New5tart Education Centre
Statement of Financial Activltles
Ineor
oratin
an Income and Ex
ror the Year Ended 31 Mareh 2024
endilure Aeeount
31.3.24
Total
funds
31.3.23
Total
funds
Unrestri¢ted Restricted
funds
funds
Notes
INCOME AND EIYDOWMENTS FROM
Donations and legacies
200
200
CharRtable activities
Grants Receivable
264,960
191,989
456,949
426,856
Total
265,160
191,989
457,149
426,856
EXPENDITURE ON
Charitable aelivltles
Direct Cliaritable Expenditure
Governance
281,946
823
176,331
458,277
823
550,499
3,716
Totgl
282,769
176,331
459,100
554.215
NET ENCOMEI{EXPENDITURE)
(17,609)
15,658
(1,951) (127,359)
RECONCILIATION OF FUNDS
Total funds brouglit forward
87,050
,864
95,914
223,273
TOTAL FUNDS CARRIED FORWARD
69,441
24,522
93,963
95,914
The notes form part of these financial stalements
10

NowstArl Education Centre
Stalement of FiDAn¢ial Posltion
31 March 2024
31.3,24
31.3.23
Notes
FIXED ASSETS
Tangible assets
6,168
7,710
CURRENT Asslt TS
Debtoi's
Cash at bank
10
24,500
81,683
103,653
103.653
106,183
CREDITORS
Amounts falling due within one year
(15,858)
{17,979)
NET CURRENT ASSETS
87,795
88,204
TOTAL ASSETS LESS CURRENT
LIABILITIEI S
93,963
95,914
NET ASSEI TS
93,963
95,914
FUNDS
Unrestricted fiinds
Restricted funds
13
69,441
24,522
87,050
8,864
TOTAL FUNDS
93,963
95,914
The cliaritable company is entitled to ¢xemption from audit under Section 477 of the Coinpanies Acl 2006
for the year end¢d 31 March 2024.
The members have not required the compaiiy to obtain an audit of its financial stat¢ments for the year ended
31 Marcl) 2024 in accordaiice with Section 476 of the Coinpanies Act 2006.
Tlie trustees acknowledge tlieir responsibilities for
(a)
cnsui'ing that th¢ oharltable company keeps accounting records that comply with Sections 386 and 3 87
of the Compani¢s Act 2006 and
(b) prepariiig financial stateinents wliich give a true and fair view of the state of affairs of the charitable
company as at the end of each fiiiaiicial year and of its surplus or deficit for ¢acli financial yeai. in
accordanoe with th¢ requireineiits of Sectioiis 394 and 395 aiid which otherwise cojnply with the
requirements of the Con]panies Act 2006 relating to financial statemenls, so far as applicable to the
cliaritable company.
The iiotes form part of these financial statements
continued...

Newstart Edueatlon Centre
Statement of Financial Positlon - continued
31 March 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable
coinpanies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and aiithorised for issue on
27 Nov¢inb¢r 2024 and wer¢ signed on its behalf by:
Mr J Donnelly- Trustee
The notes form part of these financial statements
12

Newstart Education Centre
Notes to the Fingnciil Statements
for the Year Ended 31 Mareh 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
I, ACCOUNTJNG POLICIES
Summary of significaiit accounting policies
(a) General information and basis of pr¢paration
Newstart Education Centre is constituted as a company liinited by guarantee incorporated in Northern
Ireland (N1054249). In the event of tlie cliarity beiiig would up, the liability in respect of the guarantee
is limited to £1 per member of the cliarity.
The charity constitutes a public benefit entity as defined by FRS 102. The financial 5tatem¢nts have
beeii prepared iii accordance with Accountiiig and Reporting by Charities,, Statement of
Recoii)mended Practice applicable to charities preparing their accounts ii) accordan¢e with the
Finaiicial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Ihe Financial
Reportiiig Standard applicable in tlie United Kingdom and Republic of Ireland (FRS 102), the
Cliarities Act (Northerii Irelaiid) 2013, the Coinpanies Act 2006 and UK Generally Accepted Practice
as it applies from l January 2015.
The financial statements are pr¢pared on a going concern basis under th¢ historical cost conveiition,
modified to include certain iteins at fair value. The financial stat¢meAits are presented in sterling
which is the functional Currency of the charity.,
The significant accounting polici¢s applied in the preparation of these financial statements are set out
below. Tliese policies Iiave been consistently applied to all years present¢d unless otherwise staled.
(b) Funds
Unrestricted funds al'e avai lable for use at the dis¢r¢tion of the trustees in furtherance of the general
objectives of the cliarity and which Iiave iiot been d¢signated for other purposes.
Designated funds comprtse unrestricted fuiids that have been set aside by the trustees for particular
purposes. The aim and use of eacli designated fund is set out in the notes to the financial stateineiits.
Restricted funds are funds which are to be used in accordance with specific restrictions iinposed by
donors or whi¢h have been raised by th¢ cliarity for particular purposes, The cost of raising and
administering such funds are charged against the specific fund. The aim and use of eacli restricted
fund is set out in the notes to the financial stateinents.
Further explanation of the nature aiid purpose of each fund is included in tlie not¢s to the financial
Statements.
(c) Income recognition
All incoming resources are included in the Stat¢ment of Financial Activities (SOFA) when the charity
is legally entitled to the income after any perfoi'mance conditions have been met, the amount can be
measured i'¢liably and it is probable that the income will b¢ received.
13
continued...

