HMRC Chartty number: NIC104876 Company number: N1611652 SALT FACTORY SPORTS SALT FAcfoRY SPORTS IA company Ilmlted by guarantee) Unaudited Trustees, Report and Financial Statements for the year ended 31 Au8USt 2023
SALT FACTORY SPORTS (A company limited by guarantee) Contents Page Legal and Administrative Information Chairman's Review Trustees, Report Independent Accountanys Report io Statement of Financial Activlties li Statement of Financial Position 12 Notes to the Financlal Statements 13-18
SALT FACTORY SPORTS (A company limited by guarantee) Legal and administrative inforniation HMRC Charity Number NIC104876 Company Reglstration Number N1611652 Business Address CIO Trinity Methodist Church Ballymacoss Avenue Lisbum Co Antrim BT28 2GU Registered Offlce CIO Trinity Methodist Church Ballymacoss Avenue Llsburn Co Antrim BT28 2GU Trustee5 Mr Christopher Mcvlttle {Chairman) Mr Martin Pitt {Trea5urerl Mr Glenn Emerson Mr Mervyn J Shannon Mr Thomas Greenaway Secretary Mr Christopher Grant Bankers Danske Bank 62-66 Bow Street Lisburn BT28 IYS Independent Financial Examiner Mr Jonathan Bethel, FCA Page I
SALT FACTORY SPORTS (A company limited by guarantee) Report of the Trustees (incorporating the Directors, Report) for the year ended 31 August 2023 Chairman's Review We are very thankful for another year during which our staff have been busy leading 3 wide range ofsports and outreach activities across many locations and countries. They have en8aged with people of all ages, abilities and backgrounds and we have seen our work expand and multiply. our staffing levels increase and new partners come on board. The benefits of our work. including an increasin8 number of people leading a more active lifestyle. Churches bein8 better connected to their local communities. coaches being better equipped to coach, and a wide range of people developing in their physical. mental. emotional and spiritual health, are being felt across a wide area and are improving the quality of life for many. It seems to have been a year of increase, perhaps more noticeable than usual coming on the back of a few years of restrictions. and we are excited for the years ahead and developing some of the key relationships and opportunities God has opened up for us. Making the deliberate decision to reduce the geo8raphical area we concentrated our local work on ha5 allowed new programmes to be8in and develop with existing partners. As such. we have seen a real deepenin8 of relationships with people we engage with multiple times throughout the week. an increasin8 willingne55 to participate in our activities, and an openness to honest conversations and decisions around the Gospel message. We've also formed new partnerships with local Schools. other Christian sports ministries, Christian Schools. Universitie5 and Colleges in the USA and funders which have helped to 8row our artivities and impact. Our dedicated and enthusiastic staff have developed and led the work excellently and are conscientlous in developing their skills and abilities to keep the work of SFS as effective as possible. Thanks to generous financial gifts from several Trusts we have been able to increase our staffing levels thi5 year. We employed a Church and Community Worker in Mayand a Church and Communitycoordinatorin Au8USt. Theworkerwill, in part, inltlate and develop our work in communities we have little impact on- the homeless, cross-community, refugee5 and asylum Seekers for example, and the Coordinator will take responsibility for leading and developin8 all of our Church and Community work. Theskills, creativity. experiences and connections they brin8 are openin8 up new posslbllltles and opportunities, many of which we are prayerfully exploring. Wlth re8ular meetin8s of the Board throughout the year we have kept abreast of key issues and used a wide ran8e of members, expertise to guide and support SFS. The Board is content with the fi8ures reported for this financial year. reporting a total income of £282,126 and a total operating cost of £234,934. We have maintained a positive cash position throu8hout the year. Some of this profit wlll be used to reinvest in new staff and activities in the next finanaal year. We are so 8rateful for the many individuals, Churches, or8anisations and Trusts who have supported our work financially this year. We are also very thankful for the prayer supporters who keep us lifted up to God each day and the encouragers who support our staff and volunteers $0 well. Christop Chairman Mcvlttle 14 March 2024 Page 2
