REGISTERED CHARITY NUMBER: IYIC103690 ort of the Truste Unaudited Financial Statements for the Year End l March 2024 or Altram Lynn Dralce & Co Ltd Chartered Accountants I st Floor 34 B-D Main Strect Molla Co. Annagh BT67 OLE
Altr Notes t t Inancial Statemellts forth Y rEn l Marc ACCOUNTING POLICIES Basls of preparing the financial statements (a) General Information and basis of preparatlon The Ch'Ity constitutes a piiblic benefit entity as defined by FRS 102, The fmanoial stateiiients have been prepared in accordance with Accounting and Reporting by Charities: Statement of Reconmiended 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 Kingdom 2nd Republic of Ireland (FRS 102), th¢ Cliarities Act (Northern Ireland) 2013, the Companies Act 2006 and UK Generdlly Accepted Practice. The fiiiancial stateinents are prepared on a going concern basis under the Iiistorical cost convention, Inodified to include certain items at fail. value. The financial statements al'e presented in sterliiig whidi is the hnctioil CU¢ll¢Y of the ch'ItY.. The significant accounting policies applied in thc preparation of these financial statements are sct out bclow. These policies have been consistently applied to all years presented unless otherwise stat. (b) Funds Unrestricted funds available for use at the discretion of the tThte¢S in filltheTance of the general objectives of the charity and which have not been d¢sign8ted for other pUoses. RestriLted fdS are funds wlucli arc to be iised in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular puiposes. The cost of raising and administering such funds are cbarged against the specific fund. The aim and se of each restrict fund is set out in the notes to th¢ financial statem¢nts. Further explanation of the naMTC and purpose of ea¢h fund is included in the notes to the financial statements. (c) Income recognithon All ii)¢oming resolwces are included in tlie Stateinent of Financial Activities (SOFA) wlien the charity is legally entitled to the income after aiiy pcrforn)ance conditions have been mel the amount can b¢ measured rLliably and it is piobabl¢ tliat the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of perfomiance before entitlement can be obtaind then income is deferred until thos¢ conditions are fully inet or tlie fulfilii)ent of those c4)nditioiis is within the control of the cliarity and it is probable that they will bc fulfilled.Voluntary income is received by way of grants, donations and gifts and is iiicliided in fiill in the Statement of Finaiicial Activities (SOFA) when receivable. Income received from collections is recognised when received. Donated facilitics and donated professional services are r¢cognised in income at their fair value when their economic bcnefit is probable, it can be mcasured reliably and thc charity has control over thc item. Fair value is det¢rmiAicd on the basi8 of the value of the gift to th¢ clwity. For example th¢ amount the charity would be willing to pay in the open nwket for su¢h facilitics and services. A corresponding amount is r¢cognised in expenditure. continued...
Altram fort l March 2024 ACCOIJNTING POLICIES- eontinued Basts of preparlng the tlnancÉal statements No amoullt is iiicluded in ihe finaiicial statements for volunteer time in line with th¢ SORP (FRS 102). Further detail is given in the Truste¢s' Annual Report. For legacies, entitlement is th¢ eaili¢r of the clwity being notified of an imp¢nding distribution or the legacy being rec¢iv¢d. At this point incoine is recognised. On occasion legacies will be notified to the charity however it is not possible to ineasiwe th¢ amount expected to be distributed. On these occasioiLS, the lega¢y is treated as & contingent asset and disclosed. Income fi'oiii trading activities includ¢s inconie eThe& from fimdraising events and trading activities to i'aise ftu]ds for the charity, Income is reccived in exchange for supplying goods and services in order to raise funds and is recognised when eiititlement has occurrcd, The ohlty receives government grants which are dctaiLed within the notes to these financial statthnents. Incoine fi'oin goveriiin¢nt and other grants are recognised at fair valu¢ wlien tlie chkllity has entitlement aftcr any perforn]ance condition8 have been met, it is probable that the income will be received and tlie lloUnt c1 be ineasiwed reliably. If entillem¢nt is not inet then thcsc amouiits