Newstarl Education Centre
Notes lo the Finanelal Statements - conllnued
ror Éhe Year Ei nded 31 March 2024
ACCOUNTING POLICIES- continued
Basis of preparing the financlal statemehts
For doiiations to be recognised the charity will have been notified of the amounts and tlie settlement
date in writing. If thei'e are conditions attaclied to the donation and this requires a level of
performance b¢fore entitleinent can be obtained then income is def¢rred until those coiiditions are
fully met or the fulfilinent of those conditions is withiii the control of the charity and it is probable
that they will be fulfilled.Voluntary incoine is rec¢ived by way of grants, donations and gifts and is
included in full in the Statement of Finaiicial Activities (SOFA) wlien receivable. Income received
froin collections is recognised when received.
Donated facilities and donated professional services are recognised iii income al their fair value when
their e¢onomic benefit is probable, it can be ineasured reliably and the charity has ooi)trol ovei. the
item. Fair value is deterlnined on the basis of tl)e value of the gift to the charity. For example the
amount the charity would be willing to pay in the open market for such facilities and services. A
corresponding ainount is recogiiised in expeiiditui'e,
No amoiint is included in the financial statemeiits for volunteer time in line with th¢ SORP (FRS 102).
Further detail is given in the Trustees, Annual Report.
Foi. legacies, entitlement is the earlier of tlie charity being notified of an iinpending distribution or the
legacy being received. At this poiiit incoine is i'ecognised. Oil occasion legacies will be notified to tlie
cliarity liowever it is not possible to measure the ainount expe¢ted to be distributed, On these
occasions, the legacy is treated as a contingent asset and disclosed.
Income from trading activittes includes income earned from fundraising events and trading activities
to raise funds for the charity. Income is received in exchange for supplying goods and services in
ord¢r to raise funds and is recognised when ei)titlement has occurred.
The chartty receives goveriiment grants wliich are detailed within the not¢s to these fiiiancial
statemenls. Income from governin¢nt and other graiits are recognised at fair value when the charity
has entitlejnent after any perforinance conditions have been met, it is probabl¢ tliat tlie incom¢ will be
received and the amount can be measured reliably. If ¢ntitlem¢nt is iiot met tlien these amounts are
deferred.
(D) Expenditiure recognition
All expenditure is accounted for on an accruals basis, inclusive of VAT which cani)ot be recovered
and lias been classified under headings tliat aggregate all costs related to the category. Expenditure is
recognised wliei'e there is a legal or constructive obligatioii to mak¢ payments to tliii'd parties, it is
probable that the settlemeiit will be requlred and the amount of the obligation can be measured
reliably. It is categorised uiider the following headings:
Costs of raising funds includes tlie costs associated with attracting voluntary iiioomes.
ExpenditUTe on charitable activities ii)eludes those costs incuri'ed by the charity in the delivery of its
actlvities and services for its beneflciaries. It includes both costs that can be allocated directly to 5u¢h
activities and those costs of an indirect naturc necessary to support them. and
Other expenditure represents those items not falling into the categories above.
Irrecoverable VAT is charged as an expense against th¢ activity for wliich expenditure arose.
14
continued...

