REGISTERED CHARITY NUMBER: NIC103690 ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2023 for Altram Lynn Drake & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moira Co. Annagh BT67 OLE
Altram Contents of the Financial Statements for the Year Ended 31 March 2023 Page Reference and Administrative Details Report of the Trustees Independent Examiner's Report Statement of Financial Activities Statement of FADancial Position Notes to the Financial Statements 10 to 20 Detailed Statement of Financial Activities 21
Altram Reference and Administrative Details for the Year Ended 31 March 2023 TRUSTEES Aine Andrews (chale[SOn) Theresa Brady (Treasurer) Sue Pentel (Secretary) Aoife Ni Phoilin Maureen Murray PRINCIPAL ADDRESS Offic¢ l Mill House Twin Spires 155 Northumberland Street Belfast Co. Antriin BT13 2JF REGISTERED CHARITY NUMBER NIC103690 INDEPENDENT EXAMINER Lynn Drake & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moira Co. Annagh BT67 OLE BANKERS Ulster Bank Andersonslown Braiich Unit G Westwood Centre Kennedy Way Belfast BTI19BQ
Altram )ort of the Trustees for the Year Ended 31 March 2023 The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities Preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ire1]d (FRS 102) {¢ff¢ctive l January 2019). OBJECTIVES AND ACTIVITIES Aidhmeanna l Aims Altram is gIStered with The Charity Conunission for Northern Ireland NIC103690. It operates under a Constitution dated 5th March 2012. Altram is classified under th¢ following descriptions of cliaritable purpose: -The advanceinent of education -The advancement of arts, culture, heritage or scienc¢. Altram shall be non-politi¢al. non-racial and non-sectarian in character. Altram is established to advancc thc following aim5'. l. The advancement of Irish-medium carly years, care and cducation 11. The promotion and delivery of quality lrish-m¢dium early years, care and education servic¢s to meet conllnunity nccd and dcinand III. The involvenient of families, parents and carers in the early learning experiences of their children IV. The provision of relatcd training and support to thc Irish-lncdium early y¢ars' scctor V. Th¢ developrnent of early years, care and eduutionaI services as the foundation for Irisb-medium education Principle activitie5 Altrain exists to promote high quality Irish-medium early years childcare and education which is open to all, and to support farnily involveinent as a keystone in the dcvelpment of an Irish language community.
Altram )ort of the Trustees for the Year Ended 31 March 2023 OBJECTIVES AND ACTIVITIES Public benefit l The advancement of Irish-medium (IM) early years, care and education in Northern Ireland through ensuring access to th¢ latter, and proinoting aiid representing the early years, sector to rclevaiit agcncies and authorities. Beneficiaries are children who attend IM early years settings, which pi-cpares them for successful transition to IM primary schools. bcnefitting the child, the school and ultiinately the widcr Irish languagc community. Staff, professionals and committees gain hands-on training in sUPPOrt of their respective roles. Parents and car¢rs access a range of language resources which support positive play and learning. Relevant authorities and support agencies are better infonned of the benefits, needs and challenges of the sector and the value of bilingual education. 2 To Promote and deliver quality IM early years, care and education services to meet coinmunity need and demand. Benefits are demonstrated through the year-on-ycaT incrcase in dcinand for IM Early Years Education which now includes over 65 settings across the North. Childr¢n benefit froin a quality early years, experience and the recognised bcncfits of bilingualism. Government policics and stateinents (Bclfast Agreement, Programme for Cohesion, Sharing and Integration, Nl Prograiillne for Government, 2011-2015) have identified the Irish language as a shared cxpression of our cultural wcalth and therefore of publi b¢nefit. Increased numbers of speakers mak¢ a contribution to our intangible heritag¢. 3 To involve families. parents and caT¢rs in the early Icarning CXPCTiences. Benefits are demonstrated through the increased uptake of places at IM early years, settings. the nuiiiber of parents and families opting to Teccivc advicc and support and lcarniiig opportunitics; the cnhanced CODfidencc and sclf-¢steem of hildren and parents. the increasing engagement of participants in government family support initiatives. 4 To provide related training and support to the IM early years, sector. Benefits. ar¢ demonstrated through uptake and delivery of serviccs in a givcn year (2022-2023).. over 300 Early Years Specialists, on-site support visits; attendance of over 300 at cluster/in-s¢rvice training and curriculum and child protection cowses" positive outconies from th¢ Education and Training Inspectorate inspections. Young children and families benefit from appropriately trained staff who, in turn, arc inore confident and compctcnt as a result of additional tt'aining and support. Children benefit froin parents who are more engaged and involved in tlieir early cducation. Committ¢¢s benefit froiii training in support of their roles. 