Democrashe Ltd Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 July 2024 2024 Unrestricted funds Total funds Total funds 2023 Note Income and endowments Charitable activities 6,823 6,823 11,880 Total income 6,823 6,823 11.880 Expenditure Expenditure on charitable activities Total expenditure 12.934 12,934 12,663 12,934 12,934 12,663 Net expenditure and net movement in funds (6.111) (6,111) (783) Reconciliation of funds Total funds brought forward Total funds carried forward 23,024 23,024 23,807 16.913 16,913 23,024 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 11 to 16 fomi part of these financial statements. Democrashe Ltd Company Limited by Guarantee Statement of Financial Position 31 July 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 10 12,710 30,299 9,853 28,214 43,009 38,067 Creditors: amounts falling due within one year Net current assets 11 (26,096) 16,913 (15,043) 23,024 Total assets less current liabilities 16,913 23,024 Funds of the charity Unrestricted funds 16,913 23,024 Total charity funds 12 16,913 23,024 For the year ending 31 July 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Direclors. responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordan￿ with section 476- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies. regime. These financial statements were approved by the board of trustees and authorised for issue on 30 April 2025, and are signed on behalf of the board by- Fiona J. Macmillan Ms F Macmillan Trustee The notes on pages 11 to 16 fomi part of these financial statements. 10 Democrashe Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 July 2024 General inforniation The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 23 Rugby Road, Belfast. BT7 1 PT. 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 Ststement 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 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 investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling. which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experien￿ 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 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 terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. 11 Democrashe Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2024 Accounting policies (continuedj 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 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 is recognised when there is evidence of entitlemenl 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 services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunleers. income from contracts for the supply of services is recognised with the delivery of the contracted servi￿. 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 it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which 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 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 charitable 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 are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. 12 Democrashe Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2024 Accounting policies (continuedj Financial instruments (¢ontlnued) Basic financial instruments are initially recognised 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 al 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 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 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 markel 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 ex￿ptIOn 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 impairment, 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 signfficance, 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 impaiment 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 impaimient not previously been recognised. Limited by guarantee The charity is a public benefit entity and a private company limited by guarantee. registered in Northern Ireland and a registered charity in Northem Ireland. 13 Democrashe Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2024 Charitable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 DFAT Department for Communities Other Income 2.283 2,283 10,751 1,000 129 10,751 1.000 129 4.540 4,540 6.823 6,823 11,880 11,880 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Educational Programmes Support costs 10,684 2.250 10,684 2,250 10,692 1,971 10,692 1,971 12,934 12,934 12,663 12,663 Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Educational Programmes Governance costs 10,684 10,684 2,250 10,692 1,971 2,250 10,684 2,250 12,934 12,663 Independent examination fees 2024 2023 Fees payable to the independent examiner for- Independent examination of the financial statements 2,080 1,800 Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees (2023-Nil) 10. Debtors 2024 2023 Trade debtors 12,710 9,853 14 Democrashe Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2024 11. Creditors: amounts falling due within one year 2024 2023 Other creditors 26,096 15,043 12. Analysis of charitable funds Unrestricted funds At 1 August 202 At Income Expenditure 31 July 2024 General funds 23,024 6,823 (12,934) 16.913 At 1 August 202 At Income Expenditure 31 July 2023 General funds 23.807 11,880 (12,663) 23,024 13. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net assets 43,009 (26,096) 16,913 43,009 (26,096) 16,913 Unrestricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 38,067 (15,043) 23,024 38,067 (15,043) 23,024 14. Taxation The Company is a registered charity. and as such is entitled to tax exemptions on income and profits in furtherance of the charity's primary objectives. 15 Democrashe Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2024 15. Contingencies A contingent liability exists to repay grants and Trust monies received should certain conditions not be fulfilled by the charity. In the opinion of the Trustees, the terms of the Letters of Offers have been. or will be. complied with and no liability is expected. 16. Ethical standards In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. 16