SALT FACTORY SPORTS (A company limited by guarantee) Report of the Trustees (ineorporatillg the Directors, Report) for the year ended 31 August 2023 The Trustees present their report and the unaudited financial statements for the period ended 31 August 2023. The trustees. who are also Directors ofSALT FACTORYSPORTS for the purposes ofcompany law and who served during the period and up to the date of thi5 report are set out on page l. As a charity. the Board is committed to proper governance and probity in all of its activities. Strurture, Governance and Management The or8anisation is a charitable company limited by guarantee, incorporated with Companies House on 9 March 2012 (N1611652) and registered as a charity with the Charity Commission for Northern Ireland on 9 June 2016 INIC104876). The company was established ur)der a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The Directors of the company are also charlty trustees for the purpose of charity law. All give their time voluntarily and receive no benefits from the charity. The trustees who served durlng the year and up to the date of signature of the financial statements were: Mr C M¢Vittie, Mr M Pitt, Mr G Emerson and Mr T Greenaway. Mlsslon Statement Usin8 Sport to brin8 people together, build relationships and see people of all ages become enthusiastic followers of Chrlst who are living conta8ious Christian lives. Purposes, Aims and ObJectlves/publlc Benefit SALT FACTORY SPORTS is a Northern Ireland based Charity which has Christian evangelism and discipleshlp at the core of all its activlties. It engages with individuals, communities, Churches, Sports Clubs and other or8anisations through a varied pro8ramme of sportin8 activities and events. It provides opportunities for individuals and groups of all ages, abllity, ethnlcity and backgrounds to come tO8ether in order to aid the development of thelr physlcal fltness, selfsteem and decision makin8 abilities but also to ralse thelr awareness of God's love and Salvation. SALT FACTOR Y SPORTS also hosts short term sporting mission teams. lead their own short term mission teams abroad and facilitates leadership development programmes for Church leaders and sports coaches. They a150 undertake assemblles, after-school clubs and holiday clubs in local schools. run coaching and activity sessions In GB and B8 companies and youth organisations. and run coachin8 clinics and workshops for amateur clubs. SALT FACTORYSPORTS has partners in numerous countries across the world, including Ireland. England. Bulgarla, Germany, Poland, Kenya, India and USA. They also have strong relationships wlth several other Christian organisations such as News Release Basketball, Josiah Venture, Athletic International Missions, RIOT, CIY, Summer Madness and Good News Ministries, and wtth Christian Universities and Colleges across North Amerlca. A5 set out In the compans articles of association the Trust Is established for charitable purposes only. specifically to advance the Christian religion usin8 amateur sport as an effective means of bringing people together, buildin8 relationships and creatin8 Opportunities for evangelism and discipleship, both in Northern Ireland and overseas. The key charitable objectives of our charity are. The establishment and development of Church based sports ministry training pro8rammes; The provision of sports activities, games, events and competitions in Churches, schoo15, Sports clubs and youth organisations; Page 3
SALT FACTORY SPORTS (A company limited by guarantee) Report of the Trnstees (ineorporating the Directors, Report) for the year ended 31 August 2023 Preparation and training of people serving in local and overseas missions; The provision of coach education services. The promotion of Christian values; and The promotion of healthy living. Public benefit is a le8al requirement of every organization established with charitable objectives and the Trustee5 confirm that they have had due regard to the Charity Commission for Northern Ireland's guidance on public benefit reporting in presentin8 the charl$ benefits and achievements. The Trustees are confident that any private benefit received form our activities is purely inadental to the purposes of our work. Flnanclal review The financial statements are Shown on pages 11 and 12, and should be read in conjunction with the notes on pa8es 13 to 18. The directors are content with the financial results for the year in reporting a surplus of £47,192 12022'.deficit £{7,3181 and it continues to maintain a positive cash position. The company bein8 a charity recognlzed by HM Revenue and Customs has no liability to corporation tax on its charitable activities. The year to 31 August 20023 reflected the investment in new staff and activities in the post pandernic period including the return of Mission teams and it is anticipated that the charity will breakeven in 2024 as a result of thi5 additional activity and Staff. Golng Concern Wlth a marked increase throughout the year In activities and pro8rammes, in staff and volunteers and the number of partnerslhosts. the Trustees are confident that the charity can continue as a going concern. Artlvltles undertaken to achleve our objectlves The year to 31 Au8USt 2023 has been an excitin8 time for us with new staff appointed, new activities begun, new partnerships formed, and an expanded range of summer clubs, camps, and mlssions. There seemed to be a renewed enthuslasm forour pro8rammes. particularly in schools and Churches as we came out