MAINSTAY DRM LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted Restricted
funds
funds
2023
2023
Totsl Unrestricted Restricted
funds
funds
2022
2022
Total
2Q23
2022
Notes
Income from:
Donations and
legacies
Charitable activities
Other trading
activities
Inveslmenls
9.736
242,578
9,736
242,578
311 152
272,077
10,000
321,152
272.077
1.574
1.534
1,574
1,534
4,725
247
4,725
247
Total income
255,422
255,422
588,201
10,000
598.201
enditure on:
Raising funds
2090
2.090
216
216
Charitable activitie5
197,463
197,463
164,814
8,879
173,693
Total expenditure
199,553
199.553
165,030
8,879
173.909
Net incoming resources
before transfers
55.869
55,869
423,171
1,121
424.292
Gross transfers
belween funds
200,044
1200.044)
Net incomel(expenditurel
for the yearl
Net movement in funds
255,913
{200,044)
55.869
423.171
1,121
424.292
Fund balances at 1 April
2022
3,059.865
210,044
3,269.909
2.636.694
208,923
2.845,617
Fund balances at 31
March 2023
3,315,778
10,000 3.325.778
3.059,865
210.044
3.269.909
The slaternent of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The slalement of financial activities also complies with the requiremei)Is for an income and expenditure account
under the Companies Ath 2006.
10

MAINSTAY DRM LTD
BALANCE SHEET
AS AT 31 MARCH 2023
2023
2022
Notes
Fixed assets
Tangible assets
f3
3.695.602
3 763.753
Current assets
Debtors
Cash al bank and In hand
14
9.602
368,421
320 609
378,023
320.609
Creditors.. amounts falling due within
one year
1S
180.6321
177.773)
Net current assets
297.391
242.836
Trjtal assèts1o$s Current Ilabilities
3.992,993
4,006.589
Creditors: amounts falling due after
moro than one year
16
{667 215)
1736.6801
Net assèts
3.325.778
3.269.909
Income funds
Reslricled funds
nreslricled funds
Oesignaled funds
G&noral unrestricted funds
18
10,000
210,044
19
18,965
3 296.813
18965
3 1)40 900
3315 778
3.059.86S
3.325.778
3 269.9a9
The financi
I slalemenls %vere approved by the Tfustees on 22 November 2023
MrJE
Trus
orman
on7pany re9lstration number N10637S6

MAINSTAY DRM LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
Notes
Cash flows from operating activities
Cash generated from operations
24
137,468
192,961
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
asset5
Investment income received
(24,353)
{40,206)
705
247
1,534
Net cash used in investing activities
122.8191
(39,2541
Financing activlties
Repayment of bank loans
166,837}
1362.942)
Net cash used in financing activities
{66,837)
(362,942)
Net increasel{de¢reasel in cash and cash
equivalents
47,812
(209.235)
Cash and cash equivalents at beginning of year
320.609
529,844
Cash and cash equivalents at end of year
368.421
320,609
12-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies
Charity information
Mainstay DRM Ltd is a private company limited by guarantee incorporated in Northern Ireland. The registered
office is 2 Cumulus Heights, Ballyvange, Downpatrick. Co Down, BT30 6￿.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's Memorandum of Association
the Companies Acl 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland. l FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accoLinls in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January 2019}. The
charily is a Public Benefit Entity as defined by FRS 102.
The financial s121ements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
poliues adopted are sel out below.
1.2 Going concern
At the time of approving the financial statements. the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concern basis of accounting in preparing the financial slatemenls.
1.3 Charitable funds
Unreslricled funds are available for use at the discretion of the trustees in furtherance of their chaTltable
objectives.
Designated funds comprise funds which have been Set aside at the discretion of the triistees for specific
purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors as to how they may be usèd. The purposes and
uses of the restricted funds are set out in the notes lo the financial 51atemenls.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met,
the amounls can be measured reliably, and it is probable that income will be received.
Cash donalions are recognised on receipt. Other donations are recognised once the charily has been notified
of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation.
Rental income is recognised in the period to which it relates.
13

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies {Continuedl
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party. it is probable that a Iraiisfer of economic benefits will be required in selllemenl, and the aniount of
the obligation can be measured reliably.
