Charity number: NIC103189 Company number: N1628205 Foyle Paronts & Frionds Assoclatlon (A company limited by guarantee) Directors, report and financlal stat¢ments for the year onded 31 March 2024
Foyle Parents & Friends Association (A company limited by guarantee) Contents Pago Legal and administrative information Directors, report Independent Auditors, report Statement of Financial Activities 10 Balance Sheet 11 Statetnent of Ca5hflows 12 Notes to the Financial Statements 13-21
Foyle Parents & Friends Association (A company limited by guarantee) Legal and administratlve information Directors Mary Bell Colman Callan Jacqueline Garnon Seanna Lynch Yvonne McLaughlin Secretary Seanna Lyncli Registered offlce 22 Bishop Street Derry BT48 6PP Company number N1628205 Charity number NIC103189 XR28820 Audltors M¢Groarty Mccafferty & Company Accountants & Registered Auditors 2 Carlisle Terrace Dery BT48 6JX Bankers Bank Of Ireland 27 Culmore Road Derry BT48 8JB AIB (NI) Meadowbank Strand Road Derry BT48 7TH Solicitors Hassan & Co Solicitors 39-41 Clarendon Street Derry BT48 9XJ Page I
Foyle Parents & Friends Association (A company limited by guarantee) Directors Report for the year ended 31 March 2024 Th¢ directors present their annual report and th¢ audited financial statements for the year ended 31 March 2024. Objectives and activitles Foyle Parents & Friends Association offers respite facilities for parents/carers by means of providing activities and support for children and adults with physical/learning disabilities. Foyle Parents & Friends Association aim to promote an enhanced knowledge and understanding of tlie range of support services available and how to access them. Foyle Parents and Friends Association aim for an improved quality of life for tlie family memberslcarers of people with a physical andlor learning or sensory disability and a reduction in stress and a greater sense of hope. Directors and their Intcrosts The directors of the charity for the purposes of charity law and who served during the year were as follows: Mary Bell Seanna Lynch Colman Callan Yvonne McLaughlin Jacqueline Garnon Structure, governant¢ and management Govemin Document Foyle Parents & Friends Association is a charitable cotnpany, limited ivith guarantee with no share capital and its governing document is its Memorandum and Articles of Association. Its charitable statuse is r¢cognised by HM Revenue & Customs and The Charities Commission of Northem Ireland. anisational tructurelRe ruitment and A ointment of the Board of Dire¢tors Foyle Parcnts & Friends Association was established in 1963 to provide services aiid support to people with physical/lcaming disabilities. The charitable company is managed by directors who meet reglilarly to review activities and plan for future projects. New directors and nominated by current trustees. All of tl)e directors due to their ¢xperionce and backgrounds are already familair with the work of the charity. Risk Mana ement The directors have a risk managcment strategy which consists of establishing a system of identifying risks and mitigating such risks. Intemal control risks are minimised by the implementation of proccdures for authorisation of all transactions and projects. Flnancial Revlew Budgctary controls and constant reviews of all expenditure continue to be implemented tliis period and have not hindered business of Foyle Parents & Friends Association in achieving their primary purpose. Controls taken at the management level will Continue to the coming financial year with continous monitoring througliout. The financial accounts show a surplus of £181,113 with reserves of £1,013,316. The directors have agreed that a designated fund should reflect the amount in the Business Reserve Account. At the 3 1st March 2024 this balance was £222,034. This designated fund will cover any future capital purchases or cover any operational costs in the event of ivithdrawal or gap in funding. Included in restricted funds is £22,000 set aside in the event of any redundancy payments having to be made. The directors will review these amounts annually. Page 2
Foyle Parents & Friends Association (A company limited by guarantee) Activity Report 2023124- Achievements and Performances Through funding and donations, Foyle Parents & Friends Assooiation have continued to provide activities and programmes. along with assisting other groups to benefit the local community. The directors are satisfied with tlie performance and results of the charitable company during the year. - Summer Scheme The suminer scheme ran for 3 weeks at 5 days a week from 17th July 2023 to 4th August 2023. The summer scheine supported a total of130 families and 132 cliildren over its duration. The summer scheme provided 2,640 liours of respite for parents and carers. l OOO/o of parents rated the summer scheme from good to exceptional. Tuned In Project The Association continues to provide day opportunities for adults with a learning disability