ofthe pandemic, and throughout the year we were kept busy leading a wide ran8e of activities with children, youth, and young adults. Our summer clubs and missions were also well attended as we partnered with Churches and schools to run Play Believe Live clubs and worked alongside other Christian organisations, such as Summer Madness and New Horizon to lead a wide range of sports, 8ames, and activities. The year started with a flourish of activity as we began leading PE lessons and after-school sports in local Primary and Secondary schools, including coachin8 hockey, basketball, handball. volleyball. and football, and leadin8 our Play Believe Live and SuperHeroe5 club5. C105e to 400 pupils were involved in these weekly artivities and it was great seein8 them participate eagerly and continue to develop physically, emotionally, and spiritually. Several voung pupils asked good questions about God durin8 a SuperHeroes session on self-esteem and declared, without any promptin& that following and loving God was the best way to be a superherol Three teenagers who gave their lives to Christ during a summer camp were eager to spend time with our staff at lunchtime hangout5 learning more about living as a Christian. As schools began to run larger events again, we were invited to lead a bi8 fun induction day for all Year 8 and Year 10 pupils in a large school in Dungannon. It was great seeing the pupils have fun, interact, and problem-solve with each other, learn new skills, and begin to feel more comfortable with new classmates and teacher5. We continued developing good relationships with both pupils and teachers as we worked with local Churches to deliver Youth Alpha sessions, led SU sessions and RE classes in five local secondary schools, and led assemblies in numerous Primary schools where over 8CQ children heard a sports analogy and Bible story. Some of our staff were also involved in l-on-l mentoring with pupils who needed additional support in coping with all that life was throwing at them. The children and youth talked openly as they played small table games with our staff Page 4
SALT FACTORY SPORTS (A company limited by guarantee) Report of the Trustees (incorporating the Directors, Report) for the year ended 31 August 2023 and then completed activity sheets on 3 range of mental and emotional health topics. We saw an increase in the mental, emotional. and social well-being of these pupils across the year, with one particular pupil saying she had been helped so much by now being able to deal with her anxiety attacks. In the longer term, we hope to see these young people living healthier lives and bein8 attively engaged in their local communities. In March we had a group visit us from SCORE International. one of our partners in the USA. and they got to see our work in multiple primary and secondary schools. Their visit prompted a good debate in the staffroom of a local primary school which 8reatly encouraged the Christian teachers. We led a girls, retreat for secondary-aged pupils over Easter and the feedback from this was very posltive. Some really deep conversations around faith, Jesus. and the Bible were had, alongside a fun programme of activities including paddleboardin& hill walkin& and beach sports. We also ran sports sessions and Team fimes (Bibletalks) with numerous GBand B8companies and Church youth 8roups across Northern Ireland In places such as Belfast, Ban8or, Comber, Warringstown, Randalstown. Portadown. and Banbridge. These sessions helped participants develop a love of sport, live a more active lifestyle, and increase their spiritual well-being. Some of our staff also engaged with the Lisburn Youth Workers group where we supported Churches to be more involved in their local communities, and the inter-church youth events where we led games for hundred5 of young people from different churches across the greater Lisburn area. We also led mission services in several Churches including in Glenarm, Belfast, and Lisburn, and partnered with the Church of Ireland and the Presbyterian Youth Departments by leadin8 a wide range of sports, games, and competitions during their youth weekends. Our Play Believe Club resumed each Thursday evening in partnership with a local Church. We were exclted to see the number of participants 8rowin8 each week, the result of 8ood connections and relationships with the local community, developed through a fun club we ran durin8 the summer. The 25+ children attending weekly had great fun playing different sports. games. and activities each week before hearing a Bible story and completing an activity sheet. It was clear to see the children developin8 well both physically and spiritually. Our staff team rnet each week to worship, pray. and study the Bible and it served as a good time to remember why we do what we do and to celebrate the One who has provided so much and opened so many doors for us. Alon8 wlth praying for our partnerslhosts, participants and volunteers, it was great being able to pray for each other