¥￿nI peO￿t oper•thg In thè iokn*r F•lk 03 Undertakn o needs •n8ly$15 01 the upadty, 4wn•rKe •nd pwr•mme poients•l lor the Youth Centre forthe next three years 04 Create a model that enh•nces •nd $w)I￿rtS the development of •n effect￿. *ffklent and e(onom5c41 orB•n15atlon 05 Develop In pl¥n for the Youth Centrt for 2023 10 2026 Project Tlmellne and Approach Scope Project Ciirrent State aild Needs Assessnient Create Action plan and Model Finalize Deliverable Weekn 1.5 O-AwN7th W•eks Frfè 20. Il•r3 Salnt Peter's Immaculata Youth Centre TRUSTEES, REPORT for the financial year ended 31 March 2023 Assessment Methodology Beneflts wlll exl8t for all Stakeholder Group8 Youth Orsanlsatlons Gov•rnm•nt Future Groupi Ispeclallzed groups) St. Peters Immaculats Department of Educatlon /Educatlon Authorlty /Education Authority Youth Servlce5 Department of Justice rfPolke { LG8TQ+ ￿81￿lIatIOnS é Parents Partnergroups kndudlrq F•mlfy, Hdy Trlnlty wid TcfyY5erKI Street Ir's Other Nl ¥rAurtary sectorc￿a￿￿athans ¢ Imml8rantconwNr4tyand outrexh gro rfTackllng PaTrmllltsrlsm Department of Communlty Executlve Offke IFlr51 Mln15terl •&)od Rèiatlons OHlce Ewcc¥nmunlty ¢￿￿n￿a￿Or Salnt Peter's Immaculata Youth Centre TRUSTEES, REPORT for the financial year ended 31 March 2023 Current State Assessment The following assessment areas were idenltfied by the Deloitte team to evaluate St. Peters Immaculata YC for the purposes ol this pfoj8Ct. These domains were assessed using surveys, Tes8ar¢h, and slakeholder inleNièws. Domaln• for tvaluatlon FINANUAL sTrvcfuRE PR06RAMMES AND SERVI MEASURING IMPAcr AND REpoimNG POUCY FRAMEWORK5 PROFESSIONAL AND SUSTAINABILITY GOVERNANf% AND ADM1141STRATION DEVELOPMEPIT Chalrs Report This year has been tough loi the organlsation as we have had to make slgniflcant changes to our programme of offer. The centre's reduction to four nights o￿n access and the reduction in salaries had m88nl that to maintain healthy ratios we are now limiting the numbers ol young people to 40 per nlghl. This is the first time in the hlstory of Youth Services that we are refusing young people. The financial implications ol a r8duction in core lunding has limlled thè lèverage we as an organlsallon can facilitate with the Serious limitalions being placed on the leadership of Ihe organisation for thè year ahead. How8ver, the 22123 yèar continued to see Ihe children and young people benefil Irom our programme of offer. The continued Investment in stafl capacity building and Ifaining has provided many benefits in the crealion ol expèrtise for dealing wfth some ol the challenges our young people P￿sent wilh. Staff are completing Pho's, Maslers, Safeguarding, Tackling Adversty, etc all ensuring ihal the team ar& ol the highest quality in kno￿edge, skills and talents. Governance Is the foundational rèsponsibility of the Management Committee and wilh Ihe help ol Youth Work Alliance we undertook a tolal rèvièw of all our policies and procedures and made changes lo Safeguarding, Health & Safety and including addendum to the Exclusion Policy. We continue lo work with the Eduealion Authorty and Department of Educalion lo replace the building and arè excitèd to have completed all the requiramants to make Ihis happen in the very nèar future. We must also Ihank the many individuals and organisalions who support our work including the Education AuthoTIty. Children in Need, Ireland Funds, ComrnLtnty Foundation, RTE Childrens Appeal, Gartield 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. Salnt Peter's Immaculata Youth Centre TRUSTEES, REPORT for the financial year ended 31 March 2023 Treasurers Report The last year has been a difficult year as the Youth Centre has struggled with th8 impacts of thè covid lockdowns. We have not Sèen our income recov8r as the abilities of young people lo make the door payments has signrficanty 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 eal into our reserves lo cover essential maintenance and repaifs required to sustain heatth & safety requirements of the building. The Changes in