are d¢f¢rred. (D) Expenditure rtcognition All expellditte is accounted for oil an accrnals basis, inclusive of VAT which cannot b¢ recovered and ha8 been classified under headings that aggregate all costs related to the category. Expenditure is recognised where thcrc is a legal or constlwctive obligatioii to make payments to third parties, it is piobable that the settlement will be required and th¢ mloullt of the obligation Ca be measured TeEiably. It is categoi'ies under the following lieadings: Costs of raising funds includes the costs associated with attracting voluntary incmnes. Expenditur¢ oil charitable activiti¢s includes those costs incuiTed by tlie charity in the d¢livery of it8 activiti¢s and seIc¢S foi. its beneficiaries. It includes both costs that can be allocat¢d directly to such activities and those costs of an indirect nature necessary to support them. alld Othei expenditur¢ represents those items not tallillg into the categoi'ies above. Irrecovcrable VAT is chargcd as an ¢xpense against th¢ a¢tivAty for which expenditure arose. Grants payable to thii'd partics are withill the charitable objectivos. Where uncoiiditional grants are offcrd. thi8 is accrned as soon as the recipieiit is notified of the grant, as this gives rise to a reasonable ¢xpe¢tatioii that the i'ecipient will receive the giznts. Where grants are conditioijal relating lo perfonnance then the grant is only accrued when any unfulfilled conditions al'e outside of the control of the oli&rity. (e) Support costs allocatfion 12 continued...
Altram Notes to the Financial Statements - cont for the Yea IM h2024 ACCOIINfiNG POLICIES - continued Basis of preparing the financlal statements Siipport costs are those tliat assist die wol'l< of tlie charity but do not directly represent charitable activities and iiicludc otTic¢ costs, goveniance costs, athninistrative payroll costs. They are iiicurred threctly iii support of expenditure on the objects of the charity and include project management caLYied out at headquartas. Where support costs ctlnnot be directly attributed to ptiCUlar headings tliey have been allocated to cost of raising fLwds and expenditLU'e on charitable activities on a basi6 consistent widi use of tlie resourcc8. Prejnises overheads have been allocated on an insert detail basis and other overheads have been allocated on a basis consistent with the use of resources, Fund-raising costs are those incurred in seeking voluntary contributions and do not include tbe costs of disseminating information iii support of the charitable activities. (D Tangible fixed assets Tangible fixcd assets are stated at cost less accumulated depr¢ciation and acllnU1&tcd impaim]ent losses. Cost includes costs directly attributable to making the asset capable of opeJating a8 intended. Depreciatioii is pi'ovidcd on all tangible fixed assets, at rates calculated to write off tlie ¢os¢ less estimated residual value, of each ass¢t on a systematic basis over its expected useful life as follows: Fixtures & Fittings 250/, Straight Line (g) Finalicial Instruments A fin1claI asset or a financial liability is recOliS¢d oidy when Ihe chai'ity becomes a party to the contractual provision of the instrument. Basic filluncial instLuJnents are initially recognised at the amounts ieceivable or payable including any i'elated transaction costs. iiyent assets and CWT¢nt liabilities are subsequently itleasurcd at the casli oi othei ConsidetiOn expected to be paid or relived and llot discounted. Debt iiistruments are subsequently ineasur¢d at amortised cost. Where investments in sbares are piibliLly iTaded or their fair value can oth¢rwise be m¢asured reliably, tlie investinent is subsequeiitly mcasuiEd at fair value with dwiges in fair value recognised in illwme and expenditurc. All other siich investments are siibsequently tncasured at cost less impaimiellt. Othei. financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond nonnal business tern]s or financed at & rate of int¢rcst that is not a jnarket rate, in which case the asset is measured at the present value of the futUTe payments discounted at a marlcet rate of interest for a sin]ilar d¢bt illstrument. Oth¢r financial instruinents are siibsequently measured at fair value with any Changes rccogiiised lll the statement of finaiicial activities, witli the exception of hedging instrllinents in a designed hedging relatiOll81iip. 13 coiitinued...
