MAINSTAY DRM LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOMEAND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restrictod
funds
funds
2023
2023
Total
2024
2023
Notes
Income from:
Donations and legacies
Charitable activities
Other trading aclivities
Investments
13,772
251.390
516
8,617
13,772
251.390
516
8,617
9.736
242,578
1.574
1,534
9,736
242,578
1,574
1,534
Total income
274.295
274.295
255.422
255,422
Expenditure on".
Raising fvnds
Charitable activities
730
204,730
730
204,730
2,090
197,463
2,090
197,463
Total expenditure
205.460
205,460
199,553
199,553
Net income
68,835
68.835
55,869
55,869
Transfers between
funds
200,044
(200.044}
Net movement in
funds
10
68,835
68,835
255,913
(200,044)
55.869
Reconciliatton of funds:
Fund balances al 1 April 2023
3,315.T18
10.000 3.325.778
3.059,865
210.044 3,269,909
Fund balances at 31 March
2024
3,384,613
10.000 3,394.613
3,315,778
10,000 3,325,778
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.
11

MAINSTAY DRM LTD
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Fixed assets
Tangible assets
14
3,609,230
3,695.￿2
Current assets
Deblo
Cash at bank and in hand
15
8,220
466.139
9.602
368.421
474.359
378.023
CreditOf4: amounts falNng due wlthln
year
17
(93.972)
(80.632)
Net ¢urv•nt assets
380.387
297,391
Total assets l•u cumnt liablllll
3,989.617
3.992.993
Crodltors: amounts falhng duo after
more than ono y•ar
18
159s.L￿)
(667,215)
hlet assets excludlng pen8lon Hablllty
3.394.613
3.325,778
Net assets
3.394.613
3,325.778
The funds of the charrty
Restricted income funds
Unrestricted funds
19
10.000
3.384.613
10.000
3,315.778
3.394.613
3,325.778
The financial stalements were approved by the truslees orn .... ... . ... . .
FJ
Gorman
Tfustee
Company registralion number Nl(K3756 (Northern Ireland)
12-

MAINSTAY DRM LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Cash flows from operating activitles
Cash generated from operations
25
169,091
137,468
Investlng activltles
Purchase of tangible fixed assets
Investment income received
110,524)
8,617
(24,3531
1.534
Net cash used in investing actlvltles
(1,9071
(22,819)
Financing actlvities
Repayrnenl of bank loans
(69.466)
(66,837)
Net cash used in financing activities
(69,4661
(66,837)
Net Increaso In cash and cash equivalents
97.718
47,812
Cash and cash equivalenls at beginning of year
368.421
320,609
Cash and cash equivalents at end of year
466,139
368,421
13-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Charity information
Mainstay DRM Ltd is a private company limited by guarantee incorporated in Northem Ireland. The registered
office is 2 Cumulijs Heights. Ballyvange, Downpatrick, Co Down. BT30 6￿.
1.1 Accounting convent40n
The financial statements have been prepared in accordance wilh the charity's Memorandum of Association
the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" ('FRS 102.1 and the Charities SORP -Accounting and Reporting by Charities= Slatemenl of
Recommended Practice applicable to charities preparing iheir accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). (effective 1 January 2019). The
charity is a Public Benefit Entity as defined by FRS 102.
The financial stslements are prepared in sterling, which is the functional currenw of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial slalements have been prepared under the historical cost convention. The principal accounting
policies adopted are set oul below.
1.2 Going concern
At the time of approwng the financial statements. the trustees have a reasonable expectation Ihal the charity
has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds a￿ available for use at the discretion of the tnJstees in furtherance of their charitable
objectives.
Designated funds comprisè funds which have been set aside at the discretion of the trustees for specifi
purposes. The purposes and uses of the designated funds are set out in the notes to the financial slatements.
Restricted funds are subject to specific conditions by donors or grantors as lo how they may be used. The
purposes and uses of the restrided funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entided to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be recetved.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
relation io donations received under Gtft Aid or deeds of covenant is recogni5ed at the time of the donalion.
