Charity registration number NIC104619 ROSARIO YOUTH CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
ROSARIO YOUTH CENTRE LEGALAND ADMINISTRATIVE INFORMATION Management Committee Mr Noel Savage Mrs Siobhan McKee Mrs Joanne McBrien Mr Geoff McGuigan Mr John Mccartney Ms Susan Gillen Ms Pauline Hegney Charity number NIC104619 Principal address 469 Ormeau Road Belfast BT7 3GR Auditor GMCG LISBURN Century House 40 Crescent Business Park Lisburn BT28 2GN Bankers Danske Bank 9 Donegall Sq North Belfast BT1 5GJ Solicitors Napier & Sons 1-9 Castle Arcade High Street Belfast BT1 5DF
ROSARIO YOUTH CENTRE CONTENTS Page Management Committee report Independent auditor's report 7-12 statement of financial activities 13 Statement of financial position 14 Notes to the financial statements 15-26
ROSARIO YOUTH CENTRE MANAGEMENT COMMITTEE REPORT FOR THEYEAR ENDED 31 MARCH 2024 The management committee present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Constitution, the Charities Act 2011 and "Accounting and Reporting by 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 IFRS 1021 (effective 1 January 20191" Objectives and activities The charity's objects are the provision, maintenance and promotion of facilities and activities of a social, spiritual, educational and recreational nature with the objective of improving the conditions of life of children and young people without distinction of sex, political, religious or other opinion. The Youth Centre aims to broaden the horizons and life expectations of our children and young people and assist them in reaching their full potential as active citizens in their community. The management committee have paid due regard to guidance issued by the Charity Commission in deciding what activities the chanty should undertake. Achievements and performance Funders 2023-2024.. Education Authority Clanmil housing Youth JusticeAgency Victoria Homes Trust Halifax foundation Mernbership 2023-2024: 9-13-year-old. 104 14+ years.. 118
ROSARIO YOUTH CENTRE IVIANAGEMENT COMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 During the year the centre undertook a number of outcome-based pro9rammes aimed at broadening the educational, social and recreational development of it members. Some of these programmes included.. Physical health and well-being programmes Sexual health and well-being programmes Mental health and well-being induding relationships programmes Personal safety programmes Violence against women and girt's programme Good relations programme Community relations programme Social Action Programmes Young Plato Prograrnrne Cookery Programmes Youth Forum Duke of EdinbLJrgh Award Scheme OCN'S Generic provision Mentoring Programme Cultural avRreness Programme Leadership Programmes Games with aims Programrnes Arts and CatiVe development Programmes Drop in Planned inteNention Programme Celebration events Youth voice
ROSARIO YOUTH CENTRE MANAGEMENT COMMITTEE REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Partnerships 2023-2024: The youth centre worked alongside a number of groups and organisalions during the year to support and complement its WO and help to further its purpose. These include.. Education Authority Youth WorkAlliance Youth JustlGeAgency Ormeau Boxing PSNI Clanmill housing CAMHS Family support Hub Belfast Trust st Joseph's College BCC st John Vianney Youth Centre St Malachy's Youth Centre Solas special needs Street Beat Youth Centre Active communities nehmork Staff Tralning and development: During the year staff undertook appropriate training and development to assist the delivery of service provision and meet the ever-changing need to the beneficiaries. The staff were involved in the following training.. Adverse Childhood experiences Reflective Practice Quarterly Inhouse Reflective Practice Young Plato Training First Aid Training Safeguarding
ROSARIO YOUTH CENTRE MANAGEMENT COMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 IVIARCH 2024 EA Local area-based funding specification". The EA Local Area-Based Funding Specification for the Upper Ormeau Area was awarded to the youth centre for the period of April 2024-March 2025. Ail targets and programmes contained within the award were achieved and reported on, wth the 3 moderations that took place as a result achieving good, or outstanding through the EA moderation process. EA Local Project funding: The EA Local Project funding specification for the Botanic DEA was awarded to the youth centre in partnership th St John Vianey and St Malachy's Youth Centre's for the period ofApril 2024-March 2025. All targets and programmes contained within the award were successfully achieved and reported on. Financial review Thè results are set out in detail on pages 13 to 26. The charity