Altram to the Financial Statements - contiiiued lor the Year Ended 31 Marcli 2024 ACCOUNTING POLICIEI S - contliiued Basis of preparing the financial statements Finaiicial assets that are iiieasiired at cost oi, amoitised cost are reviewed for objective evideiice of iinpairn]eiit at the end of each reporting date, if there is objecttve evidence of ii)IpairJneiit an iinpairnient loss is recognised under th¢ appiopiiate heading in the stateinent of tinancial activities in which the initial gain is recognised. For all equity instruineiits regic rdlcss of signific¢mce, aiid other finallcial assets that are individually significant, these are assessed individiially foi. impainnent. Other financial assets are either assessed ikidividually or giouped on tlie basis of siinilar credit risk Ch'act¢ll8tics. Any r¢versals of impairn)¢nt are recognised immedTat¢ly, to tlie extent that the reveisal does not result in a carrying amount of the finaiicial asset that exceeds what the carying amount would hav¢ been had the impairment not previously been recognised. (h) Impaiyment Assets not measurcd at fair value are revicwcd for any indication that the asset may be iMpred at each balance sheet date. If sucli indication exist5, the recoveTable avnouiit of the asset, or the ass¢t's cash generating uiiit, is estimated and compared to the Garying amoullt. Where th¢ c8Jryillg amount exceeds its i-ecoverabl¢ amount, an impairment loss is recognised in profit oi- loss unless the asset is carried at a revalued amount whelr the unpainnent loss is a revaluation dccrease, (i) Provisions Provisiolls are recognised wlien the charity has an obligation ut the balance she¢t date as a result of a past event, it is probablc that Outflow of economic benefits will be required in scttlement and the amouiit can be reliably estiiiiated. O) Leases Assets acquij'cd under finance leases are capitalised and depreciatsd over the shorter of the lease terni and the expected useful life of the l¢sset. Minimum lease payments ar¢ apportioned between the financ¢ charge and the rediwtion ot" Ihe outstanding leAse liability Uslllg the effectivc interest method. The related obligations, net of fulure fiiiance Clug¢S, are included in creditors. Rentals payable ]d i'eceivable under operating leases are charged to the SOFA on a straight line basis over th¢ period of the lease. (k) Tax No Provision is required for laxation as the coinptmy is delined as a cliarity for tatiO11 pui'poses. The charity is a registered cliarity and as such is entitled to certain t&x exeinptions on income and profits from investtnents and surpluses oli aiiy tradiiig activities carried on in furtheranc¢ of the charity's primary objectives, if these profits and surplus¢s are applied solely for charitable purp08es. (J) Judgejnents estin]Vétes 14 contiiiued..-
Altram Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ACCOUNTllYG POLICIES - continued Basls of preparing the financial statements Tlie followiiig judgemeiits including those involving estimates tliat liave been made in tlie process of applyiiig the above accounting policies that have had the most significant effect on the Éunouiits recognised in the financial stateiiients and that have a significant risk of causing a matei-ial adjustinent to the carrying amounts of gfjsets and liabiliti¢s within the next financial Y.: (i) depreciation mediod a]Id asset use] lives Tlje estiinates and asslunptions are reviewed on ali ongoing basis Considering the CTellt and future market ¢ornditions. Taxation Altram is a registered cliarity and such is entitled to certain tax exen]ptions on income and profjts from investments and surpluses on any tradiiig activities carried oi) ill furtherance of the charity's primary objectives, if these profits and suryluses are applied solely for charitabl¢ purposes. r4 und accountillg The coinpany lias various types of funds for which it is responsible and which r¢quiTe separate disclosure. A definition of thc various types of thnds is as follows.. (i} Restricted lldS Funds received which are earmarked by the donor for specific purposes. Such pl708c8 are within the overall ailns of the company. (li) Ullrestricted fuiids Funds which ELre expeiidable at the discretion of the directors which have been designated for specific plpoSeS in fuitherance of the objects of the charity Penslon costs and other post-retirement benefits The charity operates a defined contribution pensioii scheme. Contributions payable to the charity's pei]sion scheme are charg¢d to the Statement of Financial Activities in die period to which tliey r¢Late. DONATIONS AND LEGACIES 3E.3,24 31.3,23 Donations ld generated iiicome Conway Mill Trust 2,664 1,417 2,331 5,201 4,081 7,532 15 contiiiued..
