REGISTERED COMPANY NUMBER.. N1633783 INorthern Ireland) REGISTERED CHARITY NUMBER: 105041 ort of the Tru5tee5 and Unaudited Financial Statements lor the Year Ended 310ecember 2018 for nificado Foundation Aiken & Co LLP Chartered Acccsuntant5 Bullding 2 The Sidlngs Antrim Road Lisburn Co. Antrim BT28 3AJ
Si nificado Foundation Contents of the Financial Statements for the Year Ended 31 December 2018 Page Report of the Trustee5 Ito2 Statement of Financial Activitie5 Balance Sheet 4t05 Notes to the Financial Statement5 6tolO Deiailed Statement of Financial Activities li
Sl nlflcado Foundatbon Re ort of the Trustees for the Year Ended 31 December 2018 The trustees who are also dlfectors of the charity for the purposes of the Companles Act 2006, present their report with the financial statement5 of the charity for the year ended 31 December 2018. The trustees have adopted the provision5 of Accountlng and Repoiting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporling Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20151. OBJECTIVES AND ACTIVITIES The company 15 esiablished for the advancement of education, health. promotion and advantement of human rights, the relief of hardship and disadvantage, the advancement of commullity development, the advaneement of environmental improvement and the improvement of the holistic life of youth, the famlly unit and community wherever there can be a contributlon including developing nations. St fulfils these through developlne and delivering developmental job skills and entrepreneurial skills trainlng for youth to help them attain economic viabillty for the individual, Iheir family and their community. ACHIEVEMENT AND PERFORMANCE The company was inactive during the year ended 31 December 2018 due to project closure and the organlsatlon is currently reassessing partnerships and strategic direction. FINANCIAL REVIEW The Charity holds reseTve5 in the company's bank account to meet the on going requirements of the charity. Wè a@ree that the charity need to raise more funds. All the director5 feel that this coming year we need to l Apply for funding 2 Encourage more donors 3 Run fund raising events STRUCTURE, GOVERNANCE AND MANAGEMENT The liability of the member5 is Ilmited. Every mernber of the charity promises. il the Charity 15 dissolved while he or she is a member within twelve months after he or she cea5e5 to be a member, to contribute such sum Inot exceeding Ell as rnay be demanded by him or her towards the payment of the debts and liabilities of the Charity incurred before he or she ceases to be a rnember, and of the costs, charges and expenses of winding up, and the adjustment of the rights of the contributories among themselves. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number N1633783 INorthern Irelandl Re8lStered Charlty number 105041 Reglstered offl¢e building 2 The Sidings Antrim Road Lisburn Co. Antrim BT28 3 Page I
Si nificado Foundatlon Re ort ol the Trustees for the Year Ended 31 December 2018 REFERENCE AND ADMINISTRATIVE DETAILS Trustees Mr G Abraham Ms E E Wllson Directof None Appr ved by order of the bo rd of trustees on 19 September 2019 and signed on its behalf bv.. MrGA ham stee Page 2
nilicado Foyndation Statement of Financial Activities for the Year Ended 31 December 2018 2018 Unrestficled fund 2017 Total funds Notes INCOME AND ENDOWMENTS FROM EXPENDITURE ON Raising funds 12651 4.026 NET INCOMEIIEXPENDITUREI 265 14,0261 RECONCIUATION OF FUND5 Total funds brou8ht forward 355 4,381 TOTAL FUNDS CARRIED FORWARD 620 355 The notes form part of these financial statements Page 3
nificado Foundation Balance Sheet At 31 December 2018 2018 Unrestricted fund 2017 Total funds Notes FIXED ASSETS Tangible assets 282 564 CURRENT ASSETS Cash at bank 2,618 2,683 CREDITORS Amounts falling due wlthin one year 12.2801 12,8921 NET CURRENT ASSETS/ILIABILmESI 338 12091 TOTAL ASSETS LESS CURRENT LIABILITIES 620 355 NET ASSETS 620 355 FUND5 Unrestrlcted funds 620 355 TOTAL FUNDS 620 355 The notes form part of these financial statements Page 4 contlnued...