retumed net OLrtgoing resources for the year of £13,760 (2023 £29,106) leaving unrestricted funds of £56.039 (2023 _ £47,351) and restricted funds of £210,592 (2023- £233.040). In the year 2019 the charity received a legacy from the Estate of Eleanor Mulholland. The committee has designated £30,421 for the purposes of the charity's objectives. The unrestricted funds are considered to be essential to provide sufficient funds to Cover any unforeseen costs which may arise and fulfil legal obligations of the charity in the event that current levels of income are not maintained. The charity uses facilities at 469 Omieau Road, Belfast, BT7 3GR. These are owned by Down and Connor Diocese who allow the charity to use the facilities rent free. The management committee estimate that the value of this donation is approximately £20,000 per annurn. The management committee has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. It is the policy of the charity that unrestricted funds which have not been designated for a spechfic use should be maintained at a level equivalent to three to six months expenditure. The management committee considers that reserves at this level will ensure that, in the event of a signifioant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reseNes has been maintained throughout the year. The management committee have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
ROSARIO YOUTH CENTRE MANAGEMENT COMMITTEE REPORT (CONTINUED) FOR THEYEAR ENDED 31 MARCH 2024 structure, governance and management The chaiity is a registered charity for taxation purposes. The management committee who Seed during the year and up to the date of signature of the financial ststements were.. Mr Noel Savage Mrs Siobhan McKee Mrs Joanne McBrien Mr Geoff McGuigan Mr John Mccartney Ms Susan Gillen Ms Pauline Hegney The trustees of the charity appoints the chairperson. The management committee appoints the treasurer and secretary and other officers as they decide. The Youth Centre is a charity which is registered with CCNI and which is governed by the Down and Connor Youth Commission Youth Centre Constitution. statement of management committee responsibilities The management committee are responsible for preparing the Management Committee Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Northern Ireland requires the management committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the management committee are required lo.. select suitable accounting policies and then apply them consistently., obseNe the methods and principles in the Charities SORP 2019 (FRS 102)., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statement5'. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continLJe in operation. The management committee are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008, the Charity (Accounts and Reports) Regulations (Northern Ireland) 2015 and the provisions of the trust deed. They are a150 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
ROSARIO YOUTH CENTRE MANAGEMENT COMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 IVIARCH 2024 Disclosure of information to auditor Each of the management committee has confirrnÈd that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The management comrnittee report was approved by the Board of Management Committee. Mr Noel Savage Chairman
ROSARIO YOUTH CENTRE INDEPENDENT AUDITOR'S REPORT TO THE MANAGEMENT COMMITTEE OF ROSARIO YOUTH CENTRE Opinion We have audited the financial statements of Rosario Youth Centre (the 'charity') for the year ended 31 March 2024 which comprise the statement of financial adivities, the slalemenl of financial position and the notes to the f1nancial statements, including a summary of significant accounting policies. The financial reporting framewort that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting PractI-, and have been prepared in accordance with the requirements of the Charitie5 Act (Northern Ireland) 2008 and regulation 8 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Basis for opinlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Audiloffs responsibilities for the audrt ol the financial statomgnts sectlDn of our report. We are independent of the charity in accordance with the ethical requirernents that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilSed our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained 15 sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial statements, we have concluded that the rnanagement committee use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least e&ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the management committee with respect to goin9 concern are described in the relevant sections of this report.
