Charity registration number NIC104619 (Northern Ireland) ROSARIO YOUTH CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
ROSARIO YOUTH CENTRE LEGALAND ADMINISTRATIVE INFORMATION Management Committee Mr Noel Savage Mrs Siobhan McKee Mrs Joanne McBrien Mr Geoff McGuigan Mr John MGCartney Ms Susan Gillen Ms Pauline Hegney Charity registration Northern Ireland NIC104619 Principal address 469 Qrmeau Road Belfast BT7 3GR Auditor GMCG LISBURN Century House 40 Crescent Business Park Lisburn BT28 2GN Bankers Danske Bank 9 Donegall Sq North Belfasl BT15GJ Solicitors Napier & Sons 1-9 Castle Arcade High Street Belfast BT15DF
ROSARIO YOUTH CENTRE CONTENTS Page Management Committee report Independent auditorfs report 7-12 Statement of financial adivities 13 Statement of financial position 14 Notes to the financial statements 15-25
ROSARIO YOUTH CENTRE MANAGEMENT COMMITTEE REPORT FOR THE YEAR ENDED 31 MARCH 2025 The management committee present their annual report and financial statements for the year ended 31 March 2025. The financial slatemenls have been prepared in accordance with the accounting policies set out in note 1 to the financial slalements and Gomply with the charity's Constitution. the Charities Act 2011 and 'AountIng and Reporting by Charities: Slalement 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" 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 lo broaden the horizons and life expèclations of our children and young people and assisl them in reaching their full potential as active citizens in their community. The managemenl committee have paid due regard lo guidance issued by the Charity Commission in deciding what activities the Gharity should undertake. Achievements and performance Programme Funders 2024-2025: Education Authority McAdam Community inveslmenl fund Belfast City Council Youth Justice Agency Victoria Homes Trust T: Buc Membership 2024-2025: 8-11 years.. 114 14+ years.. 88
ROSARIO YOUTH CENTRE MANAGEMENT COMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 During the year the centre undertook a number of outcome-based programmes aimed at broadening the educational, social and recreational developmenl 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 including relationships programmes Personal safety programmes Violence against women and girl's programme Good relations programme Communty relations programme Social Artion Programmes Young Plato Programme Cookery Programmes Youth Forum Duke of Edinburgh Award Scheme OCN'S Generic provision Mentoring Programme Cultural awareness Programme Leadership Programmes Games with aims Programmes Arts and creative development Programmes Drop in Planned intervention Programme Celebration events Youth voi
ROSARIO YOUTH CENTRE MANAGEMENT COMMirrEE REPORT {CONTINUED} FOR THEYEAR ENDED 31 MARCH 2025 Partnerships 2024-2025 The youth centre worked alongside a number of groups and organisations during the year to support and complement its work and help lo further its purpose. These include= Education Authority Youth WorkAllianGe Youth Justice Agency Ormeau Boxing PSNI CAMHS BCC Lower Ormeau Hub St MalaGhy's Youth Centre Solas special needs street Beat Youth Centre Active communilies network staff Training and development: During the year staff undertook appropriate Iraining 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.. Reflective Practice Quarterly Inhouse Reflective Practice Young Plalo Training First Aid Training Safeguarding Leadership skills OCN Iraining the trainers
ROSARIO YOUTH CENTRE MANAGEMENT COMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 EA Local area-based funding specifjcation: The EA Local Area-Based Funding Specification for the Upper Omieau Area was continued and will be complete in March 2026. All targets and programmes contained within the award were achieved and reported on. with the 4 moderations that took place as a result achieving standards met, or standards exceeded under the new moderation framework. EA Local Projectfunding". The EA Local Project funding specification for the Botanic DE4 was awarded to the youth centre in partnership with Sl Malachy'5 Youth Centre for the period April 2024 March 2025. All targets and programmes contained within the award were successfully achieved and reported on. Financial review The results are set out in detail on pages 13 to 25. The charity returned nel outgoing resources for the year of £955 {2024 Net outgoing resources £13,760) leaving unrestricted funds of £57,365 (2024 - £56,039) and restricted funds of £208.311 (2024 - £210.592). 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, £13,259 of these funds were used in the year leaving a balance of £17,162 a5 a designated fund. The unrestricted fvnds are considered to be essential to provide sufficient funds to cover any unforeseen costs whiGh may arise and fulfil legal obligations of the charty in the event that current levels of income are not maintained. The charty uses facilities at 469 Omeau Road, Belfast, BT7 3GR. These are owned by Down and Connor Di0Se who allow the charity to use Ihe facilities rent free. The management committee estimate that the value of this donation is approximately £20.000 per annum. 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. 