the Education Authorities Funding Scheme has seen a significant reduction in our grant aid to tacklè some of the existing, new and emerging ne8ds of our young people has had a significant impacl on the abiif(ies of the youth cenlre lo sustain thè number of projects, the nltmbers of children we can work with and the scope of the interventions that Can take place have all been impacted by ihe EA cuts. We have lost the Paripatetic Project, Drug & Alcohol Specification and Ihe SPARK Programme, all of which we very effective In m8etino the needs of our young people. The fiscal impacts resutted in a signrficanl reduction in staff, overheads and programme costs. The results is that the centre will only operat& four nights per week and can only cal8r for 40 young people per session. The financlal implications on the Cenlre as 8 resutt the cuts m88ns that we wont have sufficient running costs for the year ahead and foresee a shortfall of some £11.000. Th8 loss will r8quire some additional bJndraising in a very difficult linancial environmènt. In these dark limes we musl also recognise the many organisalions who conlinue to support our work continue to be the life blood of the service provision we offer lo the young people. Wilhoul Ihe good faith of these grant givers the youth centre would not be as Èff8Ctiv8 as il is. The yèar past has been dèmanding on our organisation we have had lo lighlen our belts and limlt much ol the seNic8S we offer and post covid this has baen a struggle for us all, not particularly Ihe slaff team who continue to be commrtted and dedicated to meeting th8 n88ds of tha young People. The next few years will require a further tighlening ol Ihe finances and will mean that our young people will get18ss services and opportunities. The staff team are already working on the core programmè 618ments that cannol be further reslricled. The Cenlre wlll contSnue to provlde 8V8n In these tough tim88 no matter how restrictèd OUT funding situation becomes, Organl8atlonal Output8 Gov•rn¥Jn¢•. Manwm•nt & Human and C4pft•l R••our<•• Staff D•v•lopm•nt and Cap•clty BulldlThi M••tlni N••d• and Prryrnmrn• of Off•T O¥t￿eW Dlthe bulldkn& pwr•mffle Dnd st•lf rtl•ted Issues Overyltw olthe key outpuls rel•ted to the (o¥ern4nce of the oryon1￿10Th 0*￿tW oftht knowledie. swlls •nd •biirties olthe st•ff to dell¥ei the h*hest g￿lty￿Uth 5erykes Undtrstsndlnl tht netds •Trd ctsnn2ctlni the proir•rnrne wlth meetlw these Tbeeds 4 22 irants rnDn4¥ed Aeplic2ment ol Intruder Al•rm 4 6B s•lt¢u•tdlhl reports l Repl•talnablllty trf SPIYC CornmuThity•nd s1•￿*010￿rbUv4n h￿d vi• ctsge oiitreach plon IrAI Q￿11141￿ •nd IS*ssfflent In place aff ReteniK>n 14ew Lrf thtThl¥lh iuth pirtklpants and IrKre05ed of pr91r￿me è4end• Yartb pa￿1 10 Salnt Peter's Immaculata Youth Centre TRUSTEES, REPORT for the financial year ended 31 March 2023 There are fiv6 key elemenls that provide an opportunty for St. Petèrs Immaculata YC to build capacity and Sncrease impact wrth young people. , Fln•nd•l strat•￿ and Fundlni Int•Trorpnlntlon ' Dlv•rnlflc•tlon collaborntlon c•nt•r Prpf•Mlon•l D•v•lopm•nt ' Proyamm• M•nag•n¥•nt and Ev•luatlon Institute Worklorce and Professlon•l Developrnent TrnSnln8 Implement fln•n£l•l pl•nnSw and wocurernent best prnctlce5 to promote sustJIn&￿1Ify Devebp •n Inter-or¥•nlutloTh eollaborntlan center to unlte the cornmun￿. foster tollabtsrnt￿ afid reduce competitlon Cre•te min•¥ement and e￿lUat[On p￿n to lThcreastr Impoct | rf Lonx.terrn13.5 yeorl ftnbnclal pl•ns Procurlng dfveryihed tundlnq sources 4 Fundirbi plotéorrns It.1.. Donor. Ch005e. GoFundMel 4 Corpornte p•rtneF5hlps 1 4 Gront wrltlng ¢ Communty events 5h4red woss ioals Ind loc•tlons Resourte Hub Shartd cotsrdlnjtlon •nd le•der5hlp key needs 155ues 4 Levernie collertive pgwer to InfluenEe cammuntty and pollry makers | ( Certiftcottons and career development l { Effectfvt pro¥rnmmitk ioils •nd Pr￿Arn man￿ement rnetrtC5 Pioer•m evolu0￿0 4 Data and reportini pl•n Fln•ncl•l plannlni •ftd pro£uremenl 4 Mewurlni 5vccess uslni qual￿￿ve I c Stakeholder engagernent