personally too. and to support the many things going on in each of our own lives. It was wonderful to welcome two new staff to our team, a Church and Community Worker in May and a Church and Community Coordinator in August. They quickly fitted into our team and have been busy developing new sports outreach activities in communities we had little connection with. such as the homeless. cross-community, refu8ees and asylum seekers. Our Head of Performancesport had a busyyear engagingwith, trainin& evangelising and disciplin8coaches both In N.1. and around the world. He traveled to Moldova, Estonia Ix 31, Poland {x 3). Belgium, Kenya and Zarnbia to partner with clubs, sports universities, Federations, Academies, and other Christian sports ministries to educate coaches and help connect sports ministries with their local sporting communities. His work developing coaches helped to grow their knowledge and skills and the time spent building relationships with and sharing the Good News with the coache5 really helped their spiritual well-being. Coaches interested in learning more about faith, or who were new Christians, were linked with local sports ministries andlor local missionaries who were able to take on longer-term discipleship. Throughout the year several coaches in Zambia, Kenya, and Poland dedicated their lives to Christ. In Northern Ireland. he met with local coaches each week and supported their development as coaches but also mentally/emotionally, and spiritually. It was exciting to hear of several who gave their lives to Christ and were connected with local Churches. In partnership with Sports Chaplaincy. we supported the first Alpha for Sportspeople hosted in Northern Ireland and helped several participants discover faith for the first time or reconnert with God after some time away. Page S
SALT FACTORY SPORTS (A company limited by guarantee) Report of the Trustees (incorporating the Directors, Report) for the year ended 31 August 2023 We also made good use of online technolo8V to train and disciple coaches and coach educators in Romania, Poland, Belgium, Albania, Pakistan. Tanzania, Zambia. Malawi. and Zimbabwe. all of whom became better coaches and better equipped to share the Gospel with their players and fellow Coaches. The ELEVATE Programme. our year-long online coach education and leadership classes, continued with a large group of Kenyan coaches, supported by staff and volunteers at SFS Kenya. This helped them become better coaches, better leaders, and healthier spiritually and emotionally. We began our Multipliers Programme with a select few coaches who had already been through ELEVATE and were trained to deliver it themselves in their local communities. It was great seein8 new knowledge and skills, a love of sport, and a desire to improve people's splritual health being passed on by people we had trained. A5 a result of all of our work in Africa, we began an African Ministries Collective where we gathered all our African ministry partners online once a month and prayed and learned from each other. We also helped enthuse them fortheir work and helped them look into beginnin8 partnerships both with us and with each other. Our programme wlth the Estonian FA and their Academy Directors began in January 2023 and as a result, over 350 coaches were better equipped to coach well, developed their love of sport. and many heard the Gospel messa8e. Our partnering with a local sports university in Poland to train the next generation of coaches went very well and 60 coaches in Warsaw took New Testaments and were very interested in learning more about spiritual well-being and growth. We connected them with a local sports ministry to aid in their longer-term spiritual development. In February we hosted a group of coaches from across Eastern Europe, EDGE Sports, a partner of ours, in Dublin for 3 week to ald in their development as coaches, share the Gospel with them. and ensure they were enthused and equipped for helping others lead a healthier lifestyle. In July we led coach education in Belgium and partnered with a top-tier club to explore the possibility of takin8 our best Kenya coaches there short-term to further aid their development. In June. on completion of the ELEVATE Programme in Zambia, we began the first Multipliers course with specially selected coaches in partnership with Athletes in Action. While our Head of Performance Sport was in Zambia. five elite-level coaches gave their lives to Christ, and our work was highlighted on National rv. As spring and summer approached, our schools, work came to an end and we focused on preparing for a full summer of clubs. ¢amps, and missions. Between May and Au8USt, we led outreach activities with visitin8 basketball. volleyball, and golf teams, playing matches against local teams. leading coaching sessions and sharing Team Tlmes {Bible stories) In schools. Around 100 children who had never experienced any of these sports before were excited to learn new skills and compete in new sports. It was evident to