Charity Registration No. 105261 Company Registration No. N1611153 (Northem Ireland) NORTHERN IRELAND RARE DISEASE PARTNERSHIP ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
NORTHERN IRELAND RARE DISEASE PARTNERSHIP LEGAL AND ADMINISTRATIVE INFORMATION Trustees C Donnelly S Callaghan A O'Loan J Wright J McEvoy C McKenna Dr N Chaudhuri (Appointed 10 July 2022) (Appointed 10 July 2022) (Appointed 10 July 20221 (Appointed 10 June 2022) (Appointed 21 February 2023) Charity number 105261 Company number N1611153 Registered office Guardian Chartered Accountants 2 William Street NeOwnards BT23 4AH Independent examiner MTS Prior Mcmahon 104-108 Frances Street Newtownards Down BT23 7DY
NORTHERN IRELAND RARE DISEASE PARTNERSHIP CONTENTS Page Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements
NORTHERN IRELAND RARE DISEASE PARTNERSHIP INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTHERN IRELAND RARE DISEASE PARTNERSHIP I report to the trustees on my examination of the financial statements of NORTHERN IRELAND RARE DISEASE PARTNERSHIP (the charity) for the year ended 31 March 2023. Responsibilities and basis of report As the trustees of the charity {and also its directors for the purposes of company law) you are responsible for the preparatson of the financial statements in accordance wth the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the charty is not subject to audit under company law, and is eligible for independent examination. it is my responsibilty to.. examine the accounts under section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for Northem Ireland under section 65{9)(b) of the Charities A state whether particular matters have come to my attention. Independent examiner's statement I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance wth the general Directions given by the Charity Commission for Northern Ireland under se¢tion 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 wth 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. 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 charity 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 view 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 chanties applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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. Paula Armstrong For and on behalf of MTS Prior Mcmahon Chartered Accountants 104-108 Frances Street Newtownards Down BT23 7DY Dated.. 29 November 2023
NORTHERN IRELAND RARE DISEASE PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted Restricted funds funds 2023 2023 Total Total 2023 2022 Notes Income from: Donations and legacies Investments 10.985 38.239 49.224 68,696 18 Total income 10,985 38,239 49,224 68,714 Charitable activities 10.189 62,468 72,657 37,839 Other 611 Total resources expended 10.189 62.468 72,657 38.450 Net incomel(expenditure) for the yearl Net movement in funds 796 (24,229) (23,433) 30,264 Fund balances at 1 April 2022 18,476 36,957 55,433 25,169 Fund balances at 31 March 2023 19.272 12,728 32.000 55,433 The statement of financial activities includes all gains and losses re¢ognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies ¥th the requirements for an income and expenditure account under the Companies Act 2006.
NORTHERN IRELAND RARE DISEASE PARTNERSHIP BALANCE SHEET ASAT 31 MARCH 2023 2023 2022 Notes Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 1.811 1,158 10 1,307 32,991 197 55,845 34.298 56,042 Creditors: amounts falling due within one year 11 (4.109) (1.767) Net current assets 30,189 54,275 Total assets less current liabilities 32,000 55,433 Income funds Restricted funds Unrestricted funds 12,728 19,272 36,957 18,476 32,000 55,433 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023. The trustees aCknOedge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otheTwise comply wth the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in aGrdance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 29 November 2023 S Callaghan Trustee A O'Loan Trustee Company Registratlon No. N1611163
NORTHERN IRELAND RARE DISEASE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Charity inforniation NORTHERN IRELAND RARE DISEASE PARTNERSHIP is a Private company limited by guarantee incorporated in Northern Ireland. The registered office is Guardian Chartered Accountants. 2 William Street, Newtownards, BT23 4AH. 1.1 Accounting convention The financial statements have been prepared in accordance viith the charity's articles ot association. the Companies Act 2006 and 'Accounting and Reporting by Charities.. 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 (FRS 102)" (as amended for accounts'ng periods commencing from 1 January 2016). The charty is a Public Benefii Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instru ments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements. the trustees have a reasonable expectation that the charity has adequate resources to ¢ontinue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discrets'on of the trustees in furtherance of their charitable objectives unless the funds have been designated for ¢)ther purposes. Restricted funds are subject to specific Conditions by donors as to how they may be used. The purp)ses and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to spe¢ifi¢ Conditions by donors that the capital must be maintained by the charity. 1.4 Incoming resources Income is recognised when the charity is legally entitled to it after any perfomiance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations feGeived under Gift Aid or deeds of covenant is re¢ognised at the time of the donation. Legacies are recognised on receipt or other*fjse if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset.
