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2024-03-31-annual-return

Saint Peter's Immaculata Youth Centre Annual Report and Financial Statements for the financial year ended 31 March 2024

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

Saint Peter's Immaculata Youth Centre

CONTENTS

Page
Reference and Administrative Information 3
Trustees' Report 4
Statement of Trustees' Responsibilities 17
Independent Examiner's Report 18
Statement of Financial Activities 19
Balance Sheet 20
Statement of Cash Flows 21
Notes to the Financial Statements 22 - 29

2

Saint Peter's Immaculata Youth Centre REFERENCE AND ADMINISTRATIVE INFORMATION

Trustees

Mr G Early Fr. B Watters Ms 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

Independent Examiner

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

3

Saint Peter's Immaculata Youth Centre TRUSTEES' REPORT

for the financial year ended 31 March 2024

The trustees present their Trustees' Report and the unaudited financial statements for the financial year ended 31 March 2024.

The financial statements are prepared in accordance with the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Trustees' Report contains the information required to be provided in the Trustees' Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees.

In this report the trustees of Saint Peter's Immaculata Youth Centre present a summary of its purpose, governance, activities, achievements and finances for the financial year 31 March 2024.

The charity is a registered charity and although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements.

Financial Review

The results for the financial year are set out on page 19 and additional notes are provided showing income and expenditure in greater detail.

Approach, Scope and Objectives

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Assess the capacity, governance, workforce
01 development, operations, programmes, and
sustainability of St. Peters Immaculata
Youth Centre
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Undertake an evaluation of the barriers faced by young people operating in the Lower Falls Undertake a needs analysis of the capacity, governance and programme potential for the Youth Centre for the next three years

Outline some of the key outputs of the organisation over the last year Evidence some of the outcomes and impacts of the Programme of Offer

4

Saint Peter's Immaculata Youth Centre TRUSTEES' REPORT

for the financial year ended 31 March 2024

Project timeline and Approach

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Objective
Team
Objectives
Client Activities
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Saint Peter's Immaculata Youth Centre TRUSTEES' REPORT

for the financial year ended 31 March 2024

Assessment Methodology

Benefits will exist for all stakeholders

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.

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Saint Peter's Immaculata Youth Centre TRUSTEES' REPORT

for the financial year ended 31 March 2024

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.

Community Youth and 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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Saint Peter's Immaculata Youth Centre TRUSTEES' REPORT for the financial year ended 31 March 2024

St Peter’s Immaculata YC Faces Multiple Challenges

While young people in St peter’s 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 young peoples’ lives

8

Saint Peter's Immaculata Youth Centre TRUSTEES' REPORT

for the financial year ended 31 March 2024

Key Capacity Building Activities

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

Needs Assessment

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

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Saint Peter's Immaculata Youth Centre TRUSTEES' REPORT

for the financial year ended 31 March 2024

Future State Model for St Peter’s 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.

St Peter’s 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.

10

Saint Peter's Immaculata Youth Centre TRUSTEES' REPORT

for the financial year ended 31 March 2024

Inter-Organisational Collaboration Centre Highlights

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

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

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Saint Peter's Immaculata Youth Centre TRUSTEES' REPORT

for the financial year ended 31 March 2024

Ensuring the Voice of Young People

In St. Peters Immaculata YC the voice and active participation of young people in aspects of the organisation and beyond is very import and a foundational ethos of our work. The active participation of our young people is across several element of our services including

Members Forum- Over the last year our members forum have had an active role in all aspects of governance, leadership, evaluation and delivery of youth work

West Belfast LAG - Two members represent the voice of the youth population of Lower Falls ans support the EA in strategic design and delivery of services. They also contributed to the facilitation of the West Belfast Stakeholders Conference last year.

Management Committee- We have two young people represent the voice of young people on the Management Committee contributing to all aspects of the organization.

Volunteering- We have 19 young people in different volunteer roles within the centre as young as 11 years and up to 18 years. We now have five of the young people who have progress to paid leadership roles

Wider Participation Roles- Five young people have completed research positions with the Youth Work Alliance helping in the delivery of peer research. For Young people have presented at different policy and practice events including conference and hosting of agencies visiting the community.

