COMPANY REGISTRATION NUMBER: N1057099 CHARITY REGISTRATION NUMBER: 103776 L.A.S.T Sure Start Company Limited by Guarantee Financial Statements 31 March 2024 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 2024 Page Trustees, annual report (incorporating the directorfs report) Independent auditorfs report to the members Statement of financial activities (including income and expenditure account) ststement of financial position ststement 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 (Incorporatlng the Dlrectorfs Report) Year ended 31 March 2024 The trustees. who are also the directors for the purposes of company law. present their report and the financial statements of the charty for the year ended 31 March 2024. Reference and administrative details Reglstored charity name L.A.S.T Sur8 Start Charlty reglstratlon number 103776 Company rogistration number N1057099 Prlnclpal office and registered UnÉts 1&2 office Strathroy Enterprise cenlre Meelmore Drive Omagh Co Tyrone BT79 7XL The trustees Mr M M¢Colgan Ms S McDermott Ms P Colgan Ms P Cleary Mrs N Carson Audltor SP Mccaffrey & Co Chartered accountants & statutory auditor 50 Campsie Road Omagh Co Tyrone BT19 OAG Structure. governance and managoment Goveming documenl L.A.S.T Sure Start is a company limited by guarantee {Registration Number N1057099). The company is governed by its Memorandum of Articles of Associalion. 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 Guarantoe Trustees. Annual Report (Incorporating the Director's Report) {contlnuÈd) Year ended 31 March 2024 Structure, governance and management {¢ontinued) Governance L.A.S.T Sure Slart has a responsibilty to conduct its business efficiently. The establishment of. and the strict adherence to sound financial managernent policies is an integral part of the organisation. The Board of directors and Management Committee of are committed to establishing, maintaining and applying all necessary good practice to ensure that their duty of care to the management of finances of the organisation are fulfilled. The Board of directors are responsible for taking the slrategic decisions of how the Charity will mov8 fOard and who also are responsible for appointments to the board. It is essential that L.A.S.T Sure Start control all operatlonal risks as far as Is possible. This includes the participation of all those involved dlrectly or indirectly with the banking arrangements for the organisatlon. Along with the financial systems of the organisation, this pollcy alms to detail responsibllities, risk management, intemal Controls. and audit requirements assoclated with th8 use of online banking. Objectives and activities Th8 objectlves of Last Sure Stsrt are: A) Educate the public in all matters relating to parenting and child development by the provision of educats'on and training courses. B) enhance the development and education of young children by encouraging parentslguardians to understand and provide for the needs of Iheir children by offering appropriate play facilities, with the right of parenvcarers to take SpOnsIbl11ty for and to become involved in the activities of the Company. ensuring that the company offers opportunities for all children regardless of religion. culture, race ability or gender. C) preserve and protect health by the provision of counselling. advice and information. D) provide facilities in the interests of social weffare for recreation and other leisure lime occupations with the object of improving the conditions of life for the inhabitants of Killyclogher. Lisanelly, Camowen, Drurnragh, Strule, Fintona. Tennon & Gortrush wards Ihe area of b8nefit. Strateglc r•port The following sections for achievements and performance and financial review form the strategic report of the Charity.
L.A.S.T Sure Start Company Llmited by Guarantoe Trustees. Annual Report (Incorporatlng the Directorfs Report) (conrfnu•d) Year ended 31 March 2024 Achlevements and perfornian Wilh the accounting period of 202312024 the project ran a number of parenting programmes. Health programmes, Outings and social events for all the families registered with Sure Start. Here are examples of the programme run: ' Infant Massage Baby Yoga Feeding und8r 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 ' PEEP ' Special needs outing & event ' Young Mums Project The total number of families registered with Last Sure Start is 929 and within this accounting period the project had 78 % uptake in all programmes & events wn. This achievement has allowed Last Sure srt to be one of the top 20 projects in the North for uptake of services. Last Sure Start helped the local community by offering a seNice that promotes social engagement, 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 communlty for example we run a very successful Trav8llers programme and also run an ethical minority parent & toddlers. The Proj8Ct also offers respite 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 the family unit. Financlal review Revlew of tho Buslness The Company is non-profit making and returned a surplus of £2,096 for the year. The management continues to be engaged in ongoing efficiency savings and is aware of the sustainable use of resources. Reserves Pollcy The trustees of L.A.S.T Sure Start conslder that the charity is not permitted to hold reserves, obligations will therefore be met by statutory authorities. The trustees do how8V8r not8 the deficits reported in the two mosl recent y8ars and consider it prudent to retain some level of reserves.