5 The development of Irish-lnedium early years, care and educational services as th¢ foundation for IM education. Irish-medium education is the most eff¢ctive way of producing fluent, confident Irish speakers who will contribute to the Irish language community, helping to inaintain and preserve an important part of our shaTed cultural heritage. The direct benefits which flow froin this purpose are children who b¢come fluent second language speakers; schools which benefit from the quality foundation experience of children and the early engagement of parents in their children's ¢ducation. Bencfits to the wider community include enhanced awareness of the value of education and increased knowledg¢ of a variety of aspects of our intangible cultur¢ such as language, literature, art, folklorc ¢tr. These benefits are d¢rnonstrated through tlie growing numbers of children attending all phases of IM schooling. the incr¢ased involvement of parents and Cars. the increascd numbers of workers in the early years sector who opt for furtlier training in language p¢dagogy and immersion languag¢ metliodology. Private benefit may arise from time to tiinc when Altram secures the services of workshop facilitators, speakers or educationalists. These benefits are incidental and are a necessary result or by-product of our purposcs. No identifiable public hami arises.
Altram J)ort of the Trustees for th Year Ended 31 March 2023 FIIYANCtAL REVIEW The company had net incoining resources for the year of £12.592 (2022.. net incoming resources of £871), which reflected the completion of a numbcr of projects during the year. Unr¢stricted funds increased by £831, while Testricted funds increased £11,761. The total funds at the end of the year amount to £119,619 (2022= £107,027) RESERVES POLICY The charity's policy is to retain a lev¢1 of free Teserves, which matches the necds of the organisation both at the current time and in the foreseeable The charity has developed a plan to estsblish and maintain this agreed level of free Teserves. The charity will continue to monitor coinplianc¢ witli this policy on a Tegular basis and the Committee will r¢vicw tlie appropriateiiess of the policy annually. Scope This policy applies to all employees, volunteers or board m¢inbers of Altram. Context Altram aims to keep money aside as a reserve to protect the charity against drops in income or to allow it to take advantage of new opportunities. Altram's rcs¢rves can be spcnt on any of its aiins. Monitoring and reviewing the Reserves Policy Altram will review th¢ Reserves Policy on ali annual basis at the time of the aimual accounts being prepared. Beneficiaries Altram is a charsty which receives funding from government departments and tSts. This funding allows Altrdm to deliver serviccs regionally to thc Irish-medium carly years care and education sector. Rationale behind the reserves policy Altram employs s¢ven stsff to d¢liver its programme of activity. Altrain rcquires a r¢serves policy to maintain a sufficient level of rescrv¢s to enable nonnal operating activities to continue over a period of up to thr¢e months should a shortfall in income occur and to take account of pot¢ntial risks and contingencies that may aris¢ from time to time. This might OCCUT du¢ to: a) The risk of an unfores¢¢n eincrgency or other unexpected need for funds, e.g. an unexpect¢d large bill b) Covering unforeseen day-to-day operational costs. e.g. employing temporary staff to cover a long tenn sick absence c) A source of income, e.g. a grant, Dot being renewcd. Funds might be need¢d to give the trustees time to take action if income falls below expectations d) Planned ¢on]mitments, or designations, that cannot be met by tUre income alon¢, e.g. plans for a major asset purchase or to a significant project that requires the charity to provide inatch fvnding e) The need to fund short-tenn deficits in a cash budgct, ¢.g. money may need to be spent before a funding grant is received. Excluded from the Rcserves Policy is: Restricted Funds
Altram Re ort of the Trustee5 for the Y ar Ended 31 March 2023 Therefore, in order to demonstrate transpar¢ncy, accountability and sound financial management Altram has Set out below the levels of reserve required. Level of reserve required by Altram.. salary costs x three months, and core Nnning costs x 3 months FUTURE PLANS Altram faces a challenging yeaT ahead but we plan to meet these challenges and Continue to provide our advice, support and guidance to the Irish-m¢dium early years care and cducation sector using a variety of platfonns and support the sector through this continued financially pressured period. Altrain is confident that present funders will continue to support the organisation. In the financial year 2023-2024, we will provide and extend the 11 