Btythswood freland Limited Statement of Financial Activities for the Year Ended 31 December 2023 neluding Income and Expendithre Account and Statement of Total Recognised Gains and L0&5es) Total 2023 Unrestrieted Restricted Note Income aDd Endowments from: Donation5 and legacies Charitabl¢ activittes Other trading activities Other income 44,852 12,849 1.062,162 50 355 45,207 12,849 1.062,162 50 Total Income 1 119913 355 68 Expenditure on. RaAsiDg funds Charitable activities (880,645) (880,645) 207 203 355 Total Expendirure 1087 493 355 1087 848 Net income Net movement in funds 32,420 32,420 Reconciliation of funds Total fimds brought forward Totsl funds carried forward 21 1005,489 1005 489 The not¢s on pages 16 to 29 forni an Integr part of these financial ststements. Page 12
Btythswood Ireland Limited Statement of Financial Activities for the Year Ended 31 December 2023 neluding Income and Expendlture Account and StateDAent of Totsl Reeognised Gains and Loss£s) Prior Year 2022 Unrestricted funds Total 2022 Restrieted fvnds Nots Ineome and Endowments froDI: Donations and legacies Charitable activitAes Other trading activities Other incoDJe 31,336 11,753 1,019,057 864 74,468 11,753 1,019,057 864 Total income 1063 010 106 142 Expenditure on: RaA5ing fimds CharAtable activities (784,172) (4,985) (789.157) 158 128 Total expenditure 899 168 947 Net incomel{expenditure) Net movement in fi]nds 158 857 l63.842 (4,985) 158,857 Reconclllatlon of funds Total fuods brought forward 809 814 12 Totsl funds carried forward 21 973 069 A]1 of the charity's activAties derive fmm continuing operatiODS during the aix)ve two periods. The fimds breakdown for 2021 is shown in 21. The notes on pag¢s 16 to 29 forni an Inteal part of these finallciaK sratements. Page 13
Btythswood Ireland LiDJited (Reglstrntion number: N1050683) Balance Sheet as at 31 December 2023 2023 2022 Note Fixed assets Tangible assets 14 695,261 71J223 Current assets Stocks D¢btors C&%h aÉ bank and in hand 15 ,271 34,639 417622 453,532 1.290 30,919 412 778 444,987 16 17 Creditors: Amounts falling due wlthin one year 18 126 682 120 288 Net Current assets 326.850 Total a&8ets less eurrent Ilabilitles 1,022,111 1.037,922 Creditors: Amounts falling due 8fter more thAn one year 19 Net assets 1.005 489 Funds of the charity: Unrestri¢ted ineome funds UDrestri¢ted funds 1005 489 973 069 Totsl funds 21 I1)05.489 973 069 The financial statements on pages 12 to 29 were approved by the Ite¢s, and authorised for issue on 4 June 2024 and sigoed on their behalf by: Mr JM Campbell Trustee The notes on pag¢$ 16 to 29 form an integral part of these fin8CIal statements. Page 14
Btythswood Ireland Limited Statement of Cash Flows for the Year Ended 31 December 2023 2023 2022 Note Cash flows from operating activities Net cash income 32,420 158,857 Adjustments to cash flows froln non-cash items Depreciation Loss on disposal of f¢d assets held for the cbaritys own llse 45,424 30.408 80,040 187,640 Working ¢apttal adjustments Decrease in stocks Oncr¢ase}Idecre&8e in debtors Increase in creditors 15 16 18 19 (3,720) 1,736 Net cash flows from operating activities 203 099 Cash llows from fnvesting 8Ctivlties Purchase of taugible fixed &ssets Salt of tangible fixed assets Net cash flows from investing activities 14 (29,659) (69,770) (29,658) (65.770) Cosh flows from fmanciDg aetiviti¢s Repayment of loans and borrowings Net io¢rease in cash and cash equivalents 18 4,844 83,024 Cash and cash equivalents at i January Cash and cash equivalents at 31 December 412 778 329 754 417 622 412 778 ARI of the cash flows are derived from continulng operatioos during the above two periods. The notes on pages 16 to 29 fonn aD Inte part of these financial statements. 15
Btythswood Ireland Limited Notes to the Finantial Statements for the Year Ended 31 December 2023 I Charity ststus The charity is limited by guarantee, incorporated in Northern Jreland, and consequently does not have share capital. Each of the trustees is liable to c(Intribute an amount not ¢xc¢ediDg £1 toH'ar<Ls the a&s¢ts of the charity in the event of liquidation. The address of its register¢d Offi Is: 93 Templepatri¢k Road Bally¢lare Co Antiim BT39 9RQ These fmancial statements were authorised for issu¢ by the tswste¢s on 4 June 2024. 