CavanaghKelly'
Company Registration Number: N1022996
Charity Registration Number: 104137
Buddy Bear Trust
(Charitable Company Limited by Guarantee)
Annual Report and Unaudited Financial Statements
For the year ended 31 August 2023

Budd Bear Trust
ritable Com
Limited
uaran
DIRECTORS. REPORT for the
ear ended 31 Au
ust 2023
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 2023.
The financial statements have been prepared in accordance with the Statement of
Recommended Practice "Accounting and Reporting by Charities" (FRS 102) and the Companies
Act 2006.
Reference and Administration Details
The reference and administration details of the charitable company are as shown on page 2.
Objectives and Activities
The principal activity of the charitable company is to relieve sickness of children suffering from
cerebral palsy, spina bifida and other motor neurone disorders.
The main strategic objectives of the Trust are:
To provide conductive education for children who suffer from cerebral palsy and other
motor disorders.
To become a 'mainstream" part of education and therapy for children suffering from
cerebra I palsy in Northern Ireland and to see greater integration of the existing services of
health and education for such children.
The key aims of Buddy Bear Trust are to allow young people to benefit from this life changing
therapy and develop their own optimum level of independence.
Public Benefit Statement
The Directors of Buddy Bear Trust confirm that they have complied with their duty under
section 4(6} of the Charities Act (Northern Ireland) 2008 to have regard to the Charity
Commission for Northern Ireland's guidance on public benefit and that the public benefit
requirement has informed the activities of the charitable company in the year ended 31 August
2022.
Achievements and Performance
Children with Cerebral Palsy at the Buddy Bear Trust Conductive Education School ("Buddy Bear
School") benefited from a team lead by the principal and three other Peto trained Conductors,
all of whom are registered with the General Teaching Council of Northern Ireland as well as two
experienced Classroom Assistants and a part-time Secretary. The Buddy Bear School was able
to offer places to 26 children in one of four main groups being:
Parent and Child Group (Pre-Nursery);
Nursery Group,.
School Group I; and
School Group 2.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page13

Budd Bear Trust
Charita
ecom
Limited b Guarantee
DIRECTORS. REPORT for the
ear ended 31 Au
ust 2023
Continued
Children at the Buddy Bear School made great progress under the guidance of the
Conductors/Teachers. 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 walking, while others used the mounted
wall bars in classrooms to pull themselves into a standing position and show new levels of
mobilityi all of which brought positive feedback from parents. One parent shared a quote with
us "We are so grateful that our child attends Buddy Bear. Even with the pandemic the care,
teaching sessions, progress and support he has received from the Buddy Bear team has been
incredible. It has been amazing to see progress so much in such a short space of time and has
filled us all with such hope and joy for the future.
Several children at the School were also able to make the transition to mainstream education at
local primary schools during the year on a full time or part-time basls.
Achievements and Performance in
ear
The Buddy Bear Trust continues to actively promote its five year 'Lifetime of Difference, project.
The project is being funded for the next three years from the National Lottery Community Fund
and the Mcclay Foundation. These vital funds serves as a platform but still leaves a shortfall for
the optimum running costs of the school which we need to supplement with government
funding and ongoing fund raising.
The Buddy Bear Trust continues to rely heavily on volunteers to assist in the day to day
operational running of the charity. Such volunteers are invaluable, and the charlty continues to
be grateful for their continued 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
appreciate their time and effort.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page14