L.A.S.T Sure Start Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Roport) (eontlnuod) Year ended 31 March 2024 Trustees. responslbllltles ststement The twstees. 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 ststements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resoUe$ and application of resources, including the income and expenditure, for that period. In preparing these financial statements. the trustees are required to: select suitable accounting policies and then apply them consistently-, observe the methods and prlnciples in the applicable Charities SORP- make judgments and accounting estimates that are reasonable and Prudent: state whether applicable UK Accounting Standards have b8en followed, subject to any material departures disclosed and explained in the financial statemenls. prepare the financial statements on the going concern 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They ar8 also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detectlon of fraud and other irregularities. Audltor Each of the persons who is a trustee at the date of approval of this report confimis that: so far as they are aware. there Is no relevant audit informatlon of which the charity's auditor is unaware. and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charitys auditor is aware of that information. The trustees. annual report and the slrdtegic report were approved on 17 September 2024 and signed on behalf of the board of trustees by: Mr M Mccolgan Trustee
L.A.S.T Sure Start Company Limited by Guarantea Independent Audltor's Report to the Members of L.A.S.T Suré Start Year ended 31 March 2024 Opinion We have audited the financial statemenls of L.A.S.T Sure Start (the 'charty'} for the year ended 31 March 2024 which Comprise the statement of financial activities (induding income and expenditure account), statement of financial position, ststement 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 is 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 slatements: give a true and fair view of the state of the charlvs affalrs as at 31 March 2024 and of its Incoming resources and application of resour8, including its income and expenditure, for the year then ended; have b8an 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 oplnlon We conducted our audit in accorfjance with Intemational Standards on Auditing {UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further desGribed in the auditorfs responsibilities for the audit of the financial statements seclion of our report. We are independent of the charty in accordance wrth the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Slandard, and we have fulfilled our other ethical responsibilities in accordance wlth these requirements. We believe that the audit evidance we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the trustees. use of the going conc8m 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 doubt on the charity's ability to continue as a going Goncern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report.
L.A.S.T Sure Start Company Limited by Guarantee Independent Auditorfs Report to the Members of L.A.S.T Sure Start I11nued) Year ended 31 March 2024 Other infomiatlon The other infomiation Comprises the information included in the annual POrt. other than the financial statements and our auditor's report thereon. The trust88s ar8 responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly ststed in our report, we do not express any form of assurance conclusion theOn. 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 inconsistent with the financlal statements or our knowledge obtained in the audit or otherwlse appears to be materially mlsstated. If we identfy such mat8rial inconsistencles or apparent material mlsstatements, we are required to detemilne whether there is a material misstatement In the financial statements or a material misststement of the other information. If, based on the work we have perfomied, we condud8 that th8re is a material rnisstatement of this other information, w8 are required to report that fact. We have nothing to r8POrt in this regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In OUT opinion, based on the work undertaken in the course of the audit.. the infonnation 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 applicab18 legal requirements. Matters on whl¢h we are required to roport by ex¢eptlon In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audlt, we have not identified material misststements in th8 trustees, report. V¥e have nothing to report in respect of the following matters in relatlon to which the Companies Act 2006 requires us to report to you rf. in our opinion: adequate accounting records have not been kept, or returns adequate for our audit hav8 not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns., or certain dtsclosures of trustees, remuneration specffied by law are not made,. or we have not received all the infomiation and explanations we require for our audit.