ificado Foundatlon Balance Sheet- continued At 31 December 2018 The Charitable company is entitled to exernptlon from audit under Settlon 477 of the Companies Act 2(X)6 for the year ended 31 December 2018. The members have not required the company to obtain an audit of Its financial %t3tement5 for the year ended 31 December 2018 in accordance with Section 476 of the Companles Act 21)06. The trustee5 acknowledge thelr responsibillties for ensuring that the charitable tompany keeps accounting records that comply with Sections 386 and 387 of the Companies Act 21X)6 and preparing flnancial statements which give a true and fair view of the State of affairs of the charitable company as at the end of each financial year and of its Surplus or defi¢lt for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 Telating to financial statements, so lar as applicable to the charitable company. These financial statements have been prepared in accordance with the spÈclal provisions of Part 15 of the Companles Act 2006 relating to charitable small companies. The financial stateme ts were approved by the Board of Trustees on 19 September 2019 and were signed on its behalf by.. Mr G Abraham Trustee The notes form part of these financial staternent5 P88e S
do Foundation Notes to the Financial Statement5 for the Year Ended 31 December 2018 ACCOUNTING POLICIES Ba51s of preparing the financial statements The financial statements of the charitable company, which 15 a public beneflt entity under FRS 102, have been prepared in accordance with the Charities SOf<P IFRS 1021 'Accounting and Reporting by Charitie5'. 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 IFRS 1021 (effective l January 20151,, Financial Reporting standard 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland, and the Companies Act 2006. The financial statement5 have been prepared under the historical cost convention. Expendlture Liabllities are recognised a5 eKpenditUTe as 500n as there is a legal or constructive obligatTon committ1ng the charitv to that expendlture, it is probable that a transfer of econornic benefit5 wlll be required in setilement and the amount of the obllgation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aEEregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activifies on a basis consistent with the use of resources. Tanglble flxed assels Depreciation is provided at the following annual rates in order to write off each asset over its estlmated useful life. Computer equipment - 25% on cost The carrying values of tangible fixed assets are reviewed annually for impalrment in periods if events or changes in clrcumstances Indicate that the carrying value may not be recoverable. Taxation The Charity is exempt from corporation tax on its charitable activitles. Fund accounting Unrestricted fund5 Can be used In accordan with the charitable objectives èt the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. RAISING FUNDS Raislng donatlons and legacles 2018 2017 Support costs 15471 3,744 Page 6
I nlficado Foundatlon Notes to the Financial Statements- continued lor the Year Ended 31 December 2018 NET INCOMEIIEXPENDITUREI Nei Incomellexpèndlturel 15 Stated after charginEllcreditingl'. 2018 2017 Depreciation - owned assets 282 281 TRusfEES' REMUNERATION AND BENEFITS There were no tru5tees' remuneration or other benefils for the year ended 31 December 2018 nor for the year ended 31 December 2017. Trustees, expense5 There were no trustee5' expenses for the year ended 31 December 2018 and year ended 31 December 2017. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOMEAND ENDOWMENTS FROM EXPENDITURE ON Raising funds 4,026 Total 4,026 NET INCOMEIIEXPENDITUREI 14,0261 RECONCILIATION OF FUNDS Total funds brought forward 4,381 TOTAL FUNDS CARRIED FORWARD 355 Page 7
nlflcado Foundation Notes to the Financial Statements- continued for the Year Ended 31 December 2018 TANGIBLE FIXED ASSETS Computer equiprnent COST At l January 2018 and 31 December 2018 1,127 DEPRECIATION At l January 2018 Charge for year 563 282 At 31 December 2018 845 NET BOOKVALUE At 31 December 2018 282 At 31 December 2017 S64 CREDITORS: AMOUNTS FAILING DUE WITHIN ONE YEAR 2018 2017 Trade cieditors Accrua15 and deferred income 1,167 1,725 2,280 2,280 2,892 MOVEMENTIN FUNDS Net movemerit in funds At 1.1.18 At 31.12.18 Unrestricted funds General fund 355 265 620 TOTAL FUNDS 355 265 620 Page 8
nificado Foundation Note5 to the Financial StatÈments- contlnued lor the Year Ended 310ecember 2018 MOVEMENT IN FUNDS- corttlnued Net movement in funds, included in the above are as follow5.' Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 265 265 TOTAL FUNDS 265 265 Comparatives for movement in funds Net movement in fund5 At 1.1.17 At 31.12.17 Unrestricted Funds General fund 4.381 14,0261 355 TOTAL FUNDS 4,381 14,0261 355 Comparatlve net movement in funds, included in ihe above are as follow5.' In¢oming resources Resour5 expended Movement in funds Unrestrlcted funds General fund 14,0261 14,0261 TOTAL FUNDS 14,0261 14,0261 A current year 12 months and prior yèar 12 months combined position is as fo51ows'. Net movement in funds At 1.1.17 At 31.12.18 Unrestricted lunds General fund 4,381 13,7611 620 TOTAL FUNDS 4,381 13,7611 620 Page 9
Si nificado Foundation Notes to the Financial Statements- continued for the Year Ended 31 December 2018 MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 month5 combined net movement in funds, included in the above are as follows.. Incomillg resour$ Resource5 expended Movement in funds Unrestricted funds General fund 13.7611 13.7611 TOTAL FUNDS 13,7611 13.7611 RELATED PARTY DISCLOSURES There wère no related party transactions for the year ended 31 December 2018. Page ID
nificado Foundation Detailed Statement of Flnancial Activities for the Year Ended 31 December 2018 2018 2017 INCOME AND ENDOWMENTS Total incoming resources EXPENDITURE other trading activitiès Computer equipment 282 282 Support costs Management Professional lees Travel expenses Human resource expense5 555 11,1671 1.050 589 2,025 16121 3,664 Flnance Bank charges 65 80 Total resources expended 12651 4,026 Net Incomellexpendlturel 265 14,0261 This page doe5 not form part of the statutory financial statements Page 11