Budd Bear Trust
Charit
ecom
an
Limited
Gu
rantee
DIRECTORS. REPORT for the
ear ended 31 Au
ust 2023
Continued
Ind
endent Scho
Ilns
tion
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 numeracy;
Whether the accommodation is suitable and meets health and safety standards.
The implementation of procedures for safeguarding and pastoral care.
The quality of leadership and management
The full inspection was carried out with findings and conclusions documented within an official
report of inspection; DE Ref No. IS59 to which key findings have been noted below.
Outcomes for Learners
The pupils all have complex physical difficulties arising from medical conditions, despite these,
they make steady progress in their physical, educational, communication and play skills targets.
A small number of parents and family members shared with the inspectors their highly positive
experiences of the school. They reported that their children are safe and very happy and
appreciate the ongoing support they receive from staff to increase their skills in helping their
children.
It was also reported that the pupils are very well settled and enjoy their routines and activities
in school and interact well with staff and visitors.
ualit of Provision
It was stated, the learning environment is highly inclusive and nurturing with child-centred,
well-maintained, and very purposeful learning resources, including a well-equipped sensory
room and outdoor play space.
The conductors/teachers' plan learning for each individual pupil. It is thorough, comprehensive,
and purposeful, and is monitored, reviewed and evaluated regularly through corroborative staff
meetings.
Furthermore, the resources used are well-planned, imaginative and linked closely to themes
and to the pupil's individual interests.
The school is reported as inclusive and has a highly positive ethos, addressing the educational,
physical and health and well-being needs of the pupils.
The learning environment is highly inclusive and nurturing with child-centred, well-maintained,
and very purposeful learning resources, including a well-equipped Sensory Room and safe
poured rubber outdoor play space.
Leadershi
and niana
ement
The leaching Principal and staff are highly skilled and apply consistent high standards of
provision appropriate for the complex and wide range of learning and physical needs of the
pupils.
They contlnually 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
Page15

Budd Bear Trust
Charitable Com
an
Limited b Guarante
DIRECTORS, REPORT for the
ear ended 31 Au
ust 2023
Continued
nt School Ins
ection
inued
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 Conductive Independent
School provides efficient and suitable instruction for the learners and that the school is to
continue to be registered by the Department of Education to provide education.
Hi
h Profile Visits to the School
The Directors encouraged the Political Leaders and Senior EA officials to visit the independent
special school to understand why early intervention is important in the life of a child with
cerebral palsy and the impact it can have on the parents and extended family.
The Hungarian Ambassador was among the politicians to visit the school in the year.
We valued the visits as the Politicians could speak with authority about the benefits of the
school.
The visits also reinforced the parents and let them know that their child was valuable.
Joint Letter of su
ort from the main Political Parties
The Buddy Bear Trust continued to receive letters of support from political parties and a Joint
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 political party leaders, including Michelle O'Neill
(Vice President of Sinn Fein) and Robin Swann MLA (Health Minister 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 meeting with the Secretary of Slate, the Minister of Education
and the Permanent Secretary of Northern Ireland to meet with the Trustees to discuss funding
arrangements and how the parents of children attending the school should be assisted.
General Maintenance
Converted a Classroom (upstairs) to a toilet and changing bench and area
Converted other half of Classroom into a storage area
Aim
f r Next Year
Address Councils about benefits of Buddy Bear Trust
Provide lift to access flrst floor
Employ two more Conductors as to meet needs of school and children
Add additional rubber flooring outside
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page16

Budd Bear Trust
Chari
able Com
Limited b Guarantee
DIRECTORS. REPORT for the
ear ended 31 Au
ust 2023
Continued
Financial Review
Financial Performance
The charity earned net incoming resources of £124,934 (2022
incoming resou rces of
£80,552) in the year to 31 August 2023 and at the year end the total funds of the charity
amounted to £380,693 (2022 - £255,759) comprising unrestricted funds of £168,868 (2022
£149,859), restricted funds of £11,825 (2022
£5,900) and a designated reserve fund of
£200,000 (2022 £100,000).
Principal sources of funding and how this has supported the key objectives of the charitable
company are disclosed in the notes to the financial statements.
Reserves Policy
The Buddy Bear Trust have a formal reserves policy and the trustees believe there are sufficient
funds to meet the needs of the charity for the medium term. As the charity is heavily reliant on
donations and funding from public bodies, the board believe it is imperative to hold a significant
level of reserves so that the charity 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 having a share capital.
The charitable company was established under a Memorandum of Association which established
the objects and powers of the charitable company and is governed under its Articles of
Association.
In accordance with the Artlcles of Association, the members to retire by rotation shall be those
who have been longest in office since their last election, and the relevant motion will be put at
the Annual General Meeting. A retiring member shall be eligible for re-election.
Directors
The Directors during the year are the same as the Directors as listed on page 2.
Taxation Status
The charitable company is recognised as a charity by HN Revenue & Customs. Accordingly, the
charitable company has availed of the exemptions contained in Chapter 3 Part 11 Corporation
Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Act 1992.
Directors. Responsibilities
The Directors are responsible for preparing the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
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 charitable company and of the
incoming resources and application of resources, including the income and expenditure, of the
charitable company for that year. In preparing these financial statements the Directors are
required to:
select suitable accountlng 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.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page17