range of suppo¢ training, resource, advocacy and representation servic¢s includin8= I. Deliver a comprehensive early y¢ars' support service to Irish-medium early years settings 11. Deliver recominendations from the State of the Sector rcport III. Support the r¢sponse to recomniendations arising from IM Preschool research (2016) IV. Dcliver a rcgional ¢vent to raise awareness about relcvant issues within the sector V, Devclop resources to support pra¢tition¢rs, children and parents in the Irish-medium early y¢ars sector VI. Develop a partnership to deliv¢r a scoping exercise on the needs of immersion cducation in Irelaiid and Scotland Vll. Develop accredited trdining to support practitioners delivering an early years Irish-mcdium iminersion cducation programme VIII. Deliver a practitioner training programme aim¢d at developing ¢xpertis¢ within the sector IX. Deliver management support clinics aim¢d at building the capacity of cominittees within thc Irish-medium early years sector X. Repicsent th¢ lrish-medium sector on relevant bodies STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controll¢d by its governing documenL a deed of tNst and constitutes an unincorporated charity.
Altram ort of the Trustees for the Year Ended 31 March 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The prtnciples of good governance are embedded within all aspects of Altram's opeTations with management and staff being keenly aware of the Board's Tesponsibility of ensuring that the organisation protects itself from financial exposure and reputational damage, A close working relationship is maintained betw¢¢n the Board and inanageinent to ensurc that operationally staff are aware of the standards required of them by the Board and the Board are always in a position to provide guidanc¢ and support to management in the discharge of their duties. This two way Tclationship is the key feature of Altram's governance aangements and is a key strength in the company. A conscicntious approach to ensuring that cOntracal project rcquircmcnts arc achievcd has been maintained at all times both in the accounting period being reported on and sinc¢ Altrani was established. Very tight financial coiitrols on expcndiNre and all fiiiancial coi]]niitments arc maiiitained at all tiines and project staff have been trained and have becorne experienced in budgetary controls.ln both these areas 1¢ project delivery and financial controls managcment all staff have established close working relationships with funding organisations to ensure all mandatory standards are consistently achi¢ved. Board representatives also actively engage with funding bodies. Th¢ Board, management and staff are fully aware that the nature of the work in which AIITam is iiivolved can bring with it a high Icvcl of scrutiny to ensur¢ that all activities arc fully compliant with funding requirements and,therefore, beyond repToach.The Board of Altram is, therefore, greatly reassured of the company's coinpliancc with thc highcst of standards of governance on the basis that all monitoring and evaluation of projwt deliv¢ry deinonstrates achievement of all fimd¢rs objcctives and that fundcrs, audits and vouching of financial expenditure and the independent examiners report confm compliance with botli probity and regularity in the use of moni¢s received. EVENTS SINCE THE EfiD OF THE YEAR Infonnation relating to events since the end of the year is given in the notes to the financial statements. Appi"oved by order of the board of trustees on 9 Nov¢mbeT 2023 and signed on its behalf by.. Aine Andrews (Chairpcrson) - Trustee
Inde endent Examiner's Re Altram I report on the accounts of the charity for the year ended 31 March 2023, which are set out on pages eight to twenty. ort to the Trustees of Respective responsibilities of eharity trustees and examiner As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ircland) 2008. It is my responsiblity to: examine the accounts under Section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for North¢m Ireland und¢r Section 65(9)(b) of the Charitics Act state whether particular matters have come to my attention. Basis of the independent examiner's report I hav¢ examined your charity accounts as requircd under Section 65 of thc Charities Act and my examination was CWTied out in accordance with the general Directions given by the Charity Commission for Northern treland under Section 65(9)(b) of the Charitics Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in thc accounts, and seeking cxplanations from you as charity trustees concerning any such mattcrs. My rolc is to state whether any material niattcrs have comc to my attention giving mc cause to believe". That accounting r¢coTds wcrc not kept in accordancc with Section 63 of the Charities Act That the accounts do not accord with those accounting records That the accounts do not coinply with thc accounting requireincnts of the Charitics Act That there is further infonnation needcd for a proper understanding of the accounts to be rehed. Independent examiner's statement Since your charity's gross incoinc cxceeded £250,000 your examiner must be a member of a listed body. I can confinn that I am qualified to undertake thc Cxamination becausc l am a rcgistcred nicmbcr of Institute of Chartered Accountants Ireland which is one of the listed bodies. I have compl¢t¢d my examination and have no concerns in i-¢spect of th¢ matters ( l ) to (4) listed abov¢ and, in connection with following thc Directions of th¢ Charity Commission for North¢m Ireland, I havc found no matters that requiTe drawing to your attention. Mr Bil Institute of C ered Accountants Ireland Lynn Drake & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moira Co. Arn]agh BT67 OLE 9 Novemb¢i 2023
