Carrickfergus Young Mens Christian Association IA company limited by guarantee, not havlng a shar8 capital) STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an Income and Expendlturè Accounti for the financial year ended 31 March 2025 Unrestricted Restricted Funds Funds 2025 2025 Total Unrestricted Restricted Funds Funds Funds 2025 2024 2024 Total Funds 2024 Notes Income Donations and legacies Other trading activities Investments 276,444 50.305 1.156 386,173 662.617 50,305 1,156 281,523 95,026 1.092 453,721 815 735,244 95,841 1,092 Total income 327,905 386,173 714,078 377,641 454.536 832,177 Expendlture Chartlable activities 416.804 298,861 715,665 428,094 394.835 822,929 Net incomel(expenditure} (88,8991 87,312 {1.587} (50,453} 59,701 9,248 Transfers between funds 135.213 (135.213) 1326.116} 326.116 Other recognised gain$lllosses): Surpluslldeficil) for the financial year Unrealised gainsl{losses} on investments 46.314 147.901) {1.587) 1376.569) 385,817 9.248 151,450 151,450 Net movement in funds for the financlal year 46.314 103,549 149,863 1376.S691 385.817 9.248 Reconclllatlon of funds: Total fvnds beginning of the year 13 348,844 1.228,831 1.577.675 725,413 843,014 1.568.427 Total funds at the end of the year 395.158 1.332.380 1.727.538 348,844 1,228,831 1,577,675 The Statement of Financial A¢livities includes all gains and losses recognised in Ihe financial year. All income and expenditure relate to continuing activities. The notes on pages 15 to 21 fomi part of the finanrAal statements 13
Carrickfergus Young Méns Christian Association IA conpany I1.ttl )y (Jiithrantco. rbvt %r¥ ¢•PiWJ ompany N'k741YJIIA BALANCE SHEET 1015 2024 Fued Assets Tar•WI¥ 1.332.380 Cunwrt A8rrtts 10 45,S81 352.974 t r>a in 398.555 <GB.124 CTrdjtor8". AnKunts ts1Sng duE vrithin on• y Mgt CurT•nt A8ets 41 13.3Y71 395.158 Totsl AM•ts Gunnt L¥Jbililie 1,72T.53B liusl ru.% s¥nateO:undi jUntrestsrlv• cyBrI1 I"nd lunreslnuedl 122é.l31 1fj5.0 230.1 Total lunds 13 1,727.53 j75 Tllè%tt". fflanritii •tsrngr have b_fi -repa1 in arcoranc• PP.e rgJ4img ty SM comp4r vilmirt Pa-,115 vl the ConpBviesA¢t 2COS fré fin7r.rtsal strtorngnts Pfepirttl * ylC£¥•#?nc4 .1ppIK&lo to compa-, .es SLdive. tr¥ tThè &)Jll Ltir.ponKY' and In awydaptr w.YT 10? The F nar.cKg1 R&wxEii'.g St.Ind?r aw11 In. UK Apprtsved by the Bord of Tnt••• •nd authorixed fur ESSU• OTr 9 Jun• 2025 and 51sned vn b•h411 by Di(eeto Olre¢tor Y. &) 15 1021 ftrTP rtftrg f01 L7al sknLtrr.rts 14
Carrickfergus Young Mens Christian Association IA Company limited by guarants•. not havin9 a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 GENERAL INFORMATION Carrickfergus Young Mens Christian Association is a company limited by guarantee incorporated in Northern Ireland. The registered office of the charity is 30 - 34 Irish Quarter Wesl, Carrickfergus, Co. Antrim, BT38 8AT 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. 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. Basls of preparation The financial slalemenls have been prepared on the going concern basis under the historical cost convention. modified lo include certain items at fair value. The financial slalements have been prepared in accordance with the Statement of Recommended Practice ISORP} 'Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. As pemitted by the Companies Act 2006, the charity has varied the standard fom8ts in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard fomials are to comply with the requirements of the Charities SORP and are in compliance with section 4.7. 10.6 and 15.2 of that SORP. Statement of compliance The financial statements of the charity for the financial year ended 31 December 2017 have been prepared on the going concern basis and in accordan with the Statement of Recommended Pra1 (SORPI "Accounting and Reporting by Charities preparing their accounts in accordance wth the Finanaal Reporting Stsndard 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 Reslricled funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are wthin the overall objectives of the charity. Unrestrlcted 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. al ils discretion. set aside for particular purposes. These designations have an administrative purpose only. and do legally restrict the board's discretion to apply the ftjnd. Incomo Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled lo the incorne. performance conditions attached to the ilem{sl of income have been mel, the amounts involved can be measured with sulficient reliability and it is probable that the income will be received by the charity. Income from charitable actlvltles Income from charitsble activities include income earned from the supply of services under contrartual 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 chaTity is legally entiued to the income because It 15 fulfilling the condltions 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= Perfomiance based conditions= whereby the charity is contractually enlilled lo funding only to the extent that the core objectives of the grant agreement are achleved. Where the charity is meeting the core objectives of a 15