Budd Bear Trust
Charitable
an
Limited b Gu
rante
DIRECTORS, REPORT for the
ear ended 31 Au
ust 2023
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 with the special provisions relating to small
companies within Part 15 of the Companies Act 2006.
This report was approved by the Board of Directors on 29 July 2024 and signed on its behalf
by:
Registered office:
Peto Centre
Killyman Road
Dungannon
Co. Tyrone
BT71 6DE
rtr￿￿tr
Mr Brendan Mcconville
DIRECTOR
Com
Chari
an
Re
istration Number: N1022996
Re
istration Number: 104137
Mrs Phyllis Agnew
DIRECTOR
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page18

Budd Bear Trust
Charitab
om
Limited
Guarantee
INDEPENDENT EXAMINER'S REPORT to the members on the unaudited financial
statements of Budd Bear Trust for the
ear ended 31 Au
ust 2023
We report on the financial statements of the company for the year ended 31 August 2023 which
are set out on pages 11 to 23.
Respective Responsibilities of Directors and Independent Examiner
As the charitable company's Directors, who are the trustees for the purpose of charity law, you
are responsib5e for the preparation of the financial statements in accordance with the
requirements of the Companies Act 2006. Having satisfied ourselve5 that the charitable
company is not subject to audit under cornpany law, and is eligible for independent
examination, It is our responsibility to:
examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
follow the procedures laid down in the general Directions given by the Charity
Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern
Ireland) 2008. and
state whether particular matters have come to our attention.
Basis of Independent Examiner's Report
We have examined your charitable company's financial statements as required under sectlon 65
of the Charities Act (Northern Ireland) 2008 and our examination was carried out in accordance
with the general directions given by the Charity Commission for Northern Ireland under section
65(9)(b) of the Charities Act (Northern Ireland) 2008. The examination included a review of the
accounting records kept by the charitable company and a comparison of the accounts presented
with those records. It also includes consideration of any unusual Items or disclosures in the
accounts and seeking explanations from you as charitable company Directors concerning any
such matters.
Our role is to state whether any material matters have come to our attention giving us cause to
believe:
That accounting records were not kept in accordance with section 386 of the Companies
Act 2006; or
That the accounts do not accord with those accounting records; or
That the accounts do not comply with the accounting requirements of section 396 of the
Companies Act 2006 and with the methods and principles of the Charities 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. or
That there is further information needed for a proper understanding of the accounts to
be reached.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page19

Budd Bear Trust
Chari
ble Com
an
Limited
Guar
ntee
INDEPENDENT EXAMINER'S REPORT to the members on the unaudited financial
statements of Budd Bear Trust for the
ear ended 31 Au
ust 2023
Continued
Independent Examiner's Statement
We have completed our examination and have no concerns in respect 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 Auditors
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP
Date: 29 July 2024
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page | 10

O) ¢2
m N o)
Ln Q
(£ u

Budd Bear Trust
Charitable Com
Limi
rantee
STATEMENT OF FINANCIAL POSITION as at 31 Au
ust 2023
Note
2023
2022
Non-current Assets
Property, Plant and Equipment
35,815
39,196
Current Assets
Receivables
Cash and cash equivalents
45,907
316,304
362,211
230,873
230,873
Payables: Amounts falling due within in one
year
10
Net current assets
344 878
216 563
Net Assets
11
380,693
255,759
REPRESENTED BY:
Unrestricted funds
Restricted funds
Designated funds
Total Funds
12
12
12
168,868
11,825
200 000
380 693
149,859
5,900
100 000
255 759
The Directors, statements shown on the followlng page form part of this Statement of Financial
Position.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page | 12

Budd Bear Trust
Charitable C
an
Limited b Guarant
STATEMENT OF FINANCIAL POSITION as at 31 Au
ust 2023
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 required the company to obtain 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
accounting records which comply with Section 386. and for preparing financial statements
which give a true and fair view of the state of affairs 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
with the requirements of sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, so far as applicable to
the charitable company.
The notes on pages 14 to 23 form an integral part of the financial statements.
The financial statements were approved and authorised for issue by the Board of Directors on
29 July 2024 and signed on their behalf by:
Brendan Mcconville
DIRECTOR
Phyllis A
DIRECTOR
Com
hari
an
Re
istration Numb
r: N1022
istrati
nNum
er: 104137
96
CavanaghKelly, Chartered Accountants & Statutory Auditors
Page | 13