11 is the policy of the charity that unrestricted funds which have not been designated for a specific use should be mainlained 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 significant drop in funding, they will be able to continue Ihe charity's current activities while consideralion is given to ways in which additional funds may be raised. This level of reserves 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 COMMirrEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 structure, govemance and management The charity is a registered charity for taxation purposes. The management committee who served during Ihe year and up to the date of signature of the financial slalemenls were.. Mr Noel Savage Mrs Siobhan McKee Mrs Joanne McBrien Mr Geoff McGuigan Mr John Mccartney Ms Susan Gillen Ms Pauline Hegney The truslees of the charity appoints Ihe chairperson. The management committee appoints the treasurer and secretary and other officers as they decide. The Youlh Centre is a charity which is registered with CCNI and which is govemed by the Down and Connor Youlh Commission Youth Cenlre Constitution. Statement of management committee respDnsibilities 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 slate of affairs of the charity and of the incoming resources and application of resources of the charity for thal year. In preparing these financial slatemenls, the management committee are required lo.. select suitable accounting policies and then apply them conslstenlly., observe the methods and principles in the Charitie5 SORP 2019 (FRS 102)., make judgements and estimales that are reasonable and prudent., stale whether applicable accounting standards have been followed, and prepare the financial slalement5 on the going concern basis unless it is inappropriate to presume that the charity will continue 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 trusl deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities.
ROSARIO YOUTH CENTRE MANAGEMENT COMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Disclosure of inforniation to auditor Each of the managemènt committee has confirmed that there is no information of which they are aware which is relèvant to Ihe audil. but of whiGh the auditor is unaware. They have further confirmèd that they have taken appropriate steps to identify suth relevant information and to establish that the auditor is aware of such information. The management committee report was approved by the Board of Management Commtttee. YA Mr Noel Savage Chairman
ROSARIO YOUTH CENTRE INDEPENDENT AUDITOR'S REPORT TO THE MANAGEMENT COMMirrEE OF ROSARIO YOUTH CENTRE Opinion We have audited the financial statements of Rosario Youlh Centre (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial aclivilies, the Statement of financial position and the notes to the financial statements, including a Summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard appliGabl& 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 stale of the charity's affairs as at 31 March 2025 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 Practice,. and have been prepared in accordance with the requirements of Ihe Charities Act (Northern Ireland) 2008 and regulation 8 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Basis for opinion We conducted our audit in accordance with Inlernational Slandards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those slandards are further described in the Auditorfs responsibilitl8s for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficienl and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the f5nancial slatements, we have concluded that the management committee use of the going concem 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 lo 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 e1ve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of Ihe managemenl committee with respect lo going concern are described in the relevant sections of Ihis report.
ROSARIO YOUTH CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MANAGEMENT COMMITTEE OF ROSARIO YOUTH CENTRE Other infomiation The other information comprises the information 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 within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infomiation and, in doin9 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 lo be materially misstated. If we identify such material inwnsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misststement in the financtal statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Matters on which we are qUired to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 require us to report to you if, in our opinion= the information given in thè financial stslements is inconsistent in any material respect with the management committee report- or sufficient accounting records have not beèn kept; or Ihe 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 rèsponsibilrtiÈs, the management committee are responsible for the preparation of the financial ststements and for being satisfied that they give a true and fair view, and for such internal control as the management committee determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statemenls, the management committee arè responsible for assessing the chartty's abilty lo continue as a going concem, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the management committee either intend to cease operalions, or have no realislic alternative but to do so.
