COMPANY REGISTRATION NUMBER: N1057099 CHARITY REGISTRATION NUMBER,. 103776 L.A.S.T Sure Start Company Limited by Guarantee Financial Statements 31 March 2023 SP MCCAFFREY & CO Chartered accountants & statutory auditor 50 Campsie Road Omagh Co Tyrone BT79 OAG
L.A.S.T Sure Start Company Limited by Guarantee Financial Statements Year ended 31 March 2023 Page Trustees, annual report (incorporating the director's report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows 10 11 12 Notes to the financial statements 13 The following pages do not form part of the financial statements Detailed statement of financial activities 22 Notes to the detailed statement of financial activities 23
L.A.S.T Sure Start Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2023 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2023. Reference and admlnlstratlve details Registered charlty name L.A.S.T Sure Start Charlty régistration number 103776 Company registration number N1057099 Prlnclpal offlce and registered Units 1 &2 offlce Stralhroy Enterprise centre Meelmore Drive Omagh Co Tyrone BT79 7XL The trustees Mr M Mccolgan Ms S McDermott Ms C Doncaster Ms P Colgan Ms P Cleary Mrs N Carson {Resigned 29 March 2023) (Appointed 29 March 2023) Auditor SP Mccaffrey & Co Chartered accountants & statutory auditor 50 Campsie Road Omagh Co Tyrone BT79 OAG Structure? governance and management Governlng document L.A.S.T Sure Start is a company limited by guarantee (Reglstration Number N1057099>. The company is govemed by its Memorandum of Articles of Association. The company is recognised as a charity and is registered with the Charities Commission for Northern ireland. (Charity No 103776)
L.A.S.T Sure Start Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {contlnu¢d) Year ended 31 March 2023 Structure? governance and management (contlnu¢d) Governance L.A.S.T Sure Start has a responsibility to conduct its business efficiently. The establishment of. and the strict adherence to sound financial management policies is an integral part of the organisation. The Board of directors and Management Committee of are committed to establishing, maintaining and applying all nec8ssary good practice to ensure that their duty of Ca to the management of fInanS of the organisation are fulfilled. The Board of directors are responsible for taking the strategic decisions of how the Charity will move forward and who also are responsible for appointments to the board. It is essential that L.A.S.T Sure Start control all operational risks as far as is possible. This includes the participation of all those involved directly or indirectly with the banking arrangements for the organisation. Along with the financial systems of the organisation, this policy aims to detail responsibilities, risk managemenl, intemal controls, and audit requirements associated with the use of online banking. ObJe¢tive$ and actlvltles The objectives of Last Sure Start are: A) Educate the public in all matters relating to parenting and child development by the provision of education and training courses. B) enhance the development and education of young children by encouraging parentslguardians to understand and provide for the needs of their children by offering appropriate play facilities, wilh Ihe right of parentlcarers to take responsibility for and to become involved in the activities of thg Company, ensuring that the company offers opportunities for all children regardl8ss of religion, culture. race ability or gender. C) preseNe and protect health by th6 provision of ¢ounselling, advice and information. D) provide facilities in the interests of social welfare for recreation and other leisure lime occupations with the object of improving the conditions of life for the inhabitants of Killyclogher, Lisanelly. Camowen, Drumragh. Slrule. Fintona, Termon & Gortrush wards the aroa of benefit. Strataglc report The following sections for achievern8nts and perfomiance and financial review fomi the strategic report of the charity.
L.A.S.T Sure Start Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) f¢onflnued) Year ended 31 March 2023 Achievements and performan¢e Wilh Ihe accounting period of 202212023 the project ran a number of parenting programmes, Heatth programmos, Outings and social events for all the families registered with Sure Start. Here are exarnples ofthe programme run: Infant Massage ' Baby Yoga Feeding under 5's Potty Training Oral Health Hypno Birthing Managing Children's Behaviour ' Baby Peeps First Aid Circuit Training Pre Football skills . Swim Tots Walking Club ' Baby Reflexology ' Book Start Event Christmas. Halloween & Easter outings . Wriggle & Rhyme event ' Travellers Project Special needs outing & event ' Young Mums Project The total number of families regislered with Last Sure Stsrt is 787 and within this accounling period the projecl had 83 % uptake in all programmes & events run. This achievement has allowed Last Sure Start to be one of the top 20 projects in the North for uptake of services. Last Sure Stsrt helped the local community by offering a service that promotes social engagemenl, emotional and physical well-being by running programmes which will give parents skills to help develop their children's social, education, play and emotional needs. The project also runs programmes that help integrate other cultures within our local community for example we run a very successful Travellers programme and also run an ethical minority parent & toddlers. The Project also offers respit8 crèche to families in most need allowing parents some time out for appointments etc. Within the project there is an element of home visiting which again offers additional support to the families in our local community. This year the project just completed a very successful programme with dads emphasising the importance a dad has on a child's life and within Ihe family unit. Flnancial review Review of the Business The Company is non-profit making and returned a surplus of £974 for the year. The management continues to be engaged in ongoing efficiency savings and is aware of Ihe sustainable use of resources. Reserves Policy The trustees of L.A.S.T Sure Start consider that the charity is not permitted to hold reserves. obligations will therefore be met by statutory authorities. The trustees do however note the deficits reported in the most recent years and consider it prudent to retain some level of reserves.