Budd Bear Trust
Charitable Com
Limite
Guaran
ee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2023
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 up, 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 public benefit entity as defined by FRS 102.
The financial statements are stated in £ sterling which is the functional currency of the
charitable company.
2. ACCOUNTING POLICIES
The following accounting policies have been applied conslstently in dea ling with items which are
considered material in relation to the charitable company's financial statements.
2.1 Statement of Compliance
The financial statements have been prepared in accordance with Accounting and Reporting
by Charites: Statement of Recommended Practice (SORP) applicable to charities preparing
their financial statements in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FRS 102) effective l January 2019 (Second Edition), the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS
102) and the Companies Act 2006.
2.2 Basis of Preparation
The financial statements are prepared on a going concern basis under the hlstorical cost
convention unless Otherwise stated in the relevant accounting policy. Historical cost is
generally based on the fair value of the consideration given in exchange for assets.
2.3 Cash Flow Statement
The charitable company has applied 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
(i) 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.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page | 14

Budd Bear Trust
Charitabl Com
an
Limited b Guar
ntee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2023
Continued
2. ACCOUNTING POLICIES (Continued)
2.4 Income and Endowments (Continued)
(li) Donations and Legacies
Donations and Legacy income includes incorning resources from gifts, donations and
grants and is recognised in full in the Statement of Financial Activities when receivable.
Activities for generating funds are commercial activities which are recognised as earned
when the related goods and services are provided.
2.5 Expenditure
Expenditure is recognised when a liability is incurred. Contractual arrangements and
performance related grants are recognised as goods and services are supplied. Where costs
cannot be directly attributed to a particular headingi they have been allocated to activities on
a basis consistent with use of resources. Staff costs and overhead expenses are allocated to
activities on the basis of staff time spent on those activlties.
(i) Charitable Activities
This comprises all the resources applied by the charitable company in undertaking its
work to meet its charitable objectives. Charitable activities will include the costs of
governance arrangements which relate to the general running of the charitable
company.
2.6 Fund Accounting
The charitable company has three types of funds for which it Is responsible at the year end:
Unrestricted Funds
Funds which are expendable at the discretion of the Directors 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
Monies which has been set a51de to cover costs should there be a
significant and unforeseen reduction in funding.
Restricted Funds
Monies received for specific purposes. Such purposes are within the
overall aims of the charity.
CavanaghKelly, Chartered Accountants & Statutory Auditors
Page | 15

Budd Bear Trust
Charitable Com
Limi
ntee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2023
Continued
2. ACCOUNTING POLICIES (Continued)
2.7 Propertyy Plant and Equipment and Depreciation
Property, plant and equipment 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.
Depreciation is provided at rates calculated to write off the cost less residual 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 Reducing Balance
200/0 Straight Line
40/0 Straight Line
2.8 Trade and Other Payables
Trade and other payables are initially recognised at fair value and thereafter stated at cost.
2.9 Taxation
As a charity, the charitable company is not liable to Corporatlon Tax.
2.10 Cash and Cash Equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other
short term highly liquid investments with original maturities of three months or less.
2.11 Critical accounting estimates and judgements
In the application of the Charity's accounting policies, the Trustees are required to make
judgements, estimates and assumptions about the carrying value of assets and liabilities that
are not readily apparent from other sources. The estimates and associated assumptions are
based on historical experience and other factors that are considered to be relevant. Actual
results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revlsed were the
revision affects on ly that period, or in the period of the revision and future periods were the
revision affects both current and future periods.
Critical judgements in applying the entity s accounting policies
There are no critical judgements in applying the company's accounting policles.
Critical accounting estimates and assumptions
There are no accounting estimates in applying the company's accounting policies.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Pagel 16

