CavanaghKelly"
Company Registration Number: N1022996
Charity Registration Number: 104137
Buddy Bear Trust
(Charltable Company Limited by Guarantee)
Annual Report and Unaudited Flnanclal Statements
For the year ended 3 1 August 2022

ONTENTS
For the
ear end d
IAU
ust 2022
Page
General Information
Directors, Report
Independent Examlnerfs Report
9-10
statement of Financial Actlvities
11
Statement of Financlal Position
12-13
Notes to the Flnanclal Statements
14-23

Budd Bear Trust
haritabl
om
an
Limit d b Guarantee
GENERAL INFORMATION
Board of Directors
Phyllis Agnew
Brendan Mcconville
Mary Murphy
Jennifer Coggan
John Daly
Company Secretary
Phyllis Agnew
Reglstered Office
Peto Centre
Killyman Road
Dungannon
Co Tyrone
BT71 6DE
Company Reglstratlon Number
N1022996
Charlty Reglstratlon Number
104137
Independent Examlners
CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co Tyrone
BT716AP
Bankers
Ulster Bank
39 Market Square
Dungannon
Co Tyrone
BT70 IJJ
Sollcitors
Tughans Sollcltors
Marlborough House
30 Victoria St
Belfast
Co Antrim
BTI 3GG
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page12

Budd Bear Trust
ri
abl
DIRECTORS, REPORT for the
ear ended 31 Au
ust 2022
The Directors, who are the trustees for the purpose of charity law, have pleasure in presenting
their report and the unaudited financial statements of the charitable company for the year
ended 31 August 2022.
The financial statements have been prepared in accordance wlth the Statement of
Recommended Practice "Accounting and Reporting by Charities" (FRS 102) and the Companies
Act 2006.
Reference and Administration Detalls
The reference and administration details of the charitable company are as shown on page 2.
Objectives and Actlvltles
The principal activity of the charltable company Is to relleve slckness of chlldren suffering from
cerebral palsyi spina bifida and other motor neurone disorders.
The main strategic objectlves of the Trust are:
To provlde conductlve educatlon for chlldren who suffer from cerebral palsy and other
motor dlsorders.
To become a "malnstream" part of educatlon and therapy for chlldren sufferlng from
cerebral palsy in Northern Ireland and to see greater integration of the exlstlng servlces of
health and educatlon for such chlldren.
The key aims of Buddy Bear Trust are to allow young people to benefit from this life chang5ng
therapy and develop thelr own optlmum level of Independence.
Publlc Beneflt Statement
The Dlrectors of Buddy Bear Trust conflrm that they have complled wlth thelr duty under
section 4(6) of the Charltles Act (Northern Ireland) 2008 to have regard to the Charlty
Commlsslon for Northern Ireland's guldance on public beneflt and that the publlc benefit
requSrement has Informed the activltles of the charltable company In the year ended 31 August
2022.
Achlevements and Performance
Children with Cerebral Palsy at the Buddy Bear Trust Conductlve Education School ("Buddy Bear
School") benefited from a team lead by the prlnclpal and three other Peto trained Conductors,
all of whom are reglstered wlth the General Teaching Council of Northern Ireland as well as two
experienced Classroom Asslstants and a part-tlme Secretary. The Buddy Bear School was able
to offer places to 26 chlldren in one of four maln groups belng:
Parent and Child Group (Pre-Nursery);
Nursery Group;
School Group I; and
School Group 2.
CavanaghKellyr Chartered Accountants & Statutory Auditors
Page13

Budd Bear Trust
ritabl
an
Limit d b
uarantee
DIRECTORS. REPORT for the
ear ended 31 Au
ust 2022
Continued
Children at the Buddy Bear School made great progress under the guidance of the
Conductorsffeachers. Each child made visible progress throughout the year which pleased and
motivated their parents to request more conductive education within the school. Children new
to the school began the first stages of walkingi while others used the mounted wall bars in
classrooms to pull themselves into a standing position and show new levels of mobility, all of
which brought positive feedback from parents, One parent shared a quote wlth us "We are so
grateful that our chlld attends Buddy Bear. Even with the pandemic the care, teaching
sessions, progress and support he has received from the Buddy Bear team has been Incredlble.
It has been amazing to see progress so much In such a short space of tlme and has filled us all
wlth such hope and joy for the future.
