TIDES Training and Consultsncy Company Limitsd by Guarantee Statement of Financial Activities (including income and expenditure account) Year anded 31 March 2025 2025 Restricted funds Total funds Total funds 2024 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Investment income 146,664 146,664 107,142 845 107,482 119,909 466 107,142 Total incomè 107,987 146,664 254,651 227,857 Expenditure Expenditure on charitsble activities Totsl expendlture 128,273 152,390 280,663 240,412 128,273 152,390 280,663 240,412 Net expenditure (20,286) (5,726) (26,012) (12,555) Transfers beeen funds 1,693 {1,6931 Net movement In fundg {18,593) (7,419) (26,012> (12,555) Reconcillatlon of funds Total funds brought forward Totsl funds carrled forward 500,569 19,104 11,685 519,673 493,661 532,228 519,673 481,976 The st8tement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notss on pages 18 to 28 form part of these financial ststsrnents. 15
TIDES Training and Consultancy Company Limited by Guarantee Statement of Financial Position 31 March 2025 2025 2024 Note Fixed assets Tangible fixed assets Investments 14 1S 2,747 5,494 2,748 5,495 Current assets Debtors Cash at bank and in hand 16 65,430 436,577 35,983 493,904 502,007 529,887 Credltors: amounts falling due within one year Net current assets 17 11,094 15,709 490,913 514,178 519,673 519,673 Total assets less current liabilltles 493,661 493,661 Net assets Funds of the charity Restricted funds Unrestricted funds 11,685 481,976 19,104 500,569 Total charlty fund8 19 493,661 519,673 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 2 December 2025, and are signed on behalf of the board by: 4fy Ms G Hamilton Trustee Dr E Stanton Trustee The notes on pages 18 to 28 form part of these fjnancial statements. 16
TIDES Training and Consultancy Company Limitsd by Guarantee Statement of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from operatlng actlvities Net expenditure (26,012} (12,555) Adjustments for.. DepCiatIon of tangible fixed assets Other interest receivable and similar income Accrued (income}lexpenses 2,747 1845) (12,924) 2,950 (466) 79,378 Changes in.. Trade and other debtors Trade and other creditors (20,523) (615) (58,172) 122,885 {46,613) 145,579 Cash generated from operations Interest received 845 466 Net cash (used in)Ifrom operating actlvities (57,327) 146,045 Net (decrease)lincrease in cash and cash equivalents Cash and cash equlvalents at beginning of year Cash and cash equlvalents at end of year {57,327) 493,904 146,045 347,859 436,577 493,904 The notes on pages 18 to 28 forni part of these flnanclal statements. 17
TIDES Training and Consultancy Company Limited by Guarantee Notss to the Financial Statements Year ended 31 March 2025 General Information The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a gIStered charity in Northem Ireland. The address of the registered office is Duncairn Complex, Duncairn Avenue, Belfast, Co. Antrim, BT14 6BP. Statement of compliance These financial ststements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ire12nd', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting pollcles Basis of preparation The financial statements have been prepared on the historical c05t basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity- Going concern The Trustees have considered the going concern status of the charity and at the time of approving the fi'nancial statements the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, trustees continue to adopt the going concern basis of accounting in preparing the financial Statements. Judgement8 and key sources of estimation uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are Subjected to restriction5 on theirexpenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes.. restricted income funds or endowment funds. 18
TIDES Training and Consultancy Company Limitsd by Guarante8 Notes to the Financial Statements (contlnuedj Year ended 31 March 2025 Accounting policies (contlnued) Incoming resourcos All incoming resources are included in the statement of financial activities when entitlement has passed to the charity,. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is estsblished. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from Ihe cost to the donor or the ests'mated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contributs'on of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unle55 there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. Resources exponded Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitsble activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitsble activities. otherexpenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct Costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are inits'ally recorded at cost, and subsequently stated at cost les5 any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 19