Altram Statement of Financial Activities for the Year Ended 31 March 2023 31.3.23 Total nds 31.3.22 Total funds Unrestricted fund Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 7,532 7.532 4,397 Charitable activities Grants Receivable 307,577 307,577 233,442 Total 7,532 307,577 315,109 237,839 EXPENDITURE ON Charitable activities Direct Expenditure Gov¢mance 6,701 292,871 2,945 299,572 2,945 233,513 3,455 Total 6,701 295,816 302,517 236,968 NET IIYCOME 831 11,761 12,592 871 RECONCILIATION OF FUNDS Total fimds brought forward 51,865 55,162 107.027 106,156 TOTAL FUNDS CARRIED FORWARD 52,696 66,923 119,619 107.027 The notes forni part of these financial statements
Altram Statement of Financial Position 31 March 2023 31.3.23 31.3.22 Notes FIXED ASSETS Tangible assets 945 1,890 CURRENT ASSETS Debtors Cash at bank 21,862 99,584 20,854 87,055 121,446 107,909 CREDITORS Amounts falling due within one year {2,772) (2,772) NET CURRENT ASSETS 118,674 105,137 TOTAL ASSETS LESS CURREwr LIABILITIES 119,619 107,027 NET ASSETS l 19,619 107,027 FUNDS Unr¢stricted funds R¢stricted ThdS 10 52,696 66,923 51,865 55,162 TOTAL FUNDS 119.619 107,027 The financial stateinents weTe approved by the Board of Trustecs and authorised foT issue on 9 November 2023 and were signed on its b¢half by.. Ain¢ Andre s (Chairperson) - T e¢ Theresa Brady (Treasurer) - Trustee The notes fonn part of these fancial statements
Altram Notes to the Financial Statements for the Year Ended 31 March 2023 ACCOUNTING POLICIES Basis of preparing the financial statements (a) General information and basis of preparation The charity constitutes a public b¢nefit entlty as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statcment of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in 2019 the Financial Reporting Standard applicable in the United Kingdoiii and Republic of Ireland (FRS 102), the Cliarities Act (Northern Ireland) 2013, the Coinpanies Act 2006 and UK Generally Accepted Practice. The fmancial statcmfflits are prepared on a going concern basis under the historical cost convcntion, modified to include c¢rtain items at fair value. The financial statements are presented in sterling which Rs the functional currency of the charity.. The significant accounting policies applied in the pr¢pardtion of these financial statements are sct out below. These policies have becn Consistcntly applied to all years presentcd unless othcrwise statcd. (b) Funds Unrcstricted fwids are availablc for use at thc discretion of the tnlstees iii furtherance of the g¢iieral objectives of the charity and which have not b¢¢n designat¢d for oth¢r purposes. Restricted funds are funds which are to be used in accordance widi spccific restrictions imposed by donors or which have been raised by the charity for particular purpos¢s. Thc cost of raising and administering such funds are charg¢d against the spccific fund. The aim and usc of cach Tcstricted fid is set out in the notes to the financial statcments. Furth¢T explanation of the nalure and purpose of each fund is included in the notes to th¢ financial statements. {c) Income recognition All incoming r¢50urces are included in the Statement of Financial Activities (SOFA) when tlie charity is legally entitled to th¢ incomc after any perfomiance conditions hav¢ been m¢L the amount can be measured reliably and it is probable that the income will be received. For donations to b¢ r¢cognis¢d the charity will have been notified of the amounts and the settlement date in writing. If therc are conditions attached to the donation and this requir¢s a level of p¢rforniance befor¢ entitlement can b¢ obtained then income is deferred until those conditions ar¢ fully met or th¢ fulfilment of those conditions is within the control of the cliarity and it is probable that th¢y will be fulfillcd.Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities (SOFA) when receivable. Income received from collections is r¢cognised when received. Donated facilities and donated professional services are recognised in incoine at their fair value whcn their economic b¢nefit is probable, it can be m¢asured r¢liably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and serviccs. A corresponding amount is recognised in expcnditure. io continued..
