REGISTERED COMPANY NUMBER: NI 042091 (Northern Ireland) REGISTERED CHARITY NUMBER: NIC 103284 ort of the Trustees and Financial Statements for the Year Ended 31 March 2024 for Colin Nei Acom hbourhood Sure Start Pro Limited b Cu2rantee ect an Lynn Drake & Co Ltd Statutory Auditors 1st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE
Colin Nei hbourhood Sure Start Pro ect Contents of Ihe Financial Statements for the Year Ended 31 March 2024 Page Reference and Administrative Details Report of the Trustees 2 to 10 Report of the Independent Auditors 11 to 14 Statement of Finaneial Activities 15 Statement of Financial Position 16 Statement of Cash Flows 17 Notes to the Statement of Cash Flows 18 Notes to the Financial Statements 19 to 29 Detailed Statement of Financial Activities 30 to 31
Colin Nei hbourhood Sure Start Pro ect Reference and Administrative Details for the Year Ended 31 March 2024 TRUSTEES Theresa Brady Miss Carla Leali Fraser David Siinpson Florence Davidson Judith Searle Hugh Moore Isobella Loughran (resigned 1511112023) Sarah Grant-Jones Gerard He¢ry Ms Lisa Sainantha Maclean (appointed 1511112023) REGISTERED OFFICE Unit21 Dairy Farm Complex Stewartstown Road Dunmurry Co. Antrim BT17 OAW REGISTERED COMPANY NUMBER NI 042091 (Northern Ireland) REGISTERED CHARITY NUMBER NIC 103284 AUDITORS Lynn Drake & Co Ltd Statutory Auditors I st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE CHIEF EXEC OFFICER Roger Winter
Colin Nei hbourhood Sure Start Pro ect Re ort of the Trustees for the Year Ended 31 March 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019).
ColiD Nei hbourhood Sure Start Pro ect ort of the Trustees for the Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES Principle Activities and Future Development The Company encompasses the following activities.. To enhance the development and education of children below statutory age and to relieve poverty, sickness and distress among those in necessitous circumstances in Colin Neighbourhood. Colin Sure Start is a government led programme working with parents and children under the age of four in the Colin area. Our main focus is to value and support all children aged 0-4 and their families by providing free services, activities and programmes that focus on early education, health, family support and play development. Our vision is to reach out to families with children aged 04 years...laying foundations, creating opportunities and working in partnership to give every child the best possible start in life. The aims of Sure Start are to complement the work of existing local services and provide young families with advice on where to go and who to speak to, if they have more specialised needs or problems. The ongoing support that Sure Start provides can help to make sure that children flourish both at home and wlien tliey go to school. Sure Start aims to improve the ability to learn, health and social development of the children that use its services. The Sure Start programme is supported by a number of key principles.. To coordinate, streamline and add value to existing services for young children and their families in local communities To involve parents To avoid stigma To ensure lasting support To be sensitive to local fainilies, needs To promote the participation of all local families Sure Start work is focused on six high outcomes to ensure children are: Being healthy Enjoying learning and achieving Living in safety and witli stability Living in a society which respects their rights Experiencing economic and environmental wellbeing Contributing positively to cojnmunity and society Colin Sure Start broadly delivers two types of service in the local community. Early Years Services and Family Services. Within each of these areas we off¢r a diverse range of programmes, activities and support that families can avail of. Project review 2023124: A busy year and high demand in our postnatal groups and programmes and hard work on the part of staff has led to the project exceeding a number of its targets for these group delivery programmes. These included our Baby Massage programme (exceeded annual target) and Baby Time programme (exceeded annual target).
