Charity Number: NIC104795
St Marys Youth Centre
Annual Report and Unaudited Financial Statements for the financial year ended 31 March 2021
St Marys Youth Centre CONTENTS
Page Trustees' and Other Information 3 Trustees' Report 4 Statement of Trustees' Responsibilities 5 Independent Examiner's Report 6 Statement of Financial Activities 7 Balance Sheet 8 Notes to the Financial Statements 9 – 13 Supplementary Information relating to the Financial Statements 14 - 15
2
St Marys Youth Centre TRUSTEES' AND OTHER INFORMATION
Charity Number in Northern Ireland
NIC104795
Principal Address
St Marys Youth Centre Obins Street BT62 1BT Northern Ireland
Independent Examiner
MG accountants Chartered Accountants and Registered Auditor (Portadown) 25-27 Carleton Street Co. Down BT62 3EP Northern Ireland
3
St Marys Youth Centre TRUSTEES' REPORT
for the financial year ended 31 March 2021
The trustees present their Trustees' Report and the unaudited financial statements for the financial year ended 31 March 2021.
The financial statements are prepared in accordance with the Charities Act (Northern Ireland) 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The Trustees' Report contains the information required to be provided in the Trustees' Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the company are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees.
In this report the trustees of St Marys Youth Centre present a summary of its purpose, governance, activities, achievements and finances for the financial year 31 March 2021.
The charity is a registered charity and although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements.
Financial Review
The results for the financial year are set out on page 15 and additional notes are provided showing income and expenditure in greater detail.
Results and Dividends
At the end of the financial year the charity has assets of £69,513 (2020 - £68,302) and liabilities of £3,108 (2020 - £3,026). The net assets of the charity have increased by £1,129.
In accordance with the Constitution, the trustees retire by rotation and, being eligible, offer themselves for re-election.
Compliance with Sector-Wide Legislation and Standards
The charity engages pro-actively with legislation, standards and codes which are developed for the sector. St Marys Youth Centre subscribes to and is compliant with the following:
- The Charities SORP (FRS 102)
Approved by the Management Committee on ________ and signed on its behalf by:
________
________
4
St Marys Youth Centre STATEMENT OF TRUSTEES' RESPONSIBILITIES
for the financial year ended 31 March 2021
The trustees are responsible for preparing the financial statements in accordance with applicable law and regulations.
The law applicable to charities in Northern Ireland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the assets, liabilities and financial position of the charity as at the financial year end date and of the surplus or deficit of the charity and otherwise comply with the Charities Act (Northern Ireland) 2008.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP
-
make judgements and estimates that are reasonable and prudent;
-
state whether the financial statements have been prepared in accordance with the relevant financial reporting framework, identify those standards, and note the effect and the reasons for any material departure from those standards; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees confirm that they have complied with the above requirements in preparing the financial statements.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Management Committee on ________ and signed on its behalf by:
________
________
5
St Marys Youth Centre INDEPENDENT EXAMINER'S REPORT TO THE MANAGEMENT COMMITTEE OF ST MARYS YOUTH CENTRE
We have examined the financial statements of the charity for the financial year ended 31 March 2021, which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
This report is made solely to the charity's members, as a body, in accordance with the Charities Act (Northern Ireland) 2008. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Management Committee that we have done so, and state those matters that we have agreed to state to them in this 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 members, as a body, for our work, or for this report.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act (Northern Ireland) 2008. The charity's trustees consider that an audit is not required for this financial year under the Charities Act (Northern Ireland) 2008 and that an independent examination is required.
-
It is our responsibility to:
-
examine the financial statements under section 65 of the Charities Act;
-
follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and
-
state whether particular matters have come to our attention.
Basis of independent examiner's report
We have examined your charity financial statements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
In connection with our examination, no matter has come to our attention which gives us cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 63 of the Charities Act
-
the financial statements do not accord with those accounting records
-
the financial statements have not been prepared in accordance with the 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 (FRS102)
-
there is further information needed for a proper understanding of the accounts to be reached.
__________
MG ACCOUNTANTS
Chartered Accountants and Registered Auditor (Portadown) 25-27 Carleton Street Co. Down BT62 3EP Northern Ireland
Date: ...............................