Budd Bear Trust
Chari
le Com
Limited b G
rantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2023
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 parties and are initially recognised at transaction price, 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 carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed
for objective evidence of impairment. If an asset is impaired the impairment loss is the
difference between the carrying amount and the present value of the estimated cash flows
discounted at the asset's original effective interest rate. The impairment loss is recognised in
profit o r loss.
If there is decrease in the impairment loss arising from an event occurring after the
impairment was recognised, the impairment is reversed. The reversal is such that the
current carrying amount does not exceed what the carrying amount would have been had
the impairment not previously been recognised. The impairment reversal is recognised in
profit or loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the
asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of
the asset are transferred to another party or (c) despite having retained some significant
risks and rewards of ownershipi control of the asset has been transferred to another party
who has the practical ability to unilaterally sell the asset to an unrelated third party without
imposing additional restrictions.
(li) Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and overdrafts and
amounts owed to related parties are initially recognised at transaction price, unless the
arrangement constitutes 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 will 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 facility will be
drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over
the period of the facility to which it relates.
Trade payables are obligations to pay for goods or services that have been acquired in the
ordinary course of business from suppliers. Accounts payable are classified as current
liabilities if payment Is due within one year or less. If not, they are presented as non-current
liabilities.
Trade payables are recognised initially at transaction price and subsequently measured at
amortised cost using the effective interest method.
CavanaghKelly, Chartered Accountants & Statutory Auditors
Page | 17

Budd Bear Trust
Chari
ble Com
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2023
Continued
2. ACCOUNTING POLICIES (Continued)
Financial liabilities are derecognised when the liability is extinguished, that is when the
contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset, and the net amounts presented in the financial
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 realise the asset and settle the liability
simultaneously.
2.13 Pension and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under
which fixed contributions are paid into a pension fund and the charity has no legal or
constructive obligation to pay further contributions even if the fund does not hold sufficient
assets to pay all employees the benefits relating to employee service in the current or prior
periods.
Contributions to defined contribution plans are recognised in the Statement of Financial
Activities when they are due. If contribution payments exceed the contribution due for the
service, the excess is recognised as a prepayment.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page | 18

Budd Bear Trust
Ch
ritable
an
Limited b
aran
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2023
Continued
3. INCOME AND ENDOWMENTS
Unrestricted Restricted Designated
Funds
Funds
Funds
2023
2023
2023
Total
Funds
2023
Total
Funds
2022
Charitable Activities
Halifax Foundation for
Northern Ireland
Education and Library
Boards
The Pathway Fund
Total Charitable
Activities
10,500
10,500
8,000
125,605
125,605
120,275
5,833
141,938
5,000
5,000
10,833
146,938
11,667
139,942
Income from Charitable Activities in the year ended 31 August 2022 was made up entirely of
unrestricted funds.
Unrestricted Restricted Designated
Funds
Funds
Funds
2023
2023
2023
Total
Funds
2023
Tota I
Funds
2022
Donations and Legacies
Donations
Community
Foundation
Mcclay Foundation
Covid 19 Grant
Mid Ulster Council
Total Donations and
Legacies
13,677
125,900
8,000
21,677
125,900
43,080
100,000
loo,000
loo,000
loo,000
11,826
250
255,156
241,577
8,000
249,577
Income from Donations and Legacies in the year ended 31 August 2022 was made up entirely
of unrestricted funds.
CavanaghKelly, Chartered Accountants & Statutory Auditors
PagL | 19

Budd Bear Trust
haritable Com
an
Limi
rantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2023
Continued
3. INCOME AND ENDOWMENTS (Cont'd)
Unrestricted Restricted Designated
Funds
Funds
Funds
2023
2023
2023
Total
Funds
2023
Total
Funds
2022
Investment Income
Bank Interest
Receivable
Total Investment
Income
1,080
1,080
165
1,080
1,080
165
Income from Investment Income in the year ended 31 August 2022 of £165 was made up of
entirely unrestricted funds.
4. RESOURCES EXPENDED
Unrestricted Restricted Designated
Funds
Funds
Funds
2023
2023
2023
Total
Funds
2023
Total
Funds
2022
Charitable Activities
Wages and Salaries
Pension costs
Rates and water
Insurance
Light and heat
Repairs and
maintenance
Printing, postage and
stationery
Classroom expenses
Copier Rental
Telephone
Fundraising and
promotion costs
Accountancy
Bank charges
General expenses
Subscriptions
staff Training
Depreciation of
propertyi plant and
equipment
Total Resources
Expended
199,748
4,013
1,281
8,730
11,237
14,944
5,000
204,748
4,013
1,281
8,730
11,237
14,944
220,088
41,479
4,490
10,500
6,599
727
727
1,075
2,370
2,096
1,436
1,748
2,370
2,096
1,436
1,748
4,151
1,958
1,246
1,383
8,146
115
3,844
472
50
4,629
8,146
115
3,844
472
50
6,704
8,418
118
5,390
597
2,075
7,219
265,586
7,075
272,661
314,711
Expenditure on Charitable Activities in the year ended 31 August 2022 of £314,711 was made
up £311,945 unrestricted expenditure and £2,766 restricted expenditure.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Pagc | 20