Altram Note to the FAnancial Statements - Colltlnue for the Year Ended 31 March 2024 INCONIE FROM CHARITABLE ACTIVIYIES 31.3,24 31.3.23 Activity Grants Receivable Grants 304,643 307,577 ar[tS received, included in the above, are as follows,. 31.3,24 31,3,23 CnaG . Depq¢ rtment of Education Deparlinent of Healtli - Belfast & Soiith Eastern Trust Dep.tn]ent of Health - Programine Support Sp¢cialist DeparlLnent of Healtli - Project5 Department of Ediication - IME 158,000 40,676 45,467 2,500 58,000 175,130 41,311 46,136 5,000 40,000 304,643 307,577 TRUSTEI ES, REMUNERATION AND BENEFITS Tliere were no trnstees, remuneration or other benefits for the year ended 31 mch 2024 nor for the y¢ur ¢nd¢d 31 Marcli 2023. Trustees, expenses There weie no trustees, expenses paid for the year ended 31 March 2024 nor foi. the year ¢nded 31 March 2023. STAFF COSTS 31.3.24 31.3.23 Wages and salaries Social sewrity Gosts Othci- peiision costs 230,156 l6,797 3,757 194,419 14,292 2,883 250,710 211,594 The average monthly nuniber of employees during the year was as follows.. 31.3.24 31.3.23 Management & Adininistration No employees received emoluments in excess of £60,000. 16 contiiiued...
Notes to the Finaneial Statements - continued for the Yef4r Ended 31 Marc 24 TANGIBLE FIXED ASSETS Fixtures fittings COST At l April 2023 and 31 March 2024 57,266 DEPREI CIATION At l April 2023 Charge foi year 56,321 945 At 31 fvIar¢h 2024 57,266 NET BOOK VALUE At 31 Marcli 2024 At 31 Maroh 2023 945 DEBTORS: AMOUNTS FALLING DUE wrrIiIN ONE YEAR 31.3.24 31.3.23 Belta5t & South Eastem Childcarc Parther8hips Hclllth Ld Social Care Board 10,143 11,393 10,328 11,534 21,536 21,862 CRkDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Other creditOf8 4,881 2,772 ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.3.24 Total funds 31.3.23 Total fid8 Unrestricted Restricted fund nds Fixed assets Current assets cuellt liabilities 945 121,446 (2,772) 56,777 64,653 {4,881) 121,430 (4,881) 56,777 59,772 116,549 119,619 17 contiiiued...
Altram
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
10. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1/4/23 | in funds | 31/3/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 52,696 | 4,081 | 56,777 |
| Restricted funds | |||
| Foras Na Gaelige | 3,000 | 3,000 | |
| Ultach Trust Western Childcare Partnership |
13,459 | (9,032) | 4,427 |
| (Capital) | 665 | (665) | |
| CnaG - Department of Education | 1,628 | 4,843 | 6,471 |
| SECP - Two Windows Bord na Gitidhlig Department of Health - Belfast & South Eastern Trust |
1,514 3,104 21,402 |
(1,514) (681) |
3,104 20,721 |
| Department of Health - Programme | |||
| Support Specialist | 22,005 | (102) | 21,903 |
| Department of Health - Projects | 146 | 146 | |
| 66,923 | (7,151) | 59,772 | |
| TOTAL FUNDS | 119,619 | (3,070) | 116,549 |
Net movement in funds, included in the above are as follows:
| Net movement in funds, included in the above ar | e as follows: | ||
|---|---|---|---|
| Incoming resow·ces |
Resources expended |
Movement in funds |
|
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 4,081 | 4,081 | |
| Restricted funds | |||
| Ultach Trust Western Childcare Partnership |
(9,032) | (9,032) | |
| (Capital) | (665) | (665) | |
| CnaG - Department of Education | 158,000 | (153,157) | 4,843 |
| SECP - Two Windows Department of Health - Belfast & South Eastern Trust Department of Health - Programme |
40,676 | (1,514) (41,357) |
(1,514) (681) |
| Support Specialist | 45,467 | (45,569) | (102) |
| Department of Health - Projects | 2,500 | (2,500) | |
| Department of Education - IME | 58,000 | (58,000) | |
| 304,643 | (311,794) | (7,151) | |
| TOTAL FUNDS | 308,724 | (311,794) | (3,070) |
continued, ..