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Saint Peter's Immaculata Youth Centre TRUSTEES' REPORT

for the financial year ended 31 March 2024

Chairs report

The year past continues to be very difficult for the organisation as we struggled with financial stability due to the funding crisis within the Education Authority. The lack of a sustainable and transparent funding process that enables and supports the needs of young people in Lower Falls has brought frustration and anger within the staff. The resulting loss of staff and reduced programming has impacted our ability to meet the needs of the young people and has left young people more vulnerable to outside influences that can often place them in harms way. As I write this overview we are still on a rolling month to month funding stream for the Engage Project in partnership with Holy Trinity YC. This not only frustrates and demotivates the staff but can result in the loss of very well trained and skilled staff members.

However, we have had some successes regardless. The support of the National Lottery who have committed to a four year grant has helped ensure that many of our young people will continue to access developmental youth work for those young people deemed at risk. Using the Hardinger Model the young people banded into the orange bands continue to get additional support through our schools programme and additional developmental opportunities. This programme has been highly successful and the external evaluators continue to celebrate the achievements of our young people in their report.

The support of other funders such as Children in Need, DFA, ARCs, Garfield Weston and Belfast City Council ensure that our young people get continued support and programme opportunities that continue to support their developmental needs. I must make special reference to the Clothworkers Foundation who this year stepped in to support essential capital works replacing our fire and smoke alarms and also the repainted the building to ensure the building stayed open. The state of the building remains our biggest challenge. We are hoping that in the year ahead we might hear some positive news from the Department of Education on the rebuild that will bring a resolution to the sustainability of youth work in Lower Falls.

I can only thank our many and continued grant givers and trusts who support our work. Without this support I worry that the youth centre may not have been as effective as it has been and we are eternally grateful for their continued support.

Treasurers Report

This year the Youth Centre has been able to sustain effective, efficient and economically youth services. The year has been particularly challenging given the ongoing issues with the funding from the Education Authority. The systems and processes have resulted in the loss of staff and reduction in programme areas that are essential in the Lower Falls. The financial situation has become unsustainable given the limitations of the grant where we are unable to pay for essential items such as fire extinguishers and other essential maintenance costs. The Management Committee are hoping that the engagement with EA and the Department of Education will bring about some resolutions to the funding criteria.

The organisation is operating to a deficit of approximately £20,000 per year that we have struggled to secure from our own income streams. The future requires us to increase fees for some of the programs that may limit the participation of some young people with limited financial abilities. This is not a community with a lot of access to financials that enable young people to taker part in costly developmental opportunities and the result will mean that young people who have the most financial barriers will suffer. We have no option but to ensure financial sustainability and will have to start charging for some of our activities to help cover the costs of maintaining the building.

On reflection the centre has many supporters and trust/grant-giving bodies who continue to help and support the work of the centre. However, the future will have to ensure that we undertake full-cost recovery for all our future funding opportunities. This will ensure that future sustainability is secured. The Management Committee have instructed the staff to develop robust funding applications that ensure the building needs are considered when applying for future grants.

Overall, the annual financial situation has been challenging and the future has been planned to ensure long-term sustainability. The reintroduction of an annual membership fee will happen again in April 2025 and the charges for night activities will help with other costs not funded. I must also thank the many partners and collaborators who continue to work with our organisation to ensure that the young people of Lower Falls continue to have access to quality youth work.

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Saint Peter's Immaculata Youth Centre TRUSTEES' REPORT

for the financial year ended 31 March 2024

High Level Action Plan

Organisational Outputs

The following information is a selection of key data from the Management Information System and helps evidence the outputs of the staff team. Although outputs focused it provides the reader with a selection of the programs and sessions offered:

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Saint Peter's Immaculata Youth Centre TRUSTEES' REPORT

for the financial year ended 31 March 2024

Organisational Outcomes

The following information is a selection of key data from the Management Information System and helps evidence the outputs of the staff team. Although outputs focused it provides the reader with a selection of the programs and sessions offered:

  1. Enhanced Personal Capabilities : Has made our young people more social and personal able to positively interact with education and employment opportunities evidenced in 93 young people who secured employment over the year. Young people are less confrontational, more empathetic and understanding. They have new knowledge, skills and are more self-aware.