who were identified through tlie Western Health and Social Care Trust and lias secured funding from the Trust directly and through self-directed payments. The focus of the programme is to provide adults with a learning disability the chance to grow and develop through digital and traditional arts, music, media and person-centred individual work. Tlie programme operates 5 days a week with staffing to facilitate 40 placements per day. In 202312024 the project catered to 71 students, filling 219 places of 200 per week. The project now holds a Monday and Thursday Niglit Social Club for participants with the support of 3 staff and 3 volunteers. The clubs offer a variety of social activitics with Mondays being open to all with disabilities and Thursdays focusing on current'Tuned In Project, students. Loarnlng Disability Centres Tlie Association continues to provide financial support to several Western Trust run learning disability facilities in Derry such as Maybrook ATC, Oaktree Centre, Valley Centre, Sow and Grow, Evergreen Centres and Lilliput Theatre, Rossville Group and Berries Centre. - Carersl Support The Association organised several carers support events throughout the year, including group meetings in the fonn of breakf&8tsldinner and shopping trips to Belft on the 8 December 2023. The Association also provided signposting for welfare issues. Foyle Parents & Friends Association also purchased a respite bed for Spruce House at a cost of £6,029. This gift was approved by the Board of Dir¢¢tors in November 2023. Plans for Future Periods Foyle Parents & Friends Association plan to Continue the activities outlined above in tlie coming years. During 2023 the Tuned In Project has been fundraising for their upcoming trip to Disney in 2024. The project is taking 35 students to Paris for 5 days in September 2024 to take in the sights and sounds of the city and Disneyland parks. The coinpany aspires to own their own building in the future which will house the Tuned In Project and other activities the company may promote. Page 3
Foyle Parents & Friends Association (A coxnpany limited by guarantee) Directors Responsibilities in Relation to The Financial Statements The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for eacli financial year. Under company law the directors must not approve the financial statements unless they are satisfied that tliey give a true and fair Vlew of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors arc required to.. select suitable accounting policies and apply them consistently: observe tl)e methods and principles Tn the Cliarities SORP 2019 (FRS 102); make judgements and estimates that are reasonable and prudent; state whether applicable UK and Accounting Standards have been followed; Subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Board is responsible for maintaining proper 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 cliaritable company and to enable them to ensure that the financial statements comply with Companies Act 2006. The Board is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Stgtcment of dlsclosure of finformAtlon to audltors We, the dircctors of the company who held office at the date of approval of these Financial Statements, as set out above, each confirni 50 far as we are aware, that: So far as we are aware, there is no relevant audit infomiation of which the company's auditors are unaware; and as the directors of the company we have taken all steps we ought to have taken in order to make ourselves aware of any relevant audit infomiatlon and to establish tliat the charity's auditors are aware of that inforniation. Auditor's- McGroarty Mccafferty & Company are deemed to be reappointed in accordance with Section 487 (2) of tlie Companies Act 2006. This report is prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The financial statements are approved and authorised for issue by the Board ofDirectors on 21 August 2024 and signed on it's behalf byi CLL6LL rto, Director Director Page 4
Foyle Parents & Friends Association (A company limited by guarantee) Independent auditor's report to the directors of Foyle Parents & Friends Association Opinion We have audited the financial statements of Foyle Parents & Friends Association for the year ended 31 Marcli 2024 whicli comprise the Statement of Financial Activities, the Balance Sheet, the Cashflow Statement and the related notes. The financial reporting frainework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland This report is made solely to the charitable company's directors, as a bodyy in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's directors those Inalters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent perinitted by law, we do not accept or assume responsibility to anyone other tlian the haritable company and the charitable company's directors as a body> for our audit work, for this report, or for the opinions wc have formed. In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2024, and