L.A.S.T Sure Start Company Limited by Guarantae Trustees. Annual Report (Incorporating the Director's Report) r¢ontlnu6dJ Year ended 31 March 2023 Trustees, responsibilities statement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of Ihe charitable company and the incoming resources and applicalion of resources, including the income and expenditure, for that period. In pr8paring these financial statements. the trustees are required to-. select suitable accounting policies and then apply them consistently., observe the methods and principles in the applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going ncern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enabSe them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charily and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor Each of the persons who is a trustee at the date of approval of this report confirms that: so far as they are aware, there is no relevant audit infomiation of which the charity's auditor is unaware,. and they have taken all steps that they ought to have taken as a trust8e to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that infomistion. The trustees. annual report and the strategic report were approved on 16 November 2023 and signed on behalf of the board of trustees by- Mr M Mccolgan Trustee
L.A.S.T Sure Start Company Limited by Guarant88 Independent Auditor's Report to the Members of L.A.S.T Sure Start Year ended 31 March 2023 Opinion We have audit&d the financial statements of L.A.S.T Sure Start (the 'charity') for the year ended 31 March 2023 which comprise the statement of financial activities {including income and expenditure account). stalernent of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation 15 applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a twe and fair view of the state of the Charitys affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UKI {ISAs (UK)) and applicable law. OLrr responsibilities under those standards are further described in the auditorfs responsibilities for the audit of the financial statements section of our report. We are independenl of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fijlfilled our other ethical responsibilities in accordance with these requiremenls. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concem In auditing the financial statements, we have concluded that the trustees, use of the going Goncern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the charity's ability to continue as a going concern for a period of at leasl e1ve months from when the financial statements are authorised for issue. Our responsibilities and Ihe responsibilities of the trustees with respect to going concern are described in the relevant sections of this r8POrt.
L.A.S.T Sure Start Company Limited by Guarantee Independent Auditor's Report to the Members of L.A.S.T Sure Start (¢ontlnued) Year ended 31 March 2023 Other information The other information comprises the infomiation included in the annual report. other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise expliGltly stated in our report, we do not express any form ol assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsislent with Ihe financial slatements or our knowledge obtained in the audit or otheisÈ appears to be materially misslated. If we identify such material inconsistencies or appar8nt material misstatements, we are required to determine whether there is a material misstatement in the financial statemenls or a material misstatement of the other information. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infomiation given in the trustees. report for the financial year for which the financial statements are prepared is consistent with the financial statements., and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us- or th8 financial statements are not in agreement with the accounting records and returns- or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit.
L.A.S.T Sure Start Company Limited by Guarantee Independent Auditor's Report to the Members of L.A.S.T Sure Start {conllnued) Year ended 31 March 2023 Responslbilities of trustees As explained more fully in the trust&es' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation ol financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's abilily to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibilities for the audil of the financial statements Our obj@ctives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatèrnent, whether due to fraud or error, and to issue an audilor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered materi81 if, individually Dr in the aggregate, Ihey could reasonably be expected to infiuence the economic decisions of users taken on the basis of these financial ststemenls. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect malorial misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below.. We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perfomi audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate lo provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect irregularities, including fraud and non compliance with laws and regulations, we considered the following: .the ability of management lo override controls -the nature of the indusiry and sector, together with the performance of the enlity-the use of estimates and judgements in the preparation of financial statements As a result of the above we have considered the opportunities that may exist within the entity for fraud and identified the greatest potential for fraud to be manag6ment override of controls. In common with all audits under ISAS {UKI we are required to perform specific procedures to respond to the risk of managernent override. In response to the above potential risks we have responded by: -we review minutes of meetings for reference to any breaches in laws and regulations and past inslances of fraud -we discuss risk of fraud at the audit team meeting, inclLJding fraud relating to revenue recognition, related parties, and management override and financial statement disclosures -we discuss with management as to how they access, identify and respond to fraud risk within the company.