6
St Marys Youth Centre STATEMENT OF FINANCIAL ACTIVITIES
for the financial year ended 31 March 2021
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|Funds|Funds|Funds|Funds|
|2021|2021|2021|2020|2020|2020|
|Notes|£|£|£|£|£|£|
|Income|
|Charitable activities|
|- Grants from governments|3.1|-|155,960|155,960|-|172,874|172,874|
|and other co-funders|
|Other trading activities|3.2|4,792|-|4,792|18,482|-|18,482|
|Other income|3.3|258|-|258|5,181|-|5,181|
|─────── ─────── ─────── ─────── ─────── ───────|
|Total income|5,050|155,960|161,010|23,663|172,874|196,537|
|─────── ─────── ─────── ─────── ─────── ───────|
|Expenditure|
|Raising funds|4.1|150|-|150|1,354|-|1,354|
|Charitable activities|4.2|16,063|143,668|159,731|24,985|173,965|198,950|
|Other expenditure|4.3|-|-|-|-|-|-|
|─────── ─────── ─────── ─────── ─────── ───────|
|Total Expenditure|16,213|143,668|159,881|26,339|173,965|200,304|
|─────── ─────── ─────── ─────── ─────── ───────|
|Net income/(expenditure)|(11,163)|12,292|1,129|(2,676)|(1,091)|(3,767)|
|Transfers between funds|-|-|-|-|-|-|
|─────── ─────── ─────── ─────── ─────── ───────|
|Net movement in funds|(11,163)|12,292|1,129|(2,676)|(1,091)|(3,767)|
|for the financial year|
|Reconciliation of funds|
|Balances brought forward at|12|15,522|49,754|65,276|18,198|50,845|69,043|
|1 April 2020|
|─────── ─────── ─────── ─────── ─────── ───────|
|Balances carried forward|4,359|62,046|66,405|15,522|49,754|65,276|
|at 31 March 2021|
|═══════ ═══════ ═══════ ═══════ ═══════ ═══════|
----- End of picture text -----
The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities.
The notes on pages 9 to 14 form part of the financial statements
7
St Marys Youth Centre BALANCE SHEET
as at 31 March 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Current Assets | |||
| Stocks | 8 | - | 150 |
| Debtors | 9 | 5,449 | 16,262 |
| Cash at bank and in hand | 64,064 | 51,890 | |
| ─────── | ─────── | ||
| 69,513 | 68,302 | ||
| ─────── | ─────── | ||
| Creditors: Amounts falling due within one year | 10 | (3,108) | (3,026) |
| ─────── | ─────── | ||
| Net Current Assets | 66,405 | 65,276 | |
| ─────── | ─────── | ||
| Total Assets less Current Liabilities | 66,405 | 65,276 | |
| ═══════ | ═══════ | ||
| Funds | |||
| Restricted trust funds | 62,046 | 49,754 | |
| General fund (unrestricted) | 4,359 | 18,198 | |
| ─────── | ─────── | ||
| Total funds | 12 | 66,405 | 65,276 |
| ═══════ | ═══════ |
Approved by the Management Committee and authorised for issue on ________ and signed on its behalf by
________
The notes on pages 9 to 14 form part of the financial statements
8
St Marys Youth Centre NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2021
1. GENERAL INFORMATION
St Marys Youth Centre is a charity incorporated in Northern Ireland. The registered office of the charity is St Marys Youth Centre, Obins Street, BT62 1BT, Northern Ireland which is also the principal place of business of the charity. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the charity.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements.
Basis of preparation
The financial statements have been prepared on the going concern basis under the historical cost convention. The financial statements have been prepared in accordance with the Charities Act (Northern Ireland) 2008 and the Charities SORP (FRS 102).
Statement of compliance
The financial statements of the charity for the financial year ended 31 December 2017 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard.
Fund accounting
The following are the categories of funds maintained:
Restricted funds
Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity.
Unrestricted funds
Unrestricted funds consist of General and Designated funds.
-
General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity.
-
Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund.
9
continued
St Marys Youth Centre NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2021
Income
Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity.
Income from charitable activities
Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors.
Grants from governments and other co-funders typically include one of the following types of conditions:
- Performance based conditions: whereby the charity is contractually entitled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by the donor, as income.
-Time based conditions: whereby the charity is contractually entitled to funding on the condition that it is utilised in a particular period. In these cases the charity recognises the income to the extent it is utilised within the period specified in the agreement.
In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the charity is notified of entitlement.
Grants received towards capital expenditure are credited to the Statement of Financial Activities when received or receivable, whichever is earlier.
Expenditure
Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocated to activities in proportion to staff time spent or other suitable measure for each activity.
Inventories
Inventories are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all costs incurred in the normal course of business in bringing them to their present location and condition. Inventories comprise fundraising materials. It is not considered practicable to value inventories of unsold donated goods at the financial year end.
Debtors
Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from government agencies and other co-funders, but not yet received at financial year end, is included in debtors.
Cash at bank and in hand
Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal.