Colin Nei hbourhood Sure Start Pro ect ort of the Trustees for the Year Ended 31 March 2024 Another programme that has exceeded expectations has been our Outdoor Explorers programme, which was new for this year. It has received great interest and uptake and has exceeded target for the year, despite increasing the target at Q2. Our Breasrfeeding Support group has gone from strength to strength as well, exceeded annual target for unique parents and getting regular attendances of 6-1 O parents per week. Some of our play programmes, particularly our Parent and Toddler Groups have seen very positive engagement over the year, exceeding their annual target, and with 4 groups running each week getting regular attendances of 8 or more parents, again a huge effort by staff in promoting these and delivering quality services. Antenatal engagement saw an increase from the previous year and further development of this service took place training and offering new programmes of support to parents. The project also further developed its new services to families where English is a second language and also Grandparents. The overall engagement by users in these services increased, and the project developed the offer and ran some new initiatives in the year, such as the cultural celebration event as well as regular groups. Awareness in the community and other services of what we are off¢riiig also increased and referrals are now coining in regularly for support witli ESL families. Another very positive new development during the year was a partnership with the local womens centre Footprints to expand a social supermarket into a new area, supporting families in the Mount Eagles and Lagmore areas. This is operating as part of one of our speech and language programmes, where all parents who attend the Rhythm, Rhyme and Story time are able to avail of the social supermarket at the end, getting shopping and stole cupboard staples for less than cost price. There are monthly workshops on aspects of healthy diet, nutrition and practical cooking demonstrations making nutritious home cooked and health meals from the iiigredients provided in the social supermarket. The interest and engagement in this new initiative surpassed even our highest expectations, with weekly numbers of 12 - 15 fainilies availing of this service. This accounting year once again presented financial challenges, which at the beginning of the year were well documented in the news, with major cuts to community and voluntary funding feared, and many protest taking place across Belfast and Northern Ireland. As it transpired, Sure Start were saved from any cuts to its budget, but a'cash flat, year with no uplift to the budget had real terms implications. The project made efficiency savings where it could, but rising operating costs certainly proved a challenge. Several posts that became vacant during the year were not recruited for with the money saved from these red¢ployed to programine delivery costs. The Board of Directors and project management were able to navigate these challenges, but keeiily aware of the prospect of another year with 110 budget uplift for 24125, took some difficult decisions around the projects staffing, with s¢vcral vacant posts not retained for the coming year. The project has beeii in regular Contact with its funder about the implications which unfortunately are not unique to Colin Sure Start, but are challenges facing many in the sector, and our Business Plan is reflective of these changes in staffing numbers and hours. Despite these challenges there were many positives in the year: the project is well on its pathway in getting fully accredited through UNICEF as a Breastfeeding Support centre along with other Sure Start projects in the SE Trust area, having passed the BFI Stage 3 assessment in Feb 2023. The project will now maintain this status with regular audits and training before applying for the Gold standard accreditation in 2025. The proj¢ct has made some great steps during the year in measuring outcomes.
Colin Nei hbourhood Sure Start Pro ect ort of the Trustees for the Year Ended 31 March 2024 The Outcome Star tool is now being used regularly in our home-based family support and other teams who are providing home-based support as a way of measuring outcomes, and numbers of stars being completed are increasing now that face to face delivery of home support has returned which has provided more opportunities for use of this tool. The project is also committed to developing quality and outcomes measures within its own home-grown programmes, and the Project Manager and Project Support Coordinator are involved in a training programme with NICVA and the CES supporting the community and voluntary sector to develop outcome measurement tools themselves. Training and professional development also forms a central part of the projects quality improvement strategy, with investment this year into a number of Early Years practice development workshops and courses, internal training and development days, and with a number of staff currently being supported to take on further early years qualifications. We have facilitated opportunities for our DP423YO staff to visit other Sure Start settings to gain inspiration, new ideas and share practice which has had positive feedback. Recent Social Services inspections of our Lagmore and Lagan Valley registered settings prompted very positive feedback about the atinosphere, staff interactions observed and positive, interesting and inviting environments that staff have worked hard to develop. Staffing during the year was affected by 5 different Maternity leaves across a variety of posts with different cover arrangeinents put in place, but the project has managed this over the past year without disruption to service delivery.