L.A.S.T Sure Start Company Limited by Guarantee Independent Auditor's Report to the Members of L.A.S.T Sure Start (contlnued) Year ended 31 March 2023 As part of an audit in accordance wilh ISAS {UK), we exercise professional judgment and maintain professional sGepticism throughout the audit. We also= Identify and assess the risks of material misstatem@nt of the financial staternants, whether due to fraud or error. design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not det8Cting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions. misr8presentations. or the override of internal control. Obtain an understanding of internal control relevant to the audit in order lo design audit proceduras that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimales and related disclosures made by the Irustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and. based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we Ixinclude that a mateiial urlcertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or. if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audil evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
L.A.S.T Sure Start Company Limited by Guarantee Independent Auditor's Report to the Members of L.A.S.T Sure Start (conllnued) Year ended 31 March 2023 We communicate with those charged with govemance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any Significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charity's members, as a body. in accordance with Chapter 3 01 Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditols report and for no other purpose. To the fullest ext8nt permitted by law, we do not accept or assume responsibility to anyone Other than the charity and the charity's members as a body, for our audit work. for this report, or for the opinions we have fomied. Gary Thompson {Senior Statutory Auditor) For and on behalf of SP Mccaffrey & Co Chartered accountants & statutory auditor 50 Campsie Road Omagh Co Tyrone BT79 OAG 16 November 2023
L.A.S.T Sure Start Company Limited by Guarante8 Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2023 2023 RestriGt8d funds Total funds 2022 Total funds Note Income and endowments Donations and legacies Total income 824,240 824,240 795,420 795,420 824,240 824,240 Expenditure Expenditure on charitable activities Total expenditure 823,266 823,266 792,468 823.266 823.266 792,468 Net income and net movement in fund8 974 974 2.952 Reconciliation of funds Total funds brought forward Total funds Carried forward 24,749 24,749 21.797 25,723 25.723 24,749 The statement of financial activities includes all gains and losses racognised in the year. All income and expendtture derive from continuing activities. The not•$ on paggs 13 10 20 form part of these flnancial slatemenl$. 10
L.A.S.T Sure Start Company Limited by Guarantee Statement of Financial Position 31 March 2023 2023 2022 Nole Fixed assels Tangible fixed assets 12 306,726 318,430 Current assets Debtors Cash al bank and in hand 13 3,000 25,948 50.364 50,364 28,948 Crodltors: amounts falling due wtthin one year Net current assets 14 35,796 15,354 14,568 13,594 Total assels less current liabilltles 321,294 332,024 Creditors." amounts falllng due after more than one year Net assets 15 295,571 307,275 25,723 24,749 Funds of the charity Restrtcted funds 25,723 24,749 Total charity funds 18 25,723 24,749 These financial statements were approved by the board of trust8es and authorised for issu8 on 16 November 2023. and are signed on behalf of the board by: Mr M Mccolgan Trustee Ms S McDermott Trustee The noles on pages 13 to 20 fom) part of those financial statements. 11
L.A.S.T Sure Start Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2023 2023 2022 Cash flows from operating activities Net income 974 2,952 Adjustments for.. Depreciation of tangible fixed assets Accrued expenses 11.704 2,160 12,422 Changes in.. Trade and other debtors Trade and other creditors Cash g8ner8ted from operations Net cash froml{used in) operaling activtties 3,000 6,578 327 {17,013) (1,312) {1,312) 24,416 24,416 Net Increasel(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equlvalents at end of year 24,416 25.948 (1.312} 27,261 50,364 25,949 The notes on pages 13 to 20 forni part of thes8 financial ststèrnents. 12
L.A.S.T Sure Start Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 General information The charity is a public benefit entity and a private company limited by guarantee, regist8red in Northern Ireland and a registered charily in Northern Ir@land. The address of the registered offic8 is Units 1 &2, Strathroy Enterprise centre, Meelmore Drive. Omagh, Co Tyrone, BT79 7XL. statement of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practice applicable lo charities preparing their a¢counts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102> (Charities SORP (FRS 102}) and Ihe Companies Act 2006. Accounting pollcles Basis of preparation The financial statements have been prepared on the historical Cost basis, as modified by the revaluation of certain financial assets and liabilities and inveslment properties measured at fair value through income or expenditure. The financial statemenls are prepared in sterling, which is the functional currency of the entty. Golng concern There are no material uncertainties about the charity's ability to continue. Judgements and koy sources of estimation uncertalnty Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds eamarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. 13
