LAN MOR SURESTART FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 ( A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL) COMPANY REGISTRATION NUMBER N1045311 CHARITY REGISTRATION NUMBER NIC 105001. ADIANROB 1911212024 COMPANIES HOUSE
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O'HARA SHEARER CHARTERED ACCOUNTANTS AND STATUTORY AUDITORS 547 FALLS ROAD DEI LfiAST BTII 9AB
CLAN MOR SURESTART FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 CONTENTS Page Balance sheet Notes to the financial statements
CLAN MOR SURESTART BALA]YCE SHEET AS AT 31ST RCH 2024 2024 2023 FIXED ASSETS Tangible assets 831 1,050 CURRENT ASSETS Debtors and prepayments C&sh at bank Cash in hand 1,013 75,9S9 1,239 74,709 149 76,097 76,972 Creditor"; amountg falling duc ii'ithin onc ycsr (4,J45) (4,344) NET CURRENT ASSETSI(LIABILITIES) 72.627 71,753 TOTAL ASSETS LESS CURRENT ASSETS/( LIABILITIES ) 73,458 72,803 Creditors: amounts falling due after more than one year (168) (387) NET ASSETSIILIABILITIES) 73,290 72,416 FUNDS: ENDOWNMENT FUNDS UNRESTRICTED INCOME FUNDS 53,986 53,112 RESTRICTED INCOME FUNDS 19,304 19,304 73,290 72,416 The directors of the company have elected not to include a copy of tlie profit and loss account within the financial Statements. These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject lo the small companies, regime. The financial statements were approved by the board of directors and authorised for issue on 4th October 2024 and are signed on its behalf by: DANNY POWER DIRECTOR ELIZABETH MCSHANE DIRECTOR DATE 4th October 2024 COMPANY REGISTRATION NUMBER Nl 045311 Page 2
CLAN MOR SURESTART NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 STATEMENT OF ACCOUNTINC POLICIES Aecounting Convention and Basis of Accounting The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard which applies in the UK and Republic of Ireland (FRS 102) (effective l January 2015) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Going Concern At the time of approving the financial statements, the trustees, have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees, continue to adopt the going concern basis of accounting in preparing the financial statements. IDcome Recognition Incomc is recognised when the Charity has entitlement to the funds, any performanc¢ conditions attached to the item(s) of income have been me¢ it is probable that the income will be received and the amount can be measured reliably. Interest Receivable Interest on funds held is included when receivable and the amount can be measured reliably; this is nonnally upon notification of the interest paid or payable by the Bank. Resources Expended All e,xpenditure is accounted for on an accruals basis and is classified under headings that aggregate all Costs related to the category. Fundraising costs include the costs of advertising, producing publications, printing and mailing fundraising material, and staff costs in these areas. Costs of charitable activities include direct expenditure incurred through operational activities. Governance costs represent the costs associated with the governance arrangements of the charity which relat¢ to the general running of the charity as opposed to those costs associated with fundraising or charitable activity. Fixed Assets All tangible fixed assets are recorded at cost. Page 3
CLAN MOR SURESTART NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 STATEMENT OF ACCOUNTING POLICIES Depreciation Depreciation is calculated to write off the cost of fixed assets over their estimated useful lives at the following rates: Premises adaptations Office equipment Computer equipment 5 % residual value 20 % residual value 250/0 residual value Repalrs and Renewals All repairs and renewals are written off as incurred Pension Costs The charity does currently operate a defined conribution pension scheme. This is operated via the UK Government NEST Pension Scheme. Debtors and Prepayments Trade debtors and other 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. 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 the 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. Financial Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recogni5ed at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Foreign Currencies Monetary assets and liabilities in foreign CuenCieS are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign Cuen¢1es are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net rnovement in funds. Page 4
CLAN MOR SURESTART NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 STATEIVIENT OF ACCOUNTING POLICIES Fund Accouoting Unrestricted funds are general funds that are available for use at the Trustees, discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside by the trustees out of unrestricted funds for specifi future purposes. Restricted funds are those given for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Reserves Policy Unrestricted funds are needed to provide funds which can be applied to specific projects to enable these projects to be undertaken at short notice and to cover the running costs of the Charity for a limited period. should there be a significant shortfall in projected income. Restricted funds must be be utilised in compliance with funder criteria. Specifically, Department of Education Governance and Accountability guidanee also provides details of a new reserves policy. Sure Start Projects are pennitted to hold a maximum of two weeks equivalent of their annual budget allocation as reserves, if required, for working capital requirements at the financial year end. In line with the requirement from our key funder, the organisation is unable to allocate any unused funding to reserves . All unspent monies must be returned to the funder. PAge 5
CLAN MOR SURESTART NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31ST MARCH 2024 19. UNRESTRJCTED INCOME FUNDS 2024 2023 Balance at 1st April 2023 53,112 53,112 Incoming resource5 for the year Resources expended for the year Transfer between funds 6,212 (5,338) Balance at 3 1st March 2024 53,986 53,112 20. RESTRICTED INCOME FUNDS 2024 2023 Balance at I st April 2023 19,304 19,627 Reallocation of brought forward funds to current year Incoming resources for the year Resources expended for the year Transfer between funds 612,456 619.279 (612,456) (619,602) Balance at 31 st March 2024 19,304 19,304 J. LEGAL STATUS Clan Mor Sureslart is a Company Limited by Guarante¢. Each member has agreed to contribute £1 in the event of a compulsory winding up. Clan Mor Surestart is registered with The Charity Commission for Northern Ireland, Charity Number 105001. Date of registration 5th April 2016. Clan Mor Surestart is a recognised Charity Within the definition of Section 360(3) Income and Corporation Taxes Act 1970 by the Commissioners of the Inland Revenue. 4. AUDIT REPORT INFORMATION As the income statement has been omitted from the filing copy of the financial statements the following infonnation in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006: The auditorfs report was unqualified. The senior statutory auditor was Lawrence Shearer FCA. The auditor was O'Hara Shearer Chartered Accountsnts & Statulory Auditors. 5. APPROVAL OF ACCOUNTS The flnancial statements were approved by the directors, on 4th October 2024. Page 6