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2023-08-31-accounts

Holywood Family Trust (A company limited by guarantee)

Charity Accounts and Financial Statements for the year ended 31 August 2023

Company Registration Number NI50431 Registered Charity Number NIC103344 (Northern Ireland)

HOLYWOOD FAMILY TRUST - 2023 ANNUAL REPORT

Holywood Family Trust (A company limited by guarantee)

Charity Accounts and Financial Statements for the year ended 31 August 2023

Contents
 Page
Legal and Administrative Information 3
Statement of Financial Activities 4
Balance Sheet 5
Cashflows from Operating Activities 6
Notes on the Financial Statement 7

© Holywood Family Trust 2023

Community & Family Centre 108-112 High Street, Holywood, Co Down BT18 9HW

2

HOLYWOOD FAMILY TRUST – 2023 ANNUAL REPORT

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NAME

Holywood Family Trust (HFT)

REGISTERED CHARITY NUMBER

NIC103344

COMPANY REGISTRATION NUMBER

NI50431

TRUSTEES/DIRECTORS

C McWhirter (Chairperson) Resigned 30.9.23 I Wilson (Director and Chairperson from 1.10.23) M Watson (Treasurer) E Smyrl (Deputy Chairperson) R McCullough (Director)

COMPANY SECRETARY

SENIOR MANAGEMENT TEAM

S Moore N Dornan A Fitzsimmons

REGISTERED OFFICE & 1 08-112 High Street BUSINESS ADDRESS Holywood County Down BT18 9HW

AUDITOR Elaine Mulholland Johnston Graham Ltd 216 Holywood Road Belfast BT4 1PD

BANKERS

Danske Bank Donegall Square West Belfast Co. Antrim BT1 6JS

3

HOLYWOOD FAMILY TRUST - 2023 ANNUAL REPORT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023 (including income and expenditure account)

Unrestricted Restricted
Note
Funds
Funds
2023
2023
£
£
Incoming resources
Incoming resources from generated funds
Voluntary income
2
10,398
37,896
Activities for generating funds
Investment income
4
747
Incoming resources from charitable activities
5
104,720
438,294
Total incoming resources
115,865
476,190
Resources used
Charitable activities
7
73,079
439,737
Governance costs
7
500
1,000
Total resources used
73,579
440,737
Net (loss)/income for the year
42,286
35,453
Transfers
Gross transfers between funds – in
Gross transfers between funds – out
Net movement in funds
42,286
35,453
Total fund balances brought forward
252,963
114,181
Total fund balances carried forward
£295,249
£149,634
Total
2023
£
48,294
747
543,014
592,055
512,816
1,500
514,316
77,739
77,739
367,144
£444,883
£		 Total
2022
£
94,817
63
482,733
577,613
561,627
1,980
563,607
14,006
16,691
(16,691)
14,006
353,138
367,144

There were no other gains or losses recognised during the year so that a separate statement of total recognised gains and losses is not required.

There is no difference between the net income for the year stated above and its historical cost equivalent.

4

HOLYWOOD FAMILY TRUST – 2023 ANNUAL REPORT

BALANCE SHEET AS AT 31 AUGUST 2023

Note
CURRENT ASSETS
Debtors
9
Cash at bank and on hand
CREDITORS– amounts falling due
within one year
10
NET CURRENT ASSETS
NET ASSETS
REPRESENTED BY
Restricted funds
11
Unrestricted funds
General
Designated
Total unrestricted funds
11		 2023
£
3,789
447,526
451,315
6,432
149,634
221,370
73,879		 2023
2022
£
£
17,851
356,589
374,440
7,296
444,883
£444,883
114,181
218,579
34,384
295,249
£444,883		 2022
£
367,144
£367,144
252,963
£367,144