Expenditure is classified by aclivity. The cosls of each activity are made up of the total of direct costs and
shared costs, including support costs involved in uiidertaking each activity. Direct costs attributable lo a single
activity are allocated directly to that activity. Shared costs which contribute lo more than one activity and
support costs which are not attributable to a single activity are apportioned between those activities on a basis
consistent with the Ljse of resources. Central staff costs are allocated on the basis of lime spent, and
depreciation charges are allocated on the portion of the assel's use.
Support costs are those cos15 incurred directly in support of expenditure on the object5 of the charity.
Governance costs are those incurred in connection with administration of the charily and compliance with
constitutional and slalutory requiremenls.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured al cost and subsequently measured al cost or valuation. net of
depreciation and any impairment losses.
Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their
useful lives on the following bases".
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Equipment
2 /v per annum straight line
20 % per annum straight line
20 /0 per annum slraight line
20 /0 per annum slraight line
Freehold land is not depreciated.
The gain or loss arising on the disposal of an asset is deterrnined as the difference behveen the sale Pfoceeds
and the carrying value of the asset. and is recognised in the statement of financial activitie5.
1.7 Impairrnent of fixed assets
Al each reporting end date. the charity reviews the carrying amounts of ils tangible assels to deterniine
whether there is any indication that those assets have suffered ali impairment loss. If any such indication
exists, the recoverable amount of the asset Is eslimated in order to determine the extent of the ImpaiFmenl
loss lif any).
1.8 Cash and cash equivalents
Cash and Gash equivalents include cash in hand. deposits held al call with banks. other short-temi liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments and Section 12
'Other Financial Instrumen15 Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charily's balance sheet when ihe charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial slatemenls, when
there is a legally enforceable right lo sel off the recognised amounts and there is an inteiilion lo settle on a net
basis or to realise the asset and settle the liability simultaneously.
14-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies {Continuedl
Basic financial assets
Basic financial assets, which include debtors arid cash and bank balances. are initially measured at
transaclion price Including transaction costs and are subsequently carried al amortised cost using the effective
interest method unless the arrangemeiit constitutes a financing transaction, where the transaction is
measured al the present value of the future receipts discounted at a market fate of interest. Financial assets
classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are inilially recognised at transaction price unless
the arrangement constitutes a financing Iransaclion. where the debt instrument is measured at the present
value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subseqiiently carried at amortised cost, using the effective interest rate method.
Trade creditor5 are obligations lo pay for goods or services that have been acquired In the ordinary COLirse of
operations from suppliers. AmoLinls payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaclion price and subsequently measured al arnortised Cost using the effective inteiest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charily's contractual obligations expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday enlitlemenl is recognised in the period in which the employee's services are
received.
Terrninalion benefits are recognised immediately as an expense when the charity is demonstrably committed
lo lerrninate Ihe employment of an employee or to provide lerminalion benefits.
15-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Critical accounting estimates and judgements
Iii the application of the charity's accounting policies, the trustees are required to make judgements. eslimales
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assuniplions are based on historical experience and other factors that
are considered lo be relevant. Aclual results may differ from these estiniales.
The estiniales and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the eslimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Fixed Assets
The aniiual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset
and eslimales of residual values. The trustees regularly review these asset lives and chaiige them as
necessary to reflect current Ihinkii)g on remaining lives in light of prospective economic ulilisalion and physical
condition of the assets concerned. Changes in asset lives can have a significant impact on depreciation and
amortisalion charges for the period. Detail of the Liseful lives is iiicluded in the accounting policies.
Restricted and Unrestricted Funds
Judgements are rnade in relation lo allocation of income and expenditure to reslricled and unrestricted funds.
The trustees consider il appropriate lo allocate these funds based on interpretation of donations and grants
received.