and •nd gu•ntit0t￿ dats outre•ch 4 M•n•gerl•l best pr•rt*rt5 4 LeadÈrshlp tralnlni 4 Enhlnce MIS qup5tlon5 Inter-organlzatlon Collaboratlon Center Hlghllght8 The collaboration center will increase opportunities lo unlle Ihe communty, lostei collaboration, leverage policy influence, and reduce competition. The (oMabor•tlon center wlll serve 05 a vesourtt Ix*. providing Increased access to proftsslon•l develDprnent tr•lnlny. yant wrrtlni tlps and trkks. Jnd pwrnrnM￿( and e¥iluatlon mthterlols & re50urre5. It wlll 0150 prnWde the •bility to dlscuss hsues and brnln5torrn wlth peers l•tt-ttrlwz. decreoslThi compelltbon and enh4tbclrw collaboratlon. The Center will •11gw for Increased e¥ettts sh•rtd •LTUW •nd lorAlkn¥, ImpW￿ni cOrnrnUn￿ bulldlni and DUtTeKh. Add6tlon•lly. • SuvAtst￿ democrotlzed struciure wlll allow p4rtlclpotlon and Inftuence from all p•rtner youth Dryanlz•tlons of wry •n leal, ieneratlni Inueased youth and communlty Inw>hrrnent •nd Snpvt. The center wbll f05t2r ond shmwtd Ind leadershlp on * needi ènd Issue5. In en￿￿nI wlth poHry makers Isuch as the Eduutl•n Authurityl. Salnt Peter's Immaculata Youth Centre TRUSTEES, REPORT for the financial year ended 31 March 2023 Targeted Tralnlng to Bulld Capacity A series of training areas have been identified for Implemenlalion with Sl. Peters Immaculats YC and partner groups. These trainings will build the capacity, suslainability, and governance of all partnei groups. l- Ewldehttrdrkn DEcldM Devèlop processes lor miklni the best dec151ons p05ib uslnt all ovollable evldence Lead the or¥anlzJtlon Into the future ond rnollvote I-cwe•l￿ • Str•teek >5 Ye•r Pl•n Determlne thè oryanlzatlon's lonl-terrn focu5 and cre4te chon lfflpltrnent trnlrllni •nd perform•nc*bised Ir+cent eotini effectlve te•ms. ory•nlu¥ons. •nd staff s•tlshctk*Th and rttertltsn mon•re proirnms th•t dellver on the orDnlz•tlon•l mi55VJTh 1-6r•nl Wr Improve processe% Ind Skills IDr cnftiry fvnOr•151ry pr¢90￿15 Bulld ond e￿1VIte occurnte metflcs, OUtcomes.4nd Cornmunlty Input, youth ehi•¢emtnL St•keholder rnp•ct and loni-tÈrm outcomes w￿h youth I- wlth PolkyM•kus InflveThce rElevant PDlic12s Jnd off icla15 Develop o IinJnclDI vi51on •né build 5USt•ln•blllty Government fundini. corporotlon sponsorship5, corpoiitbr* rtThershlps. d¢>notlon c•mp•lw Hlgh Level Actlon Plan Str•t•Ek pknn and L•￿•v1hIP D•¥•lopThrt16- U montknj De%%lop lty 1.5 {9-6mon(knJ pr(Ke55 Korpmte Includt i•ryeted trnthlws lor •H lthels of 5￿ft. wrthlorus w pro6r•rnTh ￿P￿mentI￿On. ev0h￿￿)ft, •n4J knp•¢ SUWlMblllry. iovem•n¢e pr￿e*se$ qn m•Tr¥emtrrt. rnetr*s. t￿1￿•1￿ orphlt•Titin•l Pr￿th$ •n¢ nM5S •nd proyirnme m•naiement and lu￿1)Th tsryts FINndal Le•der5tt1p PToirnmm•tic Prote$51(wwl ¢evew￿￿1 Fun* DhMtsffie•tlon •nd Stffl D￿lOPm•￿t fl-3 Tiryr • reOuni>n Iniv•Yrnmert IrKre•5e 5f*eholOer b¢Ay*, 5WPOrt. pollry lndlunthry oppcrtuThh*s Shore W reSOu￿e$. lUThdlrq.tri￿ d ouueich sTheOes pNffdlo d￿er1e parrnÈrs F￿￿ntIal Mability Lon14e￿ F41MI l>pnlDtlond Systslmblllty (4 + rnj (knlop th•rt iJwMy tools To buHdcrotyoryinKiitloMI upic Jnd lory.terrn w%•wwNnV p￿Trn￿l LÈ•dersh¥* A¢lmintsty•th)n itTrmPUOSS.C¥l•ThZ•t￿n rtS￿r ShiriN wlththt •55btance 0151. Ptters. wriiir¥ èrKI furvJbTII Illerrt pods re%*Jciion kn thpenderKe on Irwemmenrlundlni kj • ￿￿￿kOwIth dib*tsep4llnt Identlfy si•We. ILY4-term p•rther5 12 Salnt Peter's Immaculata Youth Centre STATEMENT OF TRUSTEES, RESPONSIBILITIES for the linancial year ended 31 March 2023 The trustees, who are also directors of Saint Pelerfs Immaculata Youth Centre for the purposes of company law, are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the trustees as Ihe directors to prepare linanclal statements for each financial year. Under that law the trustees have elected lo prgpare the financial statements in accordanco with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law} including FRS 102 "The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland" Section 1A (Small Entities). Under Company law the liustees musl not approve the financial statements unless they