The school contlnued enhanced covld-19 protectlon processes to ensure a safe envlronment
wlthln the school for the parents and chlldren. The processes Included:
Staggered arrival/entrance times for parents and chlldren
Temperature checks for all parents, chSldren and staff on entrance
Slgn In book for contact detalls
PPE Equipment worn by all staff throughout the day
Sanitlslng statlons In every classroom, kltchen, bathrooms
During the year, the school continued to receive various grants and financial support including
furlough grants to ald the furlough of teachers and conductors where necessary.
At the date of these flnanclal statements, the processes stated are still Sn place with Ilmlted
access to the school only for conductors/teachers, parents and chlldren.
Durlng the year the Buddy Bear Trust held a launch event for Its five year 'Llfetlme of
Dlfference, project. The project includes plans to provide satellite sessions in both Belfast and
Derryi thereby offerlng three locations and Sncreasing accessibillty for chlldren rlght across
Northern Ireland. The project Is belng funded for the next flve years from the National Lottery
Community Fund and the Mcclay Foundation. These vital funds serves as a platform but stlll
leaves a shortfall for the optimum running costs of the school whlch we need to supplement
wlth government fundlng and ongolng fund ralslng.
The Buddy Bear Trust continues to rely heavily on volunteers to assist in the day to day
operatlonal runnlng of the charity. Such volunteers are invaluable, and the charity contlnues to
be grateful for thelr contlnued Input, The volunteers do not receive any remuneration; however,
the charity will cover any costs of travel and expenses in order to ensure no volunteers are out
of pocket for the costs they incur. Good volunteers are the backbone of any charity and we
appreclate thelr tlme and effort.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page14

Budd Bear Trust
harit bl
nt
DIRECTORS, REPORT for the
ear ended 31 Au
ust 2022
Continued
Inde
endent School Ins
ection
The school last had an inspection by the Education Training Inspectorate In December 2020
with the focus on:
The learners, achievements and standards in literacy and numeracyi
Whether the accommodation Is suitable and meets health and safety standards.
The Implementatlon of procedures for safeguardlng and pastoral care.
The quality of leadership and management
The full inspection was carrled out with findings and concluslons documented wlthln an official
report of inspection. DE Ref No. IS59 to which key flndlngs have been noted below.
Outcomes
or
The puplls all have complex physical dlfflcultles arising from medlcal condltions, despite these,
they make steady progress in their physlcal, educational, communlcatlon and play skills targets.
A small number of parents and famlly members shared with the Inspectors their highly posltlve
experiences of the school. They reported that thelr chlldren are safe and very happy and
appreclate the ongolng support they recelve from staff to Increase thelr skllls Sn helplng thelr
chlldren.
It was also reported that the puplls are very well settled and enjoy thelr routlnes and actlvltles
Sn school and Interact well with staff and vlsltors.
uali
of Provl lo
It was Stated, the learnlng envlronment 15 hlghly Incluslve and nurturlng wlth chlld-centred,
well-maintained, and very purposeful learning resources, Including a well-equipped sensory
room and outdoor play space.
The conductors/teachers' plan learnlng for each Indlvldual pupll. It Is thorough, comprehensive,
and purp05eful, and Is monltored, revlewed and evaluated regularly through corroboratSve staff
meetings.
Furthermore, the resources used are well-planned, Imaginative and Ilnked closely to themes
and to the pupll's Indlvldual Interests.
The school is reported as Incluslve and has a highly posltlve ethos, addressln9 the educational,
physlcal and health and well-belng needs of the puplls.
The learning envlronment is highly incluslve and nurturing with chlld-centred, well-maintained,
and very purposeful learnlng resources, Includlng a well-equlpped Sensory Room and safe
poured rubber outdoor play space.
dershi
and
The teachlng Prlncipal and staff are hlghly skilled and apply conslstent high standards of
provision appropriate for the complex and wide range of learnlng and physical needs of the
pupils.
They continually self-evaluate and assess the progress made by the pupils as well as identifying
and sustaining areas of improvement across the school.
It was also reported that the board of trustees are highly committed to and support all aspects
of the school. They meet regularly and are very well informed about safeguarding and the
overall life and work of the school.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Pagc15

Budd Bear Trust
haritabl
om
Limit d b
uarant
DIRECTORS. REPORT for the
ear ended 31 Au
ust 2022
Continued
Inde
endent School Ins
ection
Continu
Safe
uardin
It was reported at the time of the inspection, the arrangements for safeguarding learners, take
account of and reflect, the guidance from the Department of Education.