see their growing love of a healthier lifestyle and a love of a wider range of sports. We were key partner5 in two large summer camps- Summer Madne55 and New Horizon, where we led a wide range of sports activities. games and competitions for children and young people. We also partnered with numerous Churches includin8 Bethlehem Baptist, Forest Park. Lagan Valley Vineyard. CrossRoads Church, First M055 Bluff Church, Portglenone Parish. St Matthias, Lot Church. A Simple Faith Church. and St. Columba's Church, to lead sports clubs and Holiday Bible Clubs and partnered on mission teams with other Christian organisations such as Servant Life, International Sports Federation, and TEAM. In all of our summer activities, the participants developed a growing love of sport. were very actpie each day, and were mentally, emotionallv, and spiritually encouraged and improved. God did some powerful things over the summer and it was great seeing several children and young people dedicate their lives to God during our clubs. Page 6
SALT FACTORY SPORTS (A company limited by guarantee) Report of the Trustees (incoryorating the Directors, Report) for the year ended 31 August 2023 Highllghts and Achievements During the year our highlights include- employing a Church and Community Worker to support our current work and to develop partnerships and attivitie5 in currently under4erved communities such as with refugees and in cross-community areas", employing a Church and Community Coordinator to lead and develop our work in these areas; partnerin8 Wlth numerous Churches. schools, other Christian ministries. sports clubs, universities, and national sport5 federations to lead a wide range of sports activities, spiritual development, and coach education programmes; leadin8 {online} coach education and disclpleship dasses at least once a week in over 11 different countries- seein8 children, youth and adults 8ive their lives to Jesus both in N.1. and across the world; developin8 relationships and working with new sports ministry partners. growin8 our Elevate Coach Education course in Kenya and across East Africa; initiating our Multipliers programme in Kenya and Zambia- beginning our Academy Directors course with the Estonian FA; leading many summer clubs and missions.. and continuin8 to plan for the openin8 of a Sports Ministry Trainin8 College Having reviewed these main achievements. it Is clear to see how they positively impacted and were very beneficial to those involved. We supported Churches in getting more involved in their local communitles, many children, young people and adults led more active lifestyles and began developing a love of sport, coaches were educated and better prepared to safely and effectively lead their coachin8 sessions and the spiritual well-bein8 of all involved improved as they begin to reallse both who God is, and who they are in Him. Rlsk Management The Trustees have conducted a review of major risks to which the charity is exposed. Where appropriate. systems or procedures have been established to mitigate the risks the charity faces. Risks to external fundin8 have led to the development of a str3te8ic plan which will allow for the diversification of fundin8 and actlvltles. Internal control risk5 ale minimised by the implementation of procedures for authorlsation of all transactions and projects. Procedures and policies are in place to ensure the health and safety of all staff, volunteers, coaches and people involved in our artivities. These procedures and policie5 are periodicallv reviewed to ensure that they continue to meet the needs of the tharity. Funds Held as Custodlan No funds are held as custodlan on behalf of others. Reserves Policy Considering the variable and fixed commitments. the Trustees have established a reserves policy to allow the charity to be managed effettively and to ensure uninterrupted delivery of the charity's activities. A 8eneral reserve equating to six months of operational costs should be maintained. The Board based projections for the appropriate amount of reserves on the basis that the reserves in our target range would provide short- term relief until long-term solutions can be established. At 31 August 2023. the Unrestricted Reserves were £144.083 which represents 6.5 months of operational costs. Some of this reserve will likely be used to finance an increase in staff in the forthcomin8 year. Page 7