L.A.S.T Sure Start Company Llmlted by Guarantee Independent Audltorfs Report to the Members of L.A.S.T Sure Start (¢ontlnued) Yearended 31 March 2024 Responslbllltles of trusteos As explained more fully In the trustees, responsibilities statement. Ihe trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for b8ing satisfied Ihat they give a true and fair view. and for such intemal control as the trustees detennine is necessary lo enable the preparation of financial statements that ar8 fre8 from material misstatement, whether due to fraud or error. In preparing the financial stat8m8nts, the trustees are responsible for assessing the charity's ability to continue as a going GOnrn, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the trustees either Intend to liquidate the charity or to cease operations, or have no reallstlc altemative but to do so. Audftorfs responsibilitl•s for Ihe audlt of the financial statements Our objeclives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurdnce is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misststement when it exlsts. Misstatements Can arise from fraud or error and are considered materlal if, individually or in the aggregate, th8y could reasonably be expected to influence the economic declslons of users laken on the basis of these financial ststements. Irregularities, including fraud. are instances of non-compllance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, in¢ludlng fraud. The extent to which our procedures are capable of d8tecting IrregularFties, including fraud is detailed below.. We identify and assess the risks of material mi&statement of the financial statements, whether due to fraud or error. and then design and perform audit procedures responsive to those risks, induding obtainlng audit evidence that is sufficient and approprlate to provide a basis for our opinion. In identSfying and assessing risks of material misststement 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 industry and sector, together with the performance of the entity-the use of estimates and judgements in the preparation of financial ststements As a result of the abov8 we have considered the opportunltles that may exist within the entty for fraud and identified the greatest potential for fraud to be management override of controls. In common with all audils under ISAS (UK) we are required to perform specific procedures to respond to the risk of management 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 instances of fraud -we discuss risk of fraud at the audit team meeting, including fraud relating to revenue recognition. related parties, and management override and financial statemenl disclosures -we discuss with management as to how they a¢¢ess. identrfy and respond to fraud risk within the company.
L.A.S.T Sure Start Company Limited by Guarantee Independent Auditor's Report to the Membèrs of LA.S.T Sure Start (condnued) Year ended 31 March 2024 As part of an audit in accordance with ISAS (UK). we exercise professional judgment and maintain professional scepticism throughout the audit. We also- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perfonn audit procedures responsive to those risks, and obtaln audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of intemal control. Obtain an understanding of intemal control relevant to the audit in order lo design audit procedures that are appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting F)olicies used and the reasonableness of accounting estimates and related disclosures made by the trustee5. Condude on the appropriateness of the truslees. use of the going conrn basis of accounting and. based on the audit evidence obtained. whether a material UnrtaintY exists related to events or conditions that may cast significant doubt on the charitys ability to continue as a going concem. If we conclude that a material uncertainty 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 audit evidence obtained up to the date of our auditor's report. However. future events or conditions may cause the charity to cease to continue 8s a going concem. Evaluale the overall presentation, structure and content of the financial ststements, including the disclosures, and whelher the financial ststements represent the underlying transactions and events in a manner that achieves fair presentation.