It was concluded in the Inspection from the ETI that Buddy Bear Trust Conductlve Independent
School provides efficient and suitable instruction for the learners and that the school Is to
contlnue to be reglstered by the Department of Educatlon to provlde education.
Hi
hPr
it
The Dlrectors encouraged the Polltlcal Leaders and Senlor EA oflicials to visit the Independent
special school to understand why early interventlon Is Important In the life of a child with
cerebral palsy and the Impact It can have on the parents and extended family.
Sir Jeffrey Donaldson, Doug Beatie and Colum Eastwood were among the polltlclans and
counclllors to vlslt the school In the year.
We valued the vlslts as the Polltlclans could speak wlth authority about the beneflts of the
school.
The vlslts also relnforced the parents and let them know that thelr chlld was valuable.
er
om the
aln Polltlcal Partle
The Buddy Bear Trust contlnued to recelve letters of support from polltlcal partles and a Jolnt
Letter signed by the Political leaders of the 5 main parties, showing their continued support to
Buddy Bear Trust.
Along with previous letters received from all politlcal party leaders, Including Michelle O'Neill
(Vice Presldent of Slnn Féln) and Robln Swann MLA (Health Mlnlster for Northern Ireland), it is
clear to see the continued support for the work and care carried out by Buddy Bear Trust.
We are actively trying to secure a meetlng wlth the Secretary of State, the Minister of Education
and the Permanent Secretary of Northern Ireland to meet wlth the Trustees to dlscuss funding
arrangements and how the parents of chlldren attending the school should be asslsted.
in
Complete converting outdoor former toilet block into storage for blkes and mobility toys
Palnt decklng area
ms
or Next Year
Convert a Classroom (upstairs) to a tollet and changing bench and area
Convert other half of Classroom into a storage area
Make a promotional vldeo
Address Council about benefits of Buddy Bear Trust
Provide lift to access first floor
Employ two more Conductors as to meet needs of school and children
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page16

Budd Bear Trust
om
Limit d b Guar
nt
DIRECTORS, REPORT for the
ear ended 31 Au
ust 2022
Continued
Financial Review
Financial Performance
The charity earned net Incoming resources of £80,552 (2021
outgoing resources of £80,652)
in the year to 31 August 2022 and at the year end the total funds of the charity amounted to
£255,759 (2021 £175,207) comprising unrestrirted funds of £149,859 (2021 £66,540),
restrlcted funds of £5,900 (2021 £8,667) and a deslgnated reserve fund of £IOO,000 (2021
£ioo,000).
Prlnclpal sources of funding and how thls has supported the key objectlves of the charitable
company are disclosed In the notes to the financial statements.
Reserves Policy
The Buddy Bear Trust have a formal reserves pollcy and the trustees belleve there are sufficlent
funds to meet the needs of the charity for the medium term. As the charity is heavily reliant on
donations and fundlng from public bodles, the board belleve It Is Imperatlve to hold a slgnlflcant
level of reserves so that the charlty can continue to operate should there be any unexpected fall
in incoming resources.
structure, Governance and Management
Organisational Structure
The charitable company Is a company limited by guarantee, not havlng a share capital.
The charltable company was establlshed under a Memorandum of Assoclatlon whlch establlshed
the objects and powers of the charitable company and Is governed under St5 Articles of
Assoclatlon.
In accordance wlth the Artlcles of Assoclatlon, the members to retlre by rotatlon shall be those
who have been longest in office since their last election, and the relevant motion will be put at
the Annual General Meetlng. A retlrlng member shall be ellglble for re-electlon.
Directors
The Dlrectors durlng the year are the same a5 the Dlrectors as115ted on page 2.
Taxatlon Status
The charitable company is recognlsed as a charity by HM Revenue & Customs. Accordlngly, the
charitable company has avalled of the exemptlons contalned In Chapter 3 Part 11 Corporatlon
Taxes Act 2010 and Sectlon 256 Taxatlon of Chargeable Galns Act 1992.
Directors, Responslbllltles
The Directors are responsible for preparlng the financlal statements In accordance wlth
applicable law and United Kingdom Accountlng Standards (United Klngdom Generally Accepted
Accounting Practlce).