are satisfied that they give a true and fair view ol the state of affalrs of the company and of the surplus or deficit of the company for that period. In preparing these financial slalemenls, Ihe trust&es are required to,. select suitable accounting policies and apply them consistently., make judgements and accounting estimates that are r8asonable and prudent. State whether th8 financial slatemènls have been prepared in accordance wilh the relevant financial reporting fram8work, idenlify those slandards, and not8 the effect and the reasons foi any material departure Irorn Ihose standards., and prepare Ihe fSnanclal staloments on the going concern basis unless it is Inapproprlate to presume that the charlty will continue in operation. The truste8s confirm that they have compilèd with the above requirements in preparing the financial statèments. Th8 trustees are responsible for keeping adequale accounting records that ar8 sufficlenl to show and explain the charty's transactions and disclose with rèasonable accuracy al any time the financial position ol the charity and 8nabl8 them lo ensure thal the financial slatements comply with. They are also responsible lor safeguarding the assels of the charity and hence for laking reasonable steps lor the prevention and detection of fraud and other irregularrties. Approv•d by ih• Board of Tru81••• on and •lgn•d on Its b•half by: Mr 8 Glbson {Chalrman) 13 INDEPENDENT EXAMINER'S REPORT to the Members of Saint Peter's Immaculats Youth Centre I report to the Irustees on my examination of the financial statements of Saint Peterfs Immaculata Youth Cèntr8 {'tha charity'l for the year ended 31 March 2023. Ro8pon81bllltlo8 and ba818 ol roport As thè trustees of th& charity you are responsible for the preparation of Ihe financial statemenls in accordance with the quirements of the Charities Act (Northem Ireland) 2008 (the .2008 Act'l. You are satisfied that your charity is not required by charity law to be audiled and have chosgn inslead to have an independent examination. I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Acl. In carrying out my examinalion I have followed the g8neral Directions given by the Charity Commission lor Northern Ireland under section 6519llbl ol the 2008 Act. Indepèndent examIno￿9 statement Since the charity's gr05s income exceeded £250.000 your examiner must be a member of a body listed in sèction 65 ol thè 2008 Act. I conflrm Ihal l am qualified to undertake Ihe examination because l am a member of Chartered Accountants Ireland, which is one ol the listed bodies. I have completed my examination. I confirm Ihal no matters have come lo my attention in conneclion vith my examination giving m8 cause lo believe that in any material respect: accounting recoids W8fe not k8pi as required by wlth section 83 of th8 2008 Act., or the financlal stalements do not accord wf(h those records: or 3, the financial Statements do not comply with th& accounting rèquirements of the 2008 Act., or the financlal statements do not comply with the applicable requlrem&nts concernlng the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a'lrue and fair, view which 18 not 8 matter considered as part of an indep8ndènl examination. I confim that thèr8 are no other matter8 lo which your attention should be drawn lo enable a proper understanding of the accounts to be reached. C)?(i(7aL4 on behalf of DNTCA Umlted ndependent Examlner Ormeau House 91-97 Ormeau Road Belfast BT71SH 14 Salnt Peter's Immaculata Youth Centre STATEMENT OF FINANCIAL ACTIVITIES for the financial year ènded 31 March 2023 Unr•strl¢t•d Restrlctod Funds Funds 2023 2023 Total Unrestricted Fleslricled Funds Funds Funds 2023 2022 2022 Total Funds 2022 Not08 Incom• Charitable activilies Investments Olher incomè 2,643 466,sr5 192 469,218 192 25 323 530,583 530,608 323 5.199 5,199 Total Incom• 466,575 469,410 348 535,782 536,130 Exp•ndltur• Charitablg activities 487,255 494,739 17,085 498,068 515,153 N•t Incom•ll•xp•ndltur•) (4,649) (20,680) (25,329) {16,737} 37,714 20,977 Transfers between funds