Newstart Education Centre
Notes to the Ffinaneial Statements - contlnued
for the Year Ei nded 31 March 2024
ACCOUNTING POLICIES - continued
Basis of preparing tlie financlal statements
Grants payable to third parties are witliin tlie charitable objectives. Wliere unconditional grants are
offered, tliis is accrued as soon as the recipient is notified of the gi'ant, as this gives rise to a
reasoiiable expectation that tli¢ r¢cipient will receive the gi'ants. Wher¢ grants are conditional Yelating
to performance theii the grant is only accrued wlien aiiy unfulfilled conditioiis are outside of the
control of the charity.
(e) Support costs allocation
Support costs are those that assist the work of the charity but do not directly represeiit charitsble
activities and include office Costs, governaiice costs, administrative payroll costs. They are incurred
directly in support of ¢xpenditur¢ on the objects of tlie charity and include project Inaiiagem¢nt
carried out at Headquaiters. Where support costs ¢aiinol be directly attributed to particular headings
tliey Iiave beeii allocated to cost of raising funds and expenditure on cliaritable activities on a basis
consistent with use of the resources. Premises overheads Iiave beeii allocated on an iiisert detail basis
aiid otlier overheads have been allocated on a basis consistent with the us¢ of resourc¢s.
Fund-raising costs are those iiicurred in seeking voluntary contributions and do not include the costs
of disseminattng information in support of the cliaritable activities.
(D Tangible fixed assets
Tangible fixed assets are stated at cost less accuinulated depreciation and accumulated impairinent
losses. Cost includes costs directly attributable to making the asset capabl¢ of operating as intended.
D¢preciation is provided on all tangible fix¢d assets. at rates calculated to write off the Cost, less
estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Fixtur¢s and Fittings
Motor Vehicles
200/0 Reduciiig Balanc¢
200/0 Reducing Balance
(g) Debtors and ¢r¢ditors r¢c¢ivable I payable within one year
Debtors and crediloi's witl) no stated ii)terest rate and receivable or payable withii) one year are
recorded at transactioii price. Any losses arising fi'om impaii'ment are recognised in expeiiditure.
(h) Financial Instruinents
The charity only lias financial assets and liabiltties of a kind that qualify as basic financial
instruments. Basic financial instrumcnts are initially r¢¢ognis¢d at transaction value and subsequently
measur¢d at s¢ttleJnent valu¢.
(i) linpairinent
Assets not measured at fair value al'e reviewed for any indication that the asset may be impaired at
each balance sheet date, If sucli indication exists, the r¢cov¢rabl¢ amount of th¢ asset, or the asset's
cash generating unit, is estiinated and ¢oinpared to the carrying alnount. Where tli¢ carrying amount
exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is
carried at a revalued amount where the impairment loss is a revaluation decrease.
15
continued...

Newstart Edueatlon Centre
Notes to the Financial Statements - continued
for the Ye#r Ended 31 March 2024
ACCOUNTING POLICIES - ¢ontlnued
Basis of preparfing the financial stAtements
O) Pi'ovisions
Provisioiis arc recognised when th¢ ¢h8rity has an obligation at the balance slieet date as a result of a
past event, it is probable that an outflow of ¢¢onomic benefits will be required in settlement and the
amount can be reliably estiinated.
(k) Leases
Assets acquired uiider finance leases are capitalised and depreciated ovei the shorter of tlie lease term
and the expected usefiil life of the asset. Minimum lease payments are appoitioned between the
finai)ce charge and th¢ reduction of tlie outstanding lease liability using the effective interest Inethod.
Tlie related obligations, net of future finance charges, are included in creditors.
Rentals payable and receivable under op¢rating leases are cliarged to the SOFA on a straight line basis
over the period of the lease.
(l) Tax
No provision is required for taxation as the company is defined as a Charity for taxation purposes.
The charity is a registered charity and so such is enlltled to certain tax exemptions on in¢ome and
profits from investinents and surpluses on any trading activities carried on in furtlierance of the
charity's priinary objectives, if ihese profits and surpluses are appli¢d solely for cliaritable purposes.
(In) Going concern
Tlie financial statements have been prepared on a going concern basis as tl)e trustees believe tliat no
material uncertainties exist. The trustees have considered tlie l¢v¢l of funds held and the expected
level of income and expenditure for 12 months from autliorising these financial statements. The
budg¢t¢d income and expenditui'e is sufficient with tl)e level of reserves for the charity to be able to
continue as a going concern.
(n) Judgements estimates
The preparatioii of the financial stateinents i'equires manageinent to Inake judg¢ments, estimates and
assumptions that affect tlie amouiits reported. These estimates and judgements are continually
reviewed and are based on exp¢rAeiice and other factors. including expectations of future events tliat
are believed to be reasonable under the circumstances.
The iteins iji tlie fJnan¢ial statements wliere these judgemeiits and estimates liave been made include:
(i) ¢stiinating the useful economic life of taiigible fixed assets
(ii) allocation of expenditur¢ and support costs
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life.
Fixtures and fittings
Motor vehicles
200/0 on R¢ducing Balance
20 % on Reducing Balance
16
continued...