of its incoming resources and expenditure of resources, including its income and expenditure, for the year then ended- liav¢ been properly prepared in accordanc¢ witli United Kingdom Generally Accepted Accounting Practice. and hav¢ b¢¢n prepared in accordanc¢ with the requir¢ments of the Companies Act 2006. Basis for opinion We ¢onducted our audit in accordance witli International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those Standards are further d¢s¢ribed in thc Auditorfs responsibilities for tlie audit of tlie financial stateineiits section of our report. We are independent of the charitable compaiiy in accordance witli the ethical requirements that are relevant to our audit of tlie financial statements in the UK, including the FRC'S Etliical Standard, and we liave fulfilled our other etliical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial stateinents, we have concluded tliat the directors, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors witli respect to going concern are described in the relevant sectioiis of this report. Page 5
Foyle Parents & Friends Association (A company limited by guarantee) Other inforniation The directors are responsible for the other infonnation. The other information comprises the inforniation included in the directors, annual report, other than the financial statements and our auditor's report thereon. Tlie dir¢ctors are responsible for Other infomiation. Our opinion on the financial statements does not cover other information and, except to the extent otherwise explicitly stated in our report, we do not express any forni of assurance conclusion thereon. In Connection with our audit of the financial statements, our responsibility is to read ilie other inforniation and, in doing so, consider whether the other inforniation is materially inconsistent with the financial statements or our knowledge obtained in the audit or othenvise appears to be materially misstated. If we identify Slich material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of tlie other infomiation. If, based on the work we have perfonned, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companles Act 2006 In our opinion based on the work undertaken in the course of thc audit: the information given in the Directors, Annual Report for the financial year for which Ilie financial statements are prepared is consistent with the financial statements: and the Directors Annual Report has been prepared in accordance with applicable legal rcquirements. Matters on which we arc required to report by excoption In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we liave not identified material misstatements in the Directors Annual Report. We have nothing to report in respect of the following matters where the Companies Act 2006 reqiiires lis to report to you if, in our opinion: adequate accounting records have not been kept. or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of directors, remuneration specified by law are not made. or we have not received all the infomiation and explanations we require for our audit. or the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption from the requirement to prepare a strategic report. Page 6
Foyle Parents & Friends Association (A company limited by guarantee) Responsibilitie5 of the directors As explained more fully in the Directors, Responsibilities Statement set out on page 4, the directors (who are also the directors of the charitable coinpany for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors detern1ine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the ¢liaritabl¢ Company or to cease operatioiis, or liave no realistic alternative but to do so. Auditor's responsibilltles for the audlt of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from Inaterial misstatement, whetlier due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assuraiice is a higli level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will allvays detect a material misstateEnent wlien It exists. Misstatements can arise from fraud or error and are considered material if, individually or in tlie aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Explanation as to what extent the audit was considered capable of detecting irregularities, including Irregularities, including fraud, are instances of non-compliance witli laws and regulations. We design procedures in lin¢ with our responsibilities, outlined above, to d¢tect material misstatem¢nts in respect of irregularities, including fraud. 