Not movemont In lund8 lor th• Ilnanclal year {4,6491 (20,680) (25,329) 116,737) 37,714 20,977 R•concSllatlon of lund8: Total funds beginning ol the year 15 205,423 177,232 382,655 222,160 139,518 361,678 Total funds at th• •nd of th• y•ar 200,774 156,552 357,326 205,423 177.232 382,65S The Statement ol Financial Activities includes all gains and losses re¢ogni8ed in the financial year. All income and expenditure relate to continuing activities. Thè notes on pages 18 to 24 form part ol Ihe finandal statemen1$ 15 Saint Peter's Immaculata Youth Centre BALANCE SHEET as at 31 March 2023 2023 2022 Not•8 Flx•d Ass•ts Tangible assets 11 297,089 301,976 Curr•nt A88•t• Cash al bank and in hand 12 62,637 85,479 Cr•dltors: Amount8 falllng du• wlthln on• yoar 13 (2,400) {4,800) Not Curront As8•18 60,237 80,679 Totsl As8•t• l•M Current Llablllll•• 357,326 382,655 Funds Restricted Irust funds Genoral lund lunr8Strictedl 156,552 200,774 177,232 205.423 Total fund8 15 357,326 382,655 The Ilnanelal statements have been prepared Sn accordance with Ihe provlslons appllcable to companies subject to the small companies, reglme and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. applylng S8cllon 1 A of that Standard. Approv•d by th• Board of Tru•t••• and authorl8•d lor188u• on b•hall by And 8lgn•d on It• Mr B Glb•on (Chalrman) The noles on pages 18 10 24 form part of the financial stalemgnts 16 Salnt Peter's Immaculata Youth Centre STATEMENT OF CASH FLOWS for the financial year ended 31 March 2023 2023 2022 Not08 Cash flows from 0￿ratIng actlvltl•s Net movement in lund8 Adjustments lor.. Depreciation Interest receivable and similar income (27,729) 20,977 12,732 {192) 13,807 13231 Cash {used In)Ig8nerated from operations {15,189) 34,462 Ca•h flow8 from Inv•8tlng actlvltl•• Interest received Paymonts to acquire tsngible assets 192 17,845) 323 145.4121 Net cash used in investmènt activities (7,653) 145.0891 Net dfrcre880 In ¢88h and cash •qulval•nt8 Cash and cash •qulvalent8 at the beglnnlng ol the y•ar (22,842) 85,479 (10,6281 96.107 Ca8h and ¢a8h •qulval•nt8 at th• •nd of th• y•ar 12 62,637 85.479 17 Salnt Peter's Immaculata Youth Centre NOTES TO THE FINANCIAL STATEMENTS lor Ihe financial year ended 31 March 2023 GENERAL INFORMATION Sainl Pelerfs Immaculata YoLrth Cenlre is a charty incorporated in Northem Ir8land. The registered officè ofthe charity is as St Peter's Square North, Belfast, BT12 48U which is also the principal place of business of the charity. Tha financial statements have been presented in Sterling 1£) which is also the functional currency ol ihe charty. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The follovAng accounting policies have been applied consistently in dealing wlth rt8ms whlch are consldor8d material in relation lo the charity's financial ststements. Statoment ol compllanc• These financial statements have been pr8pared in compliance with FRS 102.'The Financial Reporting Slarndard appllcable In the UK and the Flepublic of Ireland,, the Statement of Recommended Practice applicabl8 10 charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and R8publlc of Irèland {FRS 1021 {Charities SORP IFRS 10211 and the Charf(ies Act (Northern Ireland} 2008. Golng conc•rn The Tru81988 have not identified any material uncertainties related to events or conditions Ihat may casl significant doubt about the charity's ability to continue as a going concem. Fund accountlng The followlng are Ihe calegofles ol funds malntalnad: R••trl¢t•d lund8 estricted funds represent Incom8 r6c&fved which can only be used for parti¢ular purposes, as specified by ihe donors. Such purposes ar8 within the overall objèctives of the charity. Unr?strl¢t•d fund• Unr8Strlcted funds consist of General and Dèsignated fund8. General funds represent amounts which are expendable at the dlscrelion of the board, In furtherance ol the objectives ol the charity. Designated fund5 comprise unrestricted funds that the board has, at 115 discretion, set aside for particular purposes. These designatlons have an admSnistrative