Colin Nei hbourhood Sure Start Pro ect ort of the Trustees for tbe Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES Public benefit Public benefits are- (a)Tlie promotion for the public benefit of urban regeneration in the Colin area and the surrounding catchment areas in Belfast and the city of Lisburn (the 'area of benefit ), an area of social and economic deprivation, by all or any of the following means.. l. The development and education of children below statutory age 2. Better understanding of the physical, emotional and mental health needs of children and adults in the community with better health and well-being will having an impact from pregnancy to early development 3. The relief of poverty in such ways as may be thought fit 4. The provisioii of recreational facilities for families or those who by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances, have need of such facilities; The direct benefits which flow from this purpose are improvements in the social/economic circumstances of parents/children living in the area of benefit including greater access to training and education programmes/guidance, and stronger participation of all age groups. This promotes neighbourhood renewal, resilience and healthier communities. These, benefits are demonstrated through member's feedback, quarterlylannual activity reports and outcomes-based evaluation. This purpose does not lead to harm. The beneficiaries of this purpose are all parents and children. (a) private benefit to trustees may arise if the knowledge they gain as a trustee to good governance and urban regeneration is transferable to another setting. These benefits are incidental and necessary to ensure the benefit is provided to the beneficiaries. (b)To provide encouragement and practical support services to existing and new parents's groups in the area of b¢nefit so as to increase their efficiency and effectiveness in achieving their charitable aims. The direct benefit which flows from this purpose is that knowledge and skills are transferred to support parents's groups in the area of benefit, increasing levels of skills and capacity to achieve their charitable aims. Evidence to demonstrate this benefit will be the sustainability of parents's and children's activity within the area of benefit. This purpose does not lead to harm. The beneficiaries of this purpose are all parents and children. There is no private benefit arising from this purpose. (c)To develop the capacity and skills of parents Tn the area of benefit in such a way that they are better able to ideiitify, and help meet, their needs and to participate more fully in society. The direct benefit which flows from this purpose is that through developiiig a self-help model. families are supported to build their capacity and skills to identify their needs and to develop services to meet their distinct needs. The evidence to demonstrate this benefit is provided from members, feedback, increased representation on community forums/n¢tworks, quarterlylannual monitoring and activity reports. This purpose does not lead to harm. The beneficiaries of this purpose are all families and children. There is no private benefit arising from this purpose. (d)To promote social inclusTon, equality of opportunity and good relations across all diversity strands, including race, ethnicity, gender. age, sexual orientation, religion and disability and to encourage diversity. Th¢ direct benefit which flows from this purpose is that the project will contribute to the development of a more inclusive, equitable and diverse society through delivery of good relations programlnes. This will increase local understanding and acceptance of diversity. These benefits are demonstrated through greater inclusively and diversity within the membership/community- This purpose does not lead to harni. The beneficiaries of this purpose are all parents and children. There is no private benefit arising from this purpose.
Colin Nei hbourhood Sure Start Pro ect Re ort of the Trustees for the Year Ended 31 March 2024 STRATEGIC REPORT Finaneial position The company had net incoining resources for the year of £2,577 (2023: net outgoing resouices of £976), which reflected the completion of a number of projects during the year. Unrestricted funds increased during the year by £1,260 whilst restricted funds increased by £1,317. Principle funding sources Principle funders are.. Eastern Childcare Partnership SEHSCT- Fruit + Vegetables Programme Pliblic Health Agency Colin Neighbourhood Partnership Reserves policy The Charity is funded by the Eastern Health and Social Services Board through the South Eastern Health & Social Care Trust. On Occasioii tl)e charity also receives restricted income from other funders. The Charity has to monitor its coinpliance with the policy of funding on a regular basis.Principle funding sources are the Department of Education. Future plans The project is keen to support new practitioners starting their journey in early years and family support, and also using our varied work and experience within the community and sector, are keen to exploring an apprenticesliip scheme, where unqualified staff could gain the experience aiid qualifications. The project is also determined to continue our work on supporting health and early intervention work in supporting good health habits in the early years, and as part of this continuing to develop our outdoor play provision, with a number of new programmes recently started and rolled out offering par¢nts and children outdoor play opportunities and information about the benefits that these can have on childrens health. The project will continue to develop our services for children with additional needs both as home support and small group-based provision based on the n¢¢ds of the community. The project hop¢s that if additional funding or a budget uplift is obtained in the future, to be able to revisit the recruitment of staff to support fathers work in som¢ form. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Th¢ charity is controlled by its governing document, a deed of trust, and constitut¢s a limited company, limited by guarantee, as defined by th¢ Companies Act 2006. Governance of the Charity During the period under review the directors met monthly. Trustees/dire¢tors are appointed by nominations made in writing by any existing dlrector. At the General Meeting nominated directors are appointed by election.