  2. Improved health & well-being : Young people are involved in less self-harming behaviours, substance misuse has reduced, are making healthier decisions and becoming physically and mentally stronger. They are better regulated and can cope with life's challenges better.

  3. Development of Thinking Life and Work Skills : Young people have learned essential social and life skills that help with cognitive processes, understanding risks and consequences and better decision making, less confrontation and reduction in conflict.

  4. Development of positive relationships with others : The young people have benefited from improved relationships with people of difference, improved attitudes to sectarianism, racism, sectarianism and homophobia. They have positive attitudes and behaviours.

  5. Increased Participation : Young people have become actively involved in their home, youth centre and community. They are undertaking social action and making positive contributions to local, national and international campaigns. They are making positive contributions.

  6. Active citizenship: The young people are making positive contributions to their community. They have been involved in campaigns, completed an orchard, outdoor classroom, painted out graffiti, planted trees, community clean-ups and community festivals.

  7. Improving Accreditation Rates : With over 130 qualifications completed the young people have better educational attainment rates making them more educated and employable. This contributes to their ability and helps them avoid poverty and improve life opportunities

  8. Reducing Substance misuse: The young people have become healthier and better understand risk and consequences. Young people have better relationships with family and less mental and physical health problems.

Organisational Impact

The 2023/24 programme has made positive impacts on the individual, family and community. Below is a selection of key impacts of the programmes on offer

Street Work

Street work continues to be a very successful methodology for the youth centre. Our street team have been very successful in delivering a variety of interventions and developmental youth work programs to young people not engaged in formal services. The staff have delivered the ‘Why Riot’ programme with 8 young people engaged at the interfaces. They have delivered a vaping programme and drug & alcohol programme. The staff have also created interventions with young people at risk of CSE and CCE as they continue to be exploited by criminal gangs in the community. Safeguarding continues to be a key element of the teams work and have kept young people safer in the community.

Learning & Achieving

The year saw the youth centre continue to focus on the learning and achievement of our young people in education. With the support of the National Lottery we continued to work in both St. Louise’s College and All Saints College with young people struggling with relationships and learning. We worked with 22 young people in small groups and one young person individually to help mend their relationships with teachers and to cope better with the demands of school. We also continued to offer a variety of courses and training that enhanced the young peoples learning and build their accreditations. We delivered courses in UPD, Youth Work, Leadership, Drugs and Alcohol, Peer Mentoring and more. The successes have been the commitment of the young people to secure the additional educational courses

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Saint Peter's Immaculata Youth Centre TRUSTEES' REPORT

for the financial year ended 31 March 2024

Health & Wellbeing

The year saw the Youth Centre focus on the health & Well-being of the young people both on street work where we delivered sessions on the dangers of vaping, helping young people understand violence and the consequences. Within the centre we provided four sessions of complimentary therapies weekly, bespoke therapeutical interventions for counselling using play and art therapies. Last year we delivered 46 sessions of support for our young people. During the year we delivered 9 health programs for 102 young people focusing on different elements of health including physical fitness, resilience, drugs and alcohol support, sexual health and relationships, to name a few. Post covid a lot of our work has been supporting young people to manage their emotions and feelings.

Approved by the Board of Trustees on 30 January 2025 and signed on its behalf by:

________ Mr B Gibson Chairperson

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Saint Peter's Immaculata Youth Centre STATEMENT OF TRUSTEES' RESPONSIBILITIES

for the financial year ended 31 March 2024

The trustees are responsible for preparing the financial statements in accordance with applicable law and regulations.

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the assets, liabilities and financial position of the charity as at the financial year end date and of the surplus or deficit of the charity and otherwise comply with the Charities Act 2011.

In preparing these financial statements, the trustees are required to:

The trustees confirm that they have complied with the above requirements in preparing the financial statements.

As explained in note 3, state whether the applicable in the UK and Republic of Ireland FRS 102 has been followed;

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board of Trustees on 30 January 2025 and signed on its behalf by:

________ Mr B Gibson Chairperson

17

Saint Peter's Immaculata Youth Centre

INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF SAINT PETER'S IMMACULATA YOUTH CENTRE

We have examined the financial statements of the charity for the financial year ended 31 March 2024, which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.