NORTHERN IRELAND RARE DISEASE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies (Continued) 1.5 Resources expended Expenditure is recognised on an accrual basis as a liabiltty is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.. 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 activrties and those costs of and indirect nature neSSary to support them. Govemance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. All costs are allocated beeen the expenditure categories of the SOFA on a basis designed to refiect the use of the resource. Costs relating to a particular activity are allocated directly. others are apportioned on an appropriate basis. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at Cost Of valuation. net of depreciation and any impairment losses. Depreciation is recognised so as to lte off the cost or valuation of assets less their residual values over their useful lives on the followng bases= Fixtures and fittings 25% reducing balan The gain or loss arising on the disposal of an asset is determined as the difference beleen the sale proceeds and the carrying value of the asset. and is recognised in net incomel(expenditure) for the year. 1.7 Impairnient of fixed assets Al each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impainment loss. If any such indallOn exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the impairment loss (if any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-term liquid investments with original maturities of three month5 or less. and bank overdrafts. Bank overdrafts are shown within borrowings in Current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balanrk sheet when the charity becomes paty to Ihe contra¢tual provisions of the instrument. Financial assets and liabilities are offset, the net amounts presented in the financial statements, when Ihere is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultsneously. Basic financial assets Basic financial assets, whi¢h include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised Cost using the effective interest method unless the arrangement constitutes a financing transaction. where the transadion is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
NORTHERN IRELAND RARE DISEASE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Icontinued) Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as cuent liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's ¢ontractual obligations expire or are discharged or canlled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Donations and legacies Unrestricted Restricted funds funds Total Total 2023 2023 2023 2022 Donations and gifts Grants 10.985 10.985 38.239 6,671 62,025 38,239 10,985 38,239 49,224 68,696 For the year ended 31 March 2022 6,671 62,025 68,696
NORTHERN IRELAND RARE DISEASE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Donations and legacies (Continued Donations and gifts Donations Other 10,943 42 10,943 42 6,671 10.985 10,985 6.671 Investments Unrestricted nds Total 2023 2022 Interest receivable 18 Charitsble activities 2023 2022 Staff costs staff and board training Forum costs and room hire Subscriptions Insurance Printing, postage and stationery 59.193 1.222 30,840 99 70 96 120 65 96 803 F li Advertising and promotional costs Telephone Computer and internet wsts Motor and travel expenses Consultancy Event expenses General expenses 853 172 2,514 2,127 3,125 886 389 1.964 168 2,708 551 229 71,445 36,845 Share of govemance costs (see note 5) 1,212 994 72,657 37,839 Analysis by fund Unreslricted funds Restricted funds 10,189 62,468 3,621 34,218 72,657 37,839
NORTHERN IRELAND RARE DISEASE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Governance ¢t>sts Restricted Unrestricted 2023 2022 Govemance costs heading 1 Bank charges Depreciation 540 68 604 540 68 604 474 134 386 1.212 1,212 994 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Employees Number of employees The average monthly number of employees during the year was: 2023 Number 2022 Number Employment costs 2023 2022 Wages and salaries Other pension costs 58,542 651 30,465 375 59.193 30,840 Other Unrestrlcted funds Total 2023 2022 Net loss on disposal of tangible fixed assets 611 611
NORTHERN IRELAND RARE DISEASE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Tangible fixed assets Fixtures and fittings Cost At 1 April 2022 Additions 3,350 1,257 At 31 March 2023 4,607 Depreclation and impaimient At 1 April 2022 Depreciation charged in the year 2,192 604 At 31 March 2023 2,796 Carrying amount At 31 March 2023 1,811 At 31 March 2022 1.158 10 Debtors 2023 2022 Amounts falling due within one year: Other debtors 1.307 197 11 Creditors: amounts falling due within one year 2023 2022 Other taxation and social security Other creditors Accruals and deferred income 729 1,594 1,786 880 377 510 4,109 1,767 12 Related party transactions There were no disc105able related paty transaction5 during the year (2022 - none).