purpose only, and do not legally restrict the board's discretion lo apply the fund. In¢om• Income 15 recognised by in¢lusion in the Statement of Financial Aclivilies only when the charity Ss legalty enlitl8d to the income, performance conditions attached to the ilemlsl of income have been met, the amounts inVo￿ed Can be measured with sufficienl ieliability and rt is probable that the income will be r￿e1Ved by the charity. Incom• from ¢harltabl• actlvltl•8 Income from Charrtable activities include income earned from the supply ol services under contractual arrangements and Irom performance related grants which have conditions Ihal specify the provision of particular seNices to be provided by the charity. Income from governmènt and other co-funders is recognised when the charity is legally entitled to the income because il is fijlfi'lling th8 conditions contained in the related funding agreements. Where a grant is received in advance, ils recognition is deferred and includèd in creditors. Where entitlemènt occurs before income is received, it is accrued in debtors. Grants from governments and other co-funders typlcally include one of the following types of conditions: Performance based condibons.. whereby the charity is contractually enliled lo fijnding only to the extent that the core objectiv8s of the grant agreement are achieved. Where Ihe charity is meeting ihe core objectives of 8 grant agreement, it recognis8S the related èxpenditurè, to thè extent that il is reimbursable by thg donor. as income. Time based condib'ons.. Whe￿bY the charity is conlractually entitled to fvnding on the condrtion that it is ulilised in a particular period. In these cases the charity recognises the income to the extent it is ulilised within the period specified in the agreement. Salnt Peter's Immaculata Youth Centre NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 March 2023 In the absence ol such conditions, assuming ihal receipt is probable and the amount can be reliably rneasured, grant income is recognised once Ihe charity is notified of entitlement. Grants received towards capital expendSture are credited to the Statement of Flnanclal ActSvltl@s wh8n r8cewed or receivable, whichever is earlier. Expondllur• Expenditure is analysed belween costs of Charitable a¢tivilies and raising funds. The costs of each aclwity are separately a¢¢umulaled and disclosed, and analysed according to their major components. Expenditurg is recognised when a legal or consliuclive obligation exists as a result of a past event, a transfer of economic benefits Is required in settlomènl and Ihe amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but cannot be attributed to one actlvty. Such cos¢s are allocated lo aclivitl8s in proportion to staff lime spent or other suitab18 measure for each activity. Tanglbl• flx•d 888•t8 and d•pr•clatlon Tangible fixèd ass8ts are staled al cost or at valuallon, less accumulated depreciation. The charge to depreciation is calculated lo write ott the original cost or valualion ol tangible fixed assets, less their estimated residual value, over their exp9Cted useful liv85 as follows: Freehold propety Long leasehold piopety Equipment Fixtures and fittings Motor vehicles 5% Straight line No Depreciation 25% Reducing Balancg 25% Reducing Balance 25% Straight line Cash al bank and In hand Cash at bank and in hand comprises cash on deposlt al banks requiring less than three months notice of withdrawal. Taxatlon and d•f•rr•d taxatlon No current or delerred taxation arlses as Ihe charty has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. Deferred t&x Is recognised in respect of all tSming differences that have orlginated but nol reversed at thè balanc8 sheet date where transactions or evgnts have occurred ai ihal dale that will result in an obligation lo pay more lax in the future, or a right lo pay le88 lax in the future. Timing differences are temporary differences between the charity's t&xable profits and ils results as statèd in the financial stal&m8nts. Oeferred lax Is measured on