Colin Nei hbourhood Sure Start Pro'ect ort of the Trustees for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Related parties Colin Neighbourhood Sure Start Project has no directly related parties but does have partner organisations. Colin Sure Start works closely with a number of partner organisations throughout the Colin area. These partnerships help us achieve a cohesive approach to Early Years education and health promotion in Colin and give local residents the best service that we can. We currently fund a number of organisations and also work closely in partnership with other relevant bodies. Barnardos Travellers Early Years, Service - Colin Sure Start currently funds Barnardos to help support local travellers in the Colin area with children from 0-4. lonad Na Fuiseoige - lonad Na Fuiseoige is a local Irish immersion family centre and crèche. Colin Sure Start currently assist the centre to provide one of our Sure Start Developmental Programme for Two Year Olds programmes and a crèche. We also use the centre to deliver a weekly parent and toddlers group and other programmes and activities. South Eastern Health and Social Care Trust - Colin Sure Start works in close partnership with the SEHSCT to deliver our Speech and Language support programmes. St Luke's Family Centre - Cara House - Cara House offers support to families in the community througli their parents drop in and programme of activities which are supported by our daily crèche facility for children aged 0-4 years. Their range of programmes aim to iinprov¢ personal development, provide information on fainily and personal health, learn new skills and support members of the community to move away from the benefits cycle and back into employment if that is their aim. Colin Sure Start currently provides financial assistance to the centre to run their crèche. We also run several programmes and activities in the facility.
Colin INei hbourhood Sure Start Pro ect ort of the Trustees for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The priiiciples of good governance are embedded within all aspects of Colin Neighbourhood Sure Start Project Limited operations with management and staff being keenly aware of the Boards responsibility of ensuring that the organisation protects itself from financial exposure and reputational damage, A close working relationship is maintained between thc Board and management to ensure that operationally staff are aware of the standards required of thein by the Board and the Board are always in a position to provide guidance and support to manag¢iT]ent in the discharge of their duties. This two way relationship is the key feature of Colin Neighbourhood Sure Start Project Limited governance arrangements and is a key strength in tlie company. A conscientious approach to ensuring that contractual project requirements are achieved has been maintained at all times both in the accounting period being reported on and since Colin Neighbourhood Sure Start Project Limited establishment. Very tight financial Controls on expeiiditure and all financial commitments are maintained at all times and project staff have been trained and have become experienced in budgetary controls.ln both these areas ie Project delivery and financial controls manageineiit all staff have established close working relationships with funding organisations to ensure all mandatory standards are consistently achieved. Board representatives also actively engage with funding bodies. The Board, management and staff are fully aware that the nature of the work in which Colin Neiglibourhood Sure Start Project Limited is involved can bring with it a high level of scrutiny to ensure that all activities are fully coinpliaiit with funding requirements and,therefore, beyond r¢proach.The Board of Colin Neighbourhood Sure Start Project Liinited is, therefore, greatly reassured of the company's compliance with the highest of standards of governance on the basis that all monitoring and evaluatton of project delivery demonstrates achievement of all funders objectives and that funders, audits and vouching of financial expenditure and the statutory audit confirm compliance with both probity and regularity in the use of monies received. EVENTS SINCE THE END OF THE YEAR Information relating to events since the end of the year is given in the notes to the financial statements. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Colin Neighbourhood Sure Start Project for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordancc with applicable law and United Kingdom Accounting Standards (United Kingdom Gen¢rally Accepted Accounting Practice) including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view 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 thos¢ financial statements, the trustees are required to select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent. state whether applicable 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 charitable company will continue in business.
Colin Nei hbourhood Sure Start Pro ect Re ort of the Trustees for the Year Ended 31 March 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued Tlie trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply witli the Coinpanies Act 2006. They are also responsible for safeguarding the assets of the charitable coinpany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditors are unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. AUDITORS The auditors, Lynn Drake & Co Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 3 June 2024 and signed on the board's behalf by.. Miss Carla Leah Fraser - Trustee 10
ort of the Inde endent Auditors to the Trustees and Members of Colin Nei hbourhood Sure Start Pro ect Opinion We have audited the financial statements of Colin Neighbourhood Sure Start Project (the 'charitable company,) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 Marcli 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard appli¢abl¢ in the UK and Republic of Ireland,; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for tl)e audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our oth¢r ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is siiffici¢nt and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the fiiiancial statements, we have concluded that the trustees, use of the going concern basis of ac¢oui)ting in tlie preparation of the financial statements is appropriate. Based on the work we have perforrned, we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on tlie charitable company's ability to continue as a going concern for a period of at Icast twelve months from when the financial statements ar¢ authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other information. The other information comprises tlie information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial stat¢iMents does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assuranc¢ conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other inforination is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, 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.