Company law requires the Directors to prepare financial statements for each financial year
which give a true and fair view of the state of the affairs of the charltable company and of the
Incoming resources and appllcatlon of resources, Includlng the income and expendlture, of the
charitable company for that year. In preparing these flnanclal statements the Dlrectors are
required to;
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP (FRS 102);
make judgements and 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; and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitable company will continue in operation.
CavanaghKellyR Chartered Accountants & Statutory Auditors
Page17

Budd Bear Trust
Limit d b Guarantee
DIRECTORS, REPORT for the
ear ended 31 Au
ust 2022
Continued
The Directors are responsible for keeping adequate accounting records that disclose with
reasonable accuracy at any time the financial position of the charitable company and enable
them to ensure that the financial statements comply with the Companies Act 2006. They are
also responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Small Companies Exemption
The above report has been prepared In accordance wlth the special provisions relating to small
companles wlthln Part 15 of the Companles Act 2006.
This report was approved by the Board of Dlrettors on 12 May 2023 and signed on its behalf
by:
Reglstered offlce:
Peto Centre
Killyman Road
Dungannon
Co. Tyrone
BT71 6DE
Brendan Mcconville
DIREcfoR
ra
ionN
er: N1022
li
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page18

Budd Bear Trust
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abl
imit db Gu
rant
INDEPENDENT EXAMINER'S REPORT to the members on the unaudited financial
statemen
of Budd Bear Trust for the
ear end
31Au
ust 2022
We report on the financial statements of the company for the year ended 31 August 2022 which
are set out on page5 11 to 23.
Respectlve Responsibilitie5 of Directors and Independent Examiner
As the charitable company's Directors, who are the trustees for the purpose of charity law, you
are responsible for the preparation of the financial statements In accordance with the
requirements of the Companies Act 2006. Having satisfied ourselves that the charitable
company is not subject to audit under company law, and Is eliglble for independent
examination, it Is our responslblllty to:
examine the accounts under sectlon 65 of the Charities Act (Northern Ireland) 2008.
follow the procedures laid down In the general Directlons given by the Charlty
Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern
Ireland) 2008; and
state whether partlcular matters have come to our attentlon.
Basls of Independent Examlner's Report
We have examlned your charltable company's financSal statements as requlred under sectlon 65
of the Charities Act (Northern Ireland) 2008 and our examlnatlon wa5 carried out In accordance
with the general dlrections given by the Charity Commlssion for Northern Ireland under section
65(9)(b) of the Charitles Act (Northern Ireland) 2008. The examlnatlon Included a revlew of the
accountlng records kept by the charltable company and a comparison of the accounts presented
wlth those records. It also Includes con51deration of any unusual Items or dlsclosures In the
accounts and seeklng explanatlons from you as charltable company Dlrectors concernlng any
such matters.
Our role Is to state whether any materlal matters have come to our attentlon glvlng us cause to
belleve:
That accountlng records were not kept In accordance wlth sectlon 386 of the Companles
Act 2006; or
That the accounts do not accord with those accountlng record5; or
That the accounts do not comply with the accountlng requirements of sectlon 396 of the
Companles Act 2006 and with the methods and principles of the Charities Statement of
Recommended Practlce appllcable to charitle5 preparing thelr accounts In accordance
with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland; or
That there Is further Informatlon needed for a proper understandlng of the accounts to
be reached.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page19

Budd Bear Tru
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om
Limited b Gu
rante
INDEPENDENT EXAMINER'S REPORT to the members on the unaudited fjnancial
statements of Budd Bear Trust for the
ear ended 31 Au
ust 2022
Continued
Independent Examiner's Statement
We have completed our examination and have no concerns In respert of the matters listed
above and, in connection with following the Directions of the Charity Commission for Northern
Ireland, we have found no matters that require drawing to your attention.
CAVANAGHKELLY
Chartered Accountants & Statutory Audltors
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP
Date: 12 May 2023
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page | 10

r£ u

Budd Bear Tru
haritabl
an
Limited b Guarantee
STATEMENT OF FINANCIAL POSITION as at 31 Au
ust 2022
Note
2022
2021
Non-current Assets
Propertyi Plant and Equlpment
Current Assets
Recelvables
Cash and cash equivalents
14,164
122 478
136,642
230 873
230,873
Payables: Amounts falllng due withln In one
year
10
Net current assets
216 563
129 997
Net Assets
11
255 759
175 207
REPRESENTED BY:
Unrestrlcted funds
Restricted funds
Deslgnated funds
Total Funds
12
12
12
149,859
5,900
loo 000
255 759
66,540
8,667
100 000
175 207
The Dlrectors, statements shown on the followlng page form part of thls Statement of Flnanclal
Posltlon.