14owever, tlie primary responsibility for the prevention and detection of fraud lies with management and the board of directors of the charitable Company. Identifying And assessing potential risks related to irrogularities In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance witli laws and regulations, we considered the following: Ilie nature of tlie industry? sector and the specific control environment which it operates in; the charities own assessment of the risks that irregularities may occur, either as a result of fraud or error. representations and results from our enquiries with manageinent and the Board of Directors regarding their own identification and a55essment of the risks of irregularitie5' enquiries of management relating to accounting estimates measurements, recognition criteria and justification of such amounts. any matters we liave identified having obtained and reviewed tlie Charities policies and procedures relating to; * identifying and assessing if laws and regulations are compliant and whelher they are aivare of any instances of non-compliance. * detection and response to the risk of fraud and whether they are aware of any actual, suspected or alleged fraud instance5. * the intemal controls designed to mitigate risks or fraud or non-compliance with laws and regulations, and to minimise risk of management overrides of such controls. Page 7
Foyle Parents & Friends Association (A company limited by guarantee) all matters discussed among the audit engagement team regarding how and where fraud could occur and the potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the cliarity for fraud. The audit Included assessing the procedures and evaluating the measurement of estimations. In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks applicable to the charity and considered that the most significant are the Companies Act 2006, SORP 2019 (FRS 102) and Charities Act (Northern Ireland) 2008. Audit responses to rlsks Identified Our procedures to respond to risks identified included the following: reviewing the financial statement disclosures, testing the relevant documentation to assess compliance with tlie significant laws and regulations - those described as having a direct effect on the financial statements. enquiring with management and obtaining third party confirn)ation from the Charities Solicitors regarding any actual or potenlial litigation and claims. perforn)ing analytical procedures to identify any unusual or unexpected relationsliips that may indicate risks of material misstatement due to fraud. reading minutes of board and management meetings, examine forecasting material in line with actual perfomiance, identifying any potential fraud indicators or instances. reviewing Companies House and Charity Commission Northern IrelaT]d correspondence, identify any lat¢ submissions or omissions of mandatory iiiformation. review correspondence with HMRC, Identifying non compliance of specifi¢ inforniation to be disclosed; in addressing the risk of fraud through management override of controls, testing the appropriateness of data entries and adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the rationale of any significant transactions that are unusual or outside tlie normal course of the charitie5 objectives. We also communicated relevant Identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit. As part of an audit in accordance with ESAS (UK), we exer¢i5e professional judgment and maintain professional s¢¢pticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error. design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is suffirient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company's internal control. Page 8
Foyle Parents & Friends Association (A company limited by guarantee) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosur¢s made by the directors. Conclude on the appropriateness of the directors, use of the going ¢on¢¢m basis of accounting and, based on the audit evidence obtained. whether a material uncertainty exists related to events or conditions that may cast significant doubt on th¢ ¢liariiable company's ability to continue as a going concern. If we conclude that a Inaterial uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of the auditor's report. However, future events or conditions may ause the charitable company to cease to continue as a going concern. -Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent tlie underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and tiining of tlie audit and significant audit fiiidings, including any significant defjciencies in internal control that we identify during our audit. Patrick McGroarty Senior Statutory Audltor for and on behalf of McGroarty Mccafferty & Company Statutory Auditor 2 Carllsle Terrace Dorry BT48 6JX Date: 21 August 2024 Page 9