2 Ac¢ounting policies Summary of significant a¢eounting polleies aDd key actOUDtlng estimotes The principal accounting policie5 applied in tbe Preparation of thes¢ fmancial stst¢ments are set out below. These policies have been conststently appli to 411 the years PTesente4 unless otherwise stated, Statement of eompliaDte The financial statements have been prepared in accordance with Accounting and Reporting by Clwities: Statement of Recommended Pracli¢e (applicable to charities preparing their accounts in accordance with the FAnancial Reporting Standard applicable in the UK and Republic of treland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the FAnancial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) al th¢ Companies Act 2006. Basis of preparatloTr Blythswood Ireland Limtted meets the definition of a public l*nefit entity under FRS 102. Assets liabilities are initially recognised at historical cost or trdnsaction value unless otherwise stated in the relevant accounting policy notes. Going concern The trustees consider tlkat there ar¢ no mater uncertainties about the charity's ability to Continue &$ a going ¢oncern nor any significant areas of uncertaiDty that affect the carrying value of a&8ets held by the clwlty. Judgements In the application of the Charity's accounting policies, trustees 8re required to make Judgements regarding the nwket value of specific donated items which are recognised in the statement of financial activities. These judgements are based on the ¢stirnated market values of the equipment aad goods. The judgements are reviewed on an ongoing basis. Income and endowments All income is reco11 once the cbarity has entitlement to the income. it is probable that the income will be received and the atnount of the in¢ome receivable can be measml r¢Eiably. Page 16
Btytbswood Ireland Limited Notes to the Finaneial Statements for the Year Ended 31 December 2023 DonaÉloMs and legdcles Donations are TognISed when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to ¢(Trnditions that require a level of perfornlance by the charity before the charity Is entitled to the funds, the income is deferred and not recognised until either those Conditions are fully m¢t, or the fulfilment of those conditiODS is wholly within the control of the charity and it is probable that t1¢ conditions will be fvlfilled in tbe reporting period. Expenditure Ralsingfuy Tliese are costs incurred in attracting voluntary iD¢ome, the management of inv¢sttDents and those In¢Ted in trading adivities that raise fAmds. Charltable actlvities Charitable expenditure comprises those costs incurred by the chority in the delivery of its activities and services for its beneficiaries. It includes both costs that Can b¢ allocated directly to such activities and those costs of an indirect JJatur¢ necessary to support thern. Support costs Support Costs include central functions and bave been allo¢atsd to activity cost ¢ategories on a basis ¢onsistent with the use of resources, for exampl¢, allocating propety costs by floor areas, or per capity Staff ¢osts by the time Spent and other Costs by their usage. Governance costs These include the costs attnTr)utable to the charity's conwliance with constitutional and statutory requirements, including audit, strategic management and trustees medings and relmbursed expenses. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Financ¢ Act 2010 and therefore it meets the deflliition of a ¢baritable company for UK corporation tsx putposes. Ac¢ordingly, the charity is potentially exempt from tsxation in respect of incom¢ or capital gains r¢ceived witbiti categories covered by Chapter 3 Part I l of the Corpordtion Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Art 1992, to the extent that such income or gains are applied exclusively to Clwitable PUTposes. Tangible fixed assets ndivldual fixed assets Costing £100.00 or More are initia]Iy Tecorded at cosL Depreciatlon and Amortisation Depreciation És provided on tangible fixed assets so as to TIte off the cost or Valuatio less any estimated residual value, over their expected useful economic life as follows: Pag¢ 17
