PLAYBOARD NORTHERN IRELAND Company Limited by Guarantee Financial Staternents Year Ended 31 March 2024 Cornpany No.. N1030225 Charity No: NIC104724
PLAYBOARD NORTHERN IRELAND Company Limited by Guarantee Table of Contents Year Ended 31 March 2024 Page Company Information Report of the Trustees Independent Auditors Report lo the members 17 Statement of Financial Activities 20 Balance Sheet 21 Cash flow slalement 22 Notes to the Financial Statements 23-29
PLAYBOARD NORTHERN IRELAND Company Limited by Guarantee Statement of Financial Activities (incorporating an income and expenditure account) Year Ended 31 March 2024 Total Funds Total Funds 2024 2023 Unrestricted Restricted Notes Income and endowrnents from: Charitable Activities 139,438 446.874 586,312 932,656 Investments 3.385 3.385 636 Total Income and endowments 142,823 446.874 589,697 933,292 Expenditure on: Charitable Activities 1220.568) {474,9491 (695.5171 1965,3351 Total Expenditure {220,568) (474.9491 1695.5171 1965.335) Net expenditure for the year before transfers 177,7451 (28.075) {105,820) (32,043) Transfers between funds {28,0751 28,075 Net movement in funds 1105.820) {105.820) 132.043) Reconciliation of funds: Total funds brought forward 1.560,353 1,560,353 1.592,396 Total Funds Carried Fonvard 14115 1.454.533 1.454.533 1,560.353 All income derives from continuing actiwlies. therefore no statement of recognised gains or losse5 is given. The notes on pages 23 10 29 form part of these financial statements. 20
PLAYBOARD NORTHERN IRELAND Company Limited by Guarantee Balance Sheet as at 31 March 2023 Note 2024 2023 Flxed Assets Tangible assets 10 875,908 904,392 Current Assets Debtors Cash at bank and in hand 11 114,709 474,010 588.719 261,464 410.906 672,370 Creditors= amounts falling due within one year 12 10,094 16,409 NET CURRENT ASSETS 578,625 655.961 NET ASSETS 1,454,533 1,560,353 Represented by: Unrestricted Funds 14 1,454.533 1,560.353 Restrl¢ted Funds 15 1,454.533 1.560.353 These financial statements have been prepared in accordance with the provsisions applicable to companies subject to the small companies regime. These financial statements were approved by the members of the committee and authorised for issue on the and are signed on their behalf by.. Stuart Buchanan Trustee Company Registration Number N1030225 The notes on pages 23 to 29 form part of these financial statements. 21
PLAYBOARD NORTHERN IRELAND Company Limited by Guarantee Statement of Cashflow as at 31 March 2024 Note 2024 2023 Cash generated from/ (usgd inj operating activities 17 63,103 {112,979) Cash flows from Investsng activities Payments to acquire fixed assets (7491 Net cash flow from investing activities 1749) Increasel (decrease) in cash and cash equivalents in the year 63,103 1113,7281 Cash and cash equivalents at beginning of period 410,907 524,634 Cash and cash equivalents at end of period 474.010 410.907 The notes on pages 23 to 29 form part of these financial statements. 22
PLAYBOARD NORTHERN IRELAND Company Limited by Guarantee Notes to the Financial Statements for the period ended 31 March 2024 1 ACCOUNTING POLICIES The principal accounting policies adopted. judgements and key sources of estimation uncertainly in the preparation of the financial stalemenls are as follows: al Basis of pParatIOn The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191- (Charities SORP IFRS 1021). the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, the Charities Act {Northern Ireland) 2008 and the Companies Act 2006. Playboard Northern Ireland meets the definition of a public benefit entity under FRS 102. The Charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK & ROI.. the requirements of Section 3 Financial Statement Presentation paragraph 3.17(dl', the requirements of Section 11 Financial Instruments paragraphs 11.42. 