L.A.S.T Sure Start Company Limited by Guarantee Independent Audltorfs Report to the Members of L.A.S.T Sure Start {continugd) Year ended 31 March 2024 We communicat8 With those Charged with govemance regarding, among other matters, the planned scope and tlming of the audit and signfficant audit findlngs. including any significant deficiencies in internal control that we identify during our audlt. Use of our report This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audtt 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 auditorfs report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responsibility to anyon8 Other than the charity and the charitys members as a body, for our audit work, for this report, or for the opinlons we have formed. 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 17 September 2024
L.A.S.T Sure Start Company Llmited by Guarantee Statement of Financlal Activitles (including income and expenditure account) Year ended 31 March 2024 2024 Restrioted funds Total funds Total funds 2023 Nots Income and endowments Donations and legacies Totsl Income 824,263 824.263 824,240 824,263 824.263 824,240 Expenditure Expenditure on charitable activities Total expenditure 822.167 822,167 823,266 822,167 822,167 823,266 Net Incom• and nel movement In funds 2,096 2,096 974 Recon¢lliation of funds Total funds brought fonward Total funds carrled forward 25,724 25,724 24,749 25,723 27,820 27,820 Th8 Statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Tho notes on page$ 13 to 20 forni part of these financlal statements. 10
L.A.S.T Sure Start Company Limited by Guarantee Statement of Flnanclal Position 31 March 2024 2024 2023 Not0 Flxed assets Tangibl8 fixed assets 12 295,597 306,726 Current assets Cash at bank and in hand 60,220 50,364 Credltors: amounts falling duo within one year Net current assets 13 43.555 35,796 14,568 16.665 Total assels less current liabilities 312,262 321.294 Creditors: amounts falllng du8 aft8r more than one year Net assets 14 284.442 295,571 27,820 25.723 Funds of the charity Restricted funds 27.820 25,723 25,723 Totsl charlty funds 17 27.820 These financial statements were approved by the board of trustees and authorised for issue on 17 September 2024, and are signed on behalf of the board by: Mr M Mccolgan Trustee Ms S McDermott Trustee The nolos on pages 13 to 20 fo part of Ihose financlal statèments. 11
L.A.S.T Sure Start Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operating actlvlties Net Income 2,096 974 Adjustments for.. Depreciation of tangible fixed assets Accrued expenses 11.129 11.704 2.160 Changes in.. Trad8 and other debtors Trade and other creditors 3,000 6,578 (3,369) 9.856 Cash generated from operations Net cash from operating activities 24,416 9.856 24,416 Net Increase in cash and cash equivalents Cash and cash equivalents at beginnlng of yoar Cash and cash equivalents at end of year 9.856 50.364 24,416 25,948 60,220 50.364 Tho note3 on pages 13 to 20 ft>rni part of thèse flnan¢lal statements. 12
L.A.S.T Sure Start Company Limited by Guarantee NotOS to the Financial Statements Year ended 31 March 2024 General Infomiatlon The charity is a public benefit entty and a private company limited by guarantee, registered in Northern Ireland and a registered charty in Northern Ireland. The address of the registered office is Units 1 &2, Strathroy Enterprise cenlre, Meelmore Drive, Omagh, Co Tyrone. BT79 7XL. Statement of ¢ompllance 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 to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} {Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basls of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through incom8 or expenditur8. The financial statements are prepared In sterling, whlch Is the functlonal currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estlmatlon 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 accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charitys purposes. Designated funds are unrestricted funds earmarked 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 temis 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 Guarant88 Notes to the Financlal Statements (¢onUnu Year ended 31 March 2024 Accountlng pollcles {ContInu) Incomlng 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 associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants ts 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 is 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 the estimated resale value. Donated facilities and servlces are re¢ognised In the a¢counls when re¢eiv8d if the value can be rellably measured. No amounts are included for the contribution of gen8ral volunteers. income from contracts for the supply of servlces is re¢ognised with the delivery of the