continued Carrickfergus Young Mens Christian Association IA cornpany limlted by guarantee, not having a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 grant agreement. it recognises the related expenditure. to the extent that il is reimbursable by the donor. as income. -Time based conditions.. whereby the charity is conlraclually enlilled to funding on the condition that il is utilised in a particular period. In these ease5 the charity recognises the income to the extent il is ulilised within the period specified in the agreement. In the absence of such condltions. assuming that receipt is probable and the amount can be reliably measured. grant income is iecognised once the charity is notified of entillemenl. Grants received towards capital expenditure are credited lo the Statement of Financial Activities when received or receivable, whichever is earlier. Expendlture Expenditure is analysed beiween 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 bul cannot be atlribuled to one activity. Such costs are allocated to aclivrlies in proportion lo staff lime spent or other suitable measure for each activity. Tangible flxed assets and depreciation Tangible fixed assets are staled at cost OT at valuation, less accumulated depreciation. The charge lo depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their eslimaled residual value. over their expected useful lives as follows.. Land and buildings freehold Fixtures, fittings and equipment 2Vo Straight line 150A Reducing balance Debtors Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from govemment agencies and other w-funders, bul not yel received at financi81 year end. is included in debtors. Cash at bank and in hand Cash al bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. Taxation and deferred taxatlon No current or deferred taxation arises as the charity has been granted eharitable exèrnption. Irrecoverable valued added lax is expensed as incurred. Deferred tax is recogni5ed 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 Tesull in an obligation lo pay more lax in the future, or a Tight to Pay les5 lax in the future. Timing differences are temporary differences between the charity's taxable income and its results as ststed In the financial Statements. Deferred lax is measured on an undiscounted basis at the tax rates that are anlicipaled 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. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2025 2024 Donations and legacies 276,444 386,173 662,617 735.244 OTHER TRADING ACTtVlTIES Unrestricted Restricted Funds Funds 2025 2024 Other trading activities 50,305 50,305 95.841 16
continued Carrickfergus Young Mens Christian Association IA ¢ornpany Ilmlted by guarantee. not havlng a share ¢apltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 INVESTMENTS Unrestrlcted Restrlcted Funds Funds 2025 2024 Investments 1,156 1.156 1.092 EXPENDITURE CHARITABLE ACTIVITIES Dlrect Costs Other Costs Support Costs 2025 2024 Expenditure on charitable acliviles Govemance Costs (Note 4.2) 710,413 3,240 1,749 263 712,162 3.503 818,415 4,514 713,6S3 2,012 715,665 822,929 GOVERNANCE COSTS Direct Costs Other Costs Support Costs 2025 2024 Charitable activities governance costs 3,240 263 3,503 4.514 SUPPORT COSTS Charitable Governance AGtivities Costs 2025 2024 Support 1,749 263 2,012 35.417 ANALYSIS OF SUPPORT COSTS 2025 2024 Support 2.012 35.417 NET INCOME 2025 2024 Net Income is stated after chargingl{credlting}: Depre¢ialion of tan9ible assets Auditorfs remuneration.. audit services 1.749 31.583 3,240 3,568 INVESTMENT AND OTHER INCOME 2025 2024 Rent receivable Bank interest 18.694 1,156 23,099 1,092 19.850 24,191 17
continued Carrickfergus Young Mens Christian Association IA Company Ilmtted by guarante8, not having a Share ¢apltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 EMPLOYEES AND REMUNERATION Number of employees The average number of persons employed {induding executive trustees) during the financlal year was as follows.. 2025 Number 2024 Number Staff 27 27 The staff costs comprise.. 