CavanaghKellyA Chartered Accountants & Statutory Auditors
Page | 12

Budd Bear Trust
haritabl
om
Limit d b
rant
STATEMENT OF FINANCIAL POSITION as at 31 Au
ust 2022
Continued
These financial statements have been prepared in accordance with the provisions applicable to
small companies regime within Part 15 of the Companies Act 2006.
For the financial year ended 31 August 2022 the company was entitled to exemption from audit
under section 477 of the Companies Act 2006.
The Directors confirm that the members have not requlred the company to obtaln an audit of its
financial statements for the year in question in accordance with section 476 of the Companies
Act 2006.
The Directors acknowledge their responsibilities for ensuring that the charitable company keeps
accountlng records which comply wlth Sectlon 386. and for preparing financial statements
which glve a true and fair view of the state of affalrs of the charitable company as at the end of
the financial year and of Its incoming or outgoing resources for the financial year in accordance
wlth the requlrements of sectlons 394 and 395 and whlch otherwise comply wlth the
requlrements of the Companles Act 2006 relating to financlal statements, so far as appllcable to
the charltable company.
The notes on pages 14 to 23 form an Integral part of the flnanclal statements.
The financial statements were approved and authorlsed for Issue by the Board of Dlrectors on
12 May 2023 and slgned on thelr behalf by.
LL
Brendan Mcconvllle
DIRECTOR
Com
Charl
an
Re
Istratlon Number: N1022996
Re
1Stration Number: 104137
CavanaghKellyi Chartered Accountants & Statutory Auditors
Pago | 13

Budd Bear Trust
haritabl
om
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Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2022
I. GENERAL INFORMATION
Buddy Bear Trust is a charitable company limited by guarantee incorporated in Northern
Ireland. In the event of the charitable company being wound Upi the liability in respect of the
guarantee is limited to £1 per member of the charitable company. The address of the registered
office Is as shown on page l.
The charitable company constitutes a publlc benefit entity as defined by FRS 102.
The financial statements are stated In £ sterllng whlch Is the functional currency of the
charitable company.
2. ACCOUNTING POLICIES
The followlng accountlng pollcles have been applled conslstently in deallng with Items whlch are
consldered materlal In relatlon to the charitable company's financial statements.
2.1 statement of Compllance
The flnancial statements have been prepared in accordance with Accounting and Reporting
by
Charltes: Statement of Recommended Practlce (SORP) appllcable to charltles preparlng thelr
financlal statements in accordance with the Financial Reporting Standard applicable in the UK
and Republlc of Ireland (FRS 102) effectlve l January 2019 (Second Edltlon), the Flnanclal
Reportlng Standard appllcable In the Unlted Klngdom and Republlc of Ireland (FRS 102) and
the
Companles Act 2006.
2.2 Basls of Preparation
The flnanclal statements are prepared on a golng concern basls under the hlstorlcal cost
convention unless otherwise stated in the relevant accounting policy. Historical cost is
generally based on the falr value of the conslderatlon glven in exchange for assets.
2.3 Cash Flow Statement
The charltable company has applled Update Bulletin 2 as published on 5th October 2018
(effective l January 2019) and does not Include a cash flow statement on the grounds that it
is applying FRS 102 Section IA.
2.4 Income and Endowments
(l) Charitable Activities
Income from charitable activities includes income received under contract or where
entitlement to grant funding is subject to specific performance conditions. It is
recognised as earned as the related services or goods are provided. Grant income is
recognised in the Statement of Financial Activities when receivable. Grant income
included in this category provides funding to support projects and is recognised where
there is entitlement, certainty of receipt and the amount can be measured with sufficient
reliability.
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Budd Bear Trust
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NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2022
Continued
2. ACCOUNTING POLICIES (Continued)
2.4 Income and Endowments (Continued)
(11) Donatlons and Legacies
Donations and Legacy income includes incoming resources from gifts, donations and
grants and is recognised in full in the Statement of Financial Activities when receivable.