contracted service. This is classified as unrestrided funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent. in which case it may be regarded as restricted. ResoUe$ expended Expenditure is recognis8d on an accruals basis as a Ilabllty is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classlfied under headings of the statement of financial activities to which it relates: expenditure on raising funds Includes the Costs of all fundraising activlties. events, non-charitable trading activities. and the sale of donated goods. expenditure on charitable activilies includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitsble activities. other expendilure 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 are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. 14
L.A.S.T Sure Start Company Limitod by Guarantee Notes to the Financial Statements Icontlnued) Year ended 31 March 2024 Accounting pollcies {contlnu8dJ Tanglble assets (continu) An increase in the carrying amount of an asset as a result of a revaluation. is recognised in other recognised gains and losses, unless it reverses a charge for irnpairment that has previously been recognised as expenditure within the ststement of financial activities. 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 ststement of financial adlvltles. Depreclatlon Depreciation is calculated so as to write off the cost or valuation of an asset. less its residual value, over the useful economic life of that asset as follows- Fr88hold propety Fixtures and fittings Motor vehides Equipment 20/0 straight line 20 % reducing balance 20 /0 reducing balance 20 /0 reducing balance Impalmient of fixed assets A review for indicators of impaimient is Carrted out at each reporting date, with the recoverable amount being estimated wh8re such Indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impainnent testing, vh)en it is not possible to estimate the recoverable amount of an Indlvidual asset. an estimate is made of the recoverable amount of the casFFgeneratlng unit to which the ass8t b81ongs. The cash-generating 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 assets. For Impaim)ent testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units Ihat are expected to benefit from the synergies of the Combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Government grants Government grants are recognised at the fair value of the asset recelved or r8c8ivable. Grants are not recognlsed until there is reasonable assuran that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future perfomiance-related conditions on the recipient. it is recognised in incom8 when the grant proceeds are received or receivable. Where the grant does impose specffied fijture performance-related conditions on the recipient, it is recognlsed In income only when the perfonnance-related conditions have been met, Where grants received are prior to satisfying the revenue recognition crlterla, they are recognised as a 15
L.A.S.T Sure Start Company Limited by Guarantee Notes to tho Flnancial Statements (continuod) Year ended 31 March 2024 Accountlng policies (¢oft¢inu•dJ Financial Instruments A financial asset or a financial liabilty is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and Current liablllties arè subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortlsed cost. Where investments in shares are publicty traded or th8ir 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 investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value. unless payment for an asset is deferred beyond normal business tenns 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 mark8t rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes r8cognised in the statement of financial a1vItIes, 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 impaim)ent, 8n impairment loss is recognised under the appropriate heading in the statement of financial actlvities in which the initial gain was recognised. For all equty instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impaimient. other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impaimient are recognised immediately, to the extent that the reveal does not result in a carrying amount of th8 ffinancial 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 m8mbers being required to pay not more than £1 in the event of a winding up. 16