TIDES Training and Consultancy Company Limitsd by Guarantse Notss to the Financial Statements (conllnued) Year ended 31 March 2025 Accountlng policies fcontlnuod) Tangible assets (c¢)ntlnuedJ An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of fi'nancial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreclation Depreciation is calculated so as to write off the cost or valuats'on of an asset, less its residual value, over the useful economic life of that asset as follows.. Fixtures and fittings Computer Equipment 25°/o Straight line 25 /0 Straight line Investments Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Investments In a8soclate8 Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions reiVed from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition. Investments In joint ventures Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fairvalue, with changes in fairvalue taken through income orexpenditure. Where it is impracticable to measure fair value reliably the cost model will be adopted. 20
TIDES Training and Consultancy Company Limited by Guarantee Notes to the Financial Statements {continuedJ Year ended 31 March 2025 Accounting policies (continued) Investments in jolnt ventures (conflnued) Dividends and other distributions reiVed from the investment a recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition. lrnpalrment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated lo each of the cash-generating units that are expected to benefi't from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Flnancial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or otherconsideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business temis 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. Otherfinancial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exptIOn of hedging instruments in a designated hedging relationship. 21
TIDES Training and Consultsncy Company Limitsd by Guarantee Notes to tha Financial Statements (conllnued) Year ended 31 March 2025 Accounting policies (continued) Financial instruments fcontlnuod) Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Deflned contrlbutlon plan8 Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. Ilvhen contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised 8s an expense in the period in which it arises. Llmlted by guarantèo The liability of the member is limited. Every member of TIDES undertakes to contribute to the assets of TIDES, in the event of the same being wound up while in membership or within one year afterwards, for payment of the debts and liabilities of TIDES contracting before Ceasing to be a member, and of the costs, charges and expenses of winding up the same, and for the adjustment of the rights of the contributories amongst themselves, such amount as many be required not exceeding one pound (£1.00) 22
TIDES Training and Consultsncy Company Limited by Guarantee Notes to the Financial Statements (illnued) Year ended 31 March 2025 Donatlons and legacies Restricted Total Funds Funds 2025 Restricted Total Funds Funds 2024 Grants Community Relations Council South West College - Youthscape Department of Foreign Affairs & Trade Cyprus Department of Foreign Affairs & Trade Elevate Program Department of Communities- Jobstart 45,007 38,405 45,007 38,405 46,007 46,007 11,639 11,639 50,521 12,731 146,664 50,521 12,731 49,836 49,836 146,664 107,482 107,482 Charitable activitie8 Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Training & Mediation 107,142 107,142 119,909 119,909 Investmant Income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Bank InteSt receivable 845 466 466 Expendlturo on charitable actlvftles by fund type Unrestricted Funds Restricted Total Funds Funds 2025 Direct costs Support costs 120,603 7,870 152,390 272,993 7,670 128,273 152,390 280,663 Unrestricted Funds Restricted Total Funds Funds 2024 Direct costs Support costs 127,365 7,840 135,205 105,207 232,572 7,840 105,207 240,412 23
TIDES Training and Consultancy Company Limited by Guarantee Notes to the Financial Statements Icontinued) Year ended 31 March 2025 Analysis of support costs DepCiatIon Total 2025 Total 2024 Finan costs Support costs 123 2,747 123 2,747 go 2,950 3,040 2,870 2,870 10. Net expendltur6 Net expenditure is stated after chargingl{crediting): 2025 2024 Depreciats'on of tangible fixed assets 2,747 2,950 11. Auditors remuneratlon 2025 2024 Fees payable for the audit of the financial statements 4,800 4,800 12. Staff costs The total staff costs and employee benefits ft)r the reporting period are analysed as follows-. 2025 2024 Wages and salaries Social security costs Employer contributions to pension plans 187,014 12,312 3,649 202,975 152,912 9,292 3,115 165,319 The average head count of employees during the year was 8 (2024.. 6). The average number of full-ts'me equivalent employees during the year is analysed as follows.. 2025 No. 2024 No. Number of staff - type 1 No employee received employee benefits of more than £60,000 during the year12024.' Nil). Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £45,337 (2024.. £45,091).