Newstart Ei dueation Centre
Notes to the Financial Statements - contlnued
for the Year Ended 31 March 2024
ACCOUNTING POLICIES - Continued
Related party exemption
The charitable Company has taken advantage of exemption, under the terms of Financial R¢porting
Standard 102 'Tlie Financial Reportiilg Standard applicable in tlie UK and Republic of Ii'eland,, not to
disclose related party transactions with wholly owned subsidiaries within the group.
TaxatjOD
Tlie colnpany is a register¢d cl)arity and so siich is entitled to certain tax exemptioiis on income aiid
pi'ofits fi'om inv¢stments and surplus¢s on any ti'ading activities carried on iii furtherance of tlie
charity's primai'y objectives, if these profits and surpluses al'e applied solely for charitable purposes.
Fund accounting
Tlie coinpaiiy lias various types of funds for whicl) it is responsible and which require separate
disclosure. A definition of tlie various types of funds is as follows:
(i) Restrict¢d funds:
Funds r¢ceived which are earinai'ked by tlie donor for specific pui'poses, Sucli pui'poses are within the
overall aims of th¢ company.
(li) Unrestricted funds:
Funds which are expendable at the discretion of the directors which have been designated for specific
purposes in furthcrance of the objects of the charity.
Pension costs and other post-retirement benefits
The charitable company operates a defined Conlribution peiision sclieme. Contrlbutions payable to
the charitable company's pensioii scheme are charged to the Statement of Financial Activities in the
period to whicli they relat¢.
INCOME FROM CHARITABLE ACTIVITIEI S
31.3.24
31.3.23
Activity
Grants Receivable
Grants
456,949
426,856
Grants received, iiicluded in the above, are as follows:
31.3.24
31.3.23
Departinent for Coinmunities
Edu¢atioii Authority
Belfast City Council
Active Cominunitics
Peace IV
The Big Lottery Fund
Department for Communit¢s - Additional
Education Authority - Training
Community Foundation Noitthei'n Ireland
Awards for All
30,693
261,360
23,575
35,207
251.534
3,996
850
2,345
35,228
19,500
14,250
34,862
9,966
12,600
38.200
Carried forward
366,428
407,738
17
continued..

Newstart Education Centre
Notes to the Flnancial Statements- conÉlnued
for the Year Ended 31 March 2024
INCOME FROM CHARITABLE ACTIVITIES - eontlnued
31.3.24
31.3.23
Brouglit forward
Patliway Fund
NFU Mutual
ASDA
NI Alteriiatives
National Lottery Cominunity Fund
Heiiry Smith
366,428
3,600
407,738
11,000
1,200
918
6,000
17,521
69,400
456,949
426,856
CHARITABLE ACTIVITIES COSTS
Support
costs (se¢
note 4)
Direct
Costs
Totals
Dii'ect Cliai'itable Expenditure
Governance
456,355
1.922
823
458,277
823
456,355
2,745
459,100
SUPPORT COSTS
Governance
Costs
Direct Cliaritable Expenditure
Governance
1,922
823
2,745
￿￿1 T INCOMEI(EXPENDITURE)
Net income/(expenditure) is stated after Chargin￿(Crediting).
31.3.24
31.3.23
Depreciation- owncd assets
1.542
1,927
18
continued...

Newstart Education Centre
Notes to the Financi81 Stal¢ments- continued
for the Year Ended 31 March 2024
AUDITORS, REMUNERATION
31.3.24
31.3.23
Accountancy Fee
2.430
3,360
TRUSTII S, REMUNERATION AND BENEFITS
There were no trustees, remuneration or otlier b¢nefits for the year ended 31 March 2024 iior for th¢
year ended 31 March 2023.
Trustees, expenses
Tliere were no trust¢es' expenses paid for the year end¢d 31 March 2024 iior for the year ended
31 March 2023.
STAFF COSTS
31.3.24
31.3.23
Wages and salaries
Social security costs
Other pension costs
317,471
22,885
3,925
379,295
27,685
6,093
344,281
413,073
The average monthly nuinber of employees duriiig the year was as follow5:
31.3.24
13
31.3.23
16
Administration
No employees received emoluinenls in excess of £60,000.
Tlie k¢y maiiagement p¢rsoiinel of the cliarity comprise of the Chief Executive and Senior
management team. The sa18ries paid to key inaiiagemeiit personn¢l being the Chief Executive
Officer, Prograinme Managers, and Programme Co-ordinator during the year totalled £146,582.
(2023: £182,121)
19
continued...