ROSARIO YOUTH CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MANAGEMENT COMMirrEE OF ROSARIO YOUTH CENTRE Auditor's responsibilities for the audit of the financial statements We have been appointed as audilor under section 65 {2) of the Charitie5 Act (Northem Ireland) 2008 and report in accordance wilh fegulations made under section 66 of that Act. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslatement, 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 nol a guarantee that an audit conducted in accordance with ISAS (UK) will aayS detect a material misslalemenl when it exists. Misstalements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economiG decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are inslances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misslatetnenls in respect of irregularities, including fraud. The extenl to which our procedures are capable of detecling irregularities, including fraud, is delailed 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 material 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 identifying and assessing potential risks of material misstatement in respect of irregularities, inciuding fraud and non-compliances with laws and regulations. we considered the following.. The naturè of the industry and sector, control environment and business performance, including the charity's remuneration policies for management committee, bonus levels and performance targets, if any. Results of our enquiries of management aboul 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.. Identrfying, evaluating and complying with laws and regulations and whether they were aware of any instance of non-complian., Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud., and The internal controls estsblished to mitigate risks of fraud or non-compliance with laws and regulalions., 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 incentives that may exist within the charity for fraud and identified the greatest potential for fraud in income recognition. In common with all audits under ISAS (UK), we are also required to perfomi specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the chartty operates in. focusing on provisions of those laws and regulations that had a direct effect on the deteminalion of material amounts and disclosures in the financial ststements. The key laws and regulations we considered in this context included the Charities Act (Northern Ireland) 2008. In addition, we considered provisions of other laws and regulations that do not have a direct effecl on the financial statements but compliance with which may be fundamental 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 COMMirrEE OF ROSARIO YOUTH CENTRE Audit Tesponse to risks identified Our procedures to respond to the risks idèntified included the following-. Reviewing the financial statement disclosures and testing to supporting doGumer)talion lo assess compliance with provisions of relevant laws and regulations described as having a direct effect on Ihe financial statements., Enquiring of management concerning adual and potential litigation and claims., Performing analytical procedure5 10 identify any unusual or unexpected relationships that may indicate risks of material misstalemenl due to fraud. Reading minutes of meetings of those charged with governance and reviewing correspondence with lax authoritie5', and In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments-, assessing whelher the judgements made in making accounting estimates are indicative of a potential bias-, and evaluating the business rationale of any significanl transadions thal are unusual or outside the normal course Df business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Owing to Ihe inherent limitations of an audit, there is an unavoidable risk thal we may nol have delected some material misstatements in the financial slalements, even though we have properly planned and perfomied our audit in accordance with auditing standards. In addition, as with any audit, there remains a higher risk of non-deteclion of irregularities, as they may involve collusion, forgery, inlenlional omissions. misrepresentations, or the override of internal controls. We are not responsible for prevenling non-compliance and cannot be expected to detect non- ompliance 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 auditols report. 11
ROSARIO YOUTH CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MANAGEMENT COMMIThEE OF ROSARIO YOUTH CENTRE Use of our report This report is made solely to the charity's management committee. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations (Northern 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 auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's trustees a5 a body, for our audit work, for this report, or for the opinions we have formed. GMCG LISBURN Chartered Accountants Statutory Auditor Century House 40 Crescent Business Park Lisbum BT28 2GN 12-