5

HOLYWOOD FAMILY TRUST - 2023 ANNUAL REPORT

Year ended 31 August 2023

2023
£
Cash flows from operating activities
Net (expenditure)/income
77,739
Adjustments for:
Depreciation
Interest payable and similar charges
Changes in:
Trade and other debtors
14,062
Trade and other creditors
(864)
Cash generated from operations
90,937
Interest paid
-
_
Net cash used in operating activities
90,937
Cash flows from investing activities
Purchase of tangible assets
Net cash used in investing activities
Net increase /(decrease) in cash and cash equivalents
90,937
Cash and cash equivalents at beginning of year
356,589
Cash and cash equivalents at end of year
447,526		 2022
£
14,006
18,814
812
33,632
--
_
33,632
33,632
322,957
356,589

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved by the board of Trustees on 25[th] June 2024 and were signed on their behalf by:

MR IAIN WILSON Director

MR M WATSON Director

6

HOLYWOOD FAMILY TRUST – 2023 ANNUAL REPORT

NOTES ON THE FINANCIAL STATEMENTS - 31 AUGUST 2023

1. Accounting policies

The Charity's principal accounting policies are stated below.

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

Basis of preparation of accounts

The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities: Statement of recommended practice”, applicable to charities preparing in accordance with the Financial Reporting Standard, applicable to UK and ROI, effective from January, 2015 (FRS102), and the Companies Act 2006 The Charity has taken advantage of the exemption in FRS1 ‘Cash flow statements’ from the requirement to produce a cash flow statement because it is a small company.

Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the charitable objectives of the Charity. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. Restricted income funds are funds subject to specific restrictions imposed by donors or by the purpose of the appeal. The receipt and use of restricted funds are set out in the financial statements.

Incoming resources

All income (including grants) is accounted for as soon as the Charity has entitlement to the income, there is certainty of receipt and the amount is quantifiable.

The value of donated services cannot be quantified and is not included in the financial statements. Many individuals routinely give of their time and talents that cannot be recorded in these financial statements.

Resources used

All expenditure is accounted for on an accruals basis and includes any VAT that cannot be fully recovered.

Governance costs include the direct clearly identifiable costs of governance arrangements that relate to the general running of the Charity. These activities provide the governance infrastructure that allows the Charity to operate and to generate the information required for public accountability.

Indirect governance costs, such as staff costs and office supplies, have not been separately identified and accounted for since the cost and time of doing so is not considered sufficiently beneficial to a reader of these financial statements.

Fixed assets

Assets with a cost in excess of £2,000 intended to be of ongoing use to the Charity in carrying out its activities are capitalised as fixed assets.

Depreciation is charged on tangible fixed assets at 25% of cost per annum, so as to write them off over their expected useful lives.

7

HOLYWOOD FAMILY TRUST - 2023 ANNUAL REPORT

NOTES ON THE FINANCIAL STATEMENTS (CONTINUED) - 31 AUGUST 2023

2a
Voluntary income
Donations (see Note 2b)
Grants (see Note 3)
2b
Donations
Donations totalling £2565 were received.
3
Grants received
Bright Start
Ards & North Down Borough Council
Education Authority SE Region
St Anne’s Cathedral (Dean’s Appeal)
Basque Youth Exchange (Erasmus)
Public Health Agency (Clear Project)
HSCB Small Grant
Other miscellaneous grants
HMRC Coronavirus Job Retention Scheme
Early Years Childcare Recovery Scheme (CV-19)
Police Property Fund
Department for Communities
Habinteg
4.
Investment income
Interest receivable

5.
Incoming resources from charitable activities
Fees receivable – Childcare
Fees receivable – Counselling
Income from government bodies (see Note 6)
Income from services and training
Rental income
Participant contributions (youth trips & residentials)
Other miscellaneous income

£		 2023
£
2,565
45,729
£48,294

2023
£
5,833
6,594
26,218
2,000
1,364
3,290
430
£45,729

2023
£
£747
2023
£
85,254
5,695
438,152

11,000
600
898
1415
543,014
£		 2022
£
(925)
95,742
£94,817
2022
£
6,926
8,572
59,263
750
4,302
3,420
2,500
48
4,473
5,488
£95,742
2022
£
£63
2022
£
58,241
394,898
11,927
808
16,859
-
482,733