Btythswood Ireland Limited Notes to the Financial Statements for the Year Ended 31 December 2023 At ¢12ss Freehold property Leasehold propety Furniture and equipment Motor vebicles Depreciation methi)d and rate Straight line over fifty years 10 /0 Reducing balance 250/0 R¢ducing balance 250/0 Reducing balan Impairment of fixed 8&8ets Assets not carried at fair value are atso reviewed for impainnent whenever events or thang¢5 in circumstances indicate that the cawing amount rnay not be recoverable. An inwairnt loss is re¢ognised for the amount by which the asset's caitig amount exceeds its recoverable amounL The recoverable amount is the higher of an asset's fair value less costs to sell and value in use, Value in use is defined as the present value of the fllkne wtrtax and Interest rash flows obtainable as a result of the asset's continued use. The pre-tax and inter¢st cash flows are discounted using a pre-tax discount rate that represents the current nwket rigk free risk and the risks illberent in tbe asset. For the purposes of &ssessing impainDenL assets are wuped at the lowest levels for which there are sq)arately identifiable c&8h flows (cash-generating units). If the recoverable amount of th¢ asset (or asset's cash generating unit) is estinwted to be lower than the canyll amount, the carrying amount is reduced to its recoverable amounL An impairnient loss is recognlsed in the statement of fin&acAal activAties. Sto¢k Stock is valued at the lower of cost and estin)ated selling prir2 less costs to complete and seJL after due regard for obsolete and slow-moving stocks. Cost is detrmiiDed usiog the fff*-in, first-out (FIFO). Trade debtors Trade debtors are amounts due from Customm for merchandise sold or services perfoThed in the ordinary course of business, Trade debtors are recOlS¢d initially at the transaction price. They are subsequently measured at amortised cost USiE]g tbe effective interest methrf less provision for impairnienL A provision for the impairn)ent of trade debtors is established when there is obje¢tive evidence that the charity will not b¢ able to collect all amounts due according fo the original tern]s of the Teceivabl¢& Cash and eash equivalent8 Cash and cash equivalents Comprise cash on hand and call deposits and other short-t¢m highly liquid investments that are readily conTrerttl>l¢ to a kDown amount of cash alld are Subject to an iDsigDificant risk of change in value. Page 18
Btythswood Ireland Limited Notes to the Financial Statements for the Year Ended 31 December 2023 Trade credltors Trnde creditors are obligations to pay for goods or services that bave been acquired in th¢ ordinary course of business from supplicrs. Accounts payabl¢ are classified as cunmt liabilities if the charity does not have an unconditional right, at the end of the reporting perio4 to defer settlement of the creditor for at least twelve months after the r¢porting date. If there is an uncondxtional right to defer settlement for at least twclv¢ months after the reporting dat¢, they are presented as non4uffeni liabilities. Trade edItorS are recogni5ed initially at the transaction price and $ubs¢quently measured at amortised cost using the effective interest methL Borrowings Interest-beartng borrowings are initially recorded aÉ faiT value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised COK with the dthrence between the proce¢d¥ net of transaction cosls, and the amount due on reden)Ption being recolsed as a charge to the Statement of Financial Activities over the period of the relevaDt borrowing. Interest expense is retogDised on the basis of the effective interest method aud 15 included in interest payable and similar charges. Borrowings are classified &8 current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelv¢ months after the reporting date. Fund structure Unrestricted incorne fimds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the cbarity. Restricted income funds are those donated for use in a particular area or for spe¢ific purposes, the se of which is restrxcted to that area or prys¢. Pensions and other post retlrement obllgations The charAty operates a defined contribution pensioD scheme which is a pension plan under which fixed contributions are paid into a p¢nston fund and the chlty has no legal or constrnctive obligation to pay fiwther ¢ontributÉons even if the fund does not hold suificient assets to pay all employees the InefitS relating to employee service in the current and prior periods. Contributions to defined conthl)ution plans are recognised iu the Statement of Firtancial Activities when they are due. If CODtrAbution pa)Thents exceed the contribution due for service, the exc is recognised as a prepayment Financial instruments Classificatlon Financial assets and financial liabiliti¢s are reColS¢d when the clthrity becomes a party to the contractual provisi<ms of the iostrwnent. Financial liabilities and equity iostrwnents are cl&ssified according to the substance of th¢ contractual arngements entered info. An equity instrument is any conts7Ct that evidences a Tesidual interest in the assets of the charity after deductÉug all of its liabilittes. Page 19