Altram Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ACCOUNTllYG POLICIES - continued Basis of preparing the financial statements No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given ITh the Trustees, Annual Report. For legaci¢s, entitlem¢nt is the earlier of the charity being notified of an impending distribution or tbe legacy being received. At this point incoine is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contiiigent asset and disclosed. Income from trading activities includes income earned from fidraISing evcnts and trading activities to raise funds for th¢ charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when ¢ntitlement has occurred. The charity receiv¢s government grants which are detailed witbin th¢ notes to these financial statements. Income from governincnt and other grants arc recogniscd at fair value whcn the charity has cntitlement after any perfomiance conditions have been m¢t, it is probablc that the income will be received and the amount can be ineasured reliably. If entitlement is not met then these ainounts are deferred. (D) Expenditure recognition All ¢xpenditUTe is accounted for oil an accruals basis, inclusive of VAT which caniiot bc recovcred and has been classified under headings that aggregate all costs related to the category. Exp¢ndilure is T¢cogniscd whcre there is a Icgal or constructivc obligation to makc payincnts to third partics, it is probablc that thc scttlemcnt will be requircd and the amount of the obligation can be m¢asured reliably. It is categories under the following headings.. Costs of raising funds includes th¢ costs associated with attracting voluntary incomes. Expenditure on charitable activitics includes those cosls incUed by thc charity in the delivcry of its activities and servic¢s for its beneficiaries. It includes both costs that can bc allocated directly to such activitics and tliose costs of an indirect nature nccessary to support them. and Other expenditure represents those items not falling into th¢ categori¢s above. Tecov¢rable VAT is charged as an expense against the activity for which ¢xpenditur¢ arosc. Grants payable to third parties ar¢ within the charitable objectives. Where unconditional grants are off¢r¢d. this is accrued as soon as the r¢cipient 15 notified of the grant, as this giv¢s rise to a T¢asonable expectation that the recipient will receive the grants. Where grants are conditioiial Telating to perfonnance then the grant is only accrued when any unfulfill¢d conditions are outside of thc control of the charity. (e) Support costs allocation continued...