Rental income is recognised in the period to which it relates.
14-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcies (Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefft to
third party, it is probable that a transfer of economic benefits will be required in settlement, and the amounl of
the obligation can be measured reliably.
Expenditure is classtfied by activty. The costs of each acttvity are made up of the total of direct costs and
shared costs, including support costs involved in undertaking each activity- Direct costs attributable to a single
activity a￿ allocated directly to that activity. Shared costs which contribute lo more than one activity and
support costs which are not attributable lo a single activity are apportioned between Ihosè activities on a basis
consistent wilh the use of resour￿$. Central staff costs are allocated on the basis of time spenl. and
depreciation charges are allocated on the portion of the assefs use.
Support costs are those costs incurred directly in support of expen(liture on the objects of the charity.
Govemance costs are those incurred in connection with administration of the charity and compliance with
constitulional and statutory requirements.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. nel of
depreciation and any impairment losses.
Depreciation is recognised so as to V￿rIe 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 % per annum straight line
200/0 per annum straight line
200/0 per annum straight line
20% per annum straight line
Freehold land is not depreciated.
The gain or loss arising on the disposal of an asset is detennined as the dtfference be￿een the sale proceeds
and the carying value of the asset, and is recognised in the statement of financial activities.
1.7 Impaimient of fixed assets
At each feporting end date, the charity reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication
exists. the recoverable amount of the asset is estimated in order to determine the ext8nl of th8 impaimient
loss lif any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-tem 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 to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues. of FRS 102 to all of its financial inslnmenls.
Financial instruments are recognised in the charitys balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
15-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (Continued)
Basic financlal assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction. where the transaction is
measured al the present value of Ihe future receipls discounted al a rnarket rate of interest. Financial assets
dassified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are inib.ally recognised at transaction price unless
the arrangement constilutes a financing transaction. where the debt instrument is measured al the present
value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequenlly carried at amortised cost. using the effectNe interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities rf paymenl is due within one
year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost usin9 Ihe effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the chartty's contractual obligations expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday entiuement is recognised in the period in which the employee's setvicEs are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
lo te￿nInate the employment of an employee or to provide termination benefits.
Critical accounting estimates and judgements
In the applicatr.on of the charity's accounting policies. the trustees are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on hislorical experience and other factors that
are considered to be relevant. Aclual r8sulls may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate 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.
Flxed Assets
The annual depreciation charge on fixed assets depends primarily on Ihe estimaled lives of each type of asset
and estimates of residual values. The tru51ees regularty review these asset lives and change them as
necessary to reflect currenl thinking on remaining lives in light of prospective economic utilisation 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 useful live5 is included in the accounting policies.
Restricted and Unrestricted Funds
Judgements are made in relation to allocation of income and expenditure to restricted and unrestricted funds.
The trustees consider it appropriate to allocate these fijnds based on interpretation of donations and grants
received.
16-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations and legacies
Unrestricted
funds
2024
Unrestricled
funds
2023
Donations and gifts
13.772
9,736
Donations and gifts
Other donations
13,772
9,736
13.772
9,736
Income from charitable activities
Unrestricted
funds
2024
Unrestricted
funds
2023
Charitable activities
Charitable rental income
Other income
235.501
15.889
227,015
15.563
251,390
242,578
Income from other tfadlng activities
Unrestricted Unrestricted
funds
funds
2024
2023
Fundraising events
516
1,574
Income from investments
Unrestricted Unrestricted
funds
funds
2024
2023
Interest receivable
8,617
1,534
17-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Expenditure on raising funds
Unrestricted Unrestricted
funds
funds
2024
2023
Fundraising and publicity
Other fundraising costs
730
2,090
Expenditure on charitable acllvitias
Charitable
activities
Charltable
activities
2023
2024
Dlrect costs
BEAMAActivities
2,433
Share of support and governance costs (see note 9)
Support
Govemance
190.958
13.772
186,108
8,922
204,730
197,463
Analysis by fund
Unrestricted funds
204,730
197,463
Support Costs
Support Govemance
costs
costs
2024
Support Govemance
costs
costs
2023
Depreciation
Rates
Bank Fees
Repairs and
Maintenance
Interest payable and
similar charges
Insurance
Audit fees
Legal and professional
96.896
4,929
156
96,896
4.929
156
92.504
5.830
189
92.504
5.830
189
61.164
61,164
56.515
56,515
27.813
27,873
30,657
413
30.657
413
3,630
5,292
3.900
9,872
3,900
9.872
3,630
5,292
1￿.958
13.772
204.730
186,108
8.922
195,030
Analysed between
Charilable activities
190,958
13,772
204,730
186,108
8,922
195.030
Govemance costs includes payments to the auditors of £3,900 (2023- £3,630) for audit fees.