Re ort of the Inde endent Auditors to the Trustees and Members of Colin Nei hbourhood Sure Start Pro ect Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on which Jve are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified inaterial misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made- or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the charitable company 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 trustees determine is necessary to enable the preparation of financial statements that are free froin material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees 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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 12
ort of the Inde endent Auditors to the Trustees and Members of Colin Nei hbourhood Sure Start Pro'ect Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whethcr the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered niaterial if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above, to detect material misstatements in respect of irregularittes, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the company and industry, we identified the principal risks of non-compliance with laws and regulations as those that have a direct impact on the deterinination of material amounts and disclosures in the financial statements. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial stateinents and determined that the principal risks related to revenue recognition. We communicated the identified laws and regulations throughout the audit team and reniained alert to any indications of non-compliance throughout the audit. Audit procedures performed included, but were not limited to: Discussions witli management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud. Reviewing the financial statement disclosures and testing to supporting documentation. Review of board meeting minutes of those charged with governance. In addressing the risk of fraud through management overide of controls, testing the appropriateness of journal entries and other adjustments. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism 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 perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient 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 oinissions, 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 th¢ charities internal control. Evaluate the appropriatcness of accounting policies used and the reasonableness of accountTrng estimates and related disclosures made by the trustees. Perform analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud or error. 13
ort of the Inde endent Auditors to the Trustees and Members of Colin Nei hbourhood Sure Start Pro ect Conclude on the appropriateness of the trustees, use of the going concern 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 the charities ability to continue as a going concern. If we conclude that a material 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 Inodify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity 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 finan¢Tal statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charge with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including significant deficiencies in internal control that we identify during our audit. A further description of our responsibilities for the audit of the financial statenients is located on the Fiiiaiicial Reporting Council's website at www.frc.org.uk/auditorsr¢sponsibilities. This description forms part of our Report of the Independent Auditors. Use of our report This report is made solely to the charitable company's members, as a body, 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 members those matters we are required to state to thein in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other tha the charitable company and the charitable company's members as a body, for our audit work, for this repo or for pinions we have formed. Billy Drake enior Statutory Auditor) for and on behalf of Lynn Drake & Co Ltd Statutory Auditors I st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE 3 June 2024 14
Colin Nei hbourhood Sure Start Pro ect Statement of Financial Aetivities Incor oralin an Income and Ex for the Year Ended 31 March 2024 enditure Account 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Charitable activities SEH&SCT Public Health Agency 889,237 3,385 889,237 3,385 889,247 3,385 Other trading activities 1,260 1,260 1,358 Total 1,260 892,622 893,882 893,990 EXPENDITURE ON Charitable activities SEH&SCT South Eastern Trust Public Health Agency Governance 725,814 156,178 3,385 5,928 725,814 156,178 3,385 5,928 727,468 156,179 3,385 7,934 Total 891,305 891,305 894,966 INET INCOME/(EXPENDITURE) 1,260 1,317 2,577 (976) RECONCILIATION OF FUNDS Total funds brought forward 2,292 10,665 12,957 13,933 TOTAL FUNDS CARRIED FORWARD 3,552 11,982 15,534 12,957 The notes form part of these financial statements 15
Colin Nei hbourhood Sure Start Pro ect Statement of Financial Position 31 March 2024 31.3.24 31.3.23 Notes CURRENT ASSETS Debtors Cash at bank 13,697 5,797 10,930 5,723 19,494 16,653 CREDITORS Amounts falling due witliin one year 12 (3,960) (3,696) NET CURRENT ASSETS 15,534 12,957 TOTAL ASSETS LESS CURRENT LIABILITIES 15,534 12,957 NET ASSETS 15,534 12,957 FUNDS Unrestricted funds Restricted funds 14 3,552 11,982 2,292 10,665 TOTAL FUNDS 15,534 12,957 The financial statements were approved by the Board of Trustees and authorised for issue on 3 June 2024 and were signed on its behalf by.. Carla Leah Fraser - Trustee Theresa Brady - Trustee Judith Searle - Trustee Jud,kli SeLir The notes form part of these financial statements 16
Colin Nei hbourhood Sure Start Pro ect Statement of Cash Flows for the Year Ended 31 March 2024 31.3.24 31.3.23 Notes Cash flows from operating 2Ctivities Cash generated from operations 74 (465) Net cash provided byl(used in) operating activities 74 (465) Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 74 (465) 5,723 6,188 Cash and cash equivalents at the end of the reporting period 5,797 5,723 The notes form part of these financial statements 17