an undiscounted basis al the lax rate8 Ihal are anticipated to apply In the penods In which the limlng dilferences ale expected lo revefse, based on lax rales and laws Ihal have been enacled or subslantively enacted by the balance sh8et date. 19 Saint Peter's Immaculata Youth Centre NOTES TO THE FINANCIAL STATEMENTS conlinued for the financial year ended 31 March 2023 P•nslcn8 The charity opèrates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Annual contributions payable to the chartys pension scheme are charged to the prolit and loss account in the period to which they relate Gov•rnment Grants Government grants are recognised in th8 income statemènt under the in accordance with FRS 102. Grants for imm&diate financial support or to cover costs alieady incurred are recognised immediately in the profil and loss account. Granls towards general activities al the entity over a specilic period are recognisgd in Ihe profrt and loss account over thal period. Flnanclal Inslrument8 A linancial asset or a financial liability is rècognised only when the charity becomes a paty to Ihe contractual provisions of Ihe inslrumenl. Basic financial instruments are inilially recognised at the amount recelvable or payabl8 including any r8lat&d Iransaction costs. Cuirenl assets and current liabilities are subsequently measured at the cash or other considaration expectgd to be pald or recelv8d and not discountèd. D8bt in8trumenls are subsequently measured at amortls8d cost. Where Investments In shares are publicly traded or their fair value can olherwlse be measured reliably, the inveslmenl is subsequently measured at fair value with changes in fair value recognised In Income and expendllure. All other such investments are subsequently measured al cost l&ss impaimiènt. Other linancias instruments, including derivatives, are initially recognised al fair value. unless payment lor an asset is delerred beyond normal businèss tèrms or financed al a rate of inleresl that is not a market rate, in which case the ass8t is measured al the pfesent value ol the future paymènts discounl8d al a market ral8 of interest for a similar debt Instrument. Other financlal Instruments are subsequently measured at fair value, with any changes recognised in the slat8ment of financial activities, wf(h Ihe exception of hedolng Instruments In a dèsignated hedging relationship. Financial assèts that are mgasured al cost or am0￿.$ed cost are reviewed for oblectlve evldence of Impaimient al the end of each reporting datè. If there is objective evidence ol impairment. an impairment loss Is rocognlsed under the appropriate heading in the statement ol financial aclivilies in which the initial gain was recognised. For all equity instruments iegardless of slgnrficance, and olher Ilnancial assets that arè individually significant, these are assèssèd individually for impairmenl. Other linancial assels are eilhef assessed individually or grouped on the basls ol 8lmllar credit risk characteristiCS. Any reversals of impairmenl are recognlsed immediately, lo the extent that the reversal does not result in a carrying amount of the financial asset Ihat exceeds what the carrying amount would havè been had the impairment not previously bèen recognised. Defined contribution plans Contributions lo defined contribulion plans are recognised as an expense in the period in which the related se￿￿e is provided. Prepaid conlribulions are recognised as an asset to the extent that the pr&paymenl will lead to a r8duction in fulufè payments or a cash refund. When Contributions are not expected to be settled wholly within 12 rnonlhs of the end of the reporting date in which the èmployees render the related service, the liability is measured on a discounted present valuè basis. The unwinding of the discount is recognised as an expense in the period in which il arises. CRITICAL ACCOUNTING JUDGEMENT AND ESTIMATES The preparation of the financial statements requirements mana9emenl lo make ludgemonts, estimates and assumptions Ihat affèct the amounts reported. These estimates and judgemenls are conlinually reviewed and are based on experience and other factors. including èxpèctations of future events Ihal arg believed to be reasonable under circumstances. 