Foyle Parents & Friends Association (A company limited by guarantee) Statement of Financial Activities for the year ended 31 March 2024 Unrostricted Restricted DesEgnatod Funds Funds Funds 2024 2023 Income and Expendlture Incoming Resour¢es Grants & Sundry Income Bank interest 30.657 2,029 813,542 844,199 2,029 757.999 44 Total Incomlng Resources 32,686 813,542 846,228 758,043 Rcsourcos Expended Management & Administration Govcmanc¢ Costs 40,326 618,189 6,600 658,515 6,600 573,425 7,887 Total Resources Expended 40,326 624,789 665,115 581,312 Net Incoming l (Outgoing) Resources 11 (7,640) 188,753 181 113 176,732 Balances brought forward l April 2023 433,869 198,334 200,000 832,203 655,471 426,229 387.087 200,000 1.013,316 832.203 Transfer between funds 170,483 (192,517) 22,034 Balances carri¢d forward 31 Marcli 2024 596,712 194,570 222,034 1,013,316 832,203 All of the above amounts relate to continuing activities. There are no recognised gains and losses other than those included In the results above and ilierefore no separate statement of total recognised gains and losses has been presented. Tliere is no ditTerence between the net incoming resources for the year stated above and their historical cost equivalents. Page 10
Foyle Parents & Friends Association (A company limited by guarantee) Balance sheet as at 31 March 2024 2024 2023 Notes Fixed asscts Tangible assets 282,969 289,034 Current assets Debtors Cash at bank and in hand 93,991 667,369 65,284 499,496 761,360 564,780 Current liabilities Bank loans and overdrafts Other creditors Accruals 1,204 5,226 24,583 1,794 19,817 31,013 21,61 I Net current assets 730,347 543,169 Total assets less current Ilablllties 1,013,316 832,203 Flnanced By Unrestricted Funds Restricted Funds Designated funds 10 io 18 596,712 194,570 222,034 433,869 198,334 200,000 1,013.316 832,203 Tliese accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 and thc Charitie5 SORP 2019 (fRS 102). Th¢ Financial Statements w¢r¢ approved and authorised for issue by th¢ board on 21 August 2024 and signed on its behalf by CA¢4 0 Director Dlrector Company Number: N1628205 Page 11
Foyle Parents & Friends Association (A company Iimited by guarantee) Statement of Cash flows as at 31 March 2024 Note 2024 2023 Oporating Actlvlties Net incoming / (outgoing) resources for the year (Increase)I decrease debtors (Dccrease) l increase in creditors Other interest and similar income Depreciation and impaim]ent Net cash inflow from operatlng activities 181,113 (28.706) 9,402 (2,029) 38,715 176,731 (19,574) (3,714) (44) 30,042 198,495 183,441 Flnancing Actlvltlcs Capital expenditure Interest received (32,650) 2,029 (9,950) 44 Inerease in cash in the year 167,873 173,535 Reconciliation of net cash floiy to movement in net funds Increase in cash in the year Net funds at l April 2023 167,873 499,496 173,535 325,961 Not funds at 31 March 2024 12 667,369 499,496 Page 12
Foyle Parents & Friends Association Notes to the accounts for the year ended 31 March 2024 Ceneral informatlon The charity is a privat¢ limited company by guarant¢¢, registered in Northern Ir¢land and a r¢gistered charity in Northern Ireland. The address of the registered office is 22 Bishop Street, Derry, BT48 6PP. The company is a registered charity with the Charity Commission Northem Ireland with effect from 14th December 2015. 1.1. Accounting convention The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been Consistently applied within the saine accounts. Tlie charity constitutes a public benefit entity as defined by FRSI02. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities A¢t (Northern Ireland) 2008 and Accounting and Reporting by Cliarities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019 (SORP 2019) and the Companies Act 2006. The financial statements are prepared on a going concern basis under the historical cost convention. modified to included certaiii items at fair value. The financial statements are presented in sterling which is the functional currency of the ¢harity. 1.2. Incoming resources All incoming resources are included in thc SOFA when the charity is legally entitled to the income and the amount can be qualified with reasonable accuracy. The following specific policies are applied to particular catcgorie5 of income: Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities wlien receivable. Grants where entitlement is not conditional on the delivery of a specific perfomiance by the charity, are recognised wlien the charity becomes unconditionally eiititled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold. 1.3. Resources expended All expenditure is accounted for on an accruals basis as a liability is incurred and has been cl&ssified under headings that aggregate all costs related to thc category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for ils beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Page 13