ROSARIO YOUTH CENTRE INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MANAGEMENT COMMirrEE OF ROSARIO YOUTH CENTRE Other information The other information comprises the infomation included in the annual report other than the financial statements and our auditorfs report thereon. The management committee are responsible for the other information contsined Mqthin the annual reporL Our opinion on thè financial statements does not cover the other infomiation and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a rnaterial misstatement of this other infomation, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Chartties (Accounts and Reports) Regulations (Northem Ireland) 2015 require us to report to you rf, in our opinion.. the infomation given in the financial statements is inconsistent in any material respect with the management cornmittee report., or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records- or we have not received all the information and explanations we require for our audit Responsibilities of management committee As explained more fully in the statement of management committee responsibilities, the management committee are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the management committee determine is netsssary to enable the preparation of ffnancial statements that are free from material misststement, whether due to fraud or error. In preparing the financial statements, the management committee are responsible for assessing the charity's ability to Continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the management committee either intend to cease operations, or have no realistic altemative but to do so.
ROSARIO YOUTH CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED} TO THE MANAGEMENT COMMITTEE OF ROSARIO YOUTH CENTRE Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 65 (2) of the Charities Act (Northern Irelandl 2008 and report in accordance with regulations made under section 66 of that Act. Our objectives are to obtain reasonable assurance about wh8ther the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) wll always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material m155tatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, 15 detailed below.
ROSARIO YOUTH CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MANAGEMENT COMMITTEE OF ROSARIO YOUTH CENTRE Extent to which the audit was considered capable of detecting irregularities, including fraud We identify and assess the risks of rnatertal misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identfying and assessing potential risks of material misstatement in respect of irregularities, including fraud and non-compliances with laws and regulations, we considered the followng= The nature of the industry and sector, control environment and business performance, including the charty's remuneration policies for rnanagement committee, bonus levels and performance taryets, rf any", Results of our enquiries of management about their own identification and assessment of the risks of irregularities,. Any matters we identified having obtained and reviewed the charity's documentation of their policies and procedures relating to- Identifying, evaluating and complying With laws and regulations and whether they were aware of any instance of non-compliance., Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud- and The intemal controls estsblished to mitigate risks of fraud or non-compliance with laws and regulations,. The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud. As a result of these procedures, we considered the opportunities and intsntives that may exist within the charity for fraud and identified the greatest potential for fraud in income recognttion. In comrnon with all audits under ISAS (UK), we are also required to perfomi specific procedures to respond to the risk of management override. We slso obtained an understanding of the legal and regulatory frameworks that the charity operates in. focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charities Act {Northem Ireland) 2008. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fijndamental to the charity's ability to operate or to avoid a material penalty. 10-
ROSARIO YOUTH CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MANAGEMENT COMMITTEE OF ROSARIO YOUTH CENTRE Audit response to risks identified Our procedures to respond to the risks identified included the following.. Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements-, Enquiring of management concerning actual and potenti21 litigation and claims., Performing analytical procedures to identity any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud., Reading minutes of meetings of those charged with governance and reviewing correspondence with tax authorities., and In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments,. assessing whether the judgements made in making accounting estimates are indicative of a potential bias., and evaluating the business rationale of any significant transactions that are unusual or outside the riormal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indicalions of fraud or non-compliance with laws and regulations throughout the audit. Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In addition, as with any audit, there remains a higher risk of non-detection of irregularities. as they may involve collusion, forgery, intentional omissiong. misrepresentations, or the overnde of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non- compliance with all laws and regulations. A further description of our responsibilities is available on the Financial Reporting Council's website at.. httPS'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditoff s report. 11