Newstart Educalion Centre
Notes to the Fhnancial Stalements - continued
for the Year Ended 31 Mareh 2024
TANGIBLE FIXED ASSETS
Fixtures
and
fittings
Motor
vehi¢l¢s
Totals
COST
At l April 2023 and 31 March 2024
88,872
17,820
106,692
DEPREICIATION
At l April 2023
Cliarge for y¢ar
81,162
1,542
17.820
98,982
1,542
At 31 Marcli 2024
82,704
17,820
100,524
NET BOOK VALUE
At 31 March 2024
6,168
6,168
At 31 March 2023
7,710
7,710
10. DEBTORS: AMOUIYTS FALLING DUE WITHIN ONE YEAR
31.3.24
31,3.23
Department for Communities -
Additional
Pathways
19,500
5.000
24,500
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24
31,3.23
Social security and other taxes
Credit Card
Accrued expenses
7,094
474
8,290
5,984
538
11,457
15,858
17,979
20
continued...

Newst#rt Education Centre
Notes to the Flnancial Statements- Continued
for the Year Ended 31 March 2024
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.3.24
Total
funds
31.3.23
Total
funds
Uiirestricted Restricted
funds
funds
Fixed assets
Current assets
Current liabilities
6.168
18,354
6,168
103,653
(15,858)
7,710
106,183
(17,979)
85,299
(15,858)
69,441
24,522
93,963
95,914
13. MOVEMENT IN FUNDS
Net
Inovement
in funds
At
3113124
At 114123
Unrestricted funds
Getieral fund
Educatioii Autliority
64,962
22,088
(21,657)
4,048
43,305
26.136
87,050
(17,609)
69,441
Restrietcd funds
Dept of Commuiiiti¢s - Capital
Henry Sinith
8,864
(1,542)
17,200
7,322
17.200
8.864
15,658
24,522
TOTAL FUNDS
95,914
(1,951)
93,963
21
continued...

Newstart 1¢ dueatlon Centre
Notes lo the Financial Statements- conlinued
for the Year Ended 31 March 2024
13. MOVEMENT IN FUNDS - continued
Net moveineiit in funds, included in the above are as follows:
Incoming
resources
R¢source5
expended
Movement
in funds
Unrestricted funds
General fund
Education Authority
Pathways Fund
200
261,360
3,600
(21,857)
(257,312)
(3,600)
(21,657)
4.048
265,160
(282,769)
(17,609)
Restricted funds
Department for Communities
Belfast City Council
Dept of Communities - Capital
Education Autliority - Training
Community Foundation Northern
Ireland
National Lottery Community Fund
Henry Smith
30,693
23,575
(30,693)
(23,575)
(1,542)
(12,600)
(1,542)
12.600
38,200
17,521
69,400
(38,200)
(17,521)
(52,200)
17,200
191,989
(176,331)
15,658
TOTAL FUNDS
457,149
(459,100)
(1,951)
Comparatives for movement iii funds
Net
movemeiit
in funds
At
3113123
At 114122
Unrestricted funds
Genei'al fund
Education Autliority
14,150
63,469
(49,188)
(41,381)
64.962
22.088
177,619
(90,569)
87,050
Restricted funds
Dept of Communities - Capital
Community Foundation Nortliern
Ireland
10.791
(1,927)
8,864
34,863
(34,863)
45,654
(36,790)
8,864
TOTAL FUNDS
223,273
(127,359)
95,914
22
contiiiued...

N¢wstart li ducation Centre
Notes to the Financlal Statemenls - continued
for the Year Ended 31 March 2024
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, in¢luded iii the above are as follows:
Incomiiig
r¢sources
Resources
expended
Movement
in fiinds
Unrestricted funds
General fund
Education Authority
NFU Mutual
Pathways Fund
ADDA
NI Alternatives
(49,188)
(292,915)
(1,200)
(i 1,000)
(918)
{6,000)
(49,188)
(41,381)
251,534
1,200
11.000
918
6.000
270,652
(361.221)
(90,569)
Restricted funds
Depaitment for Communities
Belfast City Council
Active Cominunities
Peace IV
Dept of Commuiiities - Capital
The Big Lottery Fund
Departin¢nt for Communities -
Additional
Education Authority - Training
Cojnmuiiity Foundation Nortlierii
Ir¢land
Awards for All
35,207
3.996
850
2,345
(35,207)
(3.996)
(850)
(2,345)
(1,927)
(35,228)
(1,927)
35,228
19,500
14.250
(19,500)
(14,250)
34,862
9,966
(69,725)
(9,966)
(34,863)
156,204
(192,994)
(36,790)
TOTAL FUNDS
426,856
(554,215) (127,3 59)
14. RELATKD PARTY DISCLOSUREI S
Th¢re were no related party transactions for the year ended 31 March 2024.
23
continued...