This report is made solely to the charity's members, as a body, in accordance with the Charities Act (Northern Ireland) 2008. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Board of Trustees 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 charity and the charity's members, as a body, for our work, or for this report.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act (Northern Ireland) 2008. The charity's trustees consider that an audit is not required for this financial year under the Charities Act (Northern Ireland) 2008 and that an independent examination is required.

It is our responsibility to:

Basis of independent examiner's report

Our examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

In connection with our examination, no matter has come to our attention which gives us cause to believe that in, any material respect:

Independent examiner's statement

We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

__________

DNTCA LIMITED

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

Date: 30 January 2025

18

Saint Peter's Immaculata Youth Centre STATEMENT OF FINANCIAL ACTIVITIES

for the financial year ended 31 March 2024

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |Funds|Funds|Funds|Funds|Funds|Funds| |2024|2024|2024|2023|2023|2023| |Notes|£|£|£|£|£|£| |Income| |Charitable activities|5.1|465|421,268|421,733|2,643|466,575|469,218| |Investments|5.2|112|-|112|192|-|192| |─────── ───────|───────|─────── ─────── ───────| |Total income|577|421,268|421,845|2,835|466,575|469,410| |─────── ───────|───────|─────── ─────── ───────| |Expenditure| |Charitable activities|6.1|9,318|449,677|458,995|7,484|487,255|494,739| |─────── ───────|───────|─────── ─────── ───────| |Net income/(expenditure)|(8,741)|(28,409)|(37,150)|(4,649)|(20,680)|(25,329)| |Transfers between funds|-|-|-|-|-|-| |───────|───────|───────|─────── ─────── ───────| |Net movement in funds for|(8,741)|(28,409)|(37,150)|(4,649)|(20,680)|(25,329)| |the financial year| |Reconciliation of funds:| |Total funds beginning of the|15|200,774|156,552|357,326|205,423|177,232|382,655| |year| |─────── ───────|───────|─────── ─────── ───────| |Total funds at the end of|192,033|128,143|320,176|200,774|156,552|357,325| |the year| |═══════|═══════|═══════|═══════ ═══════ ═══════|

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

The notes on pages 22 to 29 form part of the financial statements

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Saint Peter's Immaculata Youth Centre BALANCE SHEET

as at 31 March 2024

2024 2023
Notes £ £
Fixed Assets
Tangible assets 11 282,412 297,089
─────── ───────
Current Assets
Cash at bank and in hand 12 40,164 62,637
─────── ───────
Creditors: Amounts falling due within one year 13 (2,400) (2,400)
─────── ───────
Net Current Assets 37,764 60,237
─────── ───────
Total Assets less Current Liabilities 320,176 357,326
═══════ ═══════
Funds
Restricted trust funds 128,143 156,552
General fund (unrestricted) 192,033 200,774
─────── ───────
Total funds 15 320,176 357,326
═══════ ═══════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", applying Section 1A of that Standard.

Approved by the Board of Trustees and authorised for issue on 30 January 2025 and signed on its behalf by

________ Mr B Gibson Chairperson

The notes on pages 22 to 29 form part of the financial statements

20

Saint Peter's Immaculata Youth Centre STATEMENT OF CASH FLOWS

for the financial year ended 31 March 2024

2024 2023
Notes £ £
Cash flows from operating activities
Net movement in funds (37,151) (25,329)
Adjustments for:
Depreciation 14,677 12,732
Interest receivable and similar income (112) (192)
─────── ───────
(22,586) (12,789)
Movements in working capital:
Movement in creditors - (2,400)
─────── ───────
Cash used in operations (22,586) (15,189)
─────── ───────
Cash flows from investing activities
Interest received 112 192
Payments to acquire tangible assets - (7,845)
─────── ───────
Net cash generated from/(used in) investment activities 112 (7,653)
─────── ───────
Net decrease in cash and cash equivalents (22,474) (22,842)
Cash and cash equivalents at the beginning of the year 62,637 85,479
─────── ───────
Cash and cash equivalents at the end of the year 12 40,163 62,637
═══════ ═══════

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

for the financial year ended 31 March 2024

1. GENERAL INFORMATION

Saint Peter's Immaculata Youth Centre is a charity incorporated in Northern Ireland. The registered office of the charity is St Peter's Square North, Belfast, BT12 4BU which is also the principal place of business of the charity. The financial statements have been presented in Pound (£) which is also the functional currency of the charity.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements.