L.A.S.T Sure Start Company Limited by Guarantee Notes to the Financial Statements {contlnu8d) Year ended 31 March 2023 A¢Gounting pollcies (contlnuéd) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity- it is probable that the economic benefits associaled wilh the transaction will flow to the charily and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement 15 established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or Ihe estimated resale valu8. Donated facilities and Services are recognised in the accounts when received rf the value can be reliably measured. No amounts are included for the contribution of gen8ral volunteers. income from contracts for the supply of services is recognised with Ihe delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case il may be regarded as restricted. Resources expended Expendvture is recognised on an accruals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to whiGh it relates- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activitie5 that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relaling to the govemance of the charity apportioned to chariiable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs a apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assels are initially recorded at cost. and subsequently stated at Cost less any accumulated depreciation and impaimient losses. Any tangible assets carried at revalued amounts are r&corded at the fair value at the date of revaluation less any subs8quenl accumulated deprecialion and subsequent accumulated impairment losses. 14
L.A.S.T Sure Start Company Limited by Guarantee Notes to the Financial Statements (cotttlnuod) Year ended 31 March 2023 Accountlng policies (Continued) Tangible assets {contInd) An increase in the Garying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses. unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activilies. A decrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain. in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so a5 to write off the cost or valuation of an asset, less its residual value, over th@ useful economic lrfe of that asset as follows: Freehold property Fixtures and fittings Motor vehicles Equipment 20/0 Straight line 200/0 reducing balance 20 % reducing balance 20 % reducing balance Impairment of fixed assets A review for indicators of impaimient is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impaimients are also reviewed for possible reversal at each reporting date. For the purposes of impairment tesling, when it is not possible to estimate the reGoverable amount of an individual asset, an estimate is made of the r8coverable amount of the cash-generating unit to which th8 asset belongs. The cash%enerating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assels. For impairment testing of goodwill. the goodwill acquired in a business combination is, from the acquisition date. allocated to each of the cash-generating units that are expected to benefit from the synergies of the Gombination, irrespective of whether olher assets or liabilities of Ihe charity are assigned to those units. Government grants Govemment grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the granl does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where Ihe grant does impose specified future perforrnance-related conditions on the recipient. it is recognised in income only when the perfonnance-rèlated conditions have been met. Where grants receiv8d are prior to satisfying the revenue rgcognition criteria, they are recognised as a 15
L.A.S.T Sure Start Company Limited by Guarantee Notes to the Financial Statements (continu•dJ Year ended 31 March 2023 Accountlng policles (¢ontinueil) Financlal Instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial Instruments are initially re¢ognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investrnents are subsequ8ntly measured at cost less imp8irment. Other financial instruments, including derivatives, are initially recognised al fair value, unless payment for an asset is deferred beyond normal busines5 terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impaiment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Limited by guarantee The Company is limited by guarantee, the members being required to pay not more than £1 in the 8vent of a winding up. 16