11.44 to 11.45, 11.47, 11.481a)liiil, 11.48la){ivl, 11.48{bl and 11.48lc)', bl Preparation of the accounts on a going concern basis The activities of the charity were impacted slightly by the effects of Covid in the financial year ended 31 March 2024. However, the trustees are of the view that they have responded pro-actively throughout and the measures taken during the year to reduce costs and continue lo secure future funding has meant that the charity has been well placed to manage Ihe uncertainty going forward. The trustees believe that sufficient resources and future funding will be available to support the charitls ability lo continue as a going concern. even with the uncertainty of a fijnctioning Execub've and local Assembly impacting significantly on both service funding and policy development, PlayBoard have ensLJred that there are appropriate levels of reserves lo enable il lo deal with an expected reduction of income or unforeseen circumstances. cl Fund Accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. General funds may be transferred to designated funds where Tnjstees wish to use these funds for a specific purpose. Such funds may be transferred back to general funds once the criteria for the designation have been met or are no longer applicable. Restricted funds are funds which are lo be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of restricted funds is set out in the noles to the financial slatemenls. Restricted funds may only be transferred lo general or designated funds once the criteria for restriction have been discharged or no longer apply. d} Income Recognitlon Pollcies Items of income are recogni5ed and included in the accounts when all of the following criteria are mel.. The charity has entillemenl to the funds- any performance conditions attached to the item of income has been mel or are fully within the control of the charity-, there is sufficient certainty that receipt of the income is considered probable. 23
PLAYBOARD NORTHERN IRELAND Company Limited by Guarantee Notes to the Financial Statements for the period ended 31 March 2024 1 ACCOUNTING POLICIES Icontinugd) e) Interest Receivable Interest on funds held on deposit is included when receivable and the amount can been measured reliably. fj Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment lo a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Expenditure on charitable activities includes the costs of activities undertaken to further the purposes of the charity and their associated support costs Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. g} Allocation of support cost$ Support costs are those functions that assist the work of the charity but do not directly undertake charitable aclivilies. Support costs include back office costs, finance. personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated to expenditure on charitable activities. h) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening the deposit or similar account. il Tangible Fixed Assets Individual fixed assels are capitalised al cost and are depreciated over their estimated useful economic lives on a straight line basis as follows.. Asset Category: Annual Rate Freehold Property 2/0 Fixtures, fittings and equipment 25/ The carrying values of tangible fixed assets are reviewed for impairment when events or circumstances indicate the carrying value may nol be recoverable j) Debtors Trade and other debtors are recognised al the settlement amount due after any trade discount offered. Prepayments are valued al the amount prepaid after taking account of any trade discount due. k) Creditors and Provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and th6 amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 11 Financial Instruments The Charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. 24
PLAYBOARD NORTHERN IRELAND Company Limited by Guarantee Notes to the Financial Statements for the period ended 31 March 2024 1 ACCOUNTING POLICIES {continuedl m) Financial instruments (continued) instruments are recognised in the Charity's balance sheet when the Charity becomes party lo the conlraclual provisions of the inslrumenl. Financial assets and liabilities are offset. the nel amounts are presenled in the financial 51atemenls, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo settle on a net basis of to realise the asset and sellle the liability simultaneously. Basic financial assets Basic financial assets. which include debtors, cash and bank balances. are initially measured al 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 al the present value of the fulure recèipts discounted al a market rate of interest. Financial assets classified as receivable within one year are not amorbsed. Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised al transaction price unless the arrangement constitutes a financing transaction, where the debt instruments is measured al the present value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequendy carried al amortised cost. using the effective interesl rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non current liabilities. Tmde creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method. Derecognition of financial Ilabilities Financial liabilities are derecognised when the CharitS contractual obligations expire or are discharge or cancelled. n) Pensions The company operates a defined contribution pension scheme. Contributions are charged in the statement of financial activities as they become payable in accordance with the rules of the scheme. ol Taxation extent that income andlor gains are applicable and applied lo charitable purposes only. These exemptions will rernain in place as long as income and expenditure is applied lo charitable purposes only. p) Critical accounting estimates and judgements In the application of the Charitys accounting policies. the Trustees are required lo make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other source5. The eslimales and associated assumptions are based on historical experience and other factors that a considered to be relevant. Actual results may differ from these estimates. The eslimales and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales 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. 25
PLAYBOARD NORTHERN IRELAND Company Limited by GuarantO0 Notes to the Financial Statements for the period ended 31 March 2024 2 Income fn>m Charitable ktivitles Total Funds 2024 Total Funds 2023 Unrestricted R•strleted Education Authority- Youth @ Play and PYP Posits've Playgrounds Sal85 Play Delivery Childcare Partn8r5hip HSCB 8righf Slari Grant P88ce IV- Our Generation Department ol Edu¢atson DE Consult 107.548 2.250 1.491 125.541 62.461 120,000 245.756 267,609 4,553 1,223 121.199 7.532 4,553 1,223 121,199 67.532 120.000 135,874 131,000 4,931 4.931 139.438 446,874 586,312 932,656 The 2023 balance of £932,656 was split beiween Sttted funds of £800,913 and unreslricled funds of £131,743. 60,000 120,000 135.874 131,000 3 Investmènt Income Total Funds 2024 Total Funds 2023 UnreSt¢t•d Restri¢led Bank Intest R8CelV8ble 3,385 3.385 636 The 2023 balance of£636 was all unrestrieted funds. 4 Results for the year The Slts for th8 year has been arrFved at after charging Ihe followng.. 2024 2023 Staff Pension Contributions Depreciation Auditors Remuntrration 39.817 28.484 5,760 53.299 33,427 5,580 S Analysis of expenditure on charitable actTrvities: Total Funds Total Funds 2024 2023 Unrestrlcted Restricted Thematic Support HSCB Bright Start Grant School Aged Children Wotklorce and Play Development Ytsuth @ Play Our Generation Childcare Partnership ROI Department of Education Support Costs (see Note 61 Govemance Costs (see Note 6} 28.484 28,484 115.502 35,920 115,502 207.306 104.605 101,155 226,964 135,629 5,000 140,629 111.863 55.955 111,863 55,955 26,006 131.335 131,335 192.127 27.266 50.303 77,569 88,334 3.184 4.991 8,175 8.924 220.568 474,949 695.517 965,335 The 2023 balance of £965.335 was split between restricted fvnds of £814.744 and unrestricted funds of £150.961. 26,006 26
PLAYBOARD NORTHERN IRELAND Company Llmited by Guaranteg Notes to the Financial Statement5 for the period ended 31 March 2024 6 Analysis of govqrnance and gUPPOrt costs= The charity initially identif18s the costs ol ils support functions. 