Activities for generating fund5 are commercial activities whlch are recogni5ed as earned
when the related goods and services are provided.
2.5 Expendlture
Expendlture Is recognSsed when a Ilablllty Is Incurred. Contractual arrangements and
performance related grants are recognlsed as goods and servlces are supplied. Where costs
cannot be dlrectly attrlbuted to a particular headingi they have been allocated to activities on
a basls conslstent wlth use of resources. Staff costs and overhead expenses are allocated to
activitles on the basis of staff time spent on those actlvltles.
(l) Charltable Actlvltles
Thls comprlses all the resources applled by the charltable company In undertaking Its
work to meet its charitable objectives. Charitable activities will Include the costs of
governance arrangements whlch relate to the general runnlng of the charltable
company.
2.6 Fund Accountlng
The charltable company has three types of funds for whlch It Is responsSble at the year end:
Unrestrlcted Funds
Funds whlch are expendable at the dlscretlon of the Dlrectors In
furtherance of the objectives of the charitable company. In addition, funds may be held
in order to finance capital investment and working capital.
Designated Funds
Monles whlch has been set aslde to cover costs should there be a
Significant and unforeseen reductlon In funding.
Restrlcted Funds - Monles received for speciflc purposes. Such purposes are wlthln the
overall aims of the charlty.
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Budd Bear Trust
om
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NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2022
Continued
2. ACCOUNTING POLICIES (Continued)
2.7 Propertyi Plant and Equipment and Depreciation
Propertyi plant and equlpment are initially recorded at cost. Cost includes the original
purchase price, costs directly attributable to bringing the asset to its working condition for its
intended use, dismantling and restoration costs and borrowing costs capitalised.
Depreclatlon 15 provlded at rates calculated to write off the cost less resldual value of each
asset over its expected useful life, as follows:
Office Furniture
School Equipment
Computer Equipment
Leasehold Improvements
150/0 Straight Line
250/0 Reduclng Balance
20010 Straight Line
40/0 Stralght Llne
2.8 Trade and Other Payables
Trade and other payables are Inltlally recognlsed at falr value and thereafter stated at cost.
2.9 Taxatlon
As a charlty, the charltable company Is not Ilable to Corporatlon Tax.
2.10 Cash and Cash Equlvalents
Cash and cash equlvalents Includes cash In hand, deposlts held at call wlth banks, other
short term hlghly Ilquld investments with original maturities of three month5 or less.
2.11 Crltlcal accountlng estlmates and Judgements
In the appllcatlon of the Charity's accounting policies, the Trustees are required to make
judgements, estimates and assumptlons about the carrylng value of assets and Ilabllltles that
are not readlly apparent from other sources. The estimates and associated assumptions are
based on hlstorlcal experlence and other factors that are considered to be relevant. Actual
results may differ from these estlmates.
The estimates and underlylng assumptlons are reviewed on an ongoing basis. Revisions to
accountlng estlmates are recognlsed In the period in which the estimate is revised were the
revlslon affects only that period, or in the period of the revlslon and future perlods were the
revision affects both current and future periods.
Crltlcal Judgements In applying the entity s accounting policies
There are no critical Judgements in applying the company's accounting policies.
Critical accounting estimates and assumptions
There are no accounting estimates in applying the company's accounting policies.
CavanaghKellyr Chartered Accountants & Statutory Auditors
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Budd Bear Trust
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NOTES TO THE FINANCIAL STATEMENTS
For
he
r ended 31 Au
ust 2022
Continued
2. ACCOUNTING POLICIES (Continued)
2.12 Financial Instruments
(i) Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances and
amounts owed by related partles and are initially recognised at transactlon prlce, unless the
arrangement constitutes a financing transaction, where the transaction is measured at the
present value of the future receipts discounted at a market rate of interest. Such assets are
subsequently carrled at amortised cost uslng the effectlve Interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed
for
objective evidence of Smpalrment. If an asset Is Smpalred the Impalrment loss Is the
difference
between the carrylng amount and the present value of the estlmated cash flows discounted
at the asset's origlnal effectlve Interest rate. The Impalrment loss Is recognlsed In profit or
loss.
If there Is decrease In the Impalrment loss arlslng from an event occurrlng after the
Impairment
was recognised, the Impairment Is reversed. The reversal Ss such that the current carrying
amount does not exceed what the carrylng amount would have been had the Impalrment not
prevlously been recognlsed. The Impa5rment reversal Is recognlsed In proflt or loss.