8

HOLYWOOD FAMILY TRUST – 2023 ANNUAL REPORT

NOTES ON THE FINANCIAL STATEMENTS (CONTINUED) - 31 AUGUST 2023

6.
Income from government bodies
Department for Communities
Education Authority
Department of Health
Public Health Agency
£		 2023
£
58,175
175,321
124,635
80,021
438,152
£		 2022
£
62,806
210,487
62,317
59,288

394,898

The Department for Communities (DfC) part-funded the posts of CEO, Operations Support Manager and Finance Officer.

The Public Health Agency (PHA) and Department of Health (DoH) provided funding in connection with counselling services undertaken during the year.

The Education Authority (EA) provided funding to support youth work services during the year.

7.
Resources used
Unrestricted Restricted
Funds
Funds
2023
2023
£
£
Charitable activities
(a) Staff, contract staff and recruitment costs
51,346
329,656
(b) Programme costs
9,348
41,031
(c) Premises, insurance and utility costs
8,808
58,288
(d) Equipment & ICT Systems
3,013
6,974
(e) Post, stationery and office costs
3
2,031
(f) Miscellaneous costs
561
1,757
73,079
439,737
Governance costs
(g) Audit
500
1,000
(h) Accountancy and independent examination
(i) Legal services
-
-
-
£73,579
£440,737
£		 Total
2023
£
381,002
50,379
67,096
9,987
2,034
2,318
512,816
1,500
-
514,316
£		 Total
2022
£
377,347
84,519
48,906
48,723
1,969
163
561,627
1,500
480
-
1,980
563,607

9

HOLYWOOD FAMILY TRUST - 2023 ANNUAL REPORT

NOTES ON THE FINANCIAL STATEMENTS (CONTINUED) - 31 AUGUST 2023

8.
Staff costs
Employment costs of all employees were as follows:
Gross salaries and wages
Social security costs
Pension contributions
Total staff costs
£		 2023
£
355,867
16,221
8,914
381,002
£		 2022
£
326,206
18,975
9,686
354,867

No employee earned £60,000 p.a. or more.

The average number of paid staff (excluding self-employed contractors) during the year was 26 (previous year 24).

No trustee received any remuneration or expenses for services as a trustee.

9.
Debtors
Trade debtors
Prepayments
Accrued income
£
Trade debtors are due within one year.
10.
Creditors – amounts falling due within one year
Creditors
Accruals
Taxation and social security
£		 2023
£
877
2,000
912

3,789
£
2023
£
30
1,500
4,902
6,432
 2022
£
1,343
6,000
10,508
17,851
2022
£
160
1,500
5,636
£7,296

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HOLYWOOD FAMILY TRUST – 2023 ANNUAL REPORT

NOTES ON THE FINANCIAL STATEMENTS (CONTINUED) - 31 AUGUST 2023

11. Movements of funds

Analysis of restricted fund movements:

Fund name Balance at
31-8-2022
£		 Balance at
31-8-2022
£		 Incoming
resources
£		 Incoming
resources
£		 Outgoing
resources
£		 Outgoing
resources
£		 Transfers
£		 Balance at
31-8-2023
£		 Balance at
31-8-2023
£
AND – Community Development
Grant		 - 1,597 1,597 --
AND–PCSP-Policing
&
Community Safety Partnership		 - 4,996 4,996 - -
Police Property Fund 1,322 1,364 2,686 - -
DoH – Counselling services 38,377 124,635 84,655 - 78,357
PHA – Counselling services 2,697 80,020 75,821 - 6,896
DfC – Core Staff 4,679 61,465 59,616 - 6,528
EA – Area funding 9,236 113,400 112,099 - 10,537
EA – Summer Boost 867 - 867 - -
EA – Small Grant Programme 356 356 - -
EA – Start/Engage 50,418 68,138 76,736 - 41,820
EA – TPP – Capacity Building 5,000 4,858 - 142
EA – TBUC 6,230 15,000 15,876 - 5,354
Habinteg TBUC 430 430 - -
YXC-BL-Erasmus Youth
Exchange Berlin		 141 141 - -
Total restricted funds £ 114,182 £ 476,186 £ 440,734 £- £ 149,634