18-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10 Net movement in funds
2024
2023
The net movement in funds is staled after chargingl(crediting)-
Fees payable for the audit of the charivs financial statements
Deprecialion of owned tangible fixed assets
3,900
96,896
3,630
92,504
11 Trustees
None of the trustses (or any persons connected with them) rec8ived any remuneration or benefits from the
charity during ihe year.
12 Employees
The average monthly number of employees during the year was:
2024
Number
2023
Number
Totsl
There were no employees whose annual remuneration was more than £60,000.
13 Taxation
The charity is exempt from income tax and capital gains tax to the extent that its income and gains are applied
for charitable purposes. No tax charge has arisen in the year.
14 Tangible fixed assets
Freehold land Flxtuyes and
and buildings
frt¢ings
Motor
vehicles
Equlpment
Total
Cost
At 1 April 2023
Additions
Disposals
4.414.951
64.144
10,524
48,339
1,901 4.529,335
10,524
113,000)
(13.000)
At 31 March 2024
4.414,951
74.668
35,339
1,901 4,526,859
Depreciation and impaim)ent
At 1 April 2023
Depreciation charged in the year
Eliminated in respect of disposals
756.695
84,803
45.574
5.816
30.268
5.869
{13,000)
1.196
408
833,733
96,896
{13,0001
At 31 March 2024
841.498
51.390
23,137
1,604
917,629
Carrylng amount
At 31 March 2024
3,573,453
23,278
12,202
297 3,609,230
At 31 March 2023
3.658.256
18.570
18,071
705 3.695,602
19-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Tanglble flxèd assets (Continued)
Freehold land and buildings with a carrying amount of £3.414,319 {2023- £3.499,122) have been pledged to
secure borrowings of the charity.
Land with a carying amount of £159.13412023 - £159,134) is nol being depreciated.
15 Debtors
2024
2023
Amounts falling due within one year.
Other deblors
Prepayments and accrued income
1,382
8,220
8,220
8,220
9,602
16 Loans and overdrafts
2024
2023
Bank loans
667,215
736,681
Payable within one year
Payable after one year
72,211
595.004
69,466
667,215
Amounts induded above which fall due after five yeaTS=
Payable by instalments
275.387
360,142
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 ￿rnpany.
Bank loans are being repaid by way of monthly instalments until Jan 2032 with an interest rale of LIBOR plus
2.6°h.
17 Credttors: amounts falling due wlthin one year
2024
2023
Notes
Bank loans
Trade creditors
Other creditors
Accruals and deferred income
16
72.211
9.223
753
11,785
69,466
11,166
93.972
80,632

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
18 Creditors: amounts falling due after more than one year
2024
2023
Notes
Bank loans
16
595,004
667,215
19 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific condFbons by donors as to how they may be used.