ROSARIO YOUTH CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE IVIANAGEMENT COMMirrEE OF ROSARIO YOUTH CENTRE Use of our report This report is made solely to the charity's management committee, as a body, in accordance Psrt 4 of the Charities (Accounts and Reports) Regulations (Northem Ireland) 2015. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditoffs report and for no other purpose. To the fullest extent pennitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. GMCG LISBURN Chartered Accountants Statutory Auditor f//'t Century House 40 Crescent Business Park Lisburn BT28 2GN 12-
ROSARIO YOUTH CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITUREACCOUNT FOR THEYEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2023 2024 Notes Income and endowments from: Donations and legacies other trading activities Investments Other income 157,454 157,454 42,386 20,900 8.884 156.607 156,607 40,975 19,434 42.386 20,900 8,884 40.975 19,434 Total Income 72,170 157,454 229,624 60,409 156,607 217,016 Expenditure on: Charitable activities 243,384 66,804 179,318 246,122 62,486 180,898 Total expenditure 62,486 180,898 243,384 66,804 179,318 246,122 Net incomellexpenditurel 9,684 (23,444) (13,760) 16,3951 122,711) (29,106) Transfers between funds 14 (9961 998 Net movement in funds 122,711) 129,106) 10 8,688 (22,448) 113,760) (6,3951 Reconclliation of fund5'. Fund balances at 1 April 2023 47,351 233,040 280,391 53,746 255,751 309.497 Fund balances at 31 March 2024 56,039 210,592 266,631 47,351 233,040 280,391 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 13-
ROSARIO YOUTH CENTRE STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024 2024 Notes 2023 Fixed assets Tangible assets 15 206,844 Current assets Debtors Cash at bank and in hand 233,603 16 7,446 80,688 8,187 50,458 Creditors: amounts falling due within one year 88,134 58,645 17 (28,347) (11,857) Net current assets 59,787 46,788 Total assets less current liabilities 266,631 280,391 Income funds Restricted funds ed funds Designated funds General unrestricted fijnds 18 210.592 233,040 19 30,421 25,618 30,421 16,930 56,039 47,351 266,631 280,391 The financial statements were approved by the Management Committee on behalf by.. L*. and signed on their Mr Noel Savage Trustee Mrs Siobhan McKee Trustee 14-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Rosario Youth Centre is an unincorporated charity registered in Northern Ireland. The registered office and place of business is 469 Omeau Road, Belfast, BT7 3GR. 1.1 Accounting convention The financial statements have been prepared in accordance with the Gharity's constitution, the Charities Act 2011 and "Accounting and Reporting by 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 IFRS 102) (effective 1 January 20191 The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which 15 the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the management committee have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable fuknre. Thus the management committee continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use al the discretion of the management committee in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity Is legally entitled to it after any perfom)ance conditions have been met. the amounts Can be measured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Grants that relate to specific capital expenditure are treated as restricted income which 15 credrted to the Statement of Financial Activities in accordance with the terms of the letter of offer. Revenue grants are redited to the Statement of Financial Activities in accordance with the terms of the letter of offer. Income is deferred when it does not meet the criteria for recognition as incoming resources in the Statement ol Financial Activities. as entitlement does not exist at the balance sheet date. 1.5 Expenditure Expenditure is recognised on an accrual basis as a liability is incurred. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support them. 15-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEIKIENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Support costs are those functions that assist work of the charity but do not diredy undertake charitable activities. Support and other costs have been allocated to charitable activities based on actual usage by that activity. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases= Leasehold land and buildings Fixtures and fittings Motor vehicles 50/0 Straight Lino 250/0 or 33.330/0 Straight Line 25Q/o Reducing Balancè The gain or loss arising on the disposal of an assèt is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months Dr less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instrurnents Issues, of FRS 102 to all of its financial instruments. Financial instnjments are recognised in the charity's balance sheet when the charity becomes paty to thÈ contractual provisions of the instrument. Financial assets and liabilities are offset. with 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 setue the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction pri including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes 2 financing transaotion, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of opèrations from suppliers. Amounts payable sre classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amorbsed Gost using the effective interest method. 16-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Derecognltion of financial liabilitie5 Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.9 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Critical accounting estlmates and Judgements In the application of the Gharity's accounting policies, the management committee are required to rnake judgements, estimates and assumptions about the carrying amount 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 underfying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the rewsion affects only that period, Dr in the period of the revision and future periods where the revi510n affects both current and future periods. Key sources of estimatlon unGertainity Fixed assets The annual depreciation charge on fixed assets depends primaNIy Dn the estimated lives of each type of asset and estimates of residual values. The directors regularly review these assets Sives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in essets lives can hav8 a significant impact on depreciation Gharges for the period. Detail of the useful lives is included in Ihe accounting policies. Restricted and unrestricted funds Judgements are made in relation to allocation of income and expenditure lo restricted and unrestricted funds. The directors consider it appropriate to allocate these funds based on interpretation of donations received. 17
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 IVIARCH 2024 Donations and legacies Restricted funds Restricted funds 2024 2023 Income for charttable activites 157,454 156,607 157,454 156.607 Grants receivable for core activities EA Local Funding T BUC Camp Programmes Power Nl Belsonic Belfast City Council Halifax Clanmill Housing 127,693 130,000 13,008 1,000 450 3,490 3,650 22,621 12,149 157,454 156,607 Income from other trading activities Unrestricted Unrestricted funds funds 2024 2023 Shop and other centre income 42,386 40,975 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Rentsl incorne 20.900 19,434 18-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THEYEAR ENDED 31 MARCH 2024 Other income U nrestricted Unrestricted funds funds 2024 2023 Net gain on disposal of tangible fixed assets 8,884 Expenditure on charitable activities 2024 2023 Direct costs Staff costs Depreciation and impairment Youth club expenses Summer scheme costs 138,717 23,644 30,524 149,149 24,794 35,077 4,875 192,885 213,895 Share of support and governanGe costs (see note 91 Support Governance 48,339 2,160 30,067 2,160 243,384 246.122 Analysis by fund Unrestricted funds Restricted funds 62,486 180,898 66,804 179,318 243,384 246,122 Descrlption of charitable activities To improve the conditions of life far children and young people within the local community through the provision of afternoon. evening and weekend programmes of youth based activity that is informed in rls nature, structured, focused and outcome based. 19
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ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 10 Net movement in funds The net movement in funds is stated after chargingllcrediting).. Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets Profit on disposal of tangible fixed assets 2,160 23,644 18,884) 2,160 24,794 11 Management Committee None of the management committee (or any persons connected with them) received any remuneration or benefits from the charity during the year. 12 Employees The average monthly number of employees during the year was-. 2024 Number 2023 Number 11 13 2024 2023 Employment costs 146,181 2,968 Wages and salaries Social security costs 135,242 3,475 138.717 149,149 There were no employees whose annual remuneration was more than £60,000. 13 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 14 Transfers Transfers from the unrestricted fund to the restricted fund in the year were as follows.. EA Local Youthstart The transfer of £996 relates to covering resources expended in excess of funds received. 21