L.A.S.T Sure Start Company Limited by Guarantee Notes to the Financial Statements (contInU) Year ended 31 March 2023 Donations and legacies Restricted Total Funds Funds 2023 Restricted Total Funds Funds 2022 Grants Sure Start Funding Expenditure on charitable activities by fund type Restricted Total Funds Funds 2023 824.240 824.240 795,420 795.420 Restricted Total Funds Funds 2022 Sure Start Programme Support costs 822,306 960 822,306 960 791,508 960 791,508 960 823,266 823,266 792.468 792,468 Exp8nditure on charltable activities by actlvily type Aclivities undertaken directly Support costs Total funds 2023 Total fund 2022 Sure Start Programme Govemance costs 822,306 822,306 960 791,508 960 960 822,306 960 823,266 792,468 Net income Net income is stated after chargingl{crediting): 2023 2022 Depreciation of tangible fixed assets 11,704 12,422 Audltors remuneration 2023 2022 Fees payable for the audit of the financial statements 960 960 10. Staff costs 17
L.A.S.T Sure Start Company Limited by Guarantee Notes to the Financial Statements (¢ontlnutd) Year ended 31 March 2023 10. Staff costs (contlnued) The average head count of employees during the year was 41 (2022: 45). The average number of full-time equivalent employees during the year is analysed as follows.. 2023 No. 2022 No. Number of staff 41 45 No employee received employee benefits of more than £60,000 during the year (2022.. Nil). 11. Trustee remuneratlon and expenses No trustee received any remuneration or other benefits from L.A.S.T Sure Start or any other related entity. 12. Tangible fixed assets Freehold Fixtures and prop8rty fittings Motor vehicles Equipment Total Cost At 1 April 2022 and 31 March 2023 441,472 15,082 72,233 52,363 581,150 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 137,411 8,830 15,082 58.722 2.702 51,505 172 262,720 11.704 146.241 15.082 61.424 51,677 274,424 Carrying amount At 31 March 2023 295.231 10,809 686 306.726 At 31 March 2022 304,061 13,511 858 318,430 13. Debtors 2023 2022 HMRC - Employment Allowance 3,000 14. Creditors: amounts falling due within one year 2023 2022 Trade creditors Accruals and deferred income 33.636 2,160 15,354 35.796 15,354 18
L.A.S.T Sure Start Company Limited by Guarantee Notes to the Financial Statements (¢ontinuedJ Year ended 31 March 2023 15. Creditors: arnounts falling due after more than one year 2023 2022 Accruals and deferred income 295,571 307,275 16. Deferred income 2023 2022 At 1 April 2022 Amount released to income 319,697 (24,126) 295,571 319,697 (12,422) 307,275 At 31 March 2023 17. Government grants The amounts recognised in the financial statements for government grants are as follows: 2023 2022 Recognised in creditors-. Deferred govemment grants due after more than one year 319,697 319,697 18. Analysls of charltable funds Restricted funds At 31 March 202 At 1 April 2022 Income Expendituro Restricted Funds 24,749 824,240 (823,266) 25.723 At 31 March 202 At 1 April 2021 Income Expenditure Restrrcted Funds 21,797 795,420 (792,468) 24,749 19
L.A.S.T Sure Start Company Limited by Guarantee Notes to the Financial Statements (¢ontinuedJ Year ended 31 March 2023 19. Analysis of net assets between funds RestrScted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 306.726 50.364 (35.796) (295.5711 25,723 306,726 50,364 (35,796) (295.571) 25.723 Restricted Totsl Funds Funds 2022 Tangible fixed assets Curr8nt assets Creditors less than 1 year Creditors greater than 1 year Net assets 318,430 318,430 28,948 28,948 115,355) (15,355) {307,274) {307.274) 24.749 24.749 20. Analysis of Changes in net debt At At 1 Apr 2022 Cash flows 31 Mar 2023 Cash at bank and in hand 25,948 24,416 50,364 20
L.A.S.T Sure Start Company Limited by Guarantee Management Information Year ended 31 March 2023 The following pages do nol form part of the financial statements. 21
L.A.S.T Sure Start Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 March 2023 2023 2022 Income and endowments Donations and legacles Sure Start Funding 824.240 795,420 Total income 824,240 795,420 22
L.A.S.T Sure Start Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 March 2023 2023 2022 Expenditure on charitable activities Sure Start Programme Activities undertaken directly Direct charitable activity 1 - wageslsalaries Direct charitable activity 1 nI Direct charitable activity 1 light & heat Direct charitable activity 1- insurance Direct charitable activity 1- motor vehic18 expenses Direct charitable aclivity 1- other motorltravel costs Direct charitable activity 1 telephone Direct charitable activity 1 Printing, stationery & postage Direct charitable activity 1 depreciation Direct charitable activity 1 cleaning of premises Direct charitable activity 1 recruitment costs Direct charitable Sctivity 1 health visitor Speech & language Programme costs Equipment repairs & renewals Sundry expenses Training Sure Start creches x4 Membership fees 2 Year Old programme Legal & professional fees Accountancy fees Bank charges Amortisation of Grants 588,055 9.440 2,082 10,411 6,592 9,658 5,971 5,698 11,704 4,558 553.694 9.440 1,140 9,900 7,328 9,696 4,624 4,815 12,422 6,248 2,131 15,803 60,399 6,116 12.026 908 6,037 60,972 14,961 59,256 13,248 7,755 128 7,236 54,020 455 14,913 6,000 1,200 669 {11.704) 822,306 14.463 3.842 1.200 726 (12,422} 791,508 Governance costs Governance costs - audit fees 960 960 Expendlture on charitsble activities 823,266 792,468 23