ROSARIO YOUTH CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted fund5 funds 2024 2024 Total 2025 2024 Notes Income and endowments from.. Donation5 and legacies Other trading activities Investments other income 144,334 144,334 32,729 22,100 157,454 157,454 42,386 20,900 8,884 32,729 22,100 42,386 20,900 8,884 Total income 54.829 144,334 199,163 72,170 157.454 229,624 Expenditure on: Charitable activities 53,503 146,615 200,118 62,486 180,898 243,384 Total expenditure 53,503 146,615 200,118 62,486 180,898 243.384 Net incomellexpenditure) 1,326 {2,281J (955) 9,684 {23.444) (13,760) Transfers beeen funds 1996) 996 Net movement in funds 10 1,326 (2,2811 (9551 8,688 (22,448) 113,760) Reconciliation of funds: Fund balances al 1 April 2024 56,039 210,592 266,631 47,351 233,040 280,391 Fund balances at 31 March 2025 57,365 208,311 265,676 56,039 210,592 266,631 The statement of financial aGtivities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aGtivities. 13-
ROSARIO YOUTH CENTRE STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 14 186,133 206,844 Current assets Debtors Cash at bank and in hand 15 4.687 86,487 80,688 91.174 88.134 Creditors: amounts falling due within one year 16 .(11.631) (28,347) Net current assets 79,543 59,787 Total assets less current liabilities 265,676 266.631 The funds of the charity Restricted income funds Unrestricted funds 17 18 208,311 57.365 210,592 56,039 265,676 266,631 The financial slatements were approved by the management committee on behalf by-. nd signed on their Mr Noel Savage Chaimian Mrs Siobhan McKee Chairnian 14-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity information Rosario Youth Centre is an unincorporated charity registered in Northern Ireland. The registered office and placé of business is 469 Ormeau Road, Belfast, BT7 3GR. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's constitution, Ihe Charities Act 2D11 and 'Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} {effective 1 January 2019)" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of Ihe provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not lo prepare a Statement of Cash Flows. The financial slalements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial ststements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policie5 adopted are set out below. 1.2 Going concern At the lime of approving the financial statements, Ihe management Gommittee have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus Ihe 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 at the discretion of the management committee in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the reslricted funds are set out in the noles to Ihe financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it afier any performance conditions have been met, the amounts Gan be measured reliably, and it is probable that income will bè 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 is credited lo the Statement of Financial Aclivilies in accordance with the terms of the letter of offer. Revenue grants are credited to the Statement of Financial Activities in accordance with the terms of the letter of offer. Income is deferred when it does not meel the criteria for recognition as in¢oming resources in the Slalemenl of Financial Activities, as entillement does not exist al 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. 11 includes bolh costs that can be allocated directly to such activities and Ih05e costs of an indirect nature to support them. 15-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) Support costs are those functions that assist work of the charity but do not directly 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 al cost or valuation, net of dèpreciation and any impairment 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 frttings 50/0 Straight Line 25010 or 33.33Q/o Straight Line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statèment 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 or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Financial instruments The charity has elecled to apply the provisions of Section 11 'Basic Financial Instrumenls. and Section 12 'Othèr Financial Instruments Issues, of FRS 10210 all of its financial instruments. Financial instruments are recognised in the charty's balance sheet when the Charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when thère is a legally enforceable right to set off the recognised amounts and Ihere is an inlention to settle on a net basis or to realise the asset and settle 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 constitules 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 dassified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including credttors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the dèbt 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 amortlsed cost, using the effective interest rate method. Trade credilors are obligations lo pay for goods or sejvlS that have been acquired in the ordinary Course of operations from suppliers. Amounts payable are classtfied as current liabilities if payment is due wilhin one year or less. If not, Ihey are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the èffective interest method. 16
