MAINSTAY DRM LTD TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The trustees present their annual report and financial statements for the year ended 31 March 2023. The financial slalements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Meniorandum of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 20191. Objectives and activities The main objectives of the charity are. The provision of accommodation for clienls with learning disabilities andlor aLilism. The trustees have paid due regard to guidance issued by the Charily Commission in deciding what activities the charity should undertake. Mainstay DRM Ltd was established lo.. Mainstay DRM ownslrents properties across the local area including the purpose built facility at Cumulus Heights. lake over ownership and management of the propety of Mainstay DRP., provide strategic management services and guidance lo Mainstay DRP., provide residential, supported housing, respite and day care services for clients with learning disabilities which facilitate the charilable aims of the organisalion through the leasing of assets to Mainstay DRP and the use of the surplus arising from the property leasing and provision of management services by the ompany being used in furtherance of the company's charitable objectives., protect the assets of Mainstay DRP for the wellbeing of the community at large,. help maintain appropriate Reserves in Mainstay DRP in accordance wilh the Reserves policy and secure additional funding. The Cumulus Heights facility features residential homes, supported housing accommodation, a day opportunilies service and a training and administra15ve centre. It provides a modern facility providing valuable services for people with a learnin9 disability and their families. Achievements and perfomance As part Df 115 charitable aclivilies. Mainstay DRM provided the resources for 84 clien15 to lake part in the Beama project IBelfasl Academy of Music & Arts). This involved leaching clients about technology. art and design including how lo design their own individual logo and learning how lo DJ by mixing different music together. A Iolal of 84 clients were involved in the project from both community hub and external clients and resulted in 504 outcomes. Outcomes were achieved in areas such as social engagement. enjoying an aclivily and having fun, learning a new skill. recognising different types of equipment. All participants recorded that they would love lo take part again. Financial roview The resulls for the year are sel out in detail on pages 10 to 23. The Charity had net incoming resoLirces for the year of £55.86912022. £424,292). At the year end cash at bank and in hand was £368,421 12022.. £320,6Q9}. At 31 March 2023, the total funds of the charity amounted lo £3,325.77812022 - £3,269.9091 comprising restricted funds of £IO.000 and unreslricled funds of £3,315.778. Funds lolalling £18.965 12022.. £18,965) have been designated by the trustees for specific purposes. which are explained in more detail in note 19. Unrestricted fund5 are considered lo be essential lo support the work of the charity in providing accommodation and care and support to people who have a learning disability and their families. Unrestricted funds are also essential lo provide sufficient funds lo cover any unforeseen costs which may arise and fulfil the legal obligations of the charity in the event that current levels of income are not maintained. Reserves Policy The organisalion has a reserves policy which ensures it has unrestricted fund5 (cash reserves) not committed or invested in fixed assets to provide for 3 months operating expenditure.
MAINSTAY DRM LTD TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Principal funding sources The principal funding came by way of rental income from NIHE and from Mainstay DRP and various public donations at identified in note 4 of the accounts. Investment policy and objectives Under the Memoranduni and Articles of Association, the charity has the power lo invest in any way the Iruslees wish, however in formulating an investment policy, the charity has recognised that whilst it may have surplus funds to invest, these may be called upon in the short term. The committee have therefore been prudent in its investment strategy ensuring cash is not lied up in long term or non-secure deposils. The policy is lo maximise returns whilst ensuring ongoing liquidity. Plans for future periods The charity is committed to the continued provision of suilable facilities for people with a leaming disability and their families subject to suitable funding arrangements. These facilities are critical for many local families who urgently need support, care and assistance. Structure, governance and management The charity is a company limited by guarantee incorporated on 22 March 2007 and registered as a charity on 20 February 2008. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under rts Articles of Association. In the event of the company being wound up members are required lo contribute an amount not exceeding £1. The trustees, who are a150 the directors for the purpose of company law, and who served during the year and up lo the date of signature of the financial statements were.. Mr J E Gorman Dr P Moore MrsA Kerr Mr P M Morrissey Ms R M McNamee Walsh (Resigned 13 JLily 20231 (Resigned 27 February 2023) (Resigned 13 March 20231 Recruitment and appointment of trustees and rnanagement committee At the first annual general meeting all the directors shall retire from office and al every subsequent annual general meetir)g one director who is subject lo retirement by rotation shall retire. The subscribers to the Memorandum and Articles of Association of the company and such other persons are admitted to membership In accordance with the articles shall be members of the Company. No person shall be admitted a member of the Company unless approved by the directois. The day to ijay running of the charity is overseen by the charity committee, which includes the charity trustees. Committee Member5 Mrs R Gorman Dr P Moore Mrs A Kerr Mr J E Gorman Mr D O'Donoghue Ms J Caven Mrs M Mccargo Mrs R M McNamee Walsh Mr C McKinney Mr P M Morrisey Mr R Todd {Resigned 13 July 20231 (Resigned 13 March 20231 (Resigned 11 September 20231 (Resigned 27 February 20231
MAINSTAY DRM LTD TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI ICQNTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Statem•nt of trustees. responsibilities The Iruslees, who are also the directors of DAainsiay DRfvI Ltd lor the purptsse of company law. are responsible for preparing the Trustees, Report and the financial ilalemen15 in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Gene(ally Accepted Accounting Practice j. Company Law requires the Iruslees 10 prepare financial statements lor each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resourcgs and application of resources. includin9 the income aftd expenditure. of the Gharilable company for Ihal yeai. In prep8ring Ihese financial slalemenls, the trustees are required lo.. select suitable accounting policies and then apply them consislenily., observe the methods and principles in the Charits'es SORP., make judg8menls and eslimales Ihat are reasonable and prudent., and prepare Ihe financial slalemenls on the going concern basi$ lesS il is inappropriate to presume that the ¢harily will continue in operalion. The Iruslees are responsible for keeping adequate accounting records that disdDse with reasonable accuraey at any lime the financial posiliDn of Ihe charily and enable them lo ensure that the financial statements comply with the Companies Acl 2006. They are also responsible for safeguarding the assets ol the charity and hence for laking rèasonable steps foc the prevenlior) and detection of fraud and other irregularits'es. Auditor In accordance with the company's articles, a resolution proposing that GM¢G BELFAST bè reappointed as auditor of the company will be pul al a General Meeting. Dl$¢losure of infonnation to audltor Each of the trustees has confirmed that there is no information of which they aro aware which 15 relevant lo the audit. bul of which the auditoi is unaware. They have frjrther confirmed that they have taken appropriate steps lo identify such relevant information and lo establish Ihal the audilor is aware ol such infoimats'on. The Iruslees, report was approved by the Board ol Trustees. Dr P Moore Trustee 22 November 2023