10
continued
St Marys Youth Centre NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2021
| 3. | INCOME | |||||
|---|---|---|---|---|---|---|
| 3.1 | CHARITABLE ACTIVITIES | Unrestricted | Restricted | 2021 | 2020 | |
| Funds | Funds | |||||
| £ | £ | £ | £ | |||
| Income from charitable activities | - | 155,960 | 155,960 | 172,874 | ||
| ═══════ | ═══════ | ═══════ | ═══════ | |||
| 3.2 | OTHER TRADING ACTIVITIES | Unrestricted | Restricted | 2021 | 2020 | |
| Funds | Funds | |||||
| £ | £ | £ | £ | |||
| Other trading activities | 4,792 | - | 4,792 | 18,482 | ||
| ═══════ | ═══════ | ═══════ | ═══════ | |||
| 3.3 | OTHER INCOME | Unrestricted | Restricted | 2021 | 2020 | |
| Funds | Funds | |||||
| £ | £ | £ | £ | |||
| Other income | 258 | - | 258 | 5,181 | ||
| ═══════ | ═══════ | ═══════ | ═══════ | |||
| 4. | EXPENDITURE | |||||
| 4.1 | RAISING FUNDS | Direct | Other | Support | 2021 | 2020 |
| Costs | Costs | Costs | ||||
| £ | £ | £ | £ | £ | ||
| Raising funds | - | - | 150 | 150 | 1,354 | |
| ═══════ | ═══════ | ═══════ | ═══════ | ═══════ | ||
| 4.2 | CHARITABLE ACTIVITIES | Direct | Other | Support | 2021 | 2020 |
| Costs | Costs | Costs | ||||
| £ | £ | £ | £ | £ | ||
| Expenditure on charitable activities | - | - | 159,731 | 159,731 | 198,950 | |
| ═══════ | ═══════ | ═══════ | ═══════ | ═══════ | ||
| 4.3 | OTHER EXPENDITURE | Direct | Other | Support | 2021 | 2020 |
| Costs | Costs | Costs | ||||
| £ | £ | £ | £ | £ | ||
| Other expenditure | - | - | - | - | - | |
| ═══════ | ═══════ | ═══════ | ═══════ | ═══════ | ||
| 4.4 | SUPPORT COSTS | Charitable | Other | 2021 | 2020 | |
| **Activities ** | Expenditure | |||||
| £ | £ | £ | £ | |||
| Support | 16,063 | 143,668 | 159,731 | 198,950 | ||
| ═══════ | ═══════ | ═══════ | ═══════ | |||
| 5. | ANALYSIS OF SUPPORT COSTS | |||||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Support | 159,731 | 198,950 | ||||
| ═══════ | ═══════ | |||||
| 6. | NET INCOME | 2021 | 2020 | |||
| £ | £ | |||||
| Net Income is stated after charging/(crediting): | ||||||
| Operating lease rentals | ||||||
| - Land and buildings | 5,428 | - | ||||
| ═══════ | ═══════ |
11
continued
St Marys Youth Centre NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2021
| 7. | EMPLOYEES AND REMUNERATION | EMPLOYEES AND REMUNERATION | |||||
|---|---|---|---|---|---|---|---|
| The staff costs comprise: | 2021 | 2020 | |||||
| £ | £ | ||||||
| Wages and salaries | 44,300 | 44,344 | |||||
| ═══════ | ═══════ | ||||||
| 8. | STOCKS | 2021 | 2020 | ||||
| £ | £ | ||||||
| Finished goods and goods for resale | - | 150 | |||||
| ═══════ | ═══════ | ||||||
| 9. | DEBTORS | 2021 | 2020 | ||||
| £ | £ | ||||||
| Prepayments and accrued income | 5,449 | 16,262 | |||||
| ═══════ | ═══════ | ||||||
| 10. | CREDITORS | 2021 | 2020 | ||||
| Amounts falling due within one year | £ | £ | |||||
| Other creditors | 2,108 | 2,076 | |||||
| Accruals and deferred income | 1,000 | 950 | |||||
| ─────── | ─────── | ||||||
| 3,108 | 3,026 | ||||||
| ═══════ | ═══════ | ||||||
| 11. | RESERVES | ||||||
| 2021 | 2020 | ||||||
| £ | £ | ||||||
| At 1 April 2020 | 65,276 | 69,043 | |||||
| Surplus/(Deficit) for the financial year | 1,129 | (3,767) | |||||
| ─────── | ─────── | ||||||
| At 31 March 2021 | 66,405 | 65,276 | |||||
| ═══════ | ═══════ | ||||||
| 12. | FUNDS | ||||||
| 12.1 | RECONCILIATION OF MOVEMENT | IN FUNDS | Unrestricted | Restricted | Total | ||
| Funds | Funds | Funds | |||||
| £ | £ | £ | |||||
| At 1 April 2019 | 18,198 | 50,845 | 69,043 | ||||
| Movement during the financial year | (2,676) | (1,091) | (3,767) | ||||