A separate restricted fund is established for each funding programme. Each fund supports the charitable activities of the Charity.

11

HOLYWOOD FAMILY TRUST - 2023 ANNUAL REPORT

NOTES ON THE FINANCIAL STATEMENTS (CONTINUED) - 31 AUGUST 2023

Analysis of unrestricted fund movements

Fund name Balance at
31-8-2022
£		 Balance at
31-8-2022
£		 Balance at
31-8-2022
£		 Incoming
resources
£		 Incoming
resources
£		 Incoming
resources
£		 Outgoing
resources
£		 Outgoing
resources
£		 Outgoing
resources
£		 Transfers
£		 Balance at
31-8-2023
£		 Balance at
31-8-2023
£		 Balance at
31-8-2023
£
Designated funds:
Community Counselling 4,115 7,355 (3,438) - 14,908
Families in Need 2,450 900 635 - 2,715
RLPTG – Redburn Loughview
Parent and Toddler Group		 380 357 - 23
After School Club 11,825 93,086 68,949 - 35,962
Young People Leading Change 5,533 10,930 5,501 - 10,962
Youth Activities 10,461 376 1,528 - 9,309
Total designated funds 34,384 113,027 73,532 73,879
General fund 218,579 2,837 46 - 221,370
Total unrestricted funds £ 252,963 £ 115,864 £ 73,578 £295,249

Resources from the designated funds may be transferred to the general fund at any time.

12. Assets and liabilities held in each fund

Current assets less liabilities General
Designated
Restricted
fund
funds
funds
£
£
£
221,370
73,879
149,634		 Total
funds
£
444,883

13. Financial commitments

The Charity has the following annual financial commitments under operating leases:

Expiring in 1 year

£		 2023
£
24,000
24,000
£		 2022
£
33,500
33,500

The previous lease with Holywood CFC expired in September 2020 the parties renewed the agreement on a yearto-year basis. There is also a memorandum of understanding with Holywood CFC that agrees the year’s heat and light, telephone and other sundry expenses.

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HOLYWOOD FAMILY TRUST – 2023 ANNUAL REPORT

NOTES ON THE FINANCIAL STATEMENTS (CONTINUED) - 31 AUGUST 2023

14. Related party transactions The Charity was originally founded in 2004 by members of Holywood Christian Fellowship Church (‘HCFC’) and currently leases HCFC’s premises. The Trustees do not consider HCFC to be a related party as each has its own separate Trustees, management and administration organisation. The Trustees consider the disclosure of transactions with HCFC to be appropriate given the origin of the founding members.

Name Nature of entity Principal activity
Holywood Christian Fellowship Church Trust Church
The following is a summary of the payments to HCFC during the year:
2023 2022
£ £
Resources expended
Rent and room hire 24,000 33,500
Electric and gas 8,990 4,633
Water charges 1,007 884

15. Pension contributions

HFT continues to make pension contributions to a defined contribution scheme for certain employees and maintains an Auto Enrolment Pension Scheme for all eligible Staff.

16. Contingent liabilities

There is a contingent liability to repay certain grants received if the grant aiding authority decides that a project subject to the grant aid was not properly performed in accordance with the grant application.

17. Taxation

The Charity is accepted as a charity by HM Revenue & Customs. Consequently, no provision is considered necessary for taxation.

18. Share capital

The Charity does not have a share capital and is limited by guarantee.

13