Flnanclal assets are derecognlsed when (a) the contractual rlghts to the cash flows from the
asset explre or are settled, or (b) substantlally all the rlsks and rewards of the ownershlp of
the asset are transferred to another party or (c) despite havlng retalned some significant
rlsks and rewards of ownershlp, control of the asset has been transferred to another party
who has the practlcal abllity to unllaterally sell the asset to an unrelated thlrd party wlthout
Imposlng additlonal restrictions.
(11) Flnancial Ilabllitles
Basic financial liabilities, includlng trade and other payables, bank loans and overdrafts and
amounts owed to related partles are Inltlally recognlsed at transactlon prlce, unless the
arrangement constltutes a financing transaction, where the debt instrument Is measured at
the
present value of the future receipts discounted at a market rate of interest. Debt instruments
are subsequently carried at amortised cost, using the effective interest rate method. Fees
paid on the establishment of loan facilities are recognised as transaction costs of the loan to
the extent that it Is probable that some or all of the facility wlll be drawn down. In this case,
the fee is deferred until the draw-down occurs.
To the extent there is no evidence that It Is probable that some or all of the faclllty will be
drawn
down, the fee is capitalised as a pre-payment for Ilquldity services and amortised over the
period of the facility to which it relates.
Trade payables are obligatlons to pay for goods or services that have been acquired in the
ordinary course of busine55 from suppliers. Accounts payable are cla55ified as current
liabilities if payment is due within one year or less. If not, they are presented as non-current
liabilities.
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Trade payables are recognised initially at transaction price and subsequently measured at
amortised cost using the effective interest method.
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2022
Continued
2. ACCOUNTING POLICIES (Continued)
Financial liabilities are derecognlsed when the Ilablllty Is extlngulshed, that Is when the
contractual obllgatlon is discharged, cancelled or expires.
(111) Offsettlng
Financial assets and Ilabilitles are offset, and the net amounts presented In the flnanclal
statements when there is a legally enforceable right to set off the recognised amounts and
there is an intention to settle on a net basis or to reallse the asset and settle the liabillty
simultaneously.
2.13 Penslon and other post retlrement obllgatlons
The charlty operates a deflned contrlbutlon penslon scheme whlch Is a penslon plan under
whlch
fixed contributlons are pald Into a penslon fund and the charity has no legal or constructive
obllgation to pay further contrlbutlons even If the fund does not hold sufficlent assets to pay
employees the beneflts relatlng to employee servlce In the current or prlor perlods.
Contributlons to defined contributlon plans are recognlsed In the Statement of Flnancial
Activitles when they are due. If contrlbutlon payments exceed the contributlon due for the
servlce, the excess Is recognlsed as a prepayment.
CavanaghKellyr Chartered Accountants & Statutory Auditors
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NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
t 2022
Continued
3. INCOME AND ENDOWMENTS
Unrestricted Restricted Designated
Funds
Funds
Funds
2022
2022
2022
Total
Funds
2022
Total
Funds
2021
Charitable Activities
Halifax Foundation for
Northern Ireland
Education and Library
Boards
Total Charitable
Activities
8,000
8,000
266
131,942
131,942
39,836
139,942
139,942
40,102
Income from Charitable Activities in the year ended 31 August 2021 of £40,102 was made up of
£266 restrlcted funds and £39,836 unre5trlcted funds.
Unrestricted Restrlcted Deslgnated
Funds
Funds
Funds
2021
2021
2021
Total
Funds
2021
Total
Funds
2020
Donatlons and Legacles
Donatlons
Community
Foundatlon
Mcclay Foundatlon
Covld 19 Grant
Furlough Grant
Edward Gostllne
Main Grants
Bally Thomas
Charitable Fund
Mld Ulster Councll
PHA Fund
Total Donations and
Legacies
43,080
100,000
43,080
100,000
21,566
25,000
100,000
11,826
100,000
11,826
67,982
41,591
10,000
250
250
2,324
255,156
255,156
173,463
Income from Donatlons and Legacies in the year ended 31 August 2021 of £173,463 was made
up of £173,463 unrestricted funds.