| ─────── | ─────── | ─────── | |||||
| At 31 March 2020 | 15,522 | 49,754 | 65,276 | ||||
| Movement during the financial year | (11,163) | 12,292 | 1,129 | ||||
| ─────── | ─────── | ─────── | |||||
| At 31 March 2021 | 4,359 | 62,046 | 66,405 | ||||
| ═══════ | ═══════ | ═══════ | |||||
| 12.2 | ANALYSIS OF MOVEMENTS ON FUNDS | ||||||
| Balance | **Income ** | Expenditure | Transfers | Balance | |||
| 1 | April | between | 31 March | ||||
| 2020 | funds | 2021 | |||||
| £ | £ | £ | £ | £ | |||
| Restricted funds | |||||||
| Restricted | 49,754 | 155,960 | 143,668 | - | 62,046 | ||
| Unrestricted funds | |||||||
| Unrestricted General | 15,522 | 5,050 | 16,213 | - | 4,359 | ||
| ─────── | ─────── | ─────── | ─────── | ─────── | |||
| Total funds | 65,276 | 161,010 | 159,881 | - | 66,405 | ||
| ═══════ | ═══════ | ═══════ | ═══════ | ═══════ |
12
continued
St Marys Youth Centre NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2021
12.3 ANALYSIS OF NET ASSETS BY FUND
| ANALYSIS OF NET ASSETS BY FUND | |||
|---|---|---|---|
| Current | Current | Total | |
| assets | liabilities | ||
| £ | £ | £ | |
| Restricted trust funds | 73,107 | (67,082) | 6,025 |
| ─────── | ─────── | ─────── | |
| Unrestricted general funds | 75,738 | (15,358) | 60,380 |
| ─────── | ─────── | ─────── | |
| 148,845 | (82,440) | 66,405 | |
| ═══════ | ═══════ | ═══════ |
13. POST-BALANCE SHEET EVENTS
There have been no significant events affecting the Charity since the financial year-end.
13
ST MARYS YOUTH CENTRE
SUPPLEMENTARY INFORMATION
RELATING TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2021
14
St Marys Youth Centre SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS
Operating Statement for the financial year ended 31 March 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Income | ||
| Education Authority | 126,617 | 110,458 |
| PBNI | 2,880 | 2,400 |
| TBUC | 12,195 | 20,491 |
| Youth Work Alliance | 100 | 3,783 |
| Children In Need | 8,819 | 6,077 |
| Membership Subs | 258 | 5,181 |
| Coffee Bar | - | 5,438 |
| Trips & Exchange | - | 4,126 |
| User Groups | - | 4,085 |
| Misc. | 4,692 | 1,050 |
| EPB | - | 25,976 |
| Neighbourhood Renewal (DFC) | 5,449 | 7,472 |
| ─────── | ─────── | |
| 161,010 | 196,537 | |
| ─────── | ─────── | |
| Cost of generating funds | ||
| Opening stock | 150 | 1,504 |
| ─────── | ─────── | |
| 150 | 1,504 | |
| Closing stock | - | (150) |
| ─────── | ─────── | |
| 150 | 1,354 | |
| ─────── | ─────── | |
| Gross surplus | 160,860 | 195,183 |
| ─────── | ─────── | |
| Expenses | ||
| Wages and salaries | 44,300 | 44,344 |
| TBUC | 10,335 | 22,011 |
| Coffee Bar | - | 4,580 |
| Children In Need | 3,180 | 6,100 |
| PBNI | 1,866 | 1,760 |
| EA | 5,428 | - |
| Wages | 62,296 | 53,324 |
| Rates | 152 | 148 |
| Trips / Residentials | - | 2,226 |
| Insurance | 3,584 | 2,616 |
| Website | - | 209 |
| Light and heat | 9,868 | 7,289 |
| Repairs and maintenance | 3,762 | 4,086 |
| Transport | - | 3,022 |
| Printing, postage and stationery | 1,127 | 756 |
| Neighbourhood Renewal (DFC) | 4,970 | 8,145 |
| Telephone / Internet | 1,304 | 3,837 |
| Youth Intervention | - | 3,506 |
| Minibus expenses | 1,180 | 2,202 |
| Petty cash expenses | - | 463 |
| EPB | - | 20,970 |
| Equipment | 2,500 | 1,689 |
| Accountancy | 50 | 2,090 |
| Bank charges | 437 | 355 |
| Grounds Maintenance | - | 450 |
| General expenses | 3,175 | 2,772 |
| Subscriptions | 217 | - |
| ─────── | ─────── | |
| 159,731 | 198,950 | |
| ─────── | ─────── | |
| Net surplus/(deficit) | 1,129 | (3,767) |
| ═══════ | ═══════ |
The supplementary information does not form part of the financial statements
15