L.A.S.T Sure Start Company Llmited by Guarantee Notes to the Flnanclal Statements (eontlnued) Year ended 31 March 2024 Donatlons and legacies Restricted Total Funds Funds 2024 Restricted Total Funds Funds 2023 Grants Grant Funding 824,263 824,263 824,240 824,240 Expenditure on charllable a¢tivitles by fund type Restricted Total Funds Funds 2024 Restricted Total Funds Funds 2023 Sure Starl Programme Support Costs 821,210 957 821,210 957 822,306 960 822.306 960 822.167 822.167 823,266 823,266 Expenditure on charitable actlvities by activity type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Sure Start Programme Goveman¢e costs 821,210 821,210 957 822,306 960 957 821,210 957 822,167 823,266 Net Income Net income is stated after chargingl(¢rediting): 2024 2023 Depreciation of tangible fixed assets 11.129 11,704 Auditors r•muneratlon 2024 2023 Fees payable for the audit of the financial stslements 960 960 10. Staff Costs The total staff costs and employee benefrts for th8 reporting period are analysed as follows.. 2024 2023 Wages and salaries 539.508 588,055 17
L.A.S.T Sure Stsrt Company Llmited by Guarantee Notes to the Flnanclal Statements (contlnued) Year ended 31 March 2024 10. Staff costs {ntInUed) The average head count of employees during the year was 41 (2023.. 41). The average number of fulktime equivalent employees during the year is analysed as follows: 2024 2023 No. No. Number of staff 37 41 No employee re¢elv8d employee b8nefits of more than £60.000 during the year (2023: Nil}. 11. Trustee remuneration 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 propety ttings Motor vehicles Equipment Tolal Cost At 1 April 2023 and 31 March 2024 441.472 15.082 72,233 52,363 581.150 Depreclallon At 1 April 2023 Charge for the year At 31 March 2024 146,241 8.830 15,082 61,424 2,162 63,586 51.677 137 274,424 11,129 285,553 155,071 15.082 51,814 Carrying amount At 31 March 2024 286,401 8.647 549 295.597 At 31 March 2023 295,231 10,809 686 306.726 13. Creditors: amounts falllng due withln onè year 2024 2023 Trade creditors Aecwals and deferred income 41,395 2.160 33,636 2.160 43,555 35,796 14. Creditors: amounts falling due after more than one year 2024 2023 Accruals and deferred income 284,442 295.571 18
L.A.S.T Sure Start Company Limited by Guarantee Notes to the Flnanclal Statements (conthiuedj Year ended 31 March 2024 15. Deferred income 2024 2023 At 1 April 2023 Amount released to income 319,697 {35.255) 284.442 319,697 (24,126) 295.571 At 31 March 2024 16. Government grants The amounts recognised in the financial statements for government grants a as follows: 2024 2023 Recognised in credilors.. Deferred government grants due after more than one year 284,442 295,571 17. Analysls of charitable funds Restrlcl•d funds At 31 March 202 At 1 April 2023 Income Expenditure Restricted Funds 25.724 824,263 (822,167) 27,820 At 31 March 202 At 1 April 2022 Incorne Expenditure Restrlcled Funds 24,749 824,240 (823,266) 25,723 19
L.A.S.T Sure Start Company Limited by Guarantee Notes to the Flnancial Statements (¢ontinu8dJ Year ended 31 March 2024 18. Analysis of net assets between funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 295,597 295,597 60,220 60,220 {43,555} {43.555) (284,442) (284,442) 27,820 27.820 Restricted Total Funds Funds 2023 Tanglble fixed assets Current assets Creditors less than 1 year Credilors greater than 1 year Net assets 306,726 306.726 50.364 50,364 (35,796) <35.796) {295,571) (295.571) 25,723 25.723 19. Analysis of changes in net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and In hand 50,364 9,856 60,220 20
L.A.S.T Sure Start Company Limited by Guarantee Management Inforniation Year ended 31 March 2024 The followlng pages do not form part of the flnancial statemenls. 21
L.A.S.T Sure Start Company Limited by Guarantee Detsiled Statement of Flnancial Actlvities Year ended 31 March 2024 2024 2023 Income and endowments Donatlons and l•gaci•$ Grant Funding 824.263 824.240 Total income 824,263 824,240 22
L.A.S.T Sure Start Company Limited by Guarantee Notes to the Detailed Statement of Financial Activitles Year ended 31 March 2024 2024 2023 Expenditure on charftable actlvltles Sure Start Programme Activities undertaken directty Direcl charitable activity 1- wageslsalaries Direct charitable activity 1 rent Direct chawitable activty 1- light & heat Direct charitable activity 1- insurance Direct charitable activity 1- motor vehicle expenses Direct charitable activity 1- other motorltravel costs Direct charitable activity 1- telephone Dlrect charitable activity 1- Printing. slationery & postage Direct Charitable activlty 1- depreciation Direct charitable activlty 1- deaning of premSses Direct charitsble activity 1 health visitor Speech & language Programme cosls 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 539,508 9.439 590 10.986 10.638 12.087 6,615 7,813 11.129 7,251 12,599 54,929 19.102 21,797 1.169 4.798 73,014 2.060 21.089 3,840 1.200 686 {11,129) 821,210 588.055 9.440 2,082 10,411 6,592 9,658 5,971 5,698 11.704 4,558 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 Governance costs Govemance Costs - audit fee5 957 960 Expenditure on charitable actfvlti•$ 822,167 823,266 23