11 then identifies thos& cost5 which Telate to the govemanc8 function. Govérnance costs and other support costs are apportioned separatèly b81ween the charilable activity undertaken in the period. Refer lo the table below for th8 basis for apportionment and analysis ol support and governance costs. Gontral Support Govemanc• Function Unrestricted Restricted Unrestricted Restricted Totsl Funds Total Funds 2024 2023 Thematic Support HSCB Bright Start Grant School Aged Children Workforce and Play Developrnenl Childcare Partnership Youth Play Department of Education Our Generation 16,702 16,668 1,459 18,127 15,605 22,4S4 27,266 3.184 30,450 4.947 4.477 470 16.332 4.112 22,054 8,790 20,368 969 2,093 9,759 22,461 7 Analysls ol staff costs: 2024 2023 Salaries and Wages Employers National Insurance Other Pension Costs 470,070 47.940 20.319 660.586 64,858 27,032 52, No employees had emoluments (including employers contributions) been £70.000-£80.000.12023.' None) One employee had emoluments (including employers contributs.onsl b8tW8en £60,000-£70,000.12023.. On81 The key management personnel of thè charity comprise the Trust8es, th8 Chair, the Chief Executive orri¢er. the director of Corporate Services & Finance and lh8 Director of Service Delivery & Development. 8 Staff Numbers The average monthly number of employees during the year was.. 2024 Number 14 2023 Number 16 Number ol Project Staff Nutnber of Administrative Staff Number of senior managemenl staff Number of finance staff 20 23 TRUSTEES. EMOLUAIENTS The charity Tru5tee5 were not paid or received any other bentfits from ernployThent with the charity in the year12023'. £nill nelther were they reimbursed expense5 during the year12023.' £nill. No charity Trustee received payment for professional or olher services supplied lo the charity12023.. £nill. 27
PLAYBOARD NORTHERN IRELAND Company Limited by Guarantee Notes to the Financial Statements for the period ended 31 March 2024 9 Related Party Transactions The charity was under the control of the board of Iruslees through out Ihe year. The are no lated party Irar15aclions to disclos¢ under FRS 102. None of the Truslees receive remuneration or other benefit from Iheir work with the charity. Any connection beiween a Trustee OT senior manager of the charily with organisalions the charily works with musl be disclosed to the full Board of Trustees in the same way as any other contractual relationship with a related party. During the period PlayBoard Northem Ireland did not enter into any transactions with related parties. 10 Tan9lblè Fix¢d Assets Fr¢ohold Fixtures & Property Fittings Total Cost.. AS 811 April 2023 Addition5 Disposals As at 31 March 2024 1,215.249 132,825 1,348,074 1,215.249 132,82S 1,34B,074 Depre¢iatiori'. As at 1 April 2023 Chargè for the year Depn on disposal As al 31 March 2024 316,323 24.404 127,359 4,080 443.682 28.484 340.727 131,439 472.166 Nel Book Value As at 31 March 2023 898.926 5,466 904,392 A¥ at 31 March 2024 874,522 1,386 875,908 11 Dèbtors 2024 2023 Trade Debtors Gpnts Receivable Prepayments and accrued in¢ome 34,806 79,831 71 114,709 589 260,875 261,464 12 Creditors. amounts falllng duè wlthin on¢ •r 2024 2023 Trade Creditors A¢¢ru81s and Deferred Incorne 3.894 6,200 10,094 3.266 13,143 16,409 28
PLAYBOARD NORTHERN IRELAND Company Limited by Guarantee Notes to tho Financlal Statements for the period ended 31 March 2024 13 Credltors.. amount5 falling due withln one year Movemen ncome As al 1 April 2023 Resources deferred during the year Amounts leaSed frorn previous years As at 31 March 2024 7,563 17.5631 14 Analysls of Movements in Unre5trictsd Funds Opening Balance Asat31 March 2024 Income Exp•nditure Transfers Unrestrfet•d funds Gen8ral funds- all funds Designated Funds 428,566 1,131.787 142.824 1196.1641 124,4051 128,0751 347,151 3.107,382 Total 1.560,353 142.824 1220.5691 128.0751 1,454,533 15 Analysls of Movements in Restrlctsd Funds Opening Balance Asat31 March 2024 Incorne Expenditure Transfers Childcare Partnership Department of Education HSCB 8righl Start Grant Peace IV- Our Generats"on 60,000 131.000 120.000 135,874 160.9021 1141,0941 {133,6291 1139.3241 902 10,094 13.629 3,450 Total 446,874 1474.9491 28,075 16 Analysls of net assets betsyeen funds Tangibl• Fixad Assets Not Currant Asse¢s 2024 2023 Unrestrfded Funds: General Funds Designated Funds Total Unrestricted Funds 1.386 874.522 875,908 345,765 232,861 578.626 347,151 1.107,383 1,454,533 428.566 1131787 1.560.353 Total Re$lricted Funds Tolal 875,908 578.626 1.454.533 1,560,353 17 R¢¢onclllatlon of net cash movement In funds to net cash flow frorn opgrating actlvltles 2024 2023 Nèt movement in funds Depreciation charg8 Decrease I lincreasel in dèbtors ID8creasel I InCaSe in cr8diiors 1105,8201 28.484 146,754 6,314 130.1661 34.103 3,095 87,805 Nel Cash g8n8raled froml (used inl operaling actwilie5 63.103 80.773 29