20 Saint Peter's Immaculata Youth Centre NOTES TO THE FINANCIAL STATEMENTS continLJed for the financial year ended 31 March 2023 INCOME CHARITABLE ACTIVITIES. Unre8trl¢tgd Regtrlclfrd Fund¥ Funds 2023 2022 Grants from gov•rnm•n18 and oth•r Covfunderg: Income from charitable actsvities 466,575 469,218 530,608 Within Restricted Charitable Aclivilies Income is a grant received from the Department ol Foreign Affairs in Ireland ofÉ19.500 (£16,022} lowards funding for the Ambassadors for Peace Community Relations Programme. INVESTMENTS Unr•8trlcl•d R•8trl¢t•d Fundg Funds 2023 2022 Bank Inter88t 192 192 323 OTHER INCOME Unr•81rlct•d R•strlct•d Fund8 Fund8 2023 2022 Government Grants 5,199 EXPENDITURE CHARITABLE ACTNITIES Dlr•ct Costs Oth•r Coots Support Co•t• 2023 2022 Expènditurè on eharitable activities Governance Costs INote 4.2) 476,924 476,W24 17,815 498,068 17,085 17,815 476,923 17,815 494,739 515,153 GOVERNANCE COSTS Dlr•ct Cogt8 Oth•r Colts Support Cost• 2023 2022 Charitable activities - governance Costs 17,815 17,815 17,085 ANALYSIS OF SUPPORT COSTS 2023 2022 Depreciation Audit Feès Bank Charges 12,732 13.808 3,162 115 2,684 17,815 17,085 21 Salnt Peter's Imrnaculata Youth Centre NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 March 2023 NET INCOME 2023 2022 Net Incom•18 stated oftèr charglngl(credltlng): Dapreciation of tangible as58tS Independent Examiner's remuneration: independent examination seNioes 12,732 13,808 3.162 INVESTMENT AND OTHER INCOME 2023 2022 Bank interest 192 323 EMPLOYEES AND REMUNERATION The staff costs (inclusive of Iruslees, salafies) comprise.. 2023 2022 Wages and salaries Social security costs Pension costs 191,440 39,700 18,737 198,801 44,127 17,758 249,877 260,686 The average headcount of employees during ihe year was 2912022: 35) No employe8 received èmployeè benafils of more than £60,¢)00 during the year 12022.. nil) 10. TRUSTEES REMUNERATION AND EXPENSES The Truslees, nor any person connected wllh them, hav8 not rec8lved remuneration or other benefits from employment wilh Ihe charity of a related entity. 22 Saint Peter's ImmaculBla Youth Centre NOTES TO THE FINANCIAL STATEMENTS lor th8 year 31 Maith 2023 TA14GIBLE FIXED ASSETS Fr••Wd Lono ewlpm•nt prop•rty l•*b•hdd prop•rty Flxtur•• fllUnu• v•hl¢l•• T•tsl I WI 2022 &ry.150 5. 81.245 10,184 7,250 1,$59 7.e45 At31 2023 33.160 235. 81.840 17.434 402.404 0•pr•¢I￿an AtIW2022 Chargè kn Iho finanda y•¥ 3,315 9,213 I,e81 12.732 31 2023 4,973 $4,201 105.315 N•1 bookv•lu• At 31 Mprth a123 28,177 236mO 27MYI At 31 2022 YJ5,W30 36267 194 301.9T6 12. CASH AND CASH EQUIVALENTS 2023 2022 Cash and bank balances 85,479 13. CREDITORS Amount8 falllng du• wlthln one yoar 2023 2022 Accruals and delerfed Sncome 4,800 14. RESERVES Unr•8trlcted R•8trlcted Funds Fund8 Total At the beglnning of th8 year IDeficrt)ISurplus for the financSal y8ar 205,423 14,649) 177,232 120,6801 382,655 125,329) At the end of the year 20D,774 156,552 357,326 15. FUNDS RECONCILIATION OF MOVEMENT IN FUNDS Unr•strlct•d R•8trlct•d Funds Fund8 Totsl Funds At 1 April 2021 Mov&ment during the fin8n¢ial year 222,160 116,7371 139,518 37,714 361,678 20.977 At 31 March 2022 Movement during the financial year 205,423 (4,6491 177,232 120,6801 382,655 {25,3291 Al 31 March 2023 200,774 156,552 357,326 15.2 ANALYSIS OF MOVEMENTS ON FUNDS 8alane• 1 Aprll 2022 Incom• Exp•ndltur• Tran81•rn betw•en fund• Balanc• 31 March 2023 R•8trlct•d fund• Restricted Unr•strlct•d funds Unrestricted General 177,232 466,575 487,255 155,552 205,423 2,835 7,484 200,774 Total fund• 469,410 497,139 357,326 16. POST-BALANCE SHEET EVENTS There have been no significant events attècting the Charity Since the financial year.end. 17. D•fln?d Conlrlbutlon Plan8 The amounts recognised in the income and expendilure account as an expense In relation to defined contribukn'on plans was £18,73712022 £17,758)