SALT FACTORY SPORTS (A company limited by guarantee) Report of the Trustees (ineorporating the Directors, Report) for the year ended 31 August 2023 Plans for Future Years We plan to continue to increase the number and geographic range of schools, Churches. and sports clubs we work with across Northern Ireland. as well as the number of holiday clubs and camps we lead. As our first Easter residential went so well, we plan to continue thi5 and plan for a larger summer residential camp in 202S. Our new Church and Community worker plans to expand the number of sports activities he has already begun with refugees and asylum seekers in partnership with local Churches in Belfast and Antrim. He will also explore opportunities we have to work in cross-community space5 and with the homeless. We would loveto 8et people In these demographics more active, support them in living a healthier lifestyle. help them be better connected to their local communities, and to become more aware of and develop their mental, emotional and spiritual well-being. The number of online coach education classe5 we lead continues to increase both in number and geographic location and we antlcipate this will grow further in the coming year. We plan to lead classes in new 2 sports - volleyball and basketball, which will increase the number of coaches we come into contact with. Wlth such a large number of coaches now having been through the Elevate programme, we will put more of an emphasis on our Multipliers pro8ramme where we will support local Coaches to run short coach education classes across their country. This will undoubtedly improve the standard of coaching and improve the spiritual well-being of the coaches. We will continue to plan for the opening of a Sports Ministry Training College (aiming for June 20251 and will partner with local Churches, Universities, and other sports ministries to continue to move this forward. ststement of Trustees, Responslbllltles The trustees (who are also dirertors of SALT FACTORY SPORTS for the purpose of company lawl are responslble for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunlted Kingdom Generally Accepted Accountin8 Prattlce). Company law requires the trustees to prepare financlal statements for each financial year whlch glve a true and fair view of the state of affairs of the charitable company and of the incomin8 resources and application of resources, includlng the income and expendlture, of the charitable company for that period. In preparing these financial statements, the trustees are required to: select suitable accountin8 policies and then apply them consistently; observe the methods and principles in the Charities SORP: make judgernents and estimates that are reasonable and prudent: state whether applicable UK Accountin8 Standards have been followed, subject to any materlal departures disclosed and explained in the financial statements- and prepare the financlal statements on the 80in8 concern basis unlw it is inappropriate to presume that the charitable company will contlnue In business. The trustees are responsible for keeping proper accounting records that disclose wlth reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Att 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 8
SALT FACTORY SPORTS (A company limited by guarantee) Report of the Trustees (incorporating the Directors, Report) for the year ended 31 August 2023 Small Company Provisions This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. On behalf of the board on 14 March 2024. Chrlstopher Grant Secretary Page 9
SALT FACTORY SPORTS (A company limited by guarantee) Independent Examiners Report To the Trustees for SALT FACTORY SPORTS I report to the trustees on my examination of the financial statements of Salt Factory Sports (the trust) for the year ended 31 August 2023. Responsibilities and basis of report As the trustees of the trust land a150 Its dirertors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 Ithe 2006 Act). Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respert of my examination of the trust's financial statements arried out under section 145 of the Charities Act 2011 (the 201 l Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(51{b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confim that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the trust as required by section 386 of the 2006 Act,. or the financial statements do not accord with those records,- or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair wew which is not a matter considered as part of an independent examination- or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Mr Jonathan R Bethel FCA Miscampbell & Co. 14 March 2024 The notes on pages 13 to 18 forni an Inteal part of these fmancial staternents Page 10
SALT FACTORY SPORTS (A company limited by guarantee) Statement of Financial Artivities For the year ended 31 August 2023 Unrestricted funds Restricted funds 2023 2022 Total Total Notes Incomln8 resources Incoming resource5 from generated funds- Investment income 316 316 Voluntary income Incomin8 resources from charitable Activities 100,160 179,410 100,160 181.650 74.165 103,167 2,240 279,886 2,240 282.126 177,337 Resources expended Charitable activities Cost of generating funds Totsl resources expended 232.814 2,120 234.934 184,6SS 232.814 2,120 234.934 184,655 Net movement In funds 47,072 97,011 120 47,192 99,118 17,3181 106,436 Openlng Balance at I September Transfer 2,107 Closing Balance at 31 August 144.083 2,227 146,310 99,118 The statement of financial activities includes all 8ains and losses In the year and therefore a separate statement of total recognised gains and losses has not been prepared. There is no difference between the net movement in funds for the yearstated above and its historical cost equlvalent. All of the above amounts relate to continuing activlties The notes on pages 13 to 18 forn) an Éntegral part of these flllancial statements Page 11