At 1 Aprll
2023
Transfers At 31 Mar¢h
2024
Sensory Garden
10.000
10,000
Previous year:
At 1 April
2022
Transfers At 31 March
2023
Garfield Weston
Bailey Thomas
Beatrice Lang
Ulsler Bank Staff Charity Fund
The Wolfson Foundation
The Clothworkers Foundation
Awards for All Northem Ireland
Ulster Garden
The Forbes Charitable Foundation
Sensory Garden
44,365
26,030
43,383
2.351
27,765
43,383
1.955
9.830
982
10,000
144,3651
126,0301
143.3831
{2,3511
127.7651
(43.3831
(1.9551
(9,8301
1982)
10.000
210.044
(200,044)
10,000
Restricted Funds
The restricted funds as at 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 fijnds were
spent Ihey continued to be identified as restricted as conditions relating to the capital grants are still
applicable. As the wnditions have been satisfied the funds were transferred in the prior year to unrestricted.
Senso
Garden Restricted Fund
This relates to funds thal have been received by Mainstsy 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 2024
20 Unrestricted funds
The unrestricted funds of the charity comprise the unexperbded balances of donats'ons and grants which are
not subjecl to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1 April
2023
Incoming
resources
Resources
expended
Transfers At 31 March
2024
Property fund
Sensory Garden fiJnd
General funds
16.876
2.089
3,296,813
16,876
2,089
3,365,648
274.295
(205,460)
3,315.778
274.295
1205,460)
3,384.613
Previous year:
At 1 April
2022
Incoming
resources
Resources
oxpended
Transfers At 31 March
2023
Propety fund
Sensory Garden ftjnd
General funds
16.876
2,089
3,040,900
16,876
2,089
3,296,813
255.422
1199.553)
200,044
3.059.865
255.422
1199.553)
200.044
3.315.778
The company has designated £18.965 of its unrestricted funds for the following purposes. £16,876 is for any
future capital works which may need to be carried out on its properties. £2.089 has been designated for a
sensory garden.
21 Anatysis of net assets between funds
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 March 2024:
Tangible assets
Current assetsl{liabilities)
Long term liabilities
3.609.230
370.387
{595.004)
3,609,230
380,387
{595,0041
10.000
3.384.613
10,000
3,394,613
-22-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
21 Analysi5 of net assets between funds (Continued)
Unrestricted
funds
2023
Restrlcted
funds
2023
Total
2023
At 31 March 2023:
Tangible assets
Current assetsl(liabilities)
Long lem liabilities
3,695,602
287,391
(667.215)
3,695,602
297,391
(667,215)
10.000
3.315.778
10.000
3.325.778
22 Contingenl Liabilities
A porlion of capital grants received may become repayable rf the Company fails to comply with the tems of the
letters of offer.
23 Capitsl commitments
2024
2023
Amounts contracted for but not provided in the financial statements:
2024
2023
Acquisition of property, plant and equipment
55.977
17,823
24 Related party transactions
The company has a common board of trustees and works closely with Mainstay DRP, which shares the
tharity's passion for providing accommodation and care and support lo people who have a learning disability
and their families. As at 31 March 2024 a balance of £753 is due to Mainstay DRP (2023 - £1.382 due from
Mainstay DRPI.
During the year. the company rented a number of properties to Mainstay DRP for £227,904 {2023: £219,966).
During the year. the charity received service tharge income of£11.196 from Mainstay DRP12023: £8,391).
In additj'on. Mainstay DRP provides management. finance and adminislrative support to the charity for no
charge.
-23-

MAINSTAY DRM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
25 Cash generated from operations
2024
2023
Surplus for the year
68,835
55.869
Adjustments for.
Investment income recogni5ed in statement of financial activities
Depreciation and impaimient of tangible fixed assets
{8.6171
96,896
{1,534}
92,504
Movements in working capitsl:
Decreasellincreasel in debtors
Increase in credrtors
1.382
10.595
(9,602}
231
Cash generated from operallons
169,091
137.468
26 Analysls of changes in net (debt)Ifunds
At 1 Aprll 2023
Cash IlowsAt 31 March 2024
Cash at bank and in hand
368.421
97.718
466,139
Loans falling due wthin one year
Loans falling due after more than one year
{69.466)
(667,215)
12,745}
72.211
172,2111
{595.0041
(368.260)
167,184
(201,0761
-24-