Donations and legacies
Unrestricted
funds
Unrestricted Restricted
funds
funds
Totsl
2023
2022
2022
2022
Donations and gifts
9,736
311,152
10,000
321.152
Donations and gifts
Mainstay DRP
Sensory garden
Other donations
297,863
297,863
10,000
13,289
10,000
9,736
13,289
9,736
311,152
10.000
321,152
16

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Charitable activities
2023
2022
Charitable rental incorne
Other income
227,015
15,563
240,493
31,584
242.578
272,077
Other trading activities
Unrestricted Unrfrstricted
funds
fund$
2023
2022
Fundraising events
1,574
4,725
Investments
Unrestricted Unrestricted
funds
funds
2023
2022
Interest receivable
1.534
247
Raising funds
Unrestricted Unrestricted
funds
funds
2023
2022
Fundraisin
and ublicit
Other fundraising costs
2.090
216
2.090
216
17-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Charitsble activities
Totsl
2023
Total
2022
BEAMA Activities
2,433
Share of support costs (see note 9}
Share of governance costs (see note 91
186,108
8,922
169,886
3,807
197,463
173,693
Analysis by fund
Unrestricted funds
Restricted funds
197,463
164.814
8,879
Support Costs
Support Governance
costs
costs
2023
Support Governance
costs
costs
2022
Depreciation
Rates
Bank Fees
Repairs and
Mainiellance
Provision for doubtful
debts
Interest payable and
similar charges
Insurance
Audit fees
Legal and professional
92,504
5.830
189
92.504
5.830
189
91.219
5,186
92
91,219
5,186
92
56,515
56,515
27,431
27,431
8,605
8,605
30.657
413
30.657
413
3.630
5,292
37,353
37,353
3.630
5,292
3.592
215
3,592
215
186,108
8,922
195.030
169.886
3.807
173,693
Analysed between
Charitable activities
186.108
8.922
195.030
169,886
3,807
173,693
Governance costs includes payments to the auditors of £3.63012022- £3,592) for audit fees.
10 Trustees
None of the tru51ees lor any persons connected with them) received any remuneration or benefits from the
Gharity during the year.
18

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
11 Employees
The average monthly number of employees during the year was..
2023
Number
2022
Number
Total
There were no employees whose annual remuneration was more than £60.000.
12 Taxation
The charity is exempl from lax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
13 Tangible fixed assets
Freehold land Fixturès and Motor v8hlcl8s
and bulldings
fittings
Equipmont
Total
Cost
At 1 April 2022
Additions
Disposals
4,414,951
92.452
9.714
{38.0221
33,700
14,639
5,245
4.546,348
24.353
141.366)
(3,344}
At 31 March 2023
4,414.951
64.144
48.339
1,901
4,529,335
Depreciation and impairment
At 1 April 2022
Depreciation charged in the year
Eliminated in respect of disposals
671,891
84.804
80,088
3,508
(38,0221
26,484
3,784
4,132
408
{3,344}
782.595
92.504
141.366)
At 31 March 2023
756.695
45,574
30,268
1,196
833,733
Carrying amount
Al 31 March 2023
3.658.256
18,570
18,071
705
3,695.602
At 31 March 2022
3,743.060
12,364
7,216
1,113
3,763.753
Freehold land and buildings with a carrying amount of £3.499.12212022 - £3,583.9261 have been pledged lo
secure borrowings of the charity.
Land with a carrying amount of £159,13412022 - £159,134) is not being depreciatéd.
19-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
14 Debtors
2023
2022
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
1.382
8.220
9,602
15 Creditors: amounts falling due within one year
2023
2022
Notes
Bank loans
Accruals and deferred income
17
69,466
11,166
66.838
10.935
80,632
77,773
16 Creditor5: amounts falling due after more than one year
2023
2022
Notes
Bank loans
17
667,215
736,680
17 Loans and overdrafts
2023
2022
Bank loans
736,681
803,518
Payable within one year
Payable after one year
69.466
667,215
66.838
736.680
Amounts included above which fall due after five year5..
Payable by instalments
360.142
441,584
Bank loans are secured by a floating charge over assets and undertakings of the charitable company and by
way of a legal mortgage over the properties owned by the charitable company.
Bank loans are being repaid by way of monthly instalments iintil Jan 2032 with an interest rate of LIBOR plus
20-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
18 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balance5 of
donations and grants held on trust for specific purposes..