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Notes to tbe Financial Statements - coiitinued for the Year Ended 31 Mareh 2024 10. MOVE11T IN FUNDS - continued Comparatlves for movement funds Net illovem¢nt in fiinds At 3113123 At 114122 Unrestrieted funds Geii¢ral fund 51,865 831 52,696 Restricted funds Foras Na Gaelige Ultach TILlSt Westem Cliildcare Partnership (Capital) CnaG - Departnent of Education SECP - Two Windows Bord na Gaidhlig Department of Health - Belfast & South Eastern TNst Departjnent of Health - Programme Suppoit Specialist Departtnent 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 19 coiitinued...
Altra Notes to t fort eFln ncAaI Statement l Trlarch 202 iitin 10. MOVEIIqE4 NT IN FUNDS - continued Comparative net movement in fimds, included in the above are as follows., Incomii resources ResoiiTces expended Movement in funds Unrestrlcted funds General fund 7,532 (6,701) 831 Re5trleted funds Western Childcare Partnership (Capitsl) CnaG - Deptwtsnent of Educatioii Department of Health - Belfast & Soiith E&stern Tiust Department of Health - Programme Support Specialist Department of Health - Projects Department 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 315,109 (302,517) 12,592 I I. CONTIIYGEIYT LIABILITIES A contingent liability exists to repay grdnts received should Lertain conditions not be fulfilled by the charity. 12. RELATED PARTY DISCLOSURES There were no related paTty transactions for the year ended 31 March 2024. 13. POSI. BALANCE SHEET EVENTS There were iio events after the reporting p¢riod therefore no material issues need disclosed. 20
Altram
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
| Detailed Statement of Financial Activities for the Year Ended 31 March 2024 |
||
|---|---|---|
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies Donations and generated income |
2,664 | 2,331 |
| Conway Mill Trust | 1,417 | 5,201 |
| 4,081 | 7,532 | |
| Charitable activities | ||
| Grants | 304,643 | 307,577 |
| Total incoming resources | 308,724 | 315,109 |
| EXPENDITURE | ||
| Charitable activities | ||
| Salaries | 230,156 | 194,419 |
| Social security | 16,797 | 14,292 |
| Pensions | 3,757 | 2,883 |
| Insurance | 1,764 | 2,687 |
| Light and heat | 1,526 | 1,055 |
| Telephone & IT | 4,874 | 3,460 |
| Printing and Stationery | 344 | 7,753 |
| Sundries | 1,452 | 1,584 |
| Direct Project Costs | 18,876 | 34,021 |
| Travel and Transpmt | 7,232 | 10,188 |
| Resources and Materials | 2,138 | 5,572 |
| Staff Training | 1,307 | 2,223 |
| Rent Conferences and Workshops |
16,372 970 |
10,447 8,043 |
| Resource Development | 53 | |
| Depreciation | 945 | 945 |
| 308,563 | 299,572 | |
| Support costs | ||
| Governance costs | ||
| Acconntancy Fees | 2,988 | 2,772 |
| Bank charges | 243 | 173 |
| 3,231 | 2,945 | |
| Total resources expended | 311,794 | 302,517 |
| Net (expenditure)/income | (3,070) | 12,592 |
This page does not form part of the statutmy financial statements
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