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) Derecognition of financial liabilities 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 enlillement is recognised in the period in which Ihe employee's services are received. Termination benefits are recognised immediately a5 an expense when the charity is demonstrably Gommitted to terminate the employment of an employee or to provide termination benefits. Critical accounting estimates and judgements In the application of the charity's accounting policies, the management committee are required to make judgements, estimates and assumption5 about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimates 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 eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Key sources of Èstimation uncertainity Fixed assets The annual depreciation charge on fed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The directors regularly review these assets lives and change them as necessary lo reflect current thinking on remaining lives in light of prospective economic utilisalion and physical condition of the assets concerned. Changes in assets live5 Can have a significant impact on depreciation charges for the period. DelaiS of the useful lives is included in the accounting policies. Restricted and unrestricted funds Judgements are made in relation lo allocalion of income and expenditure to restricted and unrestricted funds. The directors consider it appropriate to allocatp these funds based on interpretation of donations received. 17-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Donations and legacies Restricted funds Restricted funds 2025 2024 Income for charitable acttvites 144,334 157,454 144,334 157,454 Grants receivable for core activities EA Core Funding EA Lo¢al Project E4 Planned Inlervention EA T BUC Camp Programmes Belfast City Council EA Youth Sèrvice Youth Justice Agency EA Small Grant Halifax Victoria Home McAdam Communty Investment Scheme Clanmill Housing 99,160 21,175 5.536 5.136 1,500 1,000 4,422 805 96,823 24,915 5,955 3,490 3,650 1,850 3,750 22.621 144,334 157,454 Income from other trading activities Unrestricted Unrestricted funds funds 2025 2024 Shop and other cenlre income 32,729 42,386 Income from investments Unrestricted Unrestricted funds funds 2025 2024 Rental income 22.100 20,900 18-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THEYEAR ENDED 31 MARCH 2025 Other income Unrestricted UnrÈstri¢ted funds funds 2025 2024 Nel gain on disposal of tangible fixed assets 8,884 Expenditure on charitable activities 2025 2024 Direct costs Staff costs Depreciation and impairment Youth club expenses 110,865 20,711 24,348 138,717 23,644 30,524 155.924 192,885 Share of support and governance costs (see nots 91 Support Governance 40,534 3.660 48.339 2,160 200,118 243,384 Analysis by fund Unrestricted funds Restricted funds 53,503 146,615 62,486 180,898 200,118 243.384 Description of charitsble activities Charitable activities To improve the conditions of life for children and young people within the local community through the provision of aflernoon, evening and weekend programmes of youth based activity that is informed in its nature, structured, focused and outcome based. 19
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to activities 2025 2024 Heat & light Postage & ststionery Telephone & computer costs Insurance Advertising Legal & professional Repairs & maintenance Sundry Bank charges Shop purchases Charitable donalions Minibus expenses Governance costs 14,903 413 2,019 1,257 435 770 18,896 1,168 162 511 15,367 646 1.176 1,091 20,666 4,766 1,550 136 1,012 1.900 29 2,160 3.660 44,194 50.499 Analysed between: Charitable activities 44,194 50.499 2025 2024 Governance costs comprise: Audtt fees Accountancy 2,340 1,320 2.160 3,660 2,160 10 Net movement in funds 2025 2024 The net movement in funds is ststed after chargingl(crediting): Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fLxed assets Lossllprofit) on disposal of tangible fixed assets 2.340 20,711 2,160 23.644 18,884) 11 Management Committee None of the management committee lor any persons connected with them) received any remuneration or beneffls from Ihe charity during the year. -20-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number 10 11 Employment costs 2025 2024 Wages and salaries Social security costs 108,565 2.300 135,242 3,475 110,865 138,717 There were no employees whose annual remuneration wa5 more than £60,000. 13 Taxation The charity is exempt from taxation on its activities because all ils income is applied for charitable purposes. 14 Tangible fixed assets Leasehold Flxtures and land and fitting5 bulldlnys Total Cost At 1 April 2024 331,591 49,668 381,259 At 31 March 2025 331,591 49,668 381.259 Depreciation and impairment At 1 April 2024 Depreciation charged in Ihe year 132,429 16,580 41.986 4,131 174,415 20,711 Al 31 March 2025 149.009 46,117 195,126 Carrying amount At 31 March 2025 182,582 3,551 186,133 At 31 March 2024 199,162 7,682 206,844 21