Movement in funds
Incoming
Resources
Balance at
rg$our¢e$
•xp¢ndod 1 Aprll 2022
Balance at
1 April 2021
Transfers
Balance at
31 Mar¢h 2023
Garfield Weston
Bailey Thomas
Beatrice Lang
Ulster Bank Staff Charity
Fund
The Wolfson Foundation
The Clothworkers
Foundation
Awards forAII Northern
Ireland
Ulster Garden
The Forbes Charitable
Foundation
Sensory Garden
45,693
26.630
44.383
{1.3281
(600}
(1,0001
44.365
26.030
43.383
{44,365)
(26,030)
(43,383)
2,405
28,405
1541
(6401
2,351
27,765
{2,351)
{27.765)
44,383
{1,000)
43.383
{43,383)
2.607
13,107
16521
{3,277}
1.955
9.830
(1,955)
(9,830)
1,310
(328)
982
10,000
(982)
10,000
10.000
208.923
10.000
(8,879}
210.044
(200,044)
10,000
Restricted Funds
The restricted fund5 as al 31 March 2022 relate to income received from providers towards the construction of
Cumulus Heights and the provision of equipment and fixtures for the new facility. Although these funds were
spent they continued lo be identified as reslricled as conditions relating to the capilal grants are still
applicable. Now the conditions have been satisfied the funds have been transferred in the year lo unrestricted.
Senso
Garden Restricted Fund
This relates lo funds that have been received by Mainstay DRM or fundraised specifically for the construction
of a sensory garden.
21

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
19 Designated funds
The income funds of the charity include the following designated funds which have been sel aside out of
unreslricled funds by the trustees for specific purposes..
Movement
in funds
Incoming
r•sour¢gs
Movement
in funds
In¢omlng
Balance at
resources 31 March 2023
Balance at
1 Aprll 2022
Propety fund
Sensory Garden fund
16,876
2,089
16.876
2,089
16,876
2,089
18,965
18.965
18,965
The company has designated £18,965 of its unrestricted fund5 for the following purposes. £1 6.876 is for any
future capital works which may need ID be carried out on ils properties. £2.089 has been designated for a
sensory garden.
20 Contingent Liabilities
A portion of capital grants received may become repayable if the conipany fails lo comply with the terms of the
letters of offer.
21 Capitsl commitments
2023
2022
Al 31 March 2023 the charity had capital commitments as follows..
Contracted for but not provided in the financial statements..
Acquisition of property, plant and equipment
17.823
50.000
22 Related party transactions
The company works closely with Mainstay DRP which shares the charity's passion for providing
accommodation and care and support to people who have a learning disability and their families. As at 31
March 2023 a balance of £1.38212022'. £nil} is owed lo the charity from Mainstay DRP.
During the year, the company rented a number of properties to Mainstay DRP for £219,966 (2022.. £223,617)
and received training facilities and consultancy seNice income of £2.411 12022.. £28,936). During the year, the
charity received service charge income of £8.391 from Mainstay DRP {2022'. £nil).
In addition, Mainstay DRP provides management, finance and administrative support lo the charrty for no
charge.
22-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
23 Analysis of net assets be￿een funds
Unrestricted Restricted
funds
funds
2023
2023
Totsl Unrestricted Restricted
funds
funds
2022
2022
Total
2023
2022
Fund balances at 31
March 2023 are
represented by".
Tangible assets
Current assetsl{liabilities>
Long term liabilities
3,695,602
287.391
1667,215)
3,695.602
3,563.709
297,391
232.836
(667,2151 1736.6801
200,044
10,000
3.763,753
242,836
1736.680)
10,000
3.315,778
10,000
3,325,778
3,059.865
210,044
3.269.909
24 Cash generated from operations
2023
2022
Surplus for the year
55.869
424.292
Adjustrnent5 for..
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
11,534}
92.504
12471
91.219
Movements in working capital..
(Increaselldecrease in debtors
Increasel{decreasel in creditors
(9,602)
231
11,025
1333,3281
Cash generated from operations
137,468
192,961
25 Analysis of changes in net Idebtlmunds
At 1 April 2022
Cash flowsAt 31 March 2023
Cash at bank and in hand
320.609
47,812
368,421
Loans falling due within one year
Loans falling due afler more than one year
{66.8381
1736.6801
{2,628)
89,465
169,4661
{667,2151
1482,9091
114.649
1368,2601
23-