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEIVJENTS (CONTINUED) FOR THE YEAR ENDED 31 IVIARCH 2024 15 Tangible fixed assets Leasehold Fixtures and land and fittings buildings Motor vehicle5 Total Cost At 1 April 2023 Dispossls 331,591 49,668 9,850 (9,850) 391,109 (9,850) At 31 March 2024 331,591 49,668 Depreciation and impairment At 1 April 2023 Dèpreciation charged in the year Eliminated in respect of disposals At 31 March 2024 381,259 115.849 16,580 34,922 7,064 6,734 157.505 23,644 (6.734) (6,734) 132,429 41,986 174,415 Carrying amount At 31 March 2024 199,1S2 7,682 208,844 At 31 March 2023 215,742 14,745 3,116 233,603 16 Debtors Amounts falling due within one year: 2024 2023 Trade debtors Other debtors Prepayments and accrued income 3,748 3,698 7,867 320 7,446 8,187 17 Creditors: amounts falling due within one year 2024 2023 Bank overdrafts Other taxation and social security Trade creditors Other creditors Accruals and deferred income 190 2.195 6,796 277 2,399 2,278 18,392 207 7,470 28,347 11,857
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Restrlcted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Incoming Resources resources expended At 1 April 2023 Transfers At 31 March 2024 996 585 EA Local Youthstart EA Local Funding EA Summer Scheme Belfast City Council Department of Education Ethiopia Trip EA Local Project Clanmill Housing EA Equipment Halifax EA Planned Intervention 1,250 (1,661) (96,823) {1,8601 (3,4901 {16,580) 96,823 1,860 3.490 215,742 5,000 199,162 5,000 24,915 22,622 124.915) (23,0451 (2,9201 (3,650) {5,9541 423 8,765 5,845 3,650 5,954 233,040 157,454 (180,898) 996 210,592 Previous year: At 1 April 2022 Incoming resources Resources expended Transfers At 31 March 2023 1,250 EA Local Youthstart EA Local Funding EA Summer Scheme Department of Education Youth Justice Agency Power Nl Belsonic Ethiopia Trip CSanmill Housing EA T BUC Camp Programmes EA Equipment 2,910 11,660) (130,000) (1 ,860) (16,580) {113) (1,000) (450) 130,000 1,860 215,742 3,720 232,322 113 1,000 450 5,000 423 5,000 (11,7261 (13,0081 12,921) 12,149 13,008 11,686 8,765 255,751 156,607 (179,318} 233,040 -23-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Restricted funds (Continued) EA Local Youthstart restart project fund To assist with the assessed needs of the organisation and young people in line with the retum af face-to-face interaction and programming in relation to staffing and resources EA Local Funding To provide financial assistance towards salaries. programme costs and overheads. EA Summer Scheme To provide cross Community prograrnme for young people in the Rosario area. Belfast City Council To provide funding towards the youth mentortng programme. Department of Education To provide capital funding to improve premises used for the benefit of young people. Youth Justice Agency To provide funding for the running of an earty intervention transforrnation programrne. Ethiopia Trip To provide funding for a projert trip to Ethiopia. This trip has been postponed due to COVID-19. EA T BUC Camp Programmes To provide funding T:BUC Camp's programme. EA Equipment To provide funding for the purchase of IT equipment Clanmill Housing To provide assistan towards rnentoring programme. Halifax To Address the issue of anti-social and risk-tsking behaviour with young men who identified as not in education, training. or employmÈnt, exploring the themes of violence. aggression. gambling, gaming, drugs. and alcohol misuse. EA Planned Intervention To provide engagement, support, and programming to young people at risk from engaging in antSocIal and risk-taking behaviour, parbcularly interface violence to reduce the likelihood of becoming fvrther marginalized and enhance community safety. EA Local Project To Provide a generic and targeted youth work response due to the EA assessment of need in line with the Upper Ormeau Area Specification. -24-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside oul of unrestricted funds by the trustees for specific purposes. Transfers At 31 March 2024 At 1 Aprll 2023 Incoming resources Resources expended Estate of Eleanor Mulholland General funds 30,421 16,930 30,421 25,618 72,170 162,4861 (996) 47,351 72,170 {62,486) (996) 56,039 Prevlous year: At 1 Aprll 2022 Incoming resources Resources expended Transfers At 31 March 2023 Estate of Eleanor Mulholland General funds 30,421 23.325 30,421 16,930 60,409 (66,804) 53,746 60,409 {66,804) 47.351 These funds are to be used for the purposès of the charity's objectives. 20 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsllliabilities) 205.596 4,996 206,844 59,787 1,248 54,791 56,039 210,592 266,631 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023., Tangible assets Current assetsl(liabilities) 4,986 42,365 228,617 4,423 233.603 46,788 47,351 233,040 280,391 -25-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEIVIENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Financial commitments, guarantees and contingent liabilities Funding from Department of Education has been secured against the 25 year lease on the propety. 22 Operating lease commitments At the reporting end date the charity had OLttstsnding commitments for fijture minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2024 2023 Within one year Betsmeen fwo and five years 584 308 744 892 892 1,636 -26-