Statement of compliance

The financial statements of the charity for the financial year ended 31 December 2024 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard.

Fund accounting

The following are the categories of funds maintained:

Restricted funds

Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity.

Unrestricted funds

Unrestricted funds consist of General and Designated funds.

■ General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity.

■ Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund.

Income

Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity.

Income from charitable activities

Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors.

Grants from governments and other co-funders typically include one of the following types of conditions:

■ Performance based conditions: whereby the charity is contractually entitled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by the donor, as income.

■Time based conditions: whereby the charity is contractually entitled to funding on the condition that it is utilised in a particular period. In these cases the charity recognises the income to the extent it is utilised within the period specified in the agreement.

In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the charity is notified of entitlement.

Grants received towards capital expenditure are credited to the Statement of Financial Activities when

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

for the financial year ended 31 March 2024

received or receivable, whichever is earlier.

Expenditure

Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the 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 activity. Such costs are allocated to activities in proportion to staff time spent or other suitable measure for each activity.

Government Grants

Government grants are recognised in the income statement 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.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:

Freehold property - 5% Straight line
Long leasehold property - No depreciation
Equipment - 25% Reducing Balance
Fixtures and fittings - 25% Reducing Balance
Motor vehicles - 25% Straight line

Cash at bank and in hand

Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal.

Taxation and deferred taxation

No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the charity's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pensions

The charity operates 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 charity's pension scheme are charged to the profit and loss account in the period to which they relate.

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

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

for the financial year ended 31 March 2024

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 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.

3. GOING CONCERN

The Trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charity's ability to continue as a going concern.

4. CRITICAL ACCOUNTING JUDGEMENT AND ESTIMATES

The preparation of the finanical statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under circumstances.

5. INCOME
5.1 CHARITABLE ACTIVITIES Unrestricted Restricted 2024 2023
Funds Funds
£ £ £ £
Grants from governments and other co-funders:
Income from charitable activities 465 421,268 421,733 469,218
═══════ ═══════ ═══════ ═══════

Within Restricted Charitable Activities Income is a grant received from the Department of Foreign Affairs in Ireland of €19,500 (£16,492) towards funding for the Ambassadors for Peace Community Relations Programme.

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

for the financial year ended 31 March 2024

5.2 INVESTMENTS Unrestricted Restricted 2024 2023
Funds Funds
£ £ £ £
Investments 112 - 112 192
═══════ ═══════ ═══════ ═══════
6. EXPENDITURE
6.1 CHARITABLE ACTIVITIES Direct Other Support 2024 2023
Costs Costs Costs
£ £ £ £ £
Expenditure on charitable activites 439,713 - - 439,713 476,924
Governance Costs (Note 6.2) - - 19,282 19,282 17,816
─────── ─────── ─────── ─────── ───────
439,713 - 19,282 458,995 494,740
═══════ ═══════ ═══════ ═══════ ═══════
6.2 GOVERNANCE COSTS Direct Other Support 2024 2023
Costs Costs Costs
£ £ £ £ £
Charitable activities - governance - - 19,282 19,282 17,816
costs
═══════ ═══════ ═══════ ═══════ ═══════
6.3 SUPPORT COSTS Governance 2024 2023
Costs
£ £ £
Depreciation 14,677 14,677 12,732
Audit Fees 2,400 2,400 2,400
Bank Charges 2,205 2,205 2,684
─────── ─────── ───────
19,282 19,282 17,816
═══════ ═══════ ═══════
7. ANALYSIS OF SUPPORT COSTS
2024 2023
£ £
Depreciation 14,677 12,732
Audit Fees 2,400 2,400
Bank Charges 2,205 2,684
─────── ───────
19,282 17,816
═══════ ═══════
8. NET INCOME 2024 2023
£ £
Net Income is stated after charging/(crediting):
Depreciation of tangible assets 14,677 12,732
Independent Examiner's remuneration:
- independent examination services 2,400 2,400
═══════ ═══════
9. INVESTMENT AND OTHER INCOME 2024 2023
£ £
Bank interest 112 192
═══════ ═══════