Colin Nei hbourhood Sure Start Pro ect Notes to the Statement of Cash Flows for the Year Ended 31 March 2024 RECOINCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.24 31.3.23 Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: (Increase)Idecrease in debtors Increase/(decrease) in creditors 2,577 (976) (2,767) 264 2,069 (1,558) Net cash provided byl(used in) operatlODS 74 (465) AINALYSIS OF CHANGES IN NET FUNDS At 114123 Cash flow At 3113124 Net cash Cash at bank 5,723 74 5,797 5,723 74 5,797 Total 5,723 74 5,797 The notes form part of these financial statements 18
Colin Nei hbourhood Sure Start Pro ect Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements (a) General information and basis of preparation Colin Neighbourhood Sure Start Project Limited is constituted as a company limited by guarantee incorporated in Northern Ireland (N1042091). In the event of the charity being would up, the liability in respect of the guarantee is limited to £1 per member of the charity. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements Iiave been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to cliarities preparing tlieir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in 2019), the Financial Reporting Standard applicablc in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2013, the Companies Act 2006 and UK Generally Accepted Practice.. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the Charity. The significant accounting policies applied in tlie preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. (b) Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Tlie aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. (e) Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when th¢ charity Is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. 19 continued.
Colin Nei hbourhood Sure Start Pro ect Notes to the Financial St2tements- continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - continued Basis of preparing the financial statements For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities (SOFA) when receivable. Income received from collections is recognised when received. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. No amount is included In the financial statements for volunteer time in line with the SORP (FRS I02). Further detail is given in the Trustees, Annual Report. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a Contingent asset and disclosed. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. The charity receives government grants which are detailed within the notes to these financial stat¢m¢nts. Income from government and other grants are recognised at fair value when the charity has entitleinent after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If ¢ntitlement is not met then these amounts are deferred. (D) Expenditiure recognition All expenditure is accounted for on an accruals basis, inclusive of VAT which cannot be recovered and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: Costs of raising funds includes the costs associated with attracting voluntary incomes. Expenditure on charitable acttvities includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can b¢ allocated directly to such activities and those costs of an indirect nature necessary to support them- and Other expenditure represents those items not falling into the categories above. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. 20 continued...
Colin Nei hbourhood Sure Start Pro ect Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - Continued Basis of preparing the financial statements Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the r¢cipi¢nt will receive the grants. Where grants are conditional relating to perforinan¢e then the grant is oiily accrued when any unfulfilled conditions ar¢ outside of the control of the charity. (e) Support Costs allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs. governance costs, administrativ¢ payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on an insert detail basis and other overheads have been allocated on a basis consistent with tl)e use of resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of d isseminatiiig information in support of the charitable activities. (O Tangible fixed assets Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to makiiig the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows.. Equipment 25 % Straight Line (g) Financial Instruments A financial ass¢t or a financial liability is recognised only when the charity becomes a party to the contractual provision of the instrument. Basic financial instruments are initially recognised at the amounts receivable or payable including any r¢lated transaction costs. Current assets and current liabilities are subsequently measured at the Cash or other consideration expected to be paid or relived aiid not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably. the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. 21 continued...
Colin Nei hbourhood Sure Start Pro ect Notes to the Financial Statements - continued ror the Year Ended 31 March 2024 ACCOUNTING POLICIES - continued Basis of preparing the financial statements 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 designed hedging relatioi)ship. 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 is 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 recogiiised 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 impairineiit not previously been recognised. (h) Impairment Assets not in¢asur¢d at fair value are reviewed for any indication that the asset may be iinpaired at each balance sheet date. If such indication exists, the recoverable amount of the asset. or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued ainount where the impairment loss is a revaluation decrease. (i) Provisions Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an oufflow of economic benefits will b¢ required in settlement and the amount can be reliably estimated. (i) Leases Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges. are included in creditors. Rentals payable and receivable under operating leases are charged to the SOFA on a straight line basis over the period of the lease. (k) Tax No provision is required for taxation as the company is defined as a charity for taxation purposes. 22 continued...