2025 2024 Wages and salaries 511,732 521,250 TANGIBLE FIXED ASSETS Land and Fixtures. bulldings flttings and freehold equipment Total Cost or Valuatlon Al 1 April 2024 Additions Revaluation 1,542,481 56,449 7.507 1,598,930 7.507 151,450 151,450 Al 31 March 2025 1.693.931 63.956 1,757.887 Depreciation Al 1 April 2024 Charge for the financial year 371.463 52.295 1,749 423.758 1,749 Al 31 Mareh 2025 371.463 54.044 425.507 Net book value At 31 March 2025 1,322.468 9,912 1.332.380 At 31 March 2024 1.171.018 4.154 1.175,172 The buildings wer9 revalued during the year. resulttng in a combined unrealised gain of £151k. The company received a number of grants and loans towards the construction of new premises for the company at 30-34 Irish Quarter Wesl, Carrickfergu5. As a result. the funders and lenders registered a number of charges and mortgages against the property in Companies House that are all outstanding at present. There are as follows 1. Inlemalional Fund for Ireland- charges registered on 21412012 and 81512012 2. The Department of Education - charges registered on 51912011. 261812014 and 2411112014 3. Northern Bank- charges registered on 171812004, 281312008, 121812009, 3011112012, and 191812014 There 3150 exists a potential clawback condition on any dlsposal of the property. Full detalls of all the above charges can be found in Companies House. 10. DEBTORS 2025 2024 Tradg debtOTS Prepayments and accrued income 2.683 42,898 4,357 45.724 45.581 50.081
continued Carrickfergus Young Mens Christian Association IA eompany limhted by 9uarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 11. CREDITORS Amounts falllng due within ono yaar 2025 2024 Other creditors Accruals and deferred income 157 3,240 2,381 3,240 3.397 5.621 12. RESERVES Revaluation rasorve Funds Total At the beginning of the year 1.577.675 1.577.675 151.450 11,587} 151,450 (Defieilllsurplus for the financial year 11.5871 Al the end of the year 151.450 1.576.088 1.727.538 13. FUNDS 13.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrgstricted Restricted Funds Funds Total Funds At 1 April 2023 Movement during the financial year 725.413 {376,5691 843.014 385,817 1,568,427 9.248 At 31 March 2024 Movement during the financial year 348.844 46,314 1.228,831 103,549 1,577.675 149,863 At 31 March 2025 395,1 $8 1.332.380 1.727.538 19
continued Carrickfergus Young Mens Christian Association IA company limited by guarantee, not havlng a share eapltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 13.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance Income Expenditure 1 Aprll 2024 Transfers between funds Gains and losses Balance 31 March 2025 Restricted funds Youth Centre PAKT Get Active Lottery TPP pcsp Designated Building Fund E2T 102,886 70,162 9.087 130,961 53,700 83,052 59,516 11,125 86,189 51,904 {19.8341 (10,6461 {18,1581 (77.9101 12.1211 5,758 20,196 33,138 325 1.175.172 151,450 1,332,380 19,377 7,075 {12.3021 1,228,831 386.173 298,861 1135,2131 151,450 1.332.380 Unrestricted funds Building Sinking Fund Capitsl Investment Fund Sister Organisalion Assistance Fund Unrestricted General 10,000 10.000 105,000 105,000 50,000 50,000 348.844 327.905 416,804 {29,787} 230,158 348.844 327.905 {416,8041 135,213 395,158 Total funds 1,577,675 714,078 715.665 151.450 1.727,538 13.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - charity use Current assets Current liabilities Total Unrestricted general funds 1,332,380 398,555 13.3971 1,727,538 1.332.380 398.555 13.3971 1.727.538 14. STATUS The charity is a company limited by guarantee not having a share capital. The liability of the members is limited. Every member of the rompany undertakes to contribute lo the assets of the company in the event of its boing wound up while they are members, or within one financial year thereafter. for the p8ymenl of the debts and liabilities of the company contracted before they ceased lo be members, and the costs, charges and expenses of winding up, and for the adjuslmenl of the rights of the contributors among themselves, such amount as may be required. not exceeding £ 1. 15. CONTINGENT LIABILITIES The building at 30 - 34 Irish Quarter West, Carrickfergus was built using a number of grants from different funders as outlined in the text of note 9 of these financial slalements. There is a potential clawback of these funds upon the sale of the property. if it were ever to be sold. 16. POST-8ALANCE SHEET EVENTS There have been no significant events affecting the Charity since the financial year-end. 20
continued Carrickfergus Young Mens Christian Association IA company Ilmlted by guarantee. not havlng a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 17. TRUSTEE REMUNERATION None of the Trustees reiVed or waived any remuneration for their services as trustee in the current or previous financial year. 18. AUDITORS REMUNERATION The slalulory auditors, Daly Park & Company Ltd, received a fee of £3,240 for their audit services for the 2025 financial year end12024- £3,240). 19. RELATED PARTY TRANSACTIONS During the year, a company owned by a trustee, entered in lo a lease agreement with CaTrickfergus YMCA for the rental of space within the building at 30 - 34 Irish Quarter West, Carrickfergus. The lease agreement is at the current market value and the transaction is at arm's length. £3.728 was paid to Carrickfergus YMCA during the current year (NIL- 2024}. 21