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Budd Bear Trust
Charitable Com
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Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2021
Continued
3. INCOME AND ENDOWMENTS (Cont'd)
Unrestrirted Restricted Designated
Funds
Funds
Funds
2022
2022
2022
Total
Funds
2022
Total
Funds
2021
Investment Income
Bank Interest
Recelvable
Total Investment
Income
165
165
194
165
165
194
Income from Investment Income In the year ended 31 August 2021 of É194 was made up of
entirely unrestricted funds.
4. RESOURCES EXPENDED
Unrestrlcted Restrlcted Deslgnated
Funds
Funds
Funds
2022
2022
2022
Total
Funds
2022
Total
Funds
2021
Charltable Actlvltles
Wages and salaries
Pension costs
Insurance
Llght and heat
Repalrs and
maintenance
Prlntlng, postage and
statlonery
Classroom expenses
Copler Rental
Telephone
Fundraising and
promotion costs
Accountancy
Bank charges
General expenses
Subscriptions
Depreciation of
propertyi plant and
equipment
Total Resources
Expended
220,088
41,479
4,490
10,500
6,599
220,088
41,479
4,490
10,500
6,599
176,641
44,546
8,368
6,166
10,769
1,075
1,075
1,262
4,151
1,958
1,246
1,383
4,151
1,958
1,246
1,383
22,533
1,900
1,273
1,408
8,418
118
5,390
597
4,452
8,418
118
5,390
597
7,219
6,971
138
3,290
570
8,576
2,767
311,944
2,767
314,711
294,411
Expenditure on Charitable Activities in the year ended 31 August 2021 of £294,411 was made
up £290,457 unrestrlcted expenditure and £3,954 restricted expenditure.
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Budd Bear Trust
om
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NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2021
Continued
5. NET INCOME/(EXPENDITURE) FOR THE YEAR
Net incomel(expenditure) is stated after charging/(crediting):
2022
2021
Depreciation of propertyi plant and equipment
7,219
8,576
6. INDEPENDENT EXAMINER'S REMUNERATION
The Independent examlner's remuneratlon amounts to an Independent examination fee of
£3,000 (2021- £2,912).
7. STAFF COSTS AND EMPLOYEE BENEFITS
The average number of persons employed by the charltable company durlng the year was 7
(2021 7).
The total staff costs and employee's benefits was as follows:
2022
2021
Wages and salarles (Includlng soclal securlty)
Pension costs
220,088
176,641
261 567
221 187
The charltable company has one employee who recelved total employee benefits (excludlng
employer penslon costs) of between £70,000 and £80,000 during the reportlng period.
7.1 DIRECTORS. REMUNERATION
The Dlrectors received nor walved any remuneratlon or any other benefits during the year and
no reimbursements of expenses Incurred.
CavanaghKellyi Chartered Accountants & Statutory Auditors
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Budd Bear Trust
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NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2022
Continued
8. PROPERTY, PLANT AND EQUIPMENT
Office
Furniture
School
Computer
Leasehold
Equipment Equipment Improvements
Total
Cost
At 31 August 2021
Additions
At 31 August 2022
30,242
46,636
38,348
1,204
39,552
28,623
143,848
1,204
145,052
30,242
46,636
28,623
Depreciatlon
At 31 August 2021
Charge for year
At 31 August 2022
29,711
287
33,014
31,573
4,339
98,637
105 856
Net Book Values
At 31 August 2022
244
At 31 August 2021
531
9. RECEIVABLES
2022
2021
Accrued Income
io.
PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
2021
Trade payables
Taxation and social security
Accruals
288
10,266
96
3,537
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haritabl Com
an
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NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2022
Continued
11. ANALYSIS OF NET ASSETS
Unrestricted Restricted Designated
Funds
Funds
Funds
2022
2022
2022
Total
Funds
2022
Total
Funds
2021
Property, Plant and
Equipment
Current Assets
Current Liabilities
33,296
5,900
39,196
45,210
130,873
100,000 230,873
136,642
149 859
100 000 255 759
175 207
12. ANALYSIS OF FUNDS
Openlng
Balance
Income
Expenditure
Transfer
Between
Funds
Closing
Balance
Cash for Klds
Restricted Funds
8,667
(2,767)
5,900
Unrestrlcted Funds
66,540
395,263
(311,944)
149,859
Deslgnated Funds
100,000
loo,000
Total Funds
175 207
395 263
314 711
255 759
CavanaghKellyi Chartered Accountants & Statutory Auditors
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