Colin Nei hbourhood Sure Start Pro'ect Notes to the Financial Statements - continued for the Year Ended 31 Mareh 2024 ACCOUNTING POLICIES - continued Basis of preparing the financial statements The charity is a registered charity and so such is entitled to certain tax exemptions on income and profits from investments and surpluses on any trading activities carried on in furtherance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes. (l) Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have Considered the level of funds held and the expected level of incoine and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. (m) Judgements estimates The following judgements including those involving estimates that have been made in the process of applying the above accounting policies that have had the most significant effect on the amounts recognised in the financial statements and that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year: (i) depreciation method and asset useful lives The estiinates and assumptions are reviewed on an ongoing basis considering the current and future market conditions. Taxation Tlie charity is a registered charity and so sucli is entitled to certain tax exemptions on income and profits from investments and surpluses on any trading activities carried on in furtherance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes. Fund accounting The Charity has various types of funds for which it is responsible, and which require separate disclosure. These are as follows: (i) Restricted Funds Grants or donations received, which are earmarked by the donor for specific purposes within the overall aims of the organisation (li) Unrestricted Funds Funds which are expendable at the discretion of the Directors in furtherance of the objects of the charity. Such funds may be held in order to finance capital investment and working capital Pension costs and other post-retirement benefits The charitable Company operates a defined contribution pension schcme. Contributions payable to th¢ charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 23 continued...
Colin Nei hbourhood Sure Start Pro ect Notes to the Finaneial Statements - continued for the Year Ended 31 March 2024 OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Access Nl CNP Mens Shed 1,260 858 500 1,260 1,358 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Activity SEH&SCT Public Health Agency Grants Grants 889,237 3,385 889,247 3,385 892,622 892,632 Grants received, included in the above, are as follows: 31.3.24 31.3.23 South Eastern Health & Social Care Trust Public Healtli Agency 889,237 3,385 889,247 3,385 892,622 892,632 CHARITABLE ACTIVITIES COSTS Support costs (see note 5) Direct Costs Totals SEH&SCT South Eastern Trust Public Health Agency Governance 725,814 156,178 3,385 725,814 156,178 3.385 5,928 5,928 885,377 5.928 891,305 24 continued...
Colin Nei hbourhood Sure Slart Pro ect Notes to the Finaneial Statements - continued for the Year Ended 31 March 2024 SUPPORT COSTS Governance costs Governance 5.928 NET INCOMEI(EXPENDITURE) Net in¢omel(expeiiditure) is stated after chargingl(crediting): 31.3.24 31.3.23 Accountancy Fee Audit Fee 2,804 1,300 2,396 1,300 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS 31.3.24 31.3.23 Wages and salaries Social security costs Other pension costs 523,974 29,064 28,781 537,710 29,4lO 28,932 581.819 596,052 The average monthly number of employees during the year was as follows: 31.3.24 33 31.3.23 33 Management & Administration No employees received einoluments in excess of £60,000. The key management personnel of the charity comprise of the Chief Executive and Senior management team. The salaries paid to key management personnel being the Chief Executive Officer, Programm¢ Manager, Finance Manager and Programm¢ Co-ordinator during the year totalled £I49,313. (2023.. £142,020) 25 continued...
Colin Nei hbourhood Sure Start Pro ect Notes to the Financial Statements- continued for the Year Ended 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted RestTlCted fund funds Total funds IINCOME AND ENDOWMENTS FROM Charitable activities SEH&SCT Public Healtli Agency 889,247 3,385 889,247 3,385 Other trading activities 1,358 1,358 Total 1,358 892,632 893,990 EXPENDITURE ON Charitable activities SEH&SCT South Eastern Trust Public Health Agency Governance 727,468 156,179 3,385 7,934 727,468 156,179 3,385 7,934 Total 894,966 894,966 NET INCOME/(EXPENDITURE) 1,358 (2,334) (976) RECONCILIATION OF FUNDS Total funds brought forward 934 12,999 13,933 TOTAL FUNDS CARRIED FORWARD 2,292 10,665 12,957 10. TANGIBLE FIXED ASSETS Equipment COST At l April 2023 and 31 March 2024 25,165 DEPRECIATION At l April 2023 and 31 March 2024 25,165 NET BOOK VALUE At 31 March 2024 At 31 March 2023 26 continued...