Budd Bear Trust
Chari
le
an
Limited
Gu
rantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2023
Continued
5. NET INCOME/(EXPENDITURE) FOR THE YEAR
Net income/(expenditure) is stated after charging/(crediting}:
2023
2022
Depreciation of property, plant and equipment
6. INDEPENDENT EXAMINER'S REMUNERATION
6,311
7,219
The independent examiner's remuneration amounts to an independent examination fee of
£3,150 (2022 £3,000).
7. STAFF COSTS AND EMPLOYEE BENEFITS
The average number of persons employed by the charitable company during the year was 7
(2022 - 7).
The total staff costs and employee's benefits was as follows:
2023
2022
Wages and salaries (including social security)
Pension costs
204,748
220,088
208 761
261 567
The charitable company has one employee who received total employee benefits (excluding
employer pension costs) of between £70,000 and £80,000 during the reporting period.
7.1 DIRECTORS, REMUNERATION
The Directors received nor waived any remuneration or any other benefits during the year and
no reimbursements of expenses incurred.
CavanaghKelly, Chartered Accountants & Statutory Auditors
Page121

Budd Bear Trust
Charitable
Limited
Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2023
Continued
. PROPERTY, PLANT AND EQUIPMENT
Office
Furniture
School
Equipment
Computer
Leasehold
Equipment Improvements
Tota I
Cost
At 31 August 2022
Additions
At 31 August 2023
30,242
3,323
33,565
46,636
39,552
28,623
145,053
3,323
148,376
46,636
39,552
28,623
Depreciation
At 31 August 2022
Charge for year
At 31 August 2023
29,998
590
36,420
33,955
5,484
105,857
112 561
Net Book Values
At 31 August 2023
2,977
3,182
35,815
At 31 August 2022
244
10,216
5,597
23,139
39,196
9. RECEIVABLES
2023
2022
Accrued Income
48,907
io.
PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Trade payables
Taxation and social security
Accruals
632
12.027
4,674
288
10,266
3,756
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page | 22

Budd Bear Trust
Chari
ble Com
an
Limi
rantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 Au
ust 2023
Continued
11. ANALYSIS OF NET ASSETS
Unrestricted Restricted Designated
Funds
Funds
Funds
2023
2023
2023
Total
Funds
2023
Total
Funds
2022
Property, Plant and
Equipment
Current Assets
Current Liabilities
31,990
3,825
35,815
39,196
154,211
8,000
200,000
362,211
230,873
168,868
200,000
380,693
255 759
12. ANALYSIS OF FUNDS
Opening
Balance
Income
Expenditure
Transfer
Between
Funds
Closing
Ba lance
Cash for Kids
The Pathway Fund
Lift Appeal
Restricted Funds
5,900
(2,075)
(5,000)
3.825
5,000
8,000
13,000
8,000
11,825
5,900
{7,075)
Unrestricted Funds
149,859
384,595
(265,586) (100,000)
168,868
Designated Funds
loo,000
loo,000
200,000
Total Funds
255 759
397 595
272 661
380 693
Cash for Kids
This was funding received towards the cost of installing outdoor play equipment for children
with complex needs.
The Pathway Fund
This project is supported by The Pathway Fund which is administered by Early Years
the
organisation for young children and funded by the Department of Education. This funding was
for the provision of 6 children with complex needs and to facilitate parent workshops.
Lift Appeal
This was donations received for the purpose of installing a lift on the Buddy Bear premises.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page | 23