Foyle Parents & Friends Association Notes to the accounts for the year ended 31 March 2024 1.4. Fund accountlng Unrestricted funds are available for use at tlie discretion of th¢ directors in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds which are to be used in accordance with the specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. Designated funds are unrestricted funds earmarked by tlie Board of Directors for particular purposes. 1.5. Tangible llxed assets and dopre¢iation Land and buildings leasehold and investment property are carried at a revalued amount, being its fair value at the date of revaluation less subsequent depreciation and impairmentg provided that fair value can be measured reliably. Tangible fixed assets classified under the headings equipment and Inotor vehicles are valued at Cost less depreciation. Depreciation is provided at rates c&lculated to write otT the cost or valuation less residual value of ea¢li asset over its expected useful life, as follows: Investment property Leasehold properties Fixtures, fittings and equipm¢nt Motor vehicles 2 % Straight Line Straight Line over the life of the lease 20Q/o Straight Line 25 % Straight Line 1.6. Cash at bank Cash at bank and cash cquivalents are stated at C05t at the financial year end. 1.7. Taxation Tlie company is a charity and is recognised as sucli by HM Revenue & Customs under the cliarity reference XR28820. As a result, there is no liability to taxation on any of its income. 1.8. Debtors & creditors Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impainnent are recognised in expenditure. 1.9. Company status The charity is a company limited by guarantee and does not have a share capital. 1.10. Pension eosts Contributions to auto enrolment pension schemes are recognised as an expense in Ihe period in wliich the related service is provided. 1.11. Cash and cash cquivalents Cash and cash equivalents include cash at bank and deposits held in the company name. Page 14
Foyle Parents & Friends Association Note5 to the accounts for the year ended 31 March 2024 1.12. Going concern The financial statements have been prepared on a going concern basis as the directors believe that no Inaterial un¢ertainti¢s exist. The directors have considered the level of funds held and the exp¢cted level of incom¢ and expenditure for 12 months from authorising these financial statements. The budgeted incoine and expenditure is sutyicient with the level of reserves for the charity to be able to continue as a going concern. 1.13. Critical accounting estlmates and Judgements In application of the charity's accounting policies, tlie directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which tlie estimate is revised wliere the revision affect on that period, or in the period of the revision and tUre periods where the revision affects both current and future periods. Grants & other Income 2024 2023 Restricted Income - Charitabl¢ Activities WHSCT BSO Day Opportuiiities Awards For All Department of Healtli Education Autliority FundraisinWdonations restricted 500 4,463 692,926 10,000 744,669 i 0,000 4,049 755 54,069 34,560 813,542 742,449 Unrestricted Inconie - Charltable A¢tivitles Rent receivable Donations Fundraising unrestricted Bank interest received 19,000 9,707 1,950 2,029 11,500 1,050 3,000 44 32,686 15,594 Total Income 846,228 758,043 Page 15
Foyle Parents & Friends Association Notes to the accounts for the year ended 31 March 2024 2.1 Resources Exp¢nded - Charitable Activitics Unrestricted Funds Restricted Funds Total 2024 Total 2023 Management & Administratlon Wages & salaries Staff pension costs Secretarial support Staff training Insurance Heat & light Telcphone & internet Repairs & maintenance Postage, printing & stationery Day Opportunities Motor, travel & accommodation Legal & professional fees Day Centre Carers Support Bank cliarges Marketing expenses Cleaning and consumablcs Rent Computer costs Subscriptions Depreciation on inv¢5tment propety Depreciation of short l¢asehold Dcpreciation fixtures & filtings Depreciation motor vehicles Summer scheme activities Sundry 332,425 15,532 332,425 15,532 327,926 15,609 4,000 3,436 4,364 3,826 3,601 9,014 6,646 20,734 69,718 11,361 7.268 4.784 3,572 4,906 4,117 8,593 7,841 24,517 93,742 10,754 4,784 3,572 4,906 4,117 9,333 7,841 24,517 93,742 10,754 6,565 601 625 1,962 5,967 32,693 2,717 1,255 2,300 19,568 10,641 740 6,565 601 625 578 694 5,345 26,413 1,275 981 2,300 19,568 8,173 1,962 5,967 28,693 2,717 1,255 4,000 2,300 19,568 10,641 6,206 i 0,000 20,397 6,206 35.036 20,856 25,036 459 14,107 6,488 40,326 618,189 658,515 573,425 2.2 Governanee Costs Unrtstricted Fund5 Restrieted Funds Total 2024 Total 2023 Auditors remuneration 6,600 6,600 7,887 Page 16
Foylc Parents & Friends Association Notes to the accounts for the year ended 31 Marcb 2024 Net incomcl expenditure for the year 2024 2023 Net in¢omel expenditure is stated after charginyj (crediting): Depreciation and other amounts written off tangible assets Auditors, remuneration 38,715 6,600 30,041 7,887 Auditor's remuneration The auditor's remuneration amounts to an audit fee of £6,600 (2023 - £7,887). Employees 2024 2023 Wages and Salaries Pension costs 332,425 15,532 327,926 15,609 347.957 343,535 No employe¢5 received emoluments of more than £60,000 (2023: None). Th¢ directors, neither ceIved nor waived any emoluments during the year (2023: None). Numbor of employees 2024 Number 2023 Number The average moiithly numbers of employees during the year, calculated on the basis of full time equivalents, was as follows: 22 20 Taxatlon As a charity, Foyle Parents & Friends Association is exempt from tax on income and gains falling witliin se¢tion 505 of the Taxes Act 1988 or $256 of the Taxation of Chargeable Gains Act 1992 to the extent tliat tliese are applied to its chargeabl¢ objects. Accordingly, no tax charges Iiave arisen in the charity. Page 17