TIDES Training and Consultancy Company Limited by Guarantee Notss to the Financial Ststements (contlnued) Year ended 31 March 2025 13. Trustee remuneration and expenses No members of the Board of Trustee received remuneration during the year. No trustee or other person related to the Charity has any personal interest in any contract or transaction entered into by the Charity during the year (2024 - Nil) There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. 14. Tangible fixod assets Fixtures and fittings Equipment Total Cost At 1 Aprll 2024 and 31 March 2025 D•preciatlon At 1 April 2024 Charge ft)r the year At 31 March 2025 5,568 31,626 37,194 5,568 26,132 2,747 31,700 2,747 34,447 5,568 28,879 Carrylng amount At 31 March 2025 2,747 5,494 2,747 At 31 March 2024 5,494 15. Inv08tments There were no investment assets outside the UK The company's investment as the balance sheet date in the share capltal ofthe companies include the following.. Tides Trading Services Limited Registered Offi.. Duncairn Complex, Duncairn Avenue, Belfast, BT14 6BP Nature of busine5S: Dormant Class of share.. Ordinary Holding. 1000/0 2025 2024 Aggregate capital and reserves 16. Debtors 2025 2024 Trade debtors Prepayments and accrued income 26,165 39,265 5,642 30,341 65,430 35,983 25
TIDES Training and Consultancy Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 17. Credltors: amounts falling due within one year 2025 2024 Trade creditors Accruals and deferred income Social security and other taxes Other creditors 2,740 4,000 4,206 148 4.553 8,000 3,224 (68) 15.709 11,094 18. Penslons and other post retirement beneffts Deflned contrlbution plan8 The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £3,649 (2024.. £3,115}. At the year end an amount totalling £947 was outstsnding to be paid (2024.. £731). 19. Analysls of charltable funds Unre8trlcted funds At 31 March 2025 At 1 April 2024 Income Expenditure Transfers General funds Internal Development 479,229 21,340 500,569 107,987 (128,273) 1,693 460,636 21,340 481,976 107,987 (128,2731 1,693 At 31 March 2024 At 1 April 2023 Income Expenditure Transfers General funds Internal Development 490,399 25,000 120,375 (131,545) (3,6601 (135,205) 479,229 21,340 515,399 120,375 500,569 Internal Development These funds £25,000 represent unrestricted income deemed to be available to the Board for designated expenditure incurred as part of the oper8ts.onal and strategic review, investment in reSoUrS and internal development initiatives, some of which were not practically possible to schedule until post year end March 2021. 26
TIDES Training and Consultancy Company Limited by Guarantee Notes to the Financial Statsments (conllnued) Year ended 31 March 2025 19. Analysis of charitable funds (continued) Restricted funds At 31 March 2025 At 1 April 2024 Income Expenditure Transfers Community Relations Council South West College - Youthscape Department of Foreign Affairs & Trade- Cyprus Department of Foreign Affairs & Trade - Strategic Partners Department of Communities - Job Start 45,007 (45.007) 38,405 (38,405) 1,693 (1,893) 17,411 50.521 (56,247) 11,685 12,731 (12,731) (152,390) 19,104 146,664 (1,693) 11,685 At 31 March 2024 At 1 April 2023 Income Expenditure Transfers Community Relations Council South INest College - Youthscape Department of Foreign Affairs & Trade - Cyprus Department of Foreign Affairs & Trade- Strategic Partners Department of Communities - Job Start 46,007 (46,007) 10,120 11,639 (20,066) 1,693 6,709 49,836 (39,134) 17,411 16,829 107,482 (105,207) 19,104 27
TIDES Training and Consultancy Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 20. Analysls of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2025 Tangible fixed assets Investments Net Current assets 2,747 2,747 479,228 481,976 11,685 490.913 Net assets 11,685 493,661 unStrICted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Investments Net Current assets 5,494 5,494 495,074 500,569 19,104 19,104 514,178 519,673 Net assets 21. Analysi8 of changes In net debt At At 1 Apr 2024 Cash flows 31 Mar 2025 Cash at bank and in hand 493,904 157,327) 436,577 22. Related partles There were no related paty transactions for the year ended 31 March 2025 23. Ethical Standards In common with many other businesses of our size and nature our auditors assist the charity to ppare and submit returns to the tax authorities and assist with the preparation of the financial statements. 28