Altram Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ACCOUNTING POLICIES - continued Basis of preparing the financial statements Support costs are those that assist the work of tlie charity but do not directly represent charitable activities ]d lliclude office costs, goveniance costs, adininistrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project rnanag¢ment aTried out at headquarters. Where support costs cannot be dircctly attributed to particulaT hcadings they have been allocated to cost of ratsing funds and expenditure on charitable activities on a basis consistent with use of the resources. Prfflnises ovcrheads havc been allocated on an insert dctail basis and other overheads have been allocated on a basis consistenl with the use of resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseniinating inforniation in support of tlie charitable activities. (D Tangible fixed assets Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impaim]ent losscs. Cost includes costs dircctly attributable to niaking thc asset capabl¢ of opcrating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual valuc, of each asset on a systematic basis ov¢r its expccted uscful life as follows.. Fixtur¢s & Fittings Mobile Van 25 % Straight Lin¢ 250/0 Straight Lin¢ (g) Financial Instruments A financial assct or a financial liability is rccogniscd only whcn thc charity bccomes a party to thc contractual provision of the instrument. Basic financial instruments 'e initially recognised at th¢ amounts receivable or payable including any T¢lated transaction costs. Current assets and current liabilities arc subsequcntly mcasured at tlie cash or other consideration ¢xpected to be paid or relived and not discounted. Debt instrum¢nts arc subsequently measured at amortised cost. Wh¢r¢ invcstments in sharcs are publicly traded or their fair value can othenvise be measured reliably. the investment is subsequently measured at fair value with changes in fair valu¢ Tecognised in incoin¢ and cxpenditure. All other such investments ar¢ subsequently measured at cost less impaimicnt. Other financial instruments, including d¢rivativcs, aTe initially rccognised at fair value, unless payinent for an asset is deferred beyond nornial business t¢rms or financed at a rate of interest tliat is not a nTrrk¢t rate, in which c&se the asset is measured at the pT¢sent value of th¢ future payments discounted at a market rate of interest for a similar debt instnunent. Oth¢r financial instruments are subsequently measured at fair value with any changes r¢cognised in the statement of financial activities, with the exception of hedging instruments in a designed hedging relationship. 12 continued...
Altram Notes to the Financial Statements - continued for the Year Ended 31 March 202 ACCOUNTING POLICIES - continued Basis of preparing the financial statements Financial assets that are measuTed at cost or amortised cost are reviewed for objective evidence of iinpainnent at the fflid of each reporting date. if th¢Te is objective evidence of impainnent an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain is recognised. For all equity instruments regardlcss of significance, and othcr financial assets that are individually significant, these are assesscd individually for impairn]ent. Other financial assets are either assessed individually or grouped on the basis of similar credit risk charactcristics. Any reversals of impairn]ent are recognised immediately) to the ¢xtent that the reversal do¢s not result in a carryiiig ainount of the fmancial assct that excceds what the carying amount would have been had the impainncnt not previously be¢n recognised. (h) Impairment Assets not measured at fair value are revicwcd for any indication that the assct may bc itnpaired at each balanc¢ sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to thc carrying amount. Wh¢r¢ the carrying amount exceeds its recoverable amount, an impairnicnt loss is r¢cognis¢d in profit OT loss unless the asset is carried at a revalued ainount where th¢ iinpairment loss is a revaluation decreasc. (i) Provisions Provisions aTe recognised when the charity has an obligation at the balance shcct datc as a rcsult of a past cvcnt, i( is probable that an outflow of economic benefits will bc rcquircd in scttlcment and th¢ amount can be r¢liably estirnated. (i) Leases Assets acquired under finance leascs are capitalised and d¢preciat¢d over the shorter of th¢ leas¢ tern] and the expectcd useful life of the asset. Minimum Icase payments are apportioncd betw¢¢n th¢ finance charge and the reduction of the outstanding lease liability using the effective interest method. The relat¢d obligations, net of future finance charges, are included in crcditors. Rentals payable and receivabl¢ under operating leases are charged to the SOFA on a straight line basis over the period of the lease. (k) Tax No provision is required for taxation as the company is defincd as a charity for taxation purposcs. The charity is a r¢gisteTed charity and as such is entitled to certain tax ex¢mptions on income and profits from investinents and surpluses on any trading activities Caled on in furtherance of the charity's primary objectiv¢s. if these profits and suo)luses are applied solely for charitable purposes. (J) Judgements estimates 13 continued...