Foyle Parents & Friends Association Notes to the accounts for the year ended 31 March 2024 Tangible assets Land And Investmont buildings property leaseliold Equipment Motor vchiclos Total Cost At l April 2023 Additions 115,000 195,682 48,786 7,826 14,367 24,824 373,835 32,650 At 31 March 2024 115,000 195.682 56,612 39,191 406,485 Depreciatlon At l April 2023 Charge for the year 2,300 2,300 54,076 19,568 14,058 10,641 14,367 6,206 84,801 38,715 At 31 March 2024 4,600 73,644 24,699 20,573 123,516 Net book vlllucs At 31 March 2024 110,400 122,038 31,913 18,618 282,969 At 31 March 2023 112,700 141,606 34,728 289,034 Investment property includes premises at Richmond Hall, Eden Terrace, Derry, BT48 ODH. Tlie charity received an annual rental income of £19,000. Tliis is included in note 2 as rental income. In Aiigust 2024 tl)e property had becom¢ vacant. The Board of Dircctors are confidcnt that a new tenant will be found in the near future. A revaluation of the investment propety was carried out on 15th November 2022. Tliere was no impairn]ent identified in the financial year, therefore no revaluation required. Dobtors 2024 2023 Trade debtors Other debtors Prepayments 81,282 10,874 1,834 63,531 1,748 93,990 65,284 Page 18
Foyle Parents & Friends Association Notes to the accounts for the year ended 31 March 2024 Creditors: amounts falling due within one year 2024 2023 Taxes and social security creditor Bank loans and overdrafts Accruals 5,226 1,204 24,583 1,794 19,817 31,013 21,611 10. Analysis of net assets between funds Unrestrlcted Restrlcted Designated funds funds funds Total funds Fund balances at 31 March 2024 as represented by: Tangible fixed assets Investinent Propety Current assets Current liabilities 172,569 172,569 110,400 222,034 761,360 (31,013) 110,400 486,312 53,014 (31,013) Total funds 596,712 194,570 222,034 1,013,316 ii. Movements in Funds At l Aprll Incoming Oulgofing 2023 resources resources At 31 March 2024 Transfer Restricted funds: Total restricted funds 198,334 813,542 (624,789) (192,517) 194,570 Unrestrlcted funds: General funds 433,869 32,686 (40,326) 170,483 596,712 Designated funds 200,000 22,034 222,034 Total funds 832,203 846,228 (665,115) 1,013,316 Surplus gcnerated from the WHSCT contract used to provide support and Day Opportunities is transferred to unrestricted funds at the end of eacli financial period. 12. Cash and Cash Iqulvalents Opening balance Cashflows Closing balance Cash at bank and in hand 499,496 167,873 667,369 Page 19
Foyle Parents & Friends Association Notes to the accounts for the year ended 31 March 2024 13. Related Party Transactions There were no related party transactions in the period under review. 14. Limited by Guarantee The company is limited by guarantee and does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or slie is a member, or within one year after he or she ceases to be a member. 15. Controlling Interest Controlling interest rests with the Board of Directors. 16. Post Balance Sheet Ei vents No significant events have taken place since the year end that would result in adjustments to 2024 financial infonnation or inclusion of a note thereto. 17. FinAn¢elRe5erves Pollcy Foyle Parents & Friends Association is committed to organisational financial sustainability and the generation of financial reserves to ensure the futiire of the organisation. Reserves provide the organisation with adequate financial stability and the mcans for it to meet its objectives for the future. In addition, suificient reserves are essential to enable Foyle Parents & Friends Association to meet it's short, mediiim and longer tenn strategic objectives. These strategic objectivcs also include any potential capital expansion plans, capital investment including ongoing refurbishment and strategic programme development. Foyle Parents & Friends Association will use all of its financial resources for the work of the organisation as it seeks to fulfill its mission. The board recognise their responsibility for the control of the financial resources of the organisation. The project manager manages the approved budget on a daily basis and seeks direction from the board as requir¢d. The organisation will aim to hold an equivalent of six months operational costs in reserve. Page 20
Foyle Parents & Friends Association Notes to the accounts for the year ended 31 March 2024 18. Designated fi unds The designated fund lias been set up to ensurc that there is adcquate funds for potential capital expenditure or to cover operating costs of the company in the event ther¢ is a withdrawal or gap in funding in the future. In the current financlal year th¢ d¢signat¢d funds total £222,034. Page 21