Btythswood Ireland Limited Notes to the Financial Statements for the Year Ended 31 December 2023 ReeogAllion and measuremenl All flllancial Lssets and liabilities are initially measured at transaction price (including transaction costs), except for those fU]CIal assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding traJsaction costs), unless the aTr&ngement constithtes a financing transaction. If an arrdngement constitutes a financing transaction, the financial asset or financial liability is measured at th¢ present value of the futur¢ payments discounted at a maTket rate of interest for a similar debt instniment. Financial assets and liabilities are only offset in the stateroent of fiDancial position when, and onty wheD there exists a legally enforceable right to set off the recognised amounts and the charty intents either to settle on a net basts, or to realAse the asset and settle th¢ liabiirty simultaneously. Financial assets are derecognised when and onty when a) the contractual rights to the cash flows from the fLnancial asset expire or are settlrf b) the charity transfers to another party substantialty ali of the risks and rewards of ownership of the fmancial asse¢ or c) the charity, despi* having retained some, but not akL significant risks and rewards of ownership, has transferred control of th¢ asset to another party. Financial liabilities are derecognised Only when the obligation specified in the contract is discharge(L cancelled or expir¢s. Falr value measMremen¢ The best evidence of fair value is 8 quoted price f(x an ideoticttl asset in an tive market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstaDces or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of aD identical wet oa their own are not a good estiniate of fair value, the fair value is estinmted by using a valuation technique. 3 Ineome from donations legaeles Unrestrieted fund$ GenerAI Re5Éricted funds Total 2023 Total 2022 Donations and legacies; Donations from individuals Gift aid reclaimed 21,872 355 22,227 60,991 44,852 355 45 07 Page 20
Btythswood Ireland Limited Notes to the Financial Statements for the Year Ended 31 December 2023 4 Ineome from eharitsble aetivities funds General Total 2023 Totsl 2022 Supply of goods and services 12,849 5 Income from otber trading aetivitfres UDrestrlcted funds General Total funds Trading income; Shop income from sale of donated gwds and servlces Property rental income 1,060,122 1,060,122 Totsl for 2023 1062 162 1062 162 Total for 2022 1019057 l 019 057 6 Expenditure on rslsing funds Costs of trading activlties Uurestricted Total 2023 Total 2022 Genernl Nots Fwidraising tradllig costs. Fundraising Costs of goods sold Depreciation, amortisation and other sirniIar costs 143,496 1,875 143,496 1.875 128,616 773 47,620 47.620 28,784 Other direct costs of activities for generating funds Allocated support costs 83,804 603.850 83,804 603 850 880,645 86,041 789 L57 Page 21
Blythswood Ireland Limited Notes to the Financial Statements for the Year Ended 31 December 2023 7 Exp¢ndiÉure on eharitabk actfvities Unrtstrlcted funds General Restrieted fuDds Total 2023 Tot21 2022 Note Overseas Aid Staff costs Allocated stEPPOrt ¢osts Governance costs 149,020 47,406 355 149,375 47,406 109,919 39,296 7,422 7.422 6,288 206,848 355 207 203 158 128 n addition the expenditure analysed above, there are also governance costs of £3.000 (2022 - £2,625) which relate dir¢ctly to charitable activities. See note 8 for further details. Page 22
Btythswood Ireland Limited Notes to the Financial Ststsments for the Year Ended 31 December 2023 8 iknalysis of goyernanee and $upport costs Support costs allocated to ra151ag funds Admillistratio Otber support n costs Total funds Staff costs Basis of 8llocatlOD Costs of tradiug aetivities 555,947 611597 Total for 2023 555 947 38,951 Total for 2022 19.690 20 38 Support costs 811ocated to eharitsble activlties Administration Other support costs Total fund$ Basis of alloegtlon Overseas Aid UK & Ireland support proje¢ts 2,647 1,064 3,711 Total for 21n3 5294 Total for 2022 6,288 Basis of allocation Reference Audit fees Audit of the financAal statements Totsl for 2023 Totsl for 2022 Page 23