SALT FACTORY SPORTS (A company limlted by guarantee) Company Number: N1611652 Statement of Financial Position a5 at 31 August 2023 Notes 2023 2022 Current assets Debtors 3.657 2,094 97.024 Cash at bank and in hand 146,762 150,419 (4.109) 99.118 Credltors: amounts fallln8 due wlthln one year Net current assets 146,310 99,118 Net assets 146,310 99,118 Funds io Restrirted Income funds 2,227 144,083 2,107 97,011 Unrestricted income funds Total funds 146,310 99,118 For the financial year ending 31 August 2023 the company was entltled to exemption under section 477 of the Companies Act 2006 relatin8 to small companles. No members have requlred the company to obtain an audit of its accounts for the year ended 31 Au8USt 2023 In accordance wlth sertlon 476 of the Companies Art 2006. The directors acknowled8e their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These account5 have been prepared In accordance with the provisions applicable to companies subject to the small companies, regime. The financial statements on pages 8 to 14 were approved by the trustees on 14 March 2024 and signed on their behalf by.. Chrlstopher Mcvlttle Chairman Page 12
SALT FACTORY SPORTS (A company limited by guarantee) General information Salt Factory Sports is a charitable company limited by guarantee. The company is incorporated in Northern Ireland and has the company number N1611652. The company is registered with Charity Commission Nl and has the charity number NIC104876. The registered office address is Ballymacoss Avenue, Lisburn, BT28 2GU. The principal activity of the company continued to be promoting the Christian religion using amateur sport as an effective means of bringin8 people together, building relationships and creating opportunities for evangelism and discipleship, both in Northern Ireland and overseas. Accountlng pollcles The principal accounting policies are summarised below. The accounting policies have been applied consistentlv throughout the year and in the preceding year. The company is a goin8 concern. The directors do not believe that there are any factors or material uncertainties which would impact on their assessment of this. Basls of accountlng and Statement of Compliance The financial statements have been prepared in accordance with the trust's18overning documentl, the Companies Act 2006, FRS 102 "The Financial Reportin8 Standard applicable in the UK and Republic of Ireland" ("FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice appllcable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective l January 20191. The trust Is a Public Benefit Entity as defined by FRS 102. The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. Salt Factory Sports meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially re¢o8nised as historical or transaction values unless otherwlse stated in the relevant accounting policy. The flnancial statements are presented In Sterlln81£l. The level of roundln8 Is £1. 2.2. Cashflow The Charity has taken advantage of the exemption in FRS102 from the requirement to produ a cash flow statement because it is a small charity. Incomlng resources All incoming resources are included in the statement of finanthal activities when the charity is entitled to the income, when its receipt is virtually certain and the amount can be quantified with reasonable accuracy. The followin8 specific policies are applied to particular cate8ories of income.. Voluntary income is received by way of 8rants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a speciflc performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Gifts donated for resale are included as incoming resour within activities for generating funds when they are sold. 2.4. Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Costs of genef ating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. 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 Page 13
SALT FACTORY SPORTS (A company limited by guaranttt) those costs of an indirect nature necessary to support them. Support costs are those costs incurred direttly in support of expenditure on the objective5 of the charity and include project management. Debtors Oebtors are stated after all known bad debts have been written off and specific provision has been made against all debts considered doubtful of collection. 2.6. Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisltion or opening of the deposit or similar account. 2.7. Llabilities Liabilities are reco8nised when there Is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliablv. Liabilities are reco8nised at the amount that the company anticipates it will pay to settle the debt or the amount it has received an advanced payments for goods or services it must provide. 