Altram Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ACCOUNTING POLICIES - continued Basis of preparing the financial statements The following judgements including those involving estimates that have been made in the process of applyiiig the above accounting policics that have had the most significant effect on the amounts Tccognised in the financial statements and that have a significant risk of causing a material adjustment to the canying amounts of assets and liabilitics within the next financial ycar: (i) depreciation method and asset use1 lives The estimates and assumptions are reviewed on an ongoing basis considering the current and futUTe market conditions. Taxation Altram is a registered charity and such is entitled to certain tax exemptions on income and profits from investments and surpluscs on any trading activities Caled oil iii furtlicraiice of thc charity's primary objectives, if these profits and suryluses are applied solely for charitable purpos¢s. Fund accounting The company lias various types of funds for which it is responsible and which require separate disclosure. A definition of the various types of fiu]ds is as follows.. (i) Restricted funds Funds received which ar¢ earmarked by the donor for specific purposes. Su¢h purpos¢s are within thc overall aiins of the company. (li) Unrestricted funds Funds which arc cxpcndable at the discretion of the directors which have becn designatcd for sp¢ciftc PUTposes in furtherance of the objects of the charity Pension costs and other post-retircment benefits Th¢ charity operates a d¢fined contributioii peiision schcni¢. Contributions payable to thc charity's pension scheme are chaTged to the Statement of Financial Aclivities in the period to which they rclate. DONATIONS AND LEGACIES 31.3.23 31.3.22 Donations and generat¢d incoiiie Conway Mill Trust 2.331 5.201 2,415 1,982 7,532 4,397 14 ontinu¢d...
Altram Notes to the Financial Statements - continued for the Year Ended l March 2023 INCOME FROM CHARITABLE ACTIVITIES 31.3.23 31.3.22 Activity Grants Receivable Grants 307,577 233,442 Grants received, included in the above, are as follows: 31.3.23 31.3.22 CnaG - Department of Education Community Foundation for Northern Ireland Department of Health - Belfast & South East¢rn Trust Department of Health - Programmc Support Sp¢cialist Departmcnt of Health - Projects Depanent of Education - IME 175,130 150.000 1,330 37,972 44,140 41,311 46,136 5,000 40,000 307,577 233,442 TRUSTEES, REMUNERATION AND BENEFITS Ther¢ were no trustees, r¢muneration or other benefits for the year ended 31 March 2023 nor for th¢ year ended 31 March 2022. Trustees, expenses There were no trustccs, ¢xpenscs paid for tl)e year ¢nded 31 Marcli 2023 nor for tlie year ended 31 March 2022. STAFF COSTS 31.3.23 31.3.22 Wages and salaries Social sccurity costs Other pension costs 194.419 14,292 2,883 170,840 11,021 3,110 211.594 184,971 The averag¢ monthly number of ¢mploye¢s during the year was as follows: 31.3.23 31.3.22 Management & Administration No employees received emoluments in excess of £60,000. 15 continued...
Altram Notes to the Financial Statements - continued for the Year Ended 31 March 2023 TANGIBLE FIXED ASSETS Fixtures Mobile Van fittings Totals COST At l April 2022 Disposals 57,266 14,779 (14,779) 72,045 (14,779) At 31 March 2023 57,266 57,266 DEPRECIATION At l April 2022 Charge for ycar Eliminated on disposal 55,376 945 14,779 70,155 945 (14,779) (14,779) At 31 March 2023 56,321 56,321 NET BOOK VALUE At 31 March 2023 945 945 At 31 March 2022 1,890 1,890 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.23 31.3.22 Belfast & South Eastern Childcare Partnerships Health and Social Car¢ Board Sundry Debtors 10,328 11,534 9,493 11,035 326 21,862 20,854 16 continued...
Altram Notes to the Financial Statements - continued for the Year Ended 31 March 2023 CREDITORS: AMOUNTS FALLING DUE WITHtN ONE YEAR 31.3.23 31.3.22 Other creditors 2,772 2,772 ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.3.23 Total funds 31.3.22 Total fvnds Unrestricted Restricted nd fimds Fixed assets Current assets Currcnt liabilitics 945 68,750 {2,772) 945 121,446 (2,772) 1,890 107,909 (2,772) 52,696 52,696 66,923 119,619 107,027 10. MOVEMENT IN FUNDS Net movement in funds At 3113123 At l14122 Unrestricted funds General fvnd 51,865 831 52,696 Restricted funds Foras Na Gacligc Ultach Trust Western Childcarc Partnership (Capital) CnaG - Departineiit of Education SECP - Two Windows Bord na Gaidhlig Department of Health - Belfast & South Eastern Trust D¢partmcnt of Health - Programme Support Specialist Department of Health - Projects 3,000 13,459 3,000 13,459 1,329 1,679 1,514 3,104 (664) (51) 665 1,628 1,514 3,104 16,756 4,646 21,402 14,321 7,684 146 22,005 146 55,162 11,761 66,923 TOTAL FUNDS 107,027 12,592 119,619 continued...