Btythswood Ireland Limited Notes to the Finallcial Statements for the Year Ended 31 December 2023 9 Net incomfing/outgoillg resources Net ill¢oming resources for the year include: 2023 2022 Audit fees (ProfrtyLoss on disposal of fixed assets held for the charity's own us¢ Depreciation of fixed wets 2,625 (1,625) 2,196 10 Trustees remuneration and expenses No trustees, nor any persons connected with the have Te¢¢iv¢d any remuneration from the charity during the No trnstees have received arty 1MbUrSed expenses or any Oth benefTrts from the chlty thring the year. 11 Staff costs The aggregate payroll costs were as follows: 2023 2022 Stsffcosts during the year were: Wages and sa]aries Pension costs Other staff Costs $84,485 17,998 870 603,353 528,510 15,701 544211 The monthly average number of persons (including senior management I leadership team) employed by the charlty during the year expressed as fuu-time equivalents was &8 follows: 2023 2022 Fundraising trading Fundraising and marketing 33 34 35 36 24 (2022 - 22) of the above employees participated in the Defined Contnl)ution Pe10n Schemes. No employee rec¢ived emoluments of more than £60,000 duriDg the year. 12 Audfitors, remuneratiOD 2023 2022 Audlt of the financial statements Page 24
BtytlWQ0d Ireland Limited Notes to the Financial Statements for the Year Ended 31 December 2023 13 Taxatlon The ¢lkarity is a registered ¢barity and is therefore exernpt from taxation. 14 TaDgible fixed ets Furniture and eqllipment Property Motor vehicles Total Cost At l January 2023 AdditioDS Disposals 981,678 97,193 29,659 119,050 1,197,921 29,659 16200 At 31 December 2023 981678 126 852 102 850 1211380 Depreciatlon At l January 2023 Charge for the year Eliminated on disposals 351276 20,219 87,387 7,392 46,035 17,813 484.698 45,424 At 31 Dec¢mber 2023 371495 516 119 Net book value At 31 De¢¢mber 2023 610 183 53,1)05 695 26l At 31 Decfflnber 2022 9,806 Included within the net book value of propety alx)ve is £555,028 (2022 - £569,117) in r¢spe¢t of freehold propety and £55,156 (2022 - £61,285) in respect of leasehol(L8. 15 Stock 2023 2022 Stocks 1271 90 Page 25
Blythswood Ireland Limited Notes to the Financial Statements for the Year Ended 31 December 2023 16 Debtors 2023 2022 Trade debtors . Prepaym¢nts VA T recoverable Other debtors s,9 10,310 10,832 36 3,852 24,010 17 Cash and cash equivalents 2023 2022 Cash at bank 417 622 412 778 18 Credltors: #mounts falllng due within one year 2023 2022 Trade Creditors Other loans Other taxation and social secwity Other creditors A¢cruals 7,646 76,563 8,197 4,079 30,197 126 682 9,681 77,776 8,540 4,434 120 288 Creditors due WAthAn one ye8r includes the following liabilitie4 on which seculity has been given by the Charity: 2023 2022 UCIT Loan Secured on property Page 26
Btythswood Ireland Limited Notes to the Financial Statements for the Year Ended 31 December 2023 19 Creditors: amounts falliug due after one yr 2023 2022 Other loans 16,622 Creditors amounts falling due after more than one year includes the following liabAlitie& on which security has been given by the clwity: 2023 2022 ucrr Loan Secured on property Page 27
Blythswood Ireland Limited Notes to the Financial Statements for the Year Ended 31 December 2023 20 Pension and other sehemes Defined Contribution pension scheme The charAty operates a defmed contrtion pension scheme. The pension cost charge for the year iepresents contnbutions payable by th¢ charity to the schem¢ aDd amounted to £17,998 (2022- £15,701). 21 Funds Balance at I January 2023 Incomlng resources Balallee at 31 December 2023 expended Unrestricted (unds Qeneral 973,069 1.119.913 (1,087,493) 1,005,489 Restricted funds 355 355 Totsl funds I J20.268 Xncoming resources 1087 848 Resources expended 1005 489 Balance at 31 December 2022 Balance at I January 2022 Unrestrleted Ibnds General 809,227 1,063,010 (899,168) 973,069 Restrlcted funds Total funds 814,212 1106 142 947 85 Page 28
Btythswood Ireland Limited Notes to the Financial Statements for the Year Ended 31 December 2023 22 Allatysis of net assets between funds Unrestricted Total fund5 Xt 31 funds December Genernl 2023 Tangible fAxed assets Current assets Current liabilities Creditors over l y¢ar 695,261 453,532 (126,682) 695261 453,532 (126,682) Total.net &8sets 1005 489 1005 489 Unrestrlcted Total funds at 31 funds De£¢mb¢r General 2022 Tangible fix¢d assets CLwreni assets Current liabilities Creditors ov¢r l year 713223 444.987 (120288) 713223 444,987 (120,288) Tot net assets Page 29