Colin Nei hbourhood Sure Start Pro ect Notes to the Financial Statements - continued for the Year Ended 31 March 2024 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Prepayments 13,697 10,930 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 3 l.3.23 Accruals and deferred income 3,960 3,696 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restricted fund funds Current assets Current liabilities 3,552 15,942 (3,960) E9,494 (3,960) 16,653 (3,696) 3,552 11,982 15,534 12,957 14. MOVEMENT IN FUNDS Net movement in funds At 3113124 At 114123 Unrestricted funds General fund 2,292 1,260 3,552 Restricted funds Eastern Childcare Partnership 10,665 1,317 11,982 TOTAL FUNDS 12,957 2.577 15,534 27 continued..
Colin Nei hbourhood Sure Start Pro ect Notes to the Financial Statements - continued for the Year Ended 31 March 2024 14. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Moveinent in funds Unrestricted funds General fund 1,260 1,260 Restricted funds Eastern Childcare Partnership Public Health Ageiicy 889,237 3,385 (887,920) {3.385) 1,317 892,622 (891,305) 1,317 TOTAL FUNDS 893,882 (891,305) 2,577 Comparatives for movement in funds Net movement in funds At 3113123 At 114122 Unrestricted funds General fund 934 1,358 2,292 Restricted funds Eastern Childcare Partnership 12,999 (2,334) 10,665 TOTAL FUNDS 13,933 (976) 12,957 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 1,358 1,358 Restricted funds Eastern Childcare Partnership Public Health Agency 889.247 3,385 (891,581) (3,385) (2,334) 892,632 (894,966) (2,334) TOTAL FUNDS 893,990 (894,966) (976) 28 continued...
Colin Nei hbourhood Sure Start Pro ect Notes to the Financial Statements - eontinued for the Year Ended 31 March 2024 15. CONTINGENT LIABILITIES A contingent liability exists to repay grants received should certain conditions not be fulfilled by the charity. 16. RELATED PARTY DISCLOSURES The South Eastern Health & Social Care Trust paid the Colin Neighbourhood Sure Start Project £21,988 in the year ended 31 March 2024 (2023.. £21,989) with regard to salaries and wages for staff seconded to the CNSSP. Payments were also made on behalf of CNSSP by the South Eastern Health & Social Care Trust to the CNSSP Partners. Total partner spend in the year ended 31 Marcli 2024 was £134,190 (2023.. £134,191). A service level agreement has been agreed between CNSSP and each specific partner before processing of these payments. 17. POST BALANCE SHEET EVENTS There are no events undertaken by the charity after 31 March 2024 to be disclosed in this accounting period. 18. WINDING UP Every member of the Company undertakes to contribute to the assets of the Company, in the event of the same being wound up while it is a member, or within one year after it ceases to be a member, for payment of the debts and liabilities of the Company contracted before it ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributor's among themselves, such amount as may be required not exceeding one pound. 19. SHARE CAPITAL The Company is Limited by Guarantee and has no Share Capital 29
Colin Nei hbourhood Sure Start Pro'ect Detailed Statement of Financial Activitie5 for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Other trading activities Access Nl CNP Mens Shed 1,260 858 500 1,260 1,358 Charitable activities Grants 892,622 892,632 Total incoming resources 893,882 893,990 EXPENDITURE Charitable activities Salaries Social security Pensions Insurance Light and heat Telephone Sundries Staff Travel Training and Development Programme Costs - Outreach Programme Costs - Toys Grants to Other Partners/Group Repairs and Maintenance Rent & Room Hire Publications and Resources Priiiting, Stationery & Postage Direct Development Project Costs Uniforms Hospitality Staff Recruitment and Adverts IT Support Cleaning and Materials 523,974 29,064 28,781 3,906 6,987 10,059 43 2,071 3,110 75,811 6,638 134,190 3,159 24,046 537,710 29,410 28,932 3,234 6,547 7,086 422 2,355 5,674 21,896 49,761 134,190 7,789 27,554 1,367 6,941 3,385 2,245 815 6,094 3,385 2,379 900 8,879 7,311 4,590 4.391 5,368 885,377 887,072 Support cost5 This page does not form part of the statutory financial statements 30
Colin Nei hbourhood Sure Start Pro ect Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 Support costs Governance costs Accountancy Fee Audit Fee Bank charges and Interest Affiliation Fees Staff Recruitment and Adverts Legal fees 2,804 1,300 154 1,670 2,396 1,300 328 1,480 1,700 690 5,928 7,894 Total resources expended 891,305 894,966 Net ineome/(expenditure) 2,577 (976) This page does not form part of the statutory financial statements