Charity Reglstration No. NIC105047 (Northern Ireland) Company Registration No. N1623234 ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) CHARITY INFORMATION Directors Mr J Marley Mr W Mccomb Ms S Smyth Mr J Oliver Ms C O'Kane Mr G Gorman Secretary Mr T Turley Company number N1623234 Charlty number 105047 Registered offlce 11 a Flax Street Belfast BT14 7EJ Independent examiner PGM Chartered Accountants 405 Lisburn Road Belfast BT9 7EW Bankers First Trust Bank 322 Antrim Road Glengormley BT36 SEQ
CONTENTS Page Charity Information Trustees, Report 34 Independent Examiner's Report statement of Financial Activities (including Income and Expenditure Account) Balance Sheet Notes to Ihe Financial Statements 9-14
ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees (who are also directors of Ihe charitable company for the purposes of company law), present their report and independently examined financial stalements for the year ended 31 March 2024. The trustees confirm that the Annual Report and Financial Statements of the company comply with the current statutory requirements. the requirements of the company's governing document and the provisions of Ihe Accounting and Reporting by Charities, Statement of Recommended Praclice, applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (effective 1 January 2019). Obje¢tlves and prlnclpal activities The principle objeclive is the promotion, development and support of the voluntary and community sector and in particular to those organisations offering youth services and support lo children and young people resident in Ardoyne, Marrowbone and Oldpark areas of North Belfast. The truslees have paid due regard to guidance issued by the Charity Commisslon for Northern Ireland in ensuring the charity's aclivilies meet the public benefit requirements. Achievements and performance The trustees are satisfied that they were able to achieve their objectives and delivered a wide range of activities developing the voluntary sector in North Belfast. Flnancial review The trustees are satisfied with the financial position of the charity at the year ended 31 March 2024. The charity has managed its incoming resources effectively in the year under review. The balance of funds at 31 March 2024 is £224,708 (2023: £176,386). During the year ended 31 March 2024 Ihe charity had a positive movement in funds of £48,322. The results of the year are fully set out in the Statement of Financial Activities. Going concern The trustees have reasonable expectations that the charity can continue its operations for Ihe foreseeable future. For Ihis reason, they continue to adopt the going concern principle In preparing the financial statements. Risk management The trustees have assessed the major risks lo which the charitable company is exposed. to those relating to the operations and finances of the company and are satisfied that systems and procedures are in place to mitigate exposure to major risks. Statement of Trustees Responslblllties The truslees are responsible for preparing the Trustees, Annual Report and the Financial Statements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial slatements for each financial year. Under that law the directors and the truste8s must not approve Ihe financial stalements unless they are satisfied that they give a true and fair view of the state of the affairs of the charitable company. In preparing these financial stslements the trustees are required to: Select suitable accounting policies and apply Ihem consistently., Make judgments and accounting eslimates that are reasonable and prudent; Prepare the financial slatements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees are responsible for keeping adequate accounting records that are sufficienl to show and explain the charitable company's transactions and disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report was approved by the trustees on .J£).lJ. ILI... and signed on their behalf by.. Trustee Trustee £c)1112£ fLoii I IS
ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ARDOYNE YOUTH ENTERPRISES I report to the charity trustees on my examlnation of the financial statements of Ardoyne Youth Enterprises for the year ended 31 March 2024 set out on pages 6 to 14. Respective responsiblllties of Trustees and Examiner As the charity trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Acl 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to: examine the accounls under section 65 of the Charities Act (Northem Ireland) 2008. follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 6519)(b) of the Charities Act. and state whether particular matters have come to my attenlion. Basls of independent examiner's report I have examined your charity accounts as required under section 65 of the Charities Act and my 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 Acl. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to slate whether any material matters have come to my attention giving me cause to believe.. 1. That accounting records were not kept in accordance with seclion 386 of the Companies Act 2006 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply wilh the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Stalement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with followlng the Directions of the Charity Commission for Northern Ireland, have found no matters that require drawlng to your attention. Paul McAreavey FCA PGM Chartered Accountants 405 Lisburn Road Belfast BT9 7EW Date g811
ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Funds Restrlcted Funds 2024 Total 2023 Total Notes Income and endowments from: Donations, legacies and charitable aclivities 40,923 248,324 289,247 258,343 289,247 258.343 Total 40,923 248,324 Expendlture on: Charitable activities 448 240,477 240,925 268,516 Total 448 240,477 240,925 268,516 Net income l(expenditure) Transfers beeen funds 40,475 7,847 48,322 (10,173) Net movement in funds 40,475 7,847 48,322 (10,173) Total funds brought forward at 1 April 2023 Total funds carrled forward at 31 March 2024 157,684 176,386 186,559 18.702 224,708 176,386 12 59,177 165,531 The ststement of financial activities has been prepared on the basis that all operations are continuing operations. There are no recognised gains or losses other than those passing Ihrough the statement of financial activities.
ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 55,609 61,779 Current assets Debtors Cash al bank and in hand 40.726 139,438 46,662 81.930 Total current assets 180,164 Liabllities: Creditors: amounts falling due wilhin one year 128,592 10 (11,065) (13,985) Net current assets 169,099 114,807 Total assets less current liabllities 224,708 176.386 Net assets 224,708 176,386 Funds Unrestricted funds Restricted funds 59,177 165,531 18,702 157,684 Total funds 224,708 176,386 For the financial year ended 31 March 2024 the company was enlilled to exemplion from audit und&r section 477 of the Companies Act 2006 relating to small companies. The Trustees acknowledge their responsibilities for complying with the requirements ofthe Companies Act 2006 with respect lo accounting records and the preparation of financial stalements. The Trustees consider that the company is enlitled lo exemption from the requirement to have an audit undef the provision of section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for Ihe year in question in accordance with section 476 of the Companies Act 2006.
ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small Companies regime. The financial statements were approved and authorised for issue by the Board on and are signed on its behalf by: Wllllam Mccomb Trustee Trustee Date. Date.... 01 ! i.IS..... Company Reglstration No. N1623234
ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 Accountlng policles 1.1 Charlty infomiation Ardoyne Youth Enterprises is a charitable company limited by guarantee, incorporated in Northern Ireland. The registered office is 11a Flax Street, Belfast. BT14 7EJ and the company registratlon number is N1623234. In the event of the company being wound up Ihe liability in respect of the guarantee is limited to £2 per member. The charity is a public benefit entlty as defined by FRS102. 1.2 Basls of preparation The financial statemenls have been prepared in accordance with the Compapies Act 2006. the Statement of Recommended Practice: Accounling and Reporting by Charities preparing their accounts in accordance with the Financial Reporling Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in Ihe United Kingdom and Republic of Ireland IFRS 102) and the Charities Act (Northern Ireland) 2008, and UK Generally Accepted Accounting Practice. These financial statements have been prepared on a going concern basis under the historical cost convention. The financial statements have been presented in sterling, which is the functional currency of the charlty. The principal accounting policies adopted are set out below. 1.3 Fund accountlng Income includes restricted and unrestricted funds. Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of Ihe general objectives of the company and have not been designated for other purposes. Restricted funds are funds which are to be used in accordance wffith specific restrictions imposed by donors or whSch have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged agaSnst the specific fund. 1.4 Income recognition All incoming resources ar8 included in the Statement of Financial Activities (SOFA) wh8n the charity is legally entitled lo the income after any performance conditions have been met. the amount can be measured reliably and it is probable that the income will be receSved. The charity receives government grants. Income from government and other grants are recognised al fair value when the charity has entitlement after any performance conditlons have been met, it is probable that the income will be received and the amount can be measured reliably. If the entitlement is not met Ihen these amounls are deferred. Donated facilities and donated professional services are recognlsed in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charily would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. No amount is included in the financial statements for volunteer time in line with the SORP.
ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 1.5 Expenditure recognitlon All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cosls related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable Ihat the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: Costs of raising funds. Expenditure on charilable activities includes., and Other expenditure representing those items not falling into the categories above. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. 1.6 Tanglble flxed assets and depreciatlon Tangible fixed assets are stated at cost less accumulated depreciation and accumulaled impairment losses. Depreciation is provided on all tangibile fixed assets, at rates calculated to write off the cost less estimated residual value of each asset on a systemic basis over its expected useful life, as follows.. Fixtures & fittings Motor vehicle Leasehold buildings The gain or loss arising on Ihe disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to surplus or deficit. 25°/o slraight line 250/0 reducing balance 20/0 Straight line 1.7 Cash and cash 8qulvalents Cash and cash equivalents are basic financial assels and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturitles ofthree months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Debtors and creditors receivable I payable wlthin one year Debtors and creditors with no ststed interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expendilure. 1.9 Impairment Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assel's Cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. 1.10 Provislons Provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably eslimated. 1.11 Forelgn currency translation Monelary assets and liabilities denominated in foreign currencies are translaled inlo slerling at the rates of exchange ruling at the balance sheet date. 10
ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Transactions in foreign currencies are recorded at the rate of exchange at the balance sheet date. All differences are taken to the profit and loss account. 1.12 Taxation The company is exempt from corporation lax, due to its charitable status. 1.13 Employee benefits The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. 1.14 Golng concern The financial statements have been prepared on a golng concern basis as the trustees believe that no malerial uncertainties exist. The Irustees have considered the level of funds held and Ihe expected level of income and expenditure for 12 months from authorising these financial ststements. The budgeted income and expenditure and level ol reserves are for the charlty to be able to continue as a going concern. 1.15 Cash flow statement The Charities SORP 2019 recommends that cash flow statements should be prepared for larger charitable entities, however the UK accounting guidelines also allow for smaller entilies to elect not to produce cash flow statements. Ardoyne Youth Enterprises meets the definition of a small entity in terms of the UK accounting standards and the SORP 2019. The trustees have elected not to prepare cash flow statements in terms of provislons allowed to smaller entities. Judgements and key sources of estimatlon uncertainty There are no judgements (apart from those involving estimates) which have been made in the process of applying the above accounting policies that have a significant effect on amounts recognised in the financial statements. There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a signlficant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. 11
ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 3. Total resources Unrestricted Funds Restrlcted Funds Total 2024 Total 2023 Incomlng resources Department for Communities Community Relations Council Belfast City Council Education Authority other income E Quinn Civils Ltd TEO Urban Villages National Lottery Community Fund OCCNI NBWI 155,450 72,311 16,434 155.450 72,311 16,434 115,734 79,999 16.490 9,844 315 800 800 7.000 7,000 8,391 10,000 33.123 33,123 4,129 15,570 2.000 4,129 33,923 255,324 289,247 258,343 Resources expended Charitable activlties Salaries Staff pension Rent Rates Heat, light and power Project costs Subscriptions Cleaning Repairs Computer running costs Postsge and stationery Telephone Vehicle expenses Depreciation Insurance Bank charges Bank interest Accountancy Sundry expenses 110,808 3,127 6,773 176 169 99,568 125 1.225 1,519 1,009 1,587 1,627 983 6,170 1,099 110,808 3,127 6.773 176 169 99,568 125 1,225 1,519 1,009 1,587 1,627 983 6,170 1,099 448 124,635 3.559 5,292 234 4,104 104,949 187 1.242 4,701 676 4,075 1,817 681 7,628 514 532 260 3,240 190 448 3,900 612 3,900 612 240,477 240,925 268,516 12
ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Independent examiner's remuneratlon The independent examiner's remuneration amounts to an independent examination fee of £2,700 and £720 for payfoll services. 5. Trustees, remuneration None of the Trustees (or any person connected with them) received any remuneration during the year ended 31 March 2024 (2023- £nil}. 6. Trustees, expenses The Trustees received no payments for expenses during the year ended 31 March 2024 (2023 - £nil). 7. Employees The average number of employees during the year ended 31 March 2024 was 6 (2023: 7). Employment costs: 2024 2022 Gross wages and salaries Employer national insurance costs Defined contribution pension costs 108,146 2,662 3,127 120,211 4,424 3.559 113,935 128,194 There were no employees whose annual remuneration was £60.000 or more. Tangible fixed assets Buildlngs Mlnlbus Fixtures & Fittings Total Cost or valuation At 1 April 2023 Additions 46,755 59,750 8,284 114,789 At 31 March 2024 46,755 59,750 8,284 114,789 Depreciatlon At 1 April 2023 Charge for the year 1,870 935 45,883 3,467 5,257 1,768 53.010 6,170 At 31 March 2024 2.805 49,350 7,025 59,180 Net book value At 31 March 2024 43,950 10,400 1,259 55,609 At 31 March 2023 44,885 13.867 3,027 61,779 13
ARDOYNE YOUTH ENTERPRISES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Debtors 2024 2023 Other debtors Prepayments 40.131 595 46,140 522 40,726 46,662 10. Creditors: amounts falllng due withln one year 2024 2023 Trade creditors Taxation and social security Accruals and deferred income 1,813 2,120 7,132 2,207 4.973 6,805 11,065 13,985 11. Analysls of net assets between funds UnrestrScted Fund Restricted Fund Total Funds Fixed assels Current assets Current liabilities 55,609 120,987 (11,065) 55,609 180,164 111,065> 59.177 59,177 165,531 224,708 14