25

continued

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

for the financial year ended 31 March 2024

10. EMPLOYEES AND REMUNERATION

The staff costs (inclusive of trustees' salaries) comprise: 2024 2023
£ £
Wages and salaries 180,029 191,440
Social security costs 34,851 39,700
Pension costs 18,360 18,737
─────── ───────
233,240 249,877
═══════ ═══════

The average headcount of employees during the year was 27 (2023: 29)

No employee received employee benefits of more than £60,000 during the year (2023: nil)

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

for the financial year ended 31 March 2024

11. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Freehold Long Equipment Fixtures Motor Total
property leasehold and fittings vehicles
property
£ £ £ £ £ £
Cost
At 31 March 2024 33,150 235,690 81,840 17,434 34,290 402,404
─────── ─────── ─────── ─────── ─────── ───────
Depreciation
At 1 April 2023 4,973 - 54,201 11,851 34,290 105,315
Charge for the financial year 1,658 4,714 6,910 1,395 - 14,677
─────── ─────── ─────── ─────── ─────── ───────
At 31 March 2024 6,631 4,714 61,111 13,246 34,290 119,992
─────── ─────── ─────── ─────── ─────── ───────
Net book value
At 31 March 2024 26,519 230,976 20,729 4,188 - 282,412
═══════ ═══════ ═══════ ═══════ ═══════ ═══════
At 31 March 2023 28,177 235,690 27,639 5,583 - 297,089
═══════ ═══════ ═══════ ═══════ ═══════ ═══════

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12. CASH AND CASH EQUIVALENTS 2024 2023
£ £
Cash and bank balances 40,163 62,637
═══════ ═══════
13. CREDITORS 2024 2023
Amounts falling due within one year £ £
Accruals and deferred income 2,400 2,400
═══════ ═══════
14. RESERVES
Funds **Restricted ** Unrestricted Total
£ £ £ £
At the beginning of the year - 156,552 200,774 357,326
Deficit for the financial year (37,151) - - (37,151)
─────── ─────── ─────── ───────
At the end of the year (37,151) 156,552 200,774 320,175
═══════ ═══════ ═══════ ═══════
15. FUNDS
15.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Total
Funds Funds Funds
£ £ £
At 1 April 2022 205,423 177,232 382,655
Movement during the financial year (4,649) (20,681) (25,330)
─────── ─────── ───────
At 31 March 2023 200,774 156,552 357,326
Movement during the financial year (8,741) (28,409) (37,150)
─────── ─────── ───────
At 31 March 2024 192,033 128,143 320,176
═══════ ═══════ ═══════
15.2 ANALYSIS OF MOVEMENTS ON FUNDS
Balance **Income ** Expenditure Transfers Balance
1 April between 31 March
2023 funds 2024
£ £ £ £ £
Restricted funds
Restricted 156,552 421,268 449,677 - 128,143
Unrestricted funds
Unrestricted General 200,774 577 9,318 - 192,033
─────── ─────── ─────── ─────── ───────
Total funds 357,326 421,845 458,995 - 320,176
═══════ ═══════ ═══════ ═══════ ═══════

16. TRUSTEES' REMUNERATION

The Trustees, nor any person connected with them, have not received remuneration or other benefits from employment with the charity of a related entity.

17. POST-BALANCE SHEET EVENTS

There have been no significant events affecting the Charity since the financial year-end.

18. FINANCIAL INSTRUMENTS

The company has chosen to apply the provisions of Section 11 and 12 of FRS 102 to account for all of its financial instruments.

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19. CHARITY STATUS

Saint Peter's Immaculata Youth Centre is a charitable trust constituted under a trust deed. Saint Peter's Immaculata Youth Centre constitutes a public benefit entity as defined by FRS 102.

29