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Debtors Amounts falling due within one year: 2025 2024 Trade debtors Other debtors 1,874 2,813 3,748 3,698 4,687 7,446 16 Creditors: amounts falling due within one year 2025 2024 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 3,218 3,925 396 4,092 2,278 18,392 207 7.470 11.631 28,347 17 Restricted funds The restricted funds of the charity comprise the unexpended balan¢es of donations and grants held on trust subject to specific condttions by donors as to how they may be used. At 1 April 2024 Incoming Resources resources expended Transfers At 31 March 2025 EA Local Youthstart DE Capital Funding EA Planned Intervèntion EA Local Project EA Core Funding Belfast City Council EA Small Grants EA TEO TBUC EA Youth SeNice Youth Justice Agency Victoria Homes Trust McAdam Community Investment Scheme Ethiopia Trip EA Equipment 585 199,162 (585) (16.580) (5,536) (18,105) (95,446) (1.500) (805) (5,136) 182,582 5,53S 21.175 99.160 1,500 805 5.136 1,000 4,422 1,850 3.070 3.714 1,000 4.422 1,850 3,750 3,750 5.000 2.923 5.000 5.845 12,922) 210,592 144.334 (146,615) 208,311 -22-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Restricted funds (Continued) Previous year: At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 EA Local Youlhslart EA Local Funding EA Summer Scheme Belfast City Council Department of Education Ethiopia Trip EA Local Project Clanmill Housing EA Equipment Halifax EA Planned Inlervention 1,250 (1,6611 196,823) (1.8SO) (3,490) 116,580) 996 585 96,823 1.860 3,490 215,742 5,000 199,162 5,000 24,915 22,622 (24.915) (23,045) {2,9201 13.650) (5.954) 423 8,765 5,845 3,650 5.954 233,040 157,454 (180,8981 996 210,592 EA Local Youthstart restart project fund To assist with the assessed needs of the organisation and young people in line with Ihe return of face-lo-face interaction and programming in relation lo staffing and resources Department of Education To provide capilal funding to improve premises used for the benefit of young people. EA Planned InteNention To provide engagement, 5UPPOrt. and programming to young people at risk from engaging in anti-social and risk-taking behaviour, particularly interface violence to reduce the likelihood of becoming further 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 Specrfication. EA Core Funding To cover the costs associated with a Soare license to utilise an effective management information syslem for the purposes of recording information and reporting on outcomes. Belfast City Council To provide funding towards the youth mentoring programme. EA Small Grants To provide young people with the opportunity lo plan and undertake a social action project focusing on litter control recycling within the centre and their local community. EA TEO TBUC Provide a good relations programme that encourages and promotes respect, tolerance, and acceptance towards difference, with a view lo improving local community relations and further create palhways for inclusion. EA Youth Service To provide a range of targeled interventions and programmes for children and young people within the Botanic DEA that breaks down barriers lo inclusion in youlh services for those who idenlify as newcomer and or BAME for the period April 2024- March 2025. -23-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Restricted funds (Continued) Youth Justice Agency Provide an earlier stage diversion programme to young people through community support. assisting them to make positive decisions through active participation in decision making preventing them from becoming involved in the youth justice system. Wjctoria Hornes Trust Creation of a social action-based programme focusing on personal responsibility and self-care to encourage positive choices, life styles and future prospects. M¢Adam Community Investment Scheme Creation of a health and well-being hub utilising unused space wtthin the grounds at the rear of the youth centre that promotes a sense of positive mental health, resilience and enUragÉS active involvement within the local community. Ethiopia Trip To provide funding for a project trip to Ethiopia. This trip has been postponed due to COVID-19. EA Equipment To provide funding forthe purchase of IT equipment 18 Unrestricted 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 out of unrestricted funds by the trustees for specific purposes. At 1 April 2024 Incoming resources Resources expended Transfers At 31 March 2025 Estate of Eleanor Mulholland General funds 30,421 25,618 (13.259) (40,244) 17,162 40,203 54,829 56,039 54.829 153,503) 57.365 Previous year: At 1 April 2023 Incoming resource5 Resources expended Transfers At 31 March 2024 Estate of Eleanor Mulholland General funds 30,421 16,930 30,421 25.618 72,170 (62,486) 1996) 47,351 72,170 162.486) (996) 56,039 These funds are to be used for the purposes of the charity's objectives. -24-
ROSARIO YOUTH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Analysis of net assets between funds Unrestricted funds 2025 Restricted funds 2025 Total 2025 At 31 March 2025: Tangible assets Current assetsllliabilitiesl 630 56,735 185,503 22,808 186,133 79,543 57,365 208.311 265,676 Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assets/lliabilitiesl 1,248 54,791 205,596 4.996 206,844 59,787 56,039 210,592 266,631 20 Financial commitments, guarantees and contingent liabilities Funding from Department of Education has been secured against the 25 year lease on the property. 21 Operating lease commitments At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: 2025 2024 Within one year Between two and five years 811 2,164 584 308 2,975 892 -25-