Altram Notes to the Financial Statements - continued for the Year Ended 31 March 2023 10. MOVEMENT IN FUNDS - continued Net movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds GeneTal fund 7,532 (6,701) 831 Restricted funds Wcstern Childcarc Partnership (Capital) CnaG - Departtiicnt of Educatioii Department of Health - Belfast South Eastern Trust D¢partmcnt of Health - Programme Support Specialist D¢partm¢nt of H¢alth- Projects Dcpartment of Education - IME (664) (175,181) (664) (51) 175,130 41,311 (36,665) 4,646 46.136 5.000 40.000 (38,452) (4,854) (40,000) 7,684 146 307,577 (295,816) 11,761 TOTAL FUNDS 3I5,109 (302,517) 12,592 18 continued...
Altram Notes to the Finaneial Statements - continued for the Year Ended 31 March 2023 10. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Al 3113122 At 114121 Unrestricted funds Gcn¢ral fund 52,190 (325) 51,865 Restricted funds Foras Na Gaelige Ultach Trust Western Childcare Partnership (Capital) CnaG - Department of Education SECP- Two Windows Bord na Gaidhlig Department of Health - Belfast & South Eastern Trust Department of Health - Programme Support Specialist 3,000 13,459 3,000 13,459 1,993 1,729 1,514 3,104 (664) (50) 1,329 1,679 1,514 3,104 14,615 2,141 16,756 14,552 (231) 14,321 53,966 1,196 55,162 TOTAL FUNDS 106,156 871 107,027 Coniparativ¢ nct nioveinent in fvnds, includcd in thc above arc as follows.. Incoming resources Resources expended Movcment in funds Unrestricted funds General fund 4,397 (4,722) (325) Restricted funds Western Childcare Partnership (Capital) CnaG - Department of Educatioi) Department of Health - Belfast & South Eastern Trust Department of Health- Programme Support Specialist Community Foundation for Northern Ircland (664) (150,050) (664) (50) 150,000 37,972 (35,831) 2,141 44,140 (44,371) (231) 1,330 (1,330) 233,442 (232,246) 1,196 TOTAL FUNDS 237,839 (236.968) 871 19 continued..
Altram Notes to the Financial Statements - continued for the Year Ended 31 March 2023 11. CONTINGENT LIABILITIES A contingent liability exists to repay grants received should certain conditions not bc fulfilled by the charity. 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2023. 13. POST BALANCE SHEET EVEwrs There were no events aftcr the rcporting pcriod therefore no material issues nccd disclosed. 14. COVID-19 The trustees continue to monitor thc impact of Covid 19. The tn]stees believe there is no adjusting events to report after the reporting date. The trustees will continue to monitor the situation closely to securc the viability of the organisation. 20
Altram Detailed Statement of Financial Activities for the Year Ended 31 March 202 31.3.23 31.3.22 INCOME AND ENDOWMENTS Donations and legacies Donations and generated income Conway Mill Trust 2,331 5,201 2,455 1,982 7,532 4,397 Charitable activities Grants 307,577 233,442 Total incoming resources 315,109 237,839 EXPENDITURE Charitable activities Salari¢5 Social security Pensions Insur]Ce Light and heat Telephone & IT Printing and Stationery Advertising and Publications Sundries Direct Project Costs Travel and Transport ResouTces and Materials Staff Trdining Rent Conferences and Workshops Depreciation 194,419 14,292 2.883 2,687 1,055 3,460 7,753 170,840 11,021 3,110 2,134 782 4,988 3,598 6,000 1,975 1,330 6,710 1,685 1,637 10,578 6,180 945 1,584 34,021 10,188 5,572 2,223 10,447 8,043 945 299,572 233,513 Support costs Governance costs Accountancy Fees Bank chaTges 2,772 173 3,150 305 2.945 3,455 Total resources expended 302,517 236,968 Net income 12,592 871 Tliis page does not fonn part of the statutory financial statements 21