2.8. Financlal Instruments The cornpany only has financial assets and financial liabilities of a kind that qualify as basic flnancial instruments. Basic financial instruments are initlally recognised at tran53Ction value and subsequently measured at their settlement value with the exception if bank loans which are subsequently measured at amortized cost using the effective interest method. 2.9. Penslons The Company operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the charity to the fund in respect of the year. 2.10. Fund accountlng The charlty has various types of funds for which it is responsible and which requlre speclfic dlsclosure. A definition of the various types of funds is as follows: Unrestricted income funds are funds which are expendable at the discretion of the trustees in furtherance of the aims of the charity. Restricted income funds are amounts which are expendable only in accordance with the specified wishes of the donor. 2.11. Critical Accounting Estimates and Areas of Judgement Estimates and judgements are continually evaluated and are based on historical experlence and other factors, includin8 expectations of future events that are believed to be reasonable under the circumstances. Page 14
SALT FACTORY SPORTS (A company lin]ited by guarantee) Notes to financial statements for the year ended 31 August 2023 Voluntary Income Unrestrirted ftestrlrted funds Funds 2023 Total 2022 Total Donation5 CJRS Grant {Furlough) Trust Grants Miscellaneous 49.773 49,773 42,427 1,654 21,750 8,334 74,165 36,337 14,050 100.160 36.337 14,050 100,160 Incomlng resources from Charitable artivitles Unrestrlrted Restrlrted Funds Funds 2023 Total 2022 Total Community Sport Nl Community Sport World Performance Sport Nl Performance Sport World Salt Factory Sports Kenya 129.075 129,075 95,547 4,460 46.738 3,597 46,738 3,597 2,240 181.650 loo 3,060 103,167 2.240 2,240 179,410 Page 15
SALT FACTORY SPORTS (A company limited by guarantee) Notes to financial statements for tbe year ended 31 August 2023 Charltable actlvrties Unrestrirted Restrlrted Funds funds 2023 Total 2022 Total Salaries and Wa8es Community Sport World Community Sport Nl Rent and Office expenses Bank fees and Business support costs Promotion and advertising Miscellaneous expenses Performance Sport World Travel costs Staff Trainlng and Internships Training and sports equipment Performance Sport Nl Salt Factory Sports Kenya Donations to other Mission groups 122,049 122,049 110,551 3,965 44,690 4,447 7,365 742 2,142 956 4.644 622 656 125 3,548 202 184.655 54.755 5,2S8 9,180 992 3,302 178 9,658 3.523 6,060 17,859 54.755 5,258 9,180 992 3,302 178 9,658 3.523 6,060 17,859 2,120 2,120 232,814 2.120 234,934 Analysls of Restrlcted Funds Communlty Sport World SFS Kenya Total At I September 2022 Income Expenditure Transfer tollfroml unrestricted funds At 31 Au8U5t 2023 2,185 {781 2,240 (2,1201 2,107 2,240 {2,1201 2,185 42 2,227 Independent examinerfs remuneratlon 2023 Total 2022 Total Fees payable to the companvs independent examiner for the independent examination of the compan(s annual accounts 1,320 1,000 Page 16
SALT FACTORY SPORTS (A company limited by guarantee) Notes to financial statements for the year ended 31 August 2023 Taxatlon The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly. there is no taxation charge in these accounts. Employee information The average number of staff employed by the charity is 7 employees12022= 41. None of the Trustees received any remuneration or expenses from the charity durin8 the year in respect of their services to the charity. Staff Costs 2023 2022 Wages and Salaries Social Security costs Contribution to defined contribution pension schemes 116,385 4,685 979 122.049 106,747 2,844 960 110,551 No employee recelved a salary greater than £60,000. io. Flnanclal Instruments 2023 2022 Flnanclal Assets Financial assets measured at fair value through income and expenditure 146,762 97,024 Financial assets measured at fair value throu8h income and expenditure cornprise cash held at bank. ii. Debtors 2023 2022 Other debtors and prepayments 3.657 2,094 Page 17
SALT FACTORY SPORTS (A company limited by guarantee) Notes to fmancial statemeDts for the year ended 31 August 2023 12. Creditors: amounts falling due within one year 2023 2022 Other creditors 4,109 4,109 13. Analysis of net assets between funds Unrestrlrted Restrlrted funds funds Total funds Fund balance5 at 31 August 2023 are represented by.. Current assets Current liabilities 148.192 14,1091 144,083 2.227 150,419 14, 1091 2,227 146,310 14. Company Ilmlted by guarantee SALT FACTORY SPORTS Is a company limited by guarantee and accordingly does not have a share capital. Every memberof the company undertakes to contribute such amount as may be required to the assets of the charitable company in the event of its being wound up while he or she is a member. or within